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The latest price moves in crypto markets in context for July 5, 2023.
Copies of several meme coins have popped across the board in a trend that’s likely to die out within weeks.
The 90-day rolling correlation between bitcoin and Nasdaq, S&P 500 is now at the lowest level observed since July 2021, according to data tracked by crypto derivatives analytics firm Block Scholes.
Still, bitcoin miners’ inventory sales climbed to a record as they took advantage of the cryptocurrency’s strong performance, the report said.
A bullish flag looks to be forming and would be completed on a breakout above $31,900, analysts at Fairlead Strategies said.
The bitcoin cash-Korean won (BCH/KRW) pair listed on Upbit has registered a trading volume of $557.63 million in the past 24 hours. That's nearly 3.5 times
It would be unusual for bitcoin to stay bullish when fiat liquidity measures are pointing lower, one portfolio manager said.
Shares in Coinbase, chosen as the market for the surveillance-sharing agreements in ETF applications, rose above $80 at around 11:30 ET on Monday.
A large ether bull call spread crossed the tape Friday, according to Amberdata. The trade involved December call options with strike prices at $1,900 and $2,500.
PLUS: Japan is a regulatory success story when it comes to digital assets and Web3. But walking around the recent IVS Crypto Conference in Kyoto, one can’t help but feel that something is amiss.
- 13:44Michael Saylor: The accounting rules that will take effect next year may enable MicroStrategy to meet the profit requirements of the S&P 500According to Barrons, MicroStrategy Chairman Michael Saylor did not explicitly state in a recent interview whether the company might be included in the S&P 500. However, he said that given his optimistic view of Bitcoin, MicroStrategy could report billions of dollars in quarterly net income next year due to the growth in value of its Bitcoin holdings. The accounting rule changes set to take effect in 2025 may enable MicroStrategy to meet the profit requirements for inclusion in the S&P 500. It is reported that MicroStrategy's traditional software business (its main business before it started buying large amounts of Bitcoin in 2020) is relatively small and may only be valued at about $1 billion. In addition, this business is losing money according to GAAP (Generally Accepted Accounting Principles), making it difficult to meet the requirements for inclusion in the S&P 500 index based on this alone. The upcoming accounting rules will adjust the company's valuation of its Bitcoin holdings from their current undervalued status to fair market value and could lead to significant net income growth when Bitcoin prices rise. However, membership into the S&P 500 index is decided by invitation by Standard & Poor’s Global Index Committee which reviews profitability, market capitalization and other factors.
- 13:43A certain whale transferred 100,000 UNI to CEX 4 hours agoAccording to The Data Nerd, 4 hours ago, a certain whale 0x64b deposited 100,000 UNI into CEX (worth about $1.37 million). Three days ago, this whale also deposited 197,000 UNI into CEX (worth about $2.58 million).Six months ago, the whale bought UNI at an average price of $7.65 and has now realized a profit of approximately $1.67 million. Currently, there are still 2.3 million UNI left (worth about $31.53 million).
- 13:42A certain wallet transferred 24 million CTSI to CEX an hour ago, accounting for 2.85% of the circulating supplyAccording to The Data Nerd, one hour ago, a certain wallet 0xC71 (possibly belonging to the team/early investors) deposited 24 million CTSI into CEX, worth approximately $3.59 million and accounting for 2.85% of the circulating supply. Currently, this wallet still holds 10 million CTSI valued at about $1.52 million.
