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Bitcoin Holders: "Wild Behavior"

A recent study links cryptocurrency ownership to various psychological and behavioral traits, suggesting that crypto investors may display higher levels of certain personality disorders.

• Main Points:

  • Psychological Traits: Higher levels of narcissism, Machiavellianism, psychopathy, and sadism.

  • Conspiracism: Increased belief in conspiracy theories.

  • Political Views: Mixed political allegiances, with some support for extremist groups.

  • Media Consumption: Preference for alternative news sources over mainstream media.

  • Behavior: More argumentative and politically engaged.

• Detailed Insights:

  • Psychological Traits: Cryptocurrency investors show higher levels of narcissism, Machiavellianism, psychopathy, and sadism, indicating a propensity for nonnormative personality traits.

  • Conspiracism: Owners are more likely to believe in conspiracy theories and display lower levels of analytic and scientific thinking.

  • Political Views: Crypto investors exhibit a mixture of left- and right-wing political views, with a notable increase in populist sentiments and support for extremist groups.

  • Media Consumption: These individuals prefer alternative social media platforms like Telegram and Reddit for news, shunning mainstream media.

  • Behavior: Investors in cryptocurrencies are more argumentative, anti-authoritarian, and actively engage in political activities, including protests and contacting officials.

Related: JPMorgan Issues Dire Warning for Bitcoin Bulls

The study paints a complex picture of cryptocurrency investors, suggesting they are characterized by higher levels of certain personality disorders and a preference for alternative news sources. Despite the negative connotations, the research highlights the diverse and often unconventional nature of the crypto community.

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Bitcoin Sellers Target Keeping BTC Under $60K

Bitcoin sellers are trying to cap BTC’s price below $60,000 as bullish momentum builds.

• Main Points:

  • Price Action: BTC neared $60,000 on July 10, hitting $59,459.

  • RSI Rebound: The relative strength index shows a classic rebound.

  • Key Levels: $58,400 and $59,000 are crucial for bulls.

  • Resistance: Liquidity and resistance are concentrated around $60,000.

  • Macro Data Impact: Upcoming U.S. economic data could influence BTC’s performance.

• Detailed Insights:

  • Price Action: Bitcoin closed in on $60,000, hitting a high of $59,459. It rose 1.5%, bouncing from oversold conditions.

  • RSI Rebound: Analysts noted the RSI's rebound from its lowest levels in 10 months. Daan Crypto Trades highlighted bullish divergences, while Rekt Capital confirmed the RSI divergence was “playing out.”

  • Key Levels: Traders identified $58,400 and $59,000 as critical levels. Justin Bennett suggested reclaiming $58,400 could lead to a retest of $60,000-$60,700.

  • Resistance: Data from CoinGlass showed building liquidity at $60,000. Bitcoin is challenging a 1.5-month downtrend and battling for the 99-day and 200-day moving averages.

  • Macro Data Impact: U.S. economic indicators, such as the Consumer Price Index and Producer Price Index, are crucial for determining Bitcoin's next move.

Related: Michael Saylor's Cryptic Bitcoin Message During Germany's BTC Selloff

US Bitcoin ETFs Attract $294.9M in Two Days

U.S. spot Bitcoin ETFs saw significant inflows for the second consecutive day, totaling $294.9 million.

• Main Points:

  • Blackrock’s IBIT Leads: Dominated with $187.21 million in inflows.

  • Other ETFs: Fidelity’s FBTC and Grayscale’s GBTC also saw substantial investments.

  • Market Confidence: Increasing investor confidence in Bitcoin ETFs.

• Detailed Insights:

  • Blackrock’s IBIT Leads: On Monday, U.S. spot Bitcoin ETFs accumulated $294.9 million in inflows, with Blackrock’s Bitcoin Trust (IBIT) attracting $187.21 million, bringing its reserves to 310,470.32 BTC, valued at $17.83 billion.

  • Other ETFs: Fidelity’s FBTC garnered $61.54 million, Grayscale’s GBTC secured $25.08 million, Bitwise’s BITB drew in $11.05 million, Ark Invest’s ARKB collected $8.44 million, and Vaneck’s HODL acquired $1.59 million. No inflows or outflows were recorded for BTCO, BRRR, DEFI, EZBC, and BTCW.

  • Market Confidence: The continued inflows highlight growing investor confidence in Bitcoin (BTC) despite recent market downturns. The competitive landscape is evolving, with Blackrock leading and significant investments in other ETFs.

Related: Bitcoin ‘Power Law’ Forecasts 300% Gains by 2025

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results