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 Odaily, leading Bitcoin mining company Marathon Digital has been fined $138 million for violating confidentiality or non-circumvention agreements. Michael Ho, the former co-founder of US Bitcoin Corp and current Chief Strategy Officer of mining company Hut 8, won a unanimous jury verdict in a breach of contract lawsuit against Marathon Digital Holdings.

On Jul 23, 2024, 08:32 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,500 USDT benchmark and is now trading at 3,510.219971 USDT, with a narrowed 0.75% increase in 24 hours.

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.