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Earlier in the month, when Bitcoin started a downward trend due to a massive sell-off as traders took profits around $36,000, BTC fell to the $33000 price level. Bitcoin price rebounded after the whale-induced drop failed to keep the market down for more than 24 hours. Bitcoin is now holding above $33,000 support and is roughly flat for this week. Buyers remain active above $30,000, although upside momentum is starting to slow, heading into the weekend.

Today’s Headlines

The central bank of Jamaica will begin launching its central bank digital currency (CBDC) in August, becoming one of the first countries in the world to push a CBDC formally through its central bank. The CBDC will be denominated as a complement to cash in the country so that one coin is equal to one Jamaican dollar, designed to streamline the system of currency for ease of use. The scheme will also be used to help serve unbanked sections of the population, with the central bank calling on retail payments companies to support the CBDC in order to bring unbanked residents on board.