Gold prices rose on Tuesday to record their highest levels in over a month, supported by a weaker U.S. dollar and declining Treasury yields, while investors await progress in trade talks ahead of the August 1 deadline.
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Arincen - In an unprecedented move, the British government is considering selling more than £5 billion of seized cryptocurrencies, primarily Bitcoin, in an attempt to close the growing budget deficit and support the public treasury ahead of the anticipated autumn budget.
The Telegraph reported that the Home Office is working in collaboration with the police and the Treasury to develop a plan to liquidate digital assets estimated to be worth $6.7 billion. Treasury Secretary Rachel Reeves is closely monitoring the details of the operation, amid a government search for new funding sources to cover a financial gap of about £20 billion.
The plan includes developing a new system called the "Digital Asset Seizure Framework" to securely and uniformly store and sell seized cryptocurrencies, which was initially proposed through a £40 million contract, but was canceled due to a lack of suitable bids, with an intention to relaunch it in an updated form.
Among the most prominent assets targeted for liquidation are more than 61,000 Bitcoins that were seized in 2018 in a Chinese fraud case. At that time, their value was around £300 million, but the rise in Bitcoin prices has today pushed it to over £5.4 billion.
However, the plan faces legal challenges, amid official demands from victims of the fraud to recover their assets. #BTCvsETH
com - Stocks of companies linked to cryptocurrencies have surged during these moments of trading on Monday, driven by a rise in Ethereum prices after U.S. President Donald Trump signed a new law regulating stablecoins in the United States.
Trump signed the GENIUS Act on Friday evening, in a move considered a major victory for cryptocurrency advocates who have sought for years a regulatory framework that grants this sector broader institutional legitimacy.
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1. ETH has risen above the $3,600 $ level amid record inflows in spot ETFs ([turn0image8], [turn0news3]).
2. Strong technical support at $3,500, with a confirmed 'Golden Cross' in moving averages ([turn0news1], [turn0news5]).
3. Open Interest in ETH futures contracts has reached a new record high, reflecting excessive activity and anticipation of a significant price movement ([turn0news5]).
4. The volume of ETH futures contracts surpassed Bitcoin's volume by 50%, indicating a rise in speculative interest ([turn0news11]).
5. Analysts from Fundstrat predict that ETH could reach $4,000–15,000 $ supported by institutional adoption ([turn0news7]).
6. High liquidity in futures indicates the potential for strong volatility in the near term ([turn0news9]).
7. The price remains above $3,500 $ after a 70% rise since late June, aiming to test the ceiling of $4,000 $ in the coming weeks ([turn0news5]).
📌 Two tips for traders:
Set stop-loss orders around $3,400–3,500 $ to protect capital from any sudden correction.
Consider gradual accumulation — buy in increments at each push towards support levels to reduce risk and maximize portfolio profits.
1. XRP surpassed the level of 3.50 $ after a rise of +5% driven by the passing of the Genius Act in the US Congress, which enhances the status of cryptocurrencies, including XRP.
2. The currency recorded a high of 3.64 $ earlier during daily trading.
3. Prominent analysts like Peter Brandt expect a rise of about 60% to touch **4.47 $**.
4. Market “whales” activity is active – as 70 million dollars of XRP were recently pumped into Coinbase.
5. A “Golden Cross” pattern in MVRV appears, supporting the likelihood of a strong upward wave.
6. The formation of a Parabolic angle and a significant increase in volume indicate a high momentum growth phase, but the possibility of a correction amid selling pressure should be considered.
7. The bottom line: If US regulation expands and cryptocurrencies are included in retirement plans, the short to medium-term momentum is likely to continue to bolster XRP.
Summary: XRP is witnessing a strong recovery with regulatory and technical support, and the opportunity suggests the possibility of reaching between 4–5 $ while the chances of a correction remain.
Bitcoin recorded a rise today to around $118,800 after a 48-hour stability wave. Analysts expect the upward trend to continue, supported by institutional purchases and ETF products. The nearest support is now at $117,500, while the market is watching for a breakout at the $120,000 level. The overall market sentiment is "neutral to positive," with optimism about reaching a new ceiling in August.
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