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Once the Mt. Gox wallets start distributing #Bitcoin, we'll likely get a short scare in the market.
People will think, okay now it's really happening.
Some coins will get sent to exchanges.
Some coins will be sent to unknown wallets.
Some coins will be idle.
What the real impact will be is something we'll only figure out as time goes on.
Most selling that will occur will happen at the beginning and will slowly fade out over time. Similar as to how the $GBTC outflows have went.
After the initial week or two, people will stop talking about it every day and we'll just be on to our regular day to day things within the market.
These Mt. Gox coins have been something that has caused FUD for years and has always been a fear of many. So although it's not nice short term, getting this massive supply overhang out of the way sets the market up nicely in the long run.
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Bitcoin spot ETFs had a total net outflow of $13.6167 million on July 2, the first net outflow after net inflows in the past 5 days. Grayscale ETF GBTC had a single-day outflow of $32.3779 million, BlackRock ETF IBIT had a single-day inflow of $14.1154 million, and Fidelity ETF FBTC had a single-day inflow of $5.4189 million.
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Spot Ethereum ETFs Expected to Attract $15 Billion
Bitwise CIO Matt Hougan predicts that spot Ethereum ETFs will attract $15 billion in net inflows within 18 months of their U.S. launch. Despite lacking a staking feature and the influence of carry trades, Hougan based his forecast on comparisons to spot Bitcoin ETFs, which reached $15 billion in inflows in five months, and expects proportional investor allocation between Bitcoin and Ethereum ETFs.
Source: The Block
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Julian Assange is finally FREE wikileaks @Insider_leak_of_the_day Share with your friends
According to Arkham, the German Government transferred a total of 250 BTC to Bitstamp and Kraken at 15:51 UTC+8 (125 BTC each), worth approximately $15.42 million. Since last week, the German Government has transferred a total of 2,350 BTC to CEX. — link
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⚠️REMINDER:
??U.S. STOCK MARKETS ARE CLOSED WEDNESDAY FOR THE JUNETEENTH HOLIDAY
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Security agency Dilation Effect recommends that cryptocurrency investors restart their phones once a week. After restarting, hackers may need to rerun the exploit code so that the victim will find out. It also recommends that iPhone users turn off the iMessage function forever. — link
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Michael Dell says that Dell is building an “AI factory with Nvidia” which will power Elon Musk’s xAI and Grok.
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Last updated 3 days, 5 hours ago