Crypto Markets Surge Amidst Political Drama and German Bitcoin Selloff

DAILY MARKET OVERVIEW
Crypto Markets Surge Amidst Political Drama and German Bitcoin Selloff

Hey there, Crypto Enthusiasts! What a wild week it’s shaping up to be. Let’s dive into the latest developments.

Trump Survives Shooting, Bitcoin Pumps

In a shocking turn of events, former President Donald Trump survived an assassination attempt at a campaign rally.

The crypto markets reacted swiftly, with Bitcoin spiking immediately after the news broke. Trump-themed meme coins saw massive gains, and prediction markets now give Trump a 70% chance of winning the upcoming election.

Why the pump?Many see Trump as the pro-crypto candidate, and his survival was taken as a bullish sign for the industry’s future in the US.

Germany Dump Has Ended

The German government sold off its entire Bitcoin holdings – we’re talking billions of dollars worth of BTC. Normally, this kind of sell pressure would tank the market. But guess what? Bitcoin held strong and even started to climb as the selloff concluded.

Crypto Twitter had a field day, mocking the German government for failing to HODL. Some analysts are even comparing this to the early 2000s gold rush that followed the government selloff.

Political Winds Shifting?

Republicans Love Crypto Now. The Republican Party said they support cryptocurrency in their official plans. This is a big deal because it’s the first time a major US party has done this.

The move was celebrated across Crypto Twitter as a sign of growing mainstream acceptance.

While Republicans are openly supporting crypto, some Democrats are starting to show interest too. This could mean that in the future, both parties might work together on crypto-friendly laws, which would be great for the cryptocurrency world.

The Bottom Line

Despite some major curveballs, the crypto market is showing impressive resilience. Bitcoin weathered a massive government selloff, political violence is being interpreted as bullish, and we’re seeing increased engagement from both sides of the political aisle.

Stay tuned, with the election heating up, we’re bound to see more market-moving events in the coming months!

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TWITTER SENTIMENT
The Next Big Narrative

Now that the market is back in the green, traders and investors are on the hunt for the next big narrative.

Memes have ruled the scene so far, but will they keep their crown?

Meme coins such as MOG & Billy are showing a lot of strength and currently pushing for new all-time highs.

However, Twitter is filled with mixed opinions. Some investors are calling this the Meme Coin Super Cycle, while others predict a shift towards legitimate DeFi projects like Curve, Aave, and BTRFLY due to institutional adoption.

Real World Assets (RWA), AI & Decentralized Infrastructure (DePin) are also often mentioned narratives that some believe will see growth.

As of the past 7 days according to data from Dune Analytics have been.

1. Privacy

2. Bitcoin

3. RWA

We believe it’s early to say which narrative would perform best so we recommend being observant of which projects are showing the most strength.

NEWS OVERVIEW
The Latest Crypto Headlines

Bitcoin Price Jumps, Trump Meme Coins Surge After Attack
Bitcoin rises above $62,000 as Trump-themed tokens spike following assassination attempt on former president.

Former BitConnect Promoter Convicted in Australia
John Bigatton, the face of BitConnect in Australia, found guilty of providing unlicensed financial advice.

$170M in Short Positions Liquidated as Bitcoin Rallies
Weekend Bitcoin surge forces $170 million worth of short trades to be closed.

MakerDAO’s $1B Treasury Investment Attracts Interest
Leading crypto firms, including BlackRock’s BUIDL, Ondo, and Superstate, express interest in MakerDAO’s tokenized Treasury investment plan.

YOUTUBE INFLUENCER SUMMARY

Data Dash – Is Bitcoin About To Go Parabolic? | Here’s What You Need To Know (15.07.2024 Summary)

According to DataDash, there are signs that Bitcoin may be entering a more optimistic phase and could potentially go parabolic. He points out that Bitcoin has moved above its 21-day moving average price and is now testing the 100-day moving average, which he sees as a positive indicator.

• DataDash notes that if ETF inflows remain strong and selling pressure from sources like Mt. Gox doesn’t become too extreme, Bitcoin could accelerate higher, similar to what happened in August 2023.

• He believes the current setup offers a more favorable risk-reward scenario for entering positions compared to earlier in the year when he was taking profits.

• However, DataDash cautions against trying to catch the absolute bottom or chasing coins that have already seen significant gains. He advises waiting for momentum to build and looking for coins that show resilience during market downturns. He highlights meme coins as an area showing strength recently.

Overall, while DataDash sees encouraging signs for Bitcoin and the broader crypto market, he emphasizes the importance of being patient, looking for clear trends, and focusing on market leaders rather than trying to pick bottoms or chase parabolic moves that have already occurred. He suggests this could be the start of a broader trend formation if higher lows and highs continue to develop.

Ivan On Tech – BITCOIN: EMERGENCY BULLISH REVERSAL! (15.07.2024 Summary)

Ivan presents a compelling case for an imminent bullish reversal in Bitcoin’s price direction. He analyzes recent market dynamics and technical indicators to support his optimistic outlook.

• According to Ivan, Bitcoin has recently breached key resistance levels, signaling a potential shift in market sentiment. He interprets this as a strong indication of increasing buyer interest and accumulation, which could fuel further price appreciation.

• Ivan emphasizes the significance of current market conditions, suggesting they may mark the end of the recent bearish trend. He points to several technical factors, such as improved trading volume, positive divergences on momentum indicators, and favorable on-chain metrics, as evidence supporting his bullish thesis.

• While Ivan expresses confidence in his analysis, he maintains a balanced perspective. He acknowledges the inherent volatility of cryptocurrency markets and advises his audience to conduct thorough research before making investment decisions.

• Ivan views this potential reversal as a pivotal moment for Bitcoin and the broader cryptocurrency ecosystem. He speculates that a confirmed bullish trend could reignite interest from both retail and institutional investors, potentially catalyzing a new phase of market growth.

In conclusion, Ivan urges his viewers to closely monitor Bitcoin’s price action in the coming days, as he believes it could set the tone for the entire cryptocurrency market in the near term.

CRYPTO MEMES

“Soon