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Researchers leverage shadows to model 3D scenes, including objects blocked from view – MIT News

Imagine driving through a tunnel in an autonomous vehicle, but unbeknownst to you, a crash has stopped traffic up ahead. Normally, youd need to rely on the car in front of you to know you should start braking. But what if your vehicle could see around the car ahead and apply the brakes even sooner?

Researchers from MIT and Meta have developed a computer vision technique that could someday enable an autonomous vehicle to do just that.

They have introduced a method that creates physically accurate, 3D models of an entire scene, including areas blocked from view, using images from a single camera position. Their technique uses shadows to determine what lies in obstructed portions of the scene.

They call their approach PlatoNeRF, based on Platos allegory of the cave, a passage from the Greek philosophers Republicin which prisoners chained in a cave discern the reality of the outside world based on shadows cast on the cave wall.

By combining lidar (light detection and ranging) technology with machine learning, PlatoNeRF can generate more accurate reconstructions of 3D geometry than some existing AI techniques. Additionally, PlatoNeRF is better at smoothly reconstructing scenes where shadows are hard to see, such as those with high ambient light or dark backgrounds.

In addition to improving the safety of autonomous vehicles, PlatoNeRF could make AR/VR headsets more efficient by enabling a user to model the geometry of a room without the need to walk around taking measurements. It could also help warehouse robots find items in cluttered environments faster.

Our key idea was taking these two things that have been done in different disciplines before and pulling them together multibounce lidar and machine learning. It turns out that when you bring these two together, that is when you find a lot of new opportunities to explore and get the best of both worlds, says Tzofi Klinghoffer, an MIT graduate student in media arts and sciences, research assistant in the Camera Culture Group of the MIT Media Lab, and lead author of a paper on PlatoNeRF.

Klinghoffer wrote the paper with his advisor, Ramesh Raskar, associate professor of media arts and sciences and leader of the Camera Culture Group at MIT; senior author Rakesh Ranjan, a director of AI research at Meta Reality Labs; as well as Siddharth Somasundaram, a research assistant in the Camera Culture Group, and Xiaoyu Xiang, Yuchen Fan, and Christian Richardt at Meta. The research will be presented at the Conference on Computer Vision and Pattern Recognition.

Shedding light on the problem

Reconstructing a full 3D scene from one camera viewpoint is a complex problem.

Some machine-learning approaches employ generative AI models that try to guess what lies in the occluded regions, but these models can hallucinate objects that arent really there. Other approaches attempt to infer the shapes of hidden objects using shadows in a color image, but these methods can struggle when shadows are hard to see.

For PlatoNeRF, the MIT researchers built off these approaches using a new sensing modality called single-photon lidar. Lidars map a 3D scene by emitting pulses of light and measuring the time it takes that light to bounce back to the sensor. Because single-photon lidars can detect individual photons, they provide higher-resolution data.

The researchers use a single-photon lidar to illuminate a target point in the scene. Some light bounces off that point and returns directly to the sensor. However, most of the light scatters and bounces off other objects before returning to the sensor. PlatoNeRF relies on these second bounces of light.

By calculating how long it takes light to bounce twice and then return to the lidar sensor, PlatoNeRF captures additional information about the scene, including depth. The second bounce of light also contains information about shadows.

The system traces the secondary rays of light those that bounce off the target point to other points in the scene to determine which points lie in shadow (due to an absence of light). Based on the location of these shadows, PlatoNeRF can infer the geometry of hidden objects.

The lidar sequentially illuminates 16 points, capturing multiple images that are used to reconstruct the entire 3D scene.

Every time we illuminate a point in the scene, we are creating new shadows. Because we have all these different illumination sources, we have a lot of light rays shooting around, so we are carving out the region that is occluded and lies beyond the visible eye, Klinghoffer says.

A winning combination

Key to PlatoNeRF is the combination of multibounce lidar with a special type of machine-learning model known as a neural radiance field (NeRF). A NeRF encodes the geometry of a scene into the weights of a neural network, which gives the model a strong ability to interpolate, or estimate, novel views of a scene.

This ability to interpolate also leads to highly accurate scene reconstructions when combined with multibounce lidar, Klinghoffer says.

The biggest challenge was figuring out how to combine these two things. We really had to think about the physics of how light is transporting with multibounce lidar and how to model that with machine learning, he says.

They compared PlatoNeRF to two common alternative methods, one that only uses lidar and the other that only uses a NeRF with a color image.

They found that their method was able to outperform both techniques, especially when the lidar sensor had lower resolution. This would make their approach more practical to deploy in the real world, where lower resolution sensors are common in commercial devices.

About 15 years ago, our group invented the first camera to see around corners, that works by exploiting multiple bounces of light, or echoes of light. Those techniques used special lasers and sensors, and used three bounces of light. Since then, lidar technology has become more mainstream, that led to our research on cameras that can see through fog. This new work uses only two bounces of light, which means the signal to noise ratio is very high, and 3D reconstruction quality is impressive, Raskar says.

In the future, the researchers want to try tracking more than two bounces of light to see how that could improve scene reconstructions. In addition, they are interested in applying more deep learning techniques and combining PlatoNeRF with color image measurements to capture texture information.

While camera images of shadows have long been studied as a means to 3D reconstruction, this work revisits the problem in the context of lidar, demonstrating significant improvements in the accuracy of reconstructed hidden geometry. The work shows how clever algorithms can enable extraordinary capabilities when combined with ordinary sensors including the lidar systems that many of us now carry in our pocket, says David Lindell, an assistant professor in the Department of Computer Science at the University of Toronto, who was not involved with this work.

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Advanced modeling of housing locations in the city of Tehran using machine learning and data mining techniques … – Nature.com

To conduct research and determine the research strategy, theoretical-applied implications of grounded theory, choice theory, evaluation, random utility, and content analysis methods were adopted. Each of these perspectives and approaches directly impacted the description and analysis of this research. Data derived from five data science-related libraries in Python programming (Online, 2022a, 2022b, 2022c, 2022d, 2022e, 2022f, 2022g, 2022h, 2022i, 2022j, 2022k, 2022l, 2022m, 2022n, 2022o) format were utilized as a reference for data discovery and optimization. Although this method seems simple, using this method for this research has helped to measure, model, and present the findings better.

The following five models were also employed for the measurement and modeling:

Lasso regression: It is a type of linear regression that draws on shrinkage. Shrinkage describes where data values are shrunk towards a central point data (e.g., mean). This model best suits data that follow multiple alignments (Online, 2022a, 2022b, 2022c, 2022d, 2022e, 2022f, 2022g, 2022h, 2022i, 2022j, 2022k, 2022l, 2022m, 2022n, 2022o).

Kernel regression: The basis of this statistical model is a non-parametric method for estimating the conditional expectation of a random variable, and its mission is to identify a nonlinear relationship between the two variables x and y (Online, 2022a, 2022b, 2022c, 2022d, 2022e, 2022f, 2022g, 2022h, 2022i, 2022j, 2022k, 2022l, 2022m, 2022n, 2022o).

Elastic net: It is a regulated model that linearly integrates the L1 and L2penalties of the lasso and ridge methods (Online, 2022a, 2022b, 2022c, 2022d, 2022e, 2022f, 2022g, 2022h, 2022i, 2022j, 2022k, 2022l, 2022m, 2022n, 2022o).

Gradient boosting regressor: A machine learning method that draws on the results of weaker models (e.g., decision trees) to improve learning outcomes (Online, 2022a, 2022b, 2022c, 2022d, 2022e, 2022f, 2022g, 2022h, 2022i, 2022j, 2022k, 2022l, 2022m, 2022n, 2022o).

XGB Regressor: A more powerful version of Gradient boosting regressor (Online, 2022a, 2022b, 2022c, 2022d, 2022e, 2022f, 2022g, 2022h, 2022i, 2022j, 2022k, 2022l, 2022m, 2022n, 2022o).

This is an exploratory study that adopts a descriptive-analytical perspective. The research sampling is also theoretical. That is a purposive sampling method in which the researcher tries to perform data mining and explore the phenomenon by drawing on the knowledge and opinions of the subjects (Kopai, 2015). Purposive sampling was also used to collect data, mainly extracted from the official sources and statistics (Online, 2022a, 2022b, 2022c, 2022d, 2022e, 2022f, 2022g, 2022h, 2022i, 2022j, 2022k, 2022l, 2022m, 2022n, 2022o). Also, the research data was derived from a systematic review of documents and techniques over 2 years. Data analysis was conducted based on the grounded theory and coding to discover priority variables in housing locations. Also, to convert nominal data to numerical data (the column related to the neighborhood), the One Hot Encoding method and Python programming language as content and data mining were used. Converting nominal data to numerical one is a requirement for learning models. The rationale for using data mining is to expand the size of existing and future data. Although data mining, like other techniques, could only be conducted with human intervention, it enables analysis, who may need to be more expert in statistics or programming, to manage the knowledge extraction process effectively (Wickramasinghe, 2005). The study population consisted of 18,000 samples of villas and apartments selected. After extracting and deleting duplicate data, data distribution on the map of Tehran was determined and data analysis was carried out in 3 steps. First, after validation, 8,000 data from 22 districts and 317 neighborhoods of Tehran were selected and evaluated in terms of 9 variables of the warehouse, elevator, parking lot, surface area, neighborhood, rent, mortgage, year, and total secure deposit affecting the housing prices. Then, the extent of positive or negative correlation of the selected indicators was measured using the Dython Library in the Python programming language. Finally, the learning models were estimated in the existing data using the cross-validation method.

Finally, five regression-based models were implemented on the research data to achieve 85% accuracy to enhance research validity. Therefore, based on Table 1, the accuracy of these models was measured using cross-validation (Online, 2022a) in two stages, before deleting the outliers and the warehouse column, and after deleting the data and the warehouse column (Table 1).

Negative values in Table 1 suggest very low accuracy of models (Online, 2022e), and the closer the precision of a model is to 1 (assuming a maximum accuracy of 100%), the results would be better, and vice versa. A significant improvement in the accuracy of the models is because the skewness and kurtosis of the value distribution forms of each data column were optimized by deleting the outliers, which was essential for the modeling. The skewness and kurtosis optimization does not improve the accuracy of each model (Online, 2022). Still, the models adopted in this paper benefited from this optimization in the best possible manner. Since data with a surface area of more than 200m2 had an asymmetrical distribution, settlements with a maximum area of 200m2 were evaluated and measured. In this research, each data includes the house price, presented by each seller according to the determinants of residential housing prices. After selection, the research data was organized into a database, and several columns formed a matrix for valuation and encoding. Each column contains nine variables: Warehouse, elevator, parking lot, area, neighborhood, rent, mortgage, year, and total deposit, and the amount of data is shown in each row. Each of these variables plays a significant role in housing pricing and location. The neighborhood name column was converted into columns with numerical variables in the research process using the One Hot Encoding (Online-retrieved, 2022) method. For clarity, Table 2 displays the matrix of variables and the data values for selling or buying housing in some Tehran neighborhoods and urban areas (Table 2).

According to the data analysis, some values of the total value column were zero because they had been put on sale for a negotiated price. Therefore, the equivalent rent and deposit were zero. Thus, containing this value in this column was deleted because prices outside the natural range interrupt the learning process of models and yield false predictions.

For example, Figs. 1 and 2 show outliers for the columns relate to Area and Total values after the preprocessing data step (Figs. 1 and 2).

This figure shows the density plot of the area column data after the removal of outliers. The x-axis represents the area in square meters, while the y-axis represents the density. The plot indicates the frequency distribution of area sizes within the specified range, highlighting the peak and spread of the data.

This figure illustrates the density plot of the total value column data after removing outliers. The x-axis represents the house total value in Iranian Toman, while the y-axis represents the density. The plot highlights the frequency distribution of house values, showing the range, peak, and overall distribution pattern of the data.

The bulk of data has a relative value of zero compared to other data, indicating that the data is too large with low frequency. In the research data section, by limiting the range of values, attempts have been made to bring the distribution of importance of these columns closer to the normal distribution. Also, the probability function pertained to the area columns, and the Total value before removing outliers caused by data that are too large or have low frequency was plotted this way. Figures 3 and 4 reveal the results after omitting outliers (Figs. 3 and 4).

This figure presents a Q-Q (quantilequantile) plot comparing the probability distribution of the total value column data, post-outlier removal, against a normal distribution. The x-axis represents the theoretical quantiles, while the y-axis represents the sample quantiles. The blue points indicate the observed values, and the red line represents the reference line for a normal distribution. The plot demonstrates how well the data conforms to a normal distribution, with deviations indicating departures from normality.

This figure shows a Q-Q (quantilequantile) plot comparing the probability distribution of the area column data, after the removal of outliers, to a normal distribution. The x-axis represents the theoretical quantiles, while the y-axis represents the sample quantiles. The blue points indicate the observed values, and the red line represents the reference line for a normal distribution. The plot assesses how closely the area data follows a normal distribution, with deviations highlighting discrepancies from normality.

The statistical studies suggested that the column dedicated to the year of construction also contained abnormal data; hence, houses built earlier than 1995 were removed as outliers. In addition, the skewness and kurtosis of the distribution curve related to the area, year of construction, and Total value, before and after the omission of outliers, are presented in Table 3 (Table 3).

The skewness and kurtosis of the distribution curve of each column exert a direct effect on the learning of prediction models, diminishing or improving the accuracy of the models. The closer the skewness and kurtosis are to their optimal value, the more accurate the models prediction will be. The skewness and kurtosis of the other columns were not investigated due to the lack of continuous data. On the other hand, skewness in the range of 0.5 to 0.5 means that the data are relatively symmetric, and the kurtosis between 2 and 2 is acceptable (George, 2010). Therefore, skew values after removing remote data help the model learn more.

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Bitcoin: Bandwidth Explodes By 91.4% After The Halving! – Cointribune EN

17h00 3 min of reading by Eddy S.

The crypto world is experiencing a major upheaval with Bitcoin leading the charge. The Bitcoin blockchain is showing record usage of its bandwidth, exceeding 90%! This resurgence of the crypto giant comes after the April halving event, a catalyst for a new era for the pioneer cryptocurrency.

Bitcoin is clearly taking the lead over its competitors in the crypto world. Data from Dune Analytics reveals an overwhelming dominance of BTC in blockchain transactions. Indeed, BTC represents 91.4% of transactions, far ahead of other crypto assets like Runes (6.8%), BRC-20 (1.6%), and Ordinals (0.2%).

Bitfinex analysts emphasize the importance of new token standards in this crypto dynamic. According to them, these innovations are encouraging more participants to rely on BTC rather than other chains. Consequently, the Bitcoin ecosystem is gaining attractiveness and market share in the crypto world.

BTC is undergoing a revolution thanks to the massive adoption of new token standards: Runes and BRC-20. These are transforming the Bitcoin ecosystem, attracting numerous crypto investors and developers.

Runes, designed to create fungible tokens on Bitcoin, are rapidly gaining popularity in the crypto world. They are generating an impressive transaction volume, sometimes reaching 750,000 in a single day (April 23, 2024).

The recent halving of April 2024 had major repercussions on the Bitcoin ecosystem. With this halving of BTC supply and rewards, investors and miners had to reevaluate their strategies. This led to an increase in transactions on the network.

Bitcoin is asserting its dominance on the crypto market with renewed vigor. The adoption of new token standards and the impact of the halving have propelled its blockchain activity to record levels! Despite persistent challenges, the future of BTC looks promising.

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Le monde volue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto la base, je m'intresse tout ce qui touche de prs ou de loin la blockchain et ses drivs. Dans l'optique de partager mon exprience et de faire connatre un domaine qui me passionne, rien de mieux que de rdiger des articles informatifs et dcontracts la fois.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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Bitcoin’s recent weakness signals an imminent S&P 500 correction, according to Stifel – CNBC

Bitcoin's recent weakness could be signaling an upcoming correction in stocks, according to Stifel's chief equity analyst Barry Bannister. Bitcoin reached its all-time high of $73,797.68 on March 14 before quickly correcting, and it has struggled to hold the $70,000 mark since, barring a handful of blips. On Thursday, the S & P 500 briefly touched 5,500 for the first time after notching its most recent record close earlier in the week. Historically, the S & P 500 averages flat for about six months after bitcoin peaks, and past cycles point to a topping in the benchmark stock index, Bannister said in a note Wednesday. "Weakening bitcoin signals an imminent S & P 500 summer correction and consolidation phase," he said. "With the S & P 500 now at the very high end (2 sigma) of bitcoin post-peak cycle overlays since 2011, we have yet another strong signal that an imminent S & P 500 correction is possible." He added that high beta tech stocks such as Nvidia are especially vulnerable heading into the third quarter. The S & P 500 could fall to 4,750, a roughly 13% drop from current levels, by the end of the summer, he told CNBC's "Closing Bell Overtime" earlier this week. Many see bitcoin as "digital gold," but Bannister said he sees it as a speculative instrument driven by excess dollar liquidity. As such, it's always been sensitive to dovish Federal Reserve pivots. In 2020, it became closely correlated with the Nasdaq 100 when the central bank injected trillions of dollars of rescue money into the economy during the Covid-19 crisis. Currently, the market finds itself in an asset bubble now that the "corona-cash" has migrated from consumers to corporations. "Mopping up that liquidity has just begun (and may never be accomplished), but since that dump we have seen politically destabilizing sequential bubbles which first inflated consumer prices and now asset prices," Bannister said. Expectations for a summer correction aren't based on bitcoin alone, however. Stifel said he expects "a case of moderate stagflation" a combination of high inflation, high unemployment and stagnant demand to tighten financial conditions and expose the S & P's high price-earnings ratio. Bannister also said investors may be in a "full-fledged bubble/mania mode which looks past our concerns." "Timing is everything," he wrote. "Past bubbles since the 19th century indicate the S & P 500 could well rise to ~6,000 at year-end 2024 and then round trip to near where 2024 began five quarters later, by ~1Q26 (S & P 500 ~4,800)."

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Bitcoin miners are treading water, but no alarms of a total firesale – Cointelegraph

The rising operational costs and lower rewards are taking its toll on Bitcoinminers but it isnt at catastrophic levels by any means, according to a cryptocurrency analyst.

We are in a period of hash ribbon inversion, and blocks are coming in about 14 seconds slower than they should do. That tells you that there is less hashrate online, blocks are being found slightly slower, Glassnode lead analyst James Check, also known as Checkmatey, said in a June 21 X video.

About 5% of mining hashrate is struggling about the moment, Check explained, referring to the amount of processing and computing power being given to the network through mining.

Check claims that 5% isnt enormous and it is likely that Bitcoin (BTC)miners are likely to be distributing some of their holdings, but it doesnt appear to be a complete and total firesale.

A hash ribbon inversion occurs when the 30-day moving average of the hashrate crosses below the 60-day moving average, signaling a period of mining difficulty. This can be due to several reasons, including increased operational costs, a decline in Bitcoins price or equipment issues among miners.

Following the Bitcoin halving on April 20, the Bitcoin hash rate started to decline as Bitcoin mining firms started turning off unprofitable mining rigs. Every four years, the halving event occurs, cutting miners rewards in half.

The April 20 halving reduced mining rewards to 3.125 BTC from 6.25 BTC.

At the time of publication, the Bitcoin networks hashrate is 586 exahashes per second (EH/s), down 2% over the past 30 days, according to Blockchain.com data.

Check suggested that while miners may be treading water right now, at worst, they may be breaking even as they mine new Bitcoins to cover operational costs.

Miners might be treading water up here, they may not be full-scale bear market level capitulating, probably just treading water, they mine 10 Bitcoin, they sell 10 Bitcoin, Check said, following other analysts comments in recent times about the lack of profitability for Bitcoin miners.

Bitcoin miners are selling most of their coins to pay the bills, Panos wrote in a June 18 X post.

In a separate post on X on the same day, Check noted that Bitcoin transaction fees represent an increasingly large proportion of miner revenues.

Related: Bitcoin dips below short-term holder realized price, sparking $60K fears

Miners must adapt and adjust to fees becoming their primary revenue stream, forcing the industry to further innovate, and apply efficient capital management, he wrote on X.

Nearly allBitcoin miners are selling 100% of their coins, while CLSK is managing to Hodl their BTC & use their relatively USD balance sheet to acquire new capacity, VanEck head of digital assets research Matthew Sigelwrote.

Magazine: Bitcoin Layer 2s arent really L2s at all: Heres why that matters

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Winklevoss twins refunded for exceeding Bitcoin donation limit to Trump – Cointelegraph

The billionaire Winklevoss twins, founders of cryptocurrency company Gemini, were refunded after their bitcoin donations to Donald Trumps presidential campaign exceeded the maximum amount allowed under federal law.

According to a Bloomberg report, the portion above the legal limit was refunded to the donors, citing a campaign official who spoke on condition of anonymity to discuss the matter.

The twins each announced donations totaling $2 million in Bitcoin in posts on social media site X on Thursday to the presumptive Republican nominee, which would exceed the maximum $844,600 that the Trump committee can legally accept per person.

It is uncertain whether the Trump 47 Committee, which accepted the Bitcoin donation and typically focuses on larger contributors, returned the amount in Bitcoin or converted it to its equivalent value in cash.

According to the report, the donated money is split among the former presidents campaign, the leadership political action committee that pays his legal bills, the Republican National Committee and 42 GOP state party committees.

Related:Gemini launches campaign finance initiative for pro-crypto candidates

Trumps acceptance of the Bitcoin donation moves toward the burgeoning relationship between his campaign and the crypto industry, a key player in the 2024 election. Investors and allies rally behind candidates who promise a lighter regulatory hand.

The Winklevoss brothers reportedly attended a June fundraiser for Trump, costing up to $300,000 per person. They have also donated roughly $5 million to the Fairshake political action committee and its affiliates, which has been responsible for attack ads against lawmakers and backing certain Democratic and Republican candidates for office.

Many of the users of the Gemini crypto exchange, founded by the twins, spent months trying to get back funds they invested in Gemini Earn, a program to earn a yield on crypto assets run jointly with now-bankrupt Genesis.

However, users can now get their Earn assets back in kind. Last week, New York Attorney General Letitia James said she recovered about $50 million from Gemini for users who were defrauded.

Gemini agreed in February to return at least $1.1 billion to customers through the Genesis bankruptcy as part of a settlement with the New York Department of Financial Services. The Securities and Exchange Commission sued Gemini and Genesis over Gemini Earn early last year; Genesis has settled the charges.

Magazine: Crypto voters are already disrupting the 2024 election and its set to continue

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Bitcoin ETFs enjoy 6 days of continued 9-figure outflows – crypto.news

The end of the week brought more outflows from spot Bitcoin (BTC) exchange-traded funds (ETFs), pushing the total net outflows for these products to more than $544 million.

According to Farside Investors, spot Bitcoin ETFs saw net outflows amounting to $105.9 million on June 21, making it the sixth successive day with outflows exceeding $100 million.

The bulk of these outflows came from three major funds: the Fidelity Wise Origin Bitcoin Fund (FBTC) with $44.8 million, the Grayscale Bitcoin Trust (GBTC) with $34.2 million, and the ARK 21Shares Bitcoin ETF (ARKB) with $28.8 million going out.

Despite the bearish sentiment in the market, not all ETFs followed this trend. The Franklin Bitcoin ETF (EZBC) managed to buck the trend with an inflow of $1.9 million on the same day. On its part, BlackRocks iShares Bitcoin Trust (IBIT), the largest Bitcoin ETF by holdings, remained neutral with no significant changes.

The recent trend of outflows is notable, especially considering that spot Bitcoin ETFs experienced $580.6 million in net outflows just last week. This comes after a period of four consecutive weeks of net inflows, which collectively added around $4 billion to these investment products.

The broader cryptocurrency market has been experiencing heightened fear, uncertainty, and doubt (FUD), which has been reflected in Bitcoins price dipping below the $64,500 mark.

On-chain data has also revealed significant activity among Bitcoin whales, who hold significant amounts of BTC. According to information shared by CryptoQuant CEO Ki Young Ju on X, whales sold approximately $1.2 billion worth of BTC over the past two weeks. This trend of cashing out coincided with the negative net flows in spot BTC ETFs.

#Bitcoin long-term holder whales sold $1.2B in the past 2 weeks, likely through brokers.

ETF netflows are negative with $460M outflows in the same period.

If this ~$1.6B in sell-side liquidity isn't bought OTC, brokers may deposit $BTC to exchanges, impacting the market. pic.twitter.com/oYeKsRqKeF

Ju warned that if this sell-side liquidity is not absorbed over the counter, it could lead to more BTC being deposited on exchanges, potentially impacting the market further.

The cryptocurrencys price has faced difficulties in recent weeks. On June 21, Bitcoins value dropped to $63,500. It has since rebounded slightly, adding around $750 in the last 24 hours, according to CoinGecko.

Nonetheless, the coin has experienced a 7.2% decline over the past 14 days, reflecting the ongoing volatility in the market.

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Bitcoin is facing a rare extended level of FUD on X Santiment – Cointelegraph

Bitcoinhas been facing an extended level of FUD on social media platform X amid sideways trading at the $65,000 mark, according to data from cryptocurrency intelligence platform Santiment.

This extended level of FUD is rare, as traders continue to capitulate, Santiment wrote in a June 20 X post. FUD stands for fear, uncertainty and doubt.

The crowd is mainly fearful or disinterested toward Bitcoin as prices range between $65K to $66K, it added.

The price of Bitcoin (BTC)has fluctuated between highs near $67,294 and lows around $64,180 over the last week, according to CoinMarketCap data.

Santiment pointed to its Weighted Sentiment Index a metric that measures Bitcoin mentions on X and compares the ratio of positive to negative comments remaining negative since May 23.

At the time of publication, it stands at -0.738, indicating that Bitcoin mentions are predominantly negative on X.

However, positive events for Bitcoin, such as the approval of 11 spot Bitcoin exchange-traded funds on Jan. 10 andthe Bitcoin halving on April 20, which saw the indicator spike to positive levels of 4.49 and 2.35, respectively.

Negative sentiment toward Bitcoin on social media has come from all ends of the crypto community, including traders and analysts with significant followings.

Bitcoin is around 60 days into a ~150-day long sideways slog since the halving, Glassnode lead analyst James Check, known as Checkmatey, wrote in a June 19 X post.

Months of sideways price action -- the most boring phase of the bull market, pseudonymous crypto trader Jelle added.

Bitcoin is pretty boring right now, pseudonymous crypto trader Trader Cobb added.

Related: Traders unbothered by Bitcoins sub-$65K levels, say BTC price remains high and steady

Some believe the lengthy consolidation could be making way for a meteoric price surge.

On June 13, Cointelegraph reported that Bitcoin was in its longest period of consolidation, at 92 days at the time, with analysts sayingthe extended steadiness could be setting the asset up for a massive upside rally.

Generally, the longer a consolidation, the larger the expansion afterward, pseudonymous crypto trader Daan Crypto Trades wrote.

Meanwhile, another crypto market sentiment gauge, the Fear and Greed Index, is showing a Greed reading of 63 at the time of writing, down 11 points over the past seven days.

While this metric also considers social media sentiment, it analyzes other factors such as volatility, market momentum and volume, market dominance and current trends.

Magazine: Bitcoin Layer 2s arent really L2s at all: Heres why that matters

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Bitcoin’s days below $70K are numbered as traders cite BTC’s swing low as the bottom – Cointelegraph

Bitcoins (BTC) price has been trending lower over the last two weeks, and analysts believe that the pioneer cryptocurrency appears to have bottomed in the area between $63,000 and $65,000.

Bitcoin has likely bottomed in this area between $63-65K, MN Capital founder Michal van de Poppe wrote in a June 20 post on the X social media network.

Van de Poppes analysis appears to have been informed by Bitcoins modest bounce from $64,950 to a high of $66,455 during the European trading session on June 20.

The analyst shared the following chart with his X followers. It shows BTC bouncing off a key demand level, indicated by the green band, stretching from $63,000 to $65,000.

Van de Poppe explained that if the price holds above this level, it will find itself in upward momentum.

Fellow analyst Jelle shared a similar sentiment, declaring that BTC continued the fight for range lows around the key $65,000 support level and that bulls were working on turning the market structure around to lock in a local higher low and higher high.

Bitcoins local market structure is slowly shifting back to bullish. Eyes on a reclaim of $66,000 - for confirmation of strength, Jelle explained.

Data from Cointelegraph Markets Pro and TradingView shows Bitcoins price action has formed a series of higher lows on the daily chart to stay above the ascending trendline. Bitcoin bulls are required to hold the price above this level to secure the recovery.

The appearance of a doji candlestick on the daily chart implied the importance of the $65,000 level for both buyers and sellers.

However, if bulls lose the ongoing battle, they may retreat toward the 200-day exponential moving average (EMA), which appears to be the last line of defense for BTC at $64,300.

Data from IntoTheBlock, whose In/Out of the Money Around Price (IOMAP) model reveals that Bitcoins price sits on relatively strong support downward, also reinforces this levels importance.

The 200-day EMA and the $65,000 psychological level are found within the $64,018$65,975 price range, where approximately 1.07 million BTC was previously bought by about 1.75 million addresses.

This suggests that high demand-side liquidity from this cohort of investors could push BTCs price past the resistance provided by the 100- and 50-day EMAs at $66,699 and $67,000, respectively, breaking it out of consolidation and into price discovery.

If this happens, according to popular analyst Moustache, BTCs price below $70,000 could be the last time we see it.

Moustache explained that the BTC price was nurturing an inverse head-and-shoulders pattern on the daily timeframe, which is becoming more and more of a reality for Bitcoin.

The inverse head-and-shoulders pattern forms a reversal setup and includes an inverted head and shoulders, with the left and right shoulders upside down below the neckline.

If the pattern continues, Bitcoins price could embark on a massive upward breakout toward its next key price level of $72,000 before potentially breaking its current all-time high price of $73,835, eventually making a run for $100,000, according to Jelle.

This would be an almost 55% jump from the current price, according to CoinMarketCap data.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Insane amount of Bitcoin shorters are hoping it wont go to $70K – Cointelegraph

Bitcoinshort sellers are probably crossing their fingers in hopes the asset wont return to $70,000 in the near term, with a huge amount of liquidations at risk if it does.

CoinGlass data shows a staggering $1.67 billion of short positions will be liquidated if Bitcoin (BTC)returns to $70,000 a price level it has been trading under since June 8, according to CoinGlass data.

There is an insane amount ofBitcoin short liquidations piling up at the topside, pseudonymous crypto trader Ash Crypto acknowledged on June 17 in an X post.

According to CoinMarketCap, a 7.46% increase from its current price of $65,136 would bring it to $70,000.

Markets are incredibly bullish right now. Bitcoin and ETH Liquidations are stacked. Bounce imminent, Discover Crypto CEO Joshua Jake wrote on June 18.

Bitcoin open interest (OI) which is the total value of all outstanding or unsettled Bitcoin futures contracts across exchanges has dropped 10.99% since reaching its all-time high on June 7 to $33.55 billion.

However, Bitcoin OI is 82% higher compared to Jan. 1.

While falling open interest can point to a deteriorating trend, rising open interest implies growing market interest.

Earlier in June, in the lead-up to June 7, Bitcoins OI surged over $2 billion in just three days, leading traders to believe it may trigger a sudden whipsaw effect on its price.

Willy Woo, a crypto analyst and creator of onchain data resource Woobull, suggested a major liquidation wipeout will better position Bitcoin to reach new all-time highs.

We need a solid amount of liquidations still before we get the all clear for further bullish activity, Woo wrote on June 19.

Related: Buy the dip? Bitcoin price drops to new 1-month lows of $64K

I know it sucks, but BTC is not going to break all time highs until more pain and boredom plays out, he added.

Woo is not the only analyst to use the word boring to describe Bitcoins recent price action following the Bitcoin halving on April 20.

Basically, its The Boring Zone before The Banana Zone, Global Macro Investorhead of research Julien Bittel wrote on June 19.

Magazine: Ethereums recent pullback could be a gift: Dynamo DeFi, X Hall of Flame

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Insane amount of Bitcoin shorters are hoping it wont go to $70K - Cointelegraph

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