Trump Still Scheduled To Speak at BTC Conference!

State of the Market: The Trump Pump, Crypto Market Reacts to Black Swan Event 🦢💥

After the heinous attack on former U.S. President and presidential candidate Donald Trump last Saturday, the cryptocurrency market saw an unexpected pump. Bitcoin's price surged to a 10-day high of $60.4K, marking a weekend gain of over 5%. This rise hints at a potential bear trap scenario, where Bitcoin bulls may capitalize on late sellers below critical bull market trendlines. 🐻🚫

Black Swan Event Turns into Crypto Swan Lake. The assassination attempt on Donald Trump is being described as a "true black swan event," unusually leading to gains in the cryptocurrency market. Bitcoin, in particular, soared above $60,000. This response is atypical, as black swan events generally trigger market downturns. It's like the market said, "Trump drama? Let's moon instead!" 🌙✨

Memecoin Madness: Trump Edition. Following this despicable act against Donald Trump, a memecoin themed after him spiked by 52%. This incident also influenced Trump’s election odds on prediction markets and other Trump-themed memecoins. The surge occurred after the event at a rally in Butler, Pennsylvania. Who knew political chaos could be so profitable? Just ask Wall Street Guys! 🤑💥

Trump's Commitment to Crypto: Not Missing a Beat. Despite this sensitive situation, Donald Trump remains committed to his scheduled appearance at the upcoming Bitcoin Conference in Nashville later this year. Talk about dedication – nothing stops this guy, not even an assassination attempt! 🎙️💼

German Bitcoin Sell Off Concludes: Auf Wiedersehen, BTC! The German government's Bitcoin selloff appears to have concluded as its crypto wallet balance reached zero on Friday. This marks the end of its planned disposal of 50,000 bitcoins, initially seized from the defunct film piracy site Movie2K. Arkham Intelligence has been monitoring these transactions. Looks like they’ve finally emptied the piggy bank! 🐖🏦

ETF Inflows and Whale Activity: HODL on Tight! The 11 spot Bitcoin ETFs in the U.S. reported $79 million in net inflows on Thursday, marking the fifth consecutive day of positive inflows. Leading the charge was BlackRock’s IBIT, with $72 million. Overall, Bitcoin whales have aggressively accumulated over 71,000 BTC in just one week!These whales are making a splash! 🌊🐳

Chart of the Day: Bitcoin Goes Green 🌿

https://x.com/QuintenFrancois/status/1811320929365934555 

Elon Musk's remarks about Bitcoin's environmental footprint have driven the crypto industry to clean up its act. With Bitcoin's sustainable energy use now at an impressive 55.8%, it's outpacing most industries. Let's break it down:

Elon Musk's Condition 🌍🚗
Elon Musk had previously voiced concerns about Bitcoin's hefty energy consumption and declared that Tesla would only resume Bitcoin transactions if the mining process became more eco-friendly.

Bitcoin's Progress 📈🔋
Recent data reveals that Bitcoin mining operations are now powered by over 55.8% renewable energy. This shift aligns with Musk's earlier stipulations and hints at a potential policy reversal for Tesla, though nothing official has been announced yet.

Most Important News of the Day.

Market Sentiments and Investor Confidence. Bitcoin futures term structure is flashing bullish signals, showing that investors are brimming with confidence in Bitcoin's potential for sustained growth. 📈 Meanwhile, Bitcoin ETFs are enjoying significant inflows, with BlackRock's IBIT leading the pack, underscoring a robust interest in crypto investment products. 🤑

Corporate Movements and Asset Management. Genesis Trading has transferred $720 million worth of Bitcoin to Coinbase, hinting at the start of asset liquidations following a legal settlement with New York state. 🏦

Economic Indicators and Market Dynamics. Coinbase has voiced concerns about macroeconomic factors that might dampen the momentum for the anticipated rate cuts, highlighting the intricate dance between market sentiments and broader economic conditions. 🌍

Regulatory Developments and New Product Launches. Final regulatory approval for spot Ether ETFs is expected any day now, with potential listings as soon as next week. Additionally, DWS has confirmed plans to launch the first regulated euro-backed stablecoin by 2025, catering to early interest from crypto investors and anticipating broader market demand. 💶

Investment and Funding Rounds. Partior has raised $60 million to boost its blockchain-based payment network, led by Peak XV Partners, with a focus on real-time clearing and settlement systems. Meanwhile, Morgan Creek Digital is looking to raise up to $500 million for a new Web3 venture capital fund, aiming at early-stage opportunities in AI, blockchain technology, chips, and data. 🧠

Legal and Regulatory Landscapes. The Ripple case against the SEC has hit its one-year mark since the landmark ruling, continuing to shape the regulatory framework for cryptocurrencies. 🔍

Our Daily Pick: Bittensor, A Step into Decentralized AI 🌐🤖

Bittensor uses blockchain to create a collaborative network for training machine learning models. This network accelerates AI innovation and democratizes access to AI technologies. Users contribute AI models, access collective intelligence for various tasks, and monetize their contributions. It’s like the AI version of a farmers' market, but cooler. 🏪🌽

Who’s Behind It? 🧑‍💻👩‍💻

Jacob Steeves and Ala Shaabana: These tech wizards, with expertise in computer science and AI research, are the masterminds behind Bittensor.

Tokenomics 🪙📊

• TAO Token: The native cryptocurrency of the platform, TAO, incentivizes participation. Users earn TAO by contributing valuable AI models and training data. 

• Circulating Supply: Currently, 7,070,678 TAO are in circulation. 

• Maximum Supply: Fixed at 21,000,000 TAO, much like Bitcoin, to encourage long-term participation. 

• Market Cap: Around $1.9 billion, making it one of the top 50 cryptocurrencies as of July 15, 2024. 🚀

Bittensor’s Superpowers and Problem Solved 🦸‍♂️🦸‍♀️

• Democratizes AI: Makes AI development more accessible to a broader audience. 

• Faster Innovation: Collaborative training speeds up AI advancements.

• Trustworthy Marketplace: Blockchain ensures a secure and transparent platform.

• Equitable Rewards: Rewards users based on the value of their contributions, promoting fairness.

Core Concepts 🧩

• Decentralized Network: No single entity controls the network, fostering innovation without permission. 

• Tokenized Incentives: TAO incentivizes participation and rewards valuable contributions. 

• Open-Source Protocol: Anyone can contribute to the codebase, enhancing security and innovation.

Use Cases 💼

• AI Model Training and Development: Collaboratively train and develop machine learning models. 

• Accessing Collective Intelligence: Utilize the network for tasks like data analysis or predictions. 

• Monetizing AI Expertise: Sell AI models and expertise in a peer-to-peer market.

Final Thoughts 🧠💭

Bittensor presents an exciting vision for a more open and collaborative AI future. By leveraging blockchain technology and tokenized incentives, it aims to revolutionize how AI is developed and utilized. However, the project needs further development and transparency regarding its funding and launch timeline to paint a more complete picture. Keep an eye on this one – it could be a game-changer! 🚀🌟