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⚡️ JUST IN: Tether has expanded its $USDT stablecoin to the Aptos blockchain, focusing on reducing transaction fees.
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5 Things to know in Bitcoin this week:
📉 Bitcoin's price is facing pressure, with predictions indicating a potential drop to $50,000 as traders prepare for lower support levels.
🇺🇸 All eyes are on the U.S. Federal Reserve's Jackson Hole symposium this week, where markets await cues on interest rate cuts.
⚡️ Bitcoin miners have paused their sales, with reserves stabilizing despite recent price drops.
📊 Bitcoin's market dominance is slipping, suggesting a possible altcoin rally as dominance retreats from recent highs.
😟 Sentiment remains bearish, with Bitcoin trading below its 200-day moving average, signaling caution among traders.
👉 Read more
Man allegedly tries to ‘recover’ losses from BitConnect, kidnapping two
Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto.
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Weekend Wrap: Google sued over $5M scam app, Malaysia nabs illegal miners and more
Google allegedly dragged its feet when taking down a crypto scam app, allowing the app to do over $5 million in damage, according to a proposed lawsuit.
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Colorado Church group tokenizes $2.5M chapel
This may be the first tokenized church in the world.
https://ct.com/cyl3
In the latest Joe Rogan podcast, billionaire Peter Thiel says #Bitcoin is a big invention that is systematically underestimated for the first 10 to 11 years and the society didn’t know how to process it immediately.
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Recent data shows continued investor interest in US-based spot Bitcoin exchange-traded funds (ETFs), even after outflows earlier in August.
According to data from SoSoValue, total weekly net inflow for spot Bitcoin ETFs reached $32.58M on Aug 16, reversing previous outflows. Grayscale Bitcoin Trust (GBTC) saw $72.9M outflow, but other ETFs had inflows.
Franklin Templeton files S-1 for new crypto index ETF
Asset manager Franklin Templeton is seeking to launch a new exchange-traded fund (ETF) designed to as a one-stop-shop crypto portfolio, according to an Aug. 16 filing.
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Primary Markets are broken, and CT.com is going to fix them
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💤 A long-dormant address holding 174 $BTC, now valued at $10.17 million, has just been reactivated after 10.6 years. Back in 2014, it was worth just $142,600.
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🧐 Institutional interest in Bitcoin seems to be decreasing at its current price of $58,000, as stablecoin inflows have dropped significantly over the past week.
Analyst Markus Thielen notes that while Tether remains active, USD Coin's (USDC) activity has notably quieted, indicating that institutions might be waiting for further price declines before re-entering the market.
Bitcoin has room to fall amid ‘unusual’ open interest: CoinGlass
Total open interest on Bitcoin futures hit $29 billion on Aug. 16 despite a decline in Bitcoin’s price.
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🗞 Catch up on the news over the last 24 hours!
🏛 Schumer Vows Pro-Crypto Legislation Under Harris Presidency
📱 USDC Teases Tap-and-Go Payments with NFC by Apple
📈 SEC Sanctions First Leverage MicroStrategy ETF
🔍 Analyst: US Gov't Bitcoin Sale Has No Market Impact
📉 Low Demand Expected for Solana ETFs, Says Sygnum Research Chief
📊 Institutional Holders Maintain or Increase Bitcoin ETF Investments in Q2
🏢 Eric Trump Reveals Upcoming Crypto Venture in Digital Real Estate
🌐 Exploring Web3 Careers or Hiring?
📉 Milder Fed Rate Cuts Anticipated by Market
👍 FTC to Crack Down on Fake Likes and Followers
📉 Bitcoin’s price fell further on August 15 as the U.S. government transferred 10,000 $BTC, worth $581 million, to Coinbase, heightening market selling pressure.
🇺🇸 Despite positive U.S. inflation data, Bitcoin remains under pressure due to this ongoing sell-off narrative. Analysts suggest that the sale itself isn’t fundamentally impactful, but bearish sentiment has intensified the market reaction.
Will we see a reversal soon?
🐳 - Hopefully!
🌚 - No way!
🧐 Fed rate cuts may not be as aggressive as the market expects, according to portfolio manager Justin Elliot, which could impact Bitcoin's performance.
Despite a recent decline in Bitcoin's price, the crypto industry remains optimistic that potential rate cuts will boost the asset’s value.
🇦🇪 RAKBANK, a government-owned bank in the UAE, has partnered with Bitpanda to create a digital asset management platform for residents, though it still awaits approval from the Central Bank.
This move aligns with the UAE's growing embrace of crypto, following recent advancements like the launch of RAK Digital Assets Oasis and a Dubai court's recognition of crypto for salary payments.
Goldman Sachs lowers US recession risk to 20%, what it means for Bitcoin
Goldman Sach’s economists said the Federal Reserve could also cut rates next month, and analysts say this could be welcomed by Bitcoin traders.
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75% of all Bitcoin has been hodled for over 6 months
Despite Bitcoin dropping 21% from its all-time high, the majority of Bitcoin held in wallets hasn't been sold or moved for the last six months.
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What does Bitcoin smell like? AI startup wants to ‘teleport’ digital scents
The technology could also help detect diseases such as cancer.
https://ct.com/cylu
Crypto analyst doubts Bitcoin dominance is ‘going back up’ to 70% again
Crypto analyst Benjamin Cowen expects Bitcoin dominance to make its “final move” to 60% either in September or, at the latest, by December 2024.
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Bitcoin miners may gain $13.9B yearly from 20% shift to AI and HPC: VanEck
Bitcoin miners could increase profitability and improve "bad balance sheets" by allocating some of their energy capacity to the AI and HPC sectors, according to VanEck.
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Advisor holdings in Bitcoin ETFs rise, hedge fund stakes dip — Coinbase
Investment advisors are expanding their spot Bitcoin ETF holdings, but Coinbase warns that "large inflows" might not be seen immediately due to the slow summer period in the United States.
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🗞 Catch up on the news over the last 24 hours!
🔋 IMF execs consider 85% hike in crypto mining power costs.
💸 Bitcoin open interest described as 'unusual' by CoinGlass.
📈 World's third-largest pension fund acquires $34M in MicroStrategy shares.
📉 Bitcoin's $58K price sees diminished institutional interest.
💰 Donald Trump earned $7M from NFTs, disclosure reveals.
🤔 Bitcoin's price behavior, institutional buying trends, and EigenLayer's growth discussed.
🔐 Dormant Bitcoin wallet reactivates after 10.6 years, valued at $10.17M.
🇺🇸 Former President Donald Trump has disclosed owning up to $5 million in Ethereum-based crypto assets and has earned over $7 million from his three NFT collections.
This marks a significant financial gain for Trump, who has increasingly embraced digital assets as part of his 2024 election campaign.
🎙️ What’s going on this Friday in the crypto world?
On Rise’n’Crypto, we dive into Bitcoin’s strange price behavior, why institutions aren’t buying the dip, and the latest on EigenLayer’s massive growth.
Don’t miss out—tune in now! 🎧
💰 South Korea's National Pension Service, the world's third-largest public pension fund, has purchased $34 million worth of MicroStrategy shares, further increasing its exposure to Bitcoin.
The fund now holds significant stakes in other crypto-related companies, including Coinbase, Roblox, and Block.
IMF execs float raising crypto mining electricity prices by 85%
A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to Belgium’s emissions, say two IMF executives.
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🌚 Solana ETFs are expected to see limited demand among U.S. investors, according to Sygnum's head of investment research, Katalin Tischhauser.
The low uptake of Grayscale's Solana Trust (GSOL) and its small assets under management suggest that Solana investment vehicles will not significantly impact the market.
🔍 New FTC rules are targeting fake likes and followers. Curious about how these changes might affect you?
Learn what you need to know to stay compliant and avoid potential pitfalls.
Listen to the latest episode now! 🎧
🚨 BREAKING: SEC approves the first leverage long MicroStrategy ETF.
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