Global #Bitcoin

In a striking development that underscores a notable shift in market sentiment, over $26 billion worth of Bitcoin and Ethereum have been withdrawn from centralized exchanges since January 2024.

Bitcoin's price has dropped nearly 2% in the past 24 hours, settling around $62,758. This decline comes despite a substantial inflow of $202.5 million into Bitcoin ETFs as of August 26.

Nasdaq-listed Semler Scientific has significantly increased its Bitcoin holdings, mirroring the strategy adopted by MicroStrategy. The company's latest purchase of 83 BTC brings its total Bitcoin stash to 1,012 BTC, purchased for a total of $68 million.

On August 27, Santiment, a leading on-chain analytics provider, highlighted a significant trend in cryptocurrency markets: Bitcoin's recent "mild" price decline has led to a notable decrease in open interest (OI) for Bitcoin futures and derivatives.

The cryptocurrency market has witnessed a substantial surge in value over the past 24 hours, adding over $100 million to its total capitalization.

The financial ecosystem surrounding Bitcoin is evolving with the introduction of BTCfi, a project designed to build a decentralized finance (DeFi) infrastructure that enhances Bitcoin’s scalability and interoperability.

Bitcoin (BTC) has been exhibiting contrasting trends across different timeframes. On the weekly chart, BTC appears to be in a downtrend, while on the monthly chart, it shows an uptrend.

The cryptocurrency market is poised for a major event on August 23, 2024, as Bitcoin and Ethereum face a combined options expiry worth $1.5 billion.

On August 22, Bitcoin transaction fees experienced an unprecedented surge, skyrocketing by an astonishing 937.7% from $0.74 to $7.679.

Bitcoin miners’ reserves have surged to a two-year high, raising alarms about a potential decline in Bitcoin’s market price. According to a recent CryptoQuant report, miner reserves have ballooned to 368,000 BTC, valued at approximately $22.36 billion.

Mike Carson, founder of the Bitcoin-based naming project Spaces Protocol, advocates for decentralized domain names anchored on the Bitcoin network.

Bitcoin has reclaimed its momentum, with the price soaring above $60,700 once more. This resurgence is accompanied by notable changes in on-chain data, particularly with Bitcoin over-the-counter (OTC) desk balances, which have surged dramatically. This development suggests both opportunities and potential risks for Bitcoin investors.