Bitcoin fell to $115,002 on Thursday, slipping over 6% from its July 14 record peak as open interest surged to a new all-time high of $44.5 billion. As Bitcoin’s (BTC) price retreats, traders continue to open new positions at record…

Bitcoin’s open interest reaches $44B all-time high as BTC falls below $116K

BlackRock&#8217;s ETHA leads with $440 million as Ether ETFs stretch their inflow 
streak to 16 days, pushing total net assets to $20.66 billion.

Spot Ether ETFs log $453M in inflows, extend streak to 16 days

A transaction sent from a wallet address linked to Hayden Davis, one of the 
entrepreneurs connected to the launch of Libra, made at the same time he was 
in a meeting with President Milei, might help an ongoing probe advance with 
new data. Libra Case Watch: Mysterious Transaction Involving Centralized 
Exchange Might Advance Probe A […]

Libra Case: Mysterious Transaction Might Help Advance Ongoing Probe

Ether&#8217;s surge in social dominance signals a potential risk of a price 
correction, according to Santiment.

Ether’s ‘extreme euphoria’ social chatter could be a red flag for price

Ethereum has been gaining ground in recent times, especially among 
institutional investors, as they believe that the leading altcoin is set to 
outperform Bitcoin. This is evidenced by the large buys that have dominated 
ETH as Ethereum treasury companies become a major player in the space. Amid 
this, billionaire and CEO of Galaxy Digital Investments, Mike Novogratz, has 
revealed the important level for Ethereum to beat to enter price discovery. 
Ethereum Price Needs To Cross $4,000 În an interview with SquawkBox, Novogratz 
points to the recent strength of Ethereum amid rapid accumulation as a reason 
for it being a better bet than Bitcoin. The major reason outlined for why ETH 
was a better bet than BTC at this point is the fact that Ethereum treasury 
companies are now becoming a staple, with two ETH treasury companies, such as 
SharpLink and GameSquare Holdings, among others, already established and more 
on the way. Related Reading: XRP Price Showing Quiet Strength As Next Breakout 
Level Lies At $4.65 As these companies continue to accumulate ETH, the 
billionaire explains that with not much supply, the Ethereum price is likely 
to rise. He also brings up the fact that Ethereum has a very powerful 
narrative, and the market reaching record short levels has also aided its 
bullishness. Given these, Novogratz explained that the Ethereum price is at 
least destined to knock on the $4,000 level a few times. Also, once the 
altcoin is able to take out $4,000, then the billionaire believes that the ETH 
price will enter into price discovery, which could drive it higher. As 
Ethereum continues to look like the better bet, he also believes that the 
altcoin could end up outperforming the Bitcoin price over the next 3-6 months. 
This gives a short timeframe, especially as Bitcoin has already hit multiple 
new all-time highs over the past year, and Ethereum is yet to beat its highs 
from 2021. ETH Is Already Outperforming Bitcoin So far, in the month of July, 
the Ethereum price has greatly outperformed that of Bitcoin in terms of gains, 
lending credence to Novogratz’s expectations that the altcoin will outperform 
the pioneer cryptocurrency. According to data from CryptoRank, ETH is up more 
than 45% this month already compared to the less than 8% on record for 
Bitcoin. Related Reading: This Ethereum Descending Broadening Wedge Pattern 
Looks Similar To 2019-2020, Here’s What Happened Last Time Over the last 90 
days, as well, the Ethereum price has doubled to put in more than 100% in 
gains. Meanwhile, Bitcoin’s gains still sit just above 22% for the same time 
period. Nevertheless, Bitcoin continues to dominate the market, with BTC 
dominance sitting above 61% and holding altcoin season at bay. Featured image 
from Dall.E, chart from TradingView.com

Billionaire Mike Novogratz Says Ethereum Will Enter Price Discovery If It Takes Out This Level

Bit Digital&#8217;s share cap expansion could significantly enhance its Ethereum 
strategy, potentially influencing the broader crypto market dynamics.
The post Bit Digital plans to expand share cap to 1B to advance Ethereum 
strategy appeared first on Crypto Briefing.