💰 Bitcoin miner balances fall below 1.81 million BTC, lowest in years post-halving

Bitcoin miner balances have shown significant shifts in recent months. The balance in miner wallets has seen a steady decline since late 2023, reaching lows not seen in years, reflecting miners’ responses to the recent Bitcoin halving in April 2024. According to Glassnode data, the miner balance dropped from around 1.84 million BTC in early 2023 to close to 1.8 million BTC by May 2024. This reduction is indicative of increased sell-offs by miners to cover operational costs, likely exacerbated by the reduced block rewards post-halving.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

📊 Bitcoin and ether options implied volatility forecasts lackluster market in June: analysts

The current levels of implied volatility for bitcoin and ether options — a measure of expected future price movement — indicate that traders expect the market to be relatively calm over the coming weeks, analysts said. "Implied volatility rank is 40 and implied volatility percentile is 52, both mid-level indicators which show the market is not expecting a lot of activity," Luuk Strijers told The Block.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

🏦 Coinbase launches smart wallet with hopes of addressing crypto's 'pain points'

Coinbase is officially launching its new "smart wallet" with the hope of improving the user experience for its clients. "These next-generation wallets address the biggest pain points of the crypto experience today — complex onboarding, network fees, and recovery phrases — making the transition to onchain smoother than ever," the company said in a statement.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

🟠 Binance moves to dismiss most of UK Bitcoin SV case

Binance moved to dismiss most of the claims in a UK case regarding its delisting of Bitcoin SV (BSV), Reuters reported on June 5. The case also names the companies behind Kraken, Shapeshift, and Bittylicious as defendants. BitMEX Research reported that six companies related to the four exchanges appeared with legal teams before the tribunal today. Binance asked the UK Competition Appeal Tribunal during a hearing to dismiss the part of the case claiming that BSV had the potential to become a major crypto.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

🪙 VanEck predicts Ethereum will hit $22,000 per token by 2030

VanEck believes Ethereum (ETH) will be worth roughly $22,000 by 2030, the asset manager said in a comprehensive analysis published on June 5. The forecast, developed by the firm’s Digital Assets Research team, led by Matthew Sigel, highlights Ethereum’s strong growth potential within both traditional and cryptocurrency-focused portfolios. VanEck’s analysis attributes the optimistic price target to Ethereum’s expanding role as a high-growth, internet-native commercial system that could disrupt traditional financial sectors and Big Tech platforms.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

💰 FTX creditor group files objection against bankruptcy reorganization plan

A group of FTX creditors led by Sunil Kavuri has objected to the reorganization plan filed by the defunct exchange’s bankruptcy managers. According to a June 5 court filing, the creditors argued that the plan failed the best interest test. Justifying the objection, Sunil noted that it is unconfirmable as a matter of law as it includes releases not in the interest of the estate. He added that the plan also ignores property rights issues.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

💰 Jack Mallers and Matt Odell speak on Bitcoin being a open-source and freedom movement

“Google doesn’t have as much of a vested interest in the success of the open web, but as a Bitcoin company, I do in Bitcoin.”

- Jack Mallers

https://hottg.com/Crypto_Bitcoin_Blockchain

💰 Bitcoin accumulation addresses surge as market optimism returns

Recent data from Glassnode indicates notable movements in Bitcoin accumulation addresses. The number of these addresses declined earlier this year, and a resurgence started in late April. This increase aligns with broader market optimism and Bitcoin’s price stabilization around $60,000. According to CryptoSlate, long-term holders have added nearly 70,000 BTC since the cycle’s bottom, reversing a previous divestment trend.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

💰 Bitcoin Could Lift to $83K in the Coming Days, Analyst Says

Bitcoin (BTC) may be setting up for a rise to $83,000 as it completes a major bullish price pattern on the daily chart, according to technical analysis by 10x Research. A price move above $72,000 would confirm a breakout from an inverted head-and-shoulders pattern, characterized by three price troughs, with the middle one being the deepest.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

🏦 Crypto Custody Firm Fireblocks Partners With Coinbase International Exchange for More 'Reliable' Trading

Cryptocurrency custody firm Fireblocks is working with Coinbase International Exchange, the non-U.S. arm of the trading business providing perpetual futures and spot trading features for institutional and retail clients in eligible jurisdictions, the companies said on Monday. Coinbase International Exchange received a regulatory license from the Bermuda Monetary Authority to offer its services in May 2023.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

💰 Russia Set to Recognize Bitcoin Mining as Economic Activity

According to Osman Kabaloev, the Deputy Director of the Financial Policy Department at Russia’s Ministry of Finance, the recognition of Bitcoin mining as an official economic activity is set to happen soon. Following the approval of a law regulating cryptocurrency mining, this activity would be assigned an OKVED code, which classifies company activities for licensing purposes.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

🪙 Binance Labs invests in Ethereum Layer 2 network developer Zircuit

Binance Labs, the $10 billion venture capital and incubation arm of the crypto exchange Binance, has invested an undisclosed sum in Zircuit, an Ethereum Layer 2 network developer. Zircuit is a zero-knowledge rollup with "AI-enabled sequencer-level security," Binance Labs said Tuesday. The firm added that its investment will help Zircuit grow and develop its network further.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

📊 $270.4 million in liquidations as crypto market selloff continues

The cryptocurrency market has experienced a notable selloff over the past two days, which has led to a surge in liquidations. Bitcoin, the largest crypto by market cap, was down 3.5% over the past 24 hours to $67,275, according to The Block’s bitcoin price data, while Ethereum was down 4.6% to $3,495. The selloff has led to the liquidation of about $270.4 million in leveraged positions over the past 24 hours, according to CoinGlass. A significant portion, $238 million, were long positions.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

💰 Bitcoin surges above $69k after better-than-expected US CPI

Bitcoin’s price has soared past $69,000 after the latest US Consumer Price Index (CPI) for May showed a slight decline. Available data shows that the much-anticipated US CPI inflation data was better than several experts’ predictions. He added that the decline in these numbers was caused by the “lower rates of inflation in used cars, gas utilities, apparel, food at home, gasoline, medical care, fuel oil, food away from home, shelter, and electricity.”

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

💰 Terraform Labs to dissolve, CEO asks community to take over following $4.47 billion SEC settlement

Chris Amani, CEO of Terraform Labs, the developer of Terra blockchain, asked the community to take the reins as the firm plans to dissolve its operations. The firm, according to Amani, plans to sell its projects in the Terra ecosystem including Pulsar Finance, Station Wallet and Enterprise DAO. This follows Terraform's massive $4.47 billion settlement with the U.S. Securities and Exchange Commission related to the UST algorithmic stablecoin, which dramatically collapsed in 2022.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain

💰 Ripple argues for lower fines than SEC's proposed $2 billion, cites Terraform settlement to make its case

Lawyers for Ripple Labs are looking to leverage fines recently lodged against Terraform in an effort to pay a lower penalty in its case with the U.S. Securities and Exchange Commission. Ripple, which has been in a lengthy legal battle with the SEC over the last few years, said financial penalties proposed by the agency were unreasonable, in a "notice of supplemental authority," posted on Thursday.

Source

https://hottg.com/Crypto_Bitcoin_Blockchain