Weekly Developments:
| Date | Time | Currency | Event | Forecast | Previous Month Announced Data |
|---|---|---|---|---|---|
| July 17, Wednesday | 12:00 | EUR | Consumer Price Index (CPI) (YoY) (Jun) | 2.5% | 2.6% |
| July 18, Thursday | 15:15 | EUR | European Central Bank (ECB) Interest Rate Decision | 4.25% | 4.25% |
| July 19, Friday | South Korea is expected to publish a document on the Digital Asset User Protection Law |
SEC-Ripple Case
XRP whales have recently accumulated around 110 million coins, pushing the altcoin’s price above $0.53. This price surge and market interest appear to be linked to speculation about a potential settlement in the Ripple vs. SEC lawsuit.
Bankrupt Gemini Sells BTC
Bankrupt crypto exchange Gemini sold hundreds of millions of dollars worth of Bitcoin last week. According to on-chain analytics platform Arkham, an address marked as Genesis Trading transferred approximately 12,000 BTC (worth around $760 million) to Coinbase over the past month. These transactions are believed to be related to Genesis’s bankruptcy liquidation process. If this is the case, Genesis may sell approximately 33,000 BTC worth $1.9 billion in the near future, potentially creating new selling pressure. Additionally, the company holds $365 million in Ethereum and $5.5 million in Compound (COMP), as well as smaller amounts of TRON (TRX), The Sandbox (SAND), The Graph (GRT), and USD Coin (USDC). In May of this year, Genesis Global was approved to liquidate and distribute its assets as part of its bankruptcy restructuring plan. Genesis has faced tough times and creditor lawsuits involving its parent company Digital Currency Group (DCG) and Gemini.
$60 Million Investment in Crypto Project by Giants Like JPMorgan and Standard Chartered
Banking giant JPMorgan and other companies invested in an unreleased project. The blockchain payment network Partior, backed by JPMorgan and Standard Chartered, raised over $60 million in a Series B round led by Peak XV Partners. This new capital will help the company develop its blockchain-based interbank system for real-time clearing and settlement. Partior received support from global financial giants like JPMorgan, Standard Chartered, and Temasek, as well as new investors like Valor Capital and Jump Trading. Partior’s CEO, Humphrey Valenbreder, stated that the company aims to remove barriers and reshape international money transfer and settlement processes with its blockchain-based solutions.
Assassination Attempt on Trump
Former US President and Republican presidential candidate Donald Trump was the target of an assassination attempt on July 13 during a campaign rally in Pennsylvania. The FBI identified the deceased suspect as 20-year-old Thomas Matthew Crooks. The motive for Crooks’s planned assassination remains unknown. During the incident, one person watching Trump was killed, and two others were injured. After the assassination attempt, Trump thanked his supporters in his statement.
Ethereum ETFs Launching
According to reports on Monday, the SEC has preliminarily approved Ethereum ETF applications from BlackRock, Franklin Templeton, and VanEck. Analysts note that although only three out of eight applications were approved, all Ethereum ETFs will be launched next Tuesday. This could lead to significant movement in ETH prices.
Germany Completely Transfers Its Bitcoins to Exchanges
One of the most talked-about topics recently has been the wallet activity of the German government, which concluded last week with the final transfer. The German government transferred approximately 50,000 Bitcoins to exchanges over a month, completing a $3 billion sale and depleting its Bitcoin holdings. Following the German government’s depletion of its Bitcoin, small amounts of Bitcoin and notes were seen being sent from individual wallets to the government wallet.
BTC:
According to the Elliott Wave Theory analysis on the EgeMoney website, corrections can be expected for Bitcoin. Medium and long-term pullback targets exist. In the long term, targets are $59,428 to $53,835, while medium-term targets are $51,074 to $41,456, serving as potential support levels for further declines.
Uzmanlık alanlarım arasında temel ve teknik analiz, portföy yönetimi, risk analizi ve pazar araştırması bulunmaktadır. Hızla değişen piyasa koşullarına uyum sağlama ve rapor üretme benim önceliklerim arasındadır. Finansal geleceğinizi şekillendirmek ve karar alma süreçlerinize değer katmak amacıyla araştırmalarımı EgeMoney platformu üzerinden sizlere sunuyorum.
