Bitcoin Drops 3% on First Day of Second Half... Soros Fund Begins Bitcoin Trading

[Asia Economy New York=Correspondent Baek Jong-min] The cryptocurrency market showed a downward trend on the first trading day of the second half of the year as selling pressure increased.

[Image source=Reuters Yonhap News]

According to CoinMarketCap on the 1st (local time), the price of Bitcoin is trading in the $33,000 range, down 3.56% compared to 24 hours ago. Ethereum is trading in the $2,100 range, down 5%. Dogecoin is down 2.8%, moving around 24 cents.

CoinDesk reported that Bitcoin faced selling pressure in the first trade of the second half and predicted that the $30,000 support level would be tested again.

However, CoinDesk expected that volatility in the second half would be lower compared to the first half. The Bitcoin hash rate, which had declined for 10 consecutive days recently, has stabilized, easing concerns about China's mining regulations to some extent.

It was explained that the hash rate recovered as mining companies moved out of China to other countries such as Kazakhstan.

Investment media Benzinga reported that the famous hedge fund firm Soros Asset Management engaged in Bitcoin trading on this day. It also reported that Soros Asset Management is pursuing acquisitions of blockchain-related companies.

SkyBridge Capital, a hedge fund operated by former White House spokesperson Anthony Scaramucci, is reportedly planning to submit a listing application for an Ethereum ETF to the U.S. Securities and Exchange Commission (SEC), following its Bitcoin ETF.

This content was produced with the assistance of AI translation services.