America

Bitcoin

Arkham

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-rises-amidst-market-fluctuations/" data-wpel-link="internal">Bitcoin Rises Amidst Market Fluctuations</a><br></p>
<p>July started relatively well for <strong>crypto investors</strong>, and we are seeing significant gains in altcoins. Some altcoins halved during the recent BTC decline over the past few weeks. Naturally, the return of these rapid losses should also be at a similar pace. And of course, BTC must remain strong at this point. If BTC determines the overall market direction, we must definitely examine whether the recent rise is permanent by looking at its foundation.</p> 
<h2 id="why-did-cryptocurrencies-rise">Why Did Cryptocurrencies Rise?</h2> 
<p>Between June 28 and July 1, BTC increased by roughly 5% and broke the $63,000 resistance for the second time in the last 7 days. Onchain analytics firm Arkham Intelligence announced today that the German government is again transferring BTC to exchanges. In addition to the $95 million BTC transfer, the US also transferred 1,184 BTC yesterday. Germany holds $2.8 billion worth of BTC from a copyright infringement operation.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-366961 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/BTCUSDT_2024-07-01_21-42-58.png" alt="" width="1149" height="529"></p> 
<p>The US holds $13.4 billion worth of <strong>BTC</strong>, and the accelerated transfers in recent days had worried investors due to the risk of massive sales. Despite the government’s sale exceeding $300 million, BTC remains strong, and there is a recovery in the ETH channel. There was an inflow of $137 million in 4 days.</p> 
<h2 id="dell-and-bitcoin">DELL and Bitcoin</h2> 
<p>We mentioned that founder Michael Dell has started to take more interest in <a href="https://en.coin-turk.com/bitcoin-and-ethereum-prices-may-face-further-declines/" data-wpel-link="internal">Bitcoin</a>. According to the Forbes list, he is one of the 20 richest people in the world, and his investment in <strong>Bitcoin</strong> would be very good news. His company has nearly $6 billion in cash and equivalent assets. If he allocates a portion of this to BTC, we might see speculation that other companies could follow suit. This was the second reason for the rise.</p> 
<h2 id="will-the-rise-be-permanent">Will the Rise Be Permanent?</h2> 
<p>Yahoo Finance reports that <strong><a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">technology company</a></strong> stocks are showing signs of weakening due to the growth experienced long before BTC. The report highlights the growth in companies like Tesla and NVIDIA, suggesting that if investors’ interest increases, we might see a shift from overvalued <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">technology stocks</a> to BTC. This was one of the main reasons for the rise.</p> 
<p>Stocks, real estate (the price of new single-family homes in America has hit a 6-month low, and lack of demand could positively affect inflation) prepared very early for the Fed’s easing scenario due to crypto’s unique problems. However, crypto did not rise as expected. The Fed’s softening, supported by the latest PCE data, could support this scenario in crypto.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-rises-amidst-market-fluctuations/" data-wpel-link="internal">Bitcoin Rises Amidst Market Fluctuations</a></h5>

Bitcoin Rises Amidst Market Fluctuations

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