Bitcoin: This is what traders can expect after BTC’s slow and steady comeback

AmbcryptoPublished on 2022-07-10Last updated on 2022-07-10

Abstract

Bitcoin has managed to show some optimism among traders in the recent days. It is on track to record its largest weekly gain in the last nine weeks. This news comes after BTC’s worst quarterly performance that ended in June. Key metrics are further nudging Bitcoin in the right direction after stabilizing around $21,550.

Bitcoin [BTC] has managed to show some optimism among traders in the recent days. The king crypto is on track to record its largest weekly gain in the last nine weeks. This news comes after BTC’s worst quarterly performance that ended in June. Key metrics are further nudging Bitcoin in the right direction after stabilizing around $21,550.

Alas, it’s happening!

Bitcoin is again at the center of attention in the crypto community. But this time, it is only for the right reasons as the master cryptocurrency stages a comeback early into July. BTC is currently trading at just above $21,550 as per CoinMarketCap. It is looking to hold its fort down around this zone despite a relative dip of 1.2% in the past day. Nonetheless, BTC has been able to shoot up to 12.2% over the past week.

One major reason for the bull activity is the accumulation by Bitcoin sharks (holdings between 10 BTC- 100 BTC). As Santiment observed, the sharks have revamped their accumulation over a five-week trend. During this period, the BTC value dropped by 27% during which the sharks added 52k BTC to their ranks. Their holdings now stand at 4.29 BTC in lieu of the latest trends.

Source: Santiment

The Bitcoin Fear and Greed Index is also running at a two-month high after shooting up to 20. This is another bullish indicator for Bitcoin.

In another Santiment tweet, it was found that traders’ attempt to short BTC failed spectacularly. The tweet reads out, “Average exchange funding rates suddenly dropped off a cliff nine hours ago, and short liquidations were plentiful.” The prices rebounded to $21,800 but later stabilized to current levels. This is another key factor signaling the strength of the network.

Source: Santiment

Old trends go short!

It is not common for Bitcoin to be bullish without whale activity but it becoming a full-fledged trend as per latest data. The recent surge to $22,527 on 6 July was down to positive sentiment on the market without the blessing of the whales. This also acts as a strong indication for a recovering Bitcoin. Additionally, MicroStrategy CEO, Michael Saylor commented on the recent surge in the king coin in a recent tweet.

Related Reads

CLARITY Act: Banking Trade Groups Push For Yield Agreement Revision – Details

US banking trade groups are urging revisions to the stablecoin yield compromise in the upcoming CLARITY Act ahead of a key committee markup. The Act currently aims to ban all passive, deposit-like interest on stablecoins to prevent competition with traditional bank savings, while allowing rewards tied to active uses like staking or transactions. In a letter, groups including the American Banking Association and Bank Policy Institute proposed stricter language to eliminate perceived loopholes for passive yield and prevent deposit flight from banks. However, these efforts are reportedly viewed as minor by some lawmakers. The Senate Banking Committee is scheduled to mark up the bill on May 14, a critical step before it can advance through Congress.

bitcoinist10h ago

CLARITY Act: Banking Trade Groups Push For Yield Agreement Revision – Details

bitcoinist10h ago

This Finance CEO Picks Solana Instead Of Bitcoin — Here’s Why

Finance CEO Raoul Pal prefers Solana over Bitcoin, citing its high throughput and low transaction costs as better suited for the future crypto-AI era. He believes Solana is ideal for machine-to-machine microtransactions and AI-driven DeFi activity, predicting AI agents will soon dominate DeFi users. While Bitcoin serves as a store of value, Pal sees higher growth in networks built for mass, automated transactions. This view was highlighted at Consensus 2026, where AI integration and crypto infrastructure were key themes.

bitcoinist10h ago

This Finance CEO Picks Solana Instead Of Bitcoin — Here’s Why

bitcoinist10h ago

Gensyn AI: Don't Let AI Repeat the Mistakes of the Internet

In recent months, the rapid growth of the AI industry has attracted significant talent from the crypto sector. A persistent question among researchers intersecting both fields is whether blockchain can become a foundational part of AI infrastructure. While many previous AI and Crypto projects focused on application layers (like AI Agents, on-chain reasoning, data markets, and compute rentals), few achieved viable commercial models. Gensyn differentiates itself by targeting the most critical and expensive layer of AI: model training. Gensyn aims to organize globally distributed GPU resources into an open AI training network. Developers can submit training tasks, nodes provide computational power, and the network verifies results while distributing incentives. The core issue addressed is not decentralization for its own sake, but the increasing centralization of compute power among tech giants. In the era of large models, access to GPUs (like the H100) has become a decisive bottleneck, dictating the pace of AI development. Major AI companies are heavily dependent on large cloud providers for compute resources. Gensyn's approach is significant for several reasons: 1) It operates at the core infrastructure layer (model training), the most resource-intensive and technically demanding part of the AI value chain. 2) It proposes a more open, collaborative model for compute, potentially increasing resource utilization by dynamically pooling idle GPUs, similar to early cloud computing logic. 3) Its technical moat lies in solving complex challenges like verifying training results, ensuring node honesty, and maintaining reliability in a distributed environment—making it more of a deep-tech infrastructure company. 4) It targets a validated, high-growth market with genuine demand, rather than pursuing blockchain integration without purpose. Ultimately, the boundaries between Crypto and AI are blurring. AI requires global resource coordination, incentive mechanisms, and collaborative systems—areas where crypto-native solutions excel. Gensyn represents a step toward making advanced training capabilities more accessible and collaborative, moving beyond a niche controlled by a few giants. If successful, it could evolve into a fundamental piece of AI infrastructure, where the most enduring value in the AI era is often created.

marsbit11h ago

Gensyn AI: Don't Let AI Repeat the Mistakes of the Internet

marsbit11h ago

Why is China's AI Developing So Fast? The Answer Lies Inside the Labs

A US researcher's visit to China's top AI labs reveals distinct cultural and organizational factors driving China's rapid AI development. While talent, data, and compute are similar to the West, Chinese labs excel through a pragmatic, execution-focused culture: less emphasis on individual stardom and conceptual debate, and more on teamwork, engineering optimization, and mastering the full tech stack. A key advantage is the integration of young students and researchers who approach model-building with fresh perspectives and low ego, prioritizing collective progress over personal credit. This contrasts with the US culture of self-promotion and "star scientist" narratives. Chinese labs also exhibit a strong "build, don't buy" mentality, preferring to develop core capabilities—like data pipelines and environments—in-house rather than relying on external services. The ecosystem feels more collaborative than tribal, with mutual respect among labs. While government support exists, its scale is unclear, and technical decisions appear driven by labs, not state mandates. Chinese companies across sectors, from platforms to consumer tech, are building their own foundational models to control their tech destiny, reflecting a broader cultural drive for technological sovereignty. Demand for AI is emerging, with spending patterns potentially mirroring cloud infrastructure more than traditional SaaS. Despite challenges like a less mature data industry and GPU shortages, Chinese labs are propelled by vast talent, rapid iteration, and deep integration with the open-source community. The competition is evolving beyond a pure model race into a contest of organizational execution, developer ecosystems, and industrial pragmatism.

marsbit13h ago

Why is China's AI Developing So Fast? The Answer Lies Inside the Labs

marsbit13h ago

3 Years, 5 Times: The Rebirth of a Century-Old Glass Factory

Corning, a 175-year-old glass company, is experiencing a dramatic revival as a key player in AI infrastructure, driven by surging demand for high-performance optical fiber in data centers. AI data centers require vastly more fiber than traditional ones—5 to 10 times as much per rack—to handle high-speed data transmission between GPUs. This structural demand shift, coupled with supply constraints from the lengthy expansion cycle for fiber preforms, has created a significant supply-demand gap. Nvidia has invested in Corning, along with Lumentum and Coherent, in a $4.5 billion total commitment to secure the optical supply chain for AI. Corning's competitive edge lies in its expertise in producing ultra-low-loss, high-density, and bend-resistant specialty fiber, which is critical for 800G+ and future 1.6T data rates. Its deep involvement in co-packaged optics (CPO) with partners like Nvidia further solidifies its position. While not the largest fiber manufacturer globally, Corning's revenue from enterprise/data center clients now exceeds 40% of its optical communications sales, and it has secured multi-year supply agreements with major hyperscalers including Meta and Nvidia. Financially, Corning's optical communications revenue has surged, doubling from $1.3 billion in 2023 to over $3 billion in 2025. Its stock price has risen nearly 6-fold since late 2023. Key future catalysts include the rollout of Nvidia's CPO products and the scale of undisclosed customer agreements. However, risks include high current valuations and potential disruption from next-generation technologies like hollow-core fiber. The company's long-term bet on light over electricity, maintained even through the telecom bubble crash, is now being validated by the AI boom.

marsbit13h ago

3 Years, 5 Times: The Rebirth of a Century-Old Glass Factory

marsbit13h ago

Trading

Spot
Futures
活动图片

Hot Categoriesright-arrow

Hot Tagsright-arrow