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Bitcoin News Roundup for June 24, 2020
With miners transferring more bitcoin now compared to any point in the last year, police misconduct on Ethereum and a new inter-blockchain hub out of China, Markets Daily is back with another news roundup.
Updated Dec 6, 2022, 6:28 p.m. Published Jun 24, 2020, 4:00 p.m.
With miners transferring more bitcoin now compared to any point in the last year, police misconduct on Ethereum and a new inter-blockchain hub out of China, Markets Daily is back with another news roundup.
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Miners Are Sending Bitcoins to Exchanges Again – and That May Be Bearish
A sudden spike in miner outflows of bitcoin to exchanges makes the cryptocurrency vulnerable to a price drop, according one analyst.
Activists Document Police Misconduct Using Decentralized Protocol:
Built on the InterPlanetary File System and the Ethereum blockchain, the protocol lets anyone file police misconduct reports anonymously.
How Chainlink and Cosmos Fit Into China's Grand Blockchain Initiative
Chainlink will help the state-backed Blockchain-Based Service Network with oracles, and Cosmos-powered Irisnet will assist with interoperability.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Traders mull the bottom as bitcoin returns to week's lows below $86,000
One analyst isn't quite ready to call a bottom, but says bitcoin is surely in an oversold condition.
What to know:
- Bitcoin's early rally Wednesday seems a faint memory as the price has returned to the week's lows.
- Precious metals continue to get bid, with silver rushing to yet another new record and gold closing in on an all-time high.
- One analyst cautioned against reading too much into the current bitcoin price action due to year-end positioning and tax considerations.
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