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Crypto

Bitcoin could signal bottom if August closes above $63,000

Bitcoin could confirm a bearish-market bottom if it ends August with a monthly close above $63,000, according to an analysis cited by Cointelegraph. 10x Research said holding that level could signal a technical reversal and said some of its cycle indicators could turn bullish. It expects the Federal Reserve to keep rates unchanged but warned higher U.S. 10-year yields could raise the chance of a September hike. It also flagged selling pressure from miners.

Crypto

Ark Invest buys another 220,000 shares of Circle, bets more despite slowing USDC activity

Ark Invest, led by Cathie Wood, bought an additional 220,000 shares of Circle Internet Group through three actively managed exchange-traded funds, Cointelegraph reported. The purchase was worth about $13.9 million based on Circle’s NYSE closing price of $63.22. Ark’s total July purchases rose to 725,517 shares. Circle shares are down about 22 percent this year and about 76 percent from post-IPO highs. 10x Research cited slowing USDC activity as a risk.

Crypto

BlackRock\'s BITA draws mixed reviews: high yield but limited upside

BlackRock listed BITA, a Bitcoin income ETF, on the Nasdaq, combining spot Bitcoin exposure with monthly cash distributions funded by option premiums. The fund holds spot Bitcoin and shares of iShares Bitcoin Trust (IBIT), selling covered calls on IBIT to generate income. Analysts and market participants debated whether the strategy can replace holding Bitcoin, citing higher fees, capped upside during sharp rallies and no downside protection during declines.