🇺🇸 US prosecutors argue FTX's Ryan Salame’s guilty plea didn’t stop investigation into partner

U.S. prosecutors say they did not breach a plea agreement made with former FTX executive Ryan Salame and did not make any promises about future indictments against his partner, Michelle Bond, in the latest court filing. Salame accused the government last month of misconduct and asked for a New York court to either dismiss any indictment of Bond for campaign finance violations or, if not, vacate his conviction judgment.

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https://t.me/Bitcoin_Crypto_Signals

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🪙 Ethereum CME futures trading volume hits 9-month low in August

Chicago Mercantile Exchange (CME) Ethereum futures volume dwindled to a multi-month low in August, according to The Block's data. Aggregated monthly trading volumes of CME Ethereum futures for the month of August were $20.8 billion, according to The Block's Data Dashboard. The trading volumes, estimated in dollar terms, show a 31% decline from July's $30.5 billion. According to The Block's data, August's trading volume was a low not seen since November 2023.

Source

https://t.me/Bitcoin_Crypto_Signals

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🪙 Ethereum’s network revenue plunges by 99%, sparking ‘death spiral’ concerns

Ethereum’s layer-1 network has witnessed a drastic decline in revenue, plummeting by 99% since March 2024. Data from Token Terminal reveals that network revenue peaked at over $35 million on March 5. However, by Sept. 2, daily revenue had plunged to a yearly low of around $200,000. Market observers attribute this decline to the growth of layer-2 (L2) networks and the March Dencun upgrade, which reduced fees for L2 transactions and reshaped Ethereum’s revenue structure.

Source

https://t.me/Bitcoin_Crypto_Signals

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💰 Bitfarms mines 233 BTC in August as Riot pens open letter in takeover saga

Bitcoin miner Bitfarms reported generating 233 BTC ($13.9 million) in August, as its operational hashrate grew 2% month over month to 11.3 EH/s. However, despite Bitfarms’ hashrate increase, the bitcoins it earned in August represent an 8% drop on July’s 253 BTC, which the firm attributed to higher average network difficulty levels during the month. Bitfarms’ August generation fell 39% year-over-year following the impact of the halving event on miners’ revenues in April and with network hashrate near all-time highs.

Source

https://t.me/Bitcoin_Crypto_Signals

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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

https://t.me/Bitcoin_Crypto_Signals

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💰 Arthur Hayes Predicts Bitcoin Boom as Central Banks Cut Interest Rates

Bitmex co-founder Arthur Hayes is optimistic about bitcoin’s future, citing recent interest rate cuts by central banks. He believes further rate cuts by the U.S. Federal Reserve, Bank of England, and European Central Bank could expand the money supply and drive inflation. Hayes argues that while inflation may negatively impact some businesses, it would benefit bitcoin due to its fixed supply and deflationary nature.

Source

https://t.me/Bitcoin_Crypto_Signals

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💰 Bitcoin network’s maturing phase reflected in post-halving fee stability

Bitcoin transaction fees have exhibited fluctuating patterns since the beginning of 2024, with notable spikes around significant events. The most prominent surge occurred in April, correlating with the Bitcoin halving event. This period saw transaction fees spike briefly to over 1,200 BTC, highlighting the network’s increased demand during this critical period.

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https://t.me/Bitcoin_Crypto_Signals

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🥇 Bitcoin still underperforming stocks since early August deleveraging event: Coinbase

Bitcoin has not performed as well as U.S. stocks and other macro assets over the past few weeks following the widespread deleveraging in early August. On Monday, Aug. 4, the cryptocurrency market shed approximately $367 billion in value within a 24-hour period. This selloff coincided with a broader decline in equities in one of the worst days for risk assets since the "Black Monday" crash of 1987.

Source

https://t.me/Bitcoin_Crypto_Signals

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💰 Bitcoin volatility likely to ease as market anticipates Fed rate cuts, says QCP Capital

Bitcoin price volatility is expected to decline as market participants prepare for the potential start of a rate-cutting cycle by the U.S. Federal Reserve next month. "In the lead-up to next week’s U.S. non-farm payroll report, we expect market volatility to continue its downtrend as the market positions itself for potential rate cuts by the Fed." QCP Capital analysts said.

Source

https://t.me/Bitcoin_Crypto_Signals

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