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Crypto

Bitcoin recovers $63,500 but caution lingers; Wintermute says too early to judge trend

Bitcoin has risen about 8 percent over the past week to trade around $63,500 and briefly topped $64,500 intraday on July 7. Market maker Wintermute said in a recent report the move looks like a typical relief rally rather than a structural upturn, citing an easier macro backdrop and a dovish Federal Reserve tone. It said it is too early to call a trend reversal without sustained spot bitcoin ETF inflows.

Crypto

Strategy sells 3,588 bitcoins as market watches for 2022 rally deja vu

Strategy sold 3,588 bitcoins over a week, drawing market attention because it was its first major disposal since December 2022. The company said it sold the bitcoin for about $216.0 million and plans to use the proceeds to fund dividends on digital credit securities. Based on its average purchase price, it recorded a realised loss of more than $55.44 million. Some traders are comparing the move with a past bear-market sale followed by a sharp rise.

Telecommunications & Media

LG Uplus to support treatment costs for children with disabilities through employee donations

LG Uplus is supporting crisis-hit families of children with developmental disabilities through an employee-participation donation programme. The company said on July 8 it delivered about 5 million won raised through its in-house programme, "1,000 Won of Love," to such families to ease the burden of treatment costs. It worked with the Miral Welfare Foundation to select recipients. Cumulative donations through the programme total about 320 million won.