Record 57,000 BTC Taken Off Exchanges In a Day – July 29

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $39,907

Bitcoin price continues to range around the $40,000 mark, in a show of strength as it maintains prices following its recent jump.

Top-20 altcoins are waning a little, with Ethereum dropping a little over 1%, XRP falling 4% and Cardano falling 3%.

Top Stories for July 29, 2021 πŸ”₯

πŸ‘‰ Record 57,000 BTC Taken Off Exchanges In a Day

Data by Bybt and CryptoQuant shows that a new record of 57,000 Bitcoins has been taken off exchanges today – the largest net outflow of Bitcoin from exchanges in over a year.

Following the withdrawals, balances across tracked exchanges has dropped to levels that haven’t been seen since May, near the cryptocurrency’s all-time highs.

πŸ‘‰ White House Says It Will Pay For Infrastructure Bill With Crypto Tax

The White House has claimed that an US Senate infrastructure bill will be paid for, in part, by greater tax enforcement on cryptocurrency.

Figure estimates on a fact sheet for the notion state that the bill would raise $28 billion from increased reporting from exchanges and brokerages, however there was no time-frame given.

πŸ‘‰ Federal Reserve Maintains Near-Zero Rates, Says Inflation Is “Transitory”

The US Federal Reserve has announced that it will keep interest rates at near zero, along with asset purchases worth $120 billion each month.

Chairman Jerome Powell has communicated that inflation is currently well above the 2% target, but the state is “transitory” and will not continue indefinitely.