Bitcoin
Trump Becomes First President To Accept Bitcoin Lightning Payments For Campaign Donations
Published
3 weeks agoon
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In a historic move, Donald Trump has become the first American President to accept Bitcoin Lightning Network payments for campaign donations. The announcement marks a significant step in the integration of Bitcoin into mainstream politics, highlighting Trump’s commitment to advancing the future of Bitcoin in the United States.
Trump’s campaign has partnered with OpenNode, a leading Bitcoin and Lightning Network infrastructure provider, to facilitate these donations. Supporters can now contribute to Trump’s 2024 presidential campaign using Bitcoin via the Lightning Network, a technology designed to enable fast and low-cost transactions.
“OpenNode is proud to partner with Anedot to bring Bitcoin into the political donation process,” OpenNode told Bitcoin Magazine. “This is a perfect marriage of OpenNode’s leading Bitcoin tech stack and Anedot’s robust platform for political and nonprofit organizations. The Trump campaign’s adoption of our solution is a powerful proof-point of how political campaigns and nonprofits across the country can seamlessly accept Bitcoin donations.”
Last weekend, while speaking at a Libertarian Party convention, Trump emphasized his dedication to fostering a Bitcoin-friendly environment in the U.S., stating that he “will ensure that the future of crypto and Bitcoin will be made in the USA,” and that he “will support the right to self-custody for the nation’s 50 million crypto holders.”
Trump’s support for Bitcoin extends beyond campaign donations. During the same speech, President Trump made a historic commitment to commute the sentence of Ross Ulbricht, the founder of Silk Road and an early Bitcoin pioneer, to time served if elected President.
“He’s already served 11 years,” he said. “We’re going to get him home.”
Being the first President in U.S. history to accept Bitcoin for campaign donations underscores Trump’s broader strategy to appeal to the over 50 million cryptocurrency enthusiasts and investors in the country. By aligning himself with the Bitcoin community, the leading Presidential candidate has further positioned himself as a forward-thinking leader who embraces technological advancements and financial freedom.
Just yesterday, current U.S. President Joe Biden vetoed pro-Bitcoin legislation that would have be a huge win for Bitcoin, further showing his reluctance to support the industry. The bill vetoed by Biden would have allowed highly regulated financial firms to custody Bitcoin and other cryptocurrencies.
For more information on Trump’s Bitcoin campaign donations, visit his website here.
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Here Are Price Targets for Bitcoin, Solana, and Render, According to Analyst Jason Pizzino
Published
11 hours agoon
July 5, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/07/here-are-render-jason.jpg)
A closely followed crypto strategist and trader is revealing his price targets for Bitcoin (BTC) and two altcoin projects.
In a new strategy session, analyst Jason Pizzino tells his 329,000 YouTube subscribers that based on the average true range (ATR) indicator Bitcoin could soon break through key price target resistance levels.
The ATR indicator measures volatility by showing an asset’s trading range over a specified period.
“You can see the dying off here of the average true range of the bar. Previous cycles, look what happened. Average true range picks up, dies off, dies off, dies off, and then you start to get a higher low form and by that stage, you’re really a decent way from the stealth zone.”
![](https://dailyhodl.com/wp-content/uploads/2024/07/Jason1.jpg)
According to the analyst, Bitcoin has historically made “stealth moves” to the upside when the ATR indicator reaches a local low and price continues to consolidate or puts in higher lows.
The analyst’s key price targets to the upside include $63,300 on the daily chart, $65,200 on the weekly chart and $72,000 on the monthly chart.
Bitcoin is trading for $60,176 at time of writing, down nearly 3% in the last 24 hours.
Next up, the analyst believes that Ethereum (ETH) competitor Solana (SOL) will move toward its current cycle top.
“With the higher lows and now trying to push higher above the 50% at $137. Next target on the weekly chart is $165. And then we go towards $190, $210. So $190 is above these tops. Then $210 is the current top for Solana. So it’s on its way. It hasn’t got those longer-term time frames confirmed yet, and those longer terms are the weeklies.”
![](https://dailyhodl.com/wp-content/uploads/2024/07/jason2.jpg)
Solana is trading for $141 at time of writing, down more than 8% in the last 24 hours.
Lastly, the analyst predicts that Render (RNDR), the graphics processing unit (GPU) rendering blockchain, will reclaim a double-digit value.
“Now, what do we need to see until it gets there? Obviously higher lows, and that would happen throughout this next couple of months, maybe even up to four months as we get to that [US presidential] election… If I keep seeing higher lows, it’s not going to stop me from getting into the market if it breaks out through that period.”
![](https://dailyhodl.com/wp-content/uploads/2024/07/jason3.jpg)
Render is trading for $7.04 at time of writing, down 7.7% in the last 24 hours.
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Bitcoin
Bitcoin price plunges below $55k as Mt. Gox announces repayments
Published
11 hours agoon
July 5, 2024By
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The price of Bitcoin has continued its descending movement, sliding under the $55,000 threshold, returning back to levels last seen in February.
Bitcoin’s (BTC) sell-off has intensified amid reports that the collapsed crypto exchange Mt. Gox moved over 47,000 BTC (worth around $2.6 billion) to a new wallet ahead of its $9 billion payout. At the time of writing, the price of Bitcoin is $54,561, a mark last witnessed in February, when the largest by market capitalization cryptocurrency was surging to a new all-time high.
Following the transaction, Mt. Gox trustee officially confirmed on Jul. 5 during Friday’s Asian trading hours that the collapsed exchange “made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors.” The trustee didn’t specify though the amount of BTCs sent to creditors.
The crypto market has faced significant pressure recently, affecting both investor sentiment and miner operations following the April halving, which reduced mining rewards from 6.25 BTC to 3.125 BTC. At Bitcoin’s current price, only five ASIC rigs from Avalon and Antminer remain profitable, according to f2pool’s X post.
⛏️With #Bitcoin trading below $58k, what is the current profitability for mining?
At a rate of $0.08/kWh, ASICs less efficient than 23 W/T operate at a loss.
For more details on mainstream miners, please refer to the table below. pic.twitter.com/hJS1lsVnmK
— f2pool 🐟 (@f2pool_official) July 4, 2024
The rapid drop below $55,000 has pressured speculators, resulting in $682 million in liquidations of both long and short positions across multiple exchanges, according to Coinglass.
![Bitcoin price plunges below $55k as Mt. Gox announces repayments - 1](https://crypto.news/app/uploads/2024/07/hisudhfds.png)
Over the past 24 hours, more than 235,000 traders were liquidated, with the largest single liquidation order on Binance’s ETH/USDT trading pair valued at over $18.4 million. According to CoinGecko, the total crypto market capitalization dropped by over 8% to $2 trillion, increasing sell-offs among speculators.
As crypto.news reported earlier, TRON founder Justin Sun offered to help the industry by teasing his “willingness” to buy confiscated Bitcoins from the German government over-the-counter. It’s unclear when these negotiations will begin, but with the recent movement of Bitcoins to centralized exchanges from Germany-labeled addresses, Mt. Gox’s repayments have seemingly become the primary concern among traders.
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Bitcoin
Bitcoin’s quick dip below $57k forces beginners to capitulate, CryptoQuant says
Published
17 hours agoon
July 5, 2024By
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As Bitcoin plunged below the $57,000 mark, concerns surged among investors about potential market volatility and its impact on miners.
On Thursday morning, speculators continued their selling pressure, forcing Bitcoin (BTC) to dip below $57,000 for the first time since February. As of press time, Bitcoin rebounded above the $57,000 mark, but its previous quick plunge might signal weakness, potentially impacting sentiment among retail traders.
![Bitcoin's quick dip below $57k forces beginners to capitulate, CryptoQuant says - 1](https://crypto.news/app/uploads/2024/07/gsidyfhsd-1024x600.png)
Blockchain research firm CryptoQuant noted that crypto beginners — who bought BTC over the past six to three months — have started moving their coins amid the plunge and “increasing selling pressure.” According to the platform’s data, approximately $2.4 billion worth of BTC controlled by crypto beginners began moving, likely signaling their intention to sell at current market prices.
The market turbulence might also be worsened by miners, who are facing a rapid drop in hashprice, a metric representing miner revenue per terahash. Crypto mining analytics firm Hashrate Index noted that the hashprice mark amid Bitcoin’s plunge is “scratching its all-time low,” a level last seen during the bear market. As of press time, hashprice is at $44.69, potentially pushing some miners to liquidate their reserves to sustain operational expenses.
In a May exclusive interview with crypto.news, CryptoQuant head of research Julio Moreno noted that the market is “likely to see a miner capitulation if prices don’t recover significantly during the summer,” adding that the hashprice (average miner revenue per hash) is repeatedly “making new lows” following the latest halving. At the time of writing, Bitcoin is trading at $57,336, according to data from crypto.news.
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