The US financial regulator is reportedly considering simplifying the listing process for certain crypto ETFs.

US considers simplified path to market for crypto ETFs

Bit Digital has announced a $162.9 million raise to purchase ETH for its 
corporate treasury, adding to Ethereum’s rising demand from institutions. The 
announcement was made on July 1, after underwriters in Bit Digital’s recent 
public offering fully exercised their…

Ethereum sees growing institutional interest as Bit Digital raises $162.9M to buy more ETH

Real estate tycoon Grant Cardone’s private equity firm Cardone Capital 
announced a 1,000 BTC acquisition on Friday, June 27. The bitcoin ( BTC) is 
worth more than $100 million at current prices and is part of Cardone’s foray 
into implementing a bitcoin treasury strategy after a curious meeting he had 
with Michael Saylor, Chairman of […]

Cardone Capital Adds 1,000 BTC to Balance Sheet

Ethena’s native token ENA is trading at $0.2546 at press time, down 4% in the 
last 24 hours and extending its 17% decline over the past month as another 
token unlock looms. The recent pullback has placed ENA within a…

Ethena stalls below key level as 40M ENA token unlock approaches

Bitcoin (BTC) attempted to reclaim the $108,000 resistance level again but 
faced rejection as the third quarter (Q3) started, leading some market 
watchers to suggest caution for the upcoming months. Related Reading: Solana 
Summer Loading? SOL Eyes $180 Following Staked ETF-Fueled Breakout Bitcoin 
Holds Crucial Range Bitcoin&#8217;s price ended the second quarter with a retest of 
the $108,000 barrier before being rejected and closing Q2 and June around the 
$107,140 area, its highest monthly close in history. Despite the positive 
performance, the flagship crypto started July with a pullback toward the 
$105,000, hitting a one-week low of $105,623. Analyst Rekt Capital affirmed 
that this suggested BTC’s post-breakout retest is in progress, which would 
strengthen the cryptocurrency’s case for another leg up. The analyst 
previously explained that Bitcoin needed a weekly close above the $104,400 
support after losing it, as reclaiming this area would solidify its price 
recovery and position the cryptocurrency for a retest and confirmation of this 
level. Additionally, it would continue building its base around this area to 
transition into BTC’s second Discovery Uptrend. According to the Tuesday 
analysis, the new weekly close suggests Bitcoin is positioned for another 
post-breakout retest. The analyst also noted that, in the past 40 days, BTC 
broke out of two 2-week downtrends but was rejected from the crucial 6-week 
downtrend, around the $108,000 mark, during the same timeframe. Sjuul from 
AltCryptoGems noted the rejection from this level, affirming that “it is 
mandatory for bulls to step in quickly and not allow the price to have too big 
of a dip.” The flagship crypto needs a “strong bounce from the most important 
support and resistance level, just at $106-104K,” which it has momentarily 
held. To the analyst, failing to hold this area would open the door for a 
bigger pullback, risking a drop to the Macro support between $101,000 and 
$102,000. He highlighted a big gap between the current support area and the 
Macro support, which formed on the recent price recovery. BTC Risks Massive 
Drop In Q3 Sjuul pointed out that below the $101,000 support, “there is not 
much to defend the price from falling much lower,” adding that the “historical 
quarterly return of BTC for Q3 has not been great, so this adds some extra 
caution to the picture we have taken from the chart.” Similarly, Daan Crypto 
Trades asserted that historical data shows that Q3 is generally the slowest 
period for Bitcoin and Ethereum (ETH) due to the decreasing activity, volume, 
and liquidity during the summer months. He added that, as a new quarter and 
month begin, BTC will likely see a “choppy start,” but Bitcoin is still 
consolidating within its current range and descending channel, suggesting that 
investors should give it time to “play out and watch for confirmations” of the 
direction it will take for the rest of the month. Related Reading: BitMine 
Stock Soars 700% After $250 Million Raise For Ethereum Treasury Nonetheless, 
analyst Ali Martinez gave a warning signal, as an indicator that had predicted 
“every major Bitcoin crash” has just appeared. Per Martinez, the Tom Demark 
Sequential indicator, a rare warning that has historically preceded violent 
pullbacks, flashed a sell signal in the quarterly timeframe. Notably, the same 
signal appeared in 2015 and 2018, with BTC retracing over 75% and 85% after 
the indicator flashed. If it follows its historical performance, the analyst 
forecasted that BTC could drop to the $40,000 mark this quarter. As of this 
writing, Bitcoin is trading at $105,901, a 1.16% decline in the daily 
timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Bitcoin Holds Key Level Amid $108,000 Rejection, But Analysts Suggest Caution This Quarter

The U.S. Securities and Exchange Commission has approved Grayscale’s request 
to convert its Digital Large Cap Fund into a spot exchange-traded fund. 
According to a July 1 SEC filing, approval allows the fund to list and trade 
on NYSE Arca,…