Analysts from Bitfinex stressed that this regime change comes as the debasement trade narrative takes center stage once again, with bitcoin starting to be considered, alongside gold, as a hedge against deteriorating fiscal and monetary fundamentals.
The digital asset market is gaining short-term momentum while institutional investors hold on for longer periods. Macro factors still influence crypto, especially the largest asset by market capitalization, since securities regulators approved exchange-traded funds.
History hasn't been kind to Bitcoin's price performance in September.
Capital B just closed a €21.0 million private placement.
The two-week pause in Strategy's Bitcoin sales removed a key headwind in market sentiment after offloading 6,948 BTC between May and August, according to a report by Bitfinex.
The Bitcoin market may face volatility as the short squeeze ends, with potential for a digestion phase amid a hawkish Federal Reserve stance. Charles Schwab says Bitcoin short squeeze is over as leverage resets and Fed stays hawkish.
While the Nasdaq drifts and gold quietly plays its classic safe-haven role, bitcoin has crashed the party, started shadowing the yellow metal, and left everyone waiting on Kevin Warsh's next sentence.
The proposed preferred raise covers 1.51% of the target before AI allocations and an 18-month dividend reserve.
Fed Chair Kevin Warsh avoided signaling the next rate move at Jackson Hole, leaving Bitcoin traders without fresh monetary-policy guidance. US inflation remains elevated, with PCE inflation at 3.7%, keeping the Fed focused on price stability. Bitcoin trades at $77,548, down 2.88% over 24 hours, after recently pushing above $80,000.
Strategy co-founder Michael Saylor has joined a viral AI-generated crypto meme involving Fundstrat co-founder Tom Lee, using the humorous exchange to reinforce his unwavering support for Bitcoin over Ethereum and other digital assets. Saylor shared an AI-generated video on X on Friday with the caption, Sorry, @fundstrat.
Fed Chair Kevin Warsh struck a hawkish tone at Jackson Hole, lifting expectations of rate hikes and pressuring Bitcoin, which briefly slipped below $77,000.
North Korea-linked hacking organization Lazarus Group has transferred approximately $19.4 million worth of Bitcoin after a period of wallet inactivity, drawing attention from crypto analysts monitoring potentially stolen digital assets. According to blockchain intelligence platform Arkham Intelligence, a wallet associated with Lazarus Group moved roughly 244 BTC, valued at about $19.42 million.