Central banks buying gold at record levels, but Bitcoin still outperforms
Central banks bought a record 483 tonnes of gold in the first half of 2024, driving the asset to an all-time high. Go to Source
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Bitcoin miners see worst revenues in 11 months as difficulty climbs
August was the lowest revenue month for Bitcoin miners so far in 2024 and the worst revenue month since September last year. Go to Source
Court Approves BTC Loan for Bankrupt Bitcoin Mining Firm
Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin. … Read more
Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise
Traders could be waiting for Bitcoin to bounce off the $55,724 support opening positions in LTC, FET, MNT and AAVE. Go to Source
US Election-Year Bull Runs: How Bitcoin Historically Surged Post-Victory
With just 65 days remaining until the U.S. presidential election, bitcoin wrapped up August with an 8.6% decline compared to where it started the month. Historically, in the last two election cycles, bitcoin’s value has only shown substantial appreciation after the election had ended and a victor was declared. From 2012 to 2020: How Bitcoin … Read more
Bitcoin loses 8.6% in August as September starts with fresh 2-week low
BTC price conditions fail to improve over the weekend, and liquidity grabs could be on the menu next, one Bitcoin trader suggests. Go to Source
NFT Market Faces Brutal August: Sales, Buyers, and Transactions All Plunge
Non-fungible token (NFT) sales have had a rough time in 2024, and August has been no exception. Following a 36.6% drop in July, August brought another significant decline, with sales falling by 41.36%. NFT Market Struggles: August Sales Plunge 41.36% After July’s Decline According to cryptoslam.io metrics, NFT sales in August tallied up to approximately … Read more
Crypto losses to hacks exceed $313M in August
Two largest phishing attacks together made up 93.5% of the total stolen funds, amounting to $293.4 million. Go to Source
Canadian Court Orders Man to Repay $1.2 Million in Bitcoin Loan Dispute
A court in British Columbia, Canada, has ordered Daniel Tambosso to repay Hung Nguyen $1.2 million for a loan of 22 bitcoins made in 2021. Nguyen, a Canadian real estate agent, claimed the loan constituted his entire savings, and Tambosso’s failure to repay has severely impacted his finances and mental health. Tambosso, claiming to be … Read more
Arthur Hayes Predicts Bitcoin Boom as Central Banks Cut Interest Rates
Bitmex co-founder Arthur Hayes is optimistic about bitcoin’s future, citing recent interest rate cuts by central banks. He believes further rate cuts by the U.S. Federal Reserve, Bank of England, and European Central Bank could expand the money supply and drive inflation. Hayes argues that while inflation may negatively impact some businesses, it would benefit … Read more