Crypto Market Update: Blockchain Capital Seeks Funding, Sanders Criticizes Trump Family

The cryptocurrency market has been experiencing a downturn in recent months, but Blockchain Capital is undeterred. The firm is aiming to raise $700 million for two new funds, despite the struggles of the broader market. This move comes as other crypto-focused VC firms have also managed to secure funding.

The Trump family has been criticized by Senator Bernie Sanders for profiteering from cryptocurrency deals. Sanders described this as an 'unprecedented kleptocracy.' The White House has responded to these allegations, but further details are scarce.

Veteran trader Peter Brandt has made a prediction about the future of Bitcoin. He believes that an 'investable low' will occur later this year, followed by a major cyclical high in 2029. This prediction is based on historical patterns, which have shown a consistent 15-year cycle for Bitcoin's price.

Bitcoin ETFs have seen significant investment in recent days, adding $2.1 billion to their value in just eight days. This surge has coincided with an increase in Bitcoin's price from $68,000 to $77,000. However, the next level of growth poses a challenge for investors, as the Short-Term Holder Cost Basis sits at $80,100.