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Crypto News

Bitcoin Surges Above $119,000. Analyst Predicts Bitcoin May Hit $130K if $110K Support Holds

Bitcoin rebounded and broke through $119,000, with a 24-hour percentage change of 0.86%.

Analysts are confident that Bitcoin is on a bullish breakout. They cite a potential uprise towards $130,000, provided it maintains a key support. In addition, subdued capital inflows imply that the rally can still gain further momentum before hitting a cycle where investor sentiment becomes overly optimistic. This cycle is known as the euphoria zone.

SharpLink taps BlackRock digital assets pioneer Joseph Chalom as co-CEO

SharpLink Gaming Friday announced the appointment of former BlackRock (NYSE:BLK) senior executive Joseph Chalom as its new Co-Chief Executive Officer, effective July 24.

Chalom joins SharpLink after two decades at BlackRock, where he led digital finance initiatives, including the launch of the iShares Ethereum Trust, now the largest Ethereum ETF with over $10 billion in assets.

Rob Phythian, SharpLink’s current CEO, will transition to the role of President over the next quarter and remain a member of the company’s Board of Directors.

Michael Saylor Signals Further Bitcoin Purchases For Strategy

Strategy Executive Chairman Michael Saylor has posted the company’s portfolio tracker, revealing the amount of Bitcoins held on its balance sheets. Saylor shared the portfolio tracker via an X post, disclosing that the company holds 607,770 BTC with a valuation of $71.8 billion at current prices.

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Friday was $130.69 million. The total net asset value of Bitcoin spot ETFs is $151.45 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.54%.

The Bitcoin spot ETF with the highest net inflow on July 25 was iShares Bitcoin Trust ETF , with a net inflow of $92.83 million. Following that was ARK 21Shares Bitcoin ETF , with a net inflow of 30.27 million, according to SoSoValue.