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Bitcoin Dominance ($BTC.D) just printed its most bearish weekly close in recent months, breaking down decisively below two major monthly lows within a single candle. This clear sign of weakness suggests that Bitcoin’s market share is losing strength as capital rotates into altcoins or moves to the sidelines. Traders and analysts are now eyeing the next key target at 55%, which could open the door for a stronger altcoin rally if the trend continues. If dominance fails to hold above that level, we may see further downside pressure on Bitcoin’s relative share, potentially fueling an extended altcoin season ahead.
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#BTCvsETH Bitcoin (BTC) and Ethereum (ETH) are the two biggest cryptocurrencies by market cap, but their price dynamics differ. Bitcoin, often called “digital gold,” has a higher price per coin and is viewed mainly as a store of value. As of now, BTC trades well above $60,000, driven by its fixed supply of 21 million coins. Ethereum, trading near $3,500, powers the largest smart contract ecosystem. Its price depends not only on demand but also on network upgrades and DeFi activity. While BTC’s price is seen as more stable long term, ETH’s price reflects innovation and growth in blockchain applications.
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In the past year, major crypto exchanges like ByBit, Coinbase, and BtcTurk suffered hacks but refunded affected users from their own reserves. However, WazirX, which lost an estimated $230 million on July 18, 2024, remains the only exchange that has not refunded its users yet. source : @cryptooindia
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#AltcoinBreakout $BTC Indian high‑net‑worth individuals (HNIs) and family offices are increasingly shifting capital from traditional assets such as stocks and gold into blue‑chip cryptocurrencies, driven by the global bull run and rising interest in tokens like Bitcoin, Ethereum, Solana, and XRP. Recent data from platforms including CoinDCX, Mudrex, CoinSwitch, and ZebPay reveal HNI trading volumes soared roughly 25–30% in early July compared to June, with Mudrex reporting a jump to nearly $10 million in a single week . CoinDCX notes that over 3,500 affluent investors now account for nearly half of its trading volume, averaging over ₹50 lakh in monthly spot trades . The momentum follows global triggers such as the U.S. Crypto Week and rising Bitcoin ETFs, inflows of over $70 billion in recent months, and record Bitcoin prices exceeding $120,000 . HNIs are gravitating toward “established cryptocurrencies offering credibility and liquidity,” noted CoinSwitch’s Ashish Singhal—highlighting Bitcoin and Ethereum, with growing interest in Solana and XRP . While still cautious due to regulatory and tax uncertainties in India—30% capital gains tax plus 1% TDS—wealthy investors are allocating a modest 2–5% of their portfolios to digital assets . Analysts see this as a strategic shift from “why crypto?” to “how much and where?” underlining a maturing investment mindset.
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#StablecoinLaw In the United States, stablecoin regulation is gaining momentum as lawmakers and regulators aim to bring clarity and consumer protection to this fast-growing sector. The proposed stablecoin laws focus on ensuring that issuers maintain sufficient reserves, undergo regular audits, and comply with stringent disclosure requirements. These measures seek to prevent runs and protect investors by guaranteeing that stablecoins are fully backed by secure, high-quality assets like cash or Treasury bills. The legislation also aims to define the role of banks and non-banks in issuing stablecoins, balancing innovation with financial stability and anti-money laundering safeguards to maintain trust in digital dollars.
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