Coindesk

HONG KONG — Eric Trump, executive vice president of the Trump Organization, praised China during a panel at BTC Asia in Hong Kong and said there is “no question” the country had “made an unbelievable mark on bitcoin and cryptocurrencies.”“There's no question that China is a hell of a power when it comes to this world and doing it, doing it well. By the way, I give the same credit to the Middle East. I mean, the Middle East has really embraced cryptocurrency in a massive way, and they are running and they are running fast in that endeavor,” the son of U.S. President Donald Trump said.Trump framed the U.S.–China dynamic as central to the future of digital finance, agreeing...

Bitcoin (BTC) miner IREN (IREN) posted its first full-year profit as the company founded in 2018 expanded into AI cloud computing and ramped up production capacity with more efficient rigs. The stock climbed in pre-market trading.Net income in the year ended June 30 rose to $86.9 million from a loss of $28.9 million the year before, IREN said on its website on Thursday. Revenue more than doubled to a record $501 million as the Sydney-based company increased production capacity to 50 exahashes per second (EH/s). Adjusted earnings before interest, tax, depreciation and amortization (Ebitda) surged to $269.7 million, nearly five times last year’s level, With nearly 3 gigawatts of contracted power and expansion in both bitcoin mining and AI infrastructure,...

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.A key technical indicator is warning of an early end to the bitcoin (BTC) bull market, even as traders continue to position for a continued rally into the year-end.The indicator under consideration is the Relative Strength Index (RSI), a momentum oscillator that ranges from 0 to 100. It helps traders gauge the speed and magnitude of recent price movements, typically calculated over a 14-day, 14-week, or 14-month period.BTC’s 14-month RSI is now flashing a bearish divergence, a pattern that occurs when the indicator begins to decline while prices continue to rise. The occurrence of this divergence on the monthly chart indicates that BTC's bull market may be...

Bitcoin (BTC) defied expectations for significant volatility in August, trading within a range. As market dynamics indicate a continued low-volatility regime in the near term, 10x Research highlights the "short strangle" as an ideal play."Given the current dynamics in the bitcoin options market, a short strangle looks well-suited for the next month. With bitcoin trading around $113,000 and an expected range between $95,000 and $125,000, selling an out-of-the-money put near $95,000 alongside an out-of-the-money call near $125,000 provides an opportunity to capture premium," Markus Thielen, founder of 10x Research, said in a report to clients Thursday.Short strangle involves a simultaneous writing (selling) of out-of-the-money higher strike calls and OTM lower strike puts with the same expiry, positioned equidistant...

HONG KONG — Binance founder Changpeng “CZ” Zhao believes the convergence of equity markets and crypto is ushering in a new era for digital assets, one that expands access to institutional capital and broadens crypto’s global reach. But he cautions that the sector still faces significant risks, especially as it enters its first major bull cycle since these structures gained traction.Speaking at BTC Asia in Hong Kong, CZ said moves by public companies to hold bitcoin (BTC) and other cryptocurrencies on their balance sheets — following the example set by MicroStrategy — mark a breakthrough moment.“In the world’s largest economy, 90%-95% of the money is managed by institutions,” he noted. “Until ETFs and treasury companies, those guys couldn’t participate in...