South Korea has introduced a new Virtual Asset User Protection Act, which will come into effect on July 19 and ensures customer refunds in case of crypto exchange bankruptcies. The upcoming MiCA (Markets in Crypto-Assets) regulations in Europe have led to Bitstamp delisting Euro Tether (EURT).
Since the launch of spot Bitcoin ETFs in early 2024, these financial products have attracted substantial inflows of capital, driving up the demand for Bitcoin. It is projected that by the end of 2024, U.S. spot Bitcoin ETFs will hold between 437,000 and 1.32 million Bitcoins, bringing approximately $50 billion to $100 billion into the market.
rayscale and Fidelity are experiencing significant outflows from their Bitcoin spot ETFs, reflecting a broader trend of cautious investor sentiment.
Bitwise has introduced a spot Ether ETF, allowing NFT enthusiasts to mint its commercial.
Bitcoin Price Fluctuations: Bitcoin's price dipped below the short-term holder realized price, sparking fears of a further correction. Analysts suggest that Bitcoin's price will rebound only after "weak hands" capitulate and the network's hashrate recovers.