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Bitcoin’s all-time high gains vanished hours later: Here’s why

Key takeaways:
BTC futures premium remains neutral, indicating traders were unfazed by the recent $6,630 price drop.
The Bitcoin options skew and macroeconomic concerns suggest limited appetite for a breakout above $120,000.
Bitcoin (BTC) faced a sharp rejection after reaching a $124,089
BTC-3.92%
WHY-5.61%
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US Treasury’s OFAC sanctions crypto exchange Garantex for second time

The US Treasury’s Office of Foreign Assets Control (OFAC) has redesignated cryptocurrency exchange Garantex Europe to its list of sanctioned entities.
In a Thursday notice, OFAC said it had redesignated Garantex as well as sanctioned its “successor,” Grinex, three Garantex executives and six
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Bitcoin sell-off intensifies after hot US inflation report rattles stocks, crypto

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BTC-3.92%
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TeraWulf secures $3.7B AI hosting deal backed by Google, shares soar

TeraWulf has become the latest cryptocurrency miner to pivot into AI infrastructure hosting, reaching a long-term agreement with Fluidstack that’s backstopped by Alphabet’s Google — in a move expected to significantly increase the company’s revenue run rate.
During its shareholder call on
IN-14.96%
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Charles Schwab, Fidelity among traditional companies hiring for crypto expansion

Charles Schwab, Fidelity and other traditional companies based in the United States are hiring for senior crypto positions to seemingly make a push into the industry. The open positions come as regulatory clarity has increased, paving the way for TradFi to enter the space.
The open positions
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Jack Dorsey’s Block targets 10-year lifecycle for Bitcoin mining rigs

Bitcoin-focused fintech company Block Inc. has introduced a new cryptocurrency mining system designed to extend the lifespan of mining rigs and lower operational costs — a potential boost for miners facing steep capital expenditures to maintain facilities.
At the center of the launch is Proto
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Ether price prediction markets bet ETH will hit $5K by end of August

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Creating an eternal canvas, one satoshi at a time — Interview with Jayson Winer a.k.a. Mr. Black

For any artist, the ultimate ambition is to create something that endures, a work that can outlast its creator. In the digital age, this quest for permanence has been a constant struggle against broken links, defunct platforms and mutable code. This search for an eternal canvas is what led one cre
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From White House reports to Wall Street: How ZK-proofs are taking over blockchain

A technology once confined to academic papers is now being called out in US government reports and powering the settlement systems of global banks. Zero-knowledge proofs (ZK-proofs) are cryptographic methods to verify data without revealing it, and they are quietly becoming the gold standard for
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Bitcoin drops below $119K after US Treasury secretary rules out new BTC buys

Bitcoin dropped below a key support level Thursday after US Treasury Secretary Scott Bessent said the government had no plans to make additional purchases of Bitcoin for its Bitcoin and digital asset reserve.
Bitcoin (BTC) fell below the $120,000 psychological support level and traded at $118,730 a
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Bitcoin showed the path, and decentralized AI must ditch rented compute

Opinion by: Ahmad Shadid, founder of O.xyz and co-founder of IO.ne
Not a single week passes by without a new artificial intelligence startup coming out of stealth
With a slick interface, clever prompts and an OpenAI key powering the back-end, these ventures often boast seed valuations that make e
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BtcTurk halts withdrawals amid suspected $48M crypto hack

Turkish cryptocurrency exchange BtcTurk has halted withdrawals amid reports suggesting that the platform has suffered a major loss of funds due to a hack.
Cybersecurity firm Cyvers took to X on Thursday to report that it had detected $48 million worth of digital assets, including Ether (ETH),
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BNB Chain bridges Wall Street and Main Street for the next phase of crypto adoption

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