Aurelia Butler

The outflow was revealed in a report by James Butterfill, CoinShares’ head of research. Bitcoin (BTC) investment products saw a notable outflow of $13 million during the week ending July 21. A reversal came after five consecutive weeks of inflows.The overall digital asset funds also witnessed weekly outflows of $6.5 million, following four weeks of substantial inflows totaling $742 million.During the same period, short Bitcoin products also experienced outflows totaling $5.5 million.In contrast, investment products related to Ether (ETH) and XRP (XRP) recorded a combined inflow of $9.2 million over the past week.Ether emerged as the top performer, attracting $6.6 million in inflows, while XRP funds also garnered investor interest with an influx of $2.6 million.Flows by leading digital asset investment products | Source: CoinSharesOther altcoins, such as Solana (SOL) and Polygon (MATIC), also witnessed some attention, tracking inflows of $1.1 million and $0.7 million, respectively.The latest trend reversal for BTC investors seems to be linked to a lack of positive news following some major catalysts in recent weeks. Notably, global asset management giant BlackRock (NYSE:BLK) filed for a long-awaited spot BTC exchange-traded fund on June 15, leading to increased investments in BTC-focused funds over the following month at a rate not seen since October 2021.Other financial institutions that have filed for Bitcoin spot ETF applications with the SEC since mid-June include ARK Invest, Fidelity, Galaxy Digital, VanEck, Valkyrie Investments, NYDIG, SkyBridge, and WisdomTree.Moreover, XRP’s partial court victory over the U.S. Securities and Exchange Commission (SEC) on July 13 initially boosted BTC’s price to a yearly high before it fell below $30,000. However, this ruling improved investor confidence in altcoins, as indicated by positive fund flows in the past week.Notably, Bitcoin continues to dominate the digital asset market, attracting $558 million in inflows in 2023. Its total assets under management amount to $25 billion, accounting for 67.4% of the total market share.At the time of writing, BTC is exchanging hands at $29,186, experiencing a 2% drop over the last 24 hours.This article was originally published on Crypto.news More

John Belizaire, CEO of Soluna Holdings, commented, “We continue to execute on the plan laid out in my letter to shareholders. In June we gave an operational update that focused on achieving cash flow positive from operations during the second half of 2023. As one can see by these updates, we continue to get more miners online, and are now on track to exceed 2 EH/s under management.”Project Sophie (Hosting):Project Dorothy 1A (Hosting):Project Dorothy 1B (Prop-Mining):Additional Company Updates:Note(s):1 Under GAAP accounting rules, the new Project Sophie hosting contract revenue does not include power cost as it is a passthrough cost. Project Sophie’s earning power appears in the Earnings Power Illustration dated June 21, 2023.Safe Harbor StatementThis announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.About Soluna Holdings, Inc (SLNH)Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as Bitcoin mining, AI, and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’View source version on businesswire.com: https://www.businesswire.com/news/home/20230725248272/en/Sam SovaFounder and [email protected]: Soluna Holdings, Inc. More

The primary cause of such a prediction is the potential for a liquidation spiral. If Bitcoin’s price dips below the $29,000 threshold, we could see an avalanche of long liquidations. Long orders from $29,000 to $28,500 are aligned in a cascade-like fashion, meaning a price drop would likely lead to a series of liquidations, causing a further dip in Bitcoin’s price.This kind of downward spiral has been observed before and can exacerbate the volatility of Bitcoin’s value. These rapid, cascading liquidations can quickly drive the price downward, creating a bearish environment that could lead to the suggested $28,500 price target.However, it is important to note that this is not a one-way street. If such a significant price drop were to occur, many traders might view it as an opportunity to “catch a knife.” This term refers to the practice of buying an asset after a significant price decline in the hopes of profiting when the value rebounds. In the event of a sudden drop in price, we could see a surge in long order volumes as traders attempt to capitalize on the situation.While these predictions are based on market behaviors and technical indicators, they remain speculative. Bitcoin’s volatile nature and the numerous variables affecting its price make predicting future values challenging. Therefore, traders should exercise caution and not base their analysis solely on technical data or the futures market.This article was originally published on U.Today More

In a tweet published on July 24, decentralized game publisher Treasure posted that its X accounts, Playontreasure and Playbridgeworld, were taken over by hackers. The organization warned users to refrain from interacting with links shared by the accounts. Continue Reading on Coin Telegraph More

Uncertainty over the value of the contents is the primary risk connected to NFT mystery boxes. That said, there is a possibility that the contents of the box may not live up to expectations or have the desired value. Continue Reading on Coin Telegraph More

As expected, Bitcoin (BTC) led the liquidations with a total of $40.63 million in liquidations recorded overnight. Long traders accounted for $37.95 million of this bogus sum, and short traders about $2.69 million. Ethereum (ETH) ranked as the second most liquidated digital currency with a total of $12.14 million.The liquidation figure is justified, seeing the price of both Bitcoin and Ethereum plummeting by a mile over the past 24 hours. While BTC is trading at a price of $29,185.25, down by 1.91% to breach the core support level at $30,000, Ethereum has shed as much as 0.84% to $1,854.29 within the same time span.Surprisingly, the Worldcoin (WLD), which was supported by some of the biggest exchanges, also recorded a mild liquidation of $4.45 million, per CoinGlass data.Thus far this year, there are a series of made by U.Today, and naturally, the liquidations tend to clear off as market conditions return to being favorable. At the moment, the broader ecosystem appears distracted by the events around Twitter’s rebranding to X, especially as it the future of cryptocurrencies like Dogecoin (DOGE).The crypto ecosystem has exhibited strong resilience over the past few months; this current setback may be another springboard for new rallies.This article was originally published on U.Today More