Crypto Crash Pushes Fear & Greed Index to Lowest Since Bitcoin Traded at $17K in Early 2023 The widely-followed sentiment metric hit extreme greed levels earlier in March near the local top of the crypto market, but now is pushing its limits in the opposite direction.

U.S. Added 206K Jobs in June as Unemployment Rate Rose to Highest Since November 2021 Before this morning’s jobs report, market participants put nearly 70% probability of lower rates in September, according to the CME FedWatch Tool.

CoinDesk 20 Performance Update: Index Plunged, With All 20 Assets Declining The CoinDesk 20 Index dropped by 5.7% today, with every asset posting losses and LTC and ATOM leading the declines.

Bitcoin Traders Target $50K as Billions in BTC Selling Pressure Looms “The German government still has over $2.3 billion worth of bitcoin, Mt. Gox has more than $8 billion, and the US government has over $12 billion,” one trader pointed out.

First Mover Americas: Bitcoin Slumps Below $54K as Mt. Gox Flags Repayments The latest price moves in bitcoin (BTC) and crypto markets in context for July 5, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

U.S. Crypto Stocks Sink in Pre-Market Trading as BTC Slumps Software company MicroStrategy, which holds over 210,000 BTC, and bitcoin miner Hut 8 led declines as bitcoin dropped to the lowest level since late February.

U.S. Nonfarm Payrolls Eyed as Bitcoin Heads for Largest Weekly Loss Since FTX’s Collapse The jobs data, due later Friday, is forecast to show that the pace of job additions in the world’s largest economy slowed sharply in June.

As Bitcoin Bellyflops to $54K Only Five Mining Rigs Remain Profitable, Says F2Pool Miners need to continually sell bitcoin rewards to keep operations afloat, and they are stressed during a market downturn.

Mt. Gox Begins Repayments in Bitcoin and Bitcoin Cash The news of the repayments added selling pressure on bitcoin and the larger crypto market after Mt. Gox announced last month its intention to start repayments in July.

Bitcoin Dips Below $54K as Mt. Gox Moves $2.6B in BTC BTC slides to lowest since late February, breaching key price support.

Crypto Bulls Rack up $580M Liquidations as Bitcoin Drops 8%, Ether, Solana, Dogecoin Plunge Traders previously warned of the bearish market reaction to Mt. Gox’s bitcoin repayments.

Labour Landslide Sets Up Starmer as UK Prime Minister With Unstated Crypto Plans While the industry was not mentioned in the party’s manifesto or on the campaign trail, Labour has said it will support tokenization and a central bank digital currency.

Crypto for Advisors: Is Crypto Too Volatile? Bitcoin’s volatility is expected to continue declining with every halving. The next one, scheduled for 2028, will render bitcoin four times as scarce as gold. Increasing retail and institutional adoption of this technology is also bound to decrease volatility structurally over time.

Bitcoin Nosedives Under $58K Amid Mt. Gox, German Government Wallet Movements A wallet belonging to a German official entity moved its largest stash of BTC to exchanges earlier today, while Mt. Gox wallets showed activity for the first time in a month.

Mt. Gox Doomsday Scenario Involves Bitcoin Cash, Not Bitcoin: Analyst Selling pressure from Bitcoin Cash (BCH) and lack of liquidity is the story to watch once Mt. Gox begins redemptions, writes Presto Research.

Decoding The $7B Decline in Bitcoin’s Notional Open Interest The decline in notional open interest masks bullish undercurrents.

Bitcoin Drops Below 200-Day Average; Bull Market Trendline in Focus Markets that consistently trade below the 200-day SMA are said to be in a downtrend.

Bitcoin Plunges Under $59K as Crypto Bulls See $230M Liquidations Solana’s SOL and dogecoin (DOGE) lead losses among major tokens, with the CoinDesk 20 index down 4.8%.

When Do Secondary Token Sales Violate Howey? A federal judge overseeing the U.S. Securities and Exchange Commission’s case against Binance ruled that most of the case can proceed, but dismissed charges tied to the sale of BUSD and secondary sales of BNB.

The Protocol: ‘Private Jet Brandization’ Is One Way Polkadot Burnt Cash Crypto twitterati showed no mercy as Polkadot published a transparency report detailing spending on $87 million of DOT tokens – a lot of it on marketing. PLUS blockchain tech news and project highlights from the past week.