Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Is Bitcoin price action about to wake from its bearish slumber? New data from Santiment suggests this could be the case. The United States crypto industry is picking apart the first presidential debate between Joe Biden and Donald Trump. Meanwhile, a Bitcoin wallet owned by a Bitcoin miner that has lain dormant for 14 years has reawakened.
Bitcoin social sentiment decline may signal market bottom
The recent bearish market turmoil has dampened the previously high levels of bullish remarks and euphoria surrounding Bitcoin’s price, which could indicate a potential market bottom.
Data from crypto analytics firm Santiment shows that bullish Bitcoin
BTC $61,058 remarks across social media platforms such as X, Reddit, Telegram, 4Chan and BitcoinTalk have dropped significantly over the past few weeks.
BTC’s price has been trading sideways since the Bitcoin halving in April.
Santiment data indicates that trader sentiment was most bullish at the beginning of April in the lead-up to the Bitcoin halving.
However, over the past three months, optimism has gradually waned as traders have lost confidence in the markets due to Bitcoin’s failure to reach new all-time highs.
On the other hand, the bearish crowd calls have also declined over the same time period, but not as drastically as the bullish crowd calls. Santiment said the decline in trader euphoria around Bitcoin is a potential bottom signal.
Crypto watchers eye U.S. presidential debate
On June 27, President Joe Biden and former President Donald Trump will hold their first debate ahead of the 2024 election. While neither candidate has officially accepted nominations to represent their party, polls overwhelmingly suggest the 2024 presidential election will be Biden-Trump rematch.
Crypto has become a hot-button topic for both nominees, with Trump emerging as the pro-Bitcoin candidate despite being hostile to digital assets during his time in office. Meanwhile, Biden has taken several anti-crypto actions during his time in office, though the tide seems to be shifting among Democrats.
“While it is unlikely that the moderators will address cryptocurrency in this first debate, they certainly should,” Moe Vela, a former adviser to then-Vice President Biden, told Cointelegraph. “Crypto is not only a significant economic and financial issue, but it also represents a large segment of millennial, Gen Z, and young professional voters. The outcome of this election could hinge on the crypto community.”
The Biden-Trump debate is scheduled to last 90 minutes with two commercial breaks.
Satoshi era Bitcoin wallet wakes up after 14 years, sends 50 BTC to Binance
A Satoshi-era Bitcoin BTC $61,058 wallet dating back to 2010 woke up from dormancy after 14 years and sent 50 Bitcoin to the Binance crypto exchange.
According to data from onchain analytics firm Lookonchain, the Bitcoin wallet is linked to a BTC miner who earned 50 BTC as mining rewards in July 2010. These are some of the earliest mined Bitcoin when the mining reward per block was 50 BTC. The current block reward is just 3.125 BTC.
The Bitcoin miner earned the 50 BTC block reward when BTC was trading at a price of around $0.05 and was barely a year old. At the time, the value of the BTC holdings was a mere $25.
The transaction history of the Bitcoin wallet indicates that the miner managed to mine a single block, a rare feat in today’s world where Bitcoin network hashrates are touching new all-time highs.
Crypto scammers hijack major Australian news broadcaster’s YouTube
The YouTube news channel of a major Australian broadcaster, the Seven Network, was hijacked by crypto scammers on Thursday — showing videos of a deep fake Elon Musk offering a fraudulent crypto scheme.
7News’ YouTube channel was rebranded to appear as automaker Tesla, showing an artificial intelligence-generated fake of the firm’s CEO saying he’s giving away crypto.
The AI-faked Musk tout a common “double-your-money” scam — promising to send back double the amount of any crypto sent to an address.
About 150,000 in total were viewing three livestreams showing the fake Musk on the 7News channel at the time of writing. It’s unknown how many viewers are bots in a bid to boost viewership numbers.
Links to the 7News YouTube channel were broken, but the hijacked channel still showed the news organization’s verification tick.
A Seven spokesperson told The Sydney Morning Herald that the company was aware some of its YouTube channels were not appearing as normal.
“Seven is investigating and working with YouTube to resolve the situation as soon as possible,” the spokesperson said.
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