According to Odaily, CryptoQuant analyst AxelAdlerJr has reported a significant decrease in the number of Bitcoin deposit addresses on exchanges, reaching a low of 25,000. This development is seen as a crucial indicator that may suggest a shift in investor strategy regarding Bitcoin holdings. The analysis indicates that the reduction in addresses prepared to sell Bitcoin suggests that most holders prefer to retain their assets, anticipating further price increases. From a behavioral economics perspective, this trend may reflect growing confidence among Bitcoin investors. This change in behavior could be driven by factors such as increased institutional investment in cryptocurrencies. Additionally, the decreased willingness to sell assets may lead to a reduced supply of Bitcoin in the market. With stable or increasing demand, this could result in a price rise, signaling a bullish outlook for the market.

According to Matrixport's latest chart released today, the realized volatility spread between Ethereum and Bitcoin is currently at a low level, indicating that both cryptocurrencies are experiencing similar levels of market fluctuation.Historically, Ethereum has been considered to have greater upside potential, which usually results in its volatility being approximately 50% higher than that of Bitcoin. However, the current data shows that the realized volatility of both Ethereum and Bitcoin is on par, with a ratio of 1.0.This unusual alignment in volatility comes at a time of heightened speculation and anticipation in the market, especially ahead of the launch of significant financial products. Analysts and traders often observe volatility metrics to gauge market sentiment and potential price movements, and this parity suggests a unique period of market dynamics.  4o

In a recent post on X, renowned cryptocurrency analyst Willy Woo shared his insights on five macro signals for Bitcoin, identifying three bullish indicators and two bearish factors. Here’s a closer look at his analysis:Bullish IndicatorsEnd of Miners Capitulation:Woo considers the end of miners' capitulation a reliable bullish indicator. With miners no longer offloading their holdings, this suggests a stabilization and potential upward momentum for Bitcoin.Hash Rate Recovery:The Bitcoin network's hash rate is recovering, coinciding with the deployment of next-generation mining hardware such as the M66s and S21 Pros. Woo notes that the hash rate is set to increase significantly, indicating network strength and miner confidence.Puell Multiple:The Puell Multiple, which measures miners' relative profit to past revenues, has hit a crucial macro bottom. This two-part signal suggests:Macro bottoms occur when mining profitability is at its lowest.A signal bottom happens post-Bitcoin halving, when miner earnings are halved, setting the stage for a bull run.Woo asserts that miners are now poised to earn substantial profits, making it a good time to invest in mining operations.Bearish IndicatorsIncrease in Coins Entering Exchanges:A significant amount of Bitcoin, notably 50,000 BTC from Mt. Gox, is being moved to Kraken. This influx is being front-run by other large transfers, potentially increasing selling pressure.Ethereum Spot ETF Launch:The imminent launch of the Ethereum spot ETF could divert capital from Bitcoin ETFs to Ethereum ETFs. The extent of this shift is uncertain but represents a bearish risk for Bitcoin.Overall OutlookWoo concludes with an optimistic view, believing that the bullish factors outweigh the bearish ones. He notes that breaking the $73,000 level could trigger a short squeeze, propelling Bitcoin to $77,000 and beyond, entering a phase of price discovery.This comprehensive analysis by Woo provides a nuanced view of the current market dynamics, highlighting the interplay between fundamental strength in mining and potential short-term pressures from increased exchange inflows and the new Ethereum ETF.

According to CoinDesk: Bitcoin (BTC) traded near $66,000 as the defunct crypto exchange Mt. Gox initiated another significant transfer of its assets. The latest tranche, worth over $2.5 billion, was moved between wallets, with some being sent to the crypto exchange Bitstamp, historically leading to sell-offs in the broader market.Key MovementsMajor Transfers: According to Arkham data, Mt. Gox transferred over $2.85 billion worth of BTC to a new wallet in the early hours of Tuesday in the Asian markets. This included:5,000 BTC worth $340 million to one wallet.37,000 BTC worth $2.5 billion to another wallet.Exchange Activity: From the 5,000 BTC wallet, approximately $130 million worth of BTC was moved to Bitstamp, signaling a potential intent to sell holdings.Test Transactions: The movements come a day after Mt. Gox conducted smaller test transactions to Bitstamp.Impact on Bitcoin PriceThe market reacted to these movements, with Bitcoin dropping below $67,000 earlier on Tuesday. This decline in sentiment comes as U.S. investors anticipate the first trading of spot Ether (ETH) exchange-traded funds later in the day.BackgroundIn early July, Mt. Gox began repaying creditors affected by the 2014 hack. Over $9 billion worth of BTC and $73 million in Bitcoin Cash (BCH) are scheduled to be distributed to traders in the coming months.AnalysisThe substantial movement of BTC by Mt. Gox continues to impact market sentiment, as large transfers to exchanges typically signal upcoming sell-offs. The anticipation of Ether ETFs trading in the U.S. adds another layer of complexity to market dynamics. Investors should remain cautious and monitor further developments from Mt. Gox and the broader crypto market.

According to Cointelegraph: BlackRock’s iShares Bitcoin Trust ETF (IBIT) has recorded its largest inflow day in over four months, with over $523 million flowing into the fund on Monday. This surge in investment coincides with the approval of multiple spot Ether ETFs for trading in the United States.Key Highlights:Record Inflows: The IBIT scooped up 7,759 Bitcoin, worth just over $523 million, marking the seventh-largest day of inflows in its history.Total Assets: The total assets under management for IBIT now stand at 333,000 BTC, valued at approximately $22 billion.Historical Context: The largest single-day inflow for IBIT was on March 18, with $849 million added, followed by $788 million on March 5.ETHE discount to net asset value has tightened ahead of the launch of the spot ETH ETFs. Source: KaikoMarket Reaction: Bitcoin briefly surged above $68,000 but failed to maintain momentum, trading at $66,440, a 1.8% drop over the past 24 hours.Industry Impact:ETF Competition: On the same day, the remaining 10 U.S.-listed Bitcoin ETFs saw combined net inflows of just $6.9 million, underscoring BlackRock's dominance in attracting investor funds.Investor Sentiment: The significant inflows reflect strong investor interest and confidence in Bitcoin, despite its inability to break through key resistance levels.Estimates for spot ETH ETF inflows compared to BTC ETFs. Source: ASXNMarket Outlook:The anticipation surrounding potential announcements at the Nashville Bitcoin conference, particularly the speculation that Donald Trump might declare Bitcoin a strategic reserve asset, has fueled bullish sentiment. Analysts suggest that such an announcement could trigger a "parabolic" rise in Bitcoin's price.With ongoing market volatility and upcoming political developments, investors and traders are closely monitoring these factors to gauge future movements and opportunities in the cryptocurrency market.