The crypto market experienced a rebound over the weekend, with the **CoinDesk 20 Index (CD20)** climbing over 4% since Friday midnight UTC. **Bitcoin (BTC)** surged to **$63,500** from its Friday dip below $60,000 but stalled and dipped below **$63,000** at the start of the U.S. trading session.  Despite **July historically being a positive month for BTC**, 10x Research predicts a potential lull in the coming months, as the third quarter is typically weaker for digital assets.  **Metaplanet**, a Japanese investment advisor, continued its **bitcoin accumulation strategy** by buying another **$1.2 million in BTC**, increasing its treasury holdings to **161 BTC**.  **Sony** plans to revive its **Japanese crypto exchange Whalefin**, launching a new app.  This marks the tech giant's entry into the crypto market after previous Web3 investments and partnerships.  The growing interest in holding crypto as a reserve asset has prompted **Abra**, a digital asset prime services provider, to introduce a **treasury service for corporates**.

The latest price moves in bitcoin (BTC) and crypto markets in context for July 1, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

MarketsFirst Mover Americas: Bitcoin Relief Rally Stalls at $63K as Crypto Rebound Faces HurdlesThe latest price moves in crypto markets in context for July 1, 2024.By Krisztian Sandor, Omkar GodboleJul 1, 2024 at 12:36 p.m. UTCShare on FacebookShare on LinkedInShare on XBitcoin price on July 1 (CoinDesk)Share on FacebookShare on LinkedInShare on XThis article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.Latest PricesTop StoriesDigital asset markets rebounded over the weekend, with the broad market benchmark CoinDesk 20 Index (CD20) climbing more than 4% since Friday midnight UTC. Bitcoin bounced to $63,500 from its Friday dip below $60,000 before faltering and slipping below $63,000 toward the start of the U.S. trading session. July tends to be a positive month for BTC, 10x Research wrote in a Monday update, but any lull over coming months will probably continue as the third quarter is usually the weakest for digital assets.Metaplanet bought another $1.2 million in BTC as its investment strategy progressed. The Japanese investment adviser boosted its bitcoin treasury holdings to 161 BTC worth more than $10 million at current prices. The purchase was part of the company's bitcoin accumulation plan following last week's announcement it planned to acquire $6 million of the largest crypto asset, mirroring the U.S.-listed MicroStrategy's footsteps as a public company issuing bonds to raise funds and acquire bitcoin. The growing popularity of this strategy prompted digital asset prime services provider Abra to introduce a treasury service for corporates that want to hold crypto on their balance sheets as a reserve asset.Sony plans to restart Japanese crypto exchange Whalefin. According to a PR Times report, Sony will revive the exchange "soon," releasing a new app. The tech giant acquired Whalefin last year from embattled crypto lender and asset manager Amber Group. Previously, Sony dabbled in Web3 through investments and partnerships, and the launch will mark the PlayStation maker's proper foray into crypto.Chart of the Day(Bitcoinmonthlyreturn.com)The table shows bitcoin's monthly price performance since 2013.July has generally been a positive month for bitcoin, with prices gaining eight times out of 12 and declining four times.Source: Bitcoinmonthlyreturns.com.- Omkar GodboleTrending PostsPrime Broker Hidden Road Adds Major Crypto Exchanges, Expands Use of BlackRock’s BUIDL TokenMarine Le Pen's Far-Right National Rally Party Leads in First Round of French ElectionMarket Confidence Could Quickly Crumble, BIS Warns Indebted NationsDisclosurePlease note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.Krisztian SandorKrisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.Follow @sndr_krisztian on TwitterOmkar GodboleOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.Follow @godbole17 on TwitterRead more aboutBitcoinEtherFirst Mover

First Mover Americas: Bitcoin Relief Rally Stalls at $63K as Crypto Rebound Faces Hurdles

Bitcoin's Relief Rally Stalls, Facing Hurdles Despite a Positive July Trend

## Bitcoin's Critical Turning Point

Bitcoin is currently at a **critical juncture** following the Federal Reserve's recent interest rate cut. The price has surged above **$65,000**, setting the stage for a potential rally towards new highs. Market sentiment is becoming increasingly **optimistic**, with many anticipating a significant Bitcoin rally in the near future.

![Bitcoin Surge](https://bitcoinist.com/wp-content/uploads/2024/10/btc_a975b1.jpeg?resize=980%2C551)

## New Investors Driving Demand

Recent data from **CryptoQuant** indicates that **new investors** are returning to the market, contributing to a positive outlook. Historically, periods of accumulation by new investors often precede major price increases, adding excitement to Bitcoin's potential trajectory.

Bitcoin has seen a **12% increase**, rising from **$58,800** to **$65,600**, which has reignited positive sentiment across the cryptocurrency landscape. Analysts are hopeful that this momentum can be sustained, potentially leading to further gains.

## Price Dynamics and Key Levels

Currently, Bitcoin is testing local highs at **$66,500**, with strong support above the **200-day moving average (MA)** at **$63,336**. For a confirmed rally towards new highs, breaking above the **$66,500** resistance is crucial. If Bitcoin fails to do so, a retracement may occur, with key demand levels around **$62,000** and potential deeper corrections to **$59,000**.

![BTC Price Dynamics](https://bitcoinist.com/wp-content/uploads/2024/10/BTCUSD_2024-10-15_07-01-02.png?resize=980%2C616)

The return of new investors indicates a growing interest in Bitcoin, which could create a supply-demand imbalance, driving prices higher. As new capital flows into the market, the outlook for Bitcoin remains positive, with many eagerly watching for the next move.

*Image source: Dall-E, chart from TradingView*

Bitcoin surges 5% as new investors enter market. Key resistance at $66,500. Investors cautious amid broader market volatility. BTC rally soon?

Bitcoin's Bullish Surge: New Investors Fuel Optimism as Price Nears Key Resistance

### John Deaton's Critique of Elizabeth Warren's Crypto Bill

John Deaton has publicly criticized **Elizabeth Warren's** proposed crypto legislation, arguing that it disproportionately favors banks at the expense of individual crypto holders. He emphasizes that **Bitcoin** represents a revolutionary tool that can help individuals avoid the **predatory fees** associated with traditional banking systems.

### Key Takeaways
- Deaton believes that **Bitcoin** can eliminate the need for **predatory banks** and allow those without access to traditional banking services to participate in the financial system.
- He argues that Warren's policies are misaligned with the needs of the working class, favoring established financial institutions instead.

Deaton shared his personal experiences, recalling how his mother struggled with traditional banks, particularly **high-fee check-cashing stores**. He stated, **“When Bitcoin came along, I thought, ‘Great, now you can cut out predatory banks and middlemen, and you can help unbanked people like my mom.”**

He also criticized Warren's **Digital Asset Anti-Money Laundering Act**, which proposes stringent regulations on digital assets, claiming it disregards the interests of individual investors, especially those from lower socioeconomic backgrounds. Deaton pointed out that the bill bans **crypto self-custody**, while allowing banks to control Bitcoin, highlighting that **Warren’s policies do not help poor people**.

In responding to accusations about his ties to the crypto industry, Deaton defended himself by stating that he has made enemies in the industry by exposing wrongdoings, indicating his commitment to **transparency**. He also mentioned his involvement in the **Ripple case**, which has garnered significant attention.

Deaton is running for the US Senate against Warren, advocating for the interests of everyday Americans and consistently opposing her anti-crypto stance.

John Deaton criticizes Senator Elizabeth Warren's crypto bill for favoring banks over individual crypto holders, impacting the unbanked.

John Deaton: How Bitcoin Can Empower the Unbanked and Challenge Traditional Banking

### Missouri's Cryptocurrency Fraud: A Shocking Report

In **2023**, an **annual FBI report** on cryptocurrency fraud revealed that it was the **busiest year** yet for this emerging technology. The report highlighted that over **69,000 complaints** were filed, resulting in a staggering **$5.6 billion** in losses reported to the FBI’s Internet Crime Complaint Center.

#### Missouri's Heavy Losses

Missouri alone suffered a loss of **$55,022,745** due to **838 scams**. The data shows that the **most common targets** of these scams were individuals over the age of **60**, with those aged **50-59** following closely behind.

#### Types of Cryptocurrency Fraud

Cryptocurrency fraud manifests in various forms, primarily:
- **Investment fraud**
- **Breaches of personal data**
- **Tech support fraud**
- **Confidence schemes**

#### Expert Recommendations

**J. Scott Christianson**, Director of the University of Missouri’s Center for Entrepreneurship and Innovation, warns consumers to be **suspicious** of payment demands that seem **urgent or time-sensitive**, especially if they involve **digital currency**. He emphasizes that no legitimate business or government entity will ask for such payments in this manner.

#### FBI's Advice to Avoid Scams

The **FBI** offers several tips to help consumers avoid falling victim to cryptocurrency scams:
- **Criminals thrive on urgency and isolation.**
- If you receive an unsolicited call from someone claiming to represent a well-known company, **hang up** and verify independently.
- No legitimate authority will demand payment through a cryptocurrency kiosk.
- Never disclose personal information without verifying the identity of the requester.
- Always validate investment opportunities offered by unknown contacts on social media, especially if you haven’t met them in person.
- Be cautious of websites that mimic legitimate financial institutions.
- Avoid downloading suspicious apps for investing unless their legitimacy is confirmed.
- If an investment opportunity seems **too good to be true**, it probably is.
- Remember that investment involves risk; seek advice from a licensed financial adviser if uncertain.

Stay informed and vigilant to protect yourself from potential scams in the evolving landscape of cryptocurrency.

An annual FBI report on cryptocurrency fraud found that 2023 was the busiest year yet for the growing technology.

Missouri's $55 Million Cryptocurrency Fraud Crisis: What You Need to Know

### Salvadorans and Bitcoin: A Disconnect

Salvadorans may appreciate **President Nayib Bukele** for his efforts in improving the country's security, but a **new survey** reveals that the enthusiasm for **Bitcoin** is not reflected in actual usage. 

According to a recent report from **San Salvador University Francisco Gavidia**, only **7.5%** of respondents use cryptocurrency for transactions, while a staggering **92%** do not. Despite **El Salvador** making Bitcoin legal tender in **2021**, many citizens remain hesitant to adopt the digital currency for everyday purchases.

### Bukele's Bitcoin Push

President Bukele, known for his aggressive promotion of Bitcoin, has faced criticism from both **U.S. politicians** and the **International Monetary Fund** for his policies. The survey indicated that merely **1.3%** of participants believe Bitcoin should be the country’s primary financial strategy moving forward. 

In an effort to attract foreign investment, Bukele has proposed initiatives such as **Bitcoin City** and has offered enticing incentives like visas for investors. However, public sentiment remains mixed, with **58%** of those surveyed believing the nation is on the right track and showing general support for Bukele’s leadership. 

### The Reality of Bitcoin Adoption

In a recent interview, Bukele himself acknowledged that the **adoption of Bitcoin** has not met expectations, stating, “**Bitcoin hasn’t had the widespread adoption we hoped for**.” 

El Salvador, once notorious for its violence, has seen a crackdown on crime under Bukele’s administration, which has garnered praise from citizens but raised concerns among human rights advocates regarding **prisoner treatment** and **police conduct**. 

Despite the president's popularity, the disconnect between his Bitcoin initiative and public usage reveals a significant challenge in his economic strategy.

A new University report shows that not many people are using the orange coin to buy things in El Salvador.

Disillusionment in El Salvador: Why Bitcoin Isn't Gaining Traction Despite Popular Support for Bukele

## Google’s Nuclear Initiative

Google is making headlines with its latest **partnership** with Kairos Power to construct **seven small nuclear reactors** in the U.S., marking a significant step in the tech giant's quest for sustainable energy sources to power its **AI initiatives**. This groundbreaking agreement is the **first of its kind**, and it underscores Google's commitment to a **carbon-free energy future**.

### Powering the Future

The initial reactor is projected to be operational by **2030**, with the remaining reactors expected to be deployed by **2035**. Collectively, these reactors will provide approximately **500 megawatts of power**, enough to energize a **midsize city**. As stated in a recent blog post by Google, "**Nuclear solutions offer a clean, round-the-clock power source** that can help us reliably meet electricity demands with carbon-free energy every hour of every day."

### Innovative Reactor Design

Unlike traditional nuclear power plants, the reactors developed by Kairos Power utilize a **molten salt cooling system**, which operates at lower pressures, promising enhanced safety and efficiency. The company has also initiated the construction of a **demonstration reactor** in Tennessee.

### Cost and Project Details

While Google has not disclosed the financial specifics of the partnership, the project aims to address the increasing **energy demands** posed by expanding data centers. Recent studies indicate a surge in power needs, with projections showing a potential growth of **38 gigawatts**, sufficient to power **12.7 million homes**.

### Broader Context

This announcement comes on the heels of Microsoft's collaboration with Constellation Energy, which plans to restart operations at the **Three Mile Island** reactor to support its AI data centers. These developments highlight a growing trend among tech companies to seek **nuclear energy** as a viable solution to their power requirements, amidst concerns about the strain on the U.S. power grid.

![Nuclear Power](https://example.com/nuclear-power-image.jpg)

They’ll be used to power its AI initiatives.

Google's Bold Move: Building Seven Nuclear Reactors for AI Power

All three major indexes (^DJI, ^GSPC, ^IXIC) **closed lower** on Tuesday. Yahoo Finance markets and data editor **Jared Blikre** joins **Josh Lipton** on *Asking for a Trend* to break down his key takeaways from the trading day.

### Financial Sector Leads the Market
The **financial sector** (XLF) leads the market so far this month compared to all other S&P 500 sectors as **Big Banks** report third quarter earnings.

### Oil Prices Diverge from Expectations
**Oil prices** (CL=F, BZ=F) are diverging from inflation expectations amid **macroeconomic uncertainty**.

### Bitcoin's Potential Breakout
**Bitcoin** (BTC-USD) shows signs of **breaking out** as it hovers around **$67,000**. This significant movement raises questions about its future trajectory in the current market context.

To watch more expert insights and analysis on the latest market action, check out more *Asking for a Trend* [here](https://finance.yahoo.com/videos/series/asking-for-a-trend/).  
*This post was written by Naomi Buchanan.*

All three major indexes (^DJI,^GSPC, ^IXIC) closed lower on Tuesday. Yahoo Finance markets and data editor Jared Blikre joins Josh Lipton on Asking for a Trend to break down his key takeaways from the trading day. The financial sector (XLF) leads the market so far this month compared to all other S&P 500 sectors as Big Banks report third quarter earnings. Oil prices (CL=F, BZ=F) diverge from inflation expectations amid macroeconomic uncertainty. Bitcoin (BTC-USD) shows signs of breaking out as it hovers around $67,000. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Naomi Buchanan.

Bitcoin's Price Surge: Key Market Insights from Recent Trading Trends

### Tesla's Bitcoin Movement

**Tesla**, the electric car company led by **Elon Musk**, has made headlines by transferring nearly all of its **Bitcoin** holdings after a **two-year period of inactivity**. On Tuesday, wallets associated with Tesla moved approximately **$765 million** worth of Bitcoin to unknown wallets. Notably, only about **$6** remained in the original wallets. These new wallets are not linked to any known **crypto exchanges**, leading to speculation that Tesla is not planning to sell its Bitcoin.

### Background on Tesla's Bitcoin Holdings

In **2020**, Tesla revealed it had acquired **$1.5 billion** in Bitcoin but sold about **10%** of its holdings in Q1 2021. Subsequently, in **July 2022**, the company sold approximately **75%** of its remaining Bitcoin as the price had dropped significantly from its all-time high of **$69,000** in **November 2021**, to around **$24,000** at the time of the sale. However, the value of Tesla's remaining Bitcoin has surged, with the current price hovering around **$66,500**.

### Tesla's Mixed Relationship with Bitcoin

Tesla's relationship with Bitcoin has been complex. In **2021**, the company announced it would accept Bitcoin as payment for vehicles but quickly reversed this decision, citing the **environmental impact** of Bitcoin mining. Musk has expressed interest in resuming Bitcoin payments if a majority of mining operations switch to **green energy** sources, but that has yet to materialize.

### Conclusion

The movement of Tesla's Bitcoin raises questions about the company's future strategies regarding cryptocurrency, especially considering Musk's previous comments and the current market dynamics.

Tesla has moved the bulk of its Bitcoin to new wallets, though there's no immediate suggestion that Elon Musk's car company is selling.

Bitcoin's Relief Rally Stalls, Facing Hurdles Despite a Positive July Trend

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Other Latest News

Bitcoin's Bullish Surge: New Investors Fuel Optimism as Price Nears Key Resistance

John Deaton: How Bitcoin Can Empower the Unbanked and Challenge Traditional Banking

Missouri's $55 Million Cryptocurrency Fraud Crisis: What You Need to Know

Disillusionment in El Salvador: Why Bitcoin Isn't Gaining Traction Despite Popular Support for Bukele

Google's Bold Move: Building Seven Nuclear Reactors for AI Power

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Bitcoin's Bullish Surge: New Investors Fuel Optimism as Price Nears Key Resistance

John Deaton: How Bitcoin Can Empower the Unbanked and Challenge Traditional Banking

Missouri's $55 Million Cryptocurrency Fraud Crisis: What You Need to Know

Disillusionment in El Salvador: Why Bitcoin Isn't Gaining Traction Despite Popular Support for Bukele

Google's Bold Move: Building Seven Nuclear Reactors for AI Power

Bitcoin's Price Surge: Key Market Insights from Recent Trading Trends

Tesla Moves $765 Million in Bitcoin: What Does It Mean for the Future?