😡 Decide Already

Bitcoin goes down, then up, then down. Plus, big news for MSTR.

Author

Sebastian Soran
July 11, 2024

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Happy Thursday, Zingernation! The Ethereum ETFs are around the corner but analysts can’t make up their mind if they are bullish because of “zero hype.”

Today, we cover why Bitcoin has been so volatile on Thursday, MicroStrategy announcing a stock split and more.

Plus, our partner reveals the number one AI crypto pick for 2024.

MARKET SNAPSHOT

TOP STORY

Briefly: Bitcoin spiked in early Thursday trading on positive macroeconomic data and strong ETF inflows before falling back below $58,000.

So Basically: U.S. inflation turned negative in June, with the Consumer Price Index (CPI) reporting a negative 0.1% rate for June.

So Then: Following the CPI report, Bitcoin’s price surged to $59,100 but has since retraced its entire upside move to trade around $57,800.

So What: The decline in the CPI marks the third consecutive inflation rate decline, a trend not observed since May 2023.

TOGETHER WITH CRYPTOREVOLUTION

AI Crypto Power Rank: Top Pick for 10x Potential

The AI revolution is just getting started. Experts predict one overlooked crypto project could be the key to unlocking the $15.7T AI industry. Early investors have a rare chance to position for 10x, 30x, or even 50x gains as this trend takes off.

FIVE ZINGERS

Divided: Is an Ethereum “supply shock” incoming or does the “zero hype” around ETH ETFs mean they will flop?

Financial Suicide: Some people swear by Teslas but not so the Dogecoin millionaire. He questioned whether not buying one is “financial suicide.”

Volatile: Bitcoin options traders think volatility is returning to Bitcoin. Macro data is one of their arguments but there are more…

Bull Case: ETH could well hit $5,000 in 2024 thinks an influential trader. But he cautions it won’t be easy and he has good arguments as to why.

Rich Dad: Bitcoin bull Robert Kiyosaki is sticking by his guns and still thinks $350,000 for Bitcoin is coming soon…

TOGETHER WITH CRYPTOREVOLUTION

The AI revolution is just getting started. Experts predict one overlooked crypto project could be the key to unlocking the $15.7T AI industry. Early investors have a rare chance to position for 10x, 30x, or even 50x gains as this trend takes off.

FINTECH FOCUS

Briefly: MicroStrategy on Thursday announced a 10-for-1 stock split, signaling a potential shift in its market strategy and accessibility to investors.

What Happened: It will take effect on Aug. 1, with trading on a split-adjusted basis expected to commence on Aug. 8.

What Else: The move aims to make MicroStrategy’s shares more accessible to both investors and employees and could broaden its shareholder base.

Why It Matters: The announcement has already made waves in the market, with MicroStrategy’s share price jumping 6.4% in pre-market trading to $1,389.

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