CryptoMediaClub
Wednesday, July 9, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Institutional Interest in Bitcoin Wanes as Market Caution Grows; Minting Ratio Drops to $1.4B

16.08.2024
A A
0
119
VIEWS
ShareShare

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, initially surged to $59,800 but struggled to maintain that level, eventually falling below $56,630.

The global cryptocurrency market cap is $2.06 trillion, reflecting a 24-hour decline of 0.93 percent. Bitcoin’s recent pullback to the $58,000 range followed the release of US Consumer Price Index (CPI) data, which revealed a price rebound in July as expected.

This development has dampened expectations for a significant rate cut by the Federal Reserve in the upcoming month.

JUST IN: #Bitcoin just fell below $57K. pic.twitter.com/R4VJAizzq1

— CoinGecko (@coingecko) August 15, 2024

Additionally, ongoing geopolitical tensions between Iran and Israel have added further pressure to the market. The crypto derivatives sector also experienced substantial liquidations over the past day, contributing to the overall market volatility.

Institutional Interest in Bitcoin Declines Amid Market Caution and Ongoing Bull Run Predictions

It is worth noting that institutional interest in Bitcoin may be waning at its current price, according to a crypto analyst.

The 7-day minting ratio, which tracks the creation of new stablecoins and their conversion into crypto, has dropped significantly from $2.7 billion earlier in August to $1.4 billion now.

This decline suggests that institutions, which had been actively investing when Bitcoin fell below $55,000, are now less interested. Currently, Bitcoin is trading around $58,149, showing a slight drop in the past 24 hours.

Additionally, the Crypto Fear & Greed Index has fallen to a “Fear” level of 27, indicating market caution.

Institutions not so interested in Bitcoin at $58K, metric shows https://t.co/1SGZbK5fr9 pic.twitter.com/2BeFKT7tzQ

— Crypto Trader Pro 🇺🇸 (@CryptoTraderPro) August 16, 2024

Despite this, some forecasts suggest Bitcoin’s bull run could continue into 2025, based on past cycles.

Thus, the decline in institutional interest and the Crypto Fear & Greed Index’s drop to the “Fear” level suggest caution, putting downward pressure on Bitcoin’s price.

However, some forecasts still predict a continued bull run into 2025.

US Economic Outlook and Fed Rate Cut Expectations

On the US front, the US dollar has struggled to gain strength because markets are expecting a 25 basis point rate cut at the Federal Reserve’s September meeting.

This expectation has led to a slight drop in US Treasury bond yields, limiting the dollar’s recent gains despite strong economic data, such as better-than-expected July retail sales and a resilient labor market.

Federal Reserve officials have hinted that a rate cut might be necessary due to easing inflation and shifting economic conditions.

🔥 The Fed’s hit a jackpot! 🔥
📉 CPI: 2.9% vs 3%
🛒 Retail Sales: +1% (vs. 0.4% expected)
📈 Core Retail Sales: +0.4% (vs. 0.1% expected)
💼 Jobless Claims: Falling to 227k
50 bps rate cut loading..Is this the start of an economic golden age? 🌟 @federalreserve #Economy… pic.twitter.com/wd6wo3KQ83

— Chartist Nihal – NISM Certified (@Chartist_nihal) August 15, 2024

On the data front, the US Census Bureau reported a 1% increase in retail sales for July, surpassing expectations of a 0.3% rise. Excluding autos, sales were up 0.4%, exceeding the anticipated 0.1% gain.

Additionally, the US Department of Labor (DOL) disclosed that initial jobless claims for the week ending August 10 totaled 227,000, better than the expected 235,000 and the previous week’s 234,000.

These stronger-than-expected figures underscore the resilience of the US economy and reinforce the view that the labor market remains robust.

Therefore, the anticipated Fed rate cut and weaker dollar could boost Bitcoin’s appeal as an alternative investment.

Strong US economic data might support market confidence, but the expectation of lower interest rates could enhance Bitcoin’s attractiveness compared to traditional assets.

Daily Technical Outlook: Bitcoin (BTC/USD)

Bitcoin ($BTC) is currently trading at $58,770, showing a slight increase of 0.07% on the 4-hour chart. Technically, Bitcoin is in a precarious position after violating the triple bottom pattern around the $57,750 level.

This pattern previously offered strong support, but its breach, coupled with the formation of a bearish engulfing candlestick, suggests that the downtrend may continue.

📉 Daily Technical Outlook: #Bitcoin ($BTC) is at $58,770, up 0.07%. Key support at $57,750 has been breached, signaling a potential downtrend continuation.
Immediate resistance is at $59,810 with support at $55,200. Watch the $57,750 level closely. #Crypto #BTCUSD pic.twitter.com/YYb9i1S6JE

— Arslan Ali (@forex_arslan) August 16, 2024

Immediate resistance is now at $59,810, followed by $61,870 and $64,640. On the downside, Bitcoin has immediate support at $55,200, with further support levels at $52,690 and $50,700.

Bitcoin Price Chart – Source: Tradingview

The 50-day Exponential Moving Average (EMA) at $59,650 is also exerting downward pressure, acting as a resistance point.

The Relative Strength Index (RSI) stands at 44, indicating that there’s still room for further selling before Bitcoin enters oversold territory.

In conclusion, the outlook remains bearish below $57,750. However, if Bitcoin manages to break above this level, we could see a shift towards a more bullish trend. Keep an eye on the $57,750 level.

You might also like Bitcoin Price Prediction 2024 – 2034

Mega Dice Presale Nears Final Countdown: $1.71 Million Raised, Price Increase Imminent

The Mega Dice presale is rapidly approaching its final stage, having successfully raised over $1.71 million in funding. So far, 19 million of the allocated 28 million $DICE tokens have been sold, reflecting the growing enthusiasm for this crypto-integrated iGaming platform within the evolving Web3 ecosystem.

This presale’s momentum highlights the increasing interest in the GambleFi sector, where Mega Dice is carving out a significant niche. The platform recently celebrated a milestone by surpassing 14,500 members in its Telegram SuperCommunity.

This thriving community is a hub for daily discussions about $DICE, its various utilities, and strategic partnerships, and offers essential technical support.

Mega Dice: Revolutionizing the iGaming Experience

Mega Dice stands out in the GambleFi industry by utilizing its $DICE token to enrich the online gaming experience. Players can use $DICE for gameplay, gain access to exclusive competitions, and participate in a loyalty program that offers generous rewards and VIP perks.

#DICE presale has raised $1.7 MILLION! 🚀🚀
This milestone brings us closer to revolutionizing GameFi. Remember 👇
Current tier price: $0.105266
Buy $DICE now: https://t.co/Pk6R16oOKk
Don't miss out on this opportunity to be a part of the #1 GameFi project on SOLANA! 🚀 pic.twitter.com/NrMJN1mrX0

— Mega Dice Casino (@megadice) August 13, 2024

Moreover, Mega Dice’s strategic buyback and burn mechanism is designed to ensure token scarcity, potentially boosting its market value over time. With the presale nearing its final hours and a price increase imminent, this is a crucial time for potential investors to get involved.

Stay up to date with Mega Dice’s latest developments by following their platforms on X/Twitter and Telegram. Don’t miss your chance to participate in the presale before the price increases to $0.105266 per $DICE token.

Buy Mega Dice Today

The post Institutional Interest in Bitcoin Wanes as Market Caution Grows; Minting Ratio Drops to $1.4B appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy
All news

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

09.07.2025
0

The crypto market is showing mixed signals today, with the total crypto market cap falling 2.4%. Bitcoin is up nearly...

Read moreDetails
Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

09.07.2025
Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

09.07.2025
Dogecoin Price Prediction: Millionaire Scottie Pippen Eyes DOGE in His Top Picks – Is This the Catalyst Meme Traders Needed?

Dogecoin Price Prediction: Millionaire Scottie Pippen Eyes DOGE in His Top Picks – Is This the Catalyst Meme Traders Needed?

09.07.2025
Tether Invests in Blockchain Analytics Firm Crystal Intelligence to Tackle Stablecoin Misuse

Tether Invests in Blockchain Analytics Firm Crystal Intelligence to Tackle Stablecoin Misuse

08.07.2025
Load More
Next Post
CoinsPaid Helps Automate Financial Alignment Processes

CoinsPaid Helps Automate Financial Alignment Processes

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Coinbase Pushes SEC for Permission to Trade Blockchain-Based Stocks: Reuters

Coinbase Pushes SEC for Permission to Trade Blockchain-Based Stocks: Reuters

3 weeks ago
Bridging the Gap: Making Crypto Accessible to Everyone

Bridging the Gap: Making Crypto Accessible to Everyone

2 years ago
TON Blockchain Daily Transaction Volume Hits $10b, Gaining Public Attention

TON Blockchain Daily Transaction Volume Hits $10b, Gaining Public Attention

1 year ago
Global ETF Provider WisdomTree Files for XRP ETF in Delaware

Global ETF Provider WisdomTree Files for XRP ETF in Delaware

7 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

Stablecoin issuers’ $182 billion US Treasury hoard ranks 17th among countries, beating UAE and South Korea

Dogecoin Price Prediction: Millionaire Scottie Pippen Eyes DOGE in His Top Picks – Is This the Catalyst Meme Traders Needed?

Tether Invests in Blockchain Analytics Firm Crystal Intelligence to Tackle Stablecoin Misuse

NFT Trading Falls Fifth Consecutive Quarter Down 80% to $823M, DappRadar Reports

AI Company CoreWeave Will Buy Bitcoin Mining Giant Core Scientific for $9 Billion

Trending

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy
All news

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

09.07.2025
0

The crypto market is showing mixed signals today, with the total crypto market cap falling 2.4%. Bitcoin...

Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

09.07.2025
Survey finds gaps in mainstream Bitcoin coverage, leaving institutional investors exposed

Survey finds gaps in mainstream Bitcoin coverage, leaving institutional investors exposed

09.07.2025
Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

09.07.2025
Stablecoin issuers’ $182 billion US Treasury hoard ranks 17th among countries, beating UAE and South Korea

Stablecoin issuers’ $182 billion US Treasury hoard ranks 17th among countries, beating UAE and South Korea

09.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz