Bitcoin slid to $117,400 after hotter-than-expected US PPI data dampened Fed rate cut hopes, sparking inflation fears and weighing on crypto and stocks.
The Bitcoin miner’s pivot into AI infrastructure hosting includes a decade-long colocation agreement with Fluidstack, backed by Alphabet’s Google.
Block’s Proto Rig and Proto Fleet aim to reduce upgrade costs and extend rig lifespans, giving miners a potential edge in a capital-intensive, increasingly AI-integrated industry.
Nakamoto, a Bitcoin entity established by Trump crypto adviser David Bailey, and KindlyMD have merged to establish a new Bitcoin treasury company.
A crypto trader said Bitcoin is at a “key resistance,” similar to the level where it topped in 2021, but other traders argued historical charts can’t be applied to this cycle.
US Treasury Secretary Scott Bessent clarified that the department was exploring budget-neutral ways to buy Bitcoin, contradicting an earlier comment that tanked the market.
Bitmain recently announced it would open its first BTC mining hardware manufacturing facility in the United States by the end of 2025.
Bitcoin’s drop from $124,000 to $117,500 sparked $227 million in liquidations, with traders showing neutral sentiment despite inflation data and Fed uncertainty.
Bitcoin hit a new peak of $124,500 and now has two possible paths ahead, according to Bitcoin OG Samson Mow.
Bitcoin set another all-time high at $123,231 after US Consumer Price Index data showed July inflation was unchanged month-on-month and up 2.7% year-on-year.