August — Week #4

🤑 Markets

1. Bitcoin Drops as Traders Take Profits: Bitcoin's price fell below $63,000 due to profit-taking, marking a 1.4% drop in 24 hours, with Ethereum and other altcoins also experiencing significant declines. Despite the current consolidation phase, some traders and analysts believe that Bitcoin is poised for a potential parabolic rally, citing historical patterns and low-volatility phases that have preceded significant price increases.
2. BlackRock's Bitcoin ETF sees highest inflow in over a month: BlackRock's spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), saw its largest single-day inflow in over a month on Monday, taking in $224 million amid a slight Bitcoin price pullback. This significant capital injection highlights continued strong demand for IBIT, which has cemented its position as the dominant spot Bitcoin ETF with over $20 billion in net inflows and over 350,000 bitcoins worth nearly $22 billion.
3. Bitcoin ETF Inflows Accelerate Breakout Near: Bitcoin is poised for a potential breakout as significant inflows into U.S. Bitcoin spot ETFs, led by BlackRock's IBIT, have accelerated, with analysts predicting a possible surge above $70,000. The cryptocurrency's price is currently trading around $62,900, below a key support level, and the Federal Reserve's hint at potential interest rate cuts in September adds to the market dynamics.
4. Xapo to manage $200M Bitcoin hedge fund: Crypto Bank Xapo is set to manage a $200 million Bitcoin-denominated hedge fund in partnership with Hilbert Capital, with the fund launching in September and available to corporates, businesses, and professional investors. This fund marks a significant development in the Bitcoin investment space, offering a new opportunity for institutional investors to engage with the cryptocurrency.

🌈 Adoption

1. Lightspark Introduces Instant Bitcoin Payments: Lightspark has introduced Lightspark Extend, a new solution that allows U.S. businesses to offer instant Bitcoin Lightning payments to eligible account holders, providing a compliant and cost-effective solution for 24/7 transactions. This new feature integrates with Universal Money Addresses (UMA) and Lightning-enabled wallets, exchanges, or bank accounts, making it accessible to over 99% of U.S. banks that accept real-time payments.
2. Thailand's Bitcoin Journey Unfolds: The piece "An Untold Story of Bitcoin in Thailand" by Win Ko Ko Aung tells the story of Didier Somnuke, a Thai Bitcoiner, and his journey with Bitcoin in Thailand. Somnuke's shares his experiences and the broader implications of Bitcoin adoption in Thailand, providing an in-depth look at the cultural aspects of Bitcoin in the country.

📅 Bitcoin Events Coming Up

Korea Blockchain Week

🗓️ When: September 1-7, 2024
📍 Where: Seoul, South Korea
Korea Blockchain Week is a comprehensive event that covers various aspects of blockchain technology, including Bitcoin. The event will feature keynotes, panels, workshops, and networking opportunities, focusing on the latest developments and trends in the blockchain and cryptocurrency space.

Chain Conference Istanbul 2024

🗓️ When: September 14-15, 2024
📍 Where: Istanbul, Turkey
Chain Conference Istanbul 2024 is a comprehensive event that covers various aspects of blockchain technology, including Bitcoin. The event will feature keynotes, panels, workshops, and networking opportunities, focusing on the latest developments and trends in the blockchain and cryptocurrency space.

TOKEN2049

🗓️ When: September 18-19, 2024
📍 Where: Singapore
TOKEN2049 is a prominent Bitcoin event in Asia, focusing on the technical, economic, and social aspects of Bitcoin. The conference will include presentations, discussions, and networking opportunities, covering topics such as Bitcoin protocol development, mining, and the broader ecosystem.

European Blockchain Convention

🗓️ When: September 25-26, 2024
📍 Where: Barcelona, Spain
The European Blockchain Convention is a comprehensive event that covers various aspects of blockchain technology, including Bitcoin. The event will feature keynotes, panels, workshops, and networking opportunities, focusing on the latest developments and trends in the blockchain and cryptocurrency space.

Messari Mainnet

🗓️ When: September 30 to October 2, 2024
📍 Where: New York, USA
Mainnet is a prominent Bitcoin event in the United States, focusing on the technical, economic, and social aspects of Bitcoin. The conference will include presentations, discussions, and networking opportunities, covering topics such as Bitcoin protocol development, mining, and the broader ecosystem.

🤔🤔 Wanna learn more? Check out the BLOCKTALK!