Bitcoin Price Drives Toward $80K as Economist Warns of 'Massive QE'

Bitcoin rebounded to an August high of $79,989 after briefly dipping below $77,000, recovering from a weekend market slump.   Key TakeawaysBitcoin nearly touched $80,000 before settling around $79,200 after brief market volatility.Market liquidations topped $396 million as Coinglass reported short positions taking the biggest hit.Bitfinex analysts noted that bitcoin needs strong spot demand to pass $80,000 and reach $86,500.  Market Recovery and Bitcoin Price Swings  Bitcoin nearly tapped $80,000 on Monday as the cryptocurrency market appeared to recover from a weekend slump, which saw several high-cap altcoins back off from multi-month highs. Market data shows that after briefly dipping below $77,000 two hours before midnight, bitcoin rebounded and largely trended just below $77,500 until around 7:30 a.m. EST.  Shortly afterwards, bitcoin‘s price echoed last week’s bull run by spiking to just under $79,200 before a quick sell-off pulled it back to $78,200. A secondary surge pushed prices higher, reclaiming $79,000 and reaching a new August peak bitcoin price of $79,989. However, a second wave of profit-taking quickly dragged the cryptocurrency back to $79,200.  Despite this, the bitcoin price action during the 24-hour period, left it with daily gains of approximately 3% and pushed its market capitalization to $1.59 trillion. The latest gains also brought

3 دن پہلےانڈسٹری

AI Over Dogecoin: CleanCore Liquidates 463 Million DOGE to Build More Data Centers

CleanCore Solutions, Inc. (ZONE) has completely wound down its Dogecoin treasury strategy and launched a large-scale follow-on offering to finance its AI infrastructure.  The business U-turn is taking place against the backdrop of a prolonged collapse in the issuers own stock and includes the complete sale of its legacy ozone-based cleaning products manufacturing segment.  As part of the strategic shift, CleanCore fully liquidated its crypto portfolio on July 20, selling 463 million DOGE tokens for $33.4 million. Notably, Dogecoin itself effectively ignored the sell-off.  The cryptocurrency held its key support levels and continues to trade steadily at around $0.0917, moving within its own independent trend and separately from the plunging stock of the former Dogecoin treasury company.  Currencies s limits for micro-issuers but failed to stop the stocks decline.  CleanCore stock (ZONE) vs. Dogecoin (DOGE) performance chart from 2024 to August 2026. Source: TradingView  The proceeds from the asset liquidation and follow-on offering are being directed toward the accelerated construction of new data centers. The company currently has two key projects: a 200-megawatt data center in West Texas, with financing expected to close by the first quarter of 2027, and a highly reliable 40-megawatt Tier 3 data center in Minnesota.  As part of the Minnesota project, the

3 دن پہلےانڈسٹری

Bitcoin, Ethereum ETFs Grew $23 Billion Last Week—Only $2.6 Billion Was New Money

In briefU.S. spot Bitcoin and Ethereum ETFs added $2.6 billion in net inflows for the week ending August 21, their best week since October 2025, while total assets under management jumped roughly $23 billion.Bitcoin ETF assets rose 25.4% to $96.1 billion and Ethereum ETF assets rose 35.9% to $14.3 billion, according to SoSoValue data.Bitcoin gained about 24% and Ethereum about 30% during the week after the Treasury doubled a bond-buyback program and a short squeeze wiped out billions in bearish bets.  U.S. spot Bitcoin and Ethereum ETFs picked up roughly $23 billion in total value last week. Only $2.6 billion of that came from new money. Everything else came from Bitcoin and Ethereum simply getting more expensive.  That distinction may get lost in the euphoria of a market rally. A crypto funds total value—whats called assets under management, or AUM—grows for two separate reasons: fresh cash coming in the door, or the coins already sitting inside becoming worth more. Last week, almost all of the growth was the second kind.  Myriad: Bitcoin next price move? Click to make your prediction.  Spot Bitcoin ETFs added $1.92 billion in net inflows for the week ending August 21, while Ethereum funds took in $697.2 million. Combined, that

3 دن پہلےانڈسٹری

Chain shutdown strips BounceBit token utility after authorization flaw exposes 286M tokens

BounceBit will retire its standalone Layer 1 and reissue BB on BNB Chain after the company said an authorization flaw moved about 286.5 million BB from nine accounts.  Related Asset BounceBit #824 BB · $0.01 24-hour change: up 2.29% Price history is not available. 24H Up 2.29% 7D Down 7.30% 30D Down 42.31%  For holders, the immediate remedy is a 1:1 reconstruction of balances. The larger consequence is unresolved BounceBit token utility: its previous gas, staking, rewards and governance roles belonged to a network that will not return.  BounceBit attributed the incident to protocol-level authorization logic inherited from the Evmos stack. It said the flaw let a caller identify another account as the funding source without the required approval, while private keys, signatures and wallets remained uncompromised. The response ends the network instead of patching and restarting it, making BBs remaining economic role the central question.  A replacement ledger for BounceBit token utility, not a rollback  BounceBit is using block 20,697,260, timestamped 21:02:35 UTC on Aug. 19, as the cutoff for the BEP-20 reissue. Transactions made after that block will not carry over to the replacement ledger.  The retired chain will stay retired. BounceBit is recognizing an earlier account state on a different network, leaving both

3 دن پہلےانڈسٹری

Saylor sat out Bitcoins 20% rally while Tom Lee bought Ethereum after a 30% surge

Bitcoin and Ethereum surged last week as falling Treasury yields, renewed US crypto optimism, and a wave of short liquidations sent digital assets sharply higher.  Related Asset Bitcoin #1 BTC · $79,019.25 24-hour change: up 2.09% 24H Up 2.09% 7D Up 23.36% 30D Up 23.22%  Bitcoin climbed more than 20% and approached $80,000, while Ethereum gained about 30% in its strongest weekly advance since May 2025.  The rally drew fresh $2.6 billion in ETF inflows, forced billions of dollars in bearish positions out of the market, and pushed both assets to multi-month highs.  Interestingly, the breakout produced a sharp split between the companies behind cryptos two largest corporate treasuries.  Related Asset Ethereum ETH · $2,474.72 24-hour change: up 0.88%  Strategy, the largest corporate holder of Bitcoin, used the strength to raise capital without adding to its BTC holdings, while BitMine Immersion Technologies, the largest ETH holding company, continued buying the digital asset into the rally.  Strategy uses the rally to build a $6.7 billion cash buffer  Strategys decision to sit out Bitcoins breakout coincided with one of its largest capital raises, leaving the company with more cash to deploy than at any point in its Bitcoin-buying campaign.  Related Company Strategy Business intelligence software  Between Aug. 17 and Aug. 23, Strategy

3 دن پہلےانڈسٹری

XRP ETF Inflows Hit $1.55 Billion Record Amid 70% Price Surge

Spot XRP ETFs recorded their best week since May, gaining $39.78 million as the token exploded to a seven-month high following months of stagnant demand.  The rally lagged the broader crypto market by a day before catching up with force.  Sponsored  Sponsored  XRP ETF Inflows Finally Break Their Streak  Investors returned to the funds on August 18, pouring $5.81 million in what became the biggest daily net inflow of the month at that point, following a painful streak in which seven of the months first eleven trading days saw no inflows at all.  Wednesday brought only $2.35 million, even as the US Treasury announced a major monetary pivot and Trump hosted a White House Crypto Summit, the catalysts widely credited for that days broader market revival across Bitcoin and Ethereum.  Both assets saw immediate inflow spikes that session, while XRP was noticeably slower to join the rally despite the same underlying catalysts.  Inflows picked up Thursday at $13.24 million, then jumped to $18.38 million on Friday, the single-best day for the funds since May 14, according to SoSoValue data. The cumulative total net inflows hit a new all-time high of $1.55 billion.  Follow us on X to get the latest news as it happens.  Daily XRP ETF Inflows During the

3 دن پہلےانڈسٹری

Zondacrypto boss seeks leniency for testimony on political ties: Report

Przemysław Kral, the head of the collapsed cryptocurrency exchange Zondacrypto, has reportedly been charged with participating in an alleged large-scale fraud and has begun cooperating with Polish prosecutors.  Kral is seeking a reduced sentence in exchange for testimony that could include details about Zondacryptos funding of right-wing politicians, Polish outlet Onet reported Monday.  According to Onet, prosecutors estimate Zondacrypto customers lost at least 2.4 billion Polish zlotys ($650 million). Investigators said the exchange used only part of customer funds to buy crypto, while the rest was transferred to private accounts controlled by Zondacrypto managers.  Onet reported Friday that Kral had been negotiating the terms of possible cooperation with prosecutors for six months. He reportedly held informal meetings with prosecutors in Poland, Sicily and Persian Gulf countries to discuss a potential deal.  Kral has remained silent on X since publicly disclosing in mid-April that Zondacrypto could not access a cold wallet holding about 4,500 Bitcoin. He has denied accusations of misappropriating funds and said the wallets private keys were supposed to have been transferred by Zonda founder and former CEO Sylwester Suszek, who has been missing since 2022.  Zondacrypto was the main sponsor of the Conservative Political Action Conference (CPAC) held in Poland days before the

3 دن پہلےانڈسٹری

Crypto advocacy groups oppose Illinois digital asset tax in court

The Crypto Council for Innovation (CCI) and Blockchain Association (BA) filed a lawsuit against Illinois officials regarding the states 0.2% tax on cryptocurrency, expected to be enforced starting in January 2027.  In a lawsuit filed Friday in the Circuit Court of the Seventh Judicial Circuit for Sangamon County, lawyers for the two crypto advocacy groups challenged Illinois‘ digital asset tax on the grounds it violated the US Constitution, the state’s constitution, federal and state due process laws and the federal Internet Tax Freedom Act. Illinois Governor JB Pritzker signed the measure into law as a “privilege tax” in June as part of the states fiscal year 2027 budget, requiring crypto users to be taxed as applied to transaction volume rather than income.  On the due process claim, CCI and BA argued that the tax was “unconstitutionally vague” by placing the burden on residents and brokers “under the threat of serious civil and criminal penalties” to determine what and how such assets were taxed. Notably, the crypto organizations arguments under the US Constitution were based on alleged violations of the Commerce Clause covering interstate commerce, claiming that the state tax “creat[ed] the specter of duplicative taxation.”  “States have an important role to play in

3 دن پہلےانڈسٹری

llinois 0.2% crypto tax faces new industry lawsuit

Two U.S. crypto trade groups have sued three Illinois officials to stop a 0.2% digital asset tax from taking effect on Jan. 1, 2027.  Illinois crypto tax faces six legal claims  The 39-page complaint, filed by the Blockchain Association and Crypto Council for Innovation in Sangamon County Circuit Court, seeks declaratory and injunctive relief against the Digital Asset Tax Act.  Filed against Illinois Department of Revenue Director David Harris, Attorney General Kwame Raoul, and Sangamon County States Attorney John Milhiser, the case challenges the officials responsible for implementing, collecting, and enforcing the tax.  According to the filing, Illinois would impose the levy on the full value of a customers digital assets whenever a covered broker exchanges, transfers, or stores them. The groups said a customer could owe the tax even without selling an asset, transferring ownership, or earning a profit.  The complaint sets out six counts under federal and state law. CCI and the Blockchain Association allege that the measure violates the federal Internet Tax Freedom Act, the Commerce Clause, and due process protections under the U.S. Constitution.  At the state level, the groups claim the tax violates Illinois Uniformity Clause, unlawfully delegates tax policy to an administrative agency, and fails to meet a state constitutional

3 دن پہلےانڈسٹری

US Dollar: Weakness may stabilize as US growth advantage persists

Brown Brothers Harriman‘s (BBH) Elias Haddad notes that the Treasury’s buyback announcement initially pushed longer-term Treasuries lower, weakened the Dollar and boosted Gold. He argues the USD slump should stabilize this week, with the US growth advantage offsetting fiscal concerns. Futures imply modest further Fed tightening, but BBH sees risks skewed toward a dovish repricing as inflation and labor data remain contained.  USD slump expected to stabilize  “The Treasury‘s buyback announcement dominated market action last week. Longer term Treasury yields initially fell but the relief proved fleeting, USD weakened against all major currencies and gold rallied. The Treasury’s intervention blurred the lines between improving market functioning and suppressing borrowing costs to contain fiscal stress.”  Discover more  Selecting An Online Payment Gateway  Subscribing To Digital Newspaper Outlets  exchange-traded funds  “Regardless, we expect the USD slump to stabilize this week. The widening US growth edge over other major economies, reflected by the composite PMIs, can offset some of the structural drag to USD from worsening US fiscal credibility.”  “ADP private employment change for the week ending August 8 will be of interest (Tuesday). While the weekly ADP is poor at predicting monthly NFP change, it does a better job at capturing the broad direction of travel. And it currently points

3 دن پہلےانڈسٹری
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