📈 General Bitcoin Market News
Fear and Greed Index
- Current Value: 51
- Change Since Last Week: +21
Bitcoin Price Update
- Current Price: $61,762.75
- Weekly Percentage Change: +0.3%
Market Sentiment
- Bitcoin hasn't moved much since last week as we see a minor rise of 0.3%.
- US ETFs are netting an outflow of -$1.6B whilst HK are netting a modest outflow of -$39.7M bringing total net outflows across US and HK to -$1.6B which seems to indicate a rise in fear as the BTC price dips: source
- This week, more outflows continue to retain fear and caution in the market.
- The federal funds rate (FFR) is steady at 5.25-5.5%.
BTC Liquidations
- Total Shorts Liquidated: $86.69M
- Total Longs Liquidated: $68.14M
Source
🌐 Bitcoin Ecosystem Updates
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Top Headlines
- OmnityNetwork, the first 100% decentralized omnichain interoperability protocol, built on ICP, which operates without any off-chain daemons like relayers or indexers, is now connected with Bitlayer.
- OpenBit now supports Bitlayer, allowing users to manage their assets on Bitlayer with ease through their wallet.
- 6 Bitlayer ecosystem projects to bring over $1.2 million in BTR rewards: Zearn Protocol, Macaron, Anome, Vanilla Finance, Gamerboom and Avalon Finance.
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Top Headlines
- BOB join the One Balance fellowship to offer credible accounts and build toward more scalability and user-friendliness.
- Mint the BOB summer NFT, here. 25,000 Spice bonus.
- BOB Gateway launch has seen over 2000 users going directly from Bitcoin to BOB. Learn more
- Tenderly App adds support for BOB to bring their suite of node infra, exploration tools & dev environments to the developer community on BOB.
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Top Headlines
- Ordinox has partnered with B2 to enable users to swap natively between BRC20s / Runes on Bitcoin L1 and ERC20s on B2 Network.
- Elastos' BeLayer2 teams team up with B2 Network to enhance Bitcoin's capabilities using BeL2 Protocol.
- BAMK•OF•NAKAMOTO•DOLLAR, the issuer of the Nakamoto Dollar (NUSD), a synthetic dollar on Bitcoin L1, announces partnership with B2.
- OmnityNetwork is now connected with B2.
- ChoiseAI, a leading Web3 B2B & B2C crypto banking platform with global licenses to operate in 120 countries, partnered with Visa, Mastercard, BitGo & 50+ companies, has partnered with B2 Network.
- APRO Oracle partners with B2 to bring precise and efficient real-world data to meet the diverse access needs of developers in the ecosystem.
- Runes Chain partners with B2. Runes Chain utilizes ZK-Rollup and Orbit Stack to address lingering issues on Bitcoin L2, including transaction speed and chain security.
- InfinityAI, a decentralized AIGC infrastructure built on the Bitcoin Layer2 network, partners with B2.
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Top Headlines
- Lorenzo Protocol partners with Botanix to bring their premier liquid staking, trading and settlement platform to Botanix.
- Skate Chain partners with Botanix to offer the stateless dapp infra.
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Top Headlines
- Ordinal Hive to integrate with Merlin and bring the first-ever pro trading protocol for Ordinals on Bitcoin. Tailored for high-frequency and high-volume traders.
- UXLINK partner with Merlin to bring their powerhouse web3 social platform to the network.
- Surf Protocol surpasses $1 Billion in trading volume.
- 𝗠𝗲𝗿𝗹𝗶𝗻 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗲𝗿 𝗨𝗽𝗱𝗮𝘁𝗲: 𝟮𝟴 𝗝𝘂𝗻𝗲, 𝟮𝟬𝟮𝟰:
- MERL Airdrop Phase III has been distributed.
- Documentation has been updated. Read here
- 𝗢𝗽𝘁𝗶𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻𝘀 & 𝗕𝘂𝗴 𝗙𝗶𝘅𝗲𝘀
- Cross-Chain Asset Search
- Verified Babylon Staking & Unstaking Features
- Optimized Processing of Delayed Withdrawal Transactions
- Fixed Gas Fees Issues
- Fixed NFT Withdrawal Issues
- Fixed "Invalid Opcode" Errors Reported by Developers
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Top Headlines
- An issue was identified affecting some of the Mainnet pegnatories due to a bug in Bitcoinj, a key dependency used by Rootstock nodes. Learn more
- Rootstock is now live on Rubic. This integration makes Rootstock accessible to users on Rubic, which bridges between over 20 Bitcoin and EVM networks.
- SideShift integrates with Rootstock. Sideshift is on a mission to simplify crypto trading with its direct-to-wallet exchange.
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Top Headlines
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Closing Thoughts
This week's subtle shifts in the Bitcoin market underscore a cautious but observant sentiment among investors. With a minor rise in Bitcoin's price and significant ETF outflows, it's evident that the ecosystem is bracing for potential volatility. Amidst this cautious optimism, the dynamism within the Bitcoin ecosystem continues to flourish, marked by groundbreaking partnerships and technological advancements across networks like Bitlayer, BOB, and B2. As these developments unfold, staying informed and adaptable is essential for anyone looking to navigate the complexities of the crypto landscape effectively. Keep a close eye on these trends and opportunities—they could shape the direction of the market in the weeks to come.
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