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Cryptocurrency costs were firmly in the red following the Federal Reserve’s resolution on Wednesday to leave interest rates unchanged. Chair Jerome Powell’s cautious comments about the option of a rate cut in September were compounded by escalating tensions in the Middle East. Iranian leaders have ordered retaliation against Israel for killing Hamas leader Ismail Haniyeh in Tehran, which would have possibly also spooked investors and traders. Bitcoin traded at around $64,500 in the European morning, down about 2. 5% from 24 hours ago. The broader virtual asset market has fallen by approximately 4. 24%. , as measured by the CoinDesk 20 Index (CD20).
Bitcoin miner Riot Platforms’ second-quarter loss tripled to more than $84 million, or $0. 32 per share. Selling, general and administrative expenses were $61. 2 million, more of which were stock-based payment expenses similar to new awards under a long-term incentive program. The net loss for the quarter also included a $76. 4 million decrease in the fair price of the Bitcoin it holds. The Bitcoin halving in April, which reduces the praise miners receive for adding new blocks to the blockchain by 50%. reduced the number of Bitcoin riots produced in the quarter. The company mined 844 BTC, which is 52% less than last year.
Ripple will allocate $10 million to a tokenized edition of U. S. Treasuries. The U. S. Treasury bills will be available for the first time on the XRP Ledger. U. S. government debt Short-term U. S. tokens are issued as TBILL tokens through the OpenEden tokenization platform. The assets backing the tokens will be invested in U. S. Treasuries. Short-term U. S. and opposing repurchase agreements subsidized through U. S. TreasuriesUU. La tokenization of real-world tangible assets and classic monetary values is a developing sector of the cryptocurrency industry. It allows for classic assets, especially personal and chosen assets, to be issued, managed, and distributed in a way that is considered more effective than their off-chain counterparts.
The chart shows the maximum active characteristics of Bitcoin on Deribit in the last 24 hours.
Traders are reviewing buy functions at the $100,000 strike value that expires in September and December, indicating a bullish outlook.
Bitcoin failed to break above $70,000 on Monday and has since returned below $64,500.
Source: Velo Data
-Omkar Godbole
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