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American Bitcoin Corporation (ABC), the Trump family-backed Bitcoin mining firm, is nearing completion of its backdoor merger with Gryphon Digital Mining to go public on Nasdaq. This article is from Theminermag, a trade publication for the cryptocurrency mining industry, focusing on the latest news and research on institutional bitcoin mining companies. On July 31, Gryphon
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Hedge funds are reportedly fleeing tech stocks at the fastest rate in twelve months, pivoting to a new trade idea. In a note to clients seen by Reuters , Goldman Sachs says hedge funds took profits on their tech positions just as the S&P 500 index hit all-time highs. The bank says tech stocks were sold off by hedge funds in the US and Europe more than any other sector last week, and was the largest exodus from the field since July 2024. Goldman also notes that every type of tech stock was sold, including semiconductor chip companies, software firms and IT service providers. While tech stocks sold off, the bank says hedge funds began shifting their capital to consumer staples, or goods that consumers purchase regularly regardless of the economic climate. Goldman says the big winners included companies that sell food and beverages, and personal care products. Florian Ielpo, head of macro at Lombard Odier Investment Managers, tells Reuters that yields on long bonds may determine US equities’ next move, but they haven’t yet flashed any clear signals. “US equities valuations (such as price earnings ratios) are now 30% higher than their recent decade average, while 10-year yields remain stubbornly high and volatile. The future path of equities may depend partly on a decline in long-term rates; however, we do not seem to be there yet.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Goldman Sachs Says Hedge Funds Are Ditching Tech Stocks And Jumping Into One Overlooked Sector Instead: Report appeared first on The Daily Hodl .
XRP, Pi Coin, and SHIB show potential for recovery after Bitcoin's price drop. XRP eyes the $3-$3.33 range, while SHIB may bounce from $0.00001016 support. Continue Reading: Crypto Market Bounces Back Despite Bitcoin’s Decline The post Crypto Market Bounces Back Despite Bitcoin’s Decline appeared first on COINTURK NEWS .
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After weeks of consolidation within a tight range, Bitcoin has broken down below the crucial $115K level, reaching a local low around $112,200. This correction has sparked a divide among analysts and investors, with some viewing it as a healthy retracement that could set the stage for a continuation of the broader uptrend. Others, however, warn that this move might signal the beginning of a more extended bearish phase if key support levels fail to hold. Related Reading: Ethereum New Addresses Surge To Nearly 257K In A Day, Matching 2017 And 2021 Bull Markets Adding to the market’s uncertainty, top analyst Darkfost highlighted a significant shift in exchange activity. Data reveals that Bitcoin inflows to Binance have been steadily rising since early July, reversing a prolonged downtrend that had been in place since March. Given Binance’s position as the largest global crypto exchange by volume, this uptick in inflows is a crucial indicator of shifting investor behavior. Whether this trend signals an upcoming wave of selling or simply reflects portfolio rebalancing remains to be seen. The coming days will be pivotal as Bitcoin tests its lower demand zones and market sentiment reacts to this new data. Binance Bitcoin Inflows Signal Shift in Market Mood Darkfost shared critical data showing that Bitcoin inflows to Binance have steadily increased, rising from approximately 5,300 BTC daily in early July to 7,000 BTC today. While this uptick is not abrupt, it marks a significant reversal of a prolonged downtrend that had persisted since March. This change suggests that investor behavior is shifting, potentially signaling adjustments in market strategies as traders and institutions respond to evolving market dynamics. Binance, as the largest cryptocurrency exchange globally by trading volume, serves as a critical barometer for overall market sentiment. With over 250 million users and billions of dollars in daily transactions, fluctuations in Bitcoin inflows on this platform often mirror broader structural moves within the crypto market. Historically, rising inflows have been associated with increased trading activity, whether due to profit-taking, portfolio rebalancing, or anticipation of market volatility. Some analysts interpret this emerging trend of accelerating inflows as an early sign of preparation for heightened market volatility or impending macroeconomic shifts. It could indicate that traders are positioning funds on exchanges to either capitalize on price swings or hedge against potential downside risks. While the magnitude of inflows isn’t alarmingly high yet, the consistency of this rise demands attention. The market is watching closely to see whether this signals a temporary adjustment or the start of a broader trend. With Bitcoin’s price currently testing lower support zones after breaking below $115K, the behavior of these inflows will be pivotal in determining short-term price action. Related Reading: Exchanges Receive 21,400 Bitcoin At A Loss From Short-Term Holders – Retail Capitulation? Key Support At Risk Amid Increased Selling Pressure Bitcoin is trading at $112,477 after breaking down from its two-week consolidation range. The price lost the crucial $115,724 support, which now flips into immediate resistance. This breakdown marks a significant shift in momentum, with BTC testing the 100-day simple moving average (SMA) at $114,944, which failed to hold. The next key support zone lies near the 200-day SMA at $110,348, a level that could become pivotal for bulls attempting to regain control. Volume has surged during this decline, indicating strong selling pressure as BTC approaches the $112,000 level. If the price fails to hold above this zone, a further drop towards the psychological $110K level seems likely, with potential for a deeper correction targeting previous accumulation ranges from early July. Related Reading: Ethereum Taker Sell Volume Hits $335M In Just 2 Minutes: Panic Or Profit-Taking? Despite the bearish short-term outlook, bulls still have a chance to reclaim momentum if they can swiftly push BTC back above $115,724 and establish a consolidation above the 50-day SMA at $117,631. Until then, market sentiment remains cautious as investors watch for signs of demand absorption or further liquidation-driven declines. Featured image from Dall-E, chart from TradingView
Funding Rates rebound, but are BTC and ETH bulls ready to reclaim wiped-out zones?
Japan-based publicly traded company Metaplanet announced plans to issue Class A and Class B preferred shares as part of its Bitcoin (BTC) reserve strategy. The company aims to use the funds raised through the capital increase, totaling up to 555 billion yen (approximately $3.8 billion), to purchase Bitcoin. According to the announcement, Class A shares will be “senior and non-convertible,” while Class B shares will be “convertible,” and both classes will fall under the perpetual preferred share category. Metaplanet has also filed a registration application with the Japan Financial Services Agency (FSA) to facilitate the issuance of these shares. Related News: Billionaire Investor Mike Novogratz Reveals New Price Prediction for Ethereum Following Recent Declines The amendments to the company's articles of association are scheduled to take effect on September 1, 2025. The details of the share issuance will be determined depending on market conditions. Prior to this latest acquisition, the company held 0.081% of the total BTC supply. The company currently holds $1.93 billion worth of Bitcoin. With this plan, the company could potentially double its holdings. *This is not investment advice. Continue Reading: Japanese Tech Giant Announces Plan to Purchase Large Amount of Bitcoin