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It's Frrriiddaaayyyyy Folks! I am traveling this weekend so there will be no more updates throughout the day. Yesterday, will Bitcoin reach $148K this bull run? That's what Dan Morehead believes so now we wait. Today the most covered news is about the new Ark Ethereum Futures ETF and a ‘cybersecurity incident’ affected Kroll; which may have impacted BlockFi and FTX. The price of Bitcoin is currently trading at $26,100.07 remaining slightly above $26K. Let's dive into the news...
JPMorgan cites the unwinding of long positions in CME bitcoin futures nearing completion, rather than being in its initial stages, as limiting near-term downside.
Bitcoin could be worth less than $20K in 2023, US inflation data says. Bitcoin (BTC) price has struggled since losing the $30,000 support in late July 2023, before a flash crash on Aug 17 compound the bearish headwinds and Bitcoin deposits in Exchange wallets has now dropped to 2.05 million BTC, it lowest since January 2018. On Aug. 25, approximately 72,000 Bitcoin options contracts will expire with a notional value of $1.91 billion and The options contracts have a put/call ratio of 0.55, meaning nearly twice as many calls are expiring than puts.
ARK Invest and Glassnode have released white papers describing a proposed framework for analyzing Bitcoin on-chain metrics. Santiment says that after Bitcoin’s sudden collapse below $26,000, the use of the term “bear market” has increased to an 11-week high on social media platforms, which is a bullish signal. On-chain data shows the Bitcoin NVT ratio is currently flashing a buy signal, a sign that the bottom for the asset’s price might now be in.
A captain from Brussels took his passion for sailing and Bitcoin and set sail on his Sato Boat painting with a giant orange “B” to promote the cryptocurrency across the seas.
Investment firms ARK Invest and 21Shares have teamed up to apply for two Ethereum futures exchange-traded funds after reports emerged last week that the United States securities regulator could soon begin approving applications.
XRP whale moves 29 million tokens to Bitstamp amid price slide and additional information suggests the possibility that this whale might be selling its XRP assets, as it had previously moved 14 million XRP to Bitso just a few hours earlier.
The total assets under Tether stand at $86.1 billion with total liabilities amounting to $82.8 billion — thus confirming a reserve backing of over 100%.
Coinbase started operations in Canada earlier this month as part of its international expansion amid a regulatory crackdown in its home country. A new crypto exchange (EDX Markets) supported by the world’s biggest financial institutions is tapping into the digital asset management services of the crypto platform Anchorage Digital. Binance contacted some projects asking for details about their market makers and whether they would consider contribution some of their tokens to Binance savings pools. Embattled crypto firms BlockFi and FTX said they have both been indirectly affected by a cybersecurity breach involving third-party claims administration platform Kroll. HashKey to start Bitcoin and Ether retail trading in Hong Kong from Aug. 28. Vauld aims to overhaul its board, bringing in a new CEO, a creditor representative, and a scheme manager. A new partnership between Independent Reserve and PayPal offers investors extra choice and “mitigates the risks” of Australian crypto banking blocks, says CEO Adrian Przelozny.
The U.S. Securities and Exchange Commission (SEC) has lost three attorneys from its legal team amid news that a federal judge has scheduled a trial for the remaining arguments in the case with Ripple Labs.
Magnate Finance has seemingly executed an exit scam, making off with $6.4 million.
Sources:
Crypto Market (TB)
Bitcoin (Cointelegraph | BIC | Cointelegraph | BIC | TDH | NewsBTC | Cointelegraph)
ETFs (Cointelegraph | Blockworks | TB | NewsBTC | UToday | BIC)
Altcoins (Cointelegraph)
Stablecoins (Cointelegraph)
Exchanges/Wallets (CoinDesk | TDH | CoinDesk | Blockworks | TB | Cointelegraph | TB | BIC | Cointelegraph)
Legal Cases (ZyCrypto)
Attacks/Hacks/Scams (TB | CoinDesk | BIC | BIC | TB)
