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Bullish traders are hoping for data that may indicate that the market is nearing the bottom, as Bitcoin (BTC) prices have fallen about 50% from their all-time highs. Cryptocurrency (Cryptocurrency) Many crypto assets are moving from exchanges. It’s too early to determine if the move will continue, but data may indicate that some traders are happy with the current price and are not willing to liquidate Bitcoin on the exchange. .. In cryptocurrency market logic, traders may be moving Bitcoin to wallets, custody services and cold storage while waiting for price

https://ourbitcoinnews.com/bitcoin-moves-from-exchange-to-high-level-for-the-first-time-in-7-months-%E2%94%80%E2%94%80-bullish-signal/

It turns out that a major British asset manager, Ruffer, has sold its crypto asset (cryptocurrency) Bitcoin (BTC) and made a profit of over $ 1.1 billion. Local media The Times reported. According to Ruffer’s investment manager, the company invested $ 600 million in Bitcoin in November 2020 as part of its portfolio. After that, in December 2008 and early January 2009, he sold some of the Bitcoins he bought and made a profit of $ 750 million, but he said he held the remaining positions until April this year. ..

Bitcoin’s investment products were withdrawn last week by a record amount of money as physical price declines worsened market sentiment. According to digital asset manager CoinShares, investors withdrew $ 141 million from Bitcoin funds in the seven days to June 4, the highest weekly amount. Most crypto funds have seen a net decline as Bitcoin prices fell by nearly 30% in May. According to CoinShares, some investors are diversifying their funds among the funds as investors’ willingness to buy Bitcoin funds declines. Investors have shown interest in altcoin investment products such as Ethereum (ETH), Ripple (XRP) and Cardano (ADA), with $ 33 million inflows into the Ethereum fund in particular.

Chinese minor hash rate plummeted
It was found that the hash rate of the major mining pools fluctuated rapidly at a 24-hour volatility. Major pools such as AntPool, F2Pool, Polin and BTC.com have seen declines of more than 10% to 20%. In the background, it seems that the Xinjiang and Qinghai governments have started to implement the policy of completely abolishing virtual currency mining of the State Council at the end of May. New progress was confirmed on the 9th. On the 9th, the Xinjiang government announced an order to suspend the operations of all cryptocurrency mining farms in the “Zhundong National Economic and Technological Development Zone”.

According to digital asset management company CoinShares, $ 141 million was leaked from Bitcoin, a crypto asset (virtual currency), in the week leading up to June 4, and the outflow amount reached a record high. However, since the beginning of the year, the inflow is still a deduction of $ 4.2 billion. Meanwhile, Ether continues to inflow $ 33 million a week. The year-to-date inflow is $ 1 billion. Ripple (XRP) was the largest inflow of $ 7 million since April. For the entire cryptocurrency, $ 94.2 million was leaked in a week.

https://finance.yahoo.com/finance/news/bitcoin-weekly-outflows-hit-record-195022231.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAK5rZqg8S5be68zj3nINMPsnHaX8vfMu-5XXONQoc99T8VKXt2Y0MjYkRemiKgTu6lBM-XuNK4XLX7uCemZ1g_0mNRWvMNwc1SrRIhxiOY2szCp_Yb8fgaEDYcSO7IsgaDP6KhQryA3nulfix0rd7–GFmK9Qp-6402gxFiJaMgo

Following the Bitcoin crash last month, MicroStrategy, the largest publicly traded company in Bitcoin holdings, is expected to lose at least $ 284.5 million in the second quarter. However, the company, headed by Billionaire CEO Michael Sailor, intends to maintain its bullish position and further increase its investment in volatile Bitcoin with new funding. Virginia-based MicroStrategy said in its June 7 filing that “bitcoin market price volatility” is expected to result in an impairment loss of $ 284.5 million in the quarter ending June 30. Clarified. In a press release on the morning of the 7th, the company announced that it would raise $ 400 million from institutional investors by issuing corporate bonds with a maturity of 2028. MicroStrategy says it will use the money to buy more Bitcoin

Cryptocurrency (virtual currency) Bitcoin fell to the lowest price in two weeks in the transaction on the 8th. Some have pointed out that the fact that the authorities have regained most of the Bitcoin that Colonial Pipeline, which operates the U.S. pipeline, paid hackers as ransom, has shaken the sense of security that it will not be controlled by the government. ..

https://www.straitstimes.com/business/companies-markets/bitcoins-fizzling-2021-returns-start-to-lag-mainstream-assets

Colonial Pipeline, the largest oil pipeline in the U.S., was attacked by ransomware and closed the pipeline, but the company was later found to have paid hackers. .. Officials familiar with the situation revealed. He said he got a decryption tool to unlock his computer system after payment

https://edition.cnn.com/2021/06/07/politics/colonial-pipeline-ransomware-recovered/index.html

21Shares of Switzerland, which has been developing investment products centered on crypto asset investment trusts, will list Bitcoin investment trusts on the UK exchange. 21Shares will begin trading its Bitcoin ETP on the MTF operated by Aquis Exchange Plc this month. This initiative in the UK will be carried out through a partnership with GHCP, which specializes in ETFs (Exchange Traded Funds). Targeting institutional investors in the UK, 21Shares will capture demand for Bitcoin investment products in the country. The British government has so far been cautious about investing in crypto assets. In January of this year, FCA, the country’s financial regulator, took steps to ban the sale of investment products of crypto assets developed for individual investors. “We’ve been working on this project for several months with 21Shares, and we’ll be able to meet the demands of institutional investors for digital assets in the UK,” said Alas der Haynes, CEO of Aquis Exchange. doing.

https://www.coindesk.com/21shares-to-list-bitcoin-etp-in-london-on-aquis-exchange

US payment giant Square is working with Bitcoin infrastructure company Blockstream to build a bitcoin mining facility that uses solar power. The aim is to appeal to the environment-friendly Bitcoin. Square will invest $ 5 million and Blockstream will provide facility construction and management know-how. The facility will be installed at an existing blockstream facility. Recently, the impact of Bitcoin mining on the environment has been severely criticized, and it is said that some institutional investors have forgotten to invest in Bitcoin, leading to the recent price decline. “We want to prove empirically, not just the potential, that renewable energy mining facilities are accelerating Bitcoin into a sustainable future,” Block said. Stream said in a press release.

https://www.coindesk.com/square-to-invest-5m-to-build-solar-powered-bitcoin-mining-facility-with-blockstream