Crypto News Today – July 8th, 2024

Welcome to “Crypto News Today,” your daily summary of  the Crypto Industry.

Crypto Fear & Greed Index Hits Low, Bitcoin May Drop Further

The Crypto Fear & Greed Index has plummeted to its lowest level since early 2023, indicating extreme fear in the market and suggesting a potential bounce in Bitcoin’s price. This shift comes as significant Bitcoin holdings, including those by the German and U.S. governments and the Mt. Gox estate is poised for liquidation, adding to market pressure. Analysts warn that Bitcoin could drop to $50,000 in the coming months, with investor sentiment at its most negative since the end of the 2022 crypto winter. Read all about it on the TDR Website! 

Inflows to US Spot Bitcoin ETFs Spike $143.1M as Investors Buy the Dip

The inflows to US spot Bitcoin ETFs have surged by $143.1 million, with investors taking advantage of the recent dip in Bitcoin prices. This significant increase highlights the growing confidence in Bitcoin’s long-term potential amidst market fluctuations.

Solana-Based Memecoin Billy Continues Upward Trend, Soars Over 44% Days After Listing

Billy, a memecoin on the Solana blockchain, has seen its value soar over 44% just days after its listing. The token’s impressive performance reflects the ongoing enthusiasm and speculative interest in the memecoin market.

German MP Urges Government to Halt BTC Sales, Calls for Strategic Reserve

A German MP has called on the government to stop selling Bitcoin, advocating instead for the creation of a strategic reserve. This concern aims to position Germany as a leader in the digital asset class.

Canadian Regulator Probe Determines Liquitrade Operates an Illegal Crypto Exchange

A Canadian regulatory investigation has concluded that Liquitrade is operating as an illegal crypto exchange. This determination underscores the ongoing regulatory challenges and the need for compliance in the cryptocurrency sector.

Biden’s Odds on Polymarket Little Changed After ABC TV Interview

President Biden’s odds on the prediction market platform Polymarket remained largely unchanged following his interview on ABC TV. The interview did not significantly impact the market’s perception of his future political prospects.

Read more crypto news on the TDR Website! 

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