<\/p>\n\n\n\n
Bitcoin faced a decline on Friday, dropping below $116,000<\/strong> amidst growing caution in the market. The cryptocurrency fell by 1.8%<\/strong> to $115,555.4<\/strong> as of 01:28 ET (05:28 GMT), pressured by large wallet movements and profit-taking after a record high above $123,000<\/strong> last week.<\/p>\n\n\n\n The drop in Bitcoin\u2019s price came after a period of consolidation. Notably, Galaxy Digital<\/strong> transferred 3,420 bitcoins<\/strong>, worth approximately $395 million<\/strong>, to various exchanges within just 20 minutes<\/strong>, while also sending 250 bitcoins<\/strong> to an unknown address. These large transactions, tracked by Arkham Intel<\/strong>, led to increased caution in the market, with traders wary of potential market shifts following the whale trades.<\/p>\n\n\n\n Investors are awaiting the U.S. Federal Reserve\u2019s<\/strong> upcoming policy meeting on July 30<\/strong>. Although the central bank is expected to keep rates steady<\/strong>, traders will closely monitor any statements from officials for clues on future policy directions. The Fed\u2019s outlook, coupled with the release of a key crypto policy report<\/strong>, has created an atmosphere of uncertainty that is affecting risk appetite in the market.<\/p>\n\n\n\n Additionally, Bo Hines<\/strong>, the White House crypto adviser<\/strong>, announced that the President\u2019s Digital Asset Working Group<\/strong> has finalized its 180-day crypto policy report<\/strong>, which will be released on July 30<\/strong>. The report is expected to outline seized U.S. government-held Bitcoin<\/strong> and suggest how these assets might be managed. It is also anticipated that the report will propose a comprehensive regulatory framework<\/strong> for digital assets, providing further clarity to the crypto market.<\/p>\n\n\n\n In corporate news, MicroStrategy<\/strong> (now rebranded as Strategy<\/strong>) has significantly raised its preferred stock offering from $500 million<\/strong> to $2.8 billion<\/strong>, according to a Bloomberg<\/strong> report. The company, currently the largest corporate holder of Bitcoin, plans to use the proceeds to expand its Bitcoin holdings. This move reflects the growing importance of Bitcoin as a key driver for Strategy\u2019s valuation<\/strong>, highlighting the company’s continued bullish stance on the cryptocurrency.<\/p>\n\n\n\n Other cryptocurrencies have remained subdued on Friday after volatility earlier in the week. Most altcoins showed slight gains, with Ethereum<\/strong> rising 1.8%<\/strong> to $3,623.89<\/strong> and XRP<\/strong> climbing 2.8%<\/strong> to $3.116<\/strong>. However, Solana<\/strong> saw a slight decline of 1.6%<\/strong>, while Cardano<\/strong> and Polygon<\/strong> posted modest gains of 3.1%<\/strong> and 2.8%<\/strong>, respectively. Among meme tokens, Dogecoin<\/strong> fell 0.4%<\/strong>, while $TRUMP<\/strong> surged 1.7%<\/strong>.<\/p>\n\n\n\n The market continues to grapple with regulatory developments and potential trade policy shifts as Bitcoin<\/strong> and other cryptocurrencies face a period of uncertainty ahead of key reports and meetings.<\/p>\n\n\n\n <\/p>\n\n\n\n Bitcoin faced a decline on Friday, dropping below $116,000<\/strong> amidst growing caution in the market. The cryptocurrency fell by 1.8%<\/strong> to $115,555.4<\/strong> as of 01:28 ET (05:28 GMT), pressured by large wallet movements and profit-taking after a record high above $123,000<\/strong> last week.<\/p>\n\n\n\n The drop in Bitcoin\u2019s price came after a period of consolidation. Notably, Galaxy Digital<\/strong> transferred 3,420 bitcoins<\/strong>, worth approximately $395 million<\/strong>, to various exchanges within just 20 minutes<\/strong>, while also sending 250 bitcoins<\/strong> to an unknown address. These large transactions, tracked by Arkham Intel<\/strong>, led to increased caution in the market, with traders wary of potential market shifts following the whale trades.<\/p>\n\n\n\n Investors are awaiting the U.S. Federal Reserve\u2019s<\/strong> upcoming policy meeting on July 30<\/strong>. Although the central bank is expected to keep rates steady<\/strong>, traders will closely monitor any statements from officials for clues on future policy directions. The Fed\u2019s outlook, coupled with the release of a key crypto policy report<\/strong>, has created an atmosphere of uncertainty that is affecting risk appetite in the market.<\/p>\n\n\n\n Additionally, Bo Hines<\/strong>, the White House crypto adviser<\/strong>, announced that the President\u2019s Digital Asset Working Group<\/strong> has finalized its 180-day crypto policy report<\/strong>, which will be released on July 30<\/strong>. The report is expected to outline seized U.S. government-held Bitcoin<\/strong> and suggest how these assets might be managed. It is also anticipated that the report will propose a comprehensive regulatory framework<\/strong> for digital assets, providing further clarity to the crypto market.<\/p>\n\n\n\n In corporate news, MicroStrategy<\/strong> (now rebranded as Strategy<\/strong>) has significantly raised its preferred stock offering from $500 million<\/strong> to $2.8 billion<\/strong>, according to a Bloomberg<\/strong> report. The company, currently the largest corporate holder of Bitcoin, plans to use the proceeds to expand its Bitcoin holdings. This move reflects the growing importance of Bitcoin as a key driver for Strategy\u2019s valuation<\/strong>, highlighting the company’s continued bullish stance on the cryptocurrency.<\/p>\n\n\n\n Other cryptocurrencies have remained subdued on Friday after volatility earlier in the week. Most altcoins showed slight gains, with Ethereum<\/strong> rising 1.8%<\/strong> to $3,623.89<\/strong> and XRP<\/strong> climbing 2.8%<\/strong> to $3.116<\/strong>. However, Solana<\/strong> saw a slight decline of 1.6%<\/strong>, while Cardano<\/strong> and Polygon<\/strong> posted modest gains of 3.1%<\/strong> and 2.8%<\/strong>, respectively. Among meme tokens, Dogecoin<\/strong> fell 0.4%<\/strong>, while $TRUMP<\/strong> surged 1.7%<\/strong>.<\/p>\n\n\n\n The market continues to grapple with regulatory developments and potential trade policy shifts as Bitcoin<\/strong> and other cryptocurrencies face a period of uncertainty ahead of key reports and meetings.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin faced a decline on Friday, dropping below $116,000 amidst growing caution in the market. The cryptocurrency fell by 1.8% to $115,555.4 as of 01:28 ET (05:28 GMT), pressured by large wallet movements and profit-taking after a record high above $123,000 last week. Whale Movements and Profit-Taking Pressure The drop in Bitcoin\u2019s price came after …<\/p>\n","protected":false},"author":9,"featured_media":99111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[],"class_list":["post-117019","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=117019"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117019\/revisions"}],"predecessor-version":[{"id":117020,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117019\/revisions\/117020"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/99111"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=117019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=117019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=117019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Whale Movements and Profit-Taking Pressure<\/strong><\/h3>\n\n\n\n
U.S. Federal Reserve Meeting and Crypto Policy Report<\/strong><\/h3>\n\n\n\n
MicroStrategy’s Bitcoin Expansion Plans<\/strong><\/h3>\n\n\n\n
Altcoins Show Mixed Performance<\/strong><\/h3>\n\n\n\n
Whale Movements and Profit-Taking Pressure<\/strong><\/h3>\n\n\n\n
U.S. Federal Reserve Meeting and Crypto Policy Report<\/strong><\/h3>\n\n\n\n
MicroStrategy’s Bitcoin Expansion Plans<\/strong><\/h3>\n\n\n\n
Altcoins Show Mixed Performance<\/strong><\/h3>\n\n\n\n