Coindesk

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.Bitcoin (BTC) bulls are attempting to establish an interim low around $113,000, but the effort appears weak in terms of both price and volume. So far, the bounce has been barely notable, with upside capped above $114,000. Additionally, volumes have stayed low relative to what we observed during the early Tuesday drop, as seen on the hourly chart.The weak bounce is consistent with bearish momentum signals, as the 50-, 100-, and 200-hour simple moving averages (SMAs) are aligned in descending order and trending downward.On the daily chart, prices have convincingly broken below the rising trendline support, signaling a shift from bullish to bearish momentum. Both the longer-term...

By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin (BTC) and ether (ETH) have recovered slightly from late Tuesday lows, though both CoinDesk 20 and CoinDesk 80 indexes are lower over 24 hours, signaling a broad market weakness. Among the top 100 coins, only OKB and LINK have gained more than 3%.The analyst community remains squarely focused on Fed Chair Jerome Powell's speech at Jackson Hole later this week. "The recent sell‑off suggests that short‑term positioning remains fragile," Singapore-based QCP Capital said. "Risk assets may be vulnerable to further swings if Powell strikes a hawkish tone or if upcoming labor or inflation data surprise to the upside." Powell's speech will come after publication of the minutes of the Fed's July...

Japan's benchmark 10-year government bond (JGB) yield rose to a 17-year high, reflecting concerns that could spill over to bond markets across other developed economies and reduce demand for riskier assets such as cryptocurrencies and equities.The yield rose above 1.61%, the highest since 2008. The move follows a dismal auction of the 20-year JGB on Tuesday, indicating investor concern about higher government spending and tax cuts.Yields on longer-term debt rose to highs seen last month, with the 20-year bond hitting 2.64% and the 30-year climbing to 3.19%, according to data source TradingView.The increases could easily spill over into U.S. Treasury notes, potentially causing a tightening of financial conditions. For years, the yields remained depressed due to the Bank of...

Thumzup Media Corp. (TZUP), which counts Donald Trump Jr. as a large shareholder, said it will acquire Dogehash Technologies, Inc. in an all-stock deal, pivoting from digital marketing into industrial-scale crypto miningUnder the agreement, Dogehash shareholders will receive 30.7 million Thumzup shares, according to a Tuesday release, valuing the transaction at $153.8 million, based on the shares' closing price. The combined company will rebrand as Dogehash Technologies Holdings, Inc. and list on Nasdaq under the ticker XDOG, pending shareholder approval later this year.Dogehash operates about 2,500 Scrypt ASIC miners across renewable-powered data centers in North America, with plans to scale up further in 2026. Unlike firms that pad their balance sheets by simply buying coins, Dogehash has invested in its...

After four years in the wilderness, bitcoin (BTC) exchange traded notes (ETN) are set to return to London and the change could prove more significant than many expect.Starting Oct. 8, these products, which allow retail investors to gain exposure to the cryptocurrency without buying it themselves, will become available after being banned by the Financial Conduct Authority (FCA) in January 2021. The regulators argued at the time that extreme volatility, susceptibility to fraud and the difficulty of valuation made them too risky for retail investors.But the ban also left the U.K. lagging behind developments elsewhere. The U.S. spot exchange-traded funds have been a resounding success, with more than $65 billion dollars flowing into bitcoin and ether (ETH) ETFs since their...