Gomining

We’re happy to present the latest edition of GoMarket Weekly, authored by our expert crypto market analyst, Mike Ermolaev! This week, we explore Bitcoin&#39;s local bottom, Ethereum&#39;s promising ETF launches, recent hacking incidents, and key legal, regulatory, and political developments in the crypto world. &#x1f50d; Bitcoin Finds Local Bottom, Anticipates Upward Momentum Bitcoin&#39;s trading range this week, between $56,930 and $65,866, reflects heightened volatility. On-chain indicators suggest Bitcoin may have found a local bottom, as large sellers have exhausted their selling power. Traders&#39; unrealized margins have improved significantly, indicating potential upward momentum. The German government&#39;s Bitcoin liquidation raised €2.6 billion ($2.88 billion), which helped reduce selling pressure and may pave the way for price recovery. &#x1f310; Spot ETFs Spark Optimism for Ethereum Ethereum (ETH) traded between $3,061 and $3,503, posting a 10% gain for the past week. The launch of spot ETFs is expected to change Ethereum&#39;s market dynamics significantly. Several Ethereum-ETFs have updated their filings with the SEC, with U.S. trading likely to begin on July 23, sparking optimism for substantial market inflows. Bitwise forecasts a potential price rise above $5,000 following these launches. &#x1f6e1;️ Hacking Incidents Raise Security Concerns Creditors of Mt. Gox have reported multiple attempted hacks on their accounts, raising security concerns. Additionally, Indian crypto exchange WazirX suffered a major hack, losing over $230 million, allegedly carried out by North Korean hackers. &#x1f4dc; Major Political and Legal Shifts Impacting Crypto Donald Trump has selected pro-crypto Ohio Senator JD Vance as his vice-presidential pick, potentially influencing future crypto-friendly policies. In a contrasting development, Senator Bob Menendez, known for his anti-Bitcoin stance, has been found guilty of bribery. Furthermore, FTX and the CFTC have agreed on a $12.7 billion settlement to compensate exchange clients, marking a significant resolution in the regulatory saga. Additionally, Craig Wright has published a legal notice on his website declaring he is not Satoshi Nakamoto, aiming to end the controversy and legal battles surrounding his identity. For more details, check out the <a href="https://gmt.io/media_room/blog/gomarket_weekly_19/" rel="noopener noreferrer nofollow">full analysis</a><a href="https://gmt.io/media_room/blog/gomarket_weekly_19/" rel="noopener noreferrer nofollow"> </a>and stay tuned for more insights and updates in next week&#39;s GoMarket Weekly!

🚀 GoMarket Weekly #19 🚀

GoMining

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