Bitcoin: The number of addresses with more than 1 Bitcoin hits a record high

Members of the U.S. House of Representatives plan to release a stablecoin bill next Wednesday. They seem to have reached an agreement with Republicans on core principles. People familiar with the matter said that the new bill requires issuers of stablecoin projects to maintain capital and liquidity and accept supervision. Overall, the stablecoin regulatory plan will be relatively easy to formulate. It only needs to ensure that it is anchored to legal currency, and the anchoring method is 1:1 and can be redeemed at any time. If there is no liquidity crisis, there will be a large number of brick movers to maintain the price at 1:1. Therefore, Europe and the United States took the lead in choosing to regulate stablecoins, which is also the first step in the regulation of cryptocurrencies. Previously, the European Union also exchanged views with the U.S. government on crypto regulatory policies such as stablecoins. It is highly likely that the pace is consistent. Stablecoins are a digital form that is beneficial to legal currency and deserve to be accepted by all countries.

The most important news overnight was that Tesla's semi-annual report showed that it had sold 75% of its Bitcoin, cashing out $936 million, with a unit price of around $29,000. The profit and loss statement showed that Tesla lost $106 million in this wave of speculation, which was not much, accounting for less than 10% of its total position. Tesla's overall cost should be around $31,000, so the 29,000 stop loss did only lose less than 7%. His reduction in holdings caused Bitcoin to quickly weaken compared to US stocks and go out of an independent decline. The madman believes that Tesla's reduction in holdings is a huge blow to investor confidence. Tesla's stop-loss reduction is likely because it is no longer optimistic about Bitcoin in the short term, or that it believes that Bitcoin has no logic for holding positions. Bitcoin has not proven its anti-inflation characteristics. The status of digital gold has been falsified by the market, and it cannot be used as a hedging asset to compete with the market. This is a relatively medium- and long-term negative, unless the market can re-prove Bitcoin's anti-inflation characteristics. Finally, Musk said that he is open to increasing his holdings of Bitcoin in the future, and at the same time said that Tesla did not sell Dogecoin. Even so, Dogecoin remained indifferent.

The Bitcoin Mining Committee's survey results show that the green power mix of Bitcoin mining has reached 66.8% in the second quarter of this year, which disproves many people who believe that the Pow mechanism pollutes the environment. In the future, the proportion of green energy mining will continue to increase, making Bitcoin the most environmentally friendly and efficient currency payment system. Tesla also said earlier that if the green mining energy of Bitcoin exceeds 50%, it will consider re-supporting the option of Bitcoin payment. There is no updated information yet.

BlackRock lost $1.7 trillion in the first half of the year. This asset management giant loses money without blinking an eye, which is terrifying. This also shows that the economic recession has damaged all walks of life. The world's most professional asset management giant has lost so much, not to mention each of our wallets. As long as we keep our losses within an acceptable range, it will be the best result at the moment. Blackstone's strategists predict that the Fed's interest rate hike cycle will last longer, because various indicators show that inflation is still heating up. Goldman Sachs CEO also said that the Fed's tightening cycle makes it very uncertain when the economy will resume growth. He said that the recession may last longer, and everyone should maintain a cautious investment attitude. This is also the mainstream global macro analysis, so you can just use it as a reference.

Indian officials said that there will be no tax cuts on cryptocurrency transactions. It seems that India has no intention of liberalizing the crypto industry. This tax has caused the Indian crypto market to lose liquidity, and after seeing this trend, the government has no intention of saving the industry. There is not much to expect from the Indian crypto market in the short term.

Finnish customs confiscated 1,889 bitcoins in a drug bust, and dumped them after they were obtained. It was great to get them for free, and they could sell them however they wanted. This indirectly reflects that the black industry attribute of Bitcoin still exists, which is also an important way to reflect its value.

The third largest Bitcoin whale wallet has been emptied, with more than 130,000 Bitcoins now reduced to 0. CryptoQuant CEO said that the wallet address is suspected to be a Gemini cold wallet or custodial wallet. If it is really an exchange wallet, then the third largest whale wallet has no reference value. There is currently no further evidence to show who it belongs to.

Yesterday, the entire network had a liquidation of 327 million US dollars, of which Bitcoin accounted for 53.8%. A wave of rise blew up the shorts, and then began to pull back. It seemed to be another precise sniper attack.

The founder of AVAX implied that Polygon's core technology relies on acquisitions. The competition has begun, and various competitors are either starting to merge or tear each other apart. This is a typical state during a market downturn.

Media reports say that the Dutch are preparing to use Bitcoin to fight against the over-expansion of the local government, and the Dutch are increasingly interested in Bitcoin. If Bitcoin can play this role, then the expectations for the second half of the year will be separated from the macro-operation, but the current expectations are still too small.

Panic 34, eased somewhat.

Coin News:

Bitcoin: The number of Bitcoin addresses with more than 1 Bitcoin hit a record high. Tesla is gone, and thousands of retail investors have come in. Consensus is constantly forming. In the short term, the US stock market has rebounded sharply for two consecutive days. There is a high probability of shock or correction tonight. Therefore, it is still difficult for Bitcoin to break through the previous high again. It is expected that the overall trend will be shock and correction. The more comfortable participation position is around 21,000.

Ethereum: After accelerating its rise, it has been sideways for three consecutive times, and it seems a bit powerless. Before and after tomorrow's option delivery, a large number of long positions will be closed, so the probability of downward adjustment will be relatively high.

SOL: The number of active users in June exceeded 32 million, which is still an amazing monthly active number. There are also a large number of duplicate addresses that cannot be checked. The actual data should not be that high, but there is still a chance to continue to compete with Ethereum in the future and compete in the public chain track. In the short term, it is linkage.

After a sharp rebound, it is very difficult to continue to rise, so don’t have too high expectations and wait for the opportunity to get on board after the pullback.