Bitcoin rally delivers $4.1 billion tax windfall for Strategy
Strategy estimated a $4.1 billion income-tax benefit after Bitcoin’s fair value rose above cost as of Sept. 30, according to its Oct. 5 filing. The benefit comes from a lower…
US services price gauge hits a four-year high, clouding Bitcoin’s rate-relief outlook
The US services prices gauge reached a four-year high in September even as growth slowed, a combination that could keep leveraged Bitcoin positions exposed to restrictive financing conditions. The October…
3 countries control 66% of Bitcoin mining, but 1 rival is gaining
Bitcoin’s estimated US mining footprint shrank as Russia’s grew, with little change in top-three country concentration. Hashrate Index’s Oct. 5 country estimates put the US at about 335 EH/s, down…
DOJ presses Tornado Cash prosecution as Treasury drops mixer reporting plan
Federal prosecutors are using a new Bitcoin Fog appeal to defend trying two counts against Roman Storm in New York. Their Oct. 5 letter asks Judge Katherine Polk Failla to…
Bitcoin futures drop $1.4B, but spot buyers step in to help
Bitcoin’s aggregate futures exposure fell as recently active capital gained share through Oct. 4. Younger coin cohorts tend to spend more readily during volatility, so sustained buying remains the test…
ZachXBT infiltrates $1B crypto syndicate to expose Lazarus Group
Blockchain investigator ZachXBT said he infiltrated a Chinese laundering syndicate by posing as a cryptocurrency client and funding repeated stablecoin trades. In an Oct. 5 disclosure, he alleges the network…
US credit spreads eased on October 2 after widening beyond the weakest borrowers
US corporate credit spreads widened beyond the weakest borrowers from September 25 to October 1, creating a broader test of whether tighter financing and reduced institutional risk-taking could pressure Bitcoin.…
Bitcoin gets a 20-day window to see whether energy relief can move the Fed
The G7’s emergency diesel plan has created a near-term test of whether cheaper energy can ease pressure on Bitcoin. Leaders on Oct. 2 agreed to accelerate releases from emergency fuel…
US jobs revision turns July’s 21,000 gain into a 10,000 loss
The US Bureau of Labor Statistics (BLS) revised July and August payroll gains down by 60,000 on Oct. 2, weakening the labor-based case for another Federal Reserve hike and potentially…
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Ethereum’s past outflow charts can change when more exchange wallets are identified
Coin Metrics has rebuilt Ethereum’s historical Standard Flow Metrics, raising a timing problem for tests that treat exchange outflows as a trading signal. The crypto data provider’s Oct. 1 notice…