Bitrue Bulletin | 3.7.2023–9.7.2023 | | by Bitrue | Jul, 2023

From the Bitrue blog.

Bitcoin Shows Strength as Asset Managers Update ETF Applications — Bitcoin (BTC) demonstrated resilience by holding above the psychological $30,000 USD support level throughout the Fourth of July week. Despite failing to gain significant upward momentum, BTC experienced a rally on Monday when several asset managers, including BlackRock, Fidelity, and Valkyrie, amended and resubmitted their applications for a spot bitcoin ETF. These updated applications provided more specific details about surveillance-sharing agreements, addressing the SEC’s main concern in previously rejected applications. Although BTC prices dipped during the Fourth of July holiday, a notable spike on Thursday propelled the cryptocurrency from around $30,500 USD to approximately $31,400 USD. While Ether (ETH) briefly attempted to recover against BTC, altcoins like Solana (SOL) showcased positive performance, rallying over 45% since June 10, despite regulatory challenges from the SEC.

BlackRock CEO Applauds Bitcoin as a Digital Gold, Signaling a Shift in Tone — BlackRock CEO Larry Fink made noteworthy remarks about Bitcoin in a recent interview, referring to it as “digitizing gold.” This statement follows BlackRock’s prominent role among traditional financial institutions in filing for a spot Bitcoin ETF. Fink praised Bitcoin as an “international asset” that serves as a hedge against the challenges faced by individual countries or the devaluation of any currency. This marks a remarkable change in Fink’s perspective from 2017 when he expressed concerns about Bitcoin being associated with money laundering. The CEO’s positive stance on Bitcoin highlights the growing recognition of its potential as a valuable asset in the global financial landscape.

Azuki NFT Prices Experience Setback Amid Controversy Surrounding Elementals Collection — Azuki, one of the most sought-after NFT projects, faced a backlash following the launch of its Azuki Elementals collection last week. Community members expressed disappointment as the new collection closely resembled the original artworks while containing various artistic errors. Consequently, the prices of the original Azuki NFTs experienced a significant decline, dropping from a high above 17 ETH in June to below 6 ETH at one point this week. This price decrease can be partially attributed to a broader sell-off within the NFT sector, as even prominent collections like Bored Ape and Mutant Ape witnessed substantial drops, with floor prices dipping below 30 ETH and 5 ETH, respectively, levels not seen since the end of 2021. The incident highlights the importance of maintaining quality and community trust within the NFT space.

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