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Crypto Majors Subdued After Fed’s Hawkish Stance

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The biggest cryptocurrencies fell during the European morning, extending the subdued mood after the Federal Reserve trimmed interest-rate cut expectations on Wednesday. Bitcoin and ether both fell by around 1% over 24 hours, CoinDesk Indices data show. Bitcoin dropped to just below $66,000 – near the low end of the $72,000-$65,000 range it’s been trading in for the past month – and ether was quoted around $3,500. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, fell about 1.8%. Markets in many countries are closed for Islam’s Eid al-Adha festival. Meme coins led declines, with SHIB losing 3.5% and DOGE dropping 1.7%.



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Anonymous Donor Pays $500,000 in Bitcoin for Julian Assange's Freedom Flight

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June 26, 2024

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An anonymous Bitcoin donor has paid over $500,000 in BTC to cover WikiLeaks founder Julian Assange’s expenses for his flight home to Australia. Assange is now a free man after pleading guilty in a US court under a deal ending his 14-year legal battle.

Assange was released from prison in the UK on June 24th and flew to the US territory of Saipan to enter his plea. He had been fighting extradition to the US on espionage charges related to WikiLeaks publication of classified documents.

On June 26th, Assange arrived back in his native Australia and embraced family members in Canberra. He has been a pioneer for Bitcoin and WikiLeaks since its inception, even receiving donations in BTC in 2010 when few knew about it.

Just a day earlier, to cover the $520,000 cost of his private charter flight arranged by the Australian government, Assange’s wife issued an urgent appeal for donations. She also provided a Bitcoin address for contributions.

Remarkably, a single Bitcoin donor sent over 8 BTC worth nearly $500,000 to the address to cover the entire debt. This allowed Assange to return home without financial burden.

The anonymous donor’s massive contribution highlights the Bitcoin community’s enduring support for Assange and his work revealing government secrets. Bitcoiners have long advocated for his release.

While the whale’s identity remains unknown, the donation underscores Bitcoin’s role in enabling uncensored free speech and financial freedom.

The weeks ahead will focus on helping Assange recuperate after prolonged confinement. However, given his longstanding history with the technology, his engagement with Bitcoin will likely continue. Assange’s saga symbolized the battle between individual liberties and unchecked government power.





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German Government Moves Millions in Bitcoin to Exchanges

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4 hours ago

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June 26, 2024

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The German government has transferred millions in seized Bitcoin to major Bitcoin and crypto exchanges Kraken and Coinbase, according to blockchain analysis firm Arkham.

The transfers originated from a wallet connected to the German Federal Criminal Police Office (BKA). In 2013, the BKA seized almost 50,000 Bitcoin, from a film piracy website.

On Tuesday, the BKA wallet moved $24 million in Bitcoin across two transactions to Kraken and Coinbase. An additional $30 million in Bitcoin was sent to an unknown wallet not affiliated with an exchange.

Arkham data shows that these transfers follow previous movements of $195 million in Bitcoin to exchanges on June 19 and 20. Over $425 million has been shifted in the past week.

While the German government still holds the majority of the seized Bitcoin, the transfers to exchanges may signal an intent to liquidate some of the assets.

Selling government-held Bitcoin introduces potential downward price pressure. However, the amounts moved so far represent a relatively small portion of daily Bitcoin trading volume. 

Nonetheless, Bitcoin dipped below $60,000 on Tuesday amid this news. The German government’s Bitcoin wallet still holds over 46,000 Bitcoin worth nearly $3 billion. 

For German police, the Bitcoin seized from illegal activities has dramatically increased in value. Selling even a fraction provides an unexpected windfall. However, concerns about potential impacts on the broader Bitcoin market remain.



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Robert Kiyosaki Decodes Bitcoin’s “Banana Zone”, Contrasts with Fiat Currency

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6 hours ago

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June 26, 2024

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Robert Kiyosaki, renowned financial educator and author of the influential book “Rich Dad Poor Dad,” has recently shared his insights on Bitcoin’s “Banana Zone,” a term popularized by financial expert Raoul Pal. He contrasts this with the inherent weaknesses of fiat currency, shedding light on why Bitcoin’s rules-based monetary system offers a more secure and prosperous future. Through his unique perspective, Kiyosaki continues to educate and guide investors on navigating the evolving financial landscape.

Robert Kiyosaki’s Perspective: Bitcoin’s “Banana Zone” vs. Fiat Currency

Robert Kiyosaki, emphasizes the fundamental differences between Bitcoin and fiat currency, highlighting Bitcoin’s superiority as a store of value. Kiyosaki describes fiat money as “debt-based,” subject to inflation and financial instability due to governments’ ability to print it at will.

In contrast, Bitcoin’s “rules-based” system, with its fixed supply and decentralized nature, makes it a more reliable store of value, designed to appreciate over time. Kiyosaki’s endorsement is bolstered by Raoul Pal, a former Goldman Sachs executive, who predicted Bitcoin’s entry into “the Banana Zone” a phase of parabolic price increase where those who missed out regret not investing earlier.

Pal’s advice led Kiyosaki to invest in Bitcoin at $6,000, with current values around $60,000, showcasing significant growth. This success story underscores Pal’s market predictions and Bitcoin’s long-term potential. As Bitcoin approaches the “Banana Zone,” Kiyosaki advocates understanding its investment benefits over fiat currencies, which may decline in value.

Also Read: US Spot Bitcoin ETFs Record Net Inflows, Has Bitcoin Price Really Bottomed?

Current Bitcoin Market Dynamics

Bitcoin’s price trajectory has illustrated a notable uptick of 0.78% over the past day, with the token trading at $61,639.67 at press time. Its 24-hour lows and highs were $60,626.97 and $62,466.32, respectively. Intriguingly, after a sluggish period of trading in recent days, primarily because of macroeconomic factors and ETF outflows, Bitcoin gains momentum on the backdrop of $31 million inflows in BTC ETFs on June 25, per data by Farside.

This renewed investor interest highlights the resilience and potential of Bitcoin as an asset. Meanwhile, Bitcoin’s dominance in the cryptocurrency market rested at 53.42%, up 0.10% from the previous day, indicating a steady consolidation of its market position. This dominance and price increase signify growing confidence in Bitcoin’s role as a leading digital asset, reinforcing the arguments made by financial experts like Kiyosaki and Pal.

Also Read: VanEck Declares Zero Fee for Spot Ethereum ETF Gearing Up for July 2 Launch

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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