El-Salvador mines $29 million worth BTC using geothermal energy ❗️

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📈 Markets

• Overall bias - Cautious 🟠 

• BTC has broken above it’s $64,500 resistance and now looking to target it’s $67,200 level.

• $67,200 remains a key resistance for Bitcoin and till we break that level, the bias remains cautious. ~$58,500 continues to be a crucial support. Everything in between is noise, and no trade zones for swing trades. Exercising patience in sideways markets is important & rewarding.

• ETF inflows are +300 mil — Demand here is finally picking up, which is good for price action.

• BTC dominance is at 56% and trying to hold that level. If this level holds, then dominance is poised for another rally, and chances of BTC breaking $67,200 increase. If $67,200 is broken, traders can look for longs at good levels on pull-backs.

• For investors, many alts are at multi-month lows, providing good opportunity for long-term investors to DCA in spot into fundamentally strong tokens.

📅 Today

El-Salvador uses volcanic energy to mine BTC🌋 

El-Salvador is on fire! Since 2021, El Salvador has mined 474 Bitcoin worth $29 million using geothermal energy from the Tecapa volcano with 300 mining processors.

Critics argue that mining BTC is harmful for the environment. However, El-Salvador has addressed these critics by mining BTC in an environment friendly manner.

They now HODL 5,750 BTC valued at $354 million, and continue to buy 1 BTC per day.

This is what we call “Leading by example!”

Vanguard Appoints Pro-Bitcoin Salim Ramji as CEO ❗️ 

Vanguard has appointed Salim Ramji, a pro-Bitcoin former BlackRock executive, as its new CEO starting July 8.

He will replace Tim Buckley, a staunch critic of Bitcoin, whose tenure as Vanguard’s CEO has been marked by strong opposition to Bitcoin ETFs.

Under his leadership, Vanguard decided not to offer Spot Bitcoin ETFs to its clients despite the SEC approving the same, aligning with its traditional focus on equities, bonds, and cash.

The change of CEO has sparked speculation that that Vanguard might reconsider its previous opposition to Bitcoin and possibly soon file for a spot Bitcoin ETF.

📊 Stats

At current prices, ~87.62% of all Bitcoin holders are in unrealized profits ❗️

Educational 📔 

Did you know ⁉️ 

Since their launch on April 20th, Runes have generated over US$130M in fees, accounting for about 33% of all fees on the Bitcoin network. This new token standard, created by Casey Rodarmor, the developer behind Ordinals, utilizes Bitcoin's UTXO model and OP_RETURN opcode to create, mint, and transfer fungible tokens.

Runes are more efficient than the older BRC20 tokens, offering a smaller on-chain footprint and better scalability. They also integrate with Bitcoin’s Lightning Network, unlike BRC-20s.

Since the launch, there have been over 3 million Runes transactions, contributing to around 50% of all Bitcoin transactions and over 2,000 BTC in fees.

• Source : Trade Dog

Chart of the day 📈 

IMX/USDT (4H)

• $2.4650 is a key area for IMX

• If price gets rejected there with RSI divergences and bearish Price Action on lower time frames, that opens gates for shorts

• If price breaks out of the same level with good volumes, that opens up doors for longs

• Keep an eye on this key level for IMX!

• Note : None of the content posted here is Financial Advise. This is for educational purposes only.

🤣 Meme of the day

Bitcoin Maxi’s be like 😂 

That concludes our update for today!

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