Bitcoin has recently surged past the $65,000 mark, driven by positive U.S. jobs data and expectations of further economic stimulus from China. This rally in Bitcoin's price coincided with a broader upswing in the stock market, which was influenced by favorable labor market indicators in the U.S. and pledges from Chinese leaders to enhance economic support through additional stimulus measures. The U.S. Labor Department reported a decline in jobless claims, which fell by 4,000 to a four-month low of 218,000. This positive labor market news contributed to the overall market optimism. In China, the Politburo emphasized the need for effective policy measures to stimulate the economy, which included a significant commitment to fiscal spending and interest rate cuts. Jake Ostrovskis, an OTC trader at Wintermute, highlighted the importance of these developments, noting that the improving liquidity environment is fostering a bullish sentiment in the market. He pointed out that U.S. spot exchange-traded funds (ETFs) have seen their fifth consecutive day of inflows, further supporting Bitcoin's price increase. However, Ostrovskis also warned that the $65,000 level is crucial for Bitcoin's continued upward momentum. If this threshold cannot be maintained, it could lead to downward pressure on prices. He mentioned that the current buildup in open interest might make the market susceptible to sharp corrections. In response to the stimulus measures, Chinese stocks have rallied, with initiatives aimed at lowering borrowing costs and stimulating economic activity. These measures include cutting mortgage interest rates and reducing reserve requirements for banks, which are intended to enhance lending capabilities and boost domestic demand. The People's Bank of China has emphasized that these actions are designed to increase investor confidence. Despite Bitcoin's recent gains, some analysts have noted that it has underperformed compared to U.S. equities and Chinese stocks since the announcement of China's stimulus packages. Aurelie Barthere from Nansen observed that the Chinese measures primarily impact the domestic economy, which may explain the relative underperformance of Bitcoin. Additionally, analysts at Bitfinex expressed concerns about market uncertainty, stating that tail risk assets like Bitcoin are not currently attracting passive flows. They indicated that a reduction in uncertainty is necessary for passive demand to return to Bitcoin. Overall, while Bitcoin's price has seen a significant rally due to positive economic indicators and stimulus measures, there are underlying concerns about its sustainability and the potential for market corrections.

The price of Bitcoin has dropped below $69,000 as investors wait for U.S. Consumer Price Index data that could influence the Fed's decision on interest rates. Although the market is divided on the possibility of a June rate cut, strong employment data suggests the Fed may maintain current rates, even as inflation is expected to show an increase.

Bitcoin is approaching its all-time high, eclipsing $68,000. With this surge in price, Bitcoin is closing in on silver's $1.4 trillion market cap. Meanwhile, Ethereum also hit a significant milestone, surpassing $3,700 for the first time since January 2022. This comes on the back of record inflows into BlackRock and other funds’ spot Bitcoin ETFs.

Bitcoin's recent price rebound above $57k was supported by record-high inflows into U.S. spot BTC ETFs of around $300M on July 8th, the highest since early June. Institutional investors seem to be using the price dip as a buying opportunity.

Bitcoin's long-term holder growth rate is indicating early bullrun signs. A buoyant supply delta and the Bitcoin Macro Index point to strong expansion. While the trend suggests a significant uptrend in the coming months, it could be potentially faster than the average progression and there is a possibility of some short-term volatility or pullback. The era of "deep value" Bitcoin is over, giving way to a "Bitcoin Momentum era."

Bitcoin broke its all-time high yesterday, eclipsing $69,000 before swiftly dropping to $59,700 after a sharp sell-off. This sharp drop led to over $1 billion in liquidations, one of the largest liquidation events since the last cycle. In the hours after this liquidation cascade, Bitcoin recovered to $62-$63k with overall leverage at a much lower level.

Bitcoin's price went back up to $57k after briefly dropping below $55k, triggering almost $160M in BTC liquidations amidst selling pressure from the German government and the Mt. Gox estate liquidations.

Bitcoin hit its lowest price since February, and the rest of the market saw greater than 20% decreases in one of the biggest selloffs since FTX. Investors are reacting to several events, including Jump Crypto liquidating hundreds of millions of dollars of assets, the increasing chances of a Kamala Harris presidency, and a sharp decline in Japan's stock market. There are also fears about an impending recession, and ETHE investors are selling their positions in the Grayscale trust.

The recent collapse of the Japanese yen carry trade reminds investors that Bitcoin, once viewed as a potential hedge against traditional market swings, remains deeply influenced by broader financial trends. Despite high hopes for a crypto boom this summer, Bitcoin's significant market losses suggest that its future as "digital gold" is far from certain, and further pain might be on the horizon as global markets continue to adjust.

Crypto traders have locked in $345M in bitcoin options expiring shortly after the U.S. elections on November 4, demonstrating a bullish sentiment with twice as many calls as puts. These election-dedicated options show traders expect a significant price rise following elections.

Standard Chartered's Geoff Kendrick is expecting a sustained rally for Bitcoin and other digital assets since the Fed Reserve's rate cut, attributing the expected growth more to favorable macroeconomic conditions than to the outcome of the U.S. presidential election.

$256 million worth of long positions were liquidated in Bitcoin's recent price drop. Analysts expect this to be a short-term downturn before the market improves. Despite the dip, demand from Bitcoin whales is growing, with demand from holders outstripping the market supply of new Bitcoin for the first time.

The recent growth in the market capitalization of stablecoins is playing a significant role in providing liquidity that may support an increase in the price of Bitcoin and other major cryptocurrencies. According to CryptoQuant, this trend is crucial for the overall health of the crypto market. Julio Moreno, the Head of Research at CryptoQuant, emphasized that the inflow of stablecoins onto centralized exchanges has been notable, with USDT reserves reaching a record high of $22.5 billion in 2024. This influx of stablecoins is seen as a positive indicator for potential price growth in Bitcoin. The stablecoin market capitalization has hit a record high of $169 billion this year, and there is a strong correlation between the total market cap of stablecoins and rising Bitcoin prices. CryptoQuant's analysis indicates that the net inflow of stablecoins onto exchanges can serve as a predictive tool for Bitcoin's future price movements. Notably, there was a significant correlation observed in September between Bitcoin's price and the net inflows of stablecoins, particularly influencing the price increase towards the end of that month. In addition to the stablecoin dynamics, K33 Research has identified several bullish factors for Bitcoin as the market approaches the fourth quarter. These include a shift in the Federal Reserve's policy, efforts by China to enhance liquidity, and the recent approval of options trading on spot Bitcoin exchange-traded funds (ETFs). The report highlights that these developments are likely to generate momentum and drive further activity in the global markets. The approval of institutional options trading on BlackRock's spot Bitcoin ETF is particularly noted as a catalyst for optimism, with expectations of increased ETF inflows to meet the demand for options exposure. Overall, the combination of stablecoin market growth and favorable macroeconomic factors is creating a potentially bullish environment for Bitcoin and the broader cryptocurrency market as it heads into the final quarter of the year.

The recent activity in the cryptocurrency market highlights significant developments, particularly regarding Ethereum (ETH) and its performance. ETH has reached $45 million in weekly fees, marking the highest level since June 10, 2024. This surge in fees indicates a robust increase in network activity, showcasing Ether's resilience and growth, even as Bitcoin continues to dominate discussions in traditional finance as "digital gold." The focus on Ethereum's performance is crucial, especially as it contrasts with Bitcoin's narrative. While Bitcoin garners more attention, Ethereum's increasing network engagement and price movements are noteworthy. This trend suggests that investors and users are recognizing the potential of Ethereum beyond its initial use cases, leading to a more dynamic ecosystem. In addition to Ethereum's performance, the broader landscape of cryptocurrency investments is evolving. For instance, discussions around leveraged trading strategies, such as those employed by significant players in the market, reveal the complexities and risks involved in trading. One example includes a prominent Aave GHO whale who has been strategically increasing their leveraged ETH position. This approach involves minting GHO with wrapped staked ETH (wstETH) and converting the stablecoin back into ETH, highlighting the intricate strategies traders are using to navigate the market. Moreover, the emergence of new platforms like Symbiotic, which facilitates coordination between users and services for enhanced security through liquidity, indicates a growing interest in innovative solutions within the Ethereum ecosystem. This platform aims to compete with existing solutions like Eigenlayer, which has already seen substantial growth in total value locked (TVL). As the market continues to evolve, understanding on-chain analytics and market indicators becomes increasingly important for investors. Tools like the Market Value to Realized Value (MVRV) ratio can provide insights into market trends, helping traders identify potential buying opportunities when the value dips below certain thresholds. Overall, the cryptocurrency market is witnessing a blend of traditional narratives and innovative strategies, with Ethereum's performance and the rise of new platforms playing a pivotal role in shaping the future of digital assets.

JPMorgan predicts that the price of Bitcoin will decline after the halving to around $42,000. The halving, which reduces Bitcoin's supply growth, could also prompt mining companies to relocate to regions with lower energy costs.

Coinbase's recent weekly report suggests the U.S. economy may have peaked in Q2 '24, which may discourage retail investors from further investing in crypto or stocks. The report talks about key recession indicators like a rising unemployment rate and an inverted Treasury yield curve amidst expectations of a September Fed rate cut.

Arthur Hayes, co-founder of BitMEX, suggested that the crypto bull market is coming back because of recent interest rate cuts by the Bank of Canada and the European Central Bank, potentially marking the start of a global easing cycle. He speculated about further rate cuts by other central banks, and took a cautious stance on the U.S. Fed's actions given the proximity to the presidential election. Hayes ultimately concluded by encouraging investments in bitcoin and other crypto in light of these developments.

The Bitcoin power law (which predicts consistent price growth for Bitcoin) continues to be highly debated. Skeptics continue to challenge its validity, while believers claim it's a legitimate model proven by behaviors observed on Bitcoin's network and market activities.

This past weekend, the total market cap of stablecoins (excluding algorithmic stablecoins) hit its all-time high at $168.1 billion. This surpassed the previous high from March 2022, and is a $40 billion increase from October 2022 lows. Analysts see this metric as a signal that there is growing confidence and interest in the market from institutional investors.

This weekend event triggered ~$170M in short liquidations, emphasizing a strong bullish sentiment among investors despite potential upcoming challenges from scheduled market events like the Mt. Gox liquidation.

Traditional indicators for cryptocurrency market tops might not be relevant in the current cycle. The increasing influence of institutions like BlackRock on Bitcoin sentiment and the mainstream adoption of crypto could change what traditional market tops look like. Look for broader signals, such as sovereign wealth funds investing in Bitcoin, corporate treasuries diversifying into crypto, crypto company IPOs, and potential crises from over-leveraging or restaking in the sector.

The Crypto Fear & Greed Index dropped to an "Extreme Fear" level of 17 out of 100 on Monday, marking its lowest point since July 2022. U.S. spot Bitcoin ETFs saw major outflows totaling $168M, highlighting a sharp decline in market sentiment and investor confidence.

Donald Trump- and Joe Biden-inspired memecoin prices have risen significantly over the last 24 hours. The MAGA coin is up 44% and the Biden coin is up 22%. This rally seems to stem from Trump recently announcing that his campaign will accept crypto donations.

Bitcoin and Ethereum have had similar returns since the cycle bottom, raising questions about whether an ETF would provide much upside. After accounting for GBTC rotations and conversions of spot BTC to ETF, the total true net buying inflow from the BTC ETFs was $5B, which implies $0.84B in net buying for ETH based on analysis. Crypto natives' expectations for the ETF are overinflated, as Bitcoin has a better mind share within institutional investment circles while selling ETH as a tech asset is more difficult.

This thread cites several factors for the bull case for Ethereum and an eventual $10,000+ price. The early pivot to Layer 2s and the commitment from innovative companies, like StarkWare and Coinbase, in building L2s demonstrates industry confidence. Even though L1 transaction costs remain high, the mainnet remains a place for the highest-security transactions, and the deflationary nature of ETH incentivizes investors to hold. Institutions and governments seem to be warming up to Ethereum, as demonstrated by BlackRock’s onchain fund and the CFTC’s declaration that Ethereum is a commodity.

Bitwise highlights Bitcoin's ability to let users hold and control their wealth independently of centralized institutions. Despite its volatility and lack of governmental endorsement, Bitcoin's value is underpinned by its scarce supply and high demand. Bitcoin skeptics fail to appreciate its resistant nature to censorship and the fundamental market principles that determine its pricing.

This thread compiles various tweets that are bullish on the Bitcoin mining sector. They cite concerns surrounding capital expenditures, competition, and the environmental impact. Marathon, the biggest mining company, has 25% short interest as a percentage of its float. CleanSpark has been seeing insider selling since the beginning of this year.

A report by VanEck reveals that approximately $175 billion worth of bitcoin is held by ETFs, nations, and both public and private companies, which makes up about 15% of the total Bitcoin supply. This holding demonstrates increasing institutional interest and acceptance of bitcoin as a viable store of value, with more involvement from hedge funds, asset managers, and endowments.

Friday saw terrible macro signals, including the 10-year Treasury rate falling 40bps and poor equity performance, but there will likely be a rate cut in September, and it is still an election year. Jump Crypto sold hundreds of millions of ETH in a short period, contributing to the rapid price decline, and the negative ETF flows are hurting the market in the short term but necessary for new capital flows in the long term. Though a democratic election is perceived to hurt crypto, the Middle East tensions may not matter in the long term, and the Mt Gox and Genesis distributions are nearly complete.

Investors recently withdrew ~$206 million from crypto investment products (e.g., ETF/ETP), likely due to expectations of persistently high interest rates. U.S. spot bitcoin ETFs had significant withdrawals, while crypto futures in the U.S. saw even larger outflows, contrasting with inflows in Canada and Switzerland.