💰 QCP Capital highlights ether's 'significant' underperformance compared to bitcoin in August

QCP Capital analysts emphasized ether's significant underperformance relative to bitcoin in August and cautioned that September might bring additional declines. "Bitcoin ended August down 8.6%. We started the month with the 'Bank of Japan crash' and bitcoin was never able to recover above $65,000. Ethereum performance in August was significantly poorer, down 22.2% in August on the back of alleged selling by Jump Trading," QCP Capital analysts said.

Source

@Bitcoin_Ethereum_Altcoins

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💰 Bitcoin leads $305 million outflows as strong US economic data hits crypto

Crypto investment products faced significant outflows last week, totaling $305 million, as negative sentiment spread across various providers and regions, according to CoinShares‘ latest weekly report. James Butterfill, CoinShares’ head of research, attributed these outflows to stronger-than-expected US economic data. He noted that this data “diminished the likelihood of a 50-basis point interest rate cut.”

Source

@Bitcoin_Ethereum_Altcoins

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💰 Court Approves BTC Loan for Bankrupt Bitcoin Mining Firm

Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin.

Source

@Bitcoin_Ethereum_Altcoins

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💰 Solo Bitcoin miner earns $200,000 reward amid growing centralization concerns

A solo Bitcoin miner has independently solved a BTC block to earn a reward of 3.275 BTC, roughly equivalent to $200,000. On Aug. 29, Con Kolivas, a software engineer and administrator of the solo mining pool ckpool, announced on X that the miner had successfully solved the 291st solo block in Bitcoin’s history.

Source

@Bitcoin_Ethereum_Altcoins

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💰 Bitcoin falls back to $59k after bulls fail to sustain momentum

Bitcoin (BTC) lost the momentum seen over the past day and slid below $59,000 after bulls failed to push prices past the key $61,000 price, which has previously acted as a support and resistance level. The flagship crypto fell to a low of $58,866, erasing almost all of the 3.2% gain recorded over the past day within an hour. As of press time, BTC was trading at $59,200 — roughly back where it started the brief rally earlier this week.

Source

@Bitcoin_Ethereum_Altcoins

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💰 IREN posts record $184.1 million annual bitcoin mining revenue as capacity nearly doubles

IREN, formerly Iris Energy, reported its financial results for the year ending June 30 on Wednesday — posting record bitcoin mining revenue as its self-mining capacity nearly doubled. IREN generated $184.1 million in bitcoin mining revenue for the 2024 fiscal year, up 144% from the $75.5 million the firm generated in the 2023 fiscal year, driven by hashrate growth and higher bitcoin prices.

Source

@Bitcoin_Ethereum_Altcoins

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⚪️ Crypto.com Adds Paypal as Payment Option in US for Crypto Purchases

Crypto trading platform Crypto.com has integrated Paypal as a payment method for U.S. users to buy cryptocurrencies, enabling transfers between Paypal and Crypto.com wallets. “Further integrating traditional and digital payment capabilities is critical to the continued mainstreaming of cryptocurrencies,” said Crypto.com’s president.

Source

@Bitcoin_Ethereum_Altcoins

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Telegram CEO Pavel Durov has been released under judicial supervision in France. He is required to pay a €5 million deposit and is prohibited from leaving the country.

🤝 @Cryptocurrency_Inside ✅

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crazy quick

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