Bitcoin market sentiment has risen above 89 on an index tracked by CryptoQuant analyst Darkfost, reaching its highest level since March 2024 before easing back. CryptoQuant analyst Darkfost said the last comparable burst of bullish sentiment came in March 2024.…
Bitcoin’s path higher just got harder in the short term, but the setup further out may be improving, according to a new report.
In a Friday note, European asset manager CoinShares’ Head of Research, James Butterfill, said firmer-than-expected core inflation raises the odds of tighter Fed policy and could cap bitcoin below $80,000 for now.
But the longer-term case, he argued, rests on the U.S. Treasury’s bond buyback programme failing to bring down long-end yields — a failure that could ultimately feed the debasement narrative that has supported both bitcoin and gold.
“The result is therefore a somewhat unusual policy mix for Bitcoin,” the report read. “Today’s CPI data is negative at the margin, increasing the probability of tighter monetary policy and potentially limiting the immediate upside.
“But the apparent failure of the Treasury’s current buying programme increases the likelihood of much more substantial intervention further ahead.”
It continued: “If that happens, it could become one of the more powerful medium-term catalysts for Bitcoin.”
Data on Friday revealed that the consumer price index, excluding food and energy, climbed 0.3% in August from a month earlier — higher than expected.
According to CME’s FedWatch tool, traders think there is a 85% chance interest rates will be higher after the Federal Reserve meets next week. Bitcoin has typically performed well in a low interest rate environment.
But the U.S. Treasury’s expanded bond buyback programme has so far failed to materially suppress long-term yields.
If yields stay stubbornly high, Butterfill said, pressure will build on Treasury Secretary Scott Bessent to escalate to a much larger, “bazooka-style” buying programme aimed at forcing borrowing costs down.
Bitcoin in August had one of its best runs in years after Treasury Secretary Scott Bessent announced the department would double the size of its long-dated bond buybacks.
The announcement and subsequent price surge has led some to say the much talked-about debasement trade is back. The so-called debasement trade is when investors buy an asset as a way to hedge against a currency losing value.
Bitcoin and gold have both benefited as part of the trade as the dollar weakens.
Bitcoin Suisse has announced plans to cut up to 60 of its 120 positions in Switzerland and close its Copenhagen development site as part of an international reorganization. Bitcoin Suisse puts up to 60 Swiss jobs at risk Reuters reported…
Italy’s second largest bank is considering expanding into digital asset offerings, including custody, according to reports.
According to a Friday Bloomberg report citing people familiar with the matter, Milan-based UniCredit is selecting a technology provider that would allow it to build the infrastructure needed to hold digital assets and facilitate their buying and selling.
Bloomberg’s reporting added that tokenized investment products and fixed-income securities, the use of stablecoins and exposure to cryptocurrencies were all on the cards.
JUST IN: Italy’s 2nd-largest bank UniCredit is considering to offer crypto asset custody — Bloomberg pic.twitter.com/NAZKJBdcES
The news comes as other banks in Europe expand crypto offerings. Spain moved first on retail, with BBVA rolling out bitcoin trading and custody to all customers via its app, using its own custody infrastructure rather than a third party; Santander’s Openbank followed with its own trading service.
Cecabank — a Spanish custodian with over €400bn under management that acts as backbone for 100+ financial institutions — went live with crypto custody in June via a partnership with Bit2Me.
And in Germany, Deutsche Bank is building custody with Bitpanda’s technology arm, while Taurus and DZ Bank got BaFin approval in January for its meinKrypto platform.
New regulation in the European Union — Markets in Crypto-Assets Regulation (MiCA) — gives banks a legal definition, a supervisor, and a familiar set of obligations to launch crypto services.
UniCredit is one 37 lenders across 15 European countries working together to create a company called Qivalis with the aim of issuing a euro-denominated stablecoin.
Last year, the bank said it was offering professional clients a structured product tied to BlackRock’s iShares Bitcoin Trust exchange-traded fund, with full protection against losses.
Bitcoin’s price rose on Friday — despite data revealing that U.S. inflation had risen.
The biggest cryptocurrency by market cap was recently trading for close to $78,749 after jumping 2% over a 24-hour period. At one point on Friday morning in New York, bitcoin rose as high as $79,607.
Bitcoin’s price spike came after news dropped that U.S. consumer prices accelerated in August, reinforcing expectations that the Federal Reserve will raise interest rates next week.
The consumer price index, excluding food and energy, climbed 0.3% in August from a month earlier, which was higher than expected.
Inflation in the U.S. has been difficult to tame due to the war with Iran, which has lifted oil prices, in turn raising the costs of food, gasoline and other goods.
Higher inflation typically means the Federal Reserve will raise interest rates, which in turn could stop bitcoin’s price climbing higher.
According to CME’s FedWatch tool, traders think there is a 85% chance interest rates will be higher by next week. The Federal Reserve will meet next week and reveal what it will do with borrowing costs.
Bitcoin has typically performed well in a low interest rate environment because it means people can buy more of the cryptocurrency with increased liquidity.
Federal Reserve Chairman Kevin Warsh, who took the helm in January, last month gave his first speech as head of the U.S. central bank and said he had “more work to do” to fight inflation.
The U.S. is currently in the grips of an affordability crisis and rising oil prices are a hot topic ahead of the midterm elections.
U.S. President Donald Trump has reassured voters that prices will get under control and repeatedly put pressure on the central bank to lower interest rates.
Bitcoin in August had its biggest run in years following positive regulatory news and an announcement from the U.S. Treasury.
Treasury Secretary Scott Bessent announced the department would double the size of its long-dated bond buybacks, helping non-yielding assets like bitcoin and gold. The cryptocurrency then benefited from President Trump urging lawmakers to get key crypto legislation, the Clarity Act, over the line.
Bitcoin has rebounded above $78,000 after U.S. consumer inflation met forecasts in August, although prediction-market traders have raised the chance of a Federal Reserve rate hike to 81%. US CPI has held at 3.4% in August The U.S. Bureau of…
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Bitcoin price extended its pullback toward $77,000 as rising oil prices, stubborn US inflation and higher Treasury yields reduced demand for risk assets. Technical charts now place BTC near a major weekly support level, while short-term momentum remains bearish. Bitcoin…
Everyone is reporting a tax rise. Do the arithmetic and Germany is cutting the top rate for active traders by nineteen points, from 45% to 26.375%. The people getting hit are the ones who buy and sit on it, which until now was the whole point of holding crypto in Germany.
The man behind one of the biggest bitcoin thefts in history this week pleaded guilty.
Malone Lam, 22, a Miami resident from Singapore, on Tuesday admitted his role as ringleader of the international crime group which stole 4,100 bitcoins — worth over $230 million at the time — to fund a life of luxury.
The U.S. Department of Justice said that from October 2023 and through at least May 2025, Lam and others hacked databases to steal crypto users’ information and con them into providing user logins and private keys. Bitcoin and other cryptocurrencies worth $245 million were taken in the theft.
On one occasion, a co-defendant broke into a residence in New Mexico and stole a hardware wallet while Lam monitored the victim’s movements by hacking their iCloud account.
“This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency,” U.S. Attorney Jeanine Ferris Pirro said in a statement.
“If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable,” Attorney Pirro added.
The DOJ said: “The Racketeer Influenced and Corrupt Organizations Act conspiracy used social engineering and occasional home break-ins to obtain information that allowed the conspirators to drain their victims’ cryptocurrency wallets.”
The crimes started after a group of online gamers became friends before working together to commit the cybercrimes, the indictment read.
Lam and co-defendants laundered the stolen bitcoin and spent it on bottle service parties, private jet rentals, security guards, luxury handbags and watches, and properties in Los Angeles, the Hamptons, and Miami.
The defendants would spend up to $500,000 a night on parties and give away designer handbags worth tens of thousands of dollars, Tuesday’s announcement read.
Lam was arrested in 2024 at his rental home in Miami.
Liquid Network has resumed block production without processing transactions after a $320 million Bitcoin withdrawal forced the sidechain to halt operations. Liquid Network said in a Thursday update that its functionary nodes were again producing blocks as intended, but the…
Trezor has warned that a data breach at the third-party marketing platform it uses for sending newsletters is leading criminals to target customers with phishing attacks.
The top hardware wallet manufacturer said Wednesday that an unauthorized actor got access to Brevo’s system and sent emails to 347,000 Trezor customers. Brevo is a platform businesses use to send customer communications.
Scammers managed to use Trezor’s domain name to send the email, making the phishing attempt all the more believable. The email contained a malicious link asking users to download an app and enter their wallet backup.
Our third-party e-mail provider has been breached. Please be aware that the email named ‘Critical Security Alert: STM32 Entropy Vulnerability’ is not coming from us, and it’s a phishing attempt. Do not click on any link.
We have taken down the domain, and we are investigating…
The news comes after Trezor last month announced that data from 11,742 customers had been exposed after its third-party fulfillment partner, ShipMonk, was targeted.
It then said last week that an additional 67,000 U.S. customers had their names, emails, phone numbers, shipping addresses and order numbers leaked in the breach.
“We took down the domain at the DNS level within 20 minutes, preventing the link from working for anyone else and limiting access to 2,500 people who had clicked it before we took it down,” Trezor said on Wednesday.
“These addresses might be potentially used for other phishing attacks in the future. No other Trezor system was touched,” Trezor added.
“We have suspended the Brevo account to stop further email distribution.”
Trezor reminded users that it never asks customers to ask for their wallet backups.
Criminals have been targeting data this year, with scammers getting hold of customer information via crypto wallet Ledger’s payment processor Global-e to send phishing emails.
Crypto wallet provider SafePal last month also announced a data breach that involved unauthorized access to about 39,798 customers’ order information, including personal details such as names, addresses and purchase data.
Rootstock co-founder Sergio Lerner has called for Bitcoin bridges to adopt mandatory withdrawal delays after about 4,000 BTC left Liquid Network’s federation wallet through an unauthorized peg-out. Sergio Lerner, chief scientist and co-founder of RootstockLabs, told crypto.news that immediate settlement…
Bitcoin’s price slid on Thursday after the price of oil shot over $105 a barrel thanks to renewed tensions in the Middle East.
The biggest and oldest cryptocurrency was recently trading for $77,208 after sliding as low as $76,748 — down more than 2% over the past day.
Its dip came after Iran signaled that it had no intention of backing down against U.S. forces. The two countries earlier this week stepped up attacks in some of the heaviest fighting since the war started in February.
Tehran-backed Houthis in Yemen this week hit Saudi Arabian assets, also pushing the price of oil up.
War in the Middle East pushes oil prices higher and makes the chances of interest rate cuts lower because of inflation. Bitcoin has typically performed well in a low interest rate environment and has experienced sell-offs when the Federal Reserve pivots to hawkishness.
The U.S. is currently in the grips of an affordability crisis and rising oil prices are a hot topic ahead of the midterm elections. U.S. President Donald Trump has reassured voters that prices will get under control.
Federal Reserve Chair Kevin Warsh said at his first speech as leader of the central bank and said that inflation in the world’s largest economy had not come down enough.
Traders are now pricing in an interest rate hike next week when the bank meets.
Still, bitcoin had one of its best runs in August after the U.S. Treasury said it would at least double the size of its liquidity-support buyback operations, in response to surging borrowing costs.
The announcement hurt the dollar but non-yielding assets like bitcoin and gold have benefited.
Despite previously trading in line with risk-on assets like tech stocks, bitcoin has this year traded more in tandem with gold as the so-called debasement trade becomes hot again.
Investors have bought the largest cryptocurrency — along with the precious metal — to hedge against the dollar’s decline.
Coinbase CEO Brian Armstrong has said that bitcoin’s bottom is in and reiterated that the coin will hit $400,000 by 2030.
Speaking on CNBC Thursday, the head of America’s biggest crypto exchange said that he was confident the long-awaited crypto Clarity Act would pass next week.
Bitcoin was trading sluggishly throughout June and July but started surging in August, spurred on by positive regulatory news. Over a 30-day period, the largest cryptocurrency is currently up over 20%.
JUST IN: Coinbase CEO Brian Armstrong tells CNBC the Bitcoin "bottom is in" and BTC hitting $400,000 by 2030 is a "reasonable target" pic.twitter.com/RYfipYCNDk
“[$400,000] is a reasonable target by 2030, and if you follow crypto, you know it typically goes through these four-year-ish cycles: there’ll be a run-up, some euphoria, there’ll be a down period,” Armstrong said.
“Most of the down periods last about a year, and we’ve actually just come across the one-year mark for this down period, so I personally believe that the bottom is in.”
Bitcoin was recently trading for close to $77,318 per coin. It hit a new all-time high of $126,080 in October.
Market observers have been paying attention to the long-awaited Clarity Act this year. The bill drafts a framework to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities or stablecoins. The crypto industry has long called for such rules to be in place.
Senators will vote on the long-awaited legislation next week after an August delay.
U.S. President Trump helped spur a surge in the bitcoin price when he hosted crypto executives and traditional finance bigwigs at the White House and urged lawmakers to move forward with the bill.
Armstrong said on Thursday that he was confident the bill would get through — and help unlock new capital as a result.
“We saw with the Genius Act that passed last year for stablecoins: in the wake of that legislation passing, we saw well over 150 large companies integrate stablecoins within just a three-month period,” he said.
“And I think something similar could happen with the Clarity Act passing — it’s a regulatory checkbox, it’d be a big milestone certainly to unlock institutional capital and to bring things like tokenized equities and perks to the United States, which would be very good.”
Bitcoin price fell below $78,000 on Sept. 10 as hotter U.S. producer inflation, ETF outflows and weakening technical indicators weighed on demand ahead of the Federal Reserve’s September meeting. Bitcoin price falls toward its lower Bollinger Band According to data…
Bitcoin price extended its decline below $78,000 on Sept. 10 as fading momentum, elevated Treasury yields and caution before U.S. inflation data kept buyers on the sidelines. Bitcoin price falls below $78,000 According to data from crypto.news, Bitcoin (BTC) price…
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