As of now, Bitcoin price is taking a breather around $118,000, still within striking distance of its all-time high of $123,000. The market has momentarily caught its breath after a robust multi-week rally, with investors eagerly awaiting the outcome of the GENIUS Act vote expected in the House.
Alas, our digital darlings—cryptocurrency holdings—are currently as appreciated in the mortgage world as a wet sock. They remain largely overlooked in favor of the sturdy giants of financial metrics: bank balances and tax records, those ancient relics of our fiscal civilization. Should this bill gain traction, we might experience the rare spectacle of lenders and federal agencies begrudgingly acknowledging Bitcoin and its unruly band of crypto friends in mortgage eligibility assessments. Progress, they say, is never easy!
According to the wise sages at IntoTheBlock, the big boys and gals of the crypto world, known affectionately as “whales,” have been gobbling up SHIB like it’s going out of style. From a modest 245.01 billion SHIB on July 13, they’ve swelled their holdings to a whopping 973.1 billion SHIB by July 16. That’s a 728 billion SHIB increase in just three days, folks! 🚀
Ardoino took to X (because who uses Twitter anymore?) to share the news, saying that USDt is basically the digital dollar for “billions of people living in emerging markets and developing countries.” No big deal. And with over 400 million people worldwide using USDt, it’s clear that this stablecoin is kind of a big deal 🤯.
Over the past month, MSTR shares have climbed over 21%, while Bitcoin has gained 10%. Despite this growth, the stock remains around 19% below its all-time price high of $543 set in November. But hey, who’s counting? Traders like Sean Trades are still bullish, suggesting MSTR may be gearing up for another upward move. 📈
The Dow Jones, in a moment of unexpected optimism, gained a chubby 140 points, while the S&P 500 decided to remain flat as a pancake, lost in the introspective recesses of Wall Street, which was busy contemplating a deluge of earnings reports from the giants in both banking and technology. Who knew that numbers could be so captivating? 🎢
Let us reflect, for it seems evident that a mighty jump from around $2.92 to the lofty heights of $3.30 played the central role in this drama, before ultimately finding tranquility at around $3.24. Did one not consider this a rather obvious ruse? Like a cunning magician during the Asian performance, it built anticipation and then—voilà!—a breakout that sent our protagonist into realms unseen since its recent repose. 🎩✨
Traders are shifting their capital away from weaker narratives like PENGU (Pudgy Penguins) and PUMP (Pump.fun), and into tokens with stronger momentum and perceived fundamentals.
Could this mean that Bitcoin is still in the midst of a grand performance, with more acts to follow?
