⛅ A timid sun will shine over Bitcoin, Polygon and Litecoin in the next 24 hours, signaling slightly bullish market conditions, while a strong sun will shine over Ether, Solana, Avalanche and Cardano, indicating bullish market conditions.

🌧️ Over a one-week time horizon, this drizzle will also sweep over Bitcoin and Ether.

The trading signals available at 08:40 CET are the basis for the projections mentioned above. Please check whether ATTMO's signals have changed since then, before making an investment decision.

Cryptocurrencies trade mostly lower, with Bitcoin oscillating around $57,000

The cryptocurrency trend was mixed over the past 24 hours but could experience selling pressure as a New York court approved the repayment of $12.7 billion to the creditors of the bankrupt crypto exchange FTX and its trading firm Alameda Research. 

Some of these creditors may choose to sell the recouped assets. FTX, which was valued by as much as $32 billion, went bankrupt in November 2022.

Additionally, the crypto intelligence firm 10x Research warned in its daily note that “instead of seizing the dip opportunity, Bitcoin Spot ETFs have experienced continuous outflows recently, with no significant inflows from stablecoins. The absence of buyers during this dip is alarming and raises concerns about the market's direction.”

“Without clear signs of Bitcoin investors buying the dip through ETFs or fiat-to-crypto stablecoin onramps, Bitcoin may settle within the $50,000 to $60,000 range, with a broader risk range of $40,000 to $60,000,” it added.

The price of Bitcoin put on 0.2 percent to $56,917 over the past 24 hours, having traded as low as $54,670, Trading View’s Bitcoin chart shows.

MicroStrategy’s CEO reveals he owns more than $1 billion worth of Bitcoin

The CEO of MicroStrategy, Michael Saylor, told Bloomberg in an interview that he personally owns more than $1 billion worth of Bitcoin.

“#Bitcoin is a capital investment you can hold for decades that a corporation, competitor, counterparty, or country can’t take away from you. It will create generational wealth for your family, corporation, or country, “ Saylor said yesterday.

Saylor is the co-founder of MicroStrategy, the publicly listed company holding most Bitcoin. It yesterday held $12.4 billion worth of Bitcoin in its treasury reserves, acquired for $8.3 billion, data from CoinGecko shows.

Metaplanet, a company following MicroStrategy’s strategy, announced yesterday that it will issue ¥10.1 billion ($70 million) worth of stock. Almost $59 million of this amount will be allocated to buy additional Bitcoin, the Japanese firm said. The company has additionally secured a ¥1 billion loan from its shareholder MMXX Ventures, it announced separately.

ETH under pressure as liquidations weigh

“The persistent liquidation pressure from various players remains a significant concern for Ethereum,” 10xResearch said in its daily note. Yesterday, the total of short and long positions involving Ether exceeded $64 million.

The price of Ether dropped 3.2 percent to $2,428 over the past 24 hours.

Ripple settles with SEC for a fraction of the initial fine sought by the regulator

Ripple Labs, the issuer of the cryptocurrency XRP, has reached a $125 million settlement with the Securities and Exchange Commission (SEC). The regulator had initially sought a $2 billion fine in March 2024, accusing the company for selling XRPs to institutional clients without registering them properly.

“We respect the Court’s decision and have clarity to continue growing our company. This is a victory for Ripple, the industry and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone,” Ripple’s CEO Brad Garlinghouse said.

“The SEC asked for more than a billion in fines, but they only need to pay $125 million. Big victory for Ripple and crypto,” said the founder and CEO of MN Trading, Michaël van de Poppe.

The price of XRP rallied 17 percent to $0.6 over the past 24 hours.

Ripple considers teaming up with Dubai to accelerate crypto innovation

Ripple Labs plans to partner with the Dubai International Financial Centre (DFIC) to boost crypto innovation.

“The partnership between Ripple and the DIFC Innovation Hub will provide the means to drive blockchain and crypto adoption amongst early-stage companies and scale-ups as well as to introduce and position the technology with traditional large strategic institutions and their use cases,” the company said in a statement.

Deputy Treasury secretary touted as potential successor in event of Democratic win

President Joe Biden’s current deputy Treasury secretary, Wally Adeyemo, is rumored to be promoted to Treasury secretary in case of a Democratic victory in November, Axios reports.

Adeyemo is renown for his anti-crypto stance, having notably called crypto assets “a clear and present risk to our national security“ in a speech held in November 2023.

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DISCLAIMER

ATTMO, a weather-inspired AI tool, makes cryptocurrency predictions. It also forecasts longer-term cryptocurrency trends. These forecasts are not trading advice; they are only decision support tools. They do not include information that is specific to the user; in particular they do not account for their personal risk appetite or market assessment. The forward-looking weather-inspired predictions part of this report may have changed by the time you read this edition of ATTMO Times. So always check the latest ATTMO predictions before making any investment decision.