The Bitcoin Bungalow | Issue 15 | July 9 2024

📈 General Bitcoin Market News

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Fear and Greed Index

• ‍Current Value: 27
• Change Since Last Week: -24
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Bitcoin Price Update

• ‍Current Price: $57,096.14
• Weekly Percentage Change: -7.5%
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‍Market Sentiment

• Bitcoin falls -7.5% to stir up some more market-wide fear.
• US ETFs are netting a whopping outflow of -$4.4B whilst HK are netting a modest inflow of +$12.19M bringing total net outflows across US and HK to -$4.4B which seems to indicate a continuation in the rise in fear as the BTC price dips further: source‍
• This week, more outflows continue to retain fear and caution in the market, though Hong Kong inflows suggest the sentiment might be different in the East.
• The federal funds rate (FFR) is steady at 5.25-5.5%.
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BTC Liquidations

• Total Shorts Liquidated: $278.4M
• Total Longs Liquidated: $383.5M

Source

🌐 Bitcoin Ecosystem Updates

Top Headlines

• BeFi Labs go live on Bitlayer. BeFi is a ₿RC20, Runes and Ordinals trading terminal that will bring Bitlayer users frictionless, fast, and fun BTCfi trading.
• DeBox integrate with Bitlayer. With DeBox supporting Bitlayer, users can view Bitlayer on-chain assets directly in the DeBox app.
• Bitlayer welcomes Domin Network. Domin integrates real-world commerce data into a multi-chain ecosystem using NFTs, DePIN, and AI to optimize consumer data in dApps.
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Pre-register to be the first to explore BitLayer Data through Ortege Studio: Pre-register

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Top Headlines

• BOB joins Particle Network to simplify Web3 UX and solve user fragmentation.
• Hamilton tokenize first US Treasury Bills on chain on BOB!
• OpenBit has intergated BOB and provided support for WBTC, ETH, and USDT.
• BOB is now connected to the Hyperlane network, enabling fast token bridging, interchain apps, and Permissionless Interoperability.
• Ionic is coming to BOB. Ionic is the #1 money market for Yield Bearing Assets on the OP Superchain with over $250m TVL.

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Pre-register to be the first to explore BOB Data through Ortege Studio: Pre Register

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Top Headlines

• Particle Network add B² to the Chain Abstraction Coalition.
• OrangeLayer announce collaboration with B². OrangeLayer is a staking infrastructure that brings Bitcoin's cryptoeconomic security to the Ethereum ecosystem.
• Bedrock is partnering with B². Bedrock is the first multi-asset liquid restaking protocol backed by credible investors, including OKX and Babylon founder.
• NovaSeeds partners with B2. NovaSeeds is a solution provider aiming to democratize access to cutting-edge launchpads.
• OpenBit set to collaborate with B².

Pre-register to be the first to explore B² Data through Ortege Studio: Pre-Register

Top Headlines

• Runes Terminal partners with Botanix to create a seamless and secure experience for Runes enjoyers on Bitcoin’s second layer.
• Tomo partners with Botanix to bring their all-in-one social wallet to Bitcoin.

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Pre-register to be the first to explore Botanix Data through Ortege Studio: Pre-Register

Top Headlines

• SOFA.org is building on Merlin. SOFA brings MERL holders diverse financial product options, from BTC to various asset classes.
• 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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Pre-register to be the first to explore Merlin Data through Ortege Studio: Pre-Register

Top Headlines

• Wigwam partners with Rootstock to enable users to seamlessly interact with decentralized apps via their wallet.
• Elk Finance brings secure, cross-chain functionality to Rootstock with its cross chain DEX.
• The RSKj Arrowhead 6.3.0t is now available, packed with improvements to enhance your experience. Learn more

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Pre-register to be the first to explore Rootstock Data through Ortege Studio: Pre-Register

Top Headlines

• Hypernative Labs set to bring their security solution to Stacks.
• sBTC coming soon:

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Here's how easy it is to create a dashboard with
Stacks data on Ortege Studio:

• Check out our Stacks Nakamoto Dashboard
• Sign Up

Upcoming Events

• Bitcoin Builders:
  • Location: Nashville, Tennessee
  • Venue: Acme Feed & Seed
  • Dates: July 25-26‍
  • Tickets

‍Closing Thoughts‍

This week's market movements underscore a challenging climate as fear takes a firmer hold, highlighted by significant outflows and a downturn in Bitcoin's price. However, emerging partnerships and innovations across the blockchain space offer a glimpse into the resilience and continued evolution of the ecosystem. For those keen to stay connected and further engage with the crypto community, join our new Telegram group where live discussions, updates, and insights are shared. Engage directly with the Ortege community, receive updates, and access exclusive content that could enhance your navigation through these volatile times.

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