Bitcoin Mining Reaches 92.5% Completion, Only 7.5% Left to Mine.

In a significant milestone for the world’s most popular cryptocurrency, Bitcoin, it has been officially confirmed that 92.5% of all available coins have been successfully mined. With just 7.5% remaining, the mining process is rapidly approaching its completion. This achievement marks an important moment in Bitcoin’s history, as the finite supply of 21 million coins is gradually becoming a reality.

Wicked, a crypto enthusiast, shared a Twitter  post providing insights on the exciting announcement from BTC:  

In other news, financial markets eagerly await the upcoming economic data releases and central bank meetings. On July 12, the Consumer Price Index (CPI) data will be unveiled, providing crucial insights into inflation trends. The following day, on July 13, the Producer Price Index (PPI) data will be released, shedding light on wholesale price changes in the economy.

CoinGecko, a crypto data aggregator, shared a Twitter post providing insights concerning BTC: 

Later in the month, on July 26, the Federal Open Market Committee (FOMC) will convene to discuss monetary policy and its potential economic impact. Market participants will closely monitor any indications of policy shifts, as these decisions can have far-reaching consequences for various asset classes.

Furthermore, on July 27, attention will turn to the Gross Domestic Product (GDP) report, which provides a comprehensive overview of a country’s economic performance. This eagerly anticipated report will offer valuable insights into the economy’s growth trajectory and overall health.

Simultaneously, on July 27, the European Central Bank (ECB) will convene its own meeting. During this gathering, officials will analyze the current economic landscape and may announce fresh measures to support the financial stability of the eurozone.

As these events unfold, investors and analysts will closely monitor the outcomes, as they can significantly influence market sentiments and asset valuations. The global economy continues to navigate a complex landscape, and market participants will rely on these key data points and central bank decisions to inform their strategies and decision-making.

The price of BTC has significantly decreased recently, according to the latest price analysis report. The BTC coin is trading around $30,071, falling noticeably by  0.66% during the previous 24 hours. Today’s BTC token opened at $30,203, and the value has declined since then. The token has been hovering around $30k, which strong rejection at $30,400. It is expected that the token will remain bearish in the short term and might test its support around $29k or even lower levels.

The market cap plummeted to around $584 billion, with a strong loss of 1.23%, indicating that the bears have taken over the market. However, the trading volume has increased to $8.80 billion, indicating some bullish sentiment in the market, and if buyers can overcome the resistance, we could see a surge in the price. The Circulating Supply of BTC has been relatively steady at 19,425,456 BTC.

The Bollinger Bands indicate that the market’s volatility is likewise quite low and that trading ranges are reasonably small. The market volatility may remain moderate for some time as the upper Bollinger Band is currently at $30,413, and the lower Bollinger Band is at $30,031. The Average Directional Index (DMI) also shows a bearish trend in the market. The +DI line crosses below the -DI line, and the ADX is below 20 at 11.35.