Bitcoin Price Stays Above $30.5K During Weekend Trading Session

• Bitcoin’s price fluctuated between $30,347 and $30,750 during the weekend trading session.
• The SEC blocked applications from entities such as BlackRock and Fidelity Investments due to lack of “adequately detailed or exhaustive” information.
• On July 3, Bitcoin ATM provider Bitcoin Depot will list on the Nasdaq as the first crypto ATM operator to do so.

Record-breaking Texas Power Demand Amid Largest Bitcoin Hash Rate Drawdown of 2023

Bitcoin miners‘ aggregate balances continued to grow despite recent flows to exchanges, indicating a potential bull run with 79% of Bitcoin’s circulating supply in profit. Second-largest exchange balance drop of 2023 and record-breaking Texas power demand further bolstered this prediction.

SEC Blocks Applications from Entities Such As BlackRock and Fidelity Investments

The SEC put forward applications on behalf of entities such as BlackRock and Fidelity Investments but found them lacking “adequately detailed or exhaustive” information. This prevented them from pinpointing the Bitcoin exchange that would participate in a Surveillance Sharing Agreement (SSA) with Nasdaq and Cboe, as stipulated by SEC regulations to help thwart fraud and manipulation in underlying asset markets.

Bitcoin Remains Steady Above $30.5K During Weekend Trading Session

During the weekend trading session, Bitcoin traded steadily above $30.5k with 24-hour liquidations almost split between longs ($32.7M liquidated) and shorts ($34.2M liquidated). This was despite news from Wall Street Journal that the SEC would block spot bitcoin ETFs again temporarily causing prices to dip below $30k last week.

Bitcoin Depot Listing on Nasdaq on July 3

Tomorrow, on July 3, Bitcoin ATM provider Bitcoin Depot plans to list on the Nasdaq becoming the first crypto ATM operator to do so on this exchange platform. In June, its correlation with the Nasdaq dropped to 3%, according to Kasparas Asmonavicius‘ analysis which examined data since 2017 against traditional stocks like Apple Inc., Microsoft Corporation, Amazon Inc., Facebook Inc., Tesla Inc., Intel Corporation etc..


Overall these developments suggest that there are positive indications for a potential bull run for Bitcoin as we move into Q3 2021 with 79% of its circulating supply already in profits; second-largest exchange balance drop; record-breaking Texas power demands; steady prices above $30k during weekend trading sessions; increasing miner balances even when there is an outflow towards exchanges; and now listing at Nasdaq by one of its providers – all these point towards an optimistic outlook for cryptocurrency markets in general ahead!