Tesla Sold 75% of BTC Holdings, Crypto Market Reclaims $1T, Ethereum Merge 90% Complete: This Week's Recap

The past seven days were very eventful, and, fortunately, the week ended up in green. The total cryptocurrency market capitalization reclaimed the coveted $1 trillion level and is currently sitting at $1.1 trillion. This comes on the back of considerable increases across the entire market.

Starting with Bitcoin, the cryptocurrency is up 14% in seven days. At the time of this writing, BTC trades at around $23,500, up 4.5% daily. This time last week, it was sitting at $21K, and it was mostly up only from then on. The weekly high was charted on Wednesday when the price soared above $24K. However, during this quarter’s earnings report, Tesla revealed that it sold “approximately 75% of its Bitcoin purchases into fiat currency.” Inevitably, this shook the market, and the price tumbled to $22K. Interestingly enough, the dump was somewhat contained, given the magnitude of the news, which further strengthens the prevailing narrative that the ongoing recovery rally might continue.

Elsewhere, during this year’s edition of EthCC – an Ethereum-oriented conference held in Paris – Vitalik Buterin revealed that the job on the Ethereum 2.0 merge is “90% complete.” This will effectively end the Proof of Work era of the protocol and see it transition to Proof of Stake – a move that will considerably decrease its emittance rate and the supply hitting the market.

The rest of the market is also painted green. Binance Coin is up 13.2%, ADA – 13.5%, SOL – 15.6%, DOT – 14.6, SHIB – 14.3%, MATIC – 25%, and so forth.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:It’s interesting to see how the next week will shape up as the Fed’s July meeting is scheduled for the 26th and the 27th, and they’re expected to announce yet another rate hike to curb inflation.

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Bitcoin, Ethereum Technical Analysis: BTC Falls, as Tesla Sells 75% of Its Holdings – Market Updates Bitcoin NewsBitcoin was trading lower in today’s session, as it was revealed that Tesla had sold 75% of its holdings in the cryptocurrency. Limited time offer! 👉 MATICSHOW46 Hold everyone, HOLD‼️‼️‼️‼️‼️ Time to sell bitcoin dinosaur 🦖
Source: BTCTN - 🏆 531. / 51 Read more »

Tesla sold 75 percent of its BitcoinThe automaker reports a 32 percent drop in profit since Q1 Elon sold back in Q2. Weak hands selling now on the news. We are in Q3, wake up lads 😁✌ i think they knew something we don't know , otherwise, they would never sell low, something terrible is gonna happen soon to bitcoin. or he shorted with 100x So they took profit when the market was crashing? Would we see them accumulate in coming months?
Source: verge - 🏆 94. / 67 Read more »

Tesla Sold 75% of its Bitcoin Worth $936 Million By Investing.com*TESLA SOLD 75% OF ITS BITCOIN WORTH $936 MILLION - $TSLA $BTC -1k. 1h later: +1k Buy high sell low! When? That’s why BTc crashed
Source: Investingcom - 🏆 450. / 53 Read more »

Breaking: Tesla sold 75% of Bitcoin holdings in Q2Tesla was once one of the largest corporate holders of Bitcoin. Now, its 'digital asset' reserves stand at just $218 million. Bitcoin saved Tesla Thanks you veryy much_, Shock!
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin recovers after falling on news Tesla sold 75% of its holdingsBitcoin rebounded after a brief sell-off late on Wednesday sparked by news that electric carmaker Tesla Inc had sold about 75% of its holdings of the virtual token.
Source: Reuters - 🏆 2. / 97 Read more »

Tesla Has Dumped 75% of Its Bitcoin Holdings a Year After Touting ‘Long-Term Potential'Tesla CEO Elon Musk spent much of 2021 hyping cryptocurrencies. His company has exited most of its bitcoin holdings amid a dramatic downfall. Misleading title
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »