ALL From Bitcoin

Bitcoin trading volume at lowest level since March 2019

Data released by Santiment shows that the trading volume of Bitcoin (measured in USD) is currently at its lowest level since March 2019. This decline coincides with a drop in the supply of Bitcoin on exchanges from its peak almost three years ago.

Study Finds Only 3% of Crypto Industry Employees Are Paid in Cryptocurrency

According to a study by Pantera Capital, 97% of people in the crypto industry are paid in government-issued currencies, while only 3% are paid in crypto. Of those who receive crypto payments, the majority opt for dollar-linked stablecoins USDC and USDT, with only 13% choosing bitcoin. The median pay for engineers in the industry is $120,000 globally, with those in North America earning $193,000. Additionally, 88% of roles in the crypto industry are remote, and one in five respondents reported receiving token incentives.

Crypto Market Bounces Back as Investors Regain Confidence, Bitcoin Struggles Below $27,000

After a period of choppy trading, the cryptocurrency market is showing signs of bouncing back as investors regain confidence. However, macroeconomic factors and regulatory hurdles have subdued traders' risk appetite, wiping out initial gains from last week. The fear and greed index for the crypto market is still in the fear zone at 39.

Bitcoin Inventor Proposes New Fungible Token Protocol as Alternative to BRC-20

The inventor of Bitcoin Ordinals has proposed a new fungible token protocol called Runes as an alternative to the BRC-20 standard, which has a market cap of $1 billion. The issue with BRC-20 tokens is that they create "junk" Unspent Transaction Outputs (UTXOs) that spam the Bitcoin network. Runes employs a UTXO-based system that fits more naturally into Bitcoin and promotes UTXO set minimization.

Bitcoin and S&P 500 Set to End Q3 Lower as Bonds Outshine Stocks

Bitcoin and the S&P 500 are both expected to end the third quarter with losses, as a key metric shows that owning bonds over stocks and other risk assets is currently the strongest it has been since 2009. Bitcoin has seen a 14% decline for the quarter, trading at $26,100, while the S&P 500 has fallen nearly 3% to $4,320.05.

Evergrande Crisis Could Impact Bitcoin Price, Caution Advised: Analysts

China's Evergrande Group, a major real estate company, announced its restructuring plans, causing anxiety in the Asian market and resulting in a 24% drop in early Monday trading. Bitcoin has been relatively stable over the past week, with a slight drop in price to $26,106 and a market cap of $508 billion.

Bitcoin Briefly Fell to Around $26,000, With a 24-Hour Drop of 1.87%

According to OKX market information on September 25th, Bitcoin briefly fell to around $26,000 and is now priced at $26,017. The 24-hour drop was 1.87%.

Bitcoin Hodlers Maintain Strong Position as Short-Term Holders Face Challenges

Additionally, Nomura, a Japanese banking giant, launched a Bitcoin fund, highlighting the growing adoption of cryptocurrencies globally. Long-term holders of Bitcoin, who have held their positions for over 155 days, continue to show an unwavering commitment to the cryptocurrency, holding an impressive 13.44 million Bitcoins, which is 69% of the total circulating supply. On the other hand, short-term holders are experiencing a notable shift, with 97.5% currently facing unrealized losses, suggesting a reduction in their influence.

Bitmain CFO: 16 Listed Companies Already Control More Than 30% of Bitcoin Computing Power

Max Hua, CFO of Bitmain, stated at the World Digital Mining Summit (WDMS 2023) held on September 22 that as of June 30, 2023, 16 listed companies have already controlled more than 30% of Bitcoin's computing power, an increase of 10% from early 2022 when these companies held about 20% of Bitcoin's computing power.

Bitcoin Price Strengthens Amidst Institutional Interest and Market Uncertainty

Bitcoin's price is bouncing back from resistance at $27,200, and investors are watching to see if it settles above $27,000 and continues towards $31,000 or drops to seek liquidity from support at $25,000. The crypto market is also keeping an eye on the Federal Reserve's meeting on Wednesday, as economists expect a pause in interest rate hikes. Nomura, Japan's largest bank, has launched an Adoption Fund for institutional investors, attracting interest from global firms like Blackrock and Fidelity Investments.