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BlackRock's clients shift from Bitcoin to Ethereum, hinting at a potential institutional re-shuffling.
The filing shows 79 more BTC, 430,000 more effective common shares and an unresolved funding link.
Jamie Coutts says Bitcoin's decline reflects weak demand and shrinking global liquidity rather than pressure from Michael Saylor's Strategy.
Strategy's cash reserve bolsters financial stability, potentially influencing Bitcoin market dynamics with latent buying power. Strategy raises over $500M through equity sales, but its Bitcoin pile stays exactly the same.
Bitcoin's trading activity has entered a notably subdued phase this summer, with recent analysis from research firm K33 indicating that July is shaping up as the weakest month for spot volume in the leading cryptocurrency since the closing stretch of 2023.
With August 3 shaping up to be a pivotal day for cryptocurrencies with the probable vote on the CLARITY Act, digital assets have started reacting to the expected tailwinds, with Bitcoin (BTC) gaining 7.25% in the last 30 days.
Bitcoin traded near $64,400 on Wednesday morning at 8:30 a.m. EDT, up roughly 1.6% over the previous 24 hours as positioning accelerated ahead of the Federal Reserve's afternoon rate decision. Price Rebounds From Overnight Low The move higher came after bitcoin briefly slipped below $63,000 in the prior session before buyers consistently defended that area.
The delay in TSMC's Arizona fab could exacerbate global semiconductor supply constraints, impacting tech innovation and economic dynamics. TSMC's Arizona fab delays could squeeze Bitcoin mining chip supply through 2027.
Bitcoin miners are redirecting billions of dollars and scarce power capacity toward artificial intelligence as BTC's downturn pushes mining profitability close to historic lows. Data from CryptoSlate shows Bitcoin trading around $64,000, nearly 50% below its October peak, while elevated network competition and weak transaction fees continue to squeeze miner revenue.
Bitcoin rebounded above $64,000 after briefly falling below $62,800, recovering from a $3,000 decline triggered before the closely watched FOMC meeting. XRP, ADA, Ether, UNI and other large-cap tokens posted gains, although NEAR, LTC and ZEC remained under pressure during the broader market recovery. BEAT surged 35% and PI gained 5.
Bitcoin price recovered 2.8% from an intraday low of $62,850 to around $64,650 on July 29 as traders positioned for the Federal Reserve's interest rate decision. Bitcoin price recovers before the Fed decision According to data from crypto.