⚠️ EU vs. Musk: Commission Warns Elon Over Trump Interview (1)

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CoinGape Media
August 14, 2024

News

In its 13F filings, baking giant Goldman Sachs shows all the traded Bitcoin ETFs during Q2 as institutional interest in the asset class grows

Banking giant Goldman Sachs submitted the 13F filing disclosing its portfolio positions during the second quarter of Q2. As per the SEC filing, the banking giant has exposure to seven different Bitcoin ETFs available in the US market.

Judge Torres latest decision sets precedent for Coinbase and other lawsuits. It also provided Ripple Test for crypto industry.

Ripple Vs SEC: The long-running lawsuit between crypto leader Ripple and the U.S. Securities and Exchange Commission nears an end as the court ordered Ripple Labs to pay a $125 million civil penalty. The penalty imposed being significantly less than the $2 billion sought by the government agency could turn the tables in favor of crypto companies in legal battles due to “Ripple Test” for crypto industry.

After depositing $2 billion in BTC to BitGo, crypto exchange Mt. Gox has moved another 33K BTC to a new address and some to OKX exchange.

A day after the Mt. Gox wallet moved a staggering $2 billion worth of Bitcoins, a similar move was visible earlier today to the crypto exchange OKX. As per the on-chain data, a Mt. Gox address transferred 33,100 Bitcoins in total during the last 24 hours. This development puts investors on the edge of their seats hinting at chances of another BTC sell-off coming ahead.

Markets

Crypto prices today see bullish movement amid talks of a potential Fed rate cut looming over the horizon. BTC & Altcoins trade in the green amid stablecoin inflows.

The crypto prices today have carried an unprecedented bullish movement, igniting investor enthusiasm globally. Bitcoin’s (BTC) price reattained the $61K mark amid Fed’s rate cut expectations. Meanwhile, Ethereum (ETH), Solana (SOL), and XRP traded in the green territory, in line with the broader market trend.

The global crypto market cap was up 1.71% to $2.13 trillion today. However, the total market volume saw a 20.56% decline in value to $65.19 billion.

Here’s a brief overview of some leading cryptocurrencies by market cap and their price action today, August 14.

Crypto market sees strong comeback after recent recovery rally. Bitcoin price is also well-positioned for short-term uptrend, but these three

Since the August 5 local bottom, multiple data points suggest accumulation from institutions and whales. Over the past week alone, the crypto market capitalization has shot up from close to $2.0 trillion to $2.2 trillion, indicating a strong comeback from Bitcoin (BTC) and altcoins.

From a short-term market structure perspective, Bitcoin price is well-positioned to continue its uptrend. From a mid-to-long-term outlook, however, the bias gets a bit more complicated due to the upcoming events that could sway the crypto markets in any direction.

The annual US CPI inflation eases to 2.9%, down from 3% last month. Bitcoin price gains momentum as it increase odds of rate cuts by US Fed.

Bitcoin price saw upside momentum as U.S. consumer price index (CPI) inflation cools further to 2.9%, as per the latest the U.S. Bureau of Labor Statistics. After the PPI inflation reduced more than expected, the slowing CPI print will allow the U.S. Federal Reserve to start easing its monetary policy.

US stock futures were flat for Dow Jones, S&P 500 and Nasdaq Composite on Wednesday as investors look for cues on moderate price increases. Crypto traders turned bullish even before the CPI release due to buy-the-dip calls ahead of high anticipation for the Fed rate cuts starting in September.