Japan's two-year government bond yield rose to 1.746%, its highest in over 31 years, increasing the cost of the yen carry trade that funds global risk assets like Bitcoin. Despite a narrower yield gap with the US, the yen weakened past 160 per dollar, even after massive interventions by Japan and the US. This divergence suggests confidence issues beyond interest rates. The yen carry trade influences Bitcoin's price, as seen in August 2024 when yen appreciation triggered sell-offs. Bitcoin currently trades near $79,000, with the upcoming Bank of Japan rate decision largely priced in but still significant for market sentiment.
BitMine Immersion Technologies purchased 53,501 Ethereum tokens last week, increasing its total holdings to 5.9 million ETH, valued at about $14.8 billion. This represents roughly 4.9% of Ethereum's total supply. The company has staked 5.07 million E...
Bitcoin is showing signs of preparing for another upward move after holding key support levels despite a sharp intraday sell-off. The cryptocurrency has rebounded from around $64,700 earlier in August to consolidate near $78,000, following a strong t...
Most major cryptocurrencies experienced price declines, including Bitcoin, Ethereum, and Binance Coin, which fell by less than 3%. However, some coins like Monero (XMR) and MNT showed significant gains, rising 10.89% and 7.90% respectively. The mixed...
Anthony Pompliano, a prominent Bitcoin advocate, remains strongly bullish on Bitcoin, emphasizing it as the leading cryptocurrency solving major financial issues like money transfer. He predicts Wall Street will invest heavily in altcoins he consider...
Bitcoin traded near $78,400 on August 31, marking a roughly 24% gain in August, its strongest monthly performance since 2017. This rally was supported by $1.92 billion inflows into U.S. spot Bitcoin ETFs and $6.55 billion in short liquidations across...
