The post BitMine Expands $10B Ethereum Treasury With $73M ETH Purchase appeared on BitcoinEthereumNews.com.
Key highlights: BitMine acquired 42,197 ETH, worth about $73 million, last week The purchase comes amid the recent Ethereum price surge While BitMine continues to purchase ETH, Strategy has sold $216 million in BTC BitMine Immersion Technologies, the largest Ethereum treasury company holding more than $10 billion in Ether tokens, has further expanded its holdings. Last week, the firm reportedly purchased a staggering 42,197 ETH, worth about $73 million. With this weekly purchase, the company is moving closer to its goal of acquiring 5% of ETH’s total supply. It is worth mentioning that the latest ETH purchase has occurred amid increasing market optimism. While the Ethereum price has been caught within a negative phase during the past few weeks, the token has now surged into a positive zone. BitMine’s Ethereum purchase has further strengthened this bullish market sentiment. BitMi
The post Ethereum Tests $1,796 Breakout While Bitmine Expands ETH Holdings appeared on BitcoinEthereumNews.com.
Analyst Ali Martinez says a daily close above $1,796 could trigger an ETH rally toward $2,245. Ethereum reclaiming the 0.8 MVRV band has historically preceded stronger price recoveries. Bitmine purchased another 42,197 ETH, raising its holdings to 5.74 million ETH. Ethereum is testing one of its most important technical levels of the current cycle, with analyst Ali Martinez pointing to $1,796 as the price that could decide its next major move. According to Martinez, ETH is challenging the 0.8 MVRV Pricing Band at $1,796, which has acted as resistance. A daily close above this level, followed by a successful retest as support, would strengthen the bullish case and shift focus toward Ethereum’s Realized Price of $2,245. The MVRV Pricing Bands chart shows Ethereum trading just below this resistance. Historically, reclaiming the 0.8 MVRV band has often preceded larger recoveries
Central banks' shift from the US dollar signals a move towards a multipolar monetary system, with increased reliance on gold and the euro.
The post OMFIF survey shows central banks planning to cut US Dollar exposure for first time ever appeared first on Crypto Briefing.
The post Gold: Price dip seen limited as PBoC buying continues – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Carsten Fritsch notes Gold fell to USD 4,120 per ounce after fresh Iranian attacks lifted TTF gas and Oil prices, but Fed rate expectations remain unchanged. He argues downside is limited, as the People’s Bank of China has bought Gold for 20 straight months, recently accelerating purchases and adding 33 tons over the last three months on the lower price environment. Chinese demand cushions recent weakness “The price of gold fell to USD 4,120 per troy ounce this morning following Iranian attacks on two cargo ships and an LNG tanker in the Strait of Hormuz. As a result, the TTF natural gas price rose significantly, and oil prices also edged up slightly, fueling inflation concerns.” “However, there was no change in Fed rate hike expectations. The market continues to anticipate interest rate hikes by the Fed of around 30 basis points by the end of the year. As a r
The post A Dangerous Threat Faces Bitcoin, XRP, ETH and SOL, Alphractal CEO Warns appeared on BitcoinEthereumNews.com.
Joao Wedson, founder and CEO of Alphractal, issued a sharp warning on July 7. His diagnosis is direct: unliquidated long positions now dominate Bitcoin, Ethereum (ETH), XRP, and Solana (SOL). Here is what the threat means, how it could hit prices, and what other analysts project next. What Threat the Alphractal CEO Is Flagging An unliquidated long is a leveraged bet that a price will rise, one that has not yet closed or been forced to sell. Wedson warns that these positions now dominate the market for the largest cryptocurrencies after a recent weak advance. The analyst’s message is blunt. Any slip in the coming hours could hand control to the bears. As a result, a fresh wave of fear and liquidations could sweep across the entire crypto market. The situation is especially delicate for ETH, SOL, and XRP. Those assets saw a massive buildup of longs over the past 30 days.
The post Bitcoin Holds Near $63K as Coffee Outshines Crypto and Gold appeared on BitcoinEthereumNews.com.
Bitcoin News Bitcoin (BTC) traded quietly this week even as the single best trade across global markets came from an unlikely place: the coffee aisle. While Bitcoin and gold absorbed most of the attention, arabica coffee delivered a move neither could match, jumping in one session by a margin that dwarfed the crypto majors. For traders tracking Bitcoin as a macro barometer, the contrast is instructive: the flagship digital asset posted a steady but modest advance, while a soft commodity staged one of the largest daily rallies of the century, underscoring how rotation into hard assets is reshaping this cycle. The commodity that stole the spotlight was arabica coffee, which surged 16.19% on Monday for its biggest single-day gain this century and closed at a 5.5-month high. Robusta contracts climbed 8.83% in the same session to a five-month peak. The advance lifted coffee futures roug
The post Canada International Merchandise Trade registered at $4.24B above expectations ($2.7B) in May appeared on BitcoinEthereumNews.com.
Gold stages a rebound after dropping toward $4,100 earlier Tuesday and trades above $4,150 in the American session. Crude oil prices edge higher amid renewed tensions in the Strait of Hormuz, reviving inflationary concerns. This, in turn, triggers a fresh leg up in US Treasury bond yields, offering some support to the US Dollar, and making it difficult for the yellow metal to gain traction. Source: https://www.fxstreet.com/news/canada-international-merchandise-trade-registered-at-424b-above-expectations-27b-in-may-202607071230
This shift may alter global financial stability, influence currency valuations, and reshape international economic power dynamics.
The post Central banks to cut US dollar holdings, boost gold and euro reserves: Reuters appeared first on Crypto Briefing.
