Focuses exclusively on news and developments pertaining to Bitcoin, the first and most prominent cryptocurrency.
Crypto funds saw $305M in outflows, led by $BTC with $319M. US-based funds faced $318M in withdrawals, while $ETH outflows hit $5.7M. However, blockchain equities and Bitcoin miner products gained $11M, showing selective investor interest.
Cardano ($ADA) completes the first phase of its Chang hard fork, introducing a token-based governance system and an interim constitution. Founder @IOHK_Charles claims the upgrade surpasses Bitcoin in impact, paving the way for a fully decentralized network.
$BTC ETFs in the U.S. saw a $175.67M outflow on Aug 30, doubling the previous day’s figure, marking four consecutive days of declines. $ETH ETFs remained stable, while Hong Kong ETFs had mixed movements in $BTC and $ETH. @CryptoMarketInsights
Anatoly Yakovenko compares $ETH’s energy-efficient Proof-of-Stake model to $BTC’s energy-intensive Proof-of-Work system. While Ethereum has reduced energy costs, Bitcoin’s broader acceptance and ETF approval attract more institutional investments.
U.S. cryptocurrency ETFs faced major outflows on August 29, 2024, totaling $73.5M. $BTC ETFs led with $71.7M outflows, including $31.1M from Fidelity. $ETH ETFs saw a $1.77M loss, with Grayscale’s $5.4M outflow.
Jupiter Exchange cuts borrowing fees for $SOL, $BTC, and $ETH from 0.01% to 0.008% per hour, boosting $SOL pool activity from 30% to 50%. The move aligns borrowing costs with Binance rates, potentially revitalizing market activity amidst a bearish trend.
Elon Musk warns of U.S. bankruptcy due to a $16 trillion deficit increase by 2035, with national debt at $35.27 trillion. He suggests $BTC as a hedge against inflation and government overspending. Federal lawsuit against Musk dismissed.
US PCE inflation steady at 2.5%, sparking optimism for potential Bitcoin ($BTC) and altcoin rally. Stable inflation may lead to favorable conditions as @FederalReserve could ease monetary policy, boosting market liquidity and risk appetite.
Solo miner earns 3.27 BTC ($199,094) on August 29, 2024, with 456 PH/s equipment. Block included 2391 transactions, processed by Solo CK Pool, which solved 14 blocks in a year, earning 59.3 BTC. Energy cost: $250,000.
$IREN reports a record $184.1M revenue in 2024, a 144% increase. Plans to double computing power and expand AI cloud services. Commits to renewable energy for Bitcoin mining.
TeraWulf ($WULF) unveils a 2 MW Bitcoin mining facility using advanced liquid cooling technology and plans to expand to a 20 MW facility by 2024. They are exploring partnerships with @Apple and @Microsoft, eyeing $14 billion in AI sector opportunities.
Ethereum ETFs attract $5.84M inflows as $BTC ETFs see $105.19M outflows on Aug 28, 2024. Hong Kong market shows no movements in both. Shifting investor sentiment may favor Ethereum’s DeFi and smart contract potential. @Ethereum @Bitcoin
US PCE inflation for July is forecasted to hit 2.6%, potentially leading the Fed to reconsider September rate cuts. This could put significant selling pressure on $BTC and $ETH, with billions in crypto options set to expire.
Bitcoin mining difficulty increased by 2.99% to 89.47 T on August 28, 2024, with the hash rate rising to 743.28 EH/s. Next adjustment expected on September 11, 2024, could signal further trends. $BTC #cryptocurrency
