Hakan Ateşler 
In the cryptocurrency world, the Mt. Gox-related massive selling pressure continues. Following yesterday’s test transfers, the exchange’s bankruptcy administration moved more than $2.7 billion worth of Bitcoin in multiple consecutive transfers overnight.
Bitcoin, which started July with a rise and exceeded $63,000 on Monday, turned its direction down again. The decline came after a whale moved more than $100 million worth of Bitcoin to the Binance exchange in the last 24 hours. Mt. Gox sales may be another reason behind the decline.
Matthew Sigel, a director at VanEck, which filed for a Solana spot ETF in the US last week, said that he thinks the funds will be accepted, but only if the SEC chairman changes. Sigel also said that the lack of a regulated futures market for Solana in the world would not be a disadvantage and that VanEck could easily secure the ETF.
QCP and Coinbase, which stand out with their analysis on cryptocurrencies, expect a rise in Bitcoin in July. Analysts from the two companies said that while July was “generally” positive for Bitcoin, they think that Bitcoin-Ether spot and futures volumes, which fell in May and June, will start to increase.
Analysts at British giant Standard Chartered, which has published several positive reports on cryptocurrencies in the past, believe that the US elections will play an important role in the price movement. According to the bank’s latest report, Bitcoin may rise further with the increasing likelihood of Donald Trump winning the election, and may even break a record in August. It was stated that Biden’s withdrawal from the election race could bring a sharp decline in Bitcoin.
While Turkey enacted the cryptocurrency regulations it has been talking about for a long time and officially put them into effect last night, a very important statement came from the Binance exchange in the afternoon hours today. The exchange said it welcomed the regulations in Turkey and announced some changes for Turkish users.
Following the publication of Turkey’s cryptocurrency law in the Government Gazette, the Binance exchange issued an important statement and announced some updates to its operations in the country. The exchange stated that Binance.com will continue to be accessible from Turkey, while the Turkish language option (for Binance.com users) will be gradually closed over time.
The German government continues its Bitcoin sales, which started recently. More than 800 BTC were released from the wallet belonging to the German government today. Some of the Bitcoins were again transferred to Kraken, Bitstamp and Coinbase exchanges.
Raoul Pal, a former Goldman Sachs executive, said he expects large amounts of liquidity to enter global markets in the coming period, which he thinks will trigger a rise in risky assets such as cryptocurrencies.
Paxos, the crypto company known for its stablecoins, has received the necessary approvals from the central bank in Singapore, the world’s most difficult country to obtain a license and perhaps the country with the toughest regulations. The company will now be able to issue stablecoins in Singapore through its subsidiary in the country. Paxos has also partnered with DBS bank, one of the largest in Asia, on related issues.