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We post daily the best Bitcoin, Cryptocurrency & Blockchain News. Admin: @LevoBNTG
💰 Bitcoin’s Last Difficulty Drop Likely to Be Erased in 3 Days
Bitcoin’s hashrate is on the rise once again, edging closer to the peak levels seen at the end of July. Despite a recent 4.19% dip in difficulty during the last retarget, current projections suggest that this drop might soon be history. On Aug. 28, the difficulty is expected to bounce back, potentially increasing by 4% or more.
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💰 Bitcoin ETFs Soar With $252M Influx, Ether ETFs Experience Another Day of Losses
Spot bitcoin ETFs achieved their highest inflow since late July, with the 12 funds collectively pulling in $252 million on Friday. Leading the charge, Blackrock’s IBIT added $86.83 million to its coffers, bringing its total net inflows since Jan. 11, 2024, to an impressive $20.71 billion. Fidelity’s FBTC followed, gathering $64 million, while Grayscale’s Mini Bitcoin Trust absorbed $50.83 million.
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💰 Bitcoin on-chain and derivatives data suggests market optimism: analyst
The bitcoin price is currently holding above the $60,000 mark amid optimistic on-chain and derivatives market signals. CryptoQuant charts show that bitcoin exchange reserves on centralized exchanges in August have fallen to a multi-year low. Since the end of July, bitcoin supply on exchanges has fallen from over 2.75 million to around 2.67 million — a 3% drop in the past 30 days.
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🥇 Bitcoin addresses holding at least 10 BTC recover from Q1 decline
Bitcoin addresses holding at least 10 BTC have declined in 2024. The number of such addresses began the year at approximately 155,500, with the number falling through the first quarter to hit a low of around 152,600 in late March. This decrease diverged with Bitcoin’s price movements during the same period, reflecting smart money taking profit. However, a reversal occurred in August, with addresses holding over 10 BTC rising back toward 153,500 as Bitcoin’s price stabilized near $60,000.
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💰 Bitcoin’s Market Dominance Grows, Sustained by Long-Term Holder Support
Stablecoins and altcoins are facing steep declines in their dominance, while Bitcoin strengthened its market position. According to Glassnode’s latest report, Bitcoin’s dominance has surged from 38% in November 2022 to a remarkable 56% of the entire digital asset market today. On the other hand, Ethereum, as the second-largest asset in the ecosystem, has experienced a 1.5% decrease in dominance, remaining largely unchanged over the last two years.
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💰 Bitcoin ETFs see 14% growth in institutional interest during Q2 despite downturn
Bitwise CIO Matt Hougan highlighted a notable increase in institutional investments in Bitcoin exchange-traded funds (ETFs) during the second quarter despite BTC value declining 12% over the three months. According to him, the number of institutional investors holding Bitcoin ETFs grew by 14% quarter-over-quarter, rising to 1,100 from 965. These investors now control 21.15% of the total assets under management (AUM) in Bitcoin ETFs, up from 18.74%. By the end of Q2, institutional holdings in Bitcoin ETFs totaled $11 billion.
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💰 Bitwise AUM surpasses $4.5 billion, expands to Europe with ETC Group purchase
Bitwise Asset Management has announced the acquisition of ETC Group, a London-based digital asset manager known for creating Europe’s largest physical Bitcoin ETP, BTCE. This strategic move elevates Bitwise’s assets under management (AUM) to over $4.5 billion and enhances its capability to serve European investors with institutional-grade products.
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Franklin Templeton is preparing a new ETF: Bitcoin and Ethereum under one flag!
✔️Asset manager Franklin Templeton has taken a step towards launching an innovative exchange-traded fund by filing an S-1 with the SEC.
✔️The new Franklin Crypto Index ETF will combine Bitcoin and Ethereum in one product, opening up new horizons for investors.
💡Well, it's time to keep your finger on the pulse - this fund promises to be interesting!
🤝 @Cryptocurrency_Inside ✅
💰 Yahoo Finance says #Bitcoin ETF holders have 'diamond hands.' 💎✋
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💰 Bitcoin power law model suggests $30K floor, $1M potential this cycle
Giovanni Santostasi’s Bitcoin Power Law model suggests Bitcoin’s price will not fall below $30,000 again, indicating a floor for future valuations. The model shows Bitcoin’s price trajectory will continue to rise, with its current ‘fair price’ at $86,339 and potential ceiling at $332,543. As depicted in the charts from Bitbo, the model uses linear regression to establish support and resistance bands, which have historically contained Bitcoin’s price movements.
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🇺🇸 Sen. Lummis draft bill allows US states to hold 💰 bitcoin
Sen. Cynthia Lummis' bill lays out a pathway for the U.S. to hold bitcoin and gives states the option to do so as well, according to a draft copy obtained by The Block. The bill is called the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024” or shorthand, the "BITCOIN Act of 2024," according to a draft version.
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💰 Vaneck Predicts Bitcoin Could Reach $2.9 Million by 2050
Asset management firm Vaneck released a report projecting bitcoin could reach $2.9 million per coin by 2050, becoming a global medium of exchange and reserve currency. The report suggests bitcoin could settle 10% of global international trade and 5% of domestic trade, with central banks holding 2.5% of their assets in BTC. Scalability challenges are noted, but Layer-2 solutions may enhance adoption.
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🇺🇸 Donald Trump says, “Tomorrow I’m going to be with the #Bitcoin people” for his plans to attend the conference today
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💰 MARA purchases $100 million worth of bitcoin, holdings surpass 20,000 BTC
Bitcoin miner MARA, recently rebranded from Marathon Digital, announced on Thursday it has purchased an additional $100 million worth of bitcoin. The acquisition brings MARA’s balance sheet holding to more than 20,000 ($1.3 billion) — nearly 0.1% of bitcoin’s total 21 million supply, according to a statement shared with The Block.
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💰 Robert Kiyosaki Pushes Bitcoin as US Debt Soars to Alarming Levels — Warns of Banking System Failures
Robert Kiyosaki, the author of Rich Dad Poor Dad, has warned that the U.S. is adding a trillion dollars to its debt every 100 days. He advises investing in gold, silver, and bitcoin to safeguard against economic instability. Kiyosaki also points out the dangers of relying on traditional banks, noting that banking panics are often hidden, leaving most people unaware when their bank is insolvent.
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🇸🇻 Arkham Intelligence reports that the wallet that is attributed to the El Salvador government, now holds 5,851 Bitcoin, valued at roughly $356.4 million 🔥
@Cryptocurrency_Inside
💰 Bybit emerges as dominant exchange with $2.5 billion BTC spot volume
Bybit's recent surge to a $2.5 billion spot volume on Aug. 22 has stunned the crypto community, consistently outperforming even the behemoth Binance in daily volumes. This rapid ascent is not just a fluke; it signals a deeper trend reshaping the trading landscape.
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🏦 Coinbase exec confirms talks with Kamala Harris campaign on crypto policy direction
Vice President Kamala Harris‘ team has been reaching out to key players in the crypto industry as part of an effort to mend the strained relationship with the rapidly growing sector, according to Coinbase’s Chief Policy Officer, Faryar Shirzad. In an Aug. 21 post on social media platform X, Shirzad revealed that he has participated in several discussions with the Harris team, covering topics such as fostering innovation, job creation, and consumer protection in the US.
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💰 El Salvador launches Bitcoin training for 80,000 public servants
El Salvador’s National Bitcoin Office (ONBTC) has launched a Bitcoin training and certification program for 80,000 public servants. In an Aug. 20 statement, ONBTC confirmed that Bitcoin education is now a vital component of a governance initiative designed for public sector employees. This program is part of the Higher School of Innovation in Public Administration (ESIAP), established by President Nayib Bukele in 2021 to elevate governance standards.
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💰 BlackRock’s IBIT boosts Bitcoin ETFs with $92.7 million inflow, total now $20.5 billion
Data from Farside shows that Bitcoin ETFs experienced a net inflow of $62.1 million, marking the largest since Aug. 8. The primary contributor to this surge is BlackRock’s IBIT, which alone attracted an impressive $92.7 million, bringing its total net inflow to a staggering $20.48 billion. Fidelity also saw a modest inflow of $3.9 million. However, not all Bitcoin ETFs performed positively—Bitwise’s BITB and Galaxy Invesco’s BTCO were the only issuers to experience outflows, losing $25.7 million and $8.8 million, respectively.
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🪙 Bitcoin Fog founder argues 30-year sentence ‘vastly exceeds’ similar cases
Roman Sterlingov, the man behind the crypto mixer Bitcoin Fog, is contesting a potential 30-year prison sentence following his conviction on several money laundering charges. In a 37-page sentencing memorandum submitted to the US District Court for the District of Columbia, Sterlingov’s defense team contends that the recommended sentences of 30 and 20 years by the prosecution and Probation Office, respectively, “vastly exceed” the penalties imposed in similar cases.
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JUST IN: 💰 Financial Post says that institutional demand is continuing to grow for spot #Bitcoin ETFs 🚀
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🗣️ Co-founder of BitMEX, Arthur Hayes, believes that for an altcoin season to begin, Bitcoin must surpass $70,000 and Ethereum $4,000.
He also predicts that if these levels are reached, Solana could rally to $250 during the next altcoin season.
What’s your prediction for Solana’s price?
🌚 - $180
❤️ - $250
⚡️ - $350
🐳 - $500
🤝 @Cryptocurrency_Inside ✅
💰 Lummis unveils the BITCOIN Act to establish strategic BTC reserve for the US
Following her announcement of a historic proposal to supercharge the US dollar and pay down the national debt by establishing a strategic Bitcoin reserve, US Senator Cynthia Lummis (R-WY) officially introduced the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act” in the Senate on July 31.
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💰 Bitcoin dips to $66K as US moves $2 billion in seized BTC to unidentified wallets
Bitcoin experienced a sharp decline to roughly $66,300 on July 29 after the US government transferred $2 billion worth of seized bitcoin (BTC) tied to the Silk Road marketplace. Arkham Intelligence revealed that a US government-owned wallet transferred 29,800 BTC to an unidentified address with no prior transaction history on July 29.
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🇺🇸 Sen. Cynthia Lummis announces bill for US Treasury to buy 1 million bitcoin worth $68 billion: Bitcoin 2024
Senator Cynthia Lummis, of Wyoming, will introduce a bill to direct the U.S. Treasury to purchase 1 million bitcoins — worth about $68 billion at current prices — over a period of five years next week, she said in an interview with The Block. The move is made to counter the effects of dollar debasement, she said. “Bitcoin is a great store of value. Over the last four years or so it has increased about 55% per year. During the same period, the U.S. dollar has declined in value and we’ve seen increasing inflation,” Sen Lummis said.
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💰 X seemingly drops Bitcoin emoji during Bitcoin Conference week surprising community
Social media platform X, formerly Twitter, has seemingly discontinued its support for the Bitcoin emoji (also known as a hashmoji or hashflag). As of press time, when typing #bitcoin into X, no Bitcoin logo is generated. Initially introduced in 2020, the emoji appeared alongside the hashtag #Bitcoin, adding an orange Bitcoin symbol to tweets. This feature became a hallmark of Bitcoin discussions on the platform, and its recent removal has sparked a backlash from the crypto community.
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💰 Lummis to propose Fed adopt Bitcoin as reserve asset at Nashville conference
Wyoming Senator Cynthia Lummis known for her pro-crypto stance, plans to propose that the Federal Reserve hold Bitcoin as a strategic reserve asset, akin to gold and foreign currencies, Fox News reported on July 24. The Republican senator, known for her pro-crypto stance, plans to propose that the Federal Reserve hold Bitcoin as a strategic reserve asset, akin to gold and foreign currencies. Sources told Fox that Lummis hopes former President Donald Trump will endorse the bill, lending significant weight to her proposal.
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