Goldman Sachs Reduces US Recession Risk to 20%: Implications for Bitcoin Economists at Goldman Sachs have revised their projected probability of a recession occurring in the United States in the coming year to 20%. This adjustment follows recent data from retail sales and employment statistics, which may positively influence Bitcoin traders. Current Economic Insights In […]
Majority of Bitcoin Held for Over Six Months Despite a 21% decline from its peak price, a significant portion of Bitcoin remains untouched in wallets for the last six months. Key Findings According to on-chain data, approximately 75% of all circulating Bitcoin has not been moved for over six months. This analysis comes from Glassnode’s […]
Major Firms Pursue Cryptocurrency Licenses in Turkey The Turkish cryptocurrency landscape is undergoing significant transformation as leading companies like Coinbase and KuCoin seek business licenses within the country. This activity reflects a notable shift in the regulatory environment, driven by ongoing updates from the Turkish Capital Markets Board (CMB). Increase in License Applications On August […]
Bitcoin Dominance and Market Predictions Cryptocurrency analyst Benjamin Cowen anticipates that Bitcoin’s market dominance will experience a significant shift, aiming for a final move toward 60% by as early as September or as late as December 2024. Analyst Insights on Bitcoin Dominance Cowen, the founder of Into The Cryptoverse, expresses skepticism regarding Bitcoin’s return to […]
Bitcoin Miners Could See $13.9 Billion Annual Revenue Boost by Shifting to AI and HPC According to a report from investment firm VanEck, Bitcoin miners have the potential to enhance their profitability and stabilize their financial standing by reallocating a portion of their energy resources towards the artificial intelligence (AI) and high-performance computing (HPC) sectors. […]
Weekly Highlights in the Crypto Space Key Developments Musk Suggests DDoS Attack Delayed Trump Interview on X Elon Musk, the owner of X, announced that the platform experienced a significant distributed denial-of-service (DDoS) attack just as he was about to conduct an interview with Donald Trump, a U.S. presidential candidate. On August 12, Musk tweeted, […]
Bitcoin Spot ETFs Draw Investor Interest Despite August Withdrawals Recent inflows into Bitcoin spot exchange-traded funds (ETFs) from major players signify an increasing confidence in these financial instruments, even as they faced notable outflows earlier in the month. Investor Activity in August Data collected on August 16 indicates that the weekly net inflow for spot […]
Bitcoin’s Price Fluctuation Forecast in Relation to Election Years As Bitcoin approaches its price set around $59,000, a crypto analyst suggests potential price movements might be influenced by historical trends observed during previous election years in the United States. It is anticipated that August will remain stable, with a significant breakout potentially occurring in the […]
Increased Advisor Interest in Bitcoin ETFs Amid Hedge Fund Retreat Recent trends indicate that investment advisors are significantly increasing their holdings in spot Bitcoin exchange-traded funds (ETFs). However, reports suggest that substantial inflows may take time to materialize due to the slower summer months in the United States. Investment Advisors vs. Hedge Funds According to […]
Crypto VC Funding Reaches $2.7 Billion in Q2, Tron Emerges as Potential Leading Blockchain Funding for crypto startups has seen an increase of over 2.5% in the second quarter of the year, with Tron on pace to become the most profitable blockchain based on revenue, as suggested by Justin Sun. Welcome to your essential update […]
