Welcome to another roundup of today’s latest Bitcoin news! Fasten your seatbelts, crypto enthusiasts, because today we’re going to dive into some interesting updates that could shape the future of Bitcoin and the cryptocurrency market at large.
First up, we have a fascinating prediction from a cryptocurrency analyst, Matthew Hyland, who suggests that the price of Bitcoin may swing “dramatically” as we approach the next election year. Drawing parallels to previous election cycles, he notes that August could be relatively quiet, but hints at a potential breakout in the months ahead. You can check out the full details in the article titled Bitcoin price of $59,000 could swing ‘dramatically’ amid election-year parallels on Cointelegraph.
In other news, investment advisors are showing increased interest in Bitcoin spot ETFs, according to a recent report from Coinbase. While hedge fund holdings have declined slightly, the overall trend indicates a growing appetite for these financial products as advisors increase their investments. This shift is likely to continue as more brokerages finalize their due diligence on these funds. For more information, check out the article Advisors’ holdings in Bitcoin ETFs rise, hedge fund stakes fall – Coinbase.
Meanwhile, the housing market in the United States is undergoing significant changes, with mortgage rates hitting new lows. This could have implications for Bitcoin holders looking to invest in real estate. As of August 8, the average 30-year fixed-rate mortgage fell to 6.47%, providing some relief to potential homebuyers. The article US mortgages hit new lows: Here’s the house you can get for your bitcoin CryptoPotato breaks down how much Bitcoin you would need to buy the average home today.
Speaking of Bitcoin, a recent financial disclosure revealed that former President Donald Trump has millions invested in cryptocurrencies, though not in Bitcoin directly. His portfolio consists primarily of Ethereum and some lesser-known tokens. Information about Trump’s cryptocurrency holdings can be found in the article Is Trump really a Bitcoiner? Here are the cryptocurrencies he actually owns on CryptoPotato.
On the market front, the broader cryptocurrency market has taken a hit, losing around $70 billion in market capitalization last week. The price of Bitcoin fell below $59,000, leading to significant liquidations in derivatives positions. However, amid this downturn, banking giants such as Goldman Sachs and Morgan Stanley have revealed their exposure to Bitcoin, managing substantial investments in Bitcoin ETFs. For a full rundown of the week’s market moves, check out Banking giants reveal Bitcoin exposure but crypto markets plummet: This week’s roundup on CryptoPotato.
Finally, the latest report from NewsBTC highlights that US Bitcoin ETFs saw $2.4 billion in inflows during the second quarter, demonstrating strong institutional interest despite market volatility. This report can be found in the article Wall Street titans increase their crypto holdings: US Bitcoin ETFs see $2.4 billion in inflows in Q2.
That’s all for today! Stay tuned for more updates as we continue to track the latest news on Bitcoin and the ever-evolving cryptocurrency landscape!
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