BlackRock, Coinbase, Strategy and other leading financial institutions and Bitcoin companies have launched the Bitcoin Security Consortium, a new initiative focused on supporting the long-term security and resilience of the Bitcoin network. Its nine founding members have independently pledged an aggregate of $15 million over the next three years to support developers and researchers.
By Andrew Bennett Last week, BTC/USD made moderate attempts to advance before consolidating near 64,500.00. Overall, the market remains uncertain amid changing monetary policy expectations.
By Sagar Dua Last week, the BTC/USD pair rose above 64600.00, but today it gave up those gains and declined toward 62500.00 (Murray level [0/8]).
By John Isige Last week, the BTC/USD pair corrected upward and consolidated above the middle line of the Bollinger Bands at 62,500.00 (Murray level [0/8]) amid a reduced likelihood of further tightening in US Federal Reserve monetary policy after June US labour-market data showed signs of cooling. Non-farm payrolls declined from 129.0 thousand, revised down from 172.0 thousand, to 57.0 thousand, nearly half the preliminary estimate of 110.0 thousand. Unemployment fell from 4.3% to 4.2%, although this was largely driven by a decline in the labour-force participation rate. As a result, the US dollar weakened substantially against a broad range of alternative assets, while investor appetite for risk increased.
By John Isige Last week, BTC/USD declined and is currently testing 59,375.00 (Murray level [–1/8]), close to annual lows, under pressure from growing expectations of imminent monetary tightening by the US Federal Reserve, supported by incoming macroeconomic data.
By Andrew Bennett Franklin Templeton applies for two ETFs that reinvest dividends from U.S. stocks into Bitcoin exposure, combining equities with crypto.
By John Isige The BTC/USD pair managed to recover the positions it had previously lost after declining to a multi-month low of 59100.00, and during the Asian session it is holding near 65686.21. Despite the local rebound, the largest cryptocurrency by market capitalization still shows signs of a correction nearing completion. According to Glassnode analysts, most investors — more than 95.0% — who entered the market in recent months are currently recording losses, while demand has not yet managed to return to pre-crisis levels.
By John Isige CryptoQuant believes Bitcoin may be approaching a potential market bottom. However, weak demand and ongoing ETF outflows still argue against a fast recovery.
By John Isige Last week, BTC/USD declined steadily under the influence of monetary and geopolitical factors, renewing a multi-month low at 59100.00, while the dollar strengthened against alternative assets amid rising tensions in the Middle East and a higher probability of tighter monetary policy from the U.S. Federal Reserve.
