CryptoQuant Analyst: Bitcoin's New High Driven by US Buying Pressure, Market Bullish Sentiment May Not Be Over Yet

Whales are accumulating $IP. Whale 0x385D accumulated 857,192 $IP ($3.8M) 2 minutes ago. Whale 0xE0e6 accumulated 814,523 $IP ($3.61M) 15 minutes ago.

On July 12th, Coinbase modified its X account avatar to an image themed with a "Chonky Penguin", accompanied by the caption "New avatar. Who doesn't love it?"

On July 12th, as reported by Bloomberg on Friday and based on information from three people with knowledge of the matter, Binance had assisted WLFI in creating (coding the basic code) and promoting the USD1 stablecoin, and had played a role in its largest transaction prior to CZ seeking clemency. In response, CZ claimed that the Bloomberg article was sponsored by a competitor and contained multiple factual inaccuracies.

On July 12th, according to Arkham Statistics, the German government sold 49,858 bitcoins at an average price of $57,900. When compared to the current price range of $117,000, the "sell-off" has resulted in a loss of $2.98 billion.

On July 12th, as per official information, Arkham Exchange is set to list PUMP for spot and perpetual swap trading. Once the PUMP ICO is completed, the trading will officially commence.

On July 12th, as per DL News, the passage of the Genius Act in the U.S. Senate is attracting the attention of the banking and legal sectors. This bill, which gives stablecoin holders priority claim to their reserve assets in the event of bankruptcy, may pose risks to traditional banks and other customers. Georgetown Law professor Adam Levitin cautioned that this arrangement is essentially "subsidizing stablecoin issuance at the expense of bank deposits," which could harm the interests of ordinary bank customers, especially when the stablecoin issuer or its custodial bank goes bankrupt. The current version of the bill stipulates that stablecoins must be backed by highly liquid assets (such as U.S. Treasury bonds), the issuer must disclose reserve status on a monthly basis, and have the ability to freeze tokens. If passed, banks and other entities will be able to issue compliant stablecoins. The bill is currently awaiting review by the U.S. House of Representatives. While aiming