Analysis

The GBP/USD pair trades with a positive bias around mid-1.3100s during the Asian session on Thursday, albeit it lacks strong follow-through buying and remains below the weekly top touched the previous day.

As September opens, Bitcoin confronts a pivotal moment with significant challenges looming. The cryptocurrency concluded August at $58,975, marking an 8.75% drop for the month—its sharpest decline in six months.

Arthur Hayes has issued a stark warning for Bitcoin investors, suggesting that the cryptocurrency could fall to $50,000 in a worst-case scenario.

After briefly trading above $59,000 in the early hours of Tuesday, Bitcoin price has now seen a significant retracement, dropping below the $58,000 price mark once again.

Amid ongoing volatility for the Bitcoin price, which has struggled to reclaim its all-time high of $73,700, bullish predictions continue to emerge for the leading cryptocurrency.

Bitcoin traders are upbeat, expecting prices to shake off recent weakness and soar above the local resistances to as high as $73,800.

Contrary to what investors may have hoped, Bitcoin hasn’t appeared to have shaken off bearish winds as the asset has witnessed another setback over the weekend. In this latest plunge, BTC hit $57,100 at its lowest, a level that hadn’t been seen since mid-August.

August marked the worst month in revenues for Bitcoin miners this year and since September 2023. They mined a total of $827.56 million last month following a trend of reducing mining rewards since April’s halving event that reduced block rewards to 3.125 BTC.

Data shows that the Paper Bitcoin inventory on exchanges has been on a decline recently.

Bitcoin price extended losses below the $58,500 support zone. BTC is struggling and could continue to move down toward the $55,000 support zone.

Bankrupt crypto miner Rhodium received court approval for an unusual debtor-in-possession financing plan on Friday that offers options to borrow in either US dollars or Bitcoin.

Bitcoin’s price fell slightly on Thursday amid caution over an upcoming U.S. inflation reading that is likely to factor into the outlook for interest rates cuts.

In a breakdown of Bitcoin’s current market dynamics, prominent crypto analyst Dan Gambardello, in his latest video titled “Bitcoin Must Do This Now,”

Bitcoin is under pressure and struggling to peel back losses from early this week. Even with prices stabilizing in the last day, the path of least resistance is southwards for now.

On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery.

Bitcoin price action despite being wobbly in the past days, is still being discussed by analysts.

The transformation of former US President Donald Trump from a Bitcoin skeptic to an advocate has stunned both political and financial communities.

Bitcoin’s price fell on Tuesday, losing ground after a weekend rally as concerns over worsening geopolitical tensions across the globe dented risk sentimen

Bitcoin’s price fell slightly on Monday as a weekend rebound ran out of steam, although growing optimism over interest rate cuts kept the cryptocurrency tr

Bitcoin price moved little on Friday as markets turned cautious before more cues on U.S. interest rates from an address by Federal Reserve Chair Jerome Pow