A roundup of the latest developments in the cryptocurrency world, including advocacy for pro-crypto policies, a new inverse Bitcoin ETF in Hong Kong, and insights on Bitcoin’s market dynamics.
Points
- Digital Chamber urges VP Kamala Harris to adopt a pro-crypto stance.
- Hong Kong to launch Asia’s first inverse Bitcoin ETF.
- ARK Invest reports Bitcoin was significantly oversold due to a German government sell-off.
- Ripple donates $1 million to a Senate candidate opposing Elizabeth Warren.
The cryptocurrency world saw several noteworthy developments today. A crypto advocacy group has penned a letter to U.S. Vice President Kamala Harris, urging her to adopt a more blockchain-friendly stance. The Digital Chamber recommended that Harris support digital assets in the Democratic Party’s platform and choose a running mate knowledgeable about the sector.
Cointelegraph
In another significant move, Hong Kong is set to launch Asia’s first inverse Bitcoin ETF on July 23. The CSOP Bitcoin Future Daily （-1x） Inverse Product will allow investors to profit from declines in Bitcoin’s price, continuing the region’s expansion into cryptocurrency investment products.
Cointelegraph
A new report by ARK Invest suggests that Bitcoin （BTC） was significantly oversold in June after the German government initiated a multiweek sell-off of 50,000 BTC seized in a 2020 police sting. The asset manager also noted that Bitcoin miners are in capitulation mode, indicating a potential bullish reversal.
Cointelegraph
In political news, Ripple has donated $1 million to a candidate in the Massachusetts Republican Party Senate primary, John Deaton, who is running against Elizabeth Warren. This move underscores Ripple’s commitment to supporting pro-crypto political candidates and policies.
解説
- The Digital Chamber’s advocacy for pro-crypto policies highlights the growing importance of blockchain technology in political discourse.
- Hong Kong’s launch of an inverse Bitcoin ETF represents a significant step in providing diverse investment products in the cryptocurrency market.
- ARK Invest’s report on Bitcoin being oversold suggests potential for a price rebound, highlighting market dynamics influenced by large-scale sell-offs.
- Ripple’s political donation reflects the intersection of cryptocurrency interests and political campaigns, emphasizing the need for regulatory clarity and support.