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Happy Monday, Zingernation! Bitcoin has finally bounced (a bit) on Monday and here’s why it’s up today.

Today, we cover what traders expect from Bitcoin in Q3 this year, what is going on with this Bitcoin miner stock and more.

MARKET SNAPSHOT

TOP STORY

What Do Traders Expect From Bitcoin In Q3?

Briefly: Bitcoin has started the month well with a rebound above $62,000. But what are traders expecting going forward?

So Basically: This rebound is either a really poor bearish retest or an insufficient rebound above support, said one prominent trader.

So Then: The market is still in no man’s land and can’t seem to make up its mind. One trader compared the price action to that of Q3 2023.

So What: Bitcoin spot ETFs rebounded with inflows of $70 million on Friday. If that continues, Bitcoin could continue its rally back to $70,000.

Read the entire scoop here.

FIVE ZINGERS

Up: Bitcoin is finally rebounding from the $60,000 supply zone and went as high as $63,000 on Monday morning. Why is BTC up today?

Dump It: Mt. Gox redistributions have been hanging like a cloud over the Bitcoin price. $9 billion could hit the market, but will it be really that bad?

Yuge: The Trump memecoin has suffered from a strong downtrend over recent week and is down more than 60% from its ATH. What is going on?

Burning: Shiba Inu’s burn rate shot up massively last night, leading also to more transactions on its Shibarium layer-2. Will price shot up soon as well?

If Only: If only you had invested in Bitcoin two years ago instead of Dell shares, would you have made a good or a bad decision?

FINTECH FOCUS

What's Going On With Shares Of Bitcoin Miner Bitfarms Today?

Briefly: Bitfarms shares are up as the company on Monday provided a production and operations update for June.

What Happened: It said it mined 189 bitcoin last month compared to 156 bitcoin in May as a result of increasing corporate hashrate during the month.

What Else: The chief mining officer said Bitfarms continue to make progress on fleet upgrades and new facility constructions.

Why It Matters: Bitfarms shares may also be getting a lift from a rise in the price of bitcoin, which is up 2% on Monday.

Read the full scoop here.

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