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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['TAIPEI , July 25, 2023 /PRNewswire/ -- XREX USD-crypto exchange has strengthened its compliance strategy to deliver an extra layer of security and transparency for users\' on-chain digital asset transactions by integrating transaction monitoring and investigative solutions from Chainalysis, the blockchain data platform. USD-crypto exchange XREX integrated Chainalysis\' blockchain analysis solutions to further platform safety. "We are delighted to share this progress on strengthening the robustness of XREX\'s platform," said Wayne Huang , internationally-recognized cybersecurity expert and XREX co-founder and CEO. "Chainalysis\' advanced technologies help us further strengthen our commitment of being one of the safest, and most compliant exchanges globally." As a compliant and secure fiat-crypto exchange operating globally under multiple licenses, registration, and approvals, XREX values mutual trust and long term relationships with all stakeholders. With internal risk control mechanisms and external support from credible service providers like Chainalysis, XREX helps both businesses and individuals to succeed in the crypto world and offers the best possible security to users\' digital assets. "XREX has implemented Chainalysis Reactor and Know Your Transaction (KYT) tools, which significantly enhanced our efficiency in scanning wallets, detecting potential risks, and mapping out the fund flow for further investigations." said Sun Huang , XREX Chief Information Security Officer and General Manager. Founded in 2014 as first movers and the largest player in the space, Chainalysis built the world\'s most trusted blockchain knowledge graph mapping hundreds of millions of on-chain addresses to real-world entities, including illicit services like darknet markets, scams, and ransomware, and legitimate services such as DeFi platforms, mining pools, and merchant services. "Building trust in the blockchain ecosystem is imperative to the growth of the industry. This requires advanced blockchain analysis backed by high-quality, extensive, ground-truth data that can enable exchanges to meet compliance obligations while staying ahead of financial crimes, protecting customers, increasing consumer trust and maintaining brand reputation. We are honored to be supporting XREX on their mission to be a safe, secure and compliant exchange for customers," said Joshua Foo , Regional Director, ASEAN & Central Asia , Chainalysis. Story continues Collaborating with global banking partners, XREX supports USD deposits and withdrawals in over 120 countries and directly offers USD trading pairs for BTC, ETH, and other crypto transactions. Security and compliance are major pillars behind XREX\'s smooth and reliable fiat and crypto services. Integrating Chainalysis\' blockchain analysis and tracing tools is just another step to fulfill this commitment. About XREX XREX is a blockchain-enabled financial institution working with banks, regulators, and users to redefine banking together. We provide enterprise-grade banking services to small to medium-sized businesses (SMBs) in or dealing with emerging markets, and novice-friendly financial services to individuals worldwide. Founded in 2018 and operating globally under multiple licenses, XREX offers a full suite of services such as digital asset custody, wallet, cross-border payment, fiat-crypto conversion, cryptocurrency exchange, asset management, and fiat currency on-off ramps. Sharing the social responsibility of financial inclusion, XREX leverages blockchain technologies to further financial participation, access, and education. About Chainalysis Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world\'s most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com . Cision View original content to download multimedia: https://www.prnewswire.com/apac/news-releases/xrex-enhances-platform-safety-with-advanced-blockchain-analysis--solutions-by-chainalysis-301884135.html SOURCE XREX Inc.', 'TAIPEI , July 25, 2023 /PRNewswire/ -- XREX USD-crypto exchange has strengthened its compliance strategy to deliver an extra layer of security and transparency for users\' on-chain digital asset transactions by integrating transaction monitoring and investigative solutions from Chainalysis, the blockchain data platform. USD-crypto exchange XREX integrated Chainalysis\' blockchain analysis solutions to further platform safety. "We are delighted to share this progress on strengthening the robustness of XREX\'s platform," said Wayne Huang , internationally-recognized cybersecurity expert and XREX co-founder and CEO. "Chainalysis\' advanced technologies help us further strengthen our commitment of being one of the safest, and most compliant exchanges globally." As a compliant and secure fiat-crypto exchange operating globally under multiple licenses, registration, and approvals, XREX values mutual trust and long term relationships with all stakeholders. With internal risk control mechanisms and external support from credible service providers like Chainalysis, XREX helps both businesses and individuals to succeed in the crypto world and offers the best possible security to users\' digital assets. "XREX has implemented Chainalysis Reactor and Know Your Transaction (KYT) tools, which significantly enhanced our efficiency in scanning wallets, detecting potential risks, and mapping out the fund flow for further investigations." said Sun Huang , XREX Chief Information Security Officer and General Manager. Founded in 2014 as first movers and the largest player in the space, Chainalysis built the world\'s most trusted blockchain knowledge graph mapping hundreds of millions of on-chain addresses to real-world entities, including illicit services like darknet markets, scams, and ransomware, and legitimate services such as DeFi platforms, mining pools, and merchant services. "Building trust in the blockchain ecosystem is imperative to the growth of the industry. This requires advanced blockchain analysis backed by high-quality, extensive, ground-truth data that can enable exchanges to meet compliance obligations while staying ahead of financial crimes, protecting customers, increasing consumer trust and maintaining brand reputation. We are honored to be supporting XREX on their mission to be a safe, secure and compliant exchange for customers," said Joshua Foo , Regional Director, ASEAN & Central Asia , Chainalysis. Story continues Collaborating with global banking partners, XREX supports USD deposits and withdrawals in over 120 countries and directly offers USD trading pairs for BTC, ETH, and other crypto transactions. Security and compliance are major pillars behind XREX\'s smooth and reliable fiat and crypto services. Integrating Chainalysis\' blockchain analysis and tracing tools is just another step to fulfill this commitment. About XREX XREX is a blockchain-enabled financial institution working with banks, regulators, and users to redefine banking together. We provide enterprise-grade banking services to small to medium-sized businesses (SMBs) in or dealing with emerging markets, and novice-friendly financial services to individuals worldwide. Founded in 2018 and operating globally under multiple licenses, XREX offers a full suite of services such as digital asset custody, wallet, cross-border payment, fiat-crypto conversion, cryptocurrency exchange, asset management, and fiat currency on-off ramps. Sharing the social responsibility of financial inclusion, XREX leverages blockchain technologies to further financial participation, access, and education. About Chainalysis Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world\'s most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com . Cision View original content to download multimedia: https://www.prnewswire.com/apac/news-releases/xrex-enhances-platform-safety-with-advanced-blockchain-analysis--solutions-by-chainalysis-301884135.html SOURCE XREX Inc.', 'Good morning. Here’s what’s happening:\nPrices:As Altcoin dominance reaches a multi-month high, Worldcoin\'s WLD token is up 30% on-launch. But the project comes with real world centralization and privacy concerns.\nInsights:\nCoinDesk Market Index (CMI)\n1,227\n−32.6▼2.6%\nBitcoin (BTC)\n$29,179\n−903.6▼3.0%\nEthereum (ETH)\n$1,850\n−38.9▼2.1%\nS&P 500\n4,554.64\n+18.3▲0.4%\nGold\n$1,956\n−8.3▼0.4%\nNikkei 225\n32,700.94\n+396.7▲1.2%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,227", "\\u221232.6\\u25bc2.6%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,179", "\\u2212903.6\\u25bc3.0%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,850", "\\u221238.9\\u25bc2.1%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,554.64", "+18.3\\u25b20.4%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,956", "\\u22128.3\\u25bc0.4%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,700.94", "+396.7\\u25b21.2%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nWorldcoin (WLD) Outperforms the Market\nAs Asia continues its trading week, bitcoin is opening Tuesday down 3% to $29,179, while ether is down 2.1% to $1,850.\nThe CoinDesk Market Index is down 2.6% to 1,227.\nAll the market wants to trade is Worldcoin (WLD).\nThe freshly launched token from the Sam Altman-affiliatedproject is up 30%in the last 24 hours as the marketlooks into the orb.\nWhile the Worldcoin-Altman brands are no doubt strong enough for a well-received launch, the market may be reacting as it is because ofaltcoin dominance.\nAccording to anew report by Kaiko, bitcoin\'s volume dominance has declined to its lowest level since April, at 27%, driven by a surge in altcoin trading following the Ripple ruling and regulatory changes, with the largest declines seen on offshore exchanges and a notable rise in altcoin activity on U.S. exchanges (WLD is banned for now in the U.S).\nThe question is, how long will this run last for? Crypto always loves a new shiny thing, but WLD has real-world privacy and centralization implications.\nEthereum co-founder Vitalik Buterin is alreadyraising concernsabout the project, which makes many wonder if it has long-term viability outside the initial market pump.\n[{"Asset": "XRP", "Ticker": "XRP", "Returns": "+3.4%", "DACS Sector": "Currency"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "+1.7%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "+1.0%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221218.2%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u221213.0%", "DACS Sector": "Computing"}, {"Asset": "Terra", "Ticker": "LUNA", "Returns": "\\u22126.6%", "DACS Sector": "Smart Contract Platform"}]\nRising BTC Investment Product Outflows\nWhat happened to all the good crypto vibes? At least one of them has disappeared. According to a CoinSharesreportMonday, Bitcoin (BTC) investment products suffered a $13 million outflow last week, reversing the trend of consecutive weeks of massive inflows as investors instead favored funds focusing on smaller cryptocurrencies such as ether (ETH) and Ripple’sXRP, crypto asset manager. Digital asset funds overall witnessed weekly outflows of $6.5 million after gaining $742 million of inflows through the previous four weeks. The trend turnabout came as BTC investors have seemingly run out of positive news to bid on after some major catalysts in recent weeks. Spot bitcoin ETF applications by BlackRock and other financial service giants are now June ghosts with a Securities and Exchange Commission approval unlikely any time soon and BTC\'s price languishing.\nMining Swinging Upward\nAfter a rough 2022, bitcoin mining is swinging upward, as CoinDesk analyst George Kaloudis writes. The bear market that sapped prices and publicly traded miners\' stocks tumbling has lessened this year. Crypto mining is now mostly healthy. Bitcoin network’s hashrate, a measure of the amount of computing power committed to running the network, shows a bountiful capacity with which to run crypto’s premier network. As of July 21, Bitcoin’s hashrate was400 exahash per second, up five-fold from June 2021. And a number of miners have returned to report healthy margins, especially those that have access to cheap energy like TeraWulf (WULF) and CipherMining (CIPHER), whose gross margins in Q1 2023 exceeded 60% (see below).\nMining Disrupt 2023 BTC Conference (Miami)\n4:00 p.m. HKT/SGT(8:00 UTC)ECB Banking Lending Survey\n10:00 p.m. HKT/SGT(14:00 UTC)United States Consumer Confidence (July)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nSam Altman’s Crypto Project Worldcoin Launches WLD Token, Mainnet; Bitcoin Starts Week in the Red\nSam Altman’s crypto project Worldcoin launched its WLD token and mainnet. Altman is the co-founder of Open AI, the company behind ChatGPT. Tiago Sada, Tools for Humanity head of product and Worldcoin core team member, joined "First Mover" to discuss. Defiance ETFs CEO Sylvia Jablonski shared her crypto markets analysis. And, CoinDesk\'s special mining week presented by Foundry is underway. Author and journalist Jeff Wilser discussed the AI pivot.\nThrough It All, the Bitcoin Mining Industry Looks Set for Growth:Though the Bitcoin halving will reduce rewards for miners, the prospects for the industry remain bright and innovations like Ordinals promise more demand for miner services in the future.\nElon Musk Rebrands Twitter to X, Spurring Scores of Wannabe Tokens:One token zoomed 1,200% even though its related project closed in May, data shows.\nWorldcoin\'s Mainnet, WLD Token Goes Live:Launch of the token comes alongside protocol launch and prior release of the wallet.\nMeet the Hong Kong Lawmaker Who Invited Coinbase to Town:Legislative Council member Johnny Ng is courting crypto exchanges to get licensed in the city as the U.S. drives digital asset firms offshore.\nPutin Signs Digital Ruble Law Making a CBDC Possible in Russia:The new law describes a legal framework for a central bank digital token', 'Good morning. Here’s what’s happening:\nPrices:As Altcoin dominance reaches a multi-month high, Worldcoin\'s WLD token is up 30% on-launch. But the project comes with real world centralization and privacy concerns.\nInsights:\nCoinDesk Market Index (CMI)\n1,227\n−32.6▼2.6%\nBitcoin (BTC)\n$29,179\n−903.6▼3.0%\nEthereum (ETH)\n$1,850\n−38.9▼2.1%\nS&P 500\n4,554.64\n+18.3▲0.4%\nGold\n$1,956\n−8.3▼0.4%\nNikkei 225\n32,700.94\n+396.7▲1.2%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,227", "\\u221232.6\\u25bc2.6%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,179", "\\u2212903.6\\u25bc3.0%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,850", "\\u221238.9\\u25bc2.1%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,554.64", "+18.3\\u25b20.4%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,956", "\\u22128.3\\u25bc0.4%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,700.94", "+396.7\\u25b21.2%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nWorldcoin (WLD) Outperforms the Market\nAs Asia continues its trading week, bitcoin is opening Tuesday down 3% to $29,179, while ether is down 2.1% to $1,850.\nThe CoinDesk Market Index is down 2.6% to 1,227.\nAll the market wants to trade is Worldcoin (WLD).\nThe freshly launched token from the Sam Altman-affiliatedproject is up 30%in the last 24 hours as the marketlooks into the orb.\nWhile the Worldcoin-Altman brands are no doubt strong enough for a well-received launch, the market may be reacting as it is because ofaltcoin dominance.\nAccording to anew report by Kaiko, bitcoin\'s volume dominance has declined to its lowest level since April, at 27%, driven by a surge in altcoin trading following the Ripple ruling and regulatory changes, with the largest declines seen on offshore exchanges and a notable rise in altcoin activity on U.S. exchanges (WLD is banned for now in the U.S).\nThe question is, how long will this run last for? Crypto always loves a new shiny thing, but WLD has real-world privacy and centralization implications.\nEthereum co-founder Vitalik Buterin is alreadyraising concernsabout the project, which makes many wonder if it has long-term viability outside the initial market pump.\n[{"Asset": "XRP", "Ticker": "XRP", "Returns": "+3.4%", "DACS Sector": "Currency"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "+1.7%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "+1.0%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221218.2%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u221213.0%", "DACS Sector": "Computing"}, {"Asset": "Terra", "Ticker": "LUNA", "Returns": "\\u22126.6%", "DACS Sector": "Smart Contract Platform"}]\nRising BTC Investment Product Outflows\nWhat happened to all the good crypto vibes? At least one of them has disappeared. According to a CoinSharesreportMonday, Bitcoin (BTC) investment products suffered a $13 million outflow last week, reversing the trend of consecutive weeks of massive inflows as investors instead favored funds focusing on smaller cryptocurrencies such as ether (ETH) and Ripple’sXRP, crypto asset manager. Digital asset funds overall witnessed weekly outflows of $6.5 million after gaining $742 million of inflows through the previous four weeks. The trend turnabout came as BTC investors have seemingly run out of positive news to bid on after some major catalysts in recent weeks. Spot bitcoin ETF applications by BlackRock and other financial service giants are now June ghosts with a Securities and Exchange Commission approval unlikely any time soon and BTC\'s price languishing.\nMining Swinging Upward\nAfter a rough 2022, bitcoin mining is swinging upward, as CoinDesk analyst George Kaloudis writes. The bear market that sapped prices and publicly traded miners\' stocks tumbling has lessened this year. Crypto mining is now mostly healthy. Bitcoin network’s hashrate, a measure of the amount of computing power committed to running the network, shows a bountiful capacity with which to run crypto’s premier network. As of July 21, Bitcoin’s hashrate was400 exahash per second, up five-fold from June 2021. And a number of miners have returned to report healthy margins, especially those that have access to cheap energy like TeraWulf (WULF) and CipherMining (CIPHER), whose gross margins in Q1 2023 exceeded 60% (see below).\nMining Disrupt 2023 BTC Conference (Miami)\n4:00 p.m. HKT/SGT(8:00 UTC)ECB Banking Lending Survey\n10:00 p.m. HKT/SGT(14:00 UTC)United States Consumer Confidence (July)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nSam Altman’s Crypto Project Worldcoin Launches WLD Token, Mainnet; Bitcoin Starts Week in the Red\nSam Altman’s crypto project Worldcoin launched its WLD token and mainnet. Altman is the co-founder of Open AI, the company behind ChatGPT. Tiago Sada, Tools for Humanity head of product and Worldcoin core team member, joined "First Mover" to discuss. Defiance ETFs CEO Sylvia Jablonski shared her crypto markets analysis. And, CoinDesk\'s special mining week presented by Foundry is underway. Author and journalist Jeff Wilser discussed the AI pivot.\nThrough It All, the Bitcoin Mining Industry Looks Set for Growth:Though the Bitcoin halving will reduce rewards for miners, the prospects for the industry remain bright and innovations like Ordinals promise more demand for miner services in the future.\nElon Musk Rebrands Twitter to X, Spurring Scores of Wannabe Tokens:One token zoomed 1,200% even though its related project closed in May, data shows.\nWorldcoin\'s Mainnet, WLD Token Goes Live:Launch of the token comes alongside protocol launch and prior release of the wallet.\nMeet the Hong Kong Lawmaker Who Invited Coinbase to Town:Legislative Council member Johnny Ng is courting crypto exchanges to get licensed in the city as the U.S. drives digital asset firms offshore.\nPutin Signs Digital Ruble Law Making a CBDC Possible in Russia:The new law describes a legal framework for a central bank digital token', 'Good morning. Here’s what’s happening: Prices: As Altcoin dominance reaches a multi-month high, Worldcoin\'s WLD token is up 30% on-launch. But the project comes with real world centralization and privacy concerns. Insights: Prices CoinDesk Market Index (CMI) 1,227 −32.6 ▼ 2.6% Bitcoin (BTC) $29,179 −903.6 ▼ 3.0% Ethereum (ETH) $1,850 −38.9 ▼ 2.1% S&P 500 4,554.64 +18.3 ▲ 0.4% Gold $1,956 −8.3 ▼ 0.4% Nikkei 225 32,700.94 +396.7 ▲ 1.2% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) CoinDesk Market Index (CMI) 1,227 −32.6 ▼ 2.6% Bitcoin (BTC) $29,179 −903.6 ▼ 3.0% Ethereum (ETH) $1,850 −38.9 ▼ 2.1% S&P 500 4,554.64 +18.3 ▲ 0.4% Gold $1,956 −8.3 ▼ 0.4% Nikkei 225 32,700.94 +396.7 ▲ 1.2% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Worldcoin (WLD) Outperforms the Market As Asia continues its trading week, bitcoin is opening Tuesday down 3% to $29,179, while ether is down 2.1% to $1,850. The CoinDesk Market Index is down 2.6% to 1,227. All the market wants to trade is Worldcoin (WLD). The freshly launched token from the Sam Altman-affiliated project is up 30% in the last 24 hours as the market looks into the orb . While the Worldcoin-Altman brands are no doubt strong enough for a well-received launch, the market may be reacting as it is because of altcoin dominance . According to a new report by Kaiko , bitcoin\'s volume dominance has declined to its lowest level since April, at 27%, driven by a surge in altcoin trading following the Ripple ruling and regulatory changes, with the largest declines seen on offshore exchanges and a notable rise in altcoin activity on U.S. exchanges (WLD is banned for now in the U.S). The question is, how long will this run last for? Crypto always loves a new shiny thing, but WLD has real-world privacy and centralization implications. Ethereum co-founder Vitalik Buterin is already raising concerns about the project, which makes many wonder if it has long-term viability outside the initial market pump. Biggest Gainers Asset Ticker Returns DACS Sector XRP XRP +3.4% Currency Solana SOL +1.7% Smart Contract Platform Avalanche AVAX +1.0% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Stellar XLM −18.2% Smart Contract Platform Chainlink LINK −13.0% Computing Terra LUNA −6.6% Smart Contract Platform Insights/News Rising BTC Investment Product Outflows What happened to all the good crypto vibes? At least one of them has disappeared. According to a CoinShares report Monday, Bitcoin ( BTC ) investment products suffered a $13 million outflow last week, reversing the trend of consecutive weeks of massive inflows as investors instead favored funds focusing on smaller cryptocurrencies such as ether ( ETH ) and Ripple’s XRP , crypto asset manager. Digital asset funds overall witnessed weekly outflows of $6.5 million after gaining $742 million of inflows through the previous four weeks. The trend turnabout came as BTC investors have seemingly run out of positive news to bid on after some major catalysts in recent weeks. Spot bitcoin ETF applications by BlackRock and other financial service giants are now June ghosts with a Securities and Exchange Commission approval unlikely any time soon and BTC\'s price languishing. Story continues Mining Swinging Upward After a rough 2022, bitcoin mining is swinging upward, as CoinDesk analyst George Kaloudis writes. The bear market that sapped prices and publicly traded miners\' stocks tumbling has lessened this year. Crypto mining is now mostly healthy. Bitcoin network’s hashrate, a measure of the amount of computing power committed to running the network, shows a bountiful capacity with which to run crypto’s premier network. As of July 21, Bitcoin’s hashrate was 400 exahash per second , up five-fold from June 2021. And a number of miners have returned to report healthy margins, especially those that have access to cheap energy like TeraWulf (WULF) and CipherMining (CIPHER), whose gross margins in Q1 2023 exceeded 60% (see below). Important events. Mining Disrupt 2023 BTC Conference (Miami) 4:00 p.m. HKT/SGT(8:00 UTC) ECB Banking Lending Survey 10:00 p.m. HKT/SGT(14:00 UTC) United States Consumer Confidence (July) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Sam Altman’s Crypto Project Worldcoin Launches WLD Token, Mainnet; Bitcoin Starts Week in the Red Sam Altman’s crypto project Worldcoin launched its WLD token and mainnet. Altman is the co-founder of Open AI, the company behind ChatGPT. Tiago Sada, Tools for Humanity head of product and Worldcoin core team member, joined "First Mover" to discuss. Defiance ETFs CEO Sylvia Jablonski shared her crypto markets analysis. And, CoinDesk\'s special mining week presented by Foundry is underway. Author and journalist Jeff Wilser discussed the AI pivot. Headlines Through It All, the Bitcoin Mining Industry Looks Set for Growth : Though the Bitcoin halving will reduce rewards for miners, the prospects for the industry remain bright and innovations like Ordinals promise more demand for miner services in the future. Elon Musk Rebrands Twitter to X, Spurring Scores of Wannabe Tokens : One token zoomed 1,200% even though its related project closed in May, data shows. Worldcoin\'s Mainnet, WLD Token Goes Live : Launch of the token comes alongside protocol launch and prior release of the wallet. Meet the Hong Kong Lawmaker Who Invited Coinbase to Town : Legislative Council member Johnny Ng is courting crypto exchanges to get licensed in the city as the U.S. drives digital asset firms offshore. Putin Signs Digital Ruble Law Making a CBDC Possible in Russia : The new law describes a legal framework for a central bank digital token View comments', 'Bitcoin fell on Tuesday morning in Asia along with most other leading cryptocurrencies as investors took a risk-averse approach on speculation the U.S. regulator will appeal a decision in the Ripple court case and the view the recent price gain on hopes for approval of a Bitcoin exchange-traded fund got ahead of itself. The Federal Reserve also announces its interest rate decision on Wednesday and while a hike is priced in, for some investors it’s another reason for caution. Gloom around China’s economy didn’t help. However, Dogecoin investors ignored these issues and the meme token gained after Twitter owner Elon Musk integrated its symbol into his Twitter bio on Monday as he rebrands the social media platform into “X”. Elsewhere, the Forkast 500 NFT index continued its slide and U.S. equity futures traded flat.\nBitcoin fell 2.92% over the last 24 hours to US$29,182 as of 07:35 a.m. in Hong Kong for a weekly loss of 3.14%, according todatafrom CoinMarketCap. The world’s largest cryptocurrency briefly traded below the US$29,000 mark on Monday evening for the first time in more than a month, or since June 21.\nEther dropped 1.98% to US$1,849 and moved down 3.25% for the week.\nWith the exception of Dogecoin, all other top 10 non-stablecoin cryptocurrencies logged losses, with Solana’s SOL leading the decliners with a 5.31% drop to US$23.46.\xa0 It has slumped 12.78% over the past seven days.\nThe price drops come as the bullish sentiment in the crypto market was offset by worries that the U.S. Securities and Exchange Commission (SEC) might file an appeal against the court ruling in theRipple case, said Justin d’Anethan, head of APAC business development at Belgium-based crypto market-makerKeyrock.\n“Rumours about CZ and the Binance [exchange] team potentially inflating some of their volumes,” added to the caution, said d’Anethan. “With investors always looking forward, the potential risks need to be accounted for and priced in.”\nThe Wall Street Journal on MondayreportedChangpeng Zhao, chief executive officer of the world’s largest crypto exchange Binance, hinted in an internal message that Binance affiliates conducted “wash trading” years ago, a practice where investors trade assets with themselves or an associate to inflate trading volumes and influence prices.\nBinance in an email response to Forkast News questions on Tuesday morning said: “Binance does not engage in or tolerate wash trading, which is a violation of our terms of use, nor has it ever done so.”\nThe comments, which were attributed to a Binance spokesperson who wasn’t identified, added: “Binance has a dedicated Market Surveillance team that is responsible for reviewing surveillance related to potential abusive and/or manipulative behavior including wash trades and trade price manipulation. The Market Surveillance team utilizes surveillance models and a team of experienced surveillance professionals to detect and prevent market abuse.”\nDogecoin, meantime, gained 3.54% to US$0.07447 and moved up 6.66% for the week.\nTwitter owner Elon Musk changed the blue bird logo of Twitter to X on Monday and switched his Twitter location to “𝕏Д, with “Д also used as a symbol for Dogecoin, raising speculation the meme token will be integrated into the rebranded social media platform.\nAmid the current selling pressure on most tokens, Matteo Greco, research analyst at Canada-based digital asset investment firmFineqia International, sees signs for longer-term optimism.\n“Despite a cautious attitude of investors in the short term, especially due to the rate hike expectations at the forthcomingFOMC meeting, the analysed metrics concerning BTC and ETH suggest a period of accumulation, with investors that are buying digital assets and holding for a long period looking for a price increase in the long run,” said Greco in email comments.\nThe total crypto market capitalization fell 2.48% in the past 24 hours to US$1.17 trillion, while trading volume rose 40.26% to US$35.5 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdipped 0.15% in the past 24 hours to 2,667.46 as of 10:00 a.m. in Hong Kong. Forkast’s Ethereum, Solana and Polygon NFT market indexes also moved lower, while the Cardano index gained.\nTotal NFT trading volume fell 4.49% in the past 24 hours to US$17.16 million, according to data fromCryptoSlam.\xa0 Volumes on the Ethereum, Polygon and Bitcoin networks also fell, while Solana, BNB Chain and Cardano logged increases.\n“It’s still an exceptionally slow time for NFTs, both with volume and sales,” said Yehudah Petscher, NFT Strategist at Forkast Labs. “Global sales mirror what Ethereum’s NFT sales were alone just a few months ago, during a time when NFTs were also considered slow. We just had no idea how much slower things could get.”\nBitcoin Ordinals, an NFT iteration on the Bitcoin blockchain, has seen an even bigger slowdown.Uncategorized Ordinals, whose trading volume totaled over US$100 million in March 2023, has seen only US$18.61 million so far in July.\n“Bitcoin’s ordinals ecosystem has suffered more than I was expecting, and that may be because trading BTC itself has taken priority,” said Petscher. “The blockchain that was once being discussed as having potential to flip Ethereum’s volume has now fallen to the 5th ranked blockchain by sales volume. This is where we see the chain’s limitations and lack of smart contracts as hindering innovation, when innovation is really the only way to deliver value in this market.”\nAmong all NFT collections, Ethereum-based Bored Ape Yacht Club topped the 24-hour trading volume, rising 60.61% to US$1.44 million.\nElsewhere, over 8,000Stan Lee-themed NFTshave been “near instantaneously” sold after their launch on July 18, according to a Tuesday announcement by the U.S. entertainment firm Kartoon Studios Inc. The studio issued the NFTs based on Lee – the famed comic book writer and co-creator of Spiderman and other Marvel Comic superheroes – in a partnership with VeVe Digital Collectibles.\nWith each NFT priced at US$15, sales of the Stan Lee NFT collection totaled about US$120,000, and showed there is still demand for certain assets despite the overall slow NFT market, Bloombergreportedon Tuesday. The floor price of the collection currently sits at US$53, more than three times higher than the listing price, according to thetrading platformof VeVe Digital Collectibles.\nU.S. stock futurestradedflat to lower as of 11:10 a.m. in Hong Kong, after all three major U.S. indexes closed higher in regular Monday trading, with the Dow Jones Industrial Average logging its longest winning streak in six years.\nIn Asia, the main stock indexes were mostly higher on Tuesday morning. China’sShanghai Composite, Hong Kong’sHang Sengand South Korea’sKospirose, while Japan’sNikkeimoved lower.\nStock markets in Hong Kong and mainland China found some optimism in aPolitburo meetingon Monday, which signaled more support for the country’s troubled property market and to boost consumption. However, the meeting did not unveil any specific large-scale stimulus to counter the country’sslow post-Covid economic recovery.\n“At present, the main challenge facing the investment markets in mainland China is lagging consumer confidence, primarily influenced by the slower recovery of the domestic real estate market,” Jason Yu, head of multi asset management at asset managerSchroders, said in an emailed comment on Monday.\n“Given that real estate investment constitutes a significant portion of the overall wealth of mainland China households, their caution towards spending and investing more is understandable when the future of the housing market looks uncertain,” said Yu.\nIn the U.S. the Federal Reserve is expected to raise interest rates by 25 basis points on Wednesday to between 5.25% to 5.50%, according to theCME FedWatch Tool. This will be the highest in 22 years, though the increase has been well signaled and priced in.\nEarnings are also in focus this week, with Microsoft, Alphabet and General Electric set to release second quarter results on Tuesday.\nOn the economic data front, the U.S. Composite Purchasing Managers Index (PMI) fell to 52.0 in July, the lowest level in five months, according to a Mondayreportby S&P Global. A reading above 50 indicates an expansion in business activities, while a reading below 50 a contraction.\nThe slowing in U.S. business activities in July could be seen as a positive by the Federal Reserve in its drive to curb inflation, Reutersreportedon Tuesday.\n(Updates with equity section.)', 'Bitcoin fell on Tuesday morning in Asia along with most other leading cryptocurrencies as investors took a risk-averse approach on speculation the U.S. regulator will appeal a decision in the Ripple court case and the view the recent price gain on hopes for approval of a Bitcoin exchange-traded fund got ahead of itself. The Federal Reserve also announces its interest rate decision on Wednesday and while a hike is priced in, for some investors it’s another reason for caution. Gloom around China’s economy didn’t help. However, Dogecoin investors ignored these issues and the meme token gained after Twitter owner Elon Musk integrated its symbol into his Twitter bio on Monday as he rebrands the social media platform into “X”. Elsewhere, the Forkast 500 NFT index continued its slide and U.S. equity futures traded flat.\nBitcoin fell 2.92% over the last 24 hours to US$29,182 as of 07:35 a.m. in Hong Kong for a weekly loss of 3.14%, according todatafrom CoinMarketCap. The world’s largest cryptocurrency briefly traded below the US$29,000 mark on Monday evening for the first time in more than a month, or since June 21.\nEther dropped 1.98% to US$1,849 and moved down 3.25% for the week.\nWith the exception of Dogecoin, all other top 10 non-stablecoin cryptocurrencies logged losses, with Solana’s SOL leading the decliners with a 5.31% drop to US$23.46.\xa0 It has slumped 12.78% over the past seven days.\nThe price drops come as the bullish sentiment in the crypto market was offset by worries that the U.S. Securities and Exchange Commission (SEC) might file an appeal against the court ruling in theRipple case, said Justin d’Anethan, head of APAC business development at Belgium-based crypto market-makerKeyrock.\n“Rumours about CZ and the Binance [exchange] team potentially inflating some of their volumes,” added to the caution, said d’Anethan. “With investors always looking forward, the potential risks need to be accounted for and priced in.”\nThe Wall Street Journal on MondayreportedChangpeng Zhao, chief executive officer of the world’s largest crypto exchange Binance, hinted in an internal message that Binance affiliates conducted “wash trading” years ago, a practice where investors trade assets with themselves or an associate to inflate trading volumes and influence prices.\nBinance in an email response to Forkast News questions on Tuesday morning said: “Binance does not engage in or tolerate wash trading, which is a violation of our terms of use, nor has it ever done so.”\nThe comments, which were attributed to a Binance spokesperson who wasn’t identified, added: “Binance has a dedicated Market Surveillance team that is responsible for reviewing surveillance related to potential abusive and/or manipulative behavior including wash trades and trade price manipulation. The Market Surveillance team utilizes surveillance models and a team of experienced surveillance professionals to detect and prevent market abuse.”\nDogecoin, meantime, gained 3.54% to US$0.07447 and moved up 6.66% for the week.\nTwitter owner Elon Musk changed the blue bird logo of Twitter to X on Monday and switched his Twitter location to “𝕏Д, with “Д also used as a symbol for Dogecoin, raising speculation the meme token will be integrated into the rebranded social media platform.\nAmid the current selling pressure on most tokens, Matteo Greco, research analyst at Canada-based digital asset investment firmFineqia International, sees signs for longer-term optimism.\n“Despite a cautious attitude of investors in the short term, especially due to the rate hike expectations at the forthcomingFOMC meeting, the analysed metrics concerning BTC and ETH suggest a period of accumulation, with investors that are buying digital assets and holding for a long period looking for a price increase in the long run,” said Greco in email comments.\nThe total crypto market capitalization fell 2.48% in the past 24 hours to US$1.17 trillion, while trading volume rose 40.26% to US$35.5 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdipped 0.15% in the past 24 hours to 2,667.46 as of 10:00 a.m. in Hong Kong. Forkast’s Ethereum, Solana and Polygon NFT market indexes also moved lower, while the Cardano index gained.\nTotal NFT trading volume fell 4.49% in the past 24 hours to US$17.16 million, according to data fromCryptoSlam.\xa0 Volumes on the Ethereum, Polygon and Bitcoin networks also fell, while Solana, BNB Chain and Cardano logged increases.\n“It’s still an exceptionally slow time for NFTs, both with volume and sales,” said Yehudah Petscher, NFT Strategist at Forkast Labs. “Global sales mirror what Ethereum’s NFT sales were alone just a few months ago, during a time when NFTs were also considered slow. We just had no idea how much slower things could get.”\nBitcoin Ordinals, an NFT iteration on the Bitcoin blockchain, has seen an even bigger slowdown.Uncategorized Ordinals, whose trading volume totaled over US$100 million in March 2023, has seen only US$18.61 million so far in July.\n“Bitcoin’s ordinals ecosystem has suffered more than I was expecting, and that may be because trading BTC itself has taken priority,” said Petscher. “The blockchain that was once being discussed as having potential to flip Ethereum’s volume has now fallen to the 5th ranked blockchain by sales volume. This is where we see the chain’s limitations and lack of smart contracts as hindering innovation, when innovation is really the only way to deliver value in this market.”\nAmong all NFT collections, Ethereum-based Bored Ape Yacht Club topped the 24-hour trading volume, rising 60.61% to US$1.44 million.\nElsewhere, over 8,000Stan Lee-themed NFTshave been “near instantaneously” sold after their launch on July 18, according to a Tuesday announcement by the U.S. entertainment firm Kartoon Studios Inc. The studio issued the NFTs based on Lee – the famed comic book writer and co-creator of Spiderman and other Marvel Comic superheroes – in a partnership with VeVe Digital Collectibles.\nWith each NFT priced at US$15, sales of the Stan Lee NFT collection totaled about US$120,000, and showed there is still demand for certain assets despite the overall slow NFT market, Bloombergreportedon Tuesday. The floor price of the collection currently sits at US$53, more than three times higher than the listing price, according to thetrading platformof VeVe Digital Collectibles.\nU.S. stock futurestradedflat to lower as of 11:10 a.m. in Hong Kong, after all three major U.S. indexes closed higher in regular Monday trading, with the Dow Jones Industrial Average logging its longest winning streak in six years.\nIn Asia, the main stock indexes were mostly higher on Tuesday morning. China’sShanghai Composite, Hong Kong’sHang Sengand South Korea’sKospirose, while Japan’sNikkeimoved lower.\nStock markets in Hong Kong and mainland China found some optimism in aPolitburo meetingon Monday, which signaled more support for the country’s troubled property market and to boost consumption. However, the meeting did not unveil any specific large-scale stimulus to counter the country’sslow post-Covid economic recovery.\n“At present, the main challenge facing the investment markets in mainland China is lagging consumer confidence, primarily influenced by the slower recovery of the domestic real estate market,” Jason Yu, head of multi asset management at asset managerSchroders, said in an emailed comment on Monday.\n“Given that real estate investment constitutes a significant portion of the overall wealth of mainland China households, their caution towards spending and investing more is understandable when the future of the housing market looks uncertain,” said Yu.\nIn the U.S. the Federal Reserve is expected to raise interest rates by 25 basis points on Wednesday to between 5.25% to 5.50%, according to theCME FedWatch Tool. This will be the highest in 22 years, though the increase has been well signaled and priced in.\nEarnings are also in focus this week, with Microsoft, Alphabet and General Electric set to release second quarter results on Tuesday.\nOn the economic data front, the U.S. Composite Purchasing Managers Index (PMI) fell to 52.0 in July, the lowest level in five months, according to a Mondayreportby S&P Global. A reading above 50 indicates an expansion in business activities, while a reading below 50 a contraction.\nThe slowing in U.S. business activities in July could be seen as a positive by the Federal Reserve in its drive to curb inflation, Reutersreportedon Tuesday.\n(Updates with equity section.)', 'Putin Bans Digital Assets as Payments While Granting Legal Tender to Digital Ruble Putin Approved a Bill That Makes the "Digital Ruble" Legal Tender Russian President Vladimir Putin has signed a bill into law that forbids the use of digital financial assets as payment for goods and services. A portion of an existing federal legislation on banks and banking activities is suspended by the bill, which was presented to the lower chamber of Parliament in June. As a result, it is now forbidden for people to use cryptocurrencies as payment methods. As part of the national payments system, the bill also established the idea of an "electronic platform" where digital financial assets are issued and transactions and acts are likely to be submitted to the Russian central bank\'s registry. This comes as Putin approved a bill that makes the "digital ruble" legal tender. The measure also describes how banks would function under the new framework and offers legal definitions for users. The central bank of Russia has been appointed to act as the platform operator for the central bank digital currency (CBDC). However, it won\'t likely be until 2025 at the earliest that the majority of people have access to online wallets. In contrast to a cryptocurrency like Bitcoin , the digital ruble is a centralized token with a value correlated to the national fiat currency. The measure was passed in the midst of harsh Western sanctions and soaring inflation spurred on by the war in Ukraine The central bank has said that loans or deposits cannot be made using the CBDC, and only payments or transfers are permitted.', 'Russian President Vladimir Putin has signed a bill into law that forbids the use of digital financial assets as payment for goods and services.\nA portion of an existing federal legislation on banks and banking activities is suspended by the bill, which was presented to the lower chamber of Parliament in June. As a result, it is now forbidden for people to use cryptocurrencies as payment methods.\nAs part of the national payments system, the bill also established the idea of an "electronic platform" where digital financial assets are issued and transactions and acts are likely to be submitted to the Russian central bank\'s registry.\nThis comes as Putin approved a bill that makes the "digital ruble" legal tender. The measure also describes how banks would function under the new framework and offers legal definitions for users.\nThe central bank of Russia has been appointed to act as the platform operator for thecentral bank digital currency(CBDC). However, it won\'t likely be until 2025 at the earliest that the majority of people have access to online wallets.\nIn contrast to a cryptocurrency likeBitcoin, the digital ruble is a centralized token with a value correlated to the national fiat currency. The measure was passed in the midst of harsh Western sanctions and soaring inflation spurred on by the war in Ukraine The central bank has said that loans or deposits cannot be made using the CBDC, and only payments or transfers are permitted.', "Bitcoin Short-Term Whales More Active: Glassnode Bitcoin Whales have increased exchange activity Data from analytics firm Glassnode shows that speculative investors, not institutional investors, are the ones driving the buying and selling of Bitcoin in 2023. The information reveals that the most active whales are also the group of investors with the highest volume, known as short-term holders, who hold coins for a maximum of 155 days. Across exchange inflows, short-term holder dominance has risen to 82%, which is much higher than the long-term range during the previous five years. This shows that whales involved in the 2023 market are largely responsible for the recent trading activity. Before May, there was already a clear interest in trading short-term movements on the BTC/USD pair. Since the start of 2023, investors have become more eager to capitalize on volatility in both the up and down directions. The outcomes have been inconsistent, with realized profits and losses frequently increasing along with erratic market swings. Whales have increased exchange activity, accounting for 41% of all inflows at one point in July. Mining pool Poolin also gained attention for its transactions to Binance, and it's possible that miners were hedging their earnings, which helped drive sell-side activity. View comments", "Datafrom analytics firm Glassnode shows that speculative investors, not institutional investors, are the ones driving the buying and selling ofBitcoinin 2023.\nThe information reveals that the most active whales are also the group of investors with the highest volume, known as short-term holders, who hold coins for a maximum of 155 days.\nAcross exchange inflows, short-term holder dominance has risen to 82%, which is much higher than the long-term range during the previous five years. This shows that whales involved in the 2023 market are largely responsible for the recent trading activity.\nBefore May, there was already a clear interest in trading short-term movements on the BTC/USD pair. Since the start of 2023, investors have become more eager to capitalize on volatility in both the up and down directions. The outcomes have been inconsistent, with realized pr
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-07-25
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $566,166,661,188
- Hash Rate: 369831574.5386234
- Transaction Count: 462586.0
- Unique Addresses: 734826.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Beware of the crypto fund bears.
For an eighth consecutive week, negative sentiment pervades among institutional investors. Large scale crypto investors pulled $88 million out of digital asset funds last week, bringing the total over the two month period to a whopping $417 million, according to anew reportby Coinshares.
Digital asset investment firm CoinShares follows the investment activity of important exchange-traded products, mutual funds, and over-the-counter (OTC) trusts, in cryptocurrencies such asBitcoin,Ethereumand other altcoins and publishes its findings in a weekly report.
James Butterfill, head of research at CoinShares, said he believes all the selling has been triggered by monetary policy. “Currently there is no end in sight to interest rates rises” hewroteon Tuesday.
Institutional Investors Have Pulled $329 Million From Crypto Funds Since April
Selling pressure this week is coming primarily from North America, which accounts for 87% of total outflows. Canadian-based fund 3iQ led the way, with $76.9 million worth of selling, bringing their total on the year to $286 million. In Europe, Swiss funds saw inflows worth $9.2 million, whereas Germany registered $9.4 million in outflows.
This week marks a notably more negative sentiment compared tolast week'srelatively neutral stance by institutional investors.
Among digital assets, Bitcoin led the week in outflows, clocking $52 million over the past seven days. It has been heavily sold by institutional investors this year, reaching an impressive $172 million. Short interest for the largest cryptocurrency fell, with outflows reaching a meager $1.1 million on the week.
'Ethereum Fails' Without These 3 Changes, Says Vitalik Buterin
Ethereumcame in second place for weekly outflows, totaling $36 million. That number, however, marks the largest single week of selling sinceThe Mergein September last year. Total withdrawals from Ethereum-based funds for 2023 now sits at $72 million.
Altcoin-based funds have been a mixed bag with institutional investors. Litecoin (LTC), Solana (SOL) and Ripple (XRP) tallied inflows, although all less than $1 million. Polygon (MATIC)-based funds saw the biggest sell-off on the week, at $400,000.
Interestingly, however, and in contrast to Bitcoin and Ethereum, these blue chip cryptocurrencies have seen inflows year-to-date, with Solana leading the way at $13 million. Although we can’t know for certain whether it’s led by institutional investors, the top cryptocurrencies have seen red candles for the week. Bitcoin lost 3.5% off its price in the past week, but Ethereum slid even further: It saw a 7.2% loss in the past seven days,accordingto Coingecko....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin traded flat on Wednesday morning in Asia as risk-aversion remained the market theme, though the token managed to hold above US$29,000. Analysts say a possible extended legal fight between the U.S. regulator and Ripple Labs as well as comments from the Federal Reserve on the interest rate outlook expected later today is breeding caution. Ether also treaded water, while other leading tokens were a mixed picture. Dogecoin led the winners again on speculation it may be integrated into Twitter as the social media app gets revamped into a more general-purpose platform. Elsewhere, the Forkast 500 NFT index dipped and U.S. equity futures traded mixed after Wall Street closed higher on Tuesday.\nBitcoin inched 0.14% higher over the last 24 hours to US$29,222 as of 07:35 a.m. in Hong Kong, but lost 2.07% for the week, according todatafrom CoinMarketCap. After briefly falling to a monthly low of US$28,890 on Monday, the world’s leading cryptocurrency has seemingly found support around US$29,000.\n“Several factors are currently affecting Bitcoin and cryptocurrencies, including concerns about theRipple case resumptionand investors’ speculation on Bitcoin investment funds,” Rania Gule, an analyst at Cyprus-headquartered multi-asset brokerXS Group, said in an emailed comment.\nThe market is keeping a close eye on the Federal Reserve’s interest rate decision, whilenegative headlinesabout Binance, the world’s largest digital currency exchange, contributed to price declines across crypto, Gule added.\n“The main trendline support currently stands at $26,800, and as long as Bitcoin remains above it, the trend is expected to be bullish,” said Gule.\nWilliam Cai, co-founder and managing partner at New York-based asset manager Wilshire Phoenix, said Bitcoin has been trading within a tight US$25,000 to US$30,000 range and is in search of a story and “a major Fed rate or language surprise this week could provide the impetus needed to break out.”\nReflecting the current lacklustre trend, CoinMarketCap’s fear and greed index, a measure of market buy and sell sentiment, fell further into neutral territory on Wednesday with a reading of 52.\nThe caution was reflected in digital asset investment products that saw net outflows of US$6.5 million in the week ending July 21, following four prior weeks of consecutive inflows that totaled US$742 million, according to a Mondayreportfrom European cryptocurrency investment firm CoinShares.\nTrading volumes in such investment products last week fell to US$1.2 billion, below the yearly average and down from US$2.4 billion the prior week, according to CoinShares. By regions, the U.S. and Canada saw 97% of the total outflows of US$21.7 million.\nBitcoin-backed investment products were the primary focus which saw US$13 million of outflows last week, while Ether-backed products logged an inflow of US$6.6 million, suggesting sentiment is improving around the second largest cryptocurrency.\nEther edged up 0.41% to US$1,857 in early trading in Asia on Wednesday, but remained 2.17% lower for the week.\nOther top 10 non-stablecoin cryptocurrencies traded mixed, with Dogecoin, XRP, and Tron’s TRX logging gains, while the rest declined. Polygon’s Matic led the losers, falling 2.84% to US$0.7081 and down 4.12% for the week.\nDogecoin again headed the winners list on optimism it could become a feature in Twitter’s rebranding to X.com, which will include functions such as “payments/banking,” according to Twitter Chief Executive OfficerLinda Yaccarinoon Monday.\n“Dogecoin rallied recently as speculation increased that the meme coin could be used as a payment mechanism for the rebranded Twitter platform,” said Markus Thielen, head of crypto research & strategy at digital asset service platformMatrixport, in an emailed comment.\n“As crypto is entering the summer lull that we initially expected for August, DOGE might be the summer’s highflyer as other crypto themes are taking a backseat.”\nThe total crypto market capitalization edged up 0.22% in the past 24 hours to US$1.17 trillion, while trading volume fell 27.41% to US$25.68 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdipped 0.60% in the past 24 hours to 2,642.91 as of 09:30 a.m. in Hong Kong, down 2.60% for the week. Forkast’s Ethereum, Solana and Polygon NFT market indexes also logged losses, while the Cardano index edged higher.\nTotal NFT trading volume dipped 2.90% in the past 24 hours to US$17.77 million, according to data fromCryptoSlam.\xa0 Volumes on the Polygon Solana and Bitcoin networks rose, while Ethereum, BNB Chain and Cardano logged losses\nBy NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour trading volumes, though total trades fell 39.79% to around US$695,000.\n“It’s another slow day in the NFT market, with a majority of NFT trades still being wash trades, or sellers accepting points farmers offer on Blur,” said Yehudah Petscher, NFT Strategist at Forkast Labs.\nThe floor prices of leading Ethereum NFT collections Bored Ape Yacht Club and Mutant Ape Yacht Club (MAYC) have dropped 18% and 25% in the past 30 days, while trading volumes in the two collections over the same period slumped 80% and 67% respectively, according to NFT data trackerWGMI.io.\n“There’s nothing happening out there to make buyers want to buy NFTs at the prices they’re at still. Really, they’re massively overpriced even after declining over the year,” said Petscher.\nYuga Labs, the developer of BAYC and MAYC,launched“Made by Apes” on Tuesday – a platform that grants BAYC and MAYC holders unique on-chain licences for their own products or services featuring the ape-themed NFTs.\nBAYC holders have already been building businesses around their collections, includingfast food,clothing, andbeverageoperations, and more brands are using BAYC in promotions.\n“During this bear market we are seeing actual utility begin to get fleshed out like with Yuga Labs’ new fully on-chain IP licensing platform,” said Petscher.\nElsewhere, Sky Mavis, the Vietnam-based developer behind play-to-earn NFT gameAxie Infinity,announceda partnership with NFT project CyberKongz on Tuesday, where the two will jointly develop an NFT game based on CyberKongz’s incoming Genkai NFT collection.\nU.S. stock futurestradedmixed as of 11:30 a.m. on Wednesday in Hong Kong, with Dow Jones and Nasdaq futures inching lower, while S&P 500 futures edged up.\nAll three major U.S. indexes closed higher in regular Tuesday trading, with the Dow Jones Industrial Average logging gains for the 12th consecutive day, extending its longest winning streak in six years.\nIn Asia, the main stock indexes fell on Wednesday ahead of the U.S. Federal Reserve’s interest rate announcement later today. China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospiand Japan’sNikkeiall logged losses.\nAlthough a ChinaPolitburo meetingon Monday pledged policies to support the country’s ailing property market and revive domestic consumption, China’s stock market requires imminent and actionable measures from the government,Bloombergreported on Tuesday citing a note by U.S. investment bank Morgan Stanley.\nThe U.S. Fed announces its interest rate decision on Wednesday with analysts at theCME FedWatch Toolpredicting a 98.9% chance for a 25-basis-point rate hike this month.\nWith a rise in rates mostly priced into markets, the focus of attention will be comments by Fed chair Jerome Powell on how the central bank views inflation trends, offering some pointers on future monetary policies.\nThe current Fed under Powell has raised rates 10 times since March 2022 to tackle inflation that was running at 40-year highs last year. The annual inflation rate has sincefallen to 3%in June from more than 9% last year.\nHowever, with inflation still above the Fed’s target of 2%, economists forecast more potential hikes this year based onrecent commentsby Powell.\nOn the economic data front, the U.S. consumer confidence index hit a two-year high in July, according to the U.S. think tankConference Boardon Tuesday, “likely reflecting lower inflation and a tight labor market.”\nThe consumer confidence index, together with data on inflation, the housing market and retail sales, contributed to the optimism that the U.S. economy could avoid a recession in 2023,Reutersreported on Wednesday.\n(Updates with equity section, adds fear and greed index in first section.)', 'Bitcoin traded flat on Wednesday morning in Asia as risk-aversion remained the market theme, though the token managed to hold above US$29,000. Analysts say a possible extended legal fight between the U.S. regulator and Ripple Labs as well as comments from the Federal Reserve on the interest rate outlook expected later today is breeding caution. Ether also treaded water, while other leading tokens were a mixed picture. Dogecoin led the winners again on speculation it may be integrated into Twitter as the social media app gets revamped into a more general-purpose platform. Elsewhere, the Forkast 500 NFT index dipped and U.S. equity futures traded mixed after Wall Street closed higher on Tuesday.\nBitcoin inched 0.14% higher over the last 24 hours to US$29,222 as of 07:35 a.m. in Hong Kong, but lost 2.07% for the week, according todatafrom CoinMarketCap. After briefly falling to a monthly low of US$28,890 on Monday, the world’s leading cryptocurrency has seemingly found support around US$29,000.\n“Several factors are currently affecting Bitcoin and cryptocurrencies, including concerns about theRipple case resumptionand investors’ speculation on Bitcoin investment funds,” Rania Gule, an analyst at Cyprus-headquartered multi-asset brokerXS Group, said in an emailed comment.\nThe market is keeping a close eye on the Federal Reserve’s interest rate decision, whilenegative headlinesabout Binance, the world’s largest digital currency exchange, contributed to price declines across crypto, Gule added.\n“The main trendline support currently stands at $26,800, and as long as Bitcoin remains above it, the trend is expected to be bullish,” said Gule.\nWilliam Cai, co-founder and managing partner at New York-based asset manager Wilshire Phoenix, said Bitcoin has been trading within a tight US$25,000 to US$30,000 range and is in search of a story and “a major Fed rate or language surprise this week could provide the impetus needed to break out.”\nReflecting the current lacklustre trend, CoinMarketCap’s fear and greed index, a measure of market buy and sell sentiment, fell further into neutral territory on Wednesday with a reading of 52.\nThe caution was reflected in digital asset investment products that saw net outflows of US$6.5 million in the week ending July 21, following four prior weeks of consecutive inflows that totaled US$742 million, according to a Mondayreportfrom European cryptocurrency investment firm CoinShares.\nTrading volumes in such investment products last week fell to US$1.2 billion, below the yearly average and down from US$2.4 billion the prior week, according to CoinShares. By regions, the U.S. and Canada saw 97% of the total outflows of US$21.7 million.\nBitcoin-backed investment products were the primary focus which saw US$13 million of outflows last week, while Ether-backed products logged an inflow of US$6.6 million, suggesting sentiment is improving around the second largest cryptocurrency.\nEther edged up 0.41% to US$1,857 in early trading in Asia on Wednesday, but remained 2.17% lower for the week.\nOther top 10 non-stablecoin cryptocurrencies traded mixed, with Dogecoin, XRP, and Tron’s TRX logging gains, while the rest declined. Polygon’s Matic led the losers, falling 2.84% to US$0.7081 and down 4.12% for the week.\nDogecoin again headed the winners list on optimism it could become a feature in Twitter’s rebranding to X.com, which will include functions such as “payments/banking,” according to Twitter Chief Executive OfficerLinda Yaccarinoon Monday.\n“Dogecoin rallied recently as speculation increased that the meme coin could be used as a payment mechanism for the rebranded Twitter platform,” said Markus Thielen, head of crypto research & strategy at digital asset service platformMatrixport, in an emailed comment.\n“As crypto is entering the summer lull that we initially expected for August, DOGE might be the summer’s highflyer as other crypto themes are taking a backseat.”\nThe total crypto market capitalization edged up 0.22% in the past 24 hours to US$1.17 trillion, while trading volume fell 27.41% to US$25.68 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdipped 0.60% in the past 24 hours to 2,642.91 as of 09:30 a.m. in Hong Kong, down 2.60% for the week. Forkast’s Ethereum, Solana and Polygon NFT market indexes also logged losses, while the Cardano index edged higher.\nTotal NFT trading volume dipped 2.90% in the past 24 hours to US$17.77 million, according to data fromCryptoSlam.\xa0 Volumes on the Polygon Solana and Bitcoin networks rose, while Ethereum, BNB Chain and Cardano logged losses\nBy NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour trading volumes, though total trades fell 39.79% to around US$695,000.\n“It’s another slow day in the NFT market, with a majority of NFT trades still being wash trades, or sellers accepting points farmers offer on Blur,” said Yehudah Petscher, NFT Strategist at Forkast Labs.\nThe floor prices of leading Ethereum NFT collections Bored Ape Yacht Club and Mutant Ape Yacht Club (MAYC) have dropped 18% and 25% in the past 30 days, while trading volumes in the two collections over the same period slumped 80% and 67% respectively, according to NFT data trackerWGMI.io.\n“There’s nothing happening out there to make buyers want to buy NFTs at the prices they’re at still. Really, they’re massively overpriced even after declining over the year,” said Petscher.\nYuga Labs, the developer of BAYC and MAYC,launched“Made by Apes” on Tuesday – a platform that grants BAYC and MAYC holders unique on-chain licences for their own products or services featuring the ape-themed NFTs.\nBAYC holders have already been building businesses around their collections, includingfast food,clothing, andbeverageoperations, and more brands are using BAYC in promotions.\n“During this bear market we are seeing actual utility begin to get fleshed out like with Yuga Labs’ new fully on-chain IP licensing platform,” said Petscher.\nElsewhere, Sky Mavis, the Vietnam-based developer behind play-to-earn NFT gameAxie Infinity,announceda partnership with NFT project CyberKongz on Tuesday, where the two will jointly develop an NFT game based on CyberKongz’s incoming Genkai NFT collection.\nU.S. stock futurestradedmixed as of 11:30 a.m. on Wednesday in Hong Kong, with Dow Jones and Nasdaq futures inching lower, while S&P 500 futures edged up.\nAll three major U.S. indexes closed higher in regular Tuesday trading, with the Dow Jones Industrial Average logging gains for the 12th consecutive day, extending its longest winning streak in six years.\nIn Asia, the main stock indexes fell on Wednesday ahead of the U.S. Federal Reserve’s interest rate announcement later today. China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospiand Japan’sNikkeiall logged losses.\nAlthough a ChinaPolitburo meetingon Monday pledged policies to support the country’s ailing property market and revive domestic consumption, China’s stock market requires imminent and actionable measures from the government,Bloombergreported on Tuesday citing a note by U.S. investment bank Morgan Stanley.\nThe U.S. Fed announces its interest rate decision on Wednesday with analysts at theCME FedWatch Toolpredicting a 98.9% chance for a 25-basis-point rate hike this month.\nWith a rise in rates mostly priced into markets, the focus of attention will be comments by Fed chair Jerome Powell on how the central bank views inflation trends, offering some pointers on future monetary policies.\nThe current Fed under Powell has raised rates 10 times since March 2022 to tackle inflation that was running at 40-year highs last year. The annual inflation rate has sincefallen to 3%in June from more than 9% last year.\nHowever, with inflation still above the Fed’s target of 2%, economists forecast more potential hikes this year based onrecent commentsby Powell.\nOn the economic data front, the U.S. consumer confidence index hit a two-year high in July, according to the U.S. think tankConference Boardon Tuesday, “likely reflecting lower inflation and a tight labor market.”\nThe consumer confidence index, together with data on inflation, the housing market and retail sales, contributed to the optimism that the U.S. economy could avoid a recession in 2023,Reutersreported on Wednesday.\n(Updates with equity section, adds fear and greed index in first section.)', 'Bitcoin traded flat on Wednesday morning in Asia as risk-aversion remained the market theme, though the token managed to hold above US$29,000. Analysts say a possible extended legal fight between the U.S. regulator and Ripple Labs as well as comments from the Federal Reserve on the interest rate outlook expected later today is breeding caution. Ether also treaded water, while other leading tokens were a mixed picture. Dogecoin led the winners again on speculation it may be integrated into Twitter as the social media app gets revamped into a more general-purpose platform. Elsewhere, the Forkast 500 NFT index dipped and U.S. equity futures traded mixed after Wall Street closed higher on Tuesday. Bitcoin lacking catalysts Bitcoin inched 0.14% higher over the last 24 hours to US$29,222 as of 07:35 a.m. in Hong Kong, but lost 2.07% for the week, according to data from CoinMarketCap. After briefly falling to a monthly low of US$28,890 on Monday, the world’s leading cryptocurrency has seemingly found support around US$29,000. “Several factors are currently affecting Bitcoin and cryptocurrencies, including concerns about the Ripple case resumption and investors’ speculation on Bitcoin investment funds,” Rania Gule, an analyst at Cyprus-headquartered multi-asset broker XS Group , said in an emailed comment. The market is keeping a close eye on the Federal Reserve’s interest rate decision, while negative headlines about Binance, the world’s largest digital currency exchange, contributed to price declines across crypto, Gule added. “The main trendline support currently stands at $26,800, and as long as Bitcoin remains above it, the trend is expected to be bullish,” said Gule. William Cai, co-founder and managing partner at New York-based asset manager Wilshire Phoenix, said Bitcoin has been trading within a tight US$25,000 to US$30,000 range and is in search of a story and “a major Fed rate or language surprise this week could provide the impetus needed to break out.” Reflecting the current lacklustre trend, CoinMarketCap’s fear and greed index, a measure of market buy and sell sentiment, fell further into neutral territory on Wednesday with a reading of 52. The caution was reflected in digital asset investment products that saw net outflows of US$6.5 million in the week ending July 21, following four prior weeks of consecutive inflows that totaled US$742 million, according to a Monday report from European cryptocurrency investment firm CoinShares. Trading volumes in such investment products last week fell to US$1.2 billion, below the yearly average and down from US$2.4 billion the prior week, according to CoinShares. By regions, the U.S. and Canada saw 97% of the total outflows of US$21.7 million. Story continues Bitcoin-backed investment products were the primary focus which saw US$13 million of outflows last week, while Ether-backed products logged an inflow of US$6.6 million, suggesting sentiment is improving around the second largest cryptocurrency. Ether edged up 0.41% to US$1,857 in early trading in Asia on Wednesday, but remained 2.17% lower for the week. Other top 10 non-stablecoin cryptocurrencies traded mixed, with Dogecoin, XRP, and Tron’s TRX logging gains, while the rest declined. Polygon’s Matic led the losers, falling 2.84% to US$0.7081 and down 4.12% for the week. Dogecoin again headed the winners list on optimism it could become a feature in Twitter’s rebranding to X.com, which will include functions such as “payments/banking,” according to Twitter Chief Executive Officer Linda Yaccarino on Monday. “Dogecoin rallied recently as speculation increased that the meme coin could be used as a payment mechanism for the rebranded Twitter platform,” said Markus Thielen, head of crypto research & strategy at digital asset service platform Matrixport , in an emailed comment. “As crypto is entering the summer lull that we initially expected for August, DOGE might be the summer’s highflyer as other crypto themes are taking a backseat.” The total crypto market capitalization edged up 0.22% in the past 24 hours to US$1.17 trillion, while trading volume fell 27.41% to US$25.68 billion. Forkast 500 dips, Axie Infinity developer to make NFT game with CyberKongz The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index dipped 0.60% in the past 24 hours to 2,642.91 as of 09:30 a.m. in Hong Kong, down 2.60% for the week. Forkast’s Ethereum, Solana and Polygon NFT market indexes also logged losses, while the Cardano index edged higher. Total NFT trading volume dipped 2.90% in the past 24 hours to US$17.77 million, according to data from CryptoSlam .\xa0 Volumes on the Polygon Solana and Bitcoin networks rose, while Ethereum, BNB Chain and Cardano logged losses By NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour trading volumes, though total trades fell 39.79% to around US$695,000. “It’s another slow day in the NFT market, with a majority of NFT trades still being wash trades, or sellers accepting points farmers offer on Blur,” said Yehudah Petscher, NFT Strategist at Forkast Labs. The floor prices of leading Ethereum NFT collections Bored Ape Yacht Club and Mutant Ape Yacht Club (MAYC) have dropped 18% and 25% in the past 30 days, while trading volumes in the two collections over the same period slumped 80% and 67% respectively, according to NFT data tracker WGMI.io . “There’s nothing happening out there to make buyers want to buy NFTs at the prices they’re at still. Really, they’re massively overpriced even after declining over the year,” said Petscher. Yuga Labs, the developer of BAYC and MAYC, launched “Made by Apes” on Tuesday – a platform that grants BAYC and MAYC holders unique on-chain licences for their own products or services featuring the ape-themed NFTs. BAYC holders have already been building businesses around their collections, including fast food , clothing , and beverage operations, and more brands are using BAYC in promotions. “During this bear market we are seeing actual utility begin to get fleshed out like with Yuga Labs’ new fully on-chain IP licensing platform,” said Petscher. Elsewhere, Sky Mavis, the Vietnam-based developer behind play-to-earn NFT game Axie Infinity , announced a partnership with NFT project CyberKongz on Tuesday, where the two will jointly develop an NFT game based on CyberKongz’s incoming Genkai NFT collection. U.S. equity futures stall ahead of Fed move Federal Reserve Chair Jerome Powell|Image: Getty Images U.S. stock futures traded mixed as of 11:30 a.m. on Wednesday in Hong Kong, with Dow Jones and Nasdaq futures inching lower, while S&P 500 futures edged up. All three major U.S. indexes closed higher in regular Tuesday trading, with the Dow Jones Industrial Average logging gains for the 12th consecutive day, extending its longest winning streak in six years. In Asia, the main stock indexes fell on Wednesday ahead of the U.S. Federal Reserve’s interest rate announcement later today. China’s Shanghai Composite , Hong Kong’s Hang Seng , South Korea’s Kospi and Japan’s Nikkei all logged losses. Although a China Politburo meeting on Monday pledged policies to support the country’s ailing property market and revive domestic consumption, China’s stock market requires imminent and actionable measures from the government, Bloomberg reported on Tuesday citing a note by U.S. investment bank Morgan Stanley. The U.S. Fed announces its interest rate decision on Wednesday with analysts at the CME FedWatch Tool predicting a 98.9% chance for a 25-basis-point rate hike this month. With a rise in rates mostly priced into markets, the focus of attention will be comments by Fed chair Jerome Powell on how the central bank views inflation trends, offering some pointers on future monetary policies. The current Fed under Powell has raised rates 10 times since March 2022 to tackle inflation that was running at 40-year highs last year. The annual inflation rate has since fallen to 3% in June from more than 9% last year. However, with inflation still above the Fed’s target of 2%, economists forecast more potential hikes this year based on recent comments by Powell. On the economic data front, the U.S. consumer confidence index hit a two-year high in July, according to the U.S. think tank Conference Board on Tuesday, “likely reflecting lower inflation and a tight labor market.” The consumer confidence index, together with data on inflation, the housing market and retail sales, contributed to the optimism that the U.S. economy could avoid a recession in 2023, Reuters reported on Wednesday. (Updates with equity section, adds fear and greed index in first section.) View comments', 'Good morning. Here’s what’s happening:\nPrices:Bitcoin, which was trading near $29.2, has resisted the influences of recent macroeconomic events, but may find its missing catalyst in a possible spot BTC ETF, says Mao Shixing, co-founder and CEO of custodian Cobo.\nInsights:Even as bitcoin shrugs off macroeconomic events, at least one indicator is pointing up, writes CoinDesk analyst Glenn Williams. Also, Tribe Capital\'s Boris Revsin sees a DeFi resurgence.\nCoinDesk Market Index (CMI)\n1,228\n+2.8▲0.2%\nBitcoin (BTC)\n$29,167\n+45.0▲0.2%\nEthereum (ETH)\n$1,856\n+7.1▲0.4%\nS&P 500\n4,567.46\n+12.8▲0.3%\nGold\n$1,966\n+6.1▲0.3%\nNikkei 225\n32,682.51\n−18.4▼0.1%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,228", "+2.8\\u25b20.2%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,167", "+45.0\\u25b20.2%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,856", "+7.1\\u25b20.4%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,567.46", "+12.8\\u25b20.3%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,966", "+6.1\\u25b20.3%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,682.51", "\\u221218.4\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nCrypto Opens Flat in Asia; Bitcoin Is Shy of $30K\nMarkets in Asia aren’t moving much as the region begins its trading day.\nBitcoin is up 0.2% to $29,167, according to CoinDesk data, while ether is up 0.4% to $1,856.\n“At present, the cryptocurrency market is in a phase lacking a coherent narrative logic, heavily influenced by macro and regulatory factors. One significant influencing factor is the application of traditional institutions for a Bitcoin ETF,” Mao Shixing, co-founder and CEO of custodian Cobo told CoinDesk in a note.\nGrayscale\'s influx of US dollars sparked a Bitcoin rally in 2021 and 2022, and with traditional financial institutions likely to receive approval for cryptocurrency spot ETFs by Q1 of 2024, he said in the note while anticipating that the launch of one or two ETFs with substantial liquidity, reestablishing compliant funding channels in North America.\n“When a large number of ETFs are approved, from the perspective of traditional asset allocation or risk aversion, directly purchasing ETFs from these brokerage banks means a substantial amount of funds will flow into major assets like Bitcoin and Ethereum,” he said.\n“This will be a crucial event.”\nVivien Fang, head of financial products at Bybit, said that liquidity volatile and uncertain “it’s still too early to call for a bull market in digital assets.”\n“This is because many central banks are still tightening, and China’s policy is still unclear,” she continued. “However, these ranges represent excellent accumulation zones for those with a long-term outlook.”\nMeanwhile,Coinglass datashows that in the last 12 hours, $15.45 million of shorts have been liquidated in comparison to $10.73 million in longs.\n[{"Asset": "XRP", "Ticker": "XRP", "Returns": "+9.9%", "DACS Sector": "Currency"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "+8.5%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Gala", "Ticker": "GALA", "Returns": "+7.5%", "DACS Sector": "Entertainment"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221210.7%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u22129.1%", "DACS Sector": "Computing"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u22128.6%", "DACS Sector": "Currency"}]\nBTC Is Tame but at Least One Indicator Is Pointing Upward\nCrypto markets aren\'t reacting the same way they once did to macroeconomic events. Consider the two most recent U.S. central bank interest rate hikes in May and March. They resulted in relatively mild price moves of 1.13% and -2.87%. The reaction to recent inflation and GDP data was similarly tame, with BTC moving just -0.74% and 1.16% respectively. All told, crypto markets have likely priced in Wednesday’s anticipated move. More interesting for traders is BTC’s price declining below the lower range of its Bollinger Bands, indicating that its price could move higher – albeit just slightly. Bollinger Bands are a technical indicator that tracks an asset’s 20-day moving average, and plots price levels two standard deviations above and below the average. As an asset’s price is expected to stay within two standard deviations of its average, 95% of the time, a breach of the external bands is statistically significant. Traders may be eyeing an upside target of $30,000 level, above the current support of $29,000.\nIs a DeFi Resurgence in the Offing\nIn the summer of 2020, decentralized finance (DeFi) projects flourished, reaching a high of $248.84 billion in total value locked by the following fall. The sector lost its allure amid the crypto winter. Now can DeFi recover some of its former glory? Boris Revsin, managing partner of Tribe Capital, an investment firm with over $1.6 billion in assets under management, thinks it can as more infrastructure gets developed in more open markets outside the U.S., making it easier to create new projects. “I expect DeFi to have a major resurgence towards the end of this year or early next year,” Revsin told CoinDesk during a recent interview.\nMining Disrupt BTC Conference (Miami, Florida)\n9:30 a.m. HKT/SGT(1:30 UTC)Australia Monthly Consumer Price Index (YoY/June)\n2:00 a.m. HKT/SGT(18:00 UTC)United States Fed Interest Rate Decision\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nWorldcoin\'s Token Erases Initial Gains; How Could FedNow Impact the Crypto Sector?\nThe crypto token tied to the Worldcoin identity-verification project was paring gains after its launch. Galaxy global head of asset management Steve Kurz shared his crypto markets analysis ahead of a key U.S. interest rate decision. The Federal Reserve opened its new instant payments service, FedNow, last week. Aaron Klein, Brookings Institution senior fellow in economic studies weighed in on what this could mean for the digital assets space. And, Gridless co-founder Erik Hersman explained how his company is extending power to rural Africa.\nBitcoin Breaks Below Key Technical Indicator, but Appears Poised to Continue Its Flat Trajectory:Wednesday’s Federal Reserve likely decision to raise the interest rate 25 basis points appears to be priced into crypto markets.\nVenture Capital Firm a16z Unloads $7M of MKR Tokens as Price Soars:Lending platform Maker’s governance tokens soared to near one-year high prices last week prior to the sales.\nDeFi Headed Toward a ‘Major Resurgence,’ Tribe Capital’s Boris Revsin Says:The managing partner of the $1.6 billion investment firm says infrastructure is the key to transforming crypto into a $10 trillion industry.\nElon Musk’s Twitter Overhaul Could Be Huge for DOGE and Crypto Generally:“Elon clearly has an affinity for DOGE, almost as part of a running joke, but I wouldn’t be surprised if he actually went through with enabling payments via DOGE.”\nIs It Finally Time to ‘X-it’ Twitter For Threads?:Meta\'s Threads hopes to swoop in and capture Web3 users that are looking for social media alternatives. But does the app have what crypto natives are looking for?', 'Good morning. Here’s what’s happening:\nPrices:Bitcoin, which was trading near $29.2, has resisted the influences of recent macroeconomic events, but may find its missing catalyst in a possible spot BTC ETF, says Mao Shixing, co-founder and CEO of custodian Cobo.\nInsights:Even as bitcoin shrugs off macroeconomic events, at least one indicator is pointing up, writes CoinDesk analyst Glenn Williams. Also, Tribe Capital\'s Boris Revsin sees a DeFi resurgence.\nCoinDesk Market Index (CMI)\n1,228\n+2.8▲0.2%\nBitcoin (BTC)\n$29,167\n+45.0▲0.2%\nEthereum (ETH)\n$1,856\n+7.1▲0.4%\nS&P 500\n4,567.46\n+12.8▲0.3%\nGold\n$1,966\n+6.1▲0.3%\nNikkei 225\n32,682.51\n−18.4▼0.1%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,228", "+2.8\\u25b20.2%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,167", "+45.0\\u25b20.2%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,856", "+7.1\\u25b20.4%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,567.46", "+12.8\\u25b20.3%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,966", "+6.1\\u25b20.3%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,682.51", "\\u221218.4\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nCrypto Opens Flat in Asia; Bitcoin Is Shy of $30K\nMarkets in Asia aren’t moving much as the region begins its trading day.\nBitcoin is up 0.2% to $29,167, according to CoinDesk data, while ether is up 0.4% to $1,856.\n“At present, the cryptocurrency market is in a phase lacking a coherent narrative logic, heavily influenced by macro and regulatory factors. One significant influencing factor is the application of traditional institutions for a Bitcoin ETF,” Mao Shixing, co-founder and CEO of custodian Cobo told CoinDesk in a note.\nGrayscale\'s influx of US dollars sparked a Bitcoin rally in 2021 and 2022, and with traditional financial institutions likely to receive approval for cryptocurrency spot ETFs by Q1 of 2024, he said in the note while anticipating that the launch of one or two ETFs with substantial liquidity, reestablishing compliant funding channels in North America.\n“When a large number of ETFs are approved, from the perspective of traditional asset allocation or risk aversion, directly purchasing ETFs from these brokerage banks means a substantial amount of funds will flow into major assets like Bitcoin and Ethereum,” he said.\n“This will be a crucial event.”\nVivien Fang, head of financial products at Bybit, said that liquidity volatile and uncertain “it’s still too early to call for a bull market in digital assets.”\n“This is because many central banks are still tightening, and China’s policy is still unclear,” she continued. “However, these ranges represent excellent accumulation zones for those with a long-term outlook.”\nMeanwhile,Coinglass datashows that in the last 12 hours, $15.45 million of shorts have been liquidated in comparison to $10.73 million in longs.\n[{"Asset": "XRP", "Ticker": "XRP", "Returns": "+9.9%", "DACS Sector": "Currency"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "+8.5%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Gala", "Ticker": "GALA", "Returns": "+7.5%", "DACS Sector": "Entertainment"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221210.7%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u22129.1%", "DACS Sector": "Computing"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u22128.6%", "DACS Sector": "Currency"}]\nBTC Is Tame but at Least One Indicator Is Pointing Upward\nCrypto markets aren\'t reacting the same way they once did to macroeconomic events. Consider the two most recent U.S. central bank interest rate hikes in May and March. They resulted in relatively mild price moves of 1.13% and -2.87%. The reaction to recent inflation and GDP data was similarly tame, with BTC moving just -0.74% and 1.16% respectively. All told, crypto markets have likely priced in Wednesday’s anticipated move. More interesting for traders is BTC’s price declining below the lower range of its Bollinger Bands, indicating that its price could move higher – albeit just slightly. Bollinger Bands are a technical indicator that tracks an asset’s 20-day moving average, and plots price levels two standard deviations above and below the average. As an asset’s price is expected to stay within two standard deviations of its average, 95% of the time, a breach of the external bands is statistically significant. Traders may be eyeing an upside target of $30,000 level, above the current support of $29,000.\nIs a DeFi Resurgence in the Offing\nIn the summer of 2020, decentralized finance (DeFi) projects flourished, reaching a high of $248.84 billion in total value locked by the following fall. The sector lost its allure amid the crypto winter. Now can DeFi recover some of its former glory? Boris Revsin, managing partner of Tribe Capital, an investment firm with over $1.6 billion in assets under management, thinks it can as more infrastructure gets developed in more open markets outside the U.S., making it easier to create new projects. “I expect DeFi to have a major resurgence towards the end of this year or early next year,” Revsin told CoinDesk during a recent interview.\nMining Disrupt BTC Conference (Miami, Florida)\n9:30 a.m. HKT/SGT(1:30 UTC)Australia Monthly Consumer Price Index (YoY/June)\n2:00 a.m. HKT/SGT(18:00 UTC)United States Fed Interest Rate Decision\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nWorldcoin\'s Token Erases Initial Gains; How Could FedNow Impact the Crypto Sector?\nThe crypto token tied to the Worldcoin identity-verification project was paring gains after its launch. Galaxy global head of asset management Steve Kurz shared his crypto markets analysis ahead of a key U.S. interest rate decision. The Federal Reserve opened its new instant payments service, FedNow, last week. Aaron Klein, Brookings Institution senior fellow in economic studies weighed in on what this could mean for the digital assets space. And, Gridless co-founder Erik Hersman explained how his company is extending power to rural Africa.\nBitcoin Breaks Below Key Technical Indicator, but Appears Poised to Continue Its Flat Trajectory:Wednesday’s Federal Reserve likely decision to raise the interest rate 25 basis points appears to be priced into crypto markets.\nVenture Capital Firm a16z Unloads $7M of MKR Tokens as Price Soars:Lending platform Maker’s governance tokens soared to near one-year high prices last week prior to the sales.\nDeFi Headed Toward a ‘Major Resurgence,’ Tribe Capital’s Boris Revsin Says:The managing partner of the $1.6 billion investment firm says infrastructure is the key to transforming crypto into a $10 trillion industry.\nElon Musk’s Twitter Overhaul Could Be Huge for DOGE and Crypto Generally:“Elon clearly has an affinity for DOGE, almost as part of a running joke, but I wouldn’t be surprised if he actually went through with enabling payments via DOGE.”\nIs It Finally Time to ‘X-it’ Twitter For Threads?:Meta\'s Threads hopes to swoop in and capture Web3 users that are looking for social media alternatives. But does the app have what crypto natives are looking for?', 'Good morning. Here’s what’s happening: Prices: Bitcoin, which was trading near $29.2, has resisted the influences of recent macroeconomic events, but may find its missing catalyst in a possible spot BTC ETF, says Mao Shixing, co-founder and CEO of custodian Cobo. Insights: Even as bitcoin shrugs off macroeconomic events, at least one indicator is pointing up, writes CoinDesk analyst Glenn Williams. Also, Tribe Capital\'s Boris Revsin sees a DeFi resurgence. Prices CoinDesk Market Index (CMI) 1,228 +2.8 ▲ 0.2% Bitcoin (BTC) $29,167 +45.0 ▲ 0.2% Ethereum (ETH) $1,856 +7.1 ▲ 0.4% S&P 500 4,567.46 +12.8 ▲ 0.3% Gold $1,966 +6.1 ▲ 0.3% Nikkei 225 32,682.51 −18.4 ▼ 0.1% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) CoinDesk Market Index (CMI) 1,228 +2.8 ▲ 0.2% Bitcoin (BTC) $29,167 +45.0 ▲ 0.2% Ethereum (ETH) $1,856 +7.1 ▲ 0.4% S&P 500 4,567.46 +12.8 ▲ 0.3% Gold $1,966 +6.1 ▲ 0.3% Nikkei 225 32,682.51 −18.4 ▼ 0.1% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Crypto Opens Flat in Asia; Bitcoin Is Shy of $30K Markets in Asia aren’t moving much as the region begins its trading day. Bitcoin is up 0.2% to $29,167, according to CoinDesk data, while ether is up 0.4% to $1,856. “At present, the cryptocurrency market is in a phase lacking a coherent narrative logic, heavily influenced by macro and regulatory factors. One significant influencing factor is the application of traditional institutions for a Bitcoin ETF,” Mao Shixing, co-founder and CEO of custodian Cobo told CoinDesk in a note. Grayscale\'s influx of US dollars sparked a Bitcoin rally in 2021 and 2022, and with traditional financial institutions likely to receive approval for cryptocurrency spot ETFs by Q1 of 2024, he said in the note while anticipating that the launch of one or two ETFs with substantial liquidity, reestablishing compliant funding channels in North America. “When a large number of ETFs are approved, from the perspective of traditional asset allocation or risk aversion, directly purchasing ETFs from these brokerage banks means a substantial amount of funds will flow into major assets like Bitcoin and Ethereum,” he said. Story continues “This will be a crucial event.” Vivien Fang, head of financial products at Bybit, said that liquidity volatile and uncertain “it’s still too early to call for a bull market in digital assets.” “This is because many central banks are still tightening, and China’s policy is still unclear,” she continued. “However, these ranges represent excellent accumulation zones for those with a long-term outlook.” Meanwhile, Coinglass data shows that in the last 12 hours, $15.45 million of shorts have been liquidated in comparison to $10.73 million in longs. Biggest Gainers Asset Ticker Returns DACS Sector XRP XRP +9.9% Currency Solana SOL +8.5% Smart Contract Platform Gala GALA +7.5% Entertainment Biggest Losers Asset Ticker Returns DACS Sector Stellar XLM −10.7% Smart Contract Platform Chainlink LINK −9.1% Computing Dogecoin DOGE −8.6% Currency Insights BTC Is Tame but at Least One Indicator Is Pointing Upward Crypto markets aren\'t reacting the same way they once did to macroeconomic events. Consider the two most recent U.S. central bank interest rate hikes in May and March. They resulted in relatively mild price moves of 1.13% and -2.87%. The reaction to recent inflation and GDP data was similarly tame, with BTC moving just -0.74% and 1.16% respectively. All told, crypto markets have likely priced in Wednesday’s anticipated move. More interesting for traders is BTC’s price declining below the lower range of its Bollinger Bands, indicating that its price could move higher – albeit just slightly. Bollinger Bands are a technical indicator that tracks an asset’s 20-day moving average, and plots price levels two standard deviations above and below the average. As an asset’s price is expected to stay within two standard deviations of its average, 95% of the time, a breach of the external bands is statistically significant. Traders may be eyeing an upside target of $30,000 level, above the current support of $29,000. Is a DeFi Resurgence in the Offing In the summer of 2020, decentralized finance (DeFi) projects flourished, reaching a high of $248.84 billion in total value locked by the following fall. The sector lost its allure amid the crypto winter. Now can DeFi recover some of its former glory? Boris Revsin, managing partner of Tribe Capital, an investment firm with over $1.6 billion in assets under management, thinks it can as more infrastructure gets developed in more open markets outside the U.S., making it easier to create new projects. “I expect DeFi to have a major resurgence towards the end of this year or early next year,” Revsin told CoinDesk during a recent interview. Important events. Mining Disrupt BTC Conference (Miami, Florida) 9:30 a.m. HKT/SGT(1:30 UTC) Australia Monthly Consumer Price Index (YoY/June) 2:00 a.m. HKT/SGT(18:00 UTC) United States Fed Interest Rate Decision CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Worldcoin\'s Token Erases Initial Gains; How Could FedNow Impact the Crypto Sector? The crypto token tied to the Worldcoin identity-verification project was paring gains after its launch. Galaxy global head of asset management Steve Kurz shared his crypto markets analysis ahead of a key U.S. interest rate decision. The Federal Reserve opened its new instant payments service, FedNow, last week. Aaron Klein, Brookings Institution senior fellow in economic studies weighed in on what this could mean for the digital assets space. And, Gridless co-founder Erik Hersman explained how his company is extending power to rural Africa. Headlines Bitcoin Breaks Below Key Technical Indicator, but Appears Poised to Continue Its Flat Trajectory : Wednesday’s Federal Reserve likely decision to raise the interest rate 25 basis points appears to be priced into crypto markets. Venture Capital Firm a16z Unloads $7M of MKR Tokens as Price Soars : Lending platform Maker’s governance tokens soared to near one-year high prices last week prior to the sales. DeFi Headed Toward a ‘Major Resurgence,’ Tribe Capital’s Boris Revsin Says : The managing partner of the $1.6 billion investment firm says infrastructure is the key to transforming crypto into a $10 trillion industry. Elon Musk’s Twitter Overhaul Could Be Huge for DOGE and Crypto Generally : “Elon clearly has an affinity for DOGE, almost as part of a running joke, but I wouldn’t be surprised if he actually went through with enabling payments via DOGE.” Is It Finally Time to ‘X-it’ Twitter For Threads? : Meta\'s Threads hopes to swoop in and capture Web3 users that are looking for social media alternatives. But does the app have what crypto natives are looking for?', 'After acquiring Sakura Exchange BitCoin (SEBC) in November 2022,Binance, the biggest cryptocurrency exchange in the world, will start providing full services for Japanese users in August this year.\nThe acquisition permits Binance to formally reenter Japan because SEBC is subject to the Financial Services Agency\'s (FSA) regulation. Up to 30 digital assets would have been originally available for spot trade on the new platform, according to the exchange.\nAccording to a representative for Binance, Japan has enormous potential in the developing Web3 sector and will be crucial to the continued growth of cryptocurrencies.\nThe CEO of Binance, Changpeng Zhao, hailed Japan\'s attitude to the industry as one that is "innovation-friendly" and referred to it as "a leader in the Web3 regulatory environment" during the WebX conference. In addition, he discussed his early career years as a developer living in Japan and emphasized the nation\'s distinct regulations on the industry, which have been in place for more than five years.\nThis comes as Japanese Prime Minister Fumio Kishida makes clear that his country intends to push Web3 as a part of the new form of capitalism.', 'Binance To Offer Full Services in Japan After Acquiring Sakura Exchange Bitcoin Last November Sakura Exchange BitCoin Acquisition Allows Binance to Officially Return to Japan After acquiring Sakura Exchange BitCoin (SEBC) in November 2022, Binance , the biggest cryptocurrency exchange in the world, will start providing full services for Japanese users in August this year. The acquisition permits Binance to formally reenter Japan because SEBC is subject to the Financial Services Agency\'s (FSA) regulation. Up to 30 digital assets would have been originally available for spot trade on the new platform, according to the exchange. According to a representative for Binance, Japan has enormous potential in the developing Web3 sector and will be crucial to the continued growth of cryptocurrencies. The CEO of Binance, Changpeng Zhao, hailed Japan\'s attitude to the industry as one that is "innovation-friendly" and referred to it as "a leader in the Web3 regulatory environment" during the WebX conference. In addition, he discussed his early career years as a developer living in Japan and emphasized the nation\'s distinct regulations on the industry, which have been in place for more than five years. This comes as Japanese Prime Minister Fumio Kishida makes clear that his country intends to push Web3 as a part of the new form of capitalism.', 'After acquiring Sakura Exchange
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-07-26
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $570,154,485,688
- Hash Rate: 381190141.57452464
- Transaction Count: 452746.0
- Unique Addresses: 737067.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.51
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: The sixth edition of the event commences today and brings together the most influential leaders in the global blockchain and crypto industry, is back Rotkreuz, Switzerland, June 02, 2023 (GLOBE NEWSWIRE) -- The Crypto Valley Association ’s leading event, the Crypto Valley Conference (CVC), commences today in Rotkreuz, Switzerland. The two-day immersive conference will host 1200 attendees and showcase over 85+ global industry leaders as it returns to the heart of Crypto Valley. In partnership with Innosuisse and sponsored by IEEE , CVC offers in-depth panels and analysis on the future of blockchain technology and recent industry developments. Attendees will be treated to a front row seat at some of the most topical and insightful conversations the conference has to offer including risk management, liquidity provision, regulation, taxation, sustainability, AI and much more. A series of bespoke masterclasses take center stage today and will be led by some of the industry’s most prominent organizations including the Cardano Foundation, Messari, AON, CME Group and Youhodler among others. This will be followed by a jam-packed schedule tomorrow. Teana Baker-Taylor, Vice President of Circle, will get proceedings underway on Friday morning with an opening fireside chat about a financially inclusive future. Other keynote speakers include Pascal Gauthier from Ledger, Dominic Williams from Dfinity Foundation, Marieke Flament from the NEAR Foundation and Frederik Gregaard from the Cardano Foundation and Demelza Hays from CoinTelegraph. They will be joined by speakers from Coinbase, Kraken, CME Group, Nasdaq, Bitcoin Suisse, BitGo, Bullish, Kaiko, SEBA Bank, Fireblocks and Sygnum Bank, among others. For a full list of speakers and events, read the full event agenda here . Organized in collaboration with Lucerne University of Applied Sciences and Arts , the sixth annual conference will spotlight the importance of creating new connections and building on existing ones. With no shortage of opportunities to socialize with other thought leaders in the space, the CVC’s popular Sunset Networking Boat Cruise will conclude the two-day event. Story continues Commenting, Emi Lorincz, President of the Crypto Valley Association, said: “From its inception, the Crypto Valley Conference has been bringing together the strongest, steadiest and most influential minds of the Swiss and global crypto ecosystem. While the market constantly changes, one thing is certain – the technology has never been stronger, and innovation is sprouting everywhere. This year we continue CVC’s tradition of bringing attendees high quality, established speakers and also showcasing the newest projects through our Start-up Competition. We will dive into exciting topics like the future of Bitcoin, privacy, market making, liquidity provision, sustainability and so much more. The Crypto Valley Conference is a wonderful mix of quality content and intimate networking that fuels our community.” For more information visit cryptovalleyconference.com , follow @thecryptovalley on Twitter, or check out #CVC23. ### Crypto Valley Association’s President Emi Lorincz is available for interviews. About Crypto Valley Association: Founded in January 2017, the Crypto Valley Association is a not-for-profit association established to support the development of cryptographic technologies, blockchain, and other distributed ledger technologies by supporting startups and other companies in Zug, Switzerland and internationally. Crypto Valley’s mission is to shape an open, free, and prosperous economy spanning multiple sectors and create a thriving ecosystem of individuals and companies passionate about building the future with blockchain. From its inception, the Crypto Valley Conference has been bringing together the strongest, steadiest and most influential minds of the Swiss and global crypto ecosystem and while the market constantly changes, one thing is certain – the technology has never been stronger, and innovation is sprouting everywhere. This year we continue CVC’s tradition of bringing attendees high quality, established speakers but also showcasing the newest projects through our Startup Competition and diving into the latest topics like market making, risk management, sustainability and much more. The Crypto Valley Conference is a wonderful mix of quality content and intimate networking that fuels our ecosystem. CONTACT: Media Contact: Oindrila C. Email: [email protected] Corporate Communications Manager Luna PR...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['As the race for the White House heats up, Democratic candidate for U.S. president Robert Kennedy Jr, has come out as a proponent of Bitcoin, and says he has proven that commitment by buying 14 Bitcoin last May. In a Wednesday Twitter Spaces interview with crypto investor and podcaster Scott Melker, Kennedy called Bitcoin the currency of freedom, and said he decided to become a crypto investor after he was chided by media outlets for promoting Bitcoin but didn’t own any. “I bought two Bitcoin for each of my seven children,” Kennedy said, noting he made the move "right after" his appearance at the Bitcoin Conference in May. “Now I’m a Bitcoin owner, and I’m sure they’ll now find a different way to come at me, but no one can say I didn’t put my money where my mouth is.” Kennedy and Melker also discussed how banks can shut down customer bank accounts without warning, and suggested political pressure may be behind the closure of the bank account of Joseph Mercola, described by the New York Times as "the most influential spreader of coronavirus misinformation online." Chase bank has shut down our business bank accounts along with the accounts of my CEO and CFO, as well as their family members (including spouse and child). They\'ve refused to provide any reason for doing so, the oldest account has been active for 18 years.… — Dr. Joseph Mercola (@mercola) July 25, 2023 "Here we have a powerful banking interest that that has received all kinds of federal government support and it\'s utterly dependent on its on its relationship with the Fed and the federal government and it is shutting down one of its customers for political speech," Kennedy said. "I think that incident alone should be one that all of us should be terrified about, and and it makes the the move toward Bitcoin, all the more important." Story continues Crypto Booster Robert F. Kennedy Jr. Bought Bitcoin Despite Recent Claim: Report During the annual conference held in Miami, Florida, Kennedy said covid-19 restriction led him to Bitcoin, and he claimed to be the first presidential candidate to accept Bitcoin donations through the Lightning Network. But he also said that he didn\'t own any, and wasn\'t there to give investment advice. Currently, the price of a Bitcoin is $29,330 per coin, according to CoinMarketCap. At the time of his speech at Bitcoin 2023, the price of a Bitcoin stood around $27,128. If Kennedy’s claims are true, the Kennedy Bitcoin treasury would be worth around $400,000 today. Earlier this month, a financial disclosure document obtained by CNBC showed Kennedy’s Family held (at the time) between $100,000 and $250,000 worth of Bitcoin. His conference address established his strong alignment with so-called digital gold. “When I witnessed this cataclysm—this devastating use of government repression—I realized for the first time how free money is as important to freedom as free expression,” Kennedy said. Kennedy added that the many environmental claims about Bitcoin are unfounded. “I believe that the environmental arguments against Bitcoin are a smokescreen to obscure the real motives for suppressing Bitcoin,” he said, citing the massive cost of endless wars and environmentally destructive projects. While Kennedy is not expected to win the Democratic party\'s nomination—online wagering sites put his odds at around 11 percent —he has drawn the support of fervent crypto fans. “I’m very happy for the support I’ve gotten from the Bitcoin community,” Kennedy said.', 'As the race for the White House heats up, Democratic candidate for U.S. president Robert Kennedy Jr, has come out as a proponent of Bitcoin, and says he has proven that commitment by buying 14 Bitcoin last May.\nIn a WednesdayTwitter Spaces interviewwith crypto investor and podcaster Scott Melker, Kennedy calledBitcointhe currency of freedom, and said he decided to become a crypto investor after he was chided by media outlets for promoting Bitcoin but didn’t own any.\n“I bought two Bitcoin for each of my seven children,” Kennedy said, noting he made the move "right after" his appearance at the Bitcoin Conference in May. “Now I’m a Bitcoin owner, and I’m sure they’ll now find a different way to come at me, but no one can say I didn’t put my money where my mouth is.”\nKennedy and Melker also discussed how banks can shut down customer bank accounts without warning, and suggested political pressure may be behind the closure of the bank account of Joseph Mercola, described by theNew York Timesas "the most influential spreader of coronavirus misinformation online."\n"Here we have a powerful banking interest that that has received all kinds of federal government support and it\'s utterly dependent on its on its relationship with the Fed and the federal government and it is shutting down one of its customers for political speech," Kennedy said. "I think that incident alone should be one that all of us should be terrified about, and and it makes the the move toward Bitcoin, all the more important."\nCrypto Booster Robert F. Kennedy Jr. Bought Bitcoin Despite Recent Claim: Report\nDuring the annual conference held in Miami, Florida,Kennedysaid covid-19 restriction led him to Bitcoin, and he claimed to be the first presidential candidate to accept Bitcoin donations through the Lightning Network. But he also said that he didn\'t own any, and wasn\'t there to give investment advice.\nCurrently, the price of aBitcoinis $29,330 per coin, according to CoinMarketCap. At the time of his speech at Bitcoin 2023, the price of a Bitcoin stood around $27,128. If Kennedy’s claims are true, the Kennedy Bitcoin treasury would be worth around $400,000 today.\nEarlier this month, a financial disclosure document obtained byCNBCshowed Kennedy’s Familyheld(at the time) between $100,000 and $250,000 worth of Bitcoin.\nHis conference address established his strong alignment with so-called digital gold.\n“When I witnessed this cataclysm—this devastating use of government repression—I realized for the first time how free money is as important to freedom as free expression,” Kennedy said.\nKennedy added that the many environmental claims about Bitcoin are unfounded.\n“I believe that the environmental arguments against Bitcoin are a smokescreen to obscure the real motives for suppressing Bitcoin,” he said, citing the massive cost of endless wars and environmentally destructive projects.\nWhile Kennedy is not expected to win the Democratic party\'s nomination—online wagering sites put his odds ataround 11 percent—he has drawn the support of fervent crypto fans.\n“I’m very happy for the support I’ve gotten from the Bitcoin community,” Kennedy said.', 'As the race for the White House heats up, Democratic candidate for U.S. president Robert Kennedy Jr, has come out as a proponent of Bitcoin, and says he has proven that commitment by buying 14 Bitcoin last May.\nIn a WednesdayTwitter Spaces interviewwith crypto investor and podcaster Scott Melker, Kennedy calledBitcointhe currency of freedom, and said he decided to become a crypto investor after he was chided by media outlets for promoting Bitcoin but didn’t own any.\n“I bought two Bitcoin for each of my seven children,” Kennedy said, noting he made the move "right after" his appearance at the Bitcoin Conference in May. “Now I’m a Bitcoin owner, and I’m sure they’ll now find a different way to come at me, but no one can say I didn’t put my money where my mouth is.”\nKennedy and Melker also discussed how banks can shut down customer bank accounts without warning, and suggested political pressure may be behind the closure of the bank account of Joseph Mercola, described by theNew York Timesas "the most influential spreader of coronavirus misinformation online."\n"Here we have a powerful banking interest that that has received all kinds of federal government support and it\'s utterly dependent on its on its relationship with the Fed and the federal government and it is shutting down one of its customers for political speech," Kennedy said. "I think that incident alone should be one that all of us should be terrified about, and and it makes the the move toward Bitcoin, all the more important."\nCrypto Booster Robert F. Kennedy Jr. Bought Bitcoin Despite Recent Claim: Report\nDuring the annual conference held in Miami, Florida,Kennedysaid covid-19 restriction led him to Bitcoin, and he claimed to be the first presidential candidate to accept Bitcoin donations through the Lightning Network. But he also said that he didn\'t own any, and wasn\'t there to give investment advice.\nCurrently, the price of aBitcoinis $29,330 per coin, according to CoinMarketCap. At the time of his speech at Bitcoin 2023, the price of a Bitcoin stood around $27,128. If Kennedy’s claims are true, the Kennedy Bitcoin treasury would be worth around $400,000 today.\nEarlier this month, a financial disclosure document obtained byCNBCshowed Kennedy’s Familyheld(at the time) between $100,000 and $250,000 worth of Bitcoin.\nHis conference address established his strong alignment with so-called digital gold.\n“When I witnessed this cataclysm—this devastating use of government repression—I realized for the first time how free money is as important to freedom as free expression,” Kennedy said.\nKennedy added that the many environmental claims about Bitcoin are unfounded.\n“I believe that the environmental arguments against Bitcoin are a smokescreen to obscure the real motives for suppressing Bitcoin,” he said, citing the massive cost of endless wars and environmentally destructive projects.\nWhile Kennedy is not expected to win the Democratic party\'s nomination—online wagering sites put his odds ataround 11 percent—he has drawn the support of fervent crypto fans.\n“I’m very happy for the support I’ve gotten from the Bitcoin community,” Kennedy said.', 'Bitcoin gained Thursday morning in Asia, but not enough to break through resistance at US$29,500 after the Federal Reserve raised interest rates by the expected quarter point. The bank left the door open for another increase in September. Ether moved higher with most top 10 cryptocurrencies. Solana led the winners as its trading volume more than doubled in the past 24 hours. Dogecoin led the losers as the meme token lost some steam after gaining over 11% for the week. The Forkast 500 NFT index traded flat and U.S. equity futures were mixed, reflecting the same performance on Wall Street on Wednesday. Top cryptos gain Bitcoin rose 0.90% in the last 24 hours to US$29,459 as of 07:15 a.m. in Hong Kong, but was still down 1.37% for the week, according to data from CoinMarketCap. The world’s largest cryptocurrency briefly breached US$29,600 early Thursday morning. Ether moved up 0.88% to US$1,874, but remained 0.68% lower for the seven-day period. The marginal gains followed the Fed’s decision to raise benchmark lending rates in the U.S. to between 5.25% and 5.50%, the highest in 22 years, to slow inflation. In a press conference , Fed Chair Jerome Powell said another rate hike in September is possible, but said decisions will be determined by the data at the time. “An interesting time for crypto markets although you wouldn’t be able to tell when looking at the price action. With macro markets timidly risk-on, BTC and ETH rose slightly to recoup levels lost earlier this week,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market maker Keyrock . With the exception of Dogecoin, all other top 10 non-stablecoin cryptocurrencies traded higher in the past 24 hours. Solana’s SOL led the winners, jumping 9.51% to US$25.35, but still sitting on a 3.80% loss for the full week. The token’s 24-hour trading volume surged more than 100% to over US$682 million, surpassing that of Ether and indicating investors are betting on a strong rebound. “SOL’s price increased by about 49% in the past month, primarily driven by the stable development and progress of Solana’s blockchain and ecosystem, with steady growth in user base and restoration of reputation,” said Greta Yuan, head of research at Hong Kong-based digital asset exchange VDX . Dogecoin lost ground after being the darling of the week as the rebranding of Twitter raised speculation it could be part of a payments system on the social media network. It fell 3.52% to US$0.0784, though is still holding a weekly gain of 11.82%. The total crypto market capitalization gained 0.85% in the past 24 hours to US$1.19 trillion, while trading volume rose 20.51% to US$30.91 billion. Story continues Elsewhere, Worldcoin , a cryptocurrency and digital identity project founded by OpenAI chief executive officer Sam Altman, issued its controversial WLD token on Monday and prices soared. The token dipped 1.49% to US$2.28 on Thursday, but is up 36.30% since the launch. “OpenAI co-founder Sam Altman’s Worldcoin project might just be one of the most ambitious cryptocurrency projects in recent years,” Louis Schoeman, managing director at Dubai-based trading information platform Forex Suggest , said in emailed comments. “ The project’s core offering, its World ID, requires users to prove via an iris scan that they are human, and not an AI bot. Those who sign up will receive Worldcoin’s cryptocurrency token WLD,” said Schoeman. “This sort of digital ID will be necessary in the development of AI, in order to tell the difference between humans and AI bots online. It’s becoming increasingly difficult to distinguish fiction from reality, which is a particular concern in the financial and democratic systems. Worldcoin wants to defend people from AI misinformation and make it clear who and what to trust online,” added Schoeman. In emailed comments on Worldcoin, Michael Silberberg, head of investor relations at the U.S.-based crypto hedge fund AltTab Capital , said: “The value of a real non-transferable, and cryptographically secure identity is potent as it could reduce digital fraud, help bank the unbanked, and even reduce the number of times I have to convince robots I’m not a robot a day.” According to reports, the Worldcoin project signed up more than two million users during beta testing and is now expanding operations to 35 cities across 20 countries, but the US isn’t yet one of them, said Schoeman. “Altman made it clear the company didn’t feel the US would make or break the project, but with North America said to account for around 18% of the total world crypto value received, breaking into the US market will be a major concern for Worldcoin,” he said. “A global digital ID enabling private identity verifications is undeniably revolutionary, however, it’s certain to stir up controversy, with many already calling the exchange of biometric data for crypto tokens an outlandish bribe,” said Schoeman. Forkast 500 flat, Sotheby’s NFT auction sells out The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index edged up a slight 0.57% in the past 24 hours to 2,651.39 as of 10:00 a.m. in Hong Kong. It’s still down 2.22% for the week. Forkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all logged losses. While the overall NFT market remains in the doldrums, auction house Sotheby’s NFT art collections are attracting buyers of so-called generative art, or the process of algorithmically generating art forms. Themes and Variations , an NFT collection of 500 generative artworks by artist Vera Molnár, was sold out within an hour in a Dutch auction on Wednesday for 631 ETH (US$1.2 million). It is the first collection in Sotheby’s Gen Art Program, which aims to spotlight three generative artists each year. With secondary markets included, the trading volume of\xa0 Themes and Variations has totaled over US$2 million, according to data from CryptoSlam , making it the top NFT collection by that measure in the past 24 hours. “In the future we’re going to look back at this time in NFTs as a very special time for generative art,” said Yehudah Petscher, NFT Strategist at Forkast Labs. “Art is still the best use case for NFTs, and it’s exciting to see so many collectors appreciating it even in a market like this,” he said. “I’m expecting to see a rather steady stream of higher-end generative art from Sotheby’s, whose new generative art platform is using the Art Blocks Engine to produce these on-chain works,” added Petscher. Total NFT trading volume dropped 5.16% in the past 24 hours to US$18.41 million, according to data from CryptoSlam .\xa0 Volumes on the Ethereum, Polygon, Bitcoin and Cardano blockchains fell, while Solana, Mythos Chain and Immutable X saw an increase in trading. “Mythos Chain and ImmutableX are also up 47% and 69%, showing yet again that gaming NFTs (from Gods Unchained, CS:GO, TF2, DOTA 2) are another perfect use case for NFTs,” said Petscher. Elsewhere, social media platform Reddit launched the latest series of its NFT collectible avatars on early Thursday. Entitled “Retro Reimagined”, the collection features designs from both independent artists and NFT developers like Cool Cats . Unlike ordinary NFTs, Reddit’s collectible avatars are purchased with fiat currencies through a Reddit platform at fixed prices, but can be transferred to a third-party crypto wallet as NFTs. U.S. equity futures rise Image: Getty Images U.S. stock futures traded higher as of 12:10 p.m. on Thursday in Hong Kong, after the three major U.S. indexes closed mixed in regular trading the prior day. The Dow Jones Industrial Average rose on Wednesday to extend its longest winning streak in six years, while the S&P 500 and Nasdaq Composite logged losses. As analysts expected, the Federal Reserve announced a 25-basis-point rate hike on Wednesday in its more than year-long quest to reduce the inflation rate. The benchmark rate is now in the range of 5.25% to 5.50%, the highest since January 2001. In Asia, the main stock indexes rose after the Fed’s rate rise was in line with expectations. China’s Shanghai Composite , Hong Kong’s Hang Seng , South Korea’s Kospi and Japan’s Nikkei all logged gains. In a press conference following the Fed announcement, the chair Jerome Powell said his agency will keep focused on economic data for future discussions on rate adjustments, Bloomberg reported on Thursday. The Fed typically has eight monthly meetings a year to decide on interest rates, with the next two-day gathering scheduled for September 19-20. “We will continue to make our decisions meeting by meeting, based on the totality of incoming data and their implications for the outlook for economic activity and inflation as well as the balance of risks,” said Powell in his statement. He said the Fed remains committed to bringing the annual inflation rate to its long-term goal of 2%. The annual inflation rate in June sat at 3.0% . On the U.S. economic data front, investors have Thursday’s report on gross domestic product (GDP) for the second quarter, and Friday’s personal consumption expenditure (PCE) price index for additional insights into the state of the economy and inflation. Amazon, MasterCard and McDonald’s are also set to release their second-quarter earnings on Thursday. (Updates with comment on Solana in first section.) View comments', 'Bitcoin gained Thursday morning in Asia, but not enough to break through resistance at US$29,500 after the Federal Reserve raised interest rates by the expected quarter point. The bank left the door open for another increase in September. Ether moved higher with most top 10 cryptocurrencies. Solana led the winners as its trading volume more than doubled in the past 24 hours. Dogecoin led the losers as the meme token lost some steam after gaining over 11% for the week. The Forkast 500 NFT index traded flat and U.S. equity futures were mixed, reflecting the same performance on Wall Street on Wednesday.\nBitcoin rose 0.90% in the last 24 hours to US$29,459 as of 07:15 a.m. in Hong Kong, but was still down 1.37% for the week, according todatafrom CoinMarketCap. The world’s largest cryptocurrency briefly breached US$29,600 early Thursday morning.\nEther moved up 0.88% to US$1,874, but remained 0.68% lower for the seven-day period.\nThe marginal gains followed the Fed’s decision to raise benchmark lending rates in the U.S. to between 5.25% and 5.50%, the highest in 22 years, to slow inflation. In apress conference, Fed Chair Jerome Powell said another rate hike in September is possible, but said decisions will be determined by the data at the time.\n“An interesting time for crypto markets although you wouldn’t be able to tell when looking at the price action. With macro markets timidly risk-on, BTC and ETH rose slightly to recoup levels lost earlier this week,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market makerKeyrock.\nWith the exception of Dogecoin, all other top 10 non-stablecoin cryptocurrencies traded higher in the past 24 hours.\nSolana’s SOL led the winners, jumping 9.51% to US$25.35, but still sitting on a 3.80% loss for the full week. The token’s 24-hour trading volume surged more than 100% to over US$682 million, surpassing that of Ether and indicating investors are betting on a strong rebound.\n“SOL’s price increased by about 49% in the past month, primarily driven by the stable development and progress of Solana’s blockchain and ecosystem, with steady growth in user base and restoration of reputation,” said Greta Yuan, head of research at Hong Kong-based digital asset exchangeVDX.\nDogecoin lost ground after being the darling of the week as the rebranding of Twitter raised speculation it could be part of a payments system on the social media network. It fell 3.52% to US$0.0784, though is still holding a weekly gain of 11.82%.\nThe total crypto market capitalization gained 0.85% in the past 24 hours to US$1.19 trillion, while trading volume rose 20.51% to US$30.91 billion.\nElsewhere,Worldcoin, a cryptocurrency and digital identity project founded by OpenAI chief executive officer Sam Altman, issued its controversial WLD token on Monday and prices soared. The token dipped 1.49% to US$2.28 on Thursday, but is up 36.30% since the launch.\n“OpenAI co-founder Sam Altman’s Worldcoin project might just be one of the most ambitious cryptocurrency projects in recent years,” Louis Schoeman, managing director at Dubai-based trading information platformForex Suggest, said in emailed comments.\n“The project’s core offering, its World ID, requires users to prove via an iris scan that they are human, and not an AI bot. Those who sign up will receive Worldcoin’s cryptocurrency token WLD,” said Schoeman.\n“This sort of digital ID will be necessary in the development of AI, in order to tell the difference between humans and AI bots online. It’s becoming increasingly difficult to distinguish fiction from reality, which is a particular concern in the financial and democratic systems. Worldcoin wants to defend people from AI misinformation and make it clear who and what to trust online,” added Schoeman.\nIn emailed comments on Worldcoin, Michael Silberberg, head of investor relations at the U.S.-based crypto hedge fundAltTab Capital, said: “The value of a real non-transferable, and cryptographically secure identity is potent as it could reduce digital fraud, help bank the unbanked, and even reduce the number of times I have to convince robots I’m not a robot a day.”\nAccording to reports, the Worldcoin project signed up more than two million users during beta testing and is now expanding operations to 35 cities across 20 countries, but the US isn’t yet one of them, said Schoeman.\n“Altman made it clear the company didn’t feel the US would make or break the project, but with North America said to account for around 18% of the total world crypto value received, breaking into the US market will be a major concern for Worldcoin,” he said.\n“A global digital ID enabling private identity verifications is undeniably revolutionary, however, it’s certain to stir up controversy, with many already calling the exchange of biometric data for crypto tokens an outlandish bribe,” said Schoeman.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexedged up a slight 0.57% in the past 24 hours to 2,651.39 as of 10:00 a.m. in Hong Kong. It’s still down 2.22% for the week. Forkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all logged losses.\nWhile the overall NFT market remains in the doldrums, auction house Sotheby’s NFT art collections are attracting buyers of so-called generative art, or theprocessof algorithmically generating art forms.\nThemes and Variations, an NFT collection of 500 generative artworks by artist Vera Molnár, was sold out within an hour in a Dutch auction on Wednesday for 631 ETH (US$1.2 million). It is the first collection in Sotheby’s Gen Art Program, which aims to spotlight three generative artists each year.\nWith secondary markets included, the trading volume of\xa0 Themes and Variations has totaled over US$2 million, according to data fromCryptoSlam, making it the top NFT collection by that measure in the past 24 hours.\n“In the future we’re going to look back at this time in NFTs as a very special time for generative art,” said Yehudah Petscher, NFT Strategist at Forkast Labs. “Art is still the best use case for NFTs, and it’s exciting to see so many collectors appreciating it even in a market like this,” he said.\n“I’m expecting to see a rather steady stream of higher-end generative art from Sotheby’s, whose new generative art platform is using theArt Blocks Engineto produce these on-chain works,” added Petscher.\nTotal NFT trading volume dropped 5.16% in the past 24 hours to US$18.41 million, according to data fromCryptoSlam.\xa0 Volumes on the Ethereum, Polygon, Bitcoin and Cardano blockchains fell, while Solana, Mythos Chain and Immutable X saw an increase in trading.\n“Mythos Chain and ImmutableX are also up 47% and 69%, showing yet again that gaming NFTs (from Gods Unchained, CS:GO, TF2, DOTA 2) are another perfect use case for NFTs,” said Petscher.\nElsewhere, social media platform Redditlaunchedthe latest series of its NFT collectible avatars on early Thursday.\nEntitled “Retro Reimagined”, the collection features designs from both independent artists and NFT developers likeCool Cats. Unlike ordinary NFTs, Reddit’s collectible avatars are purchased with fiat currencies through a Reddit platform at fixed prices, but can be transferred to a third-party crypto wallet as NFTs.\nU.S. stock futurestradedhigher as of 12:10 p.m. on Thursday in Hong Kong, after the three major U.S. indexes closed mixed in regular trading the prior day. The Dow Jones Industrial Average rose on Wednesday to extend its longest winning streak in six years, while the S&P 500 and Nasdaq Composite logged losses.\nAs analysts expected, the Federal Reserveannounceda 25-basis-point rate hike on Wednesday in its more than year-long quest to reduce the inflation rate. The benchmark rate is now in the range of 5.25% to 5.50%, the highest since January 2001.\nIn Asia, the main stock indexes rose after the Fed’s rate rise was in line with expectations. China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospiand Japan’sNikkeiall logged gains.\nIn a press conference following the Fed announcement, the chair Jerome Powell said his agency will keep focused on economic data for future discussions on rate adjustments, Bloombergreportedon Thursday.\nThe Fed typically has eight monthly meetings a year to decide on interest rates, with the next two-day gathering scheduled for September 19-20.\n“We will continue to make our decisions meeting by meeting, based on the totality of incoming data and their implications for the outlook for economic activity and inflation as well as the balance of risks,” said Powell in his statement.\nHe said the Fed remains committed to bringing the annual inflation rate to its long-term goal of 2%. The annual inflation rate in June sat at3.0%.\nOn the U.S. economic data front, investors have Thursday’s report on gross domestic product (GDP) for the second quarter, and Friday’s personal consumption expenditure (PCE) price index for additional insights into the state of the economy and inflation.\nAmazon, MasterCard and McDonald’s are also set to release their second-quarter earnings on Thursday.\n(Updates with comment on Solana in first section.)', 'Bitcoin gained Thursday morning in Asia, but not enough to break through resistance at US$29,500 after the Federal Reserve raised interest rates by the expected quarter point. The bank left the door open for another increase in September. Ether moved higher with most top 10 cryptocurrencies. Solana led the winners as its trading volume more than doubled in the past 24 hours. Dogecoin led the losers as the meme token lost some steam after gaining over 11% for the week. The Forkast 500 NFT index traded flat and U.S. equity futures were mixed, reflecting the same performance on Wall Street on Wednesday.\nBitcoin rose 0.90% in the last 24 hours to US$29,459 as of 07:15 a.m. in Hong Kong, but was still down 1.37% for the week, according todatafrom CoinMarketCap. The world’s largest cryptocurrency briefly breached US$29,600 early Thursday morning.\nEther moved up 0.88% to US$1,874, but remained 0.68% lower for the seven-day period.\nThe marginal gains followed the Fed’s decision to raise benchmark lending rates in the U.S. to between 5.25% and 5.50%, the highest in 22 years, to slow inflation. In apress conference, Fed Chair Jerome Powell said another rate hike in September is possible, but said decisions will be determined by the data at the time.\n“An interesting time for crypto markets although you wouldn’t be able to tell when looking at the price action. With macro markets timidly risk-on, BTC and ETH rose slightly to recoup levels lost earlier this week,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market makerKeyrock.\nWith the exception of Dogecoin, all other top 10 non-stablecoin cryptocurrencies traded higher in the past 24 hours.\nSolana’s SOL led the winners, jumping 9.51% to US$25.35, but still sitting on a 3.80% loss for the full week. The token’s 24-hour trading volume surged more than 100% to over US$682 million, surpassing that of Ether and indicating investors are betting on a strong rebound.\n“SOL’s price increased by about 49% in the past month, primarily driven by the stable development and progress of Solana’s blockchain and ecosystem, with steady growth in user base and restoration of reputation,” said Greta Yuan, head of research at Hong Kong-based digital asset exchangeVDX.\nDogecoin lost ground after being the darling of the week as the rebranding of Twitter raised speculation it could be part of a payments system on the social media network. It fell 3.52% to US$0.0784, though is still holding a weekly gain of 11.82%.\nThe total crypto market capitalization gained 0.85% in the past 24 hours to US$1.19 trillion, while trading volume rose 20.51% to US$30.91 billion.\nElsewhere,Worldcoin, a cryptocurrency and digital identity project founded by OpenAI chief executive officer Sam Altman, issued its controversial WLD token on Monday and prices soared. The token dipped 1.49% to US$2.28 on Thursday, but is up 36.30% since the launch.\n“OpenAI co-founder Sam Altman’s Worldcoin project might just be one of the most ambitious cryptocurrency projects in recent years,” Louis Schoeman, managing director at Dubai-based trading information platformForex Suggest, said in emailed comments.\n“The project’s core offering, its World ID, requires users to prove via an iris scan that they are human, and not an AI bot. Those who sign up will receive Worldcoin’s cryptocurrency token WLD,” said Schoeman.\n“This sort of digital ID will be necessary in the development of AI, in order to tell the difference between humans and AI bots online. It’s becoming increasingly difficult to distinguish fiction from reality, which is a particular concern in the financial and democratic systems. Worldcoin wants to defend people from AI misinformation and make it clear who and what to trust online,” added Schoeman.\nIn emailed comments on Worldcoin, Michael Silberberg, head of investor relations at the U.S.-based crypto hedge fundAltTab Capital, said: “The value of a real non-transferable, and cryptographically secure identity is potent as it could reduce digital fraud, help bank the unbanked, and even reduce the number of times I have to convince robots I’m not a robot a day.”\nAccording to reports, the Worldcoin project signed up more than two million users during beta testing and is now expanding operations to 35 cities across 20 countries, but the US isn’t yet one of them, said Schoeman.\n“Altman made it clear the company didn’t feel the US would make or break the project, but with North America said to account for around 18% of the total world crypto value received, breaking into the US market will be a major concern for Worldcoin,” he said.\n“A global digital ID enabling private identity verifications is undeniably revolutionary, however, it’s certain to stir up controversy, with many already calling the exchange of biometric data for crypto tokens an outlandish bribe,” said Schoeman.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexedged up a slight 0.57% in the past 24 hours to 2,651.39 as of 10:00 a.m. in Hong Kong. It’s still down 2.22% for the week. Forkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all logged losses.\nWhile the overall NFT market remains in the doldrums, auction house Sotheby’s NFT art collections are attracting buyers of so-called generative art, or theprocessof algorithmically generating art forms.\nThemes and Variations, an NFT collection of 500 generative artworks by artist Vera Molnár, was sold out within an hour in a Dutch auction on Wednesday for 631 ETH (US$1.2 million). It is the first collection in Sotheby’s Gen Art Program, which aims to spotlight three generative artists each year.\nWith secondary markets included, the trading volume of\xa0 Themes and Variations has totaled over US$2 million, according to data fromCryptoSlam, making it the top NFT collection by that measure in the past 24 hours.\n“In the future we’re going to look back at this time in NFTs as a very special time for generative art,” said Yehudah Petscher, NFT Strategist at Forkast Labs. “Art is still the best use case for NFTs, and it’s exciting to see so many collectors appreciating it even in a market like this,” he said.\n“I’m expecting to see a rather steady stream of higher-end generative art from Sotheby’s, whose new generative art platform is using theArt Blocks Engineto produce these on-chain works,” added Petscher.\nTotal NFT trading volume dropped 5.16% in the past 24 hours to US$18.41 million, according to data fromCryptoSlam.\xa0 Volumes on the Ethereum, Polygon, Bitcoin and Cardano blockchains fell, while Solana, Mythos Chain and Immutable X saw an increase in trading.\n“Mythos Chain and ImmutableX are also up 47% and 69%, showing yet again that gaming NFTs (from Gods Unchained, CS:GO, TF2, DOTA 2) are another perfect use case for NFTs,” said Petscher.\nElsewhere, social media platform Redditlaunchedthe latest series of its NFT collectible avatars on early Thursday.\nEntitled “Retro Reimagined”, the collection features designs from both independent artists and NFT developers likeCool Cats. Unlike ordinary NFTs, Reddit’s collectible avatars are purchased with fiat currencies through a Reddit platform at fixed prices, but can be transferred to a third-party crypto wallet as NFTs.\nU.S. stock futurestradedhigher as of 12:10 p.m. on Thursday in Hong Kong, after the three major U.S. indexes closed mixed in regular trading the prior day. The Dow Jones Industrial Average rose on Wednesday to extend its longest winning streak in six years, while the S&P 500 and Nasdaq Composite logged losses.\nAs analysts expected, the Federal Reserveannounceda 25-basis-point rate hike on Wednesday in its more than year-long quest to reduce the inflation rate. The benchmark rate is now in the range of 5.25% to 5.50%, the highest since January 2001.\nIn Asia, the main stock indexes rose after the Fed’s rate rise was in line with expectations. China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospiand Japan’sNikkeiall logged gains.\nIn a press conference following the Fed announcement, the chair Jerome Powell said his agency will keep focused on economic data for future discussions on rate adjustments, Bloombergreportedon Thursday.\nThe Fed typically has eight monthly meetings a year to decide on interest rates, with the next two-day gathering scheduled for September 19-20.\n“We will continue to make our decisions meeting by meeting, based on the totality of incoming data and their implications for the outlook for economic activity and inflation as well as the balance of risks,” said Powell in his statement.\nHe said the Fed remains committed to bringing the annual inflation rate to its long-term goal of 2%. The annual inflation rate in June sat at3.0%.\nOn the U.S. economic data front, investors have Thursday’s report on gross domestic product (GDP) for the second quarter, and Friday’s personal consumption expenditure (PCE) price index for additional insights into the state of the economy and inflation.\nAmazon, MasterCard and McDonald’s are also set to release their second-quarter earnings on Thursday.\n(Updates with comment on Solana in first section.)', "SINGAPORE --News Direct-- BingX SINGAPORE - Media OutReach - 27 July 2023 - BingX, a cryptocurrency exchange , is thrilled to unveil the listing of a new trading pair, WLD/USDT, for the highly anticipated Worldcoin (WLD) . This momentous move comes as part of BingX's commitment to offer a diverse range of trading opportunities to its esteemed users. Worldcoin, founded over three years ago with an audacious vision, aims to establish a decentralized global network that empowers individuals worldwide. As news of WLD token came to life, the team at BingX spared no hesitation and carried out its due diligence in research. This resulted in BingX being the first CEX to list World Coin right after the launch on 2023-07-24, 07:30:00 (UTC+0). With the addition of the WLD/USDT trading pair, BingX is reinforcing its reputation as a leading cryptocurrency exchange. Not only can users engage in Worldcoin spot trading , but they can also explore the WLD USDT futures trading option for World Token. This marks a significant milestone for Worldcoin as it strives to create a new identity and financial network accessible to everyone. At BingX, the team is dedicated to conducting thorough evaluations of listed projects. A team of experienced researchers meticulously assesses the underlying risks associated with new coin projects before granting them a spot on the exchange. This stringent evaluation process ensures that only projects meeting the highest standards are showcased on BingX's esteemed spot trading platform. In addition, BingX continues to closely monitor the stability and performance of listed projects even after they debut on the trading platform. This ongoing evaluation period allows BingX to reassess the project's suitability for inclusion on its Futures trading platform. By adopting this careful approach, BingX aims to minimize risks for traders and provide a secure and reliable trading environment. With Worldcoin Price and listings now available, BingX has also live their Worldcoin trading analysis . With information and the ability to trade new hot coins, BingX users can access a wider array of trading options, enhancing their trading experience and enabling them to explore the potential of the cryptocurrency market. Story continues About BingX Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Trade crypto pair like Bitcoin $BTC & Ethereum $ETH on BingX platform, suitable for all trader levels. BingX Official Listing of Worldcoin BingX All you need to know about WorldCoin Contact Details BingX Elvisco [email protected] View source version on newsdirect.com: https://newsdirect.com/news/bingx-first-cex-to-lists-chatgpt-founders-worldcoin-on-trading-platform-513569503", "SINGAPORE --News Direct-- BingX SINGAPORE - Media OutReach - 27 July 2023 - BingX, a cryptocurrency exchange , is thrilled to unveil the listing of a new trading pair, WLD/USDT, for the highly anticipated Worldcoin (WLD) . This momentous move comes as part of BingX's commitment to offer a diverse range of trading opportunities to its esteemed users. Worldcoin, founded over three years ago with an audacious vision, aims to establish a decentralized global network that empowers individuals worldwide. As news of WLD token came to life, the team at BingX spared no hesitation and carried out its due diligence in research. This resulted in BingX being the first CEX to list World Coin right after the launch on 2023-07-24, 07:30:00 (UTC+0). With the addition of the WLD/USDT trading pair, BingX is reinforcing its reputation as a leading cryptocurrency exchange. Not only can users engage in Worldcoin spot trading , but they can also explore the WLD USDT futures trading option for World Token. This marks a significant milestone for Worldcoin as it strives to create a new identity and financial network accessible to everyone. At BingX, the team is dedicated to conducting thorough evaluations of listed projects. A team of experienced researchers meticulously assesses the underlying risks associated with new coin projects before granting them a spot on the exchange. This stringent evaluation process ensures that only projects meeting the highest standards are showcased on BingX's esteemed spot trading platform. In addition, BingX continues to closely monitor the stability and performance of listed projects even after they debut on the trading platform. This ongoing evaluation period allows BingX to reassess the project's suitability for inclusion on its Futures trading platform. By adopting this careful approach, BingX aims to minimize risks for traders and provide a secure and reliable trading environment. With Worldcoin Price and listings now available, BingX has also live their Worldcoin trading analysis . With information and the ability to trade new hot coins, BingX users can access a wider array of trading options, enhancing their trading experience and enabling them to explore the potential of the cryptocurrency market. Story continues About BingX Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Trade crypto pair like Bitcoin $BTC & Ethereum $ETH on BingX platform, suitable for all trader levels. BingX Official Listing of Worldcoin BingX All you need to know about WorldCoin Contact Details BingX Elvisco [email protected] View source version on newsdirect.com: https://newsdirect.com/news/bingx-first-cex-to-lists-chatgpt-founders-worldcoin-on-trading-platform-513569503", 'Following the expected 25 basis point increase in interest rates by the US Federal Reserve, the price ofBitcoin (BTC)and other cryptocurrencies briefly rose.\nGains were brief, though, as the statement did not do anything to quell expectations that the Fed will soon end its string of interest rate hikes.\nBTC went up to as high as $29.65K, however it soon retraced and is now trading at $29.4K.Ethereum (ETH)gained to $1,885, but also traded back down to $1,873 at the time of writing.\nDespite the gains, Bitcoin is still below its peak from July of $31,800 and is generally unaffected by macroeconomic factors that have in the last year led to more pronounced market reactions.\nFederal Reserve Chairman Jerome Powell said:“We think we’re going to need to hold, certainly, policy at restrictive levels for some time, and we’d be prepared to raise further if we think that’s appropriate.”\nThe Dow Jones Industrial Average maintained its longest daily winning streak in six years as equity markets were mixed as investors speculated about the potential of another rate hike later this year.', 'Following the expected 25 basis point increase in interest rates by the US Federal Reserve, the price ofBitcoin (BTC)and other cryptocurrencies briefly rose.\nGains were brief, though, as the statement did not do anything to quell expectations that the Fed will soon end its string of interest rate hikes.\nBTC went up to as high as $29.65K, however it soon retraced and is now trading at $29.4K.Ethereum (ETH)gained to $1,885, but also traded back down to $1,873 at the time of writing.\nDespite the gains, Bitcoin is still below its peak from July of $31,800 and is generally unaffected by macroeconomic factors that have in the last year led to more pronounced market reactions.\nFederal Reserve Chairman Jerome Powell said:“We think we’re going to need to hold, certainly, policy at restrictive levels for some time, and we’d be prepared to raise further if we think that’s appropriate.”\nThe Dow Jones Industrial Average maintained its longest daily winning streak in six years as equity markets were mixed as investors speculated about the potential of another rate hike later this year.', 'US Federal Reserves Raises Rates as Expected During FOMC, BTC Price Muted Price of BTC Muted Because the U.S. Federal Reserve Is Raising Rates Following the expected 25 basis point increase in interest rates by the US Federal Reserve, the price of Bitcoin (BTC) and other cryptocurrencies briefly rose. Gains were brief, though, as the statement did not do anything to quell expectations that the Fed will soon end its string of interest rate hikes. BTC went up to as high as $29.65K, however it soon retraced and is now trading at $29.4K. Ethereum (ETH) gained to $1,885, but also traded back down to $1,873 at the time of writing. Despite the gains, Bitcoin is still below its peak from July of $31,800 and is generally unaffected by macroeconomic factors that have in the last year led to more pronounced market reactions. Federal Reserve Chairman Jerome Powell said:“We think we’re going to need to hold, certainly, policy at restrictive levels for some time, and we’d be prepared to raise further if we think that’s appropriate.” The Dow Jones Industrial Average maintained its longest daily winning streak in six years as equity markets were mixed as investors speculated about the potential of another rate hike later this year.', 'Xinhua/Wang Ying/ Getty Images US stocks were mixed on Wednesday after the Fed hiked interest rates by 25 basis points. Fed Chairman Jerome Powell left open the possibility for further interest rate hikes as inflation stays elevated. The Dow Jones Industrial Average gained to close out a 13-day win streak, its longest since 1987. US stocks were mixed on Wednesday after the Federal Reserve hiked interest rates by 25 basis points, sending the effective fed funds rate to its highest level in 22-years. While the S&P 500 and Nasdaq 100 traded slightly lower, the Dow Jones Industrial Average managed to finish the day higher, hitting a 13-day win streak. The Dow has surged just over 5% since its rally began on July 10, and hasn\'t seen a 13-day run of gains since January 1987, according to data compiled by Bloomberg. While Fed Chairman Jerome Powell left open the possibility for further interest rate hikes to combat elevated inflation, markets think that today marketd the last interest rate hike of the current tightening cycle, according to the CME FedWatch Tool. "If the inflation data come in soft enough and the labor market loosens, investors can reasonably expect the Fed to pause in September," LPL\'s chief economist Jeffrey Roach told Insider. "The Fed is likely at a balanced position right now since the risk of raising rates too much is roughly balanced with the risk of raising too little." There will be two inflation reports and two jobs reports released between now and the Fed\'s next FOMC meeting in September. Here\'s where US indexes stood at the 4:00 p.m. ET close on Wednesday: S&P 500 : 4,566.76, down 0.02% Dow Jones Industrial Average : 35,520.12, up 0.23% (82.05 points) Nasdaq Composite : 14,127.28, down 0.12% Here\'s what else happened today: Earnings season is heating up. Of the 132 S&P 500 companies that have reported second-quarter results so far, 77% beat profit estimates by a median of 6%, while 64% beat revenue estimates by a median of 3%, according to data from Fundstrat. Cardboard box sales have seen the biggest contraction since the Great Recession of 2008. Packaging Corp. of America just reported a 10% slump in second-quarter shipments. Prepare for stocks to plunge, a recession to hit, and the US dollar to falter, Interactive Brokers\' founder Thomas Peterffy warned. Traders are betting against American Airlines, Ralph Lauren, and cruise line companies as the thought of a potential recession continues to linger. Snap stock plunged as much as 20% after it reported another disappointing quarterly earnings result to investors. Alphabet stock added as much as $111 billion to its market valuation after investors and Wall Street cheered its str
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-07-27
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $567,458,240,925
- Hash Rate: 358973121.2673339
- Transaction Count: 413038.0
- Unique Addresses: 713630.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.51
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: China's yuan (CNY), one of the five currencies in the International Monetary Fund's special drawing rights basket, has depreciated by 2.7% against the U.S. dollar (USD) this month, its worst performance since September. Going back to February, the decline goes to 5% versus the greenback, and investment banking giant Goldman Sachs suggests it could drop further. Historically, yuan devaluation has been considered bullish for fiat currency alternative assets like bitcoin and gold, but the other side of that coin is a strong dollar. The U.S. unit is already on a rising trend and further strength might lead to continued monetary tightening worldwide and a headwind for risk assets, cryptocurrencies among them, say some observers. The People's Bank of China (PBOC), the country's central bank, loosely pegs CNY's value to a basket of 24 currencies through a managed-float system. The daily fix or midpoint is set every trading day to provide direction to the market. The currency basket reflects China's trading partners, and with the U.S. being the largest, the dollar has the highest weighting at 19.83%. The euro, Japanese yen, British pound, Australian dollar, Mexican Peso are some of the basket's other currencies . The PBOC's managed float allows the yuan to fluctuate 2% on either side of daily fix, and the bank manages that band via active buying and selling of yuan. If USD/CNY threatens to rally beyond the 2% limit, for instance, the PBOC sells the dollar and buys yuan to shore up the latter's value. At the same time, the bank buys the dollar against other currencies to keep the proportion of the greenback in reserves stable, ensuring the intervention gets recycled back into other foreign units. This process inadvertently puts upward pressure on the dollar index, mainly comprised of the euro and the Japanese yen, causing financial tightening worldwide and leading to risk aversion. "USD/CNY rally means PBOC will sell the pair to maintain the 2% band and has to buy the dollar against other currencies to maintain a stable proportion of USD in reserves. That pushes up the dollar index, leading to financial tightening and risk aversion," David Brickell, director of institutional sales at crypto liquidity network Paradigm, told CoinDesk. Story continues Those with borrowings in the U.S. dollar and receipts in other currencies struggle to service their debt when the dollar surges. Per Brickell, more than $17 trillion of USD debt has been issued outside of the U.S. Thus, dollar strength tends to create risk aversion worldwide. The dollar index has rallied 2.7% this month. Bitcoin, meanwhile, has declined by 7.3%, its most significant monthly loss since December. Noelle Acheson, former head of research at CoinDesk and Genesis Trading, said that the PBOC's interventions may be dollar bullish but stressed that such actions are not assured. "The PBOC has been hinting at more flexibility on the CNY target band than in the past - so it's not a given that it will intervene, especially if a weaker yuan helps exports (which are suffering)," she wrote in her latest newsletter. "Now China's priorities are different - also, PBOC has been diversifying reserves and could buy gold instead of more USD." Last month, PBOC Governor Yi Gang said that the central bank can wind down regular interventions, providing market forces more leeway in determining the yuan's exchange rate. Yi, however, stressed that the bank retains the right to intervene in times of market turbulence....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Good morning. Here’s what’s happening: Prices: Bitcoin continued to hold steady above $29.2K and is unlikely to move much until next year, an analyst says. Insights: Large bitcoin investors holding between 10 and 100 bitcoin, and between 1,000 and 10,000 BTC, are neither selling nor acquiring more of the asset. Prices CoinDesk Market Index (CMI) 1,233 −2.8 ▼ 0.2% Bitcoin (BTC) $29,242 −78.9 ▼ 0.3% Ethereum (ETH) $1,862 −6.8 ▼ 0.4% S&P 500 4,537.41 −29.3 ▼ 0.6% Gold $1,946 −22.5 ▼ 1.1% Nikkei 225 32,891.16 +222.8 ▲ 0.7% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) CoinDesk Market Index (CMI) 1,233 −2.8 ▼ 0.2% Bitcoin (BTC) $29,242 −78.9 ▼ 0.3% Ethereum (ETH) $1,862 −6.8 ▼ 0.4% S&P 500 4,537.41 −29.3 ▼ 0.6% Gold $1,946 −22.5 ▼ 1.1% Nikkei 225 32,891.16 +222.8 ▲ 0.7% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Bitcoin seems increasingly unlikely to go anywhere fast soon. As traditional asset markets in Asia opened Friday, the largest cryptocurrency by market capitalization was recently trading just above $29,240, down 0.3% over the past 24 hours and roughly where it\'s stood since a Monday dip triggered by the latest Binance mishap and bad economic news from China. With a couple of blips under, BTC has been changing hands in a $29,000 to $31,800 range since mid-June – immune from rate hikes, inflationary fears and other macro angst. Brent Xu, the CEO and co-founder of Web3 bond-market platform Umee, told CoinDesk in an email that the status quo is likely to continue. “Bitcoin barely budged following the Federal Reserve’s most recent rate hike, underscoring that this period of heightened rates has pretty much been priced in," Xu wrote. "This is certainly indicative of BTC resilience and indeed resilience for the broader digital asset market. But I’m not expecting a meaningful breakout to the upside any time soon." Story continues Ether has been similarly inert and was recently trading at $1,862, down 0.4% over the past 24 hours. Other major cryptos were largely in negative territory, albeit not by much with SOL and MATIC, the tokens of smart contract platforms Solana and Polygon, off 0.8% and 0.7%, respectively. Stellar Lumina\'s XLM token continued its recent upswing, rising 2.9% from Thursday, same time. Umee\'s Xu does not expect a return to "bull market conditions" until 2024\'s BTC halving. "That’s also when we’ll probably start seeing rate cuts happening," he wrote. "Cuts could come sooner, I should caveat, if there’s some sort of breakage that takes place, such as a credit crunch or an acceleration of the banking crisis.” Biggest Gainers Asset Ticker Returns DACS Sector Gala GALA +13.7% Entertainment XRP XRP +8.1% Currency Avalanche AVAX +3.7% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Stellar XLM −16.8% Smart Contract Platform Dogecoin DOGE −11.5% Currency Chainlink LINK −10.8% Computing Insights/News Some Bitcoin Whales Are Waiting for Price Moves The bitcoin supply held by addresses with a balance of between 10 and 100 BTC has taken a slight downward turn, indicating that these larger holders of bitcoin are content to wait at the moment. Data provided by on-chain analytics firm Glassnode underscores that investors are equal parts reluctant to add or relinquish bitcoin, but also that they do not see BTC as undervalued. Addresses holding between 1,000 and 10,000 bitcoin are exhibiting similar behavior. Oddly, the amount of bitcoin held by addresses holding between 10,000 and 100,000 has risen slightly, although for bitcoin’s largest holders with more than 100,000 BTC, the supply balance has remained stable. (Glassnode) Each of these cohorts is worth monitoring as they hold the ability to sway markets given the size of their position, and appetite or lack thereof for risk. This article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see our Ethics Policy . Important events. Bank of Japan interest rate decision and policy statement 8:30 p.m. HKT/SGT(12:30 p.m. UTC): Personal Consumption Expenditures (June/MoM/YoY) 10:30 p.m. HKT/SGT(2:30 p.m. UTC): University of Michigan Consumer Sentiment Index (July) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Prosecutors Want Sam Bankman-Fried Sent to Jail Before His Trial; Mark Zuckerberg\'s Metaverse Vision The Justice Department wants Sam Bankman-Fried to go to jail ahead of his criminal trial. ZFZ Law co-founder Michael Zweiback shared his legal analysis. Morgan Creek Capital CEO Mark Yusko weighed in on the latest rate hike from the Fed. Journey\'s chief metaverse officer Cathy Hackl discussed Meta\'s latest earnings results. And, CoinFund CEO Jake Brukhman explained why he thinks Worldcoin could help onboard billions of users into the crypto economy. Headlines Want to Mine Bitcoin at Home? DIY Bitcoiners Have Stories to Share: From an ASIC-heated swimming pool to a handmade soundproof container, these die-hards found ways to make home mining feasible, if not quite profitable. Grayscale Urges Equal Treatment for All Spot Bitcoin ETF\'s in Letter to SEC: If the SEC decides to change course and approve one or more of the above-stated spot bitcoin ETF applications, “it must do so in a fair and orderly manner,” the statement said. KIN Token Surges Over 20% After Vote to Burn 70% of Supply Passes: The token climbed on the news that about 7 trillion KIN tokens worth $156 million will be burned. A Bully Pulpit for Debanked Nigel Farage, Crypto for Everyone Else: The British Brexiteer could call on the media and his far-right friends in his debanking fight. But most of us aren\'t so lucky.', 'Good morning. Here’s what’s happening:\nPrices:Bitcoin continued to hold steady above $29.2K and is unlikely to move much until next year, an analyst says.\nInsights:Large bitcoin investors holding between 10 and 100 bitcoin, and between 1,000 and 10,000 BTC, are neither selling nor acquiring more of the asset.\nCoinDesk Market Index (CMI)\n1,233\n−2.8▼0.2%\nBitcoin (BTC)\n$29,242\n−78.9▼0.3%\nEthereum (ETH)\n$1,862\n−6.8▼0.4%\nS&P 500\n4,537.41\n−29.3▼0.6%\nGold\n$1,946\n−22.5▼1.1%\nNikkei 225\n32,891.16\n+222.8▲0.7%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,233", "\\u22122.8\\u25bc0.2%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,242", "\\u221278.9\\u25bc0.3%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,862", "\\u22126.8\\u25bc0.4%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,537.41", "\\u221229.3\\u25bc0.6%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,946", "\\u221222.5\\u25bc1.1%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,891.16", "+222.8\\u25b20.7%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBitcoin seems increasingly unlikely to go anywhere fast soon.\nAs traditional asset markets in Asia opened Friday, the largest cryptocurrency by market capitalization was recently trading just above $29,240, down 0.3% over the past 24 hours and roughly where it\'s stood since a Monday dip triggered by the latest Binance mishap and bad economic news from China.\nWith a couple of blips under, BTC has been changing hands in a $29,000 to $31,800 range since mid-June – immune from rate hikes, inflationary fears and other macro angst. Brent Xu, the CEO and co-founder of Web3 bond-market platform Umee, told CoinDesk in an email that the status quo is likely to continue.\n“Bitcoin barely budged following the Federal Reserve’s most recent rate hike, underscoring that this period of heightened rates has pretty much been priced in," Xu wrote. "This is certainly indicative of BTC resilience and indeed resilience for the broader digital asset market. But I’m not expecting a meaningful breakout to the upside any time soon."\nEther has been similarly inert and was recently trading at $1,862, down 0.4% over the past 24 hours. Other major cryptos were largely in negative territory, albeit not by much with SOL and MATIC, the tokens of smart contract platforms Solana and Polygon, off 0.8% and 0.7%, respectively. Stellar Lumina\'s XLM token continued its recent upswing, rising 2.9% from Thursday, same time.\nUmee\'s Xu does not expect a return to "bull market conditions" until 2024\'s BTC halving. "That’s also when we’ll probably start seeing rate cuts happening," he wrote. "Cuts could come sooner, I should caveat, if there’s some sort of breakage that takes place, such as a credit crunch or an acceleration of the banking crisis.”\n[{"Asset": "Gala", "Ticker": "GALA", "Returns": "+13.7%", "DACS Sector": "Entertainment"}, {"Asset": "XRP", "Ticker": "XRP", "Returns": "+8.1%", "DACS Sector": "Currency"}, {"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "+3.7%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221216.8%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u221211.5%", "DACS Sector": "Currency"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u221210.8%", "DACS Sector": "Computing"}]\nSome Bitcoin Whales Are Waiting for Price Moves\nThe bitcoin supply held by addresses with a balance of between 10 and 100 BTC has taken a slight downward turn, indicating that these larger holders of bitcoin are content to wait at the moment.\nData provided by on-chain analytics firmGlassnodeunderscores that investors are equal parts reluctant to add or relinquish bitcoin, but also that they do not see BTC as undervalued.\nAddresses holding between 1,000 and 10,000 bitcoin are exhibiting similar behavior.\nOddly, the amount of bitcoin held by addresses holding between 10,000 and 100,000 has risen slightly, although for bitcoin’s largest holders with more than 100,000 BTC, the supply balance has remained stable.\nEach of these cohorts is worth monitoring as they hold the ability to sway markets given the size of their position, and appetite or lack thereof for risk.\nThis article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see ourEthics Policy.\nBank of Japan interest rate decision and policy statement\n8:30 p.m. HKT/SGT(12:30 p.m. UTC):Personal Consumption Expenditures (June/MoM/YoY)\n10:30 p.m. HKT/SGT(2:30 p.m. UTC):University of Michigan Consumer Sentiment Index (July)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nProsecutors Want Sam Bankman-Fried Sent to Jail Before His Trial; Mark Zuckerberg\'s Metaverse Vision\nThe Justice Department wants Sam Bankman-Fried to go to jail ahead of his criminal trial. ZFZ Law co-founder Michael Zweiback shared his legal analysis. Morgan Creek Capital CEO Mark Yusko weighed in on the latest rate hike from the Fed. Journey\'s chief metaverse officer Cathy Hackl discussed Meta\'s latest earnings results. And, CoinFund CEO Jake Brukhman explained why he thinks Worldcoin could help onboard billions of users into the crypto economy.\nWant to Mine Bitcoin at Home? DIY Bitcoiners Have Stories to Share:From an ASIC-heated swimming pool to a handmade soundproof container, these die-hards found ways to make home mining feasible, if not quite profitable.\nGrayscale Urges Equal Treatment for All Spot Bitcoin ETF\'s in Letter to SEC:If the SEC decides to change course and approve one or more of the above-stated spot bitcoin ETF applications, “it must do so in a fair and orderly manner,” the statement said.\nKIN Token Surges Over 20% After Vote to Burn 70% of Supply Passes:The token climbed on the news that about 7 trillion KIN tokens worth $156 million will be burned.\nA Bully Pulpit for Debanked Nigel Farage, Crypto for Everyone Else:The British Brexiteer could call on the media and his far-right friends in his debanking fight. But most of us aren\'t so lucky.', 'Good morning. Here’s what’s happening:\nPrices:Bitcoin continued to hold steady above $29.2K and is unlikely to move much until next year, an analyst says.\nInsights:Large bitcoin investors holding between 10 and 100 bitcoin, and between 1,000 and 10,000 BTC, are neither selling nor acquiring more of the asset.\nCoinDesk Market Index (CMI)\n1,233\n−2.8▼0.2%\nBitcoin (BTC)\n$29,242\n−78.9▼0.3%\nEthereum (ETH)\n$1,862\n−6.8▼0.4%\nS&P 500\n4,537.41\n−29.3▼0.6%\nGold\n$1,946\n−22.5▼1.1%\nNikkei 225\n32,891.16\n+222.8▲0.7%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,233", "\\u22122.8\\u25bc0.2%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,242", "\\u221278.9\\u25bc0.3%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,862", "\\u22126.8\\u25bc0.4%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,537.41", "\\u221229.3\\u25bc0.6%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,946", "\\u221222.5\\u25bc1.1%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,891.16", "+222.8\\u25b20.7%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBitcoin seems increasingly unlikely to go anywhere fast soon.\nAs traditional asset markets in Asia opened Friday, the largest cryptocurrency by market capitalization was recently trading just above $29,240, down 0.3% over the past 24 hours and roughly where it\'s stood since a Monday dip triggered by the latest Binance mishap and bad economic news from China.\nWith a couple of blips under, BTC has been changing hands in a $29,000 to $31,800 range since mid-June – immune from rate hikes, inflationary fears and other macro angst. Brent Xu, the CEO and co-founder of Web3 bond-market platform Umee, told CoinDesk in an email that the status quo is likely to continue.\n“Bitcoin barely budged following the Federal Reserve’s most recent rate hike, underscoring that this period of heightened rates has pretty much been priced in," Xu wrote. "This is certainly indicative of BTC resilience and indeed resilience for the broader digital asset market. But I’m not expecting a meaningful breakout to the upside any time soon."\nEther has been similarly inert and was recently trading at $1,862, down 0.4% over the past 24 hours. Other major cryptos were largely in negative territory, albeit not by much with SOL and MATIC, the tokens of smart contract platforms Solana and Polygon, off 0.8% and 0.7%, respectively. Stellar Lumina\'s XLM token continued its recent upswing, rising 2.9% from Thursday, same time.\nUmee\'s Xu does not expect a return to "bull market conditions" until 2024\'s BTC halving. "That’s also when we’ll probably start seeing rate cuts happening," he wrote. "Cuts could come sooner, I should caveat, if there’s some sort of breakage that takes place, such as a credit crunch or an acceleration of the banking crisis.”\n[{"Asset": "Gala", "Ticker": "GALA", "Returns": "+13.7%", "DACS Sector": "Entertainment"}, {"Asset": "XRP", "Ticker": "XRP", "Returns": "+8.1%", "DACS Sector": "Currency"}, {"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "+3.7%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221216.8%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u221211.5%", "DACS Sector": "Currency"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u221210.8%", "DACS Sector": "Computing"}]\nSome Bitcoin Whales Are Waiting for Price Moves\nThe bitcoin supply held by addresses with a balance of between 10 and 100 BTC has taken a slight downward turn, indicating that these larger holders of bitcoin are content to wait at the moment.\nData provided by on-chain analytics firmGlassnodeunderscores that investors are equal parts reluctant to add or relinquish bitcoin, but also that they do not see BTC as undervalued.\nAddresses holding between 1,000 and 10,000 bitcoin are exhibiting similar behavior.\nOddly, the amount of bitcoin held by addresses holding between 10,000 and 100,000 has risen slightly, although for bitcoin’s largest holders with more than 100,000 BTC, the supply balance has remained stable.\nEach of these cohorts is worth monitoring as they hold the ability to sway markets given the size of their position, and appetite or lack thereof for risk.\nThis article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see ourEthics Policy.\nBank of Japan interest rate decision and policy statement\n8:30 p.m. HKT/SGT(12:30 p.m. UTC):Personal Consumption Expenditures (June/MoM/YoY)\n10:30 p.m. HKT/SGT(2:30 p.m. UTC):University of Michigan Consumer Sentiment Index (July)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nProsecutors Want Sam Bankman-Fried Sent to Jail Before His Trial; Mark Zuckerberg\'s Metaverse Vision\nThe Justice Department wants Sam Bankman-Fried to go to jail ahead of his criminal trial. ZFZ Law co-founder Michael Zweiback shared his legal analysis. Morgan Creek Capital CEO Mark Yusko weighed in on the latest rate hike from the Fed. Journey\'s chief metaverse officer Cathy Hackl discussed Meta\'s latest earnings results. And, CoinFund CEO Jake Brukhman explained why he thinks Worldcoin could help onboard billions of users into the crypto economy.\nWant to Mine Bitcoin at Home? DIY Bitcoiners Have Stories to Share:From an ASIC-heated swimming pool to a handmade soundproof container, these die-hards found ways to make home mining feasible, if not quite profitable.\nGrayscale Urges Equal Treatment for All Spot Bitcoin ETF\'s in Letter to SEC:If the SEC decides to change course and approve one or more of the above-stated spot bitcoin ETF applications, “it must do so in a fair and orderly manner,” the statement said.\nKIN Token Surges Over 20% After Vote to Burn 70% of Supply Passes:The token climbed on the news that about 7 trillion KIN tokens worth $156 million will be burned.\nA Bully Pulpit for Debanked Nigel Farage, Crypto for Everyone Else:The British Brexiteer could call on the media and his far-right friends in his debanking fight. But most of us aren\'t so lucky.', '(Reuters) -Binance and its CEO Changpeng Zhao have filed a motion to dismiss a complaint against the cryptocurrency exchange by the U.S. Commodity Futures Trading Commission (CFTC), the company said in a court filing on Thursday. The CFTC sued Binance, Zhao and former Chief Compliance Officer Samuel Lim in March, alleging they violated the Commodity Exchange Act and certain related federal regulations, and for operating what the regulator said was an "illegal" exchange and a "sham" compliance program. Binance, the world\'s largest cryptocurrency exchange, said the CFTC\'s case should be dismissed because it sought to regulate foreign individuals and corporations that reside and operate outside the United States. It also quoted a 2007 ruling that stated: "United States law governs domestically but does not rule the world." The holding company of Binance is based in the Cayman Islands, while CEO Zhao is a Canadian citizen. The CFTC\'s complaint said that from at least July 2019, Binance "offered and executed commodity derivatives transactions on behalf of U.S. persons" in violation of U.S. laws. In its reply, Binance said that by June 2019, Binance.com had begun implementing steps to restrict and off-board potential U.S. users and ensure that new users were not U.S. persons. "Importantly, Binance.com did not begin to offer the alleged digital asset derivative products until July 2019 and later —after it began to restrict and off-board potential U.S. users," the company said. Lim filed a separate motion to dismiss the CFTC claims against him. The CFTC, which is responsible for the oversight of commodities and derivatives markets, including Bitcoin, declined to comment on the filing. Binance and Zhao were also sued by the U.S. Securities and Exchange Commission (SEC) in June for allegedly operating a "web of deception," listing 13 charges against Binance, Zhao and the operator of its purportedly independent U.S. exchange. (Reporting by Juby Babu and Shubham Kalia in Bengaluru; Editing by Tom Hogue and Jamie Freed)', '(Reuters) -Binance and its CEO Changpeng Zhao have filed a motion to dismiss a complaint against the cryptocurrency exchange by the U.S. Commodity Futures Trading Commission (CFTC), the company said in a court filing on Thursday. The CFTC sued Binance, Zhao and former Chief Compliance Officer Samuel Lim in March, alleging they violated the Commodity Exchange Act and certain related federal regulations, and for operating what the regulator said was an "illegal" exchange and a "sham" compliance program. Binance, the world\'s largest cryptocurrency exchange, said the CFTC\'s case should be dismissed because it sought to regulate foreign individuals and corporations that reside and operate outside the United States. It also quoted a 2007 ruling that stated: "United States law governs domestically but does not rule the world." The holding company of Binance is based in the Cayman Islands, while CEO Zhao is a Canadian citizen. The CFTC\'s complaint said that from at least July 2019, Binance "offered and executed commodity derivatives transactions on behalf of U.S. persons" in violation of U.S. laws. In its reply, Binance said that by June 2019, Binance.com had begun implementing steps to restrict and off-board potential U.S. users and ensure that new users were not U.S. persons. "Importantly, Binance.com did not begin to offer the alleged digital asset derivative products until July 2019 and later \x97after it began to restrict and off-board potential U.S. users," the company said. Lim filed a separate motion to dismiss the CFTC claims against him. The CFTC, which is responsible for the oversight of commodities and derivatives markets, including Bitcoin, declined to comment on the filing. Binance and Zhao were also sued by the U.S. Securities and Exchange Commission (SEC) in June for allegedly operating a "web of deception," listing 13 charges against Binance, Zhao and the operator of its purportedly independent U.S. exchange. (Reporting by Juby Babu and Shubham Kalia in Bengaluru; Editing by Tom Hogue and Jamie Freed)', '(Reuters) -Binance and its CEO Changpeng Zhao have filed a motion to dismiss a complaint against the cryptocurrency exchange by the U.S. Commodity Futures Trading Commission (CFTC), the company said in a court filing on Thursday. The CFTC sued Binance, Zhao and former Chief Compliance Officer Samuel Lim in March, alleging they violated the Commodity Exchange Act and certain related federal regulations, and for operating what the regulator said was an "illegal" exchange and a "sham" compliance program. Binance, the world\'s largest cryptocurrency exchange, said the CFTC\'s case should be dismissed because it sought to regulate foreign individuals and corporations that reside and operate outside the United States. It also quoted a 2007 ruling that stated: "United States law governs domestically but does not rule the world." The holding company of Binance is based in the Cayman Islands, while CEO Zhao is a Canadian citizen. The CFTC\'s complaint said that from at least July 2019, Binance "offered and executed commodity derivatives transactions on behalf of U.S. persons" in violation of U.S. laws. In its reply, Binance said that by June 2019, Binance.com had begun implementing steps to restrict and off-board potential U.S. users and ensure that new users were not U.S. persons. "Importantly, Binance.com did not begin to offer the alleged digital asset derivative products until July 2019 and later —after it began to restrict and off-board potential U.S. users," the company said. Lim filed a separate motion to dismiss the CFTC claims against him. The CFTC, which is responsible for the oversight of commodities and derivatives markets, including Bitcoin, declined to comment on the filing. Binance and Zhao were also sued by the U.S. Securities and Exchange Commission (SEC) in June for allegedly operating a "web of deception," listing 13 charges against Binance, Zhao and the operator of its purportedly independent U.S. exchange. (Reporting by Juby Babu and Shubham Kalia in Bengaluru; Editing by Tom Hogue and Jamie Freed)', 'Bitcoin and Ether prices were largely mixed but running into the red on Friday morning in Asia, with both looking to end the week in the losers column after a period of directionless trading. The interest rate hike by the Federal Reserve on Wednesday was followed by a bigger than expected GDP number in the U.S. overnight, raising concern about rates staying higher for longer. Japan tweaked its ultra-loose interest rate policy on Friday, adding to the risk-averse mood. Most other top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners after the world’s largest crypto exchange said it would fully restore operations in Japan in August. The Forkast 500 NFT index dipped and U.S. equity futures moved higher after a down day on Wall Street on Thursday.\nBitcoin dipped 0.41% in the last 24 hours to US$29,211 as of 07:45 a.m. in Hong Kong, bringing its loss for the past seven days to 1.97%, according todatafrom CoinMarketCap. The world’s largest cryptocurrency skidded lower on Thursday evening, managing to stay above support at US$29,000, but only just.\nConcern about higher interest rates compounded on Friday for risk assets like cryptocurrencies when the Bank of Japan – one of the last major central banks to maintain a loose monetary policy – adjusted its yield curve control policy, potentially creaking open the door to higher rates and raising the cost of money.\nThe Bank of Japan changing its ultra-loose monetary policies could be an issue to the crypto market, which is running out of price catalysts, Markus Thielen, head of crypto research & strategy at digital asset service platformMatrixport, said in an emailed comment.\nThe recent Bitcoin exchange-traded fund (ETF) filings in the U.S. could have boosted crypto higher but, “prices have instead been range-bound,” according to a Matrixportreporton Thursday.\n“The Grayscale Bitcoin Trust (GBTC) net asset value has lowered itsdiscountfrom -45% to just -27% this year, but as the discount has started to widen again (from -25%), we see this as a sign that the Blackrock Bitcoin ETF news is losing momentum. The result could be a drop in Bitcoin prices,” said the report.\n“Predictably, the crypto market has become very quiet during these summer weeks. This has caused trading volumes and volatility to fall markedly. Investors might be well advised to replace their Bitcoin spot with Bitcoin options, notably upside calls, as lower volatility has made option prices cheaper.”\nAlong with Bitcoin, Ether dipped 0.51% to US$1,860, down 1.68% for the seven-day period.\nOther top 10 non-stablecoin cryptocurrencies traded mixed, with Polygon’s MATIC leading the losers, and Binance’s BNB the winners.\nBinance’s BNB gained 0.75% to US$240.46, but was still trading 0.98% lower for the week.\nChangpeng Zhao, chief executive officer of Binance,announcedat the WebX conference in Tokyo on Wednesday that the crypto exchange will restore full operations in Japan in August.\n“Japan is a flagship leader in this (Web3) area and I think is an example for the rest of the world to follow. And to that end, Binance is extremely happy to participate in the Japanese market again,” said Zhao in his address.\nOn the regulatory front in the U.S., the U.S. House Financial Services Committeepasseda bill Wednesday aimed at defining whether cryptocurrencies are securities or commodities.\nThe bill, Financial Innovation and Technology for the 21st Century Act, seeks to increase the Commodity Futures Trading Commission’s oversight over the crypto industry and clarify the jurisdiction of the Securities and Exchange Commission (SEC).\nThe House of Representatives Agricultural Committee alsovotedon Thursday to approve the bill, which now moves to the House floor.\n“The US regulatory permafrost is thawing. For the first time, Congress took critical steps to establish a comprehensive federal regulatory framework for digital assets in the US,” said\xa0Sheila Warren, CEO of theCrypto Council for Innovation– a global alliance of crypto industry leaders, in an emailed comment.\n“Policymakers recognize that not only does legal uncertainty stifle responsible innovation, but it threatens to create an environment in which American investors must turn offshore,” Warren added.\nThe total crypto market capitalization dipped 0.47% in the past 24 hours to US$1.18 trillion, while trading volume dropped 16.53% to US$26.07 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdipped 0.65% in the past 24 hours to 2,619.60 as of 10:00 a.m. in Hong Kong, down 2.95% for the week. Forkast’s Ethereum, Solana and Polygon NFT market indexes all logged losses, while Cardano’s index edged higher.\nTotal NFT trading volume fell 16.28% in the past 24 hours to US$16.84 million, according to data fromCryptoSlam. Volumes on the Ethereum, BNB Chain, Bitcoin and Polygon networks fell. The Solana, Mythos Chain, Immutable X and Cardano networks logged increases.\nBy NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volumes, which edged up 2.92% to US$931,750.\nBut over a longer time scale the trading picture for BAYC doesn’t look so pretty, with the collection’s 30-day volume slumping 82% and the floor price falling 15% in the same period, according to NFT data trackerWGMI.io.\nAn NFT highlight this week is the Genkai collection of 20,000 anime-themed NFTs based on the CyberKongz NFT series. It was launched on Thursday and available on Ethereum and the Ronin blockchain operated by Sky Mavis, the Vietnam-based developer behind breakout play-to-earn titleAxie Infinity.\nStill, the overall trading slump caused a bit of a stumble for Genkai.\n“The market continued to be very slow and the CyberKongz failed to mint out their full (Genkai) collection. However, they didsell outtheir full supply of NFTs on Ronin within an hour and so have raised roughly US$2 million,” said Yehudah Petscher, NFT Strategist at Forkast Labs.\n“Because of the slow sales in the Genkai collection, the team isgivingfree extra NFTs to those who mint, continuing a long tradition in NFTs of rewarding holders,” said Petscher.\nElsewhere, the U.S.-based online music store Beatport, which is known for selling music resources to DJs for remixes,launchedits NFT marketplace Beatport.io on Thursday, where users can buy, sell and trade electronic music recordings as NFTs.\nThe Beatport NFT marketplace was developed in partnership with Germany-based Web3 startup Define Creative, and is built on Aventus, a parachain based on the Polkadot network.\nU.S. stock futurestradedhigher as of 11:30 a.m. on Friday in Hong Kong. The three major U.S. stock indexes closed lower in regular trading the prior day, with the Dow Jones Industrial Average leading the losers with a 0.67% slide, ending its longest winning streak since 1987.\nIn Asia, the main stock indexes were mixed on Friday morning. China’sShanghai Compositeand Hong Kong’sHang Sengrose, while South Korea’sKospiand Japan’sNikkeilogged losses.\nU.S. gross domestic product (GDP) accelerated to 2.4% in the second quarter of the year, the Commerce Departmentsaidon Thursday. The number beat analysts’ expectation of 1.8% growth, further easing fears about a recession this year, Reutersreportedon Friday.\nHowever, the bad news in that good news is faster GDP growth may suggest to the Federal Reserve it needs to do more policy tightening to curb inflation, according to aBloombergreport on Thursday.\nHowever, the GDPreportdid show signs of a slowdown in price gains. The index for gross domestic purchases, an inflation gauge, rose at an annual rate of 1.9% in the second quarter, the slowest in three years.\nElsewhere, the Bank of Japan (BOJ)announcedon Friday it will maintain its ultra-low interest rates, keeping its short-term policy interest rate target at -0.1% and the 10-year government bond yield at around 0%.\nBut the BOJ alsoannouncedan adjustment to its so-calledyield curve control policy, saying it will allow “greater flexibility” in use of the monetary tool, a move seen by some investors as the first baby steps to the BOJ trying to normalize policy after years of an ultra-loose monetary regime to combat deflation.\nThe tool, known as YCC, aims to control the shape of the bond yield curve to suppress short- to medium-term rates – which affect corporate borrowers – without depressing super-long yields too much and reducing returns for pension funds and life insurers, according to theexplainerby Reuters.\n(Adds equity section, updates introduction on BOJ, equity futures.)', 'Bitcoin and Ether prices were largely mixed but running into the red on Friday morning in Asia, with both looking to end the week in the losers column after a period of directionless trading. The interest rate hike by the Federal Reserve on Wednesday was followed by a bigger than expected GDP number in the U.S. overnight, raising concern about rates staying higher for longer. Japan tweaked its ultra-loose interest rate policy on Friday, adding to the risk-averse mood. Most other top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners after the world’s largest crypto exchange said it would fully restore operations in Japan in August. The Forkast 500 NFT index dipped and U.S. equity futures moved higher after a down day on Wall Street on Thursday.\nBitcoin dipped 0.41% in the last 24 hours to US$29,211 as of 07:45 a.m. in Hong Kong, bringing its loss for the past seven days to 1.97%, according todatafrom CoinMarketCap. The world’s largest cryptocurrency skidded lower on Thursday evening, managing to stay above support at US$29,000, but only just.\nConcern about higher interest rates compounded on Friday for risk assets like cryptocurrencies when the Bank of Japan – one of the last major central banks to maintain a loose monetary policy – adjusted its yield curve control policy, potentially creaking open the door to higher rates and raising the cost of money.\nThe Bank of Japan changing its ultra-loose monetary policies could be an issue to the crypto market, which is running out of price catalysts, Markus Thielen, head of crypto research & strategy at digital asset service platformMatrixport, said in an emailed comment.\nThe recent Bitcoin exchange-traded fund (ETF) filings in the U.S. could have boosted crypto higher but, “prices have instead been range-bound,” according to a Matrixportreporton Thursday.\n“The Grayscale Bitcoin Trust (GBTC) net asset value has lowered itsdiscountfrom -45% to just -27% this year, but as the discount has started to widen again (from -25%), we see this as a sign that the Blackrock Bitcoin ETF news is losing momentum. The result could be a drop in Bitcoin prices,” said the report.\n“Predictably, the crypto market has become very quiet during these summer weeks. This has caused trading volumes and volatility to fall markedly. Investors might be well advised to replace their Bitcoin spot with Bitcoin options, notably upside calls, as lower volatility has made option prices cheaper.”\nAlong with Bitcoin, Ether dipped 0.51% to US$1,860, down 1.68% for the seven-day period.\nOther top 10 non-stablecoin cryptocurrencies traded mixed, with Polygon’s MATIC leading the losers, and Binance’s BNB the winners.\nBinance’s BNB gained 0.75% to US$240.46, but was still trading 0.98% lower for the week.\nChangpeng Zhao, chief executive officer of Binance,announcedat the WebX conference in Tokyo on Wednesday that the crypto exchange will restore full operations in Japan in August.\n“Japan is a flagship leader in this (Web3) area and I think is an example for the rest of the world to follow. And to that end, Binance is extremely happy to participate in the Japanese market again,” said Zhao in his address.\nOn the regulatory front in the U.S., the U.S. House Financial Services Committeepasseda bill Wednesday aimed at defining whether cryptocurrencies are securities or commodities.\nThe bill, Financial Innovation and Technology for the 21st Century Act, seeks to increase the Commodity Futures Trading Commission’s oversight over the crypto industry and clarify the jurisdiction of the Securities and Exchange Commission (SEC).\nThe House of Representatives Agricultural Committee alsovotedon Thursday to approve the bill, which now moves to the House floor.\n“The US regulatory permafrost is thawing. For the first time, Congress took critical steps to establish a comprehensive federal regulatory framework for digital assets in the US,” said\xa0Sheila Warren, CEO of theCrypto Council for Innovation– a global alliance of crypto industry leaders, in an emailed comment.\n“Policymakers recognize that not only does legal uncertainty stifle responsible innovation, but it threatens to create an environment in which American investors must turn offshore,” Warren added.\nThe total crypto market capitalization dipped 0.47% in the past 24 hours to US$1.18 trillion, while trading volume dropped 16.53% to US$26.07 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdipped 0.65% in the past 24 hours to 2,619.60 as of 10:00 a.m. in Hong Kong, down 2.95% for the week. Forkast’s Ethereum, Solana and Polygon NFT market indexes all logged losses, while Cardano’s index edged higher.\nTotal NFT trading volume fell 16.28% in the past 24 hours to US$16.84 million, according to data fromCryptoSlam. Volumes on the Ethereum, BNB Chain, Bitcoin and Polygon networks fell. The Solana, Mythos Chain, Immutable X and Cardano networks logged increases.\nBy NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volumes, which edged up 2.92% to US$931,750.\nBut over a longer time scale the trading picture for BAYC doesn’t look so pretty, with the collection’s 30-day volume slumping 82% and the floor price falling 15% in the same period, according to NFT data trackerWGMI.io.\nAn NFT highlight this week is the Genkai collection of 20,000 anime-themed NFTs based on the CyberKongz NFT series. It was launched on Thursday and available on Ethereum and the Ronin blockchain operated by Sky Mavis, the Vietnam-based developer behind breakout play-to-earn titleAxie Infinity.\nStill, the overall trading slump caused a bit of a stumble for Genkai.\n“The market continued to be very slow and the CyberKongz failed to mint out their full (Genkai) collection. However, they didsell outtheir full supply of NFTs on Ronin within an hour and so have raised roughly US$2 million,” said Yehudah Petscher, NFT Strategist at Forkast Labs.\n“Because of the slow sales in the Genkai collection, the team isgivingfree extra NFTs to those who mint, continuing a long tradition in NFTs of rewarding holders,” said Petscher.\nElsewhere, the U.S.-based online music store Beatport, which is known for selling music resources to DJs for remixes,launchedits NFT marketplace Beatport.io on Thursday, where users can buy, sell and trade electronic music recordings as NFTs.\nThe Beatport NFT marketplace was developed in partnership with Germany-based Web3 startup Define Creative, and is built on Aventus, a parachain based on the Polkadot network.\nU.S. stock futurestradedhigher as of 11:30 a.m. on Friday in Hong Kong. The three major U.S. stock indexes closed lower in regular trading the prior day, with the Dow Jones Industrial Average leading the losers with a 0.67% slide, ending its longest winning streak since 1987.\nIn Asia, the main stock indexes were mixed on Friday morning. China’sShanghai Compositeand Hong Kong’sHang Sengrose, while South Korea’sKospiand Japan’sNikkeilogged losses.\nU.S. gross domestic product (GDP) accelerated to 2.4% in the second quarter of the year, the Commerce Departmentsaidon Thursday. The number beat analysts’ expectation of 1.8% growth, further easing fears about a recession this year, Reutersreportedon Friday.\nHowever, the bad news in that good news is faster GDP growth may suggest to the Federal Reserve it needs to do more policy tightening to curb inflation, according to aBloombergreport on Thursday.\nHowever, the GDPreportdid show signs of a slowdown in price gains. The index for gross domestic purchases, an inflation gauge, rose at an annual rate of 1.9% in the second quarter, the slowest in three years.\nElsewhere, the Bank of Japan (BOJ)announcedon Friday it will maintain its ultra-low interest rates, keeping its short-term policy interest rate target at -0.1% and the 10-year government bond yield at around 0%.\nBut the BOJ alsoannouncedan adjustment to its so-calledyield curve control policy, saying it will allow “greater flexibility” in use of the monetary tool, a move seen by some investors as the first baby steps to the BOJ trying to normalize policy after years of an ultra-loose monetary regime to combat deflation.\nThe tool, known as YCC, aims to control the shape of the bond yield curve to suppress short- to medium-term rates – which affect corporate borrowers – without depressing super-long yields too much and reducing returns for pension funds and life insurers, according to theexplainerby Reuters.\n(Adds equity section, updates introduction on BOJ, equity futures.)', 'Bitcoin and Ether prices were largely mixed but running into the red on Friday morning in Asia, with both looking to end the week in the losers column after a period of directionless trading. The interest rate hike by the Federal Reserve on Wednesday was followed by a bigger than expected GDP number in the U.S. overnight, raising concern about rates staying higher for longer. Japan tweaked its ultra-loose interest rate policy on Friday, adding to the risk-averse mood. Most other top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners after the world’s largest crypto exchange said it would fully restore operations in Japan in August. The Forkast 500 NFT index dipped and U.S. equity futures moved higher after a down day on Wall Street on Thursday. Losing steam Bitcoin dipped 0.41% in the last 24 hours to US$29,211 as of 07:45 a.m. in Hong Kong, bringing its loss for the past seven days to 1.97%, according to data from CoinMarketCap. The world’s largest cryptocurrency skidded lower on Thursday evening, managing to stay above support at US$29,000, but only just. Concern about higher interest rates compounded on Friday for risk assets like cryptocurrencies when the Bank of Japan – one of the last major central banks to maintain a loose monetary policy – adjusted its yield curve control policy, potentially creaking open the door to higher rates and raising the cost of money. The Bank of Japan changing its ultra-loose monetary policies could be an issue to the crypto market, which is running out of price catalysts, Markus Thielen, head of crypto research & strategy at digital asset service platform Matrixport , said in an emailed comment. The recent Bitcoin exchange-traded fund (ETF) filings in the U.S. could have boosted crypto higher but, “prices have instead been range-bound,” according to a Matrixport report on Thursday. “The Grayscale Bitcoin Trust (GBTC) net asset value has lowered its discount from -45% to just -27% this year, but as the discount has started to widen again (from -25%), we see this as a sign that the Blackrock Bitcoin ETF news is losing momentum. The result could be a drop in Bitcoin prices,” said the report. Story continues “Predictably, the crypto market has become very quiet during these summer weeks. This has caused trading volumes and volatility to fall markedly. Investors might be well advised to replace their Bitcoin spot with Bitcoin options, notably upside calls, as lower volatility has made option prices cheaper.” Along with Bitcoin, Ether dipped 0.51% to US$1,860, down 1.68% for the seven-day period. Other top 10 non-stablecoin cryptocurrencies traded mixed, with Polygon’s MATIC leading the losers, and Binance’s BNB the winners. Binance’s BNB gained 0.75% to US$240.46, but was still trading 0.98% lower for the week. Changpeng Zhao, chief executive officer of Binance, announced at the WebX conference in Tokyo on Wednesday that the crypto exchange will restore full operations in Japan in August. “Japan is a flagship leader in this (Web3) area and I think is an example for the rest of the world to follow. And to that end, Binance is extremely happy to participate in the Japanese market again,” said Zhao in his address. On the regulatory front in the U.S., the U.S. House Financial Services Committee passed a bill Wednesday aimed at defining whether cryptocurrencies are securities or commodities. The bill, Financial Innovation and Technology for the 21st Century Act, seeks to increase the Commodity Futures Trading Commission’s oversight over the crypto industry and clarify the jurisdiction of the Securities and Exchange Commission (SEC). The House of Representatives Agricultural Committee also voted on Thursday to approve the bill, which now moves to the House floor. “The US regulatory permafrost is thawing. For the first time, Congress took critical steps to establish a comprehensive federal regulatory framework for digital assets in the US,” said\xa0Sheila Warren, CEO of the Crypto Council for Innovation – a global alliance of crypto industry leaders, in an emailed comment. “Policymakers recognize that not only does legal uncertainty stifle responsible innovation, but it threatens to create an environment in which American investors must turn offshore,” Warren added. The total crypto market capitalization dipped 0.47% in the past 24 hours to US$1.18 trillion, while trading volume dropped 16.53% to US$26.07 billion. Forkast 500 dips (again), CyberKongz’s Genkai stumbles The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index dipped 0.65% in the past 24 hours to 2,619.60 as of 10:00 a.m. in Hong Kong, down 2.95% for the week. Forkast’s Ethereum, Solana and Polygon NFT market indexes all logged losses, while Cardano’s index edged higher. Total NFT trading volume fell 16.28% in the past 24 hours to US$16.84 million, according to data from CryptoSlam . Volumes on the Ethereum, BNB Chain, Bitcoin and Polygon networks fell. The Solana, Mythos Chain, Immutable X and Cardano networks logged increases. By NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volumes, which edged up 2.92% to US$931,750. But over a longer time scale the trading picture for BAYC doesn’t look so pretty, with the collection’s 30-day volume slumping 82% and the floor price falling 15% in the same period, according to NFT data tracker WGMI.io . An NFT highlight this week is the Genkai collection of 20,000 anime-themed NFTs based on the CyberKongz NFT series. It was launched on Thursday and available on Ethereum and the Ronin blockchain operated by Sky Mavis, the Vietnam-based developer behind breakout play-to-earn title Axie Infinity . Still, the overall trading slump caused a bit of a stumble for Genkai. “The market continued to be very slow and the CyberKongz failed to mint out their full (Genkai) collection. However, they did sell out their full supply of NFTs on Ronin within an hour and so have raised roughly US$2 million,” said Yehudah Petscher, NFT Strategist at Forkast Labs. “Because of the slow sales in the Genkai collection, the team is giving free extra NFTs to those who mint, continuing a long tradition in NFTs of rewarding holders,” said Petscher. Elsewhere, the U.S.-based online music store Beatport, which is known for selling music resources to DJs for remixes, launched its NFT marketplace Beatport.io on Thursday, where users can buy, sell and trade electronic music recordings as NFTs. The Beatport NFT marketplace was developed in partnership with Germany-based Web3 startup Define Creative, and is built on Aventus, a parachain based on the Polkadot network. U.S. equity futures shrug off rate concerns Image: Getty Images U.S. stock futures traded higher as of 11:30 a.m. on Friday in Hong Kong. The three major U.S. stock indexes closed lower in regular trading the prior day, with the Dow Jones Industrial Average leading the losers with a 0.67% slide, ending its longest winning streak since 1987. In Asia, the main stock indexes were mixed on Friday morning. China’s Shanghai Composite and Hong Kong’s Hang Seng rose, while South Korea’s Kospi and Japan’s Nikkei logged losses. U.S. gross domestic product (GDP) accelerated to 2.4% in the second quarter of the year, the Commerce Department said on Thursday. The number beat analysts’ expectation of 1.8% growth, further easing fears about a recession this year, Reuters reported on Friday. However, the bad news in that good news is faster GDP growth may suggest to the Federal Reserve it needs to do more policy tightening to curb inflation, according to a Bloomberg report on Thursday. However, the GDP report did show signs of a slowdown in price gains. The index for gross domestic purchases, an inflation gauge, rose at an annual rate of 1.9% in the sec
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-07-28
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $571,407,698,212
- Hash Rate: 364175630.2712082
- Transaction Count: 449225.0
- Unique Addresses: 720574.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.52
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Ava Labs, the development company behind the Avalanche network, announced on Tuesday the launch of AvaGPT, the latest entry in a flurry of deployments of OpenAI's ChatGPT technology among blockchain companies.
"The two things [AvaGPT] is providing is answering general questions for Avalanche users quickly, while also letting them still access our support team," Ava Labs Technical Product Manager Kieran McShane toldDecrypt. "It was out of an effort to help answer questions quicker and get to the source material immediately.”
As McShane explained, AvaGPT was created in collaboration with ChatGPT service providerKapa AIand integrated into the Ava LabsCoreplatform. The development of AvaGPT, McShane added, was led by the Ava Labs support team and engineers.
"We make sure [AvaGPT] is trained specifically and only on Avalanche documentation," McShane said, reiterating that the Ava Labs customer support team can help answer questions.
Solana Labs Preps ChatGPT Plugin for Real-Time Blockchain Analysis
Ava Labs' Core is a platform developed by Ava Labs that supports several blockchains, including Avalanche, Bitcoin, and Ethereum.
"Our users are on Core and utilize it a lot, and we have a lot more very Avalanche-specific features coming in the future," he said, adding that Ava Labs already utilizes chatbot technology on its Discord server to answer questions.
Founded in 2018, New York-based Ava Labs launched theAvalancheproof-of-stake(PoS) blockchain in September 2020. In June 2022, Ava Labs released Core wallet as a Chrome extension. That same year Core’s web portfolio launched in October, with the mobileversionfor Android launching later in December and iOS shortly after.
While he did not give specifics, McShane says AvaGPT is only the first GPT-based product Ava Labs intends to launch.
Etherscan Touts ChatGPT Integration But Highlights The Chatbot's Flaws
Other blockchain companies leveraging ChatGPT's technology includeAlchemyandEtherscan. Like others using OpenAI's chatbot, Ava Labs includes a disclaimer warning users about the accuracy of AI responses, saying AvaGPT is for informational purposes only.
"Neither Ava Labs, Inc. nor anyone else in the Avalanche community, is responsible for the content found in this chat or takes any responsibility for or certifies any information provided by the chatbot as correct, worthy, or accurate," the warning reads, adding the company assumes no responsibility to moderate, monitor, or respond to anything written in the chat.
AI hallucinations, or instances when AI generates false or fake information when responding to prompts, continue to be a significant concern plaguing the rapid development and mainstream adoption of artificial intelligence.
Earlier this month, Ava Labs launchedAvalanche Arcad3, a program aimed at helping traditional game developers to explore games built using blockchain technology....
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['• Stocks rose on Friday as investors cheered good news from the Fed\'s preferred inflation gauge.\n• The PCE price index rose 0.2% last month, in line with economists\' expectations.\n• For the week, the Dow Jones Industrial Average added 0.6%, the S&P 500 gained 1%, and the Nasdaq rose 2%.\nUS stocks rose on Friday as investors priced in more good inflation news, leaving the indexes with their third-straight week of gains.\nFor the week, the Dow Jones Industrial Average added 0.6%, the S&P 500 gained 1%, and the Nasdaq rose 2%.\nThe personal consumption expenditures price index, which is the Federal Reserve\'s preferred measure of inflation, increased 0.2% month over month in June, in-line with economists\' estimates. Meanwhile, core PCE rose 4.1% year over year, slightly below the anticipated 4.2% increase.\nThe latest data is a promising sign that inflation is continuing to slow in the economy, which is revving up bets that the Fed could pause interest rate hikes in September. Markets are pricing in an 80% chance interest rates are kept at the 5.25%-5.5% range at the Fed\'s next policy meeting, per theCME FedWatch tool.\nHere\'s where US indexes stood as the market closed 4:00 p.m. on Friday:\n• S&P 500:4,582.23, up 0.99%\n• Dow Jones Industrial Average:35,459.29, up 0.5% (176.57 points)\n• Nasdaq Composite:14,316.66, up 1.9%\nHere\'s what else is going on:\n• Palantir stock could soar 54%as the company has built an unmatched "AI fortress," Wedbush said.\n• Mortgage rates could jump to levels unseen since 2000 as thebond market is on the verge of a breakdown, economist Peter Schiff said.\n• US gas prices just spikedto their second-highest level since November.\n• Soaring home prices meanfirst-time homebuyers need to be making 13% more moneyto afford a starter home.\n• Argentina should ditch the pesoin favor of a "hard dollar regime," a think tank said.\nIn commodities, bonds, and crypto:\n• Oil prices rose, withWest Texas Intermediateup 0.42% to $80.43 a barrel.Brent crude, the international benchmark, edged up 0.56% to $84.71 a barrel.\n• Goldticked higher 0.7% to $1,958.01 per ounce.\n• The10-year yieldslipped four basis points to 3.969%.\n• Bitcoinrose 0.56% to $29,315.01.\nRead the original article onBusiness Insider', 'Brendan McDermid/Reuters Stocks rose on Friday as investors cheered good news from the Fed\'s preferred inflation gauge. The PCE price index rose 0.2% last month, in line with economists\' expectations. For the week, the Dow Jones Industrial Average added 0.6%, the S&P 500 gained 1%, and the Nasdaq rose 2%. US stocks rose on Friday as investors priced in more good inflation news, leaving the indexes with their third-straight week of gains. For the week, the Dow Jones Industrial Average added 0.6%, the S&P 500 gained 1%, and the Nasdaq rose 2%. The personal consumption expenditures price index, which is the Federal Reserve\'s preferred measure of inflation, increased 0.2% month over month in June, in-line with economists\' estimates. Meanwhile, core PCE rose 4.1% year over year, slightly below the anticipated 4.2% increase. The latest data is a promising sign that inflation is continuing to slow in the economy, which is revving up bets that the Fed could pause interest rate hikes in September. Markets are pricing in an 80% chance interest rates are kept at the 5.25%-5.5% range at the Fed\'s next policy meeting, per the CME FedWatch tool . Here\'s where US indexes stood as the market closed 4:00 p.m. on Friday: S&P 500 : 4,582.23, up 0.99% Dow Jones Industrial Average : 35,459.29, up 0.5% (176.57 points) Nasdaq Composite : 14,316.66, up 1.9% Here\'s what else is going on: Palantir stock could soar 54% as the company has built an unmatched "AI fortress," Wedbush said. Mortgage rates could jump to levels unseen since 2000 as the bond market is on the verge of a breakdown , economist Peter Schiff said. US gas prices just spiked to their second-highest level since November. Soaring home prices mean first-time homebuyers need to be making 13% more money to afford a starter home. Argentina should ditch the peso in favor of a "hard dollar regime," a think tank said. In commodities, bonds, and crypto: Oil prices rose, with West Texas Intermediate up 0.42% to $80.43 a barrel. Brent crude , the international benchmark, edged up 0.56% to $84.71 a barrel. Gold ticked higher 0.7% to $1,958.01 per ounce. The 10-year yield slipped four basis points to 3.969%. Bitcoin rose 0.56% to $29,315.01. Read the original article on Business Insider', '• Bitcoin mining machines are pouring into Russia amid its war in Ukraine, per CoinDesk.\n• As the US market becomes saturated, mining-rig makers have expanded into Russia.\n• According to the report, more mining machines are heading to Russia than anywhere else in the world.\nThe bitcoin mining industry has proven to be an unexpected beneficiary of Russia\'s invasion of Ukraine and Western sanctions. Hardware manufacturers, according toCoinDesk, have been doing more business in the country, with more mining machines flowing into Russia than anywhere else in the world.\nThanks to its cheap energy and cold weather, Russia has long been a hub for bitcoin mining, and after China banned it in 2021, Russia gained even more market share — all of which has continued amid the war.\nAlthough there\'s risk for foreign firms setting up shop in Russia, the conditions there and improving mining economics remain attractive, blockchain executives said at CoinDesk\'s Consensus 2023 festival.\nNot only that, but heightened regulatory scrutiny and taxes in the US and other countries have made previous options less enticing.\nTo the crypto firmCryptocurrency Mining Group, Russia will be the only nation to substantially accelerate hashrate growth, or the computational power being delivered to the blockchain.\n"Russia had to divert its energy flow from EU in 2022 and being left with large excess capacity, bitcoin mining can be its new client," the company wrote in a report. With cheap energy being a major contributor to mining profits, the region looks poised to develop and attract more business.\nSources told CoinDesk that manufacturers Bitmain and MicroBT are active and participating in the Russian market, with Bitmain listing a Moscow office on its website. Both companies, according to the report, offer repair services for local miners in Russia.\nMeanwhile, it\'s possible that wartime sanctions have actually provided a boon to the crypto industry.\nFirst, bitcoin mining offers a different source of revenue for power producers hampered by the weakening economy. Not only that, but the sector facilitates exchanging rubles for bitcoin, which is accepted globally, unlike Russia\'s local currency.\nRead the original article onBusiness Insider', 'People walk along closed empty Red Square with the Kremlin Wall in the background in Moscow, Russia, Tuesday, June 27, 2023. Life has returned to normal in the Russian capital after the abortive coup mounted by mercenary chief Yevgeny Prigozhin. (AP Photo/Alexander Zemlianichenko) Bitcoin mining machines are pouring into Russia amid its war in Ukraine, per CoinDesk. As the US market becomes saturated, mining-rig makers have expanded into Russia. According to the report, more mining machines are heading to Russia than anywhere else in the world. The bitcoin mining industry has proven to be an unexpected beneficiary of Russia\'s invasion of Ukraine and Western sanctions. Hardware manufacturers, according to CoinDesk , have been doing more business in the country, with more mining machines flowing into Russia than anywhere else in the world. Thanks to its cheap energy and cold weather, Russia has long been a hub for bitcoin mining, and after China banned it in 2021, Russia gained even more market share \x97 all of which has continued amid the war. Although there\'s risk for foreign firms setting up shop in Russia, the conditions there and improving mining economics remain attractive, blockchain executives said at CoinDesk\'s Consensus 2023 festival. Not only that, but heightened regulatory scrutiny and taxes in the US and other countries have made previous options less enticing. To the crypto firm Cryptocurrency Mining Group , Russia will be the only nation to substantially accelerate hashrate growth, or the computational power being delivered to the blockchain. "Russia had to divert its energy flow from EU in 2022 and being left with large excess capacity, bitcoin mining can be its new client," the company wrote in a report. With cheap energy being a major contributor to mining profits, the region looks poised to develop and attract more business. Sources told CoinDesk that manufacturers Bitmain and MicroBT are active and participating in the Russian market, with Bitmain listing a Moscow office on its website. Both companies, according to the report, offer repair services for local miners in Russia. Meanwhile, it\'s possible that wartime sanctions have actually provided a boon to the crypto industry. First, bitcoin mining offers a different source of revenue for power producers hampered by the weakening economy. Not only that, but the sector facilitates exchanging rubles for bitcoin, which is accepted globally, unlike Russia\'s local currency. Read the original article on Business Insider View comments', 'The beginning of the week saw the underwhelminglaunch of Worldcoin Protocol, along with its native cryptocurrency, WLD.\nWorldcoin is co-founded by Open AI CEO Sam Altman and the premise is at once utopian and dystopian: anyone wanting some WLD has to visit an ”Orb”—these can currently be found in Berlin, Dubai, London, Mexico City, Miami, New York City, San Francisco, Seoul, and Tokyo— and get a snapshot of their eyeballs taken.\nThis biometric data is used alongside verification of their government-issued ID to confirm someone’s personhood before distributing a set number of coins to them.\nWorldcoin believes it’s building the infrastructure to bank the world’s unbanked, enabling everyone “to broadly share the coming technological prosperity ” says itswebsite. but many are skeptical, including Ethereum creator Vitalik Buterin who listed “major issues” of privacy, accessibility, centralization and security and said it could take years for the protocol to work.\nBritish privacy watchdog the Information Commissioner\'s Office (ICO) agrees, at least on privacy and security concerns andtoldDecryptthat it "[the organization notes] the launch of Worldcoin in the U.K. and will be making enquiries."\nWLD currently trades for $2.30, about 30% down from its high on launch day of $3.30, according to crypto data aggregatorCoinGecko.\nIt was thefifth consecutive weekof underwhelming price performance for market leaders Bitcoin and Ethereum.\nBitcoin (BTC) lost 1.7% and now starts the weekend at $29,291, while Ethereum (ETH) lost 0.9% and changes hands at $1,872.\nThe market leaders had a pretty static week overall and their prices haven’t moved much since Monday. This week’s news that the Fed washiking interest rates yet againdid not immediately move the leading coins.\nLast year, the U.S. central bank hiked interest rates by 75 basis points four times and finished the year with a 50 basis point hike. This year there have so far been two hikes—including Wednesday’s—of only 25 basis points each, but interest rates are now the highest they’ve been for 22 years.\nXRP’s recent growth spurt, which was prompted by asmall but significant courtroom victoryagainst the SEC a fortnight ago, appears to have settled. Ripple’s cryptocurrency—which is definitely not a security—is down 7.7% for the week and currently trades at $0.70786.\nThe only other notable price movement this week came from Toncoin (TON), which fell almost 15% this week to trade at $1.24 at the time of writing.\nOn Monday, Russian President Vladimir Putin signed into law a bill granting legal tender to adigital ruble, the issuance of which will be overseen by the country’s central bank—although officials say it could take years before the central bank digital currency (CBDC) is widely adopted.\nOn Wednesday, South Korea rolled out a newinteragency investigation unitto tackle crypto crime and take a leading role in investor protection before regulations are implemented.\nOperating from the Seoul Southern District Prosecutors’ Office, The Joint Investigation Centre for Crypto Crimes will consist of 30 investigators drawn from several government agencies and bodies, including the prosecutor\'s office, the Financial Supervisory Service, the National Tax Service, and the Korea Customs Service.\nThat day, over in the states, Democrats and Republicanslocked hornsover theFinancial Innovation and Technology (FIT) for the 21st Century Act. Rep. Maxine Waters (D-CA), the ranking Democrat on the House Financial Services committee, assailed the bill as a “wish list” for the crypto industry, and said it undermined the role of the SEC and existing legislation.\nDemocrats also accused the bill of having weak consumer protections, though this point was parried by Republicans like Committee chairman Patrick McHenry (R-NC), who argued that, while not perfect, the bill is “better at worst case” than the current regulatory regime.\nThe Committee members alsodebated a stablecoin billcalled the “Clarity for Payment Stablecoins Act of 2023.” Democrats accuse Republicans of rushing to pass the bill, and Waters said the proposed legislation lacks clarity over the reserves underpinning stablecoins that are pegged to the U.S. dollar.', 'The beginning of the week saw the underwhelminglaunch of Worldcoin Protocol, along with its native cryptocurrency, WLD.\nWorldcoin is co-founded by Open AI CEO Sam Altman and the premise is at once utopian and dystopian: anyone wanting some WLD has to visit an ”Orb”—these can currently be found in Berlin, Dubai, London, Mexico City, Miami, New York City, San Francisco, Seoul, and Tokyo— and get a snapshot of their eyeballs taken.\nThis biometric data is used alongside verification of their government-issued ID to confirm someone’s personhood before distributing a set number of coins to them.\nWorldcoin believes it’s building the infrastructure to bank the world’s unbanked, enabling everyone “to broadly share the coming technological prosperity ” says itswebsite. but many are skeptical, including Ethereum creator Vitalik Buterin who listed “major issues” of privacy, accessibility, centralization and security and said it could take years for the protocol to work.\nBritish privacy watchdog the Information Commissioner\'s Office (ICO) agrees, at least on privacy and security concerns andtoldDecryptthat it "[the organization notes] the launch of Worldcoin in the U.K. and will be making enquiries."\nWLD currently trades for $2.30, about 30% down from its high on launch day of $3.30, according to crypto data aggregatorCoinGecko.\nIt was thefifth consecutive weekof underwhelming price performance for market leaders Bitcoin and Ethereum.\nBitcoin (BTC) lost 1.7% and now starts the weekend at $29,291, while Ethereum (ETH) lost 0.9% and changes hands at $1,872.\nThe market leaders had a pretty static week overall and their prices haven’t moved much since Monday. This week’s news that the Fed washiking interest rates yet againdid not immediately move the leading coins.\nLast year, the U.S. central bank hiked interest rates by 75 basis points four times and finished the year with a 50 basis point hike. This year there have so far been two hikes—including Wednesday’s—of only 25 basis points each, but interest rates are now the highest they’ve been for 22 years.\nXRP’s recent growth spurt, which was prompted by asmall but significant courtroom victoryagainst the SEC a fortnight ago, appears to have settled. Ripple’s cryptocurrency—which is definitely not a security—is down 7.7% for the week and currently trades at $0.70786.\nThe only other notable price movement this week came from Toncoin (TON), which fell almost 15% this week to trade at $1.24 at the time of writing.\nOn Monday, Russian President Vladimir Putin signed into law a bill granting legal tender to adigital ruble, the issuance of which will be overseen by the country’s central bank—although officials say it could take years before the central bank digital currency (CBDC) is widely adopted.\nOn Wednesday, South Korea rolled out a newinteragency investigation unitto tackle crypto crime and take a leading role in investor protection before regulations are implemented.\nOperating from the Seoul Southern District Prosecutors’ Office, The Joint Investigation Centre for Crypto Crimes will consist of 30 investigators drawn from several government agencies and bodies, including the prosecutor\'s office, the Financial Supervisory Service, the National Tax Service, and the Korea Customs Service.\nThat day, over in the states, Democrats and Republicanslocked hornsover theFinancial Innovation and Technology (FIT) for the 21st Century Act. Rep. Maxine Waters (D-CA), the ranking Democrat on the House Financial Services committee, assailed the bill as a “wish list” for the crypto industry, and said it undermined the role of the SEC and existing legislation.\nDemocrats also accused the bill of having weak consumer protections, though this point was parried by Republicans like Committee chairman Patrick McHenry (R-NC), who argued that, while not perfect, the bill is “better at worst case” than the current regulatory regime.\nThe Committee members alsodebated a stablecoin billcalled the “Clarity for Payment Stablecoins Act of 2023.” Democrats accuse Republicans of rushing to pass the bill, and Waters said the proposed legislation lacks clarity over the reserves underpinning stablecoins that are pegged to the U.S. dollar.', 'Illustration by Mitchell Preffer for Decrypt. The beginning of the week saw the underwhelming launch of Worldcoin Protocol , along with its native cryptocurrency, WLD. Worldcoin is co-founded by Open AI CEO Sam Altman and the premise is at once utopian and dystopian: anyone wanting some WLD has to visit an ” Orb ”—these can currently be found in Berlin, Dubai, London, Mexico City, Miami, New York City, San Francisco, Seoul, and Tokyo— and get a snapshot of their eyeballs taken. This biometric data is used alongside verification of their government-issued ID to confirm someone’s personhood before distributing a set number of coins to them. Worldcoin believes it’s building the infrastructure to bank the world’s unbanked, enabling everyone “to broadly share the coming technological prosperity ” says its website . but many are skeptical, including Ethereum creator Vitalik Buterin who listed “ major issues ” of privacy, accessibility, centralization and security and said it could take years for the protocol to work. British privacy watchdog the Information Commissioner\'s Office (ICO) agrees, at least on privacy and security concerns and told Decrypt that it "[the organization notes] the launch of Worldcoin in the U.K. and will be making enquiries." WLD currently trades for $2.30, about 30% down from its high on launch day of $3.30, according to crypto data aggregator CoinGecko . The market leaders It was the fifth consecutive week of underwhelming price performance for market leaders Bitcoin and Ethereum. Bitcoin (BTC) lost 1.7% and now starts the weekend at $29,291, while Ethereum (ETH) lost 0.9% and changes hands at $1,872. The market leaders had a pretty static week overall and their prices haven’t moved much since Monday. This week’s news that the Fed was hiking interest rates yet again did not immediately move the leading coins. Last year, the U.S. central bank hiked interest rates by 75 basis points four times and finished the year with a 50 basis point hike. This year there have so far been two hikes—including Wednesday’s—of only 25 basis points each, but interest rates are now the highest they’ve been for 22 years. Story continues XRP’s recent growth spurt, which was prompted by a small but significant courtroom victory against the SEC a fortnight ago, appears to have settled. Ripple’s cryptocurrency—which is definitely not a security—is down 7.7% for the week and currently trades at $0.70786. The only other notable price movement this week came from Toncoin (TON), which fell almost 15% this week to trade at $1.24 at the time of writing. Crypto politics in Russia, Korea and the U.S. On Monday, Russian President Vladimir Putin signed into law a bill granting legal tender to a digital ruble , the issuance of which will be overseen by the country’s central bank—although officials say it could take years before the central bank digital currency (CBDC) is widely adopted. On Wednesday, South Korea rolled out a new interagency investigation unit to tackle crypto crime and take a leading role in investor protection before regulations are implemented. Operating from the Seoul Southern District Prosecutors’ Office, The Joint Investigation Centre for Crypto Crimes will consist of 30 investigators drawn from several government agencies and bodies, including the prosecutor\'s office, the Financial Supervisory Service, the National Tax Service, and the Korea Customs Service. That day, over in the states, Democrats and Republicans locked horns over the Financial Innovation and Technology (FIT) for the 21st Century Act . Rep. Maxine Waters (D-CA), the ranking Democrat on the House Financial Services committee, assailed the bill as a “wish list” for the crypto industry, and said it undermined the role of the SEC and existing legislation. Democrats also accused the bill of having weak consumer protections, though this point was parried by Republicans like Committee chairman Patrick McHenry (R-NC), who argued that, while not perfect, the bill is “better at worst case” than the current regulatory regime. The Committee members also debated a stablecoin bill called the “ Clarity for Payment Stablecoins Act of 2023 .” Democrats accuse Republicans of rushing to pass the bill, and Waters said the proposed legislation lacks clarity over the reserves underpinning stablecoins that are pegged to the U.S. dollar.', 'Are you worried that your parents or significant other will discover your favorite websites after you pass away? Should you be?Opera, the internet browser company behind OperaGX, has you covered with a new “deadman switch” feature: “Fake My History.” When triggered,it uses AI to swap your real browser history to a set of more wholesome sites.\nA “deadman switch,” also known as a trigger or kill switch, is a tool that requires users to fulfill steps to provide proof of life and control of the machine. A deadman switch can also take the form of information or messages that disappear after a set amount of time, as supported by privacy-centric messaging apps like Signal.\nBrave Browser Now Lets Users Sell Crypto Within the Wallet\nOnce enabled, the “Fake My History” feature, available on OperaGX compatible systems, acts as a deadman switch and will auto-delete the browsing history and replace it with a fake “but nice” version.\nUsers can test the feature by checking the box next to “Pretend I’m already dead."\nOnce the user confirms they want to hide their history, OperaGX will generate random history links to replace the originals.\n“With ‘Fake My History,’ we’re wiping the slate clean and replacing your scandalous digital shenanigans with a totally fake version of your browsing past,” OperaGX Product Director Maciej Kocemba said in astatement.\n"In case your nosy partner, parent or roommate opens Opera GX and sneaks a posthumous peek at your history, they can marvel at your bogus yet impeccable online tastes and the charmingly fictional exploits that fill your digital past," the statement promises. "Bask in the glory of a phony yet plausibly sanitized browsing history that rivals the innocent escapades of the internet’s most virtuous users."\nTech companies are becoming increasingly attuned to both the privacy and social media preferences of the recently departed. BothAppleandFacebookprovide a "Legacy Contact" feature to designate a trusted person to handle your accounts after you die or are incapacitated.\nCrypto companies are following suit. Last year, web3 startupSarcophagusraised $5.47 million towards the development of a crypto deadman switch that, if the user did not provide proof of livelihood, the content of the Sarcophagus, such as cryptocurrency, messages, and private keys, would automatically be sent to the address of their designated recipient.\nOpera says the “Fake My History” feature will also work in less extreme cases, such as the user deciding to use a different internet browser.\nOpera did not specify how the fake links are chosen.\nCrypto Wallet Prototype Discovered Inside Microsoft Edge Browser\nLaunched in 2019, OperaGX is an internet browser geared toward gamers and fans of anime. Embedded controls in OperaGX allow users to control the amount of RAM and processing power the browser uses, as well as a variety of gamer-focused features like built-in Twitch subscriptions, Discord messaging, and gaming news.\nLast year, Opera also leapt headlong into the blockchain space by adding support for decentralized applications likeMetamaskandcryptocurrencieslike Bitcoin, Solana, and Polygon through its OperaCrypto Browser.\nIn March, Opera introduced artificial intelligence to its Opera and Opera GX browsers.The “AI Prompts” feature added access to ChatGPT and ChatSonic directly into the Opera sidebar. Those with ChatGPT Plus subscriptions can use the more powerful GPT-4 and ChatGPT plugins.\nOpera has not yet responded toDecrypt’srequest for comment.', 'Are you worried that your parents or significant other will discover your favorite websites after you pass away? Should you be? Opera, the internet browser company behind OperaGX, has you covered with a new \x93deadman switch\x94 feature: \x93 Fake My History . \x94 When triggered, it uses AI to swap your real browser history to a set of more wholesome sites. A \x93deadman switch,\x94 also known as a trigger or kill switch, is a tool that requires users to fulfill steps to provide proof of life and control of the machine. A deadman switch can also take the form of information or messages that disappear after a set amount of time, as supported by privacy-centric messaging apps like Signal. Brave Browser Now Lets Users Sell Crypto Within the Wallet Opera GX Fake My History Once enabled, the \x93Fake My History\x94 feature, available on OperaGX compatible systems, acts as a deadman switch and will auto-delete the browsing history and replace it with a fake \x93but nice\x94 version. Users can test the feature by checking the box next to \x93Pretend I\x92m already dead." Opera GX Pretend I\'m Dead Once the user confirms they want to hide their history, OperaGX will generate random history links to replace the originals. Opera GX Fake History \x93With \x91Fake My History,\x92 we\x92re wiping the slate clean and replacing your scandalous digital shenanigans with a totally fake version of your browsing past,\x94 OperaGX Product Director Maciej Kocemba said in a statement . "In case your nosy partner, parent or roommate opens Opera GX and sneaks a posthumous peek at your history, they can marvel at your bogus yet impeccable online tastes and the charmingly fictional exploits that fill your digital past," the statement promises. "Bask in the glory of a phony yet plausibly sanitized browsing history that rivals the innocent escapades of the internet\x92s most virtuous users." Tech companies are becoming increasingly attuned to both the privacy and social media preferences of the recently departed. Both Apple and Facebook provide a "Legacy Contact" feature to designate a trusted person to handle your accounts after you die or are incapacitated. Story continues Crypto companies are following suit. Last year, web3 startup Sarcophagus raised $5.47 million towards the development of a crypto deadman switch that, if the user did not provide proof of livelihood, the content of the Sarcophagus, such as cryptocurrency, messages, and private keys, would automatically be sent to the address of their designated recipient. Opera says the \x93Fake My History\x94 feature will also work in less extreme cases, such as the user deciding to use a different internet browser. Opera did not specify how the fake links are chosen. Crypto Wallet Prototype Discovered Inside Microsoft Edge Browser Launched in 2019, OperaGX is an internet browser geared toward gamers and fans of anime. Embedded controls in OperaGX allow users to control the amount of RAM and processing power the browser uses, as well as a variety of gamer-focused features like built-in Twitch subscriptions, Discord messaging, and gaming news. Last year, Opera also leapt headlong into the blockchain space by adding support for decentralized applications like Metamask and cryptocurrencies like Bitcoin, Solana, and Polygon through its Opera Crypto Browser . In March, Opera introduced artificial intelligence to its Opera and Opera GX browsers. The \x93 AI Prompts \x94 feature added access to ChatGPT and ChatSonic directly into the Opera sidebar. Those with ChatGPT Plus subscriptions can use the more powerful GPT-4 and ChatGPT plugins. Opera has not yet responded to Decrypt\x92s request for comment.', 'Make Bitcoin better for activists and claim part of a 20 Bitcoin reward—worth over half a million dollars—offered by the Human Rights Foundation (HRF). The foundation officially launched a bug bounty challenge to support open-source development on the Bitcoin protocol, centered around ten improvements to the Bitcoin user experience (UX) and mainly aimed at mobile wallets. “These bounties come from conversations with global activists,” Alex Gladstein , Chief Strategy Officer for HRF told Decrypt. “They are features that many would like to see come to Bitcoin.” Each bounty is worth 2 BTC (nearly $60,000 according to CoinGecko), and is aimed at a specific problem that Bitcoin faces today, with six aimed at improving mobile wallets . One bug bounty challenge looks at open-source design components for Bitcoin projects, which currently rely heavily on proprietary design software called Figma. The goal is to provide developers free access to a Bitcoin User Interface (UI) guide. Another challenge looks to help expand and bolster development of Nostr , an open source and censorship resistant social network backed by Jack Dorsey that has garnered substantial notoriety in the past few months–especially among the more technical crypto crowd. The bounties aimed at Bitcoin wallets include the ability to generate and memorize seed phrases when crossing borders–a common practice the HRF wants to support around the world. The 20 Bitcoin that are financially incentivizing these bounties come from the HRF’s Bitcoin Development Fund , a branch of the Foundation that looks to help expand financial freedom for dissidents and human rights activists everywhere. “HRF views Bitcoin and financial freedom as one aspect of the human rights struggle,” Gladstein told Decrypt. “The fact is human rights defenders are persistently attacked through their bank accounts... Bitcoin allows them to keep going.” At the time of writing, none of the ten bounties have been claimed, although they will run through this year and up to the end of 2024. “The bounties are a bit of an experiment,” Gladstein concluded. “if they go well, maybe other organizations can do the same.”', 'Make Bitcoin better for activists and claim part of a 20 Bitcoin reward—worth over half a million dollars—offered by the Human Rights Foundation (HRF). The foundation officially launched a bug bounty challenge to support open-source development on the Bitcoin protocol, centered around ten improvements to the Bitcoin user experience (UX) and mainly aimed at mobile wallets. “These bounties come from conversations with global activists,” Alex Gladstein , Chief Strategy Officer for HRF told Decrypt. “They are features that many would like to see come to Bitcoin.” Each bounty is worth 2 BTC (nearly $60,000 according to CoinGecko), and is aimed at a specific problem that Bitcoin faces today, with six aimed at improving mobile wallets . One bug bounty challenge looks at open-source design components for Bitcoin projects, which currently rely heavily on proprietary design software called Figma. The goal is to provide developers free access to a Bitcoin User Interface (UI) guide. Another challenge looks to help expand and bolster development of Nostr , an open source and censorship resistant social network backed by Jack Dorsey that has garnered substantial notoriety in the past few months–especially among the more technical crypto crowd. The bounties aimed at Bitcoin wallets include the ability to generate and memorize seed phrases when crossing borders–a common practice the HRF wants to support around the world. The 20 Bitcoin that are financially incentivizing these bounties come from the HRF’s Bitcoin Development Fund , a branch of the Foundation that looks to help expand financial freedom for dissidents and human rights activists everywhere. “HRF views Bitcoin and financial freedom as one aspect of the human rights struggle,” Gladstein told Decrypt. “The fact is human rights defenders are persistently attacked through their bank accounts... Bitcoin allows them to keep going.” At the time of writing, none of the ten bounties have been claimed, although they will run through this year and up to the end of 2024. “The bounties are a bit of an experiment,” Gladstein concluded. “if they go well, maybe other organizations can do the same.”', 'Make Bitcoin better for activists and claim part of a 20 Bitcoin reward—worth over half a million dollars—offered by the Human Rights Foundation (HRF). The foundation officially launched a bug bounty challenge to support open-source development on the Bitcoin protocol, centered around ten improvements to the Bitcoin user experience (UX) and mainly aimed at mobile wallets. “These bounties come from conversations with global activists,” Alex Gladstein , Chief Strategy Officer for HRF told Decrypt. “They are features that many would like to see come to Bitcoin.” Each bounty is worth 2 BTC (nearly $60,000 according to CoinGecko), and is aimed at a specific problem that Bitcoin faces today, with six aimed at improving mobile wallets . One bug bounty challenge looks at open-source design components for Bitcoin projects, which currently rely heavily on proprietary design software called Figma. The goal is to provide developers free access to a Bitcoin User Interface (UI) guide. Another challenge looks to help expand and bolster development of Nostr , an open source and censorship resistant social network backed by Jack Dorsey that has garnered substantial notoriety in the past few months–especially among the more technical crypto crowd. The bounties aimed at Bitcoin wallets include the ability to generate and memorize seed phrases when crossing borders–a common practice the HRF wants to support around the world. The 20 Bitcoin that are financially incentivizing these bounties come from the HRF’s Bitcoin Development Fund , a branch of the Foundation that looks to help expand financial freedom for dissidents and human rights activists everywhere. “HRF views Bitcoin and financial freedom as one aspect of the human rights struggle,” Gladstein told Decrypt. “The fact is human rights defenders are persistently attacked through their bank accounts... Bitcoin allows them to keep going.” At the time of writing, none of the ten bounties have been claimed, although they will run through this year and up to the end of 2024. “The bounties are a bit of an experiment,” Gladstein concluded. “if they go well, maybe other organizations can do the same.”', 'F2Hash DIMOFONTOS, CYPRUS, July 29, 2023 (GLOBE NEWSWIRE) -- F2Hash, a leading cloud mining platform, is thrilled to announce the launch of their new flash mining contracts, providing users with an opportunity to supercharge their crypto mining journey in short periods. They also provide a free testing plan for newbies to get their feet wet in crypto mining without any upfront investment. Established in 2021, F2Hash commenced its operations early in 2022, quickly gaining a reputation as a licensed and regulated company based in Nicosia, Cyprus. The platform offers state-of-the-art crypto mining services through high hash-power contracts, ensuring profitability for its users. With a strong commitment to sustainability, F2Hash relies heavily on renewable energies, such as solar and wind power, to operate its mining facilities located in Brazil. F2Hash sets itself apart from other mining platforms by leveraging the power of thousands of Bitcoin mining devices, including ASICs like Antminer and AvalonMiners, to provide users with high hash-power contracts that yield substantial profits. The company\'s consistent fulfilment of user payments over an extended period underscores its reliability and dedication to customer satisfaction. Key Features of F2Hash: Free Mining Contract: F2Hash is offering a unique opportunity for users to start mining without any initial investment, making it accessible to a broader audience. $5 Sign-Up Bonus: Upon registration, new users receive a $5 bonus, giving them a head start in their mining journey. High Profitability: With an average profitability rate of over 300%, F2Hash ensures that users can maximize their earnings in the crypto mining space. Diverse Coin Options: F2Hash supports multiple cryptocurrencies for depositing and withdrawing, including BTC, LTC, ETH, USDT, and BCH, providing users with flexibility in managing their digital assets. Regular Payouts: Users can enjoy steady and regular payouts every 24 hours, further enhancing the profitability of their mining contracts. Low Withdrawal Threshold: F2Hash maintains a low withdrawal threshold, and all withdrawals are processed immediately, ensuring convenient access to earned funds. Customer Support: F2Hash boasts an always-online customer support team, ready to assist users with any inquiries or concerns they may have. Story continues "F2Hash is committed to democratizing the world of crypto mining, and our free mining contract is a testament to that commitment," said Nikolai Terskikh, Media Spokerperson at F2Hash. "With our renewable energy-powered facilities and high hash-power contracts, we empower users of all backgrounds to participate in the exciting world of crypto mining without financial barriers." As the top crypto cloud mining provider, F2Hash offers cost-effective, profitable, and stable crypto mining packages, making it the preferred choice for crypto enthusiasts and investors alike. To take advantage of F2Hash\'s free mining contract and explore the vast opportunities in crypto mining, interested individuals can sign up at https://f2hash.com About F2Hash: F2Hash is a reputable cloud mining platform based in Nicosia, Cyprus, offering high hash-power contracts and top-notch crypto mining services. Founded in 2021, the platform operates mining facilities in Brazil, powered by renewable energies. With a user-centric approach and a commitment to sustainability, F2Hash aims to make crypto mining accessible and profitable for all. # # # For media inquiries, please contact: Contact Person: Nikolai Terskikh Organization: F2Hash Website: https://f2hash.com Email: [email protected] City: Dimofontos State: Nicosia Country: Cyprus CONTACT: Nikolai Terskikh info at f2hash.com', 'F2Hash DIMOFONTOS, CYPRUS, July 29, 2023 (GLOBE NEWSWIRE) -- F2Hash, a leading cloud mining platform, is thrilled to announce the launch of their new flash mining contracts, providing users with an opportunity to supercharge their crypto mining journey in short periods. They also provide a free testing plan for newbies to get their feet wet in crypto mining without any upfront investment. Established in 2021, F2Hash commenced its operations early in 2022, quickly gaining a reputation as a licensed and regulated company based in Nicosia, Cyprus. The platform offers state-of-the-art crypto mining services through high hash-power contracts, ensuring profitability for its users. With a strong commitment to sustainability, F2Hash relies heavily on renewable energies, such as solar and wind power, to operate its mining facilities located in Brazil. F2Hash sets itself apart from other mining platforms by leveraging the power of thousands of Bitcoin mining devices, including ASICs like Antminer and AvalonMiners, to provide users with high hash-power contracts that yield substantial profits. The company\'s consistent fulfilment of user payments over an extended period underscores its reliability and dedication to customer satisfaction. Key Features of F2Hash: Free Mining Contract: F2Hash is offering a unique opportunity for users to start mining without any initial investment, making it accessible to a broader audience. $5 Sign-Up Bonus: Upon registration, new users receive a $5 bonus, giving them a head start in their mining journey. High Profitability: With an average profitability rate of over 300%, F2Hash ensures that users can maximize their earnings in the crypto mining space. Diverse Coin Options: F2Hash supports multiple cryptocurrencies for depositing and withdrawing, including BTC, LTC, ETH, USDT, and BCH, providing users with flexibility in managing their digital assets. Regular Payouts: Users can enjoy steady and regular payouts every 24 hours, further enhancing the profitability of their mining contracts. Low Withdrawal Threshold: F2Hash maintains a low withdrawal threshold, and all withdrawals are processed immediately, ensuring convenient access to earned funds. Customer Support: F2Hash boasts an always-online customer support team, ready to assist users with any inquiries or concerns they may have. Story continues "F2Hash is committed to democratizing the world of crypto mining, and our free mining contract is a testament to that commitment," said Nikolai Terskikh, Media Spokerperson at F2Hash. "With our renewable energy-powered facilities and high hash-power contracts, we empower users of all backgrounds to participate in the exciting world of crypto mining without financial barriers." As the top crypto cloud mining provider, F2Hash offers cost-effective, profitable, and stable crypto mining packages, making it the preferred choice for crypto enthusiasts and investors alike. To take advantage of F2Hash\'s free mining contract and explore the vast opportunities in crypto mining, interested individuals can sign up at https://f2hash.com About F2Hash: F2Hash is a reputable cloud mining platform based in Nicosia, Cyprus, offering high hash-power contracts and top-notch crypto mining services. Founded in 2021, the platform operates mining facilities in Brazil, powered by renewable energies. With a user-centric approach and a commitment to sustainability, F2Hash aims to make crypto mining accessible and profitable for all. # # # For media inquiries, please contact: Contact Person: Nikolai Terskikh Organization: F2Hash Website: https://f2hash.com Email: [email protected] City: Dimofontos State: Nicosia Country: Cyprus CONTACT: Nikolai Terskikh info at f2hash.com']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-07-29
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $570,749,626,600
- Hash Rate: 343365594.25571066
- Transaction Count: 423119.0
- Unique Addresses: 694496.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.52
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: (Adds comment, data from ADP, unemployment claims, ISM, fresh prices,) By Herbert Lash NEW YORK, July 6 (Reuters) - The dollar rebounded on Thursday after private payrolls and unemployment benefits reports indicated the U.S. labor market remains strong, raising the likelihood the Federal Reserve will raise interest rates later this month. The number of Americans filing new claims for unemployment benefits increased moderately last week, the Labor Department said, while private payrolls surged last month in the biggest increase since February 2022, an ADP National Employment report showed. A survey by the Institute for Supply Management (ISM) showed the U.S. services sector grew faster than expected in June as new orders picked up, adding to data indicating a resilient economy in the face of tighter monetary policy. While ISM showed a measure of prices paid by businesses fell to more than a three-year low, a sign inflation would continue to cool, Dallas Fed President Lorie Logan said she was very concerned "whether inflation will return to target in a sustainable and timely way." The dollar index, measuring the U.S. currency against six others, including the euro and Japan's yen, rose 0.18% to 103.51. The major central banks for the most part are fine-tuning monetary policy, and it's unclear when they will act as they alternate between hiking and pausing interest rates, said Brad Bechtel, global head of FX at Jefferies. "Given all these central banks are more or less in the same place in some way, shape or form, the dollar's going have a hard time" moving too much one way or the other, he said. "What the dollar has going forward is typically in a cycle where global growth is slowing like we're in now, the dollar outperforms." Markets are pricing in an 94.9% chance that the Fed will raise rates by 25 basis points at its policy meeting later this month, according to the CME Group's FedWatch Tool. The Japanese yen strengthened 0.03% versus the greenback at 144.58 as concerns about the global growth outlook, resulting from the aggressive monetary tightening by major central banks, weighed on risk appetite. The Japanese currency is traditionally considered as a safe haven asset. ONE DIMENSIONAL The pound hit a two-week high against both the euro and dollar as financial markets bet that the Bank of England will raise rates to 6.5% early next year, pushing the yield on the two-year UK government bond to its highest since June 2008. "The FX market is taking more of a 'one-dimensional approach' to trading the British disease," said Stephen Gallo, global FX strategist at BMO Capital Markets. "Instead of selling GBP in anticipation of an economic slowdown, it is buying GBP on the basis of interest rate differentials," Gallo said. The Chinese yuan last traded at 7.27177 per dollar in the offshore market, after having fallen about 0.4% the previous session. The central bank set a stronger-than-expected midpoint fixing for the fourth straight day this week, which traders believe is an attempt to prevent the yuan from weakening too fast and too far. Bitcoin hit a 13-month high of $31,500, continuing to find support due to recent plans by fund managers to launch a U.S.-listed spot bitcoin exchange-traded fund (ETF). Currency bid prices at 10:42 a.m. (1442 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 103.5100 103.3400 +0.18% 0.019% +103.5700 +102.9100 Euro/Dollar $1.0838 $1.0853 -0.13% +1.15% +$1.0901 +$1.0834 Dollar/Yen 144.5950 144.6650 -0.04% +10.29% +144.6500 +143.5600 Euro/Yen 156.71 157.00 -0.18% +11.70% +157.0600 +155.8500 Dollar/Swiss 0.8992 0.8988 +0.06% -2.74% +0.8997 +0.8951 Sterling/Dollar $1.2678 $1.2703 -0.20% +4.83% +$1.2780 +$1.2674 Dollar/Canadian 1.3369 1.3285 +0.63% -1.33% +1.3370 +1.3276 Aussie/Dollar $0.6603 $0.6654 -0.78% -3.15% +$0.6688 +$0.6599 Euro/Swiss 0.9744 0.9755 -0.11% -1.53% +0.9766 +0.9738 Euro/Sterling 0.8547 0.8542 +0.06% -3.36% +0.8553 +0.8521 NZ $0.6134 $0.6179 -0.74% -3.41% +$0.6219 +$0.6133 Dollar/Dollar Dollar/Norway 10.8200 10.6820 +1.23% +10.18% +10.8240 +10.6520 Euro/Norway 11.7288 11.5894 +1.20% +11.77% +11.7333 +11.5690 Dollar/Sweden 10.9835 10.9373 +0.30% +5.53% +10.9906 +10.9223 Euro/Sweden 11.8995 11.8636 +0.30% +6.73% +11.9409 +11.8712 (Reporting by Herbert Lash; additional reporting by Samuel Indyk in London and Rae Wee in Singapore; Editing by David Holmes and Mark Potter)...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Illustration by Mitchell Preffer for Decrypt It was another underwhelming week for crypto markets as they appeared to cautiously price in the effects of yet another interest rate hike by the Federal Reserve on Wednesday. While this change was only 25 basis points, U.S. interest rates are now the highest they’ve been in 22 years. Over on Twitter—or should we call it X? Let’s stick with Twitter for now—many voices reacted loudly to Elon Musk’s rebrand, the first step towards his envisioned “ everything app .” It would take a whole separate article to capture the sprawling outcry, but seeing as both Musk and Twitter hold a place in the hearts of crypto fans, it’s worth highlighting that—according to a tweet by researcher Asuna Gilfoyle—Twitter may be tapping crypto for payments. Musk’s long affiliation with Dogecoin and Bitcoin make them obvious choices for the native currency. It appears that Twitter Payments LLC (a key entity in the potential "Twitter Coin" system) has obtained licenses from several states to handle crypto payments. cc/ @TitterDaily @nima_owji & @EvaFoxU pic.twitter.com/6666sR2ARR — Asuna Gilfoyle ⚡️ (@asunapg) July 24, 2023 Also of note, Twitter literally hijacked the original account holder of the @X handle after extensive public speculation as to the handle\'s potential worth to the company. It’s worth noting here that Twitter prohibits the sale of accounts and reached out offering the former account holder some merchandise and a meeting with the bosses. NEW: former owner of @x handle tells me he didn’t sell the account: “Twitter just took it essentially”. They offered some merchandise and a meeting https://t.co/gVMq4YbHKr pic.twitter.com/SM2MpMxXeg — James Titcomb (@jamestitcomb) July 26, 2023 If you’re one of the many who don’t like the aesthetics of the rebrand, you can do something about it , thanks to software engineer @0xCygaar . Story continues I\'m not a huge fan of the new X logo so I wrote a chrome extension that reverts the X back to the bird logo. You can see in the demo that the bird is restored in both the app as well as the tab icon. Long live the bird. pic.twitter.com/dmkNygEhNO — cygaar (@0xCygaar) July 25, 2023 Digital artist Beeple, who currently holds the record for the biggest NFT sale ever made after netting $69.3 million for his collection EVERYDAYS: The First 5,000 Days , was seen soliciting advice on Monday for his first ever purchase of an NFT profile pic. though I have commented on this space many times through the everydays, I have never actually purchased a single pfp until now… in the market for a punk, any pro tips??? 👀 pic.twitter.com/ZexvIsfQox — beeple (@beeple) July 24, 2023 On Tuesday, Chinese blockchain journalist Colin Wu reported mass layoffs (30%) at the Seychelles-headquartered KuCoin exchange. KuCoin responded that it is a normal performance appraisal. KuCoin is actively embracing compliance and focusing on core business development. — Wu Blockchain (@WuBlockchain) July 25, 2023 KuCoin CEO Johnny Lyu dismissed the news as unfounded rumors and reiterated the company line about the firings being part of a regular performance appraisal. 3/ The crypto world changes fast. To stay on top, we regularly evaluate our org structure based on employee performance and company development. So it is not layoffs, and it is all about making the organization more dynamic and competitive. — Johnny_KuCoin (@lyu_johnny) July 25, 2023 That day, crypto law expert @MetaLawMan wrote a thread outlining the four options he believes are left to the SEC in its ongoing lawsuit against Ripple. SEC v. @Ripple update. There\'s a lot of debate about what the SEC will do next in the Ripple case. I believe there are at least 4 options under consideration... — MetaLawMan (@MetaLawMan) July 25, 2023 Tweeter @SpreekAway shared news of a major exploit affecting lending protocol EraLend. Looks like @Era_Lend exploited on zkysnc for $1.7m USDC pic.twitter.com/kyErGYbL3v — Spreek (@spreekaway) July 25, 2023 OpenAI CEO Sam Altman tweeted a video of an around-the-block queue of people waiting to get their eyeballs scanned so they can receive free crypto from his side project Worldcoin. Worldcoin had a slightly underwhelming and controversial launch week, including a short-lived bump in the value of its native token WLD. It didn\'t help that Ethereum creator Vitalik Buterin said the project has “ major issues ” of privacy, accessibility, centralization and security and said that it could take years for the protocol to work satisfactorily. day 3 of @worldcoin launch, crazy lines around the world. one person getting verified every 8 seconds now. pic.twitter.com/vHRu1sWMT3 — Sam Altman (@sama) July 26, 2023 A grisly and deeply unfortunate crypto-related murder story made the rounds on Thursday. BREAKING: Missing millionaire crypto influencer Fernando Pérez Algaba found dismembered in suitcase. pic.twitter.com/Rf0I0QNBm5 — Daily Loud (@DailyLoud) July 27, 2023 Longtime Yuga Labs hater @PopPunkOnChain said he received calls from people who took one of his troll tweets seriously. See how misinformation sticks? I\'m fucking sobbing right now. I just got a call from a law firm based in San Diego. The guy said they\'re looking to talk to former employees of Yuga Labs and they saw my tweet announcing that I had left Yuga Labs recently. Milady world order Log in and spread misinformation — Harrison (@PopPunkOnChain) July 26, 2023 Caution: under no circumstances should you download one particular Korean real-time strategy classic on Steam. kingdom under fire, a korean rts on steam that originally released in 2001, has apparently been hijacked by a crypto scam company that says the blockchain acts as the master server lol pic.twitter.com/G1YNkeGyt1 — Tegiminis (@tegiminis) July 28, 2023 Jason Lowery, the author of an academic thesis about the military-strategic significance of Bitcoin, was seen doing some self promotion on Thursday. Aaand it sold out! For those asking what\'s been going on w/me, I was ordered to take SOFTWAR down & asked to stop talking about the subject publicly. Doesn\'t appear on MIT\'s library either. Can\'t talk details but things are good & I\'m working hard behind the scenes. Appreciate the kind words. — Jason Lowery (@JasonPLowery) July 27, 2023', "It was another underwhelming week for crypto markets as they appeared to cautiously price in the effects of yet another interest rate hike by the Federal Reserve on Wednesday. While this change was only 25 basis points, U.S. interest rates are now the highest they’ve been in 22 years.\nOver on Twitter—or should we call it X? Let’s stick with Twitter for now—many voices reacted loudly to Elon Musk’s rebrand, the first step towards his envisioned “everything app.”\nIt would take a whole separate article to capture the sprawling outcry, but seeing as both Musk and Twitter hold a place in the hearts of crypto fans, it’s worth highlighting that—according to a tweet by researcher Asuna Gilfoyle—Twitter may be tapping crypto for payments. Musk’s long affiliation with Dogecoin and Bitcoin make them obvious choices for the native currency.\nAlso of note, Twitter literally hijacked the original account holder of the @X handle after extensive public speculation as to the handle's potential worth to the company. It’s worth noting here that Twitter prohibits the sale of accounts and reached out offering the former account holdersome merchandise and a meetingwith the bosses.\nIf you’re one of the many who don’t like the aesthetics of the rebrand, you cando something about it, thanks to software engineer@0xCygaar.\nDigital artist Beeple, who currently holds the record for the biggest NFT sale ever made after netting$69.3 millionfor his collectionEVERYDAYS: The First 5,000 Days, was seen soliciting advice on Monday for his first ever purchase of an NFT profile pic.\nOn Tuesday, Chinese blockchain journalist Colin Wu reported mass layoffs (30%) at the Seychelles-headquartered KuCoin exchange.\nKuCoin CEO Johnny Lyu dismissed the news as unfounded rumors and reiterated the company line about the firings being part of a regular performance appraisal.\nThat day, crypto law expert@MetaLawManwrote a thread outlining the four options he believes are left to the SEC in its ongoing lawsuit against Ripple.\nTweeter@SpreekAwayshared news of a major exploit affecting lending protocol EraLend.\nOpenAI CEO Sam Altman tweeted a video of an around-the-block queue of people waiting to get their eyeballs scanned so they can receive free crypto from his side project Worldcoin. Worldcoin had a slightly underwhelming and controversial launch week, including ashort-lived bumpin the value of its native token WLD. It didn't help that Ethereum creator Vitalik Buterin said the project has “major issues” of privacy, accessibility, centralization and security and said that it could take years for the protocol to work satisfactorily.\nA grisly and deeply unfortunate crypto-related murder story made the rounds on Thursday.\nLongtime Yuga Labshater@PopPunkOnChainsaid he received calls from people who tookone of his troll tweetsseriously. See how misinformation sticks?\nCaution: under no circumstances should you download one particular Korean real-time strategy classic on Steam.\nJason Lowery, the author ofan academic thesisabout the military-strategic significance of Bitcoin, was seen doing some self promotion on Thursday. Aaand it sold out!"]...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-07-30
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $570,888,669,225
- Hash Rate: 437010756.32545
- Transaction Count: 645854.0
- Unique Addresses: 800500.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.52
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Texas is demonstrating its support for the bitcoin mining industry with the passage of two bills in the latest legislative session, while another bill that could have impacted miners was halted at the committee stage. The bills, SB 1929 and HB 591, aim to provide support and incentives for miners. SB 1929 requires miners with energy capacity over 75 megawatts to register with the Public Utilities Commission of Texas and share their data with the Electricity Reliability Council of Texas. HB 591, on the other hand, introduces tax exemptions for companies that utilize otherwise wasted gas, including data centers.
However, a bill known as SB 1751, which could have limited the industry's participation in cost-saving demand-response programs, was stopped at the committee stage. Demand-response programs offer power credits to miners for reducing their operations during times of high energy demand. While the bill was not prioritized during the session and can be reintroduced in the future, industry advocates believe that increasing communication with the relevant authorities will improve transparency and publicly available data on mining, benefiting the industry as a whole.
While Texas demonstrates its pro-mining stance, other states are also exploring their approaches to the industry. Arkansas and Montana have passed legislation to protect mining activities, while similar bills in Missouri and Mississippi did not advance. In contrast, New York has imposed a moratorium on new fossil fuel-based bitcoin mines, and Oregon is considering legislation to reduce greenhouse gas emissions from data centers, including miners. Meanwhile, the proposed 30% tax on bitcoin mining put forth by the Biden administrationappears to have stalled, as it did not make it into the recent bill on the debt ceiling....
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Good morning. Here’s what’s happening: Prices: As the trading week begins in Asia, Bitcoin and Ether are experiencing minor declines. Insights: An exploit of stablecoin exchange Curve could threaten more than $100 million in crypto. PLUS: Russia\'s share of bitcoin mining rose when China banned the industry; now mining is booming in Russia. Prices Bitcoin Hovers Above 29K as Curve Exploit Works Its Way Through Market As Asia opens its trading week, bitcoin is up 0.3% to $29,415, and ether is down 0.6% to $1,869. So far, the market seems to have digested an exploit in the Curve stablecoin exchange without further contagion. As CoinDesk previously reported, a "re-entrancy" bug in Vyper, the programming language used in parts of Curve, put over $100 million worth of cryptocurrency at risk. Blockchain auditing firm BlockSec preliminarily estimated the total losses to be above $42 million. Elsewhere in the market, the Chia Network’s Gene Hoffman said in a recent interview with CoinDesk that despite a decoupling between stocks and tech stocks this year, Bitcoin and tech still have the potential for correlation due to ongoing mass adoption. “The coin usually tends to trade as if it were a tech stock. The tech earnings around are mixed to positive,” he said. “There\'s no real force to break things one side or the other." Hoffman also said he expects the market to move sideways in August due to the global vacation season but foresees a gentle move upward in all markets come September due to job support, an opening IPO market, and potential rate decreases after a final hike in the US. Finally, last week, Markus Thielen, Matrixport’s head of research and strategy, said in an interview with CoinDesk that traders should switch from bitcoin to bullish call options due to low volatility, enabling them to lock in current gains while potentially benefiting from future upside rallies. "This allows locking in the year-to-date gains for bitcoin, while the call option exposure allows participating in any upside rally," Thielen said. Story continues Biggest Gainers Asset Ticker Returns DACS Sector Gala GALA +12.5% Entertainment XRP XRP +7.5% Currency Avalanche AVAX +3.4% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Stellar XLM −19.5% Smart Contract Platform Dogecoin DOGE −14.8% Currency Chainlink LINK −12.3% Computing Insights A Curve Breach Could Imperil More than $100M in Crypto Curve, a stablecoin exchange at the heart of decentralized finance (DeFi) on Ethereum, has been the victim of an exploit, according to a tweet from the project . Upwards of $100 million worth of cryptocurrency are at risk due to a “re-entrancy” bug in Vyper, a programming language used to power parts of the Curve system. Several stablecoin pools on the platform — used for pricing and liquidity on a number of different DeFi services — have been drained by hackers so far. Other projects that use the Vyper programming language could share the same vulnerability. As Asia opened its trading day, it was unclear how much had been drained from Curve as a result of the attack. BlockSec, a blockchain auditing firm, estimated the total losses above $42 million in a preliminary analysis posted to Twitter. Curve\'s CRV token was recently trading at 62 cents, off more than 16% over the past 24 hours. It changed hands as low as 59 cents, a more than 19% decline late Sunday after the breach. Russia\'s Bitcoin Mining Boom The bitcoin mining industry in Russia is booming, and hardware manufacturers Bitmain and MicroBT are positioning themselves to reap the benefits. More machines are flowing into Russia than anywhere else in the world, Ethan Vera, chief operating officer at global mining services firm Luxor Technologies, said at CoinDesk’s Consensus 2023 festival held last month in Austin, Texas. Russia has always been a powerhouse in Bitcoin hash rate – a measure of computational power being contributed to the blockchain – thanks to the availability of cheap energy and its cold climate. Russia’s share of world mining gained as China banned the industry in 2021 , making it the second- or third-largest in the world, according to one of its biggest mining firms . Important events. 9 a.m. HKT/SGT(1 a.m. UTC): China Non-manufacturing PMI (June) 1 p.m. HKT/SGT(5 a.m. UTC): Japan construction orders (June/YoY) 1 p.m. HKT/SGT(5 a.m. UTC): Japan Consumer Confidence (July) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Worldcoin Tokenomics in Focus; Palau Begins Stablecoin Trial on XRP Ledger Ripple VP of central bank engagements and CBDCs James Wallis explained why the country of Palau will be leveraging Ripple\'s CBDC platform. Bitwise Asset Management president Teddy Fusaro shared his crypto markets analysis as the highly anticipated project co-founded by OpenAI\'s Sam Altman launched its WLD token earlier this week. And, Eco App CEO Andy Bromberg discussed crypto wallet Beam going live. Headlines Bitcoin Won’t Be Stuck Below $30K for Long, Crypto Options Traders Bet: BTC losing the significant price level after a month is likely just a short-term deviation based on derivatives trading data, SynFutures CEO said. Sam Bankman-Fried Maybe Hasn’t Escaped Campaign Finance Charges: The Department of Justice pulled one charge, but it\'s still pursuing seven for trial this October – and another trial on different charges next March. Is the Worry Over Worldcoin Warranted?: No project since Facebook\'s Libra has generated such hue and cry from within the crypto community. Is it right to be concerned by Sam Altman\'s iris-scanning uber-ambitious UBI project? CORRECTION (July 30, 2023, 2:03): Corrects headline to correlation from decoupling.', 'Bitcoin and Ether prices dropped on Monday morning in Asia, but remained above the support levels of US$29,000 and US$1,800 respectively. The drop coincided with news of a hack at DeFi exchange Curve Finance. Most other top 10 non-stablecoin cryptocurrencies traded lower, with Tron’s TRX token leading the losers. The Forkast 500 NFT index dropped while U.S. equity futures edged higher. Analysts suggest that improved economic resilience and easing inflationary pressures will lead the Federal Reserve to pause interest rate hikes after its decision to raise the rate by 25 basis points in July.\nBitcoin dipped 0.36% in the last 24 hours to US$29,261 as of 07:45 a.m. in Hong Kong and lost 2.65% for the past seven days, according todatafrom CoinMarketCap. The world’s largest cryptocurrency reached a low of US$29,059 on Sunday, but remained above the support level of US$29,000.\nOn Sunday, decentralized stablecoin exchange Curve Finance reported a security flaw on the platform. According todatafrom smart contract auditing firm BlockSec, hackers drained an estimated US$41 million worth of cryptocurrencies from the platform as a result of the malfunction.\nCurve Finance is the third largest decentralized financial exchange (DEX) by 7-day trading volume, according to DeFi data trackerDefiLlama.\nCRV, the native token of Curve DAO and the Curve Finance platform, dropped over 13% in the past 24 hours. Its trading volume surged almost 15 times to over US$228 million, indicating panic among Curve Finance users.\n“Surprisingly, CRV DAO perpetual futures are still trading at a small premium, indicating that traders are more focused on moving positions away from the DEX (regarding total value locked) rather than shorting the token,” said Markus Thielen, Head of Crypto Research & Strategy at digital asset service platform Matrixport, in an emailed comment.\nEther fell 1.06% to US$1,862, holding a weekly loss of 1.38%.\n“The market has been trading soft and sideways since the surge around theXRP rulingearlier this month,”saidSingapore-based crypto asset trading firm QCP Capital in a Sunday market note.\n“However, the market is expecting a spike in volatility and possibly a large price increase in BTC towards the end of the year and into next year with theBlackrock spot ETF rulingas well as the Bitcoin Halving,” said QCP Capital.\nMost other top 10 non-stablecoin cryptocurrencies also logged losses, with Tron’s TRX token leading the losers. It fell 3.97% to US$0.08008, down 3.89% for the week.\nDespite the price drop, average daily transactions on the Tron network reached over 9 million in the second quarter of 2023. That daily volume has contributed to an annual rise of 91.24%, according to areportreleased by Coin98 Analytics on July 19.\nCardano’s ADA token was the only top 10 crypto logging gains. It edged up 0.39% to US$0.3141, but was still trading 0.98% lower for the week.\nMeanwhile, the thirdhalving eventfor Litecoin will occur Wednesday.\xa0 The halving event will cut the mining reward for each successfully minted Litecoin block from 12.50 LTC to 6.25 LTC, increasing its scarcity and potentially triggering a rise in the token’s price.\nLitecoin dipped 0.32% in the past 24 hours to US$94.13, but gained 1.00% in the past seven days.\nThe total crypto market capitalization fell 0.45% in the past 24 hours to US$1.18 trillion, while trading volume rose 36.21% to US$24.14 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nTheForkast 500 NFT indexfell 1.40% in the past 24 hours to 2,550.87 as of 10:45 a.m. in Hong Kong, a drop of 4.60% for the week and 10.53% for the month.\nForkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all logged losses. For the 30-day period, Cardano is the only network seeing an increase in its NFT index with a gain of 4.76%.\nTotal NFT trading volume fell 14.52% in the past 24 hours to US$15.74 million, according to data fromCryptoSlam. Volumes on the Ethereum, BNB Chain, Bitcoin Polygon and Cardano networks fell. The Solana and ImmutableX networks logged increases.\nTotal NFT trading volume in July totaled about US$481 million, the lowest since June 2021. The evaporating volume coincided with five consecutive months of negative returns, with NFT investors in the red for more than US$45 million in July.\n“The losses are really adding up. Sellers continue to lose. It’s a very difficult space,”saidYehudah Petscher, NFT Strategist at Forkast Labs, in a Monday Youtube video. “And this is why you are seeing so many fewer people trading now, because there is no profit.”\nBy NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volume, even as it fell 11.32% to US$844,296. DMarket and Gods Unchained Cards, which are both in-game NFT items, ranked second and third.\nElsewhere, Yuga Labs, the developer behind BAYC,helda closed demo of its upcoming metaverse project Otherside on Friday, which would allow Yuga Labs users to turn their NFT collections into playable characters in the metaverse.\n“Yuga Lab’s Otherside metaverse is getting even closer to release,” said Petscher, “Which in the future, will be a larger NFT release for all BAYC holders.”\nU.S. stock futurestradedlower as of 11:50 a.m. in Hong Kong. However, the three major U.S. stock indexes closed higher in regular trading Friday, with the tech-heavy Nasdaq Composite leading the winners with a 1.90% gain, and are all poised to end July with strong gains.\nIn Asia, the main stock indexes moved higher on Monday morning. China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospiand Japan’sNikkeiall rose.\nWith the exception of Kospi, the other three Asian indexes closed higher last week, afterChinahinted at more policy stimulus to spur its economy and Japanproposedto raise its minimum hourly wage to a record high.\nChina’s National Bureau of Statistics on Monday said the country’s manufacturing PMIroseto 49.3 in June.\nAlthough higher than market predictions, it’s below the 50 mark that separates expansion from contraction, and highlights the need for more economic support from the government, Bloombergreportedthe same day.\nData out of the U.S. last week seemed to be pointing to a soft landing for the economy as the pace of inflation slowed after more than a year of aggressive rate hikes by the U.S. Federal Reserve.\nThe personal consumption expenditures price indexrose3.0% on year in June, the slowest in two years and a key inflation gauge used by the Fed. The data, together with growth in gross domestic product in the second quarter, indicates less likelihood of a recession.\nThe Fed will take a data-driven approach to decide its future moves on interest rates,saidFed Chair Jerome Powell last week, suggesting to some analysts the U.S. central bank is open to pausing the rate hikes in September, after raising a quarter of a point this month.\nThe Fed meets on Sept. 19 and 20 to make its next decision on rates, which are now between 5.25% to 5.50%, the highest level since January 2001. TheCME FedWatch Toolpredicts a 80.5% chance the Fed will keep rates unchanged in September, and a 19.5% chance for another 25-basis-point increase.\nThis week in the U.S. includes second-quarter earnings from tech heavyweights such as Amazon and Apple. The S&P Global’s U.S. manufacturing purchasing manager’s index (PMI) is out Tuesday and the July employment report on Friday, with all offering more peeks into the health of the economy.\n(Updates with equity section.)', 'Bitcoin and Ether prices dropped on Monday morning in Asia, but remained above the support levels of US$29,000 and US$1,800 respectively. The drop coincided with news of a hack at DeFi exchange Curve Finance. Most other top 10 non-stablecoin cryptocurrencies traded lower, with Tron’s TRX token leading the losers. The Forkast 500 NFT index dropped while U.S. equity futures edged higher. Analysts suggest that improved economic resilience and easing inflationary pressures will lead the Federal Reserve to pause interest rate hikes after its decision to raise the rate by 25 basis points in July.\nBitcoin dipped 0.36% in the last 24 hours to US$29,261 as of 07:45 a.m. in Hong Kong and lost 2.65% for the past seven days, according todatafrom CoinMarketCap. The world’s largest cryptocurrency reached a low of US$29,059 on Sunday, but remained above the support level of US$29,000.\nOn Sunday, decentralized stablecoin exchange Curve Finance reported a security flaw on the platform. According todatafrom smart contract auditing firm BlockSec, hackers drained an estimated US$41 million worth of cryptocurrencies from the platform as a result of the malfunction.\nCurve Finance is the third largest decentralized financial exchange (DEX) by 7-day trading volume, according to DeFi data trackerDefiLlama.\nCRV, the native token of Curve DAO and the Curve Finance platform, dropped over 13% in the past 24 hours. Its trading volume surged almost 15 times to over US$228 million, indicating panic among Curve Finance users.\n“Surprisingly, CRV DAO perpetual futures are still trading at a small premium, indicating that traders are more focused on moving positions away from the DEX (regarding total value locked) rather than shorting the token,” said Markus Thielen, Head of Crypto Research & Strategy at digital asset service platform Matrixport, in an emailed comment.\nEther fell 1.06% to US$1,862, holding a weekly loss of 1.38%.\n“The market has been trading soft and sideways since the surge around theXRP rulingearlier this month,”saidSingapore-based crypto asset trading firm QCP Capital in a Sunday market note.\n“However, the market is expecting a spike in volatility and possibly a large price increase in BTC towards the end of the year and into next year with theBlackrock spot ETF rulingas well as the Bitcoin Halving,” said QCP Capital.\nMost other top 10 non-stablecoin cryptocurrencies also logged losses, with Tron’s TRX token leading the losers. It fell 3.97% to US$0.08008, down 3.89% for the week.\nDespite the price drop, average daily transactions on the Tron network reached over 9 million in the second quarter of 2023. That daily volume has contributed to an annual rise of 91.24%, according to areportreleased by Coin98 Analytics on July 19.\nCardano’s ADA token was the only top 10 crypto logging gains. It edged up 0.39% to US$0.3141, but was still trading 0.98% lower for the week.\nMeanwhile, the thirdhalving eventfor Litecoin will occur Wednesday.\xa0 The halving event will cut the mining reward for each successfully minted Litecoin block from 12.50 LTC to 6.25 LTC, increasing its scarcity and potentially triggering a rise in the token’s price.\nLitecoin dipped 0.32% in the past 24 hours to US$94.13, but gained 1.00% in the past seven days.\nThe total crypto market capitalization fell 0.45% in the past 24 hours to US$1.18 trillion, while trading volume rose 36.21% to US$24.14 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nTheForkast 500 NFT indexfell 1.40% in the past 24 hours to 2,550.87 as of 10:45 a.m. in Hong Kong, a drop of 4.60% for the week and 10.53% for the month.\nForkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all logged losses. For the 30-day period, Cardano is the only network seeing an increase in its NFT index with a gain of 4.76%.\nTotal NFT trading volume fell 14.52% in the past 24 hours to US$15.74 million, according to data fromCryptoSlam. Volumes on the Ethereum, BNB Chain, Bitcoin Polygon and Cardano networks fell. The Solana and ImmutableX networks logged increases.\nTotal NFT trading volume in July totaled about US$481 million, the lowest since June 2021. The evaporating volume coincided with five consecutive months of negative returns, with NFT investors in the red for more than US$45 million in July.\n“The losses are really adding up. Sellers continue to lose. It’s a very difficult space,”saidYehudah Petscher, NFT Strategist at Forkast Labs, in a Monday Youtube video. “And this is why you are seeing so many fewer people trading now, because there is no profit.”\nBy NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volume, even as it fell 11.32% to US$844,296. DMarket and Gods Unchained Cards, which are both in-game NFT items, ranked second and third.\nElsewhere, Yuga Labs, the developer behind BAYC,helda closed demo of its upcoming metaverse project Otherside on Friday, which would allow Yuga Labs users to turn their NFT collections into playable characters in the metaverse.\n“Yuga Lab’s Otherside metaverse is getting even closer to release,” said Petscher, “Which in the future, will be a larger NFT release for all BAYC holders.”\nU.S. stock futurestradedlower as of 11:50 a.m. in Hong Kong. However, the three major U.S. stock indexes closed higher in regular trading Friday, with the tech-heavy Nasdaq Composite leading the winners with a 1.90% gain, and are all poised to end July with strong gains.\nIn Asia, the main stock indexes moved higher on Monday morning. China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospiand Japan’sNikkeiall rose.\nWith the exception of Kospi, the other three Asian indexes closed higher last week, afterChinahinted at more policy stimulus to spur its economy and Japanproposedto raise its minimum hourly wage to a record high.\nChina’s National Bureau of Statistics on Monday said the country’s manufacturing PMIroseto 49.3 in June.\nAlthough higher than market predictions, it’s below the 50 mark that separates expansion from contraction, and highlights the need for more economic support from the government, Bloombergreportedthe same day.\nData out of the U.S. last week seemed to be pointing to a soft landing for the economy as the pace of inflation slowed after more than a year of aggressive rate hikes by the U.S. Federal Reserve.\nThe personal consumption expenditures price indexrose3.0% on year in June, the slowest in two years and a key inflation gauge used by the Fed. The data, together with growth in gross domestic product in the second quarter, indicates less likelihood of a recession.\nThe Fed will take a data-driven approach to decide its future moves on interest rates,saidFed Chair Jerome Powell last week, suggesting to some analysts the U.S. central bank is open to pausing the rate hikes in September, after raising a quarter of a point this month.\nThe Fed meets on Sept. 19 and 20 to make its next decision on rates, which are now between 5.25% to 5.50%, the highest level since January 2001. TheCME FedWatch Toolpredicts a 80.5% chance the Fed will keep rates unchanged in September, and a 19.5% chance for another 25-basis-point increase.\nThis week in the U.S. includes second-quarter earnings from tech heavyweights such as Amazon and Apple. The S&P Global’s U.S. manufacturing purchasing manager’s index (PMI) is out Tuesday and the July employment report on Friday, with all offering more peeks into the health of the economy.\n(Updates with equity section.)', 'Bitcoin and Ether prices dropped on Monday morning in Asia, but remained above the support levels of US$29,000 and US$1,800 respectively. The drop coincided with news of a hack at DeFi exchange Curve Finance. Most other top 10 non-stablecoin cryptocurrencies traded lower, with Tron’s TRX token leading the losers. The Forkast 500 NFT index dropped while U.S. equity futures edged higher. Analysts suggest that improved economic resilience and easing inflationary pressures will lead the Federal Reserve to pause interest rate hikes after its decision to raise the rate by 25 basis points in July. Bitcoin flat, altcoins fall on Curve Finance hack Bitcoin dipped 0.36% in the last 24 hours to US$29,261 as of 07:45 a.m. in Hong Kong and lost 2.65% for the past seven days, according to data from CoinMarketCap. The world’s largest cryptocurrency reached a low of US$29,059 on Sunday, but remained above the support level of US$29,000. On Sunday, decentralized stablecoin exchange Curve Finance reported a security flaw on the platform. According to data from smart contract auditing firm BlockSec, hackers drained an estimated US$41 million worth of cryptocurrencies from the platform as a result of the malfunction. A number of stablepools (alETH/msETH/pETH) using Vyper 0.2.15 have been exploited as a result of a malfunctioning reentrancy lock. We are assessing the situation and will update the community as things develop. Other pools are safe. https://t.co/eWy2d3cDDj — Curve Finance (@CurveFinance) July 30, 2023 Curve Finance is the third largest decentralized financial exchange (DEX) by 7-day trading volume, according to DeFi data tracker DefiLlama . CRV, the native token of Curve DAO and the Curve Finance platform, dropped over 13% in the past 24 hours. Its trading volume surged almost 15 times to over US$228 million, indicating panic among Curve Finance users. “Surprisingly, CRV DAO perpetual futures are still trading at a small premium, indicating that traders are more focused on moving positions away from the DEX (regarding total value locked) rather than shorting the token,” said Markus Thielen, Head of Crypto Research & Strategy at digital asset service platform Matrixport, in an emailed comment. Ether fell 1.06% to US$1,862, holding a weekly loss of 1.38%. “The market has been trading soft and sideways since the surge around the XRP ruling earlier this month,” said Singapore-based crypto asset trading firm QCP Capital in a Sunday market note. Story continues “However, the market is expecting a spike in volatility and possibly a large price increase in BTC towards the end of the year and into next year with the Blackrock spot ETF ruling as well as the Bitcoin Halving,” said QCP Capital. Most other top 10 non-stablecoin cryptocurrencies also logged losses, with Tron’s TRX token leading the losers. It fell 3.97% to US$0.08008, down 3.89% for the week. Despite the price drop, average daily transactions on the Tron network reached over 9 million in the second quarter of 2023. That daily volume has contributed to an annual rise of 91.24%, according to a report released by Coin98 Analytics on July 19. Cardano’s ADA token was the only top 10 crypto logging gains. It edged up 0.39% to US$0.3141, but was still trading 0.98% lower for the week. Meanwhile, the third halving event for Litecoin will occur Wednesday.\xa0 The halving event will cut the mining reward for each successfully minted Litecoin block from 12.50 LTC to 6.25 LTC, increasing its scarcity and potentially triggering a rise in the token’s price. Litecoin dipped 0.32% in the past 24 hours to US$94.13, but gained 1.00% in the past seven days. The total crypto market capitalization fell 0.45% in the past 24 hours to US$1.18 trillion, while trading volume rose 36.21% to US$24.14 billion. Forkast 500 index falls, monthly NFT trades hit two-year low The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index fell 1.40% in the past 24 hours to 2,550.87 as of 10:45 a.m. in Hong Kong, a drop of 4.60% for the week and 10.53% for the month. Forkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all logged losses. For the 30-day period, Cardano is the only network seeing an increase in its NFT index with a gain of 4.76%. Total NFT trading volume fell 14.52% in the past 24 hours to US$15.74 million, according to data from CryptoSlam . Volumes on the Ethereum, BNB Chain, Bitcoin Polygon and Cardano networks fell. The Solana and ImmutableX networks logged increases. Total NFT trading volume in July totaled about US$481 million, the lowest since June 2021. The evaporating volume coincided with five consecutive months of negative returns, with NFT investors in the red for more than US$45 million in July. “The losses are really adding up. Sellers continue to lose. It’s a very difficult space,” said Yehudah Petscher, NFT Strategist at Forkast Labs, in a Monday Youtube video. “And this is why you are seeing so many fewer people trading now, because there is no profit.” By NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volume, even as it fell 11.32% to US$844,296. DMarket and Gods Unchained Cards, which are both in-game NFT items, ranked second and third. Elsewhere, Yuga Labs, the developer behind BAYC, held a closed demo of its upcoming metaverse project Otherside on Friday, which would allow Yuga Labs users to turn their NFT collections into playable characters in the metaverse. “Yuga Lab’s Otherside metaverse is getting even closer to release,” said Petscher, “Which in the future, will be a larger NFT release for all BAYC holders.” U.S. equities on track for July gains Image: Getty Images U.S. stock futures traded lower as of 11:50 a.m. in Hong Kong. However, the three major U.S. stock indexes closed higher in regular trading Friday, with the tech-heavy Nasdaq Composite leading the winners with a 1.90% gain, and are all poised to end July with strong gains. In Asia, the main stock indexes moved higher on Monday morning. China’s Shanghai Composite , Hong Kong’s Hang Seng , South Korea’s Kospi and Japan’s Nikkei all rose. With the exception of Kospi, the other three Asian indexes closed higher last week, after China hinted at more policy stimulus to spur its economy and Japan proposed to raise its minimum hourly wage to a record high. China’s National Bureau of Statistics on Monday said the country’s manufacturing PMI rose to 49.3 in June. Although higher than market predictions, it’s below the 50 mark that separates expansion from contraction, and highlights the need for more economic support from the government, Bloomberg reported the same day. Data out of the U.S. last week seemed to be pointing to a soft landing for the economy as the pace of inflation slowed after more than a year of aggressive rate hikes by the U.S. Federal Reserve. The personal consumption expenditures price index rose 3.0% on year in June, the slowest in two years and a key inflation gauge used by the Fed. The data, together with growth in gross domestic product in the second quarter, indicates less likelihood of a recession. The Fed will take a data-driven approach to decide its future moves on interest rates, said Fed Chair Jerome Powell last week, suggesting to some analysts the U.S. central bank is open to pausing the rate hikes in September, after raising a quarter of a point this month. The Fed meets on Sept. 19 and 20 to make its next decision on rates, which are now between 5.25% to 5.50%, the highest level since January 2001. The CME FedWatch Tool predicts a 80.5% chance the Fed will keep rates unchanged in September, and a 19.5% chance for another 25-basis-point increase. This week in the U.S. includes second-quarter earnings from tech heavyweights such as Amazon and Apple. The S&P Global’s U.S. manufacturing purchasing manager’s index (PMI) is out Tuesday and the July employment report on Friday, with all offering more peeks into the health of the economy. (Updates with equity section.) View comments', "Bitcoin Mining Machines Moving to Russia Due to Saturation in US, Despite Sanctions Russia's Bitcoin Mining Market Is Rising Russia's Bitcoin mining market is booming, and hardware providers Bitmain and MicroBT are positioned to profit from the expansion. Because of its access to inexpensive electricity and frigid temperature, Russia has long been a leader in terms of Bitcoin hash rate . Speaking at Consensus 2023, Ethan Vera, COO at mining services company Luxor Technologies, said that more equipment is entering Russia than any other country in the globe. As China's mining industry was outlawed in 2021, Russia's mining market share increased, making it the second- or third-largest in the world. There are no restrictions on Russia that entirely forbid participation in the mining industry, despite the fact that international sanctions were put in place as a result of Russia's invasion of Ukraine in 2022 and ongoing attacks on the nation. Russian miners have been encouraged to expand their operations by better mining economics, reduced regulatory oversight and taxes compared to the US and other countries, and low energy costs. Due to these factors, it will be the only nation that can significantly speed up the rise of hashrate, according to a report by mining company Cryptocurrency Mining Group (CMG).", "Russia'sBitcoinminingmarket is booming, and hardware providers Bitmain and MicroBT are positioned to profit from the expansion.\nBecause of its access to inexpensive electricity and frigid temperature, Russia has long been a leader in terms of Bitcoinhash rate. Speaking at Consensus 2023, Ethan Vera, COO at mining services company Luxor Technologies, said that more equipment is entering Russia than any other country in the globe.\nAs China's mining industry was outlawed in 2021, Russia's mining market share increased, making it the second- or third-largest in the world.\nThere are no restrictions on Russia that entirely forbid participation in the mining industry, despite the fact that international sanctions were put in place as a result of Russia's invasion of Ukraine in 2022 and ongoing attacks on the nation.\nRussian miners have been encouraged to expand their operations by better mining economics, reduced regulatory oversight and taxes compared to the US and other countries, and low energy costs.\nDue to these factors, it will be the only nation that can significantly speed up the rise of hashrate, according to areportby mining company Cryptocurrency Mining Group (CMG).", "Russia'sBitcoinminingmarket is booming, and hardware providers Bitmain and MicroBT are positioned to profit from the expansion.\nBecause of its access to inexpensive electricity and frigid temperature, Russia has long been a leader in terms of Bitcoinhash rate. Speaking at Consensus 2023, Ethan Vera, COO at mining services company Luxor Technologies, said that more equipment is entering Russia than any other country in the globe.\nAs China's mining industry was outlawed in 2021, Russia's mining market share increased, making it the second- or third-largest in the world.\nThere are no restrictions on Russia that entirely forbid participation in the mining industry, despite the fact that international sanctions were put in place as a result of Russia's invasion of Ukraine in 2022 and ongoing attacks on the nation.\nRussian miners have been encouraged to expand their operations by better mining economics, reduced regulatory oversight and taxes compared to the US and other countries, and low energy costs.\nDue to these factors, it will be the only nation that can significantly speed up the rise of hashrate, according to areportby mining company Cryptocurrency Mining Group (CMG).", 'The SEC asked Coinbase to delist every cryptocurrency except bitcoin before suing the exchange. Armstrong told the Financial Times the SEC recommendation left us no choice but to head to court. The U.S. Securities and Exchange Commission (SEC) had asked Coinbase (COIN) to stop trading in all cryptocurrencies other than bitcoin (BTC) prior to suing the crypto exchange, according to a Financial Times report , citing Coinbase CEO Brian Armstrong. The SEC told the FT its enforcement division did not make formal requests for “companies to delist crypto assets.” “In the course of an investigation, the staff may share its own view as to what conduct may raise questions for the commission under the securities laws,” it added, according to the FT report. SEC Chair Gary Gensler, the four SEC commissioners and SEC staff have had different opinions on matters and don\'t necessarily reflect the institution\'s position unless expressed as so. “The interview as published earlier today by the Financial Times omitted critical context regarding our conversations with the SEC in the U.S.," a Coinbase spokesperson told CoinDesk in an email. "Whether deliberately or as a result of an oversight, the author implied that the SEC ordered Coinbase to \'halt all trading of every crypto asset other than Bitcoin.\' As stated by the SEC itself further in the article, its “enforcement division did not make formal requests for “companies to delist crypto assets”. Coinbase further added that, "the views shared in the FT article may have represented the views of some staff at the time, but did not represent those of the Commission more broadly. We continue our discussions with the Commission.." Armstrong told FT that "the SEC made the recommendation before launching legal action against the Nasdaq-listed company last month for failing to register as a broker," the report said. On June 6, the SEC charged Coinbase with breaching federal securities law alleging that it was simultaneously operating as a broker, an exchange and a clearinghouse for unregistered securities – namely, 13 different cryptocurrencies but not bitcoin. Coinbase shot back saying the SEC\'s action violates due process and constitutes an abuse of discretion. Coinbase and the SEC are now embattled in a legal process, even as Ripple scored a partial victory in a case against the SEC, ruling that Ripple\'s XRP token is not a security. Story continues “They came back to us, and they said . . . we believe every asset other than bitcoin is a security,” Armstrong said according to the FT. “And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.” Armstrong said the SEC recommendation left us no choice but to head to court. Gensler has previously suggested that all cryptocurrencies other than bitcoin are securities. Armstrong\'s revelations suggest the SEC viewed Ether, the second-largest cryptocurrency, as a security before suing Coinbase. The SEC and FT did not immediately respond to CoinDesk\'s request for comment. Read More: Coinbase Goes to Court Against the SEC UPDATE (July 31, 05:35 UTC): Adds details throughout, updates headline. UPDATE (July 31, 11:55 UTC): Adds comment from Coinbase\'s spokesperson.', '(Bloomberg) -- The native token of one of crypto’s top decentralized exchanges tumbled after the platform said it had been “exploited” as a result of a vulnerability in a programming language. Most Read from Bloomberg QQQ Churns in Late Hours on Apple, Amazon Earnings: Markets Wrap Trump Cites Self Incrimination Concern in Lawsuit Against Cohen Elon Musk Says Treasury Bills Are ‘No-Brainer’ The Strange Story Behind ‘Baldur’s Gate 3,’ One of the Year’s Biggest Releases How an Ex-Goldman Banker Fought US Sanctions Over Russia — and Won Curve Finance, like other decentralized finance projects in crypto, relies on different kinds of software built on top of blockchain technology. A glitch in a particular version of Vyper — a programming language similar to Python and widely used in DeFi applications — led to the exploit, Curve tweeted Sunday. Curve Finance’s CRV token has shed about 13% since the problem emerged and was trading at approximately 64 US cents as of 12:50 p.m. in Singapore on Monday, according to data compiled by Bloomberg. BlockSec, which provides security audit services for crypto software, estimated the hack had already led to more than $40 million in losses. Tarun Chitra, chief executive officer and founder of crypto risk modeling firm Gauntlet, estimated the exploiter made away with about $20 million of CRV and a version of Ether. “We are assessing the situation and will update the community as things develop,” Curve said. The total value of assets locked on Curve Finance — the largest decentralized exchange after Uniswap — retreated to about $1.7 billion on Monday from more than $3 billion on Sunday, according to data provider DeFiLlama. Curve’s founder Michael Egorov did not immediately respond to a request for comment. CRV is used as collateral on a decentralized lending service known as Aave. Gauntlet’s Chitra said that so far there were no signs of “bad loans” on the Aave platform due to the slide in CRV. Aave’s token has declined about 4% in the past 24 hours, CoinGecko figures show. Digital assets like Bitcoin and Ether wobbled a tad on concerns about wider potential knock-on effects but later stabilized. Bitcoin was little changed at about $29,400, while Ether was steady at $1,865. Hackers pilfered a record $3.8 billion worth of crypto in 2022 and Curve Finance was among the long list of organizations impacted. The pace of incidents has cooled but the risk of security breaches still clouds decentralized finance, or DeFi, where people rely on blockchain-based software known as smart contracts to undertake activities like trading or lending. Story continues --With assistance from Sidhartha Shukla. (Updates with the drop in the total value of assets locked on Curve Finance in the sixth paragraph.) Most Read from Bloomberg Businessweek Influencers Built Up This Wellness Startup—Until They Started Getting Sick AI in Hollywood Has Gone From Contract Sticking Point to Existential Crisis Amazon Unveils Biggest Grocery Overhaul Since Buying Whole Foods With AI Booming, Gary Gensler Wants to Keep Finance Safe for Humans Honoring the Enslaved Man Who Made Jack Daniel’s First Whiskey ©2023 Bloomberg L.P. View comments', '(Bloomberg) -- The native token of one of crypto’s top decentralized exchanges tumbled after the platform said it had been “exploited” as a result of a vulnerability in a programming language.\nMost Read from Bloomberg\n• QQQ Churns in Late Hours on Apple, Amazon Earnings: Markets Wrap\n• Trump Cites Self Incrimination Concern in Lawsuit Against Cohen\n• Elon Musk Says Treasury Bills Are ‘No-Brainer’\n• The Strange Story Behind ‘Baldur’s Gate 3,’ One of the Year’s Biggest Releases\n• How an Ex-Goldman Banker Fought US Sanctions Over Russia — and Won\nCurve Finance, like other decentralized finance projects in crypto, relies on different kinds of software built on top of blockchain technology. A glitch in a particular version of Vyper — a programming language similar to Python and widely used in DeFi applications — led to the exploit, Curve tweeted Sunday.\nCurve Finance’s CRV token has shed about 13% since the problem emerged and was trading at approximately 64 US cents as of 12:50 p.m. in Singapore on Monday, according to data compiled by Bloomberg.\nBlockSec, which provides security audit services for crypto software, estimated the hack had already led to more than $40 million in losses. Tarun Chitra, chief executive officer and founder of crypto risk modeling firm Gauntlet, estimated the exploiter made away with about $20 million of CRV and a version of Ether.\n“We are assessing the situation and will update the community as things develop,” Curve said.\nThe total value of assets locked on Curve Finance — the largest decentralized exchange after Uniswap — retreated to about $1.7 billion on Monday from more than $3 billion on Sunday, according to data provider DeFiLlama.\nCurve’s founder Michael Egorov did not immediately respond to a request for comment.\nCRV is used as collateral on a decentralized lending service known as Aave. Gauntlet’s Chitra said that so far there were no signs of “bad loans” on the Aave platform due to the slide in CRV. Aave’s token has declined about 4% in the past 24 hours, CoinGecko figures show.\nDigital assets like Bitcoin and Ether wobbled a tad on concerns about wider potential knock-on effects but later stabilized. Bitcoin was little changed at about $29,400, while Ether was steady at $1,865.\nHackers pilfered a record $3.8 billion worth of crypto in 2022 and Curve Finance was among the long list of organizations impacted.\nThe pace of incidents has cooled but the risk of security breaches still clouds decentralized finance, or DeFi, where people rely on blockchain-based software known as smart contracts to undertake activities like trading or lending.\n--With assistance from Sidhartha Shukla.\n(Updates with the drop in the total value of assets locked on Curve Finance in the sixth paragraph.)\nMost Read from Bloomberg Businessweek\n• Influencers Built Up This Wellness Startup—Until They Started Getting Sick\n• AI in Hollywood Has Gone From Contract Sticking Point to Existential Crisis\n• Amazon Unveils Biggest Grocery Overhaul Since Buying Whole Foods\n• With AI Booming, Gary Gensler Wants to Keep Finance Safe for Humans\n• Honoring the Enslaved Man Who Made Jack Daniel’s First Whiskey\n©2023 Bloomberg L.P.', 'Investing.com -- U.S. stocks point higher ahead of a week of major corporate results and key economic data. Amazon and Apple are set to round out a multi-week crush of earnings from Big Tech, while nonfarm payroll figures for July could provide clues into the impact of over a year of Federal Reserve policy tightening. 1. Futures edge higher U.S. stock futures inched up on Monday, but stayed close to the flatline, as investors looked ahead to a fresh batch of tech earnings and key U.S. employment data this week. At 05:12 ET (09:12 GMT), the Dow futures contract had gained 18 points or 0.05%, S&P futures added 4 points or 0.08%, and Nasdaq 100 futures moved up by 8 points or 0.05%. The main indices remain on track to post monthly gains before the final trading day of July. The Dow Jones Industrial Average, which saw its longest win streak since 1987 snapped last week, is up 3.1% this month, while the S&P 500 has climbed 3% and the tech-heavy Nasdaq Composite has added 3.8%. As July turns to August, traders are awaiting earnings later in the week from Amazon and Apple, as well as chipmakers AMD (NASDAQ:AMD) and Qualcomm (NASDAQ:QCOM). Meanwhile, the crucial U.S. nonfarm payrolls report for July is due out on Friday, with economists predicting that the world\'s biggest economy added fewer jobs compared to the prior month. 2. Amazon and Apple results ahead E-commerce giant Amazon (NASDAQ:AMZN) and iPhone-maker Apple (NASDAQ:AAPL) will both report their latest quarterly results on Thursday, rounding out a wave of closely-watched Big Tech earnings in recent weeks. Focus will likely hover around how the companies\' revenue flows fared during a three-month period marked by economic uncertainty that has persuaded some businesses and individuals to rein in spending. For Amazon, attention will likely turn to its all-important cloud computing unit, Amazon Web Services , where growth decelerated in the previous quarter. Amazon has also flagged that the slowdown at the division continued into April. Story continues Apple, meanwhile, will deliver its first results since the unveiling of its highly-anticipated Vision Pro headset in June. Despite the excitement around the device, weaker consumer demand is expected to weigh on other products like the iPhone and iPad. Analysts may also be keen to question Amazon and Apple executives about their plans for artificial intelligence (AI). Last week, tech peers Microsoft (NASDAQ:MSFT), Facebook-owner Meta Platforms (NASDAQ:META), and Google-parent Alphabet (NASDAQ:GOOGL) cautioned that spending levels may soon rise as they race to develop AI tools. 3. U.S. jobs report highlights economic calendar Hiring in the U.S. is projected to have slowed in July, but the job market is expected to remain relatively tight even in the face of aggressive Federal Reserve interest rate hikes. Economists predict that total nonfarm employment rose by 200,000 during the month, down from the June reading of 209,000, while the jobless rate is expected to remain steady at 3.6%. The labor market has been a major focus of the Fed\'s long-standing monetary tightening campaign, with policymakers arguing that a loosening in employer demand could help alleviate inflationary pressures. The Fed increased interest rates by 25 basis points last week, but suggested that any future decisions would be "data-dependent." Despite signs of moderation, job growth has remained robust in recent months. The strength has in turn fueled speculation that the Fed may be able to engineer a so-called "soft landing" -- corralling inflation without sparking a meltdown in the broader economy. Friday\'s figures may provide more clarity on this key question. 4. SEC asked Coinbase to halt all non-Bitcoin trading - FT The U.S. Securities and Exchange Commission requested that Coinbase (NASDAQ:COIN) cease trading in all digital tokens except for Bitcoin prior to filing a lawsuit against the cryptocurrency exchange, according to the Financial Times. In an interview, Coinbase Chief Executive Brian Armstrong told the paper that the SEC "said...we believe every asset other than bitcoin is a security." Armstrong added that the regulators then asked that Coinbase delist all of the more than 200 tokens it offers to customers, apart from Bitcoin. Armstrong refuted the claim, saying that agreeing to the shutdowns "would have essentially meant the end of the crypto industry in the U.S." Instead, he said Coinbase decided to challenge the SEC\'s assertions in court. The SEC has been angling to gain more control over the crypto industry, with Chair Gary Gensler arguing that most cryptocurrencies qualify as securities, or tradeable financial assets. Coinbase was sued by the SEC last month for failing to register as a broker. Should the SEC win this case, it could set a precedent for the power regulators in the U.S. have over crypto businesses and potentially lead to more stringent compliance rules. For its part, the SEC told the FT that its enforcement division did not make formal requests for "companies to delist crypto assets." It also declined to comment on what the delisting would mean for the crypto industry. 5. Walmart boosts Flipkart stake - WSJ Retail giant Walmart (NYSE:WMT) has further cemented its interest in Flipkart through a $1.4 billion purchase of shares from a major investor in the Indian e-commerce group, according to the Wall Street Journal. Walmart bought New York-based hedge fund Tiger Global\'s remaining shares in Flipkart, the paper reported, citing a letter sent by Tiger to its investors. The transaction valued Flipkart at $35B, down from the almost $38B attached by Tiger to the company in 2021. Meanwhile, Walmart also bought out private equity firm Accel\'s remaining 1% stake in Flipkart, the Economic Times newspaper reported, although the size of the purchase was unknown. The moves boost Walmart\'s exposure to Flipkart at a time when the Arkansas-based company is looking to expand its presence in the digital commerce space. Walmart paid $16B more than five years ago for an initial 77% stake in Flipkart, a wide-ranging business catering to more than 450 million customers. Related Articles Amazon and Apple earnings ahead, U.S. jobs report looms -- what\'s moving markets Analysis-Dwindling excess savings could scupper markets\' soft-landing hopes Canada\'s Trudeau sets sights on fourth election fight with Cabinet refresh', 'Investing.com -- U.S. stocks point higher ahead of a week of major corporate results and key economic data. Amazon and Apple are set to round out a multi-week crush of earnings from Big Tech, while nonfarm payroll figures for July could provide clues into the impact of over a year of Federal Reserve policy tightening. 1. Futures edge higher U.S. stock futures inched up on Monday, but stayed close to the flatline, as investors looked ahead to a fresh batch of tech earnings and key U.S. employment data this week. At 05:12 ET (09:12 GMT), the Dow futures contract had gained 18 points or 0.05%, S&P futures added 4 points or 0.08%, and Nasdaq 100 futures moved up by 8 points or 0.05%. The main indices remain on track to post monthly gains before the final trading day of July. The Dow Jones Industrial Average, which saw its longest win streak since 1987 snapped last week, is up 3.1% this month, while th
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-07-31
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $572,427,864,000
- Hash Rate: 366776884.7731455
- Transaction Count: 445666.0
- Unique Addresses: 677346.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin and all other top 10 non-stablecoin cryptocurrencies gained in Friday afternoon trading in Asia. The gains come after Ripple Labs achieved apartial victoryon Thursday when a U.S. court ruled that Ripple Labs’ programmatic sales of the XRP cryptocurrency did not qualify as the offer and sale of investment contracts. The U.S. Securities and Exchange Commission (SEC) in 2020 accused Ripple of offering XRP as an unregistered security. The judgment marks a significant milestone in the three-year legal tussle between the San Francisco-based payments firm and the U.S. regulator. XRP rallied over 62% in the past 24 hours.
See related article:What is XRP and what is Ripple?
Bitcoin, the world’s largest cryptocurrency by market capitalization, gained 2.46% to US$31,115 in 24 hours to 4 p.m. in Hong Kong, and increased 3.69% on the week, according toCoinMarketCap data. Ether strengthened 6.46% to US$1,991 and rose 7.26% in the last seven days.
Boosted by the ruling on the SEC-Ripple case, XRP led a rally in the crypto market on Friday, rising 62.71% to US$0.7674 and bringing its weekly gains to 65.47%.
In asummary judgmenton Thursday, New York Southern District Court Judge Analisa Torres ruled that Ripple’s programmatic sales of the XRP token on public exchanges do not constitute securities, but the verdict also said that Ripple’s XRP sales to institutional investors violated securities laws.
The SEC firstsuedthe San Francisco-based financial technology firm in 2020 on the grounds that XRP constituted a security.
Ripple’s chief legal officer Stuart Alderoty called the judgment “a huge win” in atweeton Friday. “The only thing the Court found constitutes an investment contract is past direct XRP sales to institutional clients. There will be further court proceedings only on these institutional sales per the Court’s order,” Alderoty said.
Coinbase, the largest crypto exchange in the U.S., said in atweetthat it is reopening trading of XRP. Other crypto exchanges like Crypto.com alsotweetedthat it is enabling XRP trading, while Kraken Prosaid on Twitterthat XRP is “back in full-trading mode” on its platform.
“This can be considered a win because XRP is one of the more centralized foundations, with a prominent figurehead who offered standard sales via exchanges, and formal distribution programs. If XRP is not considered a security, nearly nothing sold via exchanges is,” Vincent Chok, CEO of Hong Kong-based consultancy First Digital, toldForkastin an emailed response.
“If the court states that XRP is not a security, it strengthens the case for many other tokens that the SEC considers a security. The SEC has tried the regulation by enforcement tactic, but this ruling might make it think twice about its past approach,” Chok added.
However, according to Ben Caselin, vice president and chief strategy officer at Dubai-based crypto trading platform MaskEX, the court’s ruling might be cause for some relief among investors, but this tug-of-war is far from over.
“Due to their peer-to-peer and digital native nature, cryptocurrencies do not easily allow for regulation in the traditional sense, but, going forward, if projects and companies who issue tokens want to deal with the general public and institutional investors, they might want to practice more caution compared to a few years ago,” Caselin toldForkastin an emailed response.
XRP’s 24-hour trading volume soared 1,743.38% to US$13.27 billion, while its market capitalization strengthened 64.52% to US$40.85 billion.
The verdict on the Ripple vs. SEC lawsuit also boosted prices of all top 10 non-stablecoin cryptocurrencies.
Cardano’s ADA token gained 22.88% to US$0.3526, bringing its weekly gains to 25.91%. Solana increased 31.98% to US$28.75 and is up 47.96% on the week. Polygon’s Matic token strengthened 17.96% to US$0.8555 in 24 hours and 29.4% on the week.
The three cryptocurrencies saw double-digit losses in early June when the SEC labeled the tokens as financial securities in itslawsuitsagainst crypto exchanges Coinbase and Binance.US.
“The resolution of the lawsuit could lead to increased investor and market confidence in XRP [which] could attract new investors and drive greater liquidity and trading volume for XRP,” Minal Thukral, executive vice-president of growth and strategy at CoinDCX, India’sfirst crypto unicorn, said in an emailed statement on Friday.
The total crypto market capitalization rose 5.59% to US$1.25 trillion, while market volume increased 131.39% to US$70.53 billion in the past 24 hours.
The indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.
In the non-fungible token (NFT) market, the mainForkast 500 NFT indexedged up 0.27% to 2,706.85 in 24 hours to 6.45 p.m. in Hong Kong.
Forkast’s Ethereum and Solana indices also gained in the same period.
Total NFT sales volume on Ethereum blockchain gained 8.95% in the past 24 hours to US$17.07 million, according to data fromCryptoSlam.
By collections, Ethereum-based Bored Ape Yacht Club recorded the highest 24-hour sales volume, rising 2.76% to US$2.09 million.
NFT sales volume on the Bitcoin network declined 22.49% in 24 hours to US$2.68 million. Bitcoin’s $FRAM BRC-20 NFTs ranked the second-highest among collections.
“CryptoPunks are gaining traction after Twitter users startedspeculatingthat a new cryptocurrency would be launched by an influencer named Pauly, who has been active in the Phunks community,” according to Yehudah Petscher, NFT Strategist at Forkast Labs, the parent company of Forkast.News.
“Pauly is known as a co-defendant in the Yuga Labs vs Ryder Rips BAYC collection lawsuit, and also as potentially a co-creator of Yuga Labs’ $APE Coin,” Petscher added.
Ethereum-basedCryptoPunksgained 9.01% in sales volume to US$927,929 in the past 24 hours, ranking it the fourth biggest collection.
Asian stock markets mostly rose on Friday after the People’s Bank of China deputy governor Liu Guoqiangsaidthat China’s central bank will step up “countercyclical adjustments” to aid recovery of the world’s second-largest economy. The central bank would use monetary policy tools such as the reserve requirement ratio, medium-term lending facility, and open market operations to boost economic growth.
China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospistrengthened while Japan’sNikkeidropped.
India’s annual wholesale price index-based inflationdeclinedfor the third straight month to 4.12% in June compared to 3.48% in May. The decline was mainly due to lower prices of food products, mineral oils, crude petroleum and natural gas.
India’sSensexindex at the Bombay Stock Exchange gained 0.77% at the close of trading hours on Friday.
Earlier this month,Goldman Sachs saidthe world’smost populouscountry would become the world’ssecond largest economyby 2075, surpassing not only Japan and Germany but also the U.S.
U.S. stock futures strengthened as of 8 p.m. in Hong Kong, with the Dow Jones Industrial Average futures, the S&P 500 futures, and the Nasdaq 100 Futures all in the green.
The U.S.producer price index(PPI) released Thursday recorded a 0.1% year-on-year rise for June, down from 0.9% in May. The June figure is the smallest increase since August 2020. The data is also well below analystexpectationsof a 0.4% annual increase.
The latest U.S.consumer price index, a key inflation indicator, slowed to 3% in June, beating market expectations of3.1%. It was also the smallest annual increase since March 2021, and brought inflation rates closer to the Federal Reserve’starget of 2%.
Jeff Feng, co-founder of Sei Labs – a contributor to the Sei blockchain focused on trading – and a former Goldman Sachs analyst said that cooling inflation will be a boost to crypto markets.
“This economic thaw doesn’t merely spell relief from the spiraling prices but is also poised to breed bullish sentiment across markets, especially for risk-on assets like cryptocurrencies. As the fear of inflation recedes, investors, buoyed by the healthier economic outlook, may be more inclined to channel their resources toward such assets,” Feng wrote.
The Federal Reserve meets on July 26 to discuss its next move on interest rates which are currently between 5% and 5.25%.
“We will still see a rate hike in July. The debate will intensify though, and we do not expect a move in September,” Keith Wade, chief economist and strategist at Schroders, said in an emailed statement on Friday.
“The next move should prove to be the last hike in this cycle with cuts following thereafter,” Wade added.
European bourses traded mixed on Friday as the benchmark STOXX 600 gained while Germany’s DAX 40 dropped during Friday afternoon trading hours in Europe.
(updates with equities section.)...
- Reddit Posts (Sample): [['u/bigoldbert23', 'How does bitcoin help prevent inflation?', 21, '2023-07-31 18:54', 'https://www.reddit.com/r/Bitcoin/comments/15elipm/how_does_bitcoin_help_prevent_inflation/', "Imagine we're in 2030 and after WW3 all current fiat currencies have collapsed. Slowly bitcoin takes hold as the only hard money still available to exchange for goods and services. By 2040 it's been adopted as the global currency. Governments and central banks can no longer fuck with money and the world is starting to rebuild on a bitcoin standard. All well and good. What I wondered is I often hear how a bitcoin standard would help prevent inflation, but I am not sure if this is true or possible. Let's say an apple costs 10 sats in this brave new world, but one year, there's a bad apple harvest and limited supply. Normal supply and demand economics would still apply, so the price of an apple rapidly doubles to 20 sats. Those with enough sats can pay the increased price, but for some, too expensive, and they can't afford to buy apples. In this example, the same situation would apply as it does now, except the governments could not try and tinker with the economy at their pleasure - or money print anymore.\n\nSo, am I missing something? Would a bitcoin standard help prevent this type of inflation or is this just inherent in a free market?", 'https://www.reddit.com/r/Bitcoin/comments/15elipm/how_does_bitcoin_help_prevent_inflation/', '15elipm', [['u/XxZeroFiatxX', 25, '2023-07-31 19:19', 'https://www.reddit.com/r/Bitcoin/comments/15elipm/how_does_bitcoin_help_prevent_inflation/ju87khh/', 'The price of apples could still go up if there\'s a bad harvest, but that wouldn\'t the norm. Right now the price of apples goes up during a good harvest because the government prints money to buy missles. We wouldn\'t have this persistent increase in prices of all goods under a bitcoin standard. It would be a transitory market response to a particular situation. So there wouldn\'t be a discussion on "inflation" as a macroeconomic trend, it would be a one-off event for the apple industry.', '15elipm']]]]...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Good morning. Here’s what’s happening:\nPrices:Traders are taking aim at lending protocols following the attack on Curve\nInsights:Curve Finance chaos following its hack over the weekend has put a $168 million lending position held by founder Michael Egorov at greater risk of liquidation. PLUS: The litecoin Foundation and Ballet tease a collectible card sale.\nCoinDesk Market Index (CMI)\n1,229\n−8.3▼0.7%\nBitcoin (BTC)\n$29,273\n−195.9▼0.7%\nEthereum (ETH)\n$1,861\n−14.6▼0.8%\nS&P 500\n4,588.96\n+6.7▲0.1%\nGold\n$2,001\n+41.0▲2.1%\nNikkei 225\n33,172.22\n+413.0▲1.3%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,229", "\\u22128.3\\u25bc0.7%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,273", "\\u2212195.9\\u25bc0.7%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,861", "\\u221214.6\\u25bc0.8%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,588.96", "+6.7\\u25b20.1%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$2,001", "+41.0\\u25b22.1%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["33,172.22", "+413.0\\u25b21.3%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBitcoin, Ether Stable, CRV Slumps as Market Braces for Monster Liquidation\nAs Asia begins its business day, crypto majors like bitcoin and ether are stable, but it\'s a sea of red elsewhere.\nBitcoin is down 0.16% to $29,236, and ether is changing hands at $1,857, down 0.27%.\neToro US Investment Analyst Callie Cox blames seasonality as a reason why the crypto majors aren’t moving.\n“The seasonal patterns we see show that bitcoin prices have been a little bit weaker in August and September,” Cox said on CoinDesk TV\'s "First Mover" program. “People are going off to the beach; they\'re not looking at their portfolios or trading their portfolios.”\nBut elsewhere in the market, chaos is looming.\nCRV, the token attached to Curve Finance’s DAO,which recently suffered an exploitvia a bug in the programming language used in its tech stack, is down 10.3% to 56 cents.\nPart of the reason why the market is reacting in such a way is because of a lending position held by founder Michael Egorov on lending protocol Aave.\nEgorov currentlyhas a $168 million lending positionon Aave secured by CRV, which is drifting toward liquidation. Should this be liquidated, the rapid price declines would cause a cascading series of liquidations, and the liquidated assets would flood the market.\nAs such, lending protocol tokens like AAVE, Compound’s COMP, Maple Finance’s MPL, and Maker’s MKR are leading the market declines. AAVE is down 8%, while COMP has declined 8.8%, MPL is down 3.2%, and MKR 2%.\n[{"Asset": "Gala", "Ticker": "GALA", "Returns": "+12.8%", "DACS Sector": "Entertainment"}, {"Asset": "XRP", "Ticker": "XRP", "Returns": "+7.5%", "DACS Sector": "Currency"}, {"Asset": "Terra", "Ticker": "LUNA", "Returns": "+4.2%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221219.0%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u221213.4%", "DACS Sector": "Currency"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u221210.4%", "DACS Sector": "Computing"}]\nCurve Chaos Continues\nChaos at Curve Finance has put a $168 million lending position held by founder Michael Egorov at greater risk of liquidation, an event that – if it happens – could have giant implications across decentralized finance (DeFi). Egorov has $168 million of CRV – Curve’s native token – securing loans from multiple DeFi protocols, data on blockchain analytics siteDeBankshows. That equals almost34% of the token’s total market capitalization. Followingan exploitover the weekend at Curve, CRV’s price has sunk more than 20%, putting Egorov closer to levels where he’d get liquidated.\nLitecoin, Ballet\'s Silver Cards\nLitecoin is sometimes referred to as the “digital silver” to bitcoin’s reputation as “digital gold.” That reference appears to be the basis for a new crypto promotion by Litecoin creator Charlie Lee and his brother Bobby Lee, aiming to capitalize on a sudden surge in interest in the project, thanks to a quadrennial event in the blockchain’s lifecycle known as a “halving,” happening this week. Bobby Lee is CEO and co-founder ofBallet, a manufacturer of special cards used for “cold storage” or holding crypto offline. And he’s teamed up with his younger brother Charlie Lee, executive director of the Litecoin Foundation, to commemorate the blockchain’s third halving by creating 500 collectible cards made of 99.9% pure silver. The cards themselves – the silver alone – could carry a value ofroughly $40 a card, but they would also be loaded with 6.25 LTC, or $581 worth. They are expected to be sold for about $1,000, which means the premium would roughly represent intangible value to buyers. All proceeds from the sale will be donated to theLitecoin Foundationto further the blockchain’s adoption and development, according to Charlie Lee.\nMicroStrategy Q2 Earnings\n8:30 a.m. HKT/SGT(12:30 p.m. UTC):Jibun Bank Manufacturing PMI (July)\n9:45 a.m. HKT/SGT(1:45 a.m. UTC):Caixin Manufacturing PMI (July)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nCurve Finance Drained of $50M in Latest DeFi Exploit; Bitcoin Flirts With $29.5K\nMore than $100 million worth of crypto could be at risk due to a bug impacting Curve, a stablecoin exchange at the center of Ethereum’s DeFi ecosystem. Ava Labs president John Wu weighed in on what this means for the state of the crypto industry, along with his thoughts on asset tokenization. eToro US investment analyst Callie Cox shared her outlook on bitcoin ahead of the July jobs report. And, DappRadar\'s Pedro Herrera discussed the future of decentralized social dapps.\nIRS: Crypto Staking Rewards Taxable Once Investor Gets Hands on Tokens:The latest tax guidance from the Internal Revenue Service outlines how and when staking rewards are taxed.\nCoinbase’s New Base Blockchain Gobbled Up $68M in Ether, and It’s Not Even Officially Live Yet:Meme coin BALD’s 4,000,000% surge seemed to spark the huge inflows to the nascent crypto bridge.\nAfter the Curve Attack: What\'s Next for DeFi?:The $70 million weekend exploit of major platforms, including Curve, come at a time when developers are discussing changes to the prevailing AMM liquidity model.', 'Good morning. Here’s what’s happening: Prices: Traders are taking aim at lending protocols following the attack on Curve Insights: Curve Finance chaos following its hack over the weekend has put a $168 million lending position held by founder Michael Egorov at greater risk of liquidation. PLUS: The litecoin Foundation and Ballet tease a collectible card sale. Prices CoinDesk Market Index (CMI) 1,229 −8.3 ▼ 0.7% Bitcoin (BTC) $29,273 −195.9 ▼ 0.7% Ethereum (ETH) $1,861 −14.6 ▼ 0.8% S&P 500 4,588.96 +6.7 ▲ 0.1% Gold $2,001 +41.0 ▲ 2.1% Nikkei 225 33,172.22 +413.0 ▲ 1.3% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) CoinDesk Market Index (CMI) 1,229 −8.3 ▼ 0.7% Bitcoin (BTC) $29,273 −195.9 ▼ 0.7% Ethereum (ETH) $1,861 −14.6 ▼ 0.8% S&P 500 4,588.96 +6.7 ▲ 0.1% Gold $2,001 +41.0 ▲ 2.1% Nikkei 225 33,172.22 +413.0 ▲ 1.3% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Bitcoin, Ether Stable, CRV Slumps as Market Braces for Monster Liquidation As Asia begins its business day, crypto majors like bitcoin and ether are stable, but it\'s a sea of red elsewhere. Bitcoin is down 0.16% to $29,236, and ether is changing hands at $1,857, down 0.27%. eToro US Investment Analyst Callie Cox blames seasonality as a reason why the crypto majors aren’t moving. “The seasonal patterns we see show that bitcoin prices have been a little bit weaker in August and September,” Cox said on CoinDesk TV\'s "First Mover" program. “People are going off to the beach; they\'re not looking at their portfolios or trading their portfolios.” But elsewhere in the market, chaos is looming. CRV, the token attached to Curve Finance’s DAO, which recently suffered an exploit via a bug in the programming language used in its tech stack, is down 10.3% to 56 cents. Part of the reason why the market is reacting in such a way is because of a lending position held by founder Michael Egorov on lending protocol Aave. Story continues Egorov currently has a $168 million lending position on Aave secured by CRV, which is drifting toward liquidation. Should this be liquidated, the rapid price declines would cause a cascading series of liquidations, and the liquidated assets would flood the market. As such, lending protocol tokens like AAVE, Compound’s COMP, Maple Finance’s MPL, and Maker’s MKR are leading the market declines. AAVE is down 8%, while COMP has declined 8.8%, MPL is down 3.2%, and MKR 2%. Biggest Gainers Asset Ticker Returns DACS Sector Gala GALA +12.8% Entertainment XRP XRP +7.5% Currency Terra LUNA +4.2% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Stellar XLM −19.0% Smart Contract Platform Dogecoin DOGE −13.4% Currency Chainlink LINK −10.4% Computing Insights Curve Chaos Continues Chaos at Curve Finance has put a $168 million lending position held by founder Michael Egorov at greater risk of liquidation, an event that – if it happens – could have giant implications across decentralized finance (DeFi). Egorov has $168 million of CRV – Curve’s native token – securing loans from multiple DeFi protocols, data on blockchain analytics site DeBank shows. That equals almost 34% of the token’s total market capitalization . Following an exploit over the weekend at Curve, CRV’s price has sunk more than 20%, putting Egorov closer to levels where he’d get liquidated. Litecoin, Ballet\'s Silver Cards Litecoin is sometimes referred to as the “digital silver” to bitcoin’s reputation as “digital gold.” That reference appears to be the basis for a new crypto promotion by Litecoin creator Charlie Lee and his brother Bobby Lee, aiming to capitalize on a sudden surge in interest in the project, thanks to a quadrennial event in the blockchain’s lifecycle known as a “halving,” happening this week. Bobby Lee is CEO and co-founder of Ballet , a manufacturer of special cards used for “cold storage” or holding crypto offline. And he’s teamed up with his younger brother Charlie Lee, executive director of the Litecoin Foundation, to commemorate the blockchain’s third halving by creating 500 collectible cards made of 99.9% pure silver. The cards themselves – the silver alone – could carry a value of roughly $40 a card , but they would also be loaded with 6.25 LTC, or $581 worth. They are expected to be sold for about $1,000, which means the premium would roughly represent intangible value to buyers. All proceeds from the sale will be donated to the Litecoin Foundation to further the blockchain’s adoption and development, according to Charlie Lee. Important events. MicroStrategy Q2 Earnings 8:30 a.m. HKT/SGT(12:30 p.m. UTC): Jibun Bank Manufacturing PMI (July) 9:45 a.m. HKT/SGT(1:45 a.m. UTC): Caixin Manufacturing PMI (July) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Curve Finance Drained of $50M in Latest DeFi Exploit; Bitcoin Flirts With $29.5K More than $100 million worth of crypto could be at risk due to a bug impacting Curve, a stablecoin exchange at the center of Ethereum’s DeFi ecosystem. Ava Labs president John Wu weighed in on what this means for the state of the crypto industry, along with his thoughts on asset tokenization. eToro US investment analyst Callie Cox shared her outlook on bitcoin ahead of the July jobs report. And, DappRadar\'s Pedro Herrera discussed the future of decentralized social dapps. Headlines IRS: Crypto Staking Rewards Taxable Once Investor Gets Hands on Tokens: The latest tax guidance from the Internal Revenue Service outlines how and when staking rewards are taxed. Coinbase’s New Base Blockchain Gobbled Up $68M in Ether, and It’s Not Even Officially Live Yet: Meme coin BALD’s 4,000,000% surge seemed to spark the huge inflows to the nascent crypto bridge. After the Curve Attack: What\'s Next for DeFi?: The $70 million weekend exploit of major platforms, including Curve, come at a time when developers are discussing changes to the prevailing AMM liquidity model.', 'Good morning. Here’s what’s happening:\nPrices:Traders are taking aim at lending protocols following the attack on Curve\nInsights:Curve Finance chaos following its hack over the weekend has put a $168 million lending position held by founder Michael Egorov at greater risk of liquidation. PLUS: The litecoin Foundation and Ballet tease a collectible card sale.\nCoinDesk Market Index (CMI)\n1,229\n−8.3▼0.7%\nBitcoin (BTC)\n$29,273\n−195.9▼0.7%\nEthereum (ETH)\n$1,861\n−14.6▼0.8%\nS&P 500\n4,588.96\n+6.7▲0.1%\nGold\n$2,001\n+41.0▲2.1%\nNikkei 225\n33,172.22\n+413.0▲1.3%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,229", "\\u22128.3\\u25bc0.7%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,273", "\\u2212195.9\\u25bc0.7%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,861", "\\u221214.6\\u25bc0.8%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,588.96", "+6.7\\u25b20.1%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$2,001", "+41.0\\u25b22.1%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["33,172.22", "+413.0\\u25b21.3%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBitcoin, Ether Stable, CRV Slumps as Market Braces for Monster Liquidation\nAs Asia begins its business day, crypto majors like bitcoin and ether are stable, but it\'s a sea of red elsewhere.\nBitcoin is down 0.16% to $29,236, and ether is changing hands at $1,857, down 0.27%.\neToro US Investment Analyst Callie Cox blames seasonality as a reason why the crypto majors aren’t moving.\n“The seasonal patterns we see show that bitcoin prices have been a little bit weaker in August and September,” Cox said on CoinDesk TV\'s "First Mover" program. “People are going off to the beach; they\'re not looking at their portfolios or trading their portfolios.”\nBut elsewhere in the market, chaos is looming.\nCRV, the token attached to Curve Finance’s DAO,which recently suffered an exploitvia a bug in the programming language used in its tech stack, is down 10.3% to 56 cents.\nPart of the reason why the market is reacting in such a way is because of a lending position held by founder Michael Egorov on lending protocol Aave.\nEgorov currentlyhas a $168 million lending positionon Aave secured by CRV, which is drifting toward liquidation. Should this be liquidated, the rapid price declines would cause a cascading series of liquidations, and the liquidated assets would flood the market.\nAs such, lending protocol tokens like AAVE, Compound’s COMP, Maple Finance’s MPL, and Maker’s MKR are leading the market declines. AAVE is down 8%, while COMP has declined 8.8%, MPL is down 3.2%, and MKR 2%.\n[{"Asset": "Gala", "Ticker": "GALA", "Returns": "+12.8%", "DACS Sector": "Entertainment"}, {"Asset": "XRP", "Ticker": "XRP", "Returns": "+7.5%", "DACS Sector": "Currency"}, {"Asset": "Terra", "Ticker": "LUNA", "Returns": "+4.2%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221219.0%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u221213.4%", "DACS Sector": "Currency"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u221210.4%", "DACS Sector": "Computing"}]\nCurve Chaos Continues\nChaos at Curve Finance has put a $168 million lending position held by founder Michael Egorov at greater risk of liquidation, an event that – if it happens – could have giant implications across decentralized finance (DeFi). Egorov has $168 million of CRV – Curve’s native token – securing loans from multiple DeFi protocols, data on blockchain analytics siteDeBankshows. That equals almost34% of the token’s total market capitalization. Followingan exploitover the weekend at Curve, CRV’s price has sunk more than 20%, putting Egorov closer to levels where he’d get liquidated.\nLitecoin, Ballet\'s Silver Cards\nLitecoin is sometimes referred to as the “digital silver” to bitcoin’s reputation as “digital gold.” That reference appears to be the basis for a new crypto promotion by Litecoin creator Charlie Lee and his brother Bobby Lee, aiming to capitalize on a sudden surge in interest in the project, thanks to a quadrennial event in the blockchain’s lifecycle known as a “halving,” happening this week. Bobby Lee is CEO and co-founder ofBallet, a manufacturer of special cards used for “cold storage” or holding crypto offline. And he’s teamed up with his younger brother Charlie Lee, executive director of the Litecoin Foundation, to commemorate the blockchain’s third halving by creating 500 collectible cards made of 99.9% pure silver. The cards themselves – the silver alone – could carry a value ofroughly $40 a card, but they would also be loaded with 6.25 LTC, or $581 worth. They are expected to be sold for about $1,000, which means the premium would roughly represent intangible value to buyers. All proceeds from the sale will be donated to theLitecoin Foundationto further the blockchain’s adoption and development, according to Charlie Lee.\nMicroStrategy Q2 Earnings\n8:30 a.m. HKT/SGT(12:30 p.m. UTC):Jibun Bank Manufacturing PMI (July)\n9:45 a.m. HKT/SGT(1:45 a.m. UTC):Caixin Manufacturing PMI (July)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nCurve Finance Drained of $50M in Latest DeFi Exploit; Bitcoin Flirts With $29.5K\nMore than $100 million worth of crypto could be at risk due to a bug impacting Curve, a stablecoin exchange at the center of Ethereum’s DeFi ecosystem. Ava Labs president John Wu weighed in on what this means for the state of the crypto industry, along with his thoughts on asset tokenization. eToro US investment analyst Callie Cox shared her outlook on bitcoin ahead of the July jobs report. And, DappRadar\'s Pedro Herrera discussed the future of decentralized social dapps.\nIRS: Crypto Staking Rewards Taxable Once Investor Gets Hands on Tokens:The latest tax guidance from the Internal Revenue Service outlines how and when staking rewards are taxed.\nCoinbase’s New Base Blockchain Gobbled Up $68M in Ether, and It’s Not Even Officially Live Yet:Meme coin BALD’s 4,000,000% surge seemed to spark the huge inflows to the nascent crypto bridge.\nAfter the Curve Attack: What\'s Next for DeFi?:The $70 million weekend exploit of major platforms, including Curve, come at a time when developers are discussing changes to the prevailing AMM liquidity model.', 'Bitcoin and Ether prices fell in early Tuesday afternoon trading in Asia, with Bitcoin losing support at US$29,000, amid concern about the hack of the popular decentralized finance platform Curve Finance over the weekend that saw an estimated US$41 million stolen and raised concerns about a DeFi contagion. The hack has been linked to a flaw in a programming language. These concerns increased as reports surfaced on Tuesday of an attack on the LeetSwap exchange running on Coinbase. Solana and Matic led the top 10 losers mid Tuesday. Litecoin also gave up gains ahead of its halving event on Wednesday.\nBitcoin fell 1.8% in the last 24 hours to US$28,872 as of 12:50 p.m. in Hong Kong, according todatafrom CoinMarketCap.\nThe world’s largest cryptocurrency fell under the US$30,000 support floor in the latter weeks of July and has fluctuated around US$29,000 since then, unable to find buying support for a breakout in the so-called summer doldrums when trading in many capital markets slows.\nHowever, drama came over the weekend when decentralized stablecoin exchange Curve Financereporteda security issue in older versions of Vyper, the programming language used for smart contracts.\nAccording todatafrom smart contract auditing firm BlockSec, hackers drained an estimated US$41 million in cryptocurrencies from the platform as a result of the malfunction, raising concerns about possible problems at other DeFi platforms.\nCurve Finance is the third largest decentralized financial exchange (DEX) by 7-day trading volume, according to DeFi data trackerDefiLlama.\nBitcoin and Ether lost ground as CoinDeskreportedthat LeetSwap said its working with on-chain security experts to recover 340 Ether after PeckShield tweeted the exchange on Coinbase’s Layer 2 blockchain had been attacked.\nIn earlier comments related to the Curve hack, Justin d’Anethan at Hong Kong-based crypto market maker Keyrock said Bitcoin had held up well considering.\n“Indeed, after the Vyper hacks that affected a number of pools in Curve and pushed prices of CRV, CVX and FXS along with other yield protocols down, BTC and ETH held steady,” he said before reports of the LeetSwap exploit.\nLackluster trading and caution is seen elsewhere in crypto asset investment products, which saw minor outflows of US$21 million last week, 93% of which were from long-Bitcoin investment products, according to an emailed report from European alternative asset manager CoinShares.\n“This suggests investors have been taking profits in recent weeks, with the sentiment for the asset overall remaining supportive,” the CoinShares report said.\nNigel Green, the CEO and founder of the deVere investment advisory group, said summer typically ushers in reduced market activity, which in turn can create price inefficiencies and increased volatility.\n“When used effectively and efficiently, volatility can be an extremely powerful investment tool as you can enhance your portfolios with high quality assets at lower entry points,” Green said in email comments.\n“Not only does Bitcoin remain one of the best performing asset classes of the decade, I believe its performance will further strengthen. Both institutional and retail investors are increasingly seeing the value of a digital, global, borderless and tamper-proof currency and store of value.\n“This trend will increase as adoption picks up further and as confidence grows again in the global economy.”\nEther, the second largest crypto token by market cap, fell 2.10% to US$1,825 early Tuesday afternoon after trading flat in the morning.\nAll other top 10 non-stablecoin cryptocurrencies fell Tuesday morning. Solana led the losers, dipping 4.6% to US$23.31, while Matic was close behind with a drop of 4.1% to US$0.67.\nLitecoin fell 3.5% to US$89.83, barely holding a gain of 1% for the last week ahead of itshalving eventon Wednesday.\nThe halving isexpected tocut the mining reward for each successfully minted Litecoin block from 12.50 LTC to 6.25 LTC, increasing its scarcity and potentially triggering a rise in the token’s price. Litecoin is up about 31% year to date.\nThe total crypto market capitalization fell 1.8% in the past 24 hours to US$1.16 trillion, while trading volume rose 17.6% to US$30.83 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe Forkast 500 NFT index fell 1.19% in the past 24 hours to 2,516.20 as of 7:45 a.m. in Hong Kong, resulting in a drop of 5.37% for the week and 10.70% for the month.\nForkast’s Ethereum, Solana and Cardano NFT market indexes all logged losses, while the index measuring the performance of Polygon’s NFT market edged up a slight 0.18%.\nTotal NFT trading volume fell 2.93% in the past 24 hours to US$17.65 million, according to data fromCryptoSlam. Volume on Ethereum, the largest NFT network, declined 10.17% to US$11.68 million.\nTrading volumes on Polygon jumped 87.67% to US$1.14 million to take second spot in Cryptoslam’s rankings. Solana and BNB networks also saw increases in NFT volumes.\nNFT trading volume on the Bitcoin network dropped 20.08% to US$479,775. “An ecosystem that many, myself included, had predicted to one day flip Ethereum is showing its limitations,” said Yehudah Petscher, NFT Strategist at Forkast Labs.\n“With no avenues right now for utility, traders are finding few reasons to collect these assets that promise nothing more than small jpegs to collect. We’ll need to see some innovation or more premium art on Bitcoin if we want to see its ecosystem turn around.”\nBy NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volume, gaining 26.26% to US$1.12 million. DMarket and Gods Unchained Cards, which are both in-game NFT items, ranked second and third.\nU.S. stock futures gained as of 10:50 a.m. in Hong Kong, after the three major U.S. stock indexes ended July with strong gains of between 3% to 4%.\nIn Asia, the main stock indexes rose on Tuesday morning, with the exception of China’s Shanghai Composite after manufacturing data missed expectations. Private research firm Caixin Insight Group’s China General Manufacturing PMI for July released Tuesday dropped for the first time since April, missing market estimates and hitting its lowest point in six months.\n“China’s economic recovery in the first quarter exceeded expectations, but the momentum weakened in the second,”wroteWang Zhe, senior economist at Caixin. “Although the data for industrial production and investment in June showed some signs of recovery, macroeconomic growth remained sluggish, and considerable downward pressure on the economy persisted.”\nZhe added: “guaranteeing employment, stabilizing expectations and increasing household income” should remain the top priorities of Chinese policymakers.\nJapan’s Nikkei 225 gained as the country’sunemployment rateedged lower in June as forecasted, marking the country’s lowest jobless rate since January.\nIn the U.S., second quarter earnings season continues with reports from Apple, Amazon, Pfizer and others through the week, plus more economic indicators. The S&P Global’s U.S. manufacturing purchasing manager’s index (PMI) will be out Tuesday and the July employment report on Friday.\nOn interest rates, the Federal Reserve next meets on Sept. 19 and 20 after raising a quarter of a point in July. Rates are now between 5.25% to 5.50%, the highest since January 2001.\nFed Chair Jerome Powell last week reiterated the bank takes a data-driven approach to decide interest rate policy and Fed economists said the likelihood of a recession in the U.S. has diminished, indicating to some analysts the Fed may leave rates unchanged next month.\nThe CME FedWatch Tool predicts a 82.5% chance the Fed will keep rates as is in September, and a 17.5% chance for another 25-basis-point increase.\n(Updates with equity section)', 'Bitcoin and Ether prices fell in early Tuesday afternoon trading in Asia, with Bitcoin losing support at US$29,000, amid concern about the hack of the popular decentralized finance platform Curve Finance over the weekend that saw an estimated US$41 million stolen and raised concerns about a DeFi contagion. The hack has been linked to a flaw in a programming language. These concerns increased as reports surfaced on Tuesday of an attack on the LeetSwap exchange running on Coinbase. Solana and Matic led the top 10 losers mid Tuesday. Litecoin also gave up gains ahead of its halving event on Wednesday. Bitcoin, Ether hold steady Bitcoin fell 1.8% in the last 24 hours to US$28,872 as of 12:50 p.m. in Hong Kong, according to data from CoinMarketCap. The world’s largest cryptocurrency fell under the US$30,000 support floor in the latter weeks of July and has fluctuated around US$29,000 since then, unable to find buying support for a breakout in the so-called summer doldrums when trading in many capital markets slows. However, drama came over the weekend when decentralized stablecoin exchange Curve Finance reported a security issue in older versions of Vyper, the programming language used for smart contracts. According to data from smart contract auditing firm BlockSec, hackers drained an estimated US$41 million in cryptocurrencies from the platform as a result of the malfunction, raising concerns about possible problems at other DeFi platforms. Curve Finance is the third largest decentralized financial exchange (DEX) by 7-day trading volume, according to DeFi data tracker DefiLlama . Bitcoin and Ether lost ground as CoinDesk reported that LeetSwap said its working with on-chain security experts to recover 340 Ether after PeckShield tweeted the exchange on Coinbase’s Layer 2 blockchain had been attacked. In earlier comments related to the Curve hack, Justin d’Anethan at Hong Kong-based crypto market maker Keyrock said Bitcoin had held up well considering. Story continues “Indeed, after the Vyper hacks that affected a number of pools in Curve and pushed prices of CRV, CVX and FXS along with other yield protocols down, BTC and ETH held steady,” he said before reports of the LeetSwap exploit. Lackluster trading and caution is seen elsewhere in crypto asset investment products, which saw minor outflows of US$21 million last week, 93% of which were from long-Bitcoin investment products, according to an emailed report from European alternative asset manager CoinShares. “This suggests investors have been taking profits in recent weeks, with the sentiment for the asset overall remaining supportive,” the CoinShares report said. Nigel Green, the CEO and founder of the deVere investment advisory group, said summer typically ushers in reduced market activity, which in turn can create price inefficiencies and increased volatility. “When used effectively and efficiently, volatility can be an extremely powerful investment tool as you can enhance your portfolios with high quality assets at lower entry points,” Green said in email comments. “Not only does Bitcoin remain one of the best performing asset classes of the decade, I believe its performance will further strengthen. Both institutional and retail investors are increasingly seeing the value of a digital, global, borderless and tamper-proof currency and store of value. “This trend will increase as adoption picks up further and as confidence grows again in the global economy.” Ether, the second largest crypto token by market cap, fell 2.10% to US$1,825 early Tuesday afternoon after trading flat in the morning. All other top 10 non-stablecoin cryptocurrencies fell Tuesday morning. Solana led the losers, dipping 4.6% to US$23.31, while Matic was close behind with a drop of 4.1% to US$0.67. Litecoin fell 3.5% to US$89.83, barely holding a gain of 1% for the last week ahead of its halving event on Wednesday. The halving is expected to cut the mining reward for each successfully minted Litecoin block from 12.50 LTC to 6.25 LTC, increasing its scarcity and potentially triggering a rise in the token’s price. Litecoin is up about 31% year to date. The total crypto market capitalization fell 1.8% in the past 24 hours to US$1.16 trillion, while trading volume rose 17.6% to US$30.83 billion. NFT 500 ends July in red The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index fell 1.19% in the past 24 hours to 2,516.20 as of 7:45 a.m. in Hong Kong, resulting in a drop of 5.37% for the week and 10.70% for the month. Forkast’s Ethereum, Solana and Cardano NFT market indexes all logged losses, while the index measuring the performance of Polygon’s NFT market edged up a slight 0.18%. Total NFT trading volume fell 2.93% in the past 24 hours to US$17.65 million, according to data from CryptoSlam . Volume on Ethereum, the largest NFT network, declined 10.17% to US$11.68 million. Trading volumes on Polygon jumped 87.67% to US$1.14 million to take second spot in Cryptoslam’s rankings. Solana and BNB networks also saw increases in NFT volumes. NFT trading volume on the Bitcoin network dropped 20.08% to US$479,775. “An ecosystem that many, myself included, had predicted to one day flip Ethereum is showing its limitations,” said Yehudah Petscher, NFT Strategist at Forkast Labs. “With no avenues right now for utility, traders are finding few reasons to collect these assets that promise nothing more than small jpegs to collect. We’ll need to see some innovation or more premium art on Bitcoin if we want to see its ecosystem turn around.” By NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volume, gaining 26.26% to US$1.12 million. DMarket and Gods Unchained Cards, which are both in-game NFT items, ranked second and third. U.S. equities finish July strong Image: Getty Images U.S. stock futures gained as of 10:50 a.m. in Hong Kong, after the three major U.S. stock indexes ended July with strong gains of between 3% to 4%. In Asia, the main stock indexes rose on Tuesday morning, with the exception of China’s Shanghai Composite after manufacturing data missed expectations. Private research firm Caixin Insight Group’s China General Manufacturing PMI for July released Tuesday dropped for the first time since April, missing market estimates and hitting its lowest point in six months. “China’s economic recovery in the first quarter exceeded expectations, but the momentum weakened in the second,” wrote Wang Zhe, senior economist at Caixin. “Although the data for industrial production and investment in June showed some signs of recovery, macroeconomic growth remained sluggish, and considerable downward pressure on the economy persisted.” Zhe added: “guaranteeing employment, stabilizing expectations and increasing household income” should remain the top priorities of Chinese policymakers. Japan’s Nikkei 225 gained as the country’s unemployment rate edged lower in June as forecasted, marking the country’s lowest jobless rate since January. In the U.S., second quarter earnings season continues with reports from Apple, Amazon, Pfizer and others through the week, plus more economic indicators. The S&P Global’s U.S. manufacturing purchasing manager’s index (PMI) will be out Tuesday and the July employment report on Friday. On interest rates, the Federal Reserve next meets on Sept. 19 and 20 after raising a quarter of a point in July. Rates are now between 5.25% to 5.50%, the highest since January 2001. Fed Chair Jerome Powell last week reiterated the bank takes a data-driven approach to decide interest rate policy and Fed economists said the likelihood of a recession in the U.S. has diminished, indicating to some analysts the Fed may leave rates unchanged next month. The CME FedWatch Tool predicts a 82.5% chance the Fed will keep rates as is in September, and a 17.5% chance for another 25-basis-point increase. (Updates with equity section)', 'Bitcoin and Ether prices fell in early Tuesday afternoon trading in Asia, with Bitcoin losing support at US$29,000, amid concern about the hack of the popular decentralized finance platform Curve Finance over the weekend that saw an estimated US$41 million stolen and raised concerns about a DeFi contagion. The hack has been linked to a flaw in a programming language. These concerns increased as reports surfaced on Tuesday of an attack on the LeetSwap exchange running on Coinbase. Solana and Matic led the top 10 losers mid Tuesday. Litecoin also gave up gains ahead of its halving event on Wednesday.\nBitcoin fell 1.8% in the last 24 hours to US$28,872 as of 12:50 p.m. in Hong Kong, according todatafrom CoinMarketCap.\nThe world’s largest cryptocurrency fell under the US$30,000 support floor in the latter weeks of July and has fluctuated around US$29,000 since then, unable to find buying support for a breakout in the so-called summer doldrums when trading in many capital markets slows.\nHowever, drama came over the weekend when decentralized stablecoin exchange Curve Financereporteda security issue in older versions of Vyper, the programming language used for smart contracts.\nAccording todatafrom smart contract auditing firm BlockSec, hackers drained an estimated US$41 million in cryptocurrencies from the platform as a result of the malfunction, raising concerns about possible problems at other DeFi platforms.\nCurve Finance is the third largest decentralized financial exchange (DEX) by 7-day trading volume, according to DeFi data trackerDefiLlama.\nBitcoin and Ether lost ground as CoinDeskreportedthat LeetSwap said its working with on-chain security experts to recover 340 Ether after PeckShield tweeted the exchange on Coinbase’s Layer 2 blockchain had been attacked.\nIn earlier comments related to the Curve hack, Justin d’Anethan at Hong Kong-based crypto market maker Keyrock said Bitcoin had held up well considering.\n“Indeed, after the Vyper hacks that affected a number of pools in Curve and pushed prices of CRV, CVX and FXS along with other yield protocols down, BTC and ETH held steady,” he said before reports of the LeetSwap exploit.\nLackluster trading and caution is seen elsewhere in crypto asset investment products, which saw minor outflows of US$21 million last week, 93% of which were from long-Bitcoin investment products, according to an emailed report from European alternative asset manager CoinShares.\n“This suggests investors have been taking profits in recent weeks, with the sentiment for the asset overall remaining supportive,” the CoinShares report said.\nNigel Green, the CEO and founder of the deVere investment advisory group, said summer typically ushers in reduced market activity, which in turn can create price inefficiencies and increased volatility.\n“When used effectively and efficiently, volatility can be an extremely powerful investment tool as you can enhance your portfolios with high quality assets at lower entry points,” Green said in email comments.\n“Not only does Bitcoin remain one of the best performing asset classes of the decade, I believe its performance will further strengthen. Both institutional and retail investors are increasingly seeing the value of a digital, global, borderless and tamper-proof currency and store of value.\n“This trend will increase as adoption picks up further and as confidence grows again in the global economy.”\nEther, the second largest crypto token by market cap, fell 2.10% to US$1,825 early Tuesday afternoon after trading flat in the morning.\nAll other top 10 non-stablecoin cryptocurrencies fell Tuesday morning. Solana led the losers, dipping 4.6% to US$23.31, while Matic was close behind with a drop of 4.1% to US$0.67.\nLitecoin fell 3.5% to US$89.83, barely holding a gain of 1% for the last week ahead of itshalving eventon Wednesday.\nThe halving isexpected tocut the mining reward for each successfully minted Litecoin block from 12.50 LTC to 6.25 LTC, increasing its scarcity and potentially triggering a rise in the token’s price. Litecoin is up about 31% year to date.\nThe total crypto market capitalization fell 1.8% in the past 24 hours to US$1.16 trillion, while trading volume rose 17.6% to US$30.83 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe Forkast 500 NFT index fell 1.19% in the past 24 hours to 2,516.20 as of 7:45 a.m. in Hong Kong, resulting in a drop of 5.37% for the week and 10.70% for the month.\nForkast’s Ethereum, Solana and Cardano NFT market indexes all logged losses, while the index measuring the performance of Polygon’s NFT market edged up a slight 0.18%.\nTotal NFT trading volume fell 2.93% in the past 24 hours to US$17.65 million, according to data fromCryptoSlam. Volume on Ethereum, the largest NFT network, declined 10.17% to US$11.68 million.\nTrading volumes on Polygon jumped 87.67% to US$1.14 million to take second spot in Cryptoslam’s rankings. Solana and BNB networks also saw increases in NFT volumes.\nNFT trading volume on the Bitcoin network dropped 20.08% to US$479,775. “An ecosystem that many, myself included, had predicted to one day flip Ethereum is showing its limitations,” said Yehudah Petscher, NFT Strategist at Forkast Labs.\n“With no avenues right now for utility, traders are finding few reasons to collect these assets that promise nothing more than small jpegs to collect. We’ll need to see some innovation or more premium art on Bitcoin if we want to see its ecosystem turn around.”\nBy NFT collections, Ethereum-based Bored Ape Yacht Club (BAYC) saw the largest 24-hour trading volume, gaining 26.26% to US$1.12 million. DMarket and Gods Unchained Cards, which are both in-game NFT items, ranked second and third.\nU.S. stock futures gained as of 10:50 a.m. in Hong Kong, after the three major U.S. stock indexes ended July with strong gains of between 3% to 4%.\nIn Asia, the main stock indexes rose on Tuesday morning, with the exception of China’s Shanghai Composite after manufacturing data missed expectations. Private research firm Caixin Insight Group’s China General Manufacturing PMI for July released Tuesday dropped for the first time since April, missing market estimates and hitting its lowest point in six months.\n“China’s economic recovery in the first quarter exceeded expectations, but the momentum weakened in the second,”wroteWang Zhe, senior economist at Caixin. “Although the data for industrial production and investment in June showed some signs of recovery, macroeconomic growth remained sluggish, and considerable downward pressure on the economy persisted.”\nZhe added: “guaranteeing employment, stabilizing expectations and increasing household income” should remain the top priorities of Chinese policymakers.\nJapan’s Nikkei 225 gained as the country’sunemployment rateedged lower in June as forecasted, marking the country’s lowest jobless rate since January.\nIn the U.S., second quarter earnings season continues with reports from Apple, Amazon, Pfizer and others through the week, plus more economic indicators. The S&P Global’s U.S. manufacturing purchasing manager’s index (PMI) will be out Tuesday and the July employment report on Friday.\nOn interest rates, the Federal Reserve next meets on Sept. 19 and 20 after raising a quarter of a point in July. Rates are now between 5.25% to 5.50%, the highest since January 2001.\nFed Chair Jerome Powell last week reiterated the bank takes a data-driven approach to decide interest rate policy and Fed economists said the likelihood of a recession in the U.S. has diminished, indicating to some analysts the Fed may leave rates unchanged next month.\nThe CME FedWatch Tool predicts a 82.5% chance the Fed will keep rates as is in September, and a 17.5% chance for another 25-basis-point increase.\n(Updates with equity section)', 'On Monday, the Securities and Exchange Commission (SEC) filed a lawsuit against Richard Schueler, known in crypto circles as Richard Heart, and his startups Hex, Pulsechain, and Pulsex. The lawsuit alleges that Heart conducted multiple unregistered securities offerings, raising more than $1 billion in total. Instead of fulfilling his company’s development or marketing obligations, “Heart and PulseChain used at least $12.1 million of investor funds for Heart’s personal luxury purchases, including a 555-carat diamond, expensive watches, and high-end automobiles,” said the SEC filing . Unregistered Securities The SEC alleges that Heart and Pulsechain violated the antifraud provisions of federal securities laws. Heart is said to have enticed investors who bought HEX tokens between December 2019 and November 2020 by claiming Hex was “the first high-yield ‘Blockchain Certificate of Deposit.’” Investors were drawn in with incentives and bonuses including a staking program that advertised a 38% annual return in HEX on staked HEX tokens, according to the complaint. The filing goes on to allege that a majority of the 2.3 million (ETH) raised, worth $678M at the time, comprised of “‘recycling’ transactions directed by Heart or other insiders, which enabled Heart and others to gain control of a large number of Hex tokens, while creating the false impression of significant trading volume and organic demand for Hex tokens.” In addition, from July 2021 to April 2022 Heart is said to have raised over $676M in connection with unregistered offerings related to PulseChain’s PLS token, and PulseX’s PLSX token, said the SEC filing. img,[object Object] Heart is accused of having misappropriated investor funds to fuel a shopping spree, buying top tier-sports cars, a 555-carat diamond , and luxury timepieces. SEC Alleges Richard Heart Used Investor Funds To Fuel Shopping Spree An address that isn’t explicitly named in the complaint but matches transactions mentioned in the suit against Heart holds just over $35M in DAI stablecoins and has sent $26.8M through the Tornado Cash mixer, according to Arkham Intelligence data. Story continues ‘A Long Time Coming’ Steven Lubka, Head of Swan Private at Swan Bitcoin, observed that Hex appeared to have characteristics more akin to a Ponzi scheme than a crypto platform based on speculative on-chain asset trading like Uniswap or meme-powered cryptocurrencies like Dogecoin. “To players in the know, this was a long time coming. HEX was always primarily invested in, not by cryptocurrency investors, but by average people who had little knowledge or exposure to the broader industry,” Lubka told The Defiant. “Hex branded itself as a certificate of deposit, but one which would deliver eye-popping returns. The founder, Richard Heart, flagrantly promoted it, and himself, donning luxury goods, expensive watches, and expensive sports cars,” said Lubka.', 'On Monday, the Securities and Exchange Commission (SEC) filed a lawsuit against Richard Schueler, known in crypto circles as Richard Heart, and his startups Hex, Pulsechain, and Pulsex.\nThe lawsuit alleges that Heart conducted multiple unregistered securities offerings, raising more than $1 billion in total.\nInstead of fulfilling his company’s development or marketing obligations, “Heart and PulseChain used at least $12.1 million of investor funds for Heart’s personal luxury purchases, including a 555-carat diamond, expensive watches, and high-end automobiles,” said the SECfiling.\nThe SEC alleges that Heart and Pulsechain violated the antifraud provisions of federal securities laws.\nHeart is said to have enticed investors who bought HEX tokens between December 2019 and November 2020 by claiming Hex was “the first high-yield ‘Blockchain Certificate of Deposit.’” Investors were drawn in with incentives and bonuses including a staking program that advertised a 38% annual return in HEX on staked HEX tokens, according to the complaint.\nThe filing goes on to allege that a majority of the 2.3 million (ETH) raised, worth $678M at the time, comprised of “‘recycling’ transactions directed by Heart or other insiders, which enabled Heart and others to gain control of a large number of Hex tokens, while creating the false impression of significant trading volume and organic demand for Hex tokens.”\nIn addition, from July 2021 to April 2022 Heart is said to have raised over $676M in connection with unregistered offerings related to PulseChain’s PLS token, and PulseX’s PLSX token, said the SEC filing.\nimg,[object Object]\nHeart is accused of having misappropriated investor funds to fuel a shopping spree, buying top tier-sports cars, a555-carat diamond, and luxury timepieces.\nAn address that isn’t explicitly named in the complaint but matches transactions mentioned in the suit against Heart holds just over $35M in DAI stablecoins and has sent $26.8M through the Tornado Cash mixer, according toArkham Intelligencedata.\nSteven Lubka, Head of Swan Private at Swan Bitcoin, observed that Hex appeared to have characteristics more akin to a Ponzi scheme than a crypto platform based on speculative on-chain asset trading like Uniswap or meme-powered cryptocurrencies like Dogecoin.\n“To players in the know, this was a long time coming. HEX was always primarily invested in, not by cryptocurrency investors, but by average people who had little knowledge or exposure to the broader industry,” Lubka told The Defiant.\n“Hex branded itself as a certificate of deposit, but one which would deliver eye-popping returns. The founder, Richard Heart, flagrantly promoted it, and himself, donning luxury goods, expensive watches, and expensive sports cars,” said Lubka.', 'Jason DeCrow/ASSOCIATED PRESS US stocks rallied at Monday\'s close, wrapping up a month of strong gains. That\'s as July saw inflation cool past expectations, as well as strong earnings. Investors can gear up for Apple and Amazon to release their reports on Thursday. US stocks rallied late to end higher, concluding a month of strong gains driven by better-than-expected inflation trends and a robust earnings season so far. After trading mixed or lower heading into the closing bell, the major indexes reversed up at the last minute. For the month, the Dow Jones Industrial Average climbed 3.3%. Meanwhile, the Nasdaq Composite rose 4%, and the S&P 500 gained 3.1%, as both notched their fifth consecutive monthly advance. Looking further into this week, shareholders can expect more earnings releases, with Apple and Amazon set to publish their reports on Thursday. Additionally, monthly payroll data will be released on Friday by the Labor Department, providing a better guideline as to whether the US economy is headed for a soft landing. Here\'s where US indexes stood 4:00 a.m. ET closing bell on Monday: S&P 500 : 4,588.96, up 0.15% Dow Jones Industrial Average : 35,559.53, up 0.28% (100.24 points) Nasdaq Composite : 14,346.02, up 0.21% Here\'s what else is happening this morning: As a majority of Americans are still locked into lower rates , few have not been hit by the Federal Reserve\'s hiking cycle. Coinbase CEO Brian Armstrong said regulators
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-01
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $563,720,029,344
- Hash Rate: 361574375.7692712
- Transaction Count: 412219.0
- Unique Addresses: 734323.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.53
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: A blockchain developer has reverse-engineered the code behind the Brazilian Central Bank Digital Currency (CBDC) and discovered an unsettling feature: the government has built in the ability to freeze funds and adjust balances. Pedro Magalhaes , founder of Web3 consulting company Iora Labs , reviewed the Application Programming Interface published by the monetary authority on its Github account. And he says the government has not been forthcoming with an explanation. They tend to keep things closed off and usually dont communicate with non-bankers," he told Decrypt , although he said he has had some general discussions on Github about the CBDC implementation. Honestly, they dont even need to care about public opinion. Vini Barbosa , reporter for Brazilian crypto news outlet Portal Do Bitcoin , took to social media to claim thathe spoke to the Brazilian authorities and confirmed Magalhaes findings. The ability to 'freeze or arrest amounts' held in [this system] is protected by current legislation in Brazil, according to the Central Bank," Barbosa tweeted . Brazilian banking authorities did not respond to a request for comment from Decrypt . Magalhaes, who first published the discovery on his LinkedIn profile for educational purposes, first thought the function would only refer to DeFi or CeFi, where it may be necessary to freeze the balances to complete a smart contract operationbut said the official response was that the central bank can do it any time it wants. Brazilians are scared, he said, due to the nation's financial history. In the 1990s, the countrys president froze finances for all Brazilians for 18 months. Magalhaes said the the only way to fight the central bank's excessive control over CBDC is to report it on social media. They will try hard to adopt it, and they have the power to do it," the expert in Ethereum s Solidity programming language told Decrypt . "As a blockchain developer, the only thing I've been asking for is: please, provide public smart contracts and let Brazilians know what the Central Bank is doing. View comments...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["MicroStrategy, the software developer that’s amassed a giant bitcoin (BTC) stash in recent years, may raise up to $750 million by selling more stock and plans to use the proceeds to buy more bitcoin, among other things. The announcement was made in a U.S. Securities and Exchange Commission filing late Tuesday. Bitcoin’s price rose noticeably in the aftermath, approaching $29,800 from around $29,200. (CoinDesk) Chairman Michael Saylor has gotten MicroStrategy heavily involved with bitcoin, buying billions of dollars worth since the pandemic. And he’s raised money to do so the old-fashioned way: selling more of the publicly traded company’s equity and bonds. This adds to that strategy. Read more: Michael Saylor Lost Big in the Dot-Com Bubble and Bitcoin’s Crash. Now He Aims to Rebound Again The company owned 152,800 bitcoin as of July 31 , which are now worth about $4.5 billion. “We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital, and, subject to market conditions,” already issued bonds, according to MicroStrategy’s Tuesday filing. UPDATE (Aug. 2, 2023, 00:21 UTC): Updates BTC's price. View comments", "MicroStrategy, the software developer that’s amassed a giant bitcoin (BTC) stash in recent years, may raise up to $750 million by selling more stock and plans to use the proceeds to buy more bitcoin, among other things.\nThe announcement was made in a U.S. Securities and Exchange Commissionfilinglate Tuesday.Bitcoin’s pricerose noticeably in the aftermath, approaching $29,800 from around $29,200.\nChairman Michael Saylor has gotten MicroStrategy heavily involved with bitcoin, buying billions of dollars worth since the pandemic. And he’s raised money to do so the old-fashioned way: selling more of the publicly traded company’s equity and bonds. This adds to that strategy.\nRead more:Michael Saylor Lost Big in the Dot-Com Bubble and Bitcoin’s Crash. Now He Aims to Rebound Again\nThe company owned152,800 bitcoin as of July 31, which are now worth about $4.5 billion.\n“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital, and, subject to market conditions,” already issued bonds, according to MicroStrategy’s Tuesday filing.\nUPDATE (Aug. 2, 2023, 00:21 UTC):Updates BTC's price.", "MicroStrategy, the software developer that’s amassed a giant bitcoin (BTC) stash in recent years, may raise up to $750 million by selling more stock and plans to use the proceeds to buy more bitcoin, among other things.\nThe announcement was made in a U.S. Securities and Exchange Commissionfilinglate Tuesday.Bitcoin’s pricerose noticeably in the aftermath, approaching $29,800 from around $29,200.\nChairman Michael Saylor has gotten MicroStrategy heavily involved with bitcoin, buying billions of dollars worth since the pandemic. And he’s raised money to do so the old-fashioned way: selling more of the publicly traded company’s equity and bonds. This adds to that strategy.\nRead more:Michael Saylor Lost Big in the Dot-Com Bubble and Bitcoin’s Crash. Now He Aims to Rebound Again\nThe company owned152,800 bitcoin as of July 31, which are now worth about $4.5 billion.\n“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital, and, subject to market conditions,” already issued bonds, according to MicroStrategy’s Tuesday filing.\nUPDATE (Aug. 2, 2023, 00:21 UTC):Updates BTC's price.", 'What a week in non-fungible tokens! No, you didn\x92t miss a major happening or a hot mint, but there\x92s actually something to be excited about. The market and news are still very slow, with little trading volume, and tumbling sales. What\x92s significant in this week\x92s market is a smorgasbord of NFT offerings with actual utility that\x92s often overshadowed during hype cycles. Counter-Strike: Go skins from DMarket, gaming NFT cards from Gods Unchained, Sotheby\x92s new generative art platform launch, fantasy sports NFTs from Sorare, and an innovative Watch2Earn program backed by NFTs all showcase how diverse NFTs have become, and how much growth the industry has witnessed in just a few years. These NFTs span blockchains, with Mythos Chain, ImmutableX, Ethereum, and Binance, and importantly show how NFTs have large bases of collectors outside of Ethereum. NFTs are growing, and while it\x92s hard to see in the moment when we\x92re sometimes so fixated on prices, I implore you to zoom out and see how far NFTs have come. It\x92s an exciting time for NFTs and one that\x92s worth your attention, especially in this major bear market. The market itself is struggling as you would imagine. The CyberKongz Genkai mint couldn\x92t sell out 9,000 NFTs on Ethereum , so the mint instead was slashed to 3,000. The remaining NFTs were given as free bonus NFTs to anyone who purchased a Genkai. The Ronin side however sold out of their 3,000 NFTs in under an hour, showing that there are pockets of the ecosystem that still are hungry to collect Bitcoin\x92s Ordinals are having a hard time finding buyers in this market, and can\x92t even crack the top five in the blockchain rankings. The blockchain itself, once firmly in the second spot in the rankings, now has fallen to seventh with just US$4.2 million in secondary sales for the week. The limitations of Bitcoin have become a hindrance to growth. Without utility or high-end art, collectors have no little reason to trade on Bitcoin when they could be trading $BTC itself. However, ordinals saw a record-high 442,000 ordinals minted in a single day recently. Even if traders aren\x92t willing to collect ordinals on secondary, they\x92re still very active in the ecosystem itself. Story continues Total sales for July reached just US$493 million , the lowest since June 2021 when global sales were US$404 million. While the market was down from last week, it remained close to last week\x92s totals, maybe reflecting some incoming stability. Expect more of the same action for the foreseeable future, though the space can pivot at any moment on news or hype. Weekly Global NFT stats table Let\x92s take a look at what was moving the markets this week. Peep the Charts NFT collection rankings 8.2 DMarket has rocked this week with over US$5.2 million in sales from CS:GO, TF2, and other skins from some of the world\x92s biggest video games. Gods Unchained also has been hot with US$4.8 million in sales as gamers discover the deep gameplay on ImmutableX\x92s majorly popular NFT game. Sothebys \x92 new generative art platform saw its first release with an NFT drop from Vera Molnar. The auction sold at around 1 ETH, and secondary markets pushed the collections floor price to around 5 ETH. PLAYNFT gives Binance a position on the top collection rankings with US$1.7 million in sales. Their innovative Watch2Earn platform for content creators and their fans shows a unique use case for NFTs. Blockchains by NFT sales volume Ethereum\x92s sales reflect an 18% increase, up to US$9 million, but July\x92s US$271 million in sales is the lowest month of sales since June 2021. Binance is rocking into the third position with US$6 million in sales behind AIWorld Nodes and PLAYNFTs. Polygon\x92s news that the Palm blockchain will migrate to Polygon has yet to reflect in volume, with US$5 million in sales. Mythos and ImmutableX take the fifth and sixth spots, showing that gaming NFTs can compete all on their own with the other major blockchains. Bitcoin has fallen to the seventh spot, struggling to cross US$5 million in sales for the week. Noteworthy Happenings CryptoDickButts , one of the ultimate meme NFT collections to come from 2021 will be turning the project over to the biggest holder of their new series of four NFTs. The winner will get control over the official Twitter, Discord, and multi-signature wallet. MemeWhales did $1.1m in trading volume behind their trading bot that collectors can purchase access to via NFT. AIWorld Nodes on Binance allows collectors to purchase nodes that will power the AI platforms ecosystem. Holders can expect rewards through the platform\x92s currency, and more as they seemingly become validators. PROOF announced Grails series IV, which will see a new collection of art arrive from 20 as of yet unnamed artists. Previous artists include Deafbeef, Tyler Hobbs, Claire Silver, Matt Kane, Zancan, and other legends of NFT art. Expect this to be a major event that will use the Art Blocks Engine for the mint. The Palm blockchain along with their big brand NFTs like MLB, Netflix, NASCAR, and more are joining Polygon\x92s new 2.0 ecosystem.', 'What a week in non-fungible tokens! No, you didn’t miss a major happening or a hot mint, but there’s actually something to be excited about. The market and news are still very slow, with little trading volume, and tumbling sales. What’s significant in this week’s market is a smorgasbord of NFT offerings with actual utility that’s often overshadowed during hype cycles.\nCounter-Strike: Go skins from DMarket, gaming NFT cards from Gods Unchained, Sotheby’s new generative art platform launch, fantasy sports NFTs from Sorare, and an innovative Watch2Earn program backed by NFTs all showcase how diverse NFTs have become, and how much growth the industry has witnessed in just a few years. These NFTs span blockchains, with Mythos Chain, ImmutableX, Ethereum, and Binance, and importantly show how NFTs have large bases of collectors outside of Ethereum.\nNFTs are growing, and while it’s hard to see in the moment when we’re sometimes so fixated on prices, I implore you to zoom out and see how far NFTs have come. It’s an exciting time for NFTs and one that’s worth your attention, especially in this major bear market.\nThe market itself is struggling as you would imagine. The CyberKongz Genkai mint couldn’t sell out 9,000 NFTs onEthereum, so the mint instead was slashed to 3,000. The remaining NFTs were given as free bonus NFTs to anyone who purchased a Genkai. TheRoninside however sold out of their 3,000 NFTs in under an hour, showing that there are pockets of the ecosystem that still are hungry to collect\nBitcoin’sOrdinalsare having a hard time finding buyers in this market, and can’t even crack the top five in the blockchain rankings. The blockchain itself, once firmly in the second spot in the rankings, now has fallen to seventh with just US$4.2 million in secondary sales for the week.\nThe limitations of Bitcoin have become a hindrance to growth. Without utility or high-end art, collectors have no little reason to trade on Bitcoin when they could be trading $BTC itself. However, ordinals saw a record-high 442,000 ordinals minted in a single day recently. Even if traders aren’t willing to collect ordinals on secondary, they’re still very active in the ecosystem itself.\nTotal sales for July reached justUS$493 million, the lowest since June 2021 when global sales were US$404 million. While the market was down from last week, it remained close to last week’s totals, maybe reflecting some incoming stability. Expect more of the same action for the foreseeable future, though the space can pivot at any moment on news or hype.\nLet’s take a look at what was moving the markets this week.\n• DMarkethas rocked this week with over US$5.2 million in sales from CS:GO, TF2, and other skins from some of the world’s biggest video games.\n• Gods Unchainedalso has been hot with US$4.8 million in sales as gamers discover the deep gameplay on ImmutableX’s majorly popular NFT game.\n• Sothebys’new generative art platform saw its first release with an NFT drop from Vera Molnar. The auction sold at around 1 ETH, and secondary markets pushed the collections floor price to around 5 ETH.\n• PLAYNFTgives Binance a position on the top collection rankings with US$1.7 million in sales. Their innovative Watch2Earn platform for content creators and their fans shows a unique use case for NFTs.\n• Ethereum’ssales reflect an 18% increase, up to US$9 million, but July’s US$271 million in sales is the lowest month of sales since June 2021.\n• Binanceis rocking into the third position with US$6 million in sales behind AIWorld Nodes and PLAYNFTs.\n• Polygon’snews that thePalmblockchain will migrate to Polygon has yet to reflect in volume, with US$5 million in sales.\n• MythosandImmutableXtake the fifth and sixth spots, showing that gaming NFTs can compete all on their own with the other major blockchains.\n• Bitcoinhas fallen to the seventh spot, struggling to cross US$5 million in sales for the week.\n• CryptoDickButts, one of the ultimate meme NFT collections to come from 2021 will be turning the project over to the biggest holder of their new series of four NFTs. The winner will get control over the official Twitter, Discord, and multi-signature wallet.\n• MemeWhalesdid $1.1m in trading volume behind their trading bot that collectors can purchase access to via NFT.\n• AIWorld Nodeson Binance allows collectors to purchase nodes that will power the AI platforms ecosystem. Holders can expect rewards through the platform’s currency, and more as they seemingly become validators.\n• PROOFannounced Grails series IV, which will see a new collection of art arrive from 20 as of yet unnamed artists. Previous artists include Deafbeef, Tyler Hobbs, Claire Silver, Matt Kane, Zancan, and other legends of NFT art. Expect this to be a major event that will use the Art Blocks Engine for the mint.\n• ThePalmblockchain along with their big brand NFTs like MLB, Netflix, NASCAR, and more are joining Polygon’s new 2.0 ecosystem.', 'Good morning. Here’s what’s happening: Prices: Bitcoin is shrugging off a downgrade of U.S. Government debt by Fitch. Insights: How quickly times change. Bitcoin dominance sagged in July after rising in June. CoinDesk CDI Head of Research Todd Growth explained why. Prices CoinDesk Market Index (CMI) 1,287.89 +17.3 ▲ 1.4% Bitcoin (BTC) $29,927 +651.6 ▲ 2.2% Ethereum (ETH) $1,874 +14.8 ▲ 0.8% S&P 500 daily close 4,576.73 −12.2 ▼ 0.3% Gold $1,985 +14.8 ▲ 0.8% Treasury Yield 10 Years 4.05% ▲ 0.1 BTC/ETH prices per CoinDesk Indices ; gold is COMEX spot price. Prices as of about 4 p.m. ET CoinDesk Market Index (CMI) 1,287.89 +17.3 ▲ 1.4% Bitcoin (BTC) $29,927 +651.6 ▲ 2.2% Ethereum (ETH) $1,874 +14.8 ▲ 0.8% S&P 500 daily close 4,576.73 −12.2 ▼ 0.3% Gold $1,985 +14.8 ▲ 0.8% Treasury Yield 10 Years 4.05% ▲ 0.1 BTC/ETH prices per CoinDesk Indices ; gold is COMEX spot price. Prices as of about 4 p.m. ET Bitcoin Bounds Over $30K After Debt Downgrade, MicroStrategy Filing Both bitcoin and ether are beginning the Asia trading day in the green, with the world’s largest digital asset up 2.2% and ether up 0.8% as markets in the East open in the red after Fitch downgraded the U.S’. long-term ratings to AA+ from AAA. The CoinDesk Market Index (CMI) is up 1.43% to 1,286. This downgrade comes at a time when companies are reporting relatively positive earnings, which is why the market doesn’t seem to be as panicked as it was in 2011 when S&P downgraded U.S. debt. In the middle of Q2 2023 earnings season, the S&P 500 has seen a greater proportion of companies reporting positive earnings surprises, according to Factset . This is in contrast to 2011, where stocks generally performed poorly , and news of the then-downgrade caused a panic . Back in 2011, bitcoin wasn’t really a mature asset class, and there wasn’t at the same trading volume making the quality of correlation to macroeconomic events poor. Story continues But how did it perform when the downgrade happened? Mixed. On August 6, 2011, it was down 33% to $6.6, but the next day it jumped by 20% to $7.9. Although, between the two days, there was only $200,000 in trading volume. Biggest Gainers Asset Ticker Returns DACS Sector Gala GALA +14.1% Entertainment XRP XRP +10.5% Currency Terra LUNA +7.0% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Stellar XLM −14.6% Smart Contract Platform Dogecoin DOGE −12.5% Currency Chainlink LINK −9.1% Computing Insights A July Decline in Bitcoin Dominance Bitcoin dominance waned in July after gaining ground the previous month, CoinDesk Indices Head of Research Todd Groth told "First Mover" TV hosts on Tuesday. Groth tied the trend reversal to an absence of the sort of catalysts that drove bitcoin\'s price dramatically higher in June, and Ripple\'s partial win last month in an ongoing court case with the Securities and Exchange Commission (SEC) that buoyed altcoin investors. The decision in U.S. federal court found that the sale of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts and raised hopes that the SEC could not deem other tokens as securities. "What it basically did was allowed for a lot of the altcoins to catch up with where bitcoin was, and even Etherium relative to the small cap universe," Groth said. In the days following the ruling, Coinbase, Kraken and other exchanges re-listed or announced plans to reopen trading of XRP and trading of the token mushroomed. Meanwhile, bitcoin slogged steadily downward to finish July off at 5%, the second monthly decline in an otherwise upbeat year. The BTC dominance rate in July sank below 49% in July after rising over 52% near the end of June. The CoinDesk Market Index was off only about 1%. "That was really driven by the computing sector, DeFi and digitalization, which have small tokens relative to currency and smart contract platforms where bitcoin and Etherium reside," Groth said. Important events. 8:15 p.m. HKT/SGT(12:15 UTC) United States ADP Employment Change (July) 7:00 a.m. HKT/SGT(23:00 UTC) Australia S&P Global Composite PMI (July) 7:50 a.m. HKT/SGT(23:50 UTC) Japan Foreign Bond Investment CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Bitcoin Starts August Below $29K; What\'s Next for DeFi After the Curve Exploit? The exploit at DeFi giant Curve Finance has driven down the price of its CRV token, putting a $168 million stash of founder Michael Egorov\'s money at risk of being liquidated. BlockSec co-founder Yajin "Andy" Zhou joined the conversation. Todd Groth, CFA, CoinDesk Indices head of research, discussed how the crypto markets performed in July. And, Koray Caliskan, author of "Data Money" shared his thoughts on the future of crypto regulation. Headlines The Ordinals Team is Creating a Non-Profit to Support Bitcoin NFT Developers : The team behind the Ordinals protocol, led by Casey Rodarmor, has created the Open Ordinals Institute to grow its ecosystem without compromising neutrality. Spooked by Curve Liquidation Threat, DeFi Protocols Shore Up Defenses : They’re responding to the potential systemic risk posed by Michael Egorov’s teetering financial position. Binance Japan Starts Onboarding Users : Two years earlier, the exchange was warned by Japanese regulators that it was operating in the country without permission. GameStop to Remove Crypto Wallets Citing \'Regulatory Uncertainty\' : The company will remove its iOS and Chrome wallet extensions on Nov. 1. MicroStrategy Books Impairment Charge of $24.1M on Massive Bitcoin Holdings in Q2 : The software firm reported its second-quarter earnings after the close on Tuesday.', 'Bitcoin, Ether and most other top ten non-stablecoin tokens gained in Wednesday morning trading in Asia, with Bitcoin recovering above the US$29,000 support line. BNB led the winners after its issuer, Binance, relaunched in Japan on Tuesday. Litecoin also posted notable gains ahead of Wednesday’s halving event, its first since August 2019, while the Forkast 500 NFT index was down. U.S. equity futures declined as corporate results came in mixed and the U.S. lost its triple A credit rating. Crypto in green Bitcoin rose 0.78% in the last 24 hours to US$29,440.29 as of 7:40 a.m. in Hong Kong, according to data from CoinMarketCap. The world’s largest cryptocurrency recovered after falling below the US$29,000 support line to a low of US$28,657.02 overnight. Later in the morning, Bitcoin threatened to break through the $30,000 resistance level on the back of Tuesday’s announcement that software developer MicroStrategy plans to sell $750 million of stock. Given MicroStrategy Chairman Michael Saylor’s heavy past investment in Bitcoin, the market interpreted the sale as a sign the company could buy more Bitcoin, raising the token’s price. Despite that movement, average 30-day Bitcoin price volatility sits at 0.74%, the lowest level since Oct. 2016, according to Buy Bitcoin Worldwide’s index . Even with the recent Curve Labs hack causing disruption in the world of decentralized finance, Bitcoin’s relative price stability can be put down to a “lack of earth shattering news” in the mold of the FTX or Terra Luna collapses, said Wade Guenther, partner at U.S.-based asset management firm Wilshire Phoenix. Bitcoin’s price has also resisted major turbulence caused by the U.S. Federal Reserve’s decision at its last meeting on July 26 to raise interest rates to between 5.25% to 5.50% — the highest level since January 2001. “Bitcoin has been resilient to the U.S. Fed interest rate hikes, likely because bitcoin is controlled by the rules built in the blockchain protocol, not by any country’s central bank policy,” Wade said. Ether gained 0.63% to US$1,867.92, adding 0.57% in the last seven days, while most other top 10 non-stablecoin cryptocurrencies were also up. Binance’s BNB token led the winners, rising 2.36% to US$247.07 for a weekly gain of 3.90%. Binance, the world’s largest cryptocurrency exchange, launched its Japan subsidiary, Binance Japan K.K., on Tuesday. With the launch, the Japan exchange debuted BNB for the first time in the country, where it joins 33 other tokens available to users of the platform. “If you want access to the most coins, now you need to go to Binance,” said Norbert Gehrke, author of the Japan Fintech Observer newsletter, in a note. Story continues Gehrke said that the depth of coins offered on the Binance platform might spell bad news for Japan’s smaller exchanges. “If you want a cynical view, then the [Financial Services Agency] allowing Binance to operate is just another step towards consolidation in the market and the weeding out of smaller, unprofitable players,” Gehrke added. Elsewhere, Litecoin rose 1.61% to US$93.65, adding to its weekly growth of 4.59%. The Litecoin halving event will take place later on Wednesday. The halving is expected to cut mining rewards to increase its scarcity and, potentially, trigger a boost in its price. The total crypto market capitalization rose 0.06% in the past 24 hours to US$1.18 trillion, while trading volume rose 30.09% to US$37.11 billion. ( Updates to add: paragraph 2, Bitcoin price rise, MicroStrategy ) NFTs down but not out The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index fell 0.46% in the past 24 hours to 2,502.65 as of 9:00 a.m. in Hong Kong. That fall contributed to a drop of 5.08% for the week and 10.07% for the month. Forkast’s Ethereum, Solana and Polygon NFT market indexes also all logged losses. However, Cardano’s NFT market showed a gain of 0.51%. In terms of trade volume, NFT staple Bored Ape Yacht Club topped the chart by rising 24.39% to US$1.09 million in the past 24 hours. Notably, there were also several new entrants in Cryptoslam’s NFT collection ranking chart, such as AIWorld Node, PLAYNFT and DraftKings. “While it’s slow across the NFT ecosystem in terms of sales volume, the low volume gives smaller projects a chance to stand in the spotlight,” said Yehudah Petscher, NFT strategist at Forkast Labs, the parent company of Forkast. Polygon network-based DraftKings, the NFT collection from the online sports betting and fantasy sports platform of the same name, ranked second in terms of sales volume. It rose 6.65% to US$814,020. The DraftKings platform, headquartered in Boston, claims to attract an average of around 2.8 million users per month. Those numbers are boosted by its sports and entertainment-themed digital collectibles, which sports betters and collectors can trade on its own marketplace. The DMarket and Gods Unchained Cards collections — which both provide in-game NFT items such as skins and other assets — ranked third and fourth respectively, with Forkast Labs’ Petscher commenting that sales of in-game assets of this kind are proving to be “bear market resistant.” Petscher also noted that the AIWorld Node and PLAYNFT collections are currently seeing around US$200,000 to over US$300,000 in daily sales. He said that the success of the two BNB blockchain-based collections could boost interest in projects beyond the dominant Ethereum blockchain. “The NFT market is made up of much more than just what’s on Ethereum, so it’s great to see other chains get some attention,” Petscher added. Meanwhile, Starbucks launched its eighth NFT collection, “ Green Apron ,” on the Nifty Gateway NFT marketplace on Tuesday. The collection, celebrating 50+ years of service, is part of the Seattle-based coffee shop chain’s blockchain reward program Starbucks Odyssey. Total NFT trading volume edged down 0.24% in the past 24 hours to US$18.99 million, according to data from CryptoSlam. Volume on Ethereum, the largest NFT network, fell 3.71% to US$12.35 million. Stocks drop globally after U.S. credit downgrade Image: Envato Elements The three major U.S. stock futures indexes all fell by around 0.25% as of 11:30 a.m. in Hong Kong, after a mixed day of regular trading on Tuesday. In Asia, the main stock indexes all declined, with Hong Kong’s Hang Seng index falling by nearly 2%. China’s Shanghai Composite, Japan’s Nikkei 225 and South Korea’s Kospi were all also down. The Fitch Ratings credit agency announced Tuesday that it had downgraded the U.S. credit rating from AAA to to AA+. The decision arrives in the aftermath of the U.S. debt ceiling standoff between Republican and Democratic lawmakers that threatened to derail global markets earlier in the year. A Fitch statement said the downgrade reflects an “expected fiscal deterioration” in the U.S. over the next three years. It also cited a growing government debt burden and the deterioration of fiscal and debt governance over the last two decades as reasons for the downgrade. In other news, U.S. corporate heavyweights posted mixed second quarter earnings results. Starbucks and Pinterest stocks slipped on disappointing business updates. New Mexico-based spaceflight company Virgin Galactic also revealed losses despite the launch of its first commercial spaceflight service during Q2. The July S&P Global US Manufacturing PMI (purchasing managers’ index), released Tuesday, was down. The dip reflects a decline in U.S. manufacturing operations, although it came in softer than any of the previous three months. “Manufacturing continues to act as a drag on the U.S. economy, the recent spell of malaise persisting at the start of the third quarter. However, producers are clearly shrugging off recession fears and planning for better times ahead,” wrote Chris Williamson, chief business economist at S&P Global Market Intelligence, in a news release. Investors still look forward to a slew of corporate results from companies such as Paypal, Thomson Reuters Corp., Ferrari, Robinhood and others on Wednesday. Apple and Amazon’s Q2 earnings are expected Thursday. Meanwhile, the Federal Reserve — on summer recess in August — next meets to discuss interest rates on Sep. 19 and 20. After a 25 basis point hike in July, rates now stand between 5.25% to 5.50%, the highest since January 2001. On July 26, Fed chair Jerome Powell said the likelihood of a recession in the U.S. has diminished, indicating to some analysts that the central bank may leave rates unchanged at next month’s meeting. (Updates to add equities section) View comments', 'Bitcoin, Ether and most other top ten non-stablecoin tokens gained in Wednesday morning trading in Asia, with Bitcoin recovering above the US$29,000 support line. BNB led the winners after its issuer, Binance, relaunched in Japan on Tuesday. Litecoin also posted notable gains ahead of Wednesday’s halving event, its first since August 2019, while the Forkast 500 NFT index was down. U.S. equity futures declined as corporate results came in mixed and the U.S. lost its triple A credit rating. Crypto in green Bitcoin rose 0.78% in the last 24 hours to US$29,440.29 as of 7:40 a.m. in Hong Kong, according to data from CoinMarketCap. The world’s largest cryptocurrency recovered after falling below the US$29,000 support line to a low of US$28,657.02 overnight. Later in the morning, Bitcoin threatened to break through the $30,000 resistance level on the back of Tuesday’s announcement that software developer MicroStrategy plans to sell $750 million of stock. Given MicroStrategy Chairman Michael Saylor’s heavy past investment in Bitcoin, the market interpreted the sale as a sign the company could buy more Bitcoin, raising the token’s price. Despite that movement, average 30-day Bitcoin price volatility sits at 0.74%, the lowest level since Oct. 2016, according to Buy Bitcoin Worldwide’s index . Even with the recent Curve Labs hack causing disruption in the world of decentralized finance, Bitcoin’s relative price stability can be put down to a “lack of earth shattering news” in the mold of the FTX or Terra Luna collapses, said Wade Guenther, partner at U.S.-based asset management firm Wilshire Phoenix. Bitcoin’s price has also resisted major turbulence caused by the U.S. Federal Reserve’s decision at its last meeting on July 26 to raise interest rates to between 5.25% to 5.50% — the highest level since January 2001. “Bitcoin has been resilient to the U.S. Fed interest rate hikes, likely because bitcoin is controlled by the rules built in the blockchain protocol, not by any country’s central bank policy,” Wade said. Ether gained 0.63% to US$1,867.92, adding 0.57% in the last seven days, while most other top 10 non-stablecoin cryptocurrencies were also up. Binance’s BNB token led the winners, rising 2.36% to US$247.07 for a weekly gain of 3.90%. Binance, the world’s largest cryptocurrency exchange, launched its Japan subsidiary, Binance Japan K.K., on Tuesday. With the launch, the Japan exchange debuted BNB for the first time in the country, where it joins 33 other tokens available to users of the platform. “If you want access to the most coins, now you need to go to Binance,” said Norbert Gehrke, author of the Japan Fintech Observer newsletter, in a note. Story continues Gehrke said that the depth of coins offered on the Binance platform might spell bad news for Japan’s smaller exchanges. “If you want a cynical view, then the [Financial Services Agency] allowing Binance to operate is just another step towards consolidation in the market and the weeding out of smaller, unprofitable players,” Gehrke added. Elsewhere, Litecoin rose 1.61% to US$93.65, adding to its weekly growth of 4.59%. The Litecoin halving event will take place later on Wednesday. The halving is expected to cut mining rewards to increase its scarcity and, potentially, trigger a boost in its price. The total crypto market capitalization rose 0.06% in the past 24 hours to US$1.18 trillion, while trading volume rose 30.09% to US$37.11 billion. ( Updates to add: paragraph 2, Bitcoin price rise, MicroStrategy ) NFTs down but not out The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index fell 0.46% in the past 24 hours to 2,502.65 as of 9:00 a.m. in Hong Kong. That fall contributed to a drop of 5.08% for the week and 10.07% for the month. Forkast’s Ethereum, Solana and Polygon NFT market indexes also all logged losses. However, Cardano’s NFT market showed a gain of 0.51%. In terms of trade volume, NFT staple Bored Ape Yacht Club topped the chart by rising 24.39% to US$1.09 million in the past 24 hours. Notably, there were also several new entrants in Cryptoslam’s NFT collection ranking chart, such as AIWorld Node, PLAYNFT and DraftKings. “While it’s slow across the NFT ecosystem in terms of sales volume, the low volume gives smaller projects a chance to stand in the spotlight,” said Yehudah Petscher, NFT strategist at Forkast Labs, the parent company of Forkast. Polygon network-based DraftKings, the NFT collection from the online sports betting and fantasy sports platform of the same name, ranked second in terms of sales volume. It rose 6.65% to US$814,020. The DraftKings platform, headquartered in Boston, claims to attract an average of around 2.8 million users per month. Those numbers are boosted by its sports and entertainment-themed digital collectibles, which sports betters and collectors can trade on its own marketplace. The DMarket and Gods Unchained Cards collections — which both provide in-game NFT items such as skins and other assets — ranked third and fourth respectively, with Forkast Labs’ Petscher commenting that sales of in-game assets of this kind are proving to be “bear market resistant.” Petscher also noted that the AIWorld Node and PLAYNFT collections are currently seeing around US$200,000 to over US$300,000 in daily sales. He said that the success of the two BNB blockchain-based collections could boost interest in projects beyond the dominant Ethereum blockchain. “The NFT market is made up of much more than just what’s on Ethereum, so it’s great to see other chains get some attention,” Petscher added. Meanwhile, Starbucks launched its eighth NFT collection, “ Green Apron ,” on the Nifty Gateway NFT marketplace on Tuesday. The collection, celebrating 50+ years of service, is part of the Seattle-based coffee shop chain’s blockchain reward program Starbucks Odyssey. Total NFT trading volume edged down 0.24% in the past 24 hours to US$18.99 million, according to data from CryptoSlam. Volume on Ethereum, the largest NFT network, fell 3.71% to US$12.35 million. Stocks drop globally after U.S. credit downgrade Image: Envato Elements The three major U.S. stock futures indexes all fell by around 0.25% as of 11:30 a.m. in Hong Kong, after a mixed day of regular trading on Tuesday. In Asia, the main stock indexes all declined, with Hong Kong’s Hang Seng index falling by nearly 2%. China’s Shanghai Composite, Japan’s Nikkei 225 and South Korea’s Kospi were all also down. The Fitch Ratings credit agency announced Tuesday that it had downgraded the U.S. credit rating from AAA to to AA+. The decision arrives in the aftermath of the U.S. debt ceiling standoff between Republican and Democratic lawmakers that threatened to derail global markets earlier in the year. A Fitch statement said the downgrade reflects an “expected fiscal deterioration” in the U.S. over the next three years. It also cited a growing government debt burden and the deterioration of fiscal and debt governance over the last two decades as reasons for the downgrade. In other news, U.S. corporate heavyweights posted mixed second quarter earnings results. Starbucks and Pinterest stocks slipped on disappointing business updates. New Mexico-based spaceflight company Virgin Galactic also revealed losses despite the launch of its first commercial spaceflight service during Q2. The July S&P Global US Manufacturing PMI (purchasing managers’ index), released Tuesday, was down. The dip reflects a decline in U.S. manufacturing operations, although it came in softer than any of the previous three months. “Manufacturing continues to act as a drag on the U.S. economy, the recent spell of malaise persisting at the start of the third quarter. However, producers are clearly shrugging off recession fears and planning for better times ahead,” wrote Chris Williamson, chief business economist at S&P Global Market Intelligence, in a news release. Investors still look forward to a slew of corporate results from companies such as Paypal, Thomson Reuters Corp., Ferrari, Robinhood and others on Wednesday. Apple and Amazon’s Q2 earnings are expected Thursday. Meanwhile, the Federal Reserve — on summer recess in August — next meets to discuss interest rates on Sep. 19 and 20. After a 25 basis point hike in July, rates now stand between 5.25% to 5.50%, the highest since January 2001. On July 26, Fed chair Jerome Powell said the likelihood of a recession in the U.S. has diminished, indicating to some analysts that the central bank may leave rates unchanged at next month’s meeting. (Updates to add equities section) View comments', "• US stocks finished mixed Tuesday amid more earnings reports and fresh economic data.\n• The number of job openings dropped by more than expected, according to Labor Department data.\n• A gauge of manufacturing activity slightly improved but still signaled contraction.\nUS stocks finished mixed on Tuesday amid more earnings reports and fresh economic data that pointed to some weakening.\nDow stocks Merck and Caterpillar reported quarterly earnings that topped forecasts, while fellow blue chip Pfizer gave mixed results.\nThe Labor Department reported that job openings in June fell to 9.582 million from 9.824 million in the prior month, below forecasts for about 9.6 million.\nThe Institute for Supply Management's manufacturing index edged up to 46.4 in July from 46.0 in June, still signalling contraction and missing views for 46.8.\nHere's where US indexes stood at the 4 p.m. ET closing bell on Tuesday:\n• S&P 500: 4,577.57, down, 0.25%\n• Dow Jones Industrial Average: 35,636.12, up 0.22% (76.59 points)\n• Nasdaq Composite: 14,283.91, down 0.43%\nHere's what else is happening:\n• How to invest $100,000 right now, according to billionaire Mike Novogratz.\n• The SEC charged a crypto entrepreneur with illegally raising over $1 billionand spending client funds on luxury goods, including a billion-year-old diamond.\n• Wharton professor Jeremy Siegel expects stocks to hit fresh highs, and sees only a 30% chance of a recession.\n• BlackRock and MSCI are facing congressional probesover facilitating investments in Chinese firms flagged by the US for security concerns.\nIn commodities, bonds and crypto:\n• West Texas Intermediate crudeoil dipped 0.5% to $81.41 per barrel.Brent crude, oil's international benchmark, dropped 0.6% to $84.96.\n• Goldslipped 1.3% to $1,982.50 per ounce.\n• The yield on the10-year Treasuryrose 8.8 basis points up to 4.045%.\n• Bitcoinedged up 0.1% to $29,237.\nRead the original article onBusiness Insider", "Gen Z is putting more stock into careers in finance, with one in four recent graduates considering the field a top career sector. Photo by ANGELA WEISS/AFP via Getty Images US stocks finished mixed Tuesday amid more earnings reports and fresh economic data. The number of job openings dropped by more than expected, according to Labor Department data. A gauge of manufacturing activity slightly improved but still signaled contraction. US stocks finished mixed on Tuesday amid more earnings reports and fresh economic data that pointed to some weakening. Dow stocks Merck and Caterpillar reported quarterly earnings that topped forecasts, while fellow blue chip Pfizer gave mixed results. The Labor Department reported that job openings in June fell to 9.582 million from 9.824 million in the prior month, below forecasts for about 9.6 million. The Institute for Supply Management's manufacturing index edged up to 46.4 in July from 46.0 in June, still signalling contraction and missing views for 46.8. Here's where US indexes stood at the 4 p.m. ET closing bell on Tuesday: S&P 500 : 4,577.57, down, 0.25% Dow Jones Industrial Average : 35,636.12, up 0.22% (76.59 points) Nasdaq Composite : 14,283.91, down 0.43% Here's what else is happening: How to invest $100,000 right now , according to billionaire Mike Novogratz. The SEC charged a crypto entrepreneur with illegally raising over $1 billion and spending client funds on luxury goods, including a billion-year-old diamond. Wharton professor Jeremy Siegel expects stocks to hit fresh highs , and sees only a 30% chance of a recession. BlackRock and MSCI are facing congressional probes over facilitating investments in Chinese firms flagged by the US for security concerns. In commodities, bonds and crypto: West Texas Intermediate crude oil dipped 0.5% to $81.41 per barrel. Brent crude , oil's international benchmark, dropped 0.6% to $84.96. Gold slipped 1.3% to $1,982.50 per ounce. The yield on the 10-year Treasury rose 8.8 basis points up to 4.045%. Bitcoin edged up 0.1% to $29,237. Read the original article on Business Insider", "Coinbase (COIN) is looking to add Bitcoin's Lightning network for payments as part of a broader plan to offer more cryptocurrency payments to users around the world.\n“We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I’m all for payments taking off in Bitcoin,” CEO Brian Armstrongsaid on Wednesday. “Let’s build it together,” he added in response to a tweet by Jack Dorsey, founder of financial services company Block Inc.\nThe Lightning Network is a second layer for bitcoin (BTC) that uses micropayment channels between software providers called nodes to speed up payments on the Bitcoin blockchain for a low cost.\nThese channels allow two parties to lock up on-chain funds. It decreases network congestion by conducting several transactions separately and by then bundling every transaction into one when submitting to the main blockchain.\nAs of Wednesday, the Lightning network’s total capacity – or the total amount of bitcoin locked for payments across all channels – is 4,686.64 bitcoin, worth just over $138 million at current prices.", "Coinbase (COIN) is looking to add Bitcoin's Lightning network for payments as part of a broader plan to offer more cryptocurrency payments to users around the world. “We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I’m all for payments taking off in Bitcoin,” CEO Brian Armstrong said on Wednesday . “Let’s build it together,” he added in response to a tweet by Jack Dorsey, founder of financial services company Block Inc. The Lightning Network is a second layer for bitcoin (BTC) that uses micropayment channels between software providers called nodes to speed up payments on the Bitcoin blockchain for a low cost. These channels allow two parties to lock up on-chain funds. It decreases network congestion by conducting several transactions separately and by then bundling every transaction into one when submitting to the main blockchain. As of Wednesday, the Lightning network’s total capacity – or the total amount of bitcoin locked for payments across all channels – is 4,686.64 bitcoin, worth just over $138 million at current prices. View comments", "Coinbase (COIN) is looking to add Bitcoin's Lightning network for payments as part of a broader plan to offer more cryptocurrency payments to users around the world.\n“We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I’m all for payments taking off in Bitcoin,” CEO Brian Armstrongsaid on Wednesday. “Let’s build it together,” he added in response to a tweet by Jack Dorsey, founder of financial services company Block Inc.\nThe Lightning Network is a second layer for bitcoin (BTC) that uses micropayment channels between software providers called nodes to speed up payments on the Bitcoin blockchain for a low cost.\nThese channels allow two parties to lock up on-chain funds. It decreases network congestion by conducting several transactions separately and by then bundling every transaction into one when submitting to the main blockchain.\nAs of Wednesday, the Lightning network’s total capacity – or the total amount of bitcoin locked for payments across all channels – is 4,686.64 bitcoin, worth just over $138 million at current prices.", 'Good morning. Here’s what’s happening:\nPrices:Bitcoin is shrugging off a downgrade of U.S. Government debt by Fitch.\nInsights:How quickly times change. Bitcoin dominance sagged in July after rising in June. CoinDesk CDI Head of Research Todd Growth explained why.\nCoinDesk Market Index (CMI)\n1,287.89\n+17.3▲1.4%\nBitcoin (BTC)\n$29,927\n+651.6▲2.2%\nEthereum (ETH)\n$1,874\n+14.8▲0.8%\nS&P 500 daily close\n4,576.73\n−12.2▼0.3%\nGold\n$1,985\n+14.8▲0.8%\nTreasury Yield 10 Years\n4.05%\n▲0.1\nBTC/ETH prices perCoinDesk Indices; gold is COMEX spot price. Prices as of about 4 p.m. ET\n[["1,287.89", "+17.3\\u25b21.4%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,927", "+651.6\\u25b22.2%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,874", "+14.8\\u25b20.8%"], {"CoinDesk Market Index (CMI)": "S&P 500 daily close"}, ["4,576.73", "\\u221212.2\\u25bc0.3%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,985", "+14.8\\u25b20.8%"], {"CoinDesk Market Index (CMI)": "Treasury Yield 10 Years"}, ["4.05%", "\\u25b20.1"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices; gold is COMEX spot price. Prices as of about 4 p.m. ET"}]\nBitcoin Bounds Over $30K After Debt Downgrade, MicroStrategy Filing\nBoth bitcoin and ether are beginning the Asia trading day in the green, with theworld’s largest digital asset up 2.2%andether up 0.8%as markets in the East open in the red after Fitch downgraded the U.S’. long-term ratings to AA+ from AAA.\nThe CoinDesk Market Index (CMI) is up1.43% to 1,286.\nThis downgrade comes at a time when companies are reporting relatively positive earnings, which is why the market doesn’t seem to be as panicked as it was in 2011 when S&P downgraded U.S. debt.\nIn the middle of Q2 2023 earnings season, the S&P 500 has seen a greater proportion of companies reporting positive earnings surprises,according to Factset. This is in contrast to 2011, where stocksgenerally performed poorly, and news of the then-downgradecaused a panic.\nBack in 2011, bitcoin wasn’t really a mature asset class, and there wasn’t at the same trading volume making the quality of correlation to macroeconomic events poor.\nBut how did it perform when the downgrade happened?\nMixed. On August 6, 2011,it was down 33%to $6.6, but the next day it jumped by 20% to $7.9. Although, between the two days, there was only $200,000 in trading volume.\n[{"Asset": "Gala", "Ticker": "GALA", "Returns": "+14.1%", "DACS Sector": "Entertainment"}, {"Asset": "XRP", "Ticker": "XRP", "Returns": "+10.5%", "DACS Sector": "Currency"}, {"Asset": "Terra", "Ticker": "LUNA", "Returns": "+7.0%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\\u221214.6%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u221212.5%", "DACS Sector": "Currency"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\\u22129.1%", "DACS Sector": "Computing"}]\nA July Decline in Bitcoin Dominance\nBitcoin dominance waned in July after gaining ground the previous month, CoinDesk Indices Head of Research Todd Groth told "First Mover" TV hosts on Tuesday.\nGroth tied the trend reversal to an absence of the sort of catalysts that drove bitcoin\'s price dramatically higher in June, and Ripple\'s partial win last month in an ongoing court case with the Securities and Exchange Commission (SEC) that buoyed altcoin investors. The decision in U.S. federal court found that the sale of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts and raised hopes that the SEC could not deem other tokens as securities.\n"What it basically did was allowed for a lot of the altcoins to catch up with where bitcoin was, and even Etherium relative to the small cap universe," Groth said.\nIn the days following the ruling, Coinbase, Kraken and other exchanges re-listed or announced plans to reopen trading of XRP and trading of the token mushroomed. Meanwhile, bitcoin slogged steadily downward to finish July off at 5%, the second monthly decline in an otherwise upbeat year. The BTC dominance rate in July sank below 49% in July after rising over 52% near the end of June. The CoinDesk Market Index was off only about 1%.\n"That was really driven by the computing sector, DeFi and digitalization, which have small tokens relative to currency and smart contract platforms where bitcoin and Etherium reside," Groth said.\n8:15 p.m. HKT/SGT(12:15 UTC)United States ADP Employment Change (July)\n7:00 a.m. HKT/SGT(23:00 UTC)Australia S&P Global Composite PMI (July)\n7:50 a.m. HKT/SGT(23:50 UTC)Japan Foreign Bond Investment\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nBitcoin Starts August Below $29K; What\'s Next for DeFi After the Curve Exploit?\nThe exploit at DeFi giant Curve Finance has driven down the price of its CRV token, putting a $168 million stash of founder Michael Egorov\'s money at risk of being liquidated. BlockSec co-founder Yajin "Andy" Zhou joined the conversation. Todd Groth, CFA, CoinDesk Indices head of research, discussed how the crypto markets performed in July. And, Koray Caliskan, author of "Data Money" shared his thoughts on the future of crypto regulation.\nThe Ordinals Team is Creating a Non-Profit to Support Bitcoin NFT Developers:The team behind the Ordinals protocol, led by Casey Rodarmor, has created the Open Ordinals Institute to grow its ecosystem without compromising neutrality.\nSpooked by Curve Liquidation Threat, DeFi Protocols Shore Up Defenses:They’re responding to the potential systemic risk posed by Michael Egorov’s teetering financial position.\nBinance Japan Starts Onboarding Users:Two years earlier, the exchange was warned by Japanese regulators that it was operating in the country without
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-02
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $566,175,931,031
- Hash Rate: 400593193.2983291
- Transaction Count: 390768.0
- Unique Addresses: 698941.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.53
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: While the major indexes were choppy, Meta Platforms stock popped on news of a new microblogging app. It was a sleepy start for stocks following the Fourth of July holiday, with the major indexes bouncing between positive and negative territory throughout Wednesday's session. The choppy price action came as market participants looked ahead to the mid-afternoon release of the minutes from the June Fed meeting (when it chose to pause hiking interest rates ) and continued into the close. The release of the Fed meeting minutes was the main event on today's relatively quiet economic calendar. The minutes showed that "some participants" favored another quarter-point rate hike at the June gathering, with those in support of this saying there were "few clear signs" that inflation was easing amid a still-strong labor market. However, "all participants continued to anticipate that … maintaining a restrictive stance for monetary policy would be appropriate" to reach the Fed's 2% inflation target, the minutes indicated . Meta takes aim at Twitter Meanwhile, there was plenty of single-stock action to keep investors on their toes. Meta Platforms ( META ), for one, jumped 2.9% after the Facebook parent said it will release this Thursday a microblogging app called Threads. The app is expected to compete with Elon Musk's Twitter. The latter social media app caused an uproar over the weekend when it said it would temporarily limit the number of posts unverified users can see in a day. Elsewhere, United Parcel Services ( UPS ) shed 2.1% after the Teamsters Union said the logistics giant "walked away" from contract negotiations. UPS, for its part, accused the union of ending discussions. The contract between the two parties expires at the end of this month. As for the major indexes, the Dow Jones Industrial Average slipped 0.4% to 34,288, the S&P 500 shed 0.2% to 4,446, and the Nasdaq Composite gave back 0.2% to 13,791. Story continues ETF popularity gained ground Q2 Interest in exchange-traded funds (ETFs) rose in the second quarter amid "a strong performance in the U.S. equity market and a risk-on investor mentality," says Aniket Ullal, head of ETF Data & Analytics at CFRA Research . Domestic equity ETFs, in particular, were popular over the three-month period, taking in $64 billion in net new inflows vs $2.5 billion in outflows in Q1. "The reversal in domestic equity ETF flows was sparked by the sharp rebound in U.S. equity performance in the first half of this year," Ullal says, with the recovery led by tech ETFs and growth ETFs – two strategies that "significantly underperformed" in 2022. Investors looking for the best ETFs to ride the risk-on rally have plenty of options at their disposal, including the best AI ETFs and the best Bitcoin ETFs . Cryptocurrencies were another area of the market that "received a significant boost this year after BlackRock filed for a spot bitcoin ETF," Ullal adds. Related Content Kiplinger's Weekly Earnings Calendar When Is the Next Fed Meeting? Spotlight on Jensen Global Quality Growth Fund...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["Bitcoin, Ether and all other top 10 non-stablecoin cryptocurrencies dipped in Thursday morning trading in Asia. While Bitcoin and Ether price volatility remains low, analysts suggest turbulence is on the horizon due to the upcoming decision on BlackRock’s Bitcoin ETF application and next year’s Bitcoin halving event. Conversely, Litecoin — which had its own halving event on Wednesday — posted the morning’s biggest drop among top 10 cryptos. The Forkast 500 NFT Index was down, while U.S. equity futures gained, partially recovering from a dip during regular trading on Wednesday. Anticipation building Bitcoin lost 0.12% in the last 24 hours to US$29,171.97 as of 6:45 a.m. in Hong Kong, according to data from CoinMarketCap. The world’s largest cryptocurrency briefly fell below the US$29,000 support line to a low of US$28,946.51 overnight. Ether also fell 0.35% to US$1,842.19 for a weekly loss of 1.50%. Bitcoin and Ether’s price volatility is at an unprecedented low, said Luuk Strijers, chief operating officer at Panama-based crypto derivatives exchange Deribit. “However, it’s important to note that the market anticipates a considerable upswing in volatility,” Strijers said. “This is largely driven by factors such as the upcoming ruling on the BlackRock spot ETF and the approaching Bitcoin Halvening.” In June, BlackRock — the world’s largest asset manager — filed an application to list a spot Bitcoin exchange-traded fund (ETF) for the U.S. market. The U.S. Securities and Exchange Commission (SEC) formally accepted the application for review on July 13. The regulator now has a maximum of 240 days to accept or reject it. Analysts at Bloomberg Intelligence this week upgraded their estimate for the chance the application would be approved from 50% to 65%, based on recent events including SEC chair Gary Gensler downplaying his role at the agency. Based on recent events and new information @ericbalchunas and I are officially increasing our spot #Bitcoin ETF approval odds to 65%. That's from 50% a couple weeks ago and 1% a few months ago. pic.twitter.com/VBLG8EYfoP — James Seyffart (@JSeyff) August 2, 2023 Earlier this week, six major U.S. asset managers including Grayscale and VanEck filed applications to launch ETFs for Ethereum futures. Story continues “Now we are once again seeing a flurry of applications for futures-based Ethereum ETFs, including an inverse “short” ETF from Proshares,” said Bradley Duke, founder and chief strategy officer at crypto exchange-traded product provider ETC Group. “There seems to be a growing acceptance at the SEC that crypto is an inevitable part of America’s investment landscape, and this is good news for crypto investors and service providers around the world,” Duke said. Meanwhile, Bitcoin’s next halving event is expected to take place in April 2024. The halving event will see the amount of new Bitcoin issued every 10 minutes cut in half from 6.25BTC to 3.125 BTC, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price. However, professional market trader and finance author Peter Brandt predicted on Twitter last week that both the halving of Bitcoin and the “inevitable” approval of the BlackRock’s spot Bitcoin ETF in the U.S. will disappoint the optimists. “Over 48 years of speculation I have learned again and again that markets discount events before the events are events,” wrote Brandt. All other top 10 non-stablecoin cryptocurrencies by market capitalization were down. Litecoin led the losses, falling 6.44% to US$87.37 and is down 2.83% for the week. The Bitcoin-inspired cryptocurrency completed its halving event on Wednesday, which cut mining rewards in half for the token. Bloomberg reported that a Litecoin price drop followed its two prior halvenings. That is the opposite effect of Bitcoin halving events, which tend to produce a positive impact on price. Dogecoin also dipped 3.44% to US$0.07465 for a weekly decline of 4.35%. XRP also slipped 2.28% to US$0.6874, losing 4.16% in the past seven days as the shine comes off the recent ruling in favor of issuer Ripple in the case brought against it by the SEC. The total crypto market capitalization fell 0.26% in the past 24 hours to US$1.17 trillion, while trading volume rose 9.49% to US$40.52 billion. Time to shine for smaller NFT projects The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index fell 0.61% in the past 24 hours to 2,490.35 as of 9:30 a.m. in Hong Kong. That drop contributed to a decline of 5.61% for the week and 9.56% for the month. Forkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all also logged losses. Total NFT trading volume fell 13.77% in the past 24 hours to US$17.86 million, according to data from CryptoSlam. Ethereum remained the top NFT network in terms of trade volume, but slipped 12.02% to US$12.20 million. Solana placed second in Cryptoslam’s blockchain ranking, gaining 24.80% to US$1.06 million. In terms of trade volume, NFT staple Bored Ape Yacht Club continued to top the collections chart as it rose 60.07% to US$1.23 million over the past 24 hours. Ethereum-based CryptoPunks ranked second in terms of sales volume. The collection added 2.54% to US$1.13 million, after Charleston-based digital artist Mike Winkelmann, better known as Beeple, announced the purchase of his first CryptoPunk on Thursday. appreciate all the kind words on this new lal' dude. thankful to have the opportunity to be a small part of this amazing community. this is the first PFP i have ever bought and it is a really long time coming. from the time i learned of NFTs this project has always stood out… pic.twitter.com/JAQarijzeK — beeple (@beeple) August 2, 2023 “He chose a fitting clown nose, joker eyes, mohawk punk, and when you see it you’ll probably agree — It screams “Beeple,”” wrote Yehudah Petscher, NFT strategist for Forkast Labs. “Coming in at over $200k, it’s a pricey flex, but well worth it to have a stake in the iconic NFT collection.” The DMarket and Gods Unchained Cards collections — which both provide in-game NFT items such as skins and other assets — ranked third and fourth in terms of sales volume. Petscher previously commented that sales of in-game assets of this kind are proving to be “bear market resistant,” staying in the top 5 ranking for an extended period. Polygon-based DraftKings NFT collection, from the sports betting entertainment platform of the same name, ranked ninth on Cryptoslam despite a 50.93% decline to US$394,603. The BNB chain-based PLAYNFT collection placed tenth, dipping 8.64% to US$221,070. PLAYNFT describes itself as a “cross-chain NFT utility platform” that connects NFT holders and creators to in-game content in blockchain-based games. “The market itself had a decent day in the green yesterday, with highest total sales since July 20th, but a decrease in sellers, buyers and total transactions from the prior few days,” wrote Petscher. “Lower volume on Ethereum gives projects on other chains a chance to shine, and that’s what we’re witnessing now with new projects entering the top 10 almost daily,” he added. U.S. equity futures mixed after Wednesday decline U.S. President Joe Biden | Image: Getty Images The three major U.S. stock futures indexes were mixed as of 11:00 a.m. in Hong Kong following a considerable decline during regular trading on Wednesday. In Asia, the main stock indexes saw a second straight day of decline, with Japan’s Nikkei 225 falling by 1.42%. China’s Shanghai Composite, Hong Kong’s Hang Seng index and South Korea’s Kospi were all also down. Purchasing managers’ indexes in Japan and Hong Kong for July also declined below expectations. Hong Kong saw its private sector contract for the first time since December 2022. Global equity markets are showing the strain of the Fitch Ratings credit agency’s downgrade of the United States’ long term credit rating from AAA to to AA+. The decision, announced Tuesday, arrives after the U.S. debt ceiling standoff between Republican and Democratic lawmakers that threatened to derail global markets earlier in the year. U.S. Treasury Secretary Janet Yellen called Fitch’s credit downgrade “arbitrary and based on outdated data,” while White House officials released their own statement Tuesday saying they “strongly disagree” with the decision. “The ratings model used by Fitch declined under President Trump and then improved under President Biden,” said the White House statement. Elsewhere, Wednesday’s second quarter earnings reports from U.S. corporations were mixed. PayPal, Robinhood, Etsy and Qualcomm Technologies stocks slipped after posting disappointing quarterly results, while Ferrari, DoorDash, Tripadvisor and Unity Software announced positive earnings. Later on Thursday, U.S. heavyweights Apple and Amazon will announce their Q2 earnings. Meanwhile, the Federal Reserve — on summer recess in August — next meets to discuss interest rates on Sep. 19 and 20. After a 25 basis point hike in July, rates now stand between 5.25% to 5.50%, the highest since January 2001. In a Tuesday report , Bloomberg’s chief U.S. economist Anna Wong said that the Fed will likely hold rates steady at the September meeting. She said that softer wage growth and personal consumption data point to progress on disinflation. The CME FedWatch Tool predicts an 82% chance that the Fed will leave the interest rate unchanged at the next meeting. It predicts an 18% chance of another 25-basis-point hike. (Updates to add equities section)", 'Bitcoin, Ether and all other top 10 non-stablecoin cryptocurrencies dipped in Thursday morning trading in Asia. While Bitcoin and Ether price volatility remains low, analysts suggest turbulence is on the horizon due to the upcoming decision on BlackRock’s Bitcoin ETF application and next year’s Bitcoin halving event. Conversely, Litecoin — which had its own halving event on Wednesday — posted the morning’s biggest drop among top 10 cryptos. The Forkast 500 NFT Index was down, while U.S. equity futures gained, partially recovering from a dip during regular trading on Wednesday.\nBitcoin lost 0.12% in the last 24 hours to US$29,171.97 as of 6:45 a.m. in Hong Kong, according to data from CoinMarketCap. The world’s largest cryptocurrency briefly fell below the US$29,000 support line to a low of US$28,946.51 overnight.\nEther also fell 0.35% to US$1,842.19 for a weekly loss of 1.50%.\nBitcoin and Ether’s price volatility is at an unprecedented low, said Luuk Strijers, chief operating officer at Panama-based crypto derivatives exchange Deribit.\n“However, it’s important to note that the market anticipates a considerable upswing in volatility,” Strijers said. “This is largely driven by factors such as the upcoming ruling on the BlackRock spot ETF and the approaching Bitcoin Halvening.”\nIn June, BlackRock — the world’s largest asset manager — filed an application to list a spot Bitcoin exchange-traded fund (ETF) for the U.S. market. The U.S. Securities and Exchange Commission (SEC) formallyacceptedthe application for review on July 13. The regulator now has a maximum of 240 days to accept or reject it.\nAnalysts at Bloomberg Intelligence this week upgraded their estimate for the chance the application would be approved from 50% to 65%, based on recent events including SEC chair Gary Genslerdownplayinghis role at the agency.\nEarlier this week, six major U.S.asset managersincluding Grayscale and VanEckfiledapplications to launch ETFs for Ethereum futures.\n“Now we are once again seeing a flurry of applications for futures-based Ethereum ETFs, including an inverse “short” ETF from Proshares,” said Bradley Duke, founder and chief strategy officer at crypto exchange-traded product provider ETC Group.\n“There seems to be a growing acceptance at the SEC that crypto is an inevitable part of America’s investment landscape, and this is good news for crypto investors and service providers around the world,” Duke said.\nMeanwhile, Bitcoin’s next halving event is expected to take place in April 2024. The halving event will see the amount of new Bitcoin issued every 10 minutescut in halffrom 6.25BTC to 3.125 BTC, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price.\nHowever, professional market trader and finance author Peter Brandt predictedon Twitterlast week that both the halving of Bitcoin and the “inevitable” approval of the BlackRock’s spot Bitcoin ETF in the U.S. will disappoint the optimists.\n“Over 48 years of speculation I have learned again and again that markets discount events before the events are events,” wrote Brandt.\nAll other top 10 non-stablecoin cryptocurrencies by market capitalization were down.\nLitecoin led the losses, falling 6.44% to US$87.37 and is down 2.83% for the week. The Bitcoin-inspired cryptocurrency completed its halving event on Wednesday, which cut mining rewards in half for the token. Bloombergreportedthat a Litecoin price drop followed its two prior halvenings. That is the opposite effect of Bitcoin halving events, which tend to produce a positive impact on price.\nDogecoin also dipped 3.44% to US$0.07465 for a weekly decline of 4.35%. XRP also slipped 2.28% to US$0.6874, losing 4.16% in the past seven days as the shine comes off the recentrulingin favor of issuer Ripple in the case brought against it by the SEC.\nThe total crypto market capitalization fell 0.26% in the past 24 hours to US$1.17 trillion, while trading volume rose 9.49% to US$40.52 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe Forkast 500 NFT index fell 0.61% in the past 24 hours to 2,490.35 as of 9:30 a.m. in Hong Kong. That drop contributed to a decline of 5.61% for the week and 9.56% for the month. Forkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all also logged losses.\nTotal NFT trading volume fell 13.77% in the past 24 hours to US$17.86 million, according to data from CryptoSlam.\nEthereum remained the top NFT network in terms of trade volume, but slipped 12.02% to US$12.20 million. Solana placed second in Cryptoslam’s blockchain ranking, gaining 24.80% to US$1.06 million.\nIn terms of trade volume, NFT staple Bored Ape Yacht Club continued to top the collections chart as it rose 60.07% to US$1.23 million over the past 24 hours.\nEthereum-based CryptoPunks ranked second in terms of sales volume. The collection added 2.54% to US$1.13 million, after Charleston-based digital artist Mike Winkelmann, better known as Beeple, announced the purchase of his first CryptoPunk on Thursday.\n“He chose a fitting clown nose, joker eyes, mohawk punk, and when you see it you’ll probably agree — It screams “Beeple,”” wrote Yehudah Petscher, NFT strategist for Forkast Labs. “Coming in at over $200k, it’s a pricey flex, but well worth it to have a stake in the iconic NFT collection.”\nThe DMarket and Gods Unchained Cards collections — which both provide in-game NFT items such as skins and other assets — ranked third and fourth in terms of sales volume. Petscher previouslycommentedthat sales of in-game assets of this kind are proving to be “bear market resistant,” staying in the top 5 ranking for an extended period.\nPolygon-based DraftKings NFT collection, from the sports betting entertainment platform of the same name, ranked ninth on Cryptoslam despite a 50.93% decline to US$394,603. The BNB chain-based PLAYNFT collection placed tenth, dipping 8.64% to US$221,070.\nPLAYNFTdescribesitself as a “cross-chain NFT utility platform” that connects NFT holders and creators to in-game content in blockchain-based games.\n“The market itself had a decent day in the green yesterday, with highest total sales since July 20th, but a decrease in sellers, buyers and total transactions from the prior few days,” wrote Petscher.\n“Lower volume on Ethereum gives projects on other chains a chance to shine, and that’s what we’re witnessing now with new projects entering the top 10 almost daily,” he added.\nThe three major U.S. stock futures indexes were mixed as of 11:00 a.m. in Hong Kong following a considerable decline during regular trading on Wednesday.\nIn Asia, the main stock indexes saw a second straight day of decline, with Japan’s Nikkei 225 falling by 1.42%. China’s Shanghai Composite, Hong Kong’s Hang Seng index and South Korea’s Kospi were all also down.\nPurchasing managers’indexesin Japan and Hong Kong for July also declined below expectations. Hong Kong saw its private sector contract for the first time since December 2022.\nGlobal equity markets are showing the strain of the Fitch Ratings credit agency’s downgrade of the United States’ long term credit rating from AAA to to AA+. The decision, announced Tuesday, arrives after the U.S. debt ceilingstandoffbetween Republican and Democratic lawmakers that threatened to derail global markets earlier in the year.\nU.S. Treasury Secretary Janet YellencalledFitch’s credit downgrade “arbitrary and based on outdated data,” while White House officials released their own statement Tuesday saying they “strongly disagree” with the decision.\n“The ratings model used by Fitch declined under President Trump and then improved under President Biden,”saidthe White House statement.\nElsewhere, Wednesday’s second quarter earnings reports from U.S. corporations were mixed. PayPal, Robinhood, Etsy and Qualcomm Technologies stocks slipped after posting disappointing quarterly results, while Ferrari, DoorDash, Tripadvisor and Unity Software announced positive earnings.\nLater on Thursday, U.S. heavyweights Apple and Amazon will announce their Q2 earnings.\nMeanwhile, the Federal Reserve — on summer recess in August — next meets to discuss interest rates on Sep. 19 and 20. After a 25 basis point hike in July, rates now stand between 5.25% to 5.50%, the highest since January 2001.\nIn a Tuesdayreport, Bloomberg’s chief U.S. economist Anna Wong said that the Fed will likely hold rates steady at the September meeting. She said that softer wage growth and personal consumption data point to progress on disinflation.\nThe CME FedWatch Toolpredictsan 82% chance that the Fed will leave the interest rate unchanged at the next meeting. It predicts an 18% chance of another 25-basis-point hike.\n(Updates to add equities section)', 'Bitcoin, Ether and all other top 10 non-stablecoin cryptocurrencies dipped in Thursday morning trading in Asia. While Bitcoin and Ether price volatility remains low, analysts suggest turbulence is on the horizon due to the upcoming decision on BlackRock’s Bitcoin ETF application and next year’s Bitcoin halving event. Conversely, Litecoin — which had its own halving event on Wednesday — posted the morning’s biggest drop among top 10 cryptos. The Forkast 500 NFT Index was down, while U.S. equity futures gained, partially recovering from a dip during regular trading on Wednesday.\nBitcoin lost 0.12% in the last 24 hours to US$29,171.97 as of 6:45 a.m. in Hong Kong, according to data from CoinMarketCap. The world’s largest cryptocurrency briefly fell below the US$29,000 support line to a low of US$28,946.51 overnight.\nEther also fell 0.35% to US$1,842.19 for a weekly loss of 1.50%.\nBitcoin and Ether’s price volatility is at an unprecedented low, said Luuk Strijers, chief operating officer at Panama-based crypto derivatives exchange Deribit.\n“However, it’s important to note that the market anticipates a considerable upswing in volatility,” Strijers said. “This is largely driven by factors such as the upcoming ruling on the BlackRock spot ETF and the approaching Bitcoin Halvening.”\nIn June, BlackRock — the world’s largest asset manager — filed an application to list a spot Bitcoin exchange-traded fund (ETF) for the U.S. market. The U.S. Securities and Exchange Commission (SEC) formallyacceptedthe application for review on July 13. The regulator now has a maximum of 240 days to accept or reject it.\nAnalysts at Bloomberg Intelligence this week upgraded their estimate for the chance the application would be approved from 50% to 65%, based on recent events including SEC chair Gary Genslerdownplayinghis role at the agency.\nEarlier this week, six major U.S.asset managersincluding Grayscale and VanEckfiledapplications to launch ETFs for Ethereum futures.\n“Now we are once again seeing a flurry of applications for futures-based Ethereum ETFs, including an inverse “short” ETF from Proshares,” said Bradley Duke, founder and chief strategy officer at crypto exchange-traded product provider ETC Group.\n“There seems to be a growing acceptance at the SEC that crypto is an inevitable part of America’s investment landscape, and this is good news for crypto investors and service providers around the world,” Duke said.\nMeanwhile, Bitcoin’s next halving event is expected to take place in April 2024. The halving event will see the amount of new Bitcoin issued every 10 minutescut in halffrom 6.25BTC to 3.125 BTC, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price.\nHowever, professional market trader and finance author Peter Brandt predictedon Twitterlast week that both the halving of Bitcoin and the “inevitable” approval of the BlackRock’s spot Bitcoin ETF in the U.S. will disappoint the optimists.\n“Over 48 years of speculation I have learned again and again that markets discount events before the events are events,” wrote Brandt.\nAll other top 10 non-stablecoin cryptocurrencies by market capitalization were down.\nLitecoin led the losses, falling 6.44% to US$87.37 and is down 2.83% for the week. The Bitcoin-inspired cryptocurrency completed its halving event on Wednesday, which cut mining rewards in half for the token. Bloombergreportedthat a Litecoin price drop followed its two prior halvenings. That is the opposite effect of Bitcoin halving events, which tend to produce a positive impact on price.\nDogecoin also dipped 3.44% to US$0.07465 for a weekly decline of 4.35%. XRP also slipped 2.28% to US$0.6874, losing 4.16% in the past seven days as the shine comes off the recentrulingin favor of issuer Ripple in the case brought against it by the SEC.\nThe total crypto market capitalization fell 0.26% in the past 24 hours to US$1.17 trillion, while trading volume rose 9.49% to US$40.52 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe Forkast 500 NFT index fell 0.61% in the past 24 hours to 2,490.35 as of 9:30 a.m. in Hong Kong. That drop contributed to a decline of 5.61% for the week and 9.56% for the month. Forkast’s Ethereum, Solana, Polygon and Cardano NFT market indexes all also logged losses.\nTotal NFT trading volume fell 13.77% in the past 24 hours to US$17.86 million, according to data from CryptoSlam.\nEthereum remained the top NFT network in terms of trade volume, but slipped 12.02% to US$12.20 million. Solana placed second in Cryptoslam’s blockchain ranking, gaining 24.80% to US$1.06 million.\nIn terms of trade volume, NFT staple Bored Ape Yacht Club continued to top the collections chart as it rose 60.07% to US$1.23 million over the past 24 hours.\nEthereum-based CryptoPunks ranked second in terms of sales volume. The collection added 2.54% to US$1.13 million, after Charleston-based digital artist Mike Winkelmann, better known as Beeple, announced the purchase of his first CryptoPunk on Thursday.\n“He chose a fitting clown nose, joker eyes, mohawk punk, and when you see it you’ll probably agree — It screams “Beeple,”” wrote Yehudah Petscher, NFT strategist for Forkast Labs. “Coming in at over $200k, it’s a pricey flex, but well worth it to have a stake in the iconic NFT collection.”\nThe DMarket and Gods Unchained Cards collections — which both provide in-game NFT items such as skins and other assets — ranked third and fourth in terms of sales volume. Petscher previouslycommentedthat sales of in-game assets of this kind are proving to be “bear market resistant,” staying in the top 5 ranking for an extended period.\nPolygon-based DraftKings NFT collection, from the sports betting entertainment platform of the same name, ranked ninth on Cryptoslam despite a 50.93% decline to US$394,603. The BNB chain-based PLAYNFT collection placed tenth, dipping 8.64% to US$221,070.\nPLAYNFTdescribesitself as a “cross-chain NFT utility platform” that connects NFT holders and creators to in-game content in blockchain-based games.\n“The market itself had a decent day in the green yesterday, with highest total sales since July 20th, but a decrease in sellers, buyers and total transactions from the prior few days,” wrote Petscher.\n“Lower volume on Ethereum gives projects on other chains a chance to shine, and that’s what we’re witnessing now with new projects entering the top 10 almost daily,” he added.\nThe three major U.S. stock futures indexes were mixed as of 11:00 a.m. in Hong Kong following a considerable decline during regular trading on Wednesday.\nIn Asia, the main stock indexes saw a second straight day of decline, with Japan’s Nikkei 225 falling by 1.42%. China’s Shanghai Composite, Hong Kong’s Hang Seng index and South Korea’s Kospi were all also down.\nPurchasing managers’indexesin Japan and Hong Kong for July also declined below expectations. Hong Kong saw its private sector contract for the first time since December 2022.\nGlobal equity markets are showing the strain of the Fitch Ratings credit agency’s downgrade of the United States’ long term credit rating from AAA to to AA+. The decision, announced Tuesday, arrives after the U.S. debt ceilingstandoffbetween Republican and Democratic lawmakers that threatened to derail global markets earlier in the year.\nU.S. Treasury Secretary Janet YellencalledFitch’s credit downgrade “arbitrary and based on outdated data,” while White House officials released their own statement Tuesday saying they “strongly disagree” with the decision.\n“The ratings model used by Fitch declined under President Trump and then improved under President Biden,”saidthe White House statement.\nElsewhere, Wednesday’s second quarter earnings reports from U.S. corporations were mixed. PayPal, Robinhood, Etsy and Qualcomm Technologies stocks slipped after posting disappointing quarterly results, while Ferrari, DoorDash, Tripadvisor and Unity Software announced positive earnings.\nLater on Thursday, U.S. heavyweights Apple and Amazon will announce their Q2 earnings.\nMeanwhile, the Federal Reserve — on summer recess in August — next meets to discuss interest rates on Sep. 19 and 20. After a 25 basis point hike in July, rates now stand between 5.25% to 5.50%, the highest since January 2001.\nIn a Tuesdayreport, Bloomberg’s chief U.S. economist Anna Wong said that the Fed will likely hold rates steady at the September meeting. She said that softer wage growth and personal consumption data point to progress on disinflation.\nThe CME FedWatch Toolpredictsan 82% chance that the Fed will leave the interest rate unchanged at the next meeting. It predicts an 18% chance of another 25-basis-point hike.\n(Updates to add equities section)', 'Good morning. Here’s what’s happening: Prices: Bitcoin wavers at $29.2K as investors look hopefully for spot BTC ETF news. Insights: MicroStrategy does not have a "finite shelf life," said David Tawil, president of crypto asset fund ProChain Capital Prices CoinDesk Market Index (CMI) 1,223 −26.3 ▼ 2.1% Bitcoin (BTC) $29,225 −593.7 ▼ 2.0% Ethereum (ETH) $1,844 −23.9 ▼ 1.3% S&P 500 4,513.39 −63.3 ▼ 1.4% Gold $1,972 +31.6 ▲ 1.6% Nikkei 225 32,707.69 −768.9 ▼ 2.3% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) CoinDesk Market Index (CMI) 1,223 −26.3 ▼ 2.1% Bitcoin (BTC) $29,225 −593.7 ▼ 2.0% Ethereum (ETH) $1,844 −23.9 ▼ 1.3% S&P 500 4,513.39 −63.3 ▼ 1.4% Gold $1,972 +31.6 ▲ 1.6% Nikkei 225 32,707.69 −768.9 ▼ 2.3% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Bitcoin Settles Back Down After swinging high and low over the course of a day, bitcoin was firmly nestled in the narrow range of between $29,000 and $29,500 that it has held for much of the past 10 days as Asian equity markets opened. The largest cryptocurrency by market capitalization was recently trading just below $29,223, off 2% over the past 24 hours. BTC rose above $30,000 but then plunged under $29,000 as investors responded to a series of industry specific and macroeconomic events. But markets settled back to familiar territory, an ongoing pattern that seems likely to continue, short a significant catalyst, which could appear if the Securities and Exchange Commission approves one of the spot bitcoin ETF applications filed in mid-June by BlackRock and other financial-services powerhouses. The timing of an SEC decision is uncertain. "Bitcoin is wavering above the $29,000 level as traders await any updates with a US spot Bitcoin ETF," Edward Moya, senior market analyst for foreign-exchange market maker Oanda, wrote in a note. "We’ve seen this movie before. Story continues "Fresh money has not yet been coming into the cryptoverse so range trading might remain a while longer," he added. Ether, the second-largest crypto by market capitalization was recently changing hands at $1,843, off 1.3%. Other major cryptos, which spent much of Wednesday in the red, moved more deeply into negative territory. And litecoin (LTC) recently plunged more than 5%, despite the token\'s anticipated halving event, which cut miners rewards in half, curbing the issuance of new tokens. Decentralized exchange Uniswap\'s UNI token was off more than 7.5%, while SOL and ADA , the native cryptos of the smart contracts platforms Solana and Cardano, were each down more than 2.5%. The CoinDesk Market Index (CMI), a measure of crypto markets performance, was recently down 0.5%. The Nikkei and Hang Seng indexes were off nearly a percentage point and 0.4%, respectively, following a down day for U.S. stocks, which struggled with a Fitch decision to downgrade the country\'s credit rating. The Nasdaq Composite and S&P 500 dropped 2.2% and 1.4%, respectively Biggest Gainers Asset Ticker Returns DACS Sector Gala GALA +9.7% Entertainment XRP XRP +9.1% Currency Terra LUNA +7.0% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Stellar XLM −15.7% Smart Contract Platform Dogecoin DOGE −12.5% Currency Chainlink LINK −10.3% Computing Insights MicroStrategy "Fills a Need" MicroStrategy (MSTR) and its bitcoin-focused strategy are going to be around for a while, despite the potential passage of a spot bitcoin ETF and other industry developments, David Tawil, president of crypto asset fund ProChain Capital, told CoinDesk TV\'s "First Mover" program. Tawil said that demand for the software developer\'s shares remained strong among investors seeking exposure to the world\'s largest cryptocurrency by market capitalization. "Does MicroStrategy as it currently exists, as it seems to be going, have a finite shelf life in light of the developments in the sector?" Tawil asked rhetorically. "We\'ve got a lot clamoring. MicroStrategy still fills a need in the marketplace." Tawil\'s comments came a day after MicroStrategy said it will sell $750 million in stock with the intent of adding to its bitcoin stash of 152,300 BTC worth over $4.5 billion. Much of its holdings have come since the pandemic and followed a strategy shift by its now Executive Chairman Michael Saylor, a bitcoin bull. Saylor has faced criticism that MicroStrategy\'s performance depends too deeply on an asset that has been famously volatile through much of its history. MicroStrategy\'s shares sank under $165 late last year at the height of the bear crypto market, a nearly 80% drop over the 12-month period when bitcoin\'s price sank from over $67,000 to about $16,500. The stock was recently trading over $400, its rise dovetailing with bitcoin\'s improved performance Tawil noted that MicroStrategy stock is easier to trade than the Grayscale Bitcoin Trust, which offers another way to invest in a bitcoin-targeted product without purchasing the asset itself. "The most significant point out of yesterday\'s earnings call is the fact that they may go out and raise an additional three-quarters of a billion dollars to buy more bitcoin," Tawil said. "As long as we\'ve got this disjointed system of how exactly people can invest in bitcoin, there seems to be room in the universe for one MicroStrategy." Important events. Coinbase Q2 earnings 8:25 a.m. HKT/SGT(12:25 a.m. UTC): Jibun Bank Services PMI (July) 8:30 p.m. HKT/SGT(12:30 p.m. UTC): U.S. Initial Jobless Claims (July 28) H1HKT/SGT(UTC) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : China Is Reportedly Binance\'s Largest Market; MicroStrategy Reports Q2 Earnings The Wall Street Journal reported that China is Binance’s largest market, amounting to 20% of worldwide volume. ProChain Capital President David Tawil shared his crypto markets analysis and thoughts on MicroStrategy\'s latest earnings results. CertiK CEO Ronghui Gu weighed in on the Curve Finance exploit. And, Kraken Chief Marketing Officer Mayur Gupta discussed the crypto exchange\'s partnership with the Williams Racing team. Headlines Is Sam Bankman-Fried Going to Jail?: Federal prosecutors are fed up with what they say are his repeated attempts to influence witness testimony. He maintains he’s just trying to defend his reputation. Binance Could Face U.S. Fraud Charges, but Prosecutors Worry About Risk of Bank Run: Semafor: The price of bitcoin and Binance\'s BNB token immediately fell following the report. Why You Should Care About Litecoin: It\'s the Backbone of Dogecoin: Litecoin, a blockchain cloned from Bitcoin in 2011 that underwent a key milestone on Wednesday known as a “halving,” provides network security to Dogecoin via a process called “merged mining.” Dogecoin is a frequent social-media topic for Tesla CEO Elon Musk. Bitcoin ETF Approval Odds Just Got Better: Bloomberg Analysts: They now see a 65% chance a U.S. spot bitcoin ETF will launch this year, up from 50% previously. Litecoin Undergoes Third \'Halving,\' in Milestone for 12-Year-Old Blockchain: The blockchain\'s "halving," where the pace of new issuance of cryptocurrency gets cut in half every four years, took place Wednesday, when it reached transaction block 2,520,000.', 'Remote-First-Company/SAN DIEGO, August 03, 2023 --( BUSINESS WIRE )--Coinbase Global, Inc. announced today that Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the Oppenheimer 26th Annual Technology, Internet & Communications Conference on Wednesday, August 9, 2023 at 2:55 pm ET / 11:55 am PT. A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com . Disclosure Information Coinbase uses the investor.coinbase.com and blog.coinbase.com websites, as well as press releases, public conference calls, public webcasts, our Twitter feed (@coinbase), our Facebook page, our LinkedIn page, our YouTube channel, and Brian Armstrong’s Twitter feed (@brian_armstrong) as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. About Coinbase Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy. View source version on businesswire.com: https://www.businesswire.com/news/home/20230802125158/en/ Contacts Press: [email protected] Investor Relations: [email protected]', 'Remote-First-Company/SAN DIEGO, August 03, 2023 --( BUSINESS WIRE )--Coinbase Global, Inc. announced today that Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the Oppenheimer 26th Annual Technology, Internet & Communications Conference on Wednesday, August 9, 2023 at 2:55 pm ET / 11:55 am PT. A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com . Disclosure Information Coinbase uses the investor.coinbase.com and blog.coinbase.com websites, as well as press releases, public conference calls, public webcasts, our Twitter feed (@coinbase), our Facebook page, our LinkedIn page, our YouTube channel, and Brian Armstrong’s Twitter feed (@brian_armstrong) as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. About Coinbase Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy. View source version on businesswire.com: https://www.businesswire.com/news/home/20230802125158/en/ Contacts Press: [email protected] Investor Relations: [email protected]', 'Following the recent applications forBitcoinspot ETFs, six institutions have submitted applications with the U.S.Securities and Exchange Commission(SEC) for exchange-traded funds (ETFs) based onEthereumfutures.\nVolatility Shares Ether Strategy ETF submitted the initial application on July 28. Other firms that submitted applications for ETFs include Grayscale Ethereum Futures ETF, ProShares Short Ether Strategy ETF, VanEck Ether Strategy ETF, Roundhill Ether Strategy ETF, and Bitwise Ethereum Strategy ETF.\nAlthough approximately 10 applications for ETFs tracking Ethereum futures contracts have been submitted in the past, the SEC has never approved any of them.\nThe Ethereum futures ETFs will debut 75 days after the filing date, with Volatility Shares being the first on October 12 if the SEC does not reject the applications.\nAfter a flurry of applications for spot-Bitcoin ETFs came into focus, especially after thelargest asset manager BlackRockfiled for one, the cryptocurrency sector became excited about crypto-related ETFs.\nGrayscale has argued that in order to treat all applicants equally, the SEC should accept all spot Bitcoin exchange-traded fund (ETF) applications simultaneously if it does so at all.', 'Volatility Shares, VanEck, Grayscale and More File For Ethereum Futures ETF Six Institutions File For Ethereum Futures ETF Following the recent applications for Bitcoin spot ETFs , six institutions have submitted applications with the U.S. Securities and Exchange Commission (SEC) for exchange-traded funds (ETFs) based on Ethereum futures. Volatility Shares Ether Strategy ETF submitted the initial application on July 28. Other firms that submitted applications for ETFs include Grayscale Ethereum Futures ETF, ProShares Short Ether Strategy ETF, VanEck Ether Strategy ETF, Roundhill Ether Strategy ETF, and Bitwise Ethereum Strategy ETF. Although approximately 10 applications for ETFs tracking Ethereum futures contracts have been submitted in the past, the SEC has never approved any of them. The Ethereum futures ETFs will debut 75 days after the filing date, with Volatility Shares being the first on October 12 if the SEC does not reject the applications. After a flurry of applications for spot-Bitcoin ETFs came into focus, especially after the largest asset manager BlackRock filed for one, the cryptocurrency sector became excited about crypto-related ETFs. Grayscale has argued that in order to treat all applicants equally, the SEC should accept all spot Bitcoin exchange-traded fund (ETF) applications simultaneously if it does so at all.', 'HashKey Exchange and OSL Digital Securities Ltd. have won Hong Kong\'s first crypto exchange licenses under a new regime that allows exchanges to serve retail customers. HashKey Exchange, a unit of digital asset financial-services firm HashKey Group, announced the license on Thursday , saying it can now expand its business scope to retail users in addition to the professional investors it has been serving. The announcement was followed by another from OSL Digital Securities , a subsidiary of Hong Kong\'s BC Technology Group Ltd, that it also had obtained a license to serve retail customers. The two entities already had licenses from Hong Kong\'s previous opt-in licensing regime for crypto asset service providers, which may have helped expedite the new approvals. "As an existing Type 1 and Type 7 licenses holder, HashKey Exchange successfully underwent a simplified process to obtain the license upgrade ... to expand its business scope from serving professional investors to retail users, fulfilling market demand for a licensed platform that offers users a safer and simpler process for buying and storing cryptocurrencies," the exchange said. Earlier, the HashKey Group announced plans to introduce a regulated exchange in the second quarter to serve retail customers and said it planned to raise funds at a $1 billion valuation to capitalize on Hong Kong\'s re-emergence as a potential crypto hub. "Effective immediately, OSL Digital Securities offers retail investors the ability to register on its platform and access digital asset products, starting with the popular cryptocurrencies bitcoin (BTC) and ethereum (ETH)," a press statement from the exchange said. The Securities and Futures Commission of Hong Kong, which is responsible for issuing the license, didn\'t immediately respond to a request for comment. Read More: What New York Can Learn From Hong Kong in Regulating Crypto Update (Aug 3, 11:57 UTC): Updates headline, text to reflect OSL also receiving approval.', 'Litecoin prices have lost 6% since itcompletedits third halving event on Wednesday evening in Asia.\nSee related article:Litecoin completes third halving event\n• Litecoin prices dropped 6.04% in the past 24 hours to US$86.16 as of 3 p.m. in Hong Kong on Thursday, according todatafrom CoinMarketCap.\n• Litecoin’s latest halving event cut the network’s mining rewards from 12.5 Litecoins per blockchain minted to 6.25 Litecoins, which will reduce the supply of new Litecoins from miners.\n• “If the number of Litecoins they mined gets halved, selling pressures will be halved from the miners,” said Litecoin founder Charlie Lee in a Thursdayinterviewwith U.S.-based crypto wallet firm Ballet. “If the demand for Litecoin is the same, then the price will go up.”\n• “Although the halving would normally be a positive event for the price of Litecoin, the current bearish market and recent negative industry news has had a larger impact on trader sentiment,” said Nick Ruck, chief operations officer at Singapore-based blockchain infrastructure platformContentFi Labs.\n• The recenthackon decentralized finance platform Curve Finance and market talk of U.S. prosecutors considering alawsuitagainst crypto exchange Binance over fraud allegations have both contributed to the negative sentiment in the crypto market, according to Ruck.\n• Following Litecoin’s previous two halving events in 2019 and 2015, the token’s value slid after halving and remained rangebound for months.\n• Like Litecoin, Bitcoin also features halving events that occur around once every four years. The world’s largest cryptocurrency’s next halving event is expected in April or May 2024, with U.K. bank Standard CharteredpredictingBitcoin price to reach US$120,000 by the end of next year.\nSee related article:What is ‘proof of work’ and how does that affect Bitcoin halving?', 'Litecoin prices have lost 6% since it completed its third halving event on Wednesday evening in Asia. See related article: Litecoin completes third halving event Fast facts Litecoin prices dropped 6.04% in the past 24 hours to US$86.16 as of 3 p.m. in Hong Kong on Thursday, according to data from CoinMarketCap. Litecoin’s latest halving event cut the network’s mining rewards from 12.5 Litecoins per blockchain minted to 6.25 Litecoins, which will reduce the supply of new Litecoins from miners. “If the number of Litecoins they mined gets halved, selling pressures will be halved from the miners,” said Litecoin founder Charlie Lee in a Thursday interview with U.S.-based crypto wallet firm Ballet. “If the demand for Litecoin is the same, then the price will go up.” “Although the halving would normally be a positive event for the price of Litecoin, the current bearish market and recent negative industry news has had a larger impact on trader sentiment,” said Nick Ruck, chief operations officer at Singapore-based blockchain infrastructure platform ContentFi Labs . The recent hack on decentralized finance platform Curve Finance and market talk of U.S. prosecutors considering a lawsuit against crypto exchange Binance over fraud allegations have both contributed to the negative sentiment in the crypto market, according to Ruck. Following Litecoin’s previous two halving events in 2019 and 2015, the token’s value slid after halving and remained rangebound for months. Like Litecoin, Bitcoin also features halving events that occur around once every four years. The world’s largest cryptocurrency’s next halving event is expected in April or May 2024, with U.K. bank Standard Chartered predicting Bitcoin price to reach US$120,000 by the end of next year. See related article: What is ‘proof of work’ and how does that affect Bitcoin halving?', 'Bitcoin dipped over 2% following news the US Department of Justice (DOJ) is reportedly contemplating bringing fraud charges against cryptocurrency exchange Binance.\nBitcoin (BTC-USD) fell below the $29,000 mark in early trade in Asia, but then bounced back modestly, with its price settling around $29,100 (£22,956), down over 2%.\nThe DOJ is hesitating over the fraud charges due to concerns over the negative impact on the larger crypto industry, according toSemafor.\nFederal prosecutors are concerned charges against Binance could cause a run on the platform. They fear a repeat of theFTX collapse in November 2022when an indictment led to a bank run that caused many retail investors to lose their money.\nRead more:Crypto live prices\nUS prosecutors are considering other options, such as fines and deferred or non-prosecution agreements, according to Semafor.\nBinance and its founder, Changpeng Zhao, have already been slapped with charges by the Securities and Exchange Commission (SEC).\nIn June, the US financial regulator accused Binance of mishandling customer funds and lying to regulators and investors about its operations.\nIt comes as bitcoin\'s price sees some stability as trading volumes remain low.\n"Bitcoin is wavering above the $29,000 level as traders await any updates with a US spot Bitcoin ETF," Edward Moya, senior market analyst for foreign exchange market maker Oanda,wrotein a note.\nRead more:Sovereign agents: Your own personal AI assistant? | The Crypto Mile\n"Fresh money has not yet been coming into the cryptoverse so range trading might remain a while longer."\nConfidence in bitcoin and the cryptocurrency market was also affected by a hack on the Curve Finance decentralised exchange on Sunday which lead to a loss of around $70m, according to Chainalysis.\nThe attackers exploited a weakness in Vyper, a Python-based programming language for Ethereum (ETH-USD) smart contracts utilised by Curve and other DeFi platforms.\nDownload the Yahoo Finance app, available forAppleandAndroid.', 'Bitcoin dipped over 2% following news the US Department of Justice (DOJ) is reportedly contemplating bringing fraud charges against cryptocurrency exchange Binance.\nBitcoin (BTC-USD) fell below the $29,000 mark in early trade in Asia, but then bounced back modestly, with its price settling around $29,100 (£22,956), down over 2%.\nThe DOJ is hesitating over the fraud charges due to concerns over the negative impact on the larger crypto industry, according toSemafor.\nFederal prosecutors are concerned charges against Binance could cause a run on the platform. They fear a repeat of theFTX collapse in November 2022when an indictment led to a bank run that caused many retail investors to lose their money.\nRead more:Crypto live prices\nUS prosecutors are considering other options, such as fines and deferred or non-prosecution agreements, according to Semafor.\nBinance and its founder, Changpeng Zhao, have already been slapped with charges by the Securities and Exchange Commission (SEC).\nIn June, the US financial regulator accused Binance of mishandling customer funds and lying to regulators and investors about its operations.\nIt comes as bitcoin\'s price sees some stability as trading volumes remain low.\n"Bitcoin is wavering above the $29,000 level as traders await any updates with a US spot Bitcoin ETF," Edward Moya, senior market analyst for foreign exchange market maker Oanda,wrotein a note.\nRead more:Sovereign agents: Your own personal AI assistant? | The Crypto Mile\n"Fresh money has not yet been coming into the cryptoverse so range trading might remain a while longer."\nConfidence in bitcoin and the cryptocurrency market was also affected by a hack on the Curve Finance decentralised exchange on Sunday which lead to a loss of around $70m, according to Chainalysis.\nThe attackers exploited a weakness in Vyper, a Python-based programming language for Ethereum (ETH-USD) smart contracts utilised by Curve and other DeFi platforms.\nDownload the Yahoo Finance app, available forAppleandAndroid.', 'Bitcoin dipped over 2% on Thursday. Photo: Getty (KTSDESIGN/SCIENCE PHOTO LIB
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-03
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $566,139,790,350
- Hash Rate: 392789429.7925176
- Transaction Count: 476007.0
- Unique Addresses: 716303.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.52
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: In this piece, we will take a look at Jim Rogers's latest predictions and investments. If you want to see more predictions and investments in this selection, check out Jim Rogers's 5 Latest Predictions and Investments . The stock market has been on an impressive run, depicted by the Nasdaq and the S&P 500 posting double-digit gains and recouping all the losses accrued last year. The remarkable run comes after the market suffered a bear run in 2022 fueled by inflationary pressures, deteriorating economic conditions, and Federal Reserve's aggressive push to hike interest rates. According to legendary investor Jim Rogers who co-founded Quantum Fund with George Soros , investors should be extremely cautious as the next downturn could be more painful. While the market appears to be in a bull run, everything always comes to an end, as equities cannot move up forever. The fact that the current bull run appears to be fueled by a small clique of tech giants, including Meta Platforms, Inc. (NASDAQ: META ), Alphabet Inc. (NASDAQ: GOOGL ), NVIDIA Corporation (NASDAQ: NVDA ), Apple Inc. (NASDAQ: AAPL ), Amazon.com, Inc. (NASDAQ: AMZN ), and Microsoft Corporation (NASDAQ: MSFT ), also raises serious concerns about the sustainability of the bull run. One of the factors likely to trigger a correction into the bear territory is the extreme debt levels. According to the legendary investor, too much debt does not bode well with investors. "[In] 2008, we had a bear market because of too much debt," he said. "Look out the window since 2008, debt everywhere has skyrocketed,” said Rogers in an interview with real Vision While not as popular as George Soros, Jim Rogers rose to prominence as he helped steer Quantum Fund into generating 4,200% returns between 1973 and 1980 outperforming S&P 500's 47% gains. He retired at the age of 37 after making so much money that he would never need to work again. After parting ways with Soros in 1980 , Rogers spent most of his time travelling on a motorcycle around the world covering over 160,000 km over six contents. Story continues After retiring with abundant wealth, he pursued diverse interests, becoming an educator, traveling the world, and authoring several best-selling books. Rogers' investment approach involves focusing on specific countries, commodities, or themes he believes hold profit potential. While his current holdings are not publicly disclosed, he has expressed caution in buying new assets and has mentioned owning commodities, particularly gold and silver. Jim Roger’s net worth is believed to stand at about $300 million. He has been investing privately since leaving Quantum Fund in 1980 but does not disclose his holdings. Despite being out of the limelight for many years his experience and insights about the markets is always looked upon. Jim Rogers, often dubbed the Indiana Jones of the investing world, has a penchant for globetrotting in search of cost-effective investment opportunities. Rogers, now living in Singapore with his family, made it clear that he was not buying anything as he expects bad times at the start of the year. According to the legendary investor, the next bear market will be the worst in the lifetime, exacerbated by debt that has increased too much over the past 15 years. The remarks draw up parrels to the economic conditions leading up to the devastating 2009 financial crisis. Jim Rogers's Latest Predictions and Investments To support the predictions, the 80-year-old investors draw parallels from the inflationary crisis of 1980. Following that crisis, policymakers pursued a vigorous tightening of monetary policy, implementing substantial interest rate hikes, raising them to 21%, and pushing treasury yields to astronomical levels in an effort to counter high inflation. The outcome was the United States economy being thrust into a recession, causing significant turmoil in the stock market. With the scenario unfolding in today’s financial markets, investors ought to be extremely cautious even as the market appears to be in a strong uptrend. Rogers is already predicting trouble across all the markets, from property to stocks to bonds and currencies. Jim Rogers' warning of a bear market cannot be taken lightly, given his experience in leveraging market volatility as his advantage. In partnership with George Soros, he founded Quantum Funds in 1973 and navigated the fund through multiple market downturns and economic crises. Our Methodology Rogers believes it is high time investors and individuals remain vigilant and assess the risk exposure. The high debt levels and resemblance to previous crises should always be a stark reminder that market conditions can deteriorate instantly. Likewise, we have compiled Rogers biggest predictions and investment ideas from multiple sources. 10. Biggest Bear Market Run of a lifetime Prediction: June 2022 Best known for his contrarian investment strategy that emphasizes long-term trends, Rogers believes the world is staring at the ferocious bear run of a lifetime. In June of 2022 Rogers made that claim that the prevailing economic conditions resembled the period leading to the great financial crisis of 2008. Unlike in the past crisis, the current situation is exacerbated by extreme debt levels following the massive stimulus packages at the height of the COVID-19 pandemic. The debt levels have already fueled a stubborn inflationary pressure that refuses to go away. With the FED insisting on hiking interest rates until inflation tanks below 2%, it spells more doom for an economy trying to bounce back from the COVID-19-fueled slowdown. “Since 2008, the debt everywhere has skyrocketed. Gigantic increases in debt … So, I think it’s a simple statement that the next bear market will be the worst in my lifetime. Because the debt has gone up by such staggering amounts in the past 14 years,” Jim Rogers said in a statement. 9. Governments Exacerbate Crypto Risks Prediction: August 2022 According to the legendary investor, the biggest risk to cryptocurrencies is the government. The government wants to control everything, so they will always do everything within its power to ensure cryptocurrencies don’t succeed. In August of 2022, Rogers reiterated that he will not invest in crypto even though his wife was a big fan and had invested in then. “If and when all our money is on our computer, it’s going to be government money,” he said in a recent interview with Bloomberg Crypto. “That’s not the way bureaucrats think. That’s not the way politicians think. They want control. They want to regulate everything.” Rogers does not expect the world to convert to Bitcoin or adopt cryptocurrencies as it has been touted in many circles. Even though digital assets live in the computer, it will always be government computer money, given the kind of regulations always in play. The remarks echo the stringent regulatory scrutiny that has seen many governments try to curtail the mining and trading of cryptocurrencies. China has been at the forefront of regulations significantly hurting cryptos' sentiments and prospects. Likewise, the governments have sought to foster the development of central bank-powered decentralized cryptocurrencies that they will always be in a position to control, unlike normal cryptocurrencies. 8. Inflation Will Persist for Long Prediction: September 2022 The US Federal Reserve has hiked interest rates at the fastest pace to highs of 5.5%. In the process, they have succeeded in pushing inflation from four-decade highs of 9.2% to about 3%. In September if last year Rogers reiterated inflationary pressures are far from over, even as the FED embarked on aggressive monetary tightening. According to Rogers inflation problem will only go away partially because governments have printed so much money in recent years. Therefore, even if it has come down significantly, it still needs to be finished. The legendary investor has warned that a move by the central banks to hike interest rates in the race to address the inflation problem could end up being catastrophic. For starters, it could be the trigger that will end up tipping the economy into recession. 7. Recession is Inevitable and going to be Bad Prediction: October 2022 Due to the high inflation environment, the economy will not avoid recession, according to Jim Rogers. The fact that it has been the longest time in history that the US has struggled with serious problems heightens the prospect of the economy plunging into recession. While the recession might have already started, according to Rogers, it’s not been bad because there have been some good things along the way. However, things are likely to turn out for the worst as debt has gone up so much over the past 15 years. 6. Agriculture Key to Fighting Inflation and Recession Prediction: October 2022 While the focus has been on emerging technologies such as artificial intelligence, blockchain, and cryptocurrencies, Rogers insists that agriculture will always be key. While agriculture might not seem as exciting as revolutionary technologies, it will always be an essential part of the economy and society. Therefore, Rogers believes agriculture is yet to gain the traction it deserves in the global economy, therefore, providing interesting and significant investment opportunities. "Agriculture has been a disaster for years," he said . "And usually, if you buy a disaster, things turn out OK." Given the consistent demand for food, even on soaring inflation or recession, agriculture will always provide opportunities for growth and diversification of investment portfolios. In addition, rogers believe investors should always pay close watch to housing since food and shelter are part of basic human needs. Click to continue reading and see Jim Rogers's 5 Latest Predictions and Investments . Suggested articles: 10 Best Rated Penny Stocks to Buy According to Analysts Billionaire Jeff Vinik's Stock Picks and 10-Year Performance 10 Stock Market Forecasts Next 6 Months Disclosure: None. Jim Rogers's Latest Predictions and Investments is originally published on Insider Monkey....
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['(Bloomberg) -- Asian regulators have stolen a march on the US by clarifying crypto rules, exemplified by Hong Kong’s first licenses for trading platforms under the city’s new digital-asset framework.\nMost Read from Bloomberg\n• US Bank Shares Drop as Moody’s Cuts Ratings, Warns on Risks\n• Wall Street WhatsApp, Texting Fines Exceed $2.5 Billion\n• Musk Says He May Need Surgery, Will Get MRI on Back and Neck\n• The Global South Breaks Away From the US-Led World Order\n• WeWork Tumbles After Raising ‘Substantial Doubt’ About Future\nHong Kong opened up to mass-market trading following confirmation Thursday that HashKey Exchange and OSL had won permits that legalize the retail trading of tokens, part of the city’s push to become a global hub for virtual assets.\nHong Kong implemented its mandatory crypto framework in June, the same month that Japan’s stablecoin law became operative and South Korea approved its first standalone digital-asset bill. Indonesia is starting up a government-backed crypto exchange to underpin the sector there.\nThe region’s officials are seeking to learn the lessons of last year’s $1.5 trillion digital-asset rout and a spate of global bankruptcies, like the wipeout of the FTX exchange, to create frameworks that protect investors while remaining attractive to firms — a challenging balancing act.\n“There may be short-term pain as the industry grapples with this leveling up,” said Angela Ang, senior policy adviser at blockchain intelligence firm TRM Labs and a former regulator at the Monetary Authority of Singapore. “But we could see long-term gains in the form of a well-governed, productive crypto ecosystem in Asia, if the industry invests in risk management and works with regulators to define fit-for-purpose crypto rules.”\nThe US, meanwhile, is mired in a crypto fog amid dueling court judgments, a turf war between regulatory agencies and disputes about proposed laws. Other jurisdictions, like the European Union and Dubai, have also detailed crypto rulebooks. The elephant in the room is China, which has banned crypto but where there are mounting signs of citizens flouting the prohibition.\nHere’s a look at digital-asset rules in key Asian jurisdictions:\nHong Kong\nLicensed crypto exchanges in Hong Kong can offer trading to individuals and institutions but retail investors are restricted to larger coins like Bitcoin and Ether. The framework stresses the need for adequate risk assessment, insurance cover and asset custody. Virtual-asset companies have given the rulebook a guarded welcome but have yet to commit major investment.\nThe government has allowed exchange-traded funds investing in CME Group Bitcoin and Ether futures, and sold its inaugural digital green bonds, which use digital ledgers to make the settlement and coupon payment process faster. A mandatory licensing regime for stablecoins — a type of crypto token that’s meant to hold a constant value — is due by 2023-2024.\nRead more: Hong Kong Opens to Retail Crypto Trading With New Licenses\nJapan\nJapan expanded its digital-asset rulebook when its stablecoin law — one of the first among major economies — went into effect mid-year. Soon after, Mitsubishi UFJ Financial Group Inc. said it’s in discussions with multiple parties about using its blockchain platform, Progmat, to issue stablecoins tied to foreign currencies — including the US dollar — for use globally.\nPrime Minister Fumio Kishida’s economic agenda includes support for the growth of so-called web3 firms. The term “web3” refers to a vision of a decentralized internet built around blockchains, crypto’s underlying technology. Japan has moved toward easing some crypto rules, such as on token listing and taxation, but overall is viewed as having strict regulations.\nRead more: Japan’s Biggest Bank MUFG in Talks to Issue Global Stablecoins\nSouth Korea\nSouth Korea approved its first standalone digital-asset bill just over a year after the implosion of tokens created by countryman Do Kwon exacerbated a crypto-market rout. The code defines virtual assets and imposes penalties for transgressions such as the use of nonpublic information, market manipulation and unfair trading practices.\nThe legislation gives the Financial Services Commission the power to oversee crypto operators as well as asset custodians. The Bank of Korea would also be able to probe such platforms. The act requires insurance coverage, reserve funds and necessary record keeping. The rules cover assets such as Bitcoin, while existing capital-markets law applies to tokens deemed securities.\nRead more: South Korea Passes Inaugural Crypto Bill After Spate of Scandals\nSingapore\nThe city-state’s goal is to develop a hub for productive uses of blockchain, such as tokenizing real-world assets that are currently hard to trade. At the same time, officials are curbing retail-investor participation in crypto-related trading and investments given the history of high volatility in digital assets.\nIn July, Singapore said it will require crypto exchanges to keep customer assets in a trust before the end of the year. The nation will also push ahead with a proposal to ban lending and staking for retail investors. Staking is the process of pledging coins to help operate a blockchain in return for rewards.\nRead more: Singapore Tells Crypto Platforms to Keep Client Money in a Trust\nAustralia\nAustralia has indicated it plans a consultation on licensing and custody requirements for cryptoasset service providers that will begin in coming weeks. That development came after an opposition lawmaker introduced a private bill to regulate the digital-asset industry. Meanwhile, the nation’s big banks have curbed access to crypto platforms due to risks from scams.\nRead more: Australia’s NAB Blocks Some Payments to Riskier Crypto Exchanges\nIndonesia\nIndonesia is drawing on the structure of the stock market to revamp crypto trading and mitigate the risks exposed by the collapse of FTX. A key plank of the plan, a state-backed crypto bourse where private-sector platforms will execute trades, is due to become operational in August. The blueprint resembles the way stock markets work by separating trading, clearing and custody under official oversight.\nRead more: FTX Mess Spurs Indonesia to Revamp Crypto With National Exchange\nMost Read from Bloomberg Businessweek\n• Teen Gamers Swiped $24 Million in Crypto, Then Turned on Each Other\n• A Digital Dollar Is for Banks and Governments, But Not You\n• Private Credit Funds Move From Mergers to Timeshares and Car Loans\n• Honoring the Enslaved Man Who Made Jack Daniel’s First Whiskey\n• China’s Reluctance on Stimulus Will Cap 2023 Growth\n©2023 Bloomberg L.P.', '(Bloomberg) -- Asian regulators have stolen a march on the US by clarifying crypto rules, exemplified by Hong Kong’s first licenses for trading platforms under the city’s new digital-asset framework. Most Read from Bloomberg US Bank Shares Drop as Moody’s Cuts Ratings, Warns on Risks Wall Street WhatsApp, Texting Fines Exceed $2.5 Billion Musk Says He May Need Surgery, Will Get MRI on Back and Neck The Global South Breaks Away From the US-Led World Order WeWork Tumbles After Raising ‘Substantial Doubt’ About Future Hong Kong opened up to mass-market trading following confirmation Thursday that HashKey Exchange and OSL had won permits that legalize the retail trading of tokens, part of the city’s push to become a global hub for virtual assets. Hong Kong implemented its mandatory crypto framework in June, the same month that Japan’s stablecoin law became operative and South Korea approved its first standalone digital-asset bill. Indonesia is starting up a government-backed crypto exchange to underpin the sector there. The region’s officials are seeking to learn the lessons of last year’s $1.5 trillion digital-asset rout and a spate of global bankruptcies, like the wipeout of the FTX exchange, to create frameworks that protect investors while remaining attractive to firms — a challenging balancing act. “There may be short-term pain as the industry grapples with this leveling up,” said Angela Ang, senior policy adviser at blockchain intelligence firm TRM Labs and a former regulator at the Monetary Authority of Singapore. “But we could see long-term gains in the form of a well-governed, productive crypto ecosystem in Asia, if the industry invests in risk management and works with regulators to define fit-for-purpose crypto rules.” The US, meanwhile, is mired in a crypto fog amid dueling court judgments, a turf war between regulatory agencies and disputes about proposed laws. Other jurisdictions, like the European Union and Dubai, have also detailed crypto rulebooks. The elephant in the room is China, which has banned crypto but where there are mounting signs of citizens flouting the prohibition. Here’s a look at digital-asset rules in key Asian jurisdictions: Hong Kong Licensed crypto exchanges in Hong Kong can offer trading to individuals and institutions but retail investors are restricted to larger coins like Bitcoin and Ether. The framework stresses the need for adequate risk assessment, insurance cover and asset custody. Virtual-asset companies have given the rulebook a guarded welcome but have yet to commit major investment. Story continues The government has allowed exchange-traded funds investing in CME Group Bitcoin and Ether futures, and sold its inaugural digital green bonds, which use digital ledgers to make the settlement and coupon payment process faster. A mandatory licensing regime for stablecoins — a type of crypto token that’s meant to hold a constant value — is due by 2023-2024. Read more: Hong Kong Opens to Retail Crypto Trading With New Licenses Japan Japan expanded its digital-asset rulebook when its stablecoin law — one of the first among major economies — went into effect mid-year. Soon after, Mitsubishi UFJ Financial Group Inc. said it’s in discussions with multiple parties about using its blockchain platform, Progmat, to issue stablecoins tied to foreign currencies — including the US dollar — for use globally. Prime Minister Fumio Kishida’s economic agenda includes support for the growth of so-called web3 firms. The term “web3” refers to a vision of a decentralized internet built around blockchains, crypto’s underlying technology. Japan has moved toward easing some crypto rules, such as on token listing and taxation, but overall is viewed as having strict regulations. Read more: Japan’s Biggest Bank MUFG in Talks to Issue Global Stablecoins South Korea South Korea approved its first standalone digital-asset bill just over a year after the implosion of tokens created by countryman Do Kwon exacerbated a crypto-market rout. The code defines virtual assets and imposes penalties for transgressions such as the use of nonpublic information, market manipulation and unfair trading practices. The legislation gives the Financial Services Commission the power to oversee crypto operators as well as asset custodians. The Bank of Korea would also be able to probe such platforms. The act requires insurance coverage, reserve funds and necessary record keeping. The rules cover assets such as Bitcoin, while existing capital-markets law applies to tokens deemed securities. Read more: South Korea Passes Inaugural Crypto Bill After Spate of Scandals Singapore The city-state’s goal is to develop a hub for productive uses of blockchain, such as tokenizing real-world assets that are currently hard to trade. At the same time, officials are curbing retail-investor participation in crypto-related trading and investments given the history of high volatility in digital assets. In July, Singapore said it will require crypto exchanges to keep customer assets in a trust before the end of the year. The nation will also push ahead with a proposal to ban lending and staking for retail investors. Staking is the process of pledging coins to help operate a blockchain in return for rewards. Read more: Singapore Tells Crypto Platforms to Keep Client Money in a Trust Australia Australia has indicated it plans a consultation on licensing and custody requirements for cryptoasset service providers that will begin in coming weeks. That development came after an opposition lawmaker introduced a private bill to regulate the digital-asset industry. Meanwhile, the nation’s big banks have curbed access to crypto platforms due to risks from scams. Read more: Australia’s NAB Blocks Some Payments to Riskier Crypto Exchanges Indonesia Indonesia is drawing on the structure of the stock market to revamp crypto trading and mitigate the risks exposed by the collapse of FTX. A key plank of the plan, a state-backed crypto bourse where private-sector platforms will execute trades, is due to become operational in August. The blueprint resembles the way stock markets work by separating trading, clearing and custody under official oversight. Read more: FTX Mess Spurs Indonesia to Revamp Crypto With National Exchange Most Read from Bloomberg Businessweek Teen Gamers Swiped $24 Million in Crypto, Then Turned on Each Other A Digital Dollar Is for Banks and Governments, But Not You Private Credit Funds Move From Mergers to Timeshares and Car Loans Honoring the Enslaved Man Who Made Jack Daniel’s First Whiskey China’s Reluctance on Stimulus Will Cap 2023 Growth ©2023 Bloomberg L.P. View comments', 'ProShares and Bitwise have filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on bitcoin (BTC) and ether (ETH). According to ProShares\' filing , the Bitcoin and Ether Equal Weight ETF will measure "the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts." Bitwise also filed for a Bitcoin and Ether Market Weight ETF . In recent months, excitement has mounted over the possibility a spot bitcoin exchange-traded fund could soon be approved. At present, the U.S. only allows for investment in bitcoin futures ETFs , which are backed by bitcoin derivatives. The latest filing adds to ProShares\' roster of crypto-related funds, which include a bitcoin futures ETF. In December, the group filed an application with the SEC for an ETF focused on the metaverse. UPDATE (Aug 4, 04:40 UTC) : Adds Bitwise details to story and headline.', "Block (SQ) reported $5.53 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 25.7%. EPS of $0.39 for the same period compares to $0.18 a year ago.\nThe reported revenue represents a surprise of +8.88% over the Zacks Consensus Estimate of $5.08 billion. With the consensus EPS estimate being $0.35, the EPS surprise was +11.43%.\nWhile investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.\nSince these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.\nHere is how Block performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:\n• Gross Payment Volume (GPV): $59.01 billion versus the seven-analyst average estimate of $61.10 billion.\n• Revenue- Hardware revenue: $44.92 million compared to the $49.11 million average estimate based on eight analysts. The reported number represents a change of -6.5% year over year.\n• Revenue- Subscription and services-based revenue: $1.46 billion compared to the $1.36 billion average estimate based on eight analysts. The reported number represents a change of +33.5% year over year.\n• Revenue- Transaction-based revenue: $1.64 billion versus $1.68 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +11% change.\n• Revenue- Bitcoin revenue: $2.39 billion versus the eight-analyst average estimate of $1.94 billion. The reported number represents a year-over-year change of +33.9%.\n• Revenue- Square- Total: $1.93 billion compared to the $1.93 billion average estimate based on six analysts.\n• Revenue- Square- Hardware revenue: $44.92 million versus the five-analyst average estimate of $48.89 million.\n• Revenue- Corporate and Other- Total: $50.08 million compared to the $48.62 million average estimate based on five analysts.\n• Revenue- Square- Subscription and services-based revenue: $380.60 million compared to the $350.05 million average estimate based on five analysts.\n• Revenue- Square- Transaction-based revenue: $1.50 billion versus $1.53 billion estimated by five analysts on average.\n• Revenue- Cash App- Bitcoin revenue: $2.39 billion versus the five-analyst average estimate of $2.09 billion.\n• Revenue- Cash App- Transaction-based revenue: $133.74 million compared to the $142.39 million average estimate based on five analysts.\nView all Key Company Metrics for Block here>>>Shares of Block have returned +8% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\nBlock, Inc. (SQ) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research", "Block (SQ) reported $5.53 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 25.7%. EPS of $0.39 for the same period compares to $0.18 a year ago. The reported revenue represents a surprise of +8.88% over the Zacks Consensus Estimate of $5.08 billion. With the consensus EPS estimate being $0.35, the EPS surprise was +11.43%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Block performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Gross Payment Volume (GPV) : $59.01 billion versus the seven-analyst average estimate of $61.10 billion. Revenue- Hardware revenue : $44.92 million compared to the $49.11 million average estimate based on eight analysts. The reported number represents a change of -6.5% year over year. Revenue- Subscription and services-based revenue : $1.46 billion compared to the $1.36 billion average estimate based on eight analysts. The reported number represents a change of +33.5% year over year. Revenue- Transaction-based revenue : $1.64 billion versus $1.68 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +11% change. Revenue- Bitcoin revenue : $2.39 billion versus the eight-analyst average estimate of $1.94 billion. The reported number represents a year-over-year change of +33.9%. Revenue- Square- Total : $1.93 billion compared to the $1.93 billion average estimate based on six analysts. Revenue- Square- Hardware revenue : $44.92 million versus the five-analyst average estimate of $48.89 million. Revenue- Corporate and Other- Total : $50.08 million compared to the $48.62 million average estimate based on five analysts. Revenue- Square- Subscription and services-based revenue : $380.60 million compared to the $350.05 million average estimate based on five analysts. Revenue- Square- Transaction-based revenue : $1.50 billion versus $1.53 billion estimated by five analysts on average. Revenue- Cash App- Bitcoin revenue : $2.39 billion versus the five-analyst average estimate of $2.09 billion. Revenue- Cash App- Transaction-based revenue : $133.74 million compared to the $142.39 million average estimate based on five analysts. Story continues View all Key Company Metrics for Block here>>> Shares of Block have returned +8% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Block, Inc. (SQ) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research", 'Bitcoin and Ether remained relatively stable in Friday morning trading in Asia as most other top 10 non-stablecoin cryptocurrencies dropped. Litecoin recorded the biggest losses as unfavorable macroeconomic conditions prevented the coin’s halving event from pushing up its value. Elsewhere, Coinbase Global posted bullish Q2 earnings, with one executive expressing confidence the company can now go on to win its legal battle with the U.S. Securities and Exchange Commission (SEC). The Forkast 500 NFT Index was down, while U.S. equity futures gained on upbeat earnings reports. Traders are now looking ahead to the release of U.S. jobs data later on Friday.\nBitcoin rose 0.16% in the last 24 hours to US$29,208.94 as of 7:00 a.m. in Hong Kong, according to CoinMarketCapdata. The world’s largest cryptocurrency briefly fell below the US$29,000 support line to a low of US$28,959.49 overnight. Meanwhile, Ether fell 0.24% to US$1,836.31\nBoth Bitcoin and Ether held steady for the week, with Bitcoin posting a 0.10% increase and Ether recording a weekly loss of 1.04%.\n“The lack of moves probably has to do with the current circumstances of seasonality,” said Michaël van de Poppe, chief executive officer and founder of Amsterdam-based crypto trading company MN Trading.\n“Summer usually is relatively boring and combined with the constant flow of fear surrounding the crypto markets — in the regulatory framework with Binance recently and the Department of Justice — isn’t really pushing the markets forward,” Poppe added.\nPoppe also said he sees the market remaining range bound for the foreseeable future.\n“I think we’ll stay in this relative window unless we get news from the regulatory side of things with potentially an ETF approval or confirmation that altcoins aren’t securities,” he said.\nMost top 10 non-stablecoin cryptocurrencies were down Friday morning. Litecoin led losses, falling 4.46% to US$83.39 for a 7.50% weekly decline. The Bitcoin-inspired cryptocurrency completed its halving event on Wednesday, which cut mining rewards in half for the token, increasing its scarcity.\nAdrian Wang, the chief executive officer of Hong Kong-based digital asset manager Metalpha said that the Litecoin halving failed to cause an uptick in price due to continuing difficulties in broader markets.\n“There wasn’t enough momentum to support a big rally amid the increasingly tough macro environment as [interest] rates rose higher with no short-term sign of relief,” he said.\nRipple XRP also slipped 2.90% to US$0.6666 for a weekly drop of 6.60% as the dispute between Ripple Labs and the U.S. SEC continues to rumble on.\nIn July, a breakthrough in the case appeared to arrive as a New York district judgeruledthat the Ripple-issued XRP token is not a security for individual traders. The ruling provided a timely boost for cryptocurrency prices across the board. However, the ruling also found that sale of XRP to institutional traders does violate securities law.\nThe sense of legal uncertainty is contributing to the slide in the token’s value.\nRipple CEO Brad Garlinghouse took to Twitter Wednesday to criticize the SEC for using XRP transparency reports against the company as part of the lawsuit.\nThe SEC has begun legal proceedings against a number of U.S.-based cryptocurrency firms based on its claim that most tokens other than Bitcoin are unregistered financial securities. One such firm is Coinbase Global, which operates the largest cryptocurrency exchange in the U.S.\nAfter the company’searnings callThursday, Coinbase’s chief legal officer Paul Grewal expressed confidence that the company can win the litigation brought against it by the SEC. The Nasdaq-listed exchange exceeded Q2 revenue expectations, with a surge in interest income.\nThe total crypto market capitalization fell 0.43% in the past 24 hours to US$1.17 trillion, while trading volume also fell 27.34% to US$29.27 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe Forkast 500 NFT index fell 0.43% in the past 24 hours to 2,479.47 as of 9:15 a.m. in Hong Kong. That drop contributed to a decline of 5.68% for the week and 10.68% for the month. Forkast’s Polygon and Cardano indexes recorded gains.\nEthereum, the top NFT network in terms of trade volume, slipped 7.95% to US$12.67 million. Solana placed second in Cryptoslam’s blockchain ranking, surging 52.85% to US$1.43 million.\nEthereum-based Bored Ape Yacht Club remains the top selling collection as it rose 43.06% to US$1.37 million over the past 24 hours.\nThree NFT collections from blockchain-based video games managed to place in Cryptoslam’s top five.\nDMarket and Gods Unchained Cards collections ranked second and third in terms of sales volume, marking themselves as steady sellers during the bearish market period. Sorare, the digital card collectibles from the fantasy football video game of the same name, also placed fifth on the chart, rising 18.84% to a 24 hour sales volume of US$566,677.\nEthereum-based generative art collection Art Blocks was fourth, adding 3.50% to US$694,478.\nMeanwhile, NFT trading platform Nifty’s announced the closure of its business citing financial difficulties.\n“Unfortunately, despite our best efforts, the investment opportunities we were working on didn’t pan out, and we now find ourselves at the end of our runway,” Nifty’s tweeted. “As a result, and with a heavy heart, we are winding down our operations as of today.”\nNifty’s, founded in 2018, curated prominent NFT collections, such as works by Beeple and Daniel Arsham.\nAccording to CoinGeckodata, the Blur NFT marketplace captured 56.80% of total market share among the top six platforms in February, followed by OpenSea, which owned 36.5%.\nTotal NFT trading volume fell 5.40% in the past 24 hours to US$18.49 million, according todatafrom CryptoSlam.\nThe three major U.S. stock futures indexes were up as of 11:45 a.m. in Hong Kong, recovering from a decline during regular trading on Thursday.\nIn Asia, key stock markets — China’s Shanghai Composite, Hong Kong’s Hang Seng Index, Japan’s Nikkei 225 and South Korea’s KOSPI — all gained on Friday.\nChinese stocks are heading toward a second consecutive week of growth, as investors anticipate further economic growth policies from Beijing. China’s GDP growth fell short ofexpectationsin July.\nU.S. stocks gained after trading hours on the latest round of earnings announcements Thursday. Amazon reported strong earnings, beating expectations. Online travel firm Booking Holdings, sports betting company DraftKings and crypto exchange operator Coinbase Global all also posted positive second quarter earnings.\nApple’s earnings, however, disappointed with iPhone sales revenue below expectations. The company recorded the third straight quarter of declines. Airbnb and cybersecurity firm Fortinet also posted underwhelming quarterly earnings.\nInvestors now await Friday’s U.S. jobs report for July. Wall Street experts expect the number of nonfarm payrolls to have increased by 200,000, according toCNBC. That number would be the smallest gain since December 2020 and may indicate an economic contraction.\nMeanwhile, the Federal Reserve — on summer recess in August — next meets to discuss interest rates on Sep. 19 and 20. After a 25 basis point hike in July, rates now stand between 5.25% to 5.50%, the highest since January 2001.\nThe CME FedWatch Tool predicts an 82.5% chance that the Fed will leave the interest rate unchanged at the next meeting. It predicts a 17.5% chance of another 25-basis-point hike.\n(Updates to add equities section)', "Bitcoin and Ether remained relatively stable in Friday morning trading in Asia as most other top 10 non-stablecoin cryptocurrencies dropped. Litecoin recorded the biggest losses as unfavorable macroeconomic conditions prevented the coin’s halving event from pushing up its value. Elsewhere, Coinbase Global posted bullish Q2 earnings, with one executive expressing confidence the company can now go on to win its legal battle with the U.S. Securities and Exchange Commission (SEC). The Forkast 500 NFT Index was down, while U.S. equity futures gained on upbeat earnings reports. Traders are now looking ahead to the release of U.S. jobs data later on Friday. Summer doldrums Bitcoin rose 0.16% in the last 24 hours to US$29,208.94 as of 7:00 a.m. in Hong Kong, according to CoinMarketCap data . The world’s largest cryptocurrency briefly fell below the US$29,000 support line to a low of US$28,959.49 overnight. Meanwhile, Ether fell 0.24% to US$1,836.31 Both Bitcoin and Ether held steady for the week, with Bitcoin posting a 0.10% increase and Ether recording a weekly loss of 1.04%. “The lack of moves probably has to do with the current circumstances of seasonality,” said Michaël van de Poppe, chief executive officer and founder of Amsterdam-based crypto trading company MN Trading. “Summer usually is relatively boring and combined with the constant flow of fear surrounding the crypto markets — in the regulatory framework with Binance recently and the Department of Justice — isn’t really pushing the markets forward,” Poppe added. Poppe also said he sees the market remaining range bound for the foreseeable future. “I think we’ll stay in this relative window unless we get news from the regulatory side of things with potentially an ETF approval or confirmation that altcoins aren’t securities,” he said. Most top 10 non-stablecoin cryptocurrencies were down Friday morning. Litecoin led losses, falling 4.46% to US$83.39 for a 7.50% weekly decline. The Bitcoin-inspired cryptocurrency completed its halving event on Wednesday, which cut mining rewards in half for the token, increasing its scarcity. Story continues Adrian Wang, the chief executive officer of Hong Kong-based digital asset manager Metalpha said that the Litecoin halving failed to cause an uptick in price due to continuing difficulties in broader markets. “There wasn’t enough momentum to support a big rally amid the increasingly tough macro environment as [interest] rates rose higher with no short-term sign of relief,” he said. Ripple XRP also slipped 2.90% to US$0.6666 for a weekly drop of 6.60% as the dispute between Ripple Labs and the U.S. SEC continues to rumble on. In July, a breakthrough in the case appeared to arrive as a New York district judge ruled that the Ripple-issued XRP token is not a security for individual traders. The ruling provided a timely boost for cryptocurrency prices across the board. However, the ruling also found that sale of XRP to institutional traders does violate securities law. The sense of legal uncertainty is contributing to the slide in the token’s value. Ripple CEO Brad Garlinghouse took to Twitter Wednesday to criticize the SEC for using XRP transparency reports against the company as part of the lawsuit. We began these reports to voluntarily provide updates given our XRP holdings. Sadly, they were used against us in the SEC lawsuit – however, we remain steadfast in our commitment to transparency but I suspect they’re going to look a bit different moving forward https://t.co/oANR6WCG09 — Brad Garlinghouse (@bgarlinghouse) August 2, 2023 The SEC has begun legal proceedings against a number of U.S.-based cryptocurrency firms based on its claim that most tokens other than Bitcoin are unregistered financial securities. One such firm is Coinbase Global, which operates the largest cryptocurrency exchange in the U.S. After the company’s earnings call Thursday, Coinbase’s chief legal officer Paul Grewal expressed confidence that the company can win the litigation brought against it by the SEC. The Nasdaq-listed exchange exceeded Q2 revenue expectations, with a surge in interest income. The total crypto market capitalization fell 0.43% in the past 24 hours to US$1.17 trillion, while trading volume also fell 27.34% to US$29.27 billion. Nifty’s NFT platform folds The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index fell 0.43% in the past 24 hours to 2,479.47 as of 9:15 a.m. in Hong Kong. That drop contributed to a decline of 5.68% for the week and 10.68% for the month. Forkast’s Polygon and Cardano indexes recorded gains. Ethereum, the top NFT network in terms of trade volume, slipped 7.95% to US$12.67 million. Solana placed second in Cryptoslam’s blockchain ranking, surging 52.85% to US$1.43 million. Ethereum-based Bored Ape Yacht Club remains the top selling collection as it rose 43.06% to US$1.37 million over the past 24 hours. Three NFT collections from blockchain-based video games managed to place in Cryptoslam’s top five. DMarket and Gods Unchained Cards collections ranked second and third in terms of sales volume, marking themselves as steady sellers during the bearish market period. Sorare, the digital card collectibles from the fantasy football video game of the same name, also placed fifth on the chart, rising 18.84% to a 24 hour sales volume of US$566,677. Ethereum-based generative art collection Art Blocks was fourth, adding 3.50% to US$694,478. Meanwhile, NFT trading platform Nifty’s announced the closure of its business citing financial difficulties. Nifty’s Update Earlier this year, mindful of our limited resources in a difficult market, we pivoted to developing a platform for Web3 creators. Since then, we’ve been heads down building our new product and working on opportunities to access the capital required to keep… — Nifty's (@Niftys) August 3, 2023 “Unfortunately, despite our best efforts, the investment opportunities we were working on didn’t pan out, and we now find ourselves at the end of our runway,” Nifty’s tweeted. “As a result, and with a heavy heart, we are winding down our operations as of today.” Nifty’s, founded in 2018, curated prominent NFT collections, such as works by Beeple and Daniel Arsham. According to CoinGecko data , the Blur NFT marketplace captured 56.80% of total market share among the top six platforms in February, followed by OpenSea, which owned 36.5%. Total NFT trading volume fell 5.40% in the past 24 hours to US$18.49 million, according to data from CryptoSlam. Earnings and jobs data Image: Getty Images The three major U.S. stock futures indexes were up as of 11:45 a.m. in Hong Kong, recovering from a decline during regular trading on Thursday. In Asia, key stock markets — China’s Shanghai Composite, Hong Kong’s Hang Seng Index, Japan’s Nikkei 225 and South Korea’s KOSPI — all gained on Friday. Chinese stocks are heading toward a second consecutive week of growth, as investors anticipate further economic growth policies from Beijing. China’s GDP growth fell short of expectations in July. U.S. stocks gained after trading hours on the latest round of earnings announcements Thursday. Amazon reported strong earnings, beating expectations. Online travel firm Booking Holdings, sports betting company DraftKings and crypto exchange operator Coinbase Global all also posted positive second quarter earnings. Apple’s earnings, however, disappointed with iPhone sales revenue below expectations. The company recorded the third straight quarter of declines. Airbnb and cybersecurity firm Fortinet also posted underwhelming quarterly earnings. Investors now await Friday’s U.S. jobs report for July. Wall Street experts expect the number of nonfarm payrolls to have increased by 200,000, according to CNBC . That number would be the smallest gain since December 2020 and may indicate an economic contraction. Meanwhile, the Federal Reserve — on summer recess in August — next meets to discuss interest rates on Sep. 19 and 20. After a 25 basis point hike in July, rates now stand between 5.25% to 5.50%, the highest since January 2001. The CME FedWatch Tool predicts an 82.5% chance that the Fed will leave the interest rate unchanged at the next meeting. It predicts a 17.5% chance of another 25-basis-point hike. (Updates to add equities section)", 'Bitcoin and Ether remained relatively stable in Friday morning trading in Asia as most other top 10 non-stablecoin cryptocurrencies dropped. Litecoin recorded the biggest losses as unfavorable macroeconomic conditions prevented the coin’s halving event from pushing up its value. Elsewhere, Coinbase Global posted bullish Q2 earnings, with one executive expressing confidence the company can now go on to win its legal battle with the U.S. Securities and Exchange Commission (SEC). The Forkast 500 NFT Index was down, while U.S. equity futures gained on upbeat earnings reports. Traders are now looking ahead to the release of U.S. jobs data later on Friday.\nBitcoin rose 0.16% in the last 24 hours to US$29,208.94 as of 7:00 a.m. in Hong Kong, according to CoinMarketCapdata. The world’s largest cryptocurrency briefly fell below the US$29,000 support line to a low of US$28,959.49 overnight. Meanwhile, Ether fell 0.24% to US$1,836.31\nBoth Bitcoin and Ether held steady for the week, with Bitcoin posting a 0.10% increase and Ether recording a weekly loss of 1.04%.\n“The lack of moves probably has to do with the current circumstances of seasonality,” said Michaël van de Poppe, chief executive officer and founder of Amsterdam-based crypto trading company MN Trading.\n“Summer usually is relatively boring and combined with the constant flow of fear surrounding the crypto markets — in the regulatory framework with Binance recently and the Department of Justice — isn’t really pushing the markets forward,” Poppe added.\nPoppe also said he sees the market remaining range bound for the foreseeable future.\n“I think we’ll stay in this relative window unless we get news from the regulatory side of things with potentially an ETF approval or confirmation that altcoins aren’t securities,” he said.\nMost top 10 non-stablecoin cryptocurrencies were down Friday morning. Litecoin led losses, falling 4.46% to US$83.39 for a 7.50% weekly decline. The Bitcoin-inspired cryptocurrency completed its halving event on Wednesday, which cut mining rewards in half for the token, increasing its scarcity.\nAdrian Wang, the chief executive officer of Hong Kong-based digital asset manager Metalpha said that the Litecoin halving failed to cause an uptick in price due to continuing difficulties in broader markets.\n“There wasn’t enough momentum to support a big rally amid the increasingly tough macro environment as [interest] rates rose higher with no short-term sign of relief,” he said.\nRipple XRP also slipped 2.90% to US$0.6666 for a weekly drop of 6.60% as the dispute between Ripple Labs and the U.S. SEC continues to rumble on.\nIn July, a breakthrough in the case appeared to arrive as a New York district judgeruledthat the Ripple-issued XRP token is not a security for individual traders. The ruling provided a timely boost for cryptocurrency prices across the board. However, the ruling also found that sale of XRP to institutional traders does violate securities law.\nThe sense of legal uncertainty is contributing to the slide in the token’s value.\nRipple CEO Brad Garlinghouse took to Twitter Wednesday to criticize the SEC for using XRP transparency reports against the company as part of the lawsuit.\nThe SEC has begun legal proceedings against a number of U.S.-based cryptocurrency firms based on its claim that most tokens other than Bitcoin are unregistered financial securities. One such firm is Coinbase Global, which operates the largest cryptocurrency exchange in the U.S.\nAfter the company’searnings callThursday, Coinbase’s chief legal officer Paul Grewal expressed confidence that the company can win the litigation brought against it by the SEC. The Nasdaq-listed exchange exceeded Q2 revenue expectations, with a surge in interest income.\nThe total crypto market capitalization fell 0.43% in the past 24 hours to US$1.17 trillion, while trading volume also fell 27.34% to US$29.27 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe Forkast 500 NFT index fell 0.43% in the past 24 hours to 2,479.47 as of 9:15 a.m. in Hong Kong. That drop contributed to a decline of 5.68% for the week and 10.68% for the month. Forkast’s Polygon and Cardano indexes recorded gains.\nEthereum, the top NFT network in terms of trade volume, slipped 7.95% to US$12.67 million. Solana placed second in Cryptoslam’s blockchain ranking, surging 52.85% to US$1.43 million.\nEthereum-based Bored Ape Yacht Club remains the top selling collection as it rose 43.06% to US$1.37 million over the past 24 hours.\nThree NFT collections from blockchain-based video games managed to place in Cryptoslam’s top five.\nDMarket and Gods Unchained Cards collections ranked second and third in terms of sales volume, marking themselves as steady sellers during the bearish market period. Sorare, the digital card collectibles from the fantasy football video game of the same name, also placed fifth on the chart, rising 18.84% to a 24 hour sales volume of US$566,677.\nEthereum-based generative art collection Art Blocks was fourth, adding 3.50% to US$694,478.\nMeanwhile, NFT trading platform Nifty’s announced the closure of its business citing financial difficulties.\n“Unfortunately, despite our best efforts, the investment opportunities we were working on didn’t pan out, and we now find ourselves at the end of our runway,” Nifty’s tweeted. “As a result, and with a heavy heart, we are winding down our operations as of today.”\nNifty’s, founded in 2018, curated prominent NFT collections, such as works by Beeple and Daniel Arsham.\nAccording to CoinGeckodata, the Blur NFT marketplace captured 56.80% of total market share among the top six platforms in February, followed by OpenSea, which owned 36.5%.\nTotal NFT trading volume fell 5.40% in the past 24 hours to US$18.49 million, according todatafrom CryptoSlam.\nThe three major U.S. stock futures indexes were up as of 11:45 a.m. in Hong Kong, recovering from a decline during regular trading on Thursday.\nIn Asia, key stock markets — China’s Shanghai Composite, Hong Kong’s Hang Seng Index, Japan’s Nikkei 225 and South Korea’s KOSPI — all gained on Friday.\nChinese stocks are heading toward a second consecutive week of growth, as investors anticipate further economic growth policies from Beijing. China’s GDP growth fell short ofexpectationsin July.\nU.S. stocks gained after trading hours on the latest round of earnings announcements Thursday. Amazon reported strong earnings, beating expectations. Online travel firm Booking Holdings, sports betting company DraftKings and crypto exchange operator Coinbase Global all also posted positive second quarter earnings.\nApple’s earnings, however, disappointed with iPhone sales revenue below expectations. The company recorded the third straight quarter of declines. Airbnb and cybersecurity firm Fortinet also posted underwhelming quarterly earnings.\nInvestors now await Friday’s U.S. jobs report for July. Wall Street experts expect the number of nonfarm payrolls to have increased by 200,000, according toCNBC. That number would be the smallest gain since December 2020 and may indicate an economic contraction.\nMeanwhile, the Federal Reserve — on summer recess in August — next meets to discuss interest rates on Sep. 19 and 20. After a 25 basis point hike in July, rates now stand between 5.25% to 5.50%, the highest since January 2001.\nThe CME FedWatch Tool predicts an 82.5% chance that the Fed will leave the interest rate unchanged at the next meeting. It predicts a 17.5% chance of another 25-basis-point hike.\n(Updates to add equities section)', "Lucas Jackson/Reuters US stocks closed lower on Thursday as investors awaited for Apple and Amazon earnings to roll out. The 10-year Treasury surged 11 basis points, continuing its rise following Fitch's US credit downgrade. Commentators say that US dollar and Treasury assets are still a safe haven for investors. US stocks fell on Thursday as bond yields surged and investors waited on quarterly earnings from Apple and Amazon. Fitch downgraded its rating on US debt to AA+ from AAA earlier this week, sparking a sharp sell-off in stocks that began Wednesday and extended early in the day on Thursday. The major indexes fell in early morning trading before retracing losses mid-day, ending Thursday's trading session mostly flat. The 10-year Treasury yield surged 11 basis points to trade at 4.193%. Commentators have said since Fitch slashed the US's credit rating that the move didn't shed any new light on the country's economic situation, and that dollar assets and US Treasurys are still safe havens for investors. Goldman Sachs, JPMorgan boss Jamie Dimon, and Warren Buffett are among those that have brushed off the move as inconsequential. Apple and Amazon stock traded mostly flat as investors waited for the mega-cap firms to release their financials. Both are due to report quarterly earnings after the closing bell. Here's where US indexes stood 4:00 p.m. ET closing bell on Thursday: S&P 500 : 4,501.73, down 0.26% Dow Jones Industrial Average : 35,215.10, down 0.19% (67.42 points) Nasdaq Composite : 13,959.71, down 0.1% Here's what else is happening this morning: Meme stocks were soaring Thursday, with Tupperware and Yellow shares jumping over 800% . Robinhood stock tumbled as monthly active users plunged by a million in the second quarter. The US dollar and Treasurys could remain global safe havens despite Fitch's debt downgrade, Goldman Sachs said. Bitcoin bull Michael Saylor says he wants to acquire as much of the cryptocurrency as he can . Stocks could see a sharp sell-off as the FOMO-driven rally hits heads with rebounding inflation, Wells Fargo warned. The US dollar could be on the brink of a multi-year rally . China's housing market is so bad that people are rushing to the US to buy a home. Story continues In commodities, bonds and crypto: West Texas Intermediate crude oil rose 2.78% to $81.69 per barrel. Brent crude , oil's international benchmark, climbed 2.48% to $85.26. Gold slipped 0.03% to $1,968.70 per ounce. The yield on the 10-year Treasury jumped 11 basis points up to 4.193%. Bitcoin rose 0.11% to $29,197.90. Read the original article on Business Insider", "• US stocks closed lower on Thursday as investors awaited for Apple and Amazon earnings to roll out.\n• The 10-year Treasury surged 11 basis points, continuing its rise following Fitch's US credit downgrade.\n• Commentators say that US dollar and Treasury assets are still a safe haven for investors.\nUS stocks fell on Thursday as bond yields surged and investors waited on quarterly earnings from Apple and Amazon.\nFitch downgraded its rating on US debt to AA+ from AAA earlier this week, sparking a sharp sell-off in stocks that began Wednesday and extended early in the day on Thursday. The major indexes fell in early morning trading before retracing losses mid-day, ending Thursday's trading session mostly flat.\nThe 10-year Treasury yield surged 11 basis points to trade at 4.193%. Commentators have said since Fitch slashed the US's credit rating that the move didn't shed any new light on the country's economic situation, and that dollar assets and US Treasurys are still safe havens for investors. Goldman Sachs, JPMorgan boss Jamie Dimon, and Warren Buffett are among those that have brushed off the move as inconsequential.\nApple and Amazon stock traded mostly flat as investors waited for the mega-cap firms to release their financials. Both are due to report quarterly earnings after the closing bell.\nHere's where US indexes stood 4:00 p.m. ET closing bell on Thursday:\n• S&P 500: 4,501.73, down 0.26%\n• Dow Jones Industrial Average: 35,215.10, down 0.19% (67.42 points)\n• Nasdaq Composite: 13,959.71, down 0.1%\nHere's what else is happening this morning:\n• Meme stocks were soaring Thursday, withTupperware and Yellow shares jumping over 800%.\n• Robinhood stock tumbledas monthly active users plunged by a million in the second quarter.\n• The US dollar and Treasurys could remain global safe havensdespite Fitch's debt downgrade, Goldman Sachs said.\n• Bitcoin bull Michael Saylor says he wants toacquire as much of the cryptocurrency as he can.\n• Stocks could see a sharp sell-offas the FOMO-driven rally hits heads with rebounding inflation, Wells Fargo warned.\n• The US dollar could be on the brink of a multi-year rally.\n• China's housing market is so badthat people are rushing to the US to buy a home.\nIn commodities, bonds and crypto:\n• West Texas Intermediate crudeoil rose 2.78% to $81.69 per barrel.Brent crude, oil's international benchmark, climbed 2.48% to $85.26.\n• Goldslipped 0.03% to $1,968.70 per ounce.\n• The yield on the10-year Treasuryjumped 11 basis points up to 4.193%.\n• Bitcoinrose 0.11% to $29,197.90.\nRead the original article onBusiness
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-04
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $568,048,599,525
- Hash Rate: 314751794.7344015
- Transaction Count: 318486.0
- Unique Addresses: 641787.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.54
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin Cash (BCH) has surged by 36.5% in the past three-days after EDX, theexchange backed by Fidelity, Schwab and Citadel, listed the token alongside bitcoin (BTC), ether (ETH) and litecoin (LTC).
In the past 24-hours it has increased by more than 10% to $143, its highest level since February, according toCoinDesk data.
Open interest, a metric used to assess the nominal value of open trades on a specific asset, has risen by 77% to a nine-month high $135 million according toCoinalyze data.
The rise in open interest suggests a shift in positive sentiment with hopes that the asset can experience institutional adoption after being listed on EDX.
Bitcoin Cash was issued in July 2017 after it forked the original Bitcoin's blockchain. It made a record high of $2,947 during the peak of the 2017 bull market. However, despite early optimism, adoption of Bitcoin Cash as a payments network has paled into insignificance compared to its sibling.
Over the past seven days, the total amount of transactions on the Bitcoin Cash network worth more than $100,000 is at$129 million. Bitcoin, meanwhile, has facilitated $75 billion in transactions during the same period, according toIntoTheBlock data....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["• US stocks finished lower after reversing earlier gains as Apple dragged down indexes.\n• Apple stock tumbled 4.8% as quarterly revenue continued to drop.\n• The monthly jobs report came in at 187,000, slightly under expectations for July.\nUS stocks finished lower on Friday after giving up earlier gains, while capping off a weekly loss for the markets.\nApple stocktumbled by 4.8% after reporting quarterly revenue declined again. Meanwhile,Amazonjumped 9% as earnings beat forecasts.\nElsewhere, the Labor Department's jobs report for July showed payrolls expanded by 187,000, below estimates. But wages grew faster than expected, potentially adding pressure on the Federal Reserve to stay hawkish.\nFor the week, the Dow lost 1%, the S&P 500 fell 2.3%, and the Nasdaq dropped 2.8%.\nHere's where US indexes stood at the 4:00 pm ET closing bell on Friday:\n• S&P 500: 4,478.03, down 0.53%\n• Dow Jones Industrial Average: 35,065.62, down 0.43% (150.27 points)\n• Nasdaq Composite: 13,909.24, down 0.36%\nHere's what else is happening:\n• Ukraine'sattack on a Russian naval vesselhalted commodity shipments from a key Black Sea port.\n• Alphabet sold90% of its stake in Robinhood last quarteras the trading platform loses active users.\n• The US debt-to-GDP ratiocould reach 181% by 2053, leading to disaster, a new research report said.\n• Carl Icahn's firm plummeted30% after halving paymentsto shareholders.\n• Mortgage payments are19% more expensive than last year, Redfin reported.\nIn commodities, bonds and crypto:\n• West Texas Intermediate crudeoil climbed 1% to $82.72 per barrel.Brent crude, oil's international benchmark, gained 0.71% to $86.12.\n• Goldfell 0.05% to $1,941.14 per ounce.\n• The yield on the10-year Treasurysank 14.5 basis points to 4.04%.\n• Bitcoinslipped 0.64% to $29,239.9.\nRead the original article onBusiness Insider", "Spencer Platt/Getty Images US stocks finished lower after reversing earlier gains as Apple dragged down indexes. Apple stock tumbled 4.8% as quarterly revenue continued to drop. The monthly jobs report came in at 187,000, slightly under expectations for July. US stocks finished lower on Friday after giving up earlier gains, while capping off a weekly loss for the markets. Apple stock tumbled by 4.8% after reporting quarterly revenue declined again. Meanwhile, Amazon jumped 9% as earnings beat forecasts. Elsewhere, the Labor Department's jobs report for July showed payrolls expanded by 187,000, below estimates. But wages grew faster than expected, potentially adding pressure on the Federal Reserve to stay hawkish. For the week, the Dow lost 1%, the S&P 500 fell 2.3%, and the Nasdaq dropped 2.8%. Here's where US indexes stood at the 4:00 pm ET closing bell on Friday: S&P 500 : 4,478.03, down 0.53% Dow Jones Industrial Average : 35,065.62, down 0.43% (150.27 points) Nasdaq Composite : 13,909.24, down 0.36% Here's what else is happening: Ukraine's attack on a Russian naval vessel halted commodity shipments from a key Black Sea port. Alphabet sold 90% of its stake in Robinhood last quarter as the trading platform loses active users. The US debt-to-GDP ratio could reach 181% by 2053 , leading to disaster, a new research report said. Carl Icahn's firm plummeted 30% after halving payments to shareholders. Mortgage payments are 19% more expensive than last year , Redfin reported. In commodities, bonds and crypto: West Texas Intermediate crude oil climbed 1% to $82.72 per barrel. Brent crude , oil's international benchmark, gained 0.71% to $86.12. Gold fell 0.05% to $1,941.14 per ounce. The yield on the 10-year Treasury sank 14.5 basis points to 4.04%. Bitcoin slipped 0.64% to $29,239.9. Read the original article on Business Insider", 'Bitcoin\'s 30-year volatility is close to a five-year low, per Bloomberg. Marco Bello/Getty Images The price of Bitcoin is as stable as it\'s been for five years, according to one gauge. That\'s largely because nobody is trading the token anymore. Investors fled crypto after a nightmarish 2022 – and bitcoin\'s still way below its $69,000 record. Bitcoin is finally behaving like gold –\xa0because interest in cryptocurrencies has dried up over the past year. A gauge that measures the token\'s 30-day volatility is trading close to a five-year low, according to a recent report by Bloomberg citing data from digital assets research firm K33 . That means bitcoin is steadier than the S&P 500 benchmark of US-listed stocks, the tech-heavy Nasdaq Composite , and even gold. However, trading volume for bitcoin has also faded to its lowest level since November 2020, per K33. The data reflects the sad reality for digital-asset evangelists. Institutional and retail investors alike turned away from the sector over what was a nightmarish 2022, when rapidly rising interest rates and the spectacular collapse of high-profile companies such as FTX cratered bitcoin\'s price. And while other riskier assets like stocks have rebounded this year, bitcoin still trades at under $30,000 – more than 50% below the peak of almost $69,000 in November 2021. It briefly rallied after the world\'s largest asset manager, BlackRock, said it wanted to launch a spot ETF tracking the token\'s price, but has seen that run fizzle out in recent weeks. Bitcoin\'s newfound sturdiness is a cruel twist on bulls\' long-held belief that it could one day become a form of " digital gold " – crypto\'s version of a "safe haven" that investors turn to in times of trouble. To an extent, their vision for a low-volatility asset has now come to life\xa0 –\xa0but only because nobody really cares about crypto anymore. Read the original article on Business Insider', '• The price of Bitcoin is as stable as it\'s been for five years, according to one gauge.\n• That\'s largely because nobody is trading the token anymore.\n• Investors fled crypto after a nightmarish 2022 – and bitcoin\'s still way below its $69,000 record.\nBitcoinis finally behaving likegold–\xa0because interest in cryptocurrencies has dried up over the past year.\nA gauge that measures the token\'s 30-day volatility is trading close to a five-year low, according to a recent report byBloombergciting data from digital assets research firmK33.\nThat means bitcoin is steadier than theS&P 500benchmark of US-listed stocks, the tech-heavyNasdaq Composite, and even gold.\nHowever, trading volume for bitcoin has also faded to its lowest level since November 2020, per K33.\nThe data reflects the sad reality for digital-asset evangelists.\nInstitutional and retail investors alike turned away from the sector over what was a nightmarish 2022, when rapidly rising interest rates andthe spectacular collapse of high-profile companies such as FTXcratered bitcoin\'s price.\nAnd while other riskier assets like stocks have rebounded this year, bitcoin still trades at under $30,000 – more than 50% below the peak of almost $69,000 in November 2021.\nItbriefly ralliedafter the world\'s largest asset manager, BlackRock, said it wanted to launch a spot ETF tracking the token\'s price, but has seen that run fizzle out in recent weeks.\nBitcoin\'s newfound sturdiness is a cruel twist on bulls\' long-held belief that it could one day become a form of "digital gold" – crypto\'s version of a "safe haven" that investors turn to in times of trouble.\nTo an extent, their vision for a low-volatility asset has now come to life\xa0 –\xa0but only because nobody really cares about crypto anymore.\nRead the original article onBusiness Insider', '• The price of Bitcoin is as stable as it\'s been for five years, according to one gauge.\n• That\'s largely because nobody is trading the token anymore.\n• Investors fled crypto after a nightmarish 2022 – and bitcoin\'s still way below its $69,000 record.\nBitcoinis finally behaving likegold–\xa0because interest in cryptocurrencies has dried up over the past year.\nA gauge that measures the token\'s 30-day volatility is trading close to a five-year low, according to a recent report byBloombergciting data from digital assets research firmK33.\nThat means bitcoin is steadier than theS&P 500benchmark of US-listed stocks, the tech-heavyNasdaq Composite, and even gold.\nHowever, trading volume for bitcoin has also faded to its lowest level since November 2020, per K33.\nThe data reflects the sad reality for digital-asset evangelists.\nInstitutional and retail investors alike turned away from the sector over what was a nightmarish 2022, when rapidly rising interest rates andthe spectacular collapse of high-profile companies such as FTXcratered bitcoin\'s price.\nAnd while other riskier assets like stocks have rebounded this year, bitcoin still trades at under $30,000 – more than 50% below the peak of almost $69,000 in November 2021.\nItbriefly ralliedafter the world\'s largest asset manager, BlackRock, said it wanted to launch a spot ETF tracking the token\'s price, but has seen that run fizzle out in recent weeks.\nBitcoin\'s newfound sturdiness is a cruel twist on bulls\' long-held belief that it could one day become a form of "digital gold" – crypto\'s version of a "safe haven" that investors turn to in times of trouble.\nTo an extent, their vision for a low-volatility asset has now come to life\xa0 –\xa0but only because nobody really cares about crypto anymore.\nRead the original article onBusiness Insider', "Block, Inc. (NYSE: SQ ) Q2 2023 Earnings Call Transcript August 3, 2023 Block, Inc. beats earnings expectations. Reported EPS is $0.39, expectations were $0.35. Operator: Good day, ladies and gentlemen, and welcome to the Block Second Quarter 2023 Earnings Conference Call. I would now like to turn the call over to your host, Nikhil Dixit, Head of Investor Relations. Please go ahead. Nikhil Dixit: Hi, everyone. Thanks for joining our second quarter 2023 earnings call. We have Jack and Amrita with us today. We will begin this call with some short remarks before opening the call directly to your questions. During Q&A, we will take questions from our customers in addition to questions from conference call participants. We would also like to remind everyone that we will be making forward-looking statements on this call. All statements other than statements of historical fact could be deemed to be forward-looking. These forward-looking statements include discussions of our outlook and guidance, as well as our long-term targets and goals, and we may decide to shift our priorities or move away from these targets and goals at any time. Best Digital Currency and Payments Stocks to Buy Now These statements are subject to risks and uncertainties. Actual results could differ materially from those contemplated by our forward-looking statements. Reported results should not be considered as an indication of future performance. Please take a look at our filings with the SEC for a discussion of the factors that could cause our results to differ. Also, note that the forward-looking statements on this call are based on information available to us as of today's date. We disclaim any obligation to update any forward-looking statements except as required by law. During this call, we will provide preliminary estimates of gross profit growth, GPV, and GMV performance for the month of July. These represent our current estimates for July performance as we have not yet finalized our financial statements for the month of July and our monthly results are not subject to interim review by our auditors. As a result, actual July results may differ from these estimates and may not be reflective of performance for the full third quarter. Moreover, this financial information has been prepared solely on the basis of currently available information by and is the responsibility of management. This preliminary financial information has not been reviewed or audited by our independent public accounting firm. This preliminary financial information is not a comprehensive statement of our financial results for July or the third quarter. Within these remarks, we will also discuss metrics related to our investment framework, including Rule of 40. With Rule of 40, we are evaluating the sum of our gross profit growth and adjusted operating income margins. Also, we will discuss certain non-GAAP financial measures during this call. Reconciliations to the most directly comparable GAAP financial measures are provided in the shareholder letter, historical financial information spreadsheet, and Investor Day materials on our Investor Relations website. These non-GAAP measures are not intended to be a substitute for our GAAP results. Finally, this call in its entirety is being audio webcast on our Investor Relations website. An audio replay of this call and the transcript for Jack and Amrita's opening remarks will be available on our website shortly. With that, I would like to turn it over to Jack. Jack Dorsey: Thank you for joining us today. I'll spend my time today highlighting the progress we've made on two themes; first, our investment framework, and second, our ecosystem of ecosystems model. You'll find everything else from the quarter in the shareholder letter we posted an hour ago. As we shared earlier this year, we define our investment framework as Block and each ecosystem must show a believable path to gross profit retention of over 100% and Rule of 40 on adjusted operating income. Today, I wanted to share our progress towards this target and demonstrate how our investment framework forces us to make trade-offs and guides our decision-making across the company. Leaders across our company are now looking at the true full-cost of their businesses, inclusive of share-based compensation. This has led us to pull back on our pace of hiring to be more targeted in hiring for critical roles and to focus more on performance management. For sales and marketing, we are focused on efficiency to drive acquisition while decreasing spend. We've pulled back on-brand spends and more experimental channels across our ecosystems in favor of channels with more proven returns. This past quarter, we also decided to wind down operations in certain markets, including Cash App's diverse brands in the EU and our Buy Now, Pay Later platform, Clearpay in Spain, France, and Italy. These required significant investment and the markets have not seen the growth and profitability we had expected over the past several years. We see an opportunity to shift these resources towards strategic areas that have a higher potential return on investment. And we continue to drive towards our goal, we may identify other areas where we aren't seeing the expected and necessary returns. We also continue to improve our cost structure for each of the ecosystems by identifying opportunities to expand our structural margins. These include the investments we make in technologies like automation and machine learning to manage risk, and finding ways to optimize our partnerships. As a result of our investment discipline, we are increasing our profitability expectations for this year, which Amrita will speak about. We'll continue to share updates with you as we make progress towards our target. As a company, our strength and resilience comes from our diversified ecosystems, each serving different audiences and the connections we create between them. There are some notable examples of this work in the second quarter. In June, we turned on Cash App Pay as a payment method for Square invoices, giving customers the ability to pay outstanding invoices directly from their Cash App balance. In the second quarter, we launched Cash App Pay with several well-known Afterpay sellers, expanding the connection between Cash App and our Buy Now, Pay Later platform, and also recently launched strategic partnerships with payment providers Stripe, Adyen, and PayNearMe, an important step-in reaching a wider range of merchants. We started enabling Square Payroll employees to file taxes for free by using automated [W2] (ph) import directly in the Cash App Taxes. After receiving a notification from Square Payroll, employees simply log into Cash App Taxes, securely import their W2, and complete and submit their tax forms. Earlier this year, we shared plans for the public beta testing of our Bitcoin Wallet, Bitkey. And in June, we announced our first two global partners, Coinbase and Cash App to allow customers to buy and immediately transfer Bitcoin from those custodial platforms into Bitkey's self-custody wallet. I'll now pass it to Amrita who will provide more details on our financials. Amrita Ahuja: Thanks, Jack. There are three topics I'd like to cover. First, an overview of our strong second quarter results across growth and profitability. Second, trends we're seeing across our business in July. And third, a look at our investment discipline and profit expectations for the remainder of the year. In the second quarter, we had strong growth at scale with gross profit of $1.87 billion, up 27% year-over-year. Our strong profitability this quarter is a demonstration of our ability to drive leverage and operating efficiency in our business. Adjusted EBITDA was $384 million, more than two times year-over-year. Adjusted operating income, which, as a reminder, includes expenses related to stock-based compensation and depreciation was $25 million compared to a loss of $103 million a year ago. Let's get into Square and Cash App. Square generated $888 million in gross profit, up 18% year-over-year. Looking at some of the drivers, gross profit from our vertical point-of-sale products was up 37% year-over-year, with each of our restaurants, retail, and appointments products delivering gross profit of more than $100 million on an annualized basis during the quarter. Square GPV was up 12% year-over-year, looking at the components of growth across retention, churn, and acquisition. GPV per existing seller, which effectively measures same-store growth has stepped down since the third quarter of 2022 and has been the primary driver of the moderation in GPV growth since then. We achieved positive growth in acquisition and saw relative stability in churn of existing sellers compared to historical levels. We're seeing strength in our Square banking products, which totaled $167 million in gross profit during the quarter, an increase of 24% year-over-year. Banking products represented 19% of Square gross profit excluding PPP, up from 17% in the prior year. The four biggest drivers of Square banking during the quarter were Instant Transfer, Square Debit Card, Square Savings, and Square Loans. We saw benefits from raising pricing on Instant Transfer earlier this year from recent launches of our banking products outside the U.S. and from interest on Square Savings balances. Lastly, for Square, growing up-market has remained strong with gross profit from mid-market sellers up 20% year-over-year. We believe the total addressable market for the larger sellers segment remains large and highly fragmented and our recent shift in go-to-market efforts is intended to drive further growth upmarket. Cash App generated $968 million in gross profit, an increase of 37% year-over-year. Each component of our inflows framework, Actives, Inflows per Transacting Active, and Monetization Rate grew on a year-over-year basis. During the month of June, we reached 54 million monthly transacting actives, up 15% year-over-year. We've continued to see significantly higher attention for actives with larger network sizes. During the quarter, those with a network of four or more represented more than half of Cash App quarterly transacting actives. Peer-to-peer functionality has allowed us to scale our network rapidly and has driven engagement. In the second quarter, peer-to-peer transactions per actives reached an all-time quarterly high, which helped drive $53 billion in peer-to-peer volume across Cash App during the second quarter, an increase of 18% year-over-year. Inflows per Transacting Active averaged $1,134 in the second quarter, up 8% year-over-year and relatively stable compared to the first quarter, which typically has a seasonal benefit from tax refunds. We believe there is significant runway for growth in Inflows per Transacting Active over time through increased product adoption and growing share of wallet. This tax season more than one-third of Cash App Taxes Actives chose to receive their refund directly into Cash App, a meaningful increase year-over-year, driving new actives to direct deposit. Product adoption has been especially strong for our financial services products, both Cash App Card and direct deposit experienced strong growth in actives and volumes. Monetization rate, which excludes gross profit contributions from our BNPL platform was 1.44%. Monetization was up 16 basis points year-over-year, driven primarily by pricing changes over the past year, and up 3 basis points quarter-over-quarter, driven primarily by the timing of strong first quarter inflows during the tax season. Lastly, our BNPL platform contributed $84 million of gross profit to each of Square and Cash App in the second quarter. GMV from our BNPL platform was $6.4 billion in the second quarter, an increase of 22% year-over-year. Losses on consumer receivables were 1.01% of GMV, relatively consistent with the prior year. Next, an update on July trends. For the month of July, we expect total gross profit growth of 21% year-over-year, which we would orient you to for the third quarter and the remainder of 2023. Looking at each ecosystem, for the month of July, we expect Square gross profit to grow 15% year-over-year, which we expect to be relatively consistent through the third quarter. The moderation in gross profit growth from the second quarter is primarily due to transaction margin compression as we lapse certain benefits from more favorable interchange economics last year. Square GPV is expected to be up 12% year-over-year, consistent with the second quarter as we've seen stability in GPV growth over the past three months from May through July. For the fourth quarter, we expect gross profit and GPV growth to improve slightly compared to the third quarter as Square benefits from more favorable comparisons. For Cash App, we expect gross profit to grow 27% year-over-year in July, and similar to Square, we expect it to be relatively consistent through the third quarter. In 2023, we continue to expect growth on a year-over-year basis from monthly Transacting Actives, Inflows per actives, and Monetization Rate. We expect Cash App's monetization rate in the back half of the year to be more consistent with the second quarter and we expect gross profit to grow more in line with the overall inflows as a result. Given the focus on efficiency, the wind down of Verse will have an impact on monthly actives going forward, although we do not expect an impact to inflows or gross profit. Four the fourth quarter we expect a slight moderation in Cash App's gross profit growth, driven by stabilization in Cash App's monetization rate, and as we lapse stronger growth in the prior year period. For our BNPL platform, we expect year-over-year GMV growth in July to be similar to the second quarter's 22%, with GMV growing faster than gross profit due to regional mix. Turning to our progress against Rule of 40 and our profit expectations for the remainder of the year. Our investment framework sets up an ambitious goal, and we're focused on progressing towards it over the long-term. We'll continue to share updates with you and hold ourselves accountable. Expanding on what Jack touched on, we've worked to deliver efficiencies through the first half of the year. On hiring, we drove leverage compared to our expectations entering the year by encouraging efficiencies among existing teams and prioritizing hiring in more critical areas. We expect our headcount growth in 2023 to be below the 10% target set out earlier this year. With sales and marketing, we've pulled back on lower ROI channels to increase our efficiency, while Cash App's variable sales and marketing expenses namely peer-to-peer and Cash App Card issuance costs were up year-over-year, overall company customer acquisition spend was down year-over-year, driving leverage across Square and Cash App. Despite this pull back, we saw healthy acquisition across each ecosystem as we shifted our mix of spend. And looking at corporate overhead spend, we began to identify cost savings opportunities by downsizing our real estate footprint across some of our West Coast office locations. Given some of these items on a GAAP basis, operating loss was $132 million in the second quarter, which includes the impact of acquisition-related amortization expenses, as well as restructuring expenses for the wind down of Verse and Clearpay in certain markets and write-downs for certain real estate facilities among other items. We expect to find further leverage opportunities in these and other overhead expenses over time. Moving to our full-year 2023 profit guidance. As we have progressed further into the year, we have better line-of-sight into our planned expenses and our updated guidance today reflects this. We're increasing our expectations for profitability in 2023 and now expect to deliver adjusted EBITDA of $1.5 billion and adjusted operating income of $25 million for the full-year 2023. We expect to achieve profitability on an adjusted operating income basis for the year, which is inclusive of share-based compensation expenses. We continue to expect year-over-year margin expansion on both an adjusted EBITDA and adjusted operating income basis. Our updated full-year guidance represents a step-up of $140 million for each figure compared to our prior guidance. This represents both the gross profit momentum in our business during the second quarter and the focus on expense discipline we delivered in the first half of the year, which we expect to continue to drive in the second half of the year. Finally, touching on the third quarter, we expect third quarter non-GAAP operating expenses of $1.55 billion and we expect share-based compensation to increase by approximately $25 million relative to the second quarter. As Jack mentioned, share-based compensation remains an area on which we are focused and expect to drive greater leverage over time. We're excited about the progress we've made towards our investment framework and Rule of 40 this quarter and are eager to continue to work. With that, I'll now turn it back to the operator to start the Q&A portion of the call. See also 10 Oversold Large Cap Stocks to Buy and 10 Oversold MidCap Stocks To Buy . Story continues Q&A Session Operator: Thank you. [Operator Instructions] We'll take our first question from Tien-Tsin Huang at JP Morgan. Tien-Tsin Huang: Hey, thanks so much here. So, given your July month update tracking a little bit slower than the second quarter and also your profit update which you raised. Just love to hear your updated thoughts on operating leverage. I know I asked that quite a bit, but just operating leverage here in the second half versus the first half. Is operating leverage going to be driven more by the top-line or by expense focus that you also talked about across the two ecosystems? Thanks. Amrita Ahuja: Hey, thanks for the questions, Tien-Tsin. So obviously, as we see strong second quarter results across both top-line and profitability, we're pleased with our ability to show discipline in our operating expenses, finding efficiencies while continuing to strongly grow the business. And we expect to deliver continued discipline on our expenses in the back half of this year and that's what led to raising our profitability targets for the full-year by $140 million, reflective of -- on each of adjusted EBITDA and adjusted operating income, which reflects not only the strong performance in the second quarter, but raises our guidance for the remainder of the year. And as you heard our second quarter -- our July expected gross profit growth of 21% year-over-year growth, we would urge you to look at from a third -- full third quarter perspective, and remainder of 2023 perspective as well to see some stability from a gross profit perspective at the Block level from July forward. As we noted, there is some lapping effects within Cash App and Square related to pricing dynamics within Cash App and related to interchange economics within Square. From an operating leverage perspective, we see a number of opportunities for us, not only that we've executed on in the first half of this year and expect to continue to drive into the second half, but also as we look forward longer-term. Namely three that I'd call out to you is the three biggest areas in our expense base of leverage: first, sales and marketing; second, around hiring and headcount; and third, around our corporate overhead. From a sales and marketing perspective, we're focused on finding efficiencies and optimizing our spend. What you saw in the second quarter was our overall customer acquisition spend was down year-over-year with leverage across Square and Cash App. And despite this, we continue to see healthy acquisition across Square and Cash App as we oriented more of our remaining spend towards more proven channels and more proven areas of return. Secondly, with hiring, we've taken a more disciplined approach to growing our teams. In the first half of the year, we drove leverage compared to our expectations, and are encouraging more efficiencies out of our existing teams. Over time we'd expect to see a slower pace of hiring, which drive leverage here as well as on stock-based compensation. From an overhead perspective, as we noted in the quarter, in the second quarter, we downsized our real estate footprint on the West Coast for some relatively modest savings, but longer-term we expect to drive leverage across a number of meaningful areas of spend here, whether it's software and data usage or real estate facilities, professional fees, T&E and a range of other discretionary areas. Ultimately, our investment framework and our target of achieving Rule of 40, which is a growth plus margin framework, will help us make these important trade-offs as we continue to invest to drive long-term profitable growth in the back half of this year and into 2024 and beyond, while doing so prudently and with discipline in our operating expense base. Tien-Tsin Huang: Got it. Thanks. Appreciate it. Operator: We'll take our next question from [indiscernible] with Wolfe Research. Darrin Peller: Hey, guys, this is Darrin Peller on from Wolfe. You had 12% GPV growth into July, I think you just said, Amrita, right? And then, in comparison that was around 6% to 7% growth, so obviously, your share is still gaining and holding up versus the industry, if you could just touch on what's working well there? And then also maybe expand on the verticalization efforts in the segment? While we're on that topic though, I mean, the verticalization efforts obviously is going to come with some investments. So if you could just remind us your view on profitability levels beyond 2023 and I know the Rule of 20 there, but just without a time frame, it's hard to really handicap how to think about progress in 2024 and 2025? Amrita Ahuja: Hey, thanks for the question, Darrin. So, I think what I'll do is I'll first hit what we're seeing in terms of Square GPV in the second quarter and into July, and then we'll hit upon the verticalization efforts for the Square business. So what we're seeing in terms of July trends was fairly consistent with what we've seen really through May. We've seen stability in GPV trends from May through July, with July coming in at that 12% year-over-year basis, consistent with the second quarter also at 12%. If you unpack that by vertical in the second quarter, food and drink TPV grew by 17% year-over-year. Retail GPV grew by 9% year-over-year. Services also by 9%. Services, of course, encompassing a number of sub-sectors, beauty, health and fitness, home and repair, professional services. We have seen some moderation trends across the discretionary and non- discretionary verticals which we have talked about since really that mid-Q4 timeframe, and that's really broad-based across a number of different verticals. From a geographic perspective, what we've seen is, international markets had continued to also see some of those macro-related headwinds, which were more pronounced in Australia in the second quarter, albeit with overall growth ex-BNPL, continuing to be at a much faster rate of growth in the overall base of the business at 35% year-over-year growth for those international markets in the second quarter. And again, from a month-to-month perspective, generally seen greater stability from May through July on those GPV trends for Square. Driving the -- diving into your verticalization question now, which I think is a key question for us as we think about continuing to grow up-market, where we have seen outsized growth. From a gross profit perspective, up-market grew 20% year-over-year in the second quarter for us. This is a key area for us as we continue in our strategic focus on bringing larger sellers onto our platform and acquiring those sellers across our key verticals of restaurants, retail, and beauty. Within our sales team, our focus has been on providing our reps with the right tools, industry knowledge and signals to prospect, and to acquire sellers across those three verticals. Let's take inbound and outbound sales, within inbound, we began verticalizing our US inbound sales team last year. We completed that in April of this year and since that completion, we've seen an improvement in gross profit added per account executive and in software attach rates, still early but encouraging trends there. Now for outbound, we finalized verticalizing our US outbound sales team in July, so just this past month. Our account executives have now completed their industry training programs, which enables them to really deepen their knowledge within the assigned vertical that they've got. And we anticipate our account execs will continue to ramp through Q3 and hopefully be fully ramped into Q4. With those changes, our goal is to increase gross profit account added per account exec and software attach rates as we've seen with the inbound sales team, and as we see those signals and gain confidence there on our processes and results, we'll look to continue to scale the outbound sales team over time. Ultimately, we will be iterating on this in the coming quarters and years as this is a long-term initiative for us to continue to go up-market and with our vertical points of sale and to drive those sustained results over time. We'd expect to see these results paying-off and driving growth into 2024. And expect our overall go-to-market spend to target that three times ROI over four years. Darrin Peller: Okay. Thanks, Amrita. Operator: And we'll take our next question from Tim Chiodo with Credit Suisse. Tim Chiodo: Great. Thank you for taking the question. I want to talk about seller sales and marketing or Square sales and marketing a little bit. So this year's marketing expense, you mentioned, it's benefiting from some of the annualization of the pullback that you had on brand, awareness, and some of the experimental stuff, so a shift towards more efficient spent. But sometimes there is a concern from investors that, because the dollar amount is lower, that the size and health of the new cohorts coming in might actually be a little bit smaller, but we gather that the payback periods have really come in more than the four to five range, and they had expanded to maybe six to seven at one point last year. So with all that context, maybe you could talk about the health and the size of the cohort that you're bringing in now for Square. Amrita Ahuja: Sure, happy to take that. Thanks for the question, Tim. Let me start with the cohort trends on payback periods and then we can dive into what we're seeing in the first half of the year in terms of spend and customer acquisition. So, in 2022 -- for our 2022 cohort, we're seeing trends toward a six to seven-quarter payback, which is slightly higher than our expectations as these cohorts have cured. Square sales and marketing spend was up approximately 20% year-over-year in 2022 compared to 2021. From a 2023 cohort perspective, we're targeting approximately a five-quarter payback as we expect payback to improve compared to last year, and have a more meaningful impact to growth in 2024. And as I just mentioned, our longer-term target across the go-to-market investments for Square remains the 3 times ROI over four years. When you look at the first half of this year, we have pulled back on sales and marketing spend. Through the first half of the year, Square sales and marketing is down 6% year-over-year, and we expect continued pullback for the rest of the year. Again, we're focused on optimizing our mix of investments across channels and driving efficiency, so we pulled back meaningfully on our brand and awareness channels on a year-over-year basis, as well as sales, and we've reduced the size of the team meaningfully as we focus on reorganizing the teams and enhancing our data and incentives as I was just speaking to on the sales team. Despite those pullbacks, we've seen strong growth in acquisition over the past two quarters, with year-over-year growth in acquisition improving in the second quarter compared to the first quarter. This is with Square sales and marketing down slightly year-over-year in the second quarter and down 6% through the first half of the year. Operator: And we'll take our next question from... Tim Chiodo: Perfect. Thank you. Operator: Thank you. And we'll take our next question from Lisa Ellis with MoffettNathanson. Lisa Ellis: Hey, good afternoon, thanks for taking my question. I was hoping to drill in a little bit on the initiatives you have underway to connect Block’s to ecosystems. In the shareholder letter and prepared remarks, you called out a few different ones with Cash App Pay also I saw 15% growth in Cash for Business, and a couple of other highlights in there, can you just kind of take a step back and update us some of your current overall strategy for connecting ecosystems and maybe some data points on the benefits you see in the organization, the kind of network effects, as well as maybe some of the profitability that you see. Thank you. Jack Dorsey: Yes, I can start with that. So as we've talked about, we do believe our power and especially resilience in our business as it is the fact we have multiple different ecosystems serving different audiences, and I've been spending a lot of my time and focus on looking for opportunities with the teams to connect them. Some of the ones we mentioned earlier on the remarks are mostly between Square and Cash App, so Payroll and Cash App Taxes was a big one. Cash App and Square through Afterpay is the biggest part of my focus right now and I'm really excited about the strategy. We continue to refine it and look for opportunities to build a really compelling experience within the Cash App that builds network effects and increases our network effects within Cash App, but also enables us to have an app that people are checking every day, because there's something interesting and especially as we balance that with Square and our network of sellers like it's even more unique and more compelling. Cash App and our Bitcoin hardware, specifically the Bitcoin Wallet, we announced a partnership in a launch. There will be a global first product. We will be launching in the most countries we've ever launched in to start. And we're constantly looking for other ones, there's a lot around Cash App Pay and Square, especially around local offers and local merchants and we continue to find more and more connections and that doesn't speak to the future ones, which would be titled in looking at opportunities for Square, especially musicians looking forward to sell merchandise for ticketing, and TBD, we believe with its protocol will enable both Cash App and Square and even entitled to move much faster and move much faster globally. So we're excited about that. So we have a mix of external products facing features that connect the two ecosystems and a lot of internal stuff as well. We're using more shared resources or shared learnings and able to move much faster as an individual ecosystem because the work is already done by a peer ecosystem. Lisa Ellis: Thank you. Operator: We will take our next question from Ken Suchoski with Autonomous Research. Ken Suchoski: Hi, good afternoon. Thanks for taking the question. It's good to see the strong growth coming out of Square's International markets yet again. I believe Square recently highlighted that many of its verticalized software products are now available in some of the company's largest international markets. Can you just talk about the opportunity here from a software penetration perspective compared to the US and how -- I guess, how have been these verticalized software products in these local markets can help you sustain the momentum behind the international business in terms of GPV growth and gross profit growth? Jack Dorsey: Yes, thanks for the question. I'll start. So our priority with Square is to achieve parity across each of our markets, meaning, that we launch all our features in any one particular market globally. There is various challenges to doing that, Square Loans being an example, different regulatory environments, that just increases the workload. And every new market that we take on, it does have some cost to us doing more features for the general product, so we're always avoiding that costs and making sure that we're picking the right markets at the right time. We made a lot of strides in Q2 with the launch of 30 products across our global markets for Square. One of the most notable was Tap to Pay on Android and that's available to sellers in the US, Australia, the UK, Ireland, France, and Spain. This is a big deal as TAP becomes the dominant way to pay, more and more people are using their phones, especially outside of the United States and Europe and Australia. And then, we also launched our second-generation Square Reader in the UK, Canada, Australia, Japan, France, Ireland, and Spain, and this improves the battery life, stronger connection, NFC performance, and it allows sellers around the world to take secure payments from just about anywhere, it's extremely affordable. Australia continues to be very strong in the 12 months ending in June, almost half of Square's gross profit in Australia came from sellers that used for monetized products, which is up from less than one-third two years ago. And we've seen our Square banking products contribute to some of the strong gross profit growth we've seen in international markets as well. So we continue to push. Going international has to be more deliberate and therefore a little bit slower. We've learned a lot as we go into every market and each market that we open, we can move much faster and ideally grow faster as well. Amrita Ahuja: And I'd just add, Ken, that as you noted, this is a big opportunity for us. We believe that in these markets outside the US that we're in, we're less than 1% penetrated in the opportunity with a long runway for growth. So, as I noted, our gross profit growth for Square excluding the BNPL platform in our markets outside the US was 35% year-over-year in the second quarter, now at about 11% of Square's total gross profit ex-BNPL with GPV up 26% year-over-year and 32% on a constant currency basis, and that really encompasses, as Jack was saying, the rollout of additional products across the full suite, whether it's payments, software, hardware, as well as banking products now more recently, where we're seeing strong traction and where we've got our work to continue to build upon this momentum. Ken Suchoski: Great. Thank you, both. Operator: We take our next question is from Bryan Keane with Deutsche Bank. Q - Bryan Keane Hi, guys, thanks for taking the question. We were excited to see the 1 million Cash App Pay Active use base, just curious on the timeline for merchant distribution and acquirer expansion for Cash App Pay. And then maybe you can just go over the revenue model for Cash App Pay in particular? Thank you. Jack Dorsey: Yes. So with Cash App Pay, our goal is to provide a lot more flexibility for customers. And as I mentioned in my opening remarks, we have expanded our distribution recently with partnerships with Stripe, Adyen, and PayNearMe, which allows us to reach a much broader range of merchants and also industries. We launched some additional Afterpay merchants in Q2, including Steve Madden and Fenty Beauty, and we still see significant room to grow the adoption of Cash App Pay, and we're actively pursuing a pipeline of new merchants, Afterpay certainly helps with that. During the second quarter, nearly $500 million in annualized volume was processed through Cash App Pay, and nearly 1 million Cash App Pay monthly actives as of June. So it allows us to reach customers beyond those that the Cash App Card is serving. We've seen really strong adoption amongst our younger audience, gen-z demographic. So, we've seen promising results and we're still looking for opportunities to make sure that we continue to see those and push it. Amrita Ahuja: And I'll just add, Bryan, that we see merchants eager to onboard with Cash App Pay because of the access to the very attractive customer base that we have, 54 million monthly transacting actives as of June, who are highly engaged on our platform and inflows over $1,100 during the second quarter, and so with Cash App Pay being present as a payment device on their platform, they get access to these customers who don't even necessarily have to have been signed-up by a Cash App Card, and that's really the proposition that we're selling into these merchants -- these large merchants, who are finding real product fit here with Cash App Pay. Bryan Keane: Great. Thank you. Operator: We'll take our next question from Harshita Rawat with Bernstein. Harshita Rawat: Hi, good afternoon. Can you expand upon your comments around headcount growth in the business? It's been very strong over these past few years. How are you seeing potential for efficiencies, for example, in your engineering teams with AI? And Amrita, I know you talked about the headcount growth for this year, but how should we think about headcount growth trajectory over the medium-term? Thank you. Jack Dorsey: Yes, I think the biggest change has been our investment framework and making all teams and leaders and managers aware of the true cost of the business and taking into account stock-based compensation, so we have slowed hiring and we have targeted more -- we've been more targeted in our hiring to get much stronger talent and looking deeply at performance management as well. Of course, there's always efficiencies to bring to the table, but we just want to make sure that we're looking at each ecosystem and really putting the decisions in the hands of the folks running those teams and really running the company with everyone having the investment model in their head to make sure that we are achieving the growth that we want to see at the cost that we want to minimize. So it is early as we just rolled out this investment framework, but it does seem to be working and this is something that's in the consciousness of the organization. Harshita Rawat: Great. Thank you. Operator: We'll take our next question from Rayna Kumar with UBS. Rayna Kumar: Good evening. Thanks for taking my question. Could you talk a little bit about the next steps in the Afterpay integration and could you discuss more broadly, what are the next thing to look out as you integrate Afterpay? Jack Dorsey: Yes, as I said, this is where a lot of my focus is right now. I'm meeting the team members on a daily basis to make sure that we come up with a compelling and differentiated experience. A lot of the work is going to be found within Cash App and the Cash App Discover tab, it's a little magnifying glass in your interface. We want to build a compelling experience that people want to go back to daily to find offers, to find deals, to find items, to find merchants around them, and that would be a place that also continues to push on our ecosystem of ecosystem model so that we're benefiting -- the Square ecosystem and the Square ecosystem benefits Cash App. So that will probably be where you'll see the highest velocity changes. A lot of it has to do with our ability to rank this items and merchants and deals and offers on a relevant basis, and obviously, we will be applying machine learning and deep learning to do that based on all the signals we get. But that's where the ecosystems really come together in our highest impact way, we believe, and it leads to many other opportunities down the line, so that's where I would look. Rayna Kumar: Thank you. Operator: We'll take our next question from Ramsey El-Assal with Barclays. Ramsey El-Assal: Hi, thanks for taking my questions this evening. I wanted to ask you to dive in a little bit deeper on the move up-market and seller, and just kind of comment on how the larger retailers and merchants are utilizing Block services maybe differently than the smaller merchants. How does the value proposition sort of change, what's resonating, and then just what strategy you might use to sort of lean into this move up-market? Jack Dorsey: So, in terms of the verticalization and attracting -- getting people more up-market, I think the biggest one is, we just have a much more focused effort around these verticals and there we maintain flexibility. A lot of our competitors are working on one vertical. We're working on all three, all three of the dominant
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-05
**Financial & Commodity Data:**
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**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $565,250,840,700
- Hash Rate: 400593193.2983291
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- Contextual Past News Article: ProShares and Bitwise have filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on bitcoin (BTC) and ether (ETH). According to ProShares' filing , the Bitcoin and Ether Equal Weight ETF will measure "the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts." Bitwise also filed for a Bitcoin and Ether Market Weight ETF . In recent months, excitement has mounted over the possibility a spot bitcoin exchange-traded fund could soon be approved. At present, the U.S. only allows for investment in bitcoin futures ETFs , which are backed by bitcoin derivatives. The latest filing adds to ProShares' roster of crypto-related funds, which include a bitcoin futures ETF. In December, the group filed an application with the SEC for an ETF focused on the metaverse. UPDATE (Aug 4, 04:40 UTC) : Adds Bitwise details to story and headline....
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['After years of rampant speculation and frantic tea-leaf reading by cryptocurrency fans—and Dogecoin fans in particular—tech billionaire Elon Musk coldly put to rest any prospects of Twitter (or X) launching its own crypto token. The news came not in a formal announcement, or even a Twitter post, but in a reply to another user. "Elon Musk and 𝕏 never launched a crypto token," warned user @DogeDesigner —who has 240,000 followers and several past interactions with both Musk and now-CEO of X Linda Yaccarino. The tweet included an image of news article headlines falsely claiming that it had. Musk replied with a stern one-liner : “And we never will.” Twitter\'s \'X\' Rebrand: All the Things Elon Musk Has Planned for the \'Everything App\' Despite this clear-cut rejection of a Twitter-led cryptocurrency—coming in the middle of a major rebranding effort—it is not an outright denouncement of cryptocurrency support or related features in a future X " everything app ." And Musk\'s previous history with digital assets might also leave room for doubt. Elon is well known for his fanaticism for Dogecoin ( DOGE ), a memecoin that was spawned as a joke for the crypto community to stop taking itself so seriously. The self-proclaimed “Dogefather” drew widespread attention last year when he bought Twitter for $44 billion, and not long after, swapped the iconic blue-bird logo for an image of the Shiba Inu dog that characterizes Dogecoin–causing the token to soar by 20% and the billionaire to earn himself a $258 billion lawsuit for alleged insider trading and racketeering. Dogecoin Surges 9% After Cryptic Elon Musk Tweets Link DOGE and X Indeed, he has sent the crypto community plenty of mixed signals over the years. In 2021, Doge developers exclusively told Decrypt they were working with Musk for years to make a cheaper, greener alternative to Bitcoin. And earlier this year, news surfaced that the company was working on a product that would supportive of crypto payments—although there wasn’t much information on which token would be used. While crypto fanatics can probably rule out a TwitterCoin or XCoin for now, the door is still not fully closed to cryptocurrency in Musk\'s next act. View comments', 'After years of rampant speculation and frantic tea-leaf reading by cryptocurrency fans—and Dogecoin fans in particular—tech billionaireElon Muskcoldly put to rest any prospects of Twitter (or X) launching its own crypto token.\nThe news came not in a formal announcement, or even a Twitter post, but in a reply to another user.\n"Elon Musk and 𝕏 never launched a crypto token," warned user@DogeDesigner—who has240,000 followers andseveral past interactionswith both Musk andnow-CEOof X Linda Yaccarino.The tweetincluded animageof news article headlines falsely claiming that it had.\nMusk replied with astern one-liner: “And we never will.”\nTwitter\'s \'X\' Rebrand: All the Things Elon Musk Has Planned for the \'Everything App\'\nDespite this clear-cut rejection of a Twitter-led cryptocurrency—coming in the middle of amajorrebranding effort—it is not an outright denouncement of cryptocurrency support or related features in a future X "everything app." And Musk\'s previous history with digital assets might also leave room for doubt.\nElon is well known for his fanaticism for Dogecoin (DOGE), a memecoin that was spawned as a joke for the crypto community to stop taking itself so seriously.\nThe self-proclaimed “Dogefather” drew widespread attention last year when hebought Twitterfor $44 billion, and not long after, swapped the iconic blue-bird logo for an image of the Shiba Inu dog that characterizes Dogecoin–causing the token to soar by 20% and the billionaire to earn himself a$258 billion lawsuitfor alleged insider trading and racketeering.\nDogecoin Surges 9% After Cryptic Elon Musk Tweets Link DOGE and X\nIndeed, he has sent the crypto community plenty ofmixedsignals over the years.\nIn 2021, Doge developers exclusivelytoldDecryptthey were working with Musk for years to make a cheaper, greener alternative to Bitcoin. And earlier this year, news surfaced that the company was working on a product that would supportive of crypto payments—although there wasn’t much information on which token would be used.\nWhile crypto fanatics can probably rule out a TwitterCoin or XCoin for now, the door is still not fully closed to cryptocurrency in Musk\'s next act.', "Bangkok, Thailand--(Newsfile Corp. - August 5, 2023) - RXT Token, a prominent issuer in the cryptocurrency industry, announces the successful conclusion of the first session of its world tour for the preparation of the mega project, Bitcoinland Malaysia. The event took place in Bangkok, Thailand.\nFigure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_001full.jpg\nSaturday night at Pullman King Power Bangkok, the RXT Team and BitcoinMan exchanged crypto knowledge with the Thai Crypto Community.\nFigure 2To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_002full.jpg\nFigure 3To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_003full.jpg\nThe purpose of this event was to introduce RXT's mega project property in Malaysia, known as Bitcoinland, to various key opinion leaders (KOLs) in Thailand. Additionally, RXT took the opportunity to unveil an upcoming web-based game that enables players to earn through gameplay.\nThailand, recognized as a thriving crypto hub in Southeast Asia, provided the ideal backdrop for this meeting. Its robust infrastructure supports numerous crypto communities and has attracted several world-class exchanges to relocate their operations to the country.\nRXT values the opportunity to expand its network and connect with the vibrant Thai crypto community. This event served as a significant milestone in strengthening RXT's presence in the region.\nAdditionally, RXT took the opportunity to inform the entire Thai crypto community that it will soon be releasing a web-based Play-to-Earn game,https://Metaverse.RXT.World.\nJohn [email protected] Digital LLCGeorgia - Tiblisi\nTo view the source version of this press release, please visithttps://www.newsfilecorp.com/release/176121", "Bangkok, Thailand--(Newsfile Corp. - August 5, 2023) - RXT Token, a prominent issuer in the cryptocurrency industry, announces the successful conclusion of the first session of its world tour for the preparation of the mega project, Bitcoinland Malaysia. The event took place in Bangkok, Thailand. Figure 1 To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_001full.jpg Saturday night at Pullman King Power Bangkok, the RXT Team and BitcoinMan exchanged crypto knowledge with the Thai Crypto Community. Figure 2 To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_002full.jpg Figure 3 To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_003full.jpg The purpose of this event was to introduce RXT's mega project property in Malaysia, known as Bitcoinland, to various key opinion leaders (KOLs) in Thailand. Additionally, RXT took the opportunity to unveil an upcoming web-based game that enables players to earn through gameplay. Thailand, recognized as a thriving crypto hub in Southeast Asia, provided the ideal backdrop for this meeting. Its robust infrastructure supports numerous crypto communities and has attracted several world-class exchanges to relocate their operations to the country. RXT values the opportunity to expand its network and connect with the vibrant Thai crypto community. This event served as a significant milestone in strengthening RXT's presence in the region. Additionally, RXT took the opportunity to inform the entire Thai crypto community that it will soon be releasing a web-based Play-to-Earn game, https://Metaverse.RXT.World . John Henderson [email protected] Rimaunangis Digital LLC Georgia - Tiblisi To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176121", "Bangkok, Thailand--(Newsfile Corp. - August 5, 2023) - RXT Token, a prominent issuer in the cryptocurrency industry, announces the successful conclusion of the first session of its world tour for the preparation of the mega project, Bitcoinland Malaysia. The event took place in Bangkok, Thailand.\nFigure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_001full.jpg\nSaturday night at Pullman King Power Bangkok, the RXT Team and BitcoinMan exchanged crypto knowledge with the Thai Crypto Community.\nFigure 2To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_002full.jpg\nFigure 3To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/176121_7c5b16ab6446cab0_003full.jpg\nThe purpose of this event was to introduce RXT's mega project property in Malaysia, known as Bitcoinland, to various key opinion leaders (KOLs) in Thailand. Additionally, RXT took the opportunity to unveil an upcoming web-based game that enables players to earn through gameplay.\nThailand, recognized as a thriving crypto hub in Southeast Asia, provided the ideal backdrop for this meeting. Its robust infrastructure supports numerous crypto communities and has attracted several world-class exchanges to relocate their operations to the country.\nRXT values the opportunity to expand its network and connect with the vibrant Thai crypto community. This event served as a significant milestone in strengthening RXT's presence in the region.\nAdditionally, RXT took the opportunity to inform the entire Thai crypto community that it will soon be releasing a web-based Play-to-Earn game,https://Metaverse.RXT.World.\nJohn [email protected] Digital LLCGeorgia - Tiblisi\nTo view the source version of this press release, please visithttps://www.newsfilecorp.com/release/176121", 'While most of the leading coins postedlight to moderately heavy lossesover the week due to the scarcity of regulatory or institutional news, crypto Twitter was ablaze with rumors that disgraced former FTX CEO Sam Bankman-Fried hadrug pulled a memecoinfrom house arrest.\nScimitar Capital analyst Alex, who tweets using the handle@thiccythot_, analyzed on-chain activity to piece together the crazy story of the week’s most scandalous rug pull. It happened on Coinbase’s new Layer 2 blockchain, Base, which is built on the Ethereum extension, Optimism.\nA lot of peoplethought it was SBF:\nCrypto trader Bran spotted a connection between the Bald deployers and a wallet that triggered theepic death spiral of USTin May 2022. The collapse of Terra’s dollar-pegged UST was one of the worst cases of contagion the industry had ever seen, and the contagion spread so far that it had a hand in the downfall of several major crypto companies—including Celsius, Voyager, Vauld, Three Arrows Capital, andeven FTX.\nBlockchain researcher Igor Igamberdiev wrote a lengthy thread observing that the rug was probably not carried out by SBF, but was still would have to have been perpetrated by someone connected to Alameda, the trading firm and sister company of FTX to which the exchange sent customer funds in order to patch over the former’s poor balance sheet.\nCrypto journalist and YouTuber Tiffany Fong also wasn’t convinced it was SBF.\nEven so, SBF was the star of the show that day. In atweet that’s too lengthyto reproduce here, crypto trader DeFi^2 (@DeFiSquared) followed the movements of the exploiter of the multichain protocol and it led him to a$40 million bribethat the FTX founder allegedly paid to the Chinese government.\n“The rumor up to this point was that the multichain funds may be held by the Chinese government, and this seems to confirm it," DeFi^2’s analysis concludes. "The liquidation of the funds tonight also seems to confirm they have no intention of returning it.”\nCrypto Twitter was also ablaze with activity elsewhere. It was truly a busy week. On Monday, U.S. Presidential hopeful Robert F. Kennedy Jr continued to signal his pro-Bitcoin stance.\nNews broke that day that notorious crypto influencer andscammerRichard Heart is getting sued by the U.S. Securities and Exchange Commission.\nCrypto enthusiast and trademark attorney Jessica Neer McDonald broke down the salient points in the copyright trial between Bored Ape Yacht Club creator Yuga Labs and digital art troll, conceptual artist, and Yuga hater Ryder Ripps.\nPeter Van Valkenburgh, the Director of Research at pro-crypto policy lobbyists Coin Centre, wrote a great thread about why the IRS’s decision to tax block rewards at the moment of their creation rather than their sale is just “bad law."\nNFT artist Beeple, who set the record for the biggest NFT sale ($69.3 million), decided to buy his first NFT profile pic. Justlast weekhe was soliciting advice from followers about how to make the purchase.\nTether CTO Paolo Ardoino threw some subtle shade at True USD, a Binance-affiliated dollar-pegged stablecoin that promises total regulatory compliance, reserves backed entirely by cold hard fiat, andreal-time attestationsof those reserves using Chainlink’sproof-of-reserve monitoring tool.\nFinally,Bloombergjourno James Seyffart countednot ten, noteleven, but thirteen applications for Ethereum Futures ETFs filed to the SEC this week!', 'Illustration by Mitchell Preffer for Decrypt While most of the leading coins posted light to moderately heavy losses over the week due to the scarcity of regulatory or institutional news, crypto Twitter was ablaze with rumors that disgraced former FTX CEO Sam Bankman-Fried had rug pulled a memecoin from house arrest. Scimitar Capital analyst Alex, who tweets using the handle @thiccythot_ , analyzed on-chain activity to piece together the crazy story of the week’s most scandalous rug pull. It happened on Coinbase’s new Layer 2 blockchain, Base, which is built on the Ethereum extension, Optimism. During the initial runup, the deployer was continuously adding liquidity into the pool BaldBaseBald added over 6,700 ETH or over $12.5M worth of liquidity in the first 24 hours surprising amount of capital for a memecoin on a new chain 🤔 3/ pic.twitter.com/CZszag2VL8 — thiccy (@thiccythot_) July 31, 2023 A lot of people thought it was SBF : Holy shit, bald dev really is SBF https://t.co/bYWhfbquq4 — Psycho (@AltcoinPsycho) July 31, 2023 To Summarize: - Thousands of ETH between FTX and Bald - Bald deployer was first voter on all sushi proposals - Bald deployer tweets same sentence structure as SBF - Bald deployer was biggest DYDX farmer - Bald deployer DYDX posts sound like SBF (1/x) 👇 — hype (@hype_eth) July 31, 2023 just to catch you up SBF the guy with the fake crypto exchange and responsible for one of the biggest frauds in history may have launched a $30m scam last weekend under a memecoin called BALD while on house arrest in his parents basement using the blockchain of a man who was… pic.twitter.com/VjnSJCxg0E — RYAN SΞAN ADAMS - rsa.eth (@RyanSAdams) July 31, 2023 Crypto trader Bran spotted a connection between the Bald deployers and a wallet that triggered the epic death spiral of UST in May 2022. The collapse of Terra’s dollar-pegged UST was one of the worst cases of contagion the industry had ever seen, and the contagion spread so far that it had a hand in the downfall of several major crypto companies—including Celsius, Voyager, Vauld, Three Arrows Capital, and even FTX . Story continues An address that frequently deposits into the Bald deployers Binance wallet, looks like it was one of the wallets that helped trigger the depeg of UST pic.twitter.com/nErM7gCa41 — Bran (@CryptoBran_) July 31, 2023 Blockchain researcher Igor Igamberdiev wrote a lengthy thread observing that the rug was probably not carried out by SBF, but was still would have to have been perpetrated by someone connected to Alameda, the trading firm and sister company of FTX to which the exchange sent customer funds in order to patch over the former’s poor balance sheet. 1/12 Alright, I\'ve been sitting on this news all day, but let\'s look at the @BaldBaseBald deployer. This is definitely someone from Alameda, but I don\'t think we can safely say that this is @SBF_FTX (even though he is a psycho) Let\'s go👇 pic.twitter.com/qs7e2nMTI1 — Igor Igamberdiev (@FrankResearcher) August 1, 2023 Crypto journalist and YouTuber Tiffany Fong also wasn’t convinced it was SBF. Guys, SBF hasn\'t had access to a normal phone or laptop since April 2023 when his bail conditions changed. He\'s basically been using a flip phone without internet connection & a laptop with restricted access to whitelisted websites (e.g. NYT, WSJ, Courtlistener, etc). Note: He… — Tiffany Fong (@TiffanyFong_) July 31, 2023 Even so, SBF was the star of the show that day. In a tweet that’s too lengthy to reproduce here, crypto trader DeFi^2 ( @DeFiSquared ) followed the movements of the exploiter of the multichain protocol and it led him to a $40 million bribe that the FTX founder allegedly paid to the Chinese government. “The rumor up to this point was that the multichain funds may be held by the Chinese government, and this seems to confirm it," DeFi^2’s analysis concludes. "The liquidation of the funds tonight also seems to confirm they have no intention of returning it.” The rest of Crypto Twitter… Crypto Twitter was also ablaze with activity elsewhere. It was truly a busy week. On Monday, U.S. Presidential hopeful Robert F. Kennedy Jr continued to signal his pro-Bitcoin stance. Interesting argument that bitcoin not so bad for the environment after all. At the very least, environmental argument should not be used as smokescreen to curtail freedom to transact. #Kennedy24 https://t.co/0BNbIJ9eoD — Robert F. Kennedy Jr (@RobertKennedyJr) July 30, 2023 News broke that day that notorious crypto influencer and scammer Richard Heart is getting sued by the U.S. Securities and Exchange Commission. Richard Heart ( @RichardHeartWin | $HEX ) is sued by the SEC for securities fraud pic.twitter.com/pyiiAja8qO — Summers (@SummersThings) July 31, 2023 Crypto enthusiast and trademark attorney Jessica Neer McDonald broke down the salient points in the copyright trial between Bored Ape Yacht Club creator Yuga Labs and digital art troll, conceptual artist, and Yuga hater Ryder Ripps. Yuga Labs v. Ripps et al - Day 1 of Trial How did we get here? Three key rulings. 🧵 1/ pic.twitter.com/JeM5UqLKIS — NeerMcD.eth 🚀 (@NeerMcD) July 31, 2023 Peter Van Valkenburgh, the Director of Research at pro-crypto policy lobbyists Coin Centre, wrote a great thread about why the IRS’s decision to tax block rewards at the moment of their creation rather than their sale is just “bad law." As we\'ve said for years, taxing block rewards at the moment of creation is unworkable and is a departure from traditional tax treatment for similar forms of new property that are produced by the taxpayer rather than received from a payor. https://t.co/oeKit4ZkCP 2/ pic.twitter.com/7IvAFaUTpq — Peter Van Valkenburgh (@valkenburgh) August 1, 2023 NFT artist Beeple, who set the record for the biggest NFT sale ( $69.3 million ), decided to buy his first NFT profile pic. Just last week he was soliciting advice from followers about how to make the purchase. Beeple bought a CryptoPunk today 👀 pic.twitter.com/Q1AEUYvOQe — nft now (@nftnow) August 2, 2023 Tether CTO Paolo Ardoino threw some subtle shade at True USD, a Binance-affiliated dollar-pegged stablecoin that promises total regulatory compliance, reserves backed entirely by cold hard fiat, and real-time attestations of those reserves using Chainlink’s proof-of-reserve monitoring tool . Finally, Bloomberg journo James Seyffart counted not ten , not eleven , but thirteen applications for Ethereum Futures ETFs filed to the SEC this week! UPDATE: 13th Ethereum ETF application. I feel like a broken record at this point but we have another #Ethereum futures ETF entrant. This one from @KevinKellyIntel ’s firm. https://t.co/Q81JCfTZpt pic.twitter.com/clAgFvzJ6w — James Seyffart (@JSeyff) August 4, 2023']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-06
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $565,467,494,500
- Hash Rate: 426605738.3177011
- Transaction Count: 607275.0
- Unique Addresses: 771973.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.49
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: He's doing it again. On Wednesday, Elon Musk tweeted something dumb about cartoon dog Scooby-Doo with the caption "Doges ftw"—the latest in his periodic efforts to get the meme coin Dogecoin trending, and goose its value in the process. His Scooby tweet did the trick as the price of Dogecoin brieflyspiked3% in 15 minutes, adding around $320 million in market cap.
We've seen this dynamic play out again and again—most famously after Musk talked up the Shiba Inu-themed token onSaturday Night Live—but it's still not clear why he's doing it. One explanation is that it's an easy way to make money since he owns a bag of Doge. If you're Musk, it's really simple: Tweet about the token, watch the price jump, and then reap some profits before doing it again a few months later. Bloomberg's Matt Levine explored Musk's motives in acolumnlast month:
"I assumed that Musk wasnotdoing this obvious trade. He was certainly tweeting about Dogecoin, and he had certainly bought some Dogecoin, but I just figured that he was not in fact optimizing his financial returns on the trading-plus-tweeting. He was busy running Tesla and SpaceX and the tunnel thing and probably several other companies at the time (this was pre-Twitter); his whole schtick was about building stuff, not just dumb manipulation of meaningless abstract financial markets. Still the opportunity was so obvious!"
Levine concluded that, on balance, Musk was probably not out to manipulate the market even if a group of Doge owners filed a class action suit claiming he did. Instead, Levine figured that the billionaire was probably doing what he likes to do best: troll the hell out of people.
That's probably the best guess. I dislike Musk because he's an emotional cripple with fascist leanings who is actively destroying the world's most important news platform, but I can also see the appeal of moving markets with just a tweet. On its best days, Fortune Crypto can publish ascoopthat will lead to token prices jumping or falling, but it takes days of research and effort. Musk, meanwhile, can produce a $300 million gain or loss just by tweeting about Scooby-Doo. Sounds like fun.
As for why people mess with meme coins in the first place, I still don't get it. Dogecoin doesn't aspire to do anything, and its own creators say the whole thing has always been a dumb joke, yet still people buy it. Maybe it's a case of profound financial illiteracy. Or if you want a darker explanation, maybe it's because many younger Americans have concluded that growing class disparities mean they will never be able to buy a home and other middle class stuff, so they might as well gamble on Doge and meme stocks. It's hard to say.
As for Musk, even if he is manipulating the market to pocket some easy profits, that's probably not illegal. Dogecoin is an early proof-of-work coin based on the same technology as Bitcoin, and it was always going to be an uphill for battle for the SEC to prove it's a security—now, after the big Ripple ruling, that task is nigh impossible. So Musk is free to tweet doggy memes for fun or profit and, for anyone inclined to buy Dogecoin for the hell of it, knock yourselves out.
Jeff John [email protected]@jeffjohnroberts
This story was originally featured onFortune.com
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- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Good morning. Here’s what’s happening: Prices: Bitcoin remains stagnant at $29K, teasing $30K. What will it take to push it past $30K? Insights: Crypto has new radicals, and DeFi isn\'t dead. Prices CoinDesk Market Index (CMI) 1,212 −2.9 ▼ 0.2% Bitcoin (BTC) $29,012 −27.5 ▼ 0.1% Ethereum (ETH) $1,827 −8.6 ▼ 0.5% S&P 500 4,478.03 −23.9 ▼ 0.5% Gold $1,979 +39.3 ▲ 2.0% Nikkei 225 32,192.75 +33.5 ▲ 0.1% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) CoinDesk Market Index (CMI) 1,212 −2.9 ▼ 0.2% Bitcoin (BTC) $29,012 −27.5 ▼ 0.1% Ethereum (ETH) $1,827 −8.6 ▼ 0.5% S&P 500 4,478.03 −23.9 ▼ 0.5% Gold $1,979 +39.3 ▲ 2.0% Nikkei 225 32,192.75 +33.5 ▲ 0.1% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Bitcoin is a Stablecoin? As Asia’s markets open after the weekend, bitcoin (BTC) is at $29,012 while ether (ETH) is changing hands at $1,827 – which made for a volatility-free weekend. “Another week of relative stability for BTC and ETH bodes well for bulls,” Joe DiPasquale, CEO of BitBull Capital said in a note. "There have been some developments in the space, ranging from the Curve hack to more altcoin mania on Base. The market has, however, not reacted too harshly, and ETH has managed to defend $1800.” Aside from shenanigans in Decentralized Finance (DeFi), which never fails to deliver, the broader crypto market is expected to be slow until a spot bitcoin exchange-traded fund (ETF) is approved. The amount of liquid and highly liquid Bitcoin supply is at its lowest since 2018, while illiquid supply reaches all-time highs, and long-term holders are stashing coins away, Blockware Intelligence wrote in a recent newsletter . Meanwhile, there\'s significant positive momentum in the creation of new addresses, indicating a general increase in on-chain demand, similar to trends observed exiting the bear market in 2019. In a recent note , K33 Research’s Vetle Lunde, calls July’s trading volume “anemic” but writes that the market is on a precipice of change. Story continues The crypto market experienced an atypical drought with remarkably low trading volumes and BTC volatility near five-year lows, but the low activity could lead to a sudden eruption of volatility, he writes, with potential catalysts including ETF filings, ongoing legal matters, and structural pressures, prompting strategies such as passive long volume exposure and gradual BTC accumulation. “A deep crypto sleep tends to be followed by a violent wake-up. The market’s volatility pressure is about to climax, and that an eruption is near," he said in the note. The only question is, when? Biggest Gainers Asset Ticker Returns DACS Sector Terra LUNA +3.3% Smart Contract Platform Solana SOL +2.7% Smart Contract Platform Loopring LRC +2.2% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Shiba Inu SHIB −8.4% Currency Gala GALA −3.5% Entertainment Dogecoin DOGE −1.5% Currency Insights Crypto and the Real Meaning of \'Radicalism\': In the past four to five years, political thought within crypto has significantly widened, with Ethereum\'s smart contracts attracting economic engineers interested in balanced societal structures, the emergence of theories like "Radical Markets" and “regenerative economics," and the rise of "The Blockchain Socialist" as a platform discussing American economic imperialism and the left-wing perspective on privacy, challenging crypto\'s largely libertarian mainstream, argues a new book by Joshua Dávila – aka The Blockchain Socialist. DeFi Definitely Isn\'t Dead: The summer of 2020\'s DeFi era, characterized by excesses like yield farming, has evolved with decentralized platforms emerging as leaders and adopting professional expansion strategies, but the sector still struggles with concentrated power and the challenges of programmers acting as financiers, reflecting an ongoing experimental phase with a potential for mistakes. Important events 9:30 a.m. HKT/SGT August 9 (01:30 Aug 9 UTC): China Inflation Rate YoY 8:30 p.m. HKT/SGT August 10 (12:30 Aug 9 UTC): U.S. Core Inflation Rate YoY CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Coinbase Beats Analyst Estimates for Q2; Bitcoin Trades Sideways After July Jobs Report Coinbase beat analyst estimates for the second quarter, reporting revenues of $708 million and adjusted earnings of a loss of $0.42. Headlines NFT Trading Is Ice Cold But Developers Are Still Hot for Web3 : This week, new reports were released that point to a major slowdown in NFT trading. Plus, Etihad Airways will soon let its community of frequent fliers stake NFTs for miles. Global X Refiles Spot-Bitcoin ETF Application, Naming Coinbase as ‘Surveillance-Sharing’ Partner : The filing comes around the same time the firm requested permission to offer a bitcoin-futures ETF. America’s Credit Rating Helps Make Case for Bitcoin : Fitch’s downgrade of U.S. debt this week is a warning to American policymakers and r underscores why Bitcoin and other open monetary systems matter, says Michael Casey.', 'Bitcoin traded flat on Monday morning in Asia, staying just above the US$29,000 support level, while the token’s volatility rating hit a record low. Ether also treaded water, as other top 10 non-stablecoin cryptocurrencies traded mixed with Solana leading the winners. Meanwhile, the Forkast 500 NFT index edged lower and U.S. stock futures moved up following losses last week. Investors now await another busy week of corporate earnings reports and U.S. inflation data.\nBitcoin edged down 0.03% in the last 24 hours to US$29,039.48 as of 07:50 a.m. in Hong Kong and down 0.78% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency briefly traded below the US$29,000 support level over the weekend.\nEther also dipped 0.48% to US$1,826, and moved down 1.89% over the past seven days.\n“The most fluctuation in Bitcoin over the last week and a half has been around US$29,200. And this is interesting because during this time, the dollar has gone into a growth mode, and there has been significant profit-taking in the equity market,” wrote Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro.\n“The market has been waiting for new signals, equally ready to return to growth or continue to fall,” Kuptsikevich said. “A drop below US$28,800 could quickly take the market to US$28,000 or even US$27,000. A rise above US$29,500 would open a quick path to US$30,000 and on to US$31,000.”\nThe Bitcoin volatility index by crypto options trading platformDeribit, which indicates the expected volatility for Bitcoin over the next 30 days, hit an all-time-low of 34.02% on Monday. Meanwhile, crypto analytics firm K33 Research noted on Friday that Bitcoin’s 5-day average volatility dropped lower than Gold, Nasdaq and S&P500 in the week ending July 30.\n“This session is symptomatic of something we’ve seen playing out over the past few months but is even more pronounced now: nothing,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market makerKeyrock. “We haven’t seen BTC make a 1%+ move from open to close in what feels like forever.”\n“It’s worth checking with oneself for any hint of complacency; crypto markets typically don’t reward inertia. Investors will find it very hard to position themselves, though, as positive news about crypto ETFs and engagement by institutions are balanced by regulatory woes and DeFi hacks,” added d’Anethan.\nOther top 10 non-stablecoin cryptocurrencies were mixed as Solana led the winners. It gained 2.51% to US$23.18, but logged a weekly loss of 4.47%.\nDogecoin led the losers, falling 1.97% to US$0.07418, down 4.92% for the week.\nThe total crypto market capitalization dipped 0.12% in the past 24 hours to US$1.16 trillion, while trading volume gained little, adding 1.42% to US$20.62 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexedged up 0.28% in the past 24 hours to 2,459.91\xa0 as of 10:50 a.m. in Hong Kong, down 3.34% for the week. However, Forkast’s Ethereum, Solana and Polygon NFT market indexes all logged losses, with only the Cardano index moving higher.\nTotal NFT trading volume fell 12.78% in the past 24 hours to US$14.78 million, according to data fromCryptoSlam.\nBy NFT collections, Mythos Chain-based game NFT marketplace DMarket posted the largest 24-hour trading volume. Ethereum-based Bored Ape Yacht Club (BAYC) and ImmutableX-based Gods Unchained Cards made up the second and third place spots.\nWreck League, an NFT-based fighting game backed by Web3 venture capital and game development firm Animoca Brands,announceda licensing agreement with BAYC developer Yuga Labs on Thursday.\nThat agreement will see Yuga Labs’ NFT collections incorporated into the game. The game will be launched in September.\nAccording to a Sundayreportby the Bored Ape Gazette, a news site funded by theApeCoin DAO, Wreck League’s in-game NFTs will be minted exclusively with ApeCoin. ApeCoin is the governance and utility token used in the Yuga Labs ecosystem.\nFollowing the news, ApeCoin’s price rose to a weekly high of US$2.04 on Sunday, according to CoinMarketCap data.\nElsewhere, the U.S. Federal Bureau of Investigation (FBI)issueda warning Saturday about NFT phishing scams. The FBI claims that fraudsters, posing as NFT developers, are using fake social media accounts to trick users into linking their digital wallets to smart contracts that extract their digital funds.\nAnd the bad news for developers isn’t over.\nAccording to a Bloombergreportpublished Saturday, total NFT royalties received by creators plunged from US$269 million in January 2022 to only US4.3 million in July 2023.\nA significant decline in NFT trades coupled withcompetitionbetween NFT marketplaces OpenSea and Blur has drastically driven down royalty rates. The total NFT trading volume fell more than 90% over the same period, according to data fromCryptoSlam.\nU.S. stock futurestradedhigher as of 12:10 p.m. on Monday in Hong Kong. The three major U.S. stock indexes closed lower in regular trading last Friday and ended the week with losses.\nIn Asia, the main stock indexes moved down on Monday morning. China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospiand Japan’sNikkeiall logged losses.\nThe U.S. economy added 187,000payrollsin July, lower than analyst expectations. Hourly average wages also logged a higher-than-expected increase of 4.4%, BloombergreportedFriday.\nThat data points to a cooling U.S. labor market. However, wage inflation is still double the U.S. Federal Reserve’s target level.\n‘Today’s numbers will do little to change the narrative of the Fed. The earnings numbers in particular will be of concern to the ‘hawks’ on the FOMC (Federal Open Market Committee) and will do nothing to dissuade them from arguing for another interest rate hike at September’s meeting,” Stuart Cole, Equiti Capital’s head macro economisttoldReuters.\nInvestors now await the U.S. July consumer price index (CPI) on Thursday and producer price index (PPI) on Friday. Both reports\xa0 will provide insight into U.S. inflation and the direction of the Fed’s future monetary policies.\nThe Fed meets on September 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 86.5% chance for no interest rate hike in September, and a 13.5% chance for another 25-basis-point rate hike, down from 17.5% on Friday.\nThis week will also be busy with second-quarter earning reports from major corporations including Walt Disney, Alibaba Group Holdings and Honda Motor.\nElsewhere, China’s imports and exports data is expected Tuesday, as well as the country’s CPI and PPI on Wednesday. Analystsexpectthe Chinese CPI and PPI to pose annual decreases in July.\n(Updates to add equities section.)', 'Bitcoin traded flat on Monday morning in Asia, staying just above the US$29,000 support level, while the token’s volatility rating hit a record low. Ether also treaded water, as other top 10 non-stablecoin cryptocurrencies traded mixed with Solana leading the winners. Meanwhile, the Forkast 500 NFT index edged lower and U.S. stock futures moved up following losses last week. Investors now await another busy week of corporate earnings reports and U.S. inflation data.\nBitcoin edged down 0.03% in the last 24 hours to US$29,039.48 as of 07:50 a.m. in Hong Kong and down 0.78% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency briefly traded below the US$29,000 support level over the weekend.\nEther also dipped 0.48% to US$1,826, and moved down 1.89% over the past seven days.\n“The most fluctuation in Bitcoin over the last week and a half has been around US$29,200. And this is interesting because during this time, the dollar has gone into a growth mode, and there has been significant profit-taking in the equity market,” wrote Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro.\n“The market has been waiting for new signals, equally ready to return to growth or continue to fall,” Kuptsikevich said. “A drop below US$28,800 could quickly take the market to US$28,000 or even US$27,000. A rise above US$29,500 would open a quick path to US$30,000 and on to US$31,000.”\nThe Bitcoin volatility index by crypto options trading platformDeribit, which indicates the expected volatility for Bitcoin over the next 30 days, hit an all-time-low of 34.02% on Monday. Meanwhile, crypto analytics firm K33 Research noted on Friday that Bitcoin’s 5-day average volatility dropped lower than Gold, Nasdaq and S&P500 in the week ending July 30.\n“This session is symptomatic of something we’ve seen playing out over the past few months but is even more pronounced now: nothing,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market makerKeyrock. “We haven’t seen BTC make a 1%+ move from open to close in what feels like forever.”\n“It’s worth checking with oneself for any hint of complacency; crypto markets typically don’t reward inertia. Investors will find it very hard to position themselves, though, as positive news about crypto ETFs and engagement by institutions are balanced by regulatory woes and DeFi hacks,” added d’Anethan.\nOther top 10 non-stablecoin cryptocurrencies were mixed as Solana led the winners. It gained 2.51% to US$23.18, but logged a weekly loss of 4.47%.\nDogecoin led the losers, falling 1.97% to US$0.07418, down 4.92% for the week.\nThe total crypto market capitalization dipped 0.12% in the past 24 hours to US$1.16 trillion, while trading volume gained little, adding 1.42% to US$20.62 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexedged up 0.28% in the past 24 hours to 2,459.91\xa0 as of 10:50 a.m. in Hong Kong, down 3.34% for the week. However, Forkast’s Ethereum, Solana and Polygon NFT market indexes all logged losses, with only the Cardano index moving higher.\nTotal NFT trading volume fell 12.78% in the past 24 hours to US$14.78 million, according to data fromCryptoSlam.\nBy NFT collections, Mythos Chain-based game NFT marketplace DMarket posted the largest 24-hour trading volume. Ethereum-based Bored Ape Yacht Club (BAYC) and ImmutableX-based Gods Unchained Cards made up the second and third place spots.\nWreck League, an NFT-based fighting game backed by Web3 venture capital and game development firm Animoca Brands,announceda licensing agreement with BAYC developer Yuga Labs on Thursday.\nThat agreement will see Yuga Labs’ NFT collections incorporated into the game. The game will be launched in September.\nAccording to a Sundayreportby the Bored Ape Gazette, a news site funded by theApeCoin DAO, Wreck League’s in-game NFTs will be minted exclusively with ApeCoin. ApeCoin is the governance and utility token used in the Yuga Labs ecosystem.\nFollowing the news, ApeCoin’s price rose to a weekly high of US$2.04 on Sunday, according to CoinMarketCap data.\nElsewhere, the U.S. Federal Bureau of Investigation (FBI)issueda warning Saturday about NFT phishing scams. The FBI claims that fraudsters, posing as NFT developers, are using fake social media accounts to trick users into linking their digital wallets to smart contracts that extract their digital funds.\nAnd the bad news for developers isn’t over.\nAccording to a Bloombergreportpublished Saturday, total NFT royalties received by creators plunged from US$269 million in January 2022 to only US4.3 million in July 2023.\nA significant decline in NFT trades coupled withcompetitionbetween NFT marketplaces OpenSea and Blur has drastically driven down royalty rates. The total NFT trading volume fell more than 90% over the same period, according to data fromCryptoSlam.\nU.S. stock futurestradedhigher as of 12:10 p.m. on Monday in Hong Kong. The three major U.S. stock indexes closed lower in regular trading last Friday and ended the week with losses.\nIn Asia, the main stock indexes moved down on Monday morning. China’sShanghai Composite, Hong Kong’sHang Seng, South Korea’sKospiand Japan’sNikkeiall logged losses.\nThe U.S. economy added 187,000payrollsin July, lower than analyst expectations. Hourly average wages also logged a higher-than-expected increase of 4.4%, BloombergreportedFriday.\nThat data points to a cooling U.S. labor market. However, wage inflation is still double the U.S. Federal Reserve’s target level.\n‘Today’s numbers will do little to change the narrative of the Fed. The earnings numbers in particular will be of concern to the ‘hawks’ on the FOMC (Federal Open Market Committee) and will do nothing to dissuade them from arguing for another interest rate hike at September’s meeting,” Stuart Cole, Equiti Capital’s head macro economisttoldReuters.\nInvestors now await the U.S. July consumer price index (CPI) on Thursday and producer price index (PPI) on Friday. Both reports\xa0 will provide insight into U.S. inflation and the direction of the Fed’s future monetary policies.\nThe Fed meets on September 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 86.5% chance for no interest rate hike in September, and a 13.5% chance for another 25-basis-point rate hike, down from 17.5% on Friday.\nThis week will also be busy with second-quarter earning reports from major corporations including Walt Disney, Alibaba Group Holdings and Honda Motor.\nElsewhere, China’s imports and exports data is expected Tuesday, as well as the country’s CPI and PPI on Wednesday. Analystsexpectthe Chinese CPI and PPI to pose annual decreases in July.\n(Updates to add equities section.)', "Bitcoin traded flat on Monday morning in Asia, staying just above the US$29,000 support level, while the token’s volatility rating hit a record low. Ether also treaded water, as other top 10 non-stablecoin cryptocurrencies traded mixed with Solana leading the winners. Meanwhile, the Forkast 500 NFT index edged lower and U.S. stock futures moved up following losses last week. Investors now await another busy week of corporate earnings reports and U.S. inflation data. Bitcoin flat, volatility low Bitcoin edged down 0.03% in the last 24 hours to US$29,039.48 as of 07:50 a.m. in Hong Kong and down 0.78% for the week, according to CoinMarketCap data. The world’s largest cryptocurrency briefly traded below the US$29,000 support level over the weekend. Ether also dipped 0.48% to US$1,826, and moved down 1.89% over the past seven days. “The most fluctuation in Bitcoin over the last week and a half has been around US$29,200. And this is interesting because during this time, the dollar has gone into a growth mode, and there has been significant profit-taking in the equity market,” wrote Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro. “The market has been waiting for new signals, equally ready to return to growth or continue to fall,” Kuptsikevich said. “A drop below US$28,800 could quickly take the market to US$28,000 or even US$27,000. A rise above US$29,500 would open a quick path to US$30,000 and on to US$31,000.” The Bitcoin volatility index by crypto options trading platform Deribit , which indicates the expected volatility for Bitcoin over the next 30 days, hit an all-time-low of 34.02% on Monday. Meanwhile, crypto analytics firm K33 Research noted on Friday that Bitcoin’s 5-day average volatility dropped lower than Gold, Nasdaq and S&P500 in the week ending July 30. Bitcoin's volatility dropped lower than Gold, Nasdaq and S&P500 last week 📉 Historically, such periods of low volatility have often been followed by surges in BTC volatility. Could this indicate an imminent price movement for bitcoin? pic.twitter.com/EvGYNd3tJI — K33 Research (@K33Research) August 4, 2023 “This session is symptomatic of something we’ve seen playing out over the past few months but is even more pronounced now: nothing,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market maker Keyrock . “We haven’t seen BTC make a 1%+ move from open to close in what feels like forever.” Story continues “It’s worth checking with oneself for any hint of complacency; crypto markets typically don’t reward inertia. Investors will find it very hard to position themselves, though, as positive news about crypto ETFs and engagement by institutions are balanced by regulatory woes and DeFi hacks,” added d’Anethan. Other top 10 non-stablecoin cryptocurrencies were mixed as Solana led the winners. It gained 2.51% to US$23.18, but logged a weekly loss of 4.47%. Dogecoin led the losers, falling 1.97% to US$0.07418, down 4.92% for the week. The total crypto market capitalization dipped 0.12% in the past 24 hours to US$1.16 trillion, while trading volume gained little, adding 1.42% to US$20.62 billion. More doom and gloom for NFT developers The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index edged up 0.28% in the past 24 hours to 2,459.91\xa0 as of 10:50 a.m. in Hong Kong, down 3.34% for the week. However, Forkast’s Ethereum, Solana and Polygon NFT market indexes all logged losses, with only the Cardano index moving higher. Total NFT trading volume fell 12.78% in the past 24 hours to US$14.78 million, according to data from CryptoSlam . By NFT collections, Mythos Chain-based game NFT marketplace DMarket posted the largest 24-hour trading volume. Ethereum-based Bored Ape Yacht Club (BAYC) and ImmutableX-based Gods Unchained Cards made up the second and third place spots. Wreck League, an NFT-based fighting game backed by Web3 venture capital and game development firm Animoca Brands, announced a licensing agreement with BAYC developer Yuga Labs on Thursday. 📺Take a closer look at our first collaboration with @yugalabs and discover the exclusive advantages of being part of the next generation of fighting games! ▶️Powered by @apecoin 🦾 pic.twitter.com/pvxAQHLTTf — Wreck League ➡️ALLOWLIST OPEN! (@WreckLeagueHQ) August 4, 2023 That agreement will see Yuga Labs’ NFT collections incorporated into the game. The game will be launched in September. According to a Sunday report by the Bored Ape Gazette, a news site funded by the ApeCoin DAO , Wreck League’s in-game NFTs will be minted exclusively with ApeCoin. ApeCoin is the governance and utility token used in the Yuga Labs ecosystem. Following the news, ApeCoin’s price rose to a weekly high of US$2.04 on Sunday, according to CoinMarketCap data. Elsewhere, the U.S. Federal Bureau of Investigation (FBI) issued a warning Saturday about NFT phishing scams. The FBI claims that fraudsters, posing as NFT developers, are using fake social media accounts to trick users into linking their digital wallets to smart contracts that extract their digital funds. And the bad news for developers isn’t over. According to a Bloomberg report published Saturday, total NFT royalties received by creators plunged from US$269 million in January 2022 to only US4.3 million in July 2023. A significant decline in NFT trades coupled with competition between NFT marketplaces OpenSea and Blur has drastically driven down royalty rates. The total NFT trading volume fell more than 90% over the same period, according to data from CryptoSlam . U.S. labor market cools Image: Getty Images U.S. stock futures traded higher as of 12:10 p.m. on Monday in Hong Kong. The three major U.S. stock indexes closed lower in regular trading last Friday and ended the week with losses. In Asia, the main stock indexes moved down on Monday morning. China’s Shanghai Composite , Hong Kong’s Hang Seng , South Korea’s Kospi and Japan’s Nikkei all logged losses. The U.S. economy added 187,000 payrolls in July, lower than analyst expectations. Hourly average wages also logged a higher-than-expected increase of 4.4%, Bloomberg reported Friday. That data points to a cooling U.S. labor market. However, wage inflation is still double the U.S. Federal Reserve’s target level. ‘Today’s numbers will do little to change the narrative of the Fed. The earnings numbers in particular will be of concern to the ‘hawks’ on the FOMC (Federal Open Market Committee) and will do nothing to dissuade them from arguing for another interest rate hike at September’s meeting,” Stuart Cole, Equiti Capital’s head macro economist told Reuters. Investors now await the U.S. July consumer price index (CPI) on Thursday and producer price index (PPI) on Friday. Both reports\xa0 will provide insight into U.S. inflation and the direction of the Fed’s future monetary policies. The Fed meets on September 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at the CME FedWatch Tool predict a 86.5% chance for no interest rate hike in September, and a 13.5% chance for another 25-basis-point rate hike, down from 17.5% on Friday. This week will also be busy with second-quarter earning reports from major corporations including Walt Disney, Alibaba Group Holdings and Honda Motor. Elsewhere, China’s imports and exports data is expected Tuesday, as well as the country’s CPI and PPI on Wednesday. Analysts expect the Chinese CPI and PPI to pose annual decreases in July. (Updates to add equities section.)", 'Elon Musk \x93Never Will\x94 Launch a Twitter or X Crypto Token, Putting Claims in News Reports To Rest Musk and X Have Never Released a Cryptocurrency Token The rumors of Twitter or X developing its own cryptocurrency coin have been put to bed by Elon Musk . The announcement was made in response to a post from user @DogeDesigner, who cautioned that despite claims in news reports to the contrary, Musk and X have never released a cryptocurrency token. "And we never will," Musk replied in a snappy one-liner. Despite the fact that this is a blatant rejection of a crypto token launched by Musk, it does not completely rule out cryptocurrency support or associated functionality in a future X "everything app." When it comes to digital assets, Musk has a history of sending conflicting messages. In the past, he has declared his admiration for Dogecoin and made suggestions about integrating crypto payments into Twitter. In 2021, Doge developers revealed that they had been working with Musk to create a less expensive, more environmentally friendly alternative to Bitcoin for years. The company was reported to be developing a product that would enable cryptocurrency payments earlier this year, however it wasn\'t clear which token would be used. While a Twitter or X native token does not seem to be in Musk\'s future plans, the door is not completely closed to cryptocurrencies. View comments', 'The rumors of Twitter or X developing its own cryptocurrency coin have been put to bed byElon Musk.\nThe announcement was made in response to a post from user @DogeDesigner, who cautioned that despite claims in news reports to the contrary, Musk and X have never released a cryptocurrency token.\n"And we never will," Musk replied in a snappy one-liner.\nDespite the fact that this is a blatant rejection of a crypto token launched by Musk, it does not completely rule out cryptocurrency support or associated functionality in a future X "everything app."\nWhen it comes to digital assets, Musk has a history of sending conflicting messages. In the past, he has declared his admiration forDogecoinand made suggestions about integrating crypto payments into Twitter. In 2021, Doge developers revealed that they had been working with Musk to create a less expensive, more environmentally friendly alternative toBitcoinfor years.\nThe company was reported to be developing a product that would enable cryptocurrency payments earlier this year, however it wasn\'t clear which token would be used. While a Twitter or X native token does not seem to be in Musk\'s future plans, the door is not completely closed to cryptocurrencies.', '97 Crypto Funds Have Ceased Operating This Year: Report Many Crypto Funds Were Forced to Scale Back Their Operations Out of the more than 700 cryptocurrency funds that exist worldwide, 97 have closed so far this year, according to Swiss investment adviser 21e6 Capital AG. While the funds had an average return of 15.2% in the first quarter of 2022, they fell short of Bitcoin \'s 83.3% increase. According to the research, many of the funds had been keeping more cash than usual as a result of the volatility in the business the previous year. According to Maximilian Bruckner, head of marketing and sales at 21e6, certain funds have had difficulty finding new partners for banking services. Bruckner wrote in a blog post regarding the 21e6 statistics that "Directional funds performed well, but underperformed Bitcoin." Discretionary crypto funds were not affected by this problem, but many funds were forced to scale back their operations as a result of regulatory uncertainty surrounding well-known banking partners and fund administrators. The "choppy" markets, meanwhile, kept quantitative funds from rising. Bruckner added that although fund inflows and fund launches are signaling a little improvement in sentiment among investors, it has not yet fully recovered.', '97 Crypto Funds Have Ceased Operating This Year: Report Many Crypto Funds Were Forced to Scale Back Their Operations Out of the more than 700 cryptocurrency funds that exist worldwide, 97 have closed so far this year, according to Swiss investment adviser 21e6 Capital AG. While the funds had an average return of 15.2% in the first quarter of 2022, they fell short of Bitcoin \'s 83.3% increase. According to the research, many of the funds had been keeping more cash than usual as a result of the volatility in the business the previous year. According to Maximilian Bruckner, head of marketing and sales at 21e6, certain funds have had difficulty finding new partners for banking services. Bruckner wrote in a blog post regarding the 21e6 statistics that "Directional funds performed well, but underperformed Bitcoin." Discretionary crypto funds were not affected by this problem, but many funds were forced to scale back their operations as a result of regulatory uncertainty surrounding well-known banking partners and fund administrators. The "choppy" markets, meanwhile, kept quantitative funds from rising. Bruckner added that although fund inflows and fund launches are signaling a little improvement in sentiment among investors, it has not yet fully recovered.', 'Good morning. Here’s what’s happening:\nPrices:Bitcoin remains stagnant at $29K, teasing $30K. What will it take to push it past $30K?\nInsights:Crypto has new radicals, and DeFi isn\'t dead.\nCoinDesk Market Index (CMI)\n1,212\n−2.9▼0.2%\nBitcoin (BTC)\n$29,012\n−27.5▼0.1%\nEthereum (ETH)\n$1,827\n−8.6▼0.5%\nS&P 500\n4,478.03\n−23.9▼0.5%\nGold\n$1,979\n+39.3▲2.0%\nNikkei 225\n32,192.75\n+33.5▲0.1%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,212", "\\u22122.9\\u25bc0.2%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,012", "\\u221227.5\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,827", "\\u22128.6\\u25bc0.5%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,478.03", "\\u221223.9\\u25bc0.5%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,979", "+39.3\\u25b22.0%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,192.75", "+33.5\\u25b20.1%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBitcoin is a Stablecoin?\nAs Asia’s markets open after the weekend,bitcoin (BTC) is at $29,012whileether (ETH)is changing hands at $1,827 – which made for a volatility-free weekend.\n“Another week of relative stability for BTC and ETH bodes well for bulls,” Joe DiPasquale, CEO of BitBull Capital said in a note. "There have been some developments in the space, ranging from the Curve hack to more altcoin mania on Base. The market has, however, not reacted too harshly, and ETH has managed to defend $1800.”\nAside from shenanigans in Decentralized Finance (DeFi), which never fails to deliver, the broader crypto market is expected to be slow until a spot bitcoin exchange-traded fund (ETF) is approved.\nThe amount of liquid and highly liquid Bitcoin supply is at its lowest since 2018, while illiquid supply reaches all-time highs, and long-term holders are stashing coins away, Blockware Intelligence wrote ina recent newsletter. Meanwhile, there\'s significant positive momentum in the creation of new addresses, indicating a general increase in on-chain demand, similar to trends observed exiting the bear market in 2019.\nIn a recent note, K33 Research’s Vetle Lunde, calls July’s trading volume “anemic” but writes that the market is on a precipice of change.\nThe crypto market experienced an atypical drought with remarkably low trading volumes and BTC volatility near five-year lows, but the low activity could lead to a sudden eruption of volatility, he writes, with potential catalysts including ETF filings, ongoing legal matters, and structural pressures, prompting strategies such as passive long volume exposure and gradual BTC accumulation.\n“A deep crypto sleep tends to be followed by a violent wake-up. The market’s volatility pressure is about to climax, and that an eruption is near," he said in the note.\nThe only question is, when?\n[{"Asset": "Terra", "Ticker": "LUNA", "Returns": "+3.3%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "+2.7%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Loopring", "Ticker": "LRC", "Returns": "+2.2%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Shiba Inu", "Ticker": "SHIB", "Returns": "\\u22128.4%", "DACS Sector": "Currency"}, {"Asset": "Gala", "Ticker": "GALA", "Returns": "\\u22123.5%", "DACS Sector": "Entertainment"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u22121.5%", "DACS Sector": "Currency"}]\nCrypto and the Real Meaning of \'Radicalism\':In the past four to five years, political thought within crypto has significantly widened, with Ethereum\'s smart contracts attracting economic engineers interested in balanced societal structures, the emergence of theories like "Radical Markets" and “regenerative economics," and the rise of "The Blockchain Socialist" as a platform discussing American economic imperialism and the left-wing perspective on privacy, challenging crypto\'s largely libertarian mainstream, argues a new book by Joshua Dávila – aka The Blockchain Socialist.\nDeFi Definitely Isn\'t Dead:The summer of 2020\'s DeFi era, characterized by excesses like yield farming, has evolved with decentralized platforms emerging as leaders and adopting professional expansion strategies, but the sector still struggles with concentrated power and the challenges of programmers acting as financiers, reflecting an ongoing experimental phase with a potential for mistakes.\n9:30 a.m. HKT/SGT August 9 (01:30 Aug 9 UTC): China Inflation Rate YoY\n8:30 p.m. HKT/SGT August 10 (12:30 Aug 9 UTC): U.S. Core Inflation Rate YoY\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nCoinbase Beats Analyst Estimates for Q2; Bitcoin Trades Sideways After July Jobs Report\nCoinbase beat analyst estimates for the second quarter, reporting revenues of $708 million and adjusted earnings of a loss of $0.42.\nNFT Trading Is Ice Cold But Developers Are Still Hot for Web3: This week, new reports were released that point to a major slowdown in NFT trading. Plus, Etihad Airways will soon let its community of frequent fliers stake NFTs for miles.\nGlobal X Refiles Spot-Bitcoin ETF Application, Naming Coinbase as ‘Surveillance-Sharing’ Partner: The filing comes around the same time the firm requested permission to offer a bitcoin-futures ETF.\nAmerica’s Credit Rating Helps Make Case for Bitcoin: Fitch’s downgrade of U.S. debt this week is a warning to American policymakers and r underscores why Bitcoin and other open monetary systems matter, says Michael Casey.', 'Good morning. Here’s what’s happening:\nPrices:Bitcoin remains stagnant at $29K, teasing $30K. What will it take to push it past $30K?\nInsights:Crypto has new radicals, and DeFi isn\'t dead.\nCoinDesk Market Index (CMI)\n1,212\n−2.9▼0.2%\nBitcoin (BTC)\n$29,012\n−27.5▼0.1%\nEthereum (ETH)\n$1,827\n−8.6▼0.5%\nS&P 500\n4,478.03\n−23.9▼0.5%\nGold\n$1,979\n+39.3▲2.0%\nNikkei 225\n32,192.75\n+33.5▲0.1%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,212", "\\u22122.9\\u25bc0.2%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,012", "\\u221227.5\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,827", "\\u22128.6\\u25bc0.5%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,478.03", "\\u221223.9\\u25bc0.5%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,979", "+39.3\\u25b22.0%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,192.75", "+33.5\\u25b20.1%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBitcoin is a Stablecoin?\nAs Asia’s markets open after the weekend,bitcoin (BTC) is at $29,012whileether (ETH)is changing hands at $1,827 – which made for a volatility-free weekend.\n“Another week of relative stability for BTC and ETH bodes well for bulls,” Joe DiPasquale, CEO of BitBull Capital said in a note. "There have been some developments in the space, ranging from the Curve hack to more altcoin mania on Base. The market has, however, not reacted too harshly, and ETH has managed to defend $1800.”\nAside from shenanigans in Decentralized Finance (DeFi), which never fails to deliver, the broader crypto market is expected to be slow until a spot bitcoin exchange-traded fund (ETF) is approved.\nThe amount of liquid and highly liquid Bitcoin supply is at its lowest since 2018, while illiquid supply reaches all-time highs, and long-term holders are stashing coins away, Blockware Intelligence wrote ina recent newsletter. Meanwhile, there\'s significant positive momentum in the creation of new addresses, indicating a general increase in on-chain demand, similar to trends observed exiting the bear market in 2019.\nIn a recent note, K33 Research’s Vetle Lunde, calls July’s trading volume “anemic” but writes that the market is on a precipice of change.\nThe crypto market experienced an atypical drought with remarkably low trading volumes and BTC volatility near five-year lows, but the low activity could lead to a sudden eruption of volatility, he writes, with potential catalysts including ETF filings, ongoing legal matters, and structural pressures, prompting strategies such as passive long volume exposure and gradual BTC accumulation.\n“A deep crypto sleep tends to be followed by a violent wake-up. The market’s volatility pressure is about to climax, and that an eruption is near," he said in the note.\nThe only question is, when?\n[{"Asset": "Terra", "Ticker": "LUNA", "Returns": "+3.3%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "+2.7%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Loopring", "Ticker": "LRC", "Returns": "+2.2%", "DACS Sector": "Smart Contract Platform"}]\n[{"Asset": "Shiba Inu", "Ticker": "SHIB", "Returns": "\\u22128.4%", "DACS Sector": "Currency"}, {"Asset": "Gala", "Ticker": "GALA", "Returns": "\\u22123.5%", "DACS Sector": "Entertainment"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\\u22121.5%", "DACS Sector": "Currency"}]\nCrypto and the Real Meaning of \'Radicalism\':In the past four to five years, political thought within crypto has significantly widened, with Ethereum\'s smart contracts attracting economic engineers interested in balanced societal structures, the emergence of theories like "Radical Markets" and “regenerative economics," and the rise of "The Blockchain Socialist" as a platform discussing American economic imperialism and the left-wing perspective on privacy, challenging crypto\'s largely libertarian mainstream, argues a new book by Joshua Dávila – aka The Blockchain Socialist.\nDeFi Definitely Isn\'t Dead:The summer of 2020\'s DeFi era, characterized by excesses like yield farming, has evolved with decentralized platforms emerging as leaders and adopting professional expansion strategies, but the sector still struggles with concentrated power and the challenges of programmers acting as financiers, reflecting an ongoing experimental phase with a potential for mistakes.\n9:30 a.m. HKT/SGT August 9 (01:30 Aug 9 UTC): China Inflation Rate YoY\n8:30 p.m. HKT/SGT August 10 (12:30 Aug 9 UTC): U.S. Core Inflation Rate YoY\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nCoinbase Beats Analyst Estimates for Q2; Bitcoin Trades Sideways After July Jobs Report\nCoinbase beat analyst estimates for the second quarter, reporting revenues of $708 million and adjusted earnings of a loss of $0.42.\nNFT Trading Is Ice Cold But Developers Are Still Hot for Web3: This week, new reports were released that point to a major slowdown in NFT trading. Plus, Etihad Airways will soon let its community of frequent fliers stake NFTs for miles.\nGlobal X Refiles Spot-Bitcoin ETF Application, Naming Coinbase as ‘Surveillance-Sharing’ Partner: The filing comes around the same time the firm requested permission to offer a bitcoin-futures ETF.\nAmerica’s Credit Rating Helps Make Case for Bitcoin: Fitch’s downgrade of U.S. debt this week is a warning to American policymakers and r underscores why Bitcoin and other open monetary systems matter, says Michael Casey.', "In just the last two years, Web3 has been on a rollercoaster ride of fortune. Hailed as the future of the internet as well as the crypto and blockchain spaces all at once, Web3 had a difficult set of expectations to meet even from the beginning. By the summer of 2023, many prominent voices inside and outside of the Web3 space have criticized the project heavily. One popular website, \x93Web3 is Going Just Great,\x94 purports to keep a running total of all of the scams and fraud in the crypto space with a \x93Grift Counter.\x94 As of August 2, 2023, the counter totals about $67.8 billion in fraud. There are many reasons why detractors of Web3 can argue that the project is not yet successful. These range from the fraud above to a widespread decline in venture capital heading toward Web3-focused companies to problems with project utility to wild swings in the crypto market and much more. In such a turbulent world that is dominated by strong personalities and potentially large sums of speculative cash flying around, it\x92s perhaps to be expected that high-profile feuds and fights will develop. Some may argue that these battles do nothing to help Web3 overcome its many hurdles\x97and, in fact, that they may exacerbate some of the problems that critics point to. In this list, we look at the top five most famous feuds in Web3 history. 1. Elon Musk vs. Mark Zuckerberg Undoubtedly the most high-profile feud in the Web3 (or Web3-adjacent) space is the ongoing tension between Tesla CEO and owner of X (formerly Twitter) Elon Musk and Meta (formerly Facebook) founder Mark Zuckerberg. Musk and Zuckerberg are among the wealthiest people on the planet (Forbes places them at #1 and #7, respectively, as of this writing), and they both have legions of fans as well as scores of detractors. Their fighting also pre-dates the Web3 project by many years. Will Elon Musk Fight Mark Zuckerberg in a Cage? You Can Bet on It In the fall of 2016, a $200-million satellite built by Zuckerberg exploded in an pre-launch accident on a rocket for SpaceX, another of Musk\x92s companies. Zuckerberg pinned the blame on Musk\x92s company, writing on Facebook at the time that \x93SpaceX\x92s launch failure destroyed our satellite.\x94 Story continues Zuckerberg took another shot at Musk the next year, when he commented on artificial intelligence \x93naysayers\x94 as being \x93irresponsible.\x94 Though he didn\x92t mention Musk by name, the billionaire was widely seen as the primary target of Zuckerberg\x92s comment. Indeed, Musk took to Twitter to respond, calling Zuckerberg\x92s understanding of artificial intelligence \x93limited.\x94 The popular site \x93Web3 is Going Just Great\x94 keeps a \x93Grift Counter.\x94 Musk escalated in 2018 when he publicly joined the \x93Delete Facebook\x94 movement following the company\x92s political scandal with Cambridge Analytica. Both SpaceX and Tesla deleted their official Facebook pages. He has never reinstated official pages for either company. Musk went on in later years to call Facebook \x93lame,\x94 urging followers to delete their accounts, and blaming Facebook for the events of January 6th, 2021 in Washington, D.C. #DeleteFacebook It\x92s lame \x97 Elon Musk (@elonmusk) February 8, 2020 After Musk purchased Twitter in 2022, Zuckerberg seemed to make an attempt to bring the temperature down. The latter executive praised Musk\x92s early handling of Twitter, saying Musk\x92s decision to lay off a substantial portion of Twitter\x92s staff was \x93probably good for the industry.\x94 However, any potential calming of the waters did not last long. Twitter advertisers have left the platform in droves since Musk took over leadership, opening up space for rivals to assert dominance. Meta Platforms recently launched Threads , designed as a direct rival to Twitter, and Musk escalated the rhetoric with Zuckerberg. Following the news of Threads\x92 launch, Musk tweeted \x93I\x92m sure Earth can\x92t wait to be exclusively under Zuck\x92s thumb.\x94 Musk even floated the idea of a \x93 cage match \x94 between the two; Zuckerberg responded seriously, saying \x93send me location.\x94 Musk didn\x92t back down: \x93Vegas Octagon\x94 was his response. There was even a famous shirtless photo produced as part of the sparring. Twitter's 'X' Rebrand: All the Things Elon Musk Has Planned for the 'Everything App' This back-and-forth heated up through June of 2023. As of this writing, no public plans for a real cage match have been announced , but neither has there been any apparent ceasefire between the two billionaires. 2. Vitalik Buterin vs. Craig Wright Craig Wright is a polarizing figure in the crypto world. He\x92s the self-proclaimed inventor of Bitcoin\x97developed by a pseudonymous figure or figures known as \x93Satoshi Nakamoto\x94\x97who is known for being particularly litigious . In fact, he launched five separate lawsuits against prominent figures in the cryptocurrency community who all publicly questioned Wright\x92s claims of creating the most famous crypto of all. Vitalik Buterin, the founder of Ethereum, was the most high-profile target of Wright\x92s lawsuits. At Deconomy 2018 in Seoul, South Korea, Buterin asked why a \x93fraud\x94 was allowed to speak at the conference, referring to Wright. Buterin followed that question up with a public repository of links to materials from cryptocurrency experts supporting the assertion that Wright is not, in fact, Satoshi Nakamoto. Is Craig Wright\x92s Campaign to Convince the World That He Invented Bitcoin Over? Wright\x92s lawyers asked Buterin to retract his comments and apologize. When Buterin didn\x92t meet their request, Wright\x92s legal team then served a formal writ against Ethereum\x92s developer in the U.K. What happened next is somewhat unclear. According to Buterin, Wright allowed the time limit to expire without following up on the lawsuit, and nothing happened. Wright says, though, that Buterin declined to respond to the letter, effectively denying the lawsuit due to discrepancies in libel laws between the U.K. and other parts of the world. The feud has continued more recently as well, as Wright has sought to codify his legal status as Satoshi and Buterin has continued to lash out, calling Wright a \x93not very intellectual\x94 person, among other comments. 3. Roger Ver vs. Everyone Roger Ver is sometimes referred to as \x93Bitcoin Jesus\x94 for his early and outspoken support of the nascent cryptocurrency. However, in more recent years he has become a target of enmity from many in the crypto world. A primary reason for this is Ver\x92s shifting beliefs about bitcoin, which have led to some strong and potentially misleading statements , among other provocations. Ver\x92s view of bitcoin shifted after the early days of the coin. He came to see Bitcoin Cash, forked from the or
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-07
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $562,127,397,500
- Hash Rate: 379783157.2828315
- Transaction Count: 427534.0
- Unique Addresses: 676210.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.49
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Hopes surrounding a potential U.S. Bitcoin ETF filing by investment giant BlackRock fueled a bullish sentiment among some traders early Friday.
Bitcoin regained the $25,500 level to erase declines of the past two days, when it fell to as low as $24,860. The move provided some respite to major tokens such as Polygon Network’s MATIC and Cardano’s ADA, which eased some losses from a two-day slide. Dogecoin (DOGE) led gains among major tokens with a 4% move in the past 24 hours; litecoin added (LTC) added 3.3%.
On Thursday, CoinDeskreportedthat BlackRock planned to offer a Bitcoin ETF with crypto exchange Coinbase (COIN) serving as custodian. This was confirmed later after a filing showed the company’s iShares fund management unitfiled paperworkfor the formation of a spot bitcoin (BTC) ETF.
“An estimated 20% of Americans have now owned bitcoin at some point. BlackRock’s proposed ETF potentially offers the other 80% an option that is altogether more familiar and accessible,” said Sui Chung, CEO of CF Benchmarks, in an email to CoinDesk. “BlackRock’s increasing engagement shows Bitcoin continues to be an asset of interest for some of the world’s largest financial institutions.”
As such, the market strength of bitcoin impacted shorts – or bets against the currency – the asset with BTC-tracked futures seeing over $16 million in short liquidations in the past 24 hours. This figure was smaller than usual due to large declines in the past week, causing some traders to risk less capital than they normally would.
The U.S. Securities and Exchange Commission (SEC) has previously rejected other attempts by fund managers at listing a spot bitcoin ETF, including those from Grayscale, VanEck, and WisdomTree.
However, the stature of BlackRock could make it difficult for the SEC to reject this application – whichsome saycould fuel an outsized bitcoin rally if approved....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['The numbers are significant. A total of US$12.5 million in cryptocurrency donations reached the Syria-Turkey border in the weeks following the earthquake that devastated the region in February — to a cost of some 60,000 lives — according to areportby Blockchain analytics firm Elliptic.\nThese figures are even higher in Ukraine, where war continues to rage following the Russian invasion on Feb. 24, 2022. Analytics firm Crystal Blockchainestimatesthat Ukraine had received over US$225 million in crypto donations by the end of last month. That figure is roughly20%of all the donations made to Ukraine in the 18 months since the start of the war.\n“[The use of crypto] really is a game changer when it comes to the delivery of emergency aid, especially as we’re seeing more of a need for it as well, not just with Russia’s invasion of Ukraine, but with climate change and the increase in extreme weather events,” said Drew Simon, founder of Crypto Altruism, a platform that advocates for blockchain solutions in the non-profit sector.\n“Folks are being forced into having to leave their homes because of that. There’s going to be an increased need for more efficient and transparent delivery of aid, and I think blockchain enables that,” he added.\n“Picture yourself in Ukraine while your family members are living overseas,” said Bohdan Opryshko, chief operating officer at Everstake, a Kyiv-based crypto staking firm. “They want to send you money, but the banking system is not operational.”\nThe direct and immediate nature of blockchain transactions allows users to bypass the structural and administrative difficulties faced by the war-time state and its institutions, explained Opryshko.\nIn that context, crypto “serves as a backup option where banks fail to deliver. Moreover, your knowledge of what is achievable and what is not can help fill gaps where the government falls short,” he said.\nBut it’s not just family members and other individuals who have been sending crypto to those in need in Ukraine. Institutions are also making use of blockchain’s possibilities.\nIn December 2022, the United Nations High Commission for Refugees (UNHCR) adopted afirst-of-its-kind programto distribute cash assistance to a small group of Ukrainian refugees in the form of USDC — the world’s second largest stablecoin.\nThe UNHCR partnered with the Stellar Development Foundation — specialists in crypto-to-fiat transfers — and MoneyGram International — a worldwide financial services provider with over 4,000 locations in Ukraine and almost 350,000 globally — to provide a broad and easily accessible range of withdrawal options for aid recipients.\n“Beneficiaries were able to activate the digital wallets within minutes and access their cash through the cash out network,” said Carmen Hett, corporate treasurer at the UNHCR. “The only prerequisites for beneficiaries who met the cash assistance criteria were digital literacy and possession of a smartphone,” she added.\nHett confirmed that, after the successful completion of the pilot program in April, the UNHCR decided to continue with a “small scale up” of the operation.\nHett and the program’s other organizers, which include USDC’s Boston-based issuers Circle, found that the speed and scalability of the stablecoin made it well suited for delivering aid in high volumes and in a very short period of time.\n“It’s really an amazing use of USDC,” said Corey Then, Circle’s vice president of global policy during an interview in May. “Folks who might be sitting in a basement while bombs are going off outside can receive money on this as long as they have an internet connection.”\nHe highlighted the difficulties faced by organizations making humanitariancash transfersin previous conflicts.\n“Some of that went to the right places, much of it didn’t, so it’s a huge inherent advantage with USDC and the blockchain,” he said. “From the UN’s perspective, not only can they get aid in faster, but they can actually track where it’s going. So this stands in stark contrast to some forms of aid disbursement.”\nPegged to the US dollar, USDC also ringfences the beneficiary from local currency volatility — the central bank in Kyiv devalued the Ukrainian hryvnia byover 25%against the US dollar in July 2022, five months into the war with Russia\xa0— while the immediacy of each transfer cuts out the need for a middleman, reducing transaction fees.\nThat makes the use of stablecoins to deliver humanitarian aid “highly auditable, being on an immutable blockchain,” said Crypto Altruism’s Drew Simon.\n“You can see exactly where the funds are going,” he added.\nWhen compared with many other places around the world — particularly low-infrastructure areas in the global south — Ukraine is well placed to carry out a pilot project involving stablecoins.\nEven before the war, the country boasted adisproportionately largenumber of crypto users, retail investors and tech professionals.\nWhile I cannot claim that cryptocurrency is an integral part of Ukrainian culture, it is undeniable that Ukrainians have a deep-rooted affinity for change and technological progress\n“While I cannot claim that cryptocurrency is an integral part of Ukrainian culture, it is undeniable that Ukrainians have a deep-rooted affinity for change and technological progress,” says Everstake’s Opryshko.\nHe highlighted Ukraine’s scarce investment opportunities and distrust of the national banking system as reasons that an estimated15.72%of Ukrainians own cryptocurrency.\n“There are limited options to preserve money and generate passive income. We don’t have a national stock market, and banks can face bankruptcy, leading Ukrainians to trust cryptocurrency wallets more,” Opryshko said.\nThe “not your keys, not your coins” philosophy popularized in the crypto world to avoid scams also, he said, strikes many Ukrainians as “a safer approach than keeping money under the pillow or in a bank.”\nDespite the shortcomings in Ukraine’s traditional banking and other administrative systems that, in many cases,predatedthe war with Russia, receptivity to technology — including the blockchain — extends to the national government.\nOn Feb. 26, 2022, the Ukrainian government’s official Twitter page posted Bitcoin and Ethereum addresses for donations to the war effort as part of its “Aid for Ukraine” initiative.\nAccording to aFebruary reportfrom Elliptic, by the end of 2022, the initiative had raised over US$29 million in Ethereum, US$22.7 million in Bitcoin, US$15.1 million in USDT and US$8.2 million in DOT, the native coin of the Polkadot blockchain.\nWhile Ukraine may provide a receptive testing ground for blockchain-based humanitarian aid in times of war, Crypto Altruism’s Drew Simon highlighted its use across a variety of different crisis situations.\nHe pointed to the millions of dollars in crypto donations that poured into Syria and Turkey in the wake of February’s earthquake, including via a number of differentNFTprojects that helped Turkish and Syrian artists sell their work to raise funds for impacted areas. Those efforts combined with large crypto donation platforms like theGiving Block Endowmentto solicit donations for specific aid organizations on the ground in the region.\n“We definitely saw an outpouring of support, maybe not to that same level as in Ukraine, but there were definitely a number of NFT projects, philanthropic campaigns in the Web3 space,” Simon said.\nElsewhere in the Middle East, he continued, innovative use of blockchain technologies have emerged in various forms — including theWorld Food Programme’s Building Blocks project. The project — which began in 2017 — uses blockchain technology to securely transfer funds to displaced communities in a number of locations, including a settlement for Syrian refugees in Lebanon in September 2020.\n“Refugees had funds deposited into their wallet on a blockchain, they went to the grocery store, their iris was scanned and then it automatically pulled up their wallet so they could purchase groceries,” Simon said.\nThe system was beneficial, he said, as individual recipients could avoid vouchers, cash and other physical payment methods that are harder to retain and keep track of in the challenging environment of a refugee settlement.\n“I know there’s a lot of questions around the ethics around biometrics and I think that’s a whole different conversation, but there’s these really cool opportunities that make it a lot easier for folks that previously lacked access to traditional financial tooling,” Simon added.\nRegardless of ease of use, such programs require beneficiaries to give up information that, in less strained circumstances, they may think twice about sharing. That involves a degree of trust in not only the technology but also the benevolence of program organizers. If missing, that lack of trust can prove a high hurdle to overcome.\nThe UNHCR’s Carmen Hett conceded as much when discussing the USDC pilot program in Ukraine, saying that “a lack of knowledge and distrust of the technology” among a small number of potential beneficiaries had prevented their participation.\nTo avoid that scenario in future, she said, further investment in digital literacy is “crucial” for helping vulnerable communities in crisis situations adapt to the funding avenues opened up by blockchain technology.\nWe’re just used to [the internet]. It’s a part of everyday life, and I think that that’s what we need to get to with Web3 as well, where the user interface and experience is so seamless and easy\nFor Crypto Altruism’s Drew Simon, that process can be simplified even further by removing the jargon that dominates the crypto industry, clouding understanding for newcomers.\n“Sure, it’s a revolutionary technology, but so is the internet and we don’t talk about whether a website is hosted on WordPress or Squarespace, what coding language is used to write an app, or how our email gets from point A to point B. It just does it, right?” Simon said.\n“We’re just used to [the internet]. It’s a part of everyday life, and I think that that’s what we need to get to with Web3 as well, where the user interface and experience is so seamless and easy,” he added.\nOnce those trust and understanding hurdles are overcome, the potential benefits could prove significant, with real world consequences for those in need.\nEverstake’s COO Bohdan Opryshko illustrated that point via a story from the early days of the Russian invasion, when an elderly priest living in a village in Ukraine contacted his firm by email.\nMost of the working-age villagers had left to fight in the war, the priest explained, so he was collecting donations to help support those who were left behind. But his efforts were frustrated by the difficulty in sending and receiving large sums in both Ukrainian hryvnia and other international currencies.\n“So, we suggested sending the funds in cryptocurrency. A few hours later, he contacted us again, having figured everything out, and created a wallet on Binance linked to his card,” Opryshko said.\nThe elderly priest had “defended his village” through the use of crypto, Opryshko added — not the worst use case for blockchain technology.', "The numbers are significant. A total of US$12.5 million in cryptocurrency donations reached the Syria-Turkey border in the weeks following the earthquake that devastated the region in February — to a cost of some 60,000 lives — according to a report by Blockchain analytics firm Elliptic. These figures are even higher in Ukraine, where war continues to rage following the Russian invasion on Feb. 24, 2022. Analytics firm Crystal Blockchain estimates that Ukraine had received over US$225 million in crypto donations by the end of last month. That figure is roughly 20% of all the donations made to Ukraine in the 18 months since the start of the war. “[The use of crypto] really is a game changer when it comes to the delivery of emergency aid, especially as we’re seeing more of a need for it as well, not just with Russia’s invasion of Ukraine, but with climate change and the increase in extreme weather events,” said Drew Simon, founder of Crypto Altruism, a platform that advocates for blockchain solutions in the non-profit sector. “Folks are being forced into having to leave their homes because of that. There’s going to be an increased need for more efficient and transparent delivery of aid, and I think blockchain enables that,” he added. Analytics firm Crystal Blockchain estimates that Ukraine had received over US$225 million in crypto donations by the end of last month. Image: Getty Images Russia-Ukraine war “Picture yourself in Ukraine while your family members are living overseas,” said Bohdan Opryshko, chief operating officer at Everstake, a Kyiv-based crypto staking firm. “They want to send you money, but the banking system is not operational.” The direct and immediate nature of blockchain transactions allows users to bypass the structural and administrative difficulties faced by the war-time state and its institutions, explained Opryshko. In that context, crypto “serves as a backup option where banks fail to deliver. Moreover, your knowledge of what is achievable and what is not can help fill gaps where the government falls short,” he said. But it’s not just family members and other individuals who have been sending crypto to those in need in Ukraine. Institutions are also making use of blockchain’s possibilities. Story continues Kyiv, Ukraine. Image: Hristo Sahatchiev/Unsplash In December 2022, the United Nations High Commission for Refugees (UNHCR) adopted a first-of-its-kind program to distribute cash assistance to a small group of Ukrainian refugees in the form of USDC — the world’s second largest stablecoin. The UNHCR partnered with the Stellar Development Foundation — specialists in crypto-to-fiat transfers — and MoneyGram International — a worldwide financial services provider with over 4,000 locations in Ukraine and almost 350,000 globally — to provide a broad and easily accessible range of withdrawal options for aid recipients. “Beneficiaries were able to activate the digital wallets within minutes and access their cash through the cash out network,” said Carmen Hett, corporate treasurer at the UNHCR. “The only prerequisites for beneficiaries who met the cash assistance criteria were digital literacy and possession of a smartphone,” she added. Hett confirmed that, after the successful completion of the pilot program in April, the UNHCR decided to continue with a “small scale up” of the operation. We just won 'Best Impact Project Award' at #PBW2023 for a pilot project using blockchain technology to disburse cash to people displaced by the war in Ukraine. Gradual scale-up is planned, considering context and focusing on the people we serve. More: https://t.co/JCTvWxo5Wm — UNHCR, the UN Refugee Agency (@Refugees) March 23, 2023 Advantages Hett and the program’s other organizers, which include USDC’s Boston-based issuers Circle, found that the speed and scalability of the stablecoin made it well suited for delivering aid in high volumes and in a very short period of time. “It’s really an amazing use of USDC,” said Corey Then, Circle’s vice president of global policy during an interview in May. “Folks who might be sitting in a basement while bombs are going off outside can receive money on this as long as they have an internet connection.” He highlighted the difficulties faced by organizations making humanitarian cash transfers in previous conflicts. “Some of that went to the right places, much of it didn’t, so it’s a huge inherent advantage with USDC and the blockchain,” he said. “From the UN’s perspective, not only can they get aid in faster, but they can actually track where it’s going. So this stands in stark contrast to some forms of aid disbursement.” A volunteer carries supplies at a Ukrainian cultural center in the country’s west. Image: Getty Images Pegged to the US dollar, USDC also ringfences the beneficiary from local currency volatility — the central bank in Kyiv devalued the Ukrainian hryvnia by over 25% against the US dollar in July 2022, five months into the war with Russia\xa0— while the immediacy of each transfer cuts out the need for a middleman, reducing transaction fees. That makes the use of stablecoins to deliver humanitarian aid “highly auditable, being on an immutable blockchain,” said Crypto Altruism’s Drew Simon. “You can see exactly where the funds are going,” he added. Ukrainian suitability When compared with many other places around the world — particularly low-infrastructure areas in the global south — Ukraine is well placed to carry out a pilot project involving stablecoins. Even before the war, the country boasted a disproportionately large number of crypto users, retail investors and tech professionals. While I cannot claim that cryptocurrency is an integral part of Ukrainian culture, it is undeniable that Ukrainians have a deep-rooted affinity for change and technological progress Bohdan Opryshko, chief operating officer at Everstake “While I cannot claim that cryptocurrency is an integral part of Ukrainian culture, it is undeniable that Ukrainians have a deep-rooted affinity for change and technological progress,” says Everstake’s Opryshko. He highlighted Ukraine’s scarce investment opportunities and distrust of the national banking system as reasons that an estimated 15.72% of Ukrainians own cryptocurrency. “There are limited options to preserve money and generate passive income. We don’t have a national stock market, and banks can face bankruptcy, leading Ukrainians to trust cryptocurrency wallets more,” Opryshko said. The “ not your keys, not your coins ” philosophy popularized in the crypto world to avoid scams also, he said, strikes many Ukrainians as “a safer approach than keeping money under the pillow or in a bank.” Despite the shortcomings in Ukraine’s traditional banking and other administrative systems that, in many cases, predated the war with Russia, receptivity to technology — including the blockchain — extends to the national government. On Feb. 26, 2022, the Ukrainian government’s official Twitter page posted Bitcoin and Ethereum addresses for donations to the war effort as part of its “Aid for Ukraine” initiative. According to a February report from Elliptic, by the end of 2022, the initiative had raised over US$29 million in Ethereum, US$22.7 million in Bitcoin, US$15.1 million in USDT and US$8.2 million in DOT, the native coin of the Polkadot blockchain. Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT. BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14 — Ukraine / Україна (@Ukraine) February 26, 2022 Beyond Ukraine While Ukraine may provide a receptive testing ground for blockchain-based humanitarian aid in times of war, Crypto Altruism’s Drew Simon highlighted its use across a variety of different crisis situations. He pointed to the millions of dollars in crypto donations that poured into Syria and Turkey in the wake of February’s earthquake, including via a number of different NFT projects that helped Turkish and Syrian artists sell their work to raise funds for impacted areas. Those efforts combined with large crypto donation platforms like the Giving Block Endowment to solicit donations for specific aid organizations on the ground in the region. “We definitely saw an outpouring of support, maybe not to that same level as in Ukraine, but there were definitely a number of NFT projects, philanthropic campaigns in the Web3 space,” Simon said. Elsewhere in the Middle East, he continued, innovative use of blockchain technologies have emerged in various forms — including the World Food Programme ’s Building Blocks project. The project — which began in 2017 — uses blockchain technology to securely transfer funds to displaced communities in a number of locations, including a settlement for Syrian refugees in Lebanon in September 2020. Soldiers in the Syrian conflict. Image: Mohammad Reza Jofar, Rajanews, edited “Refugees had funds deposited into their wallet on a blockchain, they went to the grocery store, their iris was scanned and then it automatically pulled up their wallet so they could purchase groceries,” Simon said. The system was beneficial, he said, as individual recipients could avoid vouchers, cash and other physical payment methods that are harder to retain and keep track of in the challenging environment of a refugee settlement. “I know there’s a lot of questions around the ethics around biometrics and I think that’s a whole different conversation, but there’s these really cool opportunities that make it a lot easier for folks that previously lacked access to traditional financial tooling,” Simon added. Potential pitfalls Regardless of ease of use, such programs require beneficiaries to give up information that, in less strained circumstances, they may think twice about sharing. That involves a degree of trust in not only the technology but also the benevolence of program organizers. If missing, that lack of trust can prove a high hurdle to overcome. The UNHCR’s Carmen Hett conceded as much when discussing the USDC pilot program in Ukraine, saying that “a lack of knowledge and distrust of the technology” among a small number of potential beneficiaries had prevented their participation. To avoid that scenario in future, she said, further investment in digital literacy is “crucial” for helping vulnerable communities in crisis situations adapt to the funding avenues opened up by blockchain technology. We’re just used to [the internet]. It’s a part of everyday life, and I think that that’s what we need to get to with Web3 as well, where the user interface and experience is so seamless and easy Drew Simon, Crypto Altruism For Crypto Altruism’s Drew Simon, that process can be simplified even further by removing the jargon that dominates the crypto industry, clouding understanding for newcomers. “Sure, it’s a revolutionary technology, but so is the internet and we don’t talk about whether a website is hosted on WordPress or Squarespace, what coding language is used to write an app, or how our email gets from point A to point B. It just does it, right?” Simon said. “We’re just used to [the internet]. It’s a part of everyday life, and I think that that’s what we need to get to with Web3 as well, where the user interface and experience is so seamless and easy,” he added. Real-world use Once those trust and understanding hurdles are overcome, the potential benefits could prove significant, with real world consequences for those in need. Everstake’s COO Bohdan Opryshko illustrated that point via a story from the early days of the Russian invasion, when an elderly priest living in a village in Ukraine contacted his firm by email. Smoke behind buildings following bombings in Kyiv, Ukraine on Feb. 27, 2022. Image: Getty Images Most of the working-age villagers had left to fight in the war, the priest explained, so he was collecting donations to help support those who were left behind. But his efforts were frustrated by the difficulty in sending and receiving large sums in both Ukrainian hryvnia and other international currencies. “So, we suggested sending the funds in cryptocurrency. A few hours later, he contacted us again, having figured everything out, and created a wallet on Binance linked to his card,” Opryshko said. The elderly priest had “defended his village” through the use of crypto, Opryshko added — not the worst use case for blockchain technology.", 'Good morning. Here’s what’s happening: Prices: Regulatory clarity is required for bitcoin to push past $30,000. Insights: Crypto options traders are betting against price turbulence, and BTC is unlikely to get a bullish catalyst. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover , our daily newsletter putting the latest moves in crypto markets in context. Prices CoinDesk Market Index (CMI) 1,251.63 +4.2 ▲ 0.3% Bitcoin (BTC) $29,161 +70.2 ▲ 0.2% Ethereum (ETH) $1,829 −3.4 ▼ 0.2% S&P 500 daily close 4,518.44 +40.4 ▲ 0.9% Gold $1,969 +35.9 ▲ 1.9% Treasury Yield 10 Years 4.08% ▲ 0.0 BTC/ETH prices per CoinDesk Indices ; gold is COMEX spot price. Prices as of about 4 p.m. ET CoinDesk Market Index (CMI) 1,251.63 +4.2 ▲ 0.3% Bitcoin (BTC) $29,161 +70.2 ▲ 0.2% Ethereum (ETH) $1,829 −3.4 ▼ 0.2% S&P 500 daily close 4,518.44 +40.4 ▲ 0.9% Gold $1,969 +35.9 ▲ 1.9% Treasury Yield 10 Years 4.08% ▲ 0.0 BTC/ETH prices per CoinDesk Indices ; gold is COMEX spot price. Prices as of about 4 p.m. ET What Will Make Bitcoin Reach $30K? Cryptocurrency markets closed fairly flat on Monday, with the CoinDesk Market Index (CMI) up 0.23%, bitcoin (BTC) up 0.57% to $29,165 , and ether (ETH) flat at $1,826 . The question on everyone’s mind, is what will move bitcoin past the $30,000 mark? Bullish traders are eyeing the upcoming U.S. July Consumer Price Index report for signs of continued inflation trends, with expectations set at a 0.2% monthly increase and a 3.3% year-over-year growth. In the backdrop is the Federal Reserve\'s historical monetary tightening and subsequent market anticipation of rate cuts, which have historically been intertwined with bitcoin\'s recent price fluctuations. But a big question is will this be a bullish catalyst for the world’s largest digital asset? CPI could also come in higher than expected, which would signal that rate hikes are not yet done. Story continues In a recent appearance on CoinDesk TV , "The Crypto Trader" author Glen Goodman said it\'s concerning that bitcoin hasn’t moved all that much in the last few months and more regulatory clarity is required for the market to move. "I\'m not very impressed with bitcoin. You\'ll remember months ago there was a strong correlation between the S&P 500 and bitcoin. We were following that for the best part of a year, and that correlation has pretty much broken down," he said. Goodman argues that a break below $25,000 would be the end of the 2023 bull market. But to even get to that point, there needs to be a big change in the regulatory environment. “The exchanges need to be reliable,” he said. “Nobody worries about if the New York Stock Exchange is going to exist next week.” Biggest Gainers Asset Ticker Returns DACS Sector Chainlink LINK +3.1% Computing Loopring LRC +1.5% Smart Contract Platform Stellar XLM +1.1% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Shiba Inu SHIB −5.2% Currency Decentraland MANA −3.4% Entertainment Terra LUNA −3.1% Smart Contract Platform Insights Crypto Options Traders Bet Against Volatility: There is a lot of market chatter about an impending volatility explosion of bitcoin. Still, some crypto traders retain a bias for shorting volatility — that is, setting up strategies that bet against price turbulence. Bitcoin, the leading cryptocurrency by market value, has primarily traded in the range of $29,000 to $30,000 since July 24. That\'s below the $30,000-$32,000 range of the preceding four weeks. The cryptocurrency\'s price hasn\'t risen more than 4% in a single day since June 21. As such, key metrics gauging bitcoin\'s backward-looking realized volatility and estimated or implied volatility have tanked to multiyear lows. CPI Preview, Bitcoin Unlikely to Get Bullish Catalyst: Bitcoin ( BTC ) bulls are hoping for continued good news on the U.S. inflation front from Thursday morning\'s July Consumer Price Index report from the Bureau of Labor Statistics. Economists expect a 0.2% increase on a monthly basis, the same increase as seen in June. Year-over-year growth is forecast at 3.3%, up from 3% in June. Headline inflation, which is not adjusted for seasonal factors and which includes often-volatile food and energy prices, peaked at 9.1% in June 2022 and was running at an 8.5% pace in July of last year. Important events. 8:30 a.m. HKT/SGT(00:30 UTC) Australia Westpac Consumer Confidence (Aug) 11:00 a.m. HKT/SGT(3:00 UTC) China Trade Balance USD (July) 2:00 p.m. HKT/SGT(6:00 UTC) European Union Harmonized Index of Consumer Prices (YoY/July) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Curve Recovers 73% of Hacked Funds; Bitcoin Flirts With $30K Bitcoin remained stagnant at $29K, teasing $30K. What will it take to push it past $30K? "The Crypto Trader" author Glen Goodman weighed in. Sandra Leow from Nansen discussed the latest developments with Curve Finance as white hat hackers and attackers return over 73% of all funds stolen from the exploit. And, Moses Singer partner Howard Fischer reacted to the latest legal update between Coinbase and the SEC. Headlines PayPal to Issue Dollar-Pegged Crypto Stablecoin Based on Ethereum : The token will be available first on PayPal and then on Venmo, and can be exchanged for U.S. dollars at any time. It\'s ChatGPT, but for Bitcoin: New AI Tool Avoids \'Hallucinations\' : An experimental version of the Bitcoin-focused AI chatbot was released on Thursday by Chaincode Labs, which says its new "ChatBTC" is less likely to give incorrect answers about the original blockchain, or to “hallucinate” like the more popular (and generalist) ChatGPT. Curve Recoups 73% of Hacked Funds, Bolstering CRV Sentiment : A public bounty is now open for finding the remaining funds with a $1.8 million reward. Mantle Introduces New Governing Body for Treasury Management : The new layer 2 network passed a governance vote that establishes the Mantle Economics Committee as well as introduces more liquid staking into the ecosystem by authorizing liquid staking protocol Mantle LSD and the allocation of 40,000 ETH from its treasury to stETH. Lido Attracted 10K Ether Stakers to Protocol in July : The largest staking service provider also crossed $15 billion in total value locked, a level not seen since May 2022.', 'Bitcoin edged up on Tuesday morning in Asia after U.S. multinational payment giant PayPal launched a U.S. dollar-pegged stablecoin on Monday. Ether was still treading water, however, as all other top 10 non-stablecoin cryptocurrencies traded flat to lower. Dogecoin led the losers. Meanwhile, the Forkast 500 NFT index rose, as NFT trading volume also picked up. U.S. stock futures traded flat after Wall Street closed higher on Monday, as investors await the release of U.S. inflation data Thursday. Pivotal role for PayPal stablecoin? Bitcoin edged up 0.28% in the last 24 hours to US$29,133.55 as of 07:30 a.m. in Hong Kong but remained down 0.25% for the week, according to CoinMarketCap data. The world’s leading cryptocurrency briefly dropped to a low of US$28,724.14 on early Tuesday morning. Digital asset investment products saw outflows totaling US$107 million in the week ending August 4, according to a Monday report by European alternative asset manager CoinShares. That marked the fourth consecutive week of outflows as profit taking gathered pace in recent weeks. Bitcoin-related products saw weekly outflows totaling US$111 million, the largest for a week since March. However, outflows into Bitcoin short positions stopped for the first time in the past 14 weeks, according to the CoinShares report. Allowing investors to profit when the token’s price drops, the report’s authors said that the stall in short position outflows suggests institutional investors may be adjusting their Bitcoin strategies. Ether dipped 0.13% to US$1,824.53, and lost 1.72% over the past seven days. Paypal ramped up its efforts in the Web3 space by launching the PayPal USD (PYUSD) stablecoin on Monday. The Ethereum-based token is issued by Paxos Trust Company — the U.S.-based issuer of Binance’s BUSD stablecoin — and is fully backed by U.S. dollar deposits, short-term U.S. treasuries and similar cash equivalents. Paypal’s stablecoin project was reportedly halted in February 2023 amid increased scrutiny from U.S. regulators toward stablecoins — including an order for Paxos to stop minting BUSD. Today, we’re unveiling a new stablecoin, PayPal USD (PYUSD). It’s designed for payments and is backed by highly liquid and secure assets. Starting today and rolling out in the next few weeks, you’ll be able to buy, sell, hold and transfer PYUSD. Learn more https://t.co/53RRBhmNHx pic.twitter.com/53ur2KmjU7 — PayPal (@PayPal) August 7, 2023 “PayPal’s news today is a testament to the burgeoning popularity of DeFi,” said Tony Petrov, chief legal officer at identity verification platform Sumsub . Story continues The move highlights the “pivotal role” to be played by stablecoins as a bridge between digital and fiat currencies, Petrov continued. “This rapid ascent signals a major transformation in the cryptocurrency ecosystem, and the potential impact of stablecoins on the global financial landscape is an exciting development to monitor closely,” he added. Other top 10 non-stablecoin cryptocurrencies all traded lower, with Dogecoin leading the losers. The meme token dropped 1.65% to US$0.07325 and logged a weekly loss of 5.86%. The month of July saw a decrease in crypto trading activities, with Bitcoin volume decreasing 13.1% during the month, Ether falling by 21.9% and stablecoins volumes down 12.3%. “The data emphasizes a moment of low activity in the market, which follows a strong uptrend in the first half of 2023,” said Greco, research analyst at Canada-based digital asset and fintech investment firm Fineqia International . “Summer months are notoriously among the ones with the lowest level of trading activity and 2023 data are perfectly aligned with historical metrics on the matter. The overall outlook for 2023 remains extremely positive so far as the institutional / service providers’ news seen in the past few weeks still indicates strong interest towards the market,” Greco added. For Greco, signs of that interest include multiple applications in the U.S. for exchange-traded funds (ETF) for Bitcoin and Ether. He also pointed to Hong Kong, where regulators have granted crypto exchanges HashKey Exchange and OKX licenses to offer crypto trading services to retail investors. The total crypto market capitalization edged up 0.11% in the past 24 hours to US$1.16 trillion, while trading volume gained 59.07% to US$32.76 billion. Tremors of NFT excitement following PayPal news The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index gained 0.62% in the past 24 hours to 2,478.88 as of 10:50 a.m. in Hong Kong. However, it was still down 1.36% lower for the week. Forkast’s Ethereum, Solana, Polygon and Cardano indexes logged losses. Total NFT trading volume rose 15.80% in the past 24 hours to US$13.09 million, according to data from CryptoSlam . The volumes on Ethereum, Solana, Polygon, Bitcoin and Cardano blockchains all logged increases. “Paypal announcing the launch of a stablecoin has excited the NFT market a bit, as they look forward to an easy way to onboard the masses to crypto,” said Yehudah Petscher, NFT strategist for Forkast Labs. However, NFT trading activity remains downbeat compared to the meteoric highs of late 2021 and 2022. Total NFT trading volume last week totaled US$87.76 million, over 60% lower than the start of the year, according to CryptoSlam. “Now, sales volume is clearly lower. (But) It’s not the only measurement of growth,” said Petscher in a Youtube video posted Monday. Unique buyers, unique sellers and total transactions have all grown considerably since this time two years ago, he added. “But the ecosystem has matured. The NFTs are getting cheaper. The supply is getting greater. It’s a different space. And it’s exactly what we need to reach the masses,” Petscher said. In terms of NFT collections, Mythos Chain-based NFT marketplace DMarket posted the largest 24-hour trading volume but still dipped 4.48% to US$931,685. ImmutableX-based Gods Unchained Cards and Ethereum-based Mutant Ape Yacht Club (MAYC) ranked second and third. Grails IV , the latest NFT collection issued by NFT startup Proof, started minting on Monday. The collection features artwork from 20 artists whose identities will be revealed when minting is completed Friday. The Grails minting window has opened. In less than an hour, more than 450 pieces have been minted. Grails #3, 4, 5, 18, and 19 are sold out! Which did you choose? https://t.co/PquuNwVUOl — PROOF (🥃,🦉) (@proof_xyz) August 7, 2023 “Proof’s Grails IV collection has started minting, so expect some movement with art in general as collectors welcome some new future grails to their wallets. Artists will reveal soon which should add some excitement to the space,” said Petscher. China export woes and more US rate hikes ahead? Image: Getty Images U.S. stock futures traded lower as of 11:50 a.m. on Tuesday in Hong Kong after the three major U.S. stock indexes closed higher in regular trading on Monday. In Asia, the main stock indexes were mixed on Tuesday morning. China’s Shanghai Composite and South Korea’s Kospi remained flat, Japan’s Nikkei logged gains, while Hong Kong’s Hang Seng dropped. Amid the U.S. second-quarter reporting season, 79% of S&P 500 companies have released earnings higher than analyst expectations. That is the highest beat rate since the third quarter of 2021, Reuters reported on Monday citing data from Refinitiv. Investors now await U.S. consumer price index (CPI) data on Thursday. Analysts expect core CPI to rise 0.2% in July, which would be the smallest monthly increase in the past two and a half years. Meanwhile, U.S. Federal Reserve Governor Michelle Bowman sa i d on Monday that multiple interest rate hikes may still be needed to curb inflation. “We have made progress in lowering inflation over the past year, but inflation is still significantly above the FOMC’s two percent target, and the labor market continues to be tight, with job openings still far exceeding the number of available workers,” said Bowman in a Monday speech. “Given these developments, I supported raising the federal funds rate at our July meeting, and I expect that additional increases will likely be needed to lower inflation to the FOMC’s goal,” said Bowman. The Fed meets on September 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at the CME FedWatch Tool predict a 86.5% chance there will be no interest rate hike in September, and a 13.5% chance the Fed will raise rates by a further 25-basis-points. Elsewhere, China’s exports in July slid 14.5% year-on-year to US$201.16 billion. Imports also posted an annual decrease of 12.4%, Chinese state media Xinhua News Agency reported on Tuesday. As the country attempts to support its economic recovery by stimulating domestic demand, the drop in July exports was the biggest decline since February 2020. The figure fell well below analyst expectations. “The government policy so far has changed but more on the property sector, and not much on boosting demand,” Zhang Zhiwei, chief economist at Pinpoint Asset Management Ltd, told Bloomberg. “So the economic situation is still quite challenging.” (Updates to add equities section.) View comments', 'Bitcoin edged up on Tuesday morning in Asia after U.S. multinational payment giant PayPal launched a U.S. dollar-pegged stablecoin on Monday. Ether was still treading water, however, as all other top 10 non-stablecoin cryptocurrencies traded flat to lower. Dogecoin led the losers. Meanwhile, the Forkast 500 NFT index rose, as NFT trading volume also picked up. U.S. stock futures traded flat after Wall Street closed higher on Monday, as investors await the release of U.S. inflation data Thursday.\nBitcoin edged up 0.28% in the last 24 hours to US$29,133.55 as of 07:30 a.m. in Hong Kong but remained down 0.25% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency briefly dropped to a low of US$28,724.14 on early Tuesday morning.\nDigital asset investment products saw outflows totaling US$107 million in the week ending August 4, according to a Mondayreportby European alternative asset manager CoinShares. That marked the fourth consecutive week of outflows as profit taking gathered pace in recent weeks.\nBitcoin-related products saw weekly outflows totaling US$111 million, the largest for a week since March. However, outflows into Bitcoin short positions stopped for the first time in the past 14 weeks, according to the CoinShares report. Allowing investors to profit when the token’s price drops, the report’s authors said that the stall in short position outflows suggests institutional investors may be adjusting their Bitcoin strategies.\nEther dipped 0.13% to US$1,824.53, and lost 1.72% over the past seven days.\nPaypal ramped up its efforts in the Web3 space bylaunchingthe PayPal USD (PYUSD) stablecoin on Monday. The Ethereum-based token is issued by Paxos Trust Company — the U.S.-based issuer of Binance’s BUSD stablecoin — and is fully backed by U.S. dollar deposits, short-term U.S. treasuries and similar cash equivalents.\nPaypal’s stablecoin project was reportedlyhaltedin February 2023 amid increased scrutiny from U.S. regulators toward stablecoins — including anorderfor Paxos to stop minting BUSD.\n“PayPal’s news today is a testament to the burgeoning popularity of DeFi,” said Tony Petrov, chief legal officer at identity verification platformSumsub.\nThe move highlights the “pivotal role” to be played by stablecoins as a bridge between digital and fiat currencies, Petrov continued. “This rapid ascent signals a major transformation in the cryptocurrency ecosystem, and the potential impact of stablecoins on the global financial landscape is an exciting development to monitor closely,” he added.\nOther top 10 non-stablecoin cryptocurrencies all traded lower, with Dogecoin leading the losers. The meme token dropped 1.65% to US$0.07325 and logged a weekly loss of 5.86%.\nThe month of July saw a decrease in crypto trading activities, with Bitcoin volume decreasing 13.1% during the month, Ether falling by 21.9% and stablecoins volumes down 12.3%.\n“The data emphasizes a moment of low activity in the market, which follows a strong uptrend in the first half of 2023,” said Greco, research analyst at Canada-based digital asset and fintech investment firmFineqia International.\n“Summer months are notoriously among the ones with the lowest level of trading activity and 2023 data are perfectly aligned with historical metrics on the matter. The overall outlook for 2023 remains extremely positive so far as the institutional / service providers’ news seen in the past few weeks still indicates strong interest towards the market,” Greco added.\nFor Greco, signs of that interest include multipleapplicationsin the U.S. for exchange-traded funds (ETF) for Bitcoin and Ether. He also pointed to Hong Kong, where regulators havegrantedcrypto exchanges HashKey Exchange and OKX licenses to offer crypto trading services to retail investors.\nThe total crypto market capitalization edged up 0.11% in the past 24 hours to US$1.16 trillion, while trading volume gained 59.07% to US$32.76 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexgained 0.62% in the past 24 hours to 2,478.88 as of 10:50 a.m. in Hong Kong. However, it was still down 1.36% lower for the week. Forkast’s Ethereum, Solana, Polygon and Cardano indexes logged losses.\nTotal NFT trading volume rose 15.80% in the past 24 hours to US$13.09 million, according to data fromCryptoSlam. The volumes on Ethereum, Solana, Polygon, Bitcoin and Cardano blockchains all logged increases.\n“Paypal announcing the launch of a stablecoin has excited the NFT market a bit, as they look forward to an easy way to onboard the masses to crypto,” said Yehudah Petscher, NFT strategist for Forkast Labs.\nHowever, NFT trading activity remains downbeat compared to the meteoric highs of late 2021 and 2022. Total NFT trading volume last week totaled US$87.76 million, over 60% lower than the start of the year, according to CryptoSlam.\n“Now, sales volume is clearly lower. (But) It’s not the only measurement of growth,” said Petscher in a Youtubevideoposted Monday. Unique buyers, unique sellers and total transactions have all grown considerably since this time two years ago, he added.\n“But the ecosystem has matured. The NFTs are getting cheaper. The supply is getting greater. It’s a different space. And it’s exactly what we need to reach the masses,” Petscher said.\nIn terms of NFT collections, Mythos Chain-based NFT marketplace DMarket posted the largest 24-hour trading volume but still dipped 4.48% to US$931,685. ImmutableX-based Gods Unchained Cards and Ethereum-based Mutant Ape Yacht Club (MAYC) ranked second and third.\nGrails IV, the latest NFT collection issued by NFT startup Proof, started minting on Monday. The collection features artwork from 20 artists whose identities will be revealed when minting is completed Friday.\n“Proof’s Grails IV collection has started minting, so expect some movement with art in general as collectors welcome some new future grails to their wallets. Artists will reveal soon which should add some excitement to the space,” said Petscher.\nU.S. stock futurestradedlower as of 11:50 a.m. on Tuesday in Hong Kong after the three major U.S. stock indexes closed higher in regular trading on Monday.\nIn Asia, the main stock indexes were mixed on Tuesday morning. China’sShanghai Compositeand South Korea’sKospiremained flat, Japan’sNikkeilogged gains, while Hong Kong’sHang Sengdropped.\nAmid the U.S. second-quarter reporting season, 79% of S&P 500 companies have released earnings higher than analyst expectations. That is the highest beat rate since the third quarter of 2021, Reutersreportedon Monday citing data from Refinitiv.\nInvestors now await U.S. consumer price index (CPI) data on Thursday. Analystsexpectcore CPI to rise 0.2% in July, which would be the smallest monthly increase in the past two and a half years.\nMeanwhile, U.S. Federal Reserve Governor Michelle Bowmansaidon Monday that multiple interest rate hikes may still be needed to curb inflation.\n“We have made progress in lowering inflation over the past year, but inflation is still significantly above the FOMC’s two percent target, and the labor market continues to be tight, with job openings still far exceeding the number of available workers,” said Bowman in a Monday speech.\n“Given these developments, I supported raising the federal funds rate at our July meeting, and I expect that additional increases will likely be needed to lower inflation to the FOMC’s goal,” said Bowman.\nThe Fed meets on September 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 86.5% chance there will be no interest rate hike in September, and a 13.5% chance the Fed will raise rates by a further 25-basis-points.\nElsewhere, China’s exports in July slid 14.5% year-on-year to US$201.16 billion. Imports also posted an annual decrease of 12.4%, Chinese state media Xinhua News Agencyreportedon Tuesday.\nAs the country attempts to support its economic recovery by stimulating domestic demand, the drop in July exports was the biggest decline since February 2020. The figure fell well below analyst expectations.\n“The government policy so far has changed but more on the property sector, and not much on boosting demand,” Zhang Zhiwei, chief economist at Pinpoint Asset Management Ltd,toldBloomberg. “So the economic situation is still quite challenging.”\n(Updates to add equities section.)', 'Bitcoin edged up on Tuesday morning in Asia after U.S. multinational payment giant PayPal launched a U.S. dollar-pegged stablecoin on Monday. Ether was still treading water, however, as all other top 10 non-stablecoin cryptocurrencies traded flat to lower. Dogecoin led the losers. Meanwhile, the Forkast 500 NFT index rose, as NFT trading volume also picked up. U.S. stock futures traded flat after Wall Street closed higher on Monday, as investors await the release of U.S. inflation data Thursday.\nBitcoin edged up 0.28% in the last 24 hours to US$29,133.55 as of 07:30 a.m. in Hong Kong but remained down 0.25% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency briefly dropped to a low of US$28,724.14 on early Tuesday morning.\nDigital asset investment products saw outflows totaling US$107 million in the week ending August 4, according to a Mondayreportby European alternative asset manager CoinShares. That marked the fourth consecutive week of outflows as profit taking gathered pace in recent weeks.\nBitcoin-related products saw weekly outflows totaling US$111 million, the largest for a week since March. However, outflows into Bitcoin short positions stopped for the first time in the past 14 weeks, according to the CoinShares report. Allowing investors to profit when the token’s price drops, the report’s authors said that the stall in short position outflows suggests institutional investors may be adjusting their Bitcoin strategies.\nEther dipped 0.13% to US$1,824.53, and lost 1.72% over the past seven days.\nPaypal ramped up its efforts in the Web3 space bylaunchingthe PayPal USD (PYUSD) stablecoin on Monday. The Ethereum-based token is issued by Paxos Trust Company — the U.S.-based issuer of Binance’s BUSD stablecoin — and is fully backed by U.S. dollar deposits, short-term U.S. treasuries and similar cash equivalents.\nPaypal’s stablecoin project was reportedlyhaltedin February 2023 amid increased scrutiny
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-08
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $575,259,770,025
- Hash Rate: 325156812.74215025
- Transaction Count: 331194.0
- Unique Addresses: 616643.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.54
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: All Other Senior Secured Debt Repaid by the Company LAS VEGAS, July 21, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), is pleased to announce that it, alongside several subsidiaries, has successfully secured an additional $8.8 million in senior debt financing (the " Loans ") from a group of existing institutional lenders (the " Lenders "). The Company previously borrowed $18.9 million from the Lenders in November 2022, which together with the new Loans, have an aggregate outstanding amount of $24.3 million. The Loans mature on May 7, 2024, accumulate interest at a favorable annual rate of 8.5% and are secured against select assets of the Company and certain of its subsidiaries. "Our relationship with the Lenders has proven to be a significant asset to the growth and stability of Ault Alliance," said Milton "Todd" Ault III, Founder and Executive Chairman of the Company. "The Lenders have consistently exhibited supportiveness and a willingness to fuel our future growth endeavors. This favorable borrowing rate is another testament to our relationship." Kenneth S. Cragun, Chief Financial Officer, further added, "We have paid off all other senior secured debts at the Company, and the new Loans announced today provide needed working capital to further strengthen our financial position. We are elated to maintain such a solid senior lending relationship and feel incredibly comfortable with the Lenders as our partners for future ventures." Loan guarantees have been furnished by Ault Lending, LLC, a subsidiary of the Company, Ault & Company, Inc., an affiliate of the Company, as well as by Milton C. Ault, III, the Company’s Executive Chairman and the Chief Executive Officer of Ault & Company, Inc. The proceeds from the Loans will primarily be deployed for augmenting working capital and facilitating the general operational needs of the Company. The new Loans were issued with an original issue discount of $1.3 million. Story continues For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or available at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20230720100820/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin rose on Wednesday morning in Asia to trade above US$29,700. Ether also logged gains along with all other top 10 non-stablecoin cryptocurrencies. Solana led the winners with an almost 5% jump. The crypto rally followed PayPal’s launch of a U.S. dollar-pegged stablecoin on Monday. That coincided with a sharp drop in global government bond yields Tuesday after the release of China’s weaker-than-expected economic data. Meanwhile, the Forkast 500 NFT index edged higher on increased trading volumes, while U.S. stock futures traded lower as ratings agency Moody’s downgraded several mid-size U.S. banks.\nBitcoin rose 2.02% in the last 24 hours to US$29,764.75 as of 07:50 a.m. in Hong Kong and moved up 0.41% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency briefly breached the US$30,000 resistance level on early Wednesday morning.\nEther gained 1.61% to US$1,855.88 but was still down 0.82% over the past seven days. All other top 10 non-stablecoin cryptocurrencies traded higher, with Solana’s SOL leading the winners. The token rose 4.93% to US$24.19 and logged a weekly gain of 1.07%.\nThe crypto market received a boost from global payment giant PayPal’s stablecoinlaunchon Monday. Known as PayPal USD (PYUSD), the stablecoin will allow users in the U.S. to make transfers to compatible external wallets, pay other customers and purchase foreign currencies using the token.\n“PayPal’s stablecoin launch is an important development for crypto within the U.S. Although the initial launch is limited, with PayPal’s size and global reach, it is likely to impact global stablecoin usage and adoption going forward,” said William Cai, co-founder and managing partner at U.S.-based asset management firm Wilshire Phoenix.\n“It is another clear signal of institutional confidence that crypto isn’t going away and will emerge from this ‘crypto winter’ stronger,” added Cai. “Stablecoin is the grease of the crypto markets. Overall increase in stablecoin market cap will coincide with a major upward trend in crypto prices.”\nGreta Yuan, head of research at Hong Kong-headquartered digital asset exchange VDX, said that while it is not the first time major institutions have entered the stablecoin space, previous attempts met with substantial regulatory obstacles.\n“The recent progress of a bill aimed at establishing a federal regulatory framework for stablecoins, coupled with PayPal’s deep expertise in the payment industry, has the potential to set up PayPal for a more promising growth path,” Yuan added\nMeanwhile, Ark Invest Chief Executive Officer Cathie Woodsaidin a Tuesday interview with Bloomberg that she expected the U.S. Securities and Exchange Commission (SEC) to approve multiple spot-Bitcoin exchange-traded funds (ETF) at the same time.\nThere is now a growing sense of optimism that successful ETF applications frommajor U.S. asset managersincluding BlackRock, Fidelity Investments and Wisdom Tree could be the start of large-scale institutional investment in the digital asset space.\nLater on Tuesday, Mike Novogratz, CEO of investment management firm Galaxy Capital, reportedlysaidvia conference call that the SEC’s approval of a Bitcoin ETF was likely a matter of “when, not if.” Issuers of Bitcoin ETF would, he said, “fight like cats and dogs to win market share” once they received approvals.\n“This could have caused the 3-4% rally in Bitcoin prices overnight,” said Markus Thielen, Head of Research & Strategy at digital asset service platform Matrixport.\n“A common pattern is emerging where Bitcoin prices tend to rally during US trading hours but retrace during Asian trading hours,” Thielen added. “Nevertheless, Bitcoin is still in a trading range but a potential SEC approval could push prices higher.”\nThe total crypto market capitalization gained 1.71% in the past 24 hours to US$1.18 trillion, while trading volume moved up 9.37% to US$36 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexinched up 0.14% in the past 24 hours to 2,483.18 as of 09:50 a.m. in Hong Kong, but was still down 0.90% for the week. Forkast’s Ethereum NFT index also logged gains, while the Solana, Polygon and Cardano indexes dropped.\nTotal NFT trading volume surged 64.03% in the past 24 hours to over US$20.4 million, according to data fromCryptoSlam. Volume on the Ethereum, Solana, Polygon, and Cardano blockchains all also logged increases, while the Bitcoin blockchain saw a drop.\n“Again we’re in the green and suddenly there’s a little pep in traders’ step,” said Yehudah Petscher, NFT strategist for Forkast Labs.\n“We’re really beginning to see the type of NFTs that do well in this market, which is cheaper NFTs with high volume. DMarket, Gods Unchained, Sorare and DraftKings all represent a form of gaming, all are pretty darn affordable, and all have thousands of traders. This is what the future of NFTs will really look like,” Petscher added.\nAmong NFT collections, Polygon-based DraftKings saw the largest 24-hour sales volume. It rose 26.23% to over US$4.12 million for 85% of total NFT trading volume on the Polygon network. The collection is based on sports and betting company DraftKings’ NFT games.\nForkast Labs’ Petscher said that Paypal’s stablecoin launch is providing a timely boost for the NFT industry. The global payment giant could prove successful in onboarding those unfamiliar with cryptocurrencies into the NFT space, he said Tuesday in avideouploaded to Youtube.\n“Give them some PayPal stablecoin and then watch OpenSea integrated, and then let them buy Starbucks NFTs on secondary with their PayPal stablecoins,” Petscher said. “This is huge for the world of crypto and it’s huge for NFTs. This is what building looks like.”\nMeanwhile, NFTs are seeing growing interest in the art space.\nU.K.-based NFT platform ElmonXannouncedWednesday that it will partner with international image licensing company Bridgeman Images to mint “Salvator Mundi” — a painting attributed to Leonardo da Vinci — as NFT collectibles. The painting was sold for US$$450.3 million at the Christie’s auction house in 2017, making it the most expensive artwork ever sold.\nElsewhere, Chinese artist Yue Minjun on Tuesday launchedKingdom of the Laughing Man— a collection of unique NFTs based on his artworks — on NFT platform LiveArt. The collection has logged a 24-hour sales volume of over US$978,000 and sits third in Crypto Slam’s sales volume rankings, right behind Bored Ape Yacht Club.\nU.S. stock futurestradedmixed as of 11:50 a.m. in Hong Kong. Dow Jones Industrial Average futures dipped, while the S&P 500 and Nasdaq futures moved higher. The U.S. stock market closed lower on Tuesday.\nIn Asia, the main stock indexes were also mixed on Wednesday morning. China’sShanghai Composite, Hong Kong’sHang Sengand Japan’sNikkeilogged losses, while South Korea’sKospirose.\nOn Tuesday, Moody’s Investor Serviceloweredthe credit rating of 10 small and midsize U.S. banks citing funding risks and weaker profitability. The ratings agency warned that it could downgrade several other major U.S. lenders including U.S. Bancorp, Bank of New York Mellon Corp. and State Street Corp.\n“I think it’s a big deal in the bigger picture of how the economy operates, because regional banks’ lending is one of the main lubricants of the economy,” said Jason Pride, chief of investment strategy and research at asset manager Glenmede, in a Reutersreportpublished Wednesday.\n“If it slows down, the engine just doesn’t work as well,” Pride added.\nAll eyes are now on the release of U.S. consumer price index (CPI) data on Thursday. Bloomberg analystsexpectthe core CPI to rise 0.2% in July, which would be the smallest monthly increase in the past two and a half years.\nOn the U.S. inflation front, the Federal Reserve meets on Sep. 19 to make its next move on interest rates.\nThe rate now stands at between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 86.5% chance there will be no interest rate hike in September, and a 13.5% chance the Fed will raise rates by a further 25-basis-points.\nMeanwhile in China, the country’s July CPI posted an annual decrease of 0.3%. The Producer Price Index (PPI) also dropped 4.4% year-on-year, Chinese state media Xinhua News AgencyreportedWednesday.\nThe dip in July CPI data represents China’s first annual decline since February 2021. However, the drop was smaller than the analysts’ expectation of 0.4%.\n“China is in deflation, for sure, the question is for how long.” Robin Xing, chief China economist for Morgan Stanley,toldBloomberg. “It’s up to the policy makers how they react.”\n(Updates with equities section.)', "Bitcoin rose on Wednesday morning in Asia to trade above US$29,700. Ether also logged gains along with all other top 10 non-stablecoin cryptocurrencies. Solana led the winners with an almost 5% jump. The crypto rally followed PayPal’s launch of a U.S. dollar-pegged stablecoin on Monday. That coincided with a sharp drop in global government bond yields Tuesday after the release of China’s weaker-than-expected economic data. Meanwhile, the Forkast 500 NFT index edged higher on increased trading volumes, while U.S. stock futures traded lower as ratings agency Moody’s downgraded several mid-size U.S. banks. Cryptos rally Bitcoin rose 2.02% in the last 24 hours to US$29,764.75 as of 07:50 a.m. in Hong Kong and moved up 0.41% for the week, according to CoinMarketCap data. The world’s leading cryptocurrency briefly breached the US$30,000 resistance level on early Wednesday morning. Ether gained 1.61% to US$1,855.88 but was still down 0.82% over the past seven days. All other top 10 non-stablecoin cryptocurrencies traded higher, with Solana’s SOL leading the winners. The token rose 4.93% to US$24.19 and logged a weekly gain of 1.07%. The crypto market received a boost from global payment giant PayPal’s stablecoin launch on Monday. Known as PayPal USD (PYUSD), the stablecoin will allow users in the U.S. to make transfers to compatible external wallets, pay other customers and purchase foreign currencies using the token. “PayPal’s stablecoin launch is an important development for crypto within the U.S. Although the initial launch is limited, with PayPal’s size and global reach, it is likely to impact global stablecoin usage and adoption going forward,” said William Cai, co-founder and managing partner at U.S.-based asset management firm Wilshire Phoenix. “It is another clear signal of institutional confidence that crypto isn’t going away and will emerge from this ‘crypto winter’ stronger,” added Cai. “Stablecoin is the grease of the crypto markets. Overall increase in stablecoin market cap will coincide with a major upward trend in crypto prices.” Greta Yuan, head of research at Hong Kong-headquartered digital asset exchange VDX, said that while it is not the first time major institutions have entered the stablecoin space, previous attempts met with substantial regulatory obstacles. “The recent progress of a bill aimed at establishing a federal regulatory framework for stablecoins, coupled with PayPal’s deep expertise in the payment industry, has the potential to set up PayPal for a more promising growth path,” Yuan added Meanwhile, Ark Invest Chief Executive Officer Cathie Wood said in a Tuesday interview with Bloomberg that she expected the U.S. Securities and Exchange Commission (SEC) to approve multiple spot-Bitcoin exchange-traded funds (ETF) at the same time. Story continues There is now a growing sense of optimism that successful ETF applications from major U.S. asset managers including BlackRock, Fidelity Investments and Wisdom Tree could be the start of large-scale institutional investment in the digital asset space. Later on Tuesday, Mike Novogratz, CEO of investment management firm Galaxy Capital, reportedly said via conference call that the SEC’s approval of a Bitcoin ETF was likely a matter of “when, not if.” Issuers of Bitcoin ETF would, he said, “fight like cats and dogs to win market share” once they received approvals. “This could have caused the 3-4% rally in Bitcoin prices overnight,” said Markus Thielen, Head of Research & Strategy at digital asset service platform Matrixport. “A common pattern is emerging where Bitcoin prices tend to rally during US trading hours but retrace during Asian trading hours,” Thielen added. “Nevertheless, Bitcoin is still in a trading range but a potential SEC approval could push prices higher.” The total crypto market capitalization gained 1.71% in the past 24 hours to US$1.18 trillion, while trading volume moved up 9.37% to US$36 billion. Some pep in the step for NFTs The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index inched up 0.14% in the past 24 hours to 2,483.18 as of 09:50 a.m. in Hong Kong, but was still down 0.90% for the week. Forkast’s Ethereum NFT index also logged gains, while the Solana, Polygon and Cardano indexes dropped. Total NFT trading volume surged 64.03% in the past 24 hours to over US$20.4 million, according to data from CryptoSlam . Volume on the Ethereum, Solana, Polygon, and Cardano blockchains all also logged increases, while the Bitcoin blockchain saw a drop. “Again we’re in the green and suddenly there’s a little pep in traders’ step,” said Yehudah Petscher, NFT strategist for Forkast Labs. “We’re really beginning to see the type of NFTs that do well in this market, which is cheaper NFTs with high volume. DMarket, Gods Unchained, Sorare and DraftKings all represent a form of gaming, all are pretty darn affordable, and all have thousands of traders. This is what the future of NFTs will really look like,” Petscher added. Among NFT collections, Polygon-based DraftKings saw the largest 24-hour sales volume. It rose 26.23% to over US$4.12 million for 85% of total NFT trading volume on the Polygon network. The collection is based on sports and betting company DraftKings’ NFT games. Forkast Labs’ Petscher said that Paypal’s stablecoin launch is providing a timely boost for the NFT industry. The global payment giant could prove successful in onboarding those unfamiliar with cryptocurrencies into the NFT space, he said Tuesday in a video uploaded to Youtube. “Give them some PayPal stablecoin and then watch OpenSea integrated, and then let them buy Starbucks NFTs on secondary with their PayPal stablecoins,” Petscher said. “This is huge for the world of crypto and it’s huge for NFTs. This is what building looks like.” Meanwhile, NFTs are seeing growing interest in the art space. U.K.-based NFT platform ElmonX announced Wednesday that it will partner with international image licensing company Bridgeman Images to mint “Salvator Mundi” — a painting attributed to Leonardo da Vinci — as NFT collectibles. The painting was sold for US$$450.3 million at the Christie’s auction house in 2017, making it the most expensive artwork ever sold. Leonardo da Vinci's masterpiece: Salvator Mundi 🔮 Rediscovered, restored, and auctioned for a record-breaking USD 450,312,500 in 2017, making it the world's most expensive artwork ever sold 📈 Two digital collectibles drop Saturday 12th August 9AM PT only on… pic.twitter.com/nAppalhFSC — ElmonX (@elmonx_official) August 8, 2023 Elsewhere, Chinese artist Yue Minjun on Tuesday launched Kingdom of the Laughing Man — a collection of unique NFTs based on his artworks — on NFT platform LiveArt. The collection has logged a 24-hour sales volume of over US$978,000 and sits third in Crypto Slam’s sales volume rankings, right behind Bored Ape Yacht Club. U.S. equities drop on bank downgrades, China records annual decline Image: Getty Images U.S. stock futures traded mixed as of 11:50 a.m. in Hong Kong. Dow Jones Industrial Average futures dipped, while the S&P 500 and Nasdaq futures moved higher. The U.S. stock market closed lower on Tuesday. In Asia, the main stock indexes were also mixed on Wednesday morning. China’s Shanghai Composite , Hong Kong’s Hang Seng and Japan’s Nikkei logged losses, while South Korea’s Kospi rose. On Tuesday, Moody’s Investor Service lowered the credit rating of 10 small and midsize U.S. banks citing funding risks and weaker profitability. The ratings agency warned that it could downgrade several other major U.S. lenders including U.S. Bancorp, Bank of New York Mellon Corp. and State Street Corp. “I think it’s a big deal in the bigger picture of how the economy operates, because regional banks’ lending is one of the main lubricants of the economy,” said Jason Pride, chief of investment strategy and research at asset manager Glenmede, in a Reuters report published Wednesday. “If it slows down, the engine just doesn’t work as well,” Pride added. All eyes are now on the release of U.S. consumer price index (CPI) data on Thursday. Bloomberg analysts expect the core CPI to rise 0.2% in July, which would be the smallest monthly increase in the past two and a half years. On the U.S. inflation front, the Federal Reserve meets on Sep. 19 to make its next move on interest rates. The rate now stands at between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at the CME FedWatch Tool predict a 86.5% chance there will be no interest rate hike in September, and a 13.5% chance the Fed will raise rates by a further 25-basis-points. Meanwhile in China, the country’s July CPI posted an annual decrease of 0.3%. The Producer Price Index (PPI) also dropped 4.4% year-on-year, Chinese state media Xinhua News Agency reported Wednesday. The dip in July CPI data represents China’s first annual decline since February 2021. However, the drop was smaller than the analysts’ expectation of 0.4%. “China is in deflation, for sure, the question is for how long.” Robin Xing, chief China economist for Morgan Stanley, told Bloomberg. “It’s up to the policy makers how they react.” (Updates with equities section.) View comments", 'Bitcoin rose on Wednesday morning in Asia to trade above US$29,700. Ether also logged gains along with all other top 10 non-stablecoin cryptocurrencies. Solana led the winners with an almost 5% jump. The crypto rally followed PayPal’s launch of a U.S. dollar-pegged stablecoin on Monday. That coincided with a sharp drop in global government bond yields Tuesday after the release of China’s weaker-than-expected economic data. Meanwhile, the Forkast 500 NFT index edged higher on increased trading volumes, while U.S. stock futures traded lower as ratings agency Moody’s downgraded several mid-size U.S. banks.\nBitcoin rose 2.02% in the last 24 hours to US$29,764.75 as of 07:50 a.m. in Hong Kong and moved up 0.41% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency briefly breached the US$30,000 resistance level on early Wednesday morning.\nEther gained 1.61% to US$1,855.88 but was still down 0.82% over the past seven days. All other top 10 non-stablecoin cryptocurrencies traded higher, with Solana’s SOL leading the winners. The token rose 4.93% to US$24.19 and logged a weekly gain of 1.07%.\nThe crypto market received a boost from global payment giant PayPal’s stablecoinlaunchon Monday. Known as PayPal USD (PYUSD), the stablecoin will allow users in the U.S. to make transfers to compatible external wallets, pay other customers and purchase foreign currencies using the token.\n“PayPal’s stablecoin launch is an important development for crypto within the U.S. Although the initial launch is limited, with PayPal’s size and global reach, it is likely to impact global stablecoin usage and adoption going forward,” said William Cai, co-founder and managing partner at U.S.-based asset management firm Wilshire Phoenix.\n“It is another clear signal of institutional confidence that crypto isn’t going away and will emerge from this ‘crypto winter’ stronger,” added Cai. “Stablecoin is the grease of the crypto markets. Overall increase in stablecoin market cap will coincide with a major upward trend in crypto prices.”\nGreta Yuan, head of research at Hong Kong-headquartered digital asset exchange VDX, said that while it is not the first time major institutions have entered the stablecoin space, previous attempts met with substantial regulatory obstacles.\n“The recent progress of a bill aimed at establishing a federal regulatory framework for stablecoins, coupled with PayPal’s deep expertise in the payment industry, has the potential to set up PayPal for a more promising growth path,” Yuan added\nMeanwhile, Ark Invest Chief Executive Officer Cathie Woodsaidin a Tuesday interview with Bloomberg that she expected the U.S. Securities and Exchange Commission (SEC) to approve multiple spot-Bitcoin exchange-traded funds (ETF) at the same time.\nThere is now a growing sense of optimism that successful ETF applications frommajor U.S. asset managersincluding BlackRock, Fidelity Investments and Wisdom Tree could be the start of large-scale institutional investment in the digital asset space.\nLater on Tuesday, Mike Novogratz, CEO of investment management firm Galaxy Capital, reportedlysaidvia conference call that the SEC’s approval of a Bitcoin ETF was likely a matter of “when, not if.” Issuers of Bitcoin ETF would, he said, “fight like cats and dogs to win market share” once they received approvals.\n“This could have caused the 3-4% rally in Bitcoin prices overnight,” said Markus Thielen, Head of Research & Strategy at digital asset service platform Matrixport.\n“A common pattern is emerging where Bitcoin prices tend to rally during US trading hours but retrace during Asian trading hours,” Thielen added. “Nevertheless, Bitcoin is still in a trading range but a potential SEC approval could push prices higher.”\nThe total crypto market capitalization gained 1.71% in the past 24 hours to US$1.18 trillion, while trading volume moved up 9.37% to US$36 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexinched up 0.14% in the past 24 hours to 2,483.18 as of 09:50 a.m. in Hong Kong, but was still down 0.90% for the week. Forkast’s Ethereum NFT index also logged gains, while the Solana, Polygon and Cardano indexes dropped.\nTotal NFT trading volume surged 64.03% in the past 24 hours to over US$20.4 million, according to data fromCryptoSlam. Volume on the Ethereum, Solana, Polygon, and Cardano blockchains all also logged increases, while the Bitcoin blockchain saw a drop.\n“Again we’re in the green and suddenly there’s a little pep in traders’ step,” said Yehudah Petscher, NFT strategist for Forkast Labs.\n“We’re really beginning to see the type of NFTs that do well in this market, which is cheaper NFTs with high volume. DMarket, Gods Unchained, Sorare and DraftKings all represent a form of gaming, all are pretty darn affordable, and all have thousands of traders. This is what the future of NFTs will really look like,” Petscher added.\nAmong NFT collections, Polygon-based DraftKings saw the largest 24-hour sales volume. It rose 26.23% to over US$4.12 million for 85% of total NFT trading volume on the Polygon network. The collection is based on sports and betting company DraftKings’ NFT games.\nForkast Labs’ Petscher said that Paypal’s stablecoin launch is providing a timely boost for the NFT industry. The global payment giant could prove successful in onboarding those unfamiliar with cryptocurrencies into the NFT space, he said Tuesday in avideouploaded to Youtube.\n“Give them some PayPal stablecoin and then watch OpenSea integrated, and then let them buy Starbucks NFTs on secondary with their PayPal stablecoins,” Petscher said. “This is huge for the world of crypto and it’s huge for NFTs. This is what building looks like.”\nMeanwhile, NFTs are seeing growing interest in the art space.\nU.K.-based NFT platform ElmonXannouncedWednesday that it will partner with international image licensing company Bridgeman Images to mint “Salvator Mundi” — a painting attributed to Leonardo da Vinci — as NFT collectibles. The painting was sold for US$$450.3 million at the Christie’s auction house in 2017, making it the most expensive artwork ever sold.\nElsewhere, Chinese artist Yue Minjun on Tuesday launchedKingdom of the Laughing Man— a collection of unique NFTs based on his artworks — on NFT platform LiveArt. The collection has logged a 24-hour sales volume of over US$978,000 and sits third in Crypto Slam’s sales volume rankings, right behind Bored Ape Yacht Club.\nU.S. stock futurestradedmixed as of 11:50 a.m. in Hong Kong. Dow Jones Industrial Average futures dipped, while the S&P 500 and Nasdaq futures moved higher. The U.S. stock market closed lower on Tuesday.\nIn Asia, the main stock indexes were also mixed on Wednesday morning. China’sShanghai Composite, Hong Kong’sHang Sengand Japan’sNikkeilogged losses, while South Korea’sKospirose.\nOn Tuesday, Moody’s Investor Serviceloweredthe credit rating of 10 small and midsize U.S. banks citing funding risks and weaker profitability. The ratings agency warned that it could downgrade several other major U.S. lenders including U.S. Bancorp, Bank of New York Mellon Corp. and State Street Corp.\n“I think it’s a big deal in the bigger picture of how the economy operates, because regional banks’ lending is one of the main lubricants of the economy,” said Jason Pride, chief of investment strategy and research at asset manager Glenmede, in a Reutersreportpublished Wednesday.\n“If it slows down, the engine just doesn’t work as well,” Pride added.\nAll eyes are now on the release of U.S. consumer price index (CPI) data on Thursday. Bloomberg analystsexpectthe core CPI to rise 0.2% in July, which would be the smallest monthly increase in the past two and a half years.\nOn the U.S. inflation front, the Federal Reserve meets on Sep. 19 to make its next move on interest rates.\nThe rate now stands at between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 86.5% chance there will be no interest rate hike in September, and a 13.5% chance the Fed will raise rates by a further 25-basis-points.\nMeanwhile in China, the country’s July CPI posted an annual decrease of 0.3%. The Producer Price Index (PPI) also dropped 4.4% year-on-year, Chinese state media Xinhua News AgencyreportedWednesday.\nThe dip in July CPI data represents China’s first annual decline since February 2021. However, the drop was smaller than the analysts’ expectation of 0.4%.\n“China is in deflation, for sure, the question is for how long.” Robin Xing, chief China economist for Morgan Stanley,toldBloomberg. “It’s up to the policy makers how they react.”\n(Updates with equities section.)', "Coinbase expects to get more revenue from decentralized applications or “dapps” that build atop Base than from the blockchain itself. Coinbase has participated in discussions among developers over future upgrades for the Ethereum blockchain. Coinbase aims to provide a “trusted interface, curated experiences” to people who previously have not spent a lot of time working with blockchains. Coinbase ($COIN), the big publicly traded U.S. crypto exchange, is preparing for the launch of its new Base blockchain on Wednesday, expected around noon ET (9 am Pacific time). The new network, technically a “ layer 2 ” blockchain built atop Ethereum, is expected to immediately vault into the top ranks of rival projects. Even prior to its official public debut, there was already $133 million of deposits locked into apps and protocols on the new Base network, according to the crypto analysis firm L2Beat . That amount of “total value locked” or TVL – a common metric for evaluating blockchains and protocols – is enough to rank Base as the fifth-biggest layer-2 blockchain. On Tuesday, CoinDesk had a zoom conversation with Jesse Pollak, creator of Base and head of protocols at Coinbase, about the new blockchain's strategy, revenue potential and regulatory considerations. A key point that Pollak emphasized: No publicly traded company has ever launched its own blockchain, so “there’s no playbook” for how to go about it. The following Q&A has been edited for clarity and brevity. CoinDesk: What does Coinbase get out of this initiative? Pollak: Coinbase was started in 2012, before Ethereum, before smart contracts. It was really just a place to buy and sell bitcoin. And then over the last decade, it's expanded, you know, adding more currencies, made it so you couldn’t just buy and sell, you could also save, you could stake, you borrow, you could lend. I think the kind of guiding North Star for Coinbase has been like, How do we enable people to safely and easily do things with crypto? That's it. And I think historically that the aperture of what people can do with crypto has been relatively limited, right? It's been mostly speculation, and mostly trading. And so that's where Coinbase has focused most of the energy. That said, if you look at the “ secret master plan ” that [CEO] Brian [Armstrong] wrote in 2016, I think the vision has been, you know, a billion people in the crypto economy using millions of dapps that make their lives better. Story continues And I think we kind of see the progression over the last decade as working through the first three phases of what we consider our master plan, which was like, build the protocols Bitcoin Ethereum, build the exchange so people get money into those protocols, build the consumer interface, and so people can start using those protocols. But we've kind of gotten stuck on phase four, like we don't have millions and billions. That's just not where we are as an industry. And so what's in it for Coinbase is we think we have to get there in order for Coinbase and crypto and this work that we're doing to have the impact that we all want. We need to move from the place where this is speculation to a place where this is integrated into every part of someone's day-to-day existence, and giving them a better platform to live their lives, across every part of the world that they interact with. And so we really see Base as the platform that's gonna enable that next wave of innovation. You know, it's low cost, it’s easy to use, it's built for developers, it's decentralized, it's connected into Ethereum, which is obviously like the largest kind of decentralized ecosystem in the world, from a crypto perspective, and it's Coinbase’s commitment, and it is our kind of investment in enabling that next wave of utility and innovation in crypto. And so when we think about Coinbase coming on-chain, really what we're saying is we're gonna see an incredible wave of blockchain innovation over the next five years, over the upcoming decade, where millions of incredibly useful products are going to be built. And some of those are going to be overlapping with existing products. Some of them are gonna be novel and new, and things that we create, and Coinbase is going to continue being the easiest, most trusted place for people to access those products. CoinDesk: And so the revenue opportunity, does that come from the chain or does that come from the apps? Pollak: We really think it comes from the apps. Base is an investment in innovation, not to earn a bunch of profits. I'd say Coinbase has always monetized by taking complex crypto things and then making them easy to do and charging a fee for that. And as the number of things that you can do with crypto increases, our bet is that that's going to be great for Coinbase, because the number of things that customers use Coinbase interfaces to access will increase, and there'll be an opportunity for us to monetize. CoinDesk: And so the revenue wouldn’t primarily come from running the sequencer of the blockchain? (Armstrong told Wall Street analysts last week that “Base will be monetized through what are called sequencer fees.”) Pollak: Generally, sequencer fees, we expect to not be the primary focus from a revenue perspective for the product. What we're really focused on is increasing utility, which increases the number of use cases that folks can do through Coinbase and increases the opportunity for Coinbase to provide easy-to-use, trusted experiences that we can monetize. We're not running the sequencer to make a bunch of profit. We're running the sequencer to enable innovation. And we're gonna be reinvesting that money in innovation. And we're going to be focusing monetization efforts where we've always monetized, which is the user experience. CoinDesk: You're the centralized, retail-focused company. How do you communicate to retail investors when it comes to these sorts of, you know, possibilities of rug pools and so on? Or what we saw with the BALD token on Base after you opened it to developers . Pollak: Historically, we've always done a good job communicating to folks about the risks and kind of like, where they should be focusing their attention, and providing kind of curated and trusted experiences for them. And that's not going to change. I think one thing that we've been clear about, kind of from the beginning, when we started creating Base, is that Base is going to be open and permissionless. It is an extension of Ethereum. It’s a layer 2 that scales Ethereum but preserves the open, permissionless nature of it. And what that means is that Base is, you know, it's crypto. Did I plan for that BALD stuff to happen the week before we were starting to open up Base? Absolutely not. But it was kind of a reminder for me that in crypto, you can make plans, but because these systems are open and permissionless, sometimes your plans change, and folks kind of bubble up in the way that, you know, crypto has always bubbled up over the last decade in ways that are unexpected. And so I think what we're really focused on is twofold. One is ensuring that Base remains open and permissionless so that we can have a decentralized and global on-chain economy because ultimately that's what we believe is like the single most important thing we can contribute to the world. And that decentralization and the open permissionless nature of Base is what enables that global economy. So that's the first thing and I think on the Coinbase side, what we're really focused on is continuing to provide that kind of easiest-to-use, most-trusted experience on top of Base. And so I think what you'll see is that for folks who are kind of more comfortable just getting in there and you know, living at the edge and doing their own research, they'll find ways to use Base. But for most people, they'll access Base through Coinbase, and Coinbase will continue providing a trusted interface, curated experiences. We have our ratings and reviews, which rates dapps, it rates tokens, it helps people understand what they are, what the risks are. We're going to continue having what I would consider, like almost first party products that build on top of protocols on Base. So for instance, you know, the DEX swap functionality and Coinbase wallet or in Coinbase Web3 tab, the borrow functionality, Coinbase wallet, where we really say hey, these protocols are trusted. We're going to expose them through dedicated user interfaces. And I think that role that Coinbase can play is going to be that kind of gateway, where we make sure that the things that are getting in front of everyday folks are safe and trusted, while still enabling banks to have that open, permissionless characteristic that enables all the creativity that we want to see in the world. CoinDesk: I wonder if you can say definitively there will never be a token on base, or is this something that you've talked about and are still talking about internally? Pollak: Yeah, we have no plans to have a token on base or token for base. I guess there's lots of tokens on Base, right? Ethereum is the native asset of base, there's USDC and there's all sorts of tokens that are deployed on Base and folks are building a whole rich economy on Base. We looked at the regulatory environment and we looked at the impact of having tokens and products. I think our general perspective is like, they're more confusing for finding product market fit than helpful. What we're really focused on is ensuring and building a developer platform that makes it really easy for developers to build dapps and in building a chain that makes it really easy for users to use them. That's it. And I think if you look at the last five years, there's a lot of noise that's basically been created by tokens, where the incentives for developers and the incentives for users have been perverted. And rather than saying, Hey, we're using this thing, because it's the best product, it's no, we're using the same because we got X million-dollar grant or we got paid Y dollars for every action. And so I think we kind of wanted to say, Hey, let's just not. CoinDesk: In terms of launching your own blockchain, did you have to check with your general counsel or regulatory lawyers to make sure you’d have zero risk from a regulatory standpoint? Pollak: We checked. Launching a decentralized open permissionless blockchain out of a public centralized company, no one's done that before. Like, there's no playbook. And we've applied all of the Coinbase rigor to doing this over the last year, which includes working with literally every single part of the company, from legal to compliance, to finance to privacy, to regulatory, to ensure that we're doing it to the Coinbase values, which is to be deliberate, to be thoughtful, to be measured, to be secure, to be trusted. And so at every turn, we have really gone above and beyond to make sure that we're doing this in the right way. CoinDesk: So there’s nothing from a regulatory standpoint, that would be like, Yeah, you're not allowed to launch a blockchain? Pollak: I think our feeling is that currently the regulatory environment in the many countries around the world is way more unclear than should be. And if you talk to entrepreneurs who are building on Base or building anywhere, what you'll hear is that they're spending more money on counsel and, you know, like defensive measures from a regulatory perspective than they are on hiring engineers, building products. And so we've been really consistent at Coinbase, that we think that needs to change. And we think that we need to bring clarity that can encourage and enable innovation and can protect consumers and make sure they're getting the best out of this incredible new technology.", 'Good morning. Here’s what’s happening:\nPrices:Regulatory clarity is required for bitcoin to push past $30,000.\nInsights:Where is the utility in Web3?\nBitcoin (BTC)is beginning the Asia trading day at $29,786, up 2% on-day, whileether (ETH)is trading at $1,855, up 1.3%.\nBitcoin’s volatility continues to be at a record low, Vivien Fang, head of trading products at Bybit, said in a note to CoinDesk, suggesting an eventual rebound.\n“Our attention is on catalysts toward year-end, potentially linked to ETF narratives or industry-transforming events,” she said. “The alignment between speculative strategies and these kinds of pivotal events could combine to form significant tailwinds for the crypto market.”\nThe 30k mark is a critical threshold, with consensus indicating 40k as the next significant level, Fang explained. However, there remains a high potential for a volatility surge due to macro-related downside events that could unexpectedly impact the market.\nDespite bitcoin’s low volatility, it’s still outperformed crypto hedge funds, according to a report from21e6 Capital.\n“It is plain to see that a simple buy-and-hold investment into bitcoin would have outperformed all of these fund baskets. Bitcoin added about 80% in value by the half of the year,” 21e6 Capital due diligence manager Jan Spörer and sales and marketing head Maximilian Bruckner wrote in the report. “In previous bull runs, crypto hedge funds were frequently able to significantly outperform the bitcoin benchmark.”\nData fromCryptoRank.ioshows that the price of bitcoin and the amount of money invested in crypto startups have historically been correlated, their analyst team wrote in a note to CoinDesk.\nIn 2022, both were on the decline. However, despite the significant growth of bitcoin in 2023, the monthly amount raised is low compared to 2021-2022.\nThe question continues to be: what will cause the next breakout? And what if it\'s not the long-awaited bitcoin ETF?\nCrypto Market Leaders and Laggards: The Biggest Movers of the Week:Stellar, XRP and Shiba Inu were notable winners from the last week, while Curve Finance and Augur struggled. The market is down overall, according to CoinDesk Market Index, but only marginally compared to recent growth.\nDesperately Seeking Crypto’s Killer App:When you take away the speculation, what Web3 services actually deliver utility for users? A veteran of the space wants to know.\nBitcoin Remains King While Crypto Hedge Funds Get Rekt:Even though crypto hedge funds managed positive returns during the first half of the year, bitcoin trounced them, according to a 21e6 Capital report.\n8:30 p.m. HKT/SGT August 10 (12:30 Aug 9 UTC): U.S. Core Inflation Rate YoY\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nPayPal\'s New Stablecoin Pitch; What Will It Take to Get Bitcoin to $30K?\nGlobal payments giant PayPal is launching PayPal USD, a U.S. dollar stablecoin fully backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents.\nFed Starts New Program to Oversee Crypto Activity in U.S. Banks:Fresh crypto guidance from the U.S. central bank doesn’t represent a departure from previous policy, but it provides more details on what the Fed expects from banks.\nBavaria\'s Data Regulator Had Not Concluded Assessment of Worldcoin When the Project Launched:The Sam Altman co-founded project has been shut down in Kenya over privacy concerns.\nCathie Wood and Mike Novogratz Are Both Bullish on Spot Bitcoin ETF Approvals:Wood expects the SEC to approve multiple funds all at once, and Novogratz says his sources say they see approvals coming in four to six months.', 'Good morning. Here’s what’s happening:\nPrices:Regulatory clarity is required for bitcoin to push past $30,000.\nInsights:Where is the utility in Web3?\nBitcoin (BTC)is beginning the Asia trading day at $29,786, up 2% on-day, whileether (ETH)is trading at $1,855, up 1.3%.\nBitcoin’s volatility continues to be at a record low, Vivien Fang, head of trading products at Bybit, said in a note to CoinDesk, suggesting an eventual rebound.\n“Our attention is on catalysts toward year-end, potentially linked to ETF narratives or industry-transforming events,” she said. “The alignment between speculative strategies and these kinds of pivotal events could combine to form significant tailwinds for the crypto market.”\nThe 30k mark is a critical threshold, with consensus indicating 40k as the next significant level, Fang explained. However, there remains a high potential for a volatility surge due to macro-related downside events that could unexpectedly impact the market.\nDespite bitcoin’s low volatility, it’s still outperformed crypto hedge funds, according to a report from21e6 Capital.\n“It is plain to see that a simple buy-and-hold investment into bitcoin would have outperformed all of these fund baskets. Bitcoin added about 80% in value by the half of the year,” 21e6 Capital due diligence manager Jan Spörer and sales and marketing head Maximilian Bruckner wrote in the report. “In previous bull runs, crypto hedge funds were frequently able to significantly outperform the bitcoin benchmark.”\nData fromCryptoRank.ioshows that the price of bitcoin and the amount of money invested in crypto startups have historically been correlated, their analyst team wrote in a note to CoinDesk.\nIn 2022, both were on the decline. However, despite the significant growth of bitcoin in 2023, the monthly amount raised is low compared to 2021-2022.\nThe question continues to be: what will cause the next breakout? And what if it\'s not the long-awaited bitcoin ETF?\nCrypto Market Leaders and Laggards: The Biggest Movers of the Week:Stellar, XRP and Shiba Inu were notable winners from the last week, while Curve Finance and Augur struggled. The market is down overall, according to CoinDesk Market Index, but only marginally compared to recent growth.\nDesperately Seeking Crypto’s Killer App:When you take away the speculation, what Web3 services actually deliver utility for users? A veteran of the space wants to know.\nBitcoin Remains King While Crypto Hedge Funds Get Rekt:Even though crypto hedge funds managed positive returns during the first half of the year, bitcoin trounced them, according to a 21e6 Capital report.\n8:30 p.m. HKT/SGT August 10 (12:30 Aug 9 UTC): U.S. Core Inflation Rate YoY\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nPayPal\'s New Stablecoin Pitch; What Will It Take to Get Bitcoin to $30K?\nGlobal payments giant PayPal is launching PayPal USD, a U.S. dollar stablecoin fully backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents.\nFed Starts New Program to Oversee Crypto Activity in U.S. Banks:Fresh crypto guidance from the U.S. central bank doesn’t represent a departure from previous policy, but it provides more details on what the Fed expects from banks.\nBavaria\'s Data Regulator Had Not Concluded Assessment of Worldcoin When the Project Launched:The Sam Altman co-founded project has been shut down in Kenya over privacy concerns.\nCathie Wood and Mike Novogratz Are Both Bullish on Spot Bitcoin ETF Approvals:Wood expects the SEC to approve multiple funds all at once, and Novogratz says his sources say they see approvals coming in four to six months.', 'Good morning. Here’s what’s happening: Prices: Regulatory clarity is required for bitcoin to push past $30,000. Insights: Where is the utility in Web3? Prices Bitcoin (BTC) is beginning the Asia trading day at $29,786, up 2% on-day, while ether (ETH) is trading at $1,855, up 1.3%. Bitcoin’s volatility continues to be at a record low, Vivien Fang, head of trading products at Bybit, said in a note to CoinDesk, suggesting an eventual rebound. “Our attention is on catalysts toward year-end, potentially linked to ETF narratives or industry-transforming events,” she said. “The alignment between speculative strategies and these kinds of pivotal events could combine to form significant tailwinds for the crypto market.” The 30k mark is a critical threshold, with consensus indicating 40k as the next significant level, Fang explained. However, there remains a high potential for a volatility surge due to macro-related downside events that could unexpectedly impact the market. Despite bitcoin’s low volatility, it’s still outperformed crypto hedge funds, according to a report from 21e6 Capital. “It is plain to see that a simple buy-and-hold investment into bitcoin would have outperformed all of these fund baskets. Bitcoin added about 80% in value by the half of the year,” 21e6 Capital due diligence manager Jan Spörer and sales and marketing head Maximilian Bruckner wrote in the report. “In previous bull runs, crypto hedge funds were frequently able to significantly outperform the bitcoin benchmark.” Data from CryptoRank.io shows that the price of bitcoin and the amount of money invested in crypto startups have historically been correlated, their analyst team wrote in a note to CoinDesk. (CryptoRank.io) In 2022, both were on the decline. However, despite the significant growth of bitcoin in 2023, the monthly amount raised is low compared to 2021-2022. The question continues to be: what will cause the next breakout? And what if it\'s not the long-awaited bitcoin ETF? Story continues Insights Crypto Market Leaders and Laggards: The Biggest Movers of the Week: Stellar, XRP and Shiba Inu were notable winners from the last week, while Curve Finance and Augur struggled. The market is down overall, according to CoinDesk Market Index, but only marginally compared to recent growth. Desperately Seeking Crypto’s Killer App : When you take away the speculation, what Web3 services actually deliver utility for users? A veteran of the space wants to know. Bitcoin Remains King While Crypto Hedge Funds Get Rekt: Even though crypto hedge funds managed positive returns during the first half of the year, bitcoin trounced them, according to a 21e6 Capital report. Important events 8:30 p.m. HKT/SGT August 10 (12:30 Aug 9 UTC): U.S. Core Inflation Rate YoY CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : PayPal\'s New Stablecoin Pitch; What Will It Take to Get Bitcoin to $30K? Global payments giant PayPal is launching PayPal USD, a U.S. dollar stablecoin fully backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents. Headlines Fed Starts New Program to Oversee Crypto Activity in U.S. Banks : Fresh crypto guidance from the U.S. central bank doesn’t represent a departure from previous policy, but it provides more details on what the Fed expects from banks. Bavaria\'s Data Regulator Had Not Concluded Assessment of Worldcoin When the Project Launched : The Sam Altman co-founded project has been shut down in Kenya over privacy concerns. Cathie Wood and Mike Novogratz Are Both Bullish on Spot Bitcoin ETF Approvals: Wood expects the SEC to approve multiple funds all at once, and Novogratz says his sources say they see approvals coming in four to six months.', 'ATLANTA, GA / ACCESSWIRE / August, 9, 2023 / BitMine Immersion Technologies, Inc. (OTC PI
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-09
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $582,168,434,400
- Hash Rate: 421650114.697692
- Transaction Count: 506746.0
- Unique Addresses: 735662.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: BRITISH VIRGIN ISLANDS, June 30, 2023 (GLOBE NEWSWIRE) -- Imagine holding a key that unlocks a treasure chest filled with valuable digital assets. This isn't a scene from a fantasy novel, but the exciting reality ofBTC Proxy'sNFT Keys. Born from a partnership between BTC Proxy, Blockchain.com, and Alphabit, these 10,000 unique digital collectibles were created in early 2022. Initially, they served as celebratory tokens for the minting of 125 BTCpx onto the Polygon Network.
Today, they've evolved into something more: keys to virtual vaults brimming with assets ready to be claimed.
BTC Proxy: Bridging Bitcoin and DeFi
BTC Proxy is a platform that brings together the world of Bitcoin and DeFi. It's a protocol that allows Bitcoin holders to use their Bitcoin in the Ethereum and Polygon ecosystems, expanding their opportunities in DeFi. BTC Proxy will put in 1 Bitcoin into the DeFi vault at the beginning of the mint which the holders will be rewarded with.
But BTC Proxy is more than just a bridge. It's a secure and efficient pathway for Bitcoin to interact with other blockchains. With features like Proxy Relay and Insured Custody, BTC Proxy ensures that Bitcoin can move safely and smoothly between different systems.
In essence, BTC Proxy is about providing options for Bitcoin holders. It allows you to explore the DeFi landscape while still holding onto your Bitcoin. It's about creating a flexible, secure environment where you can make the most of your digital assets.
BTC Proxy NFTs: Your Key to Digital Assets
BTC Proxy NFTs are not just digital collectibles. They are keys that unlock access to valuable digital assets.
In 2022, BTC Proxy created 10,000 NFTs to mark the minting of 125 BTCpx onto the Polygon Network. While some were given away for promotional purposes, most were kept by the protocol.
Now, these NFTs have a new role. They act as keys to virtual vaults that contain one or more digital assets. If you own an NFT key, you can claim these assets. This gives the NFTs a practical use, turning them from digital collectibles into keys that unlock digital assets.
The Journey of Acquiring NFT Keys and Their Balanced Token Model
Stepping into the world of NFT keys is as straightforward as investing 100 USDC. This investment is then converted into PRXY tokens at the current market rate on the Quickswap PRXY/USDC pool. This process not only influences the price of the PRXY token with each NFT Key purchase, but it also populates your newly acquired vault with PRXY tokens. Once you have your NFT Key in hand, you can stake it to claim the tokens in your vault at a predetermined rate.
What makes this journey even more interesting is the balanced token model of the NFT keys. The vault operates on the principle of balance. For every token that is released, nine PRXY tokens are locked up within the vault. This balance between locking and releasing tokens is designed to increase the price and decrease the circulating supply of PRXY tokens.
Multiple Rewards and Eligibility Considerations
The vault isn't just a one-token show. It has the capacity to house multiple tokens, and the set release rate can be applied to all tokens in the vault. This means you can reap a variety of rewards by staking a single NFT key. An additional token can even be used to provide extra rewards to those who stake early.
However, it's important to note that not all NFTs are eligible for this campaign from the start. To maintain the integrity of the rewards, NFT Series 9000+ will not be initially eligible. But don't worry, they may join the party once the campaign gains momentum.
This way, readers get a comprehensive understanding of the rewards system and eligibility considerations in one section.
Conclusion: Embrace the Future with BTC Proxy's NFT Keys
In the ever-evolving world of digital finance, BTC Proxy stands as a beacon of innovation. With its unique NFT keys, it offers a new way to interact with digital assets, providing a secure and efficient pathway to a wealth of opportunities. Whether you're a seasoned investor or a newcomer to the world of DeFi, BTC Proxy's NFT keys offer a chance to unlock a treasure trove of possibilities.
So why wait? Embark on your journey with BTC Proxy today. Explore the world of NFT keys, stake your claim, and unlock the future of digital finance. VisitBTC Proxyto learn more and start your adventure. The future is in your hands.
NFT Keys are currently priced at $100 and for a limited time only. At the time of writing the Rate of Return was 10.09% in PRXY and 1536% in BTC
CONTACT: Jim Hong BTC Proxy hello at btcproxy.io...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin dipped on Thursday morning in Asia after briefly breaching the US$30,000 resistance level. Ether also dipped, while other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA token led the winners. Meanwhile, the Forkast 500 NFT index moved higher. However, trading volume dropped after a surge earlier in the week. U.S. stock futures logged losses Wednesday but were trading higher on Thursday morning in Asia. Investors now await key U.S. inflation data with an eye on how that will affect the Fed’s decision making on interest rates. Bitcoin dips but set for bullish trend Bitcoin dropped 0.72% in the last 24 hours to US$29,592.49 as of 07:30 a.m. in Hong Kong, but rose 1.59% for the week, according to CoinMarketCap data. The world’s leading cryptocurrency reached a high of US$30,093.44 on Wednesday evening, but struggled to stay above the US$30,000 threshold. Although Bitcoin prices remain range bound, the token is set for a bullish trend, said Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com. “We witnessed the number of open interest positions (in Bitcoin) rise to the highest level since October of 2022 with more than 10.4 billion positions on August 8,” Hasn said. He added that a high number of open interests, which includes long and short positions, generally precedes a rise in momentum and increased volatility. “The increase in the number of open positions reflects more positive sentiment among investors with more recognition,” Hasn said, adding that the new offering of the PYUSD stablecoin from PayPal — one of the world’s largest payment companies — will increase access to cryptocurrency networks. Similarly, spot Bitcoin exchange traded fund applications from major investment firms like BlackRock and Wisdom Tree will, if approved by U.S. regulators, provide “more access by individual investors, institutional investors, and large companies that may not be able to invest in cryptocurrencies directly,” Hasn said. Story continues Along with Bitcoin, Ether dipped 0.21% to US$1,856.01 but held a weekly gain of 0.94%. Other top 10 non-stablecoin cryptocurrencies traded mixed, with Cardano’s ADA leading the winners, while Binance’s BNB, Tron’s TRX and Litecoin logged losses. Cardano’s ADA rose 1.03% to US$0.3016 for\xa0a weekly gain of 0.75% after the Cardano mainnet launched the Bitcoin token cBTC on Wednesday. The launch will allow Bitcoin holders to tokenize their Bitcoin on the Cardano network as cBTC and use it in Cardano’s decentralized finance (DeFi) applications. Bitcoin, meet Cardano. We’re excited to announce mainnet is now LIVE 👼 Mainnet below ⛅️👇 https://t.co/j6vHNUKIlL pic.twitter.com/Li81Pr8fpn — anetaBTC 👼 Mainnet Live (@anetaBTC) August 8, 2023 The total crypto market capitalization dipped 0.31% in the past 24 hours to US$1.18 trillion, while trading volume remained flat, inching down 1.11% to US$35.54 billion. The future is now for gaming NFTs The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index rose 0.71% in the past 24 hours to 2,493.11 as of 09:50 a.m. in Hong Kong, and notched a 0.10% gain for the week. Forkast’s Ethereum and Solana NFT indexes also logged gains, while the indexes for Polygon and Cardano dropped. Total NFT trading volume dropped 16.72% in the past 24 hours to over US$16.31 million, according to data from CryptoSlam . Volumes on the Ethereum, Bitcoin, Solana, Polygon, and Cardano blockchains all also logged losses. Among NFT collections, Polygon-based DraftKings saw the largest 24-hour sales volume, but fell 65.56% to US$1.43 million. Still, those sales accounted for over 50% of the total NFT trading volume on the Polygon network. The collection is based on sports and betting company DraftKings’ NFT games. “DraftKings did huge numbers, at one point reflecting over US$4.6 million on CryptoSlam’s collection rankings,” said Yehudah Petscher, NFT strategist for Forkast Labs. “These are being driven by fantasy football packs in the Reignmakers series. Packs range from US$20 to US$9,999, and some with supplies of over 50k packs. You can see how with brands like DraftKings and the National Football League (NFL), and prices like that, how they can rack up millions of dollars in sales in a day.” According to Petscher, winter in the market can be a blessing for NFTs used in play-to-earn games. “This bear market is sorta like the Great Reset for NFTs,” said Petscher in a Wednesday tweet . “Without it traders would still be conditioned for unrealistic gains. Now they’ll be happy for a few dollars here, maybe 20 bucks there, and then some home runs every so often. Expect to see more numbers like DraftKings, DMarket Gods Unchained and Sorare.” In CryptoSlams’ NFT collection ranking, DraftKings, Mythos Chain-based DMarket, Ethereum-based Bored Ape Yacht Club (BAYC), ImmutableX-based Gods Unchained and Ethereum-based Sorare took up the top 5 spots by seven-day sales volume. “Mythos Chain, Polygon, ImmutableX, and Ethereum are all represented in CryptoSlam’s Top Five Collections so far this week, and show the multi-chain future that’s not just ahead of us. It’s here,” tweeted Petscher on Thursday. Elsewhere, Canadian musician and producer Claire Elise Boucher, known professionally as Grimes, said in an interview with U.S. magazine Wired that she has earned more money from NFTs than from her music career. Boucher sold around US$6 million worth of NFTs in an auction in early 2021. “I’m sad about what happened to NFTs and crypto, because it got polluted fast with people trying to make as much money as possible,” said Boucher in the interview. “But I do want to think about compensating artists, especially digital artists. And I hope when the aggro niche dies down, we can come back,” she said. (Updates with NFT section.) U.S. equity futures up ahead of key inflation data Image: Envato Elements U.S. stock futures traded higher as of 11:10 a.m. in Hong Kong, after the stock market closed lower on Wednesday. In Asia, the main stock indexes were mixed on Wednesday morning. China’s Shanghai Composite , Hong Kong’s Hang Seng and South Korea’s Kospi logged losses, while Japan’s Nikkei moved up. Investors are now waiting for the U.S. consumer price index (CPI) in July, which is set for release on Thursday. Analysts expect the annual inflation rate to hit 3.3% in July, up from 3.0% in June, with the monthly rate remaining unchanged at 0.2%. However, an acceleration in the annual inflation rate would not necessarily equate to a reverse of the recent inflation slowdown. Talking to The Wall Street Journal, Laura Rosner, founding partner at advisory firm MacroPolicy Perspectives, pointed to this time last year when inflation peaked in June and then slowed down in the following month. A monthly inflation rate of 0.2% in June would be consistent with the moderate inflation that the Federal Reserve wants to see, Rosner said. Meanwhile, Philadelphia Federal Reserve President Patrick Harker said on Tuesday the Fed might be ready to pause interest rate hikes. “Absent any alarming new data between now and mid-September, I believe we may be at the point where we can be patient and hold rates steady and let the monetary policy actions we have taken do their work,” said Harker. The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at the CME FedWatch Tool predict a 87.0% chance there will be no interest rate hike in September, up from 86.5% on Wednesday. Elsewhere, U.S. President Joe Biden signed an executive order Wednesday to regulate U.S. investment in Chinese entities engaged in three sectors: semiconductors and microelectronics, quantum information technologies, and artificial intelligence. However, the sectors listed in the order were narrower than expected, which some analysts interpret as a sign that Biden’s administration is seeking to improve relations with China. “For the business community, this is relatively good news,” Sarah Bauerle Danzman, a senior fellow at the Atlantic Council and associate professor of international studies at Indiana University, told Bloomberg. “It’s a relatively narrow notification process and a very narrow set of prohibitions.” (Updates with equities section.)', 'Bitcoin dipped on Thursday morning in Asia after briefly breaching the US$30,000 resistance level. Ether also dipped, while other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA token led the winners. Meanwhile, the Forkast 500 NFT index moved higher. However, trading volume dropped after a surge earlier in the week. U.S. stock futures logged losses Wednesday but were trading higher on Thursday morning in Asia. Investors now await key U.S. inflation data with an eye on how that will affect the Fed’s decision making on interest rates.\nBitcoin dropped 0.72% in the last 24 hours to US$29,592.49 as of 07:30 a.m. in Hong Kong, but rose 1.59% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency reached a high of US$30,093.44 on Wednesday evening, but struggled to stay above the US$30,000 threshold.\nAlthough Bitcoin prices remain range bound, the token is set for a bullish trend, said Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com.\n“We witnessed the number of open interest positions (in Bitcoin) rise to the highest level since October of 2022 with more than 10.4 billion positions on August 8,” Hasn said.\nHe added that a high number of open interests, which includes long and short positions, generally precedes a rise in momentum and increased volatility.\n“The increase in the number of open positions reflects more positive sentiment among investors with more recognition,” Hasn said, adding that the new offering of thePYUSDstablecoin from PayPal — one of the world’s largest payment companies — will increase access to cryptocurrency networks.\nSimilarly, spot Bitcoin exchange traded fundapplicationsfrom major investment firms like BlackRock and Wisdom Tree will, if approved by U.S. regulators, provide “more access by individual investors, institutional investors, and large companies that may not be able to invest in cryptocurrencies directly,” Hasn said.\nAlong with Bitcoin, Ether dipped 0.21% to US$1,856.01 but held a weekly gain of 0.94%. Other top 10 non-stablecoin cryptocurrencies traded mixed, with Cardano’s ADA leading the winners, while Binance’s BNB, Tron’s TRX and Litecoin logged losses.\nCardano’s ADA rose 1.03% to US$0.3016 for\xa0a weekly gain of 0.75% after the Cardano mainnetlaunchedthe Bitcoin token cBTC on Wednesday. The launch will allow Bitcoin holders to tokenize their Bitcoin on the Cardano network as cBTC and use it in Cardano’s decentralized finance (DeFi) applications.\nThe total crypto market capitalization dipped 0.31% in the past 24 hours to US$1.18 trillion, while trading volume remained flat, inching down 1.11% to US$35.54 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexrose 0.71% in the past 24 hours to 2,493.11 as of 09:50 a.m. in Hong Kong, and notched a 0.10% gain for the week. Forkast’s Ethereum and Solana NFT indexes also logged gains, while the indexes for Polygon and Cardano dropped.\nTotal NFT trading volume dropped 16.72% in the past 24 hours to over US$16.31 million, according to data fromCryptoSlam. Volumes on the Ethereum, Bitcoin, Solana, Polygon, and Cardano blockchains all also logged losses.\nAmong NFT collections, Polygon-based DraftKings saw the largest 24-hour sales volume, but fell 65.56% to US$1.43 million. Still, those sales accounted for over 50% of the total NFT trading volume on the Polygon network. The collection is based on sports and betting company DraftKings’ NFT games.\n“DraftKings did huge numbers, at one point reflecting over US$4.6 million on CryptoSlam’s collection rankings,” said Yehudah Petscher, NFT strategist for Forkast Labs.\n“These are being driven by fantasy football packs in the Reignmakers series. Packs range from US$20 to US$9,999, and some with supplies of over 50k packs. You can see how with brands like DraftKings and the National Football League (NFL), and prices like that, how they can rack up millions of dollars in sales in a day.”\nAccording to Petscher, winter in the market can be a blessing for NFTs used in play-to-earn games.\n“This bear market is sorta like the Great Reset for NFTs,” said Petscher in a Wednesdaytweet. “Without it traders would still be conditioned for unrealistic gains. Now they’ll be happy for a few dollars here, maybe 20 bucks there, and then some home runs every so often. Expect to see more numbers like DraftKings, DMarket Gods Unchained and Sorare.”\nIn CryptoSlams’ NFT collection ranking, DraftKings, Mythos Chain-based DMarket, Ethereum-based Bored Ape Yacht Club (BAYC), ImmutableX-based Gods Unchained and Ethereum-based Sorare took up the top 5 spots by seven-day sales volume.\n“Mythos Chain, Polygon, ImmutableX, and Ethereum are all represented in CryptoSlam’s Top Five Collections so far this week, and show the multi-chain future that’s not just ahead of us. It’s here,”tweetedPetscher on Thursday.\nElsewhere, Canadian musician and producer Claire Elise Boucher, known professionally as Grimes,saidin an interview with U.S. magazine Wired that she has earned more money from NFTs than from her music career. Bouchersoldaround US$6 million worth of NFTs in an auction in early 2021.\n“I’m sad about what happened to NFTs and crypto, because it got polluted fast with people trying to make as much money as possible,” said Boucher in the interview.\n“But I do want to think about compensating artists, especially digital artists. And I hope when the aggro niche dies down, we can come back,” she said.\n(Updates with NFT section.)\nU.S. stock futures traded higher as of 11:10 a.m. in Hong Kong, after the stock market closed lower on Wednesday.\nIn Asia, the main stock indexes were mixed on Wednesday morning. China’sShanghai Composite, Hong Kong’sHang Sengand South Korea’sKospilogged losses, while Japan’sNikkeimoved up.\nInvestors are now waiting for the U.S. consumer price index (CPI) in July, which is set for release on Thursday. Analystsexpectthe annual inflation rate to hit 3.3% in July, up from 3.0% in June, with the monthly rate remaining unchanged at 0.2%.\nHowever, an acceleration in the annual inflation rate would not necessarily equate to a reverse of the recent inflation slowdown.\nTalking to The Wall Street Journal, Laura Rosner, founding partner at advisory firm MacroPolicy Perspectives, pointed to this time last year when inflation peaked in June and then slowed down in the following month.\nA monthly inflation rate of 0.2% in June would be consistent with the moderate inflation that the Federal Reserve wants to see, Rosner said.\nMeanwhile, Philadelphia Federal Reserve President Patrick Harkersaidon Tuesday the Fed might be ready to pause interest rate hikes.\n“Absent any alarming new data between now and mid-September, I believe we may be at the point where we can be patient and hold rates steady and let the monetary policy actions we have taken do their work,” said Harker.\nThe Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 87.0% chance there will be no interest rate hike in September, up from 86.5% on Wednesday.\nElsewhere, U.S. President Joe Bidensignedan executive order Wednesday to regulate U.S. investment in Chinese entities engaged in three sectors: semiconductors and microelectronics, quantum information technologies, and artificial intelligence.\nHowever, the sectors listed in the order were narrower than expected, which some analysts interpret as a sign that Biden’s administration is seeking to improve relations with China.\n“For the business community, this is relatively good news,” Sarah Bauerle Danzman, a senior fellow at the Atlantic Council and associate professor of international studies at Indiana University,toldBloomberg. “It’s a relatively narrow notification process and a very narrow set of prohibitions.”\n(Updates with equities section.)', 'Bitcoin dipped on Thursday morning in Asia after briefly breaching the US$30,000 resistance level. Ether also dipped, while other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA token led the winners. Meanwhile, the Forkast 500 NFT index moved higher. However, trading volume dropped after a surge earlier in the week. U.S. stock futures logged losses Wednesday but were trading higher on Thursday morning in Asia. Investors now await key U.S. inflation data with an eye on how that will affect the Fed’s decision making on interest rates.\nBitcoin dropped 0.72% in the last 24 hours to US$29,592.49 as of 07:30 a.m. in Hong Kong, but rose 1.59% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency reached a high of US$30,093.44 on Wednesday evening, but struggled to stay above the US$30,000 threshold.\nAlthough Bitcoin prices remain range bound, the token is set for a bullish trend, said Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com.\n“We witnessed the number of open interest positions (in Bitcoin) rise to the highest level since October of 2022 with more than 10.4 billion positions on August 8,” Hasn said.\nHe added that a high number of open interests, which includes long and short positions, generally precedes a rise in momentum and increased volatility.\n“The increase in the number of open positions reflects more positive sentiment among investors with more recognition,” Hasn said, adding that the new offering of thePYUSDstablecoin from PayPal — one of the world’s largest payment companies — will increase access to cryptocurrency networks.\nSimilarly, spot Bitcoin exchange traded fundapplicationsfrom major investment firms like BlackRock and Wisdom Tree will, if approved by U.S. regulators, provide “more access by individual investors, institutional investors, and large companies that may not be able to invest in cryptocurrencies directly,” Hasn said.\nAlong with Bitcoin, Ether dipped 0.21% to US$1,856.01 but held a weekly gain of 0.94%. Other top 10 non-stablecoin cryptocurrencies traded mixed, with Cardano’s ADA leading the winners, while Binance’s BNB, Tron’s TRX and Litecoin logged losses.\nCardano’s ADA rose 1.03% to US$0.3016 for\xa0a weekly gain of 0.75% after the Cardano mainnetlaunchedthe Bitcoin token cBTC on Wednesday. The launch will allow Bitcoin holders to tokenize their Bitcoin on the Cardano network as cBTC and use it in Cardano’s decentralized finance (DeFi) applications.\nThe total crypto market capitalization dipped 0.31% in the past 24 hours to US$1.18 trillion, while trading volume remained flat, inching down 1.11% to US$35.54 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexrose 0.71% in the past 24 hours to 2,493.11 as of 09:50 a.m. in Hong Kong, and notched a 0.10% gain for the week. Forkast’s Ethereum and Solana NFT indexes also logged gains, while the indexes for Polygon and Cardano dropped.\nTotal NFT trading volume dropped 16.72% in the past 24 hours to over US$16.31 million, according to data fromCryptoSlam. Volumes on the Ethereum, Bitcoin, Solana, Polygon, and Cardano blockchains all also logged losses.\nAmong NFT collections, Polygon-based DraftKings saw the largest 24-hour sales volume, but fell 65.56% to US$1.43 million. Still, those sales accounted for over 50% of the total NFT trading volume on the Polygon network. The collection is based on sports and betting company DraftKings’ NFT games.\n“DraftKings did huge numbers, at one point reflecting over US$4.6 million on CryptoSlam’s collection rankings,” said Yehudah Petscher, NFT strategist for Forkast Labs.\n“These are being driven by fantasy football packs in the Reignmakers series. Packs range from US$20 to US$9,999, and some with supplies of over 50k packs. You can see how with brands like DraftKings and the National Football League (NFL), and prices like that, how they can rack up millions of dollars in sales in a day.”\nAccording to Petscher, winter in the market can be a blessing for NFTs used in play-to-earn games.\n“This bear market is sorta like the Great Reset for NFTs,” said Petscher in a Wednesdaytweet. “Without it traders would still be conditioned for unrealistic gains. Now they’ll be happy for a few dollars here, maybe 20 bucks there, and then some home runs every so often. Expect to see more numbers like DraftKings, DMarket Gods Unchained and Sorare.”\nIn CryptoSlams’ NFT collection ranking, DraftKings, Mythos Chain-based DMarket, Ethereum-based Bored Ape Yacht Club (BAYC), ImmutableX-based Gods Unchained and Ethereum-based Sorare took up the top 5 spots by seven-day sales volume.\n“Mythos Chain, Polygon, ImmutableX, and Ethereum are all represented in CryptoSlam’s Top Five Collections so far this week, and show the multi-chain future that’s not just ahead of us. It’s here,”tweetedPetscher on Thursday.\nElsewhere, Canadian musician and producer Claire Elise Boucher, known professionally as Grimes,saidin an interview with U.S. magazine Wired that she has earned more money from NFTs than from her music career. Bouchersoldaround US$6 million worth of NFTs in an auction in early 2021.\n“I’m sad about what happened to NFTs and crypto, because it got polluted fast with people trying to make as much money as possible,” said Boucher in the interview.\n“But I do want to think about compensating artists, especially digital artists. And I hope when the aggro niche dies down, we can come back,” she said.\n(Updates with NFT section.)\nU.S. stock futures traded higher as of 11:10 a.m. in Hong Kong, after the stock market closed lower on Wednesday.\nIn Asia, the main stock indexes were mixed on Wednesday morning. China’sShanghai Composite, Hong Kong’sHang Sengand South Korea’sKospilogged losses, while Japan’sNikkeimoved up.\nInvestors are now waiting for the U.S. consumer price index (CPI) in July, which is set for release on Thursday. Analystsexpectthe annual inflation rate to hit 3.3% in July, up from 3.0% in June, with the monthly rate remaining unchanged at 0.2%.\nHowever, an acceleration in the annual inflation rate would not necessarily equate to a reverse of the recent inflation slowdown.\nTalking to The Wall Street Journal, Laura Rosner, founding partner at advisory firm MacroPolicy Perspectives, pointed to this time last year when inflation peaked in June and then slowed down in the following month.\nA monthly inflation rate of 0.2% in June would be consistent with the moderate inflation that the Federal Reserve wants to see, Rosner said.\nMeanwhile, Philadelphia Federal Reserve President Patrick Harkersaidon Tuesday the Fed might be ready to pause interest rate hikes.\n“Absent any alarming new data between now and mid-September, I believe we may be at the point where we can be patient and hold rates steady and let the monetary policy actions we have taken do their work,” said Harker.\nThe Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 87.0% chance there will be no interest rate hike in September, up from 86.5% on Wednesday.\nElsewhere, U.S. President Joe Bidensignedan executive order Wednesday to regulate U.S. investment in Chinese entities engaged in three sectors: semiconductors and microelectronics, quantum information technologies, and artificial intelligence.\nHowever, the sectors listed in the order were narrower than expected, which some analysts interpret as a sign that Biden’s administration is seeking to improve relations with China.\n“For the business community, this is relatively good news,” Sarah Bauerle Danzman, a senior fellow at the Atlantic Council and associate professor of international studies at Indiana University,toldBloomberg. “It’s a relatively narrow notification process and a very narrow set of prohibitions.”\n(Updates with equities section.)', 'Good morning. Here’s what’s happening: Prices: The market seems confident that the SEC\'s move to appeal the favorable Ripple ruling isn\'t going to lead to much. Insights: Curve exploit fiasco revealed the susceptibility in the DeFi space, and what is a Bart pattern? Prices CoinDesk Market Index (CMI) 1,233 −4.7 ▼ 0.4% Bitcoin (BTC) $29,581 −224.2 ▼ 0.8% Ethereum (ETH) $1,854 −2.4 ▼ 0.1% S&P 500 4,467.71 −31.7 ▼ 0.7% Gold $1,948 +24.2 ▲ 1.3% Nikkei 225 32,204.33 −173.0 ▼ 0.5% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) CoinDesk Market Index (CMI) 1,233 −4.7 ▼ 0.4% Bitcoin (BTC) $29,581 −224.2 ▼ 0.8% Ethereum (ETH) $1,854 −2.4 ▼ 0.1% S&P 500 4,467.71 −31.7 ▼ 0.7% Gold $1,948 +24.2 ▲ 1.3% Nikkei 225 32,204.33 −173.0 ▼ 0.5% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Both Bitcoin (BTC) and Ether (ETH) are trading flat in Asia as the region begins its business day. The world\'s largest digital asset is trading at $29,581, down 0.8%, while ether is trading at $1,854, down 0.1%. Overall, the crypto market seems to have shrugged off news from the Securities and Exchange Commission (SEC) that it intends to file an appeal of the ruling in its case against Ripple, which ended in a partial victory for Ripple in July. Last month , U.S. District Court of the Southern District of New York ruled that Ripple\'s XRP token sales did not constitute investment contracts, though institutional sales violated federal securities laws. The ruling led to a rally in XRP, Solana\'s SOL token, and other tokens that were alleged to be securities , but legal experts believe it does not fully settle the definition of a digital asset as a security under U.S. law. Now, the SEC is seeking to appeal part of a recent decision that ruled Ripple\'s programmatic sales and other distributions of XRP did not involve the offer of or sale of securities under the Howey test, while a federal judge previously determined that Ripple\'s direct sales to institutional investors violated securities law. Story continues SOL is flat on the news as is Cardano (ADA) and NEAR is down 1%. It should also be noted that the market is in a relentless period of HODLing at the moment with exchange balances at close to record lows, and the amount of bitcoin and ether that haven\'t moved in 7-10 years at a record high, meaning that it\'ll take a lot to move the market – more than the news that the SEC is filing an appeal of a case that it might not win . Biggest Gainers Asset Ticker Returns DACS Sector Chainlink LINK +2.7% Computing Cardano ADA +1.1% Smart Contract Platform Dogecoin DOGE +0.4% Currency Biggest Losers Asset Ticker Returns DACS Sector Loopring LRC −1.5% Smart Contract Platform Gala GALA −1.1% Entertainment Decentraland MANA −1.1% Entertainment Insights As Curve Averts DeFi Death Spiral, Fiasco Exposes Serious Risks : The worst-case consequences of last month’s Curve exchange hack seem to have been avoided, thanks to a series of side deals cut between the project’s debt-strapped founder and a handful of key crypto players. But the events still served as an indictment of the prevailing decentralized finance , or DeFi, narrative since last year’s collapse of Sam Bankman-Fried’s FTX crypto exchange — that centralized platforms are susceptible to greed and poor risk management while decentralized platforms keep chugging along. It turns out that DeFi is susceptible too. What Is Bitcoin\'s \'Bart\' Pattern and Does It Mean BTC Is Heading Towards a Rally: Squint at the latest price charts and you can see a popular cartoon character from The Simpsons – and portents of a brighter future for crypto. Important events. 9:00 a.m. HKT/SGT(1:00 UTC) Australia Consumer Inflation Expectations (Aug) 4:00 p.m. HKT/SGT(8:00 UTC) Italy Consumer Price Index (YoY/July) 8:30 p.m. HKT/SGT(12:30 UTC) United States Consumer Price (MoM/July) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : PayPal\'s Stablecoin Grabs Attention From Lawmakers; Music Icon Enters the Metaverse PayPal\'s move to issue a stablecoin is putting crypto legislation back in focus in Washington, D.C. Timothy Massad, former CFTC chairman and current director of the Digital Assets Policy Project at the Harvard Kennedy School, joined the conversation. Tastycrypto head Ryan Grace shared his crypto markets outlook. And, The Sandbox co-founder and COO Sebastien Borget discussed the virtual world\'s latest collaboration. Headlines Coinbase Officially Launches Base Blockchain in Milestone for a Public Company : The largest U.S. crypto exchange says its blockchain is the first to be launched by a publicly traded company and gives it a new revenue opportunity. Microsoft, Aptos Labs Team Up on New Blockchain AI Tools : The price of Aptos\' token is surging on news of the collaboration. Rollbit\'s RLB Token Rockets 60% as Crypto Casino Bets on Daily Token Burn : Rollbit\'s revenue crossed over $2 million in the past 24 hours across various services, data shows. This means a significant amount – after costs – will use to fund RLB purchases daily. Stablecoin Market to Soar to Almost $3T in Next 5 Years, Bernstein Says : That\'s up from $125 million now as use should grow with more co-branded partnerships, a report from the firm said. Russia to Test Digital Ruble With Banks, Clients : The country\'s central bank will begin real-world tests of the digital currency with 13 banks and limited clients on Aug. 15.', 'Good morning. Here’s what’s happening:\nPrices:The market seems confident that the SEC\'s move to appeal the favorable Ripple ruling isn\'t going to lead to much.\nInsights:Curve exploit fiasco revealed the susceptibility in the DeFi space, and what is a Bart pattern?\nCoinDesk Market Index (CMI)\n1,233\n−4.7▼0.4%\nBitcoin (BTC)\n$29,581\n−224.2▼0.8%\nEthereum (ETH)\n$1,854\n−2.4▼0.1%\nS&P 500\n4,467.71\n−31.7▼0.7%\nGold\n$1,948\n+24.2▲1.3%\nNikkei 225\n32,204.33\n−173.0▼0.5%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,233", "\\u22124.7\\u25bc0.4%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,581", "\\u2212224.2\\u25bc0.8%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,854", "\\u22122.4\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,467.71", "\\u221231.7\\u25bc0.7%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,948", "+24.2\\u25b21.3%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,204.33", "\\u2212173.0\\u25bc0.5%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBothBitcoin (BTC)andEther (ETH)are trading flat in Asia as the region begins its business day.\nThe world\'s largest digital asset is trading at $29,581, down 0.8%, while ether is trading at $1,854, down 0.1%.\nOverall, the crypto market seems to have shrugged off news from the Securities and Exchange Commission (SEC) that it intends tofile an appealof the ruling in its case against Ripple, which ended in apartial victory for Ripplein July.\nLast month, U.S. District Court of the Southern District of New York ruled that Ripple\'s XRP token sales did not constitute investment contracts, though institutional sales violated federal securities laws. The ruling led to a rally in XRP, Solana\'s SOL token, andother tokens that were alleged to be securities, but legal experts believe it does not fully settle the definition of a digital asset as a security under U.S. law.\nNow, the SEC is seeking to appeal part of a recent decision that ruled Ripple\'s programmatic sales and other distributions of XRP did not involve the offer of or sale of securities under the Howey test, while a federal judge previously determined that Ripple\'s direct sales to institutional investors violated securities law.\nSOLis flat on the news as isCardano(ADA) andNEARis down 1%.\nIt should also be noted that the market is in arelentless period of HODLingat the moment with exchange balances at close to record lows, and the amount of bitcoin and ether that haven\'t moved in 7-10 years at a record high, meaning that it\'ll take a lot to move the market – more than the news that the SEC is filing an appeal of a casethat it might not win.\n[{"Asset": "Chainlink", "Ticker": "LINK", "Returns": "+2.7%", "DACS Sector": "Computing"}, {"Asset": "Cardano", "Ticker": "ADA", "Returns": "+1.1%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "+0.4%", "DACS Sector": "Currency"}]\n[{"Asset": "Loopring", "Ticker": "LRC", "Returns": "\\u22121.5%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Gala", "Ticker": "GALA", "Returns": "\\u22121.1%", "DACS Sector": "Entertainment"}, {"Asset": "Decentraland", "Ticker": "MANA", "Returns": "\\u22121.1%", "DACS Sector": "Entertainment"}]\nAs Curve Averts DeFi Death Spiral, Fiasco Exposes Serious Risks:The worst-case consequences of last month’sCurve exchange hackseem to have been avoided, thanks to a series of side deals cut between the project’s debt-strapped founder and a handful of key crypto players. But the events still served as an indictment of the prevailingdecentralized finance, or DeFi, narrative since last year’s collapse of Sam Bankman-Fried’s FTX crypto exchange — that centralized platforms are susceptible to greed and poor risk management while decentralized platforms keep chugging along. It turns out that DeFi is susceptible too.\nWhat Is Bitcoin\'s \'Bart\' Pattern and Does It Mean BTC Is Heading Towards a Rally:Squint at the latest price charts and you can see a popular cartoon character from The Simpsons – and portents of a brighter future for crypto.\n9:00 a.m. HKT/SGT(1:00 UTC)Australia Consumer Inflation Expectations (Aug)\n4:00 p.m. HKT/SGT(8:00 UTC)Italy Consumer Price Index (YoY/July)\n8:30 p.m. HKT/SGT(12:30 UTC)United States Consumer Price (MoM/July)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nPayPal\'s Stablecoin Grabs Attention From Lawmakers; Music Icon Enters the Metaverse\nPayPal\'s move to issue a stablecoin is putting crypto legislation back in focus in Washington, D.C. Timothy Massad, former CFTC chairman and current director of the Digital Assets Policy Project at the Harvard Kennedy School, joined the conversation. Tastycrypto head Ryan Grace shared his crypto markets outlook. And, The Sandbox co-founder and COO Sebastien Borget discussed the virtual world\'s latest collaboration.\nCoinbase Officially Launches Base Blockchain in Milestone for a Public Company:The largest U.S. crypto exchange says its blockchain is the first to be launched by a publicly traded company and gives it a new revenue opportunity.\nMicrosoft, Aptos Labs Team Up on New Blockchain AI Tools:The price of Aptos\' token is surging on news of the collaboration.\nRollbit\'s RLB Token Rockets 60% as Crypto Casino Bets on Daily Token Burn:Rollbit\'s revenue crossed over $2 million in the past 24 hours across various services, data shows. This means a significant amount – after costs – will use to fund RLB purchases daily.\nStablecoin Market to Soar to Almost $3T in Next 5 Years, Bernstein Says:That\'s up from $125 million now as use should grow with more co-branded partnerships, a report from the firm said.\nRussia to Test Digital Ruble With Banks, Clients:The country\'s central bank will begin real-world tests of the digital currency with 13 banks and limited clients on Aug. 15.', "A trader looks on while waiting for the initial price of Tencent Music Entertainment company's IPO on the floor of the New York Stock Exchange (NYSE) in New York Thomson Reuters US stocks traded mixed on Wednesday as investors awaited the July CPI report. Markets are hoping cooler inflation will push the Fed to end its rate hike campaign. August has been a tough month so far for stocks, with the summer rally losing steam. US stocks fell Wednesday as investors waited for key inflation data to roll out Thursday morning. Major indexes ended in the red, continuing this week's sell-off and struggling to recover as August proves tough for investors coming off a hot streak earlier this summer. Economists polled by Dow Jones expect inflation to accelerate 3.3% annually in July, while Cleveland Fed economists expect inflation to accelerate 3.4% year-over-year. Both estimates are slightly higher than the inflation figures reported in June, when prices rose 3%. Investors are hoping that cooler inflation data could influence the Federal Reserve to end its rate hike campaign, which would likely be a boon for stocks. Central bankers will also be considering August inflation and jobs data when making their policy decisions next month, but markets already have priced in an 87% chance rates will be held steady at the September FOMC meeting, according to the CME FedWatch tool . In the meantime, investors have their eye on The Walt Disney Company, which is set to report earnings after the closing bell. Shares of the entertainment giant have slid 18% over the past year as it struggles to grow earnings amid an uncertain macro environment. Here's where US indexes stood at the 4 p.m. ET close on Wednesday: S&P 500 : 4,467.84, down 0.7% Dow Jones Industrial Average : 35,123.95, down 0.54% (190.54 points) Nasdaq Composite : 13,722.02, down 1.17% Here's what else happened today: Expect a big rally in the stock market after this week's inflation report, Fundstrat said. The freight recession is getting worse as the economy detoxes from the pandemic trucking boom. The restart of student loan payments isn't going to drag down the US economy, Ned Davis Research said. Food inflation has mostly been caused by Russia , according to top economist Paul Krugman. It's about to get harder for US firms to invest in Chinese markets , thanks to a new executive order from President Biden. Big banks are shedding commercial real estate loans as pressure mounts in the sector. Natural gas prices are soaring as energy workers in Australia look poised to strike. Story continues In commodities, bonds and crypto: West Texas Intermediate crude oil rose 1.52% to $84.20 per barrel. Brent crude , oil's international benchmark, was up 1.4% to $87.41. Gold dropped 0.52% to $1,949.80 per ounce. The yield on the 10-year Treasury slipped two basis points to 4.004%. Bitcoin fell 1.6% to $29,402. Read the original article on Business Insider", "• US stocks traded mixed on Wednesday as investors awaited the July CPI report.\n• Markets are hoping cooler inflation will push the Fed to end its rate hike campaign.\n• August has been a tough month so far for stocks, with the summer rally losing steam.\nUS stocks fell Wednesday as investors waited for key inflation data to roll out Thursday morning.\nMajor indexes ended in the red, continuing this week's sell-off and struggling to recover as August proves tough for investors coming off a hot streak earlier this summer.\nEconomists polled by Dow Jones expect inflation to accelerate 3.3% annually in July, whileCleveland Fed economistsexpect inflation to accelerate 3.4% year-over-year. Both estimates are slightly higher than the inflation figures reported in June, when prices rose 3%.\nInvestors are hoping that cooler inflation data could influence the Federal Reserve to end its rate hike campaign, which would likely be a boon for stocks. Central bankers will also be considering August inflation and jobs data when making their policy decisions next month, but markets already have priced in an 87% chance rates will be held steady at the September FOMC meeting, according to theCME FedWatch tool.\nIn the meantime, investors have their eye on The Walt Disney Company, which is set to report earnings after the closing bell. Shares of the entertainment giant have slid 18% over the past year as it struggles to grow earnings amid an uncertain macro environment.\nHere's where US indexes stood at the 4 p.m. ET close on Wednesday:\n• S&P 500:4,467.84, down 0.7%\n• Dow Jones Industrial Average:35,123.95, down 0.54% (190.54 points)\n• Nasdaq Composite:13,722.02, down 1.17%\nHere's what else happened today:\n• Expect a big rally in the stock marketafter this week's inflation report, Fundstrat said.\n• The freight recession is getting worseas the economy detoxes from the pandemic trucking boom.\n• The restart of student loan paymentsisn't going to drag down the US economy, Ned Davis Research said.\n• Food inflation has mostly been caused by Russia, according to top economist Paul Krugman.\n• It's about to get harder for US firms to invest in Chinese markets, thanks to a new executive order from President Biden.\n• Big banks are shedding commercial real estateloans as pressure mounts in the sector.\n• Natural gas prices are soaringas energy workers in Australia look poised to strike.\nIn commodities, bonds and crypto:\n• West Texas Intermediate crudeoil rose 1.52% to $84.20 per barrel.Brent crude, oil's international benchmark, was up 1.4% to $87.41.\n• Golddropped 0.52% to $1,949.80 per ounce.\n• The yield on the 10-year Treasury slipped two basis points to 4.004%.\n• Bitcoin fell 1.6% to $29,402.\nRead the original article onBusiness Insider", "Cryptocurrency markets are showing signs of recovery with Bitcoin and Ether rallying 4% over the past two days. Sentiment around Ethereum has been buoyed by a few recent developments. Multiple asset management firms have applied to launch Ether-based exchange-traded funds (ETFs). Additionally, PayPal, the global payments giant with over 400M users, launched its dollar-backed stablecoin , PYUSD, on the Ethereum mainnet. Meanwhile, investors overwhelmingly expect the Federal Reserve to keep rates unchanged at its upcoming meeting in September. Some even predict a 25bps interest rate cut as early as the December meeting. Markets Rally As Investors Show Renewed Confidence in Crypto BNT Rallies 55% Bancor Network's BNT has surged 55% in the past week after releasing the primer for its new on-chain trading strategies protocol, Carbon . Coin98's C98 jumped 30% following a significant investment from venture capital firm DWF Labs. DODO rallied 28% after unveiling DODO X , a cross-chain aggregation service. Markets Rally As Investors Show Renewed Confidence in Crypto Frax Finance’s governance token, FXS, rallied 10% after the founder’s proposal to bring Real World Assets (RWAs) to the network. Solana, Toncoin, and Algorand have also posted gains in the past seven days, spurred by last month's court ruling that XRP is not a security . Kyber Network, Nest Protocol, and Bounce were the DeFi tokens that lost the most value in the past 7 days, dropping 30% , 24% , and 18% , respectively. Rocket Pool, a leading liquid staking protocol, saw its RPL token dip by 12% in the past week. RPL hit an all-time high of $62 on April 26 and has dropped 58% since. Compound's COMP dropped 10% with investors likely booking profits after a stellar run for the token. Former CEO Robert Leshner stepped down to form a new company. Read the original post on The Defiant View comments", "Cryptocurrency markets are showing signs of recovery with Bitcoin and Ether rallying 4% over the past two days.\nSentiment around Ethereum has been buoyed by a few recent developments. Multiple asset management firms haveapplied to launchEther-based exchange-traded funds (ETFs). Additionally, PayPal, the global payments giant with over 400M users,launched its dollar-backed stablecoin, PYUSD, on the Ethereum mainnet.\nMeanwhile, investorsoverwhelminglyexpect the Federal Reserve to keep rates unchanged at its upcoming meeting in September. Some even predict a 25bps interest rate cut as early as the December meeting.\nBancor Network's BNT has surged 55% in the past week after releasing the primer for its new on-chain trading strategies protocol,Carbon. Coin98's C98 jumped 30% following asignificant investmentfrom venture capital firm DWF Labs. DODO rallied 28% after unveilingDODO X, a cross-chain aggregation service.\nFrax Finance’s governance token, FXS, rallied 10% after thefounder’s proposalto bring Real World Assets (RWAs) to the network.\nSolana, Toncoin, and Algorand have also posted gains in the past seven days, spurred by last month's court ruling that XRP isnot a security.\nKyber Network, Nest Protocol, and Bounce were the DeFi tokens that lost the most value in the past 7 days, dropping30%,24%, and18%, respectively.\nRocket Pool, a leading liquid staking protocol, saw its RPL token dip by12%in the past week. RPL hit an all-time high of $62 on April 26 and has dropped 58% since.\nCompound's COMP dropped10%with investors likely booking profits after a stellar run for the token. Former CEO Robert Leshnerstepped downto form a new company.\nRead the original post on The Defiant", "Chicago, IL – August 10, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. NVDA, Robinhood Markets Inc. HOOD, Shopify Inc. SHOP, Coinbase Global Inc. COIN and Hut 8 Mining Corp. HUT.\nOn Aug 8, cryptocurrencies surged following Moody’s Investors Service’s decision to downgrade the credit ratings of 10 small and mid-sized U.S. banks by a single notch. Moreover, the rating agency put six big banks under review for a potential downgrade. Moody’s also changed its rating outlook to negative for 11 banks.\nThe cryptocurrency market regained its lost glory this year after a highly disappointing 2022. A steady decline in the inflation rate and consequently the Fed’s decision to lower the magnitude of interest rate hike helped cryptocurrencies to regain pace.\xa0 A high interest rate is detrimental to growth assets like technology stocks, consumer discretionary stocks and cryptocurrencies.\nHowever, during the past month, cryptocurrencies were trading rangebound after the Fed’s decision to reinitiate rate hike in July following r a brief pause in the June FOMC meeting and the decision by Fitch Ratings to downgrade the U.S long-term foreign currency issuer default rating to AA+ from AAA. This resulted in a spike in yields of U.S. sovereign bonds.\nFinally, on Aug 8, Moody’s decision created a turmoil in the U.S. banking sector acting as a positive surprise to the cryptocurrency market. Cryptocurrencies are generally recognized as an alternative to the banking sector. In March, cryptocurrencies soared 50-60% following the debacle of Silicon Valley Bank and Signature Bank.\nOn Aug 8, major cryptocurrencies like Bitcoin, Ethereum, Cardano, Dogecoin and Litecoin advanced 1.9%, 1.5%, 2.1%, 1.6% and 1.9%, respectively. Notably, in the last 14 days, bitcoin was unable to move more than 1% in either direction.\nThe largest thrust for the crypto space has come from institutional investors. BlackRock Inc.’s decision to launch a Bitcoin ETF and the decision of The Charles Schwab-led consortium to create a new crypto exchange called EDX Markets, have attracted several investors toward cryptocurrencies like Bitcoin, Ethereum and Litecoin to name a few.\nThe latest addition to this league is PayPal, which has become the first major U.S. fintech company to offer its own crypto token with a dollar-pegged stablecoin known as PayPal USD.\nPayPal USD is designed to contribute to the opportunity stablecoins offer for payments and is 100% backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents. PayPal USD is redeemable 1:1 for U.S. dollars and is issued by Paxos Trust Company.\nNVIDIA Corp.is a semiconductor industry giant and one of the biggest success stories of 2023. Being a leading designer of graphic processing units (GPUs), the NVDA stock usually soars on a booming crypto market. This is because GPUs are pivotal to data centers, artificial intelligence, and the creation of crypto assets.\nNVIDIA’s expected earnings growth rate for the current year is 58.6% (ending January 2024). The Zacks Consensus Estimate for its current-year earnings has improved 1.7% over the last 30 days. NVDA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nRobinhood Markets Inc.operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform.\nRobinhood Markets has an expected earnings growth rate of 57.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 16.7% over the last seven days. HOOD currently carries a Zacks Rank #2 (Buy).\nShopify Inc.is an e-commerce company that allows merchants using its platform to accept cryptocurrencies as payment and has integrated with cryptocurrency payments processor CoinPayments.\nShopify’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for its current-year earnings has improved 6.7% over the last 60 days. SHOP currently has a Zacks Rank #2.\nCoinbase Global Inc.provides financial infrastructure and technology for the crypto economy in the United States and internationally. COIN offers the primary financial account in the crypto
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-10
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $574,410,029,500
- Hash Rate: 330756213.4390739
- Transaction Count: 358039.0
- Unique Addresses: 711323.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.53
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Low-priced stocks invariably catch the attention of investors. It provides an opportunity for diversification even with a limited capital. I see several stocks under $20 that have the potential to double within the next six months. This column focuses on these growth stocks to buy for quick returns. It’s worth noting that last year was challenging for investors with a correction in the index and a deeper correction in growth stocks . It seems clear that the market outlook has improved with the S&P 500 index trending higher by 17% for year-to-date. Based on industry or company specific triggers, certain stocks have skyrocketed. As an example, Marathon Digital (NASDAQ: MARA ) has surged by 400% for the year. Even if the markets remain sideways, there are some attractive opportunities to consider among growth stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Let’s discuss three growth stocks under $20 that are poised to double in the second half of 2023. Kinross Gold (KGC) Cellphone with business logo of Canadian mining company Kinross Gold Corp. on screen in front of webpage. Source: T. Schneider / Shutterstock.com Kinross Gold (NYSE: KGC ) stock has trended higher by 58% in the last 12 months. However, I believe that the stock is poised to double from current levels in the next two quarters. One reason to be bullish on KGC stock is valuations. At a forward price-earnings ratio of 15.1, the stock looks attractive. Additionally, the stock has a robust dividend yield of 2.36%. Further, I am bullish on Kinross with the company likely to deliver strong operational performance. For Q1 2023, Kinross reported operating cash flow of $259 million . Additionally, the company closed the quarter with a total liquidity buffer of $1.7 billion. With high financial flexibility, Kinross can potentially pursue inorganic growth. I expect this to happen as Kinross was forced to sell Russian assets in 2022 due to geopolitical factors. An acquisition can compensate for the decline in production visibility. It’s also worth mentioning here that Kinross rejected a takeover approach from Endeavour Mining (TSE: EDV ) in June. A juicer deal in the coming months might be another catalyst for KGC stock surging higher. Lithium Americas (LAC) smartphone with logo of Canadian company Lithium Americas Corp on screen Source: Wirestock Creators / Shutterstock.com Lithium Americas (NYSE: LAC ) trades a few cents above $20 with multiple positive catalysts on the horizon. With the stock having traded sideways in the last 12 months, a big breakout on the upside seems impending. First, Lithium Americas has approved the split of the company into two divisions. Lithium Americas will be operating North American assets while Lithium Argentina will focus on multiple assets in Argentina. I believe that the creation of two separate entities will translate into value unlocking. Story continues It’s also worth noting that the company announced first lithium as a part of commissioning at Caucharí-Olaroz. Additionally, purification processing equipment will be added in the second half of 2023 . The project being commissioned will ensure steady revenue upside in 2024. With these positive triggers and the commencement of construction at Thacker Pass project, the outlook for LAC stock is bullish. Riot Platforms (RIOT) In this photo illustration, the Riot Platforms (RIOT) logo is displayed on a smartphone screen. Source: rafapress / Shutterstock.com Riot Platforms (NASDAQ: RIOT ) has witnessed a massive rally of 196% in the last 12 months. However, I believe that the stock remains attractively valued, particularly if Bitcoin ( BTC-USD ) trends higher in the next six months. A strong balance sheet is the first reason to be bullish on Riot. As of Q1 2023, the company reported cash and digital assets of $390 million. Further, a zero-debt balance sheet implies high financial flexibility. Another reason to be bullish on Riot is aggressive mining capacity expansion. As of Q1 2023, the company had a deployed capacity of 10.5EH/s. With the recent purchase of miners, Riot expects to boost capacity to 20.1EH/s by mid-2024. The company has the option to buy additional miners. If this option is exercised, mining capacity will further swell to 35.4EH/s by December 2024 . If this expansion is undertaken and Bitcoin trends higher, Riot is positioned for massive growth in revenue and cash flows, making it one of the top stocks under $20. On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live Wall Street Titan: Here’s My #1 Stock for 2023 The $1 Investment You MUST Take Advantage of Right Now It doesn’t matter if you have $500 or $5 million. Do this now. The post 3 Under-$20 Stocks for 100% Returns During the Second Half of 2023 appeared first on InvestorPlace . View comments...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Irrespective of market conditions, investors are attracted towards penny stocks in the quest for multibagger returns. However, just because the stocks are cheap doesn’t you you shouldn’t be wary of bad investments. It’s unlikely that purely speculative names will be among the millionaire-maker penny stocks. The focus must be on undervalued penny stocks that represent good businesses. Further, there will be impending industry or company specific catalysts that need to be clearly identified. The risk here is that if these catalysts don’t play out, the stock returns will be subdued or negative. However, if the catalyst is triggered, 10x or 20x returns will not out of the question. The bottom-line: Invest what you can afford to lose in these undervalued millionaire-maker penny stocks. I am, however, optimistic that the stocks discussed represent companies where there is a high probability of the catalyst being triggered. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Let’s discuss three undervalued penny stocks and the specific factors that may spell stellar returns. Cronos (CRON) A marijuana leaf rests on top of little tins filled with a balm. Source: Shutterstock The big impending catalyst for the cannabis industry is federal-level legalization. If this scenario holds true, Cronos (NASDAQ: CRON ) will skyrocket, and I expect at least 10x returns in quick time. Even without federal level legalization, CRON is a deeply undervalued stock. As of Q2 2023, Cronos reported cash and equivalents of $841 million . The company’s cash buffer is higher than the current market valuation. Cronos intends to use the cash for aggressive expansion in the United States on federal-level legalization. At the same time, the cash will be utilized towards research and development to broaden the product portfolio. It’s also worth noting that Cronos has pursued cost-cutting initiatives. This includes the decision to exit the U.S. hemp business. The company expects to end the current financial year with the cash position swelling further. Being successful in arresting the cash burn is a major positive that will impact valuations. Solid Power (SLDP) Smartphone with logo of American battery company Solid Power Inc. on screen in front of business website. Focus on center-left of phone display. Source: T. Schneider / Shutterstock.com For Solid Power (NASDAQ: SLDP ) stock, multibagger returns depend on the company’s ability to commercialize solid-state batteries. If the company is successful in its research and development initiatives, 10x or 20x returns would not be surprising. I strongly believe that Solid Power is one of the best bets in the solid-state battery segment. Of course, commercialization is still a few years away. However, Solid Power seems to be making the right moves. Story continues One reason to be bullish is the fact that Solid Power has strong automotive partners. This includes Ford (NYSE: F ) and BMW (OTCMKTS: BMWYY ). In December, the company licensed its cell design and manufacturing process to BMW. The idea is to pursue parallel research and development. Solid Power will also be delivering EV battery cells to automotive partners in 2023 for validation testing. Potential approval of solid-state batteries by automotive majors can be a big catalyst for stock upside. Bitfarms (BITF) A Bitcoin (BTC) token in front of the Bitfinex logo. Source: Useacoin / Shutterstock.com For year-to-date 2023, Bitcoin ( BTC-USD ) has trended higher by 77%. For the same period, Bitfarms (NASDAQ: BITF ) stock has skyrocketed by 258%. This puts into perspective the upside potential for this Bitcoin miner. Furthermord, the basic assumption for BITF stock being a multibagger is a continued rally in Bitcoin. It’s important to note that Bitcoin halving is due in 2024, and a big upside might be impending. Standard Chartered believes that Bitcoin will quadruple by the end of 2024 . If this scenario holds true, BITF stock will skyrocket. Specific to Bitfarms, there are two reasons to be bullish. First, the company has been adding mining capacity on a sustained basis. As of July, mining capacity was 5.3EH/s . Further, Bitfarms expects to have zero debt in its balance sheet by February 2024. Additionally, the company reported a liquidity buffer of $48 million as of Q2 2023. With high financial flexibility, the company is positioned for aggressive expansion. This will translate into robust revenue growth and cash flow upside. On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now. The $1 Investment You MUST Take Advantage of Right Now The post Could These 3 Undervalued Penny Stocks Make You a Millionaire? appeared first on InvestorPlace . View comments', 'Irrespective of market conditions, investors are attracted towardspenny stocksin the quest for multibagger returns. However, just because the stocks are cheap doesn’t you you shouldn’t be wary of bad investments. It’s unlikely that purely speculative names will be among the millionaire-maker penny stocks. The focus must be on undervalued penny stocks that represent good businesses.\nFurther, there will be impending industry or company specific catalysts that need to be clearly identified. The risk here is that if these catalysts don’t play out, the stock returns will be subdued or negative. However, if the catalyst is triggered, 10x or 20x returns will not out of the question.\nThe bottom-line: Invest what you can afford to lose in these undervalued millionaire-maker penny stocks. I am, however, optimistic that the stocks discussed represent companies where there is a high probability of the catalyst being triggered.\nInvestorPlace - Stock Market News, Stock Advice & Trading Tips\nLet’s discuss three undervalued penny stocks and the specific factors that may spell stellar returns.\nSource: Shutterstock\nThe big impending catalyst for the cannabis industry is federal-level legalization. If this scenario holds true,Cronos(NASDAQ:CRON) will skyrocket, and I expect at least 10x returns in quick time. Even without federal level legalization, CRON is a deeply undervalued stock.\nAs of Q2 2023, Cronos reportedcash and equivalents of $841 million. The company’s cash buffer is higher than the current market valuation. Cronos intends to use the cash for aggressive expansion in the United States on federal-level legalization. At the same time, the cash will be utilized towards research and development to broaden the product portfolio.\nIt’s also worth noting that Cronos has pursued cost-cutting initiatives. This includes the decision to exit the U.S. hemp business. The company expects to end the current financial year with the cash position swelling further. Being successful in arresting the cash burn is a major positive that will impact valuations.\nSource: T. Schneider / Shutterstock.com\nForSolid Power(NASDAQ:SLDP) stock, multibagger returns depend on the company’s ability to commercialize solid-state batteries. If the company is successful in its research and development initiatives, 10x or 20x returns would not be surprising.\nI strongly believe that Solid Power is one of the best bets in the solid-state battery segment. Of course, commercialization is still a few years away. However, Solid Power seems to be making the right moves.\nOne reason to be bullish is the fact that Solid Power has strong automotive partners. This includesFord(NYSE:F) andBMW(OTCMKTS:BMWYY). In December, the company licensed its cell design and manufacturing process to BMW. The idea is to pursue parallel research and development.\nSolid Power will also bedelivering EV battery cells to automotive partnersin 2023 for validation testing. Potential approval of solid-state batteries by automotive majors can be a big catalyst for stock upside.\nSource: Useacoin / Shutterstock.com\nFor year-to-date 2023,Bitcoin(BTC-USD) has trended higher by 77%. For the same period,Bitfarms(NASDAQ:BITF) stock has skyrocketed by 258%. This puts into perspective the upside potential for this Bitcoin miner.\nFurthermord, the basic assumption for BITF stock being a multibagger is a continued rally in Bitcoin. It’s important to note that Bitcoin halving is due in 2024, and a big upside might be impending. Standard Chartered believes thatBitcoin will quadruple by the end of 2024.\nIf this scenario holds true, BITF stock will skyrocket. Specific to Bitfarms, there are two reasons to be bullish. First, the company has been adding mining capacity on a sustained basis. As of July,mining capacity was 5.3EH/s.\nFurther, Bitfarms expects to have zero debt in its balance sheet by February 2024. Additionally, the company reported a liquidity buffer of $48 million as of Q2 2023. With high financial flexibility, the company is positioned for aggressive expansion. This will translate into robust revenue growth and cash flow upside.\nOn the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.\nFaisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.\n• Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.\n• ChatGPT IPO Could Shock the World, Make This Move Before the Announcement\n• It doesn’t matter if you have $500 or $5 million. Do this now.\n• The $1 Investment You MUST Take Advantage of Right Now\nThe postCould These 3 Undervalued Penny Stocks Make You a Millionaire?appeared first onInvestorPlace.', 'Bitcoin dipped on Friday morning in Asia, falling below the US$29,500 threshold. Ether also edged down as other top 10 non-stablecoin cryptocurrencies traded mixed. Market experts expect Bitcoin and Ether to remain steady in the short term ahead of a potential rally backed by easing macroeconomic conditions. The Forkast 500 NFT Index was up, while in the U.S., core inflation data came in lower than expected. That strengthened bets the Federal Reserve will pause interest rate hikes, while global equities were mixed.\nBitcoin dropped 0.39% in the last 24 hours to US$29,439.41 as of 6:30 a.m. in Hong Kong but gained 0.95% for the week, according to CoinMarketCapdata. The world’s largest cryptocurrency by market capitalization hovered around the US$29,500 line after reaching a high of US$29,688 overnight.\nEther also edged down 0.09% to US$1,851.14 but posted a 1.08% weekly increase.\n“As we digest CPI numbers, the price of BTC and ETH has barely moved,” said Lucy Hu, senior trader at Hong Kong-headquartered digital asset management platform Metalpha. “We expect the major pairs BTC and ETH may continue to trade in a tight range, and likely trend higher.”\nThe U.S. headline Consumer Price Index (CPI) released by the Labor Department on Thursday gained 0.2% in July, raising the inflation indicator to 3.2%. That is lower than the expected 3.3% reported byReuters.\n“The CPI headline is an important one, which signals that we’re most likely at the end of the hiking curve from the Fed,” said Michaël van de Poppe, the chief executive officer of Amsterdam-based crypto trading company MN Trading.\n“Crypto native people are always eagerly looking at this event for forecasts and therefore, given that the outline is lower than expected, having a case where price starts to rally is a likely case,” said van de Poppe. He added that investors should now examine the U.S. Producer Price Index data released Friday as another key measure of wholesale inflation.\nAnalysts have also circled Aug. 13 — the next deadline for ARK Investment Management’s spot Bitcoin exchange traded fund (ETF) application in the U.S. — as another key date on the market calendar.\nARK initially made the application in April, and then filed an additional amendment in July.\nARK Invest CEO Cathie WoodtoldBloomberg Monday that the U.S. Securities and Exchange Commission will likely approve multiple spot crypto ETF applications at once, if they do decide to give them the green light.\nOther top 10 non-stablecoin cryptocurrencies traded mixed on Friday. Solana led the winners, adding 1.59% to US$24.70 for a bullish weekly gain of 9.56%. Tron also gained 1.15% to US$0.07717, adding 0.52% in the last seven days.\nThe total crypto market capitalization dipped 0.24% in the past 24 hours to US$1.17 trillion, while trading volume also declined 26.24% to US$26.47 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe main Forkast 500 NFT index rose 0.57% in the past 24 hours to 2,501.74 as of 09:15 a.m. in Hong Kong. It recorded a 1.24% gain for the week. Meanwhile, Forkast’s Ethereum, Polygon and Cardano NFT indexes logged losses, while the index measuring Solana NFTs gained.\nTotal NFT trading volume gained 21.42% in the past 24 hours to over US$18.87 million, according to data fromCryptoSlam.\nSales volume on Ethereum, the largest NFT network, jumped 53.44% to US$12.37 million. Polygon and Solana, which placed second and third on Cryptoslam’s NFT blockchain ranking, both logged losses.\nIn terms of NFT collections, trade volume of\xa0 Ethereum-based DeGods surged 740.14% to US$3.33 million. The digital art collection announced new updates by the name “Season III,” where one DeGod NFT holder receives four generative artworks and other perks.\nHowever, Yehudah Petscher, NFT Strategist at Forkast Labs, said the DeGods update was very poorly received by the community.\n“Instead of offering a free mint, or even affordable mint, the cost to upgrade your existing NFT to the new Season III art is 333 $DUST, which is around .4 ETH,” wrote Petscher.\nAs of Friday morning in Asia, 0.4 ETH amounts to US$739.35.\n“When projects like the CyberKongz fail to sell out at .25 ETH and are told that’s too expensive in this market, it’s hard to imagine who would think .4 ETH would work right now,” Petscher added.\nAlso, Opepen and Checks NFT collection maker Jack Butcher’s digital art collection, Infinity, was hacked Thursday, Butcher’s collaborator Jalil.eth posted on Twitter.\nThe hack drained 38.56 ETH (US$71,273.15) from the wallet.\nU.S. stock futures traded mixed to flat as of 11:30 a.m. in Hong Kong, after the stock market closed lower on Wednesday.\nMain stock indexes in Asia were also mixed on Friday — China’s Shanghai Composite, Hong Kong’s Hang Seng logged losses, while Japan’s Nikkei 225 and South Korea’s Kospi gained.\nJuly’s U.S. consumer price index (CPI), released Thursday, rose to 3.2%, lower than the expected 3.3%. That strengthened bets the U.S. Federal Reserve will pause its current cycle of interest rate hikes.\nSan Francisco Fed president Mary Daly said Thursday in a Yahoo! financeinterviewthat the latest CPI data does not mean the central bank has conquered inflation. She added that the Fed remains fully committed to reducing inflation to its 2% target.\nThe Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at the CME FedWatch Tool predict a 89.0% chance there will be no interest rate hike in September, up from 87.0% on Thursday.\nInvestors now await July’s Producer Price Index (PPI) — a key inflation indicator that monitors selling prices received by domestic producers of goods and services — which is set to be announced later on Friday.\nStocks in China and Hong Kong fell amid mounting Sino-U.S. tension. U.S. President Joe BidencalledChina a “ticking time bomb in many cases” on Thursday at a political fundraiser in Utah, pointing to its weak economic growth.\nOn Wednesday, Bidensignedan executive order to regulate U.S. investment in Chinese entities engaged in three sectors: semiconductors and microelectronics, quantum information technologies, and artificial intelligence.\n(Updates with equities section)', "Bitcoin dipped on Friday morning in Asia, falling below the US$29,500 threshold. Ether also edged down as other top 10 non-stablecoin cryptocurrencies traded mixed. Market experts expect Bitcoin and Ether to remain steady in the short term ahead of a potential rally backed by easing macroeconomic conditions. The Forkast 500 NFT Index was up, while in the U.S., core inflation data came in lower than expected. That strengthened bets the Federal Reserve will pause interest rate hikes, while global equities were mixed. Cryptos steady Bitcoin dropped 0.39% in the last 24 hours to US$29,439.41 as of 6:30 a.m. in Hong Kong but gained 0.95% for the week, according to CoinMarketCap data . The world’s largest cryptocurrency by market capitalization hovered around the US$29,500 line after reaching a high of US$29,688 overnight. Ether also edged down 0.09% to US$1,851.14 but posted a 1.08% weekly increase. “As we digest CPI numbers, the price of BTC and ETH has barely moved,” said Lucy Hu, senior trader at Hong Kong-headquartered digital asset management platform Metalpha. “We expect the major pairs BTC and ETH may continue to trade in a tight range, and likely trend higher.” The U.S. headline Consumer Price Index (CPI) released by the Labor Department on Thursday gained 0.2% in July, raising the inflation indicator to 3.2%. That is lower than the expected 3.3% reported by Reuters . “The CPI headline is an important one, which signals that we’re most likely at the end of the hiking curve from the Fed,” said Michaël van de Poppe, the chief executive officer of Amsterdam-based crypto trading company MN Trading. “Crypto native people are always eagerly looking at this event for forecasts and therefore, given that the outline is lower than expected, having a case where price starts to rally is a likely case,” said van de Poppe. He added that investors should now examine the U.S. Producer Price Index data released Friday as another key measure of wholesale inflation. Story continues Analysts have also circled Aug. 13 — the next deadline for ARK Investment Management’s spot Bitcoin exchange traded fund (ETF) application in the U.S. — as another key date on the market calendar. ARK initially made the application in April, and then filed an additional amendment in July. ARK Invest CEO Cathie Wood told Bloomberg Monday that the U.S. Securities and Exchange Commission will likely approve multiple spot crypto ETF applications at once, if they do decide to give them the green light. Other top 10 non-stablecoin cryptocurrencies traded mixed on Friday. Solana led the winners, adding 1.59% to US$24.70 for a bullish weekly gain of 9.56%. Tron also gained 1.15% to US$0.07717, adding 0.52% in the last seven days. The total crypto market capitalization dipped 0.24% in the past 24 hours to US$1.17 trillion, while trading volume also declined 26.24% to US$26.47 billion. DeGods NFT collection surges 740% with new update The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index rose 0.57% in the past 24 hours to 2,501.74 as of 09:15 a.m. in Hong Kong. It recorded a 1.24% gain for the week. Meanwhile, Forkast’s Ethereum, Polygon and Cardano NFT indexes logged losses, while the index measuring Solana NFTs gained. Total NFT trading volume gained 21.42% in the past 24 hours to over US$18.87 million, according to data from CryptoSlam . Sales volume on Ethereum, the largest NFT network, jumped 53.44% to US$12.37 million. Polygon and Solana, which placed second and third on Cryptoslam’s NFT blockchain ranking, both logged losses. In terms of NFT collections, trade volume of\xa0 Ethereum-based DeGods surged 740.14% to US$3.33 million. The digital art collection announced new updates by the name “Season III,” where one DeGod NFT holder receives four generative artworks and other perks. Welcome to DeGods Season III. Here's some previews. pic.twitter.com/FulByhp3iZ — DeGods (@DeGodsNFT) August 10, 2023 However, Yehudah Petscher, NFT Strategist at Forkast Labs, said the DeGods update was very poorly received by the community. “Instead of offering a free mint, or even affordable mint, the cost to upgrade your existing NFT to the new Season III art is 333 $DUST, which is around .4 ETH,” wrote Petscher. As of Friday morning in Asia, 0.4 ETH amounts to US$739.35. “When projects like the CyberKongz fail to sell out at .25 ETH and are told that’s too expensive in this market, it’s hard to imagine who would think .4 ETH would work right now,” Petscher added. Also, Opepen and Checks NFT collection maker Jack Butcher’s digital art collection, Infinity, was hacked Thursday, Butcher’s collaborator Jalil.eth posted on Twitter. dear all ‼️ a bug was found in the Infinity contract i built and it was abused to drain all the funds. i'm taking full responsibility for it. i took down the website just now. investigating exactly what happened. i will find a way to refund every single deposit. gutted… — jalil.eth (@jalil_eth) August 10, 2023 The hack drained 38.56 ETH (US$71,273.15) from the wallet. US inflation not yet conquered The Federal Reserve Headquarters in Washington, DC | Image: Getty Images U.S. stock futures traded mixed to flat as of 11:30 a.m. in Hong Kong, after the stock market closed lower on Wednesday. Main stock indexes in Asia were also mixed on Friday — China’s Shanghai Composite, Hong Kong’s Hang Seng logged losses, while Japan’s Nikkei 225 and South Korea’s Kospi gained. July’s U.S. consumer price index (CPI), released Thursday, rose to 3.2%, lower than the expected 3.3%. That strengthened bets the U.S. Federal Reserve will pause its current cycle of interest rate hikes. San Francisco Fed president Mary Daly said Thursday in a Yahoo! finance interview that the latest CPI data does not mean the central bank has conquered inflation. She added that the Fed remains fully committed to reducing inflation to its 2% target. The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at the CME FedWatch Tool predict a 89.0% chance there will be no interest rate hike in September, up from 87.0% on Thursday. Investors now await July’s Producer Price Index (PPI) — a key inflation indicator that monitors selling prices received by domestic producers of goods and services — which is set to be announced later on Friday. Stocks in China and Hong Kong fell amid mounting Sino-U.S. tension. U.S. President Joe Biden called China a “ticking time bomb in many cases” on Thursday at a political fundraiser in Utah, pointing to its weak economic growth. On Wednesday, Biden signed an executive order to regulate U.S. investment in Chinese entities engaged in three sectors: semiconductors and microelectronics, quantum information technologies, and artificial intelligence. (Updates with equities section)", '• US stocks closed higher Thursday but gave up their biggest gains as traders assess July CPI data.\n• Inflation last month came in at 3.2%, higher than June but lower than what was expected.\n• Markets are deciding if it was enough to warrant a full pivot by the Fed away from tight monetary policy.\nUS stocks ended Thursday in the green but gave up the biggest gains of the day as investors assessed the outlook for monetary policy on the back ofJuly\'s Consumer Price Index report.\nThe Dow Jones Industrial Average was up nearly 450 points at one point earlier in the session before selling off as the day went on.\nInvestors are at odds over whether July\'s inflation data, which showed prices rose at a slower pace than expected but still faster than what was clocked in June, is enough for the Federal Reserve to make its long-awaited dovish pivot.\nPrices last month rose at a rate of 3.2%, slightly below expectations of 3.3%.\n"[W]e think the July CPI report adds weight to the case for a September pause. However, what is good enough for a pause is unlikely to be the same as what is good enough for a cut," analysts from BNP Paribas wrote in a note.\nWhile a pause would be welcomed by stock market investors, inflation falling closer to the Fed\'s 2% target is what would be needed to solidify the outlook for interest rate cuts by the first quarter of next year, observers say. That could also coincide with what many believe will be a mild US recession in the early part of 2024.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Thursday:\n• S&P 500:4,468.91, up 0.03%\n• Dow Jones Industrial Average:35,175.75, up 0.15% (+52 points)\n• Nasdaq Composite:13,737.99, up 0.12%\nHere\'s what else is happening today\n• Wall Street is loving Disney\'s nearly 30% hike to streaming prices. The stock closed 4.8% higher.\n• Massive home-price appreciation over the last decadecould be the key to keeping consumers afloat as savings dwindle.\n• Russia says it\'ll stop buying foreign currenciesthrough the rest of this year and launch a digital ruble to prop up its own currency.\n• The stock market\'s "no recession rally" is over. Investors should expect flat returns for the rest of the year.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 2.01% to $82.70 a barrel.Brent, the international benchmark, fell 1.44% to $86.29 a barrel.\n• Golddipped 0.24% to $1,946.00 per ounce.\n• The yield on the 10-year Treasury bond rose nine basis points to 4.10%.\n• Bitcoinfell 0.52% to $29,411.\nRead the original article onBusiness Insider', 'Photo by Michael Nagle/Xinhua via Getty Images) US stocks closed higher Thursday but gave up their biggest gains as traders assess July CPI data. Inflation last month came in at 3.2%, higher than June but lower than what was expected. Markets are deciding if it was enough to warrant a full pivot by the Fed away from tight monetary policy. US stocks ended Thursday in the green but gave up the biggest gains of the day as investors assessed the outlook for monetary policy on the back of July\'s Consumer Price Index report. The Dow Jones Industrial Average was up nearly 450 points at one point earlier in the session before selling off as the day went on. Investors are at odds over whether July\'s inflation data, which showed prices rose at a slower pace than expected but still faster than what was clocked in June, is enough for the Federal Reserve to make its long-awaited dovish pivot. Prices last month rose at a rate of 3.2%, slightly below expectations of 3.3%. "[W]e think the July CPI report adds weight to the case for a September pause. However, what is good enough for a pause is unlikely to be the same as what is good enough for a cut," analysts from BNP Paribas wrote in a note. While a pause would be welcomed by stock market investors, inflation falling closer to the Fed\'s 2% target is what would be needed to solidify the outlook for interest rate cuts by the first quarter of next year, observers say. That could also coincide with what many believe will be a mild US recession in the early part of 2024. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Thursday: S&P 500 : 4,468.91, up 0.03% Dow Jones Industrial Average : 35,175.75, up 0.15% (+52 points) Nasdaq Composite : 13,737.99, up 0.12% Here\'s what else is happening today Wall Street is loving Disney\'s nearly 30% hike to streaming prices . The stock closed 4.8% higher. Massive home-price appreciation over the last decade could be the key to keeping consumers afloat as savings dwindle. Russia says it\'ll stop buying foreign currencies through the rest of this year and launch a digital ruble to prop up its own currency. The stock market\'s "no recession rally" is over . Investors should expect flat returns for the rest of the year. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 2.01% to $82.70 a barrel. Brent , the international benchmark, fell 1.44% to $86.29 a barrel. Gold dipped 0.24% to $1,946.00 per ounce. The yield on the 10-year Treasury bond rose nine basis points to 4.10%. Bitcoin fell 0.52% to $29,411. Read the original article on Business Insider', 'Crypto-services provider Matrixport\'s proprietary Bitcoin Greed & Fear Index, which has a solid track record of marking trend reversals, is signaling a bull revival in bitcoin ( BTC ) The Greed & Fear Index measures investor sentiment. Readings above 90% signal greed or excess optimism, and readings below 10% represent extreme fear or pessimism. Such indicators are widely tracked because excess optimism or greed is often seen at market tops while fear is seen at market bottoms. Data shows Matrixport\'s index recently turned higher from 30% to 60%, bottoming out after July\'s slide from above 90%. "The index appears to have bottomed out as the daily signal (grey) is projecting upside pressure. After four weeks of consolidation, this indicator is tactically bullish and bitcoin prices could resume the uptrend," Markus Thielen, head of research and strategy at Matrixport, wrote in a note to clients on Thursday. Matrixport\'s Bitcoin Greed & Fear Index Notice how tops and bottoms in the index and the index\'s 21-day simple moving average, or SMA, have historically coincided with bullish and bearish reversals in bitcoin\'s price. The 21-day SMA now shows signs of bottoming out, supporting the case for a renewed upside volatility in bitcoin. Bitcoin has been listless for some time now, trading between $28,000 and $30,000 for over two weeks, amid volatility in traditional markets and expectations for interest-rate cuts by the Federal Reserve early next year. According to some analysts, the U.S. Securities and Exchange Commission\'s pending decision on whether to approve a spot exchange-traded fund is a crucial catalyst for price volatility. The regulator is facing a deadline on Sunday to approve or reject Ark Invest’s spot bitcoin ETF application, although some analysts expect the decision to come on Friday. Heads up, bitcoin ETF news tomorrow. A delay is almost a certainty and likely fully priced in. If by any chance the SEC approves or rejects the ARK ETF, prices will run and not look back. https://t.co/SXuIWcX7nd — Alex Krüger (@krugermacro) August 11, 2023', 'Shiba Inu ( SHIB ) tokens have been among the top-performing cryptocurrencies over the past week amid low volatility conditions for bitcoin ( BTC ). The tokens have risen 20% over the past week, compared with nominal gains for bitcoin and ether ( ETH ). Among alternative currencies, higher returns were generated only by rollbit (RLB) and unibot (UNIBOT). Trading volumes hit $315 million over a 24-hour period on Thursday, their highest point since February. Crypto analytics firm Kaiko pointed to increased developer activity on Shiba Inu earlier this week, which suggests that the price gains weren\'t without cause. #SHIB is no joke. The memecoin has surged more than 25% since July 1st following a wave of developer activity on the network. pic.twitter.com/mUfomDBVYB \x97 Kaiko (@KaikoData) August 9, 2023 Traders of the meme coin, which is vying to be a decentralized-finance powerhouse, are likely buying tokens ahead of the expected launch of Shibarium, a Shiba Inu-based blockchain, later this month. Some of the recent bullish sentiment came as developers said last week they would tie digital identity verification to all Shiba Inu developments in the future, including on Shibarium. Dubbed self-sovereign identity, or SSI, the IDs are the digital alter ego of identity documents, like passports and driver\x92s licenses. In the digital world, SSI is said to give users more control over their personal data and its distribution online. The developers said the rising interest in digital identities and data protection in Canada and the European Union could help position Shiba Inu as a more serious \x97 and compliant \x97 project compared with other blockchains. Some say such developments could ultimately make the case for shib tokens as a long-term holding among serious investors. Story continues "Shiba Inu is one of the very few meme coins that has a thriving community but lacked the backing of serious long-term crypto believers due to its inherent nature lacking any valid use case. But the launch of Shibarium is definitely a positive and bold step in the right direction," Khaleelulla Baig, co-founder of crypto exchange KoinBasket, wrote in a Telegram message. "If they can pull this off well, I see this trend spreading across to other meme coins with strong communities and network effects," Baig added. Shiba Inu developers have previously said Shibarium would have a focus on metaverse and gaming applications, especially as the non-fungible-token sector is expected to heat up in the coming years. A test blockchain for Shibarium has seen meaningful activity in the past months with 27 million transactions from an estimated 16 million wallets as of July, indicating brisk demand for the network.', 'Watch: Institutional investment brings new momentum to the crypto-space | The Crypto Mile\nFinancial institutions are becoming increasingly interested in crypto, fuelling fresh speculation of a new bull-run.\nThe recentspot bitcoin exchange-traded fund (ETF) filings(BTC-USD) by major fund managers, such as Fidelity (FNF) and BlackRock (BLK) have caused a paradigm shift in how digital assets are perceived by traditional finance incumbents.\nAdded to this was BlackRock CEO Larry Fink\'s Julyinterview with CNBCconcerning the depreciation of the dollar, and how "an international crypto product can really transcend that".\nRead more:Bitcoin rallies to $30,000 after BlackRock\'s ETF filing\nOnThe Crypto Milethis week, Yahoo Finance UK spoke with Michael Roberts, head of prime at Copper, to delve into the increasing institutional interest in crypto and digital assets.\n"The momentum that was lost after the collapse of the FTX exchange in November 2022 is starting to come back. In June, we saw the first month of positive institutional inflows into the crypto space," Roberts said.\nHe underscored the implications of recent developments from heavyweight financial institutions. "The multiple spot bitcoin ETF filings from major fund managers, such as BlackRock and Fidelity, give conviction to the investment banks that this is an asset class with potential."\nRoberts noted the profound impact of these large firms on the investment landscape, suggesting that when a firm like BlackRock shows interest, it essentially paves the way for many others: "A firm like BlackRock getting involved has signalled to investment banks to start looking at bitcoin, and that they should take the asset class seriously."\nRead more:Sam Bankman-Fried ‘to break his silence’ over catastrophic FTX collapse\nCommenting on bitcoin\'s evolving reputation, Roberts observed, "Bitcoin is maybe delivering on its promises as a store of value and a protection play." He added that there\'s now "an element of maturity in the crypto market".\nRoberts touched upon the innovative aspects of the crypto industry that are drawing interest from institutional players. He emphasised the tokenisation of real world assets and its potential application to traditional markets. "The real promise of this space is the innovations contained within it," he remarked, referring to the digitisation of tangible assets like equities and bonds.\nRead more:Sovereign agents: Your own personal AI assistant? | The Crypto Mile\nElaborating on the products Copper provides, he stated, "We now have the products to allow our institutional clients to participate in this space in a safe way."\nRoberts highlighted Copper\'s unique selling proposition: offering exchange solutions that hold collateral in a UK trust structure. This, he believes, ensures that "investors can invest in the space and that these assets, which are bearer instruments, are not going to be misappropriated, as they were with FTX".\nRoberts also turned his attention to the Asian market, where he sees immense potential. "Institutional interest in public blockchains is big in Asia," he revealed, expressing his surprise at the region\'s intense focus on the digital asset space. "Certainly, the next bull run could come from Asia," he added.\nWatch: ChatGPT and stock picking: Hedge fund manager shares AI trading strategy | The Crypto Mile\nDownload the Yahoo Finance app, available forAppleandAndroid.', 'Watch: Institutional investment brings new momentum to the crypto-space | The Crypto Mile Financial institutions are becoming increasingly interested in crypto, fuelling fresh speculation of a new bull-run. The recent spot bitcoin exchange-traded fund (ETF) filings ( BTC-USD ) by major fund managers, such as Fidelity ( FNF ) and BlackRock ( BLK ) have caused a paradigm shift in how digital assets are perceived by traditional finance incumbents. Added to this was BlackRock CEO Larry Fink\'s July interview with CNBC concerning the depreciation of the dollar, and how "an international crypto product can really transcend that". Read more: Bitcoin rallies to $30,000 after BlackRock\'s ETF filing On The Crypto Mile this week, Yahoo Finance UK spoke with Michael Roberts, head of prime at Copper, to delve into the increasing institutional interest in crypto and digital assets. "The momentum that was lost after the collapse of the FTX exchange in November 2022 is starting to come back. In June, we saw the first month of positive institutional inflows into the crypto space," Roberts said. He underscored the implications of recent developments from heavyweight financial institutions. "The multiple spot bitcoin ETF filings from major fund managers, such as BlackRock and Fidelity, give conviction to the investment banks that this is an asset class with potential." Roberts noted the profound impact of these large firms on the investment landscape, suggesting that when a firm like BlackRock shows interest, it essentially paves the way for many others: "A firm like BlackRock getting involved has signalled to investment banks to start looking at bitcoin, and that they should take the asset class seriously." Read more: Sam Bankman-Fried ‘to break his silence’ over catastrophic FTX collapse Commenting on bitcoin\'s evolving reputation, Roberts observed, "Bitcoin is maybe delivering on its promises as a store of value and a protection play." He added that there\'s now "an element of maturity in the crypto market". Story continues Roberts touched upon the innovative aspects of the crypto industry that are drawing interest from institutional players. He emphasised the tokenisation of real world assets and its potential application to traditional markets. "The real promise of this space is the innovations contained within it," he remarked, referring to the digitisation of tangible assets like equities and bonds. Read more: Sovereign agents: Your own personal AI assistant? | The Crypto Mile Elaborating on the products Copper provides, he stated, "We now have the products to allow our institutional clients to participate in this space in a safe way." Roberts highlighted Copper\'s unique selling proposition: offering exchange solutions that hold collateral in a UK trust structure. This, he believes, ensures that "investors can invest in the space and that these assets, which are bearer instruments, are not going to be misappropriated, as they were with FTX". Roberts also turned his attention to the Asian market, where he sees immense potential. "Institutional interest in public blockchains is big in Asia," he revealed, expressing his surprise at the region\'s intense focus on the digital asset space. "Certainly, the next bull run could come from Asia," he added. Watch: ChatGPT and stock picking: Hedge fund manager shares AI trading strategy | The Crypto Mile Download the Yahoo Finance app, available for Apple and Android .', 'Bitcoin and Ether fell during Friday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Despite its recent crab walk, Bitcoin is in a “bullish scenario” as long as it holds US$27,500, industry experts toldForkast.\nSee related article:Weekly Market Wrap: Bitcoin plunges under US$30,000 amid market turbulence. Is US$27,000 next?\nBitcoin was little changed during afternoon trading in Asia, trading at US$29,397 as of 4:30 p.m. in Hong Kong after it briefly rallied to a weekly high of US$30,144 on Tuesday.\n“If Bitcoin holds above US$27,500, it could test US$31,000-32,000. There’s also a pivot at approximately US$28,200, which could prove to be solid support. If it were to hold, the price of Bitcoin could rally and even break out,” Lucas Kiely, chief investment officer of digital asset platformYield App, toldForkast,adding that we’re in a “bullish scenario.”\n“If it does break below the current trendline, it would signal a possible end to a long term uptrend, dating back to the regional banking crisis in the US when Silicon Valley Bank, Metropolitan Bank and Silvergate shuttered.”\nIn the wider crypto market, Ether fell 0.16% during afternoon trading in Asia to US$1,848, remaining below the US$1,900 support level since July 23.\nSolana’s SOL tokenwas the day’s biggest gainer in the top 10, rising 0.92% to US$24.49, followed bythe XRP token, up 0.72% in the past 24 hours to US$0.6308.\nLitecoin sustained the biggest loss, falling 1.03% to US$83.02, followed by the BNB token that lost 0.57% to US$240.43.\nTotal crypto market capitalization over the past 24 hours fell 0.11% to US$1.17 trillion while market volume decreased 17.77% to US$25.42 billion, according toCoinMarketCapdata.\nTheForkast 500 NFT indexinched up 0.01% to 2,496.49 points in the 24 hours to 4:30 p.m. in Hong Kong and rose 0.89% during the week.\nBitcoin’s 24-hour non-fungible token sales rose for a second consecutive day, gaining 8.35% to US$348,449 with the network remaining the seventh largest blockchain by 24-hour NFT sales volume, according toCryptoSlam.\nEthereum’s 24-hour NFT sales rallied 62.68% to US$13.43 million, propelled by stronger interest in DeGods that saw sales rise 572% in the past 24 hours to US$3.13 million, making it the largest NFT collection across all blockchains. The surge of interest follows yesterday’sannouncementof the beginning of season III, which will introduce female DeGods NFTs, get rid of unpopular NFT traits and offer DeGods holders four generative art pieces.\n“DeGods Season III was finally fully announced and received a very poor response from the community. Instead of offering a free mint, or even affordable mint, the cost to upgrade your existing NFT to the new Season III art is 333 $DUST, which is around 0.4 ETH,” said Yehudah Petscher, NFT strategist for Forkast Labs.\n“When projects like the CyberKongz fail to sell out at 0.25 ETH and are told that’s too expensive in this market, it’s hard to imagine who would think 0.4 ETH would work right now.”\nPolygon-native NFT collection DraftKings remained the second-largest collection by 24-hour sales volume for a second day, but fell 11.32% to US$1.15 million, as Polygon remained the second-largest network by 24-hour sales volume, with NFT sales on the network down 14.81% to US$2.04 million. TheForkast Pol NFT Compositealso fell 0.61% in the past 24 hours.\nAmong Forkast Labs NFT indexes, theForkast SOL NFT Compositewas the only one in the green for the day.\nMost major Asian equities fell as of 4:30 p.m. in Hong Kong, except Japan’sNikkei 225. Hong Kong’sHang Seng Index, theShenzhen Componentand theShanghai Compositeall posted losses.\nTraders in the mainland were concerned about a property crisis, after Chinese developer Country Gardenpredicteda multi-billion dollar loss for the first half of the year.\nThe much-awaited U.S. consumer price index (CPI) report was released yesterday, showing that inflation rose 3.2% from a year ago in July, with core CPI excluding food and energy prices also increasing 0.2% for the month, representing the smallest monthly increase in the past two and a half years and matching preliminary estimates.\nMost U.S. stock futures fell on Friday, except the Dow Jones Industrial Average futures. The S&P 500 futures index and the tech-heavy Nasdaq-100 futures both posted losses.\nInvestor sentiment was dragged down by San Francisco Reserve Bank President Mary Daly, who said the Federal Reserve still has “more work to do” to curb inflation, reducing the positive impact of upbeat CPI data.\nOver in Europe, equities reversed yesterday’s gains, with the DAX 40 down 0.43% and the pan-European Stoxx 600 index losing 0.64%.\nSee related article:Standard Chartered’s great expectations for Bitcoin in 2024\nUpdates with equities', 'Bitcoin and Ether fell during Friday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Despite its recent crab walk, Bitcoin is in a “bullish scenario” as long as it holds US$27,500, industry experts toldForkast.\nSee related article:Weekly Market Wrap: Bitcoin plunges under US$30,000 amid market turbulence. Is US$27,000 next?\nBitcoin was little changed during afternoon trading in Asia, trading at US$29,397 as of 4:30 p.m. in Hong Kong after it briefly rallied to a weekly high of US$30,144 on Tuesday.\n“If Bitcoin holds above US$27,500, it could test US$31,000-32,000. There’s also a pivot at approximately US$28,200, which could prove to be solid support. If it were to hold, the price of Bitcoin could rally and even break out,” Lucas Kiely, chief investment officer of digital asset platformYield App, toldForkast,adding that we’re in a “bullish scenario.”\n“If it does break below the current trendline, it would signal a possible end to a long term uptrend, dating back to the regional banking crisis in the US when Silicon Valley Bank, Metropolitan Bank and Silvergate shuttered.”\nIn the wider crypto market, Ether fell 0.16% during afternoon trading in Asia to US$1,848, remaining below the US$1,900 support level since July 23.\nSolana’s SOL tokenwas the day’s biggest gainer in the top 10, rising 0.92% to US$24.49, followed bythe XRP token, up 0.72% in the past 24 hours to US$0.6308.\nLitecoin sustained the biggest loss, falling 1.03% to US$83.02, followed by the BNB token that lost 0.57% to US$240.43.\nTotal crypto market capitalization over the past 24 hours fell 0.11% to US$1.17 trillion while market volume decreased 17.77% to US$25.42 billion, according toCoinMarketCapdata.\nTheForkast 500 NFT indexinched up 0.01% to 2,496.49 points in the 24 hours to 4:30 p.m. in Hong Kong and rose 0.89% during the week.\nBitcoin’s 24-hour non-fungible token sales rose for a second consecutive day, gaining 8.35% to US$348,449 with the network remaining the seventh largest blockchain by 24-hour NFT sales volume, according toCryptoSlam.\nEthereum’s 24-hour NFT sales rallied 62.68% to US$13.43 million, propelled by stronger interest in DeGods that saw sales rise 572% in the past 24 hours to US$3.13 million, making it the largest NFT collection across all blockchains. The surge of interest follows yesterday’sannouncementof the beginning of season III, which will introduce female DeGods NFTs, get rid of unpopular NFT traits and offer DeGods holders four generative art pieces.\n“DeGods Season III was finally fully announced and received a very poor response from the community. Instead of offering a free mint, or even affordable mint, the cost to upgrade your existing NFT to the new Season III art is 333 $DUST, which is around 0.4 ETH,” said Yehudah Petscher, NFT strategist for Forkast Labs.\n“When projects like the CyberKongz fail to sell out at 0.25 ETH and are told that’s too expensive in this market, it’s hard to imagine who would think 0.4 ETH would work right now.”\nPolygon-native NFT collection DraftKings remained the second-largest collection by 24-hour sales volume for a second day, but fell 11.32% to US$1.15 million, as Polygon remained the second-largest network by 24-hour sales volume, with NFT sales on the network down 14.81% to US$2.04 million. TheForkast Pol NFT Compositealso fell 0.61% in the past 24 hours.\nAmong Forkast Labs NFT indexes, theForkast SOL NFT Compositewas the only one in the green for the day.\nMost major Asian equities fell as of 4:30 p.m. in Hong Kong, except Japan’sNikkei 225. Hong Kong’sHang Seng Index, theShenzhen Componentand theShanghai Compositeall posted losses.\nTraders in the mainland were concerned about a property crisis, after Chinese developer Country Gardenpredicteda multi-billion dollar loss for the first half of the year.\nThe much-awaited U.S. consumer price index (CPI) report was released yesterday, showing that inflation rose 3.2% from a year ago in July, with core CPI excluding food and energy prices also increasing 0.2% for the month, representing the smallest monthly increase in the past two and a half years and matching preliminary estimates.\nMost U.S. stock futures fell on Friday, except the Dow Jones Industrial A
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-11
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $572,526,069,750
- Hash Rate: 393261324.6401588
- Transaction Count: 506538.0
- Unique Addresses: 733810.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.51
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin and Ether fell during Thursday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. With a lack of positive news catalysts, Bitcoin could fall to the US$28,500 support level, but US$27,500 is also on the table, industry experts toldForkast.
See related article:Weekly Market Wrap: Bitcoin plunges under US$30,000 amid market turbulence. Is US$27,000 next?
Bitcoin was little changed during afternoon trading in Asia, trading at US$29,485 as of 4:30 p.m. in Hong Kong after it briefly rallied to US$30,057 during yesterday’s session.
“Bitcoin and the broader crypto index generally broke lower in recent days. Bitcoin fell precipitously before rebounding back over US$29,000 but continues to get rejected at the US$30,000 level,” Lucas Kiely, chief investment officer of digital asset platform Yield App, toldForkast.
“We seem to be moving further away from those levels, which indicates Bitcoin could move lower. US$28,5000 works as a key support level here. If Bitcoin falls below that price, it would likely fall to approximately US$27,500.”
In the wider crypto market, Ether fell 0.32% during afternoon trading in Asia to US$1,850, remaining below the US$1,900 support level since July 23.
The XRP tokenwas the day’s biggest loser in the top 10, falling 2.4% in the past 24 hours to US$0.6262, followed bySolana’s SOL token, down 1.26% to US$24.29.
All other top 10 cryptocurrencies fell in the past 24 hours, except Tron’s TRX that rose 0.15% to US$0.07684.
Total crypto market capitalization over the past 24 hours fell 0.85% to US$1.17 trillion while market volume decreased 23.42% to US$30.91 billion, according toCoinMarketCapdata.
TheForkast 500 NFT indexfell 1.21% to 2,496.92 points in the 24 hours to 4:30 p.m. in Hong Kong and rose 0.73% during the week.
Bitcoin’s 24-hour non-fungible token sales recovered after three consecutive days of declines, gaining 7.97% to US$308,469 with the network rising to the seventh largest blockchain by 24-hour NFT sales volume, according toCryptoSlam.
Polygon-native NFT collection DraftKings remained the second-largest collection by 24-hour sales volume, but fell 71.14% to US$1.3 million, as Polygon remained the second-largest network by 24-hour sales volume, with NFT sales on the network down 56.88% to US$2.3 million. Mirroring the sales decrease, theForkast Pol NFT Compositefell 0.97% in the past 24 hours.
“[DraftKings] are being driven by fantasy football packs in the Reinmakers series. Packs range from US$20 – US$9,999, and some with supplies of over 50k packs. You can see how with brands like DraftKings and NFL, and prices like that, how they can rack up millions of dollars in sales in a day,” said Yehudah Petscher, NFT strategist for Forkast Labs.
Ethereum’s 24-hour NFT sales rose 2.02% to US$9.26 million, while sales for the largest Ethereum-native NFT collection, theBored Ape Yacht Club, rose 71.64% to US$1.34 million.
DeGods rose 54.74% to US$738,121, becoming the third-largest collection by 24-hour sales volume across all blockchains, after the collectionannouncedthe beginning of season 3 today, which will introduce female DeGods NFTs, get rid of unpopular NFT traits and offering DeGods holders four generative art pieces.
Among Forkast Labs NFT indexes, theForkast POL NFT Compositeand theForkast CAR NFT Compositewere the only ones in the red for the day.
Major Asian equities recovered after yesterday’s slump, with Hong Kong’sHang Seng Index, Japan’sNikkei 225, theShenzhen Componentand theShanghai Compositeall posting gains.
Investors worldwide now look forward to the release of U.S. consumer price index data for July, scheduled for tomorrow, to gauge the Fed’s future monetary policy decisions. Bloomberg analystsexpectthe core CPI to rise 0.2% in July, which would be the smallest monthly increase in the past two and a half years.
Ahead of the inflation numbers, U.S. stock futures rose for a second consecutive day on Thursday, with the Dow Jones Industrial Average futures, the S&P 500 futures index and the tech-heavy Nasdaq-100 futures all rising higher.
Over in Europe, equities rose for a second consecutive day, with the DAX 40 up 0.4% and the pan-European Stoxx 600 index up 0.38%.
On the corporate front, investors are anticipating earnings from companies like Alibaba Group, Brookfield Corporation, Wheaton Precious Metals and Ralph Lauren corporation.
See related article:Standard Chartered’s great expectations for Bitcoin in 2024
Updates with equities...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Lucas Jackson/Reuters US stocks finished the week mostly lower as investors digest mixed inflation data. While the July CPI report came in lower than expected, the producer price index was higher than economist estimates. The conflicting data will serve as a major input into the Federal Reserve\'s next interest rate decision. US stocks were mixed on Friday and finished the week mostly lower as investors digest inflationary data, which will serve as a major input into the Federal Reserve\'s next interest rate decision in September. The July consumer price index came in lower than economist estimates and showed a continued cooldown in inflation, while July producer price index came in hotter than economist estimates, though it did indicate most prices are falling from year-ago levels. Despite the conflicting data, investors still expect the Federal Reserve to pause their interest rate hikes at their September FOMC meeting, according to the CME FedWatch Tool. But that doesn\'t mean interest rate hikes are over, as the Fed is still awaiting the August CPI and jobs report to inform its decision. "The increase in wholesale prices serves as a reminder that the data-dependent Fed isn\'t ready to declare victory on its campaign to quell inflation," LPL\'s chief global strategist Quincy Krosby said. "Today\'s report offers the hawkish wing of the Fed more ammunition to advocate for another rate hike before the Fed is convinced it\'s reached its terminal rate." Here\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Friday: S&P 500 : 4,464.18, down 0.1% Dow Jones Industrial Average : 35,281.86, up 0.3% (+105.32 points) Nasdaq Composite : 1 3,644.85, down 0.68% Here\'s what else is going on today: Market pundits are growing confident that the Fed is not only done hiking interest rates, but that they could cut rates early next year. Apple has bought back more than $500 billion of its stock via buybacks since 2012, more than the worth of Visa, JPMorgan, and Exxon. Saudi Arabia is about to send more oil to China , even though it\'s slashed crude supply levels. The US housing market just hit a record value of $47 trillion as the inventory shortage fuels a price boom. Goldman Sachs\' ex-CEO called up his successor to complain after taking a $50 million hit on the bank\'s stock. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 0.40% to $83.15 a barrel. Brent , the international benchmark, jumped 0.32% to $86.68 a barrel. Gold fell 0.20% to $1,945.00 per ounce. The yield on the 10-year Treasury bond jumped six basis points to 4.17%. Bitcoin fell 0.23% to $29,360. Read the original article on Business Insider', '• US stocks finished the week mostly lower as investors digest mixed inflation data.\n• While the July CPI report came in lower than expected, the producer price index was higher than economist estimates.\n• The conflicting data will serve as a major input into the Federal Reserve\'s next interest rate decision.\nUS stocks were mixed on Friday and finished the week mostly lower as investors digest inflationary data, which will serve as a major input into the Federal Reserve\'s next interest rate decision in September.\nThe July consumer price index came in lower than economist estimates and showed a continued cooldown in inflation, while July producer price index came in hotter than economist estimates, though it did indicate most prices are falling from year-ago levels.\nDespite the conflicting data, investors still expect the Federal Reserve to pause their interest rate hikes at their September FOMC meeting, according to the CME FedWatch Tool. But that doesn\'t mean interest rate hikes are over, as the Fed is still awaiting the August CPI and jobs report to inform its decision.\n"The increase in wholesale prices serves as a reminder that the data-dependent Fed isn\'t ready to declare victory on its campaign to quell inflation," LPL\'s chief global strategist Quincy Krosby said. "Today\'s report offers the hawkish wing of the Fed more ammunition to advocate for another rate hike before the Fed is convinced it\'s reached its terminal rate."\nHere\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Friday:\n• S&P 500:4,464.18, down 0.1%\n• Dow Jones Industrial Average:35,281.86, up 0.3% (+105.32 points)\n• Nasdaq Composite: 13,644.85, down 0.68%\nHere\'s what else is going on today:\n• Market pundits are growing confident that the Fed is not only done hiking interest rates,but that they could cut rates early next year.\n• Apple has bought back more than $500 billion of its stockvia buybacks since 2012, more than the worth of Visa, JPMorgan, and Exxon.\n• Saudi Arabia is about to send more oil to China, even though it\'s slashed crude supply levels.\n• TheUS housing market just hit a record value of $47 trillionas the inventory shortage fuels a price boom.\n• Goldman Sachs\'ex-CEO called up his successor to complain after taking a $50 million hiton the bank\'s stock.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 0.40% to $83.15 a barrel.Brent, the international benchmark, jumped 0.32% to $86.68 a barrel.\n• Goldfell 0.20% to $1,945.00 per ounce.\n• The yield on the 10-year Treasury bond jumped six basis points to 4.17%.\n• Bitcoinfell 0.23% to $29,360.\nRead the original article onBusiness Insider', "Investors are again pouring money into meme-focused cryptocurrency Shiba Inu ( SHIB ) in a sign of caution for bitcoin ( BTC ) traders. Open interest in Binance's SHIB futures has more than doubled to $101.65 million this month, hitting the highest since Feb. 5, according to data source Coinglass . SHIB futures are sized at 1,000 SHIB per contract with up to 25 times leverage. SHIB's market value has jumped nearly 32% to $6.58 billion amid optimism that an impending layer-2 launch will help the cryptocurrency shed its meme-coin tag. An increase in open interest alongside a rise in market capitalization suggests an influx of new money in the SHIB market. This scenario has historically presaged weakness in bitcoin, the leading cryptocurrency by market value. Increased inflows into SHIB futures tend to occur at interim bitcoin price tops. (Coinglass) SHIB's open interest has risen above the $100 million mark at least seven times since its inception. The previous six spikes marked local bitcoin price tops. The pattern is consistent with traditional markets where outsized gains in meme stocks relative to defensive plays are seen as a contrary indicator for the broader market. Bitcoin, the leading cryptocurrency by market value, has traded dead flat near $30,000 this month amid the SHIB rally, CoinDesk data show. Past performance, however, is not a guarantee of future results and some analysts expect bitcoin to resume the uptrend.", "Investors are again pouring money into meme-focused cryptocurrency Shiba Inu (SHIB) in a sign of caution for bitcoin (BTC) traders.\nOpen interest in Binance's SHIB futures has more than doubled to $101.65 million this month, hitting the highest since Feb. 5, according todata source Coinglass. SHIB futures are sized at 1,000 SHIB per contract with up to 25 times leverage.\nSHIB's market value has jumped nearly 32% to $6.58 billionamid optimismthat an impending layer-2 launch will help the cryptocurrency shed its meme-coin tag.\nAn increase in open interest alongside a rise in market capitalization suggests an influx of new money in the SHIB market. This scenario has historically presaged weakness in bitcoin, the leading cryptocurrency by market value.\nSHIB's open interest has risen above the $100 million mark at least seven times since its inception. The previous six spikes marked local bitcoin price tops.\nThe pattern is consistent with traditional markets where outsized gains in meme stocks relative to defensive playsare seen asa contrary indicator for the broader market. Bitcoin, the leading cryptocurrency by market value, has traded dead flat near $30,000 this month amid the SHIB rally, CoinDesk data show.\nPast performance, however, is not a guarantee of future results and someanalysts expectbitcoin to resume the uptrend.", "Investors are again pouring money into meme-focused cryptocurrency Shiba Inu (SHIB) in a sign of caution for bitcoin (BTC) traders.\nOpen interest in Binance's SHIB futures has more than doubled to $101.65 million this month, hitting the highest since Feb. 5, according todata source Coinglass. SHIB futures are sized at 1,000 SHIB per contract with up to 25 times leverage.\nSHIB's market value has jumped nearly 32% to $6.58 billionamid optimismthat an impending layer-2 launch will help the cryptocurrency shed its meme-coin tag.\nAn increase in open interest alongside a rise in market capitalization suggests an influx of new money in the SHIB market. This scenario has historically presaged weakness in bitcoin, the leading cryptocurrency by market value.\nSHIB's open interest has risen above the $100 million mark at least seven times since its inception. The previous six spikes marked local bitcoin price tops.\nThe pattern is consistent with traditional markets where outsized gains in meme stocks relative to defensive playsare seen asa contrary indicator for the broader market. Bitcoin, the leading cryptocurrency by market value, has traded dead flat near $30,000 this month amid the SHIB rally, CoinDesk data show.\nPast performance, however, is not a guarantee of future results and someanalysts expectbitcoin to resume the uptrend."]...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-12
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $572,431,782,600
- Hash Rate: 434931398.7742153
- Transaction Count: 503934.0
- Unique Addresses: 703004.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.54
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Investors would have benefited more from buying and holding bitcoin ( BTC ) than from investing in crypto hedge funds during the first half of 2023, according to a research report from Swiss-based crypto investment adviser 21e6 Capital. Crypto funds returned an average of 15% during the period versus an 83% gain for bitcoin, according to 21e6 Capital data provided to Bloomberg . Funds with directional strategies returned an average of 22%, well below bitcoin but above the 6.8% return on market-neutral strategies that often attempt to follow market trends, a difficult proposition in choppy markets. The funds struggled against the sudden closure of multibillion-dollar crypto exchange FTX in November , the closure of three crypto-friendly banks earlier this year and the continued turbulence around potential regulations. “It is plain to see that a simple buy-and-hold investment into bitcoin would have outperformed all of these fund baskets. Bitcoin added about 80% in value by the half of the year,” 21e6 Capital due diligence manager Jan Spörer and sales and marketing head Maximilian Bruckner wrote in the report. “In previous bull runs, crypto hedge funds were frequently able to significantly outperform the bitcoin benchmark. How can underperformance among professionally managed crypto funds be such a widespread phenomenon?” The complex answer involves the fact that crypto hedge funds went into the year with larger-than-typical cash positions to help mitigate risks after the collapse of FTX, which made reaction times slower. The underperformance of altcoins — or cryptocurrencies not named bitcoin or ether ( ETH ) — also took a toll on hedge funds. 21e6 Capital tracks more than 700 crypto funds globally as well as the regulatory performance reports of 123 funds across 70 firms. The underperformance has led to the closure of about 97, or 13%, of those crypto hedge funds, according to the Bloomberg data. One example is crypto investment firm Galois Capital, which announced its closure in February because of its heavy exposure to FTX. Other hedge funds shut down underperforming funds....
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['SAN SALVADOR, El Salvador (AP) — Douglas Guzmán\'s TikTok feed was dotted with workout routines and videos showcasing his favorite parts of his country.\nThat changed about a year ago, as rights groups, civil society and even some officialscriticized El Salvador\'s President Nayib Bukeleforviolating human rightsin his crackdown on criminal gangs, and said that his unconstitutional bid for re-election would corrode the country’s democracy.\nWithin days of Bukele announcing his bid for a second five-year term, Guzmán’s feed wasplastered with videosdescribing Bukele as the “future liberator of Latin America” and slick montages of the leader’s “mega-prison” for accused gangsters.\nViews on the social media influencer’s videos skyrocketed. The 39-year-old member of Bukele\'s party said he found a new mission: counteracting negative press from independent media about hispopulist president.\n“(Journalists) don’t know anything. All they do is sit at their desks and watch as President Bukele … makes a massive effort to save thousands of lives. But they don’t see that because they’ve never cared about the lives of Salvadorans,” Guzmán said. “That’s why we’re here. To show the true reality.”\nGuzmán is part of an expanding network of social media personalities acting as a megaphone for the millennial leader. At the same time Bukele has cracked down on the press, his government has embraced those influencers. As the president seeks tohold onto power, he has harnessed that flood of pro-Bukele content slowly turning his Central American nation into an informational echo chamber.\n“A news organization doing an investigation can’t compare to the sounding board that these influencers have because they flood your social media with the government’s narrative,” said Roberto Dubon, a communications strategist and congressional candidate for Bukele’s former party, FMLN. “What you have is an apparatus to spread their propaganda.”\nBukele, a 42-year-old leader often donning a backwards baseball cap, worked years in political advertising before social media became a key to hisrise to powerfive years ago. Since, his approval ratings have soared to 90%, according to a June CID Gallup poll. Bukele\'s modern political messaging, charisma and brutal crackdown on the country\'s gangs only continue towin him fansdomestically and abroad even in the midst of controversy.\nBy doing so, Bukele is using a playbook increasingly utilized by 21st century autocrats, said Seva Gunitsky, a political scientist at the University of Toronto.\nSocial media was once hailed as the ultimate democratictool to organize protests, even revolutions, across the world. Now, governments fromRussiatoUgandaare now using it to control the narrative.\n“They use this tool of liberation technology to actually prolong and strengthen their rule,” Gunitsky said. Such governments use influencers because their content “doesn’t look as much like propaganda and is more about shaping the narrative in more subtle ways.”\nUnder Bukele, El Salvador constructed a sophisticated communications machine. It locked down access to information out of line with official messaging and hired teams of former journalists to produce blockbuster-quality videosshowcasing security forcestaking on the nation’s gangs. The government also mimicked Russia,building an armyof tech-savvy contractors – or “trolls” – to create fake social media accounts, spread falsities and harass critics.\nAt the same time his message of a strong-handed response to gang violence rippled across the region, gaining traction in other nations struggling with crime across Latin America and Caribbean.\nWith it, an “entire industry” has been born as influencers latch onto the president\'s image, said Oscar Picardo, director of investigations at El Salvador’s Universidad Francisco Gavidia.\nA study by Picardo\'s university and local investigative outlet Factum examined 69 pro-Bukele YouTube accounts, which collectively have more followers than the population of El Salvador. They found many accounts – which make money through view and subscriber counts – can earn up to tens of thousands of dollars a month, far greater than El Salvador\'s average salary. That content is devoured both within El Salvador, and by many of the 2.3 million Salvadorans living in the United States.\nThe cluster of accounts pumped out nearly 32 hours of pro-Bukele content in a single day in May, the study found. Almost always mirroring government language, 90% of the videos analyzed contained false or misleading information.\nOne account,Noticias Cuscatlecas, may earn much as $400,000 annually posting videos of violent attacks from alleged gang members layered over chilling music, UFG and Factum calculated.\nThe channel often concludes videos with the samemessage: “(Bukele) devised a plan to exterminate this cancer from society, and the incredible thing is that he is succeeding. Now the people no longer live in fear."\nOn TikTok, one videodeclares“God chose Bukele as president of El Salvador.” On YouTube, personalities dressed as TV anchors attack human rights groups and journalists. They feature Bukele’s criticsbursting into flameswhileclaimingtheir channel “brings you the latest news”. Others sit down for an exclusiveinterviewwith the president.\nIn April, the president of El Salvador\'s congress Ernesto Castro announced he was opening the assembly to YouTubers and social media influencers to “inform with objectivity.”\n“The right to inform and be informed is a power not just in the hands of media companies,” Castrowroteon Twitter.\nRequests by the AP for interviews with Bukele and his cabinet throughout his more than four years in office have been declined or ignored. Two people with knowledge of the inner workings of Bukele’s media machine declined to speak to the AP out of fear of the government.\nFor Guzmán and others, the access was empowering, enabling them to grow their audiences. Since, Guzmán has been offered access to other large events like the inauguration of Central American and Caribbean Games, something experts say Bukele used toshow a friendly faceto the world.\nPress credentials hung around the TikToker\'s neck and he brimmed with pride in a government press box, standing among other selfie stick-wielding influencers.\n“Us being here, accredited, I feel like I am a part of this,” Guzmán said, eyes crinkling with a broad smile.\nAround him, others took turns interviewing each other and bragged about how many people were connected to their feeds. One man wearing a Hawaiian shirt leapt over rows of bleachers to get a better signal. When Bukele walked on stage to give a speech, Guzmán and others chanted “Re-election!”\nEl Salvador\'s government isnot the first to open its doorsto social media personalities, but researchers and critics says the atmosphere created in El Salvador marks a particular risk as other leaders in the region seek tomimicBukele.\nPicardo, the UFG investigator, said such accounts post a deluge of content when the government is trying to publicize something, like the leader\'sexperimentwith Bitcoin, its gang crackdown or the Games.\nThe researcher warned their increasingly hostile tone acts as a harbinger for further deteriorating press freedoms, echoing State Department alarms of a “villainization” of journalists by Bukele.\nOscar Martínez\'s award-winning news organization El Faro is among those facing attacks and harassment for its intensive investigation of Bukele, including audio evidencing that Bukele’sadministration negotiated with gangsin order to dip violence.\nThe government opened a case against El Faro for tax evasion, something the news site called “completely baseless.” Phones of dozens of journalists werehackedwith Pegasus spyware, regularly used by governments to spy on opponents.\nIn April, El Faro announced it would move its center of operations to Costa Rica due to escalating harassment.\nHe worries their investigations is being drowned out by the flood of disinformation, and said if Bukele stays in power in the upcoming elections, it will put reporters in El Salvador “much more at risk.”\n“At that moment, Bukele is going to decide to get rid of any obstacle he has within the country, and the main obstacle he has right now is the free press," Martínez said.', 'SAN SALVADOR, El Salvador (AP) — Douglas Guzmán\'s TikTok feed was dotted with workout routines and videos showcasing his favorite parts of his country. That changed about a year ago, as rights groups, civil society and even some officials criticized El Salvador\'s President Nayib Bukele for violating human rights in his crackdown on criminal gangs, and said that his unconstitutional bid for re-election would corrode the country’s democracy. Within days of Bukele announcing his bid for a second five-year term, Guzmán’s feed was plastered with videos describing Bukele as the “future liberator of Latin America” and slick montages of the leader’s “mega-prison” for accused gangsters. Views on the social media influencer’s videos skyrocketed. The 39-year-old member of Bukele\'s party said he found a new mission: counteracting negative press from independent media about his populist president . “(Journalists) don’t know anything. All they do is sit at their desks and watch as President Bukele … makes a massive effort to save thousands of lives. But they don’t see that because they’ve never cared about the lives of Salvadorans,” Guzmán said. “That’s why we’re here. To show the true reality.” Guzmán is part of an expanding network of social media personalities acting as a megaphone for the millennial leader. At the same time Bukele has cracked down on the press, his government has embraced those influencers. As the president seeks to hold onto power , he has harnessed that flood of pro-Bukele content slowly turning his Central American nation into an informational echo chamber. “A news organization doing an investigation can’t compare to the sounding board that these influencers have because they flood your social media with the government’s narrative,” said Roberto Dubon, a communications strategist and congressional candidate for Bukele’s former party, FMLN. “What you have is an apparatus to spread their propaganda.” Bukele, a 42-year-old leader often donning a backwards baseball cap, worked years in political advertising before social media became a key to his rise to power five years ago. Since, his approval ratings have soared to 90%, according to a June CID Gallup poll. Bukele\'s modern political messaging, charisma and brutal crackdown on the country\'s gangs only continue to win him fans domestically and abroad even in the midst of controversy. Story continues By doing so, Bukele is using a playbook increasingly utilized by 21st century autocrats, said Seva Gunitsky, a political scientist at the University of Toronto. Social media was once hailed as the ultimate democratic tool to organize protests, even revolutions , across the world. Now, governments from Russia to Uganda are now using it to control the narrative. “They use this tool of liberation technology to actually prolong and strengthen their rule,” Gunitsky said. Such governments use influencers because their content “doesn’t look as much like propaganda and is more about shaping the narrative in more subtle ways.” Under Bukele, El Salvador constructed a sophisticated communications machine. It locked down access to information out of line with official messaging and hired teams of former journalists to produce blockbuster-quality videos showcasing security forces taking on the nation’s gangs. The government also mimicked Russia, building an army of tech-savvy contractors – or “trolls” – to create fake social media accounts, spread falsities and harass critics. At the same time his message of a strong-handed response to gang violence rippled across the region, gaining traction in other nations struggling with crime across Latin America and Caribbean. With it, an “entire industry” has been born as influencers latch onto the president\'s image, said Oscar Picardo, director of investigations at El Salvador’s Universidad Francisco Gavidia. A study by Picardo\'s university and local investigative outlet Factum examined 69 pro-Bukele YouTube accounts, which collectively have more followers than the population of El Salvador. They found many accounts – which make money through view and subscriber counts – can earn up to tens of thousands of dollars a month, far greater than El Salvador\'s average salary. That content is devoured both within El Salvador, and by many of the 2.3 million Salvadorans living in the United States. The cluster of accounts pumped out nearly 32 hours of pro-Bukele content in a single day in May, the study found. Almost always mirroring government language, 90% of the videos analyzed contained false or misleading information. One account, Noticias Cuscatlecas , may earn much as $400,000 annually posting videos of violent attacks from alleged gang members layered over chilling music, UFG and Factum calculated. The channel often concludes videos with the same message : “(Bukele) devised a plan to exterminate this cancer from society, and the incredible thing is that he is succeeding. Now the people no longer live in fear." On TikTok, one video declares “God chose Bukele as president of El Salvador.” On YouTube, personalities dressed as TV anchors attack human rights groups and journalists. They feature Bukele’s critics bursting into flames while claiming their channel “brings you the latest news”. Others sit down for an exclusive interview with the president. In April, the president of El Salvador\'s congress Ernesto Castro announced he was opening the assembly to YouTubers and social media influencers to “inform with objectivity.” “The right to inform and be informed is a power not just in the hands of media companies,” Castro wrote on Twitter. Requests by the AP for interviews with Bukele and his cabinet throughout his more than four years in office have been declined or ignored. Two people with knowledge of the inner workings of Bukele’s media machine declined to speak to the AP out of fear of the government. For Guzmán and others, the access was empowering, enabling them to grow their audiences. Since, Guzmán has been offered access to other large events like the inauguration of Central American and Caribbean Games, something experts say Bukele used to show a friendly face to the world. Press credentials hung around the TikToker\'s neck and he brimmed with pride in a government press box, standing among other selfie stick-wielding influencers. “Us being here, accredited, I feel like I am a part of this,” Guzmán said, eyes crinkling with a broad smile. Around him, others took turns interviewing each other and bragged about how many people were connected to their feeds. One man wearing a Hawaiian shirt leapt over rows of bleachers to get a better signal. When Bukele walked on stage to give a speech, Guzmán and others chanted “Re-election!” El Salvador\'s government is not the first to open its doors to social media personalities, but researchers and critics says the atmosphere created in El Salvador marks a particular risk as other leaders in the region seek to mimic Bukele. Picardo, the UFG investigator, said such accounts post a deluge of content when the government is trying to publicize something, like the leader\'s experiment with Bitcoin, its gang crackdown or the Games. The researcher warned their increasingly hostile tone acts as a harbinger for further deteriorating press freedoms, echoing State Department alarms of a “villainization” of journalists by Bukele. Oscar Martínez\'s award-winning news organization El Faro is among those facing attacks and harassment for its intensive investigation of Bukele, including audio evidencing that Bukele’s administration negotiated with gangs in order to dip violence. The government opened a case against El Faro for tax evasion, something the news site called “ completely baseless .” Phones of dozens of journalists were hacked with Pegasus spyware, regularly used by governments to spy on opponents. In April, El Faro announced it would move its center of operations to Costa Rica due to escalating harassment. He worries their investigations is being drowned out by the flood of disinformation, and said if Bukele stays in power in the upcoming elections, it will put reporters in El Salvador “much more at risk.” “At that moment, Bukele is going to decide to get rid of any obstacle he has within the country, and the main obstacle he has right now is the free press," Martínez said.', 'Good morning. Here’s what’s happening: Prices: Bitcoin was holding steady just below $30,000. Insights: The sad saga of Sam Bankman-Fried continues with a judge on Friday revoking the former FTX CEO\'s bail. CoinDesk columnist David Morris explained why the decision was almost inevitable. Update: Judge Lewis Kaplan has now revoked Sam Bankman-Fried\'s bail and returned him to jail. Prices CoinDesk Market Index (CMI) 1,226 −0.1 ▼ 0.0% Bitcoin (BTC) $29,347 −59.3 ▼ 0.2% Ethereum (ETH) $1,847 −1.3 ▼ 0.1% S&P 500 4,464.05 −4.8 ▼ 0.1% Gold $1,946 +31.3 ▲ 1.6% Nikkei 225 32,473.65 +269.3 ▲ 0.8% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) CoinDesk Market Index (CMI) 1,226 −0.1 ▼ 0.0% Bitcoin (BTC) $29,347 −59.3 ▼ 0.2% Ethereum (ETH) $1,847 −1.3 ▼ 0.1% S&P 500 4,464.05 −4.8 ▼ 0.1% Gold $1,946 +31.3 ▲ 1.6% Nikkei 225 32,473.65 +269.3 ▲ 0.8% BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Bitcoin ( BTC ) was holding steady just below $30,000. "The price stability is a positive sign, indicating consolidation around these levels that can potentially support another leg up," Joe DiPasquale, CEO of the crypto hedge fund BitBull Capital, told CoinDesk in an email on Sunday. DiPasquale said was still digesting last week\'s announcement by PayPal of its own new stablecoin linked to the U.S. dollar . "This is a major set forward since it’s the first issuance of its kind by a traditional, global payments service with hundreds of millions of users," DiPasquale said. "We believe such developments are likely to shape the market behavior moving forward, even if the general response is relatively muted at this point." Insights Sam Bankman-Fried\'s Almost Unavoidable Return to Jail This story by CoinDesk columnist David Morris was published shortly before Judge Lewis Kaplan revoked Sam Bankman-Fried\'s bail and returned him to jail. Story continues Sam Bankman-Fried spent 2021 and much of 2022 talking himself into the role of a cryptocurrency mogul. A court hearing today will decide whether he has now talked himself from cushy house arrest back into a concrete and steel jail cell. Latest News: FTX Founder Sam Bankman-Fried Jailed Ahead of Trial The immediate trigger for today’s hearing in the courtroom of District Judge Lewis A. Kaplan was Bankman-Fried’s sharing of the private diary of Caroline Ellison, who Bankman-Fried installed as nominal CEO of FTX and later allegedly ordered to engage in fraud . Prosecutors claim the goal of the leak was to discredit or intimidate Ellison ahead of the trial, when she is expected to testify as a cooperating witness. But this is merely the straw that broke the camel’s back: Sam Bankman-Fried has been using deceptive public arguments and back-door private communications to manipulate his trial since the moment of FTX’s collapse . He gave seemingly innumerable interviews and public appearances in the weeks before his arrest. During his house arrest, he has continued to give interviews proclaiming his innocence, though lower-profile. Well before releasing Ellison’s diary, he also allegedly reached out to many of those expected to testify against him. Find the full story here: Sam Bankman-Fried Could Go Back to Jail Thanks to His Big Fat Mouth Important events. 2 p.m. HKT/SGT(6 a.m. UTC): Germany wholesale price index (July/MoM/YoY) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Greed and Fear Index Signals Bull Revival in Bitcoin; Could FTX\'s Sam Bankman-Fried Go to Jail FTX founder Sam Bankman-Fried was slated to attend a court hearing today. Matrixport\'s Bitcoin Greed and Fear Index, which has a solid track record of marking trend reversals, is signaling a bull revival in bitcoin. Innovating Capital general partner Anthony Georgiades shared his crypto markets outlook. Bakkt CEO Gavin Michael discussed the crypto trading firm\'s latest quarterly results. Smart Token Labs chief strategy officer Mathew Sweezey also joins the conversation. Headlines A Bitcoin Warning Signal Blares From Surging Interest in Shiba Inu: Open interest or the dollar amount locked in open SHIB futures contracts has topped $100 million for the first time since February. Sam Bankman-Fried Jailed Ahead of Trial: Bankman-Fried was accused of leaking former Alameda Research CEO Caroline Ellison\'s diary to the New York Times. Cathie Wood\'s Ark 21Shares Bitcoin ETF Application Decision Pushed Out by SEC: The regulator is reviewing more than a dozen spot bitcoin and ether future ETF applications.', 'Good morning. Here’s what’s happening:\nPrices:Bitcoin was holding steady just below $30,000.\nInsights:The sad saga of Sam Bankman-Fried continues with a judge on Friday revoking the former FTX CEO\'s bail. CoinDesk columnist David Morris explained why the decision was almost inevitable.\nUpdate: Judge Lewis Kaplan has nowrevoked Sam Bankman-Fried\'s bailand returned him to jail.\nCoinDesk Market Index (CMI)\n1,226\n−0.1▼0.0%\nBitcoin (BTC)\n$29,347\n−59.3▼0.2%\nEthereum (ETH)\n$1,847\n−1.3▼0.1%\nS&P 500\n4,464.05\n−4.8▼0.1%\nGold\n$1,946\n+31.3▲1.6%\nNikkei 225\n32,473.65\n+269.3▲0.8%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,226", "\\u22120.1\\u25bc0.0%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,347", "\\u221259.3\\u25bc0.2%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,847", "\\u22121.3\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,464.05", "\\u22124.8\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,946", "+31.3\\u25b21.6%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,473.65", "+269.3\\u25b20.8%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBitcoin (BTC) was holding steady just below $30,000.\n"The price stability is a positive sign, indicating consolidation around these levels that can potentially support another leg up," Joe DiPasquale, CEO of the crypto hedge fund BitBull Capital, told CoinDesk in an email on Sunday.\nDiPasquale said was still digesting last week\'s announcement by PayPal of its ownnew stablecoin linked to the U.S. dollar.\n"This is a major set forward since it’s the first issuance of its kind by a traditional, global payments service with hundreds of millions of users," DiPasquale said. "We believe such developments are likely to shape the market behavior moving forward, even if the general response is relatively muted at this point."\nSam Bankman-Fried\'s Almost Unavoidable Return to Jail\nThis story by CoinDesk columnist David Morris was published shortly before Judge Lewis Kaplan revoked Sam Bankman-Fried\'s bail and returned him to jail.\nSam Bankman-Fried spent 2021 and much of 2022 talking himself into the role of a cryptocurrency mogul. A court hearing today will decide whether he has now talked himself from cushy house arrest back into a concrete and steel jail cell.\nLatest News:FTX Founder Sam Bankman-Fried Jailed Ahead of Trial\nThe immediate trigger for today’s hearing in the courtroom of District Judge Lewis A. Kaplan was Bankman-Fried’ssharing of the private diaryof Caroline Ellison, who Bankman-Fried installed as nominal CEO of FTX and later allegedlyordered to engage in fraud. Prosecutors claim the goal of the leak was to discredit or intimidate Ellison ahead of the trial, when she is expected to testify as a cooperating witness.\nBut this is merely the straw that broke the camel’s back: Sam Bankman-Fried has been using deceptive public arguments and back-door private communications to manipulate his trialsince the moment of FTX’s collapse.\nHe gave seemingly innumerable interviews and public appearances in the weeks before his arrest. During his house arrest, he has continued to give interviews proclaiming his innocence, though lower-profile. Well before releasing Ellison’s diary, he also allegedly reached out to many of those expected to testify against him.\nFind the full story here:Sam Bankman-Fried Could Go Back to Jail Thanks to His Big Fat Mouth\n2 p.m. HKT/SGT(6 a.m. UTC):Germany wholesale price index (July/MoM/YoY)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nGreed and Fear Index Signals Bull Revival in Bitcoin; Could FTX\'s Sam Bankman-Fried Go to Jail\nFTX founder Sam Bankman-Fried was slated to attend a court hearing today. Matrixport\'s Bitcoin Greed and Fear Index, which has a solid track record of marking trend reversals, is signaling a bull revival in bitcoin. Innovating Capital general partner Anthony Georgiades shared his crypto markets outlook. Bakkt CEO Gavin Michael discussed the crypto trading firm\'s latest quarterly results. Smart Token Labs chief strategy officer Mathew Sweezey also joins the conversation.\nA Bitcoin Warning Signal Blares From Surging Interest in Shiba Inu:Open interest or the dollar amount locked in open SHIB futures contracts has topped $100 million for the first time since February.\nSam Bankman-Fried Jailed Ahead of Trial:Bankman-Fried was accused of leaking former Alameda Research CEO Caroline Ellison\'s diary to the New York Times.\nCathie Wood\'s Ark 21Shares Bitcoin ETF Application Decision Pushed Out by SEC:The regulator is reviewing more than a dozen spot bitcoin and ether future ETF applications.', 'Good morning. Here’s what’s happening:\nPrices:Bitcoin was holding steady just below $30,000.\nInsights:The sad saga of Sam Bankman-Fried continues with a judge on Friday revoking the former FTX CEO\'s bail. CoinDesk columnist David Morris explained why the decision was almost inevitable.\nUpdate: Judge Lewis Kaplan has nowrevoked Sam Bankman-Fried\'s bailand returned him to jail.\nCoinDesk Market Index (CMI)\n1,226\n−0.1▼0.0%\nBitcoin (BTC)\n$29,347\n−59.3▼0.2%\nEthereum (ETH)\n$1,847\n−1.3▼0.1%\nS&P 500\n4,464.05\n−4.8▼0.1%\nGold\n$1,946\n+31.3▲1.6%\nNikkei 225\n32,473.65\n+269.3▲0.8%\nBTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)\n[["1,226", "\\u22120.1\\u25bc0.0%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,347", "\\u221259.3\\u25bc0.2%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,847", "\\u22121.3\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,464.05", "\\u22124.8\\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,946", "+31.3\\u25b21.6%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,473.65", "+269.3\\u25b20.8%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]\nBitcoin (BTC) was holding steady just below $30,000.\n"The price stability is a positive sign, indicating consolidation around these levels that can potentially support another leg up," Joe DiPasquale, CEO of the crypto hedge fund BitBull Capital, told CoinDesk in an email on Sunday.\nDiPasquale said was still digesting last week\'s announcement by PayPal of its ownnew stablecoin linked to the U.S. dollar.\n"This is a major set forward since it’s the first issuance of its kind by a traditional, global payments service with hundreds of millions of users," DiPasquale said. "We believe such developments are likely to shape the market behavior moving forward, even if the general response is relatively muted at this point."\nSam Bankman-Fried\'s Almost Unavoidable Return to Jail\nThis story by CoinDesk columnist David Morris was published shortly before Judge Lewis Kaplan revoked Sam Bankman-Fried\'s bail and returned him to jail.\nSam Bankman-Fried spent 2021 and much of 2022 talking himself into the role of a cryptocurrency mogul. A court hearing today will decide whether he has now talked himself from cushy house arrest back into a concrete and steel jail cell.\nLatest News:FTX Founder Sam Bankman-Fried Jailed Ahead of Trial\nThe immediate trigger for today’s hearing in the courtroom of District Judge Lewis A. Kaplan was Bankman-Fried’ssharing of the private diaryof Caroline Ellison, who Bankman-Fried installed as nominal CEO of FTX and later allegedlyordered to engage in fraud. Prosecutors claim the goal of the leak was to discredit or intimidate Ellison ahead of the trial, when she is expected to testify as a cooperating witness.\nBut this is merely the straw that broke the camel’s back: Sam Bankman-Fried has been using deceptive public arguments and back-door private communications to manipulate his trialsince the moment of FTX’s collapse.\nHe gave seemingly innumerable interviews and public appearances in the weeks before his arrest. During his house arrest, he has continued to give interviews proclaiming his innocence, though lower-profile. Well before releasing Ellison’s diary, he also allegedly reached out to many of those expected to testify against him.\nFind the full story here:Sam Bankman-Fried Could Go Back to Jail Thanks to His Big Fat Mouth\n2 p.m. HKT/SGT(6 a.m. UTC):Germany wholesale price index (July/MoM/YoY)\nIn case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:\nGreed and Fear Index Signals Bull Revival in Bitcoin; Could FTX\'s Sam Bankman-Fried Go to Jail\nFTX founder Sam Bankman-Fried was slated to attend a court hearing today. Matrixport\'s Bitcoin Greed and Fear Index, which has a solid track record of marking trend reversals, is signaling a bull revival in bitcoin. Innovating Capital general partner Anthony Georgiades shared his crypto markets outlook. Bakkt CEO Gavin Michael discussed the crypto trading firm\'s latest quarterly results. Smart Token Labs chief strategy officer Mathew Sweezey also joins the conversation.\nA Bitcoin Warning Signal Blares From Surging Interest in Shiba Inu:Open interest or the dollar amount locked in open SHIB futures contracts has topped $100 million for the first time since February.\nSam Bankman-Fried Jailed Ahead of Trial:Bankman-Fried was accused of leaking former Alameda Research CEO Caroline Ellison\'s diary to the New York Times.\nCathie Wood\'s Ark 21Shares Bitcoin ETF Application Decision Pushed Out by SEC:The regulator is reviewing more than a dozen spot bitcoin and ether future ETF applications.']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-13
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $571,640,041,362
- Hash Rate: 351591250.5061022
- Transaction Count: 497112.0
- Unique Addresses: 650366.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.54
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: This is David Z. Morris, filling in for Michael Casey to talk about so-called artificial intelligence, the threats it poses to the future – and how crypto could help mitigate them. As Michael would surely agree, there are no real days off in crypto. I was reminded myself when I recently spent a long weekend at the fantastic Readercon fiction convention. Inevitably, I missed some important crypto stories , but I also got some up-close insight into another looming novelty: the existential threat that automated large language models (LLMs) like GPT3 pose to the entire internet. You’re reading Money Reimagined , a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. Subscribe to get the full newsletter here . That might sound hyperbolic. But at Readercon, I met Neil Clarke, founder and editor of the top-tier science fiction magazine Clarkesworld , which along with other fiction publications has become a canary in the coal mine of A.I. run amok. The rise of ChatGPT has inundated these journals with a flood of fake GPT-generated story submissions, a plague so severe Clarkesworld was forced to temporarily pause submissions this February, threatening the work and livelihoods of real authors. “I’ve been calling it spam,” says Clarke, “Because that’s what it is. I sometimes refuse to even call it ‘artificial intelligence.’ You can’t humanize these things. It’s not like the science fiction of movies where it’s aware. It’s a statistical [language] model.” The mention of spam should raise the antenna of longtime cryptocurrency watchers: the same problem lay at the very origins of Bitcoin. Between 1998 and 2002, computer scientist Adam Back developed the concept of “Hashcash,” primarily intended to combat e-mail spam by requiring a tiny payment to send one. Back and his ideas became foundational to the development of Bitcoin, and he’s now CEO of crypto developer Blockstream. Two decades later, with robotic barbarian hordes poised to swamp human communication systems, it might be time to revisit the Hashcash concept. Large Language Hustlers “ChatGPT came out in late November,” Clarke says, “And we immediately started seeing submissions using it. The first people to adopt it were the ones already submitting plagiarized works. It was readily embraced by people who were trying to make a quick buck off other people’s work.” As they faced down the spam problem, Clarke says he and his team quickly realized the attack was coordinated. YouTube and TikTok channels focused on get-rich-quick schemes were promising viewers they could make thousands of dollars by submitting GPT-generated stories to fiction magazines like Clarkesworld. Clarkesworld pays a few hundred dollars per story, depending on length – not much more than beer money in some parts of the world, but extremely meaningful in others. Story continues Those fraudulent promises from online grifters seem to have spread fast. Clarke says he received 54 AI-generated submissions in December. In January, he got 117 fake stories. In February, the number hit 514 before Clarke closed submissions midday on February 20. “And that morning alone,” he says, “we had 50.” Clarkesworld has a small staff, who normally review about 1,100 submissions a month. So the accelerating flood of trash threatened to overwhelm them, and solutions weren’t obvious. “We have an open submission process, specifically designed to welcome in new writers and new voices,” says Clarke. “So we could close submissions from certain locations [to fight spam], but we also have legitimate authors coming in from those countries. And we’ve been told things like, ‘The payment for this story will cover my bills for a month.’” “Authors like that are getting buried. The A.I. submissions hurt new authors, and authors who might not be from communities that are well-connected.” This is one clear way auto-generated content threatens to make the internet worse for human beings – particularly those at the margins. “If you go back 15 or 20 years when we took submissions on paper,” Clarke says, “just the cost of postage was enough to decrease submissions from outside the U.S., Canada, and U.K. substantially. And as soon as you have digital submissions, we had this flood of international submissions.” That has led to a huge diversification of the fiction world – a creative renaissance that’s now threatened by the rise of LLMs. Clarke is also a coder, which gave him useful tools for addressing the spam challenge. He began associating more metadata with submissions, such as whether they came through a VPN and the length of the user’s session. These and other criteria are now used as part of a “points system” that places stories more likely to be fake further down a review queue. This helps real authors get read first, but also ensures that every submission is eventually reviewed. Finally, if a story is determined to be LLM-generated, the submitter is permanently banned from the system. Those measures have helped Clarkesworld reopen submissions, for now – but a continued rise in the volume of spam they’re dealing with would mean the solution is only temporary. “Worse than the Worst Human Writer” One important aspect of Clarke’s experience is that the actual quality of the robotic submissions has been abysmally low. They’re almost instantly recognizable to a human reader, and have no actual chance of being published. “ChatGPT3 was writing at a level below the worst human writers,” says Clarke, who after two decades as an editor knows exactly what the worst looks like. “GPT4 is getting closer to the worst human writers, but even that’s still rare.” “The common thing is that they have perfect grammar, they have perfect spelling,” Clarke continues. “But the stories themselves don’t make a lot of sense. They jump over important things. They’ll start out with a basic premise, like ecological collapse, and introduce some scientists who can solve the problem, and then suddenly they’ve solved the problem. It’s missing the middle of the story, and bookending it with stereotypical openings and closings, done very poorly.” That sounds a lot like Ted Chiang’s recent characterization of ChatGPT’s output as “a blurry JPEG of the internet.” This manifest crappiness happily debunks much of the brain-dead hype around LLMs. But it also makes the image of talented (and wildly underpaid) editors being forced to sift through the dross all the more depressing. The Promise of Small, Refundable Fees Another option for reducing spam submissions is a submission fee. Clarke says he has no desire or plan to implement a fee, thanks to overriding ethical and creative concerns. In particular, a submission fee could limit access, which the community of science fiction writers strongly opposes. But beyond that, the technical shortcomings of current global payments infrastructure also make charging an anti-spam fee impractical, even if Clarke wanted to. For instance, Clarke says to charge a submission fee, he would need to be able to refund it, for instance to writers whose stories were accepted, or simply not AI-generated. An ideal spam-blocking fee would also be quite small – certainly far lower than the $25 or $30 worth of postage that was keeping away developing-world authors in the pre-internet era. But there’s no way to do that with current tech. “Tell me a credit card company where I can refund almost all of it. I’d lose the account,” says Clarke. As any good crypto bro knows, credit cards also don’t play well with small payments. But those aren’t even the biggest issue. “There are also problems with trying to take payments in different parts of the world,” Clarke continues. “There are a number of African countries that credit card companies won’t work with. So that would eliminate authors. I’ve also had people suggest identity services, but those also have nation-sized holes in them. We need something that works for everybody.” If you’re reading this, you already know where we’re headed: at least in principle, cryptocurrency and related systems could help mitigate Clarkesworld’s fake submission problem. Requiring a small payment for all submissions would reduce low-quality submissions, lightening editors’ workloads, and compensating them for the spam that did come in. Because payments could be cheaply, quickly, and easily returned to real authors, the cost to actual human writers would be marginal. And because these systems are not confined by national borders, no real writers would be crowded out by the robo-regurgitators. Though it would take considerable elaboration, some version of the same system may someday serve parallel purposes in less boutique settings. One can imagine a Steem-like system of staking incentives being used to punish automated posting on forums or social media, for instance. More elaborate decentralized identity systems, such as SpruceID , are more challenging and, for now, more nascent, but could have even more profound potential. To be clear, none of this should be necessary. LLMs are quickly being revealed as little more than parlor tricks, whose real utility is probably limited, at least in the near term, to short-form customer service and clickbait entertainment. (Take for instance CNET’s disastrous experiment with using GPT to write news articles). The technology’s biggest impacts are instead seen in the spread of fourth-rate gibberish that wastes the time and brainpower of all the actual humans involved. But if this is what the god-princes of Silicon Valley see as the next frontier of venture capital riches, then it is the world we’ll have to live in. At the very least, crypto offers one hope for fighting back. 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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin dipped slightly Monday morning in Asia, having hovered around the $29,380 level throughout the weekend. Ether and most other top 10 non-stablecoin cryptocurrencies by market capitalization were little changed. The exceptions were Dogecoin, which saw a significant dip, and Shiba Inu. The dog-themed memecoin surged ahead of its upcoming layer-2 network launch. Elsewhere, the Forkast 500 NFT index dropped after a week of green ink, while risk sentiment in U.S. equities improved as traders assess the latest inflation data. Investors now await a raft of earnings reports throughout the week.\nBitcoin dipped 0.10% in the last 24 hours to US$29,375.75 as of 5:45 a.m. in Hong Kong but added 0.96% for the week, according to CoinMarketCapdata. The world’s largest cryptocurrency hovered around the same price level throughout the weekend.\nEther was up 0.11% to US$1,849.50 for a weekly gain of 1.00%.\nAnalysts continue to predict a market upswing ahead of various U.S. application rulings for spot Bitcoin exchange traded funds (ETFs).\nIn June 2023,BlackRockand a number of major U.S. financial institutions filed applications with the U.S. Securities and Exchange Commission (SEC) to create spot Bitcoin ETFs. The SEC has previously rejected several spot Bitcoin ETF applications, citing concerns about market manipulation and volatility. However, the recent burst of applications has raised hopes that investors may soon see a spot Bitcoin ETF.\nThe SEC was expected to announce its decision onArk Investment’sSpot Bitcoin ETF application on Aug. 13. However, the regulator said in aFriday filingthat it will solicit public comment on the ETF proposal, effectively pushing back the deadline.\n“Although the chances of imminent ETF-related news are slim, any announcement would likely have a more pronounced effect on BTC than on ETH,” said Luuk Strijers, chief commercial officer of Panama-based crypto derivatives exchange Deribit.\n“We are observing a slight uptick in BTC, especially visible versus ETH. A potential catalyst for this could be the looming ETF news on the shorter term and the halvening impact on the longer run,” Strijers added.\nBitcoin’s next halving event is expected to take place in April 2024. The halving event will see the amount of new Bitcoin issuedcut in half, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price.\nOther top 10 non-stablecoin cryptocurrencies were largely static Monday morning, with the exception of memecoins Dogecoin and Shiba Inu.\nWhile Dogecoin dropped 2.11% to US$0.07524, slipping 0.25% in the last seven days, the Shiba Inu memecoin briefly cracked CoinMarketCap’s top 10 cryptocurrency list over the weekend. It pushed Polkadot’s DOT down to eleventh in terms of market capitalization. The meme token then fell 3.01% to US$0.00001042 over the past 24 hours, but still recorded an 11% gain for the week.\nThe developers behind Shiba Inu are expected to launch its layer-2 network, Shibarium, at an unspecified date in the near future. The update aims to provide self-sovereign identity (SSI) protocols for improved user security, according to aShiba Inublog post uploaded on Aug. 6.\nThe total crypto market capitalization grew 0.09% in the past 24 hours to US$1.17 trillion, while trading volume also increased 7.08% to US$17.82 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe main Forkast 500 NFT index fell 0.52% in the past 24 hours to 2,480.44 as of 06:45 a.m. in Hong Kong. However, it recorded a 0.95% gain for the week. Meanwhile, Forkast’s Ethereum NFT Index logged gains, while the indexes measuring the Polygon, Cardano and Solana NFTs showed losses.\nTotal NFT trading volume dropped 5.35% in the past 24 hours to over US$13.92 million, according to data fromCryptoSlam.\nSales volume on Ethereum, the largest NFT network, dipped 1.75% to US$8.63 million. Solana and Polygon, which placed second and third on Cryptoslam’s NFT blockchain ranking respectively, also logged losses.\nIn terms of NFT collections, trade volume of Ethereum-based DeGods surged 133.20% to US$1 million. That followed the launch of its “Season 3” digital art collection Sunday. The update features a more simplistic, pop-art inspired style.\n“I’m expecting [the trade volume] to ramp up quite a bit, honestly, I think the reception for the artwork has been rather great,” said Yehudah Petscher, NFT strategist for Forkast Labs, adding that the collection release had postponed scheduled updates for female avatars.\n“Let’s watch over the next couple of days, see how the community, the NFT collectors, take to this artwork and how they take to the delays,” he said.\nNFT staple Bored Ape Yacht Club added 2.90% to US$903,726, placing second on CryptoSlam’s collection ranking.\nMeanwhile, the FC Barcelona soccer clubannouncedlast Friday that it has secured around US$132 million from global investment holding company Libero Football Finance AG and European investment company Nipa Capital B.V. The investment will be used to expand the club’s NFT and metaverse initiatives, the announcement confirmed.\nU.S. stock futures fell as of 11:00 a.m. in Hong Kong on Monday morning after the three main indexes closed mixed on Friday. The main Asian equity indexes — \u200b\u200bChina’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi — all posted losses during Monday morning trading.\nGlobal markets continue to process China’s release last week of downward trending economic data. Consumer prices for July weredownon the year before, while July’s year-on-year export data alsofellmore sharply than expected. Investors now await China’s national retail sales and industrial output data — set for release Tuesday — for further indicators of potentialdeflation.\nAt a fundraiser in Utah Thursday, U.S. President Joe Biden appeared to fan the flames of Sino-U.S. tension by referring to China’s reported economic woes. The Chinese economy, hesaid, “is a ticking time bomb” and “in trouble.”\nIn the U.S, Friday’s release of the latest producer price index (PPI) data — a key inflation indicator that monitors selling prices received by domestic producers of goods and services — recorded a rise for July. The 0.3% rise is slightly higher than the 0.2%forecastby analysts.\nDespite that rise, the overall expectation is for the U.S. Federal Reserve to pause its cycle of interest rate hikes when it next meets in September. However, some market analysts continue to sound a note of caution, warning that hikes could continue until inflation slows to the Fed’s 2% target.\n“Unfortunately, I don’t think the picture on any of this will be clear for at least two quarters, though the fact that inflation has come down has bought the Fed some time, for now,” Jonathan Millar, a senior economist at London-based financial group Barclays Capital Inc.,toldBloomberg.\n“The Fed seems to be well ahead of markets in recognizing that the path to a soft landing is far from assured,” Miller added.\nThe Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at the CME FedWatch Tool predict a 88.5% chance there will be no interest rate hike in September, down from 89.0% last\xa0 Friday.\nInvestors now await more earnings reports expected later this week, including quarterly results from U.S. retail leaders including Walmart, Home Depot and Target.\n(Updates to add equities section)', "• Information security firm Distrust says a total of at least $900,000 was stolen across multiple blockchains.\n• Hackers were able to exploit a vulnerability in the Libbitcoin explorer, an open-source command line tool or text interface used by Bitcoin developers to produce cryptographic keys and communicate with the blockchain.\nIn 2011, just two years after Bitcoin was launched, British-Iranian anarchist developer Amir Taakia and a group of open-source coders created an alternative to Bitcoin Core – the original and still the most popular way of connecting to the Bitcoin network.\nThat alternative piece of software, branded Libbitcoin, has now evolved into a comprehensive suite of tools – a library – for critical functions like communicating with the Bitcoin blockchain and generating cryptographic keys.\nIt was even featured in Bitcoin educator Andreas Antonopoulos’s popular and arguably canonical bookMastering Bitcoin.\nBut after roughly $900,000 disappeared from various user wallets over the past few months, Libbitcoin, once presumed secure, has turned out to be unsafe.\nHere’s how the latest saga unfolded, according to a report onmilksad.info, which details the findings ofDistrust, the security firm that discovered the vulnerability in July, assisted by a group of independent contributors.\nAt some point in May, hackers began secretly stealing funds from unsuspecting users after discovering an obscure vulnerability in a number of wallets generated by the Libbitcoin explorer, calledBX.\nThe vulnerability was dubbed “Milk Sad” because “milk” and “sad” werethe first two wordsin a wallet-recovery seed phrase generated by the vulnerability, the report states.\nThe most significant heist – 29.65 bitcoin (BTC) worth about $870,000 at current rates – took place July 12. Distrust says a total of at least $900,000 was stolen across multiple blockchains, including from some of the roughly 2,600 bitcoin wallets affected by the vulnerability.\nHardware wallets like Trezor and Ledger seem to have been unscathed, but there are still a number of wallets at risk, and the full extent of money stolen is “yet to be determined,”accordingto an Aug. 8 tweet by Anton Livaja, a member of the Distrust team.\nBX comes with a text command called “bx seed” that uses the clock on a developer’s computer to produce a seed phrase for creating a wallet.\nCrypto software provides random combinations of 12 to 24 words or seed phrases to users who want to “recover” or regain access to their wallets in the case of accidental loss.\nBut when using BX, the resultant phrase turns out to be insufficiently random. According to the report, “a decent gaming PC can do a brute-force search,” or guess all possible word combinations for a user’s seed phrase, “in less than a day.”\n“Think of this as securing your online bank account with a password manager that creates a long random password,” the report states. “But it often creates the same passwords for every user. Malicious people have figured this out and drained funds on any account they can find.”\nMilk Sad is not restricted to Bitcoin. Ethereum, Zcash, Solana and even Dogecoin are among the list of eight blockchains affected. Similar but not identical vulnerabilities have been detected inCake WalletandTrust Wallet, both multi-chain wallet apps.\nTypically, seed phrases are created using a generator capable of producing a set or “key space” with a dizzying number of unique word combinations represented by the exponent of a binary digit or “bit” – essentially, the number two raised to the power of 128, 192 or 256.\nBX has a paltry 32-bit key space which can only yield about 4.3 billion unique word combinations. “That’s not as many combinations as it sounds,” according to the report.\nEric Voskuil, BX’s lead developer, admitted that the seed generator was indeed insecure, but insisted there was no bug in the software, arguing that the bx seed text command had been misused. He tweeted a screenshot of the application’s GitHub documentation that warns developers of the vulnerability.\n“This is not a bug in BX or Libbitcoin,” Voskuiltweeted. “It is reckless wallet development.”\nSeveral cryptographers in the Bitcoin community begged to differ.\n“The case is crystal-clear,”tweetedTim Ruffing, cryptographer at Bitcoin infrastructure firm Blockstream. “It's your bug, period.”", "• Information security firm Distrust says a total of at least $900,000 was stolen across multiple blockchains.\n• Hackers were able to exploit a vulnerability in the Libbitcoin explorer, an open-source command line tool or text interface used by Bitcoin developers to produce cryptographic keys and communicate with the blockchain.\nIn 2011, just two years after Bitcoin was launched, British-Iranian anarchist developer Amir Taakia and a group of open-source coders created an alternative to Bitcoin Core – the original and still the most popular way of connecting to the Bitcoin network.\nThat alternative piece of software, branded Libbitcoin, has now evolved into a comprehensive suite of tools – a library – for critical functions like communicating with the Bitcoin blockchain and generating cryptographic keys.\nIt was even featured in Bitcoin educator Andreas Antonopoulos’s popular and arguably canonical bookMastering Bitcoin.\nBut after roughly $900,000 disappeared from various user wallets over the past few months, Libbitcoin, once presumed secure, has turned out to be unsafe.\nHere’s how the latest saga unfolded, according to a report onmilksad.info, which details the findings ofDistrust, the security firm that discovered the vulnerability in July, assisted by a group of independent contributors.\nAt some point in May, hackers began secretly stealing funds from unsuspecting users after discovering an obscure vulnerability in a number of wallets generated by the Libbitcoin explorer, calledBX.\nThe vulnerability was dubbed “Milk Sad” because “milk” and “sad” werethe first two wordsin a wallet-recovery seed phrase generated by the vulnerability, the report states.\nThe most significant heist – 29.65 bitcoin (BTC) worth about $870,000 at current rates – took place July 12. Distrust says a total of at least $900,000 was stolen across multiple blockchains, including from some of the roughly 2,600 bitcoin wallets affected by the vulnerability.\nHardware wallets like Trezor and Ledger seem to have been unscathed, but there are still a number of wallets at risk, and the full extent of money stolen is “yet to be determined,”accordingto an Aug. 8 tweet by Anton Livaja, a member of the Distrust team.\nBX comes with a text command called “bx seed” that uses the clock on a developer’s computer to produce a seed phrase for creating a wallet.\nCrypto software provides random combinations of 12 to 24 words or seed phrases to users who want to “recover” or regain access to their wallets in the case of accidental loss.\nBut when using BX, the resultant phrase turns out to be insufficiently random. According to the report, “a decent gaming PC can do a brute-force search,” or guess all possible word combinations for a user’s seed phrase, “in less than a day.”\n“Think of this as securing your online bank account with a password manager that creates a long random password,” the report states. “But it often creates the same passwords for every user. Malicious people have figured this out and drained funds on any account they can find.”\nMilk Sad is not restricted to Bitcoin. Ethereum, Zcash, Solana and even Dogecoin are among the list of eight blockchains affected. Similar but not identical vulnerabilities have been detected inCake WalletandTrust Wallet, both multi-chain wallet apps.\nTypically, seed phrases are created using a generator capable of producing a set or “key space” with a dizzying number of unique word combinations represented by the exponent of a binary digit or “bit” – essentially, the number two raised to the power of 128, 192 or 256.\nBX has a paltry 32-bit key space which can only yield about 4.3 billion unique word combinations. “That’s not as many combinations as it sounds,” according to the report.\nEric Voskuil, BX’s lead developer, admitted that the seed generator was indeed insecure, but insisted there was no bug in the software, arguing that the bx seed text command had been misused. He tweeted a screenshot of the application’s GitHub documentation that warns developers of the vulnerability.\n“This is not a bug in BX or Libbitcoin,” Voskuiltweeted. “It is reckless wallet development.”\nSeveral cryptographers in the Bitcoin community begged to differ.\n“The case is crystal-clear,”tweetedTim Ruffing, cryptographer at Bitcoin infrastructure firm Blockstream. “It's your bug, period.”", "Information security firm Distrust says a total of at least $900,000 was stolen across multiple blockchains. Hackers were able to exploit a vulnerability in the Libbitcoin explorer, an open-source command line tool or text interface used by Bitcoin developers to produce cryptographic keys and communicate with the blockchain. In 2011, just two years after Bitcoin was launched, British-Iranian anarchist developer Amir Taakia and a group of open-source coders created an alternative to Bitcoin Core – the original and still the most popular way of connecting to the Bitcoin network. That alternative piece of software, branded Libbitcoin, has now evolved into a comprehensive suite of tools – a library – for critical functions like communicating with the Bitcoin blockchain and generating cryptographic keys. It was even featured in Bitcoin educator Andreas Antonopoulos’s popular and arguably canonical book Mastering Bitcoin . But after roughly $900,000 disappeared from various user wallets over the past few months, Libbitcoin, once presumed secure, has turned out to be unsafe. Here’s how the latest saga unfolded, according to a report on milksad.info , which details the findings of Distrust , the security firm that discovered the vulnerability in July, assisted by a group of independent contributors. At some point in May, hackers began secretly stealing funds from unsuspecting users after discovering an obscure vulnerability in a number of wallets generated by the Libbitcoin explorer, called BX . If you generated a wallet using Libbitcoin's Bitcoin Explorer, including as described in the appendix to Mastering Bitcoin, your funds are at risk (or already stolen). Full details: https://t.co/Crlw63lUr4 — David A. Harding (@hrdng) August 8, 2023 The vulnerability was dubbed “Milk Sad” because “milk” and “sad” were the first two words in a wallet-recovery seed phrase generated by the vulnerability, the report states. The most significant heist – 29.65 bitcoin ( BTC ) worth about $870,000 at current rates – took place July 12. Distrust says a total of at least $900,000 was stolen across multiple blockchains, including from some of the roughly 2,600 bitcoin wallets affected by the vulnerability. Hardware wallets like Trezor and Ledger seem to have been unscathed, but there are still a number of wallets at risk, and the full extent of money stolen is “yet to be determined,” according to an Aug. 8 tweet by Anton Livaja, a member of the Distrust team. Story continues BX comes with a text command called “bx seed” that uses the clock on a developer’s computer to produce a seed phrase for creating a wallet. Crypto software provides random combinations of 12 to 24 words or seed phrases to users who want to “recover” or regain access to their wallets in the case of accidental loss. But when using BX, the resultant phrase turns out to be insufficiently random. According to the report, “a decent gaming PC can do a brute-force search,” or guess all possible word combinations for a user’s seed phrase, “in less than a day.” “Think of this as securing your online bank account with a password manager that creates a long random password,” the report states. “But it often creates the same passwords for every user. Malicious people have figured this out and drained funds on any account they can find.” Ethereum, Zcash, Solana, Dogecoin affected Milk Sad is not restricted to Bitcoin. Ethereum, Zcash, Solana and even Dogecoin are among the list of eight blockchains affected. Similar but not identical vulnerabilities have been detected in Cake Wallet and Trust Wallet , both multi-chain wallet apps. Typically, seed phrases are created using a generator capable of producing a set or “key space” with a dizzying number of unique word combinations represented by the exponent of a binary digit or “bit” – essentially, the number two raised to the power of 128, 192 or 256. BX has a paltry 32-bit key space which can only yield about 4.3 billion unique word combinations. “That’s not as many combinations as it sounds,” according to the report. Eric Voskuil, BX’s lead developer, admitted that the seed generator was indeed insecure, but insisted there was no bug in the software, arguing that the bx seed text command had been misused. He tweeted a screenshot of the application’s GitHub documentation that warns developers of the vulnerability. I have been informed by the folks at https://t.co/Ja1L3PDloF that they have filed a CVE against Libbitcoin. Apparently a wallet product used a BX command in a manner explicitly warned against. This is not a bug in BX or Libbitcoin, it is reckless wallet development. pic.twitter.com/QGlCHB6XQX — Eric Voskuil (@evoskuil) August 7, 2023 “This is not a bug in BX or Libbitcoin,” Voskuil tweeted . “It is reckless wallet development.” Several cryptographers in the Bitcoin community begged to differ. “The case is crystal-clear,” tweeted Tim Ruffing, cryptographer at Bitcoin infrastructure firm Blockstream. “It's your bug, period.” View comments", "Ark Invest's Spot Bitcoin ETF Review Delayed\nThe United StatesSecurities and Exchange Commission(SEC) hasdelayed its decisionregarding the approval or disapproval of a spotBitcoinexchange-traded fund (ETF) filed by ARK Invest.\nThe delay occurs as the SEC started a 21-day public comment process for theARK 21Shares Bitcoin ETF. The regulator is currently debating whether to approve a spot Bitcoin ETF in the US.\nARK Investment Management submitted its ETF application in May, with the deadline for the SEC's final verdict being January 2024. The Cboe BZX Exchange requires proof of a surveillance-sharing arrangement with a regulated market with a sizable market size in order to launch an ETF.\nThe SEC previously rejected ARK's proposals for a Bitcoin ETF, citing doubts about their capacity to prevent fraud and protect investors.\nThe SEC made it clear that the requirement for a regulated market of significant size does not imply that the spot Bitcoin market itself must be regulated.\nCathie Wood, CEO of ARK Investment Management, anticipated a delay but suggested that the SEC may eventually approve numerous spot BTC ETFs concurrently.", "SEC Delays Ark Invest’s Spot Bitcoin ETF, Opens Proposal to Public for Comments Ark Invest's Spot Bitcoin ETF Review Delayed The United States Securities and Exchange Commission (SEC) has delayed its decision regarding the approval or disapproval of a spot Bitcoin exchange-traded fund (ETF) filed by ARK Invest. The delay occurs as the SEC started a 21-day public comment process for the ARK 21Shares Bitcoin ETF . The regulator is currently debating whether to approve a spot Bitcoin ETF in the US. ARK Investment Management submitted its ETF application in May, with the deadline for the SEC's final verdict being January 2024. The Cboe BZX Exchange requires proof of a surveillance-sharing arrangement with a regulated market with a sizable market size in order to launch an ETF. The SEC previously rejected ARK's proposals for a Bitcoin ETF, citing doubts about their capacity to prevent fraud and protect investors. The SEC made it clear that the requirement for a regulated market of significant size does not imply that the spot Bitcoin market itself must be regulated. Cathie Wood, CEO of ARK Investment Management, anticipated a delay but suggested that the SEC may eventually approve numerous spot BTC ETFs concurrently.", "Ark Invest's Spot Bitcoin ETF Review Delayed\nThe United StatesSecurities and Exchange Commission(SEC) hasdelayed its decisionregarding the approval or disapproval of a spotBitcoinexchange-traded fund (ETF) filed by ARK Invest.\nThe delay occurs as the SEC started a 21-day public comment process for theARK 21Shares Bitcoin ETF. The regulator is currently debating whether to approve a spot Bitcoin ETF in the US.\nARK Investment Management submitted its ETF application in May, with the deadline for the SEC's final verdict being January 2024. The Cboe BZX Exchange requires proof of a surveillance-sharing arrangement with a regulated market with a sizable market size in order to launch an ETF.\nThe SEC previously rejected ARK's proposals for a Bitcoin ETF, citing doubts about their capacity to prevent fraud and protect investors.\nThe SEC made it clear that the requirement for a regulated market of significant size does not imply that the spot Bitcoin market itself must be regulated.\nCathie Wood, CEO of ARK Investment Management, anticipated a delay but suggested that the SEC may eventually approve numerous spot BTC ETFs concurrently.", 'Cryptocurrencies have undergone a remarkable journey: evolving from a niche concept to now being seriously considered as an asset class, captivating the world with their potential for innovation and disruption. While the market\x92s volatility in the wake of industry-shaking events can undoubtedly be unnerving,\xa0 it\x92s imperative to recognize this as a characteristic common to markets in emerging technologies. We need only hark back to the dot-com bubble bursting to serve as a telling reminder that over the course of history, even in the face of temporary setbacks, the underlying potential and long-term value of truly revolutionary technologies is what has allowed them to prevail. This progress, coupled with the underlying benefits of blockchain technology and not speculation, has given rise to an undeniable upward trend in the value of the industry that will sow the seeds for its long-term prosperity. However, with this upward trajectory and increasing valuation comes a manifold increase in the risks threatening one\x92s crypto holdings. As the industry matures and an ever-increasing number of interested parties have entered the fray, we have seen increased scrutiny of many of the challenges present, one of them being safe storage for digital assets. The challenges of secure crypto storage Many of the people who engage with the crypto space do so to trade, presumably, in hopes of making a lofty return on their investments. This is especially true in developed economies. In emerging markets, the use case for a decentralized store of value is very real. Nevertheless, the most common entry point to crypto are exchanges, and as a result, there are a large number of individuals who keep their holdings living on exchanges, regardless of if they are engaged in regular day-to-day trading activities. These platforms, while undoubtedly equipped with a variety of security measures, are purpose-built for trading and not for the long-term secure storage of one\x92s crypto. One need only search the term \x93crypto exchange hack\x94 to unearth a litany of reasons as to why, in the past, this has not been the safest option for keeping one\x92s crypto out of harm\x92s way. Story continues This is not to suggest that there is no alternative. Recent months have also brought an unprecedented amount of attention to hardware wallets , or cold storage solutions, i.e. physical devices that allow the storage of private keys offline, thus significantly mitigating the potential risk of online attacks. However, there is one significant risk to doing so, namely, cold wallets are incredibly vulnerable to loss, theft or damage. While most will have some sort of backup for their private keys, this often takes the simplistic form of a piece of paper, which is perhaps even more vulnerable to the very same risks that we run into when using a wallet in the first place. While not relating to a cold wallet specifically, when it comes to the pitfalls of storing one\x92s digital currency physically, one cannot help but think of the guy who lost his laptop containing 8,000 Bitcoin to a dump back in 2013, highlighting just how perilous an enterprise this can be. Crypto\x92s psychological barriers So what then, are we supposed to do with our crypto savings? We should do precisely what we do with our fiat savings: Put them into a bank, and a regulated one at that. However, there is a psychological barrier existing in the cryptosphere that inherently opposes the traditional banking system. Bitcoin was birthed in the wake of the financial crisis of 2008, and accordingly, it is an industry that has long taken umbrage with the idea of trusting in these very same institutions. It is helpful to bear in mind that the crypto industry is wholly different from what it was at the time of its inception. When e-commerce platforms such as eBay and Amazon started to come to prominence in the late 1990s, there was much skepticism surrounding the requirement of uploading one\x92s card details to the internet, with many of the related concerns \x97\xa0 trust, security, hacks, etc. \x97 similar to those felt by early crypto adopters today. As the industry matured, players such as PayPal entered the fray and were able to ensure trust and usability. This allowed the industry to prosper, even in the face of the dot-com bubble bursting. Arguably, this setback perhaps even benefitted the industry in the long term, as it ushered in a new era of regulation and prompted an upsurge in compliant stakeholders. If we apply this sentiment to the evolution of crypto, then the collapse of FTX is similar in some ways to the bursting of our dot-com bubble. We are already seeing the race to regulation in the wake of this collapse and it is only a matter of time before we see more and more compliant, regulated, custodians step in to not only safeguard against a repeat of this situation but further, educate the general public on the risks and best practices involved in holding cryptocurrencies. Rethinking banking Traditional banks have historically been averse to adopting and adapting to crypto. However, such institutions can serve as a catalyst for mainstream adoption, ensuring trust in the industry. From the basic secure storage of digital assets to more nuanced offerings akin to traditional banks, there is a wealth of opportunities for both existing and emerging crypto banking providers to circumvent many of the problems currently faced by those looking for storage solutions. This can vastly improve upon the benefits of keeping one\x92s crypto locked up in a hardware wallet, and it can do so without sacrificing security as one must when keeping their holdings on an exchange. From actual physical vaults for the secure storage of one\x92s currencies to leveraging blockchain technology to provide transparency, immutability, and security to customers, crypto banks can effectively assuage the current woes with crypto storage, without having to take on the additional risk of \x93storing your money under your mattress.\x94 With regulatory action coming in hard and fast against a number of institutions, there has never been more of a need for alternative secure storage solutions for our digital assets. While many have turned to cold storage solutions, for the industry to truly mature we need an alternative. One that is not liable to get lost in a dump for eternity and that can safeguard our assets in a safe, secure, and regulated way. Bitcoin is first and foremost a store of value, but for those who are medium to long-term in their investment appetite, it is a savings instrument. If you have a medium-term view of Bitcoin, you understand that it is finite, decentralized and secure. However, being able to make cross-border payments, convert them into fiat, spend those funds with cards or QR codes on demand, and at the convenience of the holder, is also incredibly helpful and valuable. Crypto banking merges security with usability. The most important benefit of crypto banking is security. While many believe in \x93not your keys, not your crypto,\x94 there is a glaring lack of consideration from these idealists for the barrage of problems that this mentality brings. The treasure trove of crypto that has been lost due to mistakes of self-custody far exceeds that ever lost to third-party custodians. Moreover, the technical knowledge required for self-custody is inaccessible to the average individual and the risks involved are unjustifiably high. We have had hundreds of years to try out different approaches to safeguarding our wealth, and there are some pretty compelling reasons as to why the vast majority of us have come to the decision NOT to do so inside the walls of our homes. In the case of crypto, this is perhaps even more true. With the immutable nature of blockchain technology, should one\x92s private keys be compromised, should one lose their hardware wallet in some tragic twist of fate, or even in the extreme case should someone suffer an untimely death, there really is no getting the money back. Keeping constant care of your crypto is not the safe option. Putting it into a regulated crypto bank is.', 'Cryptocurrencies have undergone a remarkable journey: evolving from a niche concept to now being seriously considered as an asset class, captivating the world with their potential for innovation and disruption. While the market’s volatility in the wake of industry-shaking events can undoubtedly be unnerving,\xa0 it’s imperative to recognize this as a characteristic common to markets in emerging technologies.\nWe need only hark back to the dot-com bubble bursting to serve as a telling reminder that over the course of history, even in the face of temporary setbacks, the underlying potential and long-term value of truly revolutionary technologies is what has allowed them to prevail.\nThis progress, coupled with the underlying benefits of blockchain technology and not speculation, has given rise to an undeniable upward trend in the value of the industry that will sow the seeds for its long-term prosperity.\nHowever, with this upward trajectory and increasing valuation comes a manifold increase in the risks threatening one’s crypto holdings. As the industry matures and an ever-increasing number of interested parties have entered the fray, we have seen increased scrutiny of many of the challenges present, one of them being safe storage for digital assets.\nMany of the people who engage with the crypto space do so to trade, presumably, in hopes of making a lofty return on their investments. This is especially true in developed economies. In emerging markets, the use case for a decentralized store of value is very real.\nNevertheless, the most common entry point to crypto are exchanges, and as a result, there are a large number of individuals who keep their holdings living on exchanges, regardless of if they are engaged in regular day-to-day trading activities.\nThese platforms, while undoubtedly equipped with a variety of security measures, are purpose-built for trading and not for the long-term secure storage of one’s crypto. One need only search the term “crypto exchange hack” to unearth a litany of reasons as to why, in the past, this has not been the safest option for keeping one’s crypto out of harm’s way.\nThis is not to suggest that there is no alternative. Recent months have also brought an unprecedented amount of attention tohardware wallets, or cold storage solutions, i.e. physical devices that allow the storage of private keys offline, thus significantly mitigating the potential risk of online attacks.\nHowever, there is one significant risk to doing so, namely, cold wallets are incredibly vulnerable to loss, theft or damage. While most will have some sort of backup for their private keys, this often takes the simplistic form of a piece of paper, which is perhaps even more vulnerable to the very same risks that we run into when using a wallet in the first place.\nWhile not relating to a cold wallet specifically, when it comes to the pitfalls of storing one’s digital currency physically, one cannot help but think of theguy who lost his laptopcontaining 8,000 Bitcoin to a dump back in 2013, highlighting just how perilous an enterprise this can be.\nSo what then, are we supposed to do with our crypto savings? We should do precisely what we do with our fiat savings: Put them into a bank, and a regulated one at that.\nHowever, there is a psychological barrier existing in the cryptosphere that inherently opposes the traditional banking system. Bitcoin was birthed in the wake of the financial crisis of 2008, and accordingly, it is an industry that has long taken umbrage with the idea of trusting in these very same institutions.\nIt is helpful to bear in mind that the crypto industry is wholly different from what it was at the time of its inception. When e-commerce platforms such as eBay and Amazon started to come to prominence in the late 1990s, there was much skepticism surrounding the requirement of uploading one’s card details to the internet, with many of the related concerns —\xa0 trust, security, hacks, etc. — similar to those felt by early crypto adopters today.\nAs the industry matured, players such as PayPal entered the fray and were able to ensure trust and usability. This allowed the industry to prosper, even in the face of the dot-com bubble bursting. Arguably, this setback perhaps even benefitted the industry in the long term, as it ushered in a new era of regulation and prompted an upsurge in compliant stakeholders.\nIf we apply this sentiment to the evolution of crypto, then thecollapse of FTXis similar in some ways to the bursting of our dot-com bubble. We are already seeing the race to regulation in the wake of this collapse and it is only a matter of time before we see more and more compliant, regulated, custodians step in to not only safeguard against a repeat of this situation but further, educate the general public on the risks and best practices involved in holding cryptocurrencies.\nTraditional banks have historically been averse to adopting and adapting to crypto. However, such institutions can serve as a catalyst for mainstream adoption, ensuring trust in the industry.\nFrom the basic secure storage of digital assets to more nuanced offerings akin to traditional banks, there is a wealth of opportunities for both existing and emerging crypto banking providers to circumvent many of the problems currently faced by those looking for storage solutions.\nThis can vastly improve upon the benefits of keeping one’s crypto locked up in a hardware wallet, and it can do so without sacrificing security as one must when keeping their holdings on an exchange. From actual physical vaults for the secure storage of one’s currencies to leveraging blockchain technology to provide transparency, immutability, and security to customers, crypto banks can effectively assuage the current woes with crypto storage, without having to take on the additional risk of “storing your money under your mattress.”\nWith regulatory action coming in hard and fast against a number of institutions, there has never been more of a need for alternative secure storage solutions for our digital assets. While many have turned to cold storage solutions, for the industry to truly mature we need an alternative. One that is not liable to get lost in a dump for eternity and that can safeguard our assets in a safe, secure, and regulated way.\nBitcoin is first and foremost a store of value, but for those who are medium to long-term in their investment appetite, it is a savings instrument. If you have a medium-term view of Bitcoin, you understand that it is finite, decentralized and secure. However, being able to make cross-border payments, convert them into fiat, spend those funds with cards or QR codes on demand, and at the convenience of the holder, is also incredibly helpful and valuable. Crypto banking merges security with usability.\nThe most important benefit of crypto banking is security. While many believe in “not your keys, not your crypto,” there is a glaring lack of consideration from these idealists for the barrage of problems that this mentality brings. The treasure trove of crypto that has been lost due to mistakes of self-custody far exceeds that ever lost to third-party custodians. Moreover, the technical knowledge required for self-custody is inaccessible to the average individual and the risks involved are unjustifiably high.\nWe have had hundreds of years to try out different approaches to safeguarding our wealth, and there are some pretty compelling reasons as to why the vast majority of us have come to the decision NOT to do so inside the walls of our homes. In the case of crypto, this is perhaps even more true.\nWith the immutable nature of blockchain technology, should one’s private keys be compromised, should one lose their hardware wallet in some tragic twist of fate, or even in the extreme case should someone suffer an untimely death, there really is no getting the money back. Keeping constant care of your crypto is not the safe option. Putting it into a regulated crypto bank is.', 'Cryptocurrencies have undergone a remarkable journey: evolving from a niche concept to now being seriously considered as an asset class, captivating the world with their potential for innovation and disruption. While the market’s volatility in the wake of industry-shaking events can undoubtedly be unnerving,\xa0 it’s imperative to recognize this as a characteristic common to markets in emerging technologies.\nWe need only hark back to the dot-com bubble bursting to serve as a telling reminder that over the course of history, even in the face of temporary setbacks, the underlying potential and long-term value of truly revolutionary technologies is what has allowed them to prevail.\nThis progress, coupled with the underlying benefits of blockchain technology and not speculation, has given rise to an undeniable upward trend in the value of the industry that will sow the seeds for its long-term prosperity.\nHowever, with this upward trajectory and increasing valuation comes a manifold increase in the risks threatening one’s crypto holdings. As the industry matures and an ever-increasing number of interested parties have entered the fray, we have seen increased scrutiny of many of the challenges present, one of them being safe storage for digital assets.\nMany of the people who engage with the crypto space do so to trade, presumably, in hopes of making a lofty return on their investments. This is especially true in developed economies. In emerging markets, the use case for a decentralized store of value is very real.\nNevertheless, the most common entry point to crypto are exchanges, and as a result, there are a large number of individuals who keep their holdings living on exchanges, regardless of if they are engaged in regular day-to-day trading activities.\nThese platforms, while undoubtedly equipped with a variety of security measures, are purpose-built for trading and not for the long-term secure storage of one’s crypto. One need only search the term “crypto exchange hack” to unearth a litany of reasons as to why, in the past, this has not been the safest option for keeping one’s crypto out of harm’s way.\nThis is not to suggest that there is no alternative. Recent months have also brought an unprecedented amount of attention tohardware wallets, or cold storage solutions, i.e. physical devices that allow the storage of private keys offline, thus significantly mitigating the potential risk of online attacks.\nHowever, there is one significant risk to doing so, namely, cold wallets are incredibly vulnerable to loss, theft or damage. While most will have some sort of backup for their private keys, this often takes the simplistic form of a piece of paper, which is perhaps even more vulnerable to the very same risks that we run into when using a wallet in the first place.\nWhile not relating to a cold wallet specifically, when it comes to the pitfalls of storing one’s digital currency physically, one cannot help but think of theguy who lost his laptopcontaining 8,000 Bitcoin to a dump back in 2013, highlighting just how perilous an enterprise this can be.\nSo what then, are we supposed to do with our crypto savings? We should do precisely what we do with our fiat savings: Put them into a bank, and a regulated one at that.\nHowever, there is a psychological barrier existing in the cryptosphere that inherently opposes the traditional banking system. Bitcoin was birthed in the wake of the financial crisis of 2008, and accordingly, it is an industry that has long taken umbrage with the idea of trusting in these very same institutions.\nIt is helpful to bear in mind that the crypto industry is wholly different from what it was at the time of its inception. When e-commerce platforms such as eBay and Amazon started to come to prominence in the late 1990s, there was much skepticism surrounding the requirement of uploading one’s card details to the internet, with many of the related concerns —\xa0 trust, security, hacks, etc. — similar to those felt by early crypto adopters today.\nAs the industry matured, players such as PayPal entered the fray and were able to ensure trust and usability. This allowed the industry to prosper, even in the face of the dot-com bubble bursting. Arguably, this setback perhaps even benefitted the industry in the long term, as it ushered in a new era of regulation and prompted an upsurge in compliant stakeholders.\nIf we apply this sentiment to the evolution of crypto, then thecollapse of FTXis similar in some ways to the bursting of our dot-com bubble. We are already seeing the race to regulation in the wake of this collapse and it is only a matter of time before we see more and more compliant, regulated, custodians step in to not only safeguard against a repeat of this situation but further, educate the general public on the risks and best practices involved in holding cryptocurrencies.\nTraditional banks have historically been averse to adopting and adapting to crypto. However, such institutions can serve as a catalyst for mainstream adoption, ensuring trust in the industry.\nFrom the basic secure storage of digital assets to more nuanced offerings akin to traditional banks, there is a wealth of opportunities for both existing and emerging crypto banking providers to circumvent many of the problems currently faced by those looking for storage solutions.\nThis can vastly improve upon the benefits of keeping one’s crypto locked up in a hardware wallet, and it can do so without sacrificing security as one must when keeping their holdings on an exchange. From actual physical vaults for the secure storage of one’s currencies to leveraging blockchain technology to provide transparency, immutability, and security to customers, crypto banks can effectively assuage the current woes with crypto storage, without having to take on the additional risk of “storing your money under your mattress.”\nWith regulatory action coming in hard and fast against a number of institutions, there has never been more of a need for alternative secure storage solutions for our digital assets. While many have turned to cold storage solutions, for the industry to truly mature we need an alternative. One that is not liable to get lost in a dump for eternity and that can safeguard our assets in a safe, secure, and regulated way.\nBitcoin is first and foremost a store of value, but for those who are medium to long-term in their investment appetite, it is a savings instrument. If you have a medium-term view of Bitcoin, you understand that it is finite, decentralized and secure. However, being able to make cross-border payments, convert them into fiat, spend those funds with cards or QR codes on demand, and at the convenience of the holder, is also incredibly helpful and valuable. Crypto banking merges security with usability.\nThe most important benefit of crypto banking is security. While many believe in “not your keys, not your crypto,” there is a glaring lack of consideration from these idealists for the barrage of problems that this mentality brings. The treasure trove of crypto that has been lost due to mistakes of self-custody far exceeds that ever lost to third-party custodians. Moreover, the technical knowledge required for self-custody is inaccessible to the average individual and the risks involved are unjustifiably high.\nWe have had hundreds of years to try out different approaches to safeguarding our wealth, and there are some pretty compelling reasons as to why the vast majority of us have come to the decision NOT to do so inside the walls of our homes. In the case of crypto, this is perhaps even more true.\nWith the immutable nature of blockchain technology, should one’s private keys be compromised, should one lose their hardware wallet in some tragic twist of fate, or even in the extreme case should someone suffer an untimely death, there really is no getting the money back. Keeping constant care of your crypto is not the safe option. Putting it into a regulated crypto bank is.', 'Crypto exchange-traded-funds (ETFs) add capital to the market not just by creating demand in the spot market, but the market signal of regulatory approval of these products produces a growth flywheel for retail and other institutional flows that are seeking legitimacy, broker Bernstein said in a report Monday.\n“With the interest ofleading global asset managersin bitcoin (BTC) spot ETFs and potential mechanisms to address the U.S. Securities and Exchange Commission (SEC) objections, the probability of approval has risen,” analysts led by Gautam Chhugani wrote.\nBernstein expects a spot bitcoin ETF market to be sizable, reaching 10% of bitcoin’s market cap in two to three years.\nThe SECextended its reviewof the Ark 21Shares bitcoin ETF application on Friday, as the regulator continues to assess applications from tradition
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-14
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $572,363,259,588
- Hash Rate: 445348917.3077294
- Transaction Count: 568517.0
- Unique Addresses: 723900.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Crypto exchange Binance today said it had set up Lightning nodes on the Bitcoin network to eventually offer Lightning-based bitcoin deposit and withdrawal services to users, as per a Tuesday tweet . Binance is working to integrate the Bitcoin Lightning Network for deposits and withdrawals, the exchange tweeted. However, there's still more tech work to be done. We'll update once Lightning is fully integrated. The Lightning network is dubbed a second layer of the Bitcoin blockchain, which serves to speed up transaction times and decrease network congestion. It achieves this by setting up payment channels that conduct off-chain transactions between users with fees of a few cents. In May, Binance said it would integrate the Lightning network to ease deposit and withdrawal activity for users. Binance had temporarily paused bitcoin withdrawals citing network congestion at the time which led to concerns among users around the exchanges reserve funds. Exchanges Kraken and Bitfinex already offer Lightning network services to users, and Coinbase CEO Brian Armstrong suggested in an April tweet that the exchange would offer Lightning network to users in the future. The Lightning network holds just under $145 million worth of bitcoin meant for quick payments as of Tuesday morning, data shows ....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin edged higher on Tuesday morning in Asia but failed to breach the US$29,500 resistance level. Ether also edged up, while other top 10 non-stablecoin cryptocurrencies traded flat to higher. Solana’s SOL led the winners. As risk sentiment improved in the wake of weak U.S. inflation data, last week saw an inflow for digital asset investment products after three consecutive weeks of outflows. Meanwhile, the Forkast 500 NFT index moved up after the NFT market logged the largest weekly total transactions since February 2022. U.S. stock futures traded mixed after Wall Street closed higher Monday on the back of a rally led by chipmaker Nvidia.\nBitcoin edged up 0.35% in the last 24 hours to US$29,408.45 as of 07:30 a.m. in Hong Kong, and logged a weekly gain of 0.91%, according toCoinMarketCapdata. The world’s leading cryptocurrency reached a high of US$29,660.25 early Tuesday morning.\nBitcoin’s price has remained largely within the $29,000 to $30,600 range for the past seven weeks, causing frustration among investors seeking higher rewards. However, low volatility could be a blessing in disguise, Nigel Green, founder and chief executive officer of financial management group deVere, said in an emailed statement.\n“This newfound stability attracts institutional investors, who have been historically wary of entering the market due to its extreme price swings,” Green said.\n“This stability is also a boon for businesses and consumers looking for a reliable store of value or medium of exchange,” he added.\nMatteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note that low volatility does not necessarily mean low investor interest in the coin.\nGreco pointed to the Bitcoin long-term holder level — a metric that measures the percentage of Bitcoin holders who have held the coin for over 155 days —which reached itshighest ever levelover the first week of August.\n“The data shows how the vast majority of BTC holders did not execute trades in the last few months, as the low volumes and the almost inexistent volatility recorded in the last two months suggest,” said Greco.\n“These numbers are also typical to be observed during the summer months, especially July and August, and do not reflect a decrease in investors’ interest towards the digital asset market,” he added.\nMeanwhile, digital asset investment products saw an inflow of US$29 million in the week ending August 11. That followed three consecutive weeks of outflows totalling around US$144 million, according to a Mondayreportby European alternative asset manager CoinShares. Bitcoin saw an inflow of US$27 million — roughly 93% of the total inflows.\nThe inflows to digital asset investment products are “likely due to the recent U.S. inflation data, which was slightly below expectations, signifying that a September rate hike is less likely,” CoinShares wrote in the report.\nAlong with Bitcoin, Ether gained 0.22% to US$1,844.14 and added 1.05% for the past seven days. Other top 10 non-stablecoin cryptocurrencies all traded higher with the exception of Dogecoin, which inched 0.06% lower to US$0.07477 but gained 2.05% for the week.\nSolana’s SOL led the winners, rising 3.50% to US$25.17 for a 9.42% weekly gain.\nSynesis One, an artificial intelligence (AI) data crowdsourcing platform based on the Solana blockchain, launched its new train-to-earn application “Workspace by Synesis” on Monday.\nThe app allows users to train AIs as data providers while earning cryptocurrencies as rewards. This process, Synesis One claims, will result in a “fully traceable and auditable” data supply chain.\nOutside the top 10 cryptos, HBAR, the utility token of distributed ledger technology platform Hedera Hashgraph, saw its price surge 13.59% in the past 24 hours to US$0.06666. That contributed to a weekly jump of 12.89%.\nHBAR received a boost after Dropp, a Hedera-based micropayments application, wasaddedto the U.S. Federal Reserve’s instant payments platform FedNow. The Fed-run service allows merchants to “accept small-value purchases digitally without paying large transaction fees” following its launch in July.\nThe total crypto market capitalization moved up 0.40% in the past 24 hours to US$1.17 trillion, while trading volume rose 47.95% to US$28.52 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexmoved up 0.39% in the past 24 hours to 2,486.89 as of 09:50 a.m. in Hong Kong, and notched a 0.27% gain for the week. Forkast’s Ethereum and Polygon NFT indexes also logged gains, while the indexes for Solana and Cardano dropped.\nTotal NFT trading volume rose 22.88% in the past 24 hours to over US$16.48 million, according to data fromCryptoSlam. Volumes on the Ethereum, Solana, Polygon, and Cardano blockchains all logged gains, while volume on the Bitcoin blockchain dipped.\nIn the week ending August 13, NFT sales topped US$101 million after sitting short of US$100 million for three consecutive weeks. Meanwhile, NFT transactions for the week totaled more than 2.80 million, a high not seen since February 2022.\nYehudah Petscher, NFT Strategist at Forkast Labs, commenting on the past week’s surge in NFT sales, said that he saw the emergence of low-priced collections as key to a sustained potential uptick in the market.\n“We’re getting a glimpse of the future of NFTs. More affordable prices, higher volume, likely big brands and this is what we’re seeing in DraftKings, DMarket, Gods Unchained, and Sorare,” said Petscher.\nCombined, Petscher noted, those three collections alone notched 872,185 transactions — nearly a third of the week’s total transactions.\n“The question is, is this sustainable? I think it is, and that’s exactly why this will be the future. Traders haven’t really left NFT, they just ran out of liquidity since there’s no profits. But they can afford NFTs that are priced at just a few dollars,” Petscher added.\nAmong NFT collections, Ethereum-based DeGods saw the largest 24-hour sales volume. The collection surged 144.25% to over US$2.21 million after the projectlaunchedits “Season 3” digital art collection on Sunday.\nRather than introducing new NFTs, Season 3 allows its holders to upgrade their original DeGods NFT and receive four generative artworks.\nMythos Chain-based DMarket and ImmutableX-based Gods Unchained — two video game-adjacent collections — came in second and third place in terms of 24-hour sales volume.\nMeanwhile, global beverage giant Coca-Cola Company introduced its “Masterpiece” NFT collection on Monday. The collection combines classic and contemporary art pieces with virtual coca-cola bottles, the company said.\nThe collection is issued on the Base blockchain, an Ethereum layer-2 network recentlylaunchedby crypto exchange Coinbase.\nU.S. stock futures traded higher as of 11:20 a.m. in Hong Kong following gains at the close of trading Monday. The tech-heavy Nasdaq led the gains with a rise of 0.34%.\nIn Asia, the main stock indexes traded mixed on Tuesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s Kospi all logged losses, while Japan’s Nikkei moved higher.\nArtificial intelligence (AI) chipmaker Nvidia Corporation posted a rise of 7.09% on Monday, its highest daily rise since May. That jump followed a note from multinational investment bank Morgan Stanley that described the U.S. tech giant as its “top pick” amid a “massive shift in spending towards AI.”\nNvidia’s highly anticipated quarterly earnings report is due for release next week.\n“It’s the first day in a while that tech has really significantly outperformed,” Jay Hatfield, CEO of U.S.-based investment advisor Infrastructure Capital Advisors,toldReuters.\n“That’s indicative of the fact that you have this blockbuster Nvidia report coming up and that could support the tech market pretty substantially,” Hatfield added.\nU.S. investors now await the release of retail sales data on Tuesday, followed by the U.S. Federal Reserve’s July meeting minutes on Wednesday, for further insight on the health of the U.S. economy and the Fed’s future monetary policies.\nThe Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level since January 2001. Analysts at theCME FedWatch Toolpredict a 88.5% chance there will be no interest rate hike in September.\nElsewhere, China’s central bank unexpectedly lowered the rate of its medium-term lending facility (MLF) by 15 basis points to 2.5% on Tuesday, only two months after the previous rate cut in June.\n“The slightly earlier timing and a larger than expected 15 basis point rate cut of MLF show that Beijing feels the urgency to take more policy easing actions to stabilize expectations and growth,” Xiaojia Zhi, chief China economist at international banking group Credit Agricole,toldBloomberg.\nZhi added that China could see more monetary easing in the coming months.\nThe decision was announced shortly before China’s National Bureau of Statisticsreporteddisappointing economic data for July. That data included a rise in the urban unemployment rate, as well as decelerated and smaller-than-expected growth in retail sales and industrial production, according to theWall Street Journal.\n(Updates with equities section.)', 'Bitcoin edged higher on Tuesday morning in Asia but failed to breach the US$29,500 resistance level. Ether also edged up, while other top 10 non-stablecoin cryptocurrencies traded flat to higher. Solana’s SOL led the winners. As risk sentiment improved in the wake of weak U.S. inflation data, last week saw an inflow for digital asset investment products after three consecutive weeks of outflows. Meanwhile, the Forkast 500 NFT index moved up after the NFT market logged the largest weekly total transactions since February 2022. U.S. stock futures traded mixed after Wall Street closed higher Monday on the back of a rally led by chipmaker Nvidia. A blessing in disguise Bitcoin edged up 0.35% in the last 24 hours to US$29,408.45 as of 07:30 a.m. in Hong Kong, and logged a weekly gain of 0.91%, according to CoinMarketCap data. The world’s leading cryptocurrency reached a high of US$29,660.25 early Tuesday morning. Bitcoin’s price has remained largely within the $29,000 to $30,600 range for the past seven weeks, causing frustration among investors seeking higher rewards. However, low volatility could be a blessing in disguise, Nigel Green, founder and chief executive officer of financial management group deVere, said in an emailed statement. “This newfound stability attracts institutional investors, who have been historically wary of entering the market due to its extreme price swings,” Green said. “This stability is also a boon for businesses and consumers looking for a reliable store of value or medium of exchange,” he added. Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note that low volatility does not necessarily mean low investor interest in the coin. Greco pointed to the Bitcoin long-term holder level — a metric that measures the percentage of Bitcoin holders who have held the coin for over 155 days —which reached its highest ever level over the first week of August. “The data shows how the vast majority of BTC holders did not execute trades in the last few months, as the low volumes and the almost inexistent volatility recorded in the last two months suggest,” said Greco. “These numbers are also typical to be observed during the summer months, especially July and August, and do not reflect a decrease in investors’ interest towards the digital asset market,” he added. Meanwhile, digital asset investment products saw an inflow of US$29 million in the week ending August 11. That followed three consecutive weeks of outflows totalling around US$144 million, according to a Monday report by European alternative asset manager CoinShares. Bitcoin saw an inflow of US$27 million — roughly 93% of the total inflows. Story continues The inflows to digital asset investment products are “likely due to the recent U.S. inflation data, which was slightly below expectations, signifying that a September rate hike is less likely,” CoinShares wrote in the report. Along with Bitcoin, Ether gained 0.22% to US$1,844.14 and added 1.05% for the past seven days. Other top 10 non-stablecoin cryptocurrencies all traded higher with the exception of Dogecoin, which inched 0.06% lower to US$0.07477 but gained 2.05% for the week. Solana’s SOL led the winners, rising 3.50% to US$25.17 for a 9.42% weekly gain. Synesis One, an artificial intelligence (AI) data crowdsourcing platform based on the Solana blockchain, launched its new train-to-earn application “Workspace by Synesis” on Monday. The app allows users to train AIs as data providers while earning cryptocurrencies as rewards. This process, Synesis One claims, will result in a “fully traceable and auditable” data supply chain. We are proud to announce the launch of the Synesis One AI data crowdsourcing app on @solana Mainnet! 🎉🎉 https://t.co/L4Bjq5upgT More information in the 🧵below! pic.twitter.com/eyd4wtBHYD — Synesis One (@synesis_one) August 14, 2023 Outside the top 10 cryptos, HBAR, the utility token of distributed ledger technology platform Hedera Hashgraph, saw its price surge 13.59% in the past 24 hours to US$0.06666. That contributed to a weekly jump of 12.89%. HBAR received a boost after Dropp, a Hedera-based micropayments application, was added to the U.S. Federal Reserve’s instant payments platform FedNow. The Fed-run service allows merchants to “accept small-value purchases digitally without paying large transaction fees” following its launch in July. The total crypto market capitalization moved up 0.40% in the past 24 hours to US$1.17 trillion, while trading volume rose 47.95% to US$28.52 billion. Weekly NFT transactions hit year-long high The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index moved up 0.39% in the past 24 hours to 2,486.89 as of 09:50 a.m. in Hong Kong, and notched a 0.27% gain for the week. Forkast’s Ethereum and Polygon NFT indexes also logged gains, while the indexes for Solana and Cardano dropped. Total NFT trading volume rose 22.88% in the past 24 hours to over US$16.48 million, according to data from CryptoSlam . Volumes on the Ethereum, Solana, Polygon, and Cardano blockchains all logged gains, while volume on the Bitcoin blockchain dipped. In the week ending August 13, NFT sales topped US$101 million after sitting short of US$100 million for three consecutive weeks. Meanwhile, NFT transactions for the week totaled more than 2.80 million, a high not seen since February 2022. Yehudah Petscher, NFT Strategist at Forkast Labs, commenting on the past week’s surge in NFT sales, said that he saw the emergence of low-priced collections as key to a sustained potential uptick in the market. “We’re getting a glimpse of the future of NFTs. More affordable prices, higher volume, likely big brands and this is what we’re seeing in DraftKings, DMarket, Gods Unchained, and Sorare,” said Petscher. Combined, Petscher noted, those three collections alone notched 872,185 transactions — nearly a third of the week’s total transactions. “The question is, is this sustainable? I think it is, and that’s exactly why this will be the future. Traders haven’t really left NFT, they just ran out of liquidity since there’s no profits. But they can afford NFTs that are priced at just a few dollars,” Petscher added. Among NFT collections, Ethereum-based DeGods saw the largest 24-hour sales volume. The collection surged 144.25% to over US$2.21 million after the project launched its “Season 3” digital art collection on Sunday. Rather than introducing new NFTs, Season 3 allows its holders to upgrade their original DeGods NFT and receive four generative artworks. Mythos Chain-based DMarket and ImmutableX-based Gods Unchained — two video game-adjacent collections — came in second and third place in terms of 24-hour sales volume. Meanwhile, global beverage giant Coca-Cola Company introduced its “Masterpiece” NFT collection on Monday. The collection combines classic and contemporary art pieces with virtual coca-cola bottles, the company said. Check out the link below to see the full Masterpiece collection https://t.co/PQoKJCmUWe — Coca-Cola (@CocaCola) August 13, 2023 The collection is issued on the Base blockchain, an Ethereum layer-2 network recently launched by crypto exchange Coinbase. Nvidia leads US equities rally Nvidia headquarters in Santa Clara, California|Image: Getty Images U.S. stock futures traded higher as of 11:20 a.m. in Hong Kong following gains at the close of trading Monday. The tech-heavy Nasdaq led the gains with a rise of 0.34%. In Asia, the main stock indexes traded mixed on Tuesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s Kospi all logged losses, while Japan’s Nikkei moved higher. Artificial intelligence (AI) chipmaker Nvidia Corporation posted a rise of 7.09% on Monday, its highest daily rise since May. That jump followed a note from multinational investment bank Morgan Stanley that described the U.S. tech giant as its “top pick” amid a “massive shift in spending towards AI.” Nvidia’s highly anticipated quarterly earnings report is due for release next week. “It’s the first day in a while that tech has really significantly outperformed,” Jay Hatfield, CEO of U.S.-based investment advisor Infrastructure Capital Advisors, told Reuters. “That’s indicative of the fact that you have this blockbuster Nvidia report coming up and that could support the tech market pretty substantially,” Hatfield added. U.S. investors now await the release of retail sales data on Tuesday, followed by the U.S. Federal Reserve’s July meeting minutes on Wednesday, for further insight on the health of the U.S. economy and the Fed’s future monetary policies. The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level since January 2001. Analysts at the CME FedWatch Tool predict a 88.5% chance there will be no interest rate hike in September. Elsewhere, China’s central bank unexpectedly lowered the rate of its medium-term lending facility (MLF) by 15 basis points to 2.5% on Tuesday, only two months after the previous rate cut in June. “The slightly earlier timing and a larger than expected 15 basis point rate cut of MLF show that Beijing feels the urgency to take more policy easing actions to stabilize expectations and growth,” Xiaojia Zhi, chief China economist at international banking group Credit Agricole, told Bloomberg. Zhi added that China could see more monetary easing in the coming months. The decision was announced shortly before China’s National Bureau of Statistics reported disappointing economic data for July. That data included a rise in the urban unemployment rate, as well as decelerated and smaller-than-expected growth in retail sales and industrial production, according to the Wall Street Journal . (Updates with equities section.) View comments', 'Bitcoin edged higher on Tuesday morning in Asia but failed to breach the US$29,500 resistance level. Ether also edged up, while other top 10 non-stablecoin cryptocurrencies traded flat to higher. Solana’s SOL led the winners. As risk sentiment improved in the wake of weak U.S. inflation data, last week saw an inflow for digital asset investment products after three consecutive weeks of outflows. Meanwhile, the Forkast 500 NFT index moved up after the NFT market logged the largest weekly total transactions since February 2022. U.S. stock futures traded mixed after Wall Street closed higher Monday on the back of a rally led by chipmaker Nvidia.\nBitcoin edged up 0.35% in the last 24 hours to US$29,408.45 as of 07:30 a.m. in Hong Kong, and logged a weekly gain of 0.91%, according toCoinMarketCapdata. The world’s leading cryptocurrency reached a high of US$29,660.25 early Tuesday morning.\nBitcoin’s price has remained largely within the $29,000 to $30,600 range for the past seven weeks, causing frustration among investors seeking higher rewards. However, low volatility could be a blessing in disguise, Nigel Green, founder and chief executive officer of financial management group deVere, said in an emailed statement.\n“This newfound stability attracts institutional investors, who have been historically wary of entering the market due to its extreme price swings,” Green said.\n“This stability is also a boon for businesses and consumers looking for a reliable store of value or medium of exchange,” he added.\nMatteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note that low volatility does not necessarily mean low investor interest in the coin.\nGreco pointed to the Bitcoin long-term holder level — a metric that measures the percentage of Bitcoin holders who have held the coin for over 155 days —which reached itshighest ever levelover the first week of August.\n“The data shows how the vast majority of BTC holders did not execute trades in the last few months, as the low volumes and the almost inexistent volatility recorded in the last two months suggest,” said Greco.\n“These numbers are also typical to be observed during the summer months, especially July and August, and do not reflect a decrease in investors’ interest towards the digital asset market,” he added.\nMeanwhile, digital asset investment products saw an inflow of US$29 million in the week ending August 11. That followed three consecutive weeks of outflows totalling around US$144 million, according to a Mondayreportby European alternative asset manager CoinShares. Bitcoin saw an inflow of US$27 million — roughly 93% of the total inflows.\nThe inflows to digital asset investment products are “likely due to the recent U.S. inflation data, which was slightly below expectations, signifying that a September rate hike is less likely,” CoinShares wrote in the report.\nAlong with Bitcoin, Ether gained 0.22% to US$1,844.14 and added 1.05% for the past seven days. Other top 10 non-stablecoin cryptocurrencies all traded higher with the exception of Dogecoin, which inched 0.06% lower to US$0.07477 but gained 2.05% for the week.\nSolana’s SOL led the winners, rising 3.50% to US$25.17 for a 9.42% weekly gain.\nSynesis One, an artificial intelligence (AI) data crowdsourcing platform based on the Solana blockchain, launched its new train-to-earn application “Workspace by Synesis” on Monday.\nThe app allows users to train AIs as data providers while earning cryptocurrencies as rewards. This process, Synesis One claims, will result in a “fully traceable and auditable” data supply chain.\nOutside the top 10 cryptos, HBAR, the utility token of distributed ledger technology platform Hedera Hashgraph, saw its price surge 13.59% in the past 24 hours to US$0.06666. That contributed to a weekly jump of 12.89%.\nHBAR received a boost after Dropp, a Hedera-based micropayments application, wasaddedto the U.S. Federal Reserve’s instant payments platform FedNow. The Fed-run service allows merchants to “accept small-value purchases digitally without paying large transaction fees” following its launch in July.\nThe total crypto market capitalization moved up 0.40% in the past 24 hours to US$1.17 trillion, while trading volume rose 47.95% to US$28.52 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexmoved up 0.39% in the past 24 hours to 2,486.89 as of 09:50 a.m. in Hong Kong, and notched a 0.27% gain for the week. Forkast’s Ethereum and Polygon NFT indexes also logged gains, while the indexes for Solana and Cardano dropped.\nTotal NFT trading volume rose 22.88% in the past 24 hours to over US$16.48 million, according to data fromCryptoSlam. Volumes on the Ethereum, Solana, Polygon, and Cardano blockchains all logged gains, while volume on the Bitcoin blockchain dipped.\nIn the week ending August 13, NFT sales topped US$101 million after sitting short of US$100 million for three consecutive weeks. Meanwhile, NFT transactions for the week totaled more than 2.80 million, a high not seen since February 2022.\nYehudah Petscher, NFT Strategist at Forkast Labs, commenting on the past week’s surge in NFT sales, said that he saw the emergence of low-priced collections as key to a sustained potential uptick in the market.\n“We’re getting a glimpse of the future of NFTs. More affordable prices, higher volume, likely big brands and this is what we’re seeing in DraftKings, DMarket, Gods Unchained, and Sorare,” said Petscher.\nCombined, Petscher noted, those three collections alone notched 872,185 transactions — nearly a third of the week’s total transactions.\n“The question is, is this sustainable? I think it is, and that’s exactly why this will be the future. Traders haven’t really left NFT, they just ran out of liquidity since there’s no profits. But they can afford NFTs that are priced at just a few dollars,” Petscher added.\nAmong NFT collections, Ethereum-based DeGods saw the largest 24-hour sales volume. The collection surged 144.25% to over US$2.21 million after the projectlaunchedits “Season 3” digital art collection on Sunday.\nRather than introducing new NFTs, Season 3 allows its holders to upgrade their original DeGods NFT and receive four generative artworks.\nMythos Chain-based DMarket and ImmutableX-based Gods Unchained — two video game-adjacent collections — came in second and third place in terms of 24-hour sales volume.\nMeanwhile, global beverage giant Coca-Cola Company introduced its “Masterpiece” NFT collection on Monday. The collection combines classic and contemporary art pieces with virtual coca-cola bottles, the company said.\nThe collection is issued on the Base blockchain, an Ethereum layer-2 network recentlylaunchedby crypto exchange Coinbase.\nU.S. stock futures traded higher as of 11:20 a.m. in Hong Kong following gains at the close of trading Monday. The tech-heavy Nasdaq led the gains with a rise of 0.34%.\nIn Asia, the main stock indexes traded mixed on Tuesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s Kospi all logged losses, while Japan’s Nikkei moved higher.\nArtificial intelligence (AI) chipmaker Nvidia Corporation posted a rise of 7.09% on Monday, its highest daily rise since May. That jump followed a note from multinational investment bank Morgan Stanley that described the U.S. tech giant as its “top pick” amid a “massive shift in spending towards AI.”\nNvidia’s highly anticipated quarterly earnings report is due for release next week.\n“It’s the first day in a while that tech has really significantly outperformed,” Jay Hatfield, CEO of U.S.-based investment advisor Infrastructure Capital Advisors,toldReuters.\n“That’s indicative of the fact that you have this blockbuster Nvidia report coming up and that could support the tech market pretty substantially,” Hatfield added.\nU.S. investors now await the release of retail sales data on Tuesday, followed by the U.S. Federal Reserve’s July meeting minutes on Wednesday, for further insight on the health of the U.S. economy and the Fed’s future monetary policies.\nThe Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level since January 2001. Analysts at theCME FedWatch Toolpredict a 88.5% chance there will be no interest rate hike in September.\nElsewhere, China’s central bank unexpectedly lowered the rate of its medium-term lending facility (MLF) by 15 basis points to 2.5% on Tuesday, only two months after the previous rate cut in June.\n“The slightly earlier timing and a larger than expected 15 basis point rate cut of MLF show that Beijing feels the urgency to take more policy easing actions to stabilize expectations and growth,” Xiaojia Zhi, chief China economist at international banking group Credit Agricole,toldBloomberg.\nZhi added that China could see more monetary easing in the coming months.\nThe decision was announced shortly before China’s National Bureau of Statisticsreporteddisappointing economic data for July. That data included a rise in the urban unemployment rate, as well as decelerated and smaller-than-expected growth in retail sales and industrial production, according to theWall Street Journal.\n(Updates with equities section.)', "There Are Concerns That The Current SEC Will Not Approve Spot Bitcoin ETF\nTheSecurities and Exchange Commission(SEC) is not going to amend its position against allowingexchange-traded funds (ETFs) in Bitcoin spot markets, claims former SEC attorney John Reed Stark.\nStark, who formerly oversaw the SEC's Office of Internet Enforcement,statedon X that the current SEC administration has strong justifications for turning down applications forBitcoin spot ETFs.\nHe cited a letter for the SEC's approach to regulating the cryptocurrency market from Better Markets, a nonprofit organization with headquarters in Washington. According to Better Markets, the network maintenance of the Bitcoin market is dependent on a small group, and is subject to manipulation.\nThe SEC hasconsistently denied Bitcoin ETF applicationssince 2013 based on these concerns, but it has permitted ETFs in Bitcoin futures markets.\nIn addition, Stark made predictions on how the SEC will regulate cryptocurrencies after the 2024 presidential election. He predicted that a GOP-led administration may take a more pro-crypto posture if a Republican candidate wins, thereby streamlining the approval process for spot ETFs. He added that the SEC's enforcement activities might lessen under Republican control of the agency's leadership.", "There Are Concerns That The Current SEC Will Not Approve Spot Bitcoin ETF\nTheSecurities and Exchange Commission(SEC) is not going to amend its position against allowingexchange-traded funds (ETFs) in Bitcoin spot markets, claims former SEC attorney John Reed Stark.\nStark, who formerly oversaw the SEC's Office of Internet Enforcement,statedon X that the current SEC administration has strong justifications for turning down applications forBitcoin spot ETFs.\nHe cited a letter for the SEC's approach to regulating the cryptocurrency market from Better Markets, a nonprofit organization with headquarters in Washington. According to Better Markets, the network maintenance of the Bitcoin market is dependent on a small group, and is subject to manipulation.\nThe SEC hasconsistently denied Bitcoin ETF applicationssince 2013 based on these concerns, but it has permitted ETFs in Bitcoin futures markets.\nIn addition, Stark made predictions on how the SEC will regulate cryptocurrencies after the 2024 presidential election. He predicted that a GOP-led administration may take a more pro-crypto posture if a Republican candidate wins, thereby streamlining the approval process for spot ETFs. He added that the SEC's enforcement activities might lessen under Republican control of the agency's leadership.", "Former SEC Head John Reed Stark Believes Current SEC Will Not Approve Spot Bitcoin ETF There Are Concerns That The Current SEC Will Not Approve Spot Bitcoin ETF The Securities and Exchange Commission (SEC) is not going to amend its position against allowing exchange-traded funds (ETFs) in Bitcoin spot markets , claims former SEC attorney John Reed Stark. Stark, who formerly oversaw the SEC's Office of Internet Enforcement, stated on X that the current SEC administration has strong justifications for turning down applications for Bitcoin spot ETFs . He cited a letter for the SEC's approach to regulating the cryptocurrency market from Better Markets, a nonprofit organization with headquarters in Washington. According to Better Markets, the network maintenance of the Bitcoin market is dependent on a small group, and is subject to manipulation. The SEC has consistently denied Bitcoin ETF applications since 2013 based on these concerns, but it has permitted ETFs in Bitcoin futures markets. In addition, Stark made predictions on how the SEC will regulate cryptocurrencies after the 2024 presidential election. He predicted that a GOP-led administration may take a more pro-crypto posture if a Republican candidate wins, thereby streamlining the approval process for spot ETFs. He added that the SEC's enforcement activities might lessen under Republican control of the agency's leadership.", '• US stocks ended higher as traders try to reinvigorate a rally that\'s stalled in August.\n• The Nasdaq Composite was up over 1% after coming off back-to-back losing weeks for the first time in 2023.\n• Investors will be watching retail sales data from July to publish Tuesday, as well as key earnings results later in the week.\nUS stocks ended higher on Monday, with investors looking shake off the August slump ahead of a week of big retail indicators.\nThe Dow Jones Industrial Average is coming off its fourth positive week out of the last five, while the Nasdaq and S&P 500 both finished lower in the last five-day stretch.\nThe Nasdaq Composite was the big winner in Monday\'s session, rising more than 1% after last Friday concluded its first back-to-back losing weeks in 2023.\nMeanwhile, Bank of America strategist Savita Subramanian said Monday that investors should position for offense rather than defense right now, as stocks look poised to enter the early cycle of an expansion.\nWith odds of a soft-landing rising, she made abullish upgrade to the riskier consumer cyclical sector.\n"[BofA\'s] revised forecast is based on further evidence of continued resilience in the US economy, including positive GDP revisions, strength in business spending, and a rebound in labor supply," she said.\nInvestors will be watching for key retail sales data to publish Tuesday, as well as earnings from retailers later in the week including Walmart, Home Depot, and Target.\nHere\'s where US indexes stood as the market closed 4:00 p.m. on Monday:\n• S&P 500:4,489.72, up 0.58%\n• Dow Jones Industrial Average:35,307.63, up 0.07% (26.23 points)\n• Nasdaq Composite:13,788.33, up 1.05%\nHere\'s what else is going on:\n• "Big Short" investor Michael Burry revealedbig bets against the S&P 500 and Nasdaq 100.\n• Home values have soared so much thatthe share of houses worth $1 million or moreis near a record high.\n• Struggling Chinese property giantCountry Garden saw its stock hit a record low.\n• Chinese stock funds attracted $4.4 billion in 8 days, fueling speculation of astate-run buying spree.\n• Argentina\'s peso dropped aftera presidential candidate who wants to dollarize the economypulled off a primary win.\n• Hawaiian Electric utility companysaw its stock price plunge after Maui fires.\n• AMC stock dropped more than 30% on fears that the meme stock could bediluted by conversion of APE units.\n• Bond markets are flashing warning signseven as recession forecasts pull back, Ed Yardeni said.\nIn commodities, bonds, and crypto:\n• Oil prices declined, withWest Texas Intermediatedown 0.85% to $82.48 a barrel.Brent crude, the international benchmark, inched lower 0.7% to $86.20 a barrel.\n• Goldedged lower 0.36% to $1,939.60 per ounce.\n• The10-year Treasury yieldticked higher one basis point to 4.187%.\n• Bitcoinmoved lower 0.2% to $29,935.00.\nRead the original article onBusiness Insider', 'NYSE US stocks ended higher as traders try to reinvigorate a rally that\'s stalled in August. The Nasdaq Composite was up over 1% after coming off back-to-back losing weeks for the first time in 2023. Investors will be watching retail sales data from July to publish Tuesday, as well as key earnings results later in the week. US stocks ended higher on Monday, with investors looking shake off the August slump ahead of a week of big retail indicators. The Dow Jones Industrial Average is coming off its fourth positive week out of the last five, while the Nasdaq and S&P 500 both finished lower in the last five-day stretch. The Nasdaq Composite was the big winner in Monday\'s session, rising more than 1% after last Friday concluded its first back-to-back losing weeks in 2023. Meanwhile, Bank of America strategist Savita Subramanian said Monday that investors should position for offense rather than defense right now, as stocks look poised to enter the early cycle of an expansion. With odds of a soft-landing rising, she made a bullish upgrade to the riskier consumer cyclical sector . "[BofA\'s] revised forecast is based on further evidence of continued resilience in the US economy, including positive GDP revisions, strength in business spending, and a rebound in labor supply," she said. Investors will be watching for key retail sales data to publish Tuesday, as well as earnings from retailers later in the week including Walmart, Home Depot, and Target. Here\'s where US indexes stood as the market closed 4:00 p.m. on Monday: S&P 500 : 4,489.72, up 0.58% Dow Jones Industrial Average : 35,307.63, up 0.07% (26.23 points) Nasdaq Composite : 13,788.33, up 1.05% Here\'s what else is going on: "Big Short" investor Michael Burry revealed big bets against the S&P 500 and Nasdaq 100. Home values have soared so much that the share of houses worth $1 million or more is near a record high. Struggling Chinese property giant Country Garden saw its stock hit a record low . Chinese stock funds attracted $4.4 billion in 8 days, fueling speculation of a state-run buying spree . Argentina\'s peso dropped after a presidential candidate who wants to dollarize the economy pulled off a primary win. Hawaiian Electric utility company saw its stock price plunge after Maui fires. AMC stock dropped more than 30% on fears that the meme stock could be diluted by conversion of APE units. Bond markets are flashing warning signs even as recession forecasts pull back , Ed Yardeni said. Story continues In commodities, bonds, and crypto: Oil prices declined, with West Texas Intermediate down 0.85% to $82.48 a barrel. Brent crude , the international benchmark, inched lower 0.7% to $86.20 a barrel. Gold edged lower 0.36% to $1,939.60 per ounce. The 10-year Treasury yield ticked higher one basis point to 4.187%. Bitcoin moved lower 0.2% to $29,935.00. Read the original article on Business Insider', "Participants Ted Ayvas; IR; Crescendo Communications, LLC Bruce Rodgers; Chairman, CEO & President; LM Funding America, Inc. Rick Russell; CFO; LM Funding America, Inc. Matthew Galinko; Analyst; Maxim Group, LLC Michael Donovon; Analyst; H.C. Wainwright & Co. Jack Richardson; Shareholder; Expressway Center Presentation Operator Greetings. Welcome to the LM Funding America, Inc. second quarter 2023 business update conference call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) Please note that this conference is being recorded. I will now turn the conference over to your host, Ted Ayvas. You may begin. Ted Ayvas Good morning and thank you for joining LM Funding America's second quarter 2023 conference call. On the call with us today are Bruce Rodgers, Chief Executive Officer, and Richard Russell, Chief Financial Officer of LM Funding. This morning, the company announced its operating results for the quarter ended June 30, 2023, and our financial conditions as of that date. The press release is posted on the company's website, lmfunding.com. In addition, the company has filed its quarterly report on Form 10-Q with the US Securities and Exchange Commission, which can also be accessed on the company's website as well as the SEC's website at www.sec.gov. If you have any questions after the call or would like any additional information about the company, please contact Crescendo Communications at 212-671-1020. Before management reviews the company's operating results for the quarter ended June 30, 2023, and its financial condition as of that date, we'd like to remind everyone that this conference call may contain forward-looking statements. All statements other than statements of historical facts contained in this conference call, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations are forward-looking statements. These forward-looking statements are based largely on the company's current expectations and projections about future events and trends that it believes may affect its financial condition, results of operations, strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to various risks, uncertainties, and assumptions as described in the company's Form 10-K filed with the United States Securities and Exchange Commission on March 31, 2023. Because of these risks, uncertainties, and assumptions, the forward-looking events and circumstances discussed in this conference call may not occur and actual results could differ materially and adversely from these anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. In addition, neither the company nor any person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The company disclaims any duty to update any of these forward-looking statements. All forward-looking statements attributable to the company are expressly qualified in their entirety by these cautionary statements as well as others made in this conference call. You should evaluate all forward-looking statements made by the company in the context of these risks and uncertainties. In addition, today's discussion will include references to non-GAAP measures. The company believes that such information provides an additional measurement and consistent historical comparison of its performance. A reconciliation of the non-GAAP measures to the most direct comparable GAAP measure is available in today's news release on our website. With that, I will now turn the call over to Bruce Rodgers. Story continues Bruce Rodgers Thanks, Tedd. Good morning and thanks to everyone for joining us today. On behalf of the LM Funding team, I want to thank our shareholders for their continued patience with our share price through much of the second quarter. Our company made significant progress in the second quarter towards our Bitcoin mining and other objectives in furtherance of our strategic plans. We believe our strategic plans for our businesses will lead to considerable value for our shareholders. At June 30, 2023, we had approximately 5,230 mining machines electrified at hosting facilities and actively mining bitcoin. During the quarter ended June 30, 2023, we mined 106.6 bitcoin, a sequential increase of 16% compared to 91.6 bitcoin mined in the first quarter of 2023 at an average market revenue value of $27,900 per bitcoin. The current bitcoin price has been higher and has fluctuated between $29,000 and $31,000 over the last several months. As of August 14, 2023, we have approximately 5,950 mining machines fully operational and mining, providing approximately 615 petahash of mining capacity. Looking ahead to the next bitcoin halving event, projected to occur in 2024, our goal is to continue to procure more energy efficient mining machines to boost our mining capacity and lower our average joules per terahash costs. In July, we announced that the company had installed Braiins OS+ software on 360 of its mining machines. We expect this to increase the hash rate on these machines by as much as 25%, which should lead to an increased number of bitcoins that we can mine. In addition to increasing hash rate, there's further advantage to mining bitcoin with machines operating Braiins OS+ software as machines equipped with this software may mine with any pool or mine with Braiins pool without having to pay pool fees to Braiins. We believe the best use of our capital is to increase hash rate production through the purchase of additional miners, enhancements to their hashing capabilities. We pivoted our focus to bitcoin mining with the purchase, delivery, and energization of our first miners completed at the end of 2022. We mined 53.4 bitcoin in 2022, 91.7 bitcoin in the first quarter of 2023, and 106.6 bitcoin in the second quarter of 2023. Since the beginning of Q1, we have increased our mining capacity from 3,000 mining machines to 5,950 mining machines, generating 615 petahash. We believe our stock price should better reflect the growth in our bitcoin mining business since the beginning of 2023. A significant highlight from the recent quarter was our successful $2.6 million Stalking Horse Bid leading to the acquisition of Symbiont, Inc's assets, including its flagship product, the Assembly financial services block chain enterprise platform. Assembly was developed for financial institutions to handle the issuance, tracking, and management of various financial transactions such as loans, investment contracts, and securities on a shared blockchain. This acquisition affords us entry into the smart contracts business with an advanced technology offering developed for real customers. We are currently in dialogues with technology partners to license, develop, and sell our Symbiont assets and expect to announce further developments this quarter. With respect to our legacy business, which involves offering funding to nonprofit community associations, the business has remained fairly stable since the conclusion of 2022. In summary, we find it puzzling that such a substantial discrepancy exists between our stockholders' equity of $39.9 million, equivalent to $2.72 per outstanding share as of June 30, 2023, and the recent trading price of our shares at $0.70 per share. This represents a 75% discount to book value. While we are mindful of the broader weaknesses in the stock market, especially within the microcap market where we suffered disproportionately, we remain optimistic that by diligently executing on our strategic plan, mining more bitcoin, and monetizing the Symbiont assets, we can narrow this valuation gap. On that note, I'd like to turn the call over to Rick Russell, Chief Financial Officer of LM Funding, who will review the financial results for the three-month period ended June 30, 2023. Rick? Rick Russell Thanks, Bruce, and good morning, everyone. Total revenues for the three months ended June 30, 2023, increased by $3 million to $3.2 million from $235,000 for the three months ended June 30, 2022. Furthermore, we have experienced strong sequential quarterly revenue growth of more than 38% compared to the first quarter of 2023. Revenues for the three months ended June 30, 2023, include digital mining revenue of $3 million due to the mining of 106.4 bitcoins in the second quarter of 2023, whereas there was no mining for 2022 comparable quarter. Operating expenses totaled $6.4 million for the three months ended June 30th, 2023, compared to $5.6 million for the three months ended June 30, 2022. The $1 million increase is primarily attributable to $2.4 million increase in digital mining costs, a $1.3 million increase in depreciation, partially offset by a $1.9 million decrease in stock compensation and $700,000 decrease in professional fees as compared to the second quarter of 2022. For the three months ended June 30, 2023, the net loss attributable to LM Funding shareholders was $4.5 million, which included a $3.7 million non-cash unrealized loss on investment in equity securities compared to net income of $2.8 million for the second quarter of 2022, which included $12.2 million unrealized gain on investments in equity securities. Core EBITDA for the quarter ended June 30, 2023, was $1 million compared to a core EBITDA loss of $2.3 million in the 2022 comparable quarter, primarily due to our bitcoin mining operations and the gain on adjustment of Symbiont note receivable allowance. Turning to our balance sheet, we ended the quarter with $1.8 million cash, bitcoins worth $2 million, and working capital of $5.5 million, which we believe provides us with sufficient liquidity to execute on our current bitcoin mining strategy. In addition, we had minimal long-term debt and ended the quarter with stockholders' equity of $39.9 million or $2.32 per share. Finally, net cash used by operations were $330,000 during three months ended June 30, 2023, compared to net cash provided by operations of $334,000 for the three months ended June 30, 2022. This change in cash used in operating activities was primarily driven by the difference between bitcoin mining revenue received in non-cash consideration, i.e., bitcoin, as compared to [that of] mining bitcoins, liquidate [support] operations in three months ended June 30, 2023. That concludes our prepared remarks. I would now like to open the call for questions. Operator, could you please assist us with that? Question and Answer Session Operator Certainly. At this time, we will be conducting the question-and-answer session. (Operator Instructions) Matthew Galinko, Maxim Group. Matthew Galinko Can we start with maybe a little bit more on your thoughts looking into the halving event next -- expected for next year? Is the -- maybe talk a little bit more about your stra
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-15
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $571,724,129,950
- Hash Rate: 445348917.3077294
- Transaction Count: 583063.0
- Unique Addresses: 786113.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.53
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Illustration by Mitchell Preffer for Decrypt. The recovery that began last week —after U.S. inflation appeared to cool—hit its stride this week as markets continued to reverberate from the bombshell of the world’s largest asset manager, BlackRock, filing an application to the SEC for a Bitcoin spot Exchange-Traded Fund (ETF). Dozens of companies apply for ETFs, and dozens have been rejected. To date, not a single Bitcoin spot ETF has been approved by the crypto-skeptic SEC, despite the fact that Canadian regulators have approved many of them. The stakes are high: a spot ETF would offer investors the chance to buy into Bitcoin and either ride the gravy train or go to hell in a hand basket, but if the latter, they’ll be safe in the knowledge that their investment is protected, unlike those who purchase and store crypto directly. If anybody has a chance of getting an ETF approved, it’s BlackRock. The firm boasts an incredible $9 trillion in assets under management and has a winning score of 575-1 when it comes to getting an ETF approved by the SEC. The news inspired two more U.S. asset managers, WisdomTree and Invesco , which have both previously applied for their own ETFs—to file fresh ETF applications this week. Valkyrie followed suit shortly after. Bitcoin (BTC) and Ethereum (ETC) both surged this week. The world’s biggest cryptocurrency shot up 18% to its current price of $30,687, while the biggest runner up rallied 12.7% to trade at $1,893 at the start of the weekend. Investors flooded into other cryptocurrencies this week as well. In fact, most of the top thirty cryptocurrencies by market cap shot up by double-digit percentages. There were no losses among the major unbacked coins. Bitcoin fork Bitcoin Cash (BCH) ballooned a staggering 80.5% over the last seven days and currently trades for $192.90. Regulation and expansion While all eyes were on the SEC and big asset managers this week, there were a couple of other stories that indicated the steady adoption of crypto is continuing around the world. Story continues In the United Kingdom, a central bank digital currency (CBDC) trial project backed by the Bank of England published its findings, concluding that a centrally-issued sterling-pegged digital currency could “enable a robust ecosystem to foster innovation , and to help meet the future needs of a more digitalised society.” The project—dubbed Project Rosalind—emphasized the programmability of crypto through smart contracts, which facilitate automatic payments and enable new kinds of online transactions. On Monday, British parliamentarians in the House of Lords (upper chamber) voted through the Financial Services and Markets Bill , a piece of legislation that proposes regulation for stablecoins, crypto and crypto promotion. The bill has already passed the House of Commons and has made it through to the final stages: the Consideration of Amendments, where both chambers debate the proposals and tighten the screws until they both agree. The final stage requires a signature from King Charlie himself. It was reported on Tuesday that Germany’s largest bank, Deutsche Bank, applied for a digital asset custody platform license with the German finance regulator, the Federal Financial Supervisory Authority (BaFin). During a semiannual hearing on monetary policy held by the Republican-led House Financial Services Committee and led by Patrick McHenry (R-NC) on Wednesday, Fed chair Jerome Powell said the U.S. central bank should play a “robust federal role” in crypto regulation and added that Bitcoin has “ staying power ” while implying the same about stablecoins. Finally, XRP progenitor Ripple was granted an in-principle payments license in Singapore. Ripple has long felt heat from U.S. regulators. A lawsuit against it by the SEC has been ongoing since 2020 and, like Coinbase, the company is now hedging its bets through global expansion....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin and Ether fell on Wednesday morning in Asia, along with other top 10 non-stablecoin cryptocurrencies by market capitalization. Polygon’s MATIC led the losers, while Cardano’s ADA also dipped on news Binance will axe perpetual contracts for the two tokens. Elsewhere, the Forkast 500 NFT index moved down, although changes in trading habits have market analysts predicting good times ahead. In the U.S., stock futures steadied after a rocky Tuesday. Stronger than expected sales data left investors fearing the Fed’s rate hiking cycle may continue. Ratings agency Fitch dampened investor sentiment further by suggesting it could downgrade a number of major U.S. banks. Crypto down Bitcoin fell 0.85% in the last 24 hours to US$29,169.14 as of 07:00 a.m. in Hong Kong, and logged a weekly gain of 1.99%, according to CoinMarketCap data. The world’s leading cryptocurrency has traded below US$30,000 since last Wednesday. Cryptos took a hit Tuesday as the three major U.S. exchanges posted losses. “It’s a tough day for many as both crypto and traditional finance are seeing red. We have seen this before, where cryptocurrency markets mirror what we see with the Nasdaq, down 1.14%,” said Caroline Bowler, chief executive officer of Australian exchange BTC Markets. “These data points are not helped by the lack of liquidity, as we sit in the doldrums so far in August,” she added. Bowler noted that Bitcoin has, however, been range bound for the last two months, sustaining one-year highs. “There is a lot more to come for this asset class,” said Bowler. Meanwhile, Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro, was more bearish in his outlook. “Despite the intraday fluctuations, the daily candles close near their opening levels, indicating a lack of direction and conviction,” he Kuptsikevich. “This usually precedes a sharp move and for now, we see more downside risk, with a potential drop to $28K in the near term,” Kuptsikevich added. Story continues Elsewhere, Ether lost 0.95% to US$1,826.79, falling 1.63% in the past seven days. Similarly, all other top 10 non-stablecoin cryptocurrencies were in decline with the losses led by Polygon’s MATIC. The token lost 6.72% to US$0.6338 on Wednesday morning, dropping 7.43% for the week. Solana’ SOL dipped 5.08% to US$23.84 for a weekly loss of 1.08%. Cardano’s ADA token also dropped 3.13% to US$0.2817, logging a 5.95% weekly decline. The ADA and MATIC losses came after Binance, the world’s largest cryptocurrency exchange by trade volume, announced it will delist perpetual contracts for the two cryptos from Thursday. In June, the U.S. Securities and Exchange Commission (SEC) labeled both MATIC and ADA as financial securities in its lawsuits against Binance.US and Coinbase. Binance CEO Changpeng Zhao and Binance itself were charged with manipulating trading volumes on the platform and diverting customer funds. On Monday, Binance filed a protective court order against the SEC seeking to limit the agency’s “overbroad” requests for information. The total crypto market capitalization moved down 1.32% in the past 24 hours to US$1.16 trillion, while trading volume rose 3.48% to US$29.71 billion. NFT sales price driving change The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index edged down 0.05% in the past 24 hours to 2483.42 as of 08:30 a.m. in Hong Kong. However, the index still shows a 0.22% gain for the week. Forkast’s Ethereum, Polygon and Cardano NFT indexes logged gains, while the index for Solana dropped. Total NFT trading volume rose 14.24% in the past 24 hours to over US$17.72 million, according to data from CryptoSlam . Volumes on the Ethereum, Polygon, Solana and Mythos blockchains all logged gains, while volume on ImmutableX and Bitcoin blockchain dipped. “Something is changing in the NFT market. Traders are very active. While it’s not evident based on total sales, look at the increase in daily global transactions which is at an 18 month high,” said Yehudah Petscher, NFT Strategist at Forkast Labs. The number of global NFT transactions in the last 24 hours grew 2.74% to 590,215. That number is a 173.5% increase on the 215,768 transactions posted on Jan. 1. “Average sales price is the key driver of this change, with the average NFT selling price of $26.81 yesterday reflecting a three year low last seen on Sep. 5, 2020 with a $15.44 average sale price,” Petscher explained. Among NFT collections, Ethereum-based DeGods topped the 24-hour sales volume ranking. The collection rose 28.70% to over US$2.17 million with the launch of its “Season 3” digital art collection on Sunday. “DMarket alone had over US$71,000 sales, many of which at under $1, and you’ll see similar sales in Gods Unchained. DraftKings and Sorare aren’t far off with sales of just a few dollars coming in by the second,” said Petscher. DMarket, a collection linked to Mythos network-based blockchain games, came in second in terms of sales volume. It rose 7.39% to US$959,782. Polygon-based DraftKings NFTs, from the fantasy sports platform of the same name, surged 52.86% to US$785,459. Gods Unchained, from another blockchain-based card trading game, dipped 9.84% to US$616,225 but remained in CryptoSlam’s top five collections ranking. Bad news for US banks and Fed watchers, while China’s economic woes deepen Image: Envato Elements U.S. stock futures traded steady to higher as of 10:50 a.m. in Hong Kong. That followed a rocky Tuesday, with the Dow Jones, S&P and Nasdaq all dipping more than 1.00% during regular trading hours. The main stock indexes in Asia — China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi — all posted losses on Tuesday morning. The Hang Seng Index led the losses with a 1.34% decline. The U.S. posted upbeat retail sales data on Tuesday. The 0.7% increase was higher than the estimated 0.4%, with U.S. consumers continuing to spend despite the recent cycle of interest rate hikes by the U.S. Federal Reserve. Upward sales data, a strong jobs market and rising wages could see the Fed strengthen its resolve to maintain interest rates at the current or higher levels. “This simply means the Fed will have to be more aggressive raising rates higher and keeping rates higher for longer,” said Lindsey Piegza, chief economist at U.S.-based wealth management group Stifel Financial Corp., in an interview with Bloomberg . Still, analysts at the CME FedWatch Tool gave a 90.5% chance that the Federal Reserve will not raise interest rates in September, up from 88.5% on Tuesday. The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level since January 2001. Ratings agency Fitch shook U.S. equities markets further when it warned of a downgrade for dozens of major U.S. banks including JPMorgan and Bank of America. That followed a similar warning for mid-size banks from ratings agency Moody’s last week. Fitch also downgraded the United States’ long term credit rating from AAA to AA+ in early August citing long-term macroeconomic concerns. China market losses reflected the bearish sentiment in the U.S. as it entered a fourth consecutive session of decline. The country’s economic activity data for July — retail sales, industrial output and investment — all came in lower than expected, worsening concerns about China’s economic health. “Most reports point to an economy that, far from roaring back from Covid Zero, is struggling to make much headway,” wrote Daniel Moss, Asian economies columnist at Bloomberg. “It’s also unclear whether, with the property industry in dire straits and the economy suffering from a broad lack of demand, steep cuts in rates might transpire into a dramatic improvement,” Moss wrote. China’s monetary authority unexpectedly cut loan rates by 15 basis points on Tuesday. U.S. investors now await Wednesday’s earnings report from giant retailer Target. Other U.S. retail leaders, Walmart and Home Depot, are set to release their quarterly results this week. (Updates with equities section.)', 'Bitcoin and Ether fell on Wednesday morning in Asia, along with other top 10 non-stablecoin cryptocurrencies by market capitalization. Polygon’s MATIC led the losers, while Cardano’s ADA also dipped on news Binance will axe perpetual contracts for the two tokens. Elsewhere, the Forkast 500 NFT index moved down, although changes in trading habits have market analysts predicting good times ahead. In the U.S., stock futures steadied after a rocky Tuesday. Stronger than expected sales data left investors fearing the Fed’s rate hiking cycle may continue. Ratings agency Fitch dampened investor sentiment further by suggesting it could downgrade a number of major U.S. banks. Crypto down Bitcoin fell 0.85% in the last 24 hours to US$29,169.14 as of 07:00 a.m. in Hong Kong, and logged a weekly gain of 1.99%, according to CoinMarketCap data. The world’s leading cryptocurrency has traded below US$30,000 since last Wednesday. Cryptos took a hit Tuesday as the three major U.S. exchanges posted losses. “It’s a tough day for many as both crypto and traditional finance are seeing red. We have seen this before, where cryptocurrency markets mirror what we see with the Nasdaq, down 1.14%,” said Caroline Bowler, chief executive officer of Australian exchange BTC Markets. “These data points are not helped by the lack of liquidity, as we sit in the doldrums so far in August,” she added. Bowler noted that Bitcoin has, however, been range bound for the last two months, sustaining one-year highs. “There is a lot more to come for this asset class,” said Bowler. Meanwhile, Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro, was more bearish in his outlook. “Despite the intraday fluctuations, the daily candles close near their opening levels, indicating a lack of direction and conviction,” he Kuptsikevich. “This usually precedes a sharp move and for now, we see more downside risk, with a potential drop to $28K in the near term,” Kuptsikevich added. Story continues Elsewhere, Ether lost 0.95% to US$1,826.79, falling 1.63% in the past seven days. Similarly, all other top 10 non-stablecoin cryptocurrencies were in decline with the losses led by Polygon’s MATIC. The token lost 6.72% to US$0.6338 on Wednesday morning, dropping 7.43% for the week. Solana’ SOL dipped 5.08% to US$23.84 for a weekly loss of 1.08%. Cardano’s ADA token also dropped 3.13% to US$0.2817, logging a 5.95% weekly decline. The ADA and MATIC losses came after Binance, the world’s largest cryptocurrency exchange by trade volume, announced it will delist perpetual contracts for the two cryptos from Thursday. In June, the U.S. Securities and Exchange Commission (SEC) labeled both MATIC and ADA as financial securities in its lawsuits against Binance.US and Coinbase. Binance CEO Changpeng Zhao and Binance itself were charged with manipulating trading volumes on the platform and diverting customer funds. On Monday, Binance filed a protective court order against the SEC seeking to limit the agency’s “overbroad” requests for information. The total crypto market capitalization moved down 1.32% in the past 24 hours to US$1.16 trillion, while trading volume rose 3.48% to US$29.71 billion. NFT sales price driving change The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index edged down 0.05% in the past 24 hours to 2483.42 as of 08:30 a.m. in Hong Kong. However, the index still shows a 0.22% gain for the week. Forkast’s Ethereum, Polygon and Cardano NFT indexes logged gains, while the index for Solana dropped. Total NFT trading volume rose 14.24% in the past 24 hours to over US$17.72 million, according to data from CryptoSlam . Volumes on the Ethereum, Polygon, Solana and Mythos blockchains all logged gains, while volume on ImmutableX and Bitcoin blockchain dipped. “Something is changing in the NFT market. Traders are very active. While it’s not evident based on total sales, look at the increase in daily global transactions which is at an 18 month high,” said Yehudah Petscher, NFT Strategist at Forkast Labs. The number of global NFT transactions in the last 24 hours grew 2.74% to 590,215. That number is a 173.5% increase on the 215,768 transactions posted on Jan. 1. “Average sales price is the key driver of this change, with the average NFT selling price of $26.81 yesterday reflecting a three year low last seen on Sep. 5, 2020 with a $15.44 average sale price,” Petscher explained. Among NFT collections, Ethereum-based DeGods topped the 24-hour sales volume ranking. The collection rose 28.70% to over US$2.17 million with the launch of its “Season 3” digital art collection on Sunday. “DMarket alone had over US$71,000 sales, many of which at under $1, and you’ll see similar sales in Gods Unchained. DraftKings and Sorare aren’t far off with sales of just a few dollars coming in by the second,” said Petscher. DMarket, a collection linked to Mythos network-based blockchain games, came in second in terms of sales volume. It rose 7.39% to US$959,782. Polygon-based DraftKings NFTs, from the fantasy sports platform of the same name, surged 52.86% to US$785,459. Gods Unchained, from another blockchain-based card trading game, dipped 9.84% to US$616,225 but remained in CryptoSlam’s top five collections ranking. Bad news for US banks and Fed watchers, while China’s economic woes deepen Image: Envato Elements U.S. stock futures traded steady to higher as of 10:50 a.m. in Hong Kong. That followed a rocky Tuesday, with the Dow Jones, S&P and Nasdaq all dipping more than 1.00% during regular trading hours. The main stock indexes in Asia — China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi — all posted losses on Tuesday morning. The Hang Seng Index led the losses with a 1.34% decline. The U.S. posted upbeat retail sales data on Tuesday. The 0.7% increase was higher than the estimated 0.4%, with U.S. consumers continuing to spend despite the recent cycle of interest rate hikes by the U.S. Federal Reserve. Upward sales data, a strong jobs market and rising wages could see the Fed strengthen its resolve to maintain interest rates at the current or higher levels. “This simply means the Fed will have to be more aggressive raising rates higher and keeping rates higher for longer,” said Lindsey Piegza, chief economist at U.S.-based wealth management group Stifel Financial Corp., in an interview with Bloomberg . Still, analysts at the CME FedWatch Tool gave a 90.5% chance that the Federal Reserve will not raise interest rates in September, up from 88.5% on Tuesday. The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level since January 2001. Ratings agency Fitch shook U.S. equities markets further when it warned of a downgrade for dozens of major U.S. banks including JPMorgan and Bank of America. That followed a similar warning for mid-size banks from ratings agency Moody’s last week. Fitch also downgraded the United States’ long term credit rating from AAA to AA+ in early August citing long-term macroeconomic concerns. China market losses reflected the bearish sentiment in the U.S. as it entered a fourth consecutive session of decline. The country’s economic activity data for July — retail sales, industrial output and investment — all came in lower than expected, worsening concerns about China’s economic health. “Most reports point to an economy that, far from roaring back from Covid Zero, is struggling to make much headway,” wrote Daniel Moss, Asian economies columnist at Bloomberg. “It’s also unclear whether, with the property industry in dire straits and the economy suffering from a broad lack of demand, steep cuts in rates might transpire into a dramatic improvement,” Moss wrote. China’s monetary authority unexpectedly cut loan rates by 15 basis points on Tuesday. U.S. investors now await Wednesday’s earnings report from giant retailer Target. Other U.S. retail leaders, Walmart and Home Depot, are set to release their quarterly results this week. (Updates with equities section.)', '• US stocks slid on Tuesday as investors fretted over the banking sector and China.\n• A Fitch analyst said it could downgrade top US lenders, if the "operating environment" rating for the industry worsens.\n• Meanwhile, China\'s economy continued to sputter in July, weighing on investor sentiment.\nUS stocks slid on Tuesday as investors fretted over the banking sector and took in data showing another weak month for China\'s economy.\nBank stocks fell after aFitch analyst said it may downgrade a handful of US lenders, if the overall "operating environment" rating for the industry worsens further. Shares of JPMorgan, Bank of America, Citigroup, and Wells Fargo traded lower, while the SPDR S&P Regional Banking exchange traded fund fell 3%.\nInvestors were also discouraged by anotherdisappointing month for China\'s economy, with the nation reporting lower-than-expected industrial production, retail sales, and exports for July.\nHere\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Tuesday:\n• S&P 500:4,437.86, down 1.16%\n• Dow Jones Industrial Average:34,946.39, down 1.02% (361.24 points)\n• Nasdaq Composite:13,631.05, down 1.14%\nHere\'s what else is going on today:\n• Home prices saw record increases in over half of the US housing market.\n• Some lower-tier office buildings could become "obsolete"and spark major losses for banks and investors, one property exec said.\n• Nvidia\'s upcoming earnings could swing the whole stock market higher, said Deepwater\'s Gene Munster.\n• China\'s economic slump has spillover risks to the US, Treasury Secretary Janet Yellen said.\n• Russia found a $1.2 billion loophole in the $60 oil price cap, per an analysis from the Financial Times.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil slipped 1.88% to $80.94 a barrel.Brent, the international benchmark, fell 1.6% to $84.83 a barrel.\n• Goldfell 0.31% to $1,902.46 per ounce.\n• The yield on the 10-year Treasury bond rose 2.7 basis points to 4.209%.\n• Bitcoinfell 0.59% to $29,156.\nRead the original article onBusiness Insider', 'Reuters / Lucas Jackson US stocks slid on Tuesday as investors fretted over the banking sector and China. A Fitch analyst said it could downgrade top US lenders, if the "operating environment" rating for the industry worsens. Meanwhile, China\'s economy continued to sputter in July, weighing on investor sentiment. US stocks slid on Tuesday as investors fretted over the banking sector and took in data showing another weak month for China\'s economy. Bank stocks fell after a Fitch analyst said it may downgrade a handful of US lenders , if the overall "operating environment" rating for the industry worsens further. Shares of JPMorgan, Bank of America, Citigroup, and Wells Fargo traded lower, while the SPDR S&P Regional Banking exchange traded fund fell 3%. Investors were also discouraged by another disappointing month for China\'s economy , with the nation reporting lower-than-expected industrial production, retail sales, and exports for July. Here\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Tuesday: S&P 500 : 4,437.86, down 1.16% Dow Jones Industrial Average : 34,946.39, down 1.02% (361.24 points) Nasdaq Composite : 13,631.05, down 1.14% Here\'s what else is going on today: Home prices saw record increases in over half of the US housing market . Some lower-tier office buildings could become "obsolete" and spark major losses for banks and investors, one property exec said. Nvidia\'s upcoming earnings could swing the whole stock market higher , said Deepwater\'s Gene Munster. China\'s economic slump has spillover risks to the US , Treasury Secretary Janet Yellen said. Russia found a $1.2 billion loophole in the $60 oil price cap , per an analysis from the Financial Times. In commodities, bonds, and crypto: West Texas Intermediate crude oil slipped 1.88% to $80.94 a barrel. Brent , the international benchmark, fell 1.6% to $84.83 a barrel. Gold fell 0.31% to $1,902.46 per ounce. The yield on the 10-year Treasury bond rose 2.7 basis points to 4.209%. Bitcoin fell 0.59% to $29,156. Read the original article on Business Insider', 'So much for a calm summer market — 28 of the top 100 digital assets dropped 5% or more today on news that a major market maker is paring down operations. The two largest digital assets, Bitcoin and Ether, proved relatively resilient, down less than 1% on the day. The carnage was more pronounced in altcoins — Ripple (XRP), which is used for cross-border payments and is the fourth-largest digital asset, lost over $1B in market capitalization after dropping nearly 4%. Bitcoin and Ether Hold Up Amid Market Selloff APE , which is central to the Bored Apes ecosystem, and LUNC , the token of the failed Luna ecosystem, crashed over 10%. Meanwhile, MATIC, GMX and APTOS fell over 7%. Muted Market The selloff comes after crypto volatility has been flirting with all-time lows — an Aug. 7 report from analytics firm Glassnode noted that “Bitcoin markets are experiencing an incredibly quiet patch, with several measures of volatility collapsing towards all-time lows.” The price action may serve as a wake-up call for investors after reaching what Glassnode called a “stage of extreme apathy and exhaustion,” in an Aug. 14 report . GSR Downsizes The price action was colored by the news that GSR, a market maker and investment firm which has been operating in crypto for ten years, had five high-level employees leave the company. Some market watchers were quick to pin the day’s selloff on GSR paring back operations, but a dashboard from the controversial analytics platform Arkham Intelligence suggests otherwise — the firm’s total holdings increased by 16.9% to $75.35M in the past week. Bitcoin and Ether Hold Up Amid Market Selloff RUNE Rallies As always — some tokens are bucking the trend. RUNE, the token of THORChain, a cross-chain swap protocol branching into lending and yield-producing vaults, posted a 3.8% gain on a day when the protocol processed a record $100M in volume. RUNE has surged 54% on the week. Bitcoin and Ether Hold Up Amid Market Selloff Read the original post on The Defiant View comments', 'So much for a calm summer market — 28 of the top 100 digital assets dropped 5% or more today on news that a major market maker is paring down operations.\nThe two largest digital assets, Bitcoin and Ether, proved relatively resilient, down less than 1% on the day.\nThe carnage was more pronounced in altcoins — Ripple (XRP), which is used for cross-border payments and is the fourth-largest digital asset, lost over $1B in market capitalization after dropping nearly 4%.\nAPE, which is central to theBored Apesecosystem, andLUNC, the token of thefailedLuna ecosystem, crashed over 10%.\nMeanwhile, MATIC, GMX and APTOS fell over 7%.\nThe selloff comes after crypto volatility has been flirting with all-time lows — an Aug. 7reportfrom analytics firm Glassnode noted that “Bitcoin markets are experiencing an incredibly quiet patch, with several measures of volatility collapsing towards all-time lows.”\nThe price action may serve as a wake-up call for investors after reaching what Glassnode called a “stage of extreme apathy and exhaustion,” in an Aug. 14report.\nThe price action was colored by the news that GSR, a market maker and investment firm which has been operating in crypto for ten years, had five high-level employeesleavethe company.\nSome market watchers were quick to pin the day’s selloff on GSR paring back operations, but adashboardfrom thecontroversialanalytics platform Arkham Intelligence suggests otherwise — the firm’s total holdings increased by 16.9% to $75.35M in the past week.\nAs always — some tokens are bucking the trend.\nRUNE, the token of THORChain, a cross-chain swap protocol branching into lending and yield-producing vaults, posted a 3.8% gain on a day when the protocol processed a record $100M in volume. RUNE has surged 54% on the week.\nRead the original post on The Defiant', 'So much for a calm summer market — 28 of the top 100 digital assets dropped 5% or more today on news that a major market maker is paring down operations.\nThe two largest digital assets, Bitcoin and Ether, proved relatively resilient, down less than 1% on the day.\nThe carnage was more pronounced in altcoins — Ripple (XRP), which is used for cross-border payments and is the fourth-largest digital asset, lost over $1B in market capitalization after dropping nearly 4%.\nAPE, which is central to theBored Apesecosystem, andLUNC, the token of thefailedLuna ecosystem, crashed over 10%.\nMeanwhile, MATIC, GMX and APTOS fell over 7%.\nThe selloff comes after crypto volatility has been flirting with all-time lows — an Aug. 7reportfrom analytics firm Glassnode noted that “Bitcoin markets are experiencing an incredibly quiet patch, with several measures of volatility collapsing towards all-time lows.”\nThe price action may serve as a wake-up call for investors after reaching what Glassnode called a “stage of extreme apathy and exhaustion,” in an Aug. 14report.\nThe price action was colored by the news that GSR, a market maker and investment firm which has been operating in crypto for ten years, had five high-level employeesleavethe company.\nSome market watchers were quick to pin the day’s selloff on GSR paring back operations, but adashboardfrom thecontroversialanalytics platform Arkham Intelligence suggests otherwise — the firm’s total holdings increased by 16.9% to $75.35M in the past week.\nAs always — some tokens are bucking the trend.\nRUNE, the token of THORChain, a cross-chain swap protocol branching into lending and yield-producing vaults, posted a 3.8% gain on a day when the protocol processed a record $100M in volume. RUNE has surged 54% on the week.\nRead the original post on The Defiant', 'First Spot Bitcoin ETF on Euronext Amsterdam\nJacobi Asset Management, headquartered in London, hasintroducedEurope\'s first spotBitcoinexchange-traded fund(ETF) on Euronext Amsterdam, almost two years after receiving initial approval.\nNamed the Jacobi FT Wilshere Bitcoin ETF and governed by the Guernsey Financial Services Commission (GFSC), the ETF will operate under the symbol "BCOIN." Fidelity Digital Assets serves as the custody provider for the fund, while Flow Traders, a trading firm, functions as the market maker, as confirmed by Jacobi.\nInitially granted approval for the fund in October 2021 with intentions to list in 2022, Jacobi opted to delay its plans due to adverse conditions in the digital asset market, including the collapse of the Terra ecosystem and the insolvency of crypto exchange FTX.\nWhile exchange-traded products (ETPs), which include exchange-traded notes (ETNs), are widely used in Europe, Jacobi\'s offering is the first ETF. Unlike holders of ETNs who own a debt product, ETF investors own shares in the underlying company. Jacobi emphasizes that their ETF does not use leverage or derivatives, in contrast to ETNs.\nSurprisingly, Europe will debut a spot Bitcoin ETF before the United States, despite numerous applications submitted to the Securities and Exchange Commission (SEC) over recent years, all of which were denied.\nThere is renewed optimism, however, that the regulator may approve a spot Bitcoin fund, following the application by thelargest asset manager, BlackRock. This led to a wave of new or amended applications featuring "surveillance-sharing" agreements aimed at preventing market manipulation. However, the decision onARK Invest and 21Shares’ Bitcoin ETF was delayedrecently, with some, like formerSEC head John Reed Stark, believing the current SEC will not approve the applications.', 'First Spot Bitcoin ETF in Europe Listed on Euronext Amsterdam First Spot Bitcoin ETF on Euronext Amsterdam Jacobi Asset Management, headquartered in London, has introduced Europe\'s first spot Bitcoin exchange-traded fund (ETF) on Euronext Amsterdam, almost two years after receiving initial approval. Named the Jacobi FT Wilshere Bitcoin ETF and governed by the Guernsey Financial Services Commission (GFSC), the ETF will operate under the symbol "BCOIN." Fidelity Digital Assets serves as the custody provider for the fund, while Flow Traders, a trading firm, functions as the market maker, as confirmed by Jacobi. Initially granted approval for the fund in October 2021 with intentions to list in 2022, Jacobi opted to delay its plans due to adverse conditions in the digital asset market, including the collapse of the Terra ecosystem and the insolvency of crypto exchange FTX. While exchange-traded products (ETPs), which include exchange-traded notes (ETNs), are widely used in Europe, Jacobi\'s offering is the first ETF. Unlike holders of ETNs who own a debt product, ETF investors own shares in the underlying company. Jacobi emphasizes that their ETF does not use leverage or derivatives, in contrast to ETNs. Surprisingly, Europe will debut a spot Bitcoin ETF before the United States, despite numerous applications submitted to the Securities and Exchange Commission (SEC) over recent years, all of which were denied. There is renewed optimism, however, that the regulator may approve a spot Bitcoin fund, following the application by the largest asset manager, BlackRock . This led to a wave of new or amended applications featuring "surveillance-sharing" agreements aimed at preventing market manipulation. However, the decision on ARK Invest and 21Shares’ Bitcoin ETF was delayed recently, with some, like former SEC head John Reed Stark , believing the current SEC will not approve the applications. View comments', 'First Spot Bitcoin ETF on Euronext Amsterdam\nJacobi Asset Management, headquartered in London, hasintroducedEurope\'s first spotBitcoinexchange-traded fund(ETF) on Euronext Amsterdam, almost two years after receiving initial approval.\nNamed the Jacobi FT Wilshere Bitcoin ETF and governed by the Guernsey Financial Services Commission (GFSC), the ETF will operate under the symbol "BCOIN." Fidelity Digital Assets serves as the custody provider for the fund, while Flow Traders, a trading firm, functions as the market maker, as confirmed by Jacobi.\nInitially granted approval for the fund in October 2021 with intentions to list in 2022, Jacobi opted to delay its plans due to adverse conditions in the digital asset market, including the collapse of the Terra ecosystem and the insolvency of crypto exchange FTX.\nWhile exchange-traded products (ETPs), which include exchange-traded notes (ETNs), are widely used in Europe, Jacobi\'s offering is the first ETF. Unlike holders of ETNs who own a debt product, ETF investors own shares in the underlying company. Jacobi emphasizes that their ETF does not use leverage or derivatives, in contrast to ETNs.\nSurprisingly, Europe will debut a spot Bitcoin ETF before the United States, despite numerous applications submitted to the Securities and Exchange Commission (SEC) over recent years, all of which were denied.\nThere is renewed optimism, however, that the regulator may approve a spot Bitcoin fund, following the application by thelargest asset manager, BlackRock. This led to a wave of new or amended applications featuring "surveillance-sharing" agreements aimed at preventing market manipulation. However, the decision onARK Invest and 21Shares’ Bitcoin ETF was delayedrecently, with some, like formerSEC head John Reed Stark, believing the current SEC will not approve the applications.', 'Latest slide in Russian ruble and Argentina\'s peso reveals cracks in the global market, according to one bank. Still, perceived haven assets remain under pressure as Treasury yields and dollar index rise. Perceived safe havens like bitcoin (BTC) and gold struggle to gather upside traction even as signs of cracks in the global market begin to appear in the form of volatility in the fiat currencies of distressed nations. On Monday, the Russian ruble (RUB) depreciated to 102 for U.S. dollar, reaching the lowest since March 2022. The slide took the cumulative year-to-date loss to 33%, highlighting investors\' growing angst about Kremlin\'s dwindling energy revenues and forcing the central bank to hike rates to 12% from 8.5%, an emergency move. Meanwhile, Argentina devalued its already-weak peso (ARS) by 18%, sending it lower to 350 per dollar compared to 287 per dollar last Friday. The peso is down 98% this year. The fresh slide in RUB and ARS represents early signs of stress in global financial markets, according to MUFG Bank. Since the Federal Reserve began raising interest rates in March last year, many have been biased toward perceived haven assets on fears that the so-called tightening cycle will break something in the global market. "It\'s not that either ARS or RUB depreciation will have direct reverberations for the broader markets, they won\'t but the developments do highlight the draw of the U.S. dollar as yields continue to move higher. Weak links are nearly always the first to reveal \'cracks\' and certainly ARS and RUB are weak links," Derek Halpenny, head of research global markets EMEA and international securities, said in a note to clients on Tuesday. So far, the supposed signs of cracks have brought little safe-haven demand for bitcoin, disappointing expectations. The leading cryptocurrency by market value, widely considered digital gold due to its finite supply, remains listless above $29,000, extending its multi-week dull price action. Bitcoin was one of the preferred safe havens during Turkey\'s currency crisis of 2021. Gold, meanwhile, hit a seven-week low of $1,896 per ounce on Tuesday and traded around $1,905 at press time. Argentina + Russia devaluation = Bitcoin bid? — Ilan Solot 🦇🔊 (@isolot) August 14, 2023 Perhaps the ongoing hardening of the nominal and inflation-adjusted U.S. government bond yields, one of the key factors responsible for the latest slide in RUB and ARS, and the uptick in the dollar index, is keeping bitcoin and gold from rallying. Story continues The real or inflation-adjusted yield on the U.S. 10-year note has increased to 1.83%, the highest since 2009, denting the appeal of investing in zero-yielding assets like gold and bitcoin. The nominal 10-year yield has established a firm foothold above 4%. Per Halpenny, further rise in yields could affect broader markets. "If U.S. yields continue to drift higher from here, we are likely to see further \'cracks\' appear that could have greater implications for broader markets," Halpenny added. View comments', '• Latest slide in Russian ruble and Argentina\'s peso reveals cracks in the global market, according to one bank.\n• Still, perceived haven assets remain under pressure as Treasury yields and dollar index rise.\nPerceived safe havens like bitcoin (BTC) and gold struggle to gather upside traction even as signs of cracks in the global market begin to appear in the form of volatility in the fiat currencies of distressed nations.\nOn Monday, the Russian ruble (RUB) depreciated to 102 for U.S. dollar, reaching the lowest since March 2022. The slide took the cumulative year-to-date loss to 33%, highlighting investors\' growing angst about Kremlin\'s dwindling energy revenues and forcing the central bank to hike rates to 12% from 8.5%, an emergency move.\nMeanwhile, Argentina devalued its already-weak peso (ARS) by 18%, sending it lower to 350 per dollar compared to 287 per dollar last Friday. The peso is down 98% this year.\nThe fresh slide in RUB and ARS represents early signs of stress in global financial markets, according to MUFG Bank. Since the Federal Reserve began raising interest rates in March last year, many have beenbiased towardperceived haven assets on fears that the so-called tightening cyclewill break somethingin the global market.\n"It\'s not that either ARS or RUB depreciation will have direct reverberations for the broader markets, they won\'t but the developments do highlight the draw of the U.S. dollar as yields continue to move higher. Weak links are nearly always the first to reveal \'cracks\' and certainly ARS and RUB are weak links," Derek Halpenny, head of research global markets EMEA and international securities, said in a note to clients on Tuesday.\nSo far, the supposed signs of cracks have brought little safe-haven demand for bitcoin, disappointing expectations.\nThe leading cryptocurrency by market value, widely considered digital gold due to its finite supply, remains listless above $29,000, extending its multi-week dull price action. Bitcoin was one of the preferred safe havens during Turkey\'s currency crisis of 2021. Gold, meanwhile, hit a seven-week low of $1,896 per ounce on Tuesday and traded around $1,905 at press time.\nPerhaps the ongoing hardening of the nominal and inflation-adjusted U.S. government bond yields, one of the key factors responsible for the latest slide in RUB and ARS, and the uptick in the dollar index, is keeping bitcoin and gold from rallying.\nThe real or inflation-adjusted yield on the U.S. 10-year note has increased to 1.83%, the highest since 2009, denting the appeal of investing in zero-yielding assets like gold and bitcoin. The nominal 10-year yield has established a firm foothold above 4%.\nPer Halpenny, further rise in yields could affect broader markets.\n"If U.S. yields continue to drift higher from here, we are likely to see further \'cracks\' appear that could have greater implications for broader markets," Halpenny added.', '• Latest slide in Russian ruble and Argentina\'s peso reveals cracks in the global market, according to one bank.\n• Still, perceived haven assets remain under pressure as Treasury yields and dollar index rise.\nPerceived safe havens like bitcoin (BTC) and gold struggle to gather upside traction even as signs of cracks in the global market begin to appear in the form of volatility in the fiat currencies of distressed nations.\nOn Monday, the Russian ruble (RUB) depreciated to 102 for U.S. dollar, reaching the lowest since March 2022. The slide took the cumulative year-to-date loss to 33%, highlighting investors\' growing angst about Kremlin\'s dwindling energy revenues and forcing the central bank to hike rates to 12% from 8.5%, an emergency move.\nMeanwhile, Argentina devalued its already-weak peso (ARS) by 18%, sending it lower to 350 per dollar compared to 287 per dollar last Friday. The peso is down 98% this year.\nThe fresh slide in RUB and ARS represents early signs of stress in global financial markets, according to MUFG Bank. Since the Federal Reserve began raising interest rates in March last year, many have beenbiased towardperceived haven assets on fears that the so-called tightening cyclewill break somethingin the global market.\n"It\'s not that either ARS or RUB depreciation will have direct reverberations for the broader markets, they won\'t but the developments do highlight the draw of the U.S. dollar as yields continue to move higher. Weak links are nearly always the first to reveal \'cracks\' and certainly ARS and RUB are weak links," Derek Halpenny, head of research global markets EMEA and international securities, said in a note to clients on Tuesday.\nSo far, the supposed signs of cracks have brought little safe-haven demand for bitcoin, disappointing expectations.\nThe leading cryptocurrency by market value, widely considered digital gold due to its finite supply, remains listless above $29,000, extending its multi-week dull price action. Bitcoin was one of the preferred safe havens during Turkey\'s currency crisis of 2021. Gold, meanwhile, hit a seven-week low of $1,896 per ounce on Tuesday and traded around $1,905 at press time.\nPerhaps the ongoing hardening of the nominal and inflation-adjusted U.S. government bond yields, one of the key factors responsible for the latest slide in RUB and ARS, and the uptick in the dollar index, is keeping bitcoin and gold from rallying.\nThe real or inflation-adjusted yield on the U.S. 10-year note has increased to 1.83%, the highest since 2009, denting the appeal of investing in zero-yielding assets like gold and bitcoin. The nominal 10-year yield has established a firm foothold above 4%.\nPer Halpenny, further rise in yields could affect broader markets.\n"If U.S. yields continue to drift higher from here, we are likely to see further \'cracks\' appear that could have greater implications for broader markets," Halpenny added.', "In this article, we discuss 15 best performing stocks in the last 6 months. If you want to skip our detailed discussion on the stock market, head directly to 5 Best Performing Stocks in the Last 6 Months . As per BlackRock’s findings , equity performance has surpassed predictions in the first half of 2023. In spite of challenges such as banking pressures, increasing risk of recession, and a monetary policy significantly stricter than anticipated at the beginning of the year, stock markets have consistently advanced. Most economic forecasters expected the emergence of a recession in the United States by this point. Despite a rise of 500 basis points in interest rates and certain signs of economic weaknesses, the recession has not yet occurred. BlackRock has outlined four possible economic outcomes – very hard landing, characterized by severe breaking of the economy; hard landing, characterized by negative economic growth before inflation falls to 2%; no landing, showing a lack of change in growth or inflation; and soft landing, which assumes stable growth despite inflation. Don't Miss: 10 Worst Performing Commodities in 2023 Forbes reported that despite the Federal Reserve's decision to increase interest rates again, the upward momentum of the bull market continued throughout July. The current stage of this economic cycle suggests a strong likelihood that the stock market might achieve a record high during August. The markets have experienced a boost from mid-year earnings that outperformed expectations, but the real sense of optimism stems from the recognition that the Federal Reserve has effectively managed to curb inflation without triggering a recession. It is not certain yet whether this perspective will hold through the possibility of an additional rate increase. The upcoming months will ascertain whether the Federal Reserve can successfully avoid a recession despite the increasing rates. Michael Landsberg, Chief Investment Officer at Landsberg Bennett Private Wealth Management, warned investors of the possibility of another bout of inflation in August. He commented: Story continues “August is a historically volatile month for the stock market, as many market participants are on vacation. August’s volatility could be extra elevated if we see hotter-than-expected inflation readings in August, given the rise in gasoline and commodity prices over the past few weeks.” According to J.P. Morgan , there was notable variation in stock performance based on size, sectors, and styles in the first six months of 2023, occurring within an environment of significantly low levels of volatility. In the United States, unless the Federal Reserve takes proactive measures to ease conditions, experts anticipate a tougher economic environment for stocks during the second half of 2023. Dubravko Lakos-Bujas, Global Head of Equity Macro Strategy at J.P. Morgan stated: “Given that multiple expansion has been the main driver of performance year to date, we see unattractive risk-reward for equities and increasing investor complacency ahead of our expectation that the business cycle will further decelerate in the second half of the year.” Also Read: 15 Worst Performing Biotech Stocks in 2023 Investor’s Business Daily reported that the outlook for the stock market over the next half-year continues to be bullish following a steady yet uneven performance of stocks since January 2023. The past three months saw gains in the broader market. However, August has been rougher. As July ended, the S&P 500 recorded an increase of 3.1%, the NASDAQ Composite advanced by 4%, and the Dow Jones Industrial Average, comprising prominent blue-chip companies, saw a gain of nearly 3.4%. In August, so far the S&P 500 has experienced a decline of approximately 2%, the NASDAQ composite has dropped by 3.2%, while the Dow Jones Industrial Average has decreased by less than 0.7%. As the risk of further inflation remains, interest rates could continue to be a primary concern for investors. Despite recent positive data indicating a decrease in inflation, Wall Street still considers the likelihood that the United States Central Bank might implement a minimum 25-basis-point increase in short-term interest rates later in the year. While market giants like Microsoft Corporation (NASDAQ: MSFT ), Apple Inc. (NASDAQ: AAPL ), and Meta Platforms, Inc. (NASDAQ: META ) continue to dominate mainstream headlines, we discuss 15 best performing stocks in the last 6 months in this article. Our Methodology We used a stock screener and filtered out stocks with market caps above $2 billion as of August 15. We did this to eliminate extremely small companies which have volatile performance and are not an appropriate indicator of the market performance overall. Then, we sorted the stocks in the ascending order of their 6-month share price performance. From the resulting dataset, we selected the stocks with the highest 6-month share price gains as of August 15. The following stocks are arranged in the ascending order of their share price gains. 15 Best Performing Stocks in the Last 6 Months Image by Sergei Tokmakov Terms.Law from Pixabay Best Performing Stocks in the Last 6 Months 15. Upstart Holdings, Inc. (NASDAQ: UPST ) 6-Month Share Price Gains as of August 15: 61.14% Number of Hedge Fund Holders: 15 Upstart Holdings, Inc. (NASDAQ:UPST) manages a cloud-based artificial intelligence lending system within the United States. This system brings together consumer loan requests and links them with its network of the corporation's AI-enabled bank and credit union partners. On August 8, Upstart Holdings, Inc. (NASDAQ:UPST) announced a Q2 non-GAAP EPS of $0.06 and a revenue of $135.77 million, exceeding Wall Street estimates by $0.13 and $0.45 million, respectively. According to Insider Monkey’s first quarter database, 15 hedge funds were bullish on Upstart Holdings, Inc. (NASDAQ:UPST), compared to 16 in the prior quarter. Philippe Laffont’s Coatue Management is a prominent stakeholder of the company, with 1.6 million shares worth $26.4 million. Like Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Meta Platforms, Inc. (NASDAQ:META), Upstart Holdings, Inc. (NASDAQ:UPST) is one of the top stocks to watch for portfolio gains. Here is what Vulcan Value Partners has to say about Upstart Holdings Inc. (NASDAQ:UPST) in its Q2 2022 investor letter: “Upstart Holdings Inc. was a material detractor for the quarter. It was a mistake, and we sold our position. Upstart is an artificial intelligence (AI) and cloud-based lending platform. The company uses AI models that are designed to underwrite superior loans with lower interest rates, lower default rates, higher approval rates, and increased underwriting automation. When we purchased Upstart, we believed the company had an excellent product and the addressable market was large. Upstart’s results during 2021 were impressive. In the first quarter of 2022, the company reported solid results but lowered guidance and, more importantly, used its balance sheet to warehouse loans temporarily. The company’s decision to use its balance sheet to finance its growth surprised us and other market participants, and its stock price decreased dramatically. While we admire the management team, we are less confident in the company’s long-term prospects. It will be more difficult than we anticipated for Upstart to extend its competitive advantages with smaller banks into adjacent markets such as auto loans and mortgages. As a result, our value for Upstart is unstable and the company no longer qualifies for investment. We are following our discipline and reallocating capital into companies with more stable values.” 14. Marathon Digital Holdings, Inc. (NASDAQ: MARA ) 6-Month Share Price Gains as of August 15: 84.21% Number of Hedge Fund Holders: 13 Marathon Digital Holdings, Inc. (NASDAQ:MARA), one of the best performing stocks in the last 6 months, functions as a digital asset technology company specializing in the mining of digital assets within the United States. On August 8, Marathon Digital Holdings, Inc. (NASDAQ:MARA) reported a Q2 GAAP EPS of -$0.13 and a revenue of $81.8 million, falling short of Wall Street estimates by $0.07 and $1.65 million, respectively. According to Insider Monkey’s first quarter database, 13 hedge funds were bullish on Marathon Digital Holdings, Inc. (NASDAQ:MARA), compared to 14 funds in the prior quarter. Here is what Horizon Kinetics 1st/2nd Quarter Interim Commentary has to say about Marathon Digital Holdings, Inc. (NASDAQ:MARA) in its Q1 2022 investor letter : “Investors also tend to not give sufficient credit to the power of management to enhance or create additional value with such an asset. The commercialization of land requires considerable management expertise. This particular transaction involves two other parties that will build and operate up to 60 megawatts of bitcoin mining, which was stated could accommodate up to 2.0 Exahash of operational capacity. That is quite sizable. As a reference point, Marathon Digital Holdings (NASDAQ:MARA), which has a $1.0 billion stock mar
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-16
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $566,495,684,550
- Hash Rate: 424513880.24070114
- Transaction Count: 566878.0
- Unique Addresses: 669749.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.52
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: A cryptocurrency exchange called EDX Markets and backed by several Wall Street firms such as Charles Schwab, Citadel Securities, and Fidelity Digital Assets conducted its first trades on Tuesday, signaling some institutions aren’t hightailing it for the hills on crypto despite recent regulatory pressures in the U.S.
It aims to take elements of traditional finance and port them over to crypto, focussing on compliance and mitigating conflicts of interest. EDX also announced it closed a new funding round, bringing firms like GSR Markets and Miami International Holdings into the fold as well.
The exchange’s CEO, Jamil Nazarali, recognized in a statement that institutional investors want access to crypto markets through means that mirror established practices in finance.
BlackRock Bitcoin ETF Is the ‘Real Deal’—Is This Finally the One?
“EDX’s ability to attract new investors and partners in the face of sector headwinds demonstrates the strength of our platform and the demand for a safe and compliant cryptocurrency market,” he said. “We are committed to bringing the best of traditional finance to cryptocurrency markets.”
The way David Schwed, chief operating officer at Halborn Security puts it, EDX has built the infrastructure Wall Street banks will need as they enter the space. As countless B2B startups have discovered, it pays to be a trusted vendor to big firms.
“They're building the plumbing and the middleware and the technology to kind of offer that,” he toldDecrypt. “So like this, to me, is the right move to build right now. Because whoever enters the space and wants to build on the endpoints on the regulated side is going to need this type of technology.”
SEC Labels Algorand and Five Other Tokens as Securities in Bittrex Lawsuit
EDX’s first trades come just days after BlackRock, the world’s largest asset manager, announced a bit to establish the U.S.’s firstspot Bitcoin ETF. And as the Securities and Exchange Commission cracks down on the industry’s preeminent players, Binance and Coinbase, EDX appears poised to help Wall Street enter a crypto fray in flux.
“The window to front-run institutional demand for Bitcoin is closing,” MicroStrategy founder and Executive Chairman Michael Saylorsaidin a Tweet referencing EDX, among the many commentators in crypto that believe Wall Street is making a concerted push.
Unlike the leading cryptocurrency exchanges of today that offer customers a panoply of digital currencies, EDX offers investors four coins: Bitcoin, Ethereum Litecoin, and Bitcoin Cash. In terms of market capitalization, the tokens account for 67% of the entire crypto market, according toCoinGecko.
The limited listings are likely by design. SEC Chair Gary Gensler has said “everything but Bitcoin” is a security, and the agencyensnaredseveral of the industry’s leading altcoins in lawsuits against Binance and Coinbase weeks ago.
Prior to his role at EDX, Nazarali served as the global head of business development at Citadel Securities, a leading market maker in the U.S. owned by entrepreneur Ken Griffin. Famously, Griffin beat out a group of people in a Sotheby’s auction organized under a DAO thattried to buy a copyof the U.S. Constitution....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["Bitcoin and Ether fell on Thursday morning in Asia, along with other top 10 non-stablecoin cryptos. Bitcoin briefly dipped below $28,500, while Ether’s losses took it below the psychologically important $1,800 threshold. Smaller altcoins such as Dogecoin, Solana and Ripple suffered the biggest drops. In more bullish news, Coinbase Global received approval to offer crypto futures to U.S. retail investors. The Forkast 500 NFT Index was down, although market sentiment remains positive amid a prolonged increase in global transactions. U.S. equity futures traded mixed after another day of losses Wednesday. The release of the minutes for July’s Federal Reserve meeting on interest rates has cast a shadow over equities, the mood music now suggesting a prolonged period of elevated rates or even another hike. Another down day for crypto Bitcoin fell 0.95% in the last 24 hours to US$28,551.83 as of 9:00 a.m. in Hong Kong, after briefly falling below the $28,500 threshold earlier in the morning. The largest crypto by market capitalization logged a weekly loss of 3.51%, according to CoinMarketCap data . Ether also lost 1.80% to US$1,794.91 — below the psychologically important $1,800 level — for a 3.28% drop in the past seven days. All other top 10 non-stablecoin cryptocurrencies were down. Dogecoin was the biggest loser among the top 10, dropping 5.01% to US$0.06731 for a weekly loss of 10.07%. Solana followed in terms of losses, dipping 4.25% to US$22.83. The token fell 5.98% in the past week. “Larger currencies have seen less pressure than smaller altcoins,” wrote Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro, in an emailed statement. “Rising U.S. Treasury yields put pressure on riskier assets,” Kuptsikevich explained. The losses arrive in the midst of more positive news for the crypto market. On Wednesday, Coinbase Global — the largest cryptocurrency exchange in the U.S. — announced that it has received approval from the National Futures Association to offer crypto futures to U.S. retail investors. Previously, only institutional customers could trade crypto futures on the platform. Story continues Coinbase called it a “watershed moment,” celebrating the win despite facing securities violation charges from the U.S. Securities and Exchange Commission (SEC). Major moment for crypto regulatory clarity in the U.S. This has been a multi-year process toward approval, and we're excited to finally be launching federally regulated crypto derivatives with margin to our U.S. customers. When there is a clear path to register, we do. https://t.co/TxSOAIpoPj — Brian Armstrong 🛡️ (@brian_armstrong) August 16, 2023 “They now have an approved, compliant [Futures Commission Merchant status] and they understand the nuances of crypto markets,” wrote Chris Perkins, president and managing partner at New York-based investment advisor CoinFund. “It’s an important step forward in cultivating deep, liquid derivative markets — which are very much needed. This should be very good for Coinbase, and excellent for crypto markets,” Perkins added. Ripple’s XRP token also lost 3.66% to US$0.5862, posting a weekly loss of 8.08%. On July 13, Ripple appeared to score a victory in its ongoing legal battle with the SEC. A New York court ruled that the sale of XRP on public exchanges does not violate securities laws. However, that aspect of the case is again under scrutiny as, on Aug. 9, the SEC asked for a review of the ruling — contributing to the downward pressure on XRP’s price. The total crypto market capitalization moved down 1.47% in the past 24 hours to US$1.14 trillion, while trading volume rose 13.64% to US$33.76 billion. Daily NFT transactions hit historic levels The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index fell 0.76% in the past 24 hours to 2457.08 as of 08:45 a.m. in Hong Kong. The index shows a 1.23% loss for the week. Forkast’s Ethereum, Solana and Cardano NFT indexes logged losses, while the index for Polygon gained. Total NFT trading volume dipped 7.72% in the past 24 hours to US$15.01 million, according to data from CryptoSlam. Volumes on the Ethereum, Polygon and ImmutableX blockchains logged losses, while volume on Solana and Mythos gained. On Wednesday, the total number of global NFT transactions reached a new milestone, marking an all-time high of 617,619, up from 595,209 on Tuesday. “The NFT market is maturing right in front of us and we’re hitting historic levels on a daily basis,” said Yehudah Petscher, NFT strategist at Forkast Labs. “Sales volume isn’t my measure for how healthy the NFT ecosystem is, it’s the buyers, sellers and it’s transactions,” said Petscher. “I am so bullish on NFTs right now.” Much of that optimism, Petscher said, is based on a decline in NFT prices, with the average price of a single NFT now US$22.08, down from US37.85 a week earlier. “Average sale prices, I want to point out again they continue to decline and that’s a very, very good thing. We want to bring in the masses. We want our friends and families to come into NFTs,” Petscher added. DMarket, a collection linked to Mythos network-based blockchain games, topped the NFT collections chart by trade volume on CryptoSlam, adding 0.45% to US$970,811. Ethereum-based DeGods came in second despite a 38.75% slump to US$922,882. The collection recently launched its “Season 3” collection update on Sunday. New-entry The Heist, an NFT collection based on the strategy game of the same name, placed third with a trade volume of US$756,980. Fed minutes signpost potential hikes ahead U.S. Federal Reserve Board Chairman Jerome Powell | Image: Getty Images U.S. stock futures traded mixed as of 10:45 a.m. in Hong Kong following a decline across all three major indexes during regular trading Wednesday. Wednesday’s release of the minutes from the U.S. Federal Reserve’s July meeting has put a dampener on investor sentiment. The discussion revealed concerns among Fed members that additional interest rate hikes may be needed to control inflation. The minutes stated that “with inflation still well above the Committee’s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.” Following the release of the meeting minutes, analysts at the CME FedWatch Tool gave a 13.5% chance that the Federal Reserve will raise interest rates in September, up from 9.5% on Wednesday. The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level since January 2001. The main stock indexes in Asia — China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi — all posted losses on Thursday morning, echoing bearish sentiment in the U.S. The Shanghai Composite fell 0.15% to around 3,145, its lowest level since early January. That reading combined with weak economic data and the nation’s ongoing property sector debt crisis points to a downturn in the Chinese economy. “Prolonged weakness in property construction will add to destocking pressures in the industrial space and depress consumption demand as well,” said Tao Wang, economist at UBS Investment Bank, according to Reuters. “In such a case, economic momentum may stay subdued in the rest of the year and China may miss this year’s growth target of around 5%,” Wang added. China has also stopped releasing youth unemployment data after the figure hit a record high of 21.3% in June. The suspension follows a string of downbeat economic reports in China, including retail sales and industrial output, raising fears about a slide into recession. Meanwhile, U.S. retail giant Target reported a slump in quarterly revenue. The US$24.77 billion in Q2 was lower than the estimated US$25.16 billion. However, Target shares still added 2.96% on Wednesday. Major U.S. retailer Walmart is set to release its quarterly results on Thursday. (Updates with equities section.)", 'Bitcoin and Ether fell on Thursday morning in Asia, along with other top 10 non-stablecoin cryptos. Bitcoin briefly dipped below $28,500, while Ether’s losses took it below the psychologically important $1,800 threshold. Smaller altcoins such as Dogecoin, Solana and Ripple suffered the biggest drops. In more bullish news, Coinbase Global received approval to offer crypto futures to U.S. retail investors. The Forkast 500 NFT Index was down, although market sentiment remains positive amid a prolonged increase in global transactions. U.S. equity futures traded mixed after another day of losses Wednesday. The release of the minutes for July’s Federal Reserve meeting on interest rates has cast a shadow over equities, the mood music now suggesting a prolonged period of elevated rates or even another hike.\nBitcoin fell 0.95% in the last 24 hours to US$28,551.83 as of 9:00 a.m. in Hong Kong, after briefly falling below the $28,500 threshold earlier in the morning. The largest crypto by market capitalization logged a weekly loss of 3.51%, according to CoinMarketCapdata.\nEther also lost 1.80% to US$1,794.91 — below the psychologically important $1,800 level — for a 3.28% drop in the past seven days.\nAll other top 10 non-stablecoin cryptocurrencies were down. Dogecoin was the biggest loser among the top 10, dropping 5.01% to US$0.06731 for a weekly loss of 10.07%. Solana followed in terms of losses, dipping 4.25% to US$22.83. The token fell 5.98% in the past week.\n“Larger currencies have seen less pressure than smaller altcoins,” wrote Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro, in an emailed statement.\n“Rising U.S. Treasury yields put pressure on riskier assets,” Kuptsikevich explained.\nThe losses arrive in the midst of more positive news for the crypto market.\nOn Wednesday, Coinbase Global — the largest cryptocurrency exchange in the U.S. —announcedthat it has received approval from the National Futures Association to offer crypto futures to U.S. retail investors. Previously, only institutional customers could trade crypto futures on the platform.\nCoinbase called it a “watershed moment,” celebrating the win despite facing securities violation charges from the U.S. Securities and Exchange Commission (SEC).\n“They now have an approved, compliant [Futures Commission Merchant status] and they understand the nuances of crypto markets,” wrote Chris Perkins, president and managing partner at New York-based investment advisor CoinFund.\n“It’s an important step forward in cultivating deep, liquid derivative markets — which are very much needed. This should be very good for Coinbase, and excellent for crypto markets,” Perkins added.\nRipple’s XRP token also lost 3.66% to US$0.5862, posting a weekly loss of 8.08%. On July 13, Ripple appeared to score a victory in its ongoing legal battle with the SEC. A New York courtruledthat the sale of XRP on public exchanges does not violate securities laws.\nHowever, that aspect of the case is again under scrutiny as, on Aug. 9, the SECaskedfor a review of the ruling — contributing to the downward pressure on XRP’s price.\nThe total crypto market capitalization moved down 1.47% in the past 24 hours to US$1.14 trillion, while trading volume rose 13.64% to US$33.76 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe main Forkast 500 NFT index fell 0.76% in the past 24 hours to 2457.08 as of 08:45 a.m. in Hong Kong. The index shows a 1.23% loss for the week.\nForkast’s Ethereum, Solana and Cardano NFT indexes logged losses, while the index for Polygon gained.\nTotal NFT trading volume dipped 7.72% in the past 24 hours to US$15.01 million, according todatafrom CryptoSlam. Volumes on the Ethereum, Polygon and ImmutableX blockchains logged losses, while volume on Solana and Mythos gained.\nOn Wednesday, the total number of global NFT transactions reached a new milestone, marking an all-time high of 617,619, up from 595,209 on Tuesday.\n“The NFT market is maturing right in front of us and we’re hitting historic levels on a daily basis,” said Yehudah Petscher, NFT strategist at Forkast Labs.\n“Sales volume isn’t my measure for how healthy the NFT ecosystem is, it’s the buyers, sellers and it’s transactions,” said Petscher. “I am so bullish on NFTs right now.”\nMuch of that optimism, Petscher said, is based on a decline in NFT prices, with the average price of a single NFT now US$22.08, down from US37.85 a week earlier.\n“Average sale prices, I want to point out again they continue to decline and that’s a very, very good thing. We want to bring in the masses. We want our friends and families to come into NFTs,” Petscher added.\nDMarket, a collection linked to Mythos network-based blockchain games, topped the NFT collections chart by trade volume on CryptoSlam, adding 0.45% to US$970,811.\nEthereum-based DeGods came in second despite a 38.75% slump to US$922,882. The collection recently launched its “Season 3” collection update on Sunday. New-entry The Heist, an NFT collection based on the strategy game of the same name, placed third with a trade volume of US$756,980.\nU.S. stock futures traded mixed as of 10:45 a.m. in Hong Kong following a decline across all three major indexes during regular trading Wednesday.\nWednesday’s release of the minutes from the U.S. Federal Reserve’s July meeting has put a dampener on investor sentiment. The discussionrevealedconcerns among Fed members that additional interest rate hikes may be needed to control inflation.\nThe minutes stated that “with inflation still well above the Committee’s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.”\nFollowing the release of the meeting minutes, analysts at the CME FedWatch Tool gave a13.5%chance that the Federal Reserve will raise interest rates in September, up from 9.5% on Wednesday. The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level since January 2001.\nThe main stock indexes in Asia — China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi — all posted losses on Thursday morning, echoing bearish sentiment in the U.S.\nThe Shanghai Composite fell 0.15% to around 3,145, its lowest level since early January. That reading combined with weak economic data and the nation’s ongoing property sector debt crisis points to a downturn in the Chinese economy.\n“Prolonged weakness in property construction will add to destocking pressures in the industrial space and depress consumption demand as well,” said Tao Wang, economist at UBS Investment Bank,according toReuters.\n“In such a case, economic momentum may stay subdued in the rest of the year and China may miss this year’s growth target of around 5%,” Wang added.\nChina has also stopped releasing youth unemployment data after the figure hit a record high of 21.3% in June. The suspension follows a string of downbeat economic reports in China, including retail sales and industrial output, raisingfearsabout a slide into recession.\nMeanwhile, U.S. retail giant Target reported aslumpin quarterly revenue. The US$24.77 billion in Q2 was lower than the estimated US$25.16 billion. However, Target shares still added 2.96% on Wednesday.\nMajor U.S. retailer Walmart is set to release its quarterly results on Thursday.\n(Updates with equities section.)', 'Bitcoin and Ether fell on Thursday morning in Asia, along with other top 10 non-stablecoin cryptos. Bitcoin briefly dipped below $28,500, while Ether’s losses took it below the psychologically important $1,800 threshold. Smaller altcoins such as Dogecoin, Solana and Ripple suffered the biggest drops. In more bullish news, Coinbase Global received approval to offer crypto futures to U.S. retail investors. The Forkast 500 NFT Index was down, although market sentiment remains positive amid a prolonged increase in global transactions. U.S. equity futures traded mixed after another day of losses Wednesday. The release of the minutes for July’s Federal Reserve meeting on interest rates has cast a shadow over equities, the mood music now suggesting a prolonged period of elevated rates or even another hike.\nBitcoin fell 0.95% in the last 24 hours to US$28,551.83 as of 9:00 a.m. in Hong Kong, after briefly falling below the $28,500 threshold earlier in the morning. The largest crypto by market capitalization logged a weekly loss of 3.51%, according to CoinMarketCapdata.\nEther also lost 1.80% to US$1,794.91 — below the psychologically important $1,800 level — for a 3.28% drop in the past seven days.\nAll other top 10 non-stablecoin cryptocurrencies were down. Dogecoin was the biggest loser among the top 10, dropping 5.01% to US$0.06731 for a weekly loss of 10.07%. Solana followed in terms of losses, dipping 4.25% to US$22.83. The token fell 5.98% in the past week.\n“Larger currencies have seen less pressure than smaller altcoins,” wrote Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro, in an emailed statement.\n“Rising U.S. Treasury yields put pressure on riskier assets,” Kuptsikevich explained.\nThe losses arrive in the midst of more positive news for the crypto market.\nOn Wednesday, Coinbase Global — the largest cryptocurrency exchange in the U.S. —announcedthat it has received approval from the National Futures Association to offer crypto futures to U.S. retail investors. Previously, only institutional customers could trade crypto futures on the platform.\nCoinbase called it a “watershed moment,” celebrating the win despite facing securities violation charges from the U.S. Securities and Exchange Commission (SEC).\n“They now have an approved, compliant [Futures Commission Merchant status] and they understand the nuances of crypto markets,” wrote Chris Perkins, president and managing partner at New York-based investment advisor CoinFund.\n“It’s an important step forward in cultivating deep, liquid derivative markets — which are very much needed. This should be very good for Coinbase, and excellent for crypto markets,” Perkins added.\nRipple’s XRP token also lost 3.66% to US$0.5862, posting a weekly loss of 8.08%. On July 13, Ripple appeared to score a victory in its ongoing legal battle with the SEC. A New York courtruledthat the sale of XRP on public exchanges does not violate securities laws.\nHowever, that aspect of the case is again under scrutiny as, on Aug. 9, the SECaskedfor a review of the ruling — contributing to the downward pressure on XRP’s price.\nThe total crypto market capitalization moved down 1.47% in the past 24 hours to US$1.14 trillion, while trading volume rose 13.64% to US$33.76 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe main Forkast 500 NFT index fell 0.76% in the past 24 hours to 2457.08 as of 08:45 a.m. in Hong Kong. The index shows a 1.23% loss for the week.\nForkast’s Ethereum, Solana and Cardano NFT indexes logged losses, while the index for Polygon gained.\nTotal NFT trading volume dipped 7.72% in the past 24 hours to US$15.01 million, according todatafrom CryptoSlam. Volumes on the Ethereum, Polygon and ImmutableX blockchains logged losses, while volume on Solana and Mythos gained.\nOn Wednesday, the total number of global NFT transactions reached a new milestone, marking an all-time high of 617,619, up from 595,209 on Tuesday.\n“The NFT market is maturing right in front of us and we’re hitting historic levels on a daily basis,” said Yehudah Petscher, NFT strategist at Forkast Labs.\n“Sales volume isn’t my measure for how healthy the NFT ecosystem is, it’s the buyers, sellers and it’s transactions,” said Petscher. “I am so bullish on NFTs right now.”\nMuch of that optimism, Petscher said, is based on a decline in NFT prices, with the average price of a single NFT now US$22.08, down from US37.85 a week earlier.\n“Average sale prices, I want to point out again they continue to decline and that’s a very, very good thing. We want to bring in the masses. We want our friends and families to come into NFTs,” Petscher added.\nDMarket, a collection linked to Mythos network-based blockchain games, topped the NFT collections chart by trade volume on CryptoSlam, adding 0.45% to US$970,811.\nEthereum-based DeGods came in second despite a 38.75% slump to US$922,882. The collection recently launched its “Season 3” collection update on Sunday. New-entry The Heist, an NFT collection based on the strategy game of the same name, placed third with a trade volume of US$756,980.\nU.S. stock futures traded mixed as of 10:45 a.m. in Hong Kong following a decline across all three major indexes during regular trading Wednesday.\nWednesday’s release of the minutes from the U.S. Federal Reserve’s July meeting has put a dampener on investor sentiment. The discussionrevealedconcerns among Fed members that additional interest rate hikes may be needed to control inflation.\nThe minutes stated that “with inflation still well above the Committee’s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.”\nFollowing the release of the meeting minutes, analysts at the CME FedWatch Tool gave a13.5%chance that the Federal Reserve will raise interest rates in September, up from 9.5% on Wednesday. The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level since January 2001.\nThe main stock indexes in Asia — China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi — all posted losses on Thursday morning, echoing bearish sentiment in the U.S.\nThe Shanghai Composite fell 0.15% to around 3,145, its lowest level since early January. That reading combined with weak economic data and the nation’s ongoing property sector debt crisis points to a downturn in the Chinese economy.\n“Prolonged weakness in property construction will add to destocking pressures in the industrial space and depress consumption demand as well,” said Tao Wang, economist at UBS Investment Bank,according toReuters.\n“In such a case, economic momentum may stay subdued in the rest of the year and China may miss this year’s growth target of around 5%,” Wang added.\nChina has also stopped releasing youth unemployment data after the figure hit a record high of 21.3% in June. The suspension follows a string of downbeat economic reports in China, including retail sales and industrial output, raisingfearsabout a slide into recession.\nMeanwhile, U.S. retail giant Target reported aslumpin quarterly revenue. The US$24.77 billion in Q2 was lower than the estimated US$25.16 billion. However, Target shares still added 2.96% on Wednesday.\nMajor U.S. retailer Walmart is set to release its quarterly results on Thursday.\n(Updates with equities section.)', '• US stocks closed lower on Wednesday after Fed minutes showed officials remain worried about inflation.\n• Policymakers at the July meeting agreed that inflation still poses risk of a resurgence.\n• Markets have been confident in their belief that the July rate hike was the last of the Fed\'s cycle.\nUS stocks ended lower on Wednesday after minutes from the last Federal Reserve meeting indicated that central bankers think inflation is still high enough to potentially warrant more interest rate hikes.\nThe minutes of the July Federal Open Market Committee meeting come as markets have been feeling confident that July\'s 25-basis-point rate increase marked the final hike of the Fed\'s aggressive monetary policy tightening cycle.\n"With inflation still well above the Committee\'s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy," the meeting minutes read.\n"In discussing the policy outlook, participants continued to judge that it was critical that the stance of monetary policy be sufficiently restrictive to return inflation to the Committee\'s 2% objective over time."\nSome market observers said that the Fed\'s tone indicates its most aggressive moves are likely done, and even another quarter-point hike shouldn\'t deter investor confidence that the end of the rate hike cycle is in sight.\n"The Fed wants to talk tough on inflation, but it\'s obvious they are done with rate hikes. These minutes don\'t signal a pivot back to large rate hikes," Jamie Cox, managing partner at Harris Financial Group, said.\nStill, others warned that investors should brace for even more hawkish Fed moves.\n"Recent third quarter GDP estimates, coupled with fresh retail sales data, suggest a much more robust underpinning to the economy, certainly not what the Fed wants to see as they navigate the so-called \'last mile\' towards achieving price stability," Quincy Krosby, chief global strategist at LPL Financial, said. "The July 26 rate hike was most likely not a one and done as the latest round of data suggests."\nOdds of another rate hike at the September meeting ticked slightly higher after the July minutes, showing traders think there\'s an 88% chance the Fed holds steady compared to odds of over 95% before the minutes were released.\nThe Fed will have another inflation report and another jobs report to sift through before it makes another policy decision.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Wednesday:\n• S&P 500:4,404.33, down 0.76%\n• Dow Jones Industrial Average:34,765.74, down 0.52% (180.65 points)\n• Nasdaq Composite:13,474.63, down 1.15%\nHere\'s what else is going on today:\n• An economist warned deflation may be in the cardsas stock and real estate prices look set for a correction.\n• China\'s banks have dialed back lendingto the lowest level in 14 years as the country\'s economic woes pile up.\n• The ruble jumped as Putin met with officialsto discuss measures to prop up the Russian currency after it fell under $0.01 this week.\n• The approval of a spot bitcoin ETF in the USwould send the cryptocurrency to $180,000, Fundstrat\'s Tom Lee said.\nIn commodities, bonds, and crypto:\n• Oil prices were lower.West Texas Intermediatecrude oil dropped 2.2% to $79.19 a barrel.Brent, the international benchmark, fell 1.9 % to $83.27 a barrel.\n• Goldfell 0.6% to $1,923.50 per ounce.\n• The yield on the 10-year Treasury bond rose four basis points to 4.268%\n• Bitcoindipped to $29,113.\nRead the original article onBusiness Insider', 'Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City. Michael M. Santiago/Getty Images US stocks closed lower on Wednesday after Fed minutes showed officials remain worried about inflation. Policymakers at the July meeting agreed that inflation still poses risk of a resurgence. Markets have been confident in their belief that the July rate hike was the last of the Fed\'s cycle. US stocks ended lower on Wednesday after minutes from the last Federal Reserve meeting indicated that central bankers think inflation is still high enough to potentially warrant more interest rate hikes. The minutes of the July Federal Open Market Committee meeting come as markets have been feeling confident that July\'s 25-basis-point rate increase marked the final hike of the Fed\'s aggressive monetary policy tightening cycle. "With inflation still well above the Committee\'s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy," the meeting minutes read. "In discussing the policy outlook, participants continued to judge that it was critical that the stance of monetary policy be sufficiently restrictive to return inflation to the Committee\'s 2% objective over time." Some market observers said that the Fed\'s tone indicates its most aggressive moves are likely done, and even another quarter-point hike shouldn\'t deter investor confidence that the end of the rate hike cycle is in sight. "The Fed wants to talk tough on inflation, but it\'s obvious they are done with rate hikes. These minutes don\'t signal a pivot back to large rate hikes," Jamie Cox, managing partner at Harris Financial Group, said. Still, others warned that investors should brace for even more hawkish Fed moves. "Recent third quarter GDP estimates, coupled with fresh retail sales data, suggest a much more robust underpinning to the economy, certainly not what the Fed wants to see as they navigate the so-called \'last mile\' towards achieving price stability," Quincy Krosby, chief global strategist at LPL Financial, said. "The July 26 rate hike was most likely not a one and done as the latest round of data suggests." Story continues Odds of another rate hike at the September meeting ticked slightly higher after the July minutes, showing traders think there\'s an 88% chance the Fed holds steady compared to odds of over 95% before the minutes were released. The Fed will have another inflation report and another jobs report to sift through before it makes another policy decision. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Wednesday: S&P 500 : 4,404.33, down 0.76% Dow Jones Industrial Average : 34,765.74, down 0.52% (180.65 points) Nasdaq Composite : 13,474.63, down 1.15% Here\'s what else is going on today: An economist warned deflation may be in the cards as stock and real estate prices look set for a correction. China\'s banks have dialed back lending to the lowest level in 14 years as the country\'s economic woes pile up. The ruble jumped as Putin met with officials to discuss measures to prop up the Russian currency after it fell under $0.01 this week. The approval of a spot bitcoin ETF in the US would send the cryptocurrency to $180,000, Fundstrat\'s Tom Lee said. In commodities, bonds, and crypto: Oil prices were lower. West Texas Intermediate crude oil dropped 2.2% to $79.19 a barrel. Brent , the international benchmark, fell 1.9 % to $83.27 a barrel. Gold fell 0.6% to $1,923.50 per ounce. The yield on the 10-year Treasury bond rose four basis points to 4.268% Bitcoin dipped to $29,113. Read the original article on Business Insider', 'Bitcoin (BTC) and ether (ETH) futures traders took on some of the largest losses in over a month as prices moved under support levels in the past two days - breaking down from a period of stagnancy. Bitcoin slumped to just under $28,500 late on Wednesday, marking one of the largest two-day price drops since mid-June. Bitcoin weakness caused majors, such as ether, XRP and solana (SOL) to follow suit, falling as much as 5%. Liquidations on futures tracking major tokens crossed the $160 million mark in the past 24 hours, pushing to over $320 million in losses since the start of this week. Such losses come amid one of the lowest volatility periods for bitcoin. Bitcoin futures racked up nearly $50 million in losses, followed by ether at $22 million and litecoin (LTC) at $5 million. Traders of bitcoin cash (BCH), solana, and XRP took on nearly $4.5 million in losses apiece. Long trades, or bets on higher prices, accounted for 90% of the total liquidations, Coinglass data shows. Liquidation occurs when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. This happens when a trader is unable to meet the margin requirements for a leveraged position or fails to have sufficient funds to keep the trade open. Large liquidations can signal the local top or bottom of a price move, which may allow traders to position themselves accordingly. Open interest, or the number of unsettled contracts, rose 1.16%, meaning traded opened more positions but ultimately used significantly lesser leverage – suggesting lesser risk-on sentiment. Meanwhile, trading firm QCP Capital said in a Telegram broadcast earlier this week that it expected prices to gradually fall lower in the immediate absence of market catalysts. It added that price levels of between $24,000 to $26,000 for bitcoin could be expected in the coming months.”', 'Bitcoin (BTC) and ether (ETH) futures traders took on some of the largest losses in over a month as prices moved under support levels in the past two days - breaking down from a period of stagnancy.\nBitcoin slumped to just under $28,500 late on Wednesday, marking one of the largest two-day price drops since mid-June. Bitcoin weakness caused majors, such as ether, XRP and solana (SOL) to follow suit, falling as much as 5%.\nLiquidations on futures tracking major tokens crossed the $160 million mark in the past 24 hours, pushing to over $320 million in losses since the start of this week. Such losses come amid one of the lowest volatility periods for bitcoin.\nBitcoin futures racked up nearly $50 million in losses, followed by ether at $22 million and litecoin (LTC) at $5 million. Traders of bitcoin cash (BCH), solana, and XRP took on nearly $4.5 million in losses apiece.\nLong trades, or bets on higher prices, accounted for 90% of the total liquidations, Coinglass data shows.\nLiquidation occurs when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. This happens when a trader is unable to meet the margin requirements for a leveraged position or fails to have sufficient funds to keep the trade open.\nLarge liquidations can signal the local top or bottom of a price move, which may allow traders to position themselves accordingly.\nOpen interest, or the number of unsettled contracts, rose 1.16%, meaning traded opened more positions but ultimately used significantly lesser leverage – suggesting lesser risk-on sentiment.\nMeanwhile, trading firm QCP Capital said in a Telegram broadcast earlier this week that it expected prices to gradually fall lower in the immediate absence of market catalysts. It added that price levels of between $24,000 to $26,000 for bitcoin could be expected in the coming months.”', 'Bitcoin (BTC) and ether (ETH) futures traders took on some of the largest losses in over a month as prices moved under support levels in the past two days - breaking down from a period of stagnancy.\nBitcoin slumped to just under $28,500 late on Wednesday, marking one of the largest two-day price drops since mid-June. Bitcoin weakness caused majors, such as ether, XRP and solana (SOL) to follow suit, falling as much as 5%.\nLiquidations on futures tracking major tokens crossed the $160 million mark in the past 24 hours, pushing to over $320 million in losses since the start of this week. Such losses come amid one of the lowest volatility periods for bitcoin.\nBitcoin futures racked up nearly $50 million in losses, followed by ether at $22 million and litecoin (LTC) at $5 million. Traders of bitcoin cash (BCH), solana, and XRP took on nearly $4.5 million in losses apiece.\nLong trades, or bets on higher prices, accounted for 90% of the total liquidations, Coinglass data shows.\nLiquidation occurs when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. This happens when a trader is unable to meet the margin requirements for a leveraged position or fails to have sufficient funds to keep the trade open.\nLarge liquidations can signal the local top or bottom of a price move, which may allow traders to position themselves accordingly.\nOpen interest, or the number of unsettled contracts, rose 1.16%, meaning traded opened more positions but ultimately used significantly lesser leverage – suggesting lesser risk-on sentiment.\nMeanwhile, trading firm QCP Capital said in a Telegram broadcast earlier this week that it expected prices to gradually fall lower in the immediate absence of market catalysts. It added that price levels of between $24,000 to $26,000 for bitcoin could be expected in the coming months.”', 'Bitcoin\'s (BTC) slow decline from the July peak near $32,000 has traders focusing on a trendline to indicate the cryptocurrency\'s directions.\nThe leading cryptocurrency has rallied over 70% this year in a textbook bullish price action, comprising higher swing lows and higher swing highs.\nThe bullish trendline in consideration connects the early January low and the swing lows registered in March and June. As of writing, the trendline was located below $28,000, with bitcoin changing hands near $28,600.\nThe trendline violation would invalidate the bullish bias, according to Peter Brandt, CEO of Factor LLC.\n"As a swing trader, I would respect the violation of the trendline. So, my positions would be either short or flat," Brandt, who has been trading foreign exchange and commodity markets for over thirty years,tweetedWednesday.\n"Only if a bear trap is actually \'sprung\' would I consider it a bullish development. I strongly prefer horizontal chart construction," Brandt added.\nA bear trap will be confirmed if prices quickly reverse a potential trendline breakdown, leaving sellers on the wrong side of the market. Failed breakdowns of key support levels are widely considered strong bullish signals.\nPer Markus Thielen, head of research and strategy at crypto services provider Matrixport, potential invalidation of the trendline could yield deeper losses.\n"Prices might fall back and re-test the $25,000 support level associated with the Blackrock Bitcoin ETF filing [if the rising trendline is violated]. Investors are well advised to keep their crypto exposure to a minimum and use options," Thielen said in a note to clients on Thursday.\nBitcoin rose past the stiff resistance of $25,000 in March, flipping the said level into support, which was put to the test in the first half of June before Blackrock filed for a spot bitcoin exchange-traded fund.', 'Bitcoin\'s (BTC) slow decline from the July peak near $32,000 has traders focusing on a trendline to indicate the cryptocurrency\'s directions.\nThe leading cryptocurrency has rallied over 70% this year in a textbook bullish price action, comprising higher swing lows and higher swing highs.\nThe bullish trendline in consideration connects the early January low and the swing lows registered in March and June. As of writing, the trendline was located below $28,000, with bitcoin changing hands near $28,600.\nThe trendline violation would invalidate the bullish bias, according to Peter Brandt, CEO of Factor LLC.\n"As a swing trader, I would respect the violation of the trendline. So, my positions would be either short or flat," Brandt, who has been trading foreign exchange and commodity markets for over thirty years,tweetedWednesday.\n"Only if a bear trap is actually \'sprung\' would I consider it a bullish development. I strongly prefer horizontal chart construction," Brandt added.\nA bear trap will be confirmed if prices quickly reverse a potential trendline breakdown, leaving sellers on the wrong side of the market. Failed breakdowns of key support levels are widely considered strong bullish signals.\nPer Markus Thielen, head of research and strategy at crypto services provider Matrixport, potential invalidation of the trendline could yield deeper losses.\n"Prices might fall back and re-test the $25,000 support level associated with the Blackrock Bitcoin ETF filing [if the rising trendline is violated]. Investors are well advised to keep their crypto exposure to a minimum and use options," Thielen said in a note to clients on Thursday.\nBitcoin rose past the stiff resistance of $25,000 in March, flipping the said level into support, which was put to the test in the first half of June before Blackrock filed for a spot bitcoin exchange-traded fund.', 'Bitfarms Ltd. TORONTO, Ontario and BROSSARD, Québec, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Bitfarms Ltd. ( NASDAQ: BITF//TSX: BITF ), a global vertically integrated Bitcoin mining company, will host an Analyst & Investor Day on September 14, 2023, in New York City and by live simulcast. Schedule 8:00 – 9:00 am ET: Continental breakfast 9:00 am - Noon ET: Presentations and Q&A Noon ET – 1:00 ET: Lunch Invitation & RSVP required for in-person attendance, virtual attendance by webcast available. Bitfarms’ senior leadership team will provide an in-depth review of its business strategy and vision. President and Chief Executive Officer Geoff Morphy will emcee, more than 10 senior executives will deliver presentations, and the team will conduct an interactive Q&A session. Topics will include: Global operations strategic growth Preparation for the next Halving Expansion in LATAM Excellence in bitcoin mining Strategies for finance, hedging, and HODLing In Person Attendance Registration To request an invitation for in-person attendance, please contact LHA at [email protected] . Webcast Registration A webcast of the event, along with supporting materials, will be available on the company’s Investor Relations website at Bitfarms IR Calendar . A replay of the webcast and related presentation materials will also be made available following the conclusion of the event. About Bitfarms Ltd. Founded in 2017, Bitfarms is a global, publicly traded (NASDAQ/TSX: BITF) Bitcoin mining company. Bitfarms develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime. Bitfarms currently has 11 operating farms and 2 farms in development located in four countries: Canada, the United States, Paraguay, and Argentina. Powered by predominantly environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable, locally based, and often underutilized energy infrastructure. Story continues To learn more about Bitfarms’ events, developments, and online communities: Website:\xa0www.bitfarms.com https://www.facebook.com/bitfarms/ https://twitter.com/Bitfarms_io https://www.instagram.com/bitfarms/ https://www.linkedin.com/company/bitfarms/ Contact: LHA Investor Relations David Barnard +1 415-433-3777 [email protected]', 'TORONTO, Ontario and BROSSARD, Québec, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, will host an Analyst & Investor Day on September 14, 2023, in New York City and by live simulcast.\n[{"Schedule": "8:00 \\u2013 9:00 am ET:", "": "Continental breakfast"}, {"Schedule": "9:00 am - Noon ET:", "": "Presentations and Q&A"}, {"Schedule": "Noon ET \\u2013 1:00 ET:", "": "Lunch"}, ["Invitation & RSVP required for in-person attendance, virtual attendance by webcast available."]]\nBitfarms’ senior leadership team will provide an in-depth review of its business strategy and vision. President and Chief Executive Officer Geoff Morphy will emcee, more than 10 senior executives will deliver presentations, and the team will conduct an interactive Q&A session. Topics will include:\n• Global operations strategic growth\n• Preparation for the next Halving\n• Expansion in LATAM\n• Excellence in bitcoin mining\n• Strategies for finance, hedging, and HODLing\nIn Person Attendance RegistrationTo request an invitation for in-person attendance, please contact LHA [email protected].\nWebcastRegistrationA webcast of the event, along with supporting materials, will be available on the company’s Investor Relations website atBitfarms IR Calendar.\nA replay of the webcast and related presentation materials will also be made available following the conclusion of the event.\nAbout Bitfarms Ltd.\nFounded in 2017, Bitfarms is a global, publicly traded (NASDAQ/TSX: BITF) Bitcoin mining company. Bitfarms develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime.\nBitfarms currently has 11 operating farms and 2 farms in development located in four countries: Canada, the United States, Paraguay, and Argentina. Powered by predominantly environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable, locally based, and often underutilized energy infrastructure.\nTo learn more about Bitfarms’ events, developments, and online communities:\nWebsite:\xa0www.bitfarms.com\nhttps://www.facebook.com/bitfarms/https://twitter.com/Bitfarms_iohttps://www.instagram.com/bitfarms/https://www.linkedin.com/company/bitfarms/\nContact:\nLHA Investor RelationsDavid Barnard+1 [email protected]', '1. Singapore: stablecoin rules in play\n2. DeGods downgrades\n3. HKVAX: lucky third\nFrom the Editor’s Desk\nDear Reader,\nAt first glance, there’s something almost too perfect about a country like Singapore deciding to embrace stablecoins. Singapore, ahem, is nothing if not big on stability.\nBut it’s also big on innovation, too, albeit circumscribed by certain nanny-state imperatives.\nAnd Singapore is serious about positioning itself at the forefront of the future of finance. So long, that is, as the architecture of the finance system remains fundamentally unchanged — an approach exemplified by its central bank’s aptly named Project Guardian, which ropes in some of the world’s biggest TradFi names.\nBut seriously, Singapore is good at this kind of thing. In rolling out its revised regulatory framework for stablecoins, it joins a small but growing club of nations that have devised rules for the assets or are in the process of doing so.\nGiven the importance of stablecoins to the digital asset ecosystem and a growing acknowledgment among finance sector regulators around the world that stablecoins are here to stay, we can expect that club to grow.\nIt’s refreshing to see authorities recognize the limits of their power and, rather than attempt to wrestle the Hydra of the digital asset phenomenon in a death-match struggle they can never decisively win, engage and enable it to do its stuff.\nPaging United States policymakers and regulators. Pay attention, please.\nUntil the next time,\nAngie Lau,Founder and Editor-in-ChiefForkast.News\nThe Monetary Authority of Singapore (MAS) unveiled a regulatory framework for stablecoins on Tuesday as the Southeast Asian city-state positions itself as an aspiring global nexus for the crypto sector.\n• Theframeworkdelineates critical conditions for stablecoin issuers: ensuring value stability, maintaining a minimum base capital level, guaranteeing redemption at face value and assuring disclosure on matters like holder rights and audit findings of reserves.\n• “When well-regulated to preserve such value stability, stablecoins can serve as a trusted medium of exchange to support innovation, including the ‘on-chain’ purchase and sale of digital assets,” MAS said in its release.\n• MAS said that the new regulations would be applicable to Singapore-issued single-currency stablecoins pegged to the Singapore dollar or a selection of 10 major currencies, such as the U.S. dollar, the euro and the U.K. pound.\n• Implementation of the regulation will begin once approval for amendments is received from the Singapore parliament.\n• Singapore is not alone in its pursuit of stablecoin regulation. Earlier in June, Hong Kong initiated its own regulatory framework for crypto exchanges and is now in the process of devising alicensing structurefor stablecoin issuers, which could be revealed within the year.\n• Meanwhile, the U.S. Congress has been deliberating on astablecoin billintroduced in April 2023. The bill mandates the U.S. Federal Reserve to draft stipulations for the issuance of stablecoins, while concurrently upholding the jurisdiction of state regulators.\nForkast.Insights | What does it mean?\nSingapore’s regulatory framework for stablecoins comes a week afterPayPal, the global payments behemoth boasting over 435 million active users, launched its own stablecoin.\nThe increasing interest of major financial institutions in these fiat-pegged cryptocurrencies, coupled with accelerating regulatory discussions, underscores the significance of these assets in the forthcoming digital economy. Asian entities are certainly not lagging behind this trend.\nIn June,Mitsubishi UFJ Financial Group, the biggest bank in Japan, introduced its Progmat Coin platform to facilitate the creation and trading of stablecoins supported by Japanese banks. In July,Shinhan Bank, South Korea’s second-largest bank, and SCB TechX, the tech wing of Thailand’s oldest bank, Siam Commercial Bank, successfully concluded their second stablecoin transaction trial on the Hedera network.\nStablecoins play a crucial role in the broader cryptocurrency realm and the decentralized finance sector of Web3. These coins offer investors liquidity and a haven from market volatility.\nHowever, the importance placed on these assets is not without its hazards. A case in point is the devastating Terra-Luna crash in May 2022. This incident is reminiscent of the occasionalanxietyinvestors feel when the value of the world’s largest stablecoin USDT, issued byTether, deviates even slightly from its peg to the dollar.\nIn fact, Tether’s daily trading volum
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-17
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $555,737,073,612
- Hash Rate: 406283222.8070514
- Transaction Count: 502274.0
- Unique Addresses: 769086.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: You may be surprised to learn that the SEC’s ongoing efforts to rein in the crypto industry have been greeted warmly by at least some Bitcoiners. Because Bitcoin is firmly classed as a commodity rather than a security, those of a “Bitcoin maximalist” mindset have sometimes seen the crackdown as both a tactical and moral win. The laser-eyed set isn’t shy about sharing Gary Gensler’s skepticism of more centralized tokens like Solana, Cardano and even good old Ethereum. This story is part of CoinDesk's 2023 Mining Week , sponsored by Foundry. In broad strokes, Bitcoin and similarly structured proof-of-work tokens are commodities rather than securities because there is no central entity that collects capital in exchange for a promise of future returns. A proof-of-work chain like Bitcoin is purely a protocol, rather than a platform, product, or ecosystem – it’s a common enterprise, but you participate by following the rules, not by handing someone a sack of money behind the dumpster on Colesville Road . So if you want to be in crypto but not at risk of catching an SEC stray, you probably want to hold Bitcoin. This has manifested as a fairly steady rise in “Bitcoin dominance,” or Bitcoin’s share of total crypto market value, over the course of the SEC’s 2023 legal adventures. But that doesn’t mean bitcoin miners are completely free from SEC risk: in fact, it’s very easy to wrap commodity bitcoin in arrangements that are quite clearly securities contracts. In the wake of the recent split ruling in the SEC’s case against Ripple, this nuance may provide some timely insight into the relationship between a token in itself, and the agreements, transactions, and contracts surrounding it. The shadows of 'cloud mining' Recent crypto entrants may be surprised to learn that some of the earliest SEC actions on crypto, dating back at least as far as 2015, targeted Bitcoin miners – specifically, so-called “cloud miners.” The nominal goal of cloud miners was to offer colocation and management services to make mining easy, paralleling more general cloud providers like Amazon Web Services’ remote hosting. Read more: Anthony Power - How Miners Are Preparing for the Next Bitcoin Halving Unfortunately, many early cloud miners pursued flawed business models. Though they varied, a typical cloud mining contract would offer customers a particular amount of computing power (specifically, hashrate) for a set periodic cost. This appeared to amount to a security, since it implied a performance standard for the management of a pooled resource. But the model also invited fraud, which wound up being the more acute problem. Story continues “The reputational shadow [of cloud mining] has been a stain on our entire industry,” says Kent Halliburton, President and COO of Sazmining, a hosted miner (for an explanation of the difference between hosted and cloud mining, see below). “Because so many people have gotten hurt and hosed. We said, if you’re selling hashrate, how are you not selling a security? We wanted to stay totally clear from it.” The flaw of the cloud mining model, both from regulatory and trust standpoints, is that selling hashrate amounts to a guarantee of a specific output over time, reliant on the seller’s management expertise. There are also ample chances for deception and mismanagement: many cloud miners, maliciously or through incompetence, sold more hashrate than their machines could actually generate, and wound up effectively running ponzi schemes as they used new buyer funds to keep up. Probably the most notorious cloud mining fraud was Josh Garza’s GAW mining , which was charged by the SEC in 2015. But cloud miners are still out there: an entity called Mining Capital Cloud Corp was hit with fraud charges in 2022. Hosted mining – a safer path? This legacy doesn’t imply all remote mining services are inherently securities. “I think the structuring matters a lot there,” says Matt Walsh, partner at the Bitcoin-centric VC firm Castle Island. “What are you getting exposure to? A passthrough, or a direct physical machine?” Castle Island is an investor in River Financial, one of the firms offering what’s known as “hosted mining” or “mining as a service” as an improvement on the flawed cloud mining model. Instead of selling hashrate, these firms sell specific, individual machines and charge monthly service fees for remote management. Sazmining and Compass also offer hosted mining services. Among other features, hosted mining firms let customers monitor their individual machines in real time, seemingly leaving less room for either overcommitment or deception. Halliburton also says Sazmining sends block rewards directly to owners’ wallets, seemingly eliminating custody risk. Though they provide output estimates, returns vary according to network conditions. Everything is a security (if you work hard enough) These contrasts transfer to some other aspects of crypto and securities law. The distinction between cloud mining and hosted mining, for instance, is roughly parallel to the distinction between different models for offering third-party staking services for proof-of-stake systems. In February, Kraken paid a small SEC fine and agreed to shutter its staking service , but Coinbase has instead pledged to fight classification of its staking service as a securities offering. Read more: Jeff Wilser - Crypto Miners Are Pivoting to AI (Like Everyone Else) The difference, at least according to some analysts, is that Kraken engaged in more intermediary management in pursuit of better returns for customers, making its staking service effectively a risk-bearing yield product. Coinbase instead acted as a more direct conduit to on-chain staking systems, rather than engaging in any active management or strategy on behalf of customers. The most extreme illustrative example of how to turn boring Bitcoin mining into the regulatory equivalent of radioactive waste may be Celsius , the fraudulent crypto “bank.” While positioning itself as safe, Celsius was actually engaged in highly risky speculation on a chaotic mishmash of assets and ideas. One of those, it turns out, was a small mining operation in Texas that was sold off after Celsius’ bankruptcy. While it was just one small part of Celsius’ business model (wildly reckless and utterly disorganized speculation), the mining operation was implicated in SEC claims that Celsius violated securities law . Leaving aside Celsius’ fraudulent nature, a depositor in a crypto fund that received returns driven by a mining operation they don’t manage is clearly handing over money in expectation of a return created by the efforts of a third party. To paraphrase the seemingly immortal Howey Test , that’s how you turn an orange into a contract to produce an orange – and something innocuous into a fraught securities contract. View comments...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['After bottoming out at a two-month low of around US$25,400, Bitcoin recovered some losses on Friday morning in Asia to trade around US$26,800. Ether also fell dramatically to a low of around US$1,550 before rebounding to just under the US$1,700 line. All other top 10 non-stablecoin cryptos logged losses as macroeconomic factors — including the depreciation of the Chinese yuan and the bankruptcy of Chinese property giant Evergrande — hit investor sentiment. Overall, investors liquidated US$1 billion in cryptocurrencies, driving the total market capitalization to the edge of the psychologically important US$1 trillion threshold.\nXRP led the losers, after a U.S. judge granted the U.S. Securities and Exchange Commission (SEC) approval to file a motion to appeal the recent favorable ruling for Ripple Labs regarding retail sales of token XRP. Meanwhile, the Forkast 500 NFT index dropped but a rise in transactions continued. U.S. stock futures steadied after Wall Street closed lower on Thursday. The release of minutes from the Federal Reserve’s July meeting continues to fuel concerns of more monetary tightening ahead\nBitcoin slid 7.02% in the last 24 hours to US$26,819.27 as of 07:20 a.m. in Hong Kong, logging a weekly loss of 8.88%, according toCoinMarketCapdata. The world’s leading cryptocurrency hit a two-month low of US$25,409.11 on early Friday morning.\n“During late US / early Asia trading volumes, Bitcoin prices broke the critical support level at US$28,000. We knew a crash (or sharp decline) could be coming,” Markus Thielen, head of crypto research at digital asset service platform Matrixport, wrote in an emailed note.\n“Realized volatility had hit 18%; the last time volatility was this low, in November 2018, Bitcoin’s 30-day realized volatility spiked to over 100% as prices crashed by 46%. In Bitcoin, sharp price declines have often followed low volatility periods. We are not predicting such a significant decline but expected, at least, a -13% decline (so far, prices are down -10%).”\nThere is also the looming shadow of macro risks to consider, added Thielen.\n“The biggest is a potential devaluation of the Chinese Yuan,tradingat the weakest level since 2007. In August 2015, when China devalued the Yuan for the last time, Bitcoin prices declined by -23% during the two weeks following the devaluation,” he said.\nAdding to the bearish sentiment in Bitcoin, a Fridayreportby The Wall Street Journal showed Elon Musk-founded rocket company SpaceX wrote down the value of its Bitcoin holdings by a total of US$373 million in the past two years.\n“This is really a past event (but) it is still news and investors understandably saw this as a bearish catalysis on top of macro moves,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market maker Keyrock.\nAlong with Bitcoin, Ether dropped 5.64% to US$1,706.22 and lost 7.80% for the past seven days, after reaching a five-month low of US$1,551.71 on early Friday morning.\nOther top 10 non-stablecoin cryptocurrencies all traded lower.\nCryptocurrencies saw a total liquidation of US$1 billion over the past 12 hours, with US$812.67 million of long positions — positions where investors bet the cryptocurrency price will rise — wiped out, according to data from crypto information platformCoinGlass.\nRipple’s XRP token led the losers, plunging 12.52% to US$0.5136 for a weekly loss of 18.85%.\nIn the on-going legal battle between Ripple Labs and the SEC, Judge Analisa Torres on Thursdaygrantedthe SEC’s request to appeal an earlier summary judgement in favor of Ripple.\nIn June, Torresruledthat Ripple’s programmatic sales of XRP did not violate securities laws, while its sales to institutional investors did. The ruling was seen as apartial victorynotched by Ripple. The SEC first sued the company in December 2020 for offering unregistered digital asset securities — an allegation Ripple denies.\n“The request for appeal (even if granted) doesn’t change the fact that XRP is not a security. That’s not up for debate / trial,” said Ripple Chief Executive Officer Brad Garlinghouse in a tweet on Wednesday.\nAccording to Thursday’s court filing, the SEC will file a motion for appeal on Friday, and Ripple has until September 1 to file its opposition papers.\nThe total crypto market capitalization dropped 5.69% in the past 24 hours to US$1.07 trillion — close to the psychologically important US$1 trillion threshold — while trading volume surged 78.91% to US$60.58 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdropped 0.37% in the past 24 hours to 2,445.03 as of 10:00 a.m. in Hong Kong, and fell 2.28% for the week. Forkast’s Ethereum and Solana NFT indexes logged gains, while the indexes for Polygon and Cardano dropped.\nWreck League, an NFT video game backed by Hong Kong-based gaming company Animoca Brands,launchedits NFT mint on early Friday in Asia. But the collection has unperformed, struggling to sell more than a third of its offerings so far.\n“It’s not a good day for NFTs,” said Yehudah Petscher, NFT strategist at Forkast Labs. “If anyone is wondering if traders are out of liquidity or conviction in the space, this just might be the answer.”\nThe collection’s struggles will impact on the wider market, Petscher added, as traders will look at Wreck League and lose confidence in other collections’ ability to sell.\nDespite Wreck League’s struggles, total NFT trading volume rose 30.97% in the past 24 hours to over US$18.69 million, according to data fromCryptoSlam. Volumes on the Ethereum and BNB Chain rose, while Solana, Polygon, and Cardano blockchains posted declines.\nDaily NFT transactions on Thursday surpassed Wednesday’s record to hit another all-time-high of over 649,000. Those totals eclipsed the previous high of 595,000 logged on Feb. 25, 2022.\nMeanwhile, the average NFT sales price stood at US$26.26, about one tenth of the average price for NFTs on Feb. 25, 2022. That crop signals “a major change in the NFT ecosystem,” according to Petscher.\n“The NFT space is in the midst of having a shift in its identity, moving to high volume, low dollar sales, and this is exactly what will eventually lead NFTs to mass adoption,” said Petscher.\n“Will this be enough to start attracting mainstream attention though? I think not quite yet, but we’re getting much closer to that with realistic prices and recognizable brands,” he added.\nDespite the rise in transactions, NFT sellers lost over US$1.91 million in Thursday trading, the biggest loss since July 20.\nAs NFTs attract more institutional interest, McDonald’s Corporation’s Singapore branch has teamed up with local entertainment company Bandwagon Labs for an NFT project based on the fast food chain’s Grimace character.\nThe mint of 2,000 Grimace-themed NFTs will go live on August 21. The NFTs are free to claim using the McDonald’s mobile app in Singapore, but cannot then be transferred to other wallets.\nAmong NFT collections, Ethereum-based Bored Ape Yacht Club saw the largest 24-hour sales volume. The collection surged 367.71% to over US$2.22 million as itsfloor pricedropped 11% in the past seven days.\nEthereum-based DeGods and Mythos Chain-based DMarket took the second and third places in terms of daily sales volumes.\nU.S. stock futures traded mixed as of 2:00 p.m. in Hong Kong with the Dow up and the S&P 500 and Nasdaq logging gains. All three major U.S. indexes closed lower at close of trading on Thursday.\nIn Asia, the main stock indexes moved down on Friday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged losses.\nIn the U.S., jobless claims fell4.4%to 239,000 for the week ending August 12. The weekly figure is lower than economist expectations, pointing to a consistently tight labor market. That could open the door to further interest rate hikes.\n“The labor markets are not imploding,” Christopher Rupkey, chief economist at financial market research firm FWDBONDS, told Reuters. “The economy may be heating up instead of cooling down as the monetary medicine of higher 5.5% interest rates is not slowing aggregate demand like the economics textbooks say it should.”\nThe hot labor market data arrived after the U.S. Federal Reservereleasedits July meeting minutes on Wednesday.\nThe minutes show that “most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.” Two participants indicated they “favored leaving the target range for the federal funds rate unchanged or that they could have supported such a proposal.”\nThe Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 88.5% chance there will be no interest rate hike in September, and a 11.5% chance for another 25-basis-point increase.\nMeanwhile, China Evergrande Group filed for Chapter 15 bankruptcy in a U.S. bankruptcy court on Thursday. The Chinese real estate developer firstdefaultedon U.S. dollar bond repayments in December 2021 amid China’s property debt crisis.\nBeyond the ailing property industry, Chinese authorities reportedlytoldstate-owned banks to ramp up currency market intervention this week. That followed aslidein the value of offshore Chinese yuan to below 7.30 per U.S. dollar on Wednesday — the lowest level since November 2022.\n“We have a lot of uncertainty about the Chinese economy,” Hebe Chen, analyst at London-based online trading provider IG Markets,toldBloomberg. “The market is now standing at a crossroads about whether or not we can continue to talk about the Chinese recovery story or should we shift the narrative to China slowing down or even entering a recession.”\n(Updates with equities section.)', "After bottoming out at a two-month low of around US$25,400, Bitcoin recovered some losses on Friday morning in Asia to trade around US$26,800. Ether also fell dramatically to a low of around US$1,550 before rebounding to just under the US$1,700 line. All other top 10 non-stablecoin cryptos logged losses as macroeconomic factors — including the depreciation of the Chinese yuan and the bankruptcy of Chinese property giant Evergrande — hit investor sentiment. Overall, investors liquidated US$1 billion in cryptocurrencies, driving the total market capitalization to the edge of the psychologically important US$1 trillion threshold. XRP led the losers, after a U.S. judge granted the U.S. Securities and Exchange Commission (SEC) approval to file a motion to appeal the recent favorable ruling for Ripple Labs regarding retail sales of token XRP. Meanwhile, the Forkast 500 NFT index dropped but a rise in transactions continued. U.S. stock futures steadied after Wall Street closed lower on Thursday. The release of minutes from the Federal Reserve’s July meeting continues to fuel concerns of more monetary tightening ahead Bitcoin, Ether slide after giving up key support levels Bitcoin slid 7.02% in the last 24 hours to US$26,819.27 as of 07:20 a.m. in Hong Kong, logging a weekly loss of 8.88%, according to CoinMarketCap data. The world’s leading cryptocurrency hit a two-month low of US$25,409.11 on early Friday morning. “During late US / early Asia trading volumes, Bitcoin prices broke the critical support level at US$28,000. We knew a crash (or sharp decline) could be coming,” Markus Thielen, head of crypto research at digital asset service platform Matrixport, wrote in an emailed note. “Realized volatility had hit 18%; the last time volatility was this low, in November 2018, Bitcoin’s 30-day realized volatility spiked to over 100% as prices crashed by 46%. In Bitcoin, sharp price declines have often followed low volatility periods. We are not predicting such a significant decline but expected, at least, a -13% decline (so far, prices are down -10%).” There is also the looming shadow of macro risks to consider, added Thielen. “The biggest is a potential devaluation of the Chinese Yuan, trading at the weakest level since 2007. In August 2015, when China devalued the Yuan for the last time, Bitcoin prices declined by -23% during the two weeks following the devaluation,” he said. Adding to the bearish sentiment in Bitcoin, a Friday report by The Wall Street Journal showed Elon Musk-founded rocket company SpaceX wrote down the value of its Bitcoin holdings by a total of US$373 million in the past two years. Story continues “This is really a past event (but) it is still news and investors understandably saw this as a bearish catalysis on top of macro moves,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market maker Keyrock. Along with Bitcoin, Ether dropped 5.64% to US$1,706.22 and lost 7.80% for the past seven days, after reaching a five-month low of US$1,551.71 on early Friday morning. Other top 10 non-stablecoin cryptocurrencies all traded lower. Cryptocurrencies saw a total liquidation of US$1 billion over the past 12 hours, with US$812.67 million of long positions — positions where investors bet the cryptocurrency price will rise — wiped out, according to data from crypto information platform CoinGlass . Ripple’s XRP token led the losers, plunging 12.52% to US$0.5136 for a weekly loss of 18.85%. In the on-going legal battle between Ripple Labs and the SEC, Judge Analisa Torres on Thursday granted the SEC’s request to appeal an earlier summary judgement in favor of Ripple. In June, Torres ruled that Ripple’s programmatic sales of XRP did not violate securities laws, while its sales to institutional investors did. The ruling was seen as a partial victory notched by Ripple. The SEC first sued the company in December 2020 for offering unregistered digital asset securities — an allegation Ripple denies. “The request for appeal (even if granted) doesn’t change the fact that XRP is not a security. That’s not up for debate / trial,” said Ripple Chief Executive Officer Brad Garlinghouse in a tweet on Wednesday. Reminder – the request for appeal (even if granted) doesn’t change the fact that XRP is not a security. That’s not up for debate / trial. But the SEC continues to claim that Chris and I acted recklessly in believing that XRP is not a security. That’s utter nonsense. 1/2 https://t.co/pG7z0jsjlt — Brad Garlinghouse (@bgarlinghouse) August 16, 2023 According to Thursday’s court filing, the SEC will file a motion for appeal on Friday, and Ripple has until September 1 to file its opposition papers. The total crypto market capitalization dropped 5.69% in the past 24 hours to US$1.07 trillion — close to the psychologically important US$1 trillion threshold — while trading volume surged 78.91% to US$60.58 billion. A bad day for NFTs despite all time transactions high The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index dropped 0.37% in the past 24 hours to 2,445.03 as of 10:00 a.m. in Hong Kong, and fell 2.28% for the week. Forkast’s Ethereum and Solana NFT indexes logged gains, while the indexes for Polygon and Cardano dropped. Wreck League, an NFT video game backed by Hong Kong-based gaming company Animoca Brands, launched its NFT mint on early Friday in Asia. But the collection has unperformed, struggling to sell more than a third of its offerings so far. “It’s not a good day for NFTs,” said Yehudah Petscher, NFT strategist at Forkast Labs. “If anyone is wondering if traders are out of liquidity or conviction in the space, this just might be the answer.” The collection’s struggles will impact on the wider market, Petscher added, as traders will look at Wreck League and lose confidence in other collections’ ability to sell. Despite Wreck League’s struggles, total NFT trading volume rose 30.97% in the past 24 hours to over US$18.69 million, according to data from CryptoSlam . Volumes on the Ethereum and BNB Chain rose, while Solana, Polygon, and Cardano blockchains posted declines. Daily NFT transactions on Thursday surpassed Wednesday’s record to hit another all-time-high of over 649,000. Those totals eclipsed the previous high of 595,000 logged on Feb. 25, 2022. Meanwhile, the average NFT sales price stood at US$26.26, about one tenth of the average price for NFTs on Feb. 25, 2022. That crop signals “a major change in the NFT ecosystem,” according to Petscher. “The NFT space is in the midst of having a shift in its identity, moving to high volume, low dollar sales, and this is exactly what will eventually lead NFTs to mass adoption,” said Petscher. “Will this be enough to start attracting mainstream attention though? I think not quite yet, but we’re getting much closer to that with realistic prices and recognizable brands,” he added. Despite the rise in transactions, NFT sellers lost over US$1.91 million in Thursday trading, the biggest loss since July 20. As NFTs attract more institutional interest, McDonald’s Corporation’s Singapore branch has teamed up with local entertainment company Bandwagon Labs for an NFT project based on the fast food chain’s Grimace character. And it's live! #GRIMACE , a classic McDonaldland character brought into the modern world of digital collectibles. Minted within the @McDonalds app which millions call their happy place. Powered by Bandwagon Labs with artwork from @TheHiddenWalls . Stay tuned for the mint! ⚡️ pic.twitter.com/Z5U5T2sE8Z — Bandwagon Labs (@BandwagonLabs) August 17, 2023 The mint of 2,000 Grimace-themed NFTs will go live on August 21. The NFTs are free to claim using the McDonald’s mobile app in Singapore, but cannot then be transferred to other wallets. Among NFT collections, Ethereum-based Bored Ape Yacht Club saw the largest 24-hour sales volume. The collection surged 367.71% to over US$2.22 million as its floor price dropped 11% in the past seven days. Ethereum-based DeGods and Mythos Chain-based DMarket took the second and third places in terms of daily sales volumes. US rate hike murmurs as China strife deepens Image: Envato Elements U.S. stock futures traded mixed as of 2:00 p.m. in Hong Kong with the Dow up and the S&P 500 and Nasdaq logging gains. All three major U.S. indexes closed lower at close of trading on Thursday. In Asia, the main stock indexes moved down on Friday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged losses. In the U.S., jobless claims fell 4.4% to 239,000 for the week ending August 12. The weekly figure is lower than economist expectations, pointing to a consistently tight labor market. That could open the door to further interest rate hikes. “The labor markets are not imploding,” Christopher Rupkey, chief economist at financial market research firm FWDBONDS, told Reuters. “The economy may be heating up instead of cooling down as the monetary medicine of higher 5.5% interest rates is not slowing aggregate demand like the economics textbooks say it should.” The hot labor market data arrived after the U.S. Federal Reserve released its July meeting minutes on Wednesday. The minutes show that “most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.” Two participants indicated they “favored leaving the target range for the federal funds rate unchanged or that they could have supported such a proposal.” The Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at the CME FedWatch Tool predict a 88.5% chance there will be no interest rate hike in September, and a 11.5% chance for another 25-basis-point increase. Meanwhile, China Evergrande Group filed for Chapter 15 bankruptcy in a U.S. bankruptcy court on Thursday. The Chinese real estate developer first defaulted on U.S. dollar bond repayments in December 2021 amid China’s property debt crisis. Beyond the ailing property industry, Chinese authorities reportedly told state-owned banks to ramp up currency market intervention this week. That followed a slide in the value of offshore Chinese yuan to below 7.30 per U.S. dollar on Wednesday — the lowest level since November 2022. “We have a lot of uncertainty about the Chinese economy,” Hebe Chen, analyst at London-based online trading provider IG Markets, told Bloomberg. “The market is now standing at a crossroads about whether or not we can continue to talk about the Chinese recovery story or should we shift the narrative to China slowing down or even entering a recession.” (Updates with equities section.) View comments", 'After bottoming out at a two-month low of around US$25,400, Bitcoin recovered some losses on Friday morning in Asia to trade around US$26,800. Ether also fell dramatically to a low of around US$1,550 before rebounding to just under the US$1,700 line. All other top 10 non-stablecoin cryptos logged losses as macroeconomic factors — including the depreciation of the Chinese yuan and the bankruptcy of Chinese property giant Evergrande — hit investor sentiment. Overall, investors liquidated US$1 billion in cryptocurrencies, driving the total market capitalization to the edge of the psychologically important US$1 trillion threshold.\nXRP led the losers, after a U.S. judge granted the U.S. Securities and Exchange Commission (SEC) approval to file a motion to appeal the recent favorable ruling for Ripple Labs regarding retail sales of token XRP. Meanwhile, the Forkast 500 NFT index dropped but a rise in transactions continued. U.S. stock futures steadied after Wall Street closed lower on Thursday. The release of minutes from the Federal Reserve’s July meeting continues to fuel concerns of more monetary tightening ahead\nBitcoin slid 7.02% in the last 24 hours to US$26,819.27 as of 07:20 a.m. in Hong Kong, logging a weekly loss of 8.88%, according toCoinMarketCapdata. The world’s leading cryptocurrency hit a two-month low of US$25,409.11 on early Friday morning.\n“During late US / early Asia trading volumes, Bitcoin prices broke the critical support level at US$28,000. We knew a crash (or sharp decline) could be coming,” Markus Thielen, head of crypto research at digital asset service platform Matrixport, wrote in an emailed note.\n“Realized volatility had hit 18%; the last time volatility was this low, in November 2018, Bitcoin’s 30-day realized volatility spiked to over 100% as prices crashed by 46%. In Bitcoin, sharp price declines have often followed low volatility periods. We are not predicting such a significant decline but expected, at least, a -13% decline (so far, prices are down -10%).”\nThere is also the looming shadow of macro risks to consider, added Thielen.\n“The biggest is a potential devaluation of the Chinese Yuan,tradingat the weakest level since 2007. In August 2015, when China devalued the Yuan for the last time, Bitcoin prices declined by -23% during the two weeks following the devaluation,” he said.\nAdding to the bearish sentiment in Bitcoin, a Fridayreportby The Wall Street Journal showed Elon Musk-founded rocket company SpaceX wrote down the value of its Bitcoin holdings by a total of US$373 million in the past two years.\n“This is really a past event (but) it is still news and investors understandably saw this as a bearish catalysis on top of macro moves,” said Justin d’Anethan, head of APAC business development at Belgium-based crypto market maker Keyrock.\nAlong with Bitcoin, Ether dropped 5.64% to US$1,706.22 and lost 7.80% for the past seven days, after reaching a five-month low of US$1,551.71 on early Friday morning.\nOther top 10 non-stablecoin cryptocurrencies all traded lower.\nCryptocurrencies saw a total liquidation of US$1 billion over the past 12 hours, with US$812.67 million of long positions — positions where investors bet the cryptocurrency price will rise — wiped out, according to data from crypto information platformCoinGlass.\nRipple’s XRP token led the losers, plunging 12.52% to US$0.5136 for a weekly loss of 18.85%.\nIn the on-going legal battle between Ripple Labs and the SEC, Judge Analisa Torres on Thursdaygrantedthe SEC’s request to appeal an earlier summary judgement in favor of Ripple.\nIn June, Torresruledthat Ripple’s programmatic sales of XRP did not violate securities laws, while its sales to institutional investors did. The ruling was seen as apartial victorynotched by Ripple. The SEC first sued the company in December 2020 for offering unregistered digital asset securities — an allegation Ripple denies.\n“The request for appeal (even if granted) doesn’t change the fact that XRP is not a security. That’s not up for debate / trial,” said Ripple Chief Executive Officer Brad Garlinghouse in a tweet on Wednesday.\nAccording to Thursday’s court filing, the SEC will file a motion for appeal on Friday, and Ripple has until September 1 to file its opposition papers.\nThe total crypto market capitalization dropped 5.69% in the past 24 hours to US$1.07 trillion — close to the psychologically important US$1 trillion threshold — while trading volume surged 78.91% to US$60.58 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdropped 0.37% in the past 24 hours to 2,445.03 as of 10:00 a.m. in Hong Kong, and fell 2.28% for the week. Forkast’s Ethereum and Solana NFT indexes logged gains, while the indexes for Polygon and Cardano dropped.\nWreck League, an NFT video game backed by Hong Kong-based gaming company Animoca Brands,launchedits NFT mint on early Friday in Asia. But the collection has unperformed, struggling to sell more than a third of its offerings so far.\n“It’s not a good day for NFTs,” said Yehudah Petscher, NFT strategist at Forkast Labs. “If anyone is wondering if traders are out of liquidity or conviction in the space, this just might be the answer.”\nThe collection’s struggles will impact on the wider market, Petscher added, as traders will look at Wreck League and lose confidence in other collections’ ability to sell.\nDespite Wreck League’s struggles, total NFT trading volume rose 30.97% in the past 24 hours to over US$18.69 million, according to data fromCryptoSlam. Volumes on the Ethereum and BNB Chain rose, while Solana, Polygon, and Cardano blockchains posted declines.\nDaily NFT transactions on Thursday surpassed Wednesday’s record to hit another all-time-high of over 649,000. Those totals eclipsed the previous high of 595,000 logged on Feb. 25, 2022.\nMeanwhile, the average NFT sales price stood at US$26.26, about one tenth of the average price for NFTs on Feb. 25, 2022. That crop signals “a major change in the NFT ecosystem,” according to Petscher.\n“The NFT space is in the midst of having a shift in its identity, moving to high volume, low dollar sales, and this is exactly what will eventually lead NFTs to mass adoption,” said Petscher.\n“Will this be enough to start attracting mainstream attention though? I think not quite yet, but we’re getting much closer to that with realistic prices and recognizable brands,” he added.\nDespite the rise in transactions, NFT sellers lost over US$1.91 million in Thursday trading, the biggest loss since July 20.\nAs NFTs attract more institutional interest, McDonald’s Corporation’s Singapore branch has teamed up with local entertainment company Bandwagon Labs for an NFT project based on the fast food chain’s Grimace character.\nThe mint of 2,000 Grimace-themed NFTs will go live on August 21. The NFTs are free to claim using the McDonald’s mobile app in Singapore, but cannot then be transferred to other wallets.\nAmong NFT collections, Ethereum-based Bored Ape Yacht Club saw the largest 24-hour sales volume. The collection surged 367.71% to over US$2.22 million as itsfloor pricedropped 11% in the past seven days.\nEthereum-based DeGods and Mythos Chain-based DMarket took the second and third places in terms of daily sales volumes.\nU.S. stock futures traded mixed as of 2:00 p.m. in Hong Kong with the Dow up and the S&P 500 and Nasdaq logging gains. All three major U.S. indexes closed lower at close of trading on Thursday.\nIn Asia, the main stock indexes moved down on Friday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged losses.\nIn the U.S., jobless claims fell4.4%to 239,000 for the week ending August 12. The weekly figure is lower than economist expectations, pointing to a consistently tight labor market. That could open the door to further interest rate hikes.\n“The labor markets are not imploding,” Christopher Rupkey, chief economist at financial market research firm FWDBONDS, told Reuters. “The economy may be heating up instead of cooling down as the monetary medicine of higher 5.5% interest rates is not slowing aggregate demand like the economics textbooks say it should.”\nThe hot labor market data arrived after the U.S. Federal Reservereleasedits July meeting minutes on Wednesday.\nThe minutes show that “most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.” Two participants indicated they “favored leaving the target range for the federal funds rate unchanged or that they could have supported such a proposal.”\nThe Fed meets on Sep. 19 to make its next move on interest rates, which are now between 5.25% to 5.50%, the highest level in the past 22 years. Analysts at theCME FedWatch Toolpredict a 88.5% chance there will be no interest rate hike in September, and a 11.5% chance for another 25-basis-point increase.\nMeanwhile, China Evergrande Group filed for Chapter 15 bankruptcy in a U.S. bankruptcy court on Thursday. The Chinese real estate developer firstdefaultedon U.S. dollar bond repayments in December 2021 amid China’s property debt crisis.\nBeyond the ailing property industry, Chinese authorities reportedlytoldstate-owned banks to ramp up currency market intervention this week. That followed aslidein the value of offshore Chinese yuan to below 7.30 per U.S. dollar on Wednesday — the lowest level since November 2022.\n“We have a lot of uncertainty about the Chinese economy,” Hebe Chen, analyst at London-based online trading provider IG Markets,toldBloomberg. “The market is now standing at a crossroads about whether or not we can continue to talk about the Chinese recovery story or should we shift the narrative to China slowing down or even entering a recession.”\n(Updates with equities section.)', "Bitcoin And The Broader Cryptocurrency Market Fell Sharply\nFollowing the U.S. Federal Reserve's indication of retaining a hawkish stance as indicated in the meeting minutespublishedon August 16, Bitcoin and the wider crypto market sold off sharply, with crypto traders suffering $1 billion inliquidations.\nBitcoin (BTC)dropped by 6.8%, currently trading around $26,600 after hitting a two-month low of $25,500 earlier on. The rush to sell resulted in the elimination of around $822 million worth of long positions and $194 million in shorts. Bitcoin and Ethereum traders faced the most substantial liquidations over the past 24 hours, at $488 million and $303 million, respectively. This marks the highest level of Bitcoin liquidations in a single day since June 2022, when its price plummeted to $17,000.\nEthereum (ETH)faced similar challenges. After a 6% dip over the past 24 hours, it is currently trading at $1,680, having reached $1,551 earlier on.\nThe S&P 500 index also dropped, falling 0.76% and continuing its previous-day decrease. The Fed's rate estimates helped the dollar index (DXY), which gained 0.55% this past week and a one-month high, showing strength against other major currencies.\nThe benchmark interest rate was increased to 5.25%-5.50% during the previous month's Fed policy rate meeting, setting a 22-year high.\nInflation rose by 3.2% year over year in July, according to the Consumer Price Index (CPI), but crypto prices remained largely unchanged despite the smaller increase. The CME's FEDWatch tool showed an increase in rate rise predictions from 10% to 13.5% as a result of this release, upping those forecasts. In the press release, it was also suggested that measures may be taken to gradually raise inflation to 2%.", "Bitcoin and Broader Crypto Market Fall Sharply After Fed Signals More Rate Hikes Bitcoin And The Broader Cryptocurrency Market Fell Sharply Following the U.S. Federal Reserve's indication of retaining a hawkish stance as indicated in the meeting minutes published on August 16, Bitcoin and the wider crypto market sold off sharply, with crypto traders suffering $1 billion in liquidations . Bitcoin (BTC) dropped by 6.8%, currently trading around $26,600 after hitting a two-month low of $25,500 earlier on. The rush to sell resulted in the elimination of around $822 million worth of long positions and $194 million in shorts. Bitcoin and Ethereum traders faced the most substantial liquidations over the past 24 hours, at $488 million and $303 million, respectively. This marks the highest level of Bitcoin liquidations in a single day since June 2022, when its price plummeted to $17,000. Ethereum (ETH) faced similar challenges. After a 6% dip over the past 24 hours, it is currently trading at $1,680, having reached $1,551 earlier on. The S&P 500 index also dropped, falling 0.76% and continuing its previous-day decrease. The Fed's rate estimates helped the dollar index (DXY), which gained 0.55% this past week and a one-month high, showing strength against other major currencies. The benchmark interest rate was increased to 5.25%-5.50% during the previous month's Fed policy rate meeting, setting a 22-year high. Inflation rose by 3.2% year over year in July, according to the Consumer Price Index (CPI), but crypto prices remained largely unchanged despite the smaller increase. The CME's FEDWatch tool showed an increase in rate rise predictions from 10% to 13.5% as a result of this release, upping those forecasts. In the press release, it was also suggested that measures may be taken to gradually raise inflation to 2%.", "Bitcoin And The Broader Cryptocurrency Market Fell Sharply\nFollowing the U.S. Federal Reserve's indication of retaining a hawkish stance as indicated in the meeting minutespublishedon August 16, Bitcoin and the wider crypto market sold off sharply, with crypto traders suffering $1 billion inliquidations.\nBitcoin (BTC)dropped by 6.8%, currently trading around $26,600 after hitting a two-month low of $25,500 earlier on. The rush to sell resulted in the elimination of around $822 million worth of long positions and $194 million in shorts. Bitcoin and Ethereum traders faced the most substantial liquidations over the past 24 hours, at $488 million and $303 million, respectively. This marks the highest level of Bitcoin liquidations in a single day since June 2022, when its price plummeted to $17,000.\nEthereum (ETH)faced similar challenges. After a 6% dip over the past 24 hours, it is currently trading at $1,680, having reached $1,551 earlier on.\nThe S&P 500 index also dropped, falling 0.76% and continuing its previous-day decrease. The Fed's rate estimates helped the dollar index (DXY), which gained 0.55% this past week and a one-month high, showing strength against other major currencies.\nThe benchmark interest rate was increased to 5.25%-5.50% during the previous month's Fed policy rate meeting, setting a 22-year high.\nInflation rose by 3.2% year over year in July, according to the Consumer Price Index (CPI), but crypto prices remained largely unchanged despite the smaller increase. The CME's FEDWatch tool showed an increase in rate rise predictions from 10% to 13.5% as a result of this release, upping those forecasts. In the press release, it was also suggested that measures may be taken to gradually raise inflation to 2%.", 'Coinbase, the largest cryptocurrency exchange in the U.S., has become the first regulated entity in the country to offer both spot trading and futures derivatives in the cryptocurrency space. The exchange has received regulatory approval from the National Futures Association (NFA) to offer crypto futures derivatives to eligible U.S. clients. Initially, futures contracts for Ether and Bitcoin will be available. "Major moment for crypto regulatory clarity in the U.S. This has been a multi-year process toward approval, and we\'re excited to finally be launching federally regulated crypto derivatives with margin to our U.S. customers. When there is a clear path to register, we do, " said Coinbase CEO and co-founder Brian Armstrong. The approval marks a major step towards regulatory clarity in the U.S., coming nearly two years after Coinbase applied to become a registered Futures Commission Merchant (FCM) in September 2021. Derivatives constitute nearly 75% of all crypto trading activity worldwide. Last year, Coinbase acquired FairX, a CFTC-regulated exchange, to offer derivatives products, including bite-sized futures contracts to retail traders and larger contracts to institutional investors. In May, Coinbase launched its international exchange, offering perpetual swaps, a derivative similar to a futures contract. Coinbase Looks Beyond The U.S. With International Exchange Interested users can join the waitlist for the futures offering. Read the original post on The Defiant', 'Coinbase, the largest cryptocurrency exchange in the U.S., has become the first regulated entity in the country to offer both spot trading and futures derivatives in the cryptocurrency space.\nThe exchange hasreceivedregulatory approval from the National Futures Association (NFA) to offer crypto futures derivatives to eligible U.S. clients. Initially, futures contracts for Ether and Bitcoin will be available.\n"Major moment for crypto regulatory clarity in the U.S. This has been a multi-year process toward approval, and we\'re excited to finally be launching federally regulated crypto derivatives with margin to our U.S. customers. When there is a clear path to register, we do, "saidCoinbase CEO and co-founder Brian Armstrong.\nThe approval marks a major step towards regulatory clarity in the U.S., coming nearly two years after Coinbase applied to become a registered Futures Commission Merchant (FCM) in September 2021. Derivatives constitute nearly 75% of all crypto trading activity worldwide.\nLast year, Coinbase acquired FairX, a CFTC-regulated exchange, to offer derivatives products, including bite-sized futures contracts to retail traders and larger contracts to institutional investors. In May, Coinbase launched its international exchange, offering perpetual swaps, a derivative similar to a futures contract.\nInterested users can join thewaitlistfor the futures offering.\nRead the original post on The Defiant', "Bitcoin and Ethereum Appear To Be Experiencing A Period Of Reduced Volatility\nBitcoinandEthereum, well-known for their erratic price fluctuations, appear to be experiencing a period of reduced volatility.\nSurprisingly, oil currently has more volatility than these digital currencies. The 90-day volatility indexes for Bitcoin and Ethereum have fallen to multi-year lows, falling by 35% and 37%, respectively, according to latestOpen in a new tabfrom Kaiko research. As a result, compared to oil, which has a 41% volatility rate, these top cryptocurrencies are now less volatile.\nThe frequency and magnitude of price movements over time are indicated by market volatility. In the past, cryptocurrencies have been more volatile than oil, as seen by their bigger and more frequent price fluctuations.\nDespite the fact that oil currently dominates the Nasdaq and gold in terms of volatility, it has actually fallen from a volatility rate of 63% in July 2022. Increased geopolitical tensions and China's underwhelming economic rebound following the relaxation of Covid-19 limitations may be to blame for this drop in oil's volatility.\nKaiko's research also highlights that both Bitcoin and Ethereum are currently experiencing multi-year lows in terms of liquidity and trade volume, which could contribute to their decreased volatility.\nThe anticipated launch of an exchange-traded fund (ETF) for Bitcoin may stir up market volatility once again. This gained credibility in the wake of BlackRock's unexpected ETF application, given the firm's track record of successful applications and the subsequent actions of other applicants.", "Bitcoin and Ethereum Appear To Be Experiencing A Period Of Reduced Volatility\nBitcoinandEthereum, well-known for their erratic price fluctuations, appear to be experiencing a period of reduced volatility.\nSurprisingly, oil currently has more volatility than these digital currencies. The 90-day volatility indexes for Bitcoin and Ethereum have fallen to multi-year lows, falling by 35% and 37%, respectively, according to latestOpen in a new tabfrom Kaiko research. As a result, compared to oil, which has a 41% volatility rate, these top cryptocurrencies are now less volatile.\nThe frequency and magnitude of price movements over time are indicated by market volatility. In the past, cryptocurrencies have been more volatile than oil, as seen by their bigger and more frequent price fluctuations.\nDespite the fact that oil currently dominates the Nasdaq and gold in terms of volatility, it has actually fallen from a volatility rate of 63% in July 2022. Increased geopolitical tensions and China's underwhelming economic rebound following the relaxation of Covid-19 limitations may be to blame for this drop in oil's volatility.\nKaiko's research also highlights that both Bitcoin and Ethereum are currently experiencing multi-year lows in terms of liquidity and trade volume, which could contribute to their decreased volatility.\nThe anticipated launch of an exchange-traded fund (ETF) for Bitcoin may stir up market volatility once again. This gained credibility in the wake of BlackRock's unexpected ETF application, given the firm's track record of successful applications and the subsequent actions of other applicants.", "Bitcoin and Ethereum Now Less Volatile Than Oil: Report Bitcoin and Ethereum Appear To Be Experiencing A Period Of Reduced Volatility Bitcoin and Ethereum , well-known for their erratic price fluctuations, appear to be experiencing a period of reduced volatility. Surprisingly, oil currently has more volatility than these digital currencies. The 90-day volatility indexes for Bitcoin and Ethereum have fallen to multi-year lows, falling by 35% and 37%, respectively, according to latest Open in a new tab from Kaiko research. As a result, compared to oil, which has a 41% volatility rate, these top cryptocurrencies are now less volatile. The frequency and magnitude of price movements over time are indicated by market volatility. In the past, cryptocurrencies have been more volatile than oil, as seen by their bigger and more frequent price fluctuations. Despite the fact that oil currently dominates the Nasdaq and gold in terms of volatility, it has actually fallen from a volatility rate of 63% in July 2022. Increased geopolitical tensions and China's underwhelming economic rebound following the relaxation of Covid-19 limitations may be to blame for this drop in oil's volatility. Kaiko's research also highlights that both Bitcoin and Ethereum are currently experiencing multi-year lows in terms of liquidity and trade volume, which could contribute to their decreased volatility. The anticipated launch of an exchange-traded fund (ETF) for Bitcoin may stir up market volatility once again. This gained credibility in the wake of BlackRock's unexpected ETF application, given the firm's track record of successful applications and the subsequent actions of other applicants. View comments", 'Angela Weiss/AFP via Getty Images US stocks tumbled Thursday as the 10-year Treasury yield kept climbing and hit the highest level since 2007. Measured on a daily basis, using a single reference price, the benchmark rate reached 4.3237%. Indexes gave up early gains to finish lower, with the Dow notching its third consecutive decline. US stocks tumbled Thursday as the 10-year Treasury yield kept climbing and hit the highest level in nearly 16 years. Measured on a daily basis, using a single reference price, the benchmark rate reached 4.3237%, a level not seen since November 2007. Other measures showed the 10-year yield at the highest since October 2022. On Wednesday, minutes from the Federal Reserve\'s meeting last month revealed that policymakers remained concerned about inflation and were open to further rate hikes. As the yield continued to march higher Thursday, indexes gave up early gains to finish lower, with the Dow notching its third consecutive decline. That\'s even as Dow components Walmart and Cisco reported strong quarterly earnings. Here\'s where US indexes stood at the 4 p.m. closing bell on Thursday: S&P 500 : 4,373.06, down 0.71% Dow Jones Industrial Average : 34,488.45, down 0.84% (-291.84 points) Nasdaq Composite : 13,316.93, down 1.17% Here\'s what else is going on today: "Shark Tank" investor Kevin O\'Leary said Michael Burry\'s bet against the S&P 500 is going to be painful , even if he\'s right eventually. Inflation is falling and the end of rate hikes is in sight - so why are bond yields still rising? Foreign investors are giving up on China as capital flows reverse. Load up on bonds for their juicy yields before the stock-market rally loses steam, said Morgan Stanley. In commodities, bonds, and crypto: Oil prices were lower. West Texas Intermediate crude oil climbed 0.9% to $80.11 a barrel. Brent , the international benchmark, rallied 0.5% to $83.85 a barrel. Gold edged down 0.5% to $1,918 per ounce. The yield on the 10-year Treasury rose 3.8 basis points to 4.296%. Bitcoin fell 4% to $27,914. Read the original article on Business Insider', '• US stocks tumbled Thursday as the 10-year Treasury yield kept climbing and hit the highest level since 2007.\n• Measured on a daily basis, using a single reference price, the benchmark rate reached 4.3237%.\n• Indexes gave up early gains to finish lower, with the Dow notching its third consecutive decline.\nUS stocks tumbled Thursday as the 10-year Treasury yield kept climbing and hit the highest level in nearly 16 years.\nMeasured on a daily basis, using a single reference price, the benchmark rate reached 4.3237%, a level not seen since November 2007. Other measures showed the 10-year yield at the highest since October 2022.\nOn Wednesday, minutes from the Federal Reserve\'s meeting last month revealed that policymakers remained concerned about inflation and were open to further rate hikes.\nAs the yield continued to march higher Thursday, indexes gave up early gains to finish lower, with the Dow notching its third consecutive decline. That\'s even as Dow components Walmart and Cisco reported strong quarterly earnings.\nHere\'s where US indexes stood at the 4 p.m. closing bell on Thursday:\n• S&P 500:4,373.06, down 0.71%\n• Dow Jones Industrial Average:34,488.45, down 0.84% (-291.84 points)\n• Nasdaq Composite:13,316.93, down 1.17%\nHere\'s what else is going on today:\n• "Shark Tank" investor Kevin O\'Leary saidMichael Burry\'s bet against the S&P 500 is going to be painful, even if he\'s right eventually.\n• Inflation is falling and the end of rate hikes is in sight -so why are bond yields still rising?\n• Foreign investors are giving up on Chinaas capital flows reverse.\n• Load up on bonds for their juicy yieldsbefore the stock-market rally loses steam, said Morgan Stanley.\nIn commodities, bonds, and crypto:\n• Oil prices were lower.West Texas Intermediatecrude oil climbed 0.9% to $80.11 a barrel.Brent, the international benchmark, rallied 0.5% to $83.85 a barrel.\n• Goldedged down 0.5% to $1,918 per ounce.\n• The yield on the 10-year Treasury rose 3.8 basis points to 4.296%.\n• Bitcoinfell 4% to $27,914.\nRead the original article onBusiness Insider', '"Just woke up. WHO SOLD?" This is what first crossed the mind of Reetika, a Dubai-based bitcoin (BTC) and crypto trader, during her usual routine of checking prices after waking up. An unexpected and major sell-off in the crypto markets had jolted everyone after what had been a boring few weeks. Reetika\'s surprise was likely worldwide among traders and crypto hopefuls given how sudden and deep the losses were . Just woke up. WHO SOLD pic.twitter.com/iusl2dAC20 \x97 Reetika (@ReetikaTrades) August 18, 2023 Bitcoin plunged on Thursday as traders sold the tokens en masse based on several unrelated catalysts, causing the crypto markets to lose 6.7% in overall capitalization in what marked one of the biggest drops in recent months. As of about 06:00 UTC Friday, bitcoin had fallen as much as 9% over the past 24 hours to $25,000 from $28,500 on Binance, leading to a market-wide slump that sent major tokens like litecoin (LTC) tumbling by 14%. This caused more than $1 billion in crypto futures to be liquidated, a 14-month high. Some pointed to space exploration company SpaceX\x92s supposed bitcoin sales \x96 an unsubstantiated claim \x96 while others said the bankruptcy of China Evergrande\'s may have had something to do with the fall. However, neither of these events are the probable cause. A Wall Street Journal report late Thursday, citing internal company documents, noted Elon Musk\'s SpaceX had written down the value of its bitcoin holdings in 2021 and 2022 and has sold the cryptocurrency. But that report came out before the plunge, and there\'s zero evidence the company sold again Thursday. Long squeeze and what really happened Pr
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-18
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $514,093,642,112
- Hash Rate: 362008769.0396163
- Transaction Count: 423207.0
- Unique Addresses: 783855.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.37
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Stocks of crypto companies fell Tuesday after a US judge said digital currencies can be considered securities when sold to the general public, contradicting an earlier ruling from a judge in a separate case. The decision bolstered the view of the Securities and Exchange Commission (SEC), which is the plaintiff in both cases. The US regulator has argued certain cryptocurrencies are securities and therefore should be overseen by the SEC, using that assertion as the basis for several lawsuits against major industry players. US crypto exchange Coinbase Global ( COIN ), which faces one such lawsuit from the SEC, dropped as much as 8.5% Tuesday. The price of bitcoin ( BTC-USD ) also fell below $29,000. The new decision that upended stocks came from US Judge Jed Rakoff in the Southern District of New York, who opposed an earlier ruling from Analisa Torres, another judge in the same US district court. Torres had concluded in mid-July that the XRP digital token issued by Ripple Labs was a security only when it was sold to institutional investors, and not when it was purchased by the general public. Rakoff disagreed with that specific view in his case, in which the SEC has alleged stablecoin issuer Terraform Labs sold unregistered securities. "The Court rejects the approach recently adopted by another judge of this District," he wrote. Jed Rakoff, a US judge in the Southern District of New York. (Yana Paskova for The Washington Post via Getty Images) (The Washington Post via Getty Images) The disagreement was a blow to some in the crypto world who had hailed the earlier ruling from Torres. "Well, it was a fun few weeks," said Gabriel Shapiro, general counsel for digital asset research and consulting firm Delphi Labs. The chief legal officer of Ripple Labs, Stuart Alderoty, said in a tweet that the new ruling from Rakoff "changes NOTHING about the Ripple ruling that XRP is not a security." well, it was a fun few weeks, gg https://t.co/WsCr7EdKeY — _gabrielShapir0 (@lex_node) August 1, 2023 The contradictory rulings makes the regulatory clarity surrounding most cryptocurrencies as murky as ever, according to Stephen Palley, a Washington, D.C.-based legal partner with Brown Rudnick who co-chairs the firm’s digital commerce group. Story continues “Expect to see more disagreement between courts, and less clarity, until Congress acts,” Palley said Monday over Twitter. Neither opinion from the US District Court in the Southern District of New York will set a binding precedent, he told Yahoo Finance Tuesday. "As we see here, even within the same judicial district ... one judge isn’t required to follow another judge’s holding." In another crypto case in the Southern District of NY, Judge Rakoff specifically declines to adopt Judge Torres’ reasoning in the Ripple case. Expect to see more disagreement between courts, and less clarity, until congress acts. Link to opinion: https://t.co/BMywIrxm6e pic.twitter.com/uFdytfRHcG — Palley (@stephendpalley) July 31, 2023 The SEC has brought 17 enforcement actions against crypto investors and businesses since the beginning of January. That includes cases against Coinbase and Binance, the world's biggest crypto exchange. Its most recent case came Monday when it alleged that Richard Heart, founder of crypto token project Hex, misappropriated millions of dollars from investors. Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["In a bear market, price action like RUNE’s stands out.\nThe token of the cross-chain liquidity protocolTHORChainhas surged over 40% this week despite abrutal selloffacross broader markets. RUNE hit a four-month high of $1.64 on Aug. 18.\nThe momentum isn’t limited to the token — THORChain also notched up a record volume day on Aug. 14, when it facilitated over $100M of trades.\nWealthy investors have begun to use the protocol for large swaps, FamiliarCow, the Communications Director for Nine Realms, the THORChain core developers' group, told The Defiant.\nThe project facilitated its largest everswapof 3150 ETH for 2,482,348 RUNE, worth roughly $3.65M, on Aug. 15. “We're seeing like these big trades that we haven't really seen before,” FamiliarCow said. He attributes the volume to a new product calledstreaming swapswhich launched on Aug. 1.\nStreaming swaps break up cross-chain trades into smaller parts that are executed over up to 24 hours. As the trade progresses, arbitrageurs step in to rebalance the pool so that less value is lost to slippage.\n“It's opening up a new market because obviously you can put a lot of size through so the whales are coming to town,” FamiliarCow said.\nTHORChain’s momentum is notable because of the project’s unique position in DeFi — it’s not quite a bridge, which moves homogenous assets across blockchains — it’s more like an exchange like Coinbase or Binance, which facilitates trades between tokens with the endpoints being each asset’s native blockchain.\nConsidering that the SEC has sued bothBinanceandCoinbaseas part of a broader crypto crackdown, a decentralized application like THORChain may prove particularly valuable to the crypto ecosystem. This is because it fills a similar role to the exchange but, at least in theory, has a smaller regulatory attack surface by being decentralized.\nFamiliarCow didn’t shy away from comparisons to billion-dollar behemoths. “What’s being built here is honestly the replacement of the centralized exchange,” he said.\nTo be sure, THORChain has faced its share of bumps in the road.\nThe project suffered back-to-back hacks resulting in roughly $13M of lost assets in July 2021. And its RUNE token remains over 90% off its all-time high of $20.24, which came in May 2021 when most DeFi tokens peaked.\nThe project also faced a security scare which became widely known on Aug. 16, when a node operator — THORChain is an independent blockchain —revealedthat traders were paying extremely high funding fees to short RUNE right before the launch of a new lending product.\nThe node operator, who goes by TCB, suspected that the person behind the trades planned to exploit THORChain once the lending product went live.\nTHORChain uses a cryptographic system called Threshold Signature Scheme (TSS). According to TCB, ethical hackers had revealed a possible vulnerability in the system previously and THORChain had the capability to patch it. However, because it’s an open-source project, patching it would have revealed the security hole in all projects which use it.\n“In this particular case the only way to upgrade the network without disclosing the vulnerability to the entire world is to upgrade the TSS with closed source components (a private release),” TCB wrote. “This type of release is philosophically discouraged in decentralized, open-source protocols. However, there's no other good options.”\nTHORChain is planning to go ahead with its collateralized lending product. Initially supported assets will be ETH and BTC, with plans to enable lending against more assets in the future.\nMore broadly, THORChain’s plans involve expanding its product offerings by adding order book functionality as well as an option to trade perpetual futures.\nIt’s also collaborating with major wallets — FamiliarCow said the project “has a foot in the door” with hardware wallet maker Ledger to facilitate swaps between assets. Trust Wallet, which claims to have over 60M users, already uses THORChain under the hood to facilitate swaps.\nTHORChain wants to “be everywhere and deliver the best product at the lowest layer of the stack with absolutely no third-party dependencies on any other protocol,” he said. “That's the whole game.”\nRead the original post on The Defiant", "In a bear market, price action like RUNE\x92s stands out. The token of the cross-chain liquidity protocol THORChain has surged over 40% this week despite a brutal selloff across broader markets. RUNE hit a four-month high of $1.64 on Aug. 18. THORChain Processes Record Volume After Introducing \x91Streaming Swaps\x92 The momentum isn\x92t limited to the token \x97 THORChain also notched up a record volume day on Aug. 14, when it facilitated over $100M of trades. THORChain Processes Record Volume After Introducing \x91Streaming Swaps\x92 Streaming Swaps Wealthy investors have begun to use the protocol for large swaps, FamiliarCow, the Communications Director for Nine Realms, the THORChain core developers' group, told The Defiant. The project facilitated its largest ever swap of 3150 ETH for 2,482,348 RUNE, worth roughly $3.65M, on Aug. 15. \x93We're seeing like these big trades that we haven't really seen before,\x94 FamiliarCow said. He attributes the volume to a new product called streaming swaps which launched on Aug. 1. Streaming swaps break up cross-chain trades into smaller parts that are executed over up to 24 hours. As the trade progresses, arbitrageurs step in to rebalance the pool so that less value is lost to slippage. \x93It's opening up a new market because obviously you can put a lot of size through so the whales are coming to town,\x94 FamiliarCow said. THORChain\x92s momentum is notable because of the project\x92s unique position in DeFi \x97 it\x92s not quite a bridge, which moves homogenous assets across blockchains \x97 it\x92s more like an exchange like Coinbase or Binance, which facilitates trades between tokens with the endpoints being each asset\x92s native blockchain. Considering that the SEC has sued both Binance and Coinbase as part of a broader crypto crackdown, a decentralized application like THORChain may prove particularly valuable to the crypto ecosystem. This is because it fills a similar role to the exchange but, at least in theory, has a smaller regulatory attack surface by being decentralized. FamiliarCow didn\x92t shy away from comparisons to billion-dollar behemoths. \x93What\x92s being built here is honestly the replacement of the centralized exchange,\x94 he said. Story continues Past Exploits To be sure, THORChain has faced its share of bumps in the road. The project suffered back-to-back hacks resulting in roughly $13M of lost assets in July 2021. And its RUNE token remains over 90% off its all-time high of $20.24, which came in May 2021 when most DeFi tokens peaked. The project also faced a security scare which became widely known on Aug. 16, when a node operator \x97 THORChain is an independent blockchain \x97 revealed that traders were paying extremely high funding fees to short RUNE right before the launch of a new lending product. The node operator, who goes by TCB, suspected that the person behind the trades planned to exploit THORChain once the lending product went live. THORChain uses a cryptographic system called Threshold Signature Scheme (TSS). According to TCB, ethical hackers had revealed a possible vulnerability in the system previously and THORChain had the capability to patch it. However, because it\x92s an open-source project, patching it would have revealed the security hole in all projects which use it. \x93In this particular case the only way to upgrade the network without disclosing the vulnerability to the entire world is to upgrade the TSS with closed source components (a private release),\x94 TCB wrote. \x93This type of release is philosophically discouraged in decentralized, open-source protocols. However, there's no other good options.\x94 Collateralized Lending THORChain is planning to go ahead with its collateralized lending product. Initially supported assets will be ETH and BTC, with plans to enable lending against more assets in the future. More broadly, THORChain\x92s plans involve expanding its product offerings by adding order book functionality as well as an option to trade perpetual futures. It\x92s also collaborating with major wallets \x97 FamiliarCow said the project \x93has a foot in the door\x94 with hardware wallet maker Ledger to facilitate swaps between assets. Trust Wallet, which claims to have over 60M users, already uses THORChain under the hood to facilitate swaps. THORChain wants to \x93be everywhere and deliver the best product at the lowest layer of the stack with absolutely no third-party dependencies on any other protocol,\x94 he said. \x93That's the whole game.\x94 Read the original post on The Defiant", "After nearly a month of low volatility, the bottom fell out of crypto markets on Thursday.\nBitcoin and Ether have fallen by 12% and 10% respectively over the past seven days, with other tokens experiencing even steeper declines.\nInvestors' interest in riskier assets like cryptocurrencies seems to have waned as US Treasury yields reach a16-year high. Fears of further rate hikes by the Federal Reserve to combat inflation, along with the upcoming second estimate of US GDP data for Q2 2023, set to be released on August 30, are contributing factors.\nThe market now anticipates a 10% chance of a 25 bps rate hike in September, with 32% expecting one in November.\nIn the past 24 hours, over $1B of leveraged positions were wiped out, marking the largest single-day liquidation event since the implosion of FTX in November 2022.\nNearly $800M of liquidations took place in just 30 minutes as BTC and ETH briefly crashed below $25,000 and $1,500 respectively.\nAmid the carnage, there were some bright spots.\nThe SEC is reportedly set to approve an ETH futures ETF by October, and Grayscale is hiring for its ETF division.\nTHORChain's RUNE token has rallied 42% over the past week, likely due to its new streaming swaps feature.\nUniswap's UNI and Axie Infinity's AXS were battered, losing nearly a fifth of their value in the past week.\nShiba Inu fell 17% after the catastrophic launch of its Layer 2 network, Shibarium, with $1.7M worth of ETH lost forever.\nNotably, Frax's FXS was the only DeFi token not to post double-digit losses, down only4%in the past week.\nRead the original post on The Defiant", "After nearly a month of low volatility, the bottom fell out of crypto markets on Thursday. Bitcoin and Ether have fallen by 12% and 10% respectively over the past seven days, with other tokens experiencing even steeper declines. Markets Crater After Weeks Of Sideways Action Investors' interest in riskier assets like cryptocurrencies seems to have waned as US Treasury yields reach a 16-year high . Fears of further rate hikes by the Federal Reserve to combat inflation, along with the upcoming second estimate of US GDP data for Q2 2023, set to be released on August 30, are contributing factors. The market now anticipates a 10% chance of a 25 bps rate hike in September, with 32% expecting one in November. $800M Liquidated In 30 Minutes In the past 24 hours, over $1B of leveraged positions were wiped out, marking the largest single-day liquidation event since the implosion of FTX in November 2022. Nearly $800M of liquidations took place in just 30 minutes as BTC and ETH briefly crashed below $25,000 and $1,500 respectively. Markets Crater After Weeks Of Sideways Action Amid the carnage, there were some bright spots. The SEC is reportedly set to approve an ETH futures ETF by October, and Grayscale is hiring for its ETF division. THORChain's RUNE token has rallied 42% over the past week, likely due to its new streaming swaps feature. THORChain Processes Record Volume After Introducing ‘Streaming Swaps’ Major Losers Uniswap's UNI and Axie Infinity's AXS were battered, losing nearly a fifth of their value in the past week. Shiba Inu fell 17% after the catastrophic launch of its Layer 2 network, Shibarium, with $1.7M worth of ETH lost forever. Markets Crater After Weeks Of Sideways Action Notably, Frax's FXS was the only DeFi token not to post double-digit losses, down only 4% in the past week. Read the original post on The Defiant", 'Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., February 6, 2020. Lucas Jackson/Reuters US stocks finished mixed on Friday, with the Dow completing its worst week since March. The S&P 500 and Nasdaq Composite both notched their third consecutive week of declines. Meanwhile in Hong Kong, the Hang Seng Index closed in bear market territory amid China concerns. US stocks traded mixed to close Friday\'s session, as each of the major indexes capped off losing weeks amid a spike in bond yields. The Dow lost more than 2% for the week, completing its worst week since March, while the S&P 500 and Nasdaq Composite both saw their third straight losing weeks. The weekly declines came as the 10-year US Treasury yield on Thursday hit the highest level since 2007 on signs the Federal Reserve remains concerned about inflation and is open to more rate hikes. Meanwhile in Hong Kong, the Hang Seng Index entered bear market territory as traders have been responding to fears about China\'s economy and property sector. Chinese government data in recent weeks has revealed deflation, softening trade, and an unsteady housing sector. On Thursday, China Evergrande, the world\'s most heavily indebted developer , filed for Chapter 15 bankruptcy protection. Here\'s where US indexes stood as the market closed at 4:00 p.m. on Friday: S&P 500 : 4,369.71, down 0.01% Dow Jones Industrial Average : 34,500.66, up 0.07% (25.83 points) Nasdaq Composite : 13,290.78, down 0.20% Here\'s what else is going on: America\'s favorite weight loss drugs are impacting Denmark\'s currency and interest rates . Stocks are nearing a perfect "buy the dip" opportunity, according to Fundstrat\'s Tom Lee. Texas electricity prices soared 6,000% with the next heat wave expected to shatter records . The $1 trillion of high yield debt that\'s piled up over the last five years is about to have a "day of reckoning," Bank of America said. Bitcoin plunged more than 10% after Elon Musk\'s SpaceX reportedly sold the crypto. The surge in bankruptcy filings this year isn\'t as scary as it sounds . In commodities, bonds, and crypto: Oil prices climbed, with West Texas Intermediate up 1.01% to $81.20 a barrel. Brent crude , the international benchmark, inched 0.76% higher to $84.76 a barrel Gold edged up 0.13% to $1,917.70 per ounce The 10-year yield ticked down 5 basis points to 4.255% Bitcoin tumbled 6.49% to $26,065. Read the original article on Business Insider View comments', '• US stocks finished mixed on Friday, with the Dow completing its worst week since March.\n• The S&P 500 and Nasdaq Composite both notched their third consecutive week of declines.\n• Meanwhile in Hong Kong, the Hang Seng Index closed in bear market territory amid China concerns.\nUS stocks traded mixed to close Friday\'s session, as each of the major indexes capped off losing weeks amid a spike in bond yields.\nThe Dow lost more than 2% for the week, completing its worst week since March, while the S&P 500 and Nasdaq Composite both saw their third straight losing weeks.\nThe weekly declines came as the 10-year US Treasury yield on Thursday hit the highest level since 2007 on signs the Federal Reserve remains concerned about inflation and is open to more rate hikes.\nMeanwhile in Hong Kong, the Hang Seng Indexentered bear market territoryas traders have been responding tofears about China\'s economyand property sector.\nChinese government data in recent weeks has revealed deflation, softening trade, and an unsteady housing sector. On Thursday, China Evergrande,the world\'s most heavily indebted developer, filed for Chapter 15 bankruptcy protection.\nHere\'s where US indexes stood as the market closed at 4:00 p.m. on Friday:\n• S&P 500:4,369.71, down 0.01%\n• Dow Jones Industrial Average:34,500.66, up 0.07% (25.83 points)\n• Nasdaq Composite:13,290.78, down 0.20%\nHere\'s what else is going on:\n• America\'s favorite weight loss drugs areimpacting Denmark\'s currency and interest rates.\n• Stocks are nearing a perfect"buy the dip" opportunity,according to Fundstrat\'s Tom Lee.\n• Texas electricity prices soared 6,000% withthe next heat wave expected to shatter records.\n• The $1 trillion of high yield debt that\'s piled up over the last five years isabout to have a "day of reckoning,"Bank of America said.\n• Bitcoin plunged more than 10% afterElon Musk\'s SpaceX reportedly sold the crypto.\n• The surge in bankruptcy filings this yearisn\'t as scary as it sounds.\nIn commodities, bonds, and crypto:\n• Oil prices climbed, withWest Texas Intermediateup 1.01% to $81.20 a barrel.Brent crude, the international benchmark, inched 0.76% higher to $84.76 a barrel\n• Goldedged up 0.13% to $1,917.70 per ounce\n• The10-year yieldticked down 5 basis points to 4.255%\n• Bitcointumbled 6.49% to $26,065.\nRead the original article onBusiness Insider', "• BTC’s fall below $26,000 is poised to be the worst weekly decline since the collapse of FTX.\n• Absence of a decision in the closely followed Grayscale vs. SEC lawsuit didn’t support the recovery.\n• Market observers are divided on whether the correction is over.\nBitcoin (BTC) is poised to endure its worst weekly decline since theFTX crashlast November following the crypto market mayhem seen Thursday, and optimistics’ hopes were dashed when a pivotal decision in the court battled between Grayscale and U.S. regulators – which could support BTC’s price – failed to materialize Friday.\nBTC’s price slipped below $26,000 Friday afternoon after a rally toward $27,000 – which erased some of Thursday’s sharp decline – fizzled. The largest cryptocurrency by market capitalization had plummeted to $25,392 Thursday afternoon, hitting its lowest price since mid-June, amid cascading liquidations of leveraged trading positions.\nThe price action puts the flagship crypto’s decline at roughly 11% this week, on track for the worst weekly return since November’s market crash to $15,000 that was induced by the failure of Sam Bankman-Fried’s FTX.\nEther (ETH) dropped some 10% during the week, holding up slightly better than BTC due to news that the U.S. Securities and Exchange Commission (SEC) iswilling to approveexchange-traded funds, or ETFs, that hold ETH futures. The second-largest crypto, however, entered into “significant downtrend” for the first time in two months, according to CoinDesk’strend indicator, suggesting strong momentum to the downside.\nRipple’sXRP, Polygon’sMATICand popular dog-themed memecoinsDOGEandSHIBsuffered 15% to 20% losses this week.\nTheCoinDesk Market Index, proxy for the broader crypto market performance, fell more than 12% during the week.\nMarket observers had been focused on 11 a.m. ET (15:00 UTC) Friday, when there was reason to believe there could be a court decision in the legal feud between investment manager Grayscale and the SEC. But the time came and went with nothing announced.\nGrayscale – a subsidiary of DCG, which also owns CoinDesk – wants to convert its $12 billionGBTC bitcoin trustinto an ETF – which could dramatically improve its appeal to investors – but the regulator rejected it. Grayscale sued to overturn the decision.\nThe verdict “looms large” over the market, Rachel Lin, CEO and co-founder of derivatives decentralized exchange SynFutures, said in an email.\n“A favorable outcome might provide a substantial tailwind for BTC,” she explained. “Although an adverse ruling wouldn't inherently spell doom for BTC, it might accentuate prevailing bearish sentiments.”\nIn the absence of any decision, bitcoin’s price dipped below $26,000 after trading above that price for most of the day.\nSome observers tied Thursday's decline to news events such as macroeconomic gloom, but the drop can be explained by excessive leverage, crypto market analytics firm K33 Research wrote in a report.\n“The sudden drop in crypto prices was driven by market structure rather than news,” K33 said. “While many have tried to hang the sharp drop on different news, ranging from news of SpaceX (Tesla) selling BTC or increased expectations of interest rate hikes in the U.S., none of these can explain the timing or the sharpness of the drop.”\n“However, the build-up of leverage – open interest in the derivatives market – created the perfect conditions for rapid feedback loops, as evidenced by the sizable amount of liquidations and subsequent drop in open interest,” K33 added.\nRead more:No, Elon Musk's SpaceX Isn't the Cause of This Multi-Billion-Dollar Bitcoin Bloodbath\nThe flush out might actually be positive for BTC’s prospects, the report argued. “There is no reason this drop should lead to a continued negative trend. If anything, the wipeout of longs and increased shorting may lay the foundations for an upcoming short squeeze.”\nQCP Capital differs, expecting another leg down to near $24,000 around the end of September.\n“We believe that a lot now rests on [U.S. Federal Reserve Chair Jerome] Powell's speech at Jackson Hole next week, but having held the very key 24-25k zone on this move, our wave count calls for an end to the corrective Wave A here, a bounce in Wave B to retest the bottom of the wedge,” the firm explained in a market update sent via Telegram. “This ends off with the final Wave to end the quarter.”\nMichael Silberberg, head of investor relations at AltTab Capital, said in an email that the recent dip offers investors a chance to add to their stash if they have a longer time horizon.\n“Despite this drop, we still saw new inflows over the past week as long-term investors, like ourselves, saw discounted prices as an opportunity to accumulate more bitcoin,” he said.", "• BTC’s fall below $26,000 is poised to be the worst weekly decline since the collapse of FTX.\n• Absence of a decision in the closely followed Grayscale vs. SEC lawsuit didn’t support the recovery.\n• Market observers are divided on whether the correction is over.\nBitcoin (BTC) is poised to endure its worst weekly decline since theFTX crashlast November following the crypto market mayhem seen Thursday, and optimistics’ hopes were dashed when a pivotal decision in the court battled between Grayscale and U.S. regulators – which could support BTC’s price – failed to materialize Friday.\nBTC’s price slipped below $26,000 Friday afternoon after a rally toward $27,000 – which erased some of Thursday’s sharp decline – fizzled. The largest cryptocurrency by market capitalization had plummeted to $25,392 Thursday afternoon, hitting its lowest price since mid-June, amid cascading liquidations of leveraged trading positions.\nThe price action puts the flagship crypto’s decline at roughly 11% this week, on track for the worst weekly return since November’s market crash to $15,000 that was induced by the failure of Sam Bankman-Fried’s FTX.\nEther (ETH) dropped some 10% during the week, holding up slightly better than BTC due to news that the U.S. Securities and Exchange Commission (SEC) iswilling to approveexchange-traded funds, or ETFs, that hold ETH futures. The second-largest crypto, however, entered into “significant downtrend” for the first time in two months, according to CoinDesk’strend indicator, suggesting strong momentum to the downside.\nRipple’sXRP, Polygon’sMATICand popular dog-themed memecoinsDOGEandSHIBsuffered 15% to 20% losses this week.\nTheCoinDesk Market Index, proxy for the broader crypto market performance, fell more than 12% during the week.\nMarket observers had been focused on 11 a.m. ET (15:00 UTC) Friday, when there was reason to believe there could be a court decision in the legal feud between investment manager Grayscale and the SEC. But the time came and went with nothing announced.\nGrayscale – a subsidiary of DCG, which also owns CoinDesk – wants to convert its $12 billionGBTC bitcoin trustinto an ETF – which could dramatically improve its appeal to investors – but the regulator rejected it. Grayscale sued to overturn the decision.\nThe verdict “looms large” over the market, Rachel Lin, CEO and co-founder of derivatives decentralized exchange SynFutures, said in an email.\n“A favorable outcome might provide a substantial tailwind for BTC,” she explained. “Although an adverse ruling wouldn't inherently spell doom for BTC, it might accentuate prevailing bearish sentiments.”\nIn the absence of any decision, bitcoin’s price dipped below $26,000 after trading above that price for most of the day.\nSome observers tied Thursday's decline to news events such as macroeconomic gloom, but the drop can be explained by excessive leverage, crypto market analytics firm K33 Research wrote in a report.\n“The sudden drop in crypto prices was driven by market structure rather than news,” K33 said. “While many have tried to hang the sharp drop on different news, ranging from news of SpaceX (Tesla) selling BTC or increased expectations of interest rate hikes in the U.S., none of these can explain the timing or the sharpness of the drop.”\n“However, the build-up of leverage – open interest in the derivatives market – created the perfect conditions for rapid feedback loops, as evidenced by the sizable amount of liquidations and subsequent drop in open interest,” K33 added.\nRead more:No, Elon Musk's SpaceX Isn't the Cause of This Multi-Billion-Dollar Bitcoin Bloodbath\nThe flush out might actually be positive for BTC’s prospects, the report argued. “There is no reason this drop should lead to a continued negative trend. If anything, the wipeout of longs and increased shorting may lay the foundations for an upcoming short squeeze.”\nQCP Capital differs, expecting another leg down to near $24,000 around the end of September.\n“We believe that a lot now rests on [U.S. Federal Reserve Chair Jerome] Powell's speech at Jackson Hole next week, but having held the very key 24-25k zone on this move, our wave count calls for an end to the corrective Wave A here, a bounce in Wave B to retest the bottom of the wedge,” the firm explained in a market update sent via Telegram. “This ends off with the final Wave to end the quarter.”\nMichael Silberberg, head of investor relations at AltTab Capital, said in an email that the recent dip offers investors a chance to add to their stash if they have a longer time horizon.\n“Despite this drop, we still saw new inflows over the past week as long-term investors, like ourselves, saw discounted prices as an opportunity to accumulate more bitcoin,” he said.", "Major indexes were down this past week as minutes from the latest Federal Open Market Committee meeting revealed that most Fed governorssupport raising interest rates even further before the end of the year.\nSome fragmentation within the board began to appear at the July meetingthat took interest rates to a range of 5.25%-5.5%. Certain members stated they would support further rate pauses, breaking away from the unanimity of opinion that marked the first meetings of this wave of hikes.\nThe S&P 500 and the Dow Jones were both down 1.8% on the week at press time. The Nasdaq Composite is down 2.3% on a weekly basis..\nFed talk is likely one of the factors in the cryptocurrency sphere as well. Bitcoin lost 10% on a weekly basis, with a large drop Thursday evening. Ethereum also nosedived, losing 9% of its value by Friday.\nWalmart lost 3% after earnings, although the company beat analyst consensus estimates on revenue,which was up 5.7% year-on-year in the retailer’s second quarter earnings report. Although positive performance allowed management to raise its outlook for the rest of the year, investors continue to sell, responding to the general trend of volatility. As opposed to Walmart, competitorTarget’s online sales fell last quarter, and the retailer missed analyst expectations for sales and cut its earnings outlook in the second-quarter report..\nWhile Target’s stock losses this past week were not as significant as Walmart’s, the larger picture tells a different story. Walmart is up 6% in the last six months while Target is down a whopping 21%.\nBank stocks also dropped this past week as Fitch Ratings warned that a potential dip in the industry’s outlookwould cause the firm to review the ratings of specific banks, including possible downgrades for JPMorgan Chase, which was down 3% on the week.\nCisco Systems is one of the exceptions in a down week. Shares traded higher afterthe company’s quarterly call beat expectations on revenue and earnings, and management communicated a rebound in product orders, possibly led by AI enthusiasm.\nSome high-profile companies continue to report quarterly earnings next week. Zoom Video Communications will report on Monday, Lowe's Companies on Tuesday and Nvidia will do so on Wednesday. Software company Inuit will report on Thursday.\nNext week will also shed light on the health of the real estate market, with reports of existing home sales for the month of July coming out on Monday and the new home sales report on Wednesday.\nInvestors should keep an eye out for Fed Chair Jerome Powell’s speech on Friday morning, which will likely affect the course of the market that day.\nBenzinga is a financial news and data company headquartered in Detroit.\nThis article originally appeared on Detroit Free Press:Stocks, cryptocurrencies drop as fear of new interest rate hikes mount", '• Bitcoin plunged about 10% after it was revealed thatSpaceXsold the cryptocurrency.\n• The Wall Street Journal reported that SpaceX wrote down the value of bitcoin it owns by $373 million.\n• The recent jump in bond yields to 16-year highs has weighed on risk assets overall, including crypto.\nThe price of bitcoin plunged about 10% hours after it was revealed that Elon Musk\'s SpaceX sold the cryptocurrency.\nThe Wall Street Journalreported on Thursdaythat SpaceX, which first purchased bitcoin in 2021, wrote down the value of its bitcoin holdings by a total of $373 million in 2021 and 2022 and has sold the crypto.\nThe write-down coincides with a steep drop in bitcoin\'s price, which crashed in late 2021, setting off a "crypto winter" that extended through most of 2022.\nMeanwhile, Musk\'s electric vehicle companyTeslamade similar moves with bitcoin. Last year, the company disclosed that it sold most of its bitcoin holdings after acquiring it in 2021.\nFollowing the WSJ report, which cited SpaceX financial documents, the price of bitcoin plunged about 8% to about $26,500, and has since further decline to about $26,200. The price of bitcoin is down 11% over the past week, trading at levels last seen in mid-June.\nThe jump in bond yields has also been weighing on risk assets overall, including crypto. On Thursday, the 10-year Treasury yield hit the highest level since 2007 amid indications the Federal Reserve remains hawkish on rates.\nPrior to the recent slide, bitcoin had been trading in a sideways range for months as investors held out hope for the potential SEC approval of a spot bitcoin ETF, with applications from big-name financial institutions like BlackRock.\nFundstrat\'s Tom Lee has argued that a potential bitcoin ETF approval couldsend the cryptocurrency to new highs above the $100,000 level.\nBut the SEC has yet to show any indication that an approval is imminent, and more recently has delayed action on several bitcoin ETF applications.\nRead the original article onBusiness Insider', '• Bitcoin plunged about 10% after it was revealed thatSpaceXsold the cryptocurrency.\n• The Wall Street Journal reported that SpaceX wrote down the value of bitcoin it owns by $373 million.\n• The recent jump in bond yields to 16-year highs has weighed on risk assets overall, including crypto.\nThe price of bitcoin plunged about 10% hours after it was revealed that Elon Musk\'s SpaceX sold the cryptocurrency.\nThe Wall Street Journalreported on Thursdaythat SpaceX, which first purchased bitcoin in 2021, wrote down the value of its bitcoin holdings by a total of $373 million in 2021 and 2022 and has sold the crypto.\nThe write-down coincides with a steep drop in bitcoin\'s price, which crashed in late 2021, setting off a "crypto winter" that extended through most of 2022.\nMeanwhile, Musk\'s electric vehicle companyTeslamade similar moves with bitcoin. Last year, the company disclosed that it sold most of its bitcoin holdings after acquiring it in 2021.\nFollowing the WSJ report, which cited SpaceX financial documents, the price of bitcoin plunged about 8% to about $26,500, and has since further decline to about $26,200. The price of bitcoin is down 11% over the past week, trading at levels last seen in mid-June.\nThe jump in bond yields has also been weighing on risk assets overall, including crypto. On Thursday, the 10-year Treasury yield hit the highest level since 2007 amid indications the Federal Reserve remains hawkish on rates.\nPrior to the recent slide, bitcoin had been trading in a sideways range for months as investors held out hope for the potential SEC approval of a spot bitcoin ETF, with applications from big-name financial institutions like BlackRock.\nFundstrat\'s Tom Lee has argued that a potential bitcoin ETF approval couldsend the cryptocurrency to new highs above the $100,000 level.\nBut the SEC has yet to show any indication that an approval is imminent, and more recently has delayed action on several bitcoin ETF applications.\nRead the original article onBusiness Insider']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-19
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $506,893,577,850
- Hash Rate: 364613148.6729948
- Transaction Count: 519780.0
- Unique Addresses: 628343.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.39
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin (BTC) miners have sent over a billion dollars worth of the asset to crypto exchanges over the past two weeks but not necessarily to sell the tokens. Miners are entities that utilize extensive computing power to solve sophisticated encryptions and produce blocks on the Bitcoin blockchain. Each block rewards 6.25 BTC to miners, who typically sell the amount to fund or expand operations. In a tweet Tuesday , analytics firm CryptoQuant said over 33,860 BTC has been sent to derivatives exchanges, although the majority had since been recovered back to proprietary wallets. Miners also reduced reserve holdings by 8,000 BTC in their reserves in which only a small portion was sent to spot trading exchanges, the firm added. “This could signal that miners may be using their newly minted coins as collateral in derivatives trading activities,” CryptoQuant analysts said. “A good example of this type of trading is known as "hedging", which uses bets in the opposite direction to market consensus.” Bitcoin has risen nearly 20% in the past two weeks amid favorable catalysts such as spot Bitcoin ETF filings by a flurry of traditional finance companies and increased trading interest . On-chain metrics have previously suggested bitcoin could already be in the early stages of a bull market – meaning Bitcoin-based businesses, such as miners, could already be taking steps to manage their reserves and holdings. Meanwhile, the past few days saw $128 million worth of bitcoin rewards sent to crypto exchanges, an amount estimated to total 315% of daily mining revenues, as per on-chain analytics firm Glassnode. This was the largest-ever sent amount on record by this metric. Similar amounts sent to exchanges have previously caused a reversal in price spikes if buyer demand isn’t able to absorb the sales....
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Aug. 20—When Danny McCargar went to work at a windowless, nondescript building just south of Columbia Falls off of Montana 206 last December, he found the lights off and power disconnected.\nMcCargar worked as a technician at a Columbia Falls Bitcoin mining facility owned by VBit Technologies and was contracted by Frontier Mining.\nVBit has been accused of committing fraud and selling unregistered securities, and the company is the target of class-action lawsuits alleging racketeering and securities fraud violations that have been filed in federal court in Delaware and Pennsylvania.\nPlaintiffs say that the company\'s CEO, Danh "Don" Vo, stole millions of dollars from them before disappearing following the cryptocurrency bubble bursting last year.\nMontana financial regulators ordered the company to stop operations in the state and pay a fine following a Daily Inter Lake investigation published in January.\nNow McCargar, a former contractor, has come forward with details about the company\'s collapse after losing his job, saying VBit may also owe his former employer and the local electric utility money.\nIn his job at the Columbia Falls building, McCargar spent his days making sure that the 1,000 computers — set up to cash in on the digital cryptocurrency Bitcoin — were operating smoothly. When a computer needed repairs, McCargar would replace parts like fans to get them back up and running.\nIn December, McCargar arrived for work, but found the lights off and power disconnected.\nMcCargar checked outage maps and saw that electricity should have been flowing normally to the facility. When he had a co-worker check with Flathead Electric Co-op, he said that an employee informed him that the power had been cut because VBit had racked up around $300,000 in unpaid electric bills.\nFlathead Electric spokesperson Courtney Stone would not confirm the debt, citing co-op privacy rules. She did say that members have about two weeks to pay past due bills before they are subject to disconnection.\nThe building\'s previous owner, Jeff Russell, described the facility as having a 3.8 megawatt capacity, meaning that it could consume as much electricity as around 3,800 homes in the Flathead Valley.\nRussell said he was attracted to Northwest Montana as a location for the power-intensive operation because of the region\'s abundant and cheap electricity as well as its frigid winters, which mitigated the need for expensive cooling costs.\nAfter the Columbia Falls facility earned approval in 2018, the co-op issued a six month moratorium on future cryptocurrency facilities and later updated its policies governing what it describes as "high density loads." Cryptocurrency mining is listed on the co-op\'s website as an example of an activity that requires "significant amounts of power at a constant rate."\nStone also wanted to reassure co-op members that their rates would not rise in the event of such an unpaid debt, saying that the utility requires a deposit and insurance to protect members from a domino effect triggered by unpaid fees.\nNOW THE Columbia Falls facility sits vacant, the computers packed up and VBit leadership nowhere to be found.\nMcCargar said he thought something was wrong with the company when representatives stopped approving the purchase of replacement parts necessary to keep the computers running.\nMany computers were failing and needed replacement fans to prevent overheating.\nMcCargar said that he never saw individual computers labeled or identified as belonging to individual customers, and that the funds generated by the computers all fed into one account, which would appear to contradict VBit\'s online advertising.\nThe company claimed that for an initial fee, often in the tens of thousands of dollars, and monthly charges, the company would set up and run individual computers for investors, an appealing service to those without the space or technical expertise to mine Bitcoin themselves.\nMcCargar said his last day in the Columbia Falls facility was in early March, when he disconnected the computers and packaged them for shipment to a Frontier Mining facility in Texas. He said he was told the contract between the two companies allowed Frontier to take the computers to recoup money that they were owed for their services.\nFrontier Mining CEO Arland Whitfield did not respond to requests for comment.\nMcCargar said he helped give tours to visitors who were prospective or existing VBit customers, but never thought anything was amiss.\nVBit officials could not be reached, and investors claim the company\'s CEO is on the run.\nCEO Don Vo\'s lawyers have dropped him and his colleagues as clients in the class action lawsuits against them, saying in court documents that he has been unresponsive.\nVo\'s LinkedIn page says he is "retired, for now."\nReporter Adrian Knowler can be reached at 758-4407 [email protected].']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-20
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $507,614,503,000
- Hash Rate: 421909500.6073226
- Transaction Count: 612461.0
- Unique Addresses: 691316.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.37
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin Depot is the world’s largest bitcoin ATM operator. The company went public in July, is well-capitalized, and may seek to acquire smaller operators that struggle with key operational challenges. A lot has changed since Brandon Mintz bought his first bitcoin on what he describes as a “crappy website” in 2013. He’s now CEO of Bitcoin Depot, the world’s largest bitcoin ATM operator , which he founded three years after that first crypto purchase. The company went public in July – listing its shares on Nasdaq after a merger with a special purpose acquisition company (SPAC) – and now Mintz says he’s seeing slimmer profit margins for mom-and-pop operators as competition heats up. The crypto ATM sector is teeming with nearly 40,000 machines worldwide , about 6,400 of which belong to Bitcoin Depot. Consequently, the 29-year-old executive – whose company now has access to the capital markets – says he’s willing to buy out the little guy. “Before Covid… there were a lot of new entrants into the bitcoin ATM industry, a lot of small operators,” Mintz told CoinDesk in an interview. “If you had everything in place to operate a bitcoin ATM, you could put one on a busy street corner in a big city, and it was almost like a guarantee that you would do decent enough to be profitable.” Read more: Crypto ATM Operator Bitcoin Depot's Stock Rises 12% in Stock Debut The “cash cow” quality, or reliable profitability of the bitcoin ATM business may have been the norm before 2020, but that year, the total number of crypto ATMs exploded exponentially from just over 6,000 machines to a peak of nearly 40,000 globally by 2022. Crypto ATM customers are typically unbanked or underbanked – lacking full access to financial services due to poverty, immigration status or general distrust of the mainstream financial system. Without traditional banking relationships, they can’t purchase crypto from online exchanges like Coinbase or Binance. Although the process of using a crypto ATM may vary, users are usually only required to have cash, a phone, and a piece of identification. (There may be additional requirements depending on the transaction amount.) “For us, it is your first and last legal name, your phone number, your email address, and we run you through sanction screening,” Mintz explained. “You also have to verify you own the wallet address being provided personally, and you're not sending bitcoin to a third party.” The crypto ATM sector is now projected to grow from $117 million to $5.5 billion by 2030, according to market research site Global Information – although Mintz says as the industry matures, small players will likely get squeezed out. Story continues “With the competition these days… you have to have a strong brand that is recognizable,” said Mintz. “A lot of the small operators realized over the past year that it's going to be very difficult to compete. A lot of them, anecdotally from conversations, are thinking about, ‘Should I try to compete, or should I get out and sell my portfolio to some larger company such as Bitcoin Depot?’” Case in point, in 2019, the firm acquired what Mintz described as a “struggling” Texas-based operator named DFW Bitcoin that owned 10 kiosks. “A lot of people don't have any compliance staff. They don't even have a website,” Mintz said. “It literally may just be one guy and his brother.” When regulators come knocking The lack of robust compliance is one of the most common reasons crypto ATM operators fail. Despite the surge in ATM installations during the past couple of years, March saw the industry’s largest decline in machines, as more than 3,600 of them were shut down, according to crypto ATM data site Coin ATM Radar. It’s not clear if the high number of shutdowns was due to the February bankruptcy of a large operator by the name of Coin Cloud – a company with more than 4,000 bitcoin ATMs across the U.S. and Brazil – or a major security incident at General Bytes, the largest manufacturer of crypto ATMs, according to Coin ATM Radar, or some combination. What is clear is that many small operators struggle with regulatory adherence. In February, the U.K.'s Financial Conduct Authority (FCA) took steps to shut down all 27 crypto ATMs in that country because none had registered with the regulator. Bity, a small operator in Switzerland, has been told by the country’s Financial Market Supervisory Authority (FINMA) that it must establish the identity of any user involved in transactions exceeding 1,000 francs (roughly $1,150) over a 30-day period. Bity vowed to fight FINMA regarding the issue, and the seemingly undercapitalized firm turned to crowdfunding to raise money for its legal bills. Even larger firms like Bitcoin of America went out of business due to licensing issues and scams, specifically in Connecticut and Ohio . Mintz says he realized compliance was critical to Bitcoin Depot’s success early in the company’s history. “My goal was always to create the strongest compliance program and hire really good compliance staff, including a compliance officer that I hired very early on in the business,” Mintz recalled. “We've always strived to go above and beyond what's legally required of us.” That early focus on compliance may have been the key to Bitcoin Depot’s current success. The company says it’s on track to bring in around $700 million in revenue this year. With that kind of capital in such a competitive market, Mintz will likely have his pick of the litter when it comes to potential acquisitions. “We have the best reputation and we have the most access to capital,” Mintz said. “We have the ability more than ever to consolidate the industry.” UPDATE (Aug. 11, 14:30 UTC): Adds details about Coin Cloud bankruptcy in 13th paragraph. View comments...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['By Tom Westbrook SINGAPORE, Aug 21 (Reuters) - The dollar began on a firm footing on Monday, following five straight weeks of gains, as investors looked ahead to Federal Reserve\'s Jackson Hole symposium for a guide on where rates might settle when the dust of this hiking cycle clears. The dollar made a gain of 0.7% on the euro last week, inched ahead on the yen and surged by more than 1% on the Antipodean currencies as U.S. Treasury yields leapt in anticipation of interest rates staying higher for longer. In early trade, the Australian dollar, steady at $0.6409, was just above last week\'s nine-month low of $0.6365 and the New Zealand dollar was pinned at $0.5923, also uncomfortably close to last week\'s low of $0.5903. They have suffered a double blow lately as in both countries central banks have indicated they are on hold, and both are exposed, via exports, to China where market fears about the slowing economy have swelled as property problems deepened. "The Australian dollar will continue to underperform this week in our view," said strategists at the Commonwealth Bank of Australia in a note to clients. "We consider there is a growing risk that the Aussie dips below $0.60 before year-end. It will likely take a big Chinese stimulus package focused on commodity-intensive infrastructure spending to turn around the downtrend." China vowed financial support on the weekend to resolve local government debt problems but details were light and in the absence of more concrete promises traders are starting to lose faith that Beijing will ride to the rescue. For China the focus on Monday is on an expected cut to lending benchmarks. The yuan steadied at 7.3084 per dollar in offshore trade, having bounced off last week\'s lows when state banks stepped in as buyers during London and New York hours. The yen is also on intervention-watch, having fallen to levels around which authorities stepped in last year. It was steady at 145.19 per dollar in early trade. The euro held at $1.0883. Sterling hovered at $1.2738. The Swiss franc was just above a six-week low made last week at 0.8817 per dollar. Apart from waiting for news of stimulus in China, the upcoming Jackson Hole symposium - where Fed chair Jerome Powell is due to speak on Friday - is markets\' major focus and may set the direction for U.S. yields. Ten-year yields rose 14 basis points for the week and touched a 10-month high of 4.328%, within a whisker of a 15-year high. Thirty-year yields rose nearly 11 bps to their highest in more than a decade. The theme this year for the annual gathering in Wyoming is "structural shifts in the global economy". "Two things that may come across are: decades of ultra-low rates backed by ultra-low inflation may be over," said Vishnu Varathan, head of economics and strategy at Mizuho Bank in singapore. "And global policy-makers may prefer to maintain restrictive real rates for a while, thereby keeping risks from volatile inflation alive." Bitcoin, which was battered to a two-month low last week as rising U.S. yields and China\'s slowing economy drove a wave of selling, nursed those losses at $26,129. ======================================================== Currency bid prices at 0033 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0882 $1.0873 +0.10% +1.57% +1.0883 +1.0872 Dollar/Yen 145.1800 145.3300 +0.00% +10.74% +145.4150 +0.0000 Euro/Yen 157.99 158.03 -0.03% +12.61% +158.1500 +157.9700 Dollar/Swiss 0.8815 0.8828 -0.15% -4.67% +0.8825 +0.8814 Sterling/Dollar 1.2747 1.2736 +0.02% +5.33% +1.2749 +1.2735 Dollar/Canadian 1.3539 1.3551 -0.07% -0.05% +1.3553 +1.3542 Aussie/Dollar 0.6414 0.6405 +0.14% -5.90% +0.6418 +0.6407 NZ Dollar/Dollar 0.5927 0.5924 +0.10% -6.61% +0.5936 +0.5923 All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Tom Westbrook. Editing by Sam Holmes)', 'By Tom Westbrook SINGAPORE, Aug 21 (Reuters) - The dollar began on a firm footing on Monday, following five straight weeks of gains, as investors looked ahead to Federal Reserve\'s Jackson Hole symposium for a guide on where rates might settle when the dust of this hiking cycle clears. The dollar made a gain of 0.7% on the euro last week, inched ahead on the yen and surged by more than 1% on the Antipodean currencies as U.S. Treasury yields leapt in anticipation of interest rates staying higher for longer. In early trade, the Australian dollar, steady at $0.6409, was just above last week\'s nine-month low of $0.6365 and the New Zealand dollar was pinned at $0.5923, also uncomfortably close to last week\'s low of $0.5903. They have suffered a double blow lately as in both countries central banks have indicated they are on hold, and both are exposed, via exports, to China where market fears about the slowing economy have swelled as property problems deepened. "The Australian dollar will continue to underperform this week in our view," said strategists at the Commonwealth Bank of Australia in a note to clients. "We consider there is a growing risk that the Aussie dips below $0.60 before year-end. It will likely take a big Chinese stimulus package focused on commodity-intensive infrastructure spending to turn around the downtrend." China vowed financial support on the weekend to resolve local government debt problems but details were light and in the absence of more concrete promises traders are starting to lose faith that Beijing will ride to the rescue. For China the focus on Monday is on an expected cut to lending benchmarks. The yuan steadied at 7.3084 per dollar in offshore trade, having bounced off last week\'s lows when state banks stepped in as buyers during London and New York hours. The yen is also on intervention-watch, having fallen to levels around which authorities stepped in last year. It was steady at 145.19 per dollar in early trade. The euro held at $1.0883. Sterling hovered at $1.2738. The Swiss franc was just above a six-week low made last week at 0.8817 per dollar. Apart from waiting for news of stimulus in China, the upcoming Jackson Hole symposium - where Fed chair Jerome Powell is due to speak on Friday - is markets\' major focus and may set the direction for U.S. yields. Ten-year yields rose 14 basis points for the week and touched a 10-month high of 4.328%, within a whisker of a 15-year high. Thirty-year yields rose nearly 11 bps to their highest in more than a decade. The theme this year for the annual gathering in Wyoming is "structural shifts in the global economy". "Two things that may come across are: decades of ultra-low rates backed by ultra-low inflation may be over," said Vishnu Varathan, head of economics and strategy at Mizuho Bank in singapore. "And global policy-makers may prefer to maintain restrictive real rates for a while, thereby keeping risks from volatile inflation alive." Bitcoin, which was battered to a two-month low last week as rising U.S. yields and China\'s slowing economy drove a wave of selling, nursed those losses at $26,129. ======================================================== Currency bid prices at 0033 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0882 $1.0873 +0.10% +1.57% +1.0883 +1.0872 Dollar/Yen 145.1800 145.3300 +0.00% +10.74% +145.4150 +0.0000 Euro/Yen 157.99 158.03 -0.03% +12.61% +158.1500 +157.9700 Dollar/Swiss 0.8815 0.8828 -0.15% -4.67% +0.8825 +0.8814 Sterling/Dollar 1.2747 1.2736 +0.02% +5.33% +1.2749 +1.2735 Dollar/Canadian 1.3539 1.3551 -0.07% -0.05% +1.3553 +1.3542 Aussie/Dollar 0.6414 0.6405 +0.14% -5.90% +0.6418 +0.6407 NZ Dollar/Dollar 0.5927 0.5924 +0.10% -6.61% +0.5936 +0.5923 All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Tom Westbrook. Editing by Sam Holmes)', "Bitcoin edged up on Monday morning in Asia to trade slightly above the US$26,000 support level, after sliding over 10% for the week. Ether also moved higher but remained below US$1,700 following last week’s losses. Other top 10 non-stablecoin cryptocurrencies traded mixed. XRP led the winners, despite the U.S. Securities and Exchange Commission (SEC) moving to challenge a June court ruling in favor of Ripple Labs. Meanwhile, the Forkast 500 NFT index dropped as NFT marketplace OpenSea said it will stop enforcing creator royalties from August 31. U.S. stock futures traded flat after Wall Street logged weekly losses at close of trading Friday.\nBitcoin edged up 0.28% in the last 24 hours to US$26,178.36 as of 07:30 a.m. in Hong Kong, logging a weekly loss of 10.68%, according toCoinMarketCapdata. The world’s leading cryptocurrency hit a two-month low of US$25,409.11 on Friday, but held position above the US$26,000 support level over the weekend.\nA cool-off of Bitcoin exchange-traded fund (ETF) hype in the U.S. could be behind the retreat of the token. That’s the view of James Butterfill, head of research at European alternative asset manager CoinShares.\n“The surge in June, spurred by BlackRock’s application for SEC approval of a Bitcoin ETF, led to a noticeable spike in prices,” said Butterfill in areportreleased Friday.\n“However, markets are now coming to terms with the realization that an immediate SEC approval for a Bitcoin ETF in the U.S. is unlikely. It’s noteworthy that current Bitcoin prices have stabilized around levels observed before this announcement,” he added.\nThe low volume and volatility in Bitcoin, a rise in U.S. treasury yields, as well as concerns over China’s ailing economy contributed to Bitcoin’s sharp weekly decline, the CoinShares report found.\n“The outlook for the markets in the forthcoming months presents a blend of opportunities and challenges. It’s anticipated that the U.S. Federal Reserve will refrain from hiking rates further in September,” Butterfill said.\nA dovish shift in Fed policy could provide a boost to Bitcoin’s prospects, he added.\n“On the flip side, investors are eagerly awaiting the SEC’s verdict on the Grayscale ETF and BlackRock applications in September. Anticipations are that decisions on both applications might be postponed, potentially leading to investor disappointment,” Butterfly said.\nAlong with Bitcoin, Ether moved up 0.85% to US$1,683.57 but remained 8.50% lower for the past seven days.\nThe U.S. SEC could approve several ETFs based on Ethereum futures by October 2023, Bloombergreportedon Friday citing unnamed sources. Investment firms Volatility Shares, Bitwise, Roundhill and ProShares have all applied for Ethereum ETF licenses.\nOther top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours, but all posted weekly losses. Cryptocurrencies have seen a total liquidation of US$24.91 million in the past 24 hours.\nThat’s a considerable decrease on the daily losses posted last week during a calamitous downturn in the crypto market. On Friday alone, traders liquidated over US$1 billion in cryptocurrencies, including US$851.94 million in long positions — positions where investors bet the cryptocurrency price will rise. On Monday, long position liquidations stood at\xa0US$6.89 million for the past 24 hours, according to data from crypto information platformCoinGlass.\nRipple’s XRP token led the winners, gaining 3.96% to US$0.5408 but plunged 13.76% for the week.\nIn the on-going legal battle between Ripple Labs and the SEC, Judge Analisa Torres on Thursdaygrantedthe SEC permission to appeal an earlier judgement in favor of Ripple Labs. That ruling in late June found that the technology firm’s programmatic sales of XRP did not violate securities laws.\nIn a Saturday tweet, Ripple’s Chief Technology Officer David Schwartz said the SEC should not be allowed to appeal until the conclusion of the case. He said that, even if an appeal is granted, “the case should still continue and the appeal should run in parallel.”\nRipple will have until September 1 to respond to the SEC’s appeal motion.\nThe total crypto market capitalization edged up 0.45% in the past 24 hours to US$1.06 trillion, while trading volume fell 13.09% to US$21.67 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdropped 1.08% in the past 24 hours to 2,327.91 as of 10:20 a.m. in Hong Kong, and fell 5.94% for the week. Forkast’s Ethereum Polygon and Cardano NFT indexes also logged losses, while the index for Solana moved higher.\n“The catalyst for this (NFT index drop) was OpenSea’s decision to get rid of royalties,”saidYehudah Petscher, NFT strategist at Forkast Labs, in a YouTube video uploaded Sunday.\nOpenSea, one of the world’s largest NFT marketplaces,announcedon Thursday it would stop enforcing creator royalty fees, making them optional. The change will take effect from August 31. The platform will continue to charge a 2.5% fee for every transaction.\n“(The mandatory royalty fee on OpenSea) was meant to empower creators with greater control over their Web3 business models, but it required the buy-in of everyone in the Web3 ecosystem, and unfortunately that has not happened,” wrote OpenSea in the announcement.\nOpenSea’s move received criticism from commentators. In a tweet Friday, Mark Cuban, owner of the Dallas Mavericks basketball team and an investor in OpenSea, described the decision as a “huge mistake” that would hurt the industry.\nYuga Labs, the creator of NFT collection Bored Ape Yacht Club (BAYC), responded to the news in a tweet Saturday saying it will gradually wind down its support for OpenSea. “Yuga believes in protecting creator royalties so creators are properly compensated for their work,” the company said.\n“What I think will happen is they either reverse their decision, or Yuga Labs may end up launching their own NFT marketplace,” said Forkast Labs’ Petscher on Sunday. While the impact of the decision is only just being felt, he added, it will “change the landscape of NFTs.”\nTotal NFT trading volume gained 15.60% in the past 24 hours to US$14.76 million, according to data fromCryptoSlam. Volumes on the Ethereum, Bitcoin, Solana and Polygon blockchains all logged increases, while Cardano’s volume dipped.\nAmong NFT collections, Ethereum-based BAYC saw the largest 24-hour sales volume, which rose 45.30% to US$2.02 million. Mythos Chain-based DMarket and Polygon-based DraftKings ranked as the second and third largest collections by 24-hour trading volume.\nIn terms of single NFT sales,BAYC #8585soldat over US$255,000 on Sunday, making it the most expensive NFT traded in the past 24 hours. However, its former holder purchased the NFT at over US$1 million in October 2022.\n“This seller took a huge loss on this NFT,” said Petscher. “That explains the rising average sale price but also the declining profits.”\nU.S. stock futures edged higher as of 11:20 a.m. in Hong Kong, after the three major U.S. indexes closed mixed on Friday and booked losses for the week.\nIn Asia, the main stock indexes traded mixed on Friday morning. China’s Shanghai Composite Index and Hong Kong’s Hang Seng logged losses, while South Korea’s Kospi and Japan’s Nikkei moved up.\nIn the U.S., investors await Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. The Fed’s annual summit is attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s thinking on monetary policy.\n“We view the event as a good opportunity for Powell to start laying the ground for the next step in the Fed’s policy guidance: no longer focused on how many hikes to expect, but rather on rates remaining ‘higher for longer,'” analysts at Canadian investment bank TD Securities said in a note viewed byReuters.\nIn July, the Fed raised the interest rate to between 5.25% and 5.50% — the highest level since January 2001. Powellsaidin a statement following the decision that the U.S. central bank will “take a data-dependent approach” in determining its future monetary policies. It did not indicate if there are more hikes in the cards or how long the Fed would keep up its tightening cycle.\nThe Fed meets on Sep. 19 to make its next move on interest rates. Analysts at theCME FedWatch Toolpredict a 11.5% chance for another 25-basis-point increase.\nU.S. data to watch in the week ahead includes U.S. chipmaker Nvidia’s second-quarter earnings report, as well as S&P Global’s purchasing manager indexes (PMI). Both are set for release Wednesday.\nMeanwhile in China, the country’s central bankcutits one-year loan prime rate (LPR) to 3.45% from 3.55% on Monday morning. However, it kept the five-year LPR unchanged at 4.2%, according to the state media Xinhua News Agency.\nThe stimulus measure wassmallerthan the analyst expectation of two 15-basis-point cuts to both the one-year and five-year rates. Commentators said China’s central bank may need to act more decisively to soothe growing fears of a recession.\n“Until more forceful policy responses are made available to backstop the contagion risk, we believe Chinese stocks will settle in a lower trading range than we previously envisaged,” Goldman equity strategists wrote in a note viewed by Bloomberg.\n(Updates with equities section.)", "Bitcoin edged up on Monday morning in Asia to trade slightly above the US$26,000 support level, after sliding over 10% for the week. Ether also moved higher but remained below US$1,700 following last week’s losses. Other top 10 non-stablecoin cryptocurrencies traded mixed. XRP led the winners, despite the U.S. Securities and Exchange Commission (SEC) moving to challenge a June court ruling in favor of Ripple Labs. Meanwhile, the Forkast 500 NFT index dropped as NFT marketplace OpenSea said it will stop enforcing creator royalties from August 31. U.S. stock futures traded flat after Wall Street logged weekly losses at close of trading Friday.\nBitcoin edged up 0.28% in the last 24 hours to US$26,178.36 as of 07:30 a.m. in Hong Kong, logging a weekly loss of 10.68%, according toCoinMarketCapdata. The world’s leading cryptocurrency hit a two-month low of US$25,409.11 on Friday, but held position above the US$26,000 support level over the weekend.\nA cool-off of Bitcoin exchange-traded fund (ETF) hype in the U.S. could be behind the retreat of the token. That’s the view of James Butterfill, head of research at European alternative asset manager CoinShares.\n“The surge in June, spurred by BlackRock’s application for SEC approval of a Bitcoin ETF, led to a noticeable spike in prices,” said Butterfill in areportreleased Friday.\n“However, markets are now coming to terms with the realization that an immediate SEC approval for a Bitcoin ETF in the U.S. is unlikely. It’s noteworthy that current Bitcoin prices have stabilized around levels observed before this announcement,” he added.\nThe low volume and volatility in Bitcoin, a rise in U.S. treasury yields, as well as concerns over China’s ailing economy contributed to Bitcoin’s sharp weekly decline, the CoinShares report found.\n“The outlook for the markets in the forthcoming months presents a blend of opportunities and challenges. It’s anticipated that the U.S. Federal Reserve will refrain from hiking rates further in September,” Butterfill said.\nA dovish shift in Fed policy could provide a boost to Bitcoin’s prospects, he added.\n“On the flip side, investors are eagerly awaiting the SEC’s verdict on the Grayscale ETF and BlackRock applications in September. Anticipations are that decisions on both applications might be postponed, potentially leading to investor disappointment,” Butterfly said.\nAlong with Bitcoin, Ether moved up 0.85% to US$1,683.57 but remained 8.50% lower for the past seven days.\nThe U.S. SEC could approve several ETFs based on Ethereum futures by October 2023, Bloombergreportedon Friday citing unnamed sources. Investment firms Volatility Shares, Bitwise, Roundhill and ProShares have all applied for Ethereum ETF licenses.\nOther top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours, but all posted weekly losses. Cryptocurrencies have seen a total liquidation of US$24.91 million in the past 24 hours.\nThat’s a considerable decrease on the daily losses posted last week during a calamitous downturn in the crypto market. On Friday alone, traders liquidated over US$1 billion in cryptocurrencies, including US$851.94 million in long positions — positions where investors bet the cryptocurrency price will rise. On Monday, long position liquidations stood at\xa0US$6.89 million for the past 24 hours, according to data from crypto information platformCoinGlass.\nRipple’s XRP token led the winners, gaining 3.96% to US$0.5408 but plunged 13.76% for the week.\nIn the on-going legal battle between Ripple Labs and the SEC, Judge Analisa Torres on Thursdaygrantedthe SEC permission to appeal an earlier judgement in favor of Ripple Labs. That ruling in late June found that the technology firm’s programmatic sales of XRP did not violate securities laws.\nIn a Saturday tweet, Ripple’s Chief Technology Officer David Schwartz said the SEC should not be allowed to appeal until the conclusion of the case. He said that, even if an appeal is granted, “the case should still continue and the appeal should run in parallel.”\nRipple will have until September 1 to respond to the SEC’s appeal motion.\nThe total crypto market capitalization edged up 0.45% in the past 24 hours to US$1.06 trillion, while trading volume fell 13.09% to US$21.67 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdropped 1.08% in the past 24 hours to 2,327.91 as of 10:20 a.m. in Hong Kong, and fell 5.94% for the week. Forkast’s Ethereum Polygon and Cardano NFT indexes also logged losses, while the index for Solana moved higher.\n“The catalyst for this (NFT index drop) was OpenSea’s decision to get rid of royalties,”saidYehudah Petscher, NFT strategist at Forkast Labs, in a YouTube video uploaded Sunday.\nOpenSea, one of the world’s largest NFT marketplaces,announcedon Thursday it would stop enforcing creator royalty fees, making them optional. The change will take effect from August 31. The platform will continue to charge a 2.5% fee for every transaction.\n“(The mandatory royalty fee on OpenSea) was meant to empower creators with greater control over their Web3 business models, but it required the buy-in of everyone in the Web3 ecosystem, and unfortunately that has not happened,” wrote OpenSea in the announcement.\nOpenSea’s move received criticism from commentators. In a tweet Friday, Mark Cuban, owner of the Dallas Mavericks basketball team and an investor in OpenSea, described the decision as a “huge mistake” that would hurt the industry.\nYuga Labs, the creator of NFT collection Bored Ape Yacht Club (BAYC), responded to the news in a tweet Saturday saying it will gradually wind down its support for OpenSea. “Yuga believes in protecting creator royalties so creators are properly compensated for their work,” the company said.\n“What I think will happen is they either reverse their decision, or Yuga Labs may end up launching their own NFT marketplace,” said Forkast Labs’ Petscher on Sunday. While the impact of the decision is only just being felt, he added, it will “change the landscape of NFTs.”\nTotal NFT trading volume gained 15.60% in the past 24 hours to US$14.76 million, according to data fromCryptoSlam. Volumes on the Ethereum, Bitcoin, Solana and Polygon blockchains all logged increases, while Cardano’s volume dipped.\nAmong NFT collections, Ethereum-based BAYC saw the largest 24-hour sales volume, which rose 45.30% to US$2.02 million. Mythos Chain-based DMarket and Polygon-based DraftKings ranked as the second and third largest collections by 24-hour trading volume.\nIn terms of single NFT sales,BAYC #8585soldat over US$255,000 on Sunday, making it the most expensive NFT traded in the past 24 hours. However, its former holder purchased the NFT at over US$1 million in October 2022.\n“This seller took a huge loss on this NFT,” said Petscher. “That explains the rising average sale price but also the declining profits.”\nU.S. stock futures edged higher as of 11:20 a.m. in Hong Kong, after the three major U.S. indexes closed mixed on Friday and booked losses for the week.\nIn Asia, the main stock indexes traded mixed on Friday morning. China’s Shanghai Composite Index and Hong Kong’s Hang Seng logged losses, while South Korea’s Kospi and Japan’s Nikkei moved up.\nIn the U.S., investors await Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. The Fed’s annual summit is attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s thinking on monetary policy.\n“We view the event as a good opportunity for Powell to start laying the ground for the next step in the Fed’s policy guidance: no longer focused on how many hikes to expect, but rather on rates remaining ‘higher for longer,'” analysts at Canadian investment bank TD Securities said in a note viewed byReuters.\nIn July, the Fed raised the interest rate to between 5.25% and 5.50% — the highest level since January 2001. Powellsaidin a statement following the decision that the U.S. central bank will “take a data-dependent approach” in determining its future monetary policies. It did not indicate if there are more hikes in the cards or how long the Fed would keep up its tightening cycle.\nThe Fed meets on Sep. 19 to make its next move on interest rates. Analysts at theCME FedWatch Toolpredict a 11.5% chance for another 25-basis-point increase.\nU.S. data to watch in the week ahead includes U.S. chipmaker Nvidia’s second-quarter earnings report, as well as S&P Global’s purchasing manager indexes (PMI). Both are set for release Wednesday.\nMeanwhile in China, the country’s central bankcutits one-year loan prime rate (LPR) to 3.45% from 3.55% on Monday morning. However, it kept the five-year LPR unchanged at 4.2%, according to the state media Xinhua News Agency.\nThe stimulus measure wassmallerthan the analyst expectation of two 15-basis-point cuts to both the one-year and five-year rates. Commentators said China’s central bank may need to act more decisively to soothe growing fears of a recession.\n“Until more forceful policy responses are made available to backstop the contagion risk, we believe Chinese stocks will settle in a lower trading range than we previously envisaged,” Goldman equity strategists wrote in a note viewed by Bloomberg.\n(Updates with equities section.)", 'Bitcoin edged up on Monday morning in Asia to trade slightly above the US$26,000 support level, after sliding over 10% for the week. Ether also moved higher but remained below US$1,700 following last week’s losses. Other top 10 non-stablecoin cryptocurrencies traded mixed. XRP led the winners, despite the U.S. Securities and Exchange Commission (SEC) moving to challenge a June court ruling in favor of Ripple Labs. Meanwhile, the Forkast 500 NFT index dropped as NFT marketplace OpenSea said it will stop enforcing creator royalties from August 31. U.S. stock futures traded flat after Wall Street logged weekly losses at close of trading Friday. Baby steps upward for cryptos after painful few days Bitcoin edged up 0.28% in the last 24 hours to US$26,178.36 as of 07:30 a.m. in Hong Kong, logging a weekly loss of 10.68%, according to CoinMarketCap data. The world’s leading cryptocurrency hit a two-month low of US$25,409.11 on Friday, but held position above the US$26,000 support level over the weekend. A cool-off of Bitcoin exchange-traded fund (ETF) hype in the U.S. could be behind the retreat of the token. That’s the view of James Butterfill, head of research at European alternative asset manager CoinShares. “The surge in June, spurred by BlackRock’s application for SEC approval of a Bitcoin ETF, led to a noticeable spike in prices,” said Butterfill in a report released Friday. “However, markets are now coming to terms with the realization that an immediate SEC approval for a Bitcoin ETF in the U.S. is unlikely. It’s noteworthy that current Bitcoin prices have stabilized around levels observed before this announcement,” he added. The low volume and volatility in Bitcoin, a rise in U.S. treasury yields, as well as concerns over China’s ailing economy contributed to Bitcoin’s sharp weekly decline, the CoinShares report found. “The outlook for the markets in the forthcoming months presents a blend of opportunities and challenges. It’s anticipated that the U.S. Federal Reserve will refrain from hiking rates further in September,” Butterfill said. A dovish shift in Fed policy could provide a boost to Bitcoin’s prospects, he added. “On the flip side, investors are eagerly awaiting the SEC’s verdict on the Grayscale ETF and BlackRock applications in September. Anticipations are that decisions on both applications might be postponed, potentially leading to investor disappointment,” Butterfly said. Along with Bitcoin, Ether moved up 0.85% to US$1,683.57 but remained 8.50% lower for the past seven days. The U.S. SEC could approve several ETFs based on Ethereum futures by October 2023, Bloomberg reported on Friday citing unnamed sources. Investment firms Volatility Shares, Bitwise, Roundhill and ProShares have all applied for Ethereum ETF licenses. Story continues Other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours, but all posted weekly losses. Cryptocurrencies have seen a total liquidation of US$24.91 million in the past 24 hours. That’s a considerable decrease on the daily losses posted last week during a calamitous downturn in the crypto market. On Friday alone, traders liquidated over US$1 billion in cryptocurrencies, including US$851.94 million in long positions — positions where investors bet the cryptocurrency price will rise. On Monday, long position liquidations stood at\xa0US$6.89 million for the past 24 hours, according to data from crypto information platform CoinGlass . Ripple’s XRP token led the winners, gaining 3.96% to US$0.5408 but plunged 13.76% for the week. In the on-going legal battle between Ripple Labs and the SEC, Judge Analisa Torres on Thursday granted the SEC permission to appeal an earlier judgement in favor of Ripple Labs. That ruling in late June found that the technology firm’s programmatic sales of XRP did not violate securities laws. In a Saturday tweet, Ripple’s Chief Technology Officer David Schwartz said the SEC should not be allowed to appeal until the conclusion of the case. He said that, even if an appeal is granted, “the case should still continue and the appeal should run in parallel.” Yes. A party that loses on any claim or issue in their suit is entitled to appeal any adverse rulings at the conclusion of the suit. The SEC is asking for permission to appeal here because the suit is not complete yet for any party. You can see why there would be a rule like… — David "JoelKatz" Schwartz (@JoelKatz) August 18, 2023 Ripple will have until September 1 to respond to the SEC’s appeal motion. The total crypto market capitalization edged up 0.45% in the past 24 hours to US$1.06 trillion, while trading volume fell 13.09% to US$21.67 billion. OpenSea NFT marketplace to stop enforcing creator royalties The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index dropped 1.08% in the past 24 hours to 2,327.91 as of 10:20 a.m. in Hong Kong, and fell 5.94% for the week. Forkast’s Ethereum Polygon and Cardano NFT indexes also logged losses, while the index for Solana moved higher. “The catalyst for this (NFT index drop) was OpenSea’s decision to get rid of royalties,” said Yehudah Petscher, NFT strategist at Forkast Labs, in a YouTube video uploaded Sunday. OpenSea, one of the world’s largest NFT marketplaces, announced on Thursday it would stop enforcing creator royalty fees, making them optional. The change will take effect from August 31. The platform will continue to charge a 2.5% fee for every transaction. “(The mandatory royalty fee on OpenSea) was meant to empower creators with greater control over their Web3 business models, but it required the buy-in of everyone in the Web3 ecosystem, and unfortunately that has not happened,” wrote OpenSea in the announcement. OpenSea’s move received criticism from commentators. In a tweet Friday, Mark Cuban, owner of the Dallas Mavericks basketball team and an investor in OpenSea, described the decision as a “huge mistake” that would hurt the industry. Not collecting and paying royalties on NFT sales is a HUGE mistake by @opensea . It diminished trust in the platform and hurts the industry. And I say this as an @opensea investor @DevinFinzer — Mark Cuban (@mcuban) August 18, 2023 Yuga Labs, the creator of NFT collection Bored Ape Yacht Club (BAYC), responded to the news in a tweet Saturday saying it will gradually wind down its support for OpenSea. “Yuga believes in protecting creator royalties so creators are properly compensated for their work,” the company said. On @opensea \'s decision to sunset their Operator Filter. pic.twitter.com/ahc155WWkX — Yuga Labs (@yugalabs) August 18, 2023 “What I think will happen is they either reverse their decision, or Yuga Labs may end up launching their own NFT marketplace,” said Forkast Labs’ Petscher on Sunday. While the impact of the decision is only just being felt, he added, it will “change the landscape of NFTs.” Total NFT trading volume gained 15.60% in the past 24 hours to US$14.76 million, according to data from CryptoSlam . Volumes on the Ethereum, Bitcoin, Solana and Polygon blockchains all logged increases, while Cardano’s volume dipped. Among NFT collections, Ethereum-based BAYC saw the largest 24-hour sales volume, which rose 45.30% to US$2.02 million. Mythos Chain-based DMarket and Polygon-based DraftKings ranked as the second and third largest collections by 24-hour trading volume. In terms of single NFT sales, BAYC #8585 sold at over US$255,000 on Sunday, making it the most expensive NFT traded in the past 24 hours. However, its former holder purchased the NFT at over US$1 million in October 2022. “This seller took a huge loss on this NFT,” said Petscher. “That explains the rising average sale price but also the declining profits.” China policy stimulus lacks punch Image: Getty Images U.S. stock futures edged higher as of 11:20 a.m. in Hong Kong, after the three major U.S. indexes closed mixed on Friday and booked losses for the week. In Asia, the main stock indexes traded mixed on Friday morning. China’s Shanghai Composite Index and Hong Kong’s Hang Seng logged losses, while South Korea’s Kospi and Japan’s Nikkei moved up. In the U.S., investors await Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. The Fed’s annual summit is attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s thinking on monetary policy. “We view the event as a good opportunity for Powell to start laying the ground for the next step in the Fed’s policy guidance: no longer focused on how many hikes to expect, but rather on rates remaining ‘higher for longer,\'” analysts at Canadian investment bank TD Securities said in a note viewed by Reuters . In July, the Fed raised the interest rate to between 5.25% and 5.50% — the highest level since January 2001. Powell said in a statement following the decision that the U.S. central bank will “take a data-dependent approach” in determining its future monetary policies. It did not indicate if there are more hikes in the cards or how long the Fed would keep up its tightening cycle. The Fed meets on Sep. 19 to make its next move on interest rates. Analysts at the CME FedWatch Tool predict a 11.5% chance for another 25-basis-point increase. U.S. data to watch in the week ahead includes U.S. chipmaker Nvidia’s second-quarter earnings report, as well as S&P Global’s purchasing manager indexes (PMI). Both are set for release Wednesday. Meanwhile in China, the country’s central bank cut its one-year loan prime rate (LPR) to 3.45% from 3.55% on Monday morning. However, it kept the five-year LPR unchanged at 4.2%, according to the state media Xinhua News Agency. The stimulus measure was smaller than the analyst expectation of two 15-basis-point cuts to both the one-year and five-year rates. Commentators said China’s central bank may need to act more decisively to soothe growing fears of a recession. “Until more forceful policy responses are made available to backstop the contagion risk, we believe Chinese stocks will settle in a lower trading range than we previously envisaged,” Goldman equity strategists wrote in a note viewed by Bloomberg. (Updates with equities section.) View comments', '* China cuts 1-yr LPR by 10 bps vs 15 bp expectation * Dollar/yuan up beyond 7.3; Aussie and kiwi vulnerable * Yen on intervention watch, steady at 145.37 By Tom Westbrook SINGAPORE, Aug 21 (Reuters) - The dollar was firm through Asia trade on Monday, following five straight weeks of gains, as investors looked ahead to the Federal Reserve\'s Jackson Hole symposium for guidance on where rates might settle when the dust of this hiking cycle clears. The U.S. dollar made a gain of 0.7% on the euro last week, inched ahead on the yen and surged by more than 1% on the Antipodean currencies as U.S. Treasury yields leapt in anticipation of interest rates staying higher for longer. In Asia, the Australian dollar, at $0.6406, and the New Zealand dollar, at $0.5919, were pinned uncomfortably close to last week\'s nine-month lows after China\'s rate cut disappointed markets worried about a stalling economy. China cut its one-year benchmark lending rate by 10 basis points and left its five-year rate unchanged, against economists\' expectations for 15 bp cuts to both. The yuan slid to the weak side of 7.3 per dollar despite a firm fixing of its trading range by the central bank. It last traded at 7.3070, though it has so far kept off last week\'s lows beyond 7.31 that had brought state banks into spot markets in London and New York hours as buyers. The Antipodean currencies often function as a liquid proxy for the yuan, owing to the region\'s exports to China, and are doubly vulnerable as the rate outlook drives up the greenback. "The Australian dollar will continue to underperform this week in our view," strategists at the Commonwealth Bank of Australia said in a note to clients. "We consider there is a growing risk that the Aussie dips below $0.60 before year-end. It will likely take a big Chinese stimulus package focused on commodity-intensive infrastructure spending to turn around the downtrend." Like the yuan, the yen is also on intervention watch, having fallen to levels around which authorities stepped in last year. It was steady at 145.37 a dollar in Asia. The euro held at $1.0880. Sterling hovered at $1.2739. The Swiss franc was just above a six-week low hit last week at 0.8820 per dollar. Apart from waiting in vain for news of stimulus in China, the upcoming Jackson Hole symposium - where Fed chair Jerome Powell is set to speak on Friday - is markets\' major focus and may set the direction for U.S. yields. Ten-year yields rose 14 basis points for the week and touched a 10-month high of 4.328%, within a whisker of a 15-year high. Thirty-year yields rose nearly 11 bps to their highest in more than a decade. The theme this year for the annual gathering in Wyoming is "structural shifts in the global economy". "Two things that may come across are: decades of ultra-low rates backed by ultra-low inflation may be over," said Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore. "And global policy-makers may prefer to maintain restrictive real rates for a while, thereby keeping risks from volatile inflation alive." Bitcoin, which was battered to a two-month low last week as rising U.S. yields and China\'s slowing economy drove a wave of selling, nursed those losses at $26,054. ======================================================== Currency bid prices at 0443 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0880 $1.0873 +0.07% +1.54% +1.0884 +1.0871 Dollar/Yen 145.3850 145.3300 +0.05% +10.79% +145.6150 +145.2550 Euro/Yen 158.19 158.03 +0.10% +12.75% +158.3800 +157.8000 Dollar/Swiss 0.8821 0.8828 -0.07% -4.59% +0.8827 +0.8814 Sterling/Dollar 1.2737 1.2736 +0.03% +5.34% +1.2750 +1.2733 Dollar/Canadian 1.3543 1.3551 -0.08% -0.07% +1.3555 +1.3537 Aussie/Dollar 0.6404 0.6405 +0.02% -6.02% +0.6418 +0.6395 NZ Dollar/Dollar 0.5918 0.5924 -0.08% -6.77% +0.5936 +0.5908 All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Tom Westbrook; Editing by Miral Fahmy and Clarence Fernandez)', '* China cuts 1-yr LPR by 10 bps vs 15 bp expectation * Dollar/yuan up beyond 7.3; Aussie and kiwi vulnerable * Yen on intervention watch, steady at 145.37 By Tom Westbrook SINGAPORE, Aug 21 (Reuters) - The dollar was firm through Asia trade on Monday, following five straight weeks of gains, as investors looked ahead to the Federal Reserve\'s Jackson Hole symposium for guidance on where rates might settle when the dust of this hiking cycle clears. The U.S. dollar made a gain of 0.7% on the euro last week, inched ahead on the yen and surged by more than 1% on the Antipodean currencies as U.S. Treasury yields leapt in anticipation of interest rates staying higher for longer. In Asia, the Australian dollar, at $0.6406, and the New Zealand dollar, at $0.5919, were pinned uncomfortably close to last week\'s nine-month lows after China\'s rate cut disappointed markets worried about a stalling economy. China cut its one-year benchmark lending rate by 10 basis points and left its five-year rate unchanged, against economists\' expectations for 15 bp cuts to both. The yuan slid to the weak side of 7.3 per dollar despite a firm fixing of its trading range by the central bank. It last traded at 7.3070, though it has so far kept off last week\'s lows beyond 7.31 that had brought state banks into spot markets in London and New York hours as buyers. The Antipodean currencies often function as a liquid proxy for the yuan, owing to the region\'s exports to China, and are doubly vulnerable as the rate outlook drives up the greenback. "The Australian dollar will continue to underperform this week in our view," strategists at the Commonwealth Bank of Australia said in a note to clients. "We consider there is a growing risk that the Aussie dips below $0.60 before year-end. It will likely take a big Chinese stimulus package focused on commodity-intensive infrastructure spending to turn around the downtrend." Like the yuan, the yen is also on intervention watch, having fallen to levels around which authorities stepped in last year. It was steady at 145.37 a dollar in Asia. The euro held at $1.0880. Sterling hovered at $1.2739. The Swiss franc was just above a six-week low hit last week at 0.8820 per dollar. Apart from waiting in vain for news of stimulus in China, the upcoming Jackson Hole symposium - where Fed chair Jerome Powell is set to speak on Friday - is markets\' major focus and may set the direction for U.S. yields. Ten-year yields rose 14 basis points for the week and touched a 10-month high of 4.328%, within a whisker of a 15-year high. Thirty-year yields rose nearly 11 bps to their highest in more than a decade. The theme this year for the annual gathering in Wyoming is "structural shifts in the global economy". "Two things that may come across are: decades of ultra-low rates backed by ultra-low inflation may be over," said Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore. "And global policy-makers may prefer to maintain restrictive real rates for a while, thereby keeping risks from volatile inflation alive." Bitcoin, which was battered to a two-month low last week as rising U.S. yields and China\'s slowing economy drove a wave of selling, nursed those losses at $26,054. ======================================================== Currency bid prices at 0443 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0880 $1.0873 +0.07% +1.54% +1.0884 +1.0871 Dollar/Yen 145.3850 145.3300 +0.05% +10.79% +145.6150 +145.2550 Euro/Yen 158.19 158.03 +0.10% +12.75% +158.3800 +157.8000 Dollar/Swiss 0.8821 0.8828 -0.07% -4.59% +0.8827 +0.8814 Sterling/Dollar 1.2737 1.2736 +0.03% +5.34% +1.2750 +1.2733 Dollar/Canadian 1.3543 1.3551 -0.08% -0.07% +1.3555 +1.3537 Aussie/Dollar 0.6404 0.6405 +0.02% -6.02% +0.6418 +0.6395 NZ Dollar/Dollar 0.5918 0.5924 -0.08% -6.77% +0.5936 +0.5908 All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Tom Westbrook; Editing by Miral Fahmy and Clarence Fernandez)', 'Average asking prices for UK houses listed by new sellers fell by £7,012 to £364,895 this month, or about 1.9%, according to fresh data from online real estate portal Rightmove. Photo: Christopher Furlong/Getty Images (Christopher Furlong via Getty Images) Average asking prices for UK homes listed by new sellers fell by £7,012 to £364,895 this month, or about 1.9%, according to fresh data from online real estate portal Rightmove ( RMV.L ). This was coupled with a falling number of agreed sales, which were 15% lower than levels seen in 2019. Meanwhile, the data showed that rents continue to creep up, meaning it is becoming more attractive for first-time buyers to enter the market. The number of first-time buyers was above the average — sitting at 10% lower than levels seen in 2019. In the typical first-time buyer sector of two-bedroom and fewer properties, average advertised rents are up by 12% compared to last year and by 33% compared with the same time in 2019. Data from the Office for National Statistic echoed Rightmove\'s findings. It revealed earlier this week that in the 12 months to June house prices in London fell 0.6%, while rents in the capital were up 5.5%. Annual private rental prices increased by 5.2% in England, 6.5% in Wales, and 5.7% in Scotland in the 12 months to July, it said. Read more: Trending tickers: Prudential | Bitcoin | CVS "A key factor preventing more significant price falls so far this year is that the number of available properties for sale remains historically constrained and is currently 10% lower than in 2019," said Tim Bannister, Rightmove’s director of property science for sellers. "Rightmove’s latest data backs up reports from agents that pricing right in the current market is key to attracting a buyer." Although it seems to be slightly more affordable to both buy a house and take out a mortgage, with average rates dipping from 6.08% to 5.81%, it\'s important to note that prices are still £59,000 (19%) higher than in the pre-pandemic market of August 2019, the data shows. Watch: UK house prices fall at fastest annual rate in 14 years', 'Average asking prices for UK homes listed by new sellers fell by £7,012 to £364,895 this month, or about 1.9%, according to fresh data from online real estate portal Rightmove (RMV.L).\nThis was coupled with a falling number of agreed sales, which were 15% lower than levels seen in 2019.\nMeanwhile, the data showed that rents continue to creep up, meaning it is becoming more attractive for first-time buyers to enter the market. The number of first-time buyers was above the average — sitting at 10% lower than levels seen in 2019.\nIn the typical first-time buyer sector of two-bedroom and fewer properties, average advertised rents are up by 12% compared to last year and by 33% compared with the same time in 2019.\nData from the Office for National Statistic echoed Rightmove\'s findings. It revealed earlier this week that in the 12 months to June house prices in London fell 0.6%, while rents in the capital were up 5.5%.\nAnnual private rental prices increased by 5.2% in England, 6.5% in Wales, and 5.7% in Scotland in the 12 months to July, it said.\nRead more:Trending tickers: Prudential | Bitcoin | CVS\n"A key factor preventing more significant price falls so far this year is that the number of available properties for sale remains historically constrained and is currently 10% lower than in 2019," said Tim Bannister, Rightmove’s director of property science for sellers.\n"Rightmove’s latest data backs up reports from agents that pricing right in the current market is key to attracting a buyer."\nAlthough it seems to be slightly more affordable to both buy a house and take out a mortgage, with average rates dipping from 6.08% to 5.81%, it\'s important to note that prices are still £59,000 (19%) higher than in the pre-pandemic market of August 2019, the data shows.\nWatch: UK house prices fall at fastest annual rate in 14 years', 'The FTSE 100 index narrowly avoided its lowest close of the year after a grim week for global stock markets.\nLondon’s top flight fell again by 0.7% today, leaving it down by 3.5% since Monday as worries mount globally over higher-for-longer interest rates. It has lost 350 points over the course of a six-day losing streak.\nFor much of the day, the index appeared set for the lowest close since November 2023, but it rallied slightly in the last hour of trading.\nRising borrowing costs have added to pressure on the retail sector, resulting intoday’s 1.2% fall in sales during washout July.\n• Blue-chip index on course to close at 2023 low\n• Retail sales fall sharply in July\n• Great Po
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-21
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $507,868,117,994
- Hash Rate: 429722639.5074582
- Transaction Count: 550074.0
- Unique Addresses: 739287.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.38
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Some stocks have skyrocketed year to date. Indeed, shares of some technology companies more than doubled over the last six months. This rally has been fueled by improving investor sentiment and excitement about artificial intelligence. Thesehypergrowth stocksappear to be carrying their momentum into the year’s second half, continuing to rally to new heights.
Now, sometech stockshave achieved astronomical valuations simply due to portfolio rebalancing. While some analysts continue topredict a market downturn, there doesn’t appear to be any pullback in a number of hypergrowth stocks that keep outperforming the broader market by a wide margin. We asked artificial intelligence for its hypergrowth stock picks, and this is what it came up with.
Here are seven hypergrowth stocks that AI is loving in July.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Source: Ken Wolter / Shutterstock.com
It might not be for everybody, but one hypergrowth stock that AI is loving in July isCarvana(NYSE:CVNA).
Through six months of the year, CVNA stock has gained 740%. In January, the share price traded at less than $5 apiece. Today, it is near $40. Notably, the meteoric rise of the online used car retailer is widely attributed toa short squeeze. With more than 60% of Carvana’s stock sold short (meaning traders are betting it will go down), retail investors saw this potential short-squeeze target as one to buy.
Apparently, AI didn’t take the effects of a short squeeze into account when recommending CVNA stock. The huge gains in Carvana’s share price this year make little sense. This is especially true when one considers that prices for used vehicles have been spiraling downward. The latest data showed that used car prices in the U.S. fell 4.2% in June from May of this year. Declining prices for used cars is one of the biggest factors inpushing the inflation rate downin America. But try telling that to the “apes” on r/WallStreetBets.
Source: Yev_1234 / Shutterstock
Marathon Digital Holdings(NASDAQ:MARA) is a leading cryptocurrency miner, and itsstock has been surgingthis year. So far in 2023, MARA stock is up nearly 400%. This move has been driven higher by the huge rebound in crypto asset prices, notablyBitcoin(BTC-USD), which has rallied 83% year to date and is trading above $30,000 at the time of writing. Other cryptocurrencies such asEthereum(ETH-USD) are also on the upswing, driving demand and momentum for MARA stock.
In May, Marathon Digital reported that itsBitcoin production surged 74%year-over-year in Q1. It also said its cash holdings rose by $12 million, and the company managed to lower its net debt by $50 million.
Certainly, this is all music to the ears of analysts and investors. Marathon Digital also increased its Bitcoin holdings by 3,132 BTC, and said it plans to further expand its Bitcoin mining operations as crypto prices remain buoyant heading into this year’s second half. Other crypto mining stocks have also risen sharply this year, but MARA stock gets the nod from AI.
Source: Shutterstock
Perhaps a bit ironically, one of the stock recommendations on this list is pure-play artificial intelligence companyC3.ai(NYSE:AI). In many respects, this recommendation makes sense, given the extreme hypergrowth seen in this stock year to date. Since January,AI stock has increased 264%, trouncing the performance of nearly every other security available. Retail investors, in particular, seem to love C3.ai, piling into the stock as they search for any investments related to the artificial intelligence theme.
No mention was made of the fact that C3.ai is a comparatively small company and stock. The companygenerated only $72.4 million of revenuein its most recent quarter, and holds a market capitalization of $4.65 billion. Additionally, the growing short interest in C3.ai should be considered. Currently, more than a quarter of AI stock is sold short by professional traders, meaning they are betting that the share price will decline in coming months.
Still, for now, momentum seems to be on the side of C3.ai, and it continues to be a hypergrowth stock AI thinks is worth buying.
Source: Below the Sky / Shutterstock.com
Microchip and semiconductor companyNvidia(NASDAQ:NVDA) was thebest-performing stockin theS&P 500benchmark during the first half of 2023. NVDA stock gained 190% between January and the end of June, far outpacing the index’s 16% first half gain. Indeed, NVDA stock continues to be in hypergrowth mode and is now up 206% on the year. Like C3.ai, Nvidia’s bull run can largely be attributed to the role its chips and semiconductors play in artificial intelligence applications.
Seen as a key player in the AI arms race, NVDA stock is now up more than 600% over the last five years. The current rally has pushed the stock toa market capitalization above $1 trillion, officially making Nvidia a mega-cap technology concern. Despite the big run this year, Nvidia’s share price is seen as having more runway ahead. The company is certainly doing all it can to capitalize on the hype surrounding AI, recently unveiling a new supercomputer called DGX GH200 that will help companies create chatbots more powerful than ChatGPT.
Source: sdx15 / Shutterstock.com
Electric vehicle makerTesla(NASDAQ:TSLA) is another AI recommended hypergrowth stock, having risen 152% so far this year. Momentum in the stock has only grown since Tesla announced better-than-expected second quarterproduction and delivery numbers. The closest approximation to sales the company has, Tesla reported 466,140 vehicle deliveries in Q2, crushing Wall Street forecasts. The rise in deliveries coincided with incentives and discounts offered to buyers in the first half of the year, as well as a $7,500 U.S. federal tax credit.
Tesla’s stock has also come roaring back since company CEO Elon Musk shifted his focus back to the EV maker and away from Twitter, the social media company he bought last fall for $44 billion. There had been concerns among analysts that Tesla faced competitive threats from larger, more established automakers. However, those worries seem to have been calmed by news that players such asFord Motor Co.(NYSE:F) will pay Tesla foraccess its charging network, further cementing the company’s lead in the EV market.
Source: sylv1rob1 / Shutterstock.com
Maybe it’s becauseApple’s(NASDAQ:AAPL) share price has rallied 52% this year. Or maybe it’s because the company recently became the first publicly traded company to achievea $3 trillion market capitalization. Whatever the reason, consumer electronics giant Apple is an AI-predicted hypergrowth stock.
Having officially achieved a $3 trillion market valuation, Apple is today the world’s most valuable company. Apple is also one of the few mega-cap technology companies whose gains this year are not driven by its role in artificial intelligence.
Compared to its peers, Apple has relatively little exposure to artificial intelligence. Rather, investors seem to be attracted to the company for its strong balance sheet, impressive free cash flow, and the popularity of its electronic devices like iPhones and MacBook computers. Apple also continues to push into new areas such as online payments andaugmented reality headsets. Most recently, Apple announced that it has opened a new store on the popularChinese social media app WeChat, expanding its reach in the nation of 1.4 billion people.
Source: Jonathan Weiss / Shutterstock.com
Momentum behind e-commerce companyAmazon(NASDAQ:AMZN) is expected to grow, with its latest Prime Day sales event that ran between July 11 and July 12.Bank of America(NYSE:BAC) analysts forecast that the latest Prime Day willgenerate $12 billion in salesfor Amazon, which would represent 10% year-over-year growth and give the company’s Q3 earnings a nice boost. It could also help to further boost AMZN stock, which is already up more than 50% this year.
Beyond Prime Day, Amazon also recentlyopened its new second headquartersin Arlington, Virginia and announced plans to unveil a host of new technologies at an event scheduled to take place on September 20. The company said it will release itslatest and greatest tech devicesat a “Devices and Services” event in September. While it’s not clear what products Amazon plans to unveil at the upcoming event, the company launched the Kindle Scribe e-reader, Halo Rise sleep tracker device, and the Eero PoE 6 router at its similar 2022 event. Stay tuned.
On the date of publication, Joel Bagloleheld long positions in NVDA, AAPL and BAC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
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The post7 Hypergrowth Stocks That AI Is Loving in Julyappeared first onInvestorPlace....
- Reddit Posts (Sample): [['u/changhuanese', 'What is the situation of Bitcoin as a legal tender in El Salvador? (From a Salvadoran)', 710, '2023-08-21 09:44', 'https://www.reddit.com/r/CryptoCurrency/comments/15x0pic/what_is_the_situation_of_bitcoin_as_a_legal/', 'Hi guys, \n\n\nI am quite new in this subreddit and I saw everyday people is posting about news from El Salvador. \nThere are some point that I would like to share from my perspective. \n\n\nIn El Salvador one of the main problems is that we are very behind in tech in general, the population don\'t like changes. \nHonestly the BTC as a legal tender have not been successful as it was expected, for many reasons, I will do a list here: \n1. Average Salvadoran earn USD 400 per month: This is one problem since make people only believe in cash, there is a huge percentage of the population that dont even have bank account, therefore for them use "Chivo Wallet" (The wallet founded by the government)\n\n \n2. "Chivo Wallet ATM" at the very beginning didnt have cash, so the people lost the trust they had, since there was always a sense of risk (don\'t be able to cash out the balance in "Chivo Wallet")\n\n \n3. The population didnt have time to study, and also no one teach how crypto (or at least BTC) works.\n\n \n4. The population in general start to panic after the bull run, since the government purchase very high, and started to decrease the valu day by day (Saying this at the beggining the government gave away for each user $30, therefore the people were tracking everyday their wallet and saw one of the risks of crypto (Volatile) within the first months.\n\n​\n\n5. In El Salvador most of business are not accepting BTC anymore, only a couple located in Bitcoin Beach (El Zonte) \n\n\n6. Recently there are some news about the government teaching kids about BTC, this is a pilot plan, only 2 schools are running the program right now, and it was in rural areas, there are complains from parents, since in rural areas people is agains anything that is not cash. \n\n\nOf course there is many people in the crypto community in El Salvador, but usually in the crypto events there are only a few salvadoran, most of people that attend to these events are foreigners. Most of people feel it is only for the "elite"\n\nI hope this give you an insight of what we are living right now in El Salvador. \nIf you have other questions about what is the "real life" in El Salvador, please feel free to ask, I will answer according what I know (No speculation hahahaha) \n\n\nPS. Sorry for my grammar errors, English is not my first language. \n', 'https://www.reddit.com/r/CryptoCurrency/comments/15x0pic/what_is_the_situation_of_bitcoin_as_a_legal/', '15x0pic', [['u/Bitter_Storage_2918', 10, '2023-08-21 10:59', 'https://www.reddit.com/r/CryptoCurrency/comments/15x0pic/what_is_the_situation_of_bitcoin_as_a_legal/jx3wvgm/', 'Bukele fucked up', '15x0pic']]]]...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin stabilized Tuesday morning in Asia after dropping below the key US$26,000 support level overnight. Ether also dipped but held the US$1,600 mark. All other top 10 non-stablecoin cryptocurrencies traded flat to lower, with Polygon’s Matic leading the losers. Alternative asset manager CoinShares reported a US$55 million outflow in digital asset investment products last week. Analysts say disappointment from the stalemate on U.S. Bitcoin exchange-traded fund (ETF) applications has impacted sentiment. Meanwhile, the Forkast 500 NFT index continued its downward slide in the wake of NFT marketplace OpenSea’s decision to stop enforcing creator royalties. U.S. stock futures traded lower after Wall Street closed mixed on Monday. ETF logjam and low liquidity damaging sentiment Bitcoin dipped 0.10% in the last 24 hours to US$26,133.35 as of 07:30 a.m. in Hong Kong, expanding its weekly loss of 11.12%, according to CoinMarketCap data. The world’s leading cryptocurrency dropped to a low of US$25,846.09 just after midnight, but rallied to reclaim US$26,000 as the night progressed. “As the beginning of the week turned positive for traditional markets, crypto markets seem to — for now — be back in stagnation mode,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. “Many investors were understandably spooked by last week’s rapid rise in volatility and the subsequent price fall, which now means that a positive mood will only be just enough to keep crypto markets where they are.” For some analysts, last week’s rapid decline in the price of Bitcoin is a correction for price increases since June caused by ETF hype in the U.S. “The recent turmoil led BTC price to trading levels that mirror the ones preceding the Blackrock filing for their BTC Spot ETF,” Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note. “The fear-of-missing-out (FOMO) which lasted a few weeks after the filing seems to be now disappeared, waiting for news on the matter,” Greco added. Low liquidity in the crypto market also contributed to last week’s slide. Limited trading volume is driving market makers — which typically absorb sudden fluctuations in supply and demand and help provide a more predictable trading environment — to wind down their activities and wait for a better time to fully resume operations. GSR Markets, described by Greco as “one of the most important market makers,” has recently gone through two rounds of layoffs in response to worsening market conditions. Greco pointed out that before GSR, influential market makers Jane Street and Jump took similar actions citing difficulties with the state of the market. Story continues Along with Bitcoin, Ether dropped 0.84% to US$1,667.73 and moved down 9.55% for the past seven days. All other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. Polygon’s Matic token led the losers. It dropped 3.53% to US$0.5589 for a weekly loss of 17.81%. Digital asset investment products saw an outflow of US$55 million in the week ending August 18. That followed a US$29 million inflow the previous week, according to a CoinShares report released Monday. “We believe this is in reaction to recent media highlighting that a decision by the U.S. Securities & Exchange Commission in allowing a U.S. spot-based ETF is not imminent,” the company wrote in the report. Bitcoin-linked investment products saw the majority of last week’s outflow, totaling US$42 million. Ethereum, Polygon, Litecoin and Polkadot also recorded outflows, while XRP-linked inflows totaled US$1.2 million. The total crypto market capitalization dipped 0.62% in the past 24 hours to US$1.05 trillion, while trading volume rose 35.31% to US$29.31 billion. NFT marketplace Recur to shut down The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index dropped 0.41% in the past 24 hours to 2,319.54 as of 10:10 a.m. in Hong Kong, falling 6.69% for the week. Forkast’s Ethereum Solana and Cardano NFT indexes also logged losses, while the Polygon index moved higher. “The Forkast 500 NFT Index reflects a tremendous loss of value this year which has accelerated this week following OpenSea’s announcement that they’re moving away from forced royalties,” said Yehudah Petscher, NFT strategist at Forkast Labs. OpenSea, one of the world’s largest NFT marketplaces, announced last week it will stop enforcing creator royalty fees from August 31, but will continue to charge a 2.5% fee for every transaction. “Yuga Labs, Animoca, and even Mark Cuban came out with statements calling the move a mistake for the digital economy and creators. Sentiment may be at a low point this year now and as one might expect, prices are tumbling,” said Petscher. The average NFT sales price in the week ending August 20 dropped to US$26.26, the lowest since August 2020 and down over 78% from the start of the year, according to data from CryptoSlam . “Now the flipside is that NFT transactions hit an all time high last week,” said Petscher. Participation matters a lot to me, and seeing 3,702,180 transactions tells me NFTs have reached a new height.” Amid rising transactions and sliding prices, sellers posted about US$9.5 million in losses last week, CryptoSlam data shows. Total NFT trading volume edged up 0.49% in the past 24 hours to US$13.60 million. Volumes on the Ethereum, BNB Chain and Cardano blockchains logged increases, while the Solana, Polygon and Bitcoin volumes dropped. Among NFT collections, Ethereum-based Bored Ape Yacht Club saw the largest 24-hour sales volume. It rose 60.15% to over US$2.04 million. Mythos Chain-based DMarket and Ethereum-based Mutant Ape Yacht Club ranked as the second and third largest collections by 24-hour trading volume. Elsewhere, NFT marketplace Recur announced on Saturday it would gradually shut down by November 16. Today, with heavy hearts, we must share some difficult news. After much contemplation and consideration, we’ve decided to deprecate the RECUR platform, effective November 16, 2023. Learn more: https://t.co/5NbiTQSAGo — RECUR (@RecurForever) August 18, 2023 The decision came less than two years after a US$50 million funding round investment raised the platform’s valuation to US$333 million. “Unforeseen challenges and shifts in the business landscape have made it increasingly difficult for us to continue providing the level of service and dedication that we have always strived to maintain,” said Recur in a Twitter thread on Saturday. All eyes on Nvidia Image: Getty Images U.S. stock futures were trading lower as of 11:20 a.m. in Hong Kong. The three major U.S. indexes closed mixed at the end of regular session trading Monday, with the S&P 500 and Nasdaq Composite logging gains, while the Dow Jones Industrial Average booked losses. Main stock indexes across Asia were mixed on Tuesday morning. China’s Shanghai Composite Index dipped, while Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei logged gains. AI chipmaker Nvidia spearheaded a rally in the technology sector on Monday. The U.S. tech giant posted gains of 8.5% after HSBC raised its price target for the U.S. firm’s stock to US$780, the second highest on Wall Street. Nvidia — whose share price has surged three times higher since the start of the year on the back of booming interest in artificial intelligence — will release its second-quarter earnings report on Wednesday. “I’ve been covering tech since 1994 and I have never seen an environment where you are so dependent on one company to deliver,” Inge Heydorn, partner at investment firm GP Bullhound, told Reuters. “AI is really the last pillar of growth and everybody is depending on it. If Nvidia shows weakness, we could be in for quite a substantial correction in the market,” Bullhound added. Meanwhile, investors await U.S. Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. The Fed-held annual summit will be attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s thinking on monetary policy. “The Fed and investors will soon pivot from a focus on how high the policy rate will go to a concern about how long they will stay at that level — and what the implications are for a ‘higher for longer’ scenario,” Katie Nixon, chief investment officer at financial services firm Northern Trust, told Bloomberg. “In our view, Powell will want to stay on message, and will try to push back against a growing market consensus that rate cuts are on the 2024 horizon,” said Nixon. The U.S. interest rate currently sits between 5.25% and 5.50%, the highest level in the past 22 years. The CME FedWatch Tool predicts a 15.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 11.5% on Monday. In China, investors are assessing Beijing’s latest round of policy stimulus. Analysts suspect Monday’s smaller-than-expected interest rate cut by the central bank may not be enough to stop a slide toward recession. “The small injection of stimulus by China’s central bank in the ailing economy has proved largely underwhelming given the scale of the challenges erupting across sectors, but it has given investors hope there could be more to come,” Susannah Streeter, head of money and markets at U.K.-based financial service firm Hargreaves Lansdown, told Reuters. (Updates with equity section.) View comments', 'Bitcoin stabilized Tuesday morning in Asia after dropping below the key US$26,000 support level overnight. Ether also dipped but held the US$1,600 mark. All other top 10 non-stablecoin cryptocurrencies traded flat to lower, with Polygon’s Matic leading the losers. Alternative asset manager CoinShares reported a US$55 million outflow in digital asset investment products last week. Analysts say disappointment from the stalemate on U.S. Bitcoin exchange-traded fund (ETF) applications has impacted sentiment. Meanwhile, the Forkast 500 NFT index continued its downward slide in the wake of NFT marketplace OpenSea’s decision to stop enforcing creator royalties. U.S. stock futures traded lower after Wall Street closed mixed on Monday.\nBitcoin dipped 0.10% in the last 24 hours to US$26,133.35 as of 07:30 a.m. in Hong Kong, expanding its weekly loss of 11.12%, according toCoinMarketCapdata. The world’s leading cryptocurrency dropped to a low of US$25,846.09 just after midnight, but rallied to reclaim US$26,000 as the night progressed.\n“As the beginning of the week turned positive for traditional markets, crypto markets seem to — for now — be back in stagnation mode,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\n“Many investors were understandably spooked by last week’s rapid rise in volatility and the subsequent price fall, which now means that a positive mood will only be just enough to keep crypto markets where they are.”\nFor some analysts, last week’s rapid decline in the price of Bitcoin is a correction for price increases since June caused by ETF hype in the U.S.\n“The recent turmoil led BTC price to trading levels that mirror the ones preceding the Blackrock filing for their BTC Spot ETF,” Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note.\n“The fear-of-missing-out (FOMO) which lasted a few weeks after the filing seems to be now disappeared, waiting for news on the matter,” Greco added.\nLow liquidity in the crypto market also contributed to last week’s slide. Limited trading volume is driving market makers — which typically absorb sudden fluctuations in supply and demand and help provide a more predictable trading environment — to wind down their activities and wait for a better time to fully resume operations.\nGSR Markets, described by Greco as “one of the most important market makers,” has recently gone through two rounds oflayoffsin response to worsening market conditions. Greco pointed out that before GSR, influential market makers Jane Street and Jump took similar actions citing difficulties with the state of the market.\nAlong with Bitcoin, Ether dropped 0.84% to US$1,667.73 and moved down 9.55% for the past seven days.\nAll other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. Polygon’s Matic token led the losers. It dropped 3.53% to US$0.5589 for a weekly loss of 17.81%.\nDigital asset investment products saw an outflow of US$55 million in the week ending August 18. That followed a US$29 million inflow the previous week, according to a CoinSharesreportreleased Monday.\n“We believe this is in reaction to recent media highlighting that a decision by the U.S. Securities & Exchange Commission in allowing a U.S. spot-based ETF is not imminent,” the company wrote in the report.\nBitcoin-linked investment products saw the majority of last week’s outflow, totaling US$42 million. Ethereum, Polygon, Litecoin and Polkadot also recorded outflows, while XRP-linked inflows totaled US$1.2 million.\nThe total crypto market capitalization dipped 0.62% in the past 24 hours to US$1.05 trillion, while trading volume rose 35.31% to US$29.31 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdropped 0.41% in the past 24 hours to 2,319.54 as of 10:10 a.m. in Hong Kong, falling 6.69% for the week. Forkast’s Ethereum Solana and Cardano NFT indexes also logged losses, while the Polygon index moved higher.\n“The Forkast 500 NFT Index reflects a tremendous loss of value this year which has accelerated this week following OpenSea’s announcement that they’re moving away from forced royalties,” said Yehudah Petscher, NFT strategist at Forkast Labs.\nOpenSea, one of the world’s largest NFT marketplaces,announcedlast week it will stop enforcing creator royalty fees from August 31, but will continue to charge a 2.5% fee for every transaction.\n“Yuga Labs, Animoca, and even Mark Cuban came out with statements calling the move a mistake for the digital economy and creators. Sentiment may be at a low point this year now and as one might expect, prices are tumbling,” said Petscher.\nThe average NFT sales price in the week ending August 20 dropped to US$26.26, the lowest since August 2020 and down over 78% from the start of the year, according to data fromCryptoSlam.\n“Now the flipside is that NFT transactions hit an all time high last week,” said Petscher. Participation matters a lot to me, and seeing 3,702,180 transactions tells me NFTs have reached a new height.”\nAmid rising transactions and sliding prices, sellers posted about US$9.5 million in losses last week, CryptoSlam data shows.\nTotal NFT trading volume edged up 0.49% in the past 24 hours to US$13.60 million. Volumes on the Ethereum, BNB Chain and Cardano blockchains logged increases, while the Solana, Polygon and Bitcoin volumes dropped.\nAmong NFT collections, Ethereum-based Bored Ape Yacht Club saw the largest 24-hour sales volume. It rose 60.15% to over US$2.04 million. Mythos Chain-based DMarket and Ethereum-based Mutant Ape Yacht Club ranked as the second and third largest collections by 24-hour trading volume.\nElsewhere, NFT marketplace Recur announced on Saturday it would gradually shut down by November 16.\nThe decision came less than two years after a US$50 million funding roundinvestmentraised the platform’s valuation to US$333 million.\n“Unforeseen challenges and shifts in the business landscape have made it increasingly difficult for us to continue providing the level of service and dedication that we have always strived to maintain,” said Recur in a Twitter thread on Saturday.\nU.S. stock futures were trading lower as of 11:20 a.m. in Hong Kong. The three major U.S. indexes closed mixed at the end of regular session trading Monday, with the S&P 500 and Nasdaq Composite logging gains, while the Dow Jones Industrial Average booked losses.\nMain stock indexes across Asia were mixed on Tuesday morning. China’s Shanghai Composite Index dipped, while Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei logged gains.\nAI chipmaker Nvidia spearheaded a rally in the technology sector on Monday. The U.S. tech giant posted gains of 8.5% after HSBCraisedits price target for the U.S. firm’s stock to US$780, the second highest on Wall Street.\nNvidia — whose share price has surged three times higher since the start of the year on the back of booming interest in artificial intelligence — will release its second-quarter earnings report on Wednesday.\n“I’ve been covering tech since 1994 and I have never seen an environment where you are so dependent on one company to deliver,” Inge Heydorn, partner at investment firm GP Bullhound,toldReuters.\n“AI is really the last pillar of growth and everybody is depending on it. If Nvidia shows weakness, we could be in for quite a substantial correction in the market,” Bullhound added.\nMeanwhile, investors await U.S. Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. The Fed-held annual summit will be attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s thinking on monetary policy.\n“The Fed and investors will soon pivot from a focus on how high the policy rate will go to a concern about how long they will stay at that level — and what the implications are for a ‘higher for longer’ scenario,” Katie Nixon, chief investment officer at financial services firm Northern Trust,toldBloomberg.\n“In our view, Powell will want to stay on message, and will try to push back against a growing market consensus that rate cuts are on the 2024 horizon,” said Nixon.\nThe U.S. interest rate currently sits between 5.25% and 5.50%, the highest level in the past 22 years. TheCME FedWatch Toolpredicts a 15.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 11.5% on Monday.\nIn China, investors are assessing Beijing’s latest round of policy stimulus. Analysts suspect Monday’ssmaller-than-expectedinterest rate cut by the central bank may not be enough to stop a slide toward recession.\n“The small injection of stimulus by China’s central bank in the ailing economy has proved largely underwhelming given the scale of the challenges erupting across sectors, but it has given investors hope there could be more to come,” Susannah Streeter, head of money and markets at U.K.-based financial service firm Hargreaves Lansdown,toldReuters.\n(Updates with equity section.)', 'Bitcoin stabilized Tuesday morning in Asia after dropping below the key US$26,000 support level overnight. Ether also dipped but held the US$1,600 mark. All other top 10 non-stablecoin cryptocurrencies traded flat to lower, with Polygon’s Matic leading the losers. Alternative asset manager CoinShares reported a US$55 million outflow in digital asset investment products last week. Analysts say disappointment from the stalemate on U.S. Bitcoin exchange-traded fund (ETF) applications has impacted sentiment. Meanwhile, the Forkast 500 NFT index continued its downward slide in the wake of NFT marketplace OpenSea’s decision to stop enforcing creator royalties. U.S. stock futures traded lower after Wall Street closed mixed on Monday.\nBitcoin dipped 0.10% in the last 24 hours to US$26,133.35 as of 07:30 a.m. in Hong Kong, expanding its weekly loss of 11.12%, according toCoinMarketCapdata. The world’s leading cryptocurrency dropped to a low of US$25,846.09 just after midnight, but rallied to reclaim US$26,000 as the night progressed.\n“As the beginning of the week turned positive for traditional markets, crypto markets seem to — for now — be back in stagnation mode,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\n“Many investors were understandably spooked by last week’s rapid rise in volatility and the subsequent price fall, which now means that a positive mood will only be just enough to keep crypto markets where they are.”\nFor some analysts, last week’s rapid decline in the price of Bitcoin is a correction for price increases since June caused by ETF hype in the U.S.\n“The recent turmoil led BTC price to trading levels that mirror the ones preceding the Blackrock filing for their BTC Spot ETF,” Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note.\n“The fear-of-missing-out (FOMO) which lasted a few weeks after the filing seems to be now disappeared, waiting for news on the matter,” Greco added.\nLow liquidity in the crypto market also contributed to last week’s slide. Limited trading volume is driving market makers — which typically absorb sudden fluctuations in supply and demand and help provide a more predictable trading environment — to wind down their activities and wait for a better time to fully resume operations.\nGSR Markets, described by Greco as “one of the most important market makers,” has recently gone through two rounds oflayoffsin response to worsening market conditions. Greco pointed out that before GSR, influential market makers Jane Street and Jump took similar actions citing difficulties with the state of the market.\nAlong with Bitcoin, Ether dropped 0.84% to US$1,667.73 and moved down 9.55% for the past seven days.\nAll other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. Polygon’s Matic token led the losers. It dropped 3.53% to US$0.5589 for a weekly loss of 17.81%.\nDigital asset investment products saw an outflow of US$55 million in the week ending August 18. That followed a US$29 million inflow the previous week, according to a CoinSharesreportreleased Monday.\n“We believe this is in reaction to recent media highlighting that a decision by the U.S. Securities & Exchange Commission in allowing a U.S. spot-based ETF is not imminent,” the company wrote in the report.\nBitcoin-linked investment products saw the majority of last week’s outflow, totaling US$42 million. Ethereum, Polygon, Litecoin and Polkadot also recorded outflows, while XRP-linked inflows totaled US$1.2 million.\nThe total crypto market capitalization dipped 0.62% in the past 24 hours to US$1.05 trillion, while trading volume rose 35.31% to US$29.31 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdropped 0.41% in the past 24 hours to 2,319.54 as of 10:10 a.m. in Hong Kong, falling 6.69% for the week. Forkast’s Ethereum Solana and Cardano NFT indexes also logged losses, while the Polygon index moved higher.\n“The Forkast 500 NFT Index reflects a tremendous loss of value this year which has accelerated this week following OpenSea’s announcement that they’re moving away from forced royalties,” said Yehudah Petscher, NFT strategist at Forkast Labs.\nOpenSea, one of the world’s largest NFT marketplaces,announcedlast week it will stop enforcing creator royalty fees from August 31, but will continue to charge a 2.5% fee for every transaction.\n“Yuga Labs, Animoca, and even Mark Cuban came out with statements calling the move a mistake for the digital economy and creators. Sentiment may be at a low point this year now and as one might expect, prices are tumbling,” said Petscher.\nThe average NFT sales price in the week ending August 20 dropped to US$26.26, the lowest since August 2020 and down over 78% from the start of the year, according to data fromCryptoSlam.\n“Now the flipside is that NFT transactions hit an all time high last week,” said Petscher. Participation matters a lot to me, and seeing 3,702,180 transactions tells me NFTs have reached a new height.”\nAmid rising transactions and sliding prices, sellers posted about US$9.5 million in losses last week, CryptoSlam data shows.\nTotal NFT trading volume edged up 0.49% in the past 24 hours to US$13.60 million. Volumes on the Ethereum, BNB Chain and Cardano blockchains logged increases, while the Solana, Polygon and Bitcoin volumes dropped.\nAmong NFT collections, Ethereum-based Bored Ape Yacht Club saw the largest 24-hour sales volume. It rose 60.15% to over US$2.04 million. Mythos Chain-based DMarket and Ethereum-based Mutant Ape Yacht Club ranked as the second and third largest collections by 24-hour trading volume.\nElsewhere, NFT marketplace Recur announced on Saturday it would gradually shut down by November 16.\nThe decision came less than two years after a US$50 million funding roundinvestmentraised the platform’s valuation to US$333 million.\n“Unforeseen challenges and shifts in the business landscape have made it increasingly difficult for us to continue providing the level of service and dedication that we have always strived to maintain,” said Recur in a Twitter thread on Saturday.\nU.S. stock futures were trading lower as of 11:20 a.m. in Hong Kong. The three major U.S. indexes closed mixed at the end of regular session trading Monday, with the S&P 500 and Nasdaq Composite logging gains, while the Dow Jones Industrial Average booked losses.\nMain stock indexes across Asia were mixed on Tuesday morning. China’s Shanghai Composite Index dipped, while Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei logged gains.\nAI chipmaker Nvidia spearheaded a rally in the technology sector on Monday. The U.S. tech giant posted gains of 8.5% after HSBCraisedits price target for the U.S. firm’s stock to US$780, the second highest on Wall Street.\nNvidia — whose share price has surged three times higher since the start of the year on the back of booming interest in artificial intelligence — will release its second-quarter earnings report on Wednesday.\n“I’ve been covering tech since 1994 and I have never seen an environment where you are so dependent on one company to deliver,” Inge Heydorn, partner at investment firm GP Bullhound,toldReuters.\n“AI is really the last pillar of growth and everybody is depending on it. If Nvidia shows weakness, we could be in for quite a substantial correction in the market,” Bullhound added.\nMeanwhile, investors await U.S. Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. The Fed-held annual summit will be attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s thinking on monetary policy.\n“The Fed and investors will soon pivot from a focus on how high the policy rate will go to a concern about how long they will stay at that level — and what the implications are for a ‘higher for longer’ scenario,” Katie Nixon, chief investment officer at financial services firm Northern Trust,toldBloomberg.\n“In our view, Powell will want to stay on message, and will try to push back against a growing market consensus that rate cuts are on the 2024 horizon,” said Nixon.\nThe U.S. interest rate currently sits between 5.25% and 5.50%, the highest level in the past 22 years. TheCME FedWatch Toolpredicts a 15.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 11.5% on Monday.\nIn China, investors are assessing Beijing’s latest round of policy stimulus. Analysts suspect Monday’ssmaller-than-expectedinterest rate cut by the central bank may not be enough to stop a slide toward recession.\n“The small injection of stimulus by China’s central bank in the ailing economy has proved largely underwhelming given the scale of the challenges erupting across sectors, but it has given investors hope there could be more to come,” Susannah Streeter, head of money and markets at U.K.-based financial service firm Hargreaves Lansdown,toldReuters.\n(Updates with equity section.)', 'WhenFTX fell apartlast year, the repercussions were devastating. The contagion not only caused crypto assets to tumble and damaged the portfolios of professional traders, but it also eliminated a prominent investment pool for blockchain startups. Countless individual investors witnessed their life savings evaporate, and I sympathize with all the victims.\nWhile acknowledging past mistakes and repercussions, there is a silver lining that cannot be ignored. Although unpopular in some quarters, the news of a potential FTX relaunch under a new name has sparked a wave of optimism in the crypto community, and with good reason. A relaunch could bring about a range of positive outcomes for the industry, investors and customers alike.\nOne of the most significant advantages of asuccessfulFTX relaunch would be the potential to attract more investors back into the crypto space. Should the exchange re-emerge with a new management team and a realized commitment to rectify past issues, it may garner renewed interest from the wider investing community. And the positive effects would compound. Increased investor participation would infuse the exchange with additional funds, which could then be used to repay users who have experienced losses in the past, again instilling trust in centralized crypto exchanges.\nWhile the crypto community is rightly skeptical of the motives behind launching FTX 2.0, there is precedent showing that it is in fact possible to make creditors whole through restructuring. TheBitfinex incidentis a great example. In 2016, crypto exchange Bitfinex was hacked, and 120,000 Bitcoins were subsequently stolen. In response to the hack, Bitfinex released the “recovery rights tokens” (RRT), designed to serve as an IOU to affected customers. These tokens promised a share of future profits to compensate for the losses. Within a year, all the tokens were redeemed and customers were repaid.\nTrue, Bitfinex’s troubles stemmed from external parties, not internal criminal activity as was the case with FTX. On that point, another popular comparison for the FTX scandal is Bernie Madoff’s record-breaking fraud. But the comparison to Madoff is weak because Madoff ran a simple Ponzi scheme, whereas FTX did have a viable business model, despite the additional criminal activities running alongside. Thus, despite the differences in the origin of their downfall, Bitfinex sets a precedent for a large-scale crypto comeback despite a major dent in credibility and trust. A similar comeback on FTX’s part could compensate affected users with its potential future profit, for instance, offering them a stake in the exchange’s success and a path to recouping their funds over time.\nThat being said, revitalizing the tarnished name of FTX requires careful recalibration of governance and internal structures. The exchange must undergo strategic and tangible changes to set itself apart from the now-infamous name of Sam Bankman-Fried, who isin jail. For instance, the new management team could voluntarily provide evidence to the prosecution to maximize their distance from the former management. Furthermore, FTX 2.0 may also consider setting up a compensation fund, with profits from new business to top it up, providing restitution to customers in case of unforeseen issues or losses.\nIn order to prevent illegal activities, the new FTX must implement stricter compliance measures and enhance its efforts to improve transparency, including clear guidelines for the separation of powers between the board of directors, executive management and operational teams. This would rectify the mistakes made possible by the inexperienced original team behind FTX and the illegal transfer of funds to Alameda Research.\nOf course, restructuring isn’t the only way to recover customers’ funds. There is also the option of going through traditional proceedings, such as the rehabilitation plan proposed forMt. Gox. The Japanese exchange filed for bankruptcy shortly after it was hacked in 2014. However, not until late 2021 were the creditors and the government able to reach an agreement on arehabilitation plan. The lesson drawn here is that a restructuring plan akin to Bitfinex’s could potentially compensate creditors much faster.\nNo one’s a fan of bailouts. That’s especially true knowing the failures of the management can oftentimes go unpunished while using taxpayer money to return misused funds. But restructuring is different. New management teams are appointed to revitalize existing businesses, while the bad actors suffer the consequences of their crimes. In this format, a business recovery can return value to the market.\nEven though there are already plenty of centralized and decentralized alternatives available, FTX does have an established presence in the market. Instead of abandoning their solid platforms and systems that have built up a large customer base, a relaunch utilizing these strengths could bring tremendous market value, especially if there is a chance of recovering lost funds for users.\nCentralized exchanges undeniably have their purposes, as they are often a trusted gateway for people to enter the crypto space, which is crucial to driving greater Web3 adoption.\nYet, that trust was undermined when FTX’s clear lack of risk management and transparency emerged. Clearly, revamped risk management features will play a pivotal role in its relaunch. And for this, there are valuable lessons to be learned fromdecentralized financeplatforms.\nWhile DeFi is not flawless in its current form, it does offer higher transparency compared to centralized control. DeFi allows transactions to be executed via a public blockchain network without reliance on central service providers. A truly decentralized protocol would have prevented the FTX disaster thanks to its immutable, decentralized, transparent and permissionless nature. There’s no way to siphon off funds into an alternative company without anyone noticing, as we saw with FTX.\nAs it becomes increasingly clear that DeFi has advantages, there arecaseswhere centralized exchanges are increasingly incorporating DeFi elements such as the implementation ofcold walletsor verifiable proof-of-solvency. It would be interesting to see whether the FTX reboot plans to integrate any such approaches.\nTo wrap up, supporting the FTX relaunch provides an opportunity for the crypto industry to learn from past mistakes, rebuild trust and foster greater adoption. While relaunching FTX holds tremendous potential, it is essential to couple it with significant improvements and continued innovation. Emulating DeFi’s transparency, security and risk management will be crucial for the long-term success of the relaunched exchange. By combining the strengths of centralized exchanges with the transparency and innovation of DeFi, we can pave the way for a more resilient and trustworthy future in the crypto financial landscape.', 'When FTX fell apart last year, the repercussions were devastating. The contagion not only caused crypto assets to tumble and damaged the portfolios of professional traders, but it also eliminated a prominent investment pool for blockchain startups. Countless individual investors witnessed their life savings evaporate, and I sympathize with all the victims. While acknowledging past mistakes and repercussions, there is a silver lining that cannot be ignored. Although unpopular in some quarters, the news of a potential FTX relaunch under a new name has sparked a wave of optimism in the crypto community, and with good reason. A relaunch could bring about a range of positive outcomes for the industry, investors and customers alike. Relaunching FTX has its merits One of the most significant advantages of a successful FTX relaunch would be the potential to attract more investors back into the crypto space. Should the exchange re-emerge with a new management team and a realized commitment to rectify past issues, it may garner renewed interest from the wider investing community. And the positive effects would compound. Increased investor participation would infuse the exchange with additional funds, which could then be used to repay users who have experienced losses in the past, again instilling trust in centralized crypto exchanges. While the crypto community is rightly skeptical of the motives behind launching FTX 2.0, there is precedent showing that it is in fact possible to make creditors whole through restructuring. The Bitfinex incident is a great example. In 2016, crypto exchange Bitfinex was hacked, and 120,000 Bitcoins were subsequently stolen. In response to the hack, Bitfinex released the “recovery rights tokens” (RRT), designed to serve as an IOU to affected customers. These tokens promised a share of future profits to compensate for the losses. Within a year, all the tokens were redeemed and customers were repaid. True, Bitfinex’s troubles stemmed from external parties, not internal criminal activity as was the case with FTX. On that point, another popular comparison for the FTX scandal is Bernie Madoff’s record-breaking fraud. But the comparison to Madoff is weak because Madoff ran a simple Ponzi scheme, whereas FTX did have a viable business model, despite the additional criminal activities running alongside. Thus, despite the differences in the origin of their downfall, Bitfinex sets a precedent for a large-scale crypto comeback despite a major dent in credibility and trust. A similar comeback on FTX’s part could compensate affected users with its potential future profit, for instance, offering them a stake in the exchange’s success and a path to recouping their funds over time. Story continues That being said, revitalizing the tarnished name of FTX requires careful recalibration of governance and internal structures. The exchange must undergo strategic and tangible changes to set itself apart from the now-infamous name of Sam Bankman-Fried, who is in jail . For instance, the new management team could voluntarily provide evidence to the prosecution to maximize their distance from the former management. Furthermore, FTX 2.0 may also consider setting up a compensation fund, with profits from new business to top it up, providing restitution to customers in case of unforeseen issues or losses. In order to prevent illegal activities, the new FTX must implement stricter compliance measures and enhance its efforts to improve transparency, including clear guidelines for the separation of powers between the board of directors, executive management and operational teams. This would rectify the mistakes made possible by the inexperienced original team behind FTX and the illegal transfer of funds to Alameda Research. Of course, restructuring isn’t the only way to recover customers’ funds. There is also the option of going through traditional proceedings, such as the rehabilitation plan proposed for Mt. Gox . The Japanese exchange filed for bankruptcy shortly after it was hacked in 2014. However, not until late 2021 were the creditors and the government able to reach an agreement on a rehabilitation plan . The lesson drawn here is that a restructuring plan akin to Bitfinex’s could potentially compensate creditors much faster. No one’s a fan of bailouts. That’s especially true knowing the failures of the management can oftentimes go unpunished while using taxpayer money to return misused funds. But restructuring is different. New management teams are appointed to revitalize existing businesses, while the bad actors suffer the consequences of their crimes. In this format, a business recovery can return value to the market. Even though there are already plenty of centralized and decentralized alternatives available, FTX does have an established presence in the market. Instead of abandoning their solid platforms and systems that have built up a large customer base, a relaunch utilizing these strengths could bring tremendous market value, especially if there is a chance of recovering lost funds for users. Taking a page from DeFi’s playbook Centralized exchanges undeniably have their purposes, as they are often a trusted gateway for people to enter the crypto space, which is crucial to driving greater Web3 adoption. Yet, that trust was undermined when FTX’s clear lack of risk management and transparency emerged. Clearly, revamped risk management features will play a pivotal role in its relaunch. And for this, there are valuable lessons to be learned from decentralized finance platforms. While DeFi is not flawless in its current form, it does offer higher transparency compared to centralized control. DeFi allows transactions to be executed via a public blockchain network without reliance on central service providers. A truly decentralized protocol would have prevented the FTX disaster thanks to its immutable, decentralized, transparent and permissionless nature. There’s no way to siphon off funds into an alternative company without anyone noticing, as we saw with FTX. As it becomes increasingly clear that DeFi has advantages, there are cases where centralized exchanges are increasingly incorporating DeFi elements such as the implementation of cold wallets or verifiable proof-of-solvency. It would be interesting to see whether the FTX reboot plans to integrate any such approaches. To wrap up, supporting the FTX relaunch provides an opportunity for the crypto industry to learn from past mistakes, rebuild trust and foster greater adoption. While relaunching FTX holds tremendous potential, it is essential to couple it with significant improvements and continued innovation. Emulating DeFi’s transparency, security and risk management will be crucial for the long-term success of the relaunched exchange. By combining the strengths of centralized exchanges with the transparency and innovation of DeFi, we can pave the way for a more resilient and trustworthy future in the crypto financial landscape.', 'Goldman Sach\'s gives its list of high Sharpe ratio stocks. Andrew Kelly/Reuters US stocks finished mixed on Monday as traders looked ahead to key earnings reports this week. The Nasdaq snapped a four-day losing streak as investors awaited Zoom, Nvidia, and Snowflake earnings. Markets are also expecting Fed Chair Jerome Powell to speak at Jackson Hole on Friday. US stocks traded mixed on Monday, with tech stocks rising as investors looked ahead to key earnings reports over the coming week. The Nasdaq snapped a four-day losing streak, with Zoom Video reporting late Monday, while Nvidia and Snowflake report on Wednesday. Markets are also anticipating Federal Reserve Chair Jerome Powell to speak at the Jackson Hole Symposium on Friday, when he will deliver remarks on the state of the US economy. Positive comments from the central bank chief could be another catalyst that drives the stock market higher , some strategists have said, though Powell has previously warned that monetary policy could grow even tighter as inflation remains above the Fed\'s 2% target . Here\'s where US indexes stood at the 4:00 p.m. closing bell on Monday: S&P 500 : 4,399.77, up 0.69% Dow Jones Industrial Average : 34,463.69, down 0.11% (36.97 points) Nasdaq Composite : 13,497.59, up 1.56% Here\'s what else is going on today: Here\'s why a mild recession could be a good thing for the housing market . Goldman Sachs thinks there are three reasons why the stock market has room to run higher . Tech stocks just flashed a "sell" signal ahead of Nvidia\'s big earnings report . Bond yields are attractive, but stocks are still better for long-term wealth , Wharton professor Jeremy Siegel said. There are two big catalysts that could spark a stock market rally this week , according to Fundstrat. China\'s economic troubles are the result of a post-2008 "debt supercycle," top economist Kenneth Rogoff said. India\'s central bank urged lenders to de-dollarize trade with the United Arab Emirates, Reuters reported. Russia\'s economic woes have been a boon for the UAE , bringing in a flood of cash and sparking a real estate boom in the country. Story continues In commodities, bonds, and crypto: Oil prices were lower. West Texas Intermediate crude oil dropped 0.64% to $80.73 a barrel. Brent , the international benchmark, slipped 0.09 % to $84.38 a barrel. Gold rose 0.29% to $1,894.88 per ounce. The yield on the 10-year Treasury bond jumped nine basis points to 4.342%. Bitcoin dipped 0.19% to $26,064. Read the original article on Business Insider', '• US stocks finished mixed on Monday as traders looked ahead to key earnings reports this week.\n• The Nasdaq snapped a four-day losing streak as investors awaited Zoom, Nvidia, and Snowflake earnings.\n• Markets are also expecting Fed Chair Jerome Powell to speak at Jackson Hole on Friday.\nUS stocks traded mixed on Monday, with tech stocks rising as investors looked ahead to key earnings reports over the coming week.\nThe Nasdaq snapped a four-day losing streak, withZoom Videoreporting late Monday, whileNvidiaandSnowflakereport on Wednesday.\nMarkets are also anticipating Federal Reserve Chair Jerome Powell to speak at the Jackson Hole Symposium on Friday, when he will deliver remarks on the state of the US economy.\nPositive comments from the central bank chief could be anothercatalyst that drives the stock market higher, some strategists have said, though Powell has previously warned that monetary policy could grow even tighter asinflation remains above the Fed\'s 2% target.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Monday:\n• S&P 500:4,399.77, up 0.69%\n• Dow Jones Industrial Average:34,463.69, down 0.11% (36.97 points)\n• Nasdaq Composite:13,497.59, up 1.56%\nHere\'s what else is going on today:\n• Here\'s whya mild recession could be a good thing for the housing market.\n• Goldman Sachs thinks there arethree reasons why the stock market has room to run higher.\n• Tech stocks just flashed a "sell" signal ahead of Nvidia\'s big earnings report.\n• Bond yields are attractive, butstocks are still better for long-term wealth, Wharton professor Jeremy Siegel said.\n• There are two big catalysts that could spark a stock market rally this week, according to Fundstrat.\n• China\'s economic troubles are the result of a post-2008 "debt supercycle,"top economist Kenneth Rogoff said.\n• India\'s central bank urged lenders to de-dollarize tradewith the United Arab Emirates, Reuters reported.\n• Russia\'s economic woes have been a boon for the UAE, bringing in a flood of cash and sparking a real estate boom in the country.\nIn commodities, bonds, and crypto:\n• Oil prices were lower.West Texas Intermediatecrude oil dropped 0.64% to $80.73 a barrel.Brent, the international benchmark, slipped 0.09 % to $84.38 a barrel.\n• Goldrose 0.29% to $1,894.88 per ounce.\n• The yield on the 10-year Treasury bond jumped nine basis points to 4.342%.\n• Bitcoindipped 0.19% to $26,064.\nRead the original article onBusiness Insider', "FBI Seized Over $1.7M in Crypto Assets Between March to July 2023 The FBI's Continued Attempts To Target Suspected Illegal Activity Inside The Digital Asset Ecosystem The Federal Bureau of Investigation (FBI) recently reported that between March and July of this year, the agency had seized cryptocurrencies worth over $1.7 million owing to violations of federal law. According to the notice, the FBI had taken these assets for federal forfeiture purposes. The majority of the seized money, or about $800,000, was in the form of Ethereum (ETH) . The Eastern District of Virginia saw the largest seizure, as $463,811 worth of ETH was seized. Out of all the states in the United States, Florida and Virginia had the most crypto assets seized. Stablecoins were also included in the confiscated assets; in one case, DAI worth $469,000 was seized in the Eastern District of Virginia. There were eight occurrences of USDT (Tether) seizures documented, however there were none for USDC (USD Coin). The FBI's seizure included other cryptocurrencies as well, such as $147,000 worth of Bitcoin and $20,000 worth of Monero . Additional tokens like Solana and Cardano were also among the listed confiscated assets. It's interesting to note that meme-based cryptocurrencies, including $200 worth of Dogecoin , made it into the seized collection. The FBI's continued attempts to target suspected illegal activity inside the digital asset ecosystem are reflected in the collection of numerous cryptocurrencies.", "The FBI's Continued Attempts To Target Suspected Illegal Activity Inside The Digital Asset Ecosystem\nThe Federal Bureau of Investigation (FBI) recentlyreportedthat between March and July of this year, the agency had seized cryptocurrencies worth over $1.7 million owing to violations of federal law. According to the notice, the FBI had taken these assets for federal forfeiture purposes.\nThe majority of the seized money, or about $800,000, was in the form ofEthereum (ETH). The Eastern District of Virginia saw the largest seizure, as $463,811 worth of ETH was seized. Out of all the states in the United States, Florida and Virginia had the most crypto assets seized.\nStablecoins were also included in the confiscated assets; in one case,DAIworth $469,000 was seized in the Eastern District of Virginia. There were eight occurrences ofUSDT(Tether) seizures documented, however there were none forUSDC(USD Coin).\nThe FBI's seizure included other cryptocurrencies as well, such as $147,000 worth ofBitcoinand $20,000 worth ofMonero. Additional tokens likeSolanaandCardanowere also among the listed confiscated assets.\nIt's interesting to note that meme-based cryptocurrencies, including $200 worth ofDogecoin, made it into the seized collection. The FBI's continued attempts to target suspected illegal activity inside the digital asset ecosystem are ref
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-22
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $506,992,645,469
- Hash Rate: 380936887.228172
- Transaction Count: 420857.0
- Unique Addresses: 633631.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.37
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoinhas been hampered by its own popularity. Thanks to the way theblockchainis designed, the speed of transactions is slow and the cost of transactions has increased.
Researchers, developers, and the Bitcoin community have been trying to come up with a way of allowing Bitcoin—and othercryptocurrencies—to accommodate more transactions.
Their best efforts to date have focused around something called theLightning Network. Can it fix the cryptocurrency's scaling problems?
A blockchain has two limitations we need to explain before exploring potential fixes.
The first isspeed.
In a blockchain, blocks are essentially groups of transactions collected together. As part of a blockchain’s design, there are only so many transactions that can be included in a block.
If your transaction doesn’t make it into the current block, it joins a queue. That queue can take anywhere from a few minutes to potentially a day or more to process, depending on how many other transactions are queued in themempool.
That limits the blockchain’s use as a medium to process quick transactions, like buying a cup of coffee. No one wants to wait around for the network to verify you’ve got the cash.
The Lightning Network's amazing progress this year
The second limitation iscost.
Bitcoin’s network, and others, are built upon a consensus protocol calledproof-of-work.
This is whereminersexpend energy trying to solve a difficult puzzle. To help offset the cost of equipment and energy used in that calculation, miners charge transaction fees.
When the system is small, and the number of transactions that need verifying is few and far between, the network works well and transaction costs are low. As the network grows, however, so do transaction fees, since there is limited space in each newly mined block. As a result, transactions with the highest fees are prioritized for processing when the system faces high usage.
Bitcoin's scalability challenge became apparent toward the end of 2017 when millions of people jumped on the Bitcoin bandwagon and itstruggled to copewith the number of transactions. At its peak in December 2017, the average cost to process one transaction on the Bitcoin blockchain—whether the amount was $1 or $1,000—was$37. That made Bitcoin largely uneconomical as a currency. And that’s where the Lightning Network comes in. (We've got a whole article explaining more aboutBitcoin's limitations.)
The Lightning Network is a layer-2 built on top of the Bitcoin network, meaning that it's built separately from the Bitcoin network but interacts with it. It’s made up of a system of channels that allows people or companies to move money between one another without needing to use the blockchain to verify the transaction.
It bears similarities to the current settlement system used by companies like Visa and Mastercard. When you pay for something, it’s not instantly settled. Instead, there’s a quick verification of funds from the buyer and the request from the seller—giving the green light for a transaction to take place. The actual settlement of funds happens later—in some cases, days or weeks.
The Lightning Network is run by a network of nodes that process payments, and transactions are commonly made using QR codes—instead of complex public keys. In theory, it could allow thousands, or even hundreds of thousands, of transactions to take place instantly, making small transactions economical.
The bottom line is, payments are faster and cheaper.
The Lightning Network has its origins inmusingsby Satoshi Nakamoto, the pseudonymous creator of Bitcoin, but was formalized by researchers Joseph Poon and Thaddeus Dryja, who published awhite paperabout the Lightning Network on January 14, 2016.
They argued that a network of micropayment channels could fix the scalability issues of the Bitcoin network, rather than changing the Bitcoin network itself to allow more transactions.
Lightning Labs, a blockchain engineering lab, helped to launch a beta version of the Lightning Network in March 2018—alongside a host of individuals and other companies including ACINQ and Blockstream. It was initially funded via a $2.5 million seed round, which included notable investor Jack Dorsey (whose company Square has since funded severalgrantsfor Bitcoin and Lightning Network projects). The first version of the Lightning Network was launched on Bitcoin in March 2018.
The Lightning Network was the first attempt at a second-layer solution, but others followed.
The Lightning Network is faster and cheaper because it skirts the main Bitcoin blockchain.
It has an unstructured network set up around it. Channels are the ad hoc, peer-to-peer connections through which payments are made. Any number of payments can be sent in a channel.
The network is maintained by nodes that route payments. Nodes are run by everyday people—or corporations—running a program on their desktops, laptops, or Raspberry Pis. This keeps the Lightning Network decentralized.
To start using the Lightning Network, any amount of Bitcoin needs to be locked up in a payments channel. Then, it can be spent across the Lightning Network until the channel is closed.
When someone wants to receive a transaction, they create an invoice, a long alphanumeric string of digits—often represented using QR codes. The person who wants to make the payment simply needs to scan this invoice with their Lightning Wallet and confirm (by providing a digital signature) the payment.
When a payment is made, the confirmation is sent across the network to the person who originally made the request. This is known as a peer-to-peer network and means the processing of payments is not reliant on any one party. This typically happens in just a few seconds—hence the name "Lightning."
Since payments aren't made on the Bitcoin blockchain, they're not subject to long wait times and high fees. This means that much smaller payments, or micropayments, can be made for as little as one satoshi (one hundred millionth of a Bitcoin).
Once someone has finished using the network, they can close that channel and exit, and then use their BTC again on the standard Bitcoin network.
Let’s say you want to transact with your local coffee shop. First, you’d need to send some Bitcoin to a wallet that requires more than one signature or key to release the funds.
These are commonly referred to asmultisigwallets. In the case of the Lightning Network, it allows people to enter into an agreement that ensures a payment is received, effectively creating a balance sheet.
Electrum wallet goes in beta with Bitcoin Lightning support
Every time you buy a cup of coffee a new balance sheet is created, and you sign it with your public key to reflect what’s left in your wallet as well as what’s in the coffee shop’s wallet.
If you don’t want to buy coffee anymore from that coffee shop, you can close the channel, and the resulting balance sheet is committed to the blockchain as a permanent record.
Payment disputes also can be settled by referring to the last signed balance sheet between the two parties.
What happens if you don’t have a direct channel with the next place you want to buy something from? The network will find the shortest route between you and the shop via others in the network.
You can connect to the Lightning Network either by running a node or by using a Lightning wallet. Here are our top picks:
If you don’t want the full-node experience, you can download theBitcoin Lightning Walletapp on your Android phone, which sorts everything out in the background. With this, you can open a Lightning channel and start making transactions with other users. It’s also “non-custodial,” meaning you look after your own keys—keeping your Bitcoin in your hands. (We tried it out by paying for ataxi ride).
Bitcoin Lightning Wallet review: Too technical and lacking guidance
Read our review of theBitcoin Lightning Wallet.
If you want to use the Lightning Network but don’t want to look after your own funds,Blue Walletis a custodial service that runs a node for you. It allows you to send and receive Lightning payments, but doesn’t let you withdraw your Bitcoin from the Lightning Network.
To get the full Lightning Network experience, you can tryrunning a full node.
How to Run a Bitcoin Node on a Raspberry Pi (2021)
So what does this mean? Well, for a start, you’re now supporting the Bitcoin network and the Lightning Network by checking that transactions are legitimate. It also means you can connect it to your computer and make transactions from your own node. This literally makes you your own bank; you are the only person owning and controlling your funds. Scary, huh?
If you’re feeling more ambitious, you could set up a full Lightning Node. This takes a lot more computer know-how. It means downloadingEclaironto your computer—or a homemade Raspberry Pi—and running it. You are then routing transactions on the network and can make your own transactions.
Eclair also offers a mobile version for Android users calledEclair Mobile. This is a stripped-down Lightning node, which means you stay in control of your Bitcoin. You can connect it to your own Eclair Lightning Node if you’re running one. There’s only one catch: You can’t receive payments. Eclair explains why inthis blog post. (TL;DR: It’s safer and easier for them.)
Once you’ve set up your own node, what next? Are you stuck with using a desktop app?Lightning Jouleis a browser extension that lets you connect your Lightning Node to your browser so that you can easily make payments within Chrome, Firefox, Opera, andBrave. It’s a convenient hack.
For a start, you can make payments to anyone else who has a Lightning wallet set up. But there’s more to the Lightning Network: As a digital currency, it's easily integrated into websites without the need for third parties.
Three surprising ways people are using Bitcoin's Lightning Network
Although the vast majority of crypto companies don’t yet accept Lightning transactions, that figure is slowly growing. Nonetheless, a wide range of popular Lightning-capable platforms are currently operating, ranging from cryptocurrency exchanges like Bitfinex and MercuriEX to online retailers and merchants like Bitrefill, plus a wide range of casinos and other service providers.
If you are looking for somewhere local, then you might be able to find something nearby onAccept Lightningor on theLightning Network Stores.
Here are some examples of things you can do with the Lightning Network:
You can get some more Bitcoin. Faucets have long been a way to distribute small amounts of Bitcoin and other cryptocurrencies, and it’s no different with the Lightning Network. ThisLightning Faucetlets you test sending and receiving from a Lightning wallet; you can withdraw 14 satoshis at a time, which is just over $0.004.
Do you wish social media was more rewarding? Well now it is. You can tip other people—and they can tip you—in Bitcoin using the Lightning Network. Simply integrateTippin.me, and it puts a little lightning symbol on every tweet.
You will need your own wallet to send tips (see above). All the cool kids are doing it, including Twitter co-founderJack Dorsey.
It’s hard to grasp something that involves thousands of little parts, making millions of interactions with each other. It’s a bit like trying to picture everything going on in your brain. So, to make this a bit easier, we have used a number of visual diagrams. This is what the Lightning Network looks like from above.
A great resource for Lightning Network data is1ML, a search and analysis engine. It provides data on which stores accept Lightning payments and information about current nodes. But it also features a spectacular visualization of the Lightning Network, showing all the nodes and how they are connected to one another. Check it out.
If that wasn’t trippy enough, here’s a3D viewof the Lightning Network you can explore. And if you want to dive even deeper inside the network, you can don VR glasses to get the full experience.
Thisvisualizationmakes the Lightning Network look like some kind of futuristic planet. This is the view from one person’s node. The larger the areas, the more Bitcoin in the Lightning channels. Interestingly, the large blue area on the right is called “DeutscheTestnetBank,” whomever that might be.
The Network faced its first major hijack on March 20, 2018, when adistributed denial of service attacktook down around 200 Lightning nodes, about 20% of the network at the time—the network struggled to process transactions. After preventative measures were put in place, it grew to reach a total of 7,000 nodes.
Since then, the Lightning Network has continued to grow. As of July 2023, there are about16,000 Lightning nodesand over 70,000 channels in operation. The total network capacity of the Lightning Network now sits at 3,815 BTC (or around $113.2 million at current values).
Each Lightning node is responsible for interacting with the others to help transact money, while the channels are essentially the highways that enable money to be moved between nodes on the network. The more nodes and channels there are, the easier it is for larger transactions to complete successfully.
The popularity of cryptocurrencies and transacting on them has, within just a few short years, put increasing stress on blockchains.
While there have been smaller changes—and in some casesforks—to help networks better cope with demand, the Lightning Network, if successful, could help open the door to widespread adoption of cryptocurrencies and their applications.
In August 2020, the Lightning Network was updated to include support for theWumbofunction. In the early days of Lightning, the developers limited how much Bitcoin could be kept inside a Lightning payment channel to 0.1677 BTC; Wumbo channels enable nodes to service larger transactions at higher volumes.
Robinhood to Use Lightning Network for Bitcoin Transactions
A growing number of crypto exchanges now support the Lightning Network, includingKraken, OKEx, Bitstamp and Bitfinex, as well as financial trading appRobinhood. However, two major exchanges,BinanceandCoinbase, have yet to introduce support.
And in El Salvador, which in June 2021 passed legislation tomake Bitcoin legal tender, vendors areusing Lightning Networkto facilitate small payments, while the state-sponsored Chivo wallet will alsointegrate Lightning Network. It's perhaps the first example of Bitcoin being used for widespread day-to-day transactions, and "the first deployment of Lightning at this scale," according to the co-founder of AlphaPoint, a developer working on the Chivo wallet.
Bitcoin's Lightning Labs Raises $70 Million, Announces Taro Stablecoin Protocol
In April 2022, Lightning Labsraised $70 millionto fund development of the Taro protocol, which will help to enablestablecointransactions on Lightning Network.
The Lightning Network is spreading beyond Bitcoin, too. Blockstream has created its own implementation of the Lightning Network calledc-Lightning, which is built in the C programming language, familiar to most developers.Litecoinhas its own version, too—the Litecoin Lightning Network—which is small compared to the Bitcoin version, but slowly growing.
For more on the Lightning Network, check out Jameson Lopp’s resources pagehere....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["Bitcoin fell Wednesday morning in Asia to trade below US$26,000. Ether also dropped to near the US$1,600 support level as all other top 10 non-stablecoin cryptocurrencies traded flat to lower. Solana’s SOL led the losers. The Forkast 500 NFT index declined, while a former manager at NFT marketplace OpenSea received jail time for insider trading. U.S. stock futures edged higher after Wall Street closed mixed on Tuesday. S&P Global Ratings joined the Moody’s ratings agency in downgrading a number of U.S. banks. New Bitcoin support level at US$25,000? Bitcoin dipped 0.71% in the last 24 hours to US$25,946.61 as of 07:20 a.m. in Hong Kong and lost 11.05% for the week, according to CoinMarketCap data. The world’s leading cryptocurrency has been trading around the US$26,000 mark this week following a near 10% slide last Friday. But it reached a 24-hour low of US$25,520.73 on early Wednesday morning. After the previous week’s nosedive, some crypto analysts are predicting further losses. Social media commentator Ali Martinez put the token’s new key support level at US$25,400 . Keith Alan, co-founder of analytics firm Material Indicators, put it as low as US$25,000 . Both Martinez and Alan said losing the key support level could drive the token to a new low in the US$20,000 range. “Bitcoin prices falling below a US$25,000 support level could be considered a bearish indicator, from a technical perspective, as it may signal a general uptrend reversal,” Wade Guenther, partner at U.S.-based asset management firm Wilshire Phoenix, said in an emailed comment. Meanwhile, Bitcoin’s technical indicators including the Relative Strength Index ( RSI ) and the Moving Average Convergence Divergence ( MACD ) suggest the token’s price could be oversold. “The 50-day moving average (MA) has begun to sharply diverge towards the 200-day MA. Generally, it could be considered a bearish signal if the 50-day MA crosses below the 200-day MA,” added Guenther. On the regulatory front, investors await a much-anticipated verdict in the lawsuit between Grayscale Investments and the U.S. Securities and Exchange Commission (SEC). Grayscale has applied for permission from the regulator to convert its Bitcoin trust product (GBTC) to a spot Bitcoin exchange-traded fund (ETF). However, the decision was delayed twice last week. That delay added to the delays of other Bitcoin applications. On Aug. 11 the SEC delayed its decision on the ETF application submitted by Cathie Wood’s Ark Invest. Elsewhere, decentralized finance (DeFi) platform Balancer reported Tuesday that it had detected a vulnerability affecting several of its liquidity pools. Story continues Balancer has received a critical vulnerability report affecting a number of V2 Pools. Emergency mitigation procedures have been executed to secure a majority of TVL, but some funds remain at risk. Users are advised to withdraw affected LPs immediately. https://t.co/PDzX32gqeS pic.twitter.com/F1f649Wz3L — Balancer (@Balancer) August 22, 2023 The company said it has introduced “emergency mitigation procedures” to secure user assets. An update on early Wednesday showed 1.4% of the total value locked (TVL) on Balancer was still at risk. That would amount to US$9.19 million, according to data from DefiLlama. Like Bitcoin, Ether posted losses. It fell 2.20% to US$1,631.18 for a 10.75% decline over the past seven days. Most other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. The exceptions included Tron’s TRX, which logged a gain of 0.20%. Solana’s SOL token led the losers, dropping 3.35% to US$20.54 and 13.78% for the week. Binance’s BNB token also posted losses. It dropped to a 14-month low of US$204.40 on early Wednesday evening after a Wall Street Journal report said the world’s leading crypto exchange helped Russian entities move money abroad after Russia invaded Ukraine — a violation of international sanctions. The company denied the claim, saying it follows global sanction rules on Russia. The report could prove damaging given Binance’s mounting regulatory challenges . The SEC sued the company in June for alleged securities violations. The total crypto market capitalization creeped closer to the psychologically important US$1 trillion level, dropping 1.46% in the past 24 hours to US$1.04 trillion. Trading volume rose 8.88% to US$31.95 billion. Ex-OpenSea exec sentenced to jail for insider trading The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index dipped 0.59% in the past 24 hours to 2,300.54 as of 10:20 a.m. in Hong Kong, falling 7.08% for the week. Forkast’s Ethereum, Solana and Cardano NFT indexes also logged losses, while the Polygon index remained flat. Total NFT trading volume rose 21.95% in the past 24 hours to US$15.22 million. Volumes on the Ethereum, Solana and Polygon blockchains logged increases, while Bitcoin and Cardano volumes dropped, according to data from CryptoSlam . With the average NFT sales price at US$36.11 — down over 50% from the start of July — NFT sellers posted a net loss of US$2.14 million in Tuesday’s trading. “(We are seeing) a continued loss of value across blockchains,” Yehudah Petscher, NFT strategist at Forkast Labs, said in a YouTube video posted Tuesday. “Total transactions and average sales price (on Monday) both almost a mirror image of Sunday, so you can see we are kind of stagnant right now,” Ethereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour sales volume for NFT collections. It rose 83.68% in the past 24 hours to US$3.01 million. Mythos Chain-based DMarket and Ethereum-based Mutant Ape Yacht Club placed second and third in the ranking. Nathaniel Chastain, a former product manager at NFT marketplace OpenSea, was sentenced by a U.S. district court to three months in jail Tuesday for insider trading. He was found guilty of fraud and money laundering in May for using confidential information about the platform to profit from NFT trades. Chastain’s case was the first-ever insider-trading case in the U.S. to involve digital assets. The former OpenSea executive bought and sold NFTs he knew would feature on OpenSea’s homepage and would, as a result, rise in price. The court found that he made over US$57,000 in profit from the trades. OpenSea itself is under fire for its announcement last week that it will stop enforcing creator royalties from August 31. The platform will still charge a 2.5% marketplace fee for all transactions. OpenSea’s decision received widespread criticism. Mark Cuban — a U.S. entrepreneur and investor in OpenSea — said the move is a “huge mistake” that “diminished trust in the platform and hurts the (NFT) industry.” Yuga Labs, the creator of hit NFT collection BAYC, said it would gradually wind down its presence on the OpenSea marketplace following the announcement. Given the significance of BAYC to the overall NFT market, that could spell bad news for OpenSea. “Yuga’s 30-day volume is 80% the size of OpenSea’s. This is the leverage that IP has over NFT Marketplaces,” Trevor Owens, chief executive officer at NFT intelligence platform Ninjalerts, tweeted on Saturday. Yuga's 30d volume is 80% the size of OpenSea's This is the leverage that IP has over NFT Marketplaces The NFT Marketplaces are dead without the most important IP Will this lead to walled garden marketplaces by IP owners? That's much more complicated, so I'm not sure.… pic.twitter.com/FHdWG99q07 — trevor.btc (@TO) August 19, 2023 Elsewhere, Web3 social media application Friend.tech renamed its “shares” to “keys” on Tuesday. Some analysts said the platform — which allows users to buy and trade the so-called “keys” to unlock gated Telegram-like chat rooms and other privileges — acted to avoid potential legal problems amid a spate of lawsuits brought by the SEC against digital asset firms. The switch from “shares” to “keys” was “probably to get around being called a security,” said Petscher. The question of whether digital assets such as cryptocurrencies and NFTs are securities is the source of much of the legal debate surrounding the industry. S&P joins Moody’s in downgrading US banks Image: Envato Elements U.S. stock futures were trading higher as of 12:30 p.m. in Hong Kong. The three major U.S. indexes closed mixed at the end of regular session trading Tuesday, with the S&P 500 and the Dow Jones Industrial Average logging losses and the Nasdaq Composite edging higher. Main stock indexes across Asia were mixed on Tuesday morning. China’s Shanghai Composite Index and South Korea’s Kospi dropped, while Hong Kong’s Hang Seng and Japan’s Nikkei moved higher. U.S. bank shares dropped Tuesday after financial intelligence corporation S&P Global downgraded the credit ratings of five U.S. banks on Monday citing “tough operating conditions.” “While many measures of asset quality still look benign, higher rates are pressuring borrowers,” S&P wrote in a report viewed by Bloomberg . “Banks with material exposures to commercial real estate, especially in office loans, could see some of the greatest strains.” The news followed a similar downgrade on ten banks by ratings firm Moody’s Investors Service two weeks earlier. Despite concerns in the banking sector, U.S. stock futures rose as investors await Nvidia’s second-quarter earning release on Wednesday. Analysts expect the AI chipmaker’s revenue to surpass its own forecast from three months ago. The company’s shares hit an all-time high of US$481.87 on Tuesday, but ended the day 2.77% down for the day. The U.S. Federal Reserve Chair Jerome Powell will give the opening speech at the Jackson Hole Economic Symposium on Friday. The Fed-held annual summit will be attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s future monetary policy. July’s strong U.S. economic data indicated that “the reacceleration scenario has come onto the table in a way that it really wasn’t three or four months ago,” Richmond Federal Reserve President Thomas Barkin told Reuters Tuesday. That could influence the Fed’s thinking on interest rates, he added. Powell “is unlikely to give direction on September, but he is likely to hint at elevated rates for longer to ensure that inflation has come down,” analysts at Canadian investment bank TD Securities told Reuters. The U.S. interest rate is now between 5.25% and 5.50%, the highest level in the past 22 years. The CME FedWatch Tool predicts a 15% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, down from 15.5% on Tuesday. Meanwhile in China, the country’s technology giant Baidu Inc. reported larger-than-expected annual revenue growth of 15% in its second-quarter earnings report released Tuesday. That figure is the company’s largest recorded increase in more than a year. The corporation is building itself into a leader in A.I. technology and introduced its latest generative A.I. model — Ernie 3.5 — in June 2023. “Generative AI and large language models hold immense transformative power in numerous industries, presenting a significant market opportunity for us,” Robin Li, co-founder and CEO of Baidu, said in a Tuesday press release. “By adopting an AI-native mindset, we are reinventing our products and offerings for innovative experiences, and to support various enterprises to capture this opportunity,” Li added. (Updates with equity section.) View comments", 'Bitcoin fell Wednesday morning in Asia to trade below US$26,000. Ether also dropped to near the US$1,600 support level as all other top 10 non-stablecoin cryptocurrencies traded flat to lower. Solana’s SOL led the losers. The Forkast 500 NFT index declined, while a former manager at NFT marketplace OpenSea received jail time for insider trading. U.S. stock futures edged higher after Wall Street closed mixed on Tuesday. S&P Global Ratings joined the Moody’s ratings agency in downgrading a number of U.S. banks.\nBitcoin dipped 0.71% in the last 24 hours to US$25,946.61 as of 07:20 a.m. in Hong Kong and lost 11.05% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency has been trading around the US$26,000 mark this week following a near 10% slide last Friday. But it reached a 24-hour low of US$25,520.73 on early Wednesday morning.\nAfter the previous week’s nosedive, some crypto analysts are predicting further losses. Social media commentator Ali Martinez put the token’s new key support level atUS$25,400. Keith Alan, co-founder of analytics firm Material Indicators, put it as low asUS$25,000. Both Martinez and Alan said losing the key support level could drive the token to a new low in the US$20,000 range.\n“Bitcoin prices falling below a US$25,000 support level could be considered a bearish indicator, from a technical perspective, as it may signal a general uptrend reversal,” Wade Guenther, partner at U.S.-based asset management firm Wilshire Phoenix, said in an emailed comment.\nMeanwhile, Bitcoin’s technical indicators including the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) suggest the token’s price could be oversold.\n“The 50-day moving average (MA) has begun to sharply diverge towards the 200-day MA. Generally, it could be considered a bearish signal if the 50-day MA crosses below the 200-day MA,” added Guenther.\nOn the regulatory front, investors await a much-anticipated verdict in the lawsuit between Grayscale Investments and the U.S. Securities and Exchange Commission (SEC). Grayscale has applied for permission from the regulator to convert its Bitcoin trust product (GBTC) to a spot Bitcoin exchange-traded fund (ETF). However, the decision wasdelayedtwice last week.\nThat delay added to the delays of other Bitcoin applications. OnAug. 11the SEC delayed its decision on the ETF application submitted by Cathie Wood’s Ark Invest.\nElsewhere, decentralized finance (DeFi) platform Balancer reported Tuesday that it had detected a vulnerability affecting several of its liquidity pools.\nThe company said it has introduced “emergency mitigation procedures” to secure user assets. An update on early Wednesday showed 1.4% of the total value locked (TVL) on Balancer was still at risk. That would amount to US$9.19 million, according todatafrom DefiLlama.\nLike Bitcoin, Ether posted losses. It fell 2.20% to US$1,631.18 for a 10.75% decline over the past seven days.\nMost other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. The exceptions included Tron’s TRX, which logged a gain of 0.20%. Solana’s SOL token led the losers, dropping 3.35% to US$20.54 and 13.78% for the week.\nBinance’s BNB token also posted losses. It dropped to a 14-month low of US$204.40 on early Wednesday evening after a Wall Street Journalreportsaid the world’s leading crypto exchange helped Russian entities move money abroad after Russia invaded Ukraine — a violation of international sanctions. The company denied the claim, saying it follows global sanction rules on Russia.\nThe report could prove damaging given Binance’s mountingregulatory challenges. The SECsuedthe company in June for alleged securities violations.\nThe total crypto market capitalization creeped closer to the psychologically important US$1 trillion level, dropping 1.46% in the past 24 hours to US$1.04 trillion. Trading volume rose 8.88% to US$31.95 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdipped 0.59% in the past 24 hours to 2,300.54 as of 10:20 a.m. in Hong Kong, falling 7.08% for the week. Forkast’s Ethereum, Solana and Cardano NFT indexes also logged losses, while the Polygon index remained flat.\nTotal NFT trading volume rose 21.95% in the past 24 hours to US$15.22 million. Volumes on the Ethereum, Solana and Polygon blockchains logged increases, while Bitcoin and Cardano volumes dropped, according to data fromCryptoSlam.\nWith the average NFT sales price at US$36.11 — down over 50% from the start of July — NFT sellers posted a net loss of US$2.14 million in Tuesday’s trading.\n“(We are seeing) a continued loss of value across blockchains,” Yehudah Petscher, NFT strategist at Forkast Labs,saidin a YouTube video posted Tuesday.\n“Total transactions and average sales price (on Monday) both almost a mirror image of Sunday, so you can see we are kind of stagnant right now,”\nEthereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour sales volume for NFT collections. It rose 83.68% in the past 24 hours to US$3.01 million. Mythos Chain-based DMarket and Ethereum-based Mutant Ape Yacht Club placed second and third in the ranking.\nNathaniel Chastain, a former product manager at NFT marketplace OpenSea, wassentencedby a U.S. district court to three months in jail Tuesday for insider trading. He wasfound guiltyof fraud and money laundering in May for using confidential information about the platform to profit from NFT trades.\nChastain’s case was the first-ever insider-trading case in the U.S. to involve digital assets. The former OpenSea executive bought and sold NFTs he knew would feature on OpenSea’s homepage and would, as a result, rise in price. The courtfoundthat he made over US$57,000 in profit from the trades.\nOpenSea itself is under fire for itsannouncementlast week that it will stop enforcing creator royalties from August 31. The platform will still charge a 2.5% marketplace fee for all transactions.\nOpenSea’s decision received widespread criticism. Mark Cuban — a U.S. entrepreneur and investor in OpenSea —saidthe move is a “huge mistake” that “diminished trust in the platform and hurts the (NFT) industry.”\nYuga Labs, the creator of hit NFT collection BAYC,saidit would gradually wind down its presence on the OpenSea marketplace following the announcement. Given the significance of BAYC to the overall NFT market, that could spell bad news for OpenSea.\n“Yuga’s 30-day volume is 80% the size of OpenSea’s. This is the leverage that IP has over NFT Marketplaces,” Trevor Owens, chief executive officer at NFT intelligence platform Ninjalerts, tweeted on Saturday.\nElsewhere, Web3 social media application Friend.techrenamedits “shares” to “keys” on Tuesday. Some analysts said the platform — which allows users to buy and trade the so-called “keys” to unlock gated Telegram-like chat rooms and other privileges — acted to avoid potential legal problems amid a spate of lawsuits brought by the SEC against digital asset firms.\nThe switch from “shares” to “keys” was “probably to get around being called a security,” said Petscher.\nThe question of whether digital assets such as cryptocurrencies and NFTs are securities is the source of much of the legal debate surrounding the industry.\nU.S. stock futures were trading higher as of 12:30 p.m. in Hong Kong. The three major U.S. indexes closed mixed at the end of regular session trading Tuesday, with the S&P 500 and the Dow Jones Industrial Average logging losses and the Nasdaq Composite edging higher.\nMain stock indexes across Asia were mixed on Tuesday morning. China’s Shanghai Composite Index and South Korea’s Kospi dropped, while Hong Kong’s Hang Seng and Japan’s Nikkei moved higher.\nU.S. bank sharesdroppedTuesday after financial intelligence corporation S&P Globaldowngradedthe credit ratings of five U.S. banks on Monday citing “tough operating conditions.”\n“While many measures of asset quality still look benign, higher rates are pressuring borrowers,” S&P wrote in a report viewed byBloomberg. “Banks with material exposures to commercial real estate, especially in office loans, could see some of the greatest strains.”\nThe news followed a similardowngradeon ten banks by ratings firm Moody’s Investors Service two weeks earlier.\nDespite concerns in the banking sector, U.S. stock futures rose as investors await Nvidia’s second-quarter earning release on Wednesday. Analystsexpectthe AI chipmaker’s revenue to surpass its own forecast from three months ago. The company’s shares hit an all-time high of US$481.87 on Tuesday, but ended the day 2.77% down for the day.\nThe U.S. Federal Reserve Chair Jerome Powell will give the opening speech at the Jackson Hole Economic Symposium on Friday. The Fed-held annual summit will be attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s future monetary policy.\nJuly’s strong U.S. economic data indicated that “the reacceleration scenario has come onto the table in a way that it really wasn’t three or four months ago,” Richmond Federal Reserve President Thomas BarkintoldReuters Tuesday. That could influence the Fed’s thinking on interest rates, he added.\nPowell “is unlikely to give direction on September, but he is likely to hint at elevated rates for longer to ensure that inflation has come down,” analysts at Canadian investment bank TD SecuritiestoldReuters.\nThe U.S. interest rate is now between 5.25% and 5.50%, the highest level in the past 22 years. TheCME FedWatch Toolpredicts a 15% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, down from 15.5% on Tuesday.\nMeanwhile in China, the country’s technology giant Baidu Inc.reportedlarger-than-expected annual revenue growth of 15% in its second-quarter earnings report released Tuesday. That figure is the company’s largest recorded increase in more than a year. The corporation is building itself into a leader in A.I. technology andintroducedits latest generative A.I. model — Ernie 3.5 — in June 2023.\n“Generative AI and large language models hold immense transformative power in numerous industries, presenting a significant market opportunity for us,” Robin Li, co-founder and CEO of Baidu,saidin a Tuesday press release.\n“By adopting an AI-native mindset, we are reinventing our products and offerings for innovative experiences, and to support various enterprises to capture this opportunity,” Li added.\n(Updates with equity section.)', 'Bitcoin fell Wednesday morning in Asia to trade below US$26,000. Ether also dropped to near the US$1,600 support level as all other top 10 non-stablecoin cryptocurrencies traded flat to lower. Solana’s SOL led the losers. The Forkast 500 NFT index declined, while a former manager at NFT marketplace OpenSea received jail time for insider trading. U.S. stock futures edged higher after Wall Street closed mixed on Tuesday. S&P Global Ratings joined the Moody’s ratings agency in downgrading a number of U.S. banks.\nBitcoin dipped 0.71% in the last 24 hours to US$25,946.61 as of 07:20 a.m. in Hong Kong and lost 11.05% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency has been trading around the US$26,000 mark this week following a near 10% slide last Friday. But it reached a 24-hour low of US$25,520.73 on early Wednesday morning.\nAfter the previous week’s nosedive, some crypto analysts are predicting further losses. Social media commentator Ali Martinez put the token’s new key support level atUS$25,400. Keith Alan, co-founder of analytics firm Material Indicators, put it as low asUS$25,000. Both Martinez and Alan said losing the key support level could drive the token to a new low in the US$20,000 range.\n“Bitcoin prices falling below a US$25,000 support level could be considered a bearish indicator, from a technical perspective, as it may signal a general uptrend reversal,” Wade Guenther, partner at U.S.-based asset management firm Wilshire Phoenix, said in an emailed comment.\nMeanwhile, Bitcoin’s technical indicators including the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) suggest the token’s price could be oversold.\n“The 50-day moving average (MA) has begun to sharply diverge towards the 200-day MA. Generally, it could be considered a bearish signal if the 50-day MA crosses below the 200-day MA,” added Guenther.\nOn the regulatory front, investors await a much-anticipated verdict in the lawsuit between Grayscale Investments and the U.S. Securities and Exchange Commission (SEC). Grayscale has applied for permission from the regulator to convert its Bitcoin trust product (GBTC) to a spot Bitcoin exchange-traded fund (ETF). However, the decision wasdelayedtwice last week.\nThat delay added to the delays of other Bitcoin applications. OnAug. 11the SEC delayed its decision on the ETF application submitted by Cathie Wood’s Ark Invest.\nElsewhere, decentralized finance (DeFi) platform Balancer reported Tuesday that it had detected a vulnerability affecting several of its liquidity pools.\nThe company said it has introduced “emergency mitigation procedures” to secure user assets. An update on early Wednesday showed 1.4% of the total value locked (TVL) on Balancer was still at risk. That would amount to US$9.19 million, according todatafrom DefiLlama.\nLike Bitcoin, Ether posted losses. It fell 2.20% to US$1,631.18 for a 10.75% decline over the past seven days.\nMost other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. The exceptions included Tron’s TRX, which logged a gain of 0.20%. Solana’s SOL token led the losers, dropping 3.35% to US$20.54 and 13.78% for the week.\nBinance’s BNB token also posted losses. It dropped to a 14-month low of US$204.40 on early Wednesday evening after a Wall Street Journalreportsaid the world’s leading crypto exchange helped Russian entities move money abroad after Russia invaded Ukraine — a violation of international sanctions. The company denied the claim, saying it follows global sanction rules on Russia.\nThe report could prove damaging given Binance’s mountingregulatory challenges. The SECsuedthe company in June for alleged securities violations.\nThe total crypto market capitalization creeped closer to the psychologically important US$1 trillion level, dropping 1.46% in the past 24 hours to US$1.04 trillion. Trading volume rose 8.88% to US$31.95 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdipped 0.59% in the past 24 hours to 2,300.54 as of 10:20 a.m. in Hong Kong, falling 7.08% for the week. Forkast’s Ethereum, Solana and Cardano NFT indexes also logged losses, while the Polygon index remained flat.\nTotal NFT trading volume rose 21.95% in the past 24 hours to US$15.22 million. Volumes on the Ethereum, Solana and Polygon blockchains logged increases, while Bitcoin and Cardano volumes dropped, according to data fromCryptoSlam.\nWith the average NFT sales price at US$36.11 — down over 50% from the start of July — NFT sellers posted a net loss of US$2.14 million in Tuesday’s trading.\n“(We are seeing) a continued loss of value across blockchains,” Yehudah Petscher, NFT strategist at Forkast Labs,saidin a YouTube video posted Tuesday.\n“Total transactions and average sales price (on Monday) both almost a mirror image of Sunday, so you can see we are kind of stagnant right now,”\nEthereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour sales volume for NFT collections. It rose 83.68% in the past 24 hours to US$3.01 million. Mythos Chain-based DMarket and Ethereum-based Mutant Ape Yacht Club placed second and third in the ranking.\nNathaniel Chastain, a former product manager at NFT marketplace OpenSea, wassentencedby a U.S. district court to three months in jail Tuesday for insider trading. He wasfound guiltyof fraud and money laundering in May for using confidential information about the platform to profit from NFT trades.\nChastain’s case was the first-ever insider-trading case in the U.S. to involve digital assets. The former OpenSea executive bought and sold NFTs he knew would feature on OpenSea’s homepage and would, as a result, rise in price. The courtfoundthat he made over US$57,000 in profit from the trades.\nOpenSea itself is under fire for itsannouncementlast week that it will stop enforcing creator royalties from August 31. The platform will still charge a 2.5% marketplace fee for all transactions.\nOpenSea’s decision received widespread criticism. Mark Cuban — a U.S. entrepreneur and investor in OpenSea —saidthe move is a “huge mistake” that “diminished trust in the platform and hurts the (NFT) industry.”\nYuga Labs, the creator of hit NFT collection BAYC,saidit would gradually wind down its presence on the OpenSea marketplace following the announcement. Given the significance of BAYC to the overall NFT market, that could spell bad news for OpenSea.\n“Yuga’s 30-day volume is 80% the size of OpenSea’s. This is the leverage that IP has over NFT Marketplaces,” Trevor Owens, chief executive officer at NFT intelligence platform Ninjalerts, tweeted on Saturday.\nElsewhere, Web3 social media application Friend.techrenamedits “shares” to “keys” on Tuesday. Some analysts said the platform — which allows users to buy and trade the so-called “keys” to unlock gated Telegram-like chat rooms and other privileges — acted to avoid potential legal problems amid a spate of lawsuits brought by the SEC against digital asset firms.\nThe switch from “shares” to “keys” was “probably to get around being called a security,” said Petscher.\nThe question of whether digital assets such as cryptocurrencies and NFTs are securities is the source of much of the legal debate surrounding the industry.\nU.S. stock futures were trading higher as of 12:30 p.m. in Hong Kong. The three major U.S. indexes closed mixed at the end of regular session trading Tuesday, with the S&P 500 and the Dow Jones Industrial Average logging losses and the Nasdaq Composite edging higher.\nMain stock indexes across Asia were mixed on Tuesday morning. China’s Shanghai Composite Index and South Korea’s Kospi dropped, while Hong Kong’s Hang Seng and Japan’s Nikkei moved higher.\nU.S. bank sharesdroppedTuesday after financial intelligence corporation S&P Globaldowngradedthe credit ratings of five U.S. banks on Monday citing “tough operating conditions.”\n“While many measures of asset quality still look benign, higher rates are pressuring borrowers,” S&P wrote in a report viewed byBloomberg. “Banks with material exposures to commercial real estate, especially in office loans, could see some of the greatest strains.”\nThe news followed a similardowngradeon ten banks by ratings firm Moody’s Investors Service two weeks earlier.\nDespite concerns in the banking sector, U.S. stock futures rose as investors await Nvidia’s second-quarter earning release on Wednesday. Analystsexpectthe AI chipmaker’s revenue to surpass its own forecast from three months ago. The company’s shares hit an all-time high of US$481.87 on Tuesday, but ended the day 2.77% down for the day.\nThe U.S. Federal Reserve Chair Jerome Powell will give the opening speech at the Jackson Hole Economic Symposium on Friday. The Fed-held annual summit will be attended by central bank leaders from across the world. Powell’s speech could provide insights into the Fed’s future monetary policy.\nJuly’s strong U.S. economic data indicated that “the reacceleration scenario has come onto the table in a way that it really wasn’t three or four months ago,” Richmond Federal Reserve President Thomas BarkintoldReuters Tuesday. That could influence the Fed’s thinking on interest rates, he added.\nPowell “is unlikely to give direction on September, but he is likely to hint at elevated rates for longer to ensure that inflation has come down,” analysts at Canadian investment bank TD SecuritiestoldReuters.\nThe U.S. interest rate is now between 5.25% and 5.50%, the highest level in the past 22 years. TheCME FedWatch Toolpredicts a 15% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, down from 15.5% on Tuesday.\nMeanwhile in China, the country’s technology giant Baidu Inc.reportedlarger-than-expected annual revenue growth of 15% in its second-quarter earnings report released Tuesday. That figure is the company’s largest recorded increase in more than a year. The corporation is building itself into a leader in A.I. technology andintroducedits latest generative A.I. model — Ernie 3.5 — in June 2023.\n“Generative AI and large language models hold immense transformative power in numerous industries, presenting a significant market opportunity for us,” Robin Li, co-founder and CEO of Baidu,saidin a Tuesday press release.\n“By adopting an AI-native mindset, we are reinventing our products and offerings for innovative experiences, and to support various enterprises to capture this opportunity,” Li added.\n(Updates with equity section.)', "• US stocks were mixed Tuesday after a brief rally in tech-related equities.\n• Nvidia fell after reaching an intra-day high of $481.87. Investors await its earnings report on Wednesday.\n• Friday's Jackson Hole central bank summit is further factoring into market sentiment this week.\nStocks closed mixed Tuesday as investors prepare forNvidia'searnings report this week and look beyond to the Federal Reserve's Jack Hole symposium.\nThe trillion-dollar chipmaker is set to release its financials on Wednesday, with observers betting that its results could reignite the AI rally of prior months.\nIn anticipation of this, the stock hit an intraday-high of $481.87, but has since climbed down. Of the S&P's top 10 equities, Nvidia is the only stock whose call options are eclipsing its put options,Bloombergnoted.\nOutside of the tech sector, analysts seem divided on the potential for further rally, with some market bearswarning of a stock slump and recession.\nAdding to potential market upside this week is the coming Jackson Hole Symposium on Friday, a central bank gathering where investors are betting dovish signals from the Federal Reserve.\nThat's as an earlier jump took the 10-year Treasury yield to its highest since 2007, though it has edged downward throughout the day on Tuesday. The surge brought interest rates back into the spotlight, giving central bank authorities some reason to tone down future monetary tightening, some Wall Street observers say.\nBut this is contrasted by pessimism around inflation, still ahead of the Fed's 2% target.\nHere's where US indexes stood shortly after the 4:00 ap.m. closing bell on Tuesday:\n• S&P 500: 4,387.65, down 0.28%\n• Dow Jones Industrial Average: 34,289.03, 0.51% (-174.66 points)\n• Nasdaq Composite: 13,505.87, up 0.06%\nHere's what else is going on today:\n• The housing market has become historically unaffordable. Here aretwo stats to see just how tight the sector is.\n• Legendary investor Jeremy Grantham's GMO islaunching its first ETF.\n• A Chinese economic crisis would have asurprisingly minimal impact on the US, Paul Krugman says.\n• Hasbro could rally 41%on recent Magic: The Gathering expansions and the success of Baldur's Gate 3, Bank of America said.\n• The BRICS development bank is looking to de-dollarize lending through local currency debt.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil inched down 0.6% to $80.25 a barrel.Brent, the international benchmark, fell 0.45% to $84.08 a barrel.\n• Goldclimbed 0.15% to $1,925.80 an ounce.\n• The yield on the 10-year Treasury edged lower to 4.334%.\n• Bitcoindeclined 0.67% to $26,069.\nRead the original article onBusiness Insider", "Jen-Hsun Huang, CEO of Nvidia Corp., gives a keynote presentation during the GPU Technology Conference in San Jose, California. Huang later unveiled the Titan X CPU operating with a GeForce GTX Titan X graphics card during the presentation. Kim Kulish/Corbis/Getty Images US stocks were mixed Tuesday after a brief rally in tech-related equities. Nvidia fell after reaching an intra-day high of $481.87. Investors await its earnings report on Wednesday. Friday's Jackson Hole central bank summit is further factoring into market sentiment this week. Stocks closed mixed Tuesday as investors prepare for Nvidia's earnings report this week and look beyond to the Federal Reserve's Jack Hole symposium. The trillion-dollar chipmaker is set to release its financials on Wednesday, with observers betting that its results could reignite the AI rally of prior months. In anticipation of this, the stock hit an intraday-high of $481.87, but has since climbed down. Of the S&P's top 10 equities, Nvidia is the only stock whose call options are eclipsing its put options, Bloomberg noted. Outside of the tech sector, analysts seem divided on the potential for further rally, with some market bears warning of a stock slump and recession . Adding to potential market upside this week is the coming Jackson Hole Symposium on Friday, a central bank gathering where investors are betting dovish signals from the Federal Reserve. That's as an earlier jump took the 10-year Treasury yield to its highest since 2007, though it has edged downward throughout the day on Tuesday. The surge brought interest rates back into the spotlight, giving central bank authorities some reason to tone down future monetary tightening, some Wall Street observers say. But this is contrasted by pessimism around inflation, still ahead of the Fed's 2% target. Here's where US indexes stood shortly after the 4:00 ap.m. closing bell on Tuesday: S&P 500 : 4,387.65, down 0.28% Dow Jones Industrial Average : 34,289.03, 0.51% (-174.66 points) Nasdaq Composite : 13,505.87, up 0.06% Here's what else is going on today: The housing market has become historically unaffordable. Here are two stats to see just how tight the sector is . Legendary investor Jeremy Grantham's GMO is launching its first ETF . A Chinese economic crisis would have a surprisingly minimal impact on the US , Paul Krugman says. Hasbro could rally 41% on recent Magic: The Gathering expansions and the success of Baldur's Gate 3, Bank of America said. The BRICS development bank is looking to d e-dollarize lending through local currency debt . Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil inched down 0.6% to $80.25 a barrel. Brent , the international benchmark, fell 0.45% to $84.08 a barrel. Gold climbed 0.15% to $1,925.80 an ounce. The yield on the 10-year Treasury edged lower to 4.334%. Bitcoin declined 0.67% to $26,069. Read the original article on Business Insider", 'Bitcoin ( BTC ) investors who plan to own the cryptocurrency for the shortest amounts of time – people who tend to be sensitive to quick moves in markets – are largely underwater following the recent price plunge, according to on-chain data. This is probably a headwind that could suppress rallies. The leading cryptocurrency by market value fell over 10% to $26,200 last week, its weekly worst performance since FTX fell apart in November. With the sell-off, 88.3% of the supply controlled by short-term holders, or entities with wallets that do not hold coins for more than 155 days, is now in an unprofitable position with unrealized losses, according to data tracked by Glassnode . In other words, of the 2.56 million bitcoin ($66.5 billion) held by short-term holders, around 2.26 million bitcoin have an acquisition cost higher than the going market rate. This tends to happen following "\'top heavy markets\' such as May 2021, Dec 2021, and again this week," Glassnode\'s weekly newsletter published on Monday said. The proportion of supply controlled by short-term holders, which is held at an unrealised loss has surged. (Glassnode) A top-heavy market is one that is likely to have a tough time chalking out gains – in this case, due to potential liquidation by short-term holders facing losses. That\'s already happening. Per Glassnode, more coins held short-term are flowing into exchanges – something known as loss dominance. Investors typically move coins from personal wallets to exchanges when intending to liquidate position or use them as margin in derivatives trading. "This week, we saw the largest loss dominance reading since the March sell-off to $19,800. This suggests that the [short-term] cohort are both largely underwater on their holdings and increasingly price sensitive," Glassnode noted. Ilan Solot, co-head of digital assets at Marex Solutions, said the unrealized losses of short-term holders are one of the critical problems for the market right now. "The real problem is the current fragile market set-up for BTC, because short-term holders are underwater in both price and narrative," Solot said in an email. "Almost 90% of short-term holders (< 155 days) are suffering unrealized losses, which often correlates with selling pressure," Solot added, explaining that the recent optimism around prospects for U.S. approval of spot bitcoin ETFs has shifted to “still decent odds of approval but delayed" amid rising bond yields and tighter liquidity conditions. We may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see our Ethics Policy .', 'Bitcoin ( BTC ) investors who plan to own the cryptocurrency for the shortest amounts of time – people who tend to be sensitive to quick moves in markets – are largely underwater following the recent price plunge, according to on-chain data. This is probably a headwind that could suppress rallies. The leading cryptocurrency by market value fell over 10% to $26,200 last week, its weekly worst performance since FTX fell apart in November. With the sell-off, 88.3% of the supply controlled by short-term holders, or entities with wallets that do not hold coins for more than 155 days, is now in an unprofitable position with unrealized losses, according to data tracked by Glassnode . In other words, of the 2.56 million bitcoin ($66.5 billion) held by short-term holders, around 2.26 million bitcoin have an acquisition cost higher than the going market rate. This tends to happen following "\'top heavy markets\' such as May 2021, Dec 2021, and again this week," Glassnode\'s weekly newsletter published on Monday said. The proportion of supply controlled by short-term holders, which is held at an unrealised loss has surged. (Glassnode) A top-heavy market is one that is likely to have a tough time chalking out gains – in this case, due to potential liquidation by short-term holders facing losses. That\'s already happening. Per Glassnode, more coins held short-term are flowing into exchanges – something known as loss dominance. Investors typically move coins from personal wallets to exchanges when intending to liquidate position or use them as margin in derivatives trading. "This week, we saw the largest loss dominance reading since the March sell-off to $19,800. This suggests that the [short-term] cohort are both largely underwater on their holdings and increasingly price sensitive," Glassnode noted. Ilan Solot, co-head of digital assets at Marex Solutions, said the unrealized losses of short-term holders are one of the critical problems for the market right now. "The real problem is the current fragile market set-up for BTC, because short-term holders are underwater in both price and narrative," Solot said in an email. "Almost 90% of short-term holders (< 155 days) are suffering unrealized losses, which often correlates with selling pressure," Solot added, explaining that the recent optimism around prospects for U.S. approval of spot bitcoin ETFs has shifted to “still decent odds of approval but delayed" amid rising bond yields and tighter liquidity conditions. We may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see our Ethics Policy .', 'Bitcoin ( BTC ) investors who plan to own the cryptocurrency for the shortest amounts of time – people who tend to be sensitive to quick moves in markets – are largely underwater following the recent price plunge, according to on-chain data. This is probably a headwind that could suppress rallies. The leading cryptocurrency by market value fell over 10% to $26,200 last week, its weekly worst performance since FTX fell apart in November. With the sell-off, 88.3% of the supply controlled by short-term holders, or entities with wallets that do not hold coins for more than 155 days, is now in an unprofitable position with unrealized losses, according to data tracked by Glassnode . In other words, of the 2.56 million bitcoin ($66.5 billion) held by short-term holders, around 2.26 million bitcoin have an acquisition cost higher than the going market rate. This tends to happen following "\'top heavy markets\' such as May 2021, Dec 2021, and again this week," Glassnode\'s weekly newsletter published on Monday said. The proportion of supply controlled by short-term holders, which is held at an unrealised loss has surged. (Glassnode) A top-heavy market is one that is likely to have a tough time chalking out gains – in this case, due to potential liquidation by short-term holders facing losses. That\'s already happening. Per Glassnode, more coins held short-term are flowing into exchanges – something known as loss dominance. Investors typically move coins from personal wallets to exchanges when intending to liquidate position or use them as margin in derivatives trading. "This week, we saw the largest loss dominance reading since the March sell-off to $19,800. This suggests that the [short-term] cohort are both largely underwater on their holdings and increasingly price sensitive," Glassnode noted. Ilan Solot, co-head of digital assets at Marex Solutions, said the unrealized losses of short-term holders are one of the critical problems for the market right now. "The real problem is the current fragile market set-up for BTC, because short-term holders are underwater in both price and narrative," Solot said in an email. "Almost 90% of short-term holders (< 155 days) are suffering unrealized losses, which often correlates with selling pressure," Solot added, explaining that the recent optimism around prospects for U.S. approval of spot bitcoin ETFs has shifted to “still decent odds of approval but delayed" amid rising bond yields and tighter liquidity conditions. We may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see our Ethics Policy .', "Real estate developer Srettha Thavisin has been appointed thenext Prime Minister of Thailandas the Pheu Thai takes control of the country after acontroversial election.\nPrior to a life in politics, Srettha was the CEO of real estate developer Sansiri which was an active participant in the country’s digital asset sector. In 2021, Sansiritook a 15% stakein Thailand-based digital asset service provider XSpring, which operates a crypto broker in conjunction withKrungthai Bankas well as a licensed ICO portal.\nA year later, Sansiri launched its “SiriHub Token” on XSpring, a REIT-like structure that providesdividends from Sansiri Campus, one of the company’s major developments.\nCentral to Srettha’s campaign has been a promise for a national ‘airdrop’,where every Thai citizen will receive 10,000 thai baht($300).\nThe 10,000 baht (THB) would be given to every Thai citizen 16 years and over, and can only be spent within four-kilometers of their home, a party spokespersonexplained to the Bangkok Post.\nThe airdrop will use a form of national token, not an existing digital asset or cryptocurrency. Vendors will be able to convert it to cash at designated banks.\nThis project has had its share of critics because of the sheer cost, estimated to be at 500 billion THB ($14.3 billion) and the use of blockchain technology when there are existing digital banking initiatives already in use in Thailand.\n“While I want to see an adoption of Blockchain here, using blockchain and tokens for this campaign is an overkill,” Udomsak Rakwongwan, the co-founder ofFWX.finance, a decentralized derivatives platform, told CoinDesk. “The majority of Thais are already using Paotang, a digital banking wallet tailored for government initiatives. This may be simpler and easier to implement compared with a potentially more complex blockchain.”\nUdomsak anticipates that the new administration will continue to put forward more lenient crypto regulation which will lead to a surge in Thai crypto projects.\n“Thailand's crypto landscape is evolving rapidly,” he says, pointing to Sansiri’s involvement with ICOs.\nAlthough Srettha likely sees little in common with Pita Limjaroenrat, the leader of Thailand’s Move Forward Party, whichwon the popular vote but failed to get their leader nominated as Prime Minister, the two politicians are both fans of crypto.\nAs CoinDesk reported in July, Pita, disclosed that he owns bitcoin (BTC), ether (ETH), Cardano (ADA) and BNB.\nAlthough his cumulative crypto holdings only amount to thousands of dollars, and form a small percentage of his wealth, it is notable that two major politicians in the country are HODLers.", 'Maple Finance , an on-chain, institutional credit marketplace that\'s aspiring to fill a gap left behind by the collapses of crypto lending heavyweights like BlockFi and Celsius , has its sights set on Asia as financial hubs like Hong Kong and Singapore provide more regulatory clarity around digital assets. Maple, which falls under the decentralized finance (DeFi) category, differs from centralized finance or CeFi platforms like BlockFi in that it allows lenders to see loan operations on the blockchain, promising to offer more transparency. Cumulatively, the three-year-old startup has issued $2.2 billion in loans, and currently it has around $50 million deposited on the platform. To fuel its expansion eastward, Maple recently closed a $5 million strategic investment from a group of crypto-focused investors. The round was led by BlockTower Capital and Tioga Capital, with participation from Cherry Ventures, Spartan Capital, GSR Ventures,
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-23
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $507,538,232,200
- Hash Rate: 392623891.9211836
- Transaction Count: 417822.0
- Unique Addresses: 652036.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.37
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: It was the court case the entire crypto industry was waiting for—the showdown between the Securities and Exchange Commission and Ripple, an early digital assets firm behind the popular XRP token. The SEC alleged that sales of XRP constituted offering unregistered securities, while Ripple defended its $25 billion market, chiding the SEC's lack of clear guidance. On Thursday, a federal judge agreed partly in favor of both parties, with Ripple—and the broader crypto industry—appearing the early victor. The existential question for the U.S. crypto sector has been whether the thousands of tokens, from Bitcoin and Ether to Dogecoin and Pepecoin, are securities—a financial term for an investment contract, which would require registration with the SEC. Crypto firms have argued that working with the agency is impossible under the current rules, while the SEC has accused nearly every token, with the clear exception of Bitcoin, as operating illegally. Ripple became an important trial balloon for the debate. In 2020, the SEC charged the company—founded in 2012 with the promise of disrupting the global payments network through its proprietary token, XRP—and two of its executives with raising over $1.3 billion through an unregistered digital asset securities offering. Unlike other subjects of SEC lawsuits, Ripple challenged the case, which has been litigated for the past three years in the Southern District of New York. The proceedings have enraptured the crypto industry, especially as the SEC has aggressively pursued other exchanges and projects for allegedly offering unregistered securities. A decision that found XRP was not a security could buoy other firms and weaken the SEC's torrent of lawsuits against the industry, while a total victory for the SEC would have proved disastrous and likely climbed its way to the Supreme Court. Even as the case progressed—including a dramatic release of emails from a previous SEC director that Ripple's lawyers said supported its "fair notice defense," which argues the agency has not provided sufficient information on its legal interpretations—some crypto participants worried that it could set back the industry. Unlike other projects, Ripple is unabashedly centralized (many other projects have argued their tokens are not securities because they are decentralized) and also sports a loyal, and often toxic, army of supporters called the XRP Army that openly bashes critics. The result, released on Thursday, is a mixed bag. The 34-page decision by Judge Analisa Torres found that institutional sales of XRP by Ripple did constitute unregistered securities. The institutional sales—written contracts arranged with buyers such as hedge funds—constituted around $728 million. More consequentially, Torres found that programmatic sales—sales from Ripple that occur on the open market, like exchanges—were not an investment contract and not a security. Story continues "Therefore," the judge wrote, "the vast majority of individuals who purchased XRP from digital asset exchanges did not invest their money in Ripple at all." Torres did not agree with Ripple fair notice defense—an argument employed by other firms in their SEC lawsuits, including Coinbase —writing that the Howey test for determining what constitutes an investment contract is a clear guideline. The question of whether Ripple's two executives—Brad Garlinghouse and Chris Larsen—aided and abetted the sale of XRP will go to trial, with Torres rejecting the SEC's motion for summary judgment. Crypto industry onlookers immediately hailed the decision as a victory for the sector, as many of the SEC's recent lawsuits have been against tokens sold on exchanges. With secondary sales on exchanges a step removed from programmatic sales—where the company engages trading algorithms to sell its tokens—the result will have widespread implications for the sector, although the judge did not address secondary market sales. XRP surged after the decision, rising some 30% at the time of publication. The SEC will likely appeal the decision. This story was originally featured on Fortune.com More from Fortune: 5 side hustles where you may earn over $20,000 per year—all while working from home Looking to make extra cash? This CD has a 5.15% APY right now Buying a house? Here's how much to save This is how much money you need to earn annually to comfortably buy a $600,000 home View comments...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['(Bloomberg) -- A surge in sales expected for Meituan may be a catalyst to its shares, which have outperformed peers as services spending turns out to be a rare bright spot amid deepening investor pessimism. Most Read from Bloomberg Citadel Vets 69,000 Intern Applicants to Find Next Math Geniuses Putin Agrees to Visit China in First Trip Since Arrest Warrant What to Do With a 45-Story Skyscraper and No Tenants S&P 500 Climbs 1% as Traders Dial Back Fed Wagers: Markets Wrap US Court Paves Way for Spot Bitcoin ETF in Grayscale Ruling The world’s largest meal delivery service is forecast to report a 32% surge in revenue for the second quarter later Thursday, its fastest growth since 2021, Bloomberg compiled data show. Such topline growth would beat Alibaba Group Holding Ltd.’s 14% increase and JD.com’s 7.6% rise reported earlier this month. Meituan’s shares have advanced more than 4% over the past month, versus declines in Alibaba, JD, and PDD Holdings Inc. Year to date, Meituan remains deep in the red, having lost about 25% amid concerns over intensifying competition. “Among its peers, Meituan should benefit the most from the surge in travel demand and dining out activities, with at least 30% of its profit this year coming from related business,” said Catherine Lim, an analyst at Bloomberg Intelligence. --With assistance from Akshay Chinchalkar. Most Read from Bloomberg Businessweek Nigeria’s Train to Nowhere Shows How Not to Build Public Transit The Next Wave of Scams Will Be Deepfake Video Calls From Your Boss Stock Pickers Never Had a Chance Against Hard Math of the Market Luxury Villas Rise in Palestinian Boomtown Built on Shaky Peace Lyme Disease Has Exploded, and a New Vaccine Is (Almost) Here ©2023 Bloomberg L.P.', '(Bloomberg) -- A surge in sales expected for Meituan may be a catalyst to its shares, which have outperformed peers as services spending turns out to be a rare bright spot amid deepening investor pessimism.\nMost Read from Bloomberg\n• Citadel Vets 69,000 Intern Applicants to Find Next Math Geniuses\n• Putin Agrees to Visit China in First Trip Since Arrest Warrant\n• What to Do With a 45-Story Skyscraper and No Tenants\n• S&P 500 Climbs 1% as Traders Dial Back Fed Wagers: Markets Wrap\n• US Court Paves Way for Spot Bitcoin ETF in Grayscale Ruling\nThe world’s largest meal delivery service is forecast to report a 32% surge in revenue for the second quarter later Thursday, its fastest growth since 2021, Bloomberg compiled data show. Such topline growth would beat Alibaba Group Holding Ltd.’s 14% increase and JD.com’s 7.6% rise reported earlier this month.\nMeituan’s shares have advanced more than 4% over the past month, versus declines in Alibaba, JD, and PDD Holdings Inc. Year to date, Meituan remains deep in the red, having lost about 25% amid concerns over intensifying competition.\n“Among its peers, Meituan should benefit the most from the surge in travel demand and dining out activities, with at least 30% of its profit this year coming from related business,” said Catherine Lim, an analyst at Bloomberg Intelligence.\n--With assistance from Akshay Chinchalkar.\nMost Read from Bloomberg Businessweek\n• Nigeria’s Train to Nowhere Shows How Not to Build Public Transit\n• The Next Wave of Scams Will Be Deepfake Video Calls From Your Boss\n• Stock Pickers Never Had a Chance Against Hard Math of the Market\n• Luxury Villas Rise in Palestinian Boomtown Built on Shaky Peace\n• Lyme Disease Has Exploded, and a New Vaccine Is (Almost) Here\n©2023 Bloomberg L.P.', '(Bloomberg) -- Nvidia Corp. acknowledged that the US may impose stronger restrictions on the sale of chips to China and warned that such a move will hurt American companies in the long term, reiterating a broadly held view among top chipmakers. Most Read from Bloomberg Putin Agrees to Visit China in First Trip Since Arrest Warrant Citadel Vets 69,000 Intern Applicants to Find Next Math Geniuses What to Do With a 45-Story Skyscraper and No Tenants US Court Paves Way for Spot Bitcoin ETF in Grayscale Ruling Stocks Up Most Since June as Fed Bets Sink Yields: Markets Wrap Nvidia Chief Financial Officer Colette Kress, speaking on a conference call with analysts late Wednesday, argued that existing curbs on the sale of AI chips and high-end components were already having the desired effect. The company is currently prohibited from offering its high-end graphics processing unit, or GPU, in the country \x97 though it sells a less powerful version of the chip in China. \x93Over the long term, restrictions prohibiting the sale of our data center GPUs to China, if implemented, will result in a permanent loss of an opportunity for the US industry to compete and lead in one of the world\x92s largest markets,\x94 Kress said following Nvidia\x92s earnings announcement. The finance chief said she was addressing reports on the potential for increased regulations \x93on our exports to China.\x94 Read More: How US and Allies Are Trying to Rein In China Tech In the more immediate term, though, stricter rules wouldn\x92t take a heavy toll on Nvidia\x92s finances, she said. \x93Given the strength of demand for our products worldwide, we do not anticipate that additional export restrictions on our data center GPUs, if adopted, would have an immediate material impact to our financial results,\x94 Kress said. Kress\x92s boss, Chief Executive Officer Jensen Huang, recently joined counterparts from Intel Corp. and Qualcomm Inc. in a visit to Washington to argue for a pause in escalations of export controls. The Biden administration says restrictions are needed to safeguard US national interests and prevent the advancement of China\x92s military. Story continues Bloomberg has reported that further restrictions are being considered that would limit Nvidia\x92s ability to ship to the Asian nation \x97 the biggest market for semiconductors. Read More: Huawei Building Secret Network for Chips, Trade Group Warns Nvidia, benefiting from an industrywide race toward artificial intelligence computing, delivered a third-straight sales forecast that surpassed Wall Street estimates Wednesday. That fueled a 6% share rally in late trading. The company gets about two-thirds of its sales from outside the US, though it doesn\x92t disclose revenue in China. The leading association of global chip companies, meanwhile, is warning that Huawei Technologies Co. is building a collection of secret semiconductor-fabrication facilities across China \x97 a shadow manufacturing network that would let the blacklisted company skirt US sanctions and further the nation\x92s technology ambitions \x97 Bloomberg News has reported. Most Read from Bloomberg Businessweek Nigeria\x92s Train to Nowhere Shows How Not to Build Public Transit The Next Wave of Scams Will Be Deepfake Video Calls From Your Boss Luxury Villas Are Going Up in a Palestinian Boomtown Built on Shaky Peace Stock Pickers Never Had a Chance Against Hard Math of the Market Lyme Disease Has Exploded, and a New Vaccine Is (Almost) Here ©2023 Bloomberg L.P.', '(Bloomberg) -- Nvidia Corp. acknowledged that the US may impose stronger restrictions on the sale of chips to China and warned that such a move will hurt American companies in the long term, reiterating a broadly held view among top chipmakers.\nMost Read from Bloomberg\n• Putin Agrees to Visit China in First Trip Since Arrest Warrant\n• Citadel Vets 69,000 Intern Applicants to Find Next Math Geniuses\n• What to Do With a 45-Story Skyscraper and No Tenants\n• US Court Paves Way for Spot Bitcoin ETF in Grayscale Ruling\n• Stocks Up Most Since June as Fed Bets Sink Yields: Markets Wrap\nNvidia Chief Financial Officer Colette Kress, speaking on a conference call with analysts late Wednesday, argued that existing curbs on the sale of AI chips and high-end components were already having the desired effect. The company is currently prohibited from offering its high-end graphics processing unit, or GPU, in the country — though it sells a less powerful version of the chip in China.\n“Over the long term, restrictions prohibiting the sale of our data center GPUs to China, if implemented, will result in a permanent loss of an opportunity for the US industry to compete and lead in one of the world’s largest markets,” Kress said following Nvidia’s earnings announcement. The finance chief said she was addressing reports on the potential for increased regulations “on our exports to China.”\nRead More: How US and Allies Are Trying to Rein In China Tech\nIn the more immediate term, though, stricter rules wouldn’t take a heavy toll on Nvidia’s finances, she said.\n“Given the strength of demand for our products worldwide, we do not anticipate that additional export restrictions on our data center GPUs, if adopted, would have an immediate material impact to our financial results,” Kress said.\nKress’s boss, Chief Executive Officer Jensen Huang, recently joined counterparts from Intel Corp. and Qualcomm Inc. in a visit to Washington to argue for a pause in escalations of export controls. The Biden administration says restrictions are needed to safeguard US national interests and prevent the advancement of China’s military.\nBloomberg has reported that further restrictions are being considered that would limit Nvidia’s ability to ship to the Asian nation — the biggest market for semiconductors.\nRead More: Huawei Building Secret Network for Chips, Trade Group Warns\nNvidia, benefiting from an industrywide race toward artificial intelligence computing, delivered a third-straight sales forecast that surpassed Wall Street estimates Wednesday. That fueled a 6% share rally in late trading. The company gets about two-thirds of its sales from outside the US, though it doesn’t disclose revenue in China.\nThe leading association of global chip companies, meanwhile, is warning that Huawei Technologies Co. is building a collection of secret semiconductor-fabrication facilities across China — a shadow manufacturing network that would let the blacklisted company skirt US sanctions and further the nation’s technology ambitions — Bloomberg News has reported.\nMost Read from Bloomberg Businessweek\n• Nigeria’s Train to Nowhere Shows How Not to Build Public Transit\n• The Next Wave of Scams Will Be Deepfake Video Calls From Your Boss\n• Luxury Villas Are Going Up in a Palestinian Boomtown Built on Shaky Peace\n• Stock Pickers Never Had a Chance Against Hard Math of the Market\n• Lyme Disease Has Exploded, and a New Vaccine Is (Almost) Here\n©2023 Bloomberg L.P.', '(Bloomberg) -- Grab Holdings Ltd. shares jumped 11% after the company brought forward its profitability target and posted a narrower quarterly loss, buoyed by extensive cost cuts at the Southeast Asian ride-hailing and food-delivery provider.\nMost Read from Bloomberg\n• Putin Agrees to Visit China in First Trip Since Arrest Warrant\n• Citadel Vets 69,000 Intern Applicants to Find Next Math Geniuses\n• What to Do With a 45-Story Skyscraper and No Tenants\n• US Court Paves Way for Spot Bitcoin ETF in Grayscale Ruling\n• Stocks Up Most Since June as Fed Bets Sink Yields: Markets Wrap\nThe stock had its biggest gain in three months in New York after Grab said on Wednesday it expects to break even in the third quarter, rather than the fourth quarter as previously projected. Second-quarter adjusted losses narrowed more than analysts had predicted, and sales topped estimates.\nGrab has grown rapidly since its founding in 2012, but losses mounted as it spent on expansion and luring customers amid intense competition from rivals such as GoTo Group and Sea Ltd. A recent focus on cost curbs — including more than 1,000 job cuts in June — has brought the Singapore-based company on the brink of profitability for the first time.\nThe results are “a clean and solid beat especially on improving momentum in mobility and delivery,” analysts at Citigroup said in a note. The outlook reflects “effective cost control and clear execution direction.”\nGrab said its adjusted full-year loss before interest, taxes, depreciation and amortization will be $30 million to $40 million, rather than the loss of $195 million to $235 million it forecast in May. Loss on that basis shrank to $20 million in the second quarter, versus analysts’ average estimate for a loss of $64.6 million.\nRevenue rose 77% to $567 million, dispelling some fears that rising inflation and a gloomy economic outlook would damp customer spending.\nGrab is among Southeast Asian internet giants that are treading a fine balance between spending on growth and focusing on profitability. Investors rewarded GoTo last week after it cut its 2023 loss projection, while punishing Sea after it reported disappointing revenue and outlined plans to increase investment in e-commerce.\nWhile Grab leads Southeast Asia’s ride-hailing and delivery markets, it’s remained on the red as it spends on growth and competition from rivals such as Indonesia’s GoTo weighs on prices. Shares of Grab, which had been one of Southeast Asia’s hottest startups, have struggled since it went public via a merger with a US blank-check company less than two years ago.\nGrab said in June it’s cutting more than 1,000 jobs in its biggest round of layoffs since the pandemic, in a sign of growing pressure from investors for the internet firm to slash expenses further. Rivals Sea and GoTo eliminated thousands of jobs last year.\nGrab’s gross merchandise value, or the total value of goods and services it provides, grew 4% to $5.24 billion in the second quarter. While that’s down from double-digit rates in the past years, growth accelerated from 3% pace in the previous quarter.\nUsers of the company’s subscription program, GrabUnlimited, rose by 43% from a year earlier. Subscribers spent 3.8 times more on food orders than other users, accounting for almost a third of Grab’s deliveries GMV.\nWhat Bloomberg Intelligence Says:\nGrab pulling forward its breakeven goal to 3Q from 4Q, along with 2Q revenue and adjusted Ebitda that were 4% and 70% above consensus, underscores the potential of GrabUnlimited. These subscribers generate average spending 3x that of non-subscribers and could deliver a $50-$90 million boost to the 2023 bottom line, we believe.\n-Nathan Naidu, analyst\nClick here for research\nChief Executive Office Anthony Tan has said the job reductions weren’t a “shortcut to profitability.” He’s said the company was on track become profitable even without the cuts.\nMost Read from Bloomberg Businessweek\n• Nigeria’s Train to Nowhere Shows How Not to Build Public Transit\n• The Next Wave of Scams Will Be Deepfake Video Calls From Your Boss\n• Luxury Villas Are Going Up in a Palestinian Boomtown Built on Shaky Peace\n• Stock Pickers Never Had a Chance Against Hard Math of the Market\n• Lyme Disease Has Exploded, and a New Vaccine Is (Almost) Here\n©2023 Bloomberg L.P.', '(Bloomberg) -- Grab Holdings Ltd. shares jumped 11% after the company brought forward its profitability target and posted a narrower quarterly loss, buoyed by extensive cost cuts at the Southeast Asian ride-hailing and food-delivery provider. Most Read from Bloomberg Putin Agrees to Visit China in First Trip Since Arrest Warrant Citadel Vets 69,000 Intern Applicants to Find Next Math Geniuses What to Do With a 45-Story Skyscraper and No Tenants US Court Paves Way for Spot Bitcoin ETF in Grayscale Ruling Stocks Up Most Since June as Fed Bets Sink Yields: Markets Wrap The stock had its biggest gain in three months in New York after Grab said on Wednesday it expects to break even in the third quarter, rather than the fourth quarter as previously projected. Second-quarter adjusted losses narrowed more than analysts had predicted, and sales topped estimates. Grab has grown rapidly since its founding in 2012, but losses mounted as it spent on expansion and luring customers amid intense competition from rivals such as GoTo Group and Sea Ltd. A recent focus on cost curbs \x97 including more than 1,000 job cuts in June \x97 has brought the Singapore-based company on the brink of profitability for the first time. The results are \x93a clean and solid beat especially on improving momentum in mobility and delivery,\x94 analysts at Citigroup said in a note. The outlook reflects \x93effective cost control and clear execution direction.\x94 Grab said its adjusted full-year loss before interest, taxes, depreciation and amortization will be $30 million to $40 million, rather than the loss of $195 million to $235 million it forecast in May. Loss on that basis shrank to $20 million in the second quarter, versus analysts\x92 average estimate for a loss of $64.6 million. Revenue rose 77% to $567 million, dispelling some fears that rising inflation and a gloomy economic outlook would damp customer spending. Grab is among Southeast Asian internet giants that are treading a fine balance between spending on growth and focusing on profitability. Investors rewarded GoTo last week after it cut its 2023 loss projection, while punishing Sea after it reported disappointing revenue and outlined plans to increase investment in e-commerce. Story continues While Grab leads Southeast Asia\x92s ride-hailing and delivery markets, it\x92s remained on the red as it spends on growth and competition from rivals such as Indonesia\x92s GoTo weighs on prices. Shares of Grab, which had been one of Southeast Asia\x92s hottest startups, have struggled since it went public via a merger with a US blank-check company less than two years ago. Grab said in June it\x92s cutting more than 1,000 jobs in its biggest round of layoffs since the pandemic, in a sign of growing pressure from investors for the internet firm to slash expenses further. Rivals Sea and GoTo eliminated thousands of jobs last year. Grab\x92s gross merchandise value, or the total value of goods and services it provides, grew 4% to $5.24 billion in the second quarter. While that\x92s down from double-digit rates in the past years, growth accelerated from 3% pace in the previous quarter. Users of the company\x92s subscription program, GrabUnlimited, rose by 43% from a year earlier. Subscribers spent 3.8 times more on food orders than other users, accounting for almost a third of Grab\x92s deliveries GMV. What Bloomberg Intelligence Says: Grab pulling forward its breakeven goal to 3Q from 4Q, along with 2Q revenue and adjusted Ebitda that were 4% and 70% above consensus, underscores the potential of GrabUnlimited. These subscribers generate average spending 3x that of non-subscribers and could deliver a $50-$90 million boost to the 2023 bottom line, we believe. -Nathan Naidu, analyst Click here for research Chief Executive Office Anthony Tan has said the job reductions weren\x92t a \x93shortcut to profitability.\x94 He\x92s said the company was on track become profitable even without the cuts. Most Read from Bloomberg Businessweek Nigeria\x92s Train to Nowhere Shows How Not to Build Public Transit The Next Wave of Scams Will Be Deepfake Video Calls From Your Boss Luxury Villas Are Going Up in a Palestinian Boomtown Built on Shaky Peace Stock Pickers Never Had a Chance Against Hard Math of the Market Lyme Disease Has Exploded, and a New Vaccine Is (Almost) Here ©2023 Bloomberg L.P.', "Bitcoin rose on Thursday morning in Asia to trade in the US$26,500 range. The token logged its biggest one-day increase for the past six weeks on Wednesday, making up some of the losses from last week’s nosedive.\xa0Ether also moved up to challenge the US$1,700 resistance level, while all other top 10 non-stablecoin cryptocurrencies traded higher. The rise across cryptocurrencies mirrored a rally in the U.S. equity market on Thursday. S&P Global’s purchasing manager’s index for August showed a slowdown in the U.S. economy, mitigating inflation and rate hike concerns. Solana’s SOL led the crypto winners after Solana Pay announced a partnership with Shopify to allow USDC payments on the e-commerce platform. The Forkast 500 NFT index fell as OpenSea’s decision to stop enforcing creator royalties continues to impact the market. Meanwhile, U.S. AI chipmaker Nvidia released a better-than-expected earnings report which drove a 6% rise in the firm’s shares and a boost for U.S. equities. Cryptos benefit from Wall Street gains Bitcoin rose 2.23% in the last 24 hours to US$26,510.04 as of 07:20 a.m. in Hong Kong, but lost 8.11% for the week, according to CoinMarketCap data. The world’s leading cryptocurrency reached a seven-day high of US$26,786.90 on Wednesday, a jump of over 3.7% from its daily low of US$25,806.99. The rise in Bitcoin came on the back of a Wall Street rally. The S&P 500 and Nasdaq Composite posted gains of more than 1% at close of trading Wednesday. That followed the release of S&P Global’s flash U.S. Composite PMI index — a measurement of economic activity in both the manufacturing and service sectors. The index showed that economic growth in August was close to stalling. Investors were hopeful that a slowdown in consumer spending could lead the U.S. Federal Reserve to pause its cycle of interest rate increases — good news for the crypto market playing out in today’s price increases. CoinGlass data showed total Bitcoin liquidations at US$39.08 million over the past 24 hours. That included US$9.65 million of long positions — positions where investors bet the cryptocurrency price will rise. It was the first time since August 20 that liquidations on Bitcoin short positions — which totaled US$29.43\xa0 — surpassed long position liquidations, indicating an improvement in investor sentiment. Like Bitcoin, Ether gained. It rose 3.04% to US$1,681.25 but was still down 7.06% over the past seven days. Bitstamp, a Europe-based crypto exchange, revealed Wednesday it will stop providing Ether staking services to U.S. customers from September 25, citing “current regulatory dynamics” in the country. The exchange previously announced it would suspend trades of seven cryptocurrencies declared securities by the U.S. Securitees and Exchange Commission (SEC) from August 27. Story continues All other top 10 non-stablecoin cryptocurrencies traded higher over the past 24 hours. Solana’s SOL token led the winners, jumping 5.35% to US$21.61. But it was still down 5.23% for the week. Solana Pay, a free-to-use payment protocol built on the Solana blockchain, announced a partnership with Canada-based e-commerce platform Shopify on Wednesday. The partnership will allow Solana Pay users to use USDC stablecoin for online shopping without intermediary fees. The protocol will also consider adding other payment options such as SOL and BOND in the future, TechCrunch reported on Wednesday. The total crypto market capitalization rebounded 2.53% to US$1.07 trillion. Trading volume rose 10.71% to US$35.37 billion. NFT market not at rock bottom yet The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index dropped 1.11% over the past 24 hours to 2,271.35 as of 10:30 a.m. in Hong Kong, down 7.48% for the week. Forkast’s Ethereum and Cardano NFT indexes also logged losses, while the Solana and Polygon indexes moved up. The Forkast 500 has posted a loss of 44.87% since the start of the year. But the index still has room to fall, Forkast Labs NFT strategist Yehudah Petscher said in a video posted to YouTube Wednesday. “Last year from the start of the year to the end of the year, the market lost over 75% of its value, meaning we have much further to fall. Possibly a 30% (drop) or more,” Petscher said. However, all is not lost, as rising transactions indicate the potential for industry growth. “NFTs are dead? Someone’s lying to you,” Petscher tweeted on Wednesday. “Total sales are similar to early/mid 2021 levels, but the number of buyers/sellers are near 2022 levels. Transactions hit an all-time high too with 3,701,251 last week.” NFTs are dead? Someone's lying to you. Here is the most important NFT chart that nobody's talking about yet. Prices are down but traders haven't left at all. Total sales are similar to early/mid 2021 levels, but the number of buyers/sellers are near 2022 levels. Transactions… pic.twitter.com/firjqSxJiE — hudah.eth|tez (@Hudah_Idiot) August 23, 2023 Total NFT trading volume dropped 11.20% in the past 24 hours to US$12.92 million. Volumes on the Ethereum and Polygon blockchains dropped, while Solana, Bitcoin and Cardano volumes edged up, according to data from CryptoSlam . “Overall the OpenSea royalty policy is still having an impact on the market. Transactions have been declining, total sales are down and average sales price is up,” said Petscher. “The higher average sales price lately indicates expensive NFTs being sold, but these are typically at a loss these days,” he added. OpenSea, one of the world’s leading NFT marketplaces, announced last week it would stop enforcing royalties — a major source of income for NFT creators — from Aug. 31. In response to the OpenSea announcement, rival NFT marketplace Rarible said on Wednesday it will continue supporting royalties. It will also stop aggregating orders from the OpenSea, LooksRare and X2Y2 marketplaces, all of which have stopped enforcing royalties. “Decentralization offers the opportunity to dispel the stigma of the ‘starving artist,’ and enable the continued growth of projects through true ownership and ongoing earnings,” said Alex Salnikov, co-founder of Rarible, in a statement posted on Twitter. “We stand in solidarity with creators and artists. That’s why we will no longer support marketplaces that neglect royalties,” he added After the announcement, Rarible experienced a 310.85% surge in 24-hour trading volume to US$34,000 as of 11:00 a.m. in Hong Kong. That’s still only a fraction of OpenSea’s 24-hour volume of US$2.19 million — a 8.82% drop, according to DappRadar data. “I don’t think it moves the needle one way or another, but now it’s time for collectors and creators to put their money where their mouth is,” said Petscher in Wednesday’s YouTube video. “If creators feel strongly that royalties are necessary, they are gonna mint on Rarible, they are gonna partner with Rarible. And the same goes to collectors,” he said. Ethereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour sales volume for NFT collections. It fell 50.91%% in the past 24 hours to US$1.34 million. Mythos Chain-based DMarket and Ethereum-based Sorare placed second and third in the ranking. Nvidia gives global equities a boost Image: Getty Images U.S. stock futures were trading higher as of 11:40 a.m. in Hong Kong with the tech-heavy Nasdaq posting a 1.30% gain. The three major U.S. indexes closed higher at the end of regular session trading Tuesday. Main stock indexes across Asia also went higher on Thursday morning. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged gains. Financial intelligence corporation S&P Global released its flash U.S. composite PMI index on Wednesday. The index dropped from 52.0 in July to 50.4 in August — the weakest upturn in economic activities since February 2023. “A near-stalling of business activity in August raises doubts over the strength of US economic growth in the third quarter,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in Wednesday’s report. “The survey shows that the service sector-led acceleration of growth in the second quarter has faded, accompanied by a further fall in factory output,” he added. Meanwhile, the flash composite PMI index in the euro zone fell from 48.6 in July to 47.0 in August. That’s the lowest reading since November 2020, according to the Hamburg Commercial Bank on Wednesday. “In reaction to the (PMI) data, government bond yields have fallen sharply across the board, including at the front end due to stronger expectations that the ECB and Fed are now more likely to keep rates unchanged,” Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz, tweeted on Wednesday. Weak PMIs, especially in #Europe , push yields lower and raise expectations of unchanged central bank policy rates: Led by #Germany , the #Eurozone 's PMI fell to 47 (from 48.6) with, services (48.3) contracting for the first time this year while manufacturing (43.7) remained… — Mohamed A. El-Erian (@elerianm) August 23, 2023 The U.S. interest rate is now between 5.25% and 5.50%, the highest level in the past 22 years. The CME FedWatch Tool predicts a 13.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, down from 15% on Wednesday. To receive further insights into the Fed’s future monetary policies, investors await Fed Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. Central bank leaders from across the world will attend the Fed-held annual summit. Elsewhere, U.S. AI chipmaker Nvidia reported second-quarter revenue of US$13.51 billion on Wednesday, an annual jump of over 100%. The firm also forecast revenue of US$16 billion for the three months to the end of October, higher than the analysts’ expectation of US$12.5 billion. The share price of Nvidia closed 3.17% higher on Wednesday, and reached an all-time high of over US$517 in extended trading on Thursday morning in Asia. “(Nvidia’s results show) that betting on AI is paying off today,” Thomas Monteiro, senior analyst at financial website Investing.com, told Bloomberg. “This is a big deal because it validates the narrative that has been propping tech stocks in general this year.” In Asia, South Korea’s central bank kept its base rate unchanged at 3.50% on Thursday. The country’s annual inflation rate sits at a two-year low of 2.26%. (Updates with equity section.) View comments", 'Bitcoin rose on Thursday morning in Asia to trade in the US$26,500 range. The token logged its biggest one-day increase for the past six weeks on Wednesday, making up some of the losses from last week’s nosedive.\xa0Ether also moved up to challenge the US$1,700 resistance level, while all other top 10 non-stablecoin cryptocurrencies traded higher. The rise across cryptocurrencies mirrored a rally in the U.S. equity market on Thursday. S&P Global’s purchasing manager’s index for August showed a slowdown in the U.S. economy, mitigating inflation and rate hike concerns.\nSolana’s SOL led the crypto winners after Solana Pay announced a partnership with Shopify to allow USDC payments on the e-commerce platform. The Forkast 500 NFT index fell as OpenSea’s decision to stop enforcing creator royalties continues to impact the market. Meanwhile, U.S. AI chipmaker Nvidia released a better-than-expected earnings report which drove a 6% rise in the firm’s shares and a boost for U.S. equities.\nBitcoin rose 2.23% in the last 24 hours to US$26,510.04 as of 07:20 a.m. in Hong Kong, but lost 8.11% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency reached a seven-day high of US$26,786.90 on Wednesday, a jump of over 3.7% from its daily low of US$25,806.99.\nThe rise in Bitcoin came on the back of a Wall Street rally. The S&P 500 and Nasdaq Composite posted gains of more than 1% at close of trading Wednesday. That followed the release of S&P Global’s flash U.S. Composite PMI index — a measurement of economic activity in both the manufacturing and service sectors.\nThe indexshowedthat economic growth in August was close to stalling. Investors werehopefulthat a slowdown in consumer spending could lead the U.S. Federal Reserve to pause its cycle of interest rate increases — good news for the crypto market playing out in today’s price increases.\nCoinGlassdata showed total Bitcoin liquidations at US$39.08 million over the past 24 hours. That included US$9.65 million of long positions — positions where investors bet the cryptocurrency price will rise.\nIt was the first time since August 20 that liquidations on Bitcoin short positions — which totaled US$29.43\xa0 — surpassed long position liquidations, indicating an improvement in investor sentiment.\nLike Bitcoin, Ether gained. It rose 3.04% to US$1,681.25 but was still down 7.06% over the past seven days.\nBitstamp, a Europe-based crypto exchange,revealedWednesday it will stop providing Ether staking services to U.S. customers from September 25, citing “current regulatory dynamics” in the country. The exchange previouslyannouncedit would suspend trades of seven cryptocurrencies declared securities by the U.S. Securitees and Exchange Commission (SEC) from August 27.\nAll other top 10 non-stablecoin cryptocurrencies traded higher over the past 24 hours. Solana’s SOL token led the winners, jumping 5.35% to US$21.61. But it was still down 5.23% for the week.\nSolana Pay, a free-to-use payment protocol built on the Solana blockchain,announceda partnership with Canada-based e-commerce platform Shopify on Wednesday. The partnership will allow Solana Pay users to use USDC stablecoin for online shopping without intermediary fees. The protocol will also consider adding other payment options such as SOL and BOND in the future, TechCrunchreportedon Wednesday.\nThe total crypto market capitalization rebounded 2.53% to US$1.07 trillion. Trading volume rose 10.71% to US$35.37 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdropped 1.11% over the past 24 hours to 2,271.35 as of 10:30 a.m. in Hong Kong, down 7.48% for the week. Forkast’s Ethereum and Cardano NFT indexes also logged losses, while the Solana and Polygon indexes moved up.\nThe Forkast 500 has posted a loss of 44.87% since the start of the year. But the index still has room to fall, Forkast Labs NFT strategist Yehudah Petscher said in avideoposted to YouTube Wednesday.\n“Last year from the start of the year to the end of the year, the market lost over 75% of its value, meaning we have much further to fall. Possibly a 30% (drop) or more,” Petscher said.\nHowever, all is not lost, as rising transactions indicate the potential for industry growth.\n“NFTs are dead? Someone’s lying to you,” Petscher tweeted on Wednesday. “Total sales are similar to early/mid 2021 levels, but the number of buyers/sellers are near 2022 levels. Transactions hit an all-time high too with 3,701,251 last week.”\nTotal NFT trading volume dropped 11.20% in the past 24 hours to US$12.92 million. Volumes on the Ethereum and Polygon blockchains dropped, while Solana, Bitcoin and Cardano volumes edged up, according to data fromCryptoSlam.\n“Overall the OpenSea royalty policy is still having an impact on the market. Transactions have been declining, total sales are down and average sales price is up,” said Petscher.\n“The higher average sales price lately indicates expensive NFTs being sold, but these are typically at a loss these days,” he added.\nOpenSea, one of the world’s leading NFT marketplaces,announcedlast week it would stop enforcing royalties — a major source of income for NFT creators — from Aug. 31.\nIn response to the OpenSea announcement, rival NFT marketplace Rarible said on Wednesday it will continue supporting royalties. It will also stop aggregating orders from the OpenSea, LooksRare and X2Y2 marketplaces, all of which have stopped enforcing royalties.\n“Decentralization offers the opportunity to dispel the stigma of the ‘starving artist,’ and enable the continued growth of projects through true ownership and ongoing earnings,” said Alex Salnikov, co-founder of Rarible, in astatementposted on Twitter.\n“We stand in solidarity with creators and artists. That’s why we will no longer support marketplaces that neglect royalties,” he added\nAfter the announcement, Rarible experienced a 310.85% surge in 24-hour trading volume to US$34,000 as of 11:00 a.m. in Hong Kong. That’s still only a fraction of OpenSea’s 24-hour volume of US$2.19 million — a 8.82% drop, according toDappRadardata.\n“I don’t think it moves the needle one way or another, but now it’s time for collectors and creators to put their money where their mouth is,” said Petscher in Wednesday’s YouTube video.\n“If creators feel strongly that royalties are necessary, they are gonna mint on Rarible, they are gonna partner with Rarible. And the same goes to collectors,” he said.\nEthereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour sales volume for NFT collections. It fell 50.91%% in the past 24 hours to US$1.34 million. Mythos Chain-based DMarket and Ethereum-based Sorare placed second and third in the ranking.\nU.S. stock futures were trading higher as of 11:40 a.m. in Hong Kong with the tech-heavy Nasdaq posting a 1.30% gain. The three major U.S. indexes closed higher at the end of regular session trading Tuesday.\nMain stock indexes across Asia also went higher on Thursday morning. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged gains.\nFinancial intelligence corporation S&P Global released its flash U.S. composite PMI index on Wednesday. The index dropped from 52.0 in July to 50.4 in August — the weakest upturn in economic activities since February 2023.\n“A near-stalling of business activity in August raises doubts over the strength of US economic growth in the third quarter,” Chris Williamson, chief business economist at S&P Global Market Intelligence,saidin Wednesday’s report.\n“The survey shows that the service sector-led acceleration of growth in the second quarter has faded, accompanied by a further fall in factory output,” he added.\nMeanwhile, the flash composite PMI index in the euro zone fell from 48.6 in July to 47.0 in August. That’s the lowest reading since November 2020, according to theHamburg Commercial Bankon Wednesday.\n“In reaction to the (PMI) data, government bond yields have fallen sharply across the board, including at the front end due to stronger expectations that the ECB and Fed are now more likely to keep rates unchanged,” Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz,tweetedon Wednesday.\nThe U.S. interest rate is now between 5.25% and 5.50%, the highest level in the past 22 years. TheCME FedWatch Toolpredicts a 13.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, down from 15% on Wednesday.\nTo receive further insights into the Fed’s future monetary policies, investors await Fed Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. Central bank leaders from across the world will attend the Fed-held annual summit.\nElsewhere, U.S. AI chipmaker Nvidiareportedsecond-quarter revenue of US$13.51 billion on Wednesday, an annual jump of over 100%. The firm also forecast revenue of US$16 billion for the three months to the end of October, higher than the analysts’expectationof US$12.5 billion.\nThe share price of Nvidia closed 3.17% higher on Wednesday, and reached an all-time high of over US$517 in extended trading on Thursday morning in Asia.\n“(Nvidia’s results show) that betting on AI is paying off today,” Thomas Monteiro, senior analyst at financial website Investing.com,toldBloomberg. “This is a big deal because it validates the narrative that has been propping tech stocks in general this year.”\nIn Asia, South Korea’s central bank kept its base rate unchanged at 3.50% on Thursday. The country’s annual inflation ratesitsat a two-year low of 2.26%.\n(Updates with equity section.)', 'Bitcoin rose on Thursday morning in Asia to trade in the US$26,500 range. The token logged its biggest one-day increase for the past six weeks on Wednesday, making up some of the losses from last week’s nosedive.\xa0Ether also moved up to challenge the US$1,700 resistance level, while all other top 10 non-stablecoin cryptocurrencies traded higher. The rise across cryptocurrencies mirrored a rally in the U.S. equity market on Thursday. S&P Global’s purchasing manager’s index for August showed a slowdown in the U.S. economy, mitigating inflation and rate hike concerns.\nSolana’s SOL led the crypto winners after Solana Pay announced a partnership with Shopify to allow USDC payments on the e-commerce platform. The Forkast 500 NFT index fell as OpenSea’s decision to stop enforcing creator royalties continues to impact the market. Meanwhile, U.S. AI chipmaker Nvidia released a better-than-expected earnings report which drove a 6% rise in the firm’s shares and a boost for U.S. equities.\nBitcoin rose 2.23% in the last 24 hours to US$26,510.04 as of 07:20 a.m. in Hong Kong, but lost 8.11% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency reached a seven-day high of US$26,786.90 on Wednesday, a jump of over 3.7% from its daily low of US$25,806.99.\nThe rise in Bitcoin came on the back of a Wall Street rally. The S&P 500 and Nasdaq Composite posted gains of more than 1% at close of trading Wednesday. That followed the release of S&P Global’s flash U.S. Composite PMI index — a measurement of economic activity in both the manufacturing and service sectors.\nThe indexshowedthat economic growth in August was close to stalling. Investors werehopefulthat a slowdown in consumer spending could lead the U.S. Federal Reserve to pause its cycle of interest rate increases — good news for the crypto market playing out in today’s price increases.\nCoinGlassdata showed total Bitcoin liquidations at US$39.08 million over the past 24 hours. That included US$9.65 million of long positions — positions where investors bet the cryptocurrency price will rise.\nIt was the first time since August 20 that liquidations on Bitcoin short positions — which totaled US$29.43\xa0 — surpassed long position liquidations, indicating an improvement in investor sentiment.\nLike Bitcoin, Ether gained. It rose 3.04% to US$1,681.25 but was still down 7.06% over the past seven days.\nBitstamp, a Europe-based crypto exchange,revealedWednesday it will stop providing Ether staking services to U.S. customers from September 25, citing “current regulatory dynamics” in the country. The exchange previouslyannouncedit would suspend trades of seven cryptocurrencies declared securities by the U.S. Securitees and Exchange Commission (SEC) from August 27.\nAll other top 10 non-stablecoin cryptocurrencies traded higher over the past 24 hours. Solana’s SOL token led the winners, jumping 5.35% to US$21.61. But it was still down 5.23% for the week.\nSolana Pay, a free-to-use payment protocol built on the Solana blockchain,announceda partnership with Canada-based e-commerce platform Shopify on Wednesday. The partnership will allow Solana Pay users to use USDC stablecoin for online shopping without intermediary fees. The protocol will also consider adding other payment options such as SOL and BOND in the future, TechCrunchreportedon Wednesday.\nThe total crypto market capitalization rebounded 2.53% to US$1.07 trillion. Trading volume rose 10.71% to US$35.37 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexdropped 1.11% over the past 24 hours to 2,271.35 as of 10:30 a.m. in Hong Kong, down 7.48% for the week. Forkast’s Ethereum and Cardano NFT indexes also logged losses, while the Solana and Polygon indexes moved up.\nThe Forkast 500 has posted a loss of 44.87% since the start of the year. But the index still has room to fall, Forkast Labs NFT strategist Yehudah Petscher said in avideoposted to YouTube Wednesday.\n“Last year from the start of the year to the end of the year, the market lost over 75% of its value, meaning we have much further to fall. Possibly a 30% (drop) or more,” Petscher said.\nHowever, all is not lost, as rising transactions indicate the potential for industry growth.\n“NFTs are dead? Someone’s lying to you,” Petscher tweeted on Wednesday. “Total sales are similar to early/mid 2021 levels, but the number of buyers/sellers are near 2022 levels. Transactions hit an all-time high too with 3,701,251 last week.”\nTotal NFT trading volume dropped 11.20% in the past 24 hours to US$12.92 million. Volumes on the Ethereum and Polygon blockchains dropped, while Solana, Bitcoin and Cardano volumes edged up, according to data fromCryptoSlam.\n“Overall the OpenSea royalty policy is still having an impact on the market. Transactions have been declining, total sales are down and average sales price is up,” said Petscher.\n“The higher average sales price lately indicates expensive NFTs being sold, but these are typically at a loss these days,” he added.\nOpenSea, one of the world’s leading NFT marketplaces,announcedlast week it would stop enforcing royalties — a major source of income for NFT creators — from Aug. 31.\nIn response to the OpenSea announcement, rival NFT marketplace Rarible said on Wednesday it will continue supporting royalties. It will also stop aggregating orders from the OpenSea, LooksRare and X2Y2 marketplaces, all of which have stopped enforcing royalties.\n“Decentralization offers the opportunity to dispel the stigma of the ‘starving artist,’ and enable the continued growth of projects through true ownership and ongoing earnings,” said Alex Salnikov, co-founder of Rarible, in astatementposted on Twitter.\n“We stand in solidarity with creators and artists. That’s why we will no longer support marketplaces that neglect royalties,” he added\nAfter the announcement, Rarible experienced a 310.85% surge in 24-hour trading volume to US$34,000 as of 11:00 a.m. in Hong Kong. That’s still only a fraction of OpenSea’s 24-hour volume of US$2.19 million — a 8.82% drop, according toDappRadardata.\n“I don’t think it moves the needle one way or another, but now it’s time for collectors and creators to put their money where their mouth is,” said Petscher in Wednesday’s YouTube video.\n“If creators feel strongly that royalties are necessary, they are gonna mint on Rarible, they are gonna partner with Rarible. And the same goes to collectors,” he said.\nEthereum-based Bored Ape Yacht Club (BAYC) topped the 24-hour sales volume for NFT collections. It fell 50.91%% in the past 24 hours to US$1.34 million. Mythos Chain-based DMarket and Ethereum-based Sorare placed second and third in the ranking.\nU.S. stock futures were trading higher as of 11:40 a.m. in Hong Kong with the tech-heavy Nasdaq posting a 1.30% gain. The three major U.S. indexes closed higher at the end of regular session trading Tuesday.\nMain stock indexes across Asia also went higher on Thursday morning. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged gains.\nFinancial intelligence corporation S&P Global released its flash U.S. composite PMI index on Wednesday. The index dropped from 52.0 in July to 50.4 in August — the weakest upturn in economic activities since February 2023.\n“A near-stalling of business activity in August raises doubts over the strength of US economic growth in the third quarter,” Chris Williamson, chief business economist at S&P Global Market Intelligence,saidin Wednesday’s report.\n“The survey shows that the service sector-led acceleration of growth in the second quarter has faded, accompanied by a further fall in factory output,” he added.\nMeanwhile, the flash composite PMI index in the euro zone fell from 48.6 in July to 47.0 in August. That’s the lowest reading since November 2020, according to theHamburg Commercial Bankon Wednesday.\n“In reaction to the (PMI) data, government bond yields have fallen sharply across the board, including at the front end due to stronger expectations that the ECB and Fed are now more likely to keep rates unchanged,” Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz,tweetedon Wednesday.\nThe U.S. interest rate is now between 5.25% and 5.50%, the highest level in the past 22 years. TheCME FedWatch Toolpredicts a 13.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, down from 15% on Wednesday.\nTo receive further insights into the Fed’s future monetary policies, investors await Fed Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday. Central bank leaders from across the world will attend the Fed-held annual summit.\nElsewhere, U.S. AI chipmaker Nvidiareportedsecond-quarter revenue of US$13.51 billion on Wednesday, an annual jump of over 100%. The firm also forecast revenue of US$16 billion for the three months to the end of October, higher than the analysts’expectationof US$12.5 billion.\nThe share price of Nvidia closed 3.17% higher on Wednesday, and reached an all-time high of over US$517 in extended trading on Thursday morning in Asia.\n“(Nvidia’s results show) that betting on AI is paying off today,” Thomas Monteiro, senior analyst at financial website Investing.com,toldBloomberg. “This is a big deal because it validates the narrative that has been propping tech stocks in general this year.”\nIn Asia, South Korea’s central bank kept its base rate unchanged at 3.50% on Thursday. The country’s annual inflation ratesitsat a two-year low of 2.26%.\n(Updates with equity section.)', "Timothy A. Clary/Getty Images US stocks surged more than 1% on Wednesday as the 10-year US Treasury rate tumbled 15 basis points. The decline in interest rates came after economic data showed a slowdown in US business activity earlier this month. Investors are anticipating Nvidia's second-quarter earnings report and Fed Chair Jerome Powell's Jackson Hole speech. US stocks surged more than 1% on Wednesday while interest rates tumbled after economic data showed slowing US business activity earlier this month. Data from the S&P Global flash composite output index fell showed the slowest
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-24
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $507,169,191,725
- Hash Rate: 384329020.9651023
- Transaction Count: 399151.0
- Unique Addresses: 660102.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.41
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin, Ether and all other top 10 non-stablecoin cryptocurrencies fell on Thursday morning in Asia as the U.S. public holiday this week slowed trading and some investors seemed to be taking profits off recent gains. Bitcoin is still up 1% for the week, with BlackRock’s head Larry Fink backing the world’s biggest cryptocurrency as having the potential to revolutionize finance. Litecoin and Cardano led the losers.
Bitcoin fell 1.06% over the last 24 hours to US$30,465 at 06:35 a.m. in Hong Kong, while its weekly gain stood at 1.02%, according todatafrom CoinMarketCap. The token, which had a market cap of US$591 billion as of Thursday, has risen 83% so far this year in a rebound from the bear market slump in 2022.
“Bitcoin is still the main driver of trading volume albeit that is also soft – no doubt linked to the July 4th U.S. public holiday washing through,” said Caroline Bowler, the chief executive officer of Australia-based crypto exchange BTC Markets, in a text message toForkast.
“We may be seeing the effects of this reduced liquidity and greater asset concentration playing out, with some greater price sensitivities in trading,” Bowler added. “The industry is coming out of the prolonged bear market so this is to be expected.”
The price dip came after a run up in many tokens sparked by growing optimism around the possible approval of Bitcoin exchange-traded funds (ETFs) in the U.S., which will open the cryptocurrency to a wider pool of investors.
BlackRock, the world’s largest asset manager that oversees about US$10 trillion, filed applications to launch the first publicly traded spot Bitcoin ETFs on June 15. It refiled the application on Monday after the regulator, the Securities and Exchange Commission, reportedly said it was lacking in detail.
Larry Fink, chief executive officer of BlackRock Inc., said Wednesday that he wanted to “democratize” cryptocurrencies with the ETF filings, in an interview with Fox Business. Fink also said Bitcoin is an international asset that could revolutionize finance.
Ether lost 1.55% to US$1,911, though it was holding onto a gain of 4.40% for the past seven days.
All other top 10 cryptocurrencies by market capitalization lost ground, with Litecoin and Cardano leading the losing pack.
Litecoin slipped 3.84% to US$102.19 in what appeared to be profit taking after the token gained ahead of its halving on Aug. 2 and its listing on EDX Markets, the Wall Street-backed crypto exchange in the U.S. that opened on June 20. Litecoin is still up 22.72% on the week.
Cardano’s ADA lost 3.60% to US$0.2843 while adding 5.61% for the week. Today’s correction also seemed linked to profit-taking, even as parent company Input Output Global Inc. on WednesdayreleasedMarlowe, a so-called toolset to build smart contracts on the blockchain.
The total cryptocurrency market cap fell 1.32% to US$1.19 trillion in the last 24 hours, while crypto trading volume rose 0.58% to US$31.27 billion, according to CoinMarketCap data.
The indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.
The Forkast 500 NFT index rose 0.96% in the 24 hours to 07:30 a.m. in Hong Kong to 2,801.94, but logged a loss of 1.72% for the week. While the Forkast Ethereum NFT index rose, the indexes measuring the performance of Solana, Polygon and Cardano-based NFT markets all declined.
Investors remain basically pessimistic, said Yehudah Petscher, NFT Strategist at Forkast Labs, the parent company of Forkast.News.
“Forkast 500 NFT Index is up almost 1%, though still has traders wondering if this is a dead cat bounce, or if there is enough value with these discounted NFT prices that collections have fallen to recently,” Petscher said. “Most are betting this is not the bottom, and a new update from the Blur marketplace has traders worried.”
Blur marketplace took the NFT world by storm when it launched last November, and its 30-day trading volumesurpassedprevious NFT leader OpenSea in February. Blur picked up more steam when it launchedBlend, a peer-to-peer lending protocol for NFTs on May 2.
Blur is expanding its popular reward system that distributes $Blur tokens to users that have met certain criteria as “airdrops,” but Petscher says this could be bad news for NFTs overall.
“Blur is introducing rewards for trait offers, which means traders who bid on specific NFT traits on select projects will receive Blur reward points. These points will contribute to the amount of $Blur tokens that traders will receive at the end of Blur’s season 2 airdrop,” said Petscher.
This will lead to morefarmers— buyers that generate income through staking NFTs — to prevail in the market over pure collectors.
“The concert with the new mechanic is that traders will artificially inflate the rarer NFTs in collections, as you receive more points the higher a bid is from the floor price of the collection,” said Petscher. “We’ll see how the new trait offers affect NFT prices, but it’s expected to continue artificially inflating NFT prices, and then culminate in floor crashes like we saw recently.”
By NFT collections, Bored Ape Yacht Club topped the trading volume rankings on Cryptoslam with US$3.76 million, with the volume surging 74.52% on the day. Uncategorized Bitcoin Ordinals — unique digital assets on the Bitcoin network that are not identified as part of one established collection — placed second by transactions volume, rising 22.03% to US$1.86 million.
Total NFT trading volume dropped 4.61% to US$28.3 million. Volume on Ethereum fell 9.36% to US$19.3 million according to Cryptoslamdata. Volume on the Bitcoin network gained 11.97% to US$3.69 million, while volumes on Polygon, Solana and BNB also rose.
U.S. stock futures dipped as of 10:45 a.m. Thursday in Hong Kong, pointing to another down day for stocks that fell during regular trading on Wednesday. Futures on the Dow Jones Industrial Average, S&P 500 futures and Nasdaq all declined by about 0.1%.
Minutes from the Federal Reserve’s June meeting showed most Fed officials favor more interest rate increases this year, adding to the conviction the U.S. will raise rates again this month, according toTrading Economics. This concern hit Asian equities as well.
Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all moved lower. China’s Shanghai Composite managed a marginal gain of 0.1% on Thursday.
U.S. Treasury Secretary Janet Yellen arrives in Beijing on Thursday and investors anticipate that the meetings she will have through July 9 may help stabilize relations between the world’s two largest economies, currently marked by sanctions and distrust.
On economic indicators, the U.S. releases initial jobless claims and the services purchasing managers’ index on Thursday.
The Federal Reserve’s next meeting on rates is July 26. The CME FedWatch Tool predicts a 88.7% chance for a 25-basis-point rate increase, up from 87.4% on Tuesday. The likelihood the Fed won’t increase is now at 11.3%.
(Updates to add equities section)...
- Reddit Posts (Sample): [['u/VeparUSvemiru', 'What would happen to the BTC price if', 22, '2023-08-24 14:41', 'https://www.reddit.com/r/Bitcoin/comments/1600vt8/what_would_happen_to_the_btc_price_if/', 'Question:\n\nThe current market cap of Bitcoin is $513,700,000,000 the current price of BTC is $26,400 and according to some analyses, around 6.3% of BTC is still available on exchanges.\n\nWhat would happen to the BTC price if someone were to suddenly buy all of this 6.3%?\n\nthnx!', 'https://www.reddit.com/r/Bitcoin/comments/1600vt8/what_would_happen_to_the_btc_price_if/', '1600vt8', [['u/SmoothGoing', 45, '2023-08-24 14:52', 'https://www.reddit.com/r/Bitcoin/comments/1600vt8/what_would_happen_to_the_btc_price_if/jxjpgnc/', "That's also the same as suddenly **selling** those alleged 6.3%. So..", '1600vt8']]]]...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
| |
You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin dropped to around the US$26,000 level Friday morning in Asia, giving up much of the previous day’s gains. Ahead of the U.S Federal Reserve Chair Jerome Powell’s Friday speech at Jackson Hole, investors are looking for signs of an end to the rate hike cycle, with repercussions for the crypto market. Ether moved lower to near the US$1,600 support level, while most other top 10 non-stablecoin cryptocurrencies logged losses. Solana led the losers after its own day of gains Thursday. The Forkast 500 NFT index gained slightly as the Solana blockchain’s new partnership with e-commerce platform Shopify points to better times ahead for NFTs. U.S. stock futures traded mixed after Wall Street closed lower on Thursday, with all three major U.S. indexes logging losses of over 1%. Bitcoin gives up gains as cautionary mood prevails Bitcoin dropped 1.40% in the last 24 hours to US$26,081.21 as of 07:20 a.m. in Hong Kong and traded 2.90% lower for the week, according to CoinMarketCap data. The world’s leading cryptocurrency reached a low of US$25,914.93 on early Friday, a 2.9% decline from its high daily high of US$26,688.48 on Thursday. According to Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com, the current caution in the crypto market is due to increased regulatory scrutiny in the U.S. The U.S. Securities and Exchange Commission (SEC) has brought lawsuits against a number of digital asset firms, including Ripple Labs, Binance.US and Coinbase. Luxembourg-based cryptocurrency exchange Bitstamp said Thursday it will stop Ether staking services for U.S. customers from Sep. 25 in light of recent regulatory developments. Hasn said the “negative sentiment may continue to put pressure on the cryptocurrency market in the coming weeks or months until a regulatory and legislative environment that regulates the cryptocurrency market becomes clear.” He pointed to data from blockchain intelligence firm Santiment that shows Bitcoin whales moving large amounts of the token to their wallets as a further sign of a decline in market sentiment. Story continues “The relatively huge movements in cryptocurrency wallets, led by Bitcoin, may continue to weaken the confidence of participants and fuel a state of caution about what may happen in the future in the market and lead to collapses or wide fluctuations,” Hasn added. Greta Yuan, head of research at Hong Kong-based digital asset exchange VDX, said that investors have to recognize that “the bear market is not over yet.” With trading volume across the market still weak, Bitcoin’s price could remain in the range of US$25,000-27,000 for some time, she added. Alongside Bitcoin’s losses, Ether also dipped 1.40% to US$1,652.77 and was down 3.27% over the past seven days. Most other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. The exception was Binance’s BNB token, which edged up 0.58% to US$217.48 but still logged a weekly loss of 1.87%. Mastercard said it will end four crypto card programs in Argentina, Brazil, Colombia and Bahrain by September 22. The global payment giant was partnered with Binance on the four programs. No reason was provided for the cancellations, first reported by Reuters on Thursday. Solana’s SOL token led the losers, falling 3.09% to US$20.90 for a weekly loss of 4.98%. SOL reached a four-day high of US$21.99 on Thursday as it announced that Solana Pay — a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees. The total crypto market capitalization dropped 1.23% to US$1.05 trillion. Trading volume fell 22.52% to US$27.41 billion. Signs of life for NFTs? The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index edged up 0.20% over the past 24 hours to 2,274.13 as of 10:00 a.m. in Hong Kong, but was still down 7.36% for the week. Forkast’s Ethereum and Cardano NFT indexes dropped, while the Solana and Polygon indexes moved up. “Global sales are up to over US$15m in the past 24 hours and the Forkast 500 has been flashing green over this period. I wouldn’t expect this to last though,” said Yehudah Petscher, NFT strategist at Forkast Labs, via a note. Total NFT trading volume rose 24.48% in the past 24 hours to US$15.20 million. Volumes on the Ethereum, Solana, Polygon and Cardano blockchains all logged increases, while the Bitcoin network’s volume dropped, according to data from CryptoSlam . Solana spearheaded the increase in NFT trading volumes, surging over 125% in the past 24 hours to US$2.24 million and second place in CryptoSlam’s volumes ranking. “A majority of these sales are behind a new profile-picture (PFP) collection called Meegos that was created by Blocksmith Labs. In just a few hours the collection has 10x the sales as the second ranked Solana collection, totaling over US$1 million in sales today,” Petscher said. Meanwhile, Solana’s recently-announced partnership with e-commerce platform Shopify has provided a much-needed boost to the NFT market. “Most NFTs you have to pay for with crypto, and we need crypto adoption,” Petscher said in a video posted to YouTube Thursday. “This is just an inevitable step to bring people into Web3, like what we’re seeing with Paypal and their introduction of a stablecoin, so mass adoption is happening,” he added. Ethereum-based Bored Ape Yacht Club (BAYC) continued to top the 24-hour sales volume for NFT collections. It rose 6.64% in the past 24 hours to US$1.28 million. Solana-based Meegos and Mythos Chain-based DMarket placed second and third in the ranking. Meanwhile, art NFTs — especially generative art — remain a big seller, despite the bear market. Momentum, a generative art collection by Dutch artist Rik Oostenbroek, was released on Thursday as part of Velocity — an NFT series launched by crypto exchange Bybit and Formula One racing team Oracle Red Bull Racing. It sold out within the day. MOMENTUM SOLD OUT. Thank you so much for the great collaboration @redbullracing @Bybit_Official @ArtOnInternet pic.twitter.com/7ENN6IrugX — Rik Oostenbroek (@RikOostenbroek) August 24, 2023 Elsewhere, Eric Calderon, founder of generative art platform Art Blocks, released his “heart + craft” NFT collection on the Arbitrum blockchain on Friday. Each of the NFTs in the collection contain a generative art piece and a 3D printable model that can be used to generate physical replicas of the artwork. Powell speech to shed light on Fed policy U.S. Federal Reserve Chair Jerome Powell|Getty Images U.S. stock futures were trading mixed as of 11:10\xa0 a.m. in Hong Kong. Wall Street closed lower at the end of regular session trading Thursday. All three major U.S. indexes fell more than 1% as the Nvidia-led tech rally subsided. Main stock indexes across Asia also dipped on Friday morning. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged losses All eyes are now on the Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday, which will be attended by central bank leaders from across the world. The speech will provide further insights into the Fed’s future monetary policies. The Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. Powell said following July’s meeting that the central bank will take a “data-dependent” approach when deciding how to reduce the country’s annual inflation below its long-term goal of 2%. “Fading expectations of recession have brought the focus back to inflation and a potential tight Fed,” analysts at Bank of America said in note viewed by Reuters . “Risk assets have started showing more signs of weakness than at any other point this year,” they added. “We therefore think equities are more at risk of a macro-driven shock than the market is pricing in.” Ahead of Powell’s speech, Boston Federal Reserve President Susan Collins told Yahoo! Finance on Thursday that the Fed might need to raise the interest rate further and keep it elevated for longer. “I think it is going to take some time to really be sure we are seeing sustained realignment of demand and supply that is needed in order to bring inflation back on a path that will get back to 2%,” said Collins. Meanwhile, Philadelphia Federal Reserve President Patrick Harker told CNBC on Thursday he thought the Fed should keep the interest rate as it is “for a while.” The economy could see rate cuts in 2024 depending on the data, he added. The CME FedWatch Tool predicts a 19.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 13.5% on Thursday. (Updates with equity section.)', 'Bitcoin dropped to around the US$26,000 level Friday morning in Asia, giving up much of the previous day’s gains. Ahead of the U.S Federal Reserve Chair Jerome Powell’s Friday speech at Jackson Hole, investors are looking for signs of an end to the rate hike cycle, with repercussions for the crypto market. Ether moved lower to near the US$1,600 support level, while most other top 10 non-stablecoin cryptocurrencies logged losses. Solana led the losers after its own day of gains Thursday. The Forkast 500 NFT index gained slightly as the Solana blockchain’s new partnership with e-commerce platform Shopify points to better times ahead for NFTs. U.S. stock futures traded mixed after Wall Street closed lower on Thursday, with all three major U.S. indexes logging losses of over 1%.\nBitcoin dropped 1.40% in the last 24 hours to US$26,081.21 as of 07:20 a.m. in Hong Kong and traded 2.90% lower for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency reached a low of US$25,914.93 on early Friday, a 2.9% decline from its high daily high of US$26,688.48 on Thursday.\nAccording to Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com, the current caution in the crypto market is due to increased regulatory scrutiny in the U.S.\nThe U.S. Securities and Exchange Commission (SEC) has brought lawsuits against a number of digital asset firms, including Ripple Labs, Binance.US and Coinbase. Luxembourg-based cryptocurrency exchange BitstampsaidThursday it will stop Ether staking services for U.S. customers from Sep. 25 in light of recent regulatory developments.\nHasn said the “negative sentiment may continue to put pressure on the cryptocurrency market in the coming weeks or months until a regulatory and legislative environment that regulates the cryptocurrency market becomes clear.”\nHe pointed todatafrom blockchain intelligence firm Santiment that shows Bitcoin whales moving large amounts of the token to their wallets as a further sign of a decline in market sentiment.\n“The relatively huge movements in cryptocurrency wallets, led by Bitcoin, may continue to weaken the confidence of participants and fuel a state of caution about what may happen in the future in the market and lead to collapses or wide fluctuations,” Hasn added.\nGreta Yuan, head of research at Hong Kong-based digital asset exchange VDX, said that investors have to recognize that “the bear market is not over yet.” With trading volume across the market still weak, Bitcoin’s price could remain in the range of US$25,000-27,000 for some time, she added.\nAlongside Bitcoin’s losses, Ether also dipped 1.40% to US$1,652.77 and was down 3.27% over the past seven days.\nMost other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. The exception was Binance’s BNB token, which edged up 0.58% to US$217.48 but still logged a weekly loss of 1.87%.\nMastercard said it will end four crypto card programs in Argentina, Brazil, Colombia and Bahrain by September 22. The global payment giant was partnered with Binance on the four programs. No reason was provided for the cancellations, firstreportedby Reuters on Thursday.\nSolana’s SOL token led the losers, falling 3.09% to US$20.90 for a weekly loss of 4.98%.\nSOL reached a four-day high of US$21.99 on Thursday as itannouncedthat Solana Pay — a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees.\nThe total crypto market capitalization dropped 1.23% to US$1.05 trillion. Trading volume fell 22.52% to US$27.41 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexedged up 0.20% over the past 24 hours to 2,274.13 as of 10:00 a.m. in Hong Kong, but was still down 7.36% for the week. Forkast’s Ethereum and Cardano NFT indexes dropped, while the Solana and Polygon indexes moved up.\n“Global sales are up to over US$15m in the past 24 hours and the Forkast 500 has been flashing green over this period. I wouldn’t expect this to last though,” said Yehudah Petscher, NFT strategist at Forkast Labs, via a note.\nTotal NFT trading volume rose 24.48% in the past 24 hours to US$15.20 million. Volumes on the Ethereum, Solana, Polygon and Cardano blockchains all logged increases, while the Bitcoin network’s volume dropped, according to data fromCryptoSlam.\nSolana spearheaded the increase in NFT trading volumes, surging over 125% in the past 24 hours to US$2.24 million and second place in CryptoSlam’s volumes ranking.\n“A majority of these sales are behind a new profile-picture (PFP) collection calledMeegosthat was created by Blocksmith Labs. In just a few hours the collection has 10x the sales as the second ranked Solana collection, totaling over US$1 million in sales today,” Petscher said.\nMeanwhile, Solana’s recently-announcedpartnershipwith e-commerce platform Shopify has provided a much-needed boost to the NFT market.\n“Most NFTs you have to pay for with crypto, and we need crypto adoption,” Petscher said in avideoposted to YouTube Thursday.\n“This is just an inevitable step to bring people into Web3, like what we’re seeing withPaypaland their introduction of a stablecoin, so mass adoption is happening,” he added.\nEthereum-based Bored Ape Yacht Club (BAYC) continued to top the 24-hour sales volume for NFT collections. It rose 6.64% in the past 24 hours to US$1.28 million. Solana-based Meegos and Mythos Chain-based DMarket placed second and third in the ranking.\nMeanwhile, art NFTs — especially generative art — remain a big seller, despite the bear market.\nMomentum, a generative art collection by Dutch artist Rik Oostenbroek, was released on Thursday as part of Velocity — an NFT series launched by crypto exchange Bybit and Formula One racing team Oracle Red Bull Racing. It sold out within the day.\nElsewhere, Eric Calderon, founder of generative art platform Art Blocks,releasedhis “heart + craft” NFT collection on the Arbitrum blockchain on Friday. Each of the NFTs in the collection contain a generative art piece and a 3D printable model that can be used to generate physical replicas of the artwork.\nU.S. stock futures were trading mixed as of 11:10\xa0 a.m. in Hong Kong. Wall Street closed lower at the end of regular session trading Thursday. All three major U.S. indexes fell more than 1% as the Nvidia-led tech rally subsided.\nMain stock indexes across Asia also dipped on Friday morning. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged losses\nAll eyes are now on the Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday, which will be attended by central bank leaders from across the world. The speech will provide further insights into the Fed’s future monetary policies.\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. Powellsaidfollowing July’s meeting that the central bank will take a “data-dependent” approach when deciding how to reduce the country’s annual inflation below its long-term goal of 2%.\n“Fading expectations of recession have brought the focus back to inflation and a potential tight Fed,” analysts at Bank of America said in note viewed byReuters.\n“Risk assets have started showing more signs of weakness than at any other point this year,” they added. “We therefore think equities are more at risk of a macro-driven shock than the market is pricing in.”\nAhead of Powell’s speech, Boston Federal Reserve President Susan CollinstoldYahoo! Finance on Thursday that the Fed might need to raise the interest rate further and keep it elevated for longer.\n“I think it is going to take some time to really be sure we are seeing sustained realignment of demand and supply that is needed in order to bring inflation back on a path that will get back to 2%,” said Collins.\nMeanwhile, Philadelphia Federal Reserve President Patrick HarkertoldCNBC on Thursday he thought the Fed should keep the interest rate as it is “for a while.” The economy could see rate cuts in 2024 depending on the data, he added.\nTheCME FedWatch Toolpredicts a 19.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 13.5% on Thursday.\n(Updates with equity section.)', 'Bitcoin dropped to around the US$26,000 level Friday morning in Asia, giving up much of the previous day’s gains. Ahead of the U.S Federal Reserve Chair Jerome Powell’s Friday speech at Jackson Hole, investors are looking for signs of an end to the rate hike cycle, with repercussions for the crypto market. Ether moved lower to near the US$1,600 support level, while most other top 10 non-stablecoin cryptocurrencies logged losses. Solana led the losers after its own day of gains Thursday. The Forkast 500 NFT index gained slightly as the Solana blockchain’s new partnership with e-commerce platform Shopify points to better times ahead for NFTs. U.S. stock futures traded mixed after Wall Street closed lower on Thursday, with all three major U.S. indexes logging losses of over 1%.\nBitcoin dropped 1.40% in the last 24 hours to US$26,081.21 as of 07:20 a.m. in Hong Kong and traded 2.90% lower for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency reached a low of US$25,914.93 on early Friday, a 2.9% decline from its high daily high of US$26,688.48 on Thursday.\nAccording to Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com, the current caution in the crypto market is due to increased regulatory scrutiny in the U.S.\nThe U.S. Securities and Exchange Commission (SEC) has brought lawsuits against a number of digital asset firms, including Ripple Labs, Binance.US and Coinbase. Luxembourg-based cryptocurrency exchange BitstampsaidThursday it will stop Ether staking services for U.S. customers from Sep. 25 in light of recent regulatory developments.\nHasn said the “negative sentiment may continue to put pressure on the cryptocurrency market in the coming weeks or months until a regulatory and legislative environment that regulates the cryptocurrency market becomes clear.”\nHe pointed todatafrom blockchain intelligence firm Santiment that shows Bitcoin whales moving large amounts of the token to their wallets as a further sign of a decline in market sentiment.\n“The relatively huge movements in cryptocurrency wallets, led by Bitcoin, may continue to weaken the confidence of participants and fuel a state of caution about what may happen in the future in the market and lead to collapses or wide fluctuations,” Hasn added.\nGreta Yuan, head of research at Hong Kong-based digital asset exchange VDX, said that investors have to recognize that “the bear market is not over yet.” With trading volume across the market still weak, Bitcoin’s price could remain in the range of US$25,000-27,000 for some time, she added.\nAlongside Bitcoin’s losses, Ether also dipped 1.40% to US$1,652.77 and was down 3.27% over the past seven days.\nMost other top 10 non-stablecoin cryptocurrencies traded lower over the past 24 hours. The exception was Binance’s BNB token, which edged up 0.58% to US$217.48 but still logged a weekly loss of 1.87%.\nMastercard said it will end four crypto card programs in Argentina, Brazil, Colombia and Bahrain by September 22. The global payment giant was partnered with Binance on the four programs. No reason was provided for the cancellations, firstreportedby Reuters on Thursday.\nSolana’s SOL token led the losers, falling 3.09% to US$20.90 for a weekly loss of 4.98%.\nSOL reached a four-day high of US$21.99 on Thursday as itannouncedthat Solana Pay — a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees.\nThe total crypto market capitalization dropped 1.23% to US$1.05 trillion. Trading volume fell 22.52% to US$27.41 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexedged up 0.20% over the past 24 hours to 2,274.13 as of 10:00 a.m. in Hong Kong, but was still down 7.36% for the week. Forkast’s Ethereum and Cardano NFT indexes dropped, while the Solana and Polygon indexes moved up.\n“Global sales are up to over US$15m in the past 24 hours and the Forkast 500 has been flashing green over this period. I wouldn’t expect this to last though,” said Yehudah Petscher, NFT strategist at Forkast Labs, via a note.\nTotal NFT trading volume rose 24.48% in the past 24 hours to US$15.20 million. Volumes on the Ethereum, Solana, Polygon and Cardano blockchains all logged increases, while the Bitcoin network’s volume dropped, according to data fromCryptoSlam.\nSolana spearheaded the increase in NFT trading volumes, surging over 125% in the past 24 hours to US$2.24 million and second place in CryptoSlam’s volumes ranking.\n“A majority of these sales are behind a new profile-picture (PFP) collection calledMeegosthat was created by Blocksmith Labs. In just a few hours the collection has 10x the sales as the second ranked Solana collection, totaling over US$1 million in sales today,” Petscher said.\nMeanwhile, Solana’s recently-announcedpartnershipwith e-commerce platform Shopify has provided a much-needed boost to the NFT market.\n“Most NFTs you have to pay for with crypto, and we need crypto adoption,” Petscher said in avideoposted to YouTube Thursday.\n“This is just an inevitable step to bring people into Web3, like what we’re seeing withPaypaland their introduction of a stablecoin, so mass adoption is happening,” he added.\nEthereum-based Bored Ape Yacht Club (BAYC) continued to top the 24-hour sales volume for NFT collections. It rose 6.64% in the past 24 hours to US$1.28 million. Solana-based Meegos and Mythos Chain-based DMarket placed second and third in the ranking.\nMeanwhile, art NFTs — especially generative art — remain a big seller, despite the bear market.\nMomentum, a generative art collection by Dutch artist Rik Oostenbroek, was released on Thursday as part of Velocity — an NFT series launched by crypto exchange Bybit and Formula One racing team Oracle Red Bull Racing. It sold out within the day.\nElsewhere, Eric Calderon, founder of generative art platform Art Blocks,releasedhis “heart + craft” NFT collection on the Arbitrum blockchain on Friday. Each of the NFTs in the collection contain a generative art piece and a 3D printable model that can be used to generate physical replicas of the artwork.\nU.S. stock futures were trading mixed as of 11:10\xa0 a.m. in Hong Kong. Wall Street closed lower at the end of regular session trading Thursday. All three major U.S. indexes fell more than 1% as the Nvidia-led tech rally subsided.\nMain stock indexes across Asia also dipped on Friday morning. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all logged losses\nAll eyes are now on the Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium on Friday, which will be attended by central bank leaders from across the world. The speech will provide further insights into the Fed’s future monetary policies.\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. Powellsaidfollowing July’s meeting that the central bank will take a “data-dependent” approach when deciding how to reduce the country’s annual inflation below its long-term goal of 2%.\n“Fading expectations of recession have brought the focus back to inflation and a potential tight Fed,” analysts at Bank of America said in note viewed byReuters.\n“Risk assets have started showing more signs of weakness than at any other point this year,” they added. “We therefore think equities are more at risk of a macro-driven shock than the market is pricing in.”\nAhead of Powell’s speech, Boston Federal Reserve President Susan CollinstoldYahoo! Finance on Thursday that the Fed might need to raise the interest rate further and keep it elevated for longer.\n“I think it is going to take some time to really be sure we are seeing sustained realignment of demand and supply that is needed in order to bring inflation back on a path that will get back to 2%,” said Collins.\nMeanwhile, Philadelphia Federal Reserve President Patrick HarkertoldCNBC on Thursday he thought the Fed should keep the interest rate as it is “for a while.” The economy could see rate cuts in 2024 depending on the data, he added.\nTheCME FedWatch Toolpredicts a 19.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 13.5% on Thursday.\n(Updates with equity section.)', 'Donald Trump, Mike Pence, Ron DeSantis, Nikki Haley Despite his mounting legal woes, Donald Trump remains the clear frontrunner for the 2024 Republican presidential nomination . The former president, 77, is hammering all other candidates , with support from over half of the GOP electorate, according to the latest polling. However, with less than six months to go until voting begins in Iowa, there remains a crowded field of Republican candidates running for the White House. Here, The Telegraph takes a closer look at the candidates who have announced their bids. Learn more about the candidates Republicans Donald Trump Former US President Ron DeSantis Florida Governor Mike Pence Former Vice President Nikki Haley Former US Ambassador Vivek Ramaswamy Health entrepreneur & venture capitalist Chris Christie Former New Jersey Governor Asa Hutchinson Former Arkansas Governor Tim Scott US Senator for South Carolina Doug Burgum North Dakota Governor Francis Suarez Miami Mayor Will Hurd Former CIA spy & former Texas congressman Larry Elder Political commentator Perry Johnson Entrepreneur & author Democrats Joe Biden Incumbent US President Robert F Kennedy Jr Lawyer & activist Marianne Williamson Author & motivational\xa0speaker Green Party Cornel West Philosopher & activist When did he declare? Donald Trump declared his run in November 2022 during a speech at his Mar-a-Lago resort. \x93In order to make America great and glorious again, I am tonight announcing my candidacy for president of the United States,\x94 Mr Trump told a crowd of his cheering supporters. \x93Two years ago, we were a great nation, and soon, we will be a great nation again.\x94 He added: \x93This is not just a campaign... This is a quest to save our country.\x94 Where is he polling? Mr Trump remains fair ahead of all other candidates in the polls at 52.3 per cent. Has he started campaigning? Mr Trump has kicked off his 2024 campaign with appearances in the critical early voting states of Iowa, New Hampshire and South Carolina. What are his flagship policies? Framing himself as a Washington outsider once again, Mr Trump is vowing to take on the \x93corrupt political establishment\x94 by backing proposed restrictions on members of Congress. \x93Only a non-politician would do that,\x94 he quipped at one campaign event. Following the 2020 election and his baseless claims of voter fraud, the former president is vowing to implement tough voting restrictions if he comes to power. Illegal immigration, identity culture wars and social media censorship also remain front and centre of his political agenda. He has vowed to end birthright citizenship for children of illegal immigrants on his first day in office if elected and said he will push to institute the death penalty for human traffickers carrying people across the border. Story continues The four charges Donald Trump faces in the Jan 6 indictment What about the indictments? Mr Trump\x92s mounting legal woes do not appear to have worried prospective voters as he leads competitors by a sizeable margin in the polls. He has been indicted four times and faces 91 criminal charges. Even if he is convicted and sentenced , the Republic frontrunner has pledged to continue his presidential campaign and take office. Still, there are pitfalls ahead. Mr Trump could have to reduce his time on the campaign trail to appear in court and perhaps to channel funds away from costly rallies and towards his legal battles. When did he declare? Florida governor Ron DeSantis launched his campaign in May during a botched Twitter event hosted by Elon Musk that was marred by technical glitches. Where is he polling? The self\x96proclaimed \x93anti-woke\x94 governor was initially considered Mr Trump\x92s strongest rival, but he lags ever further behind the former president in the polls, currently standing at 15.6 per cent. Has he started campaigning? Mr DeSantis\x92s campaign team say they raised $1 million (£810,000) in the first hour after announcing his candidacy. However, he was forced to cut a third of his staff in July as his campaign burned through funds. What are his flagship policies? Mr DeSantis gained popularity during the pandemic thanks to his anti-lockdown stance and his refusal to shy away from America\x92s culture wars. He has an impressive record - a star baseball player at Yale, as well as a graduate of Harvard Law School and a former Navy officer - but it is his anti-establishment approach that has won him a following among the GOP base. Mr DeSantis has made his anti-abortion and anti-gun control stances clear during his time in power. In Florida he signed into law a controversial \x93Don\x92t Say Gay\x94 bill which restricts classroom discussion of sexuality and gender identity. Some fear that he lacks the charisma and star power of Mr Trump. Nevertheless, supporters believe he offers a path to victory for Republicans after his landslide re-election in Florida, a critical presidential swing state, in November. What about Trump? The governor has been careful to not make personal attacks against Mr Trump, wary of alienating his large and influential base. However, in recent months he appears to have sharpened his rhetoric against the former president , having finally rejected his claims of election rigging in the 2020 election. He maintains a critical stance against state prosecutors for indicting Mr Trump. When did he declare? Mike Pence, the former US vice president, launched his campaign for the Republican nomination in June . Where is he polling? Mr Pence is currently polling in fourth place at around the five per cent mark. What are his flagship policies? He represents a more traditionally conservative faction of the GOP, in contrast to the campaigns of Mr Trump and Mr DeSantis. The former vice president served for more than a decade in Congress and as Indiana\x92s governor before he was tapped as Mr Trump\x92s running mate in 2016. He is one of few candidates in the race that have unequivocally backed a national abortion ban. He has also said the US should offer more support to Ukraine against Russian aggression, while admonishing \x93Putin apologists\x94 in the GOP. What about Trump? Some blame Mr Pence for refuting Mr Trump\x92s request to overturn the 2020 election result on Jan 6. In reality, as vice president Mr Pence did not have the power to change the results. The dispute ruptured the two men\x92s relationship , and Mr Pence has since become a key figure in his boss\x92 indictment for efforts to overturn the election. Has he started campaigning? Mr Pence describes himself as \x93a Christian, a conservative and a Republican, in that order\x94 and his team sees Iowa and its evangelical Christian voters as critical to his potential path to victory. He has so far held events in the early voting state, South Carolina and New Hampshire, visiting churches, delivering policy speeches and courting donors. Advisers say he plans to campaign aggressively in Iowa, hitting every one of its 99 counties before its first-in-the-nation caucuses next year. When did she declare? Nikki Haley became the first major candidate to formally challenge Mr Trump for the Republican nomination in February, despite previously ruling it out. Where is she polling? Ms Haley, a former UN ambassador and governor of South Carolina is stalling in the polls at 4.1 per cent. She is also trailing Mr Trump and Mr DeSantis in her home state of South Carolina. What are her flagship policies? Ms Haley has been vocal about her pledge to crack down on the \x93Chinese infiltration at our universities\x94. She served as a respected member of Mr Trump\x92s cabinet, known for her defence of his America First policy on the world stage. However, there is a perception that Ms Haley is failing to cut through as she attempts to occupy a space between the moderate and Right-wing of her party . Has she started campaigning? Her campaign has held a number of events in the key early states of Iowa and New Hampshire. What about Trump? Ms Haley has flip-flopped on her support for Mr Trump over the years, most recently calling for a new generation of leadership. She told Fox News: \x93So do I think I could be that leader? Yes, but we are still working through things and we\x92ll figure it out.\x94 She added: \x93I\x92ve never lost a race. I said that then. I still say that now. I\x92m not going to lose now.\x94 When did he declare? Vivek Ramaswamy, a biotech entrepreneur and venture capitalist , was the third major candidate to enter the race for the Republican nomination in February. Where is he polling? He is currently polling third behind Mr Trump and Mr DeSantis in the race at 7.2 per cent. What are his flagship policies? Mr Ramaswamy, 38, said he was launching \x93not only a political campaign but a cultural movement\x94 that would provide a conservative response to America\x92s culture wars. Mr Ramaswamy acknowledged his campaign was a long-shot in an op-ed in the Wall Street Journal, but said idea-driven outsiders could invigorate the country\x92s political discourse and \x93create a new American Dream\x94. The son of Indian immigrants, he invoked his parents\x92 story when calling for a crackdown on illegal immigration and \x93eliminating lottery-based immigration in favour of meritocratic admission.\x94 He is a self-made multi-millionaire and author of the book Woke Inc. - which claimed the \x93woke-industrial complex\x94 was the \x93defining scam of our century\x94. He has previously featured on Forbes\x92 list of richest entrepreneurs under 40, with a reported net worth of $500 million (£392m). What about Trump? He has insisted he will pardon Mr Trump over the dozens of charges he faces. He told CNN: \x93The standard I use as our next president is what moves our country forward. \x93What is the right thing for the United States of America? Absolutely the right answer is to move on and I would pardon him.\x94 When did he declare? Former New Jersey Governor Chris Christie declared in June . Where is he polling? Current polling shows only 2.1 per cent of Republicans see him as their preferred nominee in 2024. What are his flagship policies? He has long remained vocal in his belief in the need for social security means testing. The 60-year-old, who ran for president in 2016,\xa0crashed out in the early stages of the primary but was seen to have wrecked Florida senator Marco Rubio\x92s chances as he mocked him as a robotic, Washington politician. This time around, he has turned his ire on Mr Trump despite once being a member of his inner circle, firing an onslaught of criticism his way over his indictment cases. What about Trump? Mr Christie is positioning himself as the most vociferously anti-Trump candidate, despite previously being a close adviser to the former president. He has previously called him a \x93coward\x94, \x93Putin\x92s puppet\x94, and a \x93lonely, self-consumed, self-serving mirror hog\x94. He had been a close off-and-on adviser of Mr Trump before breaking with the former president over his refusal to accept the results of the 2020 election. He recently said in a podcast interview: \x93I\x92m not dumb. The way to win is to beat the guy who\x92s ahead. And so what would a campaign look like? A campaign would look like a direct frontal challenge to Donald Trump trying to return to the presidency.\x94 When did he declare? Asa Hutchinson, a former governor of the southern US state of Arkansas, announced his candidacy in April , saying that Mr Trump should quit the race to deal with his legal challenges. Where is he polling? He has struggled to cut through the noise, with average polling showing he is some way below the one per cent mark. What are his flagship policies? Making his own case, Mr Hutchinson vowed to focus on issues including border security, the economy and US leadership. \x93I want to provide an alternative\x94, the 72-year-old conservative, who is also a former member of Congress, said as he announced his bid. Mr Hutchinson was Arkansas governor from 2015 to 2023. In 2021, he signed a law outlawing abortion in every case except to save the life of the mother. What about Trump? After Mr Trump\x92s latest indictment, he doubled down on criticism: \x93Trump has lost it. This threatens our democracy, our rule of law and says clearly that he will weaponise the Justice Department if he is elected. America needs leadership with a spirit of grace.\x94 However, there is little sign that an anti-Trump stance is paying off. Mr Hutchinson was recently booed by a crowd chanting \x93Trump, Trump, Trump.\x94 When did he declare? Tim Scott, a senator for South Carolina , declared America is \x93not the land of oppression\x94 as he launched his 2024 bid in May, praising the country\x92s strides on racism. Where is he polling? National polling puts him at around 3.4 per cent, but he is running a close third to Mr DeSantis in the key early states of Iowa and New Hampshire. What are his flagship policies? The 57-year-old has invoked his Christian faith and championed religious liberties, tough action on border security and fiscal responsibility - all red meat for the conservative base. Launching his bid, he told the crowd in his hometown of North Charleston, South Carolina: \x93My family went from cotton to Congress\x94 in one lifetime. He rose from a poverty-stricken childhood in South Carolina to become the only black Republican currently in the US Senate. Mr Scott\x92s supporters say he is the strongest candidate to unite the pro-Trump and Trump-weary factions of his party. Has he started campaigning? The senator has a strong campaign infrastructure in several key states after laying the groundwork for his bid with a listening tour earlier this year. He is one of the Republican Party\x92s top fundraisers, and comfortably won re-election to the Senate last November with more than $20 million (£15.8 million) left over in his war chest. In September, his candidacy is planning a $40 million (£31.6 million)\xa0ad campaign that will run in Iowa, New Hampshire, South Carolina and potentially Nevada. What about Trump? He has a strong conservative record, but has been willing to criticise the former president on occasion. When did he declare? Doug Burgum, the Republican governor of North Dakota, made a splash with his launch video in June. Where is he polling? As one of the outlier candidates, Mr Burgum is polling at 0.3 per cent. What are his flagship policies? The chimney sweep-turned-software billionaire launched an unlikely bid, declaring that in his state, \x93woke\x94 is \x93what you did at 5am to start the day\x94. Mr Burgum, 66, is painting himself as the candidate of \x93small-town America\x94 and its values. In June he said that while he backed a strict abortion ban in his own state, he would not support a similar, nationwide law if he is elected to the White House. Has he started campaigning? Launching his campaign in Fargo, near his home city of Arthur, Mr Burgum said the next US president should be \x93someone who\x92s held jobs where you shower at the end of the day, not at the beginning\x94. Of $11.7 million (£9.2 million) raised by his campaign leading up to the end of the quarter on June 30, more than $10 million (£7.9 million) was provided by a loan from Mr Burgum himself. What about Trump? He has largely steered clear of confronting Mr Trump, but acknowledged that Joe Biden won the 2020 presidential election. Mr Burgum was elected governor in 2016 and re-elected in a landslide in 2020. He is not widely known outside North Dakota, and with polling at 0.3 per cent is considered a long shot. When did he declare? Miami Mayor Francis Suarez joined the crowded race just a day after Mr Trump appeared in court on federal charges in June. Where is he polling? Mr Suarez is tied for the lowest polling rate in the race at around 0.1 per cent. What are his flagship policies? The 45-year-old is the president of the US Conference of Mayors and is the son of Miami\x92s first Cuban-born mayor. Mr Suarez has gained national attention in recent years for his efforts to turn Miami into an economic powerhouse and become the next Silicon Valley. Mr Suarez, who is married with two young children, is a corporate and real estate attorney who previously served as a city of Miami commissioner. He has positioned himself as someone who can help the GOP connect with the Hispanic community. He is more moderate than Mr DeSantis and Mr Trump, but has threaded the needle carefully on cultural issues that have become popular among Republicans. Dubbed the \x93crypto candidate\x94, Mr Suarez is accepting campaign donations for his 2024 bid in cryptocurrency, and is already taking his salary in Bitcoin. Has he started campaigning? Mr Suarez has admitted he is struggling to gain traction in polls, which could be a key stumbling block to appearing on a debate stage. He was not among the eight on stage at the first debate on August 23. What about Trump? Trump advisers have praised Mr Suarez\x92s work and helped him promote what he calls \x93the Miami success story\x94. Kellyanne Conway, Mr Trump\x92s former campaign manager and White House adviser, even floated Mr Suarez\x92s name as a possible vice presidential pick. When did he declare? Will Hurd, a former CIA spy and former Texas congressman, declared his run in June. Where is he polling? He is tied with Mr Suarez in the polls at around 0.1 per cent. What are his flagship policies? Mr Hurd, 45, signposted his concerns on illegal immigration and inflation in his campaign announcement video. He has called himself a \x93dark horse candidate\x94 and said that the only way to win is to \x93not be afraid of Donald Trump\x94. He is hoping to build momentum as a more moderate alternative to the former president. The one-time CIA agent called the Republican frontrunner a \x93failed politician\x94 who lost the GOP \x93the House, the Senate, and the White House.\x94 He has attacked the GOP\x92s struggle to attract college educated middle class women, Black and brown communities and people under the age of 35. Has he started campaigning? Mr Hurd has made a number of media appearances on CNN, CBS and Fox News. What about Turmp? He is a vocal critic of the former president\x92s track record, calling him a \x93proven loser\x94. He was booed at the Republican Party\x92s annual Lincoln Dinner in Des Moines, Iowa, after claiming the former president was running to stay \x93out of jail\x94. When did he declare? Larry Elder declared he was running for president in April. Where is he polling? Mr Elder has yet to make any significant dent in nationwide polls. What are his flagship policies? Mr Elder said he wanted to \x93give back\x94 after deciding not to serve in the military like his father and brother. \x93I\x92m the only one who didn\x92t serve, and I don\x92t feel good about that. I feel I have a moral, religious and patriotic duty to give back to a country that\x92s been so good to me and my family,\x94 he told Fox. His platform includes capping spending at 10 per cent of US gross domestic product nationwide, regulating abortion laws at the state level and other conservative positions. A Los Angeles Republican, he has never held elected office and calls himself \x93the sage from South Central\x94. He earned a living as a lawyer before becoming a talk show host, and received a star on Hollywood Walk of Fame in 2015. His campaign website reads: \x93America is in decline, but this decline is not inevitable. We can enter a new American Golden Age, but we must choose a leader who can bring us there\x94. What about Trump? Mr Elder has in the past been a supporter of Mr Trump but has since said he is \x93not sure\x94 Mr Trump is electable, especially to suburban women. When did he declare? Perry Johnson, a Republican businessman,\xa0announced his bid in March. Where is he polling? Mr Johnson is also yet to make any significant dent in nationwide polls. What are his flagship policies? The millionaire has been touting his plan to cut federal spending by two per cent every year during his campaign. He ran for Michigan governor in 2022 and was considered a top candidate before he and four other Republican hopefuls were disqualified because of invalid signatures. Has he started campaigning? Mr Johnson has been targeting Iowa voters with ads, notably running a TV advert during the Super Bowl\xa0earlier this year. What about Trump? Mr Johnson states on his website that he \x93proudly supported President Trump in 2016 and 2020 and could very easily support him in 2024.\x94 However he also states he believes that \x93politicians of both political parties have failed to provide adequate solutions\x94 to inflation. When did he declare? The incumbent president announced in April that he would be running for re-election and that he would be keeping his current vice president, Kamala Harris, as his running mate. Mr Biden is the oldest president in history, and would be 86 at the end of a second term. Where is he polling? The 46th president, as the incumbent, is virtually assured the Democratic nomination. He is polling at 64.8 per cent among his party\x92s voters. What are his flagship policies? Mr Biden says he is battling \x93for the soul of America\x94 and signalled his campaign would seek to block illiberal moves by \x93Maga extremists\x94. In a recent campaign video he highlighted the issue of abortion, claiming that state politicians were \x93dictating what health care decisions women can make\x94. He has previously pledged to veto any national abortion ban. The US Supreme Court overturned abortion rights last year, and Republican strategists fear the reinvigorated issue will drive Democratic turnout at the polls. Mr Biden has also touted his leadership on the economy, saying \x93Bidenomonics\x94 has meant \x93the poor have a ladder up and the wealthy still do well\x94. Inflation has dipped to around the three per cent mark, although around six in 10 Americans disapprove of his economic performance. Earlier this year, he pledged to block any cuts to Medicare health coverage or social security, and said Republicans \x93dream\x94 of gutting federal programmes. He has also signalled he would stand against attempts to restrict voting rights, amid moves by states to tighten laws on voter ID and postal voting. Has he started campaigning? Strategists suggest Mr Biden intends to stay above the fray of a presidential campaign for as long as possible - instead using the power of his office to demonstrate his leadership. However, party figures are nervous about how the 78-year-old incumbent can perform under the spotlight. When did he declare? Robert F Kennedy Jr is a lawyer, author and prominent conspiracy theorist, mounted a surprise challenge to Mr Biden in March. As the son of Robert F Kennedy and nephew of John F Kennedy, he comes from one of America\x92s most famous political dynasties. However, he has never held elected office and is widely considered a fringe candidate. Where is he polling? The 69-year-old is considered a long shot bid. Recent polling shows his support is in the double digits - high enough to be embarrassing for Mr Biden - but too low to pose a real threat. What are his flagship policies? Mr Kennedy is perhaps best known for his vocal scepticism about vaccines but previously held a reputation as a staunch environmentalist lawyer. He has previously been suspended from social media for promoting conspiracy theories, and provoked outrage for suggesting Covid-19 was \x93ethnically targeted\x94 to spare Ashkenazi Jews and Chinese people. Mr Kennedy later said: \x93I haven\x92t said an anti-Semitic word in my life.\x94 In his pitch for the presidency, he takes aim at a \x93corrupt merger between state and corporate power\x94 that has \x93poisoned our children\x94 and \x93polluted our landscapes and waters\x94. He has been vocal about his opposition to the United States\x92 role in the ongoing Russian inv
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-25
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $506,176,742,588
- Hash Rate: 373269193.0236605
- Transaction Count: 425192.0
- Unique Addresses: 706946.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.39
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin (BTC) investment products suffered a $13 million outflow last week, bucking the trend of consecutive weeks of massive inflows as investors instead favored funds focusing on smaller cryptocurrencies such as ether (ETH) and Ripple’sXRP, crypto asset manager CoinSharesreportedMonday.
Digital asset funds overall witnessed weekly outflows of $6.5 million after gaining $742 million of inflows through the previous four weeks.
The trend reversal came as BTC investors have seemingly run out of positive news to bid on after some major catalysts in recent weeks. Global asset management giant BlackRockfiledfor a long-coveted spot BTC exchange traded fund on June 15, followed by a swarm of competitorsrenewingtheir applications. The BlackRock news spurredinvestors to pile moneyinto BTC-focused investment funds over the next month at the fastest pace since October 2021.
XRP’spartial court victoryover the U.S. Securities and Exchange Commission (SEC) earlier this month sent BTC’s price to a fresh yearly high, before its price quickly reverted below $30,000. The ruling, however, improved investor confidence in altcoins – alternative crypto assets to BTC – which was underscored by positive fund flows through last week.
ETH-focused investment products enjoyed the largest inflows among all cryptocurrencies, totaling $6.6 million. The growth suggests that “sentiment, which has been poor this year, is beginning to turn around” for the second largest crypto asset, noted James Butterfill, head of research at CoinShares.
XRP funds experienced $2.6 million of inflows, totaling $6.8 million, or 8% of all assets under management inflows, over the last 11 weeks. “This implies investors are increasingly confident in the outlook for XRP,” Butterfill said.
Funds holding smaller altcoins such as Solana’sSOL, UniSwap’sUNIand Polygon’sMATICwitnessed positive flows of $1.1 million, $0.7 million and $0.7 million, respectively....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['• US stocks rose Friday as markets brushed off Powell\'s warnings of more possible Fed tightening.\n• The Fed chief said the central bank could hike interest rates further "if appropriate" to tame inflation.\n• Investors seemed to ignore the warning, pushing to the Dow up almost 250 points during the session.\nUS stocks ended higher on Friday as investors brushed off Jerome Powell\'s speech at the Jackson Hole Symposium, where the Fed Chair warned more central bank policy tightening could be in order.\nAt the event, Powell reiterated that prices were still above the Fed\'s 2% inflation target, though central bankers have made good progress cooling down inflation down over the last year.Prices accelerated just 3.3% in July, down from thea peak of 9.1% recorded in June 2022.\n"It is the Fed\'s job to bring inflation down to our 2% goal, and we will do so," Powell said in his speech Friday morning, adding that the central bank would continue to assess inflation\'s descent and raise rates "if appropriate."\nStill, expectations of the Fed\'s future policy moves remained about the same, though investors slightly raised their bets that the central bank will hike rates another 25 basis-points at its November policy meeting. Such a rate move has been priced in with a 46% probability, according to theCME FedWatch tool, up from a 42% probability yesterday.\n"Powell said little to change market expectations in the very short-term," CIBC Private Wealth\'s Gary Pzegeo said in a statement on Friday. "Beyond September, markets may have to adjust the rate outlook higher, particularly if the recent run of faster than expected growth continues to play out."\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Friday:\n• S&P 500:4,405.73, up 29.42%\n• Dow Jones Industrial Average:34,346.96, up 0.73% (+247.54 points)\n• Nasdaq Composite:13,590.65, up 0.94%\nHere\'s what else happened today:\n• The housing market is so unaffordableZillow is now offering prospective homebuyers a 1% down payment option.\n• The average homebuyer lost $71,000 in purchasing powerover the last year, according to a recent Redfin analysis.\n• A US debt explosion could force the Fed to halt a key tightening campaignto stabilize the financial system.\n• Fears of a stock market crash among investors are the highest since 2020, Yale data shows.\n• The stock market will keep moving higheruntil these two things happen, Bank of America warned.\n• China\'s economy is facing a lopsided supply and demand problemthat\'s been years in the making.\n• Taylor Swift, Beyonce, and "Barbieheimer" could end up boosting US GDP by $8.5 billion, according to a Bloomberg analysis.\n• Billionaire investor Ray Dalio says India\'s moon landingis a sign of its growing economic power.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 1.32% to $80.09 a barrel.Brent, the international benchmark, rose 1.7% to $84.80 a barrel.\n• Goldslipped 0.28% to $1,942.60 per ounce.\n• The yield on the 10-year Treasury yield was nearly flat at 4.239%.\n• Bitcoininched lower 0.01% to $26,015.\nRead the original article onBusiness Insider', 'Fed chief Powell reiterated that inflation was still above the Fed\'s 2% target. AP Photo/Susan Walsh, File US stocks rose Friday as markets brushed off Powell\'s warnings of more possible Fed tightening. The Fed chief said the central bank could hike interest rates further "if appropriate" to tame inflation. Investors seemed to ignore the warning, pushing to the Dow up almost 250 points during the session. US stocks ended higher on Friday as investors brushed off Jerome Powell\'s speech at the Jackson Hole Symposium, where the Fed Chair warned more central bank policy tightening could be in order. At the event, Powell reiterated that prices were still above the Fed\'s 2% inflation target, though central bankers have made good progress cooling down inflation down over the last year. Prices accelerated just 3.3% in July , down from the a peak of 9.1% recorded in June 2022 . "It is the Fed\'s job to bring inflation down to our 2% goal, and we will do so," Powell said in his speech Friday morning, adding that the central bank would continue to assess inflation\'s descent and raise rates "if appropriate." Still, expectations of the Fed\'s future policy moves remained about the same, though investors slightly raised their bets that the central bank will hike rates another 25 basis-points at its November policy meeting. Such a rate move has been priced in with a 46% probability, according to the CME FedWatch tool , up from a 42% probability yesterday. "Powell said little to change market expectations in the very short-term," CIBC Private Wealth\'s Gary Pzegeo said in a statement on Friday. "Beyond September, markets may have to adjust the rate outlook higher, particularly if the recent run of faster than expected growth continues to play out." Here\'s where US indexes stood at the 4:00 p.m. closing bell on Friday: S&P 500 : 4,405.73, up 29.42% Dow Jones Industrial Average : 34,346.96, up 0.73% (+247.54 points) Nasdaq Composite : 13,590.65, up 0.94% Here\'s what else happened today: The housing market is so unaffordable Zillow is now offering prospective homebuyers a 1% down payment option . The average homebuyer lost $71,000 in purchasing power over the last year, according to a recent Redfin analysis. A US debt explosion could force the Fed to halt a key tightening campaign to stabilize the financial system. Fears of a stock market crash among investors are the highest since 2020 , Yale data shows. The stock market will keep moving higher until these two things happen, Bank of America warned . China\'s economy is facing a lopsided supply and demand problem that\'s been years in the making. Taylor Swift, Beyonce, and "Barbieheimer" could end up boosting US GDP by $8.5 billion , according to a Bloomberg analysis. Billionaire investor Ray Dalio says India\'s moon landing is a sign of its growing economic power. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 1.32% to $80.09 a barrel. Brent , the international benchmark, rose 1.7% to $84.80 a barrel. Gold slipped 0.28% to $1,942.60 per ounce. The yield on the 10-year Treasury yield was nearly flat at 4.239%. Bitcoin inched lower 0.01% to $26,015. Read the original article on Business Insider', 'In this article, we discuss 10 best performing technology ETFs in 2023. If you want to skip our discussion on the current technology landscape, head directly to 5 Best Performing Technology ETFs in 2023 . In 2023, technology stocks are experiencing a strong surge in value following a significant decline in 2022. However, despite the substantial gains driven partially by the recent hype around artificial intelligence, investors in ETFs are not uniformly rushing to invest in the sector. The movement of money within the technology sector this year has left Todd Sohn, an ETF strategist at Strategas, perplexed. In June 2023, he pointed out the outflow of funds from two major ETFs – the Technology Select Sector SPDR Fund (NYSE:XLK), which mirrors a tech stock index in the S&P 500, and the Invesco QQQ Trust (NASDAQ:QQQ), providing investors exposure to the tech-focused Nasdaq-100 index. Despite both ETFs surging by more than 30% this year following a dismal performance in 2022, Sohn identified the outflows from the Invesco QQQ Trust (NASDAQ:QQQ) in this year as unusual. He noted that even though investors are gravitating toward the smaller, more economical version of the fund, the Invesco NASDAQ 100 ETF (NASDAQ:QQQM), for tech exposure, the substantial gains of the former haven\'t been accompanied by a clear trend of herd behavior. Regarding the Technology Select Sector SPDR Fund (NYSE:XLK), ETF investors seem to still harbor "some skepticism" about the recovery of the U.S. equity market from the harsh downturn of the previous year, Sohn commented. Dave Nadig, a financial futurist at VettaFi, believes that another profitable stretch awaits in the technology and artificial intelligence space. However, he indicated that there are constraints to the potential upside. Nadig forecasted that the sectors set to experience the most significant growth are industrial, robotics, and automation. He commented : “AI is going to have a long-term and significant positive effect on GDP ... [But] it’s very difficult to pick public companies that are going to be the outsized beneficiaries of that. We run into this all the time when we have cool new technology … and we end up buying Google and Microsoft and Apple and Nvidia, which we all already probably own too much of.” NVIDIA Corporation (NASDAQ: NVDA ) CEO Jensen Huang expects that the surge in artificial intelligence will extend well into 2024. To substantiate his optimism, he made what could possibly be the largest individual investment in the technology sector. NVIDIA Corporation (NASDAQ:NVDA)’s Q2 financial results exceeded Wall Street\'s predictions, and the company disclosed intentions to repurchase an additional $25 billion worth of its own common shares – a strategy commonly employed when a company\'s leadership believes its value is underrated. Although NVIDIA Corporation (NASDAQ:NVDA)’s stock price has surged by over threefold this year and was poised to achieve a record peak following Q2 results, the company intends to boost the production of its hardware well into the following year. This has effectively dispelled concerns raised by a few analysts regarding the sustainability of the AI frenzy. Additionally, NVIDIA Corporation (NASDAQ:NVDA) enjoys a near-monopoly over the computing systems that drive services like ChatGPT. Story continues In this article, we discuss some of the best performing technology ETFs in 2023, which offer investors exposure to Broadcom Inc. (NASDAQ: AVGO ), Microsoft Corporation (NASDAQ: MSFT ), and DraftKings Inc. (NASDAQ: DKNG ). Our Methodology We used an ETF screener and filtered out the best performing technology ETFs in 2023 based on year-to-date share price performance. We have also discussed the top holdings of the ETFs to offer better insight to potential investors. These ETFs have amassed significant gains in 2023. The list is ranked in ascending order of the year-to-date share price performance of these technology ETFs as of August 24, 2023. 10 Best Performing Technology ETFs in 2023 Photo by Austin Distel on Unsplash Best Performing Technology ETFs in 2023 10. Invesco QQQ Trust (NASDAQ:QQQ) YTD Share Price Performance as of August 24: 39.82% From its inception in 1999, Invesco QQQ Trust (NASDAQ:QQQ) has consistently shown a track record of strong performance, often surpassing the S&P 500 Index. Invesco QQQ Trust (NASDAQ:QQQ) tracks the Nasdaq-100 Index and includes prominent technology stocks. The fund features an expense ratio of 0.2% and holds 101 stocks in its portfolio. As of August 23, 2023, Invesco QQQ Trust (NASDAQ:QQQ) has $200.91 billion in assets under management. It is one of the best\xa0 performing ETFs in the technology sector. Apple Inc. (NASDAQ: AAPL ) is the largest holding of Invesco QQQ Trust (NASDAQ:QQQ). On August 3, Apple Inc. (NASDAQ:AAPL) announced financial results for its fiscal 2023 third quarter ended July 1, 2023. The company reported earnings per share of $1.26, beating market estimates by $0.07. The revenue came in line with Wall Street consensus at $81.8 billion. According to Insider Monkey’s second quarter database, 135 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL), compared to 131 funds in the preceding quarter. Warren Buffett’s Berkshire Hathaway is the leading position holder in the company, with 915.5 million shares worth $177.6 billion. Like Broadcom Inc. (NASDAQ:AVGO), Microsoft Corporation (NASDAQ:MSFT), and DraftKings Inc. (NASDAQ:DKNG), Apple Inc. (NASDAQ:AAPL) is one of the best technology stocks to buy. Choice Equities Capital Management made the following comment about Apple Inc. (NASDAQ:AAPL) in its second quarter 2023 investor letter: “Dramatic valuation differences across market cap sizes continue. This has been the case for some time now. Perhaps I have spent too much time discussing these dichotomies, as generally, I feel like if we pick the right stocks and manage market exposures thoughtfully, our equities- oriented portfolio will prosper across various market cycles. However, when markets become as lopsided as they have lately, I feel additional discussion on the market environment is worthwhile, if only to help highlight the opportunities that are available and the likely path forward. I expect future discussions to soon be focused again on our moderately concentrated portfolio. But for now, let’s take one last in-depth look at how far reaching these valuation dichotomies have again become.(Please note: charts that accompany the following can be found in the Appendix.) Take Apple Inc. (NASDAQ:AAPL) for example. It is the largest stock by market cap, and fairly considered one of the best companies in the world. The company has been extraordinarily successful and improved standards of living everywhere in the process with their ubiquitous products. Along the way, shareholders have been richly rewarded, with shares increasing nearly fourteen-fold over the last ten years while generating an annualized total shareholder return of 31%, including dividends. On the back of another big quarter for large cap tech, it is now the first stock to surpass the $3T market cap threshold. This makes its weighting in the ~$37T market cap of the S&P 500, ~8%. It also means this one stock’s market cap is larger than that of the entire ~$2.98T market cap of the Russell 2000 index, the first time in history a single stock has outweighed the Russell 2000 – aside from two brief days in September 2020 when Apple’s market cap then accomplished the same…” ( Click here to read the full text ) 9. First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ:QTEC) YTD Share Price Performance as of August 24: 40.33% First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ:QTEC)’s primary goal is to imitate the price and yield performance of the Nasdaq-100 Technology Sector™ Index. The ETF was established on April 19, 2006. As of May 2023, First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ:QTEC) maintains an expense ratio of 0.57% and its total net assets amount to $1.9 billion. It is one of the best performing technology ETFs in 2023, with year-to-date share price gains of 40.3% as of August 24. Lam Research Corporation (NASDAQ: LRCX ), the largest holding of First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ:QTEC), engages in the production, reconditioning, and maintenance of machinery employed in the processing of semiconductors and integrated circuits. On August 24, Lam Research Corporation (NASDAQ:LRCX) declared a $2.00 per share quarterly dividend, a 15.9% increase from its prior dividend of $1.73. The dividend is payable on October 4, to shareholders of record on September 13. According to Insider Monkey’s second quarter database, 69 hedge funds were bullish on Lam Research Corporation (NASDAQ:LRCX), compared to 64 funds in the preceding quarter. Rajiv Jain’s GQG Partners is the largest stakeholder of the company, with 2.35 million shares worth $1.5 billion. Saltlight Capital made the following comment about Lam Research Corporation (NASDAQ:LRCX) in its second quarter 2023 investor letter : “Lam Research Corporation (NASDAQ:LRCX), a leading toolmaker for memory and logic semiconductor fabs, has demonstrated its resilience and competitive positioning in the semiconductor ecosystem. Chip densities are now approaching the limits of physics and Moore’s law is stretched to its atomic limitations. Future innovation is around 3D stacks of chips and advanced packaging. LAM has heavily invested in tools that push innovation at the atomic level. Despite this investment, it requires little shareholder capital to grow and therefore it returns capital through healthy dividends and share repurchases. LAM has been a wonderful performer for us over the last two years.” 8. iShares Expanded Tech Sector ETF (NYSE:IGM) YTD Share Price Performance as of August 24: 41.39% iShares Expanded Tech Sector ETF (NYSE:IGM) aims to replicate the investment outcomes of the S&P North American Expanded Technology Sector Index, which includes technology sector firms in North America, along with companies from communication services and consumer discretionary sectors. iShares Expanded Tech Sector ETF (NYSE:IGM) was established on March 13, 2001. As of August 23, 2023, the ETF holds net assets amounting to $3.20 billion and features an expense ratio of 0.41%. The fund’s portfolio consists of 280 stocks. NVIDIA Corporation (NASDAQ: NVDA ) is the biggest holding of the iShares Expanded Tech Sector ETF (NYSE:IGM). On August 23, NVIDIA Corporation (NASDAQ:NVDA) reported a Q2 non-GAAP EPS of $2.70 and a revenue of $13.51 billion, topping market expectations by $0.61 and $2.43 billion, respectively. According to Insider Monkey’s Q2 data, NVIDIA Corporation (NASDAQ:NVDA) was found in 175 hedge fund portfolios, compared to 132 in the prior quarter. Philippe Laffont’s Coatue Management is a prominent stakeholder of the company, with 4.6 million shares worth nearly $2 billion. Baron Fifth Avenue Growth Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its second quarter 2023 investor letter : “NVIDIA Corporation (NASDAQ:NVDA) Corporation is a fabless semiconductor company focused on designing chips and software for gaming and accelerated computing. Shares continued their torrid first quarter rise, increasing 52.3% in the second quarter (now up 190% year-to-date), after the company reported a meaningful acceleration in demand for its data center GPUs, which drove a material guidance beat with revenues expected to increase from $7.2 billion to approximately $11 billion sequentially. This unprecedented acceleration is driven by growing demand for GenAI. We are at the tipping point of a new era of computing with NVIDIA at its epicenter. While the opportunity within the datacenter installed base is already large at approximately $1 trillion, the pace of innovation in AI in general, and GenAI in particular, should drive a significant expansion in the addressable market, as AI creates a new way for human-computer interaction through language, and as companies are better able to utilize their data for decision-making. We remain shareholders as we believe NVIDIA’s end-to-end AI platform and the ecosystem it has cultivated over the last 15 years will benefit the company for years to come.” 7. ARK Fintech Innovation ETF (NYSE:ARKF) YTD Share Price Performance as of August 24: 41.78% ARK Fintech Innovation ETF (NYSE:ARKF) is an actively managed ETF aiming to attain long-term capital appreciation by investing in domestic and international stocks of firms involved in innovative financial technology. Established on February 4, 2019, ARK Fintech Innovation ETF (NYSE:ARKF) comes with an expense ratio of 0.75%. Its portfolio consists of around 35-55 stocks. ARK Fintech Innovation ETF (NYSE:ARKF) is one of the top performing technology ETFs this year. Crypto giant Coinbase Global, Inc. (NASDAQ:COIN) is the largest holding of ARK Fintech Innovation ETF (NYSE:ARKF). On August 21, Coinbase Global, Inc. (NASDAQ:COIN) announced that it is investing in Circle, the company behind the creation of USD Coin, a stablecoin pegged to the US dollar. This move by Coinbase Global, Inc. (NASDAQ:COIN) demonstrates its support for stablecoins. According to Insider Monkey’s second quarter database, Coinbase Global, Inc. (NASDAQ:COIN) was part of 27 hedge fund portfolios, compared to 28 in the earlier quarter. Cathie Wood’s ARK Investment Management is the biggest stakeholder of the company, with 12.12 million shares worth $867.3 million. Here is what Hayden Capital has to say about Coinbase Global, Inc. (NASDAQ:COIN) in its Q2 2022 investor letter: “Coinbase (NASDAQ:COIN): The crypto ecosystem moves extremely quickly, and there’s been many new developments since we first invested in Coinbase, a year ago. Most notably, crypto market cap has declined from a peak of ~$3 Trillion last fall, to ~$1.1 Trillion today (a -63% decline, and -72% peak-to-trough; LINK). Crypto is a volatile asset class, and has experienced many draw-downs of similar magnitude in the past. For example, Bitcoin was down -93% during 2011, -85% from 2013-15, and -84% from 2017-18. In this context, the latest draw-down is a pretty normal outcome for this emerging asset class. A large reason for this volatility is simply because there aren’t any major “real-world use cases” for the asset just yet. In our letter outlining the investment last year, we wrote that crypto is still “in the middle of ‘crossing the chasm’ into mainstream adoption & use cases, which will result in millions of mainstream users needing to transact crypto in some form”…” ( Click here to see the full text ) 6. SPDR NYSE Technology ETF (NYSE:XNTK) YTD Share Price Performance as of August 24: 44.86% SPDR NYSE Technology ETF (NYSE:XNTK)’s objective is to achieve investment outcomes that, prior to deducting fees and costs, closely match the overall return performance of the NYSE Technology Index. This index includes equities within the information technology sector as well as technology-related stocks within the consumer discretionary sector. As of August 24, 2023, the ETF comes with an expense ratio of 0.35%. Its portfolio consists of 35 stocks. SPDR NYSE Technology ETF (NYSE:XNTK) is one of the best performing technology ETFs in 2023. Meta Platforms, Inc. (NASDAQ: META ) is one of the top holdings of SPDR NYSE Technology ETF (NYSE:XNTK). Following its strong performance in the second quarter and the positive guidance provided, Wall Street analysts showered Meta Platforms, Inc. (NASDAQ:META) with praise. On July 27, Ronald Josey, a Citi analyst, reaffirmed a Buy recommendation on Meta Platforms, Inc. (NASDAQ:META). He highlighted the impressive reception of fresh advertising formats such as Sponsored Reels and the popularity of Click-to-WhatsApp among advertisers. According to Insider Monkey’s second quarter database, 225 hedge funds were long Meta Platforms, Inc. (NASDAQ:META), compared to 220 funds in the prior quarter. Chase Coleman’s Tiger Global Management is the leading stakeholder of the company, with 8.5 million shares worth $2.45 billion. In addition to Broadcom Inc. (NASDAQ:AVGO), Microsoft Corporation (NASDAQ:MSFT), and DraftKings Inc. (NASDAQ:DKNG), Meta Platforms, Inc. (NASDAQ:META) is one of the best tech stocks to invest in. Giverny Capital Asset Management made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its second quarter 2023 investor letter : “I have believed for a while that we’re better served with a lower weight to the tech giants – we own Alphabet (8.1% of our model portfolio at the end of June) and Meta Platforms, Inc. (NASDAQ:META) (5.2%) for a 13.3% exposure, or about half the Index’s weight in the giants. And while Alphabet’s 36% return for the first half and Meta’s 138% return were gratefully received, I’m pleased to report that if we strip out that contribution to our overall return, the other 23 stocks we own, constituting 85% of our portfolio (with cash making up the balance), were up 10.2% on a weighted basis. GCAM owns two of the seven tech mega caps in Alphabet and Meta, and they enjoyed similar rises. As mentioned, Alphabet A&C shares rose 36% while Meta rose 138%. Together, they added 2.38 percentage points to the overall Index return, meaning these seven tech giants cumulatively generated 12.4 percentage points of return, or roughly three-quarters of the Index’s return. Alphabet and Meta combined sport a $2.25 trillion market cap and between them should generate roughly $120 billion of pretax profit this year. That’s a multiple of 19 times pretax profit, a substantial discount to Microsoft and Apple, and an even larger discount to Amazon, Nvidia and Tesla.” Click to continue reading and see 5 Best Performing Technology ETFs in 2023 . Suggested articles: Long-Term Returns of Keith Meister\'s Activist Targets 11 Most Undervalued Dow Stocks To Buy According To Hedge Funds 11 Most Undervalued REIT Stocks to Buy Disclosure: None. 10 Best Performing Technology ETFs in 2023 is originally published on Insider Monkey. View comments', 'In this article, we discuss 10 best performing technology ETFs in 2023. If you want to skip our discussion on the current technology landscape, head directly to5 Best Performing Technology ETFs in 2023.\nIn 2023, technology stocks are experiencing a strong surge in value following a significant decline in 2022. However, despite the substantial gains driven partially by the recent hype around artificial intelligence, investors in ETFs are not uniformly rushing to invest in the sector. The movement of money within the technology sector this year has left Todd Sohn, an ETF strategist at Strategas, perplexed. In June 2023, hepointedout the outflow of funds from two major ETFs – the Technology Select Sector SPDR Fund (NYSE:XLK), which mirrors a tech stock index in the S&P 500, and the Invesco QQQ Trust (NASDAQ:QQQ), providing investors exposure to the tech-focused Nasdaq-100 index. Despite both ETFs surging by more than 30% this year following a dismal performance in 2022, Sohn identified the outflows from the Invesco QQQ Trust (NASDAQ:QQQ) in this year as unusual. He noted that even though investors are gravitating toward the smaller, more economical version of the fund, the Invesco NASDAQ 100 ETF (NASDAQ:QQQM), for tech exposure, the substantial gains of the former haven\'t been accompanied by a clear trend of herd behavior. Regarding the Technology Select Sector SPDR Fund (NYSE:XLK), ETF investors seem to still harbor "some skepticism" about the recovery of the U.S. equity market from the harsh downturn of the previous year, Sohn commented.\nDave Nadig, a financial futurist at VettaFi, believes that another profitable stretch awaits in the technology and artificial intelligence space. However, he indicated that there are constraints to the potential upside. Nadig forecasted that the sectors set to experience the most significant growth are industrial, robotics, and automation. Hecommented:\n“AI is going to have a long-term and significant positive effect on GDP ... [But] it’s very difficult to pick public companies that are going to be the outsized beneficiaries of that. We run into this all the time when we have cool new technology … and we end up buying Google and Microsoft and Apple and Nvidia, which we all already probably own too much of.”\nNVIDIA Corporation (NASDAQ:NVDA) CEO Jensen Huangexpectsthat the surge in artificial intelligence will extend well into 2024. To substantiate his optimism, he made what could possibly be the largest individual investment in the technology sector. NVIDIA Corporation (NASDAQ:NVDA)’s Q2 financial results exceeded Wall Street\'s predictions, and the company disclosed intentions to repurchase an additional $25 billion worth of its own common shares – a strategy commonly employed when a company\'s leadership believes its value is underrated. Although NVIDIA Corporation (NASDAQ:NVDA)’s stock price has surged by over threefold this year and was poised to achieve a record peak following Q2 results, the company intends to boost the production of its hardware well into the following year. This has effectively dispelled concerns raised by a few analysts regarding the sustainability of the AI frenzy. Additionally, NVIDIA Corporation (NASDAQ:NVDA) enjoys a near-monopoly over the computing systems that drive services like ChatGPT.\nIn this article, we discuss some of the best performing technology ETFs in 2023, which offer investors exposure to Broadcom Inc. (NASDAQ:AVGO), Microsoft Corporation (NASDAQ:MSFT), and DraftKings Inc. (NASDAQ:DKNG).\nOur Methodology\nWe used an ETF screener and filtered out the best performing technology ETFs in 2023 based on year-to-date share price performance. We have also discussed the top holdings of the ETFs to offer better insight to potential investors. These ETFs have amassed significant gains in 2023. The list is ranked in ascending order of the year-to-date share price performance of these technology ETFs as of August 24, 2023.\nPhoto byAustin DistelonUnsplash\nYTD Share Price Performance as of August 24: 39.82%\nFrom its inception in 1999, Invesco QQQ Trust (NASDAQ:QQQ) has consistently shown a track record of strong performance, often surpassing the S&P 500 Index. Invesco QQQ Trust (NASDAQ:QQQ) tracks the Nasdaq-100 Index and includes prominent technology stocks. The fund features an expense ratio of 0.2% and holds 101 stocks in its portfolio. As of August 23, 2023, Invesco QQQ Trust (NASDAQ:QQQ) has $200.91 billion in assets under management. It is one of the best\xa0 performing ETFs in the technology sector.\nApple Inc. (NASDAQ:AAPL) is the largest holding of Invesco QQQ Trust (NASDAQ:QQQ). On August 3, Apple Inc. (NASDAQ:AAPL) announced financial results for its fiscal 2023 third quarter ended July 1, 2023. The company reported earnings per share of $1.26, beating market estimates by $0.07. The revenue came in line with Wall Street consensus at $81.8 billion.\nAccording to Insider Monkey’s second quarter database, 135 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL), compared to 131 funds in the preceding quarter. Warren Buffett’sBerkshire Hathawayis the leading position holder in the company, with 915.5 million shares worth $177.6 billion.\nLike Broadcom Inc. (NASDAQ:AVGO), Microsoft Corporation (NASDAQ:MSFT), and DraftKings Inc. (NASDAQ:DKNG), Apple Inc. (NASDAQ:AAPL) is one of the best technology stocks to buy.\nChoice Equities Capital Management made thefollowingcomment about Apple Inc. (NASDAQ:AAPL) in its second quarter 2023 investor letter:\n“Dramatic valuation differences across market cap sizes continue. This has been the case for some time now. Perhaps I have spent too much time discussing these dichotomies, as generally, I feel like if we pick the right stocks and manage market exposures thoughtfully, our equities- oriented portfolio will prosper across various market cycles. However, when markets become as lopsided as they have lately, I feel additional discussion on the market environment is worthwhile, if only to help highlight the opportunities that are available and the likely path forward. I expect future discussions to soon be focused again on our moderately concentrated portfolio. But for now, let’s take one last in-depth look at how far reaching these valuation dichotomies have again become.(Please note: charts that accompany the following can be found in the Appendix.)\nYTD Share Price Performance as of August 24: 40.33%\nFirst Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ:QTEC)’s primary goal is to imitate the price and yield performance of the Nasdaq-100 Technology Sector™ Index. The ETF was established on April 19, 2006. As of May 2023, First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ:QTEC) maintains an expense ratio of 0.57% and its total net assets amount to $1.9 billion. It is one of the best performing technology ETFs in 2023, with year-to-date share price gains of 40.3% as of August 24.\nLam Research Corporation (NASDAQ:LRCX), the largest holding of First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ:QTEC), engages in the production, reconditioning, and maintenance of machinery employed in the processing of semiconductors and integrated circuits. On August 24, Lam Research Corporation (NASDAQ:LRCX) declared a $2.00 per share quarterly dividend, a 15.9% increase from its prior dividend of $1.73. The dividend is payable on October 4, to shareholders of record on September 13.\nAccording to Insider Monkey’s second quarter database, 69 hedge funds were bullish on Lam Research Corporation (NASDAQ:LRCX), compared to 64 funds in the preceding quarter. Rajiv Jain’sGQG Partnersis the largest stakeholder of the company, with 2.35 million shares worth $1.5 billion.\nSaltlight Capital made the following comment about Lam Research Corporation (NASDAQ:LRCX) in its second quarter 2023 investorletter:\n“Lam Research Corporation (NASDAQ:LRCX), a leading toolmaker for memory and logic semiconductor fabs, has demonstrated its resilience and competitive positioning in the semiconductor ecosystem. Chip densities are now approaching the limits of physics and Moore’s law is stretched to its atomic limitations. Future innovation is around 3D stacks of chips and advanced packaging. LAM has heavily invested in tools that push innovation at the atomic level. Despite this investment, it requires little shareholder capital to grow and therefore it returns capital through healthy dividends and share repurchases. LAM has been a wonderful performer for us over the last two years.”\nYTD Share Price Performance as of August 24: 41.39%\niShares Expanded Tech Sector ETF (NYSE:IGM) aims to replicate the investment outcomes of the S&P North American Expanded Technology Sector Index, which includes technology sector firms in North America, along with companies from communication services and consumer discretionary sectors. iShares Expanded Tech Sector ETF (NYSE:IGM) was established on March 13, 2001. As of August 23, 2023, the ETF holds net assets amounting to $3.20 billion and features an expense ratio of 0.41%. The fund’s portfolio consists of 280 stocks.\nNVIDIA Corporation (NASDAQ:NVDA) is the biggest holding of the iShares Expanded Tech Sector ETF (NYSE:IGM). On August 23, NVIDIA Corporation (NASDAQ:NVDA) reported a Q2 non-GAAP EPS of $2.70 and a revenue of $13.51 billion, topping market expectations by $0.61 and $2.43 billion, respectively.\nAccording to Insider Monkey’s Q2 data, NVIDIA Corporation (NASDAQ:NVDA) was found in 175 hedge fund portfolios, compared to 132 in the prior quarter. Philippe Laffont’sCoatue Managementis a prominent stakeholder of the company, with 4.6 million shares worth nearly $2 billion.\nBaron Fifth Avenue Growth Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its second quarter 2023 investorletter:\n“NVIDIA Corporation (NASDAQ:NVDA) Corporation is a fabless semiconductor company focused on designing chips and software for gaming and accelerated computing. Shares continued their torrid first quarter rise, increasing 52.3% in the second quarter (now up 190% year-to-date), after the company reported a meaningful acceleration in demand for its data center GPUs, which drove a material guidance beat with revenues expected to increase from $7.2 billion to approximately $11 billion sequentially. This unprecedented acceleration is driven by growing demand for GenAI. We are at the tipping point of a new era of computing with NVIDIA at its epicenter. While the opportunity within the datacenter installed base is already large at approximately $1 trillion, the pace of innovation in AI in general, and GenAI in particular, should drive a significant expansion in the addressable market, as AI creates a new way for human-computer interaction through language, and as companies are better able to utilize their data for decision-making. We remain shareholders as we believe NVIDIA’s end-to-end AI platform and the ecosystem it has cultivated over the last 15 years will benefit the company for years to come.”\nYTD Share Price Performance as of August 24: 41.78%\nARK Fintech Innovation ETF (NYSE:ARKF) is an actively managed ETF aiming to attain long-term capital appreciation by investing in domestic and international stocks of firms involved in innovative financial technology. Established on February 4, 2019, ARK Fintech Innovation ETF (NYSE:ARKF) comes with an expense ratio of 0.75%. Its portfolio consists of around 35-55 stocks. ARK Fintech Innovation ETF (NYSE:ARKF) is one of the top performing technology ETFs this year.\nCrypto giant Coinbase Global, Inc. (NASDAQ:COIN) is the largest holding of ARK Fintech Innovation ETF (NYSE:ARKF). On August 21, Coinbase Global, Inc. (NASDAQ:COIN) announced that it is investing in Circle, the company behind the creation of USD Coin, a stablecoin pegged to the US dollar. This move by Coinbase Global, Inc. (NASDAQ:COIN) demonstrates its support for stablecoins.\nAccording to Insider Monkey’s second quarter database, Coinbase Global, Inc. (NASDAQ:COIN) was part of 27 hedge fund portfolios, compared to 28 in the earlier quarter. Cathie Wood’sARK Investment Managementis the biggest stakeholder of the company, with 12.12 million shares worth $867.3 million.\nHereis what Hayden Capital has to say about Coinbase Global, Inc. (NASDAQ:COIN) in its Q2 2022 investor letter:\n“Coinbase (NASDAQ:COIN): The crypto ecosystem moves extremely quickly, and there’s been many new developments since we first invested in Coinbase, a year ago. Most notably, crypto market cap has declined from a peak of ~$3 Trillion last fall, to ~$1.1 Trillion today (a -63% decline, and -72% peak-to-trough; LINK). Crypto is a volatile asset class, and has experienced many draw-downs of similar magnitude in the past. For example, Bitcoin was down -93% during 2011, -85% from 2013-15, and -84% from 2017-18. In this context, the latest draw-down is a pretty normal outcome for this emerging asset class.\nYTD Share Price Performance as of August 24: 44.86%\nSPDR NYSE Technology ETF (NYSE:XNTK)’s objective is to achieve investment outcomes that, prior to deducting fees and costs, closely match the overall return performance of the NYSE Technology Index. This index includes equities within the information technology sector as well as technology-related stocks within the consumer discretionary sector. As of August 24, 2023, the ETF comes with an expense ratio of 0.35%. Its portfolio consists of 35 stocks. SPDR NYSE Technology ETF (NYSE:XNTK) is one of the best performing technology ETFs in 2023.\nMeta Platforms, Inc. (NASDAQ:META) is one of the top holdings of SPDR NYSE Technology ETF (NYSE:XNTK). Following its strong performance in the second quarter and the positive guidance provided, Wall Street analysts showered Meta Platforms, Inc. (NASDAQ:META) with praise. On July 27, Ronald Josey, a Citi analyst, reaffirmed a Buy recommendation on Meta Platforms, Inc. (NASDAQ:META). He highlighted the impressive reception of fresh advertising formats such as Sponsored Reels and the popularity of Click-to-WhatsApp among advertisers.\nAccording to Insider Monkey’s second quarter database, 225 hedge funds were long Meta Platforms, Inc. (NASDAQ:META), compared to 220 funds in the prior quarter. Chase Coleman’sTiger Global Managementis the leading stakeholder of the company, with 8.5 million shares worth $2.45 billion.\nIn addition to Broadcom Inc. (NASDAQ:AVGO), Microsoft Corporation (NASDAQ:MSFT), and DraftKings Inc. (NASDAQ:DKNG), Meta Platforms, Inc. (NASDAQ:META) is one of the best tech stocks to invest in.\nGiverny Capital Asset Management made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its second quarter 2023 investorletter:\n“I have believed for a while that we’re better served with a lower weight to the tech giants – we own Alphabet (8.1% of our model portfolio at the end of June) and Meta Platforms, Inc. (NASDAQ:META) (5.2%) for a 13.3% exposure, or about half the Index’s weight in the giants. And while Alphabet’s 36% return for the first half and Meta’s 138% return were gratefully received, I’m pleased to report that if we strip out that contribution to our overall return, the other 23 stocks we own, constituting 85% of our portfolio (with cash making up the balance), were up 10.2% on a weighted basis.\nClick to continue reading and see5 Best Performing Technology ETFs in 2023.\nSuggested articles:\n• Long-Term Returns of Keith Meister\'s Activist Targets\n• 11 Most Undervalued Dow Stocks To Buy According To Hedge Funds\n• 11 Most Undervalued REIT Stocks to Buy\nDisclosure: None.10 Best Performing Technology ETFs in 2023is originally published on Insider Monkey.', 'Hello, folks, and welcome to Week in Review (WiR), TechCrunch\'s regular newsletter that covers the biggest happenings in tech over the past few days. Haven\'t been able to follow the news closely? Don\'t sweat it. WiR will get you up to speed.\nIn this edition of WiR, we cover Microsoft bringing Python to Excel, Cruise being forced to reduce its robotaxi fleet following a crash, and Amazon launching its new Fire TV Channels app. We also recap Twitter competitor Bluesky buckling under load, influencer MrBeast\'s poorly timed Olympics video, IBM building a code translator for COBOL, and Snapchat expanding further into generative AI.\nIf you haven’t already,sign up hereto get WiR in your inbox every Saturday. Now, without further ado, here\'s the week\'s news!\nMicrosoft brings Python to Excel:Microsoft this weekannouncedthe public preview of Python in Excel, which will allow advanced spreadsheet users to combine scripts in the popular Python language and their usual Excel formulas in the same workbook. The feature will first roll out to Microsoft 365 Insiders as part of the Excel for Windows beta channel, Frederic reports.\nCruise told to reduce fleet following crash:Cruise, the self-driving car subsidiary of GM, has been asked by the California Department of Motor Vehicles to reduce its robotaxi fleet by 50% in San Franciscofollowing a crashThursday night with a fire truck.\nMrBeast\'s geopolitical nightmare:Billionaire creator MrBeast inadvertently stoked generations of geopolitical tension in his latest YouTube video, in which participants from "every country on Earth" competed in "Squid Game"-like elimination challenges for a chance to win $250,000. It was the countries that weren’t included in the competition, as well as the map featured in the video, that made the stunt ripe for discourse.\nIBM taps AI to translate COBOL code:IBM this weekunveiledCode Assistant for IBM Z, which uses a code-generating AI model to translate COBOL (one of the older programming languages in use)into Java syntax. It\'s potentially quite handy, consideringthere’s over 800 billion lines of COBOL in use on production systems and a strong desire among many of the companies using it to migrate to more modern languages.\nAmazon launches Fire TV Channels app:AmazonannouncedMonday the launch of its new Fire TV Channels app, giving Fire TV customers access to over 400 free ad-supported TV channels, including ABC News, CBS Sports, Fox Sports, MLB, Martha Stewart and more.\nBluesky struggles with growing popularity:X (formerly Twitter) competitorBlueskybuckled following Elon Musk’s announcement thatX will no longer support blocking usersin favor of mutes only. The company has often had to deal with an influx of users when Twitter announces particularly unwelcome changes, Sarah writes.\nSnapchat adds new generative AI features:Snapchat is preparing to further expand into generative AI features, after earlier launching its AI-powered chatbot My AI, which can nowrespond with a Snap back, not just text. With the company’s forthcoming generative AI feature called "Dreams," Snap will again experiment with AI images -- but soon, those images may contain you and your friends in imaginative backgrounds.\nPhone hacking company tries to keep tech secret:For years, cops and other government authorities all over the world have been using phone hacking technology provided by Cellebrite to unlock phones and obtain the data within. And the company has been keen on keeping the use of its technology "hush hush," Lorenzo reports.\nHave a hankering for new podcast content? You\'re in luck. TechCrunch has plenty on deck for your listening enjoyment.\nOnEquity, the crew discussed Nvidia\'s earnings report, raises from Ramp and AI-powered writing platform Lex, Northvolt\'s move to North America, the story behind Better.com\'s IPO and startups that are literally full of crap (it\'ll make sense once you listen -- trust me).\nMeanwhile,Foundfocused on Feyi Ayodele, the co-founder and CEO of CancerIQ, a precision health company designed for physicians to help their patients with monitoring cancer risk and prevention. Ayodele recounted how she came up with the startup idea while hiking Mount Kilimanjaro with her mother.\nAnd onChain Reaction, Erik Svenson talked about Blockstream, a bitcoin and blockchain-focused infrastructure firm that he helped co-found in 2014. Blockstream has its own sidechain technology, Liquid Network, as well as bitcoin mining operations and hardware wallets for Bitcoin and other assets.\nTC+ subscribers get access to in-depth commentary, analysis and surveys — which you know if you’re already a subscriber. If you’re not,consider signing up. Here are a few highlights from this week:\nOnlyFans proves the creator economy boom was real:Venture capital investment into the creator economy categoryslowed down significantlystarting in the second half of 2022. But Ron and Anna write about how OnlyFans\' profitability suggests that there\'s juice in the sector yet.\nNvidia rides the AI wave -- but for how long?:When Nvidia announced eye-popping earnings on Wednesday with three-digit year-over-year growth, it was easy to get caught up in the excitement. But the lingering question is, can it keep it up?\nThe late-stage venture market is crumbling:New data from CB Insights details that there have been sharp valuation declines across nearly every startup stage around the world. But is that a reason for panic? Alex and Anna don\'t think so -- at least not now.\nJoin 10,000 startup leaders in San Francisco at TechCrunch Disrupt on September 19–21. Last-minute passes are still available. Save 15% with code WIR.Register now!', 'Hello, folks, and welcome to Week in Review (WiR), TechCrunch\'s regular newsletter that covers the biggest happenings in tech over the past few days. Haven\'t been able to follow the news closely? Don\'t sweat it. WiR will get you up to speed. In this edition of WiR, we cover Microsoft bringing Python to Excel, Cruise being forced to reduce its robotaxi fleet following a crash, and Amazon launching its new Fire TV Channels app. We also recap Twitter competitor Bluesky buckling under load, influencer MrBeast\'s poorly timed Olympics video, IBM building a code translator for COBOL, and Snapchat expanding further into generative AI. If you haven’t already, sign up here to get WiR in your inbox every Saturday. Now, without further ado, here\'s the week\'s news! Most read Microsoft brings Python to Excel: Microsoft this week announced the public preview of Python in Excel, which will allow advanced spreadsheet users to combine scripts in the popular Python language and their usual Excel formulas in the same workbook. The feature will first roll out to Microsoft 365 Insiders as part of the Excel for Windows beta channel, Frederic reports. Cruise told to reduce fleet following crash: Cruise, the self-driving car subsidiary of GM, has been asked by the California Department of Motor Vehicles to reduce its robotaxi fleet by 50% in San Francisco following a crash Thursday night with a fire truck. MrBeast\'s geopolitical nightmare: Billionaire creator MrBeast inadvertently stoked generations of geopolitical tension in his latest YouTube video, in which participants from "every country on Earth" competed in "Squid Game"-like elimination challenges for a chance to win $250,000. It was the countries that weren’t included in the competition, as well as the map featured in the video, that made the stunt ripe for discourse. IBM taps AI to translate COBOL code: IBM this week unveiled Code Assistant for IBM Z, which uses a code-generating AI model to translate COBOL (one of the older programming languages in use) into Java syntax. It\'s potentially quite handy, considering there’s over 800 billion lines of COBOL in use on production systems and a strong desire among many of the companies using it to migrate to more modern languages. Story continues Amazon launches Fire TV Channels app: Amazon announced Monday the launch of its new Fire TV Channels app, giving Fire TV customers access to over 400 free ad-supported TV channels, including ABC News, CBS Sports, Fox Sports, MLB, Martha Stewart and more. Bluesky struggles with growing popularity: X (formerly Twitter) competitor Bluesky buckled following Elon Musk’s announcement that X will no longer support blocking users in favor of mutes only. The company has often had to deal with an influx of users when Twitter announces particularly unwelcome changes, Sarah writes. Snapchat adds new generative AI features: Snapchat is preparing to further expand into generative AI features, after earlier launching its AI-powered chatbot My AI, which can now respond with a Snap back , not just text. With the company’s forthcoming generative AI feature called "Dreams," Snap will again experiment with AI images -- but soon, those images may contain you and your friends in imaginative backgrounds. Phone hacking company tries to keep tech secret: For years, cops and other government authorities all over the world have been using phone hacking technology provided by Cellebrite to unlock phones and obtain the data within. And the company has been keen on keeping the use of its technology "hush hush," Lorenzo reports. Audio Have a hankering for new podcast content? You\'re in luck. TechCrunch has plenty on deck for your listening enjoyment. On Equity , the crew discussed Nvidia\'s earnings report, raises from Ramp and AI-powered writing platform Lex, Northvolt\'s move to North America, the story behind Better.com\'s IPO and startups that are literally full of crap (it\'ll make sense once you listen -- trust me). Meanwhile, Found focused on Feyi Ayodele, the co-founder and CEO of CancerIQ, a precision health comp
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-26
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $507,228,553,738
- Hash Rate: 378799106.9943814
- Transaction Count: 497513.0
- Unique Addresses: 747932.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.38
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Crypto investors will be eyeing a flurry of U.S. jobs, housing and other macroeconomic data this week for signs of their dream scenario: that inflation is waning without casting the economy into a steep recession.
To be sure, even a continuation of recent encouraging signs, including last Wednesday’s slightly more than expected drop in the Consumer Price Index (CPI), is unlikely to stir the U.S. central bank from its plan to raise the interest rate by 25 basis points (bps). The Federal Open Market Committee (FOMC) begins its nexttwo–day policy meeting, during which it will come to a rate decision, on July 25.
The FedWatch tool, which gauges sentiment about interest rate decisions, has risen above 97%, up slightly from its already lofty perch in recent weeks, and multiple bank officials have maintained that inflation remains a threat to the economy, even after halting rate increases last month. Monetary hawkishness has tended to weigh on crypto prices, raising investor angst about central bank overstep.
Read More:Bitcoin Dips Below $30K to Lowest Since Late June as Altcoins Pare Gains From XRP Lawsuit
Last week’s 3.1% reading, which continued a downward trend, left crypto markets largely unmoved (a partly favorable court decision about Ripple’s XRP had a greater impact), as did the following day’s mildly encouraging Producer Price Index (PPI) for June and a few faint signs earlier this month that the job market is cooling.
This week will include retail, industrial productivity and home sales, along with the usual weekly jobless claims.
On Tuesday, the U.S. Commerce Department releases June retail sales, with consensus for a 0.5% rise, up from last May’s 0.3% reading, which beat expectations. Continued growth suggests that consumers are continuing to spend on household and other goods, a sign of the sort of economic expansion that leads to higher prices.
The same day, the Fed releases Industrial Production figures that will offer an additional snapshot of economic growth in May. Industrial Production ticked down 0.2% in May after rising the previous two months.
On Thursday, the Labor Department will release weekly jobless claims. Expectations are for 240,000 unemployment claims, up from last week’s 237,000 total. The number of claims has recently been hovering comfortably above 200,000 even as observers of the unemployment market look for more sizeable increases that would indicate a cooling of the hot job market.
Also on Thursday, the National Association of Realtors, a trade group, publishes its June report on existing home sales with expectations for the market to continue slowing. A robust housing market has contributed to inflationary pressure.In May, existing home sales inched up 0.2% but were off 20% from the previous year, same month, while the median sale price of $396,100 was down 3.1%.
The earnings season for big banks started largely favorably last week with JPMorgan Chase net income and revenue surging 67% and 34%, respectively. This week, Bank of America (BAC), Morgan Stanley (MS), Charles Schwab (SCHW), PNC Financial Services (PNC), and Bank of New York Mellon (BK) will report on Tuesday, while Goldman Sachs (GS) will report the following day....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["(Bloomberg) -- Blink and you’ll probably miss the latest crypto fad.\nMost Read from Bloomberg\n• UBS Flags Cost Cuts After $29 Billion Credit Suisse Windfall\n• Europe's Biggest Oil Company Quietly Shelves a Radical Plan to Shrink Its Carbon Footprint\n• Hong Kong to Shut Down City Before Super Typhoon Saola Hits\n• US Health Officials Urge Moving Pot to Lower-Risk Category\n• Putin Moves to Seize Control of Wagner’s Mercenary Empire\nA hot new social-media project that enlivened an otherwise dull summer for digital-asset traders is already beginning to fizzle out, after reaching a peak that at one point made it the highest-earning service provider in decentralized finance.\nIt’s called friend.tech, a blockchain-based platform that allows users to buy and sell digital tokens linked to their favorite influencers on X (formerly Twitter), which act as a gateway to communicate with other backers in dedicated group chats. Early creators on the platform include crypto personalities like Cobie and HsakaTrades, as well as Milwaukee Bucks basketball player Grayson Allen and Y Combinator CEO Garry Tan.\nLess than two weeks after its Aug. 10 debut, fees on friend.tech — where 10% of every token purchase or sale gets split between the influencer and the platform — rose to a high of almost $1.7 million, according to data from DeFiLlama. That height, reached on Tuesday, made friend.tech the highest-earning platform after the Ethereum blockchain itself at one point, with the app generating around $7.5 million in fees since its launch as of Friday, per a Dune Analytics dashboard tracked by crypto asset manager 21.co.\nBut as quickly as its rise began, the hype soon diminished. Fees began to droop, and were nearly 70% lower by Friday compared to Tuesday’s peak. The number of new users joining the platform daily also tanked, falling from 20,360 new accounts on Monday to just 4,484 on Friday — a decrease of almost 80%. The precise cause of friend.tech’s fading star is not yet known, though a report from crypto research firm Messari noted user gripes regarding “high trading fees, slow load times and a steep pricing curve” which determines how tokens on friend.tech are valued.\nThe premise of friend.tech relies on the outsize role that personalities on platforms like X play in the success or failure of new crypto startups, making them an appealing target for monetization. Social media is also a hotly contested area of development in crypto, with the likes of Aave’s Lens Protocol and Twitter co-founder Jack Dorsey’s BlueSky among those to have launched in the last year.\nRead more: Crypto Wants to Save Social Media\nBut so far, friend.tech has turned out to be subject to the same speculative mania that often tails new crypto projects, making it more like Dogecoin than a vibrant social-media platform. Even venture capitalists are wondering whether every idea requires a level of speculation in order to be successful in the current market.\n“The nature of crypto bakes ownership in as a feature. It’s an alternative to the advertising model that drove the tech giants,” Simon Taylor, head of strategy at fraud prevention startup Sardine, said in a message. “The upside is more privacy and potentially a share in growth. The risk is speculative games.”\nTeething Problems\nFriend.tech runs on Coinbase’s new blockchain network Base, with its early runaway success representing a rare bright spot on a chain that’s been flooded by token scams since its launch. The dramatic spike in activity, mostly generated by automated trading bots seeking to capitalize on friend.tech’s meteoric rise, also juiced Base’s transactions per second to briefly surpass that of Ethereum.\nThe app has also begun to attract creators from platforms such as OnlyFans, a subscription-based service which similarly permits access to private group chats as well as exclusive content. But even in its short life, friend.tech is already experiencing problems.\nInfluencer tokens, originally called “shares,” were renamed by friend.tech’s developers on Monday as “keys” — a move that was likely an attempt to distance them from securities rules after eagle-eyed lawyers noted the possible overlap with US regulators’ current crackdown on such assets. Criticism has also mounted from traders over friend.tech’s lack of a privacy policy — a core requirement for any platform in the modern era.\nAnd those same bots that drove the spike in transactions on friend.tech are contributing most to the platform’s subsequent downturn, according to 21.co’s Tom Wan. Automated bots can manipulate the order in which a transaction happens, so when an influencer tries to make their first key, bots are able to get ahead and buy it before them at the cheapest price possible. Creators are then left to buy their key at a higher price on the market, disincentivizing them in the process. The same can happen in the secondary market, forcing legitimate users to have to pay a higher fee to acquire the same stake.\nTrack Record\nSome have likened friend.tech’s model — where its underlying structure of only providing creators with a cut of token transactions means they don’t have much incentive to stick around past the initial sale — to nonfungible tokens. NFTs themselves have a poor track record in this regard, with one of their main selling points — the ability for creators to earn ongoing royalties long after the first sale — largely failing to materialize and, in some cases, being slashed or blocked altogether. Overall, NFT sales at the start of this month were down more than 95% since the sector’s January 2022 peak at $288 million, per CryptoSlam data.\nThe idea of tokenizing famous crypto personalities and allowing users to buy shares in them is nothing new, either. An Andreessen Horowitz and Sequoia-backed platform known as BitClout attempted a similar endeavor in 2021, quickly racking up almost $170 million worth of Bitcoin from investors and users after reserving thousands of accounts for influencers in advance. It soon encountered legal backlash after one of those influencers disputed BitClout’s use of their information without consent, and the company later underwent its own rebrand.\nUltimately, friend.tech’s main problem goes to the heart of what’s been crypto’s top problem all along: providing a utility that encourages user stickiness beyond the ability to speculate. Already, others are developing tools on top of friend.tech to help game that financial system: tips on how to pick out the next biggest riser, a trader leaderboard and token price charts.\n“In its current form, you’re basically looking at an unintended Ponzi with first in/first out because there isn’t any product feature depth to create stickiness or retention,” said Ryan Wyatt, former president of Polygon Labs, in a post on X.\n“There is undoubtedly interesting social [and] crypto loops to explore here,” he added. “But call a spade a spade, we know how these things play out in the absence of a sticky product with real value.”\nIf the platform can’t find a way to encourage those who aren’t crypto natives to find some benefit from the service, then it’s likely to go the same way as everything else in this industry once a newer, shinier novelty comes along — into the ether.\n--With assistance from Philip Brian Tabuas.\nMost Read from Bloomberg Businessweek\n• America Is the World Leader in Locking People Up. One City Found a Fix\n• How a Tiny Mexican Border City Built a Budget Dental Empire\n• Is Carlos Alcaraz the Next Billion-Dollar Tennis Player?\n• The Hostile Takeover of Blue Cities by Red States\n• Can You Name These Cities?\n©2023 Bloomberg L.P.", "(Bloomberg) -- Blink and you’ll probably miss the latest crypto fad. Most Read from Bloomberg UBS Flags Cost Cuts After $29 Billion Credit Suisse Windfall Europe's Biggest Oil Company Quietly Shelves a Radical Plan to Shrink Its Carbon Footprint Hong Kong to Shut Down City Before Super Typhoon Saola Hits US Health Officials Urge Moving Pot to Lower-Risk Category Putin Moves to Seize Control of Wagner’s Mercenary Empire A hot new social-media project that enlivened an otherwise dull summer for digital-asset traders is already beginning to fizzle out, after reaching a peak that at one point made it the highest-earning service provider in decentralized finance. It’s called friend.tech, a blockchain-based platform that allows users to buy and sell digital tokens linked to their favorite influencers on X (formerly Twitter), which act as a gateway to communicate with other backers in dedicated group chats. Early creators on the platform include crypto personalities like Cobie and HsakaTrades, as well as Milwaukee Bucks basketball player Grayson Allen and Y Combinator CEO Garry Tan. Less than two weeks after its Aug. 10 debut, fees on friend.tech — where 10% of every token purchase or sale gets split between the influencer and the platform — rose to a high of almost $1.7 million, according to data from DeFiLlama. That height, reached on Tuesday, made friend.tech the highest-earning platform after the Ethereum blockchain itself at one point, with the app generating around $7.5 million in fees since its launch as of Friday, per a Dune Analytics dashboard tracked by crypto asset manager 21.co. But as quickly as its rise began, the hype soon diminished. Fees began to droop, and were nearly 70% lower by Friday compared to Tuesday’s peak. The number of new users joining the platform daily also tanked, falling from 20,360 new accounts on Monday to just 4,484 on Friday — a decrease of almost 80%. The precise cause of friend.tech’s fading star is not yet known, though a report from crypto research firm Messari noted user gripes regarding “high trading fees, slow load times and a steep pricing curve” which determines how tokens on friend.tech are valued. Story continues The premise of friend.tech relies on the outsize role that personalities on platforms like X play in the success or failure of new crypto startups, making them an appealing target for monetization. Social media is also a hotly contested area of development in crypto, with the likes of Aave’s Lens Protocol and Twitter co-founder Jack Dorsey’s BlueSky among those to have launched in the last year. Read more: Crypto Wants to Save Social Media But so far, friend.tech has turned out to be subject to the same speculative mania that often tails new crypto projects, making it more like Dogecoin than a vibrant social-media platform. Even venture capitalists are wondering whether every idea requires a level of speculation in order to be successful in the current market. “The nature of crypto bakes ownership in as a feature. It’s an alternative to the advertising model that drove the tech giants,” Simon Taylor, head of strategy at fraud prevention startup Sardine, said in a message. “The upside is more privacy and potentially a share in growth. The risk is speculative games.” Teething Problems Friend.tech runs on Coinbase’s new blockchain network Base, with its early runaway success representing a rare bright spot on a chain that’s been flooded by token scams since its launch. The dramatic spike in activity, mostly generated by automated trading bots seeking to capitalize on friend.tech’s meteoric rise, also juiced Base’s transactions per second to briefly surpass that of Ethereum. The app has also begun to attract creators from platforms such as OnlyFans, a subscription-based service which similarly permits access to private group chats as well as exclusive content. But even in its short life, friend.tech is already experiencing problems. Influencer tokens, originally called “shares,” were renamed by friend.tech’s developers on Monday as “keys” — a move that was likely an attempt to distance them from securities rules after eagle-eyed lawyers noted the possible overlap with US regulators’ current crackdown on such assets. Criticism has also mounted from traders over friend.tech’s lack of a privacy policy — a core requirement for any platform in the modern era. And those same bots that drove the spike in transactions on friend.tech are contributing most to the platform’s subsequent downturn, according to 21.co’s Tom Wan. Automated bots can manipulate the order in which a transaction happens, so when an influencer tries to make their first key, bots are able to get ahead and buy it before them at the cheapest price possible. Creators are then left to buy their key at a higher price on the market, disincentivizing them in the process. The same can happen in the secondary market, forcing legitimate users to have to pay a higher fee to acquire the same stake. Track Record Some have likened friend.tech’s model — where its underlying structure of only providing creators with a cut of token transactions means they don’t have much incentive to stick around past the initial sale — to nonfungible tokens. NFTs themselves have a poor track record in this regard, with one of their main selling points — the ability for creators to earn ongoing royalties long after the first sale — largely failing to materialize and, in some cases, being slashed or blocked altogether. Overall, NFT sales at the start of this month were down more than 95% since the sector’s January 2022 peak at $288 million, per CryptoSlam data. The idea of tokenizing famous crypto personalities and allowing users to buy shares in them is nothing new, either. An Andreessen Horowitz and Sequoia-backed platform known as BitClout attempted a similar endeavor in 2021, quickly racking up almost $170 million worth of Bitcoin from investors and users after reserving thousands of accounts for influencers in advance. It soon encountered legal backlash after one of those influencers disputed BitClout’s use of their information without consent, and the company later underwent its own rebrand. Ultimately, friend.tech’s main problem goes to the heart of what’s been crypto’s top problem all along: providing a utility that encourages user stickiness beyond the ability to speculate. Already, others are developing tools on top of friend.tech to help game that financial system: tips on how to pick out the next biggest riser, a trader leaderboard and token price charts. “In its current form, you’re basically looking at an unintended Ponzi with first in/first out because there isn’t any product feature depth to create stickiness or retention,” said Ryan Wyatt, former president of Polygon Labs, in a post on X. “There is undoubtedly interesting social [and] crypto loops to explore here,” he added. “But call a spade a spade, we know how these things play out in the absence of a sticky product with real value.” If the platform can’t find a way to encourage those who aren’t crypto natives to find some benefit from the service, then it’s likely to go the same way as everything else in this industry once a newer, shinier novelty comes along — into the ether. --With assistance from Philip Brian Tabuas. Most Read from Bloomberg Businessweek America Is the World Leader in Locking People Up. One City Found a Fix How a Tiny Mexican Border City Built a Budget Dental Empire Is Carlos Alcaraz the Next Billion-Dollar Tennis Player? The Hostile Takeover of Blue Cities by Red States Can You Name These Cities? ©2023 Bloomberg L.P.", "The Bitcoin market has had a wild ride over the past year. Prices have plummeted, sharply recovered, and then plummeted again over the last ten months, and the future is uncertain for cryptocurrencies overall in the context of an ambivalent regulatory and policy landscape. Amidst all the chaos, one thing about Bitcoin has been steady since the beginning: its ever-expanding energy use and resulting carbon footprint. The cryptocurrency world has been in crisis recovery mode since the downfall of FTX, one of the largest cryptocurrency exchanges in the world, toward the end of last year. Since then, regulatory bodies around the world have escalated a crackdown on digital currency firms, while other sectors worried about “ crypto contagion ” leading to a widespread economic fallout. Despite the extreme crypto-anxiety and price volatility of the last year, however, Bitcoin has managed an impressive rebound, recently staying steady at about $26,000 – for now. But just when things have been looking up, crypto markets took an unexpected dive this week, and experts suggest that there may be another crash coming in September . Despite the volatility, Bitcoin’s energy use is at an all time high – and so are its carbon emissions . According to the Bitcoin Electricity Consumption Index , created and maintained by the University of Cambridge, Bitcoin’s estimated network power demand is currently clocking in at around 16 gigawatts, or about 138 TWh per year – approximately the equivalent of the entire country of Pakistan, home to 231.4 million people. The issue is the way that Bitcoins are mined. As more and more miners try to produce Bitcoins through solving complex proof-of-work problems, the problems get increasingly difficult to solve, thereby requiring more and more computing power to produce the same amount of Bitcoin. This is done to prevent the depression of the currency's value – in order to maintain a steady currency, each Bitcoin is designed to take about ten minutes to mine, no matter how much computing power is thrown at it. For this reason, it now takes about 9 years’ worth of household electricity to mine a single Bitcoin , whereas in 2009, it required just a few seconds’ worth. Story continues This isn’t just an issue for the environment, it's also an issue for Bitcoin miners, who have to secure more and more energy to keep their Bitcoin mining operations afloat. For this reason, lots of Bitcoin miners are trying to get more creative with sourcing cheap energy or energy industry byproducts, employing innovative approaches such as setting up in poor countries with heavily subsidized energy prices or using energy that would otherwise be wasted, such as coal ash – and natural gas vented during drilling on oilfields . Coal ash , in particular, has been touted by some as a potentially elegant solution to some of Bitcoin’s problems. It makes use of a byproduct that poses an environmental and health problem to the communities where it has been dumped and stored, and in doing so, recovers that land for other more productive uses. One of the biggest proponents of this approach is Stronghold, a publicly traded bitcoin mining firm operating in Pennsylvania, where coal ash is a readily available commodity thanks to widespread coal usage for steel production, among other uses, not to mention an ongoing environmental woe. Stronghold is “vertically integrated” as a Bitcoin company, with ownership of its own energy sources as well as its mining rigs. Those energy sources are two coal ash sites with a combined capacity of 165 MW. While Stronghold presents the plan as a win-win for bitcoin and for the environment, however, critics argue that it’s not actually such a clean solution. While coal ash does need to be cleaned up and processed, environmentalists argue that burning coal ash is not a good option, as it creates considerable greenhouse gas emissions. Put simply, it just moves the coal ash pollution from the ground to the air. And the issue is not just the irresponsible use of waste coal, it's the increasing demand for energy generated from fossil fuels in general. In a number of locations, we’ve already seen Bitcoin operations extending the life and spiking the emissions of coal and gas plants that were already on track to be shut down. A recent report from US NGO Global Energy Monitor found that all coal plants worldwide need to be shuttered by 2040 or face ‘climate chaos’. The threat that the coal-powered Bitcoin trend poses to decarbonization pathways is considerable and is increasingly garnering attention. New York recently imposed a 2-year moratorium on new permits for fossil fuel plants seeking to mine cryptocurrencies. While New York has acted swiftly to protect its climate goals, it is an outlier. By Haley Zaremba for Oilprice.com More Top Reads From Oilprice.com: Will Shapiro's Energy Strategy Plunge Pennsylvania Into Darkness? Water Shortages In Central Asia Puts Historic Alliance To The Test Global Aluminum Market Set For Major Shake-Up Read this article on OilPrice.com", "The Bitcoin market has had a wild ride over the past year. Prices have plummeted, sharply recovered, and then plummeted again over the last ten months, and the future is uncertain for cryptocurrencies overall in the context of an ambivalent regulatory and policy landscape. Amidst all the chaos, one thing about Bitcoin has been steady since the beginning: its ever-expanding energy use and resulting carbon footprint.\nThe cryptocurrency world has been in crisis recovery mode since the downfall of FTX, one of the largest cryptocurrency exchanges in the world, toward the end of last year. Since then, regulatory bodies around the world haveescalated a crackdownon digital currency firms, while other sectors worried about “crypto contagion” leading to a widespread economic fallout. Despite the extreme crypto-anxiety and price volatility of the last year, however, Bitcoin has managed an impressive rebound, recentlystaying steady at about $26,000– for now. But just when things have been looking up, crypto markets took an unexpected dive this week, and experts suggest that there may beanother crash coming in September.\nDespite the volatility, Bitcoin’s energy use is at an all time high – andso are its carbon emissions. According to theBitcoin Electricity Consumption Index, created and maintained by the University of Cambridge, Bitcoin’s estimated network power demand is currently clocking in at around 16 gigawatts, or about 138 TWh per year – approximately the equivalent of the entire country of Pakistan, home to 231.4 million people.\nThe issue is the way that Bitcoins are mined. As more and more miners try to produce Bitcoins through solving complex proof-of-work problems, the problems get increasingly difficult to solve, thereby requiring more and more computing power to produce the same amount of Bitcoin. This is done to prevent the depression of the currency's value – in order to maintain a steady currency, each Bitcoin is designed to take about ten minutes to mine, no matter how much computing power is thrown at it. For this reason, it now takes about9 years’ worth of household electricity to mine a single Bitcoin, whereas in 2009, it required just a few seconds’ worth.\nThis isn’t just an issue for the environment, it's also an issue for Bitcoin miners, who have to secure more and more energy to keep their Bitcoin mining operations afloat. For this reason, lots of Bitcoin miners are trying to get more creative with sourcing cheap energy or energy industry byproducts, employing innovative approaches such assetting up in poor countries with heavily subsidized energy pricesor using energy that would otherwise be wasted, such ascoal ash– andnatural gas vented during drilling on oilfields.\nCoal ash, in particular, has been touted by some as a potentially elegant solution to some of Bitcoin’s problems. It makes use of a byproduct that poses an environmental and health problem to the communities where it has been dumped and stored, and in doing so, recovers that land for other more productive uses. One of the biggest proponents of this approach is Stronghold, a publicly traded bitcoin mining firm operating in Pennsylvania, where coal ash is a readily available commodity thanks to widespread coal usage for steel production, among other uses, not to mention an ongoing environmental woe. Stronghold is “vertically integrated” as a Bitcoin company, with ownership of its own energy sources as well as its mining rigs. Those energy sources are two coal ash sites with a combined capacity of 165 MW.\nWhile Stronghold presents the plan as a win-win for bitcoin and for the environment, however, critics argue that it’s not actually such a clean solution. While coal ash does need to be cleaned up and processed, environmentalists argue that burning coal ash is not a good option, as it creates considerable greenhouse gas emissions. Put simply, it just moves the coal ash pollution from the ground to the air.\nAnd the issue is not just the irresponsible use of waste coal, it's the increasing demand for energy generated from fossil fuels in general. In a number of locations, we’ve already seen Bitcoin operationsextending the life and spiking the emissionsof coal and gas plants that were already on track to be shut down. A recent report from US NGO Global Energy Monitor found that all coal plants worldwide need to be shuttered by 2040 or face ‘climate chaos’. The threat that the coal-powered Bitcoin trend poses to decarbonization pathways is considerable and is increasingly garnering attention. New York recently imposed a2-year moratoriumon new permits for fossil fuel plants seeking to mine cryptocurrencies. While New York has acted swiftly to protect its climate goals, it is an outlier.\nBy Haley Zaremba for Oilprice.com\nMore Top Reads From Oilprice.com:\n• Will Shapiro's Energy Strategy Plunge Pennsylvania Into Darkness?\n• Water Shortages In Central Asia Puts Historic Alliance To The Test\n• Global Aluminum Market Set For Major Shake-Up\nRead this article on OilPrice.com", "The Bitcoin market has had a wild ride over the past year. Prices have plummeted, sharply recovered, and then plummeted again over the last ten months, and the future is uncertain for cryptocurrencies overall in the context of an ambivalent regulatory and policy landscape. Amidst all the chaos, one thing about Bitcoin has been steady since the beginning: its ever-expanding energy use and resulting carbon footprint.\nThe cryptocurrency world has been in crisis recovery mode since the downfall of FTX, one of the largest cryptocurrency exchanges in the world, toward the end of last year. Since then, regulatory bodies around the world haveescalated a crackdownon digital currency firms, while other sectors worried about “crypto contagion” leading to a widespread economic fallout. Despite the extreme crypto-anxiety and price volatility of the last year, however, Bitcoin has managed an impressive rebound, recentlystaying steady at about $26,000– for now. But just when things have been looking up, crypto markets took an unexpected dive this week, and experts suggest that there may beanother crash coming in September.\nDespite the volatility, Bitcoin’s energy use is at an all time high – andso are its carbon emissions. According to theBitcoin Electricity Consumption Index, created and maintained by the University of Cambridge, Bitcoin’s estimated network power demand is currently clocking in at around 16 gigawatts, or about 138 TWh per year – approximately the equivalent of the entire country of Pakistan, home to 231.4 million people.\nThe issue is the way that Bitcoins are mined. As more and more miners try to produce Bitcoins through solving complex proof-of-work problems, the problems get increasingly difficult to solve, thereby requiring more and more computing power to produce the same amount of Bitcoin. This is done to prevent the depression of the currency's value – in order to maintain a steady currency, each Bitcoin is designed to take about ten minutes to mine, no matter how much computing power is thrown at it. For this reason, it now takes about9 years’ worth of household electricity to mine a single Bitcoin, whereas in 2009, it required just a few seconds’ worth.\nThis isn’t just an issue for the environment, it's also an issue for Bitcoin miners, who have to secure more and more energy to keep their Bitcoin mining operations afloat. For this reason, lots of Bitcoin miners are trying to get more creative with sourcing cheap energy or energy industry byproducts, employing innovative approaches such assetting up in poor countries with heavily subsidized energy pricesor using energy that would otherwise be wasted, such ascoal ash– andnatural gas vented during drilling on oilfields.\nCoal ash, in particular, has been touted by some as a potentially elegant solution to some of Bitcoin’s problems. It makes use of a byproduct that poses an environmental and health problem to the communities where it has been dumped and stored, and in doing so, recovers that land for other more productive uses. One of the biggest proponents of this approach is Stronghold, a publicly traded bitcoin mining firm operating in Pennsylvania, where coal ash is a readily available commodity thanks to widespread coal usage for steel production, among other uses, not to mention an ongoing environmental woe. Stronghold is “vertically integrated” as a Bitcoin company, with ownership of its own energy sources as well as its mining rigs. Those energy sources are two coal ash sites with a combined capacity of 165 MW.\nWhile Stronghold presents the plan as a win-win for bitcoin and for the environment, however, critics argue that it’s not actually such a clean solution. While coal ash does need to be cleaned up and processed, environmentalists argue that burning coal ash is not a good option, as it creates considerable greenhouse gas emissions. Put simply, it just moves the coal ash pollution from the ground to the air.\nAnd the issue is not just the irresponsible use of waste coal, it's the increasing demand for energy generated from fossil fuels in general. In a number of locations, we’ve already seen Bitcoin operationsextending the life and spiking the emissionsof coal and gas plants that were already on track to be shut down. A recent report from US NGO Global Energy Monitor found that all coal plants worldwide need to be shuttered by 2040 or face ‘climate chaos’. The threat that the coal-powered Bitcoin trend poses to decarbonization pathways is considerable and is increasingly garnering attention. New York recently imposed a2-year moratoriumon new permits for fossil fuel plants seeking to mine cryptocurrencies. While New York has acted swiftly to protect its climate goals, it is an outlier.\nBy Haley Zaremba for Oilprice.com\nMore Top Reads From Oilprice.com:\n• Will Shapiro's Energy Strategy Plunge Pennsylvania Into Darkness?\n• Water Shortages In Central Asia Puts Historic Alliance To The Test\n• Global Aluminum Market Set For Major Shake-Up\nRead this article on OilPrice.com"]...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-27
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $509,506,837,688
- Hash Rate: 320735010.301812
- Transaction Count: 413594.0
- Unique Addresses: 606069.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.38
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: LAS VEGAS, July 28, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company ") announced today that it has entered into a service agreement with Shareholder Intelligence Services, LLC (" ShareIntel ") to assist the Company to determine if there is illegal short selling activities in its common stock. ShareIntel will utilize its patented process called DRIL-Down™, a compliance driven service-as-a-software program designed for public companies to track stockholder ownership and monitor critical broker-dealer and stockholder movement, to investigate and report on potential illegal naked short selling activities of the Company’s stock. ShareIntel will aggregate and analyze repository data from reporting entities, broker-dealers and stockholders, enabling the Company to identify parties to possible aberrant or unusual trading activity and assist the Company to deploy corrective action steps to help curtail such activity. "Based on the trading pattern of the stock, we are concerned that our company may have been the target of a market manipulation scheme involving illegal short selling of our stock over the past year, and we are committed to investigating and exposing any wrongdoing," said Milton "Todd" Ault, III, the Executive Chairman of Ault Alliance. "By working with ShareIntel, we may find potential reporting anomalies among market makers, banks, broker-dealers and clearing firms, including efforts to artificially depress our market stock price. Investigating and attempting to remedy any wrongdoing would support our continuing commitment to protect our investors and maximize stockholder value. The Company believes such manipulation to be completely unacceptable, as it distorts the value of the targeted companies and negatively impacts the stockholders who have invested their hard-earned money." Story continues David Wenger, President and Chief Executive Officer of ShareIntel, stated, "We look forward to helping Ault Alliance identify parties that may be engaging in abusive and illegal naked short selling." For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.ault.com or available at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and colocation and offers hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20230728746789/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin, Ether and other top 10 non-stablecoin cryptocurrencies held steady on Monday morning in Asia. Crypto investor sentiment remains cautious, although JPMorgan Chase & Co. analysts report that downward price momentum in the market has slowed. The Forkast 500 NFT Index gained after Donald Trump’s arrest triggered a surge in sales of the former U.S. president’s signature NFT collection. U.S. equity futures gained despite U.S. Federal Reserve chair Jerome Powell using his highly anticipated Jackson Hole speech on Friday to double down on the potential for interest rates to stay higher for longer.\nBitcoin posted a minimal gain of 0.08% for the last 24 hours to reach US$26,050.62 as of 06:40 a.m. in Hong Kong. The token was trading 0.59% lower for the week, according to CoinMarketCapdata. The world’s leading cryptocurrency hovered around US$26,000 over the weekend, briefly dipping below the key support level several times.\n“TheCryptocurrency Fear and Greed Indexis in “Fear” territory for the latest week,” said Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro, in an emailed statement.\n“By this measure, the market is far from oversold and not yet attractive to bargain hunters,” he said, adding that Bitcoin has entered another long period of horizontal price movement.\nEther gained 0.35% to US$1,653.79, while losing 1.73% in the last seven days. Alongside most other cryptos, including Bitcoin, it posted heavylossesAug. 18 as macroeconomic factors — includinguncertaintyover upcoming Fed moves on interest rates,depreciationof the Chinese yuan and the bankruptcy of Chinese property giant Evergrande — weighed on the market.\n“Ethereum is consolidating around US$1,650, a significant pivot level of the last 12 months,” said Kuptsikevich. He warned that a failure to maintain this level could take the price to US$1,200 “within a week or two.”\nContrastingly, areportby analysts at JPMorgan Chase & Co. forecast “limited downside” for the crypto market as losses slow. They found a drop in the number of Bitcoin-linked futures contracts on exchanges that are yet to be settled — a sign that downward price movement is losing its momentum.\nOther top 10 non-stablecoin cryptocurrencies were steady to mixed.\nSolana led the gains, rising 1.99% to US$20.73, but it still posted a loss of\xa04.89% for the week. That drop came despite news last week that Solana Pay — a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees.\nThe total crypto market capitalization grew 0.18% to US$1.05 trillion. Trading volume also rose 6.88% to US$16.28 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe main Forkast 500 NFT index edged up 0.07% over the past 24 hours to 2,244.41 as of 11:45 a.m. in Hong Kong, but was down 3.71% for the week. Forkast’s Ethereum, Polygon and Cardano indexes moved down, while the Solana index rose.\nTotal NFT trading volume rose 0.33% in the past 24 hours to US$10.02 million. Volume on Ethereum and Polygon fell while Solana, Mythos and BNB logged increases, according todatafrom CryptoSlam.\nMeanwhile, the public release of Donald Trump’s police mugshot Thursday caused a surge in the price of the former U.S. presidents signature NFTs. The average price of Trump Digital Trading Cards on the NFT marketplaceOpenSeajumped 70% to 0.1913 ETH (US$358) on Sunday from 0.1118 ETH on Wednesday.\nThe mugshot is part of the criminal case brought by the Georgia state government against Trump for electoral interference at the end of the 2020 presidential race. The image is the first mugshot taken of a former president in U.S. history. Trump tweeted the picture on his official X account on Friday. It was his first tweet since being reinstated to X (formerly Twitter) following a ban in January 2021.\nThe tweet had 250.4 million views and 1.6 million likes as of Monday afternoon in Asia.\n“The more Trump is in the news, the more these will sell,” said Yehudah Petscher, NFT strategist for Forkast Labs.\n“To some degree, I do think these are historic. You have one of the most polarizing figures in world history, and I think most people don’t realize or they forgot, but there’s a whole collection of prize NFTs,” Petscher added.\nTrump’s NFT collection, launched last December, includes passes to perks including a group Zoom call with the former president.\n“I bought a couple of the Zoom calls,” Petscher said. “When else are you ever going to have a chance to talk to a president for 30 bucks?”\nIn terms of collections, Mythos chain-based NFTs from blockchain gaming platform DMarket topped trade volume, gaining 3.58% to US$815,301. Ethereum-based NFT staple Bored Ape Yacht Club placed second despite dropping 45.50% to US$666,010.\nThe digital collection from ImmutableX’s science fiction-based trading card game “Cross The Ages” placed third with a trading volume of US$472,187.\nU.S. stock futures were trading up as of 11:55\xa0 a.m. in Hong Kong, adding to gains made during regular session trading Friday. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all also logged gains.\nThat followed Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium last Friday. Powell said the U.S. economy has become more resilient, but made clear that inflation still remains “too high.” The central bank could still raise interest rates if needed, he said, but will “proceed carefully” before making any decision.\n“It’s a reiteration that the Fed at best is going to go very slowly and cautiously,” Michael Green, chief investment strategist at Simplify Asset Management,saidto BBC News.\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. The CME FedWatch Toolpredictsa 19.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September.\nMeanwhile, China stocksrosefollowing weekendreportsthat Beijing is preparing new measures to boost capital markets. The proposed measures include a plan to cut stamp duty — a tax levied on documents required to legally record transactions — on stock trading by a maximum of 50%. If implemented, the cut will be the first of its kind since 2008.\n“Such a policy will likely give a short-term boost to the market, but won’t have much effect over the long run,” Xie Chen, fund manager at Shanghai Jianwen Investment Management Co., told Reuters.\nMacroeconomic data for July, including output and retail sales figures, showed a slowdown in China’s post-coronavirus recovery efforts, with some analysts predicting arecession.\n(Updates to add Equities section)', 'Bitcoin, Ether and other top 10 non-stablecoin cryptocurrencies held steady on Monday morning in Asia. Crypto investor sentiment remains cautious, although JPMorgan Chase & Co. analysts report that downward price momentum in the market has slowed. The Forkast 500 NFT Index gained after Donald Trump’s arrest triggered a surge in sales of the former U.S. president’s signature NFT collection. U.S. equity futures gained despite U.S. Federal Reserve chair Jerome Powell using his highly anticipated Jackson Hole speech on Friday to double down on the potential for interest rates to stay higher for longer. JP Morgan finds ‘limited downside’ for crypto Bitcoin posted a minimal gain of 0.08% for the last 24 hours to reach US$26,050.62 as of 06:40 a.m. in Hong Kong. The token was trading 0.59% lower for the week, according to CoinMarketCap data . The world’s leading cryptocurrency hovered around US$26,000 over the weekend, briefly dipping below the key support level several times. “The Cryptocurrency Fear and Greed Index is in “Fear” territory for the latest week,” said Alex Kuptsikevich, senior market analyst at London-based online brokerage FxPro, in an emailed statement. “By this measure, the market is far from oversold and not yet attractive to bargain hunters,” he said, adding that Bitcoin has entered another long period of horizontal price movement. Ether gained 0.35% to US$1,653.79, while losing 1.73% in the last seven days. Alongside most other cryptos, including Bitcoin, it posted heavy losses Aug. 18 as macroeconomic factors — including uncertainty over upcoming Fed moves on interest rates, depreciation of the Chinese yuan and the bankruptcy of Chinese property giant Evergrande — weighed on the market. “Ethereum is consolidating around US$1,650, a significant pivot level of the last 12 months,” said Kuptsikevich. He warned that a failure to maintain this level could take the price to US$1,200 “within a week or two.” Contrastingly, a report by analysts at JPMorgan Chase & Co. forecast “limited downside” for the crypto market as losses slow. They found a drop in the number of Bitcoin-linked futures contracts on exchanges that are yet to be settled — a sign that downward price movement is losing its momentum. Story continues Other top 10 non-stablecoin cryptocurrencies were steady to mixed. Solana led the gains, rising 1.99% to US$20.73, but it still posted a loss of\xa04.89% for the week. That drop came despite news last week that Solana Pay — a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees. The total crypto market capitalization grew 0.18% to US$1.05 trillion. Trading volume also rose 6.88% to US$16.28 billion. Trump mugshot boosts former US president’s NFT sales The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index edged up 0.07% over the past 24 hours to 2,244.41 as of 11:45 a.m. in Hong Kong, but was down 3.71% for the week. Forkast’s Ethereum, Polygon and Cardano indexes moved down, while the Solana index rose. Total NFT trading volume rose 0.33% in the past 24 hours to US$10.02 million. Volume on Ethereum and Polygon fell while Solana, Mythos and BNB logged increases, according to data from CryptoSlam. Meanwhile, the public release of Donald Trump’s police mugshot Thursday caused a surge in the price of the former U.S. presidents signature NFTs. The average price of Trump Digital Trading Cards on the NFT marketplace OpenSea jumped 70% to 0.1913 ETH (US$358) on Sunday from 0.1118 ETH on Wednesday. The mugshot is part of the criminal case brought by the Georgia state government against Trump for electoral interference at the end of the 2020 presidential race. The image is the first mugshot taken of a former president in U.S. history. Trump tweeted the picture on his official X account on Friday. It was his first tweet since being reinstated to X (formerly Twitter) following a ban in January 2021. https://t.co/MlIKklPSJT pic.twitter.com/Mcbf2xozsY — Donald J. Trump (@realDonaldTrump) August 25, 2023 The tweet had 250.4 million views and 1.6 million likes as of Monday afternoon in Asia. “The more Trump is in the news, the more these will sell,” said Yehudah Petscher, NFT strategist for Forkast Labs. “To some degree, I do think these are historic. You have one of the most polarizing figures in world history, and I think most people don’t realize or they forgot, but there’s a whole collection of prize NFTs,” Petscher added. Trump’s NFT collection, launched last December, includes passes to perks including a group Zoom call with the former president. “I bought a couple of the Zoom calls,” Petscher said. “When else are you ever going to have a chance to talk to a president for 30 bucks?” In terms of collections, Mythos chain-based NFTs from blockchain gaming platform DMarket topped trade volume, gaining 3.58% to US$815,301. Ethereum-based NFT staple Bored Ape Yacht Club placed second despite dropping 45.50% to US$666,010. The digital collection from ImmutableX’s science fiction-based trading card game “Cross The Ages” placed third with a trading volume of US$472,187. Powell signals rates could stay higher-for-longer Federal Reserve Chairman Jerome Powell Image: Getty Images U.S. stock futures were trading up as of 11:55\xa0 a.m. in Hong Kong, adding to gains made during regular session trading Friday. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei all also logged gains. That followed Federal Reserve Chair Jerome Powell’s opening speech at the Jackson Hole Economic Symposium last Friday. Powell said the U.S. economy has become more resilient, but made clear that inflation still remains “too high.” The central bank could still raise interest rates if needed, he said, but will “proceed carefully” before making any decision. “It’s a reiteration that the Fed at best is going to go very slowly and cautiously,” Michael Green, chief investment strategist at Simplify Asset Management, said to BBC News. The Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. The CME FedWatch Tool predicts a 19.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September. Meanwhile, China stocks rose following weekend reports that Beijing is preparing new measures to boost capital markets. The proposed measures include a plan to cut stamp duty — a tax levied on documents required to legally record transactions — on stock trading by a maximum of 50%. If implemented, the cut will be the first of its kind since 2008. “Such a policy will likely give a short-term boost to the market, but won’t have much effect over the long run,” Xie Chen, fund manager at Shanghai Jianwen Investment Management Co., told Reuters. Macroeconomic data for July, including output and retail sales figures, showed a slowdown in China’s post-coronavirus recovery efforts, with some analysts predicting a recession . (Updates to add Equities section)', '• Relative richness of out-of-the-money call and put options tied to bitcoin suggests traders are pricing in "tail risk" in the bitcoin market.\n• Tail risk suggests a higher possibility that an investment will move more than three standard deviations from the mean.\nThey call it tail risk in the crypto market: the risk of an asset moving three standard deviations from its current price on the back of a rare event.\nTraders fear such an event in bitcoin (BTC) even though the cryptocurrency has been listless around $26,000 since falling over 10% in the week ended Aug. 20. BTC\'s annualized seven-day historical or realized volatility has cooled to 26% from nearly 60% seen early last week, according to Amberdata.\n"Bitcoin\'s butterfly index has risen to yearly highs. It shows investors and market makers are pricing in tail risk," Griffin Ardern, volatility trader from crypto asset management firm Blofin, said.\nThe butterfly index gauges the relative richness of the out-of-the-money (OTM) higher strike call options and lower strike put options by comparing crypto exchange Deribit\'s bitcoin volatility index (DVOL) with the at-the-money (ATM) volatility.\nAn elevated index indicates relatively stronger demand for OTM options (wings) or call options at strikes higher than BTC\'s current price and puts at strikes lower than BTC\'s going market rate. In other words, it signifies traders\' fear of the tail risk or sensitivity to uncertainty.\nCalls are derivative contracts that give the purchaser the right to buy the underlying asset at a preset price at a later date. A put option gives the right to sell. A call buyer is implicitly bullish on the market, while the put buyer is bearish. Demand for OTM calls and puts rises when traders anticipate an above-average price move.\n"Looking at the BTC butterfly index, we can see that wings are near the upper 90% percentile (red horizontal line). So, [while] outright volatility [metrics] seems confident in spot price consolidation, traders are still paying up for tails," Greg Magadini, director of derivatives at Amberdata, said in the weekly newsletter.\nThe index is expressed as a ratio or spread between crypto exchange Deribit\'s bitcoin volatility index (DVOL) and the at-the-money (ATM) volatility. Deribit\'s DVOL considers the pricing for all options, while the ATM tool is based on pricing for at-the-money options.\nThe pricing for tail risk is consistent with the lingering macroeconomic uncertainty.\nOn Friday, Federal Reserve Chairman Jerome Powell reaffirmed that the central bank remains committed to hitting the 2% inflation target and keeping it there while signaling that the monetary policy will remain tight for longer than expected.\nThe Fed\'s continued bias for tightening has lifted bond yields to the highest since 2007. Rising yields tend to weigh over risk assets, including cryptocurrencies.\n"A key insight from Jerome Powell is that \'getting inflation back to 2% likely requires below-trend growth\', meaning he isn\'t afraid of some pain to the economy and jobs market," Magadini noted.\nArdern said the tail risk will likely remain higher in the lead-up to Friday\'s U.S. nonfarm payrolls report. Per Wall Street Journal, the data is likely to show the U.S. economy added 200,000 jobs last month following June\'s 209,000 additions, resulting in the jobless rate holding steady at 3.6%.', '• Relative richness of out-of-the-money call and put options tied to bitcoin suggests traders are pricing in "tail risk" in the bitcoin market.\n• Tail risk suggests a higher possibility that an investment will move more than three standard deviations from the mean.\nThey call it tail risk in the crypto market: the risk of an asset moving three standard deviations from its current price on the back of a rare event.\nTraders fear such an event in bitcoin (BTC) even though the cryptocurrency has been listless around $26,000 since falling over 10% in the week ended Aug. 20. BTC\'s annualized seven-day historical or realized volatility has cooled to 26% from nearly 60% seen early last week, according to Amberdata.\n"Bitcoin\'s butterfly index has risen to yearly highs. It shows investors and market makers are pricing in tail risk," Griffin Ardern, volatility trader from crypto asset management firm Blofin, said.\nThe butterfly index gauges the relative richness of the out-of-the-money (OTM) higher strike call options and lower strike put options by comparing crypto exchange Deribit\'s bitcoin volatility index (DVOL) with the at-the-money (ATM) volatility.\nAn elevated index indicates relatively stronger demand for OTM options (wings) or call options at strikes higher than BTC\'s current price and puts at strikes lower than BTC\'s going market rate. In other words, it signifies traders\' fear of the tail risk or sensitivity to uncertainty.\nCalls are derivative contracts that give the purchaser the right to buy the underlying asset at a preset price at a later date. A put option gives the right to sell. A call buyer is implicitly bullish on the market, while the put buyer is bearish. Demand for OTM calls and puts rises when traders anticipate an above-average price move.\n"Looking at the BTC butterfly index, we can see that wings are near the upper 90% percentile (red horizontal line). So, [while] outright volatility [metrics] seems confident in spot price consolidation, traders are still paying up for tails," Greg Magadini, director of derivatives at Amberdata, said in the weekly newsletter.\nThe index is expressed as a ratio or spread between crypto exchange Deribit\'s bitcoin volatility index (DVOL) and the at-the-money (ATM) volatility. Deribit\'s DVOL considers the pricing for all options, while the ATM tool is based on pricing for at-the-money options.\nThe pricing for tail risk is consistent with the lingering macroeconomic uncertainty.\nOn Friday, Federal Reserve Chairman Jerome Powell reaffirmed that the central bank remains committed to hitting the 2% inflation target and keeping it there while signaling that the monetary policy will remain tight for longer than expected.\nThe Fed\'s continued bias for tightening has lifted bond yields to the highest since 2007. Rising yields tend to weigh over risk assets, including cryptocurrencies.\n"A key insight from Jerome Powell is that \'getting inflation back to 2% likely requires below-trend growth\', meaning he isn\'t afraid of some pain to the economy and jobs market," Magadini noted.\nArdern said the tail risk will likely remain higher in the lead-up to Friday\'s U.S. nonfarm payrolls report. Per Wall Street Journal, the data is likely to show the U.S. economy added 200,000 jobs last month following June\'s 209,000 additions, resulting in the jobless rate holding steady at 3.6%.', 'Relative richness of out-of-the-money call and put options tied to bitcoin suggests traders are pricing in "tail risk" in the bitcoin market. Tail risk suggests a higher possibility that an investment will move more than three standard deviations from the mean. They call it tail risk in the crypto market: the risk of an asset moving three standard deviations from its current price on the back of a rare event. Traders fear such an event in bitcoin (BTC) even though the cryptocurrency has been listless around $26,000 since falling over 10% in the week ended Aug. 20. BTC\'s annualized seven-day historical or realized volatility has cooled to 26% from nearly 60% seen early last week, according to Amberdata. "Bitcoin\'s butterfly index has risen to yearly highs. It shows investors and market makers are pricing in tail risk," Griffin Ardern, volatility trader from crypto asset management firm Blofin, said. The butterfly index gauges the relative richness of the out-of-the-money (OTM) higher strike call options and lower strike put options by comparing crypto exchange Deribit\'s bitcoin volatility index (DVOL) with the at-the-money (ATM) volatility. An elevated index indicates relatively stronger demand for OTM options (wings) or call options at strikes higher than BTC\'s current price and puts at strikes lower than BTC\'s going market rate. In other words, it signifies traders\' fear of the tail risk or sensitivity to uncertainty. Calls are derivative contracts that give the purchaser the right to buy the underlying asset at a preset price at a later date. A put option gives the right to sell. A call buyer is implicitly bullish on the market, while the put buyer is bearish. Demand for OTM calls and puts rises when traders anticipate an above-average price move. "Looking at the BTC butterfly index, we can see that wings are near the upper 90% percentile (red horizontal line). So, [while] outright volatility [metrics] seems confident in spot price consolidation, traders are still paying up for tails," Greg Magadini, director of derivatives at Amberdata, said in the weekly newsletter. Story continues The butterfly index remains elevated, indicating lingering fears of an outsized move in bitcoin\'s price. (Amberdata) The index is expressed as a ratio or spread between crypto exchange Deribit\'s bitcoin volatility index (DVOL) and the at-the-money (ATM) volatility. Deribit\'s DVOL considers the pricing for all options, while the ATM tool is based on pricing for at-the-money options. The pricing for tail risk is consistent with the lingering macroeconomic uncertainty. On Friday, Federal Reserve Chairman Jerome Powell reaffirmed that the central bank remains committed to hitting the 2% inflation target and keeping it there while signaling that the monetary policy will remain tight for longer than expected. The Fed\'s continued bias for tightening has lifted bond yields to the highest since 2007. Rising yields tend to weigh over risk assets, including cryptocurrencies. "A key insight from Jerome Powell is that \'getting inflation back to 2% likely requires below-trend growth\', meaning he isn\'t afraid of some pain to the economy and jobs market," Magadini noted. Ardern said the tail risk will likely remain higher in the lead-up to Friday\'s U.S. nonfarm payrolls report. Per Wall Street Journal, the data is likely to show the U.S. economy added 200,000 jobs last month following June\'s 209,000 additions, resulting in the jobless rate holding steady at 3.6%.', "JPMorgan: “Limited Downside” For Crypto in the Short-Term “Limited Downside” JPMorgan analysts have indicated that the recent corrective phase in the cryptocurrency markets, accompanied by liquidations, might have concluded. According to the banking giant's study of CME Bitcoin Futures contracts, the unwinding of long bets may have reached its conclusion, which leads them to predict that the near-term crypto markets would only see minimal downside. Traders had established long positions based on favorable developments, including the XRP ruling, expectations for SEC approving spot Bitcoin ETFs, PayPal entering the stablecoin market and preparations for the upcoming Bitcoin halving event. However, a recent wave of long position liquidations was sparked by declining optimism. The SEC expressed confidence in appealing the XRP judgment, while Congress debated strict stablecoin laws, which caused the SEC to postpone decisions on whether to approve Bitcoin ETFs. The analysts at JPMorgan feel that the unwinding of long positions is almost complete, pointing out that the correction is part of a larger unwinding of risk assets including equities and technology companies. Frothy positioning in the technology sector, rising U.S. real yields, and worries about Chinese economic growth were all factors that contributed to the fall. At the time of writing, the price of Bitcoin (BTC) , the largest cryptocurrency, hovers around $26,000.", "JPMorgan: “Limited Downside” For Crypto in the Short-Term “Limited Downside” JPMorgan analysts have indicated that the recent corrective phase in the cryptocurrency markets, accompanied by liquidations, might have concluded. According to the banking giant's study of CME Bitcoin Futures contracts, the unwinding of long bets may have reached its conclusion, which leads them to predict that the near-term crypto markets would only see minimal downside. Traders had established long positions based on favorable developments, including the XRP ruling, expectations for SEC approving spot Bitcoin ETFs, PayPal entering the stablecoin market and preparations for the upcoming Bitcoin halving event. However, a recent wave of long position liquidations was sparked by declining optimism. The SEC expressed confidence in appealing the XRP judgment, while Congress debated strict stablecoin laws, which caused the SEC to postpone decisions on whether to approve Bitcoin ETFs. The analysts at JPMorgan feel that the unwinding of long positions is almost complete, pointing out that the correction is part of a larger unwinding of risk assets including equities and technology companies. Frothy positioning in the technology sector, rising U.S. real yields, and worries about Chinese economic growth were all factors that contributed to the fall. At the time of writing, the price of Bitcoin (BTC) , the largest cryptocurrency, hovers around $26,000.", 'Token withdrawals out of the Shibarium bridge are now live and available to users, weeks after a much-hyped launch quickly fizzled out after being riddled with software bugs that led to millions of dollars in limbo on the network. Developers said in a Monday update that withdrawals of Shibarium ecosystem tokens shib (SHIB), leash (LEASH) and wrapped ether (wETH) will take anywhere from 45 minutes to 3 hours to be processed, while bone (BONE) withdrawals could take up to 7 days. As such, chief developer Shytoshi Kusama previously stated the team had put steps in place to prevent an outage from repeating. They added the team worked with Polygon blockchain developers to rectify any potential issues. Shibarium is a fork of Polygon, meaning it uses modified code that runs the latter. Shibarium is an Ethereum layer-2 network that uses SHIB tokens as fees in what is part of a broader plan to position Shiba Inu as a serious blockchain project. It is said to have a focus on metaverse and gaming applications while finding use as a cheap settlement for DeFi applications built atop it. A testing period for Shibarium saw significant success, with millions of wallets participating and conducting some 22 million transactions over a four-month period. But the network quickly fizzled out after going live earlier this month. Shibarium transactions were stalled for at least eleven hours shortly after going live, with millions of dollars stuck on a bridge, or a tool that transfers tokens between different networks. SHIB prices plunged 10% at the time. Developers responded to the outage stating that "there was no bridge issue" and that the problem occurred following an unprecedented mass influx of transactions from users, as previously reported . They claimed servers failed as users overloaded the network with transactions \x96 much higher than the handling capacity of those servers. They have since claimed the network has a \x93new monitoring system and additional fail-safes\x94 in place to prevent stoppage amid a \x93huge level of traffic again.\x94 SHIB slid 2.2% in the past 24 hours despite the network restart amid a generally bearish sentiment for majors such as bitcoin (BTC).', 'Investing and trading platform Robinhood (HOOD) holds over $3 billion in bitcoin (BTC) in a single wallet that attracted the holdings over several months, wallet data from Arkham Intelligence shows . This makes it the third-largest bitcoin holder behind crypto exchanges Binance and Bitfinex, which hold $6.4 billion and $4.3 billion worth of tokens on single wallets respectively. The wallet previously gained notoriety among market watchers in the past few months as the identity of its owners sparked conversations and concerns about who the mysterious owner of such a large amount of bitcoin could be. As of Monday, Robinhood has not publically commented on these holdings. The transfers sparked speculations ranging from the bitcoin holdings belonging to financial behemoth BlackRock, which filed for a Bitcoin ETF earlier this year, to crypto exchange Gemini shifting its users’ holdings to a wallet. Robinhood transferred some 118,300 bitcoin to the wallet from several other smaller wallets over a three-month period, data shows. The firm told CoinDesk that it custodies all customer assets, including bitcoin. All of these holdings are held on the Bitcoin blockchain. The first transactions were made on March 8, after which huge amounts of bitcoin were transferred until July 14, data from BitInfoCharts show . Meanwhile, the holdings shed light on the extent of Robinhood’s bitcoin exposure despite low crypto trading volumes on its platform. Robinhood reported crypto trading revenue of just $31 million in the second quarter, down 18% from the $38 million in the first quarter, according to its latest earnings release. The figures were 16% of the $193 million in trading revenue across all categories, which saw a 7% sequential decline, as previously reported. Correction (23:00 UTC 8/28/2023) A previous version of this article stated that Robinhood custodies assets with Jump Trading.', 'LAS VEGAS, August 28, 2023 --( BUSINESS WIRE )-- Ault Alliance Inc. (" Ault Alliance " or the " Company ") announced today that the metaverse platform, BitNile.com (the " Platform "), will be expanding its social gaming experience with the launch of Blackjack expected on September 1, 2023. The Platform is owned and operated by BitNile.com, Inc. (" BNC "), a wholly owned subsidiary of BitNile Metaverse, Inc. (Nasdaq: BNMV), which is a consolidated minority beneficially owned subsidiary of Ault Alliance. BNC believes that the popular casino game will increase revenue from the sale of in-world coins that are required to play its new and exciting Blackjack sweepstakes-based game. BNC previously introduced social gaming on the Platform with the release of roulette, offering users an opportunity to play for fun or real money prizes through a sweepstakes model. The introduction of coin packages in the Platform, which users can purchase in varying denominations, has generated a revenue opportunity for BNC. BNC looks forward to adding other games in the future that are currently under development. "We are very pleased that the Platform will be launching Blackjack as a part of its social gaming experience. I am excited to see the team at BNC harnessing its potential to generate significant revenue. More importantly, this new addition underscores BNC’s commitment to deliver a rich, engaging metaverse experience. While it’s still early in the ramp-up cycle, there is tremendous potential for future growth. There is a world of opportunities yet to be explored," stated Milton "Todd" Ault, III, Executive Chairman of the Company and BNC. Users can access and explore the early-access version of the Platform and receive updates by visiting https://BitNile.com . Sweepstakes are only open to residents of the United States (other than residents of Idaho and Washington) who are at least eighteen years old or the age of majority in their jurisdiction (whichever occurs later) at the time of entry. Participation is void where prohibited by law. Story continues For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or available at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20230828756027/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235', 'LAS VEGAS, August 28, 2023 --( BUSINESS WIRE )-- Ault Alliance Inc. (" Ault Alliance " or the " Company ") announced today that the metaverse platform, BitNile.com (the " Platform "), will be expanding its social gaming experience with the launch of Blackjack expected on September 1, 2023. The Platform is owned and operated by BitNile.com, Inc. (" BNC "), a wholly owned subsidiary of BitNile Metaverse, Inc. (Nasdaq: BNMV), which is a consolidated minority beneficially owned subsidiary of Ault Alliance. BNC believes that the popular casino game will increase revenue from the sale of in-world coins that are required to play its new and exciting Blackjack sweepstakes-based game. BNC previously introduced social gaming on the Platform with the release of roulette, offering users an opportunity to play for fun or real money prizes through a sweepstakes model. The introduction of coin packages in the Platform, which users can purchase in varying denominations, has generated a revenue opportunity for BNC. BNC looks forward to adding other games in the future that are currently under development. "We are very pleased that the Platform will be launching Blackjack as a part of its social gaming experience. I am excited to see the team at BNC harnessing its potential to generate significant revenue. More importantly, this new addition underscores BNC’s commitment to deliver a rich, engaging metaverse experience. While it’s still early in the ramp-up cycle, there is tremendous potential for future growth. There is a world of opportunities yet to be explored," stated Milton "Todd" Ault, III, Executive Chairman of the Company and BNC. Users can access and explore the early-access version of the Platform and receive updates by visiting https://BitNile.com . Sweepstakes are only open to residents of the United States (other than residents of Idaho and Washington) who are at least eighteen years old or the age of majority in their jurisdiction (whichever occurs later) at the time of entry. Participation is void where prohibited by law. Story continues For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or available at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20230828756027/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235', 'Bitcoin fell with most of the top 10 non-stablecoin cryptocurrencies in afternoon trading in Asia on Monday as traders remained cautious after Federal Reserve chair Jerome Powell said at the Jackson Hole Symposium on Friday that tight monetary policy is necessary until inflation slows down significantly.\nSee related article:DeFi revenue remains resilient despite Curve Finance hack\nBitcoin lost 0.44% to US$25,915 in 24 hours to 4 p.m. in Hong Kong, bringing its weekly losses to 0.36%. The world’s biggest cryptocurrency’s market capitalization fell 0.41% to US$504.7 billion as its trading volume rose 40.10% in the past 24 hours, according to CoinMarketCapdata.\n“The cryptocurrency market is witnessing a downward trend on Monday, with Bitcoin and most major alternative currencies trading in the red zone,” Rania Gule, market analyst at multi-asset brokerage firm XS.com, said in an emailed statement on Monday.\nAccording to Gule, the drop in prices comes after Powell said in his keynote address at the Jackson Hole Symposium that the central bank is prepared to raise interest rates further, if necessary, adding that future decisions would be made with caution.\n“Bitcoin prices have been trading within a tight range between US$25,752 and US$26,282 over the past few days. Meanwhile, technical indicators are approaching the overbought zone on both the short and medium-term scales, suggesting a potential upward reversal for Bitcoin,” Gule said.\n“However, there won’t be a significant upward movement without a strong breach of the formidable resistance level at US$30,000 and a daily close above it. At the same time, the bearish sentiment still holds sway over Bitcoin and the digital currency market in the short term, with potential targets of US$25,500 and US$25,100, respectively,” Gule added.\nAlmost all top 10 non-stablecoin cryptocurrencies dropped in the past 24 hours, except Tron, which gained 0.11% to US$0.07732, and posted a 2.37% rise on the week.\nBNB, the native token of world’s largest crypto exchange Binance, lost 0.32% to US$216, although it has gained 0.66% on the week. According to a Wall Street Journal report on Friday, Binance hasremovedsanctioned Russian banks from its peer-to-peer trading service, and has reportedly ceased processing transactions involving five blacklisted Russian banks.\nThe total crypto market capitalization dropped 0.62% to US$1.04 trillion while market volume gained 27.69% to US$18.86 billion in the past 24 hours.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe mainForkast 500 NFT indexedged up 0.18% to 2,245.24 in 24 hours to 7 p.m. in Hong Kong, dropping 3.54% in the past seven days. Forkast’s Ethereum and Polygon indexes logged losses while the Solana index gained in the past 24 hours.\nAt the same time, the total non-fungible token (NFT) sales volume gained 5.04% to US$10.15 million, according to CryptoSlamdata. However, NFT transactions took an 11.84% dip while the number of NFT buyers declined 4.27%.\n“Daily sales on Saturday and Sunday failed to cross US$10 million, bringing us down to daily lows we last saw in June of 2021. Weekly sales too fell to a 115-week low with just US$81 million in sales last week,” said Yehudah Petscher, NFT Strategist at Forkast Labs.\n“We were heading in this direction anyway. It’s the slower time of the year and additionally weekends are slow,” Petscher explained.\nThis weekend, Ethereum-based Bored Ape Yacht Club celebrated the two-year anniversary of the Mutant Apes and hosted a party in Miami.\n“This probably took a lot of traders out of action for the weekend, so we’ll see if this week and upcoming weekend bounce back. But I expect us to keep finding fresh new lows for the rest of the year,” he added.\nAll major Asian stock markets rose at the end of trading hours on Monday after China introduced new measures to lift its capital markets.\nThe world’s second largest economy halvedstamp dutyon stock transactions to 0.05%, reportedly the first such move since 2008. China also lowered margin requirements for buying securities to 80% from 100%.\nChina’sShanghai CompositeandShenzhen Component Index, Japan’sNikkei 225, Hong Kong’sHang Seng, and South Korea’sKospiall closed the day in the green.\n“These policies will only help in the short term, as investors are still concerned about China’s fundamental problems including the property crisis and the economic slowdown,” said Kenny Wen, head of investment strategy at financial services provider KGI Asia, according to a South China Morning Postreport.\nEarlier this month, Nomura Holdings Inc.loweredthis year’s growth forecast for China to 4.6% from an earlier estimate of 5.1%. Morgan StanleycutChina’s 2023 growth forecast to 4.7%, while JPMorgan Chase & Co. lowered itsoutlookto 4.8%.\nU.S. stock futures rose as of 8 p.m. in Hong Kong on Monday, following Fed Chair Powell’s speech at the Jackson Hole Economic Symposium on Friday. The Dow Jones Industrial Average futures, the S&P 500 futures, and the Nasdaq 100 Futures were all in the green.\n“The Jackson Hole speech’s cautious tone, in our view, was meant less to suggest that more rate hikes are coming, and more to prevent the market from getting excited about the timing of eventual rate cuts,” Singapore-headquartered DBS said in aresearch noteon Monday.\n“Looking at market pricing, there are still some bets on additional rate hikes this year, which we think will prove to be wrong. As for next year’s pricing, we are in line with the view that about 100bps in rate cuts can be expected in 2H24, by which time growth would be substantially lower, along with hardly any risk of inflation rebound,” DBS said.\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years.\nEuropean bourses gained on Monday, with the benchmark STOXX 600 and Germany’s DAX 40 rising during afternoon trading hours in Europe.\nEuropean Central Bank’s President Christine Lagardesaidon Friday that the central bank will keep interest rates as high as required for whatever time it takes to bring inflation back to its target.\n“In the current environment, this means — for the ECB — setting interest rates at sufficiently restrictive levels for as long as necessary to achieve a timely return of inflation to our 2% medium-term target,” Lagarde said in a speech at Jackson Hole on Friday, according to a Bloombergreport.\n(updates with equities section.)', 'Bitcoin fell with most of the top 10 non-stablecoin cryptocurrencies in afternoon trading in Asia on Monday as traders remained cautious after Federal Reserve chair Jerome Powell said at the Jackson Hole Symposium on Friday that tight monetary policy is necessary until inflation slows down significantly. See related article: DeFi revenue remains resilient despite Curve Finance hack Bitcoin hungover post-Jackson Hole weekend Bitcoin lost 0.44% to US$25,915 in 24 hours to 4 p.m. in Hong Kong, bringing its weekly losses to 0.36%. The world’s biggest cryptocurrency’s market capitalization fell 0.41% to US$504.7 billion as its trading volume rose 40.10% in the past 24 hours, according to CoinMarketCap data . “The cryptocurrency market is witnessing a downward trend on Monday, with Bitcoin and most major alternative currencies trading in the red zone,” Rania Gule, market analyst at multi-asset brokerage firm XS.com, said in an emailed statement on Monday. According to Gule, the drop in prices comes after Powell said in his keynote address at the Jackson Hole Symposium that the central bank is prepared to raise interest rates further, if necessary, adding that future decisions would be made with caution. “Bitcoin prices have been trading within a tight range between US$25,752 and US$26,282 over the past few days. Meanwhile, technical indicators are approaching the overbought zone on both the short and medium-term scales, suggesting a potential upward reversal for Bitcoin,” Gule said. “However, there won’t be a significant upward movement without a strong breach of the formidable resistance level at US$30,000 and a daily close above it. At the same time, the bearish sentiment still holds sway over Bitcoin and the digital currency market in the short term, with potential targets of US$25,500 and US$25,100, respectively,” Gule added. Almost all top 10 non-stablecoin cryptocurrencies dropped in the past 24 hours, except Tron, which gained 0.11% to US$0.07732, and posted a 2.37% rise on the week. BNB, the native token of world’s largest crypto exchange Binance,
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-28
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $508,494,888,606
- Hash Rate: 326264924.27253294
- Transaction Count: 331345.0
- Unique Addresses: 636935.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.39
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: U.S. Democratic presidential candidate Robert F. Kennedy Jr. has again jumped to defend Bitcoin , endorsing arguments that the environmental impact of the world’s largest cryptocurrency isn't nearly as dangerous as it's reported. Commenting on Sangha Systems director Daniel Feldman’s recent Twitter thread describing how a “symbiotic relationship” between Bitcoin mining and the energy produced from renewable sources “solves problems and makes the other better,” RFK Jr. called it an “interesting argument.” Sangha Systems is a multi-pronged firm that's launched a Bitcoin mining firm in Illinois called 82 River North and reportedly operates the "resilience token" in collaboration with Aon Insurance. “At the very least, environmental argument should not be used as smokescreen to curtail freedom to transact,” he added. Interesting argument that bitcoin not so bad for the environment after all. At the very least, environmental argument should not be used as smokescreen to curtail freedom to transact. #Kennedy24 https://t.co/0BNbIJ9eoD — Robert F. Kennedy Jr (@RobertKennedyJr) July 30, 2023 Reciting a catalog of alleged advantages Bitcoin mining brings to the economy, Feldman emphasized that, contrary to popular media narratives, it is “a solution to improve the electric grid and lessen reliance on fossil fuels.” The problem, he wrote, is that most renewable energy sites are not profitable without government subsidies. Feldman further argues that “the usual terms of climate debate must turn away from polarization and towards innovation,” which is especially relevant in circumstances when “green energy investor focus is often not energy sales, but is instead the contrived / creative financial engineering involved in maximizing tax credits.” Story continues Death of 'Anti-Mining' Bill Means Texas Miners Can Keep Raking in Energy Credits “The flow of these tax credits are controlled by the large banks that get bailed out in times of financial crisis, the very same banks Bitcoin will free us from,” said Feldman, adding that “Bitcoin mining creates a global market for electricity that will encourage investment into renewable energy projects with a new revenue frontier.” Robert F. Kennedy Jr. and Bitcoin While Kennedy’s chances of winning the Democratic party's nomination are relatively low, with bookmakers putting his odds earlier this month at around 11% , he's nonetheless drawn the support of many Bitcoin maximalists in recent months. The 69-year-old politician praised Bitcoin during a keynote address at Bitcoin 2023 in Miami in May, saying it was the Canadian government’s move to clamp down on truck drivers protesting COVID-19 restrictions at the beginning of 2022 by freezing bank accounts that helped him understand Bitcoin’s value. Ron DeSantis Banned CBDCs in Florida—These States Could Be Next Kennedy also said that supporting Bitcoin is both an “exercise and a guarantee” of civil liberties he’s committed to protecting. He later slammed central bank digital currencies ( CBDCs ), calling them "instruments of control and oppression” that “are certain to be abused.” Last week, Kennedy revealed he even bought a total of 14 Bitcoin—two for each of his seven children. Crypto's climate concerns In recent years, the environmental impact of Bitcoin has been a subject of significant debate and concern, mainly due to the fact that Bitcoin mining, the process through which new coins are created and transactions are verified, heavily relies on energy-intensive computational power. Additionally, there have been ongoing discussions about implementing more energy-efficient consensus mechanisms to reduce the environmental impact of Bitcoin mining. 'Unsubstantiated': Expert Refutes Greenpeace Bitcoin Mining Pollution Claims One such organization urging Bitcoin-friendly financial services companies to switch to what it calls a “cleaner protocol,” is Greenpeace USA, however, as Daniel Batten, the co-founder of an ESG focused-fund manager CH4 Capital, recently stated , many of the facts and figures used by the non-profit to demonstrate Bitcoin’s environmental harm are misleading, if not outright false. According to data from Cambridge University , global Bitcoin mining operations currently use an estimated 137 TW/h (terawatt hours) per year, which is slightly more than the entire country of Ukraine with 134 TW/h. To address these concerns, some initiatives have emerged to promote sustainable mining practices and the use of renewable energy sources for Bitcoin mining....
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['The world of digital assets is one that’s grown in prominence in recent years. A decade ago, most investors couldn’t really describe a cryptocurrency or non-fungible token (NFT). However, it’s a completely different game now. The rise of digital assets during this past bull market changed the game for growth investors, many of whom profited in a big way from the growth of these nascent assets.\nMoving froward, the question is whether these particular digital assets are better bets than the infrastructure supporting this sector. Indeed, it’s my view that certain crypto-adjacent companies may be better-positioned to provide more stable growth over time than the underlying assets themselves.\nKeeping this in mind, let’s take a look at three digital asset stocks worth adding to the watch list now.\nInvestorPlace - Stock Market News, Stock Advice & Trading Tips\nSource: Useacoin / Shutterstock.com\nDespite a significant 2022 sell-off,Coinbase(NASDAQ:COIN) stock surged by 180% this year, remaining below its previous highs. Trading 73% lower than its 2021 all-time high, Coinbase still offers a rebound opportunity, given the distance it will take to regain its previous highs.\nIn Q2, the second-largest crypto exchange earned $707.9 million in total revenues, a decline from the prior quarter’s $772.5 million and the year-ago $808.3 million. Despite a $97 million net loss, an adjusted EBITDA of $194 million emerged. Analyst estimates varied, yet the results have brought relief to crypto bulls and shareholders.\nFor those bullish on the ability of centralized exchanges to grow, Coinbase remains the top pick in this regard. If crypto trading volumes pick up, this company will undoubtedly be the biggest beneficiary of such a catalyst.\nSource: Yev_1234 / Shutterstock\nMarathon Digital(NASDAQ:MARA) is a well-known cryptocurrency mining company currently trading on the Nasdaq exchange. While intriguing, it’s a long-term play with risks and potential rewards. Let’s delve into the details of this notableBitcoin(BTC-USD) miner.\nMARA stock has corrected from its recent high to below $14, and with significant short interest, a reversal rally is possible. Despite Q2 revenue and earnings miss, Marathon’soperational hash rate is 17.7EH/s, growing to 21.8EH/s, indicating positive mining capacity growth and a promising outlook.\nFor those seeking a crypto-related investment without a spot Bitcoin ETF, consider Marathon Digital. Do your research, monitor news, and be cautious due to associated risks. MARA stock provides investors with indirect exposure to Bitcoin prices, so volatility may remain high. That said, those bullish on where Bitcoin will trade a few years down the road may have greater upside with MARA, given this leveraged relationship.\nSource: rafapress / Shutterstock.com\nRiot Platforms(NASDAQ:RIOT) is a top choice for investing in Bitcoin mining, especially after a recent 40% correction. The stock’s appeal is boosted by its robust balance sheet, with no debt and $510 million in cash and digital assets byQ2 2023, ensuring flexibility for expansion.\nBy Q2 2023, Riot had amining capacity of 10.7EH/s, marking a 143% year-over-year increase. Notably, capacity is set to further surge due to a June miner purchase agreement. This move aims to reach 20.1EH/s by mid-2024 and potentially expand to 35.4EH/s by the end of next year. Despite halving-related mining challenges, a potential cryptocurrency surge could counterbalance. Riot’s aggressive mining capacity expansion plans contribute to a positive outlook.\nOn the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.\xa0The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.\nChris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.\n• ChatGPT IPO Could Shock the World, Make This Move Before the Announcement\n• Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.\n• The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors\nThe post3 Digital Asset Stocks That Are Better Bets Than Cryptoappeared first onInvestorPlace.', 'The world of digital assets is one that’s grown in prominence in recent years. A decade ago, most investors couldn’t really describe a cryptocurrency or non-fungible token ( NFT ). However, it’s a completely different game now. The rise of digital assets during this past bull market changed the game for growth investors, many of whom profited in a big way from the growth of these nascent assets. Moving froward, the question is whether these particular digital assets are better bets than the infrastructure supporting this sector. Indeed, it’s my view that certain crypto-adjacent companies may be better-positioned to provide more stable growth over time than the underlying assets themselves. Keeping this in mind, let’s take a look at three digital asset stocks worth adding to the watch list now. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Coinbase (COIN) A stack of bitcoin tokens ahead of the Coinbase logo. Source: Useacoin / Shutterstock.com Despite a significant 2022 sell-off, Coinbase (NASDAQ: COIN ) stock surged by 180% this year, remaining below its previous highs. Trading 73% lower than its 2021 all-time high, Coinbase still offers a rebound opportunity, given the distance it will take to regain its previous highs. In Q2 , the second-largest crypto exchange earned $707.9 million in total revenues, a decline from the prior quarter’s $772.5 million and the year-ago $808.3 million. Despite a $97 million net loss, an adjusted EBITDA of $194 million emerged. Analyst estimates varied, yet the results have brought relief to crypto bulls and shareholders. For those bullish on the ability of centralized exchanges to grow, Coinbase remains the top pick in this regard. If crypto trading volumes pick up, this company will undoubtedly be the biggest beneficiary of such a catalyst. Marathon Digital Holdings (MARA) Macro view of miner working for bitcoins mine pool. Devices and technology for mining cryptocurrency. Mining cryptocurrency concept. MARA stock. Crypto mining. Source: Yev_1234 / Shutterstock Marathon Digital (NASDAQ: MARA ) is a well-known cryptocurrency mining company currently trading on the Nasdaq exchange. While intriguing, it’s a long-term play with risks and potential rewards. Let’s delve into the details of this notable Bitcoin ( BTC-USD ) miner. Story continues MARA stock has corrected from its recent high to below $14, and with significant short interest, a reversal rally is possible. Despite Q2 revenue and earnings miss, Marathon’s operational hash rate is 17.7EH/s , growing to 21.8EH/s, indicating positive mining capacity growth and a promising outlook. For those seeking a crypto-related investment without a spot Bitcoin ETF, consider Marathon Digital. Do your research, monitor news, and be cautious due to associated risks. MARA stock provides investors with indirect exposure to Bitcoin prices, so volatility may remain high. That said, those bullish on where Bitcoin will trade a few years down the road may have greater upside with MARA, given this leveraged relationship. Riot Platforms (RIOT) In this photo illustration, the Riot Platforms (RIOT) logo is displayed on a smartphone screen. Source: rafapress / Shutterstock.com Riot Platforms (NASDAQ: RIOT ) is a top choice for investing in Bitcoin mining, especially after a recent 40% correction. The stock’s appeal is boosted by its robust balance sheet, with no debt and $510 million in cash and digital assets by Q2 2023 , ensuring flexibility for expansion. By Q2 2023, Riot had a mining capacity of 10.7EH/s , marking a 143% year-over-year increase. Notably, capacity is set to further surge due to a June miner purchase agreement. This move aims to reach 20.1EH/s by mid-2024 and potentially expand to 35.4EH/s by the end of next year. Despite halving-related mining challenges, a potential cryptocurrency surge could counterbalance. Riot’s aggressive mining capacity expansion plans contribute to a positive outlook. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.\xa0The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Digital Asset Stocks That Are Better Bets Than Crypto appeared first on InvestorPlace .', "Bitcoin and Ether were little changed on Tuesday morning in Asia, while other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA led the gains following bullish comments from founder Charles Hoskinson. He predicted a surge in price past both Ether and Bitcoin. Solana’s SOL posted more losses, despite last week’s news of Solana Pay’s tie-up with Shopify. Analysts expect the generally downbeat summer mood in the crypto market to pick up in fall. Elsewhere, the Forkast 500 NFT Index continued to decline, reflecting more bad news for the NFT industry. The U.S. Securities and Exchange Commission (SEC) announced Monday it has charged L.A.-based media company Impact Theory LLC with securities violations related to its offering of NFTs. Meanwhile, U.S. equity futures were trading flat after Monday’s gains. Summer blues Bitcoin edged down 0.12% for the last 24 hours to US$26,050.51 as of 07:00 a.m. in Hong Kong. The token is down 0.30% for the week, according to CoinMarketCap data . The world’s leading cryptocurrency reached a high of US$26,198.58 in the early hours of the morning before falling back. Ether also dipped 0.40% to US$1,650.23 for a 0.99% weekly loss. “There might be another selloff taking place, but currently we’ve experienced the standard August and September correction, through which it seems likely that we won’t be continuing that fall for long and rather have an upwards trend from here on out,” Michaël van de Poppe, CEO of Amsterdam-based crypto trading company MN Trading, said via email. Van de Poppe’s comments were in line with a report by JPMorgan Chase & Co. that forecast “limited downside” for the crypto market as losses slow. The U.S. banking giant’s analysts found a drop in the number of Bitcoin-linked futures contracts on exchanges that are yet to be settled — a sign that downward price movement is losing its momentum. “We’ll be having a potential run from here,” Van de Poppe said in a weekend tweet. “This rally should most likely occur in Q4 of 2023, during a good period for crypto markets (October-December tend to be this).” Story continues Did #Bitcoin bottom on this correction or are we expecting $20K? The Million Dollar question is whether #Bitcoin is done on this correction, or whether we'll see more pain. If you'd ask people before the drop, you'd be getting a more bullish answer. If you'd ask people right… pic.twitter.com/9niq2jhw5k — Michaël van de Poppe (@CryptoMichNL) August 26, 2023 Van de Poppe pointed to Bitcoin’s next halving event, which is expected to occur on April 16, 2024, as a cause for optimism from the fourth quarter of this year. The halving event will see the amount of new Bitcoin issued every 10 minutes cut in half, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price. He also highlighted this week’s release in the U.S. of employment data and the purchasing managers’ index as further potential boosts for Bitcoin’s price. The SEC’s decision on Bitcoin exchange-traded fund applications from investment heavyweights BlackRock, Fidelity and others will also play a role, Van de Poppe said. Some of those decisions could be made as early as Saturday. Other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA led the winners, rising 1.46% to US$0.2669 for a weekly gain of 1.24%. Cardano blockchain founder Charles Hoskinson, appearing at Denver-based conference Rare Evo on Saturday, predicted that ADA will overtake Bitcoin and Ethereum to become the world’s largest cryptocurrency. ADA is currently the world’s seventh largest crypto, with a market capitalization of US$9.36 billion. Meanwhile, Solana’s SOL led the losers. It fell 1.35% to US$20.50 for a weekly loss of 3.61%. Those losses arrived despite the news that Solana Pay — a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees. The token gained briefly on Aug. 24, the day of the Solana Pay announcement. It added 7% to US$21.98 before falling back. Benjamin Stani, director of business development at Hong Kong-based digital asset broker Matrixport, said that the integration of Solana with a mainstream shopping app was a minor victory for the industry and wouldn’t have much effect on markets. “This is just another step towards stablecoins going mainstream in line with PayPal’s PYUSD,” he said. He added that, while good news for Solana, its “not really a major breakthrough.” Prepare for an NFT bloodbath The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index fell 0.16% over the past 24 hours to 2,240.52 as of 7:30 a.m. in Hong Kong, down 3.25% for the week. Forkast’s Ethereum, Polygon and Cardano indexes moved down, while the Solana index rose. The NFT industry was reacting Tuesday to more bad regulatory news from the U.S.. The SEC announced Monday it has charged Los Angeles-based media company Impact Theory with offering and selling NFTs as unregistered securities. The charges are the first brought by the regulator against an NFT project. The SEC suing Impact Theory for selling NFT securities is a pretty big deal. Because if you take a closer look at the details, the description applies to quite a few NFT projects – probably also to one you are holding right now. pic.twitter.com/75kY0QQIDG — wale.swoosh 🐳 (@waleswoosh) August 28, 2023 According to the SEC, the company earned almost US$30 million by selling digital tokens, known as Founder’s Keys, to hundreds of investors in late 2021. The agency announcement said that, while Impact Theory has not accepted or denied the charges, it has agreed to pay US$6.1 million in fines and to destroy all the Founder’s Keys it controls. “Prepare for a bloodbath in the NFT markets,” wrote Yehudah Petscher, NFT strategist for Forkast Labs. “Surprisingly, the community seems to have been caught largely off guard, which makes me more concerned in the short term about NFTs’ value.” Petscher said he expects the SEC to pursue charges against more NFT projects in the future. NFT prices will plummet as a result, he said, as traders rush out of the market. “This will be how the market finds its bottom, but we are far away from that actually coming into picture,” Petscher added. Total NFT trading volume rose 3.23% in the past 24 hours to US$9.94 million. Volume on Ethereum fell while the other top five chains — Solana, Mythos, ImmutableX and Polygon — all logged increases, according to data from CryptoSlam. In terms of NFT collections, blockchain gaming-based titles occupied the top five positions in CryptoSlam’s ranking. Mythos chain-based DMarket took top spot at US$857,652 in trade volume. It was followed by Gods Unchained, Sorare and DraftKings — all of which posted gains\xa0 — and PLAYNFT, which dropped 14.90%. Some macro positives Image: Envato Elements U.S. stock futures were trading flat as of 10:20 a.m. in Hong Kong after Monday’s regular session gains. The main Asia stock indexes all rose. Hong Kong’s Hang Seng led the gains with a 1.29% rise on the back of positive developments in both the U.S. and China. The Chinese government, which has been exploring ways to address July’s bearish macroeconomic data, reportedly cut stamp duty on stock trading by 50% on Monday — a first since 2008. Beijing said it also plans to limit the number of new stock listings to help balance supply and demand. However, experts say these measures may not be enough to encourage investors. “If they still feel bearish on the economic recovery of China, then it may be difficult to convince them to buy shares just because of these technical changes,” Jason Lui, head of Asia-Pacific equity and derivative strategy for global markets at BNP Paribas, told The Wall Street Journal. Meanwhile, Federal Reserve chair Jerome Powell used his Jackson Hole speech Friday to say the U.S. economy has grown stronger. However, with inflation still above its 2% target, the Fed will “proceed carefully” on interest rates, he said. An unexpected rise in U.S. treasury yields in July and August could also complicate Fed policy. As of early afternoon trading in Asia, the yield on U.S. 10-year treasury bonds was 4.192% — up from 3.39% at the start of 2023 — a figure some analysts think could lead to further hikes. “Was he hawkish? Yes. But given the jump in yields lately, he wasn’t as hawkish as some had feared,” Ryan Detrick, chief market strategist at the Carson Group, told CNBC. Last week, Reuters reported that Philadelphia Fed President Patrick Harker and Boston Fed President Susan Collins both separately said the jump in bond yields could be positive for the Fed’s efforts to cool inflation. The Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. The CME FedWatch Tool predicts a 21.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 14.0% a week ago Investors now look toward U.S. economic data releases later this week, including the personal consumption expenditures price index on Thursday and the labor report Friday. (Updates to add Equities section)", 'Bitcoin and Ether were little changed on Tuesday morning in Asia, while other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA led the gains following bullish comments from founder Charles Hoskinson. He predicted a surge in price past both Ether and Bitcoin. Solana’s SOL posted more losses, despite last week’s news of Solana Pay’s tie-up with Shopify. Analysts expect the generally downbeat summer mood in the crypto market to pick up in fall. Elsewhere, the Forkast 500 NFT Index continued to decline, reflecting more bad news for the NFT industry. The U.S. Securities and Exchange Commission (SEC) announced Monday it has charged L.A.-based media company Impact Theory LLC with securities violations related to its offering of NFTs. Meanwhile, U.S. equity futures were trading flat after Monday’s gains.\nBitcoin edged down 0.12% for the last 24 hours to US$26,050.51 as of 07:00 a.m. in Hong Kong. The token is down 0.30% for the week, according to CoinMarketCapdata. The world’s leading cryptocurrency reached a high of US$26,198.58 in the early hours of the morning before falling back.\nEther also dipped 0.40% to US$1,650.23 for a 0.99% weekly loss.\n“There might be another selloff taking place, but currently we’ve experienced the standard August and September correction, through which it seems likely that we won’t be continuing that fall for long and rather have an upwards trend from here on out,” Michaël van de Poppe, CEO of Amsterdam-based crypto trading company MN Trading, said via email.\nVan de Poppe’s comments were in line with a report by JPMorgan Chase & Co. thatforecast“limited downside” for the crypto market as losses slow. The U.S. banking giant’s analysts found a drop in the number of Bitcoin-linked futures contracts on exchanges that are yet to be settled — a sign that downward price movement is losing its momentum.\n“We’ll be having a potential run from here,” Van de Poppe said in a weekend tweet. “This rally should most likely occur in Q4 of 2023, during a good period for crypto markets (October-December tend to be this).”\nVan de Poppe pointed to Bitcoin’s next halving event, which is expected to occur on April 16, 2024, as a cause for optimism from the fourth quarter of this year. The halving event will see the amount of new Bitcoin issued every 10 minutes cut in half, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price. He also highlighted this week’s release in the U.S. of employment data and the purchasing managers’ index as further potential boosts for Bitcoin’s price.\nThe SEC’s decision on Bitcoin exchange-traded fund applications from investment heavyweights BlackRock, Fidelity and others will also play a role, Van de Poppe said. Some of those decisions could be made as early as Saturday.\nOther top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA led the winners, rising 1.46% to US$0.2669 for a weekly gain of 1.24%.\nCardano blockchain founder Charles Hoskinson, appearing at Denver-based conferenceRare Evoon Saturday, predicted that ADA will overtake Bitcoin and Ethereum to become the world’s largest cryptocurrency. ADA is currently the world’s seventh largest crypto, with a market capitalization of US$9.36 billion.\nMeanwhile, Solana’s SOL led the losers. It fell 1.35% to US$20.50 for a weekly loss of 3.61%. Those losses arrived despite the news thatSolana Pay— a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees.\nThe token gained briefly on Aug. 24, the day of the Solana Pay announcement. It added 7% to US$21.98 before falling back.\nBenjamin Stani, director of business development at Hong Kong-based digital asset broker Matrixport, said that the integration of Solana with a mainstream shopping app was a minor victory for the industry and wouldn’t have much effect on markets.\n“This is just another step towards stablecoins going mainstream in line with PayPal’s PYUSD,” he said. He added that, while good news for Solana, its “not really a major breakthrough.”\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe main Forkast 500 NFT index fell 0.16% over the past 24 hours to 2,240.52 as of 7:30 a.m. in Hong Kong, down 3.25% for the week. Forkast’s Ethereum, Polygon and Cardano indexes moved down, while the Solana index rose.\nThe NFT industry was reacting Tuesday to more bad regulatory news from the U.S.. The SEC announced Monday it haschargedLos Angeles-based media company Impact Theory with offering and selling NFTs as unregistered securities. The charges are the first brought by the regulator against an NFT project.\nAccording to the SEC, the company earned almost US$30 million by selling digital tokens, known as Founder’s Keys, to hundreds of investors in late 2021. The agency announcement said that, while Impact Theory has not accepted or denied the charges, it has agreed to pay US$6.1 million in fines and to destroy all the Founder’s Keys it controls.\n“Prepare for a bloodbath in the NFT markets,” wrote Yehudah Petscher, NFT strategist for Forkast Labs. “Surprisingly, the community seems to have been caught largely off guard, which makes me more concerned in the short term about NFTs’ value.”\nPetscher said he expects the SEC to pursue charges against more NFT projects in the future. NFT prices will plummet as a result, he said, as traders rush out of the market.\n“This will be how the market finds its bottom, but we are far away from that actually coming into picture,” Petscher added.\nTotal NFT trading volume rose 3.23% in the past 24 hours to US$9.94 million. Volume on Ethereum fell while the other top five chains — Solana, Mythos, ImmutableX and Polygon — all logged increases, according todatafrom CryptoSlam.\nIn terms of NFT collections, blockchain gaming-based titles occupied the top five positions in CryptoSlam’s ranking. Mythos chain-based DMarket took top spot at US$857,652 in trade volume. It was followed by Gods Unchained, Sorare and DraftKings — all of which posted gains\xa0 — and PLAYNFT, which dropped 14.90%.\nU.S. stock futures were trading flat as of 10:20 a.m. in Hong Kong after Monday’s regular session gains. The main Asia stock indexes all rose. Hong Kong’s Hang Seng led the gains with a 1.29% rise on the back of positive developments in both the U.S. and China.\nThe Chinese government, which has beenexploringways to address July’s bearish macroeconomic data,reportedlycut stamp duty on stock trading by 50% on Monday — a first since 2008. Beijingsaidit also plans to limit the number of new stock listings to help balance supply and demand.\nHowever, experts say these measures may not be enough to encourage investors.\n“If they still feel bearish on the economic recovery of China, then it may be difficult to convince them to buy shares just because of these technical changes,” Jason Lui, head of Asia-Pacific equity and derivative strategy for global markets at BNP Paribas, told The Wall Street Journal.\nMeanwhile, Federal Reserve chair Jerome Powell used his Jackson HolespeechFriday to say the U.S. economy has grown stronger. However, with inflation still above its 2% target, the Fed will “proceed carefully” on interest rates, he said.\nAnunexpected risein U.S. treasury yields in July and August could also complicate Fed policy. As of early afternoon trading in Asia, the yield on U.S. 10-year treasury bonds was4.192%— up from 3.39% at the start of 2023 — a figure some analysts think could lead to further hikes.\n“Was he hawkish? Yes. But given the jump in yields lately, he wasn’t as hawkish as some had feared,” Ryan Detrick, chief market strategist at the Carson Group,toldCNBC. Last week, Reutersreportedthat Philadelphia Fed President Patrick Harker and Boston Fed President Susan Collins both separately said the jump in bond yields could be positive for the Fed’s efforts to cool inflation.\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. TheCME FedWatch Toolpredicts a 21.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 14.0% a week ago\nInvestors now look toward U.S. economic data releases later this week, including the personal consumption expenditures price index on Thursday and the labor report Friday.\n(Updates to add Equities section)', 'Bitcoin and Ether were little changed on Tuesday morning in Asia, while other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA led the gains following bullish comments from founder Charles Hoskinson. He predicted a surge in price past both Ether and Bitcoin. Solana’s SOL posted more losses, despite last week’s news of Solana Pay’s tie-up with Shopify. Analysts expect the generally downbeat summer mood in the crypto market to pick up in fall. Elsewhere, the Forkast 500 NFT Index continued to decline, reflecting more bad news for the NFT industry. The U.S. Securities and Exchange Commission (SEC) announced Monday it has charged L.A.-based media company Impact Theory LLC with securities violations related to its offering of NFTs. Meanwhile, U.S. equity futures were trading flat after Monday’s gains.\nBitcoin edged down 0.12% for the last 24 hours to US$26,050.51 as of 07:00 a.m. in Hong Kong. The token is down 0.30% for the week, according to CoinMarketCapdata. The world’s leading cryptocurrency reached a high of US$26,198.58 in the early hours of the morning before falling back.\nEther also dipped 0.40% to US$1,650.23 for a 0.99% weekly loss.\n“There might be another selloff taking place, but currently we’ve experienced the standard August and September correction, through which it seems likely that we won’t be continuing that fall for long and rather have an upwards trend from here on out,” Michaël van de Poppe, CEO of Amsterdam-based crypto trading company MN Trading, said via email.\nVan de Poppe’s comments were in line with a report by JPMorgan Chase & Co. thatforecast“limited downside” for the crypto market as losses slow. The U.S. banking giant’s analysts found a drop in the number of Bitcoin-linked futures contracts on exchanges that are yet to be settled — a sign that downward price movement is losing its momentum.\n“We’ll be having a potential run from here,” Van de Poppe said in a weekend tweet. “This rally should most likely occur in Q4 of 2023, during a good period for crypto markets (October-December tend to be this).”\nVan de Poppe pointed to Bitcoin’s next halving event, which is expected to occur on April 16, 2024, as a cause for optimism from the fourth quarter of this year. The halving event will see the amount of new Bitcoin issued every 10 minutes cut in half, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price. He also highlighted this week’s release in the U.S. of employment data and the purchasing managers’ index as further potential boosts for Bitcoin’s price.\nThe SEC’s decision on Bitcoin exchange-traded fund applications from investment heavyweights BlackRock, Fidelity and others will also play a role, Van de Poppe said. Some of those decisions could be made as early as Saturday.\nOther top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA led the winners, rising 1.46% to US$0.2669 for a weekly gain of 1.24%.\nCardano blockchain founder Charles Hoskinson, appearing at Denver-based conferenceRare Evoon Saturday, predicted that ADA will overtake Bitcoin and Ethereum to become the world’s largest cryptocurrency. ADA is currently the world’s seventh largest crypto, with a market capitalization of US$9.36 billion.\nMeanwhile, Solana’s SOL led the losers. It fell 1.35% to US$20.50 for a weekly loss of 3.61%. Those losses arrived despite the news thatSolana Pay— a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees.\nThe token gained briefly on Aug. 24, the day of the Solana Pay announcement. It added 7% to US$21.98 before falling back.\nBenjamin Stani, director of business development at Hong Kong-based digital asset broker Matrixport, said that the integration of Solana with a mainstream shopping app was a minor victory for the industry and wouldn’t have much effect on markets.\n“This is just another step towards stablecoins going mainstream in line with PayPal’s PYUSD,” he said. He added that, while good news for Solana, its “not really a major breakthrough.”\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe main Forkast 500 NFT index fell 0.16% over the past 24 hours to 2,240.52 as of 7:30 a.m. in Hong Kong, down 3.25% for the week. Forkast’s Ethereum, Polygon and Cardano indexes moved down, while the Solana index rose.\nThe NFT industry was reacting Tuesday to more bad regulatory news from the U.S.. The SEC announced Monday it haschargedLos Angeles-based media company Impact Theory with offering and selling NFTs as unregistered securities. The charges are the first brought by the regulator against an NFT project.\nAccording to the SEC, the company earned almost US$30 million by selling digital tokens, known as Founder’s Keys, to hundreds of investors in late 2021. The agency announcement said that, while Impact Theory has not accepted or denied the charges, it has agreed to pay US$6.1 million in fines and to destroy all the Founder’s Keys it controls.\n“Prepare for a bloodbath in the NFT markets,” wrote Yehudah Petscher, NFT strategist for Forkast Labs. “Surprisingly, the community seems to have been caught largely off guard, which makes me more concerned in the short term about NFTs’ value.”\nPetscher said he expects the SEC to pursue charges against more NFT projects in the future. NFT prices will plummet as a result, he said, as traders rush out of the market.\n“This will be how the market finds its bottom, but we are far away from that actually coming into picture,” Petscher added.\nTotal NFT trading volume rose 3.23% in the past 24 hours to US$9.94 million. Volume on Ethereum fell while the other top five chains — Solana, Mythos, ImmutableX and Polygon — all logged increases, according todatafrom CryptoSlam.\nIn terms of NFT collections, blockchain gaming-based titles occupied the top five positions in CryptoSlam’s ranking. Mythos chain-based DMarket took top spot at US$857,652 in trade volume. It was followed by Gods Unchained, Sorare and DraftKings — all of which posted gains\xa0 — and PLAYNFT, which dropped 14.90%.\nU.S. stock futures were trading flat as of 10:20 a.m. in Hong Kong after Monday’s regular session gains. The main Asia stock indexes all rose. Hong Kong’s Hang Seng led the gains with a 1.29% rise on the back of positive developments in both the U.S. and China.\nThe Chinese government, which has beenexploringways to address July’s bearish macroeconomic data,reportedlycut stamp duty on stock trading by 50% on Monday — a first since 2008. Beijingsaidit also plans to limit the number of new stock listings to help balance supply and demand.\nHowever, experts say these measures may not be enough to encourage investors.\n“If they still feel bearish on the economic recovery of China, then it may be difficult to convince them to buy shares just because of these technical changes,” Jason Lui, head of Asia-Pacific equity and derivative strategy for global markets at BNP Paribas, told The Wall Street Journal.\nMeanwhile, Federal Reserve chair Jerome Powell used his Jackson HolespeechFriday to say the U.S. economy has grown stronger. However, with inflation still above its 2% target, the Fed will “proceed carefully” on interest rates, he said.\nAnunexpected risein U.S. treasury yields in July and August could also complicate Fed policy. As of early afternoon trading in Asia, the yield on U.S. 10-year treasury bonds was4.192%— up from 3.39% at the start of 2023 — a figure some analysts think could lead to further hikes.\n“Was he hawkish? Yes. But given the jump in yields lately, he wasn’t as hawkish as some had feared,” Ryan Detrick, chief market strategist at the Carson Group,toldCNBC. Last week, Reutersreportedthat Philadelphia Fed President Patrick Harker and Boston Fed President Susan Collins both separately said the jump in bond yields could be positive for the Fed’s efforts to cool inflation.\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. TheCME FedWatch Toolpredicts a 21.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 14.0% a week ago\nInvestors now look toward U.S. economic data releases later this week, including the personal consumption expenditures price index on Thursday and the labor report Friday.\n(Updates to add Equities section)', 'Federal Reserve Chairman Jerome Powell participates in a meeting of the Financial Stability Oversight Council at the U.S. Treasury on July 28, 2023 in Washington, DC. Kevin Dietsch/Getty Images Monday saw stocks gain modestly as bond yields retreated from August highs. But a larger rally could be complicated by a higher-for-longer interest rate regime. The Personal Consumer Expenditures Price Index, the Fed\'s preferred inflation gauge, will be released Thursday. Stocks saw modest gains on Monday as investors tried to claw back the month\'s losses amid lower bond yields and a busy week of economic data points. Equities gained as the 10-year Treasury yield retreated from August highs above 4.3%, although last week\'s central bank symposium reaffirmed a higher-for-longer interest rate regime. In his remarks, Chairman Jerome Powell noted that the Federal Reserve would "proceed carefully" with further hikes and could stay aggressive if inflation persists. Markets think the Fed will keep rates steady at its policy meeting next month, but see about 50% odds that the central bank raises interest rates by a quarter of a percentage point in November. Upcoming inflation data this week will further inform investors about the potential path of monetary policy. The latest Personal Consumer Expenditures Price Index data, the Fed\'s preferred gauge of inflation, will be released Thursday, followed the August nonfarm payrolls report on Friday. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Monday: S&P 500 : 4,433.31, up 0.63% Dow Jones Industrial Average : 34,559.98, up 0.62% (+213.08 points) Nasdaq Composite : 13,705.13, up 0.84% Here\'s what else is going on today: China\'s efforts to bolster its markets ended in a temporary comeback — only to fall flat again . For the stock market to rise another 9% before the year\'s end, here are two things the Fed has to do , Jeremy Siegel says. Zillow predicts that housing market prices could climb another 6% this year. New home prices in China could see zero growth this year, as the property sector could keep falling. The Chinese offshore yuan is set to hit an all-time low this year , economists predict. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil was up 0.36% to $80.12 a barrel. Brent , the international benchmark, edged lower to $84.47 a barrel. Gold gained 0.4% to $1,947.70 an ounce. The yield on the 10-year Treasury declined 3.7 basis points to 4.202%. Bitcoin slid 0.37% to $25.993.9. Read the original article on Business Insider', '• Monday saw stocks gain modestly as bond yields retreated from August highs.\n• But a larger rally could be complicated by a higher-for-longer interest rate regime.\n• The Personal Consumer Expenditures Price Index, the Fed\'s preferred inflation gauge, will be released Thursday.\nStocks saw modest gains on Monday as investors tried to claw back the month\'s losses amid lower bond yields and a busy week of economic data points.\nEquities gained as the 10-year Treasury yield retreated from August highs above 4.3%, although last week\'s central bank symposium reaffirmed a higher-for-longer interest rate regime. In his remarks, Chairman Jerome Powell noted that the Federal Reserve would "proceed carefully" with further hikes and could stay aggressive if inflation persists.\nMarkets think the Fed will keep rates steady at its policy meeting next month, but see about 50% odds that the central bank raises interest rates by a quarter of a percentage point in November.\nUpcoming inflation data this week will further inform investors about the potential path of monetary policy. The latest Personal Consumer Expenditures Price Index data, the Fed\'s preferred gauge of inflation, will be released Thursday, followed the August nonfarm payrolls report on Friday.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Monday:\n• S&P 500: 4,433.31, up 0.63%\n• Dow Jones Industrial Average: 34,559.98, up 0.62% (+213.08 points)\n• Nasdaq Composite: 13,705.13, up 0.84%\nHere\'s what else is going on today:\n• China\'s efforts to bolster its markets ended in a temporary comeback — only tofall flat again.\n• For the stock market to rise another 9% before the year\'s end, here aretwo things the Fed has to do, Jeremy Siegel says.\n• Zillow predicts thathousing market prices could climb another 6%this year.\n• New home prices in Chinacould see zero growth this year, as the property sector could keep falling.\n• The Chinese offshore yuan is set tohit an all-time low this year, economists predict.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil was up 0.36% to $80.12 a barrel.Brent, the international benchmark, edged lower to $84.47 a barrel.\n• Goldgained 0.4% to $1,947.70 an ounce.\n• The yield on the 10-year Treasury declined 3.7 basis points to 4.202%.\n• Bitcoinslid 0.37% to $25.993.9.\nRead the original article onBusiness Insider', 'LONDON, UK / ACCESSWIRE / August 29, 2023 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to announce its results for the six months to 30 June 2023. Highlights Reduced non-mining operating costs and expenses by 21% in Q2 2023 compared to the prior quarter, resulting in a positive Adjusted EBITDA of $1.0 million for the quarter (Adjusted EBITDA of $2.3 million for H1 2023) Reduced debt by $4 million during the quarter to $75 million as of 30 June 2023, a $68 million reduction from $143 million at 30 June 2022 Total number of Bitcoin and Bitcoin Equivalent ("BTC") mined during H1 2023 was 947, a 1% increase over the BTC mined in H1 2022, despite a 78% increase in the global hashrate from 30 June 2022 to 30 June 2023 Revenues of $24.0 million for H1 2023, a decrease of 31% from H1 2022, driven primarily by a decrease in Bitcoin price and the increase in the global hashrate and associated network difficulty Net loss was $18.8 million for H1 2023, compared to a net loss of $39.6 million in H1 2022 The Company ended June 2023 with $9.1 million of cash and 46 Bitcoin or Bitcoin Equivalent (together, "BTC") on its balance sheet; post the period end, the Company raised $7.5 million in gross proceeds via a share placement in July 2023 Post-period highlights Increased total hashrate capacity to 2.6 EH/s with the deployment of 1,242 BlockMiner machines at its Quebec facilities Expect to deploy an additional 1,628 BlockMiners in the coming months, increasing the Company\'s total hashrate capacity to 2.8 EH/s In July 2023, the Company raised $7.5 million of gross proceeds via a share placement with institutional and retail investors in the UK; the Company used a portion of these proceeds to repay approximately $1.8 million in debt, and the Company\'s debt balance at the end of July 2023 was $72 million The Company is involved in advanced discussions to sell certain non-core assets, and it continues to evaluate options for further reducing debt Story continues Fixed Price Power Purchase Agreement at Helios During H1 2023, the Company achieved a mining margin of 42%, which is an increase from the mining margin in H2 2022 of 33%. One of the primary drivers of the improved mining margin was the establishment of a fixed price power purchase agreement ("PPA") at Helios in H1 2023, which covers a substantial portion of the facility\'s electricity load. In addition to providing greater certainty of power costs at Helios going forward, the fixed price PPA also allows the Company to generate power credits via economic curtailment. In Q2 2023, the Company generated approximately $1.1 million in power credits, and it expects to generate more significant power credits during Q3 2023 as a result of the continued heat wave in Texas. Non-IFRS Measures The following table shows a reconciliation of mining margin percentage to gross margin, the most directly comparable IFRS measure, for the six month periods ended 30 June 2023 and 30 June 2022. Period ended Period ended 30 June 2023 30 June 2022 (unaudited) (unaudited) $\'000 $\'000 Gross margin (1,371) (44,651) Gross margin percentage (6%) (129%) Depreciation of mining equipment 12,047 14,081 Change in fair value of digital currencies (489) 55,011 Mining margin 10,187 24,441 Mining margin percentage 42% 71% The following table shows a reconciliation of Adjusted EBITDA to net (loss) / income, the most directly comparable IFRS measure, for the six month periods ended 30 June 2023 and 30 June 2022. Period ended Period ended 30 June 2023 30 June 2022 (unaudited) (unaudited) $\'000 $\'000 Net Loss (16,242) (39,580) Interest expense 6,335 4,511 Income tax credit (2,321) (8,286) Severance and restructuring 1,399 - Foreign Exchange (1,403) (13,319) Depreciation/Amortisation 12,698 15,205 Share based payment 1,889 3,654 Change in fair value of digital currencies (489) 55,011 Equity accounting loss from associate 458 636 Adjusted EBITDA 2,324 17,832 Inside Information and Forward-Looking Statements This announcement contains inside information and includes forward-looking statements which reflect the Company\'s current views, interpretations, beliefs or expectations with respect to the Company\'s financial performance, business strategy and plans and objectives of management for future operations. These statements include forward-looking statements both with respect to the Company and the sector and industry in which the Company operates. Statements which include the words "remains confident", "expects", "intends", "plans", "believes", "projects", "anticipates", "will", "targets", "aims", "may", "would", "could", "continue", "estimate", "future", "opportunity", "potential" or, in each case, their negatives, and similar statements of a future or forward-looking nature identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties because they relate to events that may or may not occur in the future, including the risk that the Company may receive the benefits contemplated by its transactions with Galaxy, the Company may be unable to secure sufficient additional financing to meet its operating needs, and the Company may not generate sufficient working capital to fund its operations for the next twelve months as contemplated. Forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause the Company\'s actual results, prospects and performance to differ materially from those indicated in these statements. In addition, even if the Company\'s actual results, prospects and performance are consistent with the forward-looking statements contained in this document, those results may not be indicative of results in subsequent periods. These forward-looking statements speak only as of the date of this announcement. Subject to any obligations under the Prospectus Regulation Rules, the Market Abuse Regulation, the Listing Rules and the Disclosure and Transparency Rules and except as required by the FCA, the London Stock Exchange, the City Code or applicable law and regulations, the Company undertakes no obligation publicly to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. For a more complete discussion of factors that could cause our actual results to differ from those described in this announcement, please refer to the filings that Company makes from time to time with the United States Securities and Exchange Commission and the United Kingdom Financial Conduct Authority, including the section entitled "Risk Factors" in the Company\'s Annual Report on Form 20-F. For further information please contact: Argo Blockchain Investor Relations [email protected] Tennyson Securities Corporate Broker Peter Krens +44 207 186 9030 Tancredi Intelligent Communication UK & Europe Media Relations Salamander Davoudi Emma Valgimigli Fabio Galloni-Roversi Monaco Nasser Al-Sayed [email protected] About Argo: Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, and offices in the US, Canada, and the UK, Argo\'s global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com . Interim Management Report Argo entered 2023 on the heels of a transformational series of transactions with Galaxy Digital Holdings Ltd. ("Galaxy") that strengthened our balance sheet, improved our liquidity position, and positioned Argo for profitable mining. As part of the transactions, the Helios facility and real property in Dickens County, Texas were sold to Galaxy for $65 million and existing asset-backed loans were refinanced with a new $35 million three-year asset-backed loan with Galaxy. The transactions reduced total indebtedness by $41 million and allowed Argo to simplify its operating structure. Importantly, the Company maintained ownership of its entire fleet of more than 27,000 mining machines. Its roughly 23,600 Bitmain S19J Pro mining machines at Helios are continuing to operate in that facility pursuant to a hosting agreement with Galaxy. During the first quarter of 2023, the Company completed the transition of operations at Helios to the Galaxy team, and Argo has been working closely with them to optimize mining operations and performance. Currently, approximately 2.4 EH/s of total hashrate capacity is deployed at Helios. The hosting agreement with Galaxy provides Argo with pass-through access to the power that Galaxy obtains through its power purchase agreement ("PPA") for Helios, and the Company pays an incremental hosting fee based on actual electricity usage. Argo also has the ability to share in the proceeds whe
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-29
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $506,450,914,581
- Hash Rate: 436863203.68695074
- Transaction Count: 500301.0
- Unique Addresses: 767879.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.39
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: A woman checks an item from the meat department while grocery shopping at a supermarket in Alhambra, California, on July 13, 2022. FREDERIC J. BROWN/AFP via Getty Images US stocks climbed on Thursday as traders digested inflation data for July. The Consumer Price Index showed inflation rose 3.2% last month, slower than economists expected. US stocks jumped on Thursday as July Consumer Price Index data showed inflation rose last month at a slower rate than economists were predicting. Inflation rose 3.2% on an annualized basis in July. That's higher than 3.0% in June but lower than the expected rate of 3.3%. Month-to-month, inflation rose 0.2% from June to July, which was in line with expectations. Although the annualized rate of inflation came in hotter than June's figures, market watchers still think that prices are cooling enough to bolster the argument that the Federal Reserve is done raising interest rates. Fed fund futures are pricing in 90% odds that the central bank holds its target rate steady at 5.25%-5.50% at next month's meeting of the Federal Open Market Committee, and that rate cuts could be coming as early as the first quarter of next year. "The case is building for the Fed to keep policy rates unchanged in September. Both headline and core inflation are waning and the internals of the CPI print suggest that further deceleration pressures should build over the coming months," Seema Shah, chief global strategist at Principal Asset Management, said. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday: S&P 500 : 4,499.51, up 0.71% Dow Jones Industrial Average : 35,409.52, up 0.82% (292 points) Nasdaq Composite : 13,847, up 0.81% Here's what else is going on today: China is heading for another real estate crisis — but on a scale it's never seen before. Bearish hedge fund boss Boaz Weinstein is feeling the pain from this year's surprise stock rally. Tesla sales in China have slipped , but the country's sagging economy may not be to blame. The rally in stocks is under pressure and corporate profits could be about to sink, JPMorgan says. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil dropped 0.88% to $83.66 a barrel. Brent , the international benchmark, fell 0.63% to $87.14 a barrel. Gold edged up 0.5% to $1,959.10 per ounce. The yield on the 10-year Treasury bond slipped about one basis point to 3.99%. Bitcoin fell 0.05% to $29,550. Read the original article on Business Insider...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["The Tornado Cash indictments are being viewed by many as another tipping point for crypto. In that view, how the case plays out could define how the federal government can deal with decentralized trading platforms if they’re seen as broad precedents. But the case may be much more straightforward than initial reactions suggested.\nYou’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government.Click hereto sign up for future editions.\nRoman Storm, one of the three co-founders and developers behind the Tornado Cash mixer, was arrested last week. A second, Roman Semenov, has also been indicted. A third, Alexey Pertsev, faces trial in The Netherlands, where he was arrested last year.\nAre law enforcement officials and federal governments going after Tornado Cash in an effort to tamp down on all efforts to make crypto transactions private? Or is the case a much more straightforward one about running a website that allowed North Korea to launder hundreds of millions of dollars’ worth of crypto?\nSo by now you’ve seen that the U.S. Department of Justicebrought charges against Roman Storm and Roman Semenov, two of the co-founders of Tornado Cash. One – Storm – was arrested last week, is now out on bail and will appear before a judge in the U.S. District Court for the Southern District of New York next week.\nThe indictments and arrest drew alarm from the crypto ecosystem, with concerned individuals decrying what they saw as efforts to regulate the very development and deployment of software intended to guarantee privacy in transactions.\nFirst: A disclaimer that we don’t yet have all the facts in the case. The DOJ hasn’t presented much beyond an indictment with allegations, and some of the allegations need important details to contextualize the arguments, as we’ll get into.\nAs far as the allegations themselves go, there are some facts that aren’t really great for the industry: the DOJ alleged that Storm and Semenov created a program and user interface that allowed for malicious actors to launder up to $1 billion in crypto – including North Korea’s Lazarus Group, which allegedly moved “hundreds of millions” through the mixer (leading to last year’s sanctions).\n“These are individuals who were allegedly helping North Korea with economic transactions, allegedly in aid of a nuclear weapons program. Those are really, really serious allegations,” said Anand Sithian, a former financial crimes prosecutor now with Crowell & Moring.\nBut even if the actions alleged by the government are true and Tornado Cash was used to launder money to North Korea making crypto live down to its reputation as being a tool for the dregs of humanity, the charges against the three accused are very specific and this case may not be an indictment of the industry as a whole or a power grab over privacy tools.\nThe charges themselves – conspiracy to operate an unlicensed money services business, conspiracy to commit money laundering and conspiracy to violate the International Emergency Economic Powers Act (in other words, violate sanctions) are all based on agreements between the indicted parties.\n“Certainly, the government will want to prove the substantive charge, that he actually did these things, but did these two individuals come to a meeting of the minds as to the conduct that is alleged to violate these federal statutes? That is what the government is going to have to prove,” he said.\nIt may also be difficult to distinguish between the time period where the developers had control over Tornado Cash from when they didn’t, he noted. Tornado Cash’s developers famously burned their keys, arguing they no longer had the ability to unilaterally change the smart contract code.\n“It's really hard to decipher if the government actually believes that they gave up control,” he said. But, this issue may only apply to the money services business charge.\nMoreover, the DOJ seems to be specifically arguing that it was the user interface at issue, rather than the smart contract itself, said Craig Timm, a senior director of anti-money laundering at the Association of Certified Anti-Money Laundering Specialists (ACAMS).\n“You've got to think about it sort of separate in your mind, the Tornado Cash smart contract from the user interface in the website, because I think that's exactly what the Department of Justice is doing,” he said.\nIt seems unlikely the charges would be brought if there was no user interface, he added.\nTornado Cash’s native TORN token is another complicating factor, Sithian said. According to the indictment, the defendants used the token to profit off of the operation of Tornado Cash as a service. The filing cites messages they sent to each other, where they allegedly discussed the need to pump TORN’s price.\nThey converted their TORN token holdings into stablecoins, with Storm advising Semenov and Pertsev to create new wallets and further move the funds around, the indictment said. This allegation that the accused were using Tornado Cash to pad their own accounts is another serious blow against the accused and would again seem to argue that the indictment is more narrowly tailored than an attempt to rein in the industry.\nThe idea that “they were in the business of making money off really bad actors [is] a compelling argument for a jury,” he said. It can help prosecutors provide a reason for why Storm and Semenov were working on Tornado Cash, as opposed to the more altruistic argument that they just wanted to defend privacy.\nTimm echoed this view, saying that prosecutors don’t need to prove a motive but prosecutors would typically share one anyway for the jury.\n“What [the DOJ has] done here is lay out a bunch of evidence to try to paint the picture that these guys weren't just in it for software or development, they just weren't good Samaritans here,” he said. “They were in this for money, and in fact, they were deceptive with their community about the money they were making [and] how they were profiting.”\nCoin Center, an industry group, took a competing view, saying the indictment’s allegations suggest that Storm and Semenov remained within parameters defined by the Financial Crimes Enforcement Network (FinCEN).\n“The allegations include that the defendants: (a) paid for web hosting services for a user interface that allowed users to send transaction messages to the underlying smart contracts, (b) paid for a software repository (Github) where smart contract and user interface software and documentation was hosted, and (c) had (for a time before May 2020) “complete control” over the Tornado Cash smart contracts,” research director Peter Van Valkenburghsaid in a blog post.\nFinCEN’s guidance went on to say that the publisher of anonymizing software would not be treated like a money transmitter. Storm and Semonov, if they were only the publishers of the Tornado Cash software, shouldn’t be treated like the operators, Van Valkenburgh wrote.\nSome parts of the case may hinge around the question of whether the defendants controlled Tornado Cash as a service.\nTimm said the DOJ is trying to argue that Tornado Cash wasn’t decentralized, that it was a centralized entity running a website and trying to profit off of the service being provided.\n“The allegations aren't aimed at the smart contract. They're aimed at the user interface where they could have done any number of things that could have shut it down, they could have put controls in it, they could have done any of these things once they knew criminal money is here, but they didn't,” he said. “And they knew that their system was then designed to conceal it and make it easier for the criminals to move that money.”\nVan Valkenburgh wrote that to Coin Center’s knowledge, the defendants never had the ability to directly access user funds, which would again suggest they weren’t violating FinCEN guidance for money transmitters.\nThe details about exchanges that were hacked reaching out to the developers for assistance and being turned away may play in here.\nOf course, what we don’t know is whether the developers said they couldn’t help the hacked exchanges or if they wouldn’t help the hacked exchanges. If they said they couldn’t because they didn’t have control over the smart contract or any aspect of the user interface that would have allowed them to help, that’s one story. If they said they wouldn’t help, but could have, that’s an entirely different one. The indictment only says the defendants responded to at least two emails from exchanges “declining to offer any assistance.”\nBrian Klein, Storm’s attorney, said there was “a lot more to this story” in a statement last week.\n“We are incredibly disappointed that the prosecutors chose to charge Mr. Storm because he helped develop software, and they did so based on a novel legal theory with dangerous implications for all software developers,” he said. So while it’s possible that Klein is right and that when all the details are known, this case may prove a dangerous precedent for the crypto industry, from the facts that are known at present, it looks more targeted at Tornado Cash and the actors behind it rather than something that could have a chilling effect on the ecosystem.\n• SEC Must Review Grayscale's Bitcoin ETF Bid After Previous Rejection, Appeals Court Rules:The SEC has to look over Grayscale’s bitcoin ETF application again after an appeals court said the proposed product did not seem particularly different from already-approved bitcoin futures ETFs. The ruling was unanimous, which isn’t a huge surprise givenall three judges who heard the caseseemed skeptical of the SEC’s arguments during a March hearing.\n• DCG Reaches Crucial In-Principle Deal With Genesis Creditors, Recoveries Could Be Up to 90%:Genesis – a subsidiary of CoinDesk parent Digital Currency Group – has reached an “in-principle” agreement with unsecured creditors to resolve its bankruptcy.\n• Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says:Prime Trust invested in TerraUSD, interim CEO Jor Law – who took over after said investment – said in a bankruptcy filing for the crypto custodian.\nThe U.S. Treasury Department and Internal Revenue Servicepublished their proposed regulationfor the long-awaited “broker” definition from the 2021 Infrastructure Investment and Jobs Act, otherwise known as thebipartisan infrastructure bill, otherwise known as that thing thatoccupied my every waking momentfor like a month and had an immediate impact on job growth*.\n*(At CoinDesk, which created the regulation team after that episode.)\nThe proposal itselfwalks through a definition for the term “broker,” capturing centralized crypto exchanges, payment processors, some hosted wallet providers, some unhosted wallet providers, some decentralized exchanges, etc. The industrywasn’t immediately impressed, complaining that decentralized exchanges would have to either begin collecting know-your-customer information or otherwise shutting down.\nTreasury has kicked off a comment period that ends on Oct. 30, 2023, allowing the general public to weigh in and provide feedback – especially to some of the more controversial issues, such as the decentralized exchange component.\nWednesday\n• 17:00 UTC (1:00 p.m. ET) The federal court overseeing Sam Bankman-Fried’s pending trial will hold a hearing on the defense team’s motions to have him made more available to work on his defense, limit discovery and use an advice-of-counsel defense. Read all of ourcoverage here, including thedefense teamandprosecution'sarguments. You can listen inhere.\n• (The New Yorker)Ronan Farrow digs into Elon Musk’s history and his place in it. This is a compelling, in-depth read.\n• (The Wall Street Journal)Binance had “substantial ruble trading volumes,” the Journal reported, which clients could use to tap funds at sanctioned banks in Russia. A spokesperson for the exchange later said it would consider “a full exit” from the country.\n• (Vulture)On a lighter note, Kennedy Steve – who’s quietly a celebrity in the Air Traffic Control section of YouTube – weighed in on all the recent apparent near misses at airports. His closing advice: “It’s a big sky, and the planes are really small.”\n• (The New York Times)That being said, there's been a lot of these near misses.\nIf you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me [email protected] find me on Twitter@nikhileshde.\nYou can also join the group conversation onTelegram.\nSee ya’ll next week!", "The Tornado Cash indictments are being viewed by many as another tipping point for crypto. In that view, how the case plays out could define how the federal government can deal with decentralized trading platforms if they’re seen as broad precedents. But the case may be much more straightforward than initial reactions suggested. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Tornado Crash The narrative Roman Storm, one of the three co-founders and developers behind the Tornado Cash mixer, was arrested last week. A second, Roman Semenov, has also been indicted. A third, Alexey Pertsev, faces trial in The Netherlands, where he was arrested last year. Why it matters Are law enforcement officials and federal governments going after Tornado Cash in an effort to tamp down on all efforts to make crypto transactions private? Or is the case a much more straightforward one about running a website that allowed North Korea to launder hundreds of millions of dollars’ worth of crypto? Breaking it down So by now you’ve seen that the U.S. Department of Justice brought charges against Roman Storm and Roman Semenov , two of the co-founders of Tornado Cash. One – Storm – was arrested last week, is now out on bail and will appear before a judge in the U.S. District Court for the Southern District of New York next week. The indictments and arrest drew alarm from the crypto ecosystem, with concerned individuals decrying what they saw as efforts to regulate the very development and deployment of software intended to guarantee privacy in transactions. First: A disclaimer that we don’t yet have all the facts in the case. The DOJ hasn’t presented much beyond an indictment with allegations, and some of the allegations need important details to contextualize the arguments, as we’ll get into. As far as the allegations themselves go, there are some facts that aren’t really great for the industry: the DOJ alleged that Storm and Semenov created a program and user interface that allowed for malicious actors to launder up to $1 billion in crypto – including North Korea’s Lazarus Group, which allegedly moved “hundreds of millions” through the mixer (leading to last year’s sanctions). Story continues “These are individuals who were allegedly helping North Korea with economic transactions, allegedly in aid of a nuclear weapons program. Those are really, really serious allegations,” said Anand Sithian, a former financial crimes prosecutor now with Crowell & Moring. But even if the actions alleged by the government are true and Tornado Cash was used to launder money to North Korea making crypto live down to its reputation as being a tool for the dregs of humanity, the charges against the three accused are very specific and this case may not be an indictment of the industry as a whole or a power grab over privacy tools. The charges themselves – conspiracy to operate an unlicensed money services business, conspiracy to commit money laundering and conspiracy to violate the International Emergency Economic Powers Act (in other words, violate sanctions) are all based on agreements between the indicted parties. “Certainly, the government will want to prove the substantive charge, that he actually did these things, but did these two individuals come to a meeting of the minds as to the conduct that is alleged to violate these federal statutes? That is what the government is going to have to prove,” he said. It may also be difficult to distinguish between the time period where the developers had control over Tornado Cash from when they didn’t, he noted. Tornado Cash’s developers famously burned their keys, arguing they no longer had the ability to unilaterally change the smart contract code. “It's really hard to decipher if the government actually believes that they gave up control,” he said. But, this issue may only apply to the money services business charge. Moreover, the DOJ seems to be specifically arguing that it was the user interface at issue, rather than the smart contract itself, said Craig Timm, a senior director of anti-money laundering at the Association of Certified Anti-Money Laundering Specialists (ACAMS). “You've got to think about it sort of separate in your mind, the Tornado Cash smart contract from the user interface in the website, because I think that's exactly what the Department of Justice is doing,” he said. It seems unlikely the charges would be brought if there was no user interface, he added. Tornado Cash’s native TORN token is another complicating factor, Sithian said. According to the indictment, the defendants used the token to profit off of the operation of Tornado Cash as a service. The filing cites messages they sent to each other, where they allegedly discussed the need to pump TORN’s price. They converted their TORN token holdings into stablecoins, with Storm advising Semenov and Pertsev to create new wallets and further move the funds around, the indictment said. This allegation that the accused were using Tornado Cash to pad their own accounts is another serious blow against the accused and would again seem to argue that the indictment is more narrowly tailored than an attempt to rein in the industry. The idea that “they were in the business of making money off really bad actors [is] a compelling argument for a jury,” he said. It can help prosecutors provide a reason for why Storm and Semenov were working on Tornado Cash, as opposed to the more altruistic argument that they just wanted to defend privacy. Timm echoed this view, saying that prosecutors don’t need to prove a motive but prosecutors would typically share one anyway for the jury. “What [the DOJ has] done here is lay out a bunch of evidence to try to paint the picture that these guys weren't just in it for software or development, they just weren't good Samaritans here,” he said. “They were in this for money, and in fact, they were deceptive with their community about the money they were making [and] how they were profiting.” Coin Center, an industry group, took a competing view, saying the indictment’s allegations suggest that Storm and Semenov remained within parameters defined by the Financial Crimes Enforcement Network (FinCEN). “The allegations include that the defendants: (a) paid for web hosting services for a user interface that allowed users to send transaction messages to the underlying smart contracts, (b) paid for a software repository (Github) where smart contract and user interface software and documentation was hosted, and (c) had (for a time before May 2020) “complete control” over the Tornado Cash smart contracts,” research director Peter Van Valkenburgh said in a blog post . FinCEN’s guidance went on to say that the publisher of anonymizing software would not be treated like a money transmitter. Storm and Semonov, if they were only the publishers of the Tornado Cash software, shouldn’t be treated like the operators, Van Valkenburgh wrote. Some parts of the case may hinge around the question of whether the defendants controlled Tornado Cash as a service. Timm said the DOJ is trying to argue that Tornado Cash wasn’t decentralized, that it was a centralized entity running a website and trying to profit off of the service being provided. “The allegations aren't aimed at the smart contract. They're aimed at the user interface where they could have done any number of things that could have shut it down, they could have put controls in it, they could have done any of these things once they knew criminal money is here, but they didn't,” he said. “And they knew that their system was then designed to conceal it and make it easier for the criminals to move that money.” Van Valkenburgh wrote that to Coin Center’s knowledge, the defendants never had the ability to directly access user funds, which would again suggest they weren’t violating FinCEN guidance for money transmitters. The details about exchanges that were hacked reaching out to the developers for assistance and being turned away may play in here. Of course, what we don’t know is whether the developers said they couldn’t help the hacked exchanges or if they wouldn’t help the hacked exchanges. If they said they couldn’t because they didn’t have control over the smart contract or any aspect of the user interface that would have allowed them to help, that’s one story. If they said they wouldn’t help, but could have, that’s an entirely different one. The indictment only says the defendants responded to at least two emails from exchanges “declining to offer any assistance.” Brian Klein, Storm’s attorney, said there was “a lot more to this story” in a statement last week. “We are incredibly disappointed that the prosecutors chose to charge Mr. Storm because he helped develop software, and they did so based on a novel legal theory with dangerous implications for all software developers,” he said. So while it’s possible that Klein is right and that when all the details are known, this case may prove a dangerous precedent for the crypto industry, from the facts that are known at present, it looks more targeted at Tornado Cash and the actors behind it rather than something that could have a chilling effect on the ecosystem. Stories you may have missed SEC Must Review Grayscale's Bitcoin ETF Bid After Previous Rejection, Appeals Court Rules : The SEC has to look over Grayscale’s bitcoin ETF application again after an appeals court said the proposed product did not seem particularly different from already-approved bitcoin futures ETFs. The ruling was unanimous, which isn’t a huge surprise given all three judges who heard the case seemed skeptical of the SEC’s arguments during a March hearing. DCG Reaches Crucial In-Principle Deal With Genesis Creditors, Recoveries Could Be Up to 90% : Genesis – a subsidiary of CoinDesk parent Digital Currency Group – has reached an “in-principle” agreement with unsecured creditors to resolve its bankruptcy. Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says : Prime Trust invested in TerraUSD, interim CEO Jor Law – who took over after said investment – said in a bankruptcy filing for the crypto custodian. The taxman cometh The U.S. Treasury Department and Internal Revenue Service published their proposed regulation for the long-awaited “broker” definition from the 2021 Infrastructure Investment and Jobs Act, otherwise known as the bipartisan infrastructure bill , otherwise known as that thing that occupied my every waking moment for like a month and had an immediate impact on job growth*. *(At CoinDesk, which created the regulation team after that episode.) The proposal itself walks through a definition for the term “broker,” capturing centralized crypto exchanges, payment processors, some hosted wallet providers, some unhosted wallet providers, some decentralized exchanges, etc. The industry wasn’t immediately impressed , complaining that decentralized exchanges would have to either begin collecting know-your-customer information or otherwise shutting down. Treasury has kicked off a comment period that ends on Oct. 30, 2023, allowing the general public to weigh in and provide feedback – especially to some of the more controversial issues, such as the decentralized exchange component. This week Wednesday 17:00 UTC (1:00 p.m. ET) The federal court overseeing Sam Bankman-Fried’s pending trial will hold a hearing on the defense team’s motions to have him made more available to work on his defense, limit discovery and use an advice-of-counsel defense. Read all of our coverage here , including the defense team and prosecution's arguments. You can listen in here . Elsewhere: ( The New Yorker ) Ronan Farrow digs into Elon Musk’s history and his place in it. This is a compelling, in-depth read. ( The Wall Street Journal ) Binance had “substantial ruble trading volumes,” the Journal reported, which clients could use to tap funds at sanctioned banks in Russia. A spokesperson for the exchange later said it would consider “ a full exit ” from the country. ( Vulture ) On a lighter note, Kennedy Steve – who’s quietly a celebrity in the Air Traffic Control section of YouTube – weighed in on all the recent apparent near misses at airports. His closing advice: “It’s a big sky, and the planes are really small.” ( The New York Times ) That being said, there's been a lot of these near misses. If you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me at [email protected] or find me on Twitter @nikhileshde . You can also join the group conversation on Telegram . See ya’ll next week!", 'It was a morning of gains in Asia. That followed Tuesday’s favorable U.S. court ruling for Grayscale Investments in its Bitcoin ETF case against the U.S. Securities and Exchange Commission (SEC). Bitcoin, Ether and all other top 10 non-stablecoin cryptocurrencies rose, while Toncoin recorded double-digit growth. The Forkast 500 NFT Index fell as traders processed the latest SEC charges brought against the crypto industry for securities violations — this time against an NFT project operated by media company Impact Theory. U.S. equity futures traded flat after Tuesday’s gains. Investors now await the release of key economic data later in the week.\nBitcoin gained 6.09% for the last 24 hours to US$27,625.04 as of 06:45 a.m. in Hong Kong. The token is up 7.02% for the week, according to CoinMarketCapdata. The world’s leading cryptocurrency had been trading under the US$27,000 mark since Aug. 18 as downbeat macroeconomicdevelopmentsin the U.S. and China took a toll on the wider crypto market.\nEther also posted gains. It rose 4.92% to US$1,731.09 for a 6.87% weekly gain.\nAll other top 10 non-stablecoin cryptocurrencies were in green as the market reacted to news of avictoryfor Grayscale Investments in its ongoing legal dispute with the U.S. Securities and Exchange Commission.\nOn Tuesday, the District of Columbia Court of Appeals overturned the SEC’s earlier refusal to allow the company’s Grayscale Bitcoin Trust, known by its ticker GBTC, to become an exchange-traded fund (ETF).\n“Despite the inevitable SEC appeal, to our mind there is no doubt now, spot BTC ETFs are coming to the U.S.,” said Tim Bevan, chief executive officer at crypto investment firm ETC Group, in an emailed statement. Bevan predicted that a bulk approval of applications from other major financial institutions — including BlackRock, Fidelity and WisdomTree — is now in the cards for the first quarter of fiscal 2024.\nGrayscale first sued the SEC in June, 2022. The Stamford-based digital asset manager said that the regulator failed to provide clear explanations for the rejection of its ETF application, violating the Administrative Procedure Act. The company added that the SEC’s refusal was inconsistent with its approach to other Bitcoin futures ETF applications.\n“The level of pent up institutional and retail demand in the U.S. is significant and we expect this to have a positive impact on the price of Bitcoin as can be seen from today’s price reaction,” wrote Bevans. The positive impact will be felt beyond price, he added.\n“The broader signal this sends to the market is one of legitimacy, which is hugely relevant in terms of institutional adoption and other global jurisdictions following suit,” Bevans said.\nAmong the top 10, Toncoin, the native token of proof-of-stake blockchain TON, led the leaders. It surged 14.24% in the last 24 hours to $1.72 and a weekly gain of 27.20%.\nThe Telegram messaging application introduced the TON blockchain in 2018. Telegram then severed ties with the project in 2020 due to increasing regulatory pressure fromthe SEC. The blockchainsaidit has seen a 102% increase in developer involvement within the last year. Telegram also launched its Wallet Pay service, which allows users to pay merchants directly on the app using crypto, in July. The service supports Bitcoin, Tether stablecoin and Toncoin payments.\nThe total crypto market capitalization rose 4.73% to US$1.1 trillion, while trading volume surged 116.20% to US$52.34 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nThe main Forkast 500 NFT index fell 1.96% over the past 24 hours to 2,191.84 as of 9:30 a.m. in Hong Kong, down 4.64% for the week. Forkast’s Ethereum and Polygon indexes moved down, while the Solana and Cardano index rose.\nThe SECannouncedMonday it has charged Los Angeles-based media company Impact Theory with offering and selling its “Founder’s Keys” NFTs as unregistered securities. It is the first time the regulator has brought charges against an NFT project.\nTwo SEC commissioners, Hester Peirce and Mark Uyeda,publishedan open letter disagreeing with the decision. They said that Impact Theory’s NFTs did not meet the Howey test to qualify as an investment contract.\nThe Howey test has been applied in numerous cases to determine whether various financial arrangements and offerings constitute financial securities. It raises four elements of an investment contract — 1) an investment of money in 2) a common enterprise with 3) expectations of profits derived from 4) the effort of others.\n“Even if the NFT sales here fit squarely within Howey, is this set of facts one that warrants an enforcement action?” the statement said.\n“The handful of company and purchaser statements cited by the order are not the kinds of promises that form an investment contract. We do not routinely bring enforcement actions against people that sell watches, paintings, or collectibles along with vague promises to build the brand and thus increase the resale value of those tangible items,” the statement continued.\nImpact Theory co-founder Tom BilyeutweetedTuesday to confirm that the company has settled with the SEC by agreeing to pay aUS$6 millionpenalty.\nForkast Labs’s NFT strategist Yehudah Petscher said that the SEC will now likely sue other NFT projects for securities violations. This will lead to further pain for investors as the market bottoms out, he added.\n“Traders are about to get wrecked,” Petscher said.\nMeanwhile, the total NFT trading volume rose 8.95% in the past 24 hours to US$10.95 million. Volume on the Ethereum, Solana and ImmutableX chains gained, while Mythos and Polygon logged losses, according todatafrom CryptoSlam.\nU.S. stock futures moved up as of 12:10 p.m. in Hong Kong. That followed significant gains for all three major indexes Tuesday, with the Nasdaq adding 2.15% by the close of regular trading.\nThe main Asia stock indexes in China, Hong Kong, Japan and South Korea all rose for the third consecutive session. Japan’s Nikkei led the gains with a 0.84% rise.\nThe U.S. saw the Labor Statistics Bureau’s Job Openings and Labor Turnover Survey (JOLTS) for July fall to 8.82 million. The figure, the lowest monthly level in 2.5 years, shows a gradual slowing of the labor market.\n“With reports like this, the Fed can most likely keep rates unchanged in September,” Jeffrey Roach, chief economist at North Carolina-based LPL Financial,toldReuters.\nThe Fed last raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. TheCME FedWatchTool predicts a 13.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, down 8% from 21.5% on Tuesday.\nInvestors now await Q2 gross domestic product figures later on Wednesday, the personal consumption expenditure (PCE) price index on Thursday and the monthly jobs report on Friday.\nThe potential pause in U.S. interest rate hikes has encouraged investor sentiment in Asia, already buoyed by Chinese government attempts to revive the local capital market. Earlier this week,reportsemerged that Beijing has cut the stamp duty on stock trading by half and limited initial public offerings.\nAnalyststoldReuters that the IPO decision in particular may not work out as planned.\n“Slowing the pace of IPOs will have little impact on the equity markets but will further dampen access to capital for the private sector at a time when the economy sorely needs a boost,” Orient Capital Research Managing Director Andrew Collier said.\n(Updates to add equities section)', "It was a morning of gains in Asia. That followed Tuesday’s favorable U.S. court ruling for Grayscale Investments in its Bitcoin ETF case against the U.S. Securities and Exchange Commission (SEC). Bitcoin, Ether and all other top 10 non-stablecoin cryptocurrencies rose, while Toncoin recorded double-digit growth. The Forkast 500 NFT Index fell as traders processed the latest SEC charges brought against the crypto industry for securities violations — this time against an NFT project operated by media company Impact Theory. U.S. equity futures traded flat after Tuesday’s gains. Investors now await the release of key economic data later in the week. Grayscale bounce Bitcoin gained 6.09% for the last 24 hours to US$27,625.04 as of 06:45 a.m. in Hong Kong. The token is up 7.02% for the week, according to CoinMarketCap data . The world’s leading cryptocurrency had been trading under the US$27,000 mark since Aug. 18 as downbeat macroeconomic developments in the U.S. and China took a toll on the wider crypto market. Ether also posted gains. It rose 4.92% to US$1,731.09 for a 6.87% weekly gain. All other top 10 non-stablecoin cryptocurrencies were in green as the market reacted to news of a victory for Grayscale Investments in its ongoing legal dispute with the U.S. Securities and Exchange Commission. On Tuesday, the District of Columbia Court of Appeals overturned the SEC’s earlier refusal to allow the company’s Grayscale Bitcoin Trust, known by its ticker GBTC, to become an exchange-traded fund (ETF). “Despite the inevitable SEC appeal, to our mind there is no doubt now, spot BTC ETFs are coming to the U.S.,” said Tim Bevan, chief executive officer at crypto investment firm ETC Group, in an emailed statement. Bevan predicted that a bulk approval of applications from other major financial institutions — including BlackRock, Fidelity and WisdomTree — is now in the cards for the first quarter of fiscal 2024. Grayscale first sued the SEC in June, 2022. The Stamford-based digital asset manager said that the regulator failed to provide clear explanations for the rejection of its ETF application, violating the Administrative Procedure Act. The company added that the SEC’s refusal was inconsistent with its approach to other Bitcoin futures ETF applications. Story continues “The level of pent up institutional and retail demand in the U.S. is significant and we expect this to have a positive impact on the price of Bitcoin as can be seen from today’s price reaction,” wrote Bevans. The positive impact will be felt beyond price, he added. “The broader signal this sends to the market is one of legitimacy, which is hugely relevant in terms of institutional adoption and other global jurisdictions following suit,” Bevans said. Among the top 10, Toncoin, the native token of proof-of-stake blockchain TON, led the leaders. It surged 14.24% in the last 24 hours to $1.72 and a weekly gain of 27.20%. The Telegram messaging application introduced the TON blockchain in 2018. Telegram then severed ties with the project in 2020 due to increasing regulatory pressure from the SEC . The blockchain said it has seen a 102% increase in developer involvement within the last year. Telegram also launched its Wallet Pay service, which allows users to pay merchants directly on the app using crypto, in July. The service supports Bitcoin, Tether stablecoin and Toncoin payments. The total crypto market capitalization rose 4.73% to US$1.1 trillion, while trading volume surged 116.20% to US$52.34 billion. NFTs suffering from SEC securities label The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index fell 1.96% over the past 24 hours to 2,191.84 as of 9:30 a.m. in Hong Kong, down 4.64% for the week. Forkast’s Ethereum and Polygon indexes moved down, while the Solana and Cardano index rose. The SEC announced Monday it has charged Los Angeles-based media company Impact Theory with offering and selling its “Founder’s Keys” NFTs as unregistered securities. It is the first time the regulator has brought charges against an NFT project. Two SEC commissioners, Hester Peirce and Mark Uyeda, published an open letter disagreeing with the decision. They said that Impact Theory’s NFTs did not meet the Howey test to qualify as an investment contract. The SEC filed and settled its first NFT enforcement action today: https://t.co/RwaMGueBZK Here's Commissioner Uyeda's and my dissent: https://t.co/WhLKX3Tl8X — Hester Peirce (@HesterPeirce) August 28, 2023 The Howey test has been applied in numerous cases to determine whether various financial arrangements and offerings constitute financial securities. It raises four elements of an investment contract — 1) an investment of money in 2) a common enterprise with 3) expectations of profits derived from 4) the effort of others. “Even if the NFT sales here fit squarely within Howey, is this set of facts one that warrants an enforcement action?” the statement said. “The handful of company and purchaser statements cited by the order are not the kinds of promises that form an investment contract. We do not routinely bring enforcement actions against people that sell watches, paintings, or collectibles along with vague promises to build the brand and thus increase the resale value of those tangible items,” the statement continued. Impact Theory co-founder Tom Bilyeu tweeted Tuesday to confirm that the company has settled with the SEC by agreeing to pay a US$6 million penalty. Forkast Labs’s NFT strategist Yehudah Petscher said that the SEC will now likely sue other NFT projects for securities violations. This will lead to further pain for investors as the market bottoms out, he added. “Traders are about to get wrecked,” Petscher said. Meanwhile, the total NFT trading volume rose 8.95% in the past 24 hours to US$10.95 million. Volume on the Ethereum, Solana and ImmutableX chains gained, while Mythos and Polygon logged losses, according to data from CryptoSlam. Weak US jobs data has traders hopeful for a pause Image: Envato Elements U.S. stock futures moved up as of 12:10 p.m. in Hong Kong. That followed significant gains for all three major indexes Tuesday, with the Nasdaq adding 2.15% by the close of regular trading. The main Asia stock indexes in China, Hong Kong, Japan and South Korea all rose for the third consecutive session. Japan’s Nikkei led the gains with a 0.84% rise. The U.S. saw the Labor Statistics Bureau’s Job Openings and Labor Turnover Survey (JOLTS) for July fall to 8.82 million. The figure, the lowest monthly level in 2.5 years, shows a gradual slowing of the labor market. “With reports like this, the Fed can most likely keep rates unchanged in September,” Jeffrey Roach, chief economist at North Carolina-based LPL Financial, told Reuters. The Fed last raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. The CME FedWatch Tool predicts a 13.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, down 8% from 21.5% on Tuesday. Investors now await Q2 gross domestic product figures later on Wednesday, the personal consumption expenditure (PCE) price index on Thursday and the monthly jobs report on Friday. The potential pause in U.S. interest rate hikes has encouraged investor sentiment in Asia, already buoyed by Chinese government attempts to revive the local capital market. Earlier this week, reports emerged that Beijing has cut the stamp duty on stock trading by half and limited initial public offerings. Analysts told Reuters that the IPO decision in particular may not work out as planned. “Slowing the pace of IPOs will have little impact on the equity markets but will further dampen access to capital for the private sector at a time when the economy sorely needs a boost,” Orient Capital Research Managing Director Andrew Collier said. (Updates to add equities section)", 'Global privacy is at stake. Worldcoin’s blockchain technology allows for the tracking and recording of every transaction made using the currency, creating a transparent ledger accessible to authorized parties, which could be exploited for mass surveillance. While transparency can be beneficial in combating fraud and money laundering, it also poses serious threats to personal privacy.\nEarlier this month,Kenya suspended Worldcoin’s activitiesin the country “until relevant public agencies certify the absence of any risk to the general public whatsoever.” They recently launched a committee tasked with investigating the project. The committee has 42 days toexamineWorldcoin and present its findings to the house.\nIt was only in July that OpenAI CEO Sam Altman unveiled Worldcoin, which requires users to verify their human identity by using a hardware device, known as the “Orb,” that enables iris scanning. The Orbs are accessible in 400 locations around the world. More than2.2 million peoplehave already completed the registration process, according to Worldcoin’s website. Worldcoin claims that World IDs allow individuals to establish their humanity in an age of artificial intelligence. Participants who scan their iris receive 25 WLD tokens, the project’s native cryptocurrency.\nWith every transaction linked to a unique identifier, including a retina scan, individual spending habits could become easily traceable. This level of surveillance opens doors for governments or corporations to monitor and control financial activities on an unprecedented scale. Biometric data tied to financial transactions poses potential risks if it falls into the wrong hands or is used for discriminatory purposes.\nCentralization in the Worldcoin model also poses a significant threat by undermining personal privacy and placing immense power in the hands of a few entities or governments. If Worldcoin fulfills its aspirations and becomes a global currency, every transaction will likely be easily tracked and monitored by those in control.\nVia Worldcoin, governments and corporations can gain unprecedented access to individuals’ financial activities and spending habits. Personal privacy would be compromised as individuals lose their ability to conduct transactions anonymously. Worldcoin’s centralization also raises concerns about data security. If a central authority holds all financial information on Worldcoin users, the risk of data breaches and hacks increases significantly. The potential for unauthorized access or misuse of personal data becomes a pressing issue in such an era.\nProponents of the Worldcoin model argue that this transparency would help combat illicit activities such as money laundering and terrorist financing. Critics, on the other hand, fear that it creates an unprecedented level of surveillance. Governments and corporations could potentially exploit this vast amount of data to monitor and control individual spending habits, leading to privacy infringements and social control. The potential for data breaches or misuse by malicious actors, moreover, introduces additional risks.\nAs a centralized digital currency, Worldcoin requires users to provide personal information during registration, including their real identities and banking details. This wealth of data becomes vulnerable to exploitation by both malicious actors and governments seeking surveillance opportunities.\nThe vast amount of personal information collected by Worldcoin is creating a treasure trove for data mining activities. Companies and organizations can leverage this data to gain insights into individuals’ spending habits, preferences and even political affiliations.\nSuch comprehensive profiling enables targeted advertising, manipulation of consumer behavior, and potentially discriminatory practices. In addition, the centralized nature of Worldcoin allows governments or authoritarian regimes with access to this information to monitor citizens’ financial activities closely.\nWorldcoin’s promises and capabilities are the opposite of crypto’s original ethos. When Bitcoin first burst onto the scene in 2009, it promised independence from a financial system that thrived on dependence. Bitcoin allowed us to break away from the chains of centralized finance at a time when government bureaucrats were awarding big banks trillion-dollar bailouts. Worldcoin now wants to re-establish our chains to centralized finance for a paltry sum and the promise of convenience.\nWorldcoin is crypto in name only. It represents a turning point for the entire crypto industry. Will we continue our path towards independence or will be beguiled and herded into a detour towards more dependence than ever before?', 'Global privacy is at stake. Worldcoin’s blockchain technology allows for the tracking and recording of every transaction made using the currency, creating a transparent ledger accessible to authorized parties, which could be exploited for mass surveillance. While transparency can be beneficial in combating fraud and money laundering, it also poses serious threats to personal privacy. Earlier this month, Kenya suspended Worldcoin’s activities in the country “until relevant public agencies certify the absence of any risk to the general public whatsoever.” They recently launched a committee tasked with investigating the project. The committee has 42 days to examine Worldcoin and present its findings to the house. It was only in July that OpenAI CEO Sam Altman unveiled Worldcoin, which requires users to verify their human identity by using a hardware device, known as the “Orb,” that enables iris scanning. The Orbs are accessible in 400 locations around the world. More than 2.2 million people have already completed the registration process, according to Worldcoin’s website. Worldcoin claims that World IDs allow individuals to establish their humanity in an age of artificial intelligence. Participants who scan their iris receive 25 WLD tokens, the project’s native cryptocurrency. With every transaction linked to a unique identifier, including a retina scan, individual spending habits could become easily traceable. This level of surveillance opens doors for governments or corporations to monitor and control financial activities on an unprecedented scale. Biometric data tied to financial transactions poses potential risks if it falls into the wrong hands or is used for discriminatory purposes. Centralization in the Worldcoin model also poses a significant threat by undermining personal privacy and placing immense power in the hands of a few entities or governments. If Worldcoin fulfills its aspirations and becomes a global currency, every transaction will likely be easily tracked and monitored by those in control. Story continues Via Worldcoin, governments and corporations can gain unprecedented access to individuals’ financial activities and spending habits. Personal privacy would be compromised as individuals lose their ability to conduct transactions anonymously. Worldcoin’s centralization also raises concerns about data security. If a central authority holds all financial information on Worldcoin users, the risk of data breaches and hacks increases significantly. The potential for unauthorized access or misuse of personal data becomes a pressing issue in such an era. Proponents of the Worldcoin model argue that this transparency would help combat illicit activities such as money laundering and terrorist financing. Critics, on the other hand, fear that it creates an unprecedented level of surveillance. Governments and corporations could potentially exploit this vast amount of data to monitor and control individual spending habits, leading to privacy infringements and social control. The potential for data breaches or misuse by malicious actors, moreover, introduces additional risks. As a centralized digital currency, Worldcoin requires users to provide personal information during registration, including their real identities and banking details. This wealth of data becomes vulnerable to exploitation by both malicious actors and governments seeking surveillance opportunities. The vast amount of personal information collected by Worldcoin is creating a treasure trove for data mining activities. Companies and organizations can leverage this data to gain insights into individuals’ spending habits, preferences and even political affiliations. Such comprehensive profiling enables targeted advertising, manipulation of consumer behavior, and potentially discriminatory practices. In addition, the centralized nature of Worldcoin allows governments or authoritarian regimes with access to this information to monitor citizens’ financial activities closely. Worldcoin’s promises and capabilities are the opposite of crypto’s original ethos. When Bitcoin first burst onto the scene in 2009, it promised independence from a financial system that thrived on dependence
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-30
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $534,704,287,031
- Hash Rate: 348384580.1554164
- Transaction Count: 408001.0
- Unique Addresses: 665354.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.49
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Watch: Could China shut down the Bitcoin network? | The Crypto Mile China-based cryptocurrency miners have the potential to regain dominance over the bitcoin network. Yahoo Finance talked to an expert about the risks this would present for the world's largest digital asset. On this week's episode of The Crypto Mile , Yahoo Finance UK spoke with Jameson Lopp, bitcoin expert and co-founder of digital asset security firm Casa. The conversation centred on the longstanding concerns about the concentration of bitcoin's ( BTC-USD ) mining hash-rate within China. "An authoritarian nation-state, like China, could conduct an attack that would kill the bitcoin network and make it temporarily unusable," Lopp told Yahoo Finance. Read more: Sovereign agents: Your own personal AI assistant? | The Crypto Mile Such an attack would manifest as a "51% attack", where a single entity gains control of over more than half of the bitcoin hashrate, enabling them to control the verification of transactions and the mining of new bitcoins. "An authoritarian style 51% attack on the bitcoin network, from say the Chinese government, could come in the form of not allowing any transactions to happen on the network, or only allowing white-listed transactions to go through," Lopp added. The bitcoin hashrate The hashrate is a measure of the amount of computational power that bitcoin miners are utilising to process transactions and safeguard the network. A higher hashrate signifies more processing chips are being used to mine new bitcoin and verify transactions on the network. China recently dominated the world's share of the bitcoin hashrate. And, according to Jameson Lopp, this dominance is something they could quickly regain. Read more: Institutional investment brings new momentum to crypto "In 2019, about 75% of global hash-rate was coming out of China. But, 2021 saw the Chinese government's biggest crackdown on bitcoin mining. The hashrate was cut in half, and many miners went to friendlier jurisdictions," Lopp said. He added that despite the Chinese government ban, there are still many miners spread across the vast country. According to recent data from Statistica , Chinese miners still control 21% of current bitcoin mining output. The US maintains the largest share, at 35.4%. Could China regain mining dominance? There are still concerns over China's ability to regain its former dominant position. "Nearly all of the silicon chips used in bitcoin mining are produced in China," Lopp said. Re-routing this supply to domestic miners would deny those overseas access to new hardware, giving Chinese miners a competitive advantage. Story continues Read more: Bitcoin rallies to $30,000 after BlackRock's ETF filing These silicon chips are called ASICs, and are tailored for a single, specific task. In the case of bitcoin mining, this is solving the cryptographic puzzles required to mine the digital asset and verify transactions. "While China doesn't have an overwhelming hashrate, if something changes and it becomes a slightly more friendly place again for miners, China could dominate the network," Lopp said. "If regulations ease in China, they have the tools at hand to quickly reach new zeniths in mining," he added. Watch: Institutional investment brings new momentum to the crypto-space | The Crypto Mile Download the Yahoo Finance app, available for Apple and Android . View comments...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["SINGAPORE --News Direct-- BingX SINGAPORE - Media OutReach - 31 August 2023 - BingX, a top cryptocurrency trading platform, continues its mission of providing users with opportunities by announcing the listing of two new tokens on its Spot trading platform: PayPal USD (PYUSD) and Ovato (OVO). These developments mark significant milestones for the cryptocurrency sector, demonstrating its resilience and adaptability as PayPal is the first to launch a stablecoin as a major payment processor. Furthermore, recent legal proceedings challenging the U.S. Securities and Exchange Commission (SEC) are sparking optimism for the eventual approval of a Bitcoin Exchange-Traded Fund (ETF), providing renewed hope for the broader cryptocurrency landscape. PayPal USD (PYUSD): Redefining Digital Transactions BingX introduces PayPal USD trading pair ( PYUSD/USDT ), a stablecoin redesigning digital transactions. PYUSD facilitates seamless buying, selling, and transferring within the platform. Transfers to Ethereum wallets and fee-free transactions on PayPal further enhance its usability. Ovato (OVO): Merging Decentralization with Centralized Principles BingX welcomes Ovato trading pair ( OVO/USDT ), utilizing blockchain for decentralized economics with a nod to centralized business efficiency. This model promotes OVO's utility coin adoption, combining decentralization benefits, high speed Transaction Per Second with closed point-to-point effectiveness. Celebrating Ovato (OVO)'s inclusion, BingX presents user-engaging events with deposit-based cashbacks and rewards, underscoring its commitment to enriching the trading experience. From deposit cashbacks to participation rewards, users have the chance to share a prize pool totaling over $20,000. Stay Tuned to BingX OVO Airdrop Event for further updates. About BingX Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Contact Details BingX Elvisco [email protected] Company Website https://bingx.com/en-us/ View source version on newsdirect.com: https://newsdirect.com/news/bingx-lists-paypal-usd-pyusd-and-ovato-ovo-565927303 View comments", "SINGAPORE --News Direct-- BingX SINGAPORE - Media OutReach - 31 August 2023 - BingX, a top cryptocurrency trading platform, continues its mission of providing users with opportunities by announcing the listing of two new tokens on its Spot trading platform: PayPal USD (PYUSD) and Ovato (OVO). These developments mark significant milestones for the cryptocurrency sector, demonstrating its resilience and adaptability as PayPal is the first to launch a stablecoin as a major payment processor. Furthermore, recent legal proceedings challenging the U.S. Securities and Exchange Commission (SEC) are sparking optimism for the eventual approval of a Bitcoin Exchange-Traded Fund (ETF), providing renewed hope for the broader cryptocurrency landscape. PayPal USD (PYUSD): Redefining Digital Transactions BingX introduces PayPal USD trading pair ( PYUSD/USDT ), a stablecoin redesigning digital transactions. PYUSD facilitates seamless buying, selling, and transferring within the platform. Transfers to Ethereum wallets and fee-free transactions on PayPal further enhance its usability. Ovato (OVO): Merging Decentralization with Centralized Principles BingX welcomes Ovato trading pair ( OVO/USDT ), utilizing blockchain for decentralized economics with a nod to centralized business efficiency. This model promotes OVO's utility coin adoption, combining decentralization benefits, high speed Transaction Per Second with closed point-to-point effectiveness. Celebrating Ovato (OVO)'s inclusion, BingX presents user-engaging events with deposit-based cashbacks and rewards, underscoring its commitment to enriching the trading experience. From deposit cashbacks to participation rewards, users have the chance to share a prize pool totaling over $20,000. Stay Tuned to BingX OVO Airdrop Event for further updates. About BingX Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Contact Details BingX Elvisco [email protected] Company Website https://bingx.com/en-us/ View source version on newsdirect.com: https://newsdirect.com/news/bingx-lists-paypal-usd-pyusd-and-ovato-ovo-565927303 View comments", "Bitcoin, Ether and most other top ten non-stablecoin cryptocurrencies dipped Thursday morning in Asia. The market lost some of the ground it made up Wednesday following a favorable U.S. court ruling for Grayscale Investments in its Bitcoin ETF case against the U.S. Securities and Exchange Commission (SEC). Elsewhere, U.S. equity futures were trading flat following four straight days of advances across the three major indexes. Weaker than expected economic data has raised hopes of another pause for interest rate hikes. Investors now await the release of U.S. jobs data Friday. Some way to go Bitcoin dropped 1.35% over the last 24 hours to US$27,248.34 as of 06:55 a.m. in Hong Kong. The token is up 3.04% for the week, according to CoinMarketCap data . The world’s leading cryptocurrency briefly rose above US$28,000 during the early hours of Thursday morning. Ether also posted losses. It fell 1.57% to US$1,702.62 over the past 24 hours for a 1.60% weekly gain. All other top ten non-stablecoin cryptos posted losses, with Solana’s SOL leading the losers with a dip of 4.28%. Toncoin was the only top ten crypto to post a gain. It rose 0.28% over the past 24 hours. The losses across most of the market followed a day of gains Wednesday on the back of a favorable U.S. court ruling for Grayscale Investments in its ongoing legal dispute with the SEC. The Connecticut-based digital asset management firm filed a lawsuit against the SEC in June 2022 following the rejection of the company’s proposal to convert its GBTC Bitcoin fund into a spot Bitcoin exchange-traded fund (ETF). A U.S. appeals court overturned the SEC’s refusal Tuesday, opening up a potential avenue for approval. In light of the news, Nigel Green, founder of financial management group deVere, said spot Bitcoin ETFs are now an “inevitability” that will cause another bull run in the market. “The court’s decision destroys the SEC’s central argument for rejecting every spot Bitcoin ETF over the last few years. This win paves the way for Bitcoin ETFs,” he said in an emailed comment. Story continues “ETFs typically involve the purchase of the underlying asset by the fund managers. If Bitcoin ETFs follow this structure, it could create a substantial demand for actual Bitcoins to back the ETF shares,” Green said. Bitcoin’s next halving event is expected to take place in April 2024. The halving event will see the amount of new Bitcoin issued cut in half, increasing its scarcity. Increased demand caused by ETF approval coupled with the limited supply of Bitcoin will lead to a surge in the token’s price, Green said. Matteo Greco, a research analyst at digital asset investment firm Fineqia International, took a less bullish view. He pointed out that Grayscale’s favorable court ruling is just one part of an application process that is still incomplete. “The decision of the court is of course important but doesn’t change anything for now,” Greco said in an emailed statement. “Grayscale obtained the chance of seeing their filing re-evaluated by the SEC as the causes of rejection did not seem fair to the judge,” Greco continued. “It doesn’t mean that now Grayscale will be 100% able to list a spot Bitcoin ETF, nor that this will happen in the future.” Other major U.S. financial institutions including BlackRock, Fidelity, Invesco and WisdomTree have filed their own ETF applications. The SEC is scheduled to rule on each of the applications this week. However, the regulator delayed a decision on Ark Investment Managament’s ETF application in early August and could do so again. Lot of tweets/publications saying things are de-facto pushed out to 2024 for spot #Bitcoin ETFs. Hype for approvals right before halving etc etc. But there's still a bunch of deadlines in 2023 squared off in Green below. PLUS we are waiting on @grayscale & $GBTC court case pic.twitter.com/nTHHxVztw7 — James Seyffart (@JSeyff) August 15, 2023 The total crypto market capitalization fell 1.41% to US$1.09 trillion, and trading volume dropped 38.98% to US$32.02 billion. US data weaker than expected Image: Envato Elements U.S. stock futures edged up as of 08:40 a.m. in Hong Kong. Gains for all three major indexes during regular session trading Wednesday marked a fourth consecutive day of growth. Weaker than expected U.S. economy data has raised hopes that the Federal Reserve will keep interest rates unchanged in its September meeting. Wednesday’s U.S. gross domestic product (GDP) report for the second quarter recorded a lower-than-expected annual growth rate of 2.1%. The figure was down on the 2.4% reported in July. “The downgrade to second-quarter GDP growth will be welcomed by Fed officials and reinforces our expectations for a policy pause in September but the door will remain open to further tightening,” Lydia Boussour, senior economist at New York-based financial strategy firm EY-Parthenon, told Reuters. The Labor Statistics Bureau also reported weaker-than-expected job openings data Tuesday, which stood at 8.82 million compared to the expected 9.46 million. The figure, which is its lowest since March 2021, points to a slowing labor market. Investors now look ahead to the release of July’s personal consumption expenditures (PCE) price index later on Thursday, followed by weekly jobless claims data on Friday. Meanwhile, the main Asia equities markets were trading mixed Thursday morning in Hong Kong. China’s Shanghai Composite, Japan’s Nikkei 225 and South Korea’s Kospi gained while Hong Kong’s Hang Seng Index edged slightly lower. Asian stocks were affected by news that China’s manufacturing activity shrank for the fifth consecutive month. China’s non-manufacturing purchasing managers’ index also hit a yearly low as the nation’s economy feels the strain of an ongoing crisis in the real estate sector. (Updates to add equities section)", 'Bitcoin, Ether and most other top ten non-stablecoin cryptocurrencies dipped Thursday morning in Asia. The market lost some of the ground it made up Wednesday following a favorable U.S. court ruling for Grayscale Investments in its Bitcoin ETF case against the U.S. Securities and Exchange Commission (SEC). Elsewhere, U.S. equity futures were trading flat following four straight days of advances across the three major indexes. Weaker than expected economic data has raised hopes of another pause for interest rate hikes. Investors now await the release of U.S. jobs data Friday.\nBitcoin dropped 1.35% over the last 24 hours to US$27,248.34 as of 06:55 a.m. in Hong Kong. The token is up 3.04% for the week, according to CoinMarketCapdata. The world’s leading cryptocurrency briefly rose above US$28,000 during the early hours of Thursday morning.\nEther also posted losses. It fell 1.57% to US$1,702.62 over the past 24 hours for a 1.60% weekly gain. All other top ten non-stablecoin cryptos posted losses, with Solana’s SOL leading the losers with a dip of 4.28%. Toncoin was the only top ten crypto to post a gain. It rose 0.28% over the past 24 hours.\nThe losses across most of the market followed a day of gains Wednesday on the back of a favorable U.S. court ruling for Grayscale Investments in its ongoing legal dispute with the SEC.\nThe Connecticut-based digital asset management firm filed a lawsuit against the SEC in June 2022 following the rejection of the company’s proposal to convert its GBTC Bitcoin fund into a spot Bitcoin exchange-traded fund (ETF). A U.S. appeals court overturned the SEC’s refusal Tuesday, opening up a potential avenue for approval.\nIn light of the news, Nigel Green, founder of financial management group deVere, said spot Bitcoin ETFs are now an “inevitability” that will cause another bull run in the market. “The court’s decision destroys the SEC’s central argument for rejecting every spot Bitcoin ETF over the last few years. This win paves the way for Bitcoin ETFs,” he said in an emailed comment.\n“ETFs typically involve the purchase of the underlying asset by the fund managers. If Bitcoin ETFs follow this structure, it could create a substantial demand for actual Bitcoins to back the ETF shares,” Green said.\nBitcoin’s next halving event is expected to take place in April 2024. The halving event will see the amount of new Bitcoin issued cut in half, increasing its scarcity. Increased demand caused by ETF approval coupled with the limited supply of Bitcoin will lead to a surge in the token’s price, Green said.\nMatteo Greco, a research analyst at digital asset investment firm Fineqia International, took a less bullish view. He pointed out that Grayscale’s favorable court ruling is just one part of an application process that is still incomplete.\n“The decision of the court is of course important but doesn’t change anything for now,” Greco said in an emailed statement.\n“Grayscale obtained the chance of seeing their filing re-evaluated by the SEC as the causes of rejection did not seem fair to the judge,” Greco continued. “It doesn’t mean that now Grayscale will be 100% able to list a spot Bitcoin ETF, nor that this will happen in the future.”\nOther major U.S. financial institutions including BlackRock, Fidelity, Invesco and WisdomTree have filed their own ETF applications. The SEC is scheduled to rule on each of the applications this week. However, the regulatordelayeda decision on Ark Investment Managament’s ETF application in early August and could do so again.\nThe total crypto market capitalization fell 1.41% to US$1.09 trillion, and trading volume dropped 38.98% to US$32.02 billion.\nU.S. stock futures edged up as of 08:40 a.m. in Hong Kong. Gains for all three major indexes during regular session trading Wednesday marked a fourth consecutive day of growth.\nWeaker than expected U.S. economy data has raised hopes that the Federal Reserve will keep interest rates unchanged in its September meeting. Wednesday’s U.S. gross domestic product (GDP)reportfor the second quarter recorded a lower-than-expected annual growth rate of 2.1%. The figure was down on the 2.4%reportedin July.\n“The downgrade to second-quarter GDP growth will be welcomed by Fed officials and reinforces our expectations for a policy pause in September but the door will remain open to further tightening,” Lydia Boussour, senior economist at New York-based financial strategy firm EY-Parthenon,toldReuters.\nThe Labor Statistics Bureau also reported weaker-than-expected job openings data Tuesday, which stood at 8.82 million compared to theexpected9.46 million. The figure, which is its lowest since March 2021, points to a slowing labor market.\nInvestors now look ahead to the release of July’s personal consumption expenditures (PCE) price index later on Thursday, followed by weekly jobless claims data on Friday.\nMeanwhile, the main Asia equities markets were trading mixed Thursday morning in Hong Kong. China’s Shanghai Composite, Japan’s Nikkei 225 and South Korea’s Kospi gained while Hong Kong’s Hang Seng Index edged slightly lower.\nAsian stocks were affected by news that China’s manufacturing activityshrankfor the fifth consecutive month. China’s non-manufacturing purchasing managers’ index also hit ayearly lowas the nation’s economy feels the strain of an ongoingcrisisin the real estate sector.\n(Updates to add equities section)', '• US stocks climbed following Wednesday\'s cooler-than-expected ADP jobs report.\n• Private-sector employers added 177,000 jobs this month, below last month\'s reading of 371,000.\n• Investors cheered as the data came after Tuesday\'s job-opening data, which was the lowest in two years.\nUS stocks climbed Wednesday and the S&P 500 extended its winning streak four days following cooler-than-expected job data.\nEarly Wednesday, ADP reported that private-sector employers added 177,000 jobs this month, less than the Dow Jones survey expectations of 200,000, and far below last month\'s revised reading of 371,000.\nThat could be a hint that the Labor Department\'s jobs report on Friday will also indicate a cooler labor market, though the two data sets often diverge.\nStill, the ADP report added to hopes that the Federal Reserve can be less hawkish as it followed Tuesday\'s Job Openings and Labor Turnover reading, which showed there were 8.827 million job openings in July, the third straight monthly drop and the lowest mark in over two years.\nAlso on Wednesday, second-quarter economic growth was revised down to 2.1% from an earlier reading of 2.4%.\n"The [ADP] report and this morning\'s downward revision to GDP imply that the inflation-ridden, red-hot services sector may finally be reaching supply and demand balance, a welcome development relieving market players of further monetary policy intensity at the moment," José Torres, senior economist at Interactive Brokers, wrote in a note Wednesday.\nHere\'s where US indexes stood as the market closed 4:00 p.m. on Wednesday:\n• S&P 500:4,514.86, up 0.38%\n• Dow Jones Industrial Average:34,890.24, up 0.11% (37.57 points)\n• Nasdaq Composite:14,019.31, up 0.54%\nHere\'s what else is going on:\n• Why China\'s yuan willnever be able to dethrone the US dollar, according to TS Lombard.\n• A big investor in a top luxury watch retailerdumped millions of sharesafter Rolex struck a deal to run its own stores.\n• A former Kremlin minister saidcomplete de-dollarization in Russiais "impossible and irrational."\n• The housing market is so unattractive thatinvestor purchases have tumbled 45%.\n• Nvidia stock has another 125% upside,according to one Wall Street firm.\nIn commodities, bonds, and crypto:\n• Oil prices climbed, withWest Texas Intermediateup 0.57% to $81.62 a barrel.Brent crude, the international benchmark, inched higher 0.42% to $85.85 a barrel.\n• Goldedged higher 0.34% to $1,971.80 per ounce.\n• The10-year yieldstayed flat at 4.12%.\n• Bitcoinfell 2.35% to $27,242.\nRead the original article onBusiness Insider', "Arkham Intelligence Has Identified Robinhood As A Large Holder Of Ethereum And Bitcoin\nCryptocurrency data tracking platform Arkham Intelligence hasidentifiedRobinhood as a significant holder of bothEthereum (ETH)andBitcoin (BTC), shedding light on the platform's expanding involvement in the crypto landscape.\nWhile Robinhood's ownership of the third-largest Bitcoin wallet drew previous attention, Arkham revealed that the company also possesses the fifth-largest Ethereum wallet, securing a substantial $2.54 billion worth of ETH.\nArkham clarified the rationale behind the sizable holding by emphasizing that the money in Robinhood's Ethereum wallet is being maintained in safekeeping for user balances. A wallet connected to Robinhood includes 122,076 BTC (equal to $3.3 billion), 34.1 trillionShiba Inutokens ($277.8 million), 4.9 millionLINKtokens ($29.7 million), and 2.6 millionAVAXtokens ($29.6 million), according to the on-chain analytics firm.\nDespite growing in the crypto space, Robinhood has had trouble maintaining high trading volumes. The company's cryptocurrency revenue fell in the second quarter from $38 million in the first quarter to $31 million. This modification in trading activity comes after the company recently added new functionality to its wallet product in response to user requests. Notably, custody services and support for Bitcoin, Ethereum andDogecoinswaps are now available in Robinhood's wallet.\nInitial versions of the Robinhood Wallet supported the Polygon and Ethereum networks and included tokens such as COMP, MATIC, SHIB, SOL, UNI and the USDC stablecoin.", "Arkham: Robinhood Wallet Identified as Major Holder of Ethereum Worth $2.54B and Bitcoin Worth $3.3B Arkham Intelligence Has Identified Robinhood As A Large Holder Of Ethereum And Bitcoin Cryptocurrency data tracking platform Arkham Intelligence has identified Robinhood as a significant holder of both Ethereum (ETH) and Bitcoin (BTC) , shedding light on the platform's expanding involvement in the crypto landscape. While Robinhood's ownership of the third-largest Bitcoin wallet drew previous attention, Arkham revealed that the company also possesses the fifth-largest Ethereum wallet, securing a substantial $2.54 billion worth of ETH. Arkham clarified the rationale behind the sizable holding by emphasizing that the money in Robinhood's Ethereum wallet is being maintained in safekeeping for user balances. A wallet connected to Robinhood includes 122,076 BTC (equal to $3.3 billion), 34.1 trillion Shiba Inu tokens ($277.8 million), 4.9 million LINK tokens ($29.7 million), and 2.6 million AVAX tokens ($29.6 million), according to the on-chain analytics firm. Despite growing in the crypto space, Robinhood has had trouble maintaining high trading volumes. The company's cryptocurrency revenue fell in the second quarter from $38 million in the first quarter to $31 million. This modification in trading activity comes after the company recently added new functionality to its wallet product in response to user requests. Notably, custody services and support for Bitcoin, Ethereum and Dogecoin swaps are now available in Robinhood's wallet. Initial versions of the Robinhood Wallet supported the Polygon and Ethereum networks and included tokens such as COMP, MATIC, SHIB, SOL, UNI and the USDC stablecoin. View comments", "Arkham Intelligence Has Identified Robinhood As A Large Holder Of Ethereum And Bitcoin\nCryptocurrency data tracking platform Arkham Intelligence hasidentifiedRobinhood as a significant holder of bothEthereum (ETH)andBitcoin (BTC), shedding light on the platform's expanding involvement in the crypto landscape.\nWhile Robinhood's ownership of the third-largest Bitcoin wallet drew previous attention, Arkham revealed that the company also possesses the fifth-largest Ethereum wallet, securing a substantial $2.54 billion worth of ETH.\nArkham clarified the rationale behind the sizable holding by emphasizing that the money in Robinhood's Ethereum wallet is being maintained in safekeeping for user balances. A wallet connected to Robinhood includes 122,076 BTC (equal to $3.3 billion), 34.1 trillionShiba Inutokens ($277.8 million), 4.9 millionLINKtokens ($29.7 million), and 2.6 millionAVAXtokens ($29.6 million), according to the on-chain analytics firm.\nDespite growing in the crypto space, Robinhood has had trouble maintaining high trading volumes. The company's cryptocurrency revenue fell in the second quarter from $38 million in the first quarter to $31 million. This modification in trading activity comes after the company recently added new functionality to its wallet product in response to user requests. Notably, custody services and support for Bitcoin, Ethereum andDogecoinswaps are now available in Robinhood's wallet.\nInitial versions of the Robinhood Wallet supported the Polygon and Ethereum networks and included tokens such as COMP, MATIC, SHIB, SOL, UNI and the USDC stablecoin.", '* Euro and Europe hike bets higher as inflation lingers * China data slightly beats expectations; yuan steady * Europe inflation, U.S. core PCE and consumption data ahead By Tom Westbrook SINGAPORE, Aug 31 (Reuters) - The euro stood by a 15-year high on the yen on Thursday in anticipation of sticky European inflation figures, while the dollar was squeezed ahead of consumption, inflation and jobs data that could add to evidence of a softening economy. A marginally better-than-expected Chinese manufacturing survey kept the yuan, Australian dollar and New Zealand dollar steady in Asia trade, though all three are set for sizeable monthly drops on worries about China\'s economic slowdown. The Aussie traded 0.2% firmer at $0.6485 and the kiwi, down 4% for August, held at $0.5960. The yuan traded at 7.2895 per dollar for a 2% monthly loss. The euro hovered at $1.0922, after gaining 0.4% on Wednesday when higher-than-expected inflation numbers in Germany and Spain pointed to a hit Europe-wide reading due on Thursday. Traders have priced in an increased chance of a rate hike in Europe next month of about 50-50, and the euro has made a new 15-year high of 159.76 per yen, though analysts think further gains would need substantial improvement in the economy. "If a weaker dollar is only likely when the signs of slower growth are clear, a stronger euro is only likely when the current gloom about the economy eases," said Societe Generale strategist Kit Juckes. Sterling, which followed the euro\'s gains likewise was firm $1.2723, though both sterling and the euro are also set for monthly drops against the dollar in August. Dollar gains have been fuelled by an expectation that interest rates linger longer at elevated levels, but have pared this week on glimpses of cooling spending and hiring in the U.S. The dollar index, while still up more than 1% for August, has fallen 1% for the week so far. U.S. personal consumption data and core PCE - which is the Federal Reserve\'s favoured inflation gauge - are due later on Thursday. Overnight the Commerce Department revised down second-quarter growth to 2.1% from an estimate of 2.4%. U.S. payrolls data is due on Friday and second-tier figures this week such as job openings and private payrolls have pointed to softness. "Job openings have come off very sharply over the last three months," said Steve Englander, head of G10 FX research at Standard Chartered. "We think this will continue, and there may even be further downward revisions to hires and job openings(giving the Fed) plenty of reason to sit on its hands." Two-year Treasury yields are down about 17 basis points (bps) to 4.888% this week and Fed funds futures imply about a 40% chance of a hike by year-end, compared with about 55% at the start of the week. The dollar\'s pullback, along with wariness of government intervention, has steadied the yen. It is 2.5% lower on the dollar this month and down 10% for the year, but has found some traction around 146 yen per dollar. Japanese data was mixed on Thursday, with 6.8% year-on-year growth in retail sales handily beating a forecast of 5.4%, but factory output slumping . A rare strike at a department store in Tokyo foreshadows, perhaps, upward pressure on wages, though division among policymakers suggests a response is a ways off. The dollar last traded at 145.87 yen. Bitcoin , which has surged this week on a court ruling that bolstered prospects for a bitcoin exchange-traded fund, eased a little to $27,251. ======================================================== Currency bid prices at 0502 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0919 $1.0924 -0.04% +0.00% +1.0940 +1.0917 Dollar/Yen 145.9400 146.2650 -0.23% +0.00% +146.1600 +145.8750 Euro/Yen 159.35 159.74 -0.24% +0.00% +159.7300 +159.1900 Dollar/Swiss 0.8785 0.8785 -0.01% +0.00% +0.8786 +0.8772 Sterling/Dollar 1.2723 1.2719 +0.03% +0.00% +1.2734 +1.2711 Dollar/Canadian 1.3537 1.3534 +0.05% +0.00% +1.3540 +1.3524 Aussie/Dollar 0.6483 0.6476 +0.12% +0.00% +0.6508 +0.6472 NZ Dollar/Dollar 0.5958 0.5956 +0.05% +0.00% +0.5977 +0.5945 All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ+0.5945 (Reporting by Tom Westbrook Editing by Shri Navaratnam)', '* Euro and Europe hike bets higher as inflation lingers * China data slightly beats expectations; yuan steady * Europe inflation, U.S. core PCE and consumption data ahead By Tom Westbrook SINGAPORE, Aug 31 (Reuters) - The euro stood by a 15-year high on the yen on Thursday in anticipation of sticky European inflation figures, while the dollar was squeezed ahead of consumption, inflation and jobs data that could add to evidence of a softening economy. A marginally better-than-expected Chinese manufacturing survey kept the yuan, Australian dollar and New Zealand dollar steady in Asia trade, though all three are set for sizeable monthly drops on worries about China\'s economic slowdown. The Aussie traded 0.2% firmer at $0.6485 and the kiwi, down 4% for August, held at $0.5960. The yuan traded at 7.2895 per dollar for a 2% monthly loss. The euro hovered at $1.0922, after gaining 0.4% on Wednesday when higher-than-expected inflation numbers in Germany and Spain pointed to a hit Europe-wide reading due on Thursday. Traders have priced in an increased chance of a rate hike in Europe next month of about 50-50, and the euro has made a new 15-year high of 159.76 per yen, though analysts think further gains would need substantial improvement in the economy. "If a weaker dollar is only likely when the signs of slower growth are clear, a stronger euro is only likely when the current gloom about the economy eases," said Societe Generale strategist Kit Juckes. Sterling, which followed the euro\'s gains likewise was firm $1.2723, though both sterling and the euro are also set for monthly drops against the dollar in August. Dollar gains have been fuelled by an expectation that interest rates linger longer at elevated levels, but have pared this week on glimpses of cooling spending and hiring in the U.S. The dollar index, while still up more than 1% for August, has fallen 1% for the week so far. U.S. personal consumption data and core PCE - which is the Federal Reserve\'s favoured inflation gauge - are due later on Thursday. Overnight the Commerce Department revised down second-quarter growth to 2.1% from an estimate of 2.4%. U.S. payrolls data is due on Friday and second-tier figures this week such as job openings and private payrolls have pointed to softness. "Job openings have come off very sharply over the last three months," said Steve Englander, head of G10 FX research at Standard Chartered. "We think this will continue, and there may even be further downward revisions to hires and job openings(giving the Fed) plenty of reason to sit on its hands." Two-year Treasury yields are down about 17 basis points (bps) to 4.888% this week and Fed funds futures imply about a 40% chance of a hike by year-end, compared with about 55% at the start of the week. The dollar\'s pullback, along with wariness of government intervention, has steadied the yen. It is 2.5% lower on the dollar this month and down 10% for the year, but has found some traction around 146 yen per dollar. Japanese data was mixed on Thursday, with 6.8% year-on-year growth in retail sales handily beating a forecast of 5.4%, but factory output slumping . A rare strike at a department store in Tokyo foreshadows, perhaps, upward pressure on wages, though division among policymakers suggests a response is a ways off. The dollar last traded at 145.87 yen. Bitcoin , which has surged this week on a court ruling that bolstered prospects for a bitcoin exchange-traded fund, eased a little to $27,251. ======================================================== Currency bid prices at 0502 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0919 $1.0924 -0.04% +0.00% +1.0940 +1.0917 Dollar/Yen 145.9400 146.2650 -0.23% +0.00% +146.1600 +145.8750 Euro/Yen 159.35 159.74 -0.24% +0.00% +159.7300 +159.1900 Dollar/Swiss 0.8785 0.8785 -0.01% +0.00% +0.8786 +0.8772 Sterling/Dollar 1.2723 1.2719 +0.03% +0.00% +1.2734 +1.2711 Dollar/Canadian 1.3537 1.3534 +0.05% +0.00% +1.3540 +1.3524 Aussie/Dollar 0.6483 0.6476 +0.12% +0.00% +0.6508 +0.6472 NZ Dollar/Dollar 0.5958 0.5956 +0.05% +0.00% +0.5977 +0.5945 All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ+0.5945 (Reporting by Tom Westbrook Editing by Shri Navaratnam)', "Coinbase Stocks Surged After A Federal Judge Favoured Grayscale In A Lawsuit Against The SEC\nCoinbase's stock experienced a notable surge, climbing over 15%, following the recent federal court decision that favoredGrayscale in its lawsuit against the U.S. Securities and Exchange Commission(SEC).\nThe price of COIN increased from $73.71 on Monday’s close to $85.13 per share just before the markets closed on Tuesday. It is currently trading at $83.83 at the time of writing. Coinbase, the largest digital asset exchange in the United States, has been publicly listed on Nasdaq since 2021.\nThe SEC's decision to deny Grayscale's request to convert its Bitcoin Trust into a spot Bitcoin Exchange-Traded Fund (ETF) was found to be inconsistent by the federal court on Tuesday. This decision creates the possibility for a Bitcoin ETF to be made available on Wall Street, which investors perceive as a success for the crypto sector.\nSeveral applicants looking to start a Bitcoin ETF havepicked Coinbase to act as the fund's custodian and surveillance-sharing partner. To reduce the danger of market manipulation and manage the storage of the Bitcoin that backs the fund's shares, this function would require sharing trading and clearing activity information as well as customer identifying data.\nWhile the SEC has been hesitant to approve a Bitcoin spot ETF, investors are eager for an investment vehicle that directly exposes them to Bitcoin itself. Currently, only cryptocurrency ETF products tied to futures contracts, which speculate on the future prices of digital assets, exist in the U.S. market.", "Coinbase Stock Surges 15% as Federal Judge Favors Grayscale in SEC Lawsuit Coinbase Stocks Surged After A Federal Judge Favoured Grayscale In A Lawsuit Against The SEC Coinbase's stock experienced a notable surge, climbing over 15%, following the recent federal court decision that favored Grayscale in its lawsuit against the U.S. Securities and Exchange Commission (SEC). The price of COIN increased from $73.71 on Monday’s close to $85.13 per share just before the markets closed on Tuesday. It is currently trading at $83.83 at the time of writing. Coinbase, the largest digital asset exchange in the United States, has been publicly listed on Nasdaq since 2021. The SEC's decision to deny Grayscale's request to convert its Bitcoin Trust into a spot Bitcoin Exchange-Traded Fund (ETF) was found to be inconsistent by the federal court on Tuesday. This decision creates the possibility for a Bitcoin ETF to be made available on Wall Street, which investors perceive as a success for the crypto sector. Several applicants looking to start a Bitcoin ETF have picked Coinbase to act as the fund's custodian and surveillance-sharing partner . To reduce the danger of market manipulation and manage the storage of the Bitcoin that backs the fund's shares, this function would require sharing trading and clearing activity information as well as customer identifying data. While the SEC has been hesitant to approve a Bitcoin spot ETF, investors are eager for an investment vehicle that directly exposes them to Bitcoin itself. Currently, only cryptocurrency ETF products tied to futures contracts, which speculate on the future prices of digital assets, exist in the U.S. market.", 'BTSE Holdings Limited ROAD TOWN, British Virgin Islands, Aug. 31, 2023 (GLOBE NEWSWIRE) -- As the decentralized finance (DeFi) landscape continues to evolve, BTSE, a leading digital asset exchange, unveils its innovative Decentralized Exchange (DEX) powered by the Orderly Network. Built atop the advanced NEAR blockchain, this revolutionary exchange, BTSE DEX , epitomizes the marriage between decentralized trading and the unmatched user experience of centralized platforms. Rooted in Innovation and Growth The pivot towards DeFi underscores BTSE\'s commitment to market demand and the undeniable growth potential of this crypto sub-sector. Beyond addressing the burgeoning interest in DeFi, the BTSE DEX also stands as a testament to the white-label prowess of the business. Capitalizing on its robust background in UI/UX, seamless fiat-crypto transition, and wallet integration, BTSE is poised to infuse centralized exchange (CEX) expertise to redefine the DeFi user journey. The BTSE DEX Difference Blurring the lines between decentralized and centralized exchanges, BTSE DEX promises: A seamless integration with Orderly\'s order book infrastructure, assuring trades reminiscent of conventional centralized platforms. Superior liquidity, courtesy of Orderly Network\'s extensive market maker nexus, ensuring minimal trading slippage and competitive spreads. A versatile trading platform facilitating transactions across diverse markets, offering traders the best of both CEX and DEX worlds. Henry Liu, CEO of BTSE, stated , "BTSE DEX is not just a platform but a vision to become the preferred DeFi trading hub for NEAR Protocol enthusiasts. We aim to simplify, secure, and amplify DeFi trading opportunities. At BTSE, we\'re charting the future of crypto \'retailization\' for the masses." Jeff Mei, COO of BTSE, said , "In these turbulent times, our focus remains unwavering - empowering crypto investors. Leveraging the trust BTSE has cultivated, Orderly\'s technical brilliance, and the rising allure of DeFi, we\'re set to redefine crypto trading." Story continues Distinctive Features Powered by NEAR Unmatched Liquidity : Thanks to Orderly’s robust orderbook and off-chain market makers. Self-Custody : Users retain control, connecting their NEAR wallets to BTSE DEX. Cost-Effective : Users enjoy transaction fees as low as 0.1%. Ethereum <> NEAR Token Bridging: Through Rainbow Bridge or MultiChain at nominal gas fees. Expansive Token Range : BTSE DEX offers several popular tokens for both spot and futures trading, including BTC, AURORA, ETH, NEAR, REF, SWEAT, USDT, WBTC and more. Hassle-Free Wallet Funding : With BTSE.com enabling native withdrawals on the NEAR chain at minimal costs. Ran Yi, Co-founder of Orderly Network, commented , "We\'re thrilled about this partnership with BTSE, a testament to the power of Orderly\'s infrastructure. Now, BTSE users can seamlessly transition between the centralized and decentralized worlds, experiencing the consistency in user interface they love. BTSE\'s decision to bridge both worlds underscores their commitment to innovation and their user-centric approach." The BTSE DEX Roadmap Future enhancements for BTSE DEX encompass the addition of more tokens available for both spot and futures trading, community-driven token listings, invigorating trading contests, and lucrative trading rebates. Moreover, an exclusive ecosystem centered around the BTSE token awaits users. In addition, the upcoming multichain EVM expansion by Orderly is poised to redefine interoperability, heralding a new era of seamless DeFi integrations and broadened access. About BTSE BTSE is a leading digital asset exchange that offers a simple and secure way to trade cryptocurrencies. As the go-to exchange for all things crypto, BTSE is one of the top trusted crypto platforms for institutions, retail users and first-time traders. BTSE has developed multiple trading technologies that have been adopted across the industry, setting new standards for excellence and innovation in the world of digital asset trading. Additionally, BTSE licenses its industry-leading technology to exchanges worldwide through its white label exchange solutions, strengthening the BTSE ecosystem and bridging traditional finance with digital assets everywhere. Read more at btse.com . About BTSE DEX At BTSE DEX, we ensure DeFi investors experience seamless and efficient trading with minimal slippage, thanks to our deep liquidity and tight spreads. Our platform is powered by Orderly’s permissionless, decentralized exchange protocol built on NEAR, offering a secure and cutting-edge trading environment. Our order book solution merges the speed and convenience of centralized exchanges with the decentralized DeFi experience. This empowers digital asset investors to seize simple, secure, and efficient trading opportunities in the realm of decentralized finance. As we grow, BTSE DEX aims to become the preferred destination for DeFi traders on NEAR Protocol, with exciting EVM support on the horizon. Learn more at dex.btse.com Media Contacts : BTSE PR [email protected] Eleven International for BTSE [email protected] About Orderly Network Orderly Network is an omnichain trading infrastructure that unifies liquidity across blockchains. The platform aims to be the ultimate trading lego for seamless dApp integration by builders on any blockchain. Orderly Network is transforming DeFi by combining the transparency and composability of DEXs with the speed and performance of CEXs. Read more at https://orderly.network/ Media Contacts : Orderly PR [email protected]', 'ROAD TOWN, British Virgin Islands, Aug. 31, 2023 (GLOBE NEWSWIRE) -- As the decentralized finance (DeFi) landscape continues to evolve, BTSE, a leading digital asset exchange, unveils its innovative Decentralized Exchange (DEX) powered by the Orderly Network. Built atop the advanced NEAR blockchain, this revolutionary exchange,BTSE DEX, epitomizes the marriage between decentralized trading and the unmatched user experience of centralized platforms.\nRooted in Innovation and Growth\nThe pivot towards DeFi underscores BTSE\'s commitment to market demand and the undeniable growth potential of this crypto sub-sector. Beyond addressing the burgeoning interest in DeFi, the BTSE DEX also stands as a testament to the white-label prowess of the business. Capitalizing on its robust background in UI/UX, seamless fiat-crypto transition, and wallet integration, BTSE is poised to infuse centralized exchange (CEX) expertise to redefine the DeFi user journey.\nThe BTSE DEX Difference\nBlurring the lines between decentralized and centralized exchanges, BTSE DEX promises:\n• A seamless integration with Orderly\'s order book infrastructure, assuring trades reminiscent of conventional centralized platforms.\n• Superior liquidity, courtesy of Orderly Network\'s extensive market maker nexus, ensuring minimal trading slippage and competitive spreads.\n• A versatile trading platform facilitating transactions across diverse markets, offering traders the best of both CEX and DEX worlds.\nHenry Liu, CEO of BTSE, stated, "BTSE DEX is not just a platform but a vision to become the preferred DeFi trading hub for NEAR Protocol enthusiasts. We aim to simplify, secure, and amplify DeFi trading opportunities. At BTSE, we\'re charting the future of crypto \'retailization\' for the masses."\nJeff Mei, COO of BTSE, said, "In these turbulent times, our focus remains unwavering - empowering crypto investors. Leveraging the trust BTSE has cultivated, Orderly\'s technical brilliance, and the rising allure of DeFi, we\'re set to redefine crypto trading."\nDistinctive Features Powered by NEAR\nUnmatched Liquidity: Thanks to Orderly’s robust orderbook and off-chain market makers.Self-Custody: Users retain control, connecting their NEAR wallets to BTSE DEX.Cost-Effective: Users enjoy transaction fees as low as 0.1%.Ethereum <> NEAR Token Bridging: Through Rainbow Bridge or MultiChain at nominal gas fees.Expansive Token Range: BTSE DEX offers several popular tokens for both spot and futures trading, including BTC, AURORA, ETH, NEAR, REF, SWEAT, USDT, WBTC and more.Hassle-Free Wallet Funding: With BTSE.com enabling native withdrawals on the NEAR chain at minimal costs.\nRan Yi, Co-founder of Orderly Network, commented, "We\'re thrilled about this partnership with BTSE, a testament to the power of Orderly\'s infrastructure. Now, BTSE users can seamlessly transition between the centralized and decentralized worlds, experiencing the consistency in user interface they love. BTSE\'s decision to bridge both worlds underscores their commitment to innovation and their user-centric approach."\nThe BTSE DEX Roadmap\nFuture enhancements for BTSE DEX encompass the addition of more tokens available for both spot and futures trading, community-driven token listings, invigorating trading contests, and lucrative trading rebates. Moreover, an exclusive ecosystem centered around the BTSE token awaits users.\nIn addition, the upcoming multichain EVM expansion by Orderly is poised to redefine interoperability, heralding a new era of seamless DeFi integrations and broadened access.\nAbout BTSEBTSE is a leading digital asset exchange that offers a simple and secure way to trade cryptocurrencies. As the go-to exchange for all things crypto, BTSE is one of the top trusted crypto platforms for institutions, retail users and first-time traders. BTSE has developed multiple trading technologies that have been adopted across the industry, setting new standards for excellence and innovation in the world of digital asset trading. Additionally, BTSE licenses its industry-leading technology to exchanges worldwide through its white label exchange solutions, strengthening the BTSE ecosystem and bridging traditional finance with digital assets everywhere. Read more atbtse.com.\nAbout BTSE DEX\nAt BTSE DEX, we ensure DeFi investors experience seamless and efficient trading with minimal slippage, thanks to our deep liquidity and tight spreads. Our platform is powered by Orderly’s permissionless, decentralized exchange protocol built on NEAR, offering a secure and cutting-edge trading environment.\nOur order book solution merges the speed and convenience of centralized exchanges with the decentralized DeFi experience. This empowers digital asset investors to seize simple, secure, and efficient trading opportunities in the realm of decentralized finance.\nAs we grow, BTSE DEX aims to become the preferred destination for DeFi traders on NEAR Protocol, with exciting EVM support on the horizon. Learn more atdex.btse.com\nMedia Contacts:\nBTSE [email protected]\nEleven International for [email protected]\nAbout Orderly Network\nOrderly Network is an omnichain trading infrastructure that unifies liquidity across blockchains. The platform aims to be the ultimate trading lego for seamless dApp integration by builders on any blockchain.\nOrderly Network is transforming DeFi by combining the transparency and composability of DEXs with the speed and performance of CEXs.\nRead more athttps://orderly.network/\nMedia Contacts:\nOrderly [email protected]', 'By Samuel Indyk and Tom Westbrook LONDON, Aug 31 (Reuters) - The euro edged back on Thursday after comments from German policymaker Isabel Schnabel failed to give firm clues on whether the European Central Bank will raise rates in September, ahead of euro zone inflation data later in the day. The single currency was last at $1.0888, down 0.3% on the day, but still up almost 1% this week. ECB rate-setter Schnabel said that euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes. "We\'ve heard the most influential hawk on the Governing Council take on a much more cautious tone," said Michael Brown, analyst at Trader X. "I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro this morning." Traders moved to price around a 60% chance that the ECB will stick with its current interest rate in September, having raised bets that they would hike the day before after German and Spanish inflation figures. Euro area-wide inflation data will be released at 0900 GMT today. Sterling, which followed the euro\'s gains on Wednesday, likewise was a little softer at $1.2700. Both sterling and the euro are set for monthly drops against the dollar in August. Dollar gains have been fuelled by expectations that interest rates will linger longer at elevated levels, but have eased this week on glimpses of cooling U.S. spending and hiring. The dollar index, while still up more than 1.4% for August, has fallen 0.8% for the week so far. On Thursday it was up 0.2%. U.S. personal consumption data and core PCE - which is the Federal Reserve\'s favoured inflation gauge - are due later on Thursday. On Wednesday, the Commerce Department revised down U.S. second-quarter growth to 2.1% from an estimate of 2.4%. U.S. payrolls data is due on Friday and second-tier figures this week such as job openings and private payrolls have indicated the labour market could be losing steam. Story continues "The move in the dollar has been driven on one side by the soft second-tier U.S. jobs data," said Chris Turner, global head of markets and regional head of research for UK & CEE. "Trying to fight the dollar is still very difficult at the moment but perhaps there\'ll be more evidence of a slowdown in the fourth quarter." The dollar\'s pullback this week, along with wariness of Japanese government intervention, has steadied the yen . It is 2.4% lower on the dollar this month and down 10% for the year, but has found some stability around 146 yen per dollar. It was last at 145.855. The euro, meanwhile, was last at 158.77 yen , close to a 15-year high of 159.76 reached the day before. Japanese data was mixed on Thursday, with 6.8% year-on-year growth in retail sales handily beating a forecast of 5.4%, but factory output slumping . A rare strike at a department store in Tokyo foreshadows, perhaps, upward pressure on wages, though division among policymakers suggests a response is a ways off. A marginally better-than-expected Chinese manufacturing survey kept the yuan, Australian dollar and New Zealand dollar steady, though all three are set for sizeable monthly drops on worries about China\'s economic slowdown. The Aussie traded flat at $0.6475 and the kiwi , down 4% for August, held at $0.5954. The yuan traded at 7.2905 per dollar for a 2% monthly loss. Bitcoin, which has surged this week on a court ruling that bolstered prospects for a bitco
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-08-31
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $531,220,235,669
- Hash Rate: 398153805.8919045
- Transaction Count: 437435.0
- Unique Addresses: 742110.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.52
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: According to the latest projection by Future Market Insights (FMI), the market for these wallets is expected to achieve a Compound Annual Growth Rate (CAGR) of 9.3% through 2033. In the rapidly evolving landscape of digital finance, international crypto wallets have emerged as a game-changer, facilitating seamless cross-border transactions. This trend underscores the growing acceptance of cryptocurrencies and the transformative potential they hold for global financial interactions.
NEWARK, Del, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Thecrypto wallets marketis predicted to develop at an impressive9.3% CAGRfrom 2023 to 2033, preceding the lower7.2% CAGRwitnessed between 2018 and 2022. This substantial increase reflects the surging demand for crypto wallets, propelling the market value fromUS$ 1,505.9 millionin 2023 to an impressiveUS$ 3,675.4 millionby the end of 2033.
Increased adoption of cryptocurrencies leads to a larger user base that requires secure and convenient methods to store and manage digital assets. This drives the demand for crypto wallets as more individuals and businesses seek to participate in the cryptocurrency market.
Crypto wallets play a pivotal role in the cryptocurrency market, constituting around 25% of total cryptocurrency sales. They serve as a secure means to store private keys, ensuring safe and reliable transactions with popular digital currencies like Ethereum and Bitcoin.
As the value of cryptocurrencies rises, the risk of theft and hacking becomes more significant. Users are willing to invest in wallets that offer robust security measures, such as hardware wallets or multi-factor authentication, to safeguard their assets. This emphasis on security drives the growth of wallets that prioritize user protection.
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These wallets can be categorized into two main types: cold wallets, which include hardware and paper wallets providing offline storage, and hot wallets, encompassing desktop, web, and mobile wallets, offering convenient online transaction access. These diverse wallet options offer users various levels of security and accessibility to meet their individual needs.
As the number of cryptocurrencies and blockchain networks grows, users seek wallets that can handle multiple assets and provide seamless cross-chain capabilities. Wallets that offer interoperability become more attractive to users, resulting in increased demand and market growth.
Key Takeaways from thisMarket:
• In the United States, the burgeoning interest in cryptocurrencies and the nation's position as a global financial hub have propelled its crypto wallets market to remarkable heights. In 2022, the United States accounted for an impressive 18.4% global market share. As the adoption of digital assets gains momentum and crypto-friendly regulations continue to develop, the country is poised to maintain its significant market presence and foster further growth in the crypto wallet industry.
• India's crypto wallet industry is poised to experience substantial growth, projecting a CAGR of 12.3% by 2033. This surge comes as the country embraces digital currencies and integrates them across diverse industries, fostering increased acceptance nationwide.
• The United Kingdom's cryptocurrency wallets industry is expected to grow steadily, with a projected CAGR of 10.1% by 2033. This growth is driven by the growing acceptance of cryptocurrencies and the escalating demand for secure and user-friendly storage solutions.
• The China crypto wallet industry is set to experience substantial growth, with a projected CAGR of 8.3% through 2033. This surge is fueled by the government's growing adoption of blockchain technology and the increasing interest in digital assets among investors in the country. As these factors converge, the country's crypto wallet market is expected to witness significant expansion in the coming years.
• As Australia navigates the legal environment and gradually integrates cryptocurrencies into its financial ecosystem, the crypto wallets industry is expected to develop at a moderate CAGR of 2.5% by 2033. This growth rate reflects the country's cautious approach toward digital assets while still acknowledging the potential for gradual expansion in the crypto wallet industry.
• Japan's crypto wallets market accounted for a notable 3.8% market share in 2022, and this trend is expected to continue upward. The tech-savvy population of Japan and the increasing integration of cryptocurrencies into traditional financial services are predicted to drive significant growth in the crypto wallet industry.
Customize Your Report by Selecting Specific Countries or Regions and Save up to 30%!https://www.futuremarketinsights.com/customization-available/rep-gb-14198
Competitive Landscape:
Well-known cryptocurrency exchanges, tech behemoths, financial institutions, and specialty wallet providers are some of the key participants in the crypto wallets market. To provide their users with a full platform, well-known exchanges like Coinbase, Binance, and Kraken have expanded into the wallet service market. While this is going on, tech behemoths like Samsung and HTC have added crypto wallet functionality to their smartphones, broadening the market's appeal.
On the other side, startups emphasize innovation and niche markets, intending to offer distinctive and specialized wallet solutions that cater to certain customer needs. They frequently highlight improved security features, decentralized storage, and user-friendly interfaces to set themselves apart from their competitors.
Top 10 Key Playersare:
1. Gemini Trust Company LLC.
2. BitGo
3. Binance
4. BitMEX
5. Breadwinner AG (BRD)
6. Trezor
7. BitPay
8. Ledger SAS
9. Bittrex Global
10. Exodus
Recent Developments:
• In June 2023, Ledger, a cryptocurrency custody firm based in Paris, revealed the introduction of Ledger Enterprise Tradelink. This innovative trading system is designed to be secure and compliant with regulations, catering specifically to institutional investors. The primary objective of Ledger's new platform is to minimize third-party risk for users. It achieves this by enabling enterprise-level investors to establish a personalized interconnected network, incorporating custodians and exchanges.
• In June 2022, KuCoin, the cryptocurrency trading platform, ventured into the Web3 domain by introducing its decentralized wallet. With this new feature, KuCoin wallet users gain the ability to engage in a range of activities, such as purchasing, selling, and trading, as well as sending and receiving various cryptocurrencies, among them Bitcoin (BTC), Ether (ETH), Tether (USDT), and other similar tokens.
Ask Our Industry Experts to Access a Comprehensive Market Share Analysis of Top Key Players:https://www.futuremarketinsights.com/ask-question/rep-gb-14198
Segmentation Analysis:
By Type:
• HotDesktopWebMobile
• ColdHardwarePaper
By Application:
• E-commerce and Retail
• Peer-to-Peer Payments
• Trading
• Remittance
By Industry:
• Retail Industry
• BFSI
• Automotive
• Telecommunication
• Media and Entertainment
• Others
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)
Have a Look at the Related Reports of the Technology Domain:
Cryptojacking Solution Market Size: According to Future Market Insights, the cryptojacking solutions market will grow from US$ 17.02 billion in 2023 to US$ 64.87 billion in 2033. According to forecasts, the market will grow at a CAGR of 14.2% during the forecast period.
Crypto APIs Market Share: Crypto APIs solutions sales in the region are projected to exhibit a 22.8% CAGR and a total market size of US$ 5,569.6 Million by 2033.
Crypto Trading Platform Market Trends: The global demand for crypto trading platforms is expected to rise 14% per year to US$ 36.5 billion by 2022.
Crypto Tax Software Market Growth: The crypto tax software revenue totaled US$ 133.6 Million in 2021. The crypto tax software market is expected to reach US$ 492.2 Million by 2032, exhibiting growth at 12.7% CAGR between 2022 and 2032.
Crypto Payment Gateways Market Demand: According to Future Market Insights research, during the projected period, the Global Crypto Payments market is expected to grow at a CAGR of 14.1%. The market value is projected to increase from US$ 1,294.1 Million in 2023 to US$ 4,853.8 Million by 2033.
Private Cloud Services Market Type: The global private cloud services market is forecasted to value at US$ 405.30 billion by 2033, up from US$ 92.64 billion in 2023. As per the market reports, the private cloud services market share is advancing at a CAGR of 15.8% during the forecast period.
Application Development and Modernization (ADM) Market Analysis: The global application development and modernization (ADM) market is likely to garner a revenue of about US$ 40,694.1 million by 2033, up from US$ 13,180.9 million in 2023 advancing at a rapid CAGR of 11.9% during the forecast period.
Automotive Business Process Management Market Forecast: The global automotive business process management market is anticipated to be valued at US$ 2,497.9 million in 2023 and is forecast to record a CAGR of 11.3% to be valued at US$ 7,308.3 million from 2023 to 2033.
No-code AI Platform Market Overview: The global no-code AI platform market is projected to reach a valuation of US$ 4,094.7 million in 2023. The no-code AI platform market is expected to reach US$ 49,481.0 million by 2033 and exhibit growth at a CAGR of 28.3% from 2023 to 2033.
Aerospace Head Up Display Market Outlook: The global aerospace head-up display market is likely to cross US$ 2,149.6 million in 2023 and is predicted to secure a fast-paced CAGR of 16.1% during the forecast period. The market is expected to record a value of US$ 9,580.2 million by 2033.
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin, Ether and most top ten non-stablecoin cryptocurrencies dropped Friday morning in Asia. At a touch above US$26,000, Bitcoin has traced back most of the gains triggered by Tuesday’s favorable U.S. court ruling for Grayscale Investments in its Bitcoin ETF case against the SEC. Equity futures in the U.S. were little changed following a mixed session Thursday. The personal consumption expenditures (PCE) index moved higher as consumers continue to spend. Investors expect today’s U.S. payroll report for August to shed more light on coming interest rate policy.\nBitcoin dropped 4.42% over the last 24 hours to US$26,042.84 as of 07:00 a.m. in Hong Kong. The token is down 0.26% for the week, according to CoinMarketCapdata.\nBitcoin’s value fell along with other cryptocurrencies after the U.S. Securities and Exchange Commission announced Thursday it willdelayseven spot Bitcoin exchange traded fund applications until October. Some of the world’s largest asset managers including BlackRock, WisdomTree, and VanEck are among those waiting on the SEC for ETF approval.\n“The move is very clear; the pump we had from Grayscale-SEC news is now faded,” Benjamin Stani, director of business development at Hong Kong-based digital asset broker Matrixport, said in a text message.\nThe market, Stani added, “was hoping that after Grayscale, there [would be] a path forward and had some analysts up the probability of a spot ETF approval before the year-end — but it looks like not so soon.”\nEther dipped 3.15% to US$1,648.76 over the past 24 hours for a weekly loss of 0.33%.\n“The current technical signals for Ethereum appear to be undergoing a period of mixed trends across different time frames,” Rachael Lucas, crypto technical analyst at BTC Markets, toldForkastvia text message.\nEther market data shows the token is on track to form a so-called “death cross” — “a development often viewed with caution by market participants,” Lucas said. The cross, which occurs when the short-term average falls below the long-term trend, is generally a sign of further losses ahead. Currently, the short-term 50-day average stands at 1808.3, while the 200-day average is at 1802.9, according toTradingView.\nLucas said that Ether has stepped into a negative territory in a weekly timeframe, which may lead to a short-term pullback. “It’s essential to consider these movements in the context of broader market dynamics, as the cryptocurrency space can be characterized by rapid price shifts,” Lucas explained.\nMost other top ten non-stablecoin cryptos posted losses, with Solana’s SOL leading the losers. It dipped 5.07% to US$19.81, its lowest level in over six weeks. On Monday, Clockwork — a Solana-based automation network for smart contracts —shut down. Its founder Nick Garfield said he saw “limited commercial upside” in the project.\nMeanwhile, a U.S. court hasdismisseda class action lawsuit filed against a group of five companies including decentralized trading platform Uniswap Labs. Plaintiffs claimed they were victims of a rugpull involving scam tokens on the Uniswap cryptocurrency exchange and are entitled to compensation.\nThe courtruledthat the defendants are not responsible for those losses. Presiding Judge Katherine Polk Failla said “due to the Protocol’s decentralized nature, the identities of the scam token issuers are basically unknown and unknowable.”\nCrypto commentators interpret the ruling as a victory for decentralized finance with wide reaching implications for the industry.\n“I believe that what happened in the case against Uniswap Labs could be the first steps in clarifying the legal and regulatory environment for DeFi applications and could make investors’ concerns about sudden lawsuits and actions by regulators less and make them more predictable,” wrote Samer Hasn, market analyst for online brokerage XS.com.\n“On the other hand, this measure, and other similar possible measures, if taken in the future, may restrict investors’ confidence in these applications due to the inability to regulate them and enforce the law on them,” Hasn added.\nThe total crypto market capitalization fell 3.46% to US$1.05 trillion, while trading volume gained 16.61% to US$37.31 billion.\nU.S. stock futures were little changed as of 10:15 a.m. in Hong Kong after a mixed regular session for the three major indexes during Thursday’s regular trading hours.\nThursday’sreleaseof the Personal Consumption Expenditures Price Index for July showed that U.S. consumer spending grew by the biggest margin in six months. However,othereconomic indicators point to a slowing of the economy, with experts predicting a halt to interest rate hikes by the U.S. Federal Reserve in September.\n“The PCE is being keenly watched as investors were cheered earlier in the week by the weaker-than-expected payrolls data and annual gross domestic product growth forecast – both of which strongly make the case that the Federal Reserve must now stop its most aggressive tightening campaign in decades,” said Nigel Green, founder and chief executive officer of financial management group deVere, in an email statement.\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. The CME FedWatch Toolpredictsan 88.0% chance that the central bank will maintain the current rate at the next meeting in September, up from 81.0% a week ago.\nInvestors now look to Friday’s release of the U.S. jobs report for August released later on Friday, adding to last month’s labor market slowdown.\n“Job openings are falling, and American workers are more reluctant to leave their positions right now,” Andrew Challenger, senior vice president of Chicago-based outplacement firm Challenger, Gray & Christmas,toldCNN. He added that the market is seeing a reset after a post-coronavirus hiring frenzy.\nMeanwhile, the main Asia equity indexes were mixed. China’s SSE Composite, Japan’s Nikkei 225 and South Korea’s Kospi moved up while Hong Kong’s Hang Seng Index fell.\nOn Thursday, Chinaloweredthe minimum down payment for homebuyers in its largest cities in an effort to boost the country’s slowing housing market. The nationwide minimum downpayment will be set at 20% for first-time buyers and 30% for second-timers, effective Sep. 25.\nChina is facing a crisis in its real estate sector following the downfall of the Evergrande Group. The nation’s non-manufacturing purchasing managers’indexreleased Thursday hit a yearly low. The news has led to more caution in global equities as traders assess a slowdown in the world’s second largest economy.\n“The conventional wisdom seems to be flipping from a concern with the unstoppable rise of Chinese power to a worry about the irrevocable decline of China’s economy and population,” Richard Fontaine, CEO of Washington-based Center for a New American Security,toldBloomberg.\n(Updates to add quotes from Rachael Lucas)', 'Bitcoin, Ether and most top ten non-stablecoin cryptocurrencies dropped Friday morning in Asia. At a touch above US$26,000, Bitcoin has traced back most of the gains triggered by Tuesday’s favorable U.S. court ruling for Grayscale Investments in its Bitcoin ETF case against the SEC. Equity futures in the U.S. were little changed following a mixed session Thursday. The personal consumption expenditures (PCE) index moved higher as consumers continue to spend. Investors expect today’s U.S. payroll report for August to shed more light on coming interest rate policy. Crypto s down as SEC delays more ETF decisions Bitcoin dropped 4.42% over the last 24 hours to US$26,042.84 as of 07:00 a.m. in Hong Kong. The token is down 0.26% for the week, according to CoinMarketCap data . Bitcoin’s value fell along with other cryptocurrencies after the U.S. Securities and Exchange Commission announced Thursday it will delay seven spot Bitcoin exchange traded fund applications until October. Some of the world’s largest asset managers including BlackRock, WisdomTree, and VanEck are among those waiting on the SEC for ETF approval. “The move is very clear; the pump we had from Grayscale-SEC news is now faded,” Benjamin Stani, director of business development at Hong Kong-based digital asset broker Matrixport, said in a text message. The market, Stani added, “was hoping that after Grayscale, there [would be] a path forward and had some analysts up the probability of a spot ETF approval before the year-end — but it looks like not so soon.” Ether dipped 3.15% to US$1,648.76 over the past 24 hours for a weekly loss of 0.33%. “The current technical signals for Ethereum appear to be undergoing a period of mixed trends across different time frames,” Rachael Lucas, crypto technical analyst at BTC Markets, told Forkast via text message. Ether market data shows the token is on track to form a so-called “death cross” — “a development often viewed with caution by market participants,” Lucas said. The cross, which occurs when the short-term average falls below the long-term trend, is generally a sign of further losses ahead. Currently, the short-term 50-day average stands at 1808.3, while the 200-day average is at 1802.9, according to TradingView . Story continues Lucas said that Ether has stepped into a negative territory in a weekly timeframe, which may lead to a short-term pullback. “It’s essential to consider these movements in the context of broader market dynamics, as the cryptocurrency space can be characterized by rapid price shifts,” Lucas explained. Most other top ten non-stablecoin cryptos posted losses, with Solana’s SOL leading the losers. It dipped 5.07% to US$19.81, its lowest level in over six weeks. On Monday, Clockwork — a Solana-based automation network for smart contracts — shut down . Its founder Nick Garfield said he saw “limited commercial upside” in the project. Ultimately the reason we are stepping away now is simple opportunity cost. We admittedly see limited commercial upside in continuing to develop the protocol, and have a growing personal interest to explore new opportunities. 5/ — Nick (@time_composer) August 27, 2023 Meanwhile, a U.S. court has dismissed a class action lawsuit filed against a group of five companies including decentralized trading platform Uniswap Labs. Plaintiffs claimed they were victims of a rugpull involving scam tokens on the Uniswap cryptocurrency exchange and are entitled to compensation. The court ruled that the defendants are not responsible for those losses. Presiding Judge Katherine Polk Failla said “due to the Protocol’s decentralized nature, the identities of the scam token issuers are basically unknown and unknowable.” Crypto commentators interpret the ruling as a victory for decentralized finance with wide reaching implications for the industry. “I believe that what happened in the case against Uniswap Labs could be the first steps in clarifying the legal and regulatory environment for DeFi applications and could make investors’ concerns about sudden lawsuits and actions by regulators less and make them more predictable,” wrote Samer Hasn, market analyst for online brokerage XS.com. “On the other hand, this measure, and other similar possible measures, if taken in the future, may restrict investors’ confidence in these applications due to the inability to regulate them and enforce the law on them,” Hasn added. The total crypto market capitalization fell 3.46% to US$1.05 trillion, while trading volume gained 16.61% to US$37.31 billion. U.S. futures trade flat ahead of jobs data Image: Envato Elements U.S. stock futures were little changed as of 10:15 a.m. in Hong Kong after a mixed regular session for the three major indexes during Thursday’s regular trading hours. Thursday’s release of the Personal Consumption Expenditures Price Index for July showed that U.S. consumer spending grew by the biggest margin in six months. However, other economic indicators point to a slowing of the economy, with experts predicting a halt to interest rate hikes by the U.S. Federal Reserve in September. “The PCE is being keenly watched as investors were cheered earlier in the week by the weaker-than-expected payrolls data and annual gross domestic product growth forecast – both of which strongly make the case that the Federal Reserve must now stop its most aggressive tightening campaign in decades,” said Nigel Green, founder and chief executive officer of financial management group deVere, in an email statement. The Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. The CME FedWatch Tool predicts an 88.0% chance that the central bank will maintain the current rate at the next meeting in September, up from 81.0% a week ago. Investors now look to Friday’s release of the U.S. jobs report for August released later on Friday, adding to last month’s labor market slowdown. “Job openings are falling, and American workers are more reluctant to leave their positions right now,” Andrew Challenger, senior vice president of Chicago-based outplacement firm Challenger, Gray & Christmas, told CNN. He added that the market is seeing a reset after a post-coronavirus hiring frenzy. Meanwhile, the main Asia equity indexes were mixed. China’s SSE Composite, Japan’s Nikkei 225 and South Korea’s Kospi moved up while Hong Kong’s Hang Seng Index fell. On Thursday, China lowered the minimum down payment for homebuyers in its largest cities in an effort to boost the country’s slowing housing market. The nationwide minimum downpayment will be set at 20% for first-time buyers and 30% for second-timers, effective Sep. 25. China is facing a crisis in its real estate sector following the downfall of the Evergrande Group. The nation’s non-manufacturing purchasing managers’ index released Thursday hit a yearly low. The news has led to more caution in global equities as traders assess a slowdown in the world’s second largest economy. “The conventional wisdom seems to be flipping from a concern with the unstoppable rise of Chinese power to a worry about the irrevocable decline of China’s economy and population,” Richard Fontaine, CEO of Washington-based Center for a New American Security, told Bloomberg. (Updates to add quotes from Rachael Lucas)', 'Bitcoin, Ether and most top ten non-stablecoin cryptocurrencies dropped Friday morning in Asia. At a touch above US$26,000, Bitcoin has traced back most of the gains triggered by Tuesday’s favorable U.S. court ruling for Grayscale Investments in its Bitcoin ETF case against the SEC. Equity futures in the U.S. were little changed following a mixed session Thursday. The personal consumption expenditures (PCE) index moved higher as consumers continue to spend. Investors expect today’s U.S. payroll report for August to shed more light on coming interest rate policy.\nBitcoin dropped 4.42% over the last 24 hours to US$26,042.84 as of 07:00 a.m. in Hong Kong. The token is down 0.26% for the week, according to CoinMarketCapdata.\nBitcoin’s value fell along with other cryptocurrencies after the U.S. Securities and Exchange Commission announced Thursday it willdelayseven spot Bitcoin exchange traded fund applications until October. Some of the world’s largest asset managers including BlackRock, WisdomTree, and VanEck are among those waiting on the SEC for ETF approval.\n“The move is very clear; the pump we had from Grayscale-SEC news is now faded,” Benjamin Stani, director of business development at Hong Kong-based digital asset broker Matrixport, said in a text message.\nThe market, Stani added, “was hoping that after Grayscale, there [would be] a path forward and had some analysts up the probability of a spot ETF approval before the year-end — but it looks like not so soon.”\nEther dipped 3.15% to US$1,648.76 over the past 24 hours for a weekly loss of 0.33%.\n“The current technical signals for Ethereum appear to be undergoing a period of mixed trends across different time frames,” Rachael Lucas, crypto technical analyst at BTC Markets, toldForkastvia text message.\nEther market data shows the token is on track to form a so-called “death cross” — “a development often viewed with caution by market participants,” Lucas said. The cross, which occurs when the short-term average falls below the long-term trend, is generally a sign of further losses ahead. Currently, the short-term 50-day average stands at 1808.3, while the 200-day average is at 1802.9, according toTradingView.\nLucas said that Ether has stepped into a negative territory in a weekly timeframe, which may lead to a short-term pullback. “It’s essential to consider these movements in the context of broader market dynamics, as the cryptocurrency space can be characterized by rapid price shifts,” Lucas explained.\nMost other top ten non-stablecoin cryptos posted losses, with Solana’s SOL leading the losers. It dipped 5.07% to US$19.81, its lowest level in over six weeks. On Monday, Clockwork — a Solana-based automation network for smart contracts —shut down. Its founder Nick Garfield said he saw “limited commercial upside” in the project.\nMeanwhile, a U.S. court hasdismisseda class action lawsuit filed against a group of five companies including decentralized trading platform Uniswap Labs. Plaintiffs claimed they were victims of a rugpull involving scam tokens on the Uniswap cryptocurrency exchange and are entitled to compensation.\nThe courtruledthat the defendants are not responsible for those losses. Presiding Judge Katherine Polk Failla said “due to the Protocol’s decentralized nature, the identities of the scam token issuers are basically unknown and unknowable.”\nCrypto commentators interpret the ruling as a victory for decentralized finance with wide reaching implications for the industry.\n“I believe that what happened in the case against Uniswap Labs could be the first steps in clarifying the legal and regulatory environment for DeFi applications and could make investors’ concerns about sudden lawsuits and actions by regulators less and make them more predictable,” wrote Samer Hasn, market analyst for online brokerage XS.com.\n“On the other hand, this measure, and other similar possible measures, if taken in the future, may restrict investors’ confidence in these applications due to the inability to regulate them and enforce the law on them,” Hasn added.\nThe total crypto market capitalization fell 3.46% to US$1.05 trillion, while trading volume gained 16.61% to US$37.31 billion.\nU.S. stock futures were little changed as of 10:15 a.m. in Hong Kong after a mixed regular session for the three major indexes during Thursday’s regular trading hours.\nThursday’sreleaseof the Personal Consumption Expenditures Price Index for July showed that U.S. consumer spending grew by the biggest margin in six months. However,othereconomic indicators point to a slowing of the economy, with experts predicting a halt to interest rate hikes by the U.S. Federal Reserve in September.\n“The PCE is being keenly watched as investors were cheered earlier in the week by the weaker-than-expected payrolls data and annual gross domestic product growth forecast – both of which strongly make the case that the Federal Reserve must now stop its most aggressive tightening campaign in decades,” said Nigel Green, founder and chief executive officer of financial management group deVere, in an email statement.\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. The CME FedWatch Toolpredictsan 88.0% chance that the central bank will maintain the current rate at the next meeting in September, up from 81.0% a week ago.\nInvestors now look to Friday’s release of the U.S. jobs report for August released later on Friday, adding to last month’s labor market slowdown.\n“Job openings are falling, and American workers are more reluctant to leave their positions right now,” Andrew Challenger, senior vice president of Chicago-based outplacement firm Challenger, Gray & Christmas,toldCNN. He added that the market is seeing a reset after a post-coronavirus hiring frenzy.\nMeanwhile, the main Asia equity indexes were mixed. China’s SSE Composite, Japan’s Nikkei 225 and South Korea’s Kospi moved up while Hong Kong’s Hang Seng Index fell.\nOn Thursday, Chinaloweredthe minimum down payment for homebuyers in its largest cities in an effort to boost the country’s slowing housing market. The nationwide minimum downpayment will be set at 20% for first-time buyers and 30% for second-timers, effective Sep. 25.\nChina is facing a crisis in its real estate sector following the downfall of the Evergrande Group. The nation’s non-manufacturing purchasing managers’indexreleased Thursday hit a yearly low. The news has led to more caution in global equities as traders assess a slowdown in the world’s second largest economy.\n“The conventional wisdom seems to be flipping from a concern with the unstoppable rise of Chinese power to a worry about the irrevocable decline of China’s economy and population,” Richard Fontaine, CEO of Washington-based Center for a New American Security,toldBloomberg.\n(Updates to add quotes from Rachael Lucas)', 'Data — the very mention conjures dull and dreary images in our minds. Crypto — far more exciting — draws images of the rise-and-fall, of thrilling new advances and a brave new world.\nAnd yet, where data meets crypto and the underlying technologies behind it, is where the future lies. The intersection and interplay of data and these new, emerging technologies will revolutionize how farming is done across Africa, and indeed the globe.\nThe time for this revolution is now. Africa still remains anet importer of fooddespite holding vast areas of arable land and figures show a growing hunger problem as282 million people are undernourishedacross the continent, equating to more than one in five people. More specifically, small farms are the dominant form of agriculture, with an estimated33 million smallholder farmsproducing around 80% of Sub-Saharan Africa’s food supply, despite being highly susceptible to ongoing weather and market fluctuations.\nAdded to this,almost half the population of Sub-Saharan Africa is unbanked, meaning they lack access to traditional forms of finance, hindering growth and investment.\nTherein lies the opportunity for farmers. As tech excels and revolutionary technologies such as AI and machine learning advance rapidly, solutions are readily available and ready to implement across the board.\nGenerating data is easy, and there is lots of it to be generated. Farmers know better than anyone what is happening on the ground, but reams of data add a new dimension to understanding how their farm operates on a more intricate level. Through introducing the internet of things (IoT) to farming, a farmer’s crops can be embedded with sensors and other technologies to provide real-time, continuous rafts of data, available at all times and with minimal intervention. This can range from monitoring a specific crop’s required fertilizer levels or predicting expected yield at any moment in time, to understanding the conditions that lead to disease or susceptibility to pests.\nAs the data flows in, we have the tools to analyze it on the go and give farmers data-driven, digestible insights to better understand crop and farm health. AI and machine learning can be taught to read the data and provide farmers with simple actions to ensure better yield, or to mitigate risks associated with largely unpredictable weather patterns. AI and machine learning have revolutionized how data can be utilized and the trajectory shows all signs of continuing.\nThese reams of data, now made accessible through technological advances, continue to drive better farming that will only improve as time moves on. While real-time insights and actions impact farmers on a personal level, vast amounts of data also mean farmers no longer operate in self-contained silos; when a farmer in South America makes progress, their equal in Africa can avail of the learnings.\nBlockchain too is now being implemented extensively across supply chains as a trusted way of storing data, ensuring immutability for sustainability credentials. In practice, this means any company or individual along the supply chain can check and validate these credentials easily, all the way from farm to fork, with blockchain absolutely guaranteeing the information provided. This promotes not only transparency among all involved parties but also facilitates the storage and collection of reliable data which in turn can feed into more intricate insights.\nThese technologies are relatively inexpensive to implement and, once up and running, cost little to maintain, and the payout is phenomenal. Farmers also have access to all the info they need on their mobile devices, which is paramount in Africa as reports show an average of84% of the population owned mobile phonesacross the continent in 2021 (with some countries averaging over 94%).\nIn crypto we talk about interoperability; this is interoperability in practice.\nMany have heralded crypto as the force that will reinvent and reestablish how finance is conducted. Maybe, or maybe not, but what we can already see is that crypto offers a system of financial inclusion for those who may be unbanked or marginalized. As so many in Sub-Saharan Africa are unbanked, crypto offers transparent peer-to-peer transactions without the need for an intermediary such as a traditional, centralized financial institution.\nCrypto holds the key to the vault. Where access to a bank is not possible but a farmer has their mobile phone in their hand, they now have access to financial services. Such is the extent of crypto’s financial offering that we are now seeinglife insurance companieswith Bitcoin-denominated policies and companies offeringloans through crypto.\nThough in its early stages, industry must now focus its efforts on refining these services to ensure marginalized people in Africa, and further afield, can avail of the everyday services we take for granted in the developed world.\nDriving digital transformation and socioeconomic advancement is no simple endeavor, but farmers in Africa are at a critical juncture, one that presents a fantastic opportunity to truly revolutionize how farming is done across the continent. Time is of the essence, especially as regulation is imposing stricter controls on products. The European Union’sdeforestation regulationwas introduced in June, with farmers and traders given 18 months to implement the new rules. This regulation, while timely, heavily impacts coffee and cocoa in particular, two major exports across the continent: almost 70% of the world’s cocoa is produced in Africa and 12% of the world’s coffee.\nFarmers in Africa, indeed across the globe, have farmed in line with what works best in their environment and with the resources available. Established ways of working, passed down through generations, have ensured farmers could earn a living and feed their families, but legacy obstacles persist in places. Alongside this, we must remember that blockchain, AI and emerging technologies are now coming to the forefront and entering the mainstream psyche.\nThese technologies offer new avenues and systems for farmers across the globe to enhance their work, but we must acknowledge the context in which they exist. Change does not happen overnight. We are now at the critical intersection of these technologies being recognized as revolutionary, while mobile uptake and internet access in marginalized communities means we can actually deliver the technology to farmers. The final obstacle is simply bringing the technology to those who need it as quickly as we can.\nThese emerging technologies are positioned to uniquely solve so many challenges facing farmers across the continent. Through crypto, we can democratize finance and bring financial stability and inclusion to those who have so often been marginalized from the conversation. And through innovative technologies such as blockchain, AI and machine learning, we can truly use them to their full potential to help those most in need.\nThe time is now to bring the technological revolution to Africa that farmers so desperately need.', 'Data — the very mention conjures dull and dreary images in our minds. Crypto — far more exciting — draws images of the rise-and-fall, of thrilling new advances and a brave new world. And yet, where data meets crypto and the underlying technologies behind it, is where the future lies. The intersection and interplay of data and these new, emerging technologies will revolutionize how farming is done across Africa, and indeed the globe. The time for this revolution is now. Africa still remains a net importer of food despite holding vast areas of arable land and figures show a growing hunger problem as 282 million people are undernourished across the continent, equating to more than one in five people. More specifically, small farms are the dominant form of agriculture, with an estimated 33 million smallholder farms producing around 80% of Sub-Saharan Africa’s food supply, despite being highly susceptible to ongoing weather and market fluctuations. Added to this, almost half the population of Sub-Saharan Africa is unbanked , meaning they lack access to traditional forms of finance, hindering growth and investment. Therein lies the opportunity for farmers. As tech excels and revolutionary technologies such as AI and machine learning advance rapidly, solutions are readily available and ready to implement across the board. Getting the data Generating data is easy, and there is lots of it to be generated. Farmers know better than anyone what is happening on the ground, but reams of data add a new dimension to understanding how their farm operates on a more intricate level. Through introducing the internet of things (IoT) to farming, a farmer’s crops can be embedded with sensors and other technologies to provide real-time, continuous rafts of data, available at all times and with minimal intervention. This can range from monitoring a specific crop’s required fertilizer levels or predicting expected yield at any moment in time, to understanding the conditions that lead to disease or susceptibility to pests. Story continues As the data flows in, we have the tools to analyze it on the go and give farmers data-driven, digestible insights to better understand crop and farm health. AI and machine learning can be taught to read the data and provide farmers with simple actions to ensure better yield, or to mitigate risks associated with largely unpredictable weather patterns. AI and machine learning have revolutionized how data can be utilized and the trajectory shows all signs of continuing. These reams of data, now made accessible through technological advances, continue to drive better farming that will only improve as time moves on. While real-time insights and actions impact farmers on a personal level, vast amounts of data also mean farmers no longer operate in self-contained silos; when a farmer in South America makes progress, their equal in Africa can avail of the learnings. Blockchain too is now being implemented extensively across supply chains as a trusted way of storing data, ensuring immutability for sustainability credentials. In practice, this means any company or individual along the supply chain can check and validate these credentials easily, all the way from farm to fork, with blockchain absolutely guaranteeing the information provided. This promotes not only transparency among all involved parties but also facilitates the storage and collection of reliable data which in turn can feed into more intricate insights. These technologies are relatively inexpensive to implement and, once up and running, cost little to maintain, and the payout is phenomenal. Farmers also have access to all the info they need on their mobile devices, which is paramount in Africa as reports show an average of 84% of the population owned mobile phones across the continent in 2021 (with some countries averaging over 94%). In crypto we talk about interoperability; this is interoperability in practice. Crypto is the key Many have heralded crypto as the force that will reinvent and reestablish how finance is conducted. Maybe, or maybe not, but what we can already see is that crypto offers a system of financial inclusion for those who may be unbanked or marginalized. As so many in Sub-Saharan Africa are unbanked, crypto offers transparent peer-to-peer transactions without the need for an intermediary such as a traditional, centralized financial institution. Crypto holds the key to the vault. Where access to a bank is not possible but a farmer has their mobile phone in their hand, they now have access to financial services. Such is the extent of crypto’s financial offering that we are now seeing life insurance companies with Bitcoin-denominated policies and companies offering loans through crypto . Though in its early stages, industry must now focus its efforts on refining these services to ensure marginalized people in Africa, and further afield, can avail of the everyday services we take for granted in the developed world. The critical juncture Driving digital transformation and socioeconomic advancement is no simple endeavor, but farmers in Africa are at a critical juncture, one that presents a fantastic opportunity to truly revolutionize how farming is done across the continent. Time is of the essence, especially as regulation is imposing stricter controls on products. The European Union’s deforestation regulation was introduced in June, with farmers and traders given 18 months to implement the new rules. This regulation, while timely, heavily impacts coffee and cocoa in particular, two major exports across the continent: almost 70% of the world’s cocoa is produced in Africa and 12% of the world’s coffee. Farmers in Africa, indeed across the globe, have farmed in line with what works best in their environment and with the resources available. Established ways of working, passed down through generations, have ensured farmers could earn a living and feed their families, but legacy obstacles persist in places. Alongside this, we must remember that blockchain, AI and emerging technologies are now coming to the forefront and entering the mainstream psyche. These technologies offer new avenues and systems for farmers across the globe to enhance their work, but we must acknowledge the context in which they exist. Change does not happen overnight. We are now at the critical intersection of these technologies being recognized as revolutionary, while mobile uptake and internet access in marginalized communities means we can actually deliver the technology to farmers. The final obstacle is simply bringing the technology to those who need it as quickly as we can. These emerging technologies are positioned to uniquely solve so many challenges facing farmers across the continent. Through crypto, we can democratize finance and bring financial stability and inclusion to those who have so often been marginalized from the conversation. And through innovative technologies such as blockchain, AI and machine learning, we can truly use them to their full potential to help those most in need. The time is now to bring the technological revolution to Africa that farmers so desperately need.', 'In this article, we will be taking a look at the 25 countries that mine the most Bitcoin. To skip our detailed analysis, you can go directly to see the 5 countries that mine the most Bitcoin . Bitcoin, and bitcoin mining in particular, has been one of the most controversial discussions in the past decade, with arguments ranging from it being the savior of private finance to it being considered one of the biggest scams in history. Regardless of what one may think, and despite volatile fluctuations, Bitcoin started to become mainstream in 2017, 8 years after its creation, when the first Bitcoin bubble resulted in explosive popularity, which in turned led to many people losing their life savings after the crash happened. Amid the Covid-19 pandemic, Bitcoin then reached its best ever run in 2021, with an all-time high of around $68,000 in November 2021, only to crash spectacularly over the next year as well. However, by that point in time, the demand for cryptocurrency, not just limited to Bitcoin, had increased massively, with other cryptocurrencies growing even more and major cryptocurrency exchanges such as Coinbase Global, Inc. (NASDAQ: COIN ) going public in 2021, and is among the best cryptocurrency exchanges and apps in May 2023 . 25 countries that mine the most Bitcoin Companies driving Bitcoin mining For Bitcoin to be created, it has to be mined, a process which has a significant environmental footprint and has been called out for being damaging to the environment. As cryptocurrencies were seeing their values soar, more and more people started to mine Bitcoin due to higher potential margins, especially in the countries that mine the most Bitcoin, and an important component of possessing the firepower needed to be able to mine Bitcoin are graphics cards, which is where NVIDIA Corporation (NASDAQ:NVDA) came in. One of the only companies in the world with a market cap of $1 trillion, it\'s known more for being a top AI company right now, but is also famous among gamers and cryptocurrency miners for its GPUs. With enthusiasm for cryptocurrency declining as the value of top such currencies fell amid scandals including the collapse of FTX (even though it isn\'t among the biggest bankruptcies in American history ) and the collapse of Celsius, there has been some impact on NVIDIA Corporation (NASDAQ:NVDA). However, the cryptocurrency, while still far away from all-time highs, has had a new lease on life in 2023, with Bitcoin\'s value increasing and more people in the countries that mine the most Bitcoin once again increasing their mining operations, and while AI has been the biggest driver of NVIDIA Corporation\'s (NASDAQ:NVDA) more than 200% YTD share price gain, cryptocurrency has played a part. At its peak, the use of GPUs were so in demand, even the SEC took notice with the regulator stating the company “failed to disclose that crypto mining was a significant element of its material revenue growth from the sale of its GPUs designed and marketed for gaming”, and resulted in a $5.5 million fine. Story continues One challenge that companies which produce equipment used in cryptocurrency mining is Ethereum\'s shift form proof of work to proof of stake will significantly reduce mining requirements and hence, a huge part of demand for cryptocurrency will end as the second largest cryptocurrency will no longer require it. Cryptocurrency industry outlook While the top cryptocurrencies have performed brilliantly in the first half of 2023, it is important to remember that Bitcoin and Ethereum, the two biggest cryptocurrencies in the world, are nowhere near their all-time highs, and so far, have been a bit dismal in the second half of 2023 despite a court ruling against the SEC and in favor of the company which made XRP. Recently, another major cryptocurrency called Worldcoin was launched by the CEO of OpenAI, the company responsible for ChatGPT and the project focuses on identifying whether a person online is real or AI, something which is becoming an increasing concern in today\'s world. Meanwhile, though cryptocurrency is currently mainly focused on trading even while providing various applications, it is expected to move more towards nontrading uses as echoed by Coinbase Global, Inc. (NASDAQ:COIN) in its Q2 2023 earnings call "The first 10 years in crypto were primarily about trading, but we\'ve seen our customer base shift its activity over time where the majority of our active customers now do something with crypto other than trading. My belief is that the next 10 years in crypto will become predominantly about nontrading use cases. So, what could some of those be? Well, payments is a big one. As the scalability of blockchain improves by moving to Layer 2 solutions like Lightning, Optimism, and Base, we\'ll see payments emerge as a larger use case. Getting more scalable blockchains will be as important as the internet moving from dial-up to broadband. We\'ll also see the rise of decentralized identity systems with decentralized messaging and social apps that will accompany those connected right into those decentralized identities." Coinbase Global, Inc. (NASDAQ:COIN) has had an excellent performance in the first two quarters, which has led to its share price increasing by 120% YTD. Methodology To determine the countries that mine the most Bitcoin, we referred a study carried out by Cambridge University which shows the percentage share of each country by month. We have considered statistics for both January 2022 and December 2021, and used the average of these rankings to determine our list. 25. Italy Monthly hashrate share in Jan 22: 0.11% Italy has one of the highest prices for Bitcoin mining, which is why miners are considering other countries, and if this continues, Italy will soon drop off our list. 24. Mexico Monthly hashrate share in Jan 22: 0.11% Mexico\'s importance in cryptocurrency mining can be seen by the fact that the World Digital Mining Summit 2022 was held in Cancun where the focus was on proof-of-work power, not to mention exploring additional industry trends. 23. Iran Monthly hashrate share in Jan 22: 0.12% Iran has used Bitcoin mining as a method to evade sanctions, as earnings from cryptocurrencies allow it to spend hundreds of millions of dollars while avoiding embargoes posted by Western nations. 22. Libya Monthly hashrate share in Jan 22: 0.14% Despite being an attractive destination for Bitcoin miners, Libya\'s government has also started imposing crackdowns in the country, with a recent one resulting in dozens of arrests. 21. Paraguay Monthly hashrate share in Jan 22: 0.15% One of the biggest Bitcoin mining countries in South America, Paraguay recently saw Bitfarms, a Bitcoin mining company, expand operations further after it managed to secure two hydropower contracts. 20. Ukraine Monthly hashrate share in Jan 22: 0.15% While Ukraine has benefited massively from cryptocurrency donations in the Russia-Ukraine war, but is likely to drop out of this list as Bitcoin mining operations have been hugely impacted from the war. 19. Netherlands Monthly hashrate share in Jan 22: 0.21% A giant greenhouse in the Netherlands is actually using heat from Bitcoin mining to grow cash crops including tulips, with both ironically being associated with financial bubble at their peak. 18. France Monthly hashrate share in Jan 22: 0.21% One month ago, the first fully-licensed cryptocurrency provider was formed as a subsidiary of Société Générale. 17. Georgia Monthly hashrate share in Jan 22: 0.23% One of the biggest Bitcoin mining companies in the world CleanSpark, Inc. (NASDAQ: CLSK ) is purchasing 2 Georgian facilities for a total of $9.3 million, showcasing Georgia\'s attractiveness to Bitcoin miners. 16. United Kingdom Monthly hashrate share in Jan 22: 0.23% The Department for Environment, Food and Rural Affairs recently gave out a contract to a company which will explore opportunities to carry out Bitcoin mining operations at UK landfill sites. 15. Japan Monthly hashrate share in Jan 22: 0.23% The biggest utility company in Japan, TEPCO, has agreed to mine Bitcoin from the excess energy it generates, partnering with a local semiconductor company in this project. 14. Brazil Monthly hashrate share in Jan 22: 0.33% Brazil is a major advocate of cryptocurrency, and in June 2023, the country\'s central bank provided a payment provider license to Mercado Bitcoin, a cryptocurrency exchange in the country. 13. Indonesia Monthly hashrate share in Jan 22: 0.35% While many countries in our list are clamping down on Bitcoin mining, Indonesia is exploring ways in which Bitcoin adoption will provide benefits to the country, and hence, could likely see Indonesia\'s rank improve in the coming years. 12. Australia Monthly hashrate share in Jan 22: 0.36% An Australian company Arkon Energy raised $22 million in November 2022 to further expand Bitcoin mining operations based on renewable energy, as Bitcoin miners try to shed their image of greatly damaging the environment. 11. Norway Monthly hashrate share in Jan 22: 0.74% There is abundant hydropower in Norway, which has contributed to many cryptocurrency miners forming their base in the Nordic country. 10. Sweden Monthly hashrate share in Jan 22: 0.84% While Sweden is among the countries with the highest Bitcoin mining rates, a major tax hike in 2023 is likely to further impact an already declining industry in the country. 9. Thailand Monthly hashrate share in Jan 22: 0.96% Bitcoin mining has been hampered by actions against miners by authorities across the world and Thailand is no exception, with thousands of cryptocurrency mining rigs seized in late 2022. 8. Ireland Monthly hashrate share in Jan 22: 1.97% The fall in Bitcoin prices has greatly reduced margins for Bitcoin miners especially in Ireland where the cost of mining Bitcoin is especially high. Globally, Bitcoin mining is said to consume more electricity in a year than the entire country of Ireland. 7. Malaysia Monthly hashrate share in Jan 22: 2.51% While Malaysia is a significant contributor to Bitcoin mining, Malaysian police destroyed over 1,000 Bitcoin mining rigs in 2021 with a steamroller, which happened after the miners stole more than $2 million worth of electricity for their mining operations. 6. Germany Monthly hashrate share in Jan 22: 3.06% Germany is considered to be the most crypto-friendly country in Europe and is unsurprisingly among the countries mining the most Bitcoin in the world. Click to continue reading and see the 5 Countries that Mine the Most Bitcoin . Suggested Articles: 25 Biggest Beef Producing Countries in the World 20 States that Produce the Most Craft Beer 12 Best High Risk Penny Stocks to Buy Now Disclosure: None. 25 countries that mine the most Bitcoin is originally published on Insider Monkey. View comments', 'In this article, we will be taking a look at the 25 countries that mine the most Bitcoin. To skip our detailed analysis, you can go directly to see the 5 countries that mine the most Bitcoin . Bitcoin, and bitcoin mining in particular, has been one of the most controversial discussions in the past decade, with arguments ranging from it being the savior of private finance to it being considered one of the biggest scams in history. Regardless of what one may think, and despite volatile fluctuations, Bitcoin started to become mainstream in 2017, 8 years after its creation, when the first Bitcoin bubble resulted in explosive popularity, which in turned led to many people losing their life savings after the crash happened. Amid the Covid-19 pandemic, Bitcoin then reached its best ever run in 2021, with an all-time high of around $68,000 in November 2021, only to crash spectacularly over the next year as well. However, by that point in time, the demand for cryptocurrency, not just limited to Bitcoin, had increased massively, with other cryptocurrencies growing even more and major cryptocurrency exchanges such as Coinbase Global, Inc. (NASDAQ: COIN ) going public in 2021, and is among the best cryptocurrency exchanges and apps in May 2023 . 25 countries that mine the most Bitcoin Companies driving Bitcoin mining For Bitcoin to be created, it has to be mined, a process which has a significant environmental footprint and has been called out for being damaging to the environment. As cryptocurrencies were seeing their values soar, more and more people started to mine Bitcoin due to higher potential margins, especially in the countries that mine the most Bitcoin, and an important component of possessing the firepower needed to be able to mine Bitcoin are graphics cards, which is where NVIDIA Corporation (NASDAQ:NVDA) came in. One of the only companies in the world with a market cap of $1 trillion, it\'s known more for being a top AI company right now, but is also famous among gamers and cryptocurrency miners for its GPUs. With enthusiasm for cryptocurrency declining as the value of top such currencies fell amid scandals including the collapse of FTX (even though it isn\'t among the biggest bankruptcies in American history ) and the collapse of Celsius, there has been some impact on NVIDIA Corporation (NASDAQ:NVDA). However, the cryptocurrency, while still far away from all-time highs, has had a new lease on life in 2023, with Bitcoin\'s value increasing and more people in the countries that mine the most Bitcoin once again increasing their mining operations, and while AI has been the biggest driver of NVIDIA Corporation\'s (NASDAQ:NVDA) more than 200% YTD share price gain, cryptocurrency has played a part. At its peak, the use of GPUs were so in demand, even the SEC took notice with the regulator stating the company “failed to disclose that crypto mining was a significant element of its material revenue growth from the sale of its GPUs designed and marketed for gaming”, and resulted in a $5.5 million fine. Story continues One challenge that companies which produce equipment used in cryptocurrency mining is Ethereum\'s shift form proof of work to proof of stake will significantly reduce mining requirements and hence, a huge part of demand for cryptocurrency will end as the second largest cryptocurrency will no longer require it. Cryptocurrency industry outlook While the top cryptocurrencies have performed brilliantly in the first half of 2023, it is important to remember that Bitcoin and Ethereum, the two biggest cryptocurrencies in the world, are nowhere near their all-time highs, and so far, have been a bit dismal in the second half of 2023 despite a court ruling against the SEC and in favor of the
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-01
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $506,490,941,812
- Hash Rate: 417508504.7894277
- Transaction Count: 419548.0
- Unique Addresses: 769950.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.40
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Stablecoin issuer Tether said that it will discontinue support for Omni, a Bitcoin layer used for USDT transfers since 2014. Tether will also relinquish support for Kusama (KSM) and Bitcoin Cash (BCH) SLP implementations, according to the announcement . Omni is a software layer built on top of the Bitcoin blockchain. It was designed to enhance the features of the Bitcoin blockchain by providing smart contract capabilities. "Over the years, the Omni Layer faced challenges due to the lack of popular tokens and the availability of USDT on other blockchains. This led many exchanges to favor alternative transport layers, leading to a decline in USDT usage on Bitcoin using the Omni Layer," Tether said in the announcement. Tether is the largest stablecoin with a market cap of $82 billion, of which $240 million worth of tokens are issued on the Omni layer while $1.4 million and $980,000 are issued on Kusama and Bitcoin Cash respectively, according to Tether's transparency report . The stablecoin provider will stop issuing USDT on Omni, Kusama and Bitcoin Cash from Aug. 17, while redemptions will continue for the next 12 months. The price of tether has slumped by 0.12% over the past 24 hours as it trades at $0.998, according to CoinDesk data . View comments...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['EDMONTON, Alberta, Sept. 01, 2023 (GLOBE NEWSWIRE) --Bitcoin Well Inc.(“Bitcoin Well” or the “Company”) (TSXV:BTCW; OTCQB:BCNWF), the non-custodial fintech business which future-proofs money by making bitcoin useful to everyday people, is pleased to announce it has closed a non-brokered private placement offering (the “Offering”) of 23,291,985 units of Bitcoin Well (the “Units”) at a price of $0.06 per Unit for aggregate gross proceeds of $1,397,519.24. Each Unit is comprised of one common share in the Company (each, a “Common Share” and collectively “Common Shares”) and one common share purchase warrant (each, a “Warrant” and collectively “Warrants”) exercisable into one Common Share at a price of $0.18 per share for a period of three years from closing.\nThe Offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 –Prospectus Exemptions(the “LIFE Exemption”). Any securities issued under the LIFE Exemption are not subject to a hold period in accordance with applicable Canadian securities laws. The proceeds of the Offering will be used to improve cashflow, pay certain outstanding liabilities and for general working capital purposes. No finder’s fee was paid in connection with the Offering.\nIf, during a period of 10 consecutive trading days between the applicable closing date and the expiry of the Warrants, the daily volume-weighted average trading price of the Common Shares on the TSX Venture Exchange (or such other stock exchange where the majority of the trading volume occurs) exceeds $0.36 for each of those 10 consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders, following which notice the holders of the Warrants will have 30 days to exercise their Warrants.\nPursuant to the Offering, Adam O’Brien acquired control over 2,880,000 Units. Prior to the Offering, Mr. O’Brien exercised control over 81,204,904 Common Shares, representing 46.3% of the issued and outstanding Common Shares on an undiluted basis (47.1% on a partially-diluted basis). Following the Offering, Mr. O’Brien exercises control over 84,084,904 Common Shares, representing 42.3% of the issued and outstanding Common Shares on an undiluted basis (43.9% on a partially-diluted basis). Mr. O’Brien currently does not have any plan to acquire or dispose of additional securities of the Company. However, Mr. O’Brien may acquire additional securities of the Company, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position, depending on market conditions, reformulation of plans or other relevant factors.\nPursuant to the Offering, Terry Rhode acquired control over 9,356,887 Units. Prior to the Offering, Mr. Rhode exercised control over 5,178,000 Common Shares, representing 2.9% of the issued and outstanding Common Shares on an undiluted basis (3.5% on a partially-diluted basis). Following the Offering, Mr. Rhode exercises control over 14,534,887 Common Shares, representing 7.3% of the issued and outstanding Common Shares on an undiluted basis (11.9% on a partially-diluted basis). Mr. Rhode currently does not have any plan to acquire or dispose of additional securities of the Company. However, Mr. Rhode may acquire additional securities of the Company, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position, depending on market conditions, reformulation of plans or other relevant factors.\nThe foregoing disclosure is being disseminated pursuant to National Instrument 62-103 –The Early Warning System and Related Take-Over Bid and Insider Reporting. Copies of the early warning reports with respect to the foregoing will appear on the Company’s SEDAR profile at www.sedarplus.ca and may also be obtained by contacting the Company at 1 888 711 3866 [email protected].\nThe Company further announces that it has entered into amending agreements (“Amending Agreements”) to amend the terms of certain agreements pursuant to which certain insiders and arm’s length parties loaned bitcoin and ETH to the Company in consideration for interest payments at market rates.\nThe Offering and certain of the Amending Agreements are considered related party transactions under Multilateral Instrument 61-101 –Protection of Minority Security Holders in Special Transactions(“MI 61-101”) because of the participation of certain directors and officers of Bitcoin Well. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the Units subscribed for by related parties, the prepaid interest payments to related parties, or the consideration paid therefor does not exceed 25% of the Company’s market capitalization.\nAbout Bitcoin Well\nBitcoin Well is in the business of future-proofing money. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. Our existing Bitcoin ATM business unit drives cash-flow to help fund this mission.\nJoin ourinvestor communityand follow us onNostr,LinkedIn,TwitterandYouTubeto keep up to date with our business.\nBitcoin Well contact information\nTo book a virtual meeting with our Founder & CEO Adam O’Brien please use the following link:https://bitcoinwell.com/meet-adam\nFor additional investor & media information, please contact:Tel: 1 888 711 [email protected]\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\nForward-looking informationCertain statements contained in this news release may constitute forward-looking statements or forward-looking information (collectively, “forward-looking information”). Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions.All statements herein other than statements of historical fact constitute forward-looking information, including but not limited to statements in respect of: final approval of the Offering by the TSX Venture Exchange; and Bitcoin Well’s business plans and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.\nBitcoin Well’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, inability to obtain final TSX Venture Exchange approval, competitive factors in the industries in which Bitcoin Well operates, prevailing economic conditions, and other factors, many of which are beyond the control of Bitcoin Well.\nBitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to becorrectand such forward-looking information should not be unduly relied upon.\nAny forward-looking information contained in this news release represents Bitcoin Well expectations as of the date hereof, and is subject to change after such date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.\nFor more information, see the Cautionary Note Regarding Forward Looking Information found in the Bitcoin Well quarterly Management Discussion and Analysis.', 'EDMONTON, Alberta, Sept. 01, 2023 (GLOBE NEWSWIRE) --Bitcoin Well Inc.(“Bitcoin Well” or the “Company”) (TSXV:BTCW; OTCQB:BCNWF), the non-custodial fintech business which future-proofs money by making bitcoin useful to everyday people, is pleased to announce it has closed a non-brokered private placement offering (the “Offering”) of 23,291,985 units of Bitcoin Well (the “Units”) at a price of $0.06 per Unit for aggregate gross proceeds of $1,397,519.24. Each Unit is comprised of one common share in the Company (each, a “Common Share” and collectively “Common Shares”) and one common share purchase warrant (each, a “Warrant” and collectively “Warrants”) exercisable into one Common Share at a price of $0.18 per share for a period of three years from closing.\nThe Offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 –Prospectus Exemptions(the “LIFE Exemption”). Any securities issued under the LIFE Exemption are not subject to a hold period in accordance with applicable Canadian securities laws. The proceeds of the Offering will be used to improve cashflow, pay certain outstanding liabilities and for general working capital purposes. No finder’s fee was paid in connection with the Offering.\nIf, during a period of 10 consecutive trading days between the applicable closing date and the expiry of the Warrants, the daily volume-weighted average trading price of the Common Shares on the TSX Venture Exchange (or such other stock exchange where the majority of the trading volume occurs) exceeds $0.36 for each of those 10 consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders, following which notice the holders of the Warrants will have 30 days to exercise their Warrants.\nPursuant to the Offering, Adam O’Brien acquired control over 2,880,000 Units. Prior to the Offering, Mr. O’Brien exercised control over 81,204,904 Common Shares, representing 46.3% of the issued and outstanding Common Shares on an undiluted basis (47.1% on a partially-diluted basis). Following the Offering, Mr. O’Brien exercises control over 84,084,904 Common Shares, representing 42.3% of the issued and outstanding Common Shares on an undiluted basis (43.9% on a partially-diluted basis). Mr. O’Brien currently does not have any plan to acquire or dispose of additional securities of the Company. However, Mr. O’Brien may acquire additional securities of the Company, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position, depending on market conditions, reformulation of plans or other relevant factors.\nPursuant to the Offering, Terry Rhode acquired control over 9,356,887 Units. Prior to the Offering, Mr. Rhode exercised control over 5,178,000 Common Shares, representing 2.9% of the issued and outstanding Common Shares on an undiluted basis (3.5% on a partially-diluted basis). Following the Offering, Mr. Rhode exercises control over 14,534,887 Common Shares, representing 7.3% of the issued and outstanding Common Shares on an undiluted basis (11.9% on a partially-diluted basis). Mr. Rhode currently does not have any plan to acquire or dispose of additional securities of the Company. However, Mr. Rhode may acquire additional securities of the Company, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position, depending on market conditions, reformulation of plans or other relevant factors.\nThe foregoing disclosure is being disseminated pursuant to National Instrument 62-103 –The Early Warning System and Related Take-Over Bid and Insider Reporting. Copies of the early warning reports with respect to the foregoing will appear on the Company’s SEDAR profile at www.sedarplus.ca and may also be obtained by contacting the Company at 1 888 711 3866 [email protected].\nThe Company further announces that it has entered into amending agreements (“Amending Agreements”) to amend the terms of certain agreements pursuant to which certain insiders and arm’s length parties loaned bitcoin and ETH to the Company in consideration for interest payments at market rates.\nThe Offering and certain of the Amending Agreements are considered related party transactions under Multilateral Instrument 61-101 –Protection of Minority Security Holders in Special Transactions(“MI 61-101”) because of the participation of certain directors and officers of Bitcoin Well. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the Units subscribed for by related parties, the prepaid interest payments to related parties, or the consideration paid therefor does not exceed 25% of the Company’s market capitalization.\nAbout Bitcoin Well\nBitcoin Well is in the business of future-proofing money. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. Our existing Bitcoin ATM business unit drives cash-flow to help fund this mission.\nJoin ourinvestor communityand follow us onNostr,LinkedIn,TwitterandYouTubeto keep up to date with our business.\nBitcoin Well contact information\nTo book a virtual meeting with our Founder & CEO Adam O’Brien please use the following link:https://bitcoinwell.com/meet-adam\nFor additional investor & media information, please contact:Tel: 1 888 711 [email protected]\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\nForward-looking informationCertain statements contained in this news release may constitute forward-looking statements or forward-looking information (collectively, “forward-looking information”). Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions.All statements herein other than statements of historical fact constitute forward-looking information, including but not limited to statements in respect of: final approval of the Offering by the TSX Venture Exchange; and Bitcoin Well’s business plans and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.\nBitcoin Well’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, inability to obtain final TSX Venture Exchange approval, competitive factors in the industries in which Bitcoin Well operates, prevailing economic conditions, and other factors, many of which are beyond the control of Bitcoin Well.\nBitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to becorrectand such forward-looking information should not be unduly relied upon.\nAny forward-looking information contained in this news release represents Bitcoin Well expectations as of the date hereof, and is subject to change after such date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.\nFor more information, see the Cautionary Note Regarding Forward Looking Information found in the Bitcoin Well quarterly Management Discussion and Analysis.', 'Bitcoin Well EDMONTON, Alberta, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Bitcoin Well Inc. (“ Bitcoin Well ” or the “ Company ”) ( TSXV:BTCW; OTCQB:BCNWF ), the non-custodial fintech business which future-proofs money by making bitcoin useful to everyday people, is pleased to announce it has closed a non-brokered private placement offering (the “ Offering ”) of 23,291,985 units of Bitcoin Well (the “ Units ”) at a price of $0.06 per Unit for aggregate gross proceeds of $1,397,519.24. Each Unit is comprised of one common share in the Company (each, a “ Common Share ” and collectively “ Common Shares ”) and one common share purchase warrant (each, a “ Warrant ” and collectively “ Warrants ”) exercisable into one Common Share at a price of $0.18 per share for a period of three years from closing. The Offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (the “ LIFE Exemption ”). Any securities issued under the LIFE Exemption are not subject to a hold period in accordance with applicable Canadian securities laws. The proceeds of the Offering will be used to improve cashflow, pay certain outstanding liabilities and for general working capital purposes. No finder’s fee was paid in connection with the Offering. If, during a period of 10 consecutive trading days between the applicable closing date and the expiry of the Warrants, the daily volume-weighted average trading price of the Common Shares on the TSX Venture Exchange (or such other stock exchange where the majority of the trading volume occurs) exceeds $0.36 for each of those 10 consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders, following which notice the holders of the Warrants will have 30 days to exercise their Warrants. Pursuant to the Offering, Adam O’Brien acquired control over 2,880,000 Units. Prior to the Offering, Mr. O’Brien exercised control over 81,204,904 Common Shares, representing 46.3% of the issued and outstanding Common Shares on an undiluted basis (47.1% on a partially-diluted basis). Following the Offering, Mr. O’Brien exercises control over 84,084,904 Common Shares, representing 42.3% of the issued and outstanding Common Shares on an undiluted basis (43.9% on a partially-diluted basis). Mr. O’Brien currently does not have any plan to acquire or dispose of additional securities of the Company. However, Mr. O’Brien may acquire additional securities of the Company, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position, depending on market conditions, reformulation of plans or other relevant factors. Story continues Pursuant to the Offering, Terry Rhode acquired control over 9,356,887 Units. Prior to the Offering, Mr. Rhode exercised control over 5,178,000 Common Shares, representing 2.9% of the issued and outstanding Common Shares on an undiluted basis (3.5% on a partially-diluted basis). Following the Offering, Mr. Rhode exercises control over 14,534,887 Common Shares, representing 7.3% of the issued and outstanding Common Shares on an undiluted basis (11.9% on a partially-diluted basis). Mr. Rhode currently does not have any plan to acquire or dispose of additional securities of the Company. However, Mr. Rhode may acquire additional securities of the Company, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position, depending on market conditions, reformulation of plans or other relevant factors. The foregoing disclosure is being disseminated pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting . Copies of the early warning reports with respect to the foregoing will appear on the Company’s SEDAR profile at www.sedarplus.ca and may also be obtained by contacting the Company at 1 888 711 3866 or [email protected] . The Company further announces that it has entered into amending agreements (“ Amending Agreements ”) to amend the terms of certain agreements pursuant to which certain insiders and arm’s length parties loaned bitcoin and ETH to the Company in consideration for interest payments at market rates. The Offering and certain of the Amending Agreements are considered related party transactions under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”) because of the participation of certain directors and officers of Bitcoin Well. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the Units subscribed for by related parties, the prepaid interest payments to related parties, or the consideration paid therefor does not exceed 25% of the Company’s market capitalization. About Bitcoin Well Bitcoin Well is in the business of future-proofing money. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. Our existing Bitcoin ATM business unit drives cash-flow to help fund this mission. Join our investor community and follow us on Nostr , LinkedIn , Twitter and YouTube to keep up to date with our business. Bitcoin Well contact information To book a virtual meeting with our Founder & CEO Adam O’Brien please use the following link: https://bitcoinwell.com/meet-adam For additional investor & media information, please contact: Tel: 1 888 711 3866 [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release . Forward-looking information Certain statements contained in this news release may constitute forward-looking statements or forward-looking information (collectively, “forward-looking information”). Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information, including but not limited to statements in respect of: final approval of the Offering by the TSX Venture Exchange; and Bitcoin Well’s business plans and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Bitcoin Well’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, inability to obtain final TSX Venture Exchange approval, competitive factors in the industries in which Bitcoin Well operates, prevailing economic conditions, and other factors, many of which are beyond the control of Bitcoin Well. Bitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well expectations as of the date hereof, and is subject to change after such date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. For more information, see the Cautionary Note Regarding Forward Looking Information found in the Bitcoin Well quarterly Management Discussion and Analysis. View comments', 'US Federal Reserve Chair Jerome Powell attends a press conference in Washington, DC, on March 22, 2023. Liu Jie/Xinhua via Getty Images Stocks were mostly higher on Friday with major indexes notching a weekly gain. Jobs data showed the labor market cooling and wage growth slowing. The report was a sign that the economy is cooling, giving the Fed room back off its aggressive monetary policy. US stocks were mostly higher on Friday, ending the week with gains as investors digested the latest employment report for August. Nonfarm payrolls showed employers add 187,000 jobs in August. While that was above economists\' estimates of 170,000, the report also showed wage growth slowed during the month and the unemployment rate rose to 3.8% from July\'s 3.5%. The report was a clear indicator of a cooling labor market, something the Federal Reserve wants to see to know that interest rate hikes are working and inflation is coming back into line with its target. After the employment report was published, fed fund futures show investors see a 93% chance that interest rates remain unchanged at this month\'s Fed policy meeting, and that the benchmark rate will likely stay in the current 5.25%-5.50% range through the end of the year. "If the economy can continue to expand and the labor market can cool at a slow pace, rather than at a rapid clip, then the Fed can afford to leave rates where they are and patiently wait for (current) higher rates to do their work," Chris Zaccarelli said in a statement. Though trades were lower for the day, each major index gained through August\'s closing week. The tech-heavy Nasdaq gained about 3%, followed by the S&P at 2% and Dow at 1%. Here\'s where US indexes stood shortly after the 4:00 p.m. closing bell on Friday: S&P 500 : 4,515.77, up 0.18% Dow Jones Industrial Average : 34,838.01, up 0.33% (+116.10 points) Nasdaq Composite : 14,031.81, down 0.02% Here\'s what else is going on: Bitcoin fell for its second month in August as crypto was not spared in the market sell off. Housing market priorities have shifted away from location — Here\'s what renters and buyers want in a new home . 10 year T-bills are headed for their third consecutive year of loss. This hasn\'t happened since 1787 . David Rosenberg says that the US will fall into a recession in six months. Europe\'s top copper producer lost hundreds of millions in a scrap metal scrap. Story continues In commodities, bonds, and crypto: Oil prices gained. West Texas Intermediate climbed 2.7% to $85.89 a barrel. Brent crude , the international benchmark, was up 2.3% to $88.80 a barrel. Gold edged up 0.05% to $1,966.90 per ounce. The 10-year Treasury yield shot up nine basis points to 4.181%. Bitcoin slid 1.19% to $25,627. Read the original article on Business Insider', '• Stocks were mostly higher on Friday with major indexes notching a weekly gain.\n• Jobs data showed the labor market cooling and wage growth slowing.\n• The report was a sign that the economy is cooling, giving the Fed room back off its aggressive monetary policy.\nUS stocks were mostly higher on Friday, ending the week with gains as investors digested the latest employment report for August.\nNonfarm payrolls showed employers add 187,000 jobs in August. While that was above economists\' estimates of 170,000, the report also showed wage growth slowed during the month and the unemployment rate rose to 3.8% from July\'s 3.5%.\nThe report was a clear indicator of a cooling labor market, something the Federal Reserve wants to see to know that interest rate hikes are working and inflation is coming back into line with its target.\nAfter the employment report was published, fed fund futures show investors see a93% chancethat interest rates remain unchanged at this month\'s Fed policy meeting, and that the benchmark rate will likely stay in the current 5.25%-5.50% range through the end of the year.\n"If the economy can continue to expand and the labor market can cool at a slow pace, rather than at a rapid clip, then the Fed can afford to leave rates where they are and patiently wait for (current) higher rates to do their work," Chris Zaccarelli said in a statement.\nThough trades were lower for the day, each major index gained through August\'s closing week. The tech-heavy Nasdaq gained about 3%, followed by the S&P at 2% and Dow at 1%.\nHere\'s where US indexes stood shortly after the 4:00 p.m. closing bell on Friday:\n• S&P 500: 4,515.77, up 0.18%\n• Dow Jones Industrial Average: 34,838.01, up 0.33% (+116.10 points)\n• Nasdaq Composite: 14,031.81, down 0.02%\nHere\'s what else is going on:\n• Bitcoin fell for its second monthin August as crypto was not spared in the market sell off.\n• Housing market priorities have shifted away from location —Here\'s what renters and buyers want in a new home.\n• 10 year T-bills are headed for their third consecutive year of loss. Thishasn\'t happened since 1787.\n• David Rosenberg says that theUS will fall into a recessionin six months.\n• Europe\'s top copper producerlost hundreds of millionsin a scrap metal scrap.\nIn commodities, bonds, and crypto:\n• Oil prices gained.West Texas Intermediateclimbed 2.7% to $85.89 a barrel.Brent crude, the international benchmark, was up 2.3% to $88.80 a barrel.\n• Goldedged up 0.05% to $1,966.90 per ounce.\n• The10-year Treasury yieldshot up nine basis points to 4.181%.\n• Bitcoinslid 1.19% to $25,627.\nRead the original article onBusiness Insider', "Only 7% of traders are anticipating an interest rate hike at the Federal Reserve’s September meeting in the wake of inflation data this past week that met economist expectations and an August jobs report that reflects a growing equilibrium of supply and demandin the labor market.\nThe personal consumption expenditures index, the Fed’s preferred inflation gauge, increased 3.3% year-over-year in July andmatched economist projections Thursday. The August jobs report released Friday shows nonfarm payroll growth of 187,000 jobs, topping projections of 170,000. At the same time, unemployment ticked higher from 3.5% to 3.8% in August and job openings fell to 8.8 million.\nNinety-three percent of investors are expecting the Fed to hold steady on interest rates in September and 59.1% expect rates to stay the same in November as of midday Friday, according to CME Group’s FedWatch tool.\nA federal appeals court vacated the Securities and Exchange Commission’s rejection of an application by Grayscale Investments to convert its Bitcoin Trust into a spot ETF on Tuesday,ordering a new review of the application. Grayscale first applied for the ETF conversion, which would simplify and mainstream Bitcoin investing, in October 2021.\nGrayscale is one of many institutions — including BlackRock, Fidelity, WisdomTree, VanEck, Bitwise and Invesco — that has applied for a Bitcoin ETF. The court order sent Bitcoin rocketing higher. On Thursday, the SEC postponed its decision on Bitcoin ETF applications from a handful of companiesinto October.\nOn Tuesday, the Department of Health and Human Services sent a recommendation to the Drug Enforcement Administration suggesting that cannabis be moved from its current Schedule I drug classification, which groups it with substances like heroin deemed to have no medical benefit, to a Schedule III drug,the same class as ketamine.\nThe landmark recommendation sent cannabis stocks soaring higher on the possibility of relaxed federal marijuana regulations. The AdvisorShares Pure US Cannabis ETF was the top-performing ETF in August coming off the regulatory news,gaining more than 20%.\nThe markets will be closed Monday for Labor Day. In the holiday-shortened trading week, investors will be watching for the release of the Fed’s Beige Book on Wednesday on the economic front.\nAs the second-quarter earnings season winds down, artificial intelligence stock C3.ai is expected to report Wednesday, along with retail trader favorite GameStop. DocuSign is set to report earnings Thursday and grocer Kroger is to report on Friday.\nMore:IRS flagged these tax returns for ID theft and 2.5 million people just didn't respond\nMore:In odd twist, IRS reveals: Employers can help pay down student loan debt, tax-free\nBenzinga is a financial news and data company headquartered in Detroit.\nThis article originally appeared on Detroit Free Press:Investors: Fed not likely to raise interest rate this month", "This article was originally published on ETFTrends.com. The BRICS nations are coming of age. At its annual summit in Johannesburg last week, the bloc of five emerging countries\x97Brazil, Russia, India, China and South Africa\x97announced plans to expand for the first time since 2010. On January 1, 2024, the BRICS will welcome six new members: Saudi Arabia, Argentina, Egypt, Ethiopia, Iran and the United Arab Emirates (UAE). BRICS Invites New Members The expansion will further establish the group as a counterbalance to the G7\x92s global influence, catapulting BRICS\x92 share of global GDP to 36% as well as covering nearly half of the world\x92s population. With dozens more nations expressing interest in joining the bloc, the BRICS are clearly positioning themselves for a multipolar world, one that is not dominated by the U.S. and other members of the West. I expect the BRICS\x92 rise to create both opportunities and challenges for investors. Understanding the geopolitical, economic and regulatory landscape will be critical for navigating this environment successfully. The Dollar\x92s Dominance Challenged Perhaps most notably, Russian President Vladimir Putin\x97speaking remotely due to an International Criminal Court (ICC) arrest warrant for alleged war crimes\x97discussed the BRICS\x92 push to conduct trade in local currencies instead of the U.S. dollar, a move that would significantly reconfigure global trade dynamics . Currencies as a Percent of Total Global Foreign Reserves Since the Bretton Woods Conference in 1944, the dollar\x92s status as the world\x92s primary reserve currency has offered the U.S. tremendous benefits such as cheaper financing and unparalleled leverage in the form of financial sanctions. But now, with BRICS nations seeking an alternative to the greenback (and growing their ranks from five members to 11), the currency landscape may see a new major tectonic shift, contributing to greater volatility in the Treasury market, exchange rates, inflation and more. At the heart of this strategy lies the New Development Bank (NDB). Story continues Established in 2015 as an alternative to Western lenders such as the World Bank and International Monetary Fund (IMF), the NDB has been making waves. Its recent decision to release an Indian rupee bond and to consider local currency bonds in other countries reflects its intent to diversify away from the dollar. Former Brazilian leader and NDB\x92s current president, Dilma Rousseff, shared the bank\x92s ambitious plans to lend between $8 billion and $10 billion this year, with approximately 30% of the lending in local currencies . The U.S.-based financial system is \x93going to be substituted by a more multipolar system,\x94 Rousseff told the Financial Times. My own opinion is that the U.S. dollar will not be completely dethroned as a reserve currency, though we may end up seeing it share the stage more prominently with the euro, Chinese yuan, Bitcoin or some other currency. In their current roster, the BRICS represent over 32% of the world\x92s GDP , which is slightly more than the G7\x92s 30%; however, GDP per capita, an indicator of economic prosperity, remains a gap that the BRICS must bridge. BRICS Nations Still Trail G7 in Per-Capita GDP As the BRICS nations evolve and expand their influence, a more diversified global governance is inevitable. The current trajectory promises a world where traditional powerhouses, including the U.S. and European Union (EU), must adapt to new realities. As an investor and an observer, staying nimble will be paramount. The Impact Of Rising U.S. Treasury Yields Also shaping the market right now are rising U.S. Treasury yields. As these yields surge due to stronger-than-expected economic growth and the Federal Reserve\x92s tightening policies, risk-on assets, from stocks to Bitcoin, are feeling the heat. Over the past 30 days, the 10-year Treasury yield has risen some 9.4% while the S&P 500 and Bitcoin have lost 3.5% and 10.8%, respectively. Bitcoin, in fact, has fallen into the most extreme oversold territory since last summer\x92s crypto winter, triggered by the failures of crypto firms Celsius, Three Arrows Capital and Voyager. Bitcoin Most Oversold Since Last Summer's Crypto Winter With Jerome Powell asserting at Friday\x92s Jackson Hole summit that it may be appropriate to hike rates further to combat inflation, investor focus could be shifting toward sectors less reliant on borrowing, like utilities and consumer staples. Still, many remain optimistic about the resilience of equities, especially in the context of a robust U.S. economy. The standout exception to struggling equities, of course, has been artificial intelligence (AI) stocks in general and NVIDIA specifically. For the 12-month, year-to-date, three-month and five-day periods, the Santa Clara-based graphics processing unit (GPU) maker remains the top-performing S&P 500 stock by far as investors scramble to get exposure to companies involved in AI . Gold\x92s Enduring Luster In the midst of all this, gold continues its role as a stable store of value. Despite challenges like rising yields, my sentiment around gold remains bullish. Its current trading levels, though down from their peak, still indicate strong investor interest. I\x92m also bullish on gold mining stocks, though I must urge investors to focus on high-quality, well-managed companies with strong balance sheets. One of our favorite metrics when picking gold mining stocks is free cash flow (FCF) yield, which tells you how much free cash flow a company has relative to its market capitalization. Because explorers and producers have high operational costs and capital-intensive requirements, it\x92s important that they maintain healthy balance sheets. Last month, I shared with you the top 10 gold mining stocks ranked by FCF yield, using data from the March quarter. In the chart below, I\x92ve updated the list for the quarter ended June 30. Gold Mining Stocks with the Highest Free Cash Flow Yields Leading the pack with a FCF yield of 15.3% is Australia-based Perseus Mining, which operates three gold mines in Africa. The company reported a strong June quarter in terms of cash generation, with a net increase of $51 million in its overall cash position, taking into account cash, bullion and interest-bearing debt. At quarter-end, Perseus held $484 million in cash and physical gold, against a market cap of approximately $1.5 billion. Watch our video on six incredible uses of gold\x97 click here! All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. By clicking the link(s) above, you will be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content. The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. Purchasing power parity is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries\x92 currencies. Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of (06/30/2023):\xa0Perseus Mining Ltd., Northam Platinum Holdings Ltd., Dundee Precious Metals Inc., Lundin Gold Inc., Emerald Resources NL, West African Resources Ltd., Impala Platinum Holdings Ltd., African Rainbow Minerals Ltd. Originally published by U.S. Global Investors on August 28, 2023. For more news, information, and analysis, visit VettaFi\xa0|\xa0ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs The Growing Role Of BRICS On The World Stage This Week in ETFs: Invesco Makes Changes to 35 Funds VettaFi Voices On: The Odds of Avoiding a Recession Innovator Lists September Buffer ETF AllianzIM Launches September Buffered ETFs READ MORE AT ETFTRENDS.COM >", 'This article was originally published onETFTrends.com.\nThe BRICS nations are coming of age.\nAt its annual summit in Johannesburg last week, the bloc of five emerging countries—Brazil, Russia, India, China and South Africa—announced plans to expand for the first time since 2010. On January 1, 2024, the BRICS will welcome six new members: Saudi Arabia, Argentina, Egypt, Ethiopia, Iran and the United Arab Emirates (UAE).\nThe expansion will further establish the group as a counterbalance to the G7’s global influence, catapulting BRICS’ share of global GDP to 36% as well as covering nearly half of the world’s population. With dozens more nations expressing interest in joining the bloc, the BRICS are clearly positioning themselves for a multipolar world, one that is not dominated by the U.S. and other members of the West.\nI expect the BRICS’ rise to create both opportunities and challenges for investors. Understanding the geopolitical, economic and regulatory landscape will be critical for navigating this environment successfully.\nPerhaps most notably, Russian President Vladimir Putin—speaking remotely due to an International Criminal Court (ICC) arrest warrant for alleged war crimes—discussed the BRICS’ push to conduct trade in local currencies instead of the U.S. dollar, a move that would significantlyreconfigure global trade dynamics.\nSince the Bretton Woods Conference in 1944, the dollar’s status as the world’s primary reserve currency has offered the U.S. tremendous benefits such as cheaper financing and unparalleled leverage in the form of financial sanctions. But now, with BRICS nations seeking an alternative to the greenback (and growing their ranks from five members to 11), the currency landscape may see a new major tectonic shift, contributing to greater volatility in the Treasury market, exchange rates, inflation and more.\nAt the heart of this strategy lies the New Development Bank (NDB).\nEstablished in 2015 as an alternative to Western lenders such as the World Bank and International Monetary Fund (IMF), the NDB has been making waves. Its recent decision to release anIndian rupee bondand to consider local currency bonds in other countries reflects its intent to diversify away from the dollar.\nFormer Brazilian leader and NDB’s current president, Dilma Rousseff, shared the bank’s ambitious plans to lend between $8 billion and $10 billion this year, with approximately30% of the lending in local currencies.The U.S.-based financial system is “going to be substituted by a more multipolar system,” Rousseff told the Financial Times.\nMy own opinion is that the U.S. dollar will not be completely dethroned as a reserve currency, though we may end up seeing it share the stage more prominently with the euro, Chinese yuan, Bitcoin or some other currency. In their current roster, the BRICS represent over32% of the world’s GDP,which is slightly more than the G7’s 30%; however, GDPper capita,an indicator of economic prosperity, remains a gap that the BRICS must bridge.\nAs the BRICS nations evolve and expand their influence, a more diversified global governance is inevitable. The current trajectory promises a world where traditional powerhouses, including the U.S. and European Union (EU), must adapt to new realities.\nAs an investor and an observer, staying nimble will be paramount.\nAlso shaping the market right now are rising U.S. Treasury yields. As these yields surge due to stronger-than-expected economic growth and the Federal Reserve’s tightening policies, risk-on assets, from stocks to Bitcoin, are feeling the heat. Over the past 30 days, the 10-year Treasury yield has risen some 9.4% while the S&P 500 and Bitcoin have lost 3.5% and 10.8%, respectively. Bitcoin, in fact, has fallen into the most extreme oversold territory since last summer’s crypto winter, triggered by the failures of crypto firms Celsius, Three Arrows Capital and Voyager.\nWith Jerome Powell asserting at Friday’s Jackson Hole summit that it may be appropriate to hike rates further to combat inflation, investor focus could be shifting toward sectors less reliant on borrowing, like utilities and consumer staples. Still, many remain optimistic about the resilience of equities, especially in the context of a robust U.S. economy.\nThe standout exception to struggling equities, of course, has been artificial intelligence (AI) stocks in general and NVIDIA specifically. For the 12-month, year-to-date, three-month and five-day periods, the Santa Clara-based graphics processing unit (GPU) maker remains the top-performing S&P 500 stock by far as investors scramble to get exposure tocompanies involved in AI.\nIn the midst of all this, gold continues its role as a stable store of value. Despite challenges like rising yields, my sentiment around gold remains bullish. Its current trading levels, though down from their peak, still indicate strong investor interest.\nI’m also bullish on gold mining stocks, though I must urge investors to focus on high-quality, well-managed companies with strong balance sheets.\nOne of our favorite metrics when picking gold mining stocks is free cash flow (FCF) yield, which tells you how much free cash flow a company has relative to its market capitalization. Because explorers and producers have high operational costs and capital-intensive requirements, it’s important that they maintain healthy balance sheets.\nLast month, I shared with you thetop 10 gold mining stocksranked by FCF yield, using data from the March quarter. In the chart below, I’ve updated the list for the quarter ended June 30.\nLeading the pack with a FCF yield of 15.3% is Australia-based Perseus Mining, which operates three gold mines in Africa. The company reported a strong June quarter in terms of cash generation, with a net increase of $51 million in its overall cash position, taking into account cash, bullion and interest-bearing debt. At quarter-end, Perseus held $484 million in cash and physical gold, against a market cap of approximately $1.5 billion.\nWatch our video on six incredible uses of gold—click here!\nAll opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. By clicking the link(s) above, you will be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content.\nThe S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. Purchasing power parity is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries’ currencies.\nHoldings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of (06/30/2023):\xa0Perseus Mining Ltd., Northam Platinum Holdings Ltd., Dundee Precious Metals Inc., Lundin Gold Inc., Emerald Resources NL, West African Resources Ltd., Impala Platinum Holdings Ltd., African Rainbow Minerals Ltd.\nOriginallypublishedby U.S. Global Investors on August 28, 2023.\nFor more news, information, and analysis, visitVettaFi\xa0|\xa0ETF Trends.\nPOPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM\n• SPY ETF Quote\n• VOO ETF Quote\n• QQQ ETF Quote\n• VTI ETF Quote\n• JNUG ETF Quote\n• Top 34 Gold ETFs\n• Top 34 Oil ETFs\n• Top 57 Financials ETFs\n• The Growing Role Of BRICS On The World Stage\n• This Week in ETFs: Invesco Makes Changes to 35 Funds\n• VettaFi Voices On: The Odds of Avoiding a Recession\n• Innovator Lists September Buffer ETF\n• AllianzIM Launches September Buffered ETFs\nREAD MORE AT ETFTRENDS.COM >', 'Welcome, folks, to Week in Review (WiR), TechCrunch\'s newsletter that recaps the major happenings in tech over the past few days. If you\'ve been too slammed to follow the developments play-by-play, you\'ve come to the right place. That\'s what WiR is for. In this edition of WiR, we cover Teamshares, a New York–based VC-backed startup quietly buying mom-and-pop shops; Zepto, which became India\'s first unicorn of 2023; OpenAI, which is launching a ChatGPT for enterprise customers; and Google, which is unveiling BigQuery Studio, a "new way" to work with data. We also highlight Apple\'s upcoming press conference, where it\'s expected to announce the iPhone 15, as well as new travel-friendly features in Google Flights, a Brazilian phone spyware being hacked, and more. If you haven’t already, sign up here to get WiR in your inbox every Saturday. Now, without further ado, here’s the week’s news! Most read There goes the neighborhood: Teamshares has big ambitions to capitalize on an opportunity in plain sight: that of small businesses without a succession plan. Though Teamshares says that it sometimes pays below market price for a company, it installs a new president and grants 10% of the business’s stock to its employees. A ccording to co-founder and CEO Michael Brown, the plan instead is to generate revenue from a growing array of fintech products that it sells to the businesses it buys. A newly minted unicorn: Instant grocery delivery startup Zepto has raised $200 million in a new funding round at a valuation of $1.4 billion, it said Friday, at a time when most other firms in the category have either died or are struggling. Zepto, which sells and delivers everything from grocery items to electronic gadgets, processes over 300,000 orders a day in seven Indian cities. The company plans to IPO in 2025. ChatGPT comes to the enterprise: Seek
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-02
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $504,446,840,244
- Hash Rate: 420273461.77478814
- Transaction Count: 539748.0
- Unique Addresses: 774348.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.39
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2023 in New York City. Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2023 in New York City. Spencer Platt/Getty Images US stocks traded mixed Friday, with the Dow capping off a 10-day winning streak. It's the longest run of gains for the index since August 2017. Next week investors will be watching big earnings from Microsoft and Meta, as well as a Fed meeting. US stocks traded mixed on Friday, with the Dow Jones Industrial Average eking out a gain to cap off a 10-day winning streak, its longest stretch in the green since August 2017. To close the week, American Express, oil firm Schlumberger, and advertising company Interpublic Group all reported earnings. More than 70% of the companies that have reported so far have beat expectations, according to FactSet data. Meanwhile, investors will be watching to see what policymakers announce at next week's Federal Reserve meeting. Many strategists expect a 0.25% interest rate hike, following last month's "skip." A quarter-point hike to the 5.25%-5.50% range would "more than likely mark the end of a historic tightening cycle," EY Chief Economist Gregory Daco wrote in a note Friday. "But those expecting a fanfare will be disappointed as the Fed will make every (too many) efforts to sound as hawkish as tolerable for financial markets, to avoid an undesired easing of financial conditions." Here's where US indexes stood as the market closed 4:00 p.m. on Friday: S&P 500 : 4,536.32, up 0.03% Dow Jones Industrial Average : 35,228.48, up 0.01% (3.30 points) Nasdaq Composite : 14,032.81, down 0.22% Here's what else is going on: One of Wall Street's favorite chipmakers has seen its value tumble this week. There are three ways the Barbie movie could drive upside for Mattel stock. Robert Shiller says the decade-long rally in home prices could end when the Fed stops its hiking cycle. There are signs that housing could see some good news on the horizon. These indicators suggest the stock market isn't as stretched as it might seem. 'Shark Tank' star Kevin O'Leary sounded off on Bidenomics and the S&P 500. Story continues In commodities, bonds, and crypto: Oil prices climbed, with West Texas Intermediate up 1.7% to $76.92 a barrel. Brent crude , the international benchmark, inched higher 1.6% to $80.88 a barrel. Gold edged lower 0.3% to $1,964.20 per ounce. The 10-year Treasury yield dipped one basis points to 3.835% Bitcoin moved higher 0.48% to $29,865.73 Read the original article on Business Insider...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['The team in bright orange, a skull and crossbones on their chests, walked onto the field of play, their anthem\xa0 —“Know Your Enemy”by U.S. rap metal band Rage Against the Machine — drowning out the cheers of the 150 or so fans in attendance.\nIt was a suitably rock-n-roll start to a first round cup game for Real Bedford, the world’s first Bitcoin-funded football team. The club, based in Bedford, a market town with a population of 170,000 in Bedfordshire, England, is the passion project of local owner and Bitcoin evangelist Peter McCormack.\nThe host of the “What Bitcoin Did” podcast — a Bitcoin-based current affairs show that positions the cryptocurrency as a remedy for socioeconomic issues such as rising inflation and state debt — spoke animatedly on the day of the match about the changes the club has seen under his ownership, and the role that Bitcoin has played in it.\n“Teams should care about something,” he said. “Every club has a history of where it came from. It’s usually the community they were in.” His ownership has brought with it the international reach and decentralized philosophy of Bitcoin — a “global community that cares about hard working people not having the fruits of their labor debased by government mismanagement of money,” he added.\nBut financial reliance on a cryptocurrency brings with it certain complications — including market volatility and industry implosions beyond the Real Bedford owner’s control.\nMcCormack completed the purchase of Real Bedford — a South Midlands Division One side then known as Bedford FC — in April 2022 on the back of various business ventures linked to Bitcoin. He said at the time of the takeover that, with Bitcoin-backed financing, he wants to put the club in a position to rise nine tiers to the Premier League — the pinnacle of English football.\nHe started the process of buying the club in December 2021, near the peak of the last crypto bull market. But in March 2022, the U.S. Federal Reserve began raising interest rates. Then in May that year, stablecoin platform Terra-Luna collapsed, followed by the FTX cryptocurrency exchange in November. A bear market mentality settled over the crypto industry as investors shied away from riskier assets, including Bitcoin. Prices dropped, while over US$2 trillion was wiped off the wider market.\nFrom a high of almost US$70,000, Bitcoin’s price plummeted to less than US$16,000 by the end of 2022. While it recovered some of that ground to trade within the US$26,000 range as of early September, analysts expect macroeconomic concerns to continue to weigh on the token’s price — at least in the short term.\n“The main headwind for crypto is rising real interest rates,” said Samuel Lee, founder of U.S.-based SVRN Asset Management, an investment advisory firm. “It’s unlikely we’ll see a sustained resurgence until interest rates drop back down again and people forget about the trauma and folly of the last bubble.”\nCould an extended period of crypto winter combined with further declines in the price of Bitcoin impact Real Bedford?\n“That doesn’t worry me because I fundamentally believe there’s a far higher chance of the pound failing than Bitcoin,” McCormack said. “I think a more important question is: is the club sustainable if we don’t keep winning?”\nAs the referee blew his whistle for the start of last week’s game at McMullen Park, the realities of ninth-tier English football set in. With the music off, the fans quietened down, their cheers replaced by the sound of the wind blowing through the trees lining the ground and a motorway running opposite. It was a long way from the glamor of the Premier League.\n“Bedford isn’t really known for anything,” said McCormack, 44, who has lived in the town most of his life. “If a tourist comes to the U.K., most people go to London or Manchester or Bath. There’s no reason to come to Bedford.”\nMark Anderson, a local software engineer who volunteers at the club on Saturdays, was more direct. “Bedfordshire is basically the arse-end of the nice bits,” he said, referring to the county’s location north of Greater London on the periphery of some of Britain’s most desirable real estate.\nBut it is McCormack’s connection to the local area, the Real Bedford owner said, that gives him an advantage over other sporting ownership models backed by digital assets.\n“This has meaning to me because it’s my town,” he said. “It’s the most important thing I’m doing. The town of Bedford should have a team in the Football League.”\nHe pointed to fourth-tier English football team Crawley Town —boughtby U.S. crypto consortium WAGMI United in April 2022 — as an example of an ownership model without a link to the local community. WAGMI, like McCormack, promised to take the club to the pinnacle of English football. But rather than Bitcoin, they planned to use sales of non-fungible tokens (NFTs) to build Crawley’s brand and establish an international fan base.\nThe project got off to a promising start, earning £3.5 million (US$4.4 million) from its first NFT drop. But against the backdrop of last year’s turbulence in the crypto market, the new owners became increasingly involved in day-to-day footballing operations — including abrief stinton the coach’s bench for co-owner Preston Johnson. The club went into a tailspin, suffering itsworst finishin twelve years in the football league and narrowly avoiding relegation.\nWhile WAGMI United didn’t respond to a request for comment, Reuben Watt, Chair of the Crawley Town Supporters Alliance, said that by the end of last season, confidence in the group’s ownership was at an “all-time low.” He worried that the owners had consistently focused on pleasing NFT holders over local fans.\nConcern among fans appears to have sunk in. WAGMIappointed Sam Jordan, a member of the Supporter’s Alliance, to the board of directors in August.\n“I think the appointment of Sam to the club’s board is a huge turning point for the club,” said Watt. “Had WAGMI got in someone with knowledge of English football straight away and put a fan on the board, then we would’ve been in a better situation.”\nMcCormack didn’t hold back in his criticism of the Crawley owners. “I think they bought it as a toy,” he said. “They bought a toy under the hype, probably watched a bunch of Ted Lasso and got excited. They’ve done a terrible job.”\nHe also identified issues with the WAGMI group’s association with crypto assets like meme coins and NFTs — which are fundamentally different, he said, to Bitcoin — as another flaw in its business model.\n“They basically want to just get people to buy crap that will lose value — which has been proven historically — whereas for us, Bitcoin is a monetary asset,” he said.\n“This war we see between Bitcoin and crypto is reflected in the ethos of how we run our clubs. Bitcoin is in our DNA, but we’re also about building that feeling around the town that this is a community thing,” he added.\nLast season, Real Bedford won its division at a canter, earning promotion to the South Midlands Premier Division. Much of the financing behind that run came from large-scale sponsorship. The club has partnership agreements with a host of Bitcoin companies, including Iris Energy, a sustainable Bitcoin mining firm; Galaxy, a crypto firm dealing in corporate finance; and Gemini, a cryptocurrency exchange.\nAccording to the club’srecords, sponsorship provided £387,900 (US$491,000) out of the club’s £549,507 (US$696,000) revenue in the 22/23 season — a significant amount given that ninth-tier clubs typically only have sponsorship deals in the four to five figure range.\nThe revenue brought in through tie-ups with the likes of Gemini — who, according to a spokesperson, view the Real Bedford partnership as a form of Bitcoin-backed community building — allows the club to make improvements to its facilities and player welfare in a way unmatched by the league’s other teams.\nAnd while the sponsorship revenue gives the club a huge advantage in its ability to attract players, the Bitcoin connection also acts as a magnet for attracting supporters from further afield — football fans who may not otherwise have chosen Bedford as a place to spend their Saturday afternoons.\n“Over the last year, over 100 people have come in from other countries to watch the games here,” McCormack says. “We had 12 come in from Slovakia! That’s insane! And they’re spending money in the hotels, in the bars, in the restaurants — that money supports our local economy.”\nThe 256% rise in matchday attendances since the takeover has put a strain on facilities unready for the increased level of interest. The club were averaging just 40 attendees per week when McCormack took over, whereas CEO Emma Firman wrote in the week’s program notes that the club is now working with local businesses to expand its designated parking for the game.\n“Our match days are getting busier, which is exciting for everyone here at the club as more people recognise our exciting project at McMullen Park,” she wrote.\nBut for all the club’s progress, the club’s ownership model is reliant on Bitcoin-affiliated sponsors impacted by the ongoing bear market.\nThe club still sits five rungs below McCormack’s medium-term target of the Football League — tiers 2 to 4 — where budgets of newly promoted sides are £1-3 million. Getting there will require sustained success for the next half-decade — not just for the team, but for Bitcoin-backed sponsors who will have to weather any further market volatility and declines in the token’s price.\nCompanies across the sector have been forced to push throughlarge-scale layoffsover the past year, with Real Bedford’s main sponsor Gemini undergoingthree consecutive rounds of job cutsbetween July 2022 and January 2023. Their spending on TV and digital advertisements alonefell from US$3.8 million to US$478,000between May and November 2022, according to the Wall Street Journal.\n“Crypto sponsor’s rich marketing budgets depended on the huge crypto bubble that allowed them to raise money effortlessly,” said SVRN’s Samuel Lee.\n“With the collapse in crypto prices and waning interest in crypto, money is unsurprisingly tight. I think crypto companies are starting to realize that the payoff for expensive sports sponsorships isn’t as high as they thought,” Lee added.\nMcCormack said that he personally has little concern for a Bitcoin price drop. The U.K. economy and the pound are more vulnerable to volatility in light of the government’s debt burden, he said. But he did stress the importance of achieving stability beyond a reliance on Real Bedford’s Bitcoin backers.\nOne way to do that, he said, is by growing crowds through a brand of football fans can engage with. That starts with the club’s skull-heavy rebrand as The Pirates and a ramped up social media presence that leans heavily into the idea of the world’s first Bitcoin-backed team as rock-n-roll disruptors.\n“You give people a brand of football they can support,” McCormack said. “We have skulls. Skulls are f–king cool. We play heavy metal when they come on the pitch. And have you seen our tunnel?”\nThe team’s brand also involves strong connections with the local area, not just through the men’s team, but through community initiatives, youth and women’s football. The recent FIFA Women’s World Cup in Australia and New Zealand drew recordglobal audiencesand McCormack said he sees potential for women’s football as a growth market for Real Bedford.\nThe club began its expansion in this area bycompleting a mergerwith Bedford Ladies and Girls FC in June. McCormack has raised the budget for the women’s team, and is aiming for commercial parity with the men’s side.\n“There’s a commercial reason to do that because the town will recognize it,” he said. “They might come and watch, or bring their daughters to come and watch. Some people might say, ‘oh, that’s so woke’ or whatever. But no, it’s a commercially astute decision.”\nMcCormack’s emphasis on community building signposts a potential route for the club through the crypto winter and continuing Bitcoin bear market.\nUnlike Crawley, where the division between crypto backers and footballing matters has dissolved to the detriment of the club, McCormack maintains that a solid distance is kept between Real Bedford’s Bitcoin financing and the team.\n“If you just want to come for the football, you can just have a full football experience and not have [Bitcoin] forced down your throat,” McCormack said. “There’s even an article on our website that says why you should not buy Bitcoin.”\nIn the short term at least, Real Bedford’s focus is on growing the crowds and their fan base. And that means continuing to win, regardless of where the financing comes from.\n“The team’s job is not to care about Bitcoin; the manager’s job is not to care about Bitcoin, their job is to win games,” McCormack said.\nAt last week’s game, everyone played their parts to perfection.\nREAL BEDFORD 9 – 1 ROTHWELL CORINTHIANS.', 'The team in bright orange, a skull and crossbones on their chests, walked onto the field of play, their anthem\xa0 — “ Know Your Enemy ” by U.S. rap metal band Rage Against the Machine — drowning out the cheers of the 150 or so fans in attendance. It was a suitably rock-n-roll start to a first round cup game for Real Bedford, the world’s first Bitcoin-funded football team. The club, based in Bedford, a market town with a population of 170,000 in Bedfordshire, England, is the passion project of local owner and Bitcoin evangelist Peter McCormack. The host of the “What Bitcoin Did” podcast — a Bitcoin-based current affairs show that positions the cryptocurrency as a remedy for socioeconomic issues such as rising inflation and state debt — spoke animatedly on the day of the match about the changes the club has seen under his ownership, and the role that Bitcoin has played in it. “Teams should care about something,” he said. “Every club has a history of where it came from. It’s usually the community they were in.” His ownership has brought with it the international reach and decentralized philosophy of Bitcoin — a “global community that cares about hard working people not having the fruits of their labor debased by government mismanagement of money,” he added. But financial reliance on a cryptocurrency brings with it certain complications — including market volatility and industry implosions beyond the Real Bedford owner’s control. Bear market McCormack completed the purchase of Real Bedford — a South Midlands Division One side then known as Bedford FC — in April 2022 on the back of various business ventures linked to Bitcoin. He said at the time of the takeover that, with Bitcoin-backed financing, he wants to put the club in a position to rise nine tiers to the Premier League — the pinnacle of English football. 3/ So what is the plan? To get our club into the Premier League, 9 promotions… …I am a bitcoiner, we aim big. If we can separate money and state, we can get a football club into the Premier League. pic.twitter.com/uQu4i0l90v — Peter McCormack🏴\u200d☠️ (@PeterMcCormack) December 16, 2021 He started the process of buying the club in December 2021, near the peak of the last crypto bull market. But in March 2022, the U.S. Federal Reserve began raising interest rates. Then in May that year, stablecoin platform Terra-Luna collapsed, followed by the FTX cryptocurrency exchange in November. A bear market mentality settled over the crypto industry as investors shied away from riskier assets, including Bitcoin. Prices dropped, while over US$2 trillion was wiped off the wider market. Story continues From a high of almost US$70,000, Bitcoin’s price plummeted to less than US$16,000 by the end of 2022. While it recovered some of that ground to trade within the US$26,000 range as of early September, analysts expect macroeconomic concerns to continue to weigh on the token’s price — at least in the short term. “The main headwind for crypto is rising real interest rates,” said Samuel Lee, founder of U.S.-based SVRN Asset Management, an investment advisory firm. “It’s unlikely we’ll see a sustained resurgence until interest rates drop back down again and people forget about the trauma and folly of the last bubble.” Could an extended period of crypto winter combined with further declines in the price of Bitcoin impact Real Bedford? “That doesn’t worry me because I fundamentally believe there’s a far higher chance of the pound failing than Bitcoin,” McCormack said. “I think a more important question is: is the club sustainable if we don’t keep winning?” Local link Real Bedford field As the referee blew his whistle for the start of last week’s game at McMullen Park, the realities of ninth-tier English football set in. With the music off, the fans quietened down, their cheers replaced by the sound of the wind blowing through the trees lining the ground and a motorway running opposite. It was a long way from the glamor of the Premier League. “Bedford isn’t really known for anything,” said McCormack, 44, who has lived in the town most of his life. “If a tourist comes to the U.K., most people go to London or Manchester or Bath. There’s no reason to come to Bedford.” Mark Anderson, a local software engineer who volunteers at the club on Saturdays, was more direct. “Bedfordshire is basically the arse-end of the nice bits,” he said, referring to the county’s location north of Greater London on the periphery of some of Britain’s most desirable real estate. But it is McCormack’s connection to the local area, the Real Bedford owner said, that gives him an advantage over other sporting ownership models backed by digital assets. “This has meaning to me because it’s my town,” he said. “It’s the most important thing I’m doing. The town of Bedford should have a team in the Football League.” He pointed to fourth-tier English football team Crawley Town — bought by U.S. crypto consortium WAGMI United in April 2022 — as an example of an ownership model without a link to the local community. WAGMI, like McCormack, promised to take the club to the pinnacle of English football. But rather than Bitcoin, they planned to use sales of non-fungible tokens (NFTs) to build Crawley’s brand and establish an international fan base. The project got off to a promising start, earning £3.5 million (US$4.4 million) from its first NFT drop. But against the backdrop of last year’s turbulence in the crypto market, the new owners became increasingly involved in day-to-day footballing operations — including a brief stint on the coach’s bench for co-owner Preston Johnson. The club went into a tailspin, suffering its worst finish in twelve years in the football league and narrowly avoiding relegation. While WAGMI United didn’t respond to a request for comment, Reuben Watt, Chair of the Crawley Town Supporters Alliance, said that by the end of last season, confidence in the group’s ownership was at an “all-time low.” He worried that the owners had consistently focused on pleasing NFT holders over local fans. Concern among fans appears to have sunk in. WAGMI appointed Sam Jordan , a member of the Supporter’s Alliance, to the board of directors in August. “I think the appointment of Sam to the club’s board is a huge turning point for the club,” said Watt. “Had WAGMI got in someone with knowledge of English football straight away and put a fan on the board, then we would’ve been in a better situation.” McCormack didn’t hold back in his criticism of the Crawley owners. “I think they bought it as a toy,” he said. “They bought a toy under the hype, probably watched a bunch of Ted Lasso and got excited. They’ve done a terrible job.” He also identified issues with the WAGMI group’s association with crypto assets like meme coins and NFTs — which are fundamentally different, he said, to Bitcoin — as another flaw in its business model. “They basically want to just get people to buy crap that will lose value — which has been proven historically — whereas for us, Bitcoin is a monetary asset,” he said. “This war we see between Bitcoin and crypto is reflected in the ethos of how we run our clubs. Bitcoin is in our DNA, but we’re also about building that feeling around the town that this is a community thing,” he added. Bitcoin backers whT81kxU7gg7esBeHPNaCYf4 aXkds0rZ3CDdLcCpVFXzp9CXDRPsYW0Y6c9dn8ej6jiPyg3nbMizkq7sWcNQFq1YdI2s4AHRuJLfsIsCYXJVkEy tVqZeDy3CE4f3a114Gsd57XuC8QqHfZ5mEiFo Last season, Real Bedford won its division at a canter, earning promotion to the South Midlands Premier Division. Much of the financing behind that run came from large-scale sponsorship. The club has partnership agreements with a host of Bitcoin companies, including Iris Energy, a sustainable Bitcoin mining firm; Galaxy, a crypto firm dealing in corporate finance; and Gemini, a cryptocurrency exchange. According to the club’s records , sponsorship provided £387,900 (US$491,000) out of the club’s £549,507 (US$696,000) revenue in the 22/23 season — a significant amount given that ninth-tier clubs typically only have sponsorship deals in the four to five figure range. The revenue brought in through tie-ups with the likes of Gemini — who, according to a spokesperson, view the Real Bedford partnership as a form of Bitcoin-backed community building — allows the club to make improvements to its facilities and player welfare in a way unmatched by the league’s other teams. And while the sponsorship revenue gives the club a huge advantage in its ability to attract players, the Bitcoin connection also acts as a magnet for attracting supporters from further afield — football fans who may not otherwise have chosen Bedford as a place to spend their Saturday afternoons. “Over the last year, over 100 people have come in from other countries to watch the games here,” McCormack says. “We had 12 come in from Slovakia! That’s insane! And they’re spending money in the hotels, in the bars, in the restaurants — that money supports our local economy.” The 256% rise in matchday attendances since the takeover has put a strain on facilities unready for the increased level of interest. The club were averaging just 40 attendees per week when McCormack took over, whereas CEO Emma Firman wrote in the week’s program notes that the club is now working with local businesses to expand its designated parking for the game. “Our match days are getting busier, which is exciting for everyone here at the club as more people recognise our exciting project at McMullen Park,” she wrote. Sustainable growth But for all the club’s progress, the club’s ownership model is reliant on Bitcoin-affiliated sponsors impacted by the ongoing bear market. The club still sits five rungs below McCormack’s medium-term target of the Football League — tiers 2 to 4 — where budgets of newly promoted sides are £1-3 million. Getting there will require sustained success for the next half-decade — not just for the team, but for Bitcoin-backed sponsors who will have to weather any further market volatility and declines in the token’s price. Companies across the sector have been forced to push through large-scale layoffs over the past year, with Real Bedford’s main sponsor Gemini undergoing three consecutive rounds of job cuts between July 2022 and January 2023. Their spending on TV and digital advertisements alone fell from US$3.8 million to US$478,000 between May and November 2022, according to the Wall Street Journal. “Crypto sponsor’s rich marketing budgets depended on the huge crypto bubble that allowed them to raise money effortlessly,” said SVRN’s Samuel Lee. “With the collapse in crypto prices and waning interest in crypto, money is unsurprisingly tight. I think crypto companies are starting to realize that the payoff for expensive sports sponsorships isn’t as high as they thought,” Lee added. McCormack said that he personally has little concern for a Bitcoin price drop. The U.K. economy and the pound are more vulnerable to volatility in light of the government’s debt burden, he said. But he did stress the importance of achieving stability beyond a reliance on Real Bedford’s Bitcoin backers. dfrkKFeDIbN5Rl X2KE5IGi543Qeb7GGim6vc 4i0IvKc3zbD0jaCDxUNRbA 3DWyUV2K Yct67s1hvuPoqI8nmUEDCBja7RNxHeGIIJ2YaQSdCaVGs OFK26ALHBBvUe xqgBZxjLBb2v2 urlfbo8 One way to do that, he said, is by growing crowds through a brand of football fans can engage with. That starts with the club’s skull-heavy rebrand as The Pirates and a ramped up social media presence that leans heavily into the idea of the world’s first Bitcoin-backed team as rock-n-roll disruptors. “You give people a brand of football they can support,” McCormack said. “We have skulls. Skulls are f–king cool. We play heavy metal when they come on the pitch. And have you seen our tunnel?” Bitcoin in the community The team’s brand also involves strong connections with the local area, not just through the men’s team, but through community initiatives, youth and women’s football. The recent FIFA Women’s World Cup in Australia and New Zealand drew record global audiences and McCormack said he sees potential for women’s football as a growth market for Real Bedford. The club began its expansion in this area by completing a merger with Bedford Ladies and Girls FC in June. McCormack has raised the budget for the women’s team, and is aiming for commercial parity with the men’s side. “There’s a commercial reason to do that because the town will recognize it,” he said. “They might come and watch, or bring their daughters to come and watch. Some people might say, ‘oh, that’s so woke’ or whatever. But no, it’s a commercially astute decision.” McCormack’s emphasis on community building signposts a potential route for the club through the crypto winter and continuing Bitcoin bear market. Unlike Crawley, where the division between crypto backers and footballing matters has dissolved to the detriment of the club, McCormack maintains that a solid distance is kept between Real Bedford’s Bitcoin financing and the team. “If you just want to come for the football, you can just have a full football experience and not have [Bitcoin] forced down your throat,” McCormack said. “There’s even an article on our website that says why you should not buy Bitcoin.” In the short term at least, Real Bedford’s focus is on growing the crowds and their fan base. And that means continuing to win, regardless of where the financing comes from. “The team’s job is not to care about Bitcoin; the manager’s job is not to care about Bitcoin, their job is to win games,” McCormack said. At last week’s game, everyone played their parts to perfection. REAL BEDFORD 9 – 1 ROTHWELL CORINTHIANS.', 'The team in bright orange, a skull and crossbones on their chests, walked onto the field of play, their anthem\xa0 —“Know Your Enemy”by U.S. rap metal band Rage Against the Machine — drowning out the cheers of the 150 or so fans in attendance.\nIt was a suitably rock-n-roll start to a first round cup game for Real Bedford, the world’s first Bitcoin-funded football team. The club, based in Bedford, a market town with a population of 170,000 in Bedfordshire, England, is the passion project of local owner and Bitcoin evangelist Peter McCormack.\nThe host of the “What Bitcoin Did” podcast — a Bitcoin-based current affairs show that positions the cryptocurrency as a remedy for socioeconomic issues such as rising inflation and state debt — spoke animatedly on the day of the match about the changes the club has seen under his ownership, and the role that Bitcoin has played in it.\n“Teams should care about something,” he said. “Every club has a history of where it came from. It’s usually the community they were in.” His ownership has brought with it the international reach and decentralized philosophy of Bitcoin — a “global community that cares about hard working people not having the fruits of their labor debased by government mismanagement of money,” he added.\nBut financial reliance on a cryptocurrency brings with it certain complications — including market volatility and industry implosions beyond the Real Bedford owner’s control.\nMcCormack completed the purchase of Real Bedford — a South Midlands Division One side then known as Bedford FC — in April 2022 on the back of various business ventures linked to Bitcoin. He said at the time of the takeover that, with Bitcoin-backed financing, he wants to put the club in a position to rise nine tiers to the Premier League — the pinnacle of English football.\nHe started the process of buying the club in December 2021, near the peak of the last crypto bull market. But in March 2022, the U.S. Federal Reserve began raising interest rates. Then in May that year, stablecoin platform Terra-Luna collapsed, followed by the FTX cryptocurrency exchange in November. A bear market mentality settled over the crypto industry as investors shied away from riskier assets, including Bitcoin. Prices dropped, while over US$2 trillion was wiped off the wider market.\nFrom a high of almost US$70,000, Bitcoin’s price plummeted to less than US$16,000 by the end of 2022. While it recovered some of that ground to trade within the US$26,000 range as of early September, analysts expect macroeconomic concerns to continue to weigh on the token’s price — at least in the short term.\n“The main headwind for crypto is rising real interest rates,” said Samuel Lee, founder of U.S.-based SVRN Asset Management, an investment advisory firm. “It’s unlikely we’ll see a sustained resurgence until interest rates drop back down again and people forget about the trauma and folly of the last bubble.”\nCould an extended period of crypto winter combined with further declines in the price of Bitcoin impact Real Bedford?\n“That doesn’t worry me because I fundamentally believe there’s a far higher chance of the pound failing than Bitcoin,” McCormack said. “I think a more important question is: is the club sustainable if we don’t keep winning?”\nAs the referee blew his whistle for the start of last week’s game at McMullen Park, the realities of ninth-tier English football set in. With the music off, the fans quietened down, their cheers replaced by the sound of the wind blowing through the trees lining the ground and a motorway running opposite. It was a long way from the glamor of the Premier League.\n“Bedford isn’t really known for anything,” said McCormack, 44, who has lived in the town most of his life. “If a tourist comes to the U.K., most people go to London or Manchester or Bath. There’s no reason to come to Bedford.”\nMark Anderson, a local software engineer who volunteers at the club on Saturdays, was more direct. “Bedfordshire is basically the arse-end of the nice bits,” he said, referring to the county’s location north of Greater London on the periphery of some of Britain’s most desirable real estate.\nBut it is McCormack’s connection to the local area, the Real Bedford owner said, that gives him an advantage over other sporting ownership models backed by digital assets.\n“This has meaning to me because it’s my town,” he said. “It’s the most important thing I’m doing. The town of Bedford should have a team in the Football League.”\nHe pointed to fourth-tier English football team Crawley Town —boughtby U.S. crypto consortium WAGMI United in April 2022 — as an example of an ownership model without a link to the local community. WAGMI, like McCormack, promised to take the club to the pinnacle of English football. But rather than Bitcoin, they planned to use sales of non-fungible tokens (NFTs) to build Crawley’s brand and establish an international fan base.\nThe project got off to a promising start, earning £3.5 million (US$4.4 million) from its first NFT drop. But against the backdrop of last year’s turbulence in the crypto market, the new owners became increasingly involved in day-to-day footballing operations — including abrief stinton the coach’s bench for co-owner Preston Johnson. The club went into a tailspin, suffering itsworst finishin twelve years in the football league and narrowly avoiding relegation.\nWhile WAGMI United didn’t respond to a request for comment, Reuben Watt, Chair of the Crawley Town Supporters Alliance, said that by the end of last season, confidence in the group’s ownership was at an “all-time low.” He worried that the owners had consistently focused on pleasing NFT holders over local fans.\nConcern among fans appears to have sunk in. WAGMIappointed Sam Jordan, a member of the Supporter’s Alliance, to the board of directors in August.\n“I think the appointment of Sam to the club’s board is a huge turning point for the club,” said Watt. “Had WAGMI got in someone with knowledge of English football straight away and put a fan on the board, then we would’ve been in a better situation.”\nMcCormack didn’t hold back in his criticism of the Crawley owners. “I think they bought it as a toy,” he said. “They bought a toy under the hype, probably watched a bunch of Ted Lasso and got excited. They’ve done a terrible job.”\nHe also identified issues with the WAGMI group’s association with crypto assets like meme coins and NFTs — which are fundamentally different, he said, to Bitcoin — as another flaw in its business model.\n“They basically want to just get people to buy crap that will lose value — which has been proven historically — whereas for us, Bitcoin is a monetary asset,” he said.\n“This war we see between Bitcoin and crypto is reflected in the ethos of how we run our clubs. Bitcoin is in our DNA, but we’re also about building that feeling around the town that this is a community thing,” he added.\nLast season, Real Bedford won its division at a canter, earning promotion to the South Midlands Premier Division. Much of the financing behind that run came from large-scale sponsorship. The club has partnership agreements with a host of Bitcoin companies, including Iris Energy, a sustainable Bitcoin mining firm; Galaxy, a crypto firm dealing in corporate finance; and Gemini, a cryptocurrency exchange.\nAccording to the club’srecords, sponsorship provided £387,900 (US$491,000) out of the club’s £549,507 (US$696,000) revenue in the 22/23 season — a significant amount given that ninth-tier clubs typically only have sponsorship deals in the four to five figure range.\nThe revenue brought in through tie-ups with the likes of Gemini — who, according to a spokesperson, view the Real Bedford partnership as a form of Bitcoin-backed community building — allows the club to make improvements to its facilities and player welfare in a way unmatched by the league’s other teams.\nAnd while the sponsorship revenue gives the club a huge advantage in its ability to attract players, the Bitcoin connection also acts as a magnet for attracting supporters from further afield — football fans who may not otherwise have chosen Bedford as a place to spend their Saturday afternoons.\n“Over the last year, over 100 people have come in from other countries to watch the games here,” McCormack says. “We had 12 come in from Slovakia! That’s insane! And they’re spending money in the hotels, in the bars, in the restaurants — that money supports our local economy.”\nThe 256% rise in matchday attendances since the takeover has put a strain on facilities unready for the increased level of interest. The club were averaging just 40 attendees per week when McCormack took over, whereas CEO Emma Firman wrote in the week’s program notes that the club is now working with local businesses to expand its designated parking for the game.\n“Our match days are getting busier, which is exciting for everyone here at the club as more people recognise our exciting project at McMullen Park,” she wrote.\nBut for all the club’s progress, the club’s ownership model is reliant on Bitcoin-affiliated sponsors impacted by the ongoing bear market.\nThe club still sits five rungs below McCormack’s medium-term target of the Football League — tiers 2 to 4 — where budgets of newly promoted sides are £1-3 million. Getting there will require sustained success for the next half-decade — not just for the team, but for Bitcoin-backed sponsors who will have to weather any further market volatility and declines in the token’s price.\nCompanies across the sector have been forced to push throughlarge-scale layoffsover the past year, with Real Bedford’s main sponsor Gemini undergoingthree consecutive rounds of job cutsbetween July 2022 and January 2023. Their spending on TV and digital advertisements alonefell from US$3.8 million to US$478,000between May and November 2022, according to the Wall Street Journal.\n“Crypto sponsor’s rich marketing budgets depended on the huge crypto bubble that allowed them to raise money effortlessly,” said SVRN’s Samuel Lee.\n“With the collapse in crypto prices and waning interest in crypto, money is unsurprisingly tight. I think crypto companies are starting to realize that the payoff for expensive sports sponsorships isn’t as high as they thought,” Lee added.\nMcCormack said that he personally has little concern for a Bitcoin price drop. The U.K. economy and the pound are more vulnerable to volatility in light of the government’s debt burden, he said. But he did stress the importance of achieving stability beyond a reliance on Real Bedford’s Bitcoin backers.\nOne way to do that, he said, is by growing crowds through a brand of football fans can engage with. That starts with the club’s skull-heavy rebrand as The Pirates and a ramped up social media presence that leans heavily into the idea of the world’s first Bitcoin-backed team as rock-n-roll disruptors.\n“You give people a brand of football they can support,” McCormack said. “We have skulls. Skulls are f–king cool. We play heavy metal when they come on the pitch. And have you seen our tunnel?”\nThe team’s brand also involves strong connections with the local area, not just through the men’s team, but through community initiatives, youth and women’s football. The recent FIFA Women’s World Cup in Australia and New Zealand drew recordglobal audiencesand McCormack said he sees potential for women’s football as a growth market for Real Bedford.\nThe club began its expansion in this area bycompleting a mergerwith Bedford Ladies and Girls FC in June. McCormack has raised the budget for the women’s team, and is aiming for commercial parity with the men’s side.\n“There’s a commercial reason to do that because the town will recognize it,” he said. “They might come and watch, or bring their daughters to come and watch. Some people might say, ‘oh, that’s so woke’ or whatever. But no, it’s a commercially astute decision.”\nMcCormack’s emphasis on community building signposts a potential route for the club through the crypto winter and continuing Bitcoin bear market.\nUnlike Crawley, where the division between crypto backers and footballing matters has dissolved to the detriment of the club, McCormack maintains that a solid distance is kept between Real Bedford’s Bitcoin financing and the team.\n“If you just want to come for the football, you can just have a full football experience and not have [Bitcoin] forced down your throat,” McCormack said. “There’s even an article on our website that says why you should not buy Bitcoin.”\nIn the short term at least, Real Bedford’s focus is on growing the crowds and their fan base. And that means continuing to win, regardless of where the financing comes from.\n“The team’s job is not to care about Bitcoin; the manager’s job is not to care about Bitcoin, their job is to win games,” McCormack said.\nAt last week’s game, everyone played their parts to perfection.\nREAL BEDFORD 9 – 1 ROTHWELL CORINTHIANS.', '• The SEC has waged war against the cryptocurrency industry this year with a string of lawsuits.\n• At the heart of it is SEC chief Gary Gensler – who has railed against crypto since taking office.\n• Amid his regulatory battle against crypto, Insider maps the evolution of his views on the sector.\nNewsflash: Gary Gensler doesn\'t much like the cryptocurrency industry.\nThe chair of the Securities and Exchange Commission has waged all-out war on the digital-asset sector since his appointment in 2021 – gaining praise from cryptocurrency skeptics and backlash from its supporters.\nNow the battle is getting messier. On Tuesday, America\'s chief regulatory body suffered its most severe setback so far – after an appeals court overturned its decision to block a spot Bitcoin exchange-traded fund proposed by Grayscale Investments.\nGensler is undeterred, however – doubling down on his rhetoric as the SEC wades further into the cryptocurrency sphere. Here, Insider takes a look at his evolving stance on the industry.\nBefore Gensler\'s appointment to the SEC in 2021, and in the pre-Covid cryptocurrency boom, he was considerably more optimistic about the blockchain\'s prospects.\n"Though literally thousands of projects have yet to land on broadly adopted use cases, I remain intrigued by Satoshi\'s [the alleged creator of Bitcoin] innovation\'s potential to spur change – either directly or indirectly as a catalyst," he wrotein an op-ed for CoinDeskin December 2019.\n"The potential to lower verification and networking costs is worth pursuing, particularly to lower economic rents and data privacy costs, and promote economic inclusion," he added.\nUpon his accession to the SEC, however, the former Goldman banker began using a \'poker chips\' analogy to describe the tokens.\n"The $125 billion of stablecoins we have right now are like poker chips at a casino," Gensler told Congress in October 2021. "I do think that if this continues to grow – and it\'s grown about tenfold in the last year – it can present those systemic wide risks."\nAfter the dramatic collapse of Sam Bankman-Fried\'s cryptocurrency exchange FTX in November, Gensler became considerably tougher on the industry after receiving blame for his role in the disaster.\nThis was down to lawmakers criticizing the SEC and Gensler himself for not being alert to FTX\'s wrongdoing sooner and failing to protect investors as the exchange collapsed,according to Coinbase.\nIn a letter to the SEC, US representative Ritchie Torres labeled Gensler as "singularly responsible" for the FTX catastrophe,Fortune Crypto reported.\nAs 2023 progresses, Gensler has becomemore hardline on crypto– waging lawsuits not just against FTX, but also the Binance and Ripple platforms.\n"The platforms often are co-mingling and trading against you and have market-makers that are on the other side of your trades. We don\'t allow that in the rest of our securities markets," he told Bloomberg TV in July.\n"The securities laws are there to protect you, and this is a field rife with fraud, rife with hucksters. There are good-faith actors as well, but there are far too many that aren\'t."\nAfter almost six months of attrition warfare, Gary Gensler had crypto on the ropes. But a pair of recent legal setbacks have scored some victories for the digital asset industry as platforms seek to avoid being recognised as securities – as a means of dodging increased regulatory scrutiny.\nThe SEC\'s most painful defeat came on Tuesday when an appeals court overturned its decision to block Grayscale Investments\' proposed spot Bitcoin ETF. The ruling may open the floodgates for the potential release of products the SEC believes are unsafe for retail investors. The regulator is reviewing the decision.\nGensler is in the spotlight this week not just for crypto. The Committee on Capital Markets Regulation revealed that the SEC chief hit the financial sector with more new rules and regulatory proposals than any of his predecessors since the aftermath of the 2008 financial crisis,the FT reported.\nRead the original article onBusiness Insider', 'Tom Williams, Roll Call Inc/Getty Images The SEC has waged war against the cryptocurrency industry this year with a string of lawsuits. At the heart of it is SEC chief Gary Gensler – who has railed against crypto since taking office. Amid his regulatory battle against crypto, Insider maps the evolution of his views on the sector. Newsflash: Gary Gensler doesn\'t much like the cryptocurrency industry. The chair of the Securities and Exchange Commission has waged all-out war on the digital-asset sector since his appointment in 2021 – gaining praise from cryptocurrency skeptics and backlash from its supporters. Now the battle is getting messier. On Tuesday, America\'s chief regulatory body suffered its most severe setback so far – after an appeals court overturned its decision to block a spot Bitcoin exchange-traded fund proposed by Grayscale Investments. Gensler is undeterred, however – doubling down on his rhetoric as the SEC wades further into the cryptocurrency sphere. Here, Insider takes a look at his evolving stance on the industry. In the beginning Before Gensler\'s appointment to the SEC in 2021, and in the pre-Covid cryptocurrency boom, he was considerably more optimistic about the blockchain\'s prospects. "Though literally thousands of projects have yet to land on broadly adopted use cases, I remain intrigued by Satoshi\'s [the alleged creator of Bitcoin] innovation\'s potential to spur change – either directly or indirectly as a catalyst," he wrote in an op-ed for CoinDesk in December 2019. "The potential to lower verification and networking costs is worth pursuing, particularly to lower economic rents and data privacy costs, and promote economic inclusion," he added. Upon his accession to the SEC, however, the former Goldman banker began using a \'poker chips\' analogy to describe the tokens. "The $125 billion of stablecoins we have right now are like poker chips at a casino," Gensler told Congress in October 2021. "I do think that if this continues to grow – and it\'s grown about tenfold in the last year – it can present those systemic wide risks." Story continues Gensler and the FTX fiasco After the dramatic collapse of Sam Bankman-Fried\'s cryptocurrency exchange FTX in November, Gensler became considerably tougher on the industry after receiving blame for his role in the disaster. This was down to lawmakers criticizing the SEC and Gensler himself for not being alert to FTX\'s wrongdoing sooner and failing to protect investors as the exchange collapsed, according to Coinbase . In a letter to the SEC, US representative Ritchie Torres labeled Gensler as "singularly responsible" for the FTX catastrophe, Fortune Crypto reported . As 2023 progresses, Gensler has become more hardline on crypto – waging lawsuits not just against FTX, but also the Binance and Ripple platforms. "The platforms often are co-mingling and trading against you and have market-makers that are on the other side of your trades. We don\'t allow that in the rest of our securities markets," he told Bloomberg TV in July. "The securities laws are there to protect you, and this is a field rife with fraud, rife with hucksters. There are good-faith actors as well, but there are far too many that aren\'t." Lawsuit fatigue After almost six months of attrition warfare, Gary Gensler had crypto on the ropes. But a pair of recent legal setbacks have scored some victories for the digital asset industry as platforms seek to avoid being recognised as securities – as a means of dodging increased regulatory scrutiny. The SEC\'s most painful defeat came on Tuesday when an appeals court overturned its decision to block Grayscale Investments\' proposed spot Bitcoin ETF. The ruling may open the floodgates for the potential release of products the SEC believes are unsafe for retail investors. The regulator is reviewing the decision. Gensler is in the spotlight this week not just for crypto. The Committee on Capital Markets Regulation revealed that the SEC chief hit the financial sector with more new rules and regulatory proposals than any of his predecessors since the aftermath of the 2008 financial crisis, the FT reported . Read the original article on Business Insider', "HiSilicon Huawei's Kirin 9000S system-on-chip that powers Huawei's new Mate 60 Pro smartphone is rumored to be made by China-based SMIC using its 2nd\xa0generation 7nm-class fabrication process and stacking, according to\xa0TechInsights, a significant semiconductor research firm, as per a report by the South China Morning Post . In addition, the SoC reportedly packs CPU and GPU featuring microarchitectures developed in-house. Meanwhile, all the information about the Kirin 9000S is strictly unofficial. Huawei's HiSilicon Kirin 9000S looks to be a quite complex SoC packing four high-performance cores (one at up to 2.62 GHz and two at up to 2,150 MHz) and four energy-efficient cores (up to 1,530 MHz) based on the company's own TaiShan microarchitecture (which still looks to be found on the Armv8a ISA ) as well as the Maleoon 910 graphics processing unit operating at up to 750 MHz, based on screenshots by Huawei Central . CPU and GPU cores run at relatively low clocks compared to frequencies of Arm's cores featured in previous generations of HiSilicon's SoCs. But low frequencies can be explained by the fact that SMIC makes the new SoC on its unannounced 2nd generation 7nm fabrication process, which could be a breakthrough for SMIC, Huawei, and China's high-tech industry. Although TechInsights calls this fabrication technology SMIC's 2nd\xa0generation production node, state-controlled Global Times claims that China's foundry champion uses its 5nm-class manufacturing technology to make the SoC. But these two names seem to describe the same thing, which was once known as SMIC's N+2. SMIC\xa0briefly mentioned its N+2\xa0manufacturing technology\xa0in 2020. At that time, it looked like an evolutionary step of its N+1, which was once called a low-cost alternative to TSMC's N7 (a 7nm-class fabrication process). In another Global Times publication, Chinese analysts labeled N+2 as SMIC's 5nm-class production node about a year ago . Story continues SMIC has never confirmed that it pro
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-03
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $505,011,897,406
- Hash Rate: 436863203.68695074
- Transaction Count: 625257.0
- Unique Addresses: 696368.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.40
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Illustration by Mitchell Preffer for Decrypt The prices of Bitcoin and Ethereum this week remained trapped in amber due to a dearth of both adoption or regulation stories. The week also saw the launch of Meta’s Threads, an Instagram-based microblogging site that looks suspiciously like Twitter. Don’t expect to see This Week on Crypto Threads just yet, however. In spite of the mass onboarding (ten million users in a few hours), Twitter will probably remain the Cryptoverse’s platform of choice for the foreseeable future. The week began with a DAO hack that severely disrupted the NFT market. Azuki DAO was formed by disgruntled Azuki NFT holders who banded together to coordinate a lawsuit demanding a $38 million refund from the Azuki’s creator, Chiru Labs, after its most recent release appeared to shamelessly plagiarize the original collection and do even better. The DAO itself was exploited for tens of thousands of dollars and appeared to have a knock-on effect on Yuga Labs’s iconic blue chip Bored Ape and Mutant Ape Yacht Club NFT collections, tweeted blockchain journalist Colin Wu. Affected by the Azuki incident, the NFT market fell sharply again in the past 24h. BAYC fell 16% and fell below 30 ETH, MAYC fell 20% and fell below 5 ETH, and Azuki fell 11% and fell below 6 ETH. The overall market value of the NFT market has fallen by 53% to 3.33million ETH in… — Wu Blockchain (@WuBlockchain) July 3, 2023 Beeple, the digital artist who currently holds the record for the most expensive NFT sold at auction— $69.3 million for his 10,000 Days collection—resurfaced in a headline in The Art newspaper. He donated a censored NFT of disgraced former FTX CEO Sam Bankman-Fried having an orgy with himself to an Italian art gallery. Molto bene! The artist @beeple has donated a "censored" NFT work starring the disgraced crypto entrepreneur Sam Bankman-Fried to an Italian museum @rivolicast https://t.co/HjYrb8c1OI — The Art Newspaper (@TheArtNewspaper) July 3, 2023 The Twitter account for crypto trading platform Bitfinex was seen dispensing some serious hopium on Monday. Story continues 🧵 The current #BTC 30-31k level is critical. This zone served as a rebound point in Jan 2021 after a 35% depreciation, leading to the $64,800 peak. https://t.co/wtjPwPhal9 — Bitfinex (@bitfinex) July 3, 2023 The next day, Gemini co-founder Cameron Winklevoss shared an open letter to Digital Currency Group CEO Barry Silbert who, according to Winklevoss, owes users of Gemini’s Earn program around a billion dollars. This feud has appeared in our Twitter roundup before , but this week Winklevoss channeled it into its logical conclusion: the courtroom. He warned Silbert about it three days in advance. Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/ErsYpcEjQD — Cameron Winklevoss (@cameron) July 4, 2023 Silbert may have just put his head in the sand, because it appears he didn’t respond to Winklevoss’s offer to negotiate. On Friday, Winklevoss posted a lengthy lawsuit thread with screenshots of his filing, alleging some very underhand stalling tactics on Silbert’s part. 1/ Today, @Gemini filed a lawsuit against @DCGco and @BarrySilbert personally in New York court. Barry was not only the architect and mastermind of the DCG and Genesis fraud against creditors, he was directly and personally involved in perpetrating it. — Cameron Winklevoss (@cameron) July 7, 2023 Billionaire Shark Tank star, Dallas Mavericks owner, and high-profile crypto fan Mark Cuban jumped on a thread by crypto skeptic lawyer John Reed Stark in order to praise Japan’s regulatory approach to crypto. The pair exchanged essays; Stark replied : “To me, crypto is not innovation – it’s mathematical computational blather typically dressed up by trickery and marketing theater.” You should read up on how Japan deals with regulation. https://t.co/yHCVwZAqvG When FTX crashed, NO ONE IN FTX JAPAN LOST MONEY. If the USA/SEC had followed their example by setting clear regulations that required the separation of customer and business funds and clear… https://t.co/Msvn9o9PCU — Mark Cuban (@mcuban) July 4, 2023 On Friday, Binance CEO Changpeng Zhao was swatting away rumors that his workforce was shrinking. The exchange and its CEO was recently sued by the SEC for alleged securities violations. 4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong. As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months… — CZ 🔶 Binance (@cz_binance) July 6, 2023 That day, Polygon Labs’ president Ryan Wyatt announced he’s leaving his position at the end of the month, but he’s staying adjacent to both the industry and Polygon. It's bittersweet to share I am leaving @0xPolygonLabs at the end of the month! @0xMarcB , our Chief Legal Officer, will be stepping up & leading working closely with @sandeepnailwal ! For me, I'll be advising Polygon, investing, & staying in the industry! More to come later. pic.twitter.com/ssPaY79oRc — Ryan Wyatt (@Fwiz) July 7, 2023 The founder of DeFi lending protocol Swivel Finance, Julien Traversa, noticed that something’s up with the now-defunct stablecoin issuer Fei Protocol’s Discord. It was taken over by the Superior Court of California for San Francisco County! Looks like @feiprotocol 's discord has been taken over by San Fransisco's superior courts This is the first I've personally seen courts take over a discord, is this common? A link to the class action -- https://t.co/fD20xLofTX pic.twitter.com/5HI1EpFZp2 — Julian Traversa (@TraversaJulian) July 7, 2023 Finally, machine learners can now pay each other in Bitcoin. Should we be worried? Artificial intelligence programs like ChatGPT have learned how to send bitcoin payments. To put this in other words... Machines can pay other machines. pic.twitter.com/j9VtLxpJc8 — Documenting ₿itcoin 📄 (@DocumentingBTC) July 7, 2023...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin edged up on Monday morning in Asia but remained below the US$26,000 resistance level, giving up much of last week’s gains from a favorable court ruling on Grayscale’s spot Bitcoin exchange-traded fund application. Ether also stayed range-bound at around US$1,650, while other top 10 non-stablecoin cryptocurrencies traded mixed, with XRP leading the winners and Dogecoin the losers. U.S. stock futures edged down Monday morning after Wall Street closed the week higher on a cool-off in the U.S. labor market that soothed the concerns for more interest rate hikes. Bitcoin gave up gains from Grayscale’s victory Bitcoin edged up 0.30% in the last 24 hours to US$25,958.25 as of 07:30 a.m. in Hong Kong and traded 0.46% lower for the week, according to CoinMarketCap data. The world’s leading cryptocurrency lost control of the US$26,000 support level on Friday and fluctuated around the mark over the weekend. Bitcoin briefly reached a weekly high of over US$28,000 last Tuesday on a court ruling that required the U.S. Securities and Exchange Commission to review asset manager Grayscale’s Bitcoin ETF application, but soon gave up all the gains after the SEC delayed all pending ETF applications on Thursday. “While investors might be looking at the Grayscale v. SEC developments, it feels like the recent price action is linked to activity from the FTX wallets, igniting fear of a potential dump as some (or all) of these assets would be liquidated into fiat for expenses, repaying investors,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. A Solana-based cold wallet owned by collapsed crypto exchange FTX transferred over US$10 million worth of cryptocurrencies, including LINK, SUSHI, LUNA and YFI, to Ethereum addresses from Aug. 31 to Sept. 2, according to Arkham Intelligence data cited by blockchain journalist Colin Wu . Both Bitcoin and Ether’s prices are below their 50-day moving averages of US$28,299 and US$1,789, indicating bearishness in the prices, Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in a Monday report by Matrixport. In the past month, the world’s leading stablecoin USDT has lost US$1 billion in market cap and consistently traded below the 1:1 peg with U.S. dollars, according to CoinMarketCap data. “The decline in (USDT) market cap was first associated with a move into Bitcoin on August 8 when US$400 million was moved from USDT into BTC. But then another US$500 million appeared to have been redeemed when Bitcoin prices crashed around August 18. Liquidity leaving the ecosystem, is always negative,” said Thielen. Story continues Ether inched 0.17% higher to US$1,635.19 and was down 1.27% over the past seven days. Most other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours and moved no higher than 1%. The exception was XRP, which led the winners by gaining 1.07% in the past 24 hours to US$0.5048, but remained 3.46% lower for the week. Dogecoin led the losers, dropping 0.62% in the past 24 hours to US$0.06315 and stayed flat for the seven-day period. Toncoin, the native token of Ton network, surged 23.86% in the past week, boosted by the network’s launch of its new smart contract programming language Tact on August 22. TON stands for “The Open Network,” a layer-1 blockchain originally developed by messaging service provider Telegram that withdrew from the project in 2020. TON launched the beta of its own crypto wallet service TON Space on August 10, which was integrated into the Telegram application at the very start. “With Telegram boasting a user base of 700 million, the platform presents a substantial opportunity for the distribution and onboarding of new users into the Toncoin ecosystem,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure foundation Balthazar DAO. The total crypto market capitalization dipped 0.09% to US$1.04 trillion. Trading volume dropped 10.77% to US$19.78 billion. U.S. stock futures flat after Wall Street booked weekly gains Image: Getty Images Main stock indexes across Asia went higher on Monday morning, as of 09:50 a.m. in Hong kong. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi all logged gains. U.S. stock futures were trading mixed with Dow futures and S&P 500 futures inching down while Nasdaq futures were edging higher. Wall Street closed varied at the end of regular session trading Friday, but all three major U.S. indexes booked weekly gains as Friday’s labor market data eased rate hike worries. The U.S. stock market closes this Monday and will open on Tuesday, The U.S. unemployment rate rose to 3.8% in August, the highest reading since February 2022, according to the Labor Department on Friday, which could mitigate the concerns about further increases in the U.S. interest rates. Given the uptick in unemployment rate, moderated job gains and wage growth, as well as an increase in labor force participation, “the U.S. August jobs report increases the probability that the highly data-dependent Fed will not hike again in this cycle,” Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz, tweeted on Friday. Adding to the optimistic outlook of the U.S. central bank’s battle against inflation, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday that “inflation is conclusively on track toward 2% over a reasonable time frame,” and that the Fed’s monetary policy “is already restrictive enough to get us there.” The Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. Fed Chair Jerome Powell said following July’s meeting that the central bank will take a “data-dependent” approach when deciding how to reduce the country’s annual inflation below its long-term goal of 2%. The CME FedWatch Tool predicts a 93% chance the Fed will maintain the current rate at its next meeting on September 20, up from 88% on Friday. Information to notice in the week ahead includes the S&P’s August U.S. services purchasing manager index (PMI) on Wednesday, as well as a series of Fed official speeches on Thursday. Meanwhile, China’s Shanghai Composite Index logged its biggest weekly gains in over a month last Friday, as the country ramped up the policy supports for its ailing post-Covid economic recovery, according to Reuters on Monday. China’s economic revival kit includes alleviating home-purchase restrictions in an attempt to stablize its wavering property market , as well as the country’s top banks paving ways for more interest rate cuts . (Updates with equity section.) View comments', 'Bitcoin edged up on Monday morning in Asia but remained below the US$26,000 resistance level, giving up much of last week’s gains from a favorable court ruling on Grayscale’s spot Bitcoin exchange-traded fund application. Ether also stayed range-bound at around US$1,650, while other top 10 non-stablecoin cryptocurrencies traded mixed, with XRP leading the winners and Dogecoin the losers. U.S. stock futures edged down Monday morning after Wall Street closed the week higher on a cool-off in the U.S. labor market that soothed the concerns for more interest rate hikes.\nBitcoin edged up 0.30% in the last 24 hours to US$25,958.25 as of 07:30 a.m. in Hong Kong and traded 0.46% lower for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency lost control of the US$26,000 support level on Friday and fluctuated around the mark over the weekend.\nBitcoin briefly reached a weekly high of over US$28,000 last Tuesday on acourt rulingthat required the U.S. Securities and Exchange Commission to review asset manager Grayscale’s Bitcoin ETF application, but soon gave up all the gains after the SEC delayed all pending ETF applications on Thursday.\n“While investors might be looking at the Grayscale v. SEC developments, it feels like the recent price action is linked to activity from the FTX wallets, igniting fear of a potential dump as some (or all) of these assets would be liquidated into fiat for expenses, repaying investors,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\nA Solana-based cold wallet owned by collapsed crypto exchange FTX transferred over US$10 million worth of cryptocurrencies, including LINK, SUSHI, LUNA and YFI, to Ethereum addresses from Aug. 31 to Sept. 2, according to Arkham Intelligence data cited by blockchain journalistColin Wu.\nBoth Bitcoin and Ether’s prices are below their 50-day moving averages of US$28,299 and US$1,789, indicating bearishness in the prices, Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in a Monday report by Matrixport.\nIn the past month, the world’s leading stablecoin USDT has lost US$1 billion in market cap and consistently traded below the 1:1 peg with U.S. dollars, according to CoinMarketCap data.\n“The decline in (USDT) market cap was first associated with a move into Bitcoin on August 8 when US$400 million was moved from USDT into BTC. But then another US$500 million appeared to have been redeemed when Bitcoin prices crashed around August 18. Liquidity leaving the ecosystem, is always negative,” said Thielen.\nEther inched 0.17% higher to US$1,635.19 and was down 1.27% over the past seven days.\nMost other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours and moved no higher than 1%. The exception was XRP, which led the winners by gaining 1.07% in the past 24 hours to US$0.5048, but remained 3.46% lower for the week.\nDogecoin led the losers, dropping 0.62% in the past 24 hours to US$0.06315 and stayed flat for the seven-day period.\nToncoin, the native token of Ton network, surged 23.86% in the past week, boosted by the network’s launch of its new smart contract programming languageTacton August 22.\nTON stands for “The Open Network,” a layer-1 blockchain originally developed by messaging service provider Telegram that withdrew from the project in 2020. TONlaunchedthe beta of its own crypto wallet service TON Space on August 10, which was integrated into the Telegram application at the very start.\n“With Telegram boasting a user base of 700 million, the platform presents a substantial opportunity for the distribution and onboarding of new users into the Toncoin ecosystem,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure foundation Balthazar DAO.\nThe total crypto market capitalization dipped 0.09% to US$1.04 trillion. Trading volume dropped 10.77% to US$19.78 billion.\nMain stock indexes across Asia went higher on Monday morning, as of 09:50 a.m. in Hong kong. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi all logged gains.\nU.S. stock futures were trading mixed with Dow futures and S&P 500 futures inching down while Nasdaq futures were edging higher. Wall Street closed varied at the end of regular session trading Friday, but all three major U.S. indexes booked weekly gains as Friday’s labor market data eased rate hike worries. The U.S. stock market closes this Monday and will open on Tuesday,\nThe U.S. unemployment rate rose to 3.8% in August, the highest reading since February 2022, according to theLabor Departmenton Friday, which could mitigate the concerns about further increases in the U.S. interest rates.\nGiven the uptick in unemployment rate, moderated job gains and wage growth, as well as an increase in labor force participation, “the U.S. August jobs report increases the probability that the highly data-dependent Fed will not hike again in this cycle,” Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz,tweetedon Friday.\nAdding to the optimistic outlook of the U.S. central bank’s battle against inflation, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday that “inflation is conclusively on track toward 2% over a reasonable time frame,” and that the Fed’s monetary policy “is already restrictive enough to get us there.”\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. Fed Chair Jerome Powellsaidfollowing July’s meeting that the central bank will take a “data-dependent” approach when deciding how to reduce the country’s annual inflation below its long-term goal of 2%.\nTheCME FedWatch Toolpredicts a 93% chance the Fed will maintain the current rate at its next meeting on September 20, up from 88% on Friday.\nInformation to notice in the week ahead includes the S&P’s August U.S. services purchasing manager index (PMI) on Wednesday, as well as a series of Fed official speeches on Thursday.\nMeanwhile, China’s Shanghai Composite Index logged its biggest weekly gains in over a month last Friday, as the country ramped up the policy supports for its ailing post-Covid economic recovery, according toReuterson Monday. China’s economic revival kit includes alleviating home-purchase restrictions in an attempt to stablize its waveringproperty market, as well as the country’s top banks paving ways for moreinterest rate cuts.\n(Updates with equity section.)', 'Bitcoin edged up on Monday morning in Asia but remained below the US$26,000 resistance level, giving up much of last week’s gains from a favorable court ruling on Grayscale’s spot Bitcoin exchange-traded fund application. Ether also stayed range-bound at around US$1,650, while other top 10 non-stablecoin cryptocurrencies traded mixed, with XRP leading the winners and Dogecoin the losers. U.S. stock futures edged down Monday morning after Wall Street closed the week higher on a cool-off in the U.S. labor market that soothed the concerns for more interest rate hikes.\nBitcoin edged up 0.30% in the last 24 hours to US$25,958.25 as of 07:30 a.m. in Hong Kong and traded 0.46% lower for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency lost control of the US$26,000 support level on Friday and fluctuated around the mark over the weekend.\nBitcoin briefly reached a weekly high of over US$28,000 last Tuesday on acourt rulingthat required the U.S. Securities and Exchange Commission to review asset manager Grayscale’s Bitcoin ETF application, but soon gave up all the gains after the SEC delayed all pending ETF applications on Thursday.\n“While investors might be looking at the Grayscale v. SEC developments, it feels like the recent price action is linked to activity from the FTX wallets, igniting fear of a potential dump as some (or all) of these assets would be liquidated into fiat for expenses, repaying investors,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\nA Solana-based cold wallet owned by collapsed crypto exchange FTX transferred over US$10 million worth of cryptocurrencies, including LINK, SUSHI, LUNA and YFI, to Ethereum addresses from Aug. 31 to Sept. 2, according to Arkham Intelligence data cited by blockchain journalistColin Wu.\nBoth Bitcoin and Ether’s prices are below their 50-day moving averages of US$28,299 and US$1,789, indicating bearishness in the prices, Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in a Monday report by Matrixport.\nIn the past month, the world’s leading stablecoin USDT has lost US$1 billion in market cap and consistently traded below the 1:1 peg with U.S. dollars, according to CoinMarketCap data.\n“The decline in (USDT) market cap was first associated with a move into Bitcoin on August 8 when US$400 million was moved from USDT into BTC. But then another US$500 million appeared to have been redeemed when Bitcoin prices crashed around August 18. Liquidity leaving the ecosystem, is always negative,” said Thielen.\nEther inched 0.17% higher to US$1,635.19 and was down 1.27% over the past seven days.\nMost other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours and moved no higher than 1%. The exception was XRP, which led the winners by gaining 1.07% in the past 24 hours to US$0.5048, but remained 3.46% lower for the week.\nDogecoin led the losers, dropping 0.62% in the past 24 hours to US$0.06315 and stayed flat for the seven-day period.\nToncoin, the native token of Ton network, surged 23.86% in the past week, boosted by the network’s launch of its new smart contract programming languageTacton August 22.\nTON stands for “The Open Network,” a layer-1 blockchain originally developed by messaging service provider Telegram that withdrew from the project in 2020. TONlaunchedthe beta of its own crypto wallet service TON Space on August 10, which was integrated into the Telegram application at the very start.\n“With Telegram boasting a user base of 700 million, the platform presents a substantial opportunity for the distribution and onboarding of new users into the Toncoin ecosystem,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure foundation Balthazar DAO.\nThe total crypto market capitalization dipped 0.09% to US$1.04 trillion. Trading volume dropped 10.77% to US$19.78 billion.\nMain stock indexes across Asia went higher on Monday morning, as of 09:50 a.m. in Hong kong. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi all logged gains.\nU.S. stock futures were trading mixed with Dow futures and S&P 500 futures inching down while Nasdaq futures were edging higher. Wall Street closed varied at the end of regular session trading Friday, but all three major U.S. indexes booked weekly gains as Friday’s labor market data eased rate hike worries. The U.S. stock market closes this Monday and will open on Tuesday,\nThe U.S. unemployment rate rose to 3.8% in August, the highest reading since February 2022, according to theLabor Departmenton Friday, which could mitigate the concerns about further increases in the U.S. interest rates.\nGiven the uptick in unemployment rate, moderated job gains and wage growth, as well as an increase in labor force participation, “the U.S. August jobs report increases the probability that the highly data-dependent Fed will not hike again in this cycle,” Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz,tweetedon Friday.\nAdding to the optimistic outlook of the U.S. central bank’s battle against inflation, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday that “inflation is conclusively on track toward 2% over a reasonable time frame,” and that the Fed’s monetary policy “is already restrictive enough to get us there.”\nThe Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. Fed Chair Jerome Powellsaidfollowing July’s meeting that the central bank will take a “data-dependent” approach when deciding how to reduce the country’s annual inflation below its long-term goal of 2%.\nTheCME FedWatch Toolpredicts a 93% chance the Fed will maintain the current rate at its next meeting on September 20, up from 88% on Friday.\nInformation to notice in the week ahead includes the S&P’s August U.S. services purchasing manager index (PMI) on Wednesday, as well as a series of Fed official speeches on Thursday.\nMeanwhile, China’s Shanghai Composite Index logged its biggest weekly gains in over a month last Friday, as the country ramped up the policy supports for its ailing post-Covid economic recovery, according toReuterson Monday. China’s economic revival kit includes alleviating home-purchase restrictions in an attempt to stablize its waveringproperty market, as well as the country’s top banks paving ways for moreinterest rate cuts.\n(Updates with equity section.)', 'Cambridge University Presented An Updated Bitcoin Electricity Consumption Index\nCambridge University hasunveileda significant update to itsBitcoin Electricity Consumption Index(CBECI) after three years, leading to a substantial revision in its estimates ofBitcoin\'s global energy consumption by miners.\nThe revised findings indicate that previous estimates of Bitcoin\'s energy usage were greatly overstated. In particular, the CBECI model for 2021 originally estimated Bitcoin\'s electricity consumption at 104 terawatt-hours (TWh), but the revised estimate stands at 89.0 TWh, marking a significant reduction. A terawatt-hour (TWh) is equivalent to one trillion watts of energy output for one hour.\nSimilarly, the 2022 estimate was adjusted down by 9.8 TWh, from 105.3 TWh to 95.5 TWh. This places Bitcoin\'s electricity consumption for that year on par with U.S. tumble dryers at 108 TWh.\nThe university\'s previous method assumed that any "profitable" hardware type introduced over the previous five years contributed equally to the network\'s hashrate. However, after China\'s mining restriction in 2021, the method started displaying its drawbacks.\nAlexander Neumueller, the author of the report, explained that the overestimation was due to not accounting for the increasing efficiency and power of Application Specific Integrated Circuits (ASIC) hardware devices used for mining.\nWhile Cambridge\'s updated methodology incorporated recent hardware mining deliveries, Neumueller acknowledged that certain assumptions and simplifications still applied.\nNevertheless, Cambridge\'s updated index offers a more accurate understanding of Bitcoin\'s energy consumption, with the current estimate for 2023 at 70.4 TWh, according to the university.', 'Cambridge University Presented An Updated Bitcoin Electricity Consumption Index\nCambridge University hasunveileda significant update to itsBitcoin Electricity Consumption Index(CBECI) after three years, leading to a substantial revision in its estimates ofBitcoin\'s global energy consumption by miners.\nThe revised findings indicate that previous estimates of Bitcoin\'s energy usage were greatly overstated. In particular, the CBECI model for 2021 originally estimated Bitcoin\'s electricity consumption at 104 terawatt-hours (TWh), but the revised estimate stands at 89.0 TWh, marking a significant reduction. A terawatt-hour (TWh) is equivalent to one trillion watts of energy output for one hour.\nSimilarly, the 2022 estimate was adjusted down by 9.8 TWh, from 105.3 TWh to 95.5 TWh. This places Bitcoin\'s electricity consumption for that year on par with U.S. tumble dryers at 108 TWh.\nThe university\'s previous method assumed that any "profitable" hardware type introduced over the previous five years contributed equally to the network\'s hashrate. However, after China\'s mining restriction in 2021, the method started displaying its drawbacks.\nAlexander Neumueller, the author of the report, explained that the overestimation was due to not accounting for the increasing efficiency and power of Application Specific Integrated Circuits (ASIC) hardware devices used for mining.\nWhile Cambridge\'s updated methodology incorporated recent hardware mining deliveries, Neumueller acknowledged that certain assumptions and simplifications still applied.\nNevertheless, Cambridge\'s updated index offers a more accurate understanding of Bitcoin\'s energy consumption, with the current estimate for 2023 at 70.4 TWh, according to the university.', 'Cambridge University\'s Updated Bitcoin Electricity Consumption Index Reveals Lower Energy Consumption Cambridge University Presented An Updated Bitcoin Electricity Consumption Index Cambridge University has unveiled a significant update to its Bitcoin Electricity Consumption Index (CBECI) after three years, leading to a substantial revision in its estimates of Bitcoin \'s global energy consumption by miners. The revised findings indicate that previous estimates of Bitcoin\'s energy usage were greatly overstated. In particular, the CBECI model for 2021 originally estimated Bitcoin\'s electricity consumption at 104 terawatt-hours (TWh), but the revised estimate stands at 89.0 TWh, marking a significant reduction. A terawatt-hour (TWh) is equivalent to one trillion watts of energy output for one hour. Similarly, the 2022 estimate was adjusted down by 9.8 TWh, from 105.3 TWh to 95.5 TWh. This places Bitcoin\'s electricity consumption for that year on par with U.S. tumble dryers at 108 TWh. The university\'s previous method assumed that any "profitable" hardware type introduced over the previous five years contributed equally to the network\'s hashrate. However, after China\'s mining restriction in 2021, the method started displaying its drawbacks. Alexander Neumueller, the author of the report, explained that the overestimation was due to not accounting for the increasing efficiency and power of Application Specific Integrated Circuits (ASIC) hardware devices used for mining. While Cambridge\'s updated methodology incorporated recent hardware mining deliveries, Neumueller acknowledged that certain assumptions and simplifications still applied. Nevertheless, Cambridge\'s updated index offers a more accurate understanding of Bitcoin\'s energy consumption, with the current estimate for 2023 at 70.4 TWh, according to the university. View comments', 'Turkey Sees Increased Crypto Adoption Amidst Inflation Concern: Report There Has Been A Noticeable Increase In The Number Of Cryptocurrency Users In Turkey Turkey has witnessed a notable surge in cryptocurrency adoption, with the number of crypto users in the country rising from 40 percent to 52 percent over the past year and a half. The data, collected through responses from 500 participants, is part of KuCoin\'s "Understanding Crypto Users" report, highlighting the growing interest in cryptocurrencies among the Turkish population. According to the findings in Turkey and other previous reports, the rising number and percentage of cryptocurrency investors in Turkey point to a growing interest in and acceptance of crypto as a hedge against inflation, particularly in light of the Turkish lira\'s over 50% loss in value against the US dollar. Similar trends have been observed in countries like Brazil and Nigeria, where inflation has been a pressing concern. The survey revealed that 58 percent of respondents invest in cryptocurrencies primarily to accumulate wealth over the long term, while 37 percent view it as a store of value. Bitcoin remains the most popular cryptocurrency, owned by 71 percent of investors, followed by Ethereum and other stablecoins. Additionally, the research also emphasized the growing involvement of young women in Turkey\'s cryptocurrency sector, with 47% of investors in that age group being female. According to the study, recommendations from friends and family were significant in persuading consumers to invest in cryptocurrencies. The Turkish government has been exploring the development of a central bank digital currency (CBDC) called the Digital Lira, signaling the nation\'s evolving stance on digital finance. View comments', 'There Has Been A Noticeable Increase In The Number Of Cryptocurrency Users In Turkey\nTurkey has witnessed a notable surge in cryptocurrency adoption, with the number of crypto users in the country rising from 40 percent to 52 percent over the past year and a half.\nThe data, collected through responses from 500 participants, is part of KuCoin\'s "Understanding Crypto Users" report, highlighting the growing interest in cryptocurrencies among the Turkish population.\nAccording to the findings in Turkey and other previous reports, the rising number and percentage of cryptocurrency investors in Turkey point to a growing interest in and acceptance of crypto as a hedge against inflation, particularly in light of the Turkish lira\'s over 50% loss in value against the US dollar.\nSimilar trends have been observed in countries like Brazil and Nigeria, where inflation has been a pressing concern.\nThe survey revealed that 58 percent of respondents invest in cryptocurrencies primarily to accumulate wealth over the long term, while 37 percent view it as a store of value.Bitcoinremains the most popular cryptocurrency, owned by 71 percent of investors, followed byEthereumand other stablecoins.\nAdditionally, the research also emphasized the growing involvement of young women in Turkey\'s cryptocurrency sector, with 47% of investors in that age group being female. According to the study, recommendations from friends and family were significant in persuading consumers to invest in cryptocurrencies.\nThe Turkish government has been exploring the development of a central bank digital currency (CBDC) called the Digital Lira, signaling the nation\'s evolving stance on digital finance.', '• BTC-margined contracts now account for 33% of the total futures open interest, up from 20% in July, according toGlassnode.\n• The contracts offer a non-linear payoff, bringing traders to their position-liquidation point faster than cash-margined contracts.\nBitcoin (BTC) is unlikely to shed its tag as an unpredictable and volatile asset any time soon because crypto traders are increasingly using the largest cryptocurrency as a margin in futures trading.\nSince July, the percentage of bitcoin futures open interest margined with bitcoin has risen to 33% from roughly 20%, according to data tracked by Glassnode. Cash or stablecoin-margined contracts still account for 65% of the total open interest.\nFutures are leveraged products, allowing traders to maximize exposure for a deposit at the exchange, known as margin, which is a small percent of the contract size. The exchange provides the rest of the value of the trade. The renewed interest in BTC-margined contracts means potential for volatility-boosting liquidations cascades, according to research provider Blockware Intelligence. That occurs when multiple liquidations – or forced closure of positions due to margin shortage – happen consecutively, causing a rapid price change.\n"Using BTC as collateral for a BTC derivative is effectively a double whammy," analysts at Blockware Intelligence said in a weekly newsletter. "If you\'re long BTC with BTC posted as collateral, the price going down brings you to your liquidation point faster because the value of your collateral is declining at the same time. "Leveraging against your BTC during itsmonetizationphase is extremely risky, [as] you can be correct directionally, but volatility can wipe you out regardless."\nCoin-margined contracts are quoted in U.S. dollars, but margined and settled in cryptocurrencies. In other words, the collateral is as volatile as the position, creating a non-linear payoff, where a trader earns less when the market rallies and loses more when the market drops.\nSo, not only does a long position bleed as bitcoin\'s dollar-denominated price drops, but the collateral also loses value, compounding losses. That, in turn, results in a relatively quick margin shortfall and potential liquidation.\nThe trend is worrying in a sense that should coin-margined contracts become dominant, we may see frequent volatility-boosting liquidations cascades. Such events were quite common before September 2021, when coin-margined contracts accounted for more than 50% of the global open interest.\nAccording to Blockware, the renewed interest in such contracts represents a shortage of cash in the market.\n"The spike in this metric over the past few months is curious, it may suggest that traders are running out of cash and are resorting to leveraging against their BTC as the last means of increasing their exposure," the analysts said.\nLiquidity has been leaving the crypto market for some time. According to CCData, the total market value of all stablecoins contracted by 0.4% to $125 billion in August, the 17th consecutive monthly decline. The market cap of tether (USDT), the world\'s largest stablecoin by market value, has fallen almost $1 billion to $82.87 billion in the past four weeks, CoinGecko data show.\nWe may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see ourEthics Policy.', '• BTC-margined contracts now account for 33% of the total futures open interest, up from 20% in July, according toGlassnode.\n• The contracts offer a non-linear payoff, bringing traders to their position-liquidation point faster than cash-margined contracts.\nBitcoin (BTC) is unlikely to shed its tag as an unpredictable and volatile asset any time soon because crypto traders are increasingly using the largest cryptocurrency as a margin in futures trading.\nSince July, the percentage of bitcoin futures open interest margined with bitcoin has risen to 33% from roughly 20%, according to data tracked by Glassnode. Cash or stablecoin-margined contracts still account for 65% of the total open interest.\nFutures are leveraged products, allowing traders to maximize exposure for a deposit at the exchange, known as margin, which is a small percent of the contract size. The exchange provides the rest of the value of the trade. The renewed interest in BTC-margined contracts means potential for volatility-boosting liquidations cascades, according to research provider Blockware Intelligence. That occurs when multiple liquidations – or forced closure of positions due to margin shortage – happen consecutively, causing a rapid price change.\n"Using BTC as collateral for a BTC derivative is effectively a double whammy," analysts at Blockware Intelligence said in a weekly newsletter. "If you\'re long BTC with BTC posted as collateral, the price going down brings you to your liquidation point faster because the value of your collateral is declining at the same time. "Leveraging against your BTC during itsmonetizationphase is extremely risky, [as] you can be correct directionally, but volatility can wipe you out regardless."\nCoin-margined contracts are quoted in U.S. dollars, but margined and settled in cryptocurrencies. In other words, the collateral is as volatile as the position, creating a non-linear payoff, where a trader earns less when the market rallies and loses more when the market drops.\nSo, not only does a long position bleed as bitcoin\'s dollar-denominated price drops, but the collateral also loses value, compounding losses. That, in turn, results in a relatively quick margin shortfall and potential liquidation.\nThe trend is worrying in a sense that should coin-margined contracts become dominant, we may see frequent volatility-boosting liquidations cascades. Such events were quite common before September 2021, when coin-margined contracts accounted for more than 50% of the global open interest.\nAccording to Blockware, the renewed interest in such contracts represents a shortage of cash in the market.\n"The spike in this metric over the past few months is curious, it may suggest that traders are running out of cash and are resorting to leveraging against their BTC as the last means of increasing their exposure," the analysts said.\nLiquidity has been leaving the crypto market for some time. According to CCData, the total market value of all stablecoins contracted by 0.4% to $125 billion in August, the 17th consecutive monthly decline. The market cap of tether (USDT), the world\'s largest stablecoin by market value, has fallen almost $1 billion to $82.87 billion in the past four weeks, CoinGecko data show.\nWe may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see ourEthics Policy.', 'BTC-margined contracts now account for 33% of the total futures open interest, up from 20% in July, according to Glassnode . The contracts offer a non-linear payoff, bringing traders to their position-liquidation point faster than cash-margined contracts. Bitcoin (BTC) is unlikely to shed its tag as an unpredictable and volatile asset any time soon because crypto traders are increasingly using the largest cryptocurrency as a margin in futures trading. Since July, the percentage of bitcoin futures open interest margined with bitcoin has risen to 33% from roughly 20%, according to data tracked by Glassnode. Cash or stablecoin-margined contracts still account for 65% of the total open interest. Futures are leveraged products, allowing traders to maximize exposure for a deposit at the exchange, known as margin, which is a small percent of the contract size. The exchange provides the rest of the value of the trade. The renewed interest in BTC-margined contracts means potential for volatility-boosting liquidations cascades, according to research provider Blockware Intelligence. That occurs when multiple liquidations – or forced closure of positions due to margin shortage – happen consecutively, causing a rapid price change. "Using BTC as collateral for a BTC derivative is effectively a double whammy," analysts at Blockware Intelligence said in a weekly newsletter. "If you\'re long BTC with BTC posted as collateral, the price going down brings you to your liquidation point faster because the value of your collateral is declining at the same time. "Leveraging against your BTC during its monetization phase is extremely risky, [as] you can be correct directionally, but volatility can wipe you out regardless." Coin-margined contracts are quoted in U.S. dollars, but margined and settled in cryptocurrencies. In other words, the collateral is as volatile as the position, creating a non-linear payoff, where a trader earns less when the market rallies and loses more when the market drops. So, not only does a long position bleed as bitcoin\'s dollar-denominated price drops, but the collateral also loses value, compounding losses. That, in turn, results in a relatively quick margin shortfall and potential liquidation. Interest in BTC-margined futures contracts is increasing. (Glassnode, Blockware Intelligence) The trend is worrying in a sense that should coin-margined contracts become dominant, we may see frequent volatility-boosting liquidations cascades. Such events were quite common before September 2021, when coin-margined contracts accounted for more than 50% of the global open interest. According to Blockware, the renewed interest in such contracts represents a shortage of cash in the market. Story continues "The spike in this metric over the past few months is curious, it may suggest that traders are running out of cash and are resorting to leveraging against their BTC as the last means of increasing their exposure," the analysts said. Liquidity has been leaving the crypto market for some time. According to CCData, the total market value of all stablecoins contracted by 0.4% to $125 billion in August, the 17th consecutive monthly decline. The market cap of tether (USDT), the world\'s largest stablecoin by market value, has fallen almost $1 billion to $82.87 billion in the past four weeks, CoinGecko data show. We may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see our Ethics Policy . View comments', 'When BlackRock’s CEO, Larry Fink, called assettokenization“the next generation for markets,” he emphasized an idea long circulating: that blockchain’s real potential lies in digitally representing tangible assets like stocks, bonds, real estate and even art.\nSimilarly, in the context of Hong Kong’s recent policy pivot, King Leung of InvestHKmentionedexplicitlythat the city’s drive toward becoming a Web3 hub isn’t about securitizing virtual assets like Bitcoin or Solana, but about Hong Kong’s future economic growth, with asset tokenization seen by the government as a “multi-trillion-dollar business opportunity.”\nSuch projections are probably right, and let it be clear that Hong Kong’s moves in favor of a digital assets economy are laudable, but I do think we need to think twice about the implications and critically discuss the underlying assumptions at play.\nSpecifically, asset tokenization and security token offerings (STOs) employ much of the same language as they pertain to Bitcoin and the prospect of decentralized finance. They offer democratized access to tangible assets and inject new liquidity into markets. However, for the sake of public discourse and for stakeholders, investors and policy-makers in particular, I believe it’s essential to contrast this line of innovation with Bitcoin’s foundational ethos.\nAnd so, in this op-ed, we will dissect the promise of STOs, juxtapose it with Bitcoin’s core principles, and question whether STOs, despite their innovative veneer, truly embody the spirit of the original blockchain or instead are set to mirror traditional centralized systems.\nThe excitement around STOs among both Web3 enthusiasts and the leaders of traditional finance signifies a potential paradigm shift. These tokens democratize access to assets, previously the domain of an elite few, aiming not just at wealth creation but also at bridging financial disparities.\nImagine: Owning part of a Picasso artwork or Dubai’s Burj Khalifa is now within reach, not just for status but as a means for everyday people to engage in wealth preservation and growth, bypassing past barriers like hefty costs or elite access.\nWhile fractional shares are somewhat similar, STOs take the idea further. They offer a diverse array of assets, from art and real estate to intellectual property and even future earnings, providing portfolio diversification — a boon for risk management and profit potential.\nFurthermore, STOs hold significant economic promise. They could boost liquidity in markets that are typically illiquid. With assets like high-end art or specific real estate, the usual cycle involves infrequent transactions, drawn-out durations between sales, and other inefficiencies. Tokenization can transform this, allowing for quicker trades of fractions of these assets and infusing much-needed liquidity into these markets. This not only makes them more dynamic but also broadens the base of potential investors.\nBenefiting from blockchain’s transparency and security, security tokens record every transaction, issuance and ownership change, diminishing fraud risks. This transparency provides assurance to investors, especially those cautious of high-stake asset dealings, merging innovation, safety and potential.\nYet, while asset tokenization’s appeal seems apparent, it’s crucial to juxtapose it with the broader digital assets narrative, especially with respect to Bitcoin’s core value proposition, revealing some inherent challenges.\nLong before Bitcoin’s widespread recognition as the pioneering cryptocurrency, its foundational technology evolved from cryptographic research and the push for digital decentralization. This evolution had two goals: reshaping trust and enabling financial autonomy.\nCryptography, which has its origins in wartime code-making and breaking, became a tool for ensuring privacy in the digital age. Distributed ledgers, meanwhile, sought to safeguard against data tampering and ensure resistance to censorship.Proof-of-workmining, beyond mere coin minting, guaranteed consensus on the ledger’s state without central oversight. These three pillars established a trustless environment, where trust shifted from human intermediaries to code and algorithms.\nSatoshi Nakamoto’sBitcoin whitepaper— which came into the world almost 15 years ago — was groundbreaking, presenting a comprehensive answer where earlier concepts, like Nick Szabo’s Bit Gold, had limitations. Introducing the blockchain, Nakamoto addressed the double-spending issue. But it was more than a technical fix; the whitepaper envisioned a financial system that was decentralized, permissionless and without borders. Bitcoin wasn’t just a currency; it was a declaration of independence from traditional financial intermediaries, gatekeepers and border restrictions.\nIn the context of our reflection on STOs and tokenization, this history underscores a crucial point. The evolution leading to Bitcoin was characterized by attempts to remove middlemen and ensure user autonomy over their finances. It was about more than technology; it was about challenging prevailing systems of control and ownership. Thus, as we evaluate the rise of security tokens, we must ask: Do they align with the foundational principles that gave birth to Bitcoin, or do they represent a return to centralized dependencies, albeit in a more modern guise?\nThe blockchain revolution brings to the forefront a philosophical tug-of-war, emphasized by Bitcoin and STOs’ divergent trajectories. Both anchored in blockchain, they propose different financial futures. Their paths underline the tension between yearning for total financial autonomy and gravitating towards familiar centralized architectures.\nBitcoin’s inception challenged the prevailing financial order. It sought, and still does, to bypass traditional banking, empowering individuals. Bitcoin champions direct peer-to-peer transactions of a digital-native cryptocurrency (not to be confused with tokenized fiat currencies such as USDC), pivoting from trusted third parties to a decentralized consensus. Bitcoin’s features, like its proof-of-work, decentralized ledger and fixed supply, jointly uphold the individual’s autonomy, shielding them from inflationary tendencies, fiscal meddling, as well as governmental overreach.\nSTOs, conversely, navigate a more ambiguous course. They leverage blockchain’s advantages — transparency, permanence and safety. Still, their essence often mirrors conventional financial systems. Security tokens represent assets frequently backed by centralized authorities. The token’s worth, whether representing art or real estate, depends on an asset, often certified by a central authority.\nSTOs’ ties to regulations mean they’re not free from intermediation. Demands for regulatory adherence, asset substantiation, and legal validation root them in centralized systems. This might reassure mainstream investors, yet it potentially waters down blockchain’s decentralizing ethos.\nOne of the issues with STOs lies in linking decentralized tokens to tangible assets. In disagreements, who mediates in a decentralized setting? When ownership or authenticity gets contested, who arbitrates? Traditional systems have dispute-resolution processes, but STOs are still finding their footing.\nThen, consider the token’s physical counterpart’s vulnerability. An STO anchored to an artwork, if stolen, damaged or devalued, impacts the token’s worth. Without centralized safety nets, STOs introduce new problems. Furthermore, preserving the tangible asset’s integrity is crucial. Without a central custodian, who ensures, for instance, tokenized real estate isn’t secretly altered? Or for gold-backed tokens, how do holders confirm the gold’s existence and quality?\nThis discussion isn’t meant to undermine STOs but to evaluate their position in the broader blockchain narrative. It underscores that digital assets vary in nature and purpose. Bitcoin envisions a world where individuals navigate their financial course, unrestrained by intermediaries. STOs, though transformative in democratizing asset ownership, might persistently rely on traditional verification. Relying on such traditional systems is not inherently bad and, admittedly, there is room for both Bitcoin’s ideals and the practical utility of STOs in the digital assets space, but it’s important to be aware of the differences.\nTrue innovation doesn’t just lie in the application of new technology but in the profound interrogation of foundational beliefs and practices.\nAs we stand on the cusp of what could be a financial revolution, the true merit of STOs will be tested not just by their ability to inject liquidity but by their resilience in facing the inherent challenges of blending the tangible with the decentralized.', 'When BlackRock’s CEO, Larry Fink, called assettokenization“the next generation for markets,” he emphasized an idea long circulating: that blockchain’s real potential lies in digitally representing tangible assets like stocks, bonds, real estate and even art.\nSimilarly, in the context of Hong Kong’s recent policy pivot, King Leung of InvestHKmentionedexplicitlythat the city’s drive toward becoming a Web3 hub isn’t about securitizing virtual assets like Bitcoin or Solana, but about Hong Kong’s future economic growth, with asset tokenization seen by the government as a “multi-trillion-dollar business opportunity.”\nSuch projections are probably right, and let it be clear that Hong Kong’s moves in favor of a digital assets economy are laudable, but I do think we need to think twice about the implications and critically discuss the underlying assumptions at play.\nSpecifically, asset tokenization and security token offerings (STOs) employ much of the same language as they pertain to Bitcoin and the prospect of decentralized finance. They offer democratized access to tangible assets and inject new liquidity into markets. However, for the sake of public discourse and for stakeholders, investors and policy-makers in particular, I believe it’s essential to contrast this line of innovation with Bitcoin’s foundational ethos.\nAnd so, in this op-ed, we will dissect the promise of STOs, juxtapose it with Bitcoin’s core principles, and question whether STOs, despite their innovative veneer, truly embody the spirit of the original blockchain or instead are set to mirror traditional centralized systems.\nThe excitement around STOs among both Web3 enthusiasts and the leaders of traditional finance signifies a potential paradigm shift. These tokens democratize access to assets, previously the domain of an elite few, aiming not just at wealth creation but also at bridging financial disparities.\nImagine: Owning part of a Picasso artwork or Dubai’s Burj Khalifa is now within reach, not just for status but as a means for everyday people to engage in wealth preservation and growth, bypassing past barriers like hefty cost
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-04
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $505,732,967,412
- Hash Rate: 411978590.8187068
- Transaction Count: 573196.0
- Unique Addresses: 730142.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.40
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: • Elon Musk's X is reportedly looking for a financial-data giant to build a trading hub on the app.
• Musk said on X that "no work is being done on this to the best of my knowledge."
Elon Musk’s soon-to-be super app X, formerly known as Twitter, is looking for a financial-data giant to build a trading hub inside the app, news outlet Semafor reported, citing documents and people familiar with the matter.
According to the documents, X sent a request to financial-data providers in recent weeks asking for proposals on financial content and real-time stock data, among others, Semafor said, adding that It wasn’t clear if any firms had submitted proposals due last week.
The request to the data firms also said that X is offering potential partners a reach of “hundreds of millions of highly qualified users,” but won't compensate them. The firms were asked to put down the amount of money they would be willing to invest in the project, Semafor reported.
Musk, however, said on Xthat “no work is being done on this to the best of my knowledge.” While this is not a direct denial, it could suggest such a service may be in the works but may not be imminent.
This isn't the first time a potential for a trading hub within the X platform was floated. Earlier this year, social investing platform eToro said it is set tooffer trading servicesof crypto and other assets directly to the users of then-called Twitter through an arrangement with the company.
If plans to build an in-app trading hub do go through, given Musk’s affinity for digital assets - specifically meme coin dogecoin (DOGE) — the platform could easily allow the trading of cryptocurrencies on top of other assets, in particular bitcoin (BTC), which potentially be a safe asset to list from a regulatory perspective.
Coinbase CEO Brian Armstrong earlier this week made public that the Securities and Exchange Commission had told him tostop trading all cryptocurrencies but bitcoin, suggesting that regulators wouldn’t have an issue with that particular cryptocurrency.
Musk had previously announced his plans to allow payments on the X platform, initially only in fiat currencies. Still, he was open to the idea of having theoption to add cryptoat a later point.
Muskrefashioned Twitter to Xin July as part of his plans to create an everything-app — much like China’s WeChat — that would allow for a wider variety of services, including payments and gaming. Crypto experts reacted positively to the change, saying that the rebrandingcould be a “game-changer”for the ecosystem.
Read more:Twitter Is Dead. Long Live Crypto Twitter?...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin edged lower on Tuesday morning in Asia to trade below the weekend’s resistance level of US$26,000. Ether dipped to near the US$1,600 mark, while other top 10 non-stablecoin cryptocurrencies traded mixed. XRP posted the biggest gains while Solana led the losers. Digital asset investment products saw a minor outflow last week accompanied by a surge in trading volumes, indicating mixed sentiment among institutional investors. U.S. stock futures traded mixed ahead of regular trading following the long holiday weekend.\nBitcoin dipped 0.57% in the last 24 hours to US$25,804.63 as of 07:30 a.m. in Hong Kong for a weekly loss of 1.15%, according toCoinMarketCapdata. The world’s leading cryptocurrency had been trading in the US$26,000 range since Friday. It briefly breached US$28,000 last Tuesday as an apparent victory for Grayscale Investment against the U.S. Securties and Exchange Commission boosted sentiment. That optimism has now cooled.\nEther dipped 0.49% to US$1,627.26, losing 1.58% over the past seven days.\nThe crypto market is suffering from regulatory uncertainties in the U.S., said Samer Hasn, market analyst for online brokerage XS.com, in an emailed comment. He also noted the effect of large transactions on the market, including a US$213 millionXRPtransaction and a US$37 millionShiba Inutransaction recorded over the weekend.\n“Although the reasons behind the series of huge transfers that we are witnessing in the cryptocurrency market are not yet completely clear, I believe that they may continue to fuel a state of anticipation and caution in the markets, especially since these transfers come amid weak sentiment among market participants, with the continuing battle in the judicial arena in the United States,” Hasn said.\nMeanwhile, Binance’s global head of product Mayur Kamat resigned from the company, Reutersreportedon Monday. The world’s largest crypto exchange faces lawsuits from the U.S.SECand Commodity Futures Trading Commission (CFTC), as well as an investigation from the U.S. Department of Justice (DOJ).\nMost other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours, with movement within the 1% range across the board. XRP led the winners with a 0.61% gain to US$0.5082, but remained 3.01% lower for the week.\nDigital asset investment products saw a minor outflow of US$11.2 million in the week ending Sept. 1. That was a slowdown from US$168 million last week, according to a Mondayreportby European alternative asset manager CoinShares. Despite the small outflow, digital investment products’ trading volume totaled US$2.8 billion,\xa0 a 90% rise on the year-to-date average.\n“The recent minor outflows from digital asset funds may be due to uncertainty around the approval of the spot Bitcoin ETFs — following an initial surge of enthusiasm upon their announcement,” said John Stefanidis, CEO of blockchain infrastructure foundation Balthazar DAO.\n“As we approach the upcoming Bitcoin halving event, it will be interesting to see how these regulatory uncertainties are balanced,” he added.\nThe Bitcoin halving event will see the amount of new tokens issued every 10 minutes cut in half, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price. The next Bitcoin halving is expected to take place in April 2024.\nElsewhere, crypto exchange BybitintroducedTradeGPT on Monday — an artificial intelligence-powered education tool that uses ChatGPT to generate market analysis and answer technical questions based on Bybit’s real-time market data. Other crypto exchanges includingBinance,Crypto.comandOKXalso launched A.I.-powered analyzing tools earlier this year.\nThe total crypto market capitalization dipped 0.56% to US$1.04 trillion. Trading volume rose 20.65% to US$23.77 billion.\nU.S. stock futures were trading lower ahead of the opening bell Tuesday after a holiday-extended weekend for markets. Despite closing mixed on Friday, all three major U.S. indexes posted weekly gains, with Friday’sjobs dataeasing rate hike worries.\nAll the main stock indexes across Asia were showing losses as of 10:00 a.m. in Hong Kong.\nChina’s release of key economic data Tuesday morning cast a cloud over markets. TheCaixin China services purchasing managers index(PMI) — a private gauge of the business activities in the country’s service industry — dropped from 54.1 in July to 51.8 in August, the lowest level in the past eight months. A PMI reading above 50 indicates a growth in business activities, while a sub-50 reading indicates a contraction.\nThe PMI report followed an unexpectedexpansionin China’s manufacturing industry on September 1. But a slowdown of growth in the services industry provides more evidence of a wider economic downturn.\n“The marginal slowdown in the services sector’s supply and demand expansion offset the improvement in manufacturing production and demand,” Wang Zhe, an economist at Caixin Insight Group, told Reuters. “There was still considerable downward pressure on the economy.”\nMeanwhile, Japan’s manufacturing PMI rose from 53.8 in July to 54.3 in August — the highest reading in three months, according toReuterson Tuesday.\n“A stronger improvement in new orders received by Japanese service firms underpinned an acceleration in business activity growth,” Usamah Bhatti, an economist at S&P Global Market Intelligence, told Reuters. “That said, service providers signalled a steeper increase in inflationary pressures during August.”\nInvestors now await a decision on interest rates from the Reserve Bank of Australia expected later Tuesday. Analysts expect the country’s central bank to keep the rate unchanged at 4.10% for the third straight month, Bloombergreportedon Tuesday.\nIn the U.S., the Federal Reserve will meet on Sept. 20 to make its next move on interest rates, which are currently between 5.25% and 5.50%, the highest level in 22 years.\nTheCME FedWatch Toolpredicts a 93% chance the Fed will maintain the current rate unchanged in September, up from 78% on August 28.\nFurther indication of how the Fed’s plan for rates will arrive with a series of official speeches on Thursday. Elsewhere, S&P will release its U.S. services purchasing manager index (PMI) for August on Wednesday.\n(Updates with equity section.)', 'Bitcoin edged lower on Tuesday morning in Asia to trade below the weekend’s resistance level of US$26,000. Ether dipped to near the US$1,600 mark, while other top 10 non-stablecoin cryptocurrencies traded mixed. XRP posted the biggest gains while Solana led the losers. Digital asset investment products saw a minor outflow last week accompanied by a surge in trading volumes, indicating mixed sentiment among institutional investors. U.S. stock futures traded mixed ahead of regular trading following the long holiday weekend.\nBitcoin dipped 0.57% in the last 24 hours to US$25,804.63 as of 07:30 a.m. in Hong Kong for a weekly loss of 1.15%, according toCoinMarketCapdata. The world’s leading cryptocurrency had been trading in the US$26,000 range since Friday. It briefly breached US$28,000 last Tuesday as an apparent victory for Grayscale Investment against the U.S. Securties and Exchange Commission boosted sentiment. That optimism has now cooled.\nEther dipped 0.49% to US$1,627.26, losing 1.58% over the past seven days.\nThe crypto market is suffering from regulatory uncertainties in the U.S., said Samer Hasn, market analyst for online brokerage XS.com, in an emailed comment. He also noted the effect of large transactions on the market, including a US$213 millionXRPtransaction and a US$37 millionShiba Inutransaction recorded over the weekend.\n“Although the reasons behind the series of huge transfers that we are witnessing in the cryptocurrency market are not yet completely clear, I believe that they may continue to fuel a state of anticipation and caution in the markets, especially since these transfers come amid weak sentiment among market participants, with the continuing battle in the judicial arena in the United States,” Hasn said.\nMeanwhile, Binance’s global head of product Mayur Kamat resigned from the company, Reutersreportedon Monday. The world’s largest crypto exchange faces lawsuits from the U.S.SECand Commodity Futures Trading Commission (CFTC), as well as an investigation from the U.S. Department of Justice (DOJ).\nMost other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours, with movement within the 1% range across the board. XRP led the winners with a 0.61% gain to US$0.5082, but remained 3.01% lower for the week.\nDigital asset investment products saw a minor outflow of US$11.2 million in the week ending Sept. 1. That was a slowdown from US$168 million last week, according to a Mondayreportby European alternative asset manager CoinShares. Despite the small outflow, digital investment products’ trading volume totaled US$2.8 billion,\xa0 a 90% rise on the year-to-date average.\n“The recent minor outflows from digital asset funds may be due to uncertainty around the approval of the spot Bitcoin ETFs — following an initial surge of enthusiasm upon their announcement,” said John Stefanidis, CEO of blockchain infrastructure foundation Balthazar DAO.\n“As we approach the upcoming Bitcoin halving event, it will be interesting to see how these regulatory uncertainties are balanced,” he added.\nThe Bitcoin halving event will see the amount of new tokens issued every 10 minutes cut in half, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price. The next Bitcoin halving is expected to take place in April 2024.\nElsewhere, crypto exchange BybitintroducedTradeGPT on Monday — an artificial intelligence-powered education tool that uses ChatGPT to generate market analysis and answer technical questions based on Bybit’s real-time market data. Other crypto exchanges includingBinance,Crypto.comandOKXalso launched A.I.-powered analyzing tools earlier this year.\nThe total crypto market capitalization dipped 0.56% to US$1.04 trillion. Trading volume rose 20.65% to US$23.77 billion.\nU.S. stock futures were trading lower ahead of the opening bell Tuesday after a holiday-extended weekend for markets. Despite closing mixed on Friday, all three major U.S. indexes posted weekly gains, with Friday’sjobs dataeasing rate hike worries.\nAll the main stock indexes across Asia were showing losses as of 10:00 a.m. in Hong Kong.\nChina’s release of key economic data Tuesday morning cast a cloud over markets. TheCaixin China services purchasing managers index(PMI) — a private gauge of the business activities in the country’s service industry — dropped from 54.1 in July to 51.8 in August, the lowest level in the past eight months. A PMI reading above 50 indicates a growth in business activities, while a sub-50 reading indicates a contraction.\nThe PMI report followed an unexpectedexpansionin China’s manufacturing industry on September 1. But a slowdown of growth in the services industry provides more evidence of a wider economic downturn.\n“The marginal slowdown in the services sector’s supply and demand expansion offset the improvement in manufacturing production and demand,” Wang Zhe, an economist at Caixin Insight Group, told Reuters. “There was still considerable downward pressure on the economy.”\nMeanwhile, Japan’s manufacturing PMI rose from 53.8 in July to 54.3 in August — the highest reading in three months, according toReuterson Tuesday.\n“A stronger improvement in new orders received by Japanese service firms underpinned an acceleration in business activity growth,” Usamah Bhatti, an economist at S&P Global Market Intelligence, told Reuters. “That said, service providers signalled a steeper increase in inflationary pressures during August.”\nInvestors now await a decision on interest rates from the Reserve Bank of Australia expected later Tuesday. Analysts expect the country’s central bank to keep the rate unchanged at 4.10% for the third straight month, Bloombergreportedon Tuesday.\nIn the U.S., the Federal Reserve will meet on Sept. 20 to make its next move on interest rates, which are currently between 5.25% and 5.50%, the highest level in 22 years.\nTheCME FedWatch Toolpredicts a 93% chance the Fed will maintain the current rate unchanged in September, up from 78% on August 28.\nFurther indication of how the Fed’s plan for rates will arrive with a series of official speeches on Thursday. Elsewhere, S&P will release its U.S. services purchasing manager index (PMI) for August on Wednesday.\n(Updates with equity section.)', 'Bitcoin edged lower on Tuesday morning in Asia to trade below the weekend’s resistance level of US$26,000. Ether dipped to near the US$1,600 mark, while other top 10 non-stablecoin cryptocurrencies traded mixed. XRP posted the biggest gains while Solana led the losers. Digital asset investment products saw a minor outflow last week accompanied by a surge in trading volumes, indicating mixed sentiment among institutional investors. U.S. stock futures traded mixed ahead of regular trading following the long holiday weekend. Bitcoin below US$26,000 Bitcoin dipped 0.57% in the last 24 hours to US$25,804.63 as of 07:30 a.m. in Hong Kong for a weekly loss of 1.15%, according to CoinMarketCap data. The world’s leading cryptocurrency had been trading in the US$26,000 range since Friday. It briefly breached US$28,000 last Tuesday as an apparent victory for Grayscale Investment against the U.S. Securties and Exchange Commission boosted sentiment. That optimism has now cooled. Ether dipped 0.49% to US$1,627.26, losing 1.58% over the past seven days. The crypto market is suffering from regulatory uncertainties in the U.S., said Samer Hasn, market analyst for online brokerage XS.com, in an emailed comment. He also noted the effect of large transactions on the market, including a US$213 million XRP transaction and a US$37 million Shiba Inu transaction recorded over the weekend. “Although the reasons behind the series of huge transfers that we are witnessing in the cryptocurrency market are not yet completely clear, I believe that they may continue to fuel a state of anticipation and caution in the markets, especially since these transfers come amid weak sentiment among market participants, with the continuing battle in the judicial arena in the United States,” Hasn said. Meanwhile, Binance’s global head of product Mayur Kamat resigned from the company, Reuters reported on Monday. The world’s largest crypto exchange faces lawsuits from the U.S. SEC and Commodity Futures Trading Commission ( CFTC ), as well as an investigation from the U.S. Department of Justice ( DOJ ). Story continues Most other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours, with movement within the 1% range across the board. XRP led the winners with a 0.61% gain to US$0.5082, but remained 3.01% lower for the week. Digital asset investment products saw a minor outflow of US$11.2 million in the week ending Sept. 1. That was a slowdown from US$168 million last week, according to a Monday report by European alternative asset manager CoinShares. Despite the small outflow, digital investment products’ trading volume totaled US$2.8 billion,\xa0 a 90% rise on the year-to-date average. “The recent minor outflows from digital asset funds may be due to uncertainty around the approval of the spot Bitcoin ETFs — following an initial surge of enthusiasm upon their announcement,” said John Stefanidis, CEO of blockchain infrastructure foundation Balthazar DAO. “As we approach the upcoming Bitcoin halving event, it will be interesting to see how these regulatory uncertainties are balanced,” he added. The Bitcoin halving event will see the amount of new tokens issued every 10 minutes cut in half, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price. The next Bitcoin halving is expected to take place in April 2024. Elsewhere, crypto exchange Bybit introduced TradeGPT on Monday — an artificial intelligence-powered education tool that uses ChatGPT to generate market analysis and answer technical questions based on Bybit’s real-time market data. Other crypto exchanges including Binance , Crypto.com and OKX also launched A.I.-powered analyzing tools earlier this year. The total crypto market capitalization dipped 0.56% to US$1.04 trillion. Trading volume rose 20.65% to US$23.77 billion. U.S. stock futures dip; China services activity slows Image: Getty Images U.S. stock futures were trading lower ahead of the opening bell Tuesday after a holiday-extended weekend for markets. Despite closing mixed on Friday, all three major U.S. indexes posted weekly gains, with Friday’s jobs data easing rate hike worries. All the main stock indexes across Asia were showing losses as of 10:00 a.m. in Hong Kong. China’s release of key economic data Tuesday morning cast a cloud over markets. The Caixin China services purchasing managers index (PMI) — a private gauge of the business activities in the country’s service industry — dropped from 54.1 in July to 51.8 in August, the lowest level in the past eight months. A PMI reading above 50 indicates a growth in business activities, while a sub-50 reading indicates a contraction. The PMI report followed an unexpected expansion in China’s manufacturing industry on September 1. But a slowdown of growth in the services industry provides more evidence of a wider economic downturn. “The marginal slowdown in the services sector’s supply and demand expansion offset the improvement in manufacturing production and demand,” Wang Zhe, an economist at Caixin Insight Group, told Reuters. “There was still considerable downward pressure on the economy.” Meanwhile, Japan’s manufacturing PMI rose from 53.8 in July to 54.3 in August — the highest reading in three months, according to Reuters on Tuesday. “A stronger improvement in new orders received by Japanese service firms underpinned an acceleration in business activity growth,” Usamah Bhatti, an economist at S&P Global Market Intelligence, told Reuters. “That said, service providers signalled a steeper increase in inflationary pressures during August.” Investors now await a decision on interest rates from the Reserve Bank of Australia expected later Tuesday. Analysts expect the country’s central bank to keep the rate unchanged at 4.10% for the third straight month, Bloomberg reported on Tuesday. In the U.S., the Federal Reserve will meet on Sept. 20 to make its next move on interest rates, which are currently between 5.25% and 5.50%, the highest level in 22 years. The CME FedWatch Tool predicts a 93% chance the Fed will maintain the current rate unchanged in September, up from 78% on August 28. Further indication of how the Fed’s plan for rates will arrive with a series of official speeches on Thursday. Elsewhere, S&P will release its U.S. services purchasing manager index (PMI) for August on Wednesday. (Updates with equity section.)', '(Our regular analysis of the wild world of cryptocurrencies. Repeats for additional subscribers) By Lisa Pauline Mattackal and Medha Singh Sept 5 (Reuters) - For venture capitalists, the scars of bitcoin\'s disastrous 2022 run deep. While breezy bitcoin has bounced back, leaping by about 55% this year, investments in crypto startups have dropped for the fifth straight quarter. VC crypto bets totaled just under $2.3 billion in April-July this year, the lowest quarterly level for over three years, according to data firm PitchBook. In the first half of 2023, investments were down by almost three-quarters from a year ago to $5 billion. "The lofty exuberant valuation days are gone," said Tal Elyashiv, founder and managing partner of SPiCE VC, adding that valuations place on crypto companies had fallen closer in line with their actual performance. Crypto investors remain haunted by the chaos that descended on the sector last year when the implosion of the FTX exchange and other major firms, including hedge fund Three Arrows Capital, sent shockwaves through the industry. U.S. regulatory scrutiny has also tightened on the industry. "The biggest change from the height of the market is more time to do deeper diligence," said Cameron Peake, partner at Restive Ventures. "There\'s not necessarily anything new that is happening, except that funds are actually doing diligence now. Deals are no longer closing in mere days." The number of deals that were sealed by the halfway mark of 2023 was 814, down by more than half of 1,862 from the same period in 2022, PitchBook data showed. "Almost every company in the space tightened up in the aftermath of the carnage of 2022. Those that are raising capital now are probably doing it because they have to," said Adam Reeds, CEO of Toronto-based crypto finance company Ledn. "I wouldn\'t be surprised if in the near term that changes from \'have to have\' raises to \'nice to have\' raises." Story continues If bitcoin prices are any indication, the investment slump may be short-lived. VC crypto investments have correlated with crypto asset prices with a lag of roughly three to six months, according to PitchBook, and if current trends continue, VC investment would rise during the second half of 2023. Bitcoin, which fell 65% last year, jumped over 90% in the first six months of 2023 bitcoin and is now up about 55% year-to-date, at $25,881. Still, it is trading at a third of its 2021 peak of $69,000. METAVERSE? NFTs? There has also been a shift in the type of VC investment targets, according to the PitchBook data. A year ago, the focus was on companies tied to speculative non-fungible tokens, as well as metaverse and Web3 projects that sought to build a future - but still unrealized - iteration of the internet with crypto at its core. Now, though, crypto bets have shifted towards firms that provide the platform or support the underlying technology of blockchain or cryptocurrencies. Infrastructure firms such as crypto exchanges, wallets and other fintechs attracted the most investments in 2023 at $325 million, followed by blockchain networks at $220 million and Web3 companies at $274.6 million, according to PitchBook. In the second quarter, the only two funding rounds over $100 million were scored by LayerZero, a platform that connects two blockchains, and digital identity platform WorldCoin. "Institutional investors are looking for things that are more durable," said Alyse Killeen, founder and managing partner of bitcoin-focused venture firm Stillmark. "We\'re seeing less appetite for risk and more appetite for sustaining technology." (Reporting by Medha Singh and Lisa Pauline Mattackal in Bengaluru; Editing by Tom Wilson and Pravin Char)', 'By Lisa Pauline Mattackal and Medha Singh\n(Reuters) - For venture capitalists, the scars of bitcoin\'s disastrous 2022 run deep.\nWhile breezy bitcoin has bounced back, leaping by about 55% this year, investments in crypto startups have dropped for the fifth straight quarter.\nVC crypto bets totaled just under $2.3 billion in April-July this year, the lowest quarterly level for over three years, according to data firm PitchBook. In the first half of 2023, investments were down by almost three-quarters from a year ago to $5 billion.\n"The lofty exuberant valuation days are gone," said Tal Elyashiv, founder and managing partner of SPiCE VC, adding that valuations place on crypto companies had fallen closer in line with their actual performance.\nCrypto investors remain haunted by the chaos that descended on the sector last year when the implosion of the FTX exchange and other major firms, including hedge fund Three Arrows Capital, sent shockwaves through the industry.\nU.S. regulatory scrutiny has also tightened on the industry.\n"The biggest change from the height of the market is more time to do deeper diligence," said Cameron Peake, partner at Restive Ventures. "There\'s not necessarily anything new that is happening, except that funds are actually doing diligence now. Deals are no longer closing in mere days."\nThe number of deals that were sealed by the halfway mark of 2023 was 814, down by more than half of 1,862 from the same period in 2022, PitchBook data showed.\n"Almost every company in the space tightened up in the aftermath of the carnage of 2022. Those that are raising capital now are probably doing it because they have to," said Adam Reeds, CEO of Toronto-based crypto finance company Ledn.\n"I wouldn\'t be surprised if in the near term that changes from \'have to have\' raises to \'nice to have\' raises."\nIf bitcoin prices are any indication, the investment slump may be short-lived.\nVC crypto investments have correlated with crypto asset prices with a lag of roughly three to six months, according to PitchBook, and if current trends continue, VC investment would rise during the second half of 2023.\nBitcoin, which fell 65% last year, jumped over 90% in the first six months of 2023 bitcoin and is now up about 55% year-to-date, at $25,881. Still, it is trading at a third of its 2021 peak of $69,000.\nMETAVERSE? NFTs?\nThere has also been a shift in the type of VC investment targets, according to the PitchBook data.\nA year ago, the focus was on companies tied to speculative non-fungible tokens, as well as metaverse and Web3 projects that sought to build a future - but still unrealized - iteration of the internet with crypto at its core.\nNow, though, crypto bets have shifted towards firms that provide the platform or support the underlying technology of blockchain or cryptocurrencies.\nInfrastructure firms such as crypto exchanges, wallets and other fintechs attracted the most investments in 2023 at $325 million, followed by blockchain networks at $220 million and Web3 companies at $274.6 million, according to PitchBook.\nIn the second quarter, the only two funding rounds over $100 million were scored by LayerZero, a platform that connects two blockchains, and digital identity platform WorldCoin.\n"Institutional investors are looking for things that are more durable," said Alyse Killeen, founder and managing partner of bitcoin-focused venture firm Stillmark.\n"We\'re seeing less appetite for risk and more appetite for sustaining technology."\n(Reporting by Medha Singh and Lisa Pauline Mattackal in Bengaluru; Editing by Tom Wilson and Pravin Char)', 'By Lisa Pauline Mattackal and Medha Singh (Reuters) - For venture capitalists, the scars of bitcoin\'s disastrous 2022 run deep. While breezy bitcoin has bounced back, leaping by about 55% this year, investments in crypto startups have dropped for the fifth straight quarter. VC crypto bets totaled just under $2.3 billion in April-July this year, the lowest quarterly level for over three years, according to data firm PitchBook. In the first half of 2023, investments were down by almost three-quarters from a year ago to $5 billion. "The lofty exuberant valuation days are gone," said Tal Elyashiv, founder and managing partner of SPiCE VC, adding that valuations place on crypto companies had fallen closer in line with their actual performance. Crypto investors remain haunted by the chaos that descended on the sector last year when the implosion of the FTX exchange and other major firms, including hedge fund Three Arrows Capital, sent shockwaves through the industry. U.S. regulatory scrutiny has also tightened on the industry. "The biggest change from the height of the market is more time to do deeper diligence," said Cameron Peake, partner at Restive Ventures. "There\'s not necessarily anything new that is happening, except that funds are actually doing diligence now. Deals are no longer closing in mere days." The number of deals that were sealed by the halfway mark of 2023 was 814, down by more than half of 1,862 from the same period in 2022, PitchBook data showed. "Almost every company in the space tightened up in the aftermath of the carnage of 2022. Those that are raising capital now are probably doing it because they have to," said Adam Reeds, CEO of Toronto-based crypto finance company Ledn. "I wouldn\'t be surprised if in the near term that changes from \'have to have\' raises to \'nice to have\' raises." If bitcoin prices are any indication, the investment slump may be short-lived. VC crypto investments have correlated with crypto asset prices with a lag of roughly three to six months, according to PitchBook, and if current trends continue, VC investment would rise during the second half of 2023. Bitcoin, which fell 65% last year, jumped over 90% in the first six months of 2023 bitcoin and is now up about 55% year-to-date, at $25,881. Still, it is trading at a third of its 2021 peak of $69,000. METAVERSE? NFTs? There has also been a shift in the type of VC investment targets, according to the PitchBook data. A year ago, the focus was on companies tied to speculative non-fungible tokens, as well as metaverse and Web3 projects that sought to build a future - but still unrealized - iteration of the internet with crypto at its core. Story continues Now, though, crypto bets have shifted towards firms that provide the platform or support the underlying technology of blockchain or cryptocurrencies. Infrastructure firms such as crypto exchanges, wallets and other fintechs attracted the most investments in 2023 at $325 million, followed by blockchain networks at $220 million and Web3 companies at $274.6 million, according to PitchBook. In the second quarter, the only two funding rounds over $100 million were scored by LayerZero, a platform that connects two blockchains, and digital identity platform WorldCoin. "Institutional investors are looking for things that are more durable," said Alyse Killeen, founder and managing partner of bitcoin-focused venture firm Stillmark. "We\'re seeing less appetite for risk and more appetite for sustaining technology." (Reporting by Medha Singh and Lisa Pauline Mattackal in Bengaluru; Editing by Tom Wilson and Pravin Char) View comments', 'Last Week on Crypto Twitter: A Work Of Bart Gm, Another week, another pump and dump by the crypto market. Blame that little rascal Bart Simpson: How bearish was Crypto Twitter this week? Let’s find out… Whose Threads Are A Must-Read? GambleFi is trying to cling on to the “narrative of the moment” hotseat. Beacon Early is a small narrative hunter account with a good overview of the state of the GambleFi market at the moment: Rollbit remains the king of GambleFi, but plenty of other projects are trying to ride its tailcoats to success. Read also : Decentralized Casinos: The Crypto GambleFi Narrative A big-brain thread came from Stephen Palley last week. Crypto often gets shilled as the best thing since sliced bread, but is “code is law” really much better than the law we already have? Stephen’s thread about crypto and risk argues that crypto does not make risk disappear – it just moves it: Read also : Centralization Risk in Crypto: How Decentralized Is Crypto? Crypto’s new darling country is Argentina . Not because of Leo Messi, steaks or gauchos but because Javier Milei, the front-runner to become Argentina’s next president, is a staunch proponent of Bitcoin. But if elected, he will have his hands full cause Argentina is on the cusp of hyperinflation . And this thread explains all you have to know about that: Read also : The Rise of Crypto Adoption in Argentina Last one on this week’s list is Cold Blooded Shiller, who shared a somber view of the state of the market at the moment. TLDR: it’s not looking good… Read also : According to CMC: Crypto Market Analysis H1 2023 Wisdom of the Week This week’s wisdom: if you just made your first big win, cash it out. Elon Building X X is trying to shake off its Twitter-ness, with Elon introducing new features. Soon, you will be able to call your favorite influenza and ask why they dumped on you: Can’t wait to see where we’ll be a year from now! Probably shouting at each other over the election… Talk of the Town Crypto town was rather quiet this week. There was some drama around crypto’s favorite YouTube personality Ben ‘Bitboy’ armstrong. Who is not Bitboy anymore: Story continues Much sad! So missing! How will crypto succeed without Ben? Maybe not at all. Duck is thinking the window for crypto is shrinking, not increasing: This sparked a somewhat lively discussion in this ghost town. Since it’s a bear market, every penny counts, so we cannot possibly give away that sweet sweet ad revenue share by quoting someone: Some are just bullish on people becoming more degenerate, sorry, have shorter attention spans and higher dopamine tolerance. So it could just become memecoin maximalism investing: Interesting discussion, to which the answer will be more obvious in a few months. Hopefully, by then, Bart will stop drawing the markets with his endless pattern. The Grayscale court win was the leg up of his haircut. It sent Crypto Twitter into a 50-hour bullish frenzy, fantasizing about how the SEC is down bad: We were so back on that glorious Tuesday! But Bart is up to no good, so he completed his annoying haircut two days later when the Bitcoin spot ETFs got delayed (again): An easy market, it is not: But it still seems a question of wen , not if. Even former SEC chair Jay Clayton thinks the spot ETF will come cause everyone wants those sweet sweet gains from pumping a new asset class: Our Favorite Coinfession We do not post Coinfessions every week, but when we do, they should be a cautionary tale for you: Memes Meme of the week is this little fella: Don’t underestimate the danger of crabs! See you next week!', 'Gm,\nAnother week, anotherpump and dumpby the crypto market. Blame that little rascal Bart Simpson:\nHow bearish was Crypto Twitter this week?\nLet’s find out…\nGambleFi is trying to cling on to the “narrative of the moment” hotseat. Beacon Early is a small narrative hunter account with a good overview of the state of the GambleFi market at the moment:\nRollbit remains the king of GambleFi, but plenty of other projects are trying to ride its tailcoats to success.\nRead also:Decentralized Casinos: The Crypto GambleFi Narrative\nA big-brain thread came from Stephen Palley last week. Crypto often gets shilled as the best thing since sliced bread, but is “code is law” really much better than the law we already have? Stephen’s thread aboutcrypto and riskargues that crypto does not make risk disappear – it just moves it:\nRead also:Centralization Risk in Crypto: How Decentralized Is Crypto?\nCrypto’s new darling country isArgentina. Not because of Leo Messi, steaks or gauchos but because Javier Milei, the front-runner to become Argentina’s next president, is a staunch proponent of Bitcoin. But if elected, he will have his hands full cause Argentina is on the cusp ofhyperinflation.\nAnd this thread explains all you have to know about that:\nRead also:The Rise of Crypto Adoption in Argentina\nLast one on this week’s list is Cold Blooded Shiller, who shared a somber view of thestate of the marketat the moment. TLDR: it’s not looking good…\nRead also:According to CMC: Crypto Market Analysis H1 2023\nThis week’s wisdom: if you just made your first big win, cash it out.\nX is trying to shake off its Twitter-ness, with Elon introducing new features.\nSoon, you will be able to call your favorite influenza and ask why they dumped on you:\nCan’t wait to see where we’ll be a year from now! Probably shouting at each other over the election…\nCrypto town was rather quiet this week.\nThere was some drama around crypto’s favorite YouTube personality Ben ‘Bitboy’ armstrong. Who is not Bitboy anymore:\nMuch sad! So missing! How will crypto succeed without Ben?\nMaybe not at all. Duck is thinking the window for crypto is shrinking, not increasing:\nThis sparked a somewhat lively discussion in this ghost town. Since it’s a bear market, every penny counts, so we cannot possibly give away that sweet sweet ad revenue share by quoting someone:\nSome are just bullish on people becoming more degenerate, sorry, have shorter attention spans and higher dopamine tolerance. So it could just become memecoin maximalism investing:\nInteresting discussion, to which the answer will be more obvious in a few months. Hopefully, by then, Bart will stop drawing the markets with his endless pattern.\nThe Grayscale court win was the leg up of his haircut. It sent Crypto Twitter into a 50-hour bullish frenzy, fantasizing about how the SEC is down bad:\nWe wereso backon that glorious Tuesday!\nBut Bart is up to no good, so he completed his annoying haircut two days later when the Bitcoin spot ETFs got delayed (again):\nAn easy market, it is not:\nBut it still seems a question ofwen, not if. Even former SEC chair Jay Clayton thinks the spot ETF will come cause everyone wants those sweet sweet gains from pumping a new asset class:\nWe do not post Coinfessions every week, but when we do, they should be a cautionary tale for you:\nMeme of the week is this little fella:\nDon’t underestimate the danger of crabs!\nSee you next week!', 'Blockchain innovation in the U.S. could suffer from over-regulation of the crypto industry, former White House director of cybersecurity Carole House said during a panel discussion Tuesday at Korea Blockchain Week in Seoul.\nSee related article:SEC delays verdict on BlackRock’s ETF application; Will Bitcoin ETFs see light of day?\n• House said that “overly harsh” crypto regulation in the U.S. could work to prevent blockchain’s development as a foundation for key infrastructure. High profile cases of fraud in the crypto industry has created a sense that the underlying technology is at fault when it is actually “a fault of people and businesses,” she said.\n• The cybersecurity expert said that she sees “great potential” in blockchain technology in areas such as identity verification and supply chain transparency. She said that the development of use cases in key infrastructure is a separate issue to blockchain’s use in finance, where much of the majority of regulatory scrutiny is aimed. Regulators should treat the two fields separately, she added.\n• House said that the U.S. government is trying to drive competitiveness in blockchain technology — a contrast to what many see as an attempt to constrain the industry by regulators including the Securities and Exchange Commission (SEC) led by Gary Gensler.\n• The SEC’sclampdownon the crypto industry is driving a lot of headlines. But House said that the current period of increased scrutiny has been a long time in the making. “Enforcement actions actually take many years to come to fruition. So a lot of this effort that you’re seeing now culminating in enforcement actions is because of something that’s been a priority for many years,” House said.\n• When discussing U.S. regulatory action, House drew comparisons to Asia, where various jurisdictions including Hong Kong, Singapore and Japan have adopted comparativelypro-cryptoregulatory frameworks over the past year.\n• “I really do think that the Asia-Pacific whole region has been a powerhouse driver [in crypto regulations],” said House. As an example, she highlighted Japan’s regulatory framework, which she said has contributed to creating global anti-money laundering standards.\n• House was formerly the senior policy officer for cyber and emerging technologies at the Financial Crimes Enforcement Network (FinCEN). She was director of cybersecurity and secure digital innovation at the White House from 2021 to 2022.\nSee related article:Financial Stability Board recommends stricter global crypto regulation after year of industry blow-ups', 'Bitcoin (BTC) bulls may be in for a disappointment, Fairlead Strategies said, as a monthly technical indicator has flashed an "overbought downturn" signal.\nThestochastic indicator, developed by George C. Lane in the 1950s, recently turned down from above 80, indicating a loss of upward momentum. The indicator oscillates between 0 and 100 with readings above 80 implying overbought conditions. Readings below 20 suggest the opposite. A turn lower from overbought levels represents a so-called overbought downturn, which indicates a weakening of upward momentum.\n"At the end of August, bitcoin confirmed an overbought downturn in its monthly stochastics in a setback," Katie Stockton, Fairlead Strategies\' founder and managing partner, said in a note to clients on Monday. "The downturn suggests the basing process may be drawn out, especially given the overhang of the monthly cloud model, which enhances resistance (~$31.9K) from the weekly cloud model."\nThe comment refers to bitcoin\'s repeated failure to scale the so-called"cloud resistance" at $31,900in the past few months and points to a long, drawn-out basing or bottoming process. That\'s "a setback toward a long-term turnaround," Stockton wrote.\nPrevious overbought downturns in early 2021 and December 2017 marked major price tops.\nThe monthly MACD histogram, an indicator used to gauge trend strength and trend changes, is flatlined near zero, indicating neutral long-term bias.\nCrossovers above zero indicate a bullish shift in momentum, while a drop below zero represents a bearish trend change. While the indicator bottomed out a year ago and has yet to turn positive "suggesting a sustainable uptrend is not yet in force," Stockton noted.\nBitcoin changed hands at $25,700 at press time. According to Stockton, the immediate support is seen at $25,200 while the 50-day simple moving average at $28,200 is key resistance.', 'Bitcoin ( BTC ) bulls may be in for a disappointment, Fairlead Strategies said, as a monthly technical indicator has flashed an "overbought downturn" signal. The stochastic indicator , developed by George C. Lane in the 1950s, recently turned down from above 80, indicating a loss of upward momentum. The indicator oscillates between 0 and 100 with readings above 80 implying overbought conditions. Readings below 20 suggest the opposite. A turn lower from overbought levels represents a so-called overbought downturn, which indicates a weakening of upward momentum. "At the end of August, bitcoin confirmed an overbought downturn in its monthly stochastics in a setback," Katie Stockton, Fairlead Strategies\' founder and managing partner, said in a note to clients on Monday. "The downturn suggests the basing process may be drawn out, especially given the overhang of the monthly cloud model, which enhances resistance (~$31.9K) from the weekly cloud model." The comment refers to bitcoin\'s repeated failure to scale the so-called "cloud resistance" at $31,900 in the past few months and points to a long, drawn-out basing or bottoming process. That\'s "a setback toward a long-term turnaround," Stockton wrote. Stochastic has printed an overbought downturn. (Fairlead Strategies, TradingView) Previous overbought downturns in early 2021 and December 2017 marked major price tops. The monthly MACD histogram, an indicator used to gauge trend strength and trend changes, is flatlined near zero, indicating neutral long-term bias. Crossovers above zero indicate a bullish shift in momentum, while a drop below zero represents a bearish trend change. While the indicator bottomed out a year ago and has yet to turn positive "suggesting a sustainable uptrend is not yet in force," Stockton noted. Bitcoin changed hands at $25,700 at press time. According to Stockton, the immediate support is seen at $25,200 while the 50-day simple moving average at $28,200 is key resistance. View comments', 'Bitcoin (BTC) bulls may be in for a disappointment, Fairlead Strategies said, as a monthly technical indicator has flashed an "overbought downturn" signal.\nThestochastic indicator, developed by George C. Lane in the 1950s, recently turned down from above 80, indicating a loss of upward momentum. The indicator oscillates between 0 and 100 with readings above 80 implying overbought conditions. Readings below 20 suggest the opposite. A turn lower from overbought levels represents a so-called overbought downturn, which indicates a weakening of upward momentum.\n"At the end of August, bitcoin confirmed an overbought downturn in its monthly stochastics in a setback," Katie Stockton, Fairlead Strategies\' founder and managing partner, said in a note to clients on Monday. "The downturn suggests the basing process may be drawn out, especially given the overhang of the monthly cloud model, which enhances resistance (~$31.9K) from the weekly cloud model."\nThe comment refers to bitcoin\'s repeated failure to scale the so-called"cloud resistance" at $31,900in the past few months and points to a long, drawn-out basing or bottoming process. That\'s "a setback toward a long-term turnaround," Stockton wrote.\nPrevious overbought downturns in early 2021 and December 2017 marked major price tops.\nThe monthly MACD histogram, an indicator used to gauge trend strength and trend changes, is flatlined near zero, indicating neutral long-term bias.\nCrossovers above zero indicate a bullish shift in momentum, while a drop below zero represents a bearish trend change. While the indicator bottomed out a year ago and has yet to turn positive "suggesting a sustainable uptrend is not yet in force," Stockton noted.\nBitcoin changed hands at $25,700 at press time. According to Stockton, the immediate support is seen at $25,200 while the 50-day simple moving average at $28,200 is key resistance.', 'KOREA BLOCKCHAIN WEEK, SEOUL – By all accounts, the United States should be heading into a recession, and risk assets like bitcoin, or tech stocks such as Nvidia (NVDA), should be nowhere near their current values, thanks to thesteepestFederal Reserve (Fed) rate hike cycle in decades. But the opposite is happening. Economists have increasinglycourse correctedon their recession forecasts, bitcoin has doubled since crypto exchange FTX’s multibillion collapse, and Nvidia shares are soaring.\n“It\'s different than what\'s happened before. The standard playbook is starting to break down,” Arthur Hayes, the founder of BitMEX and current Chief Investment Officer at Maelstrom, said during a keynote at Korea Blockchain Week attended by CoinDesk.\nHayes argued that the Federal Reserve\'s moves to raise interest rates to combat inflation have had unintended consequences on the broader economy.\nRising financial asset prices can boost capital gains taxes and government revenue, but when the Fed raises interest rates, these prices can stagnate, reducing tax revenue, Hayes opined.\n“All the while, this, coupled with the political hostility of austerity, increases deficits, leading the U.S. Treasury to issue more bonds. The resulting interest payments to the wealthy stimulate spending and nominal GDP growth, creating a paradox where the Fed\'s rate hikes inadvertently fuel economic growth," Hayes said.\n"Whether the Fed raises or cuts, we\'re in a good position as a cryptocurrency industry," Hayes added.\nIn a follow-up interview with CoinDesk, Hayes gave a preview of his speech he’s set to give later this month at Token 2049 in Singapore.\nHayes argued that AI companies, due to their significant cash reserves and robust revenue streams, are less reliant on banks for loans or credit than traditional businesses.\n“I believe that the global government bond market is basically going to be the one that defaults unless the global central banks print more money," he said, pointing out that this would significantly strain the banking system.\n“I don\'t want to own regular businesses because regular businesses need credit. And central banks are paying rates that are incredibly expensive, and the banking system is broke. But AI companies don\'t need banks," he continued. "If I have extra cash, I\'m not going to invest in General Motors, I\'m gonna invest in Nvidia."\nFilecoin (FIL), in Hayes’ opinion, is a big beneficiary of this AI-crypto crossover.\nFilecoin, which has already experienced a massive hype cycle and saw a significant drop from its peak, is positioned to grow due to the increasing amount of computational power (PetaFLOPS) being added to its network, Hayes argued.\nHowever, Hayes warns that investing in AI now might not yield immediate returns.\nHayes argues that many companies in the space are overvalued, have a lengthy timeline to an IPO or a long token lockup period, and might just have a poor product-market fit with a high number of users but a low number of paying subscribers, meaning that many retail investors might not see a return for a long time if ever.\nBut this mania might come crashing down. The convergence of three manias—AI, crypto, and money printing—will lead to a significant asset bubble.\n"These three manias together are going to produce the 80-year biggest asset bubble that we\'ve had since the Great Depression in the 1930s," Hayes noted.', 'KOREA BLOCKCHAIN WEEK, SEOUL – By all accounts, the United States should be heading into a recession, and risk assets like bitcoin, or tech stocks such as Nvidia (NVDA), should be nowhere near their current values, thanks to thesteepestFederal Reserve (Fed) rate hike cycle in decades. But the opposite is happening. Economists have increasinglycourse correctedon their recession forecasts, bitcoin has doubled since crypto exchange FTX’s multibillion collapse, and Nvidia shares are soaring.\n“It\'s different than what\'s happened before. The standard playbook is starting to break down,” Arthur Hayes, the founder of BitMEX and current Chief Investment Officer at Maelstrom, said during a keynote at Korea Blockchain Week attended by CoinDesk.\nHayes argued that the Federal Reserve\'s moves to raise interest rates to combat inflation have had unintended consequences on the broader economy.\nRising financial asset prices can boost capital gains taxes and government revenue, but when the Fed raises interest rates, these prices can stagnate, reducing tax revenue, Hayes opined.\n“All the while, this, coupled with the political hostility of austerity, increases de
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-05
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $501,351,021,750
- Hash Rate: 342854666.18469554
- Transaction Count: 462093.0
- Unique Addresses: 753968.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.40
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: By Dietrich Knauth NEW YORK (Reuters) - Crypto lender Celsius Network on Monday received a U.S. bankruptcy judge's permission to seek creditor approval for its bankruptcy plan, advancing a proposal to exit Chapter 11 as a new entity owned by its creditors. Judge Martin Glenn signed off on Celsius's disclosure statement and solicitation materials at a U.S. Bankruptcy Court hearing in Manhattan, saying Celsius had given creditors sufficient information to vote on the proposed restructuring. Some creditors oppose the plan, but the official committee appointed to represent junior creditors supports it and will recommend that Celsius customers vote in favor. New Jersey-based Celsius filed for Chapter 11 protection in July 2022, one of several crypto lenders to go bankrupt following the rapid growth of the industry during the COVID-19 pandemic. Celsius had 600,000 customers who held about $4.4 billion in interest-bearing Celsius accounts when it filed for bankruptcy, according to court documents. Celsius's bankruptcy plan would return some crypto deposits to retail customers and hand control of remaining business lines - including bitcoin mining and staking - to the Fahrenheit Group, a consortium that includes blockchain-based venture capital firm Arrington Capital. Celsius estimates that most of its customers, who had interest-bearing Earn accounts, will receive a 67% recovery, through return of liquid crypto assets like Bitcoin and Ether, equity shares in the new company, and proceeds of post-bankruptcy litigation against company founder Alex Mashinsky and others. Customers will generally receive a higher recovery on other, non-interest-bearing accounts. Fahrenheit will buy a minority stake in the new business for $50 million and will publicly list the new company's stock on Nasdaq. This will allow Celsius customers to sell equity shares that they will receive as part of their bankruptcy recovery, according to court documents. Story continues The reorganized company will pursue litigation against Mashinsky, who already faces U.S. criminal charges and a New York civil lawsuit for allegedly misleading customers and artificially inflating the value of his company's propriety crypto token. Mashinsky has pleaded not guilty. Celsius creditors have a Sept. 20 deadline to submit votes on the proposal, and Celsius intends to seek final court approval of its restructuring plan on Oct. 2, according to court documents. (Reporting by Dietrich Knauth, Editing by Alexia Garamfalvi and David Gregorio)...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["Grayscale Investments is urging the SEC to approve its\xa0request to convert its bitcoin trust into an ETF and has asked the agency to meet with them as quickly as possible after a court ruled against the agency's refusal to review Grayscale’s application.\nThe crypto asset manager delivered a letter on Sept. 5 to the regulator urging it to approve the conversion of the $16 billion Grayscale Bitcoin Trust into an exchange-traded fund.\nThe letter sent by Grayscale’s lawyers argued that the filing to turn the Grayscale Bitcoin Trust into an ETF has been “pending for nearly three times the length permitted” for the SEC to act. It also sought to address security issues raised by the agency, saying that if safety differences between a spot bitcoin and currently available futures bitcoin ETFs existed, the firm is “confident it would have surfaced by now.”\n“There is no available rationale that would distinguish a bitcoin futures ETP from a spot bitcoin ETP,” according to the letter sent by attorney Joseph Hall of New York’s Davis Polk.\nThe request follows Grayscale’s watershedlegal winover the agency on Aug. 29. The company had sued the SEC after the agency, which has to date not approved a spot bitcoin ETF, refused to permit the conversion of the Grayscale Bitcoin Trust into an ETF. Judges on the U.S. Court of Appeals D.C. Circuit last month sided with Grayscale and called the SEC’s decision “arbitrary and capricious.”\nThe SEC has 45 days after the ruling to appeal.\nInvestment managers from BlackRock Inc. to Fidelity Investments have pending spot bitcoin ETF applications in front of the SEC. Approval of the Grayscale application would open the door to their spot bitcoin ETFs being available to investors.\nWhile the regulatory body allows ETFs that track bitcoin futures contracts, it thus far has blocked firms from rolling out ETFs that track physical bitcoin, which is the product investors are vying for.\nTheProShares Bitcoin Strategy ETF (BITO)is by far the largest bitcoin futures ETF, which has $952 million in assets under management. The SEC has denied more than 30 spot bitcoin proposals since 2021.\n“GBTC is ready to operate as an ETF upon regulatory approval, and Grayscale and its investors look forward to more information from the SEC,” said a Grayscale spokesperson inthe company’s statementon the letter.\nGrayscale is now seeking to meet with the SEC “as soon as practical” to “discuss the way forward in view of recent developments,” according to the letter.\nAn SEC spokesperson said the agency is “reviewing the next steps” after the Grayscale lawsuit decision.\nGrayscale also argued that dragging out the approval process is hurting investors by pushing down the price of the trust. It also said that a spot bitcoin ETF is the least complicated and best product structure for bitcoin ETF investors.\nThe firm also said that its security measures, known as surveillance sharing agreements, handled by the Chicago Mercantile Exchange, are as effective as other firms’ proposed agreements with Coinbase.\nGrayscale currently has one ETF, theGrayscale Future of Finance ETF (GFOF), which has $5.3 million in AUM.\nContact Lucy Brewster [email protected]\nPermalink| © Copyright 2023etf.com.All rights reserved", "Grayscale Investments is urging the SEC to approve its\xa0request to convert its bitcoin trust into an ETF and has asked the agency to meet with them as quickly as possible after a court ruled against the agency's refusal to review Grayscale’s application.\nThe crypto asset manager delivered a letter on Sept. 5 to the regulator urging it to approve the conversion of the $16 billion Grayscale Bitcoin Trust into an exchange-traded fund.\nThe letter sent by Grayscale’s lawyers argued that the filing to turn the Grayscale Bitcoin Trust into an ETF has been “pending for nearly three times the length permitted” for the SEC to act. It also sought to address security issues raised by the agency, saying that if safety differences between a spot bitcoin and currently available futures bitcoin ETFs existed, the firm is “confident it would have surfaced by now.”\n“There is no available rationale that would distinguish a bitcoin futures ETP from a spot bitcoin ETP,” according to the letter sent by attorney Joseph Hall of New York’s Davis Polk.\nThe request follows Grayscale’s watershedlegal winover the agency on Aug. 29. The company had sued the SEC after the agency, which has to date not approved a spot bitcoin ETF, refused to permit the conversion of the Grayscale Bitcoin Trust into an ETF. Judges on the U.S. Court of Appeals D.C. Circuit last month sided with Grayscale and called the SEC’s decision “arbitrary and capricious.”\nThe SEC has 45 days after the ruling to appeal.\nInvestment managers from BlackRock Inc. to Fidelity Investments have pending spot bitcoin ETF applications in front of the SEC. Approval of the Grayscale application would open the door to their spot bitcoin ETFs being available to investors.\nWhile the regulatory body allows ETFs that track bitcoin futures contracts, it thus far has blocked firms from rolling out ETFs that track physical bitcoin, which is the product investors are vying for.\nTheProShares Bitcoin Strategy ETF (BITO)is by far the largest bitcoin futures ETF, which has $952 million in assets under management. The SEC has denied more than 30 spot bitcoin proposals since 2021.\n“GBTC is ready to operate as an ETF upon regulatory approval, and Grayscale and its investors look forward to more information from the SEC,” said a Grayscale spokesperson inthe company’s statementon the letter.\nGrayscale is now seeking to meet with the SEC “as soon as practical” to “discuss the way forward in view of recent developments,” according to the letter.\nAn SEC spokesperson said the agency is “reviewing the next steps” after the Grayscale lawsuit decision.\nGrayscale also argued that dragging out the approval process is hurting investors by pushing down the price of the trust. It also said that a spot bitcoin ETF is the least complicated and best product structure for bitcoin ETF investors.\nThe firm also said that its security measures, known as surveillance sharing agreements, handled by the Chicago Mercantile Exchange, are as effective as other firms’ proposed agreements with Coinbase.\nGrayscale currently has one ETF, theGrayscale Future of Finance ETF (GFOF), which has $5.3 million in AUM.\nContact Lucy Brewster [email protected]\nPermalink| © Copyright 2023etf.com.All rights reserved", "Grayscale Investments is urging the SEC to approve its\xa0request to convert its bitcoin trust into an ETF and has asked the agency to meet with them as quickly as possible after a court ruled against the agency's refusal to review Grayscale\x92s application. The crypto asset manager delivered a letter on Sept. 5 to the regulator urging it to approve the conversion of the $16 billion Grayscale Bitcoin Trust into an exchange-traded fund. The letter sent by Grayscale\x92s lawyers argued that the filing to turn the Grayscale Bitcoin Trust into an ETF has been \x93pending for nearly three times the length permitted\x94 for the SEC to act. It also sought to address security issues raised by the agency, saying that if safety differences between a spot bitcoin and currently available futures bitcoin ETFs existed, the firm is \x93confident it would have surfaced by now.\x94 \x93There is no available rationale that would distinguish a bitcoin futures ETP from a spot bitcoin ETP,\x94 according to the letter sent by attorney Joseph Hall of New York\x92s Davis Polk. Grayscale\x92s Court Victory Over SEC The request follows Grayscale\x92s watershed legal win over the agency on Aug. 29. The company had sued the SEC after the agency, which has to date not approved a spot bitcoin ETF, refused to permit the conversion of the Grayscale Bitcoin Trust into an ETF. Judges on the U.S. Court of Appeals D.C. Circuit last month sided with Grayscale and called the SEC\x92s decision \x93arbitrary and capricious.\x94 The SEC has 45 days after the ruling to appeal. Investment managers from BlackRock Inc. to Fidelity Investments have pending spot bitcoin ETF applications in front of the SEC. Approval of the Grayscale application would open the door to their spot bitcoin ETFs being available to investors. While the regulatory body allows ETFs that track bitcoin futures contracts, it thus far has blocked firms from rolling out ETFs that track physical bitcoin, which is the product investors are vying for. Story continues The ProShares Bitcoin Strategy ETF (BITO) is by far the largest bitcoin futures ETF, which has $952 million in assets under management. The SEC has denied more than 30 spot bitcoin proposals since 2021. \x93GBTC is ready to operate as an ETF upon regulatory approval, and Grayscale and its investors look forward to more information from the SEC,\x94 said a Grayscale spokesperson in the company\x92s statement on the letter. SEC Meeting With Grayscale Grayscale is now seeking to meet with the SEC \x93as soon as practical\x94 to \x93discuss the way forward in view of recent developments,\x94 according to the letter. An SEC spokesperson said the agency is \x93reviewing the next steps\x94 after the Grayscale lawsuit decision. Grayscale also argued that dragging out the approval process is hurting investors by pushing down the price of the trust. It also said that a spot bitcoin ETF is the least complicated and best product structure for bitcoin ETF investors. The firm also said that its security measures, known as surveillance sharing agreements, handled by the Chicago Mercantile Exchange, are as effective as other firms\x92 proposed agreements with Coinbase. Grayscale currently has one ETF, the Grayscale Future of Finance ETF (GFOF) , which has $5.3 million in AUM. Contact Lucy Brewster at [email protected] Permalink | © Copyright 2023 etf.com. All rights reserved", 'Bitcoin was trading flat below the resistance level of US$26,000 Wednesday morning in Asia. Ether edged up but remained below the US$1,650 mark, while other top 10 non-stablecoin cryptocurrencies traded mixed. Solana led the winners after Visa announced it would expand stablecoin payments to the Solana network. U.S. stock futures traded mixed after a down day Tuesday. Oil supply restrictions from Russia and Saudi Arabia have aroused inflationary concerns and fear among investors of more U.S. interest rate hikes to come.\nBitcoin edged up 0.01% in the last 24 hours to US$25,764.10 as of 07:10 a.m. in Hong Kong for a weekly loss of 6.72%, according toCoinMarketCapdata. The world’s leading cryptocurrency has been trading between US$25,500 and US$26,000 since Saturday. It was trading at the same range in June before U.S. investment giant BlackRock’s Bitcoin exchange-traded fund (ETF) application sent the price over US$30,000\n“The market seems to underestimate the potential impact of U.S. BTC spot ETFs. A spot ETF approval should attract enormous inflows, creating significant buying pressure on BTC. Conversely, if the BTC spot ETFs are rejected, nothing changes,” wrote crypto research firm K33 Research in areportTuesday.\n“Prices are now the same as before the Blackrock news that injected new life into BTC spot ETF chances. In the same time span, the Nasdaq 100, often a good indicator of the market’s general risk appetite, is up 2%. The BTC spot ETFs will be huge, and with improved odds of approval, it looks evident that the market is mispricing it,” the report continued.\nDigital asset manager Grayscale Investments sent aletterto the U.S. Securities and Exchange Commission (SEC) Tuesday urging the regulator to approve its application to turn the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. That followed afavorable court decisionon August 29 for the digital asset management firm requiring the SEC to review an application it rejected last year.\n“GBTC\xa0 is ready to operate as a bitcoin ETF upon regulatory approval, and Grayscale looks forward to further constructive engagement with the SEC,” said Grayscale in a Twitter thread onTuesday.\nJustin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock, said the resubmission of Grayscale’s request to the SEC for their ETF approval is a reason for optimism. “Again, the arrival of a crypto-linked ETF seems to become more and more likely, although the timeline itself remains iffy,” he said.\nEthereum gained 0.51% to US$1,631.79, down 5.53% for the past seven days. The second largest cryptocurrency has been trading around US$1,640 since the weekend. But K33 analysts said they expect the token’s price to rise in the near future.\n“September and October favor overweight exposure in ETH, as ETH carry stronger ETF momentum in the short term,” wrote K33 in Tuesday’s report. “Futures-based ETH ETFs are scheduled to receive their final verdicts in mid-October, with strong chances of approval.”\nNearly a dozencompanies including Volatility Shares, Bitwise, Roundhill and ProShares have filed to launch Ethereum ETFs in the U.S.\nOther top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours. Solana’s SOL led the winners, rising 4.43% to US$20.22 but still posted a loss of 7.19% for the week.\nVisa Inc.announcedon Tuesday it would expand its USDC stablecoin settlement services to the Solana blockchain. The global payments giant has beensupportingUSDC settlements on the Ethereum blockchain since March 2021.\n“By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury,” Cuy Sheffield, head of crypto at Visa, said in the announcement.\nSolana said in a tweet Tuesday that Visa’s addition of the blockchain to its payment network follows an extensive period of planning and infrastructure evaluation.\n“The partnership between Solana and Visa is a positive development for the blockchain ecosystem,” said John Stefanidis, CEO of blockchain infrastructure foundation Balthazar DAO.\n“It broadens the range of use-cases beyond just Ethereum-based applications. Additionally, Solana offers faster and more cost-effective transactions which makes it a great option for settling transactions internally,” Stefanidis said.\nMeanwhile, crypto exchange Coinbase launched a new crypto lending platform for U.S. institutional investors on September 1. The platform has raised over US$57 million in investment, according to afilingwith the U.S. Securities and Exchange Commission made Friday.\nThe platform’s launch follows the bankruptcies of major crypto lenders includingCelsius Network,BlockFiandGenesis Global. Those collapses opened up a vacuum in crypto lending services that the new Coinbase platform could come to occupy.\nThe total crypto market capitalization edged up 0.15% to US$1.04 trillion. Trading volume rose 5.55% to US$25.05 billion.\nU.S. stock futures were trading mixed as of 09:40 a.m. in Asia. The Dow edged higher, while the S&P 500 and Nasdaq logged losses. All three major U.S. indexes closed lower on Tuesday. The Dow led the losses with a 0.56% drop.\nThe main stock indexes across Asia mostly posted losses. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, and South Korea’s Kospi moved lower, while Japan’s Nikkei rose by 0.58%.\nThe benchmarkBrent Crude Oil pricereached a high of US$90.38 per barrel on Tuesday, the highest price since November 2022. The rise came after Saudi Arabia and Russiaextendedtheir unilateral oil supply cuts by three months to the end of the year, contributing\xa0 to thedeclinesin the Asia equity market.\nInvestment bank Goldman Sachs on Tuesday lowered its estimation for a U.S. economic recession in the next 12 months from 20% to 15%. The figure is much lower than a Bloomberg analyst consensus of60%. The Goldman Sachs report cited continued positive inflation and strong labor market data as the reasons for its improved outlook.\nU.S. Federal Reserve Governor Christopher Wallersaidin a Tuesday interview with CNBC that “a hell of a good week of data” for August, including abetter-than-expectedjobs report, points to a slowdown in inflation. But he said it is still too early to tell if the Fed is done with its monetary tightening policies.\n“I want to be very careful about saying we’ve kind of done the job on inflation until we see a couple of months continuing along this trajectory before I say we’re done doing anything,” Waller said.\n“I don’t think one more hike would necessarily throw the economy into recession if we did feel that we needed to do one,” he added. “It’s not obvious that we’re in real danger of doing a lot of damage to the job market, even if we raise rates one more time.”\nCleveland Fed President Loretta Mester was more hawkish. She said in aninterviewwith German news outlet Börsen-Zeitung Tuesday that the Fed “might have to go a bit higher” in its policy rates to handle a still high level of demand in the economy.\nThe Fed will meet on Sept. 20 to make its next move on interest rates, which are currently between 5.25% and 5.50%, the highest level in 22 years.\nTheCME FedWatch Toolpredicts a 93% chance the Fed will maintain the current rate unchanged in September, down from 94% on Sept. 1. It also gives a 41.3% chance for another 25-basis-point rate hike in November, up from 33.5% on Sept. 1.\n“Fed officials are unlikely to move quickly toward easier policy unless growth slows more than we are forecasting in coming quarters,” said Jan Hatzius, chief economist at Goldman Sachs, in a Tuesday research note viewed by Bloomberg. “We therefore expect only very gradual cuts of 25-bps per quarter starting in 2024Q2.”\nA series of official speeches Thursday will provide further indication of the Fed’s plan for rates. Elsewhere, S&P will release its U.S. services purchasing manager index (PMI) for August later Wednesday.\n(Updates with equity section.)', 'Bitcoin was trading flat below the resistance level of US$26,000 Wednesday morning in Asia. Ether edged up but remained below the US$1,650 mark, while other top 10 non-stablecoin cryptocurrencies traded mixed. Solana led the winners after Visa announced it would expand stablecoin payments to the Solana network. U.S. stock futures traded mixed after a down day Tuesday. Oil supply restrictions from Russia and Saudi Arabia have aroused inflationary concerns and fear among investors of more U.S. interest rate hikes to come. Solana surges on Visa partnership Bitcoin edged up 0.01% in the last 24 hours to US$25,764.10 as of 07:10 a.m. in Hong Kong for a weekly loss of 6.72%, according to CoinMarketCap data. The world’s leading cryptocurrency has been trading between US$25,500 and US$26,000 since Saturday. It was trading at the same range in June before U.S. investment giant BlackRock’s Bitcoin exchange-traded fund (ETF) application sent the price over US$30,000 “The market seems to underestimate the potential impact of U.S. BTC spot ETFs. A spot ETF approval should attract enormous inflows, creating significant buying pressure on BTC. Conversely, if the BTC spot ETFs are rejected, nothing changes,” wrote crypto research firm K33 Research in a report Tuesday. “Prices are now the same as before the Blackrock news that injected new life into BTC spot ETF chances. In the same time span, the Nasdaq 100, often a good indicator of the market’s general risk appetite, is up 2%. The BTC spot ETFs will be huge, and with improved odds of approval, it looks evident that the market is mispricing it,” the report continued. Digital asset manager Grayscale Investments sent a letter to the U.S. Securities and Exchange Commission (SEC) Tuesday urging the regulator to approve its application to turn the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. That followed a favorable court decision on August 29 for the digital asset management firm requiring the SEC to review an application it rejected last year. “GBTC\xa0 is ready to operate as a bitcoin ETF upon regulatory approval, and Grayscale looks forward to further constructive engagement with the SEC,” said Grayscale in a Twitter thread on Tuesday . $GBTC is ready to operate as a #bitcoinETF upon regulatory approval, and Grayscale looks forward to further constructive engagement with the SEC. Find out more on our website: https://t.co/0vKXOQGcec (3/3) — Grayscale (@Grayscale) September 5, 2023 Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock, said the resubmission of Grayscale’s request to the SEC for their ETF approval is a reason for optimism. “Again, the arrival of a crypto-linked ETF seems to become more and more likely, although the timeline itself remains iffy,” he said. Story continues Ethereum gained 0.51% to US$1,631.79, down 5.53% for the past seven days. The second largest cryptocurrency has been trading around US$1,640 since the weekend. But K33 analysts said they expect the token’s price to rise in the near future. “September and October favor overweight exposure in ETH, as ETH carry stronger ETF momentum in the short term,” wrote K33 in Tuesday’s report. “Futures-based ETH ETFs are scheduled to receive their final verdicts in mid-October, with strong chances of approval.” Nearly a dozen companies including Volatility Shares, Bitwise, Roundhill and ProShares have filed to launch Ethereum ETFs in the U.S. Other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours. Solana’s SOL led the winners, rising 4.43% to US$20.22 but still posted a loss of 7.19% for the week. Visa Inc. announced on Tuesday it would expand its USDC stablecoin settlement services to the Solana blockchain. The global payments giant has been supporting USDC settlements on the Ethereum blockchain since March 2021. “By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury,” Cuy Sheffield, head of crypto at Visa, said in the announcement. Solana said in a tweet Tuesday that Visa’s addition of the blockchain to its payment network follows an extensive period of planning and infrastructure evaluation. 1/🏦Breaking: Visa Expands Stablecoin Settlement Pilot to Solana @Visa is scaling their USDC settlement pilot to include the Solana blockchain, enabling enterprise-grade throughput at virtually no cost for Visa issuers and merchant acquirers on Solana. https://t.co/rF5ouZaISM — Solana (@solana) September 5, 2023 “The partnership between Solana and Visa is a positive development for the blockchain ecosystem,” said John Stefanidis, CEO of blockchain infrastructure foundation Balthazar DAO. “It broadens the range of use-cases beyond just Ethereum-based applications. Additionally, Solana offers faster and more cost-effective transactions which makes it a great option for settling transactions internally,” Stefanidis said. Meanwhile, crypto exchange Coinbase launched a new crypto lending platform for U.S. institutional investors on September 1. The platform has raised over US$57 million in investment, according to a filing with the U.S. Securities and Exchange Commission made Friday. The platform’s launch follows the bankruptcies of major crypto lenders including Celsius Network , BlockFi and Genesis Global . Those collapses opened up a vacuum in crypto lending services that the new Coinbase platform could come to occupy. The total crypto market capitalization edged up 0.15% to US$1.04 trillion. Trading volume rose 5.55% to US$25.05 billion. Oil prices up; Goldman Sachs lowers US recession estimate Image: Getty Images U.S. stock futures were trading mixed as of 09:40 a.m. in Asia. The Dow edged higher, while the S&P 500 and Nasdaq logged losses. All three major U.S. indexes closed lower on Tuesday. The Dow led the losses with a 0.56% drop. The main stock indexes across Asia mostly posted losses. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, and South Korea’s Kospi moved lower, while Japan’s Nikkei rose by 0.58%. The benchmark Brent Crude Oil price reached a high of US$90.38 per barrel on Tuesday, the highest price since November 2022. The rise came after Saudi Arabia and Russia extended their unilateral oil supply cuts by three months to the end of the year, contributing\xa0 to the declines in the Asia equity market. Investment bank Goldman Sachs on Tuesday lowered its estimation for a U.S. economic recession in the next 12 months from 20% to 15%. The figure is much lower than a Bloomberg analyst consensus of 60% . The Goldman Sachs report cited continued positive inflation and strong labor market data as the reasons for its improved outlook. U.S. Federal Reserve Governor Christopher Waller said in a Tuesday interview with CNBC that “a hell of a good week of data” for August, including a better-than-expected jobs report, points to a slowdown in inflation. But he said it is still too early to tell if the Fed is done with its monetary tightening policies. “I want to be very careful about saying we’ve kind of done the job on inflation until we see a couple of months continuing along this trajectory before I say we’re done doing anything,” Waller said. “I don’t think one more hike would necessarily throw the economy into recession if we did feel that we needed to do one,” he added. “It’s not obvious that we’re in real danger of doing a lot of damage to the job market, even if we raise rates one more time.” Cleveland Fed President Loretta Mester was more hawkish. She said in an interview with German news outlet Börsen-Zeitung Tuesday that the Fed “might have to go a bit higher” in its policy rates to handle a still high level of demand in the economy. The Fed will meet on Sept. 20 to make its next move on interest rates, which are currently between 5.25% and 5.50%, the highest level in 22 years. The CME FedWatch Tool predicts a 93% chance the Fed will maintain the current rate unchanged in September, down from 94% on Sept. 1. It also gives a 41.3% chance for another 25-basis-point rate hike in November, up from 33.5% on Sept. 1. “Fed officials are unlikely to move quickly toward easier policy unless growth slows more than we are forecasting in coming quarters,” said Jan Hatzius, chief economist at Goldman Sachs, in a Tuesday research note viewed by Bloomberg. “We therefore expect only very gradual cuts of 25-bps per quarter starting in 2024Q2.” A series of official speeches Thursday will provide further indication of the Fed’s plan for rates. Elsewhere, S&P will release its U.S. services purchasing manager index (PMI) for August later Wednesday. (Updates with equity section.) View comments', 'Bitcoin was trading flat below the resistance level of US$26,000 Wednesday morning in Asia. Ether edged up but remained below the US$1,650 mark, while other top 10 non-stablecoin cryptocurrencies traded mixed. Solana led the winners after Visa announced it would expand stablecoin payments to the Solana network. U.S. stock futures traded mixed after a down day Tuesday. Oil supply restrictions from Russia and Saudi Arabia have aroused inflationary concerns and fear among investors of more U.S. interest rate hikes to come.\nBitcoin edged up 0.01% in the last 24 hours to US$25,764.10 as of 07:10 a.m. in Hong Kong for a weekly loss of 6.72%, according toCoinMarketCapdata. The world’s leading cryptocurrency has been trading between US$25,500 and US$26,000 since Saturday. It was trading at the same range in June before U.S. investment giant BlackRock’s Bitcoin exchange-traded fund (ETF) application sent the price over US$30,000\n“The market seems to underestimate the potential impact of U.S. BTC spot ETFs. A spot ETF approval should attract enormous inflows, creating significant buying pressure on BTC. Conversely, if the BTC spot ETFs are rejected, nothing changes,” wrote crypto research firm K33 Research in areportTuesday.\n“Prices are now the same as before the Blackrock news that injected new life into BTC spot ETF chances. In the same time span, the Nasdaq 100, often a good indicator of the market’s general risk appetite, is up 2%. The BTC spot ETFs will be huge, and with improved odds of approval, it looks evident that the market is mispricing it,” the report continued.\nDigital asset manager Grayscale Investments sent aletterto the U.S. Securities and Exchange Commission (SEC) Tuesday urging the regulator to approve its application to turn the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. That followed afavorable court decisionon August 29 for the digital asset management firm requiring the SEC to review an application it rejected last year.\n“GBTC\xa0 is ready to operate as a bitcoin ETF upon regulatory approval, and Grayscale looks forward to further constructive engagement with the SEC,” said Grayscale in a Twitter thread onTuesday.\nJustin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock, said the resubmission of Grayscale’s request to the SEC for their ETF approval is a reason for optimism. “Again, the arrival of a crypto-linked ETF seems to become more and more likely, although the timeline itself remains iffy,” he said.\nEthereum gained 0.51% to US$1,631.79, down 5.53% for the past seven days. The second largest cryptocurrency has been trading around US$1,640 since the weekend. But K33 analysts said they expect the token’s price to rise in the near future.\n“September and October favor overweight exposure in ETH, as ETH carry stronger ETF momentum in the short term,” wrote K33 in Tuesday’s report. “Futures-based ETH ETFs are scheduled to receive their final verdicts in mid-October, with strong chances of approval.”\nNearly a dozencompanies including Volatility Shares, Bitwise, Roundhill and ProShares have filed to launch Ethereum ETFs in the U.S.\nOther top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours. Solana’s SOL led the winners, rising 4.43% to US$20.22 but still posted a loss of 7.19% for the week.\nVisa Inc.announcedon Tuesday it would expand its USDC stablecoin settlement services to the Solana blockchain. The global payments giant has beensupportingUSDC settlements on the Ethereum blockchain since March 2021.\n“By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury,” Cuy Sheffield, head of crypto at Visa, said in the announcement.\nSolana said in a tweet Tuesday that Visa’s addition of the blockchain to its payment network follows an extensive period of planning and infrastructure evaluation.\n“The partnership between Solana and Visa is a positive development for the blockchain ecosystem,” said John Stefanidis, CEO of blockchain infrastructure foundation Balthazar DAO.\n“It broadens the range of use-cases beyond just Ethereum-based applications. Additionally, Solana offers faster and more cost-effective transactions which makes it a great option for settling transactions internally,” Stefanidis said.\nMeanwhile, crypto exchange Coinbase launched a new crypto lending platform for U.S. institutional investors on September 1. The platform has raised over US$57 million in investment, according to afilingwith the U.S. Securities and Exchange Commission made Friday.\nThe platform’s launch follows the bankruptcies of major crypto lenders includingCelsius Network,BlockFiandGenesis Global. Those collapses opened up a vacuum in crypto lending services that the new Coinbase platform could come to occupy.\nThe total crypto market capitalization edged up 0.15% to US$1.04 trillion. Trading volume rose 5.55% to US$25.05 billion.\nU.S. stock futures were trading mixed as of 09:40 a.m. in Asia. The Dow edged higher, while the S&P 500 and Nasdaq logged losses. All three major U.S. indexes closed lower on Tuesday. The Dow led the losses with a 0.56% drop.\nThe main stock indexes across Asia mostly posted losses. China’s Shanghai Composite Index, Hong Kong’s Hang Seng, and South Korea’s Kospi moved lower, while Japan’s Nikkei rose by 0.58%.\nThe benchmarkBrent Crude Oil pricereached a high of US$90.38 per barrel on Tuesday, the highest price since November 2022. The rise came after Saudi Arabia and Russiaextendedtheir unilateral oil supply cuts by three months to the end of the year, contributing\xa0 to thedeclinesin the Asia equity market.\nInvestment bank Goldman Sachs on Tuesday lowered its estimation for a U.S. economic recession in the next 12 months from 20% to 15%. The figure is much lower than a Bloomberg analyst consensus of60%. The Goldman Sachs report cited continued positive inflation and strong labor market data as the reasons for its improved outlook.\nU.S. Federal Reserve Governor Christopher Wallersaidin a Tuesday interview with CNBC that “a hell of a good week of data” for August, including abetter-than-expectedjobs report, points to a slowdown in inflation. But he said it is still too early to tell if the Fed is done with its monetary tightening policies.\n“I want to be very careful about saying we’ve kind of done the job on inflation until we see a couple of months continuing along this trajectory before I say we’re done doing anything,” Waller said.\n“I don’t think one more hike would necessarily throw the economy into recession if we did feel that we needed to do one,” he added. “It’s not obvious that we’re in real danger of doing a lot of damage to the job market, even if we raise rates one more time.”\nCleveland Fed President Loretta Mester was more hawkish. She said in aninterviewwith German news outlet Börsen-Zeitung Tuesday that the Fed “might have to go a bit higher” in its policy rates to handle a still high level of demand in the economy.\nThe Fed will meet on Sept. 20 to make its next move on interest rates, which are currently between 5.25% and 5.50%, the highest level in 22 years.\nTheCME FedWatch Toolpredicts a 93% chance the Fed will maintain the current rate unchanged in September, down from 94% on Sept. 1. It also gives a 41.3% chance for another 25-basis-point rate hike in November, up from 33.5% on Sept. 1.\n“Fed officials are unlikely to move quickly toward easier policy unless growth slows more than we are forecasting in coming quarters,” said Jan Hatzius, chief economist at Goldman Sachs, in a Tuesday research note viewed by Bloomberg. “We therefore expect only very gradual cuts of 25-bps per quarter starting in 2024Q2.”\nA series of official speeches Thursday will provide further indication of the Fed’s plan for rates. Elsewhere, S&P will release its U.S. services purchasing manager index (PMI) for August later Wednesday.\n(Updates with equity section.)', '(Photo by FREDERIC J. BROWN/AFP via Getty Images) US stocks traded mostly lower on Tuesday as a spike in oil prices reignited inflation fears. If inflation reaccelerates, it could force the Federal Reserve to continue with its interest rate hikes. Fed Governor Chris Waller said recent economic data suggests the Fed can "proceed carefully" with further rate hikes. US stocks traded mostly lower on Tuesday as oil prices spiked, reigniting investor fears that inflation could tick higher. Oil prices spiked about 1% to a 10-month high after Saudi Arabia and Russia said they would continue with their oil production cuts into the end of the year. Any reacceleration in inflation could spark the Federal Reserve to continue with its interest rate hikes, and that would catch investors by surprise. According to the CME FedWatch Tool , futures are currently pricing in no more interest rate hikes for this cycle and a potential interest rate cut by May 2024. Federal Reserve Governor Christopher Waller told CNBC on Tuesday that the Fed can "proceed carefully" with further interest rate hikes. "There is nothing saying we need to do anything imminent," he said of additional increases, basing his view on recent economic data. Investors are awaiting more Fedspeak later this week to ascertain whether more interest rate hikes in store. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Tuesday: S&P 500 : 4,496.83, down 0.42% Dow Jones Industrial Average : 34,641.97, down 0.56% (-195.74 points) Nasdaq Composite : 14,020.95, down 0.08% Here\'s what else happened today: The strike in Hollywood has wiped out $5 billion from California\'s economy. Warner Brothers Discovery warned that the strike could hurt the company\'s 2023 earnings by $500 million. The chances of a US recession have dropped to just 15% now that the Fed is probably done with hiking interest rates, according to Goldman Sachs. As the US dollar loses some influence in global oil markets, it could mean that a partial de-dollarization movement can pick up steam, according to JPMorgan. Chinese property giant Country Garden paid its dollar bond interest within its grace period, narrowly averting a default. Technical analyst Katie Stockton highlighted the two signals she\'s waiting to flash before she buys stocks. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 1.22% to $86.59 a barrel. Brent , the international benchmark, jumped 1.04% to $89.95 a barrel. Gold fell 0.77% to $1,952.00 per ounce. The yield on the 10-year Treasury bond rose eight basis points to 4.26%. Bitcoin fell 0.42% to $25,708. Read the original article on Business Insider', '• US stocks traded mostly lower on Tuesday as a spike in oil prices reignited inflation fears.\n• If inflation reaccelerates, it could force the Federal Reserve to continue with its interest rate hikes.\n• Fed Governor Chris Waller said recent economic data suggests the Fed can "proceed carefully" with further rate hikes.\nUS stocks traded mostly lower on Tuesday as oil prices spiked, reigniting investor fears that inflation could tick higher.\nOil prices spiked about 1%to a 10-month high after Saudi Arabia and Russia said they would continue with their oil production cuts into the end of the year.\nAny reacceleration in inflation could spark the Federal Reserve to continue with its interest rate hikes, and that would catch investors by surprise. According to theCME FedWatch Tool, futures are currently pricing in no more interest rate hikes for this cycle and a potential interest rate cut by May 2024.\nFederal Reserve Governor Christopher Waller told CNBC on Tuesday that the Fed can "proceed carefully" with further interest rate hikes. "There is nothing saying we need to do anything imminent," he said of additional increases, basing his view on recent economic data.\nInvestors are awaiting more Fedspeak later this week to ascertain whether more interest rate hikes in store.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Tuesday:\n• S&P 500:4,496.83, down 0.42%\n• Dow Jones Industrial Average:34,641.97, down 0.56% (-195.74 points)\n• Nasdaq Composite:14,020.95, down 0.08%\nHere\'s what else happened today:\n• The strike in Hollywoodhas wiped out $5 billion from California\'s economy.Warner Brothers Discovery warned that the strike could hurt the company\'s 2023 earnings by $500 million.\n• Thechances of a US recession have dropped to just 15%now that the Fed is probably done with hiking interest rates, according to Goldman Sachs.\n• As the US dollar loses some influence in global oil markets, it could mean thata partial de-dollarization movement can pick up steam,according to JPMorgan.\n• Chinese property giantCountry Garden paid its dollar bond interest within its grace period,narrowly averting a default.\n• Technical analyst Katie Stocktonhighlighted the two signals she\'s waiting to flash before she buys stocks.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 1.22% to $86.59 a barrel.Brent, the international benchmark, jumped 1.04% to $89.95 a barrel.\n• Goldfell 0.77% to $1,952.00 per ounce.\n• The yield on the 10-year Treasury bond rose eight basis points to 4.26%.\n• Bitcoinfell 0.42% to $25,708.\nRead the original article onBusiness Insider', '• Bitcoin\'s daily chart is set to show a so-called death cross, a major bearish technical pattern, for the first time since January 2022.\n• Past data show the death cross is not reliable as a standalone indicator.\n• Strengthening U.S. dollar and macro developments suggest tough times ahead for risk assets, including cryptocurrencies.\nThe bitcoin (BTC) price seems set on doing the opposite of whatever the dollar index (DXY) does.\nThe leading cryptocurrency\'s 50-day simple moving average is on track to drop below its 200-day SMA, confirming a so-called death cross, the first since January 2022. The dollar index, which tracks the greenback\'s value against major world currencies, looks set to confirm the opposite – a golden cross.\nBitcoin\'s death cross, likely to happen in the next few days, indicates that short-term price momentum is underperforming the long term, with the potential to evolve into a bearish trend. Ether (ETH), the second-largest cryptocurrency by market value, is also on the verge offlashinga death cross.\n"On the Bitcoin chart, such a pattern [death cross] could form next week," AlexKuptsikevich, the senior market analyst at FxPro, said in an email on Monday. "Such a signal suggests a further decline, emphasizing the bearish trend here."\nStill, history shows that a bitcoin death cross is unreliable as a standalone indicator.\nThe cryptocurrency has seen nine death crosses in the past, of which only two led to negative returns over three-, six- and 12-month timeframes. Only five times out of nine was bitcoin trading lower a year after the death cross.\nThe death cross looks set to happen just as the dollar index appears on pace to chalk up a golden crossover amid aworsening macroeconomic outlookfor risk assets.\nThe DXY\'s 50-day SMA could top the 200-day SMA in the coming weeks. A golden crossover is widely taken to represent the beginning of a bull run.\nBitcoin and other risk assets, like technology stocks, are usually inversely correlated with the dollar index. The index has risen 5.3% to 104.90 since mid-July, hitting the highest since March 15, according to charting platform TradingView. Bitcoin declined 19% in the same period.\nAccording to theInternational Monetary Fund(IMF), the U.S. dollar is the global reserve currency, accounting for most global trade, non-bank borrowing and international debt. That means a rally in the U.S. dollarcauses financial tighteningworldwide, putting downward pressure on risk assets.\n"The FX market has come under the spell of higher energy prices. U.S. energy independence and its net exporter status leave the dollar well-positioned for higher energy prices. It would seem the only real threat to the dollar in the near term would be some dramatic re-assessment of growth prospects," analysts at ING said in a note to clients on Tuesday, explaining the dollar\'s rise.\nAccording to ING, with the U.S. economy chugging along quite well, markets are beginning to question expectations for rapid fire rate cuts by the Federal Reserve (Fed) next year. Hopes for a so-called dovish Fed pivot partly aided bitcoin\'s recovery from 2022\'s lows. The Fed has raised rates by over 500 basis points since March last year.\nING said that the new-found wisdom about low chance of quick rate cutsmeansthe path of least resistance for longer duration U.S. Treasury yields is higher. In other words, the yield curve may see what\'s known as abear steepening(de-inversion), which hashistorically markedmajor tops in risk assets.\n"I’m finally turning more constructive on crypto (yes, I see the prices), but I fear we must first get through a tricky inflection point on the macro side," Ilan Solot, co-head of digital assets at Marex Solutions, said in an email. "The risk is a serious flush out of longer-dated yields and growth assets causing temporary re-coupling crypto as the new sock puppet proxy for quant traders."\n"I’m pretty convinced the curve steepening train is leaving the station; the question is (a) the energy behind the move and (b) whether it’s on a bull or bear steepening track. Unfortunately, I’m leaning towards the latter – hope I’m wrong," Solot said.\nRead More:Here\'s Why Crypto Traders Should Be Attentive to \'De-Inversion\' of Treasury Yield Curve', '• Bitcoin\'s daily chart is set to show a so-called death cross, a major bearish technical pattern, for the first time since January 2022.\n• Past data show the death cross is not reliable as a standalone indicator.\n• Strengthening U.S. dollar and macro developments suggest tough times ahead for risk assets, including cryptocurrencies.\nThe bitcoin (BTC) price seems set on doing the opposite of whatever the dollar index (DXY) does.\nThe leading cryptocurrency\'s 50-day simple moving average is on track to drop below its 200-day SMA, confirming a so-called death cross, the first since January 2022. The dollar index, which tracks the greenback\'s value against major world currencies, looks set to confirm the opposite – a golden cross.\nBitcoin\'s death cross, likely to happen in the next few days, indicates that short-term price momentum is underperforming the long term, with the potential to evolve into a bearish trend. Ether (ETH), the second-largest cryptocurrency by market value, is also on the verge offlashinga death cross.\n"On the Bitcoin chart, such a pattern [death cross] could form next week," AlexKuptsikevich, the senior market analyst at FxPro, said in an email on Monday. "Such a signal suggests a further decline, emphasizing the bearish trend here."\nStill, history shows that a bitcoin death cross is unreliable as a standalone indicator.\nThe cryptocurrency has seen nine death crosses in the past, of which only two led to negative returns over three-, six- and 12-month timeframes. Only five times out of nine was bitcoin trading lower a year after the death cross.\nThe death cross looks set to happen just as the dollar index appears on pace to chalk up a golden crossover amid aworsening macroeconomic outlookfor risk assets.\nThe DXY\'s 50-day SMA could top the 200-day SMA in the coming weeks. A golden crossover is widely taken to represent the beginning of a bull run.\nBitcoin and other risk assets, like technology stocks, are usually inversely correlated with the dollar index. The index has risen 5.3% to 104.90 since mid-July, hitting the highest since March 15, according to charting platform TradingView. Bitcoin declined 19% in the same period.\nAccording to theInternational Monetary Fund(IMF), the U.S. dollar is the global reserve currency, accounting for most global trade, non-bank borrowing and international debt. That means a rally in the U.S. dollarcauses financial tighteningworldwide, putting downward pressure on risk assets.\n"The FX market has come under the spell of higher energy prices. U.S. energy independence and its net exporter status leave the dollar well-positioned for higher energy prices. It would seem the only real threat to the dollar in the near term would be some dramatic re-assessment of growth prospects," analysts at ING said in a note to clients on Tuesday, explaining the dollar\'s rise.\nAccording to ING, with the U.S. economy chugging along quite well, markets are beginning to question expectations for rapid fire rate cuts by the Federal Reserve (Fed) next year. Hopes for a so-called dovish Fed pivot partly aided bitcoin\'s recovery from 2022\'s lows. The Fed has raised rates by over 500 basis points since March last year.\nING said that the new-found wisdom about low chance of quick rate cutsmeansthe path of least resistance for longer duration U.S. Treasury yields is higher. In other words, the yield curve may see what\'s known as abear steepening(de-inversion), which hashistorically markedmajor tops in risk assets.\n"I’m finally turning more constructive on crypto (yes, I see the prices), but I fear we must first get through a tricky inflection point on the macro side," Ilan Solot, co-head of digital assets at Marex Solutions, said in an email. "The risk is a serious flush out of longer-dated yields and growth assets causing temporary re-coupling crypto as the new sock puppet proxy for quant traders."\n"I’m pretty convinced the curve steepening train is leaving the station; the question is (a) the energy behind the move and (b) whether it’s on a bull or bear steepening track. Unfortunately, I’m leaning towards the latter – hope I’m wrong," Solot said.\nRead More:Here\'s Why Crypto Traders Should Be Attentive to \'De-Inversion\' of Treasury Yield Curve', 'Bitcoin\'s daily chart is set to show a so-called death cross, a major bearish technical pattern, for the first time since January 2022. Past data show the death cross is not reliable as a standalone indicator. Strengthening U.S. dollar and macro developments suggest tough times ahead for risk assets, including cryptocurrencies. The bitcoin (BTC) price seems set on doing the opposite of whatever the dollar index (DXY) does. The leading cryptocurrency\'s 50-day simple moving average is on track to drop below its 200-day SMA, confirming a so-called death cross, the first since January 2022. The dollar index, which tracks the greenback\'s value against major world currencies, looks set to confirm the opposite – a golden cross. Bitcoin\'s death cross, likely to happen in the next few days, indicates that short-term price momentum is underperforming the long term, with the potential to evolve into a bearish trend. Ether (ETH), the second-largest cryptocurrency by market value, is also on the verge of flashing a death cross. "On the Bitcoin chart, such a pattern [death cross] co
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-06
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $502,909,695,500
- Hash Rate: 364419397.2930779
- Transaction Count: 485357.0
- Unique Addresses: 757286.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.42
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Cryptocurrencies surged on Aug 8 after witnessing a slight slowdown following the Fed’s 25 basis point rate hike in the last week of July. Tuesday’s surge was largely triggered by the decision of Moody’s Investor Service to downgrade 10 small-to-medium-sized lenders and place six other banks on its review list for a potential downgrade.
The credit rating agency cited deposit risk, fears of an impending recession and struggling commercial real estate portfolios as the reasons for the downgrade. Besides, Moody’s also changed its rating outlook for 11 banks to negative.
The crypto market has made a solid rebound this year after a disappointing 2022 that saw the market plummet by more than 65%. The freefall was primarily triggered by the FTX bankruptcy following a major fraud and the Tera Luna crash.
However, this year has been great and experts predict a cryptocurrency rally in the second half as macroeconomic conditions ease. Inflation has been steadily declining over the past 12 months, which saw the Fed lowering the magnitude of its rate hikes. This has been going in favor of the crypto market.
Growth assets such as consumer discretionary and technology stocks and cryptocurrencies are adversely affected by higher interest rates.
Cryptocurrencies have been on a rally since the beginning of 2023. The picture got rosier at the end of June and early July after the Fed left interest rates unchanged after 10 straight hikes. However, the rally came to almost a standstill after the central bank resumed its rate hike at the end of July and Fitch Ratings downgraded the U.S. long-term foreign-currency issuer default rating from AAA to AA+.
However, the announcement by Moody’s sent the cryptocurrencies on a rally once again on Tuesday, with all major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE) surging. Cryptocurrencies are widely considered an alternative to traditional banking systems.
One of the major reasons behind the growing faith in cryptocurrencies is the renewed interest exhibited by prominent traditional financial institutions, particularly in Bitcoin. This has been a driving force behind the upward trajectory of Bitcoin's prices.
Notably, financial giantBlackRock, Inc. BLK has taken steps by submitting an application to regulators to create a Bitcoin ETF. Should this proposal receive approval from regulatory authorities, it could lead to increased involvement from retail investors and offer avenues for expanded institutional support.
Likewise, other major players, includingThe Charles Schwab CorporationSCHW, Citadel Securities and Fidelity Digital Assets, have backed the launch of a new cryptocurrency exchange named EDX Markets. This exchange facilitates the trading of Bitcoin as well as other prominent digital assets.
The latest to jump onto the bandwagon isPayPal Holdings Inc.PYPL, which earlier this week became the first major U.S. fintech company to introduce its unique cryptocurrency token, in the form of a dollar-pegged stablecoin, named PayPal USD.
From an investment perspective, taking advantage of the current upward trend of cryptocurrencies can be seen as a prudent decision.
Riot Platforms, Inc.RIOT is a Bitcoin-driven infrastructure platform. RIOT is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy.
Riot Platforms’ expected earnings growth rate for next year is 38.9%. Shares of RIOT have gained 42.8% in the past three months. Riot Platforms presently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NVIDIA CorporationNVDA is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of NVDA stock tends to surge during a thriving crypto market. This is primarily due to the crucial role GPUs play in data centers, artificial intelligence, and the mining or production of cryptocurrencies.
NVIDIA’s expected earnings growth rate for next year is 133.2%. Shares of NVDA have gained 48.9% in the past three months. NVIDIA currently sports a Zacks Rank #1.
Coinbase Global, Inc.COIN offers financial infrastructure and technology to support the global cryptocurrency economy. COIN provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment.
Coinbase Global’s expected earnings growth rate for the current year is 84.78%. Shares of COIN have increased 40.1% over the past three months. Coinbase currently has a Zacks Rank #2.
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['SINGAPORE --News Direct-- BingX SINGAPORE - Media OutReach - 7 September 2023 - As the cryptocurrency market experiences a summer surge, particularly in the ETC USDT trading pair, BingX is thrilled to announce the launch of its zero-slippage "Guaranteed Price" feature . This timely introduction aims to capitalize on the market\'s momentum, offering traders an unparalleled experience with the ETC USDT pair. The Summer Surge in ETC/USDT Ethereum Classic (ETC) , a hard fork of Ethereum (ETH), has been gaining significant traction this summer. With its focus on smart contracts and decentralized applications (DApps), ETC has differentiated itself from its predecessor, Ethereum. The ETC/USDT trading pair has been a notable performer, attracting increased trading volumes and investor interest. Notably, the overall trading volume of ETC has seen an increment of 30% since June 2023, signaling strong market enthusiasm. BingX\'s Zero-Slippage Trading BingX\'s newly launched "Guaranteed Price" feature offers zero-slippage trading across all 172 trading pairs on its perpetual futures platform, including the upcoming ETC/USDT pair. This feature ensures that traders can execute their trades at the exact price they desire, enhancing the overall trading experience. To celebrate this launch, BingX is running a promotion . During this period, traders who enable the "Guaranteed Price" feature and complete specific tasks can win a 10 USDT voucher and share a prize pool of 1 BTC. How to Participate Task 1: Orders with IDs ending in 1, 6, or 8 will earn a 10. Task 2: Orders that are successfully triggered, with a total trading volume of 10,000 USDT, will share 1 BTC according to the actual trading volume. Rules and Regulations Rewards will be credited to your fund account within 5 working days after the promotion. BingX reserves the right to the final interpretation of the promotion. Any malicious trading behavior will result in disqualification. About BingX Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Contact Details BingX Elvisco [email protected] Company Website https://bingx.com/en-us/ View source version on newsdirect.com: https://newsdirect.com/news/etc-usdt-summer-surge-meets-bingxs-zero-slippage-trading-launch-746602836 View comments', 'SINGAPORE --News Direct-- BingX SINGAPORE - Media OutReach - 7 September 2023 - As the cryptocurrency market experiences a summer surge, particularly in the ETC USDT trading pair, BingX is thrilled to announce the launch of its zero-slippage "Guaranteed Price" feature . This timely introduction aims to capitalize on the market\'s momentum, offering traders an unparalleled experience with the ETC USDT pair. The Summer Surge in ETC/USDT Ethereum Classic (ETC) , a hard fork of Ethereum (ETH), has been gaining significant traction this summer. With its focus on smart contracts and decentralized applications (DApps), ETC has differentiated itself from its predecessor, Ethereum. The ETC/USDT trading pair has been a notable performer, attracting increased trading volumes and investor interest. Notably, the overall trading volume of ETC has seen an increment of 30% since June 2023, signaling strong market enthusiasm. BingX\'s Zero-Slippage Trading BingX\'s newly launched "Guaranteed Price" feature offers zero-slippage trading across all 172 trading pairs on its perpetual futures platform, including the upcoming ETC/USDT pair. This feature ensures that traders can execute their trades at the exact price they desire, enhancing the overall trading experience. To celebrate this launch, BingX is running a promotion . During this period, traders who enable the "Guaranteed Price" feature and complete specific tasks can win a 10 USDT voucher and share a prize pool of 1 BTC. How to Participate Task 1: Orders with IDs ending in 1, 6, or 8 will earn a 10. Task 2: Orders that are successfully triggered, with a total trading volume of 10,000 USDT, will share 1 BTC according to the actual trading volume. Rules and Regulations Rewards will be credited to your fund account within 5 working days after the promotion. BingX reserves the right to the final interpretation of the promotion. Any malicious trading behavior will result in disqualification. About BingX Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Contact Details BingX Elvisco [email protected] Company Website https://bingx.com/en-us/ View source version on newsdirect.com: https://newsdirect.com/news/etc-usdt-summer-surge-meets-bingxs-zero-slippage-trading-launch-746602836 View comments', 'Bitcoin traded flat Wednesday morning in Asia below the resistance level of US$26,000. Ether also traded flat, hovering around US$1,600. Wednesday’s U.S. spot Ether exchange-traded fund (ETF) application by asset manager Ark Invest is yet to have an effect on the token’s price. Other top 10 non-stablecoin cryptocurrencies traded mixed. Solana led the losers, while Toncoin posted the most gains. U.S. stock futures edged lower. That followed a slide Wednesday on Wall Street as stronger-than-expected U.S. economic data raised investor concern about inflation and interest rate hikes. Bitcoin, Ether tread water amid regulatory uncertainty Bitcoin dipped 0.05% in the last 24 hours to US$25,764.75 as of 07:20 a.m. in Hong Kong, according to CoinMarketCap data. The world’s largest cryptocurrency has been largely range bound between US$25,500 and US$26,000 since last Friday. “This coldness continues in cryptocurrency market trading amid low traders’ sentiment, with continued uncertainty about the future of the regulatory environment for this market, especially in the United States,” Samer Hasn, market analyst for online brokerage XS.com, said in an emailed comment. Hasn highlighted the delayed decisions by the U.S. Securities and Exchange Commission (SEC) on Bitcoin-backed ETF applications from a number of major financial institutions, including global investment firm BlackRock. The lack of regulatory clarity has, he said, contributed to decreasing risk appetite among investors. After Bitcoin lost the key support level of US$26,000 on Sept. 1, US$25,300 could be the new “invisible hand” propping up the token’s price, said Markus Thielen, head of research & strategy at digital asset service platform Matrixport, in an emailed comment. Bitcoin fell to US$25,362.61 on Sept. 1, its lowest level since June 16. Thielen said he can see “significant” price volatility continuing as macroeconomic pressures, such as rising U.S. bond yields and dollar prices, amplify risk sentiment. Story continues Meanwhile, a U.S. regulatory body voted Wednesday in favor of a new accounting standard for crypto assets. The Financial Accounting Standards Board (FASB) will require crypto businesses to use “fair value” accounting from 2025. That means that, at least once a year, they will have to evaluate the current value of their crypto assets separately from other assets they hold. The move is considered a win for crypto businesses who view fair value accounting as a more accurate way to assess their financial health. Bitcoin rose to a high of US$25,953.02 in the immediate aftermath of the vote before falling back. Ether has lost 4.22% over the past seven days. It traded flat at US$1,632.60 for the past 24 hours, posting no gains despite news that Cathie Wood’s Ark Invest has filed for its first spot Ether ETF in the U.S. Spot Bitcoin ETF applications have boosted Bitcoin’s price in the past, but there was no such bounce for Ether as market enthusiasm for ETF applications wears off. “There’s been so much regulatory controversy about a Bitcoin spot ETF that I guess many people thought it was a step too far — but we don’t,” Wood told Bloomberg in a Thursday report . Ark Invest made the Ether ETF application in partnership with fellow asset manager 21Shares. Ophelia Snyder, co-founder of 21Shares, said in a comment posted to X that Ethereum markets are becoming more established. “If you look at the state of Ethereum markets today, especially around things like the futures products, you’re starting to get to a place where those markets are much more established.” – Ophelia Snyder, Co-founder & President of 21Shares on the spot ETH ETF filing. https://t.co/KCvaknXlvl — 21Shares (@21Shares) September 6, 2023 Other top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours. Solana led the losers with a 3.28% drop over the past 24 hours to US$19.62, falling 6.04% for the week. Toncoin, the native token of the decentralized network TON (The Open Network), led the winners. It rose 2.67% to US$1.82 for a weekly gain of 5.81%. TON Foundation, the group behind TON, was officially registered as a non-profit organization in Switzerland on Wednesday. The total crypto market capitalization inched down 0.01% to US$1.04 trillion. Trading volume rose 7.97% to US$27.04 billion. US PMI beats expectations, raising rate hike concerns Image: Getty Images U.S. stock futures were trading lower as of 10:10 a.m. in Asia. All three major U.S. indexes closed lower on Wednesday, with the Nasdaq dipping 1.06%. All the main stock indexes across Asia logged losses. The drop in global equity markets followed Wednesday’s release of the U.S. services purchasing managers’ index (PMI) for August. The index rose from 52.7 in July to 54.5, beating analysts’ expectation of a drop to 52.5 . U.S. Federal Reserve Chair Jerome Powell said in July that the central bank will take a “data-dependent” approach when deciding how to reduce the country’s annual inflation below its long-term target of 2%. That followed the Fed’s decision to raise the interest rate to between 5.25% and 5.50% — the highest level in the past 22 years. Quincy Krosby, chief global strategist at U.S.-based wealth management firm LPL Financial, told Bloomberg that the rise in the PMI index “underscores the resilience of the largest portion of the economy” and is “certainly not good news for a data-dependent Fed.” Despite the hot PMI data, the Federal Reserve Bank of Chicago said in a Wednesday newsletter that the positive effects of monetary tightening policies on the economy were yet to be felt. Fed actions to date are “sufficient to bring inflation back near the Fed’s target by the middle of 2024 while avoiding a recession,” the Chicago Fed letter said. Those statements “will come as good news to those predicting a ‘soft landing’ for the US economy,” Mohamed A. El-Erian, an advisor to Germany-based financial services firm Allianz, tweeted on Thursday. Although, he added, some aspects of the Chicago Fed’s analysis “are bound to be questioned.” This " @ChicagoFed Letter" on "Past and Future Effects of the Recent #MonetaryPolicy Tightening" will come as good news to those predicting a "soft landing" for the US #economy . Per below, the model shows that: A good part of the monetary policy tightening has already had its… pic.twitter.com/v5jmKS2whv — Mohamed A. El-Erian (@elerianm) September 7, 2023 The Fed will meet on Sept. 20 to make its next move on interest rates. The CME FedWatch Tool predicts a 93% chance the central bank will maintain the current rate unchanged in September. It also gives a 43.5% chance for another 25-basis-point rate hike in November, up from 41.3% on Wednesday. A series of speeches by Fed officials Thursday will provide further indication of their plan for rates. Meanwhile in China, Beijing will release August import and export data later on Thursday. Analysts polled by Reuters said they expect more declines in August but at a slower pace. They estimated a 9.2% annual drop in exports and a 9.0% drop in imports after double-digit slides in July. (Updates with equity section.)', 'Bitcoin traded flat Wednesday morning in Asia below the resistance level of US$26,000. Ether also traded flat, hovering around US$1,600. Wednesday’s U.S. spot Ether exchange-traded fund (ETF) application by asset manager Ark Invest is yet to have an effect on the token’s price. Other top 10 non-stablecoin cryptocurrencies traded mixed. Solana led the losers, while Toncoin posted the most gains. U.S. stock futures edged lower. That followed a slide Wednesday on Wall Street as stronger-than-expected U.S. economic data raised investor concern about inflation and interest rate hikes.\nBitcoin dipped 0.05% in the last 24 hours to US$25,764.75 as of 07:20 a.m. in Hong Kong, according toCoinMarketCapdata. The world’s largest cryptocurrency has been largely range bound between US$25,500 and US$26,000 since last Friday.\n“This coldness continues in cryptocurrency market trading amid low traders’ sentiment, with continued uncertainty about the future of the regulatory environment for this market, especially in the United States,” Samer Hasn, market analyst for online brokerage XS.com, said in an emailed comment.\nHasn highlighted thedelayed decisionsby the U.S. Securities and Exchange Commission (SEC) on Bitcoin-backed ETF applications from a number of major financial institutions, including global investment firm BlackRock. The lack of regulatory clarity has, he said, contributed to decreasing risk appetite among investors.\nAfter Bitcoin lost the key support level of US$26,000 on Sept. 1, US$25,300 could be the new “invisible hand” propping up the token’s price, said Markus Thielen, head of research & strategy at digital asset service platform Matrixport, in an emailed comment.\nBitcoin fell to US$25,362.61 on Sept. 1, its lowest level since June 16. Thielen said he can see “significant” price volatility continuing as macroeconomic pressures, such as rising U.S. bond yields and dollar prices, amplify risk sentiment.\nMeanwhile, a U.S. regulatory bodyvotedWednesday in favor of a new accounting standard for crypto assets. The Financial Accounting Standards Board (FASB) will require crypto businesses to use “fair value” accounting from 2025. That means that, at least once a year, they will have to evaluate the current value of their crypto assets separately from other assets they hold.\nThe move is considered a win for crypto businesses who view fair value accounting as a more accurate way to assess their financial health. Bitcoin rose to a high of US$25,953.02 in the immediate aftermath of the vote before falling back.\nEther has lost 4.22% over the past seven days. It traded flat at US$1,632.60 for the past 24 hours, posting no gains despite news that Cathie Wood’s Ark Invest has filed for its first spot Ether ETF in the U.S. Spot Bitcoin ETF applications have boosted Bitcoin’s price in the past, but there was no such bounce for Ether as market enthusiasm for ETF applications wears off.\n“There’s been so much regulatory controversy about a Bitcoin spot ETF that I guess many people thought it was a step too far — but we don’t,” Wood told Bloomberg in a Thursdayreport.\nArk Invest made the Ether ETF application in partnership with fellow asset manager 21Shares. Ophelia Snyder, co-founder of 21Shares, said in a comment posted to X that Ethereum markets are becoming more established.\nOther top 10 non-stablecoin cryptocurrencies traded mixed over the past 24 hours. Solana led the losers with a 3.28% drop over the past 24 hours to US$19.62, falling 6.04% for the week.\nToncoin, the native token of the decentralized network TON (The Open Network), led the winners. It rose 2.67% to US$1.82 for a weekly gain of 5.81%. TON Foundation, the group behind TON, was officiallyregisteredas a non-profit organization in Switzerland on Wednesday.\nThe total crypto market capitalization inched down 0.01% to US$1.04 trillion. Trading volume rose 7.97% to US$27.04 billion.\nU.S. stock futures were trading lower as of 10:10 a.m. in Asia. All three major U.S. indexes closed lower on Wednesday, with the Nasdaq dipping 1.06%. All the main stock indexes across Asia logged losses.\nThe drop in global equity markets followed Wednesday’sreleaseof the U.S. services purchasing managers’ index (PMI) for August. The index rose from 52.7 in July to 54.5, beating analysts’ expectation of a drop to52.5.\nU.S. Federal Reserve Chair Jerome Powellsaidin July that the central bank will take a “data-dependent” approach when deciding how to reduce the country’s annual inflation below its long-term target of 2%. That followed the Fed’s decision to raise the interest rate to between 5.25% and 5.50% — the highest level in the past 22 years.\nQuincy Krosby, chief global strategist at U.S.-based wealth management firm LPL Financial, toldBloombergthat the rise in the PMI index “underscores the resilience of the largest portion of the economy” and is “certainly not good news for a data-dependent Fed.”\nDespite the hot PMI data, the Federal Reserve Bank of Chicago said in a Wednesdaynewsletterthat the positive effects of monetary tightening policies on the economy were yet to be felt. Fed actions to date are “sufficient to bring inflation back near the Fed’s target by the middle of 2024 while avoiding a recession,” the Chicago Fed letter said.\nThose statements “will come as good news to those predicting a ‘soft landing’ for the US economy,” Mohamed A. El-Erian, an advisor to Germany-based financial services firm Allianz, tweeted on Thursday. Although, he added, some aspects of the Chicago Fed’s analysis “are bound to be questioned.”\nThe Fed will meet on Sept. 20 to make its next move on interest rates. TheCME FedWatch Toolpredicts a 93% chance the central bank will maintain the current rate unchanged in September. It also gives a 43.5% chance for another 25-basis-point rate hike in November, up from 41.3% on Wednesday.\nA series of speeches by Fed officials Thursday will provide further indication of their plan for rates.\nMeanwhile in China, Beijing will release August import and export data later on Thursday. Analysts polled byReuterssaid they expect more declines in August but at a slower pace. They estimated a 9.2% annual drop in exports and a 9.0% drop in imports afterdouble-digit slidesin July.\n(Updates with equity section.)', 'Traders work on the floor of the NYSE Thomson Reuters US stocks dropped Wednesday as fears of more Fed rate hikes swirled. Boston Fed President Susan Collins warned that more policy tightening could still be on the table. Meanwhile, the Fed\'s Beige Book showed softer activity growth and cooling labor market in July and August. US stocks fell on Wednesday as Big Tech names like Apple and Nvidia dragged major indexes lower. Fears of more potential rate hikes from the Federal Reserve swirled following early morning comments from Boston Fed President Susan Collins. "Overall, we are well positioned to proceed cautiously in this uncertain economic environment, recognizing the risks while remaining resolute and data-dependent, with the flexibility to adjust as conditions warrant," Collins said in a statement. She noted that "further tightening could be warranted." The August ISM services data released Wednesday, a barometer of business conditions in the service sector, showed that prices increased to the highest level since February. The index jumped from a reading 52.7 to 54.5 compared to the prior month. Economists polled by the Wall Street Journal had expected a decline to 52.5. "The two big challenges facing the Fed right now are the risks that inflation could become entrenched and the risks that the consumer could falter when excess savings dry up," Jeffrey Roach, chief economist for LPL Financial, said. "Given the data, the Fed will most likely deliver a hawkish pause at the next meeting. The hard data is not yet convincing enough to establish strong views about the subsequent meetings. Investors should still find opportunities in the market but it could be a bumpy ride." Separately, the Fed\'s Beige book release on Wednesday showed slower activity growth and softer hiring in the labor market through July and August. "Most districts reported price growth slowed overall, decelerating faster in manufacturing and consumer-goods sectors," according to the Beige Book, which is released two weeks ahead of each FOMC meeting. "However, contacts in several districts highlighted sharp increases in property-insurance costs during the past few months." Story continues Here\'s where US indexes stood as the market closed 4:00 p.m. on Wednesday: S&P 500 : 4,465.61, down 0.69% Dow Jones Industrial Average : 34,444.38, down 0.57% (-197.59 points) Nasdaq Composite : 13,872.47, down 1.06% Here\'s what else is going on: The Fed\'s balance sheet reductions have hit $1 trillion . Ozempic maker Novo Nordisk has overtaken LVMH to become the biggest company in Europe. The maker of Wilson tennis rackets is planning to IPO in a deal that could reportedly value the company at $10 billion. China Evergrande stock soared 70% to lead other Chinese property names higher. Apple stock dropped as EU regulators tightened the screws and China banned iPhones for government workers. The share of Americans paying over $2,000 a month for a mortgage has nearly tripled in two years . WeWork says it will renegotiate nearly all of its leases , and it\'s another sign that commercial real estate is in trouble. The stock market could see a big September sell-off on these 7 risks, according to Ed Yardeni. In commodities, bonds, and crypto: Oil prices climbed, with West Texas Intermediate up 1.11% to $87.65 a barrel. Brent crude , the international benchmark, rose 0.77% to $90.73 a barrel. Gold moved lower 0.55% to $1,941.70 per ounce. The 10-year Treasury yield ticked higher by three basis points to 4.298%. Bitcoin dropped 0.40% to $25,607. Read the original article on Business Insider', '• US stocks dropped Wednesday as fears of more Fed rate hikes swirled.\n• Boston Fed President Susan Collins warned that more policy tightening could still be on the table.\n• Meanwhile, the Fed\'s Beige Book showed softer activity growth and cooling labor market in July and August.\nUS stocks fell on Wednesday as Big Tech names likeAppleandNvidiadragged major indexes lower.\nFears of more potential rate hikes from the Federal Reserve swirled following early morning comments from Boston Fed President Susan Collins.\n"Overall, we are well positioned to proceed cautiously in this uncertain economic environment, recognizing the risks while remaining resolute and data-dependent, with the flexibility to adjust as conditions warrant," Collins said in a statement.\nShe noted that "further tightening could be warranted."\nThe August ISM services data released Wednesday, a barometer of business conditions in the service sector, showed that prices increased to the highest level since February. The index jumped from a reading 52.7 to 54.5 compared to the prior month. Economists polled by the Wall Street Journal had expected a decline to 52.5.\n"The two big challenges facing the Fed right now are the risks that inflation could become entrenched and the risks that the consumer could falter when excess savings dry up," Jeffrey Roach, chief economist for LPL Financial, said. "Given the data, the Fed will most likely deliver a hawkish pause at the next meeting. The hard data is not yet convincing enough to establish strong views about the subsequent meetings. Investors should still find opportunities in the market but it could be a bumpy ride."\nSeparately, the Fed\'s Beige book release on Wednesday showed slower activity growth and softer hiring in the labor market through July and August.\n"Most districts reported price growth slowed overall, decelerating faster in manufacturing and consumer-goods sectors," according to the Beige Book, which is released two weeks ahead of each FOMC meeting. "However, contacts in several districts highlighted sharp increases in property-insurance costs during the past few months."\nHere\'s where US indexes stood as the market closed 4:00 p.m. on Wednesday:\n• S&P 500:4,465.61, down 0.69%\n• Dow Jones Industrial Average:34,444.38, down 0.57% (-197.59 points)\n• Nasdaq Composite:13,872.47, down 1.06%\nHere\'s what else is going on:\n• The Fed\'s balance sheet reductions have hit$1 trillion.\n• Ozempic makerNovo Nordisk has overtaken LVMHto become the biggest company in Europe.\n• The maker of Wilson tennis rackets is planning to IPOin a deal that could reportedly value the company at $10 billion.\n• China Evergrande stock soared 70%to lead other Chinese property names higher.\n• Apple stock dropped asEU regulators tightened the screwsand China banned iPhones for government workers.\n• The share of Americans paying over $2,000 a month for a mortgage hasnearly tripled in two years.\n• WeWork says it willrenegotiate nearly all of its leases, and it\'s another sign that commercial real estate is in trouble.\n• The stock market could seea big September sell-offon these 7 risks, according to Ed Yardeni.\nIn commodities, bonds, and crypto:\n• Oil prices climbed, withWest Texas Intermediateup 1.11% to $87.65 a barrel.Brent crude, the international benchmark, rose 0.77% to $90.73 a barrel.\n• Goldmoved lower 0.55% to $1,941.70 per ounce.\n• The10-year Treasury yieldticked higher by three basis points to 4.298%.\n• Bitcoindropped 0.40% to $25,607.\nRead the original article onBusiness Insider', "Ark Invest and 21Shares Are Seeking SEC Approval To Launch A Revolutionary Spot Ethereum ETF\nCathie Wood's Ark Investis seeking approval to launch the US first spotEthereumETF. This development, filed with the Securities and Exchange Commission (SEC) on Wednesday, comes amid growing anticipation for the regulatory approval of crypto exchange-traded funds (ETFs) in the United States.\nArk Invest's proposed ETF, known as the ARK 21Shares Ethereum ETF, mirrors the applications for spot Bitcoin ETFs, which have recently faced delays by the SEC. The regulatory agency announced last week that itrequires additional time to evaluate these applications, partly due to the recent courtroom victory of Grayscale.\nCoinbase has been named as the custodian for Ark Invest's ETF, meaning the popular cryptocurrency exchange would safeguard the Ethereum assets backing the shares of the ETF. Trading of the ETF itself is planned to take place on the Cboe BZX Exchange.\nWhile the SEC has received numerous applications for futures-based Ethereum ETFs, Ark Invest's initiative represents a notable step forward, especially considering that futures-based Bitcoin ETFs have been trading in the U.S. since 2021.\nThere is growing optimism that the SEC may approve a wave of Ethereum futures ETFs, tracking derivatives traded on the CFTC-regulated Chicago Mercantile Exchange (CME), as early as October.\nArk Invest's pursuit of a spot Ethereum ETF comes after a similar prolonged process for a spot Bitcoin ETF application, which the firm initially filed in June 2021.", "Ark Invest and 21Shares Seeks SEC Approval for Groundbreaking Spot Ethereum ETF Ark Invest and 21Shares Are Seeking SEC Approval To Launch A Revolutionary Spot Ethereum ETF Cathie Wood's Ark Invest is seeking approval to launch the US first spot Ethereum ETF. This development, filed with the Securities and Exchange Commission (SEC) on Wednesday, comes amid growing anticipation for the regulatory approval of crypto exchange-traded funds (ETFs) in the United States. Ark Invest's proposed ETF, known as the ARK 21Shares Ethereum ETF, mirrors the applications for spot Bitcoin ETFs, which have recently faced delays by the SEC. The regulatory agency announced last week that it requires additional time to evaluate these applications , partly due to the recent courtroom victory of Grayscale. Coinbase has been named as the custodian for Ark Invest's ETF, meaning the popular cryptocurrency exchange would safeguard the Ethereum assets backing the shares of the ETF. Trading of the ETF itself is planned to take place on the Cboe BZX Exchange. While the SEC has received numerous applications for futures-based Ethereum ETFs, Ark Invest's initiative represents a notable step forward, especially considering that futures-based Bitcoin ETFs have been trading in the U.S. since 2021. There is growing optimism that the SEC may approve a wave of Ethereum futures ETFs, tracking derivatives traded on the CFTC-regulated Chicago Mercantile Exchange (CME), as early as October. Ark Invest's pursuit of a spot Ethereum ETF comes after a similar prolonged process for a spot Bitcoin ETF application, which the firm initially filed in June 2021.", 'VANCOUVER, British Columbia, Sept. 07, 2023 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, announces August 2023 preliminary mining results: DMG mined 46.7 bitcoin with 0.63 EH/s realized hashrate. DMG’s bitcoin balance as of August 31, 2023 was 477 bitcoin. DMG’s realized hashrate was well below its installed nameplate hashrate due mainly to ongoing heat issues.\nDMG Sponsors The Nolcha Shows NYFW event in Brooklyn, NY on September 13\nIn addition to DMG management presenting on September 13 at the H.C. Wainwright 25th Annual Global Investment Conference at 2:00 pm ET and the Singular Research Autumn Equinox 2023 Webinar at 9:15 am ET (registrationlink), the company is also sponsoring The Nolcha Shows NYFW event in Brooklyn, NY on the same day at 7:00 pm ET. The Nolcha Shows provide a platform for Web3 leaders and creatives to connect and collaborate through curated, immersive programming. CEO Sheldon Bennett and COO Steven Eliscu will be hosting meetings at the event to discuss how Terra Pool is the only carbon neutral pool to custom inscribe valuable art collections effectively as non-fungible tokens (NFTs) on the Bitcoin blockchain using Petra and the Ordinals protocol. Please contact DMG [email protected] an access code.\nDMG Management Interview at Mining Disrupt 2023\nDMG’s COO, Steven Eliscu and Mining Operations Manager, Phil Power wereinterviewedby Michael Carter, founder of BitsBeTrippin (BBT) at the recent Mining Disrupt conference in Miami, Florida on July 27, 2023 to discuss Bitcoin mining, preparing for the halvening and innovation with Bitcoin. The interviewreplayis now available on the BBT YouTube channel.\nAbout Terra Pool\nTerra Pool is a cryptocurrency mining platform operated by DMG’s Blockseer software company. Terra Pool is the world\'s first Bitcoin mining pool focused on clean energy. The purpose of this initiative is to accelerate the shift from conventional power to clean energy and reduce the impact of Bitcoin mining on the environment.\nAbout DMG Blockchain Solutions Inc.\nDMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG’s vertical integration.\nFor more information on DMG Blockchain Solutions visit:www.dmgblockchain.comFollow @dmgblockchain on Twitter and subscribe to DMG\'s YouTube channel.\nFor further information, please contact:\nOn behalf of the Board of Directors,\nSheldon Bennett, CEO & DirectorTel: 516-222-2560Email: [email protected]: www.dmgblockchain.com\nInvestor Relations ContactCORE IR 516-222-2560\nFor Media InquiriesJules AbrahamCORE [email protected]\nNeither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.\nCautionary Note Regarding Forward-Looking Information\nThis news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding presenting at upcoming conferences, DMG’s strategies and plans, the potential and benefits of Terra Pool, delivering products that enable the monetization of bitcoin transactions, developing and executing on the Company’s products and services, increasing self-mining, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.\nFuture changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hash rate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hash rate mining difficulty.\nForward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company\'s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG\'s bitcoins; DMG\'s relationships with its customers, distributors and business partners; the inability to add more power to DMG\'s facilities; DMG\'s ability to successfully define, design and release new products in a timely manner that meet customers\' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG\'s business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.\nFactors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company\'s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG\'s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.', 'Domain Acquisition Marks a Major Milestone\nNew York, New York--(Newsfile Corp. - September 7, 2023) -QualitySpores.store, a leading name in the mushroom spore industry, is thrilled to announce the successful acquisition of two key domain competitors: BetterMushroomSpores.com and FreeBirdMushroomSpores.com. This unprecedented move sets a groundbreaking precedent in the sector, marking the first acquisition of its kind ever known in the industry.\nSource:https://qualityspores.store/wp-content/uploads/2021/09/psychedelic-mushroom-strains.jpg\nTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8846/179682_0d5b61d674947b32_001full.jpg\nWith a combined client base exceeding 100k customers-60k from BetterMushroomSpores.com and over 40k from FreeBirdMushroomSpores.com-the acquisitions position QualitySpores.store as an indisputable leader in the market.\n"The acquisition of both these domains amplifies our commitment to providing the best and most diverse selection of mushroom spores to our valued community," said QualitySpores.store. "Our team of experts has been passionate about amateur microscopy for many years, and we are determined to be the best place to buypsilocybe cubensisspores online."\nDetails of the financial transaction revealed that the combined cost of acquiring the two domains stood at approximately $350,000. This strategic investment signifies QualitySpores.store\'s dedication to long-term growth and confidence in the mushroom spore industry\'s potential. The integration process will begin immediately, ensuring seamless experiences for all existing and new customers.\nAccording to QualitySpores.store, these acquisitions are just the beginning. As the mushroom spore industry continues to gain popularity and mainstream acceptance, QualitySpores.store aims to stay at the forefront by exploring further strategic acquisitions and partnerships.\nMushroom Spore Industry Set for Growth\nThe mushroom spore industry, once a niche sector, has experienced substantial growth in recent years. A significant impetus behind this expansion is the increasing emphasis on education and research associated with mycology-the study of fungi.\nEducation has become a cornerstone for the mushroom spore industry. With the blossoming of various educational platforms, enthusiasts and professionals have access to many resources. Workshops, online courses, and dedicated mycology programs in academic institutions are introducing a new generation to the intricacies of fungi. These educational endeavors not only disseminate knowledge but also stimulate interest in mushroom cultivation, inevitably boosting the demand for mushroom spores.\nThe realm of scientific and medical research is another driving force. Researchers are diving deep into the world of fungi, recognizing their potential in diverse fields. In medicine, for instance, the therapeutic properties of certain psychedelic mushrooms are being investigated, with early studies suggesting their efficacy in addressing mental health issues like depression and anxiety. Additionally, the role of fungi in ecosystems, especially their capabilities inmycoremediation, is another burgeoning area of study.\nOutside the academic sphere, the recreational use of mushrooms for microscopy enthusiasts and hobbyist cultivators continues to be a popular pastime. This growing interest in mushrooms and mycology has led to an increased demand for high-quality mushroom spores.\nLack of Reputable Distributors Underpins the Importance of Acquisition\nWith its nuanced legal and ethical implications, the mushroom spore industry can be difficult to navigate for suppliers and consumers. As demand for mushroom spores burgeons, the market is ready for more legitimate, reputable distributors. Unfortunately, the current market is largely dominated by unreliable and unprofessional suppliers, making it challenging for consumers to find trustworthy sources of mushroom spores.\nEnsuring the purity, viability, and correct strain of spores requires rigorous quality assurance processes. In the absence of industry-wide standards, vendors may cut corners, leading to compromised product quality. This scenario paves the way for skepticism and mistrust among potential buyers. Hence, efforts are underway to address these challenges and establish a more reliable spore marketplace.\nBy establishing itself as a leader in the industry and ensuring transparency and accountability, QualitySpores.store aims to foster an environment that encourages responsible and professional mushroom spore distribution. The company hopes to set an example for other distributors and promote a positive image of the industry by prioritizing customer education, product quality, and ethical considerations,\nAbout QualitySpores.store\nQualitySpores.store is a trusted name in the mushroom spore sector, dedicated to offering top-quality products and unparalleled customer service. The company\'s team of experts are amateur microscopy enthusiasts and experienced cultivators themselves, ensuring that they have a deep understanding of the needs and interests of their customers.\nThe company is founded on the philosophy that the psilocybin mushroom spore industry and community should be served by a company that genuinely cares about the well-being and satisfaction of its customers. Hence, they focus not only on the quality of their products but also on providing a helpful and responsive customer experience.\nAccessibility is important to QualitySpores.store, and thus, it offers a user-friendly online platform where customers can browse and purchase a wide range of mushroom spore products. The website also accepts cryptocurrencies such as Bitcoin, catering to a diverse audience that values privacy and convenience.\nWith the new acquisition of BetterMushroomSpores.com and FreeBirdMushroomSpores.com, QualitySpores.store continues to fortify its position at the forefront of the industry, leading the way in innovation and excellence.\nFor media inquiries, please visitQualitySpores.storeor [email protected]\nTo view the source version of this press release, please visithttps://www.newsfilecorp.com/release/179682', 'Domain Acquisition Marks a Major Milestone New York, New York--(Newsfile Corp. - September 7, 2023) - QualitySpores.store , a leading name in the mushroom spore industry, is thrilled to announce the successful acquisition of two key domain competitors: BetterMushroomSpores.com and FreeBirdMushroomSpores.com. This unprecedented move sets a groundbreaking precedent in the sector, marking the first acquisition of its kind ever known in the industry. Source: https://qualityspores.store/wp-content/uploads/2021/09/psychedelic-mushroom-strains.jpg To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8846/179682_0d5b61d674947b32_001full.jpg With a combined client base exceeding 100k customers-60k from BetterMushroomSpores.com and over 40k from FreeBirdMushroomSpores.com-the acquisitions position QualitySpores.store as an indisputable leader in the market. "The acquisition of both these domains amplifies our commitment to providing the best and most diverse selection of mushroom spores to our valued community," said QualitySpores.store. "Our team of experts has been passionate about amateur microscopy for many years, and we are determined to be the best place to buy psilocybe cubensis spores online." Details of the financial transaction revealed that the combined cost of acquiring the two domains stood at approximately $350,000. This strategic investment signifies QualitySpores.store\'s dedication to long-term growth and confidence in the mushroom spore industry\'s potential. The integration process will begin immediately, ensuring seamless experiences for all existing and new customers. According to QualitySpores.store, these acquisitions are just the beginning. As the mushroom spore industry continues to gain popularity and mainstream acceptance, QualitySpores.store aims to stay at the forefront by exploring further strategic acquisitions and partnerships. Mushroom Spore Industry Set for Growth The mushroom spore industry, once a niche sector, has experienced substantial growth in recent years. A significant impetus behind this expansion is the increasing emphasis on education and research associated with mycology-the study of fungi. Story continues Education has become a cornerstone for the mushroom spore industry. With the blossoming of various educational platforms, enthusiasts and professionals have access to many resources. Workshops, online courses, and dedicated mycology programs in academic institutions are introducing a new generation to the intricacies of fungi. These educational endeavors not only disseminate knowledge but also stimulate interest in mushroom cultivation, inevitably boosting the demand for mushroom spores. The realm of scientific and medical research is another driving force. Researchers are diving deep into the world of fungi, recognizing their potential in diverse fields. In medicine, for instance, the therapeutic properties of certain psychedelic mushrooms are being investigated, with early studies suggesting their efficacy in addressing mental health issues like depression and anxiety. Additionally, the role of fungi in ecosystems, especially their capabilities in mycoremediation , is another burgeoning area of study. Outside the academic sphere, the recreational use of mushrooms for microscopy enthusiasts and hobbyist cultivators continues to be a popular pastime. This growing interest in mushrooms and mycology has led to an increased demand for high-quality mushroom spores. Lack of Reputable Distributors Underpins the Importance of Acquisition With its nuanced legal and ethical implications, the mushroom spore industry can be difficult to navigate for suppliers and consumers. As demand for mushroom spores burgeons, the market is ready for more legitimate, reputable distributors. Unfortunately, the current market is largely dominated by unreliable and unprofessional suppliers, making it challenging for consumers to find trustworthy sources of mushroom spores. Ensuring the purity, viability, and correct strain of spores requires rigorous quality assurance processes. In the absence of industry-wide standards, vendors may cut corners, leading to compromised product quality. This scenario paves the way for skepticism and mistrust among potential buyers. Hence, efforts are underway to address these challenges and establish a more reliable spore marketplace. By establishing itself as a leader in the industry and ensuring transparency and accountability, QualitySpores.store aims to foster an environment that encourages responsible and professional mushroom spore distribution. The company hopes to set an example for other distributors and promote a positive image of the industry by prioritizing customer education, product quality, and ethical considerations, About QualitySpores.store QualitySpores.store is a trusted name in the mushroom spore sector, dedicated to offering top-quality products and unparalleled customer service. The company\'s team of experts are amateur microscopy enthusiasts and experienced cultivators themselves, ensuring that they have a deep understanding of the needs and interests of their customers. The company is founded on the philosophy that the psilocybin mushroom spore industry and community should be served by a company that genuinely cares about the well-being and satisfaction of its customers. Hence, they focus not only on the quality of their products but also on providing a helpful and responsive customer experience. Accessibility is important to QualitySpores.store, and thus, it offers a user-friendly online platform where customers can browse and purchase a wide range of mushroom spore products. The website also accepts cryptocurrencies such as Bitcoin, catering to a diverse
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-07
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $501,955,468,875
- Hash Rate: 393005453.9397736
- Transaction Count: 537939.0
- Unique Addresses: 785059.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.41
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Two wallets tagged as belonging to the U.S. government and linked to the Silk Road seizure of crypto have moved over $300 million worth of bitcoin (BTC) in three separate transactions on Wednesday morning, on-chain data shows.
The price of bitcoin fell by 0.8% to $30,480 after the transaction was sent; it has since recovered to $30,660 as of press time.
Bitcoin'sblock explorershows that the government-controlled wallets sent a total of 9,825 bitcoin ($301 million).
The samewallet transferred over $1 billion in bitcoin in March, a move that caused a slump across all major cryptocurrencies.
TheU.S. government previously sold 9,861 bitcoin for $216 million in March. The sale came after the government seized 50,000 bitcoin linked to the Silk Road marketplace in November....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin rose on Friday morning in Asia to trade above the resistance level of US$26,000, leading a rally across most top 10 non-stablecoin cryptocurrencies. The exceptions were Cardano and Toncoin, which both posted minor losses. Ether logged moderate gains but remained below US$1,650. U.S. financial services giant JPMorgan Chase & Co. is reportedly exploring a blockchain-based payment and settlement system, raising optimism for more institutional adoption of blockchain. U.S. stock futures traded mixed, after the S&P 500 and Nasdaq closed lower on Thursday. Stronger-than-expected jobs data has added to U.S. rate hike concerns.\nBitcoin rose 1.62% in the last 24 hours to US$26,179.43 as of 07:30 a.m. in Hong Kong, turning a weekly loss into a gain of 0.75%, according toCoinMarketCapdata. The world’s leading cryptocurrency had been trading between around US$25,500 and US$26,000 since Saturday. It reached an eight-day high of US$26,409.30 early Friday morning.\nJPMorgan, the largest bank in the U.S. by asset size, is “in the early stage” of developing a blockchain-based digital deposit token for cross-border payments and settlements. The bank has already laid out most of the underlying infrastructure, but will wait for approval from U.S. regulators before making the token itself, BloombergreportedFriday.\nDeposit tokens are transferable digital assets representing deposit claims against a commercial bank. Token transactions take place on blockchains, making deposits faster and cheaper than traditional methods.\n“It is another sign that large corporations continue to build their blockchain capabilities during this bear market,” Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in an emailed comment.\n“When it comes to crypto, some traditional players are holding back while others are making strides,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. PayPal’sannouncementthat it will launch a stablecoin has started a domino effect of institutional action in crypto, he said.\n“Once a large player kicks things off and competitors see that as a desirable/profitable set-up, it won’t be long until other players launch their own solution, if only to stay relevant in an ever-advancing space,” d’Anethan added.\nThe market is currently waiting on a decision from the U.S. Securities and Exchange Commission (SEC) regarding another U.S. financial giant — BlackRock. On June 15, the world’s top asset managerappliedfor approval to create a spot Bitcoin exchange-traded fund (ETF).\n“While most expect the SEC Blackrock decision to hit the market in October, the news of a potential ETF approval can also come any time,” Thielen said.\n“Once Bitcoin regains some momentum, the rally could have legs and bring prices back above US$30,000,” he added.\nElsewhere, Martin Gruenberg, chairman of the U.S. Federal Deposit Insurance Corporation (FDIC),saidon Thursday that despite the apparent good health of the U.S. economy, the country’s banking industry “continues to face significant downside risks from the effects of inflation, rising market interest rates, and geopolitical uncertainty.”\nBitcoin prices havehistoricallybenefited from uncertainties in the banking system, such as the crisis at Zurich-based lender Credit Suisse in March. The bank’s sudden collapsesentthe token’s price from below US$27,000 to over US$28,000 on March 19.\nEthereum gained 0.77% to US$1,644.68 over the past 24 hours and edged down 0.07% for the past seven days.\nMost other top 10 non-stablecoin cryptocurrencies logged small gains. Cardano’s ADA and the TON network’s Toncoin were the only tokens that posted losses, dipping 0.14% and 0.70% respectively. But both coins posted gains for the week at 1.07% for ADA and 3.68% for Toncoin.\nThe total crypto market capitalization gained 1.37% to US$1.05 trillion. Trading volume dropped 11.95% to US$23.81 billion.\nU.S. stock futures were trading mixed as of 09:40 a.m. in Asia. The three major U.S. indexes also closed mixed on Thursday, with the Nasdaq Composite posting a 0.89% loss. All the main Asian indexes were down Thursday morning, with Hong Kong’s Hang Seng leading the losses with a 1.34% drop.\nInitial jobless claims in the U.S.fellto 216,000 for the week ending Sept. 2, the lowest level since February. That was short of the 234,000forecastby experts in a Reuters poll.\nLast week’s August jobs data pointed to agradual softeningin the U.S. labor market. But Thursday’s jobless report shows “the labor market is still tight,” Nancy Vanden Houten, lead U.S. economist at Oxford Economics, toldBloomberg. She said the data could influence the U.S. Federal Reserve’s thinking on interest rates,\n“More moderation in job growth will be needed to keep rate hikes further down the road off the table,” Vanden Houten said.\nOn the other side, multiple Federal Reserve officialssaidon Thursday they thought the U.S. central bank should keep interest rates unchanged at its meeting on Sept. 20. In July, the Fed raised the rate to between 5.25% and 5.50% — the highest level in the past 22 years.\n“I’m not yet convinced that we’ve extinguished excess inflation. But in today’s complex economic environment, returning inflation to 2 percent will require a carefully calibrated approach—not endless buckets of cold water,” Lorie Logan, president of the Federal Reserve Bank of Dallassaidon Thursday.\nLogan said that another rate hike pause would be “appropriate” when the Fed meets again later this month.\nTheCME FedWatch Toolpredicts a 95% chance the central bank will maintain the current rate unchanged in September, up from 93% on Thursday. It gives a 57.4% chance for another pause in November.\nMeanwhile, multiple Chinese government agencies haveinstructedtheir staff not to bring iPhones to work amid tensions between Beijing and Washington. The government may alsoexpand restrictionsto state-owned enterprises and affiliated organizations.\nChina is one of Apple’s largest foreign markets. It accounted for nearlya fifthof the firm’s global revenue in 2022. Apple’s shares closed 2.92% lower on Thursday following the reports.\n“The Nasdaq is sinking as one bad Apple spoils a bunch of mega-cap tech stocks,” Edward Moya, senior market analyst at U.S.-headquartered foreign exchange corporation OANDA, toldFortuneon Friday.\n“Apple’s growth story is heavily reliant on China and if the Beijing crackdown intensifies that could pose a big problem to the bunch of other mega-cap tech companies that rely on China,” Moya said.\n(Updates with equity section.)', 'Bitcoin rose on Friday morning in Asia to trade above the resistance level of US$26,000, leading a rally across most top 10 non-stablecoin cryptocurrencies. The exceptions were Cardano and Toncoin, which both posted minor losses. Ether logged moderate gains but remained below US$1,650. U.S. financial services giant JPMorgan Chase & Co. is reportedly exploring a blockchain-based payment and settlement system, raising optimism for more institutional adoption of blockchain. U.S. stock futures traded mixed, after the S&P 500 and Nasdaq closed lower on Thursday. Stronger-than-expected jobs data has added to U.S. rate hike concerns.\nBitcoin rose 1.62% in the last 24 hours to US$26,179.43 as of 07:30 a.m. in Hong Kong, turning a weekly loss into a gain of 0.75%, according toCoinMarketCapdata. The world’s leading cryptocurrency had been trading between around US$25,500 and US$26,000 since Saturday. It reached an eight-day high of US$26,409.30 early Friday morning.\nJPMorgan, the largest bank in the U.S. by asset size, is “in the early stage” of developing a blockchain-based digital deposit token for cross-border payments and settlements. The bank has already laid out most of the underlying infrastructure, but will wait for approval from U.S. regulators before making the token itself, BloombergreportedFriday.\nDeposit tokens are transferable digital assets representing deposit claims against a commercial bank. Token transactions take place on blockchains, making deposits faster and cheaper than traditional methods.\n“It is another sign that large corporations continue to build their blockchain capabilities during this bear market,” Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in an emailed comment.\n“When it comes to crypto, some traditional players are holding back while others are making strides,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. PayPal’sannouncementthat it will launch a stablecoin has started a domino effect of institutional action in crypto, he said.\n“Once a large player kicks things off and competitors see that as a desirable/profitable set-up, it won’t be long until other players launch their own solution, if only to stay relevant in an ever-advancing space,” d’Anethan added.\nThe market is currently waiting on a decision from the U.S. Securities and Exchange Commission (SEC) regarding another U.S. financial giant — BlackRock. On June 15, the world’s top asset managerappliedfor approval to create a spot Bitcoin exchange-traded fund (ETF).\n“While most expect the SEC Blackrock decision to hit the market in October, the news of a potential ETF approval can also come any time,” Thielen said.\n“Once Bitcoin regains some momentum, the rally could have legs and bring prices back above US$30,000,” he added.\nElsewhere, Martin Gruenberg, chairman of the U.S. Federal Deposit Insurance Corporation (FDIC),saidon Thursday that despite the apparent good health of the U.S. economy, the country’s banking industry “continues to face significant downside risks from the effects of inflation, rising market interest rates, and geopolitical uncertainty.”\nBitcoin prices havehistoricallybenefited from uncertainties in the banking system, such as the crisis at Zurich-based lender Credit Suisse in March. The bank’s sudden collapsesentthe token’s price from below US$27,000 to over US$28,000 on March 19.\nEthereum gained 0.77% to US$1,644.68 over the past 24 hours and edged down 0.07% for the past seven days.\nMost other top 10 non-stablecoin cryptocurrencies logged small gains. Cardano’s ADA and the TON network’s Toncoin were the only tokens that posted losses, dipping 0.14% and 0.70% respectively. But both coins posted gains for the week at 1.07% for ADA and 3.68% for Toncoin.\nThe total crypto market capitalization gained 1.37% to US$1.05 trillion. Trading volume dropped 11.95% to US$23.81 billion.\nU.S. stock futures were trading mixed as of 09:40 a.m. in Asia. The three major U.S. indexes also closed mixed on Thursday, with the Nasdaq Composite posting a 0.89% loss. All the main Asian indexes were down Thursday morning, with Hong Kong’s Hang Seng leading the losses with a 1.34% drop.\nInitial jobless claims in the U.S.fellto 216,000 for the week ending Sept. 2, the lowest level since February. That was short of the 234,000forecastby experts in a Reuters poll.\nLast week’s August jobs data pointed to agradual softeningin the U.S. labor market. But Thursday’s jobless report shows “the labor market is still tight,” Nancy Vanden Houten, lead U.S. economist at Oxford Economics, toldBloomberg. She said the data could influence the U.S. Federal Reserve’s thinking on interest rates,\n“More moderation in job growth will be needed to keep rate hikes further down the road off the table,” Vanden Houten said.\nOn the other side, multiple Federal Reserve officialssaidon Thursday they thought the U.S. central bank should keep interest rates unchanged at its meeting on Sept. 20. In July, the Fed raised the rate to between 5.25% and 5.50% — the highest level in the past 22 years.\n“I’m not yet convinced that we’ve extinguished excess inflation. But in today’s complex economic environment, returning inflation to 2 percent will require a carefully calibrated approach—not endless buckets of cold water,” Lorie Logan, president of the Federal Reserve Bank of Dallassaidon Thursday.\nLogan said that another rate hike pause would be “appropriate” when the Fed meets again later this month.\nTheCME FedWatch Toolpredicts a 95% chance the central bank will maintain the current rate unchanged in September, up from 93% on Thursday. It gives a 57.4% chance for another pause in November.\nMeanwhile, multiple Chinese government agencies haveinstructedtheir staff not to bring iPhones to work amid tensions between Beijing and Washington. The government may alsoexpand restrictionsto state-owned enterprises and affiliated organizations.\nChina is one of Apple’s largest foreign markets. It accounted for nearlya fifthof the firm’s global revenue in 2022. Apple’s shares closed 2.92% lower on Thursday following the reports.\n“The Nasdaq is sinking as one bad Apple spoils a bunch of mega-cap tech stocks,” Edward Moya, senior market analyst at U.S.-headquartered foreign exchange corporation OANDA, toldFortuneon Friday.\n“Apple’s growth story is heavily reliant on China and if the Beijing crackdown intensifies that could pose a big problem to the bunch of other mega-cap tech companies that rely on China,” Moya said.\n(Updates with equity section.)', 'Bitcoin rose on Friday morning in Asia to trade above the resistance level of US$26,000, leading a rally across most top 10 non-stablecoin cryptocurrencies. The exceptions were Cardano and Toncoin, which both posted minor losses. Ether logged moderate gains but remained below US$1,650. U.S. financial services giant JPMorgan Chase & Co. is reportedly exploring a blockchain-based payment and settlement system, raising optimism for more institutional adoption of blockchain. U.S. stock futures traded mixed, after the S&P 500 and Nasdaq closed lower on Thursday. Stronger-than-expected jobs data has added to U.S. rate hike concerns. Bitcoin spearheads crypto winners Bitcoin rose 1.62% in the last 24 hours to US$26,179.43 as of 07:30 a.m. in Hong Kong, turning a weekly loss into a gain of 0.75%, according to CoinMarketCap data. The world’s leading cryptocurrency had been trading between around US$25,500 and US$26,000 since Saturday. It reached an eight-day high of US$26,409.30 early Friday morning. JPMorgan, the largest bank in the U.S. by asset size, is “in the early stage” of developing a blockchain-based digital deposit token for cross-border payments and settlements. The bank has already laid out most of the underlying infrastructure, but will wait for approval from U.S. regulators before making the token itself, Bloomberg reported Friday. Deposit tokens are transferable digital assets representing deposit claims against a commercial bank. Token transactions take place on blockchains, making deposits faster and cheaper than traditional methods. “It is another sign that large corporations continue to build their blockchain capabilities during this bear market,” Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in an emailed comment. “When it comes to crypto, some traditional players are holding back while others are making strides,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. PayPal’s announcement that it will launch a stablecoin has started a domino effect of institutional action in crypto, he said. Story continues “Once a large player kicks things off and competitors see that as a desirable/profitable set-up, it won’t be long until other players launch their own solution, if only to stay relevant in an ever-advancing space,” d’Anethan added. The market is currently waiting on a decision from the U.S. Securities and Exchange Commission (SEC) regarding another U.S. financial giant — BlackRock. On June 15, the world’s top asset manager applied for approval to create a spot Bitcoin exchange-traded fund (ETF). “While most expect the SEC Blackrock decision to hit the market in October, the news of a potential ETF approval can also come any time,” Thielen said. “Once Bitcoin regains some momentum, the rally could have legs and bring prices back above US$30,000,” he added. Elsewhere, Martin Gruenberg, chairman of the U.S. Federal Deposit Insurance Corporation (FDIC), said on Thursday that despite the apparent good health of the U.S. economy, the country’s banking industry “continues to face significant downside risks from the effects of inflation, rising market interest rates, and geopolitical uncertainty.” Bitcoin prices have historically benefited from uncertainties in the banking system, such as the crisis at Zurich-based lender Credit Suisse in March. The bank’s sudden collapse sent the token’s price from below US$27,000 to over US$28,000 on March 19. Ethereum gained 0.77% to US$1,644.68 over the past 24 hours and edged down 0.07% for the past seven days. Most other top 10 non-stablecoin cryptocurrencies logged small gains. Cardano’s ADA and the TON network’s Toncoin were the only tokens that posted losses, dipping 0.14% and 0.70% respectively. But both coins posted gains for the week at 1.07% for ADA and 3.68% for Toncoin. The total crypto market capitalization gained 1.37% to US$1.05 trillion. Trading volume dropped 11.95% to US$23.81 billion. Strong US jobs data; China restricts iPhone use for government employees Image: Getty Images U.S. stock futures were trading mixed as of 09:40 a.m. in Asia. The three major U.S. indexes also closed mixed on Thursday, with the Nasdaq Composite posting a 0.89% loss. All the main Asian indexes were down Thursday morning, with Hong Kong’s Hang Seng leading the losses with a 1.34% drop. Initial jobless claims in the U.S. fell to 216,000 for the week ending Sept. 2, the lowest level since February. That was short of the 234,000 forecast by experts in a Reuters poll. Last week’s August jobs data pointed to a gradual softening in the U.S. labor market. But Thursday’s jobless report shows “the labor market is still tight,” Nancy Vanden Houten, lead U.S. economist at Oxford Economics, told Bloomberg . She said the data could influence the U.S. Federal Reserve’s thinking on interest rates, “More moderation in job growth will be needed to keep rate hikes further down the road off the table,” Vanden Houten said. On the other side, multiple Federal Reserve officials said on Thursday they thought the U.S. central bank should keep interest rates unchanged at its meeting on Sept. 20. In July, the Fed raised the rate to between 5.25% and 5.50% — the highest level in the past 22 years. “I’m not yet convinced that we’ve extinguished excess inflation. But in today’s complex economic environment, returning inflation to 2 percent will require a carefully calibrated approach—not endless buckets of cold water,” Lorie Logan, president of the Federal Reserve Bank of Dallas said on Thursday. Logan said that another rate hike pause would be “appropriate” when the Fed meets again later this month. The CME FedWatch Tool predicts a 95% chance the central bank will maintain the current rate unchanged in September, up from 93% on Thursday. It gives a 57.4% chance for another pause in November. Meanwhile, multiple Chinese government agencies have instructed their staff not to bring iPhones to work amid tensions between Beijing and Washington. The government may also expand restrictions to state-owned enterprises and affiliated organizations. China is one of Apple’s largest foreign markets. It accounted for nearly a fifth of the firm’s global revenue in 2022. Apple’s shares closed 2.92% lower on Thursday following the reports. “The Nasdaq is sinking as one bad Apple spoils a bunch of mega-cap tech stocks,” Edward Moya, senior market analyst at U.S.-headquartered foreign exchange corporation OANDA, told Fortune on Friday. “Apple’s growth story is heavily reliant on China and if the Beijing crackdown intensifies that could pose a big problem to the bunch of other mega-cap tech companies that rely on China,” Moya said. (Updates with equity section.)', 'A Bitcoin ETF will likely be approved in the U.S. by the end of 2023. The general public has no idea this is about to happen. Even crypto natives, dismayed by depressed markets and a decade of rejections by the Securities and Exchange Commission, are somehow brushing off the current state of affairs. Bitcoin exchange-traded funds have been highly sought after since 2013 when the first application was submitted to the SEC and subsequently rejected. Over the past 10 years, the SEC has denied each of the several dozen ensuing proposals, including over 30 just since 2021. There are currently 10 active applications from major institutions. An uninformed observer may expect more of the same rejection, but this would be naive. Two substantial developments in the past three months have drastically improved the prospects of an approval. Let’s take a look at these developments and consider whether or not a spot ETF could revitalize Bitcoin and lift crypto out of its bear market. Development 1: BlackRock ‘s ETF bid Momentum kicked off on June 15 this year when BlackRock made waves by unexpectedly submitting a Bitcoin ETF application. BlackRock CEO Larry Fink has spoken favorably about Bitcoin since then. Bitcoin “has a differentiating value versus other asset classes, but more importantly, because it’s so international it’s going to transcend any one currency,” Fink said. His change of tune is remarkable as he previously denounced Bitcoin as an “index of money laundering” back in 2017. BlackRock’s track record of ETF application approvals is nothing short of superb. The asset management giant has submitted 576 applications and all but one have been approved . Have the Bitcoin ETF tea leaves adjusted, and BlackRock taken note? BlackRock’s 99.8% approval rate suggests so. Several other high-profile institutions including Fidelity and Ark Invest have followed suit with pending applications under review. Their filing dates and decision deadlines are largely identical. There are four deadlines during the review process in which the commission may, and often does, opt for delay and further review. Whether the SEC decision arrives early or not until final deadlines, the caliber of the institutions currently applying and their optimism are signaling one result: approval. Development 2: Grayscale ‘s court win A separate but equally significant development in the direction of ETF approval is the Aug. 29 federal court ruling that the SEC was wrong to deny Grayscale Investments’ filing for a spot Bitcoin ETF.\xa0Grayscale previously applied to convert their Grayscale Bitcoin Trust (GBTC) to an ETF.\xa0 The SEC denied this application, and Grayscale responded with a lawsuit arguing that the decision was incorrect. The U.S. Court of Appeals for the District of Columbia sided with Grayscale in its decision stating “In the absence of a coherent explanation, this unlike regulatory treatment of like products is unlawful.” The court also ruled that the SEC’s “denial of Grayscale’s proposal was arbitrary and capricious.” Story continues The court ordered the SEC to once again review Grayscale’s application, effectively reversing the previous rejection. While the ruling does not equate to automatic approval, it strengthens the odds that approval is on the horizon. The SEC would need to provide strong support for further rejection. This begs the question: If such support exists, would it not have been included in their original rejection? Odds of approval While the SEC recently delayed all ETF applications on Sept. 1, as most applicants’ first deadline for review was on Sept. 2, the delays were largely expected. The market responded accordingly with Bitcoin dropping about 5% from the delay announcement to around US$25,700 at the time of this writing. Despite the delays, the path to a spot ETF approval is much clearer after Grayscale’s win in court. JPMorgan analysts believe this , as well as former SEC Chair Jay Clayton who says approval is “inevitable.” It is reasonable to expect the SEC to approve several or even all of the filings at once. The applications are structured very similarly, and it may be considered unfair to grant any of the applicants a head start. Cathie Wood, the CEO of Ark Invest, told Bloomberg : “I think the SEC, if it’s going to approve a Bitcoin ETF, will approve more than one at once.” Ark Invest has the earliest “final deadline” for its filing, which is slated for Jan. 10, 2024. Eric Balchunas, a senior ETF analyst for Bloomberg Intelligence, believes there is a 75% chance of a spot Bitcoin ETF getting SEC approval this year. He ups the odds to 95% by the end of 2024. Screen Shot 2023 09 07 at 1.22.09 AM If SEC approval is inevitable, how might we expect markets to respond? What crypto markets will do, post-ETF Bitcoin ETFs already exist in the European Union, Canada, Brazil and Dubai. But as the U.S. is the center of world financial markets, including crypto markets, approval by its government would undeniably be a major event. An ETF would shuttle new money into Bitcoin. While crypto exchanges such as Coinbase are the primary avenue for entering crypto today, the average American understandably has trust issues with them. KYC (know-your-customer) procedures and having to transfer funds to purchase crypto are also onerous as opposed to simply buying an ETF share. Crypto wallets , private keys and self-custody complicate matters further. The institutions applying for a Bitcoin ETF deeply understand these hurdles. They know an ETF is an opportunity for a large segment of the population, who have thus far remained sidelined, to comfortably begin adding crypto exposure to their portfolio. Bitcoin spot ETFs, in contrast to futures ETFs — which have traded in the U.S. since 2021 — may be particularly constructive to crypto markets. Spot ETFs, the type that all current applicants are applying for, would require the offering institutions to back the ETF with real Bitcoin. This differs from futures ETFs, which merely enable investors to trade an indexed derivative. In the case of futures ETFs, Bitcoin does not actually change hands. A new buyer of a spot ETF has a genuine positive impact on the price of the underlying asset. Another way of thinking about a futures-based ETF is like two people betting on how the price of something will change. It’s more akin to a side bet on what will happen. Their bet has no direct effect on the price of the asset they are betting on. A Bitcoin spot ETF issuer such as BlackRock or Fidelity must buy bona fide Bitcoin to back the shares of the fund that their customers hold. A Bitcoin spot ETF buy or sell will actually change the price of BTC. The new source of fund flows into the space may provide the spark the industry needs to recover from a series of blows in 2022. The news itself will almost certainly cause a rush of buying in the short term. The volatility will breathe new life into the markets which have largely been subdued throughout this summer. The Grayscale decision on Aug. 29 produced a near immediate 6% Bitcoin price increase from US$26,100 to US$27,700. This increase fully re-traced on news of the SEC’s choice to delay all of the outstanding applications on Aug. 31 as the first decision deadline for most filings approached. If the ETF is approved, it is possible that market gains will extend longer than only in the short term. In the short to medium term, a reflexivity loop may be created whereby: Bitcoin price increases on ETF approval news. ⬇ Investors desire Bitcoin allocation due to price increases. ⤹ ⤴ Investors purchase shares in a spot ETF, which drives Bitcoin prices up further. In the long term, we will see BlackRock et al shepherding clients to diversify part of their portfolio into Bitcoin. Passive investors will buy and hold for the long term. As Bitcoin’s supply is finite, the price is bound to be driven upward. Gold appreciated eight years in a row after the initial spot Gold ETF was approved back in 2004.\xa0For all proclamations of Bitcoin as “digital gold,” it would be fitting for Bitcoin’s next upward cycle to similarly commence following ETF approval. The world is not paying attention to Bitcoin at the moment.\xa0That will change before the year ends. View comments', 'A Bitcoin ETF will likely be approved in the U.S. by the end of 2023. The general public has no idea this is about to happen. Even crypto natives, dismayed by depressed markets and a decade of rejections by the Securities and Exchange Commission, are somehow brushing off the current state of affairs.\nBitcoin exchange-traded funds have been highly sought after since 2013 when the first application was submitted to the SEC and subsequently rejected. Over the past 10 years, the SEC has denied each of the several dozen ensuing proposals,including over 30 just since 2021.There are currently 10 active applications from major institutions. An uninformed observer may expect more of the same rejection, but this would be naive.\nTwo substantial developments in the past three months have drastically improved the prospects of an approval. Let’s take a look at these developments and consider whether or not a spot ETF could revitalize Bitcoin and lift crypto out of its bear market.\nMomentum kicked off on June 15 this year when BlackRock made waves by unexpectedly submitting a Bitcoin ETF application.\nBlackRock CEO Larry Fink hasspoken favorablyabout Bitcoin since then. Bitcoin “has a differentiating value versus other asset classes, but more importantly, because it’s so international it’s going to transcend any one currency,” Fink said. His change of tune is remarkable as he previouslydenounced Bitcoinas an “index of money laundering” back in 2017.\nBlackRock’s track record of ETF application approvals is nothing short of superb.The asset management giant has submitted 576 applications and all but one have been approved. Have the Bitcoin ETF tea leaves adjusted, and BlackRock taken note? BlackRock’s 99.8% approval rate suggests so.\nSeveral other high-profile institutions including Fidelity and Ark Invest have followed suit with pending applications under review. Their filing dates and decision deadlines are largely identical. There are four deadlines during the review process in which the commission may, and often does, opt for delay and further review.\nWhether the SEC decision arrives early or not until final deadlines, the caliber of the institutions currently applying and their optimism are signaling one result: approval.\nA separate but equally significant development in the direction of ETF approval is the Aug. 29 federal court ruling that theSEC was wrongto deny Grayscale Investments’ filing for a spot Bitcoin ETF.\xa0Grayscale previously applied to convert their Grayscale Bitcoin Trust (GBTC) to an ETF.\xa0 The SEC denied this application, and Grayscale responded with a lawsuit arguing that the decision was incorrect.The U.S. Court of Appeals for the District of Columbia sided with Grayscale in its decisionstating “In the absence of a coherent explanation, this unlike regulatory treatment of like products is unlawful.” The court also ruled that the SEC’s “denial of Grayscale’s proposal was arbitrary and capricious.”\nThe court ordered the SEC to once again review Grayscale’s application, effectively reversing the previous rejection.\nWhile the ruling does not equate to automatic approval, it strengthens the odds that approval is on the horizon. The SEC would need to provide strong support for further rejection. This begs the question: If such support exists, would it not have been included in their original rejection?\nWhile the SEC recently delayed all ETF applications on Sept. 1, as most applicants’ first deadline for review was on Sept. 2, the delays were largely expected. The market responded accordingly with Bitcoin dropping about 5% from the delay announcement to around US$25,700 at the time of this writing. Despite the delays, the path to a spot ETF approval is much clearer after Grayscale’s win in court.JPMorgan analysts believe this, as well as former SEC Chair Jay Claytonwho says approval is “inevitable.”\nIt is reasonable to expect the SEC to approve several or even all of the filings at once. The applications are structured very similarly, and it may be considered unfair to grant any of the applicants a head start. Cathie Wood, the CEO of Ark Invest,told Bloomberg: “I think the SEC, if it’s going to approve a Bitcoin ETF, will approve more than one at once.” Ark Invest has the earliest “final deadline” for its filing, which is slated for Jan. 10, 2024.\nEric Balchunas, a senior ETF analyst for Bloomberg Intelligence, believes there is a 75% chance of a spot Bitcoin ETF getting SEC approval this year. He ups the odds to 95% by the end of 2024.\nIf SEC approval is inevitable, how might we expect markets to respond?\nBitcoin ETFs already exist in the European Union, Canada, Brazil and Dubai. But as the U.S. is the center of world financial markets, including crypto markets, approval by its government would undeniably be a major event.\nAn ETF would shuttle new money into Bitcoin. While crypto exchanges such as Coinbase are the primary avenue for entering crypto today, the average American understandably has trust issues with them. KYC (know-your-customer) procedures and having to transfer funds to purchase crypto are also onerous as opposed to simply buying an ETF share.Crypto wallets, private keys and self-custody complicate matters further.\nThe institutions applying for a Bitcoin ETF deeply understand these hurdles. They know an ETF is an opportunity for a large segment of the population, who have thus far remained sidelined, to comfortably begin adding crypto exposure to their portfolio.\nBitcoin spot ETFs, in contrast tofutures ETFs— which have traded in the U.S. since 2021 — may be particularly constructive to crypto markets. Spot ETFs, the type that all current applicants are applying for, would require the offering institutions to back the ETF with real Bitcoin. This differs from futures ETFs, which merely enable investors to trade an indexed derivative. In the case of futures ETFs, Bitcoin does not actually change hands. A new buyer of a spot ETF has a genuine positive impact on the price of the underlying asset.\nAnother way of thinking about a futures-based ETF is like two people betting on how the price of something will change. It’s more akin to a side bet on what will happen. Their bet has no direct effect on the price of the asset they are betting on.\nA Bitcoin spot ETF issuer such as BlackRock or Fidelity must buy bona fide Bitcoin to back the shares of the fund that their customers hold. A Bitcoin spot ETF buy or sell will actually change the price of BTC.\nThe new source of fund flows into the space may provide the spark the industry needs to recover from a series of blows in 2022. The news itself will almost certainly cause a rush of buying in the short term. The volatility will breathe new life into the markets which have largely been subdued throughout this summer. The Grayscale decision on Aug. 29 produced a near immediate 6% Bitcoin price increase from US$26,100 to US$27,700. This increase fully re-traced on news of the SEC’s choice to delay all of the outstanding applications on Aug. 31 as the first decision deadline for most filings approached.\nIf the ETF is approved, it is possible that market gains will extend longer than only in the short term.\nIn the short to medium term, a reflexivity loop may be created whereby:\nBitcoin price increases on ETF approval news.\n⬇\nInvestors desire Bitcoin allocation due to price increases.\n⤹ ⤴\nInvestors purchase shares in a spot ETF, which drives Bitcoin prices up further.\nIn the long term, we will see BlackRock et al shepherding clients to diversify part of their portfolio into Bitcoin. Passive investors will buy and hold for the long term. As Bitcoin’s supply is finite, the price is bound to be driven upward.\nGold appreciated eight years in a row after the initial spot Gold ETF was approved back in 2004.\xa0For all proclamations of Bitcoin as “digital gold,” it would be fitting for Bitcoin’s next upward cycle to similarly commence following ETF approval.\nThe world is not paying attention to Bitcoin at the moment.\xa0That will change before the year ends.', 'A Bitcoin ETF will likely be approved in the U.S. by the end of 2023. The general public has no idea this is about to happen. Even crypto natives, dismayed by depressed markets and a decade of rejections by the Securities and Exchange Commission, are somehow brushing off the current state of affairs.\nBitcoin exchange-traded funds have been highly sought after since 2013 when the first application was submitted to the SEC and subsequently rejected. Over the past 10 years, the SEC has denied each of the several dozen ensuing proposals,including over 30 just since 2021.There are currently 10 active applications from major institutions. An uninformed observer may expect more of the same rejection, but this would be naive.\nTwo substantial developments in the past three months have drastically improved the prospects of an approval. Let’s take a look at these developments and consider whether or not a spot ETF could revitalize Bitcoin and lift crypto out of its bear market.\nMomentum kicked off on June 15 this year when BlackRock made waves by unexpectedly submitting a Bitcoin ETF application.\nBlackRock CEO Larry Fink hasspoken favorablyabout Bitcoin since then. Bitcoin “has a differentiating value versus other asset classes, but more importantly, because it’s so international it’s going to transcend any one currency,” Fink said. His change of tune is remarkable as he previouslydenounced Bitcoinas an “index of money laundering” back in 2017.\nBlackRock’s track record of ETF application approvals is nothing short of superb.The asset management giant has submitted 576 applications and all but one have been approved. Have the Bitcoin ETF tea leaves adjusted, and BlackRock taken note? BlackRock’s 99.8% approval rate suggests so.\nSeveral other high-profile institutions including Fidelity and Ark Invest have followed suit with pending applications under review. Their filing dates and decision deadlines are largely identical. There are four deadlines during the review process in which the commission may, and often does, opt for delay and further review.\nWhether the SEC decision arrives early or not until final deadlines, the caliber of the institutions currently applying and their optimism are signaling one result: approval.\nA separate but equally significant development in the direction of ETF approval is the Aug. 29 federal court ruling that theSEC was wrongto deny Grayscale Investments’ filing for a spot Bitcoin ETF.\xa0Grayscale previously applied to convert their Grayscale Bitcoin Trust (GBTC) to an ETF.\xa0 The SEC denied this application, and Grayscale responded with a lawsuit arguing that the decision was incorrect.The U.S. Court of Appeals for the District of Columbia sided with Grayscale in its decisionstating “In the absence of a coherent explanation, this unlike regulatory treatment of like products is unlawful.” The court also ruled that the SEC’s “denial of Grayscale’s proposal was arbitrary and capricious.”\nThe court ordered the SEC to once again review Grayscale’s application, effectively reversing the previous rejection.\nWhile the ruling does not equate to automatic approval, it strengthens the odds that approval is on the horizon. The SEC would need to provide strong support for further rejection. This begs the question: If such support exists, would it not have been included in their original rejection?\nWhile the SEC recently delayed all ETF applications on Sept. 1, as most applicants’ first deadline for review was on Sept. 2, the delays were largely expected. The market responded accordingly with Bitcoin dropping about 5% from the delay announcement to around US$25,700 at the time of this writing. Despite the delays, the path to a spot ETF approval is much clearer after Grayscale’s win in court.JPMorgan analysts believe this, as well as former SEC Chair Jay Claytonwho says approval is “inevitable.”\nIt is reasonable to expect the SEC to approve several or even all of the filings at once. The applications are structured very similarly, and it may be considered unfair to grant any of the applicants a head start. Cathie Wood, the CEO of Ark Invest,told Bloomberg: “I think the SEC, if it’s going to approve a Bitcoin ETF, will approve more than one at once.” Ark Invest has the earliest “final deadline” for its filing, which is slated for Jan. 10, 2024.\nEric Balchunas, a senior ETF analyst for Bloomberg Intelligence, believes there is a 75% chance of a spot Bitcoin ETF getting SEC approval this year. He ups the odds to 95% by the end of 2024.\nIf SEC approval is inevitable, how might we expect markets to respond?\nBitcoin ETFs already exist in the European Union, Canada, Brazil and Dubai. But as the U.S. is the center of world financial markets, including crypto markets, approval by its government would undeniably be a major event.\nAn ETF would shuttle new money into Bitcoin. While crypto exchanges such as Coinbase are the primary avenue for entering crypto today, the average American understandably has trust issues with them. KYC (know-your-customer) procedures and having to transfer funds to purchase crypto are also onerous as opposed to simply buying an ETF share.Crypto wallets, private keys and self-custody complicate matters further.\nThe institutions applying for a Bitcoin ETF deeply understand these hurdles. They know an ETF is an opportunity for a large segment of the population, who have thus far remained sidelined, to comfortably begin adding crypto exposure to their portfolio.\nBitcoin spot ETFs, in contrast tofutures ETFs— which have traded in the U.S. since 2021 — may be particularly constructive to crypto markets. Spot ETFs, the type that all current applicants are applying for, would require the offering institutions to back the ETF with real Bitcoin. This differs from futures ETFs, which merely enable investors to trade an indexed derivative. In the case of futures ETFs, Bitcoin does not actually change hands. A new buyer of a spot ETF has a genuine positive impact on the price of the underlying asset.\nAnother way of thinking about a futures-based ETF is like two people betting on how the price of something will change. It’s more akin to a side bet on what will happen. Their bet has no direct effect on the price of the asset they are betting on.\nA Bitcoin spot ETF issuer such as BlackRock or Fidelity must buy bona fide Bitcoin to back the shares of the fund that their customers hold. A Bitcoin spot ETF buy or sell will actually change the price of BTC.\nThe new source of fund flows into the space may provide the spark the industry needs to recover from a series of blows in 2022. The news itself will almost certainly cause a rush of buying in the short term. The volatility will breathe new life into the markets which have largely been subdued throughout this summer. The Grayscale decision on Aug. 29 produced a near immediate 6% Bitcoin price increase from US$26,100 to US$27,700. This increase fully re-traced on news of the SEC’s choice to delay all of the outstanding applications on Aug. 31 as the first decision deadline for most filings approached.\nIf the ETF is approved, it is possible that market gains will extend longer than only in the short term.\nIn the short to medium term, a reflexivity loop may be created whereby:\nBitcoin price increases on ETF approval news.\n⬇\nInvestors desire Bitcoin allocation due to price increases.\n⤹ ⤴\nInvestors purchase shares in a spot ETF, which drives Bitcoin prices up further.\nIn the long term, we will see BlackRock et al shepherding clients to diversify part of their portfolio into Bitcoin. Passive investors will buy and hold for the long term. As Bitcoin’s supply is finite, the price is bound to be driven upward.\nGold appreciated eight years in a row after the initial spot Gold ETF was approved back in 2004.\xa0For all proclamations of Bitcoin as “digital gold,” it would be fitting for Bitcoin’s next upward cycle to similarly commence following ETF approval.\nThe world is not paying attention to Bitcoin at the moment.\xa0That will change before the year ends.', "• US stocks trade mixed on Thursday amid fresh signs the labor market remains tight.\n• Weekly jobless claims unexpectedly declined, and second-quarter unit labor costs were revised up.\n• That could put more pressure on the Federal Reserve to keep rates higher for longer.\nUS stocks traded mixed on Thursday, and the Nasdaq dropped for a fourth consecutive day as fresh data indicated that the labor market remains tight.\nWeekly jobless claims unexpectedly fell, dropping to 216,000 from 228,000, and defying estimates for an uptick to 234,000. In addition, second-quarter unit labor costs were were revised up to show a gain of 2.2% after an earlier reading put it at 1.6%.\nThat could add pressure on the Federal Reserve to keep rates higher for longer. According to theCME FedWatch tool, Wall Street is pricing in greater odds that the Fed will lift rates again this year after holding them steady later this month.\nBy November, investors see a 43.4% probability of a quarter-point increase, up from 37% a week ago and 29% a month ago.\nHere's where US indexes stood at the 4 p.m. closing bell on Thursday:\n• S&P 500:4,451.20, down 0.32%\n• Dow Jones Industrial Average:34,500.99, up 0.17% (+57.80 points)\n• Nasdaq Composite:13,748.83, down 0.89%\nHere's what else is going on:\n• This indicator shows the stock market is the most overvaluedit's been since the dot-com bubble crash.\n• Apple stock has lost $191 billion in market capover the last two days on fears of China's crackdown.\n• Billionaire investor Leon Cooperman sees a recessionand doesn't expect a new high in stocks for a long time.\n• Wall Street firms and retired generalswill discuss a hypothetical Chinese invasion of Taiwan.\nIn commodities, bonds, and crypto:\n• Oil prices were lower.West Texas Intermediatedipped 0.61% to $87.01 a barrel.Brent crude, the international benchmark, was down 0.58% to $90.07 a barrel.\n• Goldwas essentially flat at $1,944 per ounce.\n• The10-year Treasury yieldticked down 2.6 basis points to 4.264%\n• Bitcoinrose 0.8% to $25,868.\nRead the original article onBusiness Insider", "Spencer Platt/Getty Images US stocks trade mixed on Thursday amid fresh signs the labor market remains tight. Weekly jobless claims unexpectedly declined, and second-quarter unit labor costs were revised up. That could put more pressure on the Federal Reserve to keep rates higher for longer. US stocks traded mixed on Thursday, and the Nasdaq dropped for a fourth consecutive day as fresh data indicated that the labor market remains tight. Weekly jobless claims unexpectedly fell, dropping to 216,000 from 228,000, and defying estimates for an uptick to 234,000. In addition, second-quarter unit labor costs were were revised up to show a gain of 2.2% after an earlier reading put it at 1.6%. That could add pressure on the Federal Reserve to keep rates higher for longer. According to the CME FedWatch tool , Wall Street is pricing in greater odds that the Fed will lift rates again this year after holding them steady later this month. By November, investors see a 43.4% probability of a quarter-point increase, up from 37% a week ago and 29% a month ago. Here's where US indexes stood at the 4 p.m. closing bell on Thursday: S&P 500 : 4,451.20, down 0.32% Dow Jones Industrial Average : 34,500.99, up 0.17% (+57.80 points) Nasdaq Composite: 13,748.83, down 0.89% Here's what else is going on: This indicator shows the stock market is the most overvalued it's been since the dot-com bubble crash. Apple stock has lost $191 billion in market cap over the last two days on fears of China's crackdown. Billionaire investor Leon Cooperman sees a recession and doesn't expect a new high in stocks for a long time. Wall Street firms and retired generals will discuss a hypothetical Chinese invasion of Taiwan. In commodities, bonds, and crypto: Oil prices were lower. West Texas Intermediate dipped 0.61% to $87.01 a barrel. Brent crude , the international benchmark, was down 0.58% to $90.07 a barrel. Gold was essentially flat at $1,944 per ounce. The 10-year Treasury yield ticked down 2.6 basis points to 4.264% Bitcoin rose 0.8% to $25,868. Read the original article on Business Insider", 'Ark Invest, Cathie Wood\'s $60B investment firm, and 21Shares, a digital asset management firm, filed an application with the U.S. Securities and Exchange Commission for a spot exchange-traded fund tracking the price of Ether on Sept. 6. The proposed Ark 21Shares Ethereum ETF is the first application for a spot Ether ETF in the United States. If approved, the trust would directly hold ETH. “The Trust provides investors with the opportunity to access the market for Ether through a traditional brokerage account without the potential barriers to entry or risks involved with holding or transferring Ether,” the filing said. “[21Shares] believes that the Shares are designed to provide investors with a cost-effective and convenient way to invest in ether without purchasing, holding and trading ether directly.” Coinbase Custody would hold ETH on behalf of the trust, and the ETF would reference the CME CF Ether-Dollar Reference Rate and adjust for expenses and liabilities. Shares in the ETF would be valued daily at 4pm EST based on the reference index. The news had little price impact, with ETH trading roughly flat over the past seven days. Ark Invest and 21Shares Apply For Spot ETH ETF The move comes as some analysts predict it may only be a matter of time before a spot crypto ETF
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-08
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $503,553,153,125
- Hash Rate: 358011817.6300677
- Transaction Count: 414799.0
- Unique Addresses: 694292.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.46
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Australian actress Margot Robbie, star of the breakout summer blockbuster “Barbie,” called Bitcoin a "Ken thing," in a playful remark directed at her husband this week. It got me thinking: Barbie would have been a fan of Bitcoin.
After all, Barbie's legacy of autonomy, entrepreneurship and empowerment aligns precisely with the principles of Bitcoin.
Aubrey Strobel is the host of"The Aubservation"podcast.
Barbie's story begins in 1959, a time when women faced significant social and legal barriers to financial independence. The Equal Credit Opportunity Act that granted women the right to open a bank account independently was still 15-years away. Despite this, Barbie became an icon and a symbol of feminine empowerment, a story that was expertly reimagined in director Greta Gerwig's latest film.
Barbie is full of contradictions: she's materialistic yet a good role-model, hyper-feminine but stridently independent, literally plastic while also being so much more. She surmounted countless obstacles and prejudices while reinforcing others, but also, ultimately, showed that empowerment doesn't always follow a predetermined script.
How did Barbie go from being essentially unbanked to a household name across the globe and model for empowerment?
One of the most compelling aspects of Barbie's legacy is her representation as a businesswoman. Throughout the years, she has been a leader across industries and professions as an astronaut, doctor and computer engineer – breaking gender stereotypes and demonstrating anyone can achieve anything to which they set their minds.
Perhaps most importantly, she set a powerful example for young girls and women to take control of their finances.
Drawing parallels between Barbie's entrepreneurial journey and the principles of Bitcoin, we find a shared pursuit of financial independence and self-empowerment. Bitcoin, as a decentralized digital currency, enables individuals to manage their financial futures without relying on traditional financial institutions. Of course Barbie the trailblazer, the independent thinker, and go-getter would see the value in Bitcoin.
See also:Aubrey Strobel – Yuga Labs' Embrace of Bitcoin NFTs Is a Big Deal| Opinion
Just as Barbie has challenged gender norms and pushed boundaries, Bitcoin can be a means for women to challenge the male-dominated financial landscape. Bitcoin allows female entrepreneurs to break into a fast-moving startup field and take charge, a legacy Barbie would be proud of. Perhaps Mattel should consider Barbie the cypherpunk or Barbie the crypto futurist next.
Promoting the achievements of women within the fintech space is crucial in challenging the misconception that Bitcoin is exclusively for men. Recognizing and celebrating female pioneers, traders, developers and influencers within the community will foster a more inclusive environment.
The spirit of Barbie's entrepreneurship aligns with the principles of Bitcoin. By showcasing her journey as a successful businesswoman, we can draw parallels between Barbie's empowerment and the opportunities Bitcoin offers. We should encourage more women, perhaps inspired by Barbie’s message, to also embrace Bitcoin.
Bitcoin is a pathway for financial independence – a "Barbie thing."...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['• Major indexes ended Friday higher but were down on the week as rate fears persisted.\n• Signs of a tight labor market renewed fears of further interest rate hikes this year.\n• Apple fell 5% during the week on fears of a widening crackdown in China on the use of iPhones.\nUS stocks closed mixed on Friday, with two of the major indexes ending the day nearly flat, though the market ended the week lower.\nThrough the week, the S&P 500 fell 1.26%, the Dow fell 0.53%, and the Nasdaq dropped 2.11%.\nThe last few days have reignited investor concerns over further interest rate hikes, as a Thursday report showed a still-tight labor market, with weekly jobless claims coming in at 216,000, lower than 230,000 expected by economists and the lowest reading since February.\nFears eased somewhat after New York Fed President John Williams described the economy as headed "in the right direction." According to theCME FedWatchTool, 43.5% of investors are expecting an interest rate hike in November.\nAmong individual names,Applewas especially notable this week, as China\'s iPhone ban for governmental officials sparked fear among shareholders of further restrictions. The tech giant\'s shares slid 5.1% this week.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Friday:\n• S&P 500: 4,457.58, up 0.14%\n• Dow Jones Industrial Average: 34,577.28, up 0.22% (+76.55 points)\n• Nasdaq Composite:13,761.53, up 0.09%\nHere\'s what else is going on:\n• Federal Reserve economists are opening up to thepossibility of a goldilocks scenario.\n• A Wall Street analyst put out a note defending Nvidiaagainst a conspiracy theory making the rounds on Twitter.\n• The founder of failed crypto exchange Thodex was sentenced toover 11,000 years in prison.\n• Russia will sell China gas for half the pricethat European importers will have to pay.\n• Texas\' emergency-level heat wave causedpower prices to jump 20,000%on Wednesday.\nIn commodities, bonds, and crypto:\n• Oil prices rose.West Texas Intermediaterose 0.5% to $87.31 a barrel.Brent crude, the international benchmark, climbed 0.6% to $90.48 a barrel.\n• Goldedged slightly higher to $1,942.70 an ounce.\n• The10-year Treasury yieldinched down to 4.258%.\n• Bitcoinwas slightly higher at $25,881.\nRead the original article onBusiness Insider', 'U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on June 14, 2023 in Washington, DC. Drew Angerer/Getty Images Major indexes ended Friday higher but were down on the week as rate fears persisted. Signs of a tight labor market renewed fears of further interest rate hikes this year. Apple fell 5% during the week on fears of a widening crackdown in China on the use of iPhones. US stocks closed mixed on Friday, with two of the major indexes ending the day nearly flat, though the market ended the week lower. Through the week, the S&P 500 fell 1.26%, the Dow fell 0.53%, and the Nasdaq dropped 2.11%. The last few days have reignited investor concerns over further interest rate hikes, as a Thursday report showed a still-tight labor market, with weekly jobless claims coming in at 216,000, lower than 230,000 expected by economists and the lowest reading since February. Fears eased somewhat after New York Fed President John Williams described the economy as headed "in the right direction." According to the CME FedWatch Tool, 43.5% of investors are expecting an interest rate hike in November. Among individual names, Apple was especially notable this week, as China\'s iPhone ban for governmental officials sparked fear among shareholders of further restrictions. The tech giant\'s shares slid 5.1% this week. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Friday: S&P 500 : 4,457.58, up 0.14% Dow Jones Industrial Average : 34,577.28, up 0.22% (+76.55 points) Nasdaq Composite : 13,761.53, up 0.09% Here\'s what else is going on: Federal Reserve economists are opening up to the possibility of a goldilocks scenario . A Wall Street analyst put out a note defending Nvidia against a conspiracy theory making the rounds on Twitter. The founder of failed crypto exchange Thodex was sentenced to over 11,000 years in prison . Russia will sell China gas for half the price that European importers will have to pay. Texas\' emergency-level heat wave caused power prices to jump 20,000% on Wednesday. In commodities, bonds, and crypto: Oil prices rose. West Texas Intermediate rose 0.5% to $87.31 a barrel. Brent crude , the international benchmark, climbed 0.6% to $90.48 a barrel. Gold edged slightly higher to $1,942.70 an ounce. The 10-year Treasury yield inched down to 4.258%. Bitcoin was slightly higher at $25,881. Read the original article on Business Insider', "When longtime crypto firm Grayscalebeat the SECbefore the influential D.C. Circuit Court of Appeals last week, it was the industry’s most high-profile legal victory to date. The decision joins two other recent rulings that likely will pave the way for crypto to enter mainstream finance.\nThis should be a moment of celebration for Web3 enthusiasts—courts are clearing longstanding legal obstacles to blockchains adding billions of users—but this moment also could prove a crossroads in determining how those users come “on chain”—and whether that process will uphold the crypto community’s long-cherished value of decentralization and its benefits, or whether that ideal will be betrayed.\nLet’s take a look at the court rulings themselves, includingthe recent Grayscale case, which challenged the SEC’s longstanding refusal to grant a spot Bitcoin ETF. While the decision does not command the SEC to approve the ETF, it makes an eventual approval almost a foregone conclusion (though the SEC delaying its decisions on all spot bitcoin ETFs after the Grayscale decision means it will not be immediate). One reason for this is that traditional financial institutions with whom the SEC is likely more comfortable—such as the largest money manager in the world, Blackrock—are also keen to get into the bitcoin-spot-ETF game. As my colleague PeterFoxobserved, “[r]etail investors and institutions alike may be attached to bigger names,” and Grayscale might have unwittingly been doing Wall Street’s homework.\nWhile the SEC could find ways to keep fighting over spot bitcoin ETF listings, the agency may see a silver lining in admitting defeat here, as that would guarantee the SEC some piece of the regulatory pie. One could even see a world in which spot ETFs for crypto tokens other than BTC and ETH proliferated. While that may be a big win for the institutions issuing and managing those funds, a world in which retail traders primarily access these tokens through such funds—rather than holding, trading, and using them directly through user-controlled digital wallets—would be a huge waste of potential, stifling innovative business models the technology enables.\nThe recent order in the Ripple case in the Southern District of New York represents another big symbolic victory for the industry after the scandals and market funk of the last year. Iwroteabout this at greater length earlier with my colleagues, but, for present purposes, the important thing to note is the order does not establish a precedent (or win the case for Ripple). So the order’s knock-on effects are likely limited, and while it does supply the industry with ample ammunition in the form of legal arguments to bolster various use cases and business models, the order’s real impact could be as fleeting as Terra scammer Do Kwon’s15 minutes of fame.\nThen there is the Uniswap case. Although not an SEC-related decision action, and the least high-profile of the three cases examined here, therecent dismissalof a class-action against Uniswap is likely to prove influential in the long term. The case itself involved claims by putative “investors” that Uniswap,its CEO, and its biggest venture capital backers were liable for scammy tokens sold by unknown actors who were using the firm’s decentralized protocol.\nShowing a deft understanding of the function of the decentralized technology at issue, Judge Polk Failla of SDNY found, with respect to liability under the Exchange Act, that “third-party human intervention caused the harm, not the underlying platform.” Developers writing smart contracts are not entering into a legal contract with any user of such smart contract, she wrote, and so “it defies logic that a drafter of computer code underlying a particular software platform could be liable” for another person’s misuse of the platform.\nThat decision lets us observe a court that understands the technology, the gaps in the law, and the various arguments about how and why particular rules from the federal securities laws should—or should not—apply. The court also concedes that the state of industry regulation is in flux, but the best ammunition for the industry is language supporting the proposition that writing code underlying a smart contract does not a financial institution make. Not holding people liable for what bad actors do with their publicly published computer code is a good result.\nThis important victory may prove only pyrrhic, though, if important legal issues (e.g. token security status) are not resolved in a more comprehensive and systemic fashion. Disputes settled in court seldom make the best policy. And while Wall Street can bring liquidity, know-how, and legitimacy to crypto, entrepreneurs must be allowed to experiment with business models unlocked by the technology.\nOtherwise, this mainstream moment will be a missed opportunity. Rather than a billion users holding and trading NFTs, yield farming through DeFi, and storing files on decentralized protocols like Filecoin, mainstream crypto could mean Wall Street offering financial products that integrate crypto, relegating blockchains to the backend. Rather than decentralized protocols empowering users through digital ownership, could Mainstream Crypto merely become the establishment usurping the entrepreneurs—Wall Street eating Silicon Valley’s breakfast? I hope not, but the actions of entrepreneurs, the courts, and policymakers in the near future will answer that question.\nDamien G. Scott is an attorney at Scoolidge, Peters, Russotti & Fox LLP. He previously served as general counsel and COO of CoinList Ventures, and as chief compliance officer of another CoinList entity, one of the first broker-dealers approved by FINRA to conduct private placements of digital asset securities. The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs ofFortune.\nThis story was originally featured onFortune.com\nMore from Fortune:5 side hustles where you may earn over $20,000 per year—all while working from homeWant more for your money? These 14 savings accounts have rates of 5% APY (and higher)Buying a house? Here's how much to saveThis is how much money you need to earn annually to comfortably buy a $600,000 home", 'Hey, lovely people -- it\'s that time of week again: Week in Review (WiR) time. For those unfamiliar, WiR is TechCrunch\'s regular newsletter that recaps the major events in tech over the past few days. If you\'ve been too busy to keep tabs on recent happenings, don\'t panic. WiR is here to get you up to speed.\nIn this week\'s edition of WiR, we cover a hacking device that can spam nearby iPhones with Bluetooth pop-ups, Y Combinator Demo Day favorites (and controversies), Bumble changing its policy to crack down on bots, doxing and spam, and Lenovo\'s new gaming glasses and PC handheld. We also spotlight the federal investigation over Tesla\'s "secret glass" project, Elon Musk suing the Anti-Defamation League, Texas\' efforts to enforce ID checks on porn sites and hacked male chastity cages (yes, really).\nIt\'s a lot to get to, so let\'s dive right in. But first, if you haven’t already, don\'t forget tosign up hereto get WiR in your inbox every Saturday.\nY Combinator controversy:Storied venture firm Y Combinator has removed an Indian startup from its batch after discovering "irregularities" at the company. Medobed, which promises medicine delivery in 10 minutes, was initially chosen for Y Combinator’s S23 batch. But after it was discovered that Medobed\'s founder frequently altered his account of his educational history and the company\'s growth metrics, Y Combinator severed ties.\nYC Demo Day:In lighter YC news, this week was Y Combinator\'s Demo Day, a two-day livestream of startups presenting in the VC firm\'s latest cohort. We have roundups fromboth daysas well as a highlight of theAI startupsthat stood out to us for their technical -- or business -- novelty.\nCheap iPhone tricks:Thanks to a popular and relatively cheap hacking tool, hackers can spam your iPhone with annoying pop-ups prompting you to connect to a nearby Apple device. A security researcher who asked to be referred to only as Anthony demonstrated this attack using a Flipper Zero, a small device that can be programmed to perform wireless attacks on devices in its range.\nSmart chastity cage hacked:In other, more bizarre hacking news, the manufacturer of a penis chastity device that can be controlled by a partner over the internet exposed users’ email addresses, plaintext passwords, home addresses and IP addresses, and -- in some cases -- GPS coordinates due to several flaws in its servers, according to a security researcher. Lorenzo has the full story.\nBumble cracks down on spam:Dating app company Bumble has releasedupdated community guidelineswith the goal of cracking down on bots, spam, ghosting and doxing on both Bumble and Badoo, Bumble\'s alternative dating platform. Bumble is revamping its rules to weed out bots by banning actions like artificially influencing "connections, matching, conversations, or engagement through the use of automation or scripting," Ivan writes.\nPaw Patrol snacks recalled over porn:U.K.-based supermarket giant Lidl has issued a recall of Paw Patrol snacks after the website listed on the products’ packaging began displaying explicit content unsuitable for children. Affected products include Paw Patrol Yummy Bakes and Paw Patrol Mini Biscotti, snacks recommended for children aged two and above.\nTexas can\'t enforce online ID checks:A Texas judge issued aninjunctionthis week to stall the enforcement of an online age verification bill. The Free Speech Coalition, along with adult video sites like Pornhub, led the legal challenge against Texas’HB 1181, arguing that the bill violates the First Amendment and infringes on rights guaranteed bySection 230.\nLenovo launches glasses and a handheld:At the annual IFA consumer electronics conference in Berlin, Lenovo unveiled the Legion Glasses, which starts at $329 and shares certain characteristics with Apple\'sVision Pro, Brian writes. Alongside it, Lenovo debuted the $699 Legion Go, its answer to Valve\'sSteam Deck, which is not only more powerful than the Steam Deck in terms of processing power but also boasts a higher-resolution, higher-refresh-rate screen.\nFeds investigate Tesla:Manhattan federal prosecutors and the Securities and Exchange Commission are separately investigating the use of Tesla funds to bankroll a secret project that\'s described internally as a glass house in Austin, Texas, for CEO Elon Musk. Tesla board members are also reportedly involved in the investigation around the potential misuse of company resources on the project, known as "Project 42," and whether Musk was personally involved.\nMusk sues the ADL:If a federal investigation against Tesla wasn\'t enough, Musk says that X, formerly Twitter, will file a defamation lawsuit against the Anti-Defamation League, the nonprofit organization that works to combat antisemitism, extremism and bigotry. Musk accused the ADL of falsely accusing him and X, his company, of being antisemitic and also blamed the ADL for X’s falling U.S. advertising revenue.\nIn need of a podcast or two to round out your playlist? Good news -- TechCrunch has plenty to fit the bill.\nThe newest episode ofEquityfeatured Michael Seibel, current YC partner and managing director of YC Early Stage, who discussed how Y Combinator evolved to meet a changed market, as well as the top trends from last year\'s summer batch.\nFound, meanwhile, centered on Graham Hine, the co-founder and CEO of ePlant, a startup that creates sensors to monitor the health of trees. Hine talked about what got him interested in the tree space to begin with and what it was like transitioning to being a founder after working for years at a startup founded by his brother.\nAnd over atChain Reaction, Charlie Shrem came on to discuss his work at the Bitcoin Foundation, which he founded, as well as his role as a general partner at Druid Ventures and host of the Charlie Shrem Show. After being charged with operating an unlicensed money-transmitting business and for allegedly attempting to launder over $1 million through the now-defunct dark web marketplace Silk Road, Shrem now vocally advocates for clearer crypto regulation, invests in crypto startups and even produces movies.\nTC+ subscribers get access to in-depth commentary, analysis and surveys — which you know if you’re already a subscriber. If you’re not,consider signing up. Here are a few highlights from this week:\nInvestors sit out of YC Demo Day:Y Combinator has long had a good reputation for picking companies that go on to be home runs for investors. And to get those investments, VCs have watched the accelerator’s biennial Demo Days to get a peek at the startups that could go on to become the next Instacart or Airbnb. But anecdotally, some of the lore surrounding Demo Day -- and YC in general -- has faded in recent years, Rebecca writes.\nTech companies find their groove:Tech companies are getting the hang of making money -- or at least they’re losing far less than they used to when money was cheap and "growth" was sexy, Alex writes. He\'s seeing this happen across the tech sector: in enterprise software, fintech, and, heck, even in the tech-adjacent digital direct-to-consumer market.\nThe business of paranoia:Platforms like Nextdoor, Citizen and even the Ring doorbell app are the modern neighborhood watch. But, unlike the neighborhood watches of yore, the era of "Hello, neighbor!" has evolved into "Why is my neighbor at my door?" Haje writes.', 'Hey, lovely people -- it\'s that time of week again: Week in Review (WiR) time. For those unfamiliar, WiR is TechCrunch\'s regular newsletter that recaps the major events in tech over the past few days. If you\'ve been too busy to keep tabs on recent happenings, don\'t panic. WiR is here to get you up to speed. In this week\'s edition of WiR, we cover a hacking device that can spam nearby iPhones with Bluetooth pop-ups, Y Combinator Demo Day favorites (and controversies), Bumble changing its policy to crack down on bots, doxing and spam, and Lenovo\'s new gaming glasses and PC handheld. We also spotlight the federal investigation over Tesla\'s "secret glass" project, Elon Musk suing the Anti-Defamation League, Texas\' efforts to enforce ID checks on porn sites and hacked male chastity cages (yes, really). It\'s a lot to get to, so let\'s dive right in. But first, if you haven’t already, don\'t forget to sign up here to get WiR in your inbox every Saturday. Most read Y Combinator controversy: Storied venture firm Y Combinator has removed an Indian startup from its batch after discovering "irregularities" at the company. Medobed, which promises medicine delivery in 10 minutes, was initially chosen for Y Combinator’s S23 batch. But after it was discovered that Medobed\'s founder frequently altered his account of his educational history and the company\'s growth metrics, Y Combinator severed ties. YC Demo Day: In lighter YC news, this week was Y Combinator\'s Demo Day, a two-day livestream of startups presenting in the VC firm\'s latest cohort. We have roundups from both days as well as a highlight of the AI startups that stood out to us for their technical -- or business -- novelty. Cheap iPhone tricks: Thanks to a popular and relatively cheap hacking tool, hackers can spam your iPhone with annoying pop-ups prompting you to connect to a nearby Apple device. A security researcher who asked to be referred to only as Anthony demonstrated this attack using a Flipper Zero, a small device that can be programmed to perform wireless attacks on devices in its range. Story continues Smart chastity cage hacked: In other, more bizarre hacking news, the manufacturer of a penis chastity device that can be controlled by a partner over the internet exposed users’ email addresses, plaintext passwords, home addresses and IP addresses, and -- in some cases -- GPS coordinates due to several flaws in its servers, according to a security researcher. Lorenzo has the full story. Bumble cracks down on spam: Dating app company Bumble has released updated community guidelines with the goal of cracking down on bots, spam, ghosting and doxing on both Bumble and Badoo, Bumble\'s alternative dating platform. Bumble is revamping its rules to weed out bots by banning actions like artificially influencing "connections, matching, conversations, or engagement through the use of automation or scripting," Ivan writes. Paw Patrol snacks recalled over porn: U.K.-based supermarket giant Lidl has issued a recall of Paw Patrol snacks after the website listed on the products’ packaging began displaying explicit content unsuitable for children. Affected products include Paw Patrol Yummy Bakes and Paw Patrol Mini Biscotti, snacks recommended for children aged two and above. Texas can\'t enforce online ID checks: A Texas judge issued an injunction this week to stall the enforcement of an online age verification bill. The Free Speech Coalition, along with adult video sites like Pornhub, led the legal challenge against Texas’ HB 1181 , arguing that the bill violates the First Amendment and infringes on rights guaranteed by Section 230 . Lenovo launches glasses and a handheld: At the annual IFA consumer electronics conference in Berlin, Lenovo unveiled the Legion Glasses, which starts at $329 and shares certain characteristics with Apple\'s Vision Pro , Brian writes. Alongside it, Lenovo debuted the $699 Legion Go, its answer to Valve\'s Steam Deck , which is not only more powerful than the Steam Deck in terms of processing power but also boasts a higher-resolution, higher-refresh-rate screen. Feds investigate Tesla: Manhattan federal prosecutors and the Securities and Exchange Commission are separately investigating the use of Tesla funds to bankroll a secret project that\'s described internally as a glass house in Austin, Texas, for CEO Elon Musk. Tesla board members are also reportedly involved in the investigation around the potential misuse of company resources on the project, known as "Project 42," and whether Musk was personally involved. Musk sues the ADL: If a federal investigation against Tesla wasn\'t enough, Musk says that X, formerly Twitter, will file a defamation lawsuit against the Anti-Defamation League, the nonprofit organization that works to combat antisemitism, extremism and bigotry. Musk accused the ADL of falsely accusing him and X, his company, of being antisemitic and also blamed the ADL for X’s falling U.S. advertising revenue. Audio In need of a podcast or two to round out your playlist? Good news -- TechCrunch has plenty to fit the bill. The newest episode of Equity featured Michael Seibel, current YC partner and managing director of YC Early Stage, who discussed how Y Combinator evolved to meet a changed market, as well as the top trends from last year\'s summer batch. Found , meanwhile, centered on Graham Hine, the co-founder and CEO of ePlant, a startup that creates sensors to monitor the health of trees. Hine talked about what got him interested in the tree space to begin with and what it was like transitioning to being a founder after working for years at a startup founded by his brother. And over at Chain Reaction , Charlie Shrem came on to discuss his work at the Bitcoin Foundation, which he founded, as well as his role as a general partner at Druid Ventures and host of the Charlie Shrem Show. After being charged with operating an unlicensed money-transmitting business and for allegedly attempting to launder over $1 million through the now-defunct dark web marketplace Silk Road, Shrem now vocally advocates for clearer crypto regulation, invests in crypto startups and even produces movies. TechCrunch+ TC+ subscribers get access to in-depth commentary, analysis and surveys — which you know if you’re already a subscriber. If you’re not, consider signing up . Here are a few highlights from this week: Investors sit out of YC Demo Day: Y Combinator has long had a good reputation for picking companies that go on to be home runs for investors. And to get those investments, VCs have watched the accelerator’s biennial Demo Days to get a peek at the startups that could go on to become the next Instacart or Airbnb. But anecdotally, some of the lore surrounding Demo Day -- and YC in general -- has faded in recent years, Rebecca writes. Tech companies find their groove: Tech companies are getting the hang of making money -- or at least they’re losing far less than they used to when money was cheap and "growth" was sexy, Alex writes. He\'s seeing this happen across the tech sector: in enterprise software, fintech, and, heck, even in the tech-adjacent digital direct-to-consumer market. The business of paranoia: Platforms like Nextdoor, Citizen and even the Ring doorbell app are the modern neighborhood watch. But, unlike the neighborhood watches of yore, the era of "Hello, neighbor!" has evolved into "Why is my neighbor at my door?" Haje writes.']...
**Last 60 Days of Bitcoin's Closing Prices:**
[]
Use the additional daily data provided in the input below for crucial context.
|
Daily Context for Date: 2023-09-09
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $504,566,373,075
- Hash Rate: 406464544.828122
- Transaction Count: 597409.0
- Unique Addresses: 927787.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.41
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Michael M. Santiago/Getty Images US stocks rose Thursday even as the 10-year Treasury yield hits the highest since 2008. The benchmark rate reached 4.30% after hawkish comments from the Fed. Dow Jones Industrial Average components Walmart and Cisco beat earnings views. US stocks opened higher Thursday amid positive earnings reports, while the 10-year Treasury yield hit the highest level since 2008. Dow Jones Industrial Average components Walmart and Cisco rallied after reporting strong quarterly earnings. Meanwhile, the 10-year yield reached 4.30% before easing back a bit. On Wednesday, minutes from the Federal Reserve's meeting last month revealed that policymakers remained concerned about inflation and were open to further rate hikes. The Labor Department also reported early Thursday that jobless claims fell to 239,000 last week from 248,000 in the prior week, largely matching forecasts for 240,000. The Philadelphia Fed's manufacturing index improved to 12.0 in August from -13.5 in July, topping estimates for -10.2. Here's where US indexes stood after the 9:30 a.m. opening bell on Thursday: S&P 500 : 4,419.66, up 0.38% Dow Jones Industrial Average : 34,851.37, up 0.25% (85.63 points) Nasdaq Composite : 13,525.47, up 0.38% Here's what else is going on today: Stocks will charge higher as economic fears fade and bears give up, Bill Miller said. Ken Griffin's Citadel is having another good year as its flagship fund surges 9%. US real yields surge to 2009 highs , recalling post-Lehman carnage. Load up on bonds for their juicy yields before the stock-market rally loses steam, said Morgan Stanley. In commodities, bonds, and crypto: Oil prices were lower. West Texas Intermediate crude oil climbed 1.1% to $80.26 a barrel. Brent , the international benchmark, rallied 1% to $84.29 a barrel. Gold edged up 0.08% to $1,930 per ounce. The yield on the 10-year Treasury rose 4 basis points to 4.298%. Bitcoin dipped 2.1% to $28,486. Read the original article on Business Insider...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Taking place at the Shilla Hotel in central Seoul, the sixth annual Korea Blockchain Week’s main two-day conference, Impact, hosted 263 different blockchain companies, attracting over 6,000 participants eager to learn about the industry’s ups and downs in a year dominated by bear market sentiment. Much of the 85 panel discussions focused on differences in the regulatory environments of the U.S. — traditionally the largest single crypto market and source of much of the industry’s funding — and Asia, where various jurisdictions including South Korea and Japan are creating a more crypto-friendly environment for developers and investors alike. Caroline Pham, a commissioner at U.S. regulator the Commodity Futures Trading Commission (CFTC), said during her fireside chat at KBW that she sees a unified approach between policymakers, regulators and the private sector in Asia that encourages innovation. “I think it’s funny that in the United States we have been so used to some of the tremendous successes that we’ve had in the tech sector that we take it for granted,” Pham said. “It’s like everything (in Asia) is 10 years ahead of where we are in the U.S.” That is less related to technical skill or knowledge, she said, but “because there’s an openness to technology and to changing things.” US scrutiny Another U.S. regulator, the Securities and Exchange Commission (SEC ), has stepped up scrutiny of the crypto industry this year based on the claim that most cryptocurrencies other than Bitcoin are securities. This logic has guided the agency’s lawsuits against a number of digital asset firms including software developer Ripple Labs , cryptocurrency exchange Coinbase Global and Paxos Trust, the issuer of the Binance USD (BUSD) stablecoin. Most of the SEC’s lawsuits are yet to be settled as the cryptos-as-securities claim is disputed by the companies involved. In July, the U.S. court ruled that programmatic sales of Ripple’s XRP token do not qualify as securities offerings. The SEC filed an appeal against the ruling the following month, which Ripple then asked the court to deny. Such delays in establishing crypto rules may hinder industry growth, former White House cybersecurity director Carole House said during a talk about the regulatory landscapes of the U.S. and Asia. House warned that “overly harsh” regulation of the crypto industry could stifle blockchain innovation in the U.S. In contrast, Konstantin Richter, the CEO and founder of California-based blockchain infrastructure company Blockdaemon, said regulatory scrutiny in the U.S. is a long-term positive for the industry, despite current difficulties. Story continues “Ultimately, all the legal travails that we have here are going to lead to clarity, which is really all we want,” Richter said in a video interview prior to the event. Eastward movement While opinions varied on U.S. crypto regulation, most conference participants agreed that the Asia region is taking significant regulatory strides. “I really do think that the Asia-Pacific has been a powerhouse driver,” House said, highlighting that Japan’s regulatory framework has contributed to the global standard for anti-money laundering in crypto. Sam Seo, the representative director of Klaytn Foundation, the public blockchain platform from the leading South Korean mobile platform Kakao, said he foresees a wave of companies moving to Asia to take advantage of the favorable conditions. Gemini, the cryptocurrency exchange founded by the Winklevoss brothers, announced in June that it is growing its headcount in Singapore to operate as a hub for expansion in the Asia-Pacific. Seo cited Klaytn’s new partnership with Luxembourg-based asset tokenization platform Tokeny as another example. Sam Seo, Representative Director at Klaytn Foundation. Image: Forkast “[Tokeny has] been operating their business for quite a long time, but they were mostly focused in the U.S. market or the Europe market. They are now looking at the Asia market,” said Seo, adding that he believes this is the “beginning of a bigger trend.” Dominic Jang, head of business development at Singapore-based blockchain game platform Oasys, said industry movement eastward to Asia is particularly apparent in the Web3 gaming sector. “We’re seeing more and more U.S. companies doing blockchain gaming seeking [the Asian market],” Jang said, adding that Asian audiences provide a growth market missing in the U.S. due to unfavorable regulations. Regulatory clarity Ryo Matsubara, a Japanese national and director of Oasys, said that regulatory clarity plays a big role in attracting business to Asia, citing the regulatory situation in Japan as an example. He said that after the high profile hacks of the Mt.Gox and Coincheck crypto exchanges in 2014 and 2018 respectively, Japanese regulators established a strict set of criteria for cryptocurrencies. “Under Japanese rules, crypto is crypto, not a security,” Matusbara said. “So making the [clear] definition of crypto is very important.” kbw In the case of South Korea, the country’s top financial regulator, the Financial Services Commission, announced a bill in July to amend securities regulations in a way that accommodates security token offerings, or STOs. While the bill has not yet received approval by legislators, major financial institutions are already looking to expand into the digital asset industry. On Aug. 30, South Korea’s financial leaders Woori Bank, Samsung Securities and SK Securities formed an alliance for cooperation on developing security tokens. Hong Kong also successfully rolled out its own crypto licensing regime earlier this year, positioning itself as a digital asset regulatory sandbox for China. In Southeast Asia, Singapore and Thailand ramped up crypto user protection regulations in July. Singapore now mandates that crypto firms must hold customer assets in third-party trusts, while Thai authorities introduced bans on crypto lending and staking services. Despite the tightening of restrictions, the new rules are seen as necessary for industry growth in the two countries. Move over, USA? While SEC boss Gary Gensler’s term ends in June 2026, he has been on the end of calls to resign from U.S. crypto advocates who consider him hostile to the industry. #FireGaryGensler was trending on X, formerly Twitter, on Aug. 30 after a U.S. district court ruled against the SEC’s denial of Grayscale Investment’s Bitcoin exchange-traded fund proposal on the grounds it was “arbitrary.” “His voice is quite the opposite to that of Web3 and crypto projects,” Seo said, adding that Gensler’s words have “a big impact” on the industry and its perception among the public. Asia’s chance of challenging the U.S. to become the center of the crypto world therefore “depends on who will be the successor” to Gensler at the SEC, Seo said. If the current period of regulatory scrutiny continues much longer, he added, it could drive the nation’s talent to look for friendlier locations in Asia or Europe. The Klaytn director concluded by saying that blockchain innovation is key to Asia’s success. While U.S. financial markets are strong, he said, Asia is far more populous and can take the reins as the world’s leader in Web3 — if it finds the right ways to put blockchain tech to use. View comments', 'Taking place at the Shilla Hotel in central Seoul, the sixth annual Korea Blockchain Week’s main two-day conference, Impact, hosted 263 different blockchain companies, attracting over 6,000 participants eager to learn about the industry’s ups and downs in a year dominated by bear market sentiment. Much of the 85 panel discussions focused on differences in the regulatory environments of the U.S. — traditionally the largest single crypto market and source of much of the industry’s funding — and Asia, where various jurisdictions including South Korea and Japan are creating a more crypto-friendly environment for developers and investors alike. Caroline Pham, a commissioner at U.S. regulator the Commodity Futures Trading Commission (CFTC), said during her fireside chat at KBW that she sees a unified approach between policymakers, regulators and the private sector in Asia that encourages innovation. “I think it’s funny that in the United States we have been so used to some of the tremendous successes that we’ve had in the tech sector that we take it for granted,” Pham said. “It’s like everything (in Asia) is 10 years ahead of where we are in the U.S.” That is less related to technical skill or knowledge, she said, but “because there’s an openness to technology and to changing things.” US scrutiny Another U.S. regulator, the Securities and Exchange Commission (SEC ), has stepped up scrutiny of the crypto industry this year based on the claim that most cryptocurrencies other than Bitcoin are securities. This logic has guided the agency’s lawsuits against a number of digital asset firms including software developer Ripple Labs , cryptocurrency exchange Coinbase Global and Paxos Trust, the issuer of the Binance USD (BUSD) stablecoin. Most of the SEC’s lawsuits are yet to be settled as the cryptos-as-securities claim is disputed by the companies involved. In July, the U.S. court ruled that programmatic sales of Ripple’s XRP token do not qualify as securities offerings. The SEC filed an appeal against the ruling the following month, which Ripple then asked the court to deny. Such delays in establishing crypto rules may hinder industry growth, former White House cybersecurity director Carole House said during a talk about the regulatory landscapes of the U.S. and Asia. House warned that “overly harsh” regulation of the crypto industry could stifle blockchain innovation in the U.S. In contrast, Konstantin Richter, the CEO and founder of California-based blockchain infrastructure company Blockdaemon, said regulatory scrutiny in the U.S. is a long-term positive for the industry, despite current difficulties. Story continues “Ultimately, all the legal travails that we have here are going to lead to clarity, which is really all we want,” Richter said in a video interview prior to the event. Eastward movement While opinions varied on U.S. crypto regulation, most conference participants agreed that the Asia region is taking significant regulatory strides. “I really do think that the Asia-Pacific has been a powerhouse driver,” House said, highlighting that Japan’s regulatory framework has contributed to the global standard for anti-money laundering in crypto. Sam Seo, the representative director of Klaytn Foundation, the public blockchain platform from the leading South Korean mobile platform Kakao, said he foresees a wave of companies moving to Asia to take advantage of the favorable conditions. Gemini, the cryptocurrency exchange founded by the Winklevoss brothers, announced in June that it is growing its headcount in Singapore to operate as a hub for expansion in the Asia-Pacific. Seo cited Klaytn’s new partnership with Luxembourg-based asset tokenization platform Tokeny as another example. Sam Seo, Representative Director at Klaytn Foundation. Image: Forkast “[Tokeny has] been operating their business for quite a long time, but they were mostly focused in the U.S. market or the Europe market. They are now looking at the Asia market,” said Seo, adding that he believes this is the “beginning of a bigger trend.” Dominic Jang, head of business development at Singapore-based blockchain game platform Oasys, said industry movement eastward to Asia is particularly apparent in the Web3 gaming sector. “We’re seeing more and more U.S. companies doing blockchain gaming seeking [the Asian market],” Jang said, adding that Asian audiences provide a growth market missing in the U.S. due to unfavorable regulations. Regulatory clarity Ryo Matsubara, a Japanese national and director of Oasys, said that regulatory clarity plays a big role in attracting business to Asia, citing the regulatory situation in Japan as an example. He said that after the high profile hacks of the Mt.Gox and Coincheck crypto exchanges in 2014 and 2018 respectively, Japanese regulators established a strict set of criteria for cryptocurrencies. “Under Japanese rules, crypto is crypto, not a security,” Matusbara said. “So making the [clear] definition of crypto is very important.” kbw In the case of South Korea, the country’s top financial regulator, the Financial Services Commission, announced a bill in July to amend securities regulations in a way that accommodates security token offerings, or STOs. While the bill has not yet received approval by legislators, major financial institutions are already looking to expand into the digital asset industry. On Aug. 30, South Korea’s financial leaders Woori Bank, Samsung Securities and SK Securities formed an alliance for cooperation on developing security tokens. Hong Kong also successfully rolled out its own crypto licensing regime earlier this year, positioning itself as a digital asset regulatory sandbox for China. In Southeast Asia, Singapore and Thailand ramped up crypto user protection regulations in July. Singapore now mandates that crypto firms must hold customer assets in third-party trusts, while Thai authorities introduced bans on crypto lending and staking services. Despite the tightening of restrictions, the new rules are seen as necessary for industry growth in the two countries. Move over, USA? While SEC boss Gary Gensler’s term ends in June 2026, he has been on the end of calls to resign from U.S. crypto advocates who consider him hostile to the industry. #FireGaryGensler was trending on X, formerly Twitter, on Aug. 30 after a U.S. district court ruled against the SEC’s denial of Grayscale Investment’s Bitcoin exchange-traded fund proposal on the grounds it was “arbitrary.” “His voice is quite the opposite to that of Web3 and crypto projects,” Seo said, adding that Gensler’s words have “a big impact” on the industry and its perception among the public. Asia’s chance of challenging the U.S. to become the center of the crypto world therefore “depends on who will be the successor” to Gensler at the SEC, Seo said. If the current period of regulatory scrutiny continues much longer, he added, it could drive the nation’s talent to look for friendlier locations in Asia or Europe. The Klaytn director concluded by saying that blockchain innovation is key to Asia’s success. While U.S. financial markets are strong, he said, Asia is far more populous and can take the reins as the world’s leader in Web3 — if it finds the right ways to put blockchain tech to use. View comments']...
**Last 60 Days of Bitcoin's Closing Prices:**
[]
Use the additional daily data provided in the input below for crucial context.
|
Daily Context for Date: 2023-09-10
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $503,378,279,662
- Hash Rate: 395697272.1174433
- Transaction Count: 558395.0
- Unique Addresses: 847065.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.40
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: 36Kr Holdings Inc. (NASDAQ: KRKR ) Q2 2023 Earnings Call Transcript August 31, 2023 Operator: Hello, ladies and gentlemen, thank you for standing by for 36Kr Holdings Inc.'s Second Quarter 2023 Earnings Conference Call. [Operator Instructions] After management's remarks, there will be a question-and-answer session. Today's conference is being recorded. I will now turn the call over to your host, Jainan [ph], IR Manager of the company. Please go ahead, Jainan [ph]. Unidentified Company Representative: Thank you very much. Hello everyone and welcome to 36Kr Holdings second quarter 2023 earnings conference call. The company's financial and operational results were released earlier today and have been made available online. You can also view the earnings press release by visiting the IR section of our website at ir.36kr.com. Participants on today's call will include our Co-Chairman and CEO, Mr. Dagang Feng; and our Chief Financial Officer, Ms. Lin Wei. Mr. Feng will start the call by providing an overview of the company and performance highlights of the quarter in Chinese, followed by an English interpretation. Ms. Wei will then provide details on the company's financial results before opening the call for your questions. Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor Provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding this and other risks and uncertainties is included in the company's prospectus and other public filings as filed with the U.S. SEC. The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please note that 36Kr's earnings press release and this conference call include discussions of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. Story continues 36Kr's earnings press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures. And please note that all amount numbers are in RMB. I will now turn the call over to our Co-Chairman and CEO, Mr. Dagang Feng. Pal, please go ahead. Dagang Feng: Thank you. Hello, everyone. Thank you for joining our second quarter 2023 earnings conference call. We are glad to note that our primary business segments continue to develop with steady growth in the second quarter of 2023. Our total revenue increased by 3% year-over-year, with revenue from our enterprise value-added services up 17% year-over-year and revenue from our subscription services up 11% year-over-year. Notably, our gross margin rebounded strongly to 55%. We also made great strides in both 2B and 2C businesses as we continue to enhance our high-quality multidimensional content matrix and deeply form [ph] AI empowerment and applications in diverse scenarios across our business segments, we embarked on the new development stage of diversified growth. First off, content, we particularly explore new growth areas for our content ecosystem during the COVID and made great advancements on multiple fronts, including greater industry coverage, content asset accumulation, high-quality customer engagement and our broadening multichannel distribution network. Furthermore, the number of our blockbuster articles kept rising in the second quarter. We had 160 articles [ph] with pageviews exceeding 100,000, fully showcasing 36Kr's leading insights and industry influence. Our consistent creation of high-quality content enabled us to meaningfully expand our user base and enhance long-term user loyalty. As of the end of the second quarter, we had more than 30 million followers, up 21% year-over-year, achieving 9 consecutive quarters of growth. The vertical media we launched, including Waves and the Emergency of Intelligence, achieved continuous impressive outcomes, allowing users to gain deeper insights into booming sectors and equally important, further cementing our leadership in the New Economy sector. We also further solidified our content advantage in our 2C business during the quarter by optimizing the content of Super Review, a product test review program and Youth White Paper, a survey report column, we attracted a broader audience through more appealing content offerings on everyday life. We also enriched our media format through the launch of a live broadcast entitled [indiscernible]. We have also been actively working on audio offerings to bring more listeners more up-to-the-minute business intelligence as well as fun ideas and topics to enjoy each day. I also want to highlight our short video business to an integrated approach to branding, New Economy content and content monetization. We have accelerated optimization of our short video content matrix, transforming it into a new growth region for advertising and marketing. Some of the short videos were created on trending topics were streamed over 1 million times, including Coffee Home [ph], Why Buy When You Can Rent and Elon Musk's Plan on Earth, thanks to their diverse ideas and fresh perspectives that kept our users engaged. As of the end of the second quarter, we had over 8.3 million short video followers, up 42% year-over-year, among which more than 2 million were Bilibili users. We have indeed become a leader among all platform-based official accounts and we stand ready to seize more opportunities for commercialization of cooperation. We also successfully wrapped up the first season of our first long video show Foreseeing 2033 which will soon return for a second season and attracted immerse audience attention, bringing us additional commercialization opportunities with leading companies. As we diversify and strengthening our content landscape with innovative things and formats, we also developed our short video lineup on a wide variety of platforms, including Bilibili, Douyin, Kuaishou, Xiaohongshu, Xigua and WeChat Video Account, partnering diverse groups of users with precise marketing. These initiatives made our content more engaging and empowered more effective, more powerful communication with users. Recently, we entered into a strategic cooperation with Beijing Radio and Television Station to promote the full life cycle synergetic development of long videos from project planning and content production all the way to distribution, promotion and IP commercialization. We also explore more AIGC use big cases for our business during the quarter. Through content production, product innovation, we have been actively integrating pioneering AI technology into our day-to-day operations, including copywriting translation, keyword matching, image generation and intelligent customer service among other functions. In our AI e-commerce store, our first live-streaming sales session hosted by digital humans was a big hit with 160,000 views and a impressive daily GMV exceeding RMB10,000. It was included in Taobao's list of super-sorted [ph] emerging shopping stores. During the 618 e-commerce shopping festival, we were featured on China Central Television and the program was broadcast on multiple channels, including CCTV.com as well as the CCTV App. Our AI marketing success story was again highly recognized by the China Content Marketing Award, a testament to our leadership in AI innovation and applications. On a related note, we recently entered into a strategic cooperation with Baidu, joining hands in broadening AI application across our media platforms, enterprise services and training, driving commercialization and innovation as we empower mutual growth. Our teams are working closely on a diversified AI-powered landscape, including content production and application marketplace showcasing applications powered by large language model, LLM functions, LLM solutions and training programs on AI applications. In summary, as we persistently advance and empower our content ecosystem with AI technology, we propelled our business steady growth, laying a solid foundation for continuous performance improvement. Next, I'd like to review our commercialization progress during the second quarter. In the second quarter of 2023, our total revenue increased by 3% year-over-year to RMB84.36 million. Notably, our advertising revenue reached RMB57 million, basically on par with the same period last year. Our advertising ARPU increased to RMB310,000, up 14% year-over-year. 36Kr provides customers with differentiated content offerings and creative services tailored to the features of each and every brand. Our one-stop marketing solution centered on branding and efficacy provide customers with precise effective marketing promotions, targeting diverse customer groups. In the second quarter, to actively address the need of our customers, we deepened the cooperation with global giants such as Alibaba, JD.com and Huawei and added new accounts to broadening our industry reach. We also signed the Givenchy, our first luxury brand and designed an innovative, engaging flash and content to them. Furthermore, we created diverse promotional content for [indiscernible] household applicants in the form of graphics, texts, videos as well as test reviews and promoted them across numerous online channels through our new media matrix. Our multidimensional targeted approach helped effectively reach their target users, winning us race from the time. Next, our short video business which delivered another quarter of stellar results. In the second quarter of 2023 as Tencent's advertising business partner, we were invited to Cannes and offer extensive onsite coverage at the Cannes Lions International Festival of Creativity. Meanwhile, we released a short-form TV commercial with [indiscernible] tell its low carbon story showcasing strong ESG commitment. Regarding the auto content matrix we launched earlier this year, our WeChat Video Account, 36Kr Auto delivered a short video promotion for BMW during the second quarter, featuring the evolution of the auto industry in the circular economy. With our short video business, we have established a virtuous cycle where our primary content attracts users and increases their stickiness, driving an overall increase in traffic. We then leverage our massive traffic to attract greater advertising interest from even more lending partners. With respect to enterprise value-added services, our revenues were up 17% year-over-year to RMB16.8 million. We greatly increased the number and scale of our events during the second quarter as consumption and offline activities regain steam. We hosted the All-New Summit WISE, integrating venture capital, technology, culture and music teams to create open and relaxed social networking scenarios for the younger generation further enhancing 36Kr's brand awareness and influence. In the meantime, as part of our continued efforts in global expansion and sustainable development, we hosted the WISE 2023 Globalization Value Conference opportunity for vibrance. In addition to our TV business, we continue to effectively reach more high-quality users in our PC business, successfully attracting a wide range of young customers with our lifestyle festival, CityLab. We have also made meaningful progress in developing and expanding our regional business. We successfully staged a various sharing sessions, featuring stylish items in SKP-S shopping malls across Beijing, Chengdu and Xi'an in the quarter, fully reflecting our ability to support innovation among our large enterprise customers. investor relations Pixabay/Public Domain Next, our consulting services. As a shrewd observer providing insights into industry trends, 36Kr Research Institute has always been dedicated to in-depth research on cutting-edge technologies, innovation trends and business tax development. Leveraging massive data analysis and business insights, we provide informed opinions and the guidance on industrial transformation and innovation. In the second quarter, we joined hands with NetEase Cloud Music in releasing the post 20,000 generation long-form audio consumption trend report, providing a valuable reference for the audio content industry as well as strong support for our commercialization in long-form audio consumption. As for subscription services, we made great strides in training programs, substantially increasing our revenue by 11% to RMB10.6 million. In the second quarter, 36Kr Business School cooperated with the University of Oxford to launch [indiscernible] College Postdoctoral Research Program. This program brought top-tier learning experiences to our users through a combination of online and offline initiatives, driving a vast increase in our ARPU to over RMB42,000. Meanwhile, we continue to enrich the high-quality training courses offered through our Venture Capital Class and the Funding Acceleration Camp, further providing high-quality user growth and drawing in place from a wide array of the orders. Last but not least, I'd like to share an update on the 36Kr Enterprise Services Review Platform. While continuously refining core product information, we rolled out multidimensional rankings based on our analysis of data across the platform. Through AI applications and empowerment, we provided users with more precise and efficient overall product information and decision-making support and enabled more interactive user-friendly intelligent customer service. As of the end of the second quarter, the cumulative number of reviews increased by 99% year-over-year. The cumulative number of products on the platform was up 40% year-over-year as the number of merchants on the platform increased by 43% [ph] year-over-year. Commercially, the 36Kr Enterprise Services Review Platform has won lasting customer trust with its high-quality products and services, securing long-term cooperation with SaaS manufacturers in various fields, including [indiscernible]. Looking ahead, the 36Kr Enterprise Service Review Platform will continue to address our customers' needs to better support their digital transformation, making both marketing and customer acquisitions either for enterprise customers. We will play an even more active role in AI integration and application to attain more sophisticated intelligent operations. To sum up, for the second quarter, we delivered solid financial results once again with total revenue of RMB84.4 million, maintaining growth momentum both year-over-year and quarter-over-quarter. Our gross margin also rebounded to the above 55% level. Moreover, we continue to enhance our content influence and build our competitive advantages in the New Economy sector. The number of followers exceeded 30 million, country-wise by nine quarters straight [ph]. We believe the boom of generative AI and LLM has lavished tremendous opportunities on the content industry. Our consistent commitment to innovation, unravelled technology foresight and thorough cooperation with global giants will further empower us as we progressively integrate AI into our business scenarios propelling long-term high-quality growth across all our business segments. With that, I will now turn the call over to our CFO, Ms. Lin Wei, who will discuss our key financial results. The floor is yours, Lin. Lin Wei: Thank you, Pal. Now I'd like to walk you through more details of our second quarter 2023 financial results. Please note all amount numbers are in RMB, unless otherwise stated. Total revenues increased by 3% to RMB84.4 million in the second quarter of 2023, up from RMB81.7 million in the same period of last year. Online advertising services revenues were RMB57 million in the second quarter of 2023 compared to RMB57.8 million in the same period of last year. The slight year-over-year decrease was primarily attributable to the lagging effect of the macro economy which is still in the early stage of recovery. Enterprise value-added services revenues increased by 17% to RMB16.8 million in the second quarter of 2023 as we continuously developed various proactive enterprise level services for our customers. Our offline events business achieved notable growth during the quarter as the reopening continues and we hosted several successful conferences and summits. Subscription services revenue increased by 11% to RMB10.6 million in the second quarter of 2023 compared to RMB9.5 million in the same period of last year. The increase was primarily attributable to our continuous efforts to offer high-quality subscription products to our subscribers. Cost of revenues was RMB37.6 million in the second quarter of 2023 compared to RMB30.8 million in the same period of last year. The increase was primarily attributable to higher fulfillment costs and content costs. Gross profit was RMB46.7 million in the second quarter of 2023 compared to RMB50.9 million in the same period of last year. Gross profit margin was 55% in the second quarter of 2023 compared to 42% in the previous quarter and 62% in the same period of last year. As we forecasted on our Q1 earnings call, our GP margin rebounded strongly as expected and was back to the above 55% level. On a year-over-year basis, the slight decrease was primarily attributable to the resumption of offline events and offline training courses which usually occur at higher costs. Operating expenses were RMB65.1 million in the second quarter of 2023, slightly increasing by 1% compared to RMB64.6 million in the same period of last year. Sales and marketing expenses were RMB33.9 million in the second quarter of 2023, an increase of 24% from RMB27.4 million in the same period of last year. This was primarily attributable to the increase in payroll-related expenses and business travel-related expenses. G&A expenses were RMB17.7 million in the second quarter of 2023, a 26% decrease compared to RMB23.8 million in the same period of last year. The decrease was primarily attributable to the decrease in payroll-related expenses, share-based compensation expenses, professional fees and allowance for credit losses. Research and development expenses were RMB13.6 million in the second quarter of 2023, slightly increasing from RMB13.4 million in the same period of last year. This was primarily attributable to the increase in payroll-related expenses as well as bandwidth and server expenses, partially offset by the decrease in share-based compensation expenses. Share-based compensation expenses recognized in cost of revenues, sales and marketing expenses, research and development expenses, as well as G&A expenses totaled RMB1.8 million in the second quarter of 2023 compared to RMB2.6 million in the same period of last year. Other income was RMB4.8 million in the second quarter of 2023 compared to RMB22.7 million in the same period of last year. The decrease was primarily because the company recognized approximately RMB18.5 million of investment income arising from fair value change of long-term investments in the second quarter of last year. Net loss was RMB13.7 million in the second quarter of 2023 compared to net income of RMB9 million in the same period of last year. Non-GAAP adjusted net loss was RMB11.9 million in the second quarter of 2023 compared to non-GAAP adjusted net income of RMB11.6 million in the same period of last year. Net loss attributable to 36Kr's ordinary shareholders was RMB13.9 million in the second quarter of 2023 compared to net income attributable to 36Kr's ordinary shareholders of RMB8 million in the same period of last year. Basic and diluted net loss per ADS of both RMB0.335 in the second quarter of 2023 compared to basic and diluted net income per ADS of RMB0.195 in the same period of last year. As of June 30, 2023, the company had cash, cash equivalents, restricted cash and short-term investments of RMB136.5 million compared to RMB169.8 million as of March 31, 2023. The decrease was mainly attributable to net cash outflow from operating activities which include approximately RMB10 million cash payments related to the company's move of its headquarters to a lower rental office building in Beijing. This concludes all of our prepared remarks today. We will now open the call to questions. Operator, please go ahead. See also 25 Countries with the Most Patent Grants in 2023 and 25 Countries that Mine the Most Bitcoin . Q&A Session Operator: [Operator Instructions] Our first question today will come from Jing Chen of CICC. Jing Chen: I have 2 questions. The first is how is the advertising market and the company's business recover in the third quarter? And what is the outlook for the recovery trend afterwards? And the second question is, as offline activities return to normal, what are the company's plans of upgrades to offline activities? Lin Wei: Thank you, Jing. This is Lin. I will answer your first question on advertising. We think as the market recovers, the demand for advertising as expected gradually increase. And the growth of advertisements usually has lagging effect as the macro economy is still in the early stage of recovery. And if you look at 36Kr, our client pool of advertising, we have both big names, big companies, including the Fortune 500 as well as the giant of the Internet names and the big brands. But also on the other hand, we have mostly a lot of new economy clients and usually, they are the mid to -- small to medium-sized companies which usually have a more cautious advertising spending compared to those big names. If you look at our Q2 results, actually, our number of advertising customers decreased compared to a year ago but our advertising ARPU grew strongly compared to a year ago. So net-net, the advertising revenue is basically on par from a year ago. So that's the Q2 results. And if you look at -- if you are asking our Q3 outlook or the guidance for the rest of the year, we think because we already observed the recovery of the macro economy and we think we have an optimistic view, although we might have a cautiously optimistic view but still optimistic for the rest of the year. And we think our advertising will go back to the upward trend, meaning we will still achieve year-over-year growth for the next 2 quarters for 2023. And hopefully, that answers your question. Thank you. Dagang Feng: Thank you, Jing. Let me answer your second question. This year, we designed a launch a variety of offline events. We were pleased with the number of events we hosted as well as the commercialization achievements gaining momentum on both fronts. In the meantime, with creative initiatives through events like our All-New Summit WISE and our 2C lifestyle festival, CityLab, will greatly enhance the skill and influence of our offline events. Meanwhile, 36Kr Business School programs were also in full swing as we continue to enrich the content and format of the new online courses offered through our Venture Capital Class and Funding Acceleration Camp. We launched an all-new degree-based program in partnership with the University of Oxford, driving a vast increase in our ARPU to over RMB42,000. Jing Chen: Thank you. Operator: And our next question today will come from [indiscernible] of Industrial Securities. Unidentified Analyst: The management just mentioned about the business opportunity brought by AI. So I want -- could you give us more color about more relevant plan about your AI internal use product offering and cooperation with the AI enterprise? Dagang Feng: Thank you, Jiajun. Let me answer your questions from 3 perspectives. First of all, we're proud of our consistent nuanced understanding and foresight in terms of generative AI technology. Besides launching our vertical sub-media, the Emergency of Intelligence, we also hosted our WISE 2023 AIGC Summit in the second quarter. By continuously offering the latest developments, special reports and in-depth interpretation of AI, we have inspired the public with a steady stream of insights and stimulating ideas. Second, we have been actively integrating pioneering generative AI into our day-to-day operations, including copywriting translation, keyword matching, image generation and an intelligent customer service among other functions. By reducing manual efforts and saving time and resources, AI effectively facilitate our cost reduction and efficiency enhancement. I would like to point out that 36Kr was the first ever industry pioneer in using AI technologies to create an e-commerce store on Taobao, launching live-stream sales sessions hosted by digital humans and we were exclusively featured on CCTV with multiple follow-up initiatives. In addition, we recently entered into a strategic cooperation with Baidu, joining hands in broadening AI applications across our media platform, enterprise services and training offerings, driving commercialization and innovation as we empower the manual goals. Our teams are working closely on a diversified AI-powered landscape, including content production, an application marketplace showcasing applications powered by large language model, LLM functions, LLM solutions and training program on AI applications. Operator: Our next question today will come from Lingyi Zhao of SWS Research. Lingyi Zhao: The short video business has been doing really well and what's our plan to further tap into this growth potential? Dagang Feng: Thank you, Lingyi. First of all, we will continue to launch diversified content offerings and further expand our 2C products. At present, our short video lineup covers diverse topics, including technological innovation, business insight and lifestyle delighting users with a variety of content options. In addition, multichannel content distribution remains a key focus for us. In addition to posting on short video media platforms, including Bilibili, Douyin, Kuaishou, Xiaohongshu, Xigua and WeChat Video Account, we also actively expanded our reach across social media platforms. We are pleased to see the number of our short video followers surpass 8.3 million, up 42% year-over-year, among which more than 2 million were Bilibili users. Regarding our commercial cooperation for creative brand marketing, we signed additional customers from a wide array of industries. Revenue from this segment doubled year-over-year, accounting for more than 20% of our total advertising revenue. Operator: Our next question today will come from Richie [ph] of Sealand Securities. Unidentified Analyst: How did the company achieve a rebound in gross profit margin this quarter? Lin Wei: Thank you, Richie [ph]. This is Lin. I will take your questions regarding gross profit margin. I think the rebound is mainly attributable to our seasonality of our business nature as well as the economy of scale. We have mentioned several times on our previous calls that our cost structure is largely fixed. That means when our revenues grow, there is not such a linear relationship between our revenue growth and cost growth. So if you look at our Q2 revenues, our sequential revenue growth was almost 52%. That's a very big jump. But if you look at our cost, actually, our cost only grew by 5%. That's a very obvious economy of scale. So that's basically the seasonality and the economy of scale contributed to the sequential strong rebound of our GP margin. And also, we -- in Q1, we started off several new content initiatives. For example, we launched our first long-form video program called Broadcasting Foreseeing 2033. That's a long-form video we started to produce in the beginning of the year. So in Q1, we basically haven't started off the commercialization. But in Q2, this program has been very well received by both the audiences and also the -- our advertising customer. So in Q2, we have achieved revenue to cover the cost -- production cost of this program and actually more than cover the cost of this program. So that's why that's another reason contributing to our GP management growth. And looking ahead, we think our GP margin, we will be able to maintain at a high level of 55% or even between 55% to 60% because as we said, we believe our advertising revenue will continue to grow and advertising revenue is a relatively high-margin business and our enterprise value-added services as well as our cleaning business will also grow, that will contribute to higher revenue and hence contribute to higher gross profit and GP margin. Hope this answers your question, Richie. Thank you. Operator: As there are no further questions, I'd like to now turn the call back over to the company for closing remarks. Unidentified Company Representative: Thank you once again for joining us today. If you have further questions, feel free to contact 36Kr's Investor Relations through the content information provided on our website or The Piacente Group Investor Relations. Lin Wei: Thank you. Operator: This concludes the conference call. You may now disconnect your line. Thank you....
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['There was red ink across the crypto market Monday morning in Asia as Bitcoin dipped below the resistance level of US$26,000. Ether also fell to near the US$16,000 mark after a hack on the X account of Ethereum founder Vitalik Buterin. Other top 10 non-stablecoin cryptocurrencies logged losses. Solana’s SOL led the losers with a 24-hour slide of over 6%. Bankrupt crypto exchange FTX could soon get the greenlight to liquidate its US$3.4 billion in crypto holdings, adding to selling pressure in the market. U.S. stock futures traded higher after Wall Street logged weekly losses Friday. Investors now look ahead to the release of more U.S. inflation data later in the week for clues on upcoming interest rate policy.\nBitcoin dipped 0.25% in the last 24 hours to US$25,831.97 as of 07:50 a.m. in Hong Kong. It lost 0.53% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency briefly traded above US$26,000 last Friday. But it soon lost that support level and remained range bound over the weekend at around US$25,900.\nEther, the Ethereum blockchain’s native token, fell 1.12% to US$1,616.79, and dropped 1.18% over the past seven days.\nEthereum founder Vitalik Buterin’s account on X, formerly Twitter, was hacked Sunday, leading tolossestotalling around US$691,000 for some of Buterin’s followers, according to blockchain investigator ZachXBT. Hackers posted links to a scam non-fungible token (NFT) project on Buterin’s Twitter page, advising users to connect their crypto wallets before withdrawing the funds.\nButerin’s father confirmed in atweetSunday that his son had been hacked and was restoring his X account. The alleged scam post has now been removed from the account. Buterin himself is yet to comment on the hack.\nAll other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. Solana led the losers, falling 6.17% to US$18.25 for a weekly loss of 6.80%.\nOn Sunday, a Wall Street Journalreportpredicted a September pause in the U.S. Federal Reserve’s interest rate hiking cycle. The report “probably had many investors re-thinking their valuations — not just for crypto but for risk assets in general,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\nThe market is also facing downward pressure from the latest FTX news. The collapsed cryptocurrency exchange is likely to receive approval on Sept.13 to start liquidating its crypto holdings, according to a tweet Saturday from blockchain analysts Whale Alert.\nAfterfiling for bankruptcyin November 2022, the exchange still holds anestimatedUS$3.4 billion worth of crypto assets. Part of the bankruptcyplanset up for the firm allows for the sale of up to US$100 million in crypto assets per week, which can be extended to US$200 million under certain circumstances.\nCrypto analysts suggest the news could weigh on the market after gains earlier in the summer. Blockchain research firm IntoTheBlocktweetedSunday that “despite positive news aboutVisaand a potentialspot ETH ETF, FTX’s impending US$3 billion liquidation could be dictating market movement.”\nThe selling pressure from FTX will cause altcoins to underperform Bitcoin throughout the remainder of the year, Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in a SundayLinkedIn post.\nThe potential selling of FTX’s crypto holdings could hit Solana particularly hard, according to Rachael Lucas, crypto technical analyst at Australia-based crypto exchange BTC Markets. The token “forms a substantial portion of these assets, with an estimated value of approximately $685 million. This impending event has heightened the sense of uncertainty among SOL investors.”\nMeanwhile, Bitcoin is on the verge of a “death cross” — where the token’s short-term, 50-day Simple Moving Average (SMA) moves below its long-term, 200-day SMA. That could signal a coming slide in Bitcoin prices, Lucas said.\nAs of 09:50 a.m. in Hong Kong, Bitcoin’s 50-day SMA sat at US$27,658.19, with a 200-day SMA of US$27,608.57. Following the previous Bitcoin death cross on Jan.14, 2022, the token’s price dropped over 10% within seven days.\n“The looming question that occupies the minds of market participants pertains to whether Bitcoin will chart a similar course in response to this bearish technical pattern or has the market already priced in this event?” Lucas said.\n“This uncertainty is exacerbated by the forthcoming release of U.S. inflation figures, with technical indicators currently signalling the potential for further downside,” she added.\nThe total crypto market capitalization dropped 0.74% in the past 24 hours to US$1.04 trillion. Trading volume rose 50.61% to US$20.25 billion.\nU.S. stock futures edged up as of 11:00 a.m. in Hong Kong. All three major U.S. indexes closed moderately higher on Friday but logged weekly losses. The Dow Jones Industrial Average led the winners on Friday with a 0.22% uptick, but ended the week 0.86% lower.\nThe main stock indexes in Asia were mixed on Monday morning. China’s Shanghai Composite and South Korea’s Kospi moved higher. Hong Kong’s Hang Seng dropped 1.38% while Japan’s Nikkei 225 also posted a 0.19% loss.\nThe U.S. consumer price index (CPI) for August will be released on Wednesday. Analystsexpectthe inflation gauge to rise 3.8% year-on-year, up from 3.2% in July, according to the Federal Reserve Bank of Cleveland last Friday.\nA recent rise inoil pricesand stronger-than-expectedgrowthin U.S. services recorded last week have fueled inflation concerns in the U.S.,Reutersreported Saturday.\n“My expectation is that the CPI print could come in higher than expected (with) the price of oil pushing higher,” Phil Blancato, chief executive officer of U.S.-based investment advisory firm Ladenburg Thalmann Asset Management, said in the report.\n“We have a problem where ultimately the Fed may be pushed into a corner, and while they might take a pause because of the lag effect, I don’t think they’re done,” said Blancato.\nThe CPI prediction of 3.8% is still higher than the Federal Reserve’s long-term goal of reducing the annual inflation rate below 2%. The Fed raised the interest rate in July to between 5.25% and 5.50%, the highest level since early 2001.\nThe U.S. CPI data on Wednesday is unlikely to affect Fed thinking ahead of its September meeting, Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz, tweeted on Monday. But it could influence future rate decisions, beginning November, he said.\nTheCME FedWatch Toolpredicts a 93% chance the central bank will maintain the current rate unchanged in September. It gives a 53.5% chance for another pause in November, down from 57.4% last Friday.\nMeanwhile, China’s CPI index posted a slim annual increase of 0.1% in August. The increase haseaseddeflationary pressure on Beijing slightly\n“Many data we’re seeing now shows that the economy’s slump may be slowing in the coming months,” Raymond Yeung, chief economist for Greater China at Australia & New Zealand Banking Group Ltd., toldBloomberg. Yeung also noted a slowdown in China’sexportslump in August. But he said the slowdowns should not be read as a sign of long-term recovery just yet.\n“It will be more of a stabilization instead of a complete rebound,” Yeung said.\n(Updates with equity section.)', 'There was red ink across the crypto market Monday morning in Asia as Bitcoin dipped below the resistance level of US$26,000. Ether also fell to near the US$16,000 mark after a hack on the X account of Ethereum founder Vitalik Buterin. Other top 10 non-stablecoin cryptocurrencies logged losses. Solana’s SOL led the losers with a 24-hour slide of over 6%. Bankrupt crypto exchange FTX could soon get the greenlight to liquidate its US$3.4 billion in crypto holdings, adding to selling pressure in the market. U.S. stock futures traded higher after Wall Street logged weekly losses Friday. Investors now look ahead to the release of more U.S. inflation data later in the week for clues on upcoming interest rate policy.\nBitcoin dipped 0.25% in the last 24 hours to US$25,831.97 as of 07:50 a.m. in Hong Kong. It lost 0.53% for the week, according toCoinMarketCapdata. The world’s leading cryptocurrency briefly traded above US$26,000 last Friday. But it soon lost that support level and remained range bound over the weekend at around US$25,900.\nEther, the Ethereum blockchain’s native token, fell 1.12% to US$1,616.79, and dropped 1.18% over the past seven days.\nEthereum founder Vitalik Buterin’s account on X, formerly Twitter, was hacked Sunday, leading tolossestotalling around US$691,000 for some of Buterin’s followers, according to blockchain investigator ZachXBT. Hackers posted links to a scam non-fungible token (NFT) project on Buterin’s Twitter page, advising users to connect their crypto wallets before withdrawing the funds.\nButerin’s father confirmed in atweetSunday that his son had been hacked and was restoring his X account. The alleged scam post has now been removed from the account. Buterin himself is yet to comment on the hack.\nAll other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. Solana led the losers, falling 6.17% to US$18.25 for a weekly loss of 6.80%.\nOn Sunday, a Wall Street Journalreportpredicted a September pause in the U.S. Federal Reserve’s interest rate hiking cycle. The report “probably had many investors re-thinking their valuations — not just for crypto but for risk assets in general,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\nThe market is also facing downward pressure from the latest FTX news. The collapsed cryptocurrency exchange is likely to receive approval on Sept.13 to start liquidating its crypto holdings, according to a tweet Saturday from blockchain analysts Whale Alert.\nAfterfiling for bankruptcyin November 2022, the exchange still holds anestimatedUS$3.4 billion worth of crypto assets. Part of the bankruptcyplanset up for the firm allows for the sale of up to US$100 million in crypto assets per week, which can be extended to US$200 million under certain circumstances.\nCrypto analysts suggest the news could weigh on the market after gains earlier in the summer. Blockchain research firm IntoTheBlocktweetedSunday that “despite positive news aboutVisaand a potentialspot ETH ETF, FTX’s impending US$3 billion liquidation could be dictating market movement.”\nThe selling pressure from FTX will cause altcoins to underperform Bitcoin throughout the remainder of the year, Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in a SundayLinkedIn post.\nThe potential selling of FTX’s crypto holdings could hit Solana particularly hard, according to Rachael Lucas, crypto technical analyst at Australia-based crypto exchange BTC Markets. The token “forms a substantial portion of these assets, with an estimated value of approximately $685 million. This impending event has heightened the sense of uncertainty among SOL investors.”\nMeanwhile, Bitcoin is on the verge of a “death cross” — where the token’s short-term, 50-day Simple Moving Average (SMA) moves below its long-term, 200-day SMA. That could signal a coming slide in Bitcoin prices, Lucas said.\nAs of 09:50 a.m. in Hong Kong, Bitcoin’s 50-day SMA sat at US$27,658.19, with a 200-day SMA of US$27,608.57. Following the previous Bitcoin death cross on Jan.14, 2022, the token’s price dropped over 10% within seven days.\n“The looming question that occupies the minds of market participants pertains to whether Bitcoin will chart a similar course in response to this bearish technical pattern or has the market already priced in this event?” Lucas said.\n“This uncertainty is exacerbated by the forthcoming release of U.S. inflation figures, with technical indicators currently signalling the potential for further downside,” she added.\nThe total crypto market capitalization dropped 0.74% in the past 24 hours to US$1.04 trillion. Trading volume rose 50.61% to US$20.25 billion.\nU.S. stock futures edged up as of 11:00 a.m. in Hong Kong. All three major U.S. indexes closed moderately higher on Friday but logged weekly losses. The Dow Jones Industrial Average led the winners on Friday with a 0.22% uptick, but ended the week 0.86% lower.\nThe main stock indexes in Asia were mixed on Monday morning. China’s Shanghai Composite and South Korea’s Kospi moved higher. Hong Kong’s Hang Seng dropped 1.38% while Japan’s Nikkei 225 also posted a 0.19% loss.\nThe U.S. consumer price index (CPI) for August will be released on Wednesday. Analystsexpectthe inflation gauge to rise 3.8% year-on-year, up from 3.2% in July, according to the Federal Reserve Bank of Cleveland last Friday.\nA recent rise inoil pricesand stronger-than-expectedgrowthin U.S. services recorded last week have fueled inflation concerns in the U.S.,Reutersreported Saturday.\n“My expectation is that the CPI print could come in higher than expected (with) the price of oil pushing higher,” Phil Blancato, chief executive officer of U.S.-based investment advisory firm Ladenburg Thalmann Asset Management, said in the report.\n“We have a problem where ultimately the Fed may be pushed into a corner, and while they might take a pause because of the lag effect, I don’t think they’re done,” said Blancato.\nThe CPI prediction of 3.8% is still higher than the Federal Reserve’s long-term goal of reducing the annual inflation rate below 2%. The Fed raised the interest rate in July to between 5.25% and 5.50%, the highest level since early 2001.\nThe U.S. CPI data on Wednesday is unlikely to affect Fed thinking ahead of its September meeting, Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz, tweeted on Monday. But it could influence future rate decisions, beginning November, he said.\nTheCME FedWatch Toolpredicts a 93% chance the central bank will maintain the current rate unchanged in September. It gives a 53.5% chance for another pause in November, down from 57.4% last Friday.\nMeanwhile, China’s CPI index posted a slim annual increase of 0.1% in August. The increase haseaseddeflationary pressure on Beijing slightly\n“Many data we’re seeing now shows that the economy’s slump may be slowing in the coming months,” Raymond Yeung, chief economist for Greater China at Australia & New Zealand Banking Group Ltd., toldBloomberg. Yeung also noted a slowdown in China’sexportslump in August. But he said the slowdowns should not be read as a sign of long-term recovery just yet.\n“It will be more of a stabilization instead of a complete rebound,” Yeung said.\n(Updates with equity section.)', 'There was red ink across the crypto market Monday morning in Asia as Bitcoin dipped below the resistance level of US$26,000. Ether also fell to near the US$16,000 mark after a hack on the X account of Ethereum founder Vitalik Buterin. Other top 10 non-stablecoin cryptocurrencies logged losses. Solana’s SOL led the losers with a 24-hour slide of over 6%. Bankrupt crypto exchange FTX could soon get the greenlight to liquidate its US$3.4 billion in crypto holdings, adding to selling pressure in the market. U.S. stock futures traded higher after Wall Street logged weekly losses Friday. Investors now look ahead to the release of more U.S. inflation data later in the week for clues on upcoming interest rate policy. Latest FTX news depresses crypto market Bitcoin dipped 0.25% in the last 24 hours to US$25,831.97 as of 07:50 a.m. in Hong Kong. It lost 0.53% for the week, according to CoinMarketCap data. The world’s leading cryptocurrency briefly traded above US$26,000 last Friday. But it soon lost that support level and remained range bound over the weekend at around US$25,900. Ether, the Ethereum blockchain’s native token, fell 1.12% to US$1,616.79, and dropped 1.18% over the past seven days. Ethereum founder Vitalik Buterin’s account on X, formerly Twitter, was hacked Sunday, leading to losses totalling around US$691,000 for some of Buterin’s followers, according to blockchain investigator ZachXBT. Hackers posted links to a scam non-fungible token (NFT) project on Buterin’s Twitter page, advising users to connect their crypto wallets before withdrawing the funds. Buterin’s father confirmed in a tweet Sunday that his son had been hacked and was restoring his X account. The alleged scam post has now been removed from the account. Buterin himself is yet to comment on the hack. All other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. Solana led the losers, falling 6.17% to US$18.25 for a weekly loss of 6.80%. On Sunday, a Wall Street Journal report predicted a September pause in the U.S. Federal Reserve’s interest rate hiking cycle. The report “probably had many investors re-thinking their valuations — not just for crypto but for risk assets in general,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. The market is also facing downward pressure from the latest FTX news. The collapsed cryptocurrency exchange is likely to receive approval on Sept.13 to start liquidating its crypto holdings, according to a tweet Saturday from blockchain analysts Whale Alert. Story continues 🚨POTENTIALLY BIG SELLING NEXT WEEK Crypto exchange FTX will likely get approval to liquidate its assets 13th of September. They had $3.4b worth of crypto in April. Current proposed plan is to sell up to $200m worth of crypto every week. — Whale (@WhaleChart) September 9, 2023 After filing for bankruptcy in November 2022, the exchange still holds an estimated US$3.4 billion worth of crypto assets. Part of the bankruptcy plan set up for the firm allows for the sale of up to US$100 million in crypto assets per week, which can be extended to US$200 million under certain circumstances. Crypto analysts suggest the news could weigh on the market after gains earlier in the summer. Blockchain research firm IntoTheBlock tweeted Sunday that “despite positive news about Visa and a potential spot ETH ETF , FTX’s impending US$3 billion liquidation could be dictating market movement.” The selling pressure from FTX will cause altcoins to underperform Bitcoin throughout the remainder of the year, Markus Thielen, head of research & strategy at digital asset service platform Matrixport, said in a Sunday LinkedIn post . The potential selling of FTX’s crypto holdings could hit Solana particularly hard, according to Rachael Lucas, crypto technical analyst at Australia-based crypto exchange BTC Markets. The token “forms a substantial portion of these assets, with an estimated value of approximately $685 million. This impending event has heightened the sense of uncertainty among SOL investors.” Meanwhile, Bitcoin is on the verge of a “death cross” — where the token’s short-term, 50-day Simple Moving Average (SMA) moves below its long-term, 200-day SMA. That could signal a coming slide in Bitcoin prices, Lucas said. As of 09:50 a.m. in Hong Kong, Bitcoin’s 50-day SMA sat at US$27,658.19, with a 200-day SMA of US$27,608.57. Following the previous Bitcoin death cross on Jan.14, 2022, the token’s price dropped over 10% within seven days. “The looming question that occupies the minds of market participants pertains to whether Bitcoin will chart a similar course in response to this bearish technical pattern or has the market already priced in this event?” Lucas said. “This uncertainty is exacerbated by the forthcoming release of U.S. inflation figures, with technical indicators currently signalling the potential for further downside,” she added. The total crypto market capitalization dropped 0.74% in the past 24 hours to US$1.04 trillion. Trading volume rose 50.61% to US$20.25 billion. Investors await key US inflation data as China slump slows Image: Getty Images U.S. stock futures edged up as of 11:00 a.m. in Hong Kong. All three major U.S. indexes closed moderately higher on Friday but logged weekly losses. The Dow Jones Industrial Average led the winners on Friday with a 0.22% uptick, but ended the week 0.86% lower. The main stock indexes in Asia were mixed on Monday morning. China’s Shanghai Composite and South Korea’s Kospi moved higher. Hong Kong’s Hang Seng dropped 1.38% while Japan’s Nikkei 225 also posted a 0.19% loss. The U.S. consumer price index (CPI) for August will be released on Wednesday. Analysts expect the inflation gauge to rise 3.8% year-on-year, up from 3.2% in July, according to the Federal Reserve Bank of Cleveland last Friday. A recent rise in oil prices and stronger-than-expected growth in U.S. services recorded last week have fueled inflation concerns in the U.S., Reuters reported Saturday. “My expectation is that the CPI print could come in higher than expected (with) the price of oil pushing higher,” Phil Blancato, chief executive officer of U.S.-based investment advisory firm Ladenburg Thalmann Asset Management, said in the report. “We have a problem where ultimately the Fed may be pushed into a corner, and while they might take a pause because of the lag effect, I don’t think they’re done,” said Blancato. The CPI prediction of 3.8% is still higher than the Federal Reserve’s long-term goal of reducing the annual inflation rate below 2%. The Fed raised the interest rate in July to between 5.25% and 5.50%, the highest level since early 2001. The U.S. CPI data on Wednesday is unlikely to affect Fed thinking ahead of its September meeting, Mohamed A. El-Erian, an adviser to Germany-based financial services firm Allianz, tweeted on Monday. But it could influence future rate decisions, beginning November, he said. Two items lead the week ahead for the global #economy and #markets : An @ECB meeting where I put the probability of a 25 basis point hike at 55% (yes, it’s that close); and The US CPI #inflation print which is unlikely to alter in any significant way the high expectation that… — Mohamed A. El-Erian (@elerianm) September 10, 2023 The CME FedWatch Tool predicts a 93% chance the central bank will maintain the current rate unchanged in September. It gives a 53.5% chance for another pause in November, down from 57.4% last Friday. Meanwhile, China’s CPI index posted a slim annual increase of 0.1% in August. The increase has eased deflationary pressure on Beijing slightly “Many data we’re seeing now shows that the economy’s slump may be slowing in the coming months,” Raymond Yeung, chief economist for Greater China at Australia & New Zealand Banking Group Ltd., told Bloomberg . Yeung also noted a slowdown in China’s export slump in August. But he said the slowdowns should not be read as a sign of long-term recovery just yet. “It will be more of a stabilization instead of a complete rebound,” Yeung said. (Updates with equity section.) View comments', 'Luxembourg --News Direct-- Bitgamo S.A. After a long wait, it is finally possible now to sell crypto without KYC. This groundbreaking development has been made possible by Bitgamo , a crypto to fiat exchange that also guarantees up to 10% higher exchange rate for Bitcoin, Litecoin, and Ethereum compared to any other exchange. Decentralization has been one of the cornerstones of the crypto industry since its inception. However, before Bitgamo , no other exchange managed to ensure anonymity of the users during crypto to fiat transactions. Bitgamo is based out of Luxemburg, a country that treats cryptocurrencies as an asset class. This is why the company is not legally bound to seek KYC details from its customers. Moreover, Bitgamo is a strong proponent of protecting the privacy of its customers. Selling crypto on this platform doesn’t require providing sensitive personal information such as passport, proof of fund, or other sensitive details. To prevent misuse of customer information, the company doesn’t use any email marketing services, marketing automation platforms, customer service software, or third-party web analytics. In addition to eliminating the need for KYC, Bitgamo has also hit the headlines by offering up to 10% higher crypto to fiat exchange rates compared to the prevalent market price. This is possible because of the company’s innovative strategy of employing a network of third-parties to redistribute cryptocurrencies to the Middle East and other countries where unfavorable policies make it difficult for people to obtain or invest in crypto. Carrying out transactions on Bitgamo is a simple process that is similar to sending a transaction from a wallet. Many users have mentioned that the entire process takes only around 20 minutes to complete. In case of any issues, users can seek help immediately from the company’s 24/7 live support team. Most importantly, the platform can be used from any country around the world, regardless of its crypto policies. To find out more about Bitgamo, please visit https://bitgamo.com/ About Bitgamo: Bitgamo is a cryptocurrency exchange founded in 2020 by a noted financial group with the vision to introduce the benefits of crypto in countries where it is difficult to buy or own cryptocurrencies while addressing privacy related concerns. By redistributing cryptocurrencies through multiple third-parties, Bitgamo offers up to 10% higher price compared to market price. Contact Details Gabriel Weber [email protected] View source version on newsdirect.com: https://newsdirect.com/news/selling-crypto-without-kyc-is-now-possible-through-bitgamo-485607121 View comments', 'Luxembourg --News Direct-- Bitgamo S.A. After a long wait, it is finally possible now to sell crypto without KYC. This groundbreaking development has been made possible by Bitgamo , a crypto to fiat exchange that also guarantees up to 10% higher exchange rate for Bitcoin, Litecoin, and Ethereum compared to any other exchange. Decentralization has been one of the cornerstones of the crypto industry since its inception. However, before Bitgamo , no other exchange managed to ensure anonymity of the users during crypto to fiat transactions. Bitgamo is based out of Luxemburg, a country that treats cryptocurrencies as an asset class. This is why the company is not legally bound to seek KYC details from its customers. Moreover, Bitgamo is a strong proponent of protecting the privacy of its customers. Selling crypto on this platform doesn’t require providing sensitive personal information such as passport, proof of fund, or other sensitive details. To prevent misuse of customer information, the company doesn’t use any email marketing services, marketing automation platforms, customer service software, or third-party web analytics. In addition to eliminating the need for KYC, Bitgamo has also hit the headlines by offering up to 10% higher crypto to fiat exchange rates compared to the prevalent market price. This is possible because of the company’s innovative strategy of employing a network of third-parties to redistribute cryptocurrencies to the Middle East and other countries where unfavorable policies make it difficult for people to obtain or invest in crypto. Carrying out transactions on Bitgamo is a simple process that is similar to sending a transaction from a wallet. Many users have mentioned that the entire process takes only around 20 minutes to complete. In case of any issues, users can seek help immediately from the company’s 24/7 live support team. Most importantly, the platform can be used from any country around the world, regardless of its crypto policies. To find out more about Bitgamo, please visit https://bitgamo.com/ About Bitgamo: Bitgamo is a cryptocurrency exchange founded in 2020 by a noted financial group with the vision to introduce the benefits of crypto in countries where it is difficult to buy or own cryptocurrencies while addressing privacy related concerns. By redistributing cryptocurrencies through multiple third-parties, Bitgamo offers up to 10% higher price compared to market price. Contact Details Gabriel Weber [email protected] View source version on newsdirect.com: https://newsdirect.com/news/selling-crypto-without-kyc-is-now-possible-through-bitgamo-485607121 View comments', 'Bitcoin was trading below US$26,000 on Monday afternoon in Asia, while Ether and all other top 10 non-stablecoin cryptocurrencies posted losses. The market is also under pressure after news that the collapsed FTX crypto exchange may soon liquidate its US$3.4 billion in crypto holdings.\xa0Asian equities traded mixed. U.S. futures gained ahead of crucial inflation data release while European bourses gained ahead of the central bank policy meeting later this week.\nSee related article:FTX sues LayerZero Labs to recover US$21 million\nBitcoin dropped 0.15% to US$25,811 in 24 hours to 4 p.m. in Hong Kong, bringing its weekly losses to 0.56%, according to CoinMarketCapdata.\n“Currently, Bitcoin’s price is trading without a clear direction amidst cautious market sentiment. Bitcoin, which leads the entire crypto market, will be influenced by various technical factors in the absence of news and legal decisions related to the cryptocurrency market in the coming week,” Rania Gule, market analyst at multi-asset brokerage firm XS.com toldForkast.\n“I believe that the crucial support level of US$24,995 will determine whether Bitcoin’s price goes up or down. A clear and strong break below this level would send Bitcoin toward the very important support level at US$24,000, which would indicate a clear bearish trend reversal. In the worst-case scenario, the selling momentum in this case could push the price down to around US$21,915, which is roughly the mid-March level,” Gule said.\nEther, the Ethereum blockchain’s native token, fell 0.78% to US$1,611 in the last 24 hours, and dropped 1.63% in the last seven days.\nEthereum founder Vitalik Buterin’s account on X, formerly Twitter, was hacked on Sunday, resulting inlossesfor some of Buterin’s followers, according to blockchain investigator ZachXBT. Hackers posted links to a scam non-fungible token (NFT) project on Buterin’s Twitter page, advising users to connect their crypto wallets before withdrawing the funds.\n“Ethereum price indicators continue to show signals of the ongoing bearish trend, supported by a breach of the trendline that took the price below the critical support level of US$1,687. This paves the way for a potential 27% drop in ETH price. I believe the price could reach a significant level of US$1,200, with intermediate support at US$1,366,” Gule of XS.com pointed out.\nThe crypto market is also facing downward pressure from the latest FTX news. The collapsed cryptocurrency exchange is likely to receive approval on Sept. 13 to start liquidating its crypto holdings, according to atweetfrom blockchain analysts Whale Alert. Afterfiling for bankruptcyin November last year, the exchange still holds anestimatedUS$3.4 billion worth of crypto assets.\nJohn Stefanidis, chief executive of blockchain infrastructure foundation Balthazar DAO, said, “The recent dip in value of altcoins could be attributed to the anticipated authorisation of the liquidation of assets held by FTX. With a portfolio encompassing billions in cryptocurrency assets, a potential liquidation could significantly influence market values, notably affecting Solana, Aptos, Dogecoin, Matic, TON, and XRP.”\nToncoin was the biggest loser, declining 3.38% to US$1.70 in the past 24 hours, and losing 9.96% in the past seven days.\nRipple’s XRP was the second biggest loser, dropping 2.91% to US$0.4857 on the day and 3.54% on the week. The U.S. Securities and Exchange Commission (SEC) submitted a filing last Friday to push the court of the Southern District of New York to appeal its ruling on the agency’s lawsuit against Ripple Labs. The SEC requested the court to review its prior ruling by Judge Analisa Torres that posed “knotty legal problems,” according to thefiling. In July, a summary judgment by Judge Torresruledthat Ripple’s XRP sales to institutional investors violated securities laws, but sales on public exchanges to retail investors did not.\nRipple Labs alsoannouncedthat it will acquire Nevada-based crypto infrastructure startup Fortress Trust, giving Ripple a regulatory license in the state of Nevada.\nElsewhere, the Group of 20 (G20) meeting underIndia’s presidency, said during the weekend that member countries will work together to develop a coordinated global regulatory framework for cryptocurrencies, cross-border cooperation and information sharing.\n“Crypto assets and how regulation can be put in place – we contributed to a roadmap so [that] over the next month progress can be made in that area,” Kristalina Georgieva, managing director of International Monetary Fundsaidat the conclusion of G20 leaders summit in India’s capital New Delhi on Sunday.\nHowever, one of the key challenges facing the cryptocurrency industry globally is the delay in implementing these recommendations at a national level, according toCaroline Bowler, chief executive of Australian digital asset exchange BTC Markets.\n“While international organizations are setting the framework for a harmonized regulatory environment, it is imperative that governments and regulatory authorities act promptly to translate these guidelines into actionable regulations. Delayed implementation could hinder the industry’s growth, create uncertainty, and potentially leave investors and consumers exposed to risks,” Bowler said in an emailed statement on Monday.\nTotal crypto market capitalization dropped 0.54% to US$1.03 trillion, while market volume gained 36.82% to US$20.63 billion.\nThe indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.\nTheForkast 500 NFTindex fell 0.85% to 2,119 in 24 hours to 7 p.m. in Hong Kong, dropping 3.53% on the week, with Forkast’s Ethereum, Solana and Polygon indexes also declining.\nTotal NFT sales volume dropped 4.08% to US$8,757,370 in the past 24 hours, according to CryptoSlamdata. NFT transactions dropped over 10% at the same time.\n“As we head into the slowest months of the year one has to wonder how low we can really go, and if we can fall to Feb. 2021 levels where we saw US$35-50 million in sales,” said Yehudah Petscher, NFT strategist at Forkast Labs.\nAmong blockchains, Ethereum topped the rankings by sales volume, which rose 2.67% to\xa0US$4.7 million. Mythos and Polygon networks ranked second and third respectively.\nAmong collections, Mythos-based DMarket topped rankings although its sales volume fell 7.76% to US$1,012,238 in the past 24 hours.\n“Football NFTs were hot with the kickoff of the NFL season. Both DraftKings with their fantasy football NFTs and NFL All Day with their pure collectibles saw millions in sales over the past seven days,” Petscher said.\nSales of Polygon-based DraftKings gained 45.96% to US$579,756, ranking it the third biggest collection by sales volume.\nMajor Asian stock markets traded mixed on Monday as investors await the latest U.S. inflation data due for release later this week. China’sShanghai CompositeandShenzhen Component Index, as well as South Korea’sKospigained. Japan’sNikkei 225and Hong Kong’sHang Sengindex dropped at the end of trading hours.\nThe U.S. consumer price index (CPI) for August will be released on Wednesday. Analystsexpectthe inflation gauge to rise 3.8% year-on-year, up from 3.2% in July, according to the Federal Reserve Bank of Cleveland.\nA recent rise inoil pricesand stronger-than-expectedgrowthin U.S. services recorded last week have fueled inflation concerns in the U.S.,Reutersreported.\nThe CPI prediction of 3.8% is still higher than the Federal Reserve’s long-term goal of bringing the annual inflation below 2%. The Fed last raised the interest rate in July to between 5.25% and 5.5%, the highest since early 2001.\nU.S. stock futures strengthened as of 8 p.m. in Hong Kong on Monday. The Dow Jones Industrial Average futures, the S&P 500 futures, and the Nasdaq 100 Futures were all in the green.\nIndia’s benchmark indexSensexrose 0.79% at the close of trading hours on Monday.\nEuropean bourses – the benchmark STOXX 600 and Germany’s DAX 40 – gained on Monday. Investors are looking forward to the European Central Bank’s (ECB’s) policy meeting outcome on Thursday, which is expected to indicate whether the central bank will increase interest rates further. ECB policymakers are divided over raising rates again, amid slowing economic activity and persistent inflation that remains above the 2% target.\n“If you cannot get yourself to hike in September, the case will not be stronger in October as economic data will likely worsen, and inflation in September will come lower quite a bit,” said UBS chief European economist Reinhard Cluse, who expects a 25 basis-point increase, according to a Reutersreport.\n(updates with equities section.)', 'Bitcoin was trading below US$26,000 on Monday afternoon in Asia, while Ether and all other top 10 non-stablecoin cryptocurrencies posted losses. The market is also under pressure after news that the collapsed FTX crypto exchange may soon liquidate its US$3.4 billion in crypto holdings.\xa0Asian equities traded mixed. U.S. futures gained ahead of crucial inflation data release while European bourses gained ahead of the central bank policy meeting later this week. See related article: FTX sues LayerZero Labs to recover US$21 million All top 10 cryptos drop Bitcoin dropped 0.15% to US$25,811 in 24 hours to 4 p.m. in Hong Kong, bringing its weekly losses to 0.56%, according to CoinMarketCap data . “Currently, Bitcoin’s price is trading without a clear direction amidst cautious market sentiment. Bitcoin, which leads the entire crypto market, will be influenced by various technical factors in the absence of news and legal decisions related to the cryptocurrency market in the coming week,” Rania Gule, market analyst at multi-asset brokerage firm XS.com told Forkast . “I believe that the crucial support level of US$24,995 will determine whether Bitcoin’s price goes up or down. A clear and strong break below this level would send Bitcoin toward the very important support level at US$24,000, which would indicate a clear bearish trend reversal. In the worst-case scenario, the selling momentum in this case could push the price down to around US$21,915, which is roughly the mid-March level,” Gule said. Ether, the Ethereum blockchain’s native token, fell 0.78% to US$1,611 in the last 24 hours, and dropped 1.63% in the last seven days. Ethereum founder Vitalik Buterin’s account on X, formerly Twitter, was hacked on Sunday, resulting in losses for some of Buterin’s followers, according to blockchain investigator ZachXBT. Hackers posted links to a scam non-fungible token (NFT) project on Buterin’s Twitter page, advising users to connect their crypto wallets before withdrawing the funds. Story continues “Ethereum price indicators continue to show signals of the ongoing bearish trend, supported by a breach of the trendline that took the price below the critical support level of US$1,687. This paves the way for a potential 27% drop in ETH price. I believe the price could reach a significant level of US$1,200, with intermediate support at US$1,366,” Gule of XS.com pointed out. The crypto market is also facing downward pressure from the latest FTX news. The collapsed cryptocurrency exchange is likely to receive approval on Sept. 13 to start liquidating its crypto holdings, according to a tweet from blockchain analysts Whale Alert. After filing for bankruptcy in November last year, the exchange still holds an estimated US$3.4 billion worth of crypto assets. John Stefanidis, chief executive of blockchain infrastructure foundation Balthazar DAO, said, “The recent dip in value of altcoins could be attributed to the anticipated authorisation of the liquidation of assets held by FTX. With a portfolio encompassing billions in cryptocurrency assets, a potential liquidation could significantly influence market values, notably affecting Solana, Aptos, Dogecoin, Matic, TON, and XRP.” Toncoin was the biggest loser, declining 3.38% to US$1.70 in the past 24 hours, and losing 9.96% in the past seven days. Ripple’s XRP was the second biggest loser, dropping 2.91% to US$0.4857 on the day and 3.54% on the week. The U.S. Securities and Exchange Commission (SEC) submitted a filing last Friday to push the court of the Southern District of New York to appeal its ruling on the agency’s lawsuit against Ripple Labs. The SEC requested the court to review its prior ruling by Judge Analisa Torres that posed “knotty legal problems,” according to the filing . In July, a summary judgment by Judge Torres ruled that Ripple’s XRP sales to institutional investors violated securities laws, but sales on public exchanges to retail investors did not. Ripple Labs also announced that it will acquire Nevada-based crypto infrastructure startup Fortress Trust, giving Ripple a regulatory license in the state of Nevada. Elsewhere, the Group of 20 (G20) meeting under India’s presidency , said during the weekend that member countries will work together to develop a coordinated global regulatory framework for cryptocurrencies, cross-border cooperation and information sharing. “Crypto assets and how regulation can be put in place – we contributed to a roadmap so [that] over the next month progress can be made in that area,” Kristalina Georgieva, managing director of International Monetary Fund said at the conclusion of G20 leaders summit in India’s capital New Delhi on Sunday. Congratulations to India on a successful #G20 presidency. Its theme of "one earth, one family, one future" resonated with global leaders, who reached an important consensus on ways to address the global challenges confronting us. My takeaways from 🇮🇳\'s successful @g20org summit. — Kristalina Georgieva (@KGeorgieva) September 10, 2023 However, one of the key challenges facing the cryptocurrency industry globally is the delay in implementing these recommendations at a national level, according to Caroline Bowler , chief executive of Australian digital asset exchange BTC Markets. “While international organizations are setting the framework for a harmonized regulatory environment, it is imperative that governments and regulatory authorities act promptly to translate these guidelines into actionable regulations. Delayed implementation could hinder the industry’s growth, create uncertainty, and potentially leave investors and consumers exposed to risks,” Bowler said in an emailed statement on Monday. Total crypto market capitalization dropped 0.54% to US$1.03 trillion, while market volume gained 36.82% to US$20.63 billion. Total NFT sales volume, transactions drop The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index fell 0.85% to 2,119 in 24 hours to 7 p.m. in Hong Kong, dropping 3.53% on the week, with Forkast’s Ethereum, Solana and Polygon indexes also declining. Total NFT sales volume dropped 4.08% to US$8,757,370 in the past 24 hours, according to CryptoSlam data . NFT transactions dropped over 10% at the same time. “As we head into the slowest months of the year one has to wonder how low we can really go, and if we can fall to Feb. 2021 levels where we saw US$35-50 million in sales,” said Yehudah Petscher, NFT strategist at Forkast Labs. Among blockchains, Ethereum topped the rankings by sales volume, which rose 2.67% to\xa0US$4.7 million. Mythos and Polygon networks ranked second and third respectively. Among collections, Mythos-based DMarket topped rankings although its sales volume fell 7.76% to US$1,012,238 in the past 24 hours. “Football NFTs were hot with the kickoff of the NFL season. Both DraftKings with their fantasy football NFTs and NFL All Day with their pure collectibles saw millions in sales over the past seven days,” Petscher said. Sales of Polygon-based DraftKings gained 45.96% to US$579,756, ranking it the third biggest collection by sales volume. Asian equities mixed; U.S. futures, European bourses gain U.S. President Joe Biden in Vietnam on Sept. 11. Investors are looking forward to latest U.S. inflation data due for release later this week. Image: President Biden/Twitter Major Asian stock markets traded mixed on Monday as investors await the latest U.S. inflation data due for release later this week. China’s Shanghai Composite and Shenzhen Component Index , as well as South Korea’s Kospi gained. Japan’s Nikkei 225 and Hong Kong’s Hang Seng index dropped at the end of trading hours. The U.S. consumer price index (CPI) for August will be released on Wednesday. Analysts expect the inflation gauge to rise 3.8% year-on-year, up from 3.2% in July, according to the Federal Reserve Bank of Cleveland. A recent rise in oil prices and stronger-than-expected growth in U.S. services recorded last week have fueled inflation concerns in the U.S., Reuters reported. The CPI prediction of 3.8% is still higher than the Federal Reserve’s long-term goal of bringing the annual inflation below 2%. The Fed last raised the interest rate in July to between 5.25% and 5.5%, the highest since early 2001. U.S. stock futures strengthened as of 8 p.m. in Hong Kong on Monday. The Dow Jones Industrial Average futures, the S&P 500 futures, and the Nasdaq 100 Futures were all in the green. India’s benchmark index Sensex rose 0.79% at the close of trading hours on Monday. European bourses – the benchmark STOXX 600 and Germany’s DAX 40 – gained on Monday. Investors are looking forward to the European Central Bank’s (ECB’s) policy meeting outcome on Thursday, which is expected to indicate whether the central bank will increase interest rates further. ECB policymakers are divided over raising rates again, amid slowing economic activity and persistent inflation that remains above the 2% target. “If you cannot get yourself to hike in September, the case will not be stronger in October as economic data will likely worsen, and inflation in September will come lower quite a bit,” said UBS chief European economist Reinhard Cluse, who expects a 25 basis-point increase, according to a Reuters report . ( updates with equities section .)', 'Bitcoin was trading below US$26,000 on Monday afternoon in Asia, while Ether and all other top 10 non-stablecoin cryptocurrencies posted losses. The market is also under pressure after news that the collapsed FTX crypto exchange may soon liquidate its US$3.4 billion in crypto holdings.\xa0Asian equities traded mixed. U.S. futures gained ahead of crucial inflation data release while European bourses gained ahead of the central bank policy meeting later this week.\nSee related article:FTX sues LayerZero Labs to recover US$21 million\nBitcoin dropped 0.15% to US$25,811 in 24 hours to 4 p.m. in Hong Kong, bringing its weekly losses to 0.56%, according to CoinMarketCapdata.\n“Currently, Bitcoin’s price is trading without a clear direction amidst cautious market sentiment. Bitcoin, which leads the entire crypto market, will be influenced by various technical factors in the absence of news and legal decisions related to the cryptocurrency market in the coming week,” Rania Gule, market analyst at multi-asset brokerage firm XS.com toldForkast.\n“I believe that the crucial support level of US$24,995 will determine whether Bitcoin’s price goes up or down. A clear and strong break below this level would send Bitcoin toward the very important support level at US$24,000, which would indicate a clear bearish trend reversal. In the worst-case scenario, the selling momentum in this case could push the price down to around US$21,915, which is roughly the mid-March level,” Gule said.\nEther, the Ethereum blockchain’s native token, fell 0.78% to US$1,611 in the last 24 hours, and dropped 1.63% in the last seven days.\nEthereum founder Vitalik Buterin’s account on X, formerly Twitter, was hacked on Sunday, resulting inlossesfor some of Buterin’s followers, according to blockchain investigator ZachXBT. Hackers posted links to a scam non-fungible token (NFT) project on Buterin’s Twitter page, advising users to connect their crypto wallets before withdrawing the funds.\n“Ethereum price indicators continue to show signals of the ongoing bearish trend, supported by a breach of the trendline that took the price below the critical support level of US$1,687. This paves the way for a potential 27% drop in ETH price. I believe the price could reach a significant level of US$1,200, with intermediate support at US$1,366,” Gule of XS.com pointed out.\nThe crypto market is also facing downward pressure from the latest FTX news. The collapsed cryptocurrency exchange is likely to receive approval on Sept. 13 to start liquidating its crypto holdings, according to atweetfrom blockchain analysts Whale Alert. Afterfiling for bankruptcyin November last year, the exchange still holds anestimatedUS$3.4 billion worth of crypto assets.\nJohn Stefanidis, chief executive of blockchain infrastructure foundation Balthazar DAO, said, “The recent dip in value of altcoins could be attributed to the anticipated authorisation of the liquidation of assets held by FTX. With a portfolio encompassing billions in cryptocurrency assets, a potential liquidation could significantly influence market values, notably affecting Solana, Aptos, Dogecoin, Matic, TON, and XRP.”\nToncoin was the biggest loser, declining 3.38% to US$1.70 in the past 24 hours, and losing 9.96% in the past seven days.\nRipple’s XRP was the second biggest loser, dropping 2.91% to US$0.4857 on the day and 3.54% on the week. The U.S. Securities and Exchange Commission (SEC) submitted a filing last Friday to push the court of the Southern District of New York to appeal its ruling on the agency’s lawsuit
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-11
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $504,547,425,800
- Hash Rate: 427999090.2494795
- Transaction Count: 459132.0
- Unique Addresses: 719793.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.40
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: AI tokens, such as fetch.ai, gained on Thursday. Photo: Getty (Dennis Diatel) AI-related tokens gained after Nvidia ( NVDA ) posted earnings that topped estimations on Wednesday. After the chip-maker's second quarter report artificial intelligence tokens, such as Fetch.ai ( FET-USD ), The Graph ( GRT6719-USD ), Injective ( INJ-USD ), Render ( RNDR-USD ) and SingularityNET ( AGIX-USD ) all gained. The price action suggests investors see potential in the intersection between crypto and AI. Read more: Crypto live prices Nvidia shares climbed over 6% in extended trading on Wednesday after the chipmaker beat already high expectations with revenue of $13.51bn (£10.64bn), a 101% jump from last year. AI tokens are cryptocurrencies associated with blockchain-based AI projects. For example, Fetch.ai is dedicated to building infrastructure for smart, autonomous services, or "AI-agents" in supply chain, finance and travel. SingularityNET is a decentralised, blockchain-based platform aimed at creating a marketplace for various types of artificial intelligence services. Stock markets and crypto gain ground Global stocks rallied after Nvidia's results, suggesting the market could be contemplating a sustained generative AI boom. In Europe, the Stoxx 600 ( ^STOXX ) increased by 0.7% in early morning trading. The UK's FTSE 100 ( ^FTSE ) also rose by 0.47%. France's CAC 40 ( ^FCHI ) gained 0.94%, while Spain's IBEX 35 ( ^IBEX ) climbed 0.8%, and Germany's DAX ( ^GDAXI ) saw a 0.85% increase. Read more: LIVE: FTSE and European markets follow Asia higher as Nvidia earnings bolster sentiment The gains in traditional markets were mirrored by moves higher in the cryptocurrency sector. Bitcoin ( BTC-USD ) increased 3% to surpass $26,600, marking its weekly high, before falling back to $26,433, according to CoinGecko . Ether ( ETH-USD ) increased by 3.5%, nearing the $1,700 mark. Solana ( SOL-USD ) increased over 4% after Shopify ( SHOP ) integrated Solana Pay for USDC payments. NEAR ( NEAR-USD ) token gained after Nexo added the Near Protocol to its platform, and altcoin ADA ( ADA-USD ) posted over 3% in daily gains. Story continues Watch: Could China shut-down the Bitcoin network? | The Crypto Mile Download the Yahoo Finance app, available for Apple and Android ....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin fell on Tuesday morning in Asia to hover above US$25,000 after briefly losing the key support level for the first time in the past almost three months. Ether also slid to lose control of the US$1,600 support level. All other top 10 non-stablecoin cryptocurrencies also booked losses, with XRP leading the losers with a 24-hour drop of more than 5%. The drop came ahead of a potential FTX liquidation that could see the collapsed crypto exchange sell its US$3.4 billion worth of crypto assets by the end of the year. U.S. stock futures edged lower, after Wall Street logged daily gains on Monday, as investors await key U.S. inflation data this week.\nBitcoin dropped 2.72% in the last 24 hours to US$25,115.32 as of 07:30 a.m. in Hong Kong, down 2.57% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency dipped to its lowest price since June 15, touching US$24,930.30 on Tuesday morning.\nEther saw a bigger loss, dropping 4.31% to US$1,547.18 and lost 4.79% in past week, reaching US$1,533.43 on Tuesday, its lowest in six months.\nAll other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. XRP led the losers, falling 5.17% to US$0.4727 for a weekly loss of 6.92%.\n“The continued decline in altcoin values seems to be linked to the looming approval of FTX’s asset liquidation, a move that could impact the market values of many top cryptocurrencies including XRP, which FTX holds a substantial amount,” said John Stefanidis, chief executive officer of blockchain infrastructure foundation Balthazar DAO.\nFTX crypto exchange, which went intobankruptcyin November 2022, is likely to receive court approval on Wednesday to liquidate an estimated crypto holding of US$3.4 billion. The firmproposedto sell up to US$100 million in crypto assets per week, which could be extended to US$200 million.\nThe incoming FTX liquidation indicates the crypto market could “see another US$3.4 billion in crypto-to-fiat off-ramping — a potential liquidity gap that might be hard to fill in the absence of Signature Bank, Silicon Valley Bank, and Silvergate Bank, which were responsible for at least, 50% of all the fiat-to-crypto on-ramping during the last few years,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said in an emailed report.\nThe event could hit altcoins extra hard, said Thielen, due to “unfavourable tokenomics that compel early investors in projects (founders, Venture Capital investors, etc.) to make prudent financial and survival decisions, and liquidate positions.”\nMeanwhile, digital asset investment products saw an outflow of US$59 million in the week ending Sept. 8, marking the fourth consecutive month in a run of outflows that totaled US$294 million, according to a Monday report by European alternative asset managerCoinShares.\nCoinshares also highlighted net inflows in short investment products, suggesting “sentiment remains poor for the asset class,” and attributed the grim mood to “continued worries over regulation of the asset class and recent dollar strength.”\nThe total crypto market capitalization dropped 2.88% in the past 24 hours to US$1.01 trillion as trading volume surged 60.28% to US$32.35 billion.\nU.S. stock futures edged lower as of 09:10 a.m. in Hong Kong. All three major U.S. indexes logged gains in regular trading Monday, with Nasdaq leading with a 1.14% increase.\nThe main stock indexes in Asia were mixed as of 09:30 a.m. in Hong Kong. China’s Shanghai Composite, Hong Kong’s Hang Sheng and South Korea’s Kospi moved lower, while Japan’s Nikkei 225 edged up.\nTesla spearheaded the stock market rally on Monday after Morgan Stanleyupgradedthe electric car maker’s stock from “equal-weight” to “overweight”, saying the firm’s Dojo supercomputer could add over US$500 billion to its market value. Tesla’s share price surged over 10% on Monday, followed by other technology giants including Amazon (+3.52%) and Microsoft (1.10%).\nOn the inflation front, the U.S. consumer price index (CPI) for August will be released on Wednesday. Federal Reserve Bank of Clevelandexpectsthe inflation gauge to rise 3.8% year-on-year, up from 3.2% in July.\nThe inflation gauge will provide further insights into the Federal Reserve’s future monetary policies, which aims to curb the annual inflation rate below 2% and in July raised the interest rates to the range between 5.25% and 5.50% — the highest level in the past 22 years.\n“This week is more likely to be a ‘good news is good, bad news is bad’ story,” Chris Larkin, managing director of trading and investing at E*Trade from Morgan Stanley, toldBloombergon Tuesay. “The market’s ability to rebound in the near term could hinge on this week’s inflation numbers, especially Wednesday’s CPI.”\nTheCME FedWatch Toolpredicts a 93% chance the central bank will maintain the current rate unchanged in September. It gives a 57.6% chance for another pause in November, up from 53.5% on Monday.\n(Updates with equity section.)', 'Bitcoin fell on Tuesday morning in Asia to hover above US$25,000 after briefly losing the key support level for the first time in the past almost three months. Ether also slid to lose control of the US$1,600 support level. All other top 10 non-stablecoin cryptocurrencies also booked losses, with XRP leading the losers with a 24-hour drop of more than 5%. The drop came ahead of a potential FTX liquidation that could see the collapsed crypto exchange sell its US$3.4 billion worth of crypto assets by the end of the year. U.S. stock futures edged lower, after Wall Street logged daily gains on Monday, as investors await key U.S. inflation data this week.\nBitcoin dropped 2.72% in the last 24 hours to US$25,115.32 as of 07:30 a.m. in Hong Kong, down 2.57% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency dipped to its lowest price since June 15, touching US$24,930.30 on Tuesday morning.\nEther saw a bigger loss, dropping 4.31% to US$1,547.18 and lost 4.79% in past week, reaching US$1,533.43 on Tuesday, its lowest in six months.\nAll other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. XRP led the losers, falling 5.17% to US$0.4727 for a weekly loss of 6.92%.\n“The continued decline in altcoin values seems to be linked to the looming approval of FTX’s asset liquidation, a move that could impact the market values of many top cryptocurrencies including XRP, which FTX holds a substantial amount,” said John Stefanidis, chief executive officer of blockchain infrastructure foundation Balthazar DAO.\nFTX crypto exchange, which went intobankruptcyin November 2022, is likely to receive court approval on Wednesday to liquidate an estimated crypto holding of US$3.4 billion. The firmproposedto sell up to US$100 million in crypto assets per week, which could be extended to US$200 million.\nThe incoming FTX liquidation indicates the crypto market could “see another US$3.4 billion in crypto-to-fiat off-ramping — a potential liquidity gap that might be hard to fill in the absence of Signature Bank, Silicon Valley Bank, and Silvergate Bank, which were responsible for at least, 50% of all the fiat-to-crypto on-ramping during the last few years,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said in an emailed report.\nThe event could hit altcoins extra hard, said Thielen, due to “unfavourable tokenomics that compel early investors in projects (founders, Venture Capital investors, etc.) to make prudent financial and survival decisions, and liquidate positions.”\nMeanwhile, digital asset investment products saw an outflow of US$59 million in the week ending Sept. 8, marking the fourth consecutive month in a run of outflows that totaled US$294 million, according to a Monday report by European alternative asset managerCoinShares.\nCoinshares also highlighted net inflows in short investment products, suggesting “sentiment remains poor for the asset class,” and attributed the grim mood to “continued worries over regulation of the asset class and recent dollar strength.”\nThe total crypto market capitalization dropped 2.88% in the past 24 hours to US$1.01 trillion as trading volume surged 60.28% to US$32.35 billion.\nU.S. stock futures edged lower as of 09:10 a.m. in Hong Kong. All three major U.S. indexes logged gains in regular trading Monday, with Nasdaq leading with a 1.14% increase.\nThe main stock indexes in Asia were mixed as of 09:30 a.m. in Hong Kong. China’s Shanghai Composite, Hong Kong’s Hang Sheng and South Korea’s Kospi moved lower, while Japan’s Nikkei 225 edged up.\nTesla spearheaded the stock market rally on Monday after Morgan Stanleyupgradedthe electric car maker’s stock from “equal-weight” to “overweight”, saying the firm’s Dojo supercomputer could add over US$500 billion to its market value. Tesla’s share price surged over 10% on Monday, followed by other technology giants including Amazon (+3.52%) and Microsoft (1.10%).\nOn the inflation front, the U.S. consumer price index (CPI) for August will be released on Wednesday. Federal Reserve Bank of Clevelandexpectsthe inflation gauge to rise 3.8% year-on-year, up from 3.2% in July.\nThe inflation gauge will provide further insights into the Federal Reserve’s future monetary policies, which aims to curb the annual inflation rate below 2% and in July raised the interest rates to the range between 5.25% and 5.50% — the highest level in the past 22 years.\n“This week is more likely to be a ‘good news is good, bad news is bad’ story,” Chris Larkin, managing director of trading and investing at E*Trade from Morgan Stanley, toldBloombergon Tuesay. “The market’s ability to rebound in the near term could hinge on this week’s inflation numbers, especially Wednesday’s CPI.”\nTheCME FedWatch Toolpredicts a 93% chance the central bank will maintain the current rate unchanged in September. It gives a 57.6% chance for another pause in November, up from 53.5% on Monday.\n(Updates with equity section.)', 'Bitcoin fell on Tuesday morning in Asia to hover above US$25,000 after briefly losing the key support level for the first time in the past almost three months. Ether also slid to lose control of the US$1,600 support level. All other top 10 non-stablecoin cryptocurrencies also booked losses, with XRP leading the losers with a 24-hour drop of more than 5%. The drop came ahead of a potential FTX liquidation that could see the collapsed crypto exchange sell its US$3.4 billion worth of crypto assets by the end of the year. U.S. stock futures edged lower, after Wall Street logged daily gains on Monday, as investors await key U.S. inflation data this week. Bitcoin briefly falls below US$25,000 Bitcoin dropped 2.72% in the last 24 hours to US$25,115.32 as of 07:30 a.m. in Hong Kong, down 2.57% for the week, according to CoinMarketCap data. The world’s largest cryptocurrency dipped to its lowest price since June 15, touching US$24,930.30 on Tuesday morning. Ether saw a bigger loss, dropping 4.31% to US$1,547.18 and lost 4.79% in past week, reaching US$1,533.43 on Tuesday, its lowest in six months. All other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. XRP led the losers, falling 5.17% to US$0.4727 for a weekly loss of 6.92%. “The continued decline in altcoin values seems to be linked to the looming approval of FTX’s asset liquidation, a move that could impact the market values of many top cryptocurrencies including XRP, which FTX holds a substantial amount,” said John Stefanidis, chief executive officer of blockchain infrastructure foundation Balthazar DAO. FTX crypto exchange, which went into bankruptcy in November 2022, is likely to receive court approval on Wednesday to liquidate an estimated crypto holding of US$3.4 billion. The firm proposed to sell up to US$100 million in crypto assets per week, which could be extended to US$200 million. The incoming FTX liquidation indicates the crypto market could “see another US$3.4 billion in crypto-to-fiat off-ramping — a potential liquidity gap that might be hard to fill in the absence of Signature Bank, Silicon Valley Bank, and Silvergate Bank, which were responsible for at least, 50% of all the fiat-to-crypto on-ramping during the last few years,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said in an emailed report. Story continues The event could hit altcoins extra hard, said Thielen, due to “unfavourable tokenomics that compel early investors in projects (founders, Venture Capital investors, etc.) to make prudent financial and survival decisions, and liquidate positions.” Meanwhile, digital asset investment products saw an outflow of US$59 million in the week ending Sept. 8, marking the fourth consecutive month in a run of outflows that totaled US$294 million, according to a Monday report by European alternative asset manager CoinShares . Coinshares also highlighted net inflows in short investment products, suggesting “sentiment remains poor for the asset class,” and attributed the grim mood to “continued worries over regulation of the asset class and recent dollar strength.” The total crypto market capitalization dropped 2.88% in the past 24 hours to US$1.01 trillion as trading volume surged 60.28% to US$32.35 billion. U.S. stock futures flat ahead of CPI release Image: Getty Images U.S. stock futures edged lower as of 09:10 a.m. in Hong Kong. All three major U.S. indexes logged gains in regular trading Monday, with Nasdaq leading with a 1.14% increase. The main stock indexes in Asia were mixed as of 09:30 a.m. in Hong Kong. China’s Shanghai Composite, Hong Kong’s Hang Sheng and South Korea’s Kospi moved lower, while Japan’s Nikkei 225 edged up. Tesla spearheaded the stock market rally on Monday after Morgan Stanley upgraded the electric car maker’s stock from “equal-weight” to “overweight”, saying the firm’s Dojo supercomputer could add over US$500 billion to its market value. Tesla’s share price surged over 10% on Monday, followed by other technology giants including Amazon (+3.52%) and Microsoft (1.10%). On the inflation front, the U.S. consumer price index (CPI) for August will be released on Wednesday. Federal Reserve Bank of Cleveland expects the inflation gauge to rise 3.8% year-on-year, up from 3.2% in July. The inflation gauge will provide further insights into the Federal Reserve’s future monetary policies, which aims to curb the annual inflation rate below 2% and in July raised the interest rates to the range between 5.25% and 5.50% — the highest level in the past 22 years. “This week is more likely to be a ‘good news is good, bad news is bad’ story,” Chris Larkin, managing director of trading and investing at E*Trade from Morgan Stanley, told Bloomberg on Tuesay. “The market’s ability to rebound in the near term could hinge on this week’s inflation numbers, especially Wednesday’s CPI.” The CME FedWatch Tool predicts a 93% chance the central bank will maintain the current rate unchanged in September. It gives a 57.6% chance for another pause in November, up from 53.5% on Monday. (Updates with equity section.)', 'Oasys, a blockchain-based game development platform, will team up withnon-fungible token (NFT)marketplace αU market and cryptocurrency wallet αU Wallet – a crypto wallet by KDDI, one of Japan’s top three telecom companies – for users to trade NFTs on the αU market.\nSee related article:Weekly Market Wrap: ETF developments bolsters Bitcoin above US$26,000\n• This will enable users to buy and sell NFTs on Oasys in the αU market, manage the assets directly in the αU wallet, and transfer and deposit Oasys (OAS) tokens in the wallet.\n• The collaboration will also open up Oasys-native games and decentralized applications to KDDI’s large user base, potentially bringing a new influx of gamers to blockchain games on the network.\n• The announcement is part of Oasys’ wider Web3 initiative. It follows the launch of the “αU” (Alpha You) metaverse and Web3 service earlier in March, that allows any user to become a creator.\n• The Oasys token was trading near a three-week low of US$0.0465 at 10:00 p.m. on Monday in Hong Kong, down over 13% in the past month, according toCoinMarketCapdata.\nSee related article:DeFi revenue remains resilient despite Curve Finance hack', 'Oasys, a blockchain-based game development platform, will team up with non-fungible token (NFT) marketplace αU market and cryptocurrency wallet αU Wallet – a crypto wallet by KDDI, one of Japan’s top three telecom companies – for users to trade NFTs on the αU market. See related article: Weekly Market Wrap: ETF developments bolsters Bitcoin above US$26,000 Fast facts This will enable users to buy and sell NFTs on Oasys in the αU market, manage the assets directly in the αU wallet, and transfer and deposit Oasys (OAS) tokens in the wallet. The collaboration will also open up Oasys-native games and decentralized applications to KDDI’s large user base, potentially bringing a new influx of gamers to blockchain games on the network. The announcement is part of Oasys’ wider Web3 initiative. It follows the launch of the “αU” (Alpha You) metaverse and Web3 service earlier in March, that allows any user to become a creator. The Oasys token was trading near a three-week low of US$0.0465 at 10:00 p.m. on Monday in Hong Kong, down over 13% in the past month, according to CoinMarketCap data. See related article: DeFi revenue remains resilient despite Curve Finance hack', 'Markets are bracing for a possible sell-off, as failed centralized exchange FTX plans to start offloading billions of dollars of digital assets starting this week, pending court approval. On Aug. 24, FTX filed a motion with the United States District Court for the District of Delaware outlining plans for Galaxy Digital to sell assets on behalf of FTX. The court is expected to decide on the motion on Sept. 13. If approved, Galaxy Digital would sell up to $200M worth of assets weekly. The limit would be set at $50M for the first week and $100M thereafter, with a provision allowing FTX to file for further weekly increases to $200M for a specific token at the court\x92s discretion. Chart showing FTX Holdings As Of August 31 According to a court filing , FTX holds over $1.1B worth of SOL, hundreds of millions in BTC and ETH, and major positions in Aptos (APT) and Stargate (STG). FTX abruptly filed for bankruptcy last November as concerns regarding the solvency of its sister trading firm, Alameda Research, triggered a run on the exchange\x92s reserves. The catastrophe revealed rampant intermingling of funds between the two firms and extreme mismanagement, with $8.9B in customer funds estimated to be missing as of March. SOL Drops Ahead Of Verdict SOL was the worst-performing of the top ten crypto assets over the past week with an 8.1% loss. APT is down 7.8 in the past week, while FTT slumped 6.5% in the past day. FTX said the sale of its assets is in the best interests of its debtors as it protects them from the \x93extreme\x94 volatility associated with the crypto markets. \x93This volatility exposes the digital assets to downward price swings and may limit the debtors from maximizing the value of the estates,\x94 it said. FTX is also seeking to recover funds paid for celebrity endorsements , with court documents dated from last week showing efforts to claw back millions of dollars paid to former pro basketballer Shaquille O\x92Neal and tennis star Naomi Osaka, among other athletes and teams. FTX similarly filed to retrieve a $21M investment in LayerZero Labs . Read the original post on The Defiant', 'Markets are bracing for a possible sell-off, as failed centralized exchange FTX plans to start offloading billions of dollars of digital assets starting this week, pending court approval.\nOn Aug. 24, FTX filed a motion with the United States District Court for the District of Delaware outlining plans for Galaxy Digital to sell assets on behalf of FTX. The court is expected to decide on the motion on Sept. 13.\nIf approved, Galaxy Digital would sell up to $200M worth of assets weekly. The limit would be set at $50M for the first week and $100M thereafter, with a provision allowing FTX to file for further weekly increases to $200M for a specific token at the court’s discretion.\nAccording to acourt filing, FTX holds over $1.1B worth of SOL, hundreds of millions in BTC and ETH, and major positions in Aptos (APT) and Stargate (STG).\nFTX abruptly filed for bankruptcy last November as concerns regarding the solvency of its sister trading firm, Alameda Research,triggereda run on the exchange’s reserves. The catastrophe revealed rampant intermingling of funds between the two firms and extreme mismanagement, with$8.9Bin customer funds estimated to be missing as of March.\nSOL was the worst-performing of the top ten crypto assets over the past week with an 8.1% loss. APT is down 7.8 in the past week, while FTT slumped 6.5% in the past day.\nFTX said the sale of its assets is in the best interests of its debtors as it protects them from the “extreme” volatility associated with the crypto markets. “This volatility exposes the digital assets to downward price swings and may limit the debtors from maximizing the value of the estates,” it said.\nFTX is also seeking to recover funds paid forcelebrity endorsements, with court documents dated from last week showing efforts to claw back millions of dollars paid to former pro basketballer Shaquille O’Neal and tennis star Naomi Osaka, among other athletes and teams.\nFTX similarly filed to retrieve a $21M investment inLayerZero Labs.\nRead the original post on The Defiant', '• US tech stocks surged on Monday after Tesla received a bullish upgrade from Morgan Stanley.\n• Tesla stock jumped as much as 10% after Morgan Stanley highlighted the company\'s Dojo supercomputer initiative.\n• Also helping stocks on Monday was the biggest decline in the US dollar in two weeks.\nTechnology shares drove the stock market higher on Monday after Tesla received a bullish upgrade from Morgan Stanley.\nShares ofTesla jumped as much as 10% after Morgan Stanley saidthe company\'s Dojo supercomputer initiative could add $500 billion to its market value.\n"The more we looked at Dojo, the more we realized the potential for underappreciated value in the stock," Morgan Stanley said. "We believe Dojo can represent the next step-change in market perception of Tesla."\nAlso helping stocks on Monday was the US dollar\'s biggest decline in two weeks. The dollar has had an outsized impact on stock prices over the past year. Stocks began to rally in late 2022 right after the US dollar started to break down, and a recent sell-off in stocks this past August was preceded by a sharp rise in the dollar.\nInvestors are awaiting CPI inflation data on Wednesday to better understand whether the Fed will hike interest rates at the next meeting of the Federal Open Market Committee later this month.\nHere\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Monday:\n• S&P 500:4,487.46, up 0.67%\n• Dow Jones Industrial Average:34,663.72, up 0.25% (+87.13 points)\n• Nasdaq Composite:13,917.89, up 1.14%\nHere\'s what else is going on today:\n• TheChinese yuan bounced from its 16-year lowon Monday as China\'s central bank announced it would continue to support the embattled currency through its prolonged slump.\n• US consumer debt fears are overblownas borrowing slows and inflation cools, according to Moody\'s Analytics\' chief economist.\n• A hacker gained access to the\xa0X\xa0account of ethereum co-founder Vitalik Buterinand posted a malicious link to 4.9 million followers on Saturday.\n• The US is importing more goods from Mexicothan from China for the first time since 2003.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 0.25% to $87.29 a barrel.Brent, the international benchmark, dropped 0.06% to $90.60 a barrel.\n• Goldjumped 0.18% to $1,946.10 per ounce.\n• The yield on the 10-year Treasury bond rose one basis points to 4.28%.\n• Bitcoinfell 3.05% to $25,045.\nRead the original article onBusiness Insider', 'Spencer Platt/Getty Images US tech stocks surged on Monday after Tesla received a bullish upgrade from Morgan Stanley. Tesla stock jumped as much as 10% after Morgan Stanley highlighted the company\'s Dojo supercomputer initiative. Also helping stocks on Monday was the biggest decline in the US dollar in two weeks. Technology shares drove the stock market higher on Monday after Tesla received a bullish upgrade from Morgan Stanley. Shares of Tesla jumped as much as 10% after Morgan Stanley said the company\'s Dojo supercomputer initiative could add $500 billion to its market value. "The more we looked at Dojo, the more we realized the potential for underappreciated value in the stock," Morgan Stanley said. "We believe Dojo can represent the next step-change in market perception of Tesla." Also helping stocks on Monday was the US dollar\'s biggest decline in two weeks. The dollar has had an outsized impact on stock prices over the past year. Stocks began to rally in late 2022 right after the US dollar started to break down, and a recent sell-off in stocks this past August was preceded by a sharp rise in the dollar. Investors are awaiting CPI inflation data on Wednesday to better understand whether the Fed will hike interest rates at the next meeting of the Federal Open Market Committee later this month. Here\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Monday: S&P 500 : 4,487.46, up 0.67% Dow Jones Industrial Average : 34,663.72, up 0.25% (+87.13 points) Nasdaq Composite : 13,917.89, up 1.14% Here\'s what else is going on today: The Chinese yuan bounced from its 16-year low on Monday as China\'s central bank announced it would continue to support the embattled currency through its prolonged slump. US consumer debt fears are overblown as borrowing slows and inflation cools, according to Moody\'s Analytics\' chief economist. A hacker gained access to the\xa0X\xa0account of ethereum co-founder Vitalik Buterin and posted a malicious link to 4.9 million followers on Saturday. The US is importing more goods from Mexico than from China for the first time since 2003. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 0.25% to $87.29 a barrel. Brent , the international benchmark, dropped 0.06% to $90.60 a barrel. Gold jumped 0.18% to $1,946.10 per ounce. The yield on the 10-year Treasury bond rose one basis points to 4.28%. Bitcoin fell 3.05% to $25,045. Read the original article on Business Insider', 'Zodia Custody, a cryptocurrency storage provider and a subsidiary of Standard Chartered (STAN), has launched in Singapore, to provide digital asset custody services for financial institutions, the firm announced on Tuesday. It has set up a company called Zodia Custody (Singapore) Pvt. Limited and appointed former Bitgo managing director Kai Kano as its first CEO. Custody in Singapore is not a licenced activity yet and therefore Zodia Custody does not need a licence but it wants to be in pole position for when the time comes. "We want to be where there is a global financial centre as soon as we have a regulatory roadmap that enables us to spend our dollars and invest in a market and that provides the assurance to our clients that we can operate there," said Zodia Custody CEO Julian Sawyer in an interview to CoinDesk. The development marks a rare marriage of a traditional financial institution and a digital asset firm in Singapore. Zodia Custody is already registered in the U.K., Ireland, Luxembourg and has an application pending in Japan. Earlier this month, Zodia Markets, a separate entity which is a digital asset marketplace, also backed by Standard Chartered Ventures, was granted approval in principle to operate as an over-the-counter (OTC) crypto broker-dealer in Abu Dhabi. Standard Chartered has been working in collaboration with the Monetary Authority of Singapore (MAS) and other financial institutions on an initiative called Project Guardian to test asset tokenization. Standard Chartered is also developing an initial token offering platform to issue asset-backed security tokens listed on the Singapore Exchange. Read More: Bitcoin Could Rise to $120K by End-2024: Standard Chartered View comments', 'Zodia Custody, a cryptocurrency storage provider and a subsidiary of Standard Chartered (STAN), has launched in Singapore, to provide digital asset custody services for financial institutions, the firm announced on Tuesday.\nIt has set up a company called Zodia Custody (Singapore) Pvt. Limited and appointed former Bitgo managing directorKai Kanoas its first CEO.\nCustody in Singapore is not a licenced activity yet and therefore Zodia Custody does not need a licence but it wants to be in pole position for when the time comes.\n"We want to be where there is a global financial centre as soon as we have a regulatory roadmap that enables us to spend our dollars and invest in a market and that provides the assurance to our clients that we can operate there," said Zodia Custody CEO Julian Sawyer in an interview to CoinDesk.\nThe development marks a rare marriage of a traditional financial institution and a digital asset firm in Singapore. Zodia Custody is already registered in the U.K., Ireland, Luxembourg and has an application pending in Japan.\nEarlier this month, Zodia Markets, a separate entity which is a digital asset marketplace, also backed by Standard Chartered Ventures, wasgranted approval in principleto operate as an over-the-counter (OTC) crypto broker-dealer in Abu Dhabi.\nStandard Chartered has been working in collaboration with the Monetary Authority of Singapore (MAS) and other financial institutions on an initiative called Project Guardian to test asset tokenization. Standard Chartered is also developing an initial token offering platform to issue asset-backed security tokens listed on the Singapore Exchange.\nRead More:Bitcoin Could Rise to $120K by End-2024: Standard Chartered', 'FTX’s Crypto Portfolio Worth $3.4B, Consists of $1.16B of Solana FTX\'s Crypto Portfolio Includes Solana Tokens Bankrupt crypto exchange FTX has revealed in a court filing that its liquid crypto portfolio is worth $3.4 billion, which consists of\xa0 $1.16 billion worth of Solana (SOL) tokens. The second-largest holding is Bitcoin (BTC) , valued at $560 million, followed by Ethereum (ETH) at $196 million. Aptos (APT) makes up $136 million of FTX\'s portfolio. Within its holdings, FTX\'s largest venture token investment is in Solana, valued at $137 million, with NEAR token as the second-largest investment at $80 million. In addition to these assets, FTX owns a separate stash of "Category B" crypto assets, which are assets that are not as liquid or are largely controlled by FTX or both. This includes 10 billion Serum (SRM) tokens and 269 million Mango (MNGO) tokens. Despite FTX\'s bankruptcy filing, Solana Labs co-founder Anatoly Yakovenko remains committed to the project, even as signs indicate that FTX\'s estate is preparing to liquidate its holdings. The court document also details FTX\'s holdings, which include cryptocurrency, cash, government-recovered assets, and other investments. It includes information on payments made to past CEOs as well as political and charity contributions. These payments may be seized and allocated to creditors under US law. FTX\'s estate also includes 38 properties in the Bahamas worth a total of $222 million. These assets and holdings will be managed and distributed among FTX\'s creditors based on the court proceedings. FTX is currently seeking to claw back funds paid in celebrity deals and funds withdrawn by parties like LayerZero Labs . View comments', 'FTX\'s Crypto Portfolio Includes Solana Tokens\nBankrupt crypto exchange FTXhas revealed in a court filing that its liquid crypto portfolio is worth $3.4 billion, which consists of\xa0 $1.16 billion worth ofSolana (SOL)tokens. The second-largest holding isBitcoin (BTC), valued at $560 million, followed byEthereum (ETH)at $196 million.Aptos (APT)makes up $136 million of FTX\'s portfolio.\nWithin its holdings, FTX\'s largest venture token investment is in Solana, valued at $137 million, withNEARtoken as the second-largest investment at $80 million. In addition to these assets, FTX owns a separate stash of "Category B" crypto assets, which are assets that are not as liquid or are largely controlled by FTX or both. This includes 10 billionSerum (SRM)tokens and 269 millionMango (MNGO)tokens.\nDespite FTX\'s bankruptcy filing, Solana Labs co-founder Anatoly Yakovenko remains committed to the project, even as signs indicate that FTX\'s estate is preparing to liquidate its holdings.\nThe court document also details FTX\'s holdings, which include cryptocurrency, cash, government-recovered assets, and other investments. It includes information on payments made to past CEOs as well as political and charity contributions. These payments may be seized and allocated to creditors under US law.\nFTX\'s estate also includes 38 properties in the Bahamas worth a total of $222 million. These assets and holdings will be managed and distributed among FTX\'s creditors based on the court proceedings. FTX is currently seeking toclaw back funds paid in celebrity dealsandfunds withdrawn by parties like LayerZero Labs.', 'Gensler Slams Crypto’s “Wide-Ranging Non-Compliance” Ahead of Hearing on SEC’s Oversight Gensler Emphasized The Crypto Industry\'s Noncompliance With Securities Rules SEC Chair Gary Gensler remains steadfast in his tough stance on cryptocurrencies, as indicated by his written remarks ahead of his testimony on SEC oversight. Gensler emphasized the industry\'s noncompliance with securities rules, drawing comparisons to the problems encountered prior to the introduction of federal securities laws in the 1920s. While Gensler is slated to testify on a variety of topics, his comments on cryptocurrency will be eagerly monitored by an industry seeking for regulatory certainty in the United States. Gensler restated his stance that existing securities rules in the United States are enough to handle cryptocurrencies, citing the Howey Test, and that most crypto tokens likely meet the investment contract test. However, he has not explicitly clarified how the Howey Test applies to specific coins like Ethereum, although in an interview he suggested that "everything but Bitcoin" could be considered a security. The distinction between securities and commodities determines whether specific tokens and firms are subject to SEC or Commodity Futures Trading Commission regulation. This controversy has spurred debate and even suspicions of a turf war between the two agencies. Crypto enthusiasts say that a regulatory approach oriented on enforcement does not adequately serve investors or issuers. Republican legislators wrote a letter in April blaming the regulator\'s approach for a lack of clear standards and a nonexistent road for crypto trading firms to register with the SEC.', 'Gensler Emphasized The Crypto Industry\'s Noncompliance With Securities Rules\nSEC Chair Gary Genslerremains steadfast in his tough stance on cryptocurrencies, as indicated by his written remarks ahead of his testimony on SEC oversight.\nGensler emphasized the industry\'s noncompliance with securities rules, drawing comparisons to the problems encountered prior to the introduction of federal securities laws in the 1920s. While Gensler is slated to testify on a variety of topics, his comments on cryptocurrency will be eagerly monitored by an industry seeking for regulatory certainty in the United States.\nGensler restated his stance that existing securities rules in the United States are enough to handle cryptocurrencies, citing the Howey Test, and that most crypto tokens likely meet the investment contract test. However, he has not explicitly clarified how the Howey Test applies to specific coins like Ethereum, although in an interview he suggested that "everything but Bitcoin" could be considered a security.\nThe distinction between securities and commodities determines whether specific tokens and firms are subject to SEC or Commodity Futures Trading Commission regulation. This controversy has spurred debate and even suspicions of a turf war between the two agencies.\nCrypto enthusiasts say that a regulatory approach oriented on enforcement does not adequately serve investors or issuers. Republican legislators wrote a letter in April blaming the regulator\'s approach for a lack of clear standards and a nonexistent road for crypto trading firms to register with the SEC.', "Ethereum Is the \x93Most Sold Digital Asset by Large Entities,\x94 Outflows Exceed $100M in 2023 Ethereum Is The Most Sold Over This Year Ethereum (ETH) has experienced significant outflows from institutional investors in 2023, with sales reaching over $108 million year-to-date, making it the most sold digital asset among large entities. CoinShares' analysis revealed that Ethereum had $4.8 million in outflows in the past week alone. Among exchange-traded product (ETP) investors, Ethereum is the most sold over this year, surpassing Tron by more than $50 million. However, the situation may soon change with Ark Invest, led by Cathie Wood, applying for the first Ethereum exchange-traded fund (ETF) in the United States. This comes as Ethereum faces challenges such as inflationary changes to the network and declining on-chain activity due to the ongoing bear market. According to CoinShares' weekly report , attitude towards institutional crypto purchases remains negative. According to the data, outflows totaled $59 million in the previous seven days, marking the fourth straight week of selling. The key reason for the selling is the rise of the US dollar, which is being driven by market expectations of a soft landing scenario. However, as the year passes and high interest rates become a factor, the attitude may shift. Trading volume for Ethereum has also decreased, with daily volumes averaging $2.3 billion over the last month, compared to a yearly average of $7 billion. This indicates a dearth of investor interest, similar to the market before to the past two Bitcoin halvings. Meanwhile, Bitcoin witnessed $69 million in outflows last week, while short products saw huge inflows, likely due to regulatory uncertainty.", "Ethereum Is The Most Sold Over This Year\nEthereum (ETH)has experienced significant outflows from institutional investors in 2023, with sales reaching over $108 million year-to-date, making it the most sold digital asset among large entities.\nCoinShares' analysis revealed that Ethereum had $4.8 million in outflows in the past week alone. Among exchange-traded product (ETP) investors, Ethereum is the most sold over this year, surpassing Tron by more than $50 million.\nHowever, the situation may soon change with Ark Invest, led by Cathie Wood, applying for the first Ethereum exchange-traded fund (ETF) in the United States. This comes as Ethereum faces challenges such as inflationary changes to the network and declining on-chain activity due to the ongoing bear market.\nAccording to CoinShares' weeklyreport, attitude towards institutional crypto purchases remains negative. According to the data, outflows totaled $59 million in the previous seven days, marking the fourth straight week of selling. The key reason for the selling is the rise of the US dollar, which is being driven by market expectations of a soft landing scenario. However, as the year passes and high interest rates become a factor, the attitude may shift.\nTrading volume for Ethereum has also decreased, with daily volumes averaging $2.3 billion over the last month, compared to a yearly average of $7 billion. This indicates a dearth of investor interest, similar to the market before to the past twoBitcoinhalvings. Meanwhile, Bitcoin witnessed $69 million in outflows last week, while short products saw huge inflows, likely due to regulatory uncertainty.", 'CoinbaseL2,Base, halts momentarily, experiencing its first major outage for just under 45 minutes. TheFrax Financeteam proposes astakedFRAXimplementation, to compete againstMakerDAO’sDAIand the DAI Savings Rate. Finally, lending protocol,Aave, resumes minting of their stablecoin,GHO, after halting it earlier due to integration issues.\nHuge week forDeFi! Let’s dive deeper into what went down in DeFi this past week.\nTotal value locked (TVL)across all chains remained largely flat through the week as majors traded sideways. Notable exceptions to the trend includeGnosis Chain, which saw a 20% jump in TVL andStarkNet, which saw a TVL rise of almost 9%.\nSource: DeFiLlama\nPaul Veradittakit shares about some of the top trends at the recent Stanford Blockchain Week, including optimization ofzero-knowledge technology, “plug & play”modularityand renewed interest in theBitcoindeveloper ecosystem.\nA new privacy paper has been released by several prominent figures, includingEthereumfounder,Vitalik Buterin, concerning how to achieve compliance while enabling privacy.\nZoomer Oracle dives into the psychology of trading with the masses and understanding how to think about how other market participants think.\nStablecoinprotocol, Frax Finance, releases agovernanceproposal for staked FRAX (sFRAX), which would allow FRAX holders to stake FRAX and earn a yield derived from eitherreal-world assetsor DeFi yields. The yield is expected to be between 5-10%.\nMoney marketprotocol, Aave, resumes minting of their native stablecoin, GHO, on Ethereum on Aave V3 after an integration issue resulted in minting being halted in late August. No funds were at risk or lost in the process.\nIn the same week, Aave introduced two new features, Debt Switch, which enables switching of debt from one asset to another for more competitive borrow rates, and Withdraw and Switch, which allows users to withdraw deposited assets as GHO.\nAdvanced DeFi strategy protocol, DeFi Saver, introduces ETH Saver, a protocol enabling single-transactionleveragedETH strategies. Currently, ETH Saver supportsLido,Rocket PoolandCoinbasefor ETH deposits and Morpho Labs,Compound Financeand Aave for leverage.\nEthereumLSDFistablecoin protocol,Raft, releases Raft V2, pushing out new updates including the R Savings Rate, which yields 6% on theirRstablecoin, similar to MakerDAO’s DAI Savings Rate. Additionally, V2 introduces thepegstability module to ensure that R maintains a tighter peg.\nLiquid staking derivative(LSD) protocol, Swell Network, has turned their token,swETH, into an omnichain token, powered byLayerZero. Users can now trade or provide liquidity for swETH onArbitrum, with more chains to come.\nUniswapV3 management tool, Arrakis Finance, introduces LST Vaults, optimizing specific vaults formarket makingon LSD tokens for depth and minimalprice impacton LSD token trades.\nTelegram trading bot,Unibot, introduces a loyalty program which will entitle qualifying users for discounts on trading fees on the platform. Additionally, Unibot cut the trading tax on their token from 5% to 4% in the same week.\nFlexible credit facilitation protocol, Wildcat Protocol, drops a newwhitepaper, outlining how it works, their target market and how users would be able to use the protocol.\nCoinbase L2, Base, went down for almost 45 minutes earlier this week, haltingblockproduction during the period. The chain is now operational again and no funds were lost.\nUSDCissuer, Circle, deploys the Cross-Chain Transfer Protocol (CCTP) onOptimism, enabling the seamless transfer of USDC across their supported chains, which also include Ethereum, Arbitrum andAvalanche. In the same week,native USDC goes live on Optimism and Base.\nMultichainstablecoindecentralized exchange(DEX),Wombat, releases theircross-chainpool, allowing traders to swap seamlessly between USDC andUSDTacross their three supported chains: Arbitrum,Binance Smart Chainand Ethereum.\nSynthetixfounder, Kain Warwick, announces the plans for Synthetix’s future, laying out the need to experiment with other chains using ETH ascollateralfor trading and the possibility of Synthetix moving towards an Optimism-basedAppchainin the future.\nOptionsprotocol, Cega, deploys Eth Staker vaults, allowing USDC depositors to earn yields from premiums generated from selling options on ETH LSD tokens as well as governance tokens of ETH LSD protocols. The current underlying assets are LDO, RPL andstETH.\nSingle-clickrollupdeployer, Caldera, deploys three new chains on Arbitrum Orbit, for options andfuturesDEX, Syndr,on-chaingame studio,Sanko Game Corp, and money-market development protocol, Volatilis.\nCavalRe deploys multi-token swapautomated market maker(AMM), Multiswap, which uses a unified liquidity pool forconcentrated liquidityto enable buying or selling of multiple tokens in a single transaction.\nHxro Networkintroduces Zero-Day Futures (ZDFs), a newderivativecontract for short term speculation on crypto assets. ZDFs settle on a 25-hour expiration cycle and settle back to USDC based on theoracleprice at expiration.\nDeFi optimization platform, Chaos Labs, initiates a new proposal forperpetualsDEX,dYdX, to set aside $20 million in dYdX tokens for a six month incentives program for dYdX V4, ahead of theirmainnetlaunch.\nBridgingprotocol,Connext’sairdropgoes live, enabling eligible users to claim their share of the airdrop. Despite a small hiccup in the process which paused claims momentarily, claims are now re-enabled and processing smoothly.\nMarkets trade flat as traders lose interest in the crypto space, but projects are just heads-down building. Stay updated on your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects,degens!', 'Fintech Blockchain Market Life And Non Life Insurance Penetration In Selected Countries And Territories Worldwide I\nDublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The"Fintech Blockchain Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)"report has been added toResearchAndMarkets.com\'soffering.\nThe global Fintech Blockchain Market is poised for remarkable growth, with a projected increase from USD 3.17 billion in 2023 to a staggering USD 21.67 billion by 2028.\nThis impressive surge, representing a compound annual growth rate (CAGR) of 46.92%, is attributed to the convergence of factors such as the expanding market cap of cryptocurrencies and Initial Coin Offerings (ICOs), surging demand for distributed ledger technology, and the widespread adoption of advanced blockchain solutions within financial institutions.\nThis revelation comes as the digital transformation of the financial sector gains momentum, evidenced by the rising popularity of digital banking technologies and automated chatbots catering to burgeoning customer service needs.\nAs the financial industry witnesses this profound metamorphosis, the adoption of cryptocurrencies and digital tokens for payments emerges as a pivotal driving force for further market expansion. Fintech enterprises are increasingly integrating blockchain technology to streamline business operations, mitigate fraudulent activities, and elevate customer service standards. Notably, blockchain-based platforms like Ripple are garnering significant attention, indicating a forthcoming wave of increased acceptance within the financial sector.\nStablecoins, a subset of cryptocurrencies, are garnering substantial traction due to their ability to enhance liquidity, yield cost savings, and ensure market stability. These innovations provide a tantalizing glimpse into the future potential of Decentralized Finance (DeFi) protocols. Over the next few years, DeFi and blockchain technology are set to foster innovation across various industries, perpetuating a period of transformation and growth.\nBlockchain\'s Impact on the Insurance Sector\nOne of the most remarkable trends steering the market\'s trajectory is the increasing utilization of blockchain within the insurance sector. This technology is precipitating a paradigm shift in insurance operations, endowing the industry with an array of advantages. These include cost reduction, enhanced customer experiences, heightened efficiency, amplified transparency, and more. The integration of blockchain presents an invaluable opportunity for both fintech firms and insurance providers ready to embrace this transformative shift.\nThe transparency inherent to blockchain holds the potential to revolutionize the insurance landscape. The technology offers a trustworthy repository for transaction data, making it an ideal platform for validating the authenticity of insurance claims. This level of transparency instills confidence in the process and empowers insurance providers to make informed decisions regarding claims coverage percentages.\nIn a noteworthy development, a UK-based startup, Superscript, and London-based insurance market broker Lloyd\'s introduced a specialized insurance product called "Daylight" in May 2022. Designed for crypto businesses, this offering encompasses technology liability and cyber insurance, safeguarding against an array of risks, including ransomware attacks and unintentional copyright infringements. Furthermore, with the burgeoning proliferation of Internet of Things (IoT) technology, the quantum of data generated by interconnected devices is skyrocketing. Blockchain, with its efficient data management capabilities, is positioned to securely navigate this landscape, allowing devices to communicate and manage each other seamlessly and cost-effectively.\nDominance of North America in Fintech Blockchain\nTraditionally, global cross-border payments were encumbered by regulatory constraints and exorbitant costs. However, the advent of distributed ledger technology, particularly blockchain, is revolutionizing the landscape. Blockc
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-12
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $490,636,926,338
- Hash Rate: 379546363.0514252
- Transaction Count: 462328.0
- Unique Addresses: 784703.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.30
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: With the Federal Reserve now committed to making monetary policy decisions on the fly, this year’s in Jackson’s Hole may matter more than ever. All eyes are on this resort in the Grand Teton mountains, where the polyester vests are multiple, double entendres about “bears” are funny, and there are a surprising amount of Coin Boys dressing up like cowboys . How exactly did a bucolic hotel situated 34 miles off from Jackson, Wyoming become the site of the “world’s most exclusive economic get-together?” New York Times fed whisperer Jeanna Smialek writes, it’s simply where news is made.And you get on the Federal Reserve Bank of Kansas City’s uber selective guest list, you know you’ve made it monetarily-speaking. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here . It’s where, every year since he’s stepped up as Chairman of the Federal Reserve, Jerome Powell has directed the flows of the U.S. economy. The thing is, he doesn’t even need to get it right. Last year he predicted glum and gloom and the U.S. got job growth and slowed inflation. This year, he said almost exactly what was predicted. The economy has been growing faster than expected. More rate hikes may be needed. The Fed is determined to get inflation down to its longstanding target of 2%. All that pageantry, all that caviar flown into the woods of Wyoming, for this? Well things aren’t all that simple. The Fed’s policy and outlook is essentially unchanged, but at a time when economic uncertainty has never been so heightened. Unlike just a few months ago when it was clear that the Federal Reserve would continue to raise interest rates to slow economic expansion, whether people liked it or not, the central bank is now watching and waiting and adjusting based upon ebbs and flows that are essentially impossible to predict. This is one of the most interesting times to be alive for anyone with an interest in economics, because it’s a moment where the world’s most important banker has never been in such a deferential position to fate. His decisions still matter. Raising rates increases the cost of living across the country and world: it makes mortgages costlier and cars more expensive. Powell's team determines whether in aggregate the American Male will buy that new rec vehicle, or hold off for another year. Story continues One thing seems certain, a rate cut – which would make money cheaper, and more likely to flow into assets at the far end of the risk curve – is not happening anytime soon. How do we know? Well, Powell didn’t even mention it and according to the Fed Whisperers that means all those who expected a cut by the end of the year will have to wait. This is not a rational system, despite all the data, though I’m beginning to suspect it was never designed to be. How is inflation measured? Well the Fed pays people to walk around grocery stores and write down the prices. Should gas, that thing that – excuse the pun – drives the economy by getting people to work, figure in at all? Maybe if the cost of gas were less volatile. Have you ever looked into why 2% is the standard for inflation? Because it feels right. It’s “low enough for consumer comfort but relaxed enough for the economy to flourish,” as the NYTs notes , adding that it’s settled policy “according to Fed doctrine settled years ago.” It’s like asking why people want to go to Jackson, Wyoming — because that’s where the people go. See also: What the New York Times Gets Wrong About Bitcoin Mining I don’t know if any of this bodes well for Bitcoin, even if it looks comparatively rational. Complain about BTC’s price action all you want, but at least everyone knows next month how many bitcoins will be in circulation. But why did Satoshi settle on this emissions schedule, and are we sure they made the right choice? What took me a longer time to figure out than I’d like to admit is that the choice between crypto and fiat is not total. Just because Michael Saylor has and seems likely to continue evacuating all his wealth into bitcoin doesn't mean that’s the only path. Saylor may wake up one day and realize he was wrong to call the U.S. dollar a “shrinking ice cube,” and realize that the Fed did manage to get inflation under control (it’s currently been slowed to 3.2% , down from a peak of 9.1% in June 2022). If there’s any lesson from Powell in Jackson Hole over the years is that there is no ideal economy, just the one you have. Powell has never looked less like Bitcoin, because it’s never been so unclear what his policy will look like this time next year. But there’s a certain stability in that, as much and as absurd as the assurances of Bitcoin having it all worked out in advance....
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['While debate rages on about thepossible approval of an exchange-traded fundbased on the spot price of the benchmark cryptocurrency, individual cryptos have again suffered lackluster trading. In what seems to be another week of sideways consolidation, investors need to be extremely cautious with decentralized digital assets.\nWhile not a comprehensive insight, the options market for popular blockchain enterprises doesn’t provide much room for confidence. For example,Marathon Digital(NASDAQ:MARA) is one of the biggest miners of cryptos. However, itsimplied volatility (IV) trendshows that while activity is heightened at upper strike prices, it has spiked the most in the lowest strike prices.\nFurther, thesame can be saidaboutRiot Platforms(NASDAQ:RIOT). While IV moves up alongside rising strike prices, it spikes the most – by a wide margin – at the lowest strike price. Stated differently, it appears that the smart money is hedging for catastrophic risks against the blockchain miners. That’s not a great look for cryptos, to be honest.\xa0Still, investors should consider the merits of each individual coin or token. With that, below are the top cryptos to watch this week.\nInvestorPlace - Stock Market News, Stock Advice & Trading Tips\nSource: Sittipong Phokawattana / Shutterstock.com\nAs was the case last week,Bitcoin(BTC-USD) finds itself struggling for traction. Over the past 24 hours heading into early Tuesday morning, BTC gained just under 1%. However, this print overlooks the more worrying data point of the coin dropping below $26,000. At the moment, BTC trades hand at around $25,900.\nTo be sure, much of the mainstream media attention focuses on the drama associated with theapproval of a spot Bitcoin ETF. Should a green light be given, I’m certain that BTC will at least temporarily skyrocket. However, where it goes from there is anyone’s guess. After all, it’s not the first time that a supposed legal victory failed to yield sustained gains.\nFundamentally, investors of Bitcoin and other cryptos should be concerned about the viability of the retail investment community. For example, with Americans’credit card debtshooting over the $1 trillion mark, an economic slowdown leaves many investors vulnerable.\xa0Especially right now, the ecosystem doesn’t seem favorable for risk-on assets like virtual currencies. Therefore, I would maintain vigilance.\nSource: shutterstock\nThe number two cryptocurrency by market capitalization,Ethereum(ETH-USD) finds itself sadly on familiar ground. Right now, ETH prints a value of $1,585, thus moving in the wrong direction. In the past 24 hours, ETH dipped about 1.7%. Over the trailing one-week period, the popular digital asset fell 2%.\nAs with Bitcoin above, Ethereum seeks an upside catalyst. What the difference is now is that time may be of the essence. Roughly speaking, ETH gained around 32% of market value since the beginning of the year. However, in the past 30 days, ETH fell more than 14%. Presumably, the bulls need to start picking up the slack lest the bears smell blood.\nFurther, my hesitation centers on the aforementioned options trading dynamic impacting blockchain miners. If cryptos fall, the mining sector generally plunges as well. So, it appears that the options traders – the smart money – recognize this risk; hence, the spiked IV in the extreme-low strike prices.\xa0Of course, as a longtime believer in cryptos, I want to express better news. However, the data must take priority over narratives.\nSource: DIAMOND VISUALS / Shutterstock.com\nFor those new to cryptos,Tether(USDT-USD) is – so far anyway – the most valuable stablecoin. This type of cryptocurrency is pegged to a hard (fiat) currency, usually the dollar as is the case with Tether. Therefore, investors who acquire USDT units usually don’t do so for capital gains purposes (aside from complex arbitrage trading schemes). Rather, it’s a form of convenience and wealth “storage.”\nBasically, Tether is the oil that keeps the blockchain engine running smoothly. By holding wealth in USDT, market participants can advantage of opportunities within various cryptos quickly and conveniently. With ample volume and velocity, the ratio between USDT and the U.S. dollar should be one-to-one. If minor blips occur, they should be miniscule.\nHowever, the problem is that for the last several weeks, I’ve noticed on multiple occasions that Tether traded conspicuously below the 1:1 ratio. While I don’t anticipate a complete failure of the peg, I’m worried about the implied lack of confidence.\xa0Again, I’m not necessarily worried about a crypto bank run. Still, you want to take the time here to manage your risk exposure accordingly.\nSource: Shutterstock\nOnce the promising name among cryptos thanks to its positive regulatory nod,XRP(XRP-USD) finds itself back in the weeds. By every practical measure, XRP has lost all the gains associated with becoming the virtual currency with legal precedence, stemming from creatorRipple Labs’generally favorable courtroom result.\nAt the moment, XRP lost about 3.5% in the trailing 24 hours. In the trailing seven days, the crypto dropped more than 5%. Priced at 47.9 cents, it’s only a bit higher than the 47.1 cent price that XRP started off at for the memorable July 13 session. Now, with XRP trading below its 200 DMA (51 cents) and 50 DMA (58 cents), circumstances seem far less auspicious.\nOne inkling of optimism is that strong horizontal support exists at approximately the 47.5-cent line. However, it’s a double-edged sword. If XRP fails to move higher from where it presently sits, the bears could come out in full force due to the ugly technical profile.\xa0As has been the case for the last few weeks, let the buyer beware.\nSource: Shutterstock\nWhen it comes to assessingCardano(ADA-USD), all I can think of is that it’s flirting with danger. Ranking among the most popular alternative cryptos or altcoins, ADA commands a cult-like status. Still, that hasn’t been enough to bolster ADA. Currently, the coin trades hands at 24.7 cents, down roughly a third of a percent in the past 24 hours. In the trailing week, it slipped more than 3%.\nTechnically, Cardano will likely suffer great difficulty in generating credibility. Following a flat-to-negative performance since the start of 2023, ADA tanked roughly 51% in the past 365 days. Unfortunately, investors may lose confidence, given the lack of upside impetus. In addition, volume trends have gradually declined since January. Not surprisingly, ADA trades below its 50 DMA (28 cents) and 200 DMA (33 cents).\nOne bit of good news is that ADA trades just above horizontal support, which lies at about 24.5 cents. However, the bulls need to show some resilience here. The additional downside could erode what little confidence remains in Cardano, making it one of the riskiest cryptos.\nSource: Rcc_Btn / Shutterstock.com\nAnother promising name among cryptos that has turned into a nightmare,Solana(SOL-USD) once held promise as an Ethereum killer. Basically, the underlying blockchain technology promised to facilitate the functionalities of the ETH network but with key improvements; notably, greater scalability and far lower transactional costs or fees. Then, in 2022 the rise of interest rates happened and SOL has not looked the same since.\nIn the past 24 hours, SOL dipped about a third of a percent. In the trailing one-week period, the token gave up 5.5% of its market value. Worryingly, Solana – which trades hands at $18.21 at the time of writing – sits conspicuously below its 200 DMA ($21.08) and its 50 DMA ($21.97).\nEven worse, the price action is hanging in no-man’s-land. Looking at the chart, an investor can visually spot a horizontal support line at approximately $21. Dropping below this point will almost surely attract the bears.\xa0Sadly, similar to other virtual currencies, volume faded considerably in recent weeks. Without much interest, investors may want to head to the sidelines.\nSource: Zarko Prusac / Shutterstock.com\nWhile some might erroneously viewDogecoin(DOGE-USD) as a scam, it continues to defy gravity. Thanks to its loyal army of advocates, one can never really count out DOGE. Just when you think the meme coin suffered a fatal blow, it jumps right back into the discussion. It’s basically the Fast and Furious franchise of cryptos.\nHowever, rabid retail support can only go so far. While Dogecoin gained about half a percent in the trailing 24 hours, it fell almost 3% in the trailing seven days. Still, the good news is that with a market cap of nearly $8.7 billion, it ranks number seven in terms of the most valuable blockchain assets.\nOverall, though, there’s little to celebrate about Dogecoin. For one thing, the volume level in September has fallen down to bare bones. This dynamic reflects a broader lack of interest, akin to what we’re seeing in the blockchain mining stocks.\nSecond, DOGE at 6.1 cents trades noticeably below its 50 DMA (6.9 cents) and 200 DMA (7.3 cents). Amid rising skepticism, now might not be an ideal time to speculate on cryptos, especially the riskiest examples.\nOn the date of publication, Josh Enomotoheld a LONG position in\xa0BTC, ETH, USDT, and XRP.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.\nA former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.\n• ChatGPT IPO Could Shock the World, Make This Move Before the Announcement\n• Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.\n• The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors\nThe post7 Cryptos to Watch as the Blockchain Slogs Throughappeared first onInvestorPlace.', 'While debate rages on about the possible approval of an exchange-traded fund based on the spot price of the benchmark cryptocurrency, individual cryptos have again suffered lackluster trading. In what seems to be another week of sideways consolidation, investors need to be extremely cautious with decentralized digital assets. While not a comprehensive insight, the options market for popular blockchain enterprises doesn’t provide much room for confidence. For example, Marathon Digital (NASDAQ: MARA ) is one of the biggest miners of cryptos. However, its implied volatility (IV) trend shows that while activity is heightened at upper strike prices, it has spiked the most in the lowest strike prices. Further, the same can be said about Riot Platforms (NASDAQ: RIOT ). While IV moves up alongside rising strike prices, it spikes the most – by a wide margin – at the lowest strike price. Stated differently, it appears that the smart money is hedging for catastrophic risks against the blockchain miners. That’s not a great look for cryptos, to be honest.\xa0Still, investors should consider the merits of each individual coin or token. With that, below are the top cryptos to watch this week. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bitcoin (BTC-USD) Up trend Technical graph of Bitcoin (BTC-USD) in futuristic concept, BITI ETF is a Bitcoin short fund for investors betting against Bitcoin. Source: Sittipong Phokawattana / Shutterstock.com As was the case last week, Bitcoin ( BTC-USD ) finds itself struggling for traction. Over the past 24 hours heading into early Tuesday morning, BTC gained just under 1%. However, this print overlooks the more worrying data point of the coin dropping below $26,000. At the moment, BTC trades hand at around $25,900. To be sure, much of the mainstream media attention focuses on the drama associated with the approval of a spot Bitcoin ETF . Should a green light be given, I’m certain that BTC will at least temporarily skyrocket. However, where it goes from there is anyone’s guess. After all, it’s not the first time that a supposed legal victory failed to yield sustained gains. Fundamentally, investors of Bitcoin and other cryptos should be concerned about the viability of the retail investment community. For example, with Americans’ credit card debt shooting over the $1 trillion mark, an economic slowdown leaves many investors vulnerable.\xa0Especially right now, the ecosystem doesn’t seem favorable for risk-on assets like virtual currencies. Therefore, I would maintain vigilance. Ethereum (ETH-USD) The ethereum logo on coins Source: shutterstock The number two cryptocurrency by market capitalization, Ethereum ( ETH-USD ) finds itself sadly on familiar ground. Right now, ETH prints a value of $1,585, thus moving in the wrong direction. In the past 24 hours, ETH dipped about 1.7%. Over the trailing one-week period, the popular digital asset fell 2%. Story continues As with Bitcoin above, Ethereum seeks an upside catalyst. What the difference is now is that time may be of the essence. Roughly speaking, ETH gained around 32% of market value since the beginning of the year. However, in the past 30 days, ETH fell more than 14%. Presumably, the bulls need to start picking up the slack lest the bears smell blood. Further, my hesitation centers on the aforementioned options trading dynamic impacting blockchain miners. If cryptos fall, the mining sector generally plunges as well. So, it appears that the options traders – the smart money – recognize this risk; hence, the spiked IV in the extreme-low strike prices.\xa0Of course, as a longtime believer in cryptos, I want to express better news. However, the data must take priority over narratives. Tether (USDT-USD) A concept token for the Tether cryptocurrency. Source: DIAMOND VISUALS / Shutterstock.com For those new to cryptos, Tether ( USDT-USD ) is – so far anyway – the most valuable stablecoin. This type of cryptocurrency is pegged to a hard (fiat) currency, usually the dollar as is the case with Tether. Therefore, investors who acquire USDT units usually don’t do so for capital gains purposes (aside from complex arbitrage trading schemes). Rather, it’s a form of convenience and wealth “storage.” Basically, Tether is the oil that keeps the blockchain engine running smoothly. By holding wealth in USDT, market participants can advantage of opportunities within various cryptos quickly and conveniently. With ample volume and velocity, the ratio between USDT and the U.S. dollar should be one-to-one. If minor blips occur, they should be miniscule. However, the problem is that for the last several weeks, I’ve noticed on multiple occasions that Tether traded conspicuously below the 1:1 ratio. While I don’t anticipate a complete failure of the peg, I’m worried about the implied lack of confidence.\xa0Again, I’m not necessarily worried about a crypto bank run. Still, you want to take the time here to manage your risk exposure accordingly. XRP (XRP-USD) Coin cryptocurrency ripple on the background of a stack of coins Source: Shutterstock Once the promising name among cryptos thanks to its positive regulatory nod, XRP ( XRP-USD ) finds itself back in the weeds. By every practical measure, XRP has lost all the gains associated with becoming the virtual currency with legal precedence, stemming from creator Ripple Labs’ generally favorable courtroom result. At the moment, XRP lost about 3.5% in the trailing 24 hours. In the trailing seven days, the crypto dropped more than 5%. Priced at 47.9 cents, it’s only a bit higher than the 47.1 cent price that XRP started off at for the memorable July 13 session. Now, with XRP trading below its 200 DMA (51 cents) and 50 DMA (58 cents), circumstances seem far less auspicious. One inkling of optimism is that strong horizontal support exists at approximately the 47.5-cent line. However, it’s a double-edged sword. If XRP fails to move higher from where it presently sits, the bears could come out in full force due to the ugly technical profile.\xa0As has been the case for the last few weeks, let the buyer beware. Cardano (ADA-USD) The Cardano token with other gold and silver tokens in the background. Source: Shutterstock When it comes to assessing Cardano ( ADA-USD ), all I can think of is that it’s flirting with danger. Ranking among the most popular alternative cryptos or altcoins, ADA commands a cult-like status. Still, that hasn’t been enough to bolster ADA. Currently, the coin trades hands at 24.7 cents, down roughly a third of a percent in the past 24 hours. In the trailing week, it slipped more than 3%. Technically, Cardano will likely suffer great difficulty in generating credibility. Following a flat-to-negative performance since the start of 2023, ADA tanked roughly 51% in the past 365 days. Unfortunately, investors may lose confidence, given the lack of upside impetus. In addition, volume trends have gradually declined since January. Not surprisingly, ADA trades below its 50 DMA (28 cents) and 200 DMA (33 cents). One bit of good news is that ADA trades just above horizontal support, which lies at about 24.5 cents. However, the bulls need to show some resilience here. The additional downside could erode what little confidence remains in Cardano, making it one of the riskiest cryptos. Solana (SOL-USD) Macro shot of a physical coin from the cryptocurrency Solana (SOL-USD) Source: Rcc_Btn / Shutterstock.com Another promising name among cryptos that has turned into a nightmare, Solana ( SOL-USD ) once held promise as an Ethereum killer. Basically, the underlying blockchain technology promised to facilitate the functionalities of the ETH network but with key improvements; notably, greater scalability and far lower transactional costs or fees. Then, in 2022 the rise of interest rates happened and SOL has not looked the same since. In the past 24 hours, SOL dipped about a third of a percent. In the trailing one-week period, the token gave up 5.5% of its market value. Worryingly, Solana – which trades hands at $18.21 at the time of writing – sits conspicuously below its 200 DMA ($21.08) and its 50 DMA ($21.97). Even worse, the price action is hanging in no-man’s-land. Looking at the chart, an investor can visually spot a horizontal support line at approximately $21. Dropping below this point will almost surely attract the bears.\xa0Sadly, similar to other virtual currencies, volume faded considerably in recent weeks. Without much interest, investors may want to head to the sidelines. Dogecoin (DOGE-USD) One Golden Dogecoin Coin on keyboard, Meme coins to sell Source: Zarko Prusac / Shutterstock.com While some might erroneously view Dogecoin ( DOGE-USD ) as a scam, it continues to defy gravity. Thanks to its loyal army of advocates, one can never really count out DOGE. Just when you think the meme coin suffered a fatal blow, it jumps right back into the discussion. It’s basically the Fast and Furious franchise of cryptos. However, rabid retail support can only go so far. While Dogecoin gained about half a percent in the trailing 24 hours, it fell almost 3% in the trailing seven days. Still, the good news is that with a market cap of nearly $8.7 billion, it ranks number seven in terms of the most valuable blockchain assets. Overall, though, there’s little to celebrate about Dogecoin. For one thing, the volume level in September has fallen down to bare bones. This dynamic reflects a broader lack of interest, akin to what we’re seeing in the blockchain mining stocks. Second, DOGE at 6.1 cents trades noticeably below its 50 DMA (6.9 cents) and 200 DMA (7.3 cents). Amid rising skepticism, now might not be an ideal time to speculate on cryptos, especially the riskiest examples. On the date of publication, Josh Enomoto held a LONG position in\xa0BTC, ETH, USDT, and XRP. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 7 Cryptos to Watch as the Blockchain Slogs Through appeared first on InvestorPlace . View comments', 'Bitcoin rose on Wednesday morning in Asia to near US$26,000, after sinking below the key support level of US$25,000 on Tuesday for the first time in three months. Ether also bounced back to near US$1,600 as all other top 10 non-stablecoin cryptocurrencies logged gains with Toncoin leading the winners with a 24-hour surge of over 12%. The rally followed the recent panic sell-off over an incoming liquidation from collapsed crypto exchange FTX, which is expected to unload its US$3.4 billion crypto holdings by the end of the year. U.S. stock futures traded flat after Wall Street closed lower on Tuesday amid oil price concerns.\nBitcoin rose 3.02% in the last 24 hours to US$25,867.44 as of 07:30 a.m. in Hong Kong, adding 0.36% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency briefly touched an almost three-month-low of US$24,930.30 and bounced back to a high of US$26,451.94 on Tuesday.\nEther saw a similar rebound, rising 3.10% to US$1,595.00 but lost 2.28% in the past seven days. The second top crypto reached a 24-hour high of US$1,619.11 on Tuesday.\nThe current crypto market sentiment echoes “the late-stage bear market from 2015 and 2019,” as “a sustained period of poor momentum has pushed the fear and greed index to a nine-month low,” crypto research firm K33 wrote in areportTuesday.\n“The worsening sentiment originates from anticipated sell-side pressure related to FTX balances of US$560 million BTC, US$192 million ETH, and US$1.16 billion SOL,” wrote K33. “The market also expects further sellside pressure from Mt. Gox’s trustees and U.S. Silk Road Bitcoins. The schedule and structure of these potential sell-side flows are unknown but have all been decisive forces in hammering an already pressured sentiment.”\nFTX, whichwent into bankruptcyin November 2022, may receive court approval on Wednesday to sell its crypto holding that totals around US$3.4 billion. However, the recent sell-off ahead of the liquidation could be an overreaction, according to Greg Moritz, co-founder and chief operating officer of crypto hedge fund Alt Tab Capital.\n“FTX, having an interest in acquiring the highest price for its assets, will likely go about the liquidation in an orderly and rational way that minimizes the effect on market pricing,” said Moritiz in an emailed comment.\n“Overall, the actual impact of the potential FTX liquidation on the crypto market is likely to be quite small and take place over months, however, we already have downward pressure on many coins as a result of the proposal,” Moritz added. “This is primarily due to the retail crypto market not fully understanding FTX’s proposal and reacting based on fear rather than logic.\xa0 When that happens, it tends to create attractive buying opportunities for savvy investors with a long-term focus.”\nAll other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. Toncoin led the winners, which rose 12.49% to US$1.84 and gained 3.73% for the week.\nToncoin is the native token of the Open Network (TON), a blockchain-based, decentralized network originally developed by messaging app Telegram, whose price has jumped over 30% in the past month. TON is set to have apresentationwith Telegram at the ongoing Token2049 event in Singapore on Wednesday, with the theme: “Transforming Telegram to Web3 with Toncoin.”\nThe total crypto market capitalization gained 2.54% in the past 24 hours to US$1.03 trillion, as trading volume rose 9.22% to US$35.33 billion.\nU.S. stock futures were trading flat as of 09:00 a.m. in Hong Kong. Both Dow futures and S&P 500 futures inched 0.01% lower, while Nasdaq futures edged up 0.05%. All three major U.S. indexes booked losses during trading hours on Tuesday, with Nasdaq leading with a 1.04% drop.\nThe main stock indexes in Asia were mixed as of 09:30 a.m. in Hong Kong. China’s Shanghai Composite and Hong Kong’s Hang Seng moved up, while South Korea’s Kospi and Japan’s Nikkei 225 logged losses.\nThe U.S.-based computer technology firm Oracle Corp. spearheaded the Wall Street decline on Tuesday, whose stock price closed the day 13.50% lower. The company on Mondayreportedits first-quarter revenue of the fiscal year 2024 and projection for second-quarter earnings, which were bothbelow the expectationsas the demand for cloud computing slows down.\nFollowing Oracle, cloud-heavy technology firms Microsoft and Amazon also booked losses on Tuesday, falling 1.83% and 1.31% respectively.\nOn the inflation front, the U.S. consumer price index (CPI) for August will be released on Wednesday, with analystsexpectingan acceleration in annual inflation rate.\nAn annual growth in core CPI of over 4.5% can indicate a sticker-than-expected inflation, Tony Sycamore, a market analyst at investment advisor IG Australia Pty, told Bloomberg on Wednesday, which could make the S&P 500 “board the express train back to the August low 4,350/30 area.”\nMeanwhile, rising oil prices are adding to the inflation concerns, with the benchmark Brent Crude closing 1.6% higher at US$92.06 on Tuesday, the highest level since November 2022.\n“People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November”, which could make the Federal Reserve raise interest rates again, Thomas Hayes, chairman at equity firm Great Hill Capital LLC., said, according to a WednesdayReutersreport.\nTheCME FedWatch Toolpredicts a 93% chance the central bank will maintain the current rate unchanged in September, which is currently in the range between 5.25% and 5.50%. It gives a 56.8% chance for another pause in November, down from 57.6% on Tuesday.\n(Updates with equity section.)', 'Bitcoin rose on Wednesday morning in Asia to near US$26,000, after sinking below the key support level of US$25,000 on Tuesday for the first time in three months. Ether also bounced back to near US$1,600 as all other top 10 non-stablecoin cryptocurrencies logged gains with Toncoin leading the winners with a 24-hour surge of over 12%. The rally followed the recent panic sell-off over an incoming liquidation from collapsed crypto exchange FTX, which is expected to unload its US$3.4 billion crypto holdings by the end of the year. U.S. stock futures traded flat after Wall Street closed lower on Tuesday amid oil price concerns.\nBitcoin rose 3.02% in the last 24 hours to US$25,867.44 as of 07:30 a.m. in Hong Kong, adding 0.36% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency briefly touched an almost three-month-low of US$24,930.30 and bounced back to a high of US$26,451.94 on Tuesday.\nEther saw a similar rebound, rising 3.10% to US$1,595.00 but lost 2.28% in the past seven days. The second top crypto reached a 24-hour high of US$1,619.11 on Tuesday.\nThe current crypto market sentiment echoes “the late-stage bear market from 2015 and 2019,” as “a sustained period of poor momentum has pushed the fear and greed index to a nine-month low,” crypto research firm K33 wrote in areportTuesday.\n“The worsening sentiment originates from anticipated sell-side pressure related to FTX balances of US$560 million BTC, US$192 million ETH, and US$1.16 billion SOL,” wrote K33. “The market also expects further sellside pressure from Mt. Gox’s trustees and U.S. Silk Road Bitcoins. The schedule and structure of these potential sell-side flows are unknown but have all been decisive forces in hammering an already pressured sentiment.”\nFTX, whichwent into bankruptcyin November 2022, may receive court approval on Wednesday to sell its crypto holding that totals around US$3.4 billion. However, the recent sell-off ahead of the liquidation could be an overreaction, according to Greg Moritz, co-founder and chief operating officer of crypto hedge fund Alt Tab Capital.\n“FTX, having an interest in acquiring the highest price for its assets, will likely go about the liquidation in an orderly and rational way that minimizes the effect on market pricing,” said Moritiz in an emailed comment.\n“Overall, the actual impact of the potential FTX liquidation on the crypto market is likely to be quite small and take place over months, however, we already have downward pressure on many coins as a result of the proposal,” Moritz added. “This is primarily due to the retail crypto market not fully understanding FTX’s proposal and reacting based on fear rather than logic.\xa0 When that happens, it tends to create attractive buying opportunities for savvy investors with a long-term focus.”\nAll other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. Toncoin led the winners, which rose 12.49% to US$1.84 and gained 3.73% for the week.\nToncoin is the native token of the Open Network (TON), a blockchain-based, decentralized network originally developed by messaging app Telegram, whose price has jumped over 30% in the past month. TON is set to have apresentationwith Telegram at the ongoing Token2049 event in Singapore on Wednesday, with the theme: “Transforming Telegram to Web3 with Toncoin.”\nThe total crypto market capitalization gained 2.54% in the past 24 hours to US$1.03 trillion, as trading volume rose 9.22% to US$35.33 billion.\nU.S. stock futures were trading flat as of 09:00 a.m. in Hong Kong. Both Dow futures and S&P 500 futures inched 0.01% lower, while Nasdaq futures edged up 0.05%. All three major U.S. indexes booked losses during trading hours on Tuesday, with Nasdaq leading with a 1.04% drop.\nThe main stock indexes in Asia were mixed as of 09:30 a.m. in Hong Kong. China’s Shanghai Composite and Hong Kong’s Hang Seng moved up, while South Korea’s Kospi and Japan’s Nikkei 225 logged losses.\nThe U.S.-based computer technology firm Oracle Corp. spearheaded the Wall Street decline on Tuesday, whose stock price closed the day 13.50% lower. The company on Mondayreportedits first-quarter revenue of the fiscal year 2024 and projection for second-quarter earnings, which were bothbelow the expectationsas the demand for cloud computing slows down.\nFollowing Oracle, cloud-heavy technology firms Microsoft and Amazon also booked losses on Tuesday, falling 1.83% and 1.31% respectively.\nOn the inflation front, the U.S. consumer price index (CPI) for August will be released on Wednesday, with analystsexpectingan acceleration in annual inflation rate.\nAn annual growth in core CPI of over 4.5% can indicate a sticker-than-expected inflation, Tony Sycamore, a market analyst at investment advisor IG Australia Pty, told Bloomberg on Wednesday, which could make the S&P 500 “board the express train back to the August low 4,350/30 area.”\nMeanwhile, rising oil prices are adding to the inflation concerns, with the benchmark Brent Crude closing 1.6% higher at US$92.06 on Tuesday, the highest level since November 2022.\n“People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November”, which could make the Federal Reserve raise interest rates again, Thomas Hayes, chairman at equity firm Great Hill Capital LLC., said, according to a WednesdayReutersreport.\nTheCME FedWatch Toolpredicts a 93% chance the central bank will maintain the current rate unchanged in September, which is currently in the range between 5.25% and 5.50%. It gives a 56.8% chance for another pause in November, down from 57.6% on Tuesday.\n(Updates with equity section.)', 'Bitcoin rose on Wednesday morning in Asia to near US$26,000, after sinking below the key support level of US$25,000 on Tuesday for the first time in three months. Ether also bounced back to near US$1,600 as all other top 10 non-stablecoin cryptocurrencies logged gains with Toncoin leading the winners with a 24-hour surge of over 12%. The rally followed the recent panic sell-off over an incoming liquidation from collapsed crypto exchange FTX, which is expected to unload its US$3.4 billion crypto holdings by the end of the year. U.S. stock futures traded flat after Wall Street closed lower on Tuesday amid oil price concerns. Bitcoin nears US$26,000; Overreactions towards FTX liquidation plan? Bitcoin rose 3.02% in the last 24 hours to US$25,867.44 as of 07:30 a.m. in Hong Kong, adding 0.36% for the week, according to CoinMarketCap data. The world’s largest cryptocurrency briefly touched an almost three-month-low of US$24,930.30 and bounced back to a high of US$26,451.94 on Tuesday. Ether saw a similar rebound, rising 3.10% to US$1,595.00 but lost 2.28% in the past seven days. The second top crypto reached a 24-hour high of US$1,619.11 on Tuesday. The current crypto market sentiment echoes “the late-stage bear market from 2015 and 2019,” as “a sustained period of poor momentum has pushed the fear and greed index to a nine-month low,” crypto research firm K33 wrote in a report Tuesday. “The worsening sentiment originates from anticipated sell-side pressure related to FTX balances of US$560 million BTC, US$192 million ETH, and US$1.16 billion SOL,” wrote K33. “The market also expects further sellside pressure from Mt. Gox’s trustees and U.S. Silk Road Bitcoins. The schedule and structure of these potential sell-side flows are unknown but have all been decisive forces in hammering an already pressured sentiment.” FTX, which went into bankruptcy in November 2022, may receive court approval on Wednesday to sell its crypto holding that totals around US$3.4 billion. However, the recent sell-off ahead of the liquidation could be an overreaction, according to Greg Moritz, co-founder and chief operating officer of crypto hedge fund Alt Tab Capital. “FTX, having an interest in acquiring the highest price for its assets, will likely go about the liquidation in an orderly and rational way that minimizes the effect on market pricing,” said Moritiz in an emailed comment. “Overall, the actual impact of the potential FTX liquidation on the crypto market is likely to be quite small and take place over months, however, we already have downward pressure on many coins as a result of the proposal,” Moritz added. “This is primarily due to the retail crypto market not fully understanding FTX’s proposal and reacting based on fear rather than logic.\xa0 When that happens, it tends to create attractive buying opportunities for savvy investors with a long-term focus.” Story continues All other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. Toncoin led the winners, which rose 12.49% to US$1.84 and gained 3.73% for the week. Toncoin is the native token of the Open Network (TON), a blockchain-based, decentralized network originally developed by messaging app Telegram, whose price has jumped over 30% in the past month. TON is set to have a presentation with Telegram at the ongoing Token2049 event in Singapore on Wednesday, with the theme: “Transforming Telegram to Web3 with Toncoin.” The total crypto market capitalization gained 2.54% in the past 24 hours to US$1.03 trillion, as trading volume rose 9.22% to US$35.33 billion. U.S. stock futures flat before CPI release Image: Getty Images U.S. stock futures were trading flat as of 09:00 a.m. in Hong Kong. Both Dow futures and S&P 500 futures inched 0.01% lower, while Nasdaq futures edged up 0.05%. All three major U.S. indexes booked losses during trading hours on Tuesday, with Nasdaq leading with a 1.04% drop. The main stock indexes in Asia were mixed as of 09:30 a.m. in Hong Kong. China’s Shanghai Composite and Hong Kong’s Hang Seng moved up, while South Korea’s Kospi and Japan’s Nikkei 225 logged losses. The U.S.-based computer technology firm Oracle Corp. spearheaded the Wall Street decline on Tuesday, whose stock price closed the day 13.50% lower. The company on Monday reported its first-quarter revenue of the fiscal year 2024 and projection for second-quarter earnings, which were both below the expectations as the demand for cloud computing slows down. Following Oracle, cloud-heavy technology firms Microsoft and Amazon also booked losses on Tuesday, falling 1.83% and 1.31% respectively. On the inflation front, the U.S. consumer price index (CPI) for August will be released on Wednesday, with analysts expecting an acceleration in annual inflation rate. An annual growth in core CPI of over 4.5% can indicate a sticker-than-expected inflation, Tony Sycamore, a market analyst at investment advisor IG Australia Pty, told Bloomberg on Wednesday, which could make the S&P 500 “board the express train back to the August low 4,350/30 area.” Meanwhile, rising oil prices are adding to the inflation concerns, with the benchmark Brent Crude closing 1.6% higher at US$92.06 on Tuesday, the highest level since November 2022. “People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November”, which could make the Federal Reserve raise interest rates again, Thomas Hayes, chairman at equity firm Great Hill Capital LLC., said, according to a Wednesday Reuters report. The CME FedWatch Tool predicts a 93% chance the central bank will maintain the current rate unchanged in September, which is currently in the range between 5.25% and 5.50%. It gives a 56.8% chance for another pause in November, down from 57.6% on Tuesday. (Updates with equity section.) View comments', 'Crypto markets had a shaky start to the week ahead of US inflation data and potential asset sales by the failed FTX crypto exchange. Most digital assets ranked among the top 20 by market capitalizations slumped between 2% and 4% on Monday, with Bitcoin dropping 2% to $25,000 and Ether tumbling 3.5% to $1,560. Solana (SOL), the largest cryptocurrency on FTX’s balance sheet, shed 9% over the past seven days. Other notable FTX holdings Ripple (XRP), Aptos (APT), and BitDAO (BIT) are similarly down 6.7%, 8.7%, and 9.5% respectively. A U.S. court is expected to deliver a verdict on Sept. 13 regarding FTX’s proposed plans to begin selling assets. For comparison, most top ten cryptocurrencies pulled back by between 4% and 5% over the same period. The US Bureau of Labor Statistics will release inflation figures for August on Wednesday morning, and investors will be looking at the data to try and predict the Fed’s next rate decision on Sept. 20. On Monday, FTX submitted a court filing breaking down the crypto holdings of FTX, FTX.US, and its sister trading firm, Alameda Holdings, as of Aug. 31. SOL is the largest position at $1.16B, followed by $597M worth of BTC and WBTC, $229M in ETH and WETH, $120 million in USDT, and $119 million of XRP. Holdings of $49M in BitDAO (BIT) and $46M of Stargate (STG) round out FTX’s ten largest positions — making up 72% of FTX’s $3.4B digital asset portfolio. Fortunately for SOL investors, the massive tranche of tokens is subject to a vesting schedule, meaning the tokens will steadily enter supply over the coming years. Roughly 34.5M SOL will unlock monthly until 2028, with an additional 12M SOL unlocking each month until Sept. 2027, according to Xangle. A final tranche of 7.5M SOL can be sold in 2025. DeFi Downtrend Persists The combined capitalization of DeFi assets slumped 6.8% over the weekend, according to CoinGecko. The majority of the sector’s top tokens by market cap lost value over the past seven days, including 12 assets with a loss of more than 7.5%. Five tokens bucked the trend with double-digit gains, including Tellor (TRB), Flamingo (FLM), and Perpetual Protocol (PERP) with rallies of more than 40%. Story continues DeFi Market Cap The total value locked (TVL) in DeFi assets also continues to decline, with TVL falling $2B to $36.5B over the past two weeks. DeFi TVL is now down 31% since mid-April. Layer 2 Throughput Hits New Record Ethereum’s L2 ecosystem continues to grow despite the downtrend, with combined Layer 2 throughput posting an all-time high of 55.4 transactions per second (TPS) on Sept. 10, according to L2beat. While the milestone came one day after Starknet posted a high of 10 TPS amid renewed airdrop speculation , L2 activity is up across the board. The throughput of the top eight Layer 2s is each up compared to one week ago, with Base, Immutable X, Mantle, and dYdX all up more than 40%. Layer 2 Throughput Table Read the original post on The Defiant', 'Crypto markets had a shaky start to the week ahead of US inflation data and potential asset sales by the failed FTX crypto exchange.\nMost digital assets ranked among the top 20 by market capitalizations slumped between 2% and 4% on Monday, with Bitcoin dropping 2% to $25,000 and Ether tumbling 3.5% to $1,560.\nSolana (SOL), the largest cryptocurrency on FTX’s balance sheet, shed 9% over the past seven days. Other notable FTX holdings Ripple (XRP), Aptos (APT), and BitDAO (BIT) are similarly down 6.7%, 8.7%, and 9.5% respectively. A U.S. court is expected to deliver averdicton Sept. 13 regarding FTX’s proposed plans to begin selling assets.\nFor comparison, most top ten cryptocurrencies pulled back by between 4% and 5% over the same period. The US Bureau of Labor Statistics will release inflation figures for August on Wednesday morning, and investors will be looking at the data to try and predict the Fed’s next rate decision on Sept. 20.\nOn Monday, FTX submitted acourt filingbreaking down the crypto holdings of FTX, FTX.US, and its sister trading firm, Alameda Holdings, as of Aug. 31.\nSOL is the largest position at $1.16B, followed by $597M worth of BTC and WBTC, $229M in ETH and WETH, $120 million in USDT, and $119 million of XRP. Holdings of $49M in BitDAO (BIT) and $46M of Stargate (STG) round out FTX’s ten largest positions — making up 72% of FTX’s $3.4B digital asset portfolio.\nFortunately for SOL investors, the massive tranche of tokens is subject to a vesting schedule, meaning the tokens will steadily enter supply over the coming years. Roughly 34.5M SOL will unlock monthly until 2028, with an additional 12M SOL unlocking each month until Sept. 2027, according to Xangle. A final tranche of 7.5M SOL can be sold in 2025.\nThe combined capitalization of DeFi assets slumped 6.8% over the weekend, according to CoinGecko.\nThe majority of the sector’s top tokens by market cap lost value over the past seven days, including 12 assets with a loss of more than 7.5%. Five tokens bucked the trend with double-digit gains, including Tellor (TRB), Flamingo (FLM), and Perpetual Protocol (PERP) with rallies of more than 40%.\nThe total value locked (TVL) in DeFi assets also continues to decline, with TVL falling $2B to $36.5B over the past two weeks. DeFi TVL is now down 31% since mid-April.\nEthereum’s L2 ecosystem continues to grow despite the downtrend, with combined Layer 2 throughput posting an all-time high of 55.4 transactions per second (TPS) on Sept. 10, according to L2beat.\nWhile the milestone came one day after Starknet posted a high of 10 TPS amid renewedairdrop speculation, L2 activity is up across the board. The throughput of the top eight Layer 2s is each up compared to one week ago, with Base, Immutable X, Mantle, and dYdX all up more than 40%.\nRead the original post on The Defiant', 'Hong Kong-based cryptocurrency exchange CoinEx Global suffered a security breach on Tuesday, resulting in an estimated loss of US$43 million in cryptocurrencies.\nSee related article:Crypto in the time of cockroaches\n• The exchange is stillassessingthe full extent of lost crypto assets in the exploit but said on Wednesday morning that it identified a second set of suspicious wallet addresses linked to the breach, which siphoned off tokens such as Ether, XRP, Solana, Kadena and Dagger.\n• Before CoinEx’s latest update, Blockchain security firm PeckShieldsaidon X (formerly Twitter) on Wednesday estimated the exchange’s loss to be around US$43 million. The first set of addresses linked to the hackidentifiedby CoinEx stole Ether, Bitcoin and Tron from the platform.\n• CoinEx saida noticeshared on its X account on Tuesday following the attack that all user assets are safe and secure. The exchange has suspended deposit and withdrawal services and assured that affected users will receive full compensation for any losses caused by the hack.\n• Hackers stole more thanUS$3.8 billionin cryptocurrencies last year, according to blockchain forensics firm Chainalysis. Out of that amount,North Korea-backed cyber actors hacked US$1.7 billion.\nSee related article:Crypto hackers stole record US$3.8 bln in 2022, mostly from DeFi and cross-chain bridges: Chainalysis', 'Franklin Templeton Files for Spot Bitcoin ETF\nFranklin Templeton, a well-known asset manager with $1.4 trillion in assets under management, has filed for a spotBitcoinexchange-traded fund (ETF). On Tuesday, the corporation applied to the Securities and Exchange Commission (SEC) for approval of "The Franklin Bitcoin ETF" as part of the Franklin Templeton Digital Holdings Trust.\nThe ETF\'s shares would be listed and traded on the Cboe BZX Exchange, with Coinbase, the largest cryptocurrency exchange in the United States, serving as the fund\'s custodian, according to the application. Other Bitcoin ETF candidates have also chosen Coinbase as a custodian and surveillance-sharing partner.\nMultiple spot Bitcoin ETF applications are now being reviewed by the SEC, including one from BlackRock, the world\'s largest asset manager. TheSEC postponed its decision on numerous Bitcoin ETF proposals, including those from BlackRock and WisdomTree, last month. The agency\'s next deadline for responding to an application is October 16, however it has the flexibility to postpone its decision even later.\nThe race to develop a Bitcoin ETF has gotten a lot of attention since it would give a regulated and easy way for institutional and ordinary investors to obtain exposure to Bitcoin price swings without physically holding the cryptocurrency.', 'Franklin Templeton Files for Spot Bitcoin ETF\nFranklin Templeton, a well-known asset manager with $1.4 trillion in assets under management, has filed for a spotBitcoinexchange-traded fund (ETF). On Tuesday, the corporation applied to the Securities and Exchange Commission (SEC) for approval of "The Franklin Bitcoin ETF" as part of the Franklin Templeton Digital Holdings Trust.\nThe ETF\'s shares would be listed and traded on the Cboe BZX Exchange, with Coinbase, the largest cryptocurrency exchange in the United States, serving as the fund\'s custodian, according to the application. Other Bitcoin ETF candidates have also chosen Coinbase as a custodian and surveillance-sharing partner.\nMultiple spot Bitcoin ETF applications are now being reviewed by the SEC, including one from BlackRock, the world\'s largest asset manager. TheSEC postponed its decision on numerous Bitcoin ETF proposals, including those from BlackRock and WisdomTree, last month. The agency\'s next deadline for responding to an application is October 16, however it has the flexibility to postpone its decision even later.\nThe race to develop a Bitcoin ETF has gotten a lot of attention since it would give a regulated and easy way for institutional and ordinary investors to obtain exposure to Bitcoin price swings without physically holding the cryptocurrency.', '$1.4 Trillion Asset Manager Franklin Templeton Files for Spot Bitcoin ETF Franklin Templeton Files for Spot Bitcoin ETF Franklin Templeton, a well-known asset manager with $1.4 trillion in assets under management, has filed for a spot Bitcoin exchange-traded fund (ETF). On Tuesday, the corporation applied to the Securities and Exchange Commission (SEC) for approval of "The Franklin Bitcoin ETF" as part of the Franklin Templeton Digital Holdings Trust. The ETF\'s shares would be listed and traded on the Cboe BZX Exchange, with Coinbase, the largest cryptocurrency exchange in the United States, serving as the fund\'s custodian, according to the application. Other Bitcoin ETF candidates have also chosen Coinbase as a custodian and surveillance-sharing partner. Multiple spot Bitcoin ETF applications are now being reviewed by the SEC, including one from BlackRock, the world\'s largest asset manager. The SEC postponed its decision on numerous Bitcoin ETF proposals , including those from BlackRock and WisdomTree, last month. The agency\'s next deadline for responding to an application is October 16, however it has the flexibility to postpone its decision even later. The race to develop a Bitcoin ETF has gotten a lot of attention since it would give a regulated and easy way for institutional and ordinary investors to obtain exposure to Bitcoin price swings without physically holding the cryptocurrency. View comments', "Chicago, IL – September 13, 2023 – Today, Zacks Investment Ideas feature highlights Coinbase COIN, MicroStrategy MSTR, BlackRock BLK, Marathon Digital MARA and ProShares Bitcoin Strategy ETF BITO.\nThe revolutionary invention of Bitcoin came from a humble 2008 white paper by a pseudonymous person or people named Satoshi Nakamoto. The idea was simple yet powerful – create a digital, decentralized, secure network resistant to a single point of failure. Through the years, Bitcoin has seen some major tests, including (but not limited to):\nBitcoin went live slightly after the largest recession in more than 100 years.\nEarly in Bitcoin’s existence, M
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-13
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $509,750,545,775
- Hash Rate: 395697272.1174433
- Transaction Count: 512446.0
- Unique Addresses: 802393.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.41
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. The SOL token saw the biggest gain in the top 10, following its new partnership with e-commerce giant Shopify. See related article: Weekly Market Wrap: Bitcoin falls below US$26,000 following Evergrande’s bankruptcy SOL leads winners as Bitcoin, Ether rise with most top 10 cryptos Solana’s SOL token rose 4.33% in the 24 hours to 4:30 in Hong Kong to US$20.79, as the day’s biggest gainer in the top 10, after Solana announced partnering Shopify to offer crypto payments with no transaction fees on the e-commerce platform via Solana Pay, a peer-to-peer payments protocol built on the blockchain. Despite the good news, SOL remained near a six-week low. 1xXOwDNYmLP2JEUlCHo5VVb3VZmh22uzK3R4jdRdglCkfh7MsIJ Umq sg qbr8WhQbM3ZSJU18REtsTFAUEITJ2UCVDwe378UujyTOBqSdnR04J966JFMQPiNpuLdeXg7jX 6XvFqriZBgZosXFPk Bitcoin was little changed during afternoon trading in Asia, changing hands at US$26,430 as of 4:30 p.m. in Hong Kong after it briefly rose to the US$26,769 mark earlier today. Despite today’s small rally, Lucas Kiely, the chief investment officer of digital asset platform Yield App, said that returning to US$25,000 remained a possibility. “US$25,000 is the level where BlackRock filed for a spot Bitcoin ETF. There is support at that level. Investors will be spooked if Bitcoin falls below that level. After that level, Bitcoin could fall to approximately US$19,870, which represents the level where Silicon Valley Bank failed,” wrote Kiely, in a statement shared with Forkast. “When SVB failed, Bitcoin rocketed to US$31,000 before moving sideways. BlackRock and other firms then made their Bitcoin ETF announcements, and Bitcoin ripped again.” Ether rose 0.59% during afternoon trading in Asia to US$1,671 bringing its weekly losses to 6.92%. Tron’s (TRX) token rose 1.73% in the past 24 hours to US$0.077, bouncing back from a two-month low of US$0.073 on June 25. Total crypto market capitalization over the past 24 hours rose 1.45% to US$1.07 trillion while market volume decreased 8.66% to US$32.44 billion, according to CoinMarketCap data. OpenSea’s decision continues to weigh on NFT market The Forkast 500 NFT index fell 1.12% to 2,272.28 points in the 24 hours to 4:30 p.m. in Hong Kong and 7.43% in the past week. “Overall the OpenSea royalty policy is still having an impact on the market. Transactions have been declining, total sales are down and average sales price is up,” said Yehudah Petscher, NFT strategist at Forkast Labs, referring to OpenSea ’s decision to cut creator royalty fees. “The higher average sales price lately indicates expensive NFTs being sold, but these are typically at a loss these days.” Story continues Bored Ape #8585 was sold for US$255,000 on Sunday, at a loss of over US$777,000 compared to its purchasing price of US$1.03 million a year ago. Ethereum ’s 24-hour non-fungible token sales rose 1.63% to US$8.51 million, as sales for the largest Ethereum-based collection, the Bored Ape Yacht Club , rose 3.89% to US$1.64 million. Sorare sales also rose 17.3% to US$537,421, making it the third largest NFT collection across all chains by 24-hour sales volume. CryptoPunks sales also increased 25.51%. DraftKings, a Polygon-based NFT project, fell to become the seventh-largest collection across all chains after its 24-hour sales volume fell 25.97%. Polygon’s 24-hour sales also declined 17.66%, while the Forkast POL NFT Composite was nearly flat for the day. Interest in Ordinals inscriptions also remained low, as 24-hour NFT sales on the Bitcoin network fell 12.04%. Nvidia earnings boost U.S. stock futures, Asian equities Image: elements.envato Major Asian equities rose as of 4:30 p.m. in Hong Kong on Thursday, with Japan’s Nikkei 225 , Hong Kong’s Hang Seng Index , the Shenzhen Component and the Shanghai Composite all posting gains. Investors were optimistic after Chinese President Xi Jinping indicated in written remarks that the fundamentals of the Chinese economy remained strong despite minor headwinds at home and abroad. Most Major U.S. stock futures also rose for a third consecutive day, except the Dow Jones Industrial Average futures. The S&P 500 futures index and the tech-heavy Nasdaq-100 futures both posted gains. Nasdaq’s gains received a boost from Nvidia share prices that gained over 3% after the chipmaker’s earnings report showed that its data center revenue rising 171% year over year to US$10.32 billion. Nvidia’s earnings report also provided fuel for European equity markets, with Frankfurt’s DAX 40 gaining 1% and the pan-European STOXX 600 inching up 0.9% on Thursday. On the corporate front, investors are anticipating earnings reports from Intuit, the Royal Bank of Canada, Toronto Dominion Bank, NetEase and Marvell Technology, scheduled for later today. Investors are also looking ahead to key speeches by U.S. Fed Chair Jerome Powell and ECB President Christine Lagarde at the Jackson Hole Economic Symposium on Friday where central bank leaders will converge. See related article: Singapore’s Stablecoin framework, Australia’s crypto landscape & Binance shuts ‘Connect’ Updates with equities View comments...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin rose on Thursday morning in Asia to trade above the US$26,000 support level. Ether also rose to reclaim US$1,600. All other top 10 non-stablecoin cryptocurrencies moved up, with Solana spearheading the winners with a 24-hour rise of over 2%. The rally followed the U.S. consumer price index (CPI) release on Wednesday, which showed an acceleration in the annual inflation rate in August, while the core CPI that excludes food and energy prices posed a deceleration. U.S. stock futures traded higher, after Wall Street closed mixed on Wednesday.\nBitcoin rose 1.45% in the last 24 hours to US$26,251.64 as of 07:20 a.m. in Hong Kong, adding 1.88% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency reclaimed the US$26,000 support level on Wednesday afternoon and touched a daily high of over US$26,370 on early Thursday morning.\nDespite reclaiming the key US$26,000 line, Bitcoin’s momentum has seemingly weakened on Tuesday, but is “still strong enough to hold on to\xa0most of what was reclaimed after the bounce,” Keith Alan, co-founder of monitoring resource Material Indicators,tweetedon Wednesday.\nBitcoin still faces multiple technical resistances, including a “death cross” between the token’s 50-day and 200-day simple moving averages – which currentlysitat US$27,444 and US$27,670, as well as a 100-day moving average at US$28,292 that outlines the ceiling of the range, according to Alan onTuesday.\nEther also gained 0.95% to US$1,609.32 but still traded 1.64% lower in the past seven days. The second top crypto reached a 24-hour high of US$1,619.11 on Tuesday night.\nBitcoin and Ether prices briefly dipped on early Thursday morning in Asia after the bankrupt crypto exchange FTXreceivedcourt approval to sell its US$3.4 billion worth of crypto assets. The selling is capped at US$100 million per week, which can be extended to US$200 million.\nFTX’s current crypto holdings include US$1.16 billion in Solana’s SOL and US$560 million in Bitcoin, according to a Mondaycourt filing.\nDespite the incoming FTX liquidation, crypto prices remain largely stable. All other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. SOL led the winners, which rose 2.70% to US$18.43 but lost 6.70% for the week.\nVisawrotein a Tuesday research report that Solana blockchain “has attributes like high transaction throughput and scalability at low cost that help make it a good candidate for payments and Visa’s stablecoin settlement pilot.” The global payment giant announced apartnershipwith Solana on Sept. 5 to expand its USDC stablecoin settlement pilot to Solana’s blockchain\nThe total crypto market capitalization gained 1.07% in the past 24 hours to US$1.04 trillion, while trading volume dropped 21.30% to US$27.63 billion.\n“The recent stability could be attributed to steady CPI data, as is common amongst high-risk asset classes,” said John Stefanidis, CEO and co-founder of blockchain infrastructure DAO, Balthazar DAO.\n“Moreover, it seems the crypto market may have already priced in the potential ramifications of FTX’s approved sale of its substantial $3.4 billion crypto asset portfolio,” added Stefanidis.\nU.S. stock futures were trading higher as of 09:30 a.m. in Hong Kong, after Wall Street closed mixed on Wednesday, with the S&P 500 and Nasdaq Composite logging gains while the Dow Jones Industrial Average edging lower.\nMost main stock indexes in Asia rose on Thursday morning. Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all logged gains, while China’s Shanghai Composite inched down 0.03%.\nThe U.S.CPI releaseon Wednesday sent mixed information to the market. The inflation gauge rose 3.7% by year in August, an acceleration from 3.2% in July. The August CPI also booked a monthly gain of 0.6%, the biggest increase since June 2022.\nThe accelerated CPI growth aligns with analysts’ expectation, according toReuterson Thursday. Gasoline price, which jumped 10.6% in August, accounted for over 50% of the CPI growth in the month.\nMeanwhile, the core CPI — which excludes the volatile food and energy prices — rose 4.3% by year in August, a deceleration from 4.7% in July and the smallest reading since September 2021.\n“There is nothing here to seriously put a Fed rate hike on the table next week, but there is enough to keep the debate about the need for one more hike in 2023 alive,” Conrad DeQuadros, senior economic advisor at U.S.-based investment bank Brean Capital, told Reuters.\nGiven the mixed CPI data, J.P.Morgan Asset Management wrote on Wednesday it expects the Federal Reserve to make no further interest rate hike in this monetary tightening cycle.\n“Despite still rising oil prices in early September, we expect the impact of oil price spikes on CPI to be limited,” J.P.Morgan’s Chief Global Strategist David Kelly said in a note viewed byReuters, who expects the annual inflation rate will fall below the Fed’s long-term goal of 2% by the fourth quarter of 2024.\nTheCME FedWatch Toolpredicts a 97% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 58.4% chance for another pause in November, up from 56.8% on Wednesday.\nThe U.S. August producer price index (PPI) is set to be released on Thursday, with analystsexpectingthe data to rise 1.2% by year, up from 0.8% in July. The data will provide further insights into the Fed’s future monetary policies.\n(Updates with equity section, comment from Stefanidis.)', 'Bitcoin rose on Thursday morning in Asia to trade above the US$26,000 support level. Ether also rose to reclaim US$1,600. All other top 10 non-stablecoin cryptocurrencies moved up, with Solana spearheading the winners with a 24-hour rise of over 2%. The rally followed the U.S. consumer price index (CPI) release on Wednesday, which showed an acceleration in the annual inflation rate in August, while the core CPI that excludes food and energy prices posed a deceleration. U.S. stock futures traded higher, after Wall Street closed mixed on Wednesday. Bitcoin reclaims US$26,000; altcoins stable after bankrupt FTX received approval to liquidate Bitcoin rose 1.45% in the last 24 hours to US$26,251.64 as of 07:20 a.m. in Hong Kong, adding 1.88% for the week, according to CoinMarketCap data. The world’s largest cryptocurrency reclaimed the US$26,000 support level on Wednesday afternoon and touched a daily high of over US$26,370 on early Thursday morning. Despite reclaiming the key US$26,000 line, Bitcoin’s momentum has seemingly weakened on Tuesday, but is “still strong enough to hold on to\xa0most of what was reclaimed after the bounce,” Keith Alan, co-founder of monitoring resource Material Indicators, tweeted on Wednesday. Bitcoin still faces multiple technical resistances, including a “death cross” between the token’s 50-day and 200-day simple moving averages – which currently sit at US$27,444 and US$27,670, as well as a 100-day moving average at US$28,292 that outlines the ceiling of the range, according to Alan on Tuesday . Ether also gained 0.95% to US$1,609.32 but still traded 1.64% lower in the past seven days. The second top crypto reached a 24-hour high of US$1,619.11 on Tuesday night. Bitcoin and Ether prices briefly dipped on early Thursday morning in Asia after the bankrupt crypto exchange FTX received court approval to sell its US$3.4 billion worth of crypto assets. The selling is capped at US$100 million per week, which can be extended to US$200 million. Story continues FTX’s current crypto holdings include US$1.16 billion in Solana’s SOL and US$560 million in Bitcoin, according to a Monday court filing . Despite the incoming FTX liquidation, crypto prices remain largely stable. All other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. SOL led the winners, which rose 2.70% to US$18.43 but lost 6.70% for the week. Visa wrote in a Tuesday research report that Solana blockchain “has attributes like high transaction throughput and scalability at low cost that help make it a good candidate for payments and Visa’s stablecoin settlement pilot.” The global payment giant announced a partnership with Solana on Sept. 5 to expand its USDC stablecoin settlement pilot to Solana’s blockchain The total crypto market capitalization gained 1.07% in the past 24 hours to US$1.04 trillion, while trading volume dropped 21.30% to US$27.63 billion. “The recent stability could be attributed to steady CPI data, as is common amongst high-risk asset classes,” said John Stefanidis, CEO and co-founder of blockchain infrastructure DAO, Balthazar DAO. “Moreover, it seems the crypto market may have already priced in the potential ramifications of FTX’s approved sale of its substantial $3.4 billion crypto asset portfolio,” added Stefanidis. U.S. annual inflation rate accelerates Image: Getty Images U.S. stock futures were trading higher as of 09:30 a.m. in Hong Kong, after Wall Street closed mixed on Wednesday, with the S&P 500 and Nasdaq Composite logging gains while the Dow Jones Industrial Average edging lower. Most main stock indexes in Asia rose on Thursday morning. Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all logged gains, while China’s Shanghai Composite inched down 0.03%. The U.S. CPI release on Wednesday sent mixed information to the market. The inflation gauge rose 3.7% by year in August, an acceleration from 3.2% in July. The August CPI also booked a monthly gain of 0.6%, the biggest increase since June 2022. The accelerated CPI growth aligns with analysts’ expectation, according to Reuters on Thursday. Gasoline price, which jumped 10.6% in August, accounted for over 50% of the CPI growth in the month. Meanwhile, the core CPI — which excludes the volatile food and energy prices — rose 4.3% by year in August, a deceleration from 4.7% in July and the smallest reading since September 2021. “There is nothing here to seriously put a Fed rate hike on the table next week, but there is enough to keep the debate about the need for one more hike in 2023 alive,” Conrad DeQuadros, senior economic advisor at U.S.-based investment bank Brean Capital, told Reuters. Given the mixed CPI data, J.P.Morgan Asset Management wrote on Wednesday it expects the Federal Reserve to make no further interest rate hike in this monetary tightening cycle. “Despite still rising oil prices in early September, we expect the impact of oil price spikes on CPI to be limited,” J.P.Morgan’s Chief Global Strategist David Kelly said in a note viewed by Reuters , who expects the annual inflation rate will fall below the Fed’s long-term goal of 2% by the fourth quarter of 2024. The CME FedWatch Tool predicts a 97% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 58.4% chance for another pause in November, up from 56.8% on Wednesday. The U.S. August producer price index (PPI) is set to be released on Thursday, with analysts expecting the data to rise 1.2% by year, up from 0.8% in July. The data will provide further insights into the Fed’s future monetary policies. (Updates with equity section, comment from Stefanidis.)', 'Bitcoin rose on Thursday morning in Asia to trade above the US$26,000 support level. Ether also rose to reclaim US$1,600. All other top 10 non-stablecoin cryptocurrencies moved up, with Solana spearheading the winners with a 24-hour rise of over 2%. The rally followed the U.S. consumer price index (CPI) release on Wednesday, which showed an acceleration in the annual inflation rate in August, while the core CPI that excludes food and energy prices posed a deceleration. U.S. stock futures traded higher, after Wall Street closed mixed on Wednesday.\nBitcoin rose 1.45% in the last 24 hours to US$26,251.64 as of 07:20 a.m. in Hong Kong, adding 1.88% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency reclaimed the US$26,000 support level on Wednesday afternoon and touched a daily high of over US$26,370 on early Thursday morning.\nDespite reclaiming the key US$26,000 line, Bitcoin’s momentum has seemingly weakened on Tuesday, but is “still strong enough to hold on to\xa0most of what was reclaimed after the bounce,” Keith Alan, co-founder of monitoring resource Material Indicators,tweetedon Wednesday.\nBitcoin still faces multiple technical resistances, including a “death cross” between the token’s 50-day and 200-day simple moving averages – which currentlysitat US$27,444 and US$27,670, as well as a 100-day moving average at US$28,292 that outlines the ceiling of the range, according to Alan onTuesday.\nEther also gained 0.95% to US$1,609.32 but still traded 1.64% lower in the past seven days. The second top crypto reached a 24-hour high of US$1,619.11 on Tuesday night.\nBitcoin and Ether prices briefly dipped on early Thursday morning in Asia after the bankrupt crypto exchange FTXreceivedcourt approval to sell its US$3.4 billion worth of crypto assets. The selling is capped at US$100 million per week, which can be extended to US$200 million.\nFTX’s current crypto holdings include US$1.16 billion in Solana’s SOL and US$560 million in Bitcoin, according to a Mondaycourt filing.\nDespite the incoming FTX liquidation, crypto prices remain largely stable. All other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. SOL led the winners, which rose 2.70% to US$18.43 but lost 6.70% for the week.\nVisawrotein a Tuesday research report that Solana blockchain “has attributes like high transaction throughput and scalability at low cost that help make it a good candidate for payments and Visa’s stablecoin settlement pilot.” The global payment giant announced apartnershipwith Solana on Sept. 5 to expand its USDC stablecoin settlement pilot to Solana’s blockchain\nThe total crypto market capitalization gained 1.07% in the past 24 hours to US$1.04 trillion, while trading volume dropped 21.30% to US$27.63 billion.\n“The recent stability could be attributed to steady CPI data, as is common amongst high-risk asset classes,” said John Stefanidis, CEO and co-founder of blockchain infrastructure DAO, Balthazar DAO.\n“Moreover, it seems the crypto market may have already priced in the potential ramifications of FTX’s approved sale of its substantial $3.4 billion crypto asset portfolio,” added Stefanidis.\nU.S. stock futures were trading higher as of 09:30 a.m. in Hong Kong, after Wall Street closed mixed on Wednesday, with the S&P 500 and Nasdaq Composite logging gains while the Dow Jones Industrial Average edging lower.\nMost main stock indexes in Asia rose on Thursday morning. Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all logged gains, while China’s Shanghai Composite inched down 0.03%.\nThe U.S.CPI releaseon Wednesday sent mixed information to the market. The inflation gauge rose 3.7% by year in August, an acceleration from 3.2% in July. The August CPI also booked a monthly gain of 0.6%, the biggest increase since June 2022.\nThe accelerated CPI growth aligns with analysts’ expectation, according toReuterson Thursday. Gasoline price, which jumped 10.6% in August, accounted for over 50% of the CPI growth in the month.\nMeanwhile, the core CPI — which excludes the volatile food and energy prices — rose 4.3% by year in August, a deceleration from 4.7% in July and the smallest reading since September 2021.\n“There is nothing here to seriously put a Fed rate hike on the table next week, but there is enough to keep the debate about the need for one more hike in 2023 alive,” Conrad DeQuadros, senior economic advisor at U.S.-based investment bank Brean Capital, told Reuters.\nGiven the mixed CPI data, J.P.Morgan Asset Management wrote on Wednesday it expects the Federal Reserve to make no further interest rate hike in this monetary tightening cycle.\n“Despite still rising oil prices in early September, we expect the impact of oil price spikes on CPI to be limited,” J.P.Morgan’s Chief Global Strategist David Kelly said in a note viewed byReuters, who expects the annual inflation rate will fall below the Fed’s long-term goal of 2% by the fourth quarter of 2024.\nTheCME FedWatch Toolpredicts a 97% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 58.4% chance for another pause in November, up from 56.8% on Wednesday.\nThe U.S. August producer price index (PPI) is set to be released on Thursday, with analystsexpectingthe data to rise 1.2% by year, up from 0.8% in July. The data will provide further insights into the Fed’s future monetary policies.\n(Updates with equity section, comment from Stefanidis.)', 'A U.S. bankruptcy court in Delaware approved failed cryptocurrency exchange FTX’s motion to sell its crypto assets at a court hearing on Wednesday. The company, led by restructuring expert John J. Ray III, is looking to repay its creditors while considering a possiblerevampof the trading platform.\nSee related article:Why FTX deserves a second chance\n• Delaware bankruptcy court Judge John Dorsey allowed the bankrupt exchange to liquidate up to US$100 million in cryptocurrencies per week, according tocourt documents. The limit may rise to US$200 million upon approval from two committees representing FTX customers.\n• FTX also plans to hedge and stake its crypto through an investment advisor. The company expects these methods to mitigate price volatility risks and earn passive interest,according tothe approved proposal.\n• The company has nominated Galaxy Asset Management — a digital asset company led by ex-investment banker Mike Novogratz — to act as an advisor in the process.\n• The bankrupt crypto exchange owns US$3.4 billion in crypto assets, according to itscourt filing. It holds about US$1.16 billion in Solana, US$560 million in Bitcoin and US$192 million in Ether. Other crypto holdings include stablecoin USDT and XRP.\n• FTX and sister hedge fund Alameda Research filed for Chapter 11 bankruptcy protection on Nov. 11, which was followed byallegationsof misappropriation of billions of dollars in client funds and other wrongdoings.\n• FTX is also trying to claw back millions of dollars it paid celebrity endorsers and sports teams prior to its bankruptcy, including retired basketball player Shaquille O’Neal, tennis professional Naomi Osaka, and the National Basketball Association team Miami Heat.\n• Meanwhile, Sam Bankman-Fried, FTX founder and its former chief executive officer, wasjailedAug. 11 for witness tampering, following his arrest in the Bahamas in December 2022. He maintains his innocence and has pleaded not guilty to all 13 charges brought against him including multibillion-dollar wire and securities fraud.\nSee related article:Bankrupt FTX recovers US$7.3 billion in assets, considers resurrection of operations', 'A U.S. bankruptcy court in Delaware approved failed cryptocurrency exchange FTX\x92s motion to sell its crypto assets at a court hearing on Wednesday. The company, led by restructuring expert John J. Ray III, is looking to repay its creditors while considering a possible revamp of the trading platform. See related article: Why FTX deserves a second chance Fast facts Delaware bankruptcy court Judge John Dorsey allowed the bankrupt exchange to liquidate up to US$100 million in cryptocurrencies per week, according to court documents . The limit may rise to US$200 million upon approval from two committees representing FTX customers. FTX also plans to hedge and stake its crypto through an investment advisor. The company expects these methods to mitigate price volatility risks and earn passive interest, according to the approved proposal. The company has nominated Galaxy Asset Management \x97 a digital asset company led by ex-investment banker Mike Novogratz \x97 to act as an advisor in the process. The bankrupt crypto exchange owns US$3.4 billion in crypto assets, according to its court filing . It holds about US$1.16 billion in Solana, US$560 million in Bitcoin and US$192 million in Ether. Other crypto holdings include stablecoin USDT and XRP. FTX and sister hedge fund Alameda Research filed for Chapter 11 bankruptcy protection on Nov. 11, which was followed by allegations of misappropriation of billions of dollars in client funds and other wrongdoings. FTX is also trying to claw back millions of dollars it paid celebrity endorsers and sports teams prior to its bankruptcy, including retired basketball player Shaquille O\x92Neal, tennis professional Naomi Osaka, and the National Basketball Association team Miami Heat. Meanwhile, Sam Bankman-Fried, FTX founder and its former chief executive officer, was jailed Aug. 11 for witness tampering, following his arrest in the Bahamas in December 2022. He maintains his innocence and has pleaded not guilty to all 13 charges brought against him including multibillion-dollar wire and securities fraud. See related article: Bankrupt FTX recovers US$7.3 billion in assets, considers resurrection of operations', '• US stocks were mixed on Wednesday as traders weighted the hot August inflation report.\n• Consumer prices increased 3.7% year-per-year last month, above the expected 3.6%.\n• Markets now see a 41% chance that the Fed could hike rates 25 basis points in November.\nUS stocks traded mixed on Wednesday as traders weighed the August inflation report that came in hotter than economists expected.\nPrices rose 3.7% year over year last month, slightly ahead of the estimated 3.6% clip. Meanwhile, core inflation rose 4.3%, in-line in expectations.\n"On the whole, the upward moves were uncomfortably broad-based and are a nagging reminder to the Fed that inflation could resurface in the future even when it seems to be temporarily under control," BMO Wealth Management chief investment officer Yung-Yu Ma said. "The report reinforces our \'higher for longer\' expectation, and it would probably only take a few other unfavorable data points by year end to have the Fed thinking seriously of hiking rates again."\nMarkets are pricing in a97% chance central bankers will keep rates levelin September. But by November, they see a 41% chance rates could rise 25 basis points.\nMarkets are still waiting on key economic indicators before the Fed issues its next rate move on September 20. The Bureau of Labor Statistics is slated to release the August Producer Price Index before the opening bell on Thursday.\nHere\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Wednesday:\n• S&P 500:4,467.44, up 0.12%\n• Dow Jones Industrial Average:34,575.53, down 0.20% (70.46 points)\n• Nasdaq Composite:13,813.58, up 0.29%\nHere\'s what else is going on today:\n• Tesla is the most shorted stock in the market, according to a new report.\n• Here\'s what Wall Street analysts are saying about Apple\'s iPhone 15 event.\n• Chinese growth expectations have fallen to "lockdown lows,"according to a new Bank of America survey.\n• Investors just dumped $12 billion in Chinese stocksas confidence in the nation\'s economy wavers.\n• Rents in the US are close to notching a new all-time high.\nIn commodities, bonds, and crypto:\n• Oil prices slipped.West Texas Intermediatecrude oil fell 0.28% to $88.59 a barrel.Brent, the international benchmark, fell 0.12% to $91.95 a barrel.\n• Golddipped 0.25% to $1,908.81 per ounce.\n• The yield on the 10-year Treasury bond slipped one basis point to 4.249%.\n• Bitcoininched lower 0.2% to $26,134.\nRead the original article onBusiness Insider', 'Investors are widely expecting the Fed to pause interest rate hikes at its next policy meeting. Getty Images / Spencer Platt US stocks were mixed on Wednesday as traders weighted the hot August inflation report. Consumer prices increased 3.7% year-per-year last month, above the expected 3.6%. Markets now see a 41% chance that the Fed could hike rates 25 basis points in November. US stocks traded mixed on Wednesday as traders weighed the August inflation report that came in hotter than economists expected. Prices rose 3.7% year over year last month, slightly ahead of the estimated 3.6% clip. Meanwhile, core inflation rose 4.3%, in-line in expectations. "On the whole, the upward moves were uncomfortably broad-based and are a nagging reminder to the Fed that inflation could resurface in the future even when it seems to be temporarily under control," BMO Wealth Management chief investment officer Yung-Yu Ma said. "The report reinforces our \'higher for longer\' expectation, and it would probably only take a few other unfavorable data points by year end to have the Fed thinking seriously of hiking rates again." Markets are pricing in a 97% chance central bankers will keep rates level in September. But by November, they see a 41% chance rates could rise 25 basis points. Markets are still waiting on key economic indicators before the Fed issues its next rate move on September 20. The Bureau of Labor Statistics is slated to release the August Producer Price Index before the opening bell on Thursday. Here\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Wednesday: S&P 500 : 4,467.44, up 0.12% Dow Jones Industrial Average : 34,575.53, down 0.20% (70.46 points) Nasdaq Composite : 13,813.58, up 0.29% Here\'s what else is going on today: Tesla is the most shorted stock in the market , according to a new report. Here\'s what Wall Street analysts are saying about Apple\'s iPhone 15 event . Chinese growth expectations have fallen to "lockdown lows," according to a new Bank of America survey. Investors just dumped $12 billion in Chinese stocks as confidence in the nation\'s economy wavers. Rents in the US are close to notching a new all-time high . Story continues In commodities, bonds, and crypto: Oil prices slipped. West Texas Intermediate crude oil fell 0.28% to $88.59 a barrel. Brent , the international benchmark, fell 0.12% to $91.95 a barrel. Gold dipped 0.25% to $1,908.81 per ounce. The yield on the 10-year Treasury bond slipped one basis point to 4.249%. Bitcoin inched lower 0.2% to $26,134. Read the original article on Business Insider', "FTX Granted Court Approval To Sell $3.4 Billion in Crypto Assets Amid Bankruptcy Proceedings Court Approves Sale of FTX Crypto Assets In an important move for the bankrupt digital asset exchange FTX , Judge John Dorsey has approved the sale of $3.4 billion in crypto assets. The clearance came from the United States Bankruptcy Court for the District of Delaware. The failed crypto exchange will choose Galaxy Digital , led by Mike Novogratz, as the investment manager handling the asset sale, according to its plan detailed in August. The selling of tokens will be limited to $100 million each week, with the possibility of increasing it to $200 million for individual tokens, subject to explicit court authorization. FTX owns $1.16 billion in Solana (SOL) , $560 million in Bitcoin (BTC) , $192 million in Ethereum (ETH) , and $137 million in Aptos (APT) , according to a recent court filing. Approximately $800 million in cash and public equity has been recovered so far. However, Judge Dorsey clarified that the weekly limit will not include sales of Bitcoin, Ethereum, stablecoins, and the redemption of stablecoins. Additionally, transactions involving bridging tokens from non-native blockchains back to their native networks will be excluded from the calculation of the limit. Due to charges of criminal mismanagement, FTX declared bankruptcy in November of last year. The exchange's new administration is currently seeking to repay creditors and plans to sell these assets to help fill the initial $7 billion deficit. Former CEO and co-founder of FTX, Sam Bankman-Fried , is currently awaiting a major criminal trial scheduled for October in jail.", "Court Approves Sale of FTX Crypto Assets\nIn an important move for thebankrupt digital asset exchange FTX, Judge John Dorsey has approved the sale of $3.4 billion in crypto assets. The clearance came from the United States Bankruptcy Court for the District of Delaware.\nThe failedcrypto exchange will choose Galaxy Digital, led by Mike Novogratz, as the investment manager handling the asset sale, according to its plan detailed in August. The selling of tokens will be limited to $100 million each week, with the possibility of increasing it to $200 million for individual tokens, subject to explicit court authorization.\nFTX owns $1.16 billion inSolana (SOL), $560 million inBitcoin (BTC), $192 million inEthereum (ETH), and $137 million inAptos (APT), according to a recent court filing. Approximately $800 million in cash and public equity has been recovered so far.\nHowever, Judge Dorsey clarified that the weekly limit will not include sales of Bitcoin, Ethereum, stablecoins, and the redemption of stablecoins. Additionally, transactions involving bridging tokens from non-native blockchains back to their native networks will be excluded from the calculation of the limit.\nDue to charges of criminal mismanagement, FTX declared bankruptcy in November of last year. The exchange's new administration is currently seeking to repay creditors and plans to sell these assets to help fill the initial $7 billion deficit.\nFormer CEO and co-founder of FTX,Sam Bankman-Fried, is currently awaiting a major criminal trial scheduled for October in jail.", "Сryptocurrency Prices Did Not Change Significantly After The Publication Of August's CPI\nOn Wednesday, cryptocurrency prices remained stable as the latest inflation statistics from the United States showed a modest uptick. According to the Bureau of Labour Statistics (BLS), the Consumer Price Index (CPI) climbed 3.7% in the year to August, slightly exceeding economists' predictions of 3.6%. In August, the index rose 0.6% month on month, owing primarily to higher gasoline prices.\nFollowing the release of the report,Bitcoin (BTC)traded around $26,270, showing a 1.6% uptick over the past day.Ethereum (ETH)experienced a 1.9% increase to approximately $1,620.\nIn preparation for its next interest rate announcement on September 20, the Federal Reserve will evaluate the CPI report, as well as other indicators such as the US labor market and recent Personal Consumption Index (PCI) figures. Because inflation reached 9.1% in June, the largest yearly increase since 1981, the Fed has taken a hard position on monetary policy. Higher interest rates are meant to calm the economy by increasing the cost of borrowing.\nHigher interest rates have an impact on cryptocurrencies as well as other risk assets such as equities, in addition to economic growth. Cryptocurrencies are under pressure as U.S. Treasuries become more appealing to investors. Despite a considerable drop since June, inflation remains above the Fed's 2% annual target.\nThe Fed raised its benchmark interest rate to a range of 5.25% to 5.5% in July, marking a 22-year high. The decision followed a skipped rate hike in June, which was the first time the Fed had refrained from raising rates in 18 months.\nTraders currently anticipate a 91% chance that the Fed will maintain rates at its upcoming meeting, with a 5% chance of a rate cut in January of the following year, according to the CME Group's FedWatch Tool.", "August’s CPI Higher Than Expected, But Crypto Prices Remain Flat Сryptocurrency Prices Did Not Change Significantly After The Publication Of August's CPI On Wednesday, cryptocurrency prices remained stable as the latest inflation statistics from the United States showed a modest uptick. According to the Bureau of Labour Statistics (BLS), the Consumer Price Index (CPI) climbed 3.7% in the year to August, slightly exceeding economists' predictions of 3.6%. In August, the index rose 0.6% month on month, owing primarily to higher gasoline prices. Following the release of the report, Bitcoin (BTC) traded around $26,270, showing a 1.6% uptick over the past day. Ethereum (ETH) experienced a 1.9% increase to approximately $1,620. In preparation for its next interest rate announcement on September 20, the Federal Reserve will evaluate the CPI report, as well as other indicators such as the US labor market and recent Personal Consumption Index (PCI) figures. Because inflation reached 9.1% in June, the largest yearly increase since 1981, the Fed has taken a hard position on monetary policy. Higher interest rates are meant to calm the economy by increasing the cost of borrowing. Higher interest rates have an impact on cryptocurrencies as well as other risk assets such as equities, in addition to economic growth. Cryptocurrencies are under pressure as U.S. Treasuries become more appealing to investors. Despite a considerable drop since June, inflation remains above the Fed's 2% annual target. The Fed raised its benchmark interest rate to a range of 5.25% to 5.5% in July, marking a 22-year high. The decision followed a skipped rate hike in June, which was the first time the Fed had refrained from raising rates in 18 months. Traders currently anticipate a 91% chance that the Fed will maintain rates at its upcoming meeting, with a 5% chance of a rate cut in January of the following year, according to the CME Group's FedWatch Tool. View comments", 'Overpayment Of $500K In Bitcoin Fees On A $2K Transfer\nPaxos, the issuer of stablecoins such asPayPal USD (PYUSD)and Pax Dollar (USDP), has confirmed responsibility for the recent incident involving a $500,000 overpayment in Bitcoin fees. Initially, it was suspected that PayPal was behind the transaction, but Paxos stated that the problem was their own.\nPaxos made the error on September 10 when it overpaid the Bitcoin network fee. However, the business assured customers that the event only affected Paxos\' corporate operations and that customer payments were safe and not impacted.\nThe transaction came to light when blockchain data revealed that fees of approximately 20 BTC (over $515,000 at the time) were paid for a transfer of just 0.07 BTC (worth less than $2,000).\nBitcoin enthusiast Mononaut had suggested that PayPal might be involved, pointing out similarities between the sending account and an inactive wallet labeled "Paypal" by analytics platform OXT. However, Paxos\' statement clarified that PayPal was not responsible for the transaction.\nPaxos is now working with the mining company to rectify the situation and recover the excess fees paid.', 'Overpayment Of $500K In Bitcoin Fees On A $2K Transfer\nPaxos, the issuer of stablecoins such asPayPal USD (PYUSD)and Pax Dollar (USDP), has confirmed responsibility for the recent incident involving a $500,000 overpayment in Bitcoin fees. Initially, it was suspected that PayPal was behind the transaction, but Paxos stated that the problem was their own.\nPaxos made the error on September 10 when it overpaid the Bitcoin network fee. However, the business assured customers that the event only affected Paxos\' corporate operations and that customer payments were safe and not impacted.\nThe transaction came to light when blockchain data revealed that fees of approximately 20 BTC (over $515,000 at the time) were paid for a transfer of just 0.07 BTC (worth less than $2,000).\nBitcoin enthusiast Mononaut had suggested that PayPal might be involved, pointing out similarities between the sending account and an inactive wallet labeled "Paypal" by analytics platform OXT. However, Paxos\' statement clarified that PayPal was not responsible for the transaction.\nPaxos is now working with the mining company to rectify the situation and recover the excess fees paid.', 'Paxos Behind $500K Bitcoin Fee Overpayment For $2K Worth of BTC Transfer Overpayment Of $500K In Bitcoin Fees On A $2K Transfer Paxos, the issuer of stablecoins such as PayPal USD (PYUSD) and Pax Dollar (USDP), has confirmed responsibility for the recent incident involving a $500,000 overpayment in Bitcoin fees. Initially, it was suspected that PayPal was behind the transaction, but Paxos stated that the problem was their own. Paxos made the error on September 10 when it overpaid the Bitcoin network fee. However, the business assured customers that the event only affected Paxos\' corporate operations and that customer payments were safe and not impacted. The transaction came to light when blockchain data revealed that fees of approximately 20 BTC (over $515,000 at the time) were paid for a transfer of just 0.07 BTC (worth less than $2,000). Bitcoin enthusiast Mononaut had suggested that PayPal might be involved, pointing out similarities between the sending account and an inactive wallet labeled "Paypal" by analytics platform OXT. However, Paxos\' statement clarified that PayPal was not responsible for the transaction. Paxos is now working with the mining company to rectify the situation and recover the excess fees paid.', 'Bitcoin miners are pondering the refund of a hefty $500,000 bitcoin (BTC) fee paid by crypto services company Paxos for a mere $2,000 bitcoin transaction earlier this week – an incident the latter blamed was “due to a bug.”\nPaxos’ transaction was picked up by mining companyStake.fish, which uses its computing resources to mine and stake several networks.Stake.fishfounder Chun Wang said in an X post earlier this week that whoever was behind that transaction had three days to claim the transaction and likely receive a refund.\nA bitcoin fee is what a user pays to miners, or entities who maintain the network, to get their transaction included in the blockchain. The more a user pays, the higher the chance their transaction will be picked up immediately as miners are prioritize bigger payouts.\nPaxos runs a crypto exchange and issues its own USDP stablecoins, making it one of the most sophisticated players in the industry.\nLast Sunday, however, an apparent bug in the corporate operations side of the business led to a network fee of 20 bitcoin (worth just over $515,000 at the time) to send just 0.7 bitcoin (worth less than $2,000), Paxos said in an email to news outlets.\nThese fees usually range from $5 to $20, depending on network congestion and demand, as of Thursday.\nPaxos likely reached out toStake.fishto claim the fees. But in a Thursday post on X,Stake.fish’s Wang suggested the claim was made after the initial deadline, citing timezone differences.\n“I was annoyed and regretted agreeing to refund that 20 BTC,” Wang said. “Especially when I saw the person claiming it kept saying EST instead of EDT/UTC. Last time a Zcash guy did that, I blocked his entire company.”\nAn X poll under Wang’s post seemed to gather community sentiment for the eventual decision. Of nearly 1,700 voters as of Asian afternoon hours, 37% felt the fees should be distributed to miners, 27% felt it should be returned to Paxos, 21% voted on freezing the bitcoin, while the remaining favored a 50% split between miners and Paxos.\n“50/50 seems reasonable,” said @chjango, a Cosmos developer. “50% to miners in the network who should’ve gotten it otherwise. 50% back to paxos and let them appreciate the -50% cost of doing business and learn how to properly implement change outputs.”\n“They’ve been around long enough to know better than to make such an amateur mistake.”', 'Bitcoin miners are pondering the refund of a hefty $500,000 bitcoin (BTC) fee paid by crypto services company Paxos for a mere $2,000 bitcoin transaction earlier this week – an incident the latter blamed was “due to a bug.”\nPaxos’ transaction was picked up by mining companyStake.fish, which uses its computing resources to mine and stake several networks.Stake.fishfounder Chun Wang said in an X post earlier this week that whoever was behind that transaction had three days to claim the transaction and likely receive a refund.\nA bitcoin fee is what a user pays to miners, or entities who maintain the network, to get their transaction included in the blockchain. The more a user pays, the higher the chance their transaction will be picked up immediately as miners are prioritize bigger payouts.\nPaxos runs a crypto exchange and issues its own USDP stablecoins, making it one of the most sophisticated players in the industry.\nLast Sunday, however, an apparent bug in the corporate operations side of the business led to a network fee of 20 bitcoin (worth just over $515,000 at the time) to send just 0.7 bitcoin (worth less than $2,000), Paxos said in an email to news outlets.\nThese fees usually range from $5 to $20, depending on network congestion and demand, as of Thursday.\nPaxos likely reached out toStake.fishto claim the fees. But in a Thursday post on X,Stake.fish’s Wang suggested the claim was made after the initial deadline, citing timezone differences.\n“I was annoyed and regretted agreeing to refund that 20 BTC,” Wang said. “Especially when I saw the person claiming it kept saying EST instead of EDT/UTC. Last time a Zcash guy did that, I blocked his entire company.”\nAn X poll under Wang’s post seemed to gather community sentiment for the eventual decision. Of nearly 1,700 voters as of Asian afternoon hours, 37% felt the fees should be distributed to miners, 27% felt it should be returned to Paxos, 21% voted on freezing the bitcoin, while the remaining favored a 50% split between miners and Paxos.\n“50/50 seems reasonable,” said @chjango, a Cosmos developer. “50% to miners in the network who should’ve gotten it otherwise. 50% back to paxos and let them appreciate the -50% cost of doing business and learn how to properly implement change outputs.”\n“They’ve been around long enough to know better than to make such an amateur mistake.”', 'Bitcoin (BTC) and major tokens edged higher as traders digested concerns of a ruling in the ongoing FTX court casethat temporarily led to sell-off concernsearlier this week.\nBTC rose 1.5% to trade over $26,100 in European morning hours on Thursday. Ether neared $1,700 before falling to $1,650. Xrp (XRP) and solana (SOL) led gains among major crypto tokens, rising as much as 3% before retreating.\nThe CoinDesk Market Index (CMI), a broad-based index that tracks the prices of hundreds of tokens, rose 1.67% in the past 24 hours.\nAmong mid-caps, THORChain’s rune (RUNE) bumped 6.8% as developersunveiled a wayto allow cross-chain swaps of bitcoin via a tool built in collaboration with ShapeShift.\nA jump in SOL came even as crypto exchangeFTX revealed in bankruptcy court filings earlier this week that it holds $1.16 billion of SOL – approximately 16% of the token’s outstanding supply– and about $560 million in BTC. The rest of its holdings consist of lesser-known illiquid tokens.\nOn Wednesday, a judge in the U.S. Bankruptcy Court for the District of Delaware ruled that FTX could sell and invest its crypto holdings to pay back creditors.\nSOL dropped up to 4% following the court ruling, but part of the stash is locked as venture investment and not available for sale. Aptos (APT),another token held by FTX, dropped nearly 2%.\nMeanwhile, FxPro Senior Market Analyst Alex Kuptsikevich told CoinDesk in an email that, generally, bearish sentiment remained intact among professional traders.\n“The question is whether the recent dip will be the starting point for the next rally. Keep an eye on the activity near the recent highs; for now, the market is not allowed to go higher,” Kuptsikevich said.\n“Despite the potential for a rebound, BTCUSD remains within the bearish momentum that has been in place since July, with lower and lower highs and lows,” he added. “Ether remains in a downtrend, although its intensity is decreasing.”', 'Bitcoin (BTC) and major tokens edged higher as traders digested concerns of a ruling in the ongoing FTX court case that temporarily led to sell-off concerns earlier this week. BTC rose 1.5% to trade over $26,100 in European morning hours on Thursday. Ether neared $1,700 before falling to $1,650. Xrp (XRP) and solana (SOL) led gains among major crypto tokens, rising as much as 3% before retreating. The CoinDesk Market Index (CMI), a broad-based index that tracks the prices of hundreds of tokens, rose 1.67% in the past 24 hours. Among mid-caps, THORChain’s rune (RUNE) bumped 6.8% as developers unveiled a way to allow cross-chain swaps of bitcoin via a tool built in collaboration with ShapeShift. A jump in SOL came even as crypto exchange FTX revealed in bankruptcy court filings earlier this week that it holds $1.16 billion of SOL – approximately 16% of the token’s outstanding supply – and about $560 million in BTC. The rest of its holdings consist of lesser-known illiquid tokens. On Wednesday, a judge in the U.S. Bankruptcy Court for the District of Delaware ruled that FTX could sell and invest its crypto holdings to pay back creditors. SOL dropped up to 4% following the court ruling, but part of the stash is locked as venture investment and not available for sale. Aptos (APT), another token held by FTX, dropped nearly 2% . Meanwhile, FxPro Senior Market Analyst Alex Kuptsikevich told CoinDesk in an email that, generally, bearish sentiment remained intact among professional traders. “The question is whether the recent dip will be the starting point for the next rally. Keep an eye on the activity near the recent highs; for now, the market is not allowed to go higher,” Kuptsikevich said. “Despite the potential for a rebound, BTCUSD remains within the bearish momentum that has been in place since July, with lower and lower highs and lows,” he added. “Ether remains in a downtrend, although its intensity is decreasing.”', 'Bullish bitcoin (BTC) undercurrents lurk below the boringly calm crypto waters, setting the stage for a potential outsized price rally.\nThe percentage of bitcoin\'s circulating supply active onchain within the last month fell to a record low of 5.4% early this week, according to Blockware Solutions and Glassnode. In other words, fewer coins are changing hands, indicating supply-side weakness. At press time, bitcoin\'s circulating supply was 19.48 million.\n"Price is set at the margin, which means those who trade Bitcoin back and forth drive short-term price action. As supply-side illiquidity continues to increase, as indicated by fewer supply exchanging hands, any demand catalyst will send the price skyrocketing," Blockware Solutions said in an email.\nThe percentage of circulating supply that has remainedinactivefor over a year stands near 70%.\nBuy and hold remains a preferred strategy in the crypto market, with the so-called long-term holderscontrollingover 75% of the circulating supply. Glassnode defines long-term holders as addresses that hold coins for at least 155 days.\nBesides the potential spot bitcoin-exchange-traded fund (ETF) launch, which is several months away, macro and regulatory concerns favor the bears.\n"The macro scenario has never been murkier and the \'higher for longer\' general mood could keep a lid on risk assets, including crypto," David Lawant, head of research at FalconX, said in a note to subscribers on Tuesday.\n"There\'s also some potential selling pressure coming from government-seized wallets, chapter 11 portfolios, and large token unlocks over the next 6-12 months. Finally, there\'s uncertainty on whether more regulatory action is coming in the U.S.," Lawant added.', 'Bullish bitcoin (BTC) undercurrents lurk below the boringly calm crypto waters, setting the stage for a potential outsized price rally. The percentage of bitcoin\'s circulating supply active onchain within the last month fell to a record low of 5.4% early this week, according to Blockware Solutions and Glassnode. In other words, fewer coins are changing hands, indicating supply-side weakness. At press time, bitcoin\'s circulating supply was 19.48 million. "Price is set at the margin, which means those who trade Bitcoin back and forth drive short-term price action. As supply-side illiquidity continues to increase, as indicated by fewer supply exchanging hands, any demand catalyst will send the price skyrocketing," Blockware Solutions said in an email. The percentage of circulating supply that has remained inactive for over a year stands near 70%. Buy and hold remains a preferred strategy in the crypto market, with the so-called long-term holders controlling over 75% of the circulating supply. Glassnode defines long-term holders as addresses that hold coins for at least 155 days. Awaiting bullish catalysts Besides the potential spot bitcoin-exchange-traded fund (ETF) launch, which is several months away, macro and regulatory concerns favor the bears. "The macro scenario has never been murkier and the \'higher for longer\' general mood could keep a lid on risk assets, including crypto," David Lawant, head of research at FalconX, said in a note to subscribers on Tuesday. "There\'s also some potential selling pressure coming from government-seized wallets, chapter 11 portfolios, and large token unlocks over the next 6-12 months. Finally, there\'s uncertainty on whether more regulatory action is coming in the U.S.," Lawant added. View comments', 'Bullish bitcoin (BTC) undercurrents lurk below the boringly calm crypto waters, setting the stage for a potential outsized price rally.\nThe percentage of bitcoin\'s circulating supply active onchain within the last month fell to a record low of 5.4% early this week, according to Blockware Solutions and Glassnode. In other words, fewer coins are changing hands, indicating supply-side weakness. At press time, bitcoin\'s circulating supply was 19.48 million.\n"Price is set at the margin, which means those who trade Bitcoin back and forth drive short-term price action. As supply-side illiquidity continues to increase, as indicated by fewer supply exchanging hands, any demand catalyst will send the price skyrocketing," Blockware Solutions said in an email.\nThe percentage of circulating supply that has remainedinactivefor over a year stands near 70%.\nBuy and hold remains a preferred strate
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-14
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $515,226,336,300
- Hash Rate: 436074544.7824885
- Transaction Count: 576215.0
- Unique Addresses: 875176.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.45
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: This is David Z. Morris, filling in for Michael Casey to talk about so-called artificial intelligence, the threats it poses to the future – and how crypto could help mitigate them.
As Michael would surely agree, there are no real days off in crypto. I was reminded myself when I recently spent a long weekend at the fantasticReaderconfiction convention. Inevitably, I missed someimportant crypto stories, but I also got some up-close insight into another looming novelty: the existential threat that automated large language models (LLMs) like GPT3 pose to the entire internet.
You’re readingMoney Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. Subscribe to get the full newsletterhere.
That might sound hyperbolic. But at Readercon, I met Neil Clarke, founder and editor of the top-tier science fiction magazineClarkesworld, which along with other fiction publications has become a canary in the coal mine of A.I. run amok. The rise of ChatGPT has inundated these journals with a flood of fake GPT-generated story submissions, a plague so severe Clarkesworld was forced to temporarily pause submissions this February, threatening the work and livelihoods of real authors.
“I’ve been calling it spam,” says Clarke, “Because that’s what it is. I sometimes refuse to even call it ‘artificial intelligence.’ You can’t humanize these things. It’s not like the science fiction of movies where it’s aware. It’s a statistical [language] model.”
The mention of spam should raise the antenna of longtime cryptocurrency watchers: the same problem lay at the very origins of Bitcoin.
Between 1998 and 2002, computer scientist Adam Back developed the concept of “Hashcash,” primarily intended to combat e-mail spam by requiring a tiny payment to send one. Back and his ideas became foundational to the development of Bitcoin, and he’s now CEO of crypto developer Blockstream.
Two decades later, with robotic barbarian hordes poised to swamp human communication systems, it might be time to revisit the Hashcash concept.
“ChatGPT came out in late November,” Clarke says, “And we immediately started seeing submissions using it. The first people to adopt it were the ones already submitting plagiarized works. It was readily embraced by people who were trying to make a quick buck off other people’s work.”
As they faced down the spam problem, Clarke says he and his team quickly realized the attack was coordinated. YouTube and TikTok channels focused on get-rich-quick schemes were promising viewers they could make thousands of dollars by submitting GPT-generated stories to fiction magazines like Clarkesworld. Clarkesworld pays a few hundred dollars per story, depending on length – not much more than beer money in some parts of the world, but extremely meaningful in others.
Those fraudulent promises from online grifters seem to have spread fast. Clarke says he received 54 AI-generated submissions in December. In January, he got 117 fake stories. In February, the number hit 514 before Clarke closed submissions midday on February 20.
“And that morning alone,” he says, “we had 50.”
Clarkesworld has a small staff, who normally review about 1,100 submissions a month. So the accelerating flood of trash threatened to overwhelm them, and solutions weren’t obvious.
“We have an open submission process, specifically designed to welcome in new writers and new voices,” says Clarke. “So we could close submissions from certain locations [to fight spam], but we also have legitimate authors coming in from those countries. And we’ve been told things like, ‘The payment for this story will cover my bills for a month.’”
“Authors like that are getting buried. The A.I. submissions hurt new authors, and authors who might not be from communities that are well-connected.” This is one clear way auto-generated content threatens to make the internet worse for human beings – particularly those at the margins.
“If you go back 15 or 20 years when we took submissions on paper,” Clarke says, “just the cost of postage was enough to decrease submissions from outside the U.S., Canada, and U.K. substantially. And as soon as you have digital submissions, we had this flood of international submissions.” That has led to a huge diversification of the fiction world – a creative renaissance that’s now threatened by the rise of LLMs.
Clarke is also a coder, which gave him useful tools for addressing the spam challenge. He began associating more metadata with submissions, such as whether they came through a VPN and the length of the user’s session. These and other criteria are now used as part of a “points system” that places stories more likely to be fake further down a review queue. This helps real authors get read first, but also ensures that every submission is eventually reviewed.
Finally, if a story is determined to be LLM-generated, the submitter is permanently banned from the system.
Those measures have helped Clarkesworld reopen submissions, for now – but a continued rise in the volume of spam they’re dealing with would mean the solution is only temporary.
One important aspect of Clarke’s experience is that the actual quality of the robotic submissions has been abysmally low. They’re almost instantly recognizable to a human reader, and have no actual chance of being published.
“ChatGPT3 was writing at a level below the worst human writers,” says Clarke, who after two decades as an editor knows exactly what the worst looks like. “GPT4 is getting closer to the worst human writers, but even that’s still rare.”
“The common thing is that they have perfect grammar, they have perfect spelling,” Clarke continues. “But the stories themselves don’t make a lot of sense. They jump over important things. They’ll start out with a basic premise, like ecological collapse, and introduce some scientists who can solve the problem, and then suddenly they’ve solved the problem. It’s missing the middle of the story, and bookending it with stereotypical openings and closings, done very poorly.”
That sounds a lot like Ted Chiang’s recent characterization of ChatGPT’s output as“a blurry JPEG of the internet.”This manifest crappiness happily debunks much of the brain-dead hype around LLMs. But it also makes the image of talented (and wildly underpaid) editors being forced to sift through the dross all the more depressing.
Another option for reducing spam submissions is a submission fee. Clarke says he has no desire or plan to implement a fee, thanks to overriding ethical and creative concerns. In particular, a submission fee could limit access, which the community of science fiction writers strongly opposes.
But beyond that, the technical shortcomings of current global payments infrastructure also make charging an anti-spam fee impractical, even if Clarke wanted to.
For instance, Clarke says to charge a submission fee, he would need to be able to refund it, for instance to writers whose stories were accepted, or simply not AI-generated. An ideal spam-blocking fee would also be quite small – certainly far lower than the $25 or $30 worth of postage that was keeping away developing-world authors in the pre-internet era.
But there’s no way to do that with current tech.
“Tell me a credit card company where I can refund almost all of it. I’d lose the account,” says Clarke. As any good crypto bro knows, credit cards also don’t play well with small payments. But those aren’t even the biggest issue.
“There are also problems with trying to take payments in different parts of the world,” Clarke continues. “There are a number of African countries that credit card companies won’t work with. So that would eliminate authors. I’ve also had people suggest identity services, but those also have nation-sized holes in them. We need something that works for everybody.”
If you’re reading this, you already know where we’re headed: at least in principle, cryptocurrency and related systems could help mitigate Clarkesworld’s fake submission problem.
Requiring a small payment for all submissions would reduce low-quality submissions, lightening editors’ workloads, and compensating them for the spam that did come in. Because payments could be cheaply, quickly, and easily returned to real authors, the cost to actual human writers would be marginal. And because these systems are not confined by national borders, no real writers would be crowded out by the robo-regurgitators.
Though it would take considerable elaboration, some version of the same system may someday serve parallel purposes in less boutique settings. One can imagine aSteem-likesystem of staking incentives being used to punish automated posting on forums or social media, for instance. More elaborate decentralized identity systems, such asSpruceID, are more challenging and, for now, more nascent, but could have even more profound potential.
To be clear, none of this should be necessary. LLMs are quickly being revealed as little more than parlor tricks, whose real utility is probably limited, at least in the near term, to short-form customer service and clickbait entertainment. (Take for instanceCNET’s disastrous experimentwith using GPT to write news articles).
The technology’s biggest impacts are instead seen in the spread of fourth-rate gibberish that wastes the time and brainpower of all the actual humans involved. But if this is what the god-princes of Silicon Valley see as the next frontier of venture capital riches, then it is the world we’ll have to live in. At the very least, crypto offers one hope for fighting back....
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin rose on Friday morning in Asia to trade above US$26,500. Ether also moved higher to over US$1,600. All other top 10 non-stablecoin cryptocurrencies gained with Tron network’s TRX token leading the winners with a 24-hour rise of over 3%. The rise in crypto prices coincided with an announcement from Deutsche Bank that said the largest German lender would provide crypto custody services. U.S. stock futures edged up after Wall Street closed higher on Wednesday following strong economic data from the U.S.\nBitcoin rose 1.49% in the last 24 hours to US$26,610.48 as of 07:30 a.m. in Hong Kong and went up 1.60% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency reclaimed US$26,774.62 on Thursday evening, the highest price since Aug. 31.\nBitcoin’s rise this week “coincides with a noticeable return in investor sentiment,” Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com, said in an emailed comment.\nBy the end of Wednesday, open interests in Bitcoin derivatives reached about 7.525 billion — its highest levels since Aug. 31, and the same applies to Ether open positions that reached around 3.7 billion, said Hasn, citing data from blockchain intelligence platform CryptoQuant.\nEther gained 1.38% to trade at US$1,629.33 but was still down 0.95% for the past seven days.\nThe crypto market received a boost from news that Deutsche Bank — a German lender that hadUS$1.4 trillionin total assets at the end of 2022 — will launch custody services for cryptocurrencies and tokenized assets of institutional customers in a partnership with Swiss fintech firm Taurus, according to a Thursdaypress release.\n“As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike. As such, custodians must start adapting to support their clients,” Paul Maley, global head of securities services at Deutsche Bank, said in the announcement.\n“Deutsche Bank’s recent announcement to offer crypto custody services is a positive step towards a growing acceptance and development of crypto in the mainstream financial sector. It could also be potentially providing a renewed sense of confidence among investors,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure decentralized organization, Balthazar DAO.\nAll other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. Tron’s TRX led the winners, which rose 3.46% to US$0.08388 and added 6.15% for the week.\nMeanwhile, the positive sentiment came amid regulatory battles in the U.S., as the SEC earlier this weekchargedStone Cats 2 — the company behind the “Stoner Cats” animated series — with conducting an unregistered offering of crypto asset securities in the form of non-fungible tokens (NFTs).\nBack in July 2021, Stone Cats 2 sold 10,000 NFTs for US$800 each to fund the Stoner Cats series. The firm has agreed to a cease-and-desist order and will pay a civil penalty of US$1 million.\nThe total crypto market capitalization gained 1.27% in the past 24 hours to US$1.06 trillion, while trading volume edged up 3.00% to US$28.28 billion.\nU.S. stock futures moved up as of 09:10 a.m. in Hong Kong, after Wall Street closed higher on Thursday, with Dow Jones Industrial Average leading the winners with a 0.96% increase.\nMost main stock indexes in Asia rose on Wednesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all logged gains, with Nikkei 225 spearheading the gains with a 0.87% rise.\nWall Street’s Thursday day rally followed strong economic data coming from the U.S. The country’sretail salesin August rose 0.6% by month, beating the analysts’expectationof 0.2%.\nHowever, the unexpected retail sales growth was largely due to the surge in oil prices, as receipts at gasoline stations jumped 5.2% by month. With gasoline excluded, retail sales edged up 0.2% in August, decelerating from 0.5% in July and among the weakest readings this year, according toBloombergon Thursday.\nThe 0.2% uptick is still higher than the median forecast of a 0.1% drop, but also points to a slowdown in the U.S. economy.\n“While consumption has been more resilient than anticipated so far this year, the case for a slowdown is building,” Michael Pearce, lead U.S. economist at Oxford Economics, said in a note seen byBloomberg. “More broadly, the renewed rise in gasoline prices is hitting real incomes at a time when slowing wage growth, hours worked and payroll gains are pressuring income growth.”\nElsewhere on the economic data front, theU.S. producer price index (PPI)also booked a bigger-than-expected monthly growth of 0.7% as the gasoline cost jumped 20%. Meanwhile, the number of U.S. initial jobless claims rose to 220,000 in the week ending Sept. 9, but was lower than the analysts’ expectation of 225,000, according toReuterson Thursday.\n“There is nothing in today’s reports to prompt a Fed rates response next week, even though the labor market remains out of balance,” Christopher Rupkey, chief economist at U.S.-based financial markets research firm FWDBOND, toldReuters. “The economy is in a good place for now with moderate consumer demand that is not hot enough to bring inflation back to life.”\nTheCME FedWatch Toolpredicts a 96% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 63% chance for another pause in November, up from 58.4% on Thursday.\nInvestors are now waiting for a slew of economic data from China on Friday, including house prices, fixed asset investment, retail sales, industrial production and unemployment. Analysts expect an acceleration in the country’s retail sales and industrial production growths in August, but also a slowdown in its fixed asset investment growth, Reutersreportedon Friday.\n(Updates with equity section.)', 'Bitcoin rose on Friday morning in Asia to trade above US$26,500. Ether also moved higher to over US$1,600. All other top 10 non-stablecoin cryptocurrencies gained with Tron network’s TRX token leading the winners with a 24-hour rise of over 3%. The rise in crypto prices coincided with an announcement from Deutsche Bank that said the largest German lender would provide crypto custody services. U.S. stock futures edged up after Wall Street closed higher on Wednesday following strong economic data from the U.S. Bitcoin, Ether gain; Deutsche Bank news pumps optimism into crypto markets Bitcoin rose 1.49% in the last 24 hours to US$26,610.48 as of 07:30 a.m. in Hong Kong and went up 1.60% for the week, according to CoinMarketCap data. The world’s largest cryptocurrency reclaimed US$26,774.62 on Thursday evening, the highest price since Aug. 31. Bitcoin’s rise this week “coincides with a noticeable return in investor sentiment,” Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com, said in an emailed comment. By the end of Wednesday, open interests in Bitcoin derivatives reached about 7.525 billion — its highest levels since Aug. 31, and the same applies to Ether open positions that reached around 3.7 billion, said Hasn, citing data from blockchain intelligence platform CryptoQuant. Ether gained 1.38% to trade at US$1,629.33 but was still down 0.95% for the past seven days. The crypto market received a boost from news that Deutsche Bank — a German lender that had US$1.4 trillion in total assets at the end of 2022 — will launch custody services for cryptocurrencies and tokenized assets of institutional customers in a partnership with Swiss fintech firm Taurus, according to a Thursday press release . “As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike. As such, custodians must start adapting to support their clients,” Paul Maley, global head of securities services at Deutsche Bank, said in the announcement. Story continues “Deutsche Bank’s recent announcement to offer crypto custody services is a positive step towards a growing acceptance and development of crypto in the mainstream financial sector. It could also be potentially providing a renewed sense of confidence among investors,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure decentralized organization, Balthazar DAO. All other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. Tron’s TRX led the winners, which rose 3.46% to US$0.08388 and added 6.15% for the week. Meanwhile, the positive sentiment came amid regulatory battles in the U.S., as the SEC earlier this week charged Stone Cats 2 — the company behind the “Stoner Cats” animated series — with conducting an unregistered offering of crypto asset securities in the form of non-fungible tokens (NFTs). Back in July 2021, Stone Cats 2 sold 10,000 NFTs for US$800 each to fund the Stoner Cats series. The firm has agreed to a cease-and-desist order and will pay a civil penalty of US$1 million. The total crypto market capitalization gained 1.27% in the past 24 hours to US$1.06 trillion, while trading volume edged up 3.00% to US$28.28 billion. U.S. equities rise following strong economic data Image: Getty Images U.S. stock futures moved up as of 09:10 a.m. in Hong Kong, after Wall Street closed higher on Thursday, with Dow Jones Industrial Average leading the winners with a 0.96% increase. Most main stock indexes in Asia rose on Wednesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all logged gains, with Nikkei 225 spearheading the gains with a 0.87% rise. Wall Street’s Thursday day rally followed strong economic data coming from the U.S. The country’s retail sales in August rose 0.6% by month, beating the analysts’ expectation of 0.2%. However, the unexpected retail sales growth was largely due to the surge in oil prices, as receipts at gasoline stations jumped 5.2% by month. With gasoline excluded, retail sales edged up 0.2% in August, decelerating from 0.5% in July and among the weakest readings this year, according to Bloomberg on Thursday. The 0.2% uptick is still higher than the median forecast of a 0.1% drop, but also points to a slowdown in the U.S. economy. “While consumption has been more resilient than anticipated so far this year, the case for a slowdown is building,” Michael Pearce, lead U.S. economist at Oxford Economics, said in a note seen by Bloomberg . “More broadly, the renewed rise in gasoline prices is hitting real incomes at a time when slowing wage growth, hours worked and payroll gains are pressuring income growth.” Elsewhere on the economic data front, the U.S. producer price index (PPI) also booked a bigger-than-expected monthly growth of 0.7% as the gasoline cost jumped 20%. Meanwhile, the number of U.S. initial jobless claims rose to 220,000 in the week ending Sept. 9, but was lower than the analysts’ expectation of 225,000, according to Reuters on Thursday. “There is nothing in today’s reports to prompt a Fed rates response next week, even though the labor market remains out of balance,” Christopher Rupkey, chief economist at U.S.-based financial markets research firm FWDBOND, told Reuters . “The economy is in a good place for now with moderate consumer demand that is not hot enough to bring inflation back to life.” The CME FedWatch Tool predicts a 96% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 63% chance for another pause in November, up from 58.4% on Thursday. Investors are now waiting for a slew of economic data from China on Friday, including house prices, fixed asset investment, retail sales, industrial production and unemployment. Analysts expect an acceleration in the country’s retail sales and industrial production growths in August, but also a slowdown in its fixed asset investment growth, Reuters reported on Friday. (Updates with equity section.)', 'Bitcoin rose on Friday morning in Asia to trade above US$26,500. Ether also moved higher to over US$1,600. All other top 10 non-stablecoin cryptocurrencies gained with Tron network’s TRX token leading the winners with a 24-hour rise of over 3%. The rise in crypto prices coincided with an announcement from Deutsche Bank that said the largest German lender would provide crypto custody services. U.S. stock futures edged up after Wall Street closed higher on Wednesday following strong economic data from the U.S.\nBitcoin rose 1.49% in the last 24 hours to US$26,610.48 as of 07:30 a.m. in Hong Kong and went up 1.60% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency reclaimed US$26,774.62 on Thursday evening, the highest price since Aug. 31.\nBitcoin’s rise this week “coincides with a noticeable return in investor sentiment,” Samer Hasn, market analyst at Australia-based global multi-asset broker XS.com, said in an emailed comment.\nBy the end of Wednesday, open interests in Bitcoin derivatives reached about 7.525 billion — its highest levels since Aug. 31, and the same applies to Ether open positions that reached around 3.7 billion, said Hasn, citing data from blockchain intelligence platform CryptoQuant.\nEther gained 1.38% to trade at US$1,629.33 but was still down 0.95% for the past seven days.\nThe crypto market received a boost from news that Deutsche Bank — a German lender that hadUS$1.4 trillionin total assets at the end of 2022 — will launch custody services for cryptocurrencies and tokenized assets of institutional customers in a partnership with Swiss fintech firm Taurus, according to a Thursdaypress release.\n“As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike. As such, custodians must start adapting to support their clients,” Paul Maley, global head of securities services at Deutsche Bank, said in the announcement.\n“Deutsche Bank’s recent announcement to offer crypto custody services is a positive step towards a growing acceptance and development of crypto in the mainstream financial sector. It could also be potentially providing a renewed sense of confidence among investors,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure decentralized organization, Balthazar DAO.\nAll other top 10 non-stablecoin cryptocurrencies posted gains in the past 24 hours. Tron’s TRX led the winners, which rose 3.46% to US$0.08388 and added 6.15% for the week.\nMeanwhile, the positive sentiment came amid regulatory battles in the U.S., as the SEC earlier this weekchargedStone Cats 2 — the company behind the “Stoner Cats” animated series — with conducting an unregistered offering of crypto asset securities in the form of non-fungible tokens (NFTs).\nBack in July 2021, Stone Cats 2 sold 10,000 NFTs for US$800 each to fund the Stoner Cats series. The firm has agreed to a cease-and-desist order and will pay a civil penalty of US$1 million.\nThe total crypto market capitalization gained 1.27% in the past 24 hours to US$1.06 trillion, while trading volume edged up 3.00% to US$28.28 billion.\nU.S. stock futures moved up as of 09:10 a.m. in Hong Kong, after Wall Street closed higher on Thursday, with Dow Jones Industrial Average leading the winners with a 0.96% increase.\nMost main stock indexes in Asia rose on Wednesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all logged gains, with Nikkei 225 spearheading the gains with a 0.87% rise.\nWall Street’s Thursday day rally followed strong economic data coming from the U.S. The country’sretail salesin August rose 0.6% by month, beating the analysts’expectationof 0.2%.\nHowever, the unexpected retail sales growth was largely due to the surge in oil prices, as receipts at gasoline stations jumped 5.2% by month. With gasoline excluded, retail sales edged up 0.2% in August, decelerating from 0.5% in July and among the weakest readings this year, according toBloombergon Thursday.\nThe 0.2% uptick is still higher than the median forecast of a 0.1% drop, but also points to a slowdown in the U.S. economy.\n“While consumption has been more resilient than anticipated so far this year, the case for a slowdown is building,” Michael Pearce, lead U.S. economist at Oxford Economics, said in a note seen byBloomberg. “More broadly, the renewed rise in gasoline prices is hitting real incomes at a time when slowing wage growth, hours worked and payroll gains are pressuring income growth.”\nElsewhere on the economic data front, theU.S. producer price index (PPI)also booked a bigger-than-expected monthly growth of 0.7% as the gasoline cost jumped 20%. Meanwhile, the number of U.S. initial jobless claims rose to 220,000 in the week ending Sept. 9, but was lower than the analysts’ expectation of 225,000, according toReuterson Thursday.\n“There is nothing in today’s reports to prompt a Fed rates response next week, even though the labor market remains out of balance,” Christopher Rupkey, chief economist at U.S.-based financial markets research firm FWDBOND, toldReuters. “The economy is in a good place for now with moderate consumer demand that is not hot enough to bring inflation back to life.”\nTheCME FedWatch Toolpredicts a 96% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 63% chance for another pause in November, up from 58.4% on Thursday.\nInvestors are now waiting for a slew of economic data from China on Friday, including house prices, fixed asset investment, retail sales, industrial production and unemployment. Analysts expect an acceleration in the country’s retail sales and industrial production growths in August, but also a slowdown in its fixed asset investment growth, Reutersreportedon Friday.\n(Updates with equity section.)', "• US stocks rose Thursday, with the Dow Jones notching its biggest gain in a month.\n• Investors cheered more signs of consumer strength and Arm's blowout IPO.\n• The producer price index for August showed wholesale prices rising faster than expected.\nUS stocks rose on Thursday, with the Dow Jones surging 374 points, its largest gain in a month.\nStrong sentiment was driven by a better-than-expected retail sales report. August retail sales saw a 0.6% increase, above expectations of a 0.1% climb.\xa0 When excluding autos, sales rose 0.6%, against a 0.4% outlook.\nInvestors were also encouraged by theblowout debut of chip designer Arm, which wrapped the biggest IPO since 2021, securing a valuation of $54 billion. The shares closed 24% higher, ending the day at $63.59, well above the IPO price of $51.\nProducer price index data for August was also released on Thursday. It showed prices grew by 0.7% in August, topping estimates of a 0.4% rise. The Federal Reserve will meet next week to decide its next monetary policy move, with markets pricing in strong odds the central banks holds steady before potentially raising interest rates again in November.\nHere's where US indexes stood at the 4:00 p.m. closing bell on Thursday:\n• S&P 500: 4,505.10, up 0.84%\n• Dow Jones Industrial Average: 34,907.11, up 0.96% (+331.58 points)\n• Nasdaq Composite: 13,926.05, up 0.81%\nHere's what else is going on today:\n• Ray Dalio says bonds arenot a good long-term investment, citing growing US debt concerns.\n• US crude oilhit $90 a barrelfor the first time in 10 months.\n• Thepandemic freight recessionis finally showing signs of easing.\n• Robert Kiyosaki saidAirbnb will likely spark a coming real estate crisis, though data shows a healthy rental market..\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 2.14% to $90.41 a barrel.Brent, the international benchmark, gained 2.19% at $93.90 a barrel.\n• Golddipped 0.8% t0 $1,930.90 per ounce.\n• The yield on the 10-year Treasury bond climbed 4.2 basis points to 4.29%.\n• Bitcoinrose 1.65% to $26,661.\nRead the original article onBusiness Insider", "Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City. Michael M. Santiago/Getty Images US stocks rose Thursday, with the Dow Jones notching its biggest gain in a month. Investors cheered more signs of consumer strength and Arm's blowout IPO. The producer price index for August showed wholesale prices rising faster than expected. US stocks rose on Thursday, with the Dow Jones surging 374 points, its largest gain in a month. Strong sentiment was driven by a better-than-expected retail sales report. August retail sales saw a 0.6% increase, above expectations of a 0.1% climb.\xa0 When excluding autos, sales rose 0.6%, against a 0.4% outlook. Investors were also encouraged by the blowout debut of chip designer Arm , which wrapped the biggest IPO since 2021, securing a valuation of $54 billion. The shares closed 24% higher, ending the day at $63.59, well above the IPO price of $51. Producer price index data for August was also released on Thursday. It showed prices grew by 0.7% in August, topping estimates of a 0.4% rise. The Federal Reserve will meet next week to decide its next monetary policy move, with markets pricing in strong odds the central banks holds steady before potentially raising interest rates again in November. Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday: S&P 500 : 4,505.10, up 0.84% Dow Jones Industrial Average : 34,907.11, up 0.96% (+331.58 points) Nasdaq Composite : 13,926.05, up 0.81% Here's what else is going on today: Ray Dalio says bonds are not a good long-term investment , citing growing US debt concerns. US crude oil hit $90 a barrel for the first time in 10 months. The pandemic freight recession is finally showing signs of easing. Robert Kiyosaki said Airbnb will likely spark a coming real estate crisis , though data shows a healthy rental market.. In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 2.14% to $90.41 a barrel. Brent , the international benchmark, gained 2.19% at $93.90 a barrel. Gold dipped 0.8% t0 $1,930.90 per ounce. The yield on the 10-year Treasury bond climbed 4.2 basis points to 4.29%. Bitcoin rose 1.65% to $26,661. Read the original article on Business Insider", "Bitcoin (BTC) Exchange Rate Has Risen\nBitcoin (BTC)gained 2% on Thursday after the European Central Bank (ECB) indicated that its most recent interest rate hike may be the final. The ECB indicated in an announcement that its main interest rates had reached levels that would considerably contribute to the timely return of inflation to the objective. The bank increased three important interest rates by 0.25%, bringing the primary deposit facility rate to 4% from -0.5% in June 2022.\nAnalysts were already skeptical of another rate hike at the September meeting, with markets pricing in a 63% chance of one. However, the current rate is still below inflation predictions. The ECB now expects inflation to average 5.6% in 2023 and 3.2% in 2024, up from its earlier projections due to an increase in energy price projections.\nThe ECB underlined that underlying pricing pressures remain considerable, despite the fact that some signs have begun to moderate. Tightening financial conditions are also reducing demand, which is critical for returning inflation to target. The bank predicts that the eurozone's economic development would slow significantly, with growth rates of 0.7% in 2023 and 1.0% in 2024.\nThe increase in interest rates by central banks such as the ECB and the Federal Reserve has had an influence on investments in risk assets such as equities and cryptocurrencies. Bitcoin temporarily surpassed $30,000 in March 2023, following the start of the Federal Reserve's Bank Term Funding Programme.", "Bitcoin Up 2% as European Central Bank Signals End to Rate Hikes Bitcoin (BTC) Exchange Rate Has Risen Bitcoin (BTC) gained 2% on Thursday after the European Central Bank (ECB) indicated that its most recent interest rate hike may be the final. The ECB indicated in an announcement that its main interest rates had reached levels that would considerably contribute to the timely return of inflation to the objective. The bank increased three important interest rates by 0.25%, bringing the primary deposit facility rate to 4% from -0.5% in June 2022. Analysts were already skeptical of another rate hike at the September meeting, with markets pricing in a 63% chance of one. However, the current rate is still below inflation predictions. The ECB now expects inflation to average 5.6% in 2023 and 3.2% in 2024, up from its earlier projections due to an increase in energy price projections. The ECB underlined that underlying pricing pressures remain considerable, despite the fact that some signs have begun to moderate. Tightening financial conditions are also reducing demand, which is critical for returning inflation to target. The bank predicts that the eurozone's economic development would slow significantly, with growth rates of 0.7% in 2023 and 1.0% in 2024. The increase in interest rates by central banks such as the ECB and the Federal Reserve has had an influence on investments in risk assets such as equities and cryptocurrencies. Bitcoin temporarily surpassed $30,000 in March 2023, following the start of the Federal Reserve's Bank Term Funding Programme. View comments", "Bitcoin (BTC) Exchange Rate Has Risen\nBitcoin (BTC)gained 2% on Thursday after the European Central Bank (ECB) indicated that its most recent interest rate hike may be the final. The ECB indicated in an announcement that its main interest rates had reached levels that would considerably contribute to the timely return of inflation to the objective. The bank increased three important interest rates by 0.25%, bringing the primary deposit facility rate to 4% from -0.5% in June 2022.\nAnalysts were already skeptical of another rate hike at the September meeting, with markets pricing in a 63% chance of one. However, the current rate is still below inflation predictions. The ECB now expects inflation to average 5.6% in 2023 and 3.2% in 2024, up from its earlier projections due to an increase in energy price projections.\nThe ECB underlined that underlying pricing pressures remain considerable, despite the fact that some signs have begun to moderate. Tightening financial conditions are also reducing demand, which is critical for returning inflation to target. The bank predicts that the eurozone's economic development would slow significantly, with growth rates of 0.7% in 2023 and 1.0% in 2024.\nThe increase in interest rates by central banks such as the ECB and the Federal Reserve has had an influence on investments in risk assets such as equities and cryptocurrencies. Bitcoin temporarily surpassed $30,000 in March 2023, following the start of the Federal Reserve's Bank Term Funding Programme.", "For Immediate Release Chicago, IL – September 15, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. NVDA, Robinhood Markets, Inc. HOOD, Visa Inc. V and HIVE Blockchain Technologies Ltd. HIVE. Here are highlights from Thursday’s Analyst Blog: 4 Crypto Stocks in Focus as Interest Hike Fears Wane The cryptocurrency market has made a solid rebound this year after an unimpressive 2022. The Fed’s aggressive interest rate hike campaign last year to combat multi-decade high inflation impacted all major cryptocurrencies like Bitcoin, Ethereum, Cardano, Dogecoin and Litecoin. However, cryptocurrencies saw rangebound trading in August as multiple macroeconomic factors, including uncertainty over the Fed’s future course of action with its monetary tightening campaign, have made investors scramble for direction. In fact, Bitcoin price, which touched $31,500 in early July, has since retreated and was hovering around the $25,000 mark almost throughout August. However, on Sep 13, Bitcoin price once again surpassed the psychological level of $26,000, while Ethereum was trading at $1,615.4551. September is historically one of the worst months for markets but cryptocurrencies have so far shown resilience this time. The rebound comes on soaring optimism that the Fed might keep its interest rates unchanged in its September FOMC meeting. Earlier this week, the Wall Street Journal reported that Fed officials are now discussing whether further rate hikes are required this year as inflation has sharply declined over the past 12 months. The Fed increased interest rates by 525 basis points since March 2022, taking its benchmark interest to the range of 5.25-5.5%. The aggressive stance has seen inflation decline to more than half from its peak of 9.1% in June 2022. Historically, the price of Bitcoin has exhibited a notable correlation with the performance of the tech-heavy Nasdaq 100 stock index. This correlation exists because both tech stocks and cryptocurrencies are considered to be relatively risky assets, leading investors to respond in a similar manner when evaluating their investment strategies based on prevailing market conditions. Thus, a pause in rate hikes bodes well for the cryptocurrency market in the near term. Stocks in Focus NVIDIA Corp. is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence and the mining or production of cryptocurrencies. Story continues NVIDIA’s expected earnings growth rate for the current year is 219.5%. Shares of NVDA have gained 5.8% in the past three months. NVIDIA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here . Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform. Robinhood Markets’ expected earnings growth rate for the current year is 57.3%. Shares of HOOD have gained 10.6% in the past three months. Robinhood Markets currently has a Zacks Rank #2 (Buy). Visa Inc. is taking a significant step toward modernizing cross-border money movement. V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain in a bid to enhance the efficiency of global transactions. This expansion of V includes a collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments. Visa’s expected earnings growth rate for the current year is 15.3%. Shares of V have gained 10.9% in the past three months. Visa currently carries a Zacks Rank #3 (Hold). HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. The company validates transactions on blockchain networks, as well as provides crypto mining and builds bridges between crypto and traditional capital markets. HIVE Blockchain’s expected earnings growth rate for the current year is 72.3%. Shares of HIVE have gained 0.6% in the past three months. HIVE presently carries a Zacks Rank #3. Why Haven’t You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Visa Inc. (V) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report HIVE Digital Technologies Ltd. (HIVE) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments", "For Immediate Release Chicago, IL – September 15, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. NVDA, Robinhood Markets, Inc. HOOD, Visa Inc. V and HIVE Blockchain Technologies Ltd. HIVE. Here are highlights from Thursday’s Analyst Blog: 4 Crypto Stocks in Focus as Interest Hike Fears Wane The cryptocurrency market has made a solid rebound this year after an unimpressive 2022. The Fed’s aggressive interest rate hike campaign last year to combat multi-decade high inflation impacted all major cryptocurrencies like Bitcoin, Ethereum, Cardano, Dogecoin and Litecoin. However, cryptocurrencies saw rangebound trading in August as multiple macroeconomic factors, including uncertainty over the Fed’s future course of action with its monetary tightening campaign, have made investors scramble for direction. In fact, Bitcoin price, which touched $31,500 in early July, has since retreated and was hovering around the $25,000 mark almost throughout August. However, on Sep 13, Bitcoin price once again surpassed the psychological level of $26,000, while Ethereum was trading at $1,615.4551. September is historically one of the worst months for markets but cryptocurrencies have so far shown resilience this time. The rebound comes on soaring optimism that the Fed might keep its interest rates unchanged in its September FOMC meeting. Earlier this week, the Wall Street Journal reported that Fed officials are now discussing whether further rate hikes are required this year as inflation has sharply declined over the past 12 months. The Fed increased interest rates by 525 basis points since March 2022, taking its benchmark interest to the range of 5.25-5.5%. The aggressive stance has seen inflation decline to more than half from its peak of 9.1% in June 2022. Historically, the price of Bitcoin has exhibited a notable correlation with the performance of the tech-heavy Nasdaq 100 stock index. This correlation exists because both tech stocks and cryptocurrencies are considered to be relatively risky assets, leading investors to respond in a similar manner when evaluating their investment strategies based on prevailing market conditions. Thus, a pause in rate hikes bodes well for the cryptocurrency market in the near term. Stocks in Focus NVIDIA Corp. is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence and the mining or production of cryptocurrencies. Story continues NVIDIA’s expected earnings growth rate for the current year is 219.5%. Shares of NVDA have gained 5.8% in the past three months. NVIDIA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here . Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform. Robinhood Markets’ expected earnings growth rate for the current year is 57.3%. Shares of HOOD have gained 10.6% in the past three months. Robinhood Markets currently has a Zacks Rank #2 (Buy). Visa Inc. is taking a significant step toward modernizing cross-border money movement. V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain in a bid to enhance the efficiency of global transactions. This expansion of V includes a collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments. Visa’s expected earnings growth rate for the current year is 15.3%. Shares of V have gained 10.9% in the past three months. Visa currently carries a Zacks Rank #3 (Hold). HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. The company validates transactions on blockchain networks, as well as provides crypto mining and builds bridges between crypto and traditional capital markets. HIVE Blockchain’s expected earnings growth rate for the current year is 72.3%. Shares of HIVE have gained 0.6% in the past three months. HIVE presently carries a Zacks Rank #3. Why Haven’t You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Visa Inc. (V) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report HIVE Digital Technologies Ltd. (HIVE) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments", 'Crypto mining providers Celsius and Core Scientific (CORZ) have reached a tentative $45 million deal to resolve a long-standing legal dispute, according to Thursday court filings . The deal, which involves Celsius paying $14 million in cash and the remainder in adjusted claims, must be approved by judges in Texas and New York, jurisdictions where Core and Celsius have respectively filed for bankruptcy. The settlement “resolves the protracted and expensive litigation with Core, and cuts off the significant costs that would have been incurred if the parties were to fully litigate their claims,” a filing by Celsius’ lawyers said, describing the deal – under which Celsius also acquires Cedarvale, an 85-acre Texas mining site – as a “fair, equitable, and a carefully negotiated resolution.” Celsius had previously filed claims of $312 million after Core powered down Celsius mining rigs in January, citing unpaid dues, and had previously filed motions saying Core should be held in contempt of court. Celsius creditors are voting on whether to approve a sale to crypto consortium Fahrenheit Holdings , a consortium that includes mining company US Bitcoin Corp. View comments', 'Crypto mining providers Celsius and Core Scientific (CORZ) have reached a tentative $45 million deal to resolve a long-standing legal dispute, according toThursday court filings.\nThe deal, which involves Celsius paying $14 million in cash and the remainder in adjusted claims, must be approved by judges in Texas and New York, jurisdictions where Core and Celsius have respectively filed for bankruptcy.\nThe settlement “resolves the protracted and expensive litigation with Core, and cuts off the significant costs that would have been incurred if the parties were to fully litigate their claims,” a filing by Celsius’ lawyers said, describing the deal – under which Celsius also acquires Cedarvale, an 85-acre Texas mining site – as a “fair, equitable, and a carefully negotiated resolution.”\nCelsius had previously filed claims of $312 million afterCore powered down Celsius mining rigsin January, citing unpaid dues, and had previously filed motions saying Core should be held in contempt of court.\nCelsius creditors are voting on whether to approve a sale to crypto consortiumFahrenheit Holdings, a consortium that includes mining company US Bitcoin Corp.', 'Bitcoin rose above US$26,500 on Friday afternoon in Asia. Ether and all other top 10 non-stablecoin cryptocurrencies gained, except BNB, the native token of world’s largest crypto exchange Binance. Tron and Toncoin led gains. See related article: Binance.US CEO calls it quits amid major layoffs Crypto market extends gains Bitcoin rose 0.87% to US$26,569 in 24 hours to 4 p.m. in Hong Kong, and gained 1.24% on the week, according to CoinMarketCap data. The world’s largest cryptocurrency’s market capitalization gained 1.46% to US$519.22 billion, while volume dropped 8.81%. “We may be on the verge of witnessing a significant price surge. I believe that Bitcoin could rise to US$28,660. With the continuous evolution of the cryptocurrency market, it’s not surprising that all eyes may turn toward Bitcoin’s ascent to the US$28,660 level,” said Rania Gule, market analyst at multi-asset brokerage firm XS.com. “However, while Bitcoin’s price is showing signs of upward strength, the overall trend on the price chart remains bearish as long as the price remains below the resistance level of US$29,500. Unless this trend reverses, a significant upward movement for Bitcoin is unlikely,” Gule said in an emailed statement on Friday. Ether, the second biggest cryptocurrency in the world, also gained 0.42% to US$1,627, but is still down 1.08% on the week. Tron gained the most, rising 3.4% to US$0.08395 in the past 24 hours and 6.06% in the last seven days. This was followed by Toncoin that strengthened 3.1% to US$1.94 and went up 9.15% on the week. The crypto market received a boost from news that Deutsche Bank — a German lender that had US$1.4 trillion in total assets at the end of 2022 — will launch custody services for cryptocurrencies and tokenized assets of institutional customers in a partnership with Swiss fintech firm Taurus, according to a Thursday press release . “As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike. As such, custodians must start adapting to support their clients,” Paul Maley, global head of securities services at Deutsche Bank, said in the announcement. Story continues BNB, the native token of largest crypto exchange Binance, was the only one to post losses, dropping 0.03% to US$212 in the past 24 hours, bringing its weekly losses to 2.23%. Brian Shroder, the chief executive officer of Binance U.S., left the company as it laid off one-third of its staff, or over 100 employees. The downsizing is expected to provide Binance.US more than seven years of financial runway. Binance U.S. has also been dealing with growing regulatory pressures in the U.S. and was sued by the Securities and Exchange Commission for allegedly breaching securities mandate. The total crypto market capitalization rose 0.76% to US$1.05 trillion while market volume dropped 4.18% to US$26.72 billion in the past 24 hours. NFT market drops The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index dropped 0.03% to 2,041.62 in 24 hours to 7 p.m. in Hong Kong, bringing its weekly losses to 4.49%. Forkast’s Ethereum index also dropped while Solana and Polygon indexes rose. Total NFT sales volume declined 13.48% to US$12.06 million, while NFT buying volumes increased 5.93% to US$48,312, according to CryptoSlam data . Among blockchains, the Ethereum network topped rankings although it dropped 21.03% to US$5.93 million in the past 24 hours. Mythos and Polygon blockchains ranked second and third respectively. Mythos-based DMarket topped rankings among collections, but dropped 1.07% to US$1.38 million. The SEC has imposed a fine of US$1 million on the makers of Stoner Cats 2 NFTs and its accompanying web series on charges of offering and selling unregistered securities as NFTs. Stoner Cats 2 has accepted the regulator’s cease-and-desist order and agreed to the US$1 million civil penalty. Asian markets, U.S. stock futures trade mixed; European bourses gain Image: Envato Elements Major Asian markets were mixed on Friday. China’s Shanghai Composite and Shenzhen Component Index dropped. South Korea’s Kospi , Hong Kong’s Hang Seng , and Japan’s Nikkei 225 strengthened at the end of trading hours. China’s August industrial production rose 4.5% year-on-year, compared to a 3.7% increase in July and beating expectations of 3.9%. This was also the strongest expansion in industrial output since April, after the world’s second largest economy announced a slew of measures to boost economic recovery. Meanwhile, China’s retail sales grew by 4.6% in August on year, compared to market expectations of a 3% growth. On Thursday, China’s central bank announced a 25 basis point reduction in the reserve requirement ratio – the amount of cash lenders must hold in reserve – for the second time this year. This does not apply to those that have already implemented a 5% reserve ratio. “Despite signs of stabilization in manufacturing and related investment, the deteriorating property investment will continue to pressure economic growth,” said Gary Ng, Natixis Asia Pacific senior economist, according to a Reuters report . U.S. stock futures were mixed as of 7.30 p.m. in Hong Kong on Friday. The Dow Jones Industrial Average futures and the S&P 500 futures gained, while the Nasdaq 100 Futures dropped. U.S. August retail sales rose 0.6% on month, above analysts’ expectation of 0.2%. However, the unexpected retail sales growth was largely due to the surge in oil prices, as receipts at gasoline stations gained 5.2% on the month. With gasoline excluded, retail sales edged up 0.2% in August, decelerating from 0.5% in July and among the weakest readings this year, according to Bloomberg on Thursday. European bourses gained on Friday afternoon in Europe with the benchmark STOXX 600 and Germany’s DAX 40 rising. The European Central Bank increased interest rates by 25 basis points on Thursday to a record 4%, marking the 10th consecutive hike. The central bank has been fighting to bring inflation back to a 2% target level. ( updates with equity section .)', 'Bitcoin rose above US$26,500 on Friday afternoon in Asia. Ether and all other top 10 non-stablecoin cryptocurrencies gained, except BNB, the native token of world’s largest crypto exchange Binance. Tron and Toncoin led gains. See related article: Binance.US CEO calls it quits amid major layoffs Crypto market extends gains Bitcoin rose 0.87% to US$26,569 in 24 hours to 4 p.m. in Hong Kong, and gained 1.24% on the week, according to CoinMarketCap data. The world’s largest cryptocurrency’s market capitalization gained 1.46% to US$519.22 billion, while volume dropped 8.81%. “We may be on the verge of witnessing a significant price surge. I believe that Bitcoin could rise to US$28,660. With the continuous evolution of the cryptocurrency market, it’s not
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-15
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $519,747,744,112
- Hash Rate: 506061817.4019002
- Transaction Count: 703692.0
- Unique Addresses: 1017545.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.45
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoiners rejoiced this week when KPMG, one of the “big four” worldwide accounting firms, published a report that underscored how the protocol can contribute in a positive manner to the three pillars of the ESG investing framework: environmental, social, and governance. KPMG’s research is pivotal, says CH4 Capital co-founder and renowned ESG analyst, Daniel Batten . “No matter what your view on ESG, demonstrating how Bitcoin makes positive contributions [to environment, social and governance initiatives] is critical to both mainstream and institutional comfort,” he told Decrypt. According to Batten , the KPMG report — titled “ Bitcoin’s role in the ESG Imperative ” —is an “important moment, because it represents for the first time a mainstream financial institution having gone through a thorough due diligence process on Bitcoin.” The report documents a deep dive in the framework’s three pillars, beginning with the environmental aspect of Bitcoin mining –the energy intensive and controversial process through which new BTC is created. KPMG says the mining industry “is focused on driving towards Net Zero emissions.” KPMG showcases how Bitcoin emissions compare to other key worldwide industries (such as tourism and fashion), elucidating it is a mere fraction. The publication outlines several strategies towards reducing the network's carbon footprint, including using renewable energy , and recycled heat among others. 'Unsubstantiated': Expert Refutes Greenpeace Bitcoin Mining Pollution Claims Batten, an expert on ESG matters, explained to Decrypt that he is surprised by the thoroughness of the report. “It's usual for reports to let certain folklore slip through the due diligence process such as ‘but Bitcoin takes renewable energy away from other users,’” he said, praising the KPMG team for the quality of their research and publishing what he considers to be “non-obvious truths.” The social aspect of the report touches upon the hotly debated “Bitcoin is for criminals ,” narrative, pointing to a recent Chainalysis report . U.S. Senator Elizabeth Warren has repeatedly asserted that cryptocurrency is a favored tool of criminals, fueling societal ills like the fentanyl epidemic . Story continues KPMG countered these claims with the opportunities the protocol presents for financial inclusion, such as crowdfunding Ukraine’s efforts in its war with Russia, providing access to electricity in Africa, and the role it plays for minorities around the world. Last but not least, KPMG addresses the governance aspect of Bitcoin, and the decentralized aspect of the network specifically, which it writes is one of its “most prominent features.” The report acknowledges that the network’s rules cannot be changed or modified by those in power, pointing to a “robust” governance structure that provides a “high degree of confidence” in the overall system. Robert F. Kennedy Jr: Bitcoin Energy Concerns Should Not Be Used as 'Smokescreen' to Limit Freedom The report concludes that Bitcoin provides a number of positive benefits under an ESG investing framework, and ends with a series of questions for ecosystem players–prompting users, miners and other organizations to assess their relationship to the ecosystem. “I think it's an important report and a milestone the ecosystem should celebrate,” Batten tells Decrypt. He remarked that “It's important people read reports put out by Bitcoin opponents,” although Batten reckons “there is still much work to be done, with several mainstream news channels continuing to publish misinformation about Bitcoin with impunity.” He concluded, however, that “this will improve education and help the intellectually curious person to form an informed viewpoint on the utility of Bitcoin.”...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['• US stocks fell on Friday as investors fret about a potential slowdown in the semiconductor space.\n• Reuters reported that Taiwan Semiconductor told its suppliers to delay some order shipments.\n• Investors are also turning their attention to the Federal Reserve\'s meeting next week.\nUS stocks fell on Friday as investors grew concerned about a potential slowdown in the semiconductor space.\nTechnology stocks led the decline after Reuters reported thatTaiwan Semiconductor told its suppliers to delay some order shipmentsamid concerns of a slowdown in the space. The iShares Semiconductor ETF sold off by more than 3% on Friday.\nTheUnited Auto Workers went on strike againstDetroit\'s top automakers. It represents the first time in history that employees at the Big 3 —Ford,General Motors, andStellantis— went on strike at the same time. Nearly 13,000 autoworkers are striking for increased pay amid the transition from gasoline-powered cars to electric vehicles.\nInvestors are now turning their attention to the Federal Reserve\'s meeting next week. Markets currently expect the Fed to hold interest rates steady as inflation shows signs of cooling down.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Friday:\n• S&P 500:4,450.32, down 1.22%\n• Dow Jones Industrial Average:34,618.24, down 0.83% (288.87 points)\n• Nasdaq Composite:13,708.33, down 1.56%\nHere\'s what else happened today:\n• US corporate debt defaults surged 176%as the Fed\'s war on inflation pushes more companies into financial distress.\n• Billionaire hedge-fund managerKen Griffin said he\'s unsure if the stock market rally can last,adding that he\'s "a bit anxious" about this year\'s strong gains.\n• Short-sellerJim Chanos is still betting against Teslasaying the stock is "ridiculously overvalued."\n• China\'s house-price slump drags onas Beijing battles to shore up the country\'s crisis-hit property sector.\n• Cocaine is set to become Colombia\'s top export this year,edging out oil products, according to a note from Bloomberg Economics.\n• Nearly 16% of home sale deals in August were canceled,the highest rate since last October, as mortgage rates stay above 7%, Redfin reported.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 0.96% to $91.03 a barrel.Brent crude, the international benchmark, edged up 0.39% to $94.07 a barrel.\n• Goldclimbed 0.68% to $1,945.90 per ounce.\n• The yield on the 10-year Treasury bond rose three basis points to 4.33%.\n• Bitcoinfell 0.41% to $26,423.\nRead the original article onBusiness Insider', 'US stocks fell on Friday as investors fret about a potential slowdown in the semiconductor space. Reuters reported that Taiwan Semiconductor told its suppliers to delay some order shipments. Investors are also turning their attention to the Federal Reserve\'s meeting next week. US stocks fell on Friday as investors grew concerned about a potential slowdown in the semiconductor space. Technology stocks led the decline after Reuters reported that Taiwan Semiconductor told its suppliers to delay some order shipments amid concerns of a slowdown in the space. The iShares Semiconductor ETF sold off by more than 3% on Friday. The United Auto Workers went on strike against Detroit\'s top automakers. It represents the first time in history that employees at the Big 3 — Ford , General Motors , and Stellantis — went on strike at the same time. Nearly 13,000 autoworkers are striking for increased pay amid the transition from gasoline-powered cars to electric vehicles. Investors are now turning their attention to the Federal Reserve\'s meeting next week. Markets currently expect the Fed to hold interest rates steady as inflation shows signs of cooling down. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Friday: S&P 500 : 4,450.32, down 1.22% Dow Jones Industrial Average : 34,618.24, down 0.83% (288.87 points) Nasdaq Composite : 13,708.33, down 1.56% Here\'s what else happened today: US corporate debt defaults surged 176% as the Fed\'s war on inflation pushes more companies into financial distress. Billionaire hedge-fund manager Ken Griffin said he\'s unsure if the stock market rally can last, adding that he\'s "a bit anxious" about this year\'s strong gains. Short-seller Jim Chanos is still betting against Tesla saying the stock is "ridiculously overvalued." China\'s house-price slump drags on as Beijing battles to shore up the country\'s crisis-hit property sector. Cocaine is set to become Colombia\'s top export this year, edging out oil products, according to a note from Bloomberg Economics. Nearly 16% of home sale deals in August were canceled, the highest rate since last October, as mortgage rates stay above 7%, Redfin reported. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 0.96% to $91.03 a barrel. Brent crude , the international benchmark, edged up 0.39% to $94.07 a barrel. Gold climbed 0.68% to $1,945.90 per ounce. The yield on the 10-year Treasury bond rose three basis points to 4.33%. Bitcoin fell 0.41% to $26,423. Read the original article on Business Insider']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-16
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $517,742,239,500
- Hash Rate: 417231817.5388007
- Transaction Count: 593144.0
- Unique Addresses: 876224.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.43
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Investing.com -- U.S. stocks point higher ahead of a week of major corporate results and key economic data. Amazon and Apple are set to round out a multi-week crush of earnings from Big Tech, while nonfarm payroll figures for July could provide clues into the impact of over a year of Federal Reserve policy tightening. 1. Futures edge higher U.S. stock futures inched up on Monday, but stayed close to the flatline, as investors looked ahead to a fresh batch of tech earnings and key U.S. employment data this week. At 05:12 ET (09:12 GMT), the Dow futures contract had gained 18 points or 0.05%, S&P futures added 4 points or 0.08%, and Nasdaq 100 futures moved up by 8 points or 0.05%. The main indices remain on track to post monthly gains before the final trading day of July. The Dow Jones Industrial Average, which saw its longest win streak since 1987 snapped last week, is up 3.1% this month, while the S&P 500 has climbed 3% and the tech-heavy Nasdaq Composite has added 3.8%. As July turns to August, traders are awaiting earnings later in the week from Amazon and Apple, as well as chipmakers AMD (NASDAQ:AMD) and Qualcomm (NASDAQ:QCOM). Meanwhile, the crucial U.S. nonfarm payrolls report for July is due out on Friday, with economists predicting that the world's biggest economy added fewer jobs compared to the prior month. 2. Amazon and Apple results ahead E-commerce giant Amazon (NASDAQ:AMZN) and iPhone-maker Apple (NASDAQ:AAPL) will both report their latest quarterly results on Thursday, rounding out a wave of closely-watched Big Tech earnings in recent weeks. Focus will likely hover around how the companies' revenue flows fared during a three-month period marked by economic uncertainty that has persuaded some businesses and individuals to rein in spending. For Amazon, attention will likely turn to its all-important cloud computing unit, Amazon Web Services , where growth decelerated in the previous quarter. Amazon has also flagged that the slowdown at the division continued into April. Story continues Apple, meanwhile, will deliver its first results since the unveiling of its highly-anticipated Vision Pro headset in June. Despite the excitement around the device, weaker consumer demand is expected to weigh on other products like the iPhone and iPad. Analysts may also be keen to question Amazon and Apple executives about their plans for artificial intelligence (AI). Last week, tech peers Microsoft (NASDAQ:MSFT), Facebook-owner Meta Platforms (NASDAQ:META), and Google-parent Alphabet (NASDAQ:GOOGL) cautioned that spending levels may soon rise as they race to develop AI tools. 3. U.S. jobs report highlights economic calendar Hiring in the U.S. is projected to have slowed in July, but the job market is expected to remain relatively tight even in the face of aggressive Federal Reserve interest rate hikes. Economists predict that total nonfarm employment rose by 200,000 during the month, down from the June reading of 209,000, while the jobless rate is expected to remain steady at 3.6%. The labor market has been a major focus of the Fed's long-standing monetary tightening campaign, with policymakers arguing that a loosening in employer demand could help alleviate inflationary pressures. The Fed increased interest rates by 25 basis points last week, but suggested that any future decisions would be "data-dependent." Despite signs of moderation, job growth has remained robust in recent months. The strength has in turn fueled speculation that the Fed may be able to engineer a so-called "soft landing" -- corralling inflation without sparking a meltdown in the broader economy. Friday's figures may provide more clarity on this key question. 4. SEC asked Coinbase to halt all non-Bitcoin trading - FT The U.S. Securities and Exchange Commission requested that Coinbase (NASDAQ:COIN) cease trading in all digital tokens except for Bitcoin prior to filing a lawsuit against the cryptocurrency exchange, according to the Financial Times. In an interview, Coinbase Chief Executive Brian Armstrong told the paper that the SEC "said...we believe every asset other than bitcoin is a security." Armstrong added that the regulators then asked that Coinbase delist all of the more than 200 tokens it offers to customers, apart from Bitcoin. Armstrong refuted the claim, saying that agreeing to the shutdowns "would have essentially meant the end of the crypto industry in the U.S." Instead, he said Coinbase decided to challenge the SEC's assertions in court. The SEC has been angling to gain more control over the crypto industry, with Chair Gary Gensler arguing that most cryptocurrencies qualify as securities, or tradeable financial assets. Coinbase was sued by the SEC last month for failing to register as a broker. Should the SEC win this case, it could set a precedent for the power regulators in the U.S. have over crypto businesses and potentially lead to more stringent compliance rules. For its part, the SEC told the FT that its enforcement division did not make formal requests for "companies to delist crypto assets." It also declined to comment on what the delisting would mean for the crypto industry. 5. Walmart boosts Flipkart stake - WSJ Retail giant Walmart (NYSE:WMT) has further cemented its interest in Flipkart through a $1.4 billion purchase of shares from a major investor in the Indian e-commerce group, according to the Wall Street Journal. Walmart bought New York-based hedge fund Tiger Global's remaining shares in Flipkart, the paper reported, citing a letter sent by Tiger to its investors. The transaction valued Flipkart at $35B, down from the almost $38B attached by Tiger to the company in 2021. Meanwhile, Walmart also bought out private equity firm Accel's remaining 1% stake in Flipkart, the Economic Times newspaper reported, although the size of the purchase was unknown. The moves boost Walmart's exposure to Flipkart at a time when the Arkansas-based company is looking to expand its presence in the digital commerce space. Walmart paid $16B more than five years ago for an initial 77% stake in Flipkart, a wide-ranging business catering to more than 450 million customers. Related Articles Amazon and Apple earnings ahead, U.S. jobs report looms -- what's moving markets Analysis-Dwindling excess savings could scupper markets' soft-landing hopes Canada's Trudeau sets sights on fourth election fight with Cabinet refresh...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['New blockchain use cases are showcasing the technology’s potential to disrupt industries, even as the extended cryptocurrency bear market continues to bite. From non-fungible tokens (NFT) tickets and wing sponsorships to digital art exhibitions, this weekend’s Singapore Grand Prix will showcase the best of a new wave of crypto innovations.\nCrowds flock from around the world to watch the night race around the iconic Marina Bay Circuit. The race was attended by302,000 spectatorsin 2022 and the sport boasts a global fan base many times larger, with each race attracting an average worldwide TV audience of70 million.\nThis makes Formula One a shop window for brands and ideas, particularly those at the forefront of innovation. A host of events take place in Singapore to coincide with the race, including this week’sTOKEN2049conference, and Affyn’sWeb3.0 | Art Meets Metaverseevent on September 16. The vibe is more about innovation than speculation.It’s a marked change from the heady days of 2021 when crypto exchanges signed dozens of high-profile, multi-million dollar sponsorship deals with almost every Formula One (F1) team. By the start of the 2022 season, there were16 official crypto team sponsors, in addition to Crypto.com, who became the flagship sponsor of the races themselves.\nWhile not all sponsorship money has dried up, these new innovations reflect an industry and a sport that has reached a greater level of maturity, focusing on products with tangible use cases rather than dangling the promise of instant riches in front of its fans.\n“The FTX crash has brought the crypto industry back to the ground, making it like every other industry on the planet that has to demonstrate fundamentals to attract money,” said Thomas Vartanian, executive director at the Financial Technology & Cybersecurity Center, a non-profit policy advocate based in Virginia, U.S.Honeymoon: the glory days\n“There’s something very special about sports,” said Steven Kalifowitz, chief marketing officer at Crypto.com, a Singapore-based exchange. “It’s a communal experience which has the ability to bring people together even if they aren’t sitting next to each other.”\nCrypto.com wasthe industry’s first companyto take the plunge into F1 sponsorship. Their name can be seen on hoardings around every circuit on the Grand Prix calendar, as well as on the cars of the Aston Martin Cognizant racing team.\nF1 is by no means the only sport to catch the interest of Kalifowitz — he cited the exchange’s commercial partnerships with the UFC and NBA in the U.S.; Serie A soccer league in Italy, and with the Australian Football League as a measure of the company’s reach. They also sponsored the multi-purpose Crypto.com Arena in Los Angeles, as well as the 2022 FIFA World Cup in Qatar.\nBut there’s something about the relationship with F1 that is special.\nIn many ways the industry and the sport are perfect bedfellows. The fact that the sport puts “technology and innovation at its core” is particularly appealing, Kalifowitz said. He went on to cite F1’s international audience — with 20 races spread over five continents and a wildly popular Netflix show, Drive to Survive — and the fact that they are generally “young and tech-savvy,” as reasons that make it so attractive to crypto sponsors.\nThe average age of Formula One fans is just 32, according to asurveyof 167,000 fans conducted across 180 countries in October 2021. Males accounted for 81.7% of those fans.\nPaul Asencio, chief revenue officer at the Williams F1 team, said that these overlaps make F1 fans the “perfect demographic” for crypto sponsors. \u200b\u200b“F1 fans are 75% more likely to own cryptocurrency than the average sports fan out there.” he said, adding that Williams’ data show that there are over 85 million Formula One fans who are also crypto investors.\nCrypto.com was the first of many. By the 2022 season, every racing team had their own crypto sponsor. Other major exchanges like Binance partnered with Alpineto issue 280,000 fan tokens, while Dubai-headquartered Bybit sponsored the championship-winning Red Bull team in athree-year dealworth US$150 million.\nBut as anyone who has followed crypto knows only too well, the honeymoon did not last.\nRelationship on the rocks\nBut the industry has been “experiencing some headwinds,” said Crypto.com’s Kalifowitz.\nThis is putting it mildly. As with so much else in the industry, the problems began with the bear market of 2022. The collapse of the FTX exchange, which was hit by a liquidity crisis and subsequently forced to file for bankruptcy with an US$8 billion black hole in its finances, left one team in particular in hot water.\nThe Mercedes-AMG team is the New York Yankees or the Manchester United of F1. They were sought by FTX as a blue-chip sponsor, a partnership designed to give both brands credibility. The sudden collapse of the exchange caught Mercedes by surprise; they quickly removed the FTX logo from their cars and scrapped their multi-year deal with the exchange.\nMercedes did not respond to comments for this article. At the time of the partnership collapse, Mercedes team boss Toto Wolfftold Motorsport.comthat, despite “strongly believing in blockchain as a way of transactions in the future,” the collapse of FTX had left him in “utter disbelief.”\n“We considered FTX because they were one of the most credible and solid, financially sound partners that were out there. And out of nowhere, you can see that a crypto company can basically be on its knees and gone in one week,” he said.\nWe considered FTX because they were one of the most credible and solid, financially sound partners that were out there. And out of nowhere, you can see that a crypto company can basically be on its knees and gone in one week\nThe sudden collapse saw many teams reviewing their ties with the industry. Mercedes was soon joined by Alpha Tauri and Ferrari in shedding their crypto sponsors, with the Italian teamcutting its commercial tieswith blockchain company Velas in January 2023, leaving them with an estimated shortfall of US$30 million this year alone.\nThe surviving exchanges continue to strike a reassuring tone. “Trust in our brand is very high,” maintains Kalifowitz at Crypto.com. “Our balance sheet is strong and we remain focussed on building around our core principles of regulation, trust and security.” He added that the exchange “remains fully committed to its sports partnerships, many of which are long-term deals.”\nNot everyone is convinced.\n“FTX and the shakeout that accompanied it, along with the bear market, should naturally cause corporations to reevaluate their marketing and sponsorships. That shouldn’t be a surprise,” said Vartanian of the Virginia-based non-profit. He added that an additional question is one of “liability for endorsement of products that blow up,” as with the case of FTX and Mercedes.\n“The reputational factor shifts depending on the industry – banks will be more reluctant than barbers\xa0 – but you would have to be living in a cave not to be concerned about the reputational aspects of crypto until this period shakes out,” he added.\nMarriage counseling: repairing reputation\nHowever, one team that did not cut ties was Williams F1, who in March went against the tide andinked a new dealwith the Kraken crypto exchange.\nWilliams-F1’s chief revenue officer Paul Asencio has seen all this before. “I have been doing this for 25 years, starting with the New York Mets in baseball. I’ve been through it more times than I’d like to remember.”\n“It is our job to mitigate that risk as best as possible. But anything can happen to any one of these companies we do business with. At the end of the day, what you need to do is protect yourself as best as possible, and that is doing the right due diligence,” said Ascensio.\nEvident in Williams’ marketing strategy is a search, not merely for the dollars that crypto sponsorship can bring, but also to create a sense of community with their fanbase.\nAt this season’s U.S. Grand Prix in October, Williams’ cars will play host topersonalized NFTs on their rear wings. Fans are invited to submit NFT designs, 20 of which will eventually be chosen and fans allowed to vote for their favorite on Twitter.\nSome might argue that such campaigns are a little gimmicky – could a similar competition not be held without a blockchain? But when asked whether the NFT technology was essential to this venture, Asencio responded that it was “integral” to the kind of brand they’re trying to build with their sponsor. “It was really important to Kraken to have their community be part of this partnership,” he said.\nAsencio said that he sees the relationship as, “not just a standard F1 sponsorship, but truly a marketing partnership together where we’re both going to benefit. This NFT on the rear wing is an excellent example of that. It’s creative, it’s different. Nobody else is doing it.”\nThis drive to utility is something that is being embraced across the sport. In this year’s Monaco Grand Prix in May, the sport’s leading ticket provider, Platinum,used blockchain technologyto offer fans NFT tickets.\nThe idea was taken a step further at the Dutch Grand Prix in late August, where NFT-technology was used to provide fans with a series of interactive digital collectibles as part of their race ticket packages.\nThe use of the word collectibles here is no coincidence. “We very specifically call them collectibles, not NFTs.” said Maarten Bloemers, CEO of GET Protocol, the product’s designer. “I’m a crypto guy, but do I describe myself as such to potential clients? Hell, no. The reputational damage that crypto has suffered is enormous. People are very wary of getting into bed with a crypto company.”\nThe reputational damage that crypto has suffered is enormous. People are very wary of getting into bed with a crypto company\nBloemers’ concerns stem from the fact that NFTs have performed even worse than more well known cryptocurrencies during the bear market. According to Forkast Labs’ flagshipNFT 500 Index, the average NFT has dropped in value by 93.43% since the heights of the market in January 2022. The slump has showed no signs of abating either: while the likes of Bitcoin have seen a recovery in 2023, sales of NFTs havedropped by 49%this year alone.\nBloemers believes the way to overcome this is to avoid the association with the NFT acronym altogether. “We basically sell it as a blank canvas,” he said. “What we want to do is bring the technology to the general public without friction. They don’t have to know that it’s a blockchain. They don’t have to really know anything about it. They need to push a button and see magic.”\nHe foresees these digital collectibles as initially providing the basis for a loyalty scheme (which could eventually be expanded to create a regulated secondary market for tickets); as a means to access interactive features on race day, such as a real-time prediction market; or for voting for driver of the day.\nThe collectible ticket was offered as a free opt-in to everyone who bought a ticket, with almost a quarter of the 100,000 spectators choosing to interact with the collectible.\nBloemers suspected that many of those were already converted. “I expect that a lot of the adoption will be basically nerdy boys like me, right? But again, it really depends on the utility. If we want to drive people to Web3, they will be prepared to go through an extra step or two if there is something at the end of the tunnel for them. Getting the general public to adopt this technology in the same way as email or the Internet means you need to build products that actually add value to the general public without adding friction.”\n(Updates to correct that Crypto.com partnered with the NBA)', 'New blockchain use cases are showcasing the technology’s potential to disrupt industries, even as the extended cryptocurrency bear market continues to bite. From non-fungible tokens (NFT) tickets and wing sponsorships to digital art exhibitions, this weekend’s Singapore Grand Prix will showcase the best of a new wave of crypto innovations. Crowds flock from around the world to watch the night race around the iconic Marina Bay Circuit. The race was attended by 302,000 spectators in 2022 and the sport boasts a global fan base many times larger, with each race attracting an average worldwide TV audience of 70 million . This makes Formula One a shop window for brands and ideas, particularly those at the forefront of innovation. A host of events take place in Singapore to coincide with the race, including this week’s TOKEN2049 conference, and Affyn’s Web3.0 | Art Meets Metaverse event on September 16. The vibe is more about innovation than speculation. It’s a marked change from the heady days of 2021 when crypto exchanges signed dozens of high-profile, multi-million dollar sponsorship deals with almost every Formula One (F1) team. By the start of the 2022 season, there were 16 official crypto team sponsors , in addition to Crypto.com, who became the flagship sponsor of the races themselves. A host of events take place in Singapore to coincide with this year’s Formula One race, including the TOKEN2049 conference, and Affyn’s Web3.0 | Art Meets Metaverse event on Sept. 16. While not all sponsorship money has dried up, these new innovations reflect an industry and a sport that has reached a greater level of maturity, focusing on products with tangible use cases rather than dangling the promise of instant riches in front of its fans. “The FTX crash has brought the crypto industry back to the ground, making it like every other industry on the planet that has to demonstrate fundamentals to attract money,” said Thomas Vartanian, executive director at the Financial Technology & Cybersecurity Center, a non-profit policy advocate based in Virginia, U.S. Honeymoon: the glory days “There’s something very special about sports,” said Steven Kalifowitz, chief marketing officer at Crypto.com, a Singapore-based exchange. “It’s a communal experience which has the ability to bring people together even if they aren’t sitting next to each other.” Crypto.com was the industry’s first company to take the plunge into F1 sponsorship. Their name can be seen on hoardings around every circuit on the Grand Prix calendar, as well as on the cars of the Aston Martin Cognizant racing team. Crypto.com was the industry’s first company to take the plunge into F1 sponsorship. Image: Crypto.com F1 is by no means the only sport to catch the interest of Kalifowitz — he cited the exchange’s commercial partnerships with the UFC and NBA in the U.S.; Serie A soccer league in Italy, and with the Australian Football League as a measure of the company’s reach. They also sponsored the multi-purpose Crypto.com Arena in Los Angeles, as well as the 2022 FIFA World Cup in Qatar. Story continues But there’s something about the relationship with F1 that is special. In many ways the industry and the sport are perfect bedfellows. The fact that the sport puts “technology and innovation at its core” is particularly appealing, Kalifowitz said. He went on to cite F1’s international audience — with 20 races spread over five continents and a wildly popular Netflix show, Drive to Survive — and the fact that they are generally “young and tech-savvy,” as reasons that make it so attractive to crypto sponsors. The average age of Formula One fans is just 32, according to a survey of 167,000 fans conducted across 180 countries in October 2021. Males accounted for 81.7% of those fans. Paul Asencio, chief revenue officer at the Williams F1 team, said that these overlaps make F1 fans the “perfect demographic” for crypto sponsors. \u200b\u200b“F1 fans are 75% more likely to own cryptocurrency than the average sports fan out there.” he said, adding that Williams’ data show that there are over 85 million Formula One fans who are also crypto investors. Crypto.com was the first of many. By the 2022 season, every racing team had their own crypto sponsor. Other major exchanges like Binance partnered with Alpine to issue 280,000 fan tokens , while Dubai-headquartered Bybit sponsored the championship-winning Red Bull team in a three-year deal worth US$150 million. But as anyone who has followed crypto knows only too well, the honeymoon did not last. Woman watching football on TV Relationship on the rocks But the industry has been “experiencing some headwinds,” said Crypto.com’s Kalifowitz. This is putting it mildly. As with so much else in the industry, the problems began with the bear market of 2022. The collapse of the FTX exchange, which was hit by a liquidity crisis and subsequently forced to file for bankruptcy with an US$8 billion black hole in its finances, left one team in particular in hot water. The Mercedes-AMG team is the New York Yankees or the Manchester United of F1. They were sought by FTX as a blue-chip sponsor, a partnership designed to give both brands credibility. The sudden collapse of the exchange caught Mercedes by surprise; they quickly removed the FTX logo from their cars and scrapped their multi-year deal with the exchange. Mercedes did not respond to comments for this article. At the time of the partnership collapse, Mercedes team boss Toto Wolff told Motorsport.com that, despite “strongly believing in blockchain as a way of transactions in the future,” the collapse of FTX had left him in “utter disbelief.” “We considered FTX because they were one of the most credible and solid, financially sound partners that were out there. And out of nowhere, you can see that a crypto company can basically be on its knees and gone in one week,” he said. We considered FTX because they were one of the most credible and solid, financially sound partners that were out there. And out of nowhere, you can see that a crypto company can basically be on its knees and gone in one week Mercedes team boss Toto Wolff The sudden collapse saw many teams reviewing their ties with the industry. Mercedes was soon joined by Alpha Tauri and Ferrari in shedding their crypto sponsors, with the Italian team cutting its commercial ties with blockchain company Velas in January 2023, leaving them with an estimated shortfall of US$30 million this year alone. The surviving exchanges continue to strike a reassuring tone. “Trust in our brand is very high,” maintains Kalifowitz at Crypto.com. “Our balance sheet is strong and we remain focussed on building around our core principles of regulation, trust and security.” He added that the exchange “remains fully committed to its sports partnerships, many of which are long-term deals.” Not everyone is convinced. “FTX and the shakeout that accompanied it, along with the bear market, should naturally cause corporations to reevaluate their marketing and sponsorships. That shouldn’t be a surprise,” said Vartanian of the Virginia-based non-profit. He added that an additional question is one of “liability for endorsement of products that blow up,” as with the case of FTX and Mercedes. “The reputational factor shifts depending on the industry – banks will be more reluctant than barbers\xa0 – but you would have to be living in a cave not to be concerned about the reputational aspects of crypto until this period shakes out,” he added. Marriage counseling: repairing reputation However, one team that did not cut ties was Williams F1, who in March went against the tide and inked a new deal with the Kraken crypto exchange. Williams-F1’s chief revenue officer Paul Asencio has seen all this before. “I have been doing this for 25 years, starting with the New York Mets in baseball. I’ve been through it more times than I’d like to remember.” “It is our job to mitigate that risk as best as possible. But anything can happen to any one of these companies we do business with. At the end of the day, what you need to do is protect yourself as best as possible, and that is doing the right due diligence,” said Ascensio. Kraken official logo Evident in Williams’ marketing strategy is a search, not merely for the dollars that crypto sponsorship can bring, but also to create a sense of community with their fanbase. At this season’s U.S. Grand Prix in October, Williams’ cars will play host to personalized NFTs on their rear wing s. Fans are invited to submit NFT designs, 20 of which will eventually be chosen and fans allowed to vote for their favorite on Twitter. Some might argue that such campaigns are a little gimmicky – could a similar competition not be held without a blockchain? But when asked whether the NFT technology was essential to this venture, Asencio responded that it was “integral” to the kind of brand they’re trying to build with their sponsor. “It was really important to Kraken to have their community be part of this partnership,” he said. Asencio said that he sees the relationship as, “not just a standard F1 sponsorship, but truly a marketing partnership together where we’re both going to benefit. This NFT on the rear wing is an excellent example of that. It’s creative, it’s different. Nobody else is doing it.” This drive to utility is something that is being embraced across the sport. In this year’s Monaco Grand Prix in May, the sport’s leading ticket provider, Platinum, used blockchain technology to offer fans NFT tickets. The idea was taken a step further at the Dutch Grand Prix in late August, where NFT-technology was used to provide fans with a series of interactive digital collectibles as part of their race ticket packages. The use of the word collectibles here is no coincidence. “We very specifically call them collectibles, not NFTs.” said Maarten Bloemers, CEO of GET Protocol, the product’s designer. “I’m a crypto guy, but do I describe myself as such to potential clients? Hell, no. The reputational damage that crypto has suffered is enormous. People are very wary of getting into bed with a crypto company.” The reputational damage that crypto has suffered is enormous. People are very wary of getting into bed with a crypto company Maarten Bloemers, CEO of GET Protocol Bloemers’ concerns stem from the fact that NFTs have performed even worse than more well known cryptocurrencies during the bear market. According to Forkast Labs’ flagship NFT 500 Index , the average NFT has dropped in value by 93.43% since the heights of the market in January 2022. The slump has showed no signs of abating either: while the likes of Bitcoin have seen a recovery in 2023, sales of NFTs have dropped by 49% this year alone. Bloemers believes the way to overcome this is to avoid the association with the NFT acronym altogether. “We basically sell it as a blank canvas,” he said. “What we want to do is bring the technology to the general public without friction. They don’t have to know that it’s a blockchain. They don’t have to really know anything about it. They need to push a button and see magic.” He foresees these digital collectibles as initially providing the basis for a loyalty scheme (which could eventually be expanded to create a regulated secondary market for tickets); as a means to access interactive features on race day, such as a real-time prediction market; or for voting for driver of the day. The collectible ticket was offered as a free opt-in to everyone who bought a ticket, with almost a quarter of the 100,000 spectators choosing to interact with the collectible. Bloemers suspected that many of those were already converted. “I expect that a lot of the adoption will be basically nerdy boys like me, right? But again, it really depends on the utility. If we want to drive people to Web3, they will be prepared to go through an extra step or two if there is something at the end of the tunnel for them. Getting the general public to adopt this technology in the same way as email or the Internet means you need to build products that actually add value to the general public without adding friction.” (Updates to correct that Crypto.com partnered with the NBA) View comments', 'In this article, we will take a look at the 15 penny stocks with biggest upside. To see more such companies, go directly to 5 Penny Stocks with Biggest Upside . Everyone wants to find stocks with upside. But the stock market turmoil that started back in 2022 amid rising inflation and interest rate hikes has shown the importance of managing risks and investing wisely in stocks for the long term. Value investors like Warren Buffett and Howard Marks time and again talk about the concept of downside protection, emphasizing that one of the biggest goals during investing should be not to lose money. A 2016 report entitled “ The Upside of Less Downside” by Alliance Bernstein talks about a similar concept. The report said that at the time that the fear of losing money is rapidly increasing worldwide amid changing demographics. As global population begins to age, people are hesitant to take risks and put large amounts of money in equities because they don’t want to lose their safety nets during retirement. The report then talks about a 90/70 upside/downside portfolio and says: “Imagine a hypothetical global stock portfolio that captured 90% of every market rally and fell only 70% as much as the market during every sell-off. What would the long-term returns of this portfolio look like? You’d be forgiven if you thought it would underperform. It wouldn’t.” "Smoother Ride" Portfolio The report calls the portfolio of upside/downside protection as “smoother ride” portfolio. The report analyzes a hypothetical portfolio based on this strategy and says that the portfolio would build capital of nearly US$13,000 over the period examined. The examined period spanned over 40 years through the end of June. The report however points out some caveats and challenges of having a 90%/70% upside/downside spread approach. First, it’s not easy at all to stick to such a portfolio especially when markets are rising. Investing in low-risk stocks means you are missing out on stock returns when the overall market is in euphoria. But the true mettle of this portfolio is visible during tough times, when markets are down and the downside protected, low risk portfolio is outperforming the market. The report also said that finding low-risk stocks is not easy. While Alliance Bernstein said it believes in investing in resilient companies with strong business models and attractive prices, the firm acknowledged that it’s easier said than done. The report also mentions some data on why investing in low-risk stocks makes sense. Story continues “Research going back to the early 1970s shows that lower-risk stocks, as measured by beta, performed much better than the CAPM would predict. By focusing on absolute risk (a.k.a. the Sharpe ratio), the long-term returns of strategies with less volatile stocks have matched or outperformed the market and more aggressive equity strategies over four decades. Based on Sharpe ratios, lower-risk stocks have delivered significantly more return per unit of risk.” How to Find Resilient Companies to Invest In The report also gives examples of resilient and strong businesses. It talks about companies like Alphabet and Amadeus. It also talks about software companies that provide tools and systems for mission critical applications. Once these software are installed in companies\' systems it becomes difficult for the firms to make a shift. The report emphasizes the importance of disruption and evaluating “network effect” while finding strong and resilient businesses. Penny Stocks with Biggest Upside Pixabay/Public Domain Our Methodology For this article, we consulted over 10 mainstream financial websites to see which penny stocks they believe have the biggest upside. We picked only those penny stocks that are repeatedly talked about in the mainstream financial media as companies having long-term growth potential and upside. The list is ranked in ascending order of the number of hedge fund investors. We gauged hedge fund sentiment using Insider Monkey’s database of 910 hedge funds and their holdings. Penny Stocks with Biggest Upside According to Financial News Media 15. Bit Digital, Inc. (NASDAQ: BTBT ) Number of Hedge Fund Holders: 4 Bitcoin mining company Bit Digital, Inc. (NASDAQ:BTBT) ranks 15th in our list of penny stocks with upside potential. As of the end of the second quarter of 2023, 4 hedge funds tracked by Insider Monkey had stakes in Bit Digital, Inc. (NASDAQ:BTBT). Bit Digital, Inc. (NASDAQ:BTBT) produced 139 bitcoins (BTC-USD) in August, which was a 5% increase from July, 14. Canaan Inc. (NASDAQ: CAN ) Number of Hedge Fund Holders: 4 Chinese hardware company Canaan Inc. (NASDAQ:CAN) is one of the notable penny stocks with upside potential. Last month Canaan Inc. (NASDAQ:CAN) posted second quarter results. GAAP EPS in the quarter came in at -$0.65 missing estimates by $0.51. Revenue in the quarter came in at $73.9 million, beating estimates by $3.03 million. Bitcoin mining revenues jumped 43.3% on a QoQ basis. As of the end of the second quarter of 2023, 4 hedge funds in Insider Monkey’s database of hedge funds had stakes in Canaan Inc. (NASDAQ:CAN). 13. Paysign, Inc. (NASDAQ: PAYS ) Number of Hedge Fund Holders: 6 Prepaid card products company Paysign, Inc. (NASDAQ:PAYS) ranks 13th in our list of the penny stocks with the biggest upside. Last month Paysign, Inc. (NASDAQ:PAYS) posted second quarter results. Revenue of the company jumped about 28% year over year to $11 million. A total of 6 hedge funds in Insider Monkey’s database reported owning stakes in Paysign, Inc. (NASDAQ:PAYS). The biggest stakeholder of Paysign, Inc. (NASDAQ:PAYS) during this period was Citadel Investment Group of Ken Griffin which had a $595,632 stake in Paysign, Inc. (NASDAQ:PAYS). 12. Smith Micro Software, Inc. (NASDAQ: SMSI ) Number of Hedge Fund Holders: 6 Smith Micro Software, Inc. (NASDAQ:SMSI) is an enterprise and consumer software company. This penny stock has upside potential, according to credible financial websites and analysts surveyed by Insider Monkey. Last month Smith Micro Software, Inc. (NASDAQ:SMSI) posted second quarter results. Adjusted EPS in the quarter came in at -$0.01, meeting estimates. Revenue in the quarter fell 18.4% year over year to $10.34 million, missing estimates by $0.32 million. 11. Science 37 Holdings, Inc. (NASDAQ: SNCE ) Number of Hedge Fund Holders: 8 Clinical research company Science 37 Holdings, Inc. (NASDAQ:SNCE) ranks 11th in our list of penny stocks with the biggest upside according to financial media. Science 37 Holdings, Inc. (NASDAQ:SNCE)’s management talked about its guidance and future plans in the latest earnings call and said: "And we expect our fourth quarter to be sequentially higher on a revenue basis based on the timing of our new study starts and project ramps. While we will hold off providing 2024 guidance until a later date, given our current momentum and facility, we expect solid continuing revenue growth in 2024. Turning to our gross margin guidance we indicated during our last quarterly earnings call that we expected adjusted gross margins to improve from the low 20% range in the first quarter of 2023 to the low to mid-30% range in the second half of 2023. We achieved the top end of that range at 36% in the second quarter, and we expect to stay in the mid-30% range for the remainder of this year. On the first quarter earnings call, we also indicated we expected to see a sequential reduction in SG&A and a more dramatic reduction in cash burn exiting the fourth quarter with a cash burn of less than $10 million. As David noted, we are tracking ahead of this from an expectation standpoint and now anticipate our cash burn in the third quarter to be less than $10 million, 1 quarter ahead of schedule. We expect our cash burn for the full second half of 2023 to be less than $15 million, thus exiting 2023, with more than $50 million of cash on hand. As we progress into 2024, we expect our investments in technology, further increases in utilization and continued process improvements to help us expand quarterly gross margins to 40% or greater delivering a higher gross profit on a relatively fixed level of SG&A, and thereby ending the fourth quarter of 2024 with positive adjusted EBITDA and cash flow, exiting that year with ample cash on hand, without needing to have raised additional capital." Read the full earnings call transcript here . As of the end of the second quarter of 2023, 8 hedge funds in Insider Monkey’s database of hedge funds reported owning stakes in Science 37 Holdings, Inc. (NASDAQ:SNCE). The biggest 10. CorMedix Inc. (NYSE: CRMD ) Number of Hedge Fund Holders: 9 New Jersey-based biopharmaceutical company CorMedix Inc. (NYSE:CRMD) ranks 10th in our list of the penny stocks with upside potential according to credible financial websites. Insider Monkey’s database of 910 hedge funds shows that 9 funds reported owning stakes in CorMedix Inc. (NYSE:CRMD). The biggest hedge fund stakeholder of CorMedix Inc. (NYSE:CRMD) was Paul Singer’s Elliott Management which had a $6.15 million stake in the company as of the end of June. 9. Savara, Inc. (NASDAQ: SVRA ) Number of Hedge Fund Holders: 10 Texas-based Savara, Inc. (NASDAQ:SVRA) works on treatments for respiratory diseases. As of the end of the second quarter of 2023, 10 hedge funds tracked by Insider Monkey had stakes in Savara, Inc. (NASDAQ:SVRA). 8. VAALCO Energy, Inc. (NYSE: EGY ) Number of Hedge Fund Holders: 11 Insider Monkey’s database of 910 hedge funds shows that 11 hedge funds had stakes in VAALCO Energy, Inc. (NYSE:EGY). The biggest stakeholder of VAALCO Energy, Inc. (NYSE:EGY) was George Baxter’s Sabrepoint Capital which owns a $10 million stake in the company. 7. Ardelyx Inc. (NASDAQ: ARDX ) Number of Hedge Fund Holders: 14 Ardelyx Inc. (NASDAQ:ARDX) shares have gained about 71% year to date through September 11. A total of 14 hedge funds in Insider Monkey’s database of hedge funds had stakes in Ardelyx Inc. (NASDAQ:ARDX). The most significant stake in Ardelyx Inc. (NASDAQ:ARDX) was owned by 6. Solid Power, Inc. (NASDAQ: SLDP ) Number of Hedge Fund Holders: 16 Credible financial websites and analysts we surveyed believe Solid Power, Inc. (NASDAQ:SLDP) is a penny stock that has upside potential. As of the end of the June quarter, 16 hedge funds in Insider Monkey’s database of hedge funds had stakes in Solid Power, Inc. (NASDAQ:SLDP). The biggest hedge fund stakeholder of Solid Power, Inc. (NASDAQ:SLDP) was Click to continue reading and see 5 Penny Stocks with Biggest Upside . Suggested articles: 30 Most Valuable Currencies in the World in 2023 12 Best Technology ETFs To Buy 25 Countries with the Highest Cryptocurrency Ownership Disclosure: None. 15 Penny Stocks with Biggest Upside is originally published on Insider Monkey.', 'In this article, we will take a look at the 15 penny stocks with biggest upside. To see more such companies, go directly to5 Penny Stocks with Biggest Upside.\nEveryone wants to find stocks with upside. But the stock market turmoil that started back in 2022 amid rising inflation and interest rate hikes has shown the importance of managing risks and investing wisely in stocks for the long term. Value investors like Warren Buffett and Howard Marks time and again talk about the concept of downside protection, emphasizing that one of the biggest goals during investing should be not to lose money. A 2016 report entitled “The Upside of Less Downside”by Alliance Bernstein talks about a similar concept. The report said that at the time that the fear of losing money is rapidly increasing worldwide amid changing demographics. As global population begins to age, people are hesitant to take risks and put large amounts of money in equities because they don’t want to lose their safety nets during retirement. The report then talks about a 90/70 upside/downside portfolio and says:\n“Imagine a hypothetical global stock portfolio that captured 90% of every market rally and fell only 70% as much as the market during every sell-off. What would the long-term returns of this portfolio look like? You’d be forgiven if you thought it would underperform. It wouldn’t.”\nThe report calls the portfolio of upside/downside protection as “smoother ride” portfolio. The report analyzes a hypothetical portfolio based on this strategy and says that the portfolio would build capital of nearly US$13,000 over the period examined. The examined period spanned over 40 years through the end of June.\nThe report however points out some caveats and challenges of having a 90%/70% upside/downside spread approach. First, it’s not easy at all to stick to such a portfolio especially when markets are rising.Investing in low-risk stocksmeans you are missing out on stock returns when the overall market is in euphoria. But the true mettle of this portfolio is visible during tough times, when markets are down and the downside protected, low risk portfolio is outperforming the market. The report also said that finding low-risk stocks is not easy. While Alliance Bernstein said it believes in investing in resilient companies with strong business models and attractive prices, the firm acknowledged that it’s easier said than done. The report also mentions some data on why investing in low-risk stocks makes sense.\n“Research going back to the early 1970s shows that lower-risk stocks, as measured by beta, performed much better than the CAPM would predict. By focusing on absolute risk (a.k.a. the Sharpe ratio), the long-term returns of strategies with less volatile stocks have matched or outperformed the market and more aggressive equity strategies over four decades. Based on Sharpe ratios, lower-risk stocks have delivered significantly more return per unit of risk.”\nThe report also gives examples of resilient and strong businesses. It talks about companies like Alphabet and Amadeus. It also talks about software companies that provide tools and systems for mission critical applications. Once these software are installed in companies\' systems it becomes difficult for the firms to make a shift. The report emphasizes the importance of disruption and evaluating “network effect” while finding strong and resilient businesses.\nPixabay/Public Domain\nOur Methodology\nFor this article, we consulted over 10 mainstream financial websites to see which penny stocks they believe have the biggest upside. We picked only those penny stocks that are repeatedly talked about in the mainstream financial media as companies having long-term growth potential and upside. The list is ranked in ascending order of the number of hedge fund investors. We gauged hedge fund sentiment using Insider Monkey’s database of 910 hedge funds and their holdings.\nNumber of Hedge Fund Holders: 4\nBitcoin mining company Bit Digital, Inc. (NASDAQ:BTBT) ranks 15th in our list of penny stocks with upside potential. As of the end of the second quarter of 2023, 4 hedge funds tracked by Insider Monkey had stakes in Bit Digital, Inc. (NASDAQ:BTBT). Bit Digital, Inc. (NASDAQ:BTBT) produced 139 bitcoins (BTC-USD) in August, which was a 5% increase from July,\nNumber of Hedge Fund Holders: 4\nChinese hardware company Canaan Inc. (NASDAQ:CAN) is one of the notable penny stocks with upside potential. Last month Canaan Inc. (NASDAQ:CAN) posted second quarter results. GAAP EPS in the quarter came in at -$0.65 missing estimates by $0.51. Revenue in the quarter came in at $73.9 million, beating estimates by $3.03 million. Bitcoin mining revenues jumped 43.3% on a QoQ basis.\nAs of the end of the second quarter of 2023, 4 hedge funds in Insider Monkey’s database of hedge funds had stakes in Canaan Inc. (NASDAQ:CAN).\nNumber of Hedge Fund Holders: 6\nPrepaid card products company Paysign, Inc. (NASDAQ:PAYS) ranks 13th in our list of the penny stocks with the biggest upside. Last month Paysign, Inc. (NASDAQ:PAYS) posted second quarter results. Revenue of the company jumped about 28% year over year to $11 million.\nA total of 6 hedge funds in Insider Monkey’s database reported owning stakes in Paysign, Inc. (NASDAQ:PAYS). The biggest stakeholder of Paysign, Inc. (NASDAQ:PAYS) during this period was Citadel Investment Group of Ken Griffin which had a $595,632 stake in Paysign, Inc. (NASDAQ:PAYS).\nNumber of Hedge Fund Holders: 6\nSmith Micro Software, Inc. (NASDAQ:SMSI) is an enterprise and consumer software company. This penny stock has upside potential, according to credible financial websites and analysts surveyed by Insider Monkey. Last month Smith Micro Software, Inc. (NASDAQ:SMSI) posted second quarter results. Adjusted EPS in the quarter came in at -$0.01, meeting estimates. Revenue in the quarter fell 18.4% year over year to $10.34 million, missing estimates by $0.32 million.\nNumber of Hedge Fund Holders: 8\nClinical research company Science 37 Holdings, Inc. (NASDAQ:SNCE) ranks 11th in our list of penny stocks with the biggest upside according to financial media.\nScience 37 Holdings, Inc. (NASDAQ:SNCE)’s management talked about its guidance and future plans in thelatest earnings calland said:\n"And we expect our fourth quarter to be sequentially higher on a revenue basis based on the timing of our new study starts and project ramps. While we will hold off providing 2024 guidance until a later date, given our current momentum and facility, we expect solid continuing revenue growth in 2024. Turning to our gross margin guidance we indicated during our last quarterly earnings call that we expected adjusted gross margins to improve from the low 20% range in the first quarter of 2023 to the low to mid-30% range in the second half of 2023. We achieved the top end of that range at 36% in the second quarter, and we expect to stay in the mid-30% range for the remainder of this year. On the first quarter earnings call, we also indicated we expected to see a sequential reduction in SG&A and a more dramatic reduction in cash burn exiting the fourth quarter with a cash burn of less than $10 million.\nRead the full earnings call transcripthere.\nAs of the end of the second quarter of 2023, 8 hedge funds in Insider Monkey’s database of hedge funds reported owning stakes in Science 37 Holdings, Inc. (NASDAQ:SNCE). The biggest\nNumber of Hedge Fund Holders: 9\nNew Jersey-based biopharmaceutical company CorMedix Inc. (NYSE:CRMD) ranks 10th in our list of the penny stocks with upside potential according to credible financial websites.\nInsider Monkey’s database of 910 hedge funds shows that 9 funds reported owning stakes in CorMedix Inc. (NYSE:CRMD). The biggest hedge fund stakeholder of CorMedix Inc. (NYSE:CRMD) was Paul Singer’sElliott Managementwhich had a $6.15 million stake in the company as of the end of June.\nNumber of Hedge Fund Holders: 10\nTexas-based Savara, Inc. (NASDAQ:SVRA) works on treatments for respiratory diseases. As of the end of the second quarter of 2023, 10 hedge funds tracked by Insider Monkey had stakes in Savara, Inc. (NASDAQ:SVRA).\nNumber of Hedge Fund Holders: 11\nInsider Monkey’s database of 910 hedge funds shows that 11 hedge funds had stakes in VAALCO Energy, Inc. (NYSE:EGY). The biggest stakeholder of VAALCO Energy, Inc. (NYSE:EGY) was George Baxter’s Sabrepoint Capital which owns a $10 million stake in the company.\nNumber of Hedge Fund Holders: 14\nArdelyx Inc. (NASDAQ:ARDX) shares have gained about 71% year to date through September 11.\nA total of 14 hedge funds in Insider Monkey’s database of hedge funds had stakes in Ardelyx Inc. (NASDAQ:ARDX). The most significant stake in Ardelyx Inc. (NASDAQ:ARDX) was owned by\nNumber of Hedge Fund Holders: 16\nCredible financial websites and analysts we surveyed believe Solid Power, Inc. (NASDAQ:SLDP) is a penny stock that has upside potential.\nAs of the end of the June quarter, 16 hedge funds in Insider Monkey’s database of hedge funds had stakes in Solid Power, Inc. (NASDAQ:SLDP). The biggest hedge fund stakeholder of Solid Power, Inc. (NASDAQ:SLDP) was\nClick to continue reading and see5 Penny Stocks with Biggest Upside.\nSuggested articles:\n• 30 Most Valuable Currencies in the World in 2023\n• 12 Best Technology ETFs To Buy\n• 25 Countries with the Highest Cryptocurrency Ownership\nDisclosure: None.15 Penny Stocks with Biggest Upsideis originally published on Insider Monkey.', 'In this article, we will take a look at the 11 crypto stocks with biggest upside. To see more such companies, go directly to 5 Crypto Stocks with Biggest Upside . Cryptocurrencies soared last month after a three-judge appeals panel in Washington vacated a decision by the U.S. Securities and Exchange Commission that blocked Grayscale’s attempt to convert Grayscale Bitcoin Trust into an Bitcoin ( BTC-USD ) exchange-traded fund. Several cryptocurrencies rallied strongly after this decision, including Bitcoin, Ethereum, Dogecoin and Binance Coin. Analysts see this decision as a critical milestone for the industry. Another win for the crypto industry came last month when a US judge ruled that \xa0Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges. However, many analysts believe the crypto industry is facing the same concentration of value problem that is seen in the stock markets: just a few cryptocurrencies account for most of the gains in the industry and the industry is littered with meme coins and coins that have no solid underlying projects. As a result analysts and experts keep cautioning investors, which creates skepticism and volatility in the industry. But what are the reasons behind the skepticism? Did the industry lose hope on the future of money and how digital currencies promise to change it with decentralization? Has the fundamental thesis that once made cryptocurrencies the darlings of the global markets shifted? Many mainstream analysts now believe cryptocurrencies have now gone in the background when compared to other truly disruptive technologies like AI and Cloud computing. For example, a Refinitiv report said that of the many technologies that changed our lives over the past few years, AI is the most disruptive. Other disruptive technologies include high-speed internet, Cloud computing and blockchain. But surprisingly, according to the report, analysts are not excited about crypto. Story continues “This stands in stark contrast to cryptocurrencies, where institutional traders of all ages remain largely unexcited despite the efforts of many to make these markets more accessible.” So that means the whole crypto chapter was a façade and cryptocurrencies do not promise any good for the world? A report by Oliver Wyman Forum on the crypto outlook for 2023 and beyond answers this question in detail. It says: “The short answer is no – and that’s a good thing. Many parts of the sector show real promise for useful innovations to provide more efficient and effective financial products and services for businesses and consumers. The calamities of the past year revealed major flaws in the business models and practices of many crypto ventures, notably in the exchange and lending spaces, but they did not reflect fundamental weaknesses in the industry’s underlying technology or its ability to transform many areas of financial services. The challenge ahead – for digital asset businesses, investors, developers, policymakers, and consumers – is to focus on that promise, identify and rectify the flaws, and develop rules of the road (both formal and informal) that offer protections for investors and users while fostering truly valuable innovation.” Just because the governments around the world initiated a crackdown against crypto and the industry is littered with scams and meme coins does not make the fundamental thesis behind crypto invalid. There are investors and major companies still betting on the future of digital money and they believe sooner or later the world will move to digital currencies, DeFi and related technologies. Last month, JPMorgan said in a report that it sees “limited downside” to the crypto markets in the near term. The bank said in a report that the reversal of crypto rally seen after the Ripple Vs SEC court decision could be because of a “broader correction in risk assets such as equities and in particular tech, which in turn appears to have been induced by frothy positioning in tech, higher U.S. real yields and growth concerns about China.” The Oliver Wyman report said that despite the problems, innovation continues to take place in the crypto industry. The report cited data according to which last year, during the peak of the crypto winter, the industry saw a rise in crypto developers. It also quoted data from Celent which says that 91% of institutional investors are “interested” in investing in tokenized assets. The report however warned that the speculative element in the industry will remain strong. It however advised investors to focus on crypto projects with solid underlying assets and technologies. The report said that the industry has taken the form of an ecosystem, strongly interconnected, causing regulators and outsiders to see it as a whole. The report said this is not the right approach: “Second, and more important, the world’s tendency to lump everything in digital assets together as crypto creates substantial indirect impacts. Policymakers are likely to accelerate the movement to bring digital assets clearly within the regulatory perimeter, and to do so by applying tougher regulatory standards than they would have prior to the recent debacles. Some of this policy action will fail to adequately distinguish between different parts of the digital assets ecosystem. Similarly, funding for digital assets projects of all kinds is likely to be tougher to find going forward than it was when crypto was spinning gold for investors.” Best Crypto Stocks with Upside source: pixabay Our Methodology For this article, we conducted a survey of mainstream financial media and
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-17
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $518,405,608,200
- Hash Rate: 401080908.4727827
- Transaction Count: 611220.0
- Unique Addresses: 854606.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.46
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin (BTC) this summer completed its longest-ever period of negative year-over-year returns,wrote Dan Morehead, founder of crypto investment firm Pantera Capital.
It won't last, he argued.
"Our view is that we've seen enough," Morehead wrote. "There's just so long markets can be down."
As of June 12, Morehead said, the price of bitcoin had been negative on a year-over-year basis for 15 consecutive months (starting Feb. 8, 2022). Prior to this, the longest period had been less than a year (Nov. 14, 2014, to Oct. 31, 2015), he continued.
It's notable that bitcoin is, as of Wednesday, up more than 20% year-over-year, even after last week's tumble from the near-$30,000 level.
As for possible positive catalysts for a market surely in need of one, Morehead notes that July's positive court ruling on theXRP token for Ripple Labs still stands, as do"endorsements" from BlackRock, Fidelity and other asset managers in the form of their spot bitcoin ETF applications.
And don't forget about the upcoming April 2024 halving at which the BTC block reward for mining fresh blocks will be cut in half. Morehead isn't buying the efficient market hypothesis that the halving is so widely known that the its effect has already been reflected in pricing.
"If the demand for bitcoins stays constant and the supply of new bitcoins is cut in half, this will force the price up," said Morehead. His models suggest bitcoin bottomed for good late last year, should hit around $35,500 by the April 2024 halving and nearly $150,000 by late 2025.
Weak economic data out of Europe early Wednesday sent previously surging interest rates sharply lower, with 10-year government bond yields in Germany, the U.K. and the U.S. all lower by 12 to 20 basis points.
U.S. stock indexes are higher, led by the Nasdaq Composite's 1.5% advance. The S&P 500 is ahead by 1%.
Bitcoin is up 2% to $26,400, roughly inline with the gain for theCoinDesk Market Index (CMI).
The week's main economic event takes place on Friday morning, where U.S. Federal Reserve Chairman Jay Powell will deliver the keynote speech at the Kansas City Fed's Jackson Hole Symposium.
While the Jackson Hole speech in the past has occasionally been a forum for important policy announcements, the betting this time around is that Powell delivers a status quo message – that the Fed remains focused on containing inflation and will be data dependent going forward on decisions about whether to further tighten monetary policy....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin dipped on Monday morning in Asia to trade at around US$26,500. Ether also moved lower but stayed above its US$1,600 support level. Most other top 10 non-stablecoin cryptocurrencies dropped, with Toncoin leading the losers with a slide of over 4%. Bankrupt crypto exchange FTXreceivedcourt approval last week to sell its crypto holdings of around US$3.4 billion, which could add to the selling pressure in the crypto market — especially altcoins — for the rest of the year. U.S. stock futures edged up as investors await the Federal Reserve’s interest rate decision this week. Wall Street closed lower on Friday, as mixed economic data in the U.S. moderated the investor’s risk appetite.\nBitcoin edged down 0.18% in the last 24 hours to US$26,492.52 as of 07:30 a.m. in Hong Kong and went up 2.60% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency reached US$26,840.50 on Friday, the highest price since August 17.\nEther dipped 0.87% to US$1,619.94 and traded flat for the week with a 0.18% uptick.\nMost other top 10 non-stablecoin cryptocurrencies booked losses in the past 24 hours. Binance’s BNB token was the only exception, rising 0.66% to US$216.23 while adding 1.80% for the week.\nDespite the uptick in BNB prices, the world’s largest crypto exchange faces mounting regulatorychallenges. The firm’s U.S. affiliate Binance.US has laid off one-third of its staff and saw its Chief Executive Officer Brian Shroder leave the company last week, citing the U.S. Securities and Exchange Commission’s (SEC) “aggressive attempts to cripple” the crypto industry. The exchange also lost its legal and risk executives last week, according to theWall Street Journal.\nThe crypto market is facing pressure from the liquidation of FTX, which plans to sell its US$3.4 billion worth of crypto assets by the end of 2023. The bankrupt exchange’s top three crypto holdings are Solana (US$1.162 million), Bitcoin (US$560 million) and Ether (US$192 million).\nFTX said it will gradually sell the holdings with a US$100 million weekly cap to avoid a negative impact on crypto prices, but this limit could expand to US$200 million upon approval from two committees representing FTX customers.\n“Sales of this size are destined to have an impact,”wroteblockchain research firm K33 on Friday. “Especially altcoins with limited liquidity are exposed, making it vital for altcoin traders to maintain comprehensive oversight of FTX’s holdings.”\nThe ongoing Bitcoin and Ether exchange-traded fund (ETF) applications in the U.S. could also be contributing to the underperformance of altcoins, said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\n“This is probably led by investors betting on ETFs becoming a thing -at some point in the future — and not wanting to miss out. Conversely, altcoins that are still at risk of being labelled as ‘securities’ aren’t benefitting from the same enthusiasm,” said d’Anethan.\nThe total crypto market capitalization dipped 0.73% in the past 24 hours to US$1.05 trillion, while trading volume dropped 12.08% to US$17.53 billion.\nU.S. stock futures moved up as of 09:30 a.m. in Hong Kong, after Wall Street closed lower on Friday, with Nasdaq Composite leading the losers with a 1.56% slide. The three major U.S. indexes closed the week mixed, with the S&P 500 and Nasdaq booking losses while the Dow Jones Industrial Average edging up 0.12%.\nMost main stock indexes in Asia went lower on Monday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s Kospi all logged losses, while Japan’s stock market is closed due to a public holiday and will return on Tuesday.\nWall Street’s Friday slide was spearheaded by major tech corporations including Nvidia Corp., Meta Platforms Corp. and Adobe Inc., which all closed the day over 3.5% lower.\nTechnology’s’ slide coincided with a Reutersreporton Friday stating that TSMC, a Taiwan-based semiconductor manufacturer that provides chips to companies like Apple, had told its suppliers to delay delivery of high-end chip-making equipment due to concerns over customer demand.\nMeanwhile, the U.S. economic data on Friday sent mixed messages to the market. The U.S.industrial productionrose 0.4% by month in August. Although the reading was held back by a 5% drop in the output of motor vehicles and parts, it still beat the analysts’ expectation of0.1%.\nThe rebound in industrial production followed the August consumer price index (CPI)releaselast week that showed the core CPI — the Fed’s favored inflation gauge — logged its smallest annual increase since September 2021.\n“We really continue to see that growth resilience story, and I think that’s difficult for the market simply because there’s concern about what that could mean both for rates and inflation,” Lisa Erickson, head of public markets at U.S. Bank Wealth Management in Minneapolis, toldReuterson Saturday.\nTheCME FedWatch Toolpredicts a 99% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 73% chance for another pause in November, up from 63% on Friday.\n“If the Fed leaves interest rates unchanged, it is likely to have a positive impact on higher-risk assets such as cryptocurrencies. Steady interest rates can be indicators of stability, which could encourage investors to seek alternative assets like cryptocurrencies,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure decentralized organization Balthazar DAO.\nWith most analysts expecting a pause of rate hike in September, all eyes are now on Fed Chair Jerome Powell’s remark that will come with the rate hike decision on Wednesday.\n“With last week’s higher-than-expected inflation data and the ongoing rise in oil prices, Fed\nChair Powell could communicate a relatively hawkish message. However, based on our analysis, we would not expect the market to buy into this for much longer as the inflation trend is still lower,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said in an emailed report.\nElsewhere, China’s industrial production and retail salesloggedan annual increase of 4.5% and 4.6% in August, both accelerating from the previous month and beating the analysts’ expectations.\n“Perhaps the peak pessimism is behind us,” Ding Shuang, chief economist for greater China and North Asia at Standard Chartered Plc., toldBloombergon Friday. “August’s data indicates that the economy is unlikely to suffer from a persisting, deeper downturn going forward even though there might still be some volatility ahead — especially if we take into account the policy factor.”\n(Updates with equity section.)', 'Bitcoin dipped on Monday morning in Asia to trade at around US$26,500. Ether also moved lower but stayed above its US$1,600 support level. Most other top 10 non-stablecoin cryptocurrencies dropped, with Toncoin leading the losers with a slide of over 4%. Bankrupt crypto exchange FTXreceivedcourt approval last week to sell its crypto holdings of around US$3.4 billion, which could add to the selling pressure in the crypto market — especially altcoins — for the rest of the year. U.S. stock futures edged up as investors await the Federal Reserve’s interest rate decision this week. Wall Street closed lower on Friday, as mixed economic data in the U.S. moderated the investor’s risk appetite.\nBitcoin edged down 0.18% in the last 24 hours to US$26,492.52 as of 07:30 a.m. in Hong Kong and went up 2.60% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency reached US$26,840.50 on Friday, the highest price since August 17.\nEther dipped 0.87% to US$1,619.94 and traded flat for the week with a 0.18% uptick.\nMost other top 10 non-stablecoin cryptocurrencies booked losses in the past 24 hours. Binance’s BNB token was the only exception, rising 0.66% to US$216.23 while adding 1.80% for the week.\nDespite the uptick in BNB prices, the world’s largest crypto exchange faces mounting regulatorychallenges. The firm’s U.S. affiliate Binance.US has laid off one-third of its staff and saw its Chief Executive Officer Brian Shroder leave the company last week, citing the U.S. Securities and Exchange Commission’s (SEC) “aggressive attempts to cripple” the crypto industry. The exchange also lost its legal and risk executives last week, according to theWall Street Journal.\nThe crypto market is facing pressure from the liquidation of FTX, which plans to sell its US$3.4 billion worth of crypto assets by the end of 2023. The bankrupt exchange’s top three crypto holdings are Solana (US$1.162 million), Bitcoin (US$560 million) and Ether (US$192 million).\nFTX said it will gradually sell the holdings with a US$100 million weekly cap to avoid a negative impact on crypto prices, but this limit could expand to US$200 million upon approval from two committees representing FTX customers.\n“Sales of this size are destined to have an impact,”wroteblockchain research firm K33 on Friday. “Especially altcoins with limited liquidity are exposed, making it vital for altcoin traders to maintain comprehensive oversight of FTX’s holdings.”\nThe ongoing Bitcoin and Ether exchange-traded fund (ETF) applications in the U.S. could also be contributing to the underperformance of altcoins, said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\n“This is probably led by investors betting on ETFs becoming a thing -at some point in the future — and not wanting to miss out. Conversely, altcoins that are still at risk of being labelled as ‘securities’ aren’t benefitting from the same enthusiasm,” said d’Anethan.\nThe total crypto market capitalization dipped 0.73% in the past 24 hours to US$1.05 trillion, while trading volume dropped 12.08% to US$17.53 billion.\nU.S. stock futures moved up as of 09:30 a.m. in Hong Kong, after Wall Street closed lower on Friday, with Nasdaq Composite leading the losers with a 1.56% slide. The three major U.S. indexes closed the week mixed, with the S&P 500 and Nasdaq booking losses while the Dow Jones Industrial Average edging up 0.12%.\nMost main stock indexes in Asia went lower on Monday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s Kospi all logged losses, while Japan’s stock market is closed due to a public holiday and will return on Tuesday.\nWall Street’s Friday slide was spearheaded by major tech corporations including Nvidia Corp., Meta Platforms Corp. and Adobe Inc., which all closed the day over 3.5% lower.\nTechnology’s’ slide coincided with a Reutersreporton Friday stating that TSMC, a Taiwan-based semiconductor manufacturer that provides chips to companies like Apple, had told its suppliers to delay delivery of high-end chip-making equipment due to concerns over customer demand.\nMeanwhile, the U.S. economic data on Friday sent mixed messages to the market. The U.S.industrial productionrose 0.4% by month in August. Although the reading was held back by a 5% drop in the output of motor vehicles and parts, it still beat the analysts’ expectation of0.1%.\nThe rebound in industrial production followed the August consumer price index (CPI)releaselast week that showed the core CPI — the Fed’s favored inflation gauge — logged its smallest annual increase since September 2021.\n“We really continue to see that growth resilience story, and I think that’s difficult for the market simply because there’s concern about what that could mean both for rates and inflation,” Lisa Erickson, head of public markets at U.S. Bank Wealth Management in Minneapolis, toldReuterson Saturday.\nTheCME FedWatch Toolpredicts a 99% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 73% chance for another pause in November, up from 63% on Friday.\n“If the Fed leaves interest rates unchanged, it is likely to have a positive impact on higher-risk assets such as cryptocurrencies. Steady interest rates can be indicators of stability, which could encourage investors to seek alternative assets like cryptocurrencies,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure decentralized organization Balthazar DAO.\nWith most analysts expecting a pause of rate hike in September, all eyes are now on Fed Chair Jerome Powell’s remark that will come with the rate hike decision on Wednesday.\n“With last week’s higher-than-expected inflation data and the ongoing rise in oil prices, Fed\nChair Powell could communicate a relatively hawkish message. However, based on our analysis, we would not expect the market to buy into this for much longer as the inflation trend is still lower,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said in an emailed report.\nElsewhere, China’s industrial production and retail salesloggedan annual increase of 4.5% and 4.6% in August, both accelerating from the previous month and beating the analysts’ expectations.\n“Perhaps the peak pessimism is behind us,” Ding Shuang, chief economist for greater China and North Asia at Standard Chartered Plc., toldBloombergon Friday. “August’s data indicates that the economy is unlikely to suffer from a persisting, deeper downturn going forward even though there might still be some volatility ahead — especially if we take into account the policy factor.”\n(Updates with equity section.)', 'Bitcoin dipped on Monday morning in Asia to trade at around US$26,500. Ether also moved lower but stayed above its US$1,600 support level. Most other top 10 non-stablecoin cryptocurrencies dropped, with Toncoin leading the losers with a slide of over 4%. Bankrupt crypto exchange FTX received court approval last week to sell its crypto holdings of around US$3.4 billion, which could add to the selling pressure in the crypto market — especially altcoins — for the rest of the year. U.S. stock futures edged up as investors await the Federal Reserve’s interest rate decision this week. Wall Street closed lower on Friday, as mixed economic data in the U.S. moderated the investor’s risk appetite. Bitcoin, Ether dip; selling pressure from FTX liquidation Bitcoin edged down 0.18% in the last 24 hours to US$26,492.52 as of 07:30 a.m. in Hong Kong and went up 2.60% for the week, according to CoinMarketCap data. The world’s largest cryptocurrency reached US$26,840.50 on Friday, the highest price since August 17. Ether dipped 0.87% to US$1,619.94 and traded flat for the week with a 0.18% uptick. Most other top 10 non-stablecoin cryptocurrencies booked losses in the past 24 hours. Binance’s BNB token was the only exception, rising 0.66% to US$216.23 while adding 1.80% for the week. Despite the uptick in BNB prices, the world’s largest crypto exchange faces mounting regulatory challenges . The firm’s U.S. affiliate Binance.US has laid off one-third of its staff and saw its Chief Executive Officer Brian Shroder leave the company last week, citing the U.S. Securities and Exchange Commission’s (SEC) “aggressive attempts to cripple” the crypto industry. The exchange also lost its legal and risk executives last week, according to the Wall Street Journal . The crypto market is facing pressure from the liquidation of FTX, which plans to sell its US$3.4 billion worth of crypto assets by the end of 2023. The bankrupt exchange’s top three crypto holdings are Solana (US$1.162 million), Bitcoin (US$560 million) and Ether (US$192 million). FTX said it will gradually sell the holdings with a US$100 million weekly cap to avoid a negative impact on crypto prices, but this limit could expand to US$200 million upon approval from two committees representing FTX customers. “Sales of this size are destined to have an impact,” wrote blockchain research firm K33 on Friday. “Especially altcoins with limited liquidity are exposed, making it vital for altcoin traders to maintain comprehensive oversight of FTX’s holdings.” The ongoing Bitcoin and Ether exchange-traded fund (ETF) applications in the U.S. could also be contributing to the underperformance of altcoins, said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. Story continues “This is probably led by investors betting on ETFs becoming a thing -at some point in the future — and not wanting to miss out. Conversely, altcoins that are still at risk of being labelled as ‘securities’ aren’t benefitting from the same enthusiasm,” said d’Anethan. The total crypto market capitalization dipped 0.73% in the past 24 hours to US$1.05 trillion, while trading volume dropped 12.08% to US$17.53 billion. U.S. equities futures rise ahead of Fed meeting The U.S. Federal Reserve Chair Jerome Powell|Image: Getty Images U.S. stock futures moved up as of 09:30 a.m. in Hong Kong, after Wall Street closed lower on Friday, with Nasdaq Composite leading the losers with a 1.56% slide. The three major U.S. indexes closed the week mixed, with the S&P 500 and Nasdaq booking losses while the Dow Jones Industrial Average edging up 0.12%. Most main stock indexes in Asia went lower on Monday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s Kospi all logged losses, while Japan’s stock market is closed due to a public holiday and will return on Tuesday. Wall Street’s Friday slide was spearheaded by major tech corporations including Nvidia Corp., Meta Platforms Corp. and Adobe Inc., which all closed the day over 3.5% lower. Technology’s’ slide coincided with a Reuters report on Friday stating that TSMC, a Taiwan-based semiconductor manufacturer that provides chips to companies like Apple, had told its suppliers to delay delivery of high-end chip-making equipment due to concerns over customer demand. Meanwhile, the U.S. economic data on Friday sent mixed messages to the market. The U.S. industrial production rose 0.4% by month in August. Although the reading was held back by a 5% drop in the output of motor vehicles and parts, it still beat the analysts’ expectation of 0.1% . The rebound in industrial production followed the August consumer price index (CPI) release last week that showed the core CPI — the Fed’s favored inflation gauge — logged its smallest annual increase since September 2021. “We really continue to see that growth resilience story, and I think that’s difficult for the market simply because there’s concern about what that could mean both for rates and inflation,” Lisa Erickson, head of public markets at U.S. Bank Wealth Management in Minneapolis, told Reuters on Saturday. The CME FedWatch Tool predicts a 99% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20, which is currently in the range between 5.25% and 5.50%. It gives a 73% chance for another pause in November, up from 63% on Friday. “If the Fed leaves interest rates unchanged, it is likely to have a positive impact on higher-risk assets such as cryptocurrencies. Steady interest rates can be indicators of stability, which could encourage investors to seek alternative assets like cryptocurrencies,” said John Stefanidis, chief executive officer and co-founder of blockchain infrastructure decentralized organization Balthazar DAO. With most analysts expecting a pause of rate hike in September, all eyes are now on Fed Chair Jerome Powell’s remark that will come with the rate hike decision on Wednesday. “With last week’s higher-than-expected inflation data and the ongoing rise in oil prices, Fed Chair Powell could communicate a relatively hawkish message. However, based on our analysis, we would not expect the market to buy into this for much longer as the inflation trend is still lower,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said in an emailed report. Elsewhere, China’s industrial production and retail sales logged an annual increase of 4.5% and 4.6% in August, both accelerating from the previous month and beating the analysts’ expectations. “Perhaps the peak pessimism is behind us,” Ding Shuang, chief economist for greater China and North Asia at Standard Chartered Plc., told Bloomberg on Friday. “August’s data indicates that the economy is unlikely to suffer from a persisting, deeper downturn going forward even though there might still be some volatility ahead — especially if we take into account the policy factor.” (Updates with equity section.) View comments', 'Ethereum developers failed to get theirnew test network, Holesky,started on Friday, marring a technological milestone that was supposed to serve as a celebration of the first anniversary of last year’s historic “Merge” upgrade.\nWhile some validators were able to manually start the test network, there was a misconfiguration in one of the genesis files of the network, according to Ethereum core developers.\nAs a result, Ethereum core developers decided to postpone the launch for about two weeks, giving them time to regroup.\nThe episode represents a rare gaffe for Ethereum, which over the past year has managed to smoothly implement key upgrades, including the “Merge” a year ago and “Shapella” in April, all the while incorporating rapid growth in its fast-expanding ecosystem of secondary networks known aslayer-2 blockchains.\nEthereum is the second-largest blockchain after Bitcoin, but it\'s closely watched because it\'s the largest among those that can supportsmart contracts, which are strings of programming that can be embedded into the network to run functions and applications, similar to a computer.\nTest networks, or testnets, are clones of a blockchain, used to simulate transactions and test applications before they are deployed on a mainnet blockchain. Ethereum developers created theHolesky testnetto replace one of the blockchain’s current testnets, Goerli.\nThe Goerli testnet is still live, so developers can still test their applications on that network. Developers plan to sunset Goerli in early 2024.\nHolesky is supposed to ease some scaling issues for Ethereum, as developers are intended to allow for twice as many validators to join the network compared to mainnet.\n“It’s possible to resurrect the network with a fix, but we decided it’s probably cleaner to start fresh considering it’ll be a new network that’ll live for years,” said Parithosh Jayanthi, a devops engineer at the Ethereum Foundation.\nHolesky is also supposed to be critical for Ethereum’s next hard fork, Dencun, in whichproto-danksharding, a technical feature aimed at scaling the blockchain, is supposed to go live. Jayanthi told CoinDesk that the set back in Holesky’s launch isnot supposed to affect the timing of Dencun. “This won’t affect Dencun at all,” he said.\nFriday’s launch was supposed to mark the first anniversary of the "Merge," Ethereum’s historic event where it became a "proof-of-stake" blockchain and swapped out its old, energy-intensive "proof-of-work" model.\nRead more:Hello Holesky, Ethereum’s Newest Testnet', "Road Town, British Virgin Islands--(Newsfile Corp. - September 18, 2023) - LBank Exchange, a global digital asset trading platform, listed BANUS (BANUS) on September 14, 2023. For all users of LBank Exchange, the BANUS/USDT trading pair is now officially available for trading.\nBANUS Listing Banner\nTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8831/180749_a99f9cfee47bcbb8_001full.jpg\nIntroducing BANUS\nBANUS (BANUS) is a groundbreaking decentralized futures and liquid betting exchange platform, designed to transform the cryptocurrency trading landscape by offering users a secure, efficient, and highly liquid environment for futures trading and liquid staking opportunities. It also highlights the significance of Bitcoin's role as a unit of account in global trade and the need for decentralized alternatives to centralized currencies.\nDecentralized exchanges (DEXs) are presented as a paradigm shift in the cryptocurrency world, offering advantages such as ease of use, transparency, and the absence of KYC regulations. However, they come with added responsibilities for users to secure their assets. The DEX BANUS focuses on daily token burning based on trading volume, aiming to create demand for BANUS tokens. It also emphasizes the importance of a knowledgeable and multilingual customer support team. The exchange introduces liquid staking, allowing users to participate in staking without locking up their assets, increasing liquidity and flexibility while highlighting the associated risks.\nThe DEX BANUS operates with multichain compatibility, including Avalanche and Arbitrum, prioritizing security measures to protect users from potential threats. The exchange's model is designed to provide native BANUS token holders with a deflationary investment, with a high burn rate tied to trading volume, making it an attractive option for traders. However, it also highlights the need for users to be aware of and comply with their respective countries' regulations regarding token sales. Support for users is emphasized through their support email address.\nAbout BANUS Token\nThe BANUS token is a revolutionary cryptocurrency introduced by the DEX BANUS, designed to be highly deflationary and sought-after by traders and investors. BANUS employs a unique model where a percentage of transaction fees is utilized for daily buyback and burning, ensuring a perpetual reduction in its supply. This innovative approach is deisgned to create a growing demand for BANUS tokens as trading volume increases. BANUS token holders also benefit from its compatibility with various cryptocurrencies, including Bitcoin and Ethereum, and the option to participate in liquid staking, which allows them to stake their assets without locking them up, enhancing liquidity and flexibility while considering the associated risks.\nBased on BEP20, BANUS has a total supply of 500 million (i.e. 500,000,000). The distribution of BANUS tokens includes 70% allocated for public sale, 10% for market makers, 10% for marketing, and 10% for the reserve, with a total supply of 500 million tokens, providing a well-balanced and strategic allocation. It was listed on LBank Exchange at 10:00 UTC on September 14, 2023. Investors who are interested in BANUS can easily buy and sell it on LBank Exchange now.\nLearn More about BANUS Token:\nOfficial Website:https://www.dexbanus.com/Contract:https://bscscan.com/token/0x98999aa1b0d17fb832fd509e13b67fe506513a6dTwitter:https://twitter.com/DexBanusTikTok:https://www.tiktok.com/@dexbanus?lang=esTelegram:https://t.me/+TAYUbjX6VEtlMDJkDiscord:https://discord.gg/kDYZ7xYT\nAbout LBank\nLBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users' funds and aims to contribute to the global adoption of cryptocurrencies.\nStart Trading Now:lbank.com\nCommunity & Social Media:\nlTelegramlTwitterlFacebooklLinkedInlInstagramlYouTube\nPress contact:\[email protected]\nBusiness Contact:\nLBK Blockchain Co. LimitedLBank [email protected]@lbank.info\nTo view the source version of this press release, please visithttps://www.newsfilecorp.com/release/180749", "The sale of tokens held bybankrupt crypto exchange FTXwill not result in a market shock due to several mitigating factors, Coinbase (COIN) said in a research report Thursday.\nFor a start, thesale of tokenswon’t flood the market because liquidations are limited to $50 million per week in the first phase and then increase to $100 million in the following weeks, the report said. Coinbase notes that committees representing FTX debtors need to approve a permanent increase to a maximum of $200 million a week.\nAccording to a recentcourt filing, the crypto exchange holds about $1.16 billion in solana (SOL), $560 million in bitcoin (BTC), $192 million in ether (ETH) and a further $1.49 billion in other tokens. It can now sell and invest these holdings to pay back creditors, the court ruled last week.\nAdditionally, there are “strict controls in place for selling certain ‘insider-affiliated’ tokens that require 10 days advance notice to these same committees,” wrote David Duong, head of institutional research.\nA large part of FTX's solana holdings are locked up until 2025 as part of the token’s vesting schedule, as are some other tokens that need to be sold, the note said.\nLastly, FTX will be able to hedge its sales of bitcoin, ether and other tokens through an investment adviser once it has received committee approval, the report added.\nRead more:Cryptocurrency Altcoin Crash Is Coming: Matrixport", "The sale of tokens held by bankrupt crypto exchange FTX will not result in a market shock due to several mitigating factors, Coinbase (COIN) said in a research report Thursday. For a start, the sale of tokens won\x92t flood the market because liquidations are limited to $50 million per week in the first phase and then increase to $100 million in the following weeks, the report said. Coinbase notes that committees representing FTX debtors need to approve a permanent increase to a maximum of $200 million a week. According to a recent court filing , the crypto exchange holds about $1.16 billion in solana (SOL), $560 million in bitcoin (BTC), $192 million in ether (ETH) and a further $1.49 billion in other tokens. It can now sell and invest these holdings to pay back creditors, the court ruled last week. Additionally, there are \x93strict controls in place for selling certain \x91insider-affiliated\x92 tokens that require 10 days advance notice to these same committees,\x94 wrote David Duong, head of institutional research. A large part of FTX's solana holdings are locked up until 2025 as part of the token\x92s vesting schedule, as are some other tokens that need to be sold, the note said. Lastly, FTX will be able to hedge its sales of bitcoin, ether and other tokens through an investment adviser once it has received committee approval, the report added. Read more: Cryptocurrency Altcoin Crash Is Coming: Matrixport", 'The crypto world is abuzz with Europe’sgroundbreaking introductionof its first spot Bitcoin exchange-traded fund fromJacobi Asset Management, listed on Euronext Amsterdam — a listing that took two years after initial approval in 2021. This development marks a pivotal moment in the continent’s financial history and sets a precedent for other jurisdictions to potentially follow.\nIn the wake of this, there’s a palpable sense of anticipation. As digital assets gain traction, Europe’s decision underscores a commitment to innovation while addressing the complexities of the crypto market — the harbinger of a global shift towards a more inclusive and diversified financial ecosystem. With Hong Kong’s renewed ambition to be a major crypto hub and debuting retail crypto trading via licensed exchanges, it may not be long before we see the first spot Bitcoin ETF in Asia, too.\nOver the past decade, Europe has witnessed a steady growth and acceptance of digital assets. From the grassroots level of early enthusiasts trading cryptocurrencies to towering financial institutions exploring and adopting blockchain solutions, the continent has championed digital asset innovation.\nThis commitment to progress has set the stage for the current developments. Pivotal regulatory discussions, such as the European Union’s deliberations on theMarkets in Crypto Assets (MiCA)regulation, have sculpted the digital financial landscape in Europe. These regulatory strides, buoyed by interest from institutional investors, have culminated in the introduction of the spot Bitcoin ETF, marking a significant leap forward.\nA spot Bitcoin ETF offers a more appealing route for institutional and professional investors to invest in Bitcoin through a more familiar product structure. The ETF offers a structured and regulated way for investors to tap into Bitcoin’s potential. Unlike holding Bitcoin directly, which comes with security and storage concerns, the ETF provides a more traditional investment vehicle.\nJacobi’s ETF is regulated by theGuernsey Financial Services Commissionand trades under the ticker BCOIN. What sets Jacobi’s Spot Bitcoin ETF apart is its stringent regulatory compliance, ensuring investor protection. By bridging the gap between traditional finance and the digital asset world, it showcases the transformative potential of such instruments in the evolving financial landscape.\nEurope’s introduction of a spot Bitcoin ETF sets it apart as a pioneer, especially when contrasted with the United States, which, despite its dominant crypto market presence, has been reticent in approving a spot Bitcoin ETF.\nThis strategic divergence could recalibrate global financial market dynamics, potentially positioning Europe as a magnet for digital asset investments. The more conservative stance in the U.S., likely rooted in regulatory apprehensions and market fluctuations, accentuates the differences in regulatory visions between the two jurisdictions. It also highlights the challenges and opportunities that digital assets present, emphasizing the need for a nuanced and informed regulatory perspective.\nThe spot Bitcoin ETF’s introduction might act as a catalyst — it’s akin to opening a door, inviting other digital assets to step into the spotlight. This pioneering step could spur the development of ETFs for other major cryptocurrencies or even lead to the creation of multi-asset cryptocurrency ETFs.\nThe ETF’s debut could also influence investor strategies, potentially driving more institutional investment into the digital asset space.\nTraditional financial entities, spanning banks to asset managers, now grapple with the undeniable reality of digital assets becoming mainstream. The once clear lines between traditional finance and the world of cryptocurrencies are blurring. As digital assets gain legitimacy, especially with regulatory clarity in certain jurisdictions, the financial sector is undergoing a transformative shift.\nWe’re also witnessing anuptickin traditional banks establishing relationships with crypto companies, propelled, in part, by the U.S. bank closures earlier this year. In March, Coinbasepartneredwith Standard Chartered in Singapore for free fund transfers. FollowingSilicon Valley Bank’s failure,Circle announced Cross Riveras its new banking partner. In Switzerland, Arab Bankreportedan increase in U.S. firms from the crypto space seeking banking services after Silvergate’s collapse.\nThe broader financial sector might witness seismic shifts in asset allocation strategies, advisory services, and financial product portfolios in response to this digital renaissance. The dynamic landscape painted above highlights the adaptability of the financial world.\nGrayscale’s recent court victoryover the U.S. Securities and Exchange Commission is a testament to the changing tides. The federal appeals court’s decision to side with Grayscale, challenging the SEC’s rejection of their spot Bitcoin ETF, is significant. According to JPMorgan analyst Nikolaos Panigirtzoglou in a recentnote: “It looks more likely that the SEC would be forced to approve the Spot Bitcoin ETF applications that are still pending from several asset managers, including that from Grayscale.” This not only underscores the growing acceptance of digital assets but also highlights the need for regulatory bodies to adapt to the evolving financial landscape.\nGrayscale’s landmark victory against the SEC has set a precedent that could catalyze the approval of multiple spot Bitcoin ETFs. This development could inject more competition into the market, potentially lowering fees for investors.\nThe introduction of an avant-garde financial instrument like a spot Bitcoin ETF is not devoid of pitfalls. From market volatility to regulatory uncertainties, there are challenges to consider. Vigilant regulatory oversight becomes paramount to anchor market stability and shield investors from potential market manipulations or fraud. As with any investment, education is key. Ensuring that investors are well-informed can prevent speculative bubbles and uninformed investment decisions.\nEurope’s Bitcoin ETF introduction signals a new era in finance, where digital assets and traditional finance come together. As Europe treads this new path, the balance between innovation and regulation will be pivotal to ensure a stable and prosperous financial future.\nThe journey has just begun. Collaborative efforts, informed regulations and continuous education will be crucial as Europe navigates the evolving digital asset space. And Grayscale’s win across the water is another positive sign of progress.', 'The crypto world is abuzz with Europe’s groundbreaking introduction of its first spot Bitcoin exchange-traded fund from Jacobi Asset Management , listed on Euronext Amsterdam — a listing that took two years after initial approval in 2021. This development marks a pivotal moment in the continent’s financial history and sets a precedent for other jurisdictions to potentially follow. In the wake of this, there’s a palpable sense of anticipation. As digital assets gain traction, Europe’s decision underscores a commitment to innovation while addressing the complexities of the crypto market — the harbinger of a global shift towards a more inclusive and diversified financial ecosystem. With Hong Kong’s renewed ambition to be a major crypto hub and debuting retail crypto trading via licensed exchanges, it may not be long before we see the first spot Bitcoin ETF in Asia, too. Europe paving the digital highway Over the past decade, Europe has witnessed a steady growth and acceptance of digital assets. From the grassroots level of early enthusiasts trading cryptocurrencies to towering financial institutions exploring and adopting blockchain solutions, the continent has championed digital asset innovation. This commitment to progress has set the stage for the current developments. Pivotal regulatory discussions, such as the European Union’s deliberations on the Markets in Crypto Assets (MiCA) regulation, have sculpted the digital financial landscape in Europe. These regulatory strides, buoyed by interest from institutional investors, have culminated in the introduction of the spot Bitcoin ETF, marking a significant leap forward. Inside the spot Bitcoin ETF A spot Bitcoin ETF offers a more appealing route for institutional and professional investors to invest in Bitcoin through a more familiar product structure. The ETF offers a structured and regulated way for investors to tap into Bitcoin’s potential. Unlike holding Bitcoin directly, which comes with security and storage concerns, the ETF provides a more traditional investment vehicle. Story continues Jacobi’s ETF is regulated by the Guernsey Financial Services Commission and trades under the ticker BCOIN. What sets Jacobi’s Spot Bitcoin ETF apart is its stringent regulatory compliance, ensuring investor protection. By bridging the gap between traditional finance and the digital asset world, it showcases the transformative potential of such instruments in the evolving financial landscape. As Europe leads, US remains reluctant Europe’s introduction of a spot Bitcoin ETF sets it apart as a pioneer, especially when contrasted with the United States, which, despite its dominant crypto market presence, has been reticent in approving a spot Bitcoin ETF. This strategic divergence could recalibrate global financial market dynamics, potentially positioning Europe as a magnet for digital asset investments. The more conservative stance in the U.S., likely rooted in regulatory apprehensions and market fluctuations, accentuates the differences in regulatory visions between the two jurisdictions. It also highlights the challenges and opportunities that digital assets present, emphasizing the need for a nuanced and informed regulatory perspective. Ripple effects beyond Bitcoin The spot Bitcoin ETF’s introduction might act as a catalyst — it’s akin to opening a door, inviting other digital assets to step into the spotlight. This pioneering step could spur the development of ETFs for other major cryptocurrencies or even lead to the creation of multi-asset cryptocurrency ETFs. The ETF’s debut could also influence investor strategies, potentially driving more institutional investment into the digital asset space. Old giants learning new dance Traditional financial entities, spanning banks to asset managers, now grapple with the undeniable reality of digital assets becoming mainstream. The once clear lines between traditional finance and the world of cryptocurrencies are blurring. As digital assets gain legitimacy, especially with regulatory clarity in certain jurisdictions, the financial sector is undergoing a transformative shift. We’re also witnessing an uptick in traditional banks establishing relationships with crypto companies, propelled, in part, by the U.S. bank closures earlier this year. In March, Coinbase partnered with Standard Chartered in Singapore for free fund transfers. Following Silicon Valley Bank’s failure , Circle announced Cross River as its new banking partner. In Switzerland, Arab Bank reported an increase in U.S. firms from the crypto space seeking banking services after Silvergate’s collapse. The broader financial sector might witness seismic shifts in asset allocation strategies, advisory services, and financial product portfolios in response to this digital renaissance. The dynamic landscape painted above highlights the adaptability of the financial world. Grayscale’s effect on regulatory perspectives Grayscale’s recent court victory over the U.S. Securities and Exchange Commission is a testament to the changing tides. The federal appeals court’s decision to side with Grayscale, challenging the SEC’s rejection of their spot Bitcoin ETF, is significant. According to JPMorgan analyst Nikolaos Panigirtzoglou in a recent note : “It looks more likely that the SEC would be forced to approve the Spot Bitcoin ETF applications that are still pending from several asset managers, including that from Grayscale.” This not only underscores the growing acceptance of digital assets but also highlights the need for regulatory bodies to adapt to the evolving financial landscape. Grayscale’s landmark victory against the SEC has set a precedent that could catalyze the approval of multiple spot Bitcoin ETFs. This development could inject more competition into the market, potentially lowering fees for investors. Balancing innovation and regulation The introduction of an avant-garde financial instrument like a spot Bitcoin ETF is not devoid of pitfalls. From market volatility to regulatory uncertainties, there are challenges to consider. Vigilant regulatory oversight becomes paramount to anchor market stability and shield investors from potential market manipulations or fraud. As with any investment, education is key. Ensuring that investors are well-informed can prevent speculative bubbles and uninformed investment decisions. Europe’s Bitcoin ETF introduction signals a new era in finance, where digital assets and traditional finance come together. As Europe treads this new path, the balance between innovation and regulation will be pivotal to ensure a stable and prosperous financial future. The journey has just begun. Collaborative efforts, informed regulations and continuous education will be crucial as Europe navigates the evolving digital asset space. And Grayscale’s win across the water is another positive sign of progress.', 'The crypto world is abuzz with Europe’sgroundbreaking introductionof its first spot Bitcoin exchange-traded fund fromJacobi Asset Management, listed on Euronext Amsterdam — a listing that took two years after initial approval in 2021. This development marks a pivotal moment in the continent’s financial history and sets a precedent for other jurisdictions to potentially follow.\nIn the wake of this, there’s a palpable sense of anticipation. As digital assets gain traction, Europe’s decision underscores a commitment to innovation while addressing the complexities of the crypto market — the harbinger of a global shift towards a more inclusive and diversified financial ecosystem. With Hong Kong’s renewed ambition to be a major crypto hub and debuting retail crypto trading via licensed exchanges, it may not be long before we see the first spot Bitcoin ETF in Asia, too.\nOver the past decade, Europe has witnessed a steady growth and acceptance of digital assets. From the grassroots level of early enthusiasts trading cryptocurrencies to towering financial institutions exploring and adopting blockchain solutions, the continent has championed digital asset innovation.\nThis commitment to progress has set the stage for the current developments. Pivotal regulatory discussions, such as the European Union’s deliberations on theMarkets in Crypto Assets (MiCA)regulation, have sculpted the digital financial landscape in Europe. These regulatory strides, buoyed by interest from institutional investors, have culminated in the introduction of the spot Bitcoin ETF, marking a significant leap forward.\nA spot Bitcoin ETF offers a more appealing route for institutional and professional investors to invest in Bitcoin through a more familiar product structure. The ETF offers a structured and regulated way for investors to tap into Bitcoin’s potential. Unlike holding Bitcoin directly, which comes with security and storage concerns, the ETF provides a more traditional investment vehicle.\nJacobi’s ETF is regulated by theGuernsey Financial Services Commissionand trades under the ticker BCOIN. What sets Jacobi’s Spot Bitcoin ETF apart is its stringent regulatory compliance, ensuring investor protection. By bridging the gap between traditional finance and the digital asset world, it showcases the transformative potential of such instruments in the evolving financial landscape.\nEurope’s introduction of a spot Bitcoin ETF sets it apart as a pioneer, especially when contrasted with the United States, which, despite its dominant crypto market presence, has been reticent in approving a spot Bitcoin ETF.\nThis strategic divergence could recalibrate global financial market dynamics, potentially positioning Europe as a magnet for digital asset investments. The more conservative stance in the U.S., likely rooted in regulatory apprehensions and market fluctuations, accentuates the differences in regulatory visions between the two jurisdictions. It also highlights the challenges and opportunities that digital assets present, emphasizing the need for a nuanced and informed regulatory perspective.\nThe spot Bitcoin ETF’s introduction might act as a catalyst — it’s akin to opening a door, inviting other digital assets to step into the spotlight. This pioneering step could spur the development of ETFs for other major cryptocurrencies or even lead to the creation of multi-asset cryptocurrency ETFs.\nThe ETF’s debut could also influence investor strategies, potentially driving more institutional investment into the digital asset space.\nTraditional financial entities, spanning banks to asset managers, now grapple with the undeniable reality of digital assets becoming mainstream. The once clear lines between traditional finance and the world of cryptocurrencies are blurring. As digital assets gain legitimacy, especially with regulatory clarity in certain jurisdictions, the financial sector is undergoing a transformative shift.\nWe’re also witnessing anuptickin traditional banks establishing relationships with crypto companies, propelled, in part, by the U.S. bank closures earlier this year. In March, Coinbasepartneredwith Standard Chartered in Singapore for free fund transfers. FollowingSilicon Valley Bank’s failure,Circle announced Cross Riveras its new banking partner. In Switzerland, Arab Bankreportedan increase in U.S. firms from the crypto space seeking banking services after Silvergate’s collapse.\nThe broader financial sector might witness seismic shifts in asset allocation strategies, advisory services, and financial product portfolios in response to this digital renaissance. The dynamic landscape painted above highlights the adaptability of the financial world.\nGrayscale’s recent court victoryover the U.S. Securities and Exchange Commission is a testament to the changing tides. The federal appeals court’s decision to side with Grayscale, challenging the SEC’s rejection of their spot Bitcoin ETF, is significant. According to JPMorgan analyst Nikolaos Panigirtzoglou in a recentnote: “It looks more likely that the SEC would be forced to approve the Spot Bitcoin ETF applications that are still pending from several asset managers, including that from Grayscale.” This not only underscores the growing acceptance of digital assets but also highlights the need for regulatory bodies to adapt to the evolving financial landscape.\nGrayscale’s landmark victory against the SEC has set a precedent that could catalyze the approval of multiple spot Bitcoin ETFs. This development could inject more competition into the market, potentially lowering fees for investors.\nThe introduction of an avant-garde financial instrument like a spot Bitcoin ETF is not devoid of pitfalls. From market volatility to regulatory uncertainties, there are challenges to consider. Vigilant regulatory oversight becomes paramount to anchor market stability and shield investors from potential market manipulations or fraud. As with any investment, education is
**Last 60 Days of Bitcoin's Closing Prices:**
[]
Use the additional daily data provided in the input below for crucial context.
|
Daily Context for Date: 2023-09-18
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $519,926,708,312
- Hash Rate: 419923635.7164705
- Transaction Count: 635845.0
- Unique Addresses: 852484.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.46
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Good morning. Here’s what’s happening:
Prices:Bitcoin slogs below $30K while LINK soars. Other major cryptos spend their day in negative territory.
Insights:Bitcoin's Fear and Greed Index reflects a market that hasn't been going anywhere fast for the better part of six weeks.
CoinDesk Market Index (CMI)
1,258
−0.9▼0.1%
Bitcoin (BTC)
$29,809
−101.1▼0.3%
Ethereum (ETH)
$1,892
+2.9▲0.2%
S&P 500
4,534.87
−30.9▼0.7%
Gold
$1,975
−3.0▼0.2%
Nikkei 225
32,490.52
−405.5▼1.2%
BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
[["1,258", "\u22120.9\u25bc0.1%"], {"CoinDesk Market Index (CMI)": "Bitcoin (BTC)"}, ["$29,809", "\u2212101.1\u25bc0.3%"], {"CoinDesk Market Index (CMI)": "Ethereum (ETH)"}, ["$1,892", "+2.9\u25b20.2%"], {"CoinDesk Market Index (CMI)": "S&P 500"}, ["4,534.87", "\u221230.9\u25bc0.7%"], {"CoinDesk Market Index (CMI)": "Gold"}, ["$1,975", "\u22123.0\u25bc0.2%"], {"CoinDesk Market Index (CMI)": "Nikkei 225"}, ["32,490.52", "\u2212405.5\u25bc1.2%"], {"CoinDesk Market Index (CMI)": "BTC/ETH prices perCoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)"}]
Markets Remain Sluggish, but Not LINK
A tumbling tech sector and rising dollar on Thursday kept crypto investors in their recent, rangebound trance.
Bitcoin, the largest cryptocurrency by market capitalization, was recently trading at $29,809, down slightly over the past 24 hours. At one point during the day, BTC dipped perilously near a one-month low set earlier this week near $29,500. More than five weeks after spiking following multiple spot bitcoin ETF filings, bitcoin has been unable to escape the $30,000 to $31,000 range – at least for long.
“There’s a lot of bearish sentiment on Crypto Twitter about this pullback, but I think the factors behind it are pretty simple," Anthony Georgiades, co-founder of NFT and Web3 blockchain Pastel Network, wrote in an email to CoinDesk.
Georgiades noted that the tech sell-off that was at least partly spurred by comments from Tesla founder Elon Musk that the electric car maker might have to reduce prices, and the strengthening dollar, had weighed on "bitcoin and the broader crypto market."
Ether, the second largest crypto in market value, was recently changing hands at $1,892, up a smidgen from Wednesday, same time. Most other major cryptos by market cap spent Thursday slogging into the red with XRP losing some of its big gains from the day before to trade below 80 cents – recently off more than 4%, and ADA and SOL, the tokens of smart contract platforms Cardano and Solana, down nearly as much.
The big exception was LINK, the native currency of the Chainlink software platform that connects blockchains with external data. It recently soared by more than 20% to trade above $8 after whales acquired more than $6 million of the token, an apparent reaction to Chainlink's release of an interoperability protocol.
Read More:Chainlink's Interoperability Protocol, Connecting Blockchains to ‘Bank Chains,’ Goes Live
TheCoinDesk Market Index, a measure of crypto markets performance was recently down 0.1%.
Equity markets were mixed with the Dow Jones Industrial Average continuing a recent winning streak but the Nasdaq plummeting more than 2% on the Tesla news and soft earnings by streaming service Netflix. In a note to CoinDesk, Mark Connors, head of research at Canadian digital asset manager 3iQ, also highlighted missed results by Taiwan Semiconductor, which put "an extra hit on AI stocks." The dollar index tipped downward to continue a recent trend.
Still, Pastel Network's Georgiades was cautiously upbeat about crypto markets. "The underlying sentiment hasn’t changed much since yesterday or the preceding days," he wrote. I know the permabears have been calling for a major selloff, but it seems less likely that this is in the cards.
He added: "Monetary conditions are likely to loosen here soon, and that will help serve as a catalyst for risk-on assets.”
[{"Asset": "Gala", "Ticker": "GALA", "Returns": "+2.4%", "DACS Sector": "Entertainment"}, {"Asset": "Ethereum", "Ticker": "ETH", "Returns": "+0.4%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Cosmos", "Ticker": "ATOM", "Returns": "+0.3%", "DACS Sector": "Smart Contract Platform"}]
[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\u221217.4%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "XRP", "Ticker": "XRP", "Returns": "\u22126.6%", "DACS Sector": "Currency"}, {"Asset": "Cardano", "Ticker": "ADA", "Returns": "\u22126.2%", "DACS Sector": "Smart Contract Platform"}]
Fear and Greed Turns Neutral
TheBitcoin Fear and Greed Indexhas fallen into neutral territory, indicating that investor sentiment for the asset has cooled recently.
The metric, derived byAlternative.me, gauges investor sentiment across five distinct factors, and distills them into one number ranging from 0-100. Readings close to 0 indicate extreme fear, while readings closer to 100 indicate extreme greed.
Often, extreme fear coincides with buying opportunities, as investors are likely behaving too cautiously. Extreme greed can coincide with a market that is overheated.
The most recent reading indicates a market that is in flux, with neither bulls or bears willing to take a strong stance in either direction.
All told, the reading adds evidence that BTC is poised to trade in a range for the foreseeable future.
This article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see ourEthics Policy.
ETHGlobal Paris (France)
2:00 p.m. HKT/SGT(6:00 UTC)United Kingdom Retail Sales (MoM/June)
8:30 p.m. HKT/SGT(12:30 UTC)Canada Retail Sales (MoM/May)
In case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:
SEC's Gensler Grilled by Lawmakers; Spot Bitcoin ETFs Could Bring $30B in New Demand: NYDIG
Bitcoin spot-based ETFs could bring $30 billion in new demand for the world’s largest digital asset, according to NYDIG. Howard Fischer, Moses Singer partner and former SEC senior trial counsel shared his outlook on crypto regulation in the U.S. as SEC chair Gary Gensler faces questioning from lawmakers. Futureverse founder Aaron McDonald discussed his metaverse startup's latest funding round. And,StockCharts.com's Julius de Kempenaer shared his crypto markets analysis.
Coinbase to Wind Down Lending Program Over Coming Months:The exchange is requiring Coinbase Borrow customers with outstanding loan balances to pay them back by November 20.
Tokenized: This Week in Real-World Assets:A weekly digest of articles, reports and analyses about tokenized RWAs, the fast-growing financial instruments that merge traditional finance to the blockchain.
Macro State of Crypto – Where It Has Been and What's Next:Analytics can offer insight into how recent and past crypto and regulatory events have affected prices and movement. Plus: A quick Q&A on retirement funds.
Chainlink’s LINK Climbs as Whales Add to Holdings Following Protocol Release:The CCIP protocol is designed to help build cross-chain applications and services and went live for early access users on the Avalanche, Ethereum, Optimism and Polygon blockchains this week....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
| |
You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin rose on Tuesday morning in Asia to around US$26,700, after briefly breaching the US$27,000 resistance level on Monday evening. Ether also logged gains but remained below US$1,650. Most other top 10 non-stablecoin cryptocurrencies moved higher in the past 24 hours, with Toncoin leading the winners with a jump of more than 5%. The rally coincided with a rebound in crypto trading activities and expectations that the Federal Reserve will pause its interest rate hikes this week. U.S. stock futures traded flat after Wall Street closed near the flatline on Monday.\nBitcoin rose 1.11% in the last 24 hours to US$26,778.93 as of 07:30 a.m. in Hong Kong and added 6.62% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency surged on Monday evening to reach US$27,414.73 — the highest price since August 31, but soon retreated to below US$27,000.\nThe sudden rally in Bitcoin caught some investors off-guard, who had liquidated over US$44 million in Bitcoin positions in the past 24 hours, with over US$31 million of them in short positions, according toCoinglassdata.\n“Market activity seems to be growing again, after an abrupt decrease during summer months,” Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note.\nThe cumulative daily volume on centralized exchanges from Sept. 10 to Sept. 17 reached US$11.3 billion, marking a 19% increase from the 7 days before, noted Greco.\n“With the end of summer and the resumption of normal trading activity, the market is likely to see increased volatility again, after BTC reached the minimum volatility levels ever recorded on a 30-day basis during the first two weeks of August,” Greco said.\nAlong with Bitcoin, Ether rose 1.20% to US$1,638.41 and moved up 5.90% for the week. The second top cryptocurrency reached US$1,667.93 on Monday evening, which was also the highest price since August 31.\n“Beyond the macro tilt that left risk assets little changed, yesterday, it seems that BTC and ETH continue to outperform relative to altcoins,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\nOn the regulatory front in the U.S., the New York State Department of Financial Services (NYDFS) on Mondayproposedan updated guideline for crypto exchanges, which includes more strict rules on listing and delisting cryptocurrencies, cutting the list ofpre-approved cryptosfrom two dozen to only Bitcoin and Ether as well as six stablecoins.\n“This probably pushed investors to rotate into safer assets within the crypto space,” said d’Anethan.\nMost other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours. Toncoin spearheaded the winners, which surged 5.03% to US$2.41. The native token of the TON Network has jumped 46.96% in the past seven days.\nToncoin received a boost last week from a Thursdayannouncementthat messaging app giant Telegram had partnered with TON to provide a self-custodial digital wallet — TON Space — that is available to the 800 million Telegram users.\n“It’s heartwarming to see social platforms gear up to more crypto functionality and one can’t help but assume that X (formerly Twitter) will be doing something similar and then, if that happens, that most social media platforms will need to follow suit,” said d’Anethan.\nBinance’s BNB was the only top 10 token logging a 24-hour loss, which dipped 0.12% to US$216.04 and was still trading 5.03% higher for the week. The world’s largest crypto exchange is facing mountingregulatory challengesin the U.S., with the chief executive officer of Binance U.S. leaving the firm last week.\nThe total crypto market capitalization gained 1.24% in the past 24 hours to US$1.07 trillion, while trading volume surged 76.96% to US$31.02 billion.\nU.S. stock futures edged higher as of 09:00 a.m. in Hong Kong. Wall Street closed flat on Monday, with all three major U.S. indexes logging gains within 0.07%.\nMost main stock indexes in Asia went lower on Tuesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all logged losses.\nInvestors are now waiting for the Federal Reserve’s Wednesday decision on interest rates, which are now between 5.25% and 5.50% — the highest level in the past 22 years.\nTheCME FedWatch Toolpredicts a 99% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20. It gives a 71% chance for another pause in November, down from 73% on Monday.\n“The meeting is consequently expected to have no impact on the (crypto) market, investors have already priced in with certainty that rates remain on hold,” said Greco at Fineqia International.\nAll eyes are now on the Fed Chair Jerome Powell’s remark that will accompany the interest rate decision on Wednesday, which could provide further insights into the central bank’s future monetary policies.\n“We think the Fed will take a ‘hawkish pause’ this week and the futures market will reprice a higher probability for another rate hike before year end,” Megan Horneman, chief investment officer at Verdence Capital Advisors, toldBloombergon Tuesday. “Unfortunately, inflation is very easy to reignite especially if energy prices begin to filter into broad prices. Therefore, we think the Fed will need to insinuate they may not be done raising rates.”\nThe global oil benchmark Brent crude futures traded right below US$95 on Tuesday morning, which gained over 30% in the past three months. The price surge was fueled by Saudi Arabia and Russiaannouncingearlier this month that they would extend a combined oil supply cut of 1.3 million barrels per day to the end of the year.\nMeanwhile in China, at a Monday symposium attended by representatives from foreign companies including JPMorgan Chase & Co. and Tesla Inc., People’s Bank of China Governor Pan Gongsheng vowed to consider more measures to stabilize foreign investment and trade, according toBloombergon Monday.\nThe move came amid tensions between Washington and Beijing, with some Chinese government agencies in September reportedlyrestrictingtheir staff from bringing Apple iPhones to offices.\n(Updates with equity section.)', 'Bitcoin rose on Tuesday morning in Asia to around US$26,700, after briefly breaching the US$27,000 resistance level on Monday evening. Ether also logged gains but remained below US$1,650. Most other top 10 non-stablecoin cryptocurrencies moved higher in the past 24 hours, with Toncoin leading the winners with a jump of more than 5%. The rally coincided with a rebound in crypto trading activities and expectations that the Federal Reserve will pause its interest rate hikes this week. U.S. stock futures traded flat after Wall Street closed near the flatline on Monday.\nBitcoin rose 1.11% in the last 24 hours to US$26,778.93 as of 07:30 a.m. in Hong Kong and added 6.62% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency surged on Monday evening to reach US$27,414.73 — the highest price since August 31, but soon retreated to below US$27,000.\nThe sudden rally in Bitcoin caught some investors off-guard, who had liquidated over US$44 million in Bitcoin positions in the past 24 hours, with over US$31 million of them in short positions, according toCoinglassdata.\n“Market activity seems to be growing again, after an abrupt decrease during summer months,” Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note.\nThe cumulative daily volume on centralized exchanges from Sept. 10 to Sept. 17 reached US$11.3 billion, marking a 19% increase from the 7 days before, noted Greco.\n“With the end of summer and the resumption of normal trading activity, the market is likely to see increased volatility again, after BTC reached the minimum volatility levels ever recorded on a 30-day basis during the first two weeks of August,” Greco said.\nAlong with Bitcoin, Ether rose 1.20% to US$1,638.41 and moved up 5.90% for the week. The second top cryptocurrency reached US$1,667.93 on Monday evening, which was also the highest price since August 31.\n“Beyond the macro tilt that left risk assets little changed, yesterday, it seems that BTC and ETH continue to outperform relative to altcoins,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\nOn the regulatory front in the U.S., the New York State Department of Financial Services (NYDFS) on Mondayproposedan updated guideline for crypto exchanges, which includes more strict rules on listing and delisting cryptocurrencies, cutting the list ofpre-approved cryptosfrom two dozen to only Bitcoin and Ether as well as six stablecoins.\n“This probably pushed investors to rotate into safer assets within the crypto space,” said d’Anethan.\nMost other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours. Toncoin spearheaded the winners, which surged 5.03% to US$2.41. The native token of the TON Network has jumped 46.96% in the past seven days.\nToncoin received a boost last week from a Thursdayannouncementthat messaging app giant Telegram had partnered with TON to provide a self-custodial digital wallet — TON Space — that is available to the 800 million Telegram users.\n“It’s heartwarming to see social platforms gear up to more crypto functionality and one can’t help but assume that X (formerly Twitter) will be doing something similar and then, if that happens, that most social media platforms will need to follow suit,” said d’Anethan.\nBinance’s BNB was the only top 10 token logging a 24-hour loss, which dipped 0.12% to US$216.04 and was still trading 5.03% higher for the week. The world’s largest crypto exchange is facing mountingregulatory challengesin the U.S., with the chief executive officer of Binance U.S. leaving the firm last week.\nThe total crypto market capitalization gained 1.24% in the past 24 hours to US$1.07 trillion, while trading volume surged 76.96% to US$31.02 billion.\nU.S. stock futures edged higher as of 09:00 a.m. in Hong Kong. Wall Street closed flat on Monday, with all three major U.S. indexes logging gains within 0.07%.\nMost main stock indexes in Asia went lower on Tuesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all logged losses.\nInvestors are now waiting for the Federal Reserve’s Wednesday decision on interest rates, which are now between 5.25% and 5.50% — the highest level in the past 22 years.\nTheCME FedWatch Toolpredicts a 99% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20. It gives a 71% chance for another pause in November, down from 73% on Monday.\n“The meeting is consequently expected to have no impact on the (crypto) market, investors have already priced in with certainty that rates remain on hold,” said Greco at Fineqia International.\nAll eyes are now on the Fed Chair Jerome Powell’s remark that will accompany the interest rate decision on Wednesday, which could provide further insights into the central bank’s future monetary policies.\n“We think the Fed will take a ‘hawkish pause’ this week and the futures market will reprice a higher probability for another rate hike before year end,” Megan Horneman, chief investment officer at Verdence Capital Advisors, toldBloombergon Tuesday. “Unfortunately, inflation is very easy to reignite especially if energy prices begin to filter into broad prices. Therefore, we think the Fed will need to insinuate they may not be done raising rates.”\nThe global oil benchmark Brent crude futures traded right below US$95 on Tuesday morning, which gained over 30% in the past three months. The price surge was fueled by Saudi Arabia and Russiaannouncingearlier this month that they would extend a combined oil supply cut of 1.3 million barrels per day to the end of the year.\nMeanwhile in China, at a Monday symposium attended by representatives from foreign companies including JPMorgan Chase & Co. and Tesla Inc., People’s Bank of China Governor Pan Gongsheng vowed to consider more measures to stabilize foreign investment and trade, according toBloombergon Monday.\nThe move came amid tensions between Washington and Beijing, with some Chinese government agencies in September reportedlyrestrictingtheir staff from bringing Apple iPhones to offices.\n(Updates with equity section.)', 'Bitcoin rose on Tuesday morning in Asia to around US$26,700, after briefly breaching the US$27,000 resistance level on Monday evening. Ether also logged gains but remained below US$1,650. Most other top 10 non-stablecoin cryptocurrencies moved higher in the past 24 hours, with Toncoin leading the winners with a jump of more than 5%. The rally coincided with a rebound in crypto trading activities and expectations that the Federal Reserve will pause its interest rate hikes this week. U.S. stock futures traded flat after Wall Street closed near the flatline on Monday. Bitcoin breached US$27,000 for the first time in September Bitcoin rose 1.11% in the last 24 hours to US$26,778.93 as of 07:30 a.m. in Hong Kong and added 6.62% for the week, according to CoinMarketCap data. The world’s largest cryptocurrency surged on Monday evening to reach US$27,414.73 — the highest price since August 31, but soon retreated to below US$27,000. The sudden rally in Bitcoin caught some investors off-guard, who had liquidated over US$44 million in Bitcoin positions in the past 24 hours, with over US$31 million of them in short positions, according to Coinglass data. “Market activity seems to be growing again, after an abrupt decrease during summer months,” Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, said in an emailed note. The cumulative daily volume on centralized exchanges from Sept. 10 to Sept. 17 reached US$11.3 billion, marking a 19% increase from the 7 days before, noted Greco. “With the end of summer and the resumption of normal trading activity, the market is likely to see increased volatility again, after BTC reached the minimum volatility levels ever recorded on a 30-day basis during the first two weeks of August,” Greco said. Along with Bitcoin, Ether rose 1.20% to US$1,638.41 and moved up 5.90% for the week. The second top cryptocurrency reached US$1,667.93 on Monday evening, which was also the highest price since August 31. Story continues “Beyond the macro tilt that left risk assets little changed, yesterday, it seems that BTC and ETH continue to outperform relative to altcoins,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. On the regulatory front in the U.S., the New York State Department of Financial Services (NYDFS) on Monday proposed an updated guideline for crypto exchanges, which includes more strict rules on listing and delisting cryptocurrencies, cutting the list of pre-approved cryptos from two dozen to only Bitcoin and Ether as well as six stablecoins. “This probably pushed investors to rotate into safer assets within the crypto space,” said d’Anethan. Most other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours. Toncoin spearheaded the winners, which surged 5.03% to US$2.41. The native token of the TON Network has jumped 46.96% in the past seven days. Toncoin received a boost last week from a Thursday announcement that messaging app giant Telegram had partnered with TON to provide a self-custodial digital wallet — TON Space — that is available to the 800 million Telegram users. “It’s heartwarming to see social platforms gear up to more crypto functionality and one can’t help but assume that X (formerly Twitter) will be doing something similar and then, if that happens, that most social media platforms will need to follow suit,” said d’Anethan. Binance’s BNB was the only top 10 token logging a 24-hour loss, which dipped 0.12% to US$216.04 and was still trading 5.03% higher for the week. The world’s largest crypto exchange is facing mounting regulatory challenges in the U.S., with the chief executive officer of Binance U.S. leaving the firm last week. The total crypto market capitalization gained 1.24% in the past 24 hours to US$1.07 trillion, while trading volume surged 76.96% to US$31.02 billion. U.S. equities flat ahead of Fed interest rate decision Image: Getty Images U.S. stock futures edged higher as of 09:00 a.m. in Hong Kong. Wall Street closed flat on Monday, with all three major U.S. indexes logging gains within 0.07%. Most main stock indexes in Asia went lower on Tuesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all logged losses. Investors are now waiting for the Federal Reserve’s Wednesday decision on interest rates, which are now between 5.25% and 5.50% — the highest level in the past 22 years. The CME FedWatch Tool predicts a 99% chance the central bank will maintain the current rate unchanged in its meeting on Sept. 20. It gives a 71% chance for another pause in November, down from 73% on Monday. “The meeting is consequently expected to have no impact on the (crypto) market, investors have already priced in with certainty that rates remain on hold,” said Greco at Fineqia International. All eyes are now on the Fed Chair Jerome Powell’s remark that will accompany the interest rate decision on Wednesday, which could provide further insights into the central bank’s future monetary policies. “We think the Fed will take a ‘hawkish pause’ this week and the futures market will reprice a higher probability for another rate hike before year end,” Megan Horneman, chief investment officer at Verdence Capital Advisors, told Bloomberg on Tuesday. “Unfortunately, inflation is very easy to reignite especially if energy prices begin to filter into broad prices. Therefore, we think the Fed will need to insinuate they may not be done raising rates.” The global oil benchmark Brent crude futures traded right below US$95 on Tuesday morning, which gained over 30% in the past three months. The price surge was fueled by Saudi Arabia and Russia announcing earlier this month that they would extend a combined oil supply cut of 1.3 million barrels per day to the end of the year. Meanwhile in China, at a Monday symposium attended by representatives from foreign companies including JPMorgan Chase & Co. and Tesla Inc., People’s Bank of China Governor Pan Gongsheng vowed to consider more measures to stabilize foreign investment and trade, according to Bloomberg on Monday. The move came amid tensions between Washington and Beijing, with some Chinese government agencies in September reportedly restricting their staff from bringing Apple iPhones to offices. (Updates with equity section.)', 'The global cryptocurrency market experienced a slight increase of 0.2% to $1.06 trillion on Monday, with major coins such as Bitcoin, Ethereum, and Dogecoin all trading in the green. The market\'s movements mirrored those of stocks, which also ended the day in positive territory.\nBitcoin, Ethereum, and Dogecoin saw gains of 0.9%, 1%, and 1.3% respectively by 10:20 p.m. EDT on Monday, as investors awaited the Federal Reserve\'s decision on interest rates. The Federal Reserve\'s Open Market Committee is expected to arrive at the benchmark interest rates on Wednesday.\nCryptocurrency trader Michaël van de Poppe noted on X, formerly Twitter, that Bitcoin is currently facing resistance and could experience choppy movements for a while before executing a "substantial move upwards." He suggested this could be an opportunity for traders to "play the altcoins."\nMarket intelligence platform Santiment reported that Bitcoin\'s address activity has soared to year highs as halving approaches the 6-month mark. An anonymous analyst suggested that the outcome of the Federal Open Market Committee (FOMC) meeting could induce some volatility in the top cryptocurrency by market cap.\nIn contrast to Bitcoin\'s performance, a CryptoQuant analyst noted on Monday that Ethereum is in a downtrend with negative values on the metric, indicating a bearish market sentiment. However, there has been a recent surge in the metric hinting at a potential shift towards a more bullish sentiment. If this trend continues, Ethereum\'s price may see an upsurge, targeting higher resistance levels.\nOANDA Senior Market Analyst Edward Moya said in a note seen by Benzinga that Wall Street is hopeful that the end of the Federal Reserve\'s inflation fight has arrived, however, this might not be the case due to a resilient economy. He added, "The Fed might try to deliver a hawkish hold, but if markets don\'t believe that they will tighten again, we could see a reversal in the US dollar. Eventually, the risk of more tightening will lead to a sharper hit to growth, which could have some traders start to doubt the soft-landing narrative."\nThe price action of large cryptocurrencies on Monday mirrored those of stocks, with the S&P inching up 0.07% to 4,453.53 and the tech-heavy Nasdaq up 0.01% at 13,710.24. Stock futures were seen largely flat at the time of writing.\nIn other news, discussions around the approval of a long-awaited Bitcoin Spot ETF will take place at Benzinga\'s Future of Digital Assets event in NYC on November 14, 2023.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nCrypto market sees green as investors anticipate Federal Reserve\'s interest rate decision\nLawyer who laundered $400M from OneCoin scam denied new trial: Report\nUS judge declines SEC\'s request for immediate access to Binance.US software', 'The global cryptocurrency market experienced a slight increase of 0.2% to $1.06 trillion on Monday, with major coins such as Bitcoin, Ethereum, and Dogecoin all trading in the green. The market\'s movements mirrored those of stocks, which also ended the day in positive territory. Bitcoin, Ethereum, and Dogecoin saw gains of 0.9%, 1%, and 1.3% respectively by 10:20 p.m. EDT on Monday, as investors awaited the Federal Reserve\'s decision on interest rates. The Federal Reserve\'s Open Market Committee is expected to arrive at the benchmark interest rates on Wednesday. Cryptocurrency trader Michaël van de Poppe noted on X, formerly Twitter, that Bitcoin is currently facing resistance and could experience choppy movements for a while before executing a "substantial move upwards." He suggested this could be an opportunity for traders to "play the altcoins." Market intelligence platform Santiment reported that Bitcoin\'s address activity has soared to year highs as halving approaches the 6-month mark. An anonymous analyst suggested that the outcome of the Federal Open Market Committee (FOMC) meeting could induce some volatility in the top cryptocurrency by market cap. In contrast to Bitcoin\'s performance, a CryptoQuant analyst noted on Monday that Ethereum is in a downtrend with negative values on the metric, indicating a bearish market sentiment. However, there has been a recent surge in the metric hinting at a potential shift towards a more bullish sentiment. If this trend continues, Ethereum\'s price may see an upsurge, targeting higher resistance levels. OANDA Senior Market Analyst Edward Moya said in a note seen by Benzinga that Wall Street is hopeful that the end of the Federal Reserve\'s inflation fight has arrived, however, this might not be the case due to a resilient economy. He added, "The Fed might try to deliver a hawkish hold, but if markets don\'t believe that they will tighten again, we could see a reversal in the US dollar. Eventually, the risk of more tightening will lead to a sharper hit to growth, which could have some traders start to doubt the soft-landing narrative." Story continues The price action of large cryptocurrencies on Monday mirrored those of stocks, with the S&P inching up 0.07% to 4,453.53 and the tech-heavy Nasdaq up 0.01% at 13,710.24. Stock futures were seen largely flat at the time of writing. In other news, discussions around the approval of a long-awaited Bitcoin Spot ETF will take place at Benzinga\'s Future of Digital Assets event in NYC on November 14, 2023. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles Crypto market sees green as investors anticipate Federal Reserve\'s interest rate decision Lawyer who laundered $400M from OneCoin scam denied new trial: Report US judge declines SEC\'s request for immediate access to Binance.US software', 'The Australian shares were set to open lower today, while the U.S. stocks remained largely unchanged with a heightened focus on the outlook for interest rates. ASX futures dipped by 21 points or 0.3% to 7214 around 7 am AEST. On Wall Street, the Dow Jones Industrial Average, S&P 500, and Nasdaq saw minor changes of +0.02%, +0.07%, and +0.01% respectively. In New York, BHP fell by 0.3%, Rio Tinto (NYSE:RIO) by 0.9%, while Atlassian (NASDAQ:TEAM) gained by 0.9%. Tesla (NASDAQ:TSLA) shares dropped by 3.3% while Apple (NASDAQ:AAPL)\'s shares rose by 1.7% on the back of strong iPhone 15 pre-orders. Amazon (NASDAQ:AMZN) saw a slight dip of 0.3%. The local currency modestly appreciated while the Bloomberg dollar spot index slightly declined. On the cryptocurrency front, Bitcoin was up by 1.2% to $26,785 at 7.15 am AEST on bitstamp.net after briefly surpassing the $27,000 mark. The yield on the U.S. 10-year note was down by three basis points to 4.30% at 4.59 pm in New York. The Federal Reserve is expected to maintain rates at 5.25% to 5.5% during its meeting on Wednesday, with nearly a 70% likelihood for another pause in November according to the CME FedWatch Tool. JPMorgan strategists noted a clear distinction between European rate hikes and an anticipated pause from the Federal Reserve that aligns with earlier decisions made by Bank of Canada and Reserve Bank of Australia. They highlighted a common message across central banks guiding towards a \'high for long\' pause. In other news, Morgan Stanley suggested a portfolio of defensive growth is suitable for a "late cycle" trading market. Russell \'Rusty\' Delroy, founder and investment manager of boutique Cottesloe firm Nero Resources Fund, expressed confidence in the oil and gas sector, citing a severe misalignment between company valuations, investor sentiment, and actual supply-demand metrics. He sees value in oil and gas majors like BP (LON:NYSE:BP), which he believes will remain relevant for a long time. Story continues This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles U.S. stocks steady amid interest rate outlook, Apple rallies on iPhone 15 pre-orders Nordea Bank cancels 12.3 million treasury shares RR Kabel set for Dalal Street debut, grey market signals mild listing pop', 'The Australian shares were set to open lower today, while the U.S. stocks remained largely unchanged with a heightened focus on the outlook for interest rates. ASX futures dipped by 21 points or 0.3% to 7214 around 7 am AEST. On Wall Street, the Dow Jones Industrial Average, S&P 500, and Nasdaq saw minor changes of +0.02%, +0.07%, and +0.01% respectively.\nIn New York, BHP fell by 0.3%, Rio Tinto (NYSE:RIO) by 0.9%, while Atlassian (NASDAQ:TEAM) gained by 0.9%. Tesla (NASDAQ:TSLA) shares dropped by 3.3% while Apple (NASDAQ:AAPL)\'s shares rose by 1.7% on the back of strong iPhone 15 pre-orders. Amazon (NASDAQ:AMZN) saw a slight dip of 0.3%. The local currency modestly appreciated while the Bloomberg dollar spot index slightly declined.\nOn the cryptocurrency front, Bitcoin was up by 1.2% to $26,785 at 7.15 am AEST on bitstamp.net after briefly surpassing the $27,000 mark. The yield on the U.S. 10-year note was down by three basis points to 4.30% at 4.59 pm in New York.\nThe Federal Reserve is expected to maintain rates at 5.25% to 5.5% during its meeting on Wednesday, with nearly a 70% likelihood for another pause in November according to the CME FedWatch Tool.\nJPMorgan strategists noted a clear distinction between European rate hikes and an anticipated pause from the Federal Reserve that aligns with earlier decisions made by Bank of Canada and Reserve Bank of Australia. They highlighted a common message across central banks guiding towards a \'high for long\' pause.\nIn other news, Morgan Stanley suggested a portfolio of defensive growth is suitable for a "late cycle" trading market. Russell \'Rusty\' Delroy, founder and investment manager of boutique Cottesloe firm Nero Resources Fund, expressed confidence in the oil and gas sector, citing a severe misalignment between company valuations, investor sentiment, and actual supply-demand metrics. He sees value in oil and gas majors like BP (LON:NYSE:BP), which he believes will remain relevant for a long time.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nU.S. stocks steady amid interest rate outlook, Apple rallies on iPhone 15 pre-orders\nNordea Bank cancels 12.3 million treasury shares\nRR Kabel set for Dalal Street debut, grey market signals mild listing pop', 'After surging above $30,000,Bitcoin(BTC-USD) has been in a renewed correction mode. I believe that the correction is unlikely to be deep and the digital asset is poised for a strong 2024. In line with this view, the recent correction in Bitcoin is a good opportunity to look at some of the best crypto stocks to buy.\nComing back to the outlook for Bitcoin, I believe that the halving event is the single biggest catalyst for a rally. Further, interest rates have peaked, andany potential rate cut in 2024is likely to trigger a big rally for risky asset classes.\nThere are already some optimistic targets for Bitcoin over the next 12 to 15 months. As an example, Standard Chartered expects Bitcoin totouch $120,000 by the end of 2024. In my view, even if Bitcoin trades above previous highs, the crypto stocks discussed can deliver multibagger returns.\nInvestorPlace - Stock Market News, Stock Advice & Trading Tips\nLet’s discuss the reasons to be bullish.\nSource: Primakov / Shutterstock.com\nCoinbase Global(NASDAQ:COIN) stock has remained sideways in the last 12 months. After a big correction, COIN stock seems to be in a consolidation phase. I would accumulate at current levels of $82 before a breakout on the upside.\nAn important point to note is that trading activity increases significantly in a cryptocurrency bull market. That’s likely to happen in 2024 if Bitcoin surges higher. This will translate into robust growth in trading income for Coinbase. In the downturn of the industry, Coinbase has been expanding its presence. In March, the company initiated anexpansion drive in six continents. A bigger addressable market is likely to support revenue and EBITDA growth.\nIn an early indication of recovery, Coinbase generated positive adjusted EBITDA in Q2 2023. The company ended Q2 2023 withcash and equivalents of $5.5 billion. Through the downturn, Coinbase has maintained a robust liquidity buffer. This will support aggressive investment in expansion and platform innovation once industry sentiments improve.\nSource: Venomous Vector/Shutterstock\nI believe thatRiot Platforms(NASDAQ:RIOT) is among the best crypto stocks to buy for 100% returns. RIOT stock has declined from recent highs of $20.7 to current levels of $10.7. It’s likely that the stock will trade above year-to-date highs in the next 12 to 15 months.\nIn my view, Riot is possibly the best Bitcoin miner to consider. The first reason is strong fundamentals. As of Q2 2023, the company reported cash and digital assets of $510 million. Further, the company has a zero-debt balance sheet. With high financial flexibility, Riot is positioned to pursue aggressive expansion.\nThe company has big plans in terms of mining capacity expansion. As of Q2 2023, Riot reported a hash rate of 10.7EH/s. It’s expected that the hash rate will increase to 20.1EH/s by Q2 2024 andfurther to 35.4EH/s by 2025. This aggressive expansion will translate into robust revenue and cash flow upside if Bitcoin marches higher.\nSource: Yev_1234 / Shutterstock\nMarathon Digital(NASDAQ:MARA) is another Bitcoin mining stock that looks attractive at current levels of $9.8. It’s worth noting that even after a meaningful correction in the recent past, the short interest in the stock is high at 25.7% of the free float. I expect a massive short-squeeze rally once Bitcoin trends higher.\nSpecific to the business, Marathon has been investing aggressively in Bitcoin mining capacity expansion. As of Q2 2023, Marathon reported an average operational hash rate of 12.1EH/s, which was higher by 75% on a year-on-year basis. Further, the company’s installed hash rate has swelled to 21.8EH/s. Beyond the quarter, the company has reached its initial target of 23EH/s capacity.\nMarathon is positioned to furtherinvest in capacity expansionthrough its joint venture in Abu Dhabi. Therefore, the outlook for revenue and EBITDA growth is positive in a Bitcoin rally scenario. If the digital asset trades at all-time highs in 2024, MARA stock will be poised for multibagger returns.\nOn the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.\nFaisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.\n• Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.\n• ChatGPT IPO Could Shock the World, Make This Move Before the Announcement\n• It doesn’t matter if you have $500 or $5 million. Do this now.\nThe post3 Crypto Stocks to Buy for 100% Returns by 2024appeared first onInvestorPlace.', 'After surging above $30,000, Bitcoin ( BTC-USD ) has been in a renewed correction mode. I believe that the correction is unlikely to be deep and the digital asset is poised for a strong 2024. In line with this view, the recent correction in Bitcoin is a good opportunity to look at some of the best crypto stocks to buy. Coming back to the outlook for Bitcoin, I believe that the halving event is the single biggest catalyst for a rally. Further, interest rates have peaked, and any potential rate cut in 2024 is likely to trigger a big rally for risky asset classes. There are already some optimistic targets for Bitcoin over the next 12 to 15 months. As an example, Standard Chartered expects Bitcoin to touch $120,000 by the end of 2024 . In my view, even if Bitcoin trades above previous highs, the crypto stocks discussed can deliver multibagger returns. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Let’s discuss the reasons to be bullish. Coinbase Global (COIN) The Coinbase (COIN stock) logo on a smartphone screen with a BTC token. Crypto winter is setting in. Source: Primakov / Shutterstock.com Coinbase Global (NASDAQ: COIN ) stock has remained sideways in the last 12 months. After a big correction, COIN stock seems to be in a consolidation phase. I would accumulate at current levels of $82 before a breakout on the upside. An important point to note is that trading activity increases significantly in a cryptocurrency bull market. That’s likely to happen in 2024 if Bitcoin surges higher. This will translate into robust growth in trading income for Coinbase. In the downturn of the industry, Coinbase has been expanding its presence. In March, the company initiated an expansion drive in six continents . A bigger addressable market is likely to support revenue and EBITDA growth. In an early indication of recovery, Coinbase generated positive adjusted EBITDA in Q2 2023. The company ended Q2 2023 with cash and equivalents of $5.5 billion . Through the downturn, Coinbase has maintained a robust liquidity buffer. This will support aggressive investment in expansion and platform innovation once industry sentiments improve. Story continues Riot Platforms (RIOT) An image of 4 cubes connected in a web; blockchain Source: Venomous Vector/Shutterstock I believe that Riot Platforms (NASDAQ: RIOT ) is among the best crypto stocks to buy for 100% returns. RIOT stock has declined from recent highs of $20.7 to current levels of $10.7. It’s likely that the stock will trade above year-to-date highs in the next 12 to 15 months. In my view, Riot is possibly the best Bitcoin miner to consider. The first reason is strong fundamentals. As of Q2 2023, the company reported cash and digital assets of $510 million. Further, the company has a zero-debt balance sheet. With high financial flexibility, Riot is positioned to pursue aggressive expansion. The company has big plans in terms of mining capacity expansion. As of Q2 2023, Riot reported a hash rate of 10.7EH/s. It’s expected that the hash rate will increase to 20.1EH/s by Q2 2024 and further to 35.4EH/s by 2025 . This aggressive expansion will translate into robust revenue and cash flow upside if Bitcoin marches higher. Marathon Digital (MARA) Macro view of miner working for bitcoins mine pool. Devices and technology for mining cryptocurrency. Mining cryptocurrency concept. MARA stock. Crypto mining. Source: Yev_1234 / Shutterstock Marathon Digital (NASDAQ: MARA ) is another Bitcoin mining stock that looks attractive at current levels of $9.8. It’s worth noting that even after a meaningful correction in the recent past, the short interest in the stock is high at 25.7% of the free float. I expect a massive short-squeeze rally once Bitcoin trends higher. Specific to the business, Marathon has been investing aggressively in Bitcoin mining capacity expansion. As of Q2 2023, Marathon reported an average operational hash rate of 12.1EH/s, which was higher by 75% on a year-on-year basis. Further, the company’s installed hash rate has swelled to 21.8EH/s. Beyond the quarter, the company has reached its initial target of 23EH/s capacity. Marathon is positioned to further invest in capacity expansion through its joint venture in Abu Dhabi. Therefore, the outlook for revenue and EBITDA growth is positive in a Bitcoin rally scenario. If the digital asset trades at all-time highs in 2024, MARA stock will be poised for multibagger returns. On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now. The post 3 Crypto Stocks to Buy for 100% Returns by 2024 appeared first on InvestorPlace .', '• US stocks inched higher Monday as investors eye the Wednesday Fed meeting.\n• Strong iPhone 15 pre-orders pushed Apple stock more than 2% higher intraday.\n• Oil prices continued to advance and hovered near 10-month highs.\nUS stocks inched higher Monday, with strong iPhone 15 demand lifting Apple stock while investors looked ahead the Federal Reserve\'s policy meeting on Wednesday.\nShares of Apple climbed as much as 2.5% on the day, with Wall Street firms pointing to a wave of pre-orders as a sign thatdemand is outpacing supply.\n"We view the extended lead times for the iPhone 15 Pro and iPhone 15 Pro Max as a positive indication of consumer demand," Goldman Sachs strategists said in a Monday note.\nMeanwhile, traders are giving 99% odds of no interest rate move from the central bank at this week\'s two-day meeting, which begins Tuesday, CME\'s FedWatch Tool shows. However, for the November meeting, markets are giving about one-third odds of a 25-basis-point hike.\n"We are in the camp that Jay Powell comes out with a hawkish pause on Wednesday, as there will not be a rate hike, but will continue to buy optionality by releasing a higher dot plot and alluding to the fact that every meeting is live until the Fed hits their 2% inflation target (currently 3.7%)," Victor Masotti, director of repo trading at Clear Street, said in a statement.\nHe added that interest rate futures markets are pricing in the first quarter-point rate cut for the July 31, 2024 meeting.\nHere\'s where US indexes stood as the market closed 4:00 p.m. on Monday:\n• S&P 500:4,453.53, up 0.07%\n• Dow Jones Industrial Average:34,624.30, up 0.02% (6.06 points)\n• Nasdaq Composite:13,710.24, up 0.01%\nHere\'s what else is going on:\n• "Dr. Doom" Nouriel Roubini said he wouldshort US stocksfor the rest of the year.\n• A crypto influencer was arrested in Hong Kong for apotential $128 million fraudinvolving 1,400 people.\n• Global crude is trading close to itshighest level since November.\n• Foreign investors are shunning Chinese stocks and bonds whileBeijing\'s economic headache builds.\n• Surging oil prices could sour soft landing hopes, a market veteran warned.\n• Homebuilder sentimentturned negativefor the first time since April.\n• Investors haveyanked nearly $500 million from crypto fundsthis summer.\nIn commodities, bonds, and crypto:\n• Oil prices climbed, withWest Texas Intermediateup 0.9% to $91.59 a barrel.Brent crude, the international benchmark, rose 0.48% to $94.38 a barrel\n• Goldedged 0.35% higher to $1,953.00 per ounce.\n• The10-year yielddipped less than 1 basis point to 4.313%.\n• Bitcoinclimbed 0.89% to $26,748.\nRead the original article onBusiness Insider', 'Tim Cook. AP US stocks inched higher Monday as investors eye the Wednesday Fed meeting. Strong iPhone 15 pre-orders pushed Apple stock more than 2% higher intraday. Oil prices continued to advance and hovered near 10-month highs. US stocks inched higher Monday, with strong iPhone 15 demand lifting Apple stock while investors looked ahead the Federal Reserve\'s policy meeting on Wednesday. Shares of Apple climbed as much as 2.5% on the day, with Wall Street firms pointing to a wave of pre-orders as a sign that demand is outpacing supply . "We view the extended lead times for the iPhone 15 Pro and iPhone 15 Pro Max as a positive indication of consumer demand," Goldman Sachs strategists said in a Monday note. Meanwhile, traders are giving 99% odds of no interest rate move from the central bank at this week\'s two-day meeting, which begins Tuesday, CME\'s FedWatch Tool shows. However, for the November meeting, markets are giving about one-third odds of a 25-basis-point hike. "We are in the camp that Jay Powell comes out with a hawkish pause on Wednesday, as there will not be a rate hike, but will continue to buy optionality by releasing a higher dot plot and alluding to the fact that every meeting is live until the Fed hits their 2% inflation target (currently 3.7%)," Victor Masotti, director of repo trading at Clear Street, said in a statement. He added that interest rate futures markets are pricing in the first quarter-point rate cut for the July 31, 2024 meeting. Here\'s where US indexes stood as the market closed 4:00 p.m. on Monday: S&P 500 : 4,453.53, up 0.07% Dow Jones Industrial Average : 34,624.30, up 0.02% (6.06 points) Nasdaq Composite : 13,710.24, up 0.01% Here\'s what else is going on: "Dr. Doom" Nouriel Roubini said he would short US stocks for the rest of the year. A crypto influencer was arrested in Hong Kong for a potential $128 million fraud involving 1,400 people. Global crude is trading close to its highest level since November . Foreign investors are shunning Chinese stocks and bonds while Beijing\'s economic headache builds . Surging oil prices could sour soft landing hopes , a market veteran warned. Homebuilder sentiment turned negative for the first time since April. Investors have yanked nearly $500 million from crypto funds this summer. Story continues In commodities, bonds, and crypto: Oil prices climbed, with West Texas Intermediate up 0.9% to $91.59 a barrel. Brent crude , the international benchmark, rose 0.48% to $94.38 a barrel Gold edged 0.35% higher to $1,953.00 per ounce. The 10-year yield dipped less than 1 basis point to 4.313%. Bitcoin climbed 0.89% to $26,748. Read the original article on Business Insider', "The market dominance of Bitcoin (BTC), the leading cryptocurrency, has been on an upward trend, despite its price remaining relatively stable over the past month. As of Tuesday, Bitcoin accounted for more than half of the entire cryptocurrency market with a valuation of nearly $520 billion and a price of $26,690. This increase in market dominance comes at a time when many alternative cryptocurrencies are either stagnating or declining in value. However, it should be noted that Bitcoin is still about 5% lower than its June peak and 23% below its January 2022 peak. On Monday, the Bitcoin market dominance rate rose to 50.2%, its strongest level in a month and near a 26-month high of 52% reached at the end of June. The alpha coin’s market dominance had ranged between nearly 40% and 49% for more than two years before it finally reached the 52% level in June. This was sparked by asset manager BlackRock’s application for a spot BTC exchange-traded fund, which spurred hopes about significant inflows into the asset class. Investors are currently bracing themselves for a possible drop in Bitcoin’s value in September, a historically tough month for the cryptocurrency. This cautious outlook is reinforced by the rising chances of a global economic downturn and stubbornly high inflation. However, some analysts believe that Bitcoin could see a major price increase due to an expected influx of new investment. This surge could help Bitcoin sustain its dominance in the highly-stacked crypto market. Markus Thielen, research head at crypto services provider Matrixport, noted that Bitcoin enjoys more “potential buying pressure” from the ETF listings while altcoins may be on the brink of breaking lower. He cited declining Ethereum protocol revenues and upcoming token unlocks among risks on the altcoin market. Macro analyst Noelle Acheson added that Bitcoin would likely benefit from the latest regulatory changes proposed by the New York Department of Financial Services (NYFDS), which include stricter rules to list cryptocurrencies on exchanges while simultaneously green-listing BTC as a digital asset that license holders can list or custody without further regulatory hurdles. Story continues As the cryptocurrency market experiences a significant liquidity shortage, Bitcoin’s resilience and popularity remain evident. Despite a rapid retracement following a 2% increase in value, Bitcoin has demonstrated its propensity to see significant increases during periods of market downturns. It continues to be the leading and most recognized digital currency, reflecting investors' response to current affairs and whether BTC is losing ground to stablecoins or NFT tokens. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles Bitcoin's market dominance on the rise amid a volatile crypto landscape Short-term Bitcoin holders reel as almost all sit in losses Here’s what happened in crypto today", "The market dominance of Bitcoin (BTC), the leading cryptocurrency, has been on an upward trend, despite its price remaining relatively stable over the past month. As of Tuesday, Bitcoin accounted for more than half of the entire cryptocurrency market with a valuation of nearly $520 billion and a price of $26,690.\nThis increase in market dominance comes at a time when many alternative cryptocurrencies are either stagnating or declining in value. However, it should be noted that Bitcoin is still about 5% lower than its June peak and 23% below its January 2022 peak.\nOn Monday, the Bitcoin market dominance rate rose to 50.2%, its strongest level in a month and near a 26-month high of 52% reached at the end of June.\nThe alpha coin’s market dominance had ranged between nearly 40% and 49% for more than two years before it finally reached the 52% level in June. This was sparked by asset manager BlackRock’s application for a spot BTC exchange-traded fund, which spurred hopes about significant inflows into the asset class.\nInvestors are currently bracing themselves for a possible drop in Bitcoin’s value in September, a historically tough month for the cryptocurrency. This cautious outlook is reinforced by the rising chances of a global economic downturn and stubbornly high inflation.\nHowever, some analysts believe that Bitcoin could see a major price increase due to an expected influx of new investment. This surge could help Bitcoin sustain its dominance in the highly-stacked crypto market.\nMarkus Thielen, research head at crypto services provider Matrixport, noted that Bitcoin enjoys more “potential buying pressure” from the ETF listings while altcoins may be on the brink of breaking lower. He cited declining Ethereum protocol revenues and upcoming token unlocks among risks on the altcoin market.\nMacro analyst Noelle Acheson added that Bitcoin would likely benefit from the latest regulatory changes proposed by the New York Department of Financial Services (NYFDS), which include stricter rules to list
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-19
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $522,090,920,725
- Hash Rate: 385677556.7313763
- Transaction Count: 493887.0
- Unique Addresses: 741822.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.46
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Coinbase's crypto trading revenue dropped in the second quarter as regulators turned up the legal pressure on the largest US cryptocurrency exchange, leading to a net loss that widened from the first quarter.
The slowdown in a key moneymaker for Coinbase (COIN) came as the exchange squared off with the Securities and Exchange Commission, which sued the exchange in June. A key client, giant money manager BlackRock, is also awaiting approval from the same agency to list a spot bitcoin ETF.
Fees earned from customers trading crypto on the Coinbase platform fell by 13% from last quarter and 50% from a year ago to $327 million, the lowest such sales since the end of last year.
That led to a $97 million net loss, slightly higher than the first quarter. It was still better than expected and much smaller than the billion-dollar hit the exchange took during a rough second quarter last year. Its revenues were also better than expected.
The company said it has brought down expenses by 50% since last year, including letting go 30% of staff over the past year.
"These last few quarters have been challenging and invigorating alike," Coinbase told shareholders in a letter it released Thursday.
"But by strengthening our financial health we are well positioned to generate the resources we need to keep investing as we build the future of crypto and help drive regulatory clarity to update the financial system."
The stock of Coinbase was up more than 2% in after-hours trading as of 5:15 p.m. ET following the release of its results. Bitcoin hangs above $29,200, up slightly for the past 24 hours.
The decline in Coinbase's trading came during a three-month period of low activity and heightened US regulatory uncertainty. That legal action from the SEC has not to date hurt Coinbase's stock performance, however.
The SEC is accusing the company of operating an unregistered exchange, broker dealer, and clearing agency by offering certain crypto tokens the agency has claimed are securities. Coinbase disagrees.
"It's actually not really a regulatory issue. It's a political one. It's a battle of political will and political power amongst the federal regulators, which is not doing anybody in the US any good," CEO Brian Armstrong said Wednesday during a regulation discussion over Twitter.
"We will not allow American leadership here to be destroyed by a few outliers in our government painting outside the bounds of the law," Armstrong said during Thursday's earnings call.
Chief legal officer Paul Grewal said during the call that lawyers for Coinbase plan to introduce an order Friday to dismiss its case with the SEC entirely. Grewal said Coinbase expects the order to be "fully submitted and taken under consideration" by the end of October.
BlackRock (BLK) and other asset managers are also seeking approval from the SEC to list a spot bitcoin ETF. All of the applications include a market-sharing agreement that names Coinbase as a key infrastructure partner. When BlackRock filed its application in the middle of June, Coinbase's stock began rising.
Year to date as of Thursday's close, it's up over 156%, though it remains 73% below where it began trading after its April 2021 IPO.
The company is also expanding internationally with plans for crypto derivatives exchange for non-US investors as well as further developing its Layer 2 blockchain, Base.
The major silver lining for Coinbase in the second quarter came from non-trading revenue.
Coinbase reported a better-than-expected $335 million from subscriptions and services. The amount is 137% higher than the revenue stream from a year ago, contributing to more of total revenue than trading fees for the first time.
"A big focus for us over the next year is how we're going to be driving utility in crypto that goes beyond just trading," Armstrong added.
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['By Brigid Riley\nTOKYO, Sept 20 (Reuters) - The dollar remained firm on Wednesday but softened slightly against the yen ahead of a much-anticipated rate decision by the Federal Reserve later in the day.\nThe U.S. dollar index, which measures the greenback against a basket of rivals, stayed mostly flat at 105.13 as traders awaited the Fed\'s rate decision.\nMarkets expect the Fed will almost certainly keep rates on hold at 5.25% to 5.50%, putting the focus on the central bank\'s forward guidance.\nFutures markets are pricing in a 30% likelihood of a quarter-point increase in November or 40% chance it will be in December, according to CME FedWatch tool.\n"We expect the FOMC to retain its forecast of one extra 25 hike by year-end, though it will not follow through with it in our view," said Carol Kong, economist and currency strategist at the Commonwealth Bank of Australia.\nDollar/yen could see some upside pressure after a hawkish FOMC meeting, she added.\nThe yen last sat nearly 0.1% higher at 147.77 versus the greenback, off Tuesday\'s low of 147.92 though hovering near the 10-month trough against the dollar ahead of the FOMC announcement.\nSpeculation increased about a possible sooner-than-expected exit from the Bank of Japan\'s ultra-loose policy, but the central bank will most likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus will stay for the time being amid economic uncertainty.\nJapan\'s top financial diplomat, Masato Kanda, reiterated warnings on Wednesday, saying Japanese authorities are always in close communication on currencies with U.S. and overseas policymakers while keeping a close watch on market moves with a "high sense of urgency".\nMeanwhile, the Australian dollar, a proxy for China growth, rose almost 0.1%, holding onto gains after minutes of the Reserve Bank of Australia\'s latest policy meeting signalled more interest rate increases to come.\nThe New Zealand dollar ticked up over 0.2% against the dollar near $0.5950.\nThe euro and sterling stood mostly unchanged in the Asian morning, at $1.0680 and $1.2391 respectively.\nMarket eyes will be on UK CPI released on Wednesday, the last bit of inflation data to squeeze in before the Bank of England makes their rate decision on Thursday.\nIn cryptocurrencies, bitcoin BTC=BTSP hovered around $27,210, after touching a three-week high on Tuesday.\n(Reporting by Brigid Riley. Editing by Gerry Doyle)', 'By Brigid Riley TOKYO, Sept 20 (Reuters) - The dollar remained firm on Wednesday but softened slightly against the yen ahead of a much-anticipated rate decision by the Federal Reserve later in the day. The U.S. dollar index, which measures the greenback against a basket of rivals, stayed mostly flat at 105.13 as traders awaited the Fed\'s rate decision. Markets expect the Fed will almost certainly keep rates on hold at 5.25% to 5.50%, putting the focus on the central bank\'s forward guidance. Futures markets are pricing in a 30% likelihood of a quarter-point increase in November or 40% chance it will be in December, according to CME FedWatch tool. "We expect the FOMC to retain its forecast of one extra 25 hike by year-end, though it will not follow through with it in our view," said Carol Kong, economist and currency strategist at the Commonwealth Bank of Australia. Dollar/yen could see some upside pressure after a hawkish FOMC meeting, she added. The yen last sat nearly 0.1% higher at 147.77 versus the greenback, off Tuesday\'s low of 147.92 though hovering near the 10-month trough against the dollar ahead of the FOMC announcement. Speculation increased about a possible sooner-than-expected exit from the Bank of Japan\'s ultra-loose policy, but the central bank will most likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus will stay for the time being amid economic uncertainty. Japan\'s top financial diplomat, Masato Kanda, reiterated warnings on Wednesday, saying Japanese authorities are always in close communication on currencies with U.S. and overseas policymakers while keeping a close watch on market moves with a "high sense of urgency". Meanwhile, the Australian dollar, a proxy for China growth, rose almost 0.1%, holding onto gains after minutes of the Reserve Bank of Australia\'s latest policy meeting signalled more interest rate increases to come. Story continues The New Zealand dollar ticked up over 0.2% against the dollar near $0.5950. The euro and sterling stood mostly unchanged in the Asian morning, at $1.0680 and $1.2391 respectively. Market eyes will be on UK CPI released on Wednesday, the last bit of inflation data to squeeze in before the Bank of England makes their rate decision on Thursday. In cryptocurrencies, bitcoin BTC=BTSP hovered around $27,210, after touching a three-week high on Tuesday. (Reporting by Brigid Riley. Editing by Gerry Doyle)', 'Bitcoin rose on Wednesday morning in Asia to trade above US$27,200, after reaching over US$27,400 earlier in the day. Ether remained flat at around US$1,640. All other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours, with Toncoin spearheading the rally with an over 7% increase. The crypto market received a boost from Japan’s leading investment bank Nomura, which announced a Bitcoin-based fund for institutional investors on Tuesday. U.S. stock futures traded flat, after Wall Street closed lower on Tuesday ahead of the U.S. Federal Reserve’s interest rate decision. Bitcoin rose above US$27,400; Nomura unveiled Bitcoin fund Bitcoin rose 1.75% in the last 24 hours to US$27,214.15 as of 07:30 a.m. in Hong Kong and moved up 5.11% for the week, according to CoinMarketCap data. The world’s largest cryptocurrency rallied early Wednesday morning to reach US$27,488.76 — the highest price since Aug. 31, but soon retreated. Laser Digital, a digital asset subsidiary of Japan’s Nomura Holdings, announced on Tuesday the launch of its Bitcoin Adoption Fund, which aims to provide “a seamless way for institutional investors to access the digital asset class.” Nomura, which held around US$500 billion in assets under management, is Japan’s largest investment bank. The recently launched Bitcoin-related fund is the first in a range of digital adoption investment solutions that Laser Digital Asset Management will bring to the market. “Technology is a key driver of global economic growth and is transforming a large part of the economy from analog to digital. Bitcoin is one of the enablers of this long-lasting transformational change and long-term exposure to Bitcoin offers a solution to investors to capture this macro trend,” Sebastien Guglietta, head of Laser Digital Asset Management, said in the announcement. Meanwhile, as the equity market awaits the U.S. Fed’s interest rate decision on Wednesday, some expect the event to have a limited impact on the crypto market. Story continues “While markets may become volatile during and after the meeting, any sustained directional effect is doubtful. In the current environment, making trading decisions based on macroeconomic data is less helpful due to Bitcoin’s reduced correlation with traditional assets,” wrote blockchain research firm K33 Research on Tuesday. K33 also highlighted a slide in Bitcoin trading activities on the world’s leading crypto exchange Binance. Binance’s seven-day average Bitcoin spot volume had plunged 57% since the start of September, along with the crypto exchange’s intensifying regulatory challenges in the U.S. Ether edged up 0.42% to US$1,643.57 and added 2.96% for the week. The second top cryptocurrency reached a 20-day high of US$1,659.53 on early Wednesday morning. All other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours. Toncoin continued leading the winners, which jumped 7.24% to US$2.58. The native token of the TON Network has surged 41.07% for the week. The total crypto market capitalization gained 1.32% in the past 24 hours to US$1.08 trillion, while trading volume dropped 12.12% to US$27.29 billion. Equities tread water ahead of Fed interest rate decision Image: Getty Images U.S. stock futures traded flat on Wednesday morning in Asia, with all three major U.S. index futures edging lower as of 09:30 a.m. in Hong Kong. Wall Street closed lower on Tuesday, with the Dow Jones Industrial Average leading the losers with a 0.31% drop. Main stock indexes in Asia were mixed on Wednesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and Japan’s Nikkei 225 logged losses, while South Korea’s Kospi went higher. All eyes are now on the Federal Reserve’s Wednesday decision on interest rates, which are now between 5.25% and 5.50% — the highest level since early 2001. It is all but certain that the Fed will keep interest rates unchanged in September, as the CME FedWatch Tool predicts a 99% chance of no interest rate hike on Wednesday. However, factors like the rising oil price could make the U.S. central bank take a more hawkish stance in its future monetary policies, as the benchmark Brent crude futures touched a 10-month high of US95.96 per barrel on Tuesday. “The risks for headline inflation to heat up over the next couple of months are rising and that should complicate what the Fed does,” Ed Moya, senior market analyst at the U.S.-based forex broker OANDA, told Bloomberg on Tuesday. “If core inflation shows it is struggling to continue to drop, the higher-for-longer rate regime will last a lot longer than the market is pricing in,” said Moya. The Fed will also release its Summary Economic Projections on Wednesday, including a dot plot that will provide further insights into the central bank’s projections for future economic growth, inflation and interest rates. “What’s being priced into the market is a pause (of interest rate hike) but increased risk that rates will stay higher for longer,” Michael Green, chief strategist at the U.S.-based investment advisor Simplify Asset Management, told Reuters on Wednesday. “If (the Fed) announced that they are removing rate cuts in 2024 by raising the dot plot, it would generally be seen as a very hawkish pause.” The CME FedWatch Tool also predicts a 70.4% chance for no interest rate hike in November 2023, down from 71.0% on Tuesday. Meanwhile in China, the country’s central bank kept its one-year and five-year loan prime rates unchanged on Wednesday, as policymakers digest the recent signs of economic stabilization and a weakening Chinese yuan. “Cuts would be welcome but unfortunately won’t be sufficient to stabilize market sentiment,” Wee Khoon Chong, senior APAC market strategist at BNY Mellon, told Bloomberg on Wednesday, who said monetary relaxations are possible in months ahead, but for now policymakers seem to be waiting for their recent measures to take effect. (Updates with equity section.)', 'Bitcoin rose on Wednesday morning in Asia to trade above US$27,200, after reaching over US$27,400 earlier in the day. Ether remained flat at around US$1,640. All other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours, with Toncoin spearheading the rally with an over 7% increase. The crypto market received a boost from Japan’s leading investment bank Nomura, which announced a Bitcoin-based fund for institutional investors on Tuesday. U.S. stock futures traded flat, after Wall Street closed lower on Tuesday ahead of the U.S. Federal Reserve’s interest rate decision.\nBitcoin rose 1.75% in the last 24 hours to US$27,214.15 as of 07:30 a.m. in Hong Kong and moved up 5.11% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency rallied early Wednesday morning to reach US$27,488.76 — the highest price since Aug. 31, but soon retreated.\nLaser Digital, a digital asset subsidiary of Japan’s Nomura Holdings,announcedon Tuesday the launch of its Bitcoin Adoption Fund, which aims to provide “a seamless way for institutional investors to access the digital asset class.”\nNomura, which held around US$500 billion in assets under management, is Japan’s largest investment bank. The recently launched Bitcoin-related fund is the first in a range of digital adoption investment solutions that Laser Digital Asset Management will bring to the market.\n“Technology is a key driver of global economic growth and is transforming a large part of the economy from analog to digital. Bitcoin is one of the enablers of this long-lasting transformational change and long-term exposure to Bitcoin offers a solution to investors to capture this macro trend,” Sebastien Guglietta, head of Laser Digital Asset Management, said in the announcement.\nMeanwhile, as the equity market awaits the U.S. Fed’s interest rate decision on Wednesday, some expect the event to have a limited impact on the crypto market.\n“While markets may become volatile during and after the meeting, any sustained directional effect is doubtful. In the current environment, making trading decisions based on macroeconomic data is less helpful due to Bitcoin’s reduced correlation with traditional assets,”wroteblockchain research firm K33 Research on Tuesday.\nK33 also highlighted a slide in Bitcoin trading activities on the world’s leading crypto exchange Binance. Binance’s seven-day average Bitcoin spot volume had plunged 57% since the start of September, along with the crypto exchange’s intensifyingregulatory challengesin the U.S.\nEther edged up 0.42% to US$1,643.57 and added 2.96% for the week. The second top cryptocurrency reached a 20-day high of US$1,659.53 on early Wednesday morning.\nAll other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours. Toncoin continued leading the winners, which jumped 7.24% to US$2.58. The native token of the TON Network has surged 41.07% for the week.\nThe total crypto market capitalization gained 1.32% in the past 24 hours to US$1.08 trillion, while trading volume dropped 12.12% to US$27.29 billion.\nU.S. stock futures traded flat on Wednesday morning in Asia, with all three major U.S. index futures edging lower as of 09:30 a.m. in Hong Kong. Wall Street closed lower on Tuesday, with the Dow Jones Industrial Average leading the losers with a 0.31% drop.\nMain stock indexes in Asia were mixed on Wednesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and Japan’s Nikkei 225 logged losses, while South Korea’s Kospi went higher.\nAll eyes are now on the Federal Reserve’s Wednesday decision on interest rates, which are now between 5.25% and 5.50% — the highest level since early 2001.\nIt is all but certain that the Fed will keep interest rates unchanged in September, as theCME FedWatch Toolpredicts a 99% chance of no interest rate hike on Wednesday.\nHowever, factors like the rising oil price could make the U.S. central bank take a more hawkish stance in its future monetary policies, as the benchmark Brent crude futures touched a 10-month high of US95.96 per barrel on Tuesday.\n“The risks for headline inflation to heat up over the next couple of months are rising and that should complicate what the Fed does,” Ed Moya, senior market analyst at the U.S.-based forex broker OANDA, toldBloombergon Tuesday.\n“If core inflation shows it is struggling to continue to drop, the higher-for-longer rate regime will last a lot longer than the market is pricing in,” said Moya.\nThe Fed will also release its Summary Economic Projections on Wednesday, including a dot plot that will provide further insights into the central bank’s projections for future economic growth, inflation and interest rates.\n“What’s being priced into the market is a pause (of interest rate hike) but increased risk that rates will stay higher for longer,” Michael Green, chief strategist at the U.S.-based investment advisor Simplify Asset Management, toldReuterson Wednesday. “If (the Fed) announced that they are removing rate cuts in 2024 by raising the dot plot, it would generally be seen as a very hawkish pause.”\nThe CME FedWatch Tool also predicts a 70.4% chance for no interest rate hike in November 2023, down from 71.0% on Tuesday.\nMeanwhile in China, the country’s central bankkeptits one-year and five-year loan prime rates unchanged on Wednesday, as policymakers digest the recent signs of economic stabilization and a weakening Chinese yuan.\n“Cuts would be welcome but unfortunately won’t be sufficient to stabilize market sentiment,” Wee Khoon Chong, senior APAC market strategist at BNY Mellon, toldBloombergon Wednesday, who said monetary relaxations are possible in months ahead, but for now policymakers seem to be waiting for their recent measures to take effect.\n(Updates with equity section.)', 'Bitcoin rose on Wednesday morning in Asia to trade above US$27,200, after reaching over US$27,400 earlier in the day. Ether remained flat at around US$1,640. All other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours, with Toncoin spearheading the rally with an over 7% increase. The crypto market received a boost from Japan’s leading investment bank Nomura, which announced a Bitcoin-based fund for institutional investors on Tuesday. U.S. stock futures traded flat, after Wall Street closed lower on Tuesday ahead of the U.S. Federal Reserve’s interest rate decision.\nBitcoin rose 1.75% in the last 24 hours to US$27,214.15 as of 07:30 a.m. in Hong Kong and moved up 5.11% for the week, according toCoinMarketCapdata. The world’s largest cryptocurrency rallied early Wednesday morning to reach US$27,488.76 — the highest price since Aug. 31, but soon retreated.\nLaser Digital, a digital asset subsidiary of Japan’s Nomura Holdings,announcedon Tuesday the launch of its Bitcoin Adoption Fund, which aims to provide “a seamless way for institutional investors to access the digital asset class.”\nNomura, which held around US$500 billion in assets under management, is Japan’s largest investment bank. The recently launched Bitcoin-related fund is the first in a range of digital adoption investment solutions that Laser Digital Asset Management will bring to the market.\n“Technology is a key driver of global economic growth and is transforming a large part of the economy from analog to digital. Bitcoin is one of the enablers of this long-lasting transformational change and long-term exposure to Bitcoin offers a solution to investors to capture this macro trend,” Sebastien Guglietta, head of Laser Digital Asset Management, said in the announcement.\nMeanwhile, as the equity market awaits the U.S. Fed’s interest rate decision on Wednesday, some expect the event to have a limited impact on the crypto market.\n“While markets may become volatile during and after the meeting, any sustained directional effect is doubtful. In the current environment, making trading decisions based on macroeconomic data is less helpful due to Bitcoin’s reduced correlation with traditional assets,”wroteblockchain research firm K33 Research on Tuesday.\nK33 also highlighted a slide in Bitcoin trading activities on the world’s leading crypto exchange Binance. Binance’s seven-day average Bitcoin spot volume had plunged 57% since the start of September, along with the crypto exchange’s intensifyingregulatory challengesin the U.S.\nEther edged up 0.42% to US$1,643.57 and added 2.96% for the week. The second top cryptocurrency reached a 20-day high of US$1,659.53 on early Wednesday morning.\nAll other top 10 non-stablecoin cryptocurrencies logged gains in the past 24 hours. Toncoin continued leading the winners, which jumped 7.24% to US$2.58. The native token of the TON Network has surged 41.07% for the week.\nThe total crypto market capitalization gained 1.32% in the past 24 hours to US$1.08 trillion, while trading volume dropped 12.12% to US$27.29 billion.\nU.S. stock futures traded flat on Wednesday morning in Asia, with all three major U.S. index futures edging lower as of 09:30 a.m. in Hong Kong. Wall Street closed lower on Tuesday, with the Dow Jones Industrial Average leading the losers with a 0.31% drop.\nMain stock indexes in Asia were mixed on Wednesday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng and Japan’s Nikkei 225 logged losses, while South Korea’s Kospi went higher.\nAll eyes are now on the Federal Reserve’s Wednesday decision on interest rates, which are now between 5.25% and 5.50% — the highest level since early 2001.\nIt is all but certain that the Fed will keep interest rates unchanged in September, as theCME FedWatch Toolpredicts a 99% chance of no interest rate hike on Wednesday.\nHowever, factors like the rising oil price could make the U.S. central bank take a more hawkish stance in its future monetary policies, as the benchmark Brent crude futures touched a 10-month high of US95.96 per barrel on Tuesday.\n“The risks for headline inflation to heat up over the next couple of months are rising and that should complicate what the Fed does,” Ed Moya, senior market analyst at the U.S.-based forex broker OANDA, toldBloombergon Tuesday.\n“If core inflation shows it is struggling to continue to drop, the higher-for-longer rate regime will last a lot longer than the market is pricing in,” said Moya.\nThe Fed will also release its Summary Economic Projections on Wednesday, including a dot plot that will provide further insights into the central bank’s projections for future economic growth, inflation and interest rates.\n“What’s being priced into the market is a pause (of interest rate hike) but increased risk that rates will stay higher for longer,” Michael Green, chief strategist at the U.S.-based investment advisor Simplify Asset Management, toldReuterson Wednesday. “If (the Fed) announced that they are removing rate cuts in 2024 by raising the dot plot, it would generally be seen as a very hawkish pause.”\nThe CME FedWatch Tool also predicts a 70.4% chance for no interest rate hike in November 2023, down from 71.0% on Tuesday.\nMeanwhile in China, the country’s central bankkeptits one-year and five-year loan prime rates unchanged on Wednesday, as policymakers digest the recent signs of economic stabilization and a weakening Chinese yuan.\n“Cuts would be welcome but unfortunately won’t be sufficient to stabilize market sentiment,” Wee Khoon Chong, senior APAC market strategist at BNY Mellon, toldBloombergon Wednesday, who said monetary relaxations are possible in months ahead, but for now policymakers seem to be waiting for their recent measures to take effect.\n(Updates with equity section.)', 'California is on the brink of implementing a new regulatory framework for cryptocurrency, as the state legislature recently approved a bill that would impose a licensing system and other regulations on cryptocurrency firms. The proposed legislation is currently awaiting approval or veto from Governor Gavin Newsom, who has until October 14, 2023, to make a decision.\nThis move comes on the heels of the New York Department of Financial Services proposing new standards for how trading platforms list or delist tokens. These developments highlight the increasing role states are playing in shaping cryptocurrency regulation in light of absent federal guidelines.\nThe proposed California bill has raised concerns among some cryptocurrency firms over potential cost increases and product bans. Specifically, the bill requires full reserves for "stablecoins," tokens typically tied to the dollar. This requirement could potentially ban algorithmic stablecoins, which strive to maintain a one-to-one value with the dollar through alternative methods. Furthermore, the bill would require cryptocurrency companies to secure licenses from California\'s consumer financial protection regulator, mirroring regulations already in place in New York.\nEight years ago, New York introduced its own cryptocurrency licensing system, prompting some firms to refrain from doing business in the state. If California implements similar measures, avoiding compliance could become more challenging due to the significant market size of both states.\nDespite the House Financial Services Committee making progress on crypto-related bills this summer, it seems unlikely that Congress will enact any substantial legislation soon. The lack of Democratic support makes progress in the Senate doubtful. Senate Banking Committee Chairman Sherrod Brown has urged regulators to use existing tools to target misconduct.\nWhile consumer groups have lauded the proposed California legislation, it has met opposition from some cryptocurrency firms. The Crypto Council for Innovation, which includes members such as NASDAQ:COIN and venture-capital firm Andreessen Horowitz, has objected to the bill unless it undergoes amendments. Their concerns primarily center around stablecoin requirements and the absence of licensing exemptions for small firms and those already registered with the Commodity Futures Trading Commission.\nThis is not California\'s first attempt to regulate cryptocurrencies. Last year, a similar bill was vetoed by Governor Newsom, who deemed it "premature" given ongoing federal efforts. However, Matthew Wholey, a crypto policy analyst at PolicyPartner, believes that states will step in to fill the regulatory void as there is more clarity around federal crypto policy. He predicts that Newsom is likely to sign the bill into law this time.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nCalifornia moves closer to implementing crypto regulation, awaits governor\'s approval\nCriminals more reliant on cross-chain bridges than ever after mixer crackdowns\nBitcoin futures open interest jumps by $1B: Manipulation or hedge?', 'California is on the brink of implementing a new regulatory framework for cryptocurrency, as the state legislature recently approved a bill that would impose a licensing system and other regulations on cryptocurrency firms. The proposed legislation is currently awaiting approval or veto from Governor Gavin Newsom, who has until October 14, 2023, to make a decision. This move comes on the heels of the New York Department of Financial Services proposing new standards for how trading platforms list or delist tokens. These developments highlight the increasing role states are playing in shaping cryptocurrency regulation in light of absent federal guidelines. The proposed California bill has raised concerns among some cryptocurrency firms over potential cost increases and product bans. Specifically, the bill requires full reserves for "stablecoins," tokens typically tied to the dollar. This requirement could potentially ban algorithmic stablecoins, which strive to maintain a one-to-one value with the dollar through alternative methods. Furthermore, the bill would require cryptocurrency companies to secure licenses from California\'s consumer financial protection regulator, mirroring regulations already in place in New York. Eight years ago, New York introduced its own cryptocurrency licensing system, prompting some firms to refrain from doing business in the state. If California implements similar measures, avoiding compliance could become more challenging due to the significant market size of both states. Despite the House Financial Services Committee making progress on crypto-related bills this summer, it seems unlikely that Congress will enact any substantial legislation soon. The lack of Democratic support makes progress in the Senate doubtful. Senate Banking Committee Chairman Sherrod Brown has urged regulators to use existing tools to target misconduct. While consumer groups have lauded the proposed California legislation, it has met opposition from some cryptocurrency firms. The Crypto Council for Innovation, which includes members such as NASDAQ:COIN and venture-capital firm Andreessen Horowitz, has objected to the bill unless it undergoes amendments. Their concerns primarily center around stablecoin requirements and the absence of licensing exemptions for small firms and those already registered with the Commodity Futures Trading Commission. Story continues This is not California\'s first attempt to regulate cryptocurrencies. Last year, a similar bill was vetoed by Governor Newsom, who deemed it "premature" given ongoing federal efforts. However, Matthew Wholey, a crypto policy analyst at PolicyPartner, believes that states will step in to fill the regulatory void as there is more clarity around federal crypto policy. He predicts that Newsom is likely to sign the bill into law this time. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles California moves closer to implementing crypto regulation, awaits governor\'s approval Criminals more reliant on cross-chain bridges than ever after mixer crackdowns Bitcoin futures open interest jumps by $1B: Manipulation or hedge?', 'Zynga just put the bear market in a headlock while showing the gaming industry possibly the best way to launch an NFT collection in these brutal conditions.\nIf you’re not familiar with Sugartown Oras, this was Zynga’s first-ever NFT mint for their upcoming Web3 game. The major game studio of course turned heads with their entrance into NFTs, but what really blew the community away was that their NFTs were completely free. Collectors didn’t need to worry about selling their last remaining prized NFT to afford this drop, which cannibalized other collections’ floors. Technically, that’s how many collectors will have to get in because Sugartown is sitting at a 0.32 ETH (US$528) floor price, at the time of writing. Collectors who didn’t get a whitelist for the free mint will need to pony up to hitch their wagon on this horse.\nThe Zynga mint highlights the struggle of projects when it comes to pricing their primary sale. Trying to find the perfect price that collectors are willing to buy in while maximizing the amount of funds they can raise is like walking on a tightrope, but it seems no matter what price they settle on, collectors want little to do with it. Remember Wreck League failed to mint out their NFTs priced at 0.19 ETH, and more recently Nakamigos were FUDed to oblivion with their announcement of a 0.05 ETH mint. Maybe there’s no price collectors are willing to mint at today, so making them free is key.\nThe real question about Zynga’s mint is what makes them so special that collectors are chasing them at this price on secondary, with 4,000 NFTs from the collection still remaining to be minted. Mystery, untold potential, and the opportunity for endless speculation are the secret ingredients of NFT prices. Always were, and maybe always will be.\nZynga is teasing that Sugartown isn’t just an NFT for one game, but instead the key to their broader NFT gaming ecosystem. Without a clear roadmap, there’s plenty to speculate on, so collectors can let their imaginations run wild with what the NFTs will do, and are driving up the prices on secondary. I’ve been telling my pals this secret for years, but this year it has become part of the collective understanding, that as soon as collectors learn what your product is, speculation ends and prices tumble.\nAre other game studios paying attention? I certainly hope so since we have some huge NFT games coming from more major devs. Konamiannouncedlast week a new NFT game called Project Ziron, and Krafton, the devs behind PUBG, alsoannounceda new game called Overdare. I hope both were taking notes on Zynga’s entrance into NFTs.\nFree NFTs in this market will win over both hardcore NFT degens but also opens the door for the NFT and crypto-curious in traditional gaming. Let’s hope these two embrace a more sustainable way to offer NFTs, and help drive the space forward at this critical time for NFT gaming.\nOnly in NFTs could you call the changes in numbers this week stable, yet here we are. In a space that used to show us wild double or triple-digit swings on a daily basis, last week felt rather even. I’m watching for long periods of stabilizing numbers to tell us we’re nearing a floor, or at least more realistic trading action.\nGlobal sales, buyers, sellers, and total transactions still are on par with May or June 2021, and it will take a significant fall from here to reach the next level. I’m talking about Feb 2021 when we saw around US$36 million to US$54 million in weekly sales.\n• DMarket,DraftKings,Gods Unchained, andSorare(The Four) just dominating the top 5 collections this week. You know the story: huge supply, low cost, high volume collections with mass appeal (gaming skins, fantasy sports, and gaming assets). This is the winning formula for NFTs.\n• TheCryptoPunkssaw some big sales this week including a Zombie Punk#3609which sold for US$682,000 this week.\n• TheNounsfork is complete and over 50% of holdersdecidedto leave the old collection and move on to the new iteration of the Nouns. Along the way they took their share of the treasury, totaling over US$27 million.\n• Sugartown Orasfree mint from Zynga had a red-hot secondary market, and we saw the floor price rocket up to over 0.42 ETH.\n• $SATSBRC-20 collection helped Bitcoin reach as high as the number two spot on the collection rankings this week, with huge sales on bundles of the hot BRC-20s.\n• Ethereumsales were up ever so slightly this week, mostly driven by large BAYC, CryptoPunks, and plenty of Nouns sales.\n• Mythos Chain’svolume is yet again 99% composed of DMarket sales. People just love those CS:GO gaming skins.\n• Polygonaction is still largely driven by DraftKings, with 67% of its total sales coming from the sports collectibles.\n• Solana’ssales volume is down 13.01% but the value of their NFTs has actually increased, reflected by the Solana NFT Composite’s+0.30%gain in the past seven days.', 'Zynga just put the bear market in a headlock while showing the gaming industry possibly the best way to launch an NFT collection in these brutal conditions. If you’re not familiar with Sugartown Oras, this was Zynga’s first-ever NFT mint for their upcoming Web3 game. The major game studio of course turned heads with their entrance into NFTs, but what really blew the community away was that their NFTs were completely free. Collectors didn’t need to worry about selling their last remaining prized NFT to afford this drop, which cannibalized other collections’ floors. Technically, that’s how many collectors will have to get in because Sugartown is sitting at a 0.32 ETH (US$528) floor price, at the time of writing. Collectors who didn’t get a whitelist for the free mint will need to pony up to hitch their wagon on this horse. The Zynga mint highlights the struggle of projects when it comes to pricing their primary sale. Trying to find the perfect price that collectors are willing to buy in while maximizing the amount of funds they can raise is like walking on a tightrope, but it seems no matter what price they settle on, collectors want little to do with it. Remember Wreck League failed to mint out their NFTs priced at 0.19 ETH, and more recently Nakamigos were FUDed to oblivion with their announcement of a 0.05 ETH mint. Maybe there’s no price collectors are willing to mint at today, so making them free is key. The real question about Zynga’s mint is what makes them so special that collectors are chasing them at this price on secondary, with 4,000 NFTs from the collection still remaining to be minted. Mystery, untold potential, and the opportunity for endless speculation are the secret ingredients of NFT prices. Always were, and maybe always will be. Zynga is teasing that Sugartown isn’t just an NFT for one game, but instead the key to their broader NFT gaming ecosystem. Without a clear roadmap, there’s plenty to speculate on, so collectors can let their imaginations run wild with what the NFTs will do, and are driving up the prices on secondary. I’ve been telling my pals this secret for years, but this year it has become part of the collective understanding, that as soon as collectors learn what your product is, speculation ends and prices tumble. Are other game studios paying attention? I certainly hope so since we have some huge NFT games coming from more major devs. Konami announced last week a new NFT game called Project Ziron, and Krafton, the devs behind PUBG, also announced a new game called Overdare. I hope both were taking notes on Zynga’s entrance into NFTs. Story continues Free NFTs in this market will win over both hardcore NFT degens but also opens the door for the NFT and crypto-curious in traditional gaming. Let’s hope these two embrace a more sustainable way to offer NFTs, and help drive the space forward at this critical time for NFT gaming. Peep the charts NFT global stats table Only in NFTs could you call the changes in numbers this week stable, yet here we are. In a space that used to show us wild double or triple-digit swings on a daily basis, last week felt rather even. I’m watching for long periods of stabilizing numbers to tell us we’re nearing a floor, or at least more realistic trading action. Global sales, buyers, sellers, and total transactions still are on par with May or June 2021, and it will take a significant fall from here to reach the next level. I’m talking about Feb 2021 when we saw around US$36 million to US$54 million in weekly sales. NFT collection by sales volume DMarket , DraftKings , Gods Unchained , and Sorare (The Four) just dominating the top 5 collections this week. You know the story: huge supply, low cost, high volume collections with mass appeal (gaming skins, fantasy sports, and gaming assets). This is the winning formula for NFTs. The CryptoPunks saw some big sales this week including a Zombie Punk #3609 which sold for US$682,000 this week. The Nouns fork is complete and over 50% of holders decided to leave the old collection and move on to the new iteration of the Nouns. Along the way they took their share of the treasury, totaling over US$27 million. Sugartown Oras free mint from Zynga had a red-hot secondary market, and we saw the floor price rocket up to over 0.42 ETH. $SATS BRC-20 collection helped Bitcoin reach as high as the number two spot on the collection rankings this week, with huge sales on bundles of the hot BRC-20s. Blockchains by NFT sales volume Ethereum sales were up ever so slightly this week, mostly driven by large BAYC, CryptoPunks, and plenty of Nouns sales. Mythos Chain’s volume is yet again 99% composed of DMarket sales. People just love those CS:GO gaming skins. Polygon action is still largely driven by DraftKings, with 67% of its total sales coming from the sports collectibles. Solana’s sales volume is down 13.01% but the value of their NFTs has actually increased, reflected by the Solana NFT Composite’s +0.30% gain in the past seven days. View comments', '• US stocks dipped Tuesday as investors braced for the Fed\'s next interest rate move.\n• Investors are pricing in a near-100% chance rates will be kept level on Wednesday.\n• All three benchmark indexes ended the day lower, with the Dow losing over 100 points.\nStocks slumped Tuesday ahead of the Federal Reserve\'s next interest rate move. All three benchmark indexes ended the day in the red, with the Dow losing over 100 points as central bankers deliberated over their next policy decision.\nMarkets are pricing in a99% chance central bankers will choose to keep interest rates levelon Wednesday. But some traders are still expecting one more interest rate hike before the end of the year, with markets pricing in a 40% chance that rates will end 2023 higher than their current level.\xa0Fed Chair Jerome Powell has previously warned thatrates could stay higher for longerthan markets are anticipating.\n"We see little in the latest numbers to alter our view that the Fed will be unwilling to declare \'mission accomplished\' in its fight against inflation until the labor market softens and wage pressures move to a range of 3.5 percent or lower for a sustained period," Brent Schutte, the chief investment officer of Northwestern Mutual Wealth Management, said in a note on Monday.\n"Unfortunately, leaving rates at the current restrictive level is likely to lead to a shallow and short-lived recession, in our view," he later added, though he noted that the Fed had plenty of room to ease monetary policy should a recession start.\nMeanwhile, oil prices stuck around near 10-month highs as traders assessed the outlook for tight crude supply. Brent crude, the international benchmark, traded around $94 a barrel on Tuesday, while West Texas Intermediate crude briefly traded around $93 a barrel, the highest oil prices have been since November of last year.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Tuesday:\n• S&P 500:4,444.04, down 0.21%\n• Dow Jones Industrial Average:34,518.26, down 0.31% (-106.04 points)\n• Nasdaq Composite:13,678.19, down 0.23%\nHere\'s what else happened today:\n• Key barometer of economic health is flashing more warning signs for China\'s economy.\n• US housing starts fell to the lowest level since 2020, a worrying sign for the economy.\n• Russia\'s energy trade is making a comeback as global crude prices soar.\n• Tech stocks could rally through the end of the year, as a "tidal wave"of AI spending will drive a new bull market, according to Wedbush\'s Dan Ives.\n• The stock market is currently a "really good deal"for investors trying to build wealth, Wharton professor Jeremy Siegel said.\n• What Jerome Powell says now matters more than what he actually does.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 0.19% to $91.65 a barrel.Brent crude, the international benchmark, inched higher 0.18% to $94.60 a barrel.\n• Goldedged lower to $1,952.80 per ounce.\n• The yield on the 10-year Treasury bond rose four basis points to 4.635%.\n• Bitcoinrose 1.49% to $27,140.\nRead the original article onBusiness Insider', 'Getty Images / Mario Tama US stocks dipped Tuesday as investors braced for the Fed\'s next interest rate move. Investors are pricing in a near-100% chance rates will be kept level on Wednesday. All three benchmark indexes ended the day lower, with the Dow losing over 100 points. Stocks slumped Tuesday ahead of the Federal Reserve\'s next interest rate move. All three benchmark indexes ended the day in the red, with the Dow losing over 100 points as central bankers deliberated over their next policy decision. Markets are pricing in a 99% chance central bankers will choose to keep interest rates level on Wednesday. But some traders are still expecting one more interest rate hike before the end of the year, with markets pricing in a 40% chance that rates will end 2023 higher than their current level.\xa0Fed Chair Jerome Powell has previously warned that rates could stay higher for longer than markets are anticipating. "We see little in the latest numbers to alter our view that the Fed will be unwilling to declare \'mission accomplished\' in its fight against inflation until the labor market softens and wage pressures move to a range of 3.5 percent or lower for a sustained period," Brent Schutte, the chief investment officer of Northwestern Mutual Wealth Management, said in a note on Monday. "Unfortunately, leaving rates at the current restrictive level is likely to lead to a shallow and short-lived recession, in our view," he later added, though he noted that the Fed had plenty of room to ease monetary policy should a recession start. Meanwhile, oil prices stuck around near 10-month highs as traders assessed the outlook for tight crude supply. Brent crude, the international benchmark, traded around $94 a barrel on Tuesday, while West Texas Intermediate crude briefly traded around $93 a barrel, the highest oil prices have been since November of last year. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Tuesday: S&P 500 : 4,444.04, down 0.21% Story continues Dow Jones Industrial Average : 34,518.26, down 0.31% (-106.04 points) Nasdaq Composite : 13,678.19, down 0.23% Here\'s what else happened today: Key barometer of economic health is flashing more warning signs for China\'s economy . US housing starts fell to the lowest level since 2020 , a worrying sign for the economy. Russia\'s energy trade is making a comeback as global crude prices soar . Tech stocks could rally through the end of the year , as a "tidal wave"of AI spending will drive a new bull market, according to Wedbush\'s Dan Ives. The stock market is currently a "really good deal" for investors trying to build wealth, Wharton professor Jeremy Siegel said. What Jerome Powell says now matters more than what he actually does . In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 0.19% to $91.65 a barrel. Brent crude , the international benchmark, inched higher 0.18% to $94.60 a barrel. Gold edged lower to $1,952.80 per ounce. The yield on the 10-year Treasury bond rose four basis points to 4.635%. Bitcoin rose 1.49% to $27,140. Read the original article on Business Insider', 'By Brigid Riley TOKYO, Sept 20 (Reuters) - The dollar remained firm against a basket of peers on Wednesday ahead of a much-anticipated rate decision by the Federal Reserve later in the day, while the yen continued to hang close to a 10-month low. The U.S. dollar index, which measures the greenback against a basket of rivals, stayed mostly flat at 105.17 as traders awaited the Fed\'s rate decision. Attention stayed fixed on the yen as U.S. and Japanese authorities heaped on fresh comments about the possibility of intervention. Markets expect the Fed will almost certainly keep rates on hold at 5.25% to 5.50%, putting the focus on the central bank\'s forward guidance. Futures markets are pricing in a 30% likelihood of a quarter-point increase in November or 40% chance it will be in December, according to CME FedWatch tool. "We expect the FOMC to retain its forecast of one extra 25 hike by year-end, though it will not follow through with it in our view," said Carol Kong, economist and currency strategist at the Commonwealth Bank of Australia. Dollar/yen could see some upside pressure after a hawkish FOMC meeting, she added. The yen last sat around 147.83 versus the greenback, off Tuesday\'s low of 147.92 though hovering near the 10-month trough against the dollar ahead of the FOMC announcement. Japan\'s top financial diplomat, Masato Kanda, reiterated warnings on Wednesday, saying Japanese authorities are always in close communication on currencies with U.S. and overseas policymakers while keeping a close watch on market moves with a "high sense of urgency". Asked whether Washington would show understanding over another yen-buying intervention by Japan, U.S. Treasury Secretary Janet Yellen said overnight it "depends on the details" of the situation. Speculation increased about a possible sooner-than-expected exit from the Bank of Japan\'s ultra-loose policy, but the central bank will most likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus will stay for the time being amid economic uncertainty. Story continues Elsewhere in Asia, the offshore yuan was largely unchanged after China met market expectations by keeping its benchmark lending rates unchanged on Wednesday, but later ticked down 0.1% to 7.3103 per dollar. The Australian dollar, a proxy for China growth, fell nearly 0.1% in the Asian afternoon, while the New Zealand dollar was flat, down from Tuesday\'s two-week high against the dollar. The euro stood at $1.0679, and sterling hung slightly lower at $1.2388. Market eyes will be on UK August CPI released on Wednesday, the last bit of inflation data before the Bank of England makes their rate decision on Thursday. In cryptocurrencies, bitcoin BTC=BTSP hovered around $27,137, off a three-week high hit on Tuesday. (Reporting by Brigid Riley; Editing by Gerry Doyle)', 'By Brigid Riley\nTOKYO, Sept 20 (Reuters) - The dollar remained firm against a basket of peers on Wednesday ahead of a much-anticipated rate decision by the Federal Reserve later in the day, while the yen continued to hang close to a 10-month low.\nThe U.S. dollar index, which measures the greenback against a basket of rivals, stayed mostly flat at 105.17 as traders awaited the Fed\'s rate decision.\nAttention stayed fixed on the yen as U.S. and Japanese authorities heaped on fresh comments about the possibility of intervention.\nMarkets expect the Fed will almost certainly keep rates on hold at 5.25% to 5.50%, putting the focus on the central bank\'s forward guidance.\nFutures markets are pricing in a 30% likelihood of a quarter-point increase in November or 40% chance it will be in December, according to CME FedWatch tool.\n"We expect the FOMC to retain its forecast of one extra 25 hike by year-end, though it will not follow through with it in our view," said Carol Kong, economist and currency strategist at the Commonwealth Bank of Australia.\nDollar/yen could see some upside pressure after a hawkish FOMC meeting, she added.\nThe yen last sat around 147.83 versus the greenback, off Tuesday\'s low of 147.92 though hovering near the 10-month trough against the dollar ahead of the FOMC announcement.\nJapan\'s top financial diplomat, Masato Kanda, reiterated warnings on Wednesday, saying Japanese authorities are always in close communication on currencies with U.S. and overseas policymakers while keeping a close watch on market moves with a "high sense of urgency".\nAsked whether Washington would show understanding over another yen-buying intervention by Japan, U.S. Treasury Secretary Janet Yellen said overnight it "depends on the details" of the situation.\nSpeculation increased about a possible sooner-than-expected exit from the Bank of Japan\'s ultra-loose policy, but the central bank will most likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus will stay for the time being amid economic uncertainty.\nElsewhere in Asia, the
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-20
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $530,045,392,425
- Hash Rate: 414558853.7494199
- Transaction Count: 551783.0
- Unique Addresses: 823616.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.47
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: • US stocks rose higher as traders waited for Powell's speech at Jackson Hole.
• Last year, stocks plunged after Powell warned markets of "more pain" ahead.
• Investors are largely pricing in at least one more rate hike from the Fed later this year.
US stocks rose Friday ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Symposium.
Major indexes ticked higher as investors waited for the Fed chief to deliver his remarks around 10:05 am, in which he's expected to give key guidance on the state of US economy and the potential path of monetary policy.
Markets have been eyeing the symposium to potentially have a large impact on stocks, particularly since central bankers won't be meeting to discuss their next policy move until late September. Powell's speech at the same event last year sent stocks plummeting as he reiterated the central bank's committement to fighting inflation through interest rate hikes.
At last year's event, stocks plunged after Powell warned markets of "more pain" ahead, as the Fed would continue to stay hawkish on inflation.
"Fed officials are highly attuned to the risk of declaring victory prematurely and would be loath to make the mistake — as the Fed did in the mid-1970s — of cutting rates, only to reverse course should inflation resurge," Riley Wealth chief market strategist Art Hogan said in a statement on Friday. "Powell is expected to highlight some of the progress made in combating inflation but stay on script with his most recent commentary about the need to remain vigilant."
Markets, meanwhile, still think the odds are strong that the Fed holds rates steady at 5.25%-5.50% through the rest of the year, according to theCME FedWatch tool.
Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:
• S&P 500:4,395.40, up 0.42%
• Dow Jones Industrial Average:34,271.13, up 0.5% (+171.71 points)
• Nasdaq Composite:13,532.17, up 0.48%
Here's what else is going on today:
• Top economist Steve Hanke saysstocks look expensive and a recession could be around the corner.
• The "mind-blowing" US debt bingeis threatening the stability of the financial system, Larry McDonald warns.
• Russian sanctions aren't working, Germany's foreign minister says.
• Another Trump presidency could spark an economic and constitutional crisis, according to billionaire investor George Soros.
• Former Treasury Secretary Larry Summers is facingbacklash for his inflation "chart crime."
In commodities, bonds, and crypto:
• Oil prices traded higher.West Texas Intermediatecrude oil climbed 1.5% to $80.26 a barrel.Brent, the international benchmark, rallied 1.46% to $84.60 a barrel.
• Goldslipped 0.3% to $1,941.80 per ounce.
• The yield on the 10-year Treasury rose one basis point to 4.253%.
• Bitcoindipped 0.86% to $26,134.67.
Read the original article onBusiness Insider...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["NEW YORK – GOP presidential hopeful Vivek Ramaswamy took the stage at Messari’s Mainnet crypto conference on Wednesday evening and announced plans to release a “comprehensive crypto policy framework” by Thanksgiving.\nIn a “fireside chat” with data company Messari CEO Ryan Selkis, Ramaswamy’s brief remarks – which touched on recent SEC rulings and crypto’s role as a disruptor for traditional finance – painted a generally rosy picture of blockchain technology and delivered a scathing indictment of “three-letter” regulatory agencies.\nSelkis said he’d seen the framework and concurred with the GOP candidate that it’s currently “75% there.”\nRamaswamy said he has “relatively strong views on what the future of governmental interface with crypto should be,” zeroing in on what he called an “unconstitutional fourth branch of government” – regulators.\n“That is the cancer at the heart of our federal government today,” said Ramaswamy. “Most of the political power is wielded by people who are never elected to their positions that sit in the back of three-letter government agency buildings in Washington DC in a three-letter regulatory alphabet soup.”\nFollowing an appearance from Anthony Scaramucci – the financier famous for his brief stint as Donald Trump’s communications director – Ramaswamy’s remarks speak to crypto’s growing prominence in the U.S. political landscape. As Selkis noted as he welcomed Ramaswamy to the stage, “If you told me a couple of years ago that we'd have a major presidential candidate talking at a crypto conference, I don't think anyone would have believed it.”\nBitcoin’s founding ethos verges on libertarian, but the industry has generally managed to avoid strict categorization on any specific side of the U.S. political spectrum. Ramaswamy’s open embrace of crypto, however, could portend a rightward shift for the industry.\nRamaswamy was a pharmaceutical entrepreneur before he mounted his 2024 presidential campaign – fashioning himself as a youthful, tech-forward heir to Donald Trump’s populist MAGA movement. Even further to the right than Trump on many issues, Ramaswamy’s debate performance in August was something of a break-out moment for the 38-year-old – with attacks from Trump administration figures like Mike Pence and Nikki Haley underscoring the controversial political candidate’s rapid emergence as a serious political contender.\nA CNN pollreleased Wednesdayplaced the political newcomer second to Donald Trump in the nomination race – ahead of Florida Governor Ron DeSantis, who was widely considered Trump’s main competition in the early days of campaigning.\nRamaswamy’s remarks on Wednesday weren’t the first time he’d spoken positively of crypto. Most recently, ina tweet lastmonth, Ramaswamy celebrated a court ruling against the SEC in itscase with Grayscale– a decision considered favorable to the blockchain industry.", "Grayscale Investments, a leading cryptocurrency investment firm, has officially decided to relinquish its rights to the Ethereum tokens that followed the significant event known as the Merge. The decision, announced on Sunday, was made due to a lack of liquidity and support from the custodian of its products for these post-Merge Proof-of-Work (PoW) Ethereum (CRYPTO:ETH) tokens, also known as ETHPoW.\nThe Merge, which took place on September 15, 2022, marked a complete transition for Ethereum from a Proof-of-Work (PoW) system to a Proof-of-Stake (PoS) system. This resulted in a split of the Ethereum blockchain into a primary PoS-based Ethereum and a secondary PoW-based Ethereum.\nFollowing this significant shift, Grayscale considered acquiring ETHPoW and potentially selling ETHW for its record date shareholders. However, after an additional six months of deliberation following the Merge, the firm decided against this course of action. The decision was influenced by uncertainties around the stance of digital asset custodians and trading platforms on supporting ETHW tokens.\nIn contrast to Grayscale's decision, some crypto investment firms like ETC Group attempted to launch specific EthereumPoW exchange-traded products (ETPs). However, due to a lack of suitable custody providers, ETC Group had to discontinue its PoW-centric ZETW ETP just six weeks after its launch.\nGrayscale's decision is expected to be discussed at the upcoming Benzinga's Future of Digital Assets conference on November 14. Industry shifts such as Grayscale's move away from ETHPoW tokens are likely to be key topics at this event.\nIn related news, just a day after announcing its decision on ETHPoW tokens, Grayscale expressed intentions to introduce a new Ether (ETH) futures exchange-traded fund. The firm approached the United States Securities and Exchange Commission on Monday, seeking approval to list and exchange shares of the Grayscale Ethereum Futures Trust (ETH) ETF under the guidelines of the New York Stock Exchange Arca Rule 8.200-E.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nGrayscale abandons post-Merge Ethereum PoW tokens due to liquidity and custodian concerns\nEthereum's price surpasses $2,000 following Shapella upgrades\nBitcoin analysis predicts ‘spicy’ BTC price into FOMC as $27K holds", "Grayscale Investments, a leading cryptocurrency investment firm, has officially decided to relinquish its rights to the Ethereum tokens that followed the significant event known as the Merge. The decision, announced on Sunday, was made due to a lack of liquidity and support from the custodian of its products for these post-Merge Proof-of-Work (PoW) Ethereum (CRYPTO:ETH) tokens, also known as ETHPoW. The Merge, which took place on September 15, 2022, marked a complete transition for Ethereum from a Proof-of-Work (PoW) system to a Proof-of-Stake (PoS) system. This resulted in a split of the Ethereum blockchain into a primary PoS-based Ethereum and a secondary PoW-based Ethereum. Following this significant shift, Grayscale considered acquiring ETHPoW and potentially selling ETHW for its record date shareholders. However, after an additional six months of deliberation following the Merge, the firm decided against this course of action. The decision was influenced by uncertainties around the stance of digital asset custodians and trading platforms on supporting ETHW tokens. In contrast to Grayscale's decision, some crypto investment firms like ETC Group attempted to launch specific EthereumPoW exchange-traded products (ETPs). However, due to a lack of suitable custody providers, ETC Group had to discontinue its PoW-centric ZETW ETP just six weeks after its launch. Grayscale's decision is expected to be discussed at the upcoming Benzinga's Future of Digital Assets conference on November 14. Industry shifts such as Grayscale's move away from ETHPoW tokens are likely to be key topics at this event. In related news, just a day after announcing its decision on ETHPoW tokens, Grayscale expressed intentions to introduce a new Ether (ETH) futures exchange-traded fund. The firm approached the United States Securities and Exchange Commission on Monday, seeking approval to list and exchange shares of the Grayscale Ethereum Futures Trust (ETH) ETF under the guidelines of the New York Stock Exchange Arca Rule 8.200-E. Story continues This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles Grayscale abandons post-Merge Ethereum PoW tokens due to liquidity and custodian concerns Ethereum's price surpasses $2,000 following Shapella upgrades Bitcoin analysis predicts ‘spicy’ BTC price into FOMC as $27K holds", 'The U.S. Federal Reserve kept interest rates unchanged as expected at its September meeting on Wednesday. Bitcoin briefly fell below US$26,900 in the early hours of the morning after Fed Chair Jerome Powell said more interest rate hikes may be needed to curb inflation. But the token is now trading above the US$27,000 support level. Ether also dropped but held above US$1,600. Most other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. Toncoin led the losers with a slide of over 6%. U.S. stock futures traded lower Thursday morning after a day of Wall Street losses Wednesday.\nBitcoin dipped 0.28% in the last 24 hours to US$27,137.70 as of 07:30 a.m. in Hong Kong. But the world’s largest crypto token still posted a weekly gain of 3.52%, according toCoinMarketCapdata.\nThe Fed announced a much-anticipated pause in its rate hiking cycle Wednesday. The rate will continue at 5.25% and 5.50%, its highest level in 22 years. The Fedraisedits projected interest rates for the end of 2023 to 5.6%, indicating another rate hike to come within the year. The agency also raised its projection for the end of 2024 to 5.1%, up from the 4.3%predictedin June.\n“With 99% of forecasts predicting no change at the FOMC meeting, it was clear that we would see a stabilization of interest rate policy moving forward. However, it came as a surprise that the report emphasized slower rate cuts moving forward than previously projected,” Michael Silberberg, Head of Investor Relations at the U.S.-based crypto hedge fund AltTab Capital, said in an emailed comment.\n“While it’s a relief that the Fed see us at the peak of rate hikes with their forecast of fewer rate cuts in 2024, it is hard for us to take today’s announcement with too much optimism,” added Silberberg.\nFollowing Powell’s announcement, Bitcoin fell more than 1.5% to US$26,864.08 on early Thursday morning in Asia. But it soon recovered to above US$27,000.\nOn the regulatory front, the U.S. Securities and Exchange Commission (SEC)saidit would expand its regulatory scrutiny over the crypto industry. The agency has already sued multiple crypto companies for alleged securities violations. Those companies include software firm Ripple Labs and the U.S. branches of the world’s largest cryptocurrency exchanges Coinbase Global Inc. and Binance Holdings Ltd.\n“We’re going to continue to bring those charges,” SEC head of crypto David Hirsch said Tuesday at a forum in Chicago, indicating that the regulator would look into the actions of intermediaries such as brokers, dealers and clearing agencies.\nDespite ongoing regulatory and rate hike concerns, Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said he sees some “breakout signals” for Bitcoin. That includes the token’s move above its 50-day average ofUS$27,103. The 50-day average is a trend model that signals when Bitcoin is experiencing a bullish trend (above) or a bearish trend (below).\nEther dropped 1.26% to US$1,622.84 but was still trading 0.97% higher for the week. Most other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. The exceptions were XRP and Solana’s SOL, which rose 1.52% and 1.33% respectively.\nToncoin, the native token of The Open Network (TON), led the losers. The coin dropped 6.54% to US$2.41, while holding a weekly gain of 27.20%. The token has surged almost 75% in the past 30 days.\nTON is a blockchain-based network originally developed by messaging giant Telegram. The Toncoin token received a boost last week from thelaunchof TON Space — a self-custodial digital wallet available to Telegram’s estimated 800 million users.\nThe total crypto market capitalization dipped 0.47% in the past 24 hours to US$1.07 trillion, while trading volume inched up 2.75% to US$28.05 billion.\nU.S. stock futures traded lower Thursday morning in Asia, with all three major U.S. indexes logging losses as of 09:50 a.m. in Hong Kong. Wall Street closed lower on Wednesday, the Nasdaq Composite leading the losers with a 1.53% slide.\nMost of the major Asian stock indexes were also down Thursday morning. Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all booked losses, while China’s Shanghai Composite posted a marginal gain. Kospi led the losers with a 1.22% drop.\nAlthough the Federal Reserve decided to keep interest rates unchanged in September, the U.S. central bank struck a hawkish tone\n“The process of getting inflation sustainably down to 2 percent has a long way to go,”saidFed chair Jerome Powell at a Wednesday news briefing.\n“We are prepared to raise rates further if appropriate, and we intend to hold policy at a restrictive level until we are confident that inflation is moving down sustainably toward our objective,” he added.\nLooking ahead,12 out of the 19Federal Open Market Committee participants favored another 25-basis-point rate hike by the end of 2023. Fed members also projected slower-than-expected rate cuts to come, with the median projection for the appropriate Federal funds rate in 2024 rising from 4.6% in June to 5.1%.\n“The new projections suggest that the Fed has a fairly strong degree of confidence in its outlook for a soft landing and, in turn, that there will be very minimal space for policy easing next year,” Seema Shah, chief global strategist at the U.S.-based asset manager Principal Asset Management,toldBloomberg on Thursday.\nMeanwhile, Gennadiy Goldberg, head of U.S. interest rate strategy at investment bank TD Securities in New York, questioned whether the Fed’s tight monetary policy can ride out changes in the economy.\n“The Fed is trying to send as hawkish a signal as it possibly can. It’s just a question of whether the markets will listen to them without taking them with a grain of salt,” Goldberg toldReuterson Thursday.\n“They’re talking about higher rates for longer, but it’s really the economy that matters. And if the economy starts to soften, I don’t think these dot plot projections will actually hold up,” said Goldberg.\nThe Fed will meet on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 71.6% chance of no interest rate hike in November, up from 70.1% on Tuesday. It also gives a 53.4% chance of another pause in December, down from 59.2% on Tuesday.\nInvestors are now waiting for the U.S. initial jobless claims data on Thursday and the S&P Global’s flash purchasing managers’ index (PMI) report on Friday as further insight into U.S. inflation.\n(Updates with equity section.)', 'The U.S. Federal Reserve kept interest rates unchanged as expected at its September meeting on Wednesday. Bitcoin briefly fell below US$26,900 in the early hours of the morning after Fed Chair Jerome Powell said more interest rate hikes may be needed to curb inflation. But the token is now trading above the US$27,000 support level. Ether also dropped but held above US$1,600. Most other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. Toncoin led the losers with a slide of over 6%. U.S. stock futures traded lower Thursday morning after a day of Wall Street losses Wednesday.\nBitcoin dipped 0.28% in the last 24 hours to US$27,137.70 as of 07:30 a.m. in Hong Kong. But the world’s largest crypto token still posted a weekly gain of 3.52%, according toCoinMarketCapdata.\nThe Fed announced a much-anticipated pause in its rate hiking cycle Wednesday. The rate will continue at 5.25% and 5.50%, its highest level in 22 years. The Fedraisedits projected interest rates for the end of 2023 to 5.6%, indicating another rate hike to come within the year. The agency also raised its projection for the end of 2024 to 5.1%, up from the 4.3%predictedin June.\n“With 99% of forecasts predicting no change at the FOMC meeting, it was clear that we would see a stabilization of interest rate policy moving forward. However, it came as a surprise that the report emphasized slower rate cuts moving forward than previously projected,” Michael Silberberg, Head of Investor Relations at the U.S.-based crypto hedge fund AltTab Capital, said in an emailed comment.\n“While it’s a relief that the Fed see us at the peak of rate hikes with their forecast of fewer rate cuts in 2024, it is hard for us to take today’s announcement with too much optimism,” added Silberberg.\nFollowing Powell’s announcement, Bitcoin fell more than 1.5% to US$26,864.08 on early Thursday morning in Asia. But it soon recovered to above US$27,000.\nOn the regulatory front, the U.S. Securities and Exchange Commission (SEC)saidit would expand its regulatory scrutiny over the crypto industry. The agency has already sued multiple crypto companies for alleged securities violations. Those companies include software firm Ripple Labs and the U.S. branches of the world’s largest cryptocurrency exchanges Coinbase Global Inc. and Binance Holdings Ltd.\n“We’re going to continue to bring those charges,” SEC head of crypto David Hirsch said Tuesday at a forum in Chicago, indicating that the regulator would look into the actions of intermediaries such as brokers, dealers and clearing agencies.\nDespite ongoing regulatory and rate hike concerns, Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said he sees some “breakout signals” for Bitcoin. That includes the token’s move above its 50-day average ofUS$27,103. The 50-day average is a trend model that signals when Bitcoin is experiencing a bullish trend (above) or a bearish trend (below).\nEther dropped 1.26% to US$1,622.84 but was still trading 0.97% higher for the week. Most other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. The exceptions were XRP and Solana’s SOL, which rose 1.52% and 1.33% respectively.\nToncoin, the native token of The Open Network (TON), led the losers. The coin dropped 6.54% to US$2.41, while holding a weekly gain of 27.20%. The token has surged almost 75% in the past 30 days.\nTON is a blockchain-based network originally developed by messaging giant Telegram. The Toncoin token received a boost last week from thelaunchof TON Space — a self-custodial digital wallet available to Telegram’s estimated 800 million users.\nThe total crypto market capitalization dipped 0.47% in the past 24 hours to US$1.07 trillion, while trading volume inched up 2.75% to US$28.05 billion.\nU.S. stock futures traded lower Thursday morning in Asia, with all three major U.S. indexes logging losses as of 09:50 a.m. in Hong Kong. Wall Street closed lower on Wednesday, the Nasdaq Composite leading the losers with a 1.53% slide.\nMost of the major Asian stock indexes were also down Thursday morning. Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all booked losses, while China’s Shanghai Composite posted a marginal gain. Kospi led the losers with a 1.22% drop.\nAlthough the Federal Reserve decided to keep interest rates unchanged in September, the U.S. central bank struck a hawkish tone\n“The process of getting inflation sustainably down to 2 percent has a long way to go,”saidFed chair Jerome Powell at a Wednesday news briefing.\n“We are prepared to raise rates further if appropriate, and we intend to hold policy at a restrictive level until we are confident that inflation is moving down sustainably toward our objective,” he added.\nLooking ahead,12 out of the 19Federal Open Market Committee participants favored another 25-basis-point rate hike by the end of 2023. Fed members also projected slower-than-expected rate cuts to come, with the median projection for the appropriate Federal funds rate in 2024 rising from 4.6% in June to 5.1%.\n“The new projections suggest that the Fed has a fairly strong degree of confidence in its outlook for a soft landing and, in turn, that there will be very minimal space for policy easing next year,” Seema Shah, chief global strategist at the U.S.-based asset manager Principal Asset Management,toldBloomberg on Thursday.\nMeanwhile, Gennadiy Goldberg, head of U.S. interest rate strategy at investment bank TD Securities in New York, questioned whether the Fed’s tight monetary policy can ride out changes in the economy.\n“The Fed is trying to send as hawkish a signal as it possibly can. It’s just a question of whether the markets will listen to them without taking them with a grain of salt,” Goldberg toldReuterson Thursday.\n“They’re talking about higher rates for longer, but it’s really the economy that matters. And if the economy starts to soften, I don’t think these dot plot projections will actually hold up,” said Goldberg.\nThe Fed will meet on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 71.6% chance of no interest rate hike in November, up from 70.1% on Tuesday. It also gives a 53.4% chance of another pause in December, down from 59.2% on Tuesday.\nInvestors are now waiting for the U.S. initial jobless claims data on Thursday and the S&P Global’s flash purchasing managers’ index (PMI) report on Friday as further insight into U.S. inflation.\n(Updates with equity section.)', 'The U.S. Federal Reserve kept interest rates unchanged as expected at its September meeting on Wednesday. Bitcoin briefly fell below US$26,900 in the early hours of the morning after Fed Chair Jerome Powell said more interest rate hikes may be needed to curb inflation. But the token is now trading above the US$27,000 support level. Ether also dropped but held above US$1,600. Most other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. Toncoin led the losers with a slide of over 6%. U.S. stock futures traded lower Thursday morning after a day of Wall Street losses Wednesday. Cryptos down amid rate hike worries Bitcoin dipped 0.28% in the last 24 hours to US$27,137.70 as of 07:30 a.m. in Hong Kong. But the world’s largest crypto token still posted a weekly gain of 3.52%, according to CoinMarketCap data. The Fed announced a much-anticipated pause in its rate hiking cycle Wednesday. The rate will continue at 5.25% and 5.50%, its highest level in 22 years. The Fed raised its projected interest rates for the end of 2023 to 5.6%, indicating another rate hike to come within the year. The agency also raised its projection for the end of 2024 to 5.1%, up from the 4.3% predicted in June. “With 99% of forecasts predicting no change at the FOMC meeting, it was clear that we would see a stabilization of interest rate policy moving forward. However, it came as a surprise that the report emphasized slower rate cuts moving forward than previously projected,” Michael Silberberg, Head of Investor Relations at the U.S.-based crypto hedge fund AltTab Capital, said in an emailed comment. “While it’s a relief that the Fed see us at the peak of rate hikes with their forecast of fewer rate cuts in 2024, it is hard for us to take today’s announcement with too much optimism,” added Silberberg. Following Powell’s announcement, Bitcoin fell more than 1.5% to US$26,864.08 on early Thursday morning in Asia. But it soon recovered to above US$27,000. On the regulatory front, the U.S. Securities and Exchange Commission (SEC) said it would expand its regulatory scrutiny over the crypto industry. The agency has already sued multiple crypto companies for alleged securities violations. Those companies include software firm Ripple Labs and the U.S. branches of the world’s largest cryptocurrency exchanges Coinbase Global Inc. and Binance Holdings Ltd. “We’re going to continue to bring those charges,” SEC head of crypto David Hirsch said Tuesday at a forum in Chicago, indicating that the regulator would look into the actions of intermediaries such as brokers, dealers and clearing agencies. Story continues Despite ongoing regulatory and rate hike concerns, Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said he sees some “breakout signals” for Bitcoin. That includes the token’s move above its 50-day average of US$27,103 . The 50-day average is a trend model that signals when Bitcoin is experiencing a bullish trend (above) or a bearish trend (below). Ether dropped 1.26% to US$1,622.84 but was still trading 0.97% higher for the week. Most other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. The exceptions were XRP and Solana’s SOL, which rose 1.52% and 1.33% respectively. Toncoin, the native token of The Open Network (TON), led the losers. The coin dropped 6.54% to US$2.41, while holding a weekly gain of 27.20%. The token has surged almost 75% in the past 30 days. TON is a blockchain-based network originally developed by messaging giant Telegram. The Toncoin token received a boost last week from the launch of TON Space — a self-custodial digital wallet available to Telegram’s estimated 800 million users. The total crypto market capitalization dipped 0.47% in the past 24 hours to US$1.07 trillion, while trading volume inched up 2.75% to US$28.05 billion. Wall Street down after Fed meeting U.S. Federal Reserve Chair Jerome Powell|Image: Getty Images U.S. stock futures traded lower Thursday morning in Asia, with all three major U.S. indexes logging losses as of 09:50 a.m. in Hong Kong. Wall Street closed lower on Wednesday, the Nasdaq Composite leading the losers with a 1.53% slide. Most of the major Asian stock indexes were also down Thursday morning. Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all booked losses, while China’s Shanghai Composite posted a marginal gain. Kospi led the losers with a 1.22% drop. Although the Federal Reserve decided to keep interest rates unchanged in September, the U.S. central bank struck a hawkish tone “The process of getting inflation sustainably down to 2 percent has a long way to go,” said Fed chair Jerome Powell at a Wednesday news briefing. “We are prepared to raise rates further if appropriate, and we intend to hold policy at a restrictive level until we are confident that inflation is moving down sustainably toward our objective,” he added. Looking ahead, 12 out of the 19 Federal Open Market Committee participants favored another 25-basis-point rate hike by the end of 2023. Fed members also projected slower-than-expected rate cuts to come, with the median projection for the appropriate Federal funds rate in 2024 rising from 4.6% in June to 5.1%. “The new projections suggest that the Fed has a fairly strong degree of confidence in its outlook for a soft landing and, in turn, that there will be very minimal space for policy easing next year,” Seema Shah, chief global strategist at the U.S.-based asset manager Principal Asset Management, told Bloomberg on Thursday. Meanwhile, Gennadiy Goldberg, head of U.S. interest rate strategy at investment bank TD Securities in New York, questioned whether the Fed’s tight monetary policy can ride out changes in the economy. “The Fed is trying to send as hawkish a signal as it possibly can. It’s just a question of whether the markets will listen to them without taking them with a grain of salt,” Goldberg told Reuters on Thursday. “They’re talking about higher rates for longer, but it’s really the economy that matters. And if the economy starts to soften, I don’t think these dot plot projections will actually hold up,” said Goldberg. The Fed will meet on Nov. 1 to make its next decision on interest rates. The CME FedWatch Tool predicts a 71.6% chance of no interest rate hike in November, up from 70.1% on Tuesday. It also gives a 53.4% chance of another pause in December, down from 59.2% on Tuesday. Investors are now waiting for the U.S. initial jobless claims data on Thursday and the S&P Global’s flash purchasing managers’ index (PMI) report on Friday as further insight into U.S. inflation. (Updates with equity section.) View comments', "In a bid to strengthen its financial integrity following a money laundering scandal, Singapore's banking sector has increased its oversight of clients of Chinese descent holding foreign citizenships. The scandal, which involved assets exceeding S$2.4 billion ($1.8 billion), significantly impacted the Asian financial hub last month.\nAs part of this intensified scrutiny, the focus has been particularly on clients who hold investment-linked passports from other countries. These individuals, primarily of Chinese origin, are undergoing extensive review for their new account openings and transactions, as per sources familiar with the matter.\nAn international bank, choosing to remain unnamed due to the sensitive nature of the information, has started closing accounts of clients holding citizenships from several countries, including Cambodia, Cyprus, Turkey, and Vanuatu. This move is seen as a proactive step towards averting potential financial misconduct in the future.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nSingapore banks tighten oversight on foreign clients post-money laundering scandal\nZurich housing market outpaces London and Paris amid corporate recruitment surge\nFed Holds Steady on Interest Rates, Bitcoin Price Shows Minor Change", "In a bid to strengthen its financial integrity following a money laundering scandal, Singapore's banking sector has increased its oversight of clients of Chinese descent holding foreign citizenships. The scandal, which involved assets exceeding S$2.4 billion ($1.8 billion), significantly impacted the Asian financial hub last month. As part of this intensified scrutiny, the focus has been particularly on clients who hold investment-linked passports from other countries. These individuals, primarily of Chinese origin, are undergoing extensive review for their new account openings and transactions, as per sources familiar with the matter. An international bank, choosing to remain unnamed due to the sensitive nature of the information, has started closing accounts of clients holding citizenships from several countries, including Cambodia, Cyprus, Turkey, and Vanuatu. This move is seen as a proactive step towards averting potential financial misconduct in the future. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles Singapore banks tighten oversight on foreign clients post-money laundering scandal Zurich housing market outpaces London and Paris amid corporate recruitment surge Fed Holds Steady on Interest Rates, Bitcoin Price Shows Minor Change", 'U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on June 14, 2023 in Washington, DC. After a streak of ten interest rate increases, Powell announced that rates will remain steady and unchanged Drew Angerer/Getty Images US stocks fell Wednesday as the Fed signaled that rates will be higher for longer. The central bank\'s so-called dot plot of rate forecasts indicated one more increase later this year. It also suggested there will be two rate cuts in 2024, down from an earlier projection of four cuts. US stocks faltered Wednesday after the Federal Reserve indicated that interest rates will remain higher for longer. In line with expectations, the central bank kept rates steady at 5.25%-5.5%. But projections in the Fed\'s so-called dot plot point to one more hike in 2023. In addition, they indicated two rate cuts next year, down from four in an earlier forecast. The 2-year Treasury yield climbed to the highest level since 2006, and the 10-year yield reversed an earlier decline to head back up slightly. Still, the dot plot represents forecasts and not actual plans. "Fed officials appear to be divided on whether higher policy rates are needed to bring inflation back down to their 2% target," Charlie Ripley of Allianz Investment Management wrote. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Wednesday: S&P 500 : 4,402.20, down 0.94% Dow Jones Industrial Average : 34,440.88, down 0.22% (76.85 points) Nasdaq Composite : 13,469.13, down 1.53% Here\'s what else happened today: "Don\'t worry, be happy" — here are five reasons Bank of America is bullish on stocks. Apple gave up plans to add a stock trading feature to the iPhone after last year\'s brutal market. Capital flight from China jumped to its highest pace since 2015, on economic worries. Global debt reached an all-time high of $307 trillion . In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 1.05% to $90.48 a barrel. Brent crude , the international benchmark, slid 1.02% to $93.41 a barrel. Gold inched up 0.43% to $1,943.12 per ounce. The yield on the 10-year Treasury bond ticked 0.8 basis point higher to 4.351%. Bitcoin essentially stayed flat at $27,154. Read the original article on Business Insider', '• US stocks fell Wednesday as the Fed signaled that rates will be higher for longer.\n• The central bank\'s so-called dot plot of rate forecasts indicated one more increase later this year.\n• It also suggested there will be two rate cuts in 2024, down from an earlier projection of four cuts.\nUS stocks faltered Wednesday after the Federal Reserve indicated that interest rates will remain higher for longer.\nIn line with expectations, the central bank kept rates steady at 5.25%-5.5%. But projections in the Fed\'s so-called dot plot point to one more hike in 2023. In addition, they indicated two rate cuts next year, down from four in an earlier forecast.\nThe 2-year Treasury yield climbed to the highest level since 2006, and the 10-year yield reversed an earlier decline to head back up slightly.\nStill, the dot plot represents forecasts and not actual plans.\n"Fed officials appear to be divided on whether higher policy rates are needed to bring inflation back down to their 2% target," Charlie Ripley of Allianz Investment Management wrote.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Wednesday:\n• S&P 500: 4,402.20, down 0.94%\n• Dow Jones Industrial Average: 34,440.88, down 0.22% (76.85 points)\n• Nasdaq Composite: 13,469.13, down 1.53%\nHere\'s what else happened today:\n• "Don\'t worry, be happy" — here arefive reasons Bank of Americais bullish on stocks.\n• Applegave up plans to add a stock trading featureto the iPhone after last year\'s brutal market.\n• Capital flight from Chinajumped to its highest pacesince 2015, on economic worries.\n• Global debt reached anall-time high of $307 trillion.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 1.05% to $90.48 a barrel.Brent crude, the international benchmark, slid 1.02% to $93.41 a barrel.\n• Goldinched up 0.43% to $1,943.12 per ounce.\n• The yield on the 10-year Treasury bond ticked 0.8 basis point higher to 4.351%.\n• Bitcoinessentially stayed flat at $27,154.\nRead the original article onBusiness Insider', "Bitcoin (BTC) has further solidified its position as the leading cryptocurrency, with its market dominance climbing to 50.2% as of Monday, September 18, 2023. This surge in dominance marks a significant uptick from its range of 39% to 49% over the previous two years. The rise in Bitcoin's market share is largely attributed to the filing of Bitcoin ETFs by several top investment firms for SEC approval in June 2023. The New York Department of Financial Services (NYFDS) proposed stricter rules for listing cryptocurrencies on exchanges earlier this week. However, Bitcoin and Ethereum (ETH), along with stablecoins issued by PayPal (NASDAQ:NASDAQ:PYPL) and Gemini, received a green light as digital assets that license holders can list or custody without facing additional regulatory hurdles. This regulatory leeway is expected to further benefit Bitcoin. In light of these developments, stocks directly linked to or exposed to Bitcoin have seen notable growth. Stronghold Digital Mining Inc., a crypto asset mining company that focuses on mining Bitcoin in the U.S., has an expected earnings growth rate of 97.7% for this year. Over the past 60 days, the consensus estimate for its current-year earnings has improved by 68.7%. Robinhood Markets Inc (NASDAQ:NASDAQ:HOOD) enables the buying and selling of Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies. Robinhood's expected earnings growth rate for the current year is 57.3%. BlackRock Inc (NYSE:NYSE:BLK), the world's largest asset manager, applied to launch a Bitcoin exchange-traded fund in June 2023. Although BlackRock's expected earnings growth rate for the current year is only 0.3%, it is expected to grow by 13.2% in 2024. Bitcoin's dominance stands as a crucial metric that garners close attention from experienced traders. This metric serves as a valuable tool, offering insights into the overall performance and potential direction of the cryptocurrency space. As Bitcoin's market dominance continues to increase, experts remain cautiously optimistic that Bitcoin could be on the verge of a substantial bull rally. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles Bitcoin's dominance rises with ETFs approvals and regulatory clarity Crypto payment firm Alchemy Pay wins money transmitter license in US Bitcoin's sustainable energy mix surpasses 50% amid reduced carbon footprint View comments", "Bitcoin (BTC) has further solidified its position as the leading cryptocurrency, with its market dominance climbing to 50.2% as of Monday, September 18, 2023. This surge in dominance marks a significant uptick from its range of 39% to 49% over the previous two years. The rise in Bitcoin's market share is largely attributed to the filing of Bitcoin ETFs by several top investment firms for SEC approval in June 2023.\nThe New York Department of Financial Services (NYFDS) proposed stricter rules for listing cryptocurrencies on exchanges earlier this week. However, Bitcoin and Ethereum (ETH), along with stablecoins issued by PayPal (NASDAQ:NASDAQ:PYPL) and Gemini, received a green light as digital assets that license holders can list or custody without facing additional regulatory hurdles. This regulatory leeway is expected to further benefit Bitcoin.\nIn light of these developments, stocks directly linked to or exposed to Bitcoin have seen notable growth. Stronghold Digital Mining Inc., a crypto asset mining company that focuses on mining Bitcoin in the U.S., has an expected earnings growth rate of 97.7% for this year. Over the past 60 days, the consensus estimate for its current-year earnings has improved by 68.7%.\nRobinhood Markets Inc (NASDAQ:NASDAQ:HOOD) enables the buying and selling of Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies. Robinhood's expected earnings growth rate for the current year is 57.3%.\nBlackRock Inc (NYSE:NYSE:BLK), the world's largest asset manager, applied to launch a Bitcoin exchange-traded fund in June 2023. Although BlackRock's expected earnings growth rate for the current year is only 0.3%, it is expected to grow by 13.2% in 2024.\nBitcoin's dominance stands as a crucial metric that garners close attention from experienced traders. This metric serves as a valuable tool, offering insights into the overall performance and potential direction of the cryptocurrency space. As Bitcoin's market dominance continues to increase, experts remain cautiously optimistic that Bitcoin could be on the verge of a substantial bull rally.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nBitcoin's dominance rises with ETFs approvals and regulatory clarity\nCrypto payment firm Alchemy Pay wins money transmitter license in US\nBitcoin's sustainable energy mix surpasses 50% amid reduced carbon footprint", "Bitcoin (BTC) has further solidified its position as the leading cryptocurrency, with its market dominance climbing to 50.2% as of Monday, September 18, 2023. This surge in dominance marks a significant uptick from its range of 39% to 49% over the previous two years. The rise in Bitcoin's market share is largely attributed to the filing of Bitcoin ETFs by several top investment firms for SEC approval in June 2023.\nThe New York Department of Financial Services (NYFDS) proposed stricter rules for listing cryptocurrencies on exchanges earlier this week. However, Bitcoin and Ethereum (ETH), along with stablecoins issued by PayPal (NASDAQ:NASDAQ:PYPL) and Gemini, received a green light as digital assets that license holders can list or custody without facing additional regulatory hurdles. This regulatory leeway is expected to further benefit Bitcoin.\nIn light of these developments, stocks directly linked to or exposed to Bitcoin have seen notable growth. Stronghold Digital Mining Inc., a crypto asset mining company that focuses on mining Bitcoin in the U.S., has an expected earnings growth rate of 97.7% for this year. Over the past 60 days, the consensus estimate for its current-year earnings has improved by 68.7%.\nRobinhood Markets Inc (NASDAQ:NASDAQ:HOOD) enables the buying and selling of Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies. Robinhood's expected earnings growth rate for the current year is 57.3%.\nBlackRock Inc (NYSE:NYSE:BLK), the world's largest asset manager, applied to launch a Bitcoin exchange-traded fund in June 2023. Although BlackRock's expected earnings growth rate for the current year is only 0.3%, it is expected to grow by 13.2% in 2024.\nBitcoin's dominance stands as a crucial metric that garners close attention from experienced traders. This metric serves as a valuable tool, offering insights into the overall performance and potential direction of the cryptocurrency space. As Bitcoin's market dominance continues to increase, experts remain cautiously optimistic that Bitcoin could be on the verge of a substantial bull rally.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nBitcoin's dominance rises with ETFs approvals and regulatory clarity\nCrypto payment firm Alchemy Pay wins money transmitter license in US\nBitcoin's sustainable energy mix surpasses 50% amid reduced carbon footprint", "Taiwanese suppliers for Apple Inc (NASDAQ:AAPL). are grappling with another month of significant sales decline, as the global electronics industry continues to face sluggish consumer demand. The latest data indicates a 12.3% drop in overall earnings for Taiwan's key manufacturers and assemblers in August, compared to the same period last year. This follows a 9% decrease in July, marking a continued downturn in the sales of personal electronic devices such as smartphones and laptops. The earnings of these principal Taiwanese suppliers amounted to NT$951.41 billion ($29.6 billion) in August, deepening the sales decline experienced in July. This trend reflects a consistent downturn in the sales of personal electronic devices that has been ongoing since last year. The cumulative drop for the year so far stands at 7.5%, indicating a challenging environment for the electronics sector. This decline is largely attributed to a decrease in consumer demand for products like smartphones and laptops, which form a significant part of the production portfolio for these Taiwanese suppliers. The sustained decrease in sales presents an ongoing challenge for Apple's supply chain, which relies heavily on Taiwanese manufacturers. The current trend underscores the broader issues facing the global electronics industry, as it navigates changing consumer behaviors and market dynamics. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles Apple's Taiwanese suppliers face another sales dip amid sluggish electronics demand Zurich housing market outpaces London and Paris amid corporate recruitment surge Fed Holds Steady on Interest Rates, Bitcoin Price Shows Minor Change View comments", "Taiwanese suppliers for Apple Inc (NASDAQ:AAPL). are grappling with another month of significant sales decline, as the global electronics industry continues to face sluggish consumer demand. The latest data indicates a 12.3% drop in overall earnings for Taiwan's key manufacturers and assemblers in August, compared to the same period last year. This follows a 9% decrease in July, marking a continued downturn in the sales of personal electronic devices such as smartphones and laptops.\nThe earnings of these principal Taiwanese suppliers amounted to NT$951.41 billion ($29.6 billion) in August, deepening the sales decline experienced in July. This trend reflects a consistent downturn in the sales of personal electronic devices that has been ongoing since last year.\nThe cumulative drop for the year so far stands at 7.5%, indicating a challenging environment for the electronics sector. This decline is largely attributed to a decrease in consumer demand for products like smartphones and laptops, which form a significant part of the production portfolio for these Taiwanese suppliers.\nThe sustained decrease in sales presents an ongoing challenge for Apple's supply chain, which relies heavily on Taiwanese manufacturers. The current trend underscores the broader issues facing the global electronics industry, as it navigates changing consumer behaviors and market dynamics.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nApple's Taiwanese suppliers face another sales dip amid sluggish electronics demand\nZurich housing market outpaces London and Paris amid corporate recruitment surge\nFed Holds Steady on Interest Rates, Bitcoin Price Shows Minor Change", 'IMX, the native token of non-fungible tokens platform ImmutableX, surged on Thursday, led by South Korean traders.\nThe cryptocurrency rose 35% to 74 cents during the Asian trading hours, CoinDesk data show. Major cryptocurrencies like bitcoin (BTC), ether (ETH), XRP and BNB traded 0.5% to 1% lower.\nThe price rally is accompanied by over 22% increase in the 24-hour global trading volume, which rose to $556 million. The IMX-Korean won (IMX/KRW) pair listed on South Korea\'s Upbit exchange accounted for nearly 20% of the global activity, followed by Binance\'s IMX-tether (IMX/USDT) pair, which contributed 7% to the total volume, per data sourceCoingecko.\nAccording to blockchain sleuth LookonChain, wallets tied to Upbit accumulated 12.53 million IMX ($9.27 million) as the cryptocurrency surged. The balance was then transferred to address0x2F77AEd5B7259ABD27077f9F99772aDDF913E62E, which now holds over 21 million IMX.\nThe price rise saw some market participants move their coins to exchanges, perhaps in a bid to liquidate holdings.\n"Investors unlocked 3.05MIMX($2.3M) from the Foundation Treasury Locked wallet after theIMXprice increased, possibly dumping to the market,"LookOnChain saidon X.\nThe number of active or open positions in perpetual futures tied to IMX, surged over 400% to a record high of 115.42 IMX ($80 million).\nAn increase in the so-called open interest alongside a rise in a price is said to represent an influx of new money in the market.', 'IMX, the native token of non-fungible tokens platform ImmutableX, surged on Thursday, led by South Korean traders. The cryptocurrency rose 35% to 74 cents during the Asian trading hours, CoinDesk data show. Major cryptocurrencies like bitcoin (BTC), ether (ETH), XRP and BNB traded 0.5% to 1% lower. The price rally is accompanied by over 22% increase in the 24-hour global trading volume, which rose to $556 million. The IMX-Korean won (IMX/KRW) pair listed on South Korea\'s Upbit exchange accounted for nearly 20% of the global activity, followed by Binance\'s IMX-tether (IMX/USDT) pair, which contributed 7% to the total volume, per data source Coingecko . According to blockchain sleuth LookonChain, wallets tied to Upbit accumulated 12.53 million IMX ($9.27 million) as the cryptocurrency surged. The balance was then transferred to address 0x2F77AEd5B7259ABD27077f9F99772aDDF913E62E , which now holds over 21 million IMX. The price rise saw some market participants move their coins to exchanges, perhaps in a bid to liquidate holdings. "Investors unlocked 3.05M IMX ($2.3M) from the Foundation Treasury Locked wallet after the IMX price increased, possibly dumping to the market," LookOnChain said on X. 3/ GSR deposited 2M $IMX ($1.52M) into #Binance after $IMX rose. https://t.co/RuPpdgwRiI And Fund: 0x74c...441 also deposited 851,322 $IMX ($647K) into #Binance after $IMX rose. https://t.co/CWV7yvg2kR pic.twitter.com/bHORrlkUd0 — Lookonchain (@lookonchain) September 21, 2023 Open interest hits record high The number of active or open positions in perpetual futures tied to IMX, surged over 400% to a record high of 115.42 IMX ($80 million). An increase in the so-called open interest alongside a rise in a price is said to represent an influx of new money in the market. Open interest has skyrocketed by more than 400% (Coinglass)', 'The Bitcoin network, with its continually increasing hash rate, has seen a corresponding decrease in its emissions intensity, according to recent reports from Bloomberg. Analyst Jamie Coutts explained that this trend is contrary to most other industries and could potentially trigger the next wave of institutional investment.\nData cited by Coutts on Monday revealed that the sustainable energy mix for Bitcoin has been steadily rising since 2021 and now exceeds 50%. This increase in sustainable energy use has resulted in a slower growth of emissions relative to the network\'s expansion. Coutts noted that the evolving relationship between Bitcoin network growth and the global push to transition from fossil fuels could "catalyze a wave of institutional and even sovereign investment capital."\nEnergy constitutes over 50% of mining\'s operational costs, providing an incentive to procure the cheapest energy sources. This has contributed to the network\'s rising hash rate while simultaneously reducing the industry\'s emissions or carbon intensity.\nOn Saturday, it was reported that the next generation of Bitcoin miners is focusing on alternative energy sources for efficiency. However, there has been ongo
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-21
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $518,292,944,750
- Hash Rate: 391843300.11931473
- Transaction Count: 431540.0
- Unique Addresses: 763149.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.47
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: The Week in DeFi: Holesky Testnet Launch, Balancer Security Vulnerability, and Solana Pay x Shopify The Ethereum Foundation revealed it will debut the Holesky testnet on September 15th, aiming to supplant Goerli. Meanwhile, Balancer contended with a security fright as a critical bug was found in certain pools this week. Finally, Solana Pay partnered with Shopify to integrate its services into the e-commerce platform. Eventful week for DeFi ! Let’s dive deeper into what went down in DeFi this past week. Overview: Sentiment Continues to Sink Total value locked (TVL) across all chains continues the downtrend, shedding another 2.5% as market sentiment prolongs its decline. Noteworthy exceptions to the trend are ConsenSys -backed L2 chain, Linea , which experienced a 40% swell in TVL, and Sui , which saw its TVL rise 20%. Source: DeFiLlama Welcome to Alpha Central 0xBreadguy dives into the tools built around social media applications, friend.tech , including tools to improve trading, charting , and analysis on the platform. Wajahat Mughal covers 15 primitives he believes will push upcoming narratives in crypto, providing examples in each category. Redphonecrypto muses on DeFi and how it powers applications only feasible with crypto as the backend infrastructure. Ethereum: Holesky Testnet Incoming, EigenLayer Hits Caps Again The Ethereum Foundation will deploy a new testnet, Holesky, to replace Goerli. Holesky will launch on September 15, with two billion Holesky ETH (hETH) available at genesis to address insufficient funds on testnets. ETH restaking solution EigenLayer raises caps again on staking , this time to 100K tokens. The caps filled in under two hours before deposits were paused. Alongside the cap raise, EigenLayer announced an NFT mint, EigenWorlds, available to EigenLayer stakers. ETH restaking platform Stader Labs deploys rsETH on their testnet. RsETH represents restaked ETH, obtained by staking LSTs on Stader, allowing users to earn rewards on LSTs. Weighted AMM Balancer uncovers a critical vulnerability in boosted pools across supported chains. Though Balancer mitigated most risk, the protocol still suffered a $400K loss . Cross-chain settlement layer THORChain launches THORChain Lending, enabling USD loans on native ETH or BTC . The no-interest, no- liquidation loans have a 30-day minimum duration. Bumper Finance will launch on Ethereum mainnet on August 31, with $250K in incentives for early adopters. Bumper seeks to shield crypto investors from volatility using an innovative DeFi mechanism. Memecoin PEPE dumps as several ex-members allegedly steal and sell $15 million in PEPE tokens. The team claims to have regained control of the multisig wallet holding the tokens, but many are doubting this claim. Story continues L2s: FRIEND Perpetuals Live for Trading Options and perpetual trading platform Aevo launches perpetuals trading on FRIEND, representing the market capitalization of all friend.tech accounts, enabling traders to long or short their value. Positional markets Thales launches Speed Markets on Arbitrum . Speed Markets allow bets on an asset's direction over short timeframes, where users bet on the asset trading above or below the current price by the timeframe's end. BitDAO’s L2 chain Mantle has staked 40,000 ETH tokens from its treasury with Lido Finance after a successful governance vote earlier this month. Bracket Labs launches Passage, allowing traders to speculate on an asset price. It enables trading volatility and leveraged trading. Solana: Solana Pay Now on Shopify Solana Pay is now supported on the e-commerce platform Shopify, enabling merchants to accept USDC payments via Solana's blockchain. Solana Pay plans to add more tokens including native SOL and memecoin BONK . Elusiv goes live on Solana this week, bringing privacy to token swaps . It keeps trades private, allowing traders to conceal on-chain activity. Elusiv is powered by DEX aggregator Jupiter. Credit protocol Maple Finance launches Solana support, enabling Solana projects and DAOs to utilize their cash management solution. L3 blockchain Nautilus launches on mainnet after a year of development. Nautilus is built on Solana's VM using Neon EVM and Celestia. Currently an optimistic rollup , it seeks to transition to a ZK rollup. Cosmos: Dymension’s Incentivized Testnet Is Live Dymension releases its incentivized testnet, Froopyland with a maturity date of three months and 1% of the total supply distributed as rewards. Dymension is a chain designed to enable rollup deployment compatible with Cosmos' Inter-Blockchain Communication (IBC) Protocol. Another Week, Another Airdrop Base Velodrome fork Aerodrome will launch on Monday, accompanied by an airdrop of veAERO tokens to veVELO lockers on Velodrome. 40% of the veAERO supply will be distributed in this airdrop. Crypto betting platform, Shuffle, announces their token and hints at their upcoming airdrop in the near future. Stay updated on your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects, degens! View comments...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin dropped Friday morning in Asia to trade below the US$27,000 support level. Ether also retreated and lost control of the US$1,600 mark for the first time in the past week. All other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. Solana led the losers with a slide of over 3%. The drop in crypto prices coincided with a decline Thursday in global equity markets as investors digested hawkish U.S. Fed remarks on monetary policy. U.S. stock futures were trading flat during opening hours in Asia after all three major U.S. indexes logged losses of over 1.0% Thursday.\nBitcoin fell 2.10% in the last 24 hours to US$26,580.90 as of 07:30 a.m. in Hong Kong, according toCoinMarketCapdata. The world’s largest cryptocurrency fell to US$26,389.30 on Thursday night, its lowest level in a week.\nAfter deciding to keep interest rates unchanged in September as expected, the U.S. Federal Reserve projected one more interest rate hike by the end of 2023. While it lowered its prediction for the pace of interest rate cuts in 2024, comments from Fed members were “more hawkish” than analysts expected.\n“The drop in most tokens this morning could reflect the cautious stance of investors, who are carefully digesting the implications of the Federal Reserve’s recent interest rate remarks,”\xa0 said John Stefanidis, CEO of blockchain infrastructure platform Balthazar DAO.\n“Additionally, the surge in 10-year U.S. Treasury yields to 16-year highs could have played a role in reshaping market dynamics,” Stefanidis added.\nFollowing the Fed meeting Wednesday, benchmark 10-year U.S. treasury yieldsroseto a 16-year high of 4.49% on Thursday.\n“U.S. equity and rates markets have broken some very key levels on the back of this (Fed projection), and reflexivity can take over with the bearish thesis from here,”saiddigital asset trading firm QCP Capital in a Thursday Telegram market update.\nThe drop in equity markets and rising treasury yields “could seep into crypto markets and take BTC lower with it, albeit with a lower beta as compared to other very stretched macro markets like the NASDAQ,” said QCP Capital.\nDespite macro pressures, Bitcoin can receive some support from the multiple spot Bitcoin exchange-traded fund (ETF) applications ongoing in the U.S., said Markus Thielen, head of research and strategy at digital asset service platform Matrixport.\n“If the SEC approves a Bitcoin ETF, which we believe is a 70% probability over the next six months, then there could be an immediate re-pricing and Bitcoin could be +20% more expensive in an instant. Hence, it is essential to keep upside exposure to such an event,” Thielen said in an emailed comment.\nEther fell 2.35% to US$1,585.53 and was trading 2.66% lower for the week. The world’s second largest cryptocurrency fell below the US$1,600 support level for the first time since last Thursday.\nAll other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. Solana’s SOL led the losers, falling 3.73% to US$19.54. But it still posted a weekly gain of 3.35%\nMeanwhile, the collapsed Tokyo-based crypto exchange Mt. Gox delayed the deadline to repay its customers from October 2023 to October 2024, according to anannouncementby Mt. Gox trustees on Thursday.\nAround 850,000 Bitcoins (worth about US$22.57 billion at the current price) were stolen from Mt. Gox in 2014, which was then the largest crypto exchange in the world. The crypto exchange currently holds about142,000 Bitcoins. Analysts expect the return of the lost Bitcoin to Mt. Gox customers will exert selling pressure on the wider Bitcoin market.\n“(Mt. Gox’s delay) alleviates — at least for now — a wave of selling that many traders must have been prepping for and that can now be ignored,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\nElsewhere, Tether Holdings, the issuer of the USDT stablecoin,expandedits USDT lending services during the latest financial quarter, less than one year aftersayingit would phase out the practice.\n“Most investors and holders would see that as additional risk, as it means more assets will be used by third parties and, if market conditions were to turn for the worse, could pose liquidity issues,” said d’Anethan.\nUSDT traded at US$1.0001 as of 07:30 a.m. in Hong Kong, slightly higher than its 1:1 peg to the U.S. dollar. The valuation suggests “investors are not worried and actually prefer it to most other stablecoin options,” said d’Anethan.\nThe total crypto market capitalization dropped 1.67% in the past 24 hours to US$1.05 trillion, while trading volume jumped 158.64% to US$72.41 billion.\nU.S. stock futures were trading flat as of 09:30 a.m. in Hong Kong. Wall Street closed lower Thursday, the Nasdaq Composite leading the losers with a 1.82% slide. The Dow Jones Industrial Average and S&P 500 also booked losses of over 1%.\nMost major Asian stock indexes were down Thursday morning. Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all booked losses. The Kospi led the losers with a 0.92% drop, while China’s Shanghai Composite posted a marginal gain of 0.05%\nThe drop in equity markets followed the Federal Reserve’s hawkish tone on monetary policies at its September meeting Wednesday. Fed membersprojectedthe interest rate to reach 5.6% by the end of 2023, indicating another 25-basis-point rate hike to come within the year. The Fed also raised the projected median interest rate by the end of 2024 from 4.6% to 5.1% in a sign it intends to keep rates higher for longer.\nThe Fed may need to further raise the interest rate “to make sure that core inflation especially continues to come down at an appropriate pace so the committee can get back to 2% inflation in a reasonable time frame,” Former Federal Reserve Bank of St. Louis President James Bullard toldBloombergon Thursday.\n“The prospects for a soft landing are very good, but you haven’t landed until you get inflation back to 2%,” said Bullard. The U.S. core consumer price index (CPI) for Augustrose4.3% year-on-year, the smallest increase in almost two years.\nOn the economic data front, the initial jobless claims in the U.S.droppedto 201,000 in the week ending Sept. 16. The figure is lower than the analyst expectation of225,000and marks the lowest level since January. The data could add to the Fed hawkishness regarding monetary policy.\n“This economy is just not showing any sign of slowing down which hints that inflation will not be coming back down to target,” Christopher Rupkey, chief economist at FWDBONDS in New York, toldReuterson Friday. “The Fed was wise to keep another interest rate hike in their back pockets just in case, and it now looks like another rate hike is warranted.”\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 73.8% chance of no interest rate hike in November, up from 71.6% on Thursday. It also gives a 54.8% chance of another pause in December, up from 53.4% on Thursday.\nElsewhere, Russiaissueda temporary ban on diesel and gasoline exports on Thursday with an unspecified end date. The announcement triggered ajumpin diesel prices in Europe.\n“Despite this being only a temporary ban, the impact is significant as Russia remains a key diesel exporter to global markets,” Alan Gelder, vice president of refining, chemicals and oil markets at global consultancy group Wood Mackenzie Ltd., toldBloombergon Thursday.\n“The global refining system will struggle to replace those lost Russian volumes at a time when global diesel inventories are already at low levels,” Gelder added.\nIn Japan, the country’s central bankannouncedits own decision on interest rates Friday. The Bank of Japan will maintain its ultra loose monetary policy. That includes a short-term interest rate target of -0.1% and an effective cap of 1.0% on 10-year bond yields.\n(Updates with equity section, Stefanidis’ comment)', 'Bitcoin dropped Friday morning in Asia to trade below the US$27,000 support level. Ether also retreated and lost control of the US$1,600 mark for the first time in the past week. All other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. Solana led the losers with a slide of over 3%. The drop in crypto prices coincided with a decline Thursday in global equity markets as investors digested hawkish U.S. Fed remarks on monetary policy. U.S. stock futures were trading flat during opening hours in Asia after all three major U.S. indexes logged losses of over 1.0% Thursday. Cryptos drop as US bond yields soar Bitcoin fell 2.10% in the last 24 hours to US$26,580.90 as of 07:30 a.m. in Hong Kong, according to CoinMarketCap data. The world’s largest cryptocurrency fell to US$26,389.30 on Thursday night, its lowest level in a week. After deciding to keep interest rates unchanged in September as expected, the U.S. Federal Reserve projected one more interest rate hike by the end of 2023. While it lowered its prediction for the pace of interest rate cuts in 2024, comments from Fed members were “ more hawkish ” than analysts expected. “The drop in most tokens this morning could reflect the cautious stance of investors, who are carefully digesting the implications of the Federal Reserve’s recent interest rate remarks,”\xa0 said John Stefanidis, CEO of blockchain infrastructure platform Balthazar DAO. “Additionally, the surge in 10-year U.S. Treasury yields to 16-year highs could have played a role in reshaping market dynamics,” Stefanidis added. Following the Fed meeting Wednesday, benchmark 10-year U.S. treasury yields rose to a 16-year high of 4.49% on Thursday. “U.S. equity and rates markets have broken some very key levels on the back of this (Fed projection), and reflexivity can take over with the bearish thesis from here,” said digital asset trading firm QCP Capital in a Thursday Telegram market update. The drop in equity markets and rising treasury yields “could seep into crypto markets and take BTC lower with it, albeit with a lower beta as compared to other very stretched macro markets like the NASDAQ,” said QCP Capital. Despite macro pressures, Bitcoin can receive some support from the multiple spot Bitcoin exchange-traded fund (ETF) applications ongoing in the U.S., said Markus Thielen, head of research and strategy at digital asset service platform Matrixport. “If the SEC approves a Bitcoin ETF, which we believe is a 70% probability over the next six months, then there could be an immediate re-pricing and Bitcoin could be +20% more expensive in an instant. Hence, it is essential to keep upside exposure to such an event,” Thielen said in an emailed comment. Story continues Ether fell 2.35% to US$1,585.53 and was trading 2.66% lower for the week. The world’s second largest cryptocurrency fell below the US$1,600 support level for the first time since last Thursday. All other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. Solana’s SOL led the losers, falling 3.73% to US$19.54. But it still posted a weekly gain of 3.35% Meanwhile, the collapsed Tokyo-based crypto exchange Mt. Gox delayed the deadline to repay its customers from October 2023 to October 2024, according to an announcement by Mt. Gox trustees on Thursday. Around 850,000 Bitcoins (worth about US$22.57 billion at the current price) were stolen from Mt. Gox in 2014, which was then the largest crypto exchange in the world. The crypto exchange currently holds about 142,000 Bitcoins . Analysts expect the return of the lost Bitcoin to Mt. Gox customers will exert selling pressure on the wider Bitcoin market. “(Mt. Gox’s delay) alleviates — at least for now — a wave of selling that many traders must have been prepping for and that can now be ignored,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. Elsewhere, Tether Holdings, the issuer of the USDT stablecoin, expanded its USDT lending services during the latest financial quarter, less than one year after saying it would phase out the practice. “Most investors and holders would see that as additional risk, as it means more assets will be used by third parties and, if market conditions were to turn for the worse, could pose liquidity issues,” said d’Anethan. USDT traded at US$1.0001 as of 07:30 a.m. in Hong Kong, slightly higher than its 1:1 peg to the U.S. dollar. The valuation suggests “investors are not worried and actually prefer it to most other stablecoin options,” said d’Anethan. The total crypto market capitalization dropped 1.67% in the past 24 hours to US$1.05 trillion, while trading volume jumped 158.64% to US$72.41 billion. No sign of US economic slowdown; BOJ maintains monetary easing Image: Getty Images U.S. stock futures were trading flat as of 09:30 a.m. in Hong Kong. Wall Street closed lower Thursday, the Nasdaq Composite leading the losers with a 1.82% slide. The Dow Jones Industrial Average and S&P 500 also booked losses of over 1%. Most major Asian stock indexes were down Thursday morning. Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all booked losses. The Kospi led the losers with a 0.92% drop, while China’s Shanghai Composite posted a marginal gain of 0.05% The drop in equity markets followed the Federal Reserve’s hawkish tone on monetary policies at its September meeting Wednesday. Fed members projected the interest rate to reach 5.6% by the end of 2023, indicating another 25-basis-point rate hike to come within the year. The Fed also raised the projected median interest rate by the end of 2024 from 4.6% to 5.1% in a sign it intends to keep rates higher for longer. The Fed may need to further raise the interest rate “to make sure that core inflation especially continues to come down at an appropriate pace so the committee can get back to 2% inflation in a reasonable time frame,” Former Federal Reserve Bank of St. Louis President James Bullard told Bloomberg on Thursday. “The prospects for a soft landing are very good, but you haven’t landed until you get inflation back to 2%,” said Bullard. The U.S. core consumer price index (CPI) for August rose 4.3% year-on-year, the smallest increase in almost two years. On the economic data front, the initial jobless claims in the U.S. dropped to 201,000 in the week ending Sept. 16. The figure is lower than the analyst expectation of 225,000 and marks the lowest level since January. The data could add to the Fed hawkishness regarding monetary policy. “This economy is just not showing any sign of slowing down which hints that inflation will not be coming back down to target,” Christopher Rupkey, chief economist at FWDBONDS in New York, told Reuters on Friday. “The Fed was wise to keep another interest rate hike in their back pockets just in case, and it now looks like another rate hike is warranted.” The Fed meets on Nov. 1 to make its next decision on interest rates. The CME FedWatch Tool predicts a 73.8% chance of no interest rate hike in November, up from 71.6% on Thursday. It also gives a 54.8% chance of another pause in December, up from 53.4% on Thursday. Elsewhere, Russia issued a temporary ban on diesel and gasoline exports on Thursday with an unspecified end date. The announcement triggered a jump in diesel prices in Europe. “Despite this being only a temporary ban, the impact is significant as Russia remains a key diesel exporter to global markets,” Alan Gelder, vice president of refining, chemicals and oil markets at global consultancy group Wood Mackenzie Ltd., told Bloomberg on Thursday. “The global refining system will struggle to replace those lost Russian volumes at a time when global diesel inventories are already at low levels,” Gelder added. In Japan, the country’s central bank announced its own decision on interest rates Friday. The Bank of Japan will maintain its ultra loose monetary policy. That includes a short-term interest rate target of -0.1% and an effective cap of 1.0% on 10-year bond yields. (Updates with equity section, Stefanidis’ comment) View comments', 'Bitcoin dropped Friday morning in Asia to trade below the US$27,000 support level. Ether also retreated and lost control of the US$1,600 mark for the first time in the past week. All other top 10 non-stablecoin cryptocurrencies logged losses in the past 24 hours. Solana led the losers with a slide of over 3%. The drop in crypto prices coincided with a decline Thursday in global equity markets as investors digested hawkish U.S. Fed remarks on monetary policy. U.S. stock futures were trading flat during opening hours in Asia after all three major U.S. indexes logged losses of over 1.0% Thursday.\nBitcoin fell 2.10% in the last 24 hours to US$26,580.90 as of 07:30 a.m. in Hong Kong, according toCoinMarketCapdata. The world’s largest cryptocurrency fell to US$26,389.30 on Thursday night, its lowest level in a week.\nAfter deciding to keep interest rates unchanged in September as expected, the U.S. Federal Reserve projected one more interest rate hike by the end of 2023. While it lowered its prediction for the pace of interest rate cuts in 2024, comments from Fed members were “more hawkish” than analysts expected.\n“The drop in most tokens this morning could reflect the cautious stance of investors, who are carefully digesting the implications of the Federal Reserve’s recent interest rate remarks,”\xa0 said John Stefanidis, CEO of blockchain infrastructure platform Balthazar DAO.\n“Additionally, the surge in 10-year U.S. Treasury yields to 16-year highs could have played a role in reshaping market dynamics,” Stefanidis added.\nFollowing the Fed meeting Wednesday, benchmark 10-year U.S. treasury yieldsroseto a 16-year high of 4.49% on Thursday.\n“U.S. equity and rates markets have broken some very key levels on the back of this (Fed projection), and reflexivity can take over with the bearish thesis from here,”saiddigital asset trading firm QCP Capital in a Thursday Telegram market update.\nThe drop in equity markets and rising treasury yields “could seep into crypto markets and take BTC lower with it, albeit with a lower beta as compared to other very stretched macro markets like the NASDAQ,” said QCP Capital.\nDespite macro pressures, Bitcoin can receive some support from the multiple spot Bitcoin exchange-traded fund (ETF) applications ongoing in the U.S., said Markus Thielen, head of research and strategy at digital asset service platform Matrixport.\n“If the SEC approves a Bitcoin ETF, which we believe is a 70% probability over the next six months, then there could be an immediate re-pricing and Bitcoin could be +20% more expensive in an instant. Hence, it is essential to keep upside exposure to such an event,” Thielen said in an emailed comment.\nEther fell 2.35% to US$1,585.53 and was trading 2.66% lower for the week. The world’s second largest cryptocurrency fell below the US$1,600 support level for the first time since last Thursday.\nAll other top 10 non-stablecoin cryptocurrencies posted losses in the past 24 hours. Solana’s SOL led the losers, falling 3.73% to US$19.54. But it still posted a weekly gain of 3.35%\nMeanwhile, the collapsed Tokyo-based crypto exchange Mt. Gox delayed the deadline to repay its customers from October 2023 to October 2024, according to anannouncementby Mt. Gox trustees on Thursday.\nAround 850,000 Bitcoins (worth about US$22.57 billion at the current price) were stolen from Mt. Gox in 2014, which was then the largest crypto exchange in the world. The crypto exchange currently holds about142,000 Bitcoins. Analysts expect the return of the lost Bitcoin to Mt. Gox customers will exert selling pressure on the wider Bitcoin market.\n“(Mt. Gox’s delay) alleviates — at least for now — a wave of selling that many traders must have been prepping for and that can now be ignored,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\nElsewhere, Tether Holdings, the issuer of the USDT stablecoin,expandedits USDT lending services during the latest financial quarter, less than one year aftersayingit would phase out the practice.\n“Most investors and holders would see that as additional risk, as it means more assets will be used by third parties and, if market conditions were to turn for the worse, could pose liquidity issues,” said d’Anethan.\nUSDT traded at US$1.0001 as of 07:30 a.m. in Hong Kong, slightly higher than its 1:1 peg to the U.S. dollar. The valuation suggests “investors are not worried and actually prefer it to most other stablecoin options,” said d’Anethan.\nThe total crypto market capitalization dropped 1.67% in the past 24 hours to US$1.05 trillion, while trading volume jumped 158.64% to US$72.41 billion.\nU.S. stock futures were trading flat as of 09:30 a.m. in Hong Kong. Wall Street closed lower Thursday, the Nasdaq Composite leading the losers with a 1.82% slide. The Dow Jones Industrial Average and S&P 500 also booked losses of over 1%.\nMost major Asian stock indexes were down Thursday morning. Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi all booked losses. The Kospi led the losers with a 0.92% drop, while China’s Shanghai Composite posted a marginal gain of 0.05%\nThe drop in equity markets followed the Federal Reserve’s hawkish tone on monetary policies at its September meeting Wednesday. Fed membersprojectedthe interest rate to reach 5.6% by the end of 2023, indicating another 25-basis-point rate hike to come within the year. The Fed also raised the projected median interest rate by the end of 2024 from 4.6% to 5.1% in a sign it intends to keep rates higher for longer.\nThe Fed may need to further raise the interest rate “to make sure that core inflation especially continues to come down at an appropriate pace so the committee can get back to 2% inflation in a reasonable time frame,” Former Federal Reserve Bank of St. Louis President James Bullard toldBloombergon Thursday.\n“The prospects for a soft landing are very good, but you haven’t landed until you get inflation back to 2%,” said Bullard. The U.S. core consumer price index (CPI) for Augustrose4.3% year-on-year, the smallest increase in almost two years.\nOn the economic data front, the initial jobless claims in the U.S.droppedto 201,000 in the week ending Sept. 16. The figure is lower than the analyst expectation of225,000and marks the lowest level since January. The data could add to the Fed hawkishness regarding monetary policy.\n“This economy is just not showing any sign of slowing down which hints that inflation will not be coming back down to target,” Christopher Rupkey, chief economist at FWDBONDS in New York, toldReuterson Friday. “The Fed was wise to keep another interest rate hike in their back pockets just in case, and it now looks like another rate hike is warranted.”\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 73.8% chance of no interest rate hike in November, up from 71.6% on Thursday. It also gives a 54.8% chance of another pause in December, up from 53.4% on Thursday.\nElsewhere, Russiaissueda temporary ban on diesel and gasoline exports on Thursday with an unspecified end date. The announcement triggered ajumpin diesel prices in Europe.\n“Despite this being only a temporary ban, the impact is significant as Russia remains a key diesel exporter to global markets,” Alan Gelder, vice president of refining, chemicals and oil markets at global consultancy group Wood Mackenzie Ltd., toldBloombergon Thursday.\n“The global refining system will struggle to replace those lost Russian volumes at a time when global diesel inventories are already at low levels,” Gelder added.\nIn Japan, the country’s central bankannouncedits own decision on interest rates Friday. The Bank of Japan will maintain its ultra loose monetary policy. That includes a short-term interest rate target of -0.1% and an effective cap of 1.0% on 10-year bond yields.\n(Updates with equity section, Stefanidis’ comment)', 'Bitmain will supply Core Scientific with 27,000 latest generation bitcoin miners and signs new hosting agreement HONG KONG, September 22, 2023 --( BUSINESS WIRE )-- World Digital Mining Summit – Core Scientific, Inc. (OTC: CORZQ) ("Core Scientific" or "the Company"), a leader in high-performance blockchain computing data centers and software solutions, today announced Bitmain , the world’s leading manufacturer of digital currency mining servers, has agreed to invest $53.9 million in the Company, expanding the two companies’ longstanding relationship. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230921433915/en/ Core Scientific is one of the largest producers of bitcoin in North America (Graphic: Core Scientific) Bitmain and Core Scientific have agreed on a combination of equity and cash to finance the purchase of new and more efficient bitcoin mining equipment. Separately, Bitmain has executed a new hosting agreement with Core Scientific to support Bitmain’s mining business. The deals demonstrate Bitmain’s ongoing commitment to the North American digital asset mining industry. "We look forward to deepening our strategic relationship with Core Scientific, our long-standing U.S.-based partner," said Max Hua, Bitmain CEO. "Their professionalism, integrity, and commitment to the success of their hosting customers and to the growth of the Bitcoin Network is unsurpassed in the industry." Under the terms of the purchase agreement, Bitmain will supply Core Scientific with 27,000 Bitmain S19J XP 151 TH bitcoin mining servers in exchange for $23.1 million in cash and $53.9 million in Core Scientific common stock at a per share value that will be determined in accordance with a bankruptcy court approved chapter 11 plan of reorganization, the approval of which is expected during the fourth quarter of this year. The S19J XP operates at a high efficiency level of 21.7 Joules per TH/s. "We are honored to expand our significant relationship with Bitmain," said CEO of Core Scientific, Adam Sullivan. "Together, we have worked tirelessly to professionalize our industry, charting a path for the long-term growth of the Bitcoin Network as bitcoin adoption increases around the world." Core Scientific has operated more than 600,000 Bitmain miners across its data centers since beginning operations in 2017. Today, 99% of the more than 200,000 miners the Company currently operates for itself and its hosting customers are Bitmain S19 models, including those owned by Core Scientific and those hosted for customers. In addition to supplying miners to Core Scientific, Bitmain has been a hosting customer for nearly five years, entrusting the Company to operate and maintain a large number of its own miners. Story continues Sullivan added, "Bitmain’s product quality, attention to service and responsiveness are critical to our success in supporting the Bitcoin Network. The new miners we are securing with this agreement will enhance our mining fleet’s efficiency as we continue to prepare for next year’s halving event and beyond." "Core Scientific is an important contributor to the strength and stability of the Bitcoin Network, and we look forward to working closely with their team to help realize Bitcoin’s full potential," Hua added. The Company plans to receive and energize the 27,000 units in the fourth quarter of 2023, adding a potential 4.1 exahashes to its self-mining hash rate. The two industry leaders have also agreed to work together to upgrade Bitmain’s previous generation miners hosted at Core Scientific’s data centers with S19J XP servers, effectively increasing the Company’s total hash rate further. As of August 31, 2023, Core Scientific operated approximately 206,000 bitcoin miners for both colocation and self-mining, representing a total energized hash rate of 22.0 exahashes per second at its data center facilities in five U.S. states. Core Scientific’s self-mining operations produced 965 bitcoin in August, and 9,755 bitcoin year to date through August 31, more than any other listed bitcoin miner in North America. ABOUT Bitmain Bitmain is the world\'s leading manufacturer of digital currency mining servers through its brand ANTMINER, which has long maintained a global market share and leading position in technology, serving customers across over 100 countries and regions. The company has subsidiaries in China, the United States, Singapore, Malaysia, Kazakhstan, and other locations. ABOUT CORE SCIENTIFIC Core Scientific ( OTC: CORZQ ) is one of the largest blockchain computing data center providers and miners of digital assets in North America. Core Scientific has operated blockchain computing data centers in North America since 2017, using its facilities and intellectual property portfolio for colocated digital asset mining and self-mining. Core Scientific operates data centers in Georgia, Kentucky, North Carolina, North Dakota and Texas. Core Scientific’s proprietary Minder® fleet management software combines the Company’s colocation expertise with data analytics to deliver maximum uptime, alerting, monitoring and management of all miners in the Company’s network. To learn more, visit http://www.corescientific.com . FORWARD LOOKING STATEMENTS AND EXPLANATORY NOTES This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, those related to the Company’s ability to scale and grow its business, meet its expected operating plan, source clean and renewable energy, the advantages and expected growth of the Company, future estimates of revenue, net income, adjusted EBITDA, total debt, free cash flow, liquidity and future financing availability, future estimates of computing capacity and operating capacity, future demand for colocation capacity, future estimate of hash rate (including mix of self-mining and colocation) and operating gigawatts, future projects in construction or negotiation and future expectations of operation location, orders for miners and critical infrastructure, future estimates of self-mining capacity, the public float of the Company’s shares, future infrastructure additions and their operational capacity, and operating capacity and site features of the Company’s operations and planned operations. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the Company’s ability to obtain bankruptcy court approval with respect to motions in its Chapter 11 cases, successfully enter into and implement a restructuring plan, emerge from Chapter 11 and achieve significant cash flows from operations; the effects of the Chapter 11 cases on the Company and on the interests of various constituents, bankruptcy court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general, the length of time the Company will operate under the Chapter 11 cases, risks associated with any third-party motions in the Chapter 11 cases, the potential adverse effects of the Chapter 11 cases on the Company’s liquidity or results of operations and increased legal and other professional costs necessary to execute the Company’s reorganization; satisfaction of any conditions to which the Company’s debtor-in-possession financing is subject and the risk that these conditions may not be satisfied for various reasons, including for reasons outside of the Company’s control; the consequences of the acceleration of the Company’s debt obligations; the trading price and volatility of the Company’s common stock as well as other risk factors set forth in the Company’s reports filed with the U.S. Securities & Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Accordingly, undue reliance should not be placed upon the forward-looking statements. Please follow Core Scientific on: https://www.linkedin.com/company/corescientific/ https://twitter.com/core_scientific View source version on businesswire.com: https://www.businesswire.com/news/home/20230921433915/en/ Contacts For Bitmain: [email protected] For Core Scientific: Investors: [email protected] Media: [email protected] View comments', 'Bitmain will supply Core Scientific with 27,000 latest generation bitcoin miners and signs new hosting agreement HONG KONG, September 22, 2023 --( BUSINESS WIRE )-- World Digital Mining Summit – Core Scientific, Inc. (OTC: CORZQ) ("Core Scientific" or "the Company"), a leader in high-performance blockchain computing data centers and software solutions, today announced Bitmain , the world’s leading manufacturer of digital currency mining servers, has agreed to invest $53.9 million in the Company, expanding the two companies’ longstanding relationship. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230921433915/en/ Core Scientific is one of the largest producers of bitcoin in North America (Graphic: Core Scientific) Bitmain and Core Scientific have agreed on a combination of equity and cash to finance the purchase of new and more efficient bitcoin mining equipment. Separately, Bitmain has executed a new hosting agreement with Core Scientific to support Bitmain’s mining business. The deals demonstrate Bitmain’s ongoing commitment to the North American digital asset mining industry. "We look forward to deepening our strategic relationship with Core Scientific, our long-standing U.S.-based partner," said Max Hua, Bitmain CEO. "Their professionalism, integrity, and commitment to the success of their hosting customers and to the growth of the Bitcoin Network is unsurpassed in the industry." Under the terms of the purchase agreement, Bitmain will supply Core Scientific with 27,000 Bitmain S19J XP 151 TH bitcoin mining servers in exchange for $23.1 million in cash and $53.9 million in Core Scientific common stock at a per share value that will be determined in accordance with a bankruptcy court approved chapter 11 plan of reorganization, the approval of which is expected during the fourth quarter of this year. The S19J XP operates at a high efficiency level of 21.7 Joules per TH/s. "We are honored to expand our significant relationship with Bitmain," said CEO of Core Scientific, Adam Sullivan. "Together, we have worked tirelessly to professionalize our industry, charting a path for the long-term growth of the Bitcoin Network as bitcoin adoption increases around the world." Core Scientific has operated more than 600,000 Bitmain miners across its data centers since beginning operations in 2017. Today, 99% of the more than 200,000 miners the Company currently operates for itself and its hosting customers are Bitmain S19 models, including those owned by Core Scientific and those hosted for customers. In addition to supplying miners to Core Scientific, Bitmain has been a hosting customer for nearly five years, entrusting the Company to operate and maintain a large number of its own miners. Story continues Sullivan added, "Bitmain’s product quality, attention to service and responsiveness are critical to our success in supporting the Bitcoin Network. The new miners we are securing with this agreement will enhance our mining fleet’s efficiency as we continue to prepare for next year’s halving event and beyond." "Core Scientific is an important contributor to the strength and stability of the Bitcoin Network, and we look forward to working closely with their team to help realize Bitcoin’s full potential," Hua added. The Company plans to receive and energize the 27,000 units in the fourth quarter of 2023, adding a potential 4.1 exahashes to its self-mining hash rate. The two industry leaders have also agreed to work together to upgrade Bitmain’s previous generation miners hosted at Core Scientific’s data centers with S19J XP servers, effectively increasing the Company’s total hash rate further. As of August 31, 2023, Core Scientific operated approximately 206,000 bitcoin miners for both colocation and self-mining, representing a total energized hash rate of 22.0 exahashes per second at its data center facilities in five U.S. states. Core Scientific’s self-mining operations produced 965 bitcoin in August, and 9,755 bitcoin year to date through August 31, more than any other listed bitcoin miner in North America. ABOUT Bitmain Bitmain is the world\'s leading manufacturer of digital currency mining servers through its brand ANTMINER, which has long maintained a global market share and leading position in technology, serving customers across over 100 countries and regions. The company has subsidiaries in China, the United States, Singapore, Malaysia, Kazakhstan, and other locations. ABOUT CORE SCIENTIFIC Core Scientific ( OTC: CORZQ ) is one of the largest blockchain computing data center providers and miners of digital assets in North America. Core Scientific has operated blockchain computing data centers in North America since 2017, using its facilities and intellectual property portfolio for colocated digital asset mining and self-mining. Core Scientific operates data centers in Georgia, Kentucky, North Carolina, North Dakota and Texas. Core Scientific’s proprietary Minder® fleet management software combines the Company’s colocation expertise with data analytics to deliver maximum uptime, alerting, monitoring and management of all miners in the Company’s network. To learn more, visit http://www.corescientific.com . FORWARD LOOKING STATEMENTS AND EXPLANATORY NOTES This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, those related to the Company’s ability to scale and grow its business, meet its expected operating plan, source clean and renewable energy, the advantages and expected growth of the Company, future estimates of revenue, net income, adjusted EBITDA, total debt, free cash flow, liquidity and future financing availability, future estimates of computing capacity and operating capacity, future demand for colocation capacity, future estimate of hash rate (including mix of self-mining and colocation) and operating gigawatts, future projects in construction or negotiation and future expectations of operation location, orders for miners and critical infrastructure, future estimates of self-mining capacity, the public float of the Company’s shares, future infrastructure additions and their operational capacity, and operating capacity and site features of the Company’s operations and planned operations. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the Company’s ability to obtain bankruptcy court approval with respect to motions in its Chapter 11 cases, successfully enter into and implement a restructuring plan, emerge from Chapter 11 and achieve significant cash flows from operations; the effects of the Chapter 11 cases on the Company and on the interests of various constituents, bankruptcy court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general, the length of time the Company will operate under the Chapter 11 cases, risks associated with any third-party motions in the Chapter 11 cases, the potential adverse effects of the Chapter 11 cases on the Company’s liquidity or results of operations and increased legal and other professional costs necessary to execute the Company’s reorganization; satisfaction of any conditions to which the Company’s debtor-in-possession financing is subject and the risk that these conditions may not be satisfied for various reasons, including for reasons outside of the Company’s control; the consequences of the acceleration of the Company’s debt obligations; the trading price and volatility of the Company’s common stock as well as other risk factors set forth in the Company’s reports filed with the U.S. Securities & Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Accordingly, undue reliance should not be placed upon the forward-looking statements. Please follow Core Scientific on: https://www.linkedin.com/company/corescientific/ https://twitter.com/core_scientific View source version on businesswire.com: https://www.businesswire.com/news/home/20230921433915/en/ Contacts For Bitmain: [email protected] For Core Scientific: Investors: [email protected] Media: [email protected] View comments', '• US stocks plunged on Thursday as bond yields surged following the Fed\'s policy meeting.\n• The 10-year US Treasury rate jumped to a high of 4.49%, its highest level since October 2007.\n• A potential government shutdown also could be imminent as the House went on recess after failing to pass a funding bill.\nUS stocks plunged on Thursday, extending their week- and month-long decline, as bond yields surged following the Federal Reserve\'s meeting on Wednesday.\nThe 10-year US Treasury rate jumped to a high of 4.49% on Thursday, representing its highest level since October 2007, while the 2-year Treasury yield jumped to its highest level since 2006.\nFed Chairman Jerome Powell telegraphed that inflation still remains a top concern and the Fed\'s "dot plot" forecasts signaled only two rate cuts in 2024, whereas the market expected closer to three or four cuts next year.\n"He underscored numerous times that while the Fed remains data dependent and can proceed carefully, but another rate hike remains on the table as the Fed is seemingly wedded towards restoring price stability," LPL Financial strategist Quincy Krosby told Insider.\nMeanwhile, a potential government shutdown could be imminent after the Republican-controlled House of Representatives went on recess after failing to pass rules for a defense funding bill, dimming hopes for an overall budget deal to keep the government open. A potential shutdown could occur in October.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Thursday:\n• S&P 500:4,330.00, down 1.64%\n• Dow Jones Industrial Average:34,070.42, down 1.08% (37046 points)\n• Nasdaq Composite:13,223.99, down 1.82%\nHere\'s what else is going on today:\n• Jobless claims fell to 201,000 last week,the lowest reading since January and below economist estimates of 225,000, signaling the labor market remains tight.\n• Nvidia\'s stellar 2023 rally flamed out this month,with the semiconductor giant shedding nearly $180 billion in market value as its stock price feels the full force of the "September effect."\n• China is probing the activities of hedge fundsthat use quantitative trading strategies to bet against its struggling stock market.\n• Investors should brace for another interest-rate increaseby the Federal Reserve, with the recent surge in oil prices likely to rekindle inflation pressures, billionaire investor Jeff Gundlach said.\n• Billionaire investors Ken Griffin and Bill Ackman met with Volodymyr Zelenskyyas Ukraine looks to rebuild its economy with private-sector funds.\n• A $10,000 bill issued by the US Treasury in 1934 just soldin an auction for $480,000, representing a record for the high-denomination bill.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 0.03% to $89.63 a barrel.Brent crude, the international benchmark, dropped 0.27% to $93.28 a barrel.\n• Goldfell 1.36% to $1,940.40 per ounce.\n• The yield on the 10-year Treasury bond jumped 14 basis points to 4.49%.\n• Bitcoinfell 1.91% to $26,608.\nRead the original article onBusiness Insider', 'Lucas Jackson/Reuters US stocks plunged on Thursday as bond yields surged following the Fed\'s policy meeting. The 10-year US Treasury rate jumped to a high of 4.49%, its highest level since October 2007. A potential government shutdown also could be imminent as the House went on recess after failing to pass a funding bill. US stocks plunged on Thursday, extending their week- and month-long decline, as bond yields surged following the Federal Reserve\'s meeting on Wednesday. The 10-year US Treasury rate jumped to a high of 4.49% on Thursday, representing its highest level since October 2007, while the 2-year Treasury yield jumped to its highest level since 2006. Fed Chairman Jerome Powell telegraphed that inflation still remains a top concern and the Fed\'s "dot plot" forecasts signaled only two rate cuts in 2024, whereas the market expected closer to three or four cuts next year. "He underscored numerous times that while the Fed remains data dependent and can proceed carefully, but another rate hike remains on the table as the Fed is seemingly wedded towards restoring price stability," LPL Financial strategist Quincy Krosby told Insider. Meanwhile, a potential government shutdown could be imminent after the Republican-controlled House of Representatives went on recess after failing to pass rules for a defense funding bill, dimming hopes for an overall budget deal to keep the government open. A potential shutdown could occur in October. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Thursday: S&P 500 : 4,330.00, down 1.64% Dow Jones Industrial Average : 34,070.42, down 1.08% (37046 points) Nasdaq Composite : 13,223.99, down 1.82% Here\'s what else is going on today: Jobless claims fell to 201,000 last week, the lowest reading since January and below economist estimates of 225,000, signaling the labor market remains tight. Nvidia\'s stellar 2023 rally flamed out this month, with the semiconductor giant shedding nearly $180 billion in market value as its stock price feels the full force of the "September effect." China is probing the activities of hedge funds that use quantitative trading strategies to bet against its struggling stock market. Investors should brace for another interest-rate increase by the Federal Reserve, with the recent surge in oil prices likely to rekindle inflation pressures, billionaire investor Jeff Gundlach said. Billionaire investors Ken Griffin and Bill Ackman met with Volodymyr Zelenskyy as Ukraine looks to rebuild its economy with private-sector funds. A $10,000 bill issued by the US Treasury in 1934 just sold in an auction for $480,000, representing a record for the high-denomination bill. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 0.03% to $89.63 a barrel. Brent crude , the international benchmark, dropped 0.27% to $93.28 a barrel. Gold fell 1.36% to $1,940.40 per ounce. The yield on the 10-year Treasury bond jumped 14 basis points to 4.49%. Bitcoin fell 1.91% to $26,608. Read the original article on Business Insider', 'Bitcoin (BTC-USD) experienced a dip in value on Thursday, September 21, 2023, erasing gains made earlier in the week. The decline comes a day after the Federal Reserve signaled that interest rates will remain high for an extended period. The original cryptocurrency retreated 2.3% to $26.5K at 11:33 a.m. ET, after reaching as high as $27.4K in the run-up to the central bank\'s policy-decision meeting.\nThe Federal Open Market Committee kept rates unchanged on Wednesday, as expected, though policymakers maintained its projection of one more hike at one of its two final gatherings this year. Officials also raised their projections for the fed funds rate at the end of 2024 and 2025, both by 50 basis points.\nDespite the dip in value, Didar Bekbauov, founder and CEO of bitcoin joint mining company Xive, contends that the stagnant rate increase is a positive development for bitcoin. He stated that it "reduces the attractiveness of mainstream financial assets that can be appealing to institutional investors in the long term." Bekbauov furt
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-22
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $519,638,729,175
- Hash Rate: 366288302.2854464
- Transaction Count: 441679.0
- Unique Addresses: 757791.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.43
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin (BTC) and major tokens edged higher as traders digested concerns of a ruling in the ongoing FTX court casethat temporarily led to sell-off concernsearlier this week.
BTC rose 1.5% to trade over $26,100 in European morning hours on Thursday. Ether neared $1,700 before falling to $1,650. Xrp (XRP) and solana (SOL) led gains among major crypto tokens, rising as much as 3% before retreating.
The CoinDesk Market Index (CMI), a broad-based index that tracks the prices of hundreds of tokens, rose 1.67% in the past 24 hours.
Among mid-caps, THORChain’s rune (RUNE) bumped 6.8% as developersunveiled a wayto allow cross-chain swaps of bitcoin via a tool built in collaboration with ShapeShift.
A jump in SOL came even as crypto exchangeFTX revealed in bankruptcy court filings earlier this week that it holds $1.16 billion of SOL – approximately 16% of the token’s outstanding supply– and about $560 million in BTC. The rest of its holdings consist of lesser-known illiquid tokens.
On Wednesday, a judge in the U.S. Bankruptcy Court for the District of Delaware ruled that FTX could sell and invest its crypto holdings to pay back creditors.
SOL dropped up to 4% following the court ruling, but part of the stash is locked as venture investment and not available for sale. Aptos (APT),another token held by FTX, dropped nearly 2%.
Meanwhile, FxPro Senior Market Analyst Alex Kuptsikevich told CoinDesk in an email that, generally, bearish sentiment remained intact among professional traders.
“The question is whether the recent dip will be the starting point for the next rally. Keep an eye on the activity near the recent highs; for now, the market is not allowed to go higher,” Kuptsikevich said.
“Despite the potential for a rebound, BTCUSD remains within the bearish momentum that has been in place since July, with lower and lower highs and lows,” he added. “Ether remains in a downtrend, although its intensity is decreasing.”...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
| |
You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Machines replacing humans in the workplace is not new, but today’s advances in artificial intelligence could affect hundreds of millions of jobs. I wrote an article in 2021, Dying Careers You May Want to Steer Clear Of , about how jobs will start to disappear because smart machines are becoming smarter. Since that article, advances in artificial intelligence have exploded, making AI a possible threat to the job security of hundreds of millions of workers. Let’s examine what’s going on and whether you should update your résumé in case even savvier computers gobble up your job. The threat of your job becoming obsolete may feel like a new thing and a slap in the face. It’s not. This phenomenon has happened throughout history. The earliest example of a machine that could replace workers, that I could find, was in 1589 when William Lee invented the stocking frame knitting machine. Lee thought that workers would be thrilled to no longer have to sit in drafty rooms huddled together while knitting by hand, only to develop stooped shoulders and arthritis. He was wrong. Lee sought a patent for his revolutionary knitting machine and even invited Queen Elizabeth I to view his invention. The queen was more concerned about all of the knitters who could be laid off and refused to grant Lee a patent. According to Daron Acemoglu and James Robinson, authors of the 2012 book Why Nations Fail: The Origins of Power, Prosperity, and Poverty , the queen said, “Thou aimest high, Master Lee. Consider thou what the invention could do to my poor subjects. It would assuredly bring to them ruin by depriving them of employment, thus making them beggars.” We know that progress is impossible to stop, even for the queen. What industries could become obsolete in the future? Acknowledging that no one knows for sure what professions will or will not exist or how they will change over time, I think, in general, that the upper middle class is about to get slammed. Frankly, most white-collar employees involved in cognitive jobs should be worried. According to a paper from the University of Oxford, “The Future of Employment,” about 47% of total U.S. employment is at risk . It’s not just that actual robotic machines are more efficient, it’s also that our computers are becoming way smarter. Story continues AI could take your job Goldman Sachs estimates around 300 million jobs could be affected by generative AI . This could cause a seismic disruption, with an estimated two-thirds of jobs in the U.S. and Europe subject to some form of automation. So you might want to think about updating your skills and your résumé if you are in any of these professions: Office and administrative support Legal Architecture Engineering Business and financial operations Sales Education Arts and design Travel agents Truck drivers Medicine Librarian/archivist Sports referees Factory workers More depressing news Quantum computing is just around the corner. It is the new-new in the computer world. It can address complicated problems with many factors and therefore develop some outcomes more quickly than a regular computer. I think it will turn jobs like Bitcoin mining on its head, because it can solve math problems really quickly. If you just have computer skills on your résumé, you may also be out of luck, because these new quantum computing skills are unique. Jobs that may exist I’m confident that machines won’t replace the jobs that need a human touch. Machines can be great at performing certain functions, but they don’t have empathy, intuition or the ability to make a human connection. That means that if you work in health care, counseling or live customer service, your job may be safe. Wouldn’t it be great to also dream of a time, after an annoying bout with machine prompts, when you could talk to a real person? The crossroads of the ‘Oppenheimer’ effect Let’s now complicate matters further. Just as the queen and others have struggled with the ethics and morality of putting workers out of work, let’s ponder the morality of possibly creating science that can end the world. AI has caused many to become bereaved with the thought that it could lead to the military destruction of the world. The movie Oppenheimer (not to be confused with Barbie ) highlights this quandary. Alexander Karp, CEO of Palantir Technologies, discussed in The New York Times the moral judgments faced by Robert Oppenheimer, who is often referred to as the “father of the atomic bomb.” Oppenheimer is quoted to have said, “When you see something that is technically sweet, you go ahead and do it … and you argue about what to do about it only after you have had your technical success. That is the way it was with the atomic bomb.” That may also be the debate with AI. But just as with the atomic bomb, do we let our enemies develop it first? We did not shy away from building the automobile, which has led to horrific traffic deaths. We make laws and other protections, like seat belts and airbags, that protect the populace. Can we do the same with AI? This, like my previous article, can make for great dinner conversation with your kids. Ask them what they see in the future and what jobs they think will disappear and be created. Ask them what may come of the new “technical” brainpower we can build. How can it be used for good, and what should we do to prevent it from being used for evil? Part of being a parent is to not only help our kids to be resilient when it comes to change, but to also help them understand some of the consequences, as well. Remember the words of Albert Einstein: “The measure of intelligence is the ability to change.” related content Facing a Potential Job Loss? Here’s How to Prepare How to Avoid Getting Sued After Leaving Your Job Five Things to Consider When Weighing a Job Change The Job Market for People With Disabilities Is Booming 401(k) Options After You’ve Left Your Job', 'Machines replacing humans in the workplace is not new, but today’s advances in artificial intelligence could affect hundreds of millions of jobs. I wrote an article in 2021, Dying Careers You May Want to Steer Clear Of , about how jobs will start to disappear because smart machines are becoming smarter. Since that article, advances in artificial intelligence have exploded, making AI a possible threat to the job security of hundreds of millions of workers. Let’s examine what’s going on and whether you should update your résumé in case even savvier computers gobble up your job. The threat of your job becoming obsolete may feel like a new thing and a slap in the face. It’s not. This phenomenon has happened throughout history. The earliest example of a machine that could replace workers, that I could find, was in 1589 when William Lee invented the stocking frame knitting machine. Lee thought that workers would be thrilled to no longer have to sit in drafty rooms huddled together while knitting by hand, only to develop stooped shoulders and arthritis. He was wrong. Lee sought a patent for his revolutionary knitting machine and even invited Queen Elizabeth I to view his invention. The queen was more concerned about all of the knitters who could be laid off and refused to grant Lee a patent. According to Daron Acemoglu and James Robinson, authors of the 2012 book Why Nations Fail: The Origins of Power, Prosperity, and Poverty , the queen said, “Thou aimest high, Master Lee. Consider thou what the invention could do to my poor subjects. It would assuredly bring to them ruin by depriving them of employment, thus making them beggars.” We know that progress is impossible to stop, even for the queen. What industries could become obsolete in the future? Acknowledging that no one knows for sure what professions will or will not exist or how they will change over time, I think, in general, that the upper middle class is about to get slammed. Frankly, most white-collar employees involved in cognitive jobs should be worried. According to a paper from the University of Oxford, “The Future of Employment,” about 47% of total U.S. employment is at risk . It’s not just that actual robotic machines are more efficient, it’s also that our computers are becoming way smarter. Story continues AI could take your job Goldman Sachs estimates around 300 million jobs could be affected by generative AI . This could cause a seismic disruption, with an estimated two-thirds of jobs in the U.S. and Europe subject to some form of automation. So you might want to think about updating your skills and your résumé if you are in any of these professions: Office and administrative support Legal Architecture Engineering Business and financial operations Sales Education Arts and design Travel agents Truck drivers Medicine Librarian/archivist Sports referees Factory workers More depressing news Quantum computing is just around the corner. It is the new-new in the computer world. It can address complicated problems with many factors and therefore develop some outcomes more quickly than a regular computer. I think it will turn jobs like Bitcoin mining on its head, because it can solve math problems really quickly. If you just have computer skills on your résumé, you may also be out of luck, because these new quantum computing skills are unique. Jobs that may exist I’m confident that machines won’t replace the jobs that need a human touch. Machines can be great at performing certain functions, but they don’t have empathy, intuition or the ability to make a human connection. That means that if you work in health care, counseling or live customer service, your job may be safe. Wouldn’t it be great to also dream of a time, after an annoying bout with machine prompts, when you could talk to a real person? The crossroads of the ‘Oppenheimer’ effect Let’s now complicate matters further. Just as the queen and others have struggled with the ethics and morality of putting workers out of work, let’s ponder the morality of possibly creating science that can end the world. AI has caused many to become bereaved with the thought that it could lead to the military destruction of the world. The movie Oppenheimer (not to be confused with Barbie ) highlights this quandary. Alexander Karp, CEO of Palantir Technologies, discussed in The New York Times the moral judgments faced by Robert Oppenheimer, who is often referred to as the “father of the atomic bomb.” Oppenheimer is quoted to have said, “When you see something that is technically sweet, you go ahead and do it … and you argue about what to do about it only after you have had your technical success. That is the way it was with the atomic bomb.” That may also be the debate with AI. But just as with the atomic bomb, do we let our enemies develop it first? We did not shy away from building the automobile, which has led to horrific traffic deaths. We make laws and other protections, like seat belts and airbags, that protect the populace. Can we do the same with AI? This, like my previous article, can make for great dinner conversation with your kids. Ask them what they see in the future and what jobs they think will disappear and be created. Ask them what may come of the new “technical” brainpower we can build. How can it be used for good, and what should we do to prevent it from being used for evil? Part of being a parent is to not only help our kids to be resilient when it comes to change, but to also help them understand some of the consequences, as well. Remember the words of Albert Einstein: “The measure of intelligence is the ability to change.” related content Facing a Potential Job Loss? Here’s How to Prepare How to Avoid Getting Sued After Leaving Your Job Five Things to Consider When Weighing a Job Change The Job Market for People With Disabilities Is Booming 401(k) Options After You’ve Left Your Job', 'In this article, we will look at 30 low-cost business ideas with high profits. You can skip our detailed analysis of tech layoffs and resulting spike in business registrations and head over to 7 Low-Cost Business Ideas With High Profit . The United States saw a record-breaking employee resignation in the year 2022, as 50.5 Million people resigned from their jobs. This labor trend, also known as the "Great Resignation," was because of low pay, lack of schedule, and motivation. At the same time, new business applications in 2022 were up by 44% from 2019, with more than 5 million businesses created. In addition, A survey by Gusto found that inflation is the main driving force behind new business creation in 2022. This is a striking deviation from previous economic downturns, which discouraged people from leaving their jobs and starting new businesses. Small-scale businesses are essential for the US economy. The Small Business Administration notes that small companies generate 1.5 million jobs annually, accounting for 64% of new job creation in the United States. Small-scale businesses also contribute to 44% of US GDP. This upward trend in new business creation is also being called America’s startup surge. Unsurprisingly, African Americans were on the frontier of this startup surge. Third Way notes that there was a 103% increase in new business applications filed between 2019 and 2021 in counties with Black majority. In addition, in counties with more than 75% Black residents, applications for new businesses increased\xa0 at a rate of 198%. Along with the voluntary resignations in 2022, there were also many tech layoffs, which continued in 2023. Some of the companies that made large-scale layoffs included Meta Platforms, Inc. (NASDAQ: META ) and Alphabet Inc. (NASDAQ: GOOG ). However, a survey by Clarify Capital found that 63% of tech workers found their own companies post-layoffs. In addition, tech workers also reported an annual salary increase of $13,000, on average, post layoffs. Story continues With the backdrop of America’s Great Resignation and Startup Surge, it is worth looking at the current trends in small businesses. A Survey by Guidant Financial found that 58% of small businesses in 2022 were independent, nonfranchise businesses. 27.22% of business owners started their business from scratch, while 31.76% started it by purchasing an existing turnkey location. At 15.05%, the largest industry category for small business owners was retail, followed by food and restaurant at 13.71%. As a new entrepreneur with a limited budget, it is worth looking at low cost businesses with high profit . The tools available today make it easier to get started on a small budget and expand in the future. For example, if you want to get into the retail business, instead of building a brick-and-mortar storefront, you can sell online on Shopify Inc. (NYSE: SHOP )’s platform. Shopify Inc. (NYSE:SHOP) lets you create your store with integrated payment gateways. You would not even need a web developer to create your e-commerce store using Shopify Inc. (NYSE:SHOP)’s website-building platform. Many businesses also sell their products using Meta Platforms, Inc. (NASDAQ:META)’s Facebook marketplace. In addition, Facebook and Instagram ads are effective at showing your products to the right people. A large number of online startups rely on these ads to attract potential customers to their websites. This is corroborated by the fact that Meta Platforms, Inc. (NASDAQ:META)’s Facebook Ad revenue is expected to hit $153.76 Billion in 2023, making it the third consecutive year that Facebook\'s Ad revenue has surpassed $100 Billion. Meta Platforms, Inc. (NASDAQ:META) also remained one of the top contributors in some of the high-performing hedge fund portfolios. RiverPark Large Growth Fund made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q2 2023 investor letter : “Meta Platforms, Inc. (NASDAQ:META): META shares, continuing their rebound, were the top contributor for the second quarter. The company reported 1Q23 results, beating revenue expectations and lowering guidance for operating expenses and capital expenditures, while increasing revenue expectations.” Facebook ads are among the many tools available to attract visitors to your website. Alphabet Inc. (NASDAQ:GOOG)’s Google search algorithm brings organic visitors to your website. A technique, known as Search Engine Optimization, helps the website appear in Google search of relevant users. Alphabet Inc. (NASDAQ:GOOG)’s Google search engine has the largest share of the search market, but other search engines, such as Yahoo and Bing, are also useful in bringing the desired traffic. In addition, Alphabet Inc. (NASDAQ:GOOG)’s Google also lets you place several types of ads to bring paid traffic to your website. 30 Low Cost Business Ideas With High Profit Copyright: sifotography / 123RF Stock Photo Methodology We curated the list of low cost businesses with high profits using seven ( 1 , 2 , 3 , 4 , 5 , 6 , 7 ) of our previous profitable business articles. We made a list of all the profitable businesses recommended by these sources and noted their average net margin. Then, we used trusted sources like Step by Step Business, Starter Story, and Fin Model Labs to determine the average startup cost. For this list of low cost business ideas with high profits , we limited the maximum average startup costs to $20,000. Finally, we ranked businesses according to their profit margins. For businesses with the same net margins, we outranked those over the others which had a lower average startup cost. 30 Low Cost Business Ideas With High Profit 30 - Pet Food Business Profit Margin - 20% Average Startup Cost - $13,936 Pet Food Business is one of the most profitable low cost businesses . However, before marketing your product, you need to submit your business registration, licensing, and notification information to the FDA. You also need to meet your state and FDA requirements on various aspects, such as ingredients and manufacturing. 29 - Food Gift Basket Business Profit Margin - 20% Average Startup Cost - $11,015 Market Research Future notes that the personalized gift market, which was valued at $28.4 billion in 2022, will reach a market valuation of $42 billion by 2030. Given the high profit and low startup cost , a food gift basket business is an attractive option for budget-constrained entrepreneurs. 28 - Cleaning Services Profit Margin - 20.75% Average Startup Cost - $5,500 According to Verified Market Research, the cleaning service market is projected to grow at a CAGR of 5.3% from 2023 to 2030. It was valued at $66.65 billion in 2022 and is projected to grow to $101.98 billion by 2023. You can choose to start your business and brand from scratch or franchise some of the well-known companies. 27 - Errand/Concierge Service Profit Margin - $21.40% Average Startup Cost - $19,267 As per Starter Story, you can start a concierge service for as low as $62. However, if you plan on operating a brick-and-mortar front for your business, plan on spending an average of $19,267 on essentials such as a POS system, office furniture, security equipment, and tools. 26 - In-Home Caregiving Service Profit Margin - 23% Average Startup Cost - $7,000 According to the Population Reference Bureau, by 2060, 24% of the total US population will comprise seniors. This presents a good opportunity for an In-home caregiving business. However, starting this business requires obtaining relevant licenses and certifications, as per your state\'s rules. 25 - Ice Cream Shop Profit Margin - 25% Average Startup Cost - $19,815 While the average startup cost for a brick-and-mortar ice cream shop is $19,815, you can get started with a few hundred dollars if you plan to sell online. Alternatively, you can also start an ice cream stand or truck. 24 - Stock Brokers Profit Margin - 26% Average Startup Cost - $19,815 Before starting a Stock Broker firm, you must file the necessary regulatory forms and register with regulatory bodies such as the Securities and Exchange Commission. In addition, the success of your business will also depend on your contracts with clearing agents, who will ensure that your transactions are successful. 23 - Tax Preparation Services Profit Margin - 26% Average Startup Cost - $13,950 As a tax preparation services business, a significant portion of your costs will go towards tools such as CRM software. However, as per Starter Story, you can get started with as low as $12. 22 - Bookkeeping And Accounting Services Profit Margin - 26% Average Startup Cost - $12,272 If you have the relevant qualifications, a Bookkeeping and Accounting services firm can be a great option. With America’s Startup Surge, many new small businesses will require outsourced bookkeeping services since they may not be able to afford it in-house. 21 - Gourmet Popcorn Business Profit Margin - 30% Average Startup Cost - $19,815 While the average startup cost of a Gourmet Popcorn Business is $19,815, you can get started with much less if you sell only online. Alternatively, you can set up your popcorn store, or kiosk. 20 - Mobile Car Wash Services Profit Margin - 30% Average Startup Cost - $19,267 The startup cost of a mobile car wash business will vary greatly depending on whether you rent the trailer or buy it. In addition, you would also need to hire technicians with relevant certifications. 19 - Personal Chef Business Profit Margin - 30% Average Startup Cost - $18,308 According to Step by Step Business, you can start a personal chef business with as low as $2,000. This setup would be based on equipment already available at home. However, as you expand, you will have to buy or rent a commercial kitchen with professional equipment. 18 - Career Coaching Services Profit Margin - 30% Average Startup Cost - $11,992 With the recent layoffs and the Great Resignation, an increasing number of people will be looking for career coaching services. With this business, you can start on your own and expand in the future. 17 - Selling Hot Sauces Profit Margin - 30% Average Startup Cost - $7,000 Like candle making business, you can sell hot sauces directly to customers through a website or retail and convenience stores. According to Market Research Future, the global sauce market is projected to grow from $58.23 billion in 2023 to $89.37 billion by 2033, exhibiting a CAGR of 5.5%. 16 - Cookie Business Profit Margin - 30% Average Startup Cost - $6,825 According to Step by Step Business, you can get started with your cookie business for as low as $4,550. Some of the trends in the market include a shift towards healthy cookies and ready-to-bake products. 15 - Candle Making Business Profit Margin - 30% Average Startup Cost - $1,360 While the average startup cost of candle making business is $1,360, you can get started with $500. You can choose to sell your products through retail stores, or directly to the customer through platforms like Shopify Inc. (NYSE:SHOP). 14 - Baby or Pet Sitting Services Profit Margin - 33.70% Average Startup Cost - $3,075 The baby or pet-sitting services business is one of the low-cost businesses with high profit margins , but it comes with its own set of challenges. Gaining customer trust and building your brand is one of the challenges that you will need to overcome. In addition, you may also be required to work on weekends. 13 - Cloud Mining Business Profit Margin - 37% Average Startup Cost - $13,936 Cloud mining is profitable if you go for a trusted cloud mining service. One of the major currencies mined through cloud mining is Bitcoin. To learn more about Bitcoin mining, visit Top Trends Shaping Bitcoin Mining in 2023 . 12 - Dog Walking Business Profit Margin - 40% Average Startup Cost - $19,267 If you are passionate about dogs, the dog walking business is one of the low cost businesses with a high profit margin . Some of the startup costs you will incur include licensing and permits, marketing, and insurance. 11 - Airbnb Hosting Profit Margin - 40% Average Startup Cost - $18,308 The startup cost of starting an Airbnb hosting business will vary greatly depending on whether you are renting or buying a new property, or subletting your current residence. The business can be especially profitable if your Airbnb is near a tourist attraction. 10 - Healthy Snacks Business Profit Margin - 40% Average Startup Cost - $13,936 One of the trends in the food market is the shift toward healthy options. You can start a healthy snack business from your home and sell through a website. Alternatively, you utilize retail channels to sell your products. Focus on creating an original healthy snack mix to reap the most profit. 9 - Pet Grooming Profit Margin - 40% Average Startup Cost - $6,825 According to Fortune Business Insights, the global pet grooming and accessories market is projected to grow at a CAGR of 6.9% from 2023 to 2030. The market is valued at $72.5 billion and is expected to reach $116.23 billion by 2030. While the average cost of starting a pet grooming business is $6,825, you can get started with as low as $3,550. 8 - Cake Business Profit Margin - 40% Average Startup Cost - $4,500 The cake business is 8th on our list of low cost business ideas with high profit . If you want to set up a bakery or start a baked goods store, a cake business can provide an easy foot in the door. The healthy profit margin of 40% and low startup cost make it easier for new entrepreneurs to start this business. You can start this business from the comfort of your home, or rent out a commercial kitchen. Click to continue reading and see the 7 Low Cost Business Ideas with High Profit . Suggested Articles 25 Most Profitable Food Business Ideas 30 Most Profitable Businesses You Could Start in 2023 25 Profitable Home Business Ideas Disclosure: none. 30 Low Cost Business Ideas with High Profit is originally published on Insider Monkey', 'In this article, we will look at 30 low-cost business ideas with high profits. You can skip our detailed analysis of tech layoffs and resulting spike in business registrations and head over to 7 Low-Cost Business Ideas With High Profit . The United States saw a record-breaking employee resignation in the year 2022, as 50.5 Million people resigned from their jobs. This labor trend, also known as the "Great Resignation," was because of low pay, lack of schedule, and motivation. At the same time, new business applications in 2022 were up by 44% from 2019, with more than 5 million businesses created. In addition, A survey by Gusto found that inflation is the main driving force behind new business creation in 2022. This is a striking deviation from previous economic downturns, which discouraged people from leaving their jobs and starting new businesses. Small-scale businesses are essential for the US economy. The Small Business Administration notes that small companies generate 1.5 million jobs annually, accounting for 64% of new job creation in the United States. Small-scale businesses also contribute to 44% of US GDP. This upward trend in new business creation is also being called America’s startup surge. Unsurprisingly, African Americans were on the frontier of this startup surge. Third Way notes that there was a 103% increase in new business applications filed between 2019 and 2021 in counties with Black majority. In addition, in counties with more than 75% Black residents, applications for new businesses increased\xa0 at a rate of 198%. Along with the voluntary resignations in 2022, there were also many tech layoffs, which continued in 2023. Some of the companies that made large-scale layoffs included Meta Platforms, Inc. (NASDAQ: META ) and Alphabet Inc. (NASDAQ: GOOG ). However, a survey by Clarify Capital found that 63% of tech workers found their own companies post-layoffs. In addition, tech workers also reported an annual salary increase of $13,000, on average, post layoffs. Story continues With the backdrop of America’s Great Resignation and Startup Surge, it is worth looking at the current trends in small businesses. A Survey by Guidant Financial found that 58% of small businesses in 2022 were independent, nonfranchise businesses. 27.22% of business owners started their business from scratch, while 31.76% started it by purchasing an existing turnkey location. At 15.05%, the largest industry category for small business owners was retail, followed by food and restaurant at 13.71%. As a new entrepreneur with a limited budget, it is worth looking at low cost businesses with high profit . The tools available today make it easier to get started on a small budget and expand in the future. For example, if you want to get into the retail business, instead of building a brick-and-mortar storefront, you can sell online on Shopify Inc. (NYSE: SHOP )’s platform. Shopify Inc. (NYSE:SHOP) lets you create your store with integrated payment gateways. You would not even need a web developer to create your e-commerce store using Shopify Inc. (NYSE:SHOP)’s website-building platform. Many businesses also sell their products using Meta Platforms, Inc. (NASDAQ:META)’s Facebook marketplace. In addition, Facebook and Instagram ads are effective at showing your products to the right people. A large number of online startups rely on these ads to attract potential customers to their websites. This is corroborated by the fact that Meta Platforms, Inc. (NASDAQ:META)’s Facebook Ad revenue is expected to hit $153.76 Billion in 2023, making it the third consecutive year that Facebook\'s Ad revenue has surpassed $100 Billion. Meta Platforms, Inc. (NASDAQ:META) also remained one of the top contributors in some of the high-performing hedge fund portfolios. RiverPark Large Growth Fund made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q2 2023 investor letter : “Meta Platforms, Inc. (NASDAQ:META): META shares, continuing their rebound, were the top contributor for the second quarter. The company reported 1Q23 results, beating revenue expectations and lowering guidance for operating expenses and capital expenditures, while increasing revenue expectations.” Facebook ads are among the many tools available to attract visitors to your website. Alphabet Inc. (NASDAQ:GOOG)’s Google search algorithm brings organic visitors to your website. A technique, known as Search Engine Optimization, helps the website appear in Google search of relevant users. Alphabet Inc. (NASDAQ:GOOG)’s Google search engine has the largest share of the search market, but other search engines, such as Yahoo and Bing, are also useful in bringing the desired traffic. In addition, Alphabet Inc. (NASDAQ:GOOG)’s Google also lets you place several types of ads to bring paid traffic to your website. 30 Low Cost Business Ideas With High Profit Copyright: sifotography / 123RF Stock Photo Methodology We curated the list of low cost businesses with high profits using seven ( 1 , 2 , 3 , 4 , 5 , 6 , 7 ) of our previous profitable business articles. We made a list of all the profitable businesses recommended by these sources and noted their average net margin. Then, we used trusted sources like Step by Step Business, Starter Story, and Fin Model Labs to determine the average startup cost. For this list of low cost business ideas with high profits , we limited the maximum average startup costs to $20,000. Finally, we ranked businesses according to their profit margins. For businesses with the same net margins, we outranked those over the others which had a lower average startup cost. 30 Low Cost Business Ideas With High Profit 30 - Pet Food Business Profit Margin - 20% Average Startup Cost - $13,936 Pet Food Business is one of the most profitable low cost businesses . However, before marketing your product, you need to submit your business registration, licensing, and notification information to the FDA. You also need to meet your state and FDA requirements on various aspects, such as ingredients and manufacturing. 29 - Food Gift Basket Business Profit Margin - 20% Average Startup Cost - $11,015 Market Research Future notes that the personalized gift market, which was valued at $28.4 billion in 2022, will reach a market valuation of $42 billion by 2030. Given the high profit and low startup cost , a food gift basket business is an attractive option for budget-constrained entrepreneurs. 28 - Cleaning Services Profit Margin - 20.75% Average Startup Cost - $5,500 According to Verified Market Research, the cleaning service market is projected to grow at a CAGR of 5.3% from 2023 to 2030. It was valued at $66.65 billion in 2022 and is projected to grow to $101.98 billion by 2023. You can choose to start your business and brand from scratch or franchise some of the well-known companies. 27 - Errand/Concierge Service Profit Margin - $21.40% Average Startup Cost - $19,267 As per Starter Story, you can start a concierge service for as low as $62. However, if you plan on operating a brick-and-mortar front for your business, plan on spending an average of $19,267 on essentials such as a POS system, office furniture, security equipment, and tools. 26 - In-Home Caregiving Service Profit Margin - 23% Average Startup Cost - $7,000 According to the Population Reference Bureau, by 2060, 24% of the total US population will comprise seniors. This presents a good opportunity for an In-home caregiving business. However, starting this business requires obtaining relevant licenses and certifications, as per your state\'s rules. 25 - Ice Cream Shop Profit Margin - 25% Average Startup Cost - $19,815 While the average startup cost for a brick-and-mortar ice cream shop is $19,815, you can get started with a few hundred dollars if you plan to sell online. Alternatively, you can also start an ice cream stand or truck. 24 - Stock Brokers Profit Margin - 26% Average Startup Cost - $19,815 Before starting a Stock Broker firm, you must file the necessary regulatory forms and register with regulatory bodies such as the Securities and Exchange Commission. In addition, the success of your business will also depend on your contracts with clearing agents, who will ensure that your transactions are successful. 23 - Tax Preparation Services Profit Margin - 26% Average Startup Cost - $13,950 As a tax preparation services business, a significant portion of your costs will go towards tools such as CRM software. However, as per Starter Story, you can get started with as low as $12. 22 - Bookkeeping And Accounting Services Profit Margin - 26% Average Startup Cost - $12,272 If you have the relevant qualifications, a Bookkeeping and Accounting services firm can be a great option. With America’s Startup Surge, many new small businesses will require outsourced bookkeeping services since they may not be able to afford it in-house. 21 - Gourmet Popcorn Business Profit Margin - 30% Average Startup Cost - $19,815 While the average startup cost of a Gourmet Popcorn Business is $19,815, you can get started with much less if you sell only online. Alternatively, you can set up your popcorn store, or kiosk. 20 - Mobile Car Wash Services Profit Margin - 30% Average Startup Cost - $19,267 The startup cost of a mobile car wash business will vary greatly depending on whether you rent the trailer or buy it. In addition, you would also need to hire technicians with relevant certifications. 19 - Personal Chef Business Profit Margin - 30% Average Startup Cost - $18,308 According to Step by Step Business, you can start a personal chef business with as low as $2,000. This setup would be based on equipment already available at home. However, as you expand, you will have to buy or rent a commercial kitchen with professional equipment. 18 - Career Coaching Services Profit Margin - 30% Average Startup Cost - $11,992 With the recent layoffs and the Great Resignation, an increasing number of people will be looking for career coaching services. With this business, you can start on your own and expand in the future. 17 - Selling Hot Sauces Profit Margin - 30% Average Startup Cost - $7,000 Like candle making business, you can sell hot sauces directly to customers through a website or retail and convenience stores. According to Market Research Future, the global sauce market is projected to grow from $58.23 billion in 2023 to $89.37 billion by 2033, exhibiting a CAGR of 5.5%. 16 - Cookie Business Profit Margin - 30% Average Startup Cost - $6,825 According to Step by Step Business, you can get started with your cookie business for as low as $4,550. Some of the trends in the market include a shift towards healthy cookies and ready-to-bake products. 15 - Candle Making Business Profit Margin - 30% Average Startup Cost - $1,360 While the average startup cost of candle making business is $1,360, you can get started with $500. You can choose to sell your products through retail stores, or directly to the customer through platforms like Shopify Inc. (NYSE:SHOP). 14 - Baby or Pet Sitting Services Profit Margin - 33.70% Average Startup Cost - $3,075 The baby or pet-sitting services business is one of the low-cost businesses with high profit margins , but it comes with its own set of challenges. Gaining customer trust and building your brand is one of the challenges that you will need to overcome. In addition, you may also be required to work on weekends. 13 - Cloud Mining Business Profit Margin - 37% Average Startup Cost - $13,936 Cloud mining is profitable if you go for a trusted cloud mining service. One of the major currencies mined through cloud mining is Bitcoin. To learn more about Bitcoin mining, visit Top Trends Shaping Bitcoin Mining in 2023 . 12 - Dog Walking Business Profit Margin - 40% Average Startup Cost - $19,267 If you are passionate about dogs, the dog walking business is one of the low cost businesses with a high profit margin . Some of the startup costs you will incur include licensing and permits, marketing, and insurance. 11 - Airbnb Hosting Profit Margin - 40% Average Startup Cost - $18,308 The startup cost of starting an Airbnb hosting business will vary greatly depending on whether you are renting or buying a new property, or subletting your current residence. The business can be especially profitable if your Airbnb is near a tourist attraction. 10 - Healthy Snacks Business Profit Margin - 40% Average Startup Cost - $13,936 One of the trends in the food market is the shift toward healthy options. You can start a healthy snack business from your home and sell through a website. Alternatively, you utilize retail channels to sell your products. Focus on creating an original healthy snack mix to reap the most profit. 9 - Pet Grooming Profit Margin - 40% Average Startup Cost - $6,825 According to Fortune Business Insights, the global pet grooming and accessories market is projected to grow at a CAGR of 6.9% from 2023 to 2030. The market is valued at $72.5 billion and is expected to reach $116.23 billion by 2030. While the average cost of starting a pet grooming business is $6,825, you can get started with as low as $3,550. 8 - Cake Business Profit Margin - 40% Average Startup Cost - $4,500 The cake business is 8th on our list of low cost business ideas with high profit . If you want to set up a bakery or start a baked goods store, a cake business can provide an easy foot in the door. The healthy profit margin of 40% and low startup cost make it easier for new entrepreneurs to start this business. You can start this business from the comfort of your home, or rent out a commercial kitchen. Click to continue reading and see the 7 Low Cost Business Ideas with High Profit . Suggested Articles 25 Most Profitable Food Business Ideas 30 Most Profitable Businesses You Could Start in 2023 25 Profitable Home Business Ideas Disclosure: none. 30 Low Cost Business Ideas with High Profit is originally published on Insider Monkey', 'A fake Banksy NFT. Self-proclaimed crypto-gambling site dappGambl has published some research into the current state of the Non-Fungible Tokens (NFTs) market. The data it dug up reveals that 95% of these digital assets are now "worthless," which is a finding the site describes as "shocking." Interest in NFTs, and their valuations, were seemingly slingshotted off the back of the cryptocurrency boom . Perhaps they were the ultimate high-risk, high-reward crypto investment during the bubble, seeing nearly $2.8 billion in monthly trading volume during August 2021. With the spectacular rise of some NFT collections, the source asserts that NFTs were "the stars" among some crypto portfolios. However, while the biggest cryptocurrencies have retained respectable valuations, NFT valuations have crashed much harder. The most recent figures shared for NFT trading indicate a trading volume of only $80 million per week. dappGambl sourced its NFT data from NFT Scan and analyzed a mind-boggling 73,257 NFT collections before drawing its charts and conclusions. The most newsworthy conclusion is in our headline: the finding that the vast majority of NFTs are currently "worthless." It defines worthless as any NFT collection that has a market value of zero ETH (1 ETH = 1,600 today). 69,795 NFT collections are in this sorry situation, as are their owners. Some further analysis of the state of the NFT market revealed that 79% of all NFT collections have tokens that remain unsold. Moreover, there is "a significant imbalance" between NFT creation and demand at this time. It is a buyers\' market where a lack of "clear use cases, compelling narratives, or genuine artistic value" makes new and established collections unattractive to investors, suggests dappGambl\'s research. Today 41% of NFTs are priced at between $5 and $100, with just 1% commanding a valuation of over $6,000, according to the research data. However, things might be even worse than \'ticket prices\' indicate. One NFT collection, for example, had a floor price of >$13 million, which sounds very healthy. The problem with this collection is that its all-time sales tallied to just $18, noted dappGambl. Story continues OpenSea NFT marketplace The new research also looked at the environmental impact of the creation of NFTs. With NFT minting reliant on blockchain tech, it comes with some of the same scary power consumption figures that were associated with ETH and BTC mining. One of the most startling figures from this strand of the research is that a purported 195,699 NFT collections with no apparent owners or market share would have required 27,789,258 kWh to mint, resulting in about 16,243 metric tons of CO2 emissions. Despite the almost relentlessly bleak findings uncovered by dappGambl, it opines that "NFTs still have a place in our future." During the current NFT downturn, the source reckons "NFTs need to either be historically relevant , true art, or provide genuine utility." Of course, any of those factors is open to opinion / interpretation, but it provides a better framework than the anything-goes era of mid-2021.', 'A fake Banksy NFT. Self-proclaimed crypto-gambling site dappGambl has published some research into the current state of the Non-Fungible Tokens (NFTs) market. The data it dug up reveals that 95% of these digital assets are now "worthless," which is a finding the site describes as "shocking." Interest in NFTs, and their valuations, were seemingly slingshotted off the back of the cryptocurrency boom . Perhaps they were the ultimate high-risk, high-reward crypto investment during the bubble, seeing nearly $2.8 billion in monthly trading volume during August 2021. With the spectacular rise of some NFT collections, the source asserts that NFTs were "the stars" among some crypto portfolios. However, while the biggest cryptocurrencies have retained respectable valuations, NFT valuations have crashed much harder. The most recent figures shared for NFT trading indicate a trading volume of only $80 million per week. dappGambl sourced its NFT data from NFT Scan and analyzed a mind-boggling 73,257 NFT collections before drawing its charts and conclusions. The most newsworthy conclusion is in our headline: the finding that the vast majority of NFTs are currently "worthless." It defines worthless as any NFT collection that has a market value of zero ETH (1 ETH = 1,600 today). 69,795 NFT collections are in this sorry situation, as are their owners. Some further analysis of the state of the NFT market revealed that 79% of all NFT collections have tokens that remain unsold. Moreover, there is "a significant imbalance" between NFT creation and demand at this time. It is a buyers\' market where a lack of "clear use cases, compelling narratives, or genuine artistic value" makes new and established collections unattractive to investors, suggests dappGambl\'s research. Today 41% of NFTs are priced at between $5 and $100, with just 1% commanding a valuation of over $6,000, according to the research data. However, things might be even worse than \'ticket prices\' indicate. One NFT collection, for example, had a floor price of >$13 million, which sounds very healthy. The problem with this collection is that its all-time sales tallied to just $18, noted dappGambl. Story continues OpenSea NFT marketplace The new research also looked at the environmental impact of the creation of NFTs. With NFT minting reliant on blockchain tech, it comes with some of the same scary power consumption figures that were associated with ETH and BTC mining. One of the most startling figures from this strand of the research is that a purported 195,699 NFT collections with no apparent owners or market share would have required 27,789,258 kWh to mint, resulting in about 16,243 metric tons of CO2 emissions. Despite the almost relentlessly bleak findings uncovered by dappGambl, it opines that "NFTs still have a place in our future." During the current NFT downturn, the source reckons "NFTs need to either be historically relevant , true art, or provide genuine utility." Of course, any of those factors is open to opinion / interpretation, but it provides a better framework than the anything-goes era of mid-2021.']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-23
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $518,606,404,200
- Hash Rate: 442953295.7870514
- Transaction Count: 629617.0
- Unique Addresses: 882768.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.47
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: The FTSE 100 index narrowly avoided its lowest close of the year after a grim week for global stock markets.
London’s top flight fell again by 0.7% today, leaving it down by 3.5% since Monday as worries mount globally over higher-for-longer interest rates. It has lost 350 points over the course of a six-day losing streak.
For much of the day, the index appeared set for the lowest close since November 2023, but it rallied slightly in the last hour of trading.
Rising borrowing costs have added to pressure on the retail sector, resulting intoday’s 1.2% fall in sales during washout July.
• Blue-chip index on course to close at 2023 low
• Retail sales fall sharply in July
• Great Portland in £70m Soho Square deal
Friday 18 August 2023 16:38,Daniel O'Boyle
A late rally helped the FTSE 100 close at 7,262.43 today, less than seven points more than its lowest close of the year.
The index fell as low as 7220, but rallied in the last hour before markets closed in London.
However, it was still down 0.7% today, and in its longest losing streak since 2020.
Airtel Africa and RS Group were among the biggest fallers.
Friday 18 August 2023 16:28,Daniel O'Boyle
The FTSE 100 has picked up from its lows and appears set to avoid the lowest close of the year.
However, the index is still down 0.6% today, and set for its sixth consecutive day of declines.
It is currently at 7,265.34, nine points ahead of the lowest close it reached this year, in July.
Friday 18 August 2023 16:26,Daniel O'Boyle
Councils and police are being urged to “turn a blind eye” to pubs opening early for the women’s football World Cup final.
MPs have called on the authorities to ignore instances of publicans serving outside of their usual Sunday hours, after warnings that licensing rules mean leave some venues unable to serve pints or open early for excited fans on the day.
In Cornwall, the local council and police have already announced they will not take enforcement action for early opening during the big match.
Read more here
Friday 18 August 2023 16:02,Daniel O'Boyle
The biggest official fuel producer in the North Sea will present its results next week, with investors likely keen to know more about its plans for the future and the impacts of the windfall tax.
Harbour Energy has been complaining about its UK tax bill since the Government introduced a special charge for energy companies as prices soared following Russia’s full-scale assault on Ukraine.
The company said in March that its profit had been “all but wiped out” by the windfall tax. But that was based on writing off last year’s profit against what the company expects to pay over the five-year period of the tax, a move that brought criticism at the time.
Read more here
Friday 18 August 2023 15:47,Daniel O'Boyle
Wall Street shares have started the day lower, following Asia and Europe down.
The S&P 500 is down 0.3% to 4,356.29, while the Dow Jones is down 0.1% at 34,436.86. The tech-led Nasdaq index is down 0.6%, to 13,235.35.
Big risers included retailers ROss Stores, Dollar Generaland Walmart. Fallers include tech beghemoths Nvidia, Meta and Alphabet.
Friday 18 August 2023 15:09,Daniel O'Boyle
The amount that an average household is expected to pay for its energy bills will fall by around £150 per year from the start of October, according to a new forecast.
Ofgem’s next price cap, which will be announced on Friday next week, will drop to around £1,925, according to the latest forecast from Cornwall Insight, an energy consultancy.
It is a reduction of 7%, and the lowest the cap has been since March 2022.
Read more here
Friday 18 August 2023 14:31,Daniel O'Boyle
The boss of offices giant IWG said “more and more workers want to live in a 15-minute city”, as the firm’s Regus arm announced a new flexible 5,500 sq ft workspace in Battersea.
The business said the new office is part of a “series” of 15-minute cities that IWG is establishing across London, and comes just days after it reported a surge in demand for workspace in the suburbs, as demand in typically popular locations like the City cools. IWG hopes to add as many of 1,000 new locations to its network this year to serve the growing number of hybrid workers in the capital.
The Battersea office is set to open in the fourth quarter of the year
Read more here
Friday 18 August 2023 13:45,Daniel O'Boyle
The FTSE 100 has fallen even further today, and is now down more than 80 points, or 1.1%, at 7,229.00.
That brings it close to the lowest it has reached all year, when it fell to 7206 on 20 March amid fears about the global banking sector, before rebounding later that day.
The index has now lost nearly 400 points in the space of just six trading days.
Big fallers today include RS Group, Airtel Africa and Antofagasta. British American Tobacco is the only FTSE 100 firm to rise by more than 0.5%.
Friday 18 August 2023 13:37,Daniel O'Boyle
Deliveroo customers can now enjoy champagne with their kebab or prosecco with their pizza under new order options introduced on its app.
The feature, which is to be made available to customers across the UK following a trial phase in London, allows app users to combine takeaway food with grocery shopping in a single order.
Deliveroo said the new functionality was introduced after data showed large numbers of customers ordered restaurant food and supermarket essentials within a few minutes of each other.
Read more here
Friday 18 August 2023 13:15,Jonathan Prynn
If some of the recent reports are to be believedOxford Streethas been reduced to a Mad Max-style dystopia where feral criminal gangs smash store windows at will and tacky Candy stores fill virtually every retail unit from Marble Arch to Centre Point.
The truth is very different as our report today shows. There is no doubt that the 1.2 mile-long canyon of consumerism has had a tough time since 2020 and it is looking a little battered. There are certainly too many candy stores, although firm action being taken by Westminster council should thin their ranks.
But there is investment too. Today’s encouraging figures from CBRE show there is no shortage of retailers hoping to open new space on Europe’s busiest shopping street, which still has a vitality unmatched nearly anywhere else in the world.
Read more here
Friday 18 August 2023 12:26,Simon Hunt
Halfway through the day’s trading session in London, the FTSE 100 has slipped further and is now down 0.8%.
Here’s a look at your key market data.
Friday 18 August 2023 11:55,Daniel O'Boyle
Train drivers are to stage a fresh strike next month amid their long-running dispute over pay, threatening more travel chaos for passengers.
Members of union Aslef will walk out on September 1 and will ban overtime on September 2 - the same day as a strike by the Rail, Maritime and Transport union (RMT).
Announcing the strike on Friday, Aslef said its walk-out will force train companies across England to cancel all services, while the ban on overtime will “seriously disrupt” the network.
Read more here
Friday 18 August 2023 11:15,Daniel O'Boyle
Oxford Street was given a big boost earlier as figures showed retailers are queuing up to open new stores there, with more than 100,000 sq ft of deals in advanced negotiations.
After a challenging three and a half years for the famous shopping destination since the start of the pandemic —not helped by disruption last week when some social media videos urged people to turn up and cause disorder — the research shows that space there is still in hot demand.
Property consultancy CBRE found there are at least 10 stores under offer in Oxford Street. Firms set to sign leases are in a variety of retail sectors including fashion, tech and food and beverage.
Read more here
Friday 18 August 2023 10:31,Graeme Evans
The FTSE 100 index is in danger of setting its lowest close of the year after falling 1% or 71.77 points to 7,238.44.
London’s top flight is on a six session losing run that has cost the benchmark more than 250 points since Monday and 6% across August.
Today’s mood wasn’t helped by the crisis in China’s debt-laden property sector after Evergrande last night filed for bankruptcy protection in the United States.
The Hang Seng index in Hong Kong closed 2% lower and is now down by more than 10% this year amid China’s disappointing economic recovery.
On Wall Street, the recent optimism over a soft landing for the US economy has been punctured by signs the Federal Reserve is not yet done raising interest rates.
The speculation yesterday pushed the US 10-year Treasury yield, which is used as a benchmark for global borrowing costs, to its highest daily close in 15 years.
Traders fear the uncertainty could continue for another week until Federal Reserve chair Jerome Powell addresses the Jackson Hole symposium next Friday.
The S&P 500 index and Nasdaq Composite closed around 1% lower last night, a performance that set the FTSE 100 index towards a nine-month low.
Big fallers in London include the mining stocks Antofagasta and Anglo American, down by 3% as traders revised expectations for China demand.
Other big fallers included the luxury goods group Burberry, which has lost more than 4% of its value in the past week and today dropped another 48p to 2137p.
BAE Systems put back 7p to 962.8p after falling 4% yesterday on jitters over the £4.4 billion deal for Colorado-based Ball Aerospace, a move that will boost the UK company’s capabilities in spacecraft and missile development.
The bleak mood was mirrored in the UK-focused FTSE 250 index, which fell 1% or 188.87 points to 18,167.20. Stocks down by more than 2% included the US-focused retailer WH Smith, National Express owner Mobico and the property firm British Land.
Friday 18 August 2023 09:56,Daniel O'Boyle
A Qatari sheikh, whose son is fronting a bid for Manchester United Football Club, is mulling the sale of two luxury houses in London’s most exclusive districts with a combined asking price of £370 million.
Sheikh Hamad bin Jassim bin Jaber Al Thani is potentially planning to sell a triplex penthouse at the One Hyde Park project in London’s upscale Knightsbridge district for about £220 million, as well as a property he owns nearby at Belgrave Square for about £150 million, according to people familiar with the matter.
Sheikh Hamad may decide against a sale if offers fall short of the asking price, the people said. Efforts to reach the royal for comment through his private investment firm Al Mirqab Capital and several family members were unsuccessful.
Read more here
Friday 18 August 2023 09:32,Daniel O'Boyle
The future of Irish companies in the City was in focus today, as building materials firm Kingspan officially delisted from the London Stock Exchange.
Kingspan was one of three Irish companies to deliver a blow to London in the space of two months, joining rival building supplies firm CRH and betting giant Flutter when it announced plans to delist in April.
The business faced widespread criticism for supplying 5% of the insulation used at Grenfell Tower. The public inquiry into the Grenfell fire heard Kingspan’s K15 product became a “raging inferno” in internal tests. Kingspan says K15 was “misused” in an unsafe manner at the tower, and noted that the inquiry said the exterior cladding provided by other firms was “the principal reason” the fire spread.
Today, Kingspan also revealed its profits ticked up in the first half of the year, to €435.5 million £372.2 million) despite high interest rates deterring construction. It said it expects to see deflation in the costs of building materials during this quarter.
The shares continue to trade in Dublin, where they are down 3.5%.
Friday 18 August 2023 09:17,Daniel O'Boyle
The GMB union, which represents around a third of Wilko’s 12,000 staff, reassured staff and confirmed that administrators were weighing multiple bids to save the retailer,as reported in the Standard yesterday.
Andy Prendergast, GMB national secretary, said: “GMB has met with administrators and the company as part of the formal consultation process.
“We can confirm there have been expressions of interest from organisations who are considering taking over at least some parts of the business.
“These are still at an early stage, but means there are genuine grounds for hope.
“Whilst this process continues staff will continue to be paid and kept on. All stores are continuing to trade, and deliveries of new stock will continue.”
It is not expected that any firm will by the entirety of Wilko, but there is hope that a number of the more profitable stores can be saved.
Friday 18 August 2023 09:12,Daniel O'Boyle
One in three London homeowners say they will struggle to meet their mortgage payments in the next six months, new polling reveals.
The survey, conducted by YouGov and commissioned by City Hall, showed that 11 per cent of the capital’s mortgage payers think they will “definitely” struggle to keep up with payments and a further 23 per cent will “probably” struggle.
The combined total of 34 percent saying they expect to struggle is up from 21 per cent in January.
Read more here
Friday 18 August 2023 08:34,Graeme Evans
The London market’s run of losses rolled into a sixth session today as the FTSE 100 index fell another 28.10 points to 7,282.11, taking the deficit for this week to 244 points.
Stocks in the red included Rolls-Royce, which fell 2.45p to 199.95p, and the luxury goods group Burberry after a decline of 26p to 2159p.
BAE Systems rose 4.6p to 960.4p after shares fell heavily yesterday on jitters over the scale of the £4.4 billion acquisition of Colorado-based Ball Aerospace.
The FTSE 250 index fell 0.5% or 97.05 points to 18,259.02, with cyber security firm Darktrace and National Express owner Mobico among the stocks 2% lower.
Friday 18 August 2023 08:31,Daniel O'Boyle
Bad retail sales in July were mostly driven by bad weather, but also represent weakening appetite for consumer spending, Capital Economics deputy chief UK economist Ruth Gregory said.
“The 1.2% m/m fall in retail sales volumes in July probably had more to do with the unusually wet weather than the impact of higher interest rates on consumer spending,” she said. “But with the Bank of England’s interest rate hikes still feeding through and consumer confidence falling, we remain downbeat on the outlook for overall spending this year.
“Overall, the figures were a bit worse than we had expected. And our view is still that the growing drag on activity from higher interest rates will eventually generate a 0.5% peak to trough fall in real consumer spending.”
Friday 18 August 2023 08:20,Simon Hunt
A few minutes into the day’s trading session in London, the FTSE has opened lower, while Bitcoin has fallen 5% since yesterday.
Here’s a look at your key market data:
Friday 18 August 2023 08:06,Daniel O'Boyle
High-end cinema chain Everyman’s revenue and profits fell in the first half of the year, but it said the joint releases of Barbie and Oppenheimer on 21 July boosted sales and shows “cinema remains as relevant as ever”.
The cinema - known for its comfortable seats and food options like pizza and hot honey halloumi - brought in revenue of £38.3 million in the six months to 30 June, down slightly from 2022. Profit, meanwhile, fell by 22.7% to £5.8 million.
But things pickwed up in July, which the business put down to ‘Barbenheimer’, which drove a record week for admissions. Revenue for the month came to £10.6 million, while profit doubled July 2022’s total at £2.6 million.
Read more here
Friday 18 August 2023 07:55,Simon Hunt
Property group Great Portland Estates has acquired land in London’s Soho Square in a £70 million deal.
The company has bought the freehold interests at 16/19 Soho Square, 29/43 Oxford Street and 7 Falconberg Mews from Belgravia & Chelsea Property Services.
The deal values the properties at £772 per square foot and includes planning permission to demolish some buildings and construct up to 90,000 square foot of office and retail space.
Alexa Baden-Powell, Senior Investment Manager, said, "This acquisition represents a fantastic opportunity for us to develop a strategic West End freehold site into a best-in-class headquarters building with excellent sustainability credentials."
Friday 18 August 2023 07:47,Daniel O'Boyle
People and businesses should be no more than three miles away from the ability to withdraw or deposit cash under plans set out by the Treasury.
The financial services watchdog will be given the power to fine banks and building societies which fail to maintain standards on protecting access to cash.
Treasury Economic Secretary Andrew Griffith said cash had “an important and continuing role to play” despite the shift away from reliance on coins and notes.
Read more here
Friday 18 August 2023 07:13,Graeme Evans
The FTSE 100 index is set for another session in the red after Wall Street closed sharply lower last night and selling pressure continued during Asia trading hours.
Sentiment has been hit by concerns over China’s property sector and the prospect that interest rates are likely to stay higher for longer in the US and elsewhere.
Wall Street declined for the third consecutive session as the S&P 500 index and the Dow Jones Industrial Average lost 0.8% and the Nasdaq Composite fell by 1.2%.
The declines came as the US 10-year Treasury yield, which is used as a benchmark for global borrowing costs, posted its highest daily close since 2008.
In Asia, the Hang Seng index is 1.4% lower after it emerged that developer Evergrande had filed for bankruptcy protection in the United States.
The FTSE 100 index closed 0.6% lower last night and is down by around 5% in August, the majority of this decline coming in the past week. CMC Markets expects the top flight to open another 25 points lower at 7285.
Friday 18 August 2023 07:02,Daniel O'Boyle
UK retail sales fell by -1.2%, as some of the wettest July weather in history and the impact of higher interest rates put customers off the high street.
Sales had been expected to decline, by 0.5%, after a strong June in which sales climbed, due to the heavy rainfall during the month. But the fall was much worse than expected, suggesting that higher interest rates and continuing inflation are having a notable effect as well.
Josh Graham, Co-Founder and Chief Marketing Officer at Airtime Rewards, said: “Today’s retail sales figures show that shoppers are prioritising financial resilience over spending, as rising interest rates prompt them to tighten their purse strings. Add to this the wet weather which dampened demand for summer clothing, and it’s hardly surprising we’ve seen retail figures slump. Our own data shows that spending in July was down 10%, with bars and offline clothing impacted most notably.
“Stubbornly high inflation and rising interest rates are testing consumers’ ability to spend, and retailers must brace themselves for scarcer spending. Having a clear value proposition that focuses on the wants and needs of customers, as well as a multi-channel approach, will be critical to attracting and retaining shoppers.”
Friday 18 August 2023 06:52,Simon Hunt
Good morning. Here’s a summary of our headlines from yesterday.
• BAE Systems swoops on NASA contractor Ball Aerospace in $5.55 billion deal
• Rank hit by slow return of Middle Eastern and Asian high rollers to London casinosand shortage of croupiers after Brexit
• Last chance saloon for Wilko as deadline for rescue bidders passes
• Specialist student accommodation provider Empiric Student Property says its rooms are 98% full for next academic year amid shortage
• And finally, aLondon-based vertical farm company is seeking to raise as much as £60 million....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Digital assets tentatively sold off this week in response to the Federal Reserve indicating another rate hike may come this year, despite deciding to keep interest rates steady on Wednesday. Projections released by the central bank show median rates of 5.6% before year\x92s end, up from the current range of 5.25% to 5.5%. The suggested hike garnered support from 12 Federal Reserve officials and opposition from 9. Fed Projections (September vs June) \x93We want to see convincing evidence really that we have reached the appropriate level, and we\x92re seeing progress, and we welcome that,\x94 Fed chair Jerome Powell told reporters at a press conference following the decision. \x93But, you know, we need to see more progress before we\x92ll be willing to reach that conclusion.\x94 According to CoinMarketCap, $30B was wiped from the combined capitalization of crypto assets, which now sits at $1.05T following the 3% retracement. BTC has since dropped 2.5%, and ETH is down 3% after both assets regained 1% in the past 24 hours. Quarterly Options Set To Expire September\x92s close will also coincide with the expiry of $3B worth of quarterly BTC options and $1.8B in contracts tracking Ether. Luuk Strijers, the chief commercial officer at crypto options exchange Deribit, told The Defiant that quarterly contracts are typically \x93the most significant in terms of volume and value,\x94 estimating institutions represent 85% of activity. However, Strijers said he does not expect to see \x93strong market moves in the coming week\x94 based on the current positioning of market participants. On-chain Activity Drops September has been the weakest month for Ethereum\x92s on-chain activity this year. According to Ultra Sound Money, more than 13,000 ETH ($21M) was added to Ether\x92s supply since the month began \x97 meaning Ethereum\x92s burn mechanism failed to offset new ETH entering supply as rewards for validators amid the slump in activity. ETH Supply Change The low activity has been attributed to the prolonged downturn in the NFT market and the buzz surrounding memecoins dying down. Story continues However, the retracement in on-chain also coincides with Layer 2 transaction throughput setting new highs multiple times in recent weeks. Ethereum\x92s L2 ecosystem processed an average of 64.2 transactions per second (TPS) on Sept. 14, compared to 12.4 TPS on the Ethereum mainnet. L2 Activity Chart Read the original post on The Defiant', 'Digital assets tentatively sold off this week in response to the Federal Reserve indicating another rate hike may come this year, despite deciding to keep interest rates steady on Wednesday.\nProjectionsreleased by the central bank show median rates of 5.6% before year’s end, up from the current range of 5.25% to 5.5%. The suggested hike garnered support from 12 Federal Reserve officials and opposition from 9.\n“We want to see convincing evidence really that we have reached the appropriate level, and we’re seeing progress, and we welcome that,” Fed chair Jerome Powelltoldreporters at a press conference following the decision. “But, you know, we need to see more progress before we’ll be willing to reach that conclusion.”\nAccording to CoinMarketCap,$30Bwas wiped from the combined capitalization of crypto assets, which now sits at $1.05T following the 3% retracement. BTC has since dropped 2.5%, and ETH is down 3% after both assets regained 1% in the past 24 hours.\nSeptember’s close will also coincide with the expiry of $3B worth of quarterly BTC options and $1.8B in contracts tracking Ether.\nLuuk Strijers, the chief commercial officer at crypto options exchange Deribit, told The Defiant that quarterly contracts are typically “the most significant in terms of volume and value,” estimating institutions represent 85% of activity.\nHowever, Strijers said he does not expect to see “strong market moves in the coming week” based on the current positioning of market participants.\nSeptember has been the weakest month for Ethereum’s on-chain activity this year.According to Ultra Sound Money, more than 13,000 ETH ($21M) was added to Ether’s supply since the month began — meaning Ethereum’s burn mechanism failed to offset new ETH entering supply as rewards for validators amid the slump in activity.\nThe low activity has been attributed to the prolonged downturn in the NFT market and the buzz surrounding memecoins dying down.\nHowever, the retracement in on-chain also coincides with Layer 2 transaction throughput settingnew highsmultiple times in recent weeks. Ethereum’s L2 ecosystem processed an average of 64.2 transactions per second (TPS) on Sept. 14, compared to 12.4 TPS on the Ethereum mainnet.\nRead the original post on The Defiant', "In this article, we will be taking a look at the 20 most searched cryptocurrencies in 2023. If you want to skip our detailed analysis of the cryptocurrency market, you can go directly to see 5 Most Searched Cryptocurrencies in 2023 . The Cryptocurrency Market Boom Cryptocurrency is a founding stone that brought the evolution of blockchain technology and then led to the emergence of Non-Fungible Tokens (NFTs), Web3, and the metaverse. A big milestone for the cryptocurrency market was achieved when Bitcoin (BTC) touched the $1,000 mark on November 27, 2013. Earlier in 2013, Bitcoin (BTC) was added as a word to the Oxford English Dictionary, which defined Bitcoin as “a digital currency in which transactions can be performed without the need for a central bank.” Bitcoin (BTC) started to get wider recognition worldwide when the price of BTC almost touched $20,000 in December 2017. The 2017 cryptocurrency market boom changed everything in the world of digital currency. The crypto bull market started in May 2017, when Bitcoin’s price soared over $2,000 for the first time and crossed $3,000 just a few weeks later. At that time, the market forces also showed subsequent turbulence, including BTC’s price dropping by $300 within one hour of the trading session on June 12, 2017. However, the market forces kept the Bitcoin price on the rise. Perhaps one of the major developments was the Wall Street analysts entering the BTC price analysis game. Goldman Sachs analyst Sheba Jafari predicted Bitcoin to cross $3,600 which further led to forecasts from other notable analysts. Bitcoin reached the $20,000 price mark on December 17, 2017, making history in the cryptocurrency market. A few days later, a drop of 30% wiped off billions of dollars from the total cryptocurrency market capitalization, making it one of the biggest market corrections in history. Since then, cryptocurrency has been a highly volatile market with massive pumps and dumps, subsequently. Story continues Crypto Market Outlook If we look at the one-year movement of Bitcoin (BTC), the crypto deity is following an upward trend. The crypto market follows the trend of Bitcoin as it still leads the market sentiment. On August 25, Bloomberg reported that JPMorgan Chase & Co. (NYSE:JPM) analyst Nikolaos Panigirtzoglou mentioned that there is some positive sentiment building around the crypto market based on open interest in CME Bitcoin futures contracts. Based on that, Panigirtzoglou believes that there is a limited downside for crypto markets over the near term. Bitcoin (BTC) continues to trade at about 60% above since the start of 2023, surpassing other well-performing assets like technology stocks . Bitcoin (BTC) is trading at around the $26,700 price mark, as of 6:23 a.m. Eastern Time on September 21. At the same time, BTC is almost up by 40% over the last 12 months. Ethereum (ETH), the second largest crypto asset, is trading at $1,608, up by 20% over the last 12 months. The total cryptocurrency market capitalization on coinmarketcap.com stands at $1.06 trillion, with Bitcoin’s dominance of 49.2% and Ethereum’s dominance of 18.3%, at the time of writing on September 21. The cryptocurrency market has continuously grown despite the regulatory and market upheavals. Crypto is getting more adoption with its existence in the NFTs, Web3, and the metaverse. According to a study from IMARC Group , the global cryptocurrency market size touched $2 trillion in 2022 and it is expected to reach $4 trillion by 2028, growing at a compound annual growth rate of 11.7% between 2023 and 2028. Cryptocurrency for Businesses Today, cryptocurrencies are widely used for business and merchant payments. According to Deloitte , 2,353 U.S. businesses accept Bitcoin, as per an estimate in late 2022. That excludes the use of Bitcoin ATMs. Global companies are also accepting the use of Bitcoin and other top currencies for investment, operational, and transactional purposes. Some of the leading companies that accept Bitcoin (BTC) and other crypto assets include PayPal Holdings, Inc. (NASDAQ:PYPL), Visa Inc. (NYSE:V), Mastercard Incorporated (NYSE:MA), and Tesla, Inc. (NASDAQ:TSLA) - to name a few. For instance, Elon Musk has an immense involvement in the crypto market. Musk has been a great admirer of cryptocurrencies and his companies hold a large portion of Bitcoins. As of the second quarter of 2023, Tesla, Inc. (NASDAQ:TSLA) held digital assets worth $184 billion, which has remained the same for the past three quarters. Apart from that, the world’s largest asset management firm BlackRock, Inc. (NYSE:BLK) has filed for a Bitcoin spot exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). The SEC has delayed the ruling until the start of 2024. If BlackRock, Inc. (NYSE:BLK) gets the regulatory approval for a Bitcoin spot exchange-traded fund (ETF), it will become the first company to hold the first crypto spot ETF in the U.S. The crypto industry has created new spaces for companies to enter the market such as crypto exchanges, exchange-traded funds (ETFs), crypto mining, crypto wallets, crypto lending, smart contract platforms, and crypto ATMs, among others. Cryptocurrency exchanges have played a great role in taking digital assets to the masses, helped by crypto payment platforms. According to coinmarketcap.com , the three largest cryptocurrency exchanges by volume include Binance, Coinbase Global, Inc. (NASDAQ:COIN), and Kraken. Coinbase Global, Inc. (NASDAQ:COIN) has a large audience in the U.S. market. Being one of the largest crypto exchanges in the world, Coinbase Global, Inc. (NASDAQ:COIN) has created a massive impact on the adoption of cryptocurrencies. On September 19, Coinbase Global, Inc. (NASDAQ:COIN) announced that it has initiated a campaign asking crypto users to reach out to their Congressional representatives to advocate for cryptocurrency legislation. According to Coinbase Global, Inc., almost 52 million Americans own crypto assets, which means every 1 in 5 adults own a crypto asset. The United States is among the leading countries with the highest adoption of cryptocurrency ownership . On September 6, Coindesk reported that Coinbase Global, Inc. (NASDAQ:COIN) along with Framework Ventures has invested $5 million in Socket, a protocol aiming to enhance blockchain communication. Coinbase Global, Inc. (NASDAQ:COIN) shares have soared by almost 110% year-to-date, as of September 21. Moving forward, PayPal Holdings, Inc. (NASDAQ:PYPL) has been a notable company in the crypto space. On August 7, PayPal Holdings, Inc. (NASDAQ:PYPL) announced its U.S. dollar-pegged stablecoin called PayPal USD (PYUSD). Consumers can buy, sell, hold, and transfer PYUSD using PayPal Holdings, Inc. (NASDAQ:PYPL) payment platform. Now that we have discussed what is happening in the crypto market, let's take a look at the 20 most searched cryptocurrencies in 2023. 20 Most Searched Cryptocurrencies in 2023 Pixabay/Public Domain Our Methodology For our methodology, we sourced the 50 cryptocurrencies with the highest trading volume as of September 23. We then checked their global search volumes on Semrush, a well-known digital marketing agency and keyword insights website. We then shortlisted the top 20 cryptocurrencies with the highest global search volumes on Semrush and ranked them in ascending order of their search volumes. In the case of two cryptocurrencies having the same search volume, we ranked them based on their trading volume. Here is the list of the 20 most searched cryptocurrencies in 2023. 20 Most Searched Cryptocurrencies In 2023 20. Monero (XMR) Global Search Volume on Semrush: 146,600 Market Trading Volume (September 23, 2023): $38.32 Million Launched in 2014, Monero (XMR) became famous as a privacy coin in the crypto market. With a market capitalization of $2.6 billion, as of September 23, Monero (XMR) ranks among the most searched cryptocurrencies in 2023. Companies that are making strides in the crypto industry include PayPal Holdings, Inc. (NASDAQ:PYPL), Coinbase Global, Inc. (NASDAQ:COIN), and BlackRock, Inc. (NYSE:BLK). 19. Dai (DAI) Global Search Volume on Semrush: 157,5 00 Market Trading Volume (September 23, 2023): $115 Million Issued by Maker Protocol, Dai (DAI) is an Ethereum-based stablecoin. Dai (DAI) has a market capitalization of $5.3 billion, as of September 23, and ranks 19th on our list of the most searched cryptocurrencies in 2023. 18. Aave (AAVE) Global Search Volume on Semrush: 196,400 Market Trading Volume (September 23, 2023): $64 Million Aave (AAVE) offers an open-source liquidity protocol to create non-custodial liquidity markets. Having a market capitalization of $914 million, as of September 23, Aave (AAVE) makes it to our list of the most searched cryptocurrencies in 2023. 17. Polkadot (DOT) Global Search Volume on Semrush: 201,300 Market Trading Volume (September 23, 2023): $62.7 Million One of the most prominent crypto projects, Polkadot (DOT) has a market capitalization of $5 billion. Polkadot (DOT) is one of the most searched cryptocurrencies in 2023, as of September 23. 16. Curve DAO Token (CRV) Global Search Volume on Semrush: 248,200 Market Trading Volume (September 23, 2023): $76 Million Curve DAO Token (CRV) makes it to our list of the most searched cryptocurrencies in 2023. Curve DAO Token (CRV) has a market capitalization of $413 million, as of September 23. 15. Tether USDt (USDT) Global Search Volume on Semrush: 249,100 Market Trading Volume (September 23, 2023): $13.3 Billion Tether USDt (USDT) is the biggest stablecoin pegged against the US dollar. Tether USDt (USDT) has a market capitalization of $83 billion, as of September 23, and makes it to our list of the most searched cryptocurrencies in 2023. 14. Litecoin (LTC) Global Search Volume on Semrush: 274,900 Market Trading Volume (September 23, 2023): $242 Million Litecoin (LTC) is also known as the privacy coin. The digital coin has a market capitalization of $4.68 billion, as of September 23. Ranked 14th on our list, Litecoin (LTC) is one of the most searched cryptocurrencies in 2023. 13. Solana (SOL) Global Search Volume on Semrush: 281,900 Market Trading Volume (September 23, 2023): $129 Million One of the most prominent crypto projects, Solana (SOL) has a market capitalization of $8.03 billion, as of September 23. Solana (SOL) is one of the most searched cryptocurrencies in 2023. 12. Uniswap (UNI) Global Search Volume on Semrush: 296,800 Market Trading Volume (September 23, 2023): $44 Million Uniswap (UNI) is one of the rising cryptocurrencies in the market that has gained attention in recent years. The digital coin has a market capitalization of $2.4 billion, as of September 23 . Ranked 12th on our list, Uniswap (UNI) makes it to our list of the most searched cryptocurrencies in 2023. 11. TRON (TRX) Global Search Volume on Semrush: 353,800 Market Trading Volume (September 23, 2023): $135 Million One of the most prominent crypto projects, TRON (TRX) has a market capitalization of $7.42 billion, as of September 23. TRON (TRX) ranks among the most searched cryptocurrencies in 2023. 10. BNB (BNB) Global Search Volume on Semrush: 410,600 Market Trading Volume (September 23, 2023): $230 Million BNB (BNB) is a project of the world’s largest crypto exchange by volume, Binance. BNB (BNB) has a market capitalization of $32.37 billion, as of September 23, and makes it to our list of the most searched cryptocurrencies in 2023. 9. Cardano (ADA) Global Search Volume on Semrush: 449,200 Market Trading Volume (September 23, 2023): $89 Million Cardano (ADA) is one of the biggest cryptocurrencies in the world and has a market capitalization of $8.71 billion, as of September 23. Cardano (ADA) ranks among the most searched cryptocurrencies in 2023. 8. EOS (EOS) Global Search Volume on Semrush: 563,900 Market Trading Volume (September 23, 2023): $53 Million EOS (EOS) remains an attractive coin for crypto users. Ranked 8th on our list, EOS (EOS) has a market capitalization of $640 million, as of September 23, and ranks among the most searched cryptocurrencies in 2023. 7. Dogecoin (DOGE) Global Search Volume on Semrush: 690,400 Market Trading Volume (September 23, 2023): $121 Million Famously known as the meme coin , Dogecoin (DOGE) is one of the favorite digital assets of billionaire Elon Musk. Dogecoin (DOGE) has a market capitalization of $8.69 billion, as of September 23, and ranks seventh on our list of the most searched cryptocurrencies in 2023. 6. Polygon (MATIC) Global Search Volume on Semrush: 690,400 Market Trading Volume (September 23, 2023): $146 Million Polygon (MATIC) is one of the most famous digital assets in the world. Polygon (MATIC) has a market capitalization of $4.91 billion, as of September 23, and ranks among the most searched cryptocurrencies in 2023. Some of the most prominent companies making investments in the cryptocurrency market include PayPal Holdings, Inc. (NASDAQ:PYPL), Coinbase Global, Inc. (NASDAQ:COIN), and BlackRock, Inc. (NYSE:BLK). Click to continue reading and see 5 Most Searched Cryptocurrencies in 2023 . Suggested Articles: 15 Best Affordable Stocks To Buy Under $5 20 Countries that Use Crypto and Bitcoin the Most 11 Best Airline Stocks to Invest In Right Now Disclosure: None. 20 Most Searched Cryptocurrencies in 2023 is originally published on Insider Monkey.", "In this article, we will be taking a look at the 20 most searched cryptocurrencies in 2023. If you want to skip our detailed analysis of the cryptocurrency market, you can go directly to see5 Most Searched Cryptocurrencies in 2023.\nCryptocurrency is a founding stone that brought the evolution of blockchain technology and then led to the emergence of Non-Fungible Tokens (NFTs), Web3, and the metaverse. A big milestone for the cryptocurrency market was achieved when Bitcoin (BTC) touched the $1,000 mark on November 27, 2013. Earlier in 2013, Bitcoin (BTC) was added as a word to the Oxford English Dictionary, which defined Bitcoin as“a digital currency in which transactions can be performed without the need for a central bank.”Bitcoin (BTC) started to get wider recognition worldwide when the price of BTC almost touched $20,000 in December 2017. The 2017 cryptocurrency market boom changed everything in the world of digital currency.\nThe crypto bull market started in May 2017, when Bitcoin’s price soared over $2,000 for the first time and crossed $3,000 just a few weeks later. At that time, the market forces also showed subsequent turbulence, including BTC’s price dropping by $300 within one hour of the trading session on June 12, 2017. However, the market forces kept the Bitcoin price on the rise. Perhaps one of the major developments was the Wall Street analysts entering the BTC price analysis game. Goldman Sachs analyst Sheba JafaripredictedBitcoin to cross $3,600 which further led to forecasts from other notable analysts. Bitcoin reached the $20,000 price mark on December 17, 2017, making history in the cryptocurrency market. A few days later, a drop of 30% wiped off billions of dollars from the total cryptocurrency market capitalization, making it one of the biggest market corrections in history. Since then, cryptocurrency has been a highly volatile market with massive pumps and dumps, subsequently.\nIf we look at the one-year movement of Bitcoin (BTC), the crypto deity is following an upward trend. The crypto market follows the trend of Bitcoin as it still leads the market sentiment. On August 25, Bloombergreportedthat JPMorgan Chase & Co. (NYSE:JPM) analyst Nikolaos Panigirtzoglou mentioned that there is some positive sentiment building around the crypto market based on open interest in CME Bitcoin futures contracts. Based on that, Panigirtzoglou believes that there is a limited downside for crypto markets over the near term.\nBitcoin (BTC) continues to trade at about 60% above since the start of 2023, surpassing other well-performing assets liketechnology stocks. Bitcoin (BTC) is trading at around the $26,700 price mark, as of 6:23 a.m. Eastern Time on September 21. At the same time, BTC is almost up by 40% over the last 12 months. Ethereum (ETH), the second largest crypto asset, is trading at $1,608, up by 20% over the last 12 months. The total cryptocurrency market capitalization on coinmarketcap.com stands at $1.06 trillion, with Bitcoin’s dominance of 49.2% and Ethereum’s dominance of 18.3%, at the time of writing on September 21.\nThe cryptocurrency market has continuously grown despite the regulatory and market upheavals. Crypto is getting more adoption with its existence in the NFTs, Web3, and the metaverse. According to astudyfrom IMARC Group, the global cryptocurrency market size touched $2 trillion in 2022 and it is expected to reach $4 trillion by 2028, growing at a compound annual growth rate of 11.7% between 2023 and 2028.\nToday, cryptocurrencies are widely used for business and merchant payments.AccordingtoDeloitte, 2,353 U.S. businesses accept Bitcoin, as per an estimate in late 2022. That excludes the use of Bitcoin ATMs. Global companies are also accepting the use of Bitcoin and other top currencies for investment, operational, and transactional purposes. Some of the leading companies that accept Bitcoin (BTC) and other crypto assets include PayPal Holdings, Inc. (NASDAQ:PYPL), Visa Inc. (NYSE:V), Mastercard Incorporated (NYSE:MA), and Tesla, Inc. (NASDAQ:TSLA) - to name a few. For instance, Elon Musk has an immense involvement in the crypto market. Musk has been a great admirer of cryptocurrencies and his companies hold a large portion of Bitcoins. As of the second quarter of 2023, Tesla, Inc. (NASDAQ:TSLA)held digital assetsworth $184 billion, which has remained the same for the past three quarters.\nApart from that, the world’s largest asset management firm BlackRock, Inc. (NYSE:BLK) hasfiledfor a Bitcoin spot exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). The SEC has delayed the ruling until the start of 2024. If BlackRock, Inc. (NYSE:BLK) gets the regulatory approval for a Bitcoin spot exchange-traded fund (ETF), it will become the first company to hold the first crypto spot ETF in the U.S.\nThe crypto industry has created new spaces for companies to enter the market such as crypto exchanges, exchange-traded funds (ETFs), crypto mining, crypto wallets, crypto lending, smart contract platforms, and crypto ATMs, among others. Cryptocurrency exchanges have played a great role in taking digital assets to the masses, helped by crypto payment platforms.Accordingtocoinmarketcap.com, the three largest cryptocurrency exchanges by volume include Binance, Coinbase Global, Inc. (NASDAQ:COIN), and Kraken.\nCoinbase Global, Inc. (NASDAQ:COIN) has a large audience in the U.S. market. Being one of thelargest crypto exchangesin the world, Coinbase Global, Inc. (NASDAQ:COIN) has created a massive impact on the adoption of cryptocurrencies. On September 19, Coinbase Global, Inc. (NASDAQ:COIN)announcedthat it has initiated a campaign asking crypto users to reach out to their Congressional representatives to advocate for cryptocurrency legislation. According to Coinbase Global, Inc., almost 52 million Americans own crypto assets, which means every 1 in 5 adults own a crypto asset. The United States is among the leading countries withthe highest adoption of cryptocurrency ownership.\nOn September 6, Coindeskreportedthat Coinbase Global, Inc. (NASDAQ:COIN) along with Framework Ventures has invested $5 million in Socket, a protocol aiming to enhance blockchain communication. Coinbase Global, Inc. (NASDAQ:COIN) shares have soared by almost 110% year-to-date, as of September 21.\nMoving forward, PayPal Holdings, Inc. (NASDAQ:PYPL) has been a notable company in the crypto space. On August 7, PayPal Holdings, Inc. (NASDAQ:PYPL)announcedits U.S. dollar-pegged stablecoin called PayPal USD (PYUSD). Consumers can buy, sell, hold, and transfer PYUSD using PayPal Holdings, Inc. (NASDAQ:PYPL) payment platform.\nNow that we have discussed what is happening in the crypto market, let's take a look at the 20 most searched cryptocurrencies in 2023.\nPixabay/Public Domain\nOur Methodology\nFor our methodology, we sourced the 50 cryptocurrencies with the highest trading volume as of September 23. We then checked their global search volumes on Semrush, a well-known digital marketing agency and keyword insights website. We then shortlisted the top 20 cryptocurrencies with the highest global search volumes on Semrush and ranked them in ascending order of their search volumes. In the case of two cryptocurrencies having the same search volume, we ranked them based on their trading volume. Here is the list of the 20 most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush: 146,600\nMarket Trading Volume (September 23, 2023):$38.32Million\nLaunched in 2014, Monero (XMR) became famous as a privacy coin in the crypto market. With a market capitalization of $2.6 billion, as of September 23, Monero (XMR) ranks among the most searched cryptocurrencies in 2023.\nCompanies that are making strides in the crypto industry include PayPal Holdings, Inc. (NASDAQ:PYPL), Coinbase Global, Inc. (NASDAQ:COIN), and BlackRock, Inc. (NYSE:BLK).\nGlobal Search Volume on Semrush:157,500\nMarket Trading Volume (September 23, 2023):$115Million\nIssued by Maker Protocol, Dai (DAI) is an Ethereum-based stablecoin. Dai (DAI) has a market capitalization of $5.3 billion, as of September 23, and ranks 19th on our list of the most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:196,400\nMarket Trading Volume (September 23, 2023):$64Million\nAave (AAVE) offers an open-source liquidity protocol to createnon-custodial liquidity markets. Having a market capitalization of $914 million, as of September 23, Aave (AAVE) makes it to our list ofthe most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:201,300\nMarket Trading Volume (September 23, 2023):$62.7Million\nOne of the most prominent crypto projects,Polkadot (DOT)has a market capitalization of $5 billion.Polkadot (DOT)is one of the most searched cryptocurrencies in 2023, as of September 23.\nGlobal Search Volume on Semrush:248,200\nMarket Trading Volume (September 23, 2023):$76Million\nCurve DAO Token (CRV) makes it to our list of the most searched cryptocurrencies in 2023. Curve DAO Token (CRV) has a market capitalization of $413 million, as of September 23.\nGlobal Search Volume on Semrush:249,100\nMarket Trading Volume (September 23, 2023):$13.3Billion\nTether USDt (USDT) is the biggest stablecoin pegged against the US dollar. Tether USDt (USDT) has a market capitalization of $83 billion, as of September 23, and makes it to our list of the most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:274,900\nMarket Trading Volume (September 23, 2023):$242Million\nLitecoin (LTC) is also known as the privacy coin. The digital coin has a market capitalization of $4.68 billion, as of September 23. Ranked 14th on our list, Litecoin (LTC) is one of the most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:281,900\nMarket Trading Volume (September 23, 2023):$129Million\nOne of the most prominent crypto projects, Solana (SOL) has a market capitalization of $8.03 billion, as of September 23. Solana (SOL) is one of the most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:296,800\nMarket Trading Volume (September 23, 2023):$44Million\nUniswap (UNI) is one of the rising cryptocurrencies in the market that has gained attention in recent years. The digital coin has a market capitalization of $2.4 billion,as of September 23. Ranked 12th on our list, Uniswap (UNI) makes it to our list of themost searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:353,800\nMarket Trading Volume (September 23, 2023):$135Million\nOne of the most prominent crypto projects, TRON (TRX) has a market capitalization of $7.42 billion, as of September 23. TRON (TRX) ranks among the most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:410,600\nMarket Trading Volume (September 23, 2023):$230Million\nBNB (BNB) is a project of the world’s largest crypto exchange by volume, Binance. BNB (BNB) has a market capitalization of $32.37 billion, as of September 23, and makes it to our list of the most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:449,200\nMarket Trading Volume (September 23, 2023):$89Million\nCardano (ADA) is one of the biggest cryptocurrencies in the world and has a market capitalization of $8.71 billion, as of September 23. Cardano (ADA) ranks among the most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:563,900\nMarket Trading Volume (September 23, 2023):$53Million\nEOS (EOS) remains an attractive coin for crypto users. Ranked 8th on our list, EOS (EOS) has a market capitalization of $640 million,as of September 23,and ranks among the mostsearched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:690,400\nMarket Trading Volume (September 23, 2023):$121Million\nFamously known as thememe coin, Dogecoin (DOGE) is one of the favorite digital assets of billionaire Elon Musk. Dogecoin (DOGE) has a market capitalization of $8.69 billion, as of September 23, and ranks seventh on our list of the most searched cryptocurrencies in 2023.\nGlobal Search Volume on Semrush:690,400\nMarket Trading Volume (September 23, 2023):$146Million\nPolygon (MATIC) is one of the most famous digital assets in the world. Polygon (MATIC) has a market capitalization of $4.91 billion, as of September 23, and ranks among the most searched cryptocurrencies in 2023.\nSome of the most prominent companies making investments in the cryptocurrency market includePayPal Holdings, Inc. (NASDAQ:PYPL), Coinbase Global, Inc. (NASDAQ:COIN), and BlackRock, Inc. (NYSE:BLK).\nClick to continue reading and see5 Most Searched Cryptocurrencies in 2023.\nSuggested Articles:\n• 15 Best Affordable Stocks To Buy Under $5\n• 20 Countries that Use Crypto and Bitcoin the Most\n• 11 Best Airline Stocks to Invest In Right Now\nDisclosure: None.20Most Searched Cryptocurrencies in 2023is originally published on Insider Monkey."]...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-24
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $518,665,844,662
- Hash Rate: 414558853.7494199
- Transaction Count: 441181.0
- Unique Addresses: 685778.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.44
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Luzern, Switzerland --News Direct-- CypherMindHQ PinionNewswire --- CypherMindHQ has launched what some are calling the ultimate automated crypto trading bot. As digital currencies continue to captivate the investment world, the need for sophisticated yet user-friendly tools has never been higher. Enter CypherMindHQ's latest innovation, a bot designed not just for seasoned traders but for anyone looking to enter the crypto space. This cutting-edge tool is being hailed as a must-have for investors, promising to redefine how we approach cryptocurrency trading. Read on to discover what sets this remarkable new technology apart and why it's creating waves in the industry. Artificial Intelligence in Trading Artificial intelligence is a recurring phenomenon, and nowadays, it’s taking the internet by storm by showing off its capabilities. From creating music and artwork to writing school papers and more, internet users are trying it for everything. Another interesting use of an AI chatbot is to find favourable conditions in the crypto trading market. Luckily, traders don’t have to do this on their own and can rely on trading bots like CypherMindHQ instead. For context, I’m referring to the trading bot application that uses artificial intelligence to help crypto traders make informed decisions regarding the market. CypherMindHQ As stated earlier, CypherMindHQ has launched what some are calling the ultimate automated crypto trading bot. So let’s have a look at what this type of trading bot can offer its users. Choose Your Preferred Cryptocurrencies Let’s start off the CypherMindHQ review with its top feature – offering traders a variety of cryptocurrencies to trade. If you’re part of the crypto trader community, you’ll know that the top coins have great potential for growth. From Bitcoin and Ethereum to XRP and Tether, there are different options that you can choose from. The reason for offering various cryptocurrencies is that it encourages traders to build diverse portfolios. Story continues When you choose to trade more than a single cryptocurrency using this crypto auto trading bot, you increase your chances of encountering favourable conditions. Plus, you won’t be channelling your entire investment into a single coin – rather, you can benefit from growth in different markets. Access Professional Trading Features As a trader, you’ll need access to certain features to improve your trading experience. Fortunately, this crypto auto trading bot provides users with an array of trading tools to help them develop effective strategies. One of the most important aspects is that it uses an intelligent AI chatbot to find various patterns in the market. Although preparing a technical analysis is crucial for traders, the bot can do this in less time. With the power of artificial intelligence, it analyses heaps of data in a very short amount of time. Then, it looks at the data to find a pattern – something that indicates how the market will perform in the future. It provides you with these insights, and you can use it to prepare a strategy. Various Payment Methods Available Lastly, this crypto auto trading bot offers its users different options to make an online deposit. The payment methods include VISA, Mastercard, American Express, PayPal, Skrill, and more. With so many options, it’s clear that it aims to give traders a more personalized experience. Let’s not forget that these are all verified payment options, so you can rest assured while making a deposit. In case you’re worried about entering your financial information on the application, don’t be. That’s because it uses an encryption protocol to prevent user data from falling into the wrong hands. And to make sure you can fully enjoy the gains of your strategies, there are no withdrawal fees. Is CypherMindHQ Legit? In addition to being a highly functional application, CypherMindHQ also has certain aspects that allow for a more convenient user experience. This includes the development of a user-friendly interface, which makes it easy for beginners to navigate through the market. It also has an SSL encryption certificate, so traders can rest assured that the application keeps their data protected from risks of theft. Bottom Line To sum up, the different points I mentioned in my CypherMindHQ review, it’s an efficient tool that can give crypto traders an edge in the market. It allows users to build a diverse crypto portfolio comprising various assets so that they can benefit from different market conditions. It offers a multitude of professional trading features, like an analysis tool that uses AI to help you prepare a strategy. Not to mention, there are various payment methods available to choose from, which makes for a more customized experience. Lastly, it implements the latest cybersecurity measures to keep your data protected. Contact Details CypherMindHQ Noah Horton (CEO) [email protected] View source version on newsdirect.com: https://newsdirect.com/news/cyphermindhq-unveils-the-ultimate-automated-crypto-trading-bot-every-investor-must-have-490470855...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Ether (ETH) has reverted to be inflationary amid plunging activity on Ethereum, which could weigh on the token’s price, analysts say.\nNetwork fees, a proxy for usage, plunged more than 9% this week to $22.1 million, lowest in nine months, data by blockchain analytics firm IntoTheBlock shows.\nConsequently, the supply of ETH, Ethereum’s native token, has been increasing as fewer tokens were destroyed – burned – to verify transactions than created,Ultrasound.moneydata shows.\nThe decline in network fees is partly driven by the adoption of layer 2 networks and will likely continue in the near term, Lucas Outumuro, research head at IntoTheBlock, told CoinDesk in a Telegram chat.\n“[This trend] may be putting some pressure on the second largest crypto-asset, as its supply has been growing over the past month, reverting its deflationary trend,” IntoTheBlock wrote in a report.\nEther’sdeflationarynarrative emerged afterlast year’s Merge, amajor upgradefor the network that saw Ethereum transitioning from a proof-of-work consensus mechanism to proof-of-stake, profoundly altering the cryptocurrency’s supply dynamics.\nDuring busy periods, the network burns more tokens than created, curbing its supply, which is usually considered bullish for the price. However, when network demand is low, the dynamic flips.\nIntoTheBlock joined a roster of crypto observers who noted bearish developments for ETH.\nJPMorgan analysts said in a reportearlier this week that Ethereum’s much-anticipated Shanghai upgrade failed to boost network activity, as transaction counts, active addresses and total value locked on the blockchain have all fallen since April.\nCrypto services provider Matrixport reiterated its negative outlook for the crypto asset compared to BTC in a Friday market update, citing “shockingly low revenues” and “lack of buzz” around the next protocol update. The firm forecasted earlier this month that ETH could fall to as low as $1,000 if the trend continues.\nETH has recently changed hands at $1,591 and dropped to a14-month low priceagainst BTC.', 'Bitcoin fell Monday morning in Asia to trade below US$26,300. Ether also dipped and remained below the US$1,600 mark. All other top 10 non-stablecoin cryptocurrencies were down. Toncoin led the losers with a slide of over 4% over the past 24 hours. The retreat in cryptos follows the U.S. Federal Reserve’s hawkish policy stance at its September meeting. Although it paused interest hikes, the Fed signalled another raise to come by the end of the year, with rates to remain higher for longer than anticipated. U.S. stock futures were up during early morning trading in Asia. All three major U.S. indexes closed lower on Friday for a week of losses.\nBitcoin dropped 1.22% in the last 24 hours to US$26,252.57 as of 07:40 a.m. in Hong Kong, according toCoinMarketCapdata. The world’s largest cryptocurrency posted a weekly loss of 0.91%. It was hovering above US$26,500 over the weekend but lost the support line early Monday morning.\n“Overall, the trend is down and stays bearish,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, wrote in a report Monday.\nAs Bitcoin failed to break its 50-day moving average ofUS$26,876, more downward movement is expected.\n“If Bitcoin trades below US$26,000 then the market might attempt another break lower,” Thielen said. He added that “October tends to be seasonal bullish for Bitcoin, but we would stay cautious without a break above its 50d MA.”\nEther dipped 0.86% to US$1,579.12, trading 2.52% lower for the week. The world’s second largest cryptocurrency fell below the US$1,600 support level for the first time since Thursday.\n“We mostly worry about Ethereum as weak fundamentals plus a lack of hype around the EIP-4844 upgrade (which should come sometime in Q4 2023) could make the blockchain slowly obsolete,” said Thielen.\n“Ethereum’s failure to rally above US$1,650 is of the utmost concern as a break lower could have major implications for the altcoin sentiment,” Thielen added.\nEIP-4844, also known as the Ethereum Cancun Upgrade, is a proposed Ethereum upgrade that aims to improve the speed and cost-effectiveness of the Ethereum network.\nThe average fee on the Ethereum blockchain dropped to around US$1.15 per transaction on Saturday, the lowest level since December 2022, according to blockchain intelligence firm Santiment.\n“Historically, we see utility begin rising as $ETH becomes more affordable to circulate. Increased utility can then lead to recovering market cap levels,” wrote Santiment in a Saturday Twitter post.\nAll other top 10 non-stablecoin cryptocurrencies posted losses for the past 24 hours. Toncoin led the losers, falling 4.22% to US$2.20 for a weekly loss of 3.98%. But the native token of the Open Network (TON) still posted a monthly rise of more than 50%\nThe total crypto market capitalization dropped 1.0% in the past 24 hours to US$1.04 trillion, while trading volume edged up 8.42% to US$17.64 billion.\nU.S. stock futures were trading higher as of 09:50 a.m. in Hong Kong. Wall Street closed lower on Friday, with the Dow Jones Industrial Average leading the losers with a 0.31% drop.\nAll three major U.S. indexes closed the week lower. The S&P 500 and the Nasdaq dropped 2.93% and 3.62% respectively, both registering their largest weekly declines since March.\nMost major Asian stock indexes were down Thursday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, and South Korea’s Kospi all dropped. The Hang Seng led the losses with a 0.99% decline while Japan’s Nikkei was up 0.61%.\nInvestors are digesting the Federal Reserve’s hawkish monetary policy outlook. The U.S. central bank on Wednesday kept its interest rates unchanged between 5.25% and 5.50%, butrevisedits economic projection to indicate one more interest rate hike by the end of 2023. It also projects slower-than-expected rate cuts throughout 2024.\nZachary Hill, head of portfolio management at the U.S.-based investment manager Horizon Investments, toldReuterson Saturday that the past week has seen “some Fed messaging colliding with overly optimistic equity investors.”\nThose investors have “wanted to trade peak interest rates for almost a year now.” But the Fed Chair Jerome Powell’sspeechand the Fed’s projection showed that the central bank “doesn’t think we’re there yet,” said Hill.\nFollowing the Fed’s remarks, U.S. 10-year treasury yields closed at 4.44% on Friday, after brieflyrisingabove 4.5% on Thursday for the first time since 2007.\nExplaining the central bank’s hawkish stance, Fed governor Michelle Bowmansaidon Friday thelatest consumer price index(CPI) indicated a rise in inflation. That coincides with risingoil prices. Bowman said that the continued risk of rising energy prices could “reverse some of the progress” she said has been made on inflation in recent months.\n“I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way,” Bowman added.\nThe global oil price benchmark Brent futures traded at around US$92 as of 10:30 a.m. in Hong Kong. That is an increase of over 11% in the past 30 days. Morgan Stanley on Thursday raised its fourth-quarter Brent forecast from US$82.5 per barrel to US$95. But the U.S. investment giant said a price above US$100 would seem “stretched”, according to a note viewed byReuters.\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 74.6% chance of no interest rate hike in November, up from 73.8% on Friday. It also gives a 59.3% chance of another pause in December, up from 54.8% on Friday.\nElsewhere, S&P on Monday lowered its projection for China’s 2023 economic growth from 5.2% to 4.8%. Itcitedthe country’s limited fiscal and monetary easing policies as reasons for the decline.\n(Updates with equity section.)', 'Bitcoin fell Monday morning in Asia to trade below US$26,300. Ether also dipped and remained below the US$1,600 mark. All other top 10 non-stablecoin cryptocurrencies were down. Toncoin led the losers with a slide of over 4% over the past 24 hours. The retreat in cryptos follows the U.S. Federal Reserve’s hawkish policy stance at its September meeting. Although it paused interest hikes, the Fed signalled another raise to come by the end of the year, with rates to remain higher for longer than anticipated. U.S. stock futures were up during early morning trading in Asia. All three major U.S. indexes closed lower on Friday for a week of losses. Bitcoin below US$26,300 with more declines expected Bitcoin dropped 1.22% in the last 24 hours to US$26,252.57 as of 07:40 a.m. in Hong Kong, according to CoinMarketCap data. The world’s largest cryptocurrency posted a weekly loss of 0.91%. It was hovering above US$26,500 over the weekend but lost the support line early Monday morning. “Overall, the trend is down and stays bearish,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, wrote in a report Monday. As Bitcoin failed to break its 50-day moving average of US$26,876 , more downward movement is expected. “If Bitcoin trades below US$26,000 then the market might attempt another break lower,” Thielen said. He added that “October tends to be seasonal bullish for Bitcoin, but we would stay cautious without a break above its 50d MA.” Ether dipped 0.86% to US$1,579.12, trading 2.52% lower for the week. The world’s second largest cryptocurrency fell below the US$1,600 support level for the first time since Thursday. “We mostly worry about Ethereum as weak fundamentals plus a lack of hype around the EIP-4844 upgrade (which should come sometime in Q4 2023) could make the blockchain slowly obsolete,” said Thielen. “Ethereum’s failure to rally above US$1,650 is of the utmost concern as a break lower could have major implications for the altcoin sentiment,” Thielen added. EIP-4844 , also known as the Ethereum Cancun Upgrade, is a proposed Ethereum upgrade that aims to improve the speed and cost-effectiveness of the Ethereum network. The average fee on the Ethereum blockchain dropped to around US$1.15 per transaction on Saturday, the lowest level since December 2022, according to blockchain intelligence firm Santiment. 🤑 #Ethereum network fees have dropped down to its lowest level of 2023, at just $1.15 per transaction. Historically, we see utility begin rising as $ETH becomes more affordable to circulate. Increased utility can then lead to recovering market cap levels. https://t.co/MpOLfMYKUp pic.twitter.com/JI8ZLhmb4p — Santiment (@santimentfeed) September 23, 2023 “Historically, we see utility begin rising as $ETH becomes more affordable to circulate. Increased utility can then lead to recovering market cap levels,” wrote Santiment in a Saturday Twitter post. Story continues All other top 10 non-stablecoin cryptocurrencies posted losses for the past 24 hours. Toncoin led the losers, falling 4.22% to US$2.20 for a weekly loss of 3.98%. But the native token of the Open Network (TON) still posted a monthly rise of more than 50% The total crypto market capitalization dropped 1.0% in the past 24 hours to US$1.04 trillion, while trading volume edged up 8.42% to US$17.64 billion. U.S. equities traders were ‘overly optimistic’ ahead of Fed meeting Image: Getty Images U.S. stock futures were trading higher as of 09:50 a.m. in Hong Kong. Wall Street closed lower on Friday, with the Dow Jones Industrial Average leading the losers with a 0.31% drop. All three major U.S. indexes closed the week lower. The S&P 500 and the Nasdaq dropped 2.93% and 3.62% respectively, both registering their largest weekly declines since March. Most major Asian stock indexes were down Thursday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, and South Korea’s Kospi all dropped. The Hang Seng led the losses with a 0.99% decline while Japan’s Nikkei was up 0.61%. Investors are digesting the Federal Reserve’s hawkish monetary policy outlook. The U.S. central bank on Wednesday kept its interest rates unchanged between 5.25% and 5.50%, but revised its economic projection to indicate one more interest rate hike by the end of 2023. It also projects slower-than-expected rate cuts throughout 2024. Zachary Hill, head of portfolio management at the U.S.-based investment manager Horizon Investments, told Reuters on Saturday that the past week has seen “some Fed messaging colliding with overly optimistic equity investors.” Those investors have “wanted to trade peak interest rates for almost a year now.” But the Fed Chair Jerome Powell’s speech and the Fed’s projection showed that the central bank “doesn’t think we’re there yet,” said Hill. Following the Fed’s remarks, U.S. 10-year treasury yields closed at 4.44% on Friday, after briefly rising above 4.5% on Thursday for the first time since 2007. Explaining the central bank’s hawkish stance, Fed governor Michelle Bowman said on Friday the latest consumer price index (CPI) indicated a rise in inflation. That coincides with rising oil prices . Bowman said that the continued risk of rising energy prices could “reverse some of the progress” she said has been made on inflation in recent months. “I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way,” Bowman added. The global oil price benchmark Brent futures traded at around US$92 as of 10:30 a.m. in Hong Kong. That is an increase of over 11% in the past 30 days. Morgan Stanley on Thursday raised its fourth-quarter Brent forecast from US$82.5 per barrel to US$95. But the U.S. investment giant said a price above US$100 would seem “stretched”, according to a note viewed by Reuters . The Fed meets on Nov. 1 to make its next decision on interest rates. The CME FedWatch Tool predicts a 74.6% chance of no interest rate hike in November, up from 73.8% on Friday. It also gives a 59.3% chance of another pause in December, up from 54.8% on Friday. Elsewhere, S&P on Monday lowered its projection for China’s 2023 economic growth from 5.2% to 4.8%. It cited the country’s limited fiscal and monetary easing policies as reasons for the decline. (Updates with equity section.) View comments', 'Bitcoin fell Monday morning in Asia to trade below US$26,300. Ether also dipped and remained below the US$1,600 mark. All other top 10 non-stablecoin cryptocurrencies were down. Toncoin led the losers with a slide of over 4% over the past 24 hours. The retreat in cryptos follows the U.S. Federal Reserve’s hawkish policy stance at its September meeting. Although it paused interest hikes, the Fed signalled another raise to come by the end of the year, with rates to remain higher for longer than anticipated. U.S. stock futures were up during early morning trading in Asia. All three major U.S. indexes closed lower on Friday for a week of losses.\nBitcoin dropped 1.22% in the last 24 hours to US$26,252.57 as of 07:40 a.m. in Hong Kong, according toCoinMarketCapdata. The world’s largest cryptocurrency posted a weekly loss of 0.91%. It was hovering above US$26,500 over the weekend but lost the support line early Monday morning.\n“Overall, the trend is down and stays bearish,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, wrote in a report Monday.\nAs Bitcoin failed to break its 50-day moving average ofUS$26,876, more downward movement is expected.\n“If Bitcoin trades below US$26,000 then the market might attempt another break lower,” Thielen said. He added that “October tends to be seasonal bullish for Bitcoin, but we would stay cautious without a break above its 50d MA.”\nEther dipped 0.86% to US$1,579.12, trading 2.52% lower for the week. The world’s second largest cryptocurrency fell below the US$1,600 support level for the first time since Thursday.\n“We mostly worry about Ethereum as weak fundamentals plus a lack of hype around the EIP-4844 upgrade (which should come sometime in Q4 2023) could make the blockchain slowly obsolete,” said Thielen.\n“Ethereum’s failure to rally above US$1,650 is of the utmost concern as a break lower could have major implications for the altcoin sentiment,” Thielen added.\nEIP-4844, also known as the Ethereum Cancun Upgrade, is a proposed Ethereum upgrade that aims to improve the speed and cost-effectiveness of the Ethereum network.\nThe average fee on the Ethereum blockchain dropped to around US$1.15 per transaction on Saturday, the lowest level since December 2022, according to blockchain intelligence firm Santiment.\n“Historically, we see utility begin rising as $ETH becomes more affordable to circulate. Increased utility can then lead to recovering market cap levels,” wrote Santiment in a Saturday Twitter post.\nAll other top 10 non-stablecoin cryptocurrencies posted losses for the past 24 hours. Toncoin led the losers, falling 4.22% to US$2.20 for a weekly loss of 3.98%. But the native token of the Open Network (TON) still posted a monthly rise of more than 50%\nThe total crypto market capitalization dropped 1.0% in the past 24 hours to US$1.04 trillion, while trading volume edged up 8.42% to US$17.64 billion.\nU.S. stock futures were trading higher as of 09:50 a.m. in Hong Kong. Wall Street closed lower on Friday, with the Dow Jones Industrial Average leading the losers with a 0.31% drop.\nAll three major U.S. indexes closed the week lower. The S&P 500 and the Nasdaq dropped 2.93% and 3.62% respectively, both registering their largest weekly declines since March.\nMost major Asian stock indexes were down Thursday morning. China’s Shanghai Composite, Hong Kong’s Hang Seng, and South Korea’s Kospi all dropped. The Hang Seng led the losses with a 0.99% decline while Japan’s Nikkei was up 0.61%.\nInvestors are digesting the Federal Reserve’s hawkish monetary policy outlook. The U.S. central bank on Wednesday kept its interest rates unchanged between 5.25% and 5.50%, butrevisedits economic projection to indicate one more interest rate hike by the end of 2023. It also projects slower-than-expected rate cuts throughout 2024.\nZachary Hill, head of portfolio management at the U.S.-based investment manager Horizon Investments, toldReuterson Saturday that the past week has seen “some Fed messaging colliding with overly optimistic equity investors.”\nThose investors have “wanted to trade peak interest rates for almost a year now.” But the Fed Chair Jerome Powell’sspeechand the Fed’s projection showed that the central bank “doesn’t think we’re there yet,” said Hill.\nFollowing the Fed’s remarks, U.S. 10-year treasury yields closed at 4.44% on Friday, after brieflyrisingabove 4.5% on Thursday for the first time since 2007.\nExplaining the central bank’s hawkish stance, Fed governor Michelle Bowmansaidon Friday thelatest consumer price index(CPI) indicated a rise in inflation. That coincides with risingoil prices. Bowman said that the continued risk of rising energy prices could “reverse some of the progress” she said has been made on inflation in recent months.\n“I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way,” Bowman added.\nThe global oil price benchmark Brent futures traded at around US$92 as of 10:30 a.m. in Hong Kong. That is an increase of over 11% in the past 30 days. Morgan Stanley on Thursday raised its fourth-quarter Brent forecast from US$82.5 per barrel to US$95. But the U.S. investment giant said a price above US$100 would seem “stretched”, according to a note viewed byReuters.\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 74.6% chance of no interest rate hike in November, up from 73.8% on Friday. It also gives a 59.3% chance of another pause in December, up from 54.8% on Friday.\nElsewhere, S&P on Monday lowered its projection for China’s 2023 economic growth from 5.2% to 4.8%. Itcitedthe country’s limited fiscal and monetary easing policies as reasons for the decline.\n(Updates with equity section.)', "Cryptocurrency exchange Coinbase (NASDAQ:COIN) is currently holding approximately 1 million Bitcoins, valued at about $25 billion, according to recent findings by blockchain analytics firm Arkham Intelligence, published on Sunday. This figure signifies that Coinbase owns nearly 5% of the total circulating Bitcoin supply worldwide.\nArkham Intelligence's research has identified and tagged about 36 million Bitcoin deposit and holding addresses associated with Coinbase. The largest identified cold wallet, a form of secure offline storage, holds around 10,000 Bitcoins. The firm also suggested that there may be additional untagged Bitcoin holdings owned by Coinbase that have not been included in their research.\nThese extensive holdings solidify Coinbase's position as the world's largest Bitcoin entity. However, it's worth noting that not all Bitcoins held in Coinbase's wallets are owned by the exchange itself. While Coinbase manages wallets containing billions of dollars' worth of Bitcoin, its actual corporate-owned Bitcoin holdings are estimated to be around 10,000 BTC, equivalent to approximately $200 million based on current prices.\nIn contrast to Coinbase's substantial holdings, there has been a significant decrease in the supply of Bitcoin on exchanges. Data from Santiment shows that the amount of BTC held on exchanges is approximately 1.1 million, a record low in nearly six years. This decline could be interpreted as a bullish signal but may also be influenced by regulatory uncertainties surrounding Coinbase and other exchanges.\nCoinbase's Bitcoin holdings rival those of Satoshi Nakamoto, the founder of Bitcoin. Nakamoto is thought to have mined more than 1 million BTC between January and July 2009 when Bitcoin's value was below a penny. At today's value, this would equal more than $26 billion.\nIn terms of corporate Bitcoin ownership, MicroStrategy continues to be a significant player. In their August financial disclosure, MicroStrategy revealed that they hold 152,800 BTC, valued at over $4 billion.\nCoinbase's most recent 10-Q filing with the Securities and Exchange Commission (SEC) estimated that it held $60.7 billion in customer assets and liabilities in Bitcoin. Trading in Bitcoin and Bitcoin pairs comprises a significant portion of Coinbase's trading volume, making up 40% of its total volumes and about 39% in its transaction revenue.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nCoinbase holds 5% of global Bitcoin supply, amounting to $25 billion\n'Rich Dad Poor Dad' Author Kiyosaki Reveals True Wealth Secret Formula\nTerra Classic community elects to cease USTC minting", "Cryptocurrency exchange Coinbase (NASDAQ:COIN) is currently holding approximately 1 million Bitcoins, valued at about $25 billion, according to recent findings by blockchain analytics firm Arkham Intelligence, published on Sunday. This figure signifies that Coinbase owns nearly 5% of the total circulating Bitcoin supply worldwide.\nArkham Intelligence's research has identified and tagged about 36 million Bitcoin deposit and holding addresses associated with Coinbase. The largest identified cold wallet, a form of secure offline storage, holds around 10,000 Bitcoins. The firm also suggested that there may be additional untagged Bitcoin holdings owned by Coinbase that have not been included in their research.\nThese extensive holdings solidify Coinbase's position as the world's largest Bitcoin entity. However, it's worth noting that not all Bitcoins held in Coinbase's wallets are owned by the exchange itself. While Coinbase manages wallets containing billions of dollars' worth of Bitcoin, its actual corporate-owned Bitcoin holdings are estimated to be around 10,000 BTC, equivalent to approximately $200 million based on current prices.\nIn contrast to Coinbase's substantial holdings, there has been a significant decrease in the supply of Bitcoin on exchanges. Data from Santiment shows that the amount of BTC held on exchanges is approximately 1.1 million, a record low in nearly six years. This decline could be interpreted as a bullish signal but may also be influenced by regulatory uncertainties surrounding Coinbase and other exchanges.\nCoinbase's Bitcoin holdings rival those of Satoshi Nakamoto, the founder of Bitcoin. Nakamoto is thought to have mined more than 1 million BTC between January and July 2009 when Bitcoin's value was below a penny. At today's value, this would equal more than $26 billion.\nIn terms of corporate Bitcoin ownership, MicroStrategy continues to be a significant player. In their August financial disclosure, MicroStrategy revealed that they hold 152,800 BTC, valued at over $4 billion.\nCoinbase's most recent 10-Q filing with the Securities and Exchange Commission (SEC) estimated that it held $60.7 billion in customer assets and liabilities in Bitcoin. Trading in Bitcoin and Bitcoin pairs comprises a significant portion of Coinbase's trading volume, making up 40% of its total volumes and about 39% in its transaction revenue.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nCoinbase holds 5% of global Bitcoin supply, amounting to $25 billion\n'Rich Dad Poor Dad' Author Kiyosaki Reveals True Wealth Secret Formula\nTerra Classic community elects to cease USTC minting", 'Coinbase (NASDAQ:COIN), the major U.S. cryptocurrency exchange, is reportedly nearing a deal to acquire FTX Europe, as part of its strategy to expand in areas with clear cryptocurrency regulations. This move comes after the bankruptcy of FTX\'s parent company in the United States last year. Coinbase\'s interest in FTX Europe is driven by the latter\'s "highly profitable" derivatives business and growing customer base.\nThe negotiation between Coinbase and FTX Europe is already in its final stages. The potential acquisition underscores the growing importance of derivatives in Coinbase’s global expansion plans. This interest was ignited shortly after FTX filed for bankruptcy protection in the U.S. in November last year and rekindled as recently as early September.\nCoinbase\'s move to purchase FTX Europe is seen by industry insiders as evidence of the increasing significance of derivatives for its global expansion plans, especially since spot trading volumes have dipped into the bear market. According to data from Kaiko Research, in Q2 2023, the trading volume for crypto financial instruments based on popular cryptocurrencies like Bitcoin and Ethereum was six times the volume of spot trades.\nIn a recent blog post, Coinbase affirmed its intentions to grow its business in regions with clear regulations for cryptocurrencies, such as Europe. The company stated that every part of the world is seeing progress on crypto-forward regulation, except for the U.S., which is opting for enforcement of existing rules and new regulation through the courts.\nFTX Europe was put up for sale after its U.S.-based parent company declared bankruptcy last year. Despite the parent company\'s troubles, FTX Europe continued to register significant user growth until its last minute. Before going bankrupt, FTX had gained thousands of new users.\nHowever, Coinbase is not alone in its interest in acquiring FTX Europe; other major crypto platforms, including Trek Labs and Crypto.com, have also expressed interest. Bidders had until Saturday, September 24, to make their offers.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nCoinbase nears acquisition deal for FTX Europe, eyeing crypto derivatives expansion\nVitalik wallet sends 400 ETH worth $600K to Coinbase\nNifty News: Murakami to step back from NFTs, Dan Harmon’s NFT show debut and more', 'Coinbase (NASDAQ:COIN), the major U.S. cryptocurrency exchange, is reportedly nearing a deal to acquire FTX Europe, as part of its strategy to expand in areas with clear cryptocurrency regulations. This move comes after the bankruptcy of FTX\'s parent company in the United States last year. Coinbase\'s interest in FTX Europe is driven by the latter\'s "highly profitable" derivatives business and growing customer base. The negotiation between Coinbase and FTX Europe is already in its final stages. The potential acquisition underscores the growing importance of derivatives in Coinbase’s global expansion plans. This interest was ignited shortly after FTX filed for bankruptcy protection in the U.S. in November last year and rekindled as recently as early September. Coinbase\'s move to purchase FTX Europe is seen by industry insiders as evidence of the increasing significance of derivatives for its global expansion plans, especially since spot trading volumes have dipped into the bear market. According to data from Kaiko Research, in Q2 2023, the trading volume for crypto financial instruments based on popular cryptocurrencies like Bitcoin and Ethereum was six times the volume of spot trades. In a recent blog post, Coinbase affirmed its intentions to grow its business in regions with clear regulations for cryptocurrencies, such as Europe. The company stated that every part of the world is seeing progress on crypto-forward regulation, except for the U.S., which is opting for enforcement of existing rules and new regulation through the courts. FTX Europe was put up for sale after its U.S.-based parent company declared bankruptcy last year. Despite the parent company\'s troubles, FTX Europe continued to register significant user growth until its last minute. Before going bankrupt, FTX had gained thousands of new users. However, Coinbase is not alone in its interest in acquiring FTX Europe; other major crypto platforms, including Trek Labs and Crypto.com, have also expressed interest. Bidders had until Saturday, September 24, to make their offers. Story continues This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles Coinbase nears acquisition deal for FTX Europe, eyeing crypto derivatives expansion Vitalik wallet sends 400 ETH worth $600K to Coinbase Nifty News: Murakami to step back from NFTs, Dan Harmon’s NFT show debut and more', 'Bitcoin (BTC) and Wall Street\'s benchmark equity index, the S&P 500, appear on track to end the third quarter lower as a key metric shows the case for owning bonds over stocks and risk assets in general, is strongest since 2009.\nThe top cryptocurrency by market value traded at $26,100, representing a 14% decline for the third quarter, assuming losses hold through Sept. 30. At Friday\'s close of $4,320.05, the S&P 500, the benchmark for risk assets worldwide, including cryptocurrencies, was down nearly 3% for the third quarter.\nThe equity risk premium, the gap between the S&P 500’s earnings yield and the yield on the U.S. 10-year Treasury note, has declined to -0.58, the lowest since 2009, according to charting platform TradingView. The spread has averaged roughly 3.5 points since 2008.\nIn other words, the allure of investing in stocks and other risk assets has dimmed with safe-haven government bonds offering a relatively higher return. Treasury securities are regarded as risk free, given they are backed by the United States government, which has never defaulted on its debts. The 10-year yield, therefore, is considered a benchmark risk-free rate of return against which other returns from other assets are compared.\nThe difference between the S&P 500\'s dividend yield and the 10-year Treasury yield paints a similar picture. The spread has declined to -2.87, the lowest since July 2007.\nJuicy bond yields also mean less incentive to invest in bitcoin. Crypto propounders consider bitcoin a haven asset like digital gold, although historically, the cryptocurrency has been apure play on liquidity, often acting as alead indicatorto stocks.\n"Bitcoin is a non-yield bearing, risk-on asset. As such, it will be adversely affected by a high USD risk-free rate due to portfolio rebalancing," Alex McFarlane, co-founder of Keyring Network,said on LinkedIn.\n"The suggestion that we can go forward ignoring rates markets and trade BTC as an orthogonal portfolio component doesn’t square unless BTC can offer a risk-free rate - which it cannot, unlike POS [Proof-of-stake]," McFarlane added.\nThe S&P 500 earnings yield is the sum of the earnings per share of the index\'s component companies divided by the current index level. The dividend yield is the basic return an investor can expect to receive by investing in the index companies.\nThe spread between the earnings yield and the bond yield helps money managers assess the relative attractiveness of the two assets.', 'Bitcoin (BTC) and Wall Street\'s benchmark equity index, the S&P 500, appear on track to end the third quarter lower as a key metric shows the case for owning bonds over stocks and risk assets in general, is strongest since 2009. The top cryptocurrency by market value traded at $26,100, representing a 14% decline for the third quarter, assuming losses hold through Sept. 30. At Friday\'s close of $4,320.05, the S&P 500, the benchmark for risk assets worldwide, including cryptocurrencies, was down nearly 3% for the third quarter. The equity risk premium, the gap between the S&P 500’s earnings yield and the yield on the U.S. 10-year Treasury note, has declined to -0.58, the lowest since 2009, according to charting platform TradingView. The spread has averaged roughly 3.5 points since 2008. In other words, the allure of investing in stocks and other risk assets has dimmed with safe-haven government bonds offering a relatively higher return. Treasury securities are regarded as risk free, given they are backed by the United States government, which has never defaulted on its debts. The 10-year yield, therefore, is considered a benchmark risk-free rate of return against which other returns from other assets are compared. The difference between the S&P 500\'s dividend yield and the 10-year Treasury yield paints a similar picture. The spread has declined to -2.87, the lowest since July 2007. Juicy bond yields also mean less incentive to invest in bitcoin. Crypto propounders consider bitcoin a haven asset like digital gold, although historically, the cryptocurrency has been a pure play on liquidity , often acting as a lead indicator to stocks. The spread has declined to lowest since 2009, disincentivizing investing in stocks and other risk assets. (TradingView/CoinDesk) "Bitcoin is a non-yield bearing, risk-on asset. As such, it will be adversely affected by a high USD risk-free rate due to portfolio rebalancing," Alex McFarlane, co-founder of Keyring Network, said on LinkedIn . "The suggestion that we can go forward ignoring rates markets and trade BTC as an orthogonal portfolio component doesn’t square unless BTC can offer a risk-free rate - which it cannot, unlike POS [Proof-of-stake]," McFarlane added. The S&P 500 earnings yield is the sum of the earnings per share of the index\'s component companies divided by the current index level. The dividend yield is the basic return an investor can expect to receive by investing in the index companies. The spread between the earnings yield and the bond yield helps money managers assess the relative attractiveness of the two assets. Spread between S&P 500’s dividend yield and 10y U.S. Treasury yield back to where it was in October 2007 pic.twitter.com/VHpXjLKDkc — Liz Ann Sonders (@LizAnnSonders) September 20, 2023 View comments', 'Bitcoin (BTC) and Wall Street\'s benchmark equity index, the S&P 500, appear on track to end the third quarter lower as a key metric shows the case for owning bonds over stocks and risk assets in general, is strongest since 2009.\nThe top cryptocurrency by market value traded at $26,100, representing a 14% decline for the third quarter, assuming losses hold through Sept. 30. At Friday\'s close of $4,320.05, the S&P 500, the benchmark for risk assets worldwide, including cryptocurrencies, was down nearly 3% for the third quarter.\nThe equity risk premium, the gap between the S&P 500’s earnings yield and the yield on the U.S. 10-year Treasury note, has declined to -0.58, the lowest since 2009, according to charting platform TradingView. The spread has averaged roughly 3.5 points since 2008.\nIn other words, the allure of investing in stocks and other risk assets has dimmed with safe-haven government bonds offering a relatively higher return. Treasury securities are regarded as risk free, given they are backed by the United States government, which has never defaulted on its debts. The 10-year yield, therefore, is considered a benchmark risk-free rate of return against which other returns from other assets are compared.\nThe difference between the S&P 500\'s dividend yield and the 10-year Treasury yield paints a similar picture. The spread has declined to -2.87, the lowest since July 2007.\nJuicy bond yields also mean less incentive to invest in bitcoin. Crypto propounders consider bitcoin a haven asset like digital gold, although historically, the cryptocurrency has been apure play on liquidity, often acting as alead indicatorto stocks.\n"Bitcoin is a non-yield bearing, risk-on asset. As such, it will be adversely affected by a high USD risk-free rate due to portfolio rebalancing," Alex McFarlane, co-founder of Keyring Network,said on LinkedIn.\n"The suggestion that we can go forward ignoring rates markets and trade BTC as an orthogonal portfolio component doesn’t square unless BTC can offer a risk-free rate - which it cannot, unlike POS [Proof-of-stake]," McFarlane added.\nThe S&P 500 earnings yield is the sum of the earnings per share of the index\'s component companies divided by the current index level. The dividend yield is the basic return an investor can expect to receive by investing in the index companies.\nThe spread between the earnings yield and the bond yield helps money managers assess the relative attractiveness of the two assets.', "Bitcoin (BTC) watchers are leaning bearish in the short term but expect prices to pick up once the anticipated halving event is complete in 2024, with expectations of a consolidation period until then. The industry’s oldest asset saw a tepid weekend marked by price stability and low volumes, nearing the $26,000 level, losing 1.7% in the past 24 hours. Major tokens such as XRP and dogecoin (DOGE) led declines, with drops of 4% in the past 24 hours. Ether (ETH) fell 0.9%, outperforming the general market, as the CoinDesk Market Index (CMI), a broad-based tracker of hundreds of tokens, slumped 1.1%. Aptos's APT, Chainlink’s LINK and gaming platform ImmutableX’s IMX were the only tokens in the green, rising as much as 6% on various growth – and fake – catalysts. Analysts at trading firm FxPro told CoinDesk in a note they remain bearish for the next few weeks, expecting prices to reach as low as $23,000 amid the general lack of interest in trading riskier assets and the absence of market-moving catalysts. However, there’s still hope for bulls. On-chain data platform CryptoQuant published in a weekly note that bitcoin's recent price performance closely resembled past cycles, suggesting that the asset was “likely to remain in a consolidation phase until the 2024 halving event” but hinted at a “significant price increase after the halving.” “This assessment is supported by various long-term valuation metrics, including logarithmic growth curves,” analysts at CryptoQuant wrote. “There’s also the realized cap of short-term user transactions (UTXOs), which indicates under-valuation and the absence of widespread retail speculation, reinforcing the potential for future price growth.” Bitcoin prices have historically boomed after its halving, a term when block rewards are slashed in half in typically four-year cycles. The estimated date for the next halving is Apr. 21, data shows .", "Bitcoin (BTC) watchers areleaning bearish in the short termbut expect prices to pick up once the anticipated halving event is complete in 2024, with expectations of a consolidation period until then.\nThe industry’s oldest asset saw a tepid weekend marked by price stability and low volumes, nearing the $26,000 level, losing 1.7% in the past 24 hours.\nMajor tokens such as XRP and dogecoin (DOGE) led declines, with drops of 4% in the past 24 hours. Ether (ETH) fell 0.9%, outperforming the general market, as the CoinDesk Market Index (CMI), a broad-based tracker of hundreds of tokens, slumped 1.1%.\nAptos's APT, Chainlink’s LINK and gaming platform ImmutableX’s IMX were the only tokens in the green, rising as much as 6% on various growth –and fake– catalysts.\nAnalysts at trading firm FxPro told CoinDesk in a note they remain bearish for the next few weeks, expecting prices to reach as low as $23,000 amid the general lack of interest in trading riskier assets and the absence of market-moving catalysts.\nHowever, there’s still hope for bulls. On-chain data platform CryptoQuant published in a weekly note that bitcoin's recent price performance closely resembled past cycles, suggesting that the asset was “likely to remain in a consolidation phase until the 2024 halving event” but hinted at a “significant price increase after the halving.”\n“This assessment is supported by various long-term valuation metrics, including logarithmic growth curves,” analysts at CryptoQuant wrote. “There’s also the realized cap of short-term user transactions (UTXOs), which indicates under-valuation and the absence of widespread retail speculation, reinforcing the potential for future price growth.”\nBitcoin prices have historically boomed after its halving, a term when block rewards are slashed in half in typically four-year cycles. The estimated date for the next halving is Apr. 21,data shows.", "Bitcoin (BTC) watchers areleaning bearish in the short termbut expect prices to pick up once the anticipated halving event is complete in 2024, with expectations of a consolidation period until then.\nThe industry’s oldest asset saw a tepid weekend marked by price stability and low volumes, nearing the $26,000 level, losing 1.7% in the past 24 hours.\nMajor tokens such as XRP and dogecoin (DOGE) led declines, with drops of 4% in the past 24 hours. Ether (ETH) fell 0.9%, outperforming the general market, as the CoinDesk Market Index (CMI), a broad-based tracker of hundreds of tokens, slumped 1.1%.\nAptos's APT, Chainlink’s LINK and gaming platform ImmutableX’s IMX were the only tokens in the green, rising as much as 6% on various growth –and fake– catalysts.\nAnalysts at trading firm FxPro told CoinDesk in a note they remain bearish for the next few weeks, expecting prices to reach as low as $23,000 amid the general lack of interest in trading riskier assets and the absence of market-moving catalysts.\nHowever, there’s still hope for bulls. On-chain data platform CryptoQuant published in a weekly note that bitcoin's recent price performance closely resembled past cycles, suggesting that the asset was “likely to remain in a consolidation phase until the 2024 halving event” but hinted at a “significant price increase after the halving.”\n“This assessment is supported by various long-term valuation metrics, including logarithmic growth curves,” analysts at CryptoQuant wrote. “There’s also the realized cap of short-term user transactions (UTXOs), which indicates under-valuation and the absence of widespread retail speculation, reinforcing the potential for future price growth.”\nBitcoin prices have historically boomed after its halving, a term when block rewards are slashed in half in typically four-year cycles. The estimated date for the next halving is Apr. 21,data shows.", "Cryptocurrencies, including Bitcoin and Ether, experienced a downturn on Monday. Bitcoin fell 2% to below $26,100, nearing the $26,000 mark that has served as a supportive bottom limit for more than a month. Despite a brief surge above $27,000 last week, Bitcoin failed to maintain its position.\nEther, the second-largest cryptocurrency by market capitalization, also recorded a 1.5% decline to $1,575. Other smaller cryptocurrencies or 'altcoins' like Cardano and Polygon reported losses of 1% and 2% respectively. Meme-based cryptocurrencies such as Dogecoin and Shiba Inu were not immune to the downward trend, with both falling by 2% and 1%.\nThis decrease in cryptocurrency prices coincides with historically low trading volumes and volatility in the crypto market, suggesting a decline in investor interest. The market continues to anticipate a decision from the Securities and Exchange Commission regarding spot Bitcoin exchange-traded funds (ETFs). However, this potential catalyst may take several months to materialize.\nExternal macroeconomic factors have also been influencing cryptocurrency prices. Similar to traditional stock market indices like the Dow Jones Industrial Average and S&P 500, Bitcoin's price movements have shown responsiveness to shifts in interest rate outlooks. With interest rates currently at generational highs, increased returns on risk-free cash or government debt could deter investors from venturing into riskier assets such as Bitcoin.\nInvestors are closely watching whether the Federal Reserve will increase interest rates in November. Subsequent decisions on lowering rates are also critical considerations. Strong economic data could discourage the Federal Reserve from reducing rates while signs of economic weakness could prompt a more accommodative stance.\nEconomic indicators due this week could potentially influence these decisions and consequently impact cryptocurrency markets. These include Monday's Dallas Fed manufacturing activity data for September and the Chicago Fed national activity index for August. Later in the week, revisions to the U.S. gross domestic product over the past five years and the personal-consumption expenditures index, the Fed's preferred inflation measure, are expected.\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.\nRelated Articles\nCryptocurrencies waver as investors await Federal Reserve decisions\nCoinbase Solidifies European Presence With Spanish Aml Compliance\nCrypto sees outflows for 6th consecutive week, XRP and SOL gain investor confidence", "Cryptocurrencies, including Bitcoin and Ether, experienced a downturn on Monday. Bitcoin fell 2% to below $26,100, nearing the $26,000 mark that has served as a supportive bottom limit for more than a month. Despite a brief surge above $27,000 last week, Bitcoin failed to maintain its position. Ether, the second-largest cryptocurrency by market capitalization, also recorded a 1.5% decline to $1,575. Other smaller cryptocurrencies or 'altcoins' like Cardano and Polygon reported losses of 1% and 2% respectively. Meme-based cryptocurrencies such as Dogecoin and Shiba Inu were not immune to the downward trend, with both falling by 2% and 1%. This decrease in cryptocurrency prices coincides with historically low trading volumes and volatility in the crypto market, suggesting a decline in investor interest. The market continues to anticipate a decision from the Securities and Exchange Commission regarding spot Bitcoin exchange-traded funds (ETFs). However, this potential catalyst may take several months to materialize. External macroeconomic factors have also been influencing cryptocurrency prices. Similar to traditional stock market indices like the Dow Jones Industrial Average and S&P 500, Bitcoin's price movements have shown responsiveness to shifts in interest rate outlooks. With interest rates currently at generational highs, increased returns on risk-free cash or government debt could deter investors from venturing into riskier assets such as Bitcoin. Investors are closely watching whether the Federal Reserve will increase interest rates in November. Subsequent decisions on lowering rates are also critical considerations. Strong economic data could discourage the Federal Reserve from reducing rates while signs of economic weakness could prompt a more accommodative stance. Economic indicators due this week could potentially influence these decisions and consequently impact cryptocurrency markets. These include Monday's Dallas Fed manufacturing activity data for September and the Chicago Fed national activity index for August. Later in the week, revisions to the U.S. gross domestic product over the past five years and the personal-consumption expenditures index, the Fed's preferred inflation measure, are expected. Story continues This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Related Articles Cryptocurrencies waver as investors await Federal Reserve decisions Coinbase Solidifies European Presence With Spanish Aml Compliance Crypto sees outflows for 6th consecutive week, XRP and SOL gain investor confidence", "The XRP Ledger (XRPL), operated by Ripple, has surpassed a significant milestone, reaching over 2.6 billion total transactions. This was revealed by Marcus Infranger, Vice President of RippleX Growth, during his recent appearance at the Apex Dev Summit in Amsterdam.\nInfranger highlighted the scalability and interoperability of the XRPL, emphasizing its status as one of the most efficient blockchain networks. He noted that the network's transaction speed, typically completing within 3 to 5 seconds, has been reliable for over a decade. This swift transaction speed was previously underscored by SpendTheBits, a payment platform on the XRPL, last October.\nThe XRP network consistently lo
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-25
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $511,375,476,269
- Hash Rate: 411719409.5456568
- Transaction Count: 285750.0
- Unique Addresses: 635909.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.47
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: By Brigid Riley
TOKYO, Sept 20 (Reuters) - The dollar remained firm on Wednesday but softened slightly against the yen ahead of a much-anticipated rate decision by the Federal Reserve later in the day.
The U.S. dollar index, which measures the greenback against a basket of rivals, stayed mostly flat at 105.13 as traders awaited the Fed's rate decision.
Markets expect the Fed will almost certainly keep rates on hold at 5.25% to 5.50%, putting the focus on the central bank's forward guidance.
Futures markets are pricing in a 30% likelihood of a quarter-point increase in November or 40% chance it will be in December, according to CME FedWatch tool.
"We expect the FOMC to retain its forecast of one extra 25 hike by year-end, though it will not follow through with it in our view," said Carol Kong, economist and currency strategist at the Commonwealth Bank of Australia.
Dollar/yen could see some upside pressure after a hawkish FOMC meeting, she added.
The yen last sat nearly 0.1% higher at 147.77 versus the greenback, off Tuesday's low of 147.92 though hovering near the 10-month trough against the dollar ahead of the FOMC announcement.
Speculation increased about a possible sooner-than-expected exit from the Bank of Japan's ultra-loose policy, but the central bank will most likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus will stay for the time being amid economic uncertainty.
Japan's top financial diplomat, Masato Kanda, reiterated warnings on Wednesday, saying Japanese authorities are always in close communication on currencies with U.S. and overseas policymakers while keeping a close watch on market moves with a "high sense of urgency".
Meanwhile, the Australian dollar, a proxy for China growth, rose almost 0.1%, holding onto gains after minutes of the Reserve Bank of Australia's latest policy meeting signalled more interest rate increases to come.
The New Zealand dollar ticked up over 0.2% against the dollar near $0.5950.
The euro and sterling stood mostly unchanged in the Asian morning, at $1.0680 and $1.2391 respectively.
Market eyes will be on UK CPI released on Wednesday, the last bit of inflation data to squeeze in before the Bank of England makes their rate decision on Thursday.
In cryptocurrencies, bitcoin BTC=BTSP hovered around $27,210, after touching a three-week high on Tuesday.
(Reporting by Brigid Riley. Editing by Gerry Doyle)...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin traded flat below US$26,300 Tuesday morning in Asia. Ether also edged up but remained below the US$1,600 mark. Most other top 10 non-stablecoin cryptocurrencies, while recording marginal gains in the past 24 hours, logged losses for the week. Cardano’s ADA led the winners. Cryptos, along with global equities, face pressure from interest rate hike concerns and rising treasury yields. U.S. stock futures were flat during early morning trading in Asia after Wall Street closed higher on Monday. That rise broke a four-day losing streak triggered by hawkishness from the U.S. Federal Reserve.\nBitcoin was little changed as of 07:40 a.m. in Hong Kong, trading at US$26,276.60 for a weekly loss of 1.78%, according toCoinMarketCapdata. The world’s largest cryptocurrency dropped to US$26,011.47 on Monday evening, the lowest price since Sept. 13.\nEther also remained flat. It edged up 0.35% to US$1,586.87 but is down 3.06% for the past seven days. The token touched a high of US$1,595.84 on early Tuesday morning, but failed to move above the US$1,600 resistance level.\n“Cryptocurrency market sentiment remains weak, amid declines in global stock markets, a strong dollar and rising yields putting pressure on risk assets,” Hani Abuagla, senior market analyst at online trading broker XTB MENA, said in an emailed comment.\n“The economic policies enacted by central banks, particularly the Federal Reserve, have redirected capital towards less risky investments such as government bonds,” said Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, in an emailed note.\n“These bonds currently offer an attractive risk/reward ratio, offering a passive income while mitigating portfolio risk,” Greco added.\nCiting data from blockchain tracker Glassnode, XTB MENA’s Abuagla noted that over 97.5% of addresses owned by short-term Bitcoin holders are posting losses — an 11 month high. Short-term holders (STH) are those traders that have bought Bitcoin over the last 155 days.\n“This may mean that the pressure to sell BTC at a loss in the STH pool may be growing, as evidenced by the previous pattern of on-chain behavior (when the price fell below the average STH purchase price of BTC),” said Abuagla.\nMeanwhile, Abuagla said that a drop in Bitcoin prices could be a “contrary signal” indicating an oversold market. That may present a potential accumulation opportunity for long-term investors, he added.\nMicroStrategy, the U.S.-based analytics firm founded by Michael Saylor,revealedon Monday it purchased nearly US$150 million worth of Bitcoin from Aug.1 to Sept. 24 at an average price of about US$27,053 per coin.\nAs of Sept. 24, MicroStrategy held around 158,245 bitcoins, which were acquired at an aggregate purchase price of roughly US$4.68 billion.\n“While this is bullish and shows continued faith and strong buying pressure, crypto markets didn’t really react. Ironically, MicroStrategy’s buying announcements have historically been followed by mild pull-backs instead of rises, and the crypto space might be cautious about buying,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\n“The whole thing happens in an environment where investors are still digesting the Fed’s speech hinting at higher rates for longer, and therefore presumed lower valuations for most risk assets,” added d’Anethan.\nMost other top 10 non-stablecoin cryptocurrencies posted gains for the past 24 hours. Cardano’s ADA led the winners. The token rose 1.10% to US$0.2453 but lost 2.49% for the week.\nToncoin was the only top-10 non-stablecoin token to record a 24-hour loss. It dropped 1.83% to US$2.16 for a weekly loss of 10.28%.\nThe total crypto market capitalization edged up 0.28% in the past 24 hours to US$1.05 trillion, while trading volume rose 40.50% to US$24.94 billion.\nU.S. stock futures were trading lower as of 09:50 a.m. in Hong Kong. The Nasdaq led the losses with a 0.40% drop. Wall Street closed higher Monday following a sharp decline Friday.\nMost major Asian stock indexes were down Tuesday morning. Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all dipped. The Kospi led the declines with a 1.14% drop. China’s Shanghai Composite edged up 0.14%.\nBoth the S&P and Nasdaq indexes last Friday logged their biggest weekly losses since March. That followed U.S. Federal Reserve comments last week indicating it will keep interest rates higher for longer.\nChuck Carlson, chief executive officer at the U.S.-based investment advisor Horizon Investment Services, toldReutersTuesday that he sees a “tug of war” dynamic playing among investors. There are now two groups, he said. Those concerned by Fed hawkishness and “bulls wondering maybe we have seen the correction and we can start to build from these levels higher.”\nKey economic data releases this week include the U.S. second-quarter gross domestic output (GDP) and personal consumption expenditure price index (PCE). Both are expected Thursday. Analysts project an acceleration in U.S. GDP growth and a slowdown in core PCE, according toInvesting.com.\nThe benchmark U.S. 10-year treasury yield rose on Monday to close at 4.542%. That was thehighest closing pricesince October 2007.\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 81.5% chance of no interest rate hike in November, up from 74.6% on Monday. It also gives a 60.9% chance of another pause in December, up from 59.3% on Monday.\nMeanwhile, the crisis at China’s real estate giant Evergrande Group worsened Monday. The firm’s mainland China unit, Hengda Real Estate Group Co.,defaultedon principal and interest payments totaling about US$547 million due Sept. 25. The firm’s shares dropped 21.8% on Monday to their lowest closing level since Sept. 5.\nEvergrandefiledfor U.S. bankruptcy protection in August 2023 after itsdefaulton a dollar bond in December 2021 triggered widespread turmoil in the Chinese real estate industry.\n(Updates with equity section.)', 'Bitcoin traded flat below US$26,300 Tuesday morning in Asia. Ether also edged up but remained below the US$1,600 mark. Most other top 10 non-stablecoin cryptocurrencies, while recording marginal gains in the past 24 hours, logged losses for the week. Cardano’s ADA led the winners. Cryptos, along with global equities, face pressure from interest rate hike concerns and rising treasury yields. U.S. stock futures were flat during early morning trading in Asia after Wall Street closed higher on Monday. That rise broke a four-day losing streak triggered by hawkishness from the U.S. Federal Reserve. Losses for short-term Bitcoin holders Bitcoin was little changed as of 07:40 a.m. in Hong Kong, trading at US$26,276.60 for a weekly loss of 1.78%, according to CoinMarketCap data. The world’s largest cryptocurrency dropped to US$26,011.47 on Monday evening, the lowest price since Sept. 13. Ether also remained flat. It edged up 0.35% to US$1,586.87 but is down 3.06% for the past seven days. The token touched a high of US$1,595.84 on early Tuesday morning, but failed to move above the US$1,600 resistance level. “Cryptocurrency market sentiment remains weak, amid declines in global stock markets, a strong dollar and rising yields putting pressure on risk assets,” Hani Abuagla, senior market analyst at online trading broker XTB MENA, said in an emailed comment. “The economic policies enacted by central banks, particularly the Federal Reserve, have redirected capital towards less risky investments such as government bonds,” said Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, in an emailed note. “These bonds currently offer an attractive risk/reward ratio, offering a passive income while mitigating portfolio risk,” Greco added. Citing data from blockchain tracker Glassnode, XTB MENA’s Abuagla noted that over 97.5% of addresses owned by short-term Bitcoin holders are posting losses — an 11 month high. Short-term holders (STH) are those traders that have bought Bitcoin over the last 155 days. Story continues “This may mean that the pressure to sell BTC at a loss in the STH pool may be growing, as evidenced by the previous pattern of on-chain behavior (when the price fell below the average STH purchase price of BTC),” said Abuagla. Meanwhile, Abuagla said that a drop in Bitcoin prices could be a “contrary signal” indicating an oversold market. That may present a potential accumulation opportunity for long-term investors, he added. MicroStrategy, the U.S.-based analytics firm founded by Michael Saylor, revealed on Monday it purchased nearly US$150 million worth of Bitcoin from Aug.1 to Sept. 24 at an average price of about US$27,053 per coin. As of Sept. 24, MicroStrategy held around 158,245 bitcoins, which were acquired at an aggregate purchase price of roughly US$4.68 billion. “While this is bullish and shows continued faith and strong buying pressure, crypto markets didn’t really react. Ironically, MicroStrategy’s buying announcements have historically been followed by mild pull-backs instead of rises, and the crypto space might be cautious about buying,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. “The whole thing happens in an environment where investors are still digesting the Fed’s speech hinting at higher rates for longer, and therefore presumed lower valuations for most risk assets,” added d’Anethan. Most other top 10 non-stablecoin cryptocurrencies posted gains for the past 24 hours. Cardano’s ADA led the winners. The token rose 1.10% to US$0.2453 but lost 2.49% for the week. Toncoin was the only top-10 non-stablecoin token to record a 24-hour loss. It dropped 1.83% to US$2.16 for a weekly loss of 10.28%. The total crypto market capitalization edged up 0.28% in the past 24 hours to US$1.05 trillion, while trading volume rose 40.50% to US$24.94 billion. U.S. equities drop, China’s property woes continue Image: Getty Images U.S. stock futures were trading lower as of 09:50 a.m. in Hong Kong. The Nasdaq led the losses with a 0.40% drop. Wall Street closed higher Monday following a sharp decline Friday. Most major Asian stock indexes were down Tuesday morning. Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all dipped. The Kospi led the declines with a 1.14% drop. China’s Shanghai Composite edged up 0.14%. Both the S&P and Nasdaq indexes last Friday logged their biggest weekly losses since March. That followed U.S. Federal Reserve comments last week indicating it will keep interest rates higher for longer. Chuck Carlson, chief executive officer at the U.S.-based investment advisor Horizon Investment Services, told Reuters Tuesday that he sees a “tug of war” dynamic playing among investors. There are now two groups, he said. Those concerned by Fed hawkishness and “bulls wondering maybe we have seen the correction and we can start to build from these levels higher.” Key economic data releases this week include the U.S. second-quarter gross domestic output (GDP) and personal consumption expenditure price index (PCE). Both are expected Thursday. Analysts project an acceleration in U.S. GDP growth and a slowdown in core PCE, according to Investing.com . The benchmark U.S. 10-year treasury yield rose on Monday to close at 4.542%. That was the highest closing price since October 2007. The Fed meets on Nov. 1 to make its next decision on interest rates. The CME FedWatch Tool predicts a 81.5% chance of no interest rate hike in November, up from 74.6% on Monday. It also gives a 60.9% chance of another pause in December, up from 59.3% on Monday. Meanwhile, the crisis at China’s real estate giant Evergrande Group worsened Monday. The firm’s mainland China unit, Hengda Real Estate Group Co., defaulted on principal and interest payments totaling about US$547 million due Sept. 25. The firm’s shares dropped 21.8% on Monday to their lowest closing level since Sept. 5. Evergrande filed for U.S. bankruptcy protection in August 2023 after its default on a dollar bond in December 2021 triggered widespread turmoil in the Chinese real estate industry. (Updates with equity section.)', 'Bitcoin traded flat below US$26,300 Tuesday morning in Asia. Ether also edged up but remained below the US$1,600 mark. Most other top 10 non-stablecoin cryptocurrencies, while recording marginal gains in the past 24 hours, logged losses for the week. Cardano’s ADA led the winners. Cryptos, along with global equities, face pressure from interest rate hike concerns and rising treasury yields. U.S. stock futures were flat during early morning trading in Asia after Wall Street closed higher on Monday. That rise broke a four-day losing streak triggered by hawkishness from the U.S. Federal Reserve.\nBitcoin was little changed as of 07:40 a.m. in Hong Kong, trading at US$26,276.60 for a weekly loss of 1.78%, according toCoinMarketCapdata. The world’s largest cryptocurrency dropped to US$26,011.47 on Monday evening, the lowest price since Sept. 13.\nEther also remained flat. It edged up 0.35% to US$1,586.87 but is down 3.06% for the past seven days. The token touched a high of US$1,595.84 on early Tuesday morning, but failed to move above the US$1,600 resistance level.\n“Cryptocurrency market sentiment remains weak, amid declines in global stock markets, a strong dollar and rising yields putting pressure on risk assets,” Hani Abuagla, senior market analyst at online trading broker XTB MENA, said in an emailed comment.\n“The economic policies enacted by central banks, particularly the Federal Reserve, have redirected capital towards less risky investments such as government bonds,” said Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International, in an emailed note.\n“These bonds currently offer an attractive risk/reward ratio, offering a passive income while mitigating portfolio risk,” Greco added.\nCiting data from blockchain tracker Glassnode, XTB MENA’s Abuagla noted that over 97.5% of addresses owned by short-term Bitcoin holders are posting losses — an 11 month high. Short-term holders (STH) are those traders that have bought Bitcoin over the last 155 days.\n“This may mean that the pressure to sell BTC at a loss in the STH pool may be growing, as evidenced by the previous pattern of on-chain behavior (when the price fell below the average STH purchase price of BTC),” said Abuagla.\nMeanwhile, Abuagla said that a drop in Bitcoin prices could be a “contrary signal” indicating an oversold market. That may present a potential accumulation opportunity for long-term investors, he added.\nMicroStrategy, the U.S.-based analytics firm founded by Michael Saylor,revealedon Monday it purchased nearly US$150 million worth of Bitcoin from Aug.1 to Sept. 24 at an average price of about US$27,053 per coin.\nAs of Sept. 24, MicroStrategy held around 158,245 bitcoins, which were acquired at an aggregate purchase price of roughly US$4.68 billion.\n“While this is bullish and shows continued faith and strong buying pressure, crypto markets didn’t really react. Ironically, MicroStrategy’s buying announcements have historically been followed by mild pull-backs instead of rises, and the crypto space might be cautious about buying,” said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\n“The whole thing happens in an environment where investors are still digesting the Fed’s speech hinting at higher rates for longer, and therefore presumed lower valuations for most risk assets,” added d’Anethan.\nMost other top 10 non-stablecoin cryptocurrencies posted gains for the past 24 hours. Cardano’s ADA led the winners. The token rose 1.10% to US$0.2453 but lost 2.49% for the week.\nToncoin was the only top-10 non-stablecoin token to record a 24-hour loss. It dropped 1.83% to US$2.16 for a weekly loss of 10.28%.\nThe total crypto market capitalization edged up 0.28% in the past 24 hours to US$1.05 trillion, while trading volume rose 40.50% to US$24.94 billion.\nU.S. stock futures were trading lower as of 09:50 a.m. in Hong Kong. The Nasdaq led the losses with a 0.40% drop. Wall Street closed higher Monday following a sharp decline Friday.\nMost major Asian stock indexes were down Tuesday morning. Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei 225 all dipped. The Kospi led the declines with a 1.14% drop. China’s Shanghai Composite edged up 0.14%.\nBoth the S&P and Nasdaq indexes last Friday logged their biggest weekly losses since March. That followed U.S. Federal Reserve comments last week indicating it will keep interest rates higher for longer.\nChuck Carlson, chief executive officer at the U.S.-based investment advisor Horizon Investment Services, toldReutersTuesday that he sees a “tug of war” dynamic playing among investors. There are now two groups, he said. Those concerned by Fed hawkishness and “bulls wondering maybe we have seen the correction and we can start to build from these levels higher.”\nKey economic data releases this week include the U.S. second-quarter gross domestic output (GDP) and personal consumption expenditure price index (PCE). Both are expected Thursday. Analysts project an acceleration in U.S. GDP growth and a slowdown in core PCE, according toInvesting.com.\nThe benchmark U.S. 10-year treasury yield rose on Monday to close at 4.542%. That was thehighest closing pricesince October 2007.\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 81.5% chance of no interest rate hike in November, up from 74.6% on Monday. It also gives a 60.9% chance of another pause in December, up from 59.3% on Monday.\nMeanwhile, the crisis at China’s real estate giant Evergrande Group worsened Monday. The firm’s mainland China unit, Hengda Real Estate Group Co.,defaultedon principal and interest payments totaling about US$547 million due Sept. 25. The firm’s shares dropped 21.8% on Monday to their lowest closing level since Sept. 5.\nEvergrandefiledfor U.S. bankruptcy protection in August 2023 after itsdefaulton a dollar bond in December 2021 triggered widespread turmoil in the Chinese real estate industry.\n(Updates with equity section.)', 'For greater crypto adoption to occur, we need traditional finance (TradFi) anddecentralized finance(DeFi) to join forces in symbiotic harmony and usher in together a new era of financial evolution. This convergence holds the key to unlocking mass adoption, but it will require more time and greater collaboration.\nAgainst the backdrop of current U.S. hostility toward crypto, a glimmer of optimism has emerged.PayPal has made historyby becoming the first major U.S.-based payment service provider to introduce a stablecoin called PayPal USD (PYUSD), which is pegged to the U.S. dollar. The involvement of a major global payment service marks a pivotal moment for the cryptocurrency industry as it instills a newfound level of trust into the often turbulent crypto landscape.\nHowever, it is crucial to exercise caution and acknowledge that the full impact of PayPal’s entry into the crypto sphere will only be realized when several key components fall into place.\nIn its current form, PYUSD can only be used in PayPal’s own ecosystem, thereby limiting its strength as a stablecoin. For PYUSD to be a well-rounded product, it must be transient between Web2 and Web3 and operate across multiple blockchains. In order to achieve this, PYUSD also needs to be listed on centrally backed exchanges and decentralized exchanges. Doing so will inject PYUSD with the liquidity required for it to support use cases across centralized exchanges, decentralized exchanges, DeFi protocols, and blockchains, thereby unlocking its true potential.\nTherefore, while PayPal’s Web3 venture is certainly noteworthy, it represents just a small victory in the grander battle of legitimizing cryptocurrency as a globally recognized and regulated industry. It is another case of isolated progress that spotlights the many bridges that need casting between TradFi and DeFi before the convergence can be complete.\nBridging the gap between TradFi and DeFi will take time and collaboration, utilizing the various strengths that each sector possesses.\nTradFi institutions offer more robust risk management strategies than DeFi protocols, and inherently offer a heightened environment of security and credibility, thereby making them attractive options for individuals who remain cautious about embracing digital assets. DeFi’s innovation offers users more transparency and autonomy and can reach audiences who have historically been excluded from financial systems.\nAs traditional financial companies delve into the crypto world, the difficulty in striking a balance between stability sought by traditional users, and innovation and autonomy of the crypto market is still a major pain point for the crypto ecosystem.\nThis is where PayPal’s legacy of innovation and steadiness comes into play. PYUSD provides a safer entry point for non-native crypto investors and benefits from PayPal’s reputation for stability, security and regulatory compliance. However, its heavily centralized nature comes with its own roadblocks. The unbanked still cannot access PYUSD or Web3 as PayPal requires users to have a bank account. Additionally, even if PayPal offers this service beyond America, we have to question how effective it will be considering that the developing world does not widely utilize this service.\nPYUSD could therefore still benefit from the autonomy of DeFi, while DeFi can also greatly benefit from the existing network of PYUSD.\xa0 If we can build a complementary relationship between Web2 and Web3, and TradFi and DeFi, that encapsulates credibility, innovation, and accessibility, we hold the potential to supercharge the global economy and push institutional adoption of digital assets.\nPaypal’s stablecoin launch is one of many noteworthy, yet isolated, developments involving financial companies in 2023. Recently many leaders of the financial world have announced their increasing interest in the crypto industry. Jacobi, for example, was the first to have theirspot Bitcoin exchange-traded fundlisted in Europe. Visa has been actively testingpayment of gas feesin fiat currency with a credit or debit card. Additionally, eveninstitutional participation in liquid stakinghas increased three-fold since the Shanghai Upgrade.\nWhile these developments help to shift the reputation of crypto assets from merely risky endeavors to credible investment options, they remain siloed developments as they have yet to facilitate a seamless transition between Web2 and Web3. For example, PYUSD can only be accessed by PayPal’s U.S. customer base through Venmo, thus it only provides banked Americans with yet another way to transact using some digital representation of the U.S. dollar.\nA major obstacle to mass crypto adoption is that cryptocurrencies can be intimidating for the average individual, laden with complex technical jargon and intricacies. This is where traditional financial institutions and Web2 technology could play a crucial role by simplifying the information and making it more accessible to a broader audience.\nHowever, relying on the traditional finance sector to work in isolation from the DeFi ecosystem to onboard new users has high risks. The potential of traditional finance is limited from reaching all demographics, especially the underbanked, as profit motives can lead to neglecting marginalized communities. Here, the synergy of TradFi and DeFi becomes vital. DeFi offers transparency, autonomy and accessibility against the often opaque and exclusive nature of TradFi.\nThe convergence currently sits as multiple lines in the sand slowly moving toward each other. Merging these lines will be the key to crypto’s mass adoption, but getting there will take time and collaboration.\nCertain factors are required for mass adoption. Continued momentum within the crypto ecosystem is evident, marked by continuous innovation and regulatory advancements. Notably, several countries, includingSingapore,Hong KongandFrance, have demonstrated commendable commitment to refining regulatory frameworks, thereby creating a more conducive environment for growth.\nWe have seen progress in the evolving landscape ofcentral bank digital currencies. This trajectory has facilitated collaborations between blockchain entities and central banks, resulting in the exploration of streamlined trade settlements across economies like the use of the digital yuan for direct trade settlements.\nIn addition, as demonstrated by successful real estate trials in Hong Kong and JPMorgan executing the first DeFi transaction for Singapore’s central bank, thetokenization of tangible assetshas the potential to transform market dynamics. Tokenization trends have prominently emerged in Asia, with proactive regulatory frameworks being established in jurisdictions such as Thailand, Hong Kong, Singapore and Japan to foster the expansion and embrace of tokenization.\nNonetheless, more is needed for comprehensive development, and macro conditions play a crucial role in facilitating the market turnaround. For instance, current high interest rates deter institutional investment into crypto as it offers investors lower returns than through bonds. When inflation lowers to more reasonable levels and governments move to decrease interest rates, we would then start to see greater institutional participation in crypto.\nThe undercurrent of skepticism about blockchain from mainstream audiences also cannot be ignored. While mainstream forays have made progressive strides, their impact remains localized.\nDeFi and TradFi have their own advantages, and when fused together, we could see a new chapter of the global economy.', 'For greater crypto adoption to occur, we need traditional finance (TradFi) and decentralized finance (DeFi) to join forces in symbiotic harmony and usher in together a new era of financial evolution. This convergence holds the key to unlocking mass adoption, but it will require more time and greater collaboration. Against the backdrop of current U.S. hostility toward crypto, a glimmer of optimism has emerged. PayPal has made history by becoming the first major U.S.-based payment service provider to introduce a stablecoin called PayPal USD (PYUSD), which is pegged to the U.S. dollar. The involvement of a major global payment service marks a pivotal moment for the cryptocurrency industry as it instills a newfound level of trust into the often turbulent crypto landscape. However, it is crucial to exercise caution and acknowledge that the full impact of PayPal’s entry into the crypto sphere will only be realized when several key components fall into place. In its current form, PYUSD can only be used in PayPal’s own ecosystem, thereby limiting its strength as a stablecoin. For PYUSD to be a well-rounded product, it must be transient between Web2 and Web3 and operate across multiple blockchains. In order to achieve this, PYUSD also needs to be listed on centrally backed exchanges and decentralized exchanges. Doing so will inject PYUSD with the liquidity required for it to support use cases across centralized exchanges, decentralized exchanges, DeFi protocols, and blockchains, thereby unlocking its true potential. Therefore, while PayPal’s Web3 venture is certainly noteworthy, it represents just a small victory in the grander battle of legitimizing cryptocurrency as a globally recognized and regulated industry. It is another case of isolated progress that spotlights the many bridges that need casting between TradFi and DeFi before the convergence can be complete. Bringing together TradFi and DeFi Bridging the gap between TradFi and DeFi will take time and collaboration, utilizing the various strengths that each sector possesses. Story continues TradFi institutions offer more robust risk management strategies than DeFi protocols, and inherently offer a heightened environment of security and credibility, thereby making them attractive options for individuals who remain cautious about embracing digital assets. DeFi’s innovation offers users more transparency and autonomy and can reach audiences who have historically been excluded from financial systems. As traditional financial companies delve into the crypto world, the difficulty in striking a balance between stability sought by traditional users, and innovation and autonomy of the crypto market is still a major pain point for the crypto ecosystem. This is where PayPal’s legacy of innovation and steadiness comes into play. PYUSD provides a safer entry point for non-native crypto investors and benefits from PayPal’s reputation for stability, security and regulatory compliance. However, its heavily centralized nature comes with its own roadblocks. The unbanked still cannot access PYUSD or Web3 as PayPal requires users to have a bank account. Additionally, even if PayPal offers this service beyond America, we have to question how effective it will be considering that the developing world does not widely utilize this service. PYUSD could therefore still benefit from the autonomy of DeFi, while DeFi can also greatly benefit from the existing network of PYUSD.\xa0 If we can build a complementary relationship between Web2 and Web3, and TradFi and DeFi, that encapsulates credibility, innovation, and accessibility, we hold the potential to supercharge the global economy and push institutional adoption of digital assets. Traversing from Web2 to Web3 Paypal’s stablecoin launch is one of many noteworthy, yet isolated, developments involving financial companies in 2023. Recently many leaders of the financial world have announced their increasing interest in the crypto industry. Jacobi, for example, was the first to have their spot Bitcoin exchange-traded fund listed in Europe. Visa has been actively testing payment of gas fees in fiat currency with a credit or debit card. Additionally, even institutional participation in liquid staking has increased three-fold since the Shanghai Upgrade. While these developments help to shift the reputation of crypto assets from merely risky endeavors to credible investment options, they remain siloed developments as they have yet to facilitate a seamless transition between Web2 and Web3. For example, PYUSD can only be accessed by PayPal’s U.S. customer base through Venmo, thus it only provides banked Americans with yet another way to transact using some digital representation of the U.S. dollar. Why TradFi and DeFi shouldn’t be silos A major obstacle to mass crypto adoption is that cryptocurrencies can be intimidating for the average individual, laden with complex technical jargon and intricacies. This is where traditional financial institutions and Web2 technology could play a crucial role by simplifying the information and making it more accessible to a broader audience. However, relying on the traditional finance sector to work in isolation from the DeFi ecosystem to onboard new users has high risks. The potential of traditional finance is limited from reaching all demographics, especially the underbanked, as profit motives can lead to neglecting marginalized communities. Here, the synergy of TradFi and DeFi becomes vital. DeFi offers transparency, autonomy and accessibility against the often opaque and exclusive nature of TradFi. What it will take for convergence to happen The convergence currently sits as multiple lines in the sand slowly moving toward each other. Merging these lines will be the key to crypto’s mass adoption, but getting there will take time and collaboration. Certain factors are required for mass adoption. Continued momentum within the crypto ecosystem is evident, marked by continuous innovation and regulatory advancements. Notably, several countries, including Singapore , Hong Kong and France , have demonstrated commendable commitment to refining regulatory frameworks, thereby creating a more conducive environment for growth. We have seen progress in the evolving landscape of central bank digital currencies . This trajectory has facilitated collaborations between blockchain entities and central banks, resulting in the exploration of streamlined trade settlements across economies like the use of the digital yuan for direct trade settlements. In addition, as demonstrated by successful real estate trials in Hong Kong and JPMorgan executing the first DeFi transaction for Singapore’s central bank, the tokenization of tangible assets has the potential to transform market dynamics. Tokenization trends have prominently emerged in Asia, with proactive regulatory frameworks being established in jurisdictions such as Thailand, Hong Kong, Singapore and Japan to foster the expansion and embrace of tokenization. Nonetheless, more is needed for comprehensive development, and macro conditions play a crucial role in facilitating the market turnaround. For instance, current high interest rates deter institutional investment into crypto as it offers investors lower returns than through bonds. When inflation lowers to more reasonable levels and governments move to decrease interest rates, we would then start to see greater institutional participation in crypto. The undercurrent of skepticism about blockchain from mainstream audiences also cannot be ignored. While mainstream forays have made progressive strides, their impact remains localized. DeFi and TradFi have their own advantages, and when fused together, we could see a new chapter of the global economy.', 'The odds of a government shutdown are also front-of-mind as Congress spars over the federal budget. Reuters/Brendan McDermid US stocks were volatile on Monday as investors mulled higher interest rates and a looming government shutdown. The government appears on track to shutdown by October 1 without a deal on spending for the coming year. Major indexes clawed back the steepest losses to end slightly higher on the day. US stocks ended the trading session slightly higher on Monday as investors eyed risks stemming from higher-for-longer interest rates and the growing odds of a government shutdown. Trading was volatile throughout the day, with stocks retracing their steepest losses to end the day narrowly in the green. The S&P 500 is down around 4% for the month. That puts the index track to notch its second-straight month of losses, and in line for its its worst monthly performance since the start of 2023. Markets have been jittery over the prospects of higher-for-longer interest rates from the Fed, which have sent bond yields surging in September. Yields on the 10-year US Treasury rose another 10 basis points on Monday to 4.544%, while yields on the two-year US Treasury rose t to 5.136%. Recession risks are also front-of-mind as higher interest rates signal tight financial conditions. The New York Fed has priced in a 61% chance the US will fall into a downturn by August of next year. Meanwhile, revised GDP data is set to roll out this Thursday, which could give more insight into economic growth trends. Markets are also closely watching Congress\' progress on passing a budget for the next fiscal year. As of now, a government shutdown is looking more likely than not , some commentators say, which could spark short-term downside for stocks as well as headwinds to economic growth over the coming quarter. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Monday: S&P 500 : 4,337.44, up 0.4% Dow Jones Industrial Average : 34,006.88, up 0.13% (+43.04 points) Nasdaq Composite : 13,271.32, up 0.45% Here\'s what else is going on today: CHART OF THE DAY : The S&P 500\'s top 7 stocks have soared more than 50% in 2023, while everything else is \'basically flat." The US economy faces four key risks that could plunge it into a recession. Warren Buffett\'s eye for quality stocks like Apple and Coca-Cola is the key to his success, Jeremy Grantham said. The US\'s ballooning debt problem means its economy could end up like China\'s , according to one market expert. The surge in oil prices isn\'t going to derail the US economy , according to Goldman Sachs. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil slipped 0.1% to $89.92 a barrel. Brent crude , the international benchmark, inched higher 0.15% to $93.40 a barrel. Gold fell 0.5% to $1,934.80 per ounce. The yield on the 10-year Treasury bond jumped 10 basis points to 4.542%. Bitcoin dipped 0.7% to $26,294. Read the original article on Business Insider', '• US stocks were volatile on Monday as investors mulled higher interest rates and a looming government shutdown.\n• The government appears on track to shutdown by October 1 without a deal on spending for the coming year.\n• Major indexes clawed back the steepest losses to end slightly higher on the day.\nUS stocks ended the trading session slightly higher on Monday as investors eyed risks stemming from higher-for-longer interest rates and the growing odds of a government shutdown.\nTrading was volatile throughout the day, with stocks retracing their steepest losses to end the day narrowly in the green.\nThe S&P 500 is down around 4% for the month. That puts the index track to notch its second-straight month of losses, and in line for its its worst monthly performance since the start of 2023.\nMarkets have been jittery over the prospects of higher-for-longer interest rates from the Fed, which have sent bond yields surging in September. Yields on the 10-year US Treasury rose another 10 basis points on Monday to 4.544%, while yields on the two-year US Treasury rose t to 5.136%.\nRecession risks are also front-of-mind as higher interest rates signal tight financial conditions. The New York Fed has priced in a 61% chance the US will fall into a downturn by August of next year. Meanwhile, revised GDP data is set to roll out this Thursday, which could give more insight into economic growth trends.\nMarkets are also closely watching Congress\' progress on passing a budget for the next fiscal year. As of now, agovernment shutdown is looking more likely than not, some commentators say, which could spark short-term downside for stocks as well as headwinds to economic growth over the coming quarter.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Monday:\n• S&P 500:4,337.44, up 0.4%\n• Dow Jones Industrial Average:34,006.88, up 0.13% (+43.04 points)\n• Nasdaq Composite:13,271.32, up 0.45%\nHere\'s what else is going on today:\n• CHART OF THE DAY: The S&P 500\'s top 7 stocks have soared more than 50% in 2023, while everything else is \'basically flat."\n• The US economy faces four key risksthat could plunge it into a recession.\n• Warren Buffett\'s eye for quality stockslike Apple and Coca-Cola is the key to his success, Jeremy Grantham said.\n• The US\'s ballooning debt problem means its economy could end up like China\'s, according to one market expert.\n• The surge in oil prices isn\'t going to derail the US economy, according to Goldman Sachs.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil slipped 0.1% to $89.92 a barrel.Brent crude, the international benchmark, inched higher 0.15% to $93.40 a barrel.\n• Goldfell 0.5% to $1,934.80 per ounce.\n• The yield on the 10-year Treasury bond jumped 10 basis points to 4.542%.\n• Bitcoindipped 0.7% to $26,294.\nRead the original article onBusiness Insider', "Bankrupt crypto lender Celsius' creditors have voted to approve a plan that would return 67%-85% of holdings back to them,according to a voting declaration filingby restructuring specialist Stretto that awaits final approval from the court.\nThere have been objections to the plan, includingfrom the U.S. Trustee. The U.S. Bankruptcy Court for the Southern District of New York will hold a confirmation hearing for final approval on Oct. 2. The Judge overseeing the case hadapproved the voting procedure in August 2023.\nMost of the classes in the bankruptcy claim were passed by more than 98% votes in favor of the reorganization that would also see the sale of assets to crypto consortiumFahrenheit Holdingsthat includes Arrington Capital and miner U.S. Bitcoin Corp. Fahrenheitwon a bid to acquirethe insolvent lender Celsius Network in May 2023.\nThe overwhelming vote marks another step towards the end of Celsius' bankruptcy and the return of funds to customers. Celsius filed forbankruptcy in Julylast year as the crypto winter set in and its Chief Executive Officer Alex Mashinsky resigned as CEO in September 2022. In July 2023, Mashinsky was arrested on fraud charges and for manipulating the price of the CEL token, whichhe has denied.\nAs Mashinsky was arrested, Celsius made a $4.7 billion settlement with the U.S. over fraud allegations and said this would not affect reorganization plans. Mashinsky was later released on a $40 million bond, and a courtrecently ordered his banking and real estate assets frozen.\nJack Schickler contributed to reporting.", "Bankrupt crypto lender Celsius' creditors have voted to approve a plan that would return 67%-85% of holdings back to them, according to a voting declaration filing by restructuring specialist Stretto that awaits final approval from the court. There have been objections to the plan, including from the U.S. Trustee . The U.S. Bankruptcy Court for the Southern District of New York will hold a confirmation hearing for final approval on Oct. 2. The Judge overseeing the case had approved the voting procedure in August 2023 . Most of the classes in the bankruptcy claim were passed by more than 98% votes in favor of the reorganization that would also see the sale of assets to crypto consortium Fahrenheit Holdings that includes Arrington Capital and miner U.S. Bitcoin Corp. Fahrenheit won a bid to acquire the insolvent lender Celsius Network in May 2023. The overwhelming vote marks another step towards the end of Celsius' bankruptcy and the return of funds to customers. Celsius filed for bankruptcy in July last year as the crypto winter set in and its Chief Executive Officer Alex Mashinsky resigned as CEO in September 2022. In July 2023, Mashinsky was arrested on fraud charges and for manipulating the price of the CEL token, which he has denied . As Mashinsky was arrested, Celsius made a $4.7 billion settlement with the U.S. over fraud allegations and said this would not affect reorganization plans. Mashinsky was later released on a $40 million bond, and a court recently ordered his banking and real estate assets frozen . Jack Schickler contributed to reporting.", 'The PayBito chief asserts the global anti- crypto narrative is far from reality. The latest Bitcoin ESG report from leading accounting firm KPMG supports this. PALO ALTO, Calif. , Sept. 26, 2023 /PRNewswire-PRWeb/ --\xa0The recent KPMG report on Bitcoin \'s potential contributions to global ESG frameworks is positive. This counters the mainstream concern about Bitcoin \'s energy usage patterns. PayBito CEO Raj Chowdhury appreciates the firm\'s efforts to bring truth to the forefront. He added reliable audits from the world\'s top accounting firms help improve investor confidence, leading to increased participation and development. Bitcoin ESG 2.0 Report: Mainstream media remained unfair and inaccurate in its criticism of Bitcoin \'s energy consumption, with some reports even declaring the world\'s first crypto to consume all of the world\'s energy within 2020. The KPMG report counters this notion, showing the significance of Bitcoin across the 3 pillars of the ESG project. The Significance of the Report: The PayBito CEO, also a blockchain pioneer, stated the following in reference to the report, "KPMG\'s report highlights Bitcoin \'s positive ESG contribution. This is a big boost to the global crypto community. It conveys the industry\'s positive trajectory." The crypto industry is far from perfect. But, it is not as bad as the mainstream industry\'s propaganda. The commoners should understand the current scenario and not make misinformed decisions. Key Takeaways from the Report: 1. Environment- The report offers substantial insight into the extent of Bitcoin mining energy consumption. Bitcoin \'s PoW mechanism necessitates hashing and subsequent mining, the latter of which is essential to prevent double-spend. Mining requires the use of energy-intensive ASIC devices. However, Bitcoin mining consumes just 0.55% of the world\'s total energy used yearly at 10TWh. This is almost similar to the energy consumed by tumble dryers. Bitcoin emission is the second-smallest contributor in the world. 2. Social- KPMG countered the common claims of crypto being the source of criminal activities. Money laundering accounts for 2% to 5% of global GDP, and Bitcoin \'s part is 0.24%. The report highlights the opportunities for financial inclusion. It includes Bitcoin \'s contribution to Ukraine\'s war with Russia and electricity for Africa . The financial inclusion aspect also includes crypto innovations reducing the market entry barrier for individuals and enterprises considering brokerage. PayBito\'s white label crypto broker platform allows entrepreneurs to start an exchange in three days, with an affordable monthly subscription. Story continues 3. Governance- The report also highlights the decentralized attribute of the network. Efforts to alter the inherent traits of Bitcoin results in forking and shifting away from the main Bitcoin network. Examples include bitcoin Cash(BCH) which considered increasing Bitcoin \'s block size to 8 Mb. BCH has never been as successful as Bitcoin . Bitcoin \'s structure is robust and immutable, even by those in power. Wrapping Up: Throughout history, there have been numerous instances where individuals and societies have resisted change, often to their detriment. The mainstream criticism of Bitcoin is a prime example of this resistance. However, as research and in-depth analysis continue to reveal the true potential of Bitcoin , those who were willing to embrace this change are reaping the benefits. The recent KPMG report serves as a powerful testament to the positive contributions of Bitcoin in terms of ESG (Environmental, Social, and Governance) factors, further bolstering the perception of cryptocurrencies in the mainstream. About PayBito: PayBito is an online platform for launching a crypto business in Crypto Trading, Brokerage, Payments, Tokenization, ICO and banking. It is available in the web version as well as in iOS and Android stores. PayBito services include white label crypto exchange solutions , white-label payment gateway, exchange affiliate, and coin listing. PayBito offers some of the best rates and top-notch security in the crypto world. Media Contact Coleen Facete, Hashcash Digest, +14159662907, [email protected] Cision View original content to download multimedia: https://www.prweb.com/releases/kpmgs-report-highlighting-bitcoins-positive-esg-contributions-boosts-crypto-perception-paybito-ceo-raj-chowdhury-301937364.html SOURCE PayBito View comments', 'The PayBito chief asserts the global anti- crypto narrative is far from reality. The latest Bitcoin ESG report from leading accounting firm KPMG supports this. PALO ALTO, Calif. , Sept. 26, 2023 /PRNewswire-PRWeb/ --\xa0The recent KPMG report on Bitcoin \'s potential contributions to global ESG frameworks is positive. This counters the mainstream concern about Bitcoin \'s energy usage patterns. PayBito CEO Raj Chowdhury appreciates the firm\'s efforts to bring truth to the forefront. He added reliable audits from the world\'s top accounting firms help improve investor confidence, leading to increased participation and development. Bitcoin ESG 2.0 Report: Mainstream media remained unfair and inaccurate in its criticism of Bitcoin \'s energy consumption, with some reports even declaring the world\'s first crypto to consume all of the world\'s energy within 2020. The KPMG report counters this notion, showing the significance of Bitcoin across the 3 pillars of the ESG project. The Significance of the Report: The PayBito CEO, also a blockchain pioneer, stated the following in reference to the report, "KPMG\'s report highlights Bitcoin \'s positive ESG contribution. This is a big boost to the global crypto community. It conveys the industry\'s positive trajectory." The crypto industry is far from perfect. But, it is not as bad as the mainstream industry\'s propaganda. The commoners should understand the current scenario and not make misinformed decisions. Key Takeaways from the Report: 1. Environment- The report offers substantial insight into the extent of Bitcoin mining energy consumption. Bitcoin \'s PoW mechanism necessitates hashing and subsequent mining, the latter of which is essential to prevent double-spend. Mining requires the use of energy-intensive ASIC devices. However, Bitcoin mining consumes just 0.55% of the world\'s total energy used yearly at 10TWh. This is almost similar to the energy consumed by tumble dryers. Bitcoin emission is the second-smallest contributor in the world. 2. Social- KPMG countered the common claims of crypto being the source of criminal activities. Money laundering accounts for 2% to 5% of global GDP, and Bitcoin \'s part is 0.24%. The report highlights the opportunities for financial inclusion. It includes Bitcoin \'s contribution to Ukraine\'s war with Russia and electricity for Africa . The financial inclusion aspect also includes crypto innovations reducing the market entry barrier for individuals and enterprises considering brokerage. PayBito\'s white label crypto broker platform allows entrepreneurs to start an exchange in three days, with an affordable monthly subscription. Story continues 3. Governance- The report also highlights the decentralized a
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-26
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $510,460,144,838
- Hash Rate: 386164411.7117884
- Transaction Count: 309789.0
- Unique Addresses: 624716.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.46
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: In this article, we will be taking a look at the 25 countries that mine the most Bitcoin. To skip our detailed analysis, you can go directly to see the 5 countries that mine the most Bitcoin . Bitcoin, and bitcoin mining in particular, has been one of the most controversial discussions in the past decade, with arguments ranging from it being the savior of private finance to it being considered one of the biggest scams in history. Regardless of what one may think, and despite volatile fluctuations, Bitcoin started to become mainstream in 2017, 8 years after its creation, when the first Bitcoin bubble resulted in explosive popularity, which in turned led to many people losing their life savings after the crash happened. Amid the Covid-19 pandemic, Bitcoin then reached its best ever run in 2021, with an all-time high of around $68,000 in November 2021, only to crash spectacularly over the next year as well. However, by that point in time, the demand for cryptocurrency, not just limited to Bitcoin, had increased massively, with other cryptocurrencies growing even more and major cryptocurrency exchanges such as Coinbase Global, Inc. (NASDAQ: COIN ) going public in 2021, and is among the best cryptocurrency exchanges and apps in May 2023 . 25 countries that mine the most Bitcoin Companies driving Bitcoin mining For Bitcoin to be created, it has to be mined, a process which has a significant environmental footprint and has been called out for being damaging to the environment. As cryptocurrencies were seeing their values soar, more and more people started to mine Bitcoin due to higher potential margins, especially in the countries that mine the most Bitcoin, and an important component of possessing the firepower needed to be able to mine Bitcoin are graphics cards, which is where NVIDIA Corporation (NASDAQ:NVDA) came in. One of the only companies in the world with a market cap of $1 trillion, it's known more for being a top AI company right now, but is also famous among gamers and cryptocurrency miners for its GPUs. With enthusiasm for cryptocurrency declining as the value of top such currencies fell amid scandals including the collapse of FTX (even though it isn't among the biggest bankruptcies in American history ) and the collapse of Celsius, there has been some impact on NVIDIA Corporation (NASDAQ:NVDA). However, the cryptocurrency, while still far away from all-time highs, has had a new lease on life in 2023, with Bitcoin's value increasing and more people in the countries that mine the most Bitcoin once again increasing their mining operations, and while AI has been the biggest driver of NVIDIA Corporation's (NASDAQ:NVDA) more than 200% YTD share price gain, cryptocurrency has played a part. At its peak, the use of GPUs were so in demand, even the SEC took notice with the regulator stating the company “failed to disclose that crypto mining was a significant element of its material revenue growth from the sale of its GPUs designed and marketed for gaming”, and resulted in a $5.5 million fine. Story continues One challenge that companies which produce equipment used in cryptocurrency mining is Ethereum's shift form proof of work to proof of stake will significantly reduce mining requirements and hence, a huge part of demand for cryptocurrency will end as the second largest cryptocurrency will no longer require it. Cryptocurrency industry outlook While the top cryptocurrencies have performed brilliantly in the first half of 2023, it is important to remember that Bitcoin and Ethereum, the two biggest cryptocurrencies in the world, are nowhere near their all-time highs, and so far, have been a bit dismal in the second half of 2023 despite a court ruling against the SEC and in favor of the company which made XRP. Recently, another major cryptocurrency called Worldcoin was launched by the CEO of OpenAI, the company responsible for ChatGPT and the project focuses on identifying whether a person online is real or AI, something which is becoming an increasing concern in today's world. Meanwhile, though cryptocurrency is currently mainly focused on trading even while providing various applications, it is expected to move more towards nontrading uses as echoed by Coinbase Global, Inc. (NASDAQ:COIN) in its Q2 2023 earnings call "The first 10 years in crypto were primarily about trading, but we've seen our customer base shift its activity over time where the majority of our active customers now do something with crypto other than trading. My belief is that the next 10 years in crypto will become predominantly about nontrading use cases. So, what could some of those be? Well, payments is a big one. As the scalability of blockchain improves by moving to Layer 2 solutions like Lightning, Optimism, and Base, we'll see payments emerge as a larger use case. Getting more scalable blockchains will be as important as the internet moving from dial-up to broadband. We'll also see the rise of decentralized identity systems with decentralized messaging and social apps that will accompany those connected right into those decentralized identities." Coinbase Global, Inc. (NASDAQ:COIN) has had an excellent performance in the first two quarters, which has led to its share price increasing by 120% YTD. Methodology To determine the countries that mine the most Bitcoin, we referred a study carried out by Cambridge University which shows the percentage share of each country by month. We have considered statistics for both January 2022 and December 2021, and used the average of these rankings to determine our list. 25. Italy Monthly hashrate share in Jan 22: 0.11% Italy has one of the highest prices for Bitcoin mining, which is why miners are considering other countries, and if this continues, Italy will soon drop off our list. 24. Mexico Monthly hashrate share in Jan 22: 0.11% Mexico's importance in cryptocurrency mining can be seen by the fact that the World Digital Mining Summit 2022 was held in Cancun where the focus was on proof-of-work power, not to mention exploring additional industry trends. 23. Iran Monthly hashrate share in Jan 22: 0.12% Iran has used Bitcoin mining as a method to evade sanctions, as earnings from cryptocurrencies allow it to spend hundreds of millions of dollars while avoiding embargoes posted by Western nations. 22. Libya Monthly hashrate share in Jan 22: 0.14% Despite being an attractive destination for Bitcoin miners, Libya's government has also started imposing crackdowns in the country, with a recent one resulting in dozens of arrests. 21. Paraguay Monthly hashrate share in Jan 22: 0.15% One of the biggest Bitcoin mining countries in South America, Paraguay recently saw Bitfarms, a Bitcoin mining company, expand operations further after it managed to secure two hydropower contracts. 20. Ukraine Monthly hashrate share in Jan 22: 0.15% While Ukraine has benefited massively from cryptocurrency donations in the Russia-Ukraine war, but is likely to drop out of this list as Bitcoin mining operations have been hugely impacted from the war. 19. Netherlands Monthly hashrate share in Jan 22: 0.21% A giant greenhouse in the Netherlands is actually using heat from Bitcoin mining to grow cash crops including tulips, with both ironically being associated with financial bubble at their peak. 18. France Monthly hashrate share in Jan 22: 0.21% One month ago, the first fully-licensed cryptocurrency provider was formed as a subsidiary of Société Générale. 17. Georgia Monthly hashrate share in Jan 22: 0.23% One of the biggest Bitcoin mining companies in the world CleanSpark, Inc. (NASDAQ: CLSK ) is purchasing 2 Georgian facilities for a total of $9.3 million, showcasing Georgia's attractiveness to Bitcoin miners. 16. United Kingdom Monthly hashrate share in Jan 22: 0.23% The Department for Environment, Food and Rural Affairs recently gave out a contract to a company which will explore opportunities to carry out Bitcoin mining operations at UK landfill sites. 15. Japan Monthly hashrate share in Jan 22: 0.23% The biggest utility company in Japan, TEPCO, has agreed to mine Bitcoin from the excess energy it generates, partnering with a local semiconductor company in this project. 14. Brazil Monthly hashrate share in Jan 22: 0.33% Brazil is a major advocate of cryptocurrency, and in June 2023, the country's central bank provided a payment provider license to Mercado Bitcoin, a cryptocurrency exchange in the country. 13. Indonesia Monthly hashrate share in Jan 22: 0.35% While many countries in our list are clamping down on Bitcoin mining, Indonesia is exploring ways in which Bitcoin adoption will provide benefits to the country, and hence, could likely see Indonesia's rank improve in the coming years. 12. Australia Monthly hashrate share in Jan 22: 0.36% An Australian company Arkon Energy raised $22 million in November 2022 to further expand Bitcoin mining operations based on renewable energy, as Bitcoin miners try to shed their image of greatly damaging the environment. 11. Norway Monthly hashrate share in Jan 22: 0.74% There is abundant hydropower in Norway, which has contributed to many cryptocurrency miners forming their base in the Nordic country. 10. Sweden Monthly hashrate share in Jan 22: 0.84% While Sweden is among the countries with the highest Bitcoin mining rates, a major tax hike in 2023 is likely to further impact an already declining industry in the country. 9. Thailand Monthly hashrate share in Jan 22: 0.96% Bitcoin mining has been hampered by actions against miners by authorities across the world and Thailand is no exception, with thousands of cryptocurrency mining rigs seized in late 2022. 8. Ireland Monthly hashrate share in Jan 22: 1.97% The fall in Bitcoin prices has greatly reduced margins for Bitcoin miners especially in Ireland where the cost of mining Bitcoin is especially high. Globally, Bitcoin mining is said to consume more electricity in a year than the entire country of Ireland. 7. Malaysia Monthly hashrate share in Jan 22: 2.51% While Malaysia is a significant contributor to Bitcoin mining, Malaysian police destroyed over 1,000 Bitcoin mining rigs in 2021 with a steamroller, which happened after the miners stole more than $2 million worth of electricity for their mining operations. 6. Germany Monthly hashrate share in Jan 22: 3.06% Germany is considered to be the most crypto-friendly country in Europe and is unsurprisingly among the countries mining the most Bitcoin in the world. Click to continue reading and see the 5 Countries that Mine the Most Bitcoin . Suggested Articles: 25 Biggest Beef Producing Countries in the World 20 States that Produce the Most Craft Beer 12 Best High Risk Penny Stocks to Buy Now Disclosure: None. 25 countries that mine the most Bitcoin is originally published on Insider Monkey. View comments...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin dipped on Wednesday morning in Asia to trade range-bound below US$26,300. Ether edged higher but failed to reclaim the US$1,600 mark. Other top 10 non-stablecoin cryptocurrencies traded mixed in the past 24 hours, with Binance’s BNB token leading the winners. The Open Network’s (TON) Toncoin led the losers. U.S. stock futures were up during early morning trading in Asia after Wall Street recorded losses of over 1% on Tuesday. More key inflation data is expected Thursday as investors look out for signs of a U.S. recession and further interest rate hikes. Mega-cap tech giants including Amazon, Apple and Tesla led the Wall Street declines.\nBitcoin edged 0.28% lower to US$26,209.51 in the 24 hours to 07:40 a.m. in Hong Kong for a weekly loss of 3.70%, according toCoinMarketCapdata. The world’s largest cryptocurrency fell to US$26,090.71 on Tuesday evening. But it managed to stay above the US$26,000 support level maintained for the past 14 days.\nWith Bitcoin staying “firm within its September trading range,” blockchain analytics firm K33 Research wrote in an emailed note, “a narrowing trading range accompanied by a slow news cycle has provided traders with few reasons to participate actively in the market.”\nThe options pricing of Bitcoin derivatives on the CME market “shows a more positive longer term than short-term outlook but has become slightly more bearish in tandem with BTC’s price decline over the last week,” the K33 report added.\nEther was also trading flat. It edged up 0.33% to US$1,592.60 over the past 24 hours but lost 3.10% for the week. The token hit US$1,598.10 on Tuesday evening. But it failed to rise above the US$1,600 level it gave up on Sunday.\nWhile Ether is trading near a14-month lowagainst Bitcoin (0.061 BTC per ETH), that trend could be about to change, K33 report.\n“We reiterate our stance that rotating towards ETH is a sound play for the coming months, as futures-based ETFs can turn the trend. The first half of October will be pivotal in that regard, as the final deadlines for the ongoing futures ETH ETFs are coming up in this period,” wrote K33.\nMost other top 10 non-stablecoin cryptocurrencies booked losses for the past 24 hours. The exceptions were Ether, Binance’s BNB and Tron’s TRX. Toncoin continued to lead the losses. It dropped 1.66% in the past 24 hours to US$2.12 for a weekly decline of 17.75%.\nBNB, the native token of cryptocurrency exchange Binance Holdings Ltd, led the winners. The coin gained 1.06% to US$212.17, but it recorded a weekly loss of 2.30%.\nBNB’s daily rise coincided with theannouncementTuesday that Binance, the world’s largest crypto exchange, is collaborating with Japan’s largest banking group Mitsubishi UFJ Trust and Banking Corporation to issue fiat-pegged stablecoins in 2024.\nThe total crypto market capitalization dipped 0.28% in the past 24 hours to US$1.04 trillion, while trading volume dropped 10.02% to US$22.56 billion.\nU.S. stock futures were trading higher as of 09:40 a.m. in Hong Kong. The S&P 500 futures led the gains with a 0.21% increase. Wall Street closed lower Tuesday with all three major indexes booking losses of over 1%. The Nasdaq Composite led the losers with a 1.57% slide.\nMajor Asian stock indexes were mixed on Tuesday morning. China’s Shanghai Composite and Hong Kong’s Hang Seng booked gains, while South Korea’s Kospi and Japan’s Nikkei 225 dipped.\nU.S. economic data released Tuesday raised fears of recession. TheConsumer Confidence Indextracked by the Conference Board dropped to 103.0 in September, lower than the analysts’ expectation of105.5.\nThe data showed that “consumers continued to be preoccupied with rising prices in general, and for groceries and gasoline in particular,” wrote Dana Peterson, chief economist at The Conference Board.\n“Consumers also expressed concerns about the political situation and higher interest rates,” Peterson said.\nThe Expectations Index, based on consumers’ short-term outlook for income, business, and labor market conditions, declined to 73.7 in September from 83.3 in August. A reading below 80 signals a recession within the next year, according to the Conference Board.\n“Consumers may be hearing more bad news about corporate earnings, while job openings are narrowing, and interest rates continue to rise — making big-ticket items more expensive,” wrote Peterson.\nMeanwhile,new single-family home salesin the U.S. fell 8.7% to a seasonally adjusted annual rate of 675,000 in August, lower than the analysts’ projection of 698,000. The tight house supply, elevated prices and historically high mortgage rates contributed to the drop in home sales, according toBloombergon Wednesday.\nThe Federal Reserve in September kept interest rates unchanged between 5.25% and 5.50%, the highest level since early 2001. But the central bank might need to make another 25-basis-point rate hike by the end of 2023, and keep the rates higher for longer, according toremarksfrom Fed Chair Jerome Powell last Wednesday.\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 82.5% chance of no interest rate hike in November, up from 81.5% on Tuesday. It also gives a 65.8% chance of another pause in December, up from 60.9% on Tuesday\nOn the corporation front, the U.S. online retail giant Amazon.com, Inc. was among the worst performers on Tuesday. Its share price closed 4.03% lower. The Federal Trade Commission and 17 statessuedAmazon Tuesday, claiming the firm wields illegal monopoly power.\nThe share prices of technology giants Apple, Inc. and Tesla, Inc. also dropped 2.34% and 1.16 respectively on Tuesday.\nInvestors are now waiting for the U.S. second-quarter personal consumption expenditure price index (PCE) on Thursday, which will provide further insights into inflation.\nElsewhere, China’s monthly industrial profits in Augustsurprisingly rose17.2% from a year earlier, reversing a 6.7% annual decline in July. The industrial profit from January to August fell 11.7% from the same period last year. But the drop decelerated compared to a 15.5% slide in the first seven months of the year.\n(Updates with equity section.)', 'Bitcoin dipped on Wednesday morning in Asia to trade range-bound below US$26,300. Ether edged higher but failed to reclaim the US$1,600 mark. Other top 10 non-stablecoin cryptocurrencies traded mixed in the past 24 hours, with Binance’s BNB token leading the winners. The Open Network’s (TON) Toncoin led the losers. U.S. stock futures were up during early morning trading in Asia after Wall Street recorded losses of over 1% on Tuesday. More key inflation data is expected Thursday as investors look out for signs of a U.S. recession and further interest rate hikes. Mega-cap tech giants including Amazon, Apple and Tesla led the Wall Street declines.\nBitcoin edged 0.28% lower to US$26,209.51 in the 24 hours to 07:40 a.m. in Hong Kong for a weekly loss of 3.70%, according toCoinMarketCapdata. The world’s largest cryptocurrency fell to US$26,090.71 on Tuesday evening. But it managed to stay above the US$26,000 support level maintained for the past 14 days.\nWith Bitcoin staying “firm within its September trading range,” blockchain analytics firm K33 Research wrote in an emailed note, “a narrowing trading range accompanied by a slow news cycle has provided traders with few reasons to participate actively in the market.”\nThe options pricing of Bitcoin derivatives on the CME market “shows a more positive longer term than short-term outlook but has become slightly more bearish in tandem with BTC’s price decline over the last week,” the K33 report added.\nEther was also trading flat. It edged up 0.33% to US$1,592.60 over the past 24 hours but lost 3.10% for the week. The token hit US$1,598.10 on Tuesday evening. But it failed to rise above the US$1,600 level it gave up on Sunday.\nWhile Ether is trading near a14-month lowagainst Bitcoin (0.061 BTC per ETH), that trend could be about to change, K33 report.\n“We reiterate our stance that rotating towards ETH is a sound play for the coming months, as futures-based ETFs can turn the trend. The first half of October will be pivotal in that regard, as the final deadlines for the ongoing futures ETH ETFs are coming up in this period,” wrote K33.\nMost other top 10 non-stablecoin cryptocurrencies booked losses for the past 24 hours. The exceptions were Ether, Binance’s BNB and Tron’s TRX. Toncoin continued to lead the losses. It dropped 1.66% in the past 24 hours to US$2.12 for a weekly decline of 17.75%.\nBNB, the native token of cryptocurrency exchange Binance Holdings Ltd, led the winners. The coin gained 1.06% to US$212.17, but it recorded a weekly loss of 2.30%.\nBNB’s daily rise coincided with theannouncementTuesday that Binance, the world’s largest crypto exchange, is collaborating with Japan’s largest banking group Mitsubishi UFJ Trust and Banking Corporation to issue fiat-pegged stablecoins in 2024.\nThe total crypto market capitalization dipped 0.28% in the past 24 hours to US$1.04 trillion, while trading volume dropped 10.02% to US$22.56 billion.\nU.S. stock futures were trading higher as of 09:40 a.m. in Hong Kong. The S&P 500 futures led the gains with a 0.21% increase. Wall Street closed lower Tuesday with all three major indexes booking losses of over 1%. The Nasdaq Composite led the losers with a 1.57% slide.\nMajor Asian stock indexes were mixed on Tuesday morning. China’s Shanghai Composite and Hong Kong’s Hang Seng booked gains, while South Korea’s Kospi and Japan’s Nikkei 225 dipped.\nU.S. economic data released Tuesday raised fears of recession. TheConsumer Confidence Indextracked by the Conference Board dropped to 103.0 in September, lower than the analysts’ expectation of105.5.\nThe data showed that “consumers continued to be preoccupied with rising prices in general, and for groceries and gasoline in particular,” wrote Dana Peterson, chief economist at The Conference Board.\n“Consumers also expressed concerns about the political situation and higher interest rates,” Peterson said.\nThe Expectations Index, based on consumers’ short-term outlook for income, business, and labor market conditions, declined to 73.7 in September from 83.3 in August. A reading below 80 signals a recession within the next year, according to the Conference Board.\n“Consumers may be hearing more bad news about corporate earnings, while job openings are narrowing, and interest rates continue to rise — making big-ticket items more expensive,” wrote Peterson.\nMeanwhile,new single-family home salesin the U.S. fell 8.7% to a seasonally adjusted annual rate of 675,000 in August, lower than the analysts’ projection of 698,000. The tight house supply, elevated prices and historically high mortgage rates contributed to the drop in home sales, according toBloombergon Wednesday.\nThe Federal Reserve in September kept interest rates unchanged between 5.25% and 5.50%, the highest level since early 2001. But the central bank might need to make another 25-basis-point rate hike by the end of 2023, and keep the rates higher for longer, according toremarksfrom Fed Chair Jerome Powell last Wednesday.\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 82.5% chance of no interest rate hike in November, up from 81.5% on Tuesday. It also gives a 65.8% chance of another pause in December, up from 60.9% on Tuesday\nOn the corporation front, the U.S. online retail giant Amazon.com, Inc. was among the worst performers on Tuesday. Its share price closed 4.03% lower. The Federal Trade Commission and 17 statessuedAmazon Tuesday, claiming the firm wields illegal monopoly power.\nThe share prices of technology giants Apple, Inc. and Tesla, Inc. also dropped 2.34% and 1.16 respectively on Tuesday.\nInvestors are now waiting for the U.S. second-quarter personal consumption expenditure price index (PCE) on Thursday, which will provide further insights into inflation.\nElsewhere, China’s monthly industrial profits in Augustsurprisingly rose17.2% from a year earlier, reversing a 6.7% annual decline in July. The industrial profit from January to August fell 11.7% from the same period last year. But the drop decelerated compared to a 15.5% slide in the first seven months of the year.\n(Updates with equity section.)', 'Bitcoin dipped on Wednesday morning in Asia to trade range-bound below US$26,300. Ether edged higher but failed to reclaim the US$1,600 mark. Other top 10 non-stablecoin cryptocurrencies traded mixed in the past 24 hours, with Binance’s BNB token leading the winners. The Open Network’s (TON) Toncoin led the losers. U.S. stock futures were up during early morning trading in Asia after Wall Street recorded losses of over 1% on Tuesday. More key inflation data is expected Thursday as investors look out for signs of a U.S. recession and further interest rate hikes. Mega-cap tech giants including Amazon, Apple and Tesla led the Wall Street declines. Bitcoin ‘firm within September trading range’ Bitcoin edged 0.28% lower to US$26,209.51 in the 24 hours to 07:40 a.m. in Hong Kong for a weekly loss of 3.70%, according to CoinMarketCap data. The world’s largest cryptocurrency fell to US$26,090.71 on Tuesday evening. But it managed to stay above the US$26,000 support level maintained for the past 14 days. With Bitcoin staying “firm within its September trading range,” blockchain analytics firm K33 Research wrote in an emailed note, “a narrowing trading range accompanied by a slow news cycle has provided traders with few reasons to participate actively in the market.” The options pricing of Bitcoin derivatives on the CME market “shows a more positive longer term than short-term outlook but has become slightly more bearish in tandem with BTC’s price decline over the last week,” the K33 report added. Ether was also trading flat. It edged up 0.33% to US$1,592.60 over the past 24 hours but lost 3.10% for the week. The token hit US$1,598.10 on Tuesday evening. But it failed to rise above the US$1,600 level it gave up on Sunday. While Ether is trading near a 14-month low against Bitcoin (0.061 BTC per ETH), that trend could be about to change, K33 report. “We reiterate our stance that rotating towards ETH is a sound play for the coming months, as futures-based ETFs can turn the trend. The first half of October will be pivotal in that regard, as the final deadlines for the ongoing futures ETH ETFs are coming up in this period,” wrote K33. Story continues Most other top 10 non-stablecoin cryptocurrencies booked losses for the past 24 hours. The exceptions were Ether, Binance’s BNB and Tron’s TRX. Toncoin continued to lead the losses. It dropped 1.66% in the past 24 hours to US$2.12 for a weekly decline of 17.75%. BNB, the native token of cryptocurrency exchange Binance Holdings Ltd, led the winners. The coin gained 1.06% to US$212.17, but it recorded a weekly loss of 2.30%. BNB’s daily rise coincided with the announcement Tuesday that Binance, the world’s largest crypto exchange, is collaborating with Japan’s largest banking group Mitsubishi UFJ Trust and Banking Corporation to issue fiat-pegged stablecoins in 2024. The total crypto market capitalization dipped 0.28% in the past 24 hours to US$1.04 trillion, while trading volume dropped 10.02% to US$22.56 billion. Wall Street losses amid recession fears Image: Getty Images U.S. stock futures were trading higher as of 09:40 a.m. in Hong Kong. The S&P 500 futures led the gains with a 0.21% increase. Wall Street closed lower Tuesday with all three major indexes booking losses of over 1%. The Nasdaq Composite led the losers with a 1.57% slide. Major Asian stock indexes were mixed on Tuesday morning. China’s Shanghai Composite and Hong Kong’s Hang Seng booked gains, while South Korea’s Kospi and Japan’s Nikkei 225 dipped. U.S. economic data released Tuesday raised fears of recession. The Consumer Confidence Index tracked by the Conference Board dropped to 103.0 in September, lower than the analysts’ expectation of 105.5 . The data showed that “consumers continued to be preoccupied with rising prices in general, and for groceries and gasoline in particular,” wrote Dana Peterson, chief economist at The Conference Board. “Consumers also expressed concerns about the political situation and higher interest rates,” Peterson said. The Expectations Index, based on consumers’ short-term outlook for income, business, and labor market conditions, declined to 73.7 in September from 83.3 in August. A reading below 80 signals a recession within the next year, according to the Conference Board. “Consumers may be hearing more bad news about corporate earnings, while job openings are narrowing, and interest rates continue to rise — making big-ticket items more expensive,” wrote Peterson. Meanwhile, new single-family home sales in the U.S. fell 8.7% to a seasonally adjusted annual rate of 675,000 in August, lower than the analysts’ projection of 698,000. The tight house supply, elevated prices and historically high mortgage rates contributed to the drop in home sales, according to Bloomberg on Wednesday. The Federal Reserve in September kept interest rates unchanged between 5.25% and 5.50%, the highest level since early 2001. But the central bank might need to make another 25-basis-point rate hike by the end of 2023, and keep the rates higher for longer, according to remarks from Fed Chair Jerome Powell last Wednesday. The Fed meets on Nov. 1 to make its next decision on interest rates. The CME FedWatch Tool predicts a 82.5% chance of no interest rate hike in November, up from 81.5% on Tuesday. It also gives a 65.8% chance of another pause in December, up from 60.9% on Tuesday On the corporation front, the U.S. online retail giant Amazon.com, Inc. was among the worst performers on Tuesday. Its share price closed 4.03% lower. The Federal Trade Commission and 17 states sued Amazon Tuesday, claiming the firm wields illegal monopoly power. The share prices of technology giants Apple, Inc. and Tesla, Inc. also dropped 2.34% and 1.16 respectively on Tuesday. Investors are now waiting for the U.S. second-quarter personal consumption expenditure price index (PCE) on Thursday, which will provide further insights into inflation. Elsewhere, China’s monthly industrial profits in August surprisingly rose 17.2% from a year earlier, reversing a 6.7% annual decline in July. The industrial profit from January to August fell 11.7% from the same period last year. But the drop decelerated compared to a 15.5% slide in the first seven months of the year. (Updates with equity section.)', 'A trader at the New York Stock Exchange puts his hand on his face in September 2008. Richard Drew/AP US stocks tumbled on Tuesday as weak economic data sparked the worst loss since March. Readings on sales of new homes and consumer confidence came in below forecasts. Investors are also contending with a possible interest rate hike and a government shutdown. US stocks plummeted on Tuesday as weak economic data sparked fears of a recession, adding to worries about rates and a government shutdown. The Consumer Confidence Index slid to 103, falling under August\'s 108.7 and missing views for 105.5, and a gauge of expectations reached a level usually associated with recessions, Conference Board reported. Meanwhile, new home sales in fell 8.7% in August from July , missing expectations. At the same time, home prices continued to ascend, with the Case-Shiller index growing 1% in July compared to a year ago. "So far, higher interest rates haven\'t made a dent in housing prices this year. And it doesn\'t appear that trend is anywhere close to being broken," Jamie Cox, Managing Partner for Harris Financial Group said. Before this, investors were already grappling with uncertainty, as the Federal Reserve indicated that another interest rate could come up before the year end. Meanwhile, a government shutdown looks increasingly likely , which would put immediate downside pressure on markets. Here\'s where US indexes stood shortly after the 4:00 p.m. closing bell on Tuesday: S&P 500 : 4,273.53, down 1.47% Dow Jones Industrial Average : 33,618.88, down 1.14% (388.00 points) Nasdaq Composite : 13,063.61, down 1.57% Here\'s what else is going on today: A landmark monopoly lawsuit against Amazon sent the tech giant\'s shares down on Tuesday. Investors should replace growth stocks with value equities as inflation is set to rebound, Rob Arnott said. The S&P 500 will hit a new all-time high in 2024 , JPMorgan said. A federal shutdown would delay key economic data , making the Fed\'s job more difficult. MicroStrategy added $150 million worth of bitcoin to its trove since August. In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 1.03% to $90.04 a barrel. Brent crude , the international benchmark, inched up 0.76% to $92.66 a barrel. Gold stayed essentially flat at $1,900.46. The yield on the 10-year Treasury bond edged up one basis point to 4.554%. Bitcoin declined 0.43% $26,188. Read the original article on Business Insider View comments', '• US stocks tumbled on Tuesday as weak economic data sparked the worst loss since March.\n• Readings on sales of new homes and consumer confidence came in below forecasts.\n• Investors are also contending with a possible interest rate hike and a government shutdown.\nUS stocks plummeted on Tuesday as weak economic data sparked fears of a recession, adding to worries about rates and a government shutdown.\nThe Consumer Confidence Index slid to 103, falling under August\'s 108.7 and missing views for 105.5, and a gauge of expectations reached a level usually associated with recessions,Conference Boardreported.\nMeanwhile, new home sales in fell8.7% in August from July, missing expectations. At the same time, home prices continued to ascend, with the Case-Shiller indexgrowing 1% in Julycompared to a year ago.\n"So far, higher interest rates haven\'t made a dent in housing prices this year. And it doesn\'t appear that trend is anywhere close to being broken," Jamie Cox, Managing Partner for Harris Financial Group said.\nBefore this, investors were already grappling with uncertainty, as the Federal Reserve indicated that another interest rate could come up before the year end. Meanwhile, agovernment shutdown looks increasingly likely, which would put immediate downside pressure on markets.\nHere\'s where US indexes stood shortly after the 4:00 p.m. closing bell on Tuesday:\n• S&P 500:4,273.53, down 1.47%\n• Dow Jones Industrial Average: 33,618.88, down 1.14% (388.00 points)\n• Nasdaq Composite: 13,063.61, down 1.57%\nHere\'s what else is going on today:\n• Alandmark monopoly lawsuit against Amazonsent the tech giant\'s shares down on Tuesday.\n• Investors shouldreplace growth stocks with value equitiesas inflation is set to rebound, Rob Arnott said.\n• TheS&P 500 will hit a new all-time high in 2024, JPMorgan said.\n• Afederal shutdown would delay key economic data, making the Fed\'s job more difficult.\n• MicroStrategyadded $150 million worth of bitcointo its trove since August.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 1.03% to $90.04 a barrel.Brent crude, the international benchmark, inched up 0.76% to $92.66 a barrel.\n• Goldstayed essentially flat at $1,900.46.\n• The yield on the 10-year Treasury bond edged up one basis point to 4.554%.\n• Bitcoindeclined 0.43% $26,188.\nRead the original article onBusiness Insider', 'Bitcoin (BTC) remains the world\'s biggest and most liquid digital asset. Still, crypto traders are increasingly pricing higher volatility in bitcoin relative to ether (ETH), the second-largest cryptocurrency by market value.\nThe spread between dominant crypto options exchange Deribit\'s forward-looking 30-day implied volatility index for ether (ETH DVOL) and bitcoin (BTC DVOL) has been consistently negative since Sept. 7, the longest such stretch since Deribit started the DVOL indices in early 2021.\nIn other words, bitcoin\'s implied volatility (IV) has topped ether for 20 straight days. Implied volatility is an estimate of the price turbulence over a specific period based on options prices.\nThe spread brieflyturned negativein March for the first time in nearly two years, reflecting the relative richness of BTC IV. Since then, it has become a norm in a sign of traders not looking beyond macroeconomic issues right now and being less interested in trading alternative cryptocurrencies.\nBitcoin has evolved as a macro asset since the coronavirus-induced crash of March 2020, consistently taking cues from the Fed policy, the U.S. fiscal and banking sector developments, and sentiment in traditional markets.\nOf late, macro risks have piled up in the form ofrising U.S. Treasury yields,stagflationrisks, a strengthening dollar index, the lingering threat of a U.S.government shutdownand increased prospects of adeflationary crash in China, all denting the appeal of investing in risk assets, like bitcoin.\nBesides, expectations for a U.S.-based spot bitcoin exchange-traded fund keep traders squarely focused on the leading cryptocurrency. Ether, meanwhile, hasfallen out of favor, thanks to Ethereum\'s dwindling revenue andrenewed inflationarytokenomics.\nThat said, ether may see renewed investor interest later this year when the Ethereum Improvement Proposal (EIP)-4844 goes live. The upgrade will introduce "proto-danksharding," to the Ethereum blockchain in a bid to reduce gas fees and increase transactions.', 'Bitcoin (BTC) remains the world\'s biggest and most liquid digital asset. Still, crypto traders are increasingly pricing higher volatility in bitcoin relative to ether (ETH), the second-largest cryptocurrency by market value.\nThe spread between dominant crypto options exchange Deribit\'s forward-looking 30-day implied volatility index for ether (ETH DVOL) and bitcoin (BTC DVOL) has been consistently negative since Sept. 7, the longest such stretch since Deribit started the DVOL indices in early 2021.\nIn other words, bitcoin\'s implied volatility (IV) has topped ether for 20 straight days. Implied volatility is an estimate of the price turbulence over a specific period based on options prices.\nThe spread brieflyturned negativein March for the first time in nearly two years, reflecting the relative richness of BTC IV. Since then, it has become a norm in a sign of traders not looking beyond macroeconomic issues right now and being less interested in trading alternative cryptocurrencies.\nBitcoin has evolved as a macro asset since the coronavirus-induced crash of March 2020, consistently taking cues from the Fed policy, the U.S. fiscal and banking sector developments, and sentiment in traditional markets.\nOf late, macro risks have piled up in the form ofrising U.S. Treasury yields,stagflationrisks, a strengthening dollar index, the lingering threat of a U.S.government shutdownand increased prospects of adeflationary crash in China, all denting the appeal of investing in risk assets, like bitcoin.\nBesides, expectations for a U.S.-based spot bitcoin exchange-traded fund keep traders squarely focused on the leading cryptocurrency. Ether, meanwhile, hasfallen out of favor, thanks to Ethereum\'s dwindling revenue andrenewed inflationarytokenomics.\nThat said, ether may see renewed investor interest later this year when the Ethereum Improvement Proposal (EIP)-4844 goes live. The upgrade will introduce "proto-danksharding," to the Ethereum blockchain in a bid to reduce gas fees and increase transactions.', 'Bitcoin (BTC) remains the world\'s biggest and most liquid digital asset. Still, crypto traders are increasingly pricing higher volatility in bitcoin relative to ether (ETH), the second-largest cryptocurrency by market value. The spread between dominant crypto options exchange Deribit\'s forward-looking 30-day implied volatility index for ether (ETH DVOL) and bitcoin (BTC DVOL) has been consistently negative since Sept. 7, the longest such stretch since Deribit started the DVOL indices in early 2021. In other words, bitcoin\'s implied volatility (IV) has topped ether for 20 straight days. Implied volatility is an estimate of the price turbulence over a specific period based on options prices. The spread briefly turned negative in March for the first time in nearly two years, reflecting the relative richness of BTC IV. Since then, it has become a norm in a sign of traders not looking beyond macroeconomic issues right now and being less interested in trading alternative cryptocurrencies. The negative spread shows traders imply a higher volatility in bitcoin relative to ether. (Amberdata) Bitcoin has evolved as a macro asset since the coronavirus-induced crash of March 2020, consistently taking cues from the Fed policy, the U.S. fiscal and banking sector developments, and sentiment in traditional markets. Of late, macro risks have piled up in the form of rising U.S. Treasury yields , stagflation risks, a strengthening dollar index, the lingering threat of a U.S. government shutdown and increased prospects of a deflationary crash in China , all denting the appeal of investing in risk assets, like bitcoin. Besides, expectations for a U.S.-based spot bitcoin exchange-traded fund keep traders squarely focused on the leading cryptocurrency. Ether, meanwhile, has fallen out of favor , thanks to Ethereum\'s dwindling revenue and renewed inflationary tokenomics. That said, ether may see renewed investor interest later this year when the Ethereum Improvement Proposal (EIP)-4844 goes live. The upgrade will introduce " proto-danksharding ," to the Ethereum blockchain in a bid to reduce gas fees and increase transactions. View comments', 'Crypto exchange Binance has agreed to sell the entirety of its Russia business to CommEX as it looks to fully exit the market over compliance concerns. "As we look toward the future, we recognize that operating in Russia is not compatible with Binance\'s compliance strategy," Noah Perlman, Binance\'s chief compliance officer said in a press statement. CommEX appears to be a crypto exchange that was officially launched on Tuesday , while it seemingly listed BTC/USDT and ETH/USDT trading pairs for spot trading in July. On its X (formerly Twitter) account, CommEX on Wednesday welcomed its "new users from Russia and around the world!" It was reported earlier this year that Binance was facing a Department of Justice inquiry into whether Russian customers were able to access the exchange in violation of U.S. sanctions related to Russia\'s invasion of Ukraine. In August, the firm said it was cutting ties with sanctioned Russian banks . Binance said on Wednesday that with the sale, it would exit the country completely, adding "Binance will sunset all exchange services and business lines in Russia" over the next several months. "Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business," the release said. CommEX said it will not onboard customers from the U.S, EU and some other jurisdictions. The off-boarding process for existing Russian users will take up to one year and all their assets are "safe and protected," the firm said. UPDATE (Sept. 27, 09:02 UTC) : Updates headline, adds details and background. View comments', 'Crypto exchange Binance hasagreed to sellthe entirety of its Russia business toCommEXas it looks to fully exit the market over compliance concerns.\n"As we look toward the future, we recognize that operating in Russia is not compatible with Binance\'s compliance strategy," Noah Perlman, Binance\'s chief compliance officer said in a press statement.\nCommEX appears to be a crypto exchangethat was officially launched on Tuesday, while itseemingly listed BTC/USDT and ETH/USDT trading pairs for spot tradingin July. On its X (formerly Twitter) account, CommEX on Wednesdaywelcomedits "new users from Russia and around the world!"\nIt was reported earlier this year that Binance was facing a Department of Justice inquiry into whether Russian customers were able to access the exchangein violation of U.S. sanctionsrelated to Russia\'s invasion of Ukraine. In August, the firm said it wascutting ties with sanctioned Russian banks.\nBinance said on Wednesday that with the sale, it would exit the country completely, adding "Binance will sunset all exchange services and business lines in Russia" over the next several months.\n"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business," the release said.\nCommEX said it will not onboard customers from the U.S, EU and some other jurisdictions.\nThe off-boarding process for existing Russian users will take up to one year and all their assets are "safe and protected," the firm said.\nUPDATE (Sept. 27, 09:02 UTC): Updates headline, adds details and background.', 'Bitcoin (BTC) and ether (ETH) remained little changed over the past 24 hours as traders suggested major cryptos were starting to show signs of correlation to U.S. equities. The price of bitcoin (BTC) remained under pressure at $26,200 on Tuesday as the idea of higher rates for a longer period takes hold throughout financial markets, as reported . Traders are seemingly pricing in fear of inflation, which may impact riskier assets. “The positive correlation between cryptocurrencies and the stock market is temporarily back on track,” shared Alex Kuptsikevich, the FxPro senior market analyst, in a note to CoinDesk. “Despite the storm in the equity markets, the crypto market remains subdued, losing only 0.3% in 24 hours to $1.045 trillion.” “However, the Crypto Market Fear and Greed Index is dipping into "fear" territory, implying the crypto market did not suddenly become a safe haven,” he added. The index assumes that fear drives stocks lower while greed boosts stock values. Crypto markets slumped 0.5%, the CoinDesk Markets Index (CMI) , a broad-based tracker of hundreds of tokens, shows. This mirrored a drop in the U.S. markets on Tuesday – with the S&P500 losing 1.5%, the Dow Jones Index falling 1.1% and the tech-heavy Nasdaq 100 ending the day 1.4% lower. However, Asian markets rose higher Wednesday, bringing relief to crypto bulls as majors pared back some of Tuesday’s losses. BTC exchanged hands at $26,300, ETH at $1,580 in Asian morning hours. Elsewhere, alternative tokens showed tepid growth with only a few showing gains. Maker protocol’s MKR rose 5.5%, while Shiba Inu ecosystem BONE rose 10%, the highest among all actively traded tokens .', 'Bitcoin (BTC) and ether (ETH) remained little changed over the past 24 hours as traders suggested major cryptos were starting to show signs of correlation to U.S. equities.\nThe price of bitcoin (BTC) remained under pressure at $26,200 on Tuesday as the idea of higher rates for a longer period takes hold throughout financial markets,as reported. Traders areseemingly pricingin fear of inflation, which may impact riskier assets.\n“The positive correlation between cryptocurrencies and the stock market is temporarily back on track,” shared Alex Kuptsikevich, the FxPro senior market analyst, in a note to CoinDesk. “Despite the storm in the equity markets, the crypto market remains subdued, losing only 0.3% in 24 hours to $1.045 trillion.”\n“However, the Crypto Market Fear and Greed Index is dipping into "fear" territory, implying the crypto market did not suddenly become a safe haven,” he added. The index assumes that fear drives stocks lower while greed boosts stock values.\nCrypto markets slumped 0.5%, theCoinDesk Markets Index (CMI), a broad-based tracker of hundreds of tokens, shows. Thismirrored a dropin the U.S. markets on Tuesday – with the S&P500 losing 1.5%, the Dow Jones Index falling 1.1% and the tech-heavy Nasdaq 100 ending the day 1.4% lower.\nHowever, Asian markets rose higher Wednesday, bringing relief to crypto bulls as majors pared back some of Tuesday’s losses. BTC exchanged hands at $26,300, ETH at $1,580 in Asian morning hours.\nElsewhere, alternative tokens showed tepid growth with only a few showing gains. Maker protocol’s MKR rose 5.5%, while Shiba Inu ecosystem BONE rose 10%, the highest among allactively traded tokens.', 'Bitcoin (BTC) and ether (ETH) remained little changed over the past 24 hours as traders suggested major cryptos were starting to show signs of correlation to U.S. equities.\nThe price of bitcoin (BTC) remained under pressure at $26,200 on Tuesday as the idea of higher rates for a longer period takes hold throughout financial markets,as reported. Traders areseemingly pricingin fear of inflation, which may impact riskier assets.\n“The positive correlation between cryptocurrencies and the stock market is temporarily back on track,” shared Alex Kuptsikevich, the FxPro senior market analyst, in a note to CoinDesk. “Despite the storm in the equity markets, the crypto market remains subdued, losing only 0.3% in 24 hours to $1.045 trillion.”\n“However, the Crypto Market Fear and Greed Index is dipping into "fear" territory, implying the crypto market did not suddenly become a safe haven,” he added. The index assumes that fear drives stocks lower while greed boosts stock values.\nCrypto markets slumped 0.5%, theCoinDesk Markets Index (CMI), a broad-based tracker of hundreds of tokens, shows. Thismirrored a dropin the U.S. markets on Tuesday – with the S&P500 losing 1.5%, the Dow Jones Index falling 1.1% and the tech-heavy Nasdaq 100 ending the day 1.4% lower.\nHowever, Asian markets rose higher Wednesday, bringing relief to crypto bulls as majors pared back some of Tuesday’s losses. BTC exchanged hands at $26,300, ETH at $1,580 in Asian morning hours.\nElsewhere, alternative tokens showed tepid growth with only a few showing gains. Maker protocol’s MKR rose 5.5%, while Shiba Inu ecosystem BONE rose 10%, the highest among allactively traded tokens.', 'Bitcoin extended losses on Wednesday afternoon in Asia. Most top 10 non-stablecoin cryptocurrencies dropped, except Ether, BNB, and Tron. The U.S. SEC on Tuesday again delayed its decision on exchange-traded fund (ETF) application by 21Shares and Cathie Wood’s ARK Investment Management. Asian equity markets and U.S. stock futures gained while European bourses traded mixed. See related article: JPMorgan’s U.K. bank Chase bans payments linked to crypto Bitcoin extend losses Bitcoin dropped 0.21% to US$26,221 in 24 hours to 4.05 p.m. in Hong Kong, bringing its weekly losses to 3.23%, according to CoinMarketCap data . The world’s largest cryptocurrency has managed to stay above the US$26,000 support level for the past 14 days. Meanwhile, the U.S. Securities and Exchange Commission (SEC) again delayed a decision on whether to approve the first U.S. ETF on a filing from 21Shares and Cathie Wood’s ARK Investment Management. This is the third time the SEC has delayed its decision since ARK and 21Shares’ original filing in April. In a statement on Tuesday, the SEC said, “the Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein. Accordingly, the Commission designates January 10, 2024, as the date by which the Commission shall either approve or disapprove the proposed rule change.” Seven firms — BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise and Valkyrie Digital Assets — published ETF applications in the Federal Register on July 19. The SEC was scheduled to rule on all seven applications by Sept. 4. However, the regulator postponed by 45 days meaning the seven firms will now have to wait until mid-October for a decision. “This may put the hammer down for any hopes of an ETF approval this year? If they went on Ark/21 shares already, we may see delays on all the other filings today too? In reality my base case is that we will get the “delays” on the other filings tomorrow or sometime this week and the SEC is simply getting ahead of a likely federal government shutdown,” said James Seyffart, ETF analyst at Bloomberg Intelligence. Story continues This may put the hammer down for any hopes of an ETF approval this year? If they went on Ark/21 shares already, we may see delays on all the other filings today too? BlackRock, Bitwise, VanEck, Invesco, Wisdomtree, Fidelity & Valkyrie a all due in mid Oct … pic.twitter.com/XiFbxIrIRK — James Seyffart (@JSeyff) September 26, 2023 Ether rose 0.03% to US$1,590 but is down 2.68% over the last seven days. Most other top 10 non-stablecoin cryptocurrencies booked losses for the past 24 hours. The exceptions were Ether, BNB, and Tron. Toncoin was the biggest loser of the day, dropping 2.13% to US$2.10 in 24 hours and losing 16.32% on the week. BNB, the native token of largest cryptocurrency exchange Binance, led the winners. It gained 0.29% to US$212, but recorded a weekly loss of 1.60%. The rise in prices comes amid announcement that Binance is collaborating with Japan’s largest banking group Mitsubishi UFJ Trust and Banking Corporation to issue fiat-pegged stablecoins in 2024. Total crypto market capitalization dropped 0.16% to US$1.05 trillion, while market volume fell 11.78% to US$19,71 billion in the past 24 hours. Forkast 500 NFT drops, sales volume of Pudgy Penguins collection rises 356% The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The Forkast 500 NFT index dropped 1.06% to 1,910.85 in 24 hours to 6.40 p.m. in Hong Kong, bringing its weekly losses to 5.31%. At the same time, Forkast’s Ethereum and Solana indexes gained while the Polygon index dropped. Total NFT sales volume was flat at US$10.64 million, while the number of buyers increased 5.93% to 48,312, according to CryptoSlam data . “Last week a majority of the world learned that 95% of non-fungible tokens are worthless,” wrote Yehudah Petscher, NFT strategist at Forkast Labs. “Years of experience taught us that the NFT market runs in cycles, with the hot side of the market lasting usually just a few weeks, though the start of the calendar year’s run usually lasts for a few months,” he said. “Between these runs, most NFTs become completely illiquid and fade into oblivion. When the next cycle comes around they’re replaced by an entirely new crop of NFTs. If I were a betting man I’d say that probably 95% of NFTs become worthless between these cycles. That number only grows as more and more supply is created,” Petscher added. Among blockchains, Ethereum topped rankings although its sales volume in the past 24 hours dropped 2.43% to US$5.4 million. Mythos and Polygon blockchains ranked second and third respectively. Among collections, Mythos-based DMarket topped rankings by sales volume, although it dropped 3.14% to\xa0 US$975,736 in the past 24 hours. At the same time, sales volume of ImmutableX-based Gods Unchained climbed 82.90% to US$718,593, ranking as the second biggest collection. Ethereum-based Pudgy Penguins ranked third among NFT collections as its sales volume jumped 356.50% to US$714,203 in the past 24 hours. The rise comes amid news of Pudgy Toys, with Pudgy World, now available in 2,000 Walmarts in the USA. On this day, Web3 enters a Brave New World. Pudgy Toys, with Pudgy World, are now available in 2,000 Walmarts in the USA. pic.twitter.com/UP8npUxCr3 — Pudgy Penguins (@pudgypenguins) September 26, 2023 “Maybe most important is that for the most part, collectors and traders haven’t left the NFT economy, even with trade profits nowhere to be found. People believe in the tech, and they believe in the future that NFTs will power,” Petscher said. Asian equities, U.S. stock futures rise; European bourses mixed Shanghai, China. Image: Envato Elements Major Asian equity markets reversed losses on Wednesday. China’s Shanghai Composite , the Shenzhen Component Index , South Korea’s Kospi , Hong Kong’s Hang Seng , and Japan’s Nikkei 225 were all in the green at the end of trading hours. Wang Yiming, a member of the Monetary Policy Committee of the People’s Bank of China, reportedly said on Wednesday that the world’s second-biggest economy would grow slightly more than 5% this year. China’s monthly industrial profits in August surprisingly rose 17.2% from a year earlier, reversing a 6.7% annual decline in July. The industrial profit from January to August fell 11.7% from the same period last year. But the drop slowed, compared to a 15.5% slide in the first seven months of the year. India’s benchmark index Sensex gained 0.26% at the close of trading hours on Wednesday. The economy of the world’s most populous nation will grow 6.2% in the financial year ending March 2024 and 6.3% in the next, according to the median forecasts in the Sept. 20-26 poll of 65 economists by Reuters . Family harvesting crops, near Jaipur, India. Image: Envato Elements However, most economists in the poll said the growth numbers are below India’s potential and a drier than usual monsoon may affect economic growth in a country which is primarily agriculture-based. U.S. stock futures strengthened as of 8.15 p.m. in Hong Kong on Wednesday. The Dow Jones Industrial Average futures, the S&P 500 futures as well as the Nasdaq 100 Futures were all in green. However, U.S. economic data released Tuesday raised fears of recession. The Consumer Confidence Index tracked by the Conference Board dropped to 103.0 in September, lower than the analysts’ expectation of 105.5 . The Expectations Index, based on consumers’ short-term outlook for income, business, and labor market conditions, declined to 73.7 in September from 83.3 in August. A reading below 80 signals a recession within the next year, according to the Conference Board. The Federal Reserve in September kept interest rates unchanged between 5.25% and 5.5%, the highest since early 2001. But the central bank might make another 25-basis-point rate hike by the end of 2023, and keep the rates higher for longer to tackle a persistent inflation, according to remarks from Fed Chair Jerome Powell last Wednesday. Image: Envato Elements The Fed meets next on Nov. 1. The CME FedWatch Tool predicts a 82.5% chance of no interest rate hike in November, up from 81.5% on Tuesday. It also gives a 65.8% chance of another pause in December, up from 60.9% on Tuesday. “With the U.S. economic cycle now in the slowdown phase, a more cautious stance towards equities and credit markets would typically be suggested. But investors should recognise that this cycle is proving to be rather different, as inflation is falling as we enter the slowdown,” Tina Fong, strategist at Schroders, said in an emailed statement on Wednesday. “This may indicate that growth could be more resilient, and the Fed has greater flexibility to ease monetary policy. It also reduces the risk of a slowdown followed by a recession, which tends to create a more negative environment for risk assets. Overall, the investment playbook based on previous slowdowns may be different this time,” Fong added. European bourses were mixed on Wednesday morning in Europe. The benchmark STOXX 600 gained while Germany’s DAX 40 traded lower. The European Central Bank (ECB) has been consistently increasing interest rates to tackle the highest inflation in its nearly 25-year history. This has led to bank customers switching to term deposits which are now offering much better returns due to ECB’s rate hikes. ( updates with equities section .)', 'Bitcoin extended losses on Wednesday afternoon in Asia. Most top 10 non-stablecoin cryptocurrencies dropped, except Ether, BNB, and Tron. The U.S. SEC on Tuesday again delayed its decision on exchange-traded fund (ETF) application by 21Shares and Cathie Wood’s ARK Investment Management. Asian equity markets and U.S. stock futures gained while European bourses traded mixed.\nSee related article:JPMorgan’s U.K. bank Chase bans payments linked to crypto\nBitcoin dropped 0.21% to US$26,221 in 24 hours to 4.05 p.m. in Hong Kong, bringing its weekly losses to 3.23%, according to CoinMarketCapdata. The world’s largest cryptocurrency has managed to stay above the US$26,000 support level for the past 14 days.\nMeanwhile, the U.S. Securities and Exchange Commission (SEC) againdelayeda decision on whether to approve the first U.S. ETF on a filing from 21Shares and Cathie Wood’s ARK Investment Management. This is the third time the SEC has delayed its decision since ARK and 21Shares’ original filing in April.\nIn astatementon Tuesday, the SEC said, “the Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein. Accordingly, the Commission designates January 10, 2024, as the date by which the Commission shall either approve or disapprove the proposed rule change.”\nSeven firms— BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise and Valkyrie Digital Assets — published ETF applications in the Federal Register on July 19. The SEC was scheduled to rule on all seven applications by Sept. 4. However, the regulator postponed by 45 days meaning the seven firms will now have to wait until mid-October for a decision.\n“This may put the hammer down for any hopes of an ETF approval this year? If they went on Ark/21 shares already, we may see delays on all the other filings today too? In reality my base case is that we will get the “delays” on the other filings tomorrow or sometime this week and the SEC is simply getting ahead of a likely federal government shutdown,”saidJames Seyffart, ETF analyst a
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-27
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $521,554,614,062
- Hash Rate: 445792739.99081457
- Transaction Count: 337265.0
- Unique Addresses: 621414.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.44
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: ASTANA, KAZAKHSTAN / ACCESSWIRE / August 23, 2023 /Collect & Exchange, a multinational organization in financial technologies, announces the official launch of its state-of-the-art digital asset exchange platform. The cutting-edge service permits users to seamlessly trade cryptocurrencies and fiat currencies through more than 1500 trading pairs while embodying a user-centric approach to modern finance. Additionally, businesses can leverage the platform to accept payments in various cryptocurrencies from their customers.
An AFSA-licensed digital assets institution, Collect & Exchange aims to set new standards in terms of onboarding and customer experience. Thanks to the implementation of modern KYC and AML procedures, Collect & Exchange offers a rapid onboarding experience, promising businesses and individuals alike a full setup in just a few days.
An advanced customizable dashboard further assures an intuitive, user-friendly experience. As Asaf Hanukaev, co-founder of Collect & Exchange, emphasizes, "Our new platform is a paradigm shift, streamlining how individual and corporate clients from various sectors, including Advertising, Forex, IT, e-commerce, gaming, and more engage with digital assets."
The platform also boasts versatile funding options, enabling users to deposit, withdraw, and make internal transfers with the utmost ease. From the beginning, Collect & Exchange will support a myriad of digital assets on major blockchain networks such as Bitcoin, Ethereum, Tron, and Binance Smart Chain. Traditional bank transfers, including top fiat currencies like US Dollar, Euro, Swiss Francs, Chinese Yuan, Emirati Dirham, and British Pound are integrated for seamless fiat funding and withdrawal.
"Our platform isn't just for the tech-savvy or finance-oriented. We've built Collect & Exchange to be accessible and beneficial for diverse sectors," remarks Yaron Noah, co-founder of Collect & Exchange.
Further distinguishing itself in the market, Collect & Exchange provides every client with a dedicated support agent, guaranteeing tailored assistance for any queries or challenges.
"In the fast-paced world of digital asset trading, we believe that personal touch makes all the difference. Our dedicated support agents ensure that any arising issues will be dealt with immediately, highlighting our commitment to customer experience and transparency," says George Arakelov, CEO of Collect & Exchange.
About Collect & Exchange
Collect & Exchange, regulated by Astana Financial Services Authority (AFSA), is a licensed digital assets services provider focused on simplifying fiat and crypto asset payments. With a suite of solutions tailored to both individual and corporate clients, Collect & Exchange strives for higher standards of transparency, speed, and customer satisfaction in the evolving digital trading world.
Media Contact
Simon MoserPR [email protected]@collectnexchange.com
SOURCE:Collect & Exchange
View source version on accesswire.com:https://www.accesswire.com/776287/Collect-Exchange-Launches-Innovative-Digital-Asset-Exchange-Platform...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin was trading above US$26,300 Thursday morning in Asia after briefly breaching US$26,800 Wednesday evening. Ether also made up some ground, rising above the US$1,600 resistance level before falling back to just below it. Other top 10 non-stablecoin cryptocurrencies traded mixed, with the Open Network’s (TON) Toncoin leading the winners. U.S. stock futures were up after Wall Street closed mixed on Wednesday. Investors are digesting a 16-year high in U.S. 10-year treasury yields as well as a potential debt-driven government shutdown in October. SEC delays another spot Bitcoin ETF decision Bitcoin gained 0.56% to US$26,354.64 in the 24 hours to 07:40 a.m. in Hong Kong but still held a weekly loss of 2.87%, according to CoinMarketCap data. The world’s largest cryptocurrency on Wednesday night briefly rose above US$26,800 for the first time in the past seven days, but soon retreated to around US$26,300. The U.S. dollar index (DXY), which measures the greenback against a basket of other major fiat currencies, reached a ten-month high of 106.84 on Thursday. A high DXY has been a bearish signal for cryptos and the S&P 500 alike, blockchain intelligence firm Santiment said Thursday on X (previously Twitter). However, Bitcoin has “held up well” despite the rise in the U.S. dollar. That “may indicate a breakout could come once the DXY settles down,” Santiment added. 💸 The #Dollar has crept up to its highest level since last November. Particularly since 2021, this has been a #bearish signal for #crypto and the #SP500 . However, $BTC has held up well, which may indicate a breakout could come once the $DXY settles down. https://t.co/zplpYJjSkf pic.twitter.com/iTyof07MNm — Santiment (@santimentfeed) September 27, 2023 Along with Bitcoin, Ether edged up 0.31% to US$1,597.56 over the past 24 hours but is trading 1.55% lower for the week. The token also hit a seven-day high of US$1,631.91 on Wednesday evening. Story continues The price moves in the crypto market yesterday were driven by macro markets, said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock. “Overnight Asia time, American investors started the day full of optimism, attempting to reverse this week’s pullback… only to turn risk-off again in the second half of the day and close in the red,” d’Anethan said. “While traditional markets suffered, crypto actually outperformed, rising and then pulling back but only to return to a neutral position. BTC and ETH are essentially flat or timidly up on the session,” d’Anethan added. Other top 10 non-stablecoin cryptocurrencies traded mixed for the past 24 hours. Toncoin, the native token of TON, led the winners with a 2.21% increase to US$2.17, but was still down 9.96% for the week. Polkadot’s DOT token led the losers, edging 0.56% lower to US$3.99 for a 3.63% weekly loss. On the regulatory front, the U.S. Securities and Exchange Commission (SEC) on Tuesday delayed a decision on the spot Bitcoin exchange-traded fund (ETF) application made by Cathie Woods’ Ark Investment Management and Swiss digital asset brokerage 21Shares. The SEC was scheduled to make a decision by November 11 but it has now pushed that date back to January 10. The agency has delayed its decision multiple times on ETF applications from not only Ark and 21Shares, but also BlackRock, WisdomTree and Invesco Galaxy. The delay was made after four Congress members urged the SEC to approve pending spot Bitcoin ETF applications. At a Wednesday Congress hearing , SEC Chair Gary Gensler was questioned by multiple Congress members about his agency’s aggressive stance on crypto assets. But he stuck to the claim that most cryptos other than Bitcoin should be classified as securities and regulated by the SEC. Despite the pressure from Congress, Markus Thielen, head of research and strategy at digital asset service platform Matrixport, wrote in an emailed comment that “Gensler refused to release any details where the SEC stands in the (spot Bitcoin ETF) application process and rather criticised industry practices. This caused Bitcoin prices to retrace their rally attempt (yesterday).” On the subject of Gensler’s speech, Keyrock’s d’Anethan said “it feels like American regulators are pushed more and more to take some action and I choose to see that as bullish: it’s a question of when they’ll give in, not if.” The total crypto market capitalization edged up 0.35% in the past 24 hours to US$1.05 trillion, while trading volume rose 20.25% to US$27.26 billion. Wall Street facing possible government shutdown Image: Getty Images U.S. stock futures were higher as of 09:50 a.m. in Hong Kong. The Nasdaq futures index led the gains with a 0.21% increase. Wall Street closed mixed Wednesday. The Dow Jones Industrial Average logged losses, while the S&P 500 and Nasdaq Composite edged higher. Major Asian stock indexes were mixed on Tuesday morning. China’s Shanghai Composite and South Korea’s Kospi booked gains, while Hong Kong’s Hang Seng and Japan’s Nikkei 225 dipped. The U.S. government could partially shut down as early as Sunday as Congress struggles to pass a funding bill to support the operations through Nov. 17. If Congress fails to pass the bill by the end of September, a lapse in government funding could impact non-essential government functions and payment to government employees. The U.S. government has had three partial shutdowns due to funding lapses in the past decade. “More likely than not, we are going to see a government shutdown,” Emerson Sprick, senior economic analyst at U.S.-based think tank the Bipartisan Policy Center, told CNBC on Wednesday. “The question is for how long … How long it lasts has a real impact on American households, to a greater extent than just if it happens or not.” About 1.3 million active-duty military and 2 million civilian federal employees would go without pay for the duration of any shutdown, Bloomberg reported Wednesday. “The more a shutdown lasts, the more it goes beyond federal employees,” Goldman Sachs analyst Alec Phillips told Bloomberg. “The longer it goes on, the indirect impact becomes larger.” Beyond government shutdown concerns, the U.S. stock market is also feeling the pressure of rising oil prices and U.S. treasury yields. The global oil price benchmark Brent crude finished at US$96.55 on Wednesday, its highest close since November 2022. The U.S. 10-year treasury yields settled at 4.625% , the highest close since October 2007. On the inflation front, Minneapolis Federal Reserve President Neel Kashkari told CNBC on Wednesday he was unsure if the current U.S. interest rate of between 5.25% and 5.50% is “sufficiently restrictive” to bring the annual inflation rate below the Fed’s long-term goal of 2%. Kashkari said further hikes cannot be ruled out “given the dynamics of the reopening of the economy.” The Fed meets on Nov. 1 to make its next decision on interest rates. The CME FedWatch Tool predicts a 77.6% chance of no interest rate hike in November, down from 82.5% on Wednesday. It also gives a 57.8% chance of another pause in December, down from 65.8% on Wednesday. Investors now await the U.S. second-quarter personal consumption expenditure price index (PCE) on Thursday, which will provide further insights into inflation. Several Federal Reserve officials including Fed Chair Jerome Powell will also give speeches on Thursday. (Updates with equity section.)', 'Bitcoin was trading above US$26,300 Thursday morning in Asia after briefly breaching US$26,800 Wednesday evening. Ether also made up some ground, rising above the US$1,600 resistance level before falling back to just below it. Other top 10 non-stablecoin cryptocurrencies traded mixed, with the Open Network’s (TON) Toncoin leading the winners. U.S. stock futures were up after Wall Street closed mixed on Wednesday. Investors are digesting a 16-year high in U.S. 10-year treasury yields as well as a potential debt-driven government shutdown in October.\nBitcoin gained 0.56% to US$26,354.64 in the 24 hours to 07:40 a.m. in Hong Kong but still held a weekly loss of 2.87%, according toCoinMarketCapdata. The world’s largest cryptocurrency on Wednesday night briefly rose above US$26,800 for the first time in the past seven days, but soon retreated to around US$26,300.\nThe U.S. dollar index (DXY), which measures the greenback against a basket of other major fiat currencies, reached a ten-month high of106.84on Thursday.\nA high DXY has been a bearish signal for cryptos and the S&P 500 alike, blockchain intelligence firm SantimentsaidThursday on X (previously Twitter). However, Bitcoin has “held up well” despite the rise in the U.S. dollar. That “may indicate a breakout could come once the DXY settles down,” Santiment added.\nAlong with Bitcoin, Ether edged up 0.31% to US$1,597.56 over the past 24 hours but is trading 1.55% lower for the week. The token also hit a seven-day high of US$1,631.91 on Wednesday evening.\nThe price moves in the crypto market yesterday were driven by macro markets, said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\n“Overnight Asia time, American investors started the day full of optimism, attempting to reverse this week’s pullback… only to turn risk-off again in the second half of the day and close in the red,” d’Anethan said.\n“While traditional markets suffered, crypto actually outperformed, rising and then pulling back but only to return to a neutral position. BTC and ETH are essentially flat or timidly up on the session,” d’Anethan added.\nOther top 10 non-stablecoin cryptocurrencies traded mixed for the past 24 hours. Toncoin, the native token of TON, led the winners with a 2.21% increase to US$2.17, but was still down 9.96% for the week. Polkadot’s DOT token led the losers, edging 0.56% lower to US$3.99 for a 3.63% weekly loss.\nOn the regulatory front, the U.S. Securities and Exchange Commission (SEC) on Tuesdaydelayeda decision on the spot Bitcoin exchange-traded fund (ETF) application made by Cathie Woods’ Ark Investment Management and Swiss digital asset brokerage 21Shares.\nThe SEC was scheduled to make a decision by November 11 but it has now pushed that date back to January 10. The agency hasdelayedits decision multiple times on ETF applications from not only Ark and 21Shares, but also BlackRock, WisdomTree and Invesco Galaxy.\nThe delay was made after four Congress membersurgedthe SEC to approve pending spot Bitcoin ETF applications. At a WednesdayCongress hearing, SEC Chair Gary Gensler was questioned by multiple Congress members about his agency’saggressive stanceon crypto assets. But he stuck to the claim that most cryptos other than Bitcoin should be classified as securities and regulated by the SEC.\nDespite the pressure from Congress, Markus Thielen, head of research and strategy at digital asset service platform Matrixport, wrote in an emailed comment that “Gensler refused to release any details where the SEC stands in the (spot Bitcoin ETF) application process and rather criticised industry practices. This caused Bitcoin prices to retrace their rally attempt (yesterday).”\nOn the subject of Gensler’s speech, Keyrock’s d’Anethan said “it feels like American regulators are pushed more and more to take some action and I choose to see that as bullish: it’s a question of when they’ll give in, not if.”\nThe total crypto market capitalization edged up 0.35% in the past 24 hours to US$1.05 trillion, while trading volume rose 20.25% to US$27.26 billion.\nU.S. stock futures were higher as of 09:50 a.m. in Hong Kong. The Nasdaq futures index led the gains with a 0.21% increase. Wall Street closed mixed Wednesday. The Dow Jones Industrial Average logged losses, while the S&P 500 and Nasdaq Composite edged higher.\nMajor Asian stock indexes were mixed on Tuesday morning. China’s Shanghai Composite and South Korea’s Kospi booked gains, while Hong Kong’s Hang Seng and Japan’s Nikkei 225 dipped.\nThe U.S. government could partially shut down as early as Sunday as Congress struggles to pass a funding bill to support the operations through Nov. 17. If Congress fails to pass the bill by the end of September, a lapse in government funding could impact non-essential government functions and payment to government employees.\nThe U.S. government has had three partial shutdowns due to funding lapses in the past decade.\n“More likely than not, we are going to see a government shutdown,” Emerson Sprick, senior economic analyst at U.S.-based think tank the Bipartisan Policy Center,toldCNBC on Wednesday. “The question is for how long … How long it lasts has a real impact on American households, to a greater extent than just if it happens or not.”\nAbout 1.3 million active-duty military and 2 million civilian federal employees would go without pay for the duration of any shutdown,Bloombergreported Wednesday.\n“The more a shutdown lasts, the more it goes beyond federal employees,” Goldman Sachs analyst Alec Phillips told Bloomberg. “The longer it goes on, the indirect impact becomes larger.”\nBeyond government shutdown concerns, the U.S. stock market is also feeling the pressure of rising oil prices and U.S. treasury yields. The global oil price benchmark Brent crude finished atUS$96.55on Wednesday, its highest close since November 2022. The U.S. 10-year treasury yields settled at4.625%, the highest close since October 2007.\nOn the inflation front, Minneapolis Federal Reserve President Neel KashkaritoldCNBC on Wednesday he was unsure if the current U.S. interest rate of between 5.25% and 5.50% is “sufficiently restrictive” to bring the annual inflation rate below the Fed’s long-term goal of 2%. Kashkari said further hikes cannot be ruled out “given the dynamics of the reopening of the economy.”\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 77.6% chance of no interest rate hike in November, down from 82.5% on Wednesday. It also gives a 57.8% chance of another pause in December, down from 65.8% on Wednesday.\nInvestors now await the U.S. second-quarter personal consumption expenditure price index (PCE) on Thursday, which will provide further insights into inflation. Several Federal Reserve officials including Fed Chair Jerome Powell will also give speeches on Thursday.\n(Updates with equity section.)', 'Bitcoin was trading above US$26,300 Thursday morning in Asia after briefly breaching US$26,800 Wednesday evening. Ether also made up some ground, rising above the US$1,600 resistance level before falling back to just below it. Other top 10 non-stablecoin cryptocurrencies traded mixed, with the Open Network’s (TON) Toncoin leading the winners. U.S. stock futures were up after Wall Street closed mixed on Wednesday. Investors are digesting a 16-year high in U.S. 10-year treasury yields as well as a potential debt-driven government shutdown in October.\nBitcoin gained 0.56% to US$26,354.64 in the 24 hours to 07:40 a.m. in Hong Kong but still held a weekly loss of 2.87%, according toCoinMarketCapdata. The world’s largest cryptocurrency on Wednesday night briefly rose above US$26,800 for the first time in the past seven days, but soon retreated to around US$26,300.\nThe U.S. dollar index (DXY), which measures the greenback against a basket of other major fiat currencies, reached a ten-month high of106.84on Thursday.\nA high DXY has been a bearish signal for cryptos and the S&P 500 alike, blockchain intelligence firm SantimentsaidThursday on X (previously Twitter). However, Bitcoin has “held up well” despite the rise in the U.S. dollar. That “may indicate a breakout could come once the DXY settles down,” Santiment added.\nAlong with Bitcoin, Ether edged up 0.31% to US$1,597.56 over the past 24 hours but is trading 1.55% lower for the week. The token also hit a seven-day high of US$1,631.91 on Wednesday evening.\nThe price moves in the crypto market yesterday were driven by macro markets, said Justin d’Anethan, head of Asia-Pacific business development at Belgium-based crypto market maker Keyrock.\n“Overnight Asia time, American investors started the day full of optimism, attempting to reverse this week’s pullback… only to turn risk-off again in the second half of the day and close in the red,” d’Anethan said.\n“While traditional markets suffered, crypto actually outperformed, rising and then pulling back but only to return to a neutral position. BTC and ETH are essentially flat or timidly up on the session,” d’Anethan added.\nOther top 10 non-stablecoin cryptocurrencies traded mixed for the past 24 hours. Toncoin, the native token of TON, led the winners with a 2.21% increase to US$2.17, but was still down 9.96% for the week. Polkadot’s DOT token led the losers, edging 0.56% lower to US$3.99 for a 3.63% weekly loss.\nOn the regulatory front, the U.S. Securities and Exchange Commission (SEC) on Tuesdaydelayeda decision on the spot Bitcoin exchange-traded fund (ETF) application made by Cathie Woods’ Ark Investment Management and Swiss digital asset brokerage 21Shares.\nThe SEC was scheduled to make a decision by November 11 but it has now pushed that date back to January 10. The agency hasdelayedits decision multiple times on ETF applications from not only Ark and 21Shares, but also BlackRock, WisdomTree and Invesco Galaxy.\nThe delay was made after four Congress membersurgedthe SEC to approve pending spot Bitcoin ETF applications. At a WednesdayCongress hearing, SEC Chair Gary Gensler was questioned by multiple Congress members about his agency’saggressive stanceon crypto assets. But he stuck to the claim that most cryptos other than Bitcoin should be classified as securities and regulated by the SEC.\nDespite the pressure from Congress, Markus Thielen, head of research and strategy at digital asset service platform Matrixport, wrote in an emailed comment that “Gensler refused to release any details where the SEC stands in the (spot Bitcoin ETF) application process and rather criticised industry practices. This caused Bitcoin prices to retrace their rally attempt (yesterday).”\nOn the subject of Gensler’s speech, Keyrock’s d’Anethan said “it feels like American regulators are pushed more and more to take some action and I choose to see that as bullish: it’s a question of when they’ll give in, not if.”\nThe total crypto market capitalization edged up 0.35% in the past 24 hours to US$1.05 trillion, while trading volume rose 20.25% to US$27.26 billion.\nU.S. stock futures were higher as of 09:50 a.m. in Hong Kong. The Nasdaq futures index led the gains with a 0.21% increase. Wall Street closed mixed Wednesday. The Dow Jones Industrial Average logged losses, while the S&P 500 and Nasdaq Composite edged higher.\nMajor Asian stock indexes were mixed on Tuesday morning. China’s Shanghai Composite and South Korea’s Kospi booked gains, while Hong Kong’s Hang Seng and Japan’s Nikkei 225 dipped.\nThe U.S. government could partially shut down as early as Sunday as Congress struggles to pass a funding bill to support the operations through Nov. 17. If Congress fails to pass the bill by the end of September, a lapse in government funding could impact non-essential government functions and payment to government employees.\nThe U.S. government has had three partial shutdowns due to funding lapses in the past decade.\n“More likely than not, we are going to see a government shutdown,” Emerson Sprick, senior economic analyst at U.S.-based think tank the Bipartisan Policy Center,toldCNBC on Wednesday. “The question is for how long … How long it lasts has a real impact on American households, to a greater extent than just if it happens or not.”\nAbout 1.3 million active-duty military and 2 million civilian federal employees would go without pay for the duration of any shutdown,Bloombergreported Wednesday.\n“The more a shutdown lasts, the more it goes beyond federal employees,” Goldman Sachs analyst Alec Phillips told Bloomberg. “The longer it goes on, the indirect impact becomes larger.”\nBeyond government shutdown concerns, the U.S. stock market is also feeling the pressure of rising oil prices and U.S. treasury yields. The global oil price benchmark Brent crude finished atUS$96.55on Wednesday, its highest close since November 2022. The U.S. 10-year treasury yields settled at4.625%, the highest close since October 2007.\nOn the inflation front, Minneapolis Federal Reserve President Neel KashkaritoldCNBC on Wednesday he was unsure if the current U.S. interest rate of between 5.25% and 5.50% is “sufficiently restrictive” to bring the annual inflation rate below the Fed’s long-term goal of 2%. Kashkari said further hikes cannot be ruled out “given the dynamics of the reopening of the economy.”\nThe Fed meets on Nov. 1 to make its next decision on interest rates. TheCME FedWatch Toolpredicts a 77.6% chance of no interest rate hike in November, down from 82.5% on Wednesday. It also gives a 57.8% chance of another pause in December, down from 65.8% on Wednesday.\nInvestors now await the U.S. second-quarter personal consumption expenditure price index (PCE) on Thursday, which will provide further insights into inflation. Several Federal Reserve officials including Fed Chair Jerome Powell will also give speeches on Thursday.\n(Updates with equity section.)', '(Photo by Michael Nagle/Xinhua via Getty Images) US stocks were mixed on Wednesday as investors digested higher interest rates and oil prices. The 10-Year US Treasury yield surged to 4.64%, representing its highest level since August 2007. Crude oil prices surged 4% to $94 a barrel, representing its highest level since August 2022. US stocks ended Wednesday mixed in a whiplashed trading session as investors digested new highs in interest rates, oil prices, and the US dollar. Those three macro forces have been driving stock prices in recent weeks, helping drive a sizable September sell-off in the S&P 500 and Nasdaq 100, as investors grow concerned about the negative impact oil prices have on consumer sentiment, a higher dollar has on corporate profits, and higher interest rates have on equity valuations. The 10-year US Treasury yield hit a cycle high of 4.64%, representing its highest level since August 2007. That makes stocks less attractive as investors now have a true alternative in the form of lower risk fixed income, according to Bank of America. Meanwhile, US crude oil prices surged about 4% to $94 a barrel , representing its highest level since August 2022, and the US dollar index rose 0.40% to $106.34, representing its highest level since November 2022. Here\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Wednesday: S&P 500 : 4,274.57, up 0.02% Dow Jones Industrial Average : 33,550.67, down 0.2% (-68.21 points) Nasdaq Composite : 13,092.85, up 0.22% Here\'s what else happened today: Elon Musk said the UAW\'s strike demands, including a 40% salary increase, will drive America\'s big three automakers into bankruptcy. Fed President Neel Kashkari said the Fed would lose its credibility if it settled with 3% inflation rather than getting it back down to 2%. That could mean another round of interest rate hikes. Americans are starting to feel worse about the US economy, as the consumer confidence index dives to a four-month low. The\xa0Nasdaq Composite has dropped 9% since hitting its peak for the year on July 19, as investors worry about sticky inflation and higher interest rates. Oil prices could be headed to as high as $150 a barrel unless the US boosts its exploration efforts, a top shale executive warned. JPMorgan\'s top quant guru warned that the current stock market environment "rhymes with 2008" as headwinds continue to mount. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 3.78% to $93.81 a barrel. Brent crude , the international benchmark, jumped 2.89% to $96.68 a barrel. Gold fell 1.31% to $1,894.80 per ounce. The yield on the 10-year Treasury bond jumped eight basis points to 4.62%. Bitcoin jumped 0.11% to $26,242. Read the original article on Business Insider', '• US stocks were mixed on Wednesday as investors digested higher interest rates and oil prices.\n• The 10-Year US Treasury yield surged to 4.64%, representing its highest level since August 2007.\n• Crude oil prices surged 4% to $94 a barrel, representing its highest level since August 2022.\nUS stocks ended Wednesday mixed in a whiplashed trading session as investors digested new highs in interest rates, oil prices, and the US dollar.\nThose three macro forces have been driving stock prices in recent weeks, helping drive a sizable September sell-off in the S&P 500 and Nasdaq 100, as investors grow concerned about the negative impact oil prices have on consumer sentiment, a higher dollar has on corporate profits, and higher interest rates have on equity valuations.\nThe 10-year US Treasury yield hit a cycle high of 4.64%, representing its highest level since August 2007. That makes stocks less attractive as investors now have a true alternative in the form of lower risk fixed income,according to Bank of America.\nMeanwhile,US crude oil prices surged about 4% to $94 a barrel, representing its highest level since August 2022, and the US dollar index rose 0.40% to $106.34, representing its highest level since November 2022.\nHere\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Wednesday:\n• S&P 500:4,274.57, up 0.02%\n• Dow Jones Industrial Average:33,550.67, down 0.2% (-68.21 points)\n• Nasdaq Composite:13,092.85, up 0.22%\nHere\'s what else happened today:\n• Elon Musk said the UAW\'s strike demands, including a 40% salary increase,will drive America\'s big three automakers into bankruptcy.\n• Fed President Neel Kashkarisaid the Fed would lose its credibility if it settled with 3% inflationrather than getting it back down to 2%. That could mean another round of interest rate hikes.\n• Americans are starting to feel worse about the US economy,as the consumer confidence index dives to a four-month low.\n• The\xa0Nasdaq Composite has dropped 9% since hitting its peakfor the year on July 19, as investors worry about sticky inflation and higher interest rates.\n• Oil prices could be headed to as high as $150 a barrelunless the US boosts its exploration efforts, a top shale executive warned.\n• JPMorgan\'s top quant guru warned thatthe current stock market environment "rhymes with 2008"as headwinds continue to mount.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 3.78% to $93.81 a barrel.Brent crude, the international benchmark, jumped 2.89% to $96.68 a barrel.\n• Goldfell 1.31% to $1,894.80 per ounce.\n• The yield on the 10-year Treasury bond jumped eight basis points to 4.62%.\n• Bitcoinjumped 0.11% to $26,242.\nRead the original article onBusiness Insider', "Bitcoin (BTC) and ether (ETH) remained little changed over the past 24 hours amid tepid price catalysts and fading volumes in both spot and futures markets. The price of bitcoin appeared set to retake the $27,000 level early Wednesday, but the rally was turned back alongside a renewed slide in the U.S. stock market. FxPro markets analyst Alex Kuptsikevich told CoinDesk in a daily note that while cryptocurrencies saw increased buying equity markets were under the most pressure as the dollar was gaining momentum. However, this momentum didn't last long, which dampened bullish outlooks. “These growth impulses promise to remain a bull trap, offering the best opportunity to sell on the upside,” Kuptsikevich said. The trader added that the crypto sector could need banking problems or uncertainty about the solvency of governments to generate sustainable growth momentum. “Recent moves in bond markets show that something like this is brewing,” Kuptsikevich explained, stating that bitcoin and other cryptocurrencies “need financial chaos for growth.” Meanwhile, alternative tokens were some of the only volatile assets in the crypto market as bitcoin cash (BCH) jumped 8% and DeFi protocol Maker’s MKR tokens rose 7%. Growth in MKR could be tied to an increase in wallet balances holding the token on exchanges, indicating demand. The CoinDesk Market Index (CMI) , a broad-based index of hundreds of tokens, rose 0.95% in the past 24 hours. The U.S. Federal Reserve’s recent comments suggested that interest rates may remain high for some time to come, jolting broader markets in the U.S. as traders priced in inflation fears.", "Bitcoin (BTC) and ether (ETH) remained little changed over the past 24 hours amid tepid price catalysts and fading volumes in both spot and futures markets.\nThe price of bitcoin appeared set to retake the $27,000 level early Wednesday, but the rally was turned back alongside a renewed slide in the U.S. stock market.\nFxPro markets analyst Alex Kuptsikevich told CoinDesk in a daily note that while cryptocurrencies saw increased buying equity markets were under the most pressure as the dollar was gaining momentum. However, this momentum didn't last long, which dampened bullish outlooks.\n“These growth impulses promise to remain a bull trap, offering the best opportunity to sell on the upside,” Kuptsikevich said.\nThe trader added that the crypto sector could need banking problems or uncertainty about the solvency of governments to generate sustainable growth momentum.\n“Recent moves in bond markets show that something like this is brewing,” Kuptsikevich explained, stating that bitcoin and other cryptocurrencies “need financial chaos for growth.”\nMeanwhile, alternative tokens were some of the only volatile assets in the crypto market as bitcoin cash (BCH) jumped 8% and DeFi protocol Maker’s MKR tokens rose 7%.Growth in MKR could be tied to an increasein wallet balances holding the token on exchanges, indicating demand.\nTheCoinDesk Market Index (CMI), a broad-based index of hundreds of tokens, rose 0.95% in the past 24 hours.\nThe U.S. Federal Reserve’srecent commentssuggested that interest rates may remain high for some time to come, jolting broader markets in the U.S. as traders priced in inflation fears.", "Bitcoin (BTC) and ether (ETH) remained little changed over the past 24 hours amid tepid price catalysts and fading volumes in both spot and futures markets.\nThe price of bitcoin appeared set to retake the $27,000 level early Wednesday, but the rally was turned back alongside a renewed slide in the U.S. stock market.\nFxPro markets analyst Alex Kuptsikevich told CoinDesk in a daily note that while cryptocurrencies saw increased buying equity markets were under the most pressure as the dollar was gaining momentum. However, this momentum didn't last long, which dampened bullish outlooks.\n“These growth impulses promise to remain a bull trap, offering the best opportunity to sell on the upside,” Kuptsikevich said.\nThe trader added that the crypto sector could need banking problems or uncertainty about the solvency of governments to generate sustainable growth momentum.\n“Recent moves in bond markets show that something like this is brewing,” Kuptsikevich explained, stating that bitcoin and other cryptocurrencies “need financial chaos for growth.”\nMeanwhile, alternative tokens were some of the only volatile assets in the crypto market as bitcoin cash (BCH) jumped 8% and DeFi protocol Maker’s MKR tokens rose 7%.Growth in MKR could be tied to an increasein wallet balances holding the token on exchanges, indicating demand.\nTheCoinDesk Market Index (CMI), a broad-based index of hundreds of tokens, rose 0.95% in the past 24 hours.\nThe U.S. Federal Reserve’srecent commentssuggested that interest rates may remain high for some time to come, jolting broader markets in the U.S. as traders priced in inflation fears.", 'Investors appear to be taking Bitcoin off exchanges. Illustration: Getty (Namthip Muanthongthae via Getty Images) Analysis suggests investors are taking bitcoin off exchanges for long-term holding. In the past month, nearly 18,000 bitcoins, representing a decrease of nearly 1%, have been withdrawn from cryptocurrency exchanges, as per CryptoQuant data . This suggests they want to hold the digital asset because they expect a future price rise. The consensus amongst traders is that prices could rise if one of the spot bitcoin ETF applications that have been filed with the US Securities and Exchange Commission (SEC) is approved. A spot bitcoin exchange traded fund (ETF) is a financial product that investors hope will open the gateway for mainstream capital to flood the crypto market. Spot bitcoin ETF delays However, this week US regulators chose to postpone making a decision on more of the ETF filings. This time it involved the highly anticipated ARK 21Shares Bitcoin ETF . On Tuesday the SEC delayed its ruling on the ARK 21Shares Bitcoin ETF, and a similar filing from fund manager Global X. Ark Investment Management and 21Shares have been seeking an ETF approval since 2021. They made their latest spot bitcoin ETF application in April. After the filing, the SEC said it needed more time to rule, setting a deadline for November 11. However, the SEC said on Tuesday it would now take until January 10 to come to a decision on the application. Read more: Institutional investment brings new momentum to crypto The regulator is also giving itself at least another 45 days to make a decision on Global X\'s proposed bitcoin ETF. These delays signal the SEC could be planning to use the full amount of time it is allowed to decide on each filing. The regulator is allotted 240 days to consider approving spot bitcoin ETF applications. It is not immediately clear whether the SEC will do the same for competing proposals by BlackRock, Fidelity, WisdomTree and other companies. Bitcoin trading flat Bitcoin ( BTC-USD ) has traded flat after the recent postponements. The digital asset is locked in a tight range around the mid-$26,000 mark. The world\'s largest cryptocurrency by market capitalisation is currently changing hands for $26,432, a slight rise of 0.2% in the past 24 hours, according to CoinGecko . Story continues The digital asset is still down 60% from its November 2021 all-time high of around $68,000. However, it has fared better than most risk assets so far in 2023. When looking at the year-to-date price chart, bitcoin has gained 60% since January. This is significant considering the digital asset bottomed out at around $16,800 in November 2022, after the calamity of the FTX cryptocurrency exchange collapse . Read more: Crypto live prices Most analysts believe the current price is being supported by investor optimism that an exchange traded fund approval is only a matter of time. But after the recent delays from the SEC, this optimism could be wearing thin. BlackRock\'s spot bitcoin ETF The highest hopes are held for BlackRock\'s spot bitcoin ETF filing. With most analysts suggesting that the world\'s largest asset manager would not make such an application without the understanding that its approval is a foregone conclusion. BlackRock ( BLK ) filed for their spot bitcoin ETF on June 15. This prompted several other institutions to refile previous applications. Coinbase ( COIN ) was detailed as the crypto custodian and spot market data provider for BlackRock\'s filing. BNY Mellon ( BK ) was listed as its cash custodian. The filing was a surprise for many after BlackRock CEO Larry Fink had previously said bitcoin was an index for money laundering. Fink now seems bullish about the digital asset. During an interview on CNBC following his company\'s second-quarter earnings report, Fink stated that "more and more" gold investors have been inquiring about the role of cryptocurrency over the last five years. He added that ETF approvals could democratise access to bitcoin in the same way they have done for gold. Ongoing crypto winter The optimism that a spot bitcoin ETF could finally be approved cannot disguise significant fault lines showing throughout the crypto-ecosystem. Trading volume across centralised exchanges has slumped, venture capital funding is drying up, and in August volatility in bitcoin markets hit an all-time low. Also, according to a recent study , over 95% of NFTs are now worthless. A recent study by dappGambl said that of the 73,257 NFT collections identified, 69,795 of them have a market cap of zero ether ( ETH-USD ). "This statistic effectively means that 95% of people holding NFT collections are currently holding onto worthless investments," the analysts said. Watch: Can web3 emulate the success of the $350 billion traditional gaming market? | The Crypto Mile Download the Yahoo Finance app, available for Apple and Android .', 'Analysis suggests investors are taking bitcoin off exchanges for long-term holding. In the past month, nearly 18,000 bitcoins, representing a decrease of nearly 1%, have been withdrawn from cryptocurrency exchanges, as per CryptoQuantdata.\nThis suggests they want to hold the digital asset because they expect a future price rise.\nThe consensus amongst traders is that prices could rise if one of the spot bitcoin ETF applications that have been filed with the US Securities and Exchange Commission (SEC) is approved.\nA spot bitcoin exchange traded fund (ETF) is a financial product that investors hope will open the gateway for mainstream capital to flood the crypto market.\nHowever, this week US regulators chose to postpone making a decision on more of the ETF filings. This time it involved the highly anticipatedARK 21Shares Bitcoin ETF.\nOn Tuesday the SEC delayed its ruling on the ARK 21Shares Bitcoin ETF, and a similar filing from fund manager Global X.\nArk Investment Management and 21Shares have been seeking an ETF approval since 2021. They made their latest spot bitcoin ETF application in April.\nAfter the filing, the SEC said it needed more time to rule, setting a deadline for November 11. However, the SEC said on Tuesday it would now take until January 10 to come to a decision on the application.\nRead more:Institutional investment brings new momentum to crypto\nThe regulator is also giving itself at least another 45 days to make a decision on Global X\'s proposed bitcoin ETF.\nThese delays signal the SEC could be planning to use the full amount of time it is allowed to decide on each filing. The regulator is allotted 240 days to consider approving spot bitcoin ETF applications. It is not immediately clear whether the SEC will do the same for competing proposals by BlackRock, Fidelity, WisdomTree and other companies.\nBitcoin (BTC-USD) has traded flat after the recent postponements. The digital asset is locked in a tight range around the mid-$26,000 mark. The world\'s largest cryptocurrency by market capitalisation is currently changing hands for $26,432, a slight rise of 0.2% in the past 24 hours, according toCoinGecko.\nThe digital asset is still down 60% from its November 2021 all-time high of around $68,000. However, it has fared better than most risk assets so far in 2023. When looking at the year-to-date price chart, bitcoin has gained 60% since January. This is significant considering the digital asset bottomed out at around $16,800 in November 2022, after the calamity of theFTX cryptocurrency exchange collapse.\nRead more:Crypto live prices\nMost analysts believe the current price is being supported by investor optimism that an exchange traded fund approval is only a matter of time. But after the recent delays from the SEC, this optimism could be wearing thin.\nThe highest hopes are held for BlackRock\'s spot bitcoin ETF filing. With most analysts suggesting that the world\'s largest asset manager would not make such an application without the understanding that its approval is a foregone conclusion.\nBlackRock (BLK) filed for their spot bitcoin ETF on June 15. This prompted several other institutions to refile previous applications.\nCoinbase (COIN) was detailed as the crypto custodian and spot market data provider for BlackRock\'s filing. BNY Mellon (BK) was listed as its cash custodian. The filing was a surprise for many after BlackRock CEO Larry Fink had previouslysaidbitcoin was an index for money laundering.\nFink now seems bullish about the digital asset. During an interview on CNBC following his company\'s second-quarter earnings report, Fink stated that "more and more" gold investors have been inquiring about the role of cryptocurrency over the last five years. He added that ETF approvals could democratise access to bitcoin in the same way they have done for gold.\nThe optimism that a spot bitcoin ETF could finally be approved cannot disguise significant fault lines showing throughout the crypto-ecosystem. Trading volume across centralised exchanges has slumped, venture capital funding is drying up, and in August volatility in bitcoin markets hit an all-time low.\nAlso, according to arecent study, over 95% of NFTs are now worthless. A recent study by dappGambl said that of the 73,257 NFT collections identified, 69,795 of them have a market cap of zero ether (ETH-USD).\n"This statistic effectively means that 95% of people holding NFT collections are currently holding onto worthless investments," the analysts said.\nWatch: Can web3 emulate the success of the $350 billion traditional gaming market? | The Crypto Mile\nDownload the Yahoo Finance app, available forAppleandAndroid.', "The European Commission issued an 800,000 euro ($842,000) contract on Tuesday as it seeks to mitigate what it calls “significant harm” of crypto on the environment. The study, for which bids close on Nov. 10, will develop standards that feed into potential future EU policies to curb the impact of crypto on climate change, and to new energy efficiency labels for blockchains. “There is evidence that crypto-assets can cause significant harm on the climate and environment,” potentially undermining the bloc’s goal to cut greenhouse gas emissions, the European Commission said in tender documents , which suggest that new sustainability standards may be taken up in future laws. EU lawmakers worry about the energy-intensive proof-of-work consensus mechanism that underpins blockchains such as Bitcoin. During negotiations last year on the bloc’s Markets in Crypto Assets regulation, they came close to approving green controls that some characterized as a bitcoin ban . Though the final text doesn’t go that far, MiCA does require issuers to declare environmental impacts, using a method that still has to be nailed down. The EU study, to be produced over the course of a year, will look at green issues like crypto’s use of water, waste products and natural resources as well as energy, the commission said. Crypto's energy use has also come in the crosshairs of the U.S. government. A 2022 report from the White House found that major cryptoassets are responsible for 0.3% of global greenhouse gas emissions , though crypto proponents have also argued mining could help decarbonize energy grids . View comments", "The European Commission issued an 800,000 euro ($842,000) contract on Tuesday as it seeks to mitigate what it calls “significant harm” of crypto on the environment.\nThe study, for which bids close on Nov. 10, will develop standards that feed into potential future EU policies to curb the impact of crypto on climate change, and to new energy efficiency labels for blockchains.\n“There is evidence that crypto-assets can cause significant harm on the climate and environment,” potentially undermining the bloc’s goal to cut greenhouse gas emissions, the European Commission said intender documents, which suggest that new sustainability standards may be taken up in future laws.\nEU lawmakers worry about the energy-intensive proof-of-work consensus mechanism that underpins blockchains such as Bitcoin.\nDuring negotiations last year on the bloc’s Markets in Crypto Assets regulation, they came close to approving green controls that somecharacterized as a bitcoin ban. Though the final text doesn’t go that far, MiCA does require issuers to declare environmental impacts, using a method that still has to be nailed down.\nThe EU study, to be produced over the course of a year, will look at green issues like crypto’s use of water, waste products and natural resources as well as energy, the commission said.\nCrypto's energy use has also come in the crosshairs of the U.S. government. A 2022 report from the White House found that major cryptoassets are responsible for0.3% of global greenhouse gas emissions, though crypto proponents have also argued mining could helpdecarbonize energy grids.", 'The underperformance of listed digital asset companies means that there could be compelling\xa0 investment opportunities in the bitcoin (BTC) mining space, crypto services provider Matrixport said in a report on Thursday. If bitcoin were to climb to a new all-time high of $70,000 an investor would realize a return of only 167%, the report said. Investors could see larger gains by buying a diversified portfolio of publicly listed bitcoin mining companies including firms, such as HIVE Digital (HIVE), Bitfarms (BITF) and Iris Energy (IREN). Based on bitcoin’s current price, these stocks are trading at a 33% discount, and offer 52% upside, the note said. “In our regression analysis, the 10 stocks included could be valued 97% higher if bitcoin returns to $30,000 or an impressive 572% higher if bitcoin reaches a new all-time high and trades at $70,000,” wrote Markus Thielen, head of research. “For the sake of diversification, opting to invest in a selection of discounted bitcoin mining stocks or tokens with substantial growth potential could possibly represent the ultimate bet for 2024,” he wrote, noting that tokens have considerably more risk than listed stocks. Matrixport maintains a positive outlook for bitcoin, despite signs that the U.S. Securities and Exchange Commission (SEC) could delay the approval of a U.S. listed spot BTC exchange-trade-fund (ETF) until January 2024. Read more: Bitcoin Price May Boom in October; Could Hit $37K by Year-End: Matrixport', 'The underperformance of listed digital asset companies means that there could be compelling\xa0 investment opportunities in the bitcoin (BTC) mining space, crypto services provider Matrixport said in a report on Thursday.\nIf bitcoin were to climb to a new all-time high of $70,000 an investor would realize a return of only 167%, the report said. Investors could see larger gains by buying a diversified portfolio of publicly listed bitcoin mining companies including firms, such as HIVE Digital (HIVE), Bitfarms (BITF) and Iris Energy (IREN).\nBased on bitcoin’s current price, these stocks are trading at a 33% discount, and offer 52% upside, the note said.\n“In our regression analysis, the 10 stocks included could be valued 97% higher if bitcoin returns to $30,000 or an impressive 572% higher if bitcoin reaches a new all-time high and trades at $70,000,” wrote Markus Thielen, head of research.\n“For the sake of diversification, opting to invest in a selection of discounted bitcoin mining stocks or tokens with substantial growth potential could possibly represent the ultimate bet for 2024,” he wrote, noting that tokens have considerably more risk than listed stocks.\nMatrixport maintains a positive outlook for bitcoin, despite signs that the U.S. Securities and Exchange Commission (SEC) coulddelay the approvalof a U.S. listed spot BTC exchange-trade-fund (ETF) until January 2024.\nRead more:Bitcoin Price May Boom in October; Could Hit $37K by Year-End: Matrixport', 'The underperformance of listed digital asset companies means that there could be compelling\xa0 investment opportunities in the bitcoin (BTC) mining space, crypto services provider Matrixport said in a report on Thursday.\nIf bitcoin were to climb to a new all-time high of $70,000 an investor would realize a return of only 167%, the report said. Investors could see larger gains by buying a diversified portfolio of publicly listed bitcoin mining companies including firms, such as HIVE Digital (HIVE), Bitfarms (BITF) and Iris Energy (IREN).\nBased on bitcoin’s current price, these stocks are trading at a 33% discount, and offer 52% upside, the note said.\n“In our regression analysis, the 10 stocks included could be valued 97% higher if bitcoin returns to $30,000 or an impressive 572% higher if bitcoin reaches a new all-time high and trades at $70,000,” wrote Markus Thielen, head of research.\n“For the sake of diversification, opting to invest in a selection of discounted bitcoin mining stocks or tokens with substantial growth potential could possibly represent the ultimate bet for 2024,” he wrote, noting that tokens have considerably more risk than listed stocks.\nMatrixport maintains a positive outlook for bitcoin, despite signs that the U.S. Securities and Exchange Commission (SEC) coulddelay the approvalof a U.S. listed spot BTC exchange-trade-fund (ETF) until January 2024.\nRead more:Bitcoin Price May Boom in October; Could Hit $37K by Year-End: Matrixport', '1. SEC vs. Bitcoin ETFs: Lawmakers call\n2. NFTs: Down but not dead\n3. Mixin: US$200 million lost in crypto hack\nFrom the Editor’s Desk\nDear Reader,\nIt takes a lot for U.S. Democrats and Republicans to come together these days – particularly given the Trump-trance into which the latter have fallen in recent years – but congratulations are in order for Securities and Exchange Commission Chair Gary Gensler for having united lawmakers from the two sides.\nHaving distinguished himself for leading a crusade against crypto companies of all shapes and sizes, Mr. Gensler can now add the epithet “peace broker” to his résumé.\nUnfortunately for him, however, peace is the last thing with which he was rewarded at the House Financial Services Committee hearing on SEC oversight this week. His roasting before the committee came hot on the heels of a strongly worded letter from four of its members – two Democrat and t
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-28
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $516,778,636,300
- Hash Rate: 414558853.7494199
- Transaction Count: 378975.0
- Unique Addresses: 639899.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.46
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bankrupt FTX wants to start staking, and to hedge BTC and ETH sales as it liquidates a $3 billion crypto holding. It’s looking to Mike Novogratz’s Galaxy empire to maximize value from the sales. Bankrupt crypto exchange FTX wants to start selling, staking and hedging its sizable crypto holdings – and is seeking to hire Mike Novogratz’s Galaxy as an advisor to help, according to court filings made late Wednesday evening. FTX, which collapsed in November last year, wants to return funds to creditors in fiat currency rather than bitcoin (BTC) or ether (ETH) – but hopes careful trading can avoid denting the value of over $3 billion in crypto holdings. “Hedging bitcoin and ether will allow the Debtors [FTX] to limit potential downside risk prior to the sale of such bitcoin or ether,” the filing by FTX lawyers said. “Staking certain digital assets… will inure to the benefit of the estates — and, ultimately, creditors — by generating low risk returns on their otherwise idle digital assets. FTX is hoping interest on its crypto pile will add to the stock it can distribute to customers who are still waiting for their money back. The company, now run by restructuring expert John J. Ray III, worries that selling all in one go would cause the price to plummet, to the benefit of short sellers and other market participants. It’s turning to market experts to figure out how best to avoid that, for example via weekly sales limits. “Galaxy Asset Management has extensive experience in areas relevant to digital asset management and trading, including with respect to the types of transactions and investment objectives contemplated,” the document said, referring to the Security and Exchange Commission-approved investment advisor that forms part of Mike Novogratz’s crypto conglomerate. Galaxy Digital (GLXY), another part of that empire, has previously declared it had tens of millions tied up in FTX at the time of its bankruptcy, and new filings detail the conflict-of-interest procedures that will ensure the asset managers act in FTX’s best interests. In an April filing , FTX company said it had $3.4 billion worth of major, liquid crypto assets. In July, it said it expected to monetize crypto into cash before returning to customers, though international customers may be able to access a rebooted exchange. Other bankrupt crypto firms such as lender Celsius have opted to make distributions in liquid cryptocurrencies including BTC and ETH. The requests must be approved by a Delaware bankruptcy court, which earlier on Wednesday heard that legal fees were costing the company $1.5 million per day as it seeks to wind up. On Tuesday, FTX founder Sam Bankman-Fried pleaded not guilty to a rejigged series of fraud charges relating to his management of the company....
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['The past year has seen its fair share of blowups in the crypto industry. Big names headlined by the cryptocurrency exchangeFTXhave gone under, sending out shockwaves through a once US$3 trillion market.\nNow reduced to a third of that size, the market is struggling to make a comeback. Part of that difficulty is a lack of trust in crypto — far from the easiest bell to unring as news of scams, hacks and other assorted scandals have become a mainstay of mainstream and blockchain-focused media.\nMichael Gronager, former COO of cryptocurrency exchange Kraken, co-founded blockchain analytics firm Chainalysis in 2014 in the wake of that year’s hack on Tokyo-based Bitcoin exchangeMt. Gox. The biggest heist in crypto history saw cyber thieves make off with over 850,000 Bitcoin (almost US$23 billion at today’s value).\nA PhD holder in quantum mechanics, Gronager set out to map the crypto industry via the Chainalysis platform to help identify hacks and other forms of illicit activity on the blockchain. Partnering with governments, research institutions and other organizations in over 70 countries, the platform scans billions of data sets for signs of misuse, producing reports on themes such as crypto crime, industry maturity and digital asset adoption.\nThe New York-based company, which was valued atUS$8.6 billionby mid-2022, is backed by some of the biggest names in finance, including investment banks Blackstone and Bank of New York Mellon. Gronager spoke toForkast’s Will Fee atToken 2049in Singapore to discuss use cases for the platform’s data, its aims and the Asia focus of recent findings.\nThe interview has been edited for clarity and length.\nWill Fee:After venture capital firms poured aroundUS$41 billioninto crypto during the bull market of 2021-2022, funding dollars have drained out of the industry in 2023. How does that affect the blockchain analytics sector?\nMichael Gronager:I don’t think that affects analytics. What we do and what we look at are the amounts moving in the crypto space. We don’t just look at crypto from an illicit activity point of view. We also look at it from the perspective that crypto has become the rails and infrastructure for traditional finance. And that means that crypto is not actually crypto anymore.\nCrypto has changed. More than half of all volume in terms of value moved on blockchains today is national currencies moved in the form of stablecoins. That’s a change that happened over the last year. So the majority of all value moved on the blockchain is not moving, it’s not volatile. In fact, it’s stablecoins, it’s national currencies. That just goes to show the solidity and the value of the underlying infrastructure that has been built out over the last ten years.\nFee:At Token 2049, you spoke on a panel of blockchain analysts about the current need for the sector to cover absolutely everything that’s out there, regardless of how much merit a particular project has. The phrase you used was “nothing is everything.” Please expand on that idea.\nGronager:The point is that you really need to look at a lot of projects. There’s constantly a new project in Crypto, there’s a new blockchain emerging, there’s an app chain, there’s a layer-2, there’s a lot of things going on and it happens with such high velocity. Also layer-2s are extremely important because the data on layer-2 will be incredibly hard to obtain a year from now. You need to be present at the time of the transactions and analyze it there and then.\nAt the same time, you don’t know which project is going to win. There’ll be customers or parts of the ecosystem that obsess about a certain blockchain, and you need to be able to serve them with the same quality data as anyone else. That’s why I’m of the opinion that basically everything matters. You need to support it all.\nFee:A Chainalysis report released February found thatsmall but significantcrypto funds are used to fund pro-Russia militia groups fighting in Ukraine, as well as other groups involved in global conflicts. What other key trends in crypto usage have Chainalysis discovered?\nGronager:When Russia invaded Ukraine more than a year ago now, immediately at Chainalysis we were up in arms more or less. Basically we asked ourselves how we could help. What can we actually do to ensure that this is not going to be as bad as it looks like it will be? Which is very bad indeed. We decided to focus our analytics on ways cryptocurrencies are used to fund pro-Russia militias versus how they can be used to further Ukraine’s performance in the war.\nCrypto is really good at directing money at smaller groups around the globe. That goes to help smaller factions in Ukraine. It goes to help families in Ukraine. There’s a lot of things that are really, really positive there. But it is also used by Russian militias and others to enable them to buy petrol for their cars, to enable them to buy explosives, to do other things in Ukraine. It’s important to understand and map out the activities there to figure out where we can intervene and actually prevent it from happening.\nFee:There’s clearly a fair amount of side choosing involved there. February’s report found that Russian fighters in militia groups in Ukraine were using the small crypto funds they receive to buy things like first aid kits or winter boots, as well as pieces of military hardware like drones and night goggles. Those individual soldiers are in a hellish situation themselves. Is Chainalysis’ aim to identify and prevent those kinds of small purchases too?\nGronager:It absolutely is, yes. It is a choice for Chainalysis as a company. We’re based in the U.S. We work a lot with the U.S. government and we’re very aligned with U.S. policies. We work with friends of the U.S. in various ways and one of the friends of the U.S. is Ukraine. So there’s no doubt that we have picked a side here.\nFee:The collapse of U.S.-founded cryptocurrency exchange FTX in November last year has rocked the global crypto market. Why was that failure not prevented and how can the analytics sector stop something similar happening again in future?\nGronager:I don’t think the industry wanted to listen, to be honest. I look back on the sentiment in the world a year ago when the macroeconomic outlook began to worsen. Everyone wanted to believe it was just short-term, that all was not over yet. The same thing happened around FTX. There might have been some signals. But it was really hard to show anyone.\nWe’ve looked in the past at the risk associated with certain tokens and certain assets in the crypto space. Over the years, we’ve then tried to build a product out of that which people want to buy. My honest opinion is that, a little bit more than a year ago, no one cared because they kind of wanted to believe that everything was going great.\nWe’re also in a very awkward position where, if we were to want to call out any of these things, we would get a lot of haters. That’s because we also may get it wrong at some point. But I think the industry is ready for that now. I think the industry wants to have some of that information and we are of course building products in that direction as well to prevent the same thing (a collapse on the scale of FTX) happening again.\nFee:Chainalysis released this year’sGlobal Crypto Adoption Indexduring the first day of the Token 2049 conference. What are the key takeaways?\nGronager:Really, the key highlight is that the Asia-Pacific region makes up a lot of thetop tencountries. India, Pakistan, Thailand, Vietnam, the Philippines are all high on the list in terms of crypto adoption. But what does adoption of crypto actually mean?\nBasically, we looked at how many people hold or use cryptocurrencies in a jurisdiction relative to the population in that country. Of course, India ranks high on the list with a lot of activity because India is a huge country. Vietnam too. But the U.S. is actually high on the list as well, meaning there’s still a lot of crypto activity there.\nAnother key takeaway, which is similar to what we saw in the report a year ago, is that there’s actually not just one use case for crypto. There are many different use cases and different geographies have different use cases. For some countries it’s speculation. Other countries it’s gaming, whereas in some countries it’s more to do with remittances and ensuring you can send funds. Then there are the countries that focus on internal payments because the established financial system there is maybe less good than what you can get in the crypto space.\nFee:Based on the report’s findings, why do you think lower-to-middle income countries are now turning to crypto?\nGronager:Banking can seem very simple for you and I. We have a bank account, we’ve been vetted and so on. But there are a lot of people in India, say, that don’t have identity papers. How can you get a bank account if you don’t have an identity? Of course everyone has an identity. You know that I’m me and you are you. But what an identity really means is that your government has a piece of paper that says you are you.\nBut there are cases where they might not have that. So how do you transfer money? Well, you can use crypto and you can still get money from relatives abroad. You can get money from elsewhere. You can actually have a functioning economy. You can use cash as well. But as the world has moved online, cash is really not practical. If you are part of an online community, you can still have a phone even if you don’t have identity papers. Those are just some of the reasons why you might turn to crypto.', 'The past year has seen its fair share of blowups in the crypto industry. Big names headlined by the cryptocurrency exchange FTX have gone under, sending out shockwaves through a once US$3 trillion market. Now reduced to a third of that size, the market is struggling to make a comeback. Part of that difficulty is a lack of trust in crypto — far from the easiest bell to unring as news of scams, hacks and other assorted scandals have become a mainstay of mainstream and blockchain-focused media. Michael Gronager, former COO of cryptocurrency exchange Kraken, co-founded blockchain analytics firm Chainalysis in 2014 in the wake of that year’s hack on Tokyo-based Bitcoin exchange Mt. Gox . The biggest heist in crypto history saw cyber thieves make off with over 850,000 Bitcoin (almost US$23 billion at today’s value). A PhD holder in quantum mechanics, Gronager set out to map the crypto industry via the Chainalysis platform to help identify hacks and other forms of illicit activity on the blockchain. Partnering with governments, research institutions and other organizations in over 70 countries, the platform scans billions of data sets for signs of misuse, producing reports on themes such as crypto crime, industry maturity and digital asset adoption. The New York-based company, which was valued at US$8.6 billion by mid-2022, is backed by some of the biggest names in finance, including investment banks Blackstone and Bank of New York Mellon. Gronager spoke to Forkast ’s Will Fee at Token 2049 in Singapore to discuss use cases for the platform’s data, its aims and the Asia focus of recent findings. The interview has been edited for clarity and length. Will Fee: After venture capital firms poured around US$41 billion into crypto during the bull market of 2021-2022, funding dollars have drained out of the industry in 2023. How does that affect the blockchain analytics sector? Michael Gronager: I don’t think that affects analytics. What we do and what we look at are the amounts moving in the crypto space. We don’t just look at crypto from an illicit activity point of view. We also look at it from the perspective that crypto has become the rails and infrastructure for traditional finance. And that means that crypto is not actually crypto anymore. Crypto has changed. More than half of all volume in terms of value moved on blockchains today is national currencies moved in the form of stablecoins. That’s a change that happened over the last year. So the majority of all value moved on the blockchain is not moving, it’s not volatile. In fact, it’s stablecoins, it’s national currencies. That just goes to show the solidity and the value of the underlying infrastructure that has been built out over the last ten years. Story continues Fee: At Token 2049, you spoke on a panel of blockchain analysts about the current need for the sector to cover absolutely everything that’s out there, regardless of how much merit a particular project has. The phrase you used was “nothing is everything.” Please expand on that idea. Gronager: The point is that you really need to look at a lot of projects. There’s constantly a new project in Crypto, there’s a new blockchain emerging, there’s an app chain, there’s a layer-2, there’s a lot of things going on and it happens with such high velocity. Also layer-2s are extremely important because the data on layer-2 will be incredibly hard to obtain a year from now. You need to be present at the time of the transactions and analyze it there and then. At the same time, you don’t know which project is going to win. There’ll be customers or parts of the ecosystem that obsess about a certain blockchain, and you need to be able to serve them with the same quality data as anyone else. That’s why I’m of the opinion that basically everything matters. You need to support it all. Fee: A Chainalysis report released February found that small but significant crypto funds are used to fund pro-Russia militia groups fighting in Ukraine, as well as other groups involved in global conflicts. What other key trends in crypto usage have Chainalysis discovered? Gronager: When Russia invaded Ukraine more than a year ago now, immediately at Chainalysis we were up in arms more or less. Basically we asked ourselves how we could help. What can we actually do to ensure that this is not going to be as bad as it looks like it will be? Which is very bad indeed. We decided to focus our analytics on ways cryptocurrencies are used to fund pro-Russia militias versus how they can be used to further Ukraine’s performance in the war. Crypto is really good at directing money at smaller groups around the globe. That goes to help smaller factions in Ukraine. It goes to help families in Ukraine. There’s a lot of things that are really, really positive there. But it is also used by Russian militias and others to enable them to buy petrol for their cars, to enable them to buy explosives, to do other things in Ukraine. It’s important to understand and map out the activities there to figure out where we can intervene and actually prevent it from happening. Fee: There’s clearly a fair amount of side choosing involved there. February’s report found that Russian fighters in militia groups in Ukraine were using the small crypto funds they receive to buy things like first aid kits or winter boots, as well as pieces of military hardware like drones and night goggles. Those individual soldiers are in a hellish situation themselves. Is Chainalysis’ aim to identify and prevent those kinds of small purchases too? Gronager: It absolutely is, yes. It is a choice for Chainalysis as a company. We’re based in the U.S. We work a lot with the U.S. government and we’re very aligned with U.S. policies. We work with friends of the U.S. in various ways and one of the friends of the U.S. is Ukraine. So there’s no doubt that we have picked a side here. Fee: The collapse of U.S.-founded cryptocurrency exchange FTX in November last year has rocked the global crypto market. Why was that failure not prevented and how can the analytics sector stop something similar happening again in future? Gronager: I don’t think the industry wanted to listen, to be honest. I look back on the sentiment in the world a year ago when the macroeconomic outlook began to worsen. Everyone wanted to believe it was just short-term, that all was not over yet. The same thing happened around FTX. There might have been some signals. But it was really hard to show anyone. We’ve looked in the past at the risk associated with certain tokens and certain assets in the crypto space. Over the years, we’ve then tried to build a product out of that which people want to buy. My honest opinion is that, a little bit more than a year ago, no one cared because they kind of wanted to believe that everything was going great. We’re also in a very awkward position where, if we were to want to call out any of these things, we would get a lot of haters. That’s because we also may get it wrong at some point. But I think the industry is ready for that now. I think the industry wants to have some of that information and we are of course building products in that direction as well to prevent the same thing (a collapse on the scale of FTX) happening again. Fee: Chainalysis released this year’s Global Crypto Adoption Index during the first day of the Token 2049 conference. What are the key takeaways? Gronager: Really, the key highlight is that the Asia-Pacific region makes up a lot of the top ten countries. India, Pakistan, Thailand, Vietnam, the Philippines are all high on the list in terms of crypto adoption. But what does adoption of crypto actually mean? Basically, we looked at how many people hold or use cryptocurrencies in a jurisdiction relative to the population in that country. Of course, India ranks high on the list with a lot of activity because India is a huge country. Vietnam too. But the U.S. is actually high on the list as well, meaning there’s still a lot of crypto activity there. Another key takeaway, which is similar to what we saw in the report a year ago, is that there’s actually not just one use case for crypto. There are many different use cases and different geographies have different use cases. For some countries it’s speculation. Other countries it’s gaming, whereas in some countries it’s more to do with remittances and ensuring you can send funds. Then there are the countries that focus on internal payments because the established financial system there is maybe less good than what you can get in the crypto space. Fee: Based on the report’s findings, why do you think lower-to-middle income countries are now turning to crypto? Gronager: Banking can seem very simple for you and I. We have a bank account, we’ve been vetted and so on. But there are a lot of people in India, say, that don’t have identity papers. How can you get a bank account if you don’t have an identity? Of course everyone has an identity. You know that I’m me and you are you. But what an identity really means is that your government has a piece of paper that says you are you. But there are cases where they might not have that. So how do you transfer money? Well, you can use crypto and you can still get money from relatives abroad. You can get money from elsewhere. You can actually have a functioning economy. You can use cash as well. But as the world has moved online, cash is really not practical. If you are part of an online community, you can still have a phone even if you don’t have identity papers. Those are just some of the reasons why you might turn to crypto. View comments', '• US stocks moved higher on Thursday, while bond yields fell.\n• The Dow Jones Industrial Average gained more than 100 points.\n• The 10-year yield retreated from a 15-year high to about 4.606%.\nUS stocks closed in the green on Thursday as bond yields retreated from multi-year highs.\nInvestors pushed stocks higher as they try to rebound from steep losses in the month. The 10-year US Treasury edged down from its highest market since 2007, giving some relief to traders that have been dealing with the outlook for higher-for-longer interest rates since last week\'s Federal Reserve policy meeting.\n"As we\'ve been highlighting the market has been stuck in a bit of a negative feedback loop without a clear catalyst to break that," Michael Reinking, senior market strategist at the NYSE said. "The moves in equities, the US dollar, bonds and oil are all starting to approach extreme levels so traders are on the lookout for a counter trend overbought/oversold move."\nEarlier in the day, the Labor Department announced initial jobless claims climbed to 204,000 for the week leading up to September 23, below the estimated 214,000. At the same time, continuing claims moved higher to 1.67 million, just below estimates.\nHere\'s where US indexes stood as the market closed 4:00 p.m. on Thursday:\n• S&P 500:4,299.71, up 0.59%\n• Dow Jones Industrial Average:33,666.34, up 0.35% (+116.07 points)\n• Nasdaq Composite:13,201.28, up 0.83%\nHere\'s what else is going on:\n• Peloton stock surged following the announcement of itsLululemon partnership.\n• Pending home salesplunged in Augustas high mortgage rates weigh on Americans.\n• Home ownership is nowunaffordable in 80% of US counties.\n• The post-crisis era for stocks was"Easy Street" for investors, but that\'s unlikely to be repeated.\n• Surging oil prices could cause demand to crumble, and one energy executive said thatSaudi Arabia could take its "foot off the brake"sooner than markets expect to.\n• Bond vigilantes may be waking upas the US deficit balloons, a market veteran said.\n• Tech stocks could have a"springboard for growth" into 2024that Wall Street has underestimated, Dan Ives said.\nIn commodities, bonds, and crypto:\n• Oil prices dropped, withWest Texas Intermediatedown 2.12% to $91.68 a barrel.Brent crude, the international benchmark fell 1.43% to $95.17 a barrel.\n• Goldedged lower 0.44% to $1,882.50 per ounce.\n• The10-year Treasury yieldmoved fell five basis points to 4.579%.\n• Bitcoinclimbed 2.70% to $26,959.61.\nRead the original article onBusiness Insider', 'Reuters / Brendan McDermid US stocks moved higher on Thursday, while bond yields fell. The Dow Jones Industrial Average gained more than 100 points. The 10-year yield retreated from a 15-year high to about 4.606%. US stocks closed in the green on Thursday as bond yields retreated from multi-year highs. Investors pushed stocks higher as they try to rebound from steep losses in the month. The 10-year US Treasury edged down from its highest market since 2007, giving some relief to traders that have been dealing with the outlook for higher-for-longer interest rates since last week\'s Federal Reserve policy meeting. "As we\'ve been highlighting the market has been stuck in a bit of a negative feedback loop without a clear catalyst to break that," Michael Reinking, senior market strategist at the NYSE said. "The moves in equities, the US dollar, bonds and oil are all starting to approach extreme levels so traders are on the lookout for a counter trend overbought/oversold move." Earlier in the day, the Labor Department announced initial jobless claims climbed to 204,000 for the week leading up to September 23, below the estimated 214,000. At the same time, continuing claims moved higher to 1.67 million, just below estimates. Here\'s where US indexes stood as the market closed 4:00 p.m. on Thursday: S&P 500 : 4,299.71, up 0.59% Dow Jones Industrial Average : 33,666.34, up 0.35% (+116.07 points) Nasdaq Composite : 13,201.28, up 0.83% Here\'s what else is going on: Peloton stock surged following the announcement of its Lululemon partnership . Pending home sales plunged in August as high mortgage rates weigh on Americans. Home ownership is now unaffordable in 80% of US counties . The post-crisis era for stocks was "Easy Street" for investors , but that\'s unlikely to be repeated. Surging oil prices could cause demand to crumble, and one energy executive said that Saudi Arabia could take its "foot off the brake" sooner than markets expect to. Bond vigilantes may be waking up as the US deficit balloons, a market veteran said. Tech stocks could have a "springboard for growth" into 2024 that Wall Street has underestimated, Dan Ives said. Story continues In commodities, bonds, and crypto: Oil prices dropped, with West Texas Intermediate down 2.12% to $91.68 a barrel. Brent crude , the international benchmark fell 1.43% to $95.17 a barrel. Gold edged lower 0.44% to $1,882.50 per ounce. The 10-year Treasury yield moved fell five basis points to 4.579%. Bitcoin climbed 2.70% to $26,959.61. Read the original article on Business Insider', 'Lifetime Achievement Award presented to Stephen J. Adler , formerly of Reuters; Minard Editor Award presented to Nancy Rivera Brooks of the Los Angeles Times NEW YORK , Sept. 29, 2023 /PRNewswire/ -- Journalists from around the world attended tonight\'s Gerald Loeb Awards event at Capitale in New York City , where the 2023 winners were announced. Lifetime achievement honoree Stephen J. Adler , former editor-in-chief of Reuters, and Minard Editor honoree Nancy Rivera Brooks , deputy business editor at Los Angeles Times , were celebrated during the show. The Gerald Loeb Awards are among the highest honors in journalism, recognizing the work of journalists whose contributions illuminate the worlds of business, finance and the economy for readers and viewers worldwide. Lifetime Achievement Award recipient Stephen J. Adler, formerly of Reuters, at the 2023 Loeb Awards on September 28, 2023, in New York City. Tyler Mathisen , co-anchor of CNBC\'s "Power Lunch," served as the master of ceremonies for the show, which also included a moment of silence for all the journalists that are currently detained, imprisoned or have been lost in the line of duty. Antonio Bernardo , dean of UCLA Anderson School of Management and chairman of the G. and R. Loeb Foundation, welcomed Loeb Awards honorees and all attendees. Throughout the show, competition categories were presented by journalists from ABC News, Bloomberg News, Cheddar, CBS News, CNN, Fox Business and NBC News. Announcements of finalists were voiced by Frank Mottek , host of "Mottek on Money" on KABC-AM. Highlights from this year\'s event can be experienced by searching #LoebAwards on X. 2023 Competition Winners The following is a list of the journalists and media outlets that received 2023 Loeb Awards in the 12 competition categories: AUDIO CATEGORY (tie) "In Trust" \x96 Bloomberg News and iHeart Media Rachel Adams-Heard , Allison Herrera (Salinan), Davis Land , Jeff Grocott , Samantha Storey and Victor Yvellez "Who Killed Daphne?" \x96 Reuters, Times of Malta and Wondery Stephen Grey , Jacob Borg , Russell Finch , Nikka Singh and the Wondery Miniseries Team Story continues BEAT REPORTING CATEGORY "Cracks in Crypto Empire" \x96 CoinDesk Ian Allison , Tracy Wang , Nick Baker , Cheyenne Ligon , Sam Reynolds , Sam Kessler , Nikhilesh De and Reilly Decker BREAKING NEWS CATEGORY "The Collapse of FTX" \x96 Reuters Tom Wilson , Angus Berwick , Chris Prentice , Hannah Lang , Koh Gui Qing, Jasper Ward , Luc Cohen , Elizabeth Howcroft , Lawrence Delevingne, Anirban Sen and Greg Roumeliotis COMMENTARY CATEGORY "Coverage of the Infant Formula Shortage" \x96 The Washington Post Alyssa Rosenberg EXPLANATORY CATEGORY "Repowering the West" \x96 Los Angeles Times Sammy Roth , Robert Gauthier , Maggie Beidelman , Jessica Q. Chen , Claire Hannah Collins , Ashley Cai and Thomas Suh Lauder FEATURE CATEGORY "The Crypto Trap: Inside the Bitcoin Bust That Took Down the Web\'s Biggest Child Abuse Site" \x96 WIRED Andy Greenberg INTERNATIONAL CATEGORY "The Amazon, Undone" \x96 The Washington Post Terrence McCoy INVESTIGATIVE CATEGORY "Profit, Pain, and Private Equity" \x96 BuzzFeed News Kendall Taggart , John Templon , Anthony Cormier and Jason Leopold LOCAL CATEGORY "Legal Weed, Broken Promises" \x96 Los Angeles Times Adam Elmahrek, Paige St. John , Robert J. Lopez , Ruben Vives , Marisa Gerber , Kiera Feldman and Brian van der Brug PERSONAL FINANCE AND CONSUMER REPORTING CATEGORY "Diagnosis: Debt" \x96 KFF Health News, NPR and CBS News Noam N. Levey , Aneri Pattani , Yuki Noguchi , Anna Werner , Bram Sable-Smith , Juweek Adolphe and Megan Kalata VIDEO CATEGORY "How Russia Stole Ukraine\'s Grain" \x96 The Wall Street Journal Emma Scott , Costas Paris, Jane Lytvynenko , Alistair MacDonald , Lisa Schwartz , Till Daldrup , Avani Yadav , Robert Libetti , Christopher S. Stewart and Ben Weltman VISUAL STORYTELLING CATEGORY "Life in Hong Kong\'s Shoebox Housing" \x96 South China Morning Post Marcelo Duhalde , Kaliz Lee, Han Huang , Adolfo Arranz , Fiona Sun and Dennis Wong The board of trustees of the G. and R. Loeb Foundation and UCLA Anderson wish to thank all those who contributed to the success of the 2023 Loeb Awards: Gold Sponsor: Reuters Silver Sponsors: Bloomberg, The Wall Street Journal Bronze Sponsors: CBS News, Financial Times, Los Angeles Times , The New York Times , Norman Pearlstine , The Washington Post Associate Sponsors: Associated Press, Award Force, The Information Interactive Graphics Partner: Tagboard Show Production Partner: Impact Arts Events Group The G. and R. Loeb Foundation Inc. is a 501(c)(3) nonprofit organization that operates primarily on competition entry fees, banquet ticket sales, sponsorships and private support. For more information about the awards, please visit anderson.ucla.edu/gerald-loeb-awards . About Gerald Loeb Gerald Martin Loeb was born in 1899 in San Francisco, California . He began his career in 1921, in the bond department of a securities firm. He moved to New York City in 1924 to help establish E.F. Hutton and eventually ascended to vice chairman of the board. During Gerald Loeb\'s career, he was a favorite of business and financial journalists for his willingness to be interviewed and was described as "probably the most quoted man on Wall Street" ( Forbes 1955). He was also an author of two investment strategy books, a guest columnist for Forbes and widely considered a Wall Street icon. In 1957, he established the G. and R. Loeb Foundation (under the stewardship of the University of Connecticut ) to present the Gerald Loeb Awards for Distinguished Business and Financial Journalism. In 1973, he transferred the stewardship of the awards to UCLA Anderson School of Management under the deanship of Harold Williams . About UCLA Anderson School of Management UCLA Anderson School of Management is among the leading business schools in the world, with faculty members globally renowned for their teaching excellence and research in advancing management thinking. Located in Los Angeles , gateway to the growing economies of Latin America and Asia and a city that personifies innovation in a diverse range of endeavors, UCLA Anderson\'s MBA, Fully Employed MBA, Executive MBA, UCLA-NUS Executive MBA, Master of Financial Engineering, Master of Science in Business Analytics, doctoral and executive education programs embody the school\'s Think in the Next ethos. Annually, some 1,800 students are trained to be global leaders seeking the business models and community solutions of tomorrow. Media Contact: Jonathan\xa0Daillak (310) 825-4478 [email protected] Minard Editor Award recipient Nancy Rivera Brooks of the Los Angeles Times, at the 2023 Loeb Awards on September 28, 2023, in New York City. The Gerald Loeb Awards are the most prestigious honor in business journalism in the United States. They were established in 1957 by the late Gerald Loeb, a founding partner of E.F. Hutton. Loeb had a deep appreciation for the significant role that journalists fulfill in society and created the awards to encourage and support reporting on business and finance that will inform and protect both the private investor and the public. The Loeb Foundation is a 501(c)(3) nonprofit organization. (PRNewsfoto/UCLA Anderson School of Mgmt) (PRNewsfoto/UCLA Anderson School of Managem) Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/winners-of-the-2023-gerald-loeb-awards-announced-by-ucla-anderson-at-new-york-city-event-301942571.html SOURCE UCLA Anderson School of Management', 'Lifetime Achievement Award presented to Stephen J. Adler , formerly of Reuters; Minard Editor Award presented to Nancy Rivera Brooks of the Los Angeles Times NEW YORK , Sept. 29, 2023 /PRNewswire/ -- Journalists from around the world attended tonight\'s Gerald Loeb Awards event at Capitale in New York City , where the 2023 winners were announced. Lifetime achievement honoree Stephen J. Adler , former editor-in-chief of Reuters, and Minard Editor honoree Nancy Rivera Brooks , deputy business editor at Los Angeles Times , were celebrated during the show. The Gerald Loeb Awards are among the highest honors in journalism, recognizing the work of journalists whose contributions illuminate the worlds of business, finance and the economy for readers and viewers worldwide. Lifetime Achievement Award recipient Stephen J. Adler, formerly of Reuters, at the 2023 Loeb Awards on September 28, 2023, in New York City. Tyler Mathisen , co-anchor of CNBC\'s "Power Lunch," served as the master of ceremonies for the show, which also included a moment of silence for all the journalists that are currently detained, imprisoned or have been lost in the line of duty. Antonio Bernardo , dean of UCLA Anderson School of Management and chairman of the G. and R. Loeb Foundation, welcomed Loeb Awards honorees and all attendees. Throughout the show, competition categories were presented by journalists from ABC News, Bloomberg News, Cheddar, CBS News, CNN, Fox Business and NBC News. Announcements of finalists were voiced by Frank Mottek , host of "Mottek on Money" on KABC-AM. Highlights from this year\'s event can be experienced by searching #LoebAwards on X. 2023 Competition Winners The following is a list of the journalists and media outlets that received 2023 Loeb Awards in the 12 competition categories: AUDIO CATEGORY (tie) "In Trust" \x96 Bloomberg News and iHeart Media Rachel Adams-Heard , Allison Herrera (Salinan), Davis Land , Jeff Grocott , Samantha Storey and Victor Yvellez "Who Killed Daphne?" \x96 Reuters, Times of Malta and Wondery Stephen Grey , Jacob Borg , Russell Finch , Nikka Singh and the Wondery Miniseries Team Story continues BEAT REPORTING CATEGORY "Cracks in Crypto Empire" \x96 CoinDesk Ian Allison , Tracy Wang , Nick Baker , Cheyenne Ligon , Sam Reynolds , Sam Kessler , Nikhilesh De and Reilly Decker BREAKING NEWS CATEGORY "The Collapse of FTX" \x96 Reuters Tom Wilson , Angus Berwick , Chris Prentice , Hannah Lang , Koh Gui Qing, Jasper Ward , Luc Cohen , Elizabeth Howcroft , Lawrence Delevingne, Anirban Sen and Greg Roumeliotis COMMENTARY CATEGORY "Coverage of the Infant Formula Shortage" \x96 The Washington Post Alyssa Rosenberg EXPLANATORY CATEGORY "Repowering the West" \x96 Los Angeles Times Sammy Roth , Robert Gauthier , Maggie Beidelman , Jessica Q. Chen , Claire Hannah Collins , Ashley Cai and Thomas Suh Lauder FEATURE CATEGORY "The Crypto Trap: Inside the Bitcoin Bust That Took Down the Web\'s Biggest Child Abuse Site" \x96 WIRED Andy Greenberg INTERNATIONAL CATEGORY "The Amazon, Undone" \x96 The Washington Post Terrence McCoy INVESTIGATIVE CATEGORY "Profit, Pain, and Private Equity" \x96 BuzzFeed News Kendall Taggart , John Templon , Anthony Cormier and Jason Leopold LOCAL CATEGORY "Legal Weed, Broken Promises" \x96 Los Angeles Times Adam Elmahrek, Paige St. John , Robert J. Lopez , Ruben Vives , Marisa Gerber , Kiera Feldman and Brian van der Brug PERSONAL FINANCE AND CONSUMER REPORTING CATEGORY "Diagnosis: Debt" \x96 KFF Health News, NPR and CBS News Noam N. Levey , Aneri Pattani , Yuki Noguchi , Anna Werner , Bram Sable-Smith , Juweek Adolphe and Megan Kalata VIDEO CATEGORY "How Russia Stole Ukraine\'s Grain" \x96 The Wall Street Journal Emma Scott , Costas Paris, Jane Lytvynenko , Alistair MacDonald , Lisa Schwartz , Till Daldrup , Avani Yadav , Robert Libetti , Christopher S. Stewart and Ben Weltman VISUAL STORYTELLING CATEGORY "Life in Hong Kong\'s Shoebox Housing" \x96 South China Morning Post Marcelo Duhalde , Kaliz Lee, Han Huang , Adolfo Arranz , Fiona Sun and Dennis Wong The board of trustees of the G. and R. Loeb Foundation and UCLA Anderson wish to thank all those who contributed to the success of the 2023 Loeb Awards: Gold Sponsor: Reuters Silver Sponsors: Bloomberg, The Wall Street Journal Bronze Sponsors: CBS News, Financial Times, Los Angeles Times , The New York Times , Norman Pearlstine , The Washington Post Associate Sponsors: Associated Press, Award Force, The Information Interactive Graphics Partner: Tagboard Show Production Partner: Impact Arts Events Group The G. and R. Loeb Foundation Inc. is a 501(c)(3) nonprofit organization that operates primarily on competition entry fees, banquet ticket sales, sponsorships and private support. For more information about the awards, please visit anderson.ucla.edu/gerald-loeb-awards . About Gerald Loeb Gerald Martin Loeb was born in 1899 in San Francisco, California . He began his career in 1921, in the bond department of a securities firm. He moved to New York City in 1924 to help establish E.F. Hutton and eventually ascended to vice chairman of the board. During Gerald Loeb\'s career, he was a favorite of business and financial journalists for his willingness to be interviewed and was described as "probably the most quoted man on Wall Street" ( Forbes 1955). He was also an author of two investment strategy books, a guest columnist for Forbes and widely considered a Wall Street icon. In 1957, he established the G. and R. Loeb Foundation (under the stewardship of the University of Connecticut ) to present the Gerald Loeb Awards for Distinguished Business and Financial Journalism. In 1973, he transferred the stewardship of the awards to UCLA Anderson School of Management under the deanship of Harold Williams . About UCLA Anderson School of Management UCLA Anderson School of Management is among the leading business schools in the world, with faculty members globally renowned for their teaching excellence and research in advancing management thinking. Located in Los Angeles , gateway to the growing economies of Latin America and Asia and a city that personifies innovation in a diverse range of endeavors, UCLA Anderson\'s MBA, Fully Employed MBA, Executive MBA, UCLA-NUS Executive MBA, Master of Financial Engineering, Master of Science in Business Analytics, doctoral and executive education programs embody the school\'s Think in the Next ethos. Annually, some 1,800 students are trained to be global leaders seeking the business models and community solutions of tomorrow. Media Contact: Jonathan\xa0Daillak (310) 825-4478 [email protected] Minard Editor Award recipient Nancy Rivera Brooks of the Los Angeles Times, at the 2023 Loeb Awards on September 28, 2023, in New York City. The Gerald Loeb Awards are the most prestigious honor in business journalism in the United States. They were established in 1957 by the late Gerald Loeb, a founding partner of E.F. Hutton. Loeb had a deep appreciation for the significant role that journalists fulfill in society and created the awards to encourage and support reporting on business and finance that will inform and protect both the private investor and the public. The Loeb Foundation is a 501(c)(3) nonprofit organization. (PRNewsfoto/UCLA Anderson School of Mgmt) (PRNewsfoto/UCLA Anderson School of Managem) Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/winners-of-the-2023-gerald-loeb-awards-announced-by-ucla-anderson-at-new-york-city-event-301942571.html SOURCE UCLA Anderson School of Management', 'Bitcoin (BTC) prices held steady above the $27,000 level Friday even as broader financial markets showed mixed movements. Global oil prices retreated after a surge , while stocks in Asia and Europe inched higher as of Asian afternoon hours. Crypto markets were buoyed mainly as participants expected increased demand in the short term as a formal ether (ETH) futures exchange-traded fund (ETF) was floated by financial giant VanEck. However, some analysts warned of selling pressure on riskier assets such as bitcoin, citing all-time highs in certain oil markets . Some analysts priced in a 90% chance of the ETF getting approved in the first week of October, impacting bearish positions. Strength in crypto markets seemed to bump majors, such as Solana’s SOL and Cardano’s ADA tokens – each adding as much as 4.5%. Traders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing ETF optimism. “Despite the fact that the SEC postponed their decision to approve or disapprove Ark, BlackRock, and Valkyrie’s bitcoin ETFs this week, the market’s hope for spot bitcoin ETF approval seems to have been revitalized following the Ether Futures ETF decision,” analyst Yuya Hasegawa shared. Meanwhile, Tellor’s TRB tokens continued a multi-week rally to rise some 10% in the past 24 hours, extending monthly gains to over 250%, data from CoinGecko shows. High funding rates on TRB futures could explain some of the demand for these tokens, analysts at Coinalyze said in a message, amid the lack of fundamental catalysts. Funding rates are periodic payments that traders on perpetual futures markets pay from one side of the trade to the other. Depending on their open positions, traders will either pay or receive funding. The payments ensure there are always participants on both sides of the trade. Participants utilize sophisticated strategies to collect funding rates while hedging losses due to token movements – which may, eventually, create market imbalance and volatility. View comments', 'Bitcoin (BTC) prices held steady above the $27,000 level Friday even as broader financial markets showed mixed movements. Global oil prices retreatedafter a surge, while stocks in Asia and Europe inched higher as of Asian afternoon hours.\nCrypto markets were buoyed mainly as participants expected increased demand in the short term as a formal ether (ETH) futures exchange-traded fund (ETF) was floated by financial giant VanEck. However, some analysts warned of selling pressure on riskier assets such as bitcoin, citing all-time highs incertain oil markets.\nSome analysts priced in a 90% chance of the ETF getting approved in the first week of October, impacting bearish positions. Strength in crypto markets seemed to bump majors, such as Solana’s SOL and Cardano’s ADA tokens – each adding as much as 4.5%.\nTraders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing ETF optimism.\n“Despite the fact that the SEC postponed their decision to approve or disapprove Ark, BlackRock, and Valkyrie’s bitcoin ETFs this week, the market’s hope for spot bitcoin ETF approval seems to have been revitalized following the Ether Futures ETF decision,” analyst Yuya Hasegawa shared.\nMeanwhile, Tellor’s TRB tokens continued a multi-week rally to rise some 10% in the past 24 hours, extending monthly gains to over 250%,data from CoinGeckoshows.High funding rateson TRB futures could explain some of the demand for these tokens, analysts at Coinalyze said in a message, amid the lack of fundamental catalysts.\nFunding rates are periodic payments that traders on perpetual futures markets pay from one side of the trade to the other. Depending on their open positions, traders will either pay or receive funding. The payments ensure there are always participants on both sides of the trade.\nParticipants utilize sophisticated strategies to collect funding rates while hedging losses due to token movements – which may, eventually, create market imbalance and volatility.', 'Bitcoin (BTC) prices held steady above the $27,000 level Friday even as broader financial markets showed mixed movements. Global oil prices retreatedafter a surge, while stocks in Asia and Europe inched higher as of Asian afternoon hours.\nCrypto markets were buoyed mainly as participants expected increased demand in the short term as a formal ether (ETH) futures exchange-traded fund (ETF) was floated by financial giant VanEck. However, some analysts warned of selling pressure on riskier assets such as bitcoin, citing all-time highs incertain oil markets.\nSome analysts priced in a 90% chance of the ETF getting approved in the first week of October, impacting bearish positions. Strength in crypto markets seemed to bump majors, such as Solana’s SOL and Cardano’s ADA tokens – each adding as much as 4.5%.\nTraders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing ETF optimism.\n“Despite the fact that the SEC postponed their decision to approve or disapprove Ark, BlackRock, and Valkyrie’s bitcoin ETFs this week, the market’s hope for spot bitcoin ETF approval seems to have been revitalized following the Ether Futures ETF decision,” analyst Yuya Hasegawa shared.\nMeanwhile, Tellor’s TRB tokens continued a multi-week rally to rise some 10% in the past 24 hours, extending monthly gains to over 250%,data from CoinGeckoshows.High funding rateson TRB futures could explain some of the demand for these tokens, analysts at Coinalyze said in a message, amid the lack of fundamental catalysts.\nFunding rates are periodic payments that traders on perpetual futures markets pay from one side of the trade to the other. Depending on their open positions, traders will either pay or receive funding. The payments ensure there are always participants on both sides of the trade.\nParticipants utilize sophisticated strategies to collect funding rates while hedging losses due to token movements – which may, eventually, create market imbalance and volatility.', 'Ault & Company Has Advanced $17.5 Million to Date Towards Its Agreement to Fund Up to $40 Million Into Ault Alliance LAS VEGAS, September 29, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance " or the " Company ") today provided an update that Ault & Company, Inc., a related party (" Ault & Company ") has advanced and assumed $17.5 million to date towards the previously announced agreement to fund up to $40 million into the Company. The advancement and assumption to date from Ault & Company of $17.5 million represents approximately $11.6 million of secured promissory notes previously issued by the Company, which have been assumed by Ault & Company, for which the Company has issued term notes to Ault & Company in the same amount, which Ault & Company has agreed to cancel, $4.6 million of loans made by Ault & Company to the Company pursuant to a credit agreement entered into between the parties in June 2023, which Ault & Company has agreed to cancel, and $1.3 million related to 125,000 outstanding shares of the Company’s Series B convertible preferred stock at stated value that Ault & Company has committed to surrendering to the Company for retirement. Pursuant to the agreement entered into between Ault Alliance and Ault & Company, the Company would issue preferred stock and warrants to Ault & Company for these advances and assumptions, which has not occurred to date, as the Company has not received regulatory approval, and which will expire by its terms on September 30, 2023. The Company is committed to completing the agreement in principle and continues to work with the regulatory authorities to find an acceptable solution. Once regulatory approval is obtained as it relates to this initial tranche, Ault & Company anticipates that up to the remaining $22.5 million of commitments will be funded in cash, for a total investment of $40 million. Milton "Todd" Ault, III, Executive Chairman of Ault Alliance and Chief Executive Officer of Ault & Company, stated, "With a $17.5 million advancement over the last few months, we are staking our belief in the intrinsic value of the Company’s assets - from the crane business to the data center, including Bitcoin mining, and key investments under the Ault Venture Group umbrella. With Ault & Company’s intent to invest up to $40 million in total, we are demonstrating Ault & Company’s and its principals’, some of whom are also principals of the Company, dedication, and the vision for the future of the Company. We firmly believe in the Company’s trajectory and the growth potential its diversified holdings." Story continues This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.ault.com or available at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including a metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through its licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com . Forward-Looking Statements This press release contains "forward-looking statements" within the
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-29
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $526,470,468,750
- Hash Rate: 417398297.9531831
- Transaction Count: 330269.0
- Unique Addresses: 713902.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.48
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin-loving payments firm Block Inc. today reported gross profit of $1.87 billion in its second quarter 2023 results—a 27% year-over-year increase. And $2.4 billion of its total $5.5 billion Q2 net revenue came from Bitcoin, the company said. The company— formerly known as Square —saw a 34% increase in Bitcoin revenue compared to the same period in 2022. Bitcoin revenue refers to the total sale amount of cryptocurrency sold to customers. "We delivered strong growth and profitability at scale during the second quarter of 2023," the company said in a letter to shareholders. Block's Cash App business Bitcoin revenue stood at $1.16 billion, a 39% increase compared to the same period in 2022. If not for a dip in prices, the company said, the revenue could have contributed even more to its bottom line. "The year-over-year increase in Bitcoin revenue and gross profit was driven by an increase in the quantity of Bitcoin sold to customers, partially offset by a decrease in the average market price of Bitcoin compared to the prior-year period," the company said in a letter to shareholders. The company also recorded no impairment losses on its Bitcoin holdings, which now total $245 million, in the three- and six-month periods ending June 30, 2023. Block’s Cash App Bitcoin Revenue Drops 25% Year-Over-Year An impairment charge refers to a loss of value in assets—in this case, the digital assets held by the company. Block is a payments company founded by Twitter co-founder Jack Dorsey. Its popular mobile app, Cash App, is a popular tool for buying and selling Bitcoin. The app last year installed the Bitcoin "second-layer solution" the Lightning Network —allowing users to make small and quick payments with crypto. What is Bitcoin? The move shows just how committed the company is to pushing Bitcoin adoption. In June, Dorsey-backed Bitkey launched the beta for its Bitcoin wallet, which will allow users withdraw BTC from their Coinbase and Cash App wallets using " copy and paste ."...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['While Bitcoin (BTC) remains on track to end its six-year streak of September losses, a modest pullback ahead of what could be an imminent federal government shutdown could put this month’s advance in jeopardy.\nThe largest crypto by market capitalization changed hands at $26,800 during Friday afternoon hours, posting a 3.2% return this month so far. However, BTC has declined 1.6% from the $27,400 it touched for a short time on Thursday.\nExtending this weak price action into the weekend could put BTC’s provisional positive monthly return in jeopardy as the crypto began September at just about $26,000.\nEther (ETH) traded mostly flat at around $1,660, as market participants anticipate futures-based exchange-traded funds (ETF) to go live early next week.\nRipple’sXRP, Solana’sSOLand the Tron network’s native tokenTRONposted 3%-5% gains, outperforming the broader digital asset market. The CoinDesk Market Index (CMI) was down 0.5%.\n“The oppressive macro uncertainty is still a major headwind,” Noelle Acheson, macro analyst and author of Crypto Is Macro Now newsletter, noted Friday. “Bond markets around the world are flashing signs of distress, as yields have reached multi-year records in the US, UK, Germany and Japan to name just a few markets.”\nShe added that the looming U.S. government shutdown adds to the uncertainty and noted that the U.S. consumer spending growth in Q2 was revised lower, an indication that consumers might not be that resilient to tightening financial conditions.\n“As scary as this may sound, during the 21 government shutdowns [in the past] the S&P 500 rose 55% of the time, generating an average return of 0.3%,” advisory firm Asgard Markets wrote in a Friday market report.\nDigital asset investment firm NYDIG said that the government shutdown could delay regulatory decisions, as the U.S. Securities and Exchange Commission (SEC) staff will be radically reduced.\n“A spot bitcoin ETF will have to wait until after SEC employees come back from a potential furlough,” Greg Cipolaro, NYDIG’s head of research, wrote in the report.\nStill, crypto markets held up well recently compared to the sell-off in stocks. Despite the difficult macro picture, Asgard has a more constructive outlook for risk assets in Q4.\n“BTC and ETH are now trying to break upwards outside of their range established in the last month and a half,” Asgard said. “We are looking for a short-term move somewhere between $28,500 and a swipe of $30,000, for as long as BTC does not retrace below 26,000.”\nHistorically, October has usually been a bullish month for bitcoin, Markus Thielen, Matrixport’s Head of Research said in a recent appearance on CoinDesk TV.\nHe pointed out that "over the last 10 years, eight of those times in October, the market was actually up with an average of 22%," adding that as soon as interest rates become dovish bitcoin is “going to break out quite aggressively.”\nThielen also argued that bitcoin miners, particularly Marathon Digital, are entering this next quarter with far more efficient operations.\nAt the same time, the halving is still on everyone’s minds: Marathon Digital, according to Thielen, estimated their mining costs would increase from $24,000 to $29,000 per bitcoin.\n“Nevertheless, we need to really rally above 30,000,” he concluded.', 'While Bitcoin (BTC) remains on track to end its six-year streak of September losses, a modest pullback ahead of what could be an imminent federal government shutdown could put this month’s advance in jeopardy.\nThe largest crypto by market capitalization changed hands at $26,800 during Friday afternoon hours, posting a 3.2% return this month so far. However, BTC has declined 1.6% from the $27,400 it touched for a short time on Thursday.\nExtending this weak price action into the weekend could put BTC’s provisional positive monthly return in jeopardy as the crypto began September at just about $26,000.\nEther (ETH) traded mostly flat at around $1,660, as market participants anticipate futures-based exchange-traded funds (ETF) to go live early next week.\nRipple’sXRP, Solana’sSOLand the Tron network’s native tokenTRONposted 3%-5% gains, outperforming the broader digital asset market. The CoinDesk Market Index (CMI) was down 0.5%.\n“The oppressive macro uncertainty is still a major headwind,” Noelle Acheson, macro analyst and author of Crypto Is Macro Now newsletter, noted Friday. “Bond markets around the world are flashing signs of distress, as yields have reached multi-year records in the US, UK, Germany and Japan to name just a few markets.”\nShe added that the looming U.S. government shutdown adds to the uncertainty and noted that the U.S. consumer spending growth in Q2 was revised lower, an indication that consumers might not be that resilient to tightening financial conditions.\n“As scary as this may sound, during the 21 government shutdowns [in the past] the S&P 500 rose 55% of the time, generating an average return of 0.3%,” advisory firm Asgard Markets wrote in a Friday market report.\nDigital asset investment firm NYDIG said that the government shutdown could delay regulatory decisions, as the U.S. Securities and Exchange Commission (SEC) staff will be radically reduced.\n“A spot bitcoin ETF will have to wait until after SEC employees come back from a potential furlough,” Greg Cipolaro, NYDIG’s head of research, wrote in the report.\nStill, crypto markets held up well recently compared to the sell-off in stocks. Despite the difficult macro picture, Asgard has a more constructive outlook for risk assets in Q4.\n“BTC and ETH are now trying to break upwards outside of their range established in the last month and a half,” Asgard said. “We are looking for a short-term move somewhere between $28,500 and a swipe of $30,000, for as long as BTC does not retrace below 26,000.”\nHistorically, October has usually been a bullish month for bitcoin, Markus Thielen, Matrixport’s Head of Research said in a recent appearance on CoinDesk TV.\nHe pointed out that "over the last 10 years, eight of those times in October, the market was actually up with an average of 22%," adding that as soon as interest rates become dovish bitcoin is “going to break out quite aggressively.”\nThielen also argued that bitcoin miners, particularly Marathon Digital, are entering this next quarter with far more efficient operations.\nAt the same time, the halving is still on everyone’s minds: Marathon Digital, according to Thielen, estimated their mining costs would increase from $24,000 to $29,000 per bitcoin.\n“Nevertheless, we need to really rally above 30,000,” he concluded.', "UPDATE: A Spanish court has ruled that tech titan John McAfee died by suicide, an inquest prompted by his family\x92s questions on his jailhouse death. McAfee died in 2021 in a Spanish jail, and his death has already been ruled a suicide by authorities. But ex-ife Janice asked for a further probe. McAfee himself had previously stated that he was not suicidal and that he would be \x93whacked\x94 if he died. More from Deadline Netflix Greenlights Documentary On Software Pioneer John McAfee, Who Went On The Run After His Neighbor Was Murdered In Belize John McAfee Dies: Eccentric Entrepreneur, Security Software Inventor And Cryptocurrency Pioneer Was 75 Bitcoin Arrives On Wall Street, Bringing Good News For Blockchain Entertainment The ruling today stated, \x93There is not a single element of suspicion, of a charge against a third party, of criminal behavior,\x94 according to Reuters. EARLIER: The family of software pioneer John McAfee has stepped up their demand for answers a year after his mysterious death in a Spanish jail cell . McAfee\x92s corpse still remains unclaimed in a Spanish morgue. He was awaiting extradition to the US on tax evasion charges when he was found dead in a Barcelona cell. He was 75 years old. The software developer of the first commercial anti-virus software, McAfee had a strange last few years, globetrotting and immersed in the cryptocurrency and conspiracy worlds. \x93It\x92s difficult to put into words what life has been like this past year,\x94 McAfee\x92s widow, Janice, tweeted Thursday . McAfee was arrested in Spain and was jailed for eight months prior to his death, which authorities claimed was a suicide. His family disagreed and is pressing for a more detailed investigation. His body is being held while legal deliberations continue. A former third-party candidate for US president in 2016 and 2020, McAfee at one time had a fortune estimated at $100 million. While much of that was lost in the market crash of 2008, he still lived a lavish lifestyle from his base on the Belize island of Ambergris Caye. Story continues There, Belize police declared him a person of interest in the killing of American Gregory Faull, 52, who had complained about McAfee\x92s dogs before being discovered in his home with fatal gunshot wounds. McAfee was never charged in that case, but Belize authorities said they were actively looking for him. He lost a wrongful death suit in Florida brought by Faull\x92s family. They won an award of $25 million, but never collected. Best of Deadline SAG-AFTRA Interim Agreements: Full List Of Movies And TV Series 2023 Premiere Dates For New & Returning Series On Broadcast, Cable & Streaming Film Festival Calendar Listings For 2023 Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . Click here to read the full article.", "UPDATE: A Spanish court has ruled that tech titan John McAfee died by suicide, an inquest prompted by his family\x92s questions on his jailhouse death. McAfee died in 2021 in a Spanish jail, and his death has already been ruled a suicide by authorities. But ex-ife Janice asked for a further probe. McAfee himself had previously stated that he was not suicidal and that he would be \x93whacked\x94 if he died. More from Deadline Netflix Greenlights Documentary On Software Pioneer John McAfee, Who Went On The Run After His Neighbor Was Murdered In Belize John McAfee Dies: Eccentric Entrepreneur, Security Software Inventor And Cryptocurrency Pioneer Was 75 Bitcoin Arrives On Wall Street, Bringing Good News For Blockchain Entertainment The ruling today stated, \x93There is not a single element of suspicion, of a charge against a third party, of criminal behavior,\x94 according to Reuters. EARLIER: The family of software pioneer John McAfee has stepped up their demand for answers a year after his mysterious death in a Spanish jail cell . McAfee\x92s corpse still remains unclaimed in a Spanish morgue. He was awaiting extradition to the US on tax evasion charges when he was found dead in a Barcelona cell. He was 75 years old. The software developer of the first commercial anti-virus software, McAfee had a strange last few years, globetrotting and immersed in the cryptocurrency and conspiracy worlds. \x93It\x92s difficult to put into words what life has been like this past year,\x94 McAfee\x92s widow, Janice, tweeted Thursday . McAfee was arrested in Spain and was jailed for eight months prior to his death, which authorities claimed was a suicide. His family disagreed and is pressing for a more detailed investigation. His body is being held while legal deliberations continue. A former third-party candidate for US president in 2016 and 2020, McAfee at one time had a fortune estimated at $100 million. While much of that was lost in the market crash of 2008, he still lived a lavish lifestyle from his base on the Belize island of Ambergris Caye. Story continues There, Belize police declared him a person of interest in the killing of American Gregory Faull, 52, who had complained about McAfee\x92s dogs before being discovered in his home with fatal gunshot wounds. McAfee was never charged in that case, but Belize authorities said they were actively looking for him. He lost a wrongful death suit in Florida brought by Faull\x92s family. They won an award of $25 million, but never collected. Best of Deadline SAG-AFTRA Interim Agreements: Full List Of Movies And TV Series 2023 Premiere Dates For New & Returning Series On Broadcast, Cable & Streaming Film Festival Calendar Listings For 2023 Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . Click here to read the full article.", 'Asset manager Valkyrie started buying Ether (ETH) futures contracts, after getting approval to convert its existing bitcoin futures exchange traded fund (ETF) to a two-for-one investment vehicle.\n"Today, the Valkyrie Bitcoin Strategy ETF (Nasdaq: $BTF) began adding exposure to Ether futures contracts, making it the first US ETF to provide exposure to Ether and Bitcoin futures contracts under one wrapper," a spokesperson told CoinDesk in an email statement.\nValkyrie was first to get approval for ETH futures ETF among other firms, as it "supplemented its prospectus and updated risk disclosures related to Ether futures," said the spokesperson.\nThe fund\'s new strategy to combine both ETH and BTC futures contract into one ETF will be formally effective on Oct. 3 and the name will be updated to Valkyrie Bitcoin and Ether Strategy ETF, while the ticker will remain BTF.\nThe fund will join other entities that filed to start ETH futures ETF, includingVolatility Shares Ether Strategy ETF,Bitwise Ethereum Strategy ETF,VanEck Ethereum Strategy ETF,Roundhill Ether Strategy ETF,ProShares Short Ether Strategy ETF,ProShares Ether Strategy ETFandGrayscale Ethereum Futures ETF.\nEarlier today, VanEck, the $77.8 billion asset under management firm, said that itspreparing to roll outits Ethereum futures exchange-traded fund (ETF).', 'Asset manager Valkyrie started buying Ether (ETH) futures contracts, after getting approval to convert its existing bitcoin futures exchange traded fund (ETF) to a two-for-one investment vehicle.\n"Today, the Valkyrie Bitcoin Strategy ETF (Nasdaq: $BTF) began adding exposure to Ether futures contracts, making it the first US ETF to provide exposure to Ether and Bitcoin futures contracts under one wrapper," a spokesperson told CoinDesk in an email statement.\nValkyrie was first to get approval for ETH futures ETF among other firms, as it "supplemented its prospectus and updated risk disclosures related to Ether futures," said the spokesperson.\nThe fund\'s new strategy to combine both ETH and BTC futures contract into one ETF will be formally effective on Oct. 3 and the name will be updated to Valkyrie Bitcoin and Ether Strategy ETF, while the ticker will remain BTF.\nThe fund will join other entities that filed to start ETH futures ETF, includingVolatility Shares Ether Strategy ETF,Bitwise Ethereum Strategy ETF,VanEck Ethereum Strategy ETF,Roundhill Ether Strategy ETF,ProShares Short Ether Strategy ETF,ProShares Ether Strategy ETFandGrayscale Ethereum Futures ETF.\nEarlier today, VanEck, the $77.8 billion asset under management firm, said that itspreparing to roll outits Ethereum futures exchange-traded fund (ETF).', 'September marks the second straight losing month for stocks. Reuters / Marcos Brindicci US stocks traded mixed on Friday as a government shutdown looked increasingly likely. The session also closed out a dismal September, with the S&P 500 losing 5% to mark its worst month of 2023. For the third quarter, the benchmark index lost about 4%. US stocks traded mixed on Friday as investors initially cheered better-than-expected inflation news but grew jittery as a government shutdown appeared more likely. The core personal consumption expenditure price index, which is the Fed\'s preferred measure of inflation, rose 0.1% in the month of August, less than the expected 0.2% monthly increase. September marked the second straight losing month for stocks. The S&P 500 slid around 5% to mark its worst month of 2023, while the Dow lost about 4%, and the Nasdaq sank 6%. For the third quarter, the S&P 500 and Nasdaq were down about 4%, and the Dow 3%. "It may be an understatement to say it has been a rough month for stocks," LPL Financial chief technical strategist Adam Turnquist said in a statement on Friday. "However, in terms of performance, nothing really qualifies out of the ordinary. Since 1950, the S&P 500 has historically declined in September 55% of the time, posting an average loss of around 3.8%. The VIX historically peaks on the year around week 40, suggesting next week could be a top for implied volatility." Here\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Friday: S&P 500 : 4,288.05, down 0.27% Dow Jones Industrial Average : 33,507.50, down 0.47% (158.84 points) Nasdaq Composite : 13,219.32, up 0.14% Here\'s what else happened today: US Treasury yields could hit 5% in "literally weeks," according to Bill Ackman. Authorities are investigating LVMH billionaire Bernard Arnault in a potential money laundering probe. Russia and Saudi Arabia have likely made close to $3 billion this quarter due to rising oil prices. The Fed is throwing "kerosene on the fire" with its aggressive rate hikes , billionaire investor Barry Sternlicht said. Steep wage hikes for union workers mark the "final echo"of the inflation surge , according to Goldman Sachs. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil slid 1.05% to $90.75 a barrel. Brent crude , the international benchmark, dropped 3.51% to $92.05 a barrel. Gold fell 0.89% to $1,848.29 per ounce. The yield on the 10-year Treasury bond slipped three basis points to 4.567%. Bitcoin dipped 0.24% to $26,916. Read the original article on Business Insider', '• US stocks traded mixed on Friday as a government shutdown looked increasingly likely.\n• The session also closed out a dismal September, with the S&P 500 losing 5% to mark its worst month of 2023.\n• For the third quarter, the benchmark index lost about 4%.\nUS stocks traded mixed on Friday as investors initially cheered better-than-expected inflation news but grew jittery as a government shutdown appeared more likely.\nThe core personal consumption expenditure price index, which is the Fed\'s preferred measure of inflation, rose 0.1% in the month of August, less than the expected 0.2% monthly increase.\nSeptember marked the second straight losing month for stocks. The S&P 500 slid around 5% to mark its worst month of 2023, while the Dow lost about 4%, and the Nasdaq sank 6%. For the third quarter, the S&P 500 and Nasdaq were down about 4%, and the Dow 3%.\n"It may be an understatement to say it has been a rough month for stocks," LPL Financial chief technical strategist Adam Turnquist said in a statement on Friday. "However, in terms of performance, nothing really qualifies out of the ordinary. Since 1950, the S&P 500 has historically declined in September 55% of the time, posting an average loss of around 3.8%. The VIX historically peaks on the year around week 40, suggesting next week could be a top for implied volatility."\nHere\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Friday:\n• S&P 500:4,288.05, down 0.27%\n• Dow Jones Industrial Average:33,507.50, down 0.47% (158.84 points)\n• Nasdaq Composite:13,219.32, up 0.14%\nHere\'s what else happened today:\n• US Treasury yields could hit 5% in "literally weeks,"according to Bill Ackman.\n• Authorities are investigating LVMH billionaire Bernard Arnaultin a potential money laundering probe.\n• Russia and Saudi Arabia have likely made close to $3 billion this quarterdue to rising oil prices.\n• The Fed is throwing "kerosene on the fire" with its aggressive rate hikes, billionaire investor Barry Sternlicht said.\n• Steep wage hikes for union workers mark the "final echo"of the inflation surge, according to Goldman Sachs.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil slid 1.05% to $90.75 a barrel.Brent crude, the international benchmark, dropped 3.51% to $92.05 a barrel.\n• Goldfell 0.89% to $1,848.29 per ounce.\n• The yield on the 10-year Treasury bond slipped three basis points to 4.567%.\n• Bitcoindipped 0.24% to $26,916.\nRead the original article onBusiness Insider', 'The Ordinals protocol took the Bitcoin network by storm this year, presenting a novel system of indexing digital assets on the blockchain. However, a seemingly simple task of managing the index for these Ordinals has sparked intense controversy, the outcome of which stands to reshape the landscape of this growing ecosystem. Ordinals first gained rapid adoption across the Bitcoin network based on the protocol\x92s introduction of indexed assets attached to one or more Satoshis, the lowest denomination of BTC. However, indexing Ordinals is not exactly a straightforward process, and some of those complications result in instances where certain inscriptions, for various reasons, are not properly indexed. Those Ordinals that were inscribed correctly but indexed improperly are dubbed \x93cursed ordinals,\x94 and the coder behind the Protocol, Casey Rodarmor, says the logic surrounding their upkeep \x93is a source of bugs and complexity.\x94 Now, a debate is raging over whether to make Ordinal numbers \x93unstable,\x94 which could have a substantial impact on the value of early inscriptions. Cursed Ordinals Certain circumstances in the Ordinal protocol, such as minting multiple inscriptions in a transaction, altering reveal inputs or changing the number of fields, or even committing multiple inscriptions to the same satoshi cause discrepancies. When such discrepancies occur during the indexing of an inscription that earlier protocol versions cannot recognize, those inscriptions are ascribed a negative number \x96 a so-called cursed Ordinal. However, the introduction of cursed Ordinals has led to a series of issues, according to Rodarmor, such as the inability to discern the creation order from the inscription number, an increased potential for bugs, and added system complexity. There are additional challenges surrounding the necessity for the community to coordinate and "bless" particular cursed inscriptions, which refers to assigning them positive numbers after a specific block height. Story continues Mixed Blessings Rodarmor\x92s plan is to simplify the Ordinal codebase by \x93blessing\x94 cursed Ordinals to fold them back into the protocol\x92s main sequence, effectively renumbering the assets. \x93I propose that we make inscription numbers permanently unstable, and bless all cursed inscriptions, both retroactively and on an ongoing basis,\x94 said Rodarmor in a blog post. The alteration would renumber the existing Ordinals and make all numbering for the protocol unstable. While marking a departure from the initial intention behind inscription numbers, Rodarmor\x92s fix aims to ensure the longevity and adaptability of the protocol\x92s codebase. However, not everyone supports the proposed change. The existing numbering system underpins several Ordinals projects, and many collectors have made acquisitions based on the perceived value of low-indexed assets. The Opposition A central part of the controversy lies in the proposed shift from stable to unstable inscription numbers. Opponents argue that this would not only disrupt the established order but also diminish the intrinsic value of their collections. One example is the "Hell Raiders" collection, strategically placed in the 666k range. The re-indexing would push these out of their iconic position, potentially eroding their cultural and collectible essence, according to project lead Knox. \x93The heart of the contention lies in a culture versus protocol disagreement. The shifting of all positive inscription numbers may negatively impact many as it would compromise the collectibility of Ordinals many have invested time and resources in,\x94 said Knox. Middle Ground On Github, a number of Ordinals ecosystem players are mulling over Rodarmor\x92s proposal, some of whom approve of the fix, while others are calling it \x93rugging.\x94 Ordinals Community Grapples With Numbering Controversy One potential compromise , originating from developer and founder of Taiwan-based centralized exchange, Maicoin, Danny Yang, takes into account the potential cascading effects of an Ordinal renumbering. Impacted Ordinals from the era of cursed inscriptions might be preserved via a snapshot taken before the block height where numbers become permanently unstable across the protocol, said Yang. Among the methodologies recommended by Yang is to identify an ultra-efficient mechanism to craft a generative inscription capable of returning the original inscription number. This would ensure a comprehensive snapshot while minimizing the block space consumed. Perhaps a more hands-on approach, Yang also suggested users might have the option to reinscribe their unique inscription number in a prescribed format. Since only a subset of users might be genuinely concerned about the renumbering, this method might not lead to an overwhelming number of reinscriptions. Furthermore, this approach ensures that the reinscribed number remains tied to its original inscription, eliminating the need for a full snapshot for indifferent users. Yang also advocated a combined approach of both methods. Read the original post on The Defiant', 'The Ordinals protocol took the Bitcoin network by storm this year, presenting a novel system of indexing digital assets on the blockchain. However, a seemingly simple task of managing the index for these Ordinals has sparked intense controversy, the outcome of which stands to reshape the landscape of this growing ecosystem.\nOrdinals first gained rapid adoption across the Bitcoin network based on the protocol’s introduction of indexed assets attached to one or more Satoshis, the lowest denomination of BTC.\nHowever, indexing Ordinals is not exactly a straightforward process, and some of those complications result in instances where certain inscriptions, for various reasons, are not properly indexed. Those Ordinals that were inscribed correctly but indexed improperly are dubbed “cursed ordinals,” and the coder behind the Protocol, Casey Rodarmor, says the logic surrounding their upkeep “is a source of bugs and complexity.”\nNow, a debate is raging over whether to make Ordinal numbers “unstable,” which could have a substantial impact on the value of early inscriptions.\nCertain circumstances in the Ordinal protocol, such as minting multiple inscriptions in a transaction, altering reveal inputs or changing the number of fields, or even committing multiple inscriptions to the same satoshi cause discrepancies.\nWhen such discrepancies occur during the indexing of an inscription that earlier protocol versions cannot recognize, those inscriptions are ascribed a negative number – a so-called cursed Ordinal.\nHowever, the introduction of cursed Ordinals has led to a series of issues, according to Rodarmor, such as the inability to discern the creation order from the inscription number, an increased potential for bugs, and added system complexity.\nThere are additional challenges surrounding the necessity for the community to coordinate and "bless" particular cursed inscriptions, which refers to assigning them positive numbers after a specific block height.\nRodarmor’s plan is to simplify the Ordinal codebase by “blessing” cursed Ordinals to fold them back into the protocol’s main sequence, effectively renumbering the assets.\n“I propose that we make inscription numbers permanently unstable, and bless all cursed inscriptions, both retroactively and on an ongoing basis,” said Rodarmor in a blog post.\nThe alteration would renumber the existing Ordinals and make all numbering for the protocol unstable. While marking a departure from the initial intention behind inscription numbers, Rodarmor’s fix aims to ensure the longevity and adaptability of the protocol’s codebase.\nHowever, not everyone supports the proposed change. The existing numbering system underpins several Ordinals projects, and many collectors have made acquisitions based on the perceived value of low-indexed assets.\nA central part of the controversy lies in the proposed shift from stable to unstable inscription numbers. Opponents argue that this would not only disrupt the established order but also diminish the intrinsic value of their collections.\nOne example is the "Hell Raiders" collection, strategically placed in the 666k range. The re-indexing would push these out of their iconic position, potentially eroding their cultural and collectible essence, according to project lead Knox.\n“The heart of the contention lies in a culture versus protocol disagreement. The shifting of all positive inscription numbers may negatively impact many as it would compromise the collectibility of Ordinals many have invested time and resources in,” said Knox.\nOn Github, a number of Ordinals ecosystem players aremullingover Rodarmor’s proposal, some of whom approve of the fix, while others are calling it “rugging.”\nOne potentialcompromise, originating from developer and founder of Taiwan-based centralized exchange, Maicoin, Danny Yang, takes into account the potential cascading effects of an Ordinal renumbering.\nImpacted Ordinals from the era of cursed inscriptions might be preserved via a snapshot taken before the block height where numbers become permanently unstable across the protocol, said Yang.\nAmong the methodologies recommended by Yang is to identify an ultra-efficient mechanism to craft a generative inscription capable of returning the original inscription number. This would ensure a comprehensive snapshot while minimizing the block space consumed.\nPerhaps a more hands-on approach, Yang also suggested users might have the option to reinscribe their unique inscription number in a prescribed format. Since only a subset of users might be genuinely concerned about the renumbering, this method might not lead to an overwhelming number of reinscriptions.\nFurthermore, this approach ensures that the reinscribed number remains tied to its original inscription, eliminating the need for a full snapshot for indifferent users. Yang also advocated a combined approach of both methods.\nRead the original post on The Defiant', "Exchange-traded funds (ETFs) in the United States have already witnessed tremendous growth, and now there’s an increasing number of solid applications to offer spot Bitcoin ETFs by some of the largest traditional financial institutions.\nBy taking those two factors into account, along with Grayscale's recent court battle win andFranklin Templeton's spot Bitcoin ETF application, it seems that it’s a matter of when spot Bitcoin ETFs will be available to investors rather than if this will happen.\nWhen they’re available, they will help to streamline and facilitate mainstream institutional adoption of digital assets in the United States.\nETFs can be a logical choice for investors: cost-efficient and easily accessible. As a quick overview, total U.S.ETF net assets under management(AUM) have exploded from $102B in 2002 to $6.44T in 2022.\nProjected growth hasn’t stagnated, either.According to BlackRock—which shows a global total of $10T USD in ETFs in 2022—this financial product could reach $14T in value, worldwide, by the end of 2024.\nSpot Bitcoin ETFs are a natural progression in this financial product.\nAlthough debate still exists about whether a spot Bitcoin ETF in the United States would create a pathway to mainstream crypto adoption, many people in the digital asset world are increasingly optimistic—both about the potential for approval and its impact.\nWe believe this approval will help to bring fresh capital into the market through demand for the product. Spot Bitcoin ETFs allow people to directly invest in Bitcoin in simplified ways. Investments are based on current market prices with the owners holding the crypto like they would a stock within the fund, which would make it feel familiar to people who are used to investing but new to crypto.\nThese opportunities already exist in Canada and are launching in Europe; currently, though, eyes are on the U.S. Securities and Exchange Commission (SEC) and the spot Bitcoin ETF application from BlackRock—which was quickly followed up by applications from additional traditional finance mainstays; the following have filed for a Nasdaq spot Bitcoin ETF listing: Fidelity, VanEck, Invesco, WisdomTree, Valkyrie, and Bitwise.\nTo date, the SEC has not approved any spot Bitcoin ETF applications, citing market manipulation of Bitcoin prices as the primary reason for most rejections. BlackRock’s (BLK) iShares Bitcoin Trust application, though, contains an element that may cause the SEC to agree to the fund’s creation: a proposed surveillance-sharing agreement with Nasdaq and a large U.S. digital asset exchange that will serve as a barrier against market manipulation.\nThis surveillance-sharing agreement would provide transparency in market trading and clearing activities as well as customer identification. Plus, if this approach meets the SEC’s approval, it would serve as a guidebook for other companies to follow.\nOnce these spot ETFs are available, providing ease of investing in Bitcoin, it will naturally lead to more institutional flows of funds—especially as the number of distribution sources increases. Because Bitcoin supply is limited to 21MM, this capped availability could provide a positive price action as increasing numbers of institutional investors have more seamless access to the coins.\nBecause the likelihood of SEC approval seems high, several major asset managers have recently applied to offer Ethereum ETFs: Van Eck, Volatility Shares, Bitwise, Grayscale, Roundhill, and Proshares.\nOn a related topic, “Rebuilding confidence in crypto: 5th Annual Global Crypto Hedge Fund Report (2023)” notes how traditional hedge funds have continued to look at increasing their digital asset exposure despite the volatile 2022 environment.\nMore than half of the traditional hedge funds currently investing in crypto-assets intend to maintain the same levels of capital deployed this year while nearly half (46 percent) intend to deploy more capital into this asset class by the end of 2023. Notably, none of the respondents said they planned to reduce their exposure.\nCrypto curiosity has edged up among those funds not yet investing in crypto-assets. More than one-third (37 percent) of survey respondents confirm that they’re simply waiting for further maturity before investing—with more than two-thirds (69 percent) of the curious survey participants being hedge funds managing over a billion dollars.\nOptimism about the future reigns: 93 percent of crypto hedge funds expect crypto-asset market capitalization to be higher at the end of 2023 than it was at the end of 2022.\nAs for the investors in crypto hedge funds, they want the following: mandatory asset segregation; mandatory financial audits; independent statements of reserve assets; and platform security. To further build confidence with these investors, the hedge fund industry is increasing their use of standard liquidity management tools and enhancing their counterparty risk management policies. They’re focusing on optimal custody solutions, and use for third-party custodians is strong with 80 percent of crypto and traditional hedge funds selecting this as their primary custody route.\nTheSEC’s proposed ruleon qualified custodians would further regulations in that direction, appropriately segregating assets and otherwise protecting investors—which meshes with what the hedge fund industry and its investors desire in risk management.\nSpot Bitcoin and Ether ETFs available through trusted traditional financial institutions will break down barriers and streamline mainstream adoption, helping investors navigate a crypto ecosystem that might seem complex and feel intimidating.\nOnce available through familiar traditional financial institutions, the process will feel more comfortable and welcoming. Some investors may limit digital asset exposure to ETFs while others may ultimately expand beyond that into the broader world of crypto investing. Traditional asset managers increasing allocations to digital assets will also help to drive mainstream adoption going forward.\nAdam Sporn isBitGo’s Head of Prime Brokerage and US Institutional Sales.\nRead the original post on The Defiant", "Exchange-traded funds (ETFs) in the United States have already witnessed tremendous growth, and now there’s an increasing number of solid applications to offer spot Bitcoin ETFs by some of the largest traditional financial institutions.\nBy taking those two factors into account, along with Grayscale's recent court battle win andFranklin Templeton's spot Bitcoin ETF application, it seems that it’s a matter of when spot Bitcoin ETFs will be available to investors rather than if this will happen.\nWhen they’re available, they will help to streamline and facilitate mainstream institutional adoption of digital assets in the United States.\nETFs can be a logical choice for investors: cost-efficient and easily accessible. As a quick overview, total U.S.ETF net assets under management(AUM) have exploded from $102B in 2002 to $6.44T in 2022.\nProjected growth hasn’t stagnated, either.According to BlackRock—which shows a global total of $10T USD in ETFs in 2022—this financial product could reach $14T in value, worldwide, by the end of 2024.\nSpot Bitcoin ETFs are a natural progression in this financial product.\nAlthough debate still exists about whether a spot Bitcoin ETF in the United States would create a pathway to mainstream crypto adoption, many people in the digital asset world are increasingly optimistic—both about the potential for approval and its impact.\nWe believe this approval will help to bring fresh capital into the market through demand for the product. Spot Bitcoin ETFs allow people to directly invest in Bitcoin in simplified ways. Investments are based on current market prices with the owners holding the crypto like they would a stock within the fund, which would make it feel familiar to people who are used to investing but new to crypto.\nThese opportunities already exist in Canada and are launching in Europe; currently, though, eyes are on the U.S. Securities and Exchange Commission (SEC) and the spot Bitcoin ETF application from BlackRock—which was quickly followed up by applications from additional traditional finance mainstays; the following have filed for a Nasdaq spot Bitcoin ETF listing: Fidelity, VanEck, Invesco, WisdomTree, Valkyrie, and Bitwise.\nTo date, the SEC has not approved any spot Bitcoin ETF applications, citing market manipulation of Bitcoin prices as the primary reason for most rejections. BlackRock’s (BLK) iShares Bitcoin Trust application, though, contains an element that may cause the SEC to agree to the fund’s creation: a proposed surveillance-sharing agreement with Nasdaq and a large U.S. digital asset exchange that will serve as a barrier against market manipulation.\nThis surveillance-sharing agreement would provide transparency in market trading and clearing activities as well as customer identification. Plus, if this approach meets the SEC’s approval, it would serve as a guidebook for other companies to follow.\nOnce these spot ETFs are available, providing ease of investing in Bitcoin, it will naturally lead to more institutional flows of funds—especially as the number of distribution sources increases. Because Bitcoin supply is limited to 21MM, this capped availability could provide a positive price action as increasing numbers of institutional investors have more seamless access to the coins.\nBecause the likelihood of SEC approval seems high, several major asset managers have recently applied to offer Ethereum ETFs: Van Eck, Volatility Shares, Bitwise, Grayscale, Roundhill, and Proshares.\nOn a related topic, “Rebuilding confidence in crypto: 5th Annual Global Crypto Hedge Fund Report (2023)” notes how traditional hedge funds have continued to look at increasing their digital asset exposure despite the volatile 2022 environment.\nMore than half of the traditional hedge funds currently investing in crypto-assets intend to maintain the same levels of capital deployed this year while nearly half (46 percent) intend to deploy more capital into this asset class by the end of 2023. Notably, none of the respondents said they planned to reduce their exposure.\nCrypto curiosity has edged up among those funds not yet investing in crypto-assets. More than one-third (37 percent) of survey respondents confirm that they’re simply waiting for further maturity before investing—with more than two-thirds (69 percent) of the curious survey participants being hedge funds managing over a billion dollars.\nOptimism about the future reigns: 93 percent of crypto hedge funds expect crypto-asset market capitalization to be higher at the end of 2023 than it was at the end of 2022.\nAs for the investors in crypto hedge funds, they want the following: mandatory asset segregation; mandatory financial audits; independent statements of reserve assets; and platform security. To further build confidence with these investors, the hedge fund industry is increasing their use of standard liquidity management tools and enhancing their counterparty risk management policies. They’re focusing on optimal custody solutions, and use for third-party custodians is strong with 80 percent of crypto and traditional hedge funds selecting this as their primary custody route.\nTheSEC’s proposed ruleon qualified custodians would further regulations in that direction, appropriately segregating assets and otherwise protecting investors—which meshes with what the hedge fund industry and its investors desire in risk management.\nSpot Bitcoin and Ether ETFs available through trusted traditional financial institutions will break down barriers and streamline mainstream adoption, helping investors navigate a crypto ecosystem that might seem complex and feel intimidating.\nOnce available through familiar traditional financial institutions, the process will feel more comfortable and welcoming. Some investors may limit digital asset exposure to ETFs while others may ultimately expand beyond that into the broader world of crypto investing. Traditional asset managers increasing allocations to digital assets will also help to drive mainstream adoption going forward.\nAdam Sporn isBitGo’s Head of Prime Brokerage and US Institutional Sales.\nRead the original post on The Defiant", "Exchange-traded funds (ETFs) in the United States have already witnessed tremendous growth, and now there’s an increasing number of solid applications to offer spot Bitcoin ETFs by some of the largest traditional financial institutions. By taking those two factors into account, along with Grayscale's recent court battle win and Franklin Templeton's spot Bitcoin ETF application , it seems that it’s a matter of when spot Bitcoin ETFs will be available to investors rather than if this will happen. When they’re available, they will help to streamline and facilitate mainstream institutional adoption of digital assets in the United States. ETF Growth in the United States and World ETFs can be a logical choice for investors: cost-efficient and easily accessible. As a quick overview, total U.S. ETF net assets under management (AUM) have exploded from $102B in 2002 to $6.44T in 2022. Projected growth hasn’t stagnated, either. According to BlackRock —which shows a global total of $10T USD in ETFs in 2022—this financial product could reach $14T in value, worldwide, by the end of 2024. Spot Bitcoin ETFs are a natural progression in this financial product. Spot Bitcoin ETFs Although debate still exists about whether a spot Bitcoin ETF in the United States would create a pathway to mainstream crypto adoption, many people in the digital asset world are increasingly optimistic—both about the potential for approval and its impact. We believe this approval will help to bring fresh capital into the market through demand for the product. Spot Bitcoin ETFs allow people to directly invest in Bitcoin in simplified ways. Investments are based on current market prices with the owners holding the crypto like they would a stock within the fund, which would make it feel familiar to people who are used to investing but new to crypto. These opportunities already exist in Canada and are launching in Europe; currently, though, eyes are on the U.S. Securities and Exchange Commission (SEC) and the spot Bitcoin ETF application from BlackRock—which was quickly followed up by applications from additional traditional finance mainstays; the following have filed for a Nasdaq spot Bitcoin ETF listing: Fidelity, VanEck, Invesco, WisdomTree, Valkyrie, and Bitwise. Story continues To date, the SEC has not approved any spot Bitcoin ETF applications, citing market manipulation of Bitcoin prices as the primary reason for most rejections. BlackRock’s (BLK) iShares Bitcoin Trust application, though, contains an element that may cause the SEC to agree to the fund’s creation: a proposed surveillance-sharing agreement with Nasdaq and a large U.S. digital asset exchange that will serve as a barrier against market manipulation. This surveillance-sharing agreement would provide transparency in market trading and clearing activities as well as customer identification. Plus, if this approach meets the SEC’s approval, it would serve as a guidebook for other companies to follow. Once these spot ETFs are available, providing ease of investing in Bitcoin, it will naturally lead to more institutional flows of funds—especially as the number of distribution sources increases. Because Bitcoin supply is limited to 21MM, this capped availability could provide a positive price action as increasing numbers of institutional investors have more seamless access to the coins. Because the likelihood of SEC approval seems high, several major asset managers have recently applied to offer Ethereum ETFs: Van Eck, Volatility Shares, Bitwise, Grayscale, Roundhill, and Proshares. Hedge Funds Increasing Exposure to Digital Assets On a related topic, “ Rebuilding confidence in crypto: 5th Annual Global Crypto Hedge Fund Report (2023) ” notes how traditional hedge funds have continued to look at increasing their digital asset exposure despite the volatile 2022 environment. More than half of the traditional hedge funds currently investing in crypto-assets intend to maintain the same levels of capital deployed this year while nearly half (46 percent) intend to deploy more capital into this asset class by the end of 2023. Notably, none of the respondents said they planned to reduce their exposure. Crypto curiosity has edged up among those funds not yet investing in crypto-assets. More than one-third (37 percent) of survey respondents confirm that they’re simply waiting for further maturity before investing—with more than two-thirds (69 percent) of the curious survey participants being hedge funds managing over a billion dollars. Optimism about the future reigns: 93 percent of crypto hedge funds expect crypto-asset market capitalization to be higher at the end of 2023 than it was at the end of 2022. As for the investors in crypto hedge funds, they want the following: mandatory asset segregation; mandatory financial audits; independent statements of reserve assets; and platform security. To further build confidence with these investors, the hedge fund industry is increasing their use of standard liquidity management tools and enhancing their counterparty risk management policies. They’re focusing on optimal custody solutions, and use for third-party custodians is strong with 80 percent of crypto and traditional hedge funds selecting this as their primary custody route. The SEC’s proposed rule on qualified custodians would further regulations in that direction, appropriately segregating assets and otherwise protecting investors—which meshes with what the hedge fund industry and its investors desire in risk management. ETFs Offer the Best Avenue to Traditional Financial Adoption Today Spot Bitcoin and Ether ETFs available through trusted traditional financial institutions will break down barriers and streamline mainstream adoption, helping investors navigate a crypto ecosystem that might seem complex and feel intimidating. Once available through familiar traditional financial institutions, the process will feel more comfortable and welcoming. Some investors may limit digital asset exposure to ETFs while others may ultimately expand beyond that into the broader world of crypto investing. Traditional asset managers increasing allocations to digital assets will also help to drive mainstream adoption going forward. Adam Sporn is BitGo ’s Head of Prime Brokerage and US Institutional Sales. Read the original post on The Defiant", 'When close to half the companies in Germany have price-to-earnings ratios (or "P/E\'s") below 15x, you may consider Bitcoin Group SE ( ETR:ADE ) as a stock to avoid entirely with its 59.7x P/E ratio. Nonetheless, we\'d need to dig a little deeper to determine if there is a rational basis for the highly elevated P/E. Bitcoin Group certainly has been doing a great job lately as it\'s been growing earnings at a really rapid pace. The P/E is probably high because investors think this strong earnings growth will be enough to outperform the broader market in the near future. If not, then existing shareholders might be a little nervous about the viability of the share price. See our latest analysis for Bitcoin Group pe-multiple-vs-industry Want the full picture on earnings, revenue and cash flow for the company? Then our free report on Bitcoin Group will help you shine a light on its historical performance. Is There Enough Growth For Bitcoin Group? Bitcoin Group\'s P/E ratio would be typical for a company that\'s expected to deliver very strong growth, and importantly, perform
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-09-30
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $525,418,742,875
- Hash Rate: 391843300.11931473
- Transaction Count: 275474.0
- Unique Addresses: 625600.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.47
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: The price of bitcoin ( BTC ) is modestly lower during U.S. trading hours on Friday, but at its current $26,300 is ahead about 2% from week-ago levels. The crypto began the week with sizable losses, dipping below $25,000 for the first time since mid-June over worry bankrupt crypto exchange FTX was soon to begin unloading all of its digital assets, which included more than $500 million worth of bitcoin. While FTX did receive court permission to begin selling, the sales will be at a measured pace and unlikely to cause any quick tumbles in crypto markets. Bitcoin (BTC) price crash averted, but rallies continue to be sold The overarching theme in bitcoin and crypto in general for nearly four months now is the speed with which even modest moves higher get reversed. As the FTX news this week demonstrates, while at the moment there don't appear to be any entities interested in a full-scale dumping of digital assets on the market, there remain numerous sellers looking to take advantage of rallies. In addition to FTX, consider other impaired trading firms, lenders, and exchanges, as well as bitcoin miners – many of whom one year ago were confirmed hodlers, but now must sell at least part of their bitcoin stash each month to help fund their operating expenses. Despite the selling pressure, this week's positive news about asset management giant Franklin Templeton joining the race to list a spot BTC exchange-traded fund (ETF) and global lender Deutsche Bank delving deeper into digital asset custody and tokenization might backstopped prices, rendering Monday's breakdown a false signal, according to crypto service provider Matrixport. "The Franklin Templeton-news was released as prices neared $25,100, coinciding with when the market became aware of BlackRock’s Bitcoin ETF filing in June," Matrixport noted in a market update on Telegram. "Hence, this $25,000 level is of the utmost importance now, and appears to be fortified by news affecting prices." Story continues (Matrixport) Bitcoin reclaiming the previous trading range and consolidating at these levels was a "promising sign," according to Rachel Lin, CEO of derivatives decentralized exchange SynFutures. "BTC is currently in the process of converting the $26,000 level from resistance to support," Lin said in an emailed note. "Until Wednesday, every attempt at breaking above this level resulted in heavy selling. If BTC stays above $26,000 by the end of the week, it could be a positive sign, at least in the short term." Altcoins signal weakness Unfortunately, the broader crypto market is not as strong as BTC. Rachel Lin, CEO of SynFutures While bitcoin consolidated, the rest of the market showed signs of weakness. The CoinDesk Market Index ( CMI ), which tracks the performance of a broad basket of digital assets, only gained 0.8% over the past seven days, the CoinDesk Bitcoin Price Index ( XBX ) outperformed and was up 1.7%. Among CoinDesk's sectorial indices, the Culture and Entertainment sector ( CNE ) performed the worst with 3.2% loss in a week, followed by the DeFi sector ( DCF ) declining 1.6%. "Unfortunately, the broader crypto market is not as strong as BTC," Lin said. "Their fall on Monday was bigger than BTC, and their bounce back was weaker. This led to the previous week's support level of 515-520 billion [market capitalization] turning into resistance." Apecoin ( APE ) was one of the week's biggest loser, dropping near 18% in a week ahead of its major token unlock due this Sunday. The event will release $43 million worth of tokens, giving early investors a chance for selling. "Trading BTC long and strategically selling altcoins, particularly those with event-related risks like ApeCoin, has the potential to generate significant alpha," Matrixport advised....
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
No specific news available.
**Last 60 Days of Bitcoin's Closing Prices:**
[]
Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-01
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $528,385,014,000
- Hash Rate: 400361632.7306042
- Transaction Count: 320516.0
- Unique Addresses: 613394.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.48
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: US Markets Tyson Foods, Henry Schein And 3 Stocks To Watch Heading Into Monday Investor Sentiment Declines After July's Jobs Report This Giant Fund Cuts Back On Apple And Microsoft Stocks, Picks Up Tesla And Nvidia Crypto Can Bitcoin Touch $100K Before 2024 Halving: Crypto Bro Wagers 1M Satoshis Shiba Inu Burn Rate Spikes Over 130% — Can $10 Worth SHIB Make You A Meme Coin Millionaire Today? Bitcoin, Ethereum, Dogecoin Traded Mixed Amid CRV Hack Drama: Analyst Says King Crypto 'Screaming Up' As Halving Draws Near US Politics DeSantis' Fight With Disney Echoes 'Autocratic' China, Russia Tactics, Say Former Government Officials: 'Corrosive To ... Demcocracy' GOP Presidential Candidate Suggests Ukraine Aid Motivated By Hunter Biden Connection: 'Repayment For A Private Bribe Bill Barr Challenges Trump's First Amendment Defense: 'The Stuff You Were Spouting, You Knew Was Wrong' Trump Says He Will Ask For Recusal Of 2020 Election Subversion Case Judge, Change Of Venue Out Of D.C: 'No Way I Can Get A Fair Trial World Politics Kim Jong Un Amplifies North Korea Weapons Drive For 'War Preparations How US Microchips Continue To Empower Russia's Military Despite Sanctions Russia Says Ukraine War To Continue 'For The Foreseeable Future': 'No Grounds' For Peace Agreement In Ukraine, Russia's Jamming Leaves US Weapons Useless US Economy Fed's Bowman Says Inflation And These 2 Factors Could Guide Future Monetary Policy Action, Even As She Hints At More Future Rate Hikes Tech Amazon's AWS Vs Microsoft Azure Vs Google Cloud: How Tech Titans Fared In June Quarter's Cloud Showdown Apple iPhone 15's 'Bells And Whistles' Enticing But Can It Overcome Soft Patch In US Smartphone Market? Gurman Weighs In Apple Spotted Testing Next-Gen M3-Powered Mac Mini Ahead Of Rumored October Launch 12 Million US Workers May Need To Switch Jobs By 2030 Due To AI: Study Story continues Electric Vehicle Tesla Set To Topple 2 Legacy Auto Giants In Revenue By 2027, Says Analyst: Why Wall Street Estimates For Volume Growth Are 'Way Too Low Elon Musk's Tasty Vision Takes Shape: Tesla's 'Grease Meets The Jetsons' Diner To Open in LA This Year Leaked TikTok Video Reveals More Details Into Elon Musk's Tesla Cybertruck Frunk Elon Musk Reacts To Dogecoin Co-Creator's Sand Bashing Video, Wants Cybertruck To Repeat The Same Feat Consumer Exclusive: DraftKings CEO Says Messi 'A Big Game Changer For MLS,' Women's World Cup Helping Grow Women's Sports Betting Communication Elon Musk Admits Major Flaw In X's Search Function, Says An AI-Powered Fix Is In The Works Zuckerberg Not Keen To Stream Cage Fight On Musk's X: Insists A 'More Reliable' Platform For Charity Event General Elon Musk's SpaceX Starship Test Faces Hurdle: Four Engines Shut Down Prematurely Photo by Gino Crescoli from Pixabay Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better . This article Top Market, Crypto, Tech and Politics Headlines Today While US Was Sleeping originally appeared on Benzinga.com . © 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Bitcoin (BTC) rose above the $28,000 mark early Monday to log its highest prices in over a month as analysts pointed to ETF optimism and seasonality as a few reasons behind the gains. Traders at Japanese exchange Bitbank were already eyeing the $28,000 level for bitcoin last week, as CoinDesk reported . The $28,500 acted as a major support level in the previous bull market and could be a key price level to watch for in the coming weeks as it potentially flips into a level of resistance. In the past 24 hours, ether (ETH) bumped over $1,700, bnb (BNB) and cardano (ADA) added 3.3%, while polygon (MATIC) rose 5.5%. Solana’s SOL tokens led major gains at 14.5%, mainly on renewed optimism for the network among some traders. Short liquidations on crypto-tracked futures may have contributed to the rise in bitcoin and ether. Data shows some $94 million in bets against rising prices were impacted on Sunday, creating a “short squeeze” – which occurs when there is a lack of supply and an excess of demand for the stock due to short sellers having to buy stocks to cover their short. Some 30,000 bearish bets were liquidated, the data shows, with most liquidations taking place on the crypto exchange OKX. Liquidation refers to when an exchange forcefully closes a trader\'s leveraged position due to a partial or total loss of the trader\'s initial margin. This happens when a trader is unable to meet the margin requirements for a leveraged position or fails to have sufficient funds to keep the trade open. Elsewhere, some traders pointed to historic seasonality as a driver of Sunday’s gains. “These gains in cryptocurrencies come with the bullish impression that characterizes the month of October in general,” shared Samer Hasn, markets analyst at XS.com . “Bitcoin has not recorded monthly losses in October since 2013 except twice, which prompted this month to be called “Uptober” within the cryptocurrency community,” Hasn added. ETF angle questioned While some are attributing the rise in prices to optimism about crypto-related ETFs – after all a number of futures-based ether ETFs opened for business on Monday morning and Grayscale applied with the SEC to convert its $5 billion Ethereum Trust (ETHE) to a spot ETF – Dexterity Capital Managing Partner Michael Safai isn\'t so sure. "ETF issuers don\'t know the markets like traders do," he told CoinDesk TV . "Their optimism is a bit misplaced; anyone who wants bitcoin or ether surely has it." (Oliver Knight contributed reporting.)', 'The world of cryptocurrency trading is undergoing a profound metamorphosis, fueled by a growing wave of investors seeking alternatives to the well-established centralized exchanges (CEXs) that have long reigned supreme. These CEXs have traditionally acted as intermediaries, facilitating transactions between buyers and sellers of digital currencies like Bitcoin and Ethereum. While CEXs offer certain advantages such as liquidity, convenience and security, they also carry significant downsides, including hefty fees and privacy concerns as well as susceptibility to hacking and fraud.\nCrypto’s shifting landscape has propelled decentralized exchanges (DEXs) into the limelight. DEXs are platforms that empower users to engage in direct peer-to-peer trading of crypto assets, eliminating the need for intermediaries. Harnessing the power of blockchain or distributed ledger technology, DEXs introduce a range of advantages over their centralized counterparts, including:\n1. Lower fees:DEXs typically impose more favorable fee structures than CEXs, which often burden users with high commissions, spreads and withdrawal charges.\n2. Enhanced privacy:Unlike CEXs, which demand personal information and identity verification, DEXs operate with greater privacy, sidestepping anti-money laundering (AML) and know-your-customer (KYC) regulations.\n3. Greater control:DEXs empower users by allowing them to maintain full control over their crypto assets and private keys, unlike CEXs that hold users’ funds in their own wallets or custodial services.\n4. Fostering innovation:DEXs provide access to a broader spectrum of crypto assets and services, including lending, borrowing, staking, yield farming, non-fungible tokens (NFTs) and more.\nNonetheless, decentralized exchanges grapple with their own set of challenges, such as:\n1. Limited liquidity:DEXs often face lower trading volumes and liquidity compared to CEXs, resulting in higher price slippage and longer transaction processing times.\n2. Increased complexity:DEXs may require users to possess a higher degree of technical expertise compared to CEXs, potentially discouraging novice or casual traders.\n3. Security concerns:DEXs are not immune to cyberattacks or technical glitches, posing risks to the platform’s integrity and the functionality of underlying smart contracts.\n4. Regulatory uncertainty:Operating within a legal gray area, DEXs often lack clear definitions or regulations in most jurisdictions, raising questions about their compliance.\nIs it possible to marry the strengths of centralized exchanges and decentralized exchanges? Can we envision a decentralized exchange that adheres to regulatory standards? The answer is affirmative. Enter the regulated decentralized exchange (RDEX). An RDEX allows users to engage in direct crypto asset trading while adhering to relevant laws and regulations in its jurisdiction of operation. It preserves the fundamental tenets of decentralization — transparency, immutability and censorship resistance — while bolstering them with legitimacy, accountability and security.\nSo, how does an RDEX function? It achieves this delicate balance by incorporating a regulatory framework into its protocol design, employingsmart contractsto enforce user and transaction rules and standards. For instance, it may mandate user registration with real identities and source of funds verification before permitting trading. It may also impose limits on trade amounts or frequencies and report transactions to authorities for tax and compliance purposes.\nSome of them will adopt a hybrid approach, blending on-chain and off-chain components. By leveraging off-chain service providers for KYC/AML checks and liquidity pools, they maintain decentralization and security through cryptographic proofs, ensuring the honesty and integrity of these services.\nWhy are RDEXs so vital in the crypto space? It presents a pragmatic solution to one of the crypto industry’s foremost challenges: regulation. As governments and regulators worldwide grow increasingly concerned about the economic and societal implications of crypto activities, regulation becomes inevitable. While constructive regulation can offer clarity, security and recognition, excessive restrictions can stifle innovation and growth.\nRDEXs can serve as a bridge between the crypto industry and regulators. They demonstrate that crypto activities can be conducted in a responsible, compliant and transparent manner, preserving decentralization’s core values. By fostering trust among users, investors and authorities, RDEXs mitigate the risks of fraud, manipulation and abuse.\nMoreover, RDEXs empower the future of decentralized trading by granting access to a broader array of crypto assets and services. These include the trading of security tokens, which represent real-world assets like stocks, bonds, real estate or art. While security tokens promise to revolutionize the financial industry, their strict regulations demand compliant platforms, which RDEXs can provide.\nCentral bank digital currencies(CBDCs) are another facet of the crypto landscape that RDEXs can facilitate. CBDCs, digital versions of fiat currencies issued by central banks, promise faster, cheaper and more secure transactions but pose unique challenges for the crypto industry. It can integrate CBDCs with other crypto assets and services, ensuring privacy, interoperability and competition.\nRDEXs are not just theoretical concepts; they are tangible realities. Projects like eToroX, backed by eToro and licensed by the Gibraltar Financial Services Commission, is an example of the RDEX in action — enabling users to trade crypto assets, including security tokens and stablecoins pegged to fiat currencies while adhering to regulatory frameworks.\nInjective Protocol, supported by Binance, another major player in the crypto space, offers a layer-2 DEX built on Ethereum. It facilitates the trading of crypto assets, including derivatives, futures, options and synthetics, and collaborates with central banks on CBDC integration.\nProjects like Bitverse, supported by Bybit and the Mantle Network, are pioneering a credit rating system. This system allows users to leverage their crypto assets and reputation to access a range of financial services and products in the Web3 space. Regulators could explore such platforms to verify user creditworthiness, both on and off-chain. (I do not have any ties to any of the projects or companies mentioned in this piece.)\nIn summary, RDEXs represent a new breed of decentralized exchanges that adhere to regulation. They bridge the gap between the crypto industry and regulators, providing platforms that cater to both sides’ needs. It unlocks access to a broader spectrum of crypto assets and services, empowering the future of decentralized trading.\nHowever, RDEXs are not the final destination of crypto’s evolution. Numerous challenges and questions remain, including those related to interoperability, scalability, security and the ever-growing complexity of crypto assets and services.\nFurthermore, the crypto industry continues to dream beyond RDEXs.Web 4.0, the hypotheticalnext chapter of the internet, hints at an even more immersive, intuitive and intelligent way of interacting with information and value in the most decentralization manner governed by artificial intelligence may be the way forward. While Web4 remains speculative, it underscores the crypto industry’s relentless pursuit of innovation, openness, fairness and decentralization. This concept also works well with RDEXs, where no single person is running the exchange, it is run by codes and AI.\nThe crypto industry’s evolution is far from over, with more innovative solutions and revolutionary ideas on the horizon, all aimed at shaping a more decentralized future.', 'The world of cryptocurrency trading is undergoing a profound metamorphosis, fueled by a growing wave of investors seeking alternatives to the well-established centralized exchanges (CEXs) that have long reigned supreme. These CEXs have traditionally acted as intermediaries, facilitating transactions between buyers and sellers of digital currencies like Bitcoin and Ethereum. While CEXs offer certain advantages such as liquidity, convenience and security, they also carry significant downsides, including hefty fees and privacy concerns as well as susceptibility to hacking and fraud. Rise of decentralized crypto trading Crypto’s shifting landscape has propelled decentralized exchanges (DEXs) into the limelight. DEXs are platforms that empower users to engage in direct peer-to-peer trading of crypto assets, eliminating the need for intermediaries. Harnessing the power of blockchain or distributed ledger technology, DEXs introduce a range of advantages over their centralized counterparts, including: 1. Lower fees: DEXs typically impose more favorable fee structures than CEXs, which often burden users with high commissions, spreads and withdrawal charges. 2. Enhanced privacy: Unlike CEXs, which demand personal information and identity verification, DEXs operate with greater privacy, sidestepping anti-money laundering (AML) and know-your-customer (KYC) regulations. 3. Greater control: DEXs empower users by allowing them to maintain full control over their crypto assets and private keys, unlike CEXs that hold users’ funds in their own wallets or custodial services. 4. Fostering innovation: DEXs provide access to a broader spectrum of crypto assets and services, including lending, borrowing, staking, yield farming, non-fungible tokens ( NFTs ) and more. Nonetheless, decentralized exchanges grapple with their own set of challenges, such as: 1. Limited liquidity: DEXs often face lower trading volumes and liquidity compared to CEXs, resulting in higher price slippage and longer transaction processing times. 2. Increased complexity: DEXs may require users to possess a higher degree of technical expertise compared to CEXs, potentially discouraging novice or casual traders. 3. Security concerns: DEXs are not immune to cyberattacks or technical glitches, posing risks to the platform’s integrity and the functionality of underlying smart contracts. 4. Regulatory uncertainty: Operating within a legal gray area, DEXs often lack clear definitions or regulations in most jurisdictions, raising questions about their compliance. The birth of RDEXs Is it possible to marry the strengths of centralized exchanges and decentralized exchanges? Can we envision a decentralized exchange that adheres to regulatory standards? The answer is affirmative. Enter the regulated decentralized exchange (RDEX). An RDEX allows users to engage in direct crypto asset trading while adhering to relevant laws and regulations in its jurisdiction of operation. It preserves the fundamental tenets of decentralization — transparency, immutability and censorship resistance — while bolstering them with legitimacy, accountability and security. Story continues So, how does an RDEX function? It achieves this delicate balance by incorporating a regulatory framework into its protocol design, employing smart contracts to enforce user and transaction rules and standards. For instance, it may mandate user registration with real identities and source of funds verification before permitting trading. It may also impose limits on trade amounts or frequencies and report transactions to authorities for tax and compliance purposes. Some of them will adopt a hybrid approach, blending on-chain and off-chain components. By leveraging off-chain service providers for KYC/AML checks and liquidity pools, they maintain decentralization and security through cryptographic proofs, ensuring the honesty and integrity of these services. Value of RDEXs Why are RDEXs so vital in the crypto space? It presents a pragmatic solution to one of the crypto industry’s foremost challenges: regulation. As governments and regulators worldwide grow increasingly concerned about the economic and societal implications of crypto activities, regulation becomes inevitable. While constructive regulation can offer clarity, security and recognition, excessive restrictions can stifle innovation and growth. RDEXs can serve as a bridge between the crypto industry and regulators. They demonstrate that crypto activities can be conducted in a responsible, compliant and transparent manner, preserving decentralization’s core values. By fostering trust among users, investors and authorities, RDEXs mitigate the risks of fraud, manipulation and abuse. Moreover, RDEXs empower the future of decentralized trading by granting access to a broader array of crypto assets and services. These include the trading of security tokens, which represent real-world assets like stocks, bonds, real estate or art. While security tokens promise to revolutionize the financial industry, their strict regulations demand compliant platforms, which RDEXs can provide. Central bank digital currencies (CBDCs) are another facet of the crypto landscape that RDEXs can facilitate. CBDCs, digital versions of fiat currencies issued by central banks, promise faster, cheaper and more secure transactions but pose unique challenges for the crypto industry. It can integrate CBDCs with other crypto assets and services, ensuring privacy, interoperability and competition. RDEXs in action RDEXs are not just theoretical concepts; they are tangible realities. Projects like eToroX, backed by eToro and licensed by the Gibraltar Financial Services Commission, is an example of the RDEX in action — enabling users to trade crypto assets, including security tokens and stablecoins pegged to fiat currencies while adhering to regulatory frameworks. Injective Protocol, supported by Binance, another major player in the crypto space, offers a layer-2 DEX built on Ethereum. It facilitates the trading of crypto assets, including derivatives, futures, options and synthetics, and collaborates with central banks on CBDC integration. Projects like Bitverse, supported by Bybit and the Mantle Network, are pioneering a credit rating system. This system allows users to leverage their crypto assets and reputation to access a range of financial services and products in the Web3 space. Regulators could explore such platforms to verify user creditworthiness, both on and off-chain. (I do not have any ties to any of the projects or companies mentioned in this piece.) On the horizon In summary, RDEXs represent a new breed of decentralized exchanges that adhere to regulation. They bridge the gap between the crypto industry and regulators, providing platforms that cater to both sides’ needs. It unlocks access to a broader spectrum of crypto assets and services, empowering the future of decentralized trading. However, RDEXs are not the final destination of crypto’s evolution. Numerous challenges and questions remain, including those related to interoperability, scalability, security and the ever-growing complexity of crypto assets and services. Furthermore, the crypto industry continues to dream beyond RDEXs. Web 4.0 , the hypothetical next chapter of the internet , hints at an even more immersive, intuitive and intelligent way of interacting with information and value in the most decentralization manner governed by artificial intelligence may be the way forward. While Web4 remains speculative, it underscores the crypto industry’s relentless pursuit of innovation, openness, fairness and decentralization. This concept also works well with RDEXs, where no single person is running the exchange, it is run by codes and AI. The crypto industry’s evolution is far from over, with more innovative solutions and revolutionary ideas on the horizon, all aimed at shaping a more decentralized future. View comments', 'Coinbase, the largest U.S.-based cryptocurrency exchange, announced on Sunday that it has received a Major Payment Institution (MPI) license from Singapore’s central bank, enabling the exchange to expand its digital payment token services in the country for institutional and retail investors.\nSee related article:Weekly Market Wrap: Nomura’s Bitcoin Fund, Citigroup blockchain move fail to lift Bitcoin above US$27,000\n• Singapore’s MPI license permits institutions to offer payment services without adherence to the standard transaction volume. Typically, providers are constrained by a SG$3 million (US$2.2 million) limit for monthly transactions per service, and SG$6 million for multiple services, with a daily outstanding e-money cap of SG$5 million, according to theMonetary Authority of Singapore (MAS).\n• “The newly acquired license is not only a validation of Coinbase’s operations but also represents a promise and responsibility to the growing crypto and Web3 community in Singapore,” the exchangesaidin a blog post on Sunday.\n• Coinbase received an in-principalapproval to expand its digital asset services in the country last October.\n• Coinbase, a Nasdaq-listed crypto exchange, got regulatory approval to offer perpetual futures trading from theBermuda Monetary Authoritylast Thursday. The company acquired anequity stake in CircleInternet Financial, the issuer of the USDC stablecoin, at the end of August.\n• Coinbase shares (COIN) rose 5.55% to US$79.25 during pre-market trading on Monday, as of 05:25 p.m. in Hong Kong.\nSee related article:Back from the dead: Can FTX stage a comeback?', 'Coinbase , the largest U.S.-based cryptocurrency exchange, announced on Sunday that it has received a Major Payment Institution (MPI) license from Singapore’s central bank, enabling the exchange to expand its digital payment token services in the country for institutional and retail investors. See related article: Weekly Market Wrap: Nomura’s Bitcoin Fund, Citigroup blockchain move fail to lift Bitcoin above US$27,000 Fast Facts Singapore’s MPI license permits institutions to offer payment services without adherence to the standard transaction volume. Typically, providers are constrained by a SG$3 million (US$2.2 million) limit for monthly transactions per service, and SG$6 million for multiple services, with a daily outstanding e-money cap of SG$5 million, according to the Monetary Authority of Singapore (MAS) . “The newly acquired license is not only a validation of Coinbase’s operations but also represents a promise and responsibility to the growing crypto and Web3 community in Singapore,” the exchange said in a blog post on Sunday. Coinbase received an in-principal approval to expand its digital asset services in the country last October. Coinbase, a Nasdaq-listed crypto exchange, got regulatory approval to offer perpetual futures trading from the Bermuda Monetary Authority last Thursday. The company acquired an equity stake in Circle Internet Financial, the issuer of the USDC stablecoin, at the end of August. Coinbase shares (COIN) rose 5.55% to US$79.25 during pre-market trading on Monday, as of 05:25 p.m. in Hong Kong. See related article: Back from the dead: Can FTX stage a comeback?', 'LAS VEGAS, October 02, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company ") announced today its wholly owned subsidiary, Third Avenue Apartments LLC (" Third Avenue "), itself a wholly owned subsidiary of Ault Global Real Estate Equities, Inc. (" AGREE "), has listed for sale its multifamily development site in St. Petersburg, Florida. Third Avenue has signed a listing agreement with international brokerage firm CBRE Inc. The decision to sell the approximately one-acre property follows the decision to also list the four hotels also owned by AGREE and is driven by the Company’s desire to focus on its core businesses, including the crane rental business, the California licensed lender, and data center operations, which includes Bitcoin mining. Another driving force for selling the property is the current macroeconomic climate and the high-interest rate environment the financial markets are experiencing. Overall, the development of a high-rise multifamily project does not fit the Company’s current focus or capital allocation strategy. However, the Company is extremely proud of the redeveloped project and is confident that potential developers will benefit from the time and effort expended by the Company and all parties involved in the process. The Company plans to use the proceeds from the sale of the St. Petersburg property to pay off debt and commit more capital to its core businesses. The project was redeveloped to permit a 23-story, 285-unit, mixed use multifamily property with luxury amenities throughout. While maintaining city standards for integrating the development into the local St. Petersburg community, the project was meant to bring a youthfully expressive property to celebrate the lifestyle of all current and future residents. The redevelopment designed proposed by Third Avenue and approved by the local zoning board planned resort-style amenities, including a fitness center, bowling alley, golf simulator, pool and amenity deck, and a dedicated pet grooming space. The ground floor anticipated multiple retail spaces for potential tenants providing residents and locals dining, retail, and fitness options to complement the projects amenities. Story continues Milton "Todd" Ault III, Executive Chairman of Ault Alliance, shared his insight on the decision to sell the project, "We are proud of the time and effort expended to bring this project to this point and are excited to deliver a shovel-ready development to potential purchasers and the St. Petersburg area. The Company believes this project, in hands of the right development group, will succeed in bringing a unique and lively development to a historic St. Petersburg downtown location." Ault concluded, "There can be no assurance that the project will be sold or that our asking price will be met. With that being said, the Company believes the project is well-situated to capitalize on the fast-growing St. Petersburg market. The Company is optimistic that the project will garner significant interest on the open market and is excited to work with any potential purchaser throughout the transition." Interested parties are encouraged to contact Ault Alliance for further details. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231002728195/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235', 'LAS VEGAS, October 02, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company ") announced today its wholly owned subsidiary, Third Avenue Apartments LLC (" Third Avenue "), itself a wholly owned subsidiary of Ault Global Real Estate Equities, Inc. (" AGREE "), has listed for sale its multifamily development site in St. Petersburg, Florida. Third Avenue has signed a listing agreement with international brokerage firm CBRE Inc. The decision to sell the approximately one-acre property follows the decision to also list the four hotels also owned by AGREE and is driven by the Company’s desire to focus on its core businesses, including the crane rental business, the California licensed lender, and data center operations, which includes Bitcoin mining. Another driving force for selling the property is the current macroeconomic climate and the high-interest rate environment the financial markets are experiencing. Overall, the development of a high-rise multifamily project does not fit the Company’s current focus or capital allocation strategy. However, the Company is extremely proud of the redeveloped project and is confident that potential developers will benefit from the time and effort expended by the Company and all parties involved in the process. The Company plans to use the proceeds from the sale of the St. Petersburg property to pay off debt and commit more capital to its core businesses. The project was redeveloped to permit a 23-story, 285-unit, mixed use multifamily property with luxury amenities throughout. While maintaining city standards for integrating the development into the local St. Petersburg community, the project was meant to bring a youthfully expressive property to celebrate the lifestyle of all current and future residents. The redevelopment designed proposed by Third Avenue and approved by the local zoning board planned resort-style amenities, including a fitness center, bowling alley, golf simulator, pool and amenity deck, and a dedicated pet grooming space. The ground floor anticipated multiple retail spaces for potential tenants providing residents and locals dining, retail, and fitness options to complement the projects amenities. Story continues Milton "Todd" Ault III, Executive Chairman of Ault Alliance, shared his insight on the decision to sell the project, "We are proud of the time and effort expended to bring this project to this point and are excited to deliver a shovel-ready development to potential purchasers and the St. Petersburg area. The Company believes this project, in hands of the right development group, will succeed in bringing a unique and lively development to a historic St. Petersburg downtown location." Ault concluded, "There can be no assurance that the project will be sold or that our asking price will be met. With that being said, the Company believes the project is well-situated to capitalize on the fast-growing St. Petersburg market. The Company is optimistic that the project will garner significant interest on the open market and is excited to work with any potential purchaser throughout the transition." Interested parties are encouraged to contact Ault Alliance for further details. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231002728195/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235', 'Investing.com -- U.S. stocks are wobbling to start a new month and quarter after a last-minute deal to extend government funding for another 45 days averted a government shutdown. At 10:33 ET (14:33 GMT), the Dow Jones Industrial Average was down 108 points or 0.3%, while the S&P 500 was down 0.1% and the NASDAQ Composite was up 0.5%. While passage of the stopgap measure potentially threatens House Speaker Kevin McCarthy\'s hold on the leadership, the extension means lawmakers have more time to pass spending bills and agree on a longer-term plan without the disruption to the system a shutdown poses. Lawmakers are still divided on spending levels and on money for Ukraine and border security. Jobs data in focus The main indices were mixed in the final day of September trading on Friday, although all three slipped on a monthly basis. The S&P 500 and Nasdaq Composite in particular dropped to their worst month of 2023 so far. However, the indices are up for the year, highlighting the strength of a rally several months ago that was driven by soaring enthusiasm for generative artificial intelligence. Headlining the data calendar this week will be several reports on the state of the labor market, including the key September jobs report on Friday, with economists predicting that the U.S. added fewer jobs during the month compared with August. Fed Chair Jerome Powell is scheduled to speak at 11:00 ET at a roundtable discussion with small business owners. Philadelphia Fed President Patrick Hasker and Cleveland Fed President Loretta Mester are also slated to make remarks during the day. Cryptocurrency stocks in focus Shares in crypto-related stocks such as Riot Platforms (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) rose 12.8% and 7.9%, respectively, reflecting a surge in Bitcoin\'s price to near two-month highs. Cryptocurrency exchange Coinbase\'s (NASDAQ:COIN) shares also rose 2% after the company announced that its Singapore arm had obtained a license to offer digital payment token services to individuals and institutions in the city-state. Story continues Oil climbs amid tight supply outlook The Organization of the Petroleum Exporting Countries and its allies, also known as OPEC+, will likely not change its production policy at a closely-watched meeting of the Joint Ministerial Monitoring Committee on Wednesday, Reuters has reported. "We do not believe that the group will change its output policy," analysts at ING said in a note. "However, what is possible (and a JMMC meeting is not needed for this), is Saudi Arabia starting to ease its additional voluntary supply cut of [one million] [barrels per day]." Separately, OPEC Secretary General Haitham Al Ghais noted on Monday that oil demand is expected to remain "resilient" over the rest of 2023, a prediction that was boosted by strong factory activity figures out of top oil importer China. Related Articles U.S. stocks waver after stopgap funding deal; focus turns to jobs Birkenstock Seeks $9.2 Billion Valuation in Upcoming New York IPO GM furloughs another 160 workers due to UAW strike', 'Investing.com -- U.S. stocks are wobbling to start a new month and quarter after a last-minute deal to extend government funding for another 45 days averted a government shutdown.\nAt 10:33 ET (14:33 GMT), the Dow Jones Industrial Average was down 108 points or 0.3%, while the S&P 500 was down 0.1% and the NASDAQ Composite was up 0.5%.\nWhile passage of the stopgap measure potentially threatens House Speaker Kevin McCarthy\'s hold on the leadership, the extension means lawmakers have more time to pass spending bills and agree on a longer-term plan without the disruption to the system a shutdown poses. Lawmakers are still divided on spending levels and on money for Ukraine and border security.\nThe main indices were mixed in the final day of September trading on Friday, although all three slipped on a monthly basis. The S&P 500 and Nasdaq Composite in particular dropped to their worst month of 2023 so far. However, the indices are up for the year, highlighting the strength of a rally several months ago that was driven by soaring enthusiasm for generative artificial intelligence.\nHeadlining the data calendar this week will be several reports on the state of the labor market, including the key September jobs report on Friday, with economists predicting that the U.S. added fewer jobs during the month compared with August.\nFed Chair Jerome Powell is scheduled to speak at 11:00 ET at a roundtable discussion with small business owners. Philadelphia Fed President Patrick Hasker and Cleveland Fed President Loretta Mester are also slated to make remarks during the day.\nShares in crypto-related stocks such as Riot Platforms (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) rose 12.8% and 7.9%, respectively, reflecting a surge in Bitcoin\'s price to near two-month highs.\nCryptocurrency exchange Coinbase\'s (NASDAQ:COIN) shares also rose 2% after the company announced that its Singapore arm had obtained a license to offer digital payment token services to individuals and institutions in the city-state.\nThe Organization of the Petroleum Exporting Countries and its allies, also known as OPEC+, will likely not change its production policy at a closely-watched meeting of the Joint Ministerial Monitoring Committee on Wednesday, Reuters has reported.\n"We do not believe that the group will change its output policy," analysts at ING said in a note. "However, what is possible (and a JMMC meeting is not needed for this), is Saudi Arabia starting to ease its additional voluntary supply cut of [one million] [barrels per day]."\nSeparately, OPEC Secretary General Haitham Al Ghais noted on Monday that oil demand is expected to remain "resilient" over the rest of 2023, a prediction that was boosted by strong factory activity figures out of top oil importer China.\nRelated Articles\nU.S. stocks waver after stopgap funding deal; focus turns to jobs\nBirkenstock Seeks $9.2 Billion Valuation in Upcoming New York IPO\nGM furloughs another 160 workers due to UAW strike', "NEW YORK (AP) — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. Now, he has to convince a jury that he wasn't, in reality, the next Bernie Madoff. The trial of Bankman-Fried, the founder of the failed cryptocurrency brokerage FTX, will begin Tuesday with jury selection. Prosecutors from the Southern District of New York are expected to lay out a case against Bankman-Fried that shows he stole billions of dollars in FTX customer deposits and used the money to fund his hedge fund, buy real estate, and make millions of dollars of illegal campaign donations to Democrats and Republicans in an attempt to buy influence over cryptocurrency regulation in Washington. While the case will involve the complicated world of cryptocurrencies, prosecutors are expected to try to boil it down to the simplest of terms for jurors: Bankman-Fried took money from customers and used it in ways he wasn’t supposed to. “Prosecutors are going to say, ‘look at where the money went and how it was spent,'” said Michael Zweiback, co-founder of the law firm Zweiback, Fiset, & Zalduendo LLP, and a former federal prosecutor. “This case is less about the complicated investments and all about garden-variety fraud.” Before FTX collapsed and filed for bankruptcy last November, Bankman-Fried was one of the most powerful people in the cryptocurrency industry. “SBF” had an estimated net worth of $32 billion last year, at least on paper. He interacted with former presidents, politicians on both sides of the aisle, celebrities, and CEOs. When smaller crypto firms started imploding in early 2022, Bankman-Fried told the public he would help prop up the market, prompting the comparisons with J.P. Morgan. The 31-year-old Bankman-Fried founded FTX in 2019, and it grew rapidly. The son of Stanford University professors, who was known to play the video game “League of Legends” during meetings, Bankman-Fried attracted investments from the highest echelons of Silicon Valley. FTX quickly became the second-largest crypto brokerage behind Binance. Story continues Bankman-Fried and his inner circle of executives ran their then-growing crypto empire from The Bahamas, out of the luxury apartment complex Albany, where celebrities like Tiger Woods and Justin Timberlake have vacation homes. FTX had effectively two lines of business: a brokerage where customers could deposit, buy, and sell cryptocurrency assets on the FTX platform, and an affiliated hedge fund known as Alameda Research, which took highly speculative positions in various cryptocurrency investments. As Alameda started to pile up losses during last year's cryptocurrency market declines, prosecutors allege Bankman-Fried directed funds to be moved from FTX’s customer accounts to Alameda to plug holes in the hedge fund’s balance sheet. The house of cards that Bankman and his lieutenants built came crashing down in early November, when reports surfaced about the condition of Alameda’s balance sheet. Spooked investors, who had already seen several crypto firms collapse during the year, quickly pulled their money out of FTX and within days the firm was bankrupt. John Ray III, the restructuring expert who was tasked with cleaning up FTX in bankruptcy, described the conditions inside of FTX as worse than Enron, long considered the benchmark for corporate malfeasance in popular culture. Bankman-Fried is expected to come face-to-face with his former lieutenants at FTX for the first time since its collapse. Several of them have agreed to plead guilty to lesser crimes in exchange for testifying against him. This includes Caroline Ellison, who was the CEO of Alameda and Bankman-Fried’s off-and-on girlfriend, as well as FTX co-founder Gary Wang. Ryan Salame, another top executive at FTX, pleaded guilty on Sept. 7 to making illegal campaign contributions to Republicans on behalf of Bankman-Fried, who was publicly making contributions to Democrats. It is not known whether Salame will testify against Bankman-Fried. Ellison is expected to be the prosecution’s central witness. Prosecutors are likely to count on her to demonstrate that the collapse of FTX was not due to a few mistakes, as Bankman-Fried alleges, but to fraud. She has previously said in a statement through her lawyers that she knew funneling FTX customers' money into Alameda was wrong. “I expect the government is going to be able to show that Bankman-Fried knew what he was doing was wrong, and here are the people in the room who can corroborate that story,” said Christine Adams, a former federal prosecutor and a partner at Adams, Duerk & Kamenstein. The defense is expected to argue that while Bankman-Fried made some mistakes, the mistakes do not amount to fraud and FTX was just the latest casualty in the broad collapse of the cryptocurrency market last year. Until he had his computer privileges taken away by the presiding judge in the case, Bankman-Fried himself spent months reaching out to reporters and posting on social media to explain his actions. “Look, I screwed up,” he said in a remote interview with The New York Times’ Andrew Ross Sorkin late last year. Bankman-Fried was extradited from The Bahamas to New York in December. Before his bail was revoked, Bankman-Fried had been permitted to live with his parents in their Palo Alto, California, home with strict rules limiting his access to electronic devices. Bankman-Fried was ordered to be jailed after Judge Lewis A. Kaplan said there was probable cause to believe he was trying to tamper with potential witnesses, including Ellison, in the case. Broadly, the crypto industry has still not recovered since FTX’s collapse. The price of Ethereum and Bitcoin, the two most widely used cryptocurrencies, are still down two-thirds from where they were a year ago and the volume of trading in crypto is half what it was. The market for NFTs, artificially scarce digital objects meant to create unique digital versions of memorabilia or photographs, has all but evaporated. Roughly 3,000 NFTs trade hands daily now, compared to more than 40,000 a day a year ago, according to NonFungible.com. Even Bankman-Fried’s former competitors are facing their own legal scrutiny. This summer the Securities and Exchange Commission brought charges against Binance and its founder Changpeng Zhao similar to the allegations against FTX, including commingling of customer funds with the firm’s investments. Coinbase, the publicly traded crypto exchange, has also been charged by the SEC with securities violations. ___ AP Reporter Larry Neumeister contributed to this report from New York.", 'Sam Bankman-Fried is set to begin his trial on Oct. 3, and a 12-person jury likely will spend weeks deliberating over a slew of criminal charges—ranging from money laundering to wire fraud—leveled against the former CEO of FTX, which once was valued at $32 billion. While his fate—and any prison sentence—may not be known for more than a month, the details of his spectacular arc are well-documented, from his rise as a billionaire crypto wunderkind and philanthropist to his downfall after allegedly using customer funds to save his empire and make extravagant purchases. His case may become known as "the trial of the decade," with government witnesses set to include members of his inner circle ranging from childhood friend Gary Wang to SBF\'s one-time girlfriend and CEO of his trading firm, Alameda Research. America has a rich history of financial fraudsters, with the past two decades particularly rife with enigmatic figures that have gripped the public’s attention. Bankman-Fried’s innocence may be intact until the conclusion of the trial, but the question still remains: How do his alleged crimes compare to those of peers? And, perhaps more important, do the outcomes of their trials provide any insight on what\'s in store for Bankman-Fried? Bernie Madoff Besides Charlie Ponzi himself, Bankman-Fried’s most apt analog is Bernie Madoff, the one-time financial giant who defrauded investors out of billions of dollars. Like Bankman-Fried, Madoff established himself as a leader in his industry. Along with serving as the chairman of his investment firm, he also at one time served as the head of the NASDAQ stock exchange and helped innovate strategies in the lucrative field of market making, where firms sit in the middle of traders executing transactions. Madoff’s scheme was more overtly fraudulent than the alleged mechanics of FTX, where customer funds were used to plug holes after its associated trading firm made disastrous crypto bets. With Madoff, he would take capital from investors and claim to make trades with the funds, but instead deposit the money into a bank account, creating fake records of returns. As a classic pyramid scheme, his strategy relied on getting more customers to pay off the early investors, but not enough to raise suspicion. Story continues After his sons told authorities in 2008 that Madoff’s asset management business was a lie, he was arrested by the FBI. The Department of Justice charged him with 11 federal felonies, including securities fraud and money laundering. Unlike Bankman-Fried, Madoff insisted he was the sole party responsible—Bankman-Fried has tried to shift blame to other FTX executives, including former Alameda Research CEO Caroline Ellison. In another difference from Bankman-Fried, Madoff pleaded guilty, but that didn\'t ultimately reduce his sentence in a meaningful way—a federal court still gave him 150 years in prison in 2009. Madoff died at a federal prison medical center in 2021. Elizabeth Holmes The Theranos founder may not have committed financial crimes like Bankman-Fried and Madoff, although the criminal charge that ultimately sunk her was defrauding investors. As has been well-documented by the investigative reporting book Bad Blood and the Hulu series The Dropout , Holmes was part of the Silicon Valley legacy of prodigy tech founders that Bankman-Fried would later claim, albeit from Hong Kong and the Bahamas (Alameda did get its start in Berkeley). After dropping ou
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-02
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $552,880,636,875
- Hash Rate: 445792739.99081457
- Transaction Count: 344263.0
- Unique Addresses: 691873.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
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- Contextual Past News Article: Global privacy is at stake. Worldcoin’s blockchain technology allows for the tracking and recording of every transaction made using the currency, creating a transparent ledger accessible to authorized parties, which could be exploited for mass surveillance. While transparency can be beneficial in combating fraud and money laundering, it also poses serious threats to personal privacy.
Earlier this month,Kenya suspended Worldcoin’s activitiesin the country “until relevant public agencies certify the absence of any risk to the general public whatsoever.” They recently launched a committee tasked with investigating the project. The committee has 42 days toexamineWorldcoin and present its findings to the house.
It was only in July that OpenAI CEO Sam Altman unveiled Worldcoin, which requires users to verify their human identity by using a hardware device, known as the “Orb,” that enables iris scanning. The Orbs are accessible in 400 locations around the world. More than2.2 million peoplehave already completed the registration process, according to Worldcoin’s website. Worldcoin claims that World IDs allow individuals to establish their humanity in an age of artificial intelligence. Participants who scan their iris receive 25 WLD tokens, the project’s native cryptocurrency.
With every transaction linked to a unique identifier, including a retina scan, individual spending habits could become easily traceable. This level of surveillance opens doors for governments or corporations to monitor and control financial activities on an unprecedented scale. Biometric data tied to financial transactions poses potential risks if it falls into the wrong hands or is used for discriminatory purposes.
Centralization in the Worldcoin model also poses a significant threat by undermining personal privacy and placing immense power in the hands of a few entities or governments. If Worldcoin fulfills its aspirations and becomes a global currency, every transaction will likely be easily tracked and monitored by those in control.
Via Worldcoin, governments and corporations can gain unprecedented access to individuals’ financial activities and spending habits. Personal privacy would be compromised as individuals lose their ability to conduct transactions anonymously. Worldcoin’s centralization also raises concerns about data security. If a central authority holds all financial information on Worldcoin users, the risk of data breaches and hacks increases significantly. The potential for unauthorized access or misuse of personal data becomes a pressing issue in such an era.
Proponents of the Worldcoin model argue that this transparency would help combat illicit activities such as money laundering and terrorist financing. Critics, on the other hand, fear that it creates an unprecedented level of surveillance. Governments and corporations could potentially exploit this vast amount of data to monitor and control individual spending habits, leading to privacy infringements and social control. The potential for data breaches or misuse by malicious actors, moreover, introduces additional risks.
As a centralized digital currency, Worldcoin requires users to provide personal information during registration, including their real identities and banking details. This wealth of data becomes vulnerable to exploitation by both malicious actors and governments seeking surveillance opportunities.
The vast amount of personal information collected by Worldcoin is creating a treasure trove for data mining activities. Companies and organizations can leverage this data to gain insights into individuals’ spending habits, preferences and even political affiliations.
Such comprehensive profiling enables targeted advertising, manipulation of consumer behavior, and potentially discriminatory practices. In addition, the centralized nature of Worldcoin allows governments or authoritarian regimes with access to this information to monitor citizens’ financial activities closely.
Worldcoin’s promises and capabilities are the opposite of crypto’s original ethos. When Bitcoin first burst onto the scene in 2009, it promised independence from a financial system that thrived on dependence. Bitcoin allowed us to break away from the chains of centralized finance at a time when government bureaucrats were awarding big banks trillion-dollar bailouts. Worldcoin now wants to re-establish our chains to centralized finance for a paltry sum and the promise of convenience.
Worldcoin is crypto in name only. It represents a turning point for the entire crypto industry. Will we continue our path towards independence or will be beguiled and herded into a detour towards more dependence than ever before?...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['FTX cryptocurrency exchange founder Sam Bankman-Fried, seen here in his customary garb of T-shirt and cargo shorts, faces a fraud trial in New York. (Bloomberg / Getty Images) The main hazard in telling a big story through the eyes of its main participant is the need to rely on his version as the honest truth. Journalism schools will be able to use "Going Infinite: The Rise and Fall of a New Tycoon," Michael Lewis\' new book about the collapse of the FTX cryptocurrency exchange and the fall of its boss, Sam Bankman-Fried, as a textbook on the imperative need to approach a subject with a healthy helping of skepticism. To make a long story short, in this book Lewis doesn\'t exercise any. This is ... the greatest financial mania the world has ever seen. Zeke Faux The result is what amounts to a defense brief for Bankman-Fried for his fraud trial in New York federal court, which opens Tuesday — coinciding, as it happens, with the publication date of Lewis\' book. Fortunately, readers interested in the story of the cryptocurrency scam and Bankman-Fried\'s rise and fall can turn to a much more convincing (and more entertaining) book. That\'s " Number Go Up : Inside Crypto\'s Wild Rise and Staggering Fall," by Zeke Faux, a financial investigative reporter for Bloomberg. Faux demonstrates his incisive grasp of the story with the very first words of his prologue: "\'I\'m not going to lie,\' Sam Bankman-Fried told me," he writes. "That was a lie." Lewis, by contrast, opens his book with an anecdote about a long hike he took with Bankman-Fried in the hills above Berkeley in which he listened to his subject spin wild yarns about all the money he was making in crypto, "all of which, I should say here, turned out to be true." Well, no. Not really. The fortune of tens of billions of dollars that Bankman-Fried bragged about to Lewis was built on quicksand — assets in the form of cryptocurrency tokens, the values of which were set by Bankman-Fried himself or by the tokens\' other promoters, based on no rational yardsticks. The venture investors who poured millions into FTX were seduced by Bankman-Fried\'s boyish torrent of gibberish so baroque they thought it must be meaningful on a level beyond anything they learned in business school. The politicians who accepted his millions in donations were seduced by his self-crafted image as an altruist of remarkable and unique benevolence and his (utterly false) claim to run a responsible crypto exchange. Story continues Read more: Column: The government crackdown on crypto is well underway. Get out while you can The sports and entertainment stars — Tom Brady, Larry David, Anna Wintour — who swarmed around this shlub in cargo shorts were seduced by their need to be in on a new thing. This torrent of nonsense didn\'t snow many people who knew anything about finance and weren\'t angling for a piece of his action, such as Bloomberg\'s Matt Levine. But it sure seems to have snowed the hell out of Michael Lewis, who wrote about financial schemes in "Liar\'s Poker," "Flash Boys" and "The Big Short." In this book, he credulously quotes a venture capitalist speculating that Bankman-Fried "had a real shot at being the world\'s first trillionaire." Lewis doesn\'t say who told him so, but the absurd conjecture appeared in a slavish profile written by a freelance author for Sequoia Capital, which invested in FTX; the profile has since been scrubbed from the firm\'s website, presumably out of mortification. When it all came crashing down, the investors lost their money, the politicians had to give some of theirs back, the stars stopped returning his phone calls. Who else suffered? Of the collapse of FTX, the criminal charges against Bankman-Fried and the entire edifice of cryptocurrency, Faux accurately writes: "This is ... the greatest financial mania the world has ever seen." Lewis, asked by a smirking, sycophantic interviewer named Jon Wertheim on "60 Minutes" Sunday if the FTX scam wasn\'t just like Elizabeth Holmes\' hawking a fraudulent blood testing device under the Theranos name, rejected the thought. Holmes was "supplying phony medical information to people that might kill them," he said. "In this case, what you\'re doing is possibly losing some money that belonged to crypto speculators in the Bahamas." Then he caught himself, and added, "On the other hand, this is not to excuse." Notwithstanding Lewis\' churlish dismissal, the truth is that millions of innocent people, many of them small investors gulled by narratives such as Bankman-Fried\'s, have lost their life savings in cryptocurrency scams. Read more: Column: Thinking of putting crypto in your 401(k)? Think twice Reading their pleas to a judge overseeing one such collapse is heartbreaking — lives, marriages, hopes obliterated . ("Now when I go to work, I drink water and eat any scraps I can find for lunch. ... I am in deep depression and do not know if I can pull myself out of this,” wrote one.) In telling this story, Faux has one major advantage over Lewis: Almost from the start, he had crypto\'s number. "From the beginning," he writes, "I thought that crypto was pretty dumb. And it turned out to be even dumber than I imagined." Faux puts meat on those bare bones by escorting his readers to many of the epicenters of the crypto scam — Miami, the Bahamas, the Philippines and more. He conducted interviews with hundreds of promoters, gamblers and victims. Read more: Amid crypto crash, trading can be an addiction: It\'s \'taking over my whole life\' He visits a vast metropolis of half-abandoned high-rises outside Phnom Penh, Cambodia, where human traffickers imprison thousands of people, injecting them with amphetamines or murdering resisters, forcing them to entice credulous victims around the world into fake romantic relationships via video chats, the goal being to steal their money via crypto investments. He stops by a Philippine town where virtually the entire populace was enticed into playing the online game Axie Infinity to earn crypto tokens, until the edifice crashed, leaving the destitute players holding worthless crypto. (The Silicon Valley venture firm Andreessen Horowitz led a $152-million investment round in the game\'s distributor.) From the day he started his inquiry into bitcoin and the entire crypto world, Faux writes, "I had seen nothing but red flags." Even though 15 years had passed since a pseudonymously published white paper had laid out the principles of bitcoin and launched the entire cryptocurrency craze, "Hardly anyone knew what cryptocurrencies were for. ... It was unclear why many of the coins would be worth anything at all." One answer he found was that the crypto world is populated by the same species of crook behind every boom-time swindle known to history: "hucksters, zealots, opportunists, and outright scammers," many of whom became unimaginably rich, at least for a time — or at least seemed so. Read more: Column: Crypto tycoon Sam Bankman-Fried didn\'t lose a $16-billion fortune. His \'fortune\' was never real Lewis makes a cameo appearance in Faux\'s book, interviewing Bankman-Fried onstage at an April 2022 conference in the Bahamas sponsored by FTX. "The author\'s questions were so fawning," Faux observes, "they seemed inappropriate for a journalist." Lewis told Faux that he was already planning his book but denied that FTX had paid him for his appearance. Faux says Lewis also told him he thought U.S. regulators were hostile to crypto because they had been brainwashed or bought off by Wall Street. "You look at the existing financial system," Faux quotes Lewis, "and the crypto version is better." One doesn\'t need to validate the quotes, since their essence permeates Lewis\' book. Throughout "Going Infinite," Lewis never really comes to grips with the fundamental fact of crypto: It isn\'t worth anything. Cryptocurrencies aren\'t practical as currencies to buy things, they don\'t have intrinsic value (their prices are based entirely on what an owner can persuade someone else to pay for them — the "greater fool" theory in action), their abundance or scarcity are entirely artificial, and the supposed interest yields bruited about by promoters are either imaginary or the product of Ponzi schemes. Lewis doesn\'t seem to believe this, or at any rate doesn\'t offer his readers this necessary insight. In his only significant effort to explain how the crypto system works, he simply refers his readers to a 40,000-word Businessweek article by Levine, without making it too clear that Levine\'s article, like his subsequent commentaries, explains why crypto is essentially worthless. Lewis waves his hand at the vacuum at the heart of bitcoin: "Bitcoin often gets explained," he writes, "but somehow never stays explained." Read more: Column: Shame, suicide attempts, \'financial death\' — the devastating toll of a crypto firm\'s failure His failure to see crypto clearly for what it is (or isn\'t) allows Lewis to offer readers the pretense that there was value in Bankman-Fried\'s FTX, or would have been, had he not been brought low by an old-fashioned "run on the bank" in which investors tried to pull their money out so quickly that their claims couldn\'t be honored. That might be true, if crypto weren\'t so fundamentally crooked. In "Going Infinite," Lewis advances the conspiracy theory he offered Faux about the hostility of the financial establishment. He\'s scornful about John Ray, the experienced financial cleanup artist brought into FTX as its post-bankruptcy chief executive to untangle the mess and find whatever assets still exist to pay back customers and creditors. Lewis paints Ray as an old fogey who simply doesn\'t get it and has tried to impose old-school financial standards on new-school operations such as FTX. He implies that Ray came onto the scene with a preconception of FTX as a criminal enterprise, missing the truth that it was a new thing, comparing him to "an amateur archaeologist [who] had stumbled upon a previously unknown civilization" and can\'t decode its customs or language. Lewis quite plainly started this book project thinking he could write the definitive foundation story of cryptocurrency as "the new new thing," to quote the title of one of his earlier books. When the thing collapsed, he was unable to shed his initial enchantment. Some authors who discover in the midst of a project that their preconceptions are dead wrong have been able to reverse course — one thinks of Joe McGinniss\' "Fatal Vision," which he started convinced of the innocence of murderer Jeffrey MacDonald, only to become convinced of MacDonald\'s guilt and to report on his own journey toward the truth. Lewis hasn\'t traced that route, even though the truth about Bankman-Fried\'s activities — that he never honored his own promises about the integrity of his accounting — stared him in the face. To the end, he treats Bankman-Fried as sort of an endearing scamp who got in over his head, essentially by an adorable habit of inattention. He accepts the self-image of Bankman-Fried and his parents, Stanford law professors Joe Bankman and Barbara Fried, as people with "basically zero interest in money" — never mind allegations in a lawsuit filed by Ray that they profited by tens of millions of dollars from their son\'s enterprise, including the purchase of luxury property in the Bahamas, or that Bankman, according to a lawsuit by FTX\'s new management, complained that his salary with the company was only $200,000 rather than $1 million. Amazingly, there are still efforts in Congress to find ways to legalize and regulate cryptocurrency, which serves no significant financial purpose known to humankind. Those efforts can only be helped by doting narratives like Lewis\'. But lawmakers — and investors and aficionados of good true-crime stories — will benefit more from Faux\'s judgment that while Bankman-Fried was being lionized in public as a "benevolent prodigy," he was in fact "secretly embezzling billions of dollars of his customers\' money and blowing it on bad trades, celebrity endorsements, and an island real-estate shopping spree to rival any drug kingpin\'s." Get the latest from Michael Hiltzik Commentary on economics and more from a Pulitzer Prize winner. Sign me up. This story originally appeared in Los Angeles Times .', 'The main hazard in telling a big story through the eyes of its main participant is the need to rely on his version as the honest truth.\nJournalism schools will be able to use "Going Infinite: The Rise and Fall of a New Tycoon," Michael Lewis\' new book about the collapse of the FTX cryptocurrency exchange and the fall of its boss, Sam Bankman-Fried, as a textbook on the imperative need to approach a subject with a healthy helping of skepticism.\nTo make a long story short, in this book Lewis doesn\'t exercise any.\nThis is ... the greatest financial mania the world has ever seen.\nZeke Faux\nThe result is what amounts to a defense brief for Bankman-Fried for his fraud trial in New York federal court, which opens Tuesday — coinciding, as it happens, with the publication date of Lewis\' book.\nFortunately, readers interested in the story of the cryptocurrency scam and Bankman-Fried\'s rise and fall can turn to a much more convincing (and more entertaining) book. That\'s "Number Go Up: Inside Crypto\'s Wild Rise and Staggering Fall," by Zeke Faux, a financial investigative reporter for Bloomberg.\nFaux demonstrates his incisive grasp of the story with the very first words of his prologue: "\'I\'m not going to lie,\' Sam Bankman-Fried told me," he writes. "That was a lie."\nLewis, by contrast, opens his book with an anecdote about a long hike he took with Bankman-Fried in the hills above Berkeley in which he listened to his subject spin wild yarns about all the money he was making in crypto, "all of which, I should say here, turned out to be true."\nWell, no. Not really.\nThe fortune of tens of billions of dollars that Bankman-Fried bragged about to Lewis was built on quicksand — assets in the form of cryptocurrency tokens, the values of which were set by Bankman-Fried himself or by the tokens\' other promoters, based on no rational yardsticks.\nThe venture investors who poured millions into FTX were seduced by Bankman-Fried\'s boyish torrent of gibberish so baroque they thought it must be meaningful on a level beyond anything they learned in business school. The politicians who accepted his millions in donations were seduced by his self-crafted image as an altruist of remarkable and unique benevolence and his (utterly false) claim to run a responsible crypto exchange.\nRead more:Column: The government crackdown on crypto is well underway. Get out while you can\nThe sports and entertainment stars — Tom Brady, Larry David, Anna Wintour — who swarmed around this shlub in cargo shorts were seduced by their need to be in on a new thing.\nThis torrent of nonsense didn\'t snow many people who knew anything about finance and weren\'t angling for a piece of his action, such as Bloomberg\'s Matt Levine.\nBut it sure seems to have snowed the hell out of Michael Lewis, who wrote about financial schemes in "Liar\'s Poker," "Flash Boys" and "The Big Short." In this book, he credulously quotes a venture capitalist speculating that Bankman-Fried "had a real shot at being the world\'s first trillionaire."\nLewis doesn\'t say who told him so, but the absurd conjecture appeared ina slavish profilewritten by a freelance author for Sequoia Capital, which invested in FTX; the profile has since been scrubbed from the firm\'s website, presumably out of mortification.\nWhen it all came crashing down, the investors lost their money, the politicians had to give some of theirs back, the stars stopped returning his phone calls.\nWho else suffered? Of the collapse of FTX, the criminal charges against Bankman-Fried and the entire edifice of cryptocurrency, Faux accurately writes: "This is ... the greatest financial mania the world has ever seen."\nLewis, asked by a smirking, sycophantic interviewer named Jon Wertheimon "60 Minutes" Sundayif the FTX scam wasn\'t just like Elizabeth Holmes\' hawking a fraudulent blood testing device under the Theranos name, rejected the thought.\nHolmes was "supplying phony medical information to people that might kill them," he said. "In this case, what you\'re doing is possibly losing some money that belonged to crypto speculators in the Bahamas." Then he caught himself, and added, "On the other hand, this is not to excuse."\nNotwithstanding Lewis\' churlish dismissal, the truth is that millions of innocent people, many of them small investors gulled by narratives such as Bankman-Fried\'s, have lost their life savings in cryptocurrency scams.\nRead more:Column: Thinking of putting crypto in your 401(k)? Think twice\nReading their pleas to a judge overseeing one such collapse is heartbreaking —lives, marriages, hopes obliterated. ("Now when I go to work, I drink water and eat any scraps I can find for lunch. ... I am in deep depression and do not know if I can pull myself out of this,” wrote one.)\nIn telling this story, Faux has one major advantage over Lewis: Almost from the start, he had crypto\'s number. "From the beginning," he writes, "I thought that crypto was pretty dumb. And it turned out to be even dumber than I imagined."\nFaux puts meat on those bare bones by escorting his readers to many of the epicenters of the crypto scam — Miami, the Bahamas, the Philippines and more. He conducted interviews with hundreds of promoters, gamblers and victims.\nRead more:Amid crypto crash, trading can be an addiction: It\'s \'taking over my whole life\'\nHe visits a vast metropolis of half-abandoned high-rises outside Phnom Penh, Cambodia, where human traffickers imprison thousands of people, injecting them with amphetamines or murdering resisters, forcing them to entice credulous victims around the world into fake romantic relationships via video chats, the goal being to steal their money via crypto investments.\nHe stops by a Philippine town where virtually the entire populace was enticed into playing the online game Axie Infinity to earn crypto tokens, until the edifice crashed, leaving the destitute players holding worthless crypto. (The Silicon Valley venture firmAndreessen Horowitz led a $152-million investmentround in the game\'s distributor.)\nFrom the day he started his inquiry into bitcoin and the entire crypto world, Faux writes, "I had seen nothing but red flags." Even though 15 years had passed sincea pseudonymously published white paperhad laid out the principles of bitcoin and launched the entire cryptocurrency craze, "Hardly anyone knew what cryptocurrencies were for. ... It was unclear why many of the coins would be worth anything at all."\nOne answer he found was that the crypto world is populated by the same species of crook behind every boom-time swindle known to history: "hucksters, zealots, opportunists, and outright scammers," many of whom became unimaginably rich, at least for a time — or at least seemed so.\nRead more:Column: Crypto tycoon Sam Bankman-Fried didn\'t lose a $16-billion fortune. His \'fortune\' was never real\nLewis makes a cameo appearance in Faux\'s book, interviewing Bankman-Fried onstage at an April 2022 conference in the Bahamas sponsored by FTX.\n"The author\'s questions were so fawning," Faux observes, "they seemed inappropriate for a journalist." Lewis told Faux that he was already planning his book but denied that FTX had paid him for his appearance.\nFaux says Lewis also told him he thought U.S. regulators were hostile to crypto because they had been brainwashed or bought off by Wall Street. "You look at the existing financial system," Faux quotes Lewis, "and the crypto version is better."\nOne doesn\'t need to validate the quotes, since their essence permeates Lewis\' book. Throughout "Going Infinite," Lewis never really comes to grips with the fundamental fact of crypto: It isn\'t worth anything.\nCryptocurrencies aren\'t practical as currencies to buy things, they don\'t have intrinsic value (their prices are based entirely on what an owner can persuade someone else to pay for them — the "greater fool" theory in action), their abundance or scarcity are entirely artificial, and the supposed interest yields bruited about by promoters are either imaginary or the product of Ponzi schemes.\nLewis doesn\'t seem to believe this, or at any rate doesn\'t offer his readers this necessary insight. In his only significant effort to explain how the crypto system works, he simply refers his readers toa 40,000-word Businessweek articleby Levine, without making it too clear that Levine\'s article, like his subsequent commentaries, explains why crypto is essentially worthless.\nLewis waves his hand at the vacuum at the heart of bitcoin: "Bitcoin often gets explained," he writes, "but somehow never stays explained."\nRead more:Column: Shame, suicide attempts, \'financial death\' — the devastating toll of a crypto firm\'s failure\nHis failure to see crypto clearly for what it is (or isn\'t) allows Lewis to offer readers the pretense that there was value in Bankman-Fried\'s FTX, or would have been, had he not been brought low by an old-fashioned "run on the bank" in which investors tried to pull their money out so quickly that their claims couldn\'t be honored. That might be true, if crypto weren\'t so fundamentally crooked.\nIn "Going Infinite," Lewis advances the conspiracy theory he offered Faux about the hostility of the financial establishment. He\'s scornful about John Ray, the experienced financial cleanup artist brought into FTX as its post-bankruptcy chief executive to untangle the mess and find whatever assets still exist to pay back customers and creditors.\nLewis paints Ray as an old fogey who simply doesn\'t get it and has tried to impose old-school financial standards on new-school operations such as FTX. He implies that Ray came onto the scene with a preconception of FTX as a criminal enterprise, missing the truth that it was a new thing, comparing him to "an amateur archaeologist [who] had stumbled upon a previously unknown civilization" and can\'t decode its customs or language.\nLewis quite plainly started this book project thinking he could write the definitive foundation story of cryptocurrency as "the new new thing," to quote the title of one of his earlier books. When the thing collapsed, he was unable to shed his initial enchantment.\nSome authors who discover in the midst of a project that their preconceptions are dead wrong have been able to reverse course — one thinks of Joe McGinniss\'"Fatal Vision,"which he started convinced of the innocence of murderer Jeffrey MacDonald, only to become convinced of MacDonald\'s guilt and toreport on his own journey toward the truth.\nLewis hasn\'t traced that route, even though the truth about Bankman-Fried\'s activities — that he never honored his own promises about the integrity of his accounting — stared him in the face. To the end, he treats Bankman-Fried as sort of an endearing scamp who got in over his head, essentially by an adorable habit of inattention.\nHe accepts the self-image of Bankman-Fried and his parents, Stanford law professors Joe Bankman and Barbara Fried, as people with "basically zero interest in money" — never mind allegations in a lawsuit filed by Ray thatthey profited by tens of millions of dollarsfrom their son\'s enterprise, including the purchase of luxury property in the Bahamas, or that Bankman, according to a lawsuit by FTX\'s new management,complainedthat his salary with the company was only $200,000 rather than $1 million.\nAmazingly, there are still efforts in Congress to find ways to legalize and regulate cryptocurrency, which serves no significant financial purpose known to humankind. Those efforts can only be helped by doting narratives like Lewis\'.\nBut lawmakers — and investors and aficionados of good true-crime stories — will benefit more from Faux\'s judgment that while Bankman-Fried was being lionized in public as a "benevolent prodigy," he was in fact "secretly embezzling billions of dollars of his customers\' money and blowing it on bad trades, celebrity endorsements, and an island real-estate shopping spree to rival any drug kingpin\'s."\nGet the latest from Michael HiltzikCommentary on economics and more from a Pulitzer Prize winner.Sign me up.\nThis story originally appeared inLos Angeles Times.', "Federal Reserve Chairman Jerome Powell appears during a Senate Banking Committee hearing on Capitol Hill in Washington, Tuesday, Nov. 30, 2021. Andrew Harnik/AP Photo US stocks fell as the 10-year bond yield jumped over 11 basis points, nearing 4.7%. Fed officials Michael Barr and Michelle Bowman both sounded hawkish at an event. An Institute for Supply Management report showed manufacturing improved in September. US stocks finished mixed Monday as comments from Federal Reserve officials gave investors reason to expect restrictive policy to continue. While Fed Chairman Jerome Powell did not provide clear guidance on monetary policy during a roundtable discussion, Governor Michelle Bowman said multiple rate hikes will still be necessary to reach a 2% inflation rate, especially given rising energy prices. Meanwhile, Vice Chair for Supervision Michael Barr noted that rates may need to remain elevated for longer, estimating that it may take a while to achieve the Fed's goals. Through the day, bond traders continued to sell off Treasury holdings, causing the 10-year bond yield to swing up 11.4 basis points to 4.685%. Meanwhile, data on Monday pointed to continued economic resiliency in the third quarter. An Institute for Supply Management report showed manufacturing improved in September. Here's where US indexes stood at the 4:00 p.m. closing bell on Monday: S&P 500 : 4,288.39, up 0.01% Dow Jones Industrial Average : 33,433.35, down 0.22% (74.15 points) Nasdaq Composite : 13,307.77, up 0.67% Here's what else happened today: Bill Ackman said interest rate hikes are likely over, but warned that their effects will still be felt . Sphere Entertainment stock jumped 17% on videos of U2's concert in the mind-blowing Las Vegas venue. Millennials are taking on the most interest rate pain, especially compared to baby boomers . The top seven tech stocks are trading at their biggest discount in six years , Goldman Sachs said. In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 2.6% to $89.04 a barrel. Brent crude , the international benchmark, dropped 1.88% to $90.46 a barrel. Gold stayed essentially flat at $1,829.53 per ounce. The yield on the 10-year Treasury surged 11.4 basis points to 4.685%. Bitcoin remained essentially flat at $27,824. Read the original article on Business Insider", "• US stocks fell as the 10-year bond yield jumped over 11 basis points, nearing 4.7%.\n• Fed officials Michael Barr and Michelle Bowman both sounded hawkish at an event.\n• An Institute for Supply Management report showed manufacturing improved in September.\nUS stocks finished mixed Monday as comments from Federal Reserve officials gave investors reason to expect restrictive policy to continue.\nWhile Fed Chairman Jerome Powell did not provide clear guidance on monetary policy during a roundtable discussion, Governor Michelle Bowman saidmultiple rate hikes will still be necessaryto reach a 2% inflation rate, especially given rising energy prices.\nMeanwhile, Vice Chair for Supervision Michael Barr noted that rates may need to remain elevated for longer, estimating that it may take a while to achieve the Fed's goals.\nThrough the day, bond traders continued to sell off Treasury holdings, causing the 10-year bond yield to swing up 11.4 basis points to 4.685%.\nMeanwhile, data on Monday pointed to continued economic resiliency in the third quarter. AnInstitute for Supply Management reportshowed manufacturing improved in September.\nHere's where US indexes stood at the 4:00 p.m. closing bell on Monday:\n• S&P 500: 4,288.39, up 0.01%\n• Dow Jones Industrial Average: 33,433.35, down 0.22% (74.15 points)\n• Nasdaq Composite: 13,307.77, up 0.67%\nHere's what else happened today:\n• Bill Ackman said interest rate hikes are likely over, but warned that theireffects will still be felt.\n• Sphere Entertainment stock jumped 17%on videos of U2's concert in the mind-blowing Las Vegas venue.\n• Millennials are taking on the mostinterest rate pain, especially compared to baby boomers.\n• The top seven tech stocks are trading at theirbiggest discount in six years, Goldman Sachs said.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 2.6% to $89.04 a barrel.Brent crude, the international benchmark, dropped 1.88% to $90.46 a barrel.\n• Goldstayed essentially flat at $1,829.53 per ounce.\n• The yield on the 10-year Treasury surged 11.4 basis points to 4.685%.\n• Bitcoinremained essentially flat at $27,824.\nRead the original article onBusiness Insider", 'By Medha Singh and Lisa Pauline Mattackal\n(Reuters) - Bitcoin? It\'s a bit old hat, say a cohort of crypto investors who are betting on blockchain technology breathing new life into traditional assets.\nAs crypto prices see-saw ahead of their next swerve, the market for "tokenization" - issuing blockchain-based digital tokens that represent assets from bonds to stocks and real estate - may finally be reaching a critical mass.\nBig finance firms like London Stock Exchange Group, WisdomTree and Mirae Asset Securities have either invested in token trading and investment platforms over the past year, or are in talks to develop them. Others like Franklin Templeton, UBS Asset Management and ABN Amro have launched tokenized versions of assets such as money market funds and green bonds.\nMore than a third of institutional investors in the U.S. and almost two-thirds of high-net-worth investors plan to invest in tokenized assets this year or next, according to two surveys of more than 300 players in total conducted by EY-Parthenon in May.\nIt\'s potential for savings on transaction costs that have big investment players circling, according to Colin Butler, global head of institutional capital at blockchain firm Polygon Labs.\n"It\'s a knife fight right now for market share and profits, so these cost-reduction ideas are very powerful," he said, adding that institutions had spend years researching tokenization and were now more comfortable launching projects.\nBackers say tokenization offers traditional finance more transparent trading, increased liquidity, plus reduced costs and settlement times, by automating processes via smart contracts - blockchain-based covenants that settle automatically.\nOn the other hand, critics point to big gaps in trading infrastructure, a lack of cohesive global regulation and still-limited traction with investors. Indeed, the actual issuance and value of tokenized traditional assets remains small.\nNETWORK EFFECT\nThe market cap of tokenized public securities is $345 million, according to Dune Analytics data, a sliver of the 1 trillion wider cryptocurrency market. Those tokens have seen 2.3% growth over last 30 days, lagging bitcoin\'s rise of about 10% over the same period.\nSome see a bigger future, though; a joint report by Northern Trust and HSBC earlier this year estimated that 5% to 10% of all assets would be digital by 2030.\nWhile the idea of tokenization has been around nearly as long as bitcoin, the fledgling market hasn\'t lived up to much of hype. Some market players now see significant advances.\n"I do think this time is different, largely because now you\'re seeing senior level buy-in from large firms," said Morgan Krupetsky, head of institutions & capital markets at Ava Labs.\nHurdles remain, with market participants also pointing to, among other things, the need for larger trading pools. Yet some are optimistic.\n"In the future people are hoping for a better network effect where more firms are adopting the same platforms so assets become more tradeable," said Doug Schwenk, CEO of Digital Asset Research.\n(Reporting by Lisa Mattackal and Medha Singh in Bengaluru; Editing by Tom Wilson and Pravin Char)', 'By Medha Singh and Lisa Pauline Mattackal (Reuters) - Bitcoin? It\'s a bit old hat, say a cohort of crypto investors who are betting on blockchain technology breathing new life into traditional assets. As crypto prices see-saw ahead of their next swerve, the market for "tokenization" - issuing blockchain-based digital tokens that represent assets from bonds to stocks and real estate - may finally be reaching a critical mass. Big finance firms like London Stock Exchange Group, WisdomTree and Mirae Asset Securities have either invested in token trading and investment platforms over the past year, or are in talks to develop them. Others like Franklin Templeton, UBS Asset Management and ABN Amro have launched tokenized versions of assets such as money market funds and green bonds. More than a third of institutional investors in the U.S. and almost two-thirds of high-net-worth investors plan to invest in tokenized assets this year or next, according to two surveys of more than 300 players in total conducted by EY-Parthenon in May. It\'s potential for savings on transaction costs that have big investment players circling, according to Colin Butler, global head of institutional capital at blockchain firm Polygon Labs. "It\'s a knife fight right now for market share and profits, so these cost-reduction ideas are very powerful," he said, adding that institutions had spend years researching tokenization and were now more comfortable launching projects. Backers say tokenization offers traditional finance more transparent trading, increased liquidity, plus reduced costs and settlement times, by automating processes via smart contracts - blockchain-based covenants that settle automatically. On the other hand, critics point to big gaps in trading infrastructure, a lack of cohesive global regulation and still-limited traction with investors. Indeed, the actual issuance and value of tokenized traditional assets remains small. Story continues NETWORK EFFECT The market cap of tokenized public securities is $345 million, according to Dune Analytics data, a sliver of the 1 trillion wider cryptocurrency market. Those tokens have seen 2.3% growth over last 30 days, lagging bitcoin\'s rise of about 10% over the same period. Some see a bigger future, though; a joint report by Northern Trust and HSBC earlier this year estimated that 5% to 10% of all assets would be digital by 2030. While the idea of tokenization has been around nearly as long as bitcoin, the fledgling market hasn\'t lived up to much of hype. Some market players now see significant advances. "I do think this time is different, largely because now you\'re seeing senior level buy-in from large firms," said Morgan Krupetsky, head of institutions & capital markets at Ava Labs. Hurdles remain, with market participants also pointing to, among other things, the need for larger trading pools. Yet some are optimistic. "In the future people are hoping for a better network effect where more firms are adopting the same platforms so assets become more tradeable," said Doug Schwenk, CEO of Digital Asset Research. (Reporting by Lisa Mattackal and Medha Singh in Bengaluru; Editing by Tom Wilson and Pravin Char)', "(Evening Standard) Water industry stocks including United Utilities and Pennon today filed five-year business plans with regulator Ofwat. An average water bill is likely to go up by £84 in 2025 and by £156 in 2030 as the industry doubles infrastructure spending. Elsewhere, survey figures continue to paint a bleak picture of activity in the UK manufacturing sector. FTSE 100 Live Monday John Lewis chair Sharon White to quit Water industry sets out spending plans House prices in 5.3% annual drop UK manufacturing decline continues 30-year gilts approach mini-Budget levels Monday 2 October 2023 16:49 , Daniel O'Boyle The yield on a 30-year gilt has risen above 5%, ending the day just short of the levels reached in the aftermath of Kwasi Kwarteng\x92s disastrous mini-Budget. The five-year gilt is yielding 5.006%, having yielded as much as 5.019% at one stage this afternoon, narrowly short of the yield reached just over a year ago. While shorter yields can be driven more by expected interest rates, long yields often reflect the market\x92s broader faith in the state of the UK economy as an investment. After the mini-Budget, it was the 30-year gilt that saw the most dramatic rises. FTSE closes down 1.3% at 7,510.72 Monday 2 October 2023 16:37 , Daniel O'Boyle The FTSE 100 closed at 7,510.72 today, almost 100 points below where it opened. The index opened the day ahead, hitting as high as 7628, but declined gently in the mid-morning before tumbling in the afternoon. It was below 7500 for parts of the day but ended up slightly ahead of that mark. 92 of the stocks on the index declined today, with insurer Beazley and energy firm SSE the biggest fallers. Mixed start for US stocks Monday 2 October 2023 16:17 , Daniel O'Boyle The S&P 500 is slightly lower so far today on Wall Street, but the Nasdaq has climbed. Big risers included Nvdia and Google\x92s parent company Alphabet. Fallers include Kellogg and Marathon Oil. Oil falls back to $91 Monday 2 October 2023 15:51 , Daniel O'Boyle Story continues The price of a barrel of Brent Crude oil has fallen to $91, a three-week low, in a relief to those fearing a recent surge in the commodity\x92s price could trigger a new wave of inflation. Oil had been hovering around $95 a barrel, and appeared to be within reach of $100 at times. The fall today brings oil to the lowest price since 11 September. Market snapshot: FTSE keeps tumbling Monday 2 October 2023 15:33 , Daniel O'Boyle The FTSE 100 is now down 100 points despite starting the day ahead, while gilt yields have also surged upwards. Take a look at our market snapshot below. Next finance boss to retire in 2024 Monday 2 October 2023 15:05 , Daniel O'Boyle Next CFO Amanda James is to retire in a little less than a year, the high-street retailer revealed today. James has been with next for 28 years, Jonathan Blanchard, currently CFO at Reiss, which is owned by Next. \x93Amanda has made a huge contribution to the Group in her 28 years with Next and has been an exceptional guardian of our finances. Our financial position today is testament to her diligence and hard work,\x94 Next said. \x93The noard is extremely grateful to Amanda for her excellent service to the group.\x94 Pendragon agrees improved deal to sell UK dealerships to Lithia Monday 2 October 2023 14:56 , Daniel O'Boyle Pendragon has agreed a new deal with US car dealership giant Lithia to sell its UK dealerships for the higher price of £397 million. Pendragon had previously agreed a £280 million deal, which would leave the business only with the dealership management tech it offers to other car sellers. However, also facing two rival bids for the entire business, Pendragon has now negotiated a bigger deal with Lithia, Pendragon shares rose 6.8% to 35.6p on the news. That is 0.2p above the value implied by the new deal. Market snapshot as FTSE 100 falls further Monday 2 October 2023 14:40 , Daniel O'Boyle The FTSE 100 has fallen further in the early afternoon. Take a look at our market snapshot. Londoners\x92 water bills to go up by £14.55 from 2025 to 2030 as Thames Water unveils £18.7 billion spending plans Monday 2 October 2023 13:35 , Michael Hunter Thames Water has revealed the cost to Londoners of the next phase of investment needed to cut the discharge of sewage into rivers and the amount of supply lost to leaking mains. Bills will go up by £14.55 a month in the 2025 to 2030 period for which it has unveiled spending plans. It would have been even more, but a slow performance in achieving improvements in the last spending period meant regulators limited the price hike by £100 million last week. Overall in the five years from 2025, Thames Water will spend £18.7 billion on service improvements, an increase of 40%. It follows a wave of public and political anger at a perceived lack of investment which led to calls for the industry to be renationalised. Raw sewage overflows, often triggered by heavy rainfall overwhelming ageing networks, ran for more than 7,000 hours into the areas rivers and streams last year. There have also been concerns over the finances of the 15-million customer utility which has a £14 billion debt burden, at a time when rising interest rates are lifting repayment costs. Its shareholders stumped up £750 million in more cash in July. Its biggest investor is Canadian pension fund OMERS and the UK\x92s Universities Superannuation Scheme. Thames\x92s chief executive, Sarah Bentley, resigned suddenly in June after less than three years in the job. Co-CEOs Cathryn Ross and Alastair Cochran said today: \x93We know our performance in some areas is not where it needs to be. That is why we are turning our business around. We have set ourselves a tough challenge. We are committed to learn from the past and adapt for the future so that we improve our service for you, your community and the world around you. You are impatient for us to make progress. We hear you and we are making progress toward delivering this ambition.\x94 Thames released its spending plans in detail (Thames Water) FCA hits firm with £6.5m fine after series of financial crime failures Monday 2 October 2023 13:10 , Daniel O'Boyle An investment company that failed to do proper checks on its customers despite being given two years to get its house in order has been fined £6.5 million by the City watchdog. The Financial Conduct Authority said that despite warning ADM Investor Services International in 2014 that its systems were not up to scratch, the company had not made sufficient improvements by 2016. ADM Investor Services is a subsidiary of an American company. It had more than 2,000 business and personal customers including asset managers and wealthy people who used it to trade grains, energy, currency and other commodities. Read more here Body scanning firm Thruvision to miss guidance after failed US customs order Monday 2 October 2023 12:45 , Daniel O'Boyle Body scan security firm Thruvision is set to miss sales guidance after US government budget challenges meant it did not receive an expected order from US border forces. Shares in the company, which is listed on London\x92s junior Aim index, dropped as much as 20% at the start of trading as a result. Thruvision said it will see a \x93material impact\x94 to its financial performance over the second half of the year, and full-year results as a whole, after it was not awarded an order from US Customs and Border Protection (CBP). Read more here Dame Sharon White\x92s John Lewis exit is no real surprise Monday 2 October 2023 12:22 , Daniel O'Boyle Today\x92s news that Dame Sharon White is to step down from leading Britain\x92s best-known partnership next year should not come as a huge shock despite John Lewis\x92s reputation for boardroom longevity. The former Treasury civil servant and Ofcom boss was an eye-catching appointment when she took over from Charlie Mayfield, who served a 13-year stint, in 2020. She arrived with no retail experience and, in truth, little has gone right since. Dame Sharon rightly identified that change was needed to modernise a business caught by the long-term trends of the pivot to online shopping and the shorter-term maelstroms of the pandemic and the cost-of-living crisis. Read more here I\x92ll chart a path to lower taxes \x96 I just can\x92t say when, Jeremy Hunt tells Tories Monday 2 October 2023 11:53 , Daniel O'Boyle Jeremy Hunt on Monday firmly kept ajar the door to pre-election tax cuts but told an increasingly fractious Tory party that there would be \x93no short cuts\x94 and landmark reforms would be needed. In his keynote speech to the Conservative annual rally in Manchester, the Chancellor was set to \x93chart a path to a lower tax economy\x94. But he earlier rebuffed growing calls from senior Tories for tax cuts to be announced now. Ahead of unveiling a series of major public policy changes, he stressed: \x93If we are prepared to walk this difficult path it is possible to bring down taxes, and we won\x92t hesitate to do that. But we can\x92t say when it will be possible.\x94 Read more here 25% of young new mortgage holders \x91have terms of at least 35 years\x92 Monday 2 October 2023 11:31 , Daniel O'Boyle A quarter of mortgage holders aged under 30 who started their loan in early 2023 have a repayment term of 35 years or more, according to analysis by a credit information company. Experian found that 25% of new homeowners aged 29 and under between January and March 2023 had a repayment term of at least 35 years. This has increased from 10% in January 2020, according to Experian\x92s analysis, which is based on new business rather than the overall stock of mortgages. Read more here Market snapshot as FTSE 100 falls into red Monday 2 October 2023 10:51 , Daniel O'Boyle The FTSE 100 has fallen into negative territory this morning, slipping back below the 7600 mark as the strong start for London shares was quickly erased. Elsewhere, Bitcoin remains sclose to its highest price in 15 months, after surging over the weekend. Take a look at our full market snapshot. Sharon White to quit John Lewis Monday 2 October 2023 10:40 , Simon English The £1 million a year boss of John Lewis surprised the business world today by saying she intended to stand down at the end of her five-year term in February 2025. That will make Dame Sharon White, 56, the shortest serving chair in the history of the partnership that also owns Waitrose, a business that has struggled to compete lately with cut price competition from internet players and from supermarket rivals such as Aldi. The John Lewis Partnership fell to a loss of £234 million last year, a plunge into the red that forced it to scrap the annual staff bonus. That was a serious blow to the 74,000 staff for whom the bonus was both a celebrated annual event and a strong boost to their incomes. That was only the second time there was no staff bonus since the scheme began in 1953. A statement today said: \x93The Chairman of the John Lewis Partnership, Sharon White, has today asked the Partnership Board to initiate the process to appoint a successor as she enters the latter stages of her five-year term.\x94 Read more here Shares in BAE Systems lifted, XP Power slides 41% Monday 2 October 2023 10:17 , Graeme Evans Shares in BAE Systems have risen 2% or 17.55p to 1015.35p after the MoD announced £4 billion worth of contracts for development work on the next generation of nuclear-powered attack submarines. The award as part of the trilateral AUKUS programme will fund significant investment at BAE\x92s Barrow-on-Furness site. Manufacturing is due to start towards the end of the decade, with the first UK submarines in service in the late 2030s. BAE shares are up by about 30% in the past year but have fallen back since peaking at 1065p in mid-September. They were given additional support today as Berenberg gave the company a \x93buy\x94 recommendation and 1170p target price. The improvement for BAE came as the FTSE 100 index rose 5.05 points to 7613.13 on relief that US politicians secured an eleventh-hour temporary funding deal that has avoided an immediate shutdown of government operations. The agreement resets the clock until 17 November, meaning the release of potentially market-moving US jobs figures will go ahead on Friday. Other strongly performing stocks in London included supermarket Tesco, which gained 2.1p to 266.3p ahead of interim results on Wednesday. The FTSE 250 index lifted 64.69 points to 18,344.11, with FirstGroup up 5.5p to 156.4p on hopes of a government funding boost for regional bus services. Shares in XP Power slumped 41% in the FTSE All-Share after the supplier of critical power control components to the electronics industry issued a profit warning. The Singapore-based company, a London-listed stock since 2000, said some customers had deferred shipments into 2024 while demand in China has been hit by economic uncertainty. Shares fell 970p to 1390p as XP said no further dividends are likely in this financial year beyond the quarterly payment due on 12 October. Peel Hunt offers banking optimism Monday 2 October 2023 10:09 , Simon English PEEL Hunt offered some hope today that the moribund market for investment bankers is starting to pick up. A lack of flotations and takeover deals has left brokers and traders scrambling for trade, with the smaller end of the market in particular struggling. Peel Hunt, which has seen its own shares crash since it floated in 2021 after a pandemic related trading boom, today said half-year revenues will be up 3.2% to £42.4 million. It said in its statement to the City: \x93Whilst exact timing of recovery cannot be predicted, there are encouraging signs that interest rate rises are bringing inflation under control, and we may be nearing the end of the current tightening cycle.\x94 Peel Hunt was valued at £280 million when it went public. Today the shares were steady at 84p giving it a market value of £109 million. The broker acted as joint bookrunner to CAB Payments recently, a £335 million raising of new equity. The firm said: \x93Whilst revenues in Investment Banking were significantly ahead of the same period last year, overall deal activity has remained subdued.\x94 Bigger players say privately that now there is more clarity on interest rates and inflation, deal flow should improve in the run up to Christmas. Bankers fear sweeping job cuts if that turns out not to be so. Bills to rise as water industry sets out five-year plans Monday 2 October 2023 09:55 , Michael Hunter The cost to househol
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-03
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $538,002,171,850
- Hash Rate: 466751379.41330886
- Transaction Count: 310664.0
- Unique Addresses: 676161.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
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- Contextual Past News Article: A New York court has dismissed a proposed class action lawsuit alleging leading decentralized crypto exchange Uniswap was responsible for causing harm to investors by allowing scam tokens to be issued and traded on the protocol. The Judge, who oversees the SEC lawsuit against Coinbase, classified ether (ETH) as a commodity in her opinion on the ruling, even as the SEC has shied away from doing so. A New York court classified popular cryptocurrencies ether (ETH) and bitcoin (BTC) as "commodities" while dismissing a proposed class action lawsuit against leading decentralized crypto exchange Uniswap in a Wednesday filing . The lawsuit – filed in April 2022 by a group of investors against Uniswap and its creator Hayden Adams – alleged the DeFi platform violated U.S. securities laws by failing to register as an exchange or broker-dealer, offering and soliciting securities on an unregistered exchange. The suit sought to hold Uniswap accountable for investors losing money to “scam tokens” that were issued and traded on the protocol. The tokens cited in the suit include Ethereum (ERC-20) tokens EthereumMax (EMAX), Bezoge (BEZOGE) and Alphawolf Finance (AWF). But Wednesday's ruling to scrap the suit before it goes to trial stated the true defendants of the case were the issuers of the "scam tokens" in question and not Uniswap. While Securities and Exchange Commission (SEC) Chief Gary Gensler has so far shied away from calling ETH a security , Judge Katherine Polk Failla of the Southern District of New York directly called it a commodity and declined to "stretch the federal securities laws to cover the conduct alleged," in the case against Uniswap. The court's opinion on its dismissal of the class action suit could influence future litigation against decentralized protocols and perhaps even those alleging violation of U.S. securities laws. Judge Polk Failla also oversees the SEC lawsuit against Coinbase. Case dismissed The decentralized nature of the Uniswap Protocol made identifying scam token issuers "unknown and unknowable," leaving no "identifiable defendant" in the case, Judge Polk Failla said in the opinion following Wednesday's order. In the absence of "actual issuers" of the "scam tokens," the plaintiffs argued that Uniswap facilitated the trades at issue by “providing a marketplace and facilities for bringing together buyers and sellers of securities" for a transaction fee, "hoping that this Court might overlook the fact that the current state of cryptocurrency regulation leaves them without recourse, at least as to the specific claims alleged in this suit." Story continues The court also shot down the plaintiffs' argument that Uniswap was like the manufacturer of a self-driving car and that the protocol and its creators caused harm by creating a system that allowed for scam tokens. "Indeed, this is less like a manufacturing defect, and more like a suit attempting to hold an application like Venmo or Zelle liable for a drug deal that used the platform to facilitate a fund transfer," the opinion read. Citing an absence of relevant regulation, the court concluded that the investors' concerns "are better addressed to Congress than to this Court." View comments...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['(Photo by Michael Nagle/Xinhua via Getty Images) US stocks plunged on Tuesday after bond yields surged to a new cycle-high not seen since 2007. Higher interest rates have upended investors appetite for risk as cash yields hit more than 5%. The 10-year US Treasury Yield jumped above 4.80%, compared to the 3.64% level it was a year ago. US stocks plunged on Tuesday as interest rates surged to a new cycle-high, hitting levels not seen since August 2007. The 10-Year US Treasury yield jumped above 4.80%, well above the 3.64% level it was at about a year ago. The surge in bond yields accelerated after weekly job openings data came in ahead of expectations, showing that the labor market remains resilient. A still-hot jobs market could push the Federal Reserve to continue with its interest rate hikes in its ongoing bid to tame inflation. Cleveland Fed President Loretta Mester said that one more rate hike might be necessary later this year, which is something that the market is currently not anticipating. "I suspect we may well need to raise the fed funds rate once more this year and then hold it there for some time as we accumulate more information on economic developments and assess the effects of the tightening in financial conditions that has already occurred," Mester said to a group of business leaders on Monday. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Tuesday: S&P 500 : 4,229.45, down 1.37% Dow Jones Industrial Average : 33,002.38, down 1.29% (-430.97 points) Nasdaq Composite : 13,059.47, down 1.87% Here\'s what else happened today: Wall Street just revealed a new potential winner and lose of the ongoing craze towards GLP-1 drugs like Ozempic, Wegovy, and Mounjaro. Orange juice prices are up 270% since the pandemic hit, as crop diseases and hurricanes hammer supply. Warren Buffett\'s Berkshire Hathaway has now cashed in $540 million of HP stock in under a month. Shares of embattled Chinese real-estate developer Evergrande surged as much as 42% in 15 minutes after the stock resumed trading on Tuesday. Higher interest rates have pummeled the safest area of the stock market: utilities, which have plunged more than 20% year-to-date. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 0.77% to $89.50 a barrel. Brent crude , the international benchmark, gained 0.43% to $91.10 a barrel. Gold fell 0.37% to $1,840.30 per ounce. The yield on the 10-year Treasury bond jumped 11 basis points to 4.80%. Bitcoin fell 0.80% to $27,287. Read the original article on Business Insider', '• US stocks plunged on Tuesday after bond yields surged to a new cycle-high not seen since 2007.\n• Higher interest rates have upended investors appetite for risk as cash yields hit more than 5%.\n• The 10-year US Treasury Yield jumped above 4.80%, compared to the 3.64% level it was a year ago.\nUS stocks plunged on Tuesday as interest rates surged to a new cycle-high, hitting levels not seen since August 2007.\nThe 10-Year US Treasury yield jumped above 4.80%, well above the 3.64% level it was at about a year ago. The surge in bond yields accelerated after weekly job openings data came in ahead of expectations, showing that the labor market remains resilient.\nA still-hot jobs market could push the Federal Reserve to continue with its interest rate hikes in its ongoing bid to tame inflation. Cleveland Fed President Loretta Mester said that one more rate hike might be necessary later this year, which is something that the market is currently not anticipating.\n"I suspect we may well need to raise the fed funds rate once more this year and then hold it there for some time as we accumulate more information on economic developments and assess the effects of the tightening in financial conditions that has already occurred," Mester said to a group of business leaders on Monday.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Tuesday:\n• S&P 500: 4,229.45, down 1.37%\n• Dow Jones Industrial Average: 33,002.38, down 1.29% (-430.97 points)\n• Nasdaq Composite: 13,059.47, down 1.87%\nHere\'s what else happened today:\n• Wall Streetjust revealed a new potential winner and lose of the ongoing craze towards GLP-1 drugslike Ozempic, Wegovy, and Mounjaro.\n• Orange juice prices are up 270% since the pandemic hit,as crop diseases and hurricanes hammer supply.\n• Warren Buffett\'s Berkshire Hathawayhas now cashed in $540 million of HP stock in under a month.\n• Shares of embattled Chinese real-estate developer Evergrande surgedas much as 42% in 15 minutes after the stock resumed trading on Tuesday.\n• Higher interest rates have pummeled the safest area of the stock market: utilities, which have plunged more than 20% year-to-date.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 0.77% to $89.50 a barrel.Brent crude, the international benchmark, gained 0.43% to $91.10 a barrel.\n• Goldfell 0.37% to $1,840.30 per ounce.\n• The yield on the 10-year Treasury bond jumped 11 basis points to 4.80%.\n• Bitcoinfell 0.80% to $27,287.\nRead the original article onBusiness Insider', 'The XRP token rose 4.42% after a federal judge denied the U.S. Securities and Exchange Commission\x92s (SEC) motion to overturn its recent loss against Ripple Labs. XRP traded at US$0.5308 at 2:45 p.m. in Hong Kong on Tuesday, according to CoinMarketCap data . See related article: HK\x92s SFC & US SEC crack the whip as Blockchain Week rocks Manila Fast Facts: In Tuesday\x92s ruling, U.S. District Judge Analisa Torres said she found no \x93substantial ground for difference of opinion\x94 about her initial findings and that she did not agree that an appeal would advance the case toward a conclusion. While the decision counts as a partial victory for Ripple, it\x92s not a final decision. The judge set another trial date for April 2024 when the SEC could still try to appeal the case. In July, Judge Torres ruled Ripple Labs\x92 programmatic sales of the XRP token to retail investors did not qualify as financial securities. The judge granted the SEC to file an interlocutory appeal until Aug. 18. Interlocutory appeals occur before all claims to both parties are resolved and are only allowed under specific circumstances. In December 2020, the SEC sued the San Francisco-based technology firm alleging that Ripple\x92s sale of XRP was an unregistered securities offering. The SEC also implicated Ripple\x92s executive chairman Chris Larsen and chief executive officer Brad Garlinghouse as co-defendants, accusing them of aiding and abetting Ripple\x92s alleged violations. See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024', 'The XRP tokenrose 4.42% after a federal judge denied the U.S. Securities and Exchange Commission’s (SEC) motion to overturn itsrecent lossagainst Ripple Labs. XRP traded at US$0.5308 at 2:45 p.m. in Hong Kong on Tuesday, according to CoinMarketCapdata.\nSee related article:HK’s SFC & US SEC crack the whip as Blockchain Week rocks Manila\n• In Tuesday’s ruling, U.S. District Judge Analisa Torres said she found no “substantial ground for difference of opinion” about her initial findings and that she did not agree that an appeal would advance the case toward a conclusion.\n• While the decision counts as a partial victory for Ripple, it’s not a final decision. The judge set another trial date for April 2024 when the SEC could still try to appeal the case.\n• In July,Judge Torresruled Ripple Labs’ programmatic sales of the XRP token to retail investors did not qualify as financial securities. The judge granted the SEC to filean interlocutory appealuntil Aug. 18. Interlocutory appeals occur before all claims to both parties are resolved and are only allowed under specific circumstances.\n• In December 2020, the SEC sued the San Francisco-based technology firm alleging that Ripple’s sale of XRP was an unregistered securities offering. The SEC also implicated Ripple’s executive chairman Chris Larsen and chief executive officer Brad Garlinghouse as co-defendants, accusing them of aiding and abetting Ripple’s alleged violations.\nSee related article:Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024', 'Millions of dollars from the first-ever tranche of funds raised by Sam Bankman-Fried were almost lost after trading firm Alameda Research initially started in 2017, author Michael Lewis claimed in his biography of Bankman-Fried “Going Infinite.” Bankman-Fried raised nearly $170 million from a set of investors ascribing to the ‘Effective Altruism’ community – a network of people who try to find the best ways to serve the community, usually by donating or funding causes. The then 26-year-old SBF intended to invest these funds in the growing and inefficient crypto markets, capturing price differences across markets and creating high-frequency trading (HFT) strategies to pick up pennies every few seconds. Most of these were losing bets from the start with Alameda losing millions of dollars in its first months. It lost over $500,000 every day throughout one such month, Lewis wrote, while some trading funds had “simply vanished” due to poor fund management. Another bot called Modelbot, which was programmed to trade nearly 500 tokens on some thirty exchanges, turned out to be yet another dud initially. It made no distinction between deeply-liquid crypto majors such as bitcoin (BTC) and ether (ETH) and very thinly-traded memecoins – sparking concerns among early Alameda staff that it could end up evaporating all of the raised money. The tides finally changed after Gary Wang and Nishad Singh (both FTX directors who have since pled guilty to fraud in the ongoing trial) joined the firm. Wang is said to have coded a quantitative trading system that finally started to make Alameda money, while Singh put together the pieces to manage the company – putting it on track to what would eventually become the crypto exchange FTX.', "In this article, we will be looking into the 24 best all-inclusive resorts in the world. If you want to skip our detailed analysis of the hospitality industry, you can go directly to the10 Best All-Inclusive Resorts in the World.\nAccording to areportby Grand View Research, the global hotel, resorts, and cruise industry was valued at $524.1 billion in 2021. The market is expected to grow at a compound annual growth rate of 17.4% over the forecast period of 2022 to 2030, and reach a valuation of $2.2 trillion by the end of the forecasted period. The incited growth can be attributed to the increased inclination toward traveling, which is driving the hotel and resort industry.\nNow that the market has gained its thriving pace back after the toll COVID-19 took on global tourism and the hotel and resort market, the resort segment of the industry is expected to grow at a compound annual growth rate of17.1% over the forecasted period.\nThe global market is dominated by North America, with a total share of 35% as of 2021, and the region is expected to grow significantly at a CAGR of 17.4%. Asia Pacific is expected to experience the fastest growth with a CAGR Of 18%, which can be attributed to increasing regional investment in the tourism market and rising disposable income in the region.\nSome of the notable companies that are leading the market includeMarriott International, Inc. (NASDAQ:MAR), Hyatt Hotels Corporation (NYSE:H), andHilton Worldwide Holdings Inc. (NYSE:HLT).\nMarriott International, Inc. (NASDAQ:MAR) is among the leading companies in the hospitality industry. On September 25, Marriott International, Inc. (NASDAQ:MAR)announcedthat the company is all set to expand its luxury hotel business in Trojena, Saudia Arabia in partnership with NEOM. The two hotels include Saudia’s first-ever W hotel and JW Marriott property.\nWhile talking about the partnership and Marriott International, Inc. (NASDAQ:MAR) business expansion, Chadi Hauch, Regional Vice President, Lodging Development, Middle East, Marriott International, said:\n“We are excited to work with NEOM to develop these two exciting properties in one of the most highly anticipated developments in the world. Hotels continue to redefine the luxury hospitality sector, and NEOM is an ideal fit with its vision centered around innovation, creativity, design, and exploration, while JW Marriott, one of our flagship brands, will bring its legacy of extraordinary hospitality, thoughtful design, and enriching experiences.”\nBoth of the hotels will have a tremendous mountain view, with a whole lot of amenities to offer to the tourists. Talking about the partnership, Philip Gullett, Executive Director of Trojena said:\n“With its central location, high elevation mountain landscape up to 2,600 meters, and natural surroundings, Trojena redefines the understanding of ultra-luxury hospitality and mountain tourism. We are delighted to have two of Marriott International’s iconic brands at the forefront of luxury travel, W Hotels and JW Marriott, join us to elevate the travel experience for discerning guests.”\nHyatt Hotels Corporation (NYSE:H) is among the top companies leading the market. On September 28, the companyannouncedthat it would be expanding its offerings to vacation rental services. Hyatt Hotels Corporation (NYSE:H) is launching Home & Hideaways by World of Hyatt, a platform for short-term vacation. It will feature homes and hideaways in the US for tourists to rent for the period of their vacation. Tourists will have additional benefits with a membership. The rental platform is expected to launch in the coming weeks.\nWhile talking about the new launch,Amy Weinberg, Senior Vice President, Brand, Loyalty & Data,Hyatt Hotels Corporation (NYSE:H), said:\n“We are committed to evolving access to the type of accommodations World of Hyatt members are seeking that go beyond our hotels – from a large family who travels together or guests looking to work from anywhere for an extended period of time. Homes & Hideaways by World of Hyatt brings a unique collection of curated homes which increases Hyatt's home offerings and expands new ways and new places where we can extend care to members.”\nHilton Worldwide Holdings Inc. (NYSE:HLT) is a leading multinational hospitality company.On September 7, Bloombergreportedthat Hilton Worldwide Holdings Inc. (NYSE:HLT) is partnering with Tesla, Inc. (NASDAQ:TSLA) to install 20,000 electrical vehicle chargers across its hotels in Canada, Mexico and the US, by the year 2025. The partnership is set to benefit both Hilton Worldwide Holdings Inc. (NYSE:HLT), making it the biggest charging platform in the hospitality market, and Tesla, Inc. (NASDAQ:TSLA) to dominate the electric vehicle charging market. Hilton Worldwide Holdings Inc. (NYSE:HLT) Chief Brand Officer, Matt Schuyler said that the installations are expected to be completed by 2025.\nNow that we have talked about the hospitality market, Let’s look into the24 best all-inclusive resorts in the world.\nOur Methodology\nAll-inclusive resorts offer a single package covering a variety of amenities including accommodation, meals, drinks, and activities for the tourists. To rank the 24 best all-inclusive resorts in the world, we identified the all-inclusive resorts from 5 sources including CNN, Forbes, The Points Guy, Travel+Leisure, and Conde Nast. We further shortlisted the luxurious 5-star all-inclusive resorts from our sources and only included the resorts with more than 500 reviews on TripAdvisor in our list. To have an objective ranking, we used a combination of ratings from TripAdvisor and Google and averaged them to produce our scores to rank the 24 best all-inclusive resorts in the world.\n24 Best All-Inclusive Resorts in the World\nInsider Monkey Score: 4.35 out of 5\nRanked 24 on our list, we have Hilton Cancun, an all-inclusive resort located in Cancun, Mexico. The resort is owned byHilton Worldwide Holdings Inc. (NYSE:HLT). The resort covers a lot of amenities in its all-inclusive package including a wide range of dining experiences, a luxurious stay, and entertainment.\nSome of the top companies involved in the hospitality industry areMarriott International, Inc. (NASDAQ:MAR),Hyatt Hotels Corporation (NYSE:H), andHilton Worldwide Holdings Inc. (NYSE:HLT).\nInsider Monkey Score: 4.4 out of 5\nThe all-inclusive resort is located in the Turks And Caicos Island. It is owned by the hotel chain, Sandals Resorts International. The all-inclusive package at Beaches Turks And Caicos Resort includes accommodation, meals, water sports, and different activities facilitating people of all ages.\nInsider Monkey Score: 4.55 out of 5\nThe historic and luxurious resort is located in Chatham, Massachusetts, and has been operating since 1914. It offers a lot of amenities including a fitness center, saunas, and various other activities engaging adults as well as kids. It is ranked 22 on our list of 24 best all-inclusive resorts in the world.\nInsider Monkey Score: 4.6 out of 5\nThe all-inclusive resort is located within a tropical forest in Mexico. The 5-star luxurious resort has 4 restaurants, 3 bars, a cafe, and 5 pools. It is ranked 21 among the 24 best all-inclusive resorts in the world.\nInsider Monkey Score: 4.6 out of 5\nRanked 20 on our list, Alila Ventana Big Sur is located in California, United States. The all-inclusive resort offers a variety of perks including wine and cheese bars, yoga, and Tai Chi classes.\nInsider Monkey Score: 4.6 out of 5\nRixos Premium Belek is located in Antalya, Turkey. The resort offers a lot of perks and entertainment options to its customers including 7 restaurants, 8 bars, 5 pools, a private beach, a sports complex, and a nightclub among others.\nInsider Monkey Score: 4.7 out of 5\nThe all-inclusive resort with a beachfront is located in Montego Bay in Jamaica.Sandals Royal Caribbean isamong the best spots for honeymooners. It includes amenities like complimentary meals, 5 bars, 8 restaurants, and outdoor pools among others. It is ranked at 18 on our list of the 24 best all-inclusive resorts in the world.\nInsider Monkey Score: 4.8 out of 5\nRanked 17 on our list, the all-inclusive resort is located in Maroma Beach, Mexico. It features a glass floor, pools, and outdoor showers and has direct access to the sea.\nInsider Monkey Score:\xa0 4.8 out of 5\nThe 5-star resort is located in Cap Cana, Dominican Republic. The resort is owned by Hyatt Hotels Corporation(NYSE:H). It is ranked 16 among the 24 best all-inclusive resorts in the world.\nInsider Monkey Score:\xa0 4.85 out of 5\nAtelier Playa Mujeres is an all-inclusive resort located alongside the Caribbean. The resort offers a beachfront experience for tourists. It is inspired by Mexican art and is among the best all-inclusive resorts.\nInsider Monkey Score:\xa0 4.85 out of 5\nSecrets Maroma Beach Riviera Cancun is located in Maroma Beach, Mexico. The beach and the mesmerizing sceneries of the resort attract tourists. It offers amenities including 8 restaurants, a bar, and 6 cafes. It is ranked 14 on our list.\nInsider Monkey Score:\xa0 4.85 out of 5\nIkos Aria is located on the southwest coast of\xa0 Kós island in Greece. The resort includes a private beach that features all sorts of beach sports, beachside drinks, and scuba diving classes. It is among the top 13 best all-inclusive resorts.\nInsider Monkey Score:\xa0 4.85 out of 5\nLocated in Belek, Turkey, Voyage Belek Golf & Spa is an all-inclusive resort. The resort is best recognized for its private Mediterranean beach. It offers a remarkable dining experience and features 8 restaurants.\nInsider Monkey Score:\xa0 4.85 out of 5\nIkos Dassia is a luxury 5-star resort located in Corfu, Greece. It offers travelers a private beach experience. Amenities include 3 restaurants, 3 bars, gym, spa, and pools. It is ranked 11 on our list.\nInvestors looking to invest in the hospitality industry can look for prominent stocks includingMarriott International, Inc. (NASDAQ:MAR),Hyatt Hotels Corporation (NYSE:H), andHilton Worldwide Holdings Inc. (NYSE:HLT).\nClick to continue reading and see the10 Best All-Inclusive Resorts in the World.\nSuggested articles:\n• America’s Top 20 States for Business in 2023\n• 15 Best Places to Retire in Japan\n• 10 Best Bitcoin and Blockchain Stocks to Buy Now\nDisclosure. None.25 Best All-Inclusive Resorts in the Worldis originally published on Insider Monkey.", "In this article, we will be looking into the 24 b est all-inclusive resorts in the world. If you want to skip our detailed analysis of the hospitality industry, you can go directly to the 10 Best All-Inclusive Resorts in the World . Hotels and Resorts Industry: A Market Analysis According to a report by Grand View Research, the global hotel, resorts, and cruise industry was valued at $524.1 billion in 2021. The market is expected to grow at a compound annual growth rate of 17.4% over the forecast period of 2022 to 2030, and reach a valuation of $2.2 trillion by the end of the forecasted period. The incited growth can be attributed to the increased inclination toward traveling, which is driving the hotel and resort industry. Now that the market has gained its thriving pace back after the toll COVID-19 took on global tourism and the hotel and resort market, the resort segment of the industry is expected to grow at a compound annual growth rate of 17.1% over the forecasted period. The global market is dominated by North America, with a total share of 35% as of 2021, and the region is expected to grow significantly at a CAGR of 17.4%. Asia Pacific is expected to experience the fastest growth with a CAGR Of 18%, which can be attributed to increasing regional investment in the tourism market and rising disposable income in the region. Major Players in the Industry Some of the notable companies that are leading the market include Marriott International, Inc. (NASDAQ: MAR ) , Hyatt Hotels Corporation (NYSE: H ), and Hilton Worldwide Holdings Inc. (NYSE: HLT ). Marriott International, Inc. (NASDAQ:MAR) is among the leading companies in the hospitality industry. On September 25, Marriott International, Inc. (NASDAQ:MAR) announced that the company is all set to expand its luxury hotel business in Trojena, Saudia Arabia in partnership with NEOM. The two hotels include Saudia’s first-ever W hotel and JW Marriott property. While talking about the partnership and Marriott International, Inc. (NASDAQ:MAR) business expansion, Chadi Hauch, Regional Vice President, Lodging Development, Middle East, Marriott International, said: “We are excited to work with NEOM to develop these two exciting properties in one of the most highly anticipated developments in the world. Hotels continue to redefine the luxury hospitality sector, and NEOM is an ideal fit with its vision centered around innovation, creativity, design, and exploration, while JW Marriott, one of our flagship brands, will bring its legacy of extraordinary hospitality, thoughtful design, and enriching experiences.” Story continues Both of the hotels will have a tremendous mountain view, with a whole lot of amenities to offer to the tourists. Talking about the partnership, Philip Gullett, Executive Director of Trojena said: “With its central location, high elevation mountain landscape up to 2,600 meters, and natural surroundings, Trojena redefines the understanding of ultra-luxury hospitality and mountain tourism. We are delighted to have two of Marriott International’s iconic brands at the forefront of luxury travel, W Hotels and JW Marriott, join us to elevate the travel experience for discerning guests.” Hyatt Hotels Corporation (NYSE:H) is among the top companies leading the market. On September 28, the company announced that it would be expanding its offerings to vacation rental services. Hyatt Hotels Corporation (NYSE:H) is launching Home & Hideaways by World of Hyatt, a platform for short-term vacation. It will feature homes and hideaways in the US for tourists to rent for the period of their vacation. Tourists will have additional benefits with a membership. The rental platform is expected to launch in the coming weeks. While talking about the new launch, Amy Weinberg, Senior Vice President, Brand, Loyalty & Data, Hyatt Hotels Corporation (NYSE:H), said: “We are committed to evolving access to the type of accommodations World of Hyatt members are seeking that go beyond our hotels – from a large family who travels together or guests looking to work from anywhere for an extended period of time. Homes & Hideaways by World of Hyatt brings a unique collection of curated homes which increases Hyatt's home offerings and expands new ways and new places where we can extend care to members.” Hilton Worldwide Holdings Inc. (NYSE:HLT) is a leading multinational hospitality company. On September 7, Bloomberg reported that Hilton Worldwide Holdings Inc. (NYSE:HLT) is partnering with Tesla, Inc. (NASDAQ: TSLA ) to install 20,000 electrical vehicle chargers across its hotels in Canada, Mexico and the US, by the year 2025. The partnership is set to benefit both Hilton Worldwide Holdings Inc. (NYSE:HLT), making it the biggest charging platform in the hospitality market, and Tesla, Inc. (NASDAQ:TSLA) to dominate the electric vehicle charging market. Hilton Worldwide Holdings Inc. (NYSE:HLT) Chief Brand Officer, Matt Schuyler said that the installations are expected to be completed by 2025. Now that we have talked about the hospitality market, Let’s look into the 24 best all-inclusive resorts in the world. Our Methodology All-inclusive resorts offer a single package covering a variety of amenities including accommodation, meals, drinks, and activities for the tourists. To rank the 24 best all-inclusive resorts in the world, we identified the all-inclusive resorts from 5 sources including CNN, Forbes, The Points Guy, Travel+Leisure, and Conde Nast. We further shortlisted the luxurious 5-star all-inclusive resorts from our sources and only included the resorts with more than 500 reviews on TripAdvisor in our list. To have an objective ranking, we used a combination of ratings from TripAdvisor and Google and averaged them to produce our scores to rank the 24 best all-inclusive resorts in the world. 24 Best All-Inclusive Resorts in the World 24 Best All-Inclusive Resorts in the World 24 best All-Inclusive Resorts in the World 24. Hilton Cancun, Mexico Insider Monkey Score: 4.35 out of 5 Ranked 24 on our list, we have Hilton Cancun, an all-inclusive resort located in Cancun, Mexico. The resort is owned by Hilton Worldwide Holdings Inc. (NYSE:HLT). The resort covers a lot of amenities in its all-inclusive package including a wide range of dining experiences, a luxurious stay, and entertainment. Some of the top companies involved in the hospitality industry are Marriott International, Inc. (NASDAQ:MAR), Hyatt Hotels Corporation (NYSE:H), and Hilton Worldwide Holdings Inc. (NYSE:HLT). 23. Beaches Turks and Caicos Resort Insider Monkey Score: 4.4 out of 5 The all-inclusive resort is located in the Turks And Caicos Island. It is owned by the hotel chain, Sandals Resorts International. The all-inclusive package at Beaches Turks And Caicos Resort includes accommodation, meals, water sports, and different activities facilitating people of all ages. 22. Chatham Bars Inn, Massachusetts Insider Monkey Score: 4.55 out of 5 The historic and luxurious resort is located in Chatham, Massachusetts, and has been operating since 1914. It offers a lot of amenities including a fitness center, saunas, and various other activities engaging adults as well as kids. It is ranked 22 on our list of 24 best all-inclusive resorts in the world. 21. Fairmont Mayakoba, Mexico Insider Monkey Score: 4.6 out of 5 The all-inclusive resort is located within a tropical forest in Mexico. The 5-star luxurious resort has 4 restaurants, 3 bars, a cafe, and 5 pools. It is ranked 21 among the 24 best all-inclusive resorts in the world. 20. Alila Ventana Big Sur, California Insider Monkey Score: 4.6 out of 5 Ranked 20 on our list, Alila Ventana Big Sur is located in California, United States. The all-inclusive resort offers a variety of perks including wine and cheese bars, yoga, and Tai Chi classes. 19. Rixos Premium Belek – The Land of Legends Access in Belek, Turkey Insider Monkey Score: 4.6 out of 5 Rixos Premium Belek is located in Antalya, Turkey. The resort offers a lot of perks and entertainment options to its customers including 7 restaurants, 8 bars, 5 pools, a private beach, a sports complex, and a nightclub among others. 18. Sandals Royal Caribbean, Montego Bay, Jamaica Insider Monkey Score: 4.7 out of 5 The all-inclusive resort with a beachfront is located in Montego Bay in Jamaica. Sandals Royal Caribbean is among the best spots for honeymooners. It includes amenities like complimentary meals, 5 bars, 8 restaurants, and outdoor pools among others. It is ranked at 18 on our list of the 24 best all-inclusive resorts in the world. 17. El Dorado Maroma, Mexico Insider Monkey Score: 4.8 out of 5 Ranked 17 on our list, the all-inclusive resort is located in Maroma Beach, Mexico. It features a glass floor, pools, and outdoor showers and has direct access to the sea. 16. Hyatt Ziva Cap Cana, Dominican Republic Insider Monkey Score:\xa0 4.8 out of 5 The 5-star resort is located in Cap Cana, Dominican Republic. The resort is owned by Hyatt Hotels Corporation(NYSE:H). It is ranked 16 among the 24 best all-inclusive resorts in the world. 15. Atelier Playa Mujeres Playa Mujeres, Mexico Insider Monkey Score:\xa0 4.85 out of 5 Atelier Playa Mujeres is an all-inclusive resort located alongside the Caribbean. The resort offers a beachfront experience for tourists. It is inspired by Mexican art and is among the best all-inclusive resorts. 14. Secrets Maroma Beach Riviera Cancun, Mexico Insider Monkey Score:\xa0 4.85 out of 5 Secrets Maroma Beach Riviera Cancun is located in Maroma Beach, Mexico. The beach and the mesmerizing sceneries of the resort attract tourists. It offers amenities including 8 restaurants, a bar, and 6 cafes. It is ranked 14 on our list. 13. Ikos Aria, Greece Insider Monkey Score:\xa0 4.85 out of 5 Ikos Aria is located on the southwest coast of\xa0 Kós island in Greece. The resort includes a private beach that features all sorts of beach sports, beachside drinks, and scuba diving classes. It is among the top 13 best all-inclusive resorts. 12. Voyage Belek Golf & Spa, Turkey Insider Monkey Score:\xa0 4.85 out of 5 Located in Belek, Turkey, Voyage Belek Golf & Spa is an all-inclusive resort. The resort is best recognized for its private Mediterranean beach. It offers a remarkable dining experience and features 8 restaurants. 11. Ikos Dassia, Greece Insider Monkey Score:\xa0 4.85 out of 5 Ikos Dassia is a luxury 5-star resort located in Corfu, Greece. It offers travelers a private beach experience. Amenities include 3 restaurants, 3 bars, gym, spa, and pools. It is ranked 11 on our list. Investors looking to invest in the hospitality industry can look for prominent stocks including Marriott International, Inc. (NASDAQ:MAR), Hyatt Hotels Corporation (NYSE:H), and Hilton Worldwide Holdings Inc. (NYSE:HLT). Click to continue reading and see the 10 Best All-Inclusive Resorts in the World . Suggested articles: America’s Top 20 States for Business in 2023 15 Best Places to Retire in Japan 10 Best Bitcoin and Blockchain Stocks to Buy Now Disclosure. None. 25 Best All-Inclusive Resorts in the World is originally published on Insider Monkey. View comments", 'LAS VEGAS, October 04, 2023 --( BUSINESS WIRE )--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), today shared a letter from its Executive Chairman to its stockholders. Dear Stockholders, As we begin the final quarter of 2023, we would like to take a moment to reflect, acknowledge, and share some proactive communication with you. Our journey, from the very first day to where we stand today, symbolizes relentless determination, foresight, and an unwavering commitment. Every milestone achieved and every hurdle crossed is a story of our collective endeavor. However, there is an urgent matter we wish to address. We have observed our declining stock price and do not believe that it truly reflects the intrinsic value and potential of Ault Alliance. Such a divergence between our operational performance and stock valuation stems from various market perceptions and factors beyond our control. But let me be clear: Our strategic decisions, current business models, and future growth prospects are solidly in place. These fundamentals should drive our valuation. The substantial support we have received from Ault & Company, Inc., a related party, as evidenced by the recently announced advancement and assumption of $17.5 million towards the previously announced agreement to fund up to $40 million into the Company, underscores the belief in our potential. Let’s look at some tangible achievements. Our diversified portfolio is not just broad but deep, aimed at sectors with tremendous growth opportunities. This includes our involvement in current technologies, like data centers, and forward-looking sectors like Bitcoin mining and lending. We have made significant investments in companies like Eco Pack Technologies Ltd. and Sentinum, Inc., which reflect our conviction in industries that are defining the future and we anticipate are strategically positioned for substantial growth. We are also extremely pleased with the operations of Circle 8 Crane Services, LLC as management at this subsidiary continues to generate growth and hit their internal goals. The projected sale of both our Midwest hotel portfolio and the St. Petersburg development site will allow the company to significantly reduce its debt load and streamline capital allocation going forward. Story continues Consider our history, in which we had a modest sales figure of under $8 million in 2016, and we are now projecting revenue beyond $200 million in 2023. And based on our current plans and trajectory, we expect this figure to see further growth over the next three years. This is more than just growth; it is a validation of our strategic foresight, the team’s commitment, and operational excellence. There is a significant gap between the Company’s true value and its current market representation. We continue to execute our business plan. We have made significant steps forward, and believe the best is yet to come. Your belief fuels our ambition, and we pledge to continuously strive for realizing the true value of your investment. In these dynamic times, while we navigate challenges and seize opportunities, your trust is our beacon. Together, let us look ahead to a future that truly reflects the strength, potential and value of Ault Alliance. With sincere appreciation, Milton "Todd" Ault, III Executive Chairman Ault Alliance, Inc. P.S.: A reminder that Ault Alliance\'s revenue projections can experience variability due to factors such as Bitcoin market price fluctuations and mining challenges. Our trading activities, encompassing both realized and unrealized gains or losses, can cause notable volatility in our reported earnings. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov/. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com/ . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com/. View source version on businesswire.com: https://www.businesswire.com/news/home/20231004990007/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235', 'LAS VEGAS, October 04, 2023 --( BUSINESS WIRE )--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), today shared a letter from its Executive Chairman to its stockholders. Dear Stockholders, As we begin the final quarter of 2023, we would like to take a moment to reflect, acknowledge, and share some proactive communication with you. Our journey, from the very first day to where we stand today, symbolizes relentless determination, foresight, and an unwavering commitment. Every milestone achieved and every hurdle crossed is a story of our collective endeavor. However, there is an urgent matter we wish to address. We have observed our declining stock price and do not believe that it truly reflects the intrinsic value and potential of Ault Alliance. Such a divergence between our operational performance and stock valuation stems from various market perceptions and factors beyond our control. But let me be clear: Our strategic decisions, current business models, and future growth prospects are solidly in place. These fundamentals should drive our valuation. The substantial support we have received from Ault & Company, Inc., a related party, as evidenced by the recently announced advancement and assumption of $17.5 million towards the previously announced agreement to fund up to $40 million into the Company, underscores the belief in our potential. Let’s look at some tangible achievements. Our diversified portfolio is not just broad but deep, aimed at sectors with tremendous growth opportunities. This includes our involvement in current technologies, like data centers, and forward-looking sectors like Bitcoin mining and lending. We have made significant investments in companies like Eco Pack Technologies Ltd. and Sentinum, Inc., which reflect our conviction in industries that are defining the future and we anticipate are strategically positioned for substantial growth. We are also extremely pleased with the operations of Circle 8 Crane Services, LLC as management at this subsidiary continues to generate growth and hit their internal goals. The projected sale of both our Midwest hotel portfolio and the St. Petersburg development site will allow the company to significantly reduce its debt load and streamline capital allocation going forward. Story continues Consider our history, in which we had a modest sales figure of under $8 million in 2016, and we are now projecting revenue beyond $200 million in 2023. And based on our current plans and trajectory, we expect this figure to see further growth over the next three years. This is more than just growth; it is a validation of our strategic foresight, the team’s commitment, and operational excellence. There is a significant gap between the Company’s true value and its current market representation. We continue to execute our business plan. We have made significant steps forward, and believe the best is yet to come. Your belief fuels our ambition, and we pledge to continuously strive for realizing the true value of your investment. In these dynamic times, while we navigate challenges and seize opportunities, your trust is our beacon. Together, let us look ahead to a future that truly reflects the strength, potential and value of Ault Alliance. With sincere appreciation, Milton "Todd" Ault, III Executive Chairman Ault Alliance, Inc. P.S.: A reminder that Ault Alliance\'s revenue projections can experience variability due to factors such as Bitcoin market price fluctuations and mining challenges. Our trading activities, encompassing both realized and unrealized gains or losses, can cause notable volatility in our reported earnings. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov/. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com/ . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com/. View source version on businesswire.com: https://www.businesswire.com/news/home/20231004990007/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235', 'ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” second quarter 2023 investor letter. A copy of the same can bedownloaded here. The strategy underperformed its benchmark, the Russell 3000 Index, in the quarter. \xa0The strategy gained seven out of 10 sectors in which it invested during the quarter, on an absolute basis. IT and industrials sectors were the leading contributors while consumer discretionary, health care and utilities sectors detracted. Overall stock selection detracted on a relative basis. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.\nClearBridge Sustainability Leaders Strategy highlighted stocks like NIKE, Inc. (NYSE:NKE) in the second quarter 2023 investor letter. Headquartered in Beaverton, Oregon, NIKE, Inc. (NYSE:NKE) designs and develops athletic footwear, apparel, equipment, and accessories. On October 3, 2023, NIKE, Inc. (NYSE:NKE) stock closed at $95.09 per share. One-month return of NIKE, Inc. (NYSE:NKE) was -5.08%, and its shares gained 4.38% of their value over the last 52 weeks. NIKE, Inc. (NYSE:NKE) has a market capitalization of $145.485 billion.\nClearBridge Sustainability Leaders Strategy made the following comment about NIKE, Inc. (NYSE:NKE) in its Q2 2023 investor letter:\n"Athletic footwear and apparel companyNIKE, Inc.(NYSE:NKE), also a beneficiary of pandemic pull-forward demand, lagged primarily around fears about consumer resilience and potential pressure on Nike’s business in a macroeconomic slowdown."\nA close-up of a hand holding a casual sneaker with the Nike logo on it. Editorial photo for a financial news article. 8k. --ar 16:9\nNIKE, Inc. (NYSE:NKE) is not on our list of30 Most Popular Stocks Among Hedge Funds. As per our database, 70 hedge fund portfolios held NIKE, Inc. (NYSE:NKE) at the end of second quarter which was 81 in the previous quarter.\nWe discussed NIKE, Inc. (NYSE:NKE) inanother articleand shared list of George Soros Stocks that are on sale. In addition, please check out ourhedge fund investor letters Q2 2023page for more investor letters from hedge funds and other leading investors.\nSuggested Articles:\n• 17 Biggest Mistakes New Business Owners Make\n• 24 States Where Sports Betting Is Legal\n• 10 Best Bitcoin and Blockchain Stocks To Buy Now\nDisclosure: None. This article is originally published atInsider Monkey.', 'ClearBridge Investments , an investment management company, released its “ClearBridge Sustainability Leaders Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here . The strategy underperformed its benchmark, the Russell 3000 Index, in the quarter. \xa0The strategy gained seven out of 10 sectors in which it invested during the quarter, on an absolute basis. IT and industrials sectors were the leading contributors while consumer discretionary, health care and utilities sectors detracted. Overall stock selection detracted on a relative basis. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023. ClearBridge Sustainability Leaders Strategy highlighted stocks like NIKE, Inc. (NYSE: NKE ) in the second quarter 2023 investor letter. Headquartered in Beaverton, Oregon, NIKE, Inc. (NYSE:NKE) designs and develops athletic footwear, apparel, equipment, and accessories. On October 3, 2023, NIKE, Inc. (NYSE:NKE) stock closed at $95.09 per share. One-month return of NIKE, Inc. (NYSE:NKE) was -5.08%, and its shares gained 4.38% of their value over the last 52 weeks. NIKE, Inc. (NYSE:NKE) has a market capitalization of $145.485 billion. ClearBridge Sustainability Leaders Strategy made the following comment about NIKE, Inc. (NYSE:NKE) in its Q2 2023 investor letter: "Athletic footwear and apparel company NIKE, Inc. (NYSE:NKE), also a beneficiary of pandemic pull-forward demand, lagged primarily around fears about consumer resilience and potential pressure on Nike’s business in a macroeconomic slowdown." A close-up of a hand holding a casual sneaker with the Nike logo on it. Editorial photo for a financial news article. 8k. --ar 16:9 NIKE, Inc. (NYSE:NKE) is not on our list of 30 Most Popular Stocks Among Hedge Funds . As per our database, 70 hedge fund portfolios held NIKE, Inc. (NYSE:NKE) at the end of second quarter which was 81 in the previous quarter. Story continues We discussed NIKE, Inc. (NYSE:NKE) in another article and shared list of George Soros Stocks that are on sale. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles: 17 Biggest Mistakes New Business Owners Make 24 States Where Sports Betting Is Legal 10 Best Bitcoin and Blockchain Stocks To Buy Now Disclosure: None. This article is originally published at Insider Monkey .', 'The year 2023 has been great for cryptocurrencies.Valkyrie Bitcoin Miners ETFWGMI, which provides exposure to the bitcoin mining industry, has gained about 120% so far, becoming the top-performing ETF of the first nine months of 2023.\nAnd now, as many as nine ether ETFs hit the market this week from firms like firms ProShares, VanEck, Bitwise, Valkyrie, Kelly, and Volshares. Ether is already the second-most popular crypto currency
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-04
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $535,351,228,388
- Hash Rate: 373280259.4846018
- Transaction Count: 287430.0
- Unique Addresses: 638418.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.49
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin prices fell on Wednesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Notably, BNB, the native token of the world’s largest cryptocurrency exchange Binance, added to its weekly drop after the company announced the closing of its cryptocurrency payment service Binance Connect. Investor concerns remained on edge following Fitch Ratings’ downgradewarningon Tuesday for dozens of major U.S. banks including JPMorgan.
See related article:TradFi has its eyes on crypto, and here’s the real reason why: Opinion
Bitcoin dropped 0.69% to US$29,160 in the 24 hours to 4 p.m. in Hong Kong, bringing its weekly losses to 2.18%, according to CoinMarketCapdata. Bitcoin has been trading below US$30,000 since last Wednesday. The world’s biggest cryptocurrency’s trading volume gained 8.71%, but its market capitalization lost 0.84% to US$567.23 billion in the past 24 hours.
“Bitcoin’s earlier reputation as a highly volatile asset attracted traders who thrived on rapid price swings. With the decrease in volatility, such opportunities for substantial short-term gains have become less common,” said Nigel Green, founder and chief executive officer of financial management group deVere, in an emailed statement on Monday.
“For investors who thrive on volatility, the calmer waters of the Bitcoin market can feel limiting. They must adapt their strategies to the new normal, focusing on longer-term trends and holding positions for extended periods,” Green added.
BNB, the native token of the largest crypto exchange Binance, fell 1.92% to US$234.66, logging a 4.17% weekly decline. Binancesaidit will shut down its cryptocurrency payment service Binance Connect on Wednesday, due to “changing market and user needs.”
Binancefileda protective court order against the U.S. Securities and Exchange Commission (SEC) on Monday, seeking to restrict the agency’s “overbroad” requests for information. The SECsuedBinance, its U.S. platform, and Chief Executive Officer Changpeng Zhao in June for alleged breach of securities laws.
The total crypto market capitalization fell 1.31% to US$1.16 trillion, while market volume climbed 22.48% to US$32.08 billion.
The indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.
TheForkast 500 NFTindex fell 0.14% to 2,471.55 over the 24 hours leading up to 7.10 p.m. in Hong Kong, but posted gains of 0.23% on the week.
At the same time, Forkast’s Ethereum NFT and the Polygon NFT indexes gained, while the index measuring Solana NFTs declined.
Total NFT sales volume dropped 2.16% in the past 24 hours to US$15.79 million, according to data fromCryptoSlam. Total NFT transactions also dropped 9.78% to US$565,906.
NFT sales volume on Ethereum dropped 7.97% to US$9.14 million, although the network toppedCryptoSlam’ssales volume rankings.
Among collections, Ethereum-based DeGods topped sales rankings with US$1.23 million, although it was 37.85% lower than the previous day.
“Clearly collectors have lost some faith in the DeGods team after fumbling the DeGods Season III art release, and theannouncementof moving y00ts again from Polygon to Ethereum,” said Yehudah Petscher, NFT Strategist at Forkast Labs.
Mythos-based DMarket ranked second, rising 8.33% to US$1.01 million, while Polygon’s DraftKings ranked third after its sales volumes climbed 52.19% in the past 24 hours to US$771,722.
Most Asian equity markets were down on Wednesday. China’sShenzhen Component, Hong Kong’sHang Seng, Japan’sNikkei, and South Korea’sKospidropped at the end of trading hours, following lackluster economic data coming out of China.
The country’s economic activitydatafor July — retail sales, industrial output and investment — all came in lower than expected, raising concerns about the health of the world’s second-largest economy. The People’s Bank of China on Tuesday unexpectedlycutloan rates by 15 basis points to 2.5%, the steepest cut in three years.
“China’s cyclical soft patch keeps deepening. Data from a wide range of indicators, including credit growth, investment in capital markets and properties, industrial production, retail sales, construction, exports, and manufacturing and agricultural product prices reveal an overall loss of economic momentum,” Singapore-based DBS banksaidin a research report on Monday.
“In addition to lackluster economic data, a long-simmering threat to economic and financial stability, the intersection of weak property market prices and a mountain of debt in the sector, is causing considerable concern,” DBS added.
U.S. stock futures dropped as of 8.30 p.m. in Hong Kong with the Dow Jones Industrial Average futures, the S&P 500 futures, and the Nasdaq 100 futures all in the red.
Ratings agency Fitch haswarnedof a downgrade for dozens of major U.S. banks including JPMorgan. The agency alsodowngradedthe United States’ long term credit rating from AAA to AA+ earlier this month citing long-term macroeconomic concerns.
Meanwhile, annual headline inflation in the United Kingdomdroppedsharply to 6.8% in July from 7.9% in June, the lowest level since February 2022 and matching market expectations. However, core inflation, which excludes volatile energy, food, alcohol and tobacco prices, remained unchanged from June at 6.9%, and slightly above expectations of 6.8%.
“The plan that we are executing on is clearly working, but we need to keep with that plan, keep making responsible decisions when it comes to public finances, and we need to make sure that fiscal policy is aligned with monetary policy at the Bank of England,” Gareth Davies, exchequer secretary at the U.K. Treasury,told CNBCon Wednesday.
European bourses were mixed on Wednesday, with the benchmark STOXX 600 falling while Germany’s DAX 40 strengthened during afternoon trading hours in Europe....
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['• US stocks moved higher on Wednesday, while bond yields declined Tuesday\'s highs.\n• ADP reported private payrolls climbed 89,000 in September, below forecasts of 160,000.\n• The 10-year Treasury pulled back from its highest mark since 2007, hovering around 4.72%.\nUS stocks moved higher on Wednesday, as the 10-year US Treasury yield retreated slightly after hitting 16-year highs.\nThe Dow Jones Industrial Average jumped more than 100 points and the Nasdaq Composite rose more than 1% after private payroll data pointed to a weakening labor market, a sign traders hoped would take some pressure off the Federal Reserve to keep tightening monetary policy.\nADP reported before opening bell that private payrolls grew by 89,000 in September, well below the Dow Jones estimate of 160,000, and down from the revised reading of 180,000 in August.\nThe data comes ahead of Friday\'s nonfarm payroll report for September, which will be a closely watched gauge for investors to determine the next likely move for the Fed.\n"We don\'t normally give the ADP report much credence, but it could be a harbinger of a weaker than expected employment report," Dan North, senior economist at Allianz Trade North America said in a note Wednesday.\nOil prices also plungedas fears over demand destruction were aired by JPMorgan analysts and data showed weakening demand for gasoline in the US.\nWall Street remains split onwhat comes next for equitiesafter back-t0-back tough trading months.\n"October can seem as difficult as September, but historically it transitions into a more hospitable market environment," LPL chief global strategist Quincy Krosby told Insider earlier in the day. "The intense sell off has pushed the market into a deeper oversold condition that also makes valuations more attractive."\nHere\'s where US indexes stood as the market closed at 4:00 p.m. on Wednesday:\n• S&P 500:4,263.68, up 0.81%\n• Dow Jones Industrial Average:33,129.55, up 0.39% (+127.17 points)\n• Nasdaq Composite:13,236.01, up 1.35%\nHere\'s what else is going on:\n• JPMorgan saidthe stock market carnage isn\'t over yet.\n• Kevin O\'Leary laughed off the ideathat institutional investors want bitcoin.\n• Applications for home loans plunged to thelowest mark since 1996.\n• Bill Gross said he would avoid bonds and "clearly overvalued" stockseven after massive sell-off.\n• The rapid rise in Treasury yields has been atriple whammyfor stocks, bonds, and the broader economy.\n• Stocks may begearing up for a relief rallyafter key signals hit oversold extremes.\n• The bond market is suffering from "Old Testament capitulation," according to a market veteran.\nIn commodities, bonds, and crypto:\n• Oil prices plunged, withWest Texas Intermediatedown 5% to $84.75 a barrel.Brent crude, the international benchmark, moved lower 5.11% to $86.27 a barrel.\n• Goldedged lower 0.15% to $1,838.60 per ounce.\n• The10-year Treasury yielddipped seven points to hover at 4.72%.\n• Bitcoinclimbed 1.67% to $27,773.\nRead the original article onBusiness Insider', 'A trader works during the Fed rate announcement on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2019. Reuters/Brendan McDermid US stocks moved higher on Wednesday, while bond yields declined Tuesday\'s highs. ADP reported private payrolls climbed 89,000 in September, below forecasts of 160,000. The 10-year Treasury pulled back from its highest mark since 2007, hovering around 4.72%. US stocks moved higher on Wednesday, as the 10-year US Treasury yield retreated slightly after hitting 16-year highs. The Dow Jones Industrial Average jumped more than 100 points and the Nasdaq Composite rose more than 1% after private payroll data pointed to a weakening labor market, a sign traders hoped would take some pressure off the Federal Reserve to keep tightening monetary policy. ADP reported before opening bell that private payrolls grew by 89,000 in September, well below the Dow Jones estimate of 160,000, and down from the revised reading of 180,000 in August. The data comes ahead of Friday\'s nonfarm payroll report for September, which will be a closely watched gauge for investors to determine the next likely move for the Fed. "We don\'t normally give the ADP report much credence, but it could be a harbinger of a weaker than expected employment report," Dan North, senior economist at Allianz Trade North America said in a note Wednesday. Oil prices also plunged as fears over demand destruction were aired by JPMorgan analysts and data showed weakening demand for gasoline in the US. Wall Street remains split on what comes next for equities after back-t0-back tough trading months. "October can seem as difficult as September, but historically it transitions into a more hospitable market environment," LPL chief global strategist Quincy Krosby told Insider earlier in the day. "The intense sell off has pushed the market into a deeper oversold condition that also makes valuations more attractive." Here\'s where US indexes stood as the market closed at 4:00 p.m. on Wednesday: S&P 500 : 4,263.68, up 0.81% Dow Jones Industrial Average : 33,129.55, up 0.39% (+127.17 points) Story continues Nasdaq Composite : 13,236.01, up 1.35% Here\'s what else is going on: JPMorgan said the stock market carnage isn\'t over yet . Kevin O\'Leary laughed off the idea that institutional investors want bitcoin . Applications for home loans plunged to the lowest mark since 1996 . Bill Gross said he would avoid bonds and "clearly overvalued" stocks even after massive sell-off . The rapid rise in Treasury yields has been a triple whammy for stocks, bonds, and the broader economy. Stocks may be gearing up for a relief rally after key signals hit oversold extremes. The bond market is suffering from " Old Testament capitulation, " according to a market veteran. In commodities, bonds, and crypto: Oil prices plunged, with West Texas Intermediate down 5% to $84.75 a barrel. Brent crude , the international benchmark, moved lower 5.11% to $86.27 a barrel. Gold edged lower 0.15% to $1,838.60 per ounce. The 10-year Treasury yield dipped seven points to hover at 4.72%. Bitcoin climbed 1.67% to $27,773. Read the original article on Business Insider', 'SINGAPORE --News Direct-- BingX SINGAPORE - Media OutReach - 5 October 2023 - BingX, a leading cryptocurrency exchange platform, has released an in-depth analysis of tokens that could potentially see a huge price increase in Q4 2023. The Altcoins Research Report provides valuable insights for investors looking to capitalize on the next big altcoins surge. Key Highlights from the Report: 1. Bitcoin Price Prediction: Despite Bitcoin\'s impressive market capitalization of $550 billion, its price is unlikely to double in Q4 2023. The estimated probability of the highest price being at $28,300 is 80%, $29,761 at 21%, $31,000 at 5%, and the lowest price at $26,000. 2. Factors Influencing Token Growth: Market Capitalization: Tokens with market caps below $5 billion have a higher chance of increasing. Assessment of Utility: Utility is evaluated using three dimensions: "cheaper," "better," and "faster." Hot Projects: The market trend in 2023 leans towards tokens with utility and value. Based on traders\' predictions, it foresees that DeFi and tokens with high utility value will be the hot sectors post Q4 2023. 3. Investment Background and Social Media Data: While these are considered secondary indicators, they can still influence a token\'s popularity and growth potential. 4. Token Risks and Trading Strategies: BingX emphasizes the importance of setting stop-loss limit orders and using a Trailing Stop approach for spot investments. For those using BingX perpetual contract trading, an X2 leverage is recommended. 5. Future of Bitcoin: The analysis suggests that 2024 and 2025 could be the final bull markets for Bitcoin with over 100% price increases. Beyond that, Bitcoin\'s growth may slow down, with potential price increases not exceeding 50%. The coin analysis report is a testament to the platform\'s commitment to providing its users with valuable insights to navigate the volatile cryptocurrency market. As always, BingX reminds investors of the inherent risks associated with cryptocurrency investments and the importance of conducting thorough research before making any investment decisions. About BingX BingX is a leading cryptocurrency exchange offering spot, derivatives, grid, and copy trading services to users in over 100 countries and regions worldwide. With a user base of over 5 million, BingX facilitates connections between users, expert traders, and the platform itself in a secure and innovative manner. Contact Details BingX Media Contact [email protected] Company Website https://bingx.com/en-us/ View source version on newsdirect.com: https://newsdirect.com/news/bingx-reveals-comprehensive-analysis-on-potential-altcoins-growth-for-q4-2023-817499208 View comments', 'SINGAPORE --News Direct-- BingX SINGAPORE - Media OutReach - 5 October 2023 - BingX, a leading cryptocurrency exchange platform, has released an in-depth analysis of tokens that could potentially see a huge price increase in Q4 2023. The Altcoins Research Report provides valuable insights for investors looking to capitalize on the next big altcoins surge. Key Highlights from the Report: 1. Bitcoin Price Prediction: Despite Bitcoin\'s impressive market capitalization of $550 billion, its price is unlikely to double in Q4 2023. The estimated probability of the highest price being at $28,300 is 80%, $29,761 at 21%, $31,000 at 5%, and the lowest price at $26,000. 2. Factors Influencing Token Growth: Market Capitalization: Tokens with market caps below $5 billion have a higher chance of increasing. Assessment of Utility: Utility is evaluated using three dimensions: "cheaper," "better," and "faster." Hot Projects: The market trend in 2023 leans towards tokens with utility and value. Based on traders\' predictions, it foresees that DeFi and tokens with high utility value will be the hot sectors post Q4 2023. 3. Investment Background and Social Media Data: While these are considered secondary indicators, they can still influence a token\'s popularity and growth potential. 4. Token Risks and Trading Strategies: BingX emphasizes the importance of setting stop-loss limit orders and using a Trailing Stop approach for spot investments. For those using BingX perpetual contract trading, an X2 leverage is recommended. 5. Future of Bitcoin: The analysis suggests that 2024 and 2025 could be the final bull markets for Bitcoin with over 100% price increases. Beyond that, Bitcoin\'s growth may slow down, with potential price increases not exceeding 50%. The coin analysis report is a testament to the platform\'s commitment to providing its users with valuable insights to navigate the volatile cryptocurrency market. As always, BingX reminds investors of the inherent risks associated with cryptocurrency investments and the importance of conducting thorough research before making any investment decisions. About BingX BingX is a leading cryptocurrency exchange offering spot, derivatives, grid, and copy trading services to users in over 100 countries and regions worldwide. With a user base of over 5 million, BingX facilitates connections between users, expert traders, and the platform itself in a secure and innovative manner. Contact Details BingX Media Contact [email protected] Company Website https://bingx.com/en-us/ View source version on newsdirect.com: https://newsdirect.com/news/bingx-reveals-comprehensive-analysis-on-potential-altcoins-growth-for-q4-2023-817499208 View comments', 'Block (NYSE:SQ) is a leading fintech company that is famed for its widely popular Cash App, and Square SMB ecosystem. The CEOs of SquareAlyssa Henry has recently left after a solid 9 years with the company. This impacted the stock price slightly, although there does not seem to be any animosity. Although there was a temporary outage at Square in September, which may have been related, but that would be speculation at this stage. Either way, the tremendous founder and entrepreneur Jack Dorsey (who also founded Twitter) will take over in the interim. Blocks stock price has been decimated by 84% since its high in August 2021 and now trades close to its pandemic low. In this post im going to break down its financials and valuation, to see if this could be a buying opportunity, lets dive in.\n• Warning! GuruFocus has detected 7 Warning Signs with SQ. Click here to check it out.\n• SQ 30-Year Financial Data\n• The intrinsic value of SQ\nBlock reported solid financial results for the second quarter of 2023. Its revenue was $5.53 billion, which beat analyst forecasts by $433 million and rose by 26% year over year. This a major positive given the pullback in Bitcoin trading.\nTotal gross profit rose by 27% year over year, to $1.87 billion. This was driven by improved operating leverage. Adjusted EBITDA also rose substantially to $384 million, driven by similar reasons.\nAdjusted Operating income (inc stock based compensation) turned from a loss of $103 million in Q2,22 to a positive $25 million in profit for Q3,23.\nThe SMB payment platform Square saw its Gross Payment Volume (GPV) increase by 12% year over year. Churn has also stabilized relative to prior years which was a positive.\nSquare reported close to half of total gross profit with $888 million reported, up 18% year-over-year.\nThis was driven mainly by its point of sales (PoS) products across retail, restaurants and appointments.\nIts Square Banking product drove gross profit of $167 million, up 24% year over year.\nIts Banking products also drove 19% of Square gross profit up from 17% in the prior year.\nThis was driven by features such as Instant Transfer, Square Savings, Square Debit Card and even Square Loans. The loans are particularly interesting given SMBs are an historically underserved market when it comes to capital. Square is therefore in a strong position due to the data it collects to underwrite the risk on the various loans.\nMid Market sellers have also become more popular on the platform increasing by 20% year over year.\nMoving onto Cash App, this drove slightly over 50% of total gross profit, or $968 million, up a rapid 37% year over year.\nThis was driven by a solid 15% increase in monthly transacting active users to 54 million. Its inflows framework reported an increase in Inflows per Transacting Active and monetization rate.\nThe business reported $53 million in peer to peer volume, across its Cash app up 18% year over year.\nInflows (per active user) were an average of $1,134, up a solid 8% year over year.\nAn interesting trend management pointed out in the Q2 earnings call was the trend of tax refunds. One third of Cash App Taxes Actives received a tax refund directly into the Cash App, which shows the trust in the platform as a primary bank facility.\nIts Buy Now Pay Later (BNPL) platform reported $84 million in gross profit. This was driven by $6.4 billion in gross merchandise volume (GMV), up 22% year over year. This is an interesting trend as it shows the consumer is still spending.\nBlock has a strong balance sheet with $5.8 billion in cash and short term investments. In addition, the business reported total debt of $5.3 billion, which the majority is long term by nature.\nI have inputted the financials of Block into my valuation model which uses the discounted cash flow method of valuation. I have forecast 15% revenue growth for next year , the next four quarters. In addition, to 19% growth per year for the next 2 to 5 years. Given Blocks latest earnings report indicates revenue growth of over 20%, I believe this is achievable and even prudent.\nI have forecasted the company will expand its operating margin to 15% over the next 7 years. I expect this to be driven by increased operating leverage as it scales. In addition, to ecosystem benefits across its different products. This is not including a rebound in the popularity of Crypto trading (specifically Bitcoin), although that would be a bonus.\nMy discounted cash flow model indicates a fair value of $128 per share, and thus the stock is over 50% undervalued at the time of writing.\nThe GF value calculator indicates a fair value of $115 per share, and thus the stock is significantly undervalued.\nBlock trades at a price to sales (P/S) ratio = 1.35, which is 78% cheaper than its 5 year average.\nUBS did change its rating to neutral and slash its price target to $102 per share to $65. Although this is still higher than the approximate $45 per share, at the time of writing.\nJPMorgan Chase & Co. reduced their target price from $96 to $75 per share.\nAlthough Berenberg initiated a Buy rating on the stock with an average one-year price target of $86.61.\nBlock is a tremendous company managed by an incredible entrepreneur Jack Dorsey. The CEO of Square leaving is not a great sign but I dont believe this will materially impact the long term business. Block has still been growing at a solid clip and given the stock is deeply undervalued intrinsically it looks to be a great long-term investment.\nThis article first appeared onGuruFocus.', 'Block ( NYSE:SQ ) is a leading fintech company that is famed for its widely popular Cash App, and Square SMB ecosystem. The CEOs of SquareAlyssa Henry has recently left after a solid 9 years with the company. This impacted the stock price slightly, although there does not seem to be any animosity. Although there was a temporary outage at Square in September, which may have been related, but that would be speculation at this stage. Either way, the tremendous founder and entrepreneur Jack Dorsey (who also founded Twitter) will take over in the interim. Blocks stock price has been decimated by 84% since its high in August 2021 and now trades close to its pandemic low. In this post im going to break down its financials and valuation, to see if this could be a buying opportunity, lets dive in. Solid Financials Warning! GuruFocus has detected 7 Warning Signs with SQ. Click here to check it out. SQ 30-Year Financial Data The intrinsic value of SQ Block reported solid financial results for the second quarter of 2023. Its revenue was $5.53 billion, which beat analyst forecasts by $433 million and rose by 26% year over year. This a major positive given the pullback in Bitcoin trading. Total gross profit rose by 27% year over year, to $1.87 billion. This was driven by improved operating leverage. Adjusted EBITDA also rose substantially to $384 million, driven by similar reasons. Adjusted Operating income (inc stock based compensation) turned from a loss of $103 million in Q2,22 to a positive $25 million in profit for Q3,23. The SMB payment platform Square saw its Gross Payment Volume (GPV) increase by 12% year over year. Churn has also stabilized relative to prior years which was a positive. Square reported close to half of total gross profit with $888 million reported, up 18% year-over-year. This was driven mainly by its point of sales (PoS) products across retail, restaurants and appointments. Its Square Banking product drove gross profit of $167 million, up 24% year over year. Its Banking products also drove 19% of Square gross profit up from 17% in the prior year. Block: Intrinsic Valuation Model reveals an Investment Opportunity This was driven by features such as Instant Transfer, Square Savings, Square Debit Card and even Square Loans. The loans are particularly interesting given SMBs are an historically underserved market when it comes to capital. Square is therefore in a strong position due to the data it collects to underwrite the risk on the various loans. Mid Market sellers have also become more popular on the platform increasing by 20% year over year. Moving onto Cash App, this drove slightly over 50% of total gross profit, or $968 million, up a rapid 37% year over year. Story continues This was driven by a solid 15% increase in monthly transacting active users to 54 million. Its inflows framework reported an increase in Inflows per Transacting Active and monetization rate. The business reported $53 million in peer to peer volume, across its Cash app up 18% year over year. Inflows (per active user) were an average of $1,134, up a solid 8% year over year. An interesting trend management pointed out in the Q2 earnings call was the trend of tax refunds. One third of Cash App Taxes Actives received a tax refund directly into the Cash App, which shows the trust in the platform as a primary bank facility. Its Buy Now Pay Later (BNPL) platform reported $84 million in gross profit. This was driven by $6.4 billion in gross merchandise volume (GMV), up 22% year over year. This is an interesting trend as it shows the consumer is still spending. Block has a strong balance sheet with $5.8 billion in cash and short term investments. In addition, the business reported total debt of $5.3 billion, which the majority is long term by nature. Advanced Valuation I have inputted the financials of Block into my valuation model which uses the discounted cash flow method of valuation. I have forecast 15% revenue growth for next year , the next four quarters. In addition, to 19% growth per year for the next 2 to 5 years. Given Blocks latest earnings report indicates revenue growth of over 20%, I believe this is achievable and even prudent. Block: Intrinsic Valuation Model reveals an Investment Opportunity I have forecasted the company will expand its operating margin to 15% over the next 7 years. I expect this to be driven by increased operating leverage as it scales. In addition, to ecosystem benefits across its different products. This is not including a rebound in the popularity of Crypto trading (specifically Bitcoin), although that would be a bonus. Block: Intrinsic Valuation Model reveals an Investment Opportunity My discounted cash flow model indicates a fair value of $128 per share, and thus the stock is over 50% undervalued at the time of writing. The GF value calculator indicates a fair value of $115 per share, and thus the stock is significantly undervalued. Block trades at a price to sales (P/S) ratio = 1.35, which is 78% cheaper than its 5 year average. Block: Intrinsic Valuation Model reveals an Investment Opportunity Analyst ratings and risks UBS did change its rating to neutral and slash its price target to $102 per share to $65. Although this is still higher than the approximate $45 per share, at the time of writing. JPMorgan Chase & Co. reduced their target price from $96 to $75 per share. Although Berenberg initiated a Buy rating on the stock with an average one-year price target of $86.61. Final Thoughts Block is a tremendous company managed by an incredible entrepreneur Jack Dorsey. The CEO of Square leaving is not a great sign but I dont believe this will materially impact the long term business. Block has still been growing at a solid clip and given the stock is deeply undervalued intrinsically it looks to be a great long-term investment. This article first appeared on GuruFocus . View comments', 'Global Vending Machine Operators Market\nDublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The"Vending Machine Operators Global Market Report 2023"report has been added toResearchAndMarkets.com\'soffering.\nThe global vending machine operators market will grow from $37.99 billion in 2022 to $42.36 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The vending machine operators market is expected to grow to $63.66 billion in 2027 at a CAGR of 10.7%.\nIn 2022, Asia Pacific emerged as the dominant player in the vending machine operators market, leading the pack in terms of market share. North America followed as the second-largest region in this market. The vending machine operators market report provides comprehensive coverage of regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.\nThe vending machine operators market is poised for growth, driven by the surging demand for on-the-go snacks, beverages, and various commodities. Vending machines have become synonymous with convenience, offering consumers the ease of purchasing items without the hassle of entering crowded stores or waiting in long queues.\nFor instance, Japan boasts a staggering 5 million vending machines, as reported by the Japan Times. Similarly, the USA hosts more than 4.6 million vending machines, as highlighted by Vending Market Watch. This trend of on-the-go purchasing, perfectly suited to the fast-paced modern lifestyle, fuels the market\'s expansion.\nA prominent trend shaping the vending machine operators market is the heightened focus on innovation by industry players. Companies are embracing cutting-edge technologies like cashless payment systems, Internet of Things (IoT), artificial intelligence (AI), and big data analytics to elevate sales, enhance convenience, and gather valuable customer insights.\nFor instance, over 2,000 Coca-Cola vending machines in Australia and New Zealand now accept Bitcoin as payment, showcasing the integration of cryptocurrency technology. Coca Cola\'s innovative journey includes experimentation with AI and big data to develop smart vending machines that require minimal human intervention.\nPartnering with Hivery, a technology-driven company specializing in AI and big data, Coca-Cola transformed its vending machine strategy in over 200 countries. Starting with a small number of machines in Newcastle, Australia, the AI-driven approach optimized vending machine stocking, resulting in an 18% reduction in restocking visits and a remarkable 15% increase in revenue. This success story underscores the significant role of big data and AI in vending machine optimization.\nIn April 2022, American Green, a prominent player in the cannabis and hemp industry in the United States, made an undisclosed acquisition of VendWeb, a manufacturer and seller of vending machines. This strategic acquisition is set to bolster American Green\'s distribution capabilities and enhance its market position.\nThe vending machine operators market encompasses a range of countries, including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States.\nMajor players in the vending machine operators market are\n• Azkoyen Group\n• Fuji Electric Co. Ltd\n• Glory Ltd\n• Royal Vendors Inc.\n• AMS Vending\n• SandenVendo\n• Crane Payment Innovations\n• Hunan Zhongji Technology Co. Ltd\n• Vendstop\n• XY Vending\n• Crane Merchandising Systems\n• R.S. Hughes Co. Inc.\n• Westomatic Vending Services Ltd\n• Coffetek\n• Jetinno\nKey Topics Covered:\n1. Executive Summary2. Vending Machine Operators Market Characteristics3. Vending Machine Operators Market Trends And Strategies4. Vending Machine Operators Market - Macro Economic Scenario4.1 COVID-19 Impact On Vending Machine Operators Market4.2 Ukraine-Russia War Impact On Vending Machine Operators Market4.3 Impact Of High Inflation On Vending Machine Operators Market5. Vending Machine Operators Market Size And Growth5.1. Global Vending Machine Operators Historic Market, 2017-2022, $ Billion5.1.1. Drivers Of The Market5.1.2. Restraints On The Market5.2. Global Vending Machine Operators Forecast Market, 2022-2027F, 2032F, $ Billion5.2.1. Drivers Of The Market5.2.2. Restraints On the Market6. Vending Machine Operators Market Segmentation6.1. Global Vending Machine Operators Market, Segmentation By Machine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion\n• Beverages Vending Machine\n• Food Products Vending Machine\n• Confectionery Products Vending Machine\n• Others Products Vending Machine\n6.2. Global Vending Machine Operators Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion\n• Soft Drinks\n• Candy And Snacks\n• Hot Beverages\n• Hot And Cold Meal Products\n• Ice Cream\n• Other Products\n6.3. Global Vending Machine Operators Market, Segmentation By Use Case, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion\n• Corporate Offices\n• Shopping Malls And Retail Stores\n• Educational Institutions\n• Hotels And Restaurants\n• Other Use Cases\n7. Vending Machine Operators Market Regional And Country Analysis7.1. Global Vending Machine Operators Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion7.2. Global Vending Machine Operators Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion\nFor more information about this report visithttps://www.researchandmarkets.com/r/k1pz7n\nAbout ResearchAndMarkets.comResearchAndMarkets.com is the world\'s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.\nAttachment\n• Global Vending Machine Operators Market\nCONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900', 'CMCC Global, a Hong Kong-based blockchain-focused venture capital fund, announced Wednesday that it raised US$100 million to launch the “Titan Fund.”\nSee related article:SFC to monitor illegal VATP activities with Hong Kong Police Force\n• CMCC’s new Titan Fund will invest in early-stage blockchain startups along the verticals of infrastructure, fintech and consumer applications such as gaming, metaverse and NFTs.\n• The fund’s anchor investor was software firm Block.one, which committed US$50 million, while CMCC participated in the raise with a 15% general partner commitment. Other notable investors include the Winklevoss Capital, Animoca Brands, Richard Li’s Pacific Century Group, and personal investments from notable figures like Yat Siu.\n• “The Titan Fund will accelerate Web3 innovation in Hong Kong and beyond. CMCC Global and their team are known to be conviction-driven investors that have identified numerous breakthrough innovators early on,” said Siu, the chairman of Animoca Brands, who received one of the first investments from CMCC via a warehouse deal into his Mocaverse project.\n• The fund’s launch and operations will be led by Yen Shiau Sin, CMCC’s new managing partner, who previously served as director of strategic investments at Block.one.\n• Bitcoin is 59% below its all-time high of US$68,875 and the economic downturn has been causing hardships for many crypto firms. New York-based blockchain intelligence firmChainalysisreportedly axed 150 employees this week, nearly a month afterBinance.US announced cutting one-thirdof its workforce.\n• “While negative news stories surrounding events like the FTX blow and the JPEX case dominate headlines, there are incredibly innovative companies quietly building the future of Web3 without much publicity,” Charlie Morris, CMCC co-founder toldForkast.\n• “Our new Titan Fund looks to support these companies and we see it as a great time to be doubling down on our mission to accelerate innovation in blockchain technology and the digital asset ecosystem.”\nSee related article:Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024\n(Update adds comment from Morris)', 'CMCC Global, a Hong Kong-based blockchain-focused venture capital fund, announced Wednesday that it raised US$100 million to launch the \x93Titan Fund.\x94 See related article: SFC to monitor illegal VATP activities with Hong Kong Police Force Fast Facts CMCC\x92s new Titan Fund will invest in early-stage blockchain startups along the verticals of infrastructure, fintech and consumer applications such as gaming, metaverse and NFTs. The fund\x92s anchor investor was software firm Block.one, which committed US$50 million, while CMCC participated in the raise with a 15% general partner commitment. Other notable investors include the Winklevoss Capital, Animoca Brands, Richard Li\x92s Pacific Century Group, and personal investments from notable figures like Yat Siu. \x93The Titan Fund will accelerate Web3 innovation in Hong Kong and beyond. CMCC Global and their team are known to be conviction-driven investors that have identified numerous breakthrough innovators early on,\x94 said Siu, the chairman of Animoca Brands, who received one of the first investments from CMCC via a warehouse deal into his Mocaverse project. The fund\x92s launch and operations will be led by Yen Shiau Sin, CMCC\x92s new managing partner, who previously served as director of strategic investments at Block.one. Bitcoin is 59% below its all-time high of US$68,875 and the economic downturn has been causing hardships for many crypto firms. New York-based blockchain intelligence firm Chainalysis reportedly axed 150 employees this week, nearly a month after Binance.US announced cutting one-third of its workforce. \x93While negative news stories surrounding events like the FTX blow and the JPEX case dominate headlines, there are incredibly innovative companies quietly building the future of Web3 without much publicity,\x94 Charlie Morris, CMCC co-founder told Forkast. \x93Our new Titan Fund looks to support these companies and we see it as a great time to be doubling down on our mission to accelerate innovation in blockchain technology and the digital asset ecosystem.\x94 See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024 (Update adds comment from Morris)', 'Dutch crypto companies including Bitvavo and Binance successor Coinmerce have scored a partial legal win in their fight against $2.3 million in fees imposed by Dutch regulators. The Dutch central bank (DNB) went beyond legal powers in charging companies to register for anti-money laundering purposes, a Rotterdam court said in two judgments issued on Wednesday. “The way in which DNB assesses registration requests is contrary to the scope of the registration obligation for crypto service providers” set out in European Union anti-money laundering laws, the court said, adding that under current crypto regulations “it is not possible to lawfully charge supervisory costs for the year 2021 to crypto service providers.” The legislation is still consistent with general norms of good governance, and the companies should still be regarded as under supervision, the judges said. The ruling has no bearing on costs for 2020, judges said, and a separate legal case is still ongoing for 2022 fees. The Netherlands, which will shortly have to apply the EU’s tough Markets in Crypto Assets licensing regime, has taken a tough line on crypto firms, imposing millions of euros of fines on Coinbase and Binance for failing to register. Crypto exchange Gemini recently announced it’s quitting the country due to DNB strictures, and Binance transferred its Dutch customers to Coinmerce as it did likewise. Patrick van der Meijde, president of the United Bitcoin Companies of the Netherlands (VBNL), the industry grouping which coordinated the complaint, said his organization was “pleased that the court has found that the registration obligation as resulting from [EU anti-money laundering legislation] has been violated in the Netherlands." “The great costs of this should not have been passed on, because they fall outside DNB\'s mandate,” van der Meijde added. A spokesperson for the DNB told CoinDesk it had taken note of the ruling and would consult further with the finance ministry on the issue. Story continues The central bank had complied with Dutch laws and regulations, the DNB spokesperson said, adding that the ruling “confirms our mandate to provide adequate money-laundering supervision of the crypto sector” as well as for other financial institutions. Financial regulators in Europe are generally not taxpayer-funded, and charge operational costs to supervised entities in proportion to their size. Total crypto supervisory fees in 2022 were 2.2 million euros ($2.3 million), a number which increases each year, van der Meijde said. UPDATE (Oct. 5, 10:48 UTC): updates subheading, second paragraph to refer to anti-money laundering UPDATE (Oct. 5, 13:00 UTC): adds statement from DNB.', "Bitcoin held steady above the $27,600 level Thursday as ether (ETH) stabilized from a multi day drop, while XRP and Avalanche’s AVAX jumped.\nThe largest cryptocurrency by market value gained just over 0.6% in the past 24 hours, seemingly stabilizing above the $27,600 level after losing support at $28,000 earlier this week. Ether fell 0.5%, Solana’s SOL fell 1.4%, while Cardano’s ADA and BNB Chain’s BNB traded flat.\nXRP tokens gave back some gains after a 5% jump on Wednesday, following two key developments for payments company Ripple. The firm’s Asian arm was awarded a Singapore license to offer its payment services to users in the region, while the U.S. entitygained a winas the Securities and Exchange Commission (SEC) lost a bid to appeal in the Ripple case.\n“It's fantastic to see Ripple bat away the SEC's legal action. This further underscores the urgent need for clear and well-defined regulations,” said David Janczewski, CEO of blockchain protection company CoinCover.\n“The surge in XRP shows that regulatory clarity is a catalyst for market confidence and will create the responsible growth that policymakers want to see,” Janczewski added.\nRipple has historically maintained a distance from XRP, the token that powers some of its products and the XRP Ledger network. But any progress in Ripple’s court cases, or licenses, clearly has an impact on XRP prices as traders consider the two related.\nAvalanche tokens seemed to get a boost as demand increased after popular accounts on social app X, formerly Twitter, seemed to promote an application built on the blockchain.\nStars Arena as it is called, is similar toFriend.Tech, a viral app that allows Ethereum users to buy “shares” of X accounts in return for certain privileges. The platform recorded over 600,000 transactions since Monday,DappRadar datashows.\nAVAX prices jumped as much as 6% on Wednesday before retreating, while on-chain datashowed a nearly 40% increasein transactions since the start of this week.\nMeanwhile, Ruslan Lienkha, chief of markets at YouHodler, told CoinDesk in an email that crypto prices could see an upswing only if developers took steps to become more compliant with regulatory expectations.\n“Positive internal factors in the crypto world will lead to capital inflow, such as broader adoption, growing institutional interest, more jurisdictions with transparent regulation, and better technologies,” Lienkha said.\nThe trader opined spot bitcoin ETFs could also aid a rally in the broader crypto market, with prices expected to touch at least $40,000, considering current developments.\n“As of now, the SEC has fewer arguments to reject spot ETFs, so we expect the first approval of spot BTC ETFs will happen in Q4 or at the beginning of 2024,” Leinkha said. “In the case of stock index tranquility, BTC price will increase by the end of the year to the zone of $35,000-$40,000.”", "Bitcoin held steady above the $27,600 level Thursday as ether (ETH) stabilized from a multi day drop, while XRP and Avalanche’s AVAX jumped. The largest cryptocurrency by market value gained just over 0.6% in the past 24 hours, seemingly stabilizing above the $27,600 level after losing support at $28,000 earlier this week. Ether fell 0.5%, Solana’s SOL fell 1.4%, while Cardano’s ADA and BNB Chain’s BNB traded flat. XRP tokens gave back some gains after a 5% jump on Wednesday, following two key developments for payments company Ripple. The firm’s Asian arm was awarded a Singapore license to offer its payment services to users in the region, while the U.S. entity gained a win as the Securities and Exchange Commission (SEC) lost a bid to appeal in the Ripple case. “It's fantastic to see Ripple bat away the SEC's legal action. This further underscores the urgent need for clear and well-defined regulations,” said David Janczewski, CEO of blockchain protection company CoinCover. “The surge in XRP shows that regulatory clarity is a catalyst for market confidence and will create the responsible growth that policymakers want to see,” Janczewski added. Ripple has historically maintained a distance from XRP, the token that powers some of its products and the XRP Ledger network. But any progress in Ripple’s court cases, or licenses, clearly has an impact on XRP prices as traders consider the two related. Why AVAX Saw a Boost? Avalanche tokens seemed to get a boost as demand increased after popular accounts on social app X, formerly Twitter, seemed to promote an application built on the blockchain. Stars Arena as it is called, is similar to Friend.Tech , a viral app that allows Ethereum users to buy “shares” of X accounts in return for certain privileges. The platform recorded over 600,000 transactions since Monday, DappRadar data shows. AVAX prices jumped as much as 6% on Wednesday before retreating, while on-chain data showed a nearly 40% increase in transactions since the start of this week. Meanwhile, Ruslan Lienkha, chief of markets at YouHodler, told CoinDesk in an email that crypto prices could see an upswing only if developers took steps to become more compliant with regulatory expectations. “Positive internal factors in the crypto world will lead to capital inflow, such as broader adoption, growing institutional interest, more jurisdictions with transparent regulation, and better technologies,” Lienkha said. The trader opined spot bitcoin ETFs could also aid a rally in the broader crypto market, with prices expected to touch at least $40,000, considering current developments. “As of now, the SEC has fewer arguments to reject spot ETFs, so we expect the first approval of spot BTC ETFs will happen in Q4 or at the beginning of 2024,” Leinkha said. “In the case of stock index tranquility, BTC price will increase by the end of the year to the zone of $35,000-$40,000.” View comments", "Bitcoin held steady above the $27,600 level Thursday as ether (ETH) stabilized from a multi day drop, while XRP and Avalanche’s AVAX jumped.\nThe largest cryptocurrency by market value gained just over 0.6% in the past 24 hours, seemingly stabilizing above the $27,600 level after losing support at $28,000 earlier this week. Ether fell 0.5%, Solana’s SOL fell 1.4%, while Cardano’s ADA and BNB Chain’s BNB traded flat.\nXRP tokens gave back some gains after a 5% jump on Wednesday, following two key developments for payments company Ripple. The firm’s Asian arm was awarded a Singapore license to offer its payment services to users in the region, while the U.S. entitygained a winas the Securities and Exchange Commission (SEC) lost a bid to appeal in the Ripple case.\n“It's fantastic to see Ripple bat away the SEC's legal action. This further underscores the urgent need for clear and well-defined regulations,” said David Janczewski, CEO of blockchain protection company CoinCover.\n“The surge in XRP shows that regulatory clarity is a catalyst for market confidence and will create the responsible growth that policymakers want to see,” Janczewski added.\nRipple has historically maintained a distance from XRP, the token that powers some of its products and the XRP Ledger network. But any progress in Ripple’s court cases, or licenses, clearly has an impact on XRP prices as traders consider the two related.\nAvalanche tokens seemed to get a boost as demand increased after popular accounts on social app X, formerly Twitter, seemed to promote an application built on the blockchain.\nStars Arena as it is called, is similar toFriend.Tech, a viral app that allows Ethereum users to buy “shares” of X accounts in return for certain privileges. The platform recorded over 600,000 transactions since Monday,DappRadar datashows.\nAVAX prices jumped as much as 6% on Wednesday before retreating, while on-chain datashowed a nearly 40% increasein transactions since the start of this week.\nMeanwhile, Ruslan Lienkha, chief of markets at YouHodler, told CoinDesk in an email that crypto prices could see an upswing only if developers took steps to become more compliant with regulatory expectations.\n“Positive internal factors in the crypto world will lead to capital inflow, such as broader adoption, growing institutional interest, more jurisdictions with transparent regulation, and better technologies,” Lienkha said.\nThe trader opined spot bitcoin ETFs could also aid a rally in the broader crypto market, with prices expected to touch at least $40,000, considering current developments.\n“As of now, the SEC has fewer arguments to reject spot ETFs, so we expect the first approval of spot BTC ETFs will happen in Q4 or at the beginning of 2024,” Leinkha said. “In the case of stock index tranquility, BTC price will increase by the end of the year to the zone of $35,000-$40,000.”", 'Bitcoin\'s price has seen a notable increase in the past week. The rise has been driven in some part by a dynamic between short and long-term bitcoin holders, according to an analyst.\nBitcoin (BTC-USD) has risen by 4.5% in the past week, now changing hands at $27,602, (£22,771) according to CoinGeckodata.\nThis is a retrace from a height of $28,500, that was reached on Monday. The early October high marked a significant price point that has not been reached since August 17, 2023.\nRead more:Crypto live prices\n"Bitcoin now finds itself in a technical range, confined between the resistance level of $28,500 and the support level of $27,100," CryptoQuant analyst Adam Mourad told Yahoo Finance UK.\nThe analyst explained the underlying factors that could be at play. Mourad described a market dynamic that has developed between short and long-term bitcoin holders. He referred to on-chain metrics that demonstrated long-term holders acquiring the digital assets that are being sold by short-term holders.\n"The supply held by short-term holders has dipped to its lowest point in nearly eight years, a level not seen since November 2015, with a value of 3.8 million bitcoins," the analyst said.\nConversely, the CryptoQuant analyst referred to on-chain data that showed the supply of bitcoin held by long-term holders has reached an all-time high, standing at 15.6 million bitcoins.\nHe added that long-term holders have a deeper belief in the asset and will hold and accumulate the asset. A dynamic that favours price appreciation.\nRead more:SBF defense in FTX trial: \'There was no theft\'\nLong-term holders of bitcoin wait in hopeful anticipation that an approval of a spot bitcoin ETF by US regulators is forthcoming. A spot bitcoin ETF is a financial product that investors hope will open the gateway for mainstream capital to flood the crypto market.\nAt a conference in London this week, former BlackRock (BLK) managing director Steven Schoenfield said he believed the SEC could approve a spot bitcoin ETF within 3-6 months based on mounting regulatory pressure. This relatively short timeframe marks a shift in Schoenfield’s outlook. He had previously projected a longer “nine to twelve months” window.\nRead more:Institutional investment brings new momentum to crypto\nDuring a panel discussion on ETFs at CCData’s Digital Asset Summit in London, Schoenfield explained his updated forecast is based on a view that there has been “a significant improvement in the dialogue” between the Securities and Exchange Commission (SEC) and financial industry figures. The SEC is the US financial regulator that will make the decision whether to approve the multiple spot bitcoin ETF filings that have been filed.\nWatch: Crypto bosses pouring millions into anti-aging tech to live longer | The Crypto Mile\nDownload the Yahoo Finance app, available forAppleandAndroid.', 'Bitcoin\'s price has seen a notable increase in the past week. The rise has been driven in some part by a dynamic between short and long-term bitcoin holders, according to an analyst.\nBitcoin (BTC-USD) has risen by 4.5% in the past week, now changing hands at $27,602, (£22,771) according to CoinGeckodata.\nThis is a retrace from a height of $28,500, that was reached on Monday. The early October high marked a significant price point that has not been reached since August 17, 2023.\nRead more:Crypto live prices\n"Bitcoin now finds itself in a technical range, confined between the resistance level of $28,500 and the support level of $27,100," CryptoQuant analyst Adam Mourad told Yahoo Finance UK.\nThe analyst explained the underlying factors that could be at play. Mourad described a market dynamic that has developed between short and long-term bitcoin holders. He referred to on-chain metrics that demonstrated long-term holders acquiring the digital assets that are being sold by short-term holders.\n"The supply held by short-term holders has dipped to its lowest point in nearly eight years, a level not seen since November 2015, with a value of 3.8 million bitcoins," the analyst said.\nConversely, the CryptoQuant analyst referred to on-chain data that showed the supply of bitcoin held by long-term holders has reached an all-time high, standing at 15.6 million bitcoins.\nHe added that long-term holders have a deeper belief in the asset and will hold and accumulate the asset. A dynamic that favours price appreciation.\nRead more:SBF defense in FTX trial: \'There was no theft\'\nLong-term holders of bitcoin wait in hopeful anticipation that an approval of a spot bitcoin ETF by US regulators is forthcoming. A spot bitcoin ETF is a financial product that investors hope will open the gateway for mainstream capital to flood the crypto market.\nAt a conference in London this week, former BlackRock (BLK) managing director Steven Schoenfield said he believed the SEC could approve a spot bitcoin ETF within 3-6 months based on mounting regulatory pressure. This relatively short timefr
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-05
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $540,228,716,500
- Hash Rate: 401774935.7811363
- Transaction Count: 319310.0
- Unique Addresses: 687363.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.48
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin fell 10.44% from Aug. 11 to Aug. 18 to US$26,324 as of 9:00 p.m. Friday in Hong Kong, according to CoinMarketCap data. The world’s largest cryptocurrency by market capitalization has been trading below US$30,000 since last Wednesday. Ether fell 9.16% over the week to US$1,678. H8aXcZ5Tixooc8Lo8cQSakEpU3LOZHUnvJWHFiANCNZ7exvZZWMnaxqoDNG sR l0YH 1eWxB4hrnNHjuGYq6DDQfg2q 7bIFHet 8Wu3xdZ9ypNrwzCKYKXV 57W3cmP0ucBLbB4PDg4Ox 2uaqaLA Bitcoin dipped to US$25,409 on Friday, its lowest price in two months, after Evergrande, a Chinese property developer with over US$340 billion in liabilities, filed for bankruptcy protection in the U.S., as part of its prolonged restructuring agreement with international creditors. Evergrande defaulted on its dollar-denominated debts in 2021. Adrian Fritz, a senior research associate at 21.co, the parent company of 21Shares, an issuer of crypto exchange-traded products, said that Evergrande’s bankruptcy contributed to Bitcoin’s price fall, along with the usual “summer trading lull.” “Bitcoin’s first key support level was the 200-day moving average at US$27,200, which it wasn’t able to hold. The next major support level to watch would be around US$25,000,” said Fritz, in an email response to Forkast. Coinbase, the largest crypto exchange in the U.S., announced on Wednesday that it obtained regulatory approval to offer crypto futures trading services to eligible clients in the country. The Shiba Inu (SHIB) token launched its layer-2 scaling solution, Shibarium , on the Ethereum blockchain on Thursday, but US$1.7 million worth of ETH was stuck on the Shibarium bridge, according to on-chain intelligence firm PeckShield, leading an over 7% drop in SHIB’s price. Adding to the negative investor sentiment, Binance announced the shutdown of its crypto payment service, Binance Connect, on Wednesday. Previously known as “Bifinity,” Binance Connect was a fiat-to-crypto payment ramp for the exchange, allowing users to buy cryptocurrencies through Mastercard and Visa. Binance’s announcement came a day after Europe’s first Spot Bitcoin exchange-traded fund (ETF) was listed on Euronext Amsterdam, nearly two years after it was first approved. Story continues Lucas Kiely, the chief investment officer of digital asset platform Yield App, said that the ETF listing could inspire other European countries to follow suit and pressure the U.S. Securities and Exchange Commission to hasten its approval process for pending ETFs. “If Europe demonstrates that such products can operate safely within existing regulatory frameworks, it may force the SEC to reevaluate its cautious approach towards cryptocurrency-related investment vehicles,” wrote Kiely, adding that the surging demand may also move Bitcoin prices higher. However, Jonas Betz, crypto market analyst and founder of consultancy firm Betz Crypto , doesn’t expect the European ETF to significantly boost Bitcoin prices or accelerate the SEC’s decision-making process. “The SEC will likely maintain its independent pace and judgment, regardless of the actions of its European counterparts,” Betz told Forkast. Notable Movers: LTC & XRP Some of the world’s most popular cryptocurrencies were put on the spotlight in the loss column this week. XRP , the fifth largest cryptocurrency by market capitalization, dropped 20.09% to US$0.505 after the SEC was granted the request to file an interlocutory appeal in its lawsuit against Ripple Labs. Litecoin, the world’s 15th largest cryptocurrency by market capitalization, fell 21.65% to US$65.12, as part of a broader downward movement in the crypto market. The global crypto market capitalization stood at US$1.06 trillion on Friday at 9:00 p.m. in Hong Kong, down by more than US$100 billion over the past week, CoinMarketCap data shows. Next Week: Can Bitcoin close the week above US$27,000? On Tuesday, investors will be anticipating speeches from Federal Reserve Bank of Chicago President Austan Goolsbee and U.S. Federal Open Market Committee Member Michelle W. Bowman. Despite Bitcoin falling to a two-month low on Thursday, Yield App’s Kiely said that it’s not all doom and gloom. “With Europe’s first spot Bitcoin ETF now finally approved, if Bitcoin closed the week around US$27,000 it would be well within the range to regain momentum,” Kiely said. See related article: Hackers hit Curve, China announces blockchain link & is FTX back?...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["Brendan McDermid/Reuters US stocks ended the day lower as investors looked ahead to the September jobs report. Wall Street expects a 170,000 increase in payrolls last month, down from 187,000 in August. Investors are hoping to see a softer employment picture, which could influence the Fed to dial back rates. US stocks moved slightly lower on Thursday as investors looked ahead to the September jobs report on Friday. Wall Street hopes to see a softer picture of the labor market, which could influence the Fed to dial back interest rates. Friday's jobs report is expected to show a 170,000 increase in payrolls, according to economists polled by Dow Jones, slightly lower than the 187,000 payrolls reported in August. Weekly jobless data on Thursday came in slightly stronger than expected at 207,000, below the anticipated 210,000. Meanwhile, the yield on the 10-year US Treasury bond dipped to 4.716%, but is still hovering at 16-year highs. Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday: S&P 500 : 4,258.19, down 0.13% Dow Jones Industrial Average : 33,119.57, down 0.03% (9.98 points) Nasdaq Composite : 13,219.83, down 0.12% Here's what else happened today: The collapse in Treasury bonds now ranks among the worst market crashes in history . Oil prices dropped further as the outlook on global demand looks murky . Now is the time to double-down on tech stocks as market bears ramp up panic about the economy, according to Wedbush analyst Dan Ives. Stocks will still be significantly higher by year-end , and high bond yields and inflation aren't as bad as they seem, said Fundstrat's Tome Lee. Steel prices are falling due to the UAW strike . The housing market is following a similar playbook as it did in the 1980s . Here's what that could mean for homebuyers today. In commodities, bonds, and crypto: West Texas Intermediate crude oil dropped 2.16% to $82.40 a barrel. Brent crude , the international benchmark, slipped 1.94% to $84.15 a barrel. Gold fell 0.07% to $1,820.14 per ounce. The yield on the 10-year Treasury bond eased 2 basis points to 4.71%. Bitcoin slipped 0.97% to $27,523. Read the original article on Business Insider", "• US stocks ended the day lower as investors looked ahead to the September jobs report.\n• Wall Street expects a 170,000 increase in payrolls last month, down from 187,000 in August.\n• Investors are hoping to see a softer employment picture, which could influence the Fed to dial back rates.\nUS stocks moved slightly lower on Thursday as investors looked ahead to the September jobs report on Friday.\nWall Street hopes to see a softer picture of the labor market, which could influence the Fed to dial back interest rates.\nFriday's jobs report is expected to show a 170,000 increase in payrolls, according to economists polled by Dow Jones, slightly lower than the 187,000 payrolls reported in August.\nWeekly jobless data on Thursday came in slightly stronger than expected at 207,000, below the anticipated 210,000.\nMeanwhile, the yield on the 10-year US Treasury bond dipped to 4.716%, but is still hovering at 16-year highs.\nHere's where US indexes stood at the 4:00 p.m. closing bell on Thursday:\n• S&P 500:4,258.19, down 0.13%\n• Dow Jones Industrial Average:33,119.57, down 0.03% (9.98 points)\n• Nasdaq Composite:13,219.83, down 0.12%\nHere's what else happened today:\n• The collapse in Treasury bonds now ranks among the worst market crashes in history.\n• Oil prices dropped further as the outlook on global demand looks murky.\n• Now is the time to double-down on tech stocksas market bears ramp up panic about the economy, according to Wedbush analyst Dan Ives.\n• Stocks will still be significantly higher by year-end, and high bond yields and inflation aren't as bad as they seem, said Fundstrat's Tome Lee.\n• Steel prices are falling due to the UAW strike.\n• The housing market is following a similar playbook as it did in the 1980s. Here's what that could mean for homebuyers today.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil dropped 2.16% to $82.40 a barrel.Brent crude, the international benchmark, slipped 1.94% to $84.15 a barrel.\n• Goldfell 0.07% to $1,820.14 per ounce.\n• The yield on the 10-year Treasury bond eased 2 basis points to 4.71%.\n• Bitcoinslipped 0.97% to $27,523.\nRead the original article onBusiness Insider", 'On an annual basis, UK property prices declined 4.7%, versus 4.5% in August. Photo: Getty. (Mike Kemp via Getty Images) UK house prices fell further in September, edging down by -0.4% on a monthly basis with the average home now costing £278,601. This is a drop of around £1,200 since last month, marking the sixth consecutive monthly fall. The latest house price index data from Halifax also showed that on an annual basis, property prices declined 4.7%, that\'s a decline of £15,234 compared to the average price of a home in September 2022. However, homes were still more than £39,000 above pre- pandemic levels. Higher rates for longer expectations Many economists and financial markets predict that the Bank of England (BoE) Base Rate will remain higher for longer, with any significant cuts appearing unlikely until inflation gets closer to its 2% target. In September, the BoE left its key interest rate on hold at 5.25% — which is a 15-year high — after 14 consecutive rises. “Overall, these factors are likely to keep mortgage rates elevated in comparison to recent years, constraining buyer demand and putting downward pressure on house prices into next year,” Kim Kinnaird, director at Halifax Mortgages, said. However, With the BoE Base Rate now likely to be at or around its peak, fixed rate mortgages deals are easing back from recent highs. Lower levels of instructions to sell homes “Activity levels continue to look subdued compared to recent years, with industry data showing lower levels of new instructions to sell homes and agreed sales," Kinnaird said. “Borrowing costs are the primary factor, given the impact of higher interest rates on mortgage affordability. Against this backdrop, homeowners inevitably become more realistic about their target selling price, reflecting what has increasingly become a buyer’s market. Read more: Bitcoin rally driven by believers collecting evermore tokens “Wage growth also remains strong, which has helped with affordability, with the house price to income ratio now at its lowest level since June 2020 (6.2 in September vs 6.3 in August).” Story continues Prices across nations and regions Halifax said the South East of England continues to see the most downward pressure on property prices, falling by -5.7% over the last year with the average house price at £376,450. Northern Ireland currently has the most resilient house prices, down by -0.2%, compared to this time last year, with the average house price at £184,108, a fall of less than £400. Meanwhile, Scotland also experienced a relatively modest annual decline of -0.8% with the average house price at £201,594. Read more: Bake Off: 13 homes with show-stopping kitchens Wales saw property prices fall by -3.6% over the last year with the average house costing £214,585. London, meanwhile, remains the most expensive place in the UK to purchase a home, with an average property costing £525,678. Prices are down by -4.8% over the last year, the biggest fall of any region in cash terms (-£26,514). Watch: Levi\'s cuts full-year sales guidance, Q3 revenue misses estimates Download the Yahoo Finance app, available for Apple and Android .', 'On an annual basis, UK property prices declined 4.7%, versus 4.5% in August. Photo: Getty. (Mike Kemp via Getty Images) UK house prices fell further in September, edging down by -0.4% on a monthly basis with the average home now costing £278,601. This is a drop of around £1,200 since last month, marking the sixth consecutive monthly fall. The latest house price index data from Halifax also showed that on an annual basis, property prices declined 4.7%, that\'s a decline of £15,234 compared to the average price of a home in September 2022. However, homes were still more than £39,000 above pre- pandemic levels. Higher rates for longer expectations Many economists and financial markets predict that the Bank of England (BoE) Base Rate will remain higher for longer, with any significant cuts appearing unlikely until inflation gets closer to its 2% target. In September, the BoE left its key interest rate on hold at 5.25% — which is a 15-year high — after 14 consecutive rises. “Overall, these factors are likely to keep mortgage rates elevated in comparison to recent years, constraining buyer demand and putting downward pressure on house prices into next year,” Kim Kinnaird, director at Halifax Mortgages, said. However, With the BoE Base Rate now likely to be at or around its peak, fixed rate mortgages deals are easing back from recent highs. Lower levels of instructions to sell homes “Activity levels continue to look subdued compared to recent years, with industry data showing lower levels of new instructions to sell homes and agreed sales," Kinnaird said. “Borrowing costs are the primary factor, given the impact of higher interest rates on mortgage affordability. Against this backdrop, homeowners inevitably become more realistic about their target selling price, reflecting what has increasingly become a buyer’s market. Read more: Bitcoin rally driven by believers collecting evermore tokens “Wage growth also remains strong, which has helped with affordability, with the house price to income ratio now at its lowest level since June 2020 (6.2 in September vs 6.3 in August).” Story continues Prices across nations and regions Halifax said the South East of England continues to see the most downward pressure on property prices, falling by -5.7% over the last year with the average house price at £376,450. Northern Ireland currently has the most resilient house prices, down by -0.2%, compared to this time last year, with the average house price at £184,108, a fall of less than £400. Meanwhile, Scotland also experienced a relatively modest annual decline of -0.8% with the average house price at £201,594. Read more: Bake Off: 13 homes with show-stopping kitchens Wales saw property prices fall by -3.6% over the last year with the average house costing £214,585. London, meanwhile, remains the most expensive place in the UK to purchase a home, with an average property costing £525,678. Prices are down by -4.8% over the last year, the biggest fall of any region in cash terms (-£26,514). Watch: Levi\'s cuts full-year sales guidance, Q3 revenue misses estimates Download the Yahoo Finance app, available for Apple and Android .', 'Bitcoin (BTC) could be at risk of a short-term reversal following recent price bumps, while the dismal performance of ether (ETH) futures exchange-traded funds (ETF) weighed down on crypto majors. “Bitcoin continues to tend to sell on growth, failing to make a fresh attack on the 200-day moving average,” FxPro senior market analyst Alex Kuptsikevich said in a note to CoinDesk. “Bitcoin has recently outperformed the stock market but is now retreating against the buying in the indices.” “In the short term, bitcoin seems more at risk of falling than rising,” the trader said, adding ether’s bearish performance did little to boost confidence in top tokens. Ether and bitcoin were buoyed to one-month highs last week as six ETH ETFs went live in the U.S. earlier on Monday, with traders expecting high demand for the products. However, their performance told a different story . Less than $2 million were traded across the various ETFs on Monday, with poor volumes throughout the week prompting analysts to write down their bullish outlook and pivot to bitcoin investments instead. Some stats from the disappointing launch day for futures-based ETH ETFs. Overall, the shallow flows depict a hollow market and a deficient demand for ETH exposure. You may argue that futures-based ETFs are inferior to spot ETFs, to which I agree. This, however, does not… pic.twitter.com/76h63pbFvT — Vetle Lunde (@VetleLunde) October 3, 2023 Such sentiment weighed on prices, with ether losing nearly all gains since the past week, while bitcoin has generally hovered above support levels. Crypto majors moved little in the past 24 hours after profit taking earlier this week and a lack of catalysts. Bitcoin slumped 0.5%, ether slipped 1%, while XRP and BNB Chain’s BNB were little changed. Cardano’s ADA tokens were the only majors in green with a 2.2% price bump. Elsewhere, toncoin (TON) surged 8.8% on no immediately apparent catalyst, while Avalanche’s AVAX tokens continued gains from earlier this week with a 4% jump.', "For Immediate Release Chicago, IL – October 6, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. NVDA, Visa Inc. V, Block, Inc. SQ and Robinhood Markets, Inc. HOOD. Here are highlights from Thursday’s Analyst Blog: 4 Cryptocurrency Stocks in Focus After a Volatile Summer Wall Street had a solid run in the first seven months of the year before the rally came to a halt in August. Markets have since been volatile as inflation remains stubbornly high. This has made the Fed hint at another quarter percentage point interest rate hike this year. Moreover, the Fed also said that the higher interest rates are likely to continue for a longer period. Also, the central bank cut its rate cut forecast to two from four, which won’t come before September 2024. Higher interest rates negatively affect high-growth sectors like technology, consumer discretionary and cryptocurrencies. The Fed’s hawkish stance came as a major setback for the cryptocurrency market. Cryptocurrencies that made a solid turnaround this year after an unimpressive 2023 have also been suffering lately. Bitcoin Rebounds August and September have been particularly unimpressive for cryptocurrencies as the Fed’s hawkish stance saw treasury yields soar to multi-year highs. This has been taking a toll on all major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Dogecoin (DOGE). However, Bitcoin started October on a high as its price hit a four-week high. Bitcoin jumped 3% to $27,921 on Oct 2 after trading above the $28,000 mark for most of the session, its highest level since Aug 17. Also, Ethereum crossed the $1,700 mark on the same day before giving up most of its gains. Understandably, after a dull August and September, October is also expected to remain volatile as investors remain concerned about a slowing economy. Other Factors Pose Challenges Inflation continues to be stubbornly high despite a sharp decline over the past year and much above the Fed’s target of 2%. To make things worse, crude oil prices have been rising over the past month. Crude oil prices reached their highest settlement level for the year in the last week of September. This surge in oil prices has raised concerns among investors as it will impact transportation costs, leading to an overall increase in the aggregate price level. Story continues Soaring crude oil prices have made the Fed’s job even more difficult as it struggles to curb multi-decade high inflation. Stocks in Focus NVIDIA Corp. is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence and the mining or production of cryptocurrencies. NVIDIA’s expected earnings growth rate for the current year is 219.5%. The Zacks Consensus Estimate for current-year earnings has improved 39.3% over the last 60 days. NVIDIA presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here . Visa Inc. is taking a significant step toward modernizing cross-border money movement. In a move aimed at enhancing the efficiency of global transactions, V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain. This expansion of V includes collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments. Visa Inc.’s expected earnings growth rate for the current year is 15.3%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 90 days. V currently has a Zacks Rank #2 (Buy). Block, Inc. is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors. Block’s expected earnings growth rate for the current year is 69%. The Zacks Consensus Estimate for current-year earnings has improved 2.4% over the last 60 days. SQ presently has a Zacks Rank #3 (Hold). Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform. Robinhood Markets expected earnings growth rate for the current year is 57.3%.The Zacks Consensus Estimate for current-year earnings has improved 19.4% over the last 90 days. Robinhood Markets currently has a Zacks Rank #3. Why Haven’t You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Visa Inc. (V) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments", "Chicago, IL – October 6, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. NVDA, Visa Inc. V, Block, Inc. SQ and Robinhood Markets, Inc. HOOD.\nWall Street had a solid run in the first seven months of the year before the rally came to a halt in August. Markets have since been volatile as inflation remains stubbornly high. This has made the Fed hint at another quarter percentage point interest rate hike this year. Moreover, the Fed also said that the higher interest rates are likely to continue for a longer period.\nAlso, the central bank cut its rate cut forecast to two from four, which won’t come before September 2024. Higher interest rates negatively affect high-growth sectors like technology, consumer discretionary and cryptocurrencies.\nThe Fed’s hawkish stance came as a major setback for the cryptocurrency market. Cryptocurrencies that made a solid turnaround this year after an unimpressive 2023 have also been suffering lately.\nAugust and September have been particularly unimpressive for cryptocurrencies as the Fed’s hawkish stance saw treasury yields soar to multi-year highs. This has been taking a toll on all major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Dogecoin (DOGE).\nHowever, Bitcoin started October on a high as its price hit a four-week high. Bitcoin jumped 3% to $27,921 on Oct 2 after trading above the $28,000 mark for most of the session, its highest level since Aug 17. Also, Ethereum crossed the $1,700 mark on the same day before giving up most of its gains.\nUnderstandably, after a dull August and September, October is also expected to remain volatile as investors remain concerned about a slowing economy.\nInflation continues to be stubbornly high despite a sharp decline over the past year and much above the Fed’s target of 2%. To make things worse, crude oil prices have been rising over the past month.\nCrude oil prices reached their highest settlement level for the year in the last week of September. This surge in oil prices has raised concerns among investors as it will impact transportation costs, leading to an overall increase in the aggregate price level.\nSoaring crude oil prices have made the Fed’s job even more difficult as it struggles to curb multi-decade high inflation.\nNVIDIA Corp.is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence and the mining or production of cryptocurrencies.\nNVIDIA’s expected earnings growth rate for the current year is 219.5%. The Zacks Consensus Estimate for current-year earnings has improved 39.3% over the last 60 days. NVIDIA presently sports a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.\nVisa Inc.is taking a significant step toward modernizing cross-border money movement. In a move aimed at enhancing the efficiency of global transactions, V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain. This expansion of V includes collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments.\nVisa Inc.’s expected earnings growth rate for the current year is 15.3%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 90 days. V currently has a Zacks Rank #2 (Buy).\nBlock, Inc.is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors.\nBlock’s expected earnings growth rate for the current year is 69%. The Zacks Consensus Estimate for current-year earnings has improved 2.4% over the last 60 days. SQ presently has a Zacks Rank #3 (Hold).\nRobinhood Markets, Inc.operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform.\nRobinhood Markets expected earnings growth rate for the current year is 57.3%.The Zacks Consensus Estimate for current-year earnings has improved 19.4% over the last 90 days. Robinhood Markets currently has a Zacks Rank #3.\nSince 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of+46.4%, +49.5%and+55.2%per year. Today you can access their live picks without cost or obligation.\nSee Stocks Free >>\nMedia Contact\nZacks Investment Research\n800-767-3771 ext. 9339\[email protected]\nhttps://www.zacks.com\nPast performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\nVisa Inc. (V) : Free Stock Analysis Report\nNVIDIA Corporation (NVDA) : Free Stock Analysis Report\nBlock, Inc. (SQ) : Free Stock Analysis Report\nRobinhood Markets, Inc. (HOOD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research", 'LAS VEGAS, October 06, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), today announced that its wholly owned subsidiary, Sentinum, Inc. (" Sentinum "), has reached an impressive milestone of $46 million in Bitcoin mining revenue since the inception of its mining endeavors. Notably, Sentinum mined 139 Bitcoins in the month of September 2023 alone. Ault Alliance has consistently believed in the transformative power of Bitcoin and blockchain technology. This steadfast commitment to Bitcoin mining has proven fruitful, as today’s results clearly showcase. The Company is pleased with Sentinum’s operations and remains firmly convinced of Bitcoin’s status as a robust, future-ready currency, also highlighting its potency as a hedge against inflation and the declining value of the dollar. William B. Horne, Chief Executive Officer of Ault Alliance, remarked, "Today’s numbers are a testament to the dedication and relentless effort of the Sentinum team. The experience we have gained developing and operating data centers, mining Bitcoin and providing hosting services further solidifies our commitment to disruptive technologies such as blockchain and artificial intelligence." Ault Alliance is in process of enlarging its footprint in the realm of data centers to support high performance computing with bespoke solutions. This expansion is expected to be executed via the development of the Company’s planned data center projects in Montana and Texas, in addition to augmenting its existing facility in Michigan. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Story continues Forward Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231006834018/en/ Contacts Ault Alliance Investor Contact [email protected] or 1-888-753-2235', 'LAS VEGAS, October 06, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), today announced that its wholly owned subsidiary, Sentinum, Inc. (" Sentinum "), has reached an impressive milestone of $46 million in Bitcoin mining revenue since the inception of its mining endeavors. Notably, Sentinum mined 139 Bitcoins in the month of September 2023 alone. Ault Alliance has consistently believed in the transformative power of Bitcoin and blockchain technology. This steadfast commitment to Bitcoin mining has proven fruitful, as today’s results clearly showcase. The Company is pleased with Sentinum’s operations and remains firmly convinced of Bitcoin’s status as a robust, future-ready currency, also highlighting its potency as a hedge against inflation and the declining value of the dollar. William B. Horne, Chief Executive Officer of Ault Alliance, remarked, "Today’s numbers are a testament to the dedication and relentless effort of the Sentinum team. The experience we have gained developing and operating data centers, mining Bitcoin and providing hosting services further solidifies our commitment to disruptive technologies such as blockchain and artificial intelligence." Ault Alliance is in process of enlarging its footprint in the realm of data centers to support high performance computing with bespoke solutions. This expansion is expected to be executed via the development of the Company’s planned data center projects in Montana and Texas, in addition to augmenting its existing facility in Michigan. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Story continues Forward Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231006834018/en/ Contacts Ault Alliance Investor Contact [email protected] or 1-888-753-2235', 'LAS VEGAS, October 06, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), today announced that its wholly owned subsidiary, Sentinum, Inc. (" Sentinum "), has reached an impressive milestone of $46 million in Bitcoin mining revenue since the inception of its mining endeavors. Notably, Sentinum mined 139 Bitcoins in the month of September 2023 alone. Ault Alliance has consistently believed in the transformative power of Bitcoin and blockchain technology. This steadfast commitment to Bitcoin mining has proven fruitful, as today’s results clearly showcase. The Company is pleased with Sentinum’s operations and remains firmly convinced of Bitcoin’s status as a robust, future-ready currency, also highlighting its potency as a hedge against inflation and the declining value of the dollar. William B. Horne, Chief Executive Officer of Ault Alliance, remarked, "Today’s numbers are a testament to the dedication and relentless effort of the Sentinum team. The experience we have gained developing and operating data centers, mining Bitcoin and providing hosting services further solidifies our commitment to disruptive technologies such as blockchain and artificial intelligence." Ault Alliance is in process of enlarging its footprint in the realm of data centers to support high performance computing with bespoke solutions. This expansion is expected to be executed via the development of the Company’s planned data center projects in Montana and Texas, in addition to augmenting its existing facility in Michigan. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Story continues Forward Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231006834018/en/ Contacts Ault Alliance Investor Contact [email protected] or 1-888-753-2235', 'The European Securities and Markets Authority (ESMA) is seeking feedback on the second consultation paper on the Markets in Crypto-Assets (MiCA) bill, published on Thursday. See related article: Binance ICO raised less than US$5 mln: Forbes Fast Facts The market regulator is seeking feedback until December 14, in five key areas: sustainability indicators of distributed ledgers, inside information disclosures, white paper requirements, trade transparency measures and record-keeping requirements for crypto service providers. To enhance post-trade transparency, ESMA proposed service providers report trading and publication date and time, quantity of the crypto asset, pricing information, venue of execution and transaction ID. After receiving feedback on the 307-page document , the ESMA plans to submit a final paper with the draft technical standard to the European Commission for endorsement by June 30, 2024. The regulator also plans to publish a third consultation paper in the first MiCA is the European Union’s legal framework for regulating digital assets. The bill requires crypto firms and exchanges to secure a license to operate across the bloc, while mandating that stablecoin issuers hold suitable reserves. The Official Journal of the European Union published the MiCa bill on June 9. Its provisions will apply from Dec. 30, 2024. See related article: What Europe’s new spot Bitcoin ETF means for global markets', 'The European Securities and Markets Authority (ESMA) is seeking feedback on the second consultation paper on the Markets in Crypto-Assets (MiCA) bill, published on Thursday.\nSee related article:Binance ICO raised less than US$5 mln: Forbes\n• The market regulator isseekingfeedback until December 14, in five key areas: sustainability indicators of distributed ledgers, inside information disclosures, white paper requirements, trade transparency measures and record-keeping requirements for crypto service providers.\n• To enhance post-trade transparency, ESMA proposed service providers report trading and publication date and time, quantity of the crypto asset, pricing information, venue of execution and transaction ID.\n• After receiving feedback on the 307-pagedocument, the ESMA plans to submit a final paper with the draft technical standard to the European Commission for endorsement by June 30, 2024. The regulator also plans to publish a third consultation paper in the first\n• MiCA is the European Union’s legal framework for regulating digital assets. The bill requires crypto firms and exchanges to secure a license to operate across the bloc, while mandating that stablecoin issuers hold suitable reserves.\n• The Official Journal of the European Unionpublished the MiCa billon June 9. Its provisions will apply from Dec. 30, 2024.\nSee related article:What Europe’s new spot Bitcoin ETF means for global markets', "The cryptocurrency market has regained its glory this year. Last year was disappointing as the Fed pursued aggressive monetary control with a massive hike in the benchmark lending rate to combat 40-year high inflation. However, the cryptocurrency market has remained rangebound in the past 10 weeks as market participants are concerned about the Fed’s policy prescriptions. In his post-FOMC meeting statement in September, Fed Chairman Jerome Powell warned of one more rate hike of 25 basis points by the end of this year and a higher interest rate regime for a longer-than-expected period. A high interest rate is detrimental to growth assets like technology stocks, consumer discretionary stocks and cryptocurrencies. Tighter monetary control also raised concerns that the economy may fall into a recession in the near future. Following Powell’s warning, the yield on the benchmark 10-Year U.S. Treasury Note jumped to 4.8% this week, a level last seen just before the financial crisis of 2008. This yield is of immense importance as it reflects market participants’ perception about the country’s economic conditions affecting consumers, corporations and government agencies. The fear of a recession in the near future, which almost evaporated just two and a half months ago following a steady decline in the inflation rate and reduction of the magnitude and frequency of interest rate hikes by the central bank, has suddenly erupted in the past three weeks. Major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE) and BNB (BNB) are also bearing the brunt of it. Stocks to Watch NVIDIA Corp. NVDA is a semiconductor industry giant and one of the biggest success stories of 2023. Being a leading designers of graphic processing units (GPUs), the NVDA stock usually soars on a booming crypto market. This is because GPUs are pivotal to data centers, artificial intelligence, and the creation of crypto assets. NVIDIA’s expected earnings growth rate for the current year is more than 100% (ending January 2024). The Zacks Consensus Estimate for its current-year earnings has improved 2% over the last 30 days. NVDA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here . Visa Inc. V is taking a significant step toward modernizing cross-border money movement. In a move aimed at enhancing the efficiency of global transactions, V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain. This expansion of V includes collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments. Story continues Visa has an expected earnings growth rate of 13% for the current year (ending September 2024). The Zacks Consensus Estimate for current-year earnings has improved 0.1% over the last 30 days. V currently carries a Zacks Rank #2 (Buy). Coinbase Global Inc. COIN provides financial infrastructure and technology for the crypto economy in the United States and internationally. COIN offers the primary financial account in the crypto space for consumers, a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global has an expected earnings growth rate of 84.8% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 30% over the last 90 days. COIN currently carries a Zacks Rank #3 (Hold). Block Inc. SQ is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors. Block has an expected earnings growth rate of 69% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 2.4% over the last 30 days. SQ currently carries a Zacks Rank #3. CME Group Inc. ’s CME options give the buyer of the call/put the right to buy/sell cryptocurrency futures contract at a specific price at some future date. CME offers bitcoin and ether options based on the exchange's cash-settled standard and micro BTC and ETH futures contracts. CME Group has an expected earnings growth rate of 69% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the last seven days. CME currently carries a Zacks Rank #3. The chart below shows the price performance of our five above-mentioned stocks in the past three months. Zacks Investment Research Image Source: Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CME Group Inc. (CME) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments", "The cryptocurrency market has regained its glory this year. Last year was disappointing as the Fed pursued aggressive monetary control with a massive hike in the benchmark lending rate to combat 40-year high inflation.\nHowever, the cryptocurrency market has remained rangebound in the past 10 weeks as market participants are concerned about the Fed’s policy prescriptions. In his post-FOMC meeting statement in September, Fed Chairman Jerome Powell warned of one more rate hike of 25 basis points by the end of this year and a higher interest rate regime for a longer-than-expected period.\nA high interest rate is detrimental to growth assets like technology stocks, consumer discretionary stocks and cryptocurrencies. Tighter monetary control also raised concerns that the economy may fall into a recession in the near future.\nFollowing Powell’s warning, the yield on the benchmark 10-Year U.S. Treasury Note jumped to 4.8% this week, a level last seen just before the financial crisis of 2008. This yield is of immense importance as it reflects market participants’ perception about the country’s economic conditions affecting consumers, corporations and government agencies.\nThe fear of a recession in the near future, which almost evaporated just two and a half months ago following a steady decline in the inflation rate and reduction of the magnitude and frequency of interest rate hikes by the central bank, has suddenly eru
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-06
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $545,478,997,875
- Hash Rate: 455914820.74455184
- Transaction Count: 298650.0
- Unique Addresses: 679001.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin and Ether were little changed on Tuesday morning in Asia, while other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA led the gains following bullish comments from founder Charles Hoskinson. He predicted a surge in price past both Ether and Bitcoin. Solana’s SOL posted more losses, despite last week’s news of Solana Pay’s tie-up with Shopify. Analysts expect the generally downbeat summer mood in the crypto market to pick up in fall. Elsewhere, the Forkast 500 NFT Index continued to decline, reflecting more bad news for the NFT industry. The U.S. Securities and Exchange Commission (SEC) announced Monday it has charged L.A.-based media company Impact Theory LLC with securities violations related to its offering of NFTs. Meanwhile, U.S. equity futures were trading flat after Monday’s gains. Summer blues Bitcoin edged down 0.12% for the last 24 hours to US$26,050.51 as of 07:00 a.m. in Hong Kong. The token is down 0.30% for the week, according to CoinMarketCap data . The world’s leading cryptocurrency reached a high of US$26,198.58 in the early hours of the morning before falling back. Ether also dipped 0.40% to US$1,650.23 for a 0.99% weekly loss. “There might be another selloff taking place, but currently we’ve experienced the standard August and September correction, through which it seems likely that we won’t be continuing that fall for long and rather have an upwards trend from here on out,” Michaël van de Poppe, CEO of Amsterdam-based crypto trading company MN Trading, said via email. Van de Poppe’s comments were in line with a report by JPMorgan Chase & Co. that forecast “limited downside” for the crypto market as losses slow. The U.S. banking giant’s analysts found a drop in the number of Bitcoin-linked futures contracts on exchanges that are yet to be settled — a sign that downward price movement is losing its momentum. “We’ll be having a potential run from here,” Van de Poppe said in a weekend tweet. “This rally should most likely occur in Q4 of 2023, during a good period for crypto markets (October-December tend to be this).” Story continues Did #Bitcoin bottom on this correction or are we expecting $20K? The Million Dollar question is whether #Bitcoin is done on this correction, or whether we'll see more pain. If you'd ask people before the drop, you'd be getting a more bullish answer. If you'd ask people right… pic.twitter.com/9niq2jhw5k — Michaël van de Poppe (@CryptoMichNL) August 26, 2023 Van de Poppe pointed to Bitcoin’s next halving event, which is expected to occur on April 16, 2024, as a cause for optimism from the fourth quarter of this year. The halving event will see the amount of new Bitcoin issued every 10 minutes cut in half, increasing its scarcity. This is widely anticipated to produce a surge in the token’s price. He also highlighted this week’s release in the U.S. of employment data and the purchasing managers’ index as further potential boosts for Bitcoin’s price. The SEC’s decision on Bitcoin exchange-traded fund applications from investment heavyweights BlackRock, Fidelity and others will also play a role, Van de Poppe said. Some of those decisions could be made as early as Saturday. Other top 10 non-stablecoin cryptocurrencies traded mixed. Cardano’s ADA led the winners, rising 1.46% to US$0.2669 for a weekly gain of 1.24%. Cardano blockchain founder Charles Hoskinson, appearing at Denver-based conference Rare Evo on Saturday, predicted that ADA will overtake Bitcoin and Ethereum to become the world’s largest cryptocurrency. ADA is currently the world’s seventh largest crypto, with a market capitalization of US$9.36 billion. Meanwhile, Solana’s SOL led the losers. It fell 1.35% to US$20.50 for a weekly loss of 3.61%. Those losses arrived despite the news that Solana Pay — a free-to-use payment protocol built on the Solana blockchain — has partnered with Canada-based e-commerce platform Shopify to allow USDC stablecoin payments for online shopping without intermediary fees. The token gained briefly on Aug. 24, the day of the Solana Pay announcement. It added 7% to US$21.98 before falling back. Benjamin Stani, director of business development at Hong Kong-based digital asset broker Matrixport, said that the integration of Solana with a mainstream shopping app was a minor victory for the industry and wouldn’t have much effect on markets. “This is just another step towards stablecoins going mainstream in line with PayPal’s PYUSD,” he said. He added that, while good news for Solana, its “not really a major breakthrough.” Prepare for an NFT bloodbath The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam , a sister company of Forkast.News under the Forkast.Labs umbrella. The main Forkast 500 NFT index fell 0.16% over the past 24 hours to 2,240.52 as of 7:30 a.m. in Hong Kong, down 3.25% for the week. Forkast’s Ethereum, Polygon and Cardano indexes moved down, while the Solana index rose. The NFT industry was reacting Tuesday to more bad regulatory news from the U.S.. The SEC announced Monday it has charged Los Angeles-based media company Impact Theory with offering and selling NFTs as unregistered securities. The charges are the first brought by the regulator against an NFT project. The SEC suing Impact Theory for selling NFT securities is a pretty big deal. Because if you take a closer look at the details, the description applies to quite a few NFT projects – probably also to one you are holding right now. pic.twitter.com/75kY0QQIDG — wale.swoosh 🐳 (@waleswoosh) August 28, 2023 According to the SEC, the company earned almost US$30 million by selling digital tokens, known as Founder’s Keys, to hundreds of investors in late 2021. The agency announcement said that, while Impact Theory has not accepted or denied the charges, it has agreed to pay US$6.1 million in fines and to destroy all the Founder’s Keys it controls. “Prepare for a bloodbath in the NFT markets,” wrote Yehudah Petscher, NFT strategist for Forkast Labs. “Surprisingly, the community seems to have been caught largely off guard, which makes me more concerned in the short term about NFTs’ value.” Petscher said he expects the SEC to pursue charges against more NFT projects in the future. NFT prices will plummet as a result, he said, as traders rush out of the market. “This will be how the market finds its bottom, but we are far away from that actually coming into picture,” Petscher added. Total NFT trading volume rose 3.23% in the past 24 hours to US$9.94 million. Volume on Ethereum fell while the other top five chains — Solana, Mythos, ImmutableX and Polygon — all logged increases, according to data from CryptoSlam. In terms of NFT collections, blockchain gaming-based titles occupied the top five positions in CryptoSlam’s ranking. Mythos chain-based DMarket took top spot at US$857,652 in trade volume. It was followed by Gods Unchained, Sorare and DraftKings — all of which posted gains — and PLAYNFT, which dropped 14.90%. Some macro positives Image: Envato Elements U.S. stock futures were trading flat as of 10:20 a.m. in Hong Kong after Monday’s regular session gains. The main Asia stock indexes all rose. Hong Kong’s Hang Seng led the gains with a 1.29% rise on the back of positive developments in both the U.S. and China. The Chinese government, which has been exploring ways to address July’s bearish macroeconomic data, reportedly cut stamp duty on stock trading by 50% on Monday — a first since 2008. Beijing said it also plans to limit the number of new stock listings to help balance supply and demand. However, experts say these measures may not be enough to encourage investors. “If they still feel bearish on the economic recovery of China, then it may be difficult to convince them to buy shares just because of these technical changes,” Jason Lui, head of Asia-Pacific equity and derivative strategy for global markets at BNP Paribas, told The Wall Street Journal. Meanwhile, Federal Reserve chair Jerome Powell used his Jackson Hole speech Friday to say the U.S. economy has grown stronger. However, with inflation still above its 2% target, the Fed will “proceed carefully” on interest rates, he said. An unexpected rise in U.S. treasury yields in July and August could also complicate Fed policy. As of early afternoon trading in Asia, the yield on U.S. 10-year treasury bonds was 4.192% — up from 3.39% at the start of 2023 — a figure some analysts think could lead to further hikes. “Was he hawkish? Yes. But given the jump in yields lately, he wasn’t as hawkish as some had feared,” Ryan Detrick, chief market strategist at the Carson Group, told CNBC. Last week, Reuters reported that Philadelphia Fed President Patrick Harker and Boston Fed President Susan Collins both separately said the jump in bond yields could be positive for the Fed’s efforts to cool inflation. The Fed raised its interest rate to between 5.25% and 5.50% in July, the highest level in 22 years. The CME FedWatch Tool predicts a 21.5% chance for a 25-basis-point rate hike at the Fed’s next meeting in September, up from 14.0% a week ago Investors now look toward U.S. economic data releases later this week, including the personal consumption expenditures price index on Thursday and the labor report Friday. (Updates to add Equities section)...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['STAN HONDA/AFP via Getty Images) US stocks rebounded sharply Friday, after a spike in bond yields in the morning. September\'s jobs report came in hotter than expected, and could indicate higher Federal Reserve rates. The United Auto Workers indicated significant progress in talks with carmakers, helping boost market optimism. US stocks rebounded sharply Friday, reversing an early sell-off triggered by surging Treasury yields and a labor market spike. The September payroll report showed 336,000 positions were added, well above forecasts for 170,000, while unemployment remained at 3.8%. The metric underlines continued economic resiliency, and could force the Federal Reserve to keep raising interest rates. As a result, the bond market sell-off accelerated Friday morning, with the 10-year yield soaring as much as 14 basis points before paring some gains. "Odds of a rate hike in November rose after the latest jobs report, now slightly above a 30% chance. Given the strength in hiring last month, investors and policy makers will put even more emphasis on next week\'s CPI release. Expect some choppy markets in the meantime," Jeffrey Roach, chief economist for LPL Financial said. "Since most of the job gains were in sectors with lower paying jobs, this report is not necessarily giving markets an inflationary signal." Equities found some support in the auto sector, with the United Auto Workers forgoing further strikes thanks to a key concession from General Motors , Bloomberg said. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Friday: S&P 500 : 4,308.50, up 1.18% Dow Jones Industrial Average : 33,407.58, up 0.87% (288.01 points) Nasdaq Composite : 13,431.34, up 1.60% Here\'s what else happened today: Treasury yields could be headed to 6% as the Fed will keep raising interest rates, a research firm said. Income would have to spike 55% for the housing market to be deemed affordable . Drugs like Ozempic are slamming food retailers and producers on worries of lower demand. China isn\'t actually shedding Treasurys — it\'s just diversifying its US debt holdings , a former official said. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil edged up 0.68% to $82.87 a barrel. Brent crude , the international benchmark, gained 0.6% to $84.58 a barrel. Gold inched up 0.47% to $1,830.88 per ounce. The yield on the 10-year Treasury bond climbed 6.4 basis points to 4.78%. Bitcoin rose 2.1% to $27,940.73. Read the original article on Business Insider', '• US stocks rebounded sharply Friday, after a spike in bond yields in the morning.\n• September\'s jobs report came in hotter than expected, and could indicate higher Federal Reserve rates.\n• The United Auto Workers indicated significant progress in talks with carmakers, helping boost market optimism.\nUS stocks rebounded sharply Friday, reversing an early sell-off triggered by surging Treasury yields and a labor market spike.\nThe September payroll report showed 336,000 positions were added, well above forecasts for 170,000, while unemployment remained at 3.8%.\nThe metric underlines continued economic resiliency, and could force the Federal Reserve to keep raising interest rates. As a result, the bond market sell-off accelerated Friday morning, with the 10-year yield soaring as much as 14 basis points before paring some gains.\n"Odds of a rate hike in November rose after the latest jobs report, now slightly above a 30% chance. Given the strength in hiring last month, investors and policy makers will put even more emphasis on next week\'s CPI release. Expect some choppy markets in the meantime," Jeffrey Roach, chief economist for LPL Financial said. "Since most of the job gains were in sectors with lower paying jobs, this report is not necessarily giving markets an inflationary signal."\nEquities found some support in the auto sector, with the United Auto Workers forgoing further strikes thanks to akey concession from General Motors, Bloomberg said.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Friday:\n• S&P 500: 4,308.50, up 1.18%\n• Dow Jones Industrial Average: 33,407.58, up 0.87% (288.01 points)\n• Nasdaq Composite: 13,431.34, up 1.60%\nHere\'s what else happened today:\n• Treasury yields could be headed to 6%as the Fed will keep raising interest rates, a research firm said.\n• Income would have to spike 55% for thehousing market to be deemed affordable.\n• Drugs like Ozempic areslamming food retailers and producerson worries of lower demand.\n• China isn\'t actually shedding Treasurys — it\'s justdiversifying its US debt holdings, a former official said.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil edged up 0.68% to $82.87 a barrel.Brent crude, the international benchmark, gained 0.6% to $84.58 a barrel.\n• Goldinched up 0.47% to $1,830.88 per ounce.\n• The yield on the 10-year Treasury bond climbed 6.4 basis points to 4.78%.\n• Bitcoinrose 2.1% to $27,940.73.\nRead the original article onBusiness Insider', 'Bitcoin (BTC) could be at risk of a short-term reversal following recent price bumps, while the dismal performance of ether (ETH) futures exchange-traded funds (ETF) weighed down on crypto majors.\n“Bitcoin continues to tend to sell on growth, failing to make a fresh attack on the 200-day moving average,” FxPro senior market analyst Alex Kuptsikevich said in a note to CoinDesk. “Bitcoin has recently outperformed the stock market but is now retreating against the buying in the indices.”\n“In the short term, bitcoin seems more at risk of falling than rising,” the trader said, adding ether’s bearish performance did little to boost confidence in top tokens.\nEther and bitcoin were buoyed to one-month highs last week as six ETH ETFs went live in the U.S. earlier on Monday, with traders expecting high demand for the products.\nHowever, theirperformance told a different story. Less than $2 million were traded across the various ETFs on Monday, with poor volumes throughout the week prompting analysts to write down their bullish outlook and pivot to bitcoin investments instead.\nSuch sentiment weighed on prices, with ether losing nearly all gains since the past week, while bitcoin has generally hovered above support levels.\nCrypto majors moved little in the past 24 hours after profit taking earlier this week and a lack of catalysts. Bitcoin slumped 0.5%, ether slipped 1%, while XRP and BNB Chain’s BNB were little changed.\nCardano’s ADA tokens were the only majors in green with a 2.2% price bump. Elsewhere, toncoin (TON) surged 8.8% on no immediately apparent catalyst, while Avalanche’s AVAX tokens continued gains from earlier this week with a 4% jump.', 'Bitcoin (BTC) could be at risk of a short-term reversal following recent price bumps, while the dismal performance of ether (ETH) futures exchange-traded funds (ETF) weighed down on crypto majors.\n“Bitcoin continues to tend to sell on growth, failing to make a fresh attack on the 200-day moving average,” FxPro senior market analyst Alex Kuptsikevich said in a note to CoinDesk. “Bitcoin has recently outperformed the stock market but is now retreating against the buying in the indices.”\n“In the short term, bitcoin seems more at risk of falling than rising,” the trader said, adding ether’s bearish performance did little to boost confidence in top tokens.\nEther and bitcoin were buoyed to one-month highs last week as six ETH ETFs went live in the U.S. earlier on Monday, with traders expecting high demand for the products.\nHowever, theirperformance told a different story. Less than $2 million were traded across the various ETFs on Monday, with poor volumes throughout the week prompting analysts to write down their bullish outlook and pivot to bitcoin investments instead.\nSuch sentiment weighed on prices, with ether losing nearly all gains since the past week, while bitcoin has generally hovered above support levels.\nCrypto majors moved little in the past 24 hours after profit taking earlier this week and a lack of catalysts. Bitcoin slumped 0.5%, ether slipped 1%, while XRP and BNB Chain’s BNB were little changed.\nCardano’s ADA tokens were the only majors in green with a 2.2% price bump. Elsewhere, toncoin (TON) surged 8.8% on no immediately apparent catalyst, while Avalanche’s AVAX tokens continued gains from earlier this week with a 4% jump.', 'Jeremy Grantham. Alison Yin/AP Images for DivestInvest Stocks are in a bubble and could crash by over 50% if it ends badly, Jeremy Grantham says. The elite investor sees house prices falling and predicts a recession will strike next year. Here are his 16 best quotes from a new interview, including comments about bitcoin and AI. Jeremy Grantham floated the possibility of a 50% crash in the S&P 500 , predicted US house prices would drop, and rang the recession alarm during the latest episode of Bloomberg\'s "Merryn Talks Money" podcast. The GMO cofounder and market-bubble historian also slammed bitcoin as a scam, advised against buying US stocks or real estate, and shared his outlook for fossil fuels and artificial intelligence. Here are Grantham\'s 16 best quotes, lightly edited for length and clarity: 1.\xa0"The market suffers from attention deficit disorder, so it always thinks every rally is the beginning of the next great bull market." 2. "If everything works out badly, I would not be amazed if the S&P went to 2,000. That would require a couple of wheels to fall off, and wheels tend to fall off in the great bubbles\' unraveling, but it doesn\'t mean they have to. The S&P would be unlikely not to get to something close to 3,000." 3. "The simple arithmetic suggests you\'ll either have a dismal return forever, or you\'ll have a nice bear market and then a normal return. And the nice bear market will be hopefully less than a 50% decline, but it won\'t be a huge amount less than 50% from the peak in real terms." 4. "You increase the pressure on a very complicated system until a few things snap. That is the pattern — something breaks and nobody seems to know what it is. It\'s always a surprise, but you always have a surprise, so the idea of a surprise is totally unsurprising." 5. "My guess is we will have a recession. I don\'t know whether it will be fairly mild or fairly serious, but it will probably go deep into next year." Story continues 6. "The most vulnerable area in my opinion is the Russell 2000. It often has no collective earnings at all. It has a very high density of zombies — companies that really can only pay their interest payments by issuing more debt. They\'re vulnerable on the debt front, vulnerable on the financial front, and vulnerable on a broad economic front." 7. "An over 40-year period of driving down mortgage rates, of course you drove up house prices all over the world, pretty much. And now the rates have gone up, of course it will drive down." 8. "House prices are worse for the ordinary household. They\'re worse for the economy than stocks because they\'re substantially more broadly owned. It\'s really an important part of the median family\'s income picture and capital picture. The motto should be, \'Don\'t mess with housing.\' The super motto should be, \'Never have a housing bubble at the same time as you have a stock-market bubble.\'" 9. "Although we didn\'t get carried away with ridiculous subprime this time, the multiple of family income actually went higher than it did in 2007. So in terms of actual long-term vulnerability posed by overpricing, this housing market was more overpriced, and it was accompanied by a much more overpriced and classically bubbly stock market than 2007." 10. "Don\'t invest in real estate, don\'t invest in the US. If you have to invest in the US, quality has been the mispriced asset for 100 years. They outperform in bear markets. They underperform in bull markets, because you want to own Tesla, you want to own meme stocks, you want to own what\'s flying. You don\'t want to own Coca-Cola, it\'s just too boring." 11. "When it comes to quality, they have less risk of every kind. They have less debt, they go bankrupt less, they have less volatility, they have a lower beta. Yet they outperform. That is a free lunch." 12. "Bitcoin is, of course, an elaborate scam, really." 13. "Commodities break your heart because just as they\'re doing well, they have a wipeout for 18 months, and then they go roaring back to a new high." 14. "Artificial intelligence is absolutely for real. Is it big enough, soon enough to stop the deflating? No, I don\'t think it is. It\'s a 10-, 20-year, multi-decadal effect going off into the distant future, and it will be potentially vast in its effects." 15. "I\'m not a great believer in economists. They\'ve lost the plot for the last 70 years. They\'ve forgotten their job description, which is to be useful. They drown in assumptions and closed systems, which are largely irrelevant for everything except their reputation inside their industry." 16. "You should not be surprised if the price of oil doesn\'t go over $100 maybe once or twice in the next five years. You should be amazed if the price of oil does not then have a long-term crutch, and it will run down to a level where the Saudis or somebody will be able to grind out $45 oil into the setting sun. That\'s how I think the game will end." Read the original article on Business Insider', '• Stocks are in a bubble and could crash by over 50% if it ends badly, Jeremy Grantham says.\n• The elite investor sees house prices falling and predicts a recession will strike next year.\n• Here are his 16 best quotes from a new interview, including comments about bitcoin and AI.\nJeremy Grantham floated the possibility of a 50% crash in theS&P 500, predicted US house prices would drop, and rang the recession alarm during thelatest episodeof Bloomberg\'s "Merryn Talks Money" podcast.\nThe GMO cofounder and market-bubble historian also slammed bitcoin as a scam, advised against buying US stocks or real estate, and shared his outlook for fossil fuels and artificial intelligence.\n1.\xa0"The market suffers from attention deficit disorder, so it always thinks every rally is the beginning of the next great bull market."\n2. "If everything works out badly, I would not be amazed if the S&P went to 2,000. That would require a couple of wheels to fall off, and wheels tend to fall off in the great bubbles\' unraveling, but it doesn\'t mean they have to. The S&P would be unlikely not to get to something close to 3,000."\n3. "The simple arithmetic suggests you\'ll either have a dismal return forever, or you\'ll have a nice bear market and then a normal return. And the nice bear market will be hopefully less than a 50% decline, but it won\'t be a huge amount less than 50% from the peak in real terms."\n4. "You increase the pressure on a very complicated system until a few things snap. That is the pattern — something breaks and nobody seems to know what it is. It\'s always a surprise, but you always have a surprise, so the idea of a surprise is totally unsurprising."\n5. "My guess is we will have a recession. I don\'t know whether it will be fairly mild or fairly serious, but it will probably go deep into next year."\n6. "The most vulnerable area in my opinion is the Russell 2000. It often has no collective earnings at all. It has a very high density of zombies — companies that really can only pay their interest payments by issuing more debt. They\'re vulnerable on the debt front, vulnerable on the financial front, and vulnerable on a broad economic front."\n7. "An over 40-year period of driving down mortgage rates, of course you drove up house prices all over the world, pretty much. And now the rates have gone up, of course it will drive down."\n8. "House prices are worse for the ordinary household. They\'re worse for the economy than stocks because they\'re substantially more broadly owned. It\'s really an important part of the median family\'s income picture and capital picture. The motto should be, \'Don\'t mess with housing.\' The super motto should be, \'Never have a housing bubble at the same time as you have a stock-market bubble.\'"\n9. "Although we didn\'t get carried away with ridiculous subprime this time, the multiple of family income actually went higher than it did in 2007. So in terms of actual long-term vulnerability posed by overpricing, this housing market was more overpriced, and it was accompanied by a much more overpriced and classically bubbly stock market than 2007."\n10. "Don\'t invest in real estate, don\'t invest in the US. If you have to invest in the US, quality has been the mispriced asset for 100 years. They outperform in bear markets. They underperform in bull markets, because you want to own Tesla, you want to own meme stocks, you want to own what\'s flying. You don\'t want to own Coca-Cola, it\'s just too boring."\n11. "When it comes to quality, they have less risk of every kind. They have less debt, they go bankrupt less, they have less volatility, they have a lower beta. Yet they outperform. That is a free lunch."\n12. "Bitcoin is, of course, an elaborate scam, really."\n13. "Commodities break your heart because just as they\'re doing well, they have a wipeout for 18 months, and then they go roaring back to a new high."\n14. "Artificial intelligence is absolutely for real. Is it big enough, soon enough to stop the deflating? No, I don\'t think it is. It\'s a 10-, 20-year, multi-decadal effect going off into the distant future, and it will be potentially vast in its effects."\n15. "I\'m not a great believer in economists. They\'ve lost the plot for the last 70 years. They\'ve forgotten their job description, which is to be useful. They drown in assumptions and closed systems, which are largely irrelevant for everything except their reputation inside their industry."\n16. "You should not be surprised if the price of oil doesn\'t go over $100 maybe once or twice in the next five years. You should be amazed if the price of oil does not then have a long-term crutch, and it will run down to a level where the Saudis or somebody will be able to grind out $45 oil into the setting sun. That\'s how I think the game will end."\nRead the original article onBusiness Insider', 'It is crucial investors be able to answer the question "What is cryptocurrency?" before jumping into the high-risk space. At the height of the cryptocurrency wave in 2021, investors couldn\'t get enough of the trendy investment and the adjacent blockchain technologies, with many jumping in before they could even answer the question "What is cryptocurrency?". The leader was – and still is – Bitcoin, the world\'s largest cryptocurrency. It hit an all-time high near $68,000 in November 2021. Over the next year, it shed 75% of its value as investors lost confidence in high-risk assets due to the Federal Reserve\'s use of rising interest rates to slow inflation . All cryptocurrencies, including Bitcoin, were hit especially hard by the changing investment climate. Nearly a year later, some sanity has returned to the digital currency market, which makes it an excellent time for Kiplinger to provide a primer for investors unfamiliar with cryptocurrency and the industry behind it. What is cryptocurrency and how does it work? Vanguard is one of the most prominent asset managers in the world. Its website\'s "How to Invest" section provides a good definition of cryptocurrency. "A cryptocurrency is a digital asset stored on blockchain technology that serves as a type of currency or store of value. Unlike traditional currencies, cryptocurrencies aren\'t backed by major governments or developed economies," states the Vanguard website . There\'s that word "blockchain" again. What does blockchain technology have to do with cryptocurrencies? Blockchain technology enables cryptocurrencies like Bitcoin to view and verify transactions between two parties through a decentralized network of users known as nodes. These nodes validate and record these transactions rather than through a single authority or middleman. The Bitcoin blockchain, for example, contains every Bitcoin transaction that\'s ever taken place, divided into blocks. When stacked on each other, these blocks create a chain of blocks, or a blockchain. Story continues "Finding and publishing new blocks is what Bitcoin miners do to earn bitcoins," states a Coinbase help page explaining the Bitcoin blockchain. "Whenever a new block is broadcast, approximately every 10 minutes, a quantity of bitcoins is received by the miner who solved that block. Bitcoin miners keep the network secure, and this is how they are rewarded. This system ensures that all transactions are valid, and keeps the bitcoin network secure from fraud." Why own cryptocurrency? Investors have been asking themselves "Why own cryptocurrency?" ever since Bitcoin was created in 2009. Proponents of the digital asset argue that decentralized finance takes the power of money creation away from central banks and bankers, democratizing the global financial system. Cryptocurrencies are especially effective for transferring funds across borders quickly and efficiently to people living in countries with volatile currencies or significant cross-border restrictions, etc. The other reason to own cryptocurrencies such as Bitcoin is as an investment. There is a school of thought that cryptos provide a hedge against inflation. To be such a beast, they must provide a store of value into the future, meaning they are worth the same or more with time. Further, they must be exchangeable for things like gold, U.S. dollars, etc. Lastly, they must have limited supply increases over time. Bitcoin, for example, has a capped limit of 21 million. There are currently around 20 million Bitcoins. Every 10 minutes, approximately 6.25 bitcoins are mined and put into circulation. The limit is not expected to be reached until 2140. This scarcity may make Bitcoin more expensive as the limit draws closer, but that\'s purely hypothetical. Advantages of cryptocurrency Three of the most significant advantages of cryptocurrency are accessibility, faster transactions and transparency. Cryptocurrency markets operate 24 hours a day, seven days a week. Whether you\'re in your living room at three in the morning in the U.S. or traveling overseas, you can buy and sell digital assets without any concern your crypto exchange will be closed. It\'s always open. The benefits of this accessibility to crypto beginners are debatable. However, cryptocurrencies have always been about democratizing finance. Anyone, anywhere, at any time can make a trade. That\'s what makes it appealing to investors. Market participants have always been interested in faster and, where humanly possible, cheaper transactions. In the case of cryptocurrencies, faster transaction speeds are critical because they influence the overall adoption of cryptocurrencies. "For example, if it takes 10 minutes for a Bitcoin transaction to be confirmed, it may not be practical for buying a cup of coffee," wrote The Baltic Times in an April 2023 article about cryptocurrency scalability and transaction speeds. Transparency is a critical benefit of cryptocurrencies too. Their open-source code provides real-time, accurate results for auditors. That\'s essential for regulators seizing cryptocurrency used in criminal activities. "According to the Financial Action Task Force (FATF), seizure rates of illicit funds within the traditional financial system are around 0.1% – meaning regulators have recaptured about one-thousandth of the funds known to have been used for criminal activity. The seizure rate for crypto: 27%, according to [Uniswap Legal Chief Salman] Banaei," Consensus magazine deputy managing director Daniel Kuhn wrote in April 2023 . Disadvantages of cryptocurrency As a result of this move to decentralize finance, countries such as the U.S. have looked to regulate cryptocurrencies further. In early June 2023, the U.S. Securities and Exchange Commission (SEC) sued Binance and Coinbase Global ( COIN ), the world\'s two largest cryptocurrency exchanges. The SEC\'s lawsuit against Binance accused the company of knowingly operating an unregistered exchange, as well as offering and selling unregistered securities. The complaint against Binance included 12 cryptocurrencies, such as Solana and Polygon. The separate SEC lawsuit against Coinbase claims that it, too, operated an unregistered exchange, offering and selling unregistered securities. "We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions," the SEC said in a statement . If you are new to cryptocurrency, it is crucial to understand that the industry remains in transition. There remain many regulatory challenges from agencies such as the SEC. This makes any investment – including in diversified crypto ETFs – potentially volatile and possessing above-average risk. Related content Invest in Bitcoin? I’m a Bitcoin Loser and I Won’t Be Going Near It Again Bitcoin Mining: How Does it Work and Is It Worth It? 8 Hot Upcoming IPOs to Watch', 'It is crucial investors be able to answer the question "What is cryptocurrency?" before jumping into the high-risk space. At the height of the cryptocurrency wave in 2021, investors couldn\'t get enough of the trendy investment and the adjacent blockchain technologies, with many jumping in before they could even answer the question "What is cryptocurrency?". The leader was – and still is – Bitcoin, the world\'s largest cryptocurrency. It hit an all-time high near $68,000 in November 2021. Over the next year, it shed 75% of its value as investors lost confidence in high-risk assets due to the Federal Reserve\'s use of rising interest rates to slow inflation . All cryptocurrencies, including Bitcoin, were hit especially hard by the changing investment climate. Nearly a year later, some sanity has returned to the digital currency market, which makes it an excellent time for Kiplinger to provide a primer for investors unfamiliar with cryptocurrency and the industry behind it. What is cryptocurrency and how does it work? Vanguard is one of the most prominent asset managers in the world. Its website\'s "How to Invest" section provides a good definition of cryptocurrency. "A cryptocurrency is a digital asset stored on blockchain technology that serves as a type of currency or store of value. Unlike traditional currencies, cryptocurrencies aren\'t backed by major governments or developed economies," states the Vanguard website . There\'s that word "blockchain" again. What does blockchain technology have to do with cryptocurrencies? Blockchain technology enables cryptocurrencies like Bitcoin to view and verify transactions between two parties through a decentralized network of users known as nodes. These nodes validate and record these transactions rather than through a single authority or middleman. The Bitcoin blockchain, for example, contains every Bitcoin transaction that\'s ever taken place, divided into blocks. When stacked on each other, these blocks create a chain of blocks, or a blockchain. Story continues "Finding and publishing new blocks is what Bitcoin miners do to earn bitcoins," states a Coinbase help page explaining the Bitcoin blockchain. "Whenever a new block is broadcast, approximately every 10 minutes, a quantity of bitcoins is received by the miner who solved that block. Bitcoin miners keep the network secure, and this is how they are rewarded. This system ensures that all transactions are valid, and keeps the bitcoin network secure from fraud." Why own cryptocurrency? Investors have been asking themselves "Why own cryptocurrency?" ever since Bitcoin was created in 2009. Proponents of the digital asset argue that decentralized finance takes the power of money creation away from central banks and bankers, democratizing the global financial system. Cryptocurrencies are especially effective for transferring funds across borders quickly and efficiently to people living in countries with volatile currencies or significant cross-border restrictions, etc. The other reason to own cryptocurrencies such as Bitcoin is as an investment. There is a school of thought that cryptos provide a hedge against inflation. To be such a beast, they must provide a store of value into the future, meaning they are worth the same or more with time. Further, they must be exchangeable for things like gold, U.S. dollars, etc. Lastly, they must have limited supply increases over time. Bitcoin, for example, has a capped limit of 21 million. There are currently around 20 million Bitcoins. Every 10 minutes, approximately 6.25 bitcoins are mined and put into circulation. The limit is not expected to be reached until 2140. This scarcity may make Bitcoin more expensive as the limit draws closer, but that\'s purely hypothetical. Advantages of cryptocurrency Three of the most significant advantages of cryptocurrency are accessibility, faster transactions and transparency. Cryptocurrency markets operate 24 hours a day, seven days a week. Whether you\'re in your living room at three in the morning in the U.S. or traveling overseas, you can buy and sell digital assets without any concern your crypto exchange will be closed. It\'s always open. The benefits of this accessibility to crypto beginners are debatable. However, cryptocurrencies have always been about democratizing finance. Anyone, anywhere, at any time can make a trade. That\'s what makes it appealing to investors. Market participants have always been interested in faster and, where humanly possible, cheaper transactions. In the case of cryptocurrencies, faster transaction speeds are critical because they influence the overall adoption of cryptocurrencies. "For example, if it takes 10 minutes for a Bitcoin transaction to be confirmed, it may not be practical for buying a cup of coffee," wrote The Baltic Times in an April 2023 article about cryptocurrency scalability and transaction speeds. Transparency is a critical benefit of cryptocurrencies too. Their open-source code provides real-time, accurate results for auditors. That\'s essential for regulators seizing cryptocurrency used in criminal activities. "According to the Financial Action Task Force (FATF), seizure rates of illicit funds within the traditional financial system are around 0.1% – meaning regulators have recaptured about one-thousandth of the funds known to have been used for criminal activity. The seizure rate for crypto: 27%, according to [Uniswap Legal Chief Salman] Banaei," Consensus magazine deputy managing director Daniel Kuhn wrote in April 2023 . Disadvantages of cryptocurrency As a result of this move to decentralize finance, countries such as the U.S. have looked to regulate cryptocurrencies further. In early June 2023, the U.S. Securities and Exchange Commission (SEC) sued Binance and Coinbase Global ( COIN ), the world\'s two largest cryptocurrency exchanges. The SEC\'s lawsuit against Binance accused the company of knowingly operating an unregistered exchange, as well as offering and selling unregistered securities. The complaint against Binance included 12 cryptocurrencies, such as Solana and Polygon. The separate SEC lawsuit against Coinbase claims that it, too, operated an unregistered exchange, offering and selling unregistered securities. "We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions," the SEC said in a statement . If you are new to cryptocurrency, it is crucial to understand that the industry remains in transition. There remain many regulatory challenges from agencies such as the SEC. This makes any investment – including in diversified crypto ETFs – potentially volatile and possessing above-average risk. Related content Invest in Bitcoin? I’m a Bitcoin Loser and I Won’t Be Going Near It Again Bitcoin Mining: How Does it Work and Is It Worth It? 8 Hot Upcoming IPOs to Watch', 'This news release constitutes a "designated news release" for the purposes of the Company\'s amended and restated prospectus supplement dated August 17, 2023, to its short form base shelf prospectus dated May 1, 2023.\nVancouver, British Columbia--(Newsfile Corp. - October 7, 2023) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE") is pleased to provide an update on its expansion strategy leading up to the 2024 Bitcoin halving. In April of 2024, the Bitcoin halving will occur, cutting daily mining production to approximately 450 Bitcoin per day from 900 per day.\nExecutive Chairman Frank Holmes stated, "When the 2020 halving happened, it caused significant disruptions in the industry. HIVE seized the opportunity by acquiring large Bitcoin mining operations at significant discounts, because much of the industry was overleveraged. We could see a similar situation unfold over the next six months, and if it does, HIVE will be ready."\nHIVE\'s Lachute, Quebec, Bitcoin mining facility is an excellent example of HIVE\'s strategic acquisitions around the 2020 halving. The Lachute operation was acquired in the spring of 2020. The property is located in a cool climate with plentiful and low-cost renewable energy. Since the acquisition, HIVE has continually upgraded the mining hardware and expanded the facility.\nRami Janashvili, who built Lachute from its origins in 2016, grew the facility to be the largest crypto-mine in Canada at the time, during the Bitmain S9 Antminer miner era, with 18,000 S9 miners operating.\nRami is a former Israeli military parachutist, and today he still enjoys the study and challenge of aerodynamics with his collection of giant-scale remote control airplanes. Rami has developed an immersion mining system at the Lachute facility, in addition to this, his team has built out the heat-recycling system, where the heat energy from the Bitcoin mining operation is used to warm a neighboring facility, an approximately 200,000 sft swimming pool manufacturing building.\nRami expressed warmly "Everything is teamwork, and that is where the success comes from. I\'m very proud of my team and we have increased Lachute from 500 PH/s earlier this year to over 1 EH/s now".\nAydin Kilic, President & CEO of HIVE, said of the Lachute purchase, "In the month of September 2023 we hit a milestone, where our facility in Lachute, Quebec surpassed 1 EH/s of Bitcoin mining capacity. This is a landmark achievement, as HIVE initially acquired this 30 MW facility in 2020, when it had a hashrate of approximately 250 PH/s. Therefore, we are very proud to see Lachute quadruple its hashrate under HIVE\'s ownership, with the original team kept intact. This is a testament of our company culture of excellence, where we strive to seamlessly integrate our operations globally allowing to be a top-performing Bitcoin miner. Additionally, this is now the second facility HIVE operates which is over 1 EH/s, the other being our facility in New Brunswick."\nHIVE\'s Executive Chairman Frank Holmes added, "As the halving approaches HIVE will continue to make opportunistic investments, such as the 1,000 Bitmain S19k Pro miners we announced on October 6, 2023. But we\'re only buying at prices that we expect to have rapid ROI, preferably pre-halving. We\'ve done a good job at maintaining discipline and will continue that trend."\nFigure 1: Heat Recapture System at Lachute: heat is transferred through the piping systemTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/183261_e424a97b04d9aaa1_001full.jpg\nFigure 2: Immersion Mining System at LachuteTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/183261_e424a97b04d9aaa1_002full.jpg\nFor more information and to register to HIVE\'s mailing list, please visitwww.HIVEdigitaltechnologies.com. Follow@HIVEDigitalTechon Twitter and subscribe toHIVE\'s YouTube channel.\nOn Behalf of HIVE Digital Technologies Ltd.\n"Frank Holmes"Executive Chairman\nFor further information please contact:Frank HolmesTel: (604) 664-1078\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release\nForward-Looking Information\nExcept for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.\nFactors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, the volatility of the digital currency market; the Company\'s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company\'s operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company\'s ability to utilize the Company\'s at-the-market equity offering program (the "ATM Program") and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company\'s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company\'s profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company\'s disclosure documents under the Company\'s filings atwww.sec.gov/EDGARandwww.sedarplus.com.\nThe forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company\'s objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company\'s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.\nTo view the source version of this press release, please visithttps://www.newsfilecorp.com/release/183261', 'This news release constitutes a "designated news release" for the purposes of the Company\'s amended and restated prospectus supplement dated August 17, 2023, to its short form base shelf prospectus dated May 1, 2023.\nVancouver, British Columbia--(Newsfile Corp. - October 7, 2023) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE") is pleased to provide an update on its expansion strategy leading up to the 2024 Bitcoin halving. In April of 2024, the Bitcoin halving will occur, cutting daily mining production to approximately 450 Bitcoin per day from 900 per day.\nExecutive Chairman Frank Holmes stated, "When the 2020 halving happened, it caused significant disruptions in the industry. HIVE seized the opportunity by acquiring large Bitcoin mining operations at significant discounts, because much of the industry was overleveraged. We could see a similar situation unfold over the next six months, and if it does, HIVE will be ready."\nHIVE\'s Lachute, Quebec, Bitcoin mining facility is an excellent example of HIVE\'s strategic acquisitions around the 2020 halving. The Lachute operation was acquired in the spring of 2020. The property is located in a cool climate with plentiful and low-cost renewable energy. Since the acquisition, HIVE has continually upgraded the mining hardware and expanded the facility.\nRami Janashvili, who built Lachute from its origins in 2016, grew the facility to be the largest crypto-mine in Canada at the time, during the Bitmain S9 Antminer miner era, with 18,000 S9 miners operating.\nRami is a former Israeli military parachutist, and today he still enjoys the study and challenge of aerodynamics with his collection of giant-scale remote control airplanes. Rami has developed an immersion mining system at the Lachute facility, in addition to this, his team has built out the heat-recycling system, where the heat energy from the Bitcoin mining operation is used to warm a neighboring facility, an approximately 200,000 sft swimming pool manufacturing building.\nRami expressed warmly "Everything is teamwork, and that is where the success comes from. I\'m very proud of my team and we have increased Lachute from 500 PH/s earlier this year to over 1 EH/s now".\nAydin Kilic, President & CEO of HIVE, said of the Lachute purchase, "In the month of September 2023 we hit a milestone, where our facility in Lachute, Quebec surpassed 1 EH/s of Bitcoin mining capacity. This is a landmark achievement, as HIVE initially acquired this 30 MW facility in 2020, when it had a hashrate of approximately 250 PH/s. Therefore, we are very proud to see Lachute quadruple its hashrate under HIVE\'s ownership, with the original team kept intact. This is a testament of our company culture of excellence, where we strive to seamlessly integrate our operations globally allowing to be a top-performing Bitcoin miner. Additionally, this is now the second facility HIVE operates which is over 1 EH/s, the other being our facility in New Brunswick."\nHIVE\'s Executive Chairman Frank Holmes added, "As the halving approaches HIVE will continue to make opportunistic investments, such as the 1,000 Bitmain S19k Pro miners we announced on October 6, 2023. But we\'re only buying at prices that we expect to have rapid ROI, preferably pre-halving. We\'ve done a good job at maintaining discipline and will continue that trend."\nFigure 1: Heat Recapture System at Lachute: heat is transferred through the piping systemTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/183261_e424a97b04d9aaa1_001full.jpg\nFigure 2: Immersion Mining System at LachuteTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/183261_e424a97b04d9aaa1_002full.jpg\nFor more information and to register to HIVE\'s mailing list, please visitwww.HIVEdigitaltechnologies.com. Follow@HIVEDigitalTechon Twitter and subscribe toHIVE\'s YouTube channel.\nOn Behalf of HIVE Digital Technologies Ltd.\n"Frank Holmes"Executive Chairman\nFor further information please contact:Frank HolmesTel: (604) 664-1078\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release\nForward-Looking Information\nExcept for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.\nFactors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, the volatility of the digital currency market; the Company\'s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company\'s operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company\'s ability to utilize the Company\'s at-the-market equity offering program (the "ATM Program") and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM P
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-07
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $545,597,853,875
- Hash Rate: 487258964.67073977
- Transaction Count: 244567.0
- Unique Addresses: 596825.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.49
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin inched up in Monday afternoon trade in Asia and continued to hover around the US$29,000 mark. Ethereum and most other top 10 non-stablecoin cryptocurrencies by market capitalization were little changed, except Dogecoin and Solana. Most Asian stock markets fell on China’s economic recovery concerns. U.S. stock futures dropped while European bourses traded mixed.
See related article:FTX founder Sam Bankman-Fried jailed for witness interference
Bitcoin inched up 0.04% in the last 24 hours to US$29,393 at 4 p.m. in Hong Kong, bringing its weekly gains to 1.24%, according to CoinMarketCapdata. At the same time, the world’s largest cryptocurrency’s market capitalization dropped 0.03% to US$571.67 billion.
“Bitcoin prices have been pinned at US$29,000 for three weeks, refusing to decline, despite the correction in some large-cap technology stocks – Apple, Nvidia, and Microsoft,” Markus Thielen, head of research and strategy at digital asset service platform Matrixport, said in an emailed statement on Thursday.
“Two significant catalysts are supporting Bitcoin and Ethereum prices into year-end: the potential SEC approval for a U.S.-listed physical Bitcoin ETF and Ethereum’s EIP-4844 upgrade, which is expected in Q4 2023,” Thielen added.
Ethereum, the second-largest cryptocurrency, dropped 0.02% to US$1,848 in the past 24 hours.
Ethereum’sEIP-4844 upgrade, with the introduction of ‘blobs’ of data – a new transaction type – is expected to reduce transaction fees and increase transaction throughput.
In June,BlackRockand a number of major U.S. financial institutions filed applications with the U.S. Securities and Exchange Commission (SEC) to create spot Bitcoin ETFs. The SEC was expected to announce its decision onArk Investment’sspot Bitcoin ETF application on Aug. 13. However, the regulator said in aFriday filingthat it will solicit public comment on the ETF proposal, effectively pushing back the deadline.
“More SEC responses will also be expected during the first week of September, when seven other Bitcoin ETF filings are required to receive a response from the SEC. The possibility is high that several Bitcoin ETFs would be approved in short order, igniting the next leg higher in Bitcoin prices as those ETF providers would spend considerable marketing expenses to draw in retail and institutional capital,” Thielen added.
However, Bitcoin prices could decline by September to about US$26,000 to US$27,000 as the summer lull ends, Thielen cautioned, adding that this could be an attractive buying opportunity for the seasonal rally in the fourth quarter.
“Bitcoin prices would struggle until September before they start their ascent again. This is happening, and our inclination of being very cautious in managing our positions in the short term but we are eying another perfect buying opportunity to prepare for the year-end rally and the expectations for a strong 2024,” he added.
Bitcoin’s nexthalving eventis expected in April 2024, when the amount of new Bitcoin issued is cut in half, increasing its scarcity and pushing up the token’s price.
Dogecoin led losers in the past 24 hours, followed by Solana, although both posted gains on the week. Dogecoin lost 1.90% to US$0.07491 in the last 24 hours but gained 0.32% on the week. At the same time, Solana dropped 1.44% to US$24.39 while gaining 5.59% in the past seven days.
The total crypto market capitalization dropped 0.03% to US$1.17 trillion while market volume gained 47.04% to US$23.76 billion in the past 24 hours.
The indexes are proxy measures of the performance of the global NFT market. They are managed byCryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.
The mainForkast 500 NFTindex fell 0.48% to 2,479.89 in 24 hours to 7.30 p.m. in Hong Kong, but has gained 0.71% in the past seven days.
Forkast’s Ethereum NFT Index, and the indexes measuring the Polygon and Solana NFTs all declined.
Total NFT sales volumes gained 1.45% to US$14,492,874 in the past 24 hours, according to data fromCryptoSlam.
Sales volumes on Ethereum, the largest NFT network, rose 5.51% to US$9.03 million, while Solana, which was second in CryptoSlam’s NFT rankings by sales volume, dropped 7.89% to US$1.09 million in the last 24 hours.
Among NFT collections, Ethereum-based DeGods topped rankings, surging 67.67% in the last 24 hours to US$$948,014. DeGods has launched its “Season 3” digital art collection, which features a more simplistic, pop-art inspired style.
Ethereum-based NFT staple Bored Ape Yacht Club ranked third among collections, dropping 11.24% in the past 24 hours to US$671,890.
Asian equity markets were mostly down on Monday. China’sShenzhen Component, Hong Kong’sHang Seng, Japan’sNikkei, and South Korea’sKospidropped at the end of trading hours, on investor concern after data showed that new bank loans in Chinafell89% in July compared to June, the lowest since late 2009.
“It is a big disappointment, proving the fragile status of the recovery in China,” Kiyong Seong, lead Asia macro strategist at Societe Generale,told Bloomberg.
Investors now await China’s national retail sales and industrial output data — set for release Tuesday — for further indicators of potential deflation.
India’sSensexindex at the Bombay Stock Exchange gained 0.12% on Monday afterannual retail inflationin the world’s most populous nation jumped to 7.44% in July, higher than market forecasts of6.5%, primarily due to a surge in food prices.
U.S. stock futures dropped as of 8.50 p.m. in Hong Kong with the Dow Jones Industrial Average futures, the S&P 500 futures, and the Nasdaq 100 futures all in the red.
Friday’s release of the latest producer price index (PPI) data in the U.S. — a key inflation indicator that monitors selling prices received by domestic producers of goods and services — strengthened for July, with the 0.3% gain slightly higher than the 0.2%forecastby analysts.
“We’re now starting to see the drag effects on the U.S. economy with households and businesses becoming considerably more prudent. In addition, investors are becoming more and more concerned that additional hikes [in interest rates] could steer the U.S. economy into a major recession,” Nigel Green, the CEO and founder of the deVere investment advisory group, said in emailed comments on Thursday.
The Federal Reserve, the U.S. central bank, meets next on Sept. 19 to decide on interest rates and direction of the economy. Currently, interest rates in the world’s largest economy are between 5.25% to 5.50%, the highest in 22 years.
European bourses were mixed on Monday, with the benchmark STOXX 600 falling while Germany’s DAX 40 strengthened during afternoon trading hours in Europe.
(updates with equities section.)...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["In today's hyperconnected world, the flow of money across borders can be either a lifeline or a chokehold for entire nations. For too long, the global financial system has favored the privileged, leaving many countries in the Global South grappling with economic inequality and the political instability that comes with it. Web3 technologies, however, are routing around the incumbents, with new tools for financial inclusion and economic empowerment. It's a story of transformation, where digital currencies like Bitcoin and USDC are bridging gaps and changing lives. Consider this: Wiring money from Nigeria to Ghana takes longer and costs more than physically driving it across borders. Why? Because traditional wire transfers bounce through New York and London before returning to Africa. Innovators like Nigeria’s Dickson Nsofor have recognized the need for a better way. Nsofor's quest began four years ago when he founded Korapay, a Pan-African payment-infrastructure company. He viewed blockchain and cryptocurrencies as media of exchange, not as speculative assets. That insight led him to create a platform that leveraged these Web3 inventions for cross-border payments. Today, Korapay is the largest cross-border business-to-business remitter in Nigeria. It processes billions in payments through Bitcoin, USDC, and other crypto assets while settling transactions in traditional fiat currencies. Most remarkable, many global companies use Korapay's services to exchange Nigerian naira for U.S. dollars without even knowing they're using cryptocurrencies and stablecoins . This shows how innovators like Nsofor are already retooling the engine of traditional finance from the bottom up. Just why are stablecoins like USDC growing so popular in Africa? The answer lies in the broader context of economic disparities, currency instability, and the desire for financial independence. In Nigeria, for example, over 40% of the population is younger than 15. Young people are embracing cryptocurrencies as a means of transcending the limitations of local currencies. With increased mobile internet penetration, freelancers and gig workers can now opt for payment in digital assets that hold their value better than local fiat currencies subject to hyperinflation and market devaluation. In an interview for my new book, Web3: Charting the Internet’s Next Economic and Cultural Frontier, Nsofor told me how every one of his young Nigerian employees would prefer to get paid in USDC, USDT, or even Bitcoin rather than naira because those assets are a better store of value, and in the case of stablecoins, more useful. Story continues This shift toward dollarization —where locals prefer assets like USDC over fiat money—has implications far beyond financial convenience. It represents a seismic shift in economic opportunity: Individuals can work for internet-native organizations anywhere in the world and accumulate wealth in stable digital assets. Whether the dollarization of these economies will be a net positive to the world is unclear. The collapse of local currencies under dollarization could further destabilize fragile governments in volatile regions. The Central Bank of Nigeria, for instance, initially took a hostile stance toward cryptocurrencies, even proposing a ban. While its leaders have recently hinted at creating a regulatory framework for stablecoins and tokens, the consequences of such moves remain uncertain. Last year, the governor of the Bank of Pakistan, Reza Baqir , told an assembly of business and government leaders in Saudi Arabia that his bank was considering a ban on all digital assets over concerns of dollarization. He was worried that the very bank he ran would cede control over money and interest rates, and was willing to take drastic measures. That ban never took effect, and Baqir is no longer in the job. Despite these challenges, the adoption of digital assets marches on. Even the U.N. High Commissioner for Refugees has turned to blockchain technology to distribute digital cash to displaced persons in war-affected regions like Ukraine. This not only protects the funds but highlights the broader appeal of digital assets. The adoption of cryptocurrencies and blockchain technology in Africa and beyond is more than a financial trend: At first, it's a survival strategy, and then it’s a platform for thriving economically. Above all, it’s a testament to human resilience and innovation in the Global South. Let’s recognize Web3’s potential to create a more inclusive and equitable financial future for all. Alex Tapscott is author of Web3: Charting the Internet’s Next Economic and Cultural Frontier . The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune . This story was originally featured on Fortune.com", "In today's hyperconnected world, the flow of money across borders can be either a lifeline or a chokehold for entire nations. For too long, the global financial system has favored the privileged, leaving many countries in the Global South grappling with economic inequality and the political instability that comes with it. Web3 technologies, however, are routing around the incumbents, with new tools for financial inclusion and economic empowerment. It's a story of transformation, where digital currencies like Bitcoin and USDC are bridging gaps and changing lives. Consider this: Wiring money from Nigeria to Ghana takes longer and costs more than physically driving it across borders. Why? Because traditional wire transfers bounce through New York and London before returning to Africa. Innovators like Nigeria’s Dickson Nsofor have recognized the need for a better way. Nsofor's quest began four years ago when he founded Korapay, a Pan-African payment-infrastructure company. He viewed blockchain and cryptocurrencies as media of exchange, not as speculative assets. That insight led him to create a platform that leveraged these Web3 inventions for cross-border payments. Today, Korapay is the largest cross-border business-to-business remitter in Nigeria. It processes billions in payments through Bitcoin, USDC, and other crypto assets while settling transactions in traditional fiat currencies. Most remarkable, many global companies use Korapay's services to exchange Nigerian naira for U.S. dollars without even knowing they're using cryptocurrencies and stablecoins . This shows how innovators like Nsofor are already retooling the engine of traditional finance from the bottom up. Just why are stablecoins like USDC growing so popular in Africa? The answer lies in the broader context of economic disparities, currency instability, and the desire for financial independence. In Nigeria, for example, over 40% of the population is younger than 15. Young people are embracing cryptocurrencies as a means of transcending the limitations of local currencies. With increased mobile internet penetration, freelancers and gig workers can now opt for payment in digital assets that hold their value better than local fiat currencies subject to hyperinflation and market devaluation. In an interview for my new book, Web3: Charting the Internet’s Next Economic and Cultural Frontier, Nsofor told me how every one of his young Nigerian employees would prefer to get paid in USDC, USDT, or even Bitcoin rather than naira because those assets are a better store of value, and in the case of stablecoins, more useful. Story continues This shift toward dollarization —where locals prefer assets like USDC over fiat money—has implications far beyond financial convenience. It represents a seismic shift in economic opportunity: Individuals can work for internet-native organizations anywhere in the world and accumulate wealth in stable digital assets. Whether the dollarization of these economies will be a net positive to the world is unclear. The collapse of local currencies under dollarization could further destabilize fragile governments in volatile regions. The Central Bank of Nigeria, for instance, initially took a hostile stance toward cryptocurrencies, even proposing a ban. While its leaders have recently hinted at creating a regulatory framework for stablecoins and tokens, the consequences of such moves remain uncertain. Last year, the governor of the Bank of Pakistan, Reza Baqir , told an assembly of business and government leaders in Saudi Arabia that his bank was considering a ban on all digital assets over concerns of dollarization. He was worried that the very bank he ran would cede control over money and interest rates, and was willing to take drastic measures. That ban never took effect, and Baqir is no longer in the job. Despite these challenges, the adoption of digital assets marches on. Even the U.N. High Commissioner for Refugees has turned to blockchain technology to distribute digital cash to displaced persons in war-affected regions like Ukraine. This not only protects the funds but highlights the broader appeal of digital assets. The adoption of cryptocurrencies and blockchain technology in Africa and beyond is more than a financial trend: At first, it's a survival strategy, and then it’s a platform for thriving economically. Above all, it’s a testament to human resilience and innovation in the Global South. Let’s recognize Web3’s potential to create a more inclusive and equitable financial future for all. Alex Tapscott is author of Web3: Charting the Internet’s Next Economic and Cultural Frontier . The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune . This story was originally featured on Fortune.com", 'Singapore, Singapore--(Newsfile Corp. - October 8, 2023) - BMTC today announces the release of a proprietary bridge technology enabling the integration of the forex trading software MT4 with the leading digital assets trading platformOKX, making crypto trading more accessible to non crypto-native traders.\nFor many years, MT4 software has been a prominent tool in forex trading. Its user-friendly interface and stability made it a preferred choice for numerous traders worldwide. However, with the growth of cryptocurrency trading, certain limitations became evident. Traders using MT4 for cryptocurrency trading sometimes face limited liquidity, marked by wide spreads and a 5-day trading window each week.\nBMTC\'s new bridge technology addresses these challenges. It connects MT4 software directly to the OKX exchange, providing traders with improved access to the cryptocurrency market\'s liquidity conditions. With this integration, traders\' funds stay securely in their OKX accounts, allowing them to monitor their fund status and transaction history while utilizing the full range of MT4 software features. This also encompasses the Expert Advisor (EA) function for automated trading, which can enhance trading effectiveness.\nOKX Global Chief Commercial Officer, Lennix Lai, said: "I believe the bridging technology developed by BMTC, which integrates OKX with the MT4 trading software, is particularly promising given the technical similarities between forex and crypto trading. This innovative approach can serve as a conduit between traditional and crypto trading realms. As a result, it stands to unlock many opportunities for traditional traders eager to explore crypto trading."\nAlongside its advanced technology, BMTC is set to launch the first BTC/USDT perpetual contract scalping contest on the MT4 platform in Asia. This contest aims to encourage competition among traders, focusing on trading volume and scalping techniques, elements that might differ from traditional forex broker standards.\nThis contest represents a significant step in integrating the established structure of traditional forex trading with the growing domain of cryptocurrency trading. With this initiative, BMTC demonstrates its commitment to bridging the gap between traditional and crypto markets, providing a comprehensive platform for traders to operate within this dynamic trading environment.\nAbout BMTC\nBMTC is the trade name of Bridge Markets, a Crypto Assets Services Provider registered with the Cyprus Securities and Exchange Commission (CySEC). The company is committed to adhering to the highest standards of compliance and refrains from conducting business with individuals or entities associated with the United States, Russia, Iran, Syria, North Korea, and Cuba.\nDisclaimer\nThis announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.\nFor Media Inquiries\nRobert VickeryEmail:[email protected]:https://bmtc.io/\nTo view the source version of this press release, please visithttps://www.newsfilecorp.com/release/183302', 'Singapore, Singapore--(Newsfile Corp. - October 8, 2023) - BMTC today announces the release of a proprietary bridge technology enabling the integration of the forex trading software MT4 with the leading digital assets trading platform OKX , making crypto trading more accessible to non crypto-native traders. For many years, MT4 software has been a prominent tool in forex trading. Its user-friendly interface and stability made it a preferred choice for numerous traders worldwide. However, with the growth of cryptocurrency trading, certain limitations became evident. Traders using MT4 for cryptocurrency trading sometimes face limited liquidity, marked by wide spreads and a 5-day trading window each week. BMTC\'s new bridge technology addresses these challenges. It connects MT4 software directly to the OKX exchange, providing traders with improved access to the cryptocurrency market\'s liquidity conditions. With this integration, traders\' funds stay securely in their OKX accounts, allowing them to monitor their fund status and transaction history while utilizing the full range of MT4 software features. This also encompasses the Expert Advisor (EA) function for automated trading, which can enhance trading effectiveness. OKX Global Chief Commercial Officer, Lennix Lai, said : "I believe the bridging technology developed by BMTC, which integrates OKX with the MT4 trading software, is particularly promising given the technical similarities between forex and crypto trading. This innovative approach can serve as a conduit between traditional and crypto trading realms. As a result, it stands to unlock many opportunities for traditional traders eager to explore crypto trading." Alongside its advanced technology, BMTC is set to launch the first BTC/USDT perpetual contract scalping contest on the MT4 platform in Asia. This contest aims to encourage competition among traders, focusing on trading volume and scalping techniques, elements that might differ from traditional forex broker standards. This contest represents a significant step in integrating the established structure of traditional forex trading with the growing domain of cryptocurrency trading. With this initiative, BMTC demonstrates its commitment to bridging the gap between traditional and crypto markets, providing a comprehensive platform for traders to operate within this dynamic trading environment. About BMTC BMTC is the trade name of Bridge Markets, a Crypto Assets Services Provider registered with the Cyprus Securities and Exchange Commission (CySEC). The company is committed to adhering to the highest standards of compliance and refrains from conducting business with individuals or entities associated with the United States, Russia, Iran, Syria, North Korea, and Cuba. Story continues Disclaimer This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For Media Inquiries Robert Vickery Email: [email protected] Website: https://bmtc.io/ To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183302 View comments']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-08
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $545,892,283,200
- Hash Rate: 421721209.1887104
- Transaction Count: 242440.0
- Unique Addresses: 557949.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: LAS VEGAS, September 25, 2023 --( BUSINESS WIRE )-- Ault Alliance Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance " or the " Company ") announced today its plans to execute a strategic corporate alignment of the company and its subsidiaries. To adapt to current market dynamics, Ault Alliance has unveiled its strategic plan to restructure its corporate blueprint. This transformation is meant to emphasize the unique strengths and individual growth paths of each subsidiary’s operations. The new structure focuses on three central subsidiaries being Circle 8 Crane Services LLC (" Circle 8 "), Sentinum Inc. (" Sentinum "), and Ault Venture Group. This realignment permits specialized management and resource allocation to each individual subsidiary while preserving the adaptability for possible separations into standalone entities in response to future market dynamics. Circle 8 will continue to focus its attention on supplying premier crane and heavy machinery rental services. Circle 8 is focused on the energy sector and serve a diverse client base in the South Central U.S. Sentinum is positioned to address the surging demand for data center infrastructure to provide colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. With its existing facilities along with its planned buildout of its Montana and Texas sites, Sentinum is well-positioned to deliver top of the line data center solutions. The Company’s Bitcoin mining operations are hosted by Sentinum with 14,599 S19j Pro Antminers and 4,628 S19 XP Antminers in operation. Ault Venture Group will house all other subsidiaries and ventures and serve as the investment cornerstone of Ault Alliance. Notably, Ault Venture Group will house Ault Lending, Ault Global Real Estate Equities, and Ault Alliance’s ownership of other public companies such as The Singing Machine Company, Inc, and BitNile Metaverse, Inc. Story continues After this strategic restructuring, the Company will embark on an extensive assessment of its existing assets and investments to determine potential strategic dispositions. The Company has already begun certain strategic dispositions including the distribution of securities of Imperalis Holding Corp. (OTC: IMHC), d/b/a TurnOnGreen, Inc., the listing for sale of its Midwest hotel portfolio and the upcoming listing of its St. Petersburg, FL multifamily development project. Milton "Todd" Ault III, Executive Chairman of Ault Alliance, shared his thoughts on the Company and this restructuring, stating, "We firmly believe that the current market value of the Company significantly undervalues its true worth. Based on our internal evaluation, we believe the stock price does not reflect the full value and potential the Company holds." The Company plans to use this restructuring as an opportunity to not only evaluate its existing assets, but to focus on fine tuning operations, pushing for efficiency throughout the organization, and strategically position each subsidiary to properly capitalize on their unique growth plans. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20230925683319/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Cryptocurrency prices buckled Monday alongside modest declines in global equity markets and rising oil prices on renewed Middle East turmoil. Bitcoin [BTC] dropped 1.7% over the past 24 hours to $27,500, outperforming most digital assets as crypto investment services firm Matrixport touted the largest crypto asset as "better than digital gold." Bitcoin late Friday and over the weekend seemed primed to challenge a two-month high above $28,400, but was unable to move above $28,200 before sellers finally took over early this morning. The broad CoinDesk Market Index (CMI) was lower by 2%. Ether [ETH] suffered a 2.5% decline as – in addition to macro jitters – the Ethereum Foundation sold $2.7M of tokens on UniSwap. The second largest cryptocurrency by market capitalization extended its losing streak against BTC, dropping to a fresh 15-month low relative to bitcoin. Losses were larger among other altcoins. Ripple Labs-adjacent token [XRP], solana [SOL], Polygon\'s native token [MATIC], Avalanche\'s [AVAX] and popular meme token dogecoin [DOGE] are all lower by 4%-5% over the past 24 hours. Hamas attack on Israel shakes markets The Israel-Hamas conflict extended to its third day on Monday. Fears of the conflict spilling over to neighboring states, such as Iran, seemed to impact oil prices as traders opined it could disrupt supply. “There could be “a pretty dramatic effect on the oil market” should the U.S. enforce sanctions on Iranian exports, Josh Young, chief investment officer of energy investment firm Bison Interests told CNBC . “I think it’s appropriate to see oil, let’s say, [up] about $5 for WTI.” WTI crude oil rose near 3.5% since Sunday to $86.54 per barrel, MarketWatch data shows, extending three-month gains to 16%. Equity markets in Asia closed the day in red and while Europe and U.S. stocks are lower as well, the losses are rather modest with the Stoxx 600 off just 0.25% and the S&P 500 down 0.6%.', 'A bitcoin miner in Washington County is reporting record production as it works to build a 150-megawatt expansion to its facility.\n“We had our best quarter and best fiscal year ever,” said CleanSpark CEO Zach Bradford.\nThe company mined 6,903 bitcoin during its fiscal year, representing the period Oct. 1, 2022, to Sept. 30. CleanSpark sold 80 bitcoin in September at an average of about $26,800 per bitcoin, totaling about $2.2 million.\nBitcoin is the world\'s largest and most popular cryptocurrency, which is a digital currency created by using encryption algorithms. Bitcoins are created, traded and stored in a blockchain, which is a sort of digital transaction ledger.\nTo earn new bitcoins, data validators called "miners" must perform extremely complex math calculations by producing the right multidigit hexadecimal number. When the puzzle is solved, a bitcoin is produced, and another math problem is tackled.\nBitcoin badness:Here\'s how scammers used bitcoin to chisel a Columbia County resident out of $27,500\nCleanSpark also offered an update on its Sandersville expansion. The steel structure and roof for Building 1 are complete and the indoor switchgear – such as fuses and other power conductors – is in place. Structures for Buildings 2 and 3 are in progress, and indoor switchgear has been installed in Building 2.\n"The remaining seven mining buildings are in various stages of construction, from underground conduit installations to slab concrete for the structures and transformers," CleanSpark said in a statement. "No serious delays have been reported and site construction remains on track for year-end completion."\nCleanSpark, which also runs three other Georgia bitcoin mines in Washington, Norcross and College Park, acquired the Sandersville site in October 2022.\nThis article originally appeared on Augusta Chronicle:Cryptocurrency miners are still striking bitcoin near Sandersville', 'A bitcoin miner in Washington County is reporting record production as it works to build a 150-megawatt expansion to its facility.\n“We had our best quarter and best fiscal year ever,” said CleanSpark CEO Zach Bradford.\nThe company mined 6,903 bitcoin during its fiscal year, representing the period Oct. 1, 2022, to Sept. 30. CleanSpark sold 80 bitcoin in September at an average of about $26,800 per bitcoin, totaling about $2.2 million.\nBitcoin is the world\'s largest and most popular cryptocurrency, which is a digital currency created by using encryption algorithms. Bitcoins are created, traded and stored in a blockchain, which is a sort of digital transaction ledger.\nTo earn new bitcoins, data validators called "miners" must perform extremely complex math calculations by producing the right multidigit hexadecimal number. When the puzzle is solved, a bitcoin is produced, and another math problem is tackled.\nBitcoin badness:Here\'s how scammers used bitcoin to chisel a Columbia County resident out of $27,500\nCleanSpark also offered an update on its Sandersville expansion. The steel structure and roof for Building 1 are complete and the indoor switchgear – such as fuses and other power conductors – is in place. Structures for Buildings 2 and 3 are in progress, and indoor switchgear has been installed in Building 2.\n"The remaining seven mining buildings are in various stages of construction, from underground conduit installations to slab concrete for the structures and transformers," CleanSpark said in a statement. "No serious delays have been reported and site construction remains on track for year-end completion."\nCleanSpark, which also runs three other Georgia bitcoin mines in Washington, Norcross and College Park, acquired the Sandersville site in October 2022.\nThis article originally appeared on Augusta Chronicle:Cryptocurrency miners are still striking bitcoin near Sandersville', '“We recognise the potential of DLT and Web 3.0 to become the future of finance and commerce, and under proper regulation they are expected to enhance efficiency and transparency” — so said Mr. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury in October 2022, to announce the territory’s policy statement on the development of virtual assets. Following a path of strategic breadcrumbs through the years leads us right to where Hong Kong finds itself today: well along in its audacious mission to become the epicenter of crypto and Web3 innovation. I’m sure Mr. Hui could never have anticipated the true weight of those words and the level of innovation that would take place in the past year. Hong Kong now supports retail investors trading on licensed crypto exchanges, there are discussions around a regulatory structure for stablecoins, and a dedicated Web3 development task force is up and running. Most importantly, perhaps, founders and developers have clarity on where they can and should focus their efforts. Sensible regulation is now playing its rightful role as a driver of innovation while authorities are cracking down on those operating outside the rules. JPEX, which Hong Kong police allege defrauded investors of HK$1.5 billion , or about US$192 million (at the time of writing), stands as a perfect, timely example. Several arrests and vast seizures clearly show Hong Kong’s strong response. Asia’s role in blockchain development Historically, Asia has long played a leading role in the development of blockchain technology and the digital assets sector as a confluence of factors — including densely populated cities and an increasingly tech-savvy population — spurred demand for more efficient ways to complete financial transactions. Indeed, Asia quickly became a testing ground for financial institutions seeking to test innovations such as blockchain-based letters of credit for commodity shipments. However, blanket approaches to regulation slowed this progress to the point where a large gap in the market presented itself. The West was only too ready to fill this gap, leading to the rise of Western crypto players who, for many outside the blockchain sector, have become synonymous with the industry as a whole. The tide ebbs and flows, as do the forces within the industry. Recent regulatory developments in Western countries, in particular the United States, have sparked a migration of attention , again turning Asia into an attractive investment hub for crypto. A new dawn in Asia Building on its rich financial heritage, Hong Kong is seizing the opportunity. Though late to Web3, Hong Kong is now rapidly catching up and cementing itself as a crypto hub in its own right, attracting investment and employment as it recovers from the impact of Covid-19. In a proactive stance, the Hong Kong government has embarked on an extensive drive for industry development, not only addressing policy considerations but also enacting suitable legislative measures, underscoring a deep commitment to nurture a thriving landscape in which Web3 and crypto enterprises can flourish within a well-defined regulatory framework. Story continues The dominant narrative emanating from the West would lead one to believe that regulating the “Wild West” of crypto is an insurmountable endeavor. Hong Kong regulators, and indeed regulators across Asia, are proving otherwise. The numbers bolster the narrative. Many projects have launched their operations in the city, attracted by regulatory clarity and other factors such as a highly educated and skilled workforce. Hong Kong’s Cyberport, for example, which is managed by the Government and financially supports Web3 companies through its Financial Budget, has already attracted over 190 Web3 firms . Hong Kong’s regulatory drive The digital assets industry is forecast to generate almost US$15 billion annually by 2027 in Asia alone. Recognizing the industry’s vast potential, Hong Kong launched its virtual asset trading platform (VATP) licensing framework this June, outlining clear regulations for exchange operations under the oversight of the Securities and Futures Commission (SFC). As the industry feels the reverberations from its collapse in late 2021, these critical protections are pertinent to ensuring a thriving industry where investors can operate safely. The VATP builds on Hong Kong’s progressive developments. Many countries in the West are still just discussing exchange-traded funds today. In contrast, Hong Kong launched its first ETFs for crypto futures in 2022. Further, the Hong Kong Monetary Authority (again underpinning the inherent relationship between government-level institutions and the crypto industry) aims to introduce a regulatory framework for stablecoins by the end of 2024, while the West has yet to show itself ready to address the topic (for example, we have yet to see a digital euro timeline). The West is preoccupied with trying to define crypto as a security. Hong Kong, alongside its Asian counterparts, has instead moved forward and shown that progressive and — more importantly — effective regulation is possible. Crypto rising in Singapore and Japan While the media spotlight has mainly focused on Hong Kong in recent months, Singapore and Japan are also showcasing to the world how crypto can operate securely under regulatory oversight. Since 2016, Japan’s government has recognized Bitcoin and other cryptocurrencies as types of money. The crypto industry is regulated by the Financial Services Agency, and the Payment Services Act (which provides a regulatory framework for payment services) regards crypto assets as legitimate payment methods. Singapore, once a prime destination for crypto projects, encountered setbacks with incidents such as the downfall of Three Arrows Capital . However, recent developments point to a renewed encouragement by the Singaporean government to foster a strong crypto industry. For example, in August Singapore released a revised regulatory framework aimed at ensuring stability for single-currency stablecoins. Under the Monetary Authority of Singapore (the central bank and financial regulatory authority for the city-state), the framework aims to establish stablecoin use as a “credible digital medium of exchange” for stablecoins pegged to the value of the Singapore dollar or G10 currencies. It also requires stablecoins to maintain a minimum base capital and liquid assets to reduce the risk of insolvency and to enable orderly wind-down of business if necessary. This regulation is clearly on the side of consumers; stablecoin issuers must return par value to holders within five business days of a redemption request. East vs. West In stark contrast with the strides being taken by Asian regulators, looking to the West, the U.K. stands largely alone with its Financial Services and Markets Act, which includes some measures to bring crypto and stablecoins into the scope of regulation. While it is no doubt a step in a positive direction, it lacks the depth and standalone focus required for such a revolutionary industry. The European Union, too, recently adopted a framework in the form of MiCA , which introduces rules for issuers of utility tokens and stablecoins and covers service providers including trading venues and wallets that hold crypto assets. It is laudable that the framework introduces a harmonized regulatory framework in Europe. However, while the framework came into force this June, provisions will only start coming into effect in 2024. Technology develops at pace, and crypto is no exception. Regulation must, to the best of regulators’ abilities, run alongside it. Asia is showing how it can be done, facilitating the crypto revolution under clear regulatory frameworks. Indeed, regulatory requirements invariably emerge in parallel with the maturation and prominence of the crypto industry, underscoring an understanding of its importance. Beyond mere acknowledgment, regulation propels sustained expansion and heightened resilience for the industry. The case is clear: Asia has lifted the shutters and is ready to do business. View comments', '“We recognise the potential of DLT and Web 3.0 to become the future of finance and commerce, and under proper regulation they are expected to enhance efficiency and transparency” —so saidMr. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury in October 2022, to announce the territory’s policy statement on the development of virtual assets. Following a path of strategic breadcrumbs through the years leads us right to where Hong Kong finds itself today: well along in its audacious mission to become the epicenter of crypto and Web3 innovation.\nI’m sure Mr. Hui could never have anticipated the true weight of those words and the level of innovation that would take place in the past year. Hong Kong now supports retail investors trading on licensed crypto exchanges, there are discussions around a regulatory structure for stablecoins, and a dedicated Web3 development task force is up and running. Most importantly, perhaps, founders and developers have clarity on where they can and should focus their efforts.\nSensible regulation is now playing its rightful role as a driver of innovation while authorities arecracking downon those operating outside the rules. JPEX, which Hong Kong police allege defrauded investors ofHK$1.5 billion, or about US$192 million (at the time of writing), stands as a perfect, timely example. Several arrests and vast seizures clearly show Hong Kong’s strong response.\nHistorically, Asia has long played a leading role in the development of blockchain technology and the digital assets sector as a confluence of factors — including densely populated cities and an increasingly tech-savvy population — spurred demand for more efficient ways to complete financial transactions. Indeed, Asia quickly became a testing ground for financial institutions seeking to test innovations such as blockchain-based letters of credit for commodity shipments. However, blanket approaches to regulation slowed this progress to the point where a large gap in the market presented itself. The West was only too ready to fill this gap, leading to the rise of Western crypto players who, for many outside the blockchain sector, have become synonymous with the industry as a whole.\nThe tide ebbs and flows, as do the forces within the industry.Recent regulatory developmentsin Western countries, in particular the United States, have sparked amigration of attention, again turning Asia into an attractive investment hub for crypto.\nBuilding on its rich financial heritage, Hong Kong is seizing the opportunity. Though late to Web3, Hong Kong is now rapidly catching up and cementing itself as a crypto hub in its own right, attracting investment and employment as it recovers from the impact of Covid-19. In a proactive stance, the Hong Kong government has embarked on an extensive drive for industry development, not only addressing policy considerations but also enacting suitable legislative measures, underscoring a deep commitment to nurture a thriving landscape in which Web3 and crypto enterprises can flourish within a well-defined regulatory framework.\nThe dominant narrative emanating from the West would lead one to believe that regulating the “Wild West” of crypto is an insurmountable endeavor. Hong Kong regulators, and indeed regulators across Asia, are proving otherwise.\nThe numbers bolster the narrative. Many projects have launched their operations in the city, attracted by regulatory clarity and other factors such as a highly educated and skilled workforce. Hong Kong’s Cyberport, for example, which is managed by the Government and financially supports Web3 companies through its Financial Budget,has already attracted over 190 Web3 firms.\nThe digital assets industry is forecast to generate almostUS$15 billion annually by 2027in Asia alone. Recognizing the industry’s vast potential, Hong Kong launched its virtual asset trading platform (VATP) licensing framework this June, outlining clear regulations for exchange operations under the oversight of the Securities and Futures Commission (SFC). As the industry feels the reverberations from its collapse in late 2021, these critical protections are pertinent to ensuring a thriving industry where investors can operate safely.\nThe VATP builds on Hong Kong’s progressive developments. Many countries in the West are stilljust discussing exchange-traded fundstoday. In contrast, Hong Kong launched its first ETFs for crypto futures in 2022. Further, the Hong Kong Monetary Authority (again underpinning the inherent relationship between government-level institutions and the crypto industry) aims to introduce a regulatory framework for stablecoins by the end of 2024, while the West has yet to show itself ready to address the topic (for example, we have yet to see a digital euro timeline). The West is preoccupied with trying to define crypto as a security. Hong Kong, alongside its Asian counterparts, has instead moved forward and shown that progressive and — more importantly — effective regulation is possible.\nWhile the media spotlight has mainly focused on Hong Kong in recent months, Singapore andJapanare also showcasing to the world how crypto can operate securely under regulatory oversight. Since 2016, Japan’s government has recognized Bitcoin and other cryptocurrencies as types of money. The crypto industry is regulated by the Financial Services Agency, and the Payment Services Act (which provides a regulatory framework for payment services) regards crypto assets as legitimate payment methods.\nSingapore, once a prime destination for crypto projects, encountered setbacks with incidents such as thedownfall of Three Arrows Capital. However, recent developments point to a renewed encouragement by the Singaporean government to foster a strong crypto industry.\nFor example, in August Singaporereleased a revised regulatory frameworkaimed at ensuring stability for single-currency stablecoins. Under the Monetary Authority of Singapore (the central bank and financial regulatory authority for the city-state), the framework aims to establish stablecoin use as a “credible digital medium of exchange” for stablecoins pegged to the value of the Singapore dollar or G10 currencies. It also requires stablecoins to maintain a minimum base capital and liquid assets to reduce the risk of insolvency and to enable orderly wind-down of business if necessary. This regulation is clearly on the side of consumers; stablecoin issuers must return par value to holders within five business days of a redemption request.\nIn stark contrast with the strides being taken by Asian regulators, looking to the West, the U.K. stands largely alone with its Financial Services and Markets Act, which includes some measures to bring crypto and stablecoins into the scope of regulation. While it is no doubt a step in a positive direction, it lacks the depth and standalone focus required for such a revolutionary industry.\nThe European Union, too, recently adopted a framework in the form ofMiCA, which introduces rules for issuers of utility tokens and stablecoins and covers service providers including trading venues and wallets that hold crypto assets. It is laudable that the framework introduces a harmonized regulatory framework in Europe. However, while the framework came into force this June, provisions will only start coming into effect in 2024.\nTechnology develops at pace, and crypto is no exception. Regulation must, to the best of regulators’ abilities, run alongside it. Asia is showing how it can be done, facilitating the crypto revolution under clear regulatory frameworks.\nIndeed, regulatory requirements invariably emerge in parallel with the maturation and prominence of the crypto industry, underscoring an understanding of its importance. Beyond mere acknowledgment, regulation propels sustained expansion and heightened resilience for the industry.\nThe case is clear: Asia has lifted the shutters and is ready to do business.', 'Take a look at what’s on offer online this week ST JOHN’S, Antigua, October 09, 2023 --( BUSINESS WIRE )-- Juicy Stakes Casino ’s cards are firmly on the table – three awesome October offers. 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Story continues View source version on businesswire.com: https://www.businesswire.com/news/home/20231009978572/en/ Contacts Media Enquiries Alex Spencer Juicy Stakes T: +1 877 833 1271 View comments', 'Take a look at what’s on offer online this week ST JOHN’S, Antigua, October 09, 2023 --( BUSINESS WIRE )-- Juicy Stakes Casino ’s cards are firmly on the table – three awesome October offers. From Blackjack to Bitcoin, there’s something for everyone this week. First on this week’s menu, the famous Blackjack Quest – your chance to tuck into a tasty $75 just by playing Blackjack 21. Take a seat opposite the dealer and if they serve you up a natural blackjack, a coloured blackjack, a club-suited blackjack, and two or more blackjacks in the same game… you’ll bag that bonus. Simply tap to the Tangente tab in Juicy Stakes’ Casino Lobby, load up the card classic and play. You can embark on this week’s Quest from 9th - 15th October. 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Story continues View source version on businesswire.com: https://www.businesswire.com/news/home/20231009978572/en/ Contacts Media Enquiries Alex Spencer Juicy Stakes T: +1 877 833 1271 View comments', 'Take a look at what’s on offer online this week ST JOHN’S, Antigua, October 09, 2023 --( BUSINESS WIRE )-- Juicy Stakes Casino ’s cards are firmly on the table – three awesome October offers. From Blackjack to Bitcoin, there’s something for everyone this week. First on this week’s menu, the famous Blackjack Quest – your chance to tuck into a tasty $75 just by playing Blackjack 21. Take a seat opposite the dealer and if they serve you up a natural blackjack, a coloured blackjack, a club-suited blackjack, and two or more blackjacks in the same game… you’ll bag that bonus. Simply tap to the Tangente tab in Juicy Stakes’ Casino Lobby, load up the card classic and play. You can embark on this week’s Quest from 9th - 15th October. 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Story continues View source version on businesswire.com: https://www.businesswire.com/news/home/20231009978572/en/ Contacts Media Enquiries Alex Spencer Juicy Stakes T: +1 877 833 1271 View comments', 'Delivery of Systems to Major Strategic Defense Customer Will Span 3 Years LAS VEGAS, October 09, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), today announced the awarding of a significant $20 million contract by its majority-owned subsidiary, Giga-tronics, Inc. (OTCQB: GIGA), also known as Gresham Worldwide . Gresham Worldwide, which concentrates in delivering high-performance, tailored electronic solutions for mission-critical applications across the defense, healthcare, telecommunications, and transportation sectors, won the contract to supply bespoke systems from a major strategic customer through its subsidiary, Enertec Systems 2001, Ltd. (" Enertec "). Enertec, located in Israel, is a leading provider of innovative test, simulation, calibration, operational, control, and monitoring systems that support and enable defense, aerospace, and health care applications for over 30 years. Based in Israel, Enertec boasts over 30 years of excellence in crafting innovative systems that cater to the defense, aerospace, and healthcare sectors. This contract underscores a significant advancement with Enertec securing an initial $5 million to procure necessary materials and an additional $1.5 million for immediate system deliveries. These forthcoming orders, set to be executed between 2024 to 2026, are anticipated to bolster Enertec’s backlog, revenue streams, and profitability. To ensure timely and quality deliveries, Enertec is ramping up its recruitment, seeking exceptional engineers and technicians. Zvika Avni, Enertec CEO, stated, "This order is a testament to Enertec’s unique technologies, high-quality offerings and long-standing relationships with customers. We expect to receive additional large orders to deliver similar bespoke solutions for this customer over the next three years." Enertec remains at the forefront with a strong track record of delivering purpose-built electronic solutions to satisfy the most stringent demands from customers worldwide. Enertec is primed to capitalize on the growing demand for electronic test, control, and operational systems and remain competitive. Gresham Worldwide Chief Executive Jonathan Read said, "This new order provides significant validation of our continued investment in Enertec’s business model and growth potential. The Company is well-positioned to execute on this order and subsequent orders to deliver strong, positive results and drive success to our bottom-line for Gresham Worldwide and its investors for years to come. Enertec is one of the largest and most respected defense contractors in Israel and continues to stand ready to support Israel in this time of national emergency." Story continues For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov/ . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com/ . About Gresham Worldwide Gresham Worldwide operates across the US, UK, and Israel, championing technology solutions that enhance and protect lives. Specializing in Defense, Test & Training, Power Electronics, Displays, and RF Systems, the company predominantly supports the Defense & Aerospace sector, while also catering to critical applications in Medical Technology, Transportation, and Telecommunications. Visit Gresham Worldwide at www.greshamworldwide.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com/ . View source version on businesswire.com: https://www.businesswire.com/news/home/20231009662997/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235 View comments', 'Welcome to Future of Finance, whereFortuneasks prominent people at major companies about their jobs, how their firm fits into the crypto ecosystem, and what it all means for how we use money.\nWhenDavid Vélezfirst dreamed up the idea forNubank, he knew he wanted it to be the opposite of when he opened his first bank account in Brazil. The tedious process included long waits at a heavily guarded branch, to which he had to return several times.\nFast forward to 2023 and Nubank has grown into a behemoth in Brazil, with 35 million customers. Nubank’s focus on the customer experience and a mobile-first approach has helped the company garner a$25 billion valuationand become the biggest FinTech company in Latin America. It has also made Vélez the richest man in Colombia, worth an estimated $7 billion,according toForbes.\nVélez says Nubank is also bullish on the potential of the blockchain. The company launched Bitcoin and Ether trading last year, and in March it created its own cryptocurrency, Nucoin.\nFortunecaught up with Vélez to talk about Nubank’s founding story and what’s driving financial innovation in Latin America.\n(This interview has been edited for length and clarity.)\nCould you tell me a little bit more about your early career and where the idea for Nubank came about?\nI began as an investor in private equity with General Atlantic, and then venture capital with Sequoia looking at Latin America. And given the importance of financial services in Latin America, I spent a lot of time looking at the sector. When you try to ask the question, “What are the biggest industries in this region?” banks are generally the answer. Five of the top 10 Brazilian companies are banks, the biggest companies in Mexico are banks, the biggest companies in Colombia are banks, so this is as relevant a market size as it gets. So I was very curious to understand this industry better.\nI also thought it was interesting, the fact that, especially in Brazil, you saw one of the most concentrated banking industries in the world, one of the highest interest rates in the world, one of the highest profitability ratios in the world, in an industry that grew consistently in good times and in bad times. I eventually decided to leave Sequoia to start a business in 2012. Sequoia decided that they were just not that interested in doing venture capital in Latin America at that stage. And I went back to this dream of mine of starting a business, and so went back to financial services.\nAt that point, I had to open a bank account in Brazil when I moved to Brazil, and it was one of the worst experiences I ever imagined—going to the branch, being trapped in this bulletproof door, being escorted by armed policemen, waiting an hour to get attended and later going back to the branch about six times, then waiting five months. Anyway, this was a really awful experience, and that was hard to understand in the context of this being the most profitable industry in Brazil and these being the largest companies in Brazil. I couldn\'t understand why these big companies were treating consumers that way and also leaving about 60 million people completely unbanked. They were not really serving consumers appropriately. Given the growth of smartphone penetration in 2012, 2013, after spending some time thinking about entrepreneurship opportunities, I got very excited about the potential of building a full digital bank.\nCompared with Brazil\'s biggest banks, where did you find specific advantages with Nubank?\nAll of these banks had grown through a lot of acquisitions for decades, and had effectively become a very big oligopoly. It was an industry that was very complacent because there was really no competition. They basically had acquired everybody that could compete with them, and so since there was no competition, there was a lack of access. There were very high prices, the product experience wasn\'t really great; that was number one. Number two, it was a very protected industry. So in the Brazil case, banks even had a protection in the constitution of the country, where the constitution says that foreigners cannot invest in banks. You don\'t see this in almost any other country, where it\'s in the constitution, where you have this protection. They felt very comfortable, very protected.\nAs I started talking to a lot of experts in the industry, it was very apparent to me that there was also a lot of fear to compete with these guys. It almost felt impossible. What I often heard was, "David, you\'re not Brazilian, you\'re Colombian, you have no idea what you\'re doing. It\'s impossible to compete. These banks are too powerful. They\'re too rich. They\'re too well networked. They have too much influence, and so just stop. Don\'t even try it, you\'re about to fail."\nBut I think that I was able to see, first, this consumer pain. It was very clear that people were very dissatisfied with the way banks were serving them, in that they, especially the younger population, were probably more ready to try new products and services. And then, second, technology adoption created that window of opportunity—the smartphone as an entry path toward reaching 100% of the population. You don\'t need branches anymore—branches on every corner—to compete with these banks, and also cloud computing. If three years before I had wanted to start a new bank, I probably would have needed $50 million to buy anIBMmainframe to launch a bank. Suddenly, with a million dollars we were able to launch our first credit cards fully on the cloud through smartphones.\nHow is Nubank thinking about the future of cryptocurrencies?\nFirst, I think we are generally bullish in the future of certain cryptocurrencies as investment products. We are believers in Bitcoin as an asset that consumers should invest behind, and therefore we offer a crypto investing platform. We\'ve always felt a bit that way, especially in markets like Latin America, where you see significant inflation, where you see a lot of devaluation, we\'re believers in offering either Bitcoin or even stablecoins of the U.S. dollar as a way for customers to invest behind and protect their savings.\nSecond, we are also believers in the blockchain generally as a new technology that might open up disruption in several verticals in the economy. We are active participants right now inDREX, this new sovereign digital currency that the central bank of Brazil is beginning. We think that that could actually enable a number of interesting use cases, such as, for example, collateralizing credit card loans, collateralizing a number of our financial products.\nIf you buy, let\'s say specifically, a car or you buy a house, it\'s a very cumbersome and expensive process. It takes maybe five months to buy a house, it takes you several months to buy a car. You\'ve got to go to very expensive, what is called cartorios, which are these government entities that give you certifications. The entire chain is still very antiquated for some of these products, and we think blockchain could be a really interesting technology to reimagine a lot of these verticals.\nCould you talk a bit more about the digital and crypto innovation happening in Latin America?\nThe first wave of startups in Latin America were effectively clones of U.S. startups. You would see theUberof Brazil, theAmazonof Brazil, theGrouponof Brazil. That meant that they weren\'t necessarily solving the big problems. The problems that you have as a Brazilian citizen or a Mexican citizen are very different problems than the problems that you have as a San Francisco citizen. I think a lot of that first wave of entrepreneurship was missing the product of localization, and they weren’t really asking the question, “What are the big, impactful products or problems that we got to solve locally, and forget about the U.S. or forget about Europe?” I think Nubank was maybe the first startup in that second generation where it actually asked the question, “What are the big problems that we need to solve in Latin America?”\nI think we were the first in the second wave that really focused on the local problem. That\'s why Sequoia got excited about investing in this as a seed round. They did not get excited about investing in any of the clones before, but here they saw, “Wow, it\'s low-probability, but if they have a shot, then you are redesigning the single biggest industry in the region.” This is real impact. We were the first one that asked that question and went after a very big market. After us, I think there were a lot of new startups that actually thought very similarly, once they saw that it was actually possible, that you could compete with these big oligopolies. Then more entrepreneurs went and looked at health care and education and consumer goods—a bunch of our industries that felt way out of reach for entrepreneurs in the first wave of startups.\nWhat exactly is Pix, the Brazilian central bank’s instant payment system introduced in 2020, and how is Nubank involved?\nPix is probablythe most successful payment infrastructurerun by a government in history. I think Pix has been what has allowed a country like Brazil to leapfrog developed economies like the U.S. and in Europe, and has positioned Brazil today probably five years ahead of the U.S. I don\'t think anybody understands that, and probably in the U.S. they didn\'t really expect that. But when you look at a system like Pix that has effectively digitalized, or is digitalizing, the entire economy, is digitalizing cash, is increasing financial inclusion, and doing all of this for free 24/7 I think it’s probably the biggest disruption, or one of the biggest disruptions, in financial services in the world.\nThis is happening faster thanIndia UPI, which was already a really successful payment scheme that the Bank of India launched a few years ago. Having been one of the main players in Pix and today being responsible for about 25% of all Pix transactions in the country, we\'ve been able to see firsthand how this has become a vehicle to digitalize the economy and how eventually it will be a way to increase competition in the market, increase user experience, and increase financial inclusion.\nYou mentioned earlier that Nubank is bullish on Bitcoin as an asset, but have your ambitions in the crypto sector faded at all with the recent market downturn?\nI think we arrived at crypto a bit late in the sense that we launched a platform during the Crypto Winter. We didn\'t necessarily jump on the bandwagon when everybody was jumping on the bandwagon, offering up thousands and thousands of different tokens, and thousands and thousands of different things where maybe 98% of them were not real investment assets.\nWe took a very different approach. We\'re a bit late to the game, but we\'re very focused on trying to differentiate what\'s just pure speculation in the crypto world from what is real about the technology. I think there is risk on both ends, thinking that everything makes sense or thinking that nothing makes sense in crypto—you tend to see both extremes. So we have a nuanced approach, and we think there\'s some real technology differentiators around blockchain. We think Bitcoin is differentiated from everything else, and there are a couple of other tokens that make sense. We even launched our own token, Nucoin, which already over 8 million of our customers are using actively. We\'re using it right now with an interesting application around loyalty for the platform.\nWhat do you think about the future of finance?\nI think the future of finance, especially retail finance, is being built today in emerging markets. It\'s more Brazil, India, China, than probably very developed economies. Some of the elements that you would see in the future are, first, completely interoperable digital payments that connect 100% of the population and allow 100% of the population to make real-time payments for free, 24/7. That\'s number one.\nNumber two, a very advanced open-finance infrastructure where consumers can connect all of their existing bank accounts into one app, allowing every bank to compete in every single product for the consumers’ business. It decreases the barriers to entry, it decreases a lot of the existing friction, it enables, effectively, the best product to win—the best credit card to win, the lowest-interest rate cost to win.\nThen I would alsoexpect AI to make a pretty significant dentin that future. If the smartphone was the way to get a banking branch in every single person\'s pocket, AI is going to be the way to get a personal banker in every single customer\'s pocket, and that means a real opportunity to democratize access to 100% of the population—not only access but advice. Today, you might have access, but a big percent of the population doesn\'t really understand very complex financial services products. They have a hard time understanding things like compound interest and they really need a lot of advice. The historical answer from institutions has been, “Well, they need financial education.” I think there is a very significant limit to financial education. I think what people really need is the right advice, the right banker next to them, helping them make the right decisions. And I think AI is going to enable that.\nFinally, I think crypto is going to be playing a role in a number of differen
**Last 60 Days of Bitcoin's Closing Prices:**
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Daily Context for Date: 2023-10-09
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**Bitcoin Market & On-Chain Metrics:**
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- Contextual Past News Article: FangXiaNuo / Getty Images The surging popularity of artificial intelligence (or large language models), notably ChatGPT, has been helping people be more efficient at work , among other functions. But what about investing? NewsBTC recently conducted an experiment, giving the AI tool $20,000 to invest in stocks and crypto. The results were surprising. I’m a Self-Made Millionaire: Here Are 5 Stocks I’m Never Selling Also: 3 Things You Must Do When Your Savings Reach $50,000 In the end, $1,946 profit was made after following ChatGPT’s advice for a month, with crypto investments making 130% more than stocks and Rivian and Solana having the highest return on investment (ROI). Crypto investments earned $1,359 and stocks returned $587, according to the experiment. NewsBTC said that after a little bit of training, ChatGPT suggested exactly how much of the budget to invest in each stock and coin. Jonathan Millet, business consultant at NewsBTC , said that while he was fully aware of Solana’s strong community backing and the widespread trust in its stability, he didn’t anticipate that its increased profits would be more than double the ROI of Bitcoin. In terms of stocks, he said it was interesting that Rivian saw the greatest ROI overall — despite ChatGPT recommending investing the least in this stock. What he was surprised most by, though, was a particular stock missing from ChatGPT’s investment suggestions: Meta, which recently released Twitter’s competitor, Threads. “It was released at the perfect time, after news that Twitter was limiting the number of Tweets its users could see. This isn’t one of the stocks ChatGPT suggested investing in, despite Threads’ rapid user growth and positive impact on Meta’s stock price. Had ChatGPT recommended investing $1,000 in Meta, this value would have risen to $1,100 by the study’s close — a greater ROI than Apple or Amazon,” Millet said. Another “hiccup” was one of the stocks ChatGPT suggested — Waymo. Waymo is not publicly traded, something some experts think proves ChatGPT is still in its infancy… and not entirely trustworthy when it comes to investing advice. Story continues “ChatGPT isn’t going to make you rich by picking stocks. ChatGPT might be useful for summarizing evergreen investing techniques or the different styles of investments,” said Todd Stearn, founder and CEO of The Money Manual . “Let’s use common sense. Do you really think a free tool, or even the $20 a month version, is going to do all the work for you to make you wealthy? ChatGPT is a tool. Get skilled using it. But it’s still up to you to make the right financial decisions.” Other stocks suggested by ChatGPT were rather expected: Apple, Amazon, Alphabet, Microsoft, Nvidia and Tesla. The worst-performing suggested stock was Pfizer, which fell upon news of a cancelled obesity and type 2 diabetes drug. As for cryptocurrency, NewsBTC said ChatGPT offered an initial list of coins, and when asked how much to invest in each it gave a general strategy for investing in cryptocurrency. According to ChatGPT, 40%-50% should be invested in Bitcoin and Ethereum combined, and 10%-20% invested in other prominent coins. In the end, NewsBTC decided to put 20% into Bitcoin, 20% into Ethereum and 10% for the remaining coins (including Ripple, Cardano and others). Bob Baxley, a core contributor to Maverick Protocol , said while it’s unsurprising that people are utilizing ChatGPT for designing and implementing investing and trading strategies for both equities and crypto, we’re still in the early stages. “So of course it will take time and development for these emerging technologies to reach a level in which implementing such strategies can be considered reliable and safe,” said Baxley. “But there are certainly signs that AI can be compatible with crypto, in particular, in a potentially large number of ways.” For instance, Baxley said, in the coming years we will see a number of crypto-specific platforms that increasingly utilize algorithms — and machine learning in general — for tailoring trading and investing strategies. While it will take time for these technologies to become sophisticated enough to accurately reflect the associated risk appetite for any given trader and investor, automating such strategies will likely make investing much more efficient — and easier — for people and organizations, he added. Grant Cardone Says Passive Income Is the Key To Building Wealth: Here’s His No. 1 Way To Get It Money Expert Jaspreet Singh: Get Rich Through These 3 Investments “Again, while the fusion of these technologies in the investing space offers a lot of great potential, people should be cautious,” Baxley said. Overall, NewsBTC concluded that, “Alongside providing often unreliable advice, a lack of real-time data visibility is one of the biggest flaws in relying on AI models like ChatGPT for investment guidance.” More From GOBankingRates The Average American Spends This Much on Rent -- See How You Stack Up The Financial Feng Shui Rule: 7 Chinese Secrets to Attract Wealth 3 Things You Must Do When Your Savings Reach $50,000 Experts Share the 5 Best Money Moves To Make Before Retiring This article originally appeared on GOBankingRates.com : ChatGPT Was Given $20K To Invest in Stocks and Crypto — Here’s How It Made $2,000 in a Month...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['• US stocks jumped on Monday and bond ETFs surged after a safety trade was sparked by Hamas attacking Israel.\n• Oil prices, energy stocks, and defense stocks surged in the aftermath of the Middle East conflict.\n• Comments from Federal Reserve members also signaled that further interest rate hikes may not be necessary.\nUS stocks jumped on Monday after a safety trade was sparked byHamas attacking Israel over the weekend.\nThe bond market was closed on Monday, but Treasury yields look set to decline on Tuesday based on the price action of bond ETFs and futures contracts tied to the Treasury note. Traders expect a 14-basis-point decline in the 10-year yield, according to futures data from the CME.\nRecent comments from Federal Reserve members also leaned dovish as they acknowledged the recent surge in long-term bond yields and suggested that further interest rate hikes may not be necessary.\nFed Vice Chair Philip Jefferson said in a speech to the National Association for Business Economics in Dallas on Monday that the Fed is "in a position to proceed carefully in assessing the extent of any additional policy firming that may be necessary."\n"I would want the public to know that we\'re going to be mindful, whatever is happening, and we will use data in real time to pick an appropriate response," Jefferson said.\nFed officials Mary Daly and Lorie Logan also recently acknowledged that the recent surge in yields could limit future rate hikes.\nHere\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Monday:\n• S&P 500:4,335.66, up 0.63%\n• Dow Jones Industrial Average:33,604.65, up 0.59% (197.07 points)\n• Nasdaq Composite:13,484.24, up 0.39%\nHere\'s what else is going on today:\n• Israel\'s currency weakened to a seven-year low against the dollaron Monday, and the Bank of Israel announced it would sell up to $30 billion in foreign reserves.\n• Here\'s what six Wall Street experts had to sayabout the breakout of war between Israel and Hamas and its potential impact markets going forward.\n• The\xa0ongoing Treasury rout\xa0ranks as the deepest bond bear market in the 247-year historyof the US, according to Bank of America.\n• Defense stocks surged on Monday, with the share price of Northrop Grumman jumping as much as 12%. Meanwhile, General Dynamic and Lockheed Martin stock jumped 9% and 8%.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 4.32% to $86.37 a barrel.Brent crude, the international benchmark, gained 4.20% to $88.13 a barrel.\n• Goldjumped 1.70% to $1,876.60 per ounce.\n• The bond market was closed on Monday. The 10-year Treasury yield closed at 4.80% on Friday and was indicated to decline 14 basis points based on futures contracts.\n• Bitcoinfell 1.00% to $27,653.\nRead the original article onBusiness Insider', 'Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020. Andrew Kelly/Reuters US stocks jumped on Monday and bond ETFs surged after a safety trade was sparked by Hamas attacking Israel. Oil prices, energy stocks, and defense stocks surged in the aftermath of the Middle East conflict. Comments from Federal Reserve members also signaled that further interest rate hikes may not be necessary. US stocks jumped on Monday after a safety trade was sparked by Hamas attacking Israel over the weekend. The bond market was closed on Monday, but Treasury yields look set to decline on Tuesday based on the price action of bond ETFs and futures contracts tied to the Treasury note. Traders expect a 14-basis-point decline in the 10-year yield, according to futures data from the CME. Recent comments from Federal Reserve members also leaned dovish as they acknowledged the recent surge in long-term bond yields and suggested that further interest rate hikes may not be necessary. Fed Vice Chair Philip Jefferson said in a speech to the National Association for Business Economics in Dallas on Monday that the Fed is "in a position to proceed carefully in assessing the extent of any additional policy firming that may be necessary." "I would want the public to know that we\'re going to be mindful, whatever is happening, and we will use data in real time to pick an appropriate response," Jefferson said. Fed officials Mary Daly and Lorie Logan also recently acknowledged that the recent surge in yields could limit future rate hikes. Here\'s where US indexes stood shortly at the 4:00 p.m. closing bell on Monday: S&P 500 : 4,335.66, up 0.63% Dow Jones Industrial Average : 33,604.65, up 0.59% (197.07 points) Nasdaq Composite : 13,484.24, up 0.39% Here\'s what else is going on today: Israel\'s currency weakened to a seven-year low against the dollar on Monday, and the Bank of Israel announced it would sell up to $30 billion in foreign reserves. Here\'s what six Wall Street experts had to say about the breakout of war between Israel and Hamas and its potential impact markets going forward. The\xa0ongoing Treasury rout\xa0ranks as the deepest bond bear market in the 247-year history of the US, according to Bank of America. Defense stocks surged on Monday , with the share price of Northrop Grumman jumping as much as 12%. Meanwhile, General Dynamic and Lockheed Martin stock jumped 9% and 8%. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 4.32% to $86.37 a barrel. Brent crude , the international benchmark, gained 4.20% to $88.13 a barrel. Gold jumped 1.70% to $1,876.60 per ounce. The bond market was closed on Monday. The 10-year Treasury yield closed at 4.80% on Friday and was indicated to decline 14 basis points based on futures contracts. Bitcoin fell 1.00% to $27,653. Read the original article on Business Insider', 'This news release constitutes a "designated news release" for the purposes of the Company\'s amended and restated prospectus supplement dated August 17, 2023, to its short form base shelf prospectus dated May 1, 2023. Vancouver, British Columbia--(Newsfile Corp. - October 10, 2023) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE") is pleased to provide an update on its HPC and AI infrastructure projects. Figure 1 To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5335/183425_27d3e08384371927_001full.jpg The Company is converting its 38,000 Nvidia data center GPU cards ("GPUs"), previously used to mine Ethereum and other cryptocurrencies, into an on-demand GPU cloud service. HIVE President and CEO Aydin Kilic stated, "We\'re on track to have 3,200 GPUs, mostly powerful Nvidia A40s, up and running in the AI/HPC space by the end of October." Mr. Kilic continued, "GPU cloud is far more complex than mining Bitcoin with ASICs. It took us a few months to get the right hardware architecture in placeand we\'ve had a breakthrough in the last week. Our GPU server utilization rate has gone from 40-50% during our test phase to over 80% last week as our commercialization ramps up, allowing those GPUs to almost double their daily cash flow per server. The team has done an amazing job, and we\'re rapidly learning and advancing this business. We\'re quite bullish on the GPU cloud market, which we see as one of those rare opportunities which only come along every few decades. The demand is growing quickly." HIVE\'s HPC and AI business is currently generating 15x more revenue than Bitcoin on a per-megawatt basis, and demand for GPU compute is growing rapidly. HIVE Executive Chairman Frank Holmes stated, "A recent report by Goldman Sachs suggests huge demand, as shown in the chart below. Fortune Business Insights has predicted that the GPU as a service market in North America will grow at a compounded annual growth rate of 34% until 2030. This is a blue-sky opportunity, thanks to remarkable demand from AI projects. For example, we think large language models, the tech behind ChatGPT, is just getting started. We think there\'s a use for them in almost every company, and these things require a lot of GPU power to build and run." Story continues Figure 2 To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5335/183425_27d3e08384371927_002full.jpg HIVE leadership believes that GPU cloud will be an excellent complement to the Company\'s Bitcoin mining business. Revenue from our GPU infrastructure is growing quickly and should offer a stable source of cash flow to the business once it reaches scale. The Company is initially targeting two of the largest markets in the world, North America (via Canada) and Europe (via Sweden). Mr. Holmes said, "Our foundation in HPC and AI infrastructure is now secured in both North America and the Europe. Our GPUs are installed in powerful new SuperMicro servers in Tier 3 data centers. We realized a successful beta-test earlier this year with 400 GPUs, and our goal for the end of the year is 4,800 GPUs active by December 31." Mr. Holmes continued, "When we made the $66 million GPU purchase from Nvidia in 2021, we were planning beyond the Ethereum Merge. We strategically bought multi-use Nvidia cards instead of Ethereum-specific ones which are slightly more efficient. Why? Because these GPUs are hundreds, even thousands of times faster and more efficient than CPUs for certain workloads, including these new AI technologies. We\'re excited to build this business." One of HIVE\'s new Supermicro servers with 10x Nvidia A40 48 GB VRAM GPU To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5335/183425_27d3e08384371927_003full.jpg For more information and to register to HIVE\'s mailing list, please visit www.HIVEdigitaltechnologies.com . Follow @HIVEDigitalTech on Twitter and subscribe to HIVE\'s YouTube channel . On Behalf of HIVE Digital Technologies Ltd. "Frank Holmes" Executive Chairman For further information please contact: Frank Holmes [email protected] Forward-Looking Information Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, the volatility of the digital currency market; the Company\'s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company\'s operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company\'s ability to utilize the Company\'s at-the-market equity offering program (the "ATM Program") and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company\'s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company\'s profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company\'s disclosure documents under the Company\'s filings at www.sec.gov/EDGAR and www.sedarplus.com . The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company\'s objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company\'s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183425', 'This news release constitutes a "designated news release" for the purposes of the Company\'s amended and restated prospectus supplement dated August 17, 2023, to its short form base shelf prospectus dated May 1, 2023.\nVancouver, British Columbia--(Newsfile Corp. - October 10, 2023) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE") is pleased to provide an update on its HPC and AI infrastructure projects.\nFigure 1\nTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/183425_27d3e08384371927_001full.jpg\nThe Company is converting its 38,000 Nvidia data center GPU cards ("GPUs"), previously used to mine Ethereum and other cryptocurrencies, into an on-demand GPU cloud service. HIVE President and CEO Aydin Kilic stated, "We\'re on track to have 3,200 GPUs, mostly powerful Nvidia A40s, up and running in the AI/HPC space by the end of October."\nMr. Kilic continued, "GPU cloud is far more complex than mining Bitcoin with ASICs. It took us a few months to get the right hardware architecture in placeand we\'ve had a breakthrough in the last week. Our GPU server utilization rate has gone from 40-50% during our test phase to over 80% last week as our commercialization ramps up, allowing those GPUs to almost double their daily cash flow per server. The team has done an amazing job, and we\'re rapidly learning and advancing this business. We\'re quite bullish on the GPU cloud market, which we see as one of those rare opportunities which only come along every few decades. The demand is growing quickly."\nHIVE\'s HPC and AI business is currently generating 15x more revenue than Bitcoin on a per-megawatt basis, and demand for GPU compute is growing rapidly.\nHIVE Executive Chairman Frank Holmes stated, "A recent report by Goldman Sachs suggests huge demand, as shown in the chart below. Fortune Business Insights has predicted that the GPU as a service market in North America will grow at a compounded annual growth rate of 34% until 2030. This is a blue-sky opportunity, thanks to remarkable demand from AI projects. For example, we think large language models, the tech behind ChatGPT, is just getting started. We think there\'s a use for them in almost every company, and these things require a lot of GPU power to build and run."\nFigure 2\nTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/183425_27d3e08384371927_002full.jpg\nHIVE leadership believes that GPU cloud will be an excellent complement to the Company\'s Bitcoin mining business. Revenue from our GPU infrastructure is growing quickly and should offer a stable source of cash flow to the business once it reaches scale. The Company is initially targeting two of the largest markets in the world, North America (via Canada) and Europe (via Sweden).\nMr. Holmes said, "Our foundation in HPC and AI infrastructure is now secured in both North America and the Europe. Our GPUs are installed in powerful new SuperMicro servers in Tier 3 data centers. We realized a successful beta-test earlier this year with 400 GPUs, and our goal for the end of the year is 4,800 GPUs active by December 31."\nMr. Holmes continued, "When we made the $66 million GPU purchase from Nvidia in 2021, we were planning beyond the Ethereum Merge. We strategically bought multi-use Nvidia cards instead of Ethereum-specific ones which are slightly more efficient. Why? Because these GPUs are hundreds, even thousands of times faster and more efficient than CPUs for certain workloads, including these new AI technologies. We\'re excited to build this business."\nOne of HIVE\'s new Supermicro servers with 10x Nvidia A40 48 GB VRAM GPU\nTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/183425_27d3e08384371927_003full.jpg\nFor more information and to register to HIVE\'s mailing list, please visitwww.HIVEdigitaltechnologies.com. Follow@HIVEDigitalTechon Twitter and subscribe toHIVE\'s YouTube channel.\nOn Behalf of HIVE Digital Technologies Ltd.\n"Frank Holmes"Executive Chairman\nFor further information please contact:\nFrank [email protected]\nForward-Looking Information\nExcept for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.\nFactors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, the volatility of the digital currency market; the Company\'s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company\'s operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company\'s ability to utilize the Company\'s at-the-market equity offering program (the "ATM Program") and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company\'s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company\'s profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company\'s disclosure documents under the Company\'s filings atwww.sec.gov/EDGARandwww.sedarplus.com.\nThe forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company\'s objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company\'s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.\nTo view the source version of this press release, please visithttps://www.newsfilecorp.com/release/183425', 'Theongoing Hamas-Israel conflictand a significant ether (ETH) sale by the Ethereum Foundation weighed in on broader crypto markets as bulls saw over $100 million in futures positions evaporated and the market slid 2% on average.\nBitcoin (BTC) showed signs of stability relative to other tokens, losing 1% in the past 24 hours and hovering above a key support level of $27,500 in Asian morning hours Tuesday. Among traders, riskier assets such as technology stocks and bitcoin are in focus amid surging oil prices.\nAnalysts at trading firm FxPro told CoinDesk in a note that they were watching for a break of the $28,000 level for bitcoin before turning bullish.\n“Technically, bitcoin remains in an uptrend but ran into resistance at its 200-day moving average over the weekend,” the analysts said. “All eyes will be on BTCUSD to see if it can successfully consolidate above $28,000, the 200-day moving average. If it does, we can expect a quick rise to as much as $29,500.”\nElsewhere, ether slumped 3% as theEthereum Foundation sold $2.7 millionworth of the tokens on Monday, sparking concerns among traders. This weighed in on ETH futures markets – with ether bulls losing over $30 million, the highest among all crypto traders, on Monday.\nElsewhere, Solana’s SOL tokens slid nearly 5%, XRP dropped 3.7% and Cardano’s ADA fell 3.4%. The CoinDesk Market Index (CMI), a broad-based indication of crypto markets that tracks hundreds of tokens, fell 1.9% – pointing to overall losses for traders.', 'Theongoing Hamas-Israel conflictand a significant ether (ETH) sale by the Ethereum Foundation weighed in on broader crypto markets as bulls saw over $100 million in futures positions evaporated and the market slid 2% on average.\nBitcoin (BTC) showed signs of stability relative to other tokens, losing 1% in the past 24 hours and hovering above a key support level of $27,500 in Asian morning hours Tuesday. Among traders, riskier assets such as technology stocks and bitcoin are in focus amid surging oil prices.\nAnalysts at trading firm FxPro told CoinDesk in a note that they were watching for a break of the $28,000 level for bitcoin before turning bullish.\n“Technically, bitcoin remains in an uptrend but ran into resistance at its 200-day moving average over the weekend,” the analysts said. “All eyes will be on BTCUSD to see if it can successfully consolidate above $28,000, the 200-day moving average. If it does, we can expect a quick rise to as much as $29,500.”\nElsewhere, ether slumped 3% as theEthereum Foundation sold $2.7 millionworth of the tokens on Monday, sparking concerns among traders. This weighed in on ETH futures markets – with ether bulls losing over $30 million, the highest among all crypto traders, on Monday.\nElsewhere, Solana’s SOL tokens slid nearly 5%, XRP dropped 3.7% and Cardano’s ADA fell 3.4%. The CoinDesk Market Index (CMI), a broad-based indication of crypto markets that tracks hundreds of tokens, fell 1.9% – pointing to overall losses for traders.', 'The ongoing Hamas-Israel conflict and a significant ether (ETH) sale by the Ethereum Foundation weighed in on broader crypto markets as bulls saw over $100 million in futures positions evaporated and the market slid 2% on average. Bitcoin (BTC) showed signs of stability relative to other tokens, losing 1% in the past 24 hours and hovering above a key support level of $27,500 in Asian morning hours Tuesday. Among traders, riskier assets such as technology stocks and bitcoin are in focus amid surging oil prices. Analysts at trading firm FxPro told CoinDesk in a note that they were watching for a break of the $28,000 level for bitcoin before turning bullish. “Technically, bitcoin remains in an uptrend but ran into resistance at its 200-day moving average over the weekend,” the analysts said. “All eyes will be on BTCUSD to see if it can successfully consolidate above $28,000, the 200-day moving average. If it does, we can expect a quick rise to as much as $29,500.” Elsewhere, ether slumped 3% as the Ethereum Foundation sold $2.7 million worth of the tokens on Monday, sparking concerns among traders. This weighed in on ETH futures markets – with ether bulls losing over $30 million, the highest among all crypto traders, on Monday. Elsewhere, Solana’s SOL tokens slid nearly 5%, XRP dropped 3.7% and Cardano’s ADA fell 3.4%. The CoinDesk Market Index (CMI), a broad-based indication of crypto markets that tracks hundreds of tokens, fell 1.9% – pointing to overall losses for traders.', 'Raj Chowdhury, the CEO of HashCash, believes that cryptocurrency can pave the way for a world without limitations. He maintains a positive outlook on the capabilities of cryptocurrencies to surpass conventional boundaries and enable individuals worldwide. PALO ALTO, Calif. , Oct. 10, 2023 /PRNewswire-PRWeb/ -- The recent years have seen a remarkable growth of cryptocurrencies . A growing number of people now acknowledge its potential as a global currency. As we progress towards a more digital world, the concept of having a universal currency is gaining more traction. Despite the regulatory challenges and the market\'s volatility, cryptos have the potential to become the sole currency worldwide. With further advancements and widespread adoption, we can envision a future where transactions are borderless. Among many, HashCash Consultants CEO Raj Chowdhury believes that crypto has the potential to create a borderless world. New digital forms of currency hold the potential to transform the financial sector. They offer rapid and cost-effective payment options, enhance financial inclusion, and simplify cross-border transfers. Nonetheless, adopting these currencies involves intricate policy decisions and substantial investment. While some countries may contemplate introducing cryptoassets as their national currencies, the drawbacks and expenses usually surpass the advantages. Unlike central bank-issued digital currencies and stablecoins, cryptoassets are volatile and privately issued tokens. In addition to cryptoassets, private businesses are delving into novel avenues of digital money like mobile-based money transfers. CEO of HashCash Consultants and Bitcoin Maximalist, Raj Chowdhury asserts, "In the ongoing battle between humanity and technology, it is often the latter that emerges victorious. A perfect example is the advent of cryptocurrency , which has the capacity to usher in a world free of geographic and financial limitations." Story continues The adoption of cryptocurrencies as legal tender worldwide could streamline cross-border transactions, travel, and shopping. Nevertheless, it may make a significant percentage of financial service providers redundant. Conversely, fiat currencies give countries the ability to manage their economy by adjusting interest rates according to their needs. A universal cryptocurrency , however, would eliminate this leverage, leaving countries with minimal scope to enhance their economy or increase the value of their fiat currencies. Nonetheless, it could also potentially bring an end to ongoing conflicts between nations and promote global equality. "As we progress towards a more digitally-driven future, the concept of a global currency becomes increasingly viable, and I firmly assert that cryptocurrencies will serve as a crucial tool in realizing this objective," concluded Chowdhury. The US-based blockchain development company HashCash Consultants has developed several products and offered services to over 26 countries. Products such as crypto payment processors , and white-label crypto exchange platforms are trending among retailers in the US and other countries. HashCash was recently listed as the top blockchain development company by a global research firm. In summary, although the extensive use of digital currencies could pose some advantages and drawbacks, it has the extraordinary capacity to establish a world free of limits. This world would eradicate the obstacles of financial transactions and encourage equality worldwide. About Raj Chowdhury: Raj Chowdhury is the Managing Director of HashCash Consultants and Paybito . Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to the Economic Times, Business World, and CNNMoney and advises industry leaders in the adoption of Blockchain. He is a member of Asha Silicon Valley, a nonprofit committed to education for children in emerging countries. Author of the book \'The Dark Secret of the Silicon Valley\', Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community. Media Contact Coleen Facete, Hashcash Digest, +14159662907, [email protected] Cision View original content to download multimedia: https://www.prweb.com/releases/hashcash-ceo-raj-chowdhury-is-optimistic-about-the-potential-of-cryptocurrency-to-create-a-world-without-boundaries-301951074.html SOURCE Hashcash Digest', 'Raj Chowdhury, the CEO of HashCash, believes that cryptocurrency can pave the way for a world without limitations. He maintains a positive outlook on the capabilities of cryptocurrencies to surpass conventional boundaries and enable individuals worldwide. PALO ALTO, Calif. , Oct. 10, 2023 /PRNewswire-PRWeb/ -- The recent years have seen a remarkable growth of cryptocurrencies . A growing number of people now acknowledge its potential as a global currency. As we progress towards a more digital world, the concept of having a universal currency is gaining more traction. Despite the regulatory challenges and the market\'s volatility, cryptos have the potential to become the sole currency worldwide. With further advancements and widespread adoption, we can envision a future where transactions are borderless. Among many, HashCash Consultants CEO Raj Chowdhury believes that crypto has the potential to create a borderless world. New digital forms of currency hold the potential to transform the financial sector. They offer rapid and cost-effective payment options, enhance financial inclusion, and simplify cross-border transfers. Nonetheless, adopting these currencies involves intricate policy decisions and substantial investment. While some countries may contemplate introducing cryptoassets as their national currencies, the drawbacks and expenses usually surpass the advantages. Unlike central bank-issued digital currencies and stablecoins, cryptoassets are volatile and privately issued tokens. In addition to cryptoassets, private businesses are delving into novel avenues of digital money like mobile-based money transfers. CEO of HashCash Consultants and Bitcoin Maximalist, Raj Chowdhury asserts, "In the ongoing battle between humanity and technology, it is often the latter that emerges victorious. A perfect example is the advent of cryptocurrency , which has the capacity to usher in a world free of geographic and financial limitations." Story continues The adoption of cryptocurrencies as legal tender worldwide could streamline cross-border transactions, travel, and shopping. Nevertheless, it may make a significant percentage of financial service providers redundant. Conversely, fiat currencies give countries the ability to manage their economy by adjusting interest rates according to their needs. A universal cryptocurrency , however, would eliminate this leverage, leaving countries with minimal scope to enhance their economy or increase the value of their fiat currencies. Nonetheless, it could also potentially bring an end to ongoing conflicts between nations and promote global equality. "As we progress towards a more digitally-driven future, the concept of a global currency becomes increasingly viable, and I firmly assert that cryptocurrencies will serve as a crucial tool in realizing this objective," concluded Chowdhury. The US-based blockchain development company HashCash Consultants has developed several products and offered services to over 26 countries. Products such as crypto payment processors , and white-label crypto exchange platforms are trending among retailers in the US and other countries. HashCash was recently listed as the top blockchain development company by a global research firm. In summary, although the extensive use of digital currencies could pose some advantages and drawbacks, it has the extraordinary capacity to establish a world free of limits. This world would eradicate the obstacles of financial transactions and encourage equality worldwide. About Raj Chowdhury: Raj Chowdhury is the Managing Director of HashCash Consultants and Paybito . Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to the Economic Times, Business World, and CNNMoney and advises industry leaders in the adoption of Blockchain. He is a member of Asha Silicon Valley, a nonprofit committed to education for children in emerging countries. Author of the book \'The Dark Secret of the Silicon Valley\', Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community. Media Contact Coleen Facete, Hashcash Digest, +14159662907, [email protected] Cision View original content to download multimedia: https://www.prweb.com/releases/hashcash-ceo-raj-chowdhury-is-optimistic-about-the-potential-of-cryptocurrency-to-create-a-world-without-boundaries-301951074.html SOURCE Hashcash Digest', 'Bitcoin and ether options order books lean toward asks, a sign of bias for selling. A bias for selling options indicates expectations for continued volatility lull. Crypto traders seem unperturbed by the escalating tensions in the Middle East, which threaten to add risks to the already murky global economic outlook. That\'s the message from the order flow in the bitcoin (BTC) and ether (ETH) options market, which shows a bias for selling options, a strategy aimed at profiting from low volatility or price turbulence. "On an aggregate basis, it becomes evident that Deribit option order books exhibit a bias towards selling volatility. This is indicated by the bid/ask ratio consistently leaning below one, where a ratio less than one suggests a preference for selling. In contrast, a ratio greater than one indicates a preference for buying," crypto quant researcher Samneet Chepal told CoinDesk. Options are derivative contracts that offer the purchaser the right to buy or sell the underlying asset at a preset price at a later date. A call provides the right to buy and a put offers the right to sell. Ask price is the price at which the seller is ready to sell and bid is the value at which the buyer is ready to purchase. Deribit is the world\'s largest crypto options exchange by open interest and trading volumes, controlling over 85% of the global activity in bitcoin and ether options. Geopolitical events like the latest Israel-Palestine conflict, central bank actions and economic data announcements typically have traders buying options. The strategy is preferred on the premise that these events could trigger substantial market fluctuations. The tensions in the Middle East couldn\'t have come at a worse time. Several nations are already staring at stagflation , the worst possible outcome for risk assets, including cryptocurrencies. Still, bitcoin and ether continue to trade largely steady. Bitcoin, the leading cryptocurrency by market value, has been locked in a narrow range of $27,000- $28,500 this month. Ether, meanwhile, remains stuck in the two-month range of $1,550- $1,750. Story continues Ratios lean below 1, signaling a bias for volatility selling. (Samneet Chepal) The chart shows the bid-ask order book depth ratio in bitcoin and ether options traded on Deribit as of early Asian hours. The below-1 ratio shows the order book quotes leaned more toward the asks, a bias for sell trades. The data is consistent with the implied volatility (IV) meltdown in bitcoin and ether since the beginning of the year. The IV, which refers to investors\' expectations for price turbulence, is influenced by demand for options.', '• Bitcoin and ether options order books lean toward asks, a sign of bias for selling.\n• A bias for selling options indicates expectations for continued volatility lull.\nCrypto traders seem unperturbed by the escalating tensions in the Middle East, which threaten toadd risksto the already murky global economic outlook.\nThat\'s the message from the order flow in the bitcoin (BTC) and ether (ETH) options market, which shows a bias for selling options, a strategy aimed at profiting from low volatility or price turbulence.\n"On an aggregate basis, it becomes evident that Deribit option order books exhibit a bias towards selling volatility. This is indicated by the bid/ask ratio consistently leaning below one, where a ratio less than one suggests a preference for selling. In contrast, a ratio greater than one indicates a preference for buying," crypto quant researcher Samneet Chepal told CoinDesk.\nOptions are derivative contracts that offer the purchaser the right to buy or sell the underlying asset at a preset price at a later date. A call provides the right to buy and a put offers the right to sell. Ask price is the price at which the seller is ready to sell and bid is the value at which the buyer is ready to purchase.\nDeribit is the world\'s largest crypto options exchange by open interest and trading volumes, controlling over 85% of the global activity in bitcoin and ether options.\nGeopolitical events like the latest Israel-Palestine conflict, central bank actions and economic data announcements typically have traders buying options. The strategy is preferred on the premise that these events could trigger substantial market fluctuations.\nThe tensions in the Middle East couldn\'t have come at a worse time. Several nations are already staring atstagflation, the worst possible outcome for risk assets, including cryptocurrencies.\nStill, bitcoin and ether continue to trade largely steady. Bitcoin, the leading cryptocurrency by market value, has been locked in a narrow range of $27,000- $28,500 this month. Ether, meanwhile, remains stuck in the two-month range of $1,550- $1,750.\nThe chart shows the bid-ask order book depth ratio in bitcoin and ether options traded on Deribit as of early Asian hours. The below-1 ratio shows the order book quotes leaned more toward the asks, a bias for sell trades.\nThe data is consistent with the implied volatility (IV)meltdownin bitcoin and ether since the beginning of the year. The IV, which refers to investors\' expectations for price turbulence, is influenced by demand for options.', '• Bitcoin and ether options order books lean toward asks, a sign of bias for selling.\n• A bias for selling options indicates expectations for continued volatility lull.\nCrypto traders seem unperturbed by the escalating tensions in the Middle East, which threaten toadd risksto the already murky global economic outlook.\nThat\'s the message from the order flow in the bitcoin (BTC) and ether (ETH) options market, which shows a bias for selling options, a strategy aimed at profiting from low volatility or price turbulence.\n"On an aggregate basis, it becomes evident that Deribit option order books exhibit a bias towards selling volatility. This is indicated by the bid/ask ratio consistently leaning below one, where a ratio less than one suggests a preference for selling. In contrast, a ratio greater than one indicates a preference for buying," crypto quant researcher Samneet Chepal told CoinDesk.\nOptions are derivative contracts that offer the purchaser the right to buy or sell the underlying asset at a preset price at a later date. A call provides the right to buy and a put offers the right to sell. Ask price is the price at which the seller is ready to sell and bid is the value at which the buyer is ready to purchase.\nDeribit is the world\'s largest crypto options exchange by open interest and trading volumes, controlling over 85% of the global activity in bitcoin and ether options.\nGeopolitical events like the latest Israel-Palestine conflict, central bank actions and economic data announcements typically have traders buying options. The strategy is preferred on the premise that these events could trigger substantial market fluctuations.\nThe tensions in the Middle East couldn\'t have come at a worse time. Several nations are already staring atstagflation, the worst possible outcome for risk assets, including cryptocurrencies.\nStill, bitcoin and ether continue to trade largely steady. Bitcoin, the leading cryptocurrency by market value, has been locked in a narrow range of $27,000- $28,500 this month. Ether, meanwhile, remains stuck in the two-month range of $1,550- $1,750.\nThe chart shows the bid-ask order book depth ratio in bitcoin and ether options traded on Deribit as of early Asian hours. The below-1 ratio shows the order book quotes leaned more toward the asks, a bias for sell trades.\nThe data is consistent with the implied volatility (IV)meltdownin bitcoin and ether since the beginning of the year. The IV, which refers to investors\' expectations for price turbulence, is influenced by demand for options.', 'Israeli crypto firms launched Crypto Aid Israel on Monday, a humanitarian fund for Israeli citizens in need of aid due to the war with the Palestinian military group Hamas.\nSee related article:‘There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia\n• Crypto Aid Israel was launched as an emergency initiative by Fireblocks, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, BlockchainB7, Efficient Frontier, Ironblocks Israel Blockchain Association, and Bits Of Gold.\n• The fund will operate through a multi-signature wallet jointly controlled by multiple parties to collect donations in Bitcoin, Ether, and dollar-backed stablecoins USDT and USDC.\n• Fireblocks, a New York-based digital assets custody, will manage the cryptocurrency donations, with the multi-signature wallet requiring at least four out of seven signatories to approve transactions, according to a press release from Crypto Aid Israel.\n• “We hope to raise the necessary funds to provide food and shelter for families who lost their homes. We are also hoping to provide hygiene and medical products for the bombarded Israeli civilian populace and to raise awareness for the horrors the Israeli people are facing right now,” said Ben Samocha, the chief executive officer of CryptoJungle, an Israel-based crypto news platform.\n• Israel declared war on Hamas on Saturday, after the militant group carried out anattackcausing at least 900 deaths in Israel, prompting a retaliation airstrike that killed at least 687 people in Gaza.\n• Crypto fundraising for war victims gained strong interest after Russia invaded Ukraine in 2022. Six months into the war, theUkrainian government spent US$54 millionraised through crypto donations to supply defenders with military equipment, clothing, medicine and vehicles.\nSee related article:From crisis currency to consumer adoption:
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-10
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $534,563,040,000
- Hash Rate: 461613756.0038587
- Transaction Count: 285060.0
- Unique Addresses: 629505.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin ( BTC ) pulled back from yesterday’s high above $28,000 on Wednesday as investors mulled the implications of Grayscale’s court victory over the U.S. Securities and Exchange Commission (SEC). The largest cryptocurrency by market cap was down 2% over the past 24 hours to $27,240. Ether ( ETH ) slightly outperformed, sinking 1.7% in the past 24 hours and hovering just above $1,700.. The broader crypto market mirrored the two leading assets’ move, with the CoinDesk Market Index dipping 2.4%. Cardano’s ADA , Solana’s SOL and Polygon’s MATIC led the decline among major altcoins, falling near 4% during the day and erasing most of their Tuesday advance. A federal appeals court yesterday ordered the SEC to review its rejection of investment manager Grayscale’s bid to convert its $14 billion Grayscale Bitcoin Trust (GBTC) into a spot bitcoin exchange-traded fund (ETF), spurring an immediate rally in digital asset prices and crypto-related stocks. Market observers hailed the decision as a landmark win that could potentially pave the way for a spot BTC ETF in the future. During the summer, a flurry of investment firms applied or renewed their bid to list such a product, including traditional finance giant BlackRock. Still, yesterday’s ruling does not automatically guarantee an approval of Grayscale’s or any other firm’s application. How sustainable is the BTC rally? While it’s too early to tell how sustainable Tuesday’s price jump was, “there are some small signs that we could see a slight reversal,” Clara Medalie, director of research at Kaiko, said in an interview with CoinDeskTV. Notably, the rally was accompanied by modest trading volumes on exchanges relative to other “mini bull markets,” spiking only to a two-week high, Medalie said. Trading volume represents market participants’ engagement in the market, she explained, thus the lackluster volume figure could signal some weakness behind the move. However, average BTC buy orders jumped to the highest since June, suggesting activity from large investors, which Medalie evaluated as “good news.” “A wave of ETF approvals could definitely be the bullish catalyst the crypto market needs right now,” she said, adding that “we are still in the middle of a tumultuous period for the industry with quite a few bankruptcies and lawsuits ongoing.” Market analyst Garreth Soloway forecasted further downside for bitcoin’s price in case it fails to break decisively above the $28,000 level where it traded before mid-August sell-off. “$28,000 is the price level at which the BTC price broke down. It is not uncommon for price to retrace to that level after a correction,” he explained in an emailed note. “BTC is still most likely to break down from the current levels, and the longer BTC trades sideways, the further the probable price decline.” The support level to watch is around $25,000, the price at which bitcoin sat in mid-June when Blackrock filed for a spot BTC ETF, Soloway added. View comments...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Non-fungible tokens (NFTs) took the world by storm in 2021 withbuyers spending millions of dollars on digital collectiblesin the art, entertainment, music and sports industries. As NFTs grew in popularity, the space gained the attention of celebrities like Logan Paul, Justin Bieber and Serena Williams, catapulting digital collectibles into the mainstream. We saw a new generation of collectors, investors, and fans move away from collecting physical items like baseball cards or Beanie Babies to spending more than a million dollars on a single Bored Ape.\nIn January 2022, NFTs were experiencing an all-time high trading volume ofUS$5.8 billion. But, in just a few short months, the market would come to a screeching halt. After the collapse of Terra USD and Luna, Bitcoin’s price nose dive, and the industry-shaking meltdown of FTX, the NFT market became one of the many victims of the “Crypto Winter,” with the trading volume plummeting toUS$395 million in August, a 30-month low, and traders are bracing for a furtherdip this month. This drastic decline is having artists, collectors and traders wondering if the industry is dying for good.\nWhile it’s true that picture-for-profile (PFP) NFTs are not booming, the value of NFTs has evolved to transcend price, and their uses are expanding far beyond a static image in someone’s wallet.\nNFTs have the ability totokenize real-world assetsand can offer exclusive physical and digital experiences for holders. We’re already seeing this concept of tokenization play out at scale.\nEarlier this year, the European Commission released itsStrategy for Sustainable and Circular Textiles, a new and innovative solution “to frame the future of Europe’s textiles and fashion industry with Digital Product Passports.” Digital product passports will be utilized as a tool to share details regarding the product’s environmental sustainability, including data on the product’s composition and environmental impact. By putting this measure in place, the industry will be able to better understand global sustainability goals and bolster clarity for consumers while advocating for environmentally conscious choices. This form of digital assets — while it’s not a traditional NFT — is where the future is headed.\nAs the business landscape of digital assets continues to expand from traditional use cases for NFTs to the tokenization of real-world assets, mainstream and luxury brands are also taking advantage of this technology. NFTs offer brands a new way to engage with consumers and provide additional real-world benefits, rewards, and experiences. ASICS, a renowned athletic shoe brand, launched a large-scale brandloyalty programon the Solana blockchain, leveraging NFT technology to excite and energize the company’s core audience.Nike,Doritosand hundreds of other brands are finding ways to leverage Web3 and NFT technology to appeal to a new generation of consumers driven not by speculation but utility.\nIn a rapidly evolving digital landscape, picture-for-profile NFTs still have a place, but they are not going to be the product driving mainstream adoption of Web3. Public financial interest in NFTs as we used to know them has slowed down, but the desire and creativity from brands to leverage digital assets is increasing. Loyalty programs, exclusive experience, digital content and rewards, our own digital identity and data ownership will define the next generation of NFTs and might actually be the killer use case that onboards the next billion people to Web3.', 'Non-fungible tokens ( NFTs ) took the world by storm in 2021 with buyers spending millions of dollars on digital collectibles in the art, entertainment, music and sports industries. As NFTs grew in popularity, the space gained the attention of celebrities like Logan Paul, Justin Bieber and Serena Williams, catapulting digital collectibles into the mainstream. We saw a new generation of collectors, investors, and fans move away from collecting physical items like baseball cards or Beanie Babies to spending more than a million dollars on a single Bored Ape. In January 2022, NFTs were experiencing an all-time high trading volume of US$5.8 billion . But, in just a few short months, the market would come to a screeching halt. After the collapse of Terra USD and Luna, Bitcoin’s price nose dive, and the industry-shaking meltdown of FTX, the NFT market became one of the many victims of the “Crypto Winter,” with the trading volume plummeting to US$395 million in August, a 30-month low , and traders are bracing for a further dip this month . This drastic decline is having artists, collectors and traders wondering if the industry is dying for good. While it’s true that picture-for-profile (PFP) NFTs are not booming, the value of NFTs has evolved to transcend price, and their uses are expanding far beyond a static image in someone’s wallet. NFTs have the ability to tokenize real-world assets and can offer exclusive physical and digital experiences for holders. We’re already seeing this concept of tokenization play out at scale. Earlier this year, the European Commission released its Strategy for Sustainable and Circular Textiles , a new and innovative solution “to frame the future of Europe’s textiles and fashion industry with Digital Product Passports.” Digital product passports will be utilized as a tool to share details regarding the product’s environmental sustainability, including data on the product’s composition and environmental impact. By putting this measure in place, the industry will be able to better understand global sustainability goals and bolster clarity for consumers while advocating for environmentally conscious choices. This form of digital assets — while it’s not a traditional NFT — is where the future is headed. As the business landscape of digital assets continues to expand from traditional use cases for NFTs to the tokenization of real-world assets, mainstream and luxury brands are also taking advantage of this technology. NFTs offer brands a new way to engage with consumers and provide additional real-world benefits, rewards, and experiences. ASICS, a renowned athletic shoe brand, launched a large-scale brand loyalty program on the Solana blockchain, leveraging NFT technology to excite and energize the company’s core audience. Nike , Doritos and hundreds of other brands are finding ways to leverage Web3 and NFT technology to appeal to a new generation of consumers driven not by speculation but utility. In a rapidly evolving digital landscape, picture-for-profile NFTs still have a place, but they are not going to be the product driving mainstream adoption of Web3. Public financial interest in NFTs as we used to know them has slowed down, but the desire and creativity from brands to leverage digital assets is increasing. Loyalty programs, exclusive experience, digital content and rewards, our own digital identity and data ownership will define the next generation of NFTs and might actually be the killer use case that onboards the next billion people to Web3.', 'REUTERS/Brendan McDermid US stocks climbed on Tuesday, with the Dow jumping more than 130 points. Bond yields tumbled after Fed officials hinted that the end of rate hikes may be near. The US 10-year Treasury dropped 13 basis points to hover at 4.651%. US stocks climbed Tuesday, while bond yields dropped following comments from key Fed officials that hinted at the end of rate hikes . Investors also continue to monitor developments in the Israel-Hamas conflict. Turmoil in the bond market, which is coming off one of its worst sell-offs in history, showed signs of easing on Tuesday, with both Atlanta Fed President Raphael Bostic and Dallas Fed President Lorie Logan pointing to a potential pause in rate hikes on the horizon The 10-year Treasury yield fell 13 basis points to 4.651%. "I actually don\'t think we need to increase rates any more," Bostic said during an interview with the American Bankers Association. "I think we are at a good place in that regard." Finding a "new equilibrium" for rates will be the next step following years of easy money, he added. Logan, meanwhile, noted that high bond yields may do the trick as far as cooling down the economy. "Higher term premiums result in higher term interest rates for the same setting of the fed funds rate, all else equal," she said in Dallas, during the National Association for Business Economics meeting. "Thus, if term premiums rise, they could do some of the work of cooling the economy for us, leaving less need for additional monetary policy tightening to achieve the FOMC\'s objectives." Here\'s where US indexes stood as the market closed at 4:00 p.m. on Tuesday: S&P 500 : 4,358.24, up 0.52% Dow Jones Industrial Average : 33,739.30, up 0.4% (+134.65 points) Nasdaq Composite : 13,562.84, up 0.58% Here\'s what else is going on: A trade group cautioned that the housing market will drag the economy into a hard landing unless the Fed takes certain "simple steps." Billionaire investor Paul Tudor Jones warned on stocks as Israel-Hamas conflict raises risks. Inflation could come roaring back and markets should be concerned , Deutsche Bank said. Argentine peso hit a record low, and Milei said "it can\'t be worth excrement." Fundstrat said stocks are bottoming and the market is approaching a perfect buying opportunity . Home prices have soared so much that 98 of the 100 biggest US cities are overvalued relative to historical levels. The IMF warned of bond market risks amid fears of a Silicon Valley Bank repeat . Jim Rogers rang the alarm on US debt and warned of bubbles in stocks and real estate. RBC says the yuan has a paltry share of reserves, so the dollar isn\'t going anywhere . Story continues In commodities, bonds, and crypto: Oil prices dropped, with West Texas Intermediate down 0.65% to $85.90 a barrel. Brent crude , the international benchmark, moved lower 0.65% to $87.58 a barrel. Gold edged higher 0.49% to $1,873.40 per ounce. The 10-year yield fell 13 basis points to 4.651%. Bitcoin dipped 0.70% to $27,412. Read the original article on Business Insider', '• US stocks climbed on Tuesday, with the Dow jumping more than 130 points.\n• Bond yields tumbled after Fed officials hinted that the end of rate hikes may be near.\n• The US 10-year Treasury dropped 13 basis points to hover at 4.651%.\nUS stocks climbed Tuesday, while bond yields dropped following comments from key Fed officials thathinted at the end of rate hikes. Investors also continue to monitor developments in the Israel-Hamas conflict.\nTurmoil in the bond market, which is coming off one of its worst sell-offs in history, showed signs of easing on Tuesday, with both Atlanta Fed President Raphael Bostic and Dallas Fed President Lorie Logan pointing to a potential pause in rate hikes on the horizon\nThe 10-year Treasury yield fell 13 basis points to 4.651%.\n"I actually don\'t think we need to increase rates any more," Bostic said during an interview with the American Bankers Association. "I think we are at a good place in that regard."\nFinding a "new equilibrium" for rates will be the next step following years of easy money, he added.\nLogan, meanwhile, noted that high bond yields may do the trick as far as cooling down the economy.\n"Higher term premiums result in higher term interest rates for the same setting of the fed funds rate, all else equal," she said in Dallas, during the National Association for Business Economics meeting. "Thus, if term premiums rise, they could do some of the work of cooling the economy for us, leaving less need for additional monetary policy tightening to achieve the FOMC\'s objectives."\nHere\'s where US indexes stood as the market closed at 4:00 p.m. on Tuesday:\n• S&P 500:4,358.24, up 0.52%\n• Dow Jones Industrial Average:33,739.30, up 0.4% (+134.65 points)\n• Nasdaq Composite:13,562.84, up 0.58%\nHere\'s what else is going on:\n• A trade group cautioned that the housing market will drag the economy into a hard landing unlessthe Fed takes certain "simple steps."\n• Billionaire investorPaul Tudor Jones warned on stocksas Israel-Hamas conflict raises risks.\n• Inflation could come roaring back andmarkets should be concerned, Deutsche Bank said.\n• Argentine peso hit a record low, andMilei said "it can\'t be worth excrement."\n• Fundstrat said stocks are bottoming andthe market is approaching a perfect buying opportunity.\n• Home prices have soared so much that98 of the 100 biggest US cities are overvaluedrelative to historical levels.\n• The IMF warned of bond market risks amidfears of a Silicon Valley Bank repeat.\n• Jim Rogers rang the alarm on US debt andwarned of bubblesin stocks and real estate.\n• RBC says the yuan has a paltry share of reserves, sothe dollar isn\'t going anywhere.\nIn commodities, bonds, and crypto:\n• Oil prices dropped, withWest Texas Intermediatedown 0.65% to $85.90 a barrel.Brent crude, the international benchmark, moved lower 0.65% to $87.58 a barrel.\n• Goldedged higher 0.49% to $1,873.40 per ounce.\n• The10-year yieldfell 13 basis points to 4.651%.\n• Bitcoindipped 0.70% to $27,412.\nRead the original article onBusiness Insider', "Bitcoin slipped 1.2% to trade just over $27,000 during the Asian afternoon hours on Wednesday as worsening scenarios in the Hamas-Israel conflict shattered investor confidence in riskier assets. Earlier this week, traders told CoinDesk they expected prices to move lower as investors shy away from traditional equities and risk assets in favor of gold and oil – whose prices have gained as much as 6% in the past week. Crypto markets slumped over 1.6% in the past 24 hours, the CoinDesk Market Index (CMI), a broad-based guage for tracking hundreds of tokens, shows. Ether fell 2.2% to extend weekly losses to over 5%, while XRP tokens led a decline in alternative currencies with a 3% drop. Among other major tokens, Polkadot’s DOT and Polygon’s MATIC slumped 3%, while Tezos’s XTZ dropped 8%. Render network’s RNDR was the only gainer among large-cap tokens with a 3% gain in the past 24 hours. FxPro market analysts said in a daily note that bitcoin’s attempt to break the $28,000 level last week triggered a “wave of selling that took the price back to $27,000,” with the profit taking suggesting investors were not keeping their money held up in risky bets just yet. “Interestingly, the pressure on Bitcoin came when the risk appetite in traditional markets was recovering,” FxPro said, citing Tuesday’s gains in U.S. stocks. “We attribute this to Monday's US defaulted debt markets rather than the moving of money from one asset to another.”", "Bitcoin slipped 1.2% to trade just over $27,000 during the Asian afternoon hours on Wednesday as worsening scenarios in the Hamas-Israel conflict shattered investor confidence in riskier assets.\nEarlier this week, traders told CoinDesk they expected prices to move lower as investors shy away from traditional equities and risk assets in favor of gold and oil – whose prices have gained as much as 6% in the past week.\nCrypto markets slumped over 1.6% in the past 24 hours, the CoinDesk Market Index (CMI), a broad-based guage for tracking hundreds of tokens, shows. Ether fell 2.2% to extend weekly losses to over 5%, while XRP tokens led a decline in alternative currencies with a 3% drop.\nAmong other major tokens, Polkadot’s DOT and Polygon’s MATIC slumped 3%, while Tezos’s XTZ dropped 8%. Render network’s RNDR was the only gainer among large-cap tokens with a 3% gain in the past 24 hours.\nFxPro market analysts said in a daily note that bitcoin’s attempt to break the $28,000 level last week triggered a “wave of selling that took the price back to $27,000,” with the profit taking suggesting investors were not keeping their money held up in risky bets just yet.\n“Interestingly, the pressure on Bitcoin came when the risk appetite in traditional markets was recovering,” FxPro said, citing Tuesday’s gains in U.S. stocks. “We attribute this to Monday's US defaulted debt markets rather than the moving of money from one asset to another.”", "Bitcoin slipped 1.2% to trade just over $27,000 during the Asian afternoon hours on Wednesday as worsening scenarios in the Hamas-Israel conflict shattered investor confidence in riskier assets.\nEarlier this week, traders told CoinDesk they expected prices to move lower as investors shy away from traditional equities and risk assets in favor of gold and oil – whose prices have gained as much as 6% in the past week.\nCrypto markets slumped over 1.6% in the past 24 hours, the CoinDesk Market Index (CMI), a broad-based guage for tracking hundreds of tokens, shows. Ether fell 2.2% to extend weekly losses to over 5%, while XRP tokens led a decline in alternative currencies with a 3% drop.\nAmong other major tokens, Polkadot’s DOT and Polygon’s MATIC slumped 3%, while Tezos’s XTZ dropped 8%. Render network’s RNDR was the only gainer among large-cap tokens with a 3% gain in the past 24 hours.\nFxPro market analysts said in a daily note that bitcoin’s attempt to break the $28,000 level last week triggered a “wave of selling that took the price back to $27,000,” with the profit taking suggesting investors were not keeping their money held up in risky bets just yet.\n“Interestingly, the pressure on Bitcoin came when the risk appetite in traditional markets was recovering,” FxPro said, citing Tuesday’s gains in U.S. stocks. “We attribute this to Monday's US defaulted debt markets rather than the moving of money from one asset to another.”", "If you are new to the gambling world and want to know how to choose a safe online casino then keep reading. Wellington, New Zealand --News Direct-- Acroud Media Playing at online casinos is a popular and entertaining pass time for many people across New Zealand. However, not all online casinos are created equal. Some may offer better games, bonuses, and customer service than others, and some may be more secure, fair, and trustworthy. How can you tell which online casinos are safe to play at and which ones are best avoided? This article contains factors to consider when choosing a secure offshore casino in NZ. Criteria on How To Pick Safe Online Casinos Licensing and Regulation The first and most important thing to consider is whether the online casino is licensed and regulated by an appropriate gambling authority. Licenses to look out for are from the UK Gambling Commission (UKGC), the Malta Gaming Authority (MGA), and the Gibraltar Regulatory Authority (GRA). The UKGC is the official gambling authority in the UK that oversees all forms of gambling, including online casinos. The MGA and GRA license casinos across Europe and Gibraltar. These governing bodies ensure that online casinos comply with strict safety standards, fairness, and responsible gambling. You can check if these governing bodies license an online casino by looking for the logo and license number at the bottom of the website\x92s homepage or by searching its name on the public registers. If an online casino does not have a license, playing is illegal and unsafe. Customer Reviews Another way to determine if an online casino is safe is to check its reputation and reviews from other players and experts. You can read online casino reviews from trusted sources such as livemint.com . These reviews should give you an overview of what experts thought of the online casino's games, bonuses, customer services, payment methods, and security features. You can also look for user comments on online forums, social media accounts, or other review sites. Story continues Games and Software The variety and the quality of games is also an important factor when choosing an offshore online casino. Players want to play games that are fun, fair, and safe. To ensure this, you should look for games powered by reputable software providers certified by independent testing agencies such as eCOGRA, iTech Labs, or GLI (Gaming Labs International). These agencies verify that the games use random number generators (RNGs) that produce fair and unpredictable outcomes. Some of the most popular and reliable software providers across online casinos include Microgaming, NetEnt, Playtech, Evolution Gaming, and IGT. Bonuses and Promotions Bonuses are one of the main attractions of online casinos, as they make your gambling experience more fun. However, not all bonuses are recommended. Some may have hidden terms and conditions that make them hard to claim or withdraw. Therefore, players should always read the terms and conditions before claiming any bonus offer. Players should look out for wagering requirements, which is the number of times you must bet the bonus amount before you can cash out your winnings - the lower, the better. You should also look for other terms such as expiry dates, game or payment restrictions, minimum deposits, and maximum winnings. Payment Methods The last step is to check the methods you can use for depositing and withdrawing money at an online casino. You want to look for payment methods that are convenient, fast, secure and have minimal fees. Some of the most common payment methods in New Zealand include debit or credit cards (e.g. Visa and Mastercard), e-wallets (such as PayPal, Skrill, or Neteller), prepaid cards (such as Paysafecard), bank transfers, or cryptocurrencies (such as Bitcoin). You should also check if the online casino charges any fees or has any limits on deposits or withdrawals. On top of this, you should look into how the online casino protects your personal and financial information, including your address and banking information. Security measures to look out for are SSL encryption data, firewall protection, multiple identity verification, and anti-money laundering policies. Conclusion If you use these tips, picking a safe offshore casino in New Zealand is easy. But remember to always do your own research before signing up for any online casino. It is vital to be safe while playing at an offshore casino, so be sure to use our top tips. 18+ Please Gamble Responsibly. Contact Details Acroud Media [email protected] View source version on newsdirect.com: https://newsdirect.com/news/how-to-choose-a-safe-offshore-online-casino-in-new-zealand-467599487", "If you are new to the gambling world and want to know how to choose a safe online casino then keep reading. Wellington, New Zealand --News Direct-- Acroud Media Playing at online casinos is a popular and entertaining pass time for many people across New Zealand. However, not all online casinos are created equal. Some may offer better games, bonuses, and customer service than others, and some may be more secure, fair, and trustworthy. How can you tell which online casinos are safe to play at and which ones are best avoided? This article contains factors to consider when choosing a secure offshore casino in NZ. Criteria on How To Pick Safe Online Casinos Licensing and Regulation The first and most important thing to consider is whether the online casino is licensed and regulated by an appropriate gambling authority. Licenses to look out for are from the UK Gambling Commission (UKGC), the Malta Gaming Authority (MGA), and the Gibraltar Regulatory Authority (GRA). The UKGC is the official gambling authority in the UK that oversees all forms of gambling, including online casinos. The MGA and GRA license casinos across Europe and Gibraltar. These governing bodies ensure that online casinos comply with strict safety standards, fairness, and responsible gambling. You can check if these governing bodies license an online casino by looking for the logo and license number at the bottom of the website\x92s homepage or by searching its name on the public registers. If an online casino does not have a license, playing is illegal and unsafe. Customer Reviews Another way to determine if an online casino is safe is to check its reputation and reviews from other players and experts. You can read online casino reviews from trusted sources such as livemint.com . These reviews should give you an overview of what experts thought of the online casino's games, bonuses, customer services, payment methods, and security features. You can also look for user comments on online forums, social media accounts, or other review sites. Story continues Games and Software The variety and the quality of games is also an important factor when choosing an offshore online casino. Players want to play games that are fun, fair, and safe. To ensure this, you should look for games powered by reputable software providers certified by independent testing agencies such as eCOGRA, iTech Labs, or GLI (Gaming Labs International). These agencies verify that the games use random number generators (RNGs) that produce fair and unpredictable outcomes. Some of the most popular and reliable software providers across online casinos include Microgaming, NetEnt, Playtech, Evolution Gaming, and IGT. Bonuses and Promotions Bonuses are one of the main attractions of online casinos, as they make your gambling experience more fun. However, not all bonuses are recommended. Some may have hidden terms and conditions that make them hard to claim or withdraw. Therefore, players should always read the terms and conditions before claiming any bonus offer. Players should look out for wagering requirements, which is the number of times you must bet the bonus amount before you can cash out your winnings - the lower, the better. You should also look for other terms such as expiry dates, game or payment restrictions, minimum deposits, and maximum winnings. Payment Methods The last step is to check the methods you can use for depositing and withdrawing money at an online casino. You want to look for payment methods that are convenient, fast, secure and have minimal fees. Some of the most common payment methods in New Zealand include debit or credit cards (e.g. Visa and Mastercard), e-wallets (such as PayPal, Skrill, or Neteller), prepaid cards (such as Paysafecard), bank transfers, or cryptocurrencies (such as Bitcoin). You should also check if the online casino charges any fees or has any limits on deposits or withdrawals. On top of this, you should look into how the online casino protects your personal and financial information, including your address and banking information. Security measures to look out for are SSL encryption data, firewall protection, multiple identity verification, and anti-money laundering policies. Conclusion If you use these tips, picking a safe offshore casino in New Zealand is easy. But remember to always do your own research before signing up for any online casino. It is vital to be safe while playing at an offshore casino, so be sure to use our top tips. 18+ Please Gamble Responsibly. Contact Details Acroud Media [email protected] View source version on newsdirect.com: https://newsdirect.com/news/how-to-choose-a-safe-offshore-online-casino-in-new-zealand-467599487", "Dubai, United Arab Emirates--(Newsfile Corp. - October 11, 2023) - The world of cryptocurrency and Forex, known for its volatility, is set to embark on an extraordinary journey-the Sea Summit. This blend of a cryptocurrency conference, Forex Expo, and a luxury cruise vacation for 9 days has captured the attention of the community.\nSea Summit Event\nSea Summitpromises a distinctive fusion of financial technologies like Crypto and Forex, providing a platform for discussions on the future of Bitcoin, crypto trading master classes hosted by popular influencers, product launches by promising crypto and Forex start-ups at sea, participation in crowdfunding, and engaging discussions led by top industry leaders-all in the backdrop of the open sea. Sea Summit will start from Mumbai on 15th December and will reach Dubai on 18th December. Activities and Expo at Dubai will take place till 21st December.\nWhat can attendees expect at Sea Summit?\nDive into informative crypto sessions, connect with the global crypto community, and witness groundbreaking pitches by start-ups seeking investment from influential venture capitalists. Additionally, the event boasts 25 themed events happening every day, offering plenty of opportunities for networking and collaboration.\nThe numbers certainly speak volumes about the event's scale:\n●12,000 Enthusiasts:Ranging from newcomers to experts in Crypto and Forex.\n●300+ Power Talks:Delivered by industry leaders and visionaries in the cryptocurrency and Forex world.\n●200+ Seminars:Live Trading masterclass by the world's top 100 crypto and forex influencers\n●Spotlight on Crypto and Forex Start-Ups:Providing young crypto businesses a chance to impress over 300 venture capitalists.\n●The Ultimate CrowdFunding in History:A unique opportunity for live crowdfunding, with potential participation from 6,000-12,000+ premium crypto and Forex investors.\n●The Ultimate Numbers:500-1,000+ Crypto and Forex Start-ups.\n●Premium networking:Premium interaction with VIPs in the cryptocurrency and Forex industry.\nBeyond cryptocurrency discussions, attendees can enjoy gourmet dining, state-of-the-art entertainment zones.\nFor start-ups, the opportunity to pitch their ideas to 300+ crypto VCs amidst the serene setting of the sea is undoubtedly unique.\nThe Sea Summit represents a substantial investment in the future of crypto, with a budget exceeding $40 million. It's not just an event; it has the potential to set trends in the crypto and Forex industry. The event received a 3 million USD sponsorship commitment fromLavish Choudhary, a prominent crypto entrepreneur in India. However, it's important to note that sponsorship acceptance by the organizers remains unconfirmed at the time of writing this article.\nDistinguished leaders in the crypto world, includingAbhyudoy Das,Vinay Chandra Lal, and other global leaders and influencers in the crypto and Forex industry, are the key part of the foundation, lending credibility to the initiative.Abhyudoy Das, had established the Crypto Derivatives market in India all by himself in the last 2 years as Country Head of South Asia.\nFor crypto enthusiasts, the Sea Summit is more than just talks and discussions; it's an opportunity to experience the future of crypto in a luxurious and intellectually stimulating environment.\nIn summary,the Sea Summit 2023 has the true potential to become a significant event in the crypto and Forex calendar. Its scale, offerings, and potential impact make it an event worth considering for crypto and Forex community members, investors, and traders. It offers an enticing mix of luxury and cryptocurrency, making it an event that crypto enthusiasts may find intriguing.\nMedia Contact Details\nOrganization name: Sea SummitWebsite:seasummit.comContact: +916295313843Email:[email protected]\nTo view the source version of this press release, please visithttps://www.newsfilecorp.com/release/183500", "Dubai, United Arab Emirates--(Newsfile Corp. - October 11, 2023) - The world of cryptocurrency and Forex, known for its volatility, is set to embark on an extraordinary journey-the Sea Summit. This blend of a cryptocurrency conference, Forex Expo, and a luxury cruise vacation for 9 days has captured the attention of the community. Sea Summit Event Sea Summit promises a distinctive fusion of financial technologies like Crypto and Forex, providing a platform for discussions on the future of Bitcoin, crypto trading master classes hosted by popular influencers, product launches by promising crypto and Forex start-ups at sea, participation in crowdfunding, and engaging discussions led by top industry leaders-all in the backdrop of the open sea. Sea Summit will start from Mumbai on 15th December and will reach Dubai on 18th December. Activities and Expo at Dubai will take place till 21st December. What can attendees expect at Sea Summit? Dive into informative crypto sessions, connect with the global crypto community, and witness groundbreaking pitches by start-ups seeking investment from influential venture capitalists. Additionally, the event boasts 25 themed events happening every day, offering plenty of opportunities for networking and collaboration. The numbers certainly speak volumes about the event's scale: ● 12,000 Enthusiasts: Ranging from newcomers to experts in Crypto and Forex. ● 300+ Power Talks: Delivered by industry leaders and visionaries in the cryptocurrency and Forex world. ● 200+ Seminars: Live Trading masterclass by the world's top 100 crypto and forex influencers ● Spotlight on Crypto and Forex Start-Ups: Providing young crypto businesses a chance to impress over 300 venture capitalists. ● The Ultimate CrowdFunding in History: A unique opportunity for live crowdfunding, with potential participation from 6,000-12,000+ premium crypto and Forex investors. ● The Ultimate Numbers: 500-1,000+ Crypto and Forex Start-ups. Story continues ● Premium networking: Premium interaction with VIPs in the cryptocurrency and Forex industry. Beyond cryptocurrency discussions, attendees can enjoy gourmet dining, state-of-the-art entertainment zones. For start-ups, the opportunity to pitch their ideas to 300+ crypto VCs amidst the serene setting of the sea is undoubtedly unique. The Sea Summit represents a substantial investment in the future of crypto, with a budget exceeding $40 million. It's not just an event; it has the potential to set trends in the crypto and Forex industry. The event received a 3 million USD sponsorship commitment from Lavish Choudhary , a prominent crypto entrepreneur in India. However, it's important to note that sponsorship acceptance by the organizers remains unconfirmed at the time of writing this article. Distinguished leaders in the crypto world, including Abhyudoy Das , Vinay Chandra Lal , and other global leaders and influencers in the crypto and Forex industry, are the key part of the foundation, lending credibility to the initiative. Abhyudoy Das , had established the Crypto Derivatives market in India all by himself in the last 2 years as Country Head of South Asia. For crypto enthusiasts, the Sea Summit is more than just talks and discussions; it's an opportunity to experience the future of crypto in a luxurious and intellectually stimulating environment. In summary, the Sea Summit 2023 has the true potential to become a significant event in the crypto and Forex calendar. Its scale, offerings, and potential impact make it an event worth considering for crypto and Forex community members, investors, and traders. It offers an enticing mix of luxury and cryptocurrency, making it an event that crypto enthusiasts may find intriguing. Media Contact Details Organization name: Sea Summit Website: seasummit.com Contact: +916295313843 Email: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183500", 'Long-term investors continue to buy up bitcoin [BTC] at a brisk pace, contributing to market illiquidity, data by blockchain analytics firmGlassnodeshow.\nTheHODLernet position change metric shows long-term investors or wallets with a history of holding coins for at least 155 days have been accumulating 50,000 BTC ($1.35 billion) per month.\nThe total number of BTC held by long-term holders has reached a new all-time high of over 14.859 million BTC, amounting to 76% of the cryptocurrency\'s circulating supply.\n"Over +50k BTC per month are currently being Vaulted by HODLers, suggesting both a tightening supply and a widespread reluctance to transact," Glassnode said in the latest weekly report, adding that the market is experiencing a sustained regime of coin dormancy.\nDormant coins are those that haven\'t been spent on-chain over a given period. Increased coin dormancy means coins are being held for longer periods of time in an illiquid state.\nIn other words, it indicates a relative weakness of supply-side pressure in the market and the potential for an exaggerated price rally.\nWe may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see ourEthics Policy.', 'Long-term investors continue to buy up bitcoin [BTC] at a brisk pace, contributing to market illiquidity, data by blockchain analytics firm Glassnode show. The HODLer net position change metric shows long-term investors or wallets with a history of holding coins for at least 155 days have been accumulating 50,000 BTC ($1.35 billion) per month. The total number of BTC held by long-term holders has reached a new all-time high of over 14.859 million BTC, amounting to 76% of the cryptocurrency\'s circulating supply. "Over +50k BTC per month are currently being Vaulted by HODLers, suggesting both a tightening supply and a widespread reluctance to transact," Glassnode said in the latest weekly report, adding that the market is experiencing a sustained regime of coin dormancy. Dormant coins are those that haven\'t been spent on-chain over a given period. Increased coin dormancy means coins are being held for longer periods of time in an illiquid state. In other words, it indicates a relative weakness of supply-side pressure in the market and the potential for an exaggerated price rally. The metric tracks buying/selling activity of addresses controlled by entities known to hold coins for at least 155 days (Glassnode) We may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see our Ethics Policy .', 'Long-term investors continue to buy up bitcoin [BTC] at a brisk pace, contributing to market illiquidity, data by blockchain analytics firmGlassnodeshow.\nTheHODLernet position change metric shows long-term investors or wallets with a history of holding coins for at least 155 days have been accumulating 50,000 BTC ($1.35 billion) per month.\nThe total number of BTC held by long-term holders has reached a new all-time high of over 14.859 million BTC, amounting to 76% of the cryptocurrency\'s circulating supply.\n"Over +50k BTC per month are currently being Vaulted by HODLers, suggesting both a tightening supply and a widespread reluctance to transact," Glassnode said in the latest weekly report, adding that the market is experiencing a sustained regime of coin dormancy.\nDormant coins are those that haven\'t been spent on-chain over a given period. Increased coin dormancy means coins are being held for longer periods of time in an illiquid state.\nIn other words, it indicates a relative weakness of supply-side pressure in the market and the potential for an exaggerated price rally.\nWe may earn a commission from partner links. Commissions do not affect our journalists’ opinions or evaluations. For more, see ourEthics Policy.', 'Bitcoin [BTC] is a monetary good and an attractive store of value in a progressively digital world, Fidelity Digital Assets, a unit of financial services giant Fidelity investments, saidlast week.\nTraditional investors tend to use a technology investing framework when analyzing bitcoin, which leads them to the wrong conclusion that the cryptocurrency “as a first-mover technology, will easily be supplanted by a superior one or have lower returns,” analysts Chris Kuiper and Jack Neureuter wrote.\nHowever, “bitcoin’s first technological breakthrough was not as a superior payment technology, but as a superior form of money,” the authors wrote.\n“Bitcoin is fundamentally different from any other digital asset,” the report said, and other cryptocurrencies are unlikely to improve on BTC as a monetary good because it is the most “secure, decentralized, sound digital money.”\nThe success of the Bitcoin network is not mutually exclusive with the success of other networks, the report argued, as the rest of the digital asset ecosystem can service different needs or solve other problems that bitcoin can’t.\nAccording to the report, the world’s largest cryptocurrency’s return profile is driven by two powerful tailwinds: “global growth of the broader digital asset ecosystem and the potential instability of traditional macroeconomic conditions.”\n“Bitcoin should be considered first and separate from all other digital assets that have followed it,” and it should be viewed as an entry point for traditional allocators looking to gain exposure to the sector, the report added.\nRead more:Bitcoin Is Better Than Digital Gold: Matrixport', 'Bitcoin [BTC] is a monetary good and an attractive store of value in a progressively digital world, Fidelity Digital Assets, a unit of financial services giant Fidelity investments, said last week . Traditional investors tend to use a technology investing framework when analyzing bitcoin, which leads them to the wrong conclusion that the cryptocurrency “as a first-mover technology, will easily be supplanted by a superior one or have lower returns,” analysts Chris Kuiper and Jack Neureuter wrote. However, “bitcoin’s first technological breakthrough was not as a superior payment technology, but as a superior form of money,” the authors wrote. “Bitcoin is fundamentally different from any other digital asset,” the report said, and other cryptocurrencies are unlikely to improve on BTC as a monetary good because it is the most “secure, decentralized, sound digital money.” The success of the Bitcoin network is not mutually exclusive with the success of other networks, the report argued, as the rest of the digital asset ecosystem can service different needs or solve other problems that bitcoin can’t. According to the report, the world’s largest cryptocurrency’s return profile is driven by two powerful tailwinds: “global growth of the broader digital asset ecosystem and the potential instability of traditional macroeconomic conditions.” “Bitcoin should be considered first and separate from all other digital assets that have followed it,” and it should be viewed as an entry point for traditional allocators looking to gain exposure to the sector, the report added. Read more: Bitcoin Is Better Than Digital Gold: Matrixport', 'Bitcoin [BTC] is a monetary good and an attractive store of value in a progressively digital world, Fidelity Digital Assets, a unit of financial services giant Fidelity investments, saidlast week.\nTraditional investors tend to use a technology investing framework when analyzing bitcoin, which leads them to the wrong conclusion that the cryptocurrency “as a first-mover technology, will easily be supplanted by a superior one or have lower returns,” analysts Chris Kuiper and Jack Neureuter wrote.\nHowever, “bitcoin’s first technological breakthrough was not as a superior payment technology, but as a superior form of money,” the authors wrote.\n“Bitcoin is fundamentally different from any other digital asset,” the report said, and other cryptocurrencies are unlikely to improve on BTC as a monetary good because it is the most “secure, decentralized, sound digital money.”\nThe success of the Bitcoin network is not mutually exclusive with the success of other networks, the report argued, as the rest of the digital asset ecosystem can service different needs or solve other problems that bitcoin can’t.\nAccording to the report, the world’s largest cryptocurrency’s return profile is driven by two powerful tailwinds: “global growth of the broader digital asset ecosystem and the potential instability of traditional macroeconomic conditions.”\n“Bitcoin should be considered first and separate from all other digital assets that have followed it,” and it should be viewed as an entry point for traditional allocators looking to gain exposure to the sector, the report added.\nRead more:Bitcoin Is Better Than Digital Gold: Matrixport', 'Ether, the second-largest cryptocurrency, may rise more than five-fold in value by the end of 2026, according to global bank Standard Chartered, its latest prediction of rocketing crypto prices. Ether may hit $8,000 over the next two years as it becomes more widely used in blockchain-based covenants known as "smart contracts," as well as gaming and the "tokenisation" of traditional assets, StanChart Head of FX Research, West, Geoff Kendrick wrote. Ether was trading on Wednesday at about $1,575. Assessing the value of cryptocurrencies is fraught with difficulty, as tokens such as ether or bitcoin that are not backed by traditional assets lack the gauges used to price stocks, bonds or currencies. The price of crypto tokens are generally driven by the sentiment of investors. "We see the $8,000 level as a stepping stone to our long-term \'structural\' valuation estimate of $26,000-$35,000," wrote Kendrick, who also heads the bank\'s digital assets research. "That valuation assumes future use cases and revenue streams that may not have emerged yet, although the real-world use cases of gaming and tokenisation should support their development." Kendrick told Reuters that the structural valuation estimate was "very long term, say 2040." Ether has gained some 30% this year, though remains almost 70% below its all-time high of about $4,869, hit in Nov. 2021. StanChart said in July that top crypto token bitcoin could reach $50,000 this year and $120,000 by the end of 2024. Bitcoin was last trading at around $27,275. (Reporting by Tom Wilson and Elizabeth Howcroft, Editing by Louise Heavens) View comments', 'Ether, the second-largest cryptocurrency, may rise more than five-fold in value by the end of 2026, according to global bank Standard Chartered, its latest prediction of rocketing crypto prices.\nEther may hit $8,000 over the next two years as it becomes more widely used in blockchain-based covenants known as "smart contracts," as well as gaming and the "tokenisation" of traditional assets, StanChart Head of FX Research, West, Geoff Kendrick wrote.\nEther was trading on Wednesday at about $1,575.\nAssessing the value of cryptocurrencies is fraught with difficulty, as tokens such as ether or bitcoin that are not backed by traditional assets lack the gauges used to price stocks, bonds or currencies. The price of crypto tokens are generally driven by the sentiment of investors.\n"We see the $8,000 level as a stepping stone to our long-term \'structural\' valuation estimate of $26,000-$35,000," wrote Kendrick, who also heads the bank\'s digital assets research.\n"That valuation assumes future use cases and revenue streams that may not have emerged yet, although the real-world use cases of gaming and tokenisation should support their development."\nKendrick told Reuters that the structural valuation estimate was "very long term, say 2040."\nEther has gained some 30% this year, though remains almost 70% below its all-time high of about $4,869, hit in Nov. 2021.\nStanChart said in July that top crypto token bitcoin could reach $50,000 this year and $120,000 by the end of 2024. Bitcoin was last trading at around $27,275.\n(Reporting by Tom Wilson and Elizabeth Howcroft, Editing by Louise Heavens)', 'Bitcoin (BTC) is way off its 2021 peak and has been falling since hitting a 52-week high in July 2023. The price fluctuations in this benchmark crypto have also weighed down on other cryptocurrencies, and the digital currency market has been turbulent this year. In an environment of constantly rising interest rates, Bitcoin has struggled to attract speculators.\nHowever, being the most well-known and “reliable” digital coin, BTC has solidified its position within the market itself. At the beginning of the year, it accounted for about 38% of the entire crypto market. As of Oct 10, per CoinGecko data, it has extended its share to control more than 48.6% of the market. In comparison, the second most well-known crypto, Ethereum (ETH), has lost a major chunk of its market cap. In an uncertain environment, investors turn less speculative and rush to safety. Crypto investors are no different, just that Bitcoin has been making the most of this opportunity at the cost of altcoins.\nThe crypto market has rebounded from the 2022 rout, and BTC’s revival peaked in July at a 90% appreciation in price. However, it has now settled back down to 67%. Since late September, it has been hovering above the $27,000 mark, almost hitting $28,000 on Oct 7. In this light, with growing institutional acceptance for crypto across geographies, the benchmark digital currency might be entering a period of less volatility and sustained growth. Multiple traditional financial houses applying for a Bitcoin ETF have also acted as a tailwind. The time maybe ripe to closely monitor a few stocks heavily exposed to BTC.\nNVIDIA CorporationNVDA is a semiconductor industry giant and one of the biggest success stories of 2023. As a leading graphic processing unit (GPU) designer, Nvidia stock usually soars with a booming crypto market because GPUs are pivotal for data centers, artificial intelligence, and Bitcoin and altcoin mining.NVDA’s expected earnings growth rate for the current year is 221.6%. The Zacks Consensus Estimate for its current-year earnings has improved 37.9% over the past 60 days. NVDA currently carries a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.\nStronghold Digital Mining, Inc.SDIG is a crypto asset mining company that focuses on mining Bitcoin in the United States. SDIG’s expected earnings growth rate for the current year is 97.7%. The Zacks Consensus Estimate for its current-year earnings has improved 68.7% over the past 60 days. SDIG currently carries a Zacks Rank #3 (Hold).\nCleanSpark, Inc.CLSK is a company that mines and develops sustainable infrastructure for Bitcoin. Cleanspark’s expected earnings growth rate for next year is 89.1%. The Zacks Consensus Estimate for its current-year earnings has remained unchanged over the past 60 days. CLSK currently carries a Zacks Rank #3.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\nNVIDIA Corporation (NVDA) : Free Stock Analysis Report\nCl
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-11
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $528,594,420,544
- Hash Rate: 455914820.74455184
- Transaction Count: 264600.0
- Unique Addresses: 607097.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.47
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- Daily Tweets (Sample): N/A
- Contextual Past News Article: Faruk Fatih Özer, the founder of the collapsed Turkish crypto exchange Thodex, his sister Serap Özer and his brother Güven Özer have been sentenced to 11,196 years, 10 months and 15 days in prison, according to local media. A judicial fine of 135 million liras ($5 million approx.) was also imposed. Thodex was one of Turkey's largest crypto exchanges before it suddenly went offline in April 2021 and Özer went missing. Over 400,000 members were left in the dark without access to deposits of $2 billion in cryptocurrencies. Özer had fled to Albania but was arrested in August 2022 after an Interpol red notice against him. By April 2023, Özer was extradited to Turkey, and detained by police upon arrival on seven charges, including establishing and managing an organization with the purpose of committing a crime, being a member of an organization, fraud by using information systems as a tool of banks or credit institutions, fraud of merchants or company executives and cooperative managers, and laundering the value of assets resulting from crime. When the case came to light, Özer's brother, sister and four other senior employees were jailed and at least 83 people were detained as part of the investigation. The eventual trial saw 21 defendants facing up to 40,564 years in prison. The Anatolian 9th Heavy Penal Court announced the verdict on Thursday, acquitting 16 of the 21 defendants and releasing four of the seven jailed due to a lack of evidence. Other defendants were given varying degrees of imprisonment for various crimes. The collapse of Thodex created a stir in Turkey where crypto has been used as a hedge against sky-high inflation and the steep devaluation of the lira . Read More: Bitcoin Dreams Are Coming True in Argentina and Turkey View comments...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['The Hamas terrorist organization and its affiliates have received millions in cryptocurrency donations, according to areportby the Wall Street Journal based on data from forensics firm Elliptic and Tel Aviv software company BitOK.\nPalestinian Islamic Jihad received $93 million in crypto between August 2021 and June 2023, Elliptic said. Hamas received about $41 million in the same timeframe, the report read.\nCrypto is often seen as a subterfuge financing method for groups and nations cut from the U.S. controlled global financial system. North Korean hackers, for instance, havegained millions of dollarsin crypto from hacking various protocols and projects. Because of the privacy-preserving nature of many cryptocurrencies, these flows of funds are hard to track, raising anxiety among government agencies.“\n"This is not an easy task,” Israeli Defense Minister Yoav Gallant told the WSJ.\nCoinDeskreportedthis June that Hamas’ militant wing, Izz ad-Din al-Qassam Brigades, had received up to $100,000 in bitcoin (BTC) since the beginning of 2021 – with a spike in donations in May, when Israel and Hamas exchanged rocket attacks. Binance was at the center of the transactions, according to data from three blockchain analytics firms and CoinDesk’s analysis.\nStill, crypto is not the main source of money for Hamas and affiliated groups such as Palestinian Islamic Jihad and Hezbollah, based in Lebanon. Iran is by far the largest funding source, to the tune of $100 million a year, according to the U.S. government.\n“Crypto is a very small part of Hamas’ fundraising strategy. It’s mostly state-sponsored,” Ari Redbord, head of legal and government affairs of blockchain intelligence firm TRM Labs, told CoinDesk. “There’s a focus on it because you are trying to cut off financing by any means. But it’s a relatively small part of the picture.”', 'Bryan R Smith Stocks inched higher Wednesday as investors read through the latest Fed minutes. Central bankers remained mostly hawkish on their approach to inflation at the last policy meeting. Investors are eyeing the September CPI report due out on Thursday morning. US stocks rose on Wednesday as investors digested the latest minutes of September\'s Federal Reserve meeting and looked ahead for the September Consumer Price Index report, which is set to roll out Thursday morning. Major indexes ended the day mostly flat, though the S&P 500 and Nasdaq Composite finished slightly in the green. Central bankers signaled that they would continue to remain cautious on inflation at their last policy meeting, per the latest minutes. Though they acknowledged inflation expectations remain "well anchored," prices are still well-above the Fed\'s 2% target, having accelerated 3.7% in August . Around two-thirds of Fed members predicted one more rate hike before the end of 2023, according to the Fed\'s dot plot of interest rate expectations. Investors, though, have priced in a 91% chance the Fed will keep interest rates level at their next policy meeting, per the CME FedWatch tool. When accounting for inflationary pressures stemming from the Russia-Ukraine war, the Israel-Hamas war, and the UAW strike, the Fed will likely raise rates just 0.25% in December before pausing for good, according to Comerica Bank chief economist Bill Adams. "Either way, the Fed is likely to pivot to interest rate cuts in mid-2024 as core inflation, wage growth, housing prices, and other broad measures of price pressures move closer to pre-pandemic levels," Adams said in a note on Wednesday. Investors are now looking ahead to the September inflation report, due at 8:30 a.m. on Thursday. Economists are expecting inflation to have accelerated 3.6% last month, with core prices accelerating 4.1%. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Wednesday: S&P 500 : 4,376.94, up 0.43% Story continues Dow Jones Industrial Average : 33,804.81, up 0.19% (+65.51 points) Nasdaq Composite : 13,659.68, up 0.71% Here\'s what else is going on today: Bonds are offering investors equity-like returns , according to billionaire Howard Marks. Stocks and bonds are in for a \'painful\' journey ahead - and that makes cash more attractive, according to top economist Mohamed El-Erian. A key corner of Wall Street is making its most bearish bet against stocks ever . Janet Yellen says she supports using frozen Russian assets to help Ukraine . China is boosting its efforts to spread the yuan as it dumps $7.5 billion in offshore bonds. The housing market is in a bubble , but home prices may not fall anytime soon. In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 2.27% to $84.02 a barrel. Brent crude , the international benchmark, slipped 1.5% to $86.33 a barrel. Gold inched higher 0.64% to $1,887.30 per ounce. The 10-year Treasury yield slipped eight basis-points to 4.566%. Bitcoin slumped 2.63% to $26,693. Read the original article on Business Insider', '• Stocks inched higher Wednesday as investors read through the latest Fed minutes.\n• Central bankers remained mostly hawkish on their approach to inflation at the last policy meeting.\n• Investors are eyeing the September CPI report due out on Thursday morning.\nUS stocks rose on Wednesday as investors digested the latest minutes of September\'s Federal Reserve meeting and looked ahead for the September Consumer Price Index report, which is set to roll out Thursday morning.\nMajor indexes ended the day mostly flat, though the S&P 500 and Nasdaq Composite finished slightly in the green.\nCentral bankers signaled that they would continue to remain cautious on inflation at their last policy meeting, per the latest minutes. Though they acknowledged inflation expectations remain "well anchored," prices are still well-above the Fed\'s 2% target,having accelerated 3.7% in August.\nAround two-thirds of Fed members predicted one more rate hike before the end of 2023, according to the Fed\'s dot plot of interest rate expectations.\nInvestors, though, have priced in a 91% chance the Fed will keep interest rates level at their next policy meeting, per the CME FedWatch tool.\nWhen accounting for inflationary pressures stemming from the Russia-Ukraine war, the Israel-Hamas war, and the UAW strike, the Fed will likely raise rates just 0.25% in December before pausing for good, according to Comerica Bank chief economist Bill Adams.\n"Either way, the Fed is likely to pivot to interest rate cuts in mid-2024 as core inflation, wage growth, housing prices, and other broad measures of price pressures move closer to pre-pandemic levels," Adams said in a note on Wednesday.\nInvestors are now looking ahead to the September inflation report, due at 8:30 a.m. on Thursday. Economists are expecting inflation to have accelerated 3.6% last month, with core prices accelerating 4.1%.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Wednesday:\n• S&P 500:4,376.94, up 0.43%\n• Dow Jones Industrial Average:33,804.81, up 0.19% (+65.51 points)\n• Nasdaq Composite:13,659.68, up 0.71%\nHere\'s what else is going on today:\n• Bonds are offering investors equity-like returns, according to billionaire Howard Marks.\n• Stocks and bonds are in for a \'painful\' journey ahead- and that makes cash more attractive, according to top economist Mohamed El-Erian.\n• A key corner of Wall Street is making its most bearish bet against stocks ever.\n• Janet Yellen says she supports using frozen Russian assets to help Ukraine.\n• China is boosting its efforts to spread the yuanas it dumps $7.5 billion in offshore bonds.\n• The housing market is in a bubble, but home prices may not fall anytime soon.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 2.27% to $84.02 a barrel.Brent crude, the international benchmark, slipped 1.5% to $86.33 a barrel.\n• Goldinched higher 0.64% to $1,887.30 per ounce.\n• The 10-year Treasury yield slipped eight basis-points to 4.566%.\n• Bitcoinslumped 2.63% to $26,693.\nRead the original article onBusiness Insider', "Bricks (BRICK), the native token of Reddit's Fortnite community, surged 110% over the past 24-hours after having lost over 80% of its value in the past two-months. The majority of trading volume occurred on Kraken with the figure across all exchanges nearing $750,000, a 800% rise from the previous 24-hour period, according to CoinMarketCap . There is currently no clear catalyst for the increase in price, although it has bucked the wider cryptocurrency trend which saw bitcoin (BTC) fall back below $27,000 on Wednesday. Bricks is an ERC-20 token that was distributed to active members of the Fortnite subreddit, it rose significantly in August as hype around other Reddit community tokens like r/cryptocurrency's Moons (MOON) began to build. Liquidity remains relatively thin across all exchanges, with 2% market depth on Kraken equating to around $2,500 on both the bid and ask side. Market depth is a metric that assess the amount of capital required to move an asset in a certain direction. A lack of liquidity in an asset that has experienced significant upside presents a risk to traders as price could cascade back down with minimal effort, potentially trapping those that bought the recent high.", "Bricks (BRICK), the native token of Reddit's Fortnite community, surged 110% over the past 24-hours after having lost over 80% of its value in the past two-months. The majority of trading volume occurred on Kraken with the figure across all exchanges nearing $750,000, a 800% rise from the previous 24-hour period, according to CoinMarketCap . There is currently no clear catalyst for the increase in price, although it has bucked the wider cryptocurrency trend which saw bitcoin (BTC) fall back below $27,000 on Wednesday. Bricks is an ERC-20 token that was distributed to active members of the Fortnite subreddit, it rose significantly in August as hype around other Reddit community tokens like r/cryptocurrency's Moons (MOON) began to build. Liquidity remains relatively thin across all exchanges, with 2% market depth on Kraken equating to around $2,500 on both the bid and ask side. Market depth is a metric that assess the amount of capital required to move an asset in a certain direction. A lack of liquidity in an asset that has experienced significant upside presents a risk to traders as price could cascade back down with minimal effort, potentially trapping those that bought the recent high.", '• Caroline Ellison, one of Sam Bankman-Fried’s top deputies and also his ex-girlfriend, testified Wednesday that she felt relieved when his crypto empire started to collapse because it meant she could stop lying.\n• She noted the CoinDesk scoop that undid the company, saying the crypto news site’s scoop was based on a balance sheet Alameda sent to lenders to mislead them into thinking the trading firm was on more solid financial footing than it really was – though the numbers were ugly enough to spark the collapse.\n• Ellison said Bankman-Fried instructed her to use FTX customer funds to repay Alameda’s lenders despite recognizing the risk.\n• She disclosed an unrelated bribery incident with Chinese officials to retrieve locked funds, highlighting the trust Bankman-Fried had in her.\nNEW YORK — Caroline Ellison wept on the witness stand near the end of her second day testifying against her former boss and ex-boyfriend, fallen cryptocurrency mogulSam Bankman-Fried.\nThe diminutive and soft-spoken former CEO of Alameda Research described the unraveling last November of her hedge fund and its sister company, the FTX exchange, and the “relief” she felt as revelations about their fraud became public.\n“I felt a sense of relief that I didn’t have to lie anymore,” Ellison testified.\nHer voice trembled and cracked as she recalled one particular text message exchange between her and Bankman-Fried during what she described as the “overall worst week of my life."\n"I felt indescribably bad about all the ... people that lost their jobs ... [and the] people that trusted us that we had betrayed," Ellison told the packed courtroom as she reached for a tissue.\nBankman-Fried, the defendant, did not look up as she wept, but kept typing on his court-issued laptop.\nIt was the second day of testimony forEllison, the former Wall Street traderand star witness in the government’s criminal fraud case against Bankman-Fried.\nDuring her testimony, Ellison discussed the document that caused Bankman-Fried’s companies to collapse: the balance sheet CoinDesk’s Ian Allisonreported on exclusivelyon Nov. 2, 2022.\nShe said that balance sheet was a version of the one Alameda sent to its lenders, designed to mislead them into thinking Alameda was healthier financially than it really was. On Wednesday, she called it a “dishonest” document.\nBut even the fudged numbers were ugly enough – brimming with FTX’s FTT token and other tokens closely related to Bankman-Fried – to raise questions about how viable Alameda and FTX were.\n“It understated the true extent of Alameda’s risk, but it still showed that Alameda was in a fairly risky position,” Ellison said of the balance sheet.\nCoinDesk haswon three journalism awardsfor its reporting that set off the chain of events leading to FTX’s collapse.\nBankman-Fried told Caroline Ellison to continue repaying Alameda Research’s lenders with FTX customers’ money, which she did despite misgivings, she testified Wednesday.\nIn May 2022, the Luna crypto token’s decline led to a broader market downturn which caused several of Alameda’s creditors to call back loans that they’d made to the Bankman-Fried–founded trading fund, Ellison testified.\n“I was in a constant state of dread,” she said. “I knew we would have to take the money from our [FTX] line of credit and that was money that could be called in at any time.”\nAsked why that money was particularly risky, Ellison said it “was coming from FTX customers” who could try to withdraw it at any time.\nEllison said she grew increasingly worried throughout the spring of 2022 that Alameda’s reliance on FTX customer funds could lead to catastrophe for both firms.\n“I was concerned that if everyone would find out, then everything would come crashing down,” Ellison said.\nIn spite of her concerns, Ellison testified that she continued to pay back lenders via Alameda’s FTX line of credit – which meant using FTX customer funds – “because Sam told me to.”\n“I thought it was wrong,” she told prosecutors.\nIn the most salacious bit of testimony Wednesday, Ellison said she and a handful of FTX and Alameda executives “paid a large bribe to Chinese officials” to secure funds that had been locked on Chinese exchanges. Neither FTX nor Alameda was involved in the investigation – which Ellison said involved an entity which at one point traded with Alameda, and was being probed for money laundering.\n(Judge Lewis Kaplan, who is overseeing the Bankman-Fried trial, said the bribery anecdote was relayed to the jury to illustrate Bankman-Fried’s “trust and confidence” in Ellison and to speak to “motives” – not because Bankman-Fried was being charged with crimes in relation to alleged bribery. He did not mention that Bankman-Fried is currently scheduled to go on trial again next spring on bribery and other charges.)\nAfter the FTX/Alameda team initially failed to secure the funds through negotiation with the Chinese government via lawyers, Ellison said they then tried – and again failed – to release the funds through a scheme involving the creation of fake exchange accounts using the identities of “Thai prostitutes.”\nEllison said Ryan Salame — another ex-FTX executive who’s pleaded guilty to charges — told her the names.\nFinally, the funds were secured after Ellison made a payment of $100 million to a crypto account which, to her understanding, was tied in some way to Chinese government officials. Ellison recalled an incident when an employee protested against the plan in a meeting: Bankman-Fried grew increasingly annoyed with the employee, whose father was a Chinese government official, and eventually told her to "shut the f*** up."\nIn a private “State of Alameda” memo Ellison authored in November 2021, shortly after the payment was made, she included a bullet point titled “-150m from the thing?” under a section detailing “notable/idiosyncratic” financial events. The entry, she said, referenced the payment to Chinese officials: “I didn’t want to put in writing that we paid what I believed were bribes,” she testified.\nBefore breaking for lunch, prosecutors teased the jury with another memo authored by Ellison – a personal to-do list. It contained the item: “getting regulators to crack down on Binance.”\nBinance is the world’s largest crypto exchange and, in the aftermath of FTX’s November 2022 collapse, U.S. regulators haveaccused it of wrongdoing.\n“Sam said that he thought that was one of the best potential ways for FTX to increase market share,” Ellison said. “Regulators had been promising him this would happen for a while.”\nAlameda had by mid-June 2022 borrowed 77% of the $13 billion of customer U.S. dollar deposits into FTX, according to an internal FTX spreadsheet introduced by prosecutors and authenticated by Ellison. Ellison said she asked FTX executives Gary Wang and Nishad Sing to gather the data for her when she grew concerned about the size of Alameda’s borrowings from FTX.\nBy this point in June, the data showed Alameda had borrowed 52% of all ETH deposits, 44% of USDT deposits and 25% of BTC deposits into FTX – as well as all of the Australian dollar and BRZ deposits into the exchange. (BRZ is an Ethereum token backed by Brazil’s currency, the real.)\nWhen Genesis, a major Alameda lender, asked Ellison if she could provide documentation of Alameda’s financials, Ellison said she and Bankman-Fried worried that providing accurate financials would “show that Alameda was risky,” so the pair devised strategies to improve the look of Alameda’s financial position. (Genesis, now defunct, is a subsidiary of Digital Currency Group, which also owns CoinDesk.)\nAt one point, said Ellison, Bankman-Fried suggested Alameda could “put employees’ personal SRM tokens on its balance sheet” and take other measures to inflate the firm’s assets. SRM is a token on the Solana blockchain that Bankman-Fried had created and distributed, in part, to employees, according to earlier court testimony.\nEllison said that she and Bankman-Fried were still concerned that the new balance sheet they’d assembled would scare Genesis, so she went on to create “seven different, alternative balance sheets” for the pair to consider sending to the lender. Ellison walked through some of the balance sheets in court and detailed the different strategies she used in an attempt to hide Alameda’s risky financials.\nRead more:Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet\n“I didn’t want to be dishonest but was afraid to share the truth,” Ellison testified.\nFTX considered raising capital from Saudi Arabian Prince and Prime Minister Mohammed Bin Salman, Ellison testified.\nAt that time, around June 2022, Alameda Research got into trouble after a broader decline in the crypto market that summer led several of the hedge fund’s biggest lenders to recall their loans to Alameda, Ellison said.\nAccording to text messages the prosecution showed from June 2022, crypto lender Genesis had asked Alameda to pay back $500 million “in $250 million clips.” In addition to that, former crypto lending desk Celsius also asked for its loans to be repaid.\nIt was after Celsius’ request that Sam Bankman-Fried said he was considering selling FTX shares to Bin Salman to raise more money to repay Alameda’s lenders, Ellison said.\nSomeone who answered the phone at the Saudi consulate in the U.S. hung up after a CoinDesk reporter asked about Ellison’s testimony.\nThe former Alameda CEO also recalled how Bankman-Fried had said that lying and stealing money were permissible in his worldview.\n“He didn’t think rules like ‘don’t lie’ [and] ‘don’t steal’ fit in that framework,” she said.\nShe recalled becoming more and more used to doing those things and sending false information to business partners or taking FTX customers’ money.\n“Over time, it was something I became more comfortable with while working there,” she said.\nTo avoid “legal trouble,” Ellison used vague language in an internal FTX document detailing how much Alameda had taken from the now-bankrupt crypto exchange, she testified.\nProsecutors introduced as exhibits spreadsheets created by Ellison detailing Alameda’s financial balances. The documents, according to Ellison, showed that Alameda had taken more than $10 billion from customers of FTX by May 2022.\nAsked why this money was labeled “FTX borrows,” Ellison said she was following orders from Bankman-Fried. “I didn’t want to say explicitly ‘FTX customer money,’” she said on Wednesday.\nBankman-Fried “told us not to put things in writing that might get us in legal trouble.”\nAt one point, prosecuter Danielle Sassoon presented a picture of Bankman-Fried, asking Ellison to describe him. Ellison repled that it appeared he didn’t put much effort into his appearance. “He looked … sloppy,” she said. He “didn’t cut his hair often.”\nAnd there was a reason for that, she recalled. The press and investors frequently took Bankman-Fried’s appearance as a sign that he was a typical Silicon Valley nerd who knew how to code but didn’t care much about fancy designer clothes or cars, which is exactly the image he wanted, Ellison recalled.\n“[Sam] said he had gotten higher bonuses because of his hair,” she said. He had told his colleagues at his companies that his hair "had been very valuable [to his career]," she added.\nIt was also better for FTX’s image, Ellison recalled him telling her, which was also the reason behind the two of them switching their cars from “luxury company vehicles” to much cheaper brands like Toyota and Honda.\nJudge Kaplan dealt a blow to the defense this week when hedeniedmultiple requests from Bankman-Fried’s lawyers to mention his charitable giving and the lack of clear U.S. crypto regulations. That crypto exchanges are not regulated like securities trading venues is “irrelevant” and only likely to confuse the jury, Kaplan said.\nKaplan also ruled that the Bankman-Fried jury would not be able to hear about the likelihood of recoveries from the FTX bankruptcy.\nAfter releasing the jury on Wednesday – just before the court adjourned for the day – Kaplan also sided in favor of a government proposal to bar the defense from mentioningFTX\'s sizable stake in Anthropic, an AI startup whose valuation has surged in recent months. The defense may have hoped to use the investment to show the jury that FTX could have survived if Bankman-Fried\'s investments had been given a bit more time to play out.\nKaplan wasn\'t convinced, however. "This is like saying that if I break into the Federal Reserve Bank, make off with a million bucks, spend it all on Powerball tickets and happen to win, it was okay," the judge said.\nEllisonbegan her testimonyon Tuesday, and opened by saying she committed crimes with Bankman-Fried by sending balance sheets that misstated Alameda’s assets and liabilities to the crypto hedge fund’s lenders and by taking FTX customer funds and using them to repay debts or for investments, to the tune of around $10 billion.\nThings fell apart in November 2022, Ellison said, when asked Tuesday what happened when customers tried to withdraw their funds.\n“Initially FTX was able to process some withdrawals, but pretty soon it started running out of money. Alameda tried to send more money to FTX, but there wasn’t enough to cover all the customer claims,” she said. This was “because Alameda had taken it to make our own investments and to repay our lenders.”\nOver the course of her first day of testimony, Ellison walked the jury through how Bankman-Fried, despite naming her (and for a spell, Sam Trabucco) as CEO of Alameda, still largely retained control over the firm’s decisions, and how he disregarded her advice on issues like whether to expand FTX’s investment portfolio.\nAlameda’s inability to sell large portions of the FTT token came up. Selling the token would have depressed the price enough to dramatically hurt Alameda’s credit with lenders, she said.\n“[Bankman-Fried] gave us a lot of instructions about FTT; at various points he instructed us to buy if there was a large amount of selling or if the price was going down too much,” she said.\nRead all ofCoinDesk’scoverage here.\nJack Schickler contributed reporting to this story.', 'Caroline Ellison, one of Sam Bankman-Fried’s top deputies and also his ex-girlfriend, testified Wednesday that she felt relieved when his crypto empire started to collapse because it meant she could stop lying. She noted the CoinDesk scoop that undid the company, saying the crypto news site’s scoop was based on a balance sheet Alameda sent to lenders to mislead them into thinking the trading firm was on more solid financial footing than it really was – though the numbers were ugly enough to spark the collapse. Ellison said Bankman-Fried instructed her to use FTX customer funds to repay Alameda’s lenders despite recognizing the risk. She disclosed an unrelated bribery incident with Chinese officials to retrieve locked funds, highlighting the trust Bankman-Fried had in her. NEW YORK — Caroline Ellison wept on the witness stand near the end of her second day testifying against her former boss and ex-boyfriend, fallen cryptocurrency mogul Sam Bankman-Fried . The diminutive and soft-spoken former CEO of Alameda Research described the unraveling last November of her hedge fund and its sister company, the FTX exchange, and the “relief” she felt as revelations about their fraud became public. “I felt a sense of relief that I didn’t have to lie anymore,” Ellison testified. Her voice trembled and cracked as she recalled one particular text message exchange between her and Bankman-Fried during what she described as the “overall worst week of my life." "I felt indescribably bad about all the ... people that lost their jobs ... [and the] people that trusted us that we had betrayed," Ellison told the packed courtroom as she reached for a tissue. Bankman-Fried, the defendant, did not look up as she wept, but kept typing on his court-issued laptop. It was the second day of testimony for Ellison, the former Wall Street trader and star witness in the government’s criminal fraud case against Bankman-Fried. The smoking gun During her testimony, Ellison discussed the document that caused Bankman-Fried’s companies to collapse: the balance sheet CoinDesk’s Ian Allison reported on exclusively on Nov. 2, 2022. She said that balance sheet was a version of the one Alameda sent to its lenders, designed to mislead them into thinking Alameda was healthier financially than it really was. On Wednesday, she called it a “dishonest” document. But even the fudged numbers were ugly enough – brimming with FTX’s FTT token and other tokens closely related to Bankman-Fried – to raise questions about how viable Alameda and FTX were. “It understated the true extent of Alameda’s risk, but it still showed that Alameda was in a fairly risky position,” Ellison said of the balance sheet. Story continues CoinDesk has won three journalism awards for its reporting that set off the chain of events leading to FTX’s collapse. ‘Sam told me to’ Bankman-Fried told Caroline Ellison to continue repaying Alameda Research’s lenders with FTX customers’ money, which she did despite misgivings, she testified Wednesday. In May 2022, the Luna crypto token’s decline led to a broader market downturn which caused several of Alameda’s creditors to call back loans that they’d made to the Bankman-Fried–founded trading fund, Ellison testified. “I was in a constant state of dread,” she said. “I knew we would have to take the money from our [FTX] line of credit and that was money that could be called in at any time.” Asked why that money was particularly risky, Ellison said it “was coming from FTX customers” who could try to withdraw it at any time. Ellison said she grew increasingly worried throughout the spring of 2022 that Alameda’s reliance on FTX customer funds could lead to catastrophe for both firms. “I was concerned that if everyone would find out, then everything would come crashing down,” Ellison said. In spite of her concerns, Ellison testified that she continued to pay back lenders via Alameda’s FTX line of credit – which meant using FTX customer funds – “because Sam told me to.” “I thought it was wrong,” she told prosecutors. Bribing Chinese officials In the most salacious bit of testimony Wednesday, Ellison said she and a handful of FTX and Alameda executives “paid a large bribe to Chinese officials” to secure funds that had been locked on Chinese exchanges. Neither FTX nor Alameda was involved in the investigation – which Ellison said involved an entity which at one point traded with Alameda, and was being probed for money laundering. (Judge Lewis Kaplan, who is overseeing the Bankman-Fried trial, said the bribery anecdote was relayed to the jury to illustrate Bankman-Fried’s “trust and confidence” in Ellison and to speak to “motives” – not because Bankman-Fried was being charged with crimes in relation to alleged bribery. He did not mention that Bankman-Fried is currently scheduled to go on trial again next spring on bribery and other charges.) After the FTX/Alameda team initially failed to secure the funds through negotiation with the Chinese government via lawyers, Ellison said they then tried – and again failed – to release the funds through a scheme involving the creation of fake exchange accounts using the identities of “Thai prostitutes.” Ellison said Ryan Salame — another ex-FTX executive who’s pleaded guilty to charges — told her the names. Finally, the funds were secured after Ellison made a payment of $100 million to a crypto account which, to her understanding, was tied in some way to Chinese government officials. Ellison recalled an incident when an employee protested against the plan in a meeting: Bankman-Fried grew increasingly annoyed with the employee, whose father was a Chinese government official, and eventually told her to "shut the f*** up." In a private “State of Alameda” memo Ellison authored in November 2021, shortly after the payment was made, she included a bullet point titled “-150m from the thing?” under a section detailing “notable/idiosyncratic” financial events. The entry, she said, referenced the payment to Chinese officials: “I didn’t want to put in writing that we paid what I believed were bribes,” she testified. Before breaking for lunch, prosecutors teased the jury with another memo authored by Ellison – a personal to-do list. It contained the item: “getting regulators to crack down on Binance.” Binance is the world’s largest crypto exchange and, in the aftermath of FTX’s November 2022 collapse, U.S. regulators have accused it of wrongdoing . “Sam said that he thought that was one of the best potential ways for FTX to increase market share,” Ellison said. “Regulators had been promising him this would happen for a while.” Duping Genesis Alameda had by mid-June 2022 borrowed 77% of the $13 billion of customer U.S. dollar deposits into FTX, according to an internal FTX spreadsheet introduced by prosecutors and authenticated by Ellison. Ellison said she asked FTX executives Gary Wang and Nishad Sing to gather the data for her when she grew concerned about the size of Alameda’s borrowings from FTX. By this point in June, the data showed Alameda had borrowed 52% of all ETH deposits, 44% of USDT deposits and 25% of BTC deposits into FTX – as well as all of the Australian dollar and BRZ deposits into the exchange. (BRZ is an Ethereum token backed by Brazil’s currency, the real.) When Genesis, a major Alameda lender, asked Ellison if she could provide documentation of Alameda’s financials, Ellison said she and Bankman-Fried worried that providing accurate financials would “show that Alameda was risky,” so the pair devised strategies to improve the look of Alameda’s financial position. (Genesis, now defunct, is a subsidiary of Digital Currency Group, which also owns CoinDesk.) At one point, said Ellison, Bankman-Fried suggested Alameda could “put employees’ personal SRM tokens on its balance sheet” and take other measures to inflate the firm’s assets. SRM is a token on the Solana blockchain that Bankman-Fried had created and distributed, in part, to employees, according to earlier court testimony. Ellison said that she and Bankman-Fried were still concerned that the new balance sheet they’d assembled would scare Genesis, so she went on to create “seven different, alternative balance sheets” for the pair to consider sending to the lender. Ellison walked through some of the balance sheets in court and detailed the different strategies she used in an attempt to hide Alameda’s risky financials. Read more: Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet “I didn’t want to be dishonest but was afraid to share the truth,” Ellison testified. A princely sum FTX considered raising capital from Saudi Arabian Prince and Prime Minister Mohammed Bin Salman, Ellison testified. At that time, around June 2022, Alameda Research got into trouble after a broader decline in the crypto market that summer led several of the hedge fund’s biggest lenders to recall their loans to Alameda, Ellison said. According to text messages the prosecution showed from June 2022, crypto lender Genesis had asked Alameda to pay back $500 million “in $250 million clips.” In addition to that, former crypto lending desk Celsius also asked for its loans to be repaid. It was after Celsius’ request that Sam Bankman-Fried said he was considering selling FTX shares to Bin Salman to raise more money to repay Alameda’s lenders, Ellison said. Someone who answered the phone at the Saudi consulate in the U.S. hung up after a CoinDesk reporter asked about Ellison’s testimony. Moral ‘framework’ The former Alameda CEO also recalled how Bankman-Fried had said that lying and stealing money were permissible in his worldview. “He didn’t think rules like ‘don’t lie’ [and] ‘don’t steal’ fit in that framework,” she said. She recalled becoming more and more used to doing those things and sending false information to business partners or taking FTX customers’ money. “Over time, it was something I became more comfortable with while working there,” she said. Vague labeling To avoid “legal trouble,” Ellison used vague language in an internal FTX document detailing how much Alameda had taken from the now-bankrupt crypto exchange, she testified. Prosecutors introduced as exhibits spreadsheets created by Ellison detailing Alameda’s financial balances. The documents, according to Ellison, showed that Alameda had taken more than $10 billion from customers of FTX by May 2022. Asked why this money was labeled “FTX borrows,” Ellison said she was following orders from Bankman-Fried. “I didn’t want to say explicitly ‘FTX customer money,’” she said on Wednesday. Bankman-Fried “told us not to put things in writing that might get us in legal trouble.” Amateur sketch of screens in the overflow room at the U.S. Southern District Court on Oct. 11, 2023. From left: Exhibits; Sam Bankman-Fried with lawyers; Caroline Ellison on the witness stand. (Nik De/CoinDesk) SBF’s valuable (lack of a) haircut At one point, prosecuter Danielle Sassoon presented a picture of Bankman-Fried, asking Ellison to describe him. Ellison repled that it appeared he didn’t put much effort into his appearance. “He looked … sloppy,” she said. He “didn’t cut his hair often.” And there was a reason for that, she recalled. The press and investors frequently took Bankman-Fried’s appearance as a sign that he was a typical Silicon Valley nerd who knew how to code but didn’t care much about fancy designer clothes or cars, which is exactly the image he wanted, Ellison recalled. “[Sam] said he had gotten higher bonuses because of his hair,” she said. He had told his colleagues at his companies that his hair "had been very valuable [to his career]," she added. It was also better for FTX’s image, Ellison recalled him telling her, which was also the reason behind the two of them switching their cars from “luxury company vehicles” to much cheaper brands like Toyota and Honda. Blow to defense Judge Kaplan dealt a blow to the defense this week when he denied multiple requests from Bankman-Fried’s lawyers to mention his charitable giving and the lack of clear U.S. crypto regulations. That crypto exchanges are not regulated like securities trading venues is “irrelevant” and only likely to confuse the jury, Kaplan said. Kaplan also ruled that the Bankman-Fried jury would not be able to hear about the likelihood of recoveries from the FTX bankruptcy. After releasing the jury on Wednesday – just before the court adjourned for the day – Kaplan also sided in favor of a government proposal to bar the defense from mentioning FTX\'s sizable stake in Anthropic , an AI startup whose valuation has surged in recent months. The defense may have hoped to use the investment to show the jury that FTX could have survived if Bankman-Fried\'s investments had been given a bit more time to play out. Kaplan wasn\'t convinced, however. "This is like saying that if I break into the Federal Reserve Bank, make off with a million bucks, spend it all on Powerball tickets and happen to win, it was okay," the judge said. Judge Kaplan: I won\'t be ruling on whether the Anthropic investment value comes in until after the direct... Jury entering! AUSA Sassoon: Good morning Ms. Ellison... We\'ll pick up. What happened with Alameda\'s trading positions? Ellison: Coin values went down. — Inner City Press (@innercitypress) October 11, 2023 Day one recap Ellison began her testimony on Tuesday, and opened by saying she committed crimes with Bankman-Fried by sending balance sheets that misstated Alameda’s assets and liabilities to the crypto hedge fund’s lenders and by taking FTX customer funds and using them to repay debts or for investments, to the tune of around $10 billion. Things fell apart in November 2022, Ellison said, when asked Tuesday what happened when customers tried to withdraw their funds. “Initially FTX was able to process some withdrawals, but pretty soon it started running out of money. Alameda tried to send more money to FTX, but there wasn’t enough to cover all the customer claims,” she said. This was “because Alameda had taken it to make our own investments and to repay our lenders.” Over the course of her first day of testimony, Ellison walked the jury through how Bankman-Fried, despite naming her (and for a spell, Sam Trabucco) as CEO of Alameda, still largely retained control over the firm’s decisions, and how he disregarded her advice on issues like whether to expand FTX’s investment portfolio. Alameda’s inability to sell large portions of the FTT token came up. Selling the token would have depressed the price enough to dramatically hurt Alameda’s credit with lenders, she said. “[Bankman-Fried] gave us a lot of instructions about FTT; at various points he instructed us to buy if there was a large amount of selling or if the price was going down too much,” she said. Read all of CoinDesk’s coverage here . Jack Schickler contributed reporting to this story. View comments', 'Bitcoin slipped just under 1% in the past 24 hours as bearish calls among analysts including Jim Cramer, a former hedge fund manager and host of CNBC’s Mad Money, grew. Overall market capitalization lost 0.3%.\nEther (ETH) showed signs of stability around $1,500 with a 0.5% gain after a nearly weeklong slide. The token started to drop Monday after the influential Ethereum Foundation sold $2.7 million worth of ETH for stablecoins.\nXRP and BNB Chain’s bnb tokens fell 0.4%, while Solana’s SOL dropped 1.4%. The only gainer among large-cap tokens was Chainlink’s LINK, which added 2.2% as one research firm noted it waslikely the “safest bet”to profit from the emerging real-world asset (RWA) tokenization trend.\nTheCoinDesk Market Index (CMI), a broad-based indicator made up of hundreds of tokens, fell 0.4% to suggest overall losses among investor holdings.\nCramerjoined an increasing cohortof bearish analysts Tuesday, suggesting bitcoin could “go down big.”\nEarlier this week,several traders told CoinDeskthat they expected risky assets, such as bitcoin and technology stocks, to fall further as the conflict between Hamas and Israel worsened – prompting fears of global instability and a flight to safe assets.', 'Bitcoin slipped just under 1% in the past 24 hours as bearish calls among analysts including Jim Cramer, a former hedge fund manager and host of CNBC’s Mad Money, grew. Overall market capitalization lost 0.3%. Ether (ETH) showed signs of stability around $1,500 with a 0.5% gain after a nearly weeklong slide. The token started to drop Monday after the influential Ethereum Foundation sold $2.7 million worth of ETH for stablecoins. XRP and BNB Chain’s bnb tokens fell 0.4%, while Solana’s SOL dropped 1.4%. The only gainer among large-cap tokens was Chainlink’s LINK, which added 2.2% as one research firm noted it was likely the “safest bet” to profit from the emerging real-world asset (RWA) tokenization trend. The CoinDesk Market Index (CMI) , a broad-based indicator made up of hundreds of tokens, fell 0.4% to suggest overall losses among investor holdings. Cramer joined an increasing cohort of bearish analysts Tuesday, suggesting bitcoin could “go down big.” Earlier this week, several traders told CoinDesk that they expected risky assets, such as bitcoin and technology stocks, to fall further as the conflict between Hamas and Israel worsened – prompting fears of global instability and a flight to safe assets.', 'Bitcoin slipped just under 1% in the past 24 hours as bearish calls among analysts including Jim Cramer, a former hedge fund manager and host of CNBC’s Mad Money, grew. Overall market capitalization lost 0.3%.\nEther (ETH) showed signs of stability around $1,500 with a 0.5% gain after a nearly weeklong slide. The token started to drop Monday after the influential Ethereum Foundation sold $2.7 million worth of ETH for stablecoins.\nXRP and BNB Chain’s bnb tokens fell 0.4%, while Solana’s SOL dropped 1.4%. The only gainer among large-cap tokens was Chainlink’s LINK, which added 2.2% as one research firm noted it waslikely the “safest bet”to profit from the emerging real-world asset (RWA) tokenization trend.\nTheCoinDesk Market Index (CMI), a broad-based indicator made up of hundreds of tokens, fell 0.4% to suggest overall losses among investor holdings.\nCramerjoined an increasing cohortof bearish analysts Tuesday, suggesting bitcoin could “go down big.”\nEarlier this week,several traders told CoinDeskthat they expected risky assets, such as bitcoin and technology stocks, to fall further as the conflict between Hamas and Israel worsened – prompting fears of global instability and a flight to safe assets.', '• The Fed officials lean in favor of a pause in the rate hike cycle, strengthening hopes that the tightening cycle has ended.\n• A similar Fed backdrop in early 2019 saw bitcoin quadruple to $13,880.\nThey say history doesn\'t always repeat itself, but in financial markets it often rhymes.\nThe recent dovish rumblings by U.S. Federal Reserve (Fed) officials have revived memories from early 2019 when bitcoin (BTC) surged over 300% against a similar Fed backdrop.\nSinceearly 2022, the Fed has raised interest rates by 525 basis points to tame inflation. The so-called liquidity tightening cycle has been one of the major sources of pain for risk assets, including bitcoin.\nThis week, the Fed policymakers have offered a dovish respite. On Tuesday, Atlanta Fed Bank PresidentRaphael Bosticand Minneapolis Fed PresidentNeel Kashkarisaid the central bank may not need to raise rates further. Dallas Fed President Lorie Logan and Fed Governor Christopher Waller argued that rising Treasury yields have done the Fed\'s job, preventing any urgent need for another rate hike, according to Reuters.\nThese comments have strengthened the belief in the market that the central bank\'s dreadedtightening cycle endedwith July\'s 25 basis point rate and that the bank will now wait to see how the macroeconomic situation unfolds in the coming months.\nThe Fed\'s previous rate cycle, which ran for three years, saw rates peak at 2.5% in December 2018, following which the central bank adopted a wait-and-watch mode for seven months. Bitcoin bottomed out in December 2018 and rose to $13,880 by the end of June 2019.\nAnother interesting parallel is that the latest pause in the Fed tightening cycle comes several months ahead of the supposedly-bullish Bitcoin blockchain\'smining reward halving, just as it did four years ago.\n"Reflecting back on 2019, the Fed concluded its rate-hiking cycle and entered a seven-month pause. During this period, Bitcoin experienced a dramatic price rally, surging by an impressive 325%," Markus Thielen, head of research and strategy, said in a note to clients last week. "In line with our outlook, it’s highly likely that the Fed concluded its rate-hiking cycle in July 2023."\n"At present, the most critical macroeconomic factor appears to be a reflection of the situation in 2019 when the Fed paused its rake hikes, leading to a significant surge in bitcoin prices," Thielen added.\nIn other words, assuming all else is equal, past data favors an upside in bitcoin. The leading cryptocurrency by market value changed hands at $26,800 at press time, representing a 62% year-to-date gain, according to CoinDesk data.\nWhile the 2019 playbook favours upside in bitcoin, an eventual Fed pivot to rate cuts might initially lead to price weakness.\nPer Thielen, traders should closely follow the rationale behind potential Fed rate cuts. Rate cuts implemented to counter economic weakness and low inflation might have bearish implications, Thielen noted.', '• The Fed officials lean in favor of a pause in the rate hike cycle, strengthening hopes that the tightening cycle has ended.\n• A similar Fed backdrop in early 2019 saw bitcoin quadruple to $13,880.\nThey say history doesn\'t always repeat itself, but in financial markets it often rhymes.\nThe recent dovish rumblings by U.S. Federal Reserve (Fed) officials have revived memories from early 2019 when bitcoin (BTC) surged over 300% against a similar Fed backdrop.\nSinceearly 2022, the Fed has raised interest rates by 525 basis points to tame inflation. The so-called liquidity tightening cycle has been one of the major sources of pain for risk assets, including bitcoin.\nThis week, the Fed policymakers have offered a dovish respite. On Tuesday, Atlanta Fed Bank PresidentRaphael Bosticand Minneapolis Fed PresidentNeel Kashkarisaid the central bank may not need to raise rates further. Dallas Fed President Lorie Logan and Fed Governor Christopher Waller argued that rising Treasury yields have done the Fed\'s job, preventing any urgent need for another rate hike, according to Reuters.\nThese comments have strengthened the belief in the market that the central bank\'s dreadedtightening cycle endedwith July\'s 25 basis point rate and that the bank will now wait to see how the macroeconomic situation unfolds in the coming months.\nThe Fed\'s previous rate cycle, which ran for three years, saw rates peak at 2.5% in December 2018, following which the central bank adopted a wait-and-watch mode for seven months. Bitcoin bottomed out in December 2018 and rose to $13,880 by the end of June 2019.\nAnother interesting parallel is that the latest pause in the Fed tightening cycle comes several months ahead of the supposedly-bullish Bitcoin blockchain\'smining reward halving, just as it did four years ago.\n"Reflecting back on 2019, the Fed concluded its rate-hiking cycle and entered a seven-month pause. During this period, Bitcoin experienced a dramatic price rally, surging by an impressive 325%," Markus Thielen, head of research and strategy, said in a note to clients last week. "In line with our outlook, it’s highly likely that the Fed concluded its rate-hiking cycle in July 2023."\n"At present, the most critical macroeconomic factor appears to be a reflection of the situation in 2019 when the Fed paused its rake hikes, leading to a significant surge in bitcoin prices," Thielen added.\nIn other words, assuming all else is equal, past data favors an upside in bitcoin. The leading cryptocurrency by market value changed hands at $26,800 at press time, representing a 62% year-to-date gain, according to CoinDesk data.\nWhile the 2019 playbook favours upside in bitcoin, an eventual Fed pivot to rate cuts might initially lead to price weakness.\nPer Thielen, traders should closely follow the rationale behind potential Fed rate cuts. Rate cuts implemented to counter economic weakness and low inflation might have bearish implications, Thielen noted.', 'The Fed officials lean in favor of a pause in the rate hike cycle, strengthening hopes that the tightening cycle has ended. A similar Fed backdrop in early 2019 saw bitcoin quadruple to $13,880. They say history doesn\'t always repeat itself, but in financial markets it often rhymes. The recent dovish rumblings by U.S. Federal Reserve (Fed) officials have revived memories from early 2019 when bitcoin (BTC) surged over 300% against a similar Fed backdrop. Since early 2022 , the Fed has raised interest rates by 525 basis points to tame inflation. The so-called liquidity tightening cycle has been one of the major sources of pain for risk assets, including bitcoin. This week, the Fed policymakers have offered a dovish respite. On
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-12
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $522,859,295,238
- Hash Rate: 470162158.8928191
- Transaction Count: 267090.0
- Unique Addresses: 624747.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.45
**Other Textual Data:**
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- Contextual Past News Article: UPDATE: A Spanish court has ruled that tech titan John McAfee died by suicide, an inquest prompted by his familys questions on his jailhouse death. McAfee died in 2021 in a Spanish jail, and his death has already been ruled a suicide by authorities. But ex-ife Janice asked for a further probe. McAfee himself had previously stated that he was not suicidal and that he would be whacked if he died. More from Deadline Netflix Greenlights Documentary On Software Pioneer John McAfee, Who Went On The Run After His Neighbor Was Murdered In Belize John McAfee Dies: Eccentric Entrepreneur, Security Software Inventor And Cryptocurrency Pioneer Was 75 Bitcoin Arrives On Wall Street, Bringing Good News For Blockchain Entertainment The ruling today stated, There is not a single element of suspicion, of a charge against a third party, of criminal behavior, according to Reuters. EARLIER: The family of software pioneer John McAfee has stepped up their demand for answers a year after his mysterious death in a Spanish jail cell . McAfees corpse still remains unclaimed in a Spanish morgue. He was awaiting extradition to the US on tax evasion charges when he was found dead in a Barcelona cell. He was 75 years old. The software developer of the first commercial anti-virus software, McAfee had a strange last few years, globetrotting and immersed in the cryptocurrency and conspiracy worlds. Its difficult to put into words what life has been like this past year, McAfees widow, Janice, tweeted Thursday . McAfee was arrested in Spain and was jailed for eight months prior to his death, which authorities claimed was a suicide. His family disagreed and is pressing for a more detailed investigation. His body is being held while legal deliberations continue. A former third-party candidate for US president in 2016 and 2020, McAfee at one time had a fortune estimated at $100 million. While much of that was lost in the market crash of 2008, he still lived a lavish lifestyle from his base on the Belize island of Ambergris Caye. Story continues There, Belize police declared him a person of interest in the killing of American Gregory Faull, 52, who had complained about McAfees dogs before being discovered in his home with fatal gunshot wounds. McAfee was never charged in that case, but Belize authorities said they were actively looking for him. He lost a wrongful death suit in Florida brought by Faulls family. They won an award of $25 million, but never collected. Best of Deadline SAG-AFTRA Interim Agreements: Full List Of Movies And TV Series 2023 Premiere Dates For New & Returning Series On Broadcast, Cable & Streaming Film Festival Calendar Listings For 2023 Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . Click here to read the full article....
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['San Diego, CA, Oct. 12, 2023 (GLOBE NEWSWIRE) -- A 100-page report issued by the World Economic Forum estimates the tokenization market to be worth $867 trillion with an expected 80x growth rate by 2030.\nA 100-page report issued by the World Economic Forum estimates the tokenization market to be worth $867 trillion with an expected 80x growth rate by 2030.\nRecent indicators seem to be pointing to the beginning stages of a recovery in the crypto market, largely due to the filing of a Spot Bitcoin ETF by the bluest of all the blue chips – BlackRock.\nBlackRock CEO Larry Fink was recently quoted as saying that tokenization will be “the next generation for markets.”\nTokenization, for those new to the term, is a process that converts real-world assets, such as stocks, bonds, art, luxury watches, real estate, or just about anything that holds intrinsic real-world value into digital tokens.\nThese tokens, traded on blockchain networks, represent ownership or rights to the underlying assets. They can be transferred and traded in a secure and transparent manner, much like passing a baton in a relay race, but in the digital realm.\nThe potential of tokenization to disrupt traditional finance is massive, a tectonic movement that could revolutionize the financial industry.\nTo get some deep insight on the current state of affairs we caught up with Thomas Carter, veteran entrepreneur and thought leader in the area of tokenization and digital securities.\nFrompredicting crypto’s $1T crypto market capto being one of the earliest pioneers of security tokens, Carter has been pushing innovation in this space for over seven years.\nAs the Founder ofDeal Box, a blockchain and AI powered security token issuance and investment platform, and the CEO of True I/O (recently raised $9M) Carter has been instrumental in guiding the development of asset tokenization. His expertise and vision in these areas have made him a sought after mentor.\nAlong with creating one of the first security token issuance and investment platforms (Deal Box), Carter’s contributions to the tokenization ecosystem include creating user-friendly fintech solutions that enable broader adoption.\nFor example, as founder of TNS (recently merged into True I/O) he developed a domain naming service that simplifies the complex process of blockchain transactions by creating user-friendly IDs in place of lengthy blockchain addresses calledDigital Names.\nHis acumen extends beyond tokenization and includes the field of cybersecurity and supply chain management as the driving force behindTrue I/O.\nTrue I/O is an ecosystem of blockchain/AI/VR enabled solutions that enhance password security, secure sensitive data, and fortify cybersecurity infrastructure as well as supply chain security for mobile or embedded devices – that is, IoT (Internet of Things).\nOne of True I/O’s flagship products is theUniversal Communications Identifier (UCID™), a cross-network security solution for any device connected to any network.\nTrue I/O and Deal Box recently partnered with Fireblocks, a platform that secures digital assets. Fireblocks provides a secure infrastructure for moving, storing, and issuing digital assets, enabling businesses to securely scale their digital asset operations.\nRecently, Carter has expanded his expertise in digital securities to include tokenization of Real World Assets (RWAs). RWAs refer to tangible assets that exist in the physical world, such as real estate, precious metals, commodities, artwork, private equity, etc.\nThese assets have inherent value and can be tokenized using blockchain technology, which involves representing ownership rights as digital tokens on a distributed ledger.\nThe tokenization of RWAs presents a generational opportunity in the finance industry. By tokenizing real-world assets, individuals and institutions can gain fractional ownership and access to these assets, which were previously limited to a select few.\nTokenization enables the democratization of asset ownership, allowing smaller investors to participate in traditionally exclusive markets, enhanced secondary market liquidity and cross-border transactions.\nIn a recent interview Carter had this to say about the BlackRock ETF and Fink’s remarks on tokenization –\n“I’ve always felt that tokenization was the bigger story here, not cryptocurrencies, albeit an important part of the crypto ecosystem. After 20 years in traditional finance I realized early on that the genie in the crypto bottle was the transparency, universal access, and reduced frictional costs made immutable by cryptography.\nBy bringing traditional assets and financial products on-chain we are unlocking trillions worth of liquidity that is expected to be anywhere from 10-40% of global GDP by 2030. Those are staggering numbers.\nI think the timing of the BlackRock ETF is brilliant in that it coincides with a Bitcoin halving event which is a deflationary algorithm programmed into Bitcoin that reduces the available supply and the GWTH (Greatest Wealth Transfer in History). The Boomers are transferring that wealth to a generation that grew up with blockchain tech.\nNot only does the ETF cash in on the $30+ trillion dollar retirement market but it also sets itself up to be a likely preferred investment vehicle for the incoming generation.\nDespite the fact that scores of previous Bitcoin ETFs have been rejected by the SEC, I think given the size and gravity of BlackRock, that they wouldn’t place the bet unless they had good reason to expect a win.\nThat win I believe is and will be the catalyst for the next bull market in crypto which if I had to speculate will take us somewhere into the vicinity of a 10 trillion dollar crypto market cap before 2025. The crypto market has been waiting for an incremental buying trend and this is it.\n“Now is the time to act.”\nOne area of tokenization in particular deserves particular attention. The tokenization of private equity, Carter’s forte, and the core offering ofDeal Box.\nTokenization of Private Equity\nPrivate equity tokens are a digital representation of ownership in private equity investments on the blockchain.\nThese tokens enable fractional ownership, improved liquidity and simplified management of private equity assets.\nA recent study found fund managers in France, Spain, Germany, Switzerland and the United Kingdom, collectively responsible for around $546.5 billion in assets under management, found that 73% of the participants identified private equity assets as the most likely first to see significant tokenization.\nMoreover, the World Economic Forum hasestimatedthat up to 10% of global GDP could be stored and transacted via distributed ledger technology by 2027, with crypto-asset custodian Finoa reporting that tokenized markets may beworthas much as $24 trillion by the same year.\nThe Benefits of Private Equity Tokenization\nPrivate equity tokens shine in their promise of heightened liquidity. Historically, private equity investments have been hamstrung by extended lock-up times and scarce exit strategies, deterring certain investors. Tokenization, however, transforms these assets, facilitating their trade on secondary markets, and presenting a more fluid investment option. This revamped liquidity simplifies the process for investors to buy and sell, and unveils the worth of previously hard-to-move assets, appealing to a more diverse investor base.\nMoreover, private equity tokens usher in an era of transparency in a traditionally guarded sector. Rooted in blockchain technology, these tokens enable public monitoring of both ownership and transaction history. This immediate and open view into assets can elevate trust and diminish risks linked to deceit and poor oversight.\nLastly, these tokens revolutionize accessibility to the private equity realm. They lower the entry barrier for everyday investors by offering pieces of ownership in private entities or funds. This fractional ownership invites modest-scale investments, widening the door for more people to invest in and benefit from private sector growth. Such inclusivity not only enriches investment portfolios but also spurs innovation and economic expansion by channeling more funds into the private domain.\nTo learn more about how the process of private equity tokenization works visitDeal Box.\nAbout Thomas Carter\nThomas Carteris a leader and evangelist for enterprise-grade FinTech and blockchain technology adoption.\nHe was an early pioneer of Security Token technology and brings 30 + years of proven traditional capital markets acumen to the nascent field of tokenization.\nHe is the founder and Chairman of Deal Box, a capital markets consulting firm focused on helping entrepreneurs and investors by leveraging automation, artificial intelligence, and blockchain technologies.\nCarter is also the CEO of True I/O whose mission is to help traditional financial and capital services realize the promise of transparency, universal access and reduced costs that blockchain tech offers.\nThomas can be reached via:\nThomascarter.io\nTrue.io\nLinkedInhttp://trueio.io\nCONTACT: Thomas Carter thomas-at-tnscorp.io', "• US stocks fell Thursday as bond yields resumed their upswing amid new inflation data.\n• September's CPI came in hotter than estimated, climbing 0.4% for the month.\n• The latest 30-year Treasury auction also saw weak demand, further boosting yields.\nUS stocks fell Thursday as the latest round of inflation data and a weak bond auction sent Treasury yields back up sharply.\nTheconsumer price indexgained 0.4% in September from the prior month, above expectations for a 0.3% increase. Similarly, it rose 3.7% from a year ago, outpacing estimates of a 3.6% rise.\nMeanwhile, the US sold $20 billion of 30-year bonds, butdealers had to take up more supply after investors balked, signaling weak demand amid soaring debt issuance.\nThe 10-year yield climbed over 10 basis points to about 4.7%, while the 30-year yield shot up as much as 18 basis points at one point after the lackluster auction.\nHere's where US indexes stood at the 4:00 p.m. closing bell on Thursday:\n• S&P 500: 4,349.61, down 0.62%\n• Dow Jones Industrial Average: 33,631.14, down 0.51% (173.73 points)\n• Nasdaq Composite: 13,574.22, down 0.63%\nHere's what else is going on today:\n• Chinese domestic investors arenot allowed to open overseas brokerage accounts, in a new ban from Beijing.\n• Oil's sharp rise to nearly$100 a barrel has led to demand destruction, the International Energy Agency reported.\n• To rein in the US deficit,it's time to hike taxes or cut social programs, Paul Krugman said.\n• Nouriel Roubini warnedmarkets have not yet priced in a massive Middle Eastern conflict.\n• The Fed has shed$1 trillion off of its balance sheetsince starting its quantitative tightening campaign.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 1.9% to $83.4 a barrel.Brent crude, the international benchmark, slid 1.3% to $87.3 a barrel.\n• Golddeclined 0.4% to $1,869 per ounce.\n• The 10-year Treasury yield gained 10 basis points to 4.7%.\n• Bitcoinfell 0.59% to $26,680.\nRead the original article onBusiness Insider", "Traders work the floors at the New York Stock Exchange (NYSE) in New York on October 11, 2023. Angela Weiss/AFP via Getty Image US stocks fell Thursday as bond yields resumed their upswing amid new inflation data. September's CPI came in hotter than estimated, climbing 0.4% for the month. The latest 30-year Treasury auction also saw weak demand, further boosting yields. US stocks fell Thursday as the latest round of inflation data and a weak bond auction sent Treasury yields back up sharply. The consumer price index gained 0.4% in September from the prior month, above expectations for a 0.3% increase. Similarly, it rose 3.7% from a year ago, outpacing estimates of a 3.6% rise. Meanwhile, the US sold $20 billion of 30-year bonds, but dealers had to take up more supply after investors balked , signaling weak demand amid soaring debt issuance. The 10-year yield climbed over 10 basis points to about 4.7%, while the 30-year yield shot up as much as 18 basis points at one point after the lackluster auction. Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday: S&P 500 : 4,349.61, down 0.62% Dow Jones Industrial Average : 33,631.14, down 0.51% (173.73 points) Nasdaq Composite : 13,574.22, down 0.63% Here's what else is going on today: Chinese domestic investors are not allowed to open overseas brokerage accounts , in a new ban from Beijing. Oil's sharp rise to nearly $100 a barrel has led to demand destruction , the International Energy Agency reported. To rein in the US deficit, it's time to hike taxes or cut social programs , Paul Krugman said. Nouriel Roubini warned markets have not yet priced in a massive Middle Eastern conflict . The Fed has shed $1 trillion off of its balance sheet since starting its quantitative tightening campaign. In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 1.9% to $83.4 a barrel. Brent crude , the international benchmark, slid 1.3% to $87.3 a barrel. Gold declined 0.4% to $1,869 per ounce. The 10-year Treasury yield gained 10 basis points to 4.7%. Bitcoin fell 0.59% to $26,680. Read the original article on Business Insider", "Denver, Colorado - ( NewMediaWire ) - October 13, 2023 - ( King NewsWire ) - BYTESWAP, a blockchain service provider, has unveiled cutting-edge blockchain infrastructure and innovative functions. With its latest update, the company has offered comprehensive one-stop blockchain services while significantly advancing global blockchain technology. BYTESWAP has introduced a new feature in the form of an AlphaGo arbitrage function, designed to automatically identify trading volume, activity, and price differences across major global trading platforms. This innovation allows BYTESWAP to distribute financial gain from the AlphaGo arbitrage system directly to users' deposit accounts, making blockchain trading more accessible. With the new development, users can simply deposit their coins into the BYTESWAP wealth management platform and activate the AlphaGo automatic quantitative trading function. This hands-off approach allows users to trade automatically. BYTESWAP comprehensively covers data in the current blockchain field. It supports the single currency BYTESWAP and mainstream currencies such as USDT, ETH, BTC, FIL, BNB, SHIB, DOGE, AXS, and more. The journey of BYTESWAP began in late 2019 when it assembled a technical team dedicated to pushing the boundaries of blockchain technology. Over four years, the company has achieved technological milestones and engaged in exploration to refine its services. Looking ahead, BYTESWAP has ambitious plans. The company is targeting June 2025 for an Initial Public Offering (IPO), setting its sights on becoming a publicly traded entity. This move underscores BYTESWAP's commitment to long-term growth and innovation in the blockchain industry. For more information about BYTESWAP and its services, please visit their website . About BYTESWAP: BYTESWAP is dedicated to driving global cryptocurrency adoption and making cryptocurrency a seamless part of people's daily lives. As a blockchain service provider, BYTESWAP offers a wide range of blockchain services and actively contributes to blockchain technology's development through its technological prowess and operational expertise. Story continues Media Contact Organization: ByteSwap Ltd. Contact Person: Alexander Mitchell Website: https://bytescoin.com Email: [email protected] City: Denver State: Colorado Country: United States", "Denver, Colorado - ( NewMediaWire ) - October 13, 2023 - ( King NewsWire ) - BYTESWAP, a blockchain service provider, has unveiled cutting-edge blockchain infrastructure and innovative functions. With its latest update, the company has offered comprehensive one-stop blockchain services while significantly advancing global blockchain technology. BYTESWAP has introduced a new feature in the form of an AlphaGo arbitrage function, designed to automatically identify trading volume, activity, and price differences across major global trading platforms. This innovation allows BYTESWAP to distribute financial gain from the AlphaGo arbitrage system directly to users' deposit accounts, making blockchain trading more accessible. With the new development, users can simply deposit their coins into the BYTESWAP wealth management platform and activate the AlphaGo automatic quantitative trading function. This hands-off approach allows users to trade automatically. BYTESWAP comprehensively covers data in the current blockchain field. It supports the single currency BYTESWAP and mainstream currencies such as USDT, ETH, BTC, FIL, BNB, SHIB, DOGE, AXS, and more. The journey of BYTESWAP began in late 2019 when it assembled a technical team dedicated to pushing the boundaries of blockchain technology. Over four years, the company has achieved technological milestones and engaged in exploration to refine its services. Looking ahead, BYTESWAP has ambitious plans. The company is targeting June 2025 for an Initial Public Offering (IPO), setting its sights on becoming a publicly traded entity. This move underscores BYTESWAP's commitment to long-term growth and innovation in the blockchain industry. For more information about BYTESWAP and its services, please visit their website . About BYTESWAP: BYTESWAP is dedicated to driving global cryptocurrency adoption and making cryptocurrency a seamless part of people's daily lives. As a blockchain service provider, BYTESWAP offers a wide range of blockchain services and actively contributes to blockchain technology's development through its technological prowess and operational expertise. Story continues Media Contact Organization: ByteSwap Ltd. Contact Person: Alexander Mitchell Website: https://bytescoin.com Email: [email protected] City: Denver State: Colorado Country: United States", "Crypto traders expect the approval of a spot bitcoin ETF to reinvigorate the markets. Major tokens, such as XRP, Solana's SOL, BNB Chain's BNB have stabilized after being in the red. Crypto markets seemed to stabilize in the past 24 hours following a nearly week-long drop as ongoing geopolitical conflicts seemed to weigh down on prices of riskier assets. Markets slumped since Monday as traders priced in rising oil prices and a drop in traditional equities as the turmoil could impact international trade, analysts told CoinDesk . Bitcoin hovered just over the $26,8000 mark after losing 3% in the past week, with ether (ETH) traded over $1,500 after a 5% weekly hit. Other major tokens stabilized after seeing some losses: XRP and Solana’s SOL had dumped as much as 8%, while BNB Chain’s BNB and dogecoin (DOGE) had performed slightly better with a 3% loss. Some analysts opined the current price action observed in bitcoin markets was not necessarily bullish or bearish, and pointed to an equilibrium among buyers and sellers instead. “Bitcoin has recently been in a building phase, neither particularly bullish nor bearish,” said Andy Bromberg, CEO of Beam told CoinDesk in an email. “At the moment, there's a balance, with few newcomers entering into Bitcoin and equally few exiting,” “This balance creates a relatively stable price. Significant movement is unlikely to happen until after some sort of catalyst, such as the halving or the introduction of spot ETFs,” Bromberg added. Traders are eagerly awaiting the approval of a spot bitcoin exchange-traded fund (ETF) in the U.S., expecting the offering to open the floodgates to broader institutional demand and an inflow of new money. Meanwhile, part of Friday’s stability in the bitcoin-led market may have come from confidence in the long-term “quality” asset after an initial sell-off scare. “After the exuberance of the last few years, we’ve seen a large flight to quality, both in terms of providers and assets,” said Dan O’Prey, Chief Product Officer of Bakkt in a note to CoinDesk. “Bitcoin, being the most decentralized and secure asset, has also benefited from flows from the riskier, long-tail coins.’ Bobby Zagotta, US CEO of Bitstamp said that bitcoin would “continue to be the most established, understood and trusted cryptocurrency available for the foreseeable future,” adding that the exchange’s active trading clients continued to grow on a week-on-week basis.", "• Crypto traders expect the approval of a spot bitcoin ETF to reinvigorate the markets.\n• Major tokens, such as XRP, Solana's SOL, BNB Chain's BNB have stabilized after being in the red.\nCrypto markets seemed to stabilize in the past 24 hours following a nearly week-long drop as ongoing geopolitical conflicts seemed to weigh down on prices of riskier assets.\nMarkets slumped since Monday as traders priced in rising oil prices and a drop in traditional equities as the turmoil could impact international trade,analysts told CoinDesk.\nBitcoin hovered just over the $26,8000 mark after losing 3% in the past week, with ether (ETH) traded over $1,500 after a 5% weekly hit. Other major tokens stabilized after seeing some losses: XRP and Solana’s SOL had dumped as much as 8%, while BNB Chain’s BNB and dogecoin (DOGE) had performed slightly better with a 3% loss.\nSome analysts opined the current price action observed in bitcoin markets was not necessarily bullish or bearish, and pointed to an equilibrium among buyers and sellers instead.\n“Bitcoin has recently been in a building phase, neither particularly bullish nor bearish,” said Andy Bromberg, CEO of Beam told CoinDesk in an email. “At the moment, there's a balance, with few newcomers entering into Bitcoin and equally few exiting,”\n“This balance creates a relatively stable price. Significant movement is unlikely to happen until after some sort of catalyst, such as the halving or the introduction of spot ETFs,” Bromberg added.\nTraders are eagerly awaiting the approval of a spot bitcoin exchange-traded fund (ETF) in the U.S., expecting the offering to open the floodgates to broader institutional demand and an inflow of new money.\nMeanwhile, part of Friday’s stability in the bitcoin-led market may have come from confidence in the long-term “quality” asset after an initial sell-off scare.\n“After the exuberance of the last few years, we’ve seen a large flight to quality, both in terms of providers and assets,” said Dan O’Prey, Chief Product Officer of Bakkt in a note to CoinDesk. “Bitcoin, being the most decentralized and secure asset, has also benefited from flows from the riskier, long-tail coins.’\nBobby Zagotta, US CEO of Bitstamp said that bitcoin would “continue to be the most established, understood and trusted cryptocurrency available for the foreseeable future,” adding that the exchange’s active trading clients continued to grow on a week-on-week basis.", "• Crypto traders expect the approval of a spot bitcoin ETF to reinvigorate the markets.\n• Major tokens, such as XRP, Solana's SOL, BNB Chain's BNB have stabilized after being in the red.\nCrypto markets seemed to stabilize in the past 24 hours following a nearly week-long drop as ongoing geopolitical conflicts seemed to weigh down on prices of riskier assets.\nMarkets slumped since Monday as traders priced in rising oil prices and a drop in traditional equities as the turmoil could impact international trade,analysts told CoinDesk.\nBitcoin hovered just over the $26,8000 mark after losing 3% in the past week, with ether (ETH) traded over $1,500 after a 5% weekly hit. Other major tokens stabilized after seeing some losses: XRP and Solana’s SOL had dumped as much as 8%, while BNB Chain’s BNB and dogecoin (DOGE) had performed slightly better with a 3% loss.\nSome analysts opined the current price action observed in bitcoin markets was not necessarily bullish or bearish, and pointed to an equilibrium among buyers and sellers instead.\n“Bitcoin has recently been in a building phase, neither particularly bullish nor bearish,” said Andy Bromberg, CEO of Beam told CoinDesk in an email. “At the moment, there's a balance, with few newcomers entering into Bitcoin and equally few exiting,”\n“This balance creates a relatively stable price. Significant movement is unlikely to happen until after some sort of catalyst, such as the halving or the introduction of spot ETFs,” Bromberg added.\nTraders are eagerly awaiting the approval of a spot bitcoin exchange-traded fund (ETF) in the U.S., expecting the offering to open the floodgates to broader institutional demand and an inflow of new money.\nMeanwhile, part of Friday’s stability in the bitcoin-led market may have come from confidence in the long-term “quality” asset after an initial sell-off scare.\n“After the exuberance of the last few years, we’ve seen a large flight to quality, both in terms of providers and assets,” said Dan O’Prey, Chief Product Officer of Bakkt in a note to CoinDesk. “Bitcoin, being the most decentralized and secure asset, has also benefited from flows from the riskier, long-tail coins.’\nBobby Zagotta, US CEO of Bitstamp said that bitcoin would “continue to be the most established, understood and trusted cryptocurrency available for the foreseeable future,” adding that the exchange’s active trading clients continued to grow on a week-on-week basis.", '• Approval of the highly-anticipated spot-based bitcoin exchange-traded funds (ETFs) is partially priced in, Coinbase Institutional\'s David Duong Argues.\n• The expected deluge of money into the spot-based ETFs will likely happen overtime.\nIn financial markets, a particular asset often stands out on the back of unconfirmed good news, while the broader market suffers due to adverse macroeconomic developments.\nThat\'s precisely what has happened in the crypto market in recent months. Bitcoin (BTC) has outperformed other cryptocurrencies amid macroeconomic uncertainty, partially due to traders pricing a potential approval of spot-based exchange-traded funds (ETFs), according to Coinbase Institutional.\n"We think the divergence in the performance of bitcoin and other tokens shows that the potential approval of one or more spot bitcoin ETPs has already been partially priced in. That makes it less clear how much more bitcoin could outperform if a favorable U.S. Securities and Exchange Commission (SEC) decision occurs," David Duong, head of institutional research at Coinbase Institutional, said in the latest monthly report sent to subscribers on Thursday.\nSinceBlackRock(BLK) and other traditional finance heavyweights filed for spot-based BTC ETFs in mid-June, bitcoin has gained 8%. At the same time, ether, the second-largest cryptocurrency by market value and leader for alternative cryptocurrencies, has lost 7.5%, CoinDesk data show.\nBitcoin, a macro asset, outperformed the wider crypto market despite untoward developments in the term structure of the U.S.Treasury yield curvesince mid-June, a sign other factors, including ETF expectations, have been at play in the BTC market.\nThe cryptocurrency rose even as the spread between yields on the 10-year and three-month notes ((3m10y slope) has increased (re-steepened) by nearly 70 basis points to -0.8% since mid-June as opposed to ether, which declined, retaining the inverse relationship with the Treasury yield curve\'s term structure.\n"Crypto prices have had an inverse relationship with changes in the term structure of the U.S. Treasury yield curve since mid-1Q23. But the strength of that relationship is very different for BTC (vs. the U.S. 3m10y slope) compared to ETH (vs the U.S. 3m10y slope)," Duong said.\nThe 90-day correlation coefficient between bitcoin and the aforementioned yield spread is 0.45, "a relatively weak linear relationship between bitcoin and the recent steepening in the yield curve," according to Duong. Meanwhile, ether shows a strong inverse relationship with a correlation coefficient of 0.76.\n"This deviation started to emerge in mid-June, around the time of multiple spot bitcoin exchange-traded product ETP filings in the U.S.," Duong said.\nThe crypto market has waited for a spot-based bitcoin ETF for years in hopes that it would open floodgates for mainstream money. According to NYDIG, bitcoin spot-based ETFs could bring $30 billion in new demand for the world’s largest digital asset.\nGoing by Coinbase\'s analysis, bitcoin may lose its edge over the broader market for some time once the spot-based ETF is approved. We have seen this happen following the launch of the futures-based ETFs in October 2021.\n"That [pricing of spot ETF) makes it less clear how much more bitcoin could outperform if a favorable U.S. Securities and Exchange Commission SEC decision occurs. That is, in the event of one or more approvals, we believe there could be meaningful net inflows, but these may take time to materialize while markets tend to be impatient," Duong said.\nThat was the case with the SPDR Gold Shares ETF (GLD), the first spot gold ETF in the U.S., which debuted 19 years ago and currently has over $50 billion in assets. Bitcoin propounders consider the cryptocurrency as digital gold.\nPer Duong, GLD drew just $1.9 billion in inflation-adjusted terms in the first 30 days from the launch, with the tally rising to $4.8 billion by the end of the first 12 months.\nDuong, however, maintained that the impact of the potential launch of spot-based ETFs would go beyond flows, signaling a "tacit shift" in the regulatory environment, which could bode well for market valuations.', 'Approval of the highly-anticipated spot-based bitcoin exchange-traded funds (ETFs) is partially priced in, Coinbase Institutional\'s David Duong Argues. The expected deluge of money into the spot-based ETFs will likely happen overtime. In financial markets, a particular asset often stands out on the back of unconfirmed good news, while the broader market suffers due to adverse macroeconomic developments. That\'s precisely what has happened in the crypto market in recent months. Bitcoin (BTC) has outperformed other cryptocurrencies amid macroeconomic uncertainty, partially due to traders pricing a potential approval of spot-based exchange-traded funds (ETFs), according to Coinbase Institutional. "We think the divergence in the performance of bitcoin and other tokens shows that the potential approval of one or more spot bitcoin ETPs has already been partially priced in. That makes it less clear how much more bitcoin could outperform if a favorable U.S. Securities and Exchange Commission (SEC) decision occurs," David Duong, head of institutional research at Coinbase Institutional, said in the latest monthly report sent to subscribers on Thursday. Since BlackRock (BLK) and other traditional finance heavyweights filed for spot-based BTC ETFs in mid-June, bitcoin has gained 8%. At the same time, ether, the second-largest cryptocurrency by market value and leader for alternative cryptocurrencies, has lost 7.5%, CoinDesk data show. Bitcoin, a macro asset, outperformed the wider crypto market despite untoward developments in the term structure of the U.S. Treasury yield curve since mid-June, a sign other factors, including ETF expectations, have been at play in the BTC market. The cryptocurrency rose even as the spread between yields on the 10-year and three-month notes ((3m10y slope) has increased (re-steepened) by nearly 70 basis points to -0.8% since mid-June as opposed to ether, which declined, retaining the inverse relationship with the Treasury yield curve\'s term structure. "Crypto prices have had an inverse relationship with changes in the term structure of the U.S. Treasury yield curve since mid-1Q23. But the strength of that relationship is very different for BTC (vs. the U.S. 3m10y slope) compared to ETH (vs the U.S. 3m10y slope)," Duong said. Ether\'s negative correlation with the yield curve is stronger than bitcoin. (Coinbase) The 90-day correlation coefficient between bitcoin and the aforementioned yield spread is 0.45, "a relatively weak linear relationship between bitcoin and the recent steepening in the yield curve," according to Duong. Meanwhile, ether shows a strong inverse relationship with a correlation coefficient of 0.76. Story continues "This deviation started to emerge in mid-June, around the time of multiple spot bitcoin exchange-traded product ETP filings in the U.S.," Duong said. The crypto market has waited for a spot-based bitcoin ETF for years in hopes that it would open floodgates for mainstream money. According to NYDIG, bitcoin spot-based ETFs could bring $30 billion in new demand for the world’s largest digital asset. BTC outlook Going by Coinbase\'s analysis, bitcoin may lose its edge over the broader market for some time once the spot-based ETF is approved. We have seen this happen following the launch of the futures-based ETFs in October 2021. "That [pricing of spot ETF) makes it less clear how much more bitcoin could outperform if a favorable U.S. Securities and Exchange Commission SEC decision occurs. That is, in the event of one or more approvals, we believe there could be meaningful net inflows, but these may take time to materialize while markets tend to be impatient," Duong said. That was the case with the SPDR Gold Shares ETF (GLD), the first spot gold ETF in the U.S., which debuted 19 years ago and currently has over $50 billion in assets. Bitcoin propounders consider the cryptocurrency as digital gold. Expected inflows into highly-anticipated ETFs tend to materialize over time. (Coinbase) Per Duong, GLD drew just $1.9 billion in inflation-adjusted terms in the first 30 days from the launch, with the tally rising to $4.8 billion by the end of the first 12 months. Duong, however, maintained that the impact of the potential launch of spot-based ETFs would go beyond flows, signaling a "tacit shift" in the regulatory environment, which could bode well for market valuations. View comments', '• Approval of the highly-anticipated spot-based bitcoin exchange-traded funds (ETFs) is partially priced in, Coinbase Institutional\'s David Duong Argues.\n• The expected deluge of money into the spot-based ETFs will likely happen overtime.\nIn financial markets, a particular asset often stands out on the back of unconfirmed good news, while the broader market suffers due to adverse macroeconomic developments.\nThat\'s precisely what has happened in the crypto market in recent months. Bitcoin (BTC) has outperformed other cryptocurrencies amid macroeconomic uncertainty, partially due to traders pricing a potential approval of spot-based exchange-traded funds (ETFs), according to Coinbase Institutional.\n"We think the divergence in the performance of bitcoin and other tokens shows that the potential approval of one or more spot bitcoin ETPs has already been partially priced in. That makes it less clear how much more bitcoin could outperform if a favorable U.S. Securities and Exchange Commission (SEC) decision occurs," David Duong, head of institutional research at Coinbase Institutional, said in the latest monthly report sent to subscribers on Thursday.\nSinceBlackRock(BLK) and other traditional finance heavyweights filed for spot-based BTC ETFs in mid-June, bitcoin has gained 8%. At the same time, ether, the second-largest cryptocurrency by market value and leader for alternative cryptocurrencies, has lost 7.5%, CoinDesk data show.\nBitcoin, a macro asset, outperformed the wider crypto market despite untoward developments in the term structure of the U.S.Treasury yield curvesince mid-June, a sign other factors, including ETF expectations, have been at play in the BTC market.\nThe cryptocurrency rose even as the spread between yields on the 10-year and three-month notes ((3m10y slope) has increased (re-steepened) by nearly 70 basis points to -0.8% since mid-June as opposed to ether, which declined, retaining the inverse relationship with the Treasury yield curve\'s term structure.\n"Crypto prices have had an inverse relationship with changes in the term structure of the U.S. Treasury yield curve since mid-1Q23. But the strength of that relationship is very different for BTC (vs. the U.S. 3m10y slope) compared to ETH (vs the U.S. 3m10y slope)," Duong said.\nThe 90-day correlation coefficient between bitcoin and the aforementioned yield spread is 0.45, "a relatively weak linear relationship between bitcoin and the recent steepening in the yield curve," according to Duong. Meanwhile, ether shows a strong inverse relationship with a correlation coefficient of 0.76.\n"This deviation started to emerge in mid-June, around the time of multiple spot bitcoin exchange-traded product ETP filings in the U.S.," Duong said.\nThe crypto market has waited for a spot-based bitcoin ETF for years in hopes that it would open floodgates for mainstream money. According to NYDIG, bitcoin spot-based ETFs could bring $30 billion in new demand for the world’s largest digital asset.\nGoing by Coinbase\'s analysis, bitcoin may lose its edge over the broader market for some time once the spot-based ETF is approved. We have seen this happen following the launch of the futures-based ETFs in October 2021.\n"That [pricing of spot ETF) makes it less clear how much more bitcoin could outperform if a favorable U.S. Securities and Exchange Commission SEC decision occurs. That is, in the event of one or more approvals, we believe there could be meaningful net inflows, but these may take time to materialize while markets tend to be impatient," Duong said.\nThat was the case with the SPDR Gold Shares ETF (GLD), the first spot gold ETF in the U.S., which debuted 19 years ago and currently has over $50 billion in assets. Bitcoin propounders consider the cryptocurrency as digital gold.\nPer Duong, GLD drew just $1.9 billion in inflation-adjusted terms in the first 30 days from the launch, with the tally rising to $4.8 billion by the end of the first 12 months.\nDuong, however, maintained that the impact of the potential launch of spot-based ETFs would go beyond flows, signaling a "tacit shift" in the regulatory environment, which could bode well for market valuations.', 'Chicago, IL – October 13, 2023 – Zacks Equity Research sharesAZEKAZEK as the Bull of the Day andMorgan StanleyMS as the Bear of the Day. In addition, Zacks Equity Research provides analysis onNVIDIA Corp.NVDA,CME Group Inc.\'sCME andCoinbase Global, Inc.COIN.\nHere is a synopsis of all five stocks:\nAZEKis a Zacks Rank #1 (Strong Buy) that engages in the manufacturing and selling of building products for residential, commercial, and industrial markets in the United States.\nThe stock fell apart in 2022 but has rallied over 100% off those lows from last year. Investors have seen a 25% sell-off over the last month, so the question right now is if the stock is a buy before earnings.\nThe bulls might have a case to stay long as analyst estimates are moving higher as the stock tests technical support. This makes the current trading level an attractive area to enter the stock.\nAZEK was founded in 2013 and is headquartered in Chicago, IL. The company operates through two segments: Residential and Commercial.\nThe residential side designs and manufacturers decking, railing, trim, molding, and other similar products. The commercial side manufactures engineered polymer materials used in various industries.\nThe stock has a Zacks Style Score of "B" in Growth and Momentum. It has a Forward PE of 27 and pays no dividend. AZEK currently employs over 2,100 and has a market cap of $4 billion.\nIn early August AZEK reported a Q3 beat of 15%. The company also saw a slight revenue beat and guided FY23 higher, seeing $1.34-1.36B v the 1.3B expected.\nThe company also raised FY23 EBITDA and Capex. Margins were higher at 25% v 21.9% last year.\nManagement commented that demand signals are providing a positive backdrop for the remainder of the building season. They added that the residential segment sell-through growth is improving versus the prior quarter.\nThe stock reacted positively, moving about 5% higher after EPS. From there, the stock drifted to February 2022 highs before starting to trend lower.\nAnalyst estimates have been trending higher since before earnings and have continued to be taken higher since the August earnings report.\nLooking at the current quarter, estimates are moving 20% higher over the last 90 days. For the next quarter, estimates have gone from $0.02 to $0.07 over that same time frame, a move of 250%.\nLooking at the longer term, estimates are moving higher as well.\nFor the current year, analysts have taken numbers from $0.57 to $0.68, or 19%. For next year, we see estimates jump from $0.86 to $1.05, or 22%.\nAnalyst have also raised their price targets since the earnings report.\nGoldman reiterated its Buy and lifted its price target to $37 from $32. JPMorgan Chase lifted its target to $37 from $30 and reiterated its Overweight.\nAZEK next reports in November and a recent note from Jefferies saying they expect a guide coming in line with consensus. They expect growth in 2024 and believe the stock will react favorably to earnings.\nThe stock has recently sold off and now resides right at the 200-day moving average. The selling went hand in hand with the overall market sell-off and the move higher in interest rates.\nInvestors have a solid entry point at the 200-day, which lines up with a 61.8% Fibonacci retracement drawn from May lows to recent highs. This setup provides a good risk reward against the March lows while looking for a return to 2023 highs.\nAfter a rough ride in 2022, AZEK looks poised to provide solid fundamentals into next year. Earnings are scheduled for the end of November and will be a catalyst for the direction of the stock.\nThe recent pullback provides a good risk reward for bullish investors and a starter position should be considered at current levels.\nMorgan Stanleyis a Zacks Rank #5 (Strong Sell) that provides various financial products and services to corporations, governments, financial institutions, and individuals.\nThe stock is trading near lows as earnings approach next week. Investors should be cautious as the price action does not look great ahead of the print. Additionally, analyst estimates have been falling for the last few months.\nMorgan Stanley is one of the most recognizable names on Wall Street. It was founded in 1924 and is headquartered in New York, New York.The company employs over 80,000 people.\nThe company\'s business is divided into three segments:\nThe Institutional Securities segment contributed 45.5% of total net revenues in 2022 and includes activities such as capital raising, corporate lending, trading, and market-making.\nThe Wealth Management segment also accounted for 45.5% of 2022 revenues. It provides brokerage and investment advisory services covering various investment alternatives.\nThe Investment Management segment is the smallest, bringing in 9% of revenues. It provides global asset management products and services in equity, fixed-income, and alternative investments.\nMS is valued at $130 billion and has a Forward PE of 14. The stock holds Zacks Style Scores of "F" in Growth, Momentum and Value. The stock pays a dividend of 4.3%.\nMorgan Stanley last reported in July, seeing an 8% EPS beat. The company beat on revenues and the Wealth and Management segment added $100B in new assets.\nHowever, other areas including Institutional securities, fixed income, equity revenue and investment management were down year over year.\nManagement commented that the firm delivered solid results in a challenging market environment. While this was certainly true for Q2, analyst have been lowering estimates for the upcoming quarter and beyond.\nOver the last 90 days, numbers for the current quarter have been taken down from $1.45 to $1.28, or 12%.\nFor the current year, analysts have lowered estimates by 8% over that same time frame.\nLooking at the longer term, numbers are going lower as well. For next year, estimates have fallen from $6.98 to $6.82 over the last 30 days or almost 2%.\nThe company will report on October 18thand investors should be aware of this momentum lower. While expectations are low an earnings miss could bring the stock to new 2023 lows.\nOver the last two years, Morgan Stanley has traded between $70 and $105. The stock now sits at the bottom of that range and is at lows of the year, down 8% in 2023.\nWhile it might be tempting to buy into the pullback, the stock is well below its moving averages. The 200-day is at $88, while the 50-day is at $84.\nInvestors should be patient into the print and see if things improve. If the momentum lower continues, the stock could fall below $70 and hit halfway back from the Covid-lows to highs, which is $68.\nMorgan Stanley and other banks continue to display terrible price action. Trading at 2023 lows going into earnings is not a bullish sign and investors should be patient.\nThe cryptocurrency market staged a solid rebound this year after a disappointing 2022 as the Federal Reserve\'s monetary tightening campaign, which saw aggressive interest rate hikes to combat multi-decade high inflation, weighed on cryptocurrencies.\nHowever, cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE) and BNB (BNB), have been rangebound over the past three months as investors are yet to get a clear picture about the Fed\'s future course of action with its interest rate hikes.\nBitcoin particularly had been on a rally till July, with its price hitting $31,500. However, the Fed has since hiked interest rates once in July, following which cryptocurrencies took a hit once again. In fact, Bitcoin has been falling since hitting its 52-week high in early July.\nHowever, it has also solidified its position over the past few weeks and is now hovering around $26,900 after falling as much as $25,400 in late August and September.\nThe rebound has been taking place since the Fed kept its benchmark policy rate unchanged in its September FOMC meeting to its current range of 5.25-5.25%.\nA higher market interest rate has a negative impact on high-growth sectors such as technology, consumer discretionary and cryptocurrencies. The Fed\'s aggressive monetary tightening policy has also raised worries that the economy might slip into a recession.\nFed Chair Jerome Powell, in his first post-FOMC comment, said that inflation remains elevated, which might require the central bank to hike interest rates by another 25 basis points before it starts cutting interest rates in 2024.\nFollowing Powell\'s hawkish comments, the yield on the 10-year U.S. Treasury Note surged to its highest level since 2007. The 10-year Treasury yield holds immense significance as it mirrors market participants\' outlook on the nation\'s economic situation, influencing consumers, businesses and government entities.\nHowever, cryptocurrencies are once again trying to rebound from their recent lows as investors\' sentiments have been upbeat following dovish comments from a number of Fed officials. These officials believe that the recent tightening of credit conditions may make the central bank decide not to go for another interest rate hike in its November FOMC meeting.\nNVIDIA Corp.is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence and the mining or production of cryptocurrencies.\nNVIDIA\'s expected earnings growth rate for the current year is 221.6%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 60 days. NVIDIA presently sports a Zacks Rank #1 (Strong Buy). You can seethe complete list of today\'s Zacks #1 Rank (Strong Buy) stocks here.\nCME Group Inc.\'s options give the buyer of the call/put the right to buy/sell cryptocurrency futures contracts at a specific price at some future date. CME offers bitcoin and ether options based on the exchange\'s cash-settled standard and micro BTC and ETH futures contracts.\nCME Group\'s expected earnings growth rate for the current year is 14.1%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the last 60 days. CME presently has a Zacks Rank #2.\nCoinbase Global, Inc.offers financial infrastructure and technology to support the global cryptocurrency economy. COIN provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment.\nCoinbase Global\'s expected earnings growth rate for the current year is 84.5%. The Zacks Consensus Estimate for current-year earnings has improved 4.4% over the last 60 days. Coinbase currently has a Zacks Rank #2.\nWhy Haven\'t You Looked at Zacks\' Top Stocks?\nSince 2000, our top stock-picking strategies have blown away the S&P\'s +6.2 average gain per year. Amazingly, they soared with average gains of+46.4%, +49.5%and+55.2%per year. Today you can access their live picks without cost or obligation.\nSee Stocks Free >>\nMedia Contact\nZacks Investment Research\n800-767-3771 ext. 9339\nhttps://www.zacks.com\nZacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.\nPast performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constit
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-13
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $522,705,035,625
- Hash Rate: 393226532.892176
- Transaction Count: 279518.0
- Unique Addresses: 662518.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.44
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: This article was originally published onETFTrends.com.
Approval of a spot bitcoin exchange traded fund in the U.S. is one of the most widely anticipated and delayed events in the roughly three-decade history of the ETF industry.
Those delays are popping up again. The Securities and Exchange Commission (SEC) recently put off decisions on some recent spot bitcoin ETF filings until next year. That’s not unusual – the commission has an established history of doing that. Nor does it mean those filings will be rejected. For now, however, there’s plenty of speculation and not much in the way of tangible results in terms of these ETFs coming to market in the U.S.
One thing that crypto bulls and market observers can agree on is that the price of bitcoin could surge in epic fashion if related spot ETFs are approved in the U.S. If that happens, established crypto-related ETFs such as theInvesco Alerian Galaxy Crypto Economy ETF (SATO)could generate noteworthy upside of their own.
On the spot bitcoin ETF approval front, SATO is relevant for multiple reasons. First, the bulk of the ETF’s 36 holdings are bitcoin miners – an asset class intimately correlated to the digital currency’s price action.
Second, SATO’s largest holding is theGrayscale Bitcoin Trust (GBTC). That fund would likely rocket higher if a spot bitcoin ETF comes to life. In fact, Grayscale is attempting to convert GBTC to the ETF wrapper. GBTC accounts for 17.66% of SATO’s roster. The point is the approval of a spot bitcoin ETF has implications, most of them positive, for assets like SATO. Consider the following.
In a recent interview with CNBC, Fundstrat's Tom Lee said a US-listed spot bitcoin ETF could lead to favorable supply/demand dynamics for the digital currency. That would potentially take its price to $150,000 and perhaps as high as $180,000. Those prices are more than five and six times where bitcoin resides at this writing.
Even if the SEC doesn’t approve a spot bitcoin ETF, there are avenues for bitcoin to deliver 2024 upside. Though not likely to the tune of reaching six-figure territory. Lee mentions the 2024 halving and the possibility of a more accommodative monetary policy from the Fed as potential catalysts for the cryptocurrency next year.
“Crypto is dependent on monetary policy. So, if inflation is cooling, then we can start to bet on forward financial conditions easing and central bank easing sooner," Lee said in the CNBC interview. "That's bullish for crypto or alternative assets."
For more news, information, and analysis, visit theCrypto Channel.
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['REUTERS/Brendan McDermid US stocks ended mixed but made weekly gains as investors digested lower interest rates and prepare for third-quarter earnings. The 10-year Treasury yield fell about 25 basis points from its 52-week high this week to 4.63%. A slew of bank earnings kicked off earnings season on Friday, and investors are expecting a rebound in profits. US stocks were mixed on Friday but ended the week higher as investors digested a decline in interest rates and the start of the third-quarter earnings season. The 10-year US Treasury yield fell about 25 basis points over the course of the week from its 52-week high of 4.88% to 4.63%. The decline was sparked by a safety trade following the outbreak of war between Israel and Hamas, as well as a wave of dovish comments from Federal Reserve members. The most recent came on Friday from Philadelphia Fed President Patrick Harker, who advocated for a pause in interest rate hikes. "Absent a stark turn in what I see in the data and hear from contacts... I believe that we are at the point where we can hold rates where they are. Look, we did a lot, and we did it very fast," he said in prepared remarks to the Delaware State Chamber of Commerce. Friday also marked the start of third-quarter earnings season with results from several banks and financial institutions. JPMorgan , Wells Fargo , Citigroup , and BlackRock all beat analyst estimates for revenue and profit. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Friday: S&P 500 : 4,327.78, down 0.50% Dow Jones Industrial Average : 33,670.29, up 0.12% (39.15 points) Nasdaq Composite : 13,407.23, down 1.23% Here\'s what else happened today: Wharton professor Jeremy Siegel argued that stocks still represent a good value, even if an economic recession arrives. China remains on the brink of deflation as the country continues to see weakness in its economy following a lackluster reopening from the COVID-19 pandemic. Ray Dalio warned that the Israel-Hamas conflict could trigger more clashes around the world, with the risk of war rising to 50%. JPMorgan CEO Jamie Dimon warned it\'s "the most dangerous time the world has seen in decades" amid global conflicts and soaring debts. Home foreclosure activity in the US\xa0 surged to the highest level since the start of the pandemic , a sign that the financial aftermath of COVID-19 has been wearing out cash-strapped homeowners. Oil prices surged 5% on Friday amid geopolitical tensions in the Middle East and after the US imposed sanctions related to Russian oil. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 5.70% to $87.64 a barrel. Brent crude , the international benchmark, gained 5.69% to $90.89 a barrel. Gold jumped 3.11% to $1,941.60 per ounce. The 10-year Treasury yield fell 8 basis points to 4.62% on Friday. Bitcoin rose 0.01% to $26,757. Read the original article on Business Insider', '• US stocks ended mixed but made weekly gains as investors digested lower interest rates and prepare for third-quarter earnings.\n• The 10-year Treasury yield fell about 25 basis points from its 52-week high this week to 4.63%.\n• A slew of bank earnings kicked off earnings season on Friday, and investors are expecting a rebound in profits.\nUS stocks were mixed on Friday but ended the week higher as investors digested a decline in interest rates and the start of the third-quarter earnings season.\nThe 10-year US Treasury yield fell about 25 basis points over the course of the week from its 52-week high of 4.88% to 4.63%. The decline was sparked by a safety trade following the outbreak of war between Israel and Hamas, as well as a wave of dovish comments from Federal Reserve members.\nThe most recent came on Friday from Philadelphia Fed President Patrick Harker, who advocated for a pause in interest rate hikes.\n"Absent a stark turn in what I see in the data and hear from contacts... I believe that we are at the point where we can hold rates where they are. Look, we did a lot, and we did it very fast," he said in prepared remarks to the Delaware State Chamber of Commerce.\nFriday also marked the start of third-quarter earnings season with results from several banks and financial institutions.JPMorgan,Wells Fargo,Citigroup, andBlackRockall beat analyst estimates for revenue and profit.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Friday:\n• S&P 500:4,327.78, down 0.50%\n• Dow Jones Industrial Average: 33,670.29, up 0.12% (39.15 points)\n• Nasdaq Composite:13,407.23, down 1.23%\nHere\'s what else happened today:\n• Wharton professorJeremy Siegel argued that stocks still represent a good value,even if an economic recession arrives.\n• China remains on the brink of deflationas the country continues to see weakness in its economy following a lackluster reopening from the COVID-19 pandemic.\n• Ray Dalio warned that the Israel-Hamas conflict could trigger more clashesaround the world, with the risk of war rising to 50%.\n• JPMorgan CEO Jamie Dimon warned it\'s "the most dangerous time the world has seen in decades"amid global conflicts and soaring debts.\n• Home foreclosure activity in the US\xa0 surged to the highest level since the start of the pandemic, a sign that the financial aftermath of COVID-19 has been wearing out cash-strapped homeowners.\n• Oil prices surged 5% on Friday amid geopolitical tensionsin the Middle East and after the US imposed sanctions related to Russian oil.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 5.70% to $87.64 a barrel.Brent crude, the international benchmark, gained 5.69% to $90.89 a barrel.\n• Goldjumped 3.11% to $1,941.60 per ounce.\n• The 10-year Treasury yield fell 8 basis points to 4.62% on Friday.\n• Bitcoinrose 0.01% to $26,757.\nRead the original article onBusiness Insider', 'Bitcoin. Getty Images A Bitcoin mine in Wyoming is on the radar of Pentagon officials. The mine is connected to multiple Chinese companies and sits across from a Microsoft data center. The company said that its placement near the data center, which supports the Pentagon, was unrelated. Pentagon officials monitoring a Bitcoin operation in Wyoming that sits across from a Microsoft data center and a nearby military base are worried that the owners\' ties to China could pose a national security threat, per The New York Times . Microsoft believed the location could allow the Chinese government to "pursue full-spectrum intelligence collection operations" directed at the data center and the Francis E. Warren Air Force Base, which houses ICBMs. The crypto mining operation first came under the US government\'s purview after a team at Microsoft submitted a report to the Committee on Foreign Investment in August 2022. The team believed the mining operation had the potential to collect information from the data center, which supports the operational needs of the Pentagon , the Times reported. "Microsoft has no direct indications of malicious activities by this entity," Microsoft wrote, per the Times. "However, pending further discovery, we suggest the possibility that the computing power of an industrial-level cryptomining operation, along with the presence of an unidentified number of Chinese nationals in direct proximity to Microsoft\'s Data Center and one of three strategic-missile bases in the US, provides significant threat vectors." In 2021, China banned the resource-intensive practice of Bitcoin mining . Businesses in the cryptocurrency market scrambled to establish themselves in other countries, including the US. The Times identified mines in 12 states that were owned by Chinese nationals. Per the outlet, some had ties to the Chinese government , some did not, and others could not be easily traced. The Cheyenne, Wyoming, center was one such mine, per the Times. The Times reported that the mining operation is linked to five different companies, with one company, Bit Origin Ltd., previously registered as a pork-processing company in the Cayman Islands . Story continues Li Jiaming, the president of Bit Origin Ltd., said that the Microsoft data center or the nearby military base had nothing to do with why the area was chosen. Instead, the mine was placed there because a local utility company agreed to work with Bit Origin. "Even though we are a Microsoft neighbor and a couple of miles from the base, without power it is nothing — the business cannot succeed," Jiaming told the Times. Officials who spoke with the Times cited concerns that the mines, which use an immense amount of electricity in their operations, would be used to purposefully overwhelm electrical grids to cause planned blackouts and complete other cyberattacks . US officials have expressed growing concern that the Chinese government is attempting to target and disrupt US military operations. In July, the Times reported military officials identified Chinese malware that could disrupt power, water, and communications to military bases. Read the original article on Business Insider', '• A Bitcoin mine in Wyoming is on the radar of Pentagon officials.\n• The mine is connected to multiple Chinese companies and sits across from a Microsoft data center.\n• The company said that its placement near the data center, which supports the Pentagon, was unrelated.\nPentagon officials monitoring a Bitcoin operation inWyomingthat sits across from a Microsoft data center and a nearby military base are worried that the owners\' ties to China could pose a national security threat, perThe New York Times.\nMicrosoft believed the location could allow the Chinese government to "pursue full-spectrum intelligence collection operations" directed at the data center and the Francis E. Warren Air Force Base, which houses ICBMs.\nThecrypto mining operationfirst came under the US government\'s purview after a team atMicrosoftsubmitted a report to the Committee on Foreign Investment in August 2022. The team believed the mining operation had the potential to collect information from the data center, which supports the operational needs of thePentagon, the Times reported.\n"Microsoft has no direct indications of malicious activities by this entity," Microsoft wrote, per the Times. "However, pending further discovery, we suggest the possibility that the computing power of an industrial-level cryptomining operation, along with the presence of an unidentified number of Chinese nationals in direct proximity to Microsoft\'s Data Center and one of three strategic-missile bases in the US, provides significant threat vectors."\nIn 2021, China banned the resource-intensive practice ofBitcoin mining. Businesses in the cryptocurrency market scrambled to establish themselves in other countries, including the US.\nThe Times identified mines in 12 states that were owned by Chinese nationals. Per the outlet, some had ties to theChinese government, some did not, and others could not be easily traced.\nThe Cheyenne, Wyoming, center was one such mine, per the Times. The Times reported that the mining operation is linked to five different companies, with one company, Bit Origin Ltd., previously registered as a pork-processing company in theCayman Islands.\nLi Jiaming, the president of Bit Origin Ltd., said that the Microsoft data center or the nearby military base had nothing to do with why the area was chosen. Instead, the mine was placed there because a local utility company agreed to work with Bit Origin.\n"Even though we are a Microsoft neighbor and a couple of miles from the base, without power it is nothing — the business cannot succeed," Jiaming told the Times.\nOfficials who spoke with the Times cited concerns that the mines, which use an immense amount of electricity in their operations, would be used to purposefully overwhelmelectrical gridsto cause planned blackouts and complete othercyberattacks.\nUS officials have expressed growing concern that the Chinese government is attempting to target and disrupt US military operations. In July,the Timesreported military officials identifiedChinese malwarethat could disrupt power, water, and communications to military bases.\nRead the original article onBusiness Insider', 'In the last few years, short-squeeze stocks investing gained prominence in the euphoria of 2021. Retail investors targeted stocks that have a high short interest. When the stock started trending higher, shorts were covered, resulting in a massive rally in quick time. There were multibagger stories in a matter of weeks. Of course,GameStop(NYSE:GME) was the poster boy of the short squeeze rally.\nComing to the present times, the markets are certainly not in a phase of euphoria. However, stocks with high short interest continue to attract attention. Even from a technical perspective, oversold stocks with high short interest are likely to bounce back strongly.\nIt’s important to mention that the time horizon for investing in short-squeeze stocks is a few weeks to a few months. A 50% to 100% reversal rally in these stocks is a good time to exit, as most of these stories are average from a fundamental perspective.\nInvestorPlace - Stock Market News, Stock Advice & Trading Tips\nLet’s discuss three short-squeeze stocks to watch for a big rally.\nSource: Khosro / Shutterstock.com\nLucid Group(NASDAQ:LCID) stock performance has been dismal, with a downside of 61% in the last 12 months. Sentiments remain weak even after the big downside, and the short interest in the stock is currently at 25% of the free float. I believe the sell-off is overdone, and LCID stock is poised for a quick rally of 50%.\nThe underlying concern for Lucid Group is cash burn through 2026 or 2027. That implies sustained dilution of equity. However, in the recent past, there have been some positives helping to reverse sentiments.\nFirst, Lucid announced the opening of its first-everinternational car manufacturing facilityin Saudi Arabia. The plant has a capacity of 155,000 electric vehicles (EVs) per year. That will likely contribute to delivery growth in 2024 and beyond.\nThe company is also on track for anannual production guidanceof 10,000 vehicles. The production of Lucid Gravity isexpected in 2024,with deliveries planned for the following year. That will also contribute to delivery growth. Overall, some near-term positive news could trigger a rally from deeply oversold levels.\nSource: JL IMAGES / Shutterstock.com\nChargePoint Holdings(NYSE:CHPT) stock is another name on a sustained decline. After the big plunge, a 50% rally cannot be ruled out. It’s worth noting that CHPT stock has ashort interestof 26% even after the big correction.\nComing to the reasons for correction, sustained cash burn and intense industry competition are key headwinds. Further, ChargePointannounced a capital raise of $232 million.Dilution of equity is the reason for the recent downside.\nHaving said that, ChargePoint indicated that adjusted EBITDA will likely be positive by Q4 2024. That is good news, and if EBITDA losses narrow in the coming quarters, the stock is likely to react positively.\nIt’s worth adding here that I don’t see concerns from a revenue growth perspective. ChargePoint has a leading market position in North America and is already present in16 European markets.With a big addressable market, top-line growth will remain robust.\nSource: Yev_1234 / Shutterstock\nIt’s been a volatile year forMarathon Digital Holdings(NASDAQ:MARA) stock. The volatility has been in sync with the movement ofBitcoin(BTC-USD).\nI believe Marathon has average fundamentals. If Bitcoin trends higher in the coming months, MARA stock could easily rally by 100%. Even with the recent correction, theshort interestin the stock remains high at 28%.\nRegarding the business, Marathon has been aggressively ramping up Bitcoin mining capacity. To put things into perspective, the company reported an operational hash rate of 7 exahashes per second (EH/s) as of Q4 2022. With capacity addition, the hash rate increased to 17.7 EH/s as of Q3 2023.\nOnce the current expansion is completed, theoperational hash rate will swell to about 30 EH/s.That will position Marathon for robust revenue and cash flow growth in a scenario of Bitcoin surging higher. That seems likely with a Bitcoin halving due in 2024. Therefore, MARA stock seems poised for a massive rally and is among the short-squeeze stocks to watch.\nOn the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.\nFaisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.\n• The #1 AI Investment Might Be This Company You’ve Never Heard Of\n• Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.\n• The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors\nThe post3 Short-Squeeze Stocks to Keep an Eye on in Q4appeared first onInvestorPlace.', 'In the last few years, short-squeeze stocks investing gained prominence in the euphoria of 2021. Retail investors targeted stocks that have a high short interest. When the stock started trending higher, shorts were covered, resulting in a massive rally in quick time. There were multibagger stories in a matter of weeks. Of course, GameStop (NYSE: GME ) was the poster boy of the short squeeze rally. Coming to the present times, the markets are certainly not in a phase of euphoria. However, stocks with high short interest continue to attract attention. Even from a technical perspective, oversold stocks with high short interest are likely to bounce back strongly. It’s important to mention that the time horizon for investing in short-squeeze stocks is a few weeks to a few months. A 50% to 100% reversal rally in these stocks is a good time to exit, as most of these stories are average from a fundamental perspective. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Let’s discuss three short-squeeze stocks to watch for a big rally. Lucid Group (LCID) Lucid Air car of Lucid Automotive (LCID) Manufacturer at the event, EV Lucid Car Showroom. Source: Khosro / Shutterstock.com Lucid Group (NASDAQ: LCID ) stock performance has been dismal, with a downside of 61% in the last 12 months. Sentiments remain weak even after the big downside, and the short interest in the stock is currently at 25% of the free float. I believe the sell-off is overdone, and LCID stock is poised for a quick rally of 50%. The underlying concern for Lucid Group is cash burn through 2026 or 2027. That implies sustained dilution of equity. However, in the recent past, there have been some positives helping to reverse sentiments. First, Lucid announced the opening of its first-ever international car manufacturing facility in Saudi Arabia. The plant has a capacity of 155,000 electric vehicles (EVs) per year. That will likely contribute to delivery growth in 2024 and beyond. The company is also on track for an annual production guidance of 10,000 vehicles. The production of Lucid Gravity is expected in 2024, with deliveries planned for the following year. That will also contribute to delivery growth. Overall, some near-term positive news could trigger a rally from deeply oversold levels. ChargePoint Holdings (CHPT) A close-up of an orange ChargePoint (CHPT) station. Source: JL IMAGES / Shutterstock.com ChargePoint Holdings (NYSE: CHPT ) stock is another name on a sustained decline. After the big plunge, a 50% rally cannot be ruled out. It’s worth noting that CHPT stock has a short interest of 26% even after the big correction. Coming to the reasons for correction, sustained cash burn and intense industry competition are key headwinds. Further, ChargePoint announced a capital raise of $232 million. Dilution of equity is the reason for the recent downside. Story continues Having said that, ChargePoint indicated that adjusted EBITDA will likely be positive by Q4 2024. That is good news, and if EBITDA losses narrow in the coming quarters, the stock is likely to react positively. It’s worth adding here that I don’t see concerns from a revenue growth perspective. ChargePoint has a leading market position in North America and is already present in 16 European markets. With a big addressable market, top-line growth will remain robust. Marathon Digital Holdings (MARA) Macro view of miner working for bitcoins mine pool. Devices and technology for mining cryptocurrency. Mining cryptocurrency concept. MARA stock. Crypto mining. Source: Yev_1234 / Shutterstock It’s been a volatile year for Marathon Digital Holdings (NASDAQ: MARA ) stock. The volatility has been in sync with the movement of Bitcoin ( BTC-USD ). I believe Marathon has average fundamentals. If Bitcoin trends higher in the coming months, MARA stock could easily rally by 100%. Even with the recent correction, the short interest in the stock remains high at 28%. Regarding the business, Marathon has been aggressively ramping up Bitcoin mining capacity. To put things into perspective, the company reported an operational hash rate of 7 exahashes per second (EH/s) as of Q4 2022. With capacity addition, the hash rate increased to 17.7 EH/s as of Q3 2023. Once the current expansion is completed, the operational hash rate will swell to about 30 EH/s. That will position Marathon for robust revenue and cash flow growth in a scenario of Bitcoin surging higher. That seems likely with a Bitcoin halving due in 2024. Therefore, MARA stock seems poised for a massive rally and is among the short-squeeze stocks to watch. On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector. More From InvestorPlace The #1 AI Investment Might Be This Company You’ve Never Heard Of Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Short-Squeeze Stocks to Keep an Eye on in Q4 appeared first on InvestorPlace . View comments', 'Two of the people closest to Sam Bankman-Fried were asked the same question as they began their testimony this week: Did they commit financial crimes while they were working at FTX, the cryptocurrency exchange that crumbled last fall? Both Gary Wang and Caroline Ellison answered "Yes." While the finer points of cryptocurrencies, financial market trading and securities law can seem dizzying, the most striking moments in the first two weeks of Bankman-Fried\'s trial have been relatively simple. Here\'s a rundown of some of the key moments from the trial so far: The cocoa bean trader The government began its case not with an FTX insider but with a commodities broker named Marc-Antoine Julliard, who said he invested $100,000 with FTX. Julliard testified that he decided to buy digital currencies to diversify his investments and that he bought through FTX because it had attracted so much media coverage and because of the celebrities and investment funds involved with it. He said he didn\'t make any risky trades but lost almost all of his investment when FTX failed. Prosecutors called him to represent typical investors who, according to the government, lost money because Bankman-Fried and his co-workers fooled those investors and spent the money on themselves or gave it to lenders to Alameda Research, Bankman-Fried’s hedge fund. Bankman-Fried\'s lawyers argue that he didn’t defraud anyone, that startups like FTX are complex and often fail and that the government is looking for someone to blame for customers\' losses. A courtroom sketch of Sam Bankman-Fried sitting at the defense table during final jury selection (Elizabeth Williams / AP) Bankman-Fried, whose stake in FTX and Alameda Research was once estimated to be worth as much as $26 billion on paper, faces seven decades in jail on a series of federal charges related to oversight of the now-bankrupt firms. The former friend Adam Yedidia was a college friend of Bankman-Fried \'s at MIT and worked as a software engineer for FTX in 2021-22. He said that he informed Bankman-Fried in June 2022 that $8 billion in FTX customers\' cash was missing and that they later discussed the missing money in person. Story continues Adam Yedidia walks down the street as he leaves Manhattan Federal Court (Michael M. Santiago / Getty Images file) He said Bankman-Fried seemed unusually nervous during their conversation and acknowledged that FTX was vulnerable. Even so, Yedidia said, he trusted Bankman-Fried. In November, when the business was collapsing and people were leaving, he wrote to him on Signal: "I love you Sam. I\'m not going anywhere." Yedidia said that changed when he learned FTX customer deposits had been used to pay loans to Alameda\'s creditors, which he said was "flagrantly wrong." After that, he resigned. He was then asked why he lost faith in the company and quit. "FTX defrauded all its customers," Yedidia said.\xa0The answer was stricken from the court record. The co-founder Bankman-Fried appeared visibly upset at times during the testimony of FTX co-founder and technology chief Gary Wang. He looked at the ground at times and once put his head in his hands while Wang was on the stand. Gary Wang walks past photographers as exits the courthouse (Michael M. Santiago / Getty Images) Wang told the court about the days before Alameda and FTX failed. He said the firm\'s leaders considered shutting Alameda down but couldn\'t because it owed roughly $14 billion and had no way to pay it back. Asked about a tweet by Bankman-Fried that said, "Assets are fine," Wang said, "FTX was not fine, and assets were not fine." The star witness Alameda’s CEO, Caroline Ellison, Bankman-Fried\'s ex-girlfriend, said he told her to steal $10 billion from FTX’s customers and use it to repay firms that had lent money to Alameda. “Sam directed me to commit these crimes,” Ellison said near the beginning of several days of testimony. Caroline Ellison walks through a barricade blocking media journalists as she enters court (Stephanie Keith / Bloomberg via Getty Images) She also testified that Bankman-Fried instructed her to mislead lenders to make the firm\'s finances look better than they actually were —\xa0a way to stop those lenders from getting nervous and asking for their money back. Ellison\'s personal relationship with Bankman-Fried was discussed at times during her testimony. While Ellison was on the stand for three full days, the two appeared to avoid looking at each other throughout. Ellison broke down in tears after prosecutors shared messages in which she told Bankman-Fried that she was relieved that the truth about FTX and Alameda was finally coming out. Ellison, like Wang and another top FTX executive, Nishad Singh, have pleaded guilty to a series of fraud-related criminal charges and are cooperating with the prosecution in the hope of reducing their own prison sentences. The final days of FTX and Alameda Research Christian Drappi, a former software engineer for Alameda, testified about the final days before FTX and Alameda failed. He said Ellison told him that FTX had a "shortfall" of users\' funds because Alameda had been borrowing them. He said he was shocked to learn about that. While Drappi was on the stand, the prosecution played a recording of a company meeting led by Ellison. It was secretly taped by another employee, who gave it to Drappi. In the recording, Ellison tells employees that FTX doesn\'t have enough funds to give all of its users their money back and that it is trying to raise funds. Drappi says he\'s surprised because a firm would usually raise money to fund it operations, not to "fill a hole in a company’s balance sheet." He then asks Ellison whether the loan was collateralized in a standard way. She says it wasn\'t. "That seems pretty bad," he says. Drappi resigned from Alameda the next day. The ex-CEO The final witness of the week was Zac Prince. He\'s also the CEO of a crypto company that went under — not an exchange like FTX, where digital currencies like Bitcoin are traded, but a company that lent to other businesses in the industry. Prince\'s company, BlockFi, lent more than $1 billion to Alameda Research over a few years, and he said it always made payments on time. He said that he also saw Alameda\'s balance sheets every quarter and that, based on those, he thought the company was in very good shape. He said he didn\'t know Alameda was taking money from FTX or know about loans it made to insiders like Bankman-Fried, and he said he wouldn\'t have lent to Alameda had he known the true state of its finances. When the crypto market fell sharply in mid-2022, BlockFi was also hit hard. It struck a deal with FTX in which it borrowed from BlockFi, and it also had an option to buy it. It also made more loans to Alameda. Prince testified that BlockFi had $350 million on FTX late last year. He said it ultimately lost $1 billion when Alameda and FTX filed for bankruptcy and testified that it wouldn\'t have happened if Alameda had been able to pay back its loans. This article was originally published on NBCNews.com', 'Two of the people closest to Sam Bankman-Fried were asked the same question as they began their testimony this week: Did they commit financial crimes while they were working at FTX, the cryptocurrency exchange that crumbled last fall?\nBoth Gary Wang and Caroline Ellison answered "Yes."\nWhile the finer points of cryptocurrencies, financial market trading and securities law can seem dizzying, the most striking moments in the first two weeks of Bankman-Fried\'s trial have been relatively simple.\nHere\'s a rundown of some of the key moments from the trial so far:\nThe government began its case not with an FTX insider but witha commodities brokernamed Marc-Antoine Julliard, who said he invested $100,000 with FTX.\nJulliard testified that he decided to buy digital currencies to diversify his investments and that he bought through FTX because it had attracted so much media coverage and because of the celebrities and investment funds involved with it. He said he didn\'t make any risky trades but lost almost all of his investment when FTX failed.\nProsecutors called him to represent typical investors who, according to the government, lost money because Bankman-Fried and his co-workers fooled those investors and spent the money on themselves or gave it to lenders to Alameda Research, Bankman-Fried’s hedge fund.\nBankman-Fried\'s lawyers argue that he didn’t defraud anyone, that startups like FTX are complex and often fail and that the government is looking for someone to blame for customers\' losses.\nBankman-Fried, whose stake in FTX and Alameda Research was once estimated to be worth as much as $26 billion on paper,faces seven decades in jail on a series of federal chargesrelated to oversight of the now-bankrupt firms.\nAdam Yedidia was a college friend of Bankman-Fried\'sat MITand worked as a software engineer for FTX in 2021-22. He said that he informed Bankman-Fried in June 2022 that $8 billion in FTX customers\' cash was missing and that they later discussed the missing money in person.\nHe said Bankman-Fried seemed unusually nervous during their conversation and acknowledged that FTX was vulnerable.\nEven so, Yedidia said, he trusted Bankman-Fried. In November, when the business was collapsing and people were leaving, he wrote to him on Signal: "I love you Sam. I\'m not going anywhere."\nYedidia said that changed when he learned FTX customer deposits had been used to pay loans to Alameda\'s creditors, which he said was "flagrantly wrong." After that, he resigned.\nHe was then asked why he lost faith in the company and quit.\n"FTX defrauded all its customers," Yedidia said.\xa0The answer was stricken from the court record.\nBankman-Fried appeared visibly upset at times during the testimony of FTX co-founder and technology chief Gary Wang. He looked at the ground at times and once put his head in his hands while Wang was on the stand.\nWang told the court about the days before Alameda and FTX failed. He said the firm\'s leaders considered shutting Alameda down but couldn\'t because it owed roughly $14 billion and had no way to pay it back.\nAsked about a tweet by Bankman-Fried that said, "Assets are fine," Wang said, "FTX was not fine, and assets were not fine."\nAlameda’s CEO, Caroline Ellison, Bankman-Fried\'s ex-girlfriend, said hetold her to steal $10 billion from FTX’s customersand use it to repay firms that had lent money to Alameda.\n“Sam directed me to commit these crimes,” Ellison said near the beginning of several days of testimony.\nShe also testified that Bankman-Fried instructed her to mislead lenders to make the firm\'s finances look better than they actually were —\xa0a way to stop those lenders from getting nervous and asking for their money back.\nEllison\'s personal relationship with Bankman-Fried was discussed at times during her testimony. While Ellison was on the stand for three full days, the two appeared to avoid looking at each other throughout.\nEllison broke down in tears after prosecutors shared messages in which she told Bankman-Fried that she was relieved that the truth about FTX and Alameda was finally coming out.\nEllison, like Wang and another top FTX executive, Nishad Singh, have pleaded guilty to a series of fraud-related criminal charges and are cooperating with the prosecution in the hope of reducing their own prison sentences.\nChristian Drappi, a former software engineer for Alameda, testified about the final days before FTX and Alameda failed. He said Ellison told him that FTX had a "shortfall" of users\' funds because Alameda had been borrowing them. He said he was shocked to learn about that.\nWhile Drappi was on the stand, the prosecution played a recording of a company meeting led by Ellison. It was secretly taped by another employee, who gave it to Drappi.\nIn the recording, Ellison tells employees that FTX doesn\'t have enough funds to give all of its users their money back and that it is trying to raise funds. Drappi says he\'s surprised because a firm would usually raise money to fund it operations, not to "fill a hole in a company’s balance sheet."\nHe then asks Ellison whether the loan was collateralized in a standard way. She says it wasn\'t.\n"That seems pretty bad," he says.\nDrappi resigned from Alameda the next day.\nThe final witness of the week was Zac Prince. He\'s also the CEO of a crypto company that went under — not an exchange like FTX, where digital currencies like Bitcoin are traded, but a company that lent to other businesses in the industry.\nPrince\'s company, BlockFi, lent more than $1 billion to Alameda Research over a few years, and he said it always made payments on time. He said that he also saw Alameda\'s balance sheets every quarter and that, based on those, he thought the company was in very good shape.\nHe said he didn\'t know Alameda was taking money from FTX or know about loans it made to insiders like Bankman-Fried, and he said he wouldn\'t have lent to Alameda had he known the true state of its finances.\nWhen the crypto market fell sharply in mid-2022, BlockFi was also hit hard. It struck a deal with FTX in which it borrowed from BlockFi, and it also had an option to buy it. It also made more loans to Alameda.\nPrince testified that BlockFi had $350 million on FTX late last year. He said it ultimately lost $1 billion when Alameda and FTX filed for bankruptcy and testified that it wouldn\'t have happened if Alameda had been able to pay back its loans.\nThis article was originally published onNBCNews.com']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-14
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $525,203,833,875
- Hash Rate: 416022273.9294035
- Transaction Count: 265220.0
- Unique Addresses: 612783.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.47
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Raj Chowdhury, the CEO of HashCash, believes that cryptocurrency can pave the way for a world without limitations. He maintains a positive outlook on the capabilities of cryptocurrencies to surpass conventional boundaries and enable individuals worldwide. PALO ALTO, Calif. , Oct. 10, 2023 /PRNewswire-PRWeb/ -- The recent years have seen a remarkable growth of cryptocurrencies . A growing number of people now acknowledge its potential as a global currency. As we progress towards a more digital world, the concept of having a universal currency is gaining more traction. Despite the regulatory challenges and the market's volatility, cryptos have the potential to become the sole currency worldwide. With further advancements and widespread adoption, we can envision a future where transactions are borderless. Among many, HashCash Consultants CEO Raj Chowdhury believes that crypto has the potential to create a borderless world. New digital forms of currency hold the potential to transform the financial sector. They offer rapid and cost-effective payment options, enhance financial inclusion, and simplify cross-border transfers. Nonetheless, adopting these currencies involves intricate policy decisions and substantial investment. While some countries may contemplate introducing cryptoassets as their national currencies, the drawbacks and expenses usually surpass the advantages. Unlike central bank-issued digital currencies and stablecoins, cryptoassets are volatile and privately issued tokens. In addition to cryptoassets, private businesses are delving into novel avenues of digital money like mobile-based money transfers. CEO of HashCash Consultants and Bitcoin Maximalist, Raj Chowdhury asserts, "In the ongoing battle between humanity and technology, it is often the latter that emerges victorious. A perfect example is the advent of cryptocurrency , which has the capacity to usher in a world free of geographic and financial limitations." Story continues The adoption of cryptocurrencies as legal tender worldwide could streamline cross-border transactions, travel, and shopping. Nevertheless, it may make a significant percentage of financial service providers redundant. Conversely, fiat currencies give countries the ability to manage their economy by adjusting interest rates according to their needs. A universal cryptocurrency , however, would eliminate this leverage, leaving countries with minimal scope to enhance their economy or increase the value of their fiat currencies. Nonetheless, it could also potentially bring an end to ongoing conflicts between nations and promote global equality. "As we progress towards a more digitally-driven future, the concept of a global currency becomes increasingly viable, and I firmly assert that cryptocurrencies will serve as a crucial tool in realizing this objective," concluded Chowdhury. The US-based blockchain development company HashCash Consultants has developed several products and offered services to over 26 countries. Products such as crypto payment processors , and white-label crypto exchange platforms are trending among retailers in the US and other countries. HashCash was recently listed as the top blockchain development company by a global research firm. In summary, although the extensive use of digital currencies could pose some advantages and drawbacks, it has the extraordinary capacity to establish a world free of limits. This world would eradicate the obstacles of financial transactions and encourage equality worldwide. About Raj Chowdhury: Raj Chowdhury is the Managing Director of HashCash Consultants and Paybito . Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to the Economic Times, Business World, and CNNMoney and advises industry leaders in the adoption of Blockchain. He is a member of Asha Silicon Valley, a nonprofit committed to education for children in emerging countries. Author of the book 'The Dark Secret of the Silicon Valley', Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community. Media Contact Coleen Facete, Hashcash Digest, +14159662907, [email protected] Cision View original content to download multimedia: https://www.prweb.com/releases/hashcash-ceo-raj-chowdhury-is-optimistic-about-the-potential-of-cryptocurrency-to-create-a-world-without-boundaries-301951074.html SOURCE Hashcash Digest...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Are you tired of working the same job you’ve sworn to quit countless times? You might be stuck in a rut — and your more successful friends have noticed. You might envy their Saturday morning hikes and large retirement accounts, but it might simply be a result ofnot approaching problems or opportunities like they do.\nI’m a Financial Planning Expert:Here Are 5 Things You Should Never Spend Money on If You Want To Be RichSee:How To Build Your Savings From Scratch\nIf you’re wondering what your successful friends are thinking about the way you manage work and money, take a seat because here is what they’re not telling you.\nYou know that friend you’re always hitting up for money? Well, that friend thinks you’d really benefit from a budget. Fortunately, making one just takes a little commitment.\n“Find an app or system that works well for you, such as Mint, You Need A Budget or just an Excel spreadsheet,” said Kate Holmes, a certified financial planner and Belmore Financial founder. “Import the last few months of all checking, debit and credit card transactions, and see where things are at. You’ll likely be surprised by some of the category totals.”\nHolmes encourages you to consider how much happiness each budget item brings you, as means of tracking down unnecessary expenses. Here’s a breakdown she recommends:\n• 50% of your take-home pay for food, housing and necessities\n• 30% for discretionary spending\n• 20% for paying off debt and building savings\n‘Automatic Millionaire’ Author David Bach:These Are the 2 ‘Primary Escalators to Wealth’Read More:Suze Orman’s Top 26 Tips That Will Save You From Financial Disaster\nBad news for those dreaming of retirement: Most of us won’t be retiring in style if we rely solely on Social Security benefits. In 2023, the average monthly Social Security check is just $1,751 for retirees. So, what can you do to prevent tarnished golden years?\nUtilize your workplace retirement plan and take advantage of your employer’s matching program, said consumer finance expert Kevin Gallegos, vice president of Phoenix operations for Freedom Financial Network. Gallegos recommends saving 10% to 15% of your gross pay for retirement. If you can’t swing that, just start with what’s manageable for you.\nMore Tips:Mark Cuban Says This Is the No. 1 Thing To Do To Build Wealth\nThe financially savvy see credit cards as a convenience, not a debit account. A GOBankingRates survey found that 50% of Americans have credit card debt. If you carry a high balance month to month and have high interest rates, you’re paying a premium for the same purchases your debt-free friends make.\nDodge debt and avoid using credit cards except in emergencies. “Few, if any, investments will return as much,” Gallegos said. “Having no credit card debt provides a financial cushion itself.” If you’re having trouble doing this, you can consider some ways to avoid or get out of credit card debt.\nChances are you think you can’t invest because you don’t have the money. But what if you don’t have the money because you don’t invest?\nPassive income is a key differentiating factor between financial struggles and financial success, and investments like penny stocks or Bitcoin alternatives don’t have to break the bank. As a Cardan Capital financial advisor told U.S. News and World Report, “This allows (you) to generate income or grow assets even when (you) are not sitting in the office.”\nIf speculation isn’t your game and entrepreneurship isn’t your bag, invest what you can in small business — either way, investing makes your money work for you.\nEvery single purchase you make has two costs: the price you pay for the product or service and what you give up when you make that purchase. Folks in finance call the latter the “opportunity cost.” You bought the shoes, so now you can’t afford that contribution to your IRA.\nBillionaire investor Warren Buffett often quotes his partner and self-made billionaire, Charles Munger, when speaking about opportunity costs, calling them “mistakes of omission.” In regrettable moments, the duo didn’t invest in something when they should have or weren’t able to because their money was tied up elsewhere. Like those shoes, the mistake lies in the opportunity omitted when you don’t consider the opportunity cost.\nI’m a Financial Advisor Who Works With Wealthy Families:These Are the Best Ways To Transfer Wealth\nSelf-made millionaires don’t have all those commas in their bank account balances based solely on their own genius — they had the good sense to seek out help from financial planners and money managers. As former BlueShore Financial advisor Steven Batie said, “The first step in developing your financial plan is to meet with an advisor,” citing potential improvements in everything from cash flow to investments to financial understanding.\nDon’t understand disintermediation or the efficient frontier concept? Join the club. That’s exactly why we need a pro on our side.\nWhen that coveted paycheck comes in, it’s a whole lot more tempting to splurge on venti lattes or video games than it is to squirrel away savings.\nInstead, automate your financial security. Sit down with your company’s HR department and request that a percentage of every single check goes straight toward your savings or investments. Like bestselling financial author David Bach wrote in “The Automatic Millionaire,” “The truth is, you’re too busy to spend all day thinking of wealth building. You need a system that works while you sleep — a system that is automated.”\nAccording to Business Insider, Warren Buffett still lives in the home he bought for $31,500 in 1958, Mark Zuckerberg has long driven an affordable Volkswagen and Ikea founder Ingvar Kamprad often took the bus to work. Their net worths range from about $40 billion to $117 billion, so if money isn’t the reason for these cutbacks, what is?\nSimple frugality. Some of the richest people on earth recognize that living below your means is essential to financial sustainability. Take Bill Gates, for instance, who famously said, “I can understand wanting to have millions of dollars, there’s a certain freedom, meaningful freedom, that comes with that. But once you get much beyond that, I have to tell you, it’s the same hamburger.”\nFind Out:What Income Level Is Considered Middle Class in Your State?\nIf you weren’t born rich, you have to work much harder for your earnings and adopt a strong, steadfast attitude that translates into wealth.\n“Look at every successful person across a wide spectrum of industries and activities,” said award-winning marketing advisor John Mulry. “All had their obstacles, demons and downfalls, but their desire to succeed and ability to overcome was greater than anything else. They were willing to stop at nothing to achieve.”\nMost friends won’t tell you that you’re a quitter. That means it’s totally up to you to make the hard call, and that is something only winners do.\nJust about everyone loves a Frappuccino in the morning and Chipotle with colleagues in the afternoon. Meanwhile, your brown-bagging coworker secretly knows that you’ve just wasted $25.\nIn a major metro city, buying a grande Frappuccino at Starbucks five days a week will set you back around $1,500 per year. But back at home, it costs as little as 27 cents to brew a cup of coffee yourself — that’s an annual saving of more than $1,400.\nRethinking your Frappuccino yet?\nSo you’ve got a buddy who runs marathons, climbs mountains and made $1 million before she turned 30. The first thing she’d tell you is that you need a clear goal to accomplish anything and properly manage your money.\n“It’s very hard to get where you’re going without knowing where you want to go,” Gallegos said. “Similarly, it’s very hard to save without setting goals. Those goals might include retirement, a vacation, a new piece of furniture, a child’s education or time to train for a marathon.”\nWhatever your financial goals, write them down and then budget for them. If you get stuck, call that friend who climbs mountains for advice.\nRead More:Money Expert Jaspreet Singh Says ‘Becoming Wealthy Is Surprisingly Simple’ — Here’s Why\nLife has a nasty habit of throwing curveballs in the form of emergency car repairs and unexpected medical bills, among other unwanted surprises. When you’re suddenly treading financial water, your friends are looking on from the life raft and lamenting your lack of financial foresight.\nInstead of drowning in new debt, listen to Kate Holmes: Whether it’s a job layoff or worse, you want to ensure you can cover all necessary expenses for three to six months.\nThis is a tough one (and there might be exceptions just for basic human empathy), but successful people didn’t get to the top by lending people money. LSS Financial Counseling program director Elaina Johannessen lays out it plainly, writing, “We give to others because (it) feels good. It might be difficult to say ‘no,’ but in the end, you have to do what’s best for you and your family.”\nJohannessen advises friendly lenders to consider the risks and opportunity costs of lending and to refer struggling friends to resources like local county offices or charitable organizations whenever possible.\nYou know your frugal friend with the iPhone 8, Old Navy jeans and bulky TV? He’s silently shaking his head at your iPhone 14, Dolce and Gabbana denim and massive smart TV. When it comes to impulse buys, trust your gut — you know when you’re being indulgent.\nAnother great trick to curb spending, Gallegos said, is to pay with cash. This tip makes spending much less convenient while giving you a very real feel for how much you are truly dishing out. Gallegos cited research noting that people who pay with cash instead of credit or debit cards typically spend 15% to 20% less.\nCut More Costs:Unplug These Appliances That Hike Up Your Electricity Bill\nUltimately, patience and planning are two of the most crucial habits of rich people. Consistently managing your finances, saving and investing won’t immediately fill your bank account; they’ll expand your balance slowly and steadily over time, like the tortoise who eventually wins the race.\nIf you didn’t start taking advantage of compound interest when you were 18, don’t give up. Start saving, investing and planning now. As the bestselling author, Ramsey Solutions founder and national financial radio show host Dave Ramsey reminds us, “Get rich quick doesn’t work. Crockpot mentality always defeats microwave mentality.”\nMore From GOBankingRates\n• 5 Expensive Renovations Homeowners AlwaysRegret\n• Which Bank Gives 6% Interest on Savings Accounts?\n• 3 Things You Must Do When Your Savings Reach $50,000\n• How Many Points Will a Credit Builder Raise My Credit Score?\nThis article originally appeared onGOBankingRates.com:15 Money Truths Your Successful Friends Won’t Tell You', 'jacoblund / Getty Images/iStockphoto Are you tired of working the same job you’ve sworn to quit countless times? You might be stuck in a rut — and your more successful friends have noticed. You might envy their Saturday morning hikes and large retirement accounts, but it might simply be a result of not approaching problems or opportunities like they do . I’m a Financial Planning Expert: Here Are 5 Things You Should Never Spend Money on If You Want To Be Rich See: How To Build Your Savings From Scratch If you’re wondering what your successful friends are thinking about the way you manage work and money, take a seat because here is what they’re not telling you. Eva-Katalin / Getty Images You Need To Budget You know that friend you’re always hitting up for money? Well, that friend thinks you’d really benefit from a budget. Fortunately, making one just takes a little commitment. “Find an app or system that works well for you, such as Mint, You Need A Budget or just an Excel spreadsheet,” said Kate Holmes, a certified financial planner and Belmore Financial founder. “Import the last few months of all checking, debit and credit card transactions, and see where things are at. You’ll likely be surprised by some of the category totals.” Holmes encourages you to consider how much happiness each budget item brings you, as means of tracking down unnecessary expenses. Here’s a breakdown she recommends: 50% of your take-home pay for food, housing and necessities 30% for discretionary spending 20% for paying off debt and building savings ‘Automatic Millionaire’ Author David Bach: These Are the 2 ‘Primary Escalators to Wealth’ Read More: Suze Orman’s Top 26 Tips That Will Save You From Financial Disaster Sayan Puangkham / Shutterstock.com You Don’t Save Enough Bad news for those dreaming of retirement: Most of us won’t be retiring in style if we rely solely on Social Security benefits. In 2023, the average monthly Social Security check is just $1,751 for retirees. So, what can you do to prevent tarnished golden years? Utilize your workplace retirement plan and take advantage of your employer’s matching program, said consumer finance expert Kevin Gallegos, vice president of Phoenix operations for Freedom Financial Network. Gallegos recommends saving 10% to 15% of your gross pay for retirement. If you can’t swing that, just start with what’s manageable for you. Story continues More Tips: Mark Cuban Says This Is the No. 1 Thing To Do To Build Wealth nenetus / Shutterstock.com You Have Too Much Credit Card Debt The financially savvy see credit cards as a convenience, not a debit account. A GOBankingRates survey found that 50% of Americans have credit card debt. If you carry a high balance month to month and have high interest rates, you’re paying a premium for the same purchases your debt-free friends make. Dodge debt and avoid using credit cards except in emergencies. “Few, if any, investments will return as much,” Gallegos said. “Having no credit card debt provides a financial cushion itself.” If you’re having trouble doing this, you can consider some ways to avoid or get out of credit card debt. Stock-Asso / Shutterstock.com You Don’t Invest Chances are you think you can’t invest because you don’t have the money. But what if you don’t have the money because you don’t invest? Passive income is a key differentiating factor between financial struggles and financial success, and investments like penny stocks or Bitcoin alternatives don’t have to break the bank. As a Cardan Capital financial advisor told U.S. News and World Report, “This allows (you) to generate income or grow assets even when (you) are not sitting in the office.” If speculation isn’t your game and entrepreneurship isn’t your bag, invest what you can in small business — either way, investing makes your money work for you. Jacob Lund / Shutterstock.com You Never Consider the Opportunity Cost Every single purchase you make has two costs: the price you pay for the product or service and what you give up when you make that purchase. Folks in finance call the latter the “opportunity cost.” You bought the shoes, so now you can’t afford that contribution to your IRA. Billionaire investor Warren Buffett often quotes his partner and self-made billionaire, Charles Munger, when speaking about opportunity costs, calling them “mistakes of omission.” In regrettable moments, the duo didn’t invest in something when they should have or weren’t able to because their money was tied up elsewhere. Like those shoes, the mistake lies in the opportunity omitted when you don’t consider the opportunity cost. I’m a Financial Advisor Who Works With Wealthy Families: These Are the Best Ways To Transfer Wealth GaudiLab / Shutterstock.com You Don’t Solicit Financial Advice Self-made millionaires don’t have all those commas in their bank account balances based solely on their own genius — they had the good sense to seek out help from financial planners and money managers. As former BlueShore Financial advisor Steven Batie said, “The first step in developing your financial plan is to meet with an advisor,” citing potential improvements in everything from cash flow to investments to financial understanding. Don’t understand disintermediation or the efficient frontier concept? Join the club. That’s exactly why we need a pro on our side. sanjeri / Getty Images You’re Still Driving Manual When that coveted paycheck comes in, it’s a whole lot more tempting to splurge on venti lattes or video games than it is to squirrel away savings. Instead, automate your financial security. Sit down with your company’s HR department and request that a percentage of every single check goes straight toward your savings or investments. Like bestselling financial author David Bach wrote in “The Automatic Millionaire,” “The truth is, you’re too busy to spend all day thinking of wealth building. You need a system that works while you sleep — a system that is automated.” courtneyk / Getty Images You Live Above Your Means According to Business Insider, Warren Buffett still lives in the home he bought for $31,500 in 1958, Mark Zuckerberg has long driven an affordable Volkswagen and Ikea founder Ingvar Kamprad often took the bus to work. Their net worths range from about $40 billion to $117 billion, so if money isn’t the reason for these cutbacks, what is? Simple frugality. Some of the richest people on earth recognize that living below your means is essential to financial sustainability. Take Bill Gates, for instance, who famously said, “I can understand wanting to have millions of dollars, there’s a certain freedom, meaningful freedom, that comes with that. But once you get much beyond that, I have to tell you, it’s the same hamburger.” Find Out: What Income Level Is Considered Middle Class in Your State? Syda Productions / Shutterstock.com You Give Up Too Easily If you weren’t born rich, you have to work much harder for your earnings and adopt a strong, steadfast attitude that translates into wealth. “Look at every successful person across a wide spectrum of industries and activities,” said award-winning marketing advisor John Mulry. “All had their obstacles, demons and downfalls, but their desire to succeed and ability to overcome was greater than anything else. They were willing to stop at nothing to achieve.” Most friends won’t tell you that you’re a quitter. That means it’s totally up to you to make the hard call, and that is something only winners do. Rawpixel / Shutterstock.com You Eat Out Too Often Just about everyone loves a Frappuccino in the morning and Chipotle with colleagues in the afternoon. Meanwhile, your brown-bagging coworker secretly knows that you’ve just wasted $25. In a major metro city, buying a grande Frappuccino at Starbucks five days a week will set you back around $1,500 per year. But back at home, it costs as little as 27 cents to brew a cup of coffee yourself — that’s an annual saving of more than $1,400. Rethinking your Frappuccino yet? Jack Frog / Shutterstock.com You Don’t Have a Clear Financial Goal So you’ve got a buddy who runs marathons, climbs mountains and made $1 million before she turned 30. The first thing she’d tell you is that you need a clear goal to accomplish anything and properly manage your money. “It’s very hard to get where you’re going without knowing where you want to go,” Gallegos said. “Similarly, it’s very hard to save without setting goals. Those goals might include retirement, a vacation, a new piece of furniture, a child’s education or time to train for a marathon.” Whatever your financial goals, write them down and then budget for them. If you get stuck, call that friend who climbs mountains for advice. Read More: Money Expert Jaspreet Singh Says ‘Becoming Wealthy Is Surprisingly Simple’ — Here’s Why Monkey Business Images / Shutterstock.com You Need an Emergency Fund Life has a nasty habit of throwing curveballs in the form of emergency car repairs and unexpected medical bills, among other unwanted surprises. When you’re suddenly treading financial water, your friends are looking on from the life raft and lamenting your lack of financial foresight. Instead of drowning in new debt, listen to Kate Holmes: Whether it’s a job layoff or worse, you want to ensure you can cover all necessary expenses for three to six months. Eviart / Shutterstock.com You’re Being Too Nice This is a tough one (and there might be exceptions just for basic human empathy), but successful people didn’t get to the top by lending people money. LSS Financial Counseling program director Elaina Johannessen lays out it plainly, writing, “We give to others because (it) feels good. It might be difficult to say ‘no,’ but in the end, you have to do what’s best for you and your family.” Johannessen advises friendly lenders to consider the risks and opportunity costs of lending and to refer struggling friends to resources like local county offices or charitable organizations whenever possible. ©Apple You Spend Too Much on Trends You know your frugal friend with the iPhone 8, Old Navy jeans and bulky TV? He’s silently shaking his head at your iPhone 14, Dolce and Gabbana denim and massive smart TV. When it comes to impulse buys, trust your gut — you know when you’re being indulgent. Another great trick to curb spending, Gallegos said, is to pay with cash. This tip makes spending much less convenient while giving you a very real feel for how much you are truly dishing out. Gallegos cited research noting that people who pay with cash instead of credit or debit cards typically spend 15% to 20% less. Cut More Costs: Unplug These Appliances That Hike Up Your Electricity Bill Tatyana Dzemileva / Shutterstock.com You’re Procrastinating Ultimately, patience and planning are two of the most crucial habits of rich people. Consistently managing your finances, saving and investing won’t immediately fill your bank account; they’ll expand your balance slowly and steadily over time, like the tortoise who eventually wins the race. If you didn’t start taking advantage of compound interest when you were 18, don’t give up. Start saving, investing and planning now. As the bestselling author, Ramsey Solutions founder and national financial radio show host Dave Ramsey reminds us, “Get rich quick doesn’t work. Crockpot mentality always defeats microwave mentality.” More From GOBankingRates 5 Expensive Renovations Homeowners Always R egret Which Bank Gives 6% Interest on Savings Accounts? 3 Things You Must Do When Your Savings Reach $50,000 How Many Points Will a Credit Builder Raise My Credit Score? This article originally appeared on GOBankingRates.com : 15 Money Truths Your Successful Friends Won’t Tell You']...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-15
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $524,970,840,262
- Hash Rate: 475861094.152126
- Transaction Count: 251923.0
- Unique Addresses: 571061.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.45
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: In August, the cryptocurrency market experienced a dramatic shift in momentum. Bitcoin, the flagship cryptocurrency, faced a significant setback as its price plunged below the $25,000 mark. This drop marked its lowest level since mid-June, highlighting the persistent volatility that has gripped crypto markets.
Bitcoin had shown resilience earlier in the year, staging a notable turnaround from its 2022 lows and trading above $31,500 in early July. However, late July marked a turning point, and August proved to be a challenging month for Bitcoin, with its value plummeting by nearly 10%.
As September began, Bitcoin continued to face a rocky path, struggling to surpass the psychological level of $26,000. The looming Federal Reserve meeting further intensified market uncertainty, leaving investors and analysts eager to understand what lies ahead for Bitcoin in September.
The beginning of September has been marked by ongoing turbulence in the cryptocurrency market. Bitcoin's price has been notably volatile, with fluctuations making it challenging to regain its footing and surpass the psychological barrier of $26,000. At the time of writing, the currency is trading at around $25,730-level.
Historically, Bitcoin's performance has exhibited a close correlation with that of the tech-heavy Nasdaq 100 stock index. This connection arises from the perception of both tech stocks and cryptocurrencies as risky assets. Consequently, investors often respond to market conditions in a similar manner when determining their investment strategies.
Despite the recent lows, there are several encouraging signs for those who maintain faith in Bitcoin's potential. One of the most significant developments of 2023 for the Bitcoin ecosystem was the legal victory in the U.S. Court of Appeals for the D.C. Circuit, involving Grayscale and the U.S. Securities and Exchange Commission (SEC) in late August (read: 5 Favorable Events Bitcoin Had in 2023: ETFs in Focus).
The court sided with Grayscale in its lawsuit against the SEC's denial of the company's application to convert the Grayscale Bitcoin Trust into an ETF. In past few weeks, we have seen the filing of spot ETF applications by renowned asset managers like Blackrock, WisdomTree and Invesco.
August saw benchmark U.S. Treasury yields hit a high of 4.34%. However, it subsequently receded to 4.30% as of Sep 6. These fluctuations are closely tied to the Federal Reserve's series of interest rate hikes, which have contributed to a sharp decline in inflation over the past year. Nevertheless, inflation remains considerably higher than the Fed's target of 2%, prompting speculation about further rate hikes and putting pressure on bond yields.
Recent economic data releases have indicated a cooling labor market, raising hopes that the Federal Reserve may decide to maintain interest rates at their current levels during its September meeting. The CME FedWatch Tool reflects this sentiment, with approximately 93% of market participants (up from 85% one-month ago) confident that the Fed will pause its interest rate hikes in September.
The prospect of the Fed maintaining interest rates at their current levels bodes well for high-risk assets, including cryptocurrencies. Additionally, the growing interest in cryptocurrencies among financial giants is expected to exert upward pressure on the prices of Bitcoin and other digital currencies in the near future. This burgeoning interest underscores the potential for cryptocurrencies to play a more significant role in the global financial landscape.
Against this backdrop, following are the regular ETFs on this concept that may win in the near term.
VanEck Digital Transformation ETF DAPP – Up 130.0% YTD
Bitwise Crypto Industry Innovators ETF BITQ – Up 115.3% YTD
Global X Blockchain ETF BKCH – Up 105.7% YTD
iShares Blockchain and Tech ETF IBLC – Up 85% YTD
Global X Blockchain & Bitcoin Strategy ETF BITS – Up 78.8%
Fidelity Crypto Industry and Digital Payments ETF FDIG – Up 72.7% YTD
(Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.)
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Global X Blockchain ETF (BKCH): ETF Research Reports
VanEck Digital Transformation ETF (DAPP): ETF Research Reports
Bitwise Crypto Industry Innovators ETF (BITQ): ETF Research Reports
Global X Blockchain & Bitcoin Strategy ETF (BITS): ETF Research Reports
Fidelity Crypto Industry and Digital Payments ETF (FDIG): ETF Research Reports
iShares Blockchain and Tech ETF (IBLC): ETF Research Reports
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- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['The widely tracked crypto market indicator " GBTC discount " narrowed to its lowest in 22 months on Friday, signaling increased optimism that Grayscale will be able to convert its close-ended bitcoin trust into an open-ended spot-based exchange-traded fund (ETF). On Friday, shares in Grayscale Bitcoin Trust (GBTC) traded at a discount of 15.87% to the trust\'s net asset value, reaching the level last seen in December 2021, according to YCharts. The discount has been steadily narrowing since reaching a record low of nearly 50% during the height of the bear market in December last year. The latest improvement came as the U.S. Securities and Exchange Commission (SEC) decided not to appeal against the D.C. Circuit Court of Appeals\' August verdict to set aside the regulator\'s decision to reject Grayscale\'s attempts to convert its trust into an ETF. The SEC had until Friday midnight to challenge the decision. Grasycale and CoinDesk are part of the Digital Currency Group. The SEC could now come up with new reasons to reject Grayscale\'s bid to cover its trust into an ETF or request an en banc appeal. That said, the probability appears low, considering the regulator has been actively engaging with other spot-ETF applications. "As far as I know, the SEC did not appeal, which means it now has to reconsider its ruling. It could deny again for different reasons - but the agency is reportedly engaging with other potential issuers, which is unusual. It is starting to feel like it is getting ready to let them list," Noelle Acheson, author of the popular Crypto Is Macro Now newsletter, said in the weekend edition. Nate Geraci, president of the ETF Store, voiced a similar opinion on X last week, saying the lack of appeal would mean a potential spot ETF launch in January 2024, with Grayscale probably taking the lead over other issuers. On June 15, the world\x92s largest fund manager and traditional finance heavyweight, BlackRock filed for a spot bitcoin ETF with the SEC, with Fidelity, Invesco, Valkyrie Investments, WisdomTree, and VanEck following BlackRock\'s lead in the subsequent days. A potential approval of a spot-based ETF is widely expected to unlock floodgates to billions of dollars in mainstream money, although Coinbase Institutional expects the flows to materialize over time.', 'The widely tracked crypto market indicator "GBTC discount" narrowed to its lowest in 22 months on Friday, signaling increased optimism that Grayscale will be able to convert its close-ended bitcoin trust into an open-ended spot-based exchange-traded fund (ETF).\nOn Friday, shares in Grayscale Bitcoin Trust (GBTC) traded at a discount of 15.87% to the trust\'s net asset value, reaching the level last seen in December 2021,according toYCharts. The discount has beensteadily narrowingsince reaching a record low of nearly 50% during the height of the bear market in December last year.\nThe latest improvement came as the U.S. Securities and Exchange Commission (SEC) decided not to appeal against the D.C. Circuit Court of Appeals\' August verdict to set aside the regulator\'s decision to reject Grayscale\'s attempts to convert its trust into an ETF. The SEC had until Friday midnight to challenge the decision.\nGrasycale and CoinDesk are part of the Digital Currency Group.\nTheSEC couldnow come up with new reasons to reject Grayscale\'s bid to cover its trust into an ETF or request an en banc appeal. That said, the probability appears low, considering the regulator has been actively engaging with other spot-ETF applications.\n"As far as I know, the SEC did not appeal, which means it now has to reconsider its ruling. It could deny again for different reasons - but the agency isreportedly engagingwith other potential issuers, which is unusual. It is starting to feel like it is getting ready to let them list," Noelle Acheson, author of the popular Crypto Is Macro Now newsletter, said in the weekend edition.\nNate Geraci, president of the ETF Store,voiceda similar opinion on X last week, saying the lack of appeal would mean a potential spot ETF launch in January 2024, withGrayscale probablytaking the lead over other issuers.\nOn June 15, the world’s largest fund manager and traditional finance heavyweight,BlackRockfiled for a spot bitcoinETFwith the SEC, with Fidelity, Invesco, Valkyrie Investments, WisdomTree, and VanEck following BlackRock\'s lead in the subsequent days.\nA potential approval of a spot-based ETF is widely expected to unlock floodgates to billions of dollars in mainstream money, although Coinbase Institutionalexpectsthe flows to materialize over time.', 'Australia plans to release a draft bill that covers the licensing and custody rules of cryptocurrency service providers by 2024, according to a consultation paper published by the Australian Treasury on Monday. See related article: Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict Fast Facts The new regime will require crypto exchanges to obtain an Australian financial services license if any one client has held at least AU$1,500 (US$946) at any time, or if the platform’s total assets ever exceeded AU$5 million (US$3.15 million). “[This] approach creates ample opportunities for the regulation to ignore the nuances of the technology (for example, unique services like NFTs),” said Jonathon Miller, managing director of Kraken Australia . “I’m hopeful that we can work collaboratively with the Government to make sure we don’t snuff out the benefits of future innovations in crypto that might fall outside the conventional ‘financial services’ box.” The treasury seeks to receive feedback on the draft bill by December 1, 2023. Crypto exchanges will have 12 months to earn licenses and become compliant with the new regime after enactment. See related article: Digital frontiers: Alex Tapscott on Web3, AI, and banking’s new dance View comments', 'Australia plans to release a draft bill that covers the licensing and custody rules of cryptocurrency service providers by 2024, according to a consultation paper published by the Australian Treasury on Monday.\nSee related article:Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict\n• The new regime will require crypto exchanges to obtain an Australian financial services license if any one client has held at least AU$1,500 (US$946) at any time, or if the platform’s total assets ever exceeded AU$5 million (US$3.15 million).\n• “[This] approach creates ample opportunities for the regulation to ignore the nuances of the technology (for example, unique services like NFTs),” said Jonathon Miller, managing director of Kraken Australia.“I’m hopeful that we can work collaboratively with the Government to make sure we don’t snuff out the benefits of future innovations in crypto that might fall outside the conventional ‘financial services’ box.”\n• The treasury seeks to receive feedback on the draft bill by December 1, 2023.\n• Crypto exchanges will have 12 months to earn licenses and become compliant with the new regime after enactment.\nSee related article:Digital frontiers: Alex Tapscott on Web3, AI, and banking’s new dance', 'South Korea-based Upbit cryptocurrency exchange’s Singapore unit said on Monday that it received an in-principal approval for the Monetary Authority of Singapore’s (MAS) major payment institution license. See related article: Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict Fast Facts The in-principal approval allows Upbit to legally offer digital asset services in the country until the central bank gives its final approval. Upbit is South Korea’s largest cryptocurrency exchange and is operated by one of the nation’s most valued startups, Dunamu. Upbit Singapore’s in-principal license further expands Dunamu’s Asia Pacific presence. The exchange claims to have legal branches in Indonesia and Thailand. Singapore’s major payment institution license permits institutions to offer payment services without adherence to the standard transaction volume. Typically, providers are constrained by a SG$3 million (US$2.2 million) limit for monthly transactions per service, and SG$6 million for multiple services, with a daily outstanding e-money cap of SG$5 million, according to the MAS . Coinbase , the largest U.S. exchange, received a major payment institution license from Singapore’s central bank at the beginning of October, a year after it was awarded an in-principal approval. There are currently 15 fully licensed digital payment token service providers in Singapore, according to the central bank’s website . See related article: Digital frontiers: Alex Tapscott on Web3, AI, and banking’s new dance', 'South Korea-based Upbit cryptocurrency exchange’s Singapore unit said on Monday that it received an in-principal approval for the Monetary Authority of Singapore’s (MAS) major payment institution license.\nSee related article:Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict\n• The in-principal approval allows Upbit to legally offer digital asset services in the country until the central bank gives its final approval.\n• Upbit is South Korea’s largest cryptocurrency exchange and is operated by one of the nation’s most valued startups, Dunamu.\n• Upbit Singapore’s in-principal license further expands Dunamu’s Asia Pacific presence. The exchange claims to have legal branches in Indonesia and Thailand.\n• Singapore’s major payment institution license permits institutions to offer payment services without adherence to the standard transaction volume. Typically, providers are constrained by a SG$3 million (US$2.2 million) limit for monthly transactions per service, and SG$6 million for multiple services, with a daily outstanding e-money cap of SG$5 million, according to theMAS.\n• Coinbase, the largest U.S. exchange, received a major payment institution license from Singapore’s central bank at the beginning of October, a year after it was awarded an in-principal approval. There are currently 15 fully licensed digital payment token service providers in Singapore, according to the central bank’swebsite.\nSee related article:Digital frontiers: Alex Tapscott on Web3, AI, and banking’s new dance', 'Since its inception 15 years ago this month , Bitcoin has become the star around which the rest of the blockchain industry revolves. It remains the most widely known and best-understood project in the broader crypto ecosystem, and it continues to galvanize interest in digital currencies across the world. One thing that unites all Bitcoin holders is trust in unchangeable code. Every day, the network’s miners convert real-world energy into a scarce digital asset that exists on an immutable public ledger. But one place where this trust has yet to take hold is traditional finance, where many big players are unwilling to hold Bitcoin outside of a familiar investment instrument. There are any number of reasons for this state of affairs. Though the process of buying, storing, managing and transferring Bitcoin has gotten much simpler, it’s still easy to misplace private keys or send Bitcoin to the wrong address — to say nothing of persistent concerns regarding its regulatory prospects. Ultimately, what this means is that traders operating within institutions beholden to restrictive investment rules have effectively been locked out of a promising and potentially highly profitable new arena. The most obvious solution to this problem would be an exchange-traded fund specializing in Bitcoin. An ETF is a basket of investments that can be traded on a stock exchange. A spot Bitcoin ETF, therefore, is effectively the same thing as making Bitcoin tradeable on such an exchange. While self-custody is preferable for some folks, this would furnish a straightforward way for other investors to gain exposure to Bitcoin without needing to directly manage it themselves. Absent an ETF, investors — particularly institutions that aren’t allowed to own Bitcoin directly — are limited to instruments like the Grayscale Bitcoin Trust. While GBTC indirectly grants exposure to Bitcoin, it doesn’t allow for immediate redemptions. This means that at various times it has traded at either sizable premiums or sizable discounts to Bitcoin, leading to incredibly inefficient cryptoasset markets. An ETF would allow many more investors to get direct exposure to Bitcoin, including major institutions that will bring an air of legitimacy to the broader digital asset space. How close are we to a Bitcoin ETF in the United States? The short answer is: much closer than we were even a few months ago. The U.S. Court of Appeals in Washington D.C. recently sided with Grayscale in its attempt to overrule the Securities and Exchange Commission’s denial of their earlier request to establish a Bitcoin ETF. A few months before that the largest asset management company in the world, BlackRock, submitted its own proposal for a Bitcoin ETF, with many other blue-chip institutions following suit. Outside of the U.S., recent efforts in this direction have included the introduction of Europe’s first spot Bitcoin ETF, along with multiple successful approvals of Bitcoin ETFs in Canada over the past two years. Story continues In addition to various other legal and economic justifications, global analysts offer these two examples as proof of the inevitability of a spot Bitcoin ETF in the U.S. JPMorgan’s Nikolaos Panigirtzoglou recently stated that the SEC would either be forced to approve GBTC’s Bitcoin ETFs or would have to suffer the embarrassment of retroactively withdrawing a prior approval of similar ETFs based on futures contracts. Bloomberg’s James Seyffart, in addition, predicted that spot Bitcoin ETF approvals would be a “done deal” by 2024. At this point, the destination is inevitable; how much longer it takes to get there remains to be seen. As for the question of “why now,” two core reasons stand out as especially important. First, in a world marked by a growing distrust of authority, Bitcoin represents a comforting mathematical certainty. A core tenet of Bitcoin is that its supply is capped at 21 million, making it one of the only assets whose supply is completely unaffected by demand. Given that increasing Bitcoin’s supply ahead of its pre-programmed emissions schedule is impossible, the only way to address an increase in demand is to make it more accessible with instruments like ETFs. The second reason stems from the fact that more and more people are building on top of the underlying Bitcoin network. Earlier this year, NFTs and fungible tokens were introduced to the Bitcoin blockchain , causing demand for network capacity to skyrocket. Though we’re no doubt in the early stages of these developments, they are nevertheless glimpses into a future where Bitcoin contributes to the governance of complex systems with uniquely credible neutrality. As things stand, Bitcoin is now attempting to gain access to the traditional financial system, but there is the intriguing possibility that it will compete with that system in a much more fundamental way. Rather than an ETF being a basket through which investors hold Bitcoin, for example, “ tokenization ” — the issuance of scarce digital tokens representing shares of ownership —\xa0 could eventually be the means by which traditional assets are held in a decentralized way. This would increase transparency and available liquidity while simultaneously reducing the prevalence of fee-extracting intermediaries. As an asset, Bitcoin is only the beginning. Its second-order effects will be truly vast. View comments', 'Since its inception15 years ago this month, Bitcoin has become the star around which the rest of the blockchain industry revolves. It remains the most widely known and best-understood project in the broader crypto ecosystem, and it continues to galvanize interest in digital currencies across the world.\nOne thing that unites all Bitcoin holders is trust in unchangeable code. Every day, the network’s miners convert real-world energy into a scarce digital asset that exists on an immutable public ledger. But one place where this trust has yet to take hold is traditional finance, where many big players are unwilling to hold Bitcoin outside of a familiar investment instrument.\nThere are any number of reasons for this state of affairs. Though the process of buying, storing, managing and transferring Bitcoin has gotten much simpler, it’s still easy to misplace private keys or send Bitcoin to the wrong address — to say nothing of persistent concerns regarding its regulatory prospects. Ultimately, what this means is that traders operating within institutions beholden to restrictive investment rules have effectively been locked out of a promising and potentially highly profitable new arena.\nThe most obvious solution to this problem would be an exchange-traded fund specializing in Bitcoin. An ETF is a basket of investments that can be traded on a stock exchange. A spot Bitcoin ETF, therefore, is effectively the same thing as making Bitcoin tradeable on such an exchange. While self-custody is preferable for some folks, this would furnish a straightforward way for other investors to gain exposure to Bitcoin without needing to directly manage it themselves.\nAbsent an ETF, investors — particularly institutions that aren’t allowed to own Bitcoin directly — are limited to instruments like the Grayscale Bitcoin Trust. While GBTC indirectly grants exposure to Bitcoin, it doesn’t allow for immediate redemptions. This means that at various times it has traded at either sizable premiums or sizable discounts to Bitcoin, leading to incredibly inefficient cryptoasset markets. An ETF would allow many more investors to get direct exposure to Bitcoin, including major institutions that will bring an air of legitimacy to the broader digital asset space.\nHow close are we to a Bitcoin ETF in the United States? The short answer is: much closer than we were even a few months ago. The U.S. Court of Appeals in Washington D.C. recently sided with Grayscale in its attempt to overrule the Securities and Exchange Commission’s denial of their earlier request to establish a Bitcoin ETF. A few months before that the largest asset management company in the world, BlackRock, submitted its own proposal for a Bitcoin ETF, with many other blue-chip institutions following suit. Outside of the U.S., recent efforts in this direction have included the introduction ofEurope’s first spot Bitcoin ETF,along withmultiple successful approvalsofBitcoin ETFs in Canadaover the past two years.\nIn addition to various other legal and economic justifications, global analysts offer these two examples as proof of the inevitability of a spot Bitcoin ETF in the U.S. JPMorgan’s Nikolaos Panigirtzoglou recently stated that the SEC would either be forced to approve GBTC’s Bitcoin ETFs or would have to suffer the embarrassment ofretroactivelywithdrawing a prior approval of similar ETFs based on futures contracts. Bloomberg’s James Seyffart, in addition,predicted thatspot Bitcoin ETF approvals would be a “done deal” by 2024.\nAt this point, the destination is inevitable; how much longer it takes to get there remains to be seen.\nAs for the question of “why now,” two core reasons stand out as especially important. First, in a world marked by a growing distrust of authority, Bitcoin represents a comforting mathematical certainty. A core tenet of Bitcoin is that its supply is capped at 21 million, making it one of the only assets whose supply is completely unaffected by demand. Given that increasing Bitcoin’s supply ahead of its pre-programmed emissions schedule is impossible, the only way to address an increase in demand is to make it more accessible with instruments like ETFs.\nThe second reason stems from the fact that more and more people are building on top of the underlying Bitcoin network. Earlier this year,NFTs and fungible tokens were introduced to the Bitcoin blockchain, causing demand for network capacity to skyrocket. Though we’re no doubt in the early stages of these developments, they are nevertheless glimpses into a future where Bitcoin contributes to the governance of complex systems with uniquely credible neutrality.\nAs things stand, Bitcoin is now attempting to gain access to the traditional financial system, but there is the intriguing possibility that it will compete with that system in a much more fundamental way. Rather than an ETF being a basket through which investors hold Bitcoin, for example, “tokenization” — the issuance of scarce digital tokens representing shares of ownership —\xa0 could eventually be the means by which traditional assets are held in a decentralized way. This would increase transparency and available liquidity while simultaneously reducing the prevalence of fee-extracting intermediaries.\nAs an asset, Bitcoin is only the beginning. Its second-order effects will be truly vast.', 'Since its inception15 years ago this month, Bitcoin has become the star around which the rest of the blockchain industry revolves. It remains the most widely known and best-understood project in the broader crypto ecosystem, and it continues to galvanize interest in digital currencies across the world.\nOne thing that unites all Bitcoin holders is trust in unchangeable code. Every day, the network’s miners convert real-world energy into a scarce digital asset that exists on an immutable public ledger. But one place where this trust has yet to take hold is traditional finance, where many big players are unwilling to hold Bitcoin outside of a familiar investment instrument.\nThere are any number of reasons for this state of affairs. Though the process of buying, storing, managing and transferring Bitcoin has gotten much simpler, it’s still easy to misplace private keys or send Bitcoin to the wrong address — to say nothing of persistent concerns regarding its regulatory prospects. Ultimately, what this means is that traders operating within institutions beholden to restrictive investment rules have effectively been locked out of a promising and potentially highly profitable new arena.\nThe most obvious solution to this problem would be an exchange-traded fund specializing in Bitcoin. An ETF is a basket of investments that can be traded on a stock exchange. A spot Bitcoin ETF, therefore, is effectively the same thing as making Bitcoin tradeable on such an exchange. While self-custody is preferable for some folks, this would furnish a straightforward way for other investors to gain exposure to Bitcoin without needing to directly manage it themselves.\nAbsent an ETF, investors — particularly institutions that aren’t allowed to own Bitcoin directly — are limited to instruments like the Grayscale Bitcoin Trust. While GBTC indirectly grants exposure to Bitcoin, it doesn’t allow for immediate redemptions. This means that at various times it has traded at either sizable premiums or sizable discounts to Bitcoin, leading to incredibly inefficient cryptoasset markets. An ETF would allow many more investors to get direct exposure to Bitcoin, including major institutions that will bring an air of legitimacy to the broader digital asset space.\nHow close are we to a Bitcoin ETF in the United States? The short answer is: much closer than we were even a few months ago. The U.S. Court of Appeals in Washington D.C. recently sided with Grayscale in its attempt to overrule the Securities and Exchange Commission’s denial of their earlier request to establish a Bitcoin ETF. A few months before that the largest asset management company in the world, BlackRock, submitted its own proposal for a Bitcoin ETF, with many other blue-chip institutions following suit. Outside of the U.S., recent efforts in this direction have included the introduction ofEurope’s first spot Bitcoin ETF,along withmultiple successful approvalsofBitcoin ETFs in Canadaover the past two years.\nIn addition to various other legal and economic justifications, global analysts offer these two examples as proof of the inevitability of a spot Bitcoin ETF in the U.S. JPMorgan’s Nikolaos Panigirtzoglou recently stated that the SEC would either be forced to approve GBTC’s Bitcoin ETFs or would have to suffer the embarrassment ofretroactivelywithdrawing a prior approval of similar ETFs based on futures contracts. Bloomberg’s James Seyffart, in addition,predicted thatspot Bitcoin ETF approvals would be a “done deal” by 2024.\nAt this point, the destination is inevitable; how much longer it takes to get there remains to be seen.\nAs for the question of “why now,” two core reasons stand out as especially important. First, in a world marked by a growing distrust of authority, Bitcoin represents a comforting mathematical certainty. A core tenet of Bitcoin is that its supply is capped at 21 million, making it one of the only assets whose supply is completely unaffected by demand. Given that increasing Bitcoin’s supply ahead of its pre-programmed emissions schedule is impossible, the only way to address an increase in demand is to make it more accessible with instruments like ETFs.\nThe second reason stems from the fact that more and more people are building on top of the underlying Bitcoin network. Earlier this year,NFTs and fungible tokens were introduced to the Bitcoin blockchain, causing demand for network capacity to skyrocket. Though we’re no doubt in the early stages of these developments, they are nevertheless glimpses into a future where Bitcoin contributes to the governance of complex systems with uniquely credible neutrality.\nAs things stand, Bitcoin is now attempting to gain access to the traditional financial system, but there is the intriguing possibility that it will compete with that system in a much more fundamental way. Rather than an ETF being a basket through which investors hold Bitcoin, for example, “tokenization” — the issuance of scarce digital tokens representing shares of ownership —\xa0 could eventually be the means by which traditional assets are held in a decentralized way. This would increase transparency and available liquidity while simultaneously reducing the prevalence of fee-extracting intermediaries.\nAs an asset, Bitcoin is only the beginning. Its second-order effects will be truly vast.', 'Ferrari (RACE) will start accepting cryptocurrency as a payment method in the U.S., with a view to extending the scheme to Europe. The Maranello, Italy-based luxury sports car manufacturer is responding to demand from its wealthy customers, Chief Marketing and Commercial Officer Enrico Galliera said in an interview with Reuters . "Some [of our clients] are young investors who have built their fortunes around cryptocurrencies," Galliera said. "Some others are more traditional investors, who want to diversify their portfolios." Ferrari will use crypto payments provider BitPay to process transactions in bitcoin (BTC), ether (ETH) and stablecoin USD coin (USDC) in the initial rollout in the U.S. "Dealers – and ultimately Ferrari – will receive payments in traditional currency and will not be managing cryptocurrencies directly," Ferrari told CoinDesk in an emailed statement. "The source of the cryptocurrencies will be proven and volatility risks associated with exchange rates will be eliminated." Despite crypto\'s popularity as an investment tool, for major companies to accept it as method of payment remains rare. In February 2021, Elon Musk\'s electric-car company Tesla (TSLA) began accepting bitcoin payments but discontinued the service only three months later , citing environmental concerns over the electricity usage involved in bitcoin mining. Read More: Chase U.K. to Block Crypto Payments Citing Fraud, Scams UPDATE (Oct. 16, 13:30 UTC): Adds statement from Ferrari.', 'Bitcoin (BTC) neared the $28,000 mark early Monday before retreating as crypto bulls seemed to bet on hopes of a major spot bitcoin exchange-traded fund (ETF) going live in the U.S. in the coming months. Bearish trades among bitcoin futures cost traders some $27 million within a few hours on the move during Asian morning hours. Open interest – the number of unsettled futures contracts, which may indicate market liquidity – rose 6.7%, showing improved trader participation over the past 12 hours. Popular crypto investor Anthony Scaramucci, the founder and managing partner at SkyBridge Capital, said in a podcast he expected bitcoin to eventually become a $15 trillion asset over the coming years, calling it “more valuable than gold.” Bitcoin led gains among major tokens, with Solana’s SOL and Tron’s TRX also climbing. SOL jumped as a bankruptcy estate for beleaguered crypto exchange FTX – which holds billions worth of SOL – staked nearly 10% of its holdings, damping fears of a token sell-off. Among other alternative tokens, Bitcoin Cash (BCH) and Bitcoin SV (BSV), both bitcoin forks , gained as much as 11% while crypto casino Rollbit’s RLB tokens surged as much as 14%. Elsewhere, crypto game Big Time’s BIGTIME tokens jumped 350% shortly after listing on influential exchange Coinbase (COIN). However, analysts at Delphi Digital said they considered the token an "extremely risky asset to be trading right now." "Before touching on some of the game-related concerns, it is important to point out that it is incredibly hard to find any reliable sources on what BIGTIME tokenomics looks like," analyst Joseph Lloyd said in a client note shared with CoinDesk. "There is no vesting schedule, no mention of allocations, and no concrete info on the current circulating supply (will update when we have this info). All we know is that so far, approximately 5% of the total supply has been airdropped to players and is being actively traded on the open market."', 'Bitcoin (BTC)neared the $28,000 markearly Monday before retreating as crypto bulls seemed to bet on hopes of a major spot bitcoin exchange-traded fund (ETF) going live in the U.S. in the coming months.\nBearish trades among bitcoin futures cost traders some $27 million within a few hours on the move during Asian morning hours. Open interest – the number of unsettled futures contracts, which may indicate market liquidity – rose 6.7%, showing improved trader participation over the past 12 hours.\nPopular crypto investor Anthony Scaramucci, the founder and managing partner at SkyBridge Capital, said in a podcast he expected bitcoin toeventually becomea $15 trillion asset over the coming years, calling it “more valuable than gold.”\nBitcoin led gains among major tokens, with Solana’s SOL and Tron’s TRX also climbing.SOL jumpedas a bankruptcy estate for beleaguered crypto exchange FTX – which holds billions worth of SOL – staked nearly 10% of its holdings, damping fears of a token sell-off.\nAmong other alternative tokens, Bitcoin Cash (BCH) and Bitcoin SV (BSV), bothbitcoin forks, gained as much as 11% while crypto casino Rollbit’s RLB tokens surged as much as 14%.\nElsewhere, crypto game Big Time’s BIGTIME tokens jumped 350% shortly after listing on influential exchange Coinbase (COIN). However, analysts at Delphi Digital said they considered the token an "extremely risky asset to be trading right now."\n"Before touching on some of the game-related concerns, it is important to point out that it is incredibly hard to find any reliable sources on what BIGTIME tokenomics looks like," analyst Joseph Lloyd said in a client note shared with CoinDesk. "There is no vesting schedule, no mention of allocations, and no concrete info on the current circulating supply (will update when we have this info). All we know is that so far, approximately 5% of the total supply has been airdropped to players and is being actively traded on the open market."', 'Bitcoin (BTC)neared the $28,000 markearly Monday before retreating as crypto bulls seemed to bet on hopes of a major spot bitcoin exchange-traded fund (ETF) going live in the U.S. in the coming months.\nBearish trades among bitcoin futures cost traders some $27 million within a few hours on the move during Asian morning hours. Open interest – the number of unsettled futures contracts, which may indicate market liquidity – rose 6.7%, showing improved trader participation over the past 12 hours.\nPopular crypto investor Anthony Scaramucci, the founder and managing partner at SkyBridge Capital, said in a podcast he expected bitcoin toeventually becomea $15 trillion asset over the coming years, calling it “more valuable than gold.”\nBitcoin led gains among major tokens, with Solana’s SOL and Tron’s TRX also climbing.SOL jumpedas a bankruptcy estate for beleaguered crypto exchange FTX – which holds billions worth of SOL – staked nearly 10% of its holdings, damping fears of a token sell-off.\nAmong other alternative tokens, Bitcoin Cash (BCH) and Bitcoin SV (BSV), bothbitcoin forks, gained as much as 11% while crypto casino Rollbit’s RLB tokens surged as much as 14%.\nElsewhere, crypto game Big Time’s BIGTIME tokens jumped 350% shortly after listing on influential exchange Coinbase (COIN). However, analysts at Delphi Digital said they considered the token an "extremely risky asset to be trading right now."\n"Before touching on some of the game-related concerns, it is important to point out that it is incredibly hard to find any reliable sources on what BIGTIME tokenomics looks like," analyst Joseph Lloyd said in a client note shared with CoinDesk. "There is no vesting schedule, no mention of allocations, and no concrete info on the current circulating supply (will update when we have this info). All we know is that so far, approximately 5% of the total supply has been airdropped to players and is being actively traded on the open market."', 'Ferrari, a luxury car brand, has started to accept cryptocurrency payments in the U.S. and plans to extend the service to Europe, the firm’s chief marketing and commercial officer, Enrico Galliera told Reuters. See related article: Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict Fast Fact According to Galliera , Ferrari is collaborating with crypto payment processor BitPay for Bitcoin, Ether and USDC payments in the U.S. Ferrari may work with other providers in different regions. Payment processors are responsible for ensuring that crypto payments come from legitimate sources and are not related to any criminal activity or potential tax evasion. Bitcoin, the first cryptocurrency, was invented by its pseudonymous creator Satoshi Nakamoto in 2008 as a peer-to-peer electronic payment system. However, due to dramatic price swings and technical limitations, cryptocurrencies have yet to catch on as a major payment medium. Reuters reported that Bitpay will immediately turn Ferrari’s crypto payments into fiat currencies. Galliera said that this approach will mean that the firm is “shielded from their wide fluctuations.” Galliera added that most U.S. car dealers have already signed up or are on the brink of accepting cryptocurrency payments. Electric car manufacturer Tesla briefly accepted Bitcoin payments in 2021 but halted the service due to environmental concerns. Tesla boss Elon Musk floated the possibility of revisiting Bitcoin payments if the network’s mining became at least 50% renewable. Last month, Bitcoin surpassed this threshold, as noted by Bloomberg analyst Jamie Coutts. See related article: Digital frontiers: Alex Tapscott on Web3, AI, and banking’s new dance', 'Ferrari, a luxury car brand, has started to accept cryptocurrency payments in the U.S. and plans to extend the service to Europe, the firm’s chief marketing and commercial officer, Enrico Galliera told Reuters.\nSee related article:Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict\n• According toGalliera, Ferrari is collaborating with crypto payment processor BitPay for Bitcoin, Ether and USDC payments in the U.S. Ferrari may work with other providers in different regions. Payment processors are responsible for ensuring that crypto payments come from legitimate sources and are not related to any criminal activity or potential tax evasion.\n• Bitcoin, the first cryptocurrency, was invented by its pseudonymous creator Satoshi Nakamoto in 2008 as a peer-to-peer electronic payment system. However, due to dramatic price swings and technical limitations, cryptocurrencies have yet to catch on as a major payment medium.\n• Reuters reported that Bitpay will immediately turn Ferrari’s crypto payments into fiat currencies. Galliera said that this approach will mean that the firm is “shielded from their wide fluctuations.”\n• Galliera added that most U.S. car dealers have already signed up or are on the brink of accepting cryptocurrency payments.\n• Electric car manufacturer Tesla briefly accepted Bitcoin payments in 2021 buthaltedthe service due to environmental concerns. Tesla boss Elon Musk floated the possibility of revisiting Bitcoin payments if the network’s mining became at least 50% renewable. Last month, Bitcoin surpassed this threshold, asnotedby Bloomberg analyst Jamie Coutts.\nSee related article:Digital frontiers: Alex Tapscott on Web3, AI, and banking’s new dance', 'LAS VEGAS, October 16, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" AAI ," or the " Company "), today announced that it has entered into a note purchase agreement (the " Agreement ") with Ault & Company, Inc., a related party (" A&C "). Pursuant to the Agreement, which closed upon execution on October 13, 2023, AAI issued to A&C a senior secured convertible promissory note (the " Note ") and warrants (the " Warrants ") to purchase shares of AAI’s common stock (" Common Stock "). The Note and Warrants were paid by A&C through (i) approximately $11.6 million of secured promissory notes previously issued by the Company, which have been assumed by A&C, for which the Company has issued term notes to A&C in the same amount, which A&C canceled on closing, (ii) $4.6 million of loans made by A&C to the Company pursuant to a credit agreement entered into between the parties in June 2023, which A&C canceled on closing, and (iii) $1.3 million stated value of 125,000 outstanding shares of the Company’s Series B convertible preferred stock that A&C has surrendered to the Company for retirement. The Note accrues interest at the rate of 10% per annum, is due five years after issuance, and is secured by a first priority security interest in all the assets of the Company and its subsidiaries, though certain collateral comprising the security interest is subordinated to a security interest previously granted by the Company and certain of its subsidiaries to an existing lender. The Note is convertible, at the option of A&C, into shares of Common Stock at a conversion price equal to the greater of (i) $0.10 per share (the " Floor Price "), which Floor Price shall not, except for voting rights purposes, be adjusted for stock dividends, stock splits, stock combinations and other similar transactions and (ii) the lesser of (A) $0.2952, or (B) a 5% premium to the closing sale price of the Common stock on the day immediately prior to the date of conversion (the " Conversion Price "). The Conversion Price is subject to standard anti-dilution provisions in connection with any stock split, stock dividend, subdivision or similar reclassification of the Common Stock. The Note also has "full ratchet" price protection in the event the Company should issue securities at a lower price than the Conversion Price. A&C received Warrants to purchase up to 47.7 million shares of Common Stock, exercisable for five years at $0.1837 per share, subject to adjustment. Story continues Milton "Todd" Ault, III, Executive Chairman of AAI and Chief Executive Officer of A&C, commented, "A&C’s and its affiliates’ commitment to the Company dates back to late 2016. Despite various evolutions, name shifts, and acquisitions effectuated by AAI, AAI’s primary objective to foster a resilient holding company remains unchanged. This debt restructuring reflects A&C’s ongoing dedication to enable AAI to meet its financial commitments and expand its business. Upon conversion of the Note, should A&C elect to pursue such conversion, A&C looks forward to demonstrating its confidence in AAI through becoming the largest stockholder of AAI." The Note and Warrants will not be convertible and/or exercisable unless and until approval is obtained for conversion and exercise from the NYSE American, and thereafter, not into more than an aggregate of 19.99% of the total shares of Common Stock outstanding as of the date of the Agreement, unless the Company obtains stockholder approval. Additional information regarding the securities described above and the terms of the Agreement, the Note and the Warrants will be included in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission (" SEC "). The Note and Warrants were issued in reliance upon the exemption from the securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the " Securities Act ") as promulgated by SEC under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction. For more information on AAI and its subsidiaries, AAI recommends that stockholders, investors, and any other interested parties read AAI’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov/. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, AAI owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, AAI extends credit to select entrepreneurial businesses through a licensed lending subsidiary. AAI’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com/ . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com/. View source version on businesswire.com: https://www.businesswire.com/news/home/20231016990856/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235 View comments', 'LAS VEGAS, October 16, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" AAI ," or the " Company "), today announced that it has entered into a note purchase agreement (the " Agreement ") with Ault & Company, Inc., a related party (" A&C "). Pursuant to the Agreement, which closed upon execution on October 13, 2023, AAI issued to A&C a senior secured convertible promissory note (the " Note ") and warrants (the " Warrants ") to purchase shares of AAI’s common stock (" Common Stock "). The Note and Warrants were paid by A&C through (i) approximately $11.6 million of secured promissory notes previously issued by the Company, which have been assumed by A&C, for which the Company has issued term notes to A&C in the same amount, which A&C canceled on closing, (ii) $4.6 million of loans made by A&C to the Company pursuant to a credit agreement entered into between the parties in June 2023, which A&C canceled on closing, and (iii) $1.3 million stated value of 125,000 outstanding shares of the Company’s Series B convertible preferred stock that A&C has surrendered to the Company for retirement. The Note accrues interest at the rate of 10% per annum, is due five years after issuance, and is secured by a first priority security interest in all the assets of the Company and its subsidiaries, though certain collateral comprising the security interest is subordinated to a security interest previously granted by the Company and certain of its subsidiaries to an existing lender. The Note is convertible, at the option of A&C, into shares of Common Stock at a conversion price equal to the greater of (i) $0.10 per share (the " Floor Price "), which Floor Price shall not, except for voting rights purposes, be adjusted for stock dividends, stock splits, stock combinations and other similar transactions and (ii) the lesser of (A) $0.2952, or (B) a 5% premium to the closing sale price of the Common stock on the day immediately prior to the date of conversion (the " Conversion Price "). The Conversion Price is subject to standard anti-dilution provisions in connection with any stock split, stock dividend, subdivision or similar reclassification of the Common Stock. The Note also has "full ratchet" price protection in the event the Company should issue securities at a lower price than the Conversion Price. A&C received Warrants to purchase up to 47.7 million shares of Common Stock, exercisable for five years at $0.1837 per share, subject to adjustment. Story continues Milton "Todd" Ault, III, Executive Chairman of AAI and Chief Executive Officer of A&C, commented, "A&C’s and its affiliates’ commitment to the Company dates back to late 2016. Despite various evolutions, name shifts, and acquisitions effectuated by AAI, AAI’s primary objective to foster a resilient holding company remains unchanged. This debt restructuring reflects A&C’s ongoing dedication to enable AAI to meet its financial commitments and expand its business. Upon conversion of the Note, should A&C elect to pursue such conversion, A&C looks forward to demonstrating its confidence in AAI through becoming the largest stockholder of AAI." The Note and Warrants will not be convertible and/or exercisable unless and until approval is obtained for conversion and exercise from the NYSE American, and thereafter, not into more than an aggregate of 19.99% of the total shares of Common Stock outstanding as of the date of the Agreement, unless the Company obtains stockholder approval. Additional information regarding the securities described above and the terms of the Agreement, the Note and the Warrants will be included in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission (" SEC "). The Note and Warrants were issued in reliance upon the exemption from the securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the " Securities Act ") as promulgated by SEC under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction. For more information on AAI and its subsidiaries, AAI recommends that stockholders, investors, and any other interested parties read AAI’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov/. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, AAI owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, AAI extends credit to select entrepreneurial businesses through a licensed lending subsidiary. AAI’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com/ . Forward-Looking Statements This press release contains "forward-looking s
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-16
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $529,811,547,231
- Hash Rate: 416156889.9191482
- Transaction Count: 299782.0
- Unique Addresses: 652765.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.47
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: This article originally appeared in First Mover , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories As bitcoin ( BTC ) moves higher, the recently shorted alternative cryptocurrencies like Solana's SOL may see leverage liquidations and exaggerated price rallies . Since Monday's brief move below crucial support at $25,000, bitcoin has risen over 6% to trade near $26,600, CoinDesk data show. Upbeat China August retail sales and factory output data released early Friday revived risk sentiment in financial markets, clearing the way for continued price gains in the leading cryptocurrencies. Bitcoin cash (BCH) led advancers, adding 8% over the past 24 hours. Maker DAO’s MKR followed with a rise of 5%. XRP, Ether (ETH), SOL, Tron's TRX and dogecoin (DOGE) are all tracking bitcoin higher, as usual. The altcoin bounce comes days after traders sold these tokens, pricing in the possibility of defunct exchange FTX securing approval from the bankruptcy court to sell assets from its multibillion dollar cryptocurrency holdings. The recovery puts altcoin bears, who took leveraged bets on SOL and other tokens declining because of potential sales by FTX creditors, at risk of liquidation. Binance.US has been accused of not cooperating in a probe by the Securities and Exchange Commission, which has said the company’s staking, clearing and brokerage services violate federal securities law, court filings unsealed Thursday show. Federal U.S. regulators worry the crypto exchange’s use of Ceffu, a custody service offered by Binance’s international arm, violates a deal intended to stop assets being squirreled overseas. Binance.US ’ holding company, known as BAM, has provided “only approximately 220 documents ... many that consist of unintelligible screenshots and documents without dates or signatures,” the SEC said, of the evidence-gathering process known as discovery. The company also lost two more high-level executives not long after the departure of CEO Brian Shroder. Head of Legal Krishna Juvvadi and Chief Risk Officer Sidney Majalya are leaving the company, the Wall Street Journal reported, citing people familiar with the departures. Juvvadi was hired in May last year, and Majalya was appointed in December 2021. Deutsche Bank is working with Taurus, a Swiss startup specializing in cryptocurrency safekeeping, to establish digital asset custody and tokenization services, the companies said on Thursday. Germany’s biggest lender, Deutsche Bank, said in June it had applied for a crypto custody license from the country’s financial watchdog, BaFin. The bank’s publicly known crypto custody ambitions stretch back to early 2021, when details about a digital asset custody prototype appeared in a report by the World Economic Forum. Germany’s roll-out of rules for firms to custody crypto assets and, more broadly, Europe’s proposed regime for Markets in Crypto-Assets regulation (MiCA) are providing traditional finance firms with the clarity needed to explore the digital assets industry. Story continues Chart of the Day The chart shows net liquidity injections by the People's Bank of China (PBOC) since 2015. While the central bank has turned accommodative this year, it has not yet resorted to the flood-like stimulus seen in 2015-16. The battered crypto market has been looking to PBOC to compensate for the monetary tightening in the West. Source: Longview Economics, Macrobond Trending Posts Celsius, Core Scientific Resolve Acrimonious Mining Dispute With $45M Deal Binance.US Head of Legal and Chief Risk Officer Leaving the Crypto Exchange: WSJ Genesis Has Ceased All Crypto Trading Services: Spokesperson View comments...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['By Selena Li\nHONG KONG, Oct 17 (Reuters) - Asian stocks rose in cautious trade on Tuesday, with investors choosing to focus on corporate earnings prospects and the resilience of the U.S. economy ahead of tensions in the Middle East.\nMSCI\'s broadest index of Asia-Pacific shares outside Japan advanced 0.4%. Tokyo\'s Nikkei rose 1%.\nOvernight the S&P 500 had climbed 1%, while oil prices and the U.S. dollar had fallen.\nA host of "favorable" signs from the strength of the U.S. consumer, economic growth, and interest rates supporting bank profits, gave reasons for hope, said Kerry Craig, a global market strategist at J.P. Morgan Asset Management.\nQuarterly results from Goldman Sachs and Bank of America are due on Tuesday, with Morgan Stanley, pharmaceutical giant Johnson & Johnson, Tesla and Netflix due later in the week.\nA recent shift in tone from Federal Reserve officials - hinting that interest rate hikes might be over - has also cheered investors and bond markets lately.\nBenchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7331%.\nInvestors are also trying to assess risks that a wider conflict breaks out in the Middle East which remains a "very fluid situation", Craig said.\nU.S. President Joe Biden will visit Israel on Wednesday as the country prepares to escalate an offensive against Hamas militants that has set off a humanitarian crisis in Gaza and raised fears of a broader conflict with Iran.\nIran\'s Foreign Minister said Israel would not be allowed to act in Gaza without consequences, warning of "preemptive action" by the "resistance front" in the coming hours.\nIsrael\'s shekel weakened beyond 4-to-the-dollar for the first time since 2015 on Monday, as it bears some of the brunt of worry and uncertainty about the Gaza situation.\nIn currency markets the Australian dollar ticked up a little to $0.6354 as minutes from the most recent central bank meeting struck a surprisingly hawkish tone, while the U.S. dollar steadied elsewhere.\nA slowdown in New Zealand inflation to a two-year low dented bets on any further interest rate hikes and the kiwi, which slipped 0.4% to $0.5906.\nThe euro traded at $1.0549 and the yen hovered just short of the 150-per-dollar mark at 149.53.\nChina\'s property sector, meanwhile, edged toward deeper trouble with Tuesday marking the end of a 30-day grace period on a late payment from developer Country Garden. If investors don\'t receive the coupon payment, all of Country Garden\'s offshore debts will be deemed in default.\nThe property sector was flat while the Hang Seng rose 0.8% on Tuesday. A mainland real estate index fell 0.6%.\nGold edged away from Friday\'s three-week high and was last at $1,915 an ounce. Brent crude futures had dropped more than $1 a barrel on Monday on hopes for an agreement that the U.S. will ease sanctions on Venezuelan oil.\nBrent futures were last down 23 cents or 0.25% to $89.43 a barrel. Bitcoin had leapt on Monday before giving up gains after BlackRock denied a report that it had won approval for a bitcoin exchange traded fund.\nIt was last at $28,353 after trading as high as $29.900 on Monday.\n(Reporting by Selena Li Editing by Shri Navaratnam)', 'By Selena Li HONG KONG, Oct 17 (Reuters) - Asian stocks rose in cautious trade on Tuesday, with investors choosing to focus on corporate earnings prospects and the resilience of the U.S. economy ahead of tensions in the Middle East. MSCI\'s broadest index of Asia-Pacific shares outside Japan advanced 0.4%. Tokyo\'s Nikkei rose 1%. Overnight the S&P 500 had climbed 1%, while oil prices and the U.S. dollar had fallen. A host of "favorable" signs from the strength of the U.S. consumer, economic growth, and interest rates supporting bank profits, gave reasons for hope, said Kerry Craig, a global market strategist at J.P. Morgan Asset Management. Quarterly results from Goldman Sachs and Bank of America are due on Tuesday, with Morgan Stanley, pharmaceutical giant Johnson & Johnson, Tesla and Netflix due later in the week. A recent shift in tone from Federal Reserve officials - hinting that interest rate hikes might be over - has also cheered investors and bond markets lately. Benchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7331%. Investors are also trying to assess risks that a wider conflict breaks out in the Middle East which remains a "very fluid situation", Craig said. U.S. President Joe Biden will visit Israel on Wednesday as the country prepares to escalate an offensive against Hamas militants that has set off a humanitarian crisis in Gaza and raised fears of a broader conflict with Iran. Iran\'s Foreign Minister said Israel would not be allowed to act in Gaza without consequences, warning of "preemptive action" by the "resistance front" in the coming hours. Israel\'s shekel weakened beyond 4-to-the-dollar for the first time since 2015 on Monday, as it bears some of the brunt of worry and uncertainty about the Gaza situation. In currency markets the Australian dollar ticked up a little to $0.6354 as minutes from the most recent central bank meeting struck a surprisingly hawkish tone, while the U.S. dollar steadied elsewhere. Story continues A slowdown in New Zealand inflation to a two-year low dented bets on any further interest rate hikes and the kiwi, which slipped 0.4% to $0.5906. The euro traded at $1.0549 and the yen hovered just short of the 150-per-dollar mark at 149.53. China\'s property sector, meanwhile, edged toward deeper trouble with Tuesday marking the end of a 30-day grace period on a late payment from developer Country Garden. If investors don\'t receive the coupon payment, all of Country Garden\'s offshore debts will be deemed in default. The property sector was flat while the Hang Seng rose 0.8% on Tuesday. A mainland real estate index fell 0.6%. Gold edged away from Friday\'s three-week high and was last at $1,915 an ounce. Brent crude futures had dropped more than $1 a barrel on Monday on hopes for an agreement that the U.S. will ease sanctions on Venezuelan oil. Brent futures were last down 23 cents or 0.25% to $89.43 a barrel. Bitcoin had leapt on Monday before giving up gains after BlackRock denied a report that it had won approval for a bitcoin exchange traded fund. It was last at $28,353 after trading as high as $29.900 on Monday. (Reporting by Selena Li Editing by Shri Navaratnam)', '(Our regular analysis of the wild world of cryptocurrencies. Repeats for additional subscribers) By Lisa Pauline Mattackal Oct 17 (Reuters) - The weak crypto market is wobbling through autumn. And winter\'s on its way. The long-anticipated U.S. launch of a group of exchange-traded funds tracking ether offered fresh evidence of the malaise at a time when investors are running from risk amid economic gloom and war in Ukraine and the Middle East. The six ETFs launched on Oct. 2 offering exposure to ether futures contracts pulled in just under $10 million in their first week of trading, according to CoinShares data. Ethereum products overall saw outflows of $7.5 million in the week to Oct. 13, the data shows. "The timing of the futures ETFs could hardly be worse," said Vetle Lunde, senior analyst at K33 Research. The week of Oct. 2 saw Treasury yields soar to their highest level in decades, while investors pulled money from riskier assets in the face of "higher-for-longer" interest rates. Ether prices have dropped over 5% so far this month and the size of the cryptocurrency market has dipped from $1.15 trillion to $1.12 trillion, according to CoinGecko. Trading volumes for the ether futures ETFs remained below $2 million on their first day, according to K33 Research. By contrast, the ProShares Bitcoin Strategy ETF, the first fund tracking bitcoin futures, saw around $570 million of inflows in its first day of trading in October 2021. The contrast with ETF launches during the height of the crypto craze in 2021 show how the institutional investors who drove much of the demand back then have retreated from digital assets as the macro picture has grown murkier and murkier. Crypto ETFs have experienced a slowdown in activity for months, with Lunde noting bitcoin ones globally had seen net outflows of 11,157 bitcoin between Aug. 1 and Oct. 3. Such funds are favored by many traditional investors as they offer easier access via regular stock exchanges without needing to directly hold crypto. Story continues Ben McMillan, chief investment officer at IDX Digital Assets, said his firm was positioning investments more defensively until there was more clarity around Federal Reserve policy and the likelihood of a recession. "Investors are battening down the hatches and looking at how to make their portfolios more defensive," McMillan added. "Speculative assets - even with a compelling growth thesis - are just a much lower priority now." BACK TO BITCOIN? Bitcoin\'s status as the original "digital gold" has supported it somewhat, outperforming ether with declines of about 2% this month. Bitcoin-focused ETFs saw inflows of $43 million in the week of Oct. 2, while bitcoin\'s share of the cryptocurrency market cap has crept up to 48% from 47%. Ether prices have risen 32% this year, lagging bitcoin which is up over 70%. The newly launched ETFs tracking solely ether futures on the Chicago Mercantile Exchange, from ProShares, VanEck and Bitwise, have all dipped over 6% since launch. ProShares and Bitwise also launched funds tracking a mixture of bitcoin and ether futures, while Valkyrie Funds converted its pure-play bitcoin ETF into one with exposure to both bitcoin and ether. These dual-exposure funds have performed better, with Bitwise\'s and ProShares\' down about 3% and Valkyrie\'s edging up 0.3%. McMillan at IDX noted that while the response to the ether futures ETFs has been underwhelming, factors such as the use of the Ethereum blockchain by large financial firms in tokenizing assets could bring investors back to the table. "Right now, the macro backdrop is dominating everything." (Reporting by Lisa Pauline Mattackal in Bengaluru; Graphic by Sumanta Sen; Editing by Tom Wilson and Pravin Char)', "Prospective Bitcoin spot ETFs are again dominating the headlines, with a tweet from Cointelegraph falsely claiming U.S. regulators had approved BlackRock's proposed ETF triggering violent volatility in the markets.\nOn Oct. 16, Bitcoin abruptly rallied from $27,700 to $29,400 in one hour, according to CoinMarketCap. Bitcoin derivatives experienced exaggerated volatility, with BTC/USDT tagging a high of $30,625 on Bybit.\nHowever, the markets were moving in response to a tweet from Cointelegraph falsely claiming that the spot Bitcoin exchange-traded fund (ETF)applicationfrom BlackRock, the world’s largest asset manager, had been approved by U.S. regulators.\nMany analysts wereskepticalof Cointelegraph’s claim and sought to check its accuracy with other sources. Cointelegraph’s reporting wasproveninaccurate roughly one hour after publication, with BTC quickly shed most of the day’s gains within 45 minutes of its local high.\nCointelegraph responded by editing and then deleting the tweet, beforeacknowledgingthe original tweet’s inaccuracy and assuring an investigation was underway into its origin.\nCointelegraph later followed up with a blog post including screenshots of internal communications surrounding the tweet’s publication. Thescreenshotsshow a Cointelegraph employee hastily reacting to a tip provided to an internal Slack channel used to field news tips from potential sources. The tip was provided by a now-deleted Telegram account claiming to forward the headline from Bloomberg Terminal.\n“An internal investigation revealed that our standard procedure for posting breaking news on social media, wherein sources are required to be verified before posting to social media, was not followed,” Cointelegraph said.\nThe incident triggered some onlookers to speculate someone at Cointelegraph may have engineered the incident as an elaborate insider trading opportunity.\nThe rumors gathered momentum after Rollbit, a crypto casino offering leveraged trading,posteda screenshot appearing to show an account with the name “Cointelegraph” profiting more than $2.2M from a 50x leveraged long opened using Rollbit on Oct. 16.\nHowever, Scott Melker, host of the Wolf Of All Streets podcast, dismissed the rumor bysharinga screenshot of Rollbit’s trading leaderboard for the day, from which the purported “Cointelegraph” account was missing.\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "Prospective Bitcoin spot ETFs are again dominating the headlines, with a tweet from Cointelegraph falsely claiming U.S. regulators had approved BlackRock's proposed ETF triggering violent volatility in the markets.\nOn Oct. 16, Bitcoin abruptly rallied from $27,700 to $29,400 in one hour, according to CoinMarketCap. Bitcoin derivatives experienced exaggerated volatility, with BTC/USDT tagging a high of $30,625 on Bybit.\nHowever, the markets were moving in response to a tweet from Cointelegraph falsely claiming that the spot Bitcoin exchange-traded fund (ETF)applicationfrom BlackRock, the world’s largest asset manager, had been approved by U.S. regulators.\nMany analysts wereskepticalof Cointelegraph’s claim and sought to check its accuracy with other sources. Cointelegraph’s reporting wasproveninaccurate roughly one hour after publication, with BTC quickly shed most of the day’s gains within 45 minutes of its local high.\nCointelegraph responded by editing and then deleting the tweet, beforeacknowledgingthe original tweet’s inaccuracy and assuring an investigation was underway into its origin.\nCointelegraph later followed up with a blog post including screenshots of internal communications surrounding the tweet’s publication. Thescreenshotsshow a Cointelegraph employee hastily reacting to a tip provided to an internal Slack channel used to field news tips from potential sources. The tip was provided by a now-deleted Telegram account claiming to forward the headline from Bloomberg Terminal.\n“An internal investigation revealed that our standard procedure for posting breaking news on social media, wherein sources are required to be verified before posting to social media, was not followed,” Cointelegraph said.\nThe incident triggered some onlookers to speculate someone at Cointelegraph may have engineered the incident as an elaborate insider trading opportunity.\nThe rumors gathered momentum after Rollbit, a crypto casino offering leveraged trading,posteda screenshot appearing to show an account with the name “Cointelegraph” profiting more than $2.2M from a 50x leveraged long opened using Rollbit on Oct. 16.\nHowever, Scott Melker, host of the Wolf Of All Streets podcast, dismissed the rumor bysharinga screenshot of Rollbit’s trading leaderboard for the day, from which the purported “Cointelegraph” account was missing.\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "Prospective Bitcoin spot ETFs are again dominating the headlines, with a tweet from Cointelegraph falsely claiming U.S. regulators had approved BlackRock's proposed ETF triggering violent volatility in the markets. On Oct. 16, Bitcoin abruptly rallied from $27,700 to $29,400 in one hour, according to CoinMarketCap. Bitcoin derivatives experienced exaggerated volatility, with BTC/USDT tagging a high of $30,625 on Bybit. However, the markets were moving in response to a tweet from Cointelegraph falsely claiming that the spot Bitcoin exchange-traded fund (ETF) application from BlackRock, the world’s largest asset manager, had been approved by U.S. regulators. Many analysts were skeptical of Cointelegraph’s claim and sought to check its accuracy with other sources. Cointelegraph’s reporting was proven inaccurate roughly one hour after publication, with BTC quickly shed most of the day’s gains within 45 minutes of its local high. Cointelegraph Publishes Post-Mortem After Inaccurate Tweet Sends BTC Flying Cointelegraph Publishes Post-Mortem After Inaccurate Tweet Sends BTC Flying Cointelegraph Publishes Post-Mortem After Inaccurate Tweet Sends BTC Flying Cointelegraph responded by editing and then deleting the tweet, before acknowledging the original tweet’s inaccuracy and assuring an investigation was underway into its origin. Cointelegraph later followed up with a blog post including screenshots of internal communications surrounding the tweet’s publication. The screenshots show a Cointelegraph employee hastily reacting to a tip provided to an internal Slack channel used to field news tips from potential sources. The tip was provided by a now-deleted Telegram account claiming to forward the headline from Bloomberg Terminal. “An internal investigation revealed that our standard procedure for posting breaking news on social media, wherein sources are required to be verified before posting to social media, was not followed,” Cointelegraph said. The incident triggered some onlookers to speculate someone at Cointelegraph may have engineered the incident as an elaborate insider trading opportunity. The rumors gathered momentum after Rollbit, a crypto casino offering leveraged trading, posted a screenshot appearing to show an account with the name “Cointelegraph” profiting more than $2.2M from a 50x leveraged long opened using Rollbit on Oct. 16. Story continues However, Scott Melker, host of the Wolf Of All Streets podcast, dismissed the rumor by sharing a screenshot of Rollbit’s trading leaderboard for the day, from which the purported “Cointelegraph” account was missing. Cointelegraph Publishes Post-Mortem After Inaccurate Tweet Sends BTC Flying To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", 'By Lisa Pauline Mattackal (Reuters) - The weak crypto market is wobbling through autumn. And winter\'s on its way. The long-anticipated U.S. launch of a group of exchange-traded funds tracking ether offered fresh evidence of the malaise at a time when investors are running from risk amid economic gloom and war in Ukraine and the Middle East. The six ETFs launched on Oct. 2 offering exposure to ether futures contracts pulled in just under $10 million in their first week of trading, according to CoinShares data. Ethereum products overall saw outflows of $7.5 million in the week to Oct. 13, the data shows. "The timing of the futures ETFs could hardly be worse," said Vetle Lunde, senior analyst at K33 Research. The week of Oct. 2 saw Treasury yields soar to their highest level in decades, while investors pulled money from riskier assets in the face of "higher-for-longer" interest rates. Ether prices have dropped over 5% so far this month and the size of the cryptocurrency market has dipped from $1.15 trillion to $1.12 trillion, according to CoinGecko. Trading volumes for the ether futures ETFs remained below $2 million on their first day, according to K33 Research. By contrast, the ProShares Bitcoin Strategy ETF, the first fund tracking bitcoin futures, saw around $570 million of inflows in its first day of trading in October 2021. The contrast with ETF launches during the height of the crypto craze in 2021 show how the institutional investors who drove much of the demand back then have retreated from digital assets as the macro picture has grown murkier and murkier. Crypto ETFs have experienced a slowdown in activity for months, with Lunde noting bitcoin ones globally had seen net outflows of 11,157 bitcoin between Aug. 1 and Oct. 3. Such funds are favored by many traditional investors as they offer easier access via regular stock exchanges without needing to directly hold crypto. Ben McMillan, chief investment officer at IDX Digital Assets, said his firm was positioning investments more defensively until there was more clarity around Federal Reserve policy and the likelihood of a recession. Story continues "Investors are battening down the hatches and looking at how to make their portfolios more defensive," McMillan added. "Speculative assets - even with a compelling growth thesis - are just a much lower priority now." BACK TO BITCOIN? Bitcoin\'s status as the original "digital gold" has supported it somewhat, outperforming ether with declines of about 2% this month. Bitcoin-focused ETFs saw inflows of $43 million in the week of Oct. 2, while bitcoin\'s share of the cryptocurrency market cap has crept up to 48% from 47%. Ether prices have risen 32% this year, lagging bitcoin which is up over 70%. The newly launched ETFs tracking solely ether futures on the Chicago Mercantile Exchange, from ProShares, VanEck and Bitwise, have all dipped over 6% since launch. ProShares and Bitwise also launched funds tracking a mixture of bitcoin and ether futures, while Valkyrie Funds converted its pure-play bitcoin ETF into one with exposure to both bitcoin and ether. These dual-exposure funds have performed better, with Bitwise\'s and ProShares\' down about 3% and Valkyrie\'s edging up 0.3%. McMillan at IDX noted that while the response to the ether futures ETFs has been underwhelming, factors such as the use of the Ethereum blockchain by large financial firms in tokenizing assets could bring investors back to the table. "Right now, the macro backdrop is dominating everything." (Reporting by Lisa Pauline Mattackal in Bengaluru; Graphic by Sumanta Sen; Editing by Tom Wilson and Pravin Char)', 'By Lisa Pauline Mattackal\n(Reuters) - The weak crypto market is wobbling through autumn. And winter\'s on its way.\nThe long-anticipated U.S. launch of a group of exchange-traded funds tracking ether offered fresh evidence of the malaise at a time when investors are running from risk amid economic gloom and war in Ukraine and the Middle East.\nThe six ETFs launched on Oct. 2 offering exposure to ether futures contracts pulled in just under $10 million in their first week of trading, according to CoinShares data. Ethereum products overall saw outflows of $7.5 million in the week to Oct. 13, the data shows.\n"The timing of the futures ETFs could hardly be worse," said Vetle Lunde, senior analyst at K33 Research.\nThe week of Oct. 2 saw Treasury yields soar to their highest level in decades, while investors pulled money from riskier assets in the face of "higher-for-longer" interest rates.\nEther prices have dropped over 5% so far this month and the size of the cryptocurrency market has dipped from $1.15 trillion to $1.12 trillion, according to CoinGecko.\nTrading volumes for the ether futures ETFs remained below $2 million on their first day, according to K33 Research. By contrast, the ProShares Bitcoin Strategy ETF, the first fund tracking bitcoin futures, saw around $570 million of inflows in its first day of trading in October 2021.\nThe contrast with ETF launches during the height of the crypto craze in 2021 show how the institutional investors who drove much of the demand back then have retreated from digital assets as the macro picture has grown murkier and murkier.\nCrypto ETFs have experienced a slowdown in activity for months, with Lunde noting bitcoin ones globally had seen net outflows of 11,157 bitcoin between Aug. 1 and Oct. 3. Such funds are favored by many traditional investors as they offer easier access via regular stock exchanges without needing to directly hold crypto.\nBen McMillan, chief investment officer at IDX Digital Assets, said his firm was positioning investments more defensively until there was more clarity around Federal Reserve policy and the likelihood of a recession.\n"Investors are battening down the hatches and looking at how to make their portfolios more defensive," McMillan added. "Speculative assets - even with a compelling growth thesis - are just a much lower priority now."\nBACK TO BITCOIN?\nBitcoin\'s status as the original "digital gold" has supported it somewhat, outperforming ether with declines of about 2% this month. Bitcoin-focused ETFs saw inflows of $43 million in the week of Oct. 2, while bitcoin\'s share of the cryptocurrency market cap has crept up to 48% from 47%.\nEther prices have risen 32% this year, lagging bitcoin which is up over 70%.\nThe newly launched ETFs tracking solely ether futures on the Chicago Mercantile Exchange, from ProShares, VanEck and Bitwise, have all dipped over 6% since launch.\nProShares and Bitwise also launched funds tracking a mixture of bitcoin and ether futures, while Valkyrie Funds converted its pure-play bitcoin ETF into one with exposure to both bitcoin and ether. These dual-exposure funds have performed better, with Bitwise\'s and ProShares\' down about 3% and Valkyrie\'s edging up 0.3%.\nMcMillan at IDX noted that while the response to the ether futures ETFs has been underwhelming, factors such as the use of the Ethereum blockchain by large financial firms in tokenizing assets could bring investors back to the table.\n"Right now, the macro backdrop is dominating everything."\n(Reporting by Lisa Pauline Mattackal in Bengaluru; Graphic by Sumanta Sen; Editing by Tom Wilson and Pravin Char)', "Binance has long been the world's largest cryptocurrency exchange by trading volumes. Still, on Monday, traders looking to buy and sell bitcoin (BTC) quickly on Binance were at a relative disadvantage to their peers on Kraken and Coinbase (COIN), according to data tracked by Paris-based Kaiko. The 0.1% ask depth on Binance, a measure of buy-side liquidity, crashed to just 1.2 BTC ($30,000) from 100 BTC as volatility exploded after a false report of BlackRock's (BLK) spot exchange-traded fund (ETF) approval circulated on social media. The leading cryptocurrency popped 7.5% to $30,000 in a knee-jerk reaction to the rumor, only to give up gains after BlackRock denied the report. The 0.1% ask depth refers to the number of outstanding purchase orders within 0.1% of the mid-price or average of the bid and ask prices. Ask price is the price at which the seller is ready to sell and bid is the value at which the buyer is ready to purchase. The higher the bid and ask depth, the easier it is to execute large buy and sell orders at stable prices and the lower the slippage – the difference between the expected price at which a trade is placed and the actual price at which the trade goes through. The 0.1% depth also dipped as low as 2 BTC on OKX and Bybit, with the average ask across major exchanges falling below 95 BTC. The broad-based decline in liquidity saw several market participants, including pseudonymous traders exitpump and Omz , lose money due to slippage. Some traders saw slippage as high as 20% . Liquidity, as measured by the 0.1% market depth on major exchanges, crashed on major exchanges. (Kaiko) The chart shows Kraken and Coinbase outperformed Binance and other exchanges during the liquidity meltdown. The sticky liquidity on the two exchanges likely reflects the relative sophistication of their market makers - entities tasked with creating liquidity in an order book, according to Carey.", 'By Selena Li HONG KONG, Oct 17 (Reuters) - Asian stocks made some cautious gains on Tuesday, with investors choosing to focus on corporate earnings prospects and the resilience of the U.S. economy ahead of tensions in the Middle East. MSCI\'s broadest index of Asia-Pacific shares outside Japan advanced 0.58%. Tokyo\'s Nikkei rose 0.89%. Overnight the S&P 500 had climbed 1%, while oil prices and the U.S. dollar had fallen. A host of "favorable" signs from the strength of the U.S. consumer, economic growth, and interest rates supporting bank profits, gave reasons for hope, said Kerry Craig, a global market strategist at J.P. Morgan Asset Management. Quarterly results from Goldman Sachs and Bank of America are due on Tuesday, with Morgan Stanley, pharmaceutical giant Johnson & Johnson, Tesla and Netflix due later in the week. A recent shift in tone from Federal Reserve officials - hinting that interest rate hikes might be over - has also cheered investors and bond markets lately. Benchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7542%. Investors are also trying to assess risks that a wider conflict breaks out in the Middle East which remains a "very fluid situation", Craig said. U.S. President Joe Biden will visit Israel on Wednesday as the country prepares to escalate an offensive against Hamas militants that has set off a humanitarian crisis in Gaza and raised fears of a broader conflict with Iran. Iran\'s Foreign Minister said Israel would not be allowed to act in Gaza without consequences, warning of "preemptive action" by the "resistance front" in the coming hours. Israel\'s shekel weakened beyond 4-to-the-dollar for the first time since 2015 on Monday, as it bears some of the brunt of worry and uncertainty about the Gaza situation. In other developements, Russian President Vladimir Putin on Tuesday arrived in Beijing to meet with Chinese President Xi Jinping even as the war in Ukraine raged on. Story continues The widely watched trip is aimed at showcasing the trust and "no-limits" partnership between the two countries, as Beijing is moving to strengthen ties with counties for its infrastructure-focused Belt and Road initiative. In currency markets the Australian dollar ticked up a little to $0.6352 as minutes from the most recent central bank meeting struck a surprisingly hawkish tone, while the U.S. dollar steadied elsewhere. A slowdown in New Zealand inflation to a two-year low dented bets on any further interest rate hikes and the kiwi, which extended earlier losses to be down 0.54% at $0.5906. The euro traded at $1.0525 and the yen hovered just short of the 150-per-dollar mark at 149.6. China\'s property sector, meanwhile, edged toward deeper trouble with Tuesday marking the end of a 30-day grace period on a late payment from developer Country Garden. If investors don\'t receive the coupon payment, all of Country Garden\'s offshore debts will be deemed in default. The property sector was flat while the Hang Seng rose 0.7% on Tuesday. A mainland real estate index fell 0.77%. Gold edged away from Friday\'s three-week high and was last at $1,914.3 an ounce. Brent crude futures had dropped more than $1 a barrel on Monday on hopes for an agreement that the U.S. will ease sanctions on Venezuelan oil. Brent futures retrieved earlier losses of 0.25% to stand back at $89.66 a barrel on Tuesday. Bitcoin had leapt on Monday before giving up gains after BlackRock denied a report that it had won approval for a bitcoin exchange traded fund. It was last at $28,161 after trading as high as $29.900 on Monday. (Reporting by Selena Li Editing by Shri Navaratnam)', 'By Selena Li\nHONG KONG, Oct 17 (Reuters) - Asian stocks made some cautious gains on Tuesday, with investors choosing to focus on corporate earnings prospects and the resilience of the U.S. economy ahead of tensions in the Middle East.\nMSCI\'s broadest index of Asia-Pacific shares outside Japan advanced 0.58%. Tokyo\'s Nikkei rose 0.89%.\nOvernight the S&P 500 had climbed 1%, while oil prices and the U.S. dollar had fallen.\nA host of "favorable" signs from the strength of the U.S. consumer, economic growth, and interest rates supporting bank profits, gave reasons for hope, said Kerry Craig, a global market strategist at J.P. Morgan Asset Management.\nQuarterly results from Goldman Sachs and Bank of America are due on Tuesday, with Morgan Stanley, pharmaceutical giant Johnson & Johnson, Tesla and Netflix due later in the week.\nA recent shift in tone from Federal Reserve officials - hinting that interest rate hikes might be over - has also cheered investors and bond markets lately.\nBenchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7542%.\nInvestors are also trying to assess risks that a wider conflict breaks out in the Middle East which remains a "very fluid situation", Craig said.\nU.S. President Joe Biden will visit Israel on Wednesday as the country prepares to escalate an offensive against Hamas militants that has set off a humanitarian crisis in Gaza and raised fears of a broader conflict with Iran.\nIran\'s Foreign Minister said Israel would not be allowed to act in Gaza without consequences, warning of "preemptive action" by the "resistance front" in the coming hours.\nIsrael\'s shekel weakened beyond 4-to-the-dollar for the first time since 2015 on Monday, as it bears some of the brunt of worry and uncertainty about the Gaza situation.\nIn other developements, Russian President Vladimir Putin on Tuesday arrived in Beijing to meet with Chinese President Xi Jinping even as the war in Ukraine raged on.\nThe widely watched trip is aimed at showcasing the trust and "no-limits" partnership between the two countries, as Beijing is moving to strengthen ties with counties for its infrastructure-focused Belt and Road initiative.\nIn currency markets the Australian dollar ticked up a little to $0.6352 as minutes from the most recent central bank meeting struck a surprisingly hawkish tone, while the U.S. dollar steadied elsewhere.\nA slowdown in New Zealand inflation to a two-year low dented bets on any further interest rate hikes and the kiwi, which extended earlier losses to be down 0.54% at $0.5906.\nThe euro traded at $1.0525 and the yen hovered just short of the 150-per-dollar mark at 149.6.\nChina\'s property sector, meanwhile, edged toward deeper trouble with Tuesday marking the end of a 30-day grace period on a late payment from developer Country Garden. If investors don\'t receive the coupon payment, all of Country Garden\'s offshore debts will be deemed in default.\nThe property sector was flat while the Hang Seng rose 0.7% on Tuesday. A mainland real estate index fell 0.77%.\nGold edged away from Friday\'s three-week high and was last at $1,914.3 an ounce. Brent crude futures had dropped more than $1 a barrel on Monday on hopes for an agreement that the U.S. will ease sanctions on Venezuelan oil.\nBrent futures retrieved earlier losses of 0.25% to stand back at $89.66 a barrel on Tuesday.\nBitcoin had leapt on Monday before giving up gains after BlackRock denied a report that it had won approval for a bitcoin exchange traded fund.\nIt was last at $28,161 after trading as high as $29.900 on Monday.\n(Reporting by Selena Li Editing by Shri Navaratnam)', 'Bitcoin\'s (BTC) dominance rate or share in the overall crypto market continues to rise, threatening to reverse alternative cryptocurrencies (altcoins) BTC-beating rally from early 2021.\nThe dominance rate rose to 52.45% on Monday, reaching the highest since April 2021, according to data tracked by the charting platform TradingView.\nThe ascent is consistent with the bullish breakout seen in June, which marked the end of a prolonged range play between 38% and 48%.\nAccording to technical analysis by Fairlead Strategies, it’s likely to continue in the coming days, reversing the decline from 60% to 40% seen during the hazy crypto bull market days of March-April 2021. Investors then rotated money from the relatively expensive bitcoin into altcoins, leading to a decline in BTC\'s dominance rate.\n"The index is poised to extend higher, especially after resolving a two-year trading range higher this summer," Katie Stockton, founder and managing partner at Fairlead Strategies, said in a note to clients on Monday.\n"Our long-term trend-following indicators also support more bitcoin dominance, and there is room to the next resistance. We expect bitcoin to outperform altcoins, further reversing altcoin gains made in 1H2021," Stockton added.\nThe focus will shift to key Fibonacci resistance at 60.17% once the dominance rate establishes a foothold above the June high of 52.18%. As of writing, the dominance rate stood at 51.68%.', 'Bitcoin\'s (BTC) dominance rate or share in the overall crypto market continues to rise, threatening to reverse alternative cryptocurrencies (altcoins) BTC-beating rally from early 2021.\nThe dominance rate rose to 52.45% on Monday, reaching the highest since April 2021, according to data tracked by the charting platform TradingView.\nThe ascent is consistent with the bullish breakout seen in June, which marked the end of a prolonged range play between 38% and 48%.\nAccording to technical analysis by Fairlead Strategies, it’s likely to continue in the coming days, reversing the decline from 60% to 40% seen during the hazy crypto bull market days of March-April 2021. Investors then rotated money from the relatively expensive bitcoin into altcoins, leading to a decline in BTC\'s dominance rate.\n"The index is poised to extend higher, especially after resolving a two-year trading range higher this summer," Katie Stockton, founder and managing partner at Fairlead Strategies, said in a note to clients on Monday.\n"Our long-term trend-following indicators also support more bitcoin dominance, and there is room to the next resistance. We expect bitcoin to outperform altcoins, further reversing altcoin gains made in 1H2021," Stockton added.\nThe focus will shift to key Fibonacci resistance at 60.17% once the dominance rate establishes a foothold above the June high of 52.18%. As of writing, the dominance rate stood at 51.68%.', 'Bitcoin\'s (BTC) dominance rate or share in the overall crypto market continues to rise, threatening to reverse alternative cryptocurrencies (altcoins) BTC-beating rally from early 2021. The dominance rate rose to 52.45% on Monday, reaching the highest since April 2021, according to data tracked by the charting platform TradingView. The ascent is consistent with the bullish breakout seen in June, which marked the end of a prolonged range play between 38% and 48%. According to technical analysis by Fairlead Strategies, it’s likely to continue in the coming days, reversing the decline from 60% to 40% seen during the hazy crypto bull market days of March-April 2021. Investors then rotated money from the relatively expensive bitcoin into altcoins, leading to a decline in BTC\'s dominance rate. "The index is poised to extend higher, especially after resolving a two-year trading range higher this summer," Katie Stockton, founder and managing partner at Fairlead Strategies, said in a note to clients on Monday. "Our long-term trend-following indicators also support more bitcoin dominance, and there is room to the next resistance. We expect bitcoin to outperform altcoins, further reversing altcoin gains made in 1H2021," Stockton added. BTC dominance index (TradingView/Fairlead Strategies) The focus will shift to key Fibonacci resistance at 60.17% once the dominance rate establishes a foothold above the June high of 52.18%. As of writing, the dominance rate stood at 51.68%.', 'Over US$57 million worth of Bitcoin long positions have been liquidated in the 24 hours leading up to 2:40 p.m. in Hong Kong after a post on X (formerly Twitter) falsely claimed that the Securities and Exchange Commission (SEC) approved BlackRock’s spot exchange-traded fund (ETF).\nSee related article:Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict\n• While the false post wasdeletedin less than 30 minutes, it was mistakenly reported as fact by crypto news outlet Cointelegraph, sparking a flurry of trading.\n• The US$57.15 million worth of total long position liquidations included US$13.6 million in the first hour alone, according to crypto futures market data providerCoinglass.\n• The fake post initially boosted Bitcoin’s price to a two-month high of US$29,388, with US$52.63 million worth of short positions liquidated in the hour leading up to 9:00 p.m. in Hong Kong Monday.\n• That brings the amount of total liquidations to US$154.4 million in the past 24 hours, with US$97.07 million of those in short positions.\n• Liquidation refers to an exchange forcefully closing a trading position due to a partial or total loss of the trader’s initial margin.\n• BlackRock’s iShares spot Bitcoin ETFapplication is still under review. The SEC’s final deadline to respond to BlackRock’s application is March 15, 2024.\n• Many believe that SEC approval of a spot Bitcoin ETF for the U.S. will be a watershed moment for crypto, as it would theoretically open the door for an influx of institutional investment into the industry.\nSee related article:BlackRock shares go digital on JPMorgan’s Onyx blockchain', 'Over US$57 million worth of Bitcoin long positions have been liquidated in the 24 hours leading up to 2:40 p.m. in Hong Kong after a post on X (formerly Twitter) falsely claimed that the Securities and Exchange Commission (SEC) approved BlackRock’s spot exchange-traded fund (ETF).\nSee related article:Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict\n• While the false post wasdeletedin less than 30 minutes, it was mistakenly reported as fact by crypto news outlet Cointelegraph, sparking a flurry of trading.\n• The US$57.15 million worth of total long position liquidations included US$13.6 million in the first hour alone, according to crypto futures market data providerCoinglass.\n• The fake post initially boosted Bitcoin’s price to a two-month high of US$29,388, with US$52.63 million worth of short positions liquidated in the hour leading up to 9:00 p.m. in Hong Kong Monday.\n• That brings the amount of total liquidations to US$154.4 million in the past 24 hours, with US$97.07 million of those in short positions.\n• Liquidation refers to an exchange forcefully closing a trading position due to a partial or total loss of the trader’s initial margin.\n• BlackRock’s iShares spot Bitcoin ETFapplication is still under review. The SEC’s final deadline to respond to BlackRock’s application is March 15, 2024.\n• Many believe that SEC approval of a spot Bitcoin ETF for the U.S. will be a watershed moment for crypto, as it would theoretically open the door for an influx of institutional investment into the industry.\nSee related article:BlackRock shares go digital on JPMorgan’s Onyx blockchain', 'Over US$57 million worth of Bitcoin long positions have been liquidated in the 24 hours leading up to 2:40 p.m. in Hong Kong after a post on X (formerly Twitter) falsely claimed that the Securities and Exchange Commission (SEC) approved BlackRock’s spot exchange-traded fund (ETF). See related article: Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict Fast Facts While the false post was deleted in less than 30 minutes, it was mistakenly reported as fact by crypto news outlet Cointelegraph, sparking a flurry of trading. The US$57.15 million worth of total long position liquidations included US$13.6 million in the first hour alone, according to crypto futures market data provider Coinglass . The fake post initially boosted Bitcoin’s price to a two-month high of US$29,388, with US$52.63 million worth of short positions liquidated in the hour leading up to 9:00 p.m. in Hong Kong Monday. That brings the amount of total liquidations to US$154.4 million in the past 24 hours, with US$97.07 million of those in short positions. Liquidation refers to an exchange forcefully closing a trading position due to a partial or total loss of the trader’s initial margin. BlackRock’s iShares spot Bitcoin ETF application is still under review. The SEC’s final deadline to respond to BlackRock’s application is March 15, 2024. Many believe that SEC approval of a spot Bitcoin ETF for the U.S. will be a watershed moment for crypto, as it would theoretically open the door for an influx of institutional investment into the industry. See related article: BlackRock shares go digital on JPMorgan’s Onyx blockchain', 'Bitcoin (BTC) stood above the $28,400 level in European morning hours on Tuesday amid generally positive sentiment about the asset’s near-term future and a fundamental crypto law signed in the U.S., which likely helped buoy prices. California Governor Gavin Newsom signed a crypto licensing bill on Friday, set to take effect in July 2025, in a move that could help benefit crypto businesses in the state and likely aid long-term industry growth. Bulls seemed unfazed by the fake reports of BlackRock’s (BLK) spot bitcoin ETF being approved, which led to massive price volatility on Monday and saw bitcoin whipsaw to $30,000 and down to $27,900 before settling. Meanwhile, in a FOX Business interview , BlackRock CEO Larry Fink said the rally was suggestive of the "pent up interest in crypto." "I think there\'s more people running into a flight to quality, whether that is in Treasuries, gold or crypto, depending on how you think of it. And I believe crypto will play that type of role, as a flight to quality," Fink said. Read more: Bitcoin Jumps to $30K, Then Dumps, as False Spot ETF Approval Report Circulates In the past 24 hours, bitcoin gained 2.1% to extend a two-day gain streak, while ether (ETH) and BNB Chain’s BNB tokens were little changed. Solana’s SOL jumped 6% to lead gains among crypto majors, while XRP and Cardano’s ADA lost as much as 0.3%. The CoinDesk Market Index, a broad-based tracker of hundreds of tokens, popped 1.24%. Tokens of popular decentralized exchange Uniswap (UNI) slipped 3% as traders reacted to the platform introducing a 0.15% swap fee for each trade made – which invoked mixed reactions among industry watchers on social app X. Some market analysts said the appeal of crypto investing remained among investors, citing risk against reward opportunities. “Relative to other assets, the risk vs. reward (or upside vs. downside) of crypto looks much better relative to other asset classes,” said Solo Cessay, co-founder of social app Calaxy, in a note to CoinDesk. “Crypto looks like it has the best upside vs. downside potential, given the current asset prices. Real estate, the S&P 500 - everything is still trading near all-time highs.” Story continues Elsewhere, analysts at crypto Bitfinex shared in a weekly note that short-term bitcoin holders, or wallet addresses that move bitcoin in under six months, accounted for only 19.34% of the circulating supply, indicating a strong “holding sentiment.” However, the Bitfinex analysts flagged market risks related to spot trading volumes on crypto hitting multi-year lows and rapidly increasing use of leverage among traders – creating a situation where prices can move quickly and cause outsized liquidations, such as those on Monday . Read more: Bitcoin\'s Rising Dominance Rate Challenges Altcoin Boom From 2021', 'Binance, the world’s largest cryptocurrency exchange, stopped accepting new customers in the United Kingdom in compliance with new regulations restricting foreign firms from promoting digital assets in the country. See related article: Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict Fast Fact Binance stopped accepting new registrations as of 5 p.m. Monday in the U.K. (12:00 a.m. in Hong Kong). The exchange said existing users in the U.K. will have their services unaffected. The Financial Conduct Authority (FCA) revoked the exchange’s U.K. permissions at Binance’s request earlier this year after the regulator raised concerns about the firm’s ambiguous corporate structure in 2021. On Oct. 8, Binance attempted to reinstate some local services with partner, Rebuildingsociety.com Ltd, a regulated entity. On Oct. 10, the FCA intervened and asked Rebuildingsociety to withdraw any existing approvals. “Binance is currently looking for a new FCA authorised approver. However, there will be some temporary restrictions coming into effect on our Platform,” the company said. As of October 8, following changes to the U.K.’s Financial Services and Markets Act (FSMA) , it is now a criminal offense for unlicensed crypto firms to advertise digital asset products in the country. The exchange has been facing regulatory challenges worldwide, including in the U.S., where Binance has been sued by the Securities and Exchange Commission and the Commodities Futures Trading Commission earlier this year. See related article: BlackRock shares go digital on JPMorgan’s Onyx blockchain', 'Binance, the world’s largest cryptocurrency exchange, stopped accepting new customers in the United Kingdom in compliance with new regulations restricting foreign firms from promoting digital assets in the country.\nSee related article:Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict\n• Binance stopped accepting new registrations as of 5 p.m. Monday in the U.K. (12:00 a.m. in Hong Kong). The exchangesaidexisting users in the U.K. will have their services unaffected.\n• The Financial Conduct Authority (FCA) revoked the exchange’s U.K. permissions at Binance’s request earlier this year after the regulator raised concerns about the firm’s ambiguous corporate structure in 2021. On Oct. 8, Binance attempted to reinstate some local services with partner, Rebuildingsociety.com Ltd, a regulated entity.\n• On Oct. 10, the FCA intervened and asked Rebuildingsociety towithdrawany existing approvals.\n• “Binance is currently looking for a new FCA authorised approver. However, there will be some temporary restrictions coming into effect on our Platform,” the company said.\n• As of October 8, following changes to the U.K.’sFinancial Services and Markets Act (FSMA), it is now a criminal offense for unlicensed crypto firms to advertise digital asset products in the country.\n• The exchange has been facing regulatory challenges worldwide, including in the U.S., whereBinance has been suedby the Securities and Exchange Commission and theCommodities Futures Trading Commissionearlier this year.\nSee related article:BlackRock shares go digital on JPMorgan’s Onyx blockchain', 'Hong Kong-based BC Technology Group Limited, the parent company of t
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-17
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $555,205,392,000
- Hash Rate: 491483968.444345
- Transaction Count: 294257.0
- Unique Addresses: 645537.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.52
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: US Markets
• RPM International, Acuity Brands And 3 Stocks To Watch Heading Into Wednesday
• PIMCO Co-Founder Bill Gross Says 10-Year Treasury Yield Could Spike To 5% Soon
• Fear & Greed Index Moves To 'Extreme Fear' Zone Amid Surge In Treasury Yields
• Here's Why Real Estate Stocks Got Crushed Tuesday
• Trump's SPAC Partner Digital World, Novavax, Palantir, And Tesla: Why These Stocks Are Trending Today?
Crypto
• 'Satoshi Nakamoto' Handle Tweets 2024 Halving Will Pave The Way For Transaction Fee Supremacy: 'They Want To Silence You'
• Why Ripple's XRP Token Is Surging Over 5% Today?
• Bitcoin, Ethereum, Dogecoin Tumble Amid Recession Worries: Analyst Says 'Uptober Has Been Temporarily Postponed'
US Politics
• Who's The Next House Speaker? A Look Into The Uncertainty Following Kevin McCarthy's Removal
• Pro-Trump Historian Nitpicks Timing Of Ex-Presidential Aides' 'Mysterious' Outrage Amid 'Real And Planned' Damage To Institutions
• From Allies To Critics: 24 Former Trump Aides Who Switched Sides
• Kevin McCarthy Would Lose More Than Just The House Speaker's Position: Here's All At Stake
• Kevin McCarthy Claps Back At Republicans Who Ousted Him: 'They Don't Get To Say They're Conservative'
• Former White House Aide Accuses Trump Of Reserving 'Worst' Insults For Women Of Color
• Crypto-Friendly Congressman Patrick McHenry Temporarily Assumes Role As US House Speaker
• Trump's Niece Roasts Kevin McCarthy's Brief House Stint As Speaker For 'Approximately 27 Scaramuccis'
• Marjorie Taylor Greene Sounds Alarm Amid Turbulent Times For GOP After Kevin McCarthy Ousted: 'There's Not A Plan'
• Donald Trump Drops Off Forbes 400 Rich List Amid Civil Fraud Trial And Net Worth Scrutiny
• Trump Hit With Gag Order In Civil Fraud Trial — Judge Says Ex-President's Remarks About His Staff, 'Unacceptable, Inappropriate And Will Not Be Tolerated'
• Acting Speaker McHenry Orders Nancy Pelosi To Vacate Capitol Office: 'Please Vacate The Space Tomorrow'
World Politics
• Will Biden-Xi Jinping Clash Intensify? Billionaire Investor Ray Dalio Says 'Neither Country Wants To Go To War'
• Hillary Clinton Slams US Supporters Of Russia's President: 'I Don't Understand Any American Siding With Putin'
• Biden Administration Sting: Surprise Indictments Against Chinese Fentanyl Supply Chain Producers
Electric Vehicles
• Volkswagen Calls On Tesla, Rivian Veteran To Tackle EV Software Challenges
• Nio Vs. Li Auto: Which Chinese EV Startup Is Winning The Stock Race?
• Tesla Takes Cybertruck Testing To Mexico, Introduces New Accessories
• Elon Musk Unveils Tesla's Auto Hazard Safety Upgrade: 'Your Car Just Got Better While You Slept'
• Tesla Bull Shrugs Off Current Phase As 'Pause Into Next Phase Of Growth Story,' Calls UAW Strike A 'Win-Win' For EV Maker
• Cybertruck Tows Raptor Vac At SpaceX Starbase — Is Elon Musk Teasing the Future of Mobility?
Tech
• Apple's Growth Engine Sputtering? Bullish Analyst Lists 4 Factors Behind Stock Downgrade
• Is Cupertino's Next Trick A USB-C-Powered Apple Pencil 3? iOS 17.1 Beta 2 Drops Clues
• Mark Zuckerberg's Meta Reportedly Set To Lay Off Employees In Metaverse Silicon Unit on Wednesday
Communication
• Is MrBeast Really Giving Away 10,000 iPhone 15 Pros On TikTok? Here's What You Need To Know
• Spotify Takes On Amazon's Audible, To Let Premium Users Listen To 15 Hours Of Audio Books
Space
• Elon Musk Says SpaceX Deliveries To Orbit Set To Eclipse Rest Of The World — Here's How Many Tons
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This articleBitcoin, Ethereum, Dogecoin Tumble Amid Recession Worries, Who's The Next House Speaker? - Top Headlines Today While US Was Sleepingoriginally appeared onBenzinga.com
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- Reddit Posts (Sample): [['u/AyLou21', 'Bitcoin', 11, '2023-10-17 03:18', 'https://www.reddit.com/r/ledgerwallet/comments/179me66/bitcoin/', 'I’m trying to get a better understanding of all the different ways my ledger can be compromised.\n\nSeed phrase - say I NEVER make digital or physical copies and my phrase is memory only.\n\nPasscode: same as above - no physical or digital copies. \n\nSmart contract - my understanding is there’s no way to authorize a transaction for BTC from my ledger via smart contract.\n\nWith all this said, is the only way I’ll ever get screwed is if I forget my seed phrase and/or passcode?', 'https://www.reddit.com/r/ledgerwallet/comments/179me66/bitcoin/', '179me66', [['u/RandomTask100', 10, '2023-10-17 08:02', 'https://www.reddit.com/r/ledgerwallet/comments/179me66/bitcoin/k583dcz/', 'I’ve been in this sub for 3 years. Not ONE of these worry-warts have gotten hacked. Every single victim was tricked into typing their seed phrase into a fake LL or they exposed the seedphrase online somehow. Don’t take photos of your seedphrase. Don’t save it in a word doc.', '179me66']]]]...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['When it comes to big ideas, investing guru Cathie Wood has more than a few. As the manager of theArk Investfamily of exchange traded funds (ETFs), Wood boldly predictsBitcoin(BTC-USD)will be worth $1.5 millionby 2030 andTesla(NASDAQ:TSLA) stock will have a $2,000 per share price tag by 2027.So, Wood is not shy aboutlooking to the futureand guessing where the world will be. Her ETFs are representative of some of the most disruptive technologies available. From artificial intelligence (AI), robotics, and autonomous robotaxis to digital payments, electric vehicles, and blockchain technology, they are all part of what Wood says are “technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.” So, when she took notice of several digital leisure stocks, so did we.\nEarlier this year she released herBig Ideas 2023report that’s full of dramatic predictions of life-altering changes to come. One of the boldest forecasts concerns the growth of the digital consumer. That includes spending on online goods and services, non-fungible tokens (NFTs), online sports betting, video game software and services, and streaming video and audio. Expenditures in these fields will grow from not-so-humble beginnings of $6.6 trillion in 2022 to a massive $22.5 trillion opportunity by 2030.\nBecause the investment possibilities span numerous industries, here are seven of the best digital leisure stocks to buy to capitalize on this immense growth trajectory.\nInvestorPlace - Stock Market News, Stock Advice & Trading Tips\nSource: Michael Vi / Shutterstock.com\nConnected TV (CTV) is seen as one of the defining growth markets for the digital consumer. Some 85% of all U.S. households have access to at least one CTV, but their ad market is just 23% of total TV ad spending. The Big Ideas report says “CTV is at an inflection point and will take share from both linear TV and other digital ad budgets.”\nRoku(NASDAQ:ROKU) seems uniquely positioned to benefit from the shift. Thenumber of active Roku accountsgrew 16% in the second quarter from last year to 73.5 million on the strength of its Roku TV licensing program. Roku;s operating system continues to be the top-selling TV OS in the U.S., and Roku’s market share is larger than the next three largest TV OSs combined.\nWood also puts hermoney where her mouthis. Roku is the third largest holding in herArk Innovation ETF(NYSE:ARKK) behind Tesla andCoinbase Global(NASDAQ:COIN) with a current market value of over $535 million.\nWood has a $605 per share price target on Roku stock. That’s a near ten-fold increase needed by 2026 from its current levels. That doesn’t seem possible now, but longer term could be achievable. This stock easily earned its spot on our list of the best digital leisure stocks.\nSource: The Art of Pics / Shutterstock.com\nWood says “the convergence of video games and social media should sustain gaming revenue growth.”Microsoft(NASDAQ:MSFT) is arguably best poised to capture the lion’s share of the money spent here with its acquisition ofActivision Blizzard(NASDAQ:ATVI).\nThe tech giant is about to close its $69 billion takeover of the video game publisher after British regulators signed off on the transaction. That gives Microsoft access to some of the most important gaming titles on the market. Activision’sWorld of Warcraftremains the biggest massively multiplayer online (MMO) game with almost 121 million total players. In comparison, runner upFinal Fantasy XIV Onlinehas nearly 40 million.Call of Dutyalso continues to be a top game franchise with a fresh reboot ofModern Warfare II.\nBecause Microsoft agreed to sell theonline streaming rightsto Activision’s IP portfolio to the U.K.’sUbisoft Entertainment(OTCMKTS:UBSFY), the path to approval was sealed.\nWarren Buffett, however,dumped his Activision stakewhen it seemed like the deal wouldn’t be approved. While he bought shares mostly as an arbitrage play on the transaction, investors in Microsoft can still see the video game publisher take the stock to the next level. If you are looking for digital leisure stocks to buy, this is a great place to start.\nSource: sylv1rob1 / Shutterstock.com\nYou might be surprised to think ofApple(NASDAQ:AAPL) as another top gaming platform, but the tech leader happens to be the third largest player in the space by revenue. How can that be since it doesn’t produce any video games or software on its own? Because it takes a 30% cut of every single transaction made through the App Store, whether an app purchase or an in-game transaction. The commission drops to 15% after a year or if the developer earns less than $1 million in annual App Store sales.\nStill, the $15 billion or so in annual revenue it rakes in makes it amongst the highest sales generators in gaming. Apple announced back in May the App Store had generatedmore than $1.1 trillion in 2022, with two-thirds of that coming from mobile games. Services like App Store are where Apple’sfuture growth will comefrom.\nThe tech stock is also developing its own alternate reality headset, calledApple Vision Pro, or “spatial computing,” as Apple refers to it. It will allow users to feel the physicality of digital objects.\nConsider Apple stock as a backdoor way to get into gaming with a big tech boost to juice returns.\nSource: Tada Images / Shutterstock.com\nAnother play on the CTV market isThe Trade Desk(NYSE:TTD). It is the premier software provider for advertisers targeting specific online audiences. It remains one of the best stocks in the business and is the largest independent demand-side platform. While this may not be the first on you think about when it comes to digital leisure stocks, hear us out on it.\nThe Trade Desk charges its customers a 20% commission for the privilege of buying advertising on its platform. It might appear audacious on its face, but it indicates just how good the company is at what it does.Clients obviously like the results they get because they continue to spend more money on the platform than they did previously. Second quarter revenue jumped 23% year over year with adjusted EBITDA margin increasing 200 basis points to 39%.\nAd buyers also returned in droves, allowing The Trade Desk to achieve a95% customer retention rate. It’s a record it has maintained for over nine consecutive years.\nThe total addressable market for the advertising industry is moving rapidly toward $1 trillion. Notably, the privacy features Apple recently launched for iOS users that created a huge tumult in the online ad industry imposelittle to no impacton The Trade Desk’s business.\nAs Wood notes, digital advertising has a long runway of growth pushed higher by the CTV tailwind. Look for The Trade Desk to ride that wave for years to come.\nSource: Ascannio / Shutterstock.com\nWith four of the biggest social media apps to its name,Meta Platforms(NASDAQ:META) will also win the digital ad game. Wood points out that because 40% of Gen Z consumers use the likes of TikTok and Instagram to search the way their parents use Google, “social platforms with the best recommendation engines should command the majority of ad budgets.”\nMeta, of course, owns Instagram, along with Facebook, WhatsApp, and Messenger. Its Threads “Twitter killer app” remains a work in progress. Its primary social media apps have a combined 3.9 billion monthly active users. Because there are an estimated4.9 billion social media users worldwide, or 60% of the global population, Meta has an outsized influence on what people see and hear.\nTikTok is a threat to be sure. As of 2022, it accounted for just $10 billion in search, video, and social media advertising, or about 2% of the $470 billion total. Yet it is rapidly nearing exceeding that taken in by Facebook, Instagram, Snapchat, and Twitter.\nStill, Meta’s willingness to “borrow” the best ideas from its competitors means it should do well for the foreseeable future. Its TikTok knockoff Reelsenjoys over 200 billion daily plays. New ad features could result in the apps becoming substantial revenue contributors on their own.\nSource: Lori Butcher / Shutterstock.com\nOne of the remaining big avenues for digital leisure spending is online sports betting. After the Supreme Court struck down a ban on sports betting as unconstitutional in 2018, it spread to 36 states.DraftKings(NASDAQ:DKNG) is the second largest sportsbook behindFlutter Entertainment‘s (OTCMKTS:PDYPF) FanDuel and operates in 21 states.\nDraftKings has2.1 million active monthly users, or abouthalf of FanDuel’s total. Yet FanDuel’s market share slipped to 47% from 50% while DraftKing’s share grew to 35%. That’s DraftKing’s highest share in three years.\nWood’s Big Ideas report forecasts online sports betting will expand at a 27% compounded annual growth rate through 2027. The industry will hit $330 billion in volume by then. That’s far faster than the 11% growth rate estimated for in-person betting, which will total just $27 billion.\nThere may be more states coming online too. Kentucky, North Carolina, Vermont, and Puerto Rico all passed legislation that will allow for mobile sports betting. An additional 12 states are considering allowing it as well.\nOnline gambling could provide additional growth in the future. After its acquisition of Golden Nugget Online Gaming in 2022, DraftKings is now the market share leader in a number of states. Most of the share loss has come from rivalMGM Resorts(NYSE:MGM).\nWood recentlysold off some of her stakein DraftKings. She was taking profits after the sportsbook’s meteoric rise this year. Shares are up 150% so far. The investing guru owns about 13.3 million shares, down from her peak holdings of 24 million shares a year ago. Still, it’s a serious commitment to the sportsbook. DraftKings is rapidly changing the game for all digital leisure stocks.\nSource: Fabio Principe / Shutterstock.com\nFilling out the card in the seventh spot is music streaming platformSpotfiy(NYSE:SPOT). It is theworld’s largest audio streaming companywith 551 million monthly active users. Of that total, 220 million are premium subscribers. It added record numbers of new users in the second quarter. Revenue from subscription-based and ad-supported channels are growing at double-digit rates.\nYet there’s no doubt Spotify deserves the fair bit of criticism it comes in for from critics. It is all too willing to throw money at a perceived opportunity. The $200 million Spotify spent to lure Joe Rogan to the platform is arguably well spent. Other initiatives leave itwith mounting losses. Losses doubled in the second quarter from the year-ago period and widened from the first quarter.\nThe stock doubled in value this year and it holds lofty valuations. Yet it is the leader despite some well-financed rivals like Apple Music and YouTube Music. Spotify, though, remains the go-to destination. Management says it is reining in spending, being more targeted in its efforts. CEO Daniel Elk told investors earlier this year, “In hindsight, I probably got a little carried away and overinvested.” He’s being more tight-fisted now andfired 6% of Spotify’s employees.\nSpotify stock may be theriskiest of the bunchin terms of valuation. As a long-term investment, it should be a good bet on the rise of the digital consumer.\nOn the date of publication, Rich Duprey did not have (either directly or indirectly) any positions in the securities mentioned in this article.\xa0The opinions expressed in this article are those of the writer, subject to the\xa0InvestorPlace.comPublishing Guidelines.\nRich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets.\n• Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.\n• ChatGPT IPO Could Shock the World, Make This Move Before the Announcement\n• The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors\nThe post7 Stocks to Cash In on This Little-Known $22.5 Trillion Opportunityappeared first onInvestorPlace.', 'When it comes to big ideas, investing guru Cathie Wood has more than a few. As the manager of the Ark Invest family of exchange traded funds (ETFs), Wood boldly predicts Bitcoin ( BTC-USD ) will be worth $1.5 million by 2030 and Tesla (NASDAQ: TSLA ) stock will have a $2,000 per share price tag by 2027. So, Wood is not shy about looking to the future and guessing where the world will be. Her ETFs are representative of some of the most disruptive technologies available. From artificial intelligence ( AI ), robotics, and autonomous robotaxis to digital payments, electric vehicles, and blockchain technology, they are all part of what Wood says are “technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.” So, when she took notice of several digital leisure stocks, so did we. Earlier this year she released her Big Ideas 2023 report that’s full of dramatic predictions of life-altering changes to come. One of the boldest forecasts concerns the growth of the digital consumer. That includes spending on online goods and services, non-fungible tokens (NFTs), online sports betting, video game software and services, and streaming video and audio. Expenditures in these fields will grow from not-so-humble beginnings of $6.6 trillion in 2022 to a massive $22.5 trillion opportunity by 2030. Because the investment possibilities span numerous industries, here are seven of the best digital leisure stocks to buy to capitalize on this immense growth trajectory. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Roku (ROKU) ROKU Stock Will Continue Benefitting From the TCL Partnership Source: Michael Vi / Shutterstock.com Connected TV ( CTV ) is seen as one of the defining growth markets for the digital consumer. Some 85% of all U.S. households have access to at least one CTV, but their ad market is just 23% of total TV ad spending. The Big Ideas report says “CTV is at an inflection point and will take share from both linear TV and other digital ad budgets.” Roku (NASDAQ: ROKU ) seems uniquely positioned to benefit from the shift. The number of active Roku accounts grew 16% in the second quarter from last year to 73.5 million on the strength of its Roku TV licensing program. Roku;s operating system continues to be the top-selling TV OS in the U.S., and Roku’s market share is larger than the next three largest TV OSs combined. Wood also puts her money where her mouth is. Roku is the third largest holding in her Ark Innovation ETF (NYSE: ARKK ) behind Tesla and Coinbase Global (NASDAQ: COIN ) with a current market value of over $535 million. Wood has a $605 per share price target on Roku stock. That’s a near ten-fold increase needed by 2026 from its current levels. That doesn’t seem possible now, but longer term could be achievable. This stock easily earned its spot on our list of the best digital leisure stocks. Story continues Microsoft ( MSFT ) Microsoft logo close up. Microsoft (MSFT) Flagship Store Fifth Avenue, Manhattan, NYC. Source: The Art of Pics / Shutterstock.com Wood says “the convergence of video games and social media should sustain gaming revenue growth.” Microsoft (NASDAQ: MSFT ) is arguably best poised to capture the lion’s share of the money spent here with its acquisition of Activision Blizzard (NASDAQ: ATVI ). The tech giant is about to close its $69 billion takeover of the video game publisher after British regulators signed off on the transaction. That gives Microsoft access to some of the most important gaming titles on the market. Activision’s World of Warcraft remains the biggest massively multiplayer online (MMO) game with almost 121 million total players. In comparison, runner up Final Fantasy XIV Online has nearly 40 million. Call of Duty also continues to be a top game franchise with a fresh reboot of Modern Warfare II . Because Microsoft agreed to sell the online streaming rights to Activision’s IP portfolio to the U.K.’s Ubisoft Entertainment (OTCMKTS: UBSFY ), the path to approval was sealed. Warren Buffett, however, dumped his Activision stake when it seemed like the deal wouldn’t be approved. While he bought shares mostly as an arbitrage play on the transaction, investors in Microsoft can still see the video game publisher take the stock to the next level. If you are looking for digital leisure stocks to buy, this is a great place to start. Apple (AAPL) Apple (AAPL) logo brand and text sign on entrance facade store American multinational boutique corporation dealership shop. Apple Layoffs Source: sylv1rob1 / Shutterstock.com You might be surprised to think of Apple (NASDAQ: AAPL ) as another top gaming platform, but the tech leader happens to be the third largest player in the space by revenue. How can that be since it doesn’t produce any video games or software on its own? Because it takes a 30% cut of every single transaction made through the App Store, whether an app purchase or an in-game transaction. The commission drops to 15% after a year or if the developer earns less than $1 million in annual App Store sales. Still, the $15 billion or so in annual revenue it rakes in makes it amongst the highest sales generators in gaming. Apple announced back in May the App Store had generated more than $1.1 trillion in 2022 , with two-thirds of that coming from mobile games. Services like App Store are where Apple’s future growth will come from. The tech stock is also developing its own alternate reality headset, called Apple Vision Pro , or “spatial computing,” as Apple refers to it. It will allow users to feel the physicality of digital objects. Consider Apple stock as a backdoor way to get into gaming with a big tech boost to juice returns. The Trade Desk ( TTD ) The logo for The Trade Desk is displayed on a smart phone. Source: Tada Images / Shutterstock.com Another play on the CTV market is The Trade Desk (NYSE: TTD ). It is the premier software provider for advertisers targeting specific online audiences. It remains one of the best stocks in the business and is the largest independent demand-side platform. While this may not be the first on you think about when it comes to digital leisure stocks, hear us out on it. The Trade Desk charges its customers a 20% commission for the privilege of buying advertising on its platform. It might appear audacious on its face, but it indicates just how good the company is at what it does. Clients obviously like the results they get because they continue to spend more money on the platform than they did previously. Second quarter revenue jumped 23% year over year with adjusted EBITDA margin increasing 200 basis points to 39%. Ad buyers also returned in droves, allowing The Trade Desk to achieve a 95% customer retention rate . It’s a record it has maintained for over nine consecutive years. The total addressable market for the advertising industry is moving rapidly toward $1 trillion. Notably, the privacy features Apple recently launched for iOS users that created a huge tumult in the online ad industry impose little to no impact on The Trade Desk’s business. As Wood notes, digital advertising has a long runway of growth pushed higher by the CTV tailwind. Look for The Trade Desk to ride that wave for years to come. Meta Platforms ( META ) Threads app logo seen on screen. Instagram Threads app is a micro blogging platform, developed by Facebook Meta. Source: Ascannio / Shutterstock.com With four of the biggest social media apps to its name, Meta Platforms (NASDAQ: META ) will also win the digital ad game. Wood points out that because 40% of Gen Z consumers use the likes of TikTok and Instagram to search the way their parents use Google, “social platforms with the best recommendation engines should command the majority of ad budgets.” Meta, of course, owns Instagram, along with Facebook, WhatsApp, and Messenger. Its Threads “Twitter killer app” remains a work in progress. Its primary social media apps have a combined 3.9 billion monthly active users. Because there are an estimated 4.9 billion social media users worldwide , or 60% of the global population, Meta has an outsized influence on what people see and hear. TikTok is a threat to be sure. As of 2022, it accounted for just $10 billion in search, video, and social media advertising, or about 2% of the $470 billion total. Yet it is rapidly nearing exceeding that taken in by Facebook, Instagram, Snapchat, and Twitter. Still, Meta’s willingness to “borrow” the best ideas from its competitors means it should do well for the foreseeable future. Its TikTok knockoff Reels enjoys over 200 billion daily plays . New ad features could result in the apps becoming substantial revenue contributors on their own. DraftKings ( DKNG ) DraftKings (DKNG) logo on a phone Source: Lori Butcher / Shutterstock.com One of the remaining big avenues for digital leisure spending is online sports betting. After the Supreme Court struck down a ban on sports betting as unconstitutional in 2018, it spread to 36 states. DraftKings (NASDAQ: DKNG ) is the second largest sportsbook behind Flutter Entertainment ‘s (OTCMKTS: PDYPF ) FanDuel and operates in 21 states. DraftKings has 2.1 million active monthly users , or about half of FanDuel’s total . Yet FanDuel’s market share slipped to 47% from 50% while DraftKing’s share grew to 35%. That’s DraftKing’s highest share in three years. Wood’s Big Ideas report forecasts online sports betting will expand at a 27% compounded annual growth rate through 2027. The industry will hit $330 billion in volume by then. That’s far faster than the 11% growth rate estimated for in-person betting, which will total just $27 billion. There may be more states coming online too. Kentucky, North Carolina, Vermont, and Puerto Rico all passed legislation that will allow for mobile sports betting. An additional 12 states are considering allowing it as well. Online gambling could provide additional growth in the future. After its acquisition of Golden Nugget Online Gaming in 2022, DraftKings is now the market share leader in a number of states. Most of the share loss has come from rival MGM Resorts (NYSE: MGM ). Wood recently sold off some of her stake in DraftKings. She was taking profits after the sportsbook’s meteoric rise this year. Shares are up 150% so far. The investing guru owns about 13.3 million shares, down from her peak holdings of 24 million shares a year ago. Still, it’s a serious commitment to the sportsbook. DraftKings is rapidly changing the game for all digital leisure stocks. Spotify (SPOT) Close up view of a smartphone with Spotify (SPOT) logo on display. Laptop and headphone on background. New technology, social media, network, liquid music concept. Source: Fabio Principe / Shutterstock.com Filling out the card in the seventh spot is music streaming platform Spotfiy (NYSE: SPOT ). It is the world’s largest audio streaming company with 551 million monthly active users. Of that total, 220 million are premium subscribers. It added record numbers of new users in the second quarter. Revenue from subscription-based and ad-supported channels are growing at double-digit rates. Yet there’s no doubt Spotify deserves the fair bit of criticism it comes in for from critics. It is all too willing to throw money at a perceived opportunity. The $200 million Spotify spent to lure Joe Rogan to the platform is arguably well spent. Other initiatives leave it with mounting losses . Losses doubled in the second quarter from the year-ago period and widened from the first quarter. The stock doubled in value this year and it holds lofty valuations. Yet it is the leader despite some well-financed rivals like Apple Music and YouTube Music. Spotify, though, remains the go-to destination. Management says it is reining in spending, being more targeted in its efforts. CEO Daniel Elk told investors earlier this year, “In hindsight, I probably got a little carried away and overinvested.” He’s being more tight-fisted now and fired 6% of Spotify’s employees . Spotify stock may be the riskiest of the bunch in terms of valuation. As a long-term investment, it should be a good bet on the rise of the digital consumer. On the date of publication, Rich Duprey did not have (either directly or indirectly) any positions in the securities mentioned in this article.\xa0The opinions expressed in this article are those of the writer, subject to the\xa0InvestorPlace.com Publishing Guidelines . Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 7 Stocks to Cash In on This Little-Known $22.5 Trillion Opportunity appeared first on InvestorPlace . View comments', 'The yield on the 10-year US Treasury surged, trading around 4.8%. Thomson Reuters Stocks traded mixed on Tuesday as bond yields surged after a blowout retail sales report. Retail sales jumped 0.7% in September from the prior month, more than double forecasts. Investors fretted over higher-for-longer interest rates as economic data remains hot. US stocks finished mixed on Tuesday as investors took in higher Treasury yields and a hotter-than-expected retail sales report. Retail sales rose 0.7% through the month of September, blowing past economists\' expectations for a 0.3% monthly gain. The hot economic data means investors are pricing in higher-for-longer interest rates from the Federal Reserve, as officials have suggested rate cuts are out of the question until the economy sees more substantial cooling. The yield on the 10-year US Treasury surged 12 basis points, topping 4.8%. "Retail sales showed a big upside surprise today, to the Fed\'s dismay," Bolvin Wealth Management Group president Gina Bolvin said in a note on Tuesday. "The odds are at a coin flip for the prospect of more hikes this year, and the market is pricing in cuts in July." Here\'s where US indexes stood as the market closed at 4:00 p.m. on Tuesday: S&P 500 : 4,373.20, down 0.01% Dow Jones Industrial Average : 33,997.65, up 0.04% (13.11 points) Nasdaq Composite : 13,533.75, down 0.25% Here\'s what else is going on: There are two signs the stock market\'s euphoria is mirroring past bubbles - and it could end badly for investors. Americans now need to earn a record $115,000 to afford a typical home . The 30-year fixed mortgage rate hit a fresh 23-year high, edging closer to 8% . Treasurys crashed because everyone forgot they\'re a bad inflation hedge , according to Wharton professor Jeremy Siegel. Long-term investors should be plowing 80% of their portfolios into stocks or hard assets , according to BlackRock\'s Larry Fink. "Tesla could be in the midst of a strategic pivot." Here\'s what Wall Street expects from the EV maker\'s 3rd-quarter earnings report. Story continues In commodities, bonds, and crypto: Oil prices rose, with West Texas Intermediate ticking 0.12% higher to $86.75 a barrel. Brent crude , the international benchmark, inched up 0.48% to $90.08 a barrel. Gold edged rose 0.21% to $1,924.20 per ounce. The 10-year yield surged 12 basis points to hover at 4.834%. Bitcoin slipped 1.04% to $28,411. Read the original article on Business Insider', '• Stocks traded mixed on Tuesday as bond yields surged after a blowout retail sales report.\n• Retail sales jumped 0.7% in September from the prior month, more than double forecasts.\n• Investors fretted over higher-for-longer interest rates as economic data remains hot.\nUS stocks finished mixed on Tuesday as investors took in higher Treasury yields and a hotter-than-expected retail sales report.\nRetail sales rose 0.7% through the month of September, blowing past economists\' expectations for a 0.3% monthly gain.\nThe hot economic data means investors are pricing in higher-for-longer interest rates from the Federal Reserve, as officials have suggested rate cuts are out of the question until the economy sees more substantial cooling. The yield on the 10-year US Treasury surged 12 basis points, topping 4.8%.\n"Retail sales showed a big upside surprise today, to the Fed\'s dismay," Bolvin Wealth Management Group president Gina Bolvin said in a note on Tuesday. "The odds are at a coin flip for the prospect of more hikes this year, and the market is pricing in cuts in July."\nHere\'s where US indexes stood as the market closed at 4:00 p.m. on Tuesday:\n• S&P 500:4,373.20, down 0.01%\n• Dow Jones Industrial Average:33,997.65, up 0.04% (13.11 points)\n• Nasdaq Composite:13,533.75, down 0.25%\nHere\'s what else is going on:\n• There are two signs the stock market\'s euphoria is mirroring past bubbles- and it could end badly for investors.\n• Americans now need to earn a record $115,000 to afford a typical home.\n• The 30-year fixed mortgage rate hit a fresh 23-year high, edging closer to 8%.\n• Treasurys crashed because everyone forgot they\'re a bad inflation hedge, according to Wharton professor Jeremy Siegel.\n• Long-term investors should be plowing 80% of their portfolios into stocks or hard assets, according to BlackRock\'s Larry Fink.\n• "Tesla could be in the midst of a strategic pivot."Here\'s what Wall Street expects from the EV maker\'s 3rd-quarter earnings report.\nIn commodities, bonds, and crypto:\n• Oil prices rose, withWest Texas Intermediateticking 0.12% higher to $86.75 a barrel.Brent crude, the international benchmark, inched up 0.48% to $90.08 a barrel.\n• Goldedged rose 0.21% to $1,924.20 per ounce.\n• The10-year yieldsurged 12 basis points to hover at 4.834%.\n• Bitcoinslipped 1.04% to $28,411.\nRead the original article onBusiness Insider', 'The race to launch a Bitcoin ETF has been getting a lot of eyeballs as it would give a regulated and orderly way to obtain exposure to Bitcoin price swings without actually owning the cryptocurrency. On Monday, Oct 16, the price of Bitcoin (BTC) briefly crossed the $30,000 mark on reports that the Securities and Exchange Commission (“SEC”) approvedBlackRock, Inc.’s BLK application to launch a BTC ETF. The news turned out to be a rumor.\n“The iShares Spot Bitcoin ETF application is still under review by the SEC,” a BlackRock spokesperson clarified. On this, the price of the benchmark crypto coin settled back down below $29000, falling sharply by about 8%. The SEC, too, gave a cryptic yet stern message on social media, stating, "Careful what you read on the internet. The best source of information about the SEC is the SEC."\nHowever, the sharp uptick in the price of Bitcoin on these rumors has started speculations that an actual approval may not be far off. The regulations body has been struggling in recent days to keep the rising optimism about Bitcoin ETFs at bay, and the best it has been able to do is to delay passing its verdict on various applications. Traditional finance giants seem to have decided to go mainstream with crypto, and the market appears prepared for it.\nOf late, the major development in this next-stage crypto move has been the Court of Appeals siding with Grayscale in its lawsuit against the SEC. Previously, the SEC had denied Grayscale’s application to convert its popular Grayscale Bitcoin Trust (GBTC) to an ETF. The SEC had until Friday to appeal the judge’s opinion that it had failed to provide a coherent explanation for its denial. But they did not take up that option in a significant act of omission. This will now pave the way for various companies from the traditional sector that are waiting for the SEC’s approval to jump into the crypto fray.\nApart from BlackRock, which is probably the biggest player in the race, the SEC is currently reviewing applications from major investment companies likeInvesco Ltd.IVZ andFranklin Resources, Inc.BEN. Invesco and Franklin Resources currently carry a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\nFranklin Resources, Inc. (BEN) : Free Stock Analysis Report\nBlackRock, Inc. (BLK) : Free Stock Analysis Report\nInvesco Ltd. (IVZ) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research', 'The race to launch a Bitcoin ETF has been getting a lot of eyeballs as it would give a regulated and orderly way to obtain exposure to Bitcoin price swings without actually owning the cryptocurrency. On Monday, Oct 16, the price of Bitcoin (BTC) briefly crossed the $30,000 mark on reports that the Securities and Exchange Commission (“SEC”) approvedBlackRock, Inc.’s BLK application to launch a BTC ETF. The news turned out to be a rumor.\n“The iShares Spot Bitcoin ETF application is still under review by the SEC,” a BlackRock spokesperson clarified. On this, the price of the benchmark crypto coin settled back down below $29000, falling sharply by about 8%. The SEC, too, gave a cryptic yet stern message on social media, stating, "Careful what you read on the internet. The best source of information about the SEC is the SEC."\nHowever, the sharp uptick in the price of Bitcoin on these rumors has started speculations that an actual approval may not be far off. The regulations body has been struggling in recent days to keep the rising optimism about Bitcoin ETFs at bay, and the best it has been able to do is to delay passing its verdict on various applications. Traditional finance giants seem to have decided to go mainstream with crypto, and the market appears prepared for it.\nOf late, the major development in this next-stage crypto move has been the Court of Appeals siding with Grayscale in its lawsuit against the SEC. Previously, the SEC had denied Grayscale’s application to convert its popular Grayscale Bitcoin Trust (GBTC) to an ETF. The SEC had until Friday to appeal the judge’s opinion that it had failed to provide a coherent explanation for its denial. But they did not take up that option in a significant act of omission. This will now pave the way for various companies from the traditional sector that are waiting for the SEC’s approval to jump into the crypto fray.\nApart from BlackRock, which is probably the biggest player in the race, the SEC is currently reviewing applications from major investment companies likeInvesco Ltd.IVZ andFranklin Resources, Inc.BEN. Invesco and Franklin Resources currently carry a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\nFranklin Resources, Inc. (BEN) : Free Stock Analysis Report\nBlackRock, Inc. (BLK) : Free Stock Analysis Report\nInvesco Ltd. (IVZ) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research', 'The race to launch a Bitcoin ETF has been getting a lot of eyeballs as it would give a regulated and orderly way to obtain exposure to Bitcoin price swings without actually owning the cryptocurrency. On Monday, Oct 16, the price of Bitcoin (BTC) briefly crossed the $30,000 mark on reports that the Securities and Exchange Commission (“SEC”) approved BlackRock, Inc. ’s BLK application to launch a BTC ETF. The news turned out to be a rumor. “The iShares Spot Bitcoin ETF application is still under review by the SEC,” a BlackRock spokesperson clarified. On this, the price of the benchmark crypto coin settled back down below $29000, falling sharply by about 8%. The SEC, too, gave a cryptic yet stern message on social media, stating, "Careful what you read on the internet. The best source of information about the SEC is the SEC." However, the sharp uptick in the price of Bitcoin on these rumors has started speculations that an actual approval may not be far off. The regulations body has been struggling in recent days to keep the rising optimism about Bitcoin ETFs at bay, and the best it has been able to do is to delay passing its verdict on various applications. Traditional finance giants seem to have decided to go mainstream with crypto, and the market appears prepared for it. Of late, the major development in this next-stage crypto move has been the Court of Appeals siding with Grayscale in its lawsuit against the SEC. Previously, the SEC had denied Grayscale’s application to convert its popular Grayscale Bitcoin Trust (GBTC) to an ETF. The SEC had until Friday to appeal the judge’s opinion that it had failed to provide a coherent explanation for its denial. But they did not take up that option in a significant act of omission. This will now pave the way for various companies from the traditional sector that are waiting for the SEC’s approval to jump into the crypto fray. Apart from BlackRock, which is probably the biggest player in the race, the SEC is currently reviewing applications from major investment companies like Invesco Ltd. IVZ and Franklin Resources, Inc. BEN. Invesco and Franklin Resources currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Franklin Resources, Inc. (BEN) : Free Stock Analysis Report BlackRock, Inc. (BLK) : Free Stock Analysis Report Story continues Invesco Ltd. (IVZ) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments', 'Square, the financial services platform, is embracing generative AI in a very visible way. After announcing earlier this year that it would bring AI features to drive retail sales, Square this morning took the wraps off of new 10 -- count \'em, 10 -- generative AI capabilities focused on customer content creation, onboarding and setup. All are available as of today, albeit some are gated behind Square\'s beta program. The push, it might be said, is an attempt by Square -- and parent company Block -- to reinvigorate the Square platform after a difficult, downward-trending year and change. Revenues from Block\'s Cash App, the peer-to-peer payments service, have declined steeply. Meanwhile, the buy now, pay later service Afterpay, which Block acquired in 2021 for $29 billion, has posted serious losses . Block\'s Bitcoin revenue has fallen corresponding with the fall in the price of the cryptocurrency last year. And Square faces growing competition on multiple fronts, including from Fiserv\'s Clover, Toast and Stripe. Investors are displeased. Square stock has retreated around 30% so far in 2023, as Block founder Jack Dorsey prepares to take the reigns from former Square head Alyssa Henry. So Square\'s giving stockholders generative AI. One of the new AI-powered features, Menu Generator, allows restaurants to create a "full menu" on Square in "just minutes," the platform promises in a press release. "This is a valuable tool in particular for new restaurant sellers who don\x92t have or aren\x92t ready to upload a menu during onboarding," a Square spokesperson clarified to me via email. "With Menu Generator, restaurants can now create a full menu on Square ... with the flexibility to come back and change or update that menu later after they\x92ve finished other set-up tasks. This gives them -- or any business looking to expand into food and drink offerings -- valuable momentum when launching operations on Square." Story continues Given generative AI\'s tendency to go off the rails , I\'d be wary of using it to publish a menu -- particularly considering that gross inaccuracies could land restaurants on the hook for lawsuits over false advertising. But Square emphasizes that the process -- which relies on a range of third-party generative AI models including OpenAI\'s GPT-3 , GPT-3.5 and GPT-4 -- isn\'t fully automated and that customers are afforded the chance to make edits before a menu hits the web. "All of our AI-generated content is offered as suggestions to sellers, giving them the ability to save as-is or make further edits," the spokesperson said. "The human review process comes from sellers themselves, who approve or modify all copy created to ensure it helps them meet their business goals." Human review is also baked into Square\'s new generative email copy feature, according to the spokesperson, which taps generative AI to create personalized email messages to customers. And it\'s a component of Square\'s newly launched website copy generator, which writes headlines -- and entire blogs -- given a brief text prompt. I asked Square whether it\'d taken steps to ensure that copy from its website tool wouldn\'t result in downranking by search engines that don\'t look kindly on certain, obviously duplicative forms of AI-generated content. In response, the spokesperson po i nted to Square\'s partnerships and integrations with Google to "help small businesses overcome ... discoverability hurdles" -- but didn\'t answer the question directly. As a part of the raft of new generative AI capabilities, Square\'s point of sales system can now auto-generate item descriptions for seller catalogs. Square pitches this as a massive time saver -- but color me skeptical. eBay recently rolled out a similar item description generator and the feedback has been less than stellar, with users complaining about repetitiveness and fluff in the AI-generated descriptions. When presented with these concerns, the Square spokesperson noted that item descriptions from the generator are created "based on inputs from sellers, including keywords to keep descriptions focused, and length and tone guidelines to avoid overly verbose or fluffy results." But it remains to be seen if sellers adhere to these guidelines. Elsewhere on the AI front (not necessarily generative AI, despite how Square refers to them in the press release), the Kitchen Display System, Square\'s kiosk for restaurant order management, can now auto-assign menu items to kitchen categories and station screens. Square\'s scheduling system, Appointments, can automatically import service names, descriptions, durations and prices during onboarding, meanwhile. And Square\'s namesake point-of-sales platform now suggests items for sellers to adopt "based on insights about their business." (It\'s not clear exactly which insights -- the press release doesn\'t specify.) Square Team Communication, which adds announcements and messaging to Square Team, Square\'s app for employee scheduling and time tracking, is now able to generate and send out announcements to let employees know about new products and upcoming promotions. (The topic, length and tone are adjustable, Square says.) And Square Messages, Square\'s business-customer messaging platform, can now suggest "sophisticated" AI responses, with the ability to personalize messages with replies that prepopulate customer names. (This upgrades Square Messages\' existing reply generator, which Square claims is generating 450,000 messages per month.) In the press release, Saumil Mehta, Square\'s head of point of sale, is quoted as saying that the new generative AI capabilities put Square "at the forefront of technology." \x93Square is uniquely positioned to be the technology partner that enables the most seamless, intuitive applications of AI," Mehta said. Me, I\'m not so sure. But if the sheer breadth of today\'s rollout is any indication, Square\'s ambitious if nothing else.', 'An estimated 41% of Hong Kong residents prefer not to hold virtual assets following the aftermath of the JPEX scandal cryptocurrency exchange, according to the preliminary findings of a survey conducted by the School of Business and Management of The Hong Kong University of Science and Technology. See related article: Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations Fast Facts This is a 12% increase from a previous survey by the university between April 24 and May 23, 2023, before unlicensed trading platform JPEX allegedly caused around US$154 million in losses to over 1,600 investors, marking the largest fraud case in Hong Kong. Among the 2,200 total respondents, 8% said they intend to invest in virtual assets said they will invest up to HK$50,000 (US$6,388) or less with a preference towards directly owning tokens or investing in exchange-traded funds (ETFs) as opposed to derivatives-based products. According to the survey, about 20% of the total 2,200 respondents said they would like to hold virtual assets in the future, a 5% drop from the previous survey. Only around 27% of respondents said they are currently holding or have held virtual assets in the past while 84% have heard of virtual assets. The survey was launched on Sept. 28 and will conclude on Oct. 20, 2023. See related article: Binance users in Hong Kong hooked by US$450,000 phishing attacks', 'An estimated 41% of Hong Kong residents prefer not to hold virtual assets following the aftermath of theJPEX scandalcryptocurrency exchange, according to the preliminary findings of a survey conducted by the School of Business and Management of The Hong Kong University of Science and Technology.\nSee related article:Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations\n• This is a 12% increase from a previous survey by the university between April 24 and May 23, 2023, before unlicensed trading platformJPEXallegedly caused around US$154 million in losses to over 1,600 investors, marking the largest fraud case in Hong Kong.\n• Among the 2,200 total respondents, 8% said they intend to invest in virtual assets said they will invest up to HK$50,000 (US$6,388) or less with a preference towards directly owning tokens or investing in exchange-traded funds (ETFs) as opposed to derivatives-based products.\n• According to the survey, about 20% of the total 2,200 respondents said they would like to hold virtual assets in the future, a 5% drop from the previous survey.\n• Only around 27% of respondents said they are currently holding or have held virtual assets in the past while 84% have heard of virtual assets.\n• The survey was launched on Sept. 28 and will conclude on Oct. 20, 2023.\nSee related article:Binance users in Hong Kong hooked by US$450,000 phishing attacks', 'The United Kingdom is the world’s third-largest economy in terms of raw cryptocurrency transaction volume, behind the U.S. and India, according to on-chain intelligence firm Chainalysis. See related article: Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations Fast Facts The U.K. also emerged as the biggest crypto economy in the Central, Northern, and Western European (CNWE) region, having received an estimated US$252.1 billion worth of crypto payments this past year, according to Chainalysis’ 2023 Geography of Cryptocurrency report published Wednesday. Germany was CNWE’s second-largest crypto economy, with US$120 billion received in crypto transactions, followed by Spain with US$110 billion. CNWE is the world’s second-largest crypto economy after North America, accounting for 17.6% of global transaction volume between July 2022 and June 2023. Decentralized finance (DeFi) accounted for 54.8% of the crypto value received, making it the most popular crypto-related service in the region. See related article: Binance users in Hong Kong hooked by US$450,000 phishing attacks View comments', 'The United Kingdom is the world’s third-largest economy in terms of raw cryptocurrency transaction volume, behind the U.S. and India, according to on-chain intelligence firm Chainalysis.\nSee related article:Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations\n• The U.K. also emerged as the biggest crypto economy in the Central, Northern, and Western European (CNWE) region, having received an estimated US$252.1 billion worth of crypto payments this past year, according to Chainalysis’ 2023 Geography of Cryptocurrencyreportpublished Wednesday.\n• Germany was CNWE’s second-largest crypto economy, with US$120 billion received in crypto transactions, followed by Spain with US$110 billion.\n• CNWE is the world’s second-largest crypto economy after North America, accounting for 17.6% of global transaction volume between July 2022 and June 2023.\n• Decentralized finance (DeFi) accounted for 54.8% of the crypto value received, making it the most popular crypto-related service in the region.\nSee related article:Binance users in Hong Kong hooked by US$450,000 phishing attacks', "US Markets US Stocks Set For Weak Open Ahead Of Tesla Q3 Print: Why This Analyst Is Skeptical Of S&P 500 Recovery To Early 2022 High Fear & Greed Index Remains In 'Fear' Zone As Investors Assess Earnings Reports Bitcoin, Ethereum, Dogecoin Trade Mixed After ETF Rumor-Fueled Rally Cools Down: Analyst Sees Apex Crypto Breaking $30K Level Crypto Reddit Is Phasing Out Crypto-Powered Community Points Reward Tokens; MOON Plunges Over 80% Bitcoin Offshoot Skyrockets 20% In A Week, Leaving Bitcoin, Ethereum In The Dust: What's Happening? US Politics Trump's Niece Reminds Former GOP Congressman 'ZERO' Republicans Voted
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-18
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $552,690,016,462
- Hash Rate: 439908490.27425945
- Transaction Count: 271345.0
- Unique Addresses: 613906.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.50
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: By Hannah Lang WASHINGTON (Reuters) -The U.S. securities regulator was wrong to reject an application from Grayscale Investments to create a spot bitcoin exchange-traded fund, a federal appeals court ruled on Tuesday, in a landmark victory that could pave the way for the first product of its kind. A three-judge panel of the District of Columbia Court of Appeals in Washington said the Securities and Exchange Commission (SEC) failed to fully explain its reasoning when denying Grayscale's product and should review its decision. The price of bitcoin, the world's largest cryptocurrency, was last up more than 6% at $27,858 following the news. A spot bitcoin ETF would track its underlying market price, giving investors exposure to the digital asset without having to buy the currency. The SEC has denied all proposed bitcoin ETFs, including Grayscale's, saying they do not meet its bar for preventing market manipulation. While the ruling does not mean Grayscale's ETF is automatically approved, it is a big boost for the decade-long industry effort to advance a bitcoin ETF product. The court decision is a "historic milestone for American investors," Grayscale CEO Michael Sonnenshein said in a statement. A Grayscale spokeswoman added that the company was reviewing the details and would pursue "next steps with the SEC." The SEC has 45 days to appeal the ruling. An agency spokesperson said it was reviewing the court's decision in order to determine next steps. The cryptocurrency industry was quick to hail the ruling. Several other asset managers, including BlackRock, Fidelity and Invesco, have similar filings pending with the SEC for a spot bitcoin ETF. "This ruling is not just about Grayscale or Bitcoin, it sets a precedent for the broader crypto industry," said Ji Kim, general counsel and head of global policy at the Crypto Council for Innovation. CRYPTO WIN The SEC rejected Grayscale's application for a spot bitcoin ETF in June 2022, arguing the proposal did not meet anti-fraud and investor protection standards. It cited the same reason in its denial of dozens of other applications for similar products, including those from Fidelity and VanEck. Story continues Grayscale sued the SEC, arguing that because the agency previously approved certain surveillance agreements to prevent fraud in bitcoin futures-based ETFs, the same setup should also be satisfactory for Grayscale's spot fund, since both spot and futures funds rely on bitcoin's price. The court said in its ruling that the SEC failed to explain why it disagreed with Grayscale's assertion that the bitcoin spot and futures markets are 99.9% correlated. "The Commission’s unexplained discounting of the obvious financial and mathematical relationship between the spot and futures markets falls short of the standard for reasoned decisionmaking," the court said in its opinion, which was filed by Judge Neomi Rao of the D.C. Court of Appeals. The ruling is the second major legal victory for the crypto industry in recent weeks, after a judge ruled in July, in a case brought by the SEC, that Ripple Labs did not violate federal laws by selling its XRP token on public exchanges. The SEC has said it plans to appeal that finding. If the SEC appeals the Grayscale ruling, the case would go either to the U.S. Supreme Court or a review by the entire D.C. appeals court. If the SEC chooses not to appeal, the court would issue a mandate specifying how its decision should be executed. That could include instructing the SEC to approve the application, or to revisit Grayscale's application, in which case the SEC could still reject the proposal on other grounds. It remains to be seen how the ruling might affect proposals submitted in June by BlackRock, the world's largest asset manager, and several other firms to offer spot bitcoin ETFs. The SEC has yet to deliver a decision on those applications. (Reporting by Hannah Lang in Washington; Additional reporting by Chris Prentice in New York; Editing by Paul Simao, Matthew Lewis, Tomasz Janowski and Jonathan Oatis)...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['• Stocks fell Wednesday as escalating tensions in the Middle East pushed oil up.\n• Treasury yields also pressure equities, with the 10-year touching a fresh 16-year high.\n• Earning season continues, with Netflix and Tesla set to report after the closing bell.\nUS stocks tumbled Wednesday as oil prices jumped and Treasury yields swung up to highs not seen since 2007.\nThe Dow Jones Industrial Average fell more than 300 points, while the S&P 500 dropped about 1.3%. The tech-heavy Nasdaq tumbled 1.6%.\nTensions between Israel and Hamas were ratcheted up after a hospital in the Gaza Strip exploded, killing an estimated 500 Palestinians. With both parties throwing blame on the other, the event dims hopes that the conflict will soon de-escalate.\nIran called for an embargo on Israel oil, and crude prices climbed mid-day, before trimming gains. If the conflict grows to involve other Middle Eastern states, oil pricesare expected to rise, with one estimate forecasting Brent to go as high as $150 a barrel.\nMeanwhile, Treasurys resumed their sell-off, causing bond yields to hit fresh records. Most notably, the 30-year rate broke through the 5% barrier, with the 10-year note following closely behind, touching 4.9% for the first time since 2007.\n"Financial markets, keenly focused on the path of the 10-year Treasury yield, are increasingly concerned that the next move higher could be on the cusp of 5%, and whether the broader economy is equipped to assimilate the higher cost of capital," Quincy Krosby, Chief Global Strategist for LPL Financial, said.\nWednesday did see some demand return for Treasurys, withthe latest auction of 20-year bondsdrawing more interest than other recent sales of long-dated bonds. This follows after buyers pulled back from last year\'s auction, causing concern of a more widespread trend.\nMeanwhile, earnings reports continued through the day, with Tesla and Netflix set to report after the closing bell.\nNotable earnings earlier in the day included Morgan Stanley, whose profits came in below estimates, and United Airlines, which fell 8% on warnings of elevated fuel prices and risks from the Israel-Hamas conflict.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Wednesday:\n• S&P 500: 4,314.60, down 1.34%\n• Dow Jones Industrial Average: 33,665.35, down 0.98% (-332.30 points)\n• Nasdaq Composite: 13,314.30, down 1.62%\nHere\'s what else is going on:\n• Expect a spot Bitcoin ETF this year, Mike Novogratz says, as the SEC\'s opposition makes "intellectually zero sense."\n• China\'s Country Garden developer reportedly missed afinal bond payment deadline.\n• Economists now see chances of a recession below 50%. Here\'s howconsensus has shifted over time.\n• Stock market gains may be coming, as areliable buy signal just flashed through markets.\n• Jeffrey Gundlach says long-dated Treasurys are worth buying, withbond prices set to rise in a 2024 recession.\nIn commodities, bonds, and crypto:\n• West Texas Intermediateclimbed 1.87% higher to $88.28 a barrel.Brent crude, the international benchmark, rose 1.7% to $91.39 a barrel.\n• Goldrose 1.47% to $1,964.10 per ounce.\n• The10-year Treasury yieldincreased six basis points to 4.908%.\n• Bitcoinslipped 0.26% to $28,274.\nRead the original article onBusiness Insider', 'Rocket barrages launched towards Israel from Gaza. REUTERS Stocks fell Wednesday as escalating tensions in the Middle East pushed oil up. Treasury yields also pressure equities, with the 10-year touching a fresh 16-year high. Earning season continues, with Netflix and Tesla set to report after the closing bell. US stocks tumbled Wednesday as oil prices jumped and Treasury yields swung up to highs not seen since 2007. The Dow Jones Industrial Average fell more than 300 points, while the S&P 500 dropped about 1.3%. The tech-heavy Nasdaq tumbled 1.6%. Tensions between Israel and Hamas were ratcheted up after a hospital in the Gaza Strip exploded, killing an estimated 500 Palestinians. With both parties throwing blame on the other, the event dims hopes that the conflict will soon de-escalate. Iran called for an embargo on Israel oil, and crude prices climbed mid-day, before trimming gains. If the conflict grows to involve other Middle Eastern states, oil prices are expected to rise , with one estimate forecasting Brent to go as high as $150 a barrel. Meanwhile, Treasurys resumed their sell-off, causing bond yields to hit fresh records. Most notably, the 30-year rate broke through the 5% barrier, with the 10-year note following closely behind, touching 4.9% for the first time since 2007. "Financial markets, keenly focused on the path of the 10-year Treasury yield, are increasingly concerned that the next move higher could be on the cusp of 5%, and whether the broader economy is equipped to assimilate the higher cost of capital," Quincy Krosby, Chief Global Strategist for LPL Financial, said. Wednesday did see some demand return for Treasurys, with the latest auction of 20-year bonds drawing more interest than other recent sales of long-dated bonds. This follows after buyers pulled back from last year\'s auction, causing concern of a more widespread trend. Meanwhile, earnings reports continued through the day, with Tesla and Netflix set to report after the closing bell. Notable earnings earlier in the day included Morgan Stanley, whose profits came in below estimates, and United Airlines, which fell 8% on warnings of elevated fuel prices and risks from the Israel-Hamas conflict. Story continues Here\'s where US indexes stood at the 4:00 p.m. closing bell on Wednesday: S&P 500 : 4,314.60, down 1.34% Dow Jones Industrial Average : 33,665.35, down 0.98% (-332.30 points) Nasdaq Composite : 13,314.30, down 1.62% Here\'s what else is going on: Expect a spot Bitcoin ETF this year, Mike Novogratz says, as the SEC\'s opposition makes " intellectually zero sense ." China\'s Country Garden developer reportedly missed a final bond payment deadline . Economists now see chances of a recession below 50%. Here\'s how consensus has shifted over time . Stock market gains may be coming, as a reliable buy signal just flashed through markets . Jeffrey Gundlach says long-dated Treasurys are worth buying, with bond prices set to rise in a 2024 recession . In commodities, bonds, and crypto: West Texas Intermediate climbed 1.87% higher to $88.28 a barrel. Brent crude , the international benchmark, rose 1.7% to $91.39 a barrel. Gold rose 1.47% to $1,964.10 per ounce. The 10-year Treasury yield increased six basis points to 4.908%. Bitcoin slipped 0.26% to $28,274. Read the original article on Business Insider', 'Increased Bitcoin Use, Technological Advancements, and Growing Investor Interest Driving Growth of Crypto ATM Market\nRockville , Oct. 19, 2023 (GLOBE NEWSWIRE) -- The globalcrypto ATM marketis exhibiting unprecedented growth as digital currency use continues to gain traction. The market is estimated at a value of US$ 181 million in 2023 and is projected to expand swiftly at a CAGR of 57% through the forecast period (2023 to 2033), as per a new study conducted by Fact.MR, a market research and competitive intelligence provider.\nGet Free Sample Copy of This Report:https://www.factmr.com/connectus/sample?flag=S&rep_id=8969\nThe crypto ATM business is expanding rapidly owing to many factors such as rising bitcoin use, technological developments, and increased investor interest. Bitcoin is riding the tide of cryptocurrency acceptance, providing customers with a simple and safe means of accessing digital assets. The industry is positioned for significant expansion in the near future, owing to rapid technological breakthroughs and supportive regulatory reforms.\nCryptocurrency ATMs serve as a vital link between established banking systems and the world of cryptocurrencies. These machines make it simple for users to enter and traverse the cryptocurrency industry, thus offering valuable access and liquidity. Crypto ATMs are projected to remain a vital part of the Bitcoin ecosystem as the digital asset landscape evolves.\n[{"Report Attribute": "Value Projection (2033)", "Details": "US$ 16.85 Billion"}, {"Report Attribute": "Growth Rate (2023-2033)", "Details": "57% CAGR"}, {"Report Attribute": "No. of pages", "Details": "170 Pages"}, {"Report Attribute": "No. of Tables", "Details": "80 Tables"}, {"Report Attribute": "No. of Figures", "Details": "219 Figures"}]\nKey Takeaways from Market Study\n• The global crypto ATM market is currently estimated at US$ 181 million.\n• The market is projected to accelerate at a high-value CAGR of 57% and reach US$ 16.85 billion by the end of 2033.\n• The one-way segment led the market in 2022, accounting for more than 68% of global revenue share.\n• North America held a leading market share of 45% in 2022.\n• The two-way segment in Asia Pacific is projected to expand significantly and become a key segment over the coming years.\n• The hardware segment accounted for 75% of the global market in 2022.\n• The Bitcoin segment contributed 30% revenue share in 2022.\n• Restaurants and other hospitality spaces collectively accounted for a leading market share of 31% in 2022.\n“The crypto ATM market benefits from the broader trends of digital transformation and rising adoption of cryptocurrency. These trends are altering financial services and the way people interact with money. Crypto ATMs are at the crossroads of these shifts, offering a physical and accessible entry point into the realm of digital banking while addressing the expanding requirements of the consumers in an increasingly digital and decentralized financial landscape,”\xa0says\xa0a Fact.MR analyst.\nKey Companies Profiled in This Report\n• BITCOIN DEPOT\n• Bitstop\n• Cash Cloud, Inc.\n• Coinsource\n• Covault LLC\n• Bitaccess Inc.\n• Cryptomat\n• GENERAL BYTES s.r.o\n• Genesis Coin Inc.\n• Kurant GmbH\n• Lamassu Industries AG\n• RockitCoin\n• Coinme\n• Coin ATM Radar\n• Soft-logic Co.\n• Byte Federal Inc.\n• Chain Bytes LLC\nGrowing Adoption of Cryptocurrencies as Legitimate Financial Assets\nCrypto ATM operators are motivated to support a diverse variety of digital assets other than Bitcoin, as the prevalence of multiple cryptocurrencies grows. This variety targets visitors who are interested in a variety of cryptocurrencies.Crypto ATMs allow consumers to manage their Bitcoin investments more easily. As more people diversify their holdings, the need for simple ways to buy, sell, and manage these assets becomes obvious.\nMany people consider cryptocurrencies like Bitcoin as a possible store of value and a hedge against traditional financial markets. Crypto ATMs make it simple to convert fiat currencies into digital assets for investment purposes. Cryptocurrencies are gradually gaining popularity in the mainstream. As more businesses, both online and offline, begin to accept cryptocurrency as payment, demand for Crypto ATMs grows.\nGet Customization on this Report for Specific Research Solutions:https://www.factmr.com/connectus/sample?flag=RC&rep_id=8969\nCountry-wise Insights\nWhy is the US a Significant Contribution to the Growth of ATMs Accepting Digital Currency?\n"Availability of Significant Investment Money and the Presence of Bitcoin ATMs Nationwide"\nDue to its vast and diverse market, well-defined regulatory environment, vibrant culture of financial innovation, growing acceptance of cryptocurrencies, access to an abundance of investment capital, extensive geographic reach, presence of trailblazing operators, and consumer demand for cash-to-crypto services, the United States is a major factor in the proliferation of digital currency ATMs.A significant portion of Bitcoin owners are in the United States, which indicates the growth of the local industry. For instance, according to Coinbase, 20% of Americans are bitcoin owners.\nThroughout the forecast period, rising cryptocurrency use is anticipated to support market expansion. With 30,714 crypto ATMs, the United States has the most, according to Coin ATM Radar.\nMore Valuable Insightson Offer\nFact.MR, in its new offering, presents an unbiased analysis of the crypto ATM market for 2018 to 2022 and forecast statistics for 2023 to 2033.\nThe study divulges essential insights into the market based on type (one way, two way), offering (hardware, software), coin (Bitcoin [BTC], Litecoin [LTC], Ethereum [ETH], Dogecoin, Bitcoin Cash, Dash, Tether [USDT], others), and end use (commercial spaces, restaurants, hospitality spaces, transportation hubs, standalone units, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).\nExplore More Related Studies Published by Fact.MR Research:\nCryptocurrency Market:The global cryptocurrency market is predicted to grow at a robust CAGR of 31.3%. The global cryptocurrency market is estimated to be valued at US$ 46.2 Bn by 2032 from US$ 2.3 Bn in 2021.\nFinancial Analytics Market:The financial analytics market revenue totaled US$ 9.3 Billion in 2021 and is projected to register a Y-o-Y expansion rate of nearly 11% to reach US$ 10.3 Billion in 2022.\nFintech-as-a-Service Market:The overall demand for Fintech-as-a-Service is projected to grow at a CAGR of 17% between 2022 and 2032, totaling around US$ 1,300 Billion by 2032.\nAbout Fact.MR:\nFact.MR is a distinguished market research company renowned for itscomprehensive market reportsand invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.\nContact:US Sales Office11140\xa0Rockville PikeSuite 400Rockville, MD\xa020852United StatesTel: +1 (628) 251-1583, +353-1-4434-232 (D)Sales Team:[email protected] Us:LinkedIn|Twitter|Blog', 'The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Buy Cash Money and Money Transfer Company, a Gaza-based cryptocurrency exchange with alleged ties to Palestinian militant group Hamas.\nSee related article: ‘There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia\n• On Wednesday, OFAC announced that it imposed sanctions on 10 key entities believed to be linked to Hamas, including its members, operatives and financial facilitators.\n• The Treasury Department reported that in 2021, Israel’s National Bureau for Counter Terror Financing seized crypto wallets connected to a Hamas fundraising campaign. According to New York-based blockchain intelligence firm Chainalysis, one of these addressesbelongedto Buy Cash.\n• “Buy Cash, while implicated in Hamas crypto activity, also facilitated transfers for other terrorist groups — notably, a 2019 Bitcoin transfer from an al-Qa’ida affiliate and a 2017 procurement of online infrastructure on behalf of ISIS,” said Chainalysis in a Wednesdayreport.\n• In addition to the Gaza-based crypto business, OFACsaidit imposed sanctions on individuals involved in a secret Hamas investment portfolio and an operative with deep connections to the Iranian regime.\n• Israel declared war on Hamas on Oct. 7 after the militant group carried out anattackin Israel, prompting a retaliation airstrike in Gaza.\nSee related article:Bitwise to launch two Ethereum Futures ETFs', 'The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Buy Cash Money and Money Transfer Company, a Gaza-based cryptocurrency exchange with alleged ties to Palestinian militant group Hamas. See related article: ‘ There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia Fast Facts On Wednesday, OFAC announced that it imposed sanctions on 10 key entities believed to be linked to Hamas, including its members, operatives and financial facilitators. The Treasury Department reported that in 2021, Israel’s National Bureau for Counter Terror Financing seized crypto wallets connected to a Hamas fundraising campaign. According to New York-based blockchain intelligence firm Chainalysis, one of these addresses belonged to Buy Cash. “Buy Cash, while implicated in Hamas crypto activity, also facilitated transfers for other terrorist groups — notably, a 2019 Bitcoin transfer from an al-Qa’ida affiliate and a 2017 procurement of online infrastructure on behalf of ISIS,” said Chainalysis in a Wednesday report . In addition to the Gaza-based crypto business, OFAC said it imposed sanctions on individuals involved in a secret Hamas investment portfolio and an operative with deep connections to the Iranian regime. Israel declared war on Hamas on Oct. 7 after the militant group carried out an attack in Israel, prompting a retaliation airstrike in Gaza. See related article: Bitwise to launch two Ethereum Futures ETFs View comments', 'Bitcoin\'s price has seen a notable increase in the past week. The rise has been driven in some part by anticipation over the possible approval of multiple spot bitcoin ETF filings.\nBitcoin (BTC-USD) has risen by around 6% in the past week, now changing hands at $28,354, (£23,390) according to CoinGeckodata.\nRead more:Crypto live prices\nThis is a retrace from a brief spike to $30,000, that was reached on Monday, after a false report inaccurately asserted that BlackRock\'s proposed spot bitcoin ETF had gained approval. Thereportby Cointelegraph caused a surge in trading activity and volatility. While bitcoin pulled back after the report was debunked, it has still gained throughout the week, closing in on $29,000 on Wednesday.\nAnalysts view the false alarm at the beginning of the week as a dress rehearsal for what would occur if a spot bitcoin ETF were actually to be approved. In the past week, indications that the US Securities and Exchange Commission (SEC) will approve a spot bitcoin ETF have been increasing.\nIn late August, a panel of judges at a US appeals court ruled that the SEC had made an error when rejecting Grayscale Investments\' application to convert the Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF. The judges said the agency’s decision was “arbitrary and capricious."\nLast Friday, the US regulator opted to not challenge the court ruling, a decision that analysts suggest increases the changes for the Grayscale Bitcoin Trust to be converted into an ETF.\nRead more:Institutional investment brings new momentum to crypto\nSince then communication between fund managers and the SEC regarding spot bitcoin ETFs has become more constructive, according to Bloomberg analysts James Seyffart and Eric Balchunas.\n"A recent update to the spot bitcoin ETF prospectus from Ark and 21SHares adds at least five pages of new text, signaling a constructive conversation with the SEC, and a step that typically only occurs when a fund is on its way to being approved," Seyffart and Balchunasnoted.\nAccording to a Bloombergreporton Saturday, the analysts added that communication between Grayscale Investments and the SEC "is going to open up" following the regulator\'s decision not to appeal the court ruling.\nAfter Monday\'s false report of a spot bitcoin ETF approval, BlackRock (BLK) CEO Larry Fink spoke in favourable terms about digital assets in an interview withFox Business. He indicated that the market\'s response to Monday\'s false report exposed "the pent-up interest in crypto."\nAccording to Fink, Monday\'s rally suggested investors are seeking "a flight to quality" caused by fears of further global unrest.\n"I think there\'s more people running into a flight to quality, whether that is in Treasuries, gold or crypto, depending on how you think of it. And I believe crypto will play that type of role, as a flight to quality," The BlackRock CEO said.\nWatch: Crypto bosses pouring millions into anti-aging tech to live longer | The Crypto Mile\nDownload the Yahoo Finance app, available forAppleandAndroid.', 'Bitcoin\'s price has seen a notable increase in the past week. The rise has been driven in some part by anticipation over the possible approval of multiple spot bitcoin ETF filings.\nBitcoin (BTC-USD) has risen by around 6% in the past week, now changing hands at $28,354, (£23,390) according to CoinGeckodata.\nRead more:Crypto live prices\nThis is a retrace from a brief spike to $30,000, that was reached on Monday, after a false report inaccurately asserted that BlackRock\'s proposed spot bitcoin ETF had gained approval. Thereportby Cointelegraph caused a surge in trading activity and volatility. While bitcoin pulled back after the report was debunked, it has still gained throughout the week, closing in on $29,000 on Wednesday.\nAnalysts view the false alarm at the beginning of the week as a dress rehearsal for what would occur if a spot bitcoin ETF were actually to be approved. In the past week, indications that the US Securities and Exchange Commission (SEC) will approve a spot bitcoin ETF have been increasing.\nIn late August, a panel of judges at a US appeals court ruled that the SEC had made an error when rejecting Grayscale Investments\' application to convert the Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF. The judges said the agency’s decision was “arbitrary and capricious."\nLast Friday, the US regulator opted to not challenge the court ruling, a decision that analysts suggest increases the changes for the Grayscale Bitcoin Trust to be converted into an ETF.\nRead more:Institutional investment brings new momentum to crypto\nSince then communication between fund managers and the SEC regarding spot bitcoin ETFs has become more constructive, according to Bloomberg analysts James Seyffart and Eric Balchunas.\n"A recent update to the spot bitcoin ETF prospectus from Ark and 21SHares adds at least five pages of new text, signaling a constructive conversation with the SEC, and a step that typically only occurs when a fund is on its way to being approved," Seyffart and Balchunasnoted.\nAccording to a Bloombergreporton Saturday, the analysts added that communication between Grayscale Investments and the SEC "is going to open up" following the regulator\'s decision not to appeal the court ruling.\nAfter Monday\'s false report of a spot bitcoin ETF approval, BlackRock (BLK) CEO Larry Fink spoke in favourable terms about digital assets in an interview withFox Business. He indicated that the market\'s response to Monday\'s false report exposed "the pent-up interest in crypto."\nAccording to Fink, Monday\'s rally suggested investors are seeking "a flight to quality" caused by fears of further global unrest.\n"I think there\'s more people running into a flight to quality, whether that is in Treasuries, gold or crypto, depending on how you think of it. And I believe crypto will play that type of role, as a flight to quality," The BlackRock CEO said.\nWatch: Crypto bosses pouring millions into anti-aging tech to live longer | The Crypto Mile\nDownload the Yahoo Finance app, available forAppleandAndroid.', 'Lightning Labs, a Bitcoin layer-2 infrastructure developer, announced the first mainnet release of Taproot Assets on Wednesday, a protocol that allows developers to issue and manage stablecoins and other assets on the Bitcoin blockchain via the Lightning Network.\nSee related article:Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict\n• With Taproot Assets, Lightning Network users can hold assets beyond Bitcoin in their wallets. Payments through Taproot Assets will be routed through the Lightning Network, while Bitcoin will offer liquidity for payments denominated in other assets.\n• Developers minted nearly 2,000 assets on the testnet, including real-world assets like gold, U.S. Treasuries and corporate bonds with programmatic coupon payments.\n• The Lightning Network is a layer-2 scaling network on Bitcoin. A layer-2 network can improve transaction speed and reduce network congestion.\n• The Bitcoin network has facedcongestionissues this year, due to a surge of interest inOrdinals inscriptions, an iteration of non-fungible tokens (NFTs) on Bitcoin. Layer-2 solutions like the Lightning Network can reduce network congestion by processing transactions off the main blockchain.\n• Other layer-2 protocols, such as Stacks and Liquid Network, also improve transaction speed and reduce congestion on Bitcoin.\nSee related article:Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations', 'Lightning Labs, a Bitcoin layer-2 infrastructure developer, announced the first mainnet release of Taproot Assets on Wednesday, a protocol that allows developers to issue and manage stablecoins and other assets on the Bitcoin blockchain via the Lightning Network. See related article: Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict Fast Facts With Taproot Assets, Lightning Network users can hold assets beyond Bitcoin in their wallets. Payments through Taproot Assets will be routed through the Lightning Network, while Bitcoin will offer liquidity for payments denominated in other assets. Developers minted nearly 2,000 assets on the testnet, including real-world assets like gold, U.S. Treasuries and corporate bonds with programmatic coupon payments. The Lightning Network is a layer-2 scaling network on Bitcoin. A layer-2 network can improve transaction speed and reduce network congestion. The Bitcoin network has faced congestion issues this year, due to a surge of interest in Ordinals inscriptions , an iteration of non-fungible tokens (NFTs) on Bitcoin. Layer-2 solutions like the Lightning Network can reduce network congestion by processing transactions off the main blockchain. Other layer-2 protocols, such as Stacks and Liquid Network, also improve transaction speed and reduce congestion on Bitcoin. See related article: Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations', 'Lightning Labs, a Bitcoin layer-2 infrastructure developer, announced the first mainnet release of Taproot Assets on Wednesday, a protocol that allows developers to issue and manage stablecoins and other assets on the Bitcoin blockchain via the Lightning Network.\nSee related article:Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict\n• With Taproot Assets, Lightning Network users can hold assets beyond Bitcoin in their wallets. Payments through Taproot Assets will be routed through the Lightning Network, while Bitcoin will offer liquidity for payments denominated in other assets.\n• Developers minted nearly 2,000 assets on the testnet, including real-world assets like gold, U.S. Treasuries and corporate bonds with programmatic coupon payments.\n• The Lightning Network is a layer-2 scaling network on Bitcoin. A layer-2 network can improve transaction speed and reduce network congestion.\n• The Bitcoin network has facedcongestionissues this year, due to a surge of interest inOrdinals inscriptions, an iteration of non-fungible tokens (NFTs) on Bitcoin. Layer-2 solutions like the Lightning Network can reduce network congestion by processing transactions off the main blockchain.\n• Other layer-2 protocols, such as Stacks and Liquid Network, also improve transaction speed and reduce congestion on Bitcoin.\nSee related article:Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations', 'In this issue Japan — a new frontier for Binance? AI art sweeps NFT sales ETF buzz electrifies Bitcoin From the Editor’s Desk Dear Reader, It’s been quite the week for Binance. The world’s largest cryptocurrency exchange has been headline news on our pages for some time now. And that’s no mean feat considering the Sam Bankman-Fried trial is still only a few weeks old and readers all over the world remain glued to their screens, waiting to learn the fate of crypto’s most (in)famous individual. Second on that list, arguably, is Changpang Zhao, known to most as CZ. The Binance CEO and co-founder was a one-time mentor to SBF. Something of a crypto-older-brother to the FTX founder, Zhao was there for Bankman-Fried in the early days of the collapsed exchange, becoming one of the first investors and helping FTX off the ground. But he was also reportedly there as it all came crashing down. At one stage in November last year, when rumors of a multi-billion dollar shortfall in customer funds at FTX came to light, it appeared as though Zhao may step in to bail SBF out. But it wasn’t to be. Zhao and Binance pulled out of an agreement to buy FTX at the last minute and… well… we all know what happened next. For some time before Bankman-Fried’s rapid fall from grace, there had been whispers that Zhao was less than impressed by the FTX boss’s apparent cozying-up to U.S. regulators. Some reports even allege that he had a hand in exposing the balance sheet discrepancies that brought the curtain down on FTX. It was Zhao, after all, who contributed to the run at FTX when he said he would sell all Binance’s holdings in its native token FTT. Regardless of Zhao’s alleged involvement in FTX’s demise, this could and should have been a triumphant moment for Binance. The exchange’s main rivals are no longer part of the picture. The company continues its outward expansion into territories new — Japan in particular representing a particularly promising growth market for the brand. Story continues But it’s not exactly smooth sailing elsewhere. Binance said it will no longer register new users in the U.K. on Monday in response to the country’s new overseas promotion rules, while on Tuesday Binance.US announced it has suspended U.S. dollar withdrawals for U.S. customers. Add that to the announcement last week that Brazil’s regulators want to indict Zhao for running a pyramid scheme, and the picture starts to look far less rosy. Of course, Binance remains a juggernaut. Its website claims the exchange has 150 million users worldwide, enjoying a daily transaction volume of US$65 billion. But the lay of the land has without doubt turned a little bumpy, while there’s some really mountainous terrain up ahead. Where the journey leads is yet to be decided. But knowing Binance and Zhao, it’s bound to be one heck of a ride. Until the next time, Angie Lau, Founder and Editor-in-Chief Forkast.News 1. Japan — a new frontier for Binance? Binance’s official entry into Japan signals a shift towards the Asia-Pacific, revitalizing the Japanese crypto scene and positioning the nation as a potential crypto haven amid global regulatory challenges. Image: Canva Binance Japan started trading operations Aug. 1, launching with an impressive 34 coins on its platform. The number might be a fraction of what Binance’s global exchange offers, but for the Japanese crypto market, it marks a significant leap. The number places Binance Japan at the forefront of the domestic industry in terms of cryptocurrency variety. The official arrival of Binance, the world’s largest cryptocurrency exchange, as a licensed entity in Japan, signals challenging times ahead for the multitude of smaller domestic exchanges already grappling with dwindling liquidity and an oversaturated market. As noted by Norbert Gehrke, founder of the Japan FinTech Observer newsletter, the dominance of Binance could potentially kill off many of these smaller competitors. Binance has faced regulatory hurdles in Japan in the past. It received reprimands from the Financial Services Agency (FSA) for operating as an unlicensed online exchange in both 2018 and 2021. However, the company’s strategic acquisition of the Sakura Exchange BitCoin platform last year fast-tracked its official re-entry into the country. Binance’s interest in the Japanese market showcases an industry-wide pivot toward the Asia Pacific market amidst growing U.S. resistance to crypto. Despite past frictions, the country’s pro-crypto stance — led by Prime Minister Fumio Kishida’s endorsement of Web3 technologies — hints at a promising future for foreign crypto investments in the country. But some local competitors have raised concerns over Binance’s swift licensing process, suggesting a potential double standard. While Binance’s global operations face legal scrutiny in various countries, experts like Tokyo-based fintech lawyer So Saito believe that existing Japanese regulations will safeguard local investors. As they were during the FTX collapse, Japanese assets are expected to remain secure even if Binance Global encounters challenges. On the positive side for Binance and Japan, the entry of a global giant might just be the spark the domestic crypto industry needs to really get up and running. The market is shifting away from one-note cryptocurrency trading to the broader potentials of Web3. If developers can integrate Japan’s traditional strengths in areas like anime, manga, and video games, then the future seems ripe with opportunity. The hope, as expressed by industry advocates, is that Binance’s presence will rejuvenate Japan’s crypto space, drawing in more foreign interest and innovation much like the crypto hubs of Dubai and Singapore. Forkast.Insights | What does it mean? The picture can look a little bleak for Binance in the West. U.S. regulation in particular and the threat of legal action there has slowed the company’s momentum. It has been forced to beat a hasty retreat from Canada and a host of European jurisdictions. The business landscape is also growing increasingly complicated in the U.K. The exchange announced Monday it will no longer accept new customers in the country in compliance with local regulations. Binance is far from alone in facing these challenges. Crypto businesses are struggling across the board. It’s just that Binance’s size and industry heft means it inevitably attracts a lot of the ire aimed at the wider industry. And like the wider industry, it’s now looking for opportunities beyond Europe and the U.S. — powerhouses for both traditional finance and the digital economy — toward the Asia-Pacific region, which is emerging as something of a crypto haven. One key region for the company is Japan. Blockchain intelligence firm Chainalysis shows that while India leads the world in crypto adoption and other APAC regions such as Indonesia and Vietnam are accelerating their crypto uptake, blockchain adoption in Japan is also significant. The nation’s government is never shy about promoting Japan as a regional hub for Web3, which it has positioned over the past year as a key economic growth strategy. It aims to use blockchain technologies like non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) to unlock hidden value in Japan’s graying society and address the rapid onset of regional depopulation. But exactly how it aims to do that remains unclear. While the will is there, Japanese developers express a lack of blockchain understanding among policy-makers. There is therefore a sense that a current wave of government enthusiasm for Web3 could fizzle out without any specific strides for the industry. Which is where Binance could step in. The exchange was able to fast-track its official arrival in Japan this August despite past run-ins with regulators. Despite the legal baggage it carries elsewhere, there is clearly a desire among policymakers and industry advocates to leverage the experience and technical knowhow that Binance brings to the table. Could Japan emerge as a home-away-from-home for the company? The official arrival of Binance Japan has at least stirred up a lot of conversation and crypto interest in the country. 2. Art and charity over apes in NFTs Refik Anadol’s AI-art NFTs bridge cutting-edge tech and cultural preservation, generating millions and benefiting the Yawanawa tribe. Source: CryptoSlam Refik Anadol’s artificial intelligence (AI)-created art collection “Winds of Yawanawa” is currently the top non-fungible token collection on the Ethereum blockchain. Over US$3.7 million in secondary sales of the collection have been recorded over the past seven days, marking a 446% increase since the collection’s unveiling last week. Winds of Yawanawa was responsible for 11.4% of Ethereum’s US$32 million in total NFT sales the past week. The highest sales within the collection include one NFT for 23 ETH (US$36.560.17), and 17 individuals sales at more than 15 ETH (over US$23,000) each. Refik Anadol’s art was featured on the exterior of The Sphere, an immersive events structure in Las Vegas, during the venue’s opening in September. The Museum of Modern Art welcomed Refik Anadol’s “Unsupervised — Machine Hallucinations” NFT into their permanent collection, making it the first NFT to be owned by MoMA. Forkast.Insights | What does it mean? It’s not often that art gets a chance to take center stage in NFTs, but when a milestone such as Refik Anadol’s recent accomplishments arrives, it must be talked about. For the past few weeks, Refik has represented the heart of NFTs, serving as a much needed distraction from the current 33-month low point for the NFT market. His art and its success has reminded the collective community about the roots of NFT technology, which is the provenance it preserves, and the financial opportunities it offers to artists. While Anadol’s art being featured on the Las Vegas Sphere and being acquired by the Museum of Modern art are milestones for NFTs, they’re equally as important for the world of AI art. His work lives at the cutting edge of two fronts, showcasing how AI can be used as a tool to create beauty, while using technology to preserve it. Using data from Acre Brazil’s Yawanawa tribe’s village in the Amazon rainforest, Refik painted wind speeds, direction, gusts, and temperatures onto a digital canvas with AI tools to create the iconic 1,000 edition “Winds of Yawanawa” collection. The collection also highlights another important side of NFTs, one that is rarely talked about. We’re accustomed to hearing about scams and manipulations across the blockchain industry, but seldom do we hear about good deeds in the NFT ecosystem. The “Winds of Yawanawa” collection was co-created with artists from the Yawanawa tribe, and because of that collaboration, the tribe earns royalties for each NFT sold on secondary markets. To date the “Winds of Yawanawa” collection has traded for over US$9.4 million, with 10% of all sales going directly to the Yawanawa tribe. While royalties are no longer enforced on marketplaces, most art collectors happily honor artists’ requested royalties.\xa0In a space that witnessed a US$6.2 million generative art sale over the summer, a US$69 million Beeple NFT sale in 2021, the Art Blocks platform’s US$1.4 billion in all-time sales, and now Refik Anadol’s milestone collection of AI art, a picture is being painted on the blockchain that may help you understand just how significant the art movement in NFTs really is. 3. Finks forecast: Golden Bitcoin era? BlackRock’s potential Bitcoin ETF signals growing institutional crypto interest, highlighting the asset’s responsiveness to global events and the need for due diligence in the digital age. Image: Canva BlackRock CEO Larry Fink addressed the recent fleeting surge in Bitcoin prices during an appearance on the Fox Business broadcast on Monday, highlighting the immense global interest in cryptocurrency. This surge was initially fueled by a rumor that the U.S. Securities and Exchange Commission (SEC) had given the green light to BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF). Fink refrained from delving into specifics but noted that the rally wasn’t solely based on the rumor. He attributed the upswing to worldwide concerns about the current Israel-Palestine conflict and what he described as escalating global terrorism. He discussed the growing trend of investors moving towards safer assets, whether it’s treasuries, gold, or even — at a time of global disruption in traditional markets — cryptocurrencies. The ETF rumor and spike in Bitcoin price originated from Cointelegraph, a cryptocurrency news platform. It claimed early Monday on social media platform X (formerly Twitter) that the SEC had approved BlackRock’s spot Bitcoin ETF application. However, Cointelegraph later retracted the claim. In the meantime, Bitcoin’s value briefly spiked to nearly US$30,000 before stabilizing back to within the US$28,000 range. In June, BlackRock lodged an application for its iShares Bitcoin Trust with the SEC. Should it gain approval, the firm plans to collaborate with Coinbase Custody as its custodian. Despite an influx of spot Bitcoin ETF applications from various institutions, the SEC has delayed a decision on approvals. Nevertheless, Steven Schoenfeld, a prominent figure in the industry, anticipates the SEC to approve all applications in the coming three to six months. Forkast.Insights | What does it mean? Bitcoin’s latest major price swing was fueled by the industry’s longing to see a spot Bitcoin ETF open for business in the world’s largest economy. It not only demonstrated investors’ appetite for cryptocurrencies, as noted by BlackRock’s Larry Fink. It also revealed the asset’s responsiveness to unfolding events and hearsay. The quick correction from Cointelegraph after the outlet’s mistaken ETF claim reflects the lightning-fast dissemination of information in the internet era. It fires a clear message to the financial community about the importance of due diligence in today’s rapid information age. BlackRock’s flirtation with the Bitcoin ETF sphere is a sign of the times, pointing toward a growing institutional interest in digital assets. A potential alliance with platforms like Coinbase Custody, contingent on regulatory blessings, could mark the beginning of an advanced framework for further institutional forays into the crypto world. For investors, a spot Bitcoin ETF would become another channel to legally bet on the success of digital assets. But for existing cryptocurrency industry participants, it would serve as a lifeline that brings much needed funds, liquidity and mainstream interest into the sector. The so-called “crypto winter” and wider macroeconomic headwinds have hastened the demise of multiple Web3 firms. Even the strongest and the fittest companies left behind now tend to operate with a much smaller workforce and war chest. The introduction of a spot Bitcoin ETF would be a turning point. While rejuvenating the dwindling reserves of these firms, this new financial instrument could also instill renewed confidence among stakeholders. As mainstream investors gain an easier and more regulated avenue into Bitcoin investment, the resultant inflow of capital could stabilize the volatile crypto market, fostering an environment ripe for increased growth and innovation.', '1. Japan — a new frontier for Binance?\n2. AI art sweeps NFT sales\n3. ETF buzz electrifies Bitcoin\nFrom the Editor’s Desk\nDear Reader,\nIt’s been quite the week for Binance. The world’s largest cryptocurrency exchange has been headline news on our pages for some time now. And that’s no mean feat considering the Sam Bankman-Fried trial is still only a few weeks old and readers all over the world remain glued to their screens, waiting to learn the fate of crypto’s most (in)famous individual.\nSecond on that list, arguably, is Changpang Zhao, known to most as CZ. The Binance CEO and co-founder was a one-time mentor to SBF. Something of a crypto-older-brother to the FTX founder, Zhao was there for Bankman-Fried in the early days of the collapsed exchange, becoming one of the first investors and helping FTX off the ground.\nBut he was also reportedly there as it all came crashing down. At one stage in November last year, when rumors of a multi-billion dollar shortfall in customer funds at FTX came to light, it appeared as though Zhao may step in to bail SBF out. But it wasn’t to be. Zhao and Binance pulled out of an agreement to buy FTX at the last minute and… well… we all know what happened next.\nFor some time before Bankman-Fried’s rapid fall from grace, there had been whispers that Zhao was less than impressed by the FTX boss’s apparent cozying-up to U.S. regulators. Some reports even allege that he had a hand in exposing the balance sheet discrepancies that brought the curtain down on FTX. It was Zhao, after all, who contributed to the run at FTX when he said he would sell all Binance’s holdings in its native token FTT.\nRegardless of Zhao’s alleged involvement in FTX’s demise, this could and should have been a triumphant moment for Binance. The exchange’s main rivals are no longer part of the picture. The company continues its outward expansion into territories new — Japan in particular representing a particularly promising growth market for the brand.\nBut it’s not exactly smooth sailing elsewhere. Binance said it will no longer register new users in the U.K. on Monday in response to the country’s new overseas promotion rules, while on Tuesday Binance.US announced it has suspended U.S. dollar withdrawals for U.S. customers. Add that to the announcement last week that Brazil’s regulators want to indict Zhao for running a pyramid scheme, and the picture starts to look far less rosy.\nOf course, Binance remains a juggernaut. Its website claims the exchange has 150 million users worldwide, enjoying a daily transaction volume of US$65 billion. But the lay of the land has without doubt turned a little bumpy, while there’s some really mountainous terrain up ahead.\nWhere the journey leads is yet to be decided. But knowing Binance and Zhao, it’s bound to be one heck of a ride.\nUntil the next time,\nAngie Lau,Founder and Editor-in-ChiefForkast.News\nBinance Japan started trading operations Aug. 1, launching with an impressive 34 coins on its platform. The number might be a fraction of what Binance’s global exchange offers, but for the Japanese crypto market, it marks a significant leap. The number places Binance Japan at the forefront of the domestic industry in terms of cryptocurrency variety.\n• The official arrival of Binance, the world’s largest cryptocurrency exchange, as a licensed entity in Japan, signals challenging times ahead for the multitude of smaller domestic exchanges already grappling with dwindling liquidity and an oversaturated market. As noted by Norbert Gehrke, founder of the Japan FinTech Observer newsletter, the dominance of Binance could potentially kill off many of these smaller competitors.\n• Binance has faced regulatory hurdles in Japan in the past. It received reprimands from the Financial Services Agency (FSA) for operating as an unlicensed online exchange in both 2018 and 2021. However, the company’s strategic acquisition of the Sakura Exchange BitCoin platform last year fast-tracked its official re-entry into the country.\n• Binance’s interest in the Japanese market showcases an industry-wide pivot toward the Asia Pacific market amidst growing U.S. resistance to crypto.\n• Despite past frictions, the country’s pro-crypto stance — led by Prime Minister Fumio Kishida’s endorsement of Web3 technologies — hints at a promising future for foreign crypto investments in the country. But some local competitors have raised concerns over Binance’s swift licensing process, suggesting a potential double standard.\n• While Binance’s global operations face legal scrutiny in various countries, experts like Tokyo-based fintech lawyer So Saito believe that existing Japanese regulations will safeguard local investors. As they were during the FTX collapse, Japanese assets are expected to remain secure even if Binance Global encounters challenges.\n• On the positive side for Binance and Japan, the entry of a global giant might just be the spark the domestic crypto industry needs to really get up and running. The market is shifting away from one-note cryptocurrency trading to the broader potentials of Web3. If developers can integrate Japan’s traditional strengths in areas like anime, manga, and video games, then the future seems ripe with opportunity.\n• The hope, as expressed by industry advocates, is that Binance’s presence will rejuvenate Japan’s crypto space, drawing in more foreign interest and innovation much like the crypto hubs of Dubai and Singapore.\nForkast.Insights | What does it mean?\nThe picture can look a little bleak for Binance in the West. U.S. regulation in particular and the threat of legal action there has slowed the company’s momentum. It has been forced to beat a hasty retreat from Canada and a host of European jurisdictions. The business landscape is also growing increasingly complicated in the U.K. The exchange announced Monday it will no longer accept new customers in the country in compliance with local regulations.\nBinance is far from alone in facing these challenges. Crypto businesses are struggling across the board. It’s just that Binance’s size and industry heft means it inevitably attracts a lot of the ire aimed at the wider industry. And like the wider industry, it’s now looking for opportunities beyond Europe and the U.S. — powerhouses for both traditional finance and the digital economy — toward the Asia-Pacific region, which is emerging as something of a crypto haven.\nOne key region for the company is Japan. Blockchain intelligence firm Chainalysis shows that while India leads the world in crypto adoption and other APAC regions such as Indonesia and Vietnam are accelerating their crypto uptak
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-19
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $553,121,664,712
- Hash Rate: 424739231.98894006
- Transaction Count: 282007.0
- Unique Addresses: 649723.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.52
**Other Textual Data:**
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- Contextual Past News Article: Kuala Lumpur, Malaysia--(Newsfile Corp. - September 12, 2023) - RXT Capital LTD is pleased to announce an investment in REE (Rare Earth Elements). The secret in developing environmentally friendly energy technology relies heavily on REE or commonly called Rare Earth Metals (LTJ). This metal is used in all semiconductors for cell phones, computers, turbines, and others. Currently, the price of REE is very expensive, but its existence is very necessary for the future of renewable energy. Neighboring countries like Indonesia, even though they have REE, have many obstacles to mining and processing them. By collaborating with Green Snow Tech which has started this, RXT Capital is maximizing the opportunity for investors around the world to take part in this mining.
Figure 1
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/180333_a96fcc2844881947_001full.jpg
RXT Capital LTD Hong Kong has taken 51% total ownership of the REE Mine. This step was taken in preparation for using Blockchain as a means for STO to share ownership. RXT Capital LTD, owner of RXT Token, has currently issued BOND Crypto worth ,500,000,000 USDT for Bitcoinland. For REE Mining, RXT Capital has opened a Trust Account Under Hong Kong Trust Capital Management (HKTCM), as the first step to make REE Mining accessible to investors all over the world.
Figure 2
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/180333_a96fcc2844881947_002full.jpg
RXT Capital plans to obtain fresh funds amounting to 3,000,000,000 USD (Three Billion USD) to start this business. Continuing to prioritize RXT (Rimaunangis) Token as its Token utility, RXT Capital LTD will continue to develop its business line as part of RXT World. This REE mine is located in Perak Province, with an initial area of 100 acres, and will increase to 5000 acres. Of course big names in Malaysia such as Petronas and the Malaysian Nuclear Agency will provide support. In this agreement, Dato Abdul Haadi Azhar as CEO of RXT Capital LTD and Dato Nik Abdul Mubin as CEO of Grennsnow Technologies SDN BHD, said it was time for the study, which had been carried out since 2021, to be enjoyed by the world.
Figure 3
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9711/180333_a96fcc2844881947_003full.jpg
RXT Capital and Greensnow Tech SDN BHD will bring the world to Green Energy that is more affordable and can be enjoyed by everyone. From Malaysia and Hong Kong to the World.
RXT Capital LTDHong Kong
Contact details:John [email protected]
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/180333...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Amid a global slowdown in venture investments for crypto projects, some companies continue to buck the trend.SynFutures, a decentralized crypto derivatives exchange, has completed a $22 million Series B funding round. Pantera Capital led the round, with participation from HashKey Capital and SIG DT Investments, a member of the Susquehanna International Group.\nSynFutures is rolling out its proprietary automated market maker (AMM) called Oyster alongside its new raise. AMM, which emerged with the rise of decentralized finance or DeFi, uses algorithmic robots to make it easier for traders to buy and sell crypto assets, rather than having them trade with a traditional order book.\nIn an interview with TechCrunch, SynFutures\' co-founder and CEO Rachel Lin compared her company to Amazon where "any market maker can list assets in 30 seconds." The speed is possible thanks to the use of smart contracts, which are lines of code on a blockchain that execute actions based on predetermined conditions. On Oyster, these programs are responsible for everything from pricing to settlements to PnL (profit and loss) analysis.\nWhile AMM has become the backbone of DeFi, SynFutures wants to address one of DeFi\'s biggest challenges today -- capital efficiency -- by enabling on-chain orderbook functionalities that are normally associated with traditional finance.\nAs weexplainedin our coverage of Brine Fi, another Pantera-backed DeFi exchange:\nAn orderbook, as in a traditional stock market, matches buyers and sellers based on price and quantity. It allows for types of orders not possible on a DEX, which are ideal for institutional traders because it lets them better manage their positions under different market conditions and minimize slippage, the different trade execution price than intended.\nSynFutures\' target users, according to Lin, are "high net-worth individuals and small institutions." To date, the company has amassed some 100,000 all-time traders (though one trader might have various wallet addresses). Its trading volume since October 2021 has reached $21 billion.\nThat\'s a lot of money overseen by SynFutures\' small team. Compared to the behemoth size of centralized exchanges, the startup has managed to stay lean thanks to its use of smart contract that automates listing, employing a team of around 20 employees.\nSynFutures is one of many startups capitalizing on a new demand spurred by FTX\'s demise, namely, the need for more transparent, decentralized forms of crypto trading. All transactions facilitated by SynFutures happen on-chain, and users\' funds are stored in self-custodial wallets.\n"There\'s no way for us to do any backdoor out there," noted Lin. "For every fund, you could see yourself: how are the funds doing? What is the exact price that you\'re trading at? What is the exact liquidity line?"\nLin expects another DeFi boom in the next two years as its underlying blockchain technology matures. She noted that three years ago when "DeFi summer" came, crypto spot trading volume was less than 1% of the market\'s total spot trading volume; right now, its share is13-14%.\n"Derivatives have another dimension, call time, so it has a much higher requirement on infrastructures because there\'s liquidation involved," Lin explained.\nSynFutures has bold ambitions to challenge centralized exchanges and even traditional financial giants like JPMorgan someday. Of course, these entrenched players are not complacent and gearing up to defend their positions.\nHaving worked at Deutsche Bank, Lin observed that traditional financial institutions are indeed experimenting with blockchain -- one needs to look no further thanFidelity and BlackRock\'s rush into Bitcoin ETF.However, these efforts tend to be quite separate from their core money-making products. "There are a lot of departments and internal politics," she added.\nAs with centralized finance, security is a major concern for DeFi as the underpinning smart contracts are vulnerable to hacking attempts. Curve, one of the largest decentralized exchanges,lost $62 million this yeardue to a programming bug.\nAnother pressing issue for DeFi is regulatory uncertainty. While regulators are currently fixated on centralized crypto services like Binance for their significant market size (it\'s also easier to target a centralized entity), there are still no clear guidelines from any jurisdiction on how compliance can be done on DeFi, said Lin, though there are examples to draw from.\nOne of the existing practices requires institutions to undergo a know-your-customer (KYC) process before they can participate in certain whitelisted-only pools. The other way to work toward compliance is for DeFi protocols themselves to remain permissionless -- the gateways, for example, wallets and exchanges that offer access to the protocols -- to introduce the KYC layer.\n"For example, for the latter approach, users burn or mint USDC via their KYC’d wallets, but once that USDC is minted, it can be freely transferred to third parties," explained Lin. "Here, while on-chain AML [anti-money laundering] checks would still apply due to the industry’s ‘blacklist’ practice, which blocks known terrorist or hacker wallet addresses, these third parties would not be KYC’d."\nBrine Fi challenges Coinbase, Binance with decentralized exchange as it nets Pantera-led $16.5M round', 'Amid a global slowdown in venture investments for crypto projects, some companies continue to buck the trend. SynFutures , a decentralized crypto derivatives exchange, has completed a $22 million Series B funding round. Pantera Capital led the round, with participation from HashKey Capital and SIG DT Investments, a member of the Susquehanna International Group. SynFutures is rolling out its proprietary automated market maker (AMM) called Oyster alongside its new raise. AMM, which emerged with the rise of decentralized finance or DeFi, uses algorithmic robots to make it easier for traders to buy and sell crypto assets, rather than having them trade with a traditional order book. In an interview with TechCrunch, SynFutures\' co-founder and CEO Rachel Lin compared her company to Amazon where "any market maker can list assets in 30 seconds." The speed is possible thanks to the use of smart contracts, which are lines of code on a blockchain that execute actions based on predetermined conditions. On Oyster, these programs are responsible for everything from pricing to settlements to PnL (profit and loss) analysis. While AMM has become the backbone of DeFi, SynFutures wants to address one of DeFi\'s biggest challenges today -- capital efficiency -- by enabling on-chain orderbook functionalities that are normally associated with traditional finance. As we explained in our coverage of Brine Fi, another Pantera-backed DeFi exchange: An orderbook, as in a traditional stock market, matches buyers and sellers based on price and quantity. It allows for types of orders not possible on a DEX, which are ideal for institutional traders because it lets them better manage their positions under different market conditions and minimize slippage, the different trade execution price than intended. SynFutures\' target users, according to Lin, are "high net-worth individuals and small institutions." To date, the company has amassed some 100,000 all-time traders (though one trader might have various wallet addresses). Its trading volume since October 2021 has reached $21 billion. That\'s a lot of money overseen by SynFutures\' small team. Compared to the behemoth size of centralized exchanges, the startup has managed to stay lean thanks to its use of smart contract that automates listing, employing a team of around 20 employees. Demand for decentralization SynFutures is one of many startups capitalizing on a new demand spurred by FTX\'s demise, namely, the need for more transparent, decentralized forms of crypto trading. All transactions facilitated by SynFutures happen on-chain, and users\' funds are stored in self-custodial wallets. Story continues "There\'s no way for us to do any backdoor out there," noted Lin. "For every fund, you could see yourself: how are the funds doing? What is the exact price that you\'re trading at? What is the exact liquidity line?" Lin expects another DeFi boom in the next two years as its underlying blockchain technology matures. She noted that three years ago when " DeFi summer " came, crypto spot trading volume was less than 1% of the market\'s total spot trading volume; right now, its share is 13-14% . "Derivatives have another dimension, call time, so it has a much higher requirement on infrastructures because there\'s liquidation involved," Lin explained. SynFutures has bold ambitions to challenge centralized exchanges and even traditional financial giants like JPMorgan someday. Of course, these entrenched players are not complacent and gearing up to defend their positions. Having worked at Deutsche Bank, Lin observed that traditional financial institutions are indeed experimenting with blockchain -- one needs to look no further than Fidelity and BlackRock\'s rush into Bitcoin ETF. However, these efforts tend to be quite separate from their core money-making products. "There are a lot of departments and internal politics," she added. Uncertainty abounds As with centralized finance, security is a major concern for DeFi as the underpinning smart contracts are vulnerable to hacking attempts. Curve, one of the largest decentralized exchanges, lost $62 million this year due to a programming bug. Another pressing issue for DeFi is regulatory uncertainty. While regulators are currently fixated on centralized crypto services like Binance for their significant market size (it\'s also easier to target a centralized entity), there are still no clear guidelines from any jurisdiction on how compliance can be done on DeFi, said Lin, though there are examples to draw from. One of the existing practices requires institutions to undergo a know-your-customer (KYC) process before they can participate in certain whitelisted-only pools. The other way to work toward compliance is for DeFi protocols themselves to remain permissionless -- the gateways, for example, wallets and exchanges that offer access to the protocols -- to introduce the KYC layer. "For example, for the latter approach, users burn or mint USDC via their KYC’d wallets, but once that USDC is minted, it can be freely transferred to third parties," explained Lin. "Here, while on-chain AML [anti-money laundering] checks would still apply due to the industry’s ‘blacklist’ practice, which blocks known terrorist or hacker wallet addresses, these third parties would not be KYC’d." Brine Fi challenges Coinbase, Binance with decentralized exchange as it nets Pantera-led $16.5M round View comments', '• US stocks dropped on Thursday following comments from Federal Reserve Chairman Jerome Powell.\n• Powell said that inflation is still too elevated and reiterated the higher-for-longer outlook for rates.\n• "Does it feel like policy is too tight right now? I would have to say no," Powell said.\nUS stocks fell on Thursday after comments from Federal Reserve President Jerome Powell indicated that interest rates are likely to stay higher for longer.\n"Inflation is still too high, and a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal," Powell said to the Economic Club of New York.\n"Does it feel like policy is too tight right now? I would have to say no," Powell said, adding that the Fed remains committed to bringing inflation back down to its long-term 2% target.\nThe comments from Powell sent stocks lower and bond yields higher, with the 10-year US Treasury yield hitting a high of 4.99%, representing its highest level since June 2007.\nInvestors are also digesting a slew of earnings reports from companies,including Tesla, which missed analyst\'s profit and revenue estimates,and Netflix,which beat expectations.\nOf the 64 S&P 500 companies that have reported third-quarter earnings results so far, 73% have beaten profit estimates by a median of 6%, according to data from Fundstrat.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Thursday:\n• S&P 500:4,277.98, down 0.85%\n• Dow Jones Industrial Average:33,413.45, down 0.75% (- 251.63 points)\n• Nasdaq Composite:13,186.18, down 0.96%\nHere\'s what else happened today:\n• America is in a "cardboard-box recession,"and inflation could surge again, Charles Schwab\'s top global strategist said.\n• Tesla is on track to wipe out $40 billion in market valueas its shares fell 6% following Elon Musk\'s downbeat Cybertruck outlook.\n• Netflix stock surged about 15% on Thursdayafter the company said it added nearly 9 million subscribers during its third quarter.\n• Argentina\'s lust for the US dollarpushed its black-market rate up 60,000% since peso parity ended in 2002.\n• The biggest bond ETF fell to its lowest level since July 2007as the bond market meltdown continues, with the iShares 20+ Year Treasury Bond ETF down 2% on Thursday.\n• Venezuelan bonds rallied 90% on Thursday,as the US did away with bans that prohibited American investors from trading the country\'s debt.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil jumped 2.38% to $89.35 a barrel.Brent crude, the international benchmark, surged 1.95% to $93.28 a barrel.\n• Goldrose 1.10% to $1,990.00 per ounce.\n• The 10-year Treasury yield jumped 8 basis points to 4.98% on Thursday.\n• Bitcoinrose 1.43% to $28,732.\nRead the original article onBusiness Insider', 'Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on February 01, 2023 in Washington, DC. Kevin Dietsch/Getty Images US stocks dropped on Thursday following comments from Federal Reserve Chairman Jerome Powell. Powell said that inflation is still too elevated and reiterated the higher-for-longer outlook for rates. "Does it feel like policy is too tight right now? I would have to say no," Powell said. US stocks fell on Thursday after comments from Federal Reserve President Jerome Powell indicated that interest rates are likely to stay higher for longer. "Inflation is still too high, and a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal," Powell said to the Economic Club of New York. "Does it feel like policy is too tight right now? I would have to say no," Powell said, adding that the Fed remains committed to bringing inflation back down to its long-term 2% target. The comments from Powell sent stocks lower and bond yields higher, with the 10-year US Treasury yield hitting a high of 4.99%, representing its highest level since June 2007. Investors are also digesting a slew of earnings reports from companies, including Tesla, which missed analyst\'s profit and revenue estimates, and Netflix, which beat expectations. Of the 64 S&P 500 companies that have reported third-quarter earnings results so far, 73% have beaten profit estimates by a median of 6%, according to data from Fundstrat. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Thursday: S&P 500 : 4,277.98, down 0.85% Dow Jones Industrial Average : 33,413.45, down 0.75% (- 251.63 points) Nasdaq Composite : 13,186.18, down 0.96% Here\'s what else happened today: America is in a "cardboard-box recession," and inflation could surge again, Charles Schwab\'s top global strategist said. Tesla is on track to wipe out $40 billion in market value as its shares fell 6% following Elon Musk\'s downbeat Cybertruck outlook. Netflix stock surged about 15% on Thursday after the company said it added nearly 9 million subscribers during its third quarter. Argentina\'s lust for the US dollar pushed its black-market rate up 60,000% since peso parity ended in 2002. The biggest bond ETF fell to its lowest level since July 2007 as the bond market meltdown continues, with the iShares 20+ Year Treasury Bond ETF down 2% on Thursday. Venezuelan bonds rallied 90% on Thursday, as the US did away with bans that prohibited American investors from trading the country\'s debt. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil jumped 2.38% to $89.35 a barrel. Brent crude , the international benchmark, surged 1.95% to $93.28 a barrel. Gold rose 1.10% to $1,990.00 per ounce. The 10-year Treasury yield jumped 8 basis points to 4.98% on Thursday. Bitcoin rose 1.43% to $28,732. Read the original article on Business Insider', "Bitcoin miners continue to invest in upgraded hardware and new facilities despite the world’s most valuable digital asset trading sideways since March.\nThe hashrate - a measure of the processing power being contributed to the Bitcoin network – hit an all-time high of 455 exahashes per second (EH/s) on Oct. 12 and has doubled since the beginning of the year.\nOn Oct. 16, Bitcoin’s difficulty surpassed 61 trillion at block height 812,448, marking a new record for the network. Bitcoin difficulty is a measure of how hard it is to mine new blocks on the Bitcoin blockchain, automatically adjusting approximately every two weeks – 2016 blocks – to maintain a 10-minute block time.\nDifficulty and hashrate in Bitcoin are related – as the total hashrate of the network increases, the difficulty level adjusts upwards to maintain the system's stability.\nCurrently, the top five mining pools are Foundry USA, Antpool, Viabtc, F2pool, and Binance Pool. Over the past week, Foundry contributed 29% of the overall network's hashrate, closely followed by Antpool with 27%.\nCurrently, once a miner successfully mines a block, they are rewarded with 6.25 BTC as well as transaction fees paid by users for including their transactions in the block.\nEvery four years, this block reward is reduced by half, with the next halving just six months away. Halving events are closely monitored by the crypto community and have significant effects on the economics of mining. As the block reward decreases, miners must rely more on transaction fees, which can lead to increased competition among miners and potentially higher transaction fees for users.\nHalving events will continue until the maximum supply of 21 million bitcoins is reached, which is expected to occur around the year 2140. After that point, no new bitcoins will be created through mining, and miners are expected to rely solely on transaction fees for their rewards.\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "Bitcoin miners continue to invest in upgraded hardware and new facilities despite the world’s most valuable digital asset trading sideways since March.\nThe hashrate - a measure of the processing power being contributed to the Bitcoin network – hit an all-time high of 455 exahashes per second (EH/s) on Oct. 12 and has doubled since the beginning of the year.\nOn Oct. 16, Bitcoin’s difficulty surpassed 61 trillion at block height 812,448, marking a new record for the network. Bitcoin difficulty is a measure of how hard it is to mine new blocks on the Bitcoin blockchain, automatically adjusting approximately every two weeks – 2016 blocks – to maintain a 10-minute block time.\nDifficulty and hashrate in Bitcoin are related – as the total hashrate of the network increases, the difficulty level adjusts upwards to maintain the system's stability.\nCurrently, the top five mining pools are Foundry USA, Antpool, Viabtc, F2pool, and Binance Pool. Over the past week, Foundry contributed 29% of the overall network's hashrate, closely followed by Antpool with 27%.\nCurrently, once a miner successfully mines a block, they are rewarded with 6.25 BTC as well as transaction fees paid by users for including their transactions in the block.\nEvery four years, this block reward is reduced by half, with the next halving just six months away. Halving events are closely monitored by the crypto community and have significant effects on the economics of mining. As the block reward decreases, miners must rely more on transaction fees, which can lead to increased competition among miners and potentially higher transaction fees for users.\nHalving events will continue until the maximum supply of 21 million bitcoins is reached, which is expected to occur around the year 2140. After that point, no new bitcoins will be created through mining, and miners are expected to rely solely on transaction fees for their rewards.\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "Bitcoin miners continue to invest in upgraded hardware and new facilities despite the world’s most valuable digital asset trading sideways since March. The hashrate - a measure of the processing power being contributed to the Bitcoin network – hit an all-time high of 455 exahashes per second (EH/s) on Oct. 12 and has doubled since the beginning of the year. BTC Hashrate chart On Oct. 16, Bitcoin’s difficulty surpassed 61 trillion at block height 812,448, marking a new record for the network. Bitcoin difficulty is a measure of how hard it is to mine new blocks on the Bitcoin blockchain, automatically adjusting approximately every two weeks – 2016 blocks – to maintain a 10-minute block time. Difficulty and hashrate in Bitcoin are related – as the total hashrate of the network increases, the difficulty level adjusts upwards to maintain the system's stability. Currently, the top five mining pools are Foundry USA, Antpool, Viabtc, F2pool, and Binance Pool. Over the past week, Foundry contributed 29% of the overall network's hashrate, closely followed by Antpool with 27%. Blocks Produced (Last 7 Days) Bitcoin Halving Currently, once a miner successfully mines a block, they are rewarded with 6.25 BTC as well as transaction fees paid by users for including their transactions in the block. Every four years, this block reward is reduced by half, with the next halving just six months away. Halving events are closely monitored by the crypto community and have significant effects on the economics of mining. As the block reward decreases, miners must rely more on transaction fees, which can lead to increased competition among miners and potentially higher transaction fees for users. Halving events will continue until the maximum supply of 21 million bitcoins is reached, which is expected to occur around the year 2140. After that point, no new bitcoins will be created through mining, and miners are expected to rely solely on transaction fees for their rewards. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io View comments", 'The U.S. Securities and Exchange Commission (SEC) has dropped all charges against Ripple Labs\xa0 Chief Executive Officer Brad Garlinghouse and Executive Chairman Chris Larsen, according to an Oct. 19 court filing. See related article: XRP triumphs over SEC, but crypto clarity remains in the shadows Fast Facts: The SEC will no longer pursue claims that Ripple’s Garlinghouse and Larsen aided the company in violating securities laws related to its XRP transactions. According to Thursday’s filing , the parties agreed to voluntarily dismiss the aiding and abetting charges with prejudice, meaning that the charges can’t be filed again. The filing added that the SEC will continue pursuing its claims against Ripple. In July, Judge Torres ruled Ripple Labs’ programmatic sales of the XRP token to retail investors did not qualify as financial securities. The judge granted the SEC to file an interlocutory appeal until Aug. 18. Interlocutory appeals occur before all claims to both parties are resolved and are only allowed under specific circumstances. Earlier this month, Judge Analisa Tores rejected the agency’s interlocutory motion to overturn her ruling. In December 2020, the SEC sued the San Francisco-based technology firm and its executives alleging that Ripple’s sale of XRP was an unregistered securities offering. The XR P token rose 6.49% in the 24 hours leading up to 4:50 p.m. in Hong Kong, to trade at US$0.512, according to CoinMarketCap . See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024', 'The U.S. Securities and Exchange Commission (SEC) has dropped all charges against Ripple Labs\xa0 Chief Executive Officer Brad Garlinghouse and Executive Chairman Chris Larsen, according to an Oct. 19 court filing. See related article: XRP triumphs over SEC, but crypto clarity remains in the shadows Fast Facts: The SEC will no longer pursue claims that Ripple’s Garlinghouse and Larsen aided the company in violating securities laws related to its XRP transactions. According to Thursday’s filing , the parties agreed to voluntarily dismiss the aiding and abetting charges with prejudice, meaning that the charges can’t be filed again. The filing added that the SEC will continue pursuing its claims against Ripple. In July, Judge Torres ruled Ripple Labs’ programmatic sales of the XRP token to retail investors did not qualify as financial securities. The judge granted the SEC to file an interlocutory appeal until Aug. 18. Interlocutory appeals occur before all claims to both parties are resolved and are only allowed under specific circumstances. Earlier this month, Judge Analisa Tores rejected the agency’s interlocutory motion to overturn her ruling. In December 2020, the SEC sued the San Francisco-based technology firm and its executives alleging that Ripple’s sale of XRP was an unregistered securities offering. The XR P token rose 6.49% in the 24 hours leading up to 4:50 p.m. in Hong Kong, to trade at US$0.512, according to CoinMarketCap . See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024', 'LONDON (Reuters) -Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies.\nBitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day.\nThere was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. Bitcoin is known for its volatility and the opacity of its markets.\nThe mood across the broader financial markets has also been nervy lately. Investor sentiment has been rattled by war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5% and concern about the prospect of interest rates staying a lot higher for a lot longer.\nBitcoin markets have been especially skittish this week, as investors await news of the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF) by major financial firms including BlackRock.\nThe approval of any such applications, crypto investors have said, could usher in a new wave of capital to the asset class.\n"Crypto assets are increasingly bucking the sell-off seen across stocks and bonds, as investors focus on the coming catalysts, like a potential SEC approval of a spot ETF," eToro strategist Ben Laidler said.\nBitcoin rose suddenly on Monday, before giving up nearly all its gains, after asset manager BlackRock denied a crypto media report that its high-profile ETF application has been approved.\n(Reporting by Tom Wilson and Elizabeth Howcroft; Editing by Amanda Cooper)', 'LONDON (Reuters) -Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies. Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day. There was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. Bitcoin is known for its volatility and the opacity of its markets. The mood across the broader financial markets has also been nervy lately. Investor sentiment has been rattled by war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5% and concern about the prospect of interest rates staying a lot higher for a lot longer. Bitcoin markets have been especially skittish this week, as investors await news of the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF) by major financial firms including BlackRock. The approval of any such applications, crypto investors have said, could usher in a new wave of capital to the asset class. "Crypto assets are increasingly bucking the sell-off seen across stocks and bonds, as investors focus on the coming catalysts, like a potential SEC approval of a spot ETF," eToro strategist Ben Laidler said. Bitcoin rose suddenly on Monday, before giving up nearly all its gains, after asset manager BlackRock denied a crypto media report that its high-profile ETF application has been approved. (Reporting by Tom Wilson and Elizabeth Howcroft; Editing by Amanda Cooper)', 'LONDON (Reuters) -Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies. Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day. There was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. Bitcoin is known for its volatility and the opacity of its markets. The mood across the broader financial markets has also been nervy lately. Investor sentiment has been rattled by war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5% and concern about the prospect of interest rates staying a lot higher for a lot longer. Bitcoin markets have been especially skittish this week, as investors await news of the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF) by major financial firms including BlackRock. The approval of any such applications, crypto investors have said, could usher in a new wave of capital to the asset class. "Crypto assets are increasingly bucking the sell-off seen across stocks and bonds, as investors focus on the coming catalysts, like a potential SEC approval of a spot ETF," eToro strategist Ben Laidler said. Bitcoin rose suddenly on Monday, before giving up nearly all its gains, after asset manager BlackRock denied a crypto media report that its high-profile ETF application has been approved. (Reporting by Tom Wilson and Elizabeth Howcroft; Editing by Amanda Cooper)', 'LONDON (Reuters) -Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies. Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day. There was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. Bitcoin is known for its volatility and the opacity of its markets. The mood across the broader financial markets has also been nervy lately. Investor sentiment has been rattled by war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5% and concern about the prospect of interest rates staying a lot higher for a lot longer. Bitcoin markets have been especially skittish this week, as investors await news of the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF) by major financial firms including BlackRock. The approval of any such applications, crypto investors have said, could usher in a new wave of capital to the asset class. "Crypto assets are increasingly bucking the sell-off seen across stocks and bonds, as investors focus on the coming catalysts, like a potential SEC approval of a spot ETF," eToro strategist Ben Laidler said. Bitcoin rose suddenly on Monday, before giving up nearly all its gains, after asset manager BlackRock denied a crypto media report that its high-profile ETF application has been approved. (Reporting by Tom Wilson and Elizabeth Howcroft; Editing by Amanda Cooper) View comments', 'LONDON (Reuters) -Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies. Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day. There was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. Bitcoin is known for its volatility and the opacity of its markets. The mood across the broader financial markets has also been nervy lately. Investor sentiment has been rattled by war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5% and concern about the prospect of interest rates staying a lot higher for a lot longer. Bitcoin markets have been especially skittish this week, as investors await news of the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF) by major financial firms including BlackRock. The approval of any such applications, crypto investors have said, could usher in a new wave of capital to the asset class. "Crypto assets are increasingly bucking the sell-off seen across stocks and bonds, as investors focus on the coming catalysts, like a potential SEC approval of a spot ETF," eToro strategist Ben Laidler said. Bitcoin rose suddenly on Monday, before giving up nearly all its gains, after asset manager BlackRock denied a crypto media report that its high-profile ETF application has been approved. (Reporting by Tom Wilson and Elizabeth Howcroft; Editing by Amanda Cooper)', 'LONDON (Reuters) -Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies.\nBitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day.\nThere was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. Bitcoin is known for its volatility and the opacity of its markets.\nThe mood across the broader financial markets has also been nervy lately. Investor sentiment has been rattled by war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5% and concern about the prospect of interest rates staying a lot higher for a lot longer.\nBitcoin markets have been especially skittish this week, as investors await news of the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF) by major financial firms including BlackRock.\nThe approval of any such applications, crypto investors have said, could usher in a new wave of capital to the asset class.\n"Crypto assets are increasingly bucking the sell-off seen across stocks and bonds, as investors focus on the coming catalysts, like a potential SEC approval of a spot ETF," eToro strategist Ben Laidler said.\nBitcoin rose suddenly on Monday, before giving up nearly all its gains, after asset manager BlackRock denied a crypto media report that its high-profile ETF application has been approved.\n(Reporting by Tom Wilson and Elizabeth Howcroft; Editing by Amanda Cooper)', 'SYS Labs Announces Rollux Phase 2 With Full Set of Apps and Services To Bolster Interoperability and Inclusivity in DeFi. DUBAI, UAE / ACCESSWIRE / October 20, 2023 / SYS Labs, a Web3 product suite powered by Syscoin, has announced the next phase of Rollux, an innovative EVM Layer-2 solution. Harnessing the strength of Bitcoin to optimize the performance of Ethereum network applications, Rollux has introduced a full suite of DeFi tools -including a ZK-lite client, cross-chain bridges, DEXs, liquidity protocols, yield aggregators and a launchpad- to lay the foundation of a comprehensive Web3 ecosystem. Designed to address the blockchain trilemma, Rollux is developed by SYS Labs as part of a comprehensive ecosystem built on speed, scalability, and affordability. With its Phase 2 rollout, Rollux ramps up interoperability across blockchains while providing end-to-end Web3 tools and services that benefit from the security of Bitcoin\'s mining network and Syscoin\'s Layer 1 finality and data availability. After becoming the only rollup rooted in OP Stack with a seamless data availability solution (PoDA) and secured by Bitcoin via merged mining, Rollux marked the next phase of its evolution by vastly expanding its DeFi offerings, which will grant users and developers easier access to its ecosystem. Powered by Rollux, SuperDapp is the epitome of how a Web3 ecosystem rooted in Bitcoin can benefit from privacy and security for online interactions. SuperDapp features a unique blend of services, including an AI assistant, instant messaging, video calls, a non-custodial crypto wallet and a developer marketplace. It is a comprehensive platform that brings together the best of chat, Web3, and social connections, making it a perfect fit within the Rollux ecosystem. Utilizing Syscoin\'s dual Layer-1 architecture, Rollux sits atop a robust foundation that features both a native UTXO chain and an NEVM chain. The newly launched UTXO bridge aims to enable a smooth migration to Rollux\'s EVM L2, establishing the missing link between UTXO and Layer-2 by popular demand. Story continues The Rollux ecosystem was introduced with Pegasys DeFi exchange and AMM, Luxy NFT Platform, Pali Wallet (web & mobile), DAOSYS, and Camada, a noncustodial, regulatory-compliant crypto trading platform. Rollux expanded its suite of Web3 apps and services to include Chainge cross-chain aggregated DEX, Agave DeFi lending protocol, Gamma liquidity protocol, Nexter prediction market, GoRollux launchpad, Beefy yield aggregator, and LayerSwap, the first and only bridge that allows for direct and instant transfers from centralized exchanges to blockchains. Commenting on the plethora of Web3 tools added to the Rollux ecosystem, SYS Labs CEO Jagdeep Sidhu said: "Rollux Phase 2 is not merely an update; it\'s a quantum leap in the DeFi universe. With a suite of revolutionary features and a community-centric ethos, Rollux is the epitome of innovation and inclusivity." About Rollux Built by SYS Labs, powered by Syscoin, and fueled by its utility token, $SYS. Rollux is an EVM-equivalent optimistic rollup that inherits the security of Bitcoin\'s mining network and Syscoin\'s Layer 1 finality and data availability. Rollux functions as Syscoin\'s Layer 2 to help provide the unprecedented scalability necessary for an exponential increase of potential use cases, and sets the stage for realizing mass adoption. Rollux offers what no one else does: unmitigated security, speed, decentralization, and affordability. Website | Syscoin\'s Website | Twitter | Discord About SYS Labs SYS Labs is the crucible where cutting-edge technology and financial revolution converge, building the fundamental layers of true Web3, and connecting users, dApps, and assets to create seamless flows between ecosystems. SYS Labs is a venture builder that creates the infrastructure, dApps, and tools necessary to meet the needs and desires of a global population, all backed by Bitcoin\'s security and enhanced by Syscoin\'s finality and groundbreaking L1 data availability solution, PoDA. Website | Medium | Twitter Press Contact: Dylan Stewart Email: [email protected] SOURCE: SYS Labs View source version on accesswire.com: https://www.accesswire.com/794924/rollux-launches-next-phase-with-full-suite-of-defi-tools-backed-by-bitcoin', 'SYS Labs Announces Rollux Phase 2 With Full Set of Apps and Services To Bolster Interoperability and Inclusivity in DeFi.\nDUBAI, UAE / ACCESSWIRE / October 20, 2023 /SYS Labs, a Web3 product suite powered by Syscoin, has announced the next phase of Rollux, an innovative EVM Layer-2 solution. Harnessing the strength of Bitcoin to optimize the performance of Ethereum network applications, Rollux has introduced a full suite of DeFi tools -including a ZK-lite client, cross-chain bridges, DEXs, liquidity protocols, yield aggregators and a launchpad- to lay the foundation of a comprehensive Web3 ecosystem.\nDesigned to address the blockchain trilemma, Rollux is developed by SYS Labs as part of a comprehensive ecosystem built on speed, scalability, and affordability. With its Phase 2 rollout, Rollux ramps up interoperability across blockchains while providing end-to-end Web3 tools and services that benefit from the security of Bitcoin\'s mining network and Syscoin\'s Layer 1 finality and data availability.\nAfter becoming the only rollup rooted in OP Stack with a seamless data availability solution (PoDA) and secured by Bitcoin via merged mining, Rollux marked the next phase of its evolution by vastly expanding its DeFi offerings, which will grant users and developers easier access to its ecosystem.\nPowered by Rollux, SuperDapp is the epitome of how a Web3 ecosystem rooted in Bitcoin can benefit from privacy and security for online interactions. SuperDapp features a unique blend of services, including an AI assistant, instant messaging, video calls, a non-custodial crypto wallet and a developer marketplace. It is a comprehensive platform that brings together the best of chat, Web3, and social connections, making it a perfect fit within the Rollux ecosystem.\nUtilizing Syscoin\'s dual Layer-1 architecture, Rollux sits atop a robust foundation that features both a native UTXO chain and an NEVM chain. The newly launched UTXO bridge aims to enable a smooth migration to Rollux\'s EVM L2, establishing the missing link between UTXO and Layer-2 by popular demand.\nThe Rollux ecosystem was introduced with Pegasys DeFi exchange and AMM, Luxy NFT Platform, Pali Wallet (web & mobile), DAOSYS, and Camada, a noncustodial, regulatory-compliant crypto trading platform. Rollux expanded its suite of Web3 apps and services to include Chainge cross-chain aggregated DEX, Agave DeFi lending protocol, Gamma liquidity protocol, Nexter prediction market, GoRollux launchpad, Beefy yield aggregator, and LayerSwap, the first and only bridge that allows for direct and instant transfers from centralized exchanges to blockchains.\nCommenting on the plethora of Web3 tools added to the Rollux ecosystem, SYS Labs CEO Jagdeep Sidhu said: "Rollux Phase 2 is not merely an update; it\'s a quantum leap in the DeFi universe. With a suite of revolutionary features and a community-centric ethos,\nRollux is the epitome of innovation and inclusivity."\nAbout Rollux\nBuilt by SYS Labs, powered by Syscoin, and fueled by its utility token, $SYS. Rollux is an EVM-equivalent optimistic rollup that inherits the security of Bitcoin\'s mining network and Syscoin\'s Layer 1 finality and data availability. Rollux functions as Syscoin\'s Layer 2 to help provide the unprecedented scalability necessary for an exponential increase of potential use cases, and sets the stage for realizing mass adoption. Rollux offers what no one else does: unmitigated security, speed, decentralization, and affordability.\nWebsite|Syscoin\'s Website|Twitter|Discord\nAbout SYS Labs\nSYS Labs is the crucible where cutting-edge technology and financial revolution converge, building the fundamental layers of true Web3, and connecting users, dApps, and assets to create seamless flows between ecosystems. SYS Labs is a venture builder that creates the infrastructure, dApps, and tools necessary to meet the needs and desires of a global population, all backed by Bitcoin\'s security and enhanced by Syscoin\'s finality and groundbreaking L1 data availability solution, PoDA.\nWebsite|Medium|Twitter\nPress Contact:\nDylan StewartEmail:[email protected]\nSOURCE:SYS Labs\nView source version on accesswire.com:https://www.accesswire.com/794924/rollux-launches-next-phase-with-full-suite-of-defi-tools-backed-by-bitcoin', 'SYS Labs Announces Rollux Phase 2 With Full Set of Apps and Services To Bolster Interoperability and Inclusivity in DeFi.\nDUBAI, UAE / ACCESSWIRE / October 20, 2023 /SYS Labs, a Web3 product suite powered by Syscoin, has announced the next phase of Rollux, an innovative EVM Layer-2 solution. Harnessing the strength of Bitcoin to optimize the performance of Ethereum network applications, Rollux has introduced a full suite of DeFi tools -including a ZK-lite client, cross-chain bridges, DEXs, liquidity protocols, yield aggregators and a launchpad- to lay the foundation of a comprehensive Web3 ecosystem.\nDesigned to address the blockchain trilemma, Rollux is developed by SYS Labs as part of a comprehensive ecosystem built on speed, scalability, and affordability. With its Phase 2 rollout, Rollux ramps up interoperability across blockchains while providing end-to-end Web3 tools and services that benefit from the security of Bitcoin\'s mining network and Syscoin\'s Layer 1 finality and data availability.\nAfter becoming the only rollup rooted in OP Stack with a seamless data availability solution (PoDA) and secured by Bitcoin via merged mining, Rollux marked the next phase of its evolution by vastly expanding its DeFi offerings, which will grant users and developers easier access to its ecosystem.\nPowered by Rollux, SuperDapp is the epitome of how a Web3 ecosystem rooted in Bitcoin can benefit from privacy and security for online interactions. SuperDapp features a unique blend of services, including an AI assistant, instant messaging, video calls, a non-custodial crypto wallet and a developer marketplace. It is a comprehensive platform that brings together the best of chat, Web3, and social connections, making it a perfect fit within the Rollux ecosystem.\nUtilizing Syscoin\'s dual Layer-1 architecture, Rollux sits atop a robust foundation that features both a native UTXO chain and an NEVM chain. The newly launched UTXO bridge aims to enable a smooth migration to Rollux\'s EVM L2, establishing the missing link between UTXO and Layer-2 by popular demand.\nThe Rollux ecosystem was introduced with Pegasys DeFi exchange and AMM, Luxy NFT Platform, Pali Wallet (web & mobile), DAOSYS, and Camada, a noncustodial, regulatory-compliant crypto trading platform. Rollux expanded its suite of Web3 apps and services to include Chainge cross-chain aggregated DEX, Agave DeFi lending protocol, Gamma liquidity protocol, Nexter prediction market, GoRollux launchpad, Beefy yield aggregator, and LayerSwap, the first and only bridge that allows for direct and instant transfers from centralized exchanges to blockchains.\nCommenting on the plethora of Web3 tools added to the Rollux ecosystem, SYS Labs CEO Jagdeep Sidhu said: "Rollux Phase 2 is not merely an update; it\'s a quantum leap in the DeFi universe. With a suite of revolutionary features and a community-centric ethos,\nRollux is the epitome of innovation and inclusivity."\nAbout Rollux\nBuilt by SYS Labs, powered by Syscoin, and fueled by its utility token, $SYS. Rollux is an EVM-equivalent optimistic rollup that inherits the security of Bitcoin\'s mining network and Syscoin\'s Layer 1 finality and data availability. Rollux functions as Syscoin\'s Layer 2 to help provide the unprecedented scalability necessary for an exponential increase of potential use cases, and sets the stage for realizing mass adoption. Rollux offers what no one else does: unmitigated security, speed, decentralization, and affordability.\nWebsite|Syscoin\'s Website|Twitter|Discord\nAbout SYS Labs\nSYS Labs is the crucible where cutting-edge technology and financial revolution converge, building the fundamental layers of true Web3, and connecting users, dApps, and assets to create seamless flows between ecosystems. SYS Labs is a venture builder that creates the infrastructure, dApps, and tools necessary to meet the needs and desires of a global population, all backed by Bitcoin\'s security and enhanced by Syscoin\'s finality and groundbreaking L1 data availability solution, PoDA.\nWebsite|Medium|Twitter\nPress Contact:\nDylan StewartEmail:[email protected]\nSOURCE:SYS Labs\nView source version on accesswire.com:https://www.accesswire.com/794924/rollux-launches-next-phase-with-full-suite-of-defi-tools-backed-by-bitcoin', '(Updates with comment, details) LONDON, Oct 20 (Reuters) - Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies. Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day. There was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. Bitcoin is known for its volatility and the opacity of its markets. The mood across the broader financial markets has also been nervy lately. Investor sentiment has been rattled by war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5% and concern about the prospect of interest rates staying a lot higher for a lot longer. Bitcoin markets have been especially skittish this week, as investors await news of the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF) by major financial firms including BlackRock. The approval of any such applications, crypto investors have said, could usher in a new wave of capit
**Last 60 Days of Bitcoin's Closing Prices:**
[]
Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-20
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $571,471,426,400
- Hash Rate: 406536122.04655695
- Transaction Count: 295888.0
- Unique Addresses: 705226.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.53
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: A technical analysis indicator shows extreme oversold conditions in bitcoin as surgingbond yieldsweigh over risk assets, including cryptocurrencies.
Bitcoin's 14-day relative strength index (RSI) has dropped well below 30, indicating oversold conditions. The indicator has dropped to its lowest since the coronavirus-induced crash of March 2020.
The RSI is a momentum indicator ranging between 0 to 100 that shows the asset's recent price movement relative to its average price movement over a specific period, usually 14 days.
A reading below 30 reflects oversold conditions, implying that the price has dropped too quickly relative to its recent average. Meanwhile, a reading above 70 indicates overbought conditions.
One of the mistakes that thecrypto communityon X (formerly Twitter) and most rookie traders make is to consider oversold and overbought readings as advance hints of an impending bullish and bearish reversal.
But that's not the case. An oversold RSI reading means prices have dropped too quickly – that's it, while overbought reading indicates prices have rallied fast.
If anything, the latest below-30 or oversold reading on the RSI is a sign of strengthening bearish momentum. As the old saying goes, indicators can stay oversold longer than dip buyers can stay solvent.
According to Alex Kuptsikevich, senior market analyst at the FxPro, bitcoin's trend has shifted bearish.
"Bitcoin closed the [last] week with a notable drop below its 200-week and 200-day moving averages, signaling a shift to a bearish trend. From current levels near $26,000, the following area of decline appears to be the last pivot area at $24,700," Kuptsikevich said in an email.
Bitcoin changed hands at $26,000 at press time. Prices fell over 10% last week as the yield on the 10-year U.S. inflation-indexed security nearly rose to 2%, hitting the highest since 2009....
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['The US government owns over $5 billion worth of bitcoin, according to a recent analysis. Getty Images The US government has seized at least $5.5 billion worth of bitcoin since 2020, according to analysts. Its stake makes it one of the world\'s largest crypto "whales". Whether it holds or sells its bitcoin stash could have a huge impact on the token\'s price. The US government owns billions of dollars worth of bitcoin –\xa0and whether it decides to hold or sell could have a big impact on the cryptocurrency\'s price. Public filings show Washington has seized over 200,000 tokens from cybercriminals since 2020, according to crypto firm 21.co . Its holdings are worth $5.5 billion in total, analysts estimated – making the US one of the world\'s largest bitcoin "whales", a term that digital-asset enthusiasts use to refer to individuals or groups that own large amounts of the crypto. Tokens seized from the online black market Silk Road , its founder James Zhong , and criminals who hacked the Bitfinex exchange back in 2016 make up a large amount of the government\'s bitcoin stash, per 21.co\'s data. In the past, the government has tended to dump its stakes via auction after relevant legal proceedings have been completed, and then use the money to reimburse victims. For example, Washington sold 9,861 previously-seized bitcoins via Coinbase in March and gave $300,000 worth of compensation to Bitfinex in July, according to the Wall Street Journal . The government\'s sales could conceivably swing the price of the world\'s largest token by total market capitalization, with digital-asset trading volumes grinding to a halt over the past year. In 2022, crypto prices cratered as the Federal Reserve\'s aggressive interest-rate hikes and the collapse of high-profile companies like FTX weighed on investors\' enthusiasm for the sector. Bitcoin crashed below $20,000 and has barely recovered despite a rally for risk assets this year, with the token trading in a narrow range between $26,000 and $31,000 since mid-March. Story continues Lower volatility means that whales can drive big swings all by themselves –\xa0so what the government decides to do with its $5.5 billion stash could have a major impact on bitcoin\'s price. Read more: From Sam Bankman-Fried\'s arrest to bitcoin plunging below $20,000, here are the 9 craziest crypto stories of 2022 Read the original article on Business Insider', '• The US government has seized at least $5.5 billion worth of bitcoin since 2020, according to analysts.\n• Its stake makes it one of the world\'s largest crypto "whales".\n• Whether it holds or sells its bitcoin stash could have a huge impact on the token\'s price.\nThe US government owns billions of dollars worth ofbitcoin–\xa0and whether it decides to hold or sell could have a big impact on the cryptocurrency\'s price.\nPublic filings show Washington has seized over 200,000 tokens from cybercriminals since 2020, according to crypto firm21.co.\nIts holdings are worth $5.5 billion in total, analysts estimated – making the US one of the world\'s largest bitcoin "whales", a term that digital-asset enthusiasts use to refer to individuals or groups that own large amounts of the crypto.\nTokens seized from the online black marketSilk Road, its founderJames Zhong, and criminals whohacked the Bitfinex exchangeback in 2016 make up a large amount of the government\'s bitcoin stash, per 21.co\'s data.\nIn the past, the government has tended to dump its stakes via auction after relevant legal proceedings have been completed, and then use the money to reimburse victims.\nFor example, Washington sold 9,861 previously-seized bitcoins via Coinbase in March and gave $300,000 worth of compensation to Bitfinex in July, according to theWall Street Journal.\nThe government\'s sales could conceivably swing the price of the world\'s largest token by total market capitalization, with digital-asset trading volumes grinding to a halt over the past year.\nIn 2022, crypto prices cratered asthe Federal Reserve\'s aggressive interest-rate hikesandthe collapse of high-profile companies like FTXweighed on investors\' enthusiasm for the sector.\nBitcoin crashed below $20,000 and has barely recovered despite a rally for risk assets this year, with the token trading in a narrow range between $26,000 and $31,000 since mid-March.\nLower volatility means that whales can drive big swings all by themselves –\xa0so what the government decides to do with its $5.5 billion stash could have a major impact on bitcoin\'s price.\nRead more:From Sam Bankman-Fried\'s arrest to bitcoin plunging below $20,000, here are the 9 craziest crypto stories of 2022\nRead the original article onBusiness Insider', "New York --News Direct-- RoundHouse Media When Bitcoin (BTC) emerged, mining the cryptocurrency was on the rave. By solving simple math problems using a computer, many beginner cryptocurrency enthusiasts became millionaires without spending too much money. Of course, this was when Bitcoin started, and it was still relatively cheap. Now, Bitcoin is worth thousands of dollars, and mining costs just as much. TLDR If you missed Bitcoin mining, which has become costly and environmentally taxing, NuggetRush is a profitable alternative. NuggetRush presents a fresh opportunity for those who missed Bitcoin mining, combining gaming, NFTs, and crypto investments. Its token, NUGX, is available at a discount in its presale, with a 100% potential profit. If you're among the people who missed the opportunity more than a decade ago, another opportunity knocks. NuggetRush (NUGX) is a fast-rising cryptocurrency project that allows investors to mine and earn massively without owning an expensive computer rig or spending thousands of dollars. The platform plans to feature an interactive play-to-earn (P2E) meme game where players can explore mines for in-game assets, which can be exchanged for real value. Let's delve into the myriad of NuggetRush's mouth-watering benefits. NuggetRush (NUGX) Offers Affordable Mining And Enticing NFT Investing The novel P2E cryptocurrency platform utilizes its GameFi model to support gamers and artisanal miners in underdeveloped countries. NuggetRush creates a world where players are tasked with creating their avatars and recruiting the help of real-world mining experts or other skilled gamers to build in-game mining facilities where they can mine for gold and hunt for minerals. NuggetRush's in-game assets can be traded or sold for materials that represent tangible value in the real world, showcasing its potential to rank among the best crypto investment opportunities on the market. The platform also has enticing offerings for Web3 enthusiasts. While on the hunt, players can search for deposits and collect characters that are some of the best NFTs to invest in for maximum profits. NuggetRush's NFTs are highly valuable because miners who find NFTs from the rare RUSHGEMS collection can hold them until the value doubles or swap them for real gold. Holders can also stake their NFTs and receive residual income of up to 20% annual profit on the asset's value. All these lucrative features can be accessed using the native NUGX token, making it the best crypto investment to position for gains. NUGX is currently available for $0.01 in its fast-selling crypto ICO. This is a perfect price to get in on the event because, by the fifth stage, NUGX will be worth $0.020 per token, representing 100% of its initial value in just the early stages of the project. Story continues The crypto ICO has sold over 9.5 million tokens, highlighting rising interest in the project. By participating in the presale, gamers and beginner cryptocurrency traders will be better positioned to maximize the offerings of NuggetRush when it launches. >> Buy NuggetRush Now << Bitcoin (BTC) Mining Is Filled With Declining Prospects Bitcoin is the first cryptocurrency that was created. In the early stages of development, it revolutionized digital investing and the mining industry. Years ago, mining Bitcoin was straightforward, and people could mine using their computers. But as BTC grew popular, mining became difficult, requiring high-end equipment. The limited supply of BTC made mining even harder as time went on. Although the process is rewarding, it also requires a high investment in energy and takes a toll on the environment. The increased requirements to engage in Bitcoin mining have led individuals to look for alternative ways to break into the cryptocurrency ecosystem. Conclusion The growth of Bitcoin mining into a financially and environmentally taxing endeavor has resulted in interested individuals missing out on the opportunity and seeking promising alternatives. NUGX is one such alternative that offers solutions for those who missed the early days of Bitcoin mining. NuggetRush's features are set to revolutionize digital investments and cryptocurrency mining. The ongoing presale is also a rare opportunity to start making millions. Visit NuggetRush Presale Website Contact Details NuggetRush Team [email protected] View source version on newsdirect.com: https://newsdirect.com/news/missed-out-on-bitcoin-mining-mine-and-earn-with-nuggetrush-instead-833532116 View comments", "New York --News Direct-- RoundHouse Media When Bitcoin (BTC) emerged, mining the cryptocurrency was on the rave. By solving simple math problems using a computer, many beginner cryptocurrency enthusiasts became millionaires without spending too much money. Of course, this was when Bitcoin started, and it was still relatively cheap. Now, Bitcoin is worth thousands of dollars, and mining costs just as much. TLDR If you missed Bitcoin mining, which has become costly and environmentally taxing, NuggetRush is a profitable alternative. NuggetRush presents a fresh opportunity for those who missed Bitcoin mining, combining gaming, NFTs, and crypto investments. Its token, NUGX, is available at a discount in its presale, with a 100% potential profit. If you're among the people who missed the opportunity more than a decade ago, another opportunity knocks. NuggetRush (NUGX) is a fast-rising cryptocurrency project that allows investors to mine and earn massively without owning an expensive computer rig or spending thousands of dollars. The platform plans to feature an interactive play-to-earn (P2E) meme game where players can explore mines for in-game assets, which can be exchanged for real value. Let's delve into the myriad of NuggetRush's mouth-watering benefits. NuggetRush (NUGX) Offers Affordable Mining And Enticing NFT Investing The novel P2E cryptocurrency platform utilizes its GameFi model to support gamers and artisanal miners in underdeveloped countries. NuggetRush creates a world where players are tasked with creating their avatars and recruiting the help of real-world mining experts or other skilled gamers to build in-game mining facilities where they can mine for gold and hunt for minerals. NuggetRush's in-game assets can be traded or sold for materials that represent tangible value in the real world, showcasing its potential to rank among the best crypto investment opportunities on the market. The platform also has enticing offerings for Web3 enthusiasts. While on the hunt, players can search for deposits and collect characters that are some of the best NFTs to invest in for maximum profits. NuggetRush's NFTs are highly valuable because miners who find NFTs from the rare RUSHGEMS collection can hold them until the value doubles or swap them for real gold. Holders can also stake their NFTs and receive residual income of up to 20% annual profit on the asset's value. All these lucrative features can be accessed using the native NUGX token, making it the best crypto investment to position for gains. NUGX is currently available for $0.01 in its fast-selling crypto ICO. This is a perfect price to get in on the event because, by the fifth stage, NUGX will be worth $0.020 per token, representing 100% of its initial value in just the early stages of the project. Story continues The crypto ICO has sold over 9.5 million tokens, highlighting rising interest in the project. By participating in the presale, gamers and beginner cryptocurrency traders will be better positioned to maximize the offerings of NuggetRush when it launches. >> Buy NuggetRush Now << Bitcoin (BTC) Mining Is Filled With Declining Prospects Bitcoin is the first cryptocurrency that was created. In the early stages of development, it revolutionized digital investing and the mining industry. Years ago, mining Bitcoin was straightforward, and people could mine using their computers. But as BTC grew popular, mining became difficult, requiring high-end equipment. The limited supply of BTC made mining even harder as time went on. Although the process is rewarding, it also requires a high investment in energy and takes a toll on the environment. The increased requirements to engage in Bitcoin mining have led individuals to look for alternative ways to break into the cryptocurrency ecosystem. Conclusion The growth of Bitcoin mining into a financially and environmentally taxing endeavor has resulted in interested individuals missing out on the opportunity and seeking promising alternatives. NUGX is one such alternative that offers solutions for those who missed the early days of Bitcoin mining. NuggetRush's features are set to revolutionize digital investments and cryptocurrency mining. The ongoing presale is also a rare opportunity to start making millions. Visit NuggetRush Presale Website Contact Details NuggetRush Team [email protected] View source version on newsdirect.com: https://newsdirect.com/news/missed-out-on-bitcoin-mining-mine-and-earn-with-nuggetrush-instead-833532116 View comments", "New York --News Direct-- RoundHouse Media When Bitcoin (BTC) emerged, mining the cryptocurrency was on the rave. By solving simple math problems using a computer, many beginner cryptocurrency enthusiasts became millionaires without spending too much money. Of course, this was when Bitcoin started, and it was still relatively cheap. Now, Bitcoin is worth thousands of dollars, and mining costs just as much. TLDR If you missed Bitcoin mining, which has become costly and environmentally taxing, NuggetRush is a profitable alternative. NuggetRush presents a fresh opportunity for those who missed Bitcoin mining, combining gaming, NFTs, and crypto investments. Its token, NUGX, is available at a discount in its presale, with a 100% potential profit. If you're among the people who missed the opportunity more than a decade ago, another opportunity knocks. NuggetRush (NUGX) is a fast-rising cryptocurrency project that allows investors to mine and earn massively without owning an expensive computer rig or spending thousands of dollars. The platform plans to feature an interactive play-to-earn (P2E) meme game where players can explore mines for in-game assets, which can be exchanged for real value. Let's delve into the myriad of NuggetRush's mouth-watering benefits. NuggetRush (NUGX) Offers Affordable Mining And Enticing NFT Investing The novel P2E cryptocurrency platform utilizes its GameFi model to support gamers and artisanal miners in underdeveloped countries. NuggetRush creates a world where players are tasked with creating their avatars and recruiting the help of real-world mining experts or other skilled gamers to build in-game mining facilities where they can mine for gold and hunt for minerals. NuggetRush's in-game assets can be traded or sold for materials that represent tangible value in the real world, showcasing its potential to rank among the best crypto investment opportunities on the market. The platform also has enticing offerings for Web3 enthusiasts. While on the hunt, players can search for deposits and collect characters that are some of the best NFTs to invest in for maximum profits. NuggetRush's NFTs are highly valuable because miners who find NFTs from the rare RUSHGEMS collection can hold them until the value doubles or swap them for real gold. Holders can also stake their NFTs and receive residual income of up to 20% annual profit on the asset's value. All these lucrative features can be accessed using the native NUGX token, making it the best crypto investment to position for gains. NUGX is currently available for $0.01 in its fast-selling crypto ICO. This is a perfect price to get in on the event because, by the fifth stage, NUGX will be worth $0.020 per token, representing 100% of its initial value in just the early stages of the project. Story continues The crypto ICO has sold over 9.5 million tokens, highlighting rising interest in the project. By participating in the presale, gamers and beginner cryptocurrency traders will be better positioned to maximize the offerings of NuggetRush when it launches. >> Buy NuggetRush Now << Bitcoin (BTC) Mining Is Filled With Declining Prospects Bitcoin is the first cryptocurrency that was created. In the early stages of development, it revolutionized digital investing and the mining industry. Years ago, mining Bitcoin was straightforward, and people could mine using their computers. But as BTC grew popular, mining became difficult, requiring high-end equipment. The limited supply of BTC made mining even harder as time went on. Although the process is rewarding, it also requires a high investment in energy and takes a toll on the environment. The increased requirements to engage in Bitcoin mining have led individuals to look for alternative ways to break into the cryptocurrency ecosystem. Conclusion The growth of Bitcoin mining into a financially and environmentally taxing endeavor has resulted in interested individuals missing out on the opportunity and seeking promising alternatives. NUGX is one such alternative that offers solutions for those who missed the early days of Bitcoin mining. NuggetRush's features are set to revolutionize digital investments and cryptocurrency mining. The ongoing presale is also a rare opportunity to start making millions. Visit NuggetRush Presale Website Contact Details NuggetRush Team [email protected] View source version on newsdirect.com: https://newsdirect.com/news/missed-out-on-bitcoin-mining-mine-and-earn-with-nuggetrush-instead-833532116 View comments", 'These are the top 10 most read stories on The Defiant during the week of Oct. 16: There is No Mention of Crypto in Marc Andreessen\'s Techno-Optimist Essay Marc Andreessen\'s " The Techno-Optimist Manifesto " doesn\'t mention crypto or any directly-related term. Not even once. Uniswap To Charge 0.15% Swap Fee On Website and Wallet Uniswap, the largest decentralized exchange by trade volume, announced it will start charging a swap fee for a select group of tokens on its web app and wallet. Fantom Foundation Wallets Hacked and Drained in Exploit The Fantom Foundation, the organization behind the Fantom blockchain, has been hit by a malicious attack to a number of its crypto wallets. Consensys Founder Joe Lubin is Being Sued by Ex Employees in Equity Dispute Early Consensys employees are alleging that Ethereum co-founder Joseph Lubin cheated them out of equity in the Brooklyn-based company. The Defiant\'s Ultimate Friendtech Guide Tips and Resources To Maximize Your Potential Airdrop and Pitfalls To Avoid Cointelegraph Publishes Post-Mortem After Inaccurate Tweet Sends BTC Flying Prospective Bitcoin spot ETFs are again dominating the headlines, with a tweet from Cointelegraph falsely claiming U.S. regulators had approved BlackRock\'s proposed ETF triggering violent volatility in the markets. Reddit Mods Accused of Selling Subreddit Tokens With Inside Information Three moderators of the r/CryptoCurrency subreddit are being accused of using their advance knowledge of Reddit’s decision to sunset crypto-based Community Points to sell their own tokens ahead of the community. Circle Brings Gasless Transactions To Grab Wallet Users Grab, the Southeast Asian ‘superapp’ servicing 180M users, is teaming up with Circle, the company behind the USDC stablecoin, to offer fee-free NFT experiences for Singaporean users. Scroll Suffers From Weak Adoption One Week After Mainnet Launch Scroll, the long-awaited Ethereum Layer 2, is suffering from poor adoption roughly one week after discretely executing its mainnet launch. EtherFi\'s Liquid Staking Token Live On Goerli Ahead Of Mainnet Launch eETH, the highly-anticipated liquid staking token from EtherFi, is now live on Ethereum’s Goerli testnet ahead of its Nov. 6 mainnet launch. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io View comments', 'These are the top 10 most read stories on The Defiant during the week of Oct. 16:\n1. There is No Mention of Crypto in Marc Andreessen\'s Techno-Optimist EssayMarc Andreessen\'s "The Techno-Optimist Manifesto" doesn\'t mention crypto or any directly-related term. Not even once.\n2. Uniswap To Charge 0.15% Swap Fee On Website and WalletUniswap, the largest decentralized exchange by trade volume, announced it will start charging a swap fee for a select group of tokens on its web app and wallet.\n3. Fantom Foundation Wallets Hacked and Drained in ExploitThe Fantom Foundation, the organization behind the Fantom blockchain, has been hit by a malicious attack to a number of its crypto wallets.\n4. Consensys Founder Joe Lubin is Being Sued by Ex Employees in Equity DisputeEarly Consensys employees are alleging that Ethereum co-founder Joseph Lubin cheated them out of equity in the Brooklyn-based company.\n5. The Defiant\'s Ultimate Friendtech GuideTips and Resources To Maximize Your Potential Airdrop and Pitfalls To Avoid\n6. Cointelegraph Publishes Post-Mortem After Inaccurate Tweet Sends BTC FlyingProspective Bitcoin spot ETFs are again dominating the headlines, with a tweet from Cointelegraph falsely claiming U.S. regulators had approved BlackRock\'s proposed ETF triggering violent volatility in the markets.\n7. Reddit Mods Accused of Selling Subreddit Tokens With Inside InformationThree moderators of the r/CryptoCurrency subreddit are being accused of using their advance knowledge of Reddit’s decision tosunsetcrypto-based Community Points to sell their own tokens ahead of the community.\n8. Circle Brings Gasless Transactions To Grab Wallet UsersGrab, the Southeast Asian ‘superapp’ servicing 180M users, is teaming up with Circle, the company behind the USDC stablecoin, to offer fee-free NFT experiences for Singaporean users.\n9. Scroll Suffers From Weak Adoption One Week After Mainnet LaunchScroll, the long-awaited Ethereum Layer 2, is suffering from poor adoption roughly one week after discretely executing its mainnet launch.\n10. EtherFi\'s Liquid Staking Token Live On Goerli Ahead Of Mainnet LauncheETH, the highly-anticipated liquid staking token from EtherFi, is now live on Ethereum’s Goerli testnet ahead of its Nov. 6 mainnet launch.\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io']...
**Last 60 Days of Bitcoin's Closing Prices:**
[]
Use the additional daily data provided in the input below for crucial context.
|
Daily Context for Date: 2023-10-21
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $575,573,892,319
- Hash Rate: 455077748.5595787
- Transaction Count: 270621.0
- Unique Addresses: 640544.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.63
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Franklin Templeton entered the spot bitcoin ETF race on Tuesday, the most recent of the traditional Wall Street investment firms that are looking to sell digital asset products alongside more upstart companies. According to a filing with the Securities and Exchange Commission, the Franklin Bitcoin ETF would be listed on the CBOE BZX Exchange. Crypto trading platform Coinbase would be the custodian. The proposed fund doesn’t have a ticker symbol yet. Franklin Templeton has $13.1 billion in assets under management across 60 exchange-traded funds. The firm’s filing comes as more traditional financial firms move into cryptocurrency ETFs. Investment giants BlackRock Inc. and Fidelity Investment Co. have both filed for spot bitcoin ETFs, and many experts speculate that the SEC could give those firms priority if it approves the investment vehicles. While the SEC allows funds that track bitcoin futures contracts, such as the ProShares Bitcoin Strategy ETF (BITO) , the agency has blocked and delayed proposals for ETFs that track physically backed bitcoin. The SEC has rejected more than 30 proposals for a spot bitcoin ETF since 2021, including those from Fidelity and VanEck and has blocked such funds since 2017 on the grounds that they are vulnerable to fraud and market manipulation. On Aug. 29, however, cryptocurrency investment firm Grayscale Investments prevailed in a watershed legal victory over the SEC, when the U.S. Court of Appeals D.C. Circuit ruled that the SEC must reconsider Grayscale’s application to convert its Grayscale Bitcoin Trust into an ETF. The SEC had previously rejected Grayscale’s application. The ruling could mean that the SEC will eventually approve spot bitcoin ETFs. SEC Chairman Gensler: ‘Crypto Rife With Fraud’ As the SEC faces mounting pressure to approve more cryptocurrency ETFs, Chairman Gary Gensler hasn’t backed down from his position that digital assets are an unsafe investment. At a Senate Banking Committee oversight hearing on Tuesday, Gensler said that cryptocurrency has “significant noncompliance” problems and that the asset class as a whole is “rife with fraud, abuse and misconduct.” Story continues The SEC has 45 days to appeal the court’s ruling in Grayscale’s lawsuit, either in the D.C. Circuit or the Supreme Court. The agency could go as far as to roll back its approval of bitcoin futures ETFs if it doubles down on an anti-cryptocurrency stance. The fund would be Franklin Templeton’s first jump into digital asset ETFs. Its largest ETF is the Franklin U.S. Core Bond ETF (FLCB) with $1.6 billion in assets. Permalink | © Copyright 2023 etf.com. All rights reserved...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['A bitcoin logo is displayed on an ATM in Hong Kong in 2017. (Kin Cheung / Associated Press) Jim Meduri answered a terrifying phone call in January from a man pretending to be his son. The caller, who sounded on the verge of tears, said he\x92d been in a car accident. Meduri was convinced his son had been arrested for driving under the influence and injuring a pregnant woman and her daughter. The San Jose resident later spoke to people impersonating a defense attorney and a courthouse clerk, who told him his son might be sent from the Bay Area to Nevada because of an mpox outbreak at the jail. Panicked and in a rush, Meduri agreed to send bail money through cryptocurrency. The fake lawyer directed Meduri, 65, to an ATM where people can buy the digital currency bitcoin. He inserted $15,000 in cash into the machine, scanned a code provided by the scammers and transferred the money. When Meduri realized he\x92d been duped, his money was gone. \x93They played on fear and what a parent would do to help their kid, and it was elaborate,\x94 said Meduri, who was able to get most of his money back with help from the Santa Clara County district attorney\x92s office. Meduri\'s misfortune is just one example of how scammers are using bitcoin ATMs to swindle victims out of thousands of dollars, fraud that law enforcement officials warn is on the rise. The machines, in convenience stores, gas stations and even bakeries, are an easy way for people to buy cryptocurrency quickly with cash, which is harder to track than a wire transfer or check. As scammers exploit the convenience these machines provide, bitcoin ATMs are also attracting the attention of lawmakers, regulators and consumer advocacy groups looking to protect people from fraud and exorbitant fees. Starting in January, California will limit cryptocurrency ATM transactions to $1,000 per day per person under Senate Bill 401, which Gov. Gavin Newsom signed into law. Some bitcoin ATM machines advertise limits as high as $50,000. The new law also bars bitcoin ATM operators from collecting fees higher than $5 or 15% of the transaction, whichever is greater, starting in 2025. Legislative staff members visited a crypto kiosk in Sacramento and found markups as high as 33% on some digital assets when they compared the prices at which cryptocurrency is bought and sold. Typically, a crypto ATM charges fees between 12% and 25% over the value of the digital asset, according to a legislative analysis. Story continues \x93This bill is about ensuring that people who have been frauded in our communities don\'t continue to watch our state step aside when we know that these are real problems that are happening,\x94 said state Sen. Monique Limón (D-Goleta), who co-authored the bill. Although similar scams have existed long before the rising popularity of cryptocurrency, the use of these digital assets by fraudsters has been increasing, according to the Federal Trade Commission. Since 2021, more than 46,000 people reported losing over $1 billion in crypto to scams, the agency reported in 2022. Victims of bitcoin ATM scams say limiting the transactions will give people more time to figure out they\x92re being tricked and prevent them from using large amounts of cash to buy cryptocurrency. But crypto ATM operators say the new laws will harm their industry and the small businesses they pay to rent space for the machines. There are more than 3,200 bitcoin ATMs in California, according to Coin ATM Radar , a site that tracks the machines\' locations. \x93This bill fails to adequately address how to crack down on fraud, and instead takes a punitive path focused on a specific technology that will shudder the industry and hurt consumers, while doing nothing to stop bad actors,\x94 said Charles Belle, executive director of the Blockchain Advocacy Coalition. While California lawmakers have striven to balance the need to support the cryptocurrency industry and protect consumers, recent legislation has hewed toward tighter state regulation. Another law would by July 2025 require digital financial asset businesses to obtain a license from the California Department of Financial Protection and Innovation. Read more: Gavin Newsom\'s awkward crypto timing When signing the legislation, Assembly Bill 39 , Newsom included a message that said the law needed further refinement to provide clarity to consumers, businesses and state regulators. \x93It is essential that we strike the appropriate balance between protecting consumers from harm and fostering a responsible innovation environment,\x94 he wrote. In 2022, months before the collapse of cryptocurrency exchange FTX, Newsom vetoed a similar bill that would have required cryptocurrency companies to get a state license, citing concerns a new regulatory program would be costly and the actions were premature. Erin West, a Santa Clara County deputy district attorney who helped Meduri recover his money, said scammers turn to bitcoin ATM machines because they accept large amounts of cash. The value of bitcoin can also rise, giving fraudsters a way to increase their plunder. Scammers use different tactics to trick people into handing over their money, including creating a false sense of urgency and winning over their trust. Some befriend or seduce their victims through social media or dating apps, luring them into a web of lies that include fake emergencies. Other times, the scam starts with a text message directing victims to a fake cryptocurrency investment site. West said her team has been able to recover $2.5 million for scam victims like Meduri by tracking down the cryptocurrency exchange that was involved in the transaction. After Meduri put $15,000 into a kiosk operated by Bitcoin ATM Services, the digital money ended up in the cryptocurrency exchange Binance. The exchange complied with a search warrant, allowing her team to retrieve the stolen funds from Binance and return them to Meduri. Although it\x92s possible for cryptocurrency victims to get their money back even if it travels overseas, West said it\x92s rare. Some cryptocurrency exchanges are more cooperative with law enforcement than others, she said. \x93This whole thing is a speed game,\x94 said West, who is part of a task force called REACT \x97 Regional Enforcement Allied Computer Team \x97 that combats high-tech crimes. \x93Can we get the victim in front of a competent investigator who knows how to find things on the blockchain in the least amount of time?\x94 Blockchain is a type of shared digital database that stores information about crypto transactions. Read more: Before investing in crypto, check out California\'s new scam tracker An 80-year-old retired teacher in Los Angeles, whom The Times previously interviewed, said she hasn\x92t been able to recover $69,000 she sent to scammers through a bitcoin ATM over multiple days in May. The stolen funds ended up in Seychelles-based cryptocurrency exchanges KuCoin and Huobi. The scam started when Mrs. K, who wants to remain anonymous because she\x92s more wary about giving out her personal information, got a loud pop-up alert that her computer was infected with a virus. After calling a fake tech support number and later talking to a person impersonating the FBI, Mrs. K thought her Chase bank account had been taken over by foreign Chinese hackers involved in a child pornography case. To keep up the elaborate ruse, the scammers also sent Mrs. K fake Chase bank emails. \x93If it wasn\'t this convoluted mishmash, I probably would have been a little smarter and not fallen into this trap,\x94 Mrs. K said. \x93I feel so disappointed in myself that I just fell hook, line and sinker.\x94 Mrs. K said the FBI impersonator told her to withdraw $75,000 in cash over three days from her Chase checking account and not tell anyone. If workers at the bank asked, the scammer told Mrs. K to say that she was withdrawing cash for construction. The FBI impersonator convinced Mrs. K she could help law enforcement catch the child predators if she converted the cash to cryptocurrency and transferred the funds to a digital wallet the agency would monitor. The intricate lie eventually led Mrs. K to a Coinhub Bitcoin ATM machine at a doughnut shop in Highland Park that accepts up to $25,000 in cash daily per person. By the time she realized it was a scam, Mrs. K had sent $69,000 to the fraudsters. She reported the crime to police but hasn\x92t been able to recover her money. Under federal law, bitcoin ATM operators are typically considered money services businesses, so they\x92re required to register with the U.S. Department of Treasury\x92s Financial Crimes Enforcement Network, or FinCEN. The agency collects and analyzes financial information to combat money laundering and other illegal uses. The businesses must also maintain an anti-money-laundering program and report suspicious activity to the agency. Logan Short, the chief executive of LSGT Services, which does business as Coinhub Bitcoin ATM, said in an email the company does "everything in its power to protect consumers, but unfortunately fraud is not 100% preventable in any industry.\x94 The Las Vegas company is registered with FinCEN but faced allegations that it operated crypto ATM machines in Connecticut without the required state license. Bitcoin ATM Services, which operates the kiosk used by Meduri, says on its website that it is registered with FinCEN. The Times couldn\x92t find a record of Bitcoin ATM Services being registered as a money services business with FinCEN. A company called Cash ATM Services that has the same mailing address as Bitcoin ATM Services was registered. Bitcoin ATM Services did not respond to a request for comment. Law enforcement has cracked down on unlicensed crypto ATMs, but it can be tough for consumers to tell how serious the industry is about addressing the concerns. In 2020, a Yorba Linda man pleaded guilty to charges of operating unlicensed bitcoin ATMs and failing to maintain an anti-money-laundering program even though he knew criminals were using the funds. The illegal business, known as Herocoin, allowed people to buy and sell bitcoin in transactions of up to $25,000 and charged a fee of up to 25%. Cryptocurrency regulations vary by state. California has long exempted crypto ATMs from licensing requirements for businesses engaged in money transmission. Read more: Investment scams are everywhere on social media. Here\x92s how to spot one Crypto ATM machines serve people who don\x92t have a bank account or just want the convenience of buying cryptocurrency at a gas station, convenience store or other shop, said Ayman Rida, CEO of Cash2Bitcoin, who works with cryptocurrency ATM operators including in California on complying with state regulations. The fees ATM charge are higher than online exchanges, he said, to cover certain expenses. That includes the cost of leased space, machine maintenance and cash management. Crypto ATM operators aren\x92t opposed to having clearer rules and guidelines, he said, but they are against capping fees and transactions. Crypto ATM operators typically require more forms of identification if a customer makes a transaction of more than $1,000, and in some cases flag high-value transactions, which could help stop scammers. \x93Scammers are getting smarter,\x94 he said. \x93My question for the regulators is, why are you killing an industry when scams also happen to other industries but they\'re not doing anything about it as well?\x94 As for Meduri, he\x92s just relieved his son wasn\x92t really arrested and in a car accident. Oddly enough, finding out it was all an elaborate lie came with a sense of relief. \x93My wife and I were just wrecked that day,\x94 he said. \x93I didn\'t even care. I was happy he was OK." Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times .', 'A bitcoin logo is displayed on an ATM in Hong Kong in 2017. (Kin Cheung / Associated Press) Jim Meduri answered a terrifying phone call in January from a man pretending to be his son. The caller, who sounded on the verge of tears, said he\x92d been in a car accident. Meduri was convinced his son had been arrested for driving under the influence and injuring a pregnant woman and her daughter. The San Jose resident later spoke to people impersonating a defense attorney and a courthouse clerk, who told him his son might be sent from the Bay Area to Nevada because of an mpox outbreak at the jail. Panicked and in a rush, Meduri agreed to send bail money through cryptocurrency. The fake lawyer directed Meduri, 65, to an ATM where people can buy the digital currency bitcoin. He inserted $15,000 in cash into the machine, scanned a code provided by the scammers and transferred the money. When Meduri realized he\x92d been duped, his money was gone. \x93They played on fear and what a parent would do to help their kid, and it was elaborate,\x94 said Meduri, who was able to get most of his money back with help from the Santa Clara County district attorney\x92s office. Meduri\'s misfortune is just one example of how scammers are using bitcoin ATMs to swindle victims out of thousands of dollars, fraud that law enforcement officials warn is on the rise. The machines, in convenience stores, gas stations and even bakeries, are an easy way for people to buy cryptocurrency quickly with cash, which is harder to track than a wire transfer or check. As scammers exploit the convenience these machines provide, bitcoin ATMs are also attracting the attention of lawmakers, regulators and consumer advocacy groups looking to protect people from fraud and exorbitant fees. Starting in January, California will limit cryptocurrency ATM transactions to $1,000 per day per person under Senate Bill 401, which Gov. Gavin Newsom signed into law. Some bitcoin ATM machines advertise limits as high as $50,000. The new law also bars bitcoin ATM operators from collecting fees higher than $5 or 15% of the transaction, whichever is greater, starting in 2025. Legislative staff members visited a crypto kiosk in Sacramento and found markups as high as 33% on some digital assets when they compared the prices at which cryptocurrency is bought and sold. Typically, a crypto ATM charges fees between 12% and 25% over the value of the digital asset, according to a legislative analysis. Story continues \x93This bill is about ensuring that people who have been frauded in our communities don\'t continue to watch our state step aside when we know that these are real problems that are happening,\x94 said state Sen. Monique Limón (D-Goleta), who co-authored the bill. Although similar scams have existed long before the rising popularity of cryptocurrency, the use of these digital assets by fraudsters has been increasing, according to the Federal Trade Commission. Since 2021, more than 46,000 people reported losing over $1 billion in crypto to scams, the agency reported in 2022. Victims of bitcoin ATM scams say limiting the transactions will give people more time to figure out they\x92re being tricked and prevent them from using large amounts of cash to buy cryptocurrency. But crypto ATM operators say the new laws will harm their industry and the small businesses they pay to rent space for the machines. There are more than 3,200 bitcoin ATMs in California, according to Coin ATM Radar , a site that tracks the machines\' locations. \x93This bill fails to adequately address how to crack down on fraud, and instead takes a punitive path focused on a specific technology that will shudder the industry and hurt consumers, while doing nothing to stop bad actors,\x94 said Charles Belle, executive director of the Blockchain Advocacy Coalition. While California lawmakers have striven to balance the need to support the cryptocurrency industry and protect consumers, recent legislation has hewed toward tighter state regulation. Another law would by July 2025 require digital financial asset businesses to obtain a license from the California Department of Financial Protection and Innovation. Read more: Gavin Newsom\'s awkward crypto timing When signing the legislation, Assembly Bill 39 , Newsom included a message that said the law needed further refinement to provide clarity to consumers, businesses and state regulators. \x93It is essential that we strike the appropriate balance between protecting consumers from harm and fostering a responsible innovation environment,\x94 he wrote. In 2022, months before the collapse of cryptocurrency exchange FTX, Newsom vetoed a similar bill that would have required cryptocurrency companies to get a state license, citing concerns a new regulatory program would be costly and the actions were premature. Erin West, a Santa Clara County deputy district attorney who helped Meduri recover his money, said scammers turn to bitcoin ATM machines because they accept large amounts of cash. The value of bitcoin can also rise, giving fraudsters a way to increase their plunder. Scammers use different tactics to trick people into handing over their money, including creating a false sense of urgency and winning over their trust. Some befriend or seduce their victims through social media or dating apps, luring them into a web of lies that include fake emergencies. Other times, the scam starts with a text message directing victims to a fake cryptocurrency investment site. West said her team has been able to recover $2.5 million for scam victims like Meduri by tracking down the cryptocurrency exchange that was involved in the transaction. After Meduri put $15,000 into a kiosk operated by Bitcoin ATM Services, the digital money ended up in the cryptocurrency exchange Binance. The exchange complied with a search warrant, allowing her team to retrieve the stolen funds from Binance and return them to Meduri. Although it\x92s possible for cryptocurrency victims to get their money back even if it travels overseas, West said it\x92s rare. Some cryptocurrency exchanges are more cooperative with law enforcement than others, she said. \x93This whole thing is a speed game,\x94 said West, who is part of a task force called REACT \x97 Regional Enforcement Allied Computer Team \x97 that combats high-tech crimes. \x93Can we get the victim in front of a competent investigator who knows how to find things on the blockchain in the least amount of time?\x94 Blockchain is a type of shared digital database that stores information about crypto transactions. Read more: Before investing in crypto, check out California\'s new scam tracker An 80-year-old retired teacher in Los Angeles, whom The Times previously interviewed, said she hasn\x92t been able to recover $69,000 she sent to scammers through a bitcoin ATM over multiple days in May. The stolen funds ended up in Seychelles-based cryptocurrency exchanges KuCoin and Huobi. The scam started when Mrs. K, who wants to remain anonymous because she\x92s more wary about giving out her personal information, got a loud pop-up alert that her computer was infected with a virus. After calling a fake tech support number and later talking to a person impersonating the FBI, Mrs. K thought her Chase bank account had been taken over by foreign Chinese hackers involved in a child pornography case. To keep up the elaborate ruse, the scammers also sent Mrs. K fake Chase bank emails. \x93If it wasn\'t this convoluted mishmash, I probably would have been a little smarter and not fallen into this trap,\x94 Mrs. K said. \x93I feel so disappointed in myself that I just fell hook, line and sinker.\x94 Mrs. K said the FBI impersonator told her to withdraw $75,000 in cash over three days from her Chase checking account and not tell anyone. If workers at the bank asked, the scammer told Mrs. K to say that she was withdrawing cash for construction. The FBI impersonator convinced Mrs. K she could help law enforcement catch the child predators if she converted the cash to cryptocurrency and transferred the funds to a digital wallet the agency would monitor. The intricate lie eventually led Mrs. K to a Coinhub Bitcoin ATM machine at a doughnut shop in Highland Park that accepts up to $25,000 in cash daily per person. By the time she realized it was a scam, Mrs. K had sent $69,000 to the fraudsters. She reported the crime to police but hasn\x92t been able to recover her money. Under federal law, bitcoin ATM operators are typically considered money services businesses, so they\x92re required to register with the U.S. Department of Treasury\x92s Financial Crimes Enforcement Network, or FinCEN. The agency collects and analyzes financial information to combat money laundering and other illegal uses. The businesses must also maintain an anti-money-laundering program and report suspicious activity to the agency. Logan Short, the chief executive of LSGT Services, which does business as Coinhub Bitcoin ATM, said in an email the company does "everything in its power to protect consumers, but unfortunately fraud is not 100% preventable in any industry.\x94 The Las Vegas company is registered with FinCEN but faced allegations that it operated crypto ATM machines in Connecticut without the required state license. Bitcoin ATM Services, which operates the kiosk used by Meduri, says on its website that it is registered with FinCEN. The Times couldn\x92t find a record of Bitcoin ATM Services being registered as a money services business with FinCEN. A company called Cash ATM Services that has the same mailing address as Bitcoin ATM Services was registered. Bitcoin ATM Services did not respond to a request for comment. Law enforcement has cracked down on unlicensed crypto ATMs, but it can be tough for consumers to tell how serious the industry is about addressing the concerns. In 2020, a Yorba Linda man pleaded guilty to charges of operating unlicensed bitcoin ATMs and failing to maintain an anti-money-laundering program even though he knew criminals were using the funds. The illegal business, known as Herocoin, allowed people to buy and sell bitcoin in transactions of up to $25,000 and charged a fee of up to 25%. Cryptocurrency regulations vary by state. California has long exempted crypto ATMs from licensing requirements for businesses engaged in money transmission. Read more: Investment scams are everywhere on social media. Here\x92s how to spot one Crypto ATM machines serve people who don\x92t have a bank account or just want the convenience of buying cryptocurrency at a gas station, convenience store or other shop, said Ayman Rida, CEO of Cash2Bitcoin, who works with cryptocurrency ATM operators including in California on complying with state regulations. The fees ATM charge are higher than online exchanges, he said, to cover certain expenses. That includes the cost of leased space, machine maintenance and cash management. Crypto ATM operators aren\x92t opposed to having clearer rules and guidelines, he said, but they are against capping fees and transactions. Crypto ATM operators typically require more forms of identification if a customer makes a transaction of more than $1,000, and in some cases flag high-value transactions, which could help stop scammers. \x93Scammers are getting smarter,\x94 he said. \x93My question for the regulators is, why are you killing an industry when scams also happen to other industries but they\'re not doing anything about it as well?\x94 As for Meduri, he\x92s just relieved his son wasn\x92t really arrested and in a car accident. Oddly enough, finding out it was all an elaborate lie came with a sense of relief. \x93My wife and I were just wrecked that day,\x94 he said. \x93I didn\'t even care. I was happy he was OK." Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times .', 'Navigating the ever-evolving investment landscape can be a daunting task, especially with buzzwords like “Web3 stocks” making headlines. These stocks represent the next frontier in the digital realm, leveraging the power of decentralized platforms to reshape industries and consumer experiences. In this new era, opportunities abound, but so do risks. On one hand, there’s undeniable excitement surrounding the potential of these Web3-enabled companies. On the other, investors must be discerning and informed. While the allure of Web3 stocks is undeniable, their disruptive nature also suggests an unpredictable trajectory. Harnessing technologies like blockchain, these companies are forging new pathways and challenging traditional business models. Their rapid ascent signifies a tectonic shift in how value is created and exchanged in the digital sphere. For many, this spells immense profit potential. Yet, this novelty also means uncharted waters. The volatility and novelty associated with such ventures necessitate a measured approach. Both the optimism and caution they elicit are a testament to their transformative potential. As we journey through this novel terrain, it’s vital to couple enthusiasm with diligence. Embracing innovation while adhering to time-tested investment wisdom ensures a holistic strategy. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With a positive connotation surrounding their growth prospects and a hint of caution due to their novelty, Web3 stocks beckon both seasoned and newbie investors alike. So, as we delve deeper into this intriguing domain, let’s remember the importance of balance. After all, the future might be decentralized, but the principles of smart investing remain universal. Unity Software (U) The Unity Software website is displayed on a laptop screen. U stock Source: Konstantin Savusia / Shutterstock.com Unity Software’s (NYSE: U ) position in the tech ecosystem remains robust, despite a turbulent month where it witnessed a 17% decline in its stock value. The backbone of groundbreaking products like Apple’s VisionPro and Meta Quest, Unity is undeniably carving a space for itself within the Web3 stocks realm. Moreover, its recent quarterly report boasts an impressive 80% year-on-year (YOY) surge in revenue to $533.5 million. However, a concerning aspect remains its net profit margin, which sits at -36%, showing a 48% YOY change. Story continues Notably, Unity’s recent headlines have been a whirlwind. From the announcement of its CEO’s retirement that stirred analysts’ reactions to a potential bid by AppLovin, the pace doesn’t seem to be slowing down for the company. Yet, amidst this chaos, it’s essential to focus on Unity’s core strengths. After all, Morgan Stanley lists Alphabet’s (NASDAQ: GOOG , NASDAQ: GOOGL ) Google \xa0and Amazon (NASDAQ: AMZN ) among the 13 potential AI catalysts for 2023, and Unity, given its prowess in AI, is not far behind. The software giant, often discussed among Web3 stocks, has had recent financial ups and downs. This includes a BofA upgrade and Wall Street’s uncertainty on its new pricing. These events underscore its dynamic nature in the Web3 stocks landscape. However, Unity’s move into emerging tech spheres, especially in Web3, is notable. They have significant stakes in the Web3 domain, positioning them prominently among Web3 stocks. Coupled with substantial investments, these could be catalysts for growth. As the fourth quarter unfolds, Unity Software’s story in the realm of Web3 stocks may change. It could be about resilience, innovation, and leadership in the tech world. Coinbase Global (COIN) The Coinbase (COIN stock) logo on a smartphone screen with a BTC token. Crypto winter is setting in. Source: Primakov / Shutterstock.com In a whirlwind of recent events, Coinbase Global (NASDAQ: COIN ) has ridden a tumultuous wave to the financial spotlight. A dazzling 21% stock return over the past half-year underscores its performance, but the latest earnings report paints a more kaleidoscopic picture. Q2 2023 saw a shimmering revenue of $662.5 million, a rise of 17.5% from the previous year. Yet, with a net loss plunging to $97.4 million and an operating income that’s $94.6 million in the shadows, questions loom about its fiscal vitality. Coinbase has been in the spotlight for multiple reasons. On one hand, whispers of institutional money potentially pouring into the platform suggest a bright future. Additionally, the company’s shift towards becoming a comprehensive financial powerhouse positions it at the forefront of the Web3 stock wave. Yet, there have been bearish sentiments, too. Reports suggest a challenging landscape for Coinbase , given the unpredictability of the crypto market . Moreover, recent regulatory news, such as its Singapore license wins and notable stock movements, including a 5% surge, make it a company to watch closely. Furthermore, its adaptation to the new L2 Network, coupled with positive seasonality trends, could set the stage for a brighter trajectory. But as with all investments, thorough due diligence remains paramount. TE Connectivity (TEL) The logo for TE Connectivity (TEL) is seen on a sign. Source: Michael Vi / Shutterstock.com In the vibrant landscape of Web3 financials, TE Connectivity (NYSE: TEL ) takes the spotlight with its admirable tenacity. Over the recent two quarters, the company experienced a modest downturn, recording a 6.5% decline. Yet, the latest financial results tell a tale of resilience and resurgence. For June 2023, TE Connectivity’s earnings per share didn’t merely meet expectations – they surpassed them notably by 6.3%, registering at a solid $1.77 against the predicted $1.67. However, every story has its twists. When it came to revenue, the firm slightly missed its target, securing $4.00 billion against the anticipated $4.05 billion, marking a minor discrepancy of 1.3%. Despite these minor hiccups, TE Connectivity continues to cement its position in the market. Analysts are observing the company’s trajectory, especially amid talks of an electrification boom , hinting at potential long-term growth. It’s also worth noting the firm’s undeterred commitment to enhancing shareholder value, evidenced by its consistent dividend payouts and strategic stock buybacks. Several industry insiders, including those from Credit Suisse, have spotlighted the company for its prospective rise in electric vehicle production. Looking at its broader performance, TE Connectivity has demonstrated a robust capacity to generate free cash flow, proving that external challenges, such as the pandemic, hardly impact its financial muscle. As the tech sector continues to vie for supremacy, TE Connectivity undoubtedly remains a promising contender to watch. On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Web3 Stocks to Get Rich Off the Next-Gen Internet appeared first on InvestorPlace .', "This Bitcoin Mining Project Redefines Autopilot Mode For Cloud Mining London, United Kingdom --News Direct-- Prodigy Press Wire CGMD Miner: Paving Ways For Newer Trends in Bitcoin Mining A transformative shift in cryptocurrency mining is indeed on the horizon. However, only some individuals can afford and manage the hefty mining hardware due to various reasons. Technical challenges also come into the picture, making it even more inaccessible for the average person. Cloud mining is the solution, eliminating the need for upfront hardware costs and troubles. Anyone with an internet connection can rent mining equipment in remote data centers to participate in the mining process. Notably, crypto mining platform CGMD Miner blazes a trail in simplifying cloud mining and allowing users to diversify their passive income streams. The platform is revolutionizing the way users can passively earn cryptocurrencies with its innovative autopilot mode. Key Features of CGMD Miner's Autopilot Mode Here's a brief overview of how users can benefit from CGMD Miner's autopilot mode and other features: 1. Simplified Registration Process: Signing up for CGMD Miner takes less than 3 minutes and is completely free. Users only need to provide their email address to create an account, and as a bonus, they receive an instant bonus of $10 upon registration. 2. User-Friendly Interface: The platform's interface is designed so that every user can access it easily. Users can easily track and manage potential future earnings, making it straightforward to plan for passive income. 3. Referral Commissions: Users can earn up to $3000 in referral commissions by promoting the platform to others. CGMD Miner's multi-level affiliate program aids users in maximizing their earnings. 4. Autopilot Option: The autopilot feature allows users to grow their passive income through a cost-effective and time-saving way. A seasoned trader or a novice investor can opt for growing their crypto wealth without additional investments. Moreover, CGMD Miner guarantees the principal and returns on investment. 5. Mining Contract Options: CGMD Miner offers a variety of mining contracts at different price points, ranging from $10 to $3,000. These contracts cater to diverse levels of passive income. About CGMD Miner CGMD Miner is a reputable mining service platform that also provides free cloud mining services. With over 380,000 members spread across more than 200 countries, CGMD Miner has established itself as a dependable player in the cryptocurrency mining industry. The platform prioritizes user experience and accessibility, making it possible for individuals with no technical expertise or substantial financial resources to earn cryptocurrencies as passive income. Story continues Furthermore, CGMD Miner provides features like daily profit withdrawals, earnings monitoring, and round-the-clock technical support, ensuring 100% uptime and platform security. To learn more about CGMD Miner, please visit the official website: https://www.365miner.com/ Media Contact Name: Jordana Leonidas Email: [email protected] Location: 65 Compton Street, London, United Kingdom, EC1V 0BN Disclaimer: This press release is for informational purposes only and does not constitute financial advice. Readers should exercise caution and consult with qualified financial professionals or experts before making any financial decisions or investments Release ID: 760014 View source version on newsdirect.com: https://newsdirect.com/news/cgmd-miner-paving-ways-for-newer-trends-in-bitcoin-mining-668926502 View comments", "This Bitcoin Mining Project Redefines Autopilot Mode For Cloud Mining London, United Kingdom --News Direct-- Prodigy Press Wire CGMD Miner: Paving Ways For Newer Trends in Bitcoin Mining A transformative shift in cryptocurrency mining is indeed on the horizon. However, only some individuals can afford and manage the hefty mining hardware due to various reasons. Technical challenges also come into the picture, making it even more inaccessible for the average person. Cloud mining is the solution, eliminating the need for upfront hardware costs and troubles. Anyone with an internet connection can rent mining equipment in remote data centers to participate in the mining process. Notably, crypto mining platform CGMD Miner blazes a trail in simplifying cloud mining and allowing users to diversify their passive income streams. The platform is revolutionizing the way users can passively earn cryptocurrencies with its innovative autopilot mode. Key Features of CGMD Miner's Autopilot Mode Here's a brief overview of how users can benefit from CGMD Miner's autopilot mode and other features: 1. Simplified Registration Process: Signing up for CGMD Miner takes less than 3 minutes and is completely free. Users only need to provide their email address to create an account, and as a bonus, they receive an instant bonus of $10 upon registration. 2. User-Friendly Interface: The platform's interface is designed so that every user can access it easily. Users can easily track and manage potential future earnings, making it straightforward to plan for passive income. 3. Referral Commissions: Users can earn up to $3000 in referral commissions by promoting the platform to others. CGMD Miner's multi-level affiliate program aids users in maximizing their earnings. 4. Autopilot Option: The autopilot feature allows users to grow their passive income through a cost-effective and time-saving way. A seasoned trader or a novice investor can opt for growing their crypto wealth without additional investments. Moreover, CGMD Miner guarantees the principal and returns on investment. 5. Mining Contract Options: CGMD Miner offers a variety of mining contracts at different price points, ranging from $10 to $3,000. These contracts cater to diverse levels of passive income. About CGMD Miner CGMD Miner is a reputable mining service platform that also provides free cloud mining services. With over 380,000 members spread across more than 200 countries, CGMD Miner has established itself as a dependable player in the cryptocurrency mining industry. The platform prioritizes user experience and accessibility, making it possible for individuals with no technical expertise or substantial financial resources to earn cryptocurrencies as passive income. Story continues Furthermore, CGMD Miner provides features like daily profit withdrawals, earnings monitoring, and round-the-clock technical support, ensuring 100% uptime and platform security. To learn more about CGMD Miner, please visit the official website: https://www.365miner.com/ Media Contact Name: Jordana Leonidas Email: [email protected] Location: 65 Compton Street, London, United Kingdom, EC1V 0BN Disclaimer: This press release is for informational purposes only and does not constitute financial advice. Readers should exercise caution and consult with qualified financial professionals or experts before making any financial decisions or investments Release ID: 760014 View source version on newsdirect.com: https://newsdirect.com/news/cgmd-miner-paving-ways-for-newer-trends-in-bitcoin-mining-668926502 View comments", "This Bitcoin Mining Project Redefines Autopilot Mode For Cloud Mining London, United Kingdom --News Direct-- Prodigy Press Wire CGMD Miner: Paving Ways For Newer Trends in Bitcoin Mining A transformative shift in cryptocurrency mining is indeed on the horizon. However, only some individuals can afford and manage the hefty mining hardware due to various reasons. Technical challenges also come into the picture, making it even more inaccessible for the average person. Cloud mining is the solution, eliminating the need for upfront hardware costs and troubles. Anyone with an internet connection can rent mining equipment in remote data centers to participate in the mining process. Notably, crypto mining platform CGMD Miner blazes a trail in simplifying cloud mining and allowing users to diversify their passive income streams. The platform is revolutionizing the way users can passively earn cryptocurrencies with its innovative autopilot mode. Key Features of CGMD Miner's Autopilot Mode Here's a brief overview of how users can benefit from CGMD Miner's autopilot mode and other features: 1. Simplified Registration Process: Signing up for CGMD Miner takes less than 3 minutes and is completely free. Users only need to provide their email address to create an account, and as a bonus, they receive an instant bonus of $10 upon registration. 2. User-Friendly Interface: The platform's interface is designed so that every user can access it easily. Users can easily track and manage potential future earnings, making it straightforward to plan for passive income. 3. Referral Commissions: Users can earn up to $3000 in referral commissions by promoting the platform to others. CGMD Miner's multi-level affiliate program aids users in maximizing their earnings. 4. Autopilot Option: The autopilot feature allows users to grow their passive income through a cost-effective and time-saving way. A seasoned trader or a novice investor can opt for growing their crypto wealth without additional investments. Moreover, CGMD Miner guarantees the principal and returns on investment. 5. Mining Contract Options: CGMD Miner offers a variety of mining contracts at different price points, ranging from $10 to $3,000. These contracts cater to diverse levels of passive income. About CGMD Miner CGMD Miner is a reputable mining service platform that also provides free cloud mining services. With over 380,000 members spread across more than 200 countries, CGMD Miner has established itself as a dependable player in the cryptocurrency mining industry. The platform prioritizes user experience and accessibility, making it possible for individuals with no technical expertise or substantial financial resources to earn cryptocurrencies as passive income. Story continues Furthermore, CGMD Miner provides features like daily profit withdrawals, earnings monitoring, and round-the-clock technical support, ensuring 100% uptime and platform security. To learn more about CGMD Miner, please visit the official website: https://www.365miner.com/ Media Contact Name: Jordana Leonidas Email: [email protected] Location: 65 Compton Street, London, United Kingdom, EC1V 0BN Disclaimer: This press release is for informational purposes only and does not constitute financial advice. Readers should exercise caution and consult with qualified financial professionals or experts before making any financial decisions or investments Release ID: 760014 View source version on newsdirect.com: https://newsdirect.com/news/cgmd-miner-paving-ways-for-newer-trends-in-bitcoin-mining-668926502 View comments"]...
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-22
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $583,798,203,512
- Hash Rate: 464179303.53077024
- Transaction Count: 252457.0
- Unique Addresses: 577606.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.53
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: There’s been much discussion this year about how themarket rally has been concentratedin a handful of mega-captech stocks. Most stocks are flat or down, grumble analysts, noting that the blue-chipDow Jones Industrial Averagerecentlyturned negative on the year. If it weren’t for a catalyst in artificial intelligence (AI), the entire market might be in the red right now.
While much of this is true, look a little closer and one can see several stocks that have racked up big gains so far in 2023.
The broader market might be treading water, but several individual stocks have been soaring and outperforming. These are not the usual suspects. There are many lesser known, unheralded securities that are up 50%, 100%, or more this year. The gains in these names are being fueled by strong earnings, improving sentiment, and some surprising catalysts. Here are silent winners: seven overlooked stocks posting impressive gains.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Source: Yev_1234 / Shutterstock
The price of Bitcoin (BTC-USD) has risen nearly 70% this year. That has meant boom times for cryptocurrency miners such asMarathon Digital(NASDAQ:MARA).
The crypto miner just reported that it produced 1,242 Bitcoin in September,a 16% increase from Augustof this year and a 245% increase from September 2022 when the sector was in the grips of a “crypto winter” and prices for digital coins and tokens were in freefall. The increased production comes as the price of BTC has remained buoyant despite a decline in stocks since August.
Marathon Digital said it has now produced 8,610 Bitcoin this year and is searching for new mining locations that offer low-cost renewable energy that’s needed to mine for crypto. Owing to the increased activity and growth in cryptocurrency prices,MARA stock has gained 145%this year, nearly matching the increase in shares ofMeta(NASDAQ:META).
Over the last five years, Marathon Digital’s stock has increased 233%. While grossly under reported, crypto mining stocks are soaring this year.
Source: Ken Wolter / Shutterstock.com
There’s been a lot of talk this year about tech stocks, but almost no mention ofDell Technologies(NYSE:DELL). That seems strange given that the maker of laptops, monitors, and other computer hardware has been on a bull run.
DELL stock is up 64% this year, has gained 95% over the last 12 months, and is up 150% since the company returned to the public markets five years ago after a hiatus. The rise in Dell Technologies’ share price is all the more impressive given that sales of personal computers globally havebeen in a funk for the past two years.
DELL stock is currently trading near an all-time high. The company isbenefitting from diversificationand its moves into new areas beyond computer hardware such as cloud computing and data protection. Management is also focusing on the red hot area AI, mentioning the term “AI” nearly 20 times during itslast earnings callwith analysts and media. Dell has also posted better-than-expected financial results and raised guidance this year. DELL stock also pays a dividend of 37 cents a share per quarter, for a yield of 2.23%.
Source: Paul McKinnon / Shutterstock.com
Abercrombie & Fitch(NYSE:ANF) is a retailer known for selling casual wear. However, ANF stock has been trading more like a tech start-up this year than a clothing retailer.
Year-to-date, Abercrombie’s share price has risen 141%. Thestock is up 268%over the last 12 months. Through five years, the shares have increased 200%. It’s a remarkable result that has trounced the performance of just about every other clothing retailer.The Gap’s(NYSE:GPS) stock is down 10% this year, for example.
ANF stock began to skyrocket aftera surprise profitwas reported at the end of May this year. Abercrombie subsequently issued an earnings print at the end of August thatobliterated Wall Street forecasts, announcing a profit of $1.10 a share when analysts had been looking for earnings of just 17 cents. Revenue also crushed consensus forecasts.
The company also raised its outlook for the remainder of this year, saying it now expects sales to grow 10%, up from previous guidance of 2% growth. ANF stock is like a runaway train at this point.
Source: Sundry Photography / Shutterstock.com
After years in the wilderness, shares ofGeneral Electric(NYSE:GE) have come roaring back. GE stock is up 66% in 2023, and has increased 117% in the past 12 months. The revival comes after the industrial giant successfully spun-off its healthcare unit in January. More changes are coming, with GE planning tospin-off its power generation businessin early 2024. These change enable General Electric to focus more on its core businesses (which are also its most profitable) of aerospace and renewable energy.
The breakup of its business is already having a positive impact on General Electric’s earnings.GE stock rose 6%after the company’s most recent financial results beat Wall Street forecasts across the board, and the company raised its full-year profit outlook. The company said it is benefitting from strong demand for its jet engine parts and airline maintenance work amid the current boom in air travel.
Despite this year’s big run, GE stock looks attractively valued trading at 13 times future earnings.
Source: Teerasak Ladnongkhun/Shutterstock.com
Fair Isaac Corp. (NYSE:FICO) is the credit scoring company that’s behind everybody’s FICO score, which measures consumer credit worthiness. Fair Isaac is the kind of company that provides an essential service in a niche market, giving ita near-monopoly positionin the marketplace and a wide moat around its business. Some 95% of financial institutions in the U.S. are clients of Fair Isaac.
With the economy in flux and interest rates at their highest level in 22-years, credit checks and FICO scores are being scrutinized now more than ever before, leading toboom times at Fair Isaac. This is reflected in FICO stock, which is up 50% this year, up 124% over the last 12 months, and up 330% over the past five years. The share price is currently near a 52-week high. The stock isn’t cheap, but its long-term outperformance and competitive position make it worth the expense.
Source: NAN728 / Shutterstock.com
After being crushed during the pandemic, cruise line operatorCarnival Corp.(NYSE:CCL) is gaining ground again. CCL stock has risen 59% year to date, and is up 99% in the last 12 months. Other cruise operators such asRoyal Caribbean(NYSE:RCL) have seensimilarly strong gainsin their share prices this year. With the heights of the pandemic firmly in our rearview mirror and cruise bookings up sharply, Carnival’s earnings and its stock are once again moving higher. It’s welcome news after two very difficult years for the global cruise line industry.
The company announced that it is seeing thehighest demand for bookingsin more than 50 years as people take to the high seas once again. CCL stock is also gaining traction from the fact that the company is making progress in terms of paying down its $30 billion debt load, the majority of which it incurred while its ships were idled during the Covid-19 crisis.
The companyjust reportedthat its fiscal third quarter net income, or profit, topped $1 billion and its revenue hit anall-time high of $6.85 billion, both topping Wall Street forecasts.
Source: Michael Vi / Shutterstock.com
How about a microchip and semiconductor stock not namedNvidia(NASDAQ:NVDA)? For that we turn toMarvell Technology(NASDAQ:MRVL), a chip stock that has been performing well this year with little fanfare. Since January,MRVL stock has gained 50%, bringing its five year advance to 200%. The company, whose technology is used in areas such as computer, networking, security and storage, is seeing strong demand and earnings growth.
Like most chip and semiconductor companies, Marvell also has abig opportunity in AI. So much so, that MRVL stock rose more than 30% at the end of May when management highlightedthe company’s potential AI catalystduring an earnings call.
More recently, the companybeat Wall Street expectationswith its quarterly print delivered at the end of August, reporting a profit of 33 cents a share on sales of $1.34 billion compared to 32 cents a share and sales of $1.33 billion that analysts had penciled in for the company.
On the date of publication, Joel Baglole held long positions in FICO and NVDA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
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The postSilent Winners: 7 Overlooked Stocks Posting Impressive Gainsappeared first onInvestorPlace....
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['LONDON, Oct 23 (Reuters) - Cryptocurrency\'s role in terrorist financing and funding militant groups has come under renewed scrutiny following a deadly attack in Israel by Palestinian militant group Hamas.\nIsrael has seized crypto accounts it says are linked to Hamas. U.S. lawmakers have urged the government to crack down on the use of cryptocurrencies by Hamas and its affiliates.\nBut cryptocurrencies are just one way that violent militant groups and groups designated as terrorist organisations get and use money. Here\'s what we know about crypto\'s role.\nWHY IS CRYPTO USED IN ILLICIT FINANCE?\nAnyone can set up a cryptocurrency wallet address, without always having to undergo checks such as those by a bank.\nThe addresses are pseudonymous – labelled only by a string of letters and numbers – which means people can send and receive cryptocurrency without revealing their identity.\nThe blockchain technology that underpins cryptocurrency operates digitally, across borders, meaning that it can act as an instant payments system.\nCrypto is subject globally to less specific regulation than traditional finance, although new rules are being introduced in some regions.\nThe Financial Action Task Force (FATF), the global body responsible for tackling money laundering and terrorist financing, has warned that crypto assets "risk becoming a safe haven for the financial transactions of criminals and terrorists".\nCAN CRYPTO NOT BE TRACKED?\nYes. But not always.\nBlockchains such as Bitcoin and Ethereum create a permanent public record of transactions. This means it is possible to see what funds have flowed in and out of a wallet address, and which wallets it interacted with.\nIt is hard for an outsider to identify transactions on the blockchain but blockchain analytics firms have tools to track funds.\nStill, in order to link these flows to a person or group, researchers rely on information not recorded by the blockchain.\nCrypto exchanges can record which addresses belong to which customer and police can unmask those behind wallets.\nCryptocurrency users can further obscure their tracks by the use of crypto "mixers", or move funds to exchanges or other firms where they can become difficult to distinguish from other customers\' assets.\nHOW MUCH CRYPTO IS USED IN TERRORIST FINANCING?\nNo one knows for sure.\nMilitant groups use different methods to move money, including cash, banks, shell companies and charities, and informal financial networks. Crypto is a small part, experts say.\nA United Nations official said in 2022 that a couple of years ago 5% of terrorist attacks were considered to be financed by crypto, but that this may go up to 20%, Bloomberg reported.\nThe FATF said this year that crypto presents "increasing terrorist financing risks", but that the "vast majority" of terrorist financing still uses regular money.\nWhen illicit finance flows are identified at a crypto firm, that doesn\'t necessarily mean all of that firm\'s flows are tainted, crypto researchers Chainalysis said in a blog.\nChainalysis said that terrorist financing "represents a small fraction of the less than 1% of the entire crypto market occupied by illicit activity".\nWHAT ABOUT OTHER FORMS OF ILLICIT FINANCE?\nTerrorist financing is a small part of the illicit uses of crypto, which include scams, ransomware and theft.\nCrypto crime hit a record $20.1 billion in 2022, Chainalysis said, calling this a lower bound estimate. That figure excludes when cryptocurrencies are the proceeds of non-crypto crimes such as payment for drugs.\nCryptocurrency theft via cyber attacks is also a significant source of funding for North Korea, according to UN reports.\nSome banks in the UK have curbed customers\' access to crypto because of a rise in crypto scams. (Reporting by Elizabeth Howcroft and Tom Wilson; editing by John O\'Donnell and Ed Osmond)', 'LONDON, Oct 23 (Reuters) - Cryptocurrency\'s role in terrorist financing and funding militant groups has come under renewed scrutiny following a deadly attack in Israel by Palestinian militant group Hamas. Israel has seized crypto accounts it says are linked to Hamas. U.S. lawmakers have urged the government to crack down on the use of cryptocurrencies by Hamas and its affiliates. But cryptocurrencies are just one way that violent militant groups and groups designated as terrorist organisations get and use money. Here\'s what we know about crypto\'s role. WHY IS CRYPTO USED IN ILLICIT FINANCE? Anyone can set up a cryptocurrency wallet address, without always having to undergo checks such as those by a bank. The addresses are pseudonymous – labelled only by a string of letters and numbers – which means people can send and receive cryptocurrency without revealing their identity. The blockchain technology that underpins cryptocurrency operates digitally, across borders, meaning that it can act as an instant payments system. Crypto is subject globally to less specific regulation than traditional finance, although new rules are being introduced in some regions. The Financial Action Task Force (FATF), the global body responsible for tackling money laundering and terrorist financing, has warned that crypto assets "risk becoming a safe haven for the financial transactions of criminals and terrorists". CAN CRYPTO NOT BE TRACKED? Yes. But not always. Blockchains such as Bitcoin and Ethereum create a permanent public record of transactions. This means it is possible to see what funds have flowed in and out of a wallet address, and which wallets it interacted with. It is hard for an outsider to identify transactions on the blockchain but blockchain analytics firms have tools to track funds. Still, in order to link these flows to a person or group, researchers rely on information not recorded by the blockchain. Crypto exchanges can record which addresses belong to which customer and police can unmask those behind wallets. Story continues Cryptocurrency users can further obscure their tracks by the use of crypto "mixers", or move funds to exchanges or other firms where they can become difficult to distinguish from other customers\' assets. HOW MUCH CRYPTO IS USED IN TERRORIST FINANCING? No one knows for sure. Militant groups use different methods to move money, including cash, banks, shell companies and charities, and informal financial networks. Crypto is a small part, experts say. A United Nations official said in 2022 that a couple of years ago 5% of terrorist attacks were considered to be financed by crypto, but that this may go up to 20%, Bloomberg reported. The FATF said this year that crypto presents "increasing terrorist financing risks", but that the "vast majority" of terrorist financing still uses regular money. When illicit finance flows are identified at a crypto firm, that doesn\'t necessarily mean all of that firm\'s flows are tainted, crypto researchers Chainalysis said in a blog. Chainalysis said that terrorist financing "represents a small fraction of the less than 1% of the entire crypto market occupied by illicit activity". WHAT ABOUT OTHER FORMS OF ILLICIT FINANCE? Terrorist financing is a small part of the illicit uses of crypto, which include scams, ransomware and theft. Crypto crime hit a record $20.1 billion in 2022, Chainalysis said, calling this a lower bound estimate. That figure excludes when cryptocurrencies are the proceeds of non-crypto crimes such as payment for drugs. Cryptocurrency theft via cyber attacks is also a significant source of funding for North Korea, according to UN reports. Some banks in the UK have curbed customers\' access to crypto because of a rise in crypto scams. (Reporting by Elizabeth Howcroft and Tom Wilson; editing by John O\'Donnell and Ed Osmond)', 'LONDON (Reuters) - Cryptocurrency\'s role in terrorist financing and funding militant groups has come under renewed scrutiny following a deadly attack in Israel by Palestinian militant group Hamas. Israel has seized crypto accounts it says are linked to Hamas. U.S. lawmakers have urged the government to crack down on the use of cryptocurrencies by Hamas and its affiliates. But cryptocurrencies are just one way that violent militant groups and groups designated as terrorist organisations get and use money. Here\'s what we know about crypto\'s role. WHY IS CRYPTO USED IN ILLICIT FINANCE? Anyone can set up a cryptocurrency wallet address, without always having to undergo checks such as those by a bank. The addresses are pseudonymous – labelled only by a string of letters and numbers – which means people can send and receive cryptocurrency without revealing their identity. The blockchain technology that underpins cryptocurrency operates digitally, across borders, meaning that it can act as an instant payments system. Crypto is subject globally to less specific regulation than traditional finance, although new rules are being introduced in some regions. The Financial Action Task Force (FATF), the global body responsible for tackling money laundering and terrorist financing, has warned that crypto assets "risk becoming a safe haven for the financial transactions of criminals and terrorists". CAN CRYPTO NOT BE TRACKED? Yes. But not always. Blockchains such as Bitcoin and Ethereum create a permanent public record of transactions. This means it is possible to see what funds have flowed in and out of a wallet address, and which wallets it interacted with. It is hard for an outsider to identify transactions on the blockchain but blockchain analytics firms have tools to track funds. Still, in order to link these flows to a person or group, researchers rely on information not recorded by the blockchain. Crypto exchanges can record which addresses belong to which customer and police can unmask those behind wallets. Story continues Cryptocurrency users can further obscure their tracks by the use of crypto "mixers", or move funds to exchanges or other firms where they can become difficult to distinguish from other customers\' assets. HOW MUCH CRYPTO IS USED IN TERRORIST FINANCING? No one knows for sure. Militant groups use different methods to move money, including cash, banks, shell companies and charities, and informal financial networks. Crypto is a small part, experts say. A United Nations official said in 2022 that a couple of years ago 5% of terrorist attacks were considered to be financed by crypto, but that this may go up to 20%, Bloomberg reported. The FATF said this year that crypto presents "increasing terrorist financing risks", but that the "vast majority" of terrorist financing still uses regular money. When illicit finance flows are identified at a crypto firm, that doesn\'t necessarily mean all of that firm\'s flows are tainted, crypto researchers Chainalysis said in a blog. Chainalysis said that terrorist financing "represents a small fraction of the less than 1% of the entire crypto market occupied by illicit activity". WHAT ABOUT OTHER FORMS OF ILLICIT FINANCE? Terrorist financing is a small part of the illicit uses of crypto, which include scams, ransomware and theft. Crypto crime hit a record $20.1 billion in 2022, Chainalysis said, calling this a lower bound estimate. That figure excludes when cryptocurrencies are the proceeds of non-crypto crimes such as payment for drugs. Cryptocurrency theft via cyber attacks is also a significant source of funding for North Korea, according to UN reports. Some banks in the UK have curbed customers\' access to crypto because of a rise in crypto scams. (Reporting by Elizabeth Howcroft and Tom Wilson; editing by John O\'Donnell and Ed Osmond)', 'LONDON (Reuters) - Cryptocurrency\'s role in terrorist financing and funding militant groups has come under renewed scrutiny following a deadly attack in Israel by Palestinian militant group Hamas. Israel has seized crypto accounts it says are linked to Hamas. U.S. lawmakers have urged the government to crack down on the use of cryptocurrencies by Hamas and its affiliates. But cryptocurrencies are just one way that violent militant groups and groups designated as terrorist organisations get and use money. Here\'s what we know about crypto\'s role. WHY IS CRYPTO USED IN ILLICIT FINANCE? Anyone can set up a cryptocurrency wallet address, without always having to undergo checks such as those by a bank. The addresses are pseudonymous – labelled only by a string of letters and numbers – which means people can send and receive cryptocurrency without revealing their identity. The blockchain technology that underpins cryptocurrency operates digitally, across borders, meaning that it can act as an instant payments system. Crypto is subject globally to less specific regulation than traditional finance, although new rules are being introduced in some regions. The Financial Action Task Force (FATF), the global body responsible for tackling money laundering and terrorist financing, has warned that crypto assets "risk becoming a safe haven for the financial transactions of criminals and terrorists". CAN CRYPTO NOT BE TRACKED? Yes. But not always. Blockchains such as Bitcoin and Ethereum create a permanent public record of transactions. This means it is possible to see what funds have flowed in and out of a wallet address, and which wallets it interacted with. It is hard for an outsider to identify transactions on the blockchain but blockchain analytics firms have tools to track funds. Still, in order to link these flows to a person or group, researchers rely on information not recorded by the blockchain. Crypto exchanges can record which addresses belong to which customer and police can unmask those behind wallets. Cryptocurrency users can further obscure their tracks by the use of crypto "mixers", or move funds to exchanges or other firms where they can become difficult to distinguish from other customers\' assets. HOW MUCH CRYPTO IS USED IN TERRORIST FINANCING? No one knows for sure. Militant groups use different methods to move money, including cash, banks, shell companies and charities, and informal financial networks. Crypto is a small part, experts say. A United Nations official said in 2022 that a couple of years ago 5% of terrorist attacks were considered to be financed by crypto, but that this may go up to 20%, Bloomberg reported. Story continues The FATF said this year that crypto presents "increasing terrorist financing risks", but that the "vast majority" of terrorist financing still uses regular money. When illicit finance flows are identified at a crypto firm, that doesn\'t necessarily mean all of that firm\'s flows are tainted, crypto researchers Chainalysis said in a blog. Chainalysis said that terrorist financing "represents a small fraction of the less than 1% of the entire crypto market occupied by illicit activity". WHAT ABOUT OTHER FORMS OF ILLICIT FINANCE? Terrorist financing is a small part of the illicit uses of crypto, which include scams, ransomware and theft. Crypto crime hit a record $20.1 billion in 2022, Chainalysis said, calling this a lower bound estimate. That figure excludes when cryptocurrencies are the proceeds of non-crypto crimes such as payment for drugs. Cryptocurrency theft via cyber attacks is also a significant source of funding for North Korea, according to UN reports. Some banks in the UK have curbed customers\' access to crypto because of a rise in crypto scams. (Reporting by Elizabeth Howcroft and Tom Wilson; editing by John O\'Donnell and Ed Osmond) View comments', 'LONDON (Reuters) - Cryptocurrency\'s role in terrorist financing and funding militant groups has come under renewed scrutiny following a deadly attack in Israel by Palestinian militant group Hamas.\nIsrael has seized crypto accounts it says are linked to Hamas. U.S. lawmakers have urged the government to crack down on the use of cryptocurrencies by Hamas and its affiliates.\nBut cryptocurrencies are just one way that violent militant groups and groups designated as terrorist organisations get and use money. Here\'s what we know about crypto\'s role.\nWHY IS CRYPTO USED IN ILLICIT FINANCE?\nAnyone can set up a cryptocurrency wallet address, without always having to undergo checks such as those by a bank.\nThe addresses are pseudonymous – labelled only by a string of letters and numbers – which means people can send and receive cryptocurrency without revealing their identity.\nThe blockchain technology that underpins cryptocurrency operates digitally, across borders, meaning that it can act as an instant payments system.\nCrypto is subject globally to less specific regulation than traditional finance, although new rules are being introduced in some regions.\nThe Financial Action Task Force (FATF), the global body responsible for tackling money laundering and terrorist financing, has warned that crypto assets "risk becoming a safe haven for the financial transactions of criminals and terrorists".\nCAN CRYPTO NOT BE TRACKED?\nYes. But not always.\nBlockchains such as Bitcoin and Ethereum create a permanent public record of transactions. This means it is possible to see what funds have flowed in and out of a wallet address, and which wallets it interacted with.\nIt is hard for an outsider to identify transactions on the blockchain but blockchain analytics firms have tools to track funds.\nStill, in order to link these flows to a person or group, researchers rely on information not recorded by the blockchain.\nCrypto exchanges can record which addresses belong to which customer and police can unmask those behind wallets.\nCryptocurrency users can further obscure their tracks by the use of crypto "mixers", or move funds to exchanges or other firms where they can become difficult to distinguish from other customers\' assets.\nHOW MUCH CRYPTO IS USED IN TERRORIST FINANCING?\nNo one knows for sure.\nMilitant groups use different methods to move money, including cash, banks, shell companies and charities, and informal financial networks. Crypto is a small part, experts say.\nA United Nations official said in 2022 that a couple of years ago 5% of terrorist attacks were considered to be financed by crypto, but that this may go up to 20%, Bloomberg reported.\nThe FATF said this year that crypto presents "increasing terrorist financing risks", but that the "vast majority" of terrorist financing still uses regular money.\nWhen illicit finance flows are identified at a crypto firm, that doesn\'t necessarily mean all of that firm\'s flows are tainted, crypto researchers Chainalysis said in a blog.\nChainalysis said that terrorist financing "represents a small fraction of the less than 1% of the entire crypto market occupied by illicit activity".\nWHAT ABOUT OTHER FORMS OF ILLICIT FINANCE?\nTerrorist financing is a small part of the illicit uses of crypto, which include scams, ransomware and theft.\nCrypto crime hit a record $20.1 billion in 2022, Chainalysis said, calling this a lower bound estimate. That figure excludes when cryptocurrencies are the proceeds of non-crypto crimes such as payment for drugs.\nCryptocurrency theft via cyber attacks is also a significant source of funding for North Korea, according to UN reports.\nSome banks in the UK have curbed customers\' access to crypto because of a rise in crypto scams.\n(Reporting by Elizabeth Howcroft and Tom Wilson; editing by John O\'Donnell and Ed Osmond)', 'LONDON (Reuters) - Cryptocurrency\'s role in terrorist financing and funding militant groups has come under renewed scrutiny following a deadly attack in Israel by Palestinian militant group Hamas. Israel has seized crypto accounts it says are linked to Hamas. U.S. lawmakers have urged the government to crack down on the use of cryptocurrencies by Hamas and its affiliates. But cryptocurrencies are just one way that violent militant groups and groups designated as terrorist organisations get and use money. Here\'s what we know about crypto\'s role. WHY IS CRYPTO USED IN ILLICIT FINANCE? Anyone can set up a cryptocurrency wallet address, without always having to undergo checks such as those by a bank. The addresses are pseudonymous – labelled only by a string of letters and numbers – which means people can send and receive cryptocurrency without revealing their identity. The blockchain technology that underpins cryptocurrency operates digitally, across borders, meaning that it can act as an instant payments system. Crypto is subject globally to less specific regulation than traditional finance, although new rules are being introduced in some regions. The Financial Action Task Force (FATF), the global body responsible for tackling money laundering and terrorist financing, has warned that crypto assets "risk becoming a safe haven for the financial transactions of criminals and terrorists". CAN CRYPTO NOT BE TRACKED? Yes. But not always. Blockchains such as Bitcoin and Ethereum create a permanent public record of transactions. This means it is possible to see what funds have flowed in and out of a wallet address, and which wallets it interacted with. It is hard for an outsider to identify transactions on the blockchain but blockchain analytics firms have tools to track funds. Still, in order to link these flows to a person or group, researchers rely on information not recorded by the blockchain. Crypto exchanges can record which addresses belong to which customer and police can unmask those behind wallets. Cryptocurrency users can further obscure their tracks by the use of crypto "mixers", or move funds to exchanges or other firms where they can become difficult to distinguish from other customers\' assets. HOW MUCH CRYPTO IS USED IN TERRORIST FINANCING? No one knows for sure. Militant groups use different methods to move money, including cash, banks, shell companies and charities, and informal financial networks. Crypto is a small part, experts say. A United Nations official said in 2022 that a couple of years ago 5% of terrorist attacks were considered to be financed by crypto, but that this may go up to 20%, Bloomberg reported. Story continues The FATF said this year that crypto presents "increasing terrorist financing risks", but that the "vast majority" of terrorist financing still uses regular money. When illicit finance flows are identified at a crypto firm, that doesn\'t necessarily mean all of that firm\'s flows are tainted, crypto researchers Chainalysis said in a blog. Chainalysis said that terrorist financing "represents a small fraction of the less than 1% of the entire crypto market occupied by illicit activity". WHAT ABOUT OTHER FORMS OF ILLICIT FINANCE? Terrorist financing is a small part of the illicit uses of crypto, which include scams, ransomware and theft. Crypto crime hit a record $20.1 billion in 2022, Chainalysis said, calling this a lower bound estimate. That figure excludes when cryptocurrencies are the proceeds of non-crypto crimes such as payment for drugs. Cryptocurrency theft via cyber attacks is also a significant source of funding for North Korea, according to UN reports. Some banks in the UK have curbed customers\' access to crypto because of a rise in crypto scams. (Reporting by Elizabeth Howcroft and Tom Wilson; editing by John O\'Donnell and Ed Osmond) View comments', 'In November 2022, in the weeks following FTX’s collapse , Harvard University Professor Kenneth Rogoff argued that the end of crypto was in sight. “It is hard to see how crypto could compete with more efficient financial intermediation options,” he wrote at the time. Less than a year later, PayPal has launched its own digital currency. Another heavyweight, VISA , had similar plans before opting to increasingly use Circle’s USDC . In the same vein, some of the largest and best-known institutional names on Wall Street and beyond have entered decentralized finance , with BlackRock , Schroders, Fidelity International , Goldman Sachs and Abrdn among those that have made significant and strategic moves into crypto through investment products, collective offerings and mergers and acquisitions. This move into DeFi by blue-chip institutional firms has shown that digital assets and the technologies on which they are built, can and are being considered as a new asset class by institutional investors and money managers (even if sold in exchange-traded funds and trust structures of old). And secondly, these types of companies see market opportunities to utilize the technology and infrastructure either in their offering or as an investment opportunity to profit from. Further, this institutional shift reflects a change in opinion, particularly from notable people such as Larry Fink, the CEO of BlackRock . Beneath these moves are varying motives and aims. Some are commercial, such as servicing client needs in-house and earning fees for doing so. For others, it’s about technology usage, asset class exposure and a new digital economy in Web3 that is yet to materialize. Yet for some, it is about retaining centralized power, influence and control over a new international financial system. That power isn’t necessarily a bad thing. Large institutional investors bring capital, expertise, research and development, structure, and professional standards to a DeFi system that, from philosophical design to practical implementation, hasn’t had that, and that has come at reputational and financial cost. However, traditional finance may need to move with caution, too, as on either side could be reactions against the move by those with something to lose. For instance, the large projects in the digital asset world — like ETH, XRP, USDT and ADA — alongside the largest centralized exchanges have been what many interact with within the sector, but this ignores projects tied to commodities, particular countries, biometrics (WorldPay), health, supply chains and trade. So, while a fixation on Bitcoin can make sense, it is also fairly primitive. From a TradFi perspective, it remains to be seen how they will interact with the many subsections of DeFi, good or bad. Story continues Crypto projects, venture capital firms, mentions by Elon Musk, and centralized exchanges have played a part in financing and promoting projects that otherwise would not receive interest from traditional finance, which can be slow and exclusionary in resource allocation beyond the expected routes. The quality and stability of decentralized finance projects are sometimes questionable, but TradFi is not without its own self-created issues — 2000, 2008 and LIBOR, anyone? TradeFi’s move into DeFi clearly brings benefits and positive spillover effects, most notably in investment, volume trading, wider usage, professionalism and reliability. The International Monetary Fund, for its part, has asserted that TradFi and DeFi “must work together” — which makes sense. But the question of, in whose interests it would serve, is more opaque. If it’s for investors, economic development and unlocking new asset classes with both digital and real-world impact, then great. Either way, DeFi firms will have to up their game and their remit, and look at offering services traditionally considered to belong to TradeFi. In addition, people should become more conscious about who owns and controls the technical and physical infrastructure that underpins the industry. As someone who has worked in both TradeFi and DeFi, stronger relations and opportunities to work and innovate side-by-side should be welcomed — competition is natural and innovation is needed, yet anything else would suggest conflicting forces ahead. One thing TradFi’s firms likely haven’t considered is that DeFi may well enter their remit in an act of DeFi-TradFi normalization and that in a new digital and industrial revolution, DeFi is advantaged by being the upstart, not the incumbent. As far as institutional investor acceptance and asset development, this is arguably an interesting moment being enacted by the biggest names out there, yet calling it a “pivotal moment” seems hasty as the digital asset industry remains in a state of recovery and change. And a weakened DeFi industry is more vulnerable, so TradFi’s moves could be strategically timed and less circumstantial. Ultimately, let’s hope that TradeFi and DeFi achieve a level of cooperation, co-investment, and vision that improves things for all involved. View comments', 'In November 2022, in the weeks followingFTX’s collapse, Harvard University Professor Kenneth Rogoff argued that the end of crypto was in sight. “It is hard to see how crypto could compete with more efficient financial intermediation options,” hewroteat the time.\nLess than a year later,PayPal has launchedits own digital currency. Another heavyweight,VISA, had similar plans beforeopting to increasingly use Circle’s USDC. In the same vein, some of the largest and best-known institutional names on Wall Street and beyond have entereddecentralized finance, withBlackRock, Schroders,Fidelity International,Goldman SachsandAbrdnamong those that have made significant and strategic moves into crypto through investment products, collective offerings and mergers and acquisitions.\nThis move intoDeFiby blue-chip institutional firms has shown that digital assets and the technologies on which they are built, can and are being considered as a new asset class by institutional investors and money managers (even if sold in exchange-traded funds and trust structures of old). And secondly, these types of companies see market opportunities to utilize the technology and infrastructure either in their offering or as an investment opportunity to profit from. Further, this institutional shift reflects a change in opinion, particularly from notable people such asLarry Fink, the CEO of BlackRock.\nBeneath these moves are varying motives and aims. Some are commercial, such as servicing client needs in-house and earning fees for doing so. For others, it’s about technology usage, asset class exposure and a new digital economy in Web3 that is yet to materialize. Yet for some, it is about retaining centralized power, influence and control over a new international financial system.\nThat power isn’t necessarily a bad thing. Large institutional investors bring capital, expertise, research and development, structure, and professional standards to a DeFi system that, from philosophical design to practical implementation, hasn’t had that, and that has come at reputational and financial cost. However, traditional finance may need to move with caution, too, as on either side could be reactions against the move by those with something to lose.\nFor instance, the large projects in the digital asset world — like ETH, XRP, USDT and ADA — alongside the largest centralized exchanges have been what many interact with within the sector, but this ignores projects tied to commodities, particular countries, biometrics (WorldPay), health, supply chains and trade. So, while a fixation on Bitcoin can make sense, it is also fairly primitive. From a TradFi perspective, it remains to be seen how they will interact with the many subsections of DeFi, good or bad.\nCrypto projects, venture capital firms, mentions by Elon Musk, and centralized exchanges have played a part in financing and promoting projects that otherwise would not receive interest from traditional finance, which can be slow and exclusionary in resource allocation beyond the expected routes. The quality and stability of decentralized finance projects are sometimes questionable, but TradFi is not without its own self-created issues — 2000, 2008 and LIBOR, anyone?\nTradeFi’s move into DeFi clearly brings benefits and positive spillover effects, most notably in investment, volume trading, wider usage, professionalism and reliability. The International Monetary Fund, for its part,has assertedthat TradFi and DeFi “must work together” — which makes sense. But the question of, in whose interests it would serve, is more opaque. If it’s for investors, economic development and unlocking new asset classes with both digital and real-world impact, then great.\nEither way, DeFi firms will have to up their game and their remit, and look at offering services traditionally considered to belong to TradeFi. In addition, people should become more conscious about who owns and controls the technical and physical infrastructure that underpins the industry.\nAs someone who has worked in both TradeFi and DeFi, stronger relations and opportunities to work and innovate side-by-side should be welcomed — competition is natural and innovation is needed, yet anything else would suggest conflicting forces ahead. One thing TradFi’s firms likely haven’t considered is that DeFi may well enter their remit in an act of DeFi-TradFi normalization and that in a new digital and industrial revolution, DeFi is advantaged by being the upstart, not the incumbent.\nAs far as institutional investor acceptance and asset development, this is arguably an interesting moment being enacted by the biggest names out there, yet calling it a “pivotal moment” seems hasty as the digital asset industry remains in a state of recovery and change. And a weakened DeFi industry is more vulnerable, so TradFi’s moves could be strategically timed and less circumstantial.\nUltimately, let’s hope that TradeFi and DeFi achieve a level of cooperation, co-investment, and vision that improves things for all involved.', "Chicago, IL – October 23, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. NVDA, Coinbase Global, Inc. COIN, Block Inc. SQ and CME Group Inc. CME.\nBitcoin (BTC) is rebounding again after losing sheen somewhat over the past couple of months. The rally started on Oct 16 after the Securities and Exchange Commission (SEC) decided not to appeal its loss against Grayscale Investments in the D.C. Circuit court.\nThis rekindled optimism that the approval of a bitcoin ETF may be on the horizon. This sent Bitcoin and other major cryptocurrencies like Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE) and BNB (BNB) on a rally.\nThis week has particularly been good for Bitcoin. Following the SEC decision, Bitcoin’s price surpassed the $28,000 mark and was trading above $28,500 on Oct 19. Apart from the SEC’s decision in favor of Bitcoin, Members of Congress are working on new legislation to introduce stricter anti-money laundering regulations for cryptocurrencies.\nThis move comes in response to a Wall Street Journal report last week, following the surprise attack on Israel earlier this month. The report stated that Hamas and the Palestinian Islamic Jihad had received up to $134 million in cryptocurrencies since 2021.\nBitcoin made a solid turnaround this year after a dull 2022. The cryptocurrency was on a rally till July, when its price hit a 52-week-high of $31,500. However, the price has since fallen and hit a low of $24, 500 in late August and September.\nPrices of cryptocurrencies have since been rangebound, but a rebound started again last month after the Fed kept its benchmark policy rate unaltered in its September FOMC meeting to its current range of 5.25-5.25%.\nA higher market interest rate has a negative impact on high-growth sectors such as technology and cryptocurrencies. The Fed’s monetary tightening campaign has also raised worries that the economy might slip into a recession.\nHowever, the Fed has hinted at going for one more 25-basis point hike this year before going for two rate cuts in 2024. Cryptocurrencies are making an attempt to recover from their recent lows, with investors expressing more positive sentiments. This renewed optimism follows the dovish comments from several Federal Reserve officials.\nNVIDIA Corp.is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence and mining or production of cryptocurrencies.\nNVIDIA’s expected earnings growth rate for the current year is 221.6%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 60 days. NVIDIA presently sports a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.\nCoinbase Global, Inc.offers financial infrastructure and technology to support the global cryptocurrency economy. COIN provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment.\nCoinbase Global’s expected earnings growth rate for the current year is 85.2%. The Zacks Consensus Estimate for current-year earnings has improved 2.8% over the last 60 days. Coinbase currently has a Zacks Rank #2.\nBlock Inc.is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors.\nBlock has an expected earnings growth rate of 69% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 60 days. SQ currently carries a Zacks Rank #3 (Hold).\nCME Group Inc.’s options give the buyer of the call/put the right to buy/sell cryptocurrency futures contracts at a specific price at some future date. CME offers bitcoin and ether options based on the exchange's cash-settled standard and micro BTC and ETH futures contracts.\nCME Group’s expected earnings growth rate for the current year is 14.1%. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 60 days. CME presently has a Zacks Rank #2.\nSince 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of+46.4%, +49.5%and+55.2%per year. Today you can access their live picks without cost or obligation.\nSee Stocks Free >>\nMedia Contact\nZacks Investment Research\n800-767-3771 ext. 9339\[email protected]\nhttps://www.zacks.com\nPast performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\nCME Group Inc. (CME) : Free Stock Analysis Report\nNVIDIA Corporation (NVDA) : Free Stock Analysis Report\nBlock, Inc. (SQ) : Free Stock Analysis Report\nCoinbase Global, Inc. (COIN) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research", "For Immediate Release Chicago, IL – October 23, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. NVDA, Coinbase Global, Inc. COIN, Block Inc. SQ and CME Group Inc. CME. Here are highlights from Friday’s Analyst Blog: 4 Stocks to Watch as Bitcoin Makes a Solid Rebound Bitcoin (BTC) is rebounding again after losing sheen somewhat over the past couple of months. The rally started on Oct 16 after the Securities and Exchange Commission (SEC) decided not to appeal its loss against Grayscale Investments in the D.C. Circuit court. This rekindled optimism that the approval of a bitcoin ETF may be on the horizon. This sent Bitcoin and other major cryptocurrencies like Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE) and BNB (BNB) on a rally. Bitcoin Rebounding Again This week has particularly been good for Bitcoin. Following the SEC decision, Bitcoin’s price surpassed the $28,000 mark and was trading above $28,500 on Oct 19. Apart from the SEC’s decision in favor of Bitcoin, Members of Congress are working on new legislation to introduce stricter anti-money laundering regulations for cryptocurrencies. This move comes in response to a Wall Street Journal report last week, following the surprise attack on Israel earlier this month. The report stated that Hamas and the Palestinian Islamic Jihad had received up to $134 million in cryptocurrencies since 2021. Bitcoin made a solid turnaround this year after a dull 2022. The cryptocurrency was on a rally till July, when its price hit a 52-week-high of $31,500. However, the price has since fallen and hit a low of $24, 500 in late August and September. Prices of cryptocurrencies have since been rangebound, but a rebound started again last month after the Fed kept its benchmark policy rate unaltered in its September FOMC meeting to its current range of 5.25-5.25%. Story continues A higher market interest rate has a negative impact on high-growth sectors such as technology and cryptocurrencies. The Fed’s monetary tightening campaign has also raised worries that the economy might slip into a recession. However, the Fed has hinted at going for one more 25-basis point hike this year before going for two rate cuts in 2024. Cryptocurrencies are making an attempt to recover from their recent lows, with investors expressing more positive sentiments. This renewed optimism follows the dovish comments from several Federal Reserve officials. Stocks in Focus NVIDIA Corp. is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence and mining or production of cryptocurrencies. NVIDIA’s expected earnings growth rate for the current year is 221.6%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 60 days. NVIDIA presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here . Coinbase Global, Inc. offers financial infrastructure and technology to support the global cryptocurrency economy. COIN provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment. Coinbase Global’s expected earnings growth rate for the current year is 85.2%. The Zacks Consensus Estimate for current-year earnings has improved 2.8% over the last 60 days. Coinbase currently has a Zacks Rank #2. Block Inc. is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors. Block has an expected earnings growth rate of 69% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 60 days. SQ currently carries a Zacks Rank #3 (Hold). CME Group Inc. ’s options give the buyer of the call/put the right to buy/sell cryptocurrency futures contracts at a specific price at some future date. CME offers bitcoin and ether options based on the exchange's cash-settled standard and micro BTC and ETH futures contracts. CME Group’s expected earnings growth rate for the current year is 14.1%. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 60 days. CME presently has a Zacks Rank #2. Why Haven’t You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CME Group Inc. (CME) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research", 'Ault Alliance Expects $190-$200 Million in Revenue for Full Year 2023 LAS VEGAS, October 23, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), with core interests in crane rental, data center activities, and its technology and finance operations (" Ault Venture Group "), is pleased to report preliminary unaudited third quarter 2023 revenue exceeding $52.5 million. Preliminary unaudited revenues by business segment are as follows: Preliminary Actual Actual Business Segment Q3-2023 Q2-2023 Q3-2022 Circle 8 Newco LLC crane operations $ 12,500,000 $ 12,672,000 $ - Sentinum, Inc. (" Sentinum "): Cryptocurrency mining 7,600,000 8,368,000 4,146,000 Alliance Cloud Services, LLC 300,000 325,000 201,000 Ault Venture Group: Ault Lending, LLC (" Ault Lending ") (100,000 ) 9,525,000 13,360,000 Ault Global Real Estate Equities, Inc. 5,400,000 4,384,000 5,513,000 The Singing Machine Company, Inc. 15,900,000 2,625,000 17,114,000 BitNile Metaverse, Inc. (" BitNile Metaverse ") 18,000 45,000 - Giga-tronics Incorporated (" GIGA ") 9,700,000 8,740,000 7,782,000 Imperalis Holding Corp. d/b/a TurnOnGreen, Inc. 1,200,000 724,000 1,662,000 Total revenue $ 52,518,000 $ 47,408,000 $ 49,778,000 Focus on Cash Flow-Generating Subsidiaries The Company is working diligently to focus on its cash flow-generating subsidiaries. "We’re proud of the performance in our Circle 8 crane operations and our Sentinum data centers. Cash flow is improving, and we have an eye towards future profitability," said Milton "Todd" Ault III, Executive Chairman of Ault Alliance. Sentinum Bitcoin Mining Update The annualized revenue run rate of Sentinum Bitcoin mining is currently approximately $32 million, many times greater than the current market capitalization of Ault Alliance as a whole. The Company is continually perplexed by the market’s inability to value any cash-producing assets within the Company and remains committed to the long-term value of its operations, including its Sentinum Bitcoin mining operations. Story continues Sentinum is currently building out an additional data center site in Montana. Sentinum plans to use the Montana site as a hosting facility for Bitcoin and other cryptocurrency miners. Steady Advancements in Ault Venture Group and Defense Sector The Ault Venture Group holds various public ownerships of companies and anticipates leveraging market opportunities over the next 12 months. GIGA, which does business as Gresham Worldwide, a defense company, reported revenue growth of over 12% from the last quarter. "The defense business, especially our Israeli division, is experiencing robust growth
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-23
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $599,223,761,281
- Hash Rate: 476314710.1590258
- Transaction Count: 301780.0
- Unique Addresses: 660705.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.53
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: This article originally appeared inFirst Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context.Subscribe to get it in your inbox every day.
Bitcoin (BTC) has fallen back below $26,000, losing 0.73% on the day, reflecting generally bearish sentiment among crypto traders and a lack of bullish catalysts to rally markets.BTC fell as low as $25,886 on Monday after rallying briefly last week to $26,200, but has since dropped back close to where it started last week. Institutional crypto exchange LMAX Digital said in a note that bitcoin is getting closer to a breakout from the current range due to how tight the contraction has gotten in recent sessions. “Whenever ranges get too tight, it’s often a warning sign for a surge in volatility,” the exchange said in a note. Etoro analyst Simon Peters said softness in the market is also being seen in other asset classes, such as equities. He said in a morning note that this comes as investors “pay close attention to thediscussions at Jackson Hole…The indication from Wyoming is that central bankers are intent on keeping rates at higher levels to prevent a resurgence in inflation – which is not being taken well by risk assets across the board.”
Digital Currency Group (DCG) hasreachedan in-principle deal with Genesis creditors to resolve the claims brought up in Genesis' bankruptcy, according to a court filing on Tuesday.The plan could result in the recoveries of 70%-90% in USD equivalent for unsecured creditors and 65%-90% recovery on an in-kind basis depending on the denomination of the digital asset. All the estimated recoveries are subject to market pricing and definitive documentation. DCG is also the parent company of CoinDesk.
All of FTX founder’s Sam Bankman-Fried’s proposed witnesses should bedisqualifiedfrom testifying because their disclosure filings are insufficient, their experience may be misleading or their planned testimony may not be relevant, prosecutors said in a late Monday filing.Bankman-Fried’s team, for its part, wants to exclude a financial analysis expert proposed by the Department of Justice because his proposed testimony may not be allowed under the rules. The filings, part of the so-called Daubert motions due Monday, laid out the two teams’ views on why their opponents should not be able to call certain witnesses to the stand when Bankman-Fried goes on trial for fraud and conspiracy charges in a little over a month. The DOJ moved to discount all seven of the expert witnesses proposed by Bankman-Fried’s team, saying that some of the disclosures they filed did not detail their opinions, while others “are inappropriate subjects for expert testimony” or possibly confusing for a potential jury.Trending Posts...
- Reddit Posts (Sample): [['u/genobeam', 'Will You Cash Out During the Next Bull Run?', 200, '2023-10-23 15:18', 'https://www.reddit.com/r/CryptoCurrency/comments/17ek7v3/will_you_cash_out_during_the_next_bull_run/', "The common wisdom in here seems to be DCA into bitcoin for safe returns. My question is when do you realize those returns? \n\nWhat pricepoint for bitcoin would you sell? I've seen estimates on here for 2x-10x as realistic bitcoin targets for the next bull run. \n\nWhat do you expect for the next crypto winter? Will prices return to where we are now? Will the average be higher? lower?\n\nI know this is all speculative, but in the past it seemed that a lot of people here were invested in bitcoin for the long long term. Now I'm getting the impression that more people want to realize their gains when possible, but I wanted to get a better feel for that.\n\n[View Poll](https://www.reddit.com/poll/17ek7v3)", 'https://www.reddit.com/r/CryptoCurrency/comments/17ek7v3/will_you_cash_out_during_the_next_bull_run/', '17ek7v3', [['u/IANvaderZIM', 10, '2023-10-23 17:25', 'https://www.reddit.com/r/CryptoCurrency/comments/17ek7v3/will_you_cash_out_during_the_next_bull_run/k646dw2/', 'Until rollercoaster low, at which point buy back in :)', '17ek7v3']]]]...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['By Brigid Riley\nTOKYO, Oct 24 (Reuters) - The dollar softened against a basket of currencies on Tuesday, mirroring a dip in Treasuries yields as investors awaited key U.S. economic data before the Federal Reserve\'s monetary policy meeting next week.\nThe dollar index last sat around 105.57, having lost over 0.5% in the previous session as U.S. Treasury yields tumbled.\nThe greenback found support last week after Fed Chair Jerome Powell said U.S. economic strength might warrant tighter financial conditions, which pushed the benchmark 10-year yield above 5% to its highest since July 2007.\nBitcoin returned the market spotlight with the virtual currency soaring on speculation that the United States could soon approve a bitcoin exchange-traded fund.\nMarket attention now turns to some of the last bits of U.S. economic data before the Fed\'s meeting on Oct. 31 - Nov. 1, with the flash purchasing managers\' index (PMI) out later on Tuesday and gross domestic product due on Thursday.\nThe PMI data could set the market expectations ahead of the GDP report, said Matt Simpson, senior market analyst at City Index.\n"If the data leans far enough one way it could prompt a strong dollar rally or breakdown with the Fed in a blackout period," he said, referring to the period before the policy meeting in which limits are placed on public communications from central bank officials.\nThe Fed is expected to hold rates at its meeting next week.\nThe European Central Bank is also expected to leave interest rates untouched at their meeting on Thursday, after raising its key interest rates 25 basis points in September.\nThe euro was mostly flat at $1.0665, holding gains against the dollar on Monday.\nMeanwhile, the dollar\'s retreat gave the battered yen some slight relief. The Japanese currency had hit the sensitive 150-level both on Friday and Monday and was last flat against the greenback at 149.77.\nTraders see the 150 threshold as a possible line-in-the-sand for Japanese authorities to intervene in the currency market.\nHowever, the data out of the United States this week could have the yen inching back into the danger zone if it comes in strong.\n"The yen will be particularly sensitive to hot U.S. data, especially if it causes Treasuries to blow through what\'s looking like a key resistance level of 5% or so," said Kyle Rodda, senior financial market analyst at Capital.com.\nIn cryptocurrency markets, bitcoin leapt as much as 14% to a 2-1/2 year high of $34,283.\n(Reporting by Brigid Riley. Editing by Sam Holmes)', 'By Brigid Riley TOKYO, Oct 24 (Reuters) - The dollar softened against a basket of currencies on Tuesday, mirroring a dip in Treasuries yields as investors awaited key U.S. economic data before the Federal Reserve\'s monetary policy meeting next week. The dollar index last sat around 105.57, having lost over 0.5% in the previous session as U.S. Treasury yields tumbled. The greenback found support last week after Fed Chair Jerome Powell said U.S. economic strength might warrant tighter financial conditions, which pushed the benchmark 10-year yield above 5% to its highest since July 2007. Bitcoin returned the market spotlight with the virtual currency soaring on speculation that the United States could soon approve a bitcoin exchange-traded fund. Market attention now turns to some of the last bits of U.S. economic data before the Fed\'s meeting on Oct. 31 - Nov. 1, with the flash purchasing managers\' index (PMI) out later on Tuesday and gross domestic product due on Thursday. The PMI data could set the market expectations ahead of the GDP report, said Matt Simpson, senior market analyst at City Index. "If the data leans far enough one way it could prompt a strong dollar rally or breakdown with the Fed in a blackout period," he said, referring to the period before the policy meeting in which limits are placed on public communications from central bank officials. The Fed is expected to hold rates at its meeting next week. The European Central Bank is also expected to leave interest rates untouched at their meeting on Thursday, after raising its key interest rates 25 basis points in September. The euro was mostly flat at $1.0665, holding gains against the dollar on Monday. Meanwhile, the dollar\'s retreat gave the battered yen some slight relief. The Japanese currency had hit the sensitive 150-level both on Friday and Monday and was last flat against the greenback at 149.77. Traders see the 150 threshold as a possible line-in-the-sand for Japanese authorities to intervene in the currency market. Story continues However, the data out of the United States this week could have the yen inching back into the danger zone if it comes in strong. "The yen will be particularly sensitive to hot U.S. data, especially if it causes Treasuries to blow through what\'s looking like a key resistance level of 5% or so," said Kyle Rodda, senior financial market analyst at Capital.com. In cryptocurrency markets, bitcoin leapt as much as 14% to a 2-1/2 year high of $34,283. (Reporting by Brigid Riley. Editing by Sam Holmes)', 'By Hannah Lang and Kanjyik Ghosh\n(Reuters) - Bitcoin soared 10% to 1-1/2 year highs on Monday, and crypto-linked stocks followed it higher as speculation about the possibility of a bitcoin exchange-traded fund drove enthusiasm about the sector and prompted short-sellers to quit positions.\nThe world\'s biggest cryptocurrency was last at $32,833 after trading as high as $34,283. Crypto-related shares such as exchange Coinbase Global, miner Marathon Digital bitcoin holder MicroStrategy rose sharply and were making further gains in after-hours U.S. trade.\nSmaller rival ether also surged 6%, hitting a two-month high and breaking above its 200-day moving average.\nAnticipation of a bitcoin exchange-traded fund (ETF) has grown after reports this month, including from Reuters, that the U.S. Securities and Exchange Commission won\'t appeal a ruling it was wrong to reject an application from Grayscale Investments.\nThe prospect of a spot bitcoin ETF is seen driving broader flows into the cryptocurrency, as it would allow a wider set of investors to buy exposure without directly trading it.\n"The market is doing its best to front-run the approval of a physical BTC ETF, with consensus being that it will happen some time in the next three months, if not sooner," said Matthew Dibb, CIO at crypto asset manager Astronaut Capital.\nBlackRock, VanEck, WisdomTree, Fidelity, Bitwise and Invesco all have pending bitcoin ETF applications. Blackrock\'s iShares ETF is on a list of ETFs on the website of clearing house DTCC, driving the most recent round of speculation that its approval is imminent.\nIt was not clear when or why the ETF was on the list. DTCC and BlackRock did not immediately respond to requests for comment by phone and email. Last week BlackRock denied an erroneous report that the ETF was approved and sources close to the SEC confirmed the application was still pending.\nThe SEC did not immediately respond to a request for comment emailed after business hours on Monday.\nDibb also pointed to data on cyrptocurrency derivatives analytics platform Coinglass, which showed heavy liquidation of bitcoin short positions in the past 24 hours.\nThe move also comes as concern ripples through the broader markets about the risk of Israel\'s war with the Islamist group Hamas becoming a wider regional conflict.\n"We have seen recent geopolitical tensions drive demand for scarce assets, including both physical gold and bitcoin, which many investors view as digital gold," said Zach Pandl, managing director of research at Grayscale Investments, a crypto asset manager.\n(This story has been corrected to fix the milestone to 1-1/2 year instead of 2-1/2 year in the headline and paragraph 1)\n(Reporting by Hannah Lang in Washington, Kanjyik Ghosh in Bengaluru, Tom Westbrook in Singapore and Brigid Riley in Tokyo; Editing by Krishna Chandra Eluri, Jonathan Oatis & Shri Navaratnam)', 'By Hannah Lang and Kanjyik Ghosh\n(Reuters) - Bitcoin soared 10% to 1-1/2 year highs on Monday, and crypto-linked stocks followed it higher as speculation about the possibility of a bitcoin exchange-traded fund drove enthusiasm about the sector and prompted short-sellers to quit positions.\nThe world\'s biggest cryptocurrency was last at $32,833 after trading as high as $34,283. Crypto-related shares such as exchange Coinbase Global, miner Marathon Digital bitcoin holder MicroStrategy rose sharply and were making further gains in after-hours U.S. trade.\nSmaller rival ether also surged 6%, hitting a two-month high and breaking above its 200-day moving average.\nAnticipation of a bitcoin exchange-traded fund (ETF) has grown after reports this month, including from Reuters, that the U.S. Securities and Exchange Commission won\'t appeal a ruling it was wrong to reject an application from Grayscale Investments.\nThe prospect of a spot bitcoin ETF is seen driving broader flows into the cryptocurrency, as it would allow a wider set of investors to buy exposure without directly trading it.\n"The market is doing its best to front-run the approval of a physical BTC ETF, with consensus being that it will happen some time in the next three months, if not sooner," said Matthew Dibb, CIO at crypto asset manager Astronaut Capital.\nBlackRock, VanEck, WisdomTree, Fidelity, Bitwise and Invesco all have pending bitcoin ETF applications. Blackrock\'s iShares ETF is on a list of ETFs on the website of clearing house DTCC, driving the most recent round of speculation that its approval is imminent.\nIt was not clear when or why the ETF was on the list. DTCC and BlackRock did not immediately respond to requests for comment by phone and email. Last week BlackRock denied an erroneous report that the ETF was approved and sources close to the SEC confirmed the application was still pending.\nThe SEC did not immediately respond to a request for comment emailed after business hours on Monday.\nDibb also pointed to data on cyrptocurrency derivatives analytics platform Coinglass, which showed heavy liquidation of bitcoin short positions in the past 24 hours.\nThe move also comes as concern ripples through the broader markets about the risk of Israel\'s war with the Islamist group Hamas becoming a wider regional conflict.\n"We have seen recent geopolitical tensions drive demand for scarce assets, including both physical gold and bitcoin, which many investors view as digital gold," said Zach Pandl, managing director of research at Grayscale Investments, a crypto asset manager.\n(This story has been corrected to fix the milestone to 1-1/2 year instead of 2-1/2 year in the headline and paragraph 1)\n(Reporting by Hannah Lang in Washington, Kanjyik Ghosh in Bengaluru, Tom Westbrook in Singapore and Brigid Riley in Tokyo; Editing by Krishna Chandra Eluri, Jonathan Oatis & Shri Navaratnam)', 'By Ankur Banerjee\nSINGAPORE, Oct 24 (Reuters) - Asian equities slipped to their lowest in more than 11 months on Tuesday, while the dollar wobbled in cautious trading ahead of a slew of economic data that will provide clues to the next steps from the U.S. Federal Reserve.\nOil prices recovered some of the previous day\'s losses in early Asia trade as nervousness prevailed in the market amid worries that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region.\nMSCI\'s broadest index of Asia-Pacific shares outside Japan was 0.28% lower at 473.37, having touched 472.73 - the lowest since November 2022. The index is down 3% for the month and set for its third consecutive month in the red. Japan\'s Nikkei fell nearly 1%.\nChina shares remained under pressure, with the Shanghai Composite Index 0.32% higher, while Hong Kong\'s Hang Seng Index slid 0.5%.\nChina\'s blue-chip CSI300 Index was 0.2% higher after closing at its lowest level in 4-1/2 years on Monday.\n"The looming spectre of inflation grows even more imposing, especially considering the recent sharp ascent in oil prices," said Dalma Capital Chief Investment Officer Gary Dugan.\n"If oil prices persist at this level throughout the rest of 2023 and into 2024, this could potentially inject another bout of inflation into the global economy."\nOvernight, U.S. stocks wavered to a mixed close on Monday, with investors shifting their focus to this week\'s high profile earnings, including Microsoft, Facebook-parent Meta Platforms and Amazon.\nBeyond earnings, the spotlight will also be on a slate of economic data this week ahead of the Fed\'s meeting on Oct. 31 - Nov. 1.\nThe U.S. Commerce Department on Thursday will announce third-quarter gross domestic product, which is seen accelerating to 4.3%. Its wide-ranging Personal Consumption Expenditures (PCE) report, due on Friday, is expected to show annual headline and core inflation cooling down to 3.4% and 3.7%, respectively.\nBut before that investors will parse through the flash purchasing managers\' index (PMI) data from Britain, France, the Euro zone and the United States due later on Tuesday.\nThe yield on the benchmark 10-year U.S. Treasury note briefly rose above 5.0% on Monday before quickly declining. In Asian hours, the yield was up 1 basis point to 4.848% on Tuesday.\nThe run-up in yields on the 10-year Treasury note, seen as a safe haven in times of economic uncertainty and a benchmark for borrowing costs around the world, has been driven by investors pricing in stronger U.S. growth as well as the need for more bonds to be issued to fund higher government spending.\nIn the currency market, the dollar was soft against a basket of currencies, having dropped 0.5% on Monday. The dollar index was 0.038% lower at 105.56.\nThe yen remained under pressure but found some relief due to dollar\'s retreat. The Japanese currency was last at 149.62 per dollar, having hit the symbolic 150 level on both Friday and Monday.\nIn cryptocurrencies, bitcoin was back in vogue as speculation about the possibility of a bitcoin exchange-traded fund drove enthusiasm about the sector and prompted short-sellers to exit positions.\nThe world\'s biggest cryptocurrency traded as high as $34,283, an 18-month peak, on Monday. It was last up 3% at $34,176 in Asian hours.\n"There is every reason to feel the market has largely discounted a positive decision on a spot ETF," said Chris Weston, head of research at Pepperstone.\n"However, as we\'ve seen over the years there are few markets that promote FOMO (fear of missing out) and traders chasing than Bitcoin and that could drive price towards $35k and beyond."\nIn commodities, U.S. West Texas Intermediate crude futures rose 0.61% to $86.01 per barrel and Brent futures were at $90.41, up 0.65% on the day.\nSpot gold added 0.2% to $1,975.59 an ounce.\n(Editing by Jamie Freed)', 'By Ankur Banerjee SINGAPORE, Oct 24 (Reuters) - Asian equities slipped to their lowest in more than 11 months on Tuesday, while the dollar wobbled in cautious trading ahead of a slew of economic data that will provide clues to the next steps from the U.S. Federal Reserve. Oil prices recovered some of the previous day\'s losses in early Asia trade as nervousness prevailed in the market amid worries that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region. MSCI\'s broadest index of Asia-Pacific shares outside Japan was 0.28% lower at 473.37, having touched 472.73 - the lowest since November 2022. The index is down 3% for the month and set for its third consecutive month in the red. Japan\'s Nikkei fell nearly 1%. China shares remained under pressure, with the Shanghai Composite Index 0.32% higher, while Hong Kong\'s Hang Seng Index slid 0.5%. China\'s blue-chip CSI300 Index was 0.2% higher after closing at its lowest level in 4-1/2 years on Monday. "The looming spectre of inflation grows even more imposing, especially considering the recent sharp ascent in oil prices," said Dalma Capital Chief Investment Officer Gary Dugan. "If oil prices persist at this level throughout the rest of 2023 and into 2024, this could potentially inject another bout of inflation into the global economy." Overnight, U.S. stocks wavered to a mixed close on Monday, with investors shifting their focus to this week\'s high profile earnings, including Microsoft, Facebook-parent Meta Platforms and Amazon. Beyond earnings, the spotlight will also be on a slate of economic data this week ahead of the Fed\'s meeting on Oct. 31 - Nov. 1. The U.S. Commerce Department on Thursday will announce third-quarter gross domestic product, which is seen accelerating to 4.3%. Its wide-ranging Personal Consumption Expenditures (PCE) report, due on Friday, is expected to show annual headline and core inflation cooling down to 3.4% and 3.7%, respectively. Story continues But before that investors will parse through the flash purchasing managers\' index (PMI) data from Britain, France, the Euro zone and the United States due later on Tuesday. The yield on the benchmark 10-year U.S. Treasury note briefly rose above 5.0% on Monday before quickly declining. In Asian hours, the yield was up 1 basis point to 4.848% on Tuesday. The run-up in yields on the 10-year Treasury note, seen as a safe haven in times of economic uncertainty and a benchmark for borrowing costs around the world, has been driven by investors pricing in stronger U.S. growth as well as the need for more bonds to be issued to fund higher government spending. In the currency market, the dollar was soft against a basket of currencies, having dropped 0.5% on Monday. The dollar index was 0.038% lower at 105.56. The yen remained under pressure but found some relief due to dollar\'s retreat. The Japanese currency was last at 149.62 per dollar, having hit the symbolic 150 level on both Friday and Monday. In cryptocurrencies, bitcoin was back in vogue as speculation about the possibility of a bitcoin exchange-traded fund drove enthusiasm about the sector and prompted short-sellers to exit positions. The world\'s biggest cryptocurrency traded as high as $34,283, an 18-month peak, on Monday. It was last up 3% at $34,176 in Asian hours. "There is every reason to feel the market has largely discounted a positive decision on a spot ETF," said Chris Weston, head of research at Pepperstone. "However, as we\'ve seen over the years there are few markets that promote FOMO (fear of missing out) and traders chasing than Bitcoin and that could drive price towards $35k and beyond." In commodities, U.S. West Texas Intermediate crude futures rose 0.61% to $86.01 per barrel and Brent futures were at $90.41, up 0.65% on the day. Spot gold added 0.2% to $1,975.59 an ounce. (Editing by Jamie Freed)', "BTC is trading at its highest level since last May as researchers tip that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.\nOn Oct. 23, Scott Johnson, a finance lawyer,flaggedthat an updated BlackRock filing indicated the firm may move to seed its iShares Bitcoin Trust with cash this month. Eric Balchunas, senior ETF analyst at Bloomberg, said the filing indicates BlackRock expects to launch the fund in the near future.\n“Seeding an ETF is when initial funding is provided… to purchase a few creation units (in this case bitcoin) in exchange for ETF shares which can be traded in [the] open market on day one,” Balchunastweeted. “Seeding is typically not a lot of money, just enough to get [an] ETF going… the fact they doing it and disclosing it shows another step in the process of launching.”\nBalchunas alsonotedthat the ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange. “Again all part of the process of bringing [an] ETF to market,” he said.\nThe filing ignited feverish momentum in the markets, with Bitcoin rallying 15% in 24 hours to tag a local high of $35,000, according to CoinGecko. Other top ten cryptocurrencies are up by between 5% and 8% over the same period.\nBlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similarfilingsfrom rival asset issuers.\nWhile the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving scarcity for the asset’s supply.\nSigns of progress towards the iSHARES Bitcoin Trust’s launch helped to pull the markets out of a multi-month downtrend. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month.\nLast week, an inaccurate tweet from the crypto media outlet, Cointelegraph, falsely claiming BlackRock’s ETF had received regulatory approval, sent Bitcoinflying10% in an hour. However, the markets quickly gave back most of the gains when BlackRock rejected the tweet’s claim shortly after.\nAnalysts at JPMorgan predicted the SEC will approve iSHARES Bitcoin Trust by January 10 — the deadline for its verdict on rival applications from Ark Invest and 21Shares.\nJPMorgan recently said the SEC’s decision not to appeal a recentcourt rulingpermitting Grayscale, a crypto asset manager, to convert its Bitcoin Trust into an ETF indicates a spot Bitcoin ETF approval is likely around the corner. Coinbaseechoedthe same sentiment in an Oct. 20 interview with CNBC.\nTraders are closing the gap between the price of BTC and shares in Gryscale’s Bitcoin Trust in response to the news, with GBTC shares trading an11%discount relative to BTC — its lowest level in two years, according to Ycharts.\nOn Monday, SEC Commissioner Hester Pierce told CNBC she is frustrated that her agency is still yet to approve a Bitcoin ETF thus far.\n“I’ve been thinking we should approve one for the last five years, the logic for why we haven’t has always mystified me,” Piercesaid. “The agency has not been very good when it comes to anything related to Bitcoin or other crypto assets. Every day I hope that they will wake up and they will think ‘You know what, we need to take a more productive approach’.”\nPierce also cautioned investors against trying to predict the SEC’s next move regarding a Bitcoin ETF, comparing the exercise to tea leaf fortune-telling.\n“I can't say whether or not the commission is ready to approve a Bitcoin exchange-traded product,” Pierce continued. “The [Grayscale] court case obviously is an important factor in the landscape, but I can’t guess as to my colleagues’ approach to this topic… Obviously, we are seeing more and more interest from firms in these products, and I hear a lot of interest from investors in these kinds of products as well.”\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "BTC is trading at its highest level since last May as researchers tip that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.\nOn Oct. 23, Scott Johnson, a finance lawyer,flaggedthat an updated BlackRock filing indicated the firm may move to seed its iShares Bitcoin Trust with cash this month. Eric Balchunas, senior ETF analyst at Bloomberg, said the filing indicates BlackRock expects to launch the fund in the near future.\n“Seeding an ETF is when initial funding is provided… to purchase a few creation units (in this case bitcoin) in exchange for ETF shares which can be traded in [the] open market on day one,” Balchunastweeted. “Seeding is typically not a lot of money, just enough to get [an] ETF going… the fact they doing it and disclosing it shows another step in the process of launching.”\nBalchunas alsonotedthat the ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange. “Again all part of the process of bringing [an] ETF to market,” he said.\nThe filing ignited feverish momentum in the markets, with Bitcoin rallying 15% in 24 hours to tag a local high of $35,000, according to CoinGecko. Other top ten cryptocurrencies are up by between 5% and 8% over the same period.\nBlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similarfilingsfrom rival asset issuers.\nWhile the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving scarcity for the asset’s supply.\nSigns of progress towards the iSHARES Bitcoin Trust’s launch helped to pull the markets out of a multi-month downtrend. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month.\nLast week, an inaccurate tweet from the crypto media outlet, Cointelegraph, falsely claiming BlackRock’s ETF had received regulatory approval, sent Bitcoinflying10% in an hour. However, the markets quickly gave back most of the gains when BlackRock rejected the tweet’s claim shortly after.\nAnalysts at JPMorgan predicted the SEC will approve iSHARES Bitcoin Trust by January 10 — the deadline for its verdict on rival applications from Ark Invest and 21Shares.\nJPMorgan recently said the SEC’s decision not to appeal a recentcourt rulingpermitting Grayscale, a crypto asset manager, to convert its Bitcoin Trust into an ETF indicates a spot Bitcoin ETF approval is likely around the corner. Coinbaseechoedthe same sentiment in an Oct. 20 interview with CNBC.\nTraders are closing the gap between the price of BTC and shares in Gryscale’s Bitcoin Trust in response to the news, with GBTC shares trading an11%discount relative to BTC — its lowest level in two years, according to Ycharts.\nOn Monday, SEC Commissioner Hester Pierce told CNBC she is frustrated that her agency is still yet to approve a Bitcoin ETF thus far.\n“I’ve been thinking we should approve one for the last five years, the logic for why we haven’t has always mystified me,” Piercesaid. “The agency has not been very good when it comes to anything related to Bitcoin or other crypto assets. Every day I hope that they will wake up and they will think ‘You know what, we need to take a more productive approach’.”\nPierce also cautioned investors against trying to predict the SEC’s next move regarding a Bitcoin ETF, comparing the exercise to tea leaf fortune-telling.\n“I can't say whether or not the commission is ready to approve a Bitcoin exchange-traded product,” Pierce continued. “The [Grayscale] court case obviously is an important factor in the landscape, but I can’t guess as to my colleagues’ approach to this topic… Obviously, we are seeing more and more interest from firms in these products, and I hear a lot of interest from investors in these kinds of products as well.”\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "BTC is trading at its highest level since last May as researchers tip that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month. On Oct. 23, Scott Johnson, a finance lawyer, flagged that an updated BlackRock filing indicated the firm may move to seed its iShares Bitcoin Trust with cash this month. Eric Balchunas, senior ETF analyst at Bloomberg, said the filing indicates BlackRock expects to launch the fund in the near future. “Seeding an ETF is when initial funding is provided… to purchase a few creation units (in this case bitcoin) in exchange for ETF shares which can be traded in [the] open market on day one,” Balchunas tweeted . “Seeding is typically not a lot of money, just enough to get [an] ETF going… the fact they doing it and disclosing it shows another step in the process of launching.” Balchunas also noted that the ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange. “Again all part of the process of bringing [an] ETF to market,” he said. The filing ignited feverish momentum in the markets, with Bitcoin rallying 15% in 24 hours to tag a local high of $35,000, according to CoinGecko. Other top ten cryptocurrencies are up by between 5% and 8% over the same period. Bitcoin Surges To 17-Month High Amid Spot Bitcoin ETF Progress Bullish Anticipation BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers. While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving scarcity for the asset’s supply. Signs of progress towards the iSHARES Bitcoin Trust’s launch helped to pull the markets out of a multi-month downtrend. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. Story continues Last week, an inaccurate tweet from the crypto media outlet, Cointelegraph, falsely claiming BlackRock’s ETF had received regulatory approval, sent Bitcoin flying 10% in an hour. However, the markets quickly gave back most of the gains when BlackRock rejected the tweet’s claim shortly after. Analysts at JPMorgan predicted the SEC will approve iSHARES Bitcoin Trust by January 10 — the deadline for its verdict on rival applications from Ark Invest and 21Shares. JPMorgan recently said the SEC’s decision not to appeal a recent court ruling permitting Grayscale, a crypto asset manager, to convert its Bitcoin Trust into an ETF indicates a spot Bitcoin ETF approval is likely around the corner. Coinbase echoed the same sentiment in an Oct. 20 interview with CNBC. Traders are closing the gap between the price of BTC and shares in Gryscale’s Bitcoin Trust in response to the news, with GBTC shares trading an 11% discount relative to BTC — its lowest level in two years, according to Ycharts. Bitcoin Surges To 17-Month High Amid Spot Bitcoin ETF Progress SEC Commissioner calls for Bitcoin ETF approval On Monday, SEC Commissioner Hester Pierce told CNBC she is frustrated that her agency is still yet to approve a Bitcoin ETF thus far. “I’ve been thinking we should approve one for the last five years, the logic for why we haven’t has always mystified me,” Pierce said . “The agency has not been very good when it comes to anything related to Bitcoin or other crypto assets. Every day I hope that they will wake up and they will think ‘You know what, we need to take a more productive approach’.” Pierce also cautioned investors against trying to predict the SEC’s next move regarding a Bitcoin ETF, comparing the exercise to tea leaf fortune-telling. “I can't say whether or not the commission is ready to approve a Bitcoin exchange-traded product,” Pierce continued. “The [Grayscale] court case obviously is an important factor in the landscape, but I can’t guess as to my colleagues’ approach to this topic… Obviously, we are seeing more and more interest from firms in these products, and I hear a lot of interest from investors in these kinds of products as well.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "• US stocks traded mixed as investors digested the latest moves in the Treasury market.\n• After surging above 5% early Monday, the 10-year US yield dipped 8 basis points to trade around 4.84%.\n• Meanwhile, investors are waiting on another big week of corporate earnings.\nUS stocks traded mixed Monday as investors assessed intraday swings in the bond market and braced for a wave of incoming corporate earnings.\nAfter briefly topping 5% early Monday morning, the yield on the 10-year US Treasury fell to around 4.84% in the afternoon. That decline allowed stocks to regain some footing.\nStill, investors remain concerned over the prospect of higher-for-longer interest rates in the economy, which have pushed bond yields steadily higher throughout 2023. Investors are pricing in a 97% chance interest rates will stay above 4% by the end of 2024, according to the CME FedWatch tool, which could influence bond yields to remain elevated as well.\nMeanwhile, about 40% of all S&P 500 firms are set to report their results for the past quarter this week. That includes popular mega-cap tech stocks like Alphabet, Microsoft, and Amazon, which have benefited enormously this year amid Wall Street's excitement for AI.\nHere's where US indexes stood at the 4:00 p.m. closing bell on Monday:\n• S&P 500:4,217.04, down 0.17%\n• Dow Jones Industrial Average:32,936.41, down 0.58% (190.87 points)\n• Nasdaq Composite:13,018.33, up 0.27%\nHere's what else happened today:\n• Billionaire investor Bill Ackman says he's no longer betting against US Treasurys, as there's too much risk around the world.\n• Here's the impact soaring bond yields have had on American consumers.\n• Homebuyers are backing out of purchases at the highest rate in a yearas high mortgage rates slam the housing market.\n• Sky-high mortgage rates could soon push home sales to a three-year low, Goldman Sachs warned.\n• The S&P 500 is poised for a 14% rally this year as stocks are flashing signs of being oversold, according to one strategist.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil dipped 2.6% to $85.82 a barrel.Brent crude, the international benchmark, fell 2.28% to $90.06 a barrel.\n• Goldslipped 0.26% to $1,976.35 per ounce.\n• The 10-year Treasury yield slid 7 basis points to 4.85% on Thursday.\n• Bitcoinrose 4.33% to $31,203.63.\nRead the original article onBusiness Insider", "A trader reacts as he watches screens on the floor of the New York Stock Exchange in New York Reuters/Brendan McDermid US stocks traded mixed as investors digested the latest moves in the Treasury market. After surging above 5% early Monday, the 10-year US yield dipped 8 basis points to trade around 4.84%. Meanwhile, investors are waiting on another big week of corporate earnings. US stocks traded mixed Monday as investors assessed intraday swings in the bond market and braced for a wave of incoming corporate earnings. After briefly topping 5% early Monday morning, the yield on the 10-year US Treasury fell to around 4.84% in the afternoon. That decline allowed stocks to regain some footing. Still, investors remain concerned over the prospect of higher-for-longer interest rates in the economy, which have pushed bond yields steadily higher throughout 2023. Investors are pricing in a 97% chance interest rates will stay above 4% by the end of 2024, according to the CME FedWatch tool, which could influence bond yields to remain elevated as well. Meanwhile, about 40% of all S&P 500 firms are set to report their results for the past quarter this week. That includes popular mega-cap tech stocks like Alphabet, Microsoft, and Amazon, which have benefited enormously this year amid Wall Street's excitement for AI. Here's where US indexes stood at the 4:00 p.m. closing bell on Monday: S&P 500 : 4,217.04, down 0.17% Dow Jones Industrial Average : 32,936.41, down 0.58% (190.87 points) Nasdaq Composite : 13,018.33, up 0.27% Here's what else happened today: Billionaire investor Bill Ackman says he's no longer betting against US Treasurys , as there's too much risk around the world. Here's the impact soaring bond yields have had on American consumers . Homebuyers are backing out of purchases at the highest rate in a year as high mortgage rates slam the housing market. Sky-high mortgage rates could soon push home sales to a three-year low , Goldman Sachs warned. The S&P 500 is poised for a 14% rally this year as stocks are flashing signs of being oversold , according to one strategist. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil dipped 2.6% to $85.82 a barrel. Brent crude , the international benchmark, fell 2.28% to $90.06 a barrel. Gold slipped 0.26% to $1,976.35 per ounce. The 10-year Treasury yield slid 7 basis points to 4.85% on Thursday. Bitcoin rose 4.33% to $31,203.63. Read the original article on Business Insider", "Investing.com -- Tech giants Microsoft and Alphabet (NASDAQ:GOOGL) lead the earnings slate later in the session Tuesday, while Bitcoin soared in anticipation of the approval of an ETF in the U.S.. European PMI data pointed to a region heading towards recession, offering the potential for downside surprises in the U.S. equivalent. 1. Microsoft and Alphabet lead earnings deluge The week’s deluge of major tech earnings starts later Tuesday, with results due from both Microsoft and Google-parent Alphabet after the closing bell. Microsoft (NASDAQ:MSFT) is expected to report earnings per share of $2.65 on revenue of $54.5 billion, and investors will be looking more for updates since it closed its deal for Activision Blizzard (NASDAQ:ATVI). There will also be a big focus on whether the software giant’s big bet on artificial intelligence is paying off at its cloud-computing unit. Microsoft announced on Monday that it will spend A$5 billion ($3.2 billion) expanding its artificial intelligence and cloud computing abilities in Australia over two years. Alphabet (NASDAQ:GOOG) is expected to offer up earnings of $1.45 a share on revenue of $75.9 billion, with investors looking for fresh evidence on the current state of the digital advertising environment. Alphabet is likely to benefit from its strong cloud division, adding substantial revenue growth, while expanding data centers will continue to bolster its presence in the cloud space. 2. Futures edge higher ahead of key tech earnings U.S. stock futures edged higher Tuesday, with investors focusing on earnings reports from a number of the very influential tech companies. At 04:40 ET (08:40 GMT), the Dow futures contract climbed 30 points or 0.1%, S&P 500 futures rose by 8 points or 0.2% and Nasdaq 100 futures climbed by 55 points or 0.4%. The major indices traded in a mixed fashion on Monday, as the benchmark 10-year U.S. Treasury yield traded above the closely followed 5% level before falling back. The broad-based S&P 500 fell 0.2% and the blue chip Dow Jones Industrial Average fell 0.6%, while the tech-heavy Nasdaq Composite rose 0.3%. Story continues Federal Reserve officials have suggested in recent days that higher bond yields could have the same effect as interest rate increases in helping to cool the economy, and the central bank is widely expected to hold rates steady next week. The earnings season kicks into top gear this week, with around 30% of S&P 500 companies slated to report. Earnings due from tech giants Microsoft and Alphabet are the highlight of today’s session [see above], but there are also numbers from the likes of Coca-Cola (NYSE:KO), Spotify (NYSE:SPOT) and General Motors (NYSE:GM) to study. About 17% of S&P 500 companies have already reported earnings, and three-quarters of them have posted earnings surpassing analysts’ expectations, according to FactSet. 3. Bitcoin soars on ETF speculation Bitcoin, the largest cryptocurrency by market capitalization, continued to surge in early trade Tuesday on speculation that an exchange-traded Bitcoin fund is imminent. By 04.40 ET, Bitcoin soared 11% to $34,166, having earlier climbed as high as $35,199, its highest level since May 2022. It surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. The U.S. Securities and Exchange Commission has been very slow in accepting Bitcoin ETF applications, but speculation is growing that approval is coming after a court ruling that the regulator had been wrong to reject an ETF application from Grayscale Investments. Numerous reports have emerged this month indicating that the SEC, the country’s gatekeeper, won't appeal the ruling. Trillions of dollars in institutional money are waiting to enter Bitcoin once an ETF is approved, according to Ernst&Young’s global blockchain leader Paul Brody, in an interview on Monday. “Any of these other institutional funds, they can’t touch this stuff unless it’s an ETF or some other kind of regulatory blessed activity,” he said. 4. PMI data point to economic slowdown The economic data slate centers around the release of flash PMIs in Europe and the United States, which will provide clues on the economic picture ahead of the European Central Bank’s policy-setting meeting later this week, and then the Federal Reserve’s get together next week. The U.S. composite Purchasing Managers' Index came in at 50.2 in September, suggesting economic growth largely stagnated. With crude prices rising since then, growth could slow as we head into the fourth quarter. The news from Europe wasn’t encouraging, as business activity in Germany, the eurozone’s dominant economy, contracted for a fourth straight month in October, suggesting a recession is well underway. The German composite PMI fell to 45.8 in October from September's 46.4, below the 50 level that points to a contraction in business activity. There was a similar story with the data for the eurozone as a whole, with the region’s composite PMI falling to 46.5 in October, down from 47.2 the prior month. This was the lowest reading since November 2020, and outside of the COVID-19 pandemic months it was the weakest since March 2013. 5. Crude edges lower with Gaza in spotlight Crude prices edged lower Tuesday, handing back early gains as traders continued to fixate on developments in the Israel-Hamas war and the potential wider conflict in this important oil-exporting region. By 04:40 ET, the U.S. crude futures traded 0.3% lower at $85.20 a barrel, while the Brent contract dropped 0.3% to $89.59 a barrel. The benchmarks tumbled around 3% on Monday as a series of diplomatic missions to Israel and Gaza pushed up hopes over a deescalation in the conflict. This was also accompanied by Hamas agreeing to free some hostages. However, Israel continued its bombardment of Gaza on Monday, and the situation remains highly fluid with the market seemingly divided over whether the conflict will continue to ease from here or flare up again. The American Petroleum Institute industry group releases its latest estimate of U.S. inventories later in the session, and crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell. The official data from the Energy Information Administration , the statistical arm of the U.S. Department of Energy, is due on Wednesday. Related Articles Microsoft, Alphabet earnings, Bitcoin, PMI data - what's moving markets Argentina's Massa, Milei battle to woo 9 million swing votes Singapore central bank consults on regulatory structure for fund managers", "Investing.com -- Tech giants Microsoft and Alphabet (NASDAQ:GOOGL) lead the earnings slate later in the session Tuesday, while Bitcoin soared in anticipation of the approval of an ETF in the U.S.. European PMI data pointed to a region heading towards recession, offering the potential for downside surprises in the U.S. equivalent. 1. Microsoft and Alphabet lead earnings deluge The week’s deluge of major tech earnings starts later Tuesday, with results due from both Microsoft and Google-parent Alphabet after the closing bell. Microsoft (NASDAQ:MSFT) is expected to report earnings per share of $2.65 on revenue of $54.5 billion, and investors will be looking more for updates since it closed its deal for Activision Blizzard (NASDAQ:ATVI). There will also be a big focus on whether the software giant’s big bet on artificial intelligence is paying off at its cloud-computing unit. Microsoft announced on Monday that it will spend A$5 billion ($3.2 billion) expanding its artificial intelligence and cloud computing abilities in Australia over two years. Alphabet (NASDAQ:GOOG) is expected to offer up earnings of $1.45 a share on revenue of $75.9 billion, with investors looking for fresh evidence on the current state of the digital advertising environment. Alphabet is likely to benefit from its strong cloud division, adding substantial revenue growth, while expanding data centers will continue to bolster its presence in the cloud space. 2. Futures edge higher ahead of key tech earnings U.S. stock futures edged higher Tuesday, with investors focusing on earnings reports from a number of the very influential tech companies. At 04:40 ET (08:40 GMT), the Dow futures contract climbed 30 points or 0.1%, S&P 500 futures rose by 8 points or 0.2% and Nasdaq 100 futures climbed by 55 points or 0.4%. The major indices traded in a mixed fashion on Monday, as the benchmark 10-year U.S. Treasury yield traded above the closely followed 5% level before falling back. The broad-based S&P 500 fell 0.2% and the blue chip Dow Jones Industrial Average fell 0.6%, while the tech-heavy Nasdaq Composite rose 0.3%. Story continues Federal Reserve officials have suggested in recent days that higher bond yields could have the same effect as interest rate increases in helping to cool the economy, and the central bank is widely expected to hold rates steady next week. The earnings season kicks into top gear this week, with around 30% of S&P 500 companies slated to report. Earnings due from tech giants Microsoft and Alphabet are the highlight of today’s session [see above], but there are also numbers from the likes of Coca-Cola (NYSE:KO), Spotify (NYSE:SPOT) and General Motors (NYSE:GM) to study. About 17% of S&P 500 companies have already reported earnings, and three-quarters of them have posted earnings surpassing analysts’ expectations, according to FactSet. 3. Bitcoin soars on ETF speculation Bitcoin, the largest cryptocurrency by market capitalization, continued to surge in early trade Tuesday on speculation that an exchange-traded Bitcoin fund is imminent. By 04.40 ET, Bitcoin soared 11% to $34,166, having earlier climbed as high as $35,199, its highest level since May 2022. It surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. The U.S. Securities and Exchange Commission has been very slow in accepting Bitcoin ETF applications, but speculation is growing that approval is coming after a court ruling that the regulator had been wrong to reject an ETF application from Grayscale Investments. Numerous reports have emerged this month indicating that the SEC, the country’s gatekeeper, won't appeal the ruling. Trillions of dollars in institutional money are waiting to enter Bitcoin once an ETF is approved, according to Ernst&Young’s global blockchain leader Paul Brody, in an interview on Monday. “Any of these other institutional funds, they can’t touch this stuff unless it’s an ETF or some other kind of regulatory blessed activity,” he said. 4. PMI data point to economic slowdown The economic data slate centers around the release of flash PMIs in Europe and the United States, which will provide clues on the economic picture ahead of the European Central Bank’s policy-setting meeting later this week, and then the Federal Reserve’s get together next week. The U.S. composite Purchasing Managers' Index came in at 50.2 in September, suggesting economic growth largely stagnated. With crude prices rising since then, growth could slow as we head into the fourth quarter. The news from Europe wasn’t encouraging, as business activity in Germany, the eurozone’s dominant economy, contracted for a fourth straight month in October, suggesting a recession is well underway. The German composite PMI fell to 45.8 in October from September's 46.4, below the 50 level that points to a contraction in business activity. There was a similar story with the data for the eurozone as a whole, with the region’s composite PMI falling to 46.5 in October, down from 47.2 the prior month. This was the lowest reading since November 2020, and outside of the COVID-19 pandemic months it was the weakest since March 2013. 5. Crude edges lower with Gaza in spotlight Crude prices edged lower Tuesday, handing back early gains as traders continued to fixate on developments in the Israel-Hamas war and the potential wider conflict in this important oil-exporting region. By 04:40 ET, the U.S. crude futures traded 0.3% lower at $85.20 a barrel, while the Brent contract dropped 0.3% to $89.59 a barrel. The benchmarks tumbled around 3% on Monday as a series of diplomatic missions to Israel and Gaza pushed up hopes over a deescalation in the conflict. This was also accompanied by Hamas agreeing to free some hostages. However, Israel continued its bombardment of Gaza on Monday, and the situation remains highly fluid with the market seemingly divided over whether the conflict will continue to ease from here or flare up again. The American Petroleum Institute industry group releases its latest estimate of U.S. inventories later in the session, and crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell. The official data from the Energy Information Administration , the statistical arm of the U.S. Department of Energy, is due on Wednesday. Related Articles Microsoft, Alphabet earnings, Bitcoin, PMI data - what's moving markets Argentina's Massa, Milei battle to woo 9 million swing votes Singapore central bank consults on regulatory structure for fund managers", "Investing.com -- Tech giants Microsoft and Alphabet (NASDAQ:GOOGL) lead the earnings slate later in the session Tuesday, while Bitcoin soared in anticipation of the approval of an ETF in the U.S.. European PMI data pointed to a region heading towards recession, offering the potential for downside surprises in the U.S. equivalent. 1. Microsoft and Alphabet lead earnings deluge The week’s deluge of major tech earnings starts later Tuesday, with results due from both Microsoft and Google-parent Alphabet after the closing bell. Microsoft (NASDAQ:MSFT) is expected to report earnings per share of $
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-24
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $666,405,231,062
- Hash Rate: 382265308.7900461
- Transaction Count: 373854.0
- Unique Addresses: 755204.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.66
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Back to the desk from a late summer break, it’s a good time for a quick year-to-date performance scan across the digital asset markets (see Figure 1 below). Overall, bitcoin ( BTC ) has clearly been setting the mood for 2023, as proxied by the CoinDesk Markets Index (CMI), and it feels like the majority of broad crypto market-moving headlines over the past few months can be placed within the bucket of the ongoing saga towards a bitcoin spot ETF. Figure 1: Digital asset market performance in 2023. Source: coindeskmarkets.com . You’re reading Crypto Long & Short , our weekly newsletter featuring insights, news and analysis for the professional investor. Sign up here to get it in your inbox every Wednesday. To better understand the context behind the crypto market’s focus on a spot ETF, it’s useful to draw some useful historical parallels to the creation of gold ETFs and their impact on the gold market. Like gold ETFs, a bitcoin ETF would make it significantly easier for a broader range of investors to gain exposure to bitcoin. It eliminates the need for investors to directly buy and store bitcoin. While this difficulty did not discourage early adopters, it can be a complex and daunting process for many (i.e., imagine walking a grandparent through the cold storage process). Fun fact: Before the first gold ETF was launched, investors could invest in clunkier closed-end funds, gold companies like miners or lug around the actual shiny metal. With an ETF, investor demand for gold increased. A bitcoin spot ETF could do likewise, leading to a surge in buying by retail investors who aren’t currently in the Grayscale Bitcoin Trust (GBTC) or one of the bitcoin futures ETFs like the one from ProShares (BITO). Related to the increased accessibility would be an increase in liquidity and trading volume in the bitcoin market. Increased liquidity and further diversifying the asset’s investor base could help stabilize prices and reduce price volatility caused by illiquid market conditions. This could also shift the investor base from tech-savvy retail investors and crypto enthusiasts to more mainstream, longer-term real asset investors looking for diversification from fiat currencies. The launch of a bitcoin ETF could catalyze further institutional adoption of bitcoin, as it would delegate the acquisition and storage of the digital asset to qualified custodians. An ETF structure also provides a more familiar and regulated investment vehicle that institutional investors are comfortable using, which could lead to more hedge funds, asset managers and pension funds allocating capital to bitcoin. Story continues Just as the gold ETF made it easier for investors to add additional diversification to their portfolios, a bitcoin ETF could serve a similar purpose. Investors looking to diversify their portfolios may allocate some of their assets to bitcoin through the ETF, viewing it as a store of value or an uncorrelated asset class. This addition of bitcoin to a greater number of investor portfolios would likely be small in percentage terms due to the relatively young and volatile nature of the asset class, but it would still result in a meaningful flow of capital into the cryptocurrency asset class. In summary, the introduction of a bitcoin ETF could be seen as a sign of the market's maturation. It signals that bitcoin is evolving from a niche asset class to one accepted and regulated within the traditional financial system. Takeaways From CoinDesk Deputy Editor-in-Chief Nick Baker , here is some news worth reading: SBF’S PARENTS: It’s no secret that Sam Bankman-Fried’s personal inner circle overlapped with this business inner circle. CoinDesk very much addressed that theme last year when it reported that SBF lived with some of his top executives, including ex-girlfriend Caroline Ellison, who ran his trading shop Alameda Research. And it’s been long-discussed how significant a role his parents played. The folks restructuring FTX just asserted they played a large role and sued them . Within the case is an eye-catching scene involving SBF’s dad acting exasperated with his son and saying he’s going to pull his mom into the situation. It wasn’t a normal family squabble over a curfew or whatever. It was Joe Bankman being angry that SBF was only paying his dad $200,000 a year, not $1 million. He wrote: “Gee, Sam I don’t know what to say here … Putting [your mom] on this.” Everyone who has parents feels this one. Relatedly, here’s CoinDesk’s Daniel Kuhn arguing SBF is blaming everyone but himself for FTX’s spectacular failure. MORE TO COME: U.S. officials going after Coinbase and Binance earlier this year was scary enough for everybody in crypto. But CoinDesk’s Jesse Hamilton reported this week on foreboding new comments from the head of the Crypto Assets and Cyber Unit at the Securities and Exchange Commission. In Hamilton’s words , David Hirsch said the SEC “isn’t done chasing down crypto exchanges and decentralized finance (DeFi) projects it sees as violating securities laws in the same vein” as Coinbase and Binance. To state the obvious: This is not the sort of regulatory clarity crypto folks were hoping for. SHARP DROP: As Binance continues to face scrutiny from regulators and maybe law enforcement officials, its business is shrinking. Its seven-day average trading volume has dwindled by 57% since the beginning of September. And this appears to be specific to Binance, as the data from K33 Research shows volumes on other exchanges have been mostly flat. “The ongoing [U.S. Department of Justice] and SEC cases versus Binance may have dissuaded market makers from trading on Binance, explaining parts of the decline,” K33 Research senior analyst Vetle Lunde said. View comments...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['By Rae Wee SINGAPORE, Oct 25 (Reuters) - The dollar was on the front foot on Wednesday, drawing support from yet another resilient U.S. economic data reading, while the euro struggled to make headway on the back of a darkening growth outlook in the bloc. The Australian dollar rose more than 0.5% in an initial knee-jerk reaction following a higher-than-expected inflation print in Australia on Wednesday. U.S. business output ticked higher in October as the manufacturing sector pulled out of a five-month contraction, data on Tuesday showed, while separate data released the same day showed the euro zone\'s business activity in contrast took a surprise turn for the worse this month. Against the dollar, the euro was last 0.05% higher at $1.0595, having declined 0.75% on Tuesday. The single currency\'s slide lifted the dollar index and it last steadied at 106.23, away from a one-month low of 105.35 hit in the previous session. The euro is the most heavily weighted currency in the dollar index, which measures the greenback against a basket of six peers. "The euro zone economy is kind of entering a recession, so this economic playout stiffens expectations that the European Central Bank might have (reached a) peak in interest rates," said Tina Teng, market analyst at CMC Markets. "By contrast, the U.S. Federal Reserve could continue to raise interest rates just because the economic data looks strong." The buoyant dollar kept the yen pinned near the closely watched 150 threshold, with the Japanese currency last at 149.86 per dollar, having mostly traded sideways over the past month and keeping traders on their toes for any signs of intervention by Japanese authorities. Pressure is mounting on the Bank of Japan to change its bond yield control as global interest rates rise. A hike to an existing yield cap set just three months ago is being discussed as a possibility in the run up to next week\'s policy meeting, sources said earlier this week. Story continues Elsewhere, sterling rose 0.04% to $1.2165, while the New Zealand dollar gained 0.08% to $0.5849. The Australian dollar was last 0.35% higher at $0.6378. "The (Reserve Bank of Australia\'s) November meeting is likely to be live, and the cash rate to be hiked to 4.35%. And I suspect it will be a hawkish hike," said Matt Simpson, senior market analyst at City Index. In cryptocurrencies, Bitcoin was last 0.28% lower at $33,822, holding near a roughly 18-month high hit on Tuesday. The world\'s largest cryptocurrency has been on a tear this week, having surged 10% on Monday, fuelled by mounting speculation that an exchange-traded bitcoin fund is imminent. "A growing spot ETF market would invariably mean a growing market across most of the cryptocurrency landscape," said John Glover, chief investment officer at crypto lender Ledn. "If Bitcoin is being purchased for ETFs, the price will rise ... there is a very real possibility that the launch of one or more spot ETFs could lead to the next major bull run in the entire cryptocurrency ecosystem." (Reporting by Rae Wee; Editing by Lincoln Feast.)', 'By Rae Wee\nSINGAPORE, Oct 25 (Reuters) - The dollar was on the front foot on Wednesday, drawing support from yet another resilient U.S. economic data reading, while the euro struggled to make headway on the back of a darkening growth outlook in the bloc.\nThe Australian dollar rose more than 0.5% in an initial knee-jerk reaction following a higher-than-expected inflation print in Australia on Wednesday.\nU.S. business output ticked higher in October as the manufacturing sector pulled out of a five-month contraction, data on Tuesday showed, while separate data released the same day showed the euro zone\'s business activity in contrast took a surprise turn for the worse this month.\nAgainst the dollar, the euro was last 0.05% higher at $1.0595, having declined 0.75% on Tuesday.\nThe single currency\'s slide lifted the dollar index and it last steadied at 106.23, away from a one-month low of 105.35 hit in the previous session.\nThe euro is the most heavily weighted currency in the dollar index, which measures the greenback against a basket of six peers.\n"The euro zone economy is kind of entering a recession, so this economic playout stiffens expectations that the European Central Bank might have (reached a) peak in interest rates," said Tina Teng, market analyst at CMC Markets.\n"By contrast, the U.S. Federal Reserve could continue to raise interest rates just because the economic data looks strong."\nThe buoyant dollar kept the yen pinned near the closely watched 150 threshold, with the Japanese currency last at 149.86 per dollar, having mostly traded sideways over the past month and keeping traders on their toes for any signs of intervention by Japanese authorities.\nPressure is mounting on the Bank of Japan to change its bond yield control as global interest rates rise. A hike to an existing yield cap set just three months ago is being discussed as a possibility in the run up to next week\'s policy meeting, sources said earlier this week.\nElsewhere, sterling rose 0.04% to $1.2165, while the New Zealand dollar gained 0.08% to $0.5849.\nThe Australian dollar was last 0.35% higher at $0.6378.\n"The (Reserve Bank of Australia\'s) November meeting is likely to be live, and the cash rate to be hiked to 4.35%. And I suspect it will be a hawkish hike," said Matt Simpson, senior market analyst at City Index.\nIn cryptocurrencies, Bitcoin was last 0.28% lower at $33,822, holding near a roughly 18-month high hit on Tuesday.\nThe world\'s largest cryptocurrency has been on a tear this week, having surged 10% on Monday, fuelled by mounting speculation that an exchange-traded bitcoin fund is imminent.\n"A growing spot ETF market would invariably mean a growing market across most of the cryptocurrency landscape," said John Glover, chief investment officer at crypto lender Ledn.\n"If Bitcoin is being purchased for ETFs, the price will rise ... there is a very real possibility that the launch of one or more spot ETFs could lead to the next major bull run in the entire cryptocurrency ecosystem."\n(Reporting by Rae Wee; Editing by Lincoln Feast.)', 'By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose to a near 1-week high against a basket of currencies on Wednesday, as investors\' appetite for riskier currencies faded following lacklustre corporate results that raised worries over the economic outlook, and as Treasury yields rose. Risk sentiment took a hit as tech giant Alphabet slumped after its cloud division missed revenue estimates, while other mega-cap stocks also edged lower, pressured by rising U.S. Treasury yields. The dollar index, which measures its strength against a basket of six rivals, was 0.3% higher at 106.5, its highest level in nearly a week. "I think it is mainly a risk backdrop story," said Shaun Osborne, chief foreign exchange strategist at Scotiabank in Toronto. "Weak risk appetite seems to be driving broad USD gains. Benchmark U.S. 10-year Treasury yields inched higher, resuming a move toward a 16-year peak of 5.0% briefly breached on Monday. The 10-year yield was last at 4.9506%. Global financial markets have been gripped by a surge in U.S. bond yields, which helped drive the dollar index to its highest in almost a year earlier this month. Analysts, however, see limited room for yields and the dollar to extend gains. "My inclination is to look at these gains as an opportunity to fade some of the dollar strength against certain currencies," Scotiabank\'s Osborne said. Data on Wednesday showed sales of new U.S. single-family homes surged to a 19-month high in September as the annual median house price dropped by the most since 2009 amid discounts offered by builders to woo buyers, but mortgage rates flirting with 8% could curb demand. Elsewhere, the Australian dollar jumped on Wednesday after a surprisingly high reading for inflation stoked speculation about a further hike in interest rates and slugged bond futures. But it erased all those gains to trade down 0.74% on the day. [AUD/] "The interesting thing about Australia is that a lot of other central banks are in a very similar position. They have paused, the market\'s hoping that will be it, but everyone is on tenterhooks hoping that inflation will remain well behaved, and in the case of Australia it has not," said Jane Foley, head of FX strategy at Rabobank. Story continues The Canadian dollar weakened against its U.S. counterpart after the Bank of Canada held its key overnight rate at 5.0%, as expected, and forecast weak growth while leaving the door open to more rate hikes to tame inflation that could stay above target for another two years. The U.S. dollar was last up 0.41% against the Canadian currency. The dollar also kept the yen pinned near the closely watched 150 threshold, with the Japanese currency last at 149.99 per dollar, with traders alert for any signs of intervention by Japanese authorities. Pressure is mounting on the Bank of Japan to change its bond yield control as global interest rates rise. A hike to an existing yield cap set just three months ago is being discussed as a possibility in the run-up to next week\'s policy meeting, Reuters cited sources as saying this week. "There is a decent chance there will be a another tweak to yield curve control," said Foley. "If we don\'t see that, it is quite possible that we will see the other side of 150 quite soon." In cryptocurrencies, Bitcoin was last up 1.83% at $34,539, holding near a roughly 18-month high hit on Tuesday. The world\'s largest cryptocurrency is up about 15% for the week, fuelled by speculation that an exchange-traded bitcoin fund is imminent. (Reporting by Saqib Iqbal Ahmed; Additional reporting by Rae Wee in Singapore and Alun John in London; Editing by Simon Cameron-Moore, Mark Potter, Mike Harrison and Diane Craft)', '* Hang Seng up 2% on China bond issue and Huijin signal * AUD hits $0.64 as inflation surprise follows hawkish RBA turn * Bitcoin roused from slumber, up 15% in three days By Tom Westbrook SINGAPORE, Oct 25 (Reuters) - China led Asia\'s stock markets higher on Wednesday as investors cheered the approval of a trillion-yuan sovereign bond issue as a harbinger of stimulus, while the Aussie dollar hit a two-week high as hotter-than-expected inflation lifted rate forecasts. MSCI\'s broadest index of Asia-Pacific shares outside Japan rose 0.9% and the Hang Seng 2%. Japan\'s Nikkei rose 1.1%. Bonds have held onto a bounce-back after the 10-year Treasury yield breached 5% on Monday, with the benchmark yield firm at 4.82% in Tokyo trade. Overnight solid earnings and U.S. economic data lifted Wall Street indexes, while oil and the euro had dropped on weaker-than-forecast purchasing managers surveys on the continent. U.S. and European stock futures were steady in early Asia trade. China\'s top parliament approved a 1 trillion yuan ($137 billion) bond issue, state media reported adding the funds would be spent rebuilding disaster zones and improving infrastructure. Also helping the mood was state-owned investment company Central Huijin announcing it was buying exchange-traded funds, a move which has sparked strong rallies in the past. "Government expenditure will help the economy to stabilise further and strengthen growth in the fourth quarter," said Steven Leung, executive director of institutional sales at broker UOB Kay Hian in Hong Kong. Central Huijin promising ETF purchases drove rallies of more than 20% in 2013 and 2015, according to UOB, and Leung said the signal had given a strong boost to sentiment. China\'s blue-chip CSI300 index, which had been pinned near four-year lows, bounced 1%. HIKE LOOMS DOWN UNDER In currency markets, the euro made its steepest drop for two weeks overnight, falling 0.7% after the euro zone composite PMI fell deeper into contractionary territory to its lowest in three years. Investors pulled forward European rate cut expectations a little and the euro was nursing losses at $1.0594. The yen was pinned at 149.85 and the Australian dollar was the standout gainer, rising 0.6% to a two-week high of $0.64. The annual pace of inflation in Australia slowed in the third quarter, but at 5.4% was above forecasts of 5.3%. Pricing for the odds on a rate hike next month shot to 60% from 35% before the data. "Given the hawkish rhetoric from the RBA over the past two weeks and an uncomfortably high Q3 CPI outcome, we now expect the RBA to increase the cash rate by 25bp in November to 4.35%," ANZ analysts said in a note. Story continues Oil fell in commodity trade on Tuesday, thanks to the weak economic data from Europe, and was nursing losses on Wednesday. Brent crude futures were steady at $88.13 a barrel, unwinding gains made in the wake of conflict in the Middle East. "I think commodity markets are recalibrating the geopolitical implications in the Middle East ... more decisive drivers are needed for a clear direction," said Glenn Yin, head of research at AETOS Capital Group in Melbourne. The United States and Russia were among several nations pushing for a pause in fighting between Israel and Hamas to allow aid into the besieged Gaza Strip. After touching $1,997 an ounce last week, spot gold traded at $1,973. Bitcoin, meanwhile, seems to have awoken from long hibernation during the so-called "winter" that followed numerous scandals including the collapse of exchange FTX. It\'s up 15% this week mostly thanks to speculation that exchange-traded fund applications from BlackRock and others will succeed and drive capital into the asset class. Bitcoin last bought $34,340. The U.S. Securities and Exchange Commission has declined to comment on the speculation. ($1 = 7.3090 Chinese yuan) (Editing by Lincoln Feast.) View comments', '*\nHang Seng up 2% on China bond issue and Huijin signal\n*\nAUD hits $0.64 as inflation surprise follows hawkish RBA turn\n*\nBitcoin roused from slumber, up 15% in three days\nBy Tom Westbrook\nSINGAPORE, Oct 25 (Reuters) - China led Asia\'s stock markets higher on Wednesday as investors cheered the approval of a trillion-yuan sovereign bond issue as a harbinger of stimulus, while the Aussie dollar hit a two-week high as hotter-than-expected inflation lifted rate forecasts.\nMSCI\'s broadest index of Asia-Pacific shares outside Japan rose 0.9% and the Hang Seng 2%. Japan\'s Nikkei rose 1.1%.\nBonds have held onto a bounce-back after the 10-year Treasury yield breached 5% on Monday, with the benchmark yield firm at 4.82% in Tokyo trade.\nOvernight solid earnings and U.S. economic data lifted Wall Street indexes, while oil and the euro had dropped on weaker-than-forecast purchasing managers surveys on the continent. U.S. and European stock futures were steady in early Asia trade.\nChina\'s top parliament approved a 1 trillion yuan ($137 billion) bond issue, state media reported adding the funds would be spent rebuilding disaster zones and improving infrastructure.\nAlso helping the mood was state-owned investment company Central Huijin announcing it was buying exchange-traded funds, a move which has sparked strong rallies in the past.\n"Government expenditure will help the economy to stabilise further and strengthen growth in the fourth quarter," said Steven Leung, executive director of institutional sales at broker UOB Kay Hian in Hong Kong.\nCentral Huijin promising ETF purchases drove rallies of more than 20% in 2013 and 2015, according to UOB, and Leung said the signal had given a strong boost to sentiment.\nChina\'s blue-chip CSI300 index, which had been pinned near four-year lows, bounced 1%.\nHIKE LOOMS DOWN UNDER\nIn currency markets, the euro made its steepest drop for two weeks overnight, falling 0.7% after the euro zone composite PMI fell deeper into contractionary territory to its lowest in three years.\nInvestors pulled forward European rate cut expectations a little and the euro was nursing losses at $1.0594.\nThe yen was pinned at 149.85 and the Australian dollar was the standout gainer, rising 0.6% to a two-week high of $0.64.\nThe annual pace of inflation in Australia slowed in the third quarter, but at 5.4% was above forecasts of 5.3%. Pricing for the odds on a rate hike next month shot to 60% from 35% before the data.\n"Given the hawkish rhetoric from the RBA over the past two weeks and an uncomfortably high Q3 CPI outcome, we now expect the RBA to increase the cash rate by 25bp in November to 4.35%," ANZ analysts said in a note.\nOil fell in commodity trade on Tuesday, thanks to the weak economic data from Europe, and was nursing losses on Wednesday. Brent crude futures were steady at $88.13 a barrel, unwinding gains made in the wake of conflict in the Middle East.\n"I think commodity markets are recalibrating the geopolitical implications in the Middle East ... more decisive drivers are needed for a clear direction," said Glenn Yin, head of research at AETOS Capital Group in Melbourne.\nThe United States and Russia were among several nations pushing for a pause in fighting between Israel and Hamas to allow aid into the besieged Gaza Strip.\nAfter touching $1,997 an ounce last week, spot gold traded at $1,973. Bitcoin, meanwhile, seems to have awoken from long hibernation during the so-called "winter" that followed numerous scandals including the collapse of exchange FTX.\nIt\'s up 15% this week mostly thanks to speculation that exchange-traded fund applications from BlackRock and others will succeed and drive capital into the asset class. Bitcoin last bought $34,340.\nThe U.S. Securities and Exchange Commission has declined to comment on the speculation. ($1 = 7.3090 Chinese yuan)\n(Editing by Lincoln Feast.)', 'By Lawrence Delevingne (Reuters) -Stocks slipped on Wednesday after the latest round of earnings prompted concern among investors over the economic outlook, adding to the angst over painfully high interest rates, while benchmark U.S. Treasury yields and the dollar ticked up. Shares of Alphabet Inc plunged nearly 10% after the Google parent reported disappointing cloud services revenue, reviving fears of an economic slowdown and dragging down the broader communication services sector. The Dow Jones Industrial Average finished down 0.32%, the S&P 500 lost 1.43% and the Nasdaq Composite dropped 2.43%. "The market is focused on the mega tech names to underpin a viable rally, and yesterday\'s disappointment with Alphabet\'s earnings report is viewed as a potential harbinger of perhaps more disappointment," Quincy Krosby, chief global strategist for LPL Financial in Charlotte, said in an email. In Europe, the STOXX 600 was little changed, after coming under pressure from a near-60% slump in shares of Worldline after the French payments company cut its financial targets. In a heavy day for bank earnings, Deutsche Bank was an outlier, with a 8% rise in its shares. Overnight, Asian stocks rose from 11-month lows as investors cheered China\'s approval of a 1 trillion yuan ($137 billion) sovereign bond issue as a harbinger of stimulus, although MSCI\'s broadest index of Asia-Pacific shares outside Japan were little changed. The MSCI All-World index fell 1%, heading for a third straight monthly decline in October, with a loss of 2.95%, largely as a function of the surge in U.S. Treasury yields. HIGH RATES, MIXED DATA U.S. Treasuries held onto a bounce-back after the 10-year yield breached 5% on Monday. The 10-year note last yielded 4.949%, up 10.6 basis points. The interest rate on the most popular U.S. home loan last week jumped to the highest since September 2000 - 7.9% - driving mortgage applications to a 28-year low, a survey showed on Wednesday. Story continues Separately, fresh data on U.S. business output showed higher levels in October, as the manufacturing sector pulled out of a five-month contraction on a pickup in new orders, and services activity accelerated modestly amid signs of easing inflationary pressures. Strategists at Citi said the Purchasing Managers Index data was "yet another sign that a recession is not imminent." "We continue to think the US economy will enter recession next year, but in the meantime, risks are balanced toward further Fed hikes, rather than cuts," they wrote in a note Wednesday. Several big names on Wall Street called a top on longer-dated Treasury yields, including strategists at UBS and investor Bill Ackman. In currency markets, the dollar index gained 0.27%, a near 1-week high against a basket of currencies, while the yen was steady versus the dollar and the euro fell 0.2% on the day. Oil prices settled up about 2% on Wednesday, buoyed by worries about conflict in the Middle East, but gains were capped by higher U.S. crude inventories and gloomy economic prospects in Europe. Israel is preparing a ground invasion of Gaza, Prime Minister Benjamin Netanyahu said on Wednesday, while Israeli shelling killed more Palestinian civilians and international pressure grew to deliver aid and to safeguard hostages held by Hamas. In Washington, the U.S. House of Representatives elected Republican Mike Johnson, a conservative with little leadership experience, as its speaker on Wednesday after a turbulent three weeks that left the rudderless chamber unable to respond to the Middle East crisis or carry out any of its basic duties. Jamie Cox, Managing Partner for Harris Financial Group in Richmond, said with Johnson\'s election, "all eyes" are now on Nov. 17, by when additional funding is needed to keep the government open. "Unfortunately, the only thing that really came out of the Speaker debacle was a 45-day delay to a government shutdown which has been in the cards since the deal to avoid the debt ceiling," Cox said in an email. GOLD, BITCOIN GAIN After touching $1,997 an ounce last week, spot gold traded at $1,979, up 0.5%. Bitcoin is up about 29% this month mostly thanks to recent speculation that ETF applications from BlackRock and others will succeed and drive capital into cryptocurrencies. Bitcoin last bought $34,794. (Reporting by Lawrence Delevingne in Boston and Amanda Cooper in London. Additional reporting by Tom Westbrook in Singapore; Editing by Mark Potter, Diane Craft and Alistair Bell)', '(Photo by Michael Nagle/Xinhua via Getty Images) Strong earnings reports helped end this year\'s longest losing streak for stocks. Microsoft and Alphabet will release their quarterly earnings after markets close. Crude oil fell on Tuesday, while Treasury yields continued to ease. US stocks snapped this year\'s longest losing streak on Tuesday, as earnings reports continued to top expectations. Leading market names included Spotify and Verizon , whose third-quarter results boosted their shares by nearly 10%. Likewise, General Electric , Coca-Cola , and 3M also popped up on strong earnings. Investors are also awaiting Big Tech reports later in the day, with Microsoft and Google parent Alphabet set to announce after the closing bell. Meta and Amazon will follow later in the week. Meanwhile, oil prices fell from recent highs, with Brent crude slipping further away from the $90-per-barrel mark. Treasury yields also pared down from earlier highs, as the 10-year yield slipped to around 4.8%, dropping further away from the 5% threshold it crossed on Monday. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Tuesday: S&P 500 : 4,247.68, up 0.73% Dow Jones Industrial Average : 33,141.38, up 0.62% (204.97 points) Nasdaq Composite : 13,139.88, up 0.93% Here\'s what else happened today: Bitcoin touched $35,000, the highest since May 2022, as ETF optimism grew. Chinese authorities will boost stimulus offers through new sovereign debt and budget adjustments. JPMorgan\'s Jamie Dimon slammed central banks for previous "dead wrong" forecasts, and warned against definitive predictions. Stocks aren\'t pricing in upcoming "macro damage," BlackRock said. Stocks tend to hit a bottom in late October , before surging on a seasonal rally, Ned Davis Research said. In commodities, bonds, and crypto: West Texas Intermediate crude oil dropped 1.6% to $83.67 a barrel. Brent crude , the international benchmark, shed 2.1% to $87.92 a barrel. Gold stayed essentially flat at $1,973.75 per ounce. The 10-year Treasury yield slipped 1.9 basis points to 4.819% on Thursday. Bitcoin rose 2.4% to $33,728.7. Read the original article on Business Insider', '• Strong earnings reports helped end this year\'s longest losing streak for stocks.\n• Microsoft and Alphabet will release their quarterly earnings after markets close.\n• Crude oil fell on Tuesday, while Treasury yields continued to ease.\nUS stocks snapped this year\'slongest losing streakon Tuesday, as earnings reports continued to top expectations.\nLeading market names includedSpotifyandVerizon, whose third-quarter results boosted their shares by nearly 10%. Likewise,General Electric,Coca-Cola, and3Malso popped up on strong earnings.\nInvestors are also awaiting Big Tech reports later in the day, withMicrosoftandGoogle parent Alphabetset to announce after the closing bell.MetaandAmazonwill follow later in the week.\nMeanwhile, oil prices fell from recent highs, with Brent crude slipping further away from the $90-per-barrel mark.\nTreasury yields also pared down from earlier highs, as the 10-year yield slipped to around 4.8%, dropping further away from the 5% threshold it crossed on Monday.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Tuesday:\n• S&P 500: 4,247.68, up 0.73%\n• Dow Jones Industrial Average: 33,141.38, up 0.62% (204.97 points)\n• Nasdaq Composite: 13,139.88, up 0.93%\nHere\'s what else happened today:\n• Bitcoin touched$35,000, the highest since May 2022,as ETF optimism grew.\n• Chinese authorities willboost stimulusoffers through new sovereign debt and budget adjustments.\n• JPMorgan\'s Jamie Dimonslammed central banksfor previous "dead wrong" forecasts, and warned against definitive predictions.\n• Stocks aren\'t pricing inupcoming "macro damage,"BlackRock said.\n• Stocks tend to hita bottom in late October, before surging on a seasonal rally, Ned Davis Research said.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil dropped 1.6% to $83.67 a barrel.Brent crude, the international benchmark, shed 2.1% to $87.92 a barrel.\n• Goldstayed essentially flat at $1,973.75 per ounce.\n• The 10-year Treasury yield slipped 1.9 basis points to 4.819% on Thursday.\n• Bitcoinrose 2.4% to $33,728.7.\nRead the original article onBusiness Insider', '* Hang Seng up 1% on China bond issue and Huijin signal * AUD hits $0.64 as inflation surprise follows hawkish RBA turn * Google shares drop, Microsoft up after results By Tom Westbrook SINGAPORE, Oct 25 (Reuters) - China helped Asian stocks rise from 11-month lows on Wednesday as investors cheered the approval of a trillion-yuan sovereign issue as a harbinger of stimulus, while the Aussie dollar jumped after hotter-than-expected inflation lifted rate forecasts. MSCI\'s broadest index of Asia-Pacific shares outside Japan , which hit its lowest since last November on Tuesday, rose 0.6% and the Hang Seng climbed more than 1%. Japan\'s Nikkei rose 1.2%. U.S. Treasuries held onto a bounce-back after the 10-year yield breached 5% on Monday, with the benchmark yield firm at 4.82%. Shares in Google parent Alphabet fell 6% in after-hours trade on investors\' disappointment at its slowing cloud business, while Microsoft shares rose nearly 4% - leaving Nasdaq 100 futures 0.4% lower in Asia trade. European stock futures were steady, while oil and the euro were weighed by Tuesday\'s weaker-than-forecast purchasing managers surveys on the continent. Euro zone lending data and a German business survey are due later in the session. China\'s blue-chip CSI300 index, which had been pinned near four-year lows, rose 0.5%. China\'s top parliament approved a 1 trillion yuan ($137 billion) bond issue, state media reported, adding the funds would be spent rebuilding disaster zones and improving infrastructure. Also helping the mood was state-owned investment company Central Huijin announcing it was buying exchange-traded funds, a move which has sparked strong rallies in the past. "Government expenditure will help the economy to stabilise further and strengthen growth in the fourth quarter," said Steven Leung, executive director of institutional sales at broker UOB Kay Hian in Hong Kong. Central Huijin promising ETF purchases drove rallies of more than 20% in 2013 and 2015, according to UOB, and Leung said the signal had given a strong boost to sentiment. Hong Kong leader John Lee also said stock-trading duties and some property stamp duties would be cut in his annual policy statement. Story continues HIKE LOOMS DOWN UNDER In currency markets, the euro nursed losses at $1.0601, having dropped when the euro zone composite PMI fell deeper into contractionary territory. The yen sat at 149.84, perhaps steadied by the persistent selling pressure that is driving rock-bottom Japanese yields a little higher. Ten-year Japanese government bond yields touched a decade high of 0.865%. The Australian dollar was the standout gainer, rising more than 0.5% to touch a two-week high of $0.64. The annual pace of inflation in Australia slowed in the third quarter, but the Reserve Bank of Australia\'s (RBA)preferred core measure rose 1.2% to top forecasts of 1.1%. "We consider the lift in underlying inflation over Q3 23 to be sufficiently strong for the RBA to act on their hiking bias at the upcoming Board meeting," said analysts at CBA. RBA Governor Michele Bullock is due to appear before a parliamentary committee on Thursday. Brent crude futures were steady at $87.92 a barrel, with Europe\'s faltering economy prompting traders to wind back gains made in the wake of conflict in the Middle East. The United States and Russia were among several nations pushing for a pause in fighting between Israel and Hamas to allow aid into the besieged Gaza Strip. After touching $1,997 an ounce last week, spot gold traded at $1,971. Bitcoin, meanwhile, seems to have awoken from long hibernation during the so-called "winter" that followed numerous scandals including the collapse of exchange FTX. Bitcoin is up 15% this week mostly thanks to speculation that exchange-traded fund applications from BlackRock and others will succeed and drive capital into the asset class. Bitcoin last bought $34,158. The U.S. Securities and Exchange Commission has declined to comment on the speculation. ($1 = 7.3090 Chinese yuan) (Editing by Lincoln Feast)', '*\nHang Seng up 1% on China bond issue and Huijin signal\n*\nAUD hits $0.64 as inflation surprise follows hawkish RBA turn\n*\nGoogle shares drop, Microsoft up after results\nBy Tom Westbrook\nSINGAPORE, Oct 25 (Reuters) - China helped Asian stocks rise from 11-month lows on Wednesday as investors cheered the approval of a trillion-yuan sovereign issue as a harbinger of stimulus, while the Aussie dollar jumped after hotter-than-expected inflation lifted rate forecasts.\nMSCI\'s broadest index of Asia-Pacific shares outside Japan , which hit its lowest since last November on Tuesday, rose 0.6% and the Hang Seng climbed more than 1%. Japan\'s Nikkei rose 1.2%.\nU.S. Treasuries held onto a bounce-back after the 10-year yield breached 5% on Monday, with the benchmark yield firm at 4.82%.\nShares in Google parent Alphabet fell 6% in after-hours trade on investors\' disappointment at its slowing cloud business, while Microsoft shares rose nearly 4% - leaving Nasdaq 100 futures 0.4% lower in Asia trade.\nEuropean stock futures were steady, while oil and the euro were weighed by Tuesday\'s weaker-than-forecast purchasing managers surveys on the continent. Euro zone lending data and a German business survey are due later in the session.\nChina\'s blue-chip CSI300 index, which had been pinned near four-year lows, rose 0.5%.\nChina\'s top parliament approved a 1 trillion yuan ($137 billion) bond issue, state media reported, adding the funds would be spent rebuilding disaster zones and improving infrastructure.\nAlso helping the mood was state-owned investment company Central Huijin announcing it was buying exchange-traded funds, a move which has sparked strong rallies in the past.\n"Government expenditure will help the economy to stabilise further and strengthen growth in the fourth quarter," said Steven Leung, executive director of institutional sales at broker UOB Kay Hian in Hong Kong.\nCentral Huijin promising ETF purchases drove rallies of more than 20% in 2013 and 2015, according to UOB, and Leung said the signal had given a strong boost to sentiment. Hong Kong leader John Lee also said stock-trading duties and some property stamp duties would be cut in his annual policy statement.\nHIKE LOOMS DOWN UNDER\nIn currency markets, the euro nursed losses at $1.0601, having dropped when the euro zone composite PMI fell deeper into contractionary territory.\nThe yen sat at 149.84, perhaps steadied by the persistent selling pressure that is driving rock-bottom Japanese yields a little higher. Ten-year Japanese government bond yields touched a decade high of 0.865%.\nThe Australian dollar was the standout gainer, rising more than 0.5% to touch a two-week high of $0.64.\nThe annual pace of inflation in Australia slowed in the third quarter, but the Reserve Bank of Australia\'s (RBA)preferred core measure rose 1.2% to top forecasts of 1.1%.\n"We consider the lift in underlying inflation over Q3 23 to be sufficiently strong for the RBA to act on their hiking bias at the upcoming Board meeting," said analysts at CBA.\nRBA Governor Michele Bullock is due to appear before a parliamentary committee on Thursday.\nBrent crude futures were steady at $87.92 a barrel, with Europe\'s faltering economy prompting traders to wind back gains made in the wake of conflict in the Middle East.\nThe United States and Russia were among several nations pushing for a pause in fighting between Israel and Hamas to allow aid into the besieged Gaza Strip.\nAfter touching $1,997 an ounce last week, spot gold traded at $1,971. Bitcoin, meanwhile, seems to have awoken from long hibernation during the so-called "winter" that followed numerous scandals including the collapse of exchange FTX.\nBitcoin is up 15% this week mostly thanks to speculation that exchange-traded fund applications from BlackRock and others will succeed and drive capital into the asset class. Bitcoin last bought $34,158.\nThe U.S. Securities and Exchange Commission has declined to comment on the speculation. ($1 = 7.3090 Chinese yuan)\n(Editing by Lincoln Feast)', 'The Securities and Exchange Commission (SEC) of the United States has reached an agreement with BlackRock, fining the financial firm $2.5 million for improperly describing its investments in the entertainment business. The allegations come as the SEC prepares to assessBlackRock\'s application for a spot Bitcoin exchange-traded fund (ETF).\nThe deal was reached without BlackRock, the world\'s largest investment manager, acknowledging or rejecting the charges. According to the SEC, BlackRock\'s Multi-Sector Income Trust (BIT) invested in film firm Aviron Group, LLC between 2015 and 2019, but misrepresented it as a "Diversified Financial Services" company.\nThe anticipation surrounding a potential Bitcoin ETF approval haspushed the price of Bitcoin higher, with the price ofBitcoin (BTC)surpassing $35,000 momentarily. Additional capital inflows into the crypto market are expected if the ETFs are approved.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.', 'BlackRock Settles SEC Charges as Crypto Community Awaits Bitcoin ETF Decision The Securities and Exchange Commission (SEC) of the United States has reached an agreement with BlackRock, fining the financial firm $2.5 million for improperly describing its investments in the entertainment business. The allegations come as the SEC prepares to assess BlackRock\'s application for a spot Bitcoin exchange-traded fund (ETF) . The deal was reached without BlackRock, the world\'s largest investment manager, acknowledging or rejecting the charges. According to the SEC, BlackRock\'s Multi-Sector Income Trust (BIT) invested in film firm Aviron Group, LLC between 2015 and 2019, but misrepresented it as a "Diversified Financial Services" company. The anticipation surrounding a potential Bitcoin ETF approval has pushed the price of Bitcoin higher , with the price of Bitcoin (BTC) surpassing $35,000 momentarily. Additional capital inflows into the crypto market are expected if the ETFs are approved. Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form .', 'The Securities and Exchange Commission (SEC) of the United States has reached an agreement with BlackRock, fining the financial firm $2.5 million for improperly describing its investments in the entertainment business. The allegations come as the SEC prepares to assessBlackRock\'s application for a spot Bitcoin exchange-traded fund (ETF).\nThe deal was reached without BlackRock, the world\'s largest investment manager, acknowledging or rejecting the charges. According to the SEC, BlackRock\'s Multi-Sector Income Trust (BIT) invested in film firm Aviron Group, LLC between 2015 and 2019, but misrepresented it as a "Diversified Financial Services" company.\nThe anticipation surrounding a potential Bitcoin ETF approval haspushed the price of Bitcoin higher, with the price ofBitcoin (BTC)surpassing $35,000 momentarily. Additional capital inflows into the crypto market are expected if the ETFs are approved.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.', "Arthur Hayes, the co-founder of the BitMEX derivatives exchange, published an essay attributing the crypto market rally to the costs associated with hawkish U.S. foreign policy and not spot Bitcoin ETF anticipation.\nIn an Oct. 24essaytitledThe Periphery, Hayes attributed U.S. president Joe Biden’s open-ended commitment to supporting Israel’s war effort against Hamas to the recent surge in the crypto markets.\n“Added to Ukraine’s tab, America’s military budget is set to truly explode,” Hayes said. “This will increase future government borrowing, and the sky's the limit when it comes to the sums of capital a war can waste.”\nHayes said institutional investors already moved to sell off bonds and treasury bills in preparation for expanded U.S. military expenditure and will be seeking returns from new asset classes.\n“If long-term U.S. Treasury bonds offer no safety for investors, then their money will seek out alternatives,” Hayes said. “Gold, and most importantly, Bitcoin, will begin rising on true fears of global wartime inflation.”\nHayes’ comments come after BTC surged 19.5% in seven days, with many punditsattributingthe move to progress on BlackRock’s application for an exchange-traded fund (ETF) investing spot in Bitcoin. The combined capitalization of digital assets is up 12.6% over the same period.\nHayes noted that gold has been rallying since the conflict broke out in Gaza. Gold is up 8.6% since Oct. 4, last changing hands for $1,975 per ounce, according to Market Index.\nRead the original post on The Defiant", "Arthur Hayes, the co-founder of the BitMEX derivatives exchange, published an essay attributing the crypto market rally to the costs associated with hawkish U.S. foreign policy and not spot Bitcoin ETF anticipation. In an Oct. 24 essay titled The Periphery , Hayes attributed U.S. president Joe Biden’s open-ended commitment to supporting Israel’s war effort against Hamas to the recent surge in the crypto markets. “Added to Ukraine’s tab, America’s military budget is set to truly explode,” Hayes said. “This will increase future government borrowing, and the sky's the limit when it comes to the sums of capital a war can waste.” Hayes said institutional investors already moved to sell off bonds and treasury bills in preparation for expanded U.S. military expenditure and will be seeking returns from new asset classes. “If long-term U.S. Treasury bonds offer no safety for investors, then their money will seek out alternatives,” Hayes said. “Gold, and most importantly, Bitcoin, will begin rising on true fears of global wartime inflation.” Hayes’ comments come after BTC surged 19.5% in seven days, with many pundits attributing the move to progress on BlackRock’s application for an exchange-traded fund (ETF) investing spot in Bitcoin. The combined capitalization of digital assets is up 12.6% over the same period. Hayes noted that gold has been rallying since the conflict broke out in Gaza. Gold is up 8.6% since Oct. 4, last changing hands for $1,975 per ounce, according to Market Index. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "Arthur Hayes, the co-founder of the BitMEX derivatives exchange, published an essay attributing the crypto market rally to the costs associated with hawkish U.S. foreign policy and not spot Bitcoin ETF anticipation. In an Oct. 24 essay titled The Periphery , Hayes attributed U.S. president Joe Biden’s open-ended commitment to supporting Israel’s war effort against Hamas to the recent surge in the crypto markets. “Added to Ukraine’s tab, America’s military budget is set to truly explode,” Hayes said. “This will increase future government borrowing, and the sky's the limit when it comes to the sums of capital a war can waste.” Hayes said institutional investors already moved to sell off bonds and treasury bills in preparation for expanded U.S. military expenditure and will be seeking returns from new asset classes. “If long-term U.S. Treasury bonds offer no safety for investors, then their money will seek out alternatives,” Hayes said. “Gold, and most importantly, Bitcoin, will begin rising on true fears of global wartime inflation.” Hayes’ comments come after BTC surged 19.5% in seven days, with many pundits attributing the move to progress on BlackRock’s application for an exchange-traded fund (ETF) investing spot in Bitcoin. The combined capitalization of digital assets is up 12.6% over the same period. Hayes noted that gold has been rallying since the conflict broke out in Gaza. Gold is up 8.6% since Oct. 4, last changing hands for $1,975 per ounce, according to Market Index. Read the original post on The Defiant View comments", "Arthur Hayes, the co-founder of the BitMEX derivatives exchange, published an essay attributing the crypto market rally to the costs associated with hawkish U.S. foreign policy and not spot Bitcoin ETF anticipation.\nIn an Oct. 24essaytitledThe Periphery, Hayes attributed U.S. president Joe Biden’s open-ended commitment to supporting Israel’s war effort against Hamas to the recent surge in the crypto markets.\n“Added to Ukraine’s tab, America’s military budget is set to truly explode,” Hayes said. “This will increase future government borrowing, and the sky's the limit when it comes to the sums of capital a war can waste.”\nHayes said institutional investors already moved to sell off bonds and treasury bills in preparation for expanded U.S. military expenditure and will be seeking returns from new asset classes.\n“If long-term U.S. Treasury bonds offer no safety for investors, then their money will seek out alternatives,” Hayes said. “Gold, and most importantly, Bitcoin, will begin rising on true fears of global wartime inflation.”\nHayes’ comments come after BTC surged 19.5% in seven days, with many punditsattributingthe move to progress on BlackRock’s application for an exchange-traded fund (ETF) investing spot in Bitcoin. The combined capitalization of digital assets is up 12.6% over the same period.\nHayes noted that gold has been rallying since the conflict broke out in Gaza. Gold is up 8.6% since Oct. 4, last changing hands for $1,975 per ounce, according to Market Index.\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "Arthur Hayes, the co-founder of the BitMEX derivatives exchange, published an essay attributing the crypto market rally to the costs associated with hawkish U.S. foreign policy and not spot Bitcoin ETF anticipation.\nIn an Oct. 24essaytitledThe Periphery, Hayes attributed U.S. president Joe Biden’s open-ended commitment to supporting Israel’s war effort against Hamas to the recent surge in the crypto markets.\n“Added to Ukraine’s tab, America’s military budget is set to truly explode,” Hayes said. “This will increase future government borrowing, and the sky's the limit when it comes to the sums of capital a war can waste.”\nHayes said institutional investors already moved to sell off bonds and treasury bills in preparation for expanded U.S. military expenditure and will be seeking returns from new asset classes.\n“If long-term U.S. Treasury bonds offer no safety for investors, then their money will seek out alternatives,” Hayes said. “Gold, and most importantly, Bitcoin, will begin rising on true fears of global wartime inflation.”\nHayes’ comments come after BTC surged 19.5% in seven days, with many punditsattributingthe move to progress on BlackRock’s application for an exchange-traded fund (ETF) investing spot in Bitcoin. The combined capitalization of digital assets is up 12.6% over the same period.\nHayes noted that gold has been rallying since the conflict broke out in Gaza. Gold is up 8.6% since Oct. 4, last changing hands for $1,975 per ounce, according to Market Index.\nRead the original post on The Defiant", "Arthur Hayes, the co-founder of the BitMEX derivatives exchange, published an essay attributing the crypto market rally to the costs associated with hawkish U.S. foreign policy and not spot Bitcoin ETF anticipation.\nIn an Oct. 24essaytitledThe Periphery, Hayes attributed U.S. president Joe Biden’s open-ended commitment to supporting Israel’s war effort against Hamas to the recent surge in the crypto markets.\n“Added to Ukraine’s tab, America’s military budget is set to truly explode,” Hayes said. “This will increase future government borrowing, and the sky's the limit when it comes to the sums of capital a war can waste.”\nHayes said institutional investors already moved to sell off bonds and treasury bills in preparation for expanded U.S. military expenditure and will be seeking returns from new asset classes.\n“If long-term U.S. Treasury bonds offer no safety for investors, then their money will seek out alternatives,” Hayes said. “Gold, and most importantly, Bitcoin, will begin rising on true fears of global wartime inflation.”\nHayes’ comments come after BTC surged 19.5% in seven days, with many punditsattributingthe move to progress on BlackRock’s application for an exchange-traded fund (ETF) investing spot in Bitcoin. The combined capitalization of digital assets is up 12.6% over the same period.\nHayes noted that gold has been rallying since the conflict broke out in Gaza. Gold is up 8.6% since Oct. 4, last changing hands for $1,975 per ounce, according to Market Index.\nTo continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io", "Bitcoin Funds Saw $57M in Inflows as ETF Excitement Grows Global publicly traded crypto funds saw a significant increase in fresh capital of more than $61 million on Monday, comparable to more than 10% of this year's net deposits into such funds. The majority of the assets, approximately $57 million, were channeled towards Bitcoin (BTC) investments, spurred by rising investor demand for a Bitcoin spot ETF in the United States. This comes as Bitcoin surged past $35,000 momentarily , for the first time since May last year. Excitement surrounding the potential approval of the ETFs likely triggered the spike, with BlackRock’s iShares Bitcoin ticker reportedly listed on the Depository Trust & Clearing Corporation (DTCC) . The biggest sources of these inflows were Germany and Canada, with Germany's ETC Group receiving $24.3 million and Canada's Purpose Investments receiving $10.9 million. In addition, 21Shares AG took about $11.8 million. Meanwhile, the United States Court of Appeals has directed the SEC to reconsider Grayscale's Bitcoin ETF application, heightening the competition among prominent firms hoping to launch a spot Bitcoin ETF. Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form .", "Global publicly traded crypto funds saw a significant increase in fresh capital of more than $61 million on Monday, comparable to more than 10% of this year's net deposits into such funds.\nThe majority of the assets, approximately $57 million, were channeled towardsBitcoin (BTC)investments, spurred by rising investor demand for a Bitcoin spot ETF in the United States. This comes asBitcoin surged past $35,000 momentarily, for the first time since May last year. Excitement surrounding the potential approval of the ETFs likely triggered the spike, withBlackRock’s iShares Bitcoin ticker reportedly listed on the Depository Trust & Clearing Corporation (DTCC).\nThe biggest sources of these inflows were Germany and Canada, with Germany's ETC Group receiving $24.3 million and Canada's Purpose Investments receiving $10.9 million. In addition, 21Shares AG took about $11.8 million. Meanwhile, the United States Court of Appeals has directed the SEC to reconsider Grayscale's Bitcoin ETF application, heightening the competition among prominent firms hoping to launch a spot Bitcoin ETF.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.", "Global publicly traded crypto funds saw a significant increase in fresh capital of more than $61 million on Monday, comparable to more than 10% of this year's net deposits into such funds.\nThe majority of the a
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-25
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $667,173,148,200
- Hash Rate: 436874638.6171956
- Transaction Count: 476549.0
- Unique Addresses: 812853.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.72
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: This article originally appeared inFirst Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context.Subscribe to get it in your inbox every day.
The U.S. Securities and Exchange Commission (SEC) mustreviewits rejection of Grayscale Investments' attempt to convert its Grayscale Bitcoin Trust (GBTC) into an ETF, a federal appeals court ruled on Tuesday.The legal victory potentially opens the door for a spot bitcoin ETF in the U.S. Advocates have long argued that allowing this type of product would enable a greater swath of the general public to invest in bitcoin without having to go through the trouble of buying it directly or deal with potential issues like their custody providers collapsing. The SEC has disapproved every such ETF application it's reviewed to date, though a new swath of applicants are now hoping for success. Circuit Judge Neomi Rao, writing the D.C. Circuit Court of Appeals' opinion, said that federal agencies are required to "treat like cases alike." The SEC did not explain why it was treating these products differently, she added, making the Grayscale denial "arbitrary and capricious.”
Bitcoin (BTC)gainednearly 8%, topping $28,000 at one point on Tuesday afternoon after afederal appeals court ruledthat the SEC must review its rejection of Grayscale Investments' attempt to convert its GBTC into an ETF.As has been typical with such rallies for many months, the crypto quickly gave back a chunk of those gains, with bitcoin trading just under $27,400 at press time, still up more than 5% over the past 24 hours. GBTC also saw itsbusiest trading sessionin 14 months, with nearly 20 million shares changing hands through the day, the most since the June 2022 crypto market crash, according toYahoo data. The share price surged 18% to almost $21, the highest since bitcoin hit $31,000 in mid-July while the fund’sdiscountto net asset value (NAV)narrowedto as low as 15%, a level not seensince December 2021. Other movers included bitcoin cash (BCH), which has surged 15% over the last 24 hours.Stacks(STX), a bitcoin layer 2 protocol, was also a top gainer following the news, gaining 20% on the day. DCG, the parent company of Grayscale, also owns CoinDesk.
A tentative dealstruckbetween defunct lender Genesis Global Capital (GGC) and parent company Digital Currency Group (DCG) faces opposition from a group of creditors who described in aTuesday filingthe treatment of over a billion dollars in outstanding loans as “wholly insufficient.” Genesis' lending arm GGCfiled for bankruptcy in Januaryafter a double whammy from the collapse of hedge fund Three Arrows Capital and crypto exchange FTX. The wind-up has been delayed for months by talks over the contribution that DCG should make. An in-principle dealannounced by Genesis on Tuesdaysaw DCG – which is also CoinDesk’s parent company – agreeing to a series of partial repayments to satisfy liabilities of $630 million in unsecured loans due in May 2023 and $1.1 billion due in 2032....
- Reddit Posts (Sample): [['u/TaterTower', 'Just hit 0.1 BTC yesterday', 806, '2023-10-25 10:22', 'https://www.reddit.com/r/Bitcoin/comments/17fzzff/just_hit_01_btc_yesterday/', "As an 18 year old stacking sats wasn't easy, but im proud to say that yesterday i finally hit 0.1 Btc. Lets see where this takes us!", 'https://www.reddit.com/r/Bitcoin/comments/17fzzff/just_hit_01_btc_yesterday/', '17fzzff', [['u/Some-Pumpkin2358', 41, '2023-10-25 16:04', 'https://www.reddit.com/r/Bitcoin/comments/17fzzff/just_hit_01_btc_yesterday/k6e8ph9/', "i'm from poor country +rn unemployed so only have 130$ worth of btc :/ Age 21(very dissapointed in myself)", '17fzzff']]]]...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Participants Adam Minick; Investor Contact; CME Group Inc. Derek Sammann; Senior MD and Global Head of Commodities, Options Products & International Markets; CME Group Inc. Julie Winkler; Senior MD & Chief Commercial Officer; CME Group Inc. Lynne Fitzpatrick; CFO; CME Group Inc. Suzanne Sprague; Senior MD and Global Head of Clearing & Post-Trade Services; CME Group Inc. Terrence A. Duffy; Chairman & CEO; CME Group Inc. Tim McCourt; Senior MD and Global Head of Financial & OTC Products; CME Group Inc. Alexander Blostein; Lead Capital Markets Analyst; Goldman Sachs Group, Inc., Research Division Alexander Kramm; Executive Director and Equity Research Analyst of Exchanges, Ebrokers; UBS Investment Bank, Research Division Andrew Bond; Senior Analyst; Rosenblatt Securities Inc., Research Division Benjamin Elliot Budish; Research Analyst; Barclays Bank PLC, Research Division Brian Bertram Bedell; Director in Equity Research; Deutsche Bank AG, Research Division Christopher John Allen; MD; Citigroup Inc., Research Division Craig William Siegenthaler; MD & Head of the North American Asset Managers, Brokers & Exchanges Team; BofA Securities, Research Division Daniel Thomas Fannon; Senior Equity Research Analyst; Jefferies LLC, Research Division Elias Noah Abboud; Research Analyst; BofA Securities, Research Division Kenneth Brooks Worthington; MD; JPMorgan Chase & Co, Research Division Kyle Kenneth Voigt; MD; Keefe, Bruyette, & Woods, Inc., Research Division Michael J. Cyprys; Executive Director and Senior Research Analyst; Morgan Stanley, Research Division Owen Lau; Associate; Oppenheimer & Co. Inc., Research Division Patrick Malcolm Moley; Research Analyst; Piper Sandler & Co., Research Division Presentation Operator Greetings, and welcome to the CME Group Third Quarter 2023 Earnings Call. (Operator Instructions) I would now like to turn the conference over to Adam Minick. Please go ahead. Adam Minick Good morning. I hope you\'re all doing well today. We will be discussing CME Group\'s third quarter 2023 financial results. I\'ll start with the safe harbor language, then I\'ll turn it over to Terry. Statements made on this call and in the other reference documents on our website that are not historical facts are forward-looking statements. These statements are not guarantees of future performance. They involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any statement. Detailed information about factors that may affect our performance can be found in the filings with the SEC, which are on our website. Lastly, on the final page of the earnings release, you will see a reconciliation between GAAP and non-GAAP measures. With that, I\'ll turn the call over to Terry. Story continues Terrence A. Duffy Thanks, Adam, and thank you all for joining us this morning. We released our executive commentary earlier today, which provides details on the third quarter of 2023. I\'ll make a few brief comments on the quarter and current outlook, and Lynne will summarize our financial results. In addition to Lynne, we have other members of our management team present to answer questions after the prepared remarks. Turning to the most recent quarter. Average daily volume of 22.3 million contracts was less than 1% off the record Q3 high set in Q3 2022, while our revenue grew 9% to $1.34 billion, which is the highest Q3 revenue in CME Group\'s history. As we\'ve mentioned throughout this year, we are operating in an environment that unquestionably requires risk management. With so much uncertainty in the world we live in, we\'re continuing to work closely with our clients to help them navigate uncertainty and manage their risks. This is particularly true in the interest rate markets today. We see divergent market views around inflation, unemployment, monetary policy and ongoing geopolitical tensions, all impacting future interest rate expectations. Regardless of whether rates rise, fall or hold steady, the shape of the yield curve and interest rate views continue to shift, and our customers need to manage that risk. As a result, we have continued to see growth on top of the record year in 2022 for our interest rate business. This was our highest Q3 for our interest rates complex, up 6% from the same quarter last year. We saw particular strength in the treasury complex, which was up 16% in the quarter and is off to a strong start in Q4 as well. Completing the successful migration of Eurodollars to SOFR, we continue to list other products to complement our interest rate complex today. Our European short-term rate, or ESTR contracts, traded a record 10,000 contracts per day in September. Our newly listed treasury bill futures launched on October 2, and we have traded over 15,000 contracts in the first 3 weeks. This is one of the most successful launches of a [rates] product ever. Our broad product offering and focus on capital efficiencies, such as the enhanced cost-margining agreement with DTCC going live in January of 2024, continue to enhance the value proposition for our customers using our products to manage their interest rate exposure. On the commodity side, third quarter 2023 volume was up 15% in total and included the highest-ever Q3 volume for our agricultural products. Our energy complex also performed well, with volume increasing 16% from last year. We believe the current environment for this asset class will continue to bring new clients as well as existing ones to manage their exposure in our global benchmark. We believe the strong macro environment, combined with our diverse set of asset classes and strategic execution across our growth initiatives, positions us well for continued growth in 2023 and beyond. With that, I\'ll turn it over to Lynne to cover the third quarter financial results. Lynne Fitzpatrick Thanks, Terry. During the third quarter, CME generated $1.34 billion in revenue, up 9% compared with a strong third quarter of last year. Clearing and transaction fees and market data revenue each grew 9% versus Q3 \'22. Expenses continue to be very carefully managed, and on an adjusted basis, were $448 million for the quarter and $369 million excluding license fees, both lower than the second quarter this year. This quarter, our investment in the cloud migration was approximately $13 million. Our adjusted operating margin for the quarter expanded to 66.5%, up approximately 240 basis points compared with the same period last year. CME Group had an adjusted effective tax rate of 22.8%, which resulted in net income of $818 million and adjusted diluted earnings per share of $2.25, each up 14% from the third quarter last year. Of the $110 million increase in revenues versus last year, we were able to drive 90% to the bottom line with adjusted net income up $99 million. As a result of the strong expense discipline throughout the firm, we are lowering our core expense guidance, excluding license fees, to $1.475 billion, a $15 million decrease from our original guidance of $1.49 billion. We are maintaining our guidance of $60 million for our cloud migration expense for a total expense guidance of $1.535 billion excluding license fees. We continue to manage our capital expenditures effectively with an eye towards our move to the cloud. As a result, we are lowering our CapEx guidance [to] $85 million. For the quarter, our capital expenditures were approximately $18 million. CME paid out $2.8 billion of dividends so far this year, and cash at the end of the quarter was approximately $2.5 billion. Our strong financial results this quarter continued to build on the strength achieved in the first half of the year. This quarter, we delivered our ninth consecutive quarter of double-digit adjusted earnings growth. Our global benchmarks, data and strong focus on innovation and execution continue to address the needs of our clients and deliver results for our shareholders. Please refer to the last page of our executive commentary for additional financial highlights and details. We\'d now like to open up the call for your questions. (Operator Instructions) Thank you. Question and Answer Session Operator (Operator Instructions) Our first question is from the line of Dan Fannon with Jefferies. Daniel Thomas Fannon Terry, a question for you on M&A. You\'ve been vocal about your financial capacity to do additional transactions. I was hoping you could talk about kind of the scope and what you\'re looking at. And also, in the context of the current environment, why now? Have valuations come in? Are your competitors distracted with other deals or other tasks? So curious about the current backdrop of what you\'re looking -- what you\'re thinking about and really the scope and what that may look like. Terrence A. Duffy Yes. Thanks, Dan. I think that\'s the reason why people sometimes need to read the whole story and not just the headline. Because if you read the whole story, I haven\'t said anything different than what I\'ve said for several years, is I was only stating facts to the point where our capacity is much greater than everybody else\'s because we\'ve stayed very disciplined and very focused as it relates to our M&A transactions that we\'ve done. I was only referring to our EBITDA being lower than 1x compared to some of our competitors who were at multiples of that. When asked the question, if deals are to be offered, I made the reference to the comment that where else would you want to shop something but the CME? It doesn\'t mean that CME is interested, but that\'s all I was referencing. So my appetite for this hasn\'t changed a bit. We have not looked at anything that I -- to a point where I said, "Okay, we want to do a deal." I was only referencing what I\'ve been saying for a number of years. And unfortunately, the headlines say what they\'re going to say. So there\'s not much more I can say about it than that, Dan. But again, nothing has changed from our discipline. And again, if I -- we see something -- and I said this publicly and I believe this. If we see something that benefits our users and benefits our shareholders, we will take a very strong look at it to build and grow this great company. That\'s all I was saying. Operator Our next question is from the line of Patrick Moley with Piper Sandler. Patrick Malcolm Moley So Terry, I was hoping you can maybe just give us your updated thoughts on the outlook for volumes heading into year end, just given some of the evolving yield curve dynamics we\'ve seen in this kind of heightened geopolitical uncertainty. And then coming into this year, you talked a lot about how great the setup was for CME\'s business. So maybe if you could just talk about how that maybe compares now to -- or how it\'s played out relative to your expectations, and how it maybe compares to the setup we\'re now looking at heading into 2024. Terrence A. Duffy Yes. I think the good -- and thank you, Patrick. I appreciate it. I think it\'s really hard to predict the future, and I try to be careful. But the setups that we saw in 2022, which you\'re referring to, and 2023, were something so glaring that you had to call it out because of the geopolitical events, what was going on with inflation where people were calling it transitory versus you sprinkle $3 trillion into the American public\'s hands, you know that it\'s not going to be transitory. So I was only sprinkling out the favorable events that we were seeing fundamentally that I thought was good for every single one of our asset classes. And it was actually very good for us. As you know, with a record year in 2022 and an amazing quarter this quarter in 2023, and as Lynne said, our ninth consecutive quarter of double-digit revenue growth. So those are all very impressive numbers. We will -- I don\'t think the setup has changed, Patrick, when you look at what\'s going on right now, that\'s going to be much different for 2024. I think we\'re going to see a little bit of the same, but who knows? It\'s hard to predict what the volumes would be associated with that. But there is a massive amount of uncertainty out there. When we made comments like we did in \'22 and \'23, we also didn\'t have the unfortunate situation we\'re seeing in the Middle East today. So there\'s another added component going on to that. And then we also have other situations, as I said earlier as it relates to our energy complex, where people are looking for more production coming out of the U.S., and Derek can touch more about that throughout the Q&A. But again, I think that bodes well for CME\'s products. But I\'ll -- beyond that, I\'ll be careful what I say. Operator Our next question is from the line of Alex Kramm with UBS. Alexander Kramm Just quickly on the regulatory side. Seems like the SEC is getting closer to mandating treasury clearing on the cash side. Obviously, you have your arrangement with DTCC now in place starting in January. So a good position there, I guess. But like more broadly, just wondering how you think treasury clearing would change the marketplace, both on the cash side and maybe even on the futures side, customer behavior, new customers. Anything -- I assume you have some thoughts on it. So anything would be helpful, how market structure may change if that happens. Terrence A. Duffy Yes. No, thank you very much. And it\'s a great question because it\'s a great unknown, too, what\'s going on out there. And what is being proposed and what may happen is still being hammered out. I\'m going to ask Suzanne Sprague, who is the president of my clearinghouse, to give you some comments on the reg side of it. She\'s working closely with her team as they\'re watching this. And then I\'m going to turn it over to Tim McCourt from an opportunity perspective, what he\'s seeing as it relates to the complex if, in fact, some of these things happen or even if they don\'t. So maybe we\'ll give you a little 2-part answer here, Alex, if you don\'t mind. Suzanne Sprague Yes. Thanks, Terry. We do think generally the benefits of central clearings will bring the marketplace into a strong position for things like our cross-margining program with the Fixed Income Clearing Corporation. So you are correct to put those dots together, that it will potentially enable higher participation in that program. We do today have the program that\'s eligible for common clearing members. And so the enhancements will benefit those common clearing members within the program. And therefore, increased activity through clearing of treasuries generally should translate to more eligible activity that could benefit from cross-margining between CME and the Fixed Income Corporation. So we generally believe the benefits of central clearing, plus those enhancements to the cross-margin program, will position us and the industry well for taking advantage of more capital efficiencies in this space. I\'ll turn it over to Tim McCourt to add anything else as well. Tim McCourt Sure. And thanks, Alex, for the question. I think when we think about the opportunity, why we remain excited and very optimistic that the cross-margin agreement is finally coming online in January of next year, is because this is something that we\'ve seen before in our other markets. When you unlock the capital efficiencies of related products, it significantly increases the risk management capabilities of the marketplace and can lead to increased trading velocity in the product. While, as Terry said, it\'s hard to predict the future, if we look at some of the other areas we\'ve unlocked capital historically, portfolio margining of futures versus swaps is probably a pretty good analog to look at, and that\'s been in place since 2012. Since that\'s been put in place, the average daily savings have grown from $1 billion in 2013 to a little over $7.5 billion today in 2023. And at that same time, our rates volume grew 109% and open interest doubled in the complex. And our cash market participation went from about 54% over 100%. So certainly, unlocking capital is beneficial to the volume and the velocity of the complex. And we\'re optimistic about what we can do once this comes online early next year. Terrence A. Duffy Hopefully that gives you a little color to your question, Alex. Operator Our next question is from the line of Owen Lau with Oppenheimer. Owen Lau So it\'s somehow related to the last question, but I think you talked about government budget deficit in the past leading to more treasury issuance, which could increase like more hedging activities. Could you please unpack a little bit more on that relationship? Are you saying, when we see more treasury issuance, that should like kind of induce higher trading activity? I think any more color would be helpful. Terrence A. Duffy Yes, Owen, it\'s Terry Duffy here. And one of the things that we have said historically, and if you recall some of the comments that our former colleague, Mr. Sean Tully, made over the years that, when the Fed no longer is acquiring some of these treasuries, that the demand for them will have to go somewhere else. The Fed does not hedge their treasury portfolio, as you know. The other people that acquire the issuances coming out from the government need to hedge those. So it\'s hard to predict what the issuance is going to be. But again, those -- the parties that will be taking the issuance, if it\'s not the Fed, are traditionally people that hedge those in our marketplace. So that should benefit CME. So Tim, maybe you want to add anything more to that? Tim McCourt Yes. Sure. Thanks, Owen. When we look at the net issuance of treasury securities, they increased significantly in Q3 compared to Q2, up almost 80%. And that\'s not surprising. If you remember, this is really looking at the replenishment of the treasury general account, which reached a record low of just under $50 billion prior to the debt ceiling. And at the end of September, that balance stood about $672 billion. Now it\'s important, to Terry\'s point, to look at where that debt is being issued. And comments made previously, a lot of the issuance is going into T-bills on the short end of the curve. That\'s what we saw in Q1, Q2, and that pattern has not changed here in Q3. So with respect to how that can impact our complex in treasuries, one would assume that, if we look back over historical distributions of how the treasury has looked to issue debt, there\'s only so much that can go into the front end of the curve. It was perhaps a little bit below the historical norms the last several years where the treasury has taken advantage of the lower rates further out the curve. So one can reasonably conclude, going forward, they would look further out the curve to be more in line with their traditional or historical allocation, where that\'s where our complex at CME has all the historical products. As Terry noted, the growing treasury complex from both a volume and an OI perspective, we would expect that issuance further out the curve in the coupons and bonds to increase the velocity as the marketplace looks to digest that issuance, hedge the related trading activity of it. And with the introduction of our T-bills earlier this year that\'s off to a great start, we now also have tradable products across the entirety of the curve, and even better suited for that risk management needs of the marketplace as they find ways to absorb this increasing debt being issued to the market. Operator Our next question is from the line of Brian Bedell with Deutsche Bank. Brian Bertram Bedell Great. I have a couple of questions. I\'ll get back in the queue for the second one. The first question I have is on just on the -- I guess there\'s some talk of more regulatory -- or potentially more regulatory scrutiny around basis trading within futures and treasuries. And just wanted to get your perspective on how you view any potential scrutiny there, or the merits of that trade. And I don\'t know if you\'re able to potentially size the impact on volumes. I know it can be -- can change quite dramatically over cycles, so maybe it\'s tough to do. But just wanted to get a sense. Terrence A. Duffy Yes. And Brian, it\'s Terry. I\'m going to turn it over to Tim. But sometimes, there\'s problems looking for solutions, as they say, or solutions looking for problems. And this is government at its finest trying to introduce new legislation where there is no problem. With the basis trade, it\'s something that will continue to move as well as it should, and the basis trade is actually what keeps the markets in line. So we feel very strongly that this is going to continue to keep the market efficient. And the more you explain that to regulators to show them what kind of potential chaos you could introduce if, in fact, you have additional regulation that takes people out of that trade, which widens the basis, they may not like that outcome. So let me turn it over to Tim to give you a little bit more color. But I would be cautious to draw the conclusion that any kind of pending regulation is coming down the pike in any time soon. Tim? Tim McCourt That\'s correct, Terry. I think the one thing I would add is that the existence of basis between cash and futures market is not an isolated phenom to the treasury market. We see this in almost all of our asset classes here at CME. And the fact that you can independently trade the basis as a stand-alone risk parameter is an important key element to keep these markets aligned and arbitrage-free. It\'s something that we\'ve seen as vital to the marketplace for this purpose, and it\'s something that we also see remaining in this market. It\'s not surprising, with rates traversing the range that they have, that you\'re going to see different behavior of the basis than we have in previous decades when we\'ve seen similar activity. And it\'s something that we engage with the market. And the one thing I would note is that it\'s also important that CME also has the ability to trade cash treasuries on BrokerTec, and the futures, which is also both leading price discovery mechanism. So we are the natural home for this trade to take place, and we continue to work with the marketplace. Now we can increase the efficiency of this trade going forward and work even more closely with market participants to make sure we unlock the value that still exists between bringing the BrokerTec and our futures business together at CME. Operator Our next question is from the line of Kyle Voigt with KBW. Kyle Kenneth Voigt Maybe just a question on expenses. Good to see the lower expense guide today. But just given the slightly higher kind of inflationary environment and still relatively tight labor market, just wondering if you could remind us how you think about steady-state organic expense growth on a medium-term basis for this business within the current macro backdrop. And then second part of that question, as we\'re approaching the end of the year here, can you also just remind us how the Google-related expenses are expected to unfold into 2024 versus 2023 level? So I think there was spend for the first 4 years, but just maybe give us an update on where you stand with that spend today and when that starts to wind down. Terrence A. Duffy Thank you, Kyle. Lynne, do you want to address both of those issues? Lynne Fitzpatrick Yes, sure. So overall expense guidance, if you look at our estimate for this year, that\'s up about 3.6% on our core expenses despite the inflationary environment. So I think what you\'ve seen from us over the years is really tight expense discipline and expense control. We\'re always looking for ways to minimize the -- run the business expense to become more efficient so that we can have more of our expense base going through -- to growth initiatives and helping to grow the bottom line. So I think we have a strong track record there. If you look back in history, it averaged between that 3% to 3.5% over the last several years. Certainly, as we look forward, we\'ll continue that same type of discipline, and we\'ll look to provide guidance as we get closer to year-end. On the Google front, we did guide that we would have 4 years of incremental cash costs in the range of $30 million per year on average. So our expense guidance for this year, this is our second year, is $60 million in expense, offset by $20 million in CapEx savings, to get to a net $40 million. We had $30 million in net expenses last year. So we have 2 more years where we think there will be an incremental expense associated with the Google migration before we see -- start to see breakeven and ultimately cash flow positive. Operator Our next question is from the line of Benjamin Budish with Barclays. Benjamin Elliot Budish Terry, in your comments, you talked about the kind of uncertain rate environment and ongoing need for participants to manage risk. Earlier in the year, you talked about the opportunity with regional banks. But maybe just at a high level, how do you see that opportunity more broadly? Is it kind of new participants that haven\'t been on CME\'s platform before? Is it more involved hedging from existing participants? How do you see kind of like the medium-term TAM coming from that environmental need that you see? Terrence A. Duffy Yes. I think it\'s hard to -- for us to describe if it\'s the regional banks or the bigger banks hedging. I mean, Suzanne can help me with more color on that as who the exact participants are because they come in to -- only the bigger banks anyway, even the smaller ones do. So we\'re not quite sure which one is laying out the risk. Suzanne Sprague Yes, I would agree with that. It\'s generally appealing, I would say, for both of those groups of folks to engage with us on an ongoing basis, especially now with the uncertainty in the rate environment, to think through the offerings that we have from a capital efficiency standpoint as well as a general risk management standpoint for ensuring that there aren\'t additional micro or macro events that will, I guess, circulate in the industry. SVB is one example of a lot of engagement that we\'ve had, leading up to and afterwards, with clients about the way that we provide services and clearing solutions to allow people to manage risk as well as the product side. So I think it is hard to specifically identify what portion of those participants might be new and existing, but we have been engaging pretty broadly in the marketplace around those events to make sure that the products and services, as well as the way that the clearinghouse offers risk management services, are accounted for and available for market participants more broadly to get ahead of any other events that might be circulating in the industry. Terrence A. Duffy And just to add to that, Ben. Thank you, Suzanne, that\'s a great answer. But just to add to that, Ben, the duration risk that we saw take down SVB has not gone away. As we talked about earlier in our comments, the issuance that is coming out from the government seems quite large in order to run and pay our bills in this government, and the demand has been a little bit lighter. So in return, whether we like it or not, rates are continuing to be very stubborn regardless of what the Fed does or does not do. So I think that we\'re not suggesting there will be more duration risk. But what I am suggesting is that people are going to have to manage that. And so whether it\'s the biggest of banks or the mid-tier banks, the risk management associated with duration, not only is it not going away, in my opinion, it\'s increasing because of the fundamentals of the overall treasury market in general. So from our standpoint, we think that will lend to more people mitigating and managing risk through our treasury complex from all different sizes of the banking world. Operator Our next question is from the line of Chris Allen with Citi. Christopher John Allen I was wondering if you could provide color on the average collateral balances for cash, noncash in the quarter. And then with respect to the yields and then where they stand at present. Terrence A. Duffy Lynne? Lynne Fitzpatrick Sure, Chris. Happy to. So if you look at quarter 3, the average cash balances were $91 billion. The yield on that averaged 36 basis points. For noncash, we averaged $137 billion yielding 7 basis points. If you look at October to date, the cash balance has trended down. We\'re seeing average cash balances of $71 billion and a shift into the noncash collateral, which is up to $152 billion. I would point out that on the noncash collateral side, we did announce a fee change that takes effect in January where the charge on the noncash collateral will be increasing from a blended 7 basis points up to 10 basis points. Just to give that a little sizing. If you apply that change to this quarter\'s average volume, that would have added $10 million to the revenue associated with the noncash collateral, which rolls through other revenue. Operator Our next question is from the line of Ken Worthington with JPMorgan. Kenneth Brooks Worthington As we go into year-end, maybe could you talk about how you\'re thinking about price increases in data and trading for 2024, particularly in the context of the fairly sizable changes you made in 2023? Terrence A. Duffy Okay. Ken, thank you. I\'m going to ask Lynne to start. And then Julie Winkler, who heads up our data organization as our Chief Commercial Officer, will participate as well. So Lynne? Lynne Fitzpatrick Yes. So as you know, on the clearing and transaction fee side, we typically announce any changes there later in the year. It\'s typically around the late November time frame. Our approach is the same as it\'s always been. It will be a bottoms-up approach looking at all the different markets, looking at health of the market, the value we\'ve created, the health of our customers and the total cost of trade, including not only clearing and transaction fees, market data fees, but also the cost of collateral and making sure that we don\'t do anything from a fee perspective that would impact volume or liquidity given our high incremental margin. So as I mentioned, we have increased that noncash collateral fee effective in January that runs through other revenue. And Julie has announced some market data fee changes, which take effect in January as well. Julie, do you want to walk through those? Julie Winkler Yes. I mean, Q3 was another record quarter of $167 million in data revenue, so up another 9% year-on-year. And I think the strong growth also is something that, as we look into 2024, yes, there will be some fee adjustments, but we also are looking for continued new product development, active sales efforts, continued education and also our enforcement efforts. So it should be noted, even in this quarter, we saw about $4.9 million in nonrecurring revenue that was reflective of both those prior period activities from subscriber adjustments as well as that audit revenue that we sometimes talk about. And so similarly with the transaction-based business that Lynne just referenced, we\'re continually evaluating the pricing of these data offerings. We have a very large and diverse set of offerings. So it\'s difficult to really specify a specific increase to forecast for 2024. Many of our data products, however, will see price increases next year ranging from 3% to 5%, kind of reflecting that price-to-value approach. However, again, this is dependent on both subscribers as well as that nonrecurring revenue that occurs in most quarters. So hope that\'s helpful. Operator Our next question is from the line of Alex Blostein with Goldman Sachs. Alexander Blostein I was hoping you can opine on some of the potential new competitive dynamics and developments in interest rate futures markets with FMX Futures potentially entering the space and partnering with LCH. Now we\'ve seen this movie before, right, multiple times, and all these kind of attempts have been unsuccessful. So wonder whether or not this might feel different given LCH position as the largest pool of clearing in the swaps market. Maybe just a reminder of sort of the benefits that customers get by keeping everything in futures and the savings across the portfolio they can get versus the alternative of trying to kind of cross margin between futures and swaps. Terrence A. Duffy Thanks, Alex. And I\'m going to ask Tim and maybe some of my other colleagues around the table to comment as well. But when we\'re looking at the FMX proposal, it\'s -- we haven\'t seen all their details. And I think -- so it\'s really hard to comment on exactly what the competitive offering is going to be, other than what you just referenced. I understand what you said. I think with the announcement of DTCC and the offsets that we are going to be able to supply to the users, is going to be an extremely powerful benefit to the participants of the marketplace. And you also have to remember that FMX is coming from a position of 0 futures trading today. And where we are sitting on, as Tim has referenced, record open interest in treasury complex, listing new products and listing the benefits thereof. We are ready and able to compete with anybody. And competition is something that has made CME what it is today. But the benefits that we continue to work on. You\'ve heard me say this for years, that we are going to continue to look for capital efficiencies in each and every one of our asset classes. We are delivering on every one of those asset classes to deliver capital efficiencies. That does not go lost on the participants in a capital-intensive world. So when you\'re talking about new offerings with LSE and what they could potentially offer versus what we have, we think we have a massive compelling offering for our clients that saves them additional funds. So I like our position, and I think we are in a position of strength. Again, I think a lot of people, Alex, as you know very well, when the LIBOR was going away and everybody was going to convert from Eurodollars, us, to SOFR, that people thought it was a jump ball. And we felt we were in a very strong position to transition 100% of that business into CME SOFR products, which we did, because of efficiencies to everything we have to offer. And those go from the back office to my sales team right across the entire organization that creates those benefits. So I like our position. Again, I think you said it at the beginning of your question. We\'ve seen this movie before. I don\'t want to quote you wrong, but I think that\'s what you said. And we will continue to take every party that wants to compete with us very seriously. But at the same breath, we think we have a very strong, powerful, compelling offering for our clients. Tim, do you want to add to that? Tim McCourt Sure. Thanks, Terry, and thanks, Alex. I think just to add a little more color on that picture, is when we look at the gravity of the complex at CME, Terry\'s point, this is unmatched. And the one thing I want to further remind the marketplace about is you can unlock a tremendous amount of capital savings and efficiencies at CME today, and the marketplace is doing it. In addition to the $7.5 billion-plus margin savings from our portfolio -- margining portfolio, let\'s look at some of the numbers with respect to the open interest, with record average daily open interest in our treasury complex of just under 19 million contracts for the third quarter, a record average daily open interest in our SOFR complex of about 11 million contracts, and with our record large open interest holder population of 3,175 participants. That is an enormous amount of gravity that, although LCH may be the leader with respect to their interest rate swap clearing offering, I like the gravity and the size of the complex that\'s going to be unmatched about the capital efficiency the can tap into with CME, the sheer function of our position on the future side, which we expect to only be more and more important to the marketplace as we head into 2024. Terrence A. Duffy Hopefully that gives you a little color on how we\'re thinking about it, Alex. But again, we take everything seriously. And -- but I think, again, our offering, as Tim has said and I said, is very compelling. Operator Our next question is from the line of Michael Cyprys with Morgan Stanley. Michael J. Cyprys Two-part question. Just following up on the capital efficiencies beyond the cross margining with DTCC. Just curious what other steps you might be able to take as you look out the next 3 years to further enhance that. And then the other part of the question is just around the regulators proposing new capital rules for banks that can make some bespoke off-exchange derivatives just more capital-intensive. Just curious of your take on that, where you see the biggest opportunity to bring derivatives from OTC to the exchange-traded marketplace. Terrence A. Duffy Michael, both really good questions. The latter one is we\'ve dealt with in 2017. I\'m assuming you\'re referring to the Basel III, what\'s being proposed on the second part of your question. Michael J. Cyprys Yes. Terrence A. Duffy Okay. So on the first part, on the capital efficiencies, I\'m going to turn it over again to Suzanne Sprague, and she can touch on both. But I\'ll give you my thought process on the Basel III as well. Suzanne Sprague Yes. Thanks, Terry. So we do look forward to extending the enhanced cross-margin program to the client level. We have had quite a bit of conversations with ourselves and the Fixed Income Clearing Corporation, as well as clients, on the importance of continuing to broaden that program. So we don\'t have any timelines to commit to at this point in time, but it is a focus of ours jointly to be able to expand those enhancements to the end client level, which I think will help even more with things we\'ve already covered on the treasury mandate, and needing more capital efficiencies to address things like increased capital costs under the Basel proposal. I think Terry will hit it at a high level, the Basel proposal. Terrence A. Duffy Yes, let me just comment on the practicality, Michael, and I know that you\'ve been there for a little while now at your firm and understand how this works. There is 0 consensus amongst the regulators as it relates to some of these proposals in Basel III. Actually, there\'s really opposing views to that, which makes it very difficult to move something forward, where you have, internally at a regulator, not the same people supporting the proposal. The markets need to remain efficient. And I guess, again, another solution looking for a problem with Basel III, we have never had an issue under the margin that we\'re holding that needs to have a capital hit associated with it. We only think that would add to the lack of liquidity to the overall marketplace and make markets less efficient than they are today. And that\'s not healthy, especially as we laid out the fundamental places that we are in the world today and with the issuance coming forward. We need to manage this. There\'s risk in everything we do in this life, including the treasury issuance and who\'s using it or not. We think we have a very good platform, and we think that the rules that are in place right now makes sense for the users. And if you want to just continue to add capital charges to everything we do, I guess we can constrict it to 0. And we won\'t have any more risk in the system, but we won\'t have any economies around the world either. So I do think it gets to a certain point. Again, like I said earlier, this was proposed in 2017, and it was not agreed upon then. So we\'ll see where this goes. We are meeting with people in Washington now. My Washington folks are trying to explain the detriment that such a proposal could bring to the overall marketplace. Operator Our next question is from the line of Craig Siegenthaler with Bank of America. Craig William Siegenthaler So in the quarter, there was another instance of vertical integration between an exchange -- or actually secondly, a DCM and an FCM. So now we have Coinbase, MIAX with vertically integrated business models. So first, I want to get your perspective on what this means for the ecosystem. And then -- and also, CME already registered its FCM last year, I think partly in reaction to FTX\'s move. So what are your updated objectives for that business now? Terrence A. Duffy So Craig, again, I\'ve been also talking a lot about market structure and how market structures always have a shelf life, and we don\'t know what the next one is going to look like, but we all need to be prepared for it. And that\'s what CME will always do. We\'ll be prepared for anything that comes our way. That\'s one of the reasons we filed for the FCM application, not just because of FTX. But not to say you\'re wrong because that was part of the reasons why, but it was, again, around market structure. I think with these vertically integrated models that is being proposed, such as MIAX, and I think Coinbase is the other one you referenced. The conflict of interest question for the clients is huge. And it would be big for us, too, if we decided to go ahead and deploy an FCM. So we would have to be very careful about that ourselves. But the same breath, I think that if they\'re going to go down this integrated model, they need to write rules associated with it. This was my entire complaint around FTX, that they were trying to make existing rules fit for their business proposal. So if in fact we\'re going to have integrated models of what MIAX is proposing today and going into business in the United States, you need to write rules with them. Because the Commodity Exchange Act clearly states, in the year 2000, that those rules were written with intermediaries in mind, not on a direct model. So not saying you couldn\'t have intermediaries in the direct model, but the rules are not clear on that. So I think there\'s a long way to go. I think one of the reasons they\'re not getting much attention today on that is because of their size, which I think is wrong to look at it that way. It shouldn\'t matter, their size. Who\'s to say they can\'t get bigger tomorrow? Who\'s to say we can\'t do something different tomorrow as well. So I think there needs to always be rules, and the rules of the road need to be applied so people understand that we do not need situations like \'08 and other ones that we could all describe because of people trying to advance businesses that they think is in their best interest without having the public\'s interest at heart. So again, we\'ve always been a neutral facilitator of risk management. We will continue to do so. We like the intermediary model. And again, but we don\'t know what the future is going to hold. But I do -- I am very concerned about some of these existing platforms. And the government needs to look at them and write rules for them if, in fact, they\'re going to allow them to stay in business. Operator Our next question is from the line of Andrew Bond, Rosenblatt Securities. Andrew Bond One for Derek on the energy business. So energy markets, particularly natural gas markets, have experienced some structural shifts benefiting North American markets following the Russian invasion of Ukraine. And more recently, with the geopolitical events in the Middle East, are you seeing more of a continuation of these dynamics? And can you talk about the potential longer-term impact of the geopolitical events of late on your markets? Terrence A. Duffy Andrew, thank you. We appreciate it. And Derek? Derek Sammann Yes. Thanks, Andrew. Yes, I think this is kind of proof positive of what we\'ve been talking about for the last couple of years, that structurally, the U.S. is in an incredibly strong position, given the position we have both in crude oil as well as natural gas. As you know, we\'re currently exporting record amounts of oil from the U.S. at 4.6 million barrels a day. We\'re also exporting record levels of natural gas, while based on Henry Hub pricing record levels from our U.S. capacity point of view. So as we\'ve talked about, that structurally positions CME\'s WTI franchise as kind of the leader in that space and certainly positions WTI as a global benchmark as the U.S. continues to export the marginal barrel outside the U.S. with challenges everywhere else. Natural gas, as you pointed out, has been a really, really strong point for the energy franchise overall. When you look at what\'s going on from an uncertainty point of view, options continue to be a significant proportion of our customers\' client behavior. So we like our position in both natural gas and crude oil. When you look at the volume and growth of the -- both futures and options, strong in Q3. More importantly, we continue to see that strength in October with our energy options up 81%, overall energy up 26% in October. So really strong year this year, continuing really strong year into Q4. And the position that we have as the swing producer, both in natural gas and crude oil, I think, positions us well long term in what we think is a potentially multigenerational energy shift. Operator Our next question is a follow-up from Alex Kramm with UBS. Alexander Kramm Just a quick one on the interest rate business again. You guys, Terry, mentioned the LIBOR-SOFR transition. Obviously, that\'s now behind us and successful. But just maybe looking back on that. I think early on, there were some concerns that SOFR would not be the best replacement for Eurodollar and that maybe it won\'t meet certain trading strategies. So now that we\'re sitting here, I don\'t know, 6 months after the real cutoff, is the marketplace different at all? Are you seeing certain strategies not being applied anymore? And is that still room for innovation for you? Or is SOFR and Eurodollar basically now the same thing, as it always was? Terrence A. Duffy So I\'m going to let Tim answer as well, Alex. But I will say the following, that the reason why people believe that SOFR might not be as good as your Eurodollar is because of pure uncertainty. When you know a certain way for so many decades of how you\'re going to price short-term interest rates, and all of a sudden, the governments say you have to change them, it\'s the uncertainty of the marketplace, for starters. As far as it goes to the strategies, I think Tim already outlined the open interest in trade and SOFR. So you would have to say the answer to question number two, are people not doing certain strategies? Is no. So question number three is are -- is there opportunity for people, I think was the last thing you had asked for the SOFR versus what was not in the LIBOR. And I\'ll turn that to Tim. Tim McCourt Yes. Thanks, Terry, and thanks, Alex, for the question. I think what\'s interesting is, when we see several months after the transition, we look at the SOFR complex at CME. Year-to-date through Q3, I believe we\'re already about 14% above the best year in Eurodollar previously. And we still have a whole quarter to go, which is exciting. So certainly adopted, certainly being integrated. We\'re seeing similar strategies with respect to the various option strategies, the futures, the outrights, the spread. So we\'re really pleased with how the ecosystem is coming along. But the one thing I would add is we also have new additional short-term interest rate products that can be spread against SOFR. When we look at the introductions of T-bills, and as Terry said in his opening comments with respect to us leading and taking really strong roots in the ESTR market overseas, these are all new things that are additive to the ecosystem that didn\'t exist when Eurodollars were around. So very optimistic for the future, and further buttressed by our efforts on the CME term SOFR front with respect to licensing and the IP and the gravity that we\'re lending to that complex. These are all great things that continue to position not only SOFR, but the rest of our rates complex, given the interrelatedness and the spread strategies that exist, as we head into next year. Operator Our next question is a follow-up question from the line of Brian Bedell with Deutsche Bank. Brian Bertram Bedell It\'s on RPC. Just some of the drivers in the third quarter that you mentioned were member mix and product mix. I think that was mostly on the product mix side between asset classes. I was wondering if you could comment a little bit about were there any outliers within the asset classes that significantly impacted the RPC? And then it looks like geography-wise, your non-U.S. was actually up a little bit sequentially. And I thought that was -- usually it\'s typically the higher RPC. So maybe just some comments on that. And then also just on options versus futures, if you can remind us on the differentials there. I think, Derek, you mentioned the options volumes in energy in particular were up nicely in October. Terrence A. Duffy Yes, Brian, 2 parts to your question. So I\'m going to ask Lynne to comment on the RPC and then ask Derek to comment on the international business, which you\'re correct, does carry a higher RPC than the traditional -- some of the stuff here in the U.S. But go ahead, Lynne. Lynne Fitzpatrick Yes. So if you look at the overall RPC of $0.707 versus the prior quarter of $0.724, so down $0.017. The drivers for that were really lower proportion coming from commodities products, so it was about 18% this quarter, down from about 19.5% last quarter. We did also see a slight increase in member mix and the contribution from micros overall. In terms of the specific asset classes, I wouldn\'t call anything out as unusual per se. I would just point you to, if you look at the year-over-year bas
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-26
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $677,215,317,262
- Hash Rate: 455077748.5595787
- Transaction Count: 431256.0
- Unique Addresses: 778594.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.71
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin (BTC) ended the first U.S. trading day of the week in the green, but it gave up some gains as the U.S. 10-year yield spiked to its highest level in more than 16 years. In the last 24 hours, the world's largest digital asset dipped into the red and is down by 1.57%. Meanwhile, the much-hyped ether futures exchange-traded funds (ETFs) failed to capture the interest of investors, with low volumes reported on their first day of trading.
Bitcoin is set to end the U.S. trading day just below $28,000, up around 3%,according to CoinDesk Indices data. Meanwhile,ether is changing handsat approximately $1670, down modestly for the session. TheCoinDesk Market Index (CMI)is higher by 1.6% over the past 24 hours.
In the equities market, stocks were mixed Monday after U.S. lawmakers over the weekend prevented a government shutdown with a stop-gap bill. Interest rates continued to push higher, with the U.S. 10-year Treasury yield soaring another 11 basis points to 4.69%. The yield rose after unexpectedly strong manufacturing data underlined the resilience of the U.S. economy, with the ISM figures coming in at 49 versus a forecasted 47.7, suggesting that more rate hikes could be in the cards.
For crypto, all this is happening as the industry enters October, historically one of its strongest months.
The crypto market, especially bitcoin, has seen a sizable rally recently, influenced by factors like the SEC's ether futures ETFs approvals and other government decisions, QCP Capital wrote in a recent note, highlighting that bitcoin has gained 15% in the last two weeks. However, QCP has concerns regarding the rally's sustainability, with shifts in demand and historical data suggesting potential market downturns.
“We would even go further to say a futures-only ETF is arguably detrimental to spot price - as it potentially directs demand away from the spot market into a synthetic market,” they wrote. QCP says it is taking advantage of this rally to buy the downside hedges, expecting resistance to hold around $29,000-$30,000.
As far as the recently launched ether futures ETFs,volumes remained low throughout the trading day.
"Even if these ETFs come out, and they don't massively drive price changes, that's okay. That's what assets are supposed to do. They're not supposed to be all over the room," Dexterity Capital Managing Partner Michael Safai said on a recent appearance on CoinDesk TV.
"ETF issuers don't know the markets like traders do," he continued. "Their optimism is a bit misplaced; anyone who wants bitcoin or ether surely has it....
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
['Investors may want to start clearing out the junk as we head into New Year 2024. In fact, i f the stocks listed below are held, consider selling them. If not, be warned. Many of the names on this list of stocks to avoid aren’t worth buying. Stocks to Avoid: Coinbase (COIN) The Coinbase (COIN stock) logo on a smartphone screen with a BTC token. Crypto winter is setting in. Source: Primakov / Shutterstock.com Coinbase (NASDAQ: COIN ) has a well-known brand, offers easy access to crypto markets, and has provided very strong returns to investors in 2023. Despite that, the stock is a sell. Fundamentally, Coinbase is heading in the wrong direction. Consumer and institutional trading volumes fell precipitously at Coinbase in the second quarter. That led to a large decline, roughly 50%, in transaction revenue for Coinbase. The firm made up some of the difference with interest income but it wasn’t enough, and revenues suffered a 17% decline . Those are just simple facts but they’re powerful nonetheless. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Beyond that, Coinbase is also facing a lawsuit from the US Securities and Exchange Commission (SEC). That lawsuit will argue whether cryptos are securities as the SEC digs in its heels and attempts to bring crypto under its purview. The lawsuit is only going to serve to hold prices lower as it looms like a black cloud sowing doubt about crypto’s position.\xa0 Additionally, Coinbase continues to lose a lot of money, more than $97 million in Q2. AMC (AMC) The AMC Empire 25 Cinemas in Times Square in New York Source: rblfmr / Shutterstock.com AMC (NYSE: AMC ) is and has been a dangerous stock to invest in. The company continuously attempts to market the silver lining in what has consistently been a gray cloud. Recently, that’s materialized as a push to impress investors that Taylor Swift’s Era’s Tour film could be its savior. It’s clear that concert movies like her’s and Beyonce’s have a broad appeal that sells. However, AMC isn’t going to right its ship on either or both. It is simply too far gone. The firm and its stock have been trading on borrowed time for a while. Back in April, Moody’s downgraded AMC’s credit rating to ‘junk’. AMC posted a net loss of $186 million in H1 . Somehow, the company wants investors to believe that it is stronger than the seismic shifts affecting its business. It isn’t. Streaming and other factors are simply too powerful. Story continues AMC’s debt is rising and the company has diluted its stock as well. Don’t get caught chasing its supposed strengths. Stocks to Avoid: United Airlines (UAL) The front view of a passenger airplane with a sunset in the background. Airline stocks Source: Shutterstock United Airlines (NASDAQ: UAL ) perfectly exemplifies one of the biggest issues affecting airline stocks : profitability. Margins are generally tight even in the best of times. Analysts keep a keen eye trained on earnings in particular. It serves as a barometer of overall health which is exactly why UAL shares are headed down for the next few weeks. While United Airlines showed strong results on booming Atlantic and Pacific travel in Q3, it’s the fourth quarter outlook that has investors worried. United offered weak guidance that is roughly $0.30 to $0.60 below the $2.09 analysts had in mind. The news is troublesome for the entire industry and factors in externalities that could not have been anticipated. The conflict in Israel and Palestine is taking its toll as Tel Aviv flights are being affected. Rising fuel costs factor in as well. The result is that airline stocks again appear troubled which follows a strong period of surging, pent-up travel demand. Mullen (MULN) Image of a red Mullen car. Source: betto rodrigues / Shutterstock.com Mullen (NASDAQ: MULN ) stock is truly circling the drain. For the past few months the company has been fighting to simply keep its shares listed on the Nasdaq . That’s a crystal clear sign that the firm is in deep trouble and very dangerous for investors overall. The thrust of news is entirely up to one’s interpretation. It’s positive in that Mullen may be able to ward off an imminent delisting by bringing its case before the panel. Yet, it’s also a screaming indication of how bad things have gotten. In any case, Mullen just diluted the value of its shares again by filing a preliminary proxy statement of a reverse stock split. It’s a textbook example of how to further erode shareholder value when trying to do the opposite. Stocks to Avoid: Beyond Meat (BYND) Person holding mobile phone with logo of American meat substitute company Beyond Meat Inc. (BYND) on screen in front of web page. Focus on phone display. Unmodified photo. Source: T. Schneider / Shutterstock.com Beyond Meat’s (NASDAQ: BYND ) products have not lived up to the hype. The simple truth is that consumers aren’t going to replace beef burgers with plant-based burgers. That’s the narrative you have to pull from Beyond Meat’s Q2 earnings report. Sales fell 30.5% to $102.1 million during the period. That led to a $53.5 million net loss. Optimistic investors can build a narrative that favors those fundamentals but it wouldn’t be wise. In the earnings report, Beyond Meat characterized the slowdown as reflective of ‘weak category demand’. Again, plant-based meat simply hasn’t lived up to the hype. My take remains the same: Plants are delicious and so is meat. Trying to make plants into meat simply doesn’t work. It lacks mass appeal and more importantly, the business model produces steep losses on a sustained basis. BYND shares dipped below $10 in early September and are headed toward $6. Stay away. KeyCorp (KEY) bank customer sliding money to teller at bank desk. promising bank stocks Source: Syda Productions / Shutterstock.com KeyCorp (NYSE: KEY ) sings a siren song with a dividend yielding 8.1%. Bank stocks are considered stable generally notwithstanding trouble earlier this year. And a high-yield dividend makes KEY shares appear to be a slam dunk at first glance. Upon further inspection, the truth becomes clearer. The yield is as high as it is because share prices have fallen so dramatically. Those prices have fallen because income has more than halved at the bank in 2023. That has pushed prices from $18 to $10. Meanwhile, dividend payouts have remained at $0.205 per quarter pushing yields higher due to their calculation method. Regional banks were deeply shaken earlier in the year. Investors are still trying to figure out what to make of them late in 2023. I can’t say I have a clear answer but intuition tells me that KeyCorp is in trouble and that its dividend will only draw investors in and ultimately hurt them. Stocks to Avoid: GameStop (GME) GameStop (GME) sign on side of building in blue early morning light Source: shutterstock.com/EchoVisuals It feels like the tide has turned on GameStop (NYSE: GME ). Even the appointment of Ryan Cohen hasn’t changed overall negative sentiment surrounding the firm. His appointment hasn’t had the effect intended and shares have continued to fall. The company’s push into eCommerce, at Cohen’s behest as a major shareholder, has fallen flat. The company burned through a series of high-profile eCommerce executives who failed to stanch the bleeding. Now GameStop is back to square one: Traditional disc-based game sales combined with steep cost-cutting measures as GameStop enacts the strategy it abandoned not long ago. No one viewing GameStop believes that the company is now in a better place than it was at any point in the last few years. There’s not much hope left logically. Digital downloads dominate the gaming industry. GameStop couldn’t adapt successfully. It tried to branch out into hot topics including NFTs to no avail.\xa0 Nothing has helped and it’s back to square one only with the additional problems it’s picked up in the interim. On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 7 Doomed Stocks With Nowhere to Go But Down appeared first on InvestorPlace .', "Singapore --News Direct-- BingX SINGAPORE - Media OutReach - 27 October 2023 - BingX, a leading cryptocurrency exchange, is excited to announce the release of the highly anticipated Version 2 of its 4th Quarter 2023 Crypto Report. This updated report offers an in-depth examination of cryptocurrency price analysis and spotlights high value projects, building upon the success of its predecessor. The reports anticipates increased volatility for Bitcoin in Q4 2023. However, the potential approval of ETFs and ongoing economic uncertainty in the U.S. suggest a Bitcoin rebound during the fourth quarter of 2023. Version 2 of the 4th Quarter 2023 Crypto Report by BingX provides detailed insights and updates into cryptocurrency market performance and uncovers some of the most promising projects in crypto space. Projects featured in this report include updates on ARB price , ANT price , AAVE price and STORJ price . The report suggests that 2024 and 2025 could potentially be the final bull markets for Bitcoin with significant price increases, especially in the sector of DeFi. BingX's Version 2 of the 4th Quarter 2023 Crypto Report builds on the success of its previous edition of Token Price Analysis V1 , offering fresh insights into the dynamic cryptocurrency market. This comprehensive resource empowers investors and enthusiasts with expert analysis and information to make informed decisions with recent BTC price movements and general consensus. About BingX BingX is a leading cryptocurrency exchange offering spot, derivatives, grid, and copy trading services to users in over 100 countries and regions worldwide. With a user base of over 5 million, BingX facilitates connections between users, expert traders, and the platform itself in a secure and innovative manner. Contact Details BingX [email protected] Company Website https://bingx.com/en-us/ View source version on newsdirect.com: https://newsdirect.com/news/bingx-releases-comprehensive-update-of-4th-quarter-2023-crypto-analysis-and-highlights-storj-576350800 View comments", "Singapore --News Direct-- BingX SINGAPORE - Media OutReach - 27 October 2023 - BingX, a leading cryptocurrency exchange, is excited to announce the release of the highly anticipated Version 2 of its 4th Quarter 2023 Crypto Report. This updated report offers an in-depth examination of cryptocurrency price analysis and spotlights high value projects, building upon the success of its predecessor. The reports anticipates increased volatility for Bitcoin in Q4 2023. However, the potential approval of ETFs and ongoing economic uncertainty in the U.S. suggest a Bitcoin rebound during the fourth quarter of 2023. Version 2 of the 4th Quarter 2023 Crypto Report by BingX provides detailed insights and updates into cryptocurrency market performance and uncovers some of the most promising projects in crypto space. Projects featured in this report include updates on ARB price , ANT price , AAVE price and STORJ price . The report suggests that 2024 and 2025 could potentially be the final bull markets for Bitcoin with significant price increases, especially in the sector of DeFi. BingX's Version 2 of the 4th Quarter 2023 Crypto Report builds on the success of its previous edition of Token Price Analysis V1 , offering fresh insights into the dynamic cryptocurrency market. This comprehensive resource empowers investors and enthusiasts with expert analysis and information to make informed decisions with recent BTC price movements and general consensus. About BingX BingX is a leading cryptocurrency exchange offering spot, derivatives, grid, and copy trading services to users in over 100 countries and regions worldwide. With a user base of over 5 million, BingX facilitates connections between users, expert traders, and the platform itself in a secure and innovative manner. Contact Details BingX [email protected] Company Website https://bingx.com/en-us/ View source version on newsdirect.com: https://newsdirect.com/news/bingx-releases-comprehensive-update-of-4th-quarter-2023-crypto-analysis-and-highlights-storj-576350800 View comments", '• US stocks closed in the red on Thursday, with the Nasdaq shedding more than 1%.\n• US GDP data for the third quarter showed the economy grew at 4.9%, more than expected.\n• Meta stock fell after management warned on ad sales.\nUS stocks declined on Thursday as traders took in hotter-than-expected US economic growth as well as more tech earnings.\nGross domestic productin the third quarter grew at a 4.9% annualized rate, above forecasts and the roughly 2% pace seen in the prior two quarters. Consumer spending jumped 4%, the most since 2021.\n"Investors should not be surprised that the consumer was spending in the final months of the summer," said Jeffrey Roach, chief economist for LPL Financial. "The real question is if the trend can continue in the coming quarters and we think not."\nMeanwhile, the Nasdaq slumped deeper into correction territory as tech giantsAlphabetandMeta Platformshave failed to impress Wall Street this reporting season. Like Alphabet, Meta beat on revenue and earnings, but management at the social-media leader warned on ad sales.\nHere\'s where US indexes stood as the market closed at 4:00 p.m. on Thursday:\n• S&P 500:4,137.23, down 1.18%\n• Dow Jones Industrial Average:32,784.30, down 0.76% (251.63 points)\n• Nasdaq Composite:12,595.61, down 1.76%\nHere\'s what else is going on:\n• The bond market is acting like it\'s 1969, when rising yields preceded a recession, according to JPMorgan.\n• A portfolio manager said the no-recession trade is tobuy high-yield bonds.\n• The Fed iscrushing small businessesacross the US.\n• Investing pioneer Rob Arnott warned thatrecessions always start with a booming economy.\n• A veteran investor saidstocks will rallywhen Israel\'s ground invasion of Gaza begins.\n• Here\'s how Wall Street is reacting toMeta\'s third-quarter earnings.\n• The stock market is riskier andmore volatile than it was in past decades.\nIn commodities, bonds, and crypto:\n• Oil prices dropped, withWest Texas Intermediatedown 2.3% to $83.40 a barrel.Brent crude, the international benchmark, moved lower 2.3% to $88.08 a barrel.\n• Goldwas flat at $1,994.50 per ounce.\n• The10-year yieldtumbled 10.6 basis points to 4.847%.\n• Bitcoinslipped 1.6% to $34,113.\nRead the original article onBusiness Insider', 'Traders work on the floor of the NYSE Thomson Reuters US stocks closed in the red on Thursday, with the Nasdaq shedding more than 1%. US GDP data for the third quarter showed the economy grew at 4.9%, more than expected. Meta stock fell after management warned on ad sales. US stocks declined on Thursday as traders took in hotter-than-expected US economic growth as well as more tech earnings. Gross domestic product in the third quarter grew at a 4.9% annualized rate, above forecasts and the roughly 2% pace seen in the prior two quarters. Consumer spending jumped 4%, the most since 2021. "Investors should not be surprised that the consumer was spending in the final months of the summer," said Jeffrey Roach, chief economist for LPL Financial. "The real question is if the trend can continue in the coming quarters and we think not." Meanwhile, the Nasdaq slumped deeper into correction territory as tech giants Alphabet and Meta Platforms have failed to impress Wall Street this reporting season. Like Alphabet, Meta beat on revenue and earnings, but management at the social-media leader warned on ad sales. Here\'s where US indexes stood as the market closed at 4:00 p.m. on Thursday: S&P 500 : 4,137.23, down 1.18% Dow Jones Industrial Average : 32,784.30, down 0.76% (251.63 points) Nasdaq Composite : 12,595.61, down 1.76% Here\'s what else is going on: The bond market is acting like it\'s 1969 , when rising yields preceded a recession, according to JPMorgan. A portfolio manager said the no-recession trade is to buy high-yield bonds . The Fed is crushing small businesses across the US. Investing pioneer Rob Arnott warned that recessions always start with a booming economy . A veteran investor said stocks will rally when Israel\'s ground invasion of Gaza begins. Here\'s how Wall Street is reacting to Meta\'s third-quarter earnings . The stock market is riskier and more volatile than it was in past decades . In commodities, bonds, and crypto: Oil prices dropped, with West Texas Intermediate down 2.3% to $83.40 a barrel. Brent crude , the international benchmark, moved lower 2.3% to $88.08 a barrel. Gold was flat at $1,994.50 per ounce. The 10-year yield tumbled 10.6 basis points to 4.847%. Bitcoin slipped 1.6% to $34,113. Read the original article on Business Insider', "Upbit Dominates Korean Crypto Exchange Market, New Study Finds A new study by a web3 consulting firm DeSpread.io has shed light on the state of cryptocurrency trading in South Korea, revealing that centralized exchanges hold a dominant position in the market. The analysis focused on the top four Korean exchanges - Upbit , Bithumb , Coinone and Korbit . The study found that despite a global downturn in trading volumes since March, Korean exchanges have bucked the trend. Trading volumes on major Korean exchanges rose 37% from June to July. This indicates the growing influence of domestic platforms. Currently, the top Korean exchanges account for around 10% of volumes compared to Binance, and 16% compared to Coinbase. Upbit stands alone at the top in South Korea, responsible for a staggering 80% of volumes in the Korean market. Second-placed Bithumb trails with a 15-20% share. Coinone and Korbit have minimal presence. In an attempt to capture market share, Bithumb introduced a zero-fee structure in early October. However, this policy did not have a lasting impact, with Bithumb's volumes dropping back down later in the month. Analysis shows Korean traders have a high-risk appetite, with minimal Bitcoin and Ethereum volumes compared to the global market. Instead, altcoins like Loom Network , eCash and Flow make up the bulk of trades. The report also found that Korean exchanges act as fiat gateways, with users withdrawing to platforms like Binance to access products not offered domestically. The Tron network is preferred for transfers over Ethereum, due to lower fees. The full report provides a deeper analysis of trading patterns, investor behavior, exchange policies and other aspects of the Korean cryptocurrency landscape. View comments", "Anew studyby a web3 consulting firm DeSpread.io has shed light on the state of cryptocurrency trading in South Korea, revealing thatcentralized exchangeshold a dominant position in the market. The analysis focused on the top four Korean exchanges -Upbit,Bithumb,CoinoneandKorbit.\nThe study found that despite a global downturn in trading volumes since March, Korean exchanges have bucked the trend. Trading volumes on major Korean exchanges rose 37% from June to July. This indicates the growing influence of domestic platforms. Currently, the top Korean exchanges account for around 10% of volumes compared to Binance, and 16% compared to Coinbase.\nUpbit stands alone at the top in South Korea, responsible for a staggering 80% of volumes in the Korean market. Second-placed Bithumb trails with a 15-20% share. Coinone and Korbit have minimal presence.\nIn an attempt to capture market share, Bithumb introduced a zero-fee structure in early October. However, this policy did not have a lasting impact, with Bithumb's volumes dropping back down later in the month.\nAnalysis shows Korean traders have a high-risk appetite, with minimalBitcoinandEthereumvolumes compared to the global market. Instead, altcoins likeLoom Network,eCashandFlowmake up the bulk of trades.\nThe report also found that Korean exchanges act as fiat gateways, with users withdrawing to platforms like Binance to access products not offered domestically. The Tron network is preferred for transfers over Ethereum, due to lower fees.\nThe full report provides a deeper analysis of trading patterns, investor behavior, exchange policies and other aspects of the Korean cryptocurrency landscape.", 'LAS VEGAS, October 27, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), is pleased to announce that its subsidiary, Imperalis Holding Corp. (OTC: IMHC), dba TurnOnGreen, Inc. (" TurnOnGreen "), revealed that it has initiated projects at an additional 19 hotels and successfully activated 80 Electric Vehicle (" EV ") charging stations at 32 hotels across North America, thereby bolstering the Company’s EV charging infrastructure in response to the expanding EV market. The projects feature multiple high-power, networked EVP700G and EVP1100WG Level 2 EV chargers. Users can activate these chargers via the TurnOnGreen App, RFID cards, or by scanning a unique QR code displayed on each EV charger. The new installations distributed across North America include the following locations: Best Western Copper Hills Inn – Globe, AZ Best Western Premier Chateau Granville Hotel & Suites – Vancouver, BC Hampton Inn Buellton – Buellton, CA Cardiff by the Sea Lodge – Cardiff, CA Best Western Novato Oaks Inn – Novato, CA Red Lion Hotel – Redding, CA Best Western Red Coach Inn – San Francisco, CA Holiday Inn Express – Jacksonville Beach, FL Four Points Sheraton – Jacksonville, FL Best Western Milton Inn – Blairsville, GA Best Western Smyrna – Smyrna, GA Best Western Mattoon – Mattoon, IL Holiday Inn Express – Maryville, MO Best Western Rocky Mountain Lodge – Whitefish, MT Best Western Native Inn – Calera, OK Best Western Markita Inn – Durant, OK Best Western Ponderosa Lodge – Sisters, OR Best Western Premier Park Hotel – Madison, WI Tru by Hilton Chesapeake Greenbrier – Chesapeake, VA "We are working closely with multiple hospitality groups to support the increasing demand for EV charging infrastructure at hotels across North America," said TurnOnGreen President Marcus Charuvastra. "TurnOnGreen is able to provide hotel owner-operators with a variety of flexible power EV charging options and affordable network solutions to help properties monetize energy distribution, offer charging as an amenity, or support hotel guest reward programs." Story continues TurnOnGreen offers scalable EV charging solutions to homes, businesses, and fleets across North America. TurnOnGreen’s EV charging hardware, management software, and network services allow municipalities, businesses, and homeowners to monetize, track and report EV charger usage. TurnOnGreen charging systems maintain high standards in the market, are Energy Star Certified, and are backed by an internationally recognized certificate of safety and performance. "TurnOnGreen continues to build strategic partnerships across a variety of industries that enable TurnOnGreen to build EV charging infrastructure in regions where it is needed most," said Amos Kohn, TurnOnGreen’s Chief Executive Officer. "We are focused on addressing major growth markets in the EV charging space and providing long lasting infrastructure solutions that allow TurnOnGreen to build a large base of recurring revenue opportunities," added Mr. Kohn. According to a 2022 survey of 17,000 hotels in the American Hotel and Lodging Association, only 26.6% of all hotels had installed EV charging stations on their property. There are currently 110,721 hotels and motels in the United States as of 2023, an increase of 5.8% from 2022. The Hilton, Best Western and Marriott Hotel brands have recently introduced EV charging guidance for their existing and new properties to help guide the future implementation of EV charging infrastructure at a select number of their hotels across North America. For more information on TurnOnGreen’s product line, please visit TurnOnGreen.com . For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . About TurnOnGreen TurnOnGreen Inc. (OTC: IMHC) designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen headquarters are located at Milpitas, CA; www.TurnOnGreen.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20231027210661/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235', 'LAS VEGAS, October 27, 2023 --( BUSINESS WIRE )-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (" Ault Alliance ," or the " Company "), is pleased to announce that its subsidiary, Imperalis Holding Corp. (OTC: IMHC), dba TurnOnGreen, Inc. (" TurnOnGreen "), revealed that it has initiated projects at an additional 19 hotels and successfully activated 80 Electric Vehicle (" EV ") charging stations at 32 hotels across North America, thereby bolstering the Company’s EV charging infrastructure in response to the expanding EV market. The projects feature multiple high-power, networked EVP700G and EVP1100WG Level 2 EV chargers. Users can activate these chargers via the TurnOnGreen App, RFID cards, or by scanning a unique QR code displayed on each EV charger. The new installations distributed across North America include the following locations: Best Western Copper Hills Inn – Globe, AZ Best Western Premier Chateau Granville Hotel & Suites – Vancouver, BC Hampton Inn Buellton – Buellton, CA Cardiff by the Sea Lodge – Cardiff, CA Best Western Novato Oaks Inn – Novato, CA Red Lion Hotel – Redding, CA Best Western Red Coach Inn – San Francisco, CA Holiday Inn Express – Jacksonville Beach, FL Four Points Sheraton – Jacksonville, FL Best Western Milton Inn – Blairsville, GA Best Western Smyrna – Smyrna, GA Best Western Mattoon – Mattoon, IL Holiday Inn Express – Maryville, MO Best Western Rocky Mountain Lodge – Whitefish, MT Best Western Native Inn – Calera, OK Best Western Markita Inn – Durant, OK Best Western Ponderosa Lodge – Sisters, OR Best Western Premier Park Hotel – Madison, WI Tru by Hilton Chesapeake Greenbrier – Chesapeake, VA "We are working closely with multiple hospitality groups to support the increasing demand for EV charging infrastructure at hotels across North America," said TurnOnGreen President Marcus Charuvastra. "TurnOnGreen is able to provide hotel owner-operators with a variety of flexible power EV charging options and affordable network solutions to help properties monetize energy distribution, offer charging as an amenity, or support hotel guest reward programs." Story continues TurnOnGreen offers scalable EV charging solutions to homes, businesses, and fleets across North America. TurnOnGreen’s EV charging hardware, management software, and network services allow municipalities, businesses, and homeowners to monetize, track and report EV charger usage. TurnOnGreen charging systems maintain high standards in the market, are Energy Star Certified, and are backed by an internationally recognized certificate of safety and performance. "TurnOnGreen continues to build strategic partnerships across a variety of industries that enable TurnOnGreen to build EV charging infrastructure in regions where it is needed most," said Amos Kohn, TurnOnGreen’s Chief Executive Officer. "We are focused on addressing major growth markets in the EV charging space and providing long lasting infrastructure solutions that allow TurnOnGreen to build a large base of recurring revenue opportunities," added Mr. Kohn. According to a 2022 survey of 17,000 hotels in the American Hotel and Lodging Association, only 26.6% of all hotels had installed EV charging stations on their property. There are currently 110,721 hotels and motels in the United States as of 2023, an increase of 5.8% from 2022. The Hilton, Best Western and Marriott Hotel brands have recently introduced EV charging guidance for their existing and new properties to help guide the future implementation of EV charging infrastructure at a select number of their hotels across North America. For more information on TurnOnGreen’s product line, please visit TurnOnGreen.com . For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov . About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com . About TurnOnGreen TurnOnGreen Inc. (OTC: IMHC) designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen headquarters are located at Milpitas, CA; www.TurnOnGreen.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20231027210661/en/ Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235', 'Taiwan has introduced a crypto bill for its first reading to the Legislative Yuan, the country’s parliament, The Block reported , citing official records . See related article: Taiwan may mandate public servants to declare crypto holdings Fast facts The bill proposed Friday, mandates crypto platforms in Taiwan to apply for an operating permit. Failure to do so may result in a forced shutdown of their operations. Taiwan’s Financial Supervisory Commission last month rolled out guidelines prompting the local crypto industry to devise its own self-regulatory standards, according to the Block. Yung-Chang Chiang, one of the lawmakers backing the proposals, told the crypto media outlet that the “special law” would grant regulatory authorities the power to levy administrative penalties on entities flouting self-regulation rules. Chiang reportedly added that a date for the second reading has not been set. See related article: Taiwan tightens crypto governance, HK acts on JPEX; El Salvador stockpiles Bitcoin', 'Taiwan has introduced a crypto bill for its first reading to the Legislative Yuan, the country’s parliament, The Blockreported, citingofficial records.\nSee related article:Taiwan may mandate public servants to declare crypto holdings\n• The bill proposed Friday, mandates crypto platforms in Taiwan to apply for an operating permit. Failure to do so may result in a forced shutdown of their operations.\n• Taiwan’s Financial Supervisory Commission last month rolled out guidelines prompting the local crypto industry to devise its own self-regulatory standards, according to the Block.\n• Yung-Chang Chiang, one of the lawmakers backing the proposals, told the crypto media outlet that the “special law” would grant regulatory authorities the power to levy administrative penalties on entities flouting self-regulation rules.\n• Chiang reportedly added that a date for the second reading has not been set.\nSee related article:Taiwan tightens crypto governance, HK acts on JPEX; El Salvador stockpiles Bitcoin', 'Chicago, IL – October 27, 2023 – Zacks Equity Research shares Applied Industrial Technologies AIT as the Bull of the Day and CBRE Group CBRE as the Bear of the Day. In addition, Zacks Equity Research provides analysis on NVIDIA Corp. NVDA, Block Inc. SQ and Coinbase Global, Inc. COIN.\nHere is a synopsis of all five stocks.\nApplied Industrial Technologiesis a leading industrial distributor that provides critical components, equipment, and value-added services to a wide range of industries, from manufacturing to utilities. With a vast network of suppliers and locations, AIT offers its customers access to a broad product portfolio, including bearings, power transmission components, fluid power components, and industrial supplies.\nApplied Industrial Technology currently enjoys aZacks Rank #1 (Strong Buy)rating, indicating upward trending earnings revisions and improving the near-term odds of a move higher in the stock. However, AIT stock has put up incredible returns over the long-term as well.\nOver the last 25 years Applied Industrial Technology stock has compounded at an annual rate of 16.2%, double the average annual return on the S&P 500, and many multiples of total return.\nApplied Industrial Technologies’ earnings estimate have been on a steady climb higher over the last three years, along with its stock price.\nOver the last two months, current quarter earnings estimates have been revised higher by 0.5% and are expected to grow 5.1% YoY to $2.07 per share. FY23 earnings estimates have been increased by 1.3% over that same period and are forecast to climb 4.3% YoY to $9.13 per share.\nIn the chart below we can see that AIT has an FCF yield of 5.3%, which is above the industry average of 3.5% and a relatively high percentage in general. Furthermore, AIT has shown that it has maintained a history of positive free cash flow indicating financial discipline. The company has grown its annual FCF by a CAGR of 12.5% annually.\nIn what has developed into an increasingly more challenging and choppy market, AIT is showing considerable relative strength against the broad market. While the S&P 500 and leading stocks have been trading sideways to lower since mid-summer, Applied Industrial Technologies continues to hold up well, and has outperformed the market by almost 20% over that time.\nApplied Industrial Technologies is trading at a one year forward earnings multiple of 16.7x, which is below the industry average and in line with its 10-year median. Additionally, the company pays a dividend yield of 0.9% and has raised the payment by an average of 3.1% annually over the last five years.\nApplied Industrial Technologies is an incredibly durable company with a very long history of earnings growth. Since 1994 it has increased its EPS from $0.34 per share to $8.75, an incredible compound annual growth rate of 11.9%. Because it creates products that have been, and will continue to be used for many decades, the earnings growth can be expected to persist.\nThus, any investor looking for a conservative investment, that also has near term bullish catalysts should most certainly consider Applied Industrial Technologies.\nCBRE Groupis a global commercial real estate services and investment firm, headquartered in Dallas, Texas. It stands as the largest commercial real estate services company in the world. CBRE offers a broad range of services, including property management, investment management, and appraisal. The company serves clients across multiple sectors, including healthcare, retail, residential, and industrial. Known for its extensive market knowledge and expertise, CBRE operates through a network of offices in key cities around the globe, providing comprehensive solutions to real estate investors, owners, and occupiers.Although a very large and impressive firm, CBRE Group has not avoided the troubles in the commercial real estate market, an issue most investors have become all too familiar with in the last year. Fortunately for them, as more of a service provider than an investor they have been a bit less exposed to the issues in the industry, however they have been hit, nonetheless.\nBecause of these developments CBRE Group has received consistent earnings estimate downgrades over the past year, giving it aZacks Rank #5 (Strong Sell)rating. I think until earnings revisions begin to trend higher again, or the commercial real estate market finds a bottom, investors should avoid CBRE.\nAnalysts following CBRE Group have unanimously downgraded the stock, with the current quarter seeing some significant revisions lower. Current quarter earnings estimates have been lowered by -18.8% and are forecast to fall -42.5% YoY to $0.65 per share. FY23 earnings estimates have been revised lower by -10.7% and are projected to decline -31.1% YoY to $3.92 per share.\nThe company will manage to keep sales growth positive though, with current quarter expected to grow 1.35% YoY to $7.6 billion and FY23 to grow 2.2% to $31.5 billion.\nFurther bearish confirmation can be seen on CBRE Group’s stock chart. After trading lower all of 2022 and then trading in a wide consolidation all year, the price has moved below the key level of support at $66.50. If CBRE holds below this level, and closes the week and month down here, it could signal further downside.\nWhile CBRE Group is likely to eventually recover from this downtrend in stock price and earnings estimates, there may have to be some sort of event or catalyst to end it. For the time being, with interest rates as high as they are, the real estate market is going to be challenged, and CBRE will have to remain vigilant to stick around in this environment.\nThe Bitcoin (BTC) rally, which had stalled two months back after making a solid turnaround earlier this year, once again rebounded on Oct 24. The cryptocurrency jumped nearly 6% to $34,872 to hit its highest level in almost one-and-a-half years on growing speculation that Blackrock’s spot bitcoin exchange-traded fund (ETF) will soon be a reality.\nTuesday’s rally followed a 10% surge in Bitcoin on Oct 23, when it crossed the $35,000 mark. The enthusiasm surrounding Bitcoin sent other related stocks and major cryptocurrencies like Ethereum (ETH) on a rally. Ethereum prices jumped 4.5% on Oct 23 to $1,786.30, hitting its highest level since August.\nThe approval of a Bitcoin-backed exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) is expected to boost demand as it would enable more conservative investors to own Bitcoin and other cryptocurrencies via traditional stock markets.\nThe approval is also likely to attract new investments into the crypto sector, which could further boost demand.\nCryptocurrencies made a solid rebound in 2023 after suffering majorly last year as the Federal Reserve launched an aggressive monetary tightening campaign to curb multi-decade high inflation, which saw the central bank hiking interest rates by 525 basis points since March 2022.\nMoreover, a couple of unfortunate events, the Terra Luna crash and a major fraud leading to the bankruptcy of FTX, saw a slump in the crypto market.\nCryptocurrencies staged a solid rebound this year, with Bitcoin hitting $31,000 in early July before the rally came to a halt. Bitcoin price has since been rangebound and hovering around the $25,000 mark as investors struggled to gauge the Fed’s next move with its interest rate hike policy.\nHowever, renewed optimism among investors sent Bitcoin prices up last week after the Securities and Exchange Commission (SEC) decided not to appeal its loss against Grayscale Investments in the D.C. Circuit court.\nSpeculation is now rife that the modification made to the Registration Statement for the Ishares Bitcoin Trust, submitted to the SEC on Oct 18, suggests that Blackrock might buy Bitcoin this month to provide initial capital for its upcoming spot Bitcoin ETF.\nThis definitely bodes well for the crypto market.\nNVIDIA Corp.is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence, and the mining or production of cryptocurrencies.\nNVIDIA’s expected earnings growth rate for the current year is 221.6%. The Zacks Consensus Estimate for current-year earnings has improved 2.7% over the last 60 days. NVIDIA presently sports a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.\nBlock Inc.is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors.\nBlock has an expected earnings growth rate of 69% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 60 days. SQ currently carries a Zacks Rank #2 (Buy).\nCoinbase Global, Inc.offers financial infrastructure and technology to support the global cryptocurrency economy. COIN provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment.\nCoinbase Global’s expected earnings growth rate for the current year is 85.2%. The Zacks Consensus Estimate for current-year earnings has improved 2.8% over the last 60 days. Coinbase currently has a Zacks Rank #2.\nSince 2000, our top stock-picking strategies have blown away the S&P\'s +6.2 average gain per year. Amazingly, they soared with average gains of+46.4%, +49.5%and+55.2%per year. Today you can access their live picks without cost or obligation.\nSee Stocks Free >>\nMedia Contact\nZacks Investment Research\n800-767-3771 ext. 9339\nhttps://www.zacks.com\nZacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.\nPast performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index.Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\nNVIDIA Corporation (NVDA) : Free Stock Analysis Report\nApplied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report\nBlock, Inc. (SQ) : Free Stock Analysis Report\nCBRE Group, Inc. (CBRE) : Free Stock Analysis Report\nCoinbase Global, Inc. (COIN) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research', 'For Immediate Release Chicago, IL – October 27, 2023 – Zacks Equity Research shares Applied Industrial Technologies AIT as the Bull of the Day and CBRE Group CBRE as the Bear of the Day. In addition, Zacks Equity Research provides analysis on NVIDIA Corp. NVDA, Block Inc. SQ and Coinbase Global, Inc. COIN . Here is a synopsis of all five stocks. Bull of the Day: Applied Industrial Technologies is a leading industrial distributor that provides critical components, equipment, and value-added services to a wide range of industries, from manufacturing to utilities. With a vast network of suppliers and locations, AIT offers its customers access to a broad product portfolio, including bearings, power transmission components,
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-27
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $664,980,108,512
- Hash Rate: 467213155.1878341
- Transaction Count: 452816.0
- Unique Addresses: 801082.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.70
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: (Updates to U.S. market open)
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U.S. stocks rebound
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10-year Treasury yield stays below 5%
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Oil prices dip
By Lawrence Delevingne and Amanda Cooper
Oct 24 (Reuters) - Global stocks advanced on Tuesday as a flicker of investor risk appetite lifted equities, although trading was cautious given the war in the Middle East and looming make-or-break data for the outlook for U.S. interest rates.
Oil fell further after a flurry of weak economic data sketched a bearish picture which could weigh on oil demand, eclipsing worries that the Israel-Hamas war could escalate into a wider conflict in the crude-exporting region.
The U.S. dollar gained, while Bitcoin, which on Monday staged its biggest one-day rally in a year with a gain of 10.2%, was up another 4%.
Wall Street's main stock indexes all rose in morning trading. The Dow Jones Industrial Average rose 0.81%, to 33,202, the S&P 500 gained 0.74%, to 4,248 and the Nasdaq Composite added 0.73%, to 13,112.
The MSCI All-World index rose 0.4%, marking its first daily rise since Oct. 17, while an index of Asia-Pacific shares outside Japan edged above a one-year low.
Monthly surveys of business activity showed a decline in the euro zone and the UK in early October, ahead of a separate report due out later for the United States.
"The only real growth that is out there is in the United States," TraderX strategist Michael Brown said, flagging the monthly U.S. purchasing manager index (PMI) survey due later.
"I would expect that is going to really reinforce that message. The risks facing the euro zone were pretty significant already, before everything kicked off in the Middle East, but now we are potentially looking at a second consecutive winter where the euro zone is having to grapple with an energy shock," he said.
The STOXX 600 was little changed, as declines in banking shares such as Barclays were offset by gains in the likes of luxury group LVMH and Swiss computer parts maker Logitech.
Investors do not expect the European Central Bank to raise interest rates when it meets this week, but are still prepared for borrowing costs to remain high for a long time.
"The looming spectre of inflation grows even more imposing, especially considering the recent sharp ascent in oil prices," said Dalma Capital Chief Investment Officer Gary Dugan.
"If oil prices persist at this level throughout the rest of 2023 and into 2024, this could potentially inject another bout of inflation into the global economy."
THE 5% CLUB
Global bond yields have surged higher in recent weeks, in part because of a growing belief that central banks will have no room to cut interest rates until well into 2024.
The run-up in yields on the 10-year Treasury note to 5% on Monday is a reflection of this belief. The 10-year note was last yielding 4.855%, up 1.5 basis points on the day.
BlackRock Chief Executive Larry Fink said he believed U.S. rates would stay higher for longer, given the amount of fiscal stimulus entering an already resilient economy, and robust wage growth.
"I do believe the Federal Reserve will have to raise rates higher, which probably will mean that by 2025 we may have a soft landing, we may have hard landing. That is the only way that I see that we’ll be arresting this. But I don’t expect it any time soon," Fink said at a gathering of financial leaders in Riyadh on Tuesday.
Investor attention will be split this week between the earnings of high-profile companies, such as Microsoft, Facebook parent Meta Platforms and Amazon, as well as a slew of economic data ahead of the Fed's meeting from Oct. 31 to Nov. 1.
Third-quarter gross domestic product data on Thursday, along with the Personal Consumption Expenditures (PCE) report, the U.S. central bank's preferred inflation gauge, on Friday, could help shape medium-term expectations for U.S. rates.
In the currency market, the dollar rose 0.36% against a basket of currencies, partially reversing Monday's 0.5% drop.
The yen held steady against the dollar, but was not too far away from 150 per dollar - a level markets believe could prompt Japanese authorities to intervene to prop up the currency. Against the yen, the dollar was steady at 149.80.
"We believe this current dollar weakness is corrective in nature," Brown Brothers Harriman & Co. strategists wrote in a note Tuesday. "Looking beyond the current noise related to dovish Fed comments, nothing fundamentally has changed and we see no reason to believe the dollar’s uptrend has ended."
In cryptocurrencies, bitcoin rose to 18-month highs, as speculation about the possibility of an exchange-traded fund drove enthusiasm and prompted short-sellers to exit positions. The world's biggest cryptocurrency traded as high as $35,198, before easing to $34,383, up about 4% on the day.
Oil prices were
dipped
on Tuesday following the previous session's delined after a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture which could weigh on oil demand. U.S. crude fell 0.57% to $85.00 per barrel and Brent was at $89.36, down 0.52% on the day.
Spot gold
dropped 0.5% to $1,963.10 an ounce.
(Reporting by Lawrence Delevingne in Boston and Amanda Cooper in London. Additional reporting by Ankur Banerjee in Singapore Editing by Mike Harrison, Mark Potter and Toby Chopra)...
- Reddit Posts (Sample): no_data...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["NEW YORK , Oct. 27, 2023 /PRNewswire/ -- The global cryptocurrency market size is estimated to grow by USD 1,815.78 million from 2022\xa0to 2027, according to Technavio. The market is estimated to grow at a CAGR of 15.81% during the forecast period. North America is estimated to account for 48% of the global market growth during the forecast period.\xa0The rising\xa0demand for digital payments boosted the growth of the North American cryptocurrency market\xa0in 2022. The US\xa0is one of the top countries and is considered to be at the forefront of technological progress\xa0in digital\xa0currencies. Owing\xa0to the presence of multiple market players and new\xa0innovations in\xa0the region,\xa0North America holds the largest share of the cryptocurrency market. Hence, such factors drive regional growth during the forecast period. For more insights on the historical period (2017 to 2021) and forecast market size (2023\xa0to 2027)\xa0- Request a sample report Technavio has announced its latest market research report titled Global Cryptocurrency Market 2023-2027 What's New? Special coverage on the Russia - Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession Global competitiveness and key competitor positions Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report! Cryptocurrency Market - Segmentation Assessment Segment Overview Technavio has segmented the market based on\xa0Type ( bitcoin , ethereum , and others), Component (hardware and software), and Geography ( North America , Europe , APAC, South America , and Middle East and Africa ). The market share growth by the bitcoin segment will be significant for overall market growth during the forecast period. Bitcoin , which is known to\xa095% of cryptocurrency owners and prospects,\xa0has the largest market capitalization, more than double that of its closest competitor, Ethereum . Furthermore, Tether , USD Coin, Binance USD, and DAI are his four cryptocurrencies in the top 20 pegged\xa0directly to\xa0the value of the US dollar. About 8% of people in the US trade cryptocurrencies . This is created, stored, processed, and shared using a decentralized system called\xa0a\xa0blockchain. Hence,\xa0given the high popularity of Bitcoin , the global cryptocurrency market is expected to witness significant growth during the forecast period. Story continues Insights on the market contribution of various segments including country and region wise\xa0historic data (2017 to 2021), and forecast market size (2023\xa0to 2027)\xa0- Download a Sample Report Cryptocurrency Market – Market Dynamics Key factors driving market growth Rising investment in digital assets is one of the major drivers for the cryptocurrency market's growth. Cryptocurrencies are becoming more popular in the global market for digital assets. This is because digital assets\xa0allow rapid\xa0transfer of\xa0ownership without\xa0the need for paper copies of documents. For instance,\xa0a digital asset owner can quickly transfer ownership to a new owner or purchaser when the asset is purchased through NFT. Additionally, since\xa0many people interact with digital assets every day, from investing in crypto as a digital asset to digitizing existing investment assets, digital assets become integrated into the existing network of traditional financial markets. Hence, such factors drive market growth for cryptocurrency during the forecast period. Leading trends influencing the market The rising inclination for digital currency is one of the major cryptocurrency market trends that propel the market growth. Digital currencies offer the potential for faster and cheaper bank transfers, accelerating e-commerce, increasing the number of financial transactions in low-income countries, and increasing international money transfers. Thus\xa0it\xa0has\xa0the potential to change the world. Furthermore, no interbank payments are required as the system exchanges digital currencies instead of bank deposits like cash. Hence, such trends drive the market growth of cryptocurrency during the forecast period. Major challenges hindering the market growth Volatility in the value of cryptocurrency is one of the major challenges limiting the cryptocurrency market's growth. The value of cryptocurrencies is highly volatile, and therefore, low-risk investors do not include cryptocurrencies in their financial portfolios.\xa0The volatility in value is large because cryptocurrencies are being held by a limited number of people who buy and sell in bulk on trading platforms and exchanges. For instance, in June 2022 , Bitcoin lost more than 10% of its value in one day, which\xa0is a significant drop from November 2021 when Bitcoin was worth USD 69,000 per token. Furthermore,\xa0the lack of transaction charges, position charges, trade posting fees, and regulations on trading platforms also causes volatility in the value of cryptocurrency . Hence, such challenges impede market growth during the forecast period. Insights on Market Drivers, trends, & Challenges, historical period(2017 to 2021), and forecast period(2023 to 2027)- Request a\xa0sample report! What are the key data covered in this Cryptocurrency Market report? CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the cryptocurrency market between 2023 and 2027 Precise estimation of the size of the cryptocurrency market and its contribution to the market with a focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the cryptocurrency market across North America , Europe , APAC, South America , and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of cryptocurrency market vendors Gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform Related Reports: The currency counting machine market is estimated to grow at a\xa0CAGR of 14.61%\xa0between 2022 and 2027. The size of the market is forecast to increase by\xa0USD 625.77 million.\xa0This report extensively covers market\xa0segmentation by end-user (BFSI, retail, and commercial), type (basic note counter, hi-speed heavy-duty cash counting, and intelligent counting cum counterfeit detection machines), and geography (APAC, North America , Europe , Middle East and Africa , and South America ).\xa0The increase in the circulation\xa0of counterfeit currency is notably driving the currency counting machine market growth. The cryptocurrency mining hardware market is estimated to grow at a CAGR of 11.35% between 2022 and 2027. The size of the market is forecast to increase by USD\xa012053.16 million.\xa0This report extensively covers market segmentation by product ( ASIC , GPU, and others), application ( bitcoin mining, ethereum mining, and others), and geography (APAC, North America , Europe , Middle East , and Africa , and South America ).\xa0The\xa0profitability of cryptocurrency mining ventures is\xa0notably driving the cryptocurrency mining hardware market growth. Cryptocurrency Market Scope Report Coverage Details Base year 2022 Historic period 2017-2021 Forecast period 2023-2027 Growth momentum & CAGR Accelerate at a CAGR of 15.81% Market growth 2023-2027 USD 1,815.78 million Market structure Fragmented YoY growth 2022-2023\xa0(%) 14.37 Regional analysis North America, Europe, APAC, South America, and Middle East and Africa Performing market contribution North America at 48% Key countries US, China, UK, Germany, and Switzerland, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea Competitive landscape Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks Key companies profiled Advanced Micro Devices Inc., AlphaPoint Corp., Binance Holdings Ltd., Bitfury Group Ltd., BitGo Inc., BitMain Group, Bitstamp Europe SA, BlockFi Inc., Coinbase Global Inc., ConsenSys Software Inc., iFinex Inc., Intel Corp., KuCoin, Ledger SAS, Microsoft Corp., Money Group Inc., New Bit Ventures Ltd., NVIDIA Corp., Ripple Labs Inc., and Xapo Bank Ltd. Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Table of Contents 1 Executive Summary 1.1 Market overview 2 Market Landscape 2.1 Market ecosystem 3 Market Sizing 3.1 Market definition 3.2 Market segment analysis 3.3 Market size 2022 3.4 Market outlook: Forecast for 2022-2027 4 Historic Market Size 4.1 Global cryptocurrency market 2017 - 2021 4.2 Type Segment Analysis 2017 - 2021 4.3 Component Segment Analysis 2017 - 2021 4.4 Geography Segment Analysis 2017 - 2021 4.5 Country Segment Analysis 2017 - 2021 5 Five Forces Analysis 5.1 Five forces summary 5.2 Bargaining power of buyers 5.3 Bargaining power of suppliers 5.4 Threat of new entrants 5.5 Threat of substitutes 5.6 Threat of rivalry 5.7 Market condition 6 Market Segmentation by Type 6.1 Market segments 6.2 Comparison by Type 6.3 Bitcoin - Market size and forecast 2022-2027 6.4 Ethereum - Market size and forecast 2022-2027 6.5 Others - Market size and forecast 2022-2027 6.6 Market opportunity by Type 7 Market Segmentation by Component 7.1 Market segments 7.2 Comparison by Component 7.3 Hardware - Market size and forecast 2022-2027 7.4 Software - Market size and forecast 2022-2027 7.5 Market opportunity by Component 8 Customer Landscape 8.1 Customer landscape overview 9 Geographic Landscape 9.1 Geographic segmentation 9.2 Geographic comparison 9.3 North America - Market size and forecast 2022-2027 9.4 Europe - Market size and forecast 2022-2027 9.5 APAC - Market size and forecast 2022-2027 9.6 South America - Market size and forecast 2022-2027 9.7 Middle East and Africa - Market size and forecast 2022-2027 9.8 US - Market size and forecast 2022-2027 9.9 UK - Market size and forecast 2022-2027 9.10 China - Market size and forecast 2022-2027 9.11 Germany - Market size and forecast 2022-2027 9.12 Switzerland - Market size and forecast 2022-2027 9.13 Market opportunity by geography 10 Drivers, Challenges, and Trends 10.1 Market drivers 10.2 Market challenges 10.3 Impact of drivers and challenges 10.4 Market trends 11 Vendor Landscape 11.1 Overview 11.2 Vendor landscape 11.3 Landscape disruption 11.4 Industry risks 12 Vendor Analysis 12.1 Vendors covered 12.2 Market positioning of vendors 12.3 Advanced Micro Devices Inc. 12.4 AlphaPoint Corp. 12.5 Binance Holdings Ltd. 12.6 Bitfury Group Ltd. 12.7 BitGo Inc. 12.8 BitMain Group 12.9 Bitstamp Europe SA 12.10 Coinbase Global Inc. 12.11 ConsenSys Software Inc. 12.12 Intel Corp. 12.13 Microsoft Corp. 12.14 Money Group Inc. 12.15 NVIDIA Corp. 12.16 Ripple Labs Inc. 12.17 Xapo Bank Ltd. 13 Appendix 13.1 Scope of the report 13.2 Inclusions and exclusions checklist 13.3 Currency conversion rates for USUSD 13.4 Research methodology 13.5 List of abbreviations About US Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com Global Cryptocurrency Market 2023-2027 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cryptocurrency-market-size-is-set-to-grow-by-usd-1-815-78-million-from-2022-to-2027--technavio-301969684.html SOURCE Technavio", "NEW YORK , Oct. 27, 2023 /PRNewswire/ -- The global cryptocurrency market size is estimated to grow by USD 1,815.78 million from 2022\xa0to 2027, according to Technavio. The market is estimated to grow at a CAGR of 15.81% during the forecast period. North America is estimated to account for 48% of the global market growth during the forecast period.\xa0The rising\xa0demand for digital payments boosted the growth of the North American cryptocurrency market\xa0in 2022. The US\xa0is one of the top countries and is considered to be at the forefront of technological progress\xa0in digital\xa0currencies. Owing\xa0to the presence of multiple market players and new\xa0innovations in\xa0the region,\xa0North America holds the largest share of the cryptocurrency market. Hence, such factors drive regional growth during the forecast period. For more insights on the historical period (2017 to 2021) and forecast market size (2023\xa0to 2027)\xa0- Request a sample report Technavio has announced its latest market research report titled Global Cryptocurrency Market 2023-2027 What's New? Special coverage on the Russia - Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession Global competitiveness and key competitor positions Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report! Cryptocurrency Market - Segmentation Assessment Segment Overview Technavio has segmented the market based on\xa0Type ( bitcoin , ethereum , and others), Component (hardware and software), and Geography ( North America , Europe , APAC, South America , and Middle East and Africa ). The market share growth by the bitcoin segment will be significant for overall market growth during the forecast period. Bitcoin , which is known to\xa095% of cryptocurrency owners and prospects,\xa0has the largest market capitalization, more than double that of its closest competitor, Ethereum . Furthermore, Tether , USD Coin, Binance USD, and DAI are his four cryptocurrencies in the top 20 pegged\xa0directly to\xa0the value of the US dollar. About 8% of people in the US trade cryptocurrencies . This is created, stored, processed, and shared using a decentralized system called\xa0a\xa0blockchain. Hence,\xa0given the high popularity of Bitcoin , the global cryptocurrency market is expected to witness significant growth during the forecast period. Story continues Insights on the market contribution of various segments including country and region wise\xa0historic data (2017 to 2021), and forecast market size (2023\xa0to 2027)\xa0- Download a Sample Report Cryptocurrency Market – Market Dynamics Key factors driving market growth Rising investment in digital assets is one of the major drivers for the cryptocurrency market's growth. Cryptocurrencies are becoming more popular in the global market for digital assets. This is because digital assets\xa0allow rapid\xa0transfer of\xa0ownership without\xa0the need for paper copies of documents. For instance,\xa0a digital asset owner can quickly transfer ownership to a new owner or purchaser when the asset is purchased through NFT. Additionally, since\xa0many people interact with digital assets every day, from investing in crypto as a digital asset to digitizing existing investment assets, digital assets become integrated into the existing network of traditional financial markets. Hence, such factors drive market growth for cryptocurrency during the forecast period. Leading trends influencing the market The rising inclination for digital currency is one of the major cryptocurrency market trends that propel the market growth. Digital currencies offer the potential for faster and cheaper bank transfers, accelerating e-commerce, increasing the number of financial transactions in low-income countries, and increasing international money transfers. Thus\xa0it\xa0has\xa0the potential to change the world. Furthermore, no interbank payments are required as the system exchanges digital currencies instead of bank deposits like cash. Hence, such trends drive the market growth of cryptocurrency during the forecast period. Major challenges hindering the market growth Volatility in the value of cryptocurrency is one of the major challenges limiting the cryptocurrency market's growth. The value of cryptocurrencies is highly volatile, and therefore, low-risk investors do not include cryptocurrencies in their financial portfolios.\xa0The volatility in value is large because cryptocurrencies are being held by a limited number of people who buy and sell in bulk on trading platforms and exchanges. For instance, in June 2022 , Bitcoin lost more than 10% of its value in one day, which\xa0is a significant drop from November 2021 when Bitcoin was worth USD 69,000 per token. Furthermore,\xa0the lack of transaction charges, position charges, trade posting fees, and regulations on trading platforms also causes volatility in the value of cryptocurrency . Hence, such challenges impede market growth during the forecast period. Insights on Market Drivers, trends, & Challenges, historical period(2017 to 2021), and forecast period(2023 to 2027)- Request a\xa0sample report! What are the key data covered in this Cryptocurrency Market report? CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the cryptocurrency market between 2023 and 2027 Precise estimation of the size of the cryptocurrency market and its contribution to the market with a focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the cryptocurrency market across North America , Europe , APAC, South America , and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of cryptocurrency market vendors Gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform Related Reports: The currency counting machine market is estimated to grow at a\xa0CAGR of 14.61%\xa0between 2022 and 2027. The size of the market is forecast to increase by\xa0USD 625.77 million.\xa0This report extensively covers market\xa0segmentation by end-user (BFSI, retail, and commercial), type (basic note counter, hi-speed heavy-duty cash counting, and intelligent counting cum counterfeit detection machines), and geography (APAC, North America , Europe , Middle East and Africa , and South America ).\xa0The increase in the circulation\xa0of counterfeit currency is notably driving the currency counting machine market growth. The cryptocurrency mining hardware market is estimated to grow at a CAGR of 11.35% between 2022 and 2027. The size of the market is forecast to increase by USD\xa012053.16 million.\xa0This report extensively covers market segmentation by product ( ASIC , GPU, and others), application ( bitcoin mining, ethereum mining, and others), and geography (APAC, North America , Europe , Middle East , and Africa , and South America ).\xa0The\xa0profitability of cryptocurrency mining ventures is\xa0notably driving the cryptocurrency mining hardware market growth. Cryptocurrency Market Scope Report Coverage Details Base year 2022 Historic period 2017-2021 Forecast period 2023-2027 Growth momentum & CAGR Accelerate at a CAGR of 15.81% Market growth 2023-2027 USD 1,815.78 million Market structure Fragmented YoY growth 2022-2023\xa0(%) 14.37 Regional analysis North America, Europe, APAC, South America, and Middle East and Africa Performing market contribution North America at 48% Key countries US, China, UK, Germany, and Switzerland, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea Competitive landscape Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks Key companies profiled Advanced Micro Devices Inc., AlphaPoint Corp., Binance Holdings Ltd., Bitfury Group Ltd., BitGo Inc., BitMain Group, Bitstamp Europe SA, BlockFi Inc., Coinbase Global Inc., ConsenSys Software Inc., iFinex Inc., Intel Corp., KuCoin, Ledger SAS, Microsoft Corp., Money Group Inc., New Bit Ventures Ltd., NVIDIA Corp., Ripple Labs Inc., and Xapo Bank Ltd. Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Table of Contents 1 Executive Summary 1.1 Market overview 2 Market Landscape 2.1 Market ecosystem 3 Market Sizing 3.1 Market definition 3.2 Market segment analysis 3.3 Market size 2022 3.4 Market outlook: Forecast for 2022-2027 4 Historic Market Size 4.1 Global cryptocurrency market 2017 - 2021 4.2 Type Segment Analysis 2017 - 2021 4.3 Component Segment Analysis 2017 - 2021 4.4 Geography Segment Analysis 2017 - 2021 4.5 Country Segment Analysis 2017 - 2021 5 Five Forces Analysis 5.1 Five forces summary 5.2 Bargaining power of buyers 5.3 Bargaining power of suppliers 5.4 Threat of new entrants 5.5 Threat of substitutes 5.6 Threat of rivalry 5.7 Market condition 6 Market Segmentation by Type 6.1 Market segments 6.2 Comparison by Type 6.3 Bitcoin - Market size and forecast 2022-2027 6.4 Ethereum - Market size and forecast 2022-2027 6.5 Others - Market size and forecast 2022-2027 6.6 Market opportunity by Type 7 Market Segmentation by Component 7.1 Market segments 7.2 Comparison by Component 7.3 Hardware - Market size and forecast 2022-2027 7.4 Software - Market size and forecast 2022-2027 7.5 Market opportunity by Component 8 Customer Landscape 8.1 Customer landscape overview 9 Geographic Landscape 9.1 Geographic segmentation 9.2 Geographic comparison 9.3 North America - Market size and forecast 2022-2027 9.4 Europe - Market size and forecast 2022-2027 9.5 APAC - Market size and forecast 2022-2027 9.6 South America - Market size and forecast 2022-2027 9.7 Middle East and Africa - Market size and forecast 2022-2027 9.8 US - Market size and forecast 2022-2027 9.9 UK - Market size and forecast 2022-2027 9.10 China - Market size and forecast 2022-2027 9.11 Germany - Market size and forecast 2022-2027 9.12 Switzerland - Market size and forecast 2022-2027 9.13 Market opportunity by geography 10 Drivers, Challenges, and Trends 10.1 Market drivers 10.2 Market challenges 10.3 Impact of drivers and challenges 10.4 Market trends 11 Vendor Landscape 11.1 Overview 11.2 Vendor landscape 11.3 Landscape disruption 11.4 Industry risks 12 Vendor Analysis 12.1 Vendors covered 12.2 Market positioning of vendors 12.3 Advanced Micro Devices Inc. 12.4 AlphaPoint Corp. 12.5 Binance Holdings Ltd. 12.6 Bitfury Group Ltd. 12.7 BitGo Inc. 12.8 BitMain Group 12.9 Bitstamp Europe SA 12.10 Coinbase Global Inc. 12.11 ConsenSys Software Inc. 12.12 Intel Corp. 12.13 Microsoft Corp. 12.14 Money Group Inc. 12.15 NVIDIA Corp. 12.16 Ripple Labs Inc. 12.17 Xapo Bank Ltd. 13 Appendix 13.1 Scope of the report 13.2 Inclusions and exclusions checklist 13.3 Currency conversion rates for USUSD 13.4 Research methodology 13.5 List of abbreviations About US Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com Global Cryptocurrency Market 2023-2027 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cryptocurrency-market-size-is-set-to-grow-by-usd-1-815-78-million-from-2022-to-2027--technavio-301969684.html SOURCE Technavio", '• US stocks traded mixed on Friday as investors took in fresh inflation data and corporate earnings.\n• The Fed\'s preferred inflation measure was in line with economists\' expectations.\n• All three benchmark indexes notched weekly losses, with the S&P 500 sliding into correction territory.\nUS stocks traded mixed on Friday as investors took in fresh inflation data and more corporate earnings reports.\nThe Dow Jones Industrial Average slid over 300 points, while the S&P 500 entered correction territory after slipping 10% from its recent peak. All three benchmark indexes notched weekly losses.\nThe PCE price index, the Fed\'s preferred inflation measure, rose 0.3% last month and 3.7% year over year, the Commerce Department reported on Friday. Meanwhile, real consumer spending jumped 0.4% last month, hinting at consumer strength that could stoke inflation further.\n"Consumers are spending more than they are earning. Adjusted for inflation, consumers increased spending in each of the last three months while real disposable income fell over the same period. Clearly, this can\'t last much longer," LPL Financial chief economist Jeffrey Roach said in a statement.\nInvestors also digested the latest wave of corporate earnings this week, with Amazon jumping 6% after a stellar third-quarter earnings report. Other mega-cap tech firms, though, like Alphabet and Meta slid this week.\nHere\'s where US indexes stood at the 4:00 p.m. closing bell on Friday:\n• S&P 500:4,117.37, down 0.48%\n• Dow Jones Industrial Average:32,417.59, down 1.12% (366.71 points)\n• Nasdaq Composite:12,643.01, up 0.38%\nHere\'s what else happened today:\n• The S&P 500 will rocket 18% by year-endas the economy stays strong and the Fed ends interest rate hikes, according to Oppenheimer\'s investment chief.\n• The S&P 500 could fall another 5% and test a critical support level, Bank of America warned.\n• Treasury Secretary Janet Yellen said surging bond yields are due to the strong economy, not the growing deficit.\n• Treasury bonds are yielding the same as the highest dividends paid by S&P 500 firms, Goldman Sachs said.\n• JPMorgan CEO Jamie Dimon just trimmed his stakein the lender for the first time.\n• Hedge fund billionaire Steve Cohen expects a recession to come and go quicklybefore a stock market rally.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil rose 2.08% to $84.94 a barrel.Brent crude, the international benchmark, slipped 0.62% to $88.65 a barrel.\n• Goldclimbed 1.08% to $2,006.69 per ounce.\n• The 10-year Treasury yield traded flat around 4.841%.\n• Bitcoinslipped 0.87% to $33,657.\nRead the original article onBusiness Insider', 'AP US stocks traded mixed on Friday as investors took in fresh inflation data and corporate earnings. The Fed\'s preferred inflation measure was in line with economists\' expectations. All three benchmark indexes notched weekly losses, with the S&P 500 sliding into correction territory. US stocks traded mixed on Friday as investors took in fresh inflation data and more corporate earnings reports. The Dow Jones Industrial Average slid over 300 points, while the S&P 500 entered correction territory after slipping 10% from its recent peak. All three benchmark indexes notched weekly losses. The PCE price index, the Fed\'s preferred inflation measure, rose 0.3% last month and 3.7% year over year, the Commerce Department reported on Friday. Meanwhile, real consumer spending jumped 0.4% last month, hinting at consumer strength that could stoke inflation further. "Consumers are spending more than they are earning. Adjusted for inflation, consumers increased spending in each of the last three months while real disposable income fell over the same period. Clearly, this can\'t last much longer," LPL Financial chief economist Jeffrey Roach said in a statement. Investors also digested the latest wave of corporate earnings this week, with Amazon jumping 6% after a stellar third-quarter earnings report. Other mega-cap tech firms, though, like Alphabet and Meta slid this week. Here\'s where US indexes stood at the 4:00 p.m. closing bell on Friday: S&P 500 : 4,117.37, down 0.48% Dow Jones Industrial Average : 32,417.59, down 1.12% (366.71 points) Nasdaq Composite : 12,643.01, up 0.38% Here\'s what else happened today: The S&P 500 will rocket 18% by year-end as the economy stays strong and the Fed ends interest rate hikes, according to Oppenheimer\'s investment chief. The S&P 500 could fall another 5% and test a critical support level , Bank of America warned. Treasury Secretary Janet Yellen said surging bond yields are due to the strong economy, not the growing deficit . Treasury bonds are yielding the same as the highest dividends paid by S&P 500 firms , Goldman Sachs said. JPMorgan CEO Jamie Dimon just trimmed his stake in the lender for the first time. Hedge fund billionaire Steve Cohen expects a recession to come and go quickly before a stock market rally. Story continues In commodities, bonds, and crypto: West Texas Intermediate crude oil rose 2.08% to $84.94 a barrel. Brent crude , the international benchmark, slipped 0.62% to $88.65 a barrel. Gold climbed 1.08% to $2,006.69 per ounce. The 10-year Treasury yield traded flat around 4.841%. Bitcoin slipped 0.87% to $33,657. Read the original article on Business Insider', "Participants Bryan Joseph Edmiston; CFO; WisdomTree, Inc. Jeremy D. Schwartz; Global CIO; WisdomTree Asset Management, Inc. Jeremy Edward Campbell; Director of IR; WisdomTree, Inc. Jessica Zaloom; Head of Corporate Communications & Public Relations; WisdomTree, Inc. Jonathan Laurence Steinberg; Founder, CEO & Director; WisdomTree, Inc. Robert Jarrett Lilien; President & COO; WisdomTree, Inc. Unidentified Company Representative William Bradley Peck; Head of Digital Assets; WisdomTree, Inc. Adam Quincy Beatty; Equity Research Analyst of Financials for Brokers and Asset Managers; UBS Investment Bank, Research Division Christoph M. Kotowski; MD & Senior Analyst; Oppenheimer & Co. Inc., Research Division Michael C. Brown; MD; Keefe, Bruyette, & Woods, Inc., Research Division Presentation Operator Greetings, and welcome to the WisdomTree Third Quarter 2023 Earnings Call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to turn it over to Jessica Zaloom, Head of Corporate Communications, to begin. Thank you. Jessica Zaloom Good morning. Before we begin, I would like to reference our legal disclaimer available in today's presentation. This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. A number of factors could cause actual results to differ materially from the results discussed in forward-looking statements, including, but not limited to, the risks set forth in this presentation and in the Risk Factors section of the WisdomTree's annual report on Form 10-K for the year ended December 31, 2022. WisdomTree assumes no duty and does not undertake to update any forward-looking statements. Now it is my pleasure to turn the call over to WisdomTree's CFO, Bryan Edmiston. Bryan Joseph Edmiston Thank you, Jessica, and good morning, everyone. We ended the quarter with $93.7 billion of AUM, unchanged from the prior quarter as our inflows served to offset unfavorable market conditions. We generated $2 billion of inflows in the quarter, which were broad and diverse across 7 of our 8 product categories. Diversification is driving year-to-date average fee capture on our flows upward, which was more than 2x greater than our fee capture in the prior year. Our flows are strong and stable as it has been -- now been 12 consecutive quarters of flowing positive. Our year-to-date flows through September of $10.7 billion translates into a 17% annualized organic flow growth rate. Our AUM currently stands at $94.1 billion, slightly higher from the end of September, having benefited from further inflows. Next slide. Revenues were $90.4 million, an increase of 5.5% from the second quarter and up 24.9% versus the prior year quarter. Our revenues are growing and our margins are expanding. Our operating margin in the third quarter was 29.5% as compared to 20.5% in the third quarter of last year. Our margins have benefited by the settlement of our contractual gold payment obligation last quarter, which has been a meaningful contributor to this expansion, but not the only contributor. When excluding the impact of the gold royalty buyout, our margins have expanded 330 basis points versus the third quarter of last year, demonstrating the scalability of our business model. This margin expansion is translating into earnings per share growth. Our adjusted net income was $18 million or $0.10 a share. Next slide. Our adjusted operating expenses were up 1.7% for the quarter. This was driven primarily by higher incentive compensation as well as higher third-party distribution fees payable to our marketing agent in Latin America as we have experienced roughly 70% AUM growth in the region since the beginning of the year. These increases were partly offset by lower contractual gold payments and marketing expenses. Next slide. Now a few comments on our forecasted expense guidance. Variability in our compensation expense is driven by our performance-based compensation plans, which consider our organic growth, revenue growth, margin expansion and our share price performance in relation to our peers, whereby we currently rank #1 out of 13. Given our performance to date, we anticipate our compensation expense to be near the high end of our guidance range. We anticipate our discretionary spending to be near the high end of our guidance range as well, having recognized $43.4 million in discretionary spending year-to-date and forecasted Q4 seasonal spend. We reported a gross margin of 80.1% in the third quarter, and we are updating our gross margin guidance to be between 79% -- and 80% from 79%, which we believe should be sustainable at current AUM levels. Our forecasted third-party distribution expenses being updated to be between $9 million and $10 million, driven largely by the growth we are experiencing in Latin America. And our interest income is trending higher, given the magnitude of our invested assets and higher interest rates. We now anticipate our interest income to be between $3.5 million to $4 million for the year. That's all I have. I will now turn the call over to Jarrett. Story continues Robert Jarrett Lilien Thank you, Bryan, and good morning, everyone. Our strategy continues to be clear and straightforward, which is to deliver industry-leading organic growth to expand our operating margins and to lead the industry's evolution in tokenized assets and blockchain-enabled finance. In each quarter, we consistently deliver results against this strategy as we did again this quarter. In the third quarter, we generated nearly $2 billion of net inflows, our 12th consecutive quarter of net inflows. Year-to-date, we've now generated approximately $11 billion of net inflows, representing a 17% annualized organic growth rate, which continues to be best-in-class among all publicly traded U.S. asset managers. And we have confidence that our 3 years of momentum will continue. Our existing clients continue to grow in average size, while also utilizing more of our products and services. In other words, our client relationships are becoming larger, broader and deeper. In addition, we are adding new clients at a double-digit rate. Taken together, we have multiple growth cylinders working together. A great example is our experience with our U.S. Floating Rate Treasury Fund, USFR. While driving strong flows, it's also driving new customers. Roughly 40% of advisors buying USFR are first-time users of WisdomTree products and services, and we are already seeing a development path where these advisors are expanding their relationship with WisdomTree into additional products like our quality dividend growth front and our Managed Model solutions. Well, speaking of models, while they're still in the early innings of growth, they continue to be one of the largest and longest growth runways we have. Here, our strategy is 2-fold. First, it is to continue to build a large group of recurring model users at large distribution partners; and second is to pursue the RIA, an independent broker-dealer channel with a more customized model approach that will allow us to manage a majority of those firms' assets. Today, our models are available on some of the largest distribution platforms in U.S. Wealth Management, including Merrill, Morgan Stanley, LPL, Castra, Cetera and Schwab. In total, over 65,000 advisors have access to our models at these firms, and there is a long growth runway ahead. At Merrill, for example, our model assets are now over $0.5 billion with approximately 850 advisors using at least 1 of our 7 available models and nearly 60% of those advisors having more than one client in our models. Both the AUM and the number of advisors had doubled from this time last year. Likewise, we've launched Managed Models at LPL earlier this summer. And as of the end of September, well, from a lower base, we've already doubled our model assets from June levels. Once again, our client relationships are becoming larger, broader and deeper. Outside the very large distribution networks, our strategy is to provide a bespoke model's experience for the broad RIA and independent broker-dealer marketplace. About 1 year ago, we launched our portfolio and growth solutions effort that offers a custom model experience together with automated trading and rebalancing services, which is essentially an easy button for implementation of WisdomTree's Managed Models. To date, we've onboarded 8 clients ranging in size from $100 billion to $1 billion in assets. But more importantly, we have a pipeline of over 60 RIAs and IBDs representing potential partners with over $60 billion in assets under management. Overall, WisdomTree is well-positioned with the large distribution platforms and has a differentiated approach to the RIA and IBD market. We continue to score wins in the model space and have a clear and strong line of sight for continued organic growth. And given our high incremental margins, all of this growth continues and will continue to grow our operating margins. The third quarter saw operating margins expand by 900 basis points versus the year ago period. As Bryan has highlighted, roughly 570 basis points of this increase was driven by management proactively resolving our gold obligation, while another 330 basis points was driven by enhanced operational efficiencies and organic growth on top of our scalable operating model. Meanwhile, we continue to make significant and steady progress with WisdomTree Prime with a growing product and feature set now available in 33 states. All in all, these are exciting times at WisdomTree as we continue to deliver industry-leading organic growth. We continue to expand our operating margins, and we continue to lead the industry's evolution in tokenized assets and blockchain-enabled finance. With that, let me now turn it over to [Jono]. Jonathan Laurence Steinberg Thank you, [Jarrett], and good morning, everyone. I'm very proud of WisdomTree's ability to execute on our goals to drive positive results. As Bryan and Jarrett discussed earlier, we have strong momentum in our business today and high confidence that the strength will persist for the coming quarters and years. Our foundation has never been stronger with approximately $95 billion in assets under management. We've achieved asset diversification, also geographic diversification. Our models and solutions business is world-class as we've been added to almost every major platform in just the last few years. Our integration of technology into every aspect of our business is why WisdomTree can do more on less resources than any other asset manager, all of this against the backdrop of over $11 billion in year-to-date inflows on top of last year's over $12 billion in inflows. It has truly been a team effort, and I'm very proud of WisdomTree's workforce and our unique culture. It is from this very strong foundation we've been able to leverage the skill set of our entire company from product, legal, research, Ops, tech, et cetera, alongside a dedicated and focused digital asset team to cement our first-mover status in tokenization and launch WisdomTree Prime. Starting with WisdomTree Prime, last quarter, we announced the launch of our mobile app and mentioned that the goals for the remainder of 2023 were: one, to increase the app's availability across the United States; two, enhance the product and features of the platform; three, continue to test and iterate our marketing messaging for low-cost high-ROI customer acquisition; and four, explore strategic partnerships and other business development efforts. I'm pleased to report that we've made progress on all 4 areas since our last call. On the geographic front, recall that the initial launch of our wallet was in 21 states. In the past month, we expanded the availability to 12 additional states. WisdomTree Prime is now available to 60% of the U.S. population, and we are on track to have the platform available to substantially all of the U.S. population by year-end. We are also hard at work at continuing to enhance the products and features of the platform. I'm happy to announce that we are currently tracking to have new products available to customers later this quarter, including a Digital Money Market Fund as well as the launch of 3 new WisdomTree Siegel branded digital funds, where customers can deploy a model like experience with just one click. From here, expect new features and capabilities like peer-to-peer transfers and payments in coming quarters. On the marketing side, we believe it prudent to limit marketing spend until we are available across most of the U.S., and we have our initial full suite of product features. To us, this is a better use of capital. That said, we are seeing encouraging early signs on both our tactical spend and our messaging. The acquisition cost of each app download is in line with our modeled expectations. The key messages for our user acquisitions are tracking in line with our beta test. And we remain laser-focused on high-ROI customer acquisition. As our marketing budget expands going into 2024, the spend will be measured, thoughtful and under control. Every additional state added or feature enhancement or product launched has generated interest in what WisdomTree is doing from larger players in the financial and technology industries. So in addition to our bullish outlook on the organic growth prospects of Prime, we are having many conversations around B2B and B2B2C applications for both our platform and product suite that could unlock additional tokenization revenue streams in the future. WisdomTree has put in a lot of hard work to cement our leadership status in tokenization as the only provider with a broad suite of products. But the market is starting to wake up to the opportunities in tokenization with lots of exploration and early positioning in the space. This is not only a validation of our tokenization strategy, but also underscores WisdomTree's early mover position. As I've mentioned in recent quarters, it's very exciting times for WisdomTree. We have best-in-class organic growth, a meaningful margin expansion story and meaningful leverage to the secular shift towards tokenization. Thank you. And now operator, will you please turn the call over to Jeremy Campbell, our Head of Investor Relations, to field some questions from our shareholders. Question and Answer Session Jeremy Edward Campbell All right. Thanks, Jon, and good morning, everybody. Similar to prior quarters, we're going to take some questions from the Say Platform from our retail shareholders. The first one, I'm going to direct to Jeremy Schwartz, our Chief Investment Officer. Jeremy, the question is the Fed has tightened a lot in a short period of time. What's the house view on the rate cycle from here? And what do you think it means for total net flows across our fund lineup? Jeremy D. Schwartz That is a great question, very relevant to today's markets. The recent data have all come in very, very strong. And our senior economist has raised and extended forecast for interest rates over not just the coming quarters, but years. And we can see long-term interest rates settling at much higher levels than we thought, even just 6 and months ago. So we're upgrading our outlook for rates. We believe we're among the very best positioned asset managers for this dynamic. USFR, our floating rate treasury (inaudible) with $18 billion of assets has proven as utility remains one of the best and highest yielding treasuries in the market because of the inverted yield curve. And you've seen a lot of money go from money market funds. Other treasury short-duration products have all benefited, but there's still trillions of cash in banks earning meter rates. And so we educate clients every day about the opportunity for this floating rate treasury ETF versus other cash management solutions. But we have a broad lineup of ETFs that have compelling value propositions for these rate dynamics. Just this year, we launched our Enhanced Yield Universal Fund with Voya that's attracted over $1 billion in assets in less than 12 months. And we have longer-term solutions, core bond solutions, high-yield ETFs, mortgage-related funds that are becoming better opportunities as these yields rise. And our fixed income model portfolios have delivered very consistent alpha and relative performance versus their benchmarks. So we see really a broad diversified mix of inflows coming from other yield opportunities ahead. And now, of course, we have things beyond fixed income. And you could see even just this year, how well diversified the flows have been. We've got over 24 products with $100 million of inflows this year, ranging from the commodities in Europe, thematics,like artificial intelligence that have been working both in Europe and in the U.S. And I'd say the highlight of the year and what I see -- the biggest franchise ahead has been our quality dividend growth franchise, which is taken in $3.5 billion globally this year, a very exciting cross-section of funds covering many different regions, but working here in the U.S. and in Europe. And the simplicity of that story, buying high-quality stocks, high profitability stocks resonates in each of these markets, and we think it's well-positioned for further flows ahead. To summarize, I just say we already heard the breadth and depth of the inflows have very diversified opportunities ahead. Jeremy Edward Campbell For the second question, I'm going to have our Head of Digital Assets, Will Peck, answer it. Well, the question is -- and the wording is a little bit unclear, but I think the heart of the question is around evolving regulatory regime for both crypto and blockchain tech. So where does WisdomTree see the regulatory regime over time? And how does it fit within our crypto and tokenization plans? William Bradley Peck So I guess I'll answer this by saying, I think there's a lot that can be done within existing rules and regulations here in the U.S.. I mean sure, there are some things you can point to that you wish you'd have more clarity on. And I think some of the big issues of [weight] in the U.S. like altcoins, aren't really a part of our business model here in the U.S. Crypto and blockchain impacts a lot of different regulators, state, federal, securities, commodities, banking, AML. And in the U.S., it's not just one body that makes decisions. So I think things will move at different paces. But I think the ability to innovate within this environment has been a major advantage for WisdomTree as a company at this current moment in time. So it's actually an advantage for us, and we're looking forward to continuing to press it going forward. Jeremy Edward Campbell And we'll -- stay on deck for me here because the last question we’re going to take from a retail shareholder base is probably one you've heard quite a bit lately with all the news flow. But is there any update on the Bitcoin ETF? William Bradley Peck Well, it does seem like there's been some exciting momentum, right? It's certainly been in the news a lot. You've seen a lot of competitors and others do things you're -- we remain very focused on a spot Bitcoin ETF. We think it's the best execution for the asset class in the traditional channels in the U.S., and we're looking forward to continue engaging with regulators on it. The big points I'd make though is that unlike a lot of oth
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-28
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $667,551,173,488
- Hash Rate: 485416265.1302173
- Transaction Count: 564383.0
- Unique Addresses: 819540.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.65
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: The world of cryptocurrency trading is undergoing a profound metamorphosis, fueled by a growing wave of investors seeking alternatives to the well-established centralized exchanges (CEXs) that have long reigned supreme. These CEXs have traditionally acted as intermediaries, facilitating transactions between buyers and sellers of digital currencies like Bitcoin and Ethereum. While CEXs offer certain advantages such as liquidity, convenience and security, they also carry significant downsides, including hefty fees and privacy concerns as well as susceptibility to hacking and fraud. Rise of decentralized crypto trading Crypto’s shifting landscape has propelled decentralized exchanges (DEXs) into the limelight. DEXs are platforms that empower users to engage in direct peer-to-peer trading of crypto assets, eliminating the need for intermediaries. Harnessing the power of blockchain or distributed ledger technology, DEXs introduce a range of advantages over their centralized counterparts, including: 1. Lower fees: DEXs typically impose more favorable fee structures than CEXs, which often burden users with high commissions, spreads and withdrawal charges. 2. Enhanced privacy: Unlike CEXs, which demand personal information and identity verification, DEXs operate with greater privacy, sidestepping anti-money laundering (AML) and know-your-customer (KYC) regulations. 3. Greater control: DEXs empower users by allowing them to maintain full control over their crypto assets and private keys, unlike CEXs that hold users’ funds in their own wallets or custodial services. 4. Fostering innovation: DEXs provide access to a broader spectrum of crypto assets and services, including lending, borrowing, staking, yield farming, non-fungible tokens ( NFTs ) and more. Nonetheless, decentralized exchanges grapple with their own set of challenges, such as: 1. Limited liquidity: DEXs often face lower trading volumes and liquidity compared to CEXs, resulting in higher price slippage and longer transaction processing times. 2. Increased complexity: DEXs may require users to possess a higher degree of technical expertise compared to CEXs, potentially discouraging novice or casual traders. 3. Security concerns: DEXs are not immune to cyberattacks or technical glitches, posing risks to the platform’s integrity and the functionality of underlying smart contracts. 4. Regulatory uncertainty: Operating within a legal gray area, DEXs often lack clear definitions or regulations in most jurisdictions, raising questions about their compliance. The birth of RDEXs Is it possible to marry the strengths of centralized exchanges and decentralized exchanges? Can we envision a decentralized exchange that adheres to regulatory standards? The answer is affirmative. Enter the regulated decentralized exchange (RDEX). An RDEX allows users to engage in direct crypto asset trading while adhering to relevant laws and regulations in its jurisdiction of operation. It preserves the fundamental tenets of decentralization — transparency, immutability and censorship resistance — while bolstering them with legitimacy, accountability and security. Story continues So, how does an RDEX function? It achieves this delicate balance by incorporating a regulatory framework into its protocol design, employing smart contracts to enforce user and transaction rules and standards. For instance, it may mandate user registration with real identities and source of funds verification before permitting trading. It may also impose limits on trade amounts or frequencies and report transactions to authorities for tax and compliance purposes. Some of them will adopt a hybrid approach, blending on-chain and off-chain components. By leveraging off-chain service providers for KYC/AML checks and liquidity pools, they maintain decentralization and security through cryptographic proofs, ensuring the honesty and integrity of these services. Value of RDEXs Why are RDEXs so vital in the crypto space? It presents a pragmatic solution to one of the crypto industry’s foremost challenges: regulation. As governments and regulators worldwide grow increasingly concerned about the economic and societal implications of crypto activities, regulation becomes inevitable. While constructive regulation can offer clarity, security and recognition, excessive restrictions can stifle innovation and growth. RDEXs can serve as a bridge between the crypto industry and regulators. They demonstrate that crypto activities can be conducted in a responsible, compliant and transparent manner, preserving decentralization’s core values. By fostering trust among users, investors and authorities, RDEXs mitigate the risks of fraud, manipulation and abuse. Moreover, RDEXs empower the future of decentralized trading by granting access to a broader array of crypto assets and services. These include the trading of security tokens, which represent real-world assets like stocks, bonds, real estate or art. While security tokens promise to revolutionize the financial industry, their strict regulations demand compliant platforms, which RDEXs can provide. Central bank digital currencies (CBDCs) are another facet of the crypto landscape that RDEXs can facilitate. CBDCs, digital versions of fiat currencies issued by central banks, promise faster, cheaper and more secure transactions but pose unique challenges for the crypto industry. It can integrate CBDCs with other crypto assets and services, ensuring privacy, interoperability and competition. RDEXs in action RDEXs are not just theoretical concepts; they are tangible realities. Projects like eToroX, backed by eToro and licensed by the Gibraltar Financial Services Commission, is an example of the RDEX in action — enabling users to trade crypto assets, including security tokens and stablecoins pegged to fiat currencies while adhering to regulatory frameworks. Injective Protocol, supported by Binance, another major player in the crypto space, offers a layer-2 DEX built on Ethereum. It facilitates the trading of crypto assets, including derivatives, futures, options and synthetics, and collaborates with central banks on CBDC integration. Projects like Bitverse, supported by Bybit and the Mantle Network, are pioneering a credit rating system. This system allows users to leverage their crypto assets and reputation to access a range of financial services and products in the Web3 space. Regulators could explore such platforms to verify user creditworthiness, both on and off-chain. (I do not have any ties to any of the projects or companies mentioned in this piece.) On the horizon In summary, RDEXs represent a new breed of decentralized exchanges that adhere to regulation. They bridge the gap between the crypto industry and regulators, providing platforms that cater to both sides’ needs. It unlocks access to a broader spectrum of crypto assets and services, empowering the future of decentralized trading. However, RDEXs are not the final destination of crypto’s evolution. Numerous challenges and questions remain, including those related to interoperability, scalability, security and the ever-growing complexity of crypto assets and services. Furthermore, the crypto industry continues to dream beyond RDEXs. Web 4.0 , the hypothetical next chapter of the internet , hints at an even more immersive, intuitive and intelligent way of interacting with information and value in the most decentralization manner governed by artificial intelligence may be the way forward. While Web4 remains speculative, it underscores the crypto industry’s relentless pursuit of innovation, openness, fairness and decentralization. This concept also works well with RDEXs, where no single person is running the exchange, it is run by codes and AI. The crypto industry’s evolution is far from over, with more innovative solutions and revolutionary ideas on the horizon, all aimed at shaping a more decentralized future. View comments...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["SAN FRANCISCO, Oct. 29, 2023 (GLOBE NEWSWIRE) --OKX, a leading Web3 technology company, has issued updates for the day of October 29, 2023.\nOKX Wallet is one of the first multi-chain wallets to integrate Bitcoin testnet\nOKX Walletis one of the first multi-chain wallets to integrate Bitcoin testnet, an alternative blockchain for experimentation and testing. Testnet bitcoins are clearly distinct from real bitcoins and are not intended to have any value.\nThis network enables application developers, or those working on Bitcoin enhancements, to experiment without having to use real bitcoins and without worrying about consensus.\nOKX Wallet is a universal crypto wallet available on multiple platforms and interfaces, including app, web and web extension. It enables users access to 3,000+ cryptocurrencies, 60+ networks, thousands of DApps and a one-stop decentralized NFT Marketplace.\nFor more information, please visit theSupport Center.\nFor further information, please contact:\[email protected]\nAbout OKX\nA leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:\n• OKX Wallet: The world's most powerful, secure and versatile crypto wallet which gives users access to over 70 blockchains while allowing them to take custody of their own funds. The wallet includesMPC technologywhich allows users to easily recover access to their wallet independently, removing the need for traditional, 'written down' seed phrases. In addition, OKX Wallet’s account abstraction-poweredSmart Accountenables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.\n• DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.\n• NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.\n• Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.\nOKX partners with a number of the world's top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.\nAs a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled,The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.\nTo learn more about OKX, download our app or visit:okx.com\nDisclaimer\nThe information displayed is strictly for educational and informational purposes only. It does not constitute and shall not be considered as an offer, solicitation or recommendation, to deal in any products (including any NFT or otherwise), or as financial or investment advice. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service atwww.okx.com.", "SAN FRANCISCO, Oct. 29, 2023 (GLOBE NEWSWIRE) --OKX, a leading Web3 technology company, has issued updates for the day of October 29, 2023.\nOKX Wallet is one of the first multi-chain wallets to integrate Bitcoin testnet\nOKX Walletis one of the first multi-chain wallets to integrate Bitcoin testnet, an alternative blockchain for experimentation and testing. Testnet bitcoins are clearly distinct from real bitcoins and are not intended to have any value.\nThis network enables application developers, or those working on Bitcoin enhancements, to experiment without having to use real bitcoins and without worrying about consensus.\nOKX Wallet is a universal crypto wallet available on multiple platforms and interfaces, including app, web and web extension. It enables users access to 3,000+ cryptocurrencies, 60+ networks, thousands of DApps and a one-stop decentralized NFT Marketplace.\nFor more information, please visit theSupport Center.\nFor further information, please contact:\[email protected]\nAbout OKX\nA leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:\n• OKX Wallet: The world's most powerful, secure and versatile crypto wallet which gives users access to over 70 blockchains while allowing them to take custody of their own funds. The wallet includesMPC technologywhich allows users to easily recover access to their wallet independently, removing the need for traditional, 'written down' seed phrases. In addition, OKX Wallet’s account abstraction-poweredSmart Accountenables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.\n• DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.\n• NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.\n• Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.\nOKX partners with a number of the world's top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.\nAs a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled,The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.\nTo learn more about OKX, download our app or visit:okx.com\nDisclaimer\nThe information displayed is strictly for educational and informational purposes only. It does not constitute and shall not be considered as an offer, solicitation or recommendation, to deal in any products (including any NFT or otherwise), or as financial or investment advice. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service atwww.okx.com.", "OKX SAN FRANCISCO, Oct. 29, 2023 (GLOBE NEWSWIRE) -- OKX , a leading Web3 technology company, has issued updates for the day of October 29, 2023. OKX Wallet is one of the first multi-chain wallets to integrate Bitcoin testnet OKX Wallet is one of the first multi-chain wallets to integrate Bitcoin testnet, an alternative blockchain for experimentation and testing. Testnet bitcoins are clearly distinct from real bitcoins and are not intended to have any value. This network enables application developers, or those working on Bitcoin enhancements, to experiment without having to use real bitcoins and without worrying about consensus. OKX Wallet is a universal crypto wallet available on multiple platforms and interfaces, including app, web and web extension. It enables users access to 3,000+ cryptocurrencies, 60+ networks, thousands of DApps and a one-stop decentralized NFT Marketplace. For more information, please visit the Support Center . For further information, please contact: [email protected] About OKX A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including: OKX Wallet : The world's most powerful, secure and versatile crypto wallet which gives users access to over 70 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, 'written down' seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction. DEX : A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported. NFT Marketplace : A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur. Web3 DeFi : A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains. Story continues OKX partners with a number of the world's top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo. As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite , which advocates for a new paradigm led by Web3 self-managed technology. To learn more about OKX, download our app or visit: okx.com Disclaimer The information displayed is strictly for educational and informational purposes only. It does not constitute and shall not be considered as an offer, solicitation or recommendation, to deal in any products (including any NFT or otherwise), or as financial or investment advice. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com .", "WisdomTree, Inc. (NYSE: WT ) Q3 2023 Earnings Call Transcript October 27, 2023 WisdomTree, Inc. misses on earnings expectations. Reported EPS is $0.0733 EPS, expectations were $0.1. Operator: Greetings and welcome to WisdomTree Third Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to turn it over to Jessica Zaloom, Head of Corporate Communications to begin. Thank you. Jessica Zaloom: Good morning. Before we begin, I would like to reference our legal disclaimer available in today's presentation. This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. A number of factors could cause actual results to differ materially from the results discussed in forward-looking statements, including, but not limited to, the risks set forth in this presentation and in the Risk Factors section of WisdomTree's annual report on Form 10-K for the year ended December 31, 2022. WisdomTree assumes no duty and does not undertake to update any forward-looking statements. Now, it is my pleasure to turn the call over to WisdomTree CFO, Bryan Edmiston. Bryan Edmiston: Thank you, Jessica, and good morning, everyone. We ended the quarter with $93.7 billion of AUM, unchanged from the prior quarter as our inflows served to offset unfavorable market conditions. We generated $2 million of inflows in the quarter, which were broad and diverse across seven of our eight product categories. Diversification is driving year-to-date average fee capture on our flows upward, which was more than two times greater than our fee capture in the prior year. Our flows are strong and stable as it has been now been 12 consecutive quarters of flowing positive. Our year-to-date flows through September of $10.7 billion translates into a 17% annualized organic flow growth rate. Our AUM currently stands at 94.1 billion slightly higher from the end of September, having benefited from further inflows. Story continues Next slide. Revenues were 90.4 million, an increase of 5.5% from the second quarter and up 24.9% versus the prior year quarter. Our revenues are growing and our margins are expanding. Our operating margin in the third quarter was 29.5% as compared to 20.5% in the third quarter of last year. Our margins have benefited by the settlement of our contractual gold payment obligation last quarter which has been a meaningful contributor to this expansion, but not the only contributor. When excluding the impact of the gold royalty buyout, our margins have expanded 330 basis points versus the third quarter of last year, demonstrating the scalability of our business model. This margin expansion is translating into earnings per share growth. Our adjusted net income was $18 million or $0.10 a share. Next slide. Our adjusted operating expenses were up 1.7% for the quarter. This was driven primarily by higher incentive compensation as well as higher third-party distribution fees payable to our marketing agent in Latin America, as we have experienced roughly 70% AUM growth in the region since the beginning of the year. These increases were partly offset by lower contractual gold payments and marketing expenses. Next slide. Now a few comments on our forecasted expense guidance. Variability in our compensation expenses driven by our performance-based compensation plans, which consider our organic growth, revenue growth, margin expansion and our share price performance in relation to our peers whereby we currently rank number one out of 13. Given our performance to date, we anticipate our compensation expense to be near the high-end of our guidance range. We anticipate our discretionary spending to be near the high-end of our guidance range as well, having recognized $43.4 million in discretionary spending year-to-date and forecasted Q4 seasonal spend. We reported a gross margin of 80.1% in the third quarter, and we are updating our gross margin guidance to be between 79% and 80% from 79%, which we believe should be sustainable at current AUM levels. Our forecasted third-party distribution expense is being updated to be between $9 million and $10 million driven largely by the growth we are experiencing in Latin America. And our interest income is trending higher given the magnitude of our invested assets and higher interest rates. We now anticipate our interest income to between $3.5 million to $4 million for the year. That's all I have. I will now turn the call over to Jarrett. Jarrett Lilien: Thank you, Bryan, and good morning, everyone. Our strategy continues to be clear and straight forward, which is to deliver industry leading organic growth to expand our operating margins, and to lead the industry's evolution in tokenized assets and blockchain enabled finance. In each quarter, we consistently deliver results against this strategy as we did again this quarter. In the third quarter, we generated nearly $2 billion of net inflows, our 12th consecutive quarter of net inflows. Year-to-date, we've now generated approximately $11 billion of net inflows, representing a 17% annualized organic growth rate, which continues to be best-in-class among all publicly traded U.S. asset managers. And we have confidence that our three years of momentum will continue. Our existing clients continue to grow in average size, while also utilizing more of our products and services. In other words, our client relationships are becoming larger, broader, and deeper. In addition, we are adding new clients at a double-digit rate. Taken together, we have multiple growth cylinders working together. A great example is our experience with our U.S. Floating Rate Treasury Fund, USFR. While driving strong flows, it is also driving new customers. Roughly 40% of advisors buying USFR are our first time users of WisdomTree products and services, and we are already seeing a development path where these advisors are expanding their relationship with the WisdomTree into additional products like our quality dividend growth front and our managed model solutions. Speaking of models, while they are still in the early innings of growth, they continue to be one of the largest and longest growth runways we have. Here our strategy is two-fold. First, it is to continue to build a large group of recurring model users, at large distribution partners. And second is to pursue the RAA and an independent broker dealer channel with a more customized model approach that will allow us to manage a majority of those firms' assets. Today, our models are available on some of the largest distribution platforms in U.S. wealth management including Merrill, Morgan Stanley, LPL, Kestra, Seterra, and Schwab in total over 65,000 advisors have access to our models at these firms, and there is a long growth runway ahead. At Merrill, for example, our model assets are now over $0.5 billion with approximately 850 advisors using at least one of our seven available models and nearly 60% of those advisors having more than one client in our models. Both the AUM and the number of advisors had doubled from this time last year. Likewise, we launched managed models at LPL earlier this summer. And as of the end of September, while from a lower base, we have already doubled our model assets from June levels. Once again, our client relationships are becoming larger, broader and deeper. Outside the very large distribution networks, our strategy is to provide a bespoke models experience for the broad RAA and independent broker dealer marketplace. About a year ago, we have launched our portfolio and grow solutions effort that offers a custom model experience together with automated trading and rebalancing services, which is essentially an easy button for implementation of WisdomTree's managed models. To-date, we have on-boarded eight clients ranging in size from a $100 billion to a $1 billion in assets. But more importantly, we have a pipeline of over 60 RAAs and IBDs, representing potential partners with over $60 billion in assets under management. Overall, WisdomTree is well positioned with a large distribution platform and has a differentiated approach to the RAA and IBD market. We continue to score wins in the model space and have a clear and strong line of sight for continued organic growth. And given our high incremental margins, all of this growth continues and will continue to grow our operating margins. Third quarter saw operating margins expand by 900 basis points versus the year ago period. As Brian has highlighted, roughly 570 basis points of this increase was driven by management proactively resolving our gold obligation, while another 330 basis points was driven by enhanced operational efficiencies and organic growth on top of our scalable operating model. Meanwhile, we continue to make significant and steady progress with WisdomTree Prime with a growing product and feature set now available in 33 states. All-in-all, these are exciting times at WisdomTree as we continue to deliver industry leading organic growth. We continue to expand our operating margins, and we continue to lead the industry's evolution in tokenized assets and blockchain-enabled finance. With that, let me now turn it over to Jona. Jonathan Steinberg: Thank you, Jarrett, and good morning, everyone. I'm very proud of WisdomTree's ability to execute on our goals to drive positive results. As Bryan and Jarrett discussed earlier, we have strong momentum in our business today and high confidence that the strength will persist for the coming quarters and years. Our foundation has never been stronger with approximately $95 billion in assets under management. We've achieved asset diversification also geographic diversification. Our models and solutions business is world class, as we've been added to almost every major platform in just the last a few years. Our integration of technology into every aspect of our business is why WisdomTree can do more on less resources than any other asset manager. All of this against the backdrop of over 11 billion in year-to-date inflows on top of last year's over 12 billion in inflows. It has truly been a team effort and I'm very proud of WisdomTree's workforce and our unique culture. It is from this very strong foundation. We've been able to leverage the skill set of our entire company from product, legal, research, ops, tech, et cetera, alongside a dedicated and focused digital asset team to cement our first mover status in tokenization and launch of WisdomTree Prime. Starting with WisdomTree Prime, last quarter, we announced the launch of our mobile app and mentioned that the goals for the remainder of 2023 were; one, to increase the app's availability across the United States, two; enhance the product and features of the platform; three, continue to test and iterate our marketing messaging for low cost, IROI customer acquisition; and four, explore strategic partnerships and other business development efforts. A global investment advisor discussing their innovative fund offerings with a client. I'm pleased to report that we've made progress on all four areas since our last call. On the geographic front, recall that the initial launch of our wallet was in 21 states. In the past month, we expanded the availability to 12 additional states. WisdomTree Prime is now available to 60% of the U.S. population and we are on track to have the platform available to substantially all of the U.S. population by year-end. We are also hard at work at continuing to enhance the products and features of the platform. I'm happy to announce that we are currently tracking to have new products available to customers later this quarter including a digital money market fund as well as the launch of three new WisdomTree Siegel branded digital funds, where customers can deploy a model like experience with just one click. From here, expect new features and capabilities like peer-to-peer transfers and payments in coming quarters. On the marketing side, we believe it's prudent to limit marketing spend until we are available across most of the U.S. and we have our initial full suite of product features. To us, this is a better use of capital. That said, we are seeing encouraging early signs on both our tactical spend and our messaging. The acquisition cost of each app download is in line with our modeled expectations. The key message is for our user acquisitions are tracking in line with our beta tests. And we remain laser focused on high ROI customer acquisition. As our marketing budget expands going into 2024, the spend will be measured thoughtful and under control. Every additional state added or feature enhancement or product launched has generated interest in what WisdomTree is doing from larger players in the financial and technology industries. So, in addition to our bullish outlook on the organic growth prospects of Prime, we are having many conversations around B2B and B2B2C applications for both our platform and product suite that could unlock additional tokenization revenue streams in the future. WisdomTree has put in a lot of hard work to cement our leadership status in tokenization as the only provider with a broad suite of products. But the market is starting to wake up to the opportunities in tokenization, with lots of exploration and early positioning in the space. This is not only a validation of our tokenization strategy, but also underscores WisdomTree's early mover position. As I've mentioned in recent quarters, it's very exciting times for WisdomTree. We have best-in-class organic growth, a meaningful margin expansion story, and meaningful leverage to the secular shift towards tokenization. Thank you. And now, Operator, will you please turn the call over to Jeremy Campbell, our Head of Investor Relations, to field some questions from our shareholders? A - Jeremy Campbell: All right. Thanks, Jona, and good morning, everybody. Similar to prior quarters, we're going to take some questions from the Say platform from our retail shareholders. The first one I'm going to direct to Jeremy Schwartz, our Chief Investment Officer. Jeremy, the question is the fed has tightened a lot in a short period of time. What's the house view on the rate cycle from here and what do you think it means for total net flows across our fund lineup? Jeremy Schwartz: Well, thanks, Jeremy. And that is a great question, very relevant to today's markets. The recent data have all come in very, very strong and our senior economist has raised an extended forecast for interest rates over, not just the coming quarters but years. And we can see long-term interest rates settling at much higher levels than we thought even just six months ago. So, we're upgrading our outlook for rates. We believe we are among the very best-positioned asset managers for this dynamic. USFR, our floating rate treasury TF with $18 billion of assets, has proven its utility remains one of the best and highest-yielding treasuries in the market because of the inverted yield curve. And you have seen a lot of money go from money market funds, other treasury short duration products have all benefited, but there is still $1 trillion of cash and banks earning meter rates. And so we educate clients every day about the opportunity for this floating rate treasury ETF versus other cash management solutions, but we have a broad lineup of ETFs that have compelling value propositions for these rate dynamics. Just this year, we launched our enhanced yield universal fund with Voya that's attracted over a $1 billion in assets in less than 12 months. And we have longer-term solutions, core bond solutions, high yield ETFs, mortgage related funds that are becoming better opportunity as these yields rise. And our fixed income model portfolios have delivered very consistent alpha and relative performance versus their benchmarks. So we see really a broad, diversified mix of inflows coming from other yield opportunities ahead. And now, of course, we have things beyond fixed income. And you could see, even just this year, how well-diversified the flows have been. We have got over 24 products with a $100 million of inflows this year, ranging from the commodities in Europe, thematics like artificial intelligence that have been working both in the Europe and in U.S. And I would say the highlight of the year and what I see the biggest franchise ahead has been our quality dividend growth franchise, which is taken in $300 billion globally this year, a very exciting cross section of funds covering many different regions, but working here in the U.S. and in Europe. And the simplicity of that story, buying high-quality stocks, high profitability stocks resonates each of these markets, and we think it's well-positioned for further flows, ahead. To summarize, I just say, we already heard the breadth and depth of the inflows have very diversified opportunities ahead. Jeremy Campbell: For the second question, I have our Head of Digital Assets at Will Peck answer it. Will the question is, and the workings are a little bit unclear, but heart of the question is around evolving regulatory regime for both crypto and blockchain tech. So, where does WisdomTree see the regulatory regime overtime? And how does that fit within our crypto and tokenization plans? Will Peck: Thanks, Jeremy, and good morning, everyone. So I guess I will answer this by saying, I think there is a lot that can be done within existing rules and relations here in the U.S. I mean, sure, there is some things you can point to that you wish you would have more clarity on. And I think some of the big issues of weight in the U.S. like -- aren't really a part of our business model here in the U.S. On crypto and blockchain impacts a lot of different regulators, state, federal, securities, commodities, banking, AML. And in the U.S., it's not just one body that makes decisions. So, I think things will move at different paces. But I think the ability to innovate within this environment has been a major advantage for WisdomTree as a company, at this current moment in time. So, it is actually an advantage for us and we are looking forward to continuing to press it going forward. Jeremy Campbell: Great. And we will stay on deck for me here because, the last question we are going to take from a retail shareholder base is, probably one you have heard quite a bit lately without the news flow. But is there any update on the Bitcoin ETF? Will Peck: Well, it does seem like there has been some exciting momentum. It is certainly been in the news a lot. You have seen a lot of competitors and others do things here. We remain very focused on a spot Bitcoin ETF. We think it is the best execution for the asset class in the traditional channels in the U.S. And we are looking forward to continue engaging with regulators on it. he big points I make though is that, unlike a lot of other financial services firms in the U.S., WisdomTree does actually have Bitcoin product in the market today, that's both in Europe where we have got a leading set of ETPs that have had positive inflows this year, but also it's in the U.S. for retail customers with WisdomTree Prime. We're leveraging the same cold storage custody model that an ETF would use. We just think we're doing it with more utility in the wallet. So, Bitcoin in the U.S. for retail investors it's something that we already offer today. We think it's actually a very good experience within WisdomTree Prime. And we're looking forward to continuing to press that and hone in on that in marketing messaging going forward. Jeremy Campbell: Operator, that's all we have from the Say platform for this quarter. So please feel free to open up the line from the sell-side community. See also 20 Best Boarding Schools in the World and 10 Best Bitcoin and Blockchain Stocks To Buy Now . To continue reading the Q&A session, please click here .", "WisdomTree, Inc. (NYSE:WT) Q3 2023 Earnings Call Transcript October 27, 2023\nWisdomTree, Inc. misses on earnings expectations. Reported EPS is $0.0733 EPS, expectations were $0.1.\nOperator:Greetings and welcome to WisdomTree Third Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to turn it over to Jessica Zaloom, Head of Corporate Communications to begin. Thank you.\nJessica Zaloom:Good morning. Before we begin, I would like to reference our legal disclaimer available in today's presentation. This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. A number of factors could cause actual results to differ materially from the results discussed in forward-looking statements, including, but not limited to, the risks set forth in this presentation and in the Risk Factors section of WisdomTree's annual report on Form 10-K for the year ended December 31, 2022. WisdomTree assumes no duty and does not undertake to update any forward-looking statements. Now, it is my pleasure to turn the call over to WisdomTree CFO, Bryan Edmiston.\nBryan Edmiston:Thank you, Jessica, and good morning, everyone. We ended the quarter with $93.7 billion of AUM, unchanged from the prior quarter as our inflows served to offset unfavorable market conditions. We generated $2 million of inflows in the quarter, which were broad and diverse across seven of our eight product categories. Diversification is driving year-to-date average fee capture on our flows upward, which was more than two times greater than our fee capture in the prior year. Our flows are strong and stable as it has been now been 12 consecutive quarters of flowing positive. Our year-to-date flows through September of $10.7 billion translates into a 17% annualized organic flow growth rate. Our AUM currently stands at 94.1 billion slightly higher from the end of September, having benefited from further inflows.\nNext slide. Revenues were 90.4 million, an increase of 5.5% from the second quarter and up 24.9% versus the prior year quarter. Our revenues are growing and our margins are expanding. Our operating margin in the third quarter was 29.5% as compared to 20.5% in the third quarter of last year. Our margins have benefited by the settlement of our contractual gold payment obligation last quarter which has been a meaningful contributor to this expansion, but not the only contributor. When excluding the impact of the gold royalty buyout, our margins have expanded 330 basis points versus the third quarter of last year, demonstrating the scalability of our business model. This margin expansion is translating into earnings per share growth. Our adjusted net income was $18 million or $0.10 a share.\nNext slide. Our adjusted operating expenses were up 1.7% for the quarter. This was driven primarily by higher incentive compensation as well as higher third-party distribution fees payable to our marketing agent in Latin America, as we have experienced roughly 70% AUM growth in the region since the beginning of the year. These increases were partly offset by lower contractual gold payments and marketing expenses. Next slide. Now a few comments on our forecasted expense guidance. Variability in our compensation expenses driven by our performance-based compensation plans, which consider our organic growth, revenue growth, margin expansion and our share price performance in relation to our peers whereby we currently rank number one out of 13. Given our performance to date, we anticipate our compensation expense to be near the high-end of our guidance range.\nWe anticipate our discretionary spending to be near the high-end of our guidance range as well, having recognized $43.4 million in discretionary spending year-to-date and forecasted Q4 seasonal spend. We reported a gross margin of 80.1% in the third quarter, and we are updating our gross margin guidance to be between 79% and 80% from 79%, which we believe should be sustainable at current AUM levels. Our forecasted third-party distribution expense is being updated to be between $9 million and $10 million driven largely by the growth we are experiencing in Latin America. And our interest income is trending higher given the magnitude of our invested assets and higher interest rates. We now anticipate our interest income to between $3.5 million to $4 million for the year.\nThat's all I have. I will now turn the call over to Jarrett.\nJarrett Lilien:Thank you, Bryan, and good morning, everyone. Our strategy continues to be clear and straight forward, which is to deliver industry leading organic growth to expand our operating margins, and to lead the industry's evolution in tokenized assets and blockchain enabled finance. In each quarter, we consistently deliver results against this strategy as we did again this quarter. In the third quarter, we generated nearly $2 billion of net inflows, our 12th consecutive quarter of net inflows. Year-to-date, we've now generated approximately $11 billion of net inflows, representing a 17% annualized organic growth rate, which continues to be best-in-class among all publicly traded U.S. asset managers. And we have confidence that our three years of momentum will continue.\nOur existing clients continue to grow in average size, while also utilizing more of our products and services. In other words, our client relationships are becoming larger, broader, and deeper. In addition, we are adding new clients at a double-digit rate. Taken together, we have multiple growth cylinders working together. A great example is our experience with our U.S. Floating Rate Treasury Fund, USFR. While driving strong flows, it is also driving new customers. Roughly 40% of advisors buying USFR are our first time users of WisdomTree products and services, and we are already seeing a development path where these advisors are expanding their relationship with the WisdomTree into additional products like our quality dividend growth front and our managed model solutions.\nSpeaking of models, while they are still in the early innings of growth, they continue to be one of the largest and longest growth runways we have. Here our strategy is two-fold. First, it is to continue to build a large group of recurring model users, at large distribution partners. And second is to pursue the RAA and an independent broker dealer channel with a more customized model approach that will allow us to manage a majority of those firms' assets. Today, our models are available on some of the largest distribution platforms in U.S. wealth management including Merrill, Morgan Stanley, LPL, Kestra, Seterra, and Schwab in total over 65,000 advisors have access to our models at these firms, and there is a long growth runway ahead. At Merrill, for example, our model assets are now over $0.5 billion with approximately 850 advisors using at least one of our seven available models and nearly 60% of those advisors having more than one client in our models.\nBoth the AUM and the number of advisors had doubled from this time last year. Likewise, we launched managed models at LPL earlier this summer. And as of the end of September, while from a lower base, we have already doubled our model assets from June levels. Once again, our client relationships are becoming larger, broader and deeper. Outside the very large distribution networks, our strategy is to provide a bespoke models experience for the broad RAA and independent broker dealer marketplace. About a year ago, we have launched our portfolio and grow solutions effort that offers a custom model experience together with automated trading and rebalancing services, which is essentially an easy button for implementation of WisdomTree's managed models.\nTo-date, we have on-boarded eight clients ranging in size from a $100 billion to a $1 billion in assets. But more importantly, we have a pipeline of over 60 RAAs and IBDs, representing potential partners with over $60 billion in assets under management. Overall, WisdomTree is well positioned with a large distribution platform and has a differentiated approach to the RAA and IBD market. We continue to score wins in the model space and have a clear and strong line of sight for continued organic growth. And given our high incremental margins, all of this growth continues and will continue to grow our operating margins. Third quarter saw operating margins expand by 900 basis points versus the year ago period. As Brian has highlighted, roughly 570 basis points of this increase was driven by management proactively resolving our gold obligation, while another 330 basis points was driven by enhanced operational efficiencies and organic growth on top of our scalable operating model.\nMeanwhile, we continue to make significant and steady progress with WisdomTree Prime with a growing product and feature set now available in 33 states. All-in-all, these are exciting times at WisdomTree as we continue to deliver industry leading organic growth. We continue to expand our operating margins, and we continue to lead the industry's evolution in tokenized assets and blockchain-enabled finance. With that, let me now turn it over to Jona.\nJonathan Steinberg:Thank you, Jarrett, and good morning, everyone. I'm very proud of WisdomTree's ability to execute on our goals to drive positive results. As Bryan and Jarrett discussed earlier, we have strong momentum in our business today and high confidence that the strength will persist for the coming quarters and years. Our foundation has never been stronger with approximately $95 billion in assets under management. We've achieved asset diversification also geographic diversification. Our models and solutions business is world class, as we've been added to almost every major platform in just the last a few years. Our integration of technology into every aspect of our business is why WisdomTree can do more on less resources than any other asset manager.\nAll of this against the backdrop of over 11 billion in year-to-date inflows on top of last year's over 12 billion in inflows. It has truly been a team effort and I'm very proud of WisdomTree's workforce and our unique culture. It is from this very strong foundation. We've been able to leverage the skill set of our entire company from product, legal, research, ops, tech, et cetera, alongside a dedicated and focused digital asset team to cement our first mover status in tokenization and launch of WisdomTree Prime. Starting with WisdomTree Prime, last quarter, we announced the launch of our mobile app and mentioned that the goals for the remainder of 2023 were; one, to increase the app's availability across the United States, two; enhance the product and features of the platform; three, continue to test and iterate our marketing messaging for low cost, IROI customer acquisition; and four, explore strategic partnerships and other business development efforts.\nI'm pleased to report that we've made progress on all four areas since our last call. On the geographic front, recall that the initial launch of our wallet was in 21 states. In the past month, we expanded the availability to 12 additional states. WisdomTree Prime is now available to 60% of the U.S. population and we are on track to have the platform available to substantially all of the U.S. population by year-end. We are also hard at work at continuing to enhance the products and features of the platform. I'm happy to announce that we are currently tracking to have new products available to customers later this quarter including a digital money market fund as well as the launch of three new WisdomTree Siegel branded digital funds, where customers can deploy a model like experience with just one click.\nFrom here, expect new features and capabilities like peer-to-peer transfers and payments in coming quarters. On the marketing side, we believe it's prudent to limit marketing spend until we are available across most of the U.S. and we have our initial full suite of product features. To us, this is a better use of capital. That said, we are seeing encouraging early signs on both our tactical spend and our messaging. The acquisition cost of each app download is in line with our modeled expectations. The key message is for our user acquisitions are tracking in line with our beta tests. And we remain laser focused on high ROI customer acquisition. As our marketing budget expands going into 2024, the spend will be measured thoughtful and under control.\nEvery additional state added or feature enhancement or product launched has generated interest in what WisdomTree is doing from larger players in the financial and technology industries. So, in addition to our bullish outlook on the organic growth prospects of Prime, we are having many conversations around B2B and B2B2C applications for both our platform and product suite that could unlock additional tokenization revenue streams in the future. WisdomTree has put in a lot of hard work to cement our leadership status in tokenization as the only provider with a broad suite of products. But the market is starting to wake up to the opportunities in tokenization, with lots of exploration and early positioning in the space. This is not only a validation of our tokenization strategy, but also underscores WisdomTree's early mover position.\nAs I've mentioned in recent quarters, it's very exciting times for WisdomTree. We have best-in-class organic growth, a meaningful margin expansion story, and meaningful leverage to the secular shift towards tokenization. Thank you. And now, Operator, will you please turn the call over to Jeremy Campbell, our Head of Investor Relations, to field some questions from our shareholders?\nA - Jeremy Campbell:All right. Thanks, Jona, and good morning, everybody. Similar to prior quarters, we're going to take some questions from the Say platform from our retail shareholders. The first one I'm going to direct to Jeremy Schwartz, our Chief Investment Officer. Jeremy, the question is the fed has tightened a lot in a short period of time. What's the house view on the rate cycle from here and what do you think it means for total net flows across our fund lineup?\nJeremy Schwartz:Well, thanks, Jeremy. And that is a great question, very relevant to today's markets. The recent data have all come in very, very strong and our senior economist has raised an extended forecast for interest rates over, not just the coming quarters but years. And we can see long-term interest rates settling at much higher levels than we thought even just six months ago. So, we're upgrading our outlook for rates. We believe we are among the very best-positioned asset managers for this dynamic. USFR, our floating rate treasury TF with $18 billion of assets, has proven its utility remains one of the best and highest-yielding treasuries in the market because of the inverted yield curve. And you have seen a lot of money go from money market funds, other treasury short duration products have all benefited, but there is still $1 trillion of cash and banks earning meter rates.\nAnd so we educate clients every day about the opportunity for this floating rate treasury ETF versus other cash management solutions, but we have a broad lineup of ETFs that have compelling value propositions for these rate dynamics. Just this year, we launched our enhanced yield universal fund with Voya that's attracted over a $1 billion in assets in less than 12 months. And we have longer-term solutions, core bond solutions, high yield ETFs, mortgage related funds that are becoming better opportunity as these yields rise. And our fixed income model portfolios have delivered very consistent alpha and relative performance versus their benchmarks. So we see really a broad, diversified mix of inflows coming from other yield opportunities ahead.\nAnd now, of course, we have things beyond fixed income. And you could see, even just this year, how well-diversified the flows have been. We have got over 24 products with a $100 million of inflows this year, ranging from the commodities in Europe, thematics like artificial intelligence that have been working both in the Europe and in U.S. And I would say the highlight of the year and what I see the biggest franchise ahead has been our quality dividend growth franchise, which is taken in $300 billion globally this year, a very exciting cross section of funds covering many different regions, but working here in the U.S. and in Europe. And the simplicity of that story, buying high-quality stocks, high profitability stocks resonates each of these markets, and we think it's well-positioned for further flows, ahead.\nTo summarize, I just say, we already heard the breadth and depth of the inflows have very diversified opportunities ahead.\nJeremy Campbell:For the second question, I have our Head of Digital Assets at Will Peck answer it. Will the question is, and the workings are a little bit unclear, but heart of the question is around evolving regulatory regime for both crypto and blockchain tech. So, where does WisdomTree see the regulatory regime overtime? And how does that fit within our crypto and tokenization plans?\nWill Peck:Thanks, Jeremy, and good morning, everyone. So I guess I will answer this by saying, I think there is a lot that can be done within existing rules and relations here in the U.S. I mean, sure, there is some things you can point to that you wish you would have more clarity on. And I think some of the big issues of weight in the U.S. like -- aren't really a part of our business model here in the U.S. On crypto and blockchain impacts a lot of different regulators, state, federal, securities, commodities, banking, AML. And in the U.S., it's not just one body that makes decisions. So, I think things will move at different paces. But I think the ability to innovate within this environment has been a major advantage for WisdomTree as a company, at this current moment in time. So, it is actually an advantage for us and we are looking forward to continuing to press it going forward.\nJeremy Campbell:Great. And we will stay on deck for me here because, the last question we are going to take from a retail shareholder base is, probably one you have heard quite a bit lately without the news flow. But is there any update on the Bitcoin ETF?\nWill Peck:Well, it does seem like there has been some exciting momentum. It is certainly been in the news a lot. You have seen a lot of competitors and others do things here. We remain very focused on a spot Bitcoin ETF. We think it is the best execution for the asset class in the traditional channels in the U.S. And we are looking forward to continue engaging with regulators on it. he big points I make though is that, unlike a lot of other financial services firms in the U.S., WisdomTree does actually have Bitcoin product in the market today, that's both in Europe where we have got a leading set of ETPs that have had positive inflows this year, but also it's in the U.S. for retail customers with WisdomTree Prime. We're leveraging the same cold storage custody model that an ETF would use.\nWe just think we're doing it with more utility in the wallet. So, Bitcoin in the U.S. for retail investors it's something that we already offer today. We think it's actually a very good experience within WisdomTree Prime. And we're looking forward to continuing to press that and hone in on that in marketing messaging going forward.\nJeremy Campbell:Operator, that's all we have from the Say platform for this quarter. So please feel free to open up the line from the sell-side community.\nSee also20 Best Boarding Schools in the Worldand10 Best Bitcoin and Blockchain Stocks To Buy Now.\nTo continue reading the Q&A session, pleaseclick here.", 'Buffalo --News Direct-- RoundHouse Media There is little doubt that meme coins are a crucial part of crypto. They might be considered "jokes" without utility, but a revolution is happening. TL;DR: - Meme coins are worth over $16 billion and continue to rise in value. - Top meme coins,
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-29
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $668,983,415,394
- Hash Rate: 415637677.0177486
- Transaction Count: 410290.0
- Unique Addresses: 672955.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.72
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Bitcoin rallied early on Monday, reaching its highest level since mid-July as speculation persists over the approval of aspot Bitcoin ETFin the U.S.
The top cryptocurrency reached a high of $30,928 before retreating, and was trading around $30,600, still up 2.2%, as of publication. The coin now makes up 49.6% of the overall crypto market, according toCoinGecko.
Over the past seven days, Bitcoin has increased 9.8%—its biggest weekly gain since June—which increases the likelihood of a 10% average jump over the coming month based on historical data,according to Bloomberg.
The rally comes as traders begin banking on the possibility that the Securities and Exchange Commission willapprove a spot Bitcoin ETF by the end of the year.Although the agency has yet to approve such a product in the U.S., TradFi heavy hitters likeBlackRock and Fidelityhave filed applications to create one.
In August, the SEC faced a setback in trying to fend off the Bitcoin-based financial product, which gives investors actual exposure to the coin’s price movements. An appeals court ruled that the agency’s denial of crypto asset manager Grayscale’s Bitcoin ETF application was“arbitrary and capricious.”Earlier this month, the regulator dropped its intention to appeal the ruling, according to multiple reports.
The introduction of a spot Bitcoin ETF in theU.S. is likely to precipitate an influx of capitalin the crypto markets, and could push Bitcoin’s price to new heights. Already, a rumor—which proved to be false—that BlackRock’s spot Bitcoin ETF application had been approved pushed the cryptocurrency up thousands of dollars.
Analysts atJPMorganpredict that a spot Bitcoin ETF could be approved by Jan. 10. But as traders wait for the Bitcoin investment product to be approved, some have already been throwing cash into existing institutional investment products, with $55.3 million being invested last week in products related to Bitcoin, according toa report by CoinShares.
Some Bitcoin believers’ bets have already paid off. Michael Saylor’s MicroStrategy’s Bitcoin holdings, which thanks to a recent purchase stood at an average purchase price of $29,582, havebrought in about $160 milliondue to the recent price surge.
This story was originally featured onFortune.com...
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["Gemini Sues Genesis Over Ownership of $1.6B in Grayscale Bitcoin Trust Shares Gemini, a cryptocurrency exchange based in New York, has filed a lawsuit against digital asset lender Genesis over the ownership of $1.6 billion in Grayscale Bitcoin Trust (GBTC) shares. The case, filed in the United States Bankruptcy Court for the Southern District of New York, seeks to reclaim control of the shares in order to reimburse Gemini's Earn clients. Genesis was a lending partner for Gemini's Earn product, however following the collapse of FTX and accompanying industry chaos, Genesis banned withdrawals, leaving Earn consumers without access to their assets. Gemini attempts to recoup the funds needed to pay its clients' claims and says that Genesis is impeding the process. GBTC gained 205.73% so far this year , outperforming Bitcoin (BTC) ’s 106% year-to-date gain. This is largely due to the closing of the discount in net asset value (NAV), spurred on by investors’ optimism of an imminent spot Bitcoin ETF approval . Genesis is part of Digital Currency Group (DCG), which also controls the Grayscale Bitcoin Trust. Genesis declared bankruptcy earlier in January, and has stopped operating last month. Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form .", "Gemini, a cryptocurrency exchange based in New York, hasfileda lawsuit against digital asset lender Genesis over the ownership of $1.6 billion in Grayscale Bitcoin Trust (GBTC) shares.\nThe case, filed in the United States Bankruptcy Court for the Southern District of New York, seeks to reclaim control of the shares in order to reimburse Gemini's Earn clients.\nGenesis was a lending partner for Gemini's Earn product, however following the collapse of FTX and accompanying industry chaos, Genesis banned withdrawals, leaving Earn consumers without access to their assets. Gemini attempts to recoup the funds needed to pay its clients' claims and says that Genesis is impeding the process.\nGBTCgained 205.73% so far this year, outperformingBitcoin (BTC)’s 106% year-to-date gain. This is largely due to the closing of the discount in net asset value (NAV), spurred on by investors’ optimism of animminent spot Bitcoin ETF approval.\nGenesis is part of Digital Currency Group (DCG), which also controls the Grayscale Bitcoin Trust. Genesis declared bankruptcy earlier in January, and has stopped operating last month.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.", "Gemini, a cryptocurrency exchange based in New York, hasfileda lawsuit against digital asset lender Genesis over the ownership of $1.6 billion in Grayscale Bitcoin Trust (GBTC) shares.\nThe case, filed in the United States Bankruptcy Court for the Southern District of New York, seeks to reclaim control of the shares in order to reimburse Gemini's Earn clients.\nGenesis was a lending partner for Gemini's Earn product, however following the collapse of FTX and accompanying industry chaos, Genesis banned withdrawals, leaving Earn consumers without access to their assets. Gemini attempts to recoup the funds needed to pay its clients' claims and says that Genesis is impeding the process.\nGBTCgained 205.73% so far this year, outperformingBitcoin (BTC)’s 106% year-to-date gain. This is largely due to the closing of the discount in net asset value (NAV), spurred on by investors’ optimism of animminent spot Bitcoin ETF approval.\nGenesis is part of Digital Currency Group (DCG), which also controls the Grayscale Bitcoin Trust. Genesis declared bankruptcy earlier in January, and has stopped operating last month.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.", "Accordingto data from Brazil's revenue service agency, the stablecoinTether (USDT)has seen a considerable increase in adoption, accounting for 80% of all cryptocurrency transactions in the country.\nIn Brazil this year, USDT transactions totaled $271 billion Brazilian reais ($55 billion), substantially doubling the amount of Bitcoin transactions, which totaled $151 billion reais ($30 billion).\nStablecoins, such as USDT, are intended to have a stable value and are pegged to fiat currencies such as the US dollar and the Brazilian real. USDT has been gaining popularity in Brazil since 2021, and it surpassed Bitcoin's volume for the first time in July 2022.\nBrazil is stepping up its crypto efforts, with the Brazilian tax agency tracking crypto-related activity and investments held by Brazilian citizens abroad, while theBrazilian securities regulator plans to launch a second regulatory sandboxfor tokenization use cases next year.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.", "Gm,\nWhat’s that? You sold the fake ETF news?\nOhanon, do you ever learn?\nKeep reading if you want to learn how to avoid gettingbearholedin the upcoming bull run…\nPrices are up. Bears are being led to the slaughterhouse. You don’t want to be one of them. As your trusted Crypto Twitter aggregation service, we’ll make sure you don’t. Andrew Kang wrote up a great piece about “How to avoid getting BEAR HOLED and not miss epic rallies”\nTLDR:\nRallies in the crypto market do not necessarily require new money entering the space, as short term demand can drive momentum. There is significant demand for cryptocurrencies from various institutions and individuals all over the world, which some traders may underestimate, and can impact flows into the market.\nComputer coins gud coins.\nRead also:The Case for a 2024 Bull Run\nThe upcoming bull rodeo is probably not your first one. But any seasoned cowboy has to pay his dues first. Here aremistakes you want to avoid in the upcoming bull run:\nNo TLDR for this one – make sure you read and internalize every single one of those!\nRead also:7 Common Mistakes to Avoid in Trading as a Beginner\nBut what if your funds are too tight? The best way to make money in crypto is to already have some and multiply it. Luckily, this is crypto, where you can start from literally zero. Cue thelist of existing projects that could do an airdrop:\nTLDR: Chains such as LayerZero, ZKSync and Solana have a few very interesting projects that could do an airdrop. Invest your time if you don’t have money.\nRead also:How To Participate in Friend.Tech Airdrop?\nSomething to learn for the not-so-experienced crypto participants: be careful with projects that have a lot of VC funding. Not all VC coins are bad, but distinguishing the good from the bad takes practice and experience. Ignas from DeFi Research wrote an interesting thread titled “What do crypto VCs know that you don't?”\nTLDR: There is mistrust towards VCs for buying early and dumping on retail, and fair launches without VCs may be a better option. Conducting research and asking the right questions is important for retail investors, and collaborating with VCs may be beneficial for projects with experienced founders.\nRead also:What Are Cryptocurrency Hedge Funds?\nA few words of caution at the end. The next run may really be different than all the other ones before because the big boys with big pockets are coming. Macro big brain Lyn Alden wrote a grat thread about theimportance of learning about Bitcoinbefore those big boys show up:\nTLDR: Bitcoin is gaining more attention and understanding from institutions. Study it from a global perspective.\nRead also:Can Bitcoin Become Money?\nIt’s easy to get carried away now. But remember, this run is just getting started:\nAccording to Pentoshi, bottom is in and there is stablecoin data to back this statement up:\nHow bullish is the incoming ETF really though? Well, is it even incoming? Some grown-up from TradFi let us know that ticker symbols being listed on websites does not actually mean jack…you know:\nOoff, sounds like we have to look elsewhere fordramathen. How is SBF doing by the way?\nDepends on who you ask. He’s certainly doing better than his lawyers at this point, you’d think. Especially after his testimony last week that had plenty of WTF moments:\nAnd if that’s not enough, we can always look up ZachXBT’s account for the latest crypto exploit uncovered. Here’s one that targeted SIM swaps worth a cool $4.5M:\nConsidering the bullish price action, it was a rather quiet week though. Bitcoiners even dug up the old topic of “Is Hal Finney Satoshi” to keep themselves entertained (spoiler: he is not):\nRead:Is Hal Finney Satoshi Nakamoto?\nOne other big development was regulators trying to come after crypto on drummed-up accusations of terror financing. The Bitcoin community pushed back against this with an open letter from Preston Pysh:\nIs there something Vitalik wants to tell us?\nBig week coming up! See you on the other side of it…", "Last Week on Crypto Twitter: They Sold? Pump It Gm, What’s that? You sold the fake ETF news? Oh anon , do you ever learn? Keep reading if you want to learn how to avoid getting bearholed in the upcoming bull run… Whose Threads Are A Must-Read? Prices are up. Bears are being led to the slaughterhouse. You don’t want to be one of them. As your trusted Crypto Twitter aggregation service, we’ll make sure you don’t. Andrew Kang wrote up a great piece about “ How to avoid getting BEAR HOLED and not miss epic rallies ” TLDR: Rallies in the crypto market do not necessarily require new money entering the space, as short term demand can drive momentum. There is significant demand for cryptocurrencies from various institutions and individuals all over the world, which some traders may underestimate, and can impact flows into the market. Computer coins gud coins. Read also: The Case for a 2024 Bull Run The upcoming bull rodeo is probably not your first one. But any seasoned cowboy has to pay his dues first. Here are mistakes you want to avoid in the upcoming bull run : No TLDR for this one – make sure you read and internalize every single one of those! Read also: 7 Common Mistakes to Avoid in Trading as a Beginner But what if your funds are too tight? The best way to make money in crypto is to already have some and multiply it. Luckily, this is crypto, where you can start from literally zero. Cue the list of existing projects that could do an airdrop : TLDR: Chains such as LayerZero, ZKSync and Solana have a few very interesting projects that could do an airdrop. Invest your time if you don’t have money. Read also: How To Participate in Friend.Tech Airdrop? Something to learn for the not-so-experienced crypto participants: be careful with projects that have a lot of VC funding. Not all VC coins are bad, but distinguishing the good from the bad takes practice and experience. Ignas from DeFi Research wrote an interesting thread titled “ What do crypto VCs know that you don't? ” TLDR: There is mistrust towards VCs for buying early and dumping on retail, and fair launches without VCs may be a better option. Conducting research and asking the right questions is important for retail investors, and collaborating with VCs may be beneficial for projects with experienced founders. Story continues Read also : What Are Cryptocurrency Hedge Funds? A few words of caution at the end. The next run may really be different than all the other ones before because the big boys with big pockets are coming. Macro big brain Lyn Alden wrote a grat thread about the importance of learning about Bitcoin before those big boys show up: TLDR: Bitcoin is gaining more attention and understanding from institutions. Study it from a global perspective. Read also: Can Bitcoin Become Money? Wisdom Of The Week It’s easy to get carried away now. But remember, this run is just getting started: Talk of the Town According to Pentoshi, bottom is in and there is stablecoin data to back this statement up: How bullish is the incoming ETF really though? Well, is it even incoming? Some grown-up from TradFi let us know that ticker symbols being listed on websites does not actually mean jack…you know: Ooff, sounds like we have to look elsewhere for drama then. How is SBF doing by the way? Depends on who you ask. He’s certainly doing better than his lawyers at this point, you’d think. Especially after his testimony last week that had plenty of WTF moments: And if that’s not enough, we can always look up ZachXBT’s account for the latest crypto exploit uncovered. Here’s one that targeted SIM swaps worth a cool $4.5M: Considering the bullish price action, it was a rather quiet week though. Bitcoiners even dug up the old topic of “Is Hal Finney Satoshi” to keep themselves entertained (spoiler: he is not): Read: Is Hal Finney Satoshi Nakamoto? One other big development was regulators trying to come after crypto on drummed-up accusations of terror financing. The Bitcoin community pushed back against this with an open letter from Preston Pysh: Memes Is there something Vitalik wants to tell us? Big week coming up! See you on the other side of it…", 'Silicon Valley, California, United States --News Direct-- King Newswire ( King NewsWire) - A vanity address is essentially a personalized Bitcoin address that has been customized to spell out a specific word, phrase or name. These unique addresses typically start with the letters or words chosen by the user and are more memorable than the complex string of letters and numbers generated by default. "Our new tool enables users to create fully customized Bitcoin addresses that reflect their personal or business brand", said Chris Larsen, a spokesperson for Bitcoin Vanity Address Generator. “Gone are the days when cryptocurrency users had to settle for randomly generated, unmemorable addresses. With our new tool, Bitcoin users can create custom addresses that are easy to remember, fun, and engaging.” The Bitcoin Vanity Address Generator tool is easy to use and available to all users, whether they are new to cryptocurrency or seasoned Bitcoin experts. Users simply need to enter their chosen characters or keywords, and the tool generates the corresponding Bitcoin address. The tool is designed to be user-friendly, and users can create custom Bitcoin addresses in seconds. "Our tool provides a simple and effective solution for creating custom Bitcoin addresses", said the spokesperson. "Whether you want a unique Bitcoin address that reflects your personality or a custom address for your business, our tool has got you covered. Customized Bitcoin addresses are becoming increasingly popular, and we believe our tool will help to drive even greater adoption of cryptocurrencies.". Bitcoin Vanity Address Generator\'s new tool is set to transform the way Bitcoin addresses are created and used. With its ease of use, user-friendliness, and accessibility, Bitcoin users can now create personalized Bitcoin addresses that will make their transactions more memorable and enjoyable. In conclusion, the launch of Bitcoin Vanity Address Generator\'s new tool has marked a significant step forward in the development of custom Bitcoin addresses. The tool is set to become an essential tool for Bitcoin users worldwide, enabling them to create fully customized Bitcoin addresses that reflect their personalities and businesses with ease. For more information about Bitcoin Vanity Address Generator and its new tool, visit the company\'s service today. Story continues Contact Details Vanity Address Generator Changpeng Zhao [email protected] Company Website https://bitcoin-vanity-address.com/ View source version on newsdirect.com: https://newsdirect.com/news/bitcoin-vanity-address-generator-launches-new-tool-to-create-custom-bitcoin-addresses-421286815', 'Silicon Valley, California, United States --News Direct-- King Newswire ( King NewsWire) - A vanity address is essentially a personalized Bitcoin address that has been customized to spell out a specific word, phrase or name. These unique addresses typically start with the letters or words chosen by the user and are more memorable than the complex string of letters and numbers generated by default. "Our new tool enables users to create fully customized Bitcoin addresses that reflect their personal or business brand", said Chris Larsen, a spokesperson for Bitcoin Vanity Address Generator. “Gone are the days when cryptocurrency users had to settle for randomly generated, unmemorable addresses. With our new tool, Bitcoin users can create custom addresses that are easy to remember, fun, and engaging.” The Bitcoin Vanity Address Generator tool is easy to use and available to all users, whether they are new to cryptocurrency or seasoned Bitcoin experts. Users simply need to enter their chosen characters or keywords, and the tool generates the corresponding Bitcoin address. The tool is designed to be user-friendly, and users can create custom Bitcoin addresses in seconds. "Our tool provides a simple and effective solution for creating custom Bitcoin addresses", said the spokesperson. "Whether you want a unique Bitcoin address that reflects your personality or a custom address for your business, our tool has got you covered. Customized Bitcoin addresses are becoming increasingly popular, and we believe our tool will help to drive even greater adoption of cryptocurrencies.". Bitcoin Vanity Address Generator\'s new tool is set to transform the way Bitcoin addresses are created and used. With its ease of use, user-friendliness, and accessibility, Bitcoin users can now create personalized Bitcoin addresses that will make their transactions more memorable and enjoyable. In conclusion, the launch of Bitcoin Vanity Address Generator\'s new tool has marked a significant step forward in the development of custom Bitcoin addresses. The tool is set to become an essential tool for Bitcoin users worldwide, enabling them to create fully customized Bitcoin addresses that reflect their personalities and businesses with ease. For more information about Bitcoin Vanity Address Generator and its new tool, visit the company\'s service today. Story continues Contact Details Vanity Address Generator Changpeng Zhao [email protected] Company Website https://bitcoin-vanity-address.com/ View source version on newsdirect.com: https://newsdirect.com/news/bitcoin-vanity-address-generator-launches-new-tool-to-create-custom-bitcoin-addresses-421286815', 'Silicon Valley, California, United States --News Direct-- King Newswire ( King NewsWire) - A vanity address is essentially a personalized Bitcoin address that has been customized to spell out a specific word, phrase or name. These unique addresses typically start with the letters or words chosen by the user and are more memorable than the complex string of letters and numbers generated by default. "Our new tool enables users to create fully customized Bitcoin addresses that reflect their personal or business brand", said Chris Larsen, a spokesperson for Bitcoin Vanity Address Generator. “Gone are the days when cryptocurrency users had to settle for randomly generated, unmemorable addresses. With our new tool, Bitcoin users can create custom addresses that are easy to remember, fun, and engaging.” The Bitcoin Vanity Address Generator tool is easy to use and available to all users, whether they are new to cryptocurrency or seasoned Bitcoin experts. Users simply need to enter their chosen characters or keywords, and the tool generates the corresponding Bitcoin address. The tool is designed to be user-friendly, and users can create custom Bitcoin addresses in seconds. "Our tool provides a simple and effective solution for creating custom Bitcoin addresses", said the spokesperson. "Whether you want a unique Bitcoin address that reflects your personality or a custom address for your business, our tool has got you covered. Customized Bitcoin addresses are becoming increasingly popular, and we believe our tool will help to drive even greater adoption of cryptocurrencies.". Bitcoin Vanity Address Generator\'s new tool is set to transform the way Bitcoin addresses are created and used. With its ease of use, user-friendliness, and accessibility, Bitcoin users can now create personalized Bitcoin addresses that will make their transactions more memorable and enjoyable. In conclusion, the launch of Bitcoin Vanity Address Generator\'s new tool has marked a significant step forward in the development of custom Bitcoin addresses. The tool is set to become an essential tool for Bitcoin users worldwide, enabling them to create fully customized Bitcoin addresses that reflect their personalities and businesses with ease. For more information about Bitcoin Vanity Address Generator and its new tool, visit the company\'s service today. Story continues Contact Details Vanity Address Generator Changpeng Zhao [email protected] Company Website https://bitcoin-vanity-address.com/ View source version on newsdirect.com: https://newsdirect.com/news/bitcoin-vanity-address-generator-launches-new-tool-to-create-custom-bitcoin-addresses-421286815', 'In this article, we discuss the 13 best FMCG stocks to buy now. If you want to skip our industry analysis you can see the 5 Best FMCG Stocks To Buy Now . Consumer confidence has remained relatively stable throughout the summer. According to a survey by McKinsey , a third of US consumers, up from 26% in June 2022, express optimism about their financial well-being and anticipate improvements in the US economy in the near future. This slight increase in optimism is partly attributed to their perception of prices. Consumers are no longer witnessing the significant price spikes that had concerned them in 2022 and early 2023. 80% of US consumers, as opposed to just 10% in 2022, now report price stability in household supplies over the past three months. When individuals aim to reduce their expenses, the initial step often involves cutting down on food expenditures. Within that same survey, about 28% of US consumers have indicated that they\'ve curtailed their food spending as part of their cost-saving measures. In the face of such market environments, the Fast-moving consumer goods (FMCG) Fast-moving consumer goods, also called consumer packaged goods (CPG), are products in high demand, known for their affordability, and consequently, they have a rapid turnover. These items are considered "fast-moving" because they quickly sell off the shelves of stores and supermarkets, given their regular use by consumers. As one of the world\'s largest industries, the global FMCG sector has maintained robust and steady growth over the past decade, thanks to the growing trend of experiential retailing, where shopping is viewed as a social activity by consumers. The worldwide FMCG market is projected to attain a size of $18,939.4 billion by 2031, with a compound annual growth rate (CAGR) of 5.1% from 2022 to 2031. In the face of inflation and challenging market conditions, people still need to purchase essentials like food. This resilience makes FMCG stocks a more favorable option compared to other sectors in the stock market. Additionally, many grocery stocks offer dividends, providing investors with a consistent source of passive income. Some of the best FMCG stocks encompass Walmart Inc. (NYSE: WMT ), The Procter & Gamble Company (NYSE: PG ), PepsiCo, Inc. (NASDAQ: PEP ), and Colgate-Palmolive Company (NYSE: CL ), among others, with more in-depth discussions provided below. These stocks are also in high demand among hedge funds. Story continues 13 Best FMCG Stocks To Buy Now Photo by Franki Chamaki on Unsplash Our Methodology Following a comprehensive analysis of FMCG stocks listed on NYSE and NASDAQ, we have curated a selection of 13 of the best FMCG stocks that represent a valuable asset for investors looking to diversify their portfolio. These stocks exhibit strong financial fundamentals and have gained popularity among the 910 elite hedge funds monitored by Insider Monkey as of the conclusion of the second quarter of 2023. 13. Dollar Tree, Inc. (NASDAQ: DLTR ) Number of Hedge Fund Holders: 37 Dollar Tree, Inc. (NASDAQ:DLTR) is a retail chain in the United States offering a variety of products at multiple price points. The company is based in Chesapeake, Virginia, and boasts a network of 15,115 stores spread across the 48 contiguous U.S. states and Canada. Leveraging a widespread logistics network comprising 24 distribution centers, Dollar Tree primarily caters to price-conscious customers. In Q2 2023, the company\'s consolidated net sales, encompassing the revenue from its three primary stores - Dollar Tree, Family Dollar, and Enterprise, witnessed a robust increase of 8.2%, reaching $7.32 billion. According to Insider Monkey’s third quarter database, 37 hedge funds were bullish on Dollar Tree, Inc. (NASDAQ:DLTR), compared to 38 funds in the earlier quarter. Paul Hilal’s Mantle Ridge LP is the biggest position holder in the company, with 11.36 million shares worth $1.63 billion. Madison Mid Cap Fund made the following comment about Dollar Tree, Inc. (NASDAQ:DLTR) in its Q3 2023 investor letter: “The bottom five detractors for the quarter were Dollar Tree, Inc. (NASDAQ:DLTR), MKS Instruments, CarMax, Floor & Décor, and Liberty Media- Formula One. The new management team at Dollar Tree is investing heavily to drive growth. While we are beginning to see some early signs of progress, including strong positive consumer traffic to their stores in the third quarter, these investments, combined with a challenging retail environment, are negatively impacting margins in the short run. We added to Dollar Tree following the stock’s weakness in the quarter. Investors are concerned over weaker than expected margins, primarily caused by a mix shift to consumable products (versus higher margin discretionary products) and high theft (or inventory ‘shrink’). These dynamics have also been experienced by Dollar Tree’s closest peer, Dollar General, and broadly across the retail landscape. While certainly not favorable in the short term, we view these as natural cyclical aspects of the retail industry that won’t be sustained forever. However, more important to the long-term earnings power of the business, we are encouraged by some of the early results from the various initiatives management has in place. Namely, customer traffic has meaningfully increased at both the Dollar Tree and Family Dollar banners, driving solid market share gains and increased sales per square foot, which we believe to be one of the most important metrics to track the company’s progress. With these promising early results, we used the cloud of cyclical headwinds to opportunistically add to our position.” Much like Walmart Inc. (NYSE:WMT), The Procter & Gamble Company (NYSE:PG), PepsiCo, Inc. (NASDAQ:PEP), and Colgate-Palmolive Company (NYSE:CL), Dollar Tree, Inc. (NASDAQ:DLTR) is one of the best FMCG stocks to buy now according to elite investors. 12. Sysco Corporation (NYSE: SYY ) Number of Hedge Fund Holders: 39 Sysco Corporation (NYSE:SYY), the largest wholesale food distributor in the United States, is a multinational corporation specializing in the marketing and distribution of food products, smallwares, kitchen equipment, and tabletop items to restaurants, healthcare facilities, and educational institutions. On August 24, Sysco Corporation (NYSE:SYY) announced its quarterly dividend of $0.50 per share, maintaining its dividend at the same level as the previous one. With an impressive track record of consistently increasing dividends for 54 years, the company is regarded as one of the top FMCG stocks. As of October 28, the stock boasted a dividend yield of 3.10%. In Q2 2023, the number of hedge funds monitored by Insider Monkey holding stakes in Sysco Corporation (NYSE:SYY) increased to 39, up from 34 in the previous quarter. The cumulative value of these holdings exceeded $703 million. Yacktman Asset Management , with over 1.5 million shares, was the company\'s largest stakeholder in Q2. 11. The Kroger Co. (NYSE: KR ) Number of Hedge Fund Holders: 43 The Kroger Co. (NYSE:KR), commonly known as Kroger, is an American retail corporation that operates a chain of supermarkets and multi-department stores throughout the United States, spanning 35 states and totaling more than 2,700 locations. This extensive presence solidifies its position as one of the world\'s major food retailers. On September 14, The Kroger Co. (NYSE:KR) made an announcement regarding its regular quarterly dividend, which stood at $0.29 per share, consistent with its history of maintaining dividends. This marks the company\'s 17th consecutive year of increasing dividends, reinforcing its reputation as a top choice for long-term investors. As of October 28, the stock offered an appealing dividend yield of 2.61%, making it an attractive option for income-oriented investors. In the second quarter of 2023, Warren Buffett\'s Berkshire Hathaway held 50 million shares of The Kroger Co. (NYSE:KR), with a total value exceeding $2.3 billion, representing 0.67% of the firm\'s portfolio. 10. Monster Beverage Corporation (NASDAQ: MNST ) Number of Hedge Fund Holders: 44 Monster Beverage Corporation (NASDAQ:MNST) is an American company specializing in the development, marketing, sale, and distribution of energy drink beverages and concentrates, including popular brands such as Monster Energy, Relentless, and Burn. In late July, Monster Beverage Corporation (NASDAQ:MNST) announced the successful completion of an acquisition through its subsidiary, Blast Asset Acquisition LLC. The company acquired a significant portion of assets from Vital Pharmaceuticals, Inc., and affiliated entities collectively known as "Bang Energy." This acquisition was executed at an approximate purchase price of $362 million, with potential adjustments. The acquired assets include Bang Energy beverages and a beverage production facility situated in Phoenix, Arizona. According to data from Insider Monkey, a total of 44 hedge funds held stakes in Monster Beverage Corporation. The most substantial ownership was attributed to Neal C. Bradsher\'s Broadwood Capital , which held a significant stake in the company valued at $535 million. 9. General Mills, Inc. (NYSE: GIS ) Number of Hedge Fund Holders: 48 General Mills, Inc. (NYSE:GIS) is a prominent American multinational company recognized for its production and marketing of branded processed consumer foods, widely available through retail channels. The company\'s origins trace back to its establishment near Saint Anthony Falls in Minneapolis, along the Mississippi River, where it initially gained prominence as a significant flour milling operation. On September 21, RBC Capital revised its price target for General Mills, Inc. (NYSE:GIS), lowering it from $78 to $76 while maintaining a Sector Perform rating on the stock. In their research note, the firm characterized the company\'s Q1 results as relatively straightforward, with challenges in the Pet segment offset by strong performance in the Foodservice and International sectors. Additionally, the firm upholds its expectations for General Mills, Inc. (NYSE:GIS), anticipating organic net sales growth of 3% and EPS growth of 4% for FY24. As of the end of Q2 2023, 48 hedge fund investors had allocated their investments to General Mills, Inc. (NYSE:GIS), as indicated by the Insider Monkey database. The largest shareholder of General Mills, Inc. (NYSE:GIS) was Bridgewater Associates , with a holding of approximately 1.1 million shares valued at about $81.6 million. 8. Philip Morris International Inc. (NYSE: PM ) Number of Hedge Fund Holders: 54 Philip Morris International Inc. (NYSE:PM) is a multinational tobacco corporation with its origins in the United States, serving consumers in over 180 countries globally. The company\'s flagship and best-selling product is Marlboro, and it is frequently grouped with other tobacco industry giants under the umbrella term "Big Tobacco." On September 13, Philip Morris International Inc. (NYSE:PM) declared a quarterly dividend of $1.30 per share, representing a 2.4% increase compared to the previous dividend of $1.27. Shareholders received this dividend on October 12, and the record date for eligible shareholders was set at September 27. Insider Monkey\'s second-quarter data indicated that 54 hedge funds expressed a bullish stance on Philip Morris International Inc. (NYSE:PM), slightly down from the 55 funds in the previous quarter. Terry Smith\'s Fundsmith LLP emerged as one of the company\'s major stakeholders, with a holding of 15.8 million shares valued at $1.54 billion. 7. Mondelez International, Inc. (NASDAQ: MDLZ ) Number of Hedge Fund Holders: 57 Mondelez International, Inc. (NASDAQ:MDLZ), branded as Mondelēz International, is a Chicago-based multinational company specializing in confectionery, food, beverage, and snack food. With an annual revenue of approximately $26 billion, Mondelez conducts its business in roughly 160 countries. At present, Mondelez International, Inc. (NASDAQ:MDLZ) offers a quarterly dividend of $0.425 per share. Notably, the company has consistently increased its dividends for the past nine years. As of October 28, the stock boasts a dividend yield of 2.61%. In Q2 2023, the count of hedge funds in Insider Monkey’s database holding positions in Mondelez International, Inc. (NASDAQ:MDLZ) increased to 55, up from 51 in the preceding quarter. The total value of these holdings now exceeds $1.74 billion. Among these hedge funds, Holocene Advisors was the company’s leading stakeholder in Q2. 6. Colgate-Palmolive Company (NYSE: CL ) Number of Hedge Fund Holders: 58 Colgate-Palmolive Company (NYSE:CL) is a multinational corporation headquartered in the heart of Midtown Manhattan, New York City, conveniently located along Park Avenue. The company\'s primary focus revolves around the manufacturing, distribution, and offering of a diverse range of household, healthcare, personal care, and veterinary products. On September 14, the company declared a quarterly dividend of $0.48 per share, maintaining a consistent dividend policy. Remarkably, Colgate-Palmolive Company (NYSE:CL) has consistently increased its dividends for an impressive streak spanning 61 consecutive years. As of October 28, the stock boasted a dividend yield of 2.67%. According to Insider Monkey\'s second-quarter 2023 database, which profiles 910 hedge funds, 58 of these funds held positions in Colgate-Palmolive Company (NYSE:CL). The largest stockholder among them was First Eagle Investment Management , with a portfolio comprising 11.1 million shares of Colgate-Palmolive Company (NYSE:CL), collectively valued at $854.6 million. Colgate-Palmolive Company (NYSE:CL), like Walmart Inc. (NYSE:WMT), The Procter & Gamble Company (NYSE:PG), and PepsiCo, Inc. (NASDAQ:PEP), ranks as one of the best FMCG stocks to invest in. Click here to continue reading and check out 5 Best FMCG Stocks To Buy Now . Suggested articles: Analysts on Wall Street Lower Ratings for These 10 Stocks 25 Most Successful Small Business Ideas 10 Best Bitcoin and Blockchain Stocks To Buy Now Disclosure: None. 13 Best FMCG Stocks To Buy Now is originally published on Insider Monkey.', 'In this article, we discuss the 13 best FMCG stocks to buy now. If you want to skip our industry analysis you can see the5 Best FMCG Stocks To Buy Now.\nConsumer confidence has remained relatively stable throughout the summer. According to a survey byMcKinsey, a third of US consumers, up from 26% in June 2022, express optimism about their financial well-being and anticipate improvements in the US economy in the near future. This slight increase in optimism is partly attributed to their perception of prices. Consumers are no longer witnessing the significant price spikes that had concerned them in 2022 and early 2023. 80% of US consumers, as opposed to just 10% in 2022, now report price stability in household supplies over the past three months. When individuals aim to reduce their expenses, the initial step often involves cutting down on food expenditures. Within that same survey, about 28% of US consumers have indicated that they\'ve curtailed their food spending as part of their cost-saving measures. In the face of such market environments, the Fast-moving consumer goods (FMCG)\nFast-moving consumer goods, also called consumer packaged goods (CPG), are products in high demand, known for their affordability, and consequently, they have a rapid turnover. These items are considered "fast-moving" because they quickly sell off the shelves of stores and supermarkets, given their regular use by consumers. As one of the world\'s largest industries, the global FMCG sector has maintained robust and steady growth over the past decade, thanks to the growing trend of experiential retailing, where shopping is viewed as a social activity by consumers. Theworldwide FMCG marketis projected to attain a size of $18,939.4 billion by 2031, with a compound annual growth rate (CAGR) of 5.1% from 2022 to 2031.\nIn the face of inflation and challenging market conditions, people still need to purchase essentials like food. This resilience makes FMCG stocks a more favorable option compared to other sectors in the stock market. Additionally, many grocery stocks offer dividends, providing investors with a consistent source of passive income. Some of the best FMCG stocks encompass Walmart Inc. (NYSE:WMT), The Procter & Gamble Company (NYSE:PG), PepsiCo, Inc. (NASDAQ:PEP), and Colgate-Palmolive Company (NYSE:CL), among others, with more in-depth discussions provided below. These stocks are also in high demand among hedge funds.\nPhoto byFranki ChamakionUnsplash\nOur Methodology\nFollowing a comprehensive analysis of FMCG stocks listed on NYSE and NASDAQ, we have curated a selection of 13 of the best FMCG stocks that represent a valuable asset for investors looking to diversify their portfolio. These stocks exhibit strong financial fundamentals and have gained popularity among the 910 elite hedge funds monitored by Insider Monkey as of the conclusion of the second quarter of 2023.\nNumber of Hedge Fund Holders: 37\nDollar Tree, Inc. (NASDAQ:DLTR) is a retail chain in the United States offering a variety of products at multiple price points. The company is based in Chesapeake, Virginia, and boasts a network of 15,115 stores spread across the 48 contiguous U.S. states and Canada. Leveraging a widespread logistics network comprising 24 distribution centers, Dollar Tree primarily caters to price-conscious customers. In Q2 2023, the company\'s consolidated net sales, encompassing the revenue from its three primary stores - Dollar Tree, Family Dollar, and Enterprise, witnessed a robust increase of 8.2%, reaching $7.32 billion.\nAccording to Insider Monkey’s third quarter database, 37 hedge funds were bullish on Dollar Tree, Inc. (NASDAQ:DLTR), compared to 38 funds in the earlier quarter. Paul Hilal’sMantle Ridge LPis the biggest position holder in the company, with 11.36 million shares worth $1.63 billion.\nMadison Mid Cap Fund made the following comment about Dollar Tree, Inc. (NASDAQ:DLTR) in its Q3 2023 investor letter:\n“The bottom five detractors for the quarter wereDollar Tree, Inc.(NASDAQ:DLTR), MKS Instruments, CarMax, Floor & Décor, and Liberty Media- Formula One. The new management team at Dollar Tree is investing heavily to drive growth. While we are beginning to see some early signs of progress, including strong positive consumer traffic to their stores in the third quarter, these investments, combined with a challenging retail environment, are negatively impacting margins in the short run.\nMuch like Walmart Inc. (NYSE:WMT), The Procter & Gamble Company (NYSE:PG), PepsiCo, Inc. (NASDAQ:PEP), and Colgate-Palmolive Company (NYSE:CL), Dollar Tree, Inc. (NASDAQ:DLTR) is one of the best FMCG stocks to buy now according to elite investors.\nNumber of Hedge Fund Holders: 39\nSysco Corporation (NYSE:SYY), the largest wholesale food distributor in the United States, is a multinational corporation specializing in the marketing and distribution of food products, smallwares, kitchen equipment, and tabletop items to restaurants, healthcare facilities, and educational institutions.\nOn August 24, Sysco Corporation (NYSE:SYY) announced its quarterly dividend of $0.50 per share, maintaining its dividend at the same level as the previous one. With an impressive track record of consistently increasing dividends for 54 years, the company is regarded as one of the top FMCG stocks. As of October 28, the stock boasted a dividend yield of 3.10%.\nIn Q2 2023, the number of hedge funds monitored by Insider Monkey holding stakes in Sysco Corporation (NYSE:SYY) increased to 39, up from 34 in the previous quarter. The cumulative value of these holdings exceeded $703 million.Yacktman Asset Management, with over 1.5 million shares, was the company\'s largest stakeholder in Q2.\nNumber of Hedge Fund Holders: 43\nThe Kroger Co. (NYSE:KR), commonly known as Kroger, is an American retail corporation that operates a chain of supermarkets and multi-department stores throughout the United States, spanning 35 states and totaling more than 2,700 locations. This extensive presence solidifies its position as one of the world\'s major food retailers.\nOn September 14, The Kroger Co. (NYSE:KR) made an announcement regarding its regular quarterly dividend, which stood at $0.29 per share, consistent with its history of maintaining dividends. This marks the company\'s 17th consecutive year of increasing dividends, reinforcing its reputation as a top choice for long-term investors. As of October 28, the stock offered an appealing dividend yield of 2.61%, making it an attractive option for income-oriented investors.\nIn the second quarter of 2023, Warren Buffett\'s Berkshire Hathaway held 50 million shares of The Kroger Co. (NYSE:KR), with a total value exceeding $2.3 billion, representing 0.67% of the firm\'s portfolio.\nNumber of Hedge Fund Holders: 44\nMonster Beverage Corporation (NASDAQ:MNST) is an American company specializing in the development, marketing, sale, and distribution of energy drink beverages and concentrates, including popular brands such as Monster Energy, Relentless, and Burn.\nIn late July, Monster Beverage Corporation (NASDAQ:MNST) announced the successful completion of an acquisition through its subsidiary, Blast Asset Acquisition LLC. The company acquired a significant portion of assets from Vital Pharmaceuticals, Inc., and affiliated entities collectively known as "Bang Energy." This acquisition was executed at an approximate purchase price of $362 million, with potential adjustments. The acquired assets include Bang Energy beverages and a beverage production facility situated in Phoenix, Arizona.\nAccording to data from Insider Monkey, a total of 44 hedge funds held stakes in Monster Beverage Corporation. The most substantial ownership was attributed to Neal C. Bradsher\'sBroadwood Capital, which held a significant stake in the company valued at $535 million.\nNumber of Hedge Fund Holders: 48\nGeneral Mills, Inc. (NYSE:GIS) is a prominent American multinational company recognized for its production and marketing of branded processed consumer foods, widely available through retail channels. The company\'s origins trace back to its establishment near Saint Anthony Falls in Minneapolis, along the Mississippi River, where it initially gained prominence as a significant flour milling operation.\nOn September 21, RBC Capital revised its price target for General Mills, Inc. (NYSE:GIS), lowering it from $78 to $76 while maintaining a Sector Perform rating on the stock. In their research note, the firm characterized the company\'s Q1 results as relatively straightforward, with challenges in the Pet segment offset by strong performance in the Foodservice and International sectors. Additionally, the firm upholds its expectations for General Mills, Inc. (NYSE:GIS), anticipating organic net sales growth of 3% and EPS growth of 4% for FY24.\nAs of the end of Q2 2023, 48 hedge fund investors had allocated their investments to General Mills, Inc. (NYSE:GIS), as indicated by the Insider Monkey database. The largest shareholder of General Mills, Inc. (NYSE:GIS) wasBridgewater Associates, with a holding of approximately 1.1 million shares valued at about $81.6 million.\nNumber of Hedge Fund Holders: 54\nPhilip Morris International Inc. (NYSE:PM) is a multinational tobacco corporation with its origins in the United States, serving consumers in over 180 countries globally. The company\'s flagship and best-selling product is Marlboro, and it is frequently grouped with other tobacco industry giants under the umbrella term "Big Tobacco."\nOn September 13, Philip Morris International Inc. (NYSE:PM) declared a quarterly dividend of $1.30 per share, representing a 2.4% increase compared to the previous dividend of $1.27. Shareholders received this dividend on October 12, and the record date for eligible shareholders was set at September 27.\nInsider Monkey\'s second-quarter data indicated that 54 hedge funds expressed a bullish stance on Philip Morris International Inc. (NYSE:PM), slightly down from the 55 funds in the previous quarter. Terry Smith\'sFundsmith LLPemerged as one of the company\'s major stakeholders, with a holding of 15.8 million shares valued at $1.54 billion.\nNumber of Hedge Fund Holders: 57\nMondelez International, Inc. (NASDAQ:MDLZ), branded as Mondelēz International, is a Chicago-based multinational company specializing in confectionery, food, beverage, and snack food. With an annual revenue of approximately $26 billion, Mondelez conducts its business in roughly 160 countries. At present, Mondelez International, Inc. (NASDAQ:MDLZ) offers a quarterly dividend of $0.425 per share. Notably, the company has consistently increased its dividends for the past nine years. As of October 28, the stock boasts a dividend yield of 2.61%.\nIn Q2 2023, the count of hedge funds in Insider Monkey’s database holding positions in Mondelez International, Inc. (NASDAQ:MDLZ) increased to 55, up from 51 in the preceding quarter. The total value of these holdings now exceeds $1.74 billion. Among these hedge funds,Holocene Advisorswas the company’s leading stakeholder in Q2.\nNumber of Hedge Fund Holders: 58\nColgate-Palmolive Company (NYSE:CL) is a multinational corporation headquartered in the heart of Midtown Manhattan, New York City, conveniently located along Park Avenue. The company\'s primary focus revolves around the manufacturing, distribution, and offering of a diverse range of household, healthcare, personal care, and veterinary products.\nOn September 14, the company declared a quarterly dividend of $0.48 per share, maintaining a consistent dividend policy. Remarkably, Colgate-Palmolive Company (NYSE:CL) has consistently increased its dividends for an impressive streak spanning 61 consecutive years. As of October 28, the stock boasted a dividend yield of 2.67%.\nAccording to Insider Monkey\'s second-quarter 2023 database, which profiles 910 hedge funds, 58 of these funds held positions in Colgate-Palmolive Company (NYSE:CL). The largest stockholder among them wasFirst Eagle Investment Management, with a portfolio comprising 11.1 million shares of Colgate-Palmolive Company (NYSE:CL), collectively valued at $854.6 million.\nColgate-Palmolive Company (NYSE:CL), like Walmart Inc. (NYSE:WMT), The Procter & Gamble Company (NYSE:PG), and PepsiCo, Inc. (NASDAQ:PEP), ranks as one of the best FMCG stocks to invest in.\nClick here to continue reading and check out5 Best FMCG Stocks To Buy Now.\nSuggested articles:\n• Analysts on Wall Street Lower Ratings for These 10 Stocks\n• 25 Most Successful Small Business Ideas\n• 10 Best Bitcoin and Blockchain Stocks To Buy Now\nDisclosure: None.13 Best FMCG Stocks To Buy Nowis originally published on Insider Monkey.', 'The price of Bitcoin (BTC) has been rising steadily over the past two weeks, growing more than 25%. In the last week itself, it has gone up more than 14% and has briefly breached the $35,000 mark. Currently, it holds firm above the $34,000 support. This broad-based BTC rally has coincided with mixed earnings numbers coming in from big tech in the stock market, and there is a visible shift being witnessed in investors who are fleeing the stock market to apply buy-side pressure on Bitcoin. It is widely speculated that the benchmark crypto might breach the $40,000 mark very soon. Being the most well-known and “reliable” digital coin, BTC has solidified its position within the market itself. In an uncertain environment, investors turn less speculative and rush to safety. The crypto market itself is hardly ever considered stable or safe, but even in this space, investors are prone to clinging to BTC in times of crypto rallies. With growing institutional acceptance for crypto across geographies, the benchmark digital currency might be entering a period of less volatility and sustained growth. Multiple traditional financial houses applying for a Bitcoin ETF have also acted as a tailwind. However, this recent rally might be even more significant because it lends credence to the notion that investors are considering Bitcoin as a viable option in times when the stock market is getting routed over a period of time. It will be prudent to watch a few bitcoin-exposed stocks in this light. Block Inc. SQ is an online digital and mobile payment platform for consumers and merchants. Users of Block’s platforms can buy, sell, send and receive Bitcoin. In addition, SQ’s platforms allow developers to build decentralized finance applications to run on programmable blockchains.SQ’s expected earnings growth rate for the current year is 69%. The Zacks Consensus Estimate for its current-year earnings has improved 0.6% ove
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-30
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $670,220,273,494
- Hash Rate: 482540025.495944
- Transaction Count: 463202.0
- Unique Addresses: 779588.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.68
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: The bitcoin (BTC) mining industry is at a crucible moment, as the approval of a spot BTC exchange-traded-fund (ETF) could catalyze a rally against a backdrop of record hashrates and the impending block reward halving that threaten the industry's revenues and profitability, JPMorgan (JPM) said in a research report Wednesday. The bank favors mining operators that offer the best relative value in light of their “existing hashrate, operational efficiency, power contracts, funded growth plans and liquidity,” analysts Reginald Smith and Charles Pearce wrote. Read more: Bitcoin Halving Is Coming and Only the Most Efficient Miners Will Survive JPMorgan initiates coverage of CleanSpark (CLSK) with an overweight rating and a price target of $5.50; Marathon Digital (MARA) at underweight with a $5 target; Riot Platforms (RIOT) at underweight with a $6.50 target, and Cipher Mining (CIFR) at neutral. The bank also upgraded Iris Energy (IREN) to overweight from neutral. The U.S. Securities and Exchange Commission (SEC) has delayed its decision on whether or not to approve a spot bitcoin ETF until this month. The crypto market is hopeful that any approval will trigger a flood of mainstream money into the sector. CleanSpark is the bank’s top pick, offering the best balance of “scale, growth potential, power costs and relative value.” The analysts said that Marathon is the largest mining operator but has the highest energy costs and lowest margins. Meanwhile, Riot has relatively low power costs and liquidity but is the most expensive stock in their coverage universe. Among the peers, Cipher Mining has the lowest power costs but is “growth constrained,” the report noted. The bank estimates the four-year block reward opportunity at around $20 billion at current bitcoin prices. However, the looming block reward halving, expected in the second quarter of 2024, could impact profitability. It estimates that as much as 20% of the network hashrate is at risk from halving as less efficient mining computers are decommissioned. Read more: Listed Bitcoin Miners Could be the Ultimate Bet for 2024: Matrixport...
- Reddit Posts (Sample): []...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["• The Dow jumped more than 500 points on Monday as Middle Eastern conflict fears abated.\n• Brent crude, the international benchmark, fell as much as 4% in intraday trade.\n• Investors are also awaiting the Fed meeting this week, Apple earnings, and the monthly jobs report.\nUS stocks jumped on Monday while oil prices sank as investor anxiety over a broader Middle East conflict eased.\nIsrael's ground assault of the Gaza Strip appeared more gradual than expected, sending Brent crude down as much as 4% in intraday trading.\nThe rally in US indices also comes ahead of an important week, which includes the Federal Reserve's policy meeting, the Treasury Department's quarterly refunding statement on bond auctions, Apple earnings, and the monthly jobs report.\nHere's where US indexes stood at the 4:00 p.m. closing bell on Monday:\n• S&P 500: 4,166.82, up 1.2%\n• Dow Jones Industrial Average: 32,928.96, up 1.58% (511.37 points)\n• Nasdaq Composite: 12,789.48, up 1.16%\nHere's what else happened today:\n• The US economy isfacing a triple threatfrom debt, interest rates, and protectionism, a research firm said.\n• Nearly all the excess money saved during COVID is depleted,this chart shows.\n• Crude pricescould soar 76% from current levelsif the Israel-Hamas war becomes a regional conflict, the World Bank says.\n• Uranium stocks are getting a booston bets of a nuclear-powered future.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 3.6% to $82.42 a barrel.Brent crude, the international benchmark, dropped 2.9% to $87.84 a barrel.\n• Goldrose 0.4% to $2,006 per ounce.\n• The 10-year Treasury gained nearly 4 basis points, moving up to 4.884%.\n• Bitcoinslipped 0.99% to $34,433.\nRead the original article onBusiness Insider", "Israel soldiers inspect burnt cars at the site of the Hamas terrorist attacks on the Nova music festival in southern Israel. Amir Cohen/Reuters The Dow jumped more than 500 points on Monday as Middle Eastern conflict fears abated. Brent crude, the international benchmark, fell as much as 4% in intraday trade. Investors are also awaiting the Fed meeting this week, Apple earnings, and the monthly jobs report. US stocks jumped on Monday while oil prices sank as investor anxiety over a broader Middle East conflict eased. Israel's ground assault of the Gaza Strip appeared more gradual than expected, sending Brent crude down as much as 4% in intraday trading. The rally in US indices also comes ahead of an important week, which includes the Federal Reserve's policy meeting, the Treasury Department's quarterly refunding statement on bond auctions, Apple earnings, and the monthly jobs report. Here's where US indexes stood at the 4:00 p.m. closing bell on Monday: S&P 500 : 4,166.82, up 1.2% Dow Jones Industrial Average : 32,928.96, up 1.58% (511.37 points) Nasdaq Composite : 12,789.48, up 1.16% Here's what else happened today: The US economy is facing a triple threat from debt, interest rates, and protectionism, a research firm said. Nearly all the excess money saved during COVID is depleted, this chart shows. Crude prices could soar 76% from current levels if the Israel-Hamas war becomes a regional conflict, the World Bank says. Uranium stocks are getting a boost on bets of a nuclear-powered future. In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 3.6% to $82.42 a barrel. Brent crude , the international benchmark, dropped 2.9% to $87.84 a barrel. Gold rose 0.4% to $2,006 per ounce. The 10-year Treasury gained nearly 4 basis points, moving up to 4.884%. Bitcoin slipped 0.99% to $34,433. Read the original article on Business Insider", 'Bitcoin. Getty Images Vanguard CEO Tim Buckley told CNBC that the firm will not be pursuing a bitcoin ETF. Rival asset managers such as BlackRock and Fidelity are waiting to get their applications approved. Excitement over a possible spot bitcoin ETF fueled the largest weekly inflow into digital assets since July 2022. Not all of Wall Street is planning on pursuing a spot bitcoin ETF, even as optimism rises on the regulatory pathway to create one. While asset management rivals such as BlackRock and Fidelity have applications pending, Vanguard CEO Tim Buckley told CNBC on Friday that his firm has no plans to follow suit. "We won\'t be pursuing a bitcoin ETF. It\'s just like we don\'t use gold as an asset class for our clients," he said. "It\'s not that people can\'t invest in there. We just look at asset classes or, you know, what belongs in a long-term portfolio, what has intrinsic value, has cash flows to it? And those are the asset classes we steer people towards. And so we don\'t go towards bitcoin or gold or any other of those stable assets." A spokesman later told Insider that Vanguard views the investment case for cryptocurrencies as weak. "Unlike stocks and bonds, most cryptocurrencies lack intrinsic economic value and generate no cash flows, such as interest payments or dividends," he said. "Further, cryptocurrencies have proven to be highly volatile, which runs counter to Vanguard\'s goal to generate positive real returns to investors over time." Currently, BlackRock\'s spot bitcoin ETF application remains under review by the Securities and Exchange Commission. While the regulator allows bitcoin futures ETFs, it has been largely critical of the cryptocurrency sphere, and has previously denied such applications . But in August, Grayscale Investments won its court case against the SEC, which had earlier rejected an application to turn its over-the-counter traded bitcoin trust into an ETF. Story continues The court decision raised hopes that the regulatory obstacles would be cleared, allowing for approval of a spot bitcoin ETF soon. Meanwhile, enthusiasm for a potential spot bitcoin ETF continues to grow on Wall Street. Earlier this month, crypto-bull Mike Novogratz told CNBC that it would make zero sense for an ETF to be blocked. Markets are also demonstrating a readiness, and inflows into digital asset funds have jumped to their highest weekly level since July 2022. According to the latest Coin Shares report, digital asset investment inflows hit $326 million for the week, with bitcoin making up 90%. Read the original article on Business Insider', '(Adds graphic credit) By Suzanne McGee Oct 31 (Reuters) - Bitcoin, the original crypto rebel, is racing into the heart of the financial establishment with an exchange-traded fund that tracks its price. But will it strike gold? The world\'s biggest cryptocurrency has leapt 28% in October, with investors betting U.S. regulators will give the green light for a spot bitcoin ETF and thereby unleash a new wave of demand. How much cash could such a fund reel in, though? Well, it\'s hard to say, judging by the wide assortment of estimates from market players, ranging from $3 billion on its first day to $55 billion over five years. "The analogy that I\'m looking at is to gold," said Dave Mazza, chief strategy officer at ETF provider Roundhill Investments, adding that the gold market had been transformed by the approval of spot ETFs. He said he expected the first spot bitcoin ETFs on the scene to see a "wave of buying," echoing the launch of the first ever gold ETF in 2006 in the U.S. or the bitcoin futures ETF in 2021. Mainstream investment giants such as BlackRock and Fidelity, as well as crypto-focused firms like Grayscale, have filed applications for spot bitcoin ETFs. The U.S. Securities and Exchange Commission will be considering eight to 10 filings for new spot bitcoin products, its chair said on Thursday, without giving details of timing of decisions. Ranged against the ETF optimists are those traditional investors long wary of crypto who say they won\'t be won over by new investment vehicles. "Not a penny of my clients\' money will find its way into these misbegotten so-called investments," said George Gagliardi, an investment advisor with Coromandel Wealth Management in Lexington, Massachusetts, who believes cryptocurrencies "have no underlying intrinsic value." The prospect of an ETF that offers investors direct exposure to bitcoin has nonetheless buoyed the price of the cryptocurrency, which hit $35,198 last week, its highest level since May 2022. Story continues The metrics investors and analysts use to come up with estimates for demand for an ETF, from the size of the gold ETF market to demand for existing products, vary almost as much as their conclusions. Bitcoin markets are also opaque, with price moves driven mostly by investor sentiment. U.S. crypto firm NYDIG estimates demand for a spot bitcoin ETF at around $30 billion. Their calculation compares the sizes of the gold and bitcoin ETFs - $210 billion versus $28.8 billion, respectively - and adjusts them for their relative volatility. "It\'s rare to see a brand-new asset class arrive on the ETF market," said Todd Sohn, ETF strategist at Strategas Securities. "That makes it tough to figure out exactly how much demand is going to materialize." Existing bitcoin ETFs, tied to the price of futures, don\'t track price movements precisely, and the cost of rolling over futures contracts can eat into returns, leading many investors to see them as a less desirable vehicle. Steven McClurg, investment chief at Valkyrie Funds, which has applied for a spot bitcoin ETF, believes one starting point in gauging demand is the size of the Grayscale Bitcoin Trust (GBTC), an open-ended private trust that owns bitcoin directly. "If you look at the current market capitalization of GBTC - $3.2 billion – that\'s probably day-one demand" for a spot bitcoin product, he said. HALF OF FUNDS \'GONE IN TWO YEARS\' Some advocates say that financial advisers, pension funds and other money managers - a pool of capital estimated to total around $46.5 trillion by Boston Consulting Group - could be a significant source of demand for a spot bitcoin ETF. "If BlackRock reaches the market then some percentage of the wire houses and financial advisers will add their fund to platforms," said Matthew Sigel, head of digital assets research at VanEck, which has a spot bitcoin ETF awaiting SEC approval. BlackRock declined to comment on its pending spot bitcoin ETF, other than to confirm that it is still awaiting final SEC approval. Matthew Hougan, CEO of crypto firm Bitwise Investments, said in an industry panel earlier this month that he expects spot bitcoin ETFs to pull in $55 billion in their first five years. His forecast is based on how demand evolved in smaller markets where spot bitcoin ETFs already exist, such as Canada. However large demand turns out to be, it is unlikely to sustain offerings from all the asset managers vying for a slice of the action, said Steve Sosnick, chief strategist at Interactive Brokers. "Are all of them going to be a success? Of course not," he added. "The ones with the best marketing will succeed, but half will be gone within two years." (Reporting by Suzanne McGee; Graphic by Vineet Sachdev; Editing by Ira Iosebashvili, Michelle Price and Pravin Char)', 'By Suzanne McGee (Reuters) - Bitcoin, the original crypto rebel, is racing into the heart of the financial establishment with an exchange-traded fund that tracks its price. But will it strike gold? The world\'s biggest cryptocurrency has leapt 28% in October, with investors betting U.S. regulators will give the green light for a spot bitcoin ETF and thereby unleash a new wave of demand. How much cash could such a fund reel in, though? Well, it\'s hard to say, judging by the wide assortment of estimates from market players, ranging from $3 billion on its first day to $55 billion over five years. "The analogy that I\'m looking at is to gold," said Dave Mazza, chief strategy officer at ETF provider Roundhill Investments, adding that the gold market had been transformed by the approval of spot ETFs. He said he expected the first spot bitcoin ETFs on the scene to see a "wave of buying," echoing the launch of the first ever gold ETF in 2006 in the U.S. or the bitcoin futures ETF in 2021. Mainstream investment giants such as BlackRock and Fidelity, as well as crypto-focused firms like Grayscale, have filed applications for spot bitcoin ETFs. The U.S. Securities and Exchange Commission will be considering eight to 10 filings for new spot bitcoin products, its chair said on Thursday, without giving details of timing of decisions. Ranged against the ETF optimists are those traditional investors long wary of crypto who say they won\'t be won over by new investment vehicles. "Not a penny of my clients\' money will find its way into these misbegotten so-called investments," said George Gagliardi, an investment advisor with Coromandel Wealth Management in Lexington, Massachusetts, who believes cryptocurrencies "have no underlying intrinsic value." The prospect of an ETF that offers investors direct exposure to bitcoin has nonetheless buoyed the price of the cryptocurrency, which hit $35,198 last week, its highest level since May 2022. Story continues The metrics investors and analysts use to come up with estimates for demand for an ETF, from the size of the gold ETF market to demand for existing products, vary almost as much as their conclusions. Bitcoin markets are also opaque, with price moves driven mostly by investor sentiment. U.S. crypto firm NYDIG estimates demand for a spot bitcoin ETF at around $30 billion. Their calculation compares the sizes of the gold and bitcoin ETFs - $210 billion versus $28.8 billion, respectively - and adjusts them for their relative volatility. "It\'s rare to see a brand-new asset class arrive on the ETF market," said Todd Sohn, ETF strategist at Strategas Securities. "That makes it tough to figure out exactly how much demand is going to materialize." Existing bitcoin ETFs, tied to the price of futures, don\'t track price movements precisely, and the cost of rolling over futures contracts can eat into returns, leading many investors to see them as a less desirable vehicle. Steven McClurg, investment chief at Valkyrie Funds, which has applied for a spot bitcoin ETF, believes one starting point in gauging demand is the size of the Grayscale Bitcoin Trust (GBTC), an open-ended private trust that owns bitcoin directly. "If you look at the current market capitalization of GBTC - $3.2 billion – that\'s probably day-one demand" for a spot bitcoin product, he said. HALF OF FUNDS \'GONE IN TWO YEARS\' Some advocates say that financial advisers, pension funds and other money managers - a pool of capital estimated to total around $46.5 trillion by Boston Consulting Group - could be a significant source of demand for a spot bitcoin ETF. "If BlackRock reaches the market then some percentage of the wire houses and financial advisers will add their fund to platforms," said Matthew Sigel, head of digital assets research at VanEck, which has a spot bitcoin ETF awaiting SEC approval. BlackRock declined to comment on its pending spot bitcoin ETF, other than to confirm that it is still awaiting final SEC approval. Matthew Hougan, CEO of crypto firm Bitwise Investments, said in an industry panel earlier this month that he expects spot bitcoin ETFs to pull in $55 billion in their first five years. His forecast is based on how demand evolved in smaller markets where spot bitcoin ETFs already exist, such as Canada. However large demand turns out to be, it is unlikely to sustain offerings from all the asset managers vying for a slice of the action, said Steve Sosnick, chief strategist at Interactive Brokers. "Are all of them going to be a success? Of course not," he added. "The ones with the best marketing will succeed, but half will be gone within two years." (Reporting by Suzanne McGee; Graphic by Vineet Sachdev; Editing by Ira Iosebashvili, Michelle Price and Pravin Char)', 'By Suzanne McGee (Reuters) - Bitcoin, the original crypto rebel, is racing into the heart of the financial establishment with an exchange-traded fund that tracks its price. But will it strike gold? The world\'s biggest cryptocurrency has leapt 28% in October, with investors betting U.S. regulators will give the green light for a spot bitcoin ETF and thereby unleash a new wave of demand. How much cash could such a fund reel in, though? Well, it\'s hard to say, judging by the wide assortment of estimates from market players, ranging from $3 billion on its first day to $55 billion over five years. "The analogy that I\'m looking at is to gold," said Dave Mazza, chief strategy officer at ETF provider Roundhill Investments, adding that the gold market had been transformed by the approval of spot ETFs. He said he expected the first spot bitcoin ETFs on the scene to see a "wave of buying," echoing the launch of the first ever gold ETF in 2006 in the U.S. or the bitcoin futures ETF in 2021. Mainstream investment giants such as BlackRock and Fidelity, as well as crypto-focused firms like Grayscale, have filed applications for spot bitcoin ETFs. The U.S. Securities and Exchange Commission will be considering eight to 10 filings for new spot bitcoin products, its chair said on Thursday, without giving details of timing of decisions. Ranged against the ETF optimists are those traditional investors long wary of crypto who say they won\'t be won over by new investment vehicles. "Not a penny of my clients\' money will find its way into these misbegotten so-called investments," said George Gagliardi, an investment advisor with Coromandel Wealth Management in Lexington, Massachusetts, who believes cryptocurrencies "have no underlying intrinsic value." The prospect of an ETF that offers investors direct exposure to bitcoin has nonetheless buoyed the price of the cryptocurrency, which hit $35,198 last week, its highest level since May 2022. Story continues The metrics investors and analysts use to come up with estimates for demand for an ETF, from the size of the gold ETF market to demand for existing products, vary almost as much as their conclusions. Bitcoin markets are also opaque, with price moves driven mostly by investor sentiment. U.S. crypto firm NYDIG estimates demand for a spot bitcoin ETF at around $30 billion. Their calculation compares the sizes of the gold and bitcoin ETFs - $210 billion versus $28.8 billion, respectively - and adjusts them for their relative volatility. "It\'s rare to see a brand-new asset class arrive on the ETF market," said Todd Sohn, ETF strategist at Strategas Securities. "That makes it tough to figure out exactly how much demand is going to materialize." Existing bitcoin ETFs, tied to the price of futures, don\'t track price movements precisely, and the cost of rolling over futures contracts can eat into returns, leading many investors to see them as a less desirable vehicle. Steven McClurg, investment chief at Valkyrie Funds, which has applied for a spot bitcoin ETF, believes one starting point in gauging demand is the size of the Grayscale Bitcoin Trust (GBTC), an open-ended private trust that owns bitcoin directly. "If you look at the current market capitalization of GBTC - $3.2 billion – that\'s probably day-one demand" for a spot bitcoin product, he said. HALF OF FUNDS \'GONE IN TWO YEARS\' Some advocates say that financial advisers, pension funds and other money managers - a pool of capital estimated to total around $46.5 trillion by Boston Consulting Group - could be a significant source of demand for a spot bitcoin ETF. "If BlackRock reaches the market then some percentage of the wire houses and financial advisers will add their fund to platforms," said Matthew Sigel, head of digital assets research at VanEck, which has a spot bitcoin ETF awaiting SEC approval. BlackRock declined to comment on its pending spot bitcoin ETF, other than to confirm that it is still awaiting final SEC approval. Matthew Hougan, CEO of crypto firm Bitwise Investments, said in an industry panel earlier this month that he expects spot bitcoin ETFs to pull in $55 billion in their first five years. His forecast is based on how demand evolved in smaller markets where spot bitcoin ETFs already exist, such as Canada. However large demand turns out to be, it is unlikely to sustain offerings from all the asset managers vying for a slice of the action, said Steve Sosnick, chief strategist at Interactive Brokers. "Are all of them going to be a success? Of course not," he added. "The ones with the best marketing will succeed, but half will be gone within two years." (Reporting by Suzanne McGee; Graphic by Vineet Sachdev; Editing by Ira Iosebashvili, Michelle Price and Pravin Char)', 'By Suzanne McGee (Reuters) - Bitcoin, the original crypto rebel, is racing into the heart of the financial establishment with an exchange-traded fund that tracks its price. But will it strike gold? The world\'s biggest cryptocurrency has leapt 28% in October, with investors betting U.S. regulators will give the green light for a spot bitcoin ETF and thereby unleash a new wave of demand. How much cash could such a fund reel in, though? Well, it\'s hard to say, judging by the wide assortment of estimates from market players, ranging from $3 billion on its first day to $55 billion over five years. "The analogy that I\'m looking at is to gold," said Dave Mazza, chief strategy officer at ETF provider Roundhill Investments, adding that the gold market had been transformed by the approval of spot ETFs. He said he expected the first spot bitcoin ETFs on the scene to see a "wave of buying," echoing the launch of the first ever gold ETF in 2006 in the U.S. or the bitcoin futures ETF in 2021. Mainstream investment giants such as BlackRock and Fidelity, as well as crypto-focused firms like Grayscale, have filed applications for spot bitcoin ETFs. The U.S. Securities and Exchange Commission will be considering eight to 10 filings for new spot bitcoin products, its chair said on Thursday, without giving details of timing of decisions. Ranged against the ETF optimists are those traditional investors long wary of crypto who say they won\'t be won over by new investment vehicles. "Not a penny of my clients\' money will find its way into these misbegotten so-called investments," said George Gagliardi, an investment advisor with Coromandel Wealth Management in Lexington, Massachusetts, who believes cryptocurrencies "have no underlying intrinsic value." The prospect of an ETF that offers investors direct exposure to bitcoin has nonetheless buoyed the price of the cryptocurrency, which hit $35,198 last week, its highest level since May 2022. Story continues The metrics investors and analysts use to come up with estimates for demand for an ETF, from the size of the gold ETF market to demand for existing products, vary almost as much as their conclusions. Bitcoin markets are also opaque, with price moves driven mostly by investor sentiment. U.S. crypto firm NYDIG estimates demand for a spot bitcoin ETF at around $30 billion. Their calculation compares the sizes of the gold and bitcoin ETFs - $210 billion versus $28.8 billion, respectively - and adjusts them for their relative volatility. "It\'s rare to see a brand-new asset class arrive on the ETF market," said Todd Sohn, ETF strategist at Strategas Securities. "That makes it tough to figure out exactly how much demand is going to materialize." Existing bitcoin ETFs, tied to the price of futures, don\'t track price movements precisely, and the cost of rolling over futures contracts can eat into returns, leading many investors to see them as a less desirable vehicle. Steven McClurg, investment chief at Valkyrie Funds, which has applied for a spot bitcoin ETF, believes one starting point in gauging demand is the size of the Grayscale Bitcoin Trust (GBTC), an open-ended private trust that owns bitcoin directly. "If you look at the current market capitalization of GBTC - $3.2 billion – that\'s probably day-one demand" for a spot bitcoin product, he said. HALF OF FUNDS \'GONE IN TWO YEARS\' Some advocates say that financial advisers, pension funds and other money managers - a pool of capital estimated to total around $46.5 trillion by Boston Consulting Group - could be a significant source of demand for a spot bitcoin ETF. "If BlackRock reaches the market then some percentage of the wire houses and financial advisers will add their fund to platforms," said Matthew Sigel, head of digital assets research at VanEck, which has a spot bitcoin ETF awaiting SEC approval. BlackRock declined to comment on its pending spot bitcoin ETF, other than to confirm that it is still awaiting final SEC approval. Matthew Hougan, CEO of crypto firm Bitwise Investments, said in an industry panel earlier this month that he expects spot bitcoin ETFs to pull in $55 billion in their first five years. His forecast is based on how demand evolved in smaller markets where spot bitcoin ETFs already exist, such as Canada. However large demand turns out to be, it is unlikely to sustain offerings from all the asset managers vying for a slice of the action, said Steve Sosnick, chief strategist at Interactive Brokers. "Are all of them going to be a success? Of course not," he added. "The ones with the best marketing will succeed, but half will be gone within two years." (Reporting by Suzanne McGee; Graphic by Vineet Sachdev; Editing by Ira Iosebashvili, Michelle Price and Pravin Char)', "Renowned billionaire investor Stanley Druckenmiller praised Bitcoin (BTC) for establishing a strong brand presence over the past decade and a half.\nIn aninterviewwith hedge fund manager Paul Tudor Jones, Druckenmiller compared Bitcoin to gold as a store of value, acknowledging its appeal to younger generations. While he doesn't currently own any Bitcoin, the billionaire admitted that he should.\nDruckenmiller said:\n“17 years, to me, it’s a brand. I like gold because it’s a 5,000-year-old brand.”\nDruckenmiller had previously held Bitcoin but sold it in response to tightening measures imposed by central banks. He expressed his belief that the digital asset sector could thrive if people lose faith in the central banking system. Druckenmiller has also lauded blockchain technology and predicted the potential for a ledger-based system to replace the U.S. dollar as the world's reserve currency.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.", "Renowned billionaire investor Stanley Druckenmiller praised Bitcoin (BTC) for establishing a strong brand presence over the past decade and a half.\nIn aninterviewwith hedge fund manager Paul Tudor Jones, Druckenmiller compared Bitcoin to gold as a store of value, acknowledging its appeal to younger generations. While he doesn't currently own any Bitcoin, the billionaire admitted that he should.\nDruckenmiller said:\n“17 years, to me, it’s a brand. I like gold because it’s a 5,000-year-old brand.”\nDruckenmiller had previously held Bitcoin but sold it in response to tightening measures imposed by central banks. He expressed his belief that the digital asset sector could thrive if people lose faith in the central banking system. Druckenmiller has also lauded blockchain technology and predicted the potential for a ledger-based system to replace the U.S. dollar as the world's reserve currency.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.", "Billionaire Investor Stanley Druckenmiller: “I Don’t Own Any Bitcoin To Be Frank, But I Should” Renowned billionaire investor Stanley Druckenmiller praised Bitcoin (BTC) for establishing a strong brand presence over the past decade and a half. In an interview with hedge fund manager Paul Tudor Jones, Druckenmiller compared Bitcoin to gold as a store of value, acknowledging its appeal to younger generations. While he doesn't currently own any Bitcoin, the billionaire admitted that he should. Druckenmiller said: “17 years, to me, it’s a brand. I like gold because it’s a 5,000-year-old brand.” Druckenmiller had previously held Bitcoin but sold it in response to tightening measures imposed by central banks. He expressed his belief that the digital asset sector could thrive if people lose faith in the central banking system. Druckenmiller has also lauded blockchain technology and predicted the potential for a ledger-based system to replace the U.S. dollar as the world's reserve currency. Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form .", 'Omnichaininteroperabilityprotocol,LayerZero, draws criticism following the release of awstETHomnichain token on several chains.Perpetualsdecentralized exchange(DEX),dYdX, goes live as aCosmosappchainand dominantL2,Arbitrum, launches Arbitrum Orbit.\nBig week in the world ofDeFi! Let’s dive deeper into what went down in DeFi this past week.\nTotal value locked(TVL) across all chains climbed steadily as crypto markets surge upwards against a bearish equities market. Notable outperformers includeBitcoinL2,Stacks, which saw a 74% increase in TVL and newly launchedzero-knowledgeEthereum Virtual Machine(zkEVM) chain, Scroll, which saw a similar increase.\nSource: https://coinmarketcap.com/chain-ranking/\nYusuf covers dark pools and privacy focused protocols in DeFi such asTornado Cash,Secret Network,Mina Protocoland more.\nTLDR:\n• Dark pools are common in traditional markets, making up 14% of US trade volume\n• Privacy protocols in DeFi can help to reduceprice impactof large trades, without having to trust an operator\n• These protocols enable private transactions, and avoidfront-runningand wallet tracking\nZee Prime Capital discusses wedges for new protocols: targeting a small and specific market to open the doors to larger markets in the future, rather than targeting large markets from the beginning as many crypto projects attempt to.\nCase in point:Uniswap\'s wedge was "allowing permissionless bootstrapping of liquidity (and trading) for long-tail of tokens." This was something that centralized exchanges could not offer, but founders needed.\nMeanwhile,Blur\'s wedge is to active traders who seek higher liquidity and lower fees, while leveraging a crypto token for incentives.\nEthereumscaling solution,Polygon, unveils the POL token deployment on Ethereummainnet. POL will be replacing Polygon’s existing token, MATIC, to power the Polygon ecosystem. Token migration from MATIC to POL has not been announced yet but will likely occur in the near future.\nPopular Ethereum DEX,Sushi Swap, releases SushiXSwap V2, theircross-chainDEX product. SushiXSwap V2 uses universalUSDC, provides enhanced security to users and does not requiregastoken on the destination chain.\nTelegram bot, Maestro, has beenexploitedfor 280 ETH via the Maestro Router. The bug has since been identified and fixed. The team has also promised to fully refund all affected users of this exploit.\nAnother popular telegram trading bot, Unibot, has been exploited as well. The cause of the exploit is due to a token approval vulnerability from Unibot\'s new router. The exploit reportedly siphoned off $560K, and caused theUNIBOTtoken to crash 40%.\nOther Product Launches\n• Dollar-cost averaging protocol,Stackly, launches on Ethereum mainnet, enabling users to easily automate token purchases on both Ethereum andGnosis Chain. Stackly is built onmaximal extractable value(MEV) DEX,CoWSwap.\n• ETH restaking platform,Astrid, goes live, enabling users to staking theirliquid staking tokens(LSTs) to receive liquid restaked tokens (LRTs). The currently supported deposit tokens arestETH,rETHandcbETH. Unfortunately, the protocol has since been exploited, but afull refund was processed by the teamover the weekend to the affected users.\n• Stablecoinprotocol,QiDAO, launches a revamped token, which is now an omnichain fungible token (OFT), powered by LayerZero technology. Their revampedtokenomicsalso reducesemissionsand increases synergies with theBalancerecosystem.\n• ETHliquid stakingplatform,Swell Network, releases Super swETH, aswETHvault which enables users to earn boosted Pearl rewards and revenue from the Swell Networkdecentralized autonomous organization(DAO).\n• Multichainperpetuals DEX,Contango, launches cPerps on both Ethereum and Polygon. Contango is powered byAave’s liquidity across their supported chains, allowing users to identify the best rates for their trading needs.\n• Popular portfolio tracker service,DeBank, releases Monitor Bots, customizable bots for users to track anywallet addressand set alerts based on specific criteria set by users.\n• Ethereum liquid staking infrastructure,SSV Network, launches a 12 month incentivized mainnet programto encourage the decentralization of Ethereum through the use of distributedvalidatortechnology (DVT).\nLayerZero launches Lido’s wstETH as an omnichain fungible token (OFT), enabling its use acrossBinance Smart Chain,Avalancheand Scroll. The move has drawn some flak as it is perceived as circumventing Lido’s officialgovernanceprocess in the deployment of their token across chains.\nArbitrum unveils Arbitrum Orbit, enabling thepermissionlessdeployment of customized chains using the Arbitrum Orbit technology. Arbitrum Orbit also allows forsmart contractsto be written inRust, C, or C++, while maintaining compatibility with Ethereum.\nOther Product Launches\n• No-code rollup deployer,Conduit, partners with Uniswap to release Uniswap V4 Sandbox, anOPStack rollup which enables customautomated market maker(AMM) deployment by tapping into Uniswap’s existingliquidity pools.\n• Astar Networklaunches their zkEVM chain,zKatana, on testnet. The chain is powered by Polygon’s chain development kit (CDK) and has partnered with various protocols such as LayerZero,PythandGelatoin preparation for their impending mainnet launch.\n• Liquidity gateway,Nimbora, partners up with stablecoin protocol, Liquity, to bring zero interest borrowing ofLUSDtozero-knowledge rollup,StarkNet. Do note that this product is not a Liquity product.\n• Creator-focused network,Frame, announces their intention to launch as an L2on the Arbitrum Nitro stack, to take advantage of low transaction fees, highthroughputand security on Arbitrum Nitro.\n• ETH staking solution,EtherFi, releases native staking on Polygon zkEVM, giving users the ability to stake ETH on mainnet via Polygon zkEVM. Moreover, the tokens are restaked onEigenLayer, granting the potential for additional rewards in the future.\n• StarkNet-powered DEX,RabbitX, drops BookTrader, allowing traders to trade directly from theorderbookfor the fastest trade placement experience.\n• Perpetuals DEX,UniDEX, unveils 12 custom indices for trading, enabling traders to gain exposure to specific sectors in crypto in a single trade.\nPerpetuals DEX, dYdX, finally goes live with dYdX Chain, a Cosmos-based appchain, after four successfultestnets. Launching as an appchain allowed the team full customization over the protocol and increased decentralization of the protocol.\nBlue-chip assetbridge,Altitude DeFi, announces a surpriseairdropof one million ALTD tokens toStargatetoken holders. With both protocols powered by LayerZero, the airdrop could indicate possible collaborative efforts in the future.\nFejau welcomes thebull marketback with open arms, noting the strength in the BTC bid.\nStay updated on your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects,degens!', 'Week in DeFi: Are Telegram Trading Bots in Trouble? Omnichain interoperability protocol, LayerZero , draws criticism following the release of a wstETH omnichain token on several chains. Perpetuals decentralized exchange (DEX), dYdX , goes live as a Cosmos appchain and dominant L2 , Arbitrum , launches Arbitrum Orbit. Big week in the world of DeFi ! Let’s dive deeper into what went down in DeFi this past week. Overview Total value locked (TVL) across all chains climbed steadily as crypto markets surge upwards against a bearish equities market. Notable outperformers include Bitcoin L2, Stacks , which saw a 74% increase in TVL and newly launched zero-knowledge Ethereum Virtual Machine (zkEVM) chain, Scroll, which saw a similar increase. Source: https://coinmarketcap.com/chain-ranking/ Welcome to Alpha Central Yusuf covers dark pools and privacy focused protocols in DeFi such as Tornado Cash , Secret Network , Mina Protocol and more. TLDR: Dark pools are common in traditional markets, making up 14% of US trade volume Privacy protocols in DeFi can help to reduce price impact of large trades, without having to trust an operator These protocols enable private transactions, and avoid front-running and wallet tracking Zee Prime Capital discusses wedges for new protocols: targeting a small and specific market to open the doors to larger markets in the future, rather than targeting large markets from the beginning as many crypto projects attempt to. Case in point: Uniswap \'s wedge was "allowing permissionless bootstrapping of liquidity (and trading) for long-tail of tokens." This was something that centralized exchanges could not offer, but founders needed. Meanwhile, Blur \'s wedge is to active traders who seek higher liquidity and lower fees, while leveraging a crypto token for incentives. Ethereum: Polygon POL Upgrade Live Ethereum scaling solution, Polygon , unveils the POL token deployment on Ethereum mainnet . POL will be replacing Polygon’s existing token, MATIC, to power the Polygon ecosystem. Token migration from MATIC to POL has not been announced yet but will likely occur in the near future. Story continues Popular Ethereum DEX, Sushi Swap , releases SushiXSwap V2, their cross-chain DEX product. SushiXSwap V2 uses universal USDC , provides enhanced security to users and does not require gas token on the destination chain. Telegram bot , Maestro, has been exploited for 280 ETH via the Maestro Router. The bug has since been identified and fixed. The team has also promised to fully refund all affected users of this exploit. Another popular telegram trading bot, Unibot, has been exploited as well. The cause of the exploit is due to a token approval vulnerability from Unibot\'s new router. The exploit reportedly siphoned off $560K, and caused the UNIBOT token to crash 40%. Other Product Launches Dollar-cost averaging protocol, Stackly, launches on Ethereum mainnet , enabling users to easily automate token purchases on both Ethereum and Gnosis Chain . Stackly is built on maximal extractable value (MEV) DEX, CoWSwap . ETH restaking platform, Astrid, goes live , enabling users to staking their liquid staking tokens (LSTs) to receive liquid restaked tokens (LRTs). The currently supported deposit tokens are stETH , rETH and cbETH . Unfortunately, the protocol has since been exploited, but a full refund was processed by the team over the weekend to the affected users. Stablecoin protocol, QiDAO, launches a revamped token , which is now an omnichain fungible token (OFT), powered by LayerZero technology. Their revamped tokenomics also reduces emissions and increases synergies with the Balancer ecosystem. ETH liquid staking platform, Swell Network, releases Super swETH , a swETH vault which enables users to earn boosted Pearl rewards and revenue from the Swell Network decentralized autonomous organization (DAO). Multichain perpetuals DEX, Contango, launches cPerps on both Ethereum and Polygon . Contango is powered by Aave ’s liquidity across their supported chains, allowing users to identify the best rates for their trading needs. Popular portfolio tracker service, DeBank, releases Monitor Bots , customizable bots for users to track any wallet address and set alerts based on specific criteria set by users. Ethereum liquid staking infrastructure, SSV Network, launches a 12 month incentivized mainnet program to encourage the decentralization of Ethereum through the use of distributed validator technology (DVT). L2s: LayerZero Bypasses Lido’s Governance LayerZero launches Lido’s wstETH as an omnichain fungible token (OFT), enabling its use across Binance Smart Chain , Avalanche and Scroll. The move has drawn some flak as it is perceived as circumventing Lido’s official governance process in the deployment of their token across chains. Arbitrum unveils Arbitrum Orbit, enabling the permissionless deployment of customized chains using the Arbitrum Orbit technology. Arbitrum Orbit also allows for smart contracts to be written in Rust , C, or C++, while maintaining compatibility with Ethereum. Other Product Launches No-code rollup deployer, Conduit, partners with Uniswap to release Uniswap V4 Sandbox , an OP Stack rollup which enables custom automated market maker (AMM) deployment by tapping into Uniswap’s existing liquidity pools . Astar Network launches their zkEVM chain, zKatana, on testnet . The chain is powered by Polygon’s chain development kit (CDK) and has partnered with various protocols such as LayerZero, Pyth and Gelato in preparation for their impending mainnet launch. Liquidity gateway, Nimbora, partners up with stablecoin protocol, Liquity , to bring zero interest borrowing of LUSD to zero-knowledge rollup , StarkNet . Do note that this product is not a Liquity product. Creator-focused network, Frame, announces their intention to launch as an L2 on the Arbitrum Nitro stack, to take advantage of low transaction fees, high throughput and security on Arbitrum Nitro. ETH staking solution, EtherFi, releases native staking on Polygon zkEVM , giving users the ability to stake ETH on mainnet via Polygon zkEVM. Moreover, the tokens are restaked on EigenLayer , granting the potential for additional rewards in the future. StarkNet-powered DEX, RabbitX, drops BookTrader , allowing traders to trade directly from the orderbook for the fastest trade placement experience. Perpetuals DEX, UniDEX, unveils 12 custom indices for trading , enabling traders to gain exposure to specific sectors in crypto in a single trade. Cosmos: DYdX Appchain, Now in Operation Perpetuals DEX, dYdX, finally goes live with dYdX Chain, a Cosmos-based appchain, after four successful testnets . Launching as an appchain allowed the team full customization over the protocol and increased decentralization of the protocol. Another Week, Another Airdrop Blue-chip asset bridge , Altitude DeFi , announces a surprise airdrop of one million ALTD tokens to Stargate token holders. With both protocols powered by LayerZero, the airdrop could indicate possible collaborative efforts in the future. Tweet of the Week Fejau welcomes the bull market back with open arms, noting the strength in the BTC bid. Stay updated on your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects, degens!', 'VICTORIA, Seychelles, October 31, 2023 --( BUSINESS WIRE )--KuCoin is pleased to present the latest survey report " Into The Cryptoverse: Understanding Crypto Users in the UAE ", the 17th edition of the report series, offering essential insights into the UAE crypto market. This comprehensive report is based on feedback from 597 crypto investors in the UAE, highlighting their pressing need for trust, security, crypto education, and their profound interest in crypto innovation. Moreover, the survey reaffirms the UAE\'s growing recognition as a cryptocurrency hub. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231031988143/en/ KuCoin is pleased to present the latest survey report "Into The Cryptoverse: Understanding Crypto Users in the UAE ", the 17th edition of the report series, offering essential insights into the UAE crypto market. This comprehensive report is based on feedback from crypto investors in the UAE, highlighting their pressing need for trust, security, crypto education, and their profound interest in crypto innovation. Moreover, the survey reaffirms the UAE\'s growing recognition as a cryptocurrency hub. (Graphic: Business Wire) Alicia Kao, Managing Director of KuCoin, highlighted the significance of the report, stating, " Our survey has unveiled the pressing needs and aspirations of the UAE\'s crypto community. Trust, security, and education are at the core of their concerns. This report not only illuminates their preferences but also solidifies the UAE\'s position as a leader in the crypto revolution, with a dominant 72% preference for Bitcoin and a strong appetite for blockchain and AI integration. The UAE\'s advantages, including access to funding, a robust financial infrastructure, and a global network, set the stage for the country\'s crypto industry to flourish ." The key findings of the survey report include: Story continues Fostering Trust and Crypto Education: The report reveals that 48% of UAE crypto users express concerns about the lack of trust in crypto platforms, and 32% of respondents cite a lack of crypto education and awareness as the region\'s top challenge. Prioritizing Security and Customer Support: When choosing a crypto exchange, the report shows that 63% of UAE crypto users prioritize security, while 47% prioritize customer support, highlighting the paramount importance of trust in crypto platform selection. Bitcoin Dominance: With a remarkable 72% preference for Bitcoin among UAE crypto investors, the UAE solidifies its position as a regional leader in crypto adoption. Diverse Crypto Use Cases: The survey showcases a strong appetite among UAE crypto users for real-world applications beyond investment, with 40% expressing a preference for crypto in cross-border remittances and daily transactions, signifying crypto\'s potential to revolutionize financial interactions in the region. AI and Blockchain Integration: The findings reveal that 62% of UAE crypto users are eager for the integration of AI and blockchain technologies, showcasing the UAE\'s forward-looking approach to crypto innovation. UAE\'s Advantages: The report highlights user perceptions regarding the UAE\'s advantages for crypto industry development, with 53% citing access to funding as the top advantage, closely followed by a robust financial infrastructure and global network, positioning the UAE as an attractive destination for crypto entrepreneurs and businesses seeking growth. Read the full report on KuCoin blog . About KuCoin Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 30 million users in more than 200 countries and regions. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder\'s 2023 Global Cryptocurrency Trading Platform Awards. View source version on businesswire.com: https://www.businesswire.com/news/home/20231031988143/en/ Contacts For media inquiry, please contact: [email protected]', 'VICTORIA, Seychelles, October 31, 2023 --( BUSINESS WIRE )--KuCoin is pleased to present the latest survey report " Into The Cryptoverse: Understanding Crypto Users in the UAE ", the 17th edition of the report series, offering essential insights into the UAE crypto market. This comprehensive report is based on feedback from 597 crypto investors in the UAE, highlighting their pressing need for trust, security, crypto education, and their profound interest in crypto innovation. Moreover, the survey reaffirms the UAE\'s growing recognition as a cryptocurrency hub. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231031988143/en/ KuCoin is pleased to present the latest survey report "Into The Cryptoverse: Understanding Crypto Users in the UAE ", the 17th edition of the report series, offering essential insights into the UAE crypto market. This comprehensive report is based on feedback from crypto investors in the UAE, highlighting their pressing need for trust, security, crypto education, and their profound interest in crypto innovation. Moreover, the survey reaffirms the UAE\'s growing recognition as a cryptocurrency hub. (Graphic: Business Wire) Alicia Kao, Managing Director of KuCoin, highlighted the significance of the report, stating, " Our survey has unveiled the pressing needs and aspirations of the UAE\'s crypto community. Trust, security, and education are at the core of their concerns. This report not only illuminates their preferences but also solidifies the UAE\'s position as a leader in the crypto revolution, with a dominant 72% preference for Bitcoin and a strong appetite for blockchain and AI integration. The UAE\'s advantages, including access to funding, a robust financial infrastructure, and a global network, set the stage for the country\'s crypto industry to flourish ." The key findings of the survey report include: Story continues Fostering Trust and Crypto Education: The report reveals that 48% of UAE crypto users express concerns about the lack of trust in crypto platforms, and 32% of respondents cite a lack of crypto education and awareness as the region\'s top challenge. Prioritizing Security and Customer Support: When choosing a crypto exchange, the report shows that 63% of UAE crypto users prioritize security, while 47% prioritize customer support, highlighting the paramount importance of trust in crypto platform selection. Bitcoin Dominance: With a remarkable 72% preference for Bitcoin among UAE crypto investors, the UAE solidifies its position as a regional leader in crypto adoption. Diverse Crypto Use Cases: The survey showcases a strong appetite among UAE crypto users for real-world applications beyond investment, with 40% expressing a preference for crypto in cross-bord
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-10-31
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $674,230,741,094
- Hash Rate: 481286782.8761844
- Transaction Count: 433751.0
- Unique Addresses: 782062.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.66
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: On Sep 21, the cryptocurrency market suffered a setback courtesy of the Fed. In its September FOMC meeting, the Fed kept the benchmark lending rate unchanged at the existing 5.25-5.5%, as stated on Sep 20. However, the post-FOMC statement of Fed Chairman Jerome Powell dampened market participants’ sentiments.
Although the Fed paused its rate hike in the September FOMC meeting, the current dot-plot has shown a strong likelihood of one more hike of 25 basis points in 2023. That will take the terminal interest rate of this hiking cycle to 5.6%, well above the 5.1% forecast in June. Notably, the current range of the Fed fund rate is the highest level since March 2001.
More importantly, the central bank said it would keep interest rates higher for a longer time period. The new projection has shown two maximum rate cuts in 2024 instead of four projected in June. The first cut in interest rate is not expected before September 2024.
As a result, the yield on the short-term 2-Year U.S. Treasury Note reached 5.202%, its highest level since 2006. This link is closely linked to the possibility of a near-term economic downturn. The yield on the benchmark 10-Year U.S. Treasury Note touched 4.494%, its highest level since 2007.
A higher market interest rate is detrimental to high-growth sectors like technology, consumer discretionary and cryptocurrency. Notably, the crypto space suffered a huge blow last year as the Fed pursued a rigorous interest rate hike regime.
Consequently, on Sep 21, prices of major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE) and BNB (BNB) slid 1.7%, 1.9%, 1.9%, 2.3% and 1.6%, respectively.
Robinhood Markets Inc.HOOD operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets has an expected earnings growth rate of 57.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 18% over the last 60 days. HOOD currently carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coinbase Global Inc.COIN provides financial infrastructure and technology for the crypto economy in the United States and internationally. COIN offers the primary financial account in the crypto space for consumers, a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
Coinbase Global has an expected earnings growth rate of 84.8% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 30% over the last 60 days. COIN currently carries a Zacks Rank #3 (Hold).
Block Inc.SQ is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors.
Block has an expected earnings growth rate of 69% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 30 days. SQ currently has a Zacks Rank #3.
Visa Inc.V is taking a significant step toward modernizing cross-border money movement. In a move aimed at enhancing the efficiency of global transactions, V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain. This expansion of V includes collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments.
Visa has an expected earnings growth rate of 15.3% for the current year (ending September 2024). The Zacks Consensus Estimate for current-year earnings has improved 0.8% over the last 60 days. V currently carries a Zacks Rank #3.
PayPal Holdings Inc.PYPL operates digital wallets and allows users to buy, transfer and sell cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin. PYPL’s users can check out and pay using crypto to online merchants. Its mobile wallet Venmo also allows users to buy and sell cryptocurrency. PYPL has become the first major U.S. fintech company to offer its own crypto token with a dollar-pegged stablecoin known as PayPal USD.
PayPal Holdings has an expected earnings growth rate of 19.9% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.1% over the last 90 days. PYPL currently carries a Zacks Rank #3.
The chart below shows the price performance of five above-mentioned stocks in the past three months.
Image Source: Zacks Investment Research
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Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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You are an expert financial analyst. Your primary task is to predict the next 10 days of Bitcoin prices. Analyze the provided news and historical price data to make your forecast.
**Today's Key News:**
["• US stocks edged higher on Tuesday as investors prepare for the Federal Reserve's next interest rate decision.\n• Fed Chairman Jerome Powell is expected to make no changes during Wednesday's FOMC meeting.\n• Stocks ended October lower, representing the first three-month losing streak since early 2020.\nUS stocks edged higher on Tuesday but ended the month of October lower, representing the third consecutive monthly loss.\nThe last time the S&P 500 and Dow Jones Industrial Average suffered a three-month slump was in March 2020, during the onset of the COVID-19 pandemic.\nInvestors were also awaiting the Federal Reserve's rate decision Wednesday afternoon and Chairman Jerome Powell's press conference.\nThe market expects the Fed to keep rates unchanged and sees no more hikes this cycle with at least two rate cuts by the end of next year.\nInvestors continue to digest a wave of third-quarter earnings. More than half of the S&P 500 has reported, and about 78% of those companies beat profit estimates by a median of 6%, while 62% beat revenue estimates by a median of 2%, according to data from Fundstrat.\nHere's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:\n• S&P 500:4,193.80, up 0.65%\n• Dow Jones Industrial Average:33,052.87, up 0.38% (123.91 points)\n• Nasdaq Composite:12,851.24, up 0.48%\nHere's what else is going on today:\n• Stanley Druckenmiller said Treasury Secretary Janet Yellen made the worst mistakein the US Treasury's history by not issuing long-term debt when interest rates were so low.\n• Housing affordability has plunged to the lowest level since 1985as prospective homebuyers grapple with high mortgage rates and low housing inventory.\n• Bitcoin is set to rocket to $150,000by the middle of 2025 as the world's largest cryptocurrency begins a new cycle, Bernstein said.\nIn commodities, bonds, and crypto:\n• West Texas Intermediatecrude oil fell 1.32% to $81.22 a barrel.Brent crude, the international benchmark, dropped 1.23% to $85.29 a barrel.\n• Golddeclined 0.58% to $1,994.00 per ounce.\n• The 10-year Treasury yield was flat at 4.89%.\n• Bitcoinrose 0.01% to $34,496.\nRead the original article onBusiness Insider", "Lucas Jackson/Reuters US stocks edged higher on Tuesday as investors prepare for the Federal Reserve's next interest rate decision. Fed Chairman Jerome Powell is expected to make no changes during Wednesday's FOMC meeting. Stocks ended October lower, representing the first three-month losing streak since early 2020. US stocks edged higher on Tuesday but ended the month of October lower, representing the third consecutive monthly loss. The last time the S&P 500 and Dow Jones Industrial Average suffered a three-month slump was in March 2020, during the onset of the COVID-19 pandemic. Investors were also awaiting the Federal Reserve's rate decision Wednesday afternoon and Chairman Jerome Powell's press conference. The market expects the Fed to keep rates unchanged and sees no more hikes this cycle with at least two rate cuts by the end of next year. Investors continue to digest a wave of third-quarter earnings. More than half of the S&P 500 has reported, and about 78% of those companies beat profit estimates by a median of 6%, while 62% beat revenue estimates by a median of 2%, according to data from Fundstrat. Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday: S&P 500 : 4,193.80, up 0.65% Dow Jones Industrial Average : 33,052.87, up 0.38% (123.91 points) Nasdaq Composite : 12,851.24, up 0.48% Here's what else is going on today: Stanley Druckenmiller said Treasury Secretary Janet Yellen made the worst mistake in the US Treasury's history by not issuing long-term debt when interest rates were so low. Housing affordability has plunged to the lowest level since 1985 as prospective homebuyers grapple with high mortgage rates and low housing inventory. Bitcoin is set to rocket to $150,000 by the middle of 2025 as the world's largest cryptocurrency begins a new cycle, Bernstein said. In commodities, bonds, and crypto: West Texas Intermediate crude oil fell 1.32% to $81.22 a barrel. Brent crude , the international benchmark, dropped 1.23% to $85.29 a barrel. Gold declined 0.58% to $1,994.00 per ounce. The 10-year Treasury yield was flat at 4.89%. Bitcoin rose 0.01% to $34,496. Read the original article on Business Insider", "The US Securities and Exchange Commission (SEC) Chair, Gary Gensler, commemorated the Bitcoin whitepaper's 15th anniversary by asking if the cryptocurrency's elusive creator, Satoshi Nakamoto, would be identifiable in a Halloween costume.\nOn October 31, 2008, Satoshi Nakamoto released the Bitcoin whitepaper, titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’.\nIn a Twitter post, Gensler reminded crypto companies to adhere to securities laws, saying: “Any crypto companies that are tricking investors should start treating them to compliance with the securities laws.”\nUnder Gensler's leadership, the SEC has taken a strong stance against the digital asset industry, suing major crypto players such as Binance, Coinbase and Kraken.\nThe main source of concern for Gensler is the purported sale of unregistered securities by crypto firms. Critics, including industry leaders and lawmakers, have accused Gensler of creating regulatory ambiguity and hindering innovation. This comes as theSEC is reviewing numerous spot Bitcoin ETFs, as the crypto industry is closely monitoring this event.\nLet us know what you loved about this article, what could be improved, or share any other feedback byfilling out this short form.", "Gary Gensler Asks Crypto Firms To Stop “Tricking” Investors on Halloween The US Securities and Exchange Commission (SEC) Chair, Gary Gensler, commemorated the Bitcoin whitepaper's 15th anniversary by asking if the cryptocurrency's elusive creator, Satoshi Nakamoto, would be identifiable in a Halloween costume. On October 31, 2008, Satoshi Nakamoto released the Bitcoin whitepaper, titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’. In a Twitter post, Gensler reminded crypto companies to adhere to securities laws, saying: “Any crypto companies that are tricking investors should start treating them to compliance with the securities laws.” Under Gensler's leadership, the SEC has taken a strong stance against the digital asset industry, suing major crypto players such as Binance, Coinbase and Kraken. The main source of concern for Gensler is the purported sale of unregistered securities by crypto firms. Critics, including industry leaders and lawmakers, have accused Gensler of creating regulatory ambiguity and hindering innovation. This comes as the SEC is reviewing numerous spot Bitcoin ETFs , as the crypto industry is closely monitoring this event. Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form .", "After a downbeat September, October, too, remained depressed for Wall Street. The S&P 500 recorded its first three-month losing streak last month since March 2020. High oil and gas prices, still-high inflation, and the Fed’s policy tightening spree, along with the resultant rise in bond yields, kept the market subdued. The S&P 500 fell 2.2% in October.\nThe U.S. benchmark treasury yield started the month at 4.69%, reached a high of 4.98% on Oct 19 and stood at 4.88% on Oct 31. Apart from higher rates, there was heightened geopolitical crisis due to the occurrence of war between Israel and the Gaza-based militant group Hamas. This has sent oil prices higher.\nAgainst this backdrop, let’s take a look at the key happenings in the ETF world in October.\nIsrael declared war against Gaza after Gaza militants' surprise attack on Israel in early October. The move impacted a few asset classes as safe-havens like gold gained. Gold bullion ETFSPDR Gold TrustGLD jumped about 9% in the past month (as of Oct 30, 2023) despite higher U.S. interest rates.Shares of defense companies surged amid the conflict between Israel and Gaza.iShares U.S. Aerospace & Defense ETFITA added 2.8% in the past month (as of Oct 30, 2023) (read: Defense ETFs Spike on Middle East Tensions).\nThe United States witnessed substantial economic growth in the third quarter of 2023, with the real gross domestic product (GDP) rising at an annual rate of 4.9%, beating economists’ expectations of 4.7%. Consumer spending was one of the main contributors to U.S. GDP growth. The GDP increase marked the\xa0largest gain since the fourth quarter of 2021.\nConsumer spending, as measured by personal consumption expenditures, improved 4% in the quarter after rising just 0.8% in Q2, and was responsible for 2.7 percentage points of the total GDP increase.Consumer Discretionary Select Sector SPDR ETFXLY, Zacks ETF Rank #1 (Strong Buy), should thus be closely watched (read: Consumer Spending Boosts U.S. Q3 GDP: ETFs to Buy).\nThanks to the upbeat economic data points like jobs report, retail sales data, manufacturing data and third-quarter GDP data, U.S. treasury bond yields surged in October. Since inflation remains sticky, such upbeat economic data will help the Fed to keep rates higher for longer.iShares 20+ Year Treasury Bond ETFTLT lost about 4.5% in the past month due to higher yields.\nThe earnings season is underway. For Q3 of 2023 as a whole, the S&P 500 earnings growth expectation is currently 1.2% from the same period last year on 1.2% higher revenues. This would follow the 7.1% decline on 1.1% higher revenues in Q2, per the Earnings Trends. Please note that earnings growth has turned positive for the first time after staying in negative territory for three back-to-back quarters.\nIn a significant development in the ongoing American automotive industry labor dispute,General MotorsGM has reportedly reached a tentative agreement with United Auto Workers (“UAW”). This marks a significant step toward ending a contentious labor issue that has plagued the industry for over six weeks.\nWhile specific details of the agreement have not been disclosed, it is believed to closely mirror the agreements reached by GM's competitors,FordF and Stellantis.First Trust NASDAQ Transportation ETFFTXR may be watched closely, going forward, due to end of the labor strike in the auto sector (read: Auto ETF in Focus as Ford & UAW Reach Tentative Labor Deal).\nBitcoin, the world's largest cryptocurrency, rose about 27% in October and even touched nearly $30,000 mid-month, triggered by false information regarding the approval of a spot ETF by BlackRock Inc. A false rumor circulated by Cointelegraph on the social media platform X (formerly Twitter) resulted in nearly $100 million in liquidations in just one hour.\nHowever, the spike was temporary as BlackRock clarified that its ETF application is still under review. Though the report was false, it underscores investors’ hope of SEC approval for a spot bitcoin ETF. According to Bloomberg analysts, there is a 90% chance that a spot bitcoin ETF will get approval by January. No wonder,First Trust SkyBridge Crypto Ind and Digi Econ ETFCRPT added 7.5% past month (read:\xa0Cryptocurrency Ether ETFs: Will October be a Pivotal Month?).\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\niShares 20+ Year Treasury Bond ETF (TLT): ETF Research Reports\nGeneral Motors Company (GM) : Free Stock Analysis Report\nSPDR Gold Shares (GLD): ETF Research Reports\nConsumer Discretionary Select Sector SPDR ETF (XLY): ETF Research Reports\niShares U.S. Aerospace & Defense ETF (ITA): ETF Research Reports\nFirst Trust NASDAQ Transportation ETF (FTXR): ETF Research Reports\nFirst Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research Reports\nTo read this article on Zacks.com click here.\nZacks Investment Research", "After a downbeat September, October, too, remained depressed for Wall Street. The S&P 500 recorded its first three-month losing streak last month since March 2020. High oil and gas prices, still-high inflation, and the Fed’s policy tightening spree, along with the resultant rise in bond yields, kept the market subdued. The S&P 500 fell 2.2% in October. The U.S. benchmark treasury yield started the month at 4.69%, reached a high of 4.98% on Oct 19 and stood at 4.88% on Oct 31. Apart from higher rates, there was heightened geopolitical crisis due to the occurrence of war between Israel and the Gaza-based militant group Hamas. This has sent oil prices higher. Against this backdrop, let’s take a look at the key happenings in the ETF world in October. Israel-Gaza War Israel declared war against Gaza after Gaza militants' surprise attack on Israel in early October. The move impacted a few asset classes as safe-havens like gold gained. Gold bullion ETF SPDR Gold Trust GLD jumped about 9% in the past month (as of Oct 30, 2023) despite higher U.S. interest rates.Shares of defense companies surged amid the conflict between Israel and Gaza. iShares U.S. Aerospace & Defense ETF ITA added 2.8% in the past month (as of Oct 30, 2023) (read: Defense ETFs Spike on Middle East Tensions). Release of Upbeat U.S. GDP Data The United States witnessed substantial economic growth in the third quarter of 2023, with the real gross domestic product (GDP) rising at an annual rate of 4.9%, beating economists’ expectations of 4.7%. Consumer spending was one of the main contributors to U.S. GDP growth. The GDP increase marked the\xa0largest gain since the fourth quarter of 2021. Consumer spending, as measured by personal consumption expenditures, improved 4% in the quarter after rising just 0.8% in Q2, and was responsible for 2.7 percentage points of the total GDP increase. Consumer Discretionary Select Sector SPDR ETF XLY, Zacks ETF Rank #1 (Strong Buy), should thus be closely watched (read: Consumer Spending Boosts U.S. Q3 GDP: ETFs to Buy). Story continues Surge in Treasury Bond Yields Thanks to the upbeat economic data points like jobs report, retail sales data, manufacturing data and third-quarter GDP data, U.S. treasury bond yields surged in October. Since inflation remains sticky, such upbeat economic data will help the Fed to keep rates higher for longer. iShares 20+ Year Treasury Bond ETF TLT lost about 4.5% in the past month due to higher yields. Earnings Season Underway: Results Optimistic The earnings season is underway. For Q3 of 2023 as a whole, the S&P 500 earnings growth expectation is currently 1.2% from the same period last year on 1.2% higher revenues. This would follow the 7.1% decline on 1.1% higher revenues in Q2, per the Earnings Trends. Please note that earnings growth has turned positive for the first time after staying in negative territory for three back-to-back quarters. End of UAW Auto Strike In a significant development in the ongoing American automotive industry labor dispute, General Motors GM has reportedly reached a tentative agreement with United Auto Workers (“UAW”). This marks a significant step toward ending a contentious labor issue that has plagued the industry for over six weeks. While specific details of the agreement have not been disclosed, it is believed to closely mirror the agreements reached by GM's competitors, Ford F and Stellantis. First Trust NASDAQ Transportation ETF FTXR may be watched closely, going forward, due to end of the labor strike in the auto sector (read: Auto ETF in Focus as Ford & UAW Reach Tentative Labor Deal). Cryptocurrency Rule Bitcoin, the world's largest cryptocurrency, rose about 27% in October and even touched nearly $30,000 mid-month, triggered by false information regarding the approval of a spot ETF by BlackRock Inc. A false rumor circulated by Cointelegraph on the social media platform X (formerly Twitter) resulted in nearly $100 million in liquidations in just one hour. However, the spike was temporary as BlackRock clarified that its ETF application is still under review. Though the report was false, it underscores investors’ hope of SEC approval for a spot bitcoin ETF. According to Bloomberg analysts, there is a 90% chance that a spot bitcoin ETF will get approval by January. No wonder, First Trust SkyBridge Crypto Ind and Digi Econ ETF CRPT added 7.5% past month (read:\xa0Cryptocurrency Ether ETFs: Will October be a Pivotal Month?). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report iShares 20+ Year Treasury Bond ETF (TLT): ETF Research Reports General Motors Company (GM) : Free Stock Analysis Report SPDR Gold Shares (GLD): ETF Research Reports Consumer Discretionary Select Sector SPDR ETF (XLY): ETF Research Reports iShares U.S. Aerospace & Defense ETF (ITA): ETF Research Reports First Trust NASDAQ Transportation ETF (FTXR): ETF Research Reports First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research", "NEW YORK, Nov. 01, 2023 (GLOBE NEWSWIRE) --Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, or the “Company”)will host a conference call on Tuesday, November 14 at 11:00 a.m. Eastern Time to discuss its operations and financial results from the third quarter ended September 30, 2023. A press release detailing these results will be issued before the market opens on the same day.\nStronghold management will provide prepared remarks, followed by a question-and-answer period.\nA live webcast of the call will be available on the Investor Relations page of the Company’s website atir.strongholddigitalmining.com. To access the call by phone, please use the following linkStronghold Digital Mining Third Quarter 2023 Earnings Call. After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, please register a minimum of 15 minutes before the start of the call.\nA replay will be available on the Company's Investor Relations website shortly after the event atir.strongholddigitalmining.com.\nAbout Stronghold Digital Mining, Inc.Stronghold is a vertically integrated Bitcoin mining company with an emphasis on environmentally beneficial operations. Stronghold houses its miners at its wholly owned and operated Scrubgrass Plant and Panther Creek Plant, both of which are low-cost, environmentally beneficial coal refuse power generation facilities in Pennsylvania.\nInvestor Contact:\nMatt Glover or Alex KovtunGateway Group, [email protected]\nMedia Contact:\[email protected]", "For Immediate Release Chicago, IL – November 1, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: BlackRock, Inc. BLK, NVIDIA Corp. NVDA, Coinbase Global, Inc. COIN, Block Inc. SQ and Interactive Brokers Group, Inc. IBKR. Here are highlights from Tuesday’s Analyst Blog: 5 Cryptocurrency Stocks to Watch as Bitcoin Resumes Rally The price of Bitcoin (BTC), which became range-bound over the past two-and-a-half months, is up again. Bitcoin has been on a rally over the past couple of weeks, surging more than 25%. The cryptocurrency jumped over 14% last week itself and briefly crossed the $35,000 mark. Since then, it has been hovering over $34,500. The sudden surge comes as expectations that the Securities and Exchange Commission (SEC) will approve a Bitcoin exchange-traded fund (ETF) in the coming days. The anticipated green light from the SEC for a Bitcoin ETF is expected to boost demand. This is likely to enable more traditional investors to hold Bitcoin and other cryptocurrencies through conventional stock markets. Moreover, it is predicted to draw fresh investments into the crypto industry, potentially leading to an increase in demand. However, that's not the only reason behind the recent Bitcoin rally. The rally comes amid mixed earnings results from a spate of big tech companies. Investors have lately been ditching the stock market to invest in cryptocurrencies. During uncertain times, investors tend to gravitate towards safer, less speculative options. Bitcoin, being the most trusted among all cryptocurrencies, has been benefiting the most from this situation. Although the cryptocurrency market is not generally regarded as stable or secure, even within this sphere, investors often seek refuge in Bitcoin during periods of surges or rallies in the crypto market. Story continues Stocks in Focus BlackRock, Inc. is one of the world's largest investment managers and is publicly owned. BLK was one of the first companies from the traditional market to join the Bitcoin ETF race back in June 2023. BlackRock's expected earnings growth rate for the current year is 2.2%. The Zacks Consensus Estimate for current-year earnings has improved 1.9% over the last 60 days. BlackRock presently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here . NVIDIA Corp. is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence, and the mining or production of cryptocurrencies. NVIDIA's expected earnings growth rate for the current year is 221.6%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 60 days. NVIDIA presently sports a Zacks Rank #1. Coinbase Global, Inc. offers financial infrastructure and technology to support the global cryptocurrency economy. COIN provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment. Coinbase Global's expected earnings growth rate for the current year is 84.6%. The Zacks Consensus Estimate for current-year earnings has improved 1.1% over the last 60 days. Coinbase currently has a Zacks Rank #3. Block Inc. is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ's decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors. Block has an expected earnings growth rate of 69% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 60 days. SQ currently carries a Zacks Rank #2 (Buy). Interactive Brokers Group, Inc. is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies, which include Bitcoin. Interactive Brokers Group has an expected earnings growth rate of 41% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.2% over the last 60 days. IBKR currently carries a Zacks Rank #2. Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BlackRock, Inc. (BLK) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research", "Chicago, IL – November 1, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: BlackRock, Inc. BLK, NVIDIA Corp. NVDA, Coinbase Global, Inc. COIN, Block Inc. SQ and Interactive Brokers Group, Inc. IBKR.\nHere are highlights from Tuesday’s Analyst Blog:\nThe price of Bitcoin (BTC), which became range-bound over the past two-and-a-half months, is up again. Bitcoin has been on a rally over the past couple of weeks, surging more than 25%. The cryptocurrency jumped over 14% last week itself and briefly crossed the $35,000 mark.\nSince then, it has been hovering over $34,500. The sudden surge comes as expectations that the Securities and Exchange Commission (SEC) will approve a Bitcoin exchange-traded fund (ETF) in the coming days.\nThe anticipated green light from the SEC for a Bitcoin ETF is expected to boost demand. This is likely to enable more traditional investors to hold Bitcoin and other cryptocurrencies through conventional stock markets.\nMoreover, it is predicted to draw fresh investments into the crypto industry, potentially leading to an increase in demand.\nHowever, that's not the only reason behind the recent Bitcoin rally. The rally comes amid mixed earnings results from a spate of big tech companies. Investors have lately been ditching the stock market to invest in cryptocurrencies.\nDuring uncertain times, investors tend to gravitate towards safer, less speculative options. Bitcoin, being the most trusted among all cryptocurrencies, has been benefiting the most from this situation.\nAlthough the cryptocurrency market is not generally regarded as stable or secure, even within this sphere, investors often seek refuge in Bitcoin during periods of surges or rallies in the crypto market.\nBlackRock, Inc.is one of the world's largest investment managers and is publicly owned. BLK was one of the first companies from the traditional market to join the Bitcoin ETF race back in June 2023.\nBlackRock's expected earnings growth rate for the current year is 2.2%. The Zacks Consensus Estimate for current-year earnings has improved 1.9% over the last 60 days. BlackRock presently carries a Zacks Rank #3 (Hold). You can seethe complete list of today's Zacks #1 Rank (Strong Buy) stocks here.\nNVIDIA Corp.is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence, and the mining or production of cryptocurrencies.\nNVIDIA's expected earnings growth rate for the current year is 221.6%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 60 days. NVIDIA presently sports a Zacks Rank #1.\nCoinbase Global, Inc.offers financial infrastructure and technology to support the global cryptocurrency economy. COIN provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment.\nCoinbase Global's expected earnings growth rate for the current year is 84.6%. The Zacks Consensus Estimate for current-year earnings has improved 1.1% over the last 60 days. Coinbase currently has a Zacks Rank #3.\nBlock Inc.is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of Cash App can buy, sell, send and receive Bitcoin. In addition, SQ's decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors.\nBlock has an expected earnings growth rate of 69% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 60 days. SQ currently carries a Zacks Rank #2 (Buy).\nInteractive Brokers Group, Inc.is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies, which include Bitcoin.\nInteractive Brokers Group has an expected earnings growth rate of 41% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.2% over the last 60 days. IBKR currently carries a Zacks Rank #2.\nWhy Haven't You Looked at Zacks' Top Stocks?\nSince 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of+46.4%, +49.5%and+55.2%per year. Today you can access their live picks without cost or obligation.\nSee Stocks Free >>\nMedia Contact\nZacks Investment Research\n800-767-3771 ext. 9339\[email protected]\nhttps://www.zacks.com\nPast performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed\xa0that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and\xa0is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance\xa0for information about the performance numbers displayed in this press release.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report\nBlackRock, Inc. (BLK) : Free Stock Analysis Report\nInteractive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report\nNVIDIA Corporation (NVDA) : Free Stock Analysis Report\nBlock, Inc. (SQ) : Free Stock Analysis Report\nCoinbase Global, Inc. (COIN) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research", "Dubai, Nov. 01, 2023 (GLOBE NEWSWIRE) -- \xa0The 11th edition of the Blockchain Life Forum, widely recognized as the premier meeting point for global cryptocurrency leaders, concluded with a gathering of over 7000 attendees from 120 countries. Blockchain Life has become the center of crypto activities, as well as one of the largest and most important events in the world, summing up the Crypto Year.\nOnce again, traditionally accompanied by the growth of Bitcoin and a bunch of side events, Blockchain Life 2023 took place in Dubai. The main stage provided a platform for more than 100 distinguished speakers, and exemplars of the industry, to share their market insights and insider analysis. These luminaries included founders and С-level of Binance, TRON, Ripple, Bybit, Animoca Brands, Circle, Tether, OKX, HTX, Kucoin, Mastercard, ICP, Trust Wallet, Sandbox, Near, Litecoin, Bitmain, Marathon, Canaan, WhatsMiner, Bitfury, Consensys, BNB chain, Mantle. Moreover, H.E. Justin Sun gave an exclusive speech at the forum, talking about the value of real world assets in the digital age.\n“We were excited to see strong investor interest in the projects showcased at the forum, with participation from private investors and Tier-1 funds like Animoca Brands, Wintermute, and DWF Labs. I'm sure our attendees made wise choices for their portfolios, and we expect the upcoming Bull Run to further amplify their profits.” – said Sergei Khitrov, the organizer of Blockchain Life.\nDuring the event, the crypto community engaged in vibrant discussions on the most pertinent topics, establishing valuable connections, and striking important deals. Furthermore, participants had the opportunity to survey the largest exhibition of crypto companies, boasting over 120 booths, including industry titans such as OKX, HTX, Bitmain, Uminers and others. This exhaustive showcase offered visitors the chance to witness first-hand the cutting-edge technologies and innovations revolutionizing the crypto ecosystem.\nAdding an enchanting conclusion to the forum, participants were treated to the celebrated Legendary AfterParty at one of the world's premier clubs. Against the backdrop of an all-inclusive night, attendees had the unique chance to network and forge relationships in an informal yet stimulating environment.\nAs the curtains fall on the 11th Blockchain Life Forum, attendees return to their respective countries, fueled by the common expectation of an imminent market boost. Looking ahead, mark your calendars for the 12th edition of Blockchain Life on April 15-16, 2024. This highly anticipated event will provide an opportunity for participants to showcase their achievements, celebrate their growth, and lay the foundation for future success.The early bird tickets and sponsorship application are already open – follow the link.https://blockchain-life.comOrganizers of Blockchain Life 2023 – Listing.Help, Jets.CapitalGeneral Sponsor of Blockchain Life 2023 and AfterParty – Uminers.\nCONTACT: Hari Govindarajan PR & Comms Specialist, Luna PR [email protected]", "Blockchain Life Dubai, Nov. 01, 2023 (GLOBE NEWSWIRE) -- \xa0The 11th edition of the Blockchain Life Forum, widely recognized as the premier meeting point for global cryptocurrency leaders, concluded with a gathering of over 7000 attendees from 120 countries. Blockchain Life has become the center of crypto activities, as well as one of the largest and most important events in the world, summing up the Crypto Year. Once again, traditionally accompanied by the growth of Bitcoin and a bunch of side events, Blockchain Life 2023 took place in Dubai. The main stage provided a platform for more than 100 distinguished speakers, and exemplars of the industry, to share their market insights and insider analysis. These luminaries included founders and С-level of Binance, TRON, Ripple, Bybit, Animoca Brands, Circle, Tether, OKX, HTX, Kucoin, Mastercard, ICP, Trust Wallet, Sandbox, Near, Litecoin, Bitmain, Marathon, Canaan, WhatsMiner, Bitfury, Consensys, BNB chain, Mantle. Moreover, H.E. Justin Sun gave an exclusive speech at the forum, talking about the value of real world assets in the digital age. “We were excited to see strong investor interest in the projects showcased at the forum, with participation from private investors and Tier-1 funds like Animoca Brands, Wintermute, and DWF Labs. I'm sure our attendees made wise choices for their portfolios, and we expect the upcoming Bull Run to further amplify their profits.” – said Sergei Khitrov, the organizer of Blockchain Life. During the event, the crypto community engaged in vibrant discussions on the most pertinent topics, establishing valuable connections, and striking important deals. Furthermore, participants had the opportunity to survey the largest exhibition of crypto companies, boasting over 120 booths, including industry titans such as OKX, HTX, Bitmain, Uminers and others. This exhaustive showcase offered visitors the chance to witness first-hand the cutting-edge technologies and innovations revolutionizing the crypto ecosystem. Adding an enchanting conclusion to the forum, participants were treated to the celebrated Legendary AfterParty at one of the world's premier clubs. Against the backdrop of an all-inclusive night, attendees had the unique chance to network and forge relationships in an informal yet stimulating environment. As the curtains fall on the 11th Blockchain Life Forum, attendees return to their respective countries, fueled by the common expectation of an imminent market boost. Looking ahead, mark your calendars for the 12th edition of Blockchain Life on April 15-16, 2024. This highly anticipated event will provide an opportunity for participants to showcase their achievements, celebrate their growth, and lay the foundation for future success. The early bird tickets and sponsorship application are already open – follow the link. https://blockchain-life.com Organizers of Blockchain Life 2023 – Listing.Help, Jets.Capital General Sponsor of Blockchain Life 2023 and AfterParty – Uminers. Story continues CONTACT: Hari Govindarajan PR & Comms Specialist, Luna PR [email protected] View comments", 'Komainu, a digital asset custodian backed by Japan’s largest investment bank, Nomura, announced a partnership with Crypto Garage to develop institutional crypto services in Japan.\nSee related article:UK plans to introduce fiat-backed stablecoin rules in early 2024\n• The firms will jointly develop custody solutions for institutional clients with plans to release other institutional crypto services in Japan in the future.\n• Crypto Garage, a subsidiary of Digital Garage, a Tokyo-headquartered payment technology firm,saidin a press release on Wednesday that the partnership was formed due to the growing interest of Japanese institutions in cryptocurrencies.\n• Nomuralaunched a Bitcoin adoption fund for institutional investors In September through its digital asset subsidiary Laser Digital Asset Management. The US$500 billion investment bank said that the fund is just the first in a range of digital asset investment solutions it plans to launch.\n• Komainureceived an operating license from Dubai’s Virtual Asset Regulatory Authority in late August.\nSee related article:Singapore, Japan, Switzerland and U.K. to collaborate on digital assets pilots', 'Komainu, a digital asset custodian backed by Japan’s largest investment bank, Nomura, announced a partnership with Crypto Garage to develop institutional crypto services in Japan. See related article: UK plans to introduce fiat-backed stablecoin rules in early 2024 Fast Facts The firms will jointly develop custody solutions for institutional clients with plans to release other institutional crypto services in Japan in the future. Crypto Garage, a subsidiary of Digital Garage, a Tokyo-headquartered payment technology firm, said in a press release on Wednesday that the partnership was formed due to the growing interest of Japanese institutions in cryptocurrencies. Nomura launched a Bitcoin adoption fund for institutional investors In September through its digital asset subsidiary Laser Digital Asset Management. The US$500 billion investment bank said that the fund is just the first in a range of digital asset investment solutions it plans to launch. Komainu received an operating license from Dubai’s Virtual Asset Regulatory Authority in late August. See related article: Singapore, Japan, Switzerland and U.K. to collaborate on digital assets pilots', 'What Happened in Crypto Today: SBF Says Fraud Was for Greater Good Co-author: Davier M CoinMarketCap is here with your daily briefing on the latest stories and trends. Yesterday, the crypto community saw SEC Chief Gensler send a warning to crypto firms with a forced holiday joke, while Tether revealed its massive cash reserves. Here is a TLDR of the top stories: Gary Gensler asks crypto firms to stop “tricking” investors on Halloween Tether’s Q3 report shows record level of cash reserves US CFTC paid whistleblowers $16M this year, mostly in crypto cases Allies to gain access to US ransomware data under new policy SBF\'s trial nears closing arguments as judge denies acquittal request Circle will phase out consumer accounts, business and institutional accounts still available Let’s dive in! SEC Chief Tries To Be Hip With Forced Halloween Reference SEC Chairman Gary Gensler just couldn\'t resist an attempt at being cool by wishing Bitcoin\'s whitepaper a happy anniversary with forced holiday references. Gensler followed up his greeting with a joke wondering if mysterious creator Satoshi would dress up as himself for Halloween. After his lame stab at humor, Gensler put on his stern dad voice to warn crypto firms to comply with securities laws or face the consequences. Gensler is clearly trying hard to come across as "with it" and in on the crypto joke with his holiday tweet. Why this sudden attempt to crack embarrassing crypto jokes? Read the full story ! Tether\'s Coffers Are Overflowing Turns out Tether hasn\'t just been idly twiddling its thumbs during the crypto winter - it has been busy stockpiling cash. Tether just revealed its coffers are bursting with $72 billion in cold hard cash, a record-high percentage of its reserves. But with its stablecoin dominance slipping below 70% as competitors advance, how long can Tether cling to its crown before another stablecoin steals the glory? What does its market dominance look like? And how safe are USDT holders? Read the full story ! US Crafts Battle Plan The US government, with 40 other countries, is suiting up for war against ransomware attackers who keep encrypting systems and extorting millions in crypto. Authorities plan to share data on criminals\' crypto wallets with allies, so they can chase the stolen funds before they disappear into thin air! Story continues But with attackers constantly slipping through their grasp, can authorities devise a strong plan to lift this billion-dollar curse before another major attack? Some details on the full plan ! $16M Bounty for Whistleblowers The commodity regulator CFTC paid over $16 million to whistleblowers this year, mostly for snitching about potential “crypto criminals.” Two whistleblowers scored about $15 million alone. But are they snitching on attackers or just crypto investors with large holdings? Read the full story ! And that brings us to our Word of the Day! It’s the Commodity Futures Trading Commission ( CFTC )! The Commodity Futures Trading Commission (CFTC) is an independent federal regulatory agency. It is responsible for regulating the U.S. derivatives market, which includes futures, swaps and certain kinds of options, by promoting its integrity and resilience. It prohibits fraudulent activity in these markets. The CFTC was founded in 1974 with the enactment of the Commodity Futures Trading Commissions Act. During this time, most futures trading took place in the agricultural sector of the country. Since then, the Commission has had to diversify and modernize accordingly. Its jurisdiction includes foreign currencies, national and international government securities, cryptocurrencies and stock indices. But has this agency ever prevented any crypto crime? Read more ! Now back to our daily stories! SBF Hopes To Escape Jail Time The final act is nearing for FTX’s CEO Sam Bankman-Fried as the judge denied his request to flee trial. Prosecutors have woven a web of evidence showing SBF siphoned billions in client funds. But SBF claims it was all for the greater good. In another trial, SBF is set to face five additional counts including a $150 million bribe to a Chinese govt official. Read the full story ! Circle Bars Normies From Minting Circle is canceling the stablecoin printing press for individual customers, reserving the minting power for institutional VIPs only. Perhaps Circle thinks normies can\'t be trusted with such powers. What\'s the real reason behind Circle cold shouldering retail? A crumbling market share? Cost cutting? Or just crypto elitism at its finest? The plot thickens for USDC. Here is the full story with more details! There you have it - the top crypto updates for today! Check back tomorrow as we analyze the latest news and trends. Before you head out, take a sec to sign up for our newsletter below, and we\'ll deliver the hottest crypto stories straight to your inbox! Subscribe to Our Newsletter!', 'The largest crypto exchange in the U.S. announced on Thursday that smaller investors, otherwise known as retail traders, are now be able to tradeBitcoinandEthereumfutures on its U.S. platform.\nCustomers can access the two new financial products through Coinbase Advanced, an offshoot of the exchange’s main platform that lets investors trade more financially complex crypto products. As opposed toCME, a U.S. derivatives exchange that also sells Bitcoin and Ethereum futures, Coinbase’s offering targets shallower-pocketed traders.\n“These contracts offer lower upfront capital requirements and can be an affordable investment option for a broader range of retail customers,” the company wrote in a blog post announcing the products.\nCoinbase’s unveiling of a futures contract in the U.S. for both Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, comes as the exchange looks to diversify its products to compete with the likes of Binance, the largest cryptocurrency exchange in the world.\nFutures allow traders to not only speculate on the future price of an asset but to gamble with more assets than they actually own. Customers can front, for example, $100 as collateral and trade $200 worth of crypto, magnifying their losses and gains as a cryptocurrency’s price waxes and wanes.\nBy mostestimates, the global trading volume of the crypto derivatives markets, which include futures, far outpaces that of crypto spot markets, or the simple purchase or sale of cryptocurrencies. As of Wednesday, the 24-hour trading volume of crypto derivatives was approximately $37 million on Binance compared with just about $9 million in spot, accordingtoCoinMarketCap.\nBinance dominates the crypto derivatives market. The 24-hour trading volume of its nearest competitors OKX and BitMart was a little more than a fourth of Binance’s. If its recent product announcements are any indication, Coinbase, which has historically been more willing than Binance to play nice with regulators and avoid risky crypto financial instruments, is looking for a slice of that pie.\nIn April, the publicly traded crypto exchangeannouncedthat it had obtained a regulatory license in Bermuda. In May, it thenlauncheda Bermuda-based offshore exchange, which specializes in futures. And then, in late September, itopened upits offshore exchange to retail investors.\nThe exchange’s most recent unveiling of crypto futures, however, is in the U.S., where it obtained a license to sell the risky financial instrumentsearlier this year.\nThis story was originally featured onFortune.com', 'Co-author:Davier M\nCoinMarketCap is here with your daily briefing on the latest stories and trends. Yesterday, the crypto community saw SEC Chief Gensler send a warning to crypto firms with a forced holiday joke, while Tether revealed its massive cash reserves.\nHere is a TLDR of the top stories:\n• Gary Gensler asks crypto firms to stop “tricking” investors on Halloween\n• Tether’s Q3 report shows record level of cash reserves\n• US CFTC paid whistleblowers $16M this year, mostly in crypto cases\n• Allies to gain access to US ransomware data under new policy\n• SBF\'s trial nears closing arguments as judge denies acquittal request\n• Circle will phase out consumer accounts, business and institutional accounts still available\nLet’s dive in!\nSEC Chairman Gary Gensler just couldn\'t resist an attempt at being cool by wishing Bitcoin\'s whitepaper a happy anniversary with forced holiday references. Gensler followed up his greeting with a joke wondering if mysterious creator Satoshi would dress up as himself for Halloween.\nAfter his lame stab at humor, Gensler put on his stern dad voice to warn crypto firms to comply with securities laws or face the consequences.\nGensler is clearly trying hard to come across as "with it" and in on the crypto joke with his holiday tweet.\nWhy this sudden attempt to crack embarrassing crypto jokes? Read thefull story!\nTurns out Tether hasn\'t just been idly twiddling its thumbs during the crypto winter - it has been busy stockpiling cash.\nTether just revealed its coffers are bursting with $72 billion in cold hard cash, a record-high percentage of its reserves. But with its stablecoin
**Last 60 Days of Bitcoin's Closing Prices:**
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Use the additional daily data provided in the input below for crucial context.
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Daily Context for Date: 2023-11-01
**Financial & Commodity Data:**
- Gold Closing Price: N/A
- Crude Oil Closing Price: N/A
**Bitcoin Market & On-Chain Metrics:**
- Market Capitalization: $675,767,694,044
- Hash Rate: 462656326.7648482
- Transaction Count: 463644.0
- Unique Addresses: 796206.0
**Social & AI Sentiment:**
- Fear & Greed Index: 0.66
**Other Textual Data:**
- Daily Tweets (Sample): N/A
- Contextual Past News Article: Singapore's new president is Tharman Shanmugaratnam, previously the country's finance minister and central bank chairman. While the role is largely ceremonial, Shanmugaratnam's financial experience may give him some influence over relevant policy. The 66-year-old has called crypto "purely speculative" and "slightly crazy." Tharman Shanmugaratnam, the former Singapore finance minister and central bank chairman who has called crypto "purely speculative" and "slightly crazy," was elected the country's president Saturday with 70.4% of the vote, replacing Halimah Yacob, its first female head of state. While the role is largely ceremonial, the 66-year-old's experience might mean he has some influence in shaping policy related to the future of finance, including cryptocurrencies, central bank digital currencies (CBDCs) and more. Singapore has gone from being an early adopter of crypto to a jurisdiction trying to find the right regulatory balance after the collapse of homegrown crypto darlings Terraform Labs and Three Arrows Capital while Shanmugaratnam was chairman of Singapore's central bank, the Monetary Authority of Singapore (MAS). That was a role he held between 2011 and 2023, overlapping his time as finance minister between 2007 and 2015. He began his career as an economist at the MAS in 1982 after a receiving a Bachelor of Science in Economics from the London School of Economics, a Master of Philosophy in Economics from the University of Cambridge and a Master in Public Administration from Harvard Universitys Kennedy School of Government. He was also short-listed for the top job at the International Monetary Fund (IMF). Shanmugaratnam spent 22 years as a member of parliament, holding several governmental roles including deputy prime minister, Shanmugaratnam's early stance on cryptocurrencies was laissez faire. In 2018, when he wrote cryptocurrency and related trading activity did not pose any threat to Singapore's finance system, and there was no need to prohibit it. Story continues He reiterated that stance in 2023, saying at the World Economic Forum , that crypto is "inherently purely speculative and in fact slightly crazy." While it should remain an unregulated market, he suggested authorities should provide "ultra clarity" on the risks associated with crypto because to "start getting into a game of regulating products, ostrich eggs or crypto or anything else" would be a "never-ending game." Still, for banks and stablecoins the situation is somewhat different. In November 2022, Shanmugaratnam wrote a response to a question in parliament saying that Singapore's banks are required to hold $125 of capital against an exposure of $100 to cryptocurrencies like bitcoin ( BTC ) or ether ( ETH ). "Although the jurisdiction's banks have 'insignificant' levels of exposure to crypto contributing less than 0.05% of total risk weighted assets these types of crypto assets are subject to the toughest risk management requirements set by international standard-setters," he wrote. He added that the prudential treatment for less risky crypto assets, such as tokenized corporate bonds, is similar to the traditional non-tokenized asset. In 2021, Shanmugaratnam said "there may be a role for crypto in future finance that extends beyond pure speculation and illicit finance" and that he envisioned a future in which "regulated stablecoins will have a useful role in a traditional payment system." In August 2022, Shanmugaratnam said the MAS was "actively reviewing" its approach to regulating stablecoins and could potentially bring reserve requirements for stablecoin issuers, referencing the collapse of terraUSD (UST) a stablecoin that lost its U.S. dollar peg the previous May. Last month, the MAS released a regulatory framework for stablecoins . Read More: Singapore: The Center of Asian Crypto Wealth Is Ready for a Reset...
- Reddit Posts (Sample): [['u/Cyrozen', 'Sold BTC hold BCH', 28, '2023-11-01 01:07', 'https://www.reddit.com/r/btc/comments/17kzcv0/sold_btc_hold_bch/', 'Hey all,\n\nNeeded car repairs etc. I’m longing BCH no looking back. Who’s with me?', 'https://www.reddit.com/r/btc/comments/17kzcv0/sold_btc_hold_bch/', '17kzcv0', [['u/Alex-Crypto', 14, '2023-11-01 04:17', 'https://www.reddit.com/r/btc/comments/17kzcv0/sold_btc_hold_bch/k7bkgq2/', 'Nice! Welcome to the club :3', '17kzcv0']]], ['u/Legitimate-Walk-2006', 'Us Marshal Scam', 52, '2023-11-01 01:16', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/', 'I got scammed out of 5,000 dollars recently, and I’m sharing as many details as possible as a cautionary tale.\n\nI received a phone call from someone claiming to be from US customs. I looked up her name and it matched an actual officer, so I continued with the call. The woman said that there were illegal transactions made in my name, with smuggling to Mexico and Colombia. \nNormally, I feel like I wouldn’t fall for such a scam because I’m pretty aware of what they sound like. But I had just returned to college after a very tense and sad family emergency, and was feeling frazzled and stressed. This only raised my adrenaline even more. I also answer calls labeled potential spam or with no caller ID because the last time I didn’t, it ended up being the actual police who were calling about a relative having a serious medical emergency. The guilt of not answering quickly still sticks with me.\n\nAnyways, the woman redirected me to the Marshal for my state. I looked at the website, and the phone number + caller ID matched. The person on the other end then said that I could either go to court and risk 9 years in prison and a 10k fine or do an ADR to resolve the charged under my name. When I agreed to the ADR, he said that I had three hours to do so. He said that I was not allowed to hang up or contact third parties because of legal reasons, which is why I didn’t let my parents know what was happening. If I accidentally hung up, he’d call again. I told the scammers how much money was in my saving and checkings account, and I was instructed to go to the bank and withdraw almost all of it and come up with an excuse. I did so, and then was instructed to go to a specific BitCoin ATM and was provided an address over the phone. So, I slotted my money over and went to another one when the machine didn’t work. I gave my address over the phone and was told that investigators would come to my house tomorrow to help transfer the money back and give me a temporary SSN. \n\nIt was all money given by relatives for my high school graduation, as well as money I earned through multiple jobs and a fellowship as a college student. All gone in a flash. I called my bank and there’s not much I can do to get it back. Thankfully, I have some uncashed checks from work/family that will recover about half of it, there was still $500 that wasn’t deposited, and I’m very thankful to have family members loaning out to me. I’ve also reported to my local bank, police station, and FBI office. However, I feel incredibly embarrassed and stupid to fall for such a scam - I spent three hours driving around to seedy gas stations and even missed a class. if I was in a better headspace maybe I could’ve avoided it. During the call I was too scared to look up information or tell anyone. It was like someone was holding me at gunpoint over the phone. All I can do is share this so that it doesn’t happen again.', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/', '17kziw5', [['u/HaoieZ', 32, '2023-11-01 01:30', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7aywyk/', 'Sorry this happened to you. \n\n​\n\nThis is a fairly common scam we see, the whole fake package filled with drugs or whatever.', '17kziw5'], ['u/duckbrioche', 18, '2023-11-01 01:40', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7b0bev/', 'You mentioned that in the past you had once missed a call from the police about an actual emergency. Did those police leave a voicemail ?', '17kziw5'], ['u/erishun', 11, '2023-11-01 03:02', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7bb9wx/', 'This is a very common scam. I’m sorry this happened to you.', '17kziw5'], ['u/GpaSags', 91, '2023-11-01 04:24', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7bl890/', "I got that call myself once. I've never even been to Texas.\n\nAnd Jesustittyfuckingchrist the Feds \\*never\\* require payment through crypto.", '17kziw5'], ['u/townandthecity', 12, '2023-11-01 05:43', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7btdyk/', 'I think it’s very cool, that you have shared this story here. So many people who are victims of scams are so embarrassed they don’t tell anyone, not relatives, not law-enforcement. That allows the scammers to bilk people of more money. Sharing your story is a good public service.', '17kziw5'], ['u/LOUDCO-HD', 19, '2023-11-01 06:53', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7bz76r/', 'It always amazes me that in this day and age people are still falling for scams.\n\nThen I read a story like yours and I understand why.', '17kziw5'], ['u/FedsRWatchin', 27, '2023-11-01 07:45', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7c2y4l/', 'Instead of looking up agents names which can essily be spoofed. Just to see i google "us marshal bitcoin" and this is the first thing to pop up \n\n"Things to remember:\xa0The\xa0U.S. Marshals Service\xa0WILL NEVER ask for credit/debit card/gift card numbers, wire transfers, or bank routing numbers, or to make bitcoin deposits for any purpose. NEVER divulge personal or financial information to unknown callers. Report scam phone calls to your local FBI office and to the FTC"', '17kziw5'], ['u/Mission_Brilliant302', 18, '2023-11-01 10:19', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7cde8g/', 'Anyone with a bit of critical thinking skills would know that you cannot make criminal charges go away with paying a fee in crypto or gift cards. And yet, people believe it.', '17kziw5'], ['u/SunnyShim', 17, '2023-11-01 11:33', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7ciz7z/', 'The ultimate red flag to you should’ve been them requesting money through not only Bitcoin but by buying it off a Bitcoin ATM. No government official would ask for it since Bitcoin isn’t even considered currency I believe by the government. The government can’t legally pay you in Bitcoin so why would you legally be allowed to pay the government with it?', '17kziw5'], ['u/LadyBug_0570', 11, '2023-11-01 14:13', 'https://www.reddit.com/r/Scams/comments/17kziw5/us_marshal_scam/k7czza1/', 'That along with "don\'t hang up the phone" and telling him to lie to his bank when he withdrew his money.', '17kziw5']]], ['u/Reasonable_Zone4606', 'All in on BTC?', 34, '2023-11-01 01:28', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/', 'I want to know how many people on this sub actually put all investments into BTC. For peace of mind I keep investing different % to stocks and real estate to keep myself diversified. At the same time I feel terrible just settling for 8% avg s and p 500 returns. It actually eats at me that I am not putting all of my spare cash every month into BTC. My belief in BTC trumps my beliefs in the US stock market for sure. Anyone else have the same thoughts?', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/', '17kzsdc', [['u/YellowRobeSmith', 15, '2023-11-01 02:10', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7b4hu5/', 'Can’t tell if this is your advice or if you’re repeating obsolete advice without understanding.', '17kzsdc'], ['u/richardto4321', 98, '2023-11-01 02:26', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7b6l75/', "I asked myself this question in 2013 and wish I didn't listen to anyone saying to diversify. So there's that.", '17kzsdc'], ['u/satoshyy', 31, '2023-11-01 02:32', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7b7bv6/', 'I’m all in and have a good job. I’ll never invest in stocks anymore', '17kzsdc'], ['u/obsidience', 88, '2023-11-01 02:52', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7b9uvj/', 'I like to diversify across multiple receive addresses.', '17kzsdc'], ['u/Romsel87', 13, '2023-11-01 03:10', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7bc8yw/', 'Bitcoin is my only basket. I did not put all money in, i just accumulated like a mofo last 3 years.', '17kzsdc'], ['u/pips_and_hoes', 16, '2023-11-01 03:30', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7bet6d/', 'If there was a time to go all in it would be now. Next halving probably won’t be as big', '17kzsdc'], ['u/Bitbuyer313', 25, '2023-11-01 03:42', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7bgaxk/', 'This guy gets it 😎', '17kzsdc'], ['u/Nado155', 12, '2023-11-01 04:11', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7bjsz4/', 'I saw a similar discussion about the same topic in a different subreddit and of course people flipped out and said 10x times "pls bro diversify". I really would like to met the people who says to diversify and how they navigate through life. Because honnestly, i have the impression those investment "advices" are more driven depending on how risk averse in life in generell.\n\nMy boss for example, he HATES taking risk, I think in his whole life he never took any risk. Everything he does is pretty safe and the outcomes are clear. And of course this transfers to his investment advices. If I could make a promise to my boss that BTC will be in the next 10 years with a probability of 90% worth 1Million/BTC and 10% it stays flat he wouldn invest in it. \n\nThe point is, those advices (yeah of course they are paper saying just invest in iShares ETF World Wide blabla and you have the best perfomance with the least risk blabla) are 99% just driven my personality traits and thats it.', '17kzsdc'], ['u/Hoplakaas', 11, '2023-11-01 09:08', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7c8m1i/', "In hindsight going all would've been best. But since no one can predict the future it's still best to diversify.", '17kzsdc'], ['u/Seattleman1955', 11, '2023-11-01 09:28', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7c9yzx/', 'Focus less on "beliefs" and more on reality. Diversifying is good (regarding any investment plan). I don\'t think you will ever be sorry with 1/3 BTC, 1/3 stocks and 1/3 home equity with something in a money market fund as ell. \n\n\nSleep well at night.', '17kzsdc'], ['u/onestrikelol', 12, '2023-11-01 15:51', 'https://www.reddit.com/r/Bitcoin/comments/17kzsdc/all_in_on_btc/k7ddwir/', 'If you already know the winning horse. Why diversify?\nI was downvoted a lot in this subreddit by saying that', '17kzsdc']]], ['u/michaelinimoto', 'Blue sky bull run could be happening 2024.', 16, '2023-11-01 02:02', 'https://www.reddit.com/r/Crypto_com/comments/17l0gdr/blue_sky_bull_run_could_be_happening_2024/', 'Crypto.com\'s CRO and most other coins are at the end of a multi year consolidation after the massive covid bull run. Look at the graph. The best bull runs happen after lows. If things start climbing it could get crazy, attracting big money and normies. People might fomo again, take out loans, sell thier stocks again and throw it into crypto. Crypto has weeded out most of the weak links during this time and has proved its strength. Bitcoin is stable and strong at 35k.\n\nLooking at charts there is way more upside than downside if "price elasticity " is a thing. CRO exchange has a very good platform, easy to buy, and real use.', 'https://www.reddit.com/gallery/17l0gdr', '17l0gdr', [['u/xfootmanx', 14, '2023-11-01 14:23', 'https://www.reddit.com/r/Crypto_com/comments/17l0gdr/blue_sky_bull_run_could_be_happening_2024/k7d19ih/', "I believe we survived it's only up now.", '17l0gdr']]], ['u/DrestinBlack', 'As Bitcoin hovers around $34,500 I can’t help but smile and think …', 509, '2023-11-01 03:41', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/', '… that’s half way to our previous ATH. $69k.\n\nWe did it before any Spot ETF could bring serious institutional money into the realm, as well.\n\nAnd I can’t think of any realistic reason why we wouldn’t hit that milestone again. So, when I look at whatever my balance is today I just remind myself, with a big ol’grin, that it will be double that amount one day relatively soon.\n\nHappy 15th Bitcoin, time for a real growth spurt in your teen years.', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/', '17l2dsv', [['u/Dettol-tasting-menu', 211, '2023-11-01 04:06', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bj6x3/', 'Yes. May $69k ATH be a blip on the chart, just like the $1k crazy top back in 2012/13 is to us today.', '17l2dsv'], ['u/DrestinBlack', 66, '2023-11-01 04:15', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bk6pk/', 'I think it’s incredibly likely we blow past $69 one day but, unlike with so many (all?) alt coins, I don’t see a reason for Bitcoin to *at leaat* reclaim its previous ATH - and, man, is that reassuring.\n\nI’ve got a large chunk of my retirement to throw at a spot ETF the moment one is available.', '17l2dsv'], ['u/ConclusionMaleficent', 21, '2023-11-01 04:16', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bkd9i/', 'My retirement $$$ already parked in GBTC', '17l2dsv'], ['u/Afr0Karma', 34, '2023-11-01 04:27', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bljnm/', 'Just remember this could also be a buy the rumor sell the news event. Maybe some big players know the etf will get approved and buy it before hands and once they make the announcement they might sell it just like the futures news. Long term it should be good though.', '17l2dsv'], ['u/Forgot_Password_Dude', 14, '2023-11-01 04:48', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bntz6/', 'i parked it since 60% premium. rekt.', '17l2dsv'], ['u/bars2021', 23, '2023-11-01 05:19', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7br0u3/', '420 will be the next major milestone', '17l2dsv'], ['u/DrestinBlack', 19, '2023-11-01 05:21', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7br6so/', 'It did that March 4th, 2016. $420,690 is a bit of a way off but… nice!', '17l2dsv'], ['u/Nimefax', 35, '2023-11-01 05:22', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7brc5o/', "It's the calm before the storm! Buckle up people !!!!", '17l2dsv'], ['u/Rickard403', 11, '2023-11-01 05:28', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7brvmq/', "But $69k wasn't that much past $20k. 3.5x compared to the 20x in the bull run before it.", '17l2dsv'], ['u/DrestinBlack', 18, '2023-11-01 05:28', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7brxww/', 'When I see the S&P move up by 1% I get excited. I rush and check my traditional IRA and see it nudge up and it’s a great feeling.\n\nWhen Bitcoin, my largest bag, goes up 5% I am happy but not really excited because for the size of my currentl holdings it’s not such a big deal.\n\nThen I imagine seeing a bag the size of 50% of my IRA going up 5% in a day - literally, my yearly income in a day. I’m gonna just bloody explode! Hang onto yer butts!', '17l2dsv'], ['u/Zuluuz', 86, '2023-11-01 05:29', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bs1h2/', 'I think people truly underestimate what a low supply environment will do to the price this bull run', '17l2dsv'], ['u/DrestinBlack', 45, '2023-11-01 05:32', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bs99n/', 'Exchange supplies of Btc at record lows, the halving approaches, holders are HODLing (we still allowed to use that term here?). Billion$ of fresh institutional money waiting to buy? I don’t see how we can’t pump 50% easily. And 2x from here isn’t just possible, we did to already one before without a spot ETF', '17l2dsv'], ['u/Zuluuz', 18, '2023-11-01 05:34', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bsgco/', 'Easily. I think we surge well past 100k but it’s anyone’s guess as to what the ath will be after the halving', '17l2dsv'], ['u/DrestinBlack', 12, '2023-11-01 05:52', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bu60m/', 'Yes there is. The SEC could reject them all and we will see a massive drop in price. And I’ll be buying like crazy because … we made it to $69k before without ETFs and I still see no reason why we cant do it again in some years to come.', '17l2dsv'], ['u/goodguy291', 17, '2023-11-01 06:24', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bwxmy/', 'Yes those kinds of crazy gains are likely a thing of the past. We should exceed $69k this cycle but not sure we will get to $100k without an avalanche of new demand coming into the space.', '17l2dsv'], ['u/play_hard_outside', 10, '2023-11-01 06:36', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7bxvpp/', 'If half your IRA going up 5% equals your yearly income, that means your income is only 2.5% the size of your IRA!\n\nYou could live on your IRA alone forever, but likely have other assets too. Why are you working a job???', '17l2dsv'], ['u/DrestinBlack', 15, '2023-11-01 06:43', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7byf8g/', 'I’m semi retired from a well paying 30 year job. That’s where my ira came from. My yearly income these days is … laughable. There is living and then there is *living* - I need to get to the later.', '17l2dsv'], ['u/No_schedule-86', 10, '2023-11-01 07:04', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7c024m/', 'If blackrock is buying Btc they would have to disclose that information', '17l2dsv'], ['u/bobbyv137', 13, '2023-11-01 07:19', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7c13uy/', 'ETF or no ETF, Bitcoin is following the same path as every cycle: bull run peak, monstrous crash, ugly sideways action, then slow accumulation rising into the halving. \n\nIf the 4 year cycle holds true, the current all time high will be invalidated before the end of 2024. And 2025 will see the price rise throughout, with the ‘blow off top’ phase coming Q4 2025. My analysis indicates price will top out between $120,000 ~ $172,000. \n\nThe ETF could get rejected tho it now seems highly unlikely. The Fed could raise rates again *today* or next month. A recession is all but given. Unemployment could spike. Rates could stay elevated well into 2024, nevermind cut. \n\nIf those negative macro events take place then TradiFi will crash and take Bitcoin down as collateral damage. \n\nBitcoin is currently like a ball that’s being held underwater. People seem to overlook at the start of the year it was only a few thousand higher than the price was 5 years before that. This has been a brutal bear market, and unlike many people, I don’t think it’s over yet. \n\nBut that ball can only stay suppressed underwater for so long. And will it’s finally released it will fly.', '17l2dsv'], ['u/lordrognoth', 16, '2023-11-01 08:04', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7c4a44/', '100k is just around the corner', '17l2dsv'], ['u/AdorableClassic5087', 18, '2023-11-01 09:11', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7c8tgg/', 'Institutions are here, that is the avalanche. \nIt hit 70k with a market cap around 1T \n\nWait til it consumes gold, bonds and pensions etc... things could be wild', '17l2dsv'], ['u/Adius_Omega', 34, '2023-11-01 09:18', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7c99mm/', "The bear market low of this cycle has been around $15,000.\n\nHistorically there's been a roughly 20-25x from bear bottoms in the last two cycles.\n\n$1000 - $20,000\n\n$3000 - $70,000\n\n$15,000 - $300,000? \n\nObviously past trends don't mean much but I'd like to think there's potential for it to reach these numbers. \n\nInject this information wherever you can find a vein.", '17l2dsv'], ['u/k85145', 61, '2023-11-01 09:50', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7cbf2n/', "i remember time when btc cost like $3k and I thought that I can't afford getting 1 coin. Now it is almost 35k And I'm like... -_-", '17l2dsv'], ['u/btc21million', 15, '2023-11-01 10:27', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7ce044/', "Says who? \n\nI don't remember the Bitcoin CEO speaking to the press lately...", '17l2dsv'], ['u/McDredd', 12, '2023-11-01 10:39', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7ceudl/', "Lol, for sure Bitcoin'll smoke right past 420.", '17l2dsv'], ['u/ptrnyc', 19, '2023-11-01 14:45', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7d4cwa/', 'Dude my grandparents are not going to deal with private keys and hardware wallets and scammers. They will be happy to pay Blackrock a fee and get some of their investment portfolio in BTC, with the peace of mind given by the ETF', '17l2dsv'], ['u/runji', 24, '2023-11-01 15:46', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7dd4xe/', 'Say you already have an IRA with $100k in there. You can change that allocation to BTC with an ETF without having to pull it out and get penalized to buy BTC like you would have to today.\n\nPeople are seriously underestimating how much money will immediately flow into BTC just as soon as a spot ETF is available.', '17l2dsv'], ['u/getwhirleddotcom', 11, '2023-11-01 21:36', 'https://www.reddit.com/r/Bitcoin/comments/17l2dsv/as_bitcoin_hovers_around_34500_i_cant_help_but/k7ey9b9/', 'I remember being afraid to pull the trigger all the way up from $40 to $1000.', '17l2dsv']]], ['u/AutoModerator', '[Daily Discussion] - Wednesday, November 01, 2023', 37, '2023-11-01 05:00', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/', "**Thread topics include, but are not limited to:**\n\n* General discussion related to the day's events\n* Technical analysis, trading ideas & strategies\n* Quick questions that do not warrant a separate post\n\n**Thread guidelines:**\n\n* **Be excellent to each other.**\n* Do not make posts outside of the daily thread for the topics mentioned above.\n\n⚡**Tip Fellow Redditors over the Lightning Network**⚡\n\n* Send sats as tips using lntipbot to show appreciation for good content.\n* [Instructions and more information](https://www.reddit.com/r/lntipbot/wiki/index/).\n\n**Other ways to interact:**\n\n[Get an invite](https://reddit-bitcoinmarkets.slack.com/join/shared_invite/enQtNjM1NTg3ODgwODUzLWRhOGI3MGFlZDVjMzBlYWYwYzIzZWNlOThjZDQ3ZjhlZGU2MDY2ZGY5ZDZjYzY5MzQyYWJiZWE5YzRiNmY0NmM) to live chat on [our Slack group](https://reddit-bitcoinmarkets.slack.com/)", 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/', '17l3s3w', [['u/dopeboyrico', 26, '2023-11-01 05:04', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7bpi63/', 'Bitcoin\xa0price YTD through end of October by year:\n\n2023: +109.5%\n\n2022: -55.7%\n\n2021: +111.4%\n\n2020: +91.6%\n\n2019: +145.8%\n\n2018: -55.4%\n\n2017: +571.2%\n\n2016: +62.8%\n\n2015: -1.9%\n\n2014: -55.1%\n\n2013: +1,407.8%\n\nBTC price has continued to perform statistically well as price has already more than doubled since the year started.\n\nHighly anticipated potential spot ETF approval date of January 10th is currently 70 days away. The closer we get to that tentative date, the more likely it is that people will FOMO in anticipation.\n\nFed will once again choose to pause on rate hikes tomorrow. Futures are pricing in first rate cut to arrive by middle of next year. That’ll just add fuel to the BTC rocket ship in conjunction with the definite halving event and the decent probability of spot ETF approval arriving prior.\n\nIdk when first $10k single day God candle arrives but I suspect it will arrive sometime between now and January 10th.', '17l3s3w'], ['u/GRYMandFROSTBITTEN', 13, '2023-11-01 08:33', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7c6atb/', 'The TIP/IEF ratio compares two kinds of bonds. Right now it shows TIPS beating regular treasuries.\n\nThis means investors expect inflation to remain high.\n\nIf inflation stays high during a recession, it could cause a liquidity crisis. That\'s when assets like bonds get hard to sell without huge losses.\n\nThis forces more selling of bonds, driving prices down further. It creates a vicious cycle.\n\nSo the ratio suggests bonds may come under pressure if high inflation persists. Even "safe" bonds could lose value.\n\nThis is something important to watch out for when thinking about keeping money in bonds long-term. High inflation may hurt bond prices more than expected. Flight to safety might just be Bitcoin this time.', '17l3s3w'], ['u/dopeboyrico', 16, '2023-11-01 11:36', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7cj9jz/', 'I just want to know how much Bitcoin they fraudulently sold in total so we can get a better idea of how much higher the ATH would have been in 2021 had they not been adding massive amounts of fraudulent selling pressure into the market.\n\nCaroline Ellison already testified that she was instructed by SBF to sell BTC if price went above $20k. BTC price started going above $20k in December 2020.', '17l3s3w'], ['u/adichandra', 11, '2023-11-01 12:06', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7clvoa/', "The bulls don't care about rsi indicator.", '17l3s3w'], ['u/BatteredLittleFish', 15, '2023-11-01 13:59', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7cy5l5/', 'The bulls are going for 35k again and if it breaks it will reach 40k so fast your head will spin.', '17l3s3w'], ['u/johnso21', 10, '2023-11-01 14:16', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d0dys/', 'Puuuuump it', '17l3s3w'], ['u/ivan37', 16, '2023-11-01 14:22', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d15i1/', 'November trying to start with a bang...', '17l3s3w'], ['u/itsthesecans', 12, '2023-11-01 14:29', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d2123/', "If you remember, that's exactly what October did. Also, historically, November is an even better month than October for bitcoin.", '17l3s3w'], ['u/BootyPoppinPanda', 17, '2023-11-01 14:32', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d2idq/', 'Top longers getting rekt before we go back up and say hi to 36k', '17l3s3w'], ['u/opst02', 17, '2023-11-01 14:34', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d2roy/', 'BTC, Reking shorts and longs since 2009', '17l3s3w'], ['u/diydude2', 14, '2023-11-01 14:48', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d4qkr/', "Took 3x the volume to dump it as to pump it, and it didn't even dump to the point where the pump started. Highly bullish.", '17l3s3w'], ['u/jarederaj', 13, '2023-11-01 14:56', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d5tbu/', 'A little surprised to find that the 4h is still green. That’s a hell of a lot of bear volume to go nowhere.', '17l3s3w'], ['u/nottafedd', 10, '2023-11-01 15:00', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d6fdi/', 'Look at the volume comparison. After a massive amount of dumping, the price is still up. That is an impressive amount of dumping and shorts to absorb, and still price moving up', '17l3s3w'], ['u/noeeel', 12, '2023-11-01 15:03', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d6wux/', 'Was this now a upside fakeout from the pennant or a fakout from the outbreak?', '17l3s3w'], ['u/jpdoctor', 11, '2023-11-01 15:21', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7d9f77/', 'Yes.', '17l3s3w'], ['u/VintageRudy', 13, '2023-11-01 16:00', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7dfag7/', "The last two hours were akin to running the dog til it's tired then you can get what you want the rest of the day", '17l3s3w'], ['u/NootropicDiary', 17, '2023-11-01 16:07', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7dgfxu/', 'Call me crazy but I see us taking another crack at 35 today.\n\nOpened up a leveraged long at 34.2', '17l3s3w'], ['u/BootyPoppinPanda', 15, '2023-11-01 16:38', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7dla8q/', 'only\\* 670b blows my mind', '17l3s3w'], ['u/AccidentalArbitrage', 10, '2023-11-01 16:46', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7dmgzj/', "You are the Yin to diydude's Yang.", '17l3s3w'], ['u/PurpleFlamingoFarmer', 11, '2023-11-01 17:24', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7dsmjj/', 'The 12hr is flatlining, seems like selling pressure is weakening', '17l3s3w'], ['u/noeeel', 14, '2023-11-01 17:34', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7dubj6/', 'Please wake me up when this thing has decided where to go.', '17l3s3w'], ['u/NLNico', 23, '2023-11-01 19:00', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7e8gou/', '0 bps as expected.\n\n- [Federal Reserve issues FOMC statement](https://www.federalreserve.gov/newsevents/pressreleases/monetary20231101a.htm)\n\n- [Implementation Note](https://www.federalreserve.gov/newsevents/pressreleases/monetary20231101a1.htm)\n\n- [FOMC Projections materials](https://www.federalreserve.gov/monetarypolicy/fomcprojtabl20231101.htm)\n\nPress conference in 30 mins.', '17l3s3w'], ['u/I_AM_DEATH-INCARNATE', 13, '2023-11-01 19:10', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7ea335/', 'Theoretically, if someone holding Bitcoin decided one day, "Fuck it, it\'s too much risk" and wanted to convert their Bitcoin holdings to the Black Rock ETF once it\'s available, could they do that?\n\nAnd I don\'t mean transfer their BTC to an exchange, sell, transfer money from exchange to broker and buy the ETF.\n\nI wanna know if you could just send your BTC to blackrock in exchange for equal USD value of ETF shares. I understand how colossally stupid this sounds.', '17l3s3w'], ['u/imissusenet', 11, '2023-11-01 19:30', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7eded4/', 'That was the basis of the GBTC carry trade for years:\n\n[https://seekingalpha.com/article/4402341-why-bloom-is-off-bitcoin-trade-for-now](https://seekingalpha.com/article/4402341-why-bloom-is-off-bitcoin-trade-for-now)\n\n[https://medium.com/@0xkeegan/gbtc-arbitraging-regulators-and-retail-investors-since-2015-3740c323e35f](https://medium.com/@0xkeegan/gbtc-arbitraging-regulators-and-retail-investors-since-2015-3740c323e35f)\n\nAn accredited investor could send Grayscale some minimum amount of BTC ($100K?) and be issued shares equivalent to that amount of BTC. Since GBTC was trading at a premium, you were already ahead of the game. However, you had to wait 6 months before you could sell. It was almost free money for quite a while.\n\nEDIT: If memory serves, converting from BTC to GBTC was NOT a taxable event. Selling the GBTC was.', '17l3s3w'], ['u/BatteredLittleFish', 10, '2023-11-01 19:35', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7ee8mj/', 'Who needs the world cup or the superbowl when you have the FOMC day lightsaber!', '17l3s3w'], ['u/haikusbot', 10, '2023-11-01 19:35', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7ee9wi/', '*Who needs the world cup*\n\n*Or the superbowl when you*\n\n*Have the FOMC day lightsaber!*\n\n\\- BatteredLittleFish\n\n---\n\n^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/)\n\n^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")', '17l3s3w'], ['u/NLNico', 10, '2023-11-01 20:10', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7ek061/', 'Authorized Participants (AP) and Market Makers (MM) will be able to create/redeem shares in baskets of 40,000 shares. They give an example of "*if initial NAV is $25 that\'s $1m per basket*" in their S1.', '17l3s3w'], ['u/anon-187101', 11, '2023-11-01 20:38', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7eomab/', "If Bitcoin gets spot ETF approval, we are going to see massive gains over the next few years - I'm convinced.\n\nThese NPCs need their overlords to pat them on the head and tell them it's okay.", '17l3s3w'], ['u/NootropicDiary', 11, '2023-11-01 21:31', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7exf1o/', 'Still holding my long from 34.2 taken out a few hours ago.\n\nLogic says to sell now but my heart tells me this is going to be the time we pump through 35 and hold.', '17l3s3w'], ['u/BatteredLittleFish', 11, '2023-11-01 21:32', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7exnzi/', 'The bears are quickly running out of ammo to suppress this.', '17l3s3w'], ['u/notagimmickaccount', 11, '2023-11-01 21:37', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7eyid8/', 'ground control to major tom.....', '17l3s3w'], ['u/SwiZZlenator', 11, '2023-11-01 21:47', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f06pb/', 'Highest hourly close this year (coinbase) was $34,855 on Oct 25th.. let’s get that first hourly close above $35k!', '17l3s3w'], ['u/BatteredLittleFish', 10, '2023-11-01 21:55', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f1fzk/', 'Dip below 35k just got scooped up in seconds', '17l3s3w'], ['u/snek-jazz', 16, '2023-11-01 21:55', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f1ij6/', '*puts on space helmet*', '17l3s3w'], ['u/dopeboyrico', 17, '2023-11-01 21:58', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f20pa/', 'New YTD high achieved, let’s see if BTC’s ready to extend further.', '17l3s3w'], ['u/_Vatican_Cameos', 10, '2023-11-01 21:58', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f21zf/', 'Oh look, futures close and Btc is free to move', '17l3s3w'], ['u/spinbarkit', 11, '2023-11-01 22:02', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f2oyi/', "if you sell now you will be left with useless dollars... don't do that Jim, it's not the time", '17l3s3w'], ['u/PatientlyWaitingfy', 10, '2023-11-01 22:06', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f3954/', 'Took some profit at 35.4', '17l3s3w'], ['u/noeeel', 10, '2023-11-01 22:09', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f3tl4/', 'Opened a long at 35.2k', '17l3s3w'], ['u/SwiZZlenator', 16, '2023-11-01 22:13', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f4hfb/', 'This PA on MSTR earnings day is poetic. Their EPS has been dragged down by BTC impairments, and without those impairments they had a profitable Q3.\n\n6,067 bitcoins acquired since the end of Q2 for $167.0 million, or $27,531 per bitcoin\n\n158,400 bitcoin holdings at a total cost of $4.69 billion, or $29,586 per bitcoin, as of \nOctober 31, 2023\n\nTotal Revenues of $129.5 million, up 3% year-over-year\n\nSoftware Licenses Revenues of $45.0 million, up 16% year-over-year\n\nSubscription Services Revenues of $21.0 million, up 28% year-over-year', '17l3s3w'], ['u/noeeel', 11, '2023-11-01 22:15', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f4vw6/', 'because I think this outbreak is real', '17l3s3w'], ['u/shadowofashadow', 20, '2023-11-01 22:17', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f56ej/', 'Napkin math, but bitcoin would have to hit a price of $15,000,000 to make them bigger than Apple... damn Apple is huge.', '17l3s3w'], ['u/BatteredLittleFish', 15, '2023-11-01 22:17', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f5756/', 'That dip to 35.2k just now was your "healthy correction" to test the previous rejection wick, this is a clean breakout so don\'t expect much more of a retrace.', '17l3s3w'], ['u/PatientlyWaitingfy', 10, '2023-11-01 22:22', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f5wpf/', 'Apple would buy BTC way before that price', '17l3s3w'], ['u/simmol', 14, '2023-11-01 22:33', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f7scq/', 'Looks like we are up on the 5th wave. Target is 37-38K area. I think there will be a correction from 37-38K to 31-32K in the next few weeks. Then we are off to 42-48K in December.', '17l3s3w'], ['u/diydude2', 18, '2023-11-01 22:37', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7f8dro/', "Not even thinking about closing my long from ~29.7 right now. I'm thinking this will be a blowoff top in the 40s somewhere, maybe later this week, maybe next.", '17l3s3w'], ['u/nationshelf', 11, '2023-11-01 23:12', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7fdyk4/', 'ETF can get us much higher than 42k imo', '17l3s3w'], ['u/simmol', 22, '2023-11-01 23:15', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7fecd9/', 'I am not sure who would be selling here. We broke out of the triangle after a fake pump. Usually, I have never seen two fake pumps in succession so it is highly unlikely that we go down right now. I just see zero logic in selling here, thinking that prices can be pushed down right now.', '17l3s3w'], ['u/Order_Book_Facts', 18, '2023-11-01 23:19', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7fey28/', 'If you are hurting this bad now, it could be a rough couple years for you buddy.', '17l3s3w'], ['u/diydude2', 10, '2023-11-01 23:48', 'https://www.reddit.com/r/BitcoinMarkets/comments/17l3s3w/daily_discussion_wednesday_november_01_2023/k7fj5mz/', 'The correction will be in the upward direction after all the FTX bullshit last year.', '17l3s3w']]], ['u/FatThor123', 'Are my investments good for my age?', 10, '2023-11-01 06:12', 'https://www.reddit.com/r/personalfinanceindia/comments/17l4wv9/are_my_investments_good_for_my_age/', 'Hi! I am 22M working as a Software Engineer with monthly in-hand of 35K. I have been working for 1.4 years.\n\nThese are my investments/savings till now:\nMutual Funds: 3L\nEquity: 70K\nBitcoin: 60K\nSavings Account: 60K\n\nIs this a good number for someone aged 22?\n\nAlso I have an SIP of 24K per month in mutual funds mainly in equity. Is it too risky? Should I diversify a bit into debt/bonds?', 'https://www.reddit.com/r/personalfinanceindia/comments/17l4wv9/are_my_investments_good_for_my_age/', '17l4wv9', [['u/saynototoxicity', 10, '2023-11-01 06:50', 'https://www.reddit.com/r/personalfinanceindia/comments/17l4wv9/are_my_investments_good_for_my_age/k7byyec/', '11k is enough if you are staying in your parents house', '17l4wv9'], ['u/LifeIsHard2030', 16, '2023-11-01 16:23', 'https://www.reddit.com/r/personalfinanceindia/comments/17l4wv9/are_my_investments_good_for_my_age/k7divwl/', '22 yo earning 35k inhand. Glad to see this breed on reddit. \n\nElse its all 22YO earning 40-50LPA, 30 YO earning 1cr 😬', '17l4wv9']]], ['u/rBitcoinMod', 'Daily Discussion, November 01, 2023', 44, '2023-11-01 07:01', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/', "Please utilize this sticky thread for all general **Bitcoin** discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!\n\nIf you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.\n\nPlease check the [previous discussion thread](https://www.reddit.com/r/Bitcoin/comments/17kefmk/daily_discussion_october_31_2023/) for unanswered questions.", 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/', '17l5lc5', [['u/escodelrio', 13, '2023-11-01 13:36', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7cv9kq/', "Historical Bitcoin prices for today, November 1st:\r \n\r \n2023 - $34,402\r \n2022 - $20,484\r \n2021 - $60,915\r \n2020 - $13,759\r \n2019 - $9,230\r \n2018 - $6,401\r \n2017 - $6,738\r \n2016 - $727\r \n2015 - $323\r \n2014 - $325\r \n2013 - $213\r \n2012 - $10.6\r \n2011 - $3.2\r \n2010 - $0.20\r \n\r \nBitcoin's average daily price from 07/18/2010 to 11/01/2023 is $9,739.35.", '17l5lc5'], ['u/Totallynotfakenews', 23, '2023-11-01 14:35', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7d2xw3/', 'Looked at price: $35,100, nice\n\nWent to piss\n\nLooked at price: $34,500\n\nMoral of the story: Don’t piss', '17l5lc5'], ['u/Grumbledook1', 11, '2023-11-01 16:47', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7dmmgv/', "lmao Technical Analysis is complete BUNK. Get phrases like 'consolidating' and 'resistance' out of your head.", '17l5lc5'], ['u/SolVindOchVatten', 10, '2023-11-01 17:13', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7dqtlv/', 'Why would longs get liquidated? And why would that be good?', '17l5lc5'], ['u/pips_and_hoes', 10, '2023-11-01 21:44', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7ezn2s/', 'Here we go', '17l5lc5'], ['u/Samsonite_1604', 12, '2023-11-01 21:47', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f02e2/', '$35k you tease', '17l5lc5'], ['u/JAA427', 12, '2023-11-01 21:53', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f14wy/', 'Hitting refresh button every 2 seconds, I’m $105 from green. Please just let me see it BTC', '17l5lc5'], ['u/Occams_shaving_soap', 10, '2023-11-01 21:57', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f1ur7/', 'Roller coaster up thingy guy', '17l5lc5'], ['u/HurricaneHarvey7', 16, '2023-11-01 22:00', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f2co5/', '\\*lights joint\\*', '17l5lc5'], ['u/atreyu051', 12, '2023-11-01 22:03', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f2vmk/', 'First day of Moonvember', '17l5lc5'], ['u/darioxtc', 10, '2023-11-01 22:12', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f4bor/', 'Wasn’t there supposed to be a “resistance” at $35k?', '17l5lc5'], ['u/pips_and_hoes', 13, '2023-11-01 22:13', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f4f2e/', 'Massive buys coming in lol', '17l5lc5'], ['u/cushite_viper', 13, '2023-11-01 22:16', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f5175/', 'u/ImperialPotentate in shambles right now', '17l5lc5'], ['u/ajhimmler', 20, '2023-11-01 22:21', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7f5s47/', 'Alright. The extra most bestest pepperoni little Caesar’s for me tonight', '17l5lc5'], ['u/srpoke', 11, '2023-11-01 23:58', 'https://www.reddit.com/r/Bitcoin/comments/17l5lc5/daily_discussion_november_01_2023/k7fklbl/', '52 week high again', '17l5lc5']]], ['u/analogOnly', 'Bitcoin ETF Approval for Jan 10th 2024 has a high likelihood of being approved!', 28, '2023-11-01 07:09', 'https://www.reddit.com/r/Bitcoin/comments/17l5p1n/bitcoin_etf_approval_for_jan_10th_2024_has_a_high/', '**Bitcoin ETF approval in January a ‘done deal,’ AllianceBernstein\'s research arm says"The probability of an approval by the Jan. 10 due date looks highly likely," according to Bernstein Research.** \n\n\\- This is a good article, Bernstein Research notes that the SEC has been very responsive in adding comments, clarifying, and editing terms that pertain to the BlackRock Spot BTC ETF. Indicators are looking good, and while I know a lot of people on this sub are anti- ETF, I promise it\'s a good thing as long as BlackRock is buying and selling actual BTC, which they claim they will be doing. \n\nIf you\'re still unsure about it, the best way to think about this Bitcoin exposure as an Exchange Traded Fund, realize there are plenty of people who are not yet retired and carry a 401K or IRA. The money in retirement accounts is locked until you are 59.5 years old. You can take it out earlier, but not without penalty. This means people who have money in their retirement accounts can freely invest in a Bitcoin ETF inside their 401K or IRA without any penalties. This is a BIG market. The more people wanting this, the more BTC BlackRock will have to buy, and as long as you\'re not selling, the price will go up.\n\nI saw a post earlier about weather to buy BTC or buy the BTC ETF when it comes out. If you have the money sitting around, buy BTC. If you have money locked in a 401k/IRA buy the ETF. If you have both, BUY BOTH. This is awesome for me because I want to have BTC exposure in my retirement accounts and this will let me do it. \n\n\nNow back to the original topic:\n\n[https://www.thestreet.com/crypto/markets/bitcoin-etf-approval-in-january-a-done-deal-alliancebernsteins-research-arm-says](https://www.thestreet.com/crypto/markets/bitcoin-etf-approval-in-january-a-done-deal-alliancebernsteins-research-arm-says)', 'https://www.reddit.com/r/Bitcoin/comments/17l5p1n/bitcoin_etf_approval_for_jan_10th_2024_has_a_high/', '17l5p1n', [['u/Normal-Jelly607', 16, '2023-11-01 07:30', 'https://www.reddit.com/r/Bitcoin/comments/17l5p1n/bitcoin_etf_approval_for_jan_10th_2024_has_a_high/k7c1xxh/', 'But the rumour. HODL the news.', '17l5p1n']]], ['u/Revolutionary-Law545', 'Investing or Trading Bitcoin in 2023?', 28, '2023-11-01 07:20', 'https://www.reddit.com/r/Bitcoin/comments/17l5ude/investing_or_trading_bitcoin_in_2023/', "I have been trading Bitcoin with USDT, and Fiat for some time now. Not making a huge profit tbh. Whereas my friends who invested in Bitcoin made 15k$ in just a few months.\n\nNow, I am reconsidering my decision.\n\nWhat do you think is better? Why and how much profits you are making? \n\nP.S. Don't message me with your courses. I don't want to buy anything. Thanks.", 'https://www.reddit.com/r/Bitcoin/comments/17l5ude/investing_or_trading_bitcoin_in_2023/', '17l5ude', [['u/BTCMachineElf', 74, '2023-11-01 08:02', 'https://www.reddit.com/r/Bitcoin/comments/17l5ude/investing_or_trading_bitcoin_in_2023/k7c44y5/', "I always shake my head at people who find the hardest, soundest money known to man, one of the easiest investments of all time, and instead of buying in, they pla...
Based on the news and historical prices provided in the instruction and this contextual data, predict the next 10 days of Bitcoin's closing price.
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