Daily on-chain briefing | July 24

Market Overview:

Bitcoin has strongly broken through the $1.18 million mark, backed by continuous institutional buying and favorable macroeconomic conditions. Tesla earned $284 million in the second quarter due to its Bitcoin holdings, and the integration of traditional finance with digital assets is deepening. Meanwhile, BNB is also not to be outdone, breaking through the historic high of $800, showing its increasingly solid position in the ecosystem.

Market sentiment:

- Bullish: 41.08%
- Neutral: 45.45%
- Bearish: 13.47%

The Fear and Greed Index is at 70, indicating that the market is leaning towards greed, with overall sentiment being positive.

As of July 24, the price of Bitcoin is approximately $118,846, with a slight decrease of 0.38% over 24 hours. Ethereum has dropped by 2.74% in 24 hours, priced at $3,642.

Today's News:

1. Bitcoin breaks through the $118,000 mark!
- Institutional accumulation drives prices to a new high
- Macroeconomic inflation pressures prompt investors to turn to Bitcoin as a safe haven
- Saylor and Pompliano and other big shots continue to be bullish

2. Tesla's Bitcoin holdings bring in $284 million in profit!
- Net profit for the second quarter reached 1.2 billion USD
- The new accounting rules allow for quarterly adjustments of digital asset valuations based on market value.
- Core business revenue declined, and digital asset earnings became the highlight.

3. BNB hits a new all-time high, breaking $809!
- Market capitalization surpasses Solana, strong institutional demand
- The activity level of the BNB Chain ecosystem has increased.
- Over the past five years, the Sharpe ratio has reached 2.5, making it a representative of blue-chip coins.

Choose the right track and run alongside for the long term.

No matter how the market fluctuates, remember to stay rational, manage your risks well, and don't let emotions dictate your investment decisions.

Wishing you successful trading, and always remember to DYOR!