Bitcoin has just delivered its first positive August during a bear market.
BTC gained 25.1% over the month, climbing from $62,794 to $78,545. It was Bitcoin’s third-best August on record, with the price surging as much as 30% from its monthly low to high. The fuel behind the rally? A brutal short squeeze. Between August 17 and 21, traders suffered $5.8 billion in liquidations. August 19 alone accounted for $2.7 billion in short liquidations—the largest single-day short wipeout on record. Total liquidations for the month reached $12.65 billion. But history now offers a warning: whenever Bitcoin has closed both July and August in positive territory, September has finished in the red. Momentum is powerful. Seasonality says caution. September could be the real test. Source: Bull Theory
Strategy has started buying bitcoin again after a summer spent selling it.
The Bitcoin treasury company picked up 4,603 BTC for $369.7 million in the week to August 30, at an average of $80,318 apiece, according to a filing with the Securities and Exchange Commission. That takes its stack to 845,050 BTC, bought for $63.73 billion at an average of $75,412. It paid for the purchase by issuing stock. Strategy sold 4,531,421 MSTR shares through its at-the-market programme over the same week, raising $602.8 million net of commissions. Bitcoin took $369.7 million of that, STRC buybacks $151.8 million, dividends on the same preferred stock $50.7 million, and $30 million went into its USD Cash account. This is the biggest purchase since May 18th. Strategy sold 6,948 BTC for roughly $432.5 million between May and August, working out at about $62,250 a coin. It has now bought back at $80,318, roughly 29% higher, leaving it 2,345 BTC lighter than before the selling started, with about $63 million of the difference retained in cash... Source: zerohedge
Abu Dhabi royal group acquires 49% stake in Trump-backed crypto bank
Sheikh Tahnoon bin Zayed al Nahyan and co-investors reportedly hold a 49% stake in the holding company behind World Liberty Financial’s proposed U.S. trust bank, per WSJ. The proposed bank received preliminary approval from the Trump administration this month, bringing the Trump-backed crypto venture closer to launching its own U.S. banking operation. World Liberty Financial will run its USD1 stablecoin. This follows his previously undisclosed $500M investment in World Liberty, $263M of which went to Trump family entities. Source: WSJ
This is very Unusual.
We saw crazy decoupling this week with crypto and stocks going in completely opposite directions. Total Crypto market cap is up +13% after adding $291 billion. Meanwhile US stocks erased -$1.4 Trillion in the same period with S&P 500 falling -1.83%. Source: Bull Theory
$BTC exploded today after Bessent-Bailout as it broke back above its 200DMA...
Source: zerohedge
The largest short liquidation in crypto history just happened.
Short sellers lost $3 billion in a single day. Bitcoin hit $71,000, up +11.50%, and $236 billion was added to the crypto market. Here is the full move: Source: Bull Theory
If you ever doubted how big a deal stablecoins were regarding lowering shorterm borrowing costs, this is for you. Since Stablecoin Act, issuance strongly negatively correlates with yields.
Now, market cap is shrinking & yields are on the rise. Coincidence? Source: Tidal Macro
Lyn Alden's 'ORANGE JUICE' Raises $40 million to launch a permanent capital holding company backed by a BTC treasury
"It’s a company that acquires, improves, and permanently holds cash-flowing businesses, backed by a bitcoin treasury" - Lyn Alden Source: Bitcoin Magazine
