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Ahmed Barakat
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Markets opened Q3 on a steady note, Bitcoin flat at $59K, Ethereum showing strength at what could be a bottom, and MiCA fully implemented with almost no fireworks. Cryptocurrencies were bracing themselves to face liquidity issues with MiCA coming into effect, especially with Binance among others easing liquidity.
The expected moves have been clear for months. Bitcoin and Ethereum price price The changes were already rolled in, so the actual zero day passed uneventfully.
On the other side of the world, Trump’s latest financial deposit has declined. It has shown over $1.4 billion in cryptocurrency earnings in the past year, with exposure to Bitcoin at a healthy amount. This likely sends a signal that he won’t be moving away from this space anytime soon.
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Bitcoin price maintains its position
Although Bitcoin After the price took a hit from a record sell-off in ETFs with $4.51 billion in outflows last month, or the worst since their launch, it found support and did not fall. Profit-taking and money-rolling in AI stocks are some of the reasons held responsible for the recent declines.
As of today, ETF assets total more than $70 billion, so the selloff looks more like a pause than a collapse. It’s not a good day for spot holders when U.S.-traded bitcoin ETFs saw net outflows of $4.51 billion in June. However, it looks more like a temporary adjustment than a deeper decline.
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Ethereum price remains calm, MiCA Zero day passes quietly
Ethereum price traded flat at $1,570-$1,590, with no major fluctuations even as MiCA rules closed today. The Ethereum Foundation also deposited another 4,938 ETH worth nearly $8 million into Lido. It shows that they are comfortable putting more capital into the hedging system when Europe tightens its policies and the foundational rebalancing process continues.
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Ethereum price has been on a roll with the full rules of MiCA in effect. Unlicensed exchanges like Binance have now stopped serving EU users or have shut down, with many smaller operators withdrawing or already relocating. Furthermore, UK investors have filed a $200 million lawsuit against Binance and CZ over unauthorized derivatives sold to retail traders.
The MiCA shift and the legal noise caused by Binance did not affect the market much. Liquidity concerns are less than expected, as Trump’s big cryptocurrency gains and the Ethereum Foundation’s new Lido stake suggest some are still bullish. Big players are still putting their money into the business rather than running for the exits.
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