The Crypto Fear & Greed index has returned to a neutral level because Bitcoin has been able to regain the psychological level of $40,000 per one digital coin:
Last week was full of positive events and news. On Tuesday, July 20, Mastercard announced that it would enhance its card program for cryptocurrency wallets and exchanges. The financial giant will partner with Evolve Bank & Trust, Paxos Trust Company, and Circle to offer a card option to people wanting to spend their digital assets anywhere Mastercard is accepted.
On the same day, Bank of America’s prime brokerage unit launched the clearing and settlement of cryptocurrency exchange-traded products (ETPs) for hedge funds in Europe, according to CoinDesk.
On Thursday, July 22, JPMorgan started offering access to cryptocurrency funds to its…
In the first half of last week, rumors about Apple buying Bitcoins worth over $2 billion spread across the crypto-related social media platforms.
On July 7, Visa said that cryptocurrency users spent more than $1 billion on different goods and services through their crypto-linked cards in the first half of the year. That is a signal that the integration of cryptocurrencies in global trade is on the way.
Because cryptocurrencies are becoming an integral part of the global financial system, Bank of America has created a new research team dedicated to blockchain and digital assets, Bloomberg reports. The main goal of the newly created bank team is to take advantage of one of the fastest-growing emerging technology ecosystems and capitalize on it.
The crypto market has recorded another week of consolidation. Recently, most of the major cryptocurrencies have been trading in a very narrow range, struggling to find direction. For example, Bitcoin has been fluctuating between $30,000 and $38,000 for almost 5 weeks now. It is clear that sooner or later, this consolidation will end. But the question is in which direction BTC will continue its journey once it exits this range in the second half of the year.
A recent CNBC poll shows that 44% of the institutional investment managers believe that the crypto market will remain flat in the second…
On June 24th, Citigroup, the third-largest banking institution in the United States, officially launched a digital asset unit within its wealth management division, according to The Block. The new unit called Digital Assets Group aims at helping Citigroup’s clients invest in cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and central bank digital currencies (CBDCs).
On the same day, Andreessen Horowitz, one of the leading venture capital firms in Silicon Valley, California, announced ‘Crypto Fund III’ — a new $2.2 billion fund for investing in crypto networks and blockchain projects and teams. …
Last week, the news about China’s cryptocurrency mining crackdown dominated the market. The authorities of China’s southwest province Sichuan issued an order demanding to close the mining facilities in the region. Sichuan is considered to be the second-biggest Bitcoin mining region in China. Because many of those miners have started to shut down their mining activates and close the facilities, the hash rate of Bitcoin has dropped by over 30%, reaching the levels from the second half of 2020:
Last week, miners around the world approved Bitcoin’s Taproot upgrade:
Last Wednesday, Iran’s President Hassan Rouhani announced a ban on cryptocurrency mining in the country. The announcement came after several cities had experienced blackouts. The government blamed the Bitcoin miners in the country for the power outages. The crypto mining ban is supposed to continue until the end of September.
It is worth mentioning that a couple of weeks ago, China also called for a crackdown on crypto miners.
Nevertheless, the cryptocurrency community remains positive and is not afraid of Bitcoin mining bans in China and Iran because a process of shifting mining capacity from China to North America and…
Last week, Elon Musk brought another surprise to the market. This time he started to criticize Bitcoin instead of praising the cryptocurrency. On May 13th, the Tesla CEO announced that they had stopped vehicle purchases using Bitcoin: