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CoinDesk’s Sept. 3 market outlook says foreign exchange markets no longer interpret bond yields conventionally and suggests Bitcoin may warrant a similar analytical approach. No specific yields, currency pairs, BTC price or forecast were provided.
A stronger yen is contributing to broad U.S. dollar weakness and a lower Dollar Index, a backdrop that is currently supporting bitcoin and gold, CoinDesk reports.
Bitcoin moved above $79,000 as interest rates fell and the dollar weakened. CoinDesk said markets are now focused on next week’s inflation data, which could be more important than tomorrow’s employment report for Fed policy.
Bitcoin rose above $81,000 as rates declined and the dollar weakened. CoinDesk said next week’s inflation data, rather than tomorrow’s employment report, will be key to expectations for Federal Reserve policy.
Standard Chartered has launched institutional spot trading for Bitcoin and Ether in the UAE, Cointelegraph reports. The bank said it is the first major global bank to provide this access in the region.
Bitcoin is nearing a golden cross, but the technical signal has a mixed record in crypto markets. CoinDesk reports that support from Tether’s USDT could make the current bullish setup more meaningful.
Hyperscale Data has ended Bitcoin mining in Michigan and is redirecting capital to its AI data center. Its Bitcoin holdings have fallen about 79% since late July to 215 BTC, Cointelegraph reported.
Bitcoin rose back above $77,500 as XRP led major tokens. All major cryptocurrencies gained over 24 hours, while only zcash and hyperliquid remained higher on the week. Fed hike odds fell to 62%.
SEC Chair Paul Atkins expects the Clarity Act to pass this month, Bitcoin Magazine reports. The projection comes despite a delayed vote as the SEC continues advancing its cryptocurrency regulatory agenda.
Cornell University surveyed 25,880 people about Bitcoin use. Bitcoin Magazine reports that, despite limited technical understanding among many users, the asset is proving useful for some when traditional banking services fail.
