Bitcoin Financial News

As Bitcoin sees a 1% surge, speculations arise regarding the potential involvement of whales, given a massive $10 billion injection into BTC. 

Crypto asset management company Hashdex has joined the competition for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States. The firm has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin futures ETF that will hold spot Bitcoin. 

Bitcoin holdings, the repercussions of this move resonated far beyond its initial impact. The reverberations of SpaceX's decision sent shockwaves through the market, sparking a chain reaction of sell-offs that contributed to the downward trajectory. However, it's essential to acknowledge that this is just one piece of a complex puzzle contributing to the current market dynamics. Beyond the SpaceX announcement, other influencing factors also have played a role in shaping up the recent market trends. One noteworthy factor is the waning interest in Bitcoin Exchange-Traded Funds (ETFs). Additionally, macroeconomic factors, such as global economic conditions and governmental policies, are exerting their influence on the cryptocurrency space. On Friday, the selling pressure intensified ahead of the Federal Reserve Chair Jerome Powell’s imminent speech. This anticipation of Powell’s speech has led many market participants to shift away from riskier assets, and this cautious sentiment isn't limited to cryptocurrencies alone. Traditional markets are also experiencing the impact of this uncertainty.

Bitcoin (BTC) faces a myriad of real-world obstacles on its journey to the next bull run.

In the recent cryptocurrency market trends, ShIB and PEPE have emerged as leaders in the meme coin pump, while Bitcoin has remained stagnant at $29,400 for three consecutive days.

Breaking Above the Downside Trending Line

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the spot Bitcoin ETF proposed by ARK Investment Management and 21Shares. In a filing released on Friday and a notice dated August 11, 2023, the SEC announced that it would «institute proceedings» to determine whether to approve or deny the Bitcoin ETF, opening a 21-day public comment period.

BitMEX co-founder, Arthur Hayes, projects an optimistic outlook for Bitcoin, especially in light of the Federal Reserve's current monetary policies. 

The Bitcoin mining difficulty, a measure of how difficult it is to mine a block, just hit a new all-time high at 55.62 trillion hashes, as per CoinWarz.

In a swift and intriguing turn of events, a previously enigmatic Bitcoin (BTC) address managed to catapult itself to the esteemed position of the third-largest holder of BTC. As reported by Cointelegraph on Aug. 22, the address in question accumulated a staggering 118,000 BTC.

Asian digital asset exchange HaskKey will now offer Bitcoin (BTC) and Ethereum (ETH) crypto trading to its retail clientele in Hong Kong.

Federal Reserve Chair Jerome Powell spoke on Aug. 25, and in his Jackson Hole speech, he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. The remarks by Powell strengthen the narrative that interest rates are likely to remain higher for longer. 

Crypto wallet company Exodus recorded a revenue of $12.4 million in the second quarter, experiencing a 4% decline compared to the previous year, the company announced on Tuesday.

Crypto trading platform Bitfinex has unveiled a feature that allows its Turkish customers to directly deposit Turkish Lira into their accounts without incurring any charges.

Speaking at an annual conference of central bankers at Jackson Hole, the Chairman of the US Federal Reserve Jerome Powell left the door open to the possibility of further interest rate hikes in the US, triggering some short-lived sell pressure in the crypto market.

On the latest episode of Macro Markets, Cointelegraph analyst Marcel Pechman explains why United States consumption remains strong while auto-loan and credit card balance delinquency is accelerating. According to Pechman, consumers built a cushion of extra cash savings as the U.S. government injected money to avoid a recession and temporarily forgave student loan repayments.

Ukrainian President Volodymyr Zelensky has directed Valeriy Zaluzhny to dismiss all heads of regional territorial centers for recruitment and social support. The decision was announced on the official Facebook page of the President's Office of Ukraine.

By Hannah Lang

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Friday, August 25, 2023 – The XRP price is off 1% in the past 24 hours, but stake-to-earn XRP20 coin could be about to explode after a 5% burn event was announced to take place today. There could be a big weekend of gains ahead for XRP20.

Bitcoin (BTC) is “much more likely” to stay rangebound until at least Q4, 2023, according to longtime market participant Filbfilb.