Bitcoin has been on a steady rise for a few days now, and the ship appears to be steadying — but for how long? Some analysts expect another decline into the low $40,000 range as traders hedge against it, while others point toward a spike in CEX inflows and hodler buying. Elsewhere, the SOL/ETH ratio hits a new all-time high amid the chaos, crypto PACs are throwing money at the upcoming US presidential election, and nearly every new token Binance has listed in 2024 is deep in the red — but why?

Further reading:

• Bitcoin needs ‘low $40,000s’ for best bull market entry — 10x Research
• Bitcoin volatility hits 20-month high, traders hedge against further slump
• Binance saw $1.2B of inflows in one of biggest trading days of 2024, says CEO
• ‘Something is happening’ — Bitcoin hodlers scooped $23B in the past 30 days
• Saylor says BTC strategic reserve is ‘Louisiana Purchase’ moment for US
• SOL/ETH ratio hits new all-time high amid market turmoil
• Crypto PACs invest $4M in candidates ahead of Aug. 6 primaries
• Nearly every token Binance listed in 2024 is now bleeding red — Coin98

So, grab yourself a coffee, and let’s get into it!

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