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AI & Enterprise

Bitcoin surges nearly 25 percent in August, but watch for historically weak September

Bitcoin rose nearly 25 percent in August and climbed above its 50-month moving average for the first time since last year’s crypto winter began. It traded around $77,500 on Sept. 1, down about 1.3 percent on the day. Markets are watching seasonal September weakness, interest-rate risks and resistance near $82,500. Technical indicators are mixed, and long-term trend confirmation remains limited despite improving flows and regulatory developments.

Crypto

BitMine buys 32,447 more Ethereum, holds 4.8% of ETH supply

BitMine Immersion Technologies bought an additional 32,447 Ether worth $81 million last week, taking its total holdings to 5,847,611 as of Aug. 23, valued at $15 billion. The company said it holds about 4.8 percent of Ethereum’s total supply and needs about 187,000 more Ether to reach its self-set 5 percent target. It has staked 87 percent of its holdings and expects $330 million in annual staking income.

Crypto

Bitcoin hits highest since June as prediction markets pull back on bearish bets

Bitcoin climbed to the $69,000 range, up 9%, its highest level since June. The move narrowed the gap in prediction markets where bearish expectations had led a day earlier. Decrypt linked the rally to macro factors and large-scale short liquidations. The U.S. Treasury plans to double long-term bond buybacks per operation from $2 billion to $4 billion starting Sept. 9, weighing on long yields and the dollar and reviving risk appetite.