Welcome back to another roundup of the latest bitcoin news today! Buckle up, crypto enthusiasts, because today we’re diving into some intriguing updates that could shape the future of Bitcoin and the broader cryptocurrency market.
First up, we have a fascinating prediction from a crypto analyst, Matthew Hyland, who suggests that Bitcoin’s price may swing ‘drastically’ as we head into the upcoming election year. Drawing parallels with previous election cycles, he notes that August might be relatively quiet but hints at a potential breakout in the months to follow. You can check out the full details in the article titled Bitcoin $59K price may swing ‘drastically’ amid election year parallels on Cointelegraph.
In other news, investment advisors are showing increased interest in spot Bitcoin ETFs, according to a recent report from Coinbase. While hedge fund stakes have dipped slightly, the overall trend indicates a growing appetite for these financial products as advisors ramp up their investments. This shift is likely to continue as more brokerage houses finalize their due diligence on these funds. For more insights, check out the article Advisor holdings in Bitcoin ETFs rise, hedge fund stakes dip — Coinbase.
Meanwhile, the housing market in the U.S. is experiencing 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 How Much House You Can Get for Your Bitcoin on CryptoPotato breaks down how much Bitcoin you would need to purchase an average home today.
Speaking of Bitcoin, a recent financial disclosure revealed that former President Donald Trump has millions invested in cryptocurrency, albeit not in Bitcoin directly. His portfolio primarily consists of Ethereum and some lesser-known tokens. The insights into Trump’s crypto holdings can be found in the article Is Trump Really A Bitcoiner? Here’s What Crypto He Actually Owns on CryptoPotato.
On the market front, the broader cryptocurrency market has taken a hit, losing around $70 billion in capitalization in the past week. Bitcoin’s price fell below $59,000, leading to significant liquidations in derivatives positions. However, amidst this downturn, banking giants like Goldman Sachs and Morgan Stanley have disclosed their Bitcoin exposure, managing substantial investments in Bitcoin ETFs. For a complete recap of the week’s market movements, check out Banking Giants Disclose Bitcoin Exposure but Crypto Markets Tank: This Week’s Recap on CryptoPotato.
And lastly, the latest report from NewsBTC highlights that U.S. Bitcoin ETFs garnered $2.4 billion in inflows during the second quarter, showcasing strong institutional interest despite the market’s volatility. This report can be found in the article Wall Street Titans Boost Crypto Stakes: US Bitcoin ETFs Garner $2.4B In Q2 Inflows.
That wraps up today’s news! Stay tuned for more updates as we continue to track the latest bitcoin news today and the ever-evolving crypto landscape!
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