Crypto News Today: Bitcoin Hits $65K While Worldcoin Soars

The Crypto market cap rose by 1.10%, hitting $2.52 trillion

• The scam typically begins with a Facebook ad, leading users to a company site featuring a “Letter from the Professor” or “Dean.”

• CryptoQuant CEO Ki Young Ju warns that Bitcoin is vulnerable to speculative FUDs, enabling savvy investors to buy cheaper Bitcoin.

Major Events To Watch

Crypto Fear and Greed Index:

The Crypto Fear and Greed Index is at 69 (Greed) today, up from 65 (Greed) yesterday and 29 (Fear) last week.

Cryptocurrency has experienced an upward trend over past day

TOP 5 Gainers Coins

Latest Market Update: 

• #Bitcoin ($BTC) surged, briefly surpassing $66K, trading positively in the green zone.

• Other popular altcoins like #Worldcoin ($WLD), #Dogecoin (DOGE), #Ripple ($XRP), #Maker ($MKR), and #Stacks ($STX) saw gains.

• #Worldcoin ($WLD) emerged as the biggest gainer with a 24-hour increase of over 24.84%.

• #Brett ($BRETT) was the biggest loser with a 24-hour decrease of over 3.46%.

• The total crypto market volume over the last 24 hours is $98.07 billion, marking a 17.78% increase.

• DeFi's total volume is currently $5.53 billion, representing 5.64% of the total crypto market 24-hour volume.

• The volume of all stable coins is now $89.96 billion, which accounts for 91.74% of the total crypto market 24-hour volume.

• Bitcoin’s dominance is currently 53.96%, an increase of 0.18% over the day

Major Worldwide News Update:

• BlackRock’s iShares Bitcoin Trust gathered $260 million on July 16, contributing over half of net inflows into spot Bitcoin ETFs, totaling $422.5 million. The Fidelity Wise Origin Bitcoin Fund followed with $61.1 million, and ARK 21Shares Bitcoin ETF with $29.8 million. BlackRock’s Bitcoin assets now exceed $20 billion.

• Washington’s financial regulator warns of a crypto scam where fraudsters pose as business “professors” from fake academies, luring victims via Facebook ads. They trick victims into providing personal details and depositing funds, promising high returns. Victims are then threatened with legal action if they don't repay loans.

• Fevered speculation over the US presidential election has driven crypto prediction platform Polymarket to record volumes, with $116.4 million recorded in July. Traders have wagered $263.5 million on the election outcome. Trump leads with 69% odds, followed by Biden at 19%. Polymarket also brought on election analyst Nate Silver as an advisor.

• Craig Wright, who claimed to be Bitcoin founder Satoshi Nakamoto, has been declared dishonest by the UK High Court. The court found he lied and forged documents, leading to potential perjury charges. Wright must publicly state he is not Bitcoin's creator on his website and social media. Additionally, a Worldwide Freezing Order was issued against him.

• The impact of Mt. Gox’s repayments on Bitcoin is overestimated and seen as an opportunity for whales to buy BTC at a discount, says CryptoQuant CEO Ki Young Ju. He noted that the $3-9 billion BTC sales are negligible compared to Bitcoin's market cap increase. Many investors panic sell, while "smart money" accumulates more Bitcoin.

• At Fortune Brainstorm Tech 2024, Ripple CEO Brad Garlinghouse criticized the U.S. SEC as “Luddites,” expressing frustration with U.S. crypto regulations. He highlighted Ripple's growth outside the U.S., with 95% of customers and payments now non-U.S. Garlinghouse also noted the partisan divide on crypto policy, urging clearer regulations and bipartisan support.

COIN GABBAR Views: Can Bitcoin bulls break through the $66K challenge and continue the bull run? With Bitcoin's price on the rise, is the $70K mark within reach? Are Bitcoin bears trapped, and what does this mean for the future price movement? Following Mt. Gox's massive Bitcoin transfer, is this the right time to buy or sell? Can BTC surpass $70K? To get latest news Stay tuned us at coingabbar

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