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Why has the world's largest cryptocurrency, Bitcoin, experienced a decline recently? The analyst evaluated the current situation.
Bitcoin hashrate is rising, reflecting increased confidence in BTC's value amid advancements in mining technology.
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With one year in the books, spot bitcoin ETFs have generated over $660 billion in trading volume.After amassing over $50 billion in assets under management (AUM) in the past year, BlackRock’s IBIT fund emerged as the clear leader among spot bitcoin ETFs.Bitcoin’s standing as an accepted asset class took on new shape thanks to the new financial instruments.
- 16:33A Whale Address Significantly Reduces Its 25x ETH Long Position, Remaining Position Worth $21.33 MillionAccording to a report by Jinse Finance, HyperInsight monitoring shows that the address starting with 0x4a2 has significantly reduced its ETH long positions on Hyperliquid, decreasing its holdings by 12,003.10 ETH, with the position value dropping by $36,958,364. The current position details are as follows: 25x leveraged ETH long position, position size of $21.233 million, entry price at $2,990, and an unrealized profit of $301,000.
- 16:29Analysis: Profit-Taking Surges After Bitcoin Rises to $123,000, Signaling a Potential Healthy CorrectionAccording to a report by Jinse Finance, CryptoQuant analyst Tarek J stated on social media that based on Bitcoin exchange net flow data, there has been a surge in profit-taking after Bitcoin reached a high of $123,000. This trend typically signals the formation of a local top and may lead to a healthy correction or consolidation in the coming days.
- 16:26ECB to Discuss More Pessimistic Outlook Next Week, July Rate Hold ExpectedAccording to Jinse Finance, sources say that following Trump's latest trade tariff threats, the European Central Bank will discuss scenarios next week that are more negative than those anticipated in June. The ECB is still expected to keep interest rates unchanged at its July 24 meeting. Discussions on rate cuts have been postponed until September.