Some Implication of this inverse correlation means that when the dollar rises, #BTC falls and vice versa. The chart below showing the year-to-date performances of #DXY (blue line) and BTC (orange line) underscores this relationship a step further.

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The 1d-3m Bitcoin Realized Cap HODL Waves has increased from the cycle low of 11.5%, to a current value of 21.4%, an 86% increase.
This suggests that the transfer of wealth from experienced holders to newer demand is occurring, a phenomenon common across cycle inflection points.

#Bitcoin #BTC #OnChain

Why Hollywood Really Fears Generative AI

Hollywood actors and writers unions are negotiating with major studios to address concerns about the impact of AI on the industry. The use of deepfake technology and AI-generated content has raised concerns about the potential loss of income for actors and writers due to unregulated AI use. The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) is seeking a contract that protects members from losing income and ensures informed consent for certain AI uses. Writers, however, cannot rely on publicity rights in the same way and may struggle to seek compensation if their work is used by AI. The upcoming negotiations between actors' unions and studios will focus on economic fairness and maintaining a middle-class lifestyle for guild members. AI could be Hollywood's next strategy to produce more content with fewer humans, potentially leading to union strikes.

#Culture #CultureMovies #CultureTV #CultureDigitalCulture #Wired #TechNews #News

According to data from the on-chain analytics firm #Glassnode, the #cryptocurrency has seen cumulative fees of just 53,800 BTC since the last halving.

Source: buff.ly/42fOHqE

Deposits via bank transfer were halted on May 18th, and withdrawals were allowed only until June 1st. This pushed the discount of the #BTC-AUD #pair down by 9000 AUD (a 22% discount) on May 28th.

Source: https://buff.ly/43ixuOt

#Crypto #exchange volumes continue to fall, according to The Block's Data Dashboard.

Drawn from The Block Research's Legitimate Volume Index, May saw exchanges post $307.4 billion in volume — a decline of 23.2% from April.

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The so-called annualized #volatility of #bitcoin, which tracks the standard deviation of the last 30 days of daily percentage change in price, is currently resting around 32%, according to The Block Research.

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#Bitcoin mining revenue reached $916.6 million in May, a 13.7% month-over-month increase.

According to The #Block's Data Dashboard, that figure includes more than $120 million in transaction fees.

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The realized price for the 1–3 month age band is $27,200.

This level might be regarded as BTC's short-term support. Historically, whenever Bitcoin has gained momentum below this indicator, the price has dropped significantly.

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#Ripple #XRP Investors Become #Bullish Again

As XRP price rallied by nearly 24% in the last few weeks, it brought back the dissipating interest from users whose activity spiked on-chain recently.

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#DeFi’s total market value saw a #bullish increase this past week.

Data from Cointelegraph and TradingView show that DeFi’s top 100 tokens by market capitalization had a bullish week, with most tokens trading in the green.

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The current #NUPL value of 0.29 is at the lower bound of the equilibrium phase, which is a zone where 37.5% of all #Bitcoin trading days have been.

This zone was reached in early March 2023, and persisted for around 16 months in the last two cycles.

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#Bitcoin’s price finished May down 7%, data from monitoring resource CoinGlass shows — something of an average performance for a highly varied month.

The largest cryptocurrency is 5.5% lower in Q2, contrasting Q1 gains of over 70%.

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The expiration of #Bitcoin #options in May has been a significant event for traders in the cryptocurrency market.

It represented the maturity of 26% of the open interest in #Deribit, which is equivalent to 2.3 billion dollars.

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Total public debt will undoubtedly rise, as will the amount of interest payments being made by the U.S.

The spread between 2- and 10-year Treasury yields remains negative, as short-term debt rates remain higher than longer-term debt.

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The June 1 #debt-ceiling deadline emerged recently as the obvious candidate for a binary volatility event. And for good reason: A default would send shockwaves through markets worldwide. #bitcoin

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#Spot volumes across the major digital asset sectors also paint a similar picture. #crypto

Along with subdued #volatility and #liquidity, spot volumes have also compressed to under $20B, from falling from $40B billion at the start of the year.

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#Ethereum Dominates #NFT Market with 60% Share, #Bitcoin NFT Sales Capture 17% of Weekly Sales Volume, according to Cryptoslam.

The NFT sales for this week saw a 39.35% growth from last week, amounting to $202.22 million in global sales.

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#Bitcoin miner fees stay elevated, boosting daily revenue to $1.8M, accordingt to #cryptoslate.

Uncovering the impact of Ordinals and BRC-20 tokens on Bitcoin miner fees and revenue growth.

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Over the last month there has been a significant increase in the number of #Bitcoin ATMs around the world.

There are currently more than 35,000 in operation, according to the most recent Coin ATM Radar records.

In total, the number of ATMs is 35,069 , an amount that reflects a new peak after being below 34,000 since last March.

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