Greed

Flow

Shift

Bitcoin

Arkham

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-rises-and-market-trends-shift/" data-wpel-link="internal">Bitcoin Price Rises and Market Trends Shift</a> 
Bitcoin’s price rose today, deviating slightly from the market trend this weekend. Historically, Bitcoin trades negatively on weekends due to Wall Street being closed. Additionally, the German government completed the sale of 50,000 seized Bitcoins. According to Arkham Intelligence, Germany made its final Bitcoin sale last night. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-bitcoin">What’s Happening with Bitcoin?</h2> 
Today, Bitcoin increased by more than 3% in the last 24 hours, and Spot ETF funds saw inflows for seven consecutive days. Bitcoin’s market value was recorded at $1.16 trillion, indicating a 50.67% market dominance. CoinGecko’s <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> the <a href="https://en.coin-turk.com/ftx-executives-reportedly-helping-to-establish-a-new-crypto-exchange-in-dubai/" data-wpel-link="internal">crypto market</a> value reached $2.28 trillion, a 2.91% increase in the last 24 hours. Meanwhile, stablecoin projects have a market value of $163 billion, making up 7.12% of the total crypto market value. 
Additionally, the second-largest cryptocurrency, Ethereum, stabilized above $3,000. Ethereum is trading at $3,166, a 0.8% increase from an hour ago and a 3.7% increase in the last 24 hours. Overall, the market is on the rise, and some cryptocurrencies are reaching double-digit gains. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-370445 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/coingecko.png" alt="" width="1600" height="660"> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
On July 12, 2024, Germany finally sold its remaining Bitcoin assets. According to Arkham Intelligence, the final sale involved transferring 3,846 Bitcoins to Flow Traders and 139Po, defined as institutional deposits and OTC services. This marked the end of several hectic weeks during which the German government sold tens of thousands of Bitcoins in different transactions. The German government had been selling Bitcoin for the last three weeks. 
These transactions kept the Bitcoin market below $60,000 and under the 200-day exponential moving average. However, the $9 billion Mt. Gox repayment plan could reintroduce selling pressure. The market has been operating under fear, uncertainty, and doubt for some time. During this period, many institutional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> saw it as a buying opportunity. Despite the price increase, the crypto Fear and Greed Index remains at extreme fear levels. 
On the other hand, U.S. spot Bitcoin exchange-traded funds saw over $310 million in inflows on July 12, the largest day since June 5. According to Farside Investors statistics, BlackRock’s iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund received most of the inflows, with $120 million and $115.1 million, respectively. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-370446 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/fear.png" alt="" width="952" height="420"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-rises-and-market-trends-shift/" data-wpel-link="internal">Bitcoin Price Rises and Market Trends Shift</a></h5>

Bitcoin Price Rises and Market Trends Shift

Table of Contents

COINTURK NEWS

Other articles published on Jul 13, 2024

Ethereum News: Whale Scoops $33M ETH As Spot ETF Approval Speculation Looms

FTX’s $4 Billion Settlement With CFTC Prioritizes Creditor Repayments

Solana Faces Challenges as Token Demand Declines

Spot Bitcoin ETFs See Highest Inflows On July 12

OpenAI is reportedly working on a new model codenamed Strawberry

Affordable Investments: Top 4 Low-Cost Cryptocurrencies Ready to Surge

Join our free newsletter for daily crypto updates!