Adviser holdings in Bitcoin ETFs increase, though hedge fund stakes lessen according to Coinbase.
Chinese intervention in the crypto market might significantly influence Bitcoin’s pricing, potentially supplanting Janet Yellen’s $1 trillion crypto price theory. Politics still powerfully influence crypto sentiment, with Bitcoin remaining around the $60,000 mark.
Norwegian citizens now indirectly possess $27 worth of Bitcoin through the sovereign wealth fund’s increased crypto stake, raising questions about Bitcoin’s role in the world economy. Meanwhile, despite its price pause, Bitcoin attracts bullish sentiment among investors and long-term holders.
Goldman Sachs shows interest in Bitcoin ETFs, and a noticeable surge in institutional backing suggests Bitcoin’s importance in the global economy is changing. In contrast, the crypto market faces some issues with Trump’s policies affecting Bitcoin mining; however, Bitdeer unveils a $150M convertible notes offering with 8.5% yield, indicating a potential rebound. On the other hand,
JP Morgan analyst suggests that Bitcoin Mining profitability fell to record lows in August, prompting miners to shift towards Artificial Intelligence and High-Performance Computing. Simultaneously,
rumors about a U.S. crypto crackdown trigger fears even as Bitcoin bounces back in the market.
Bitcoin News Analytics from Thu, 09 May 2024 07:00:00 GMT to Mon, 19 Aug 2024 00:40:18 GMT -
Rating 5
- Innovation 3
- Information 7
- Rumor -2
