Bitcoin Back at $60K Level

CoinDesk 20 Index: 1,930 −0.2%

Bitcoin (BTC): $60,150 +0.2%

Ether (ETC): $2,558 +1.2%

S&P 500: 5,592.18 −0.6%

Nikkei 225: 38,362.53 −0.02%

Bitcoin rose above $60,000 in the morning hours after a sharp decline earlier this week.

The leading cryptocurrency is currently trading around $60,350, around 6% below Monday’s $64,000 high. The digital asset market is down about 0.45% in the past 24 hours, according to CoinDesk Indices data.

Spot ether ETFs saw $5.9 million in inflows yesterday, snapping a nine-day losing streak, with ether up nearly 1.35% to $2,550.

TON has been outaged for the second time in 24 hours.

“The TON network is fully operational again. Withdrawals of TON-based assets and deposits to the wallet will be processed sequentially,” the community’s Telegram channel said in a statement. According to the statement, the outage, which lasted more than four hours, is believed to be related to DOGS tokens. CoinDesk Indices data shows that Toncoin, the native token of the TON protocol, increased by about 8% during the developments. The token is trading below the level it was at before the arrest of Telegram CEO Pavel Durov.

While Telegram and TON are officially separate entities, they are interrelated so factors that affect one also affect the other.

Telegram CEO Pavel Durov was released on bail as of yesterday.

The decision has shocked bettors on crypto-based prediction market Polymarket, costing them a total of $270,000 in losses. As of yesterday, Durov, who faces formal charges, agreed not to leave the country by paying a €5 million ($5.6 million) bail. Durov will report twice a week. A user named Champ became the biggest winner of both contracts, investing in a contract that would see Durov released in August, as well as another contract that would see him released before October.

Champ earned $26,138 from the two contracts, for a total of $56,638.

The chart shows the relationship between peak earnings per share (EPS) growth rates and 10% corrections that increase market volatility. Shares of Nvidia, which is listed on Nasdaq, fell more than 7% yesterday. Bitcoin has shown a strong positive correlation with NVDA since 2022, so the chipmaker’s stock is a stock that crypto investors are closely following. Source: MacroMicro