Bitcoin Reaches $64,000: A Milestone for the Crypto Community
The Bitcoin Archive account on Twitter excitedly reported that Bitcoin has smashed through the $64,000 mark. This achievement is a significant milestone for the cryptocurrency community and highlights growing interest in digital assets. Additionally, economic discussions around unemployment and its impact on low-wage work were also mentioned by @NorthmanTrader.
In another series of tweets, Hoss (@hoss_crypto) commented on various market behaviors and offered advice to fellow traders. He suggested raising stop-loss levels and taking profits while observing market trends.
Bitcoin Poised for New Highs: Attack on $70,000?
According to FinanzNachrichten.de, Bitcoin shows bullish tendencies following Jay Powell's speech at the Jackson Hole symposium. The recent breakthrough above the $64,000 level suggests an imminent attack on the $70,000 threshold could be underway.
Börse Online reports several factors contributing to this potential rise include decreased inflation rates in the U.S. and anticipated Fed rate cuts making risk assets like Bitcoin more attractive. Cointelegraph Deutschland adds that buying interest surged after Jerome Powell announced rate cuts with Coinbase Premium Index hitting a 39-day high.
Kraken's Legal Battle Against SEC Charges
Bloomberg Crypto informs us that Kraken is currently fighting a lawsuit filed by the SEC accusing it of operating an unregistered securities exchange. Despite high expectations surrounding Ether ETFs in America, they have so far garnered little interest according to Bloomberg Crypto’s report.
RFK Jr Supports Trump Amid Political Shifts
A surprising political development was reported by Radar Hits as RFK Jr officially endorses Donald Trump for upcoming elections—a notable shift within America's political landscape.
The Stock-to-Flow Model Explained by PlanB
@100trillionUSD (PlanB) elaborates his model predicting Bitcoin value based on the stock-to-flow ratio (S2F). This S2F model attempts to explain price patterns through halvings—events where rewards for mining new Bitcoins are halved over time.
Sources:
