Bitcoin bounced 17% from the lows on Tuesday shortly after MicroStrategy announced another major bitcoin bet. The firm now holds 105,084 BTC and has unveiled plans to buy even more in the future.

Meanwhile, BTC/USD is at an important crossroad, the choice of which shall rule the fate of many.

Let’s dig in.

MicroStrategy Bets Big on Bitcoin, Holding 105,084 BTC in Total

MicroStrategy has acquired 105,084 bitcoin ($489 million), purchased from the proceeds of the sale of $500 million in senior debt notes last week.

The US intelligence firm added 13,000 Bitcoin to its treasury from $489 million raised from corporate bonds sale to investors, averaging a buy in…

Fear, uncertainty, and doubt are afoot as Bitcoin exchanges hands just above $30,000 in yet another sell-off, potentially exacerbated by waves upon waves of bearish news from China.

Let’s dig in.

BTC Hashrate Hits Yearly Low as Miners Migrate out of China

Bitcoin’s hashrate experienced a drawdown to an average of 105 EH/s as miners at Sichuan unplugged their rigs due to a Chinese regime crackdown. This is the lowest level since early November 2020.

Bitcoin’s network hashrate, which is a measure of its computational horsepower, has dropped about 46% since its peak level in mid-May. According to data from Bitinfocharts, the average Bitcoin daily hashrate is currently 105 EH/s (quintillion…

The US Federal Reserve will retain an accommodative monetary policy for the rest of the year, aiming for two rate hikes by the end of 2023. As the expected news broke, BTC/USD experienced local volatility within a 4% range.

In recent news, Michael Saylor outlined that other cryptocurrencies can thrive alongside bitcoin, and the Bitcoin Taproot upgrade is now locked in for November 2021.

Let’s dig in.

MicroStrategy CEO Michael Saylor Says Other Cryptos Can Thrive

MicroStrategy CEO Michael Saylor told CNBC that bitcoin is not alone in having a bright future in the cryptocurrency space. …

Bitcoin has carved its way back to $40,000 amidst a backdrop of on-chain data which shows that the coin stock-to-flow deflection hasn’t been this high since 2010. Meanwhile, the official US Inflation rate hasn’t been this high since 2008.

Let’s dig in.

Inflation Hits Highest Rate since 2008 Outlining the Need For BTC

The US consumer price index (CPI), which measures the prices of certain consumer goods and services, increased by a yearly rate of 5%, hitting the highest level since August 2008, per data from the US Bureau of Labour Statistics.

Last year, the Federal Reserve moved the goal-posts for inflation, allowing inflation to run hotter than usual in order…

Bitcoin appears to be attempting a mild recovery within a range-bound environment. The bounce comes as a sigh of relief for hodlers everywhere as the news from El Salvador breathes new life into a faltering bull.

Let’s dig in.

Economist who Said Inflation Was Dead Now Believes it’s Alive

A quarter of a century after declaring the death of inflation, Roger Bootle is anticipating its rebirth.

Referring to the inflationary pressures on the horizon, Bootle said:

“It is the start of a sea change, I have to say. That’s not to say that we’re going to go back to the strong inflationary conditions of the 70s and early 80s. …

All signs point to a ranging market as Bitcoin refuses to commit one way or the other. But will the news of El Salvador’s Bitcoin adoption have any immediate impact on the market?

Let’s dig in.

El Salvador to Make Bitcoin Legal Tender

As the global monetary system threatens to unwind, El Salvador is hedging its bets by looking to become the first country on earth to recognise Bitcoin as legal tender.

The news comes weeks after Central Bankers like the US Federal Reserve and the European Central Bank (ECB) announced accelerations in the development of Central Bank Digital Currencies (CBDCs).

Check out the full article here!

Technically speaking

Bitcoin Ranges in Oversold Territory

In this issue, we’ll take a slightly different approach since the current technical picture isn’t that interesting. Specifically, we’ll discuss the Ethereum/Bitcoin decoupling scenario in light of recent price action.

Let’s dig in.

What is the Bitcoin Taproot Upgrade?

Unlike the name implies, the Bitcoin Taproot upgrade is no turnip, but an update that promises to keep bits of transaction information buried deep underground.

As its originator wrote, “I believe this construction will allow the largest possible anonymity set for fixed party smart contracts by making them look like the simplest possible payments.

Check out the full article here!

Could Ethereum decouple from Bitcoin?

Over the last couple of months, the…

The US Federal Reserve and central bankers continue to signal that infinite deficit spending does not matter. They’ve set us on a path to hyper-inflation and bitcoin is the only available lifeboat.

As history seemingly repeats itself with the slow decay of time, bitcoin and ethereum are setting up for a directional move in the coming days.

Let’s dig in.

US Federal Reserve Heads Towards Hyperinflation

The United States inflation rate just hit a 13-year high, something which central bank-affiliated economists argue is ‘temporary’ due to a supply shortage.

Of course, anyone with average intelligence knows that the new inflation figures come as no surprise given…

As the crypto market licks its wounds after the largest sell-off ever witnessed, one historically significant indicator suggests that bitcoin has entered into a re-accumulation phase.

Let’s dig in.

Fed’s Balance Sheet To Reach $9 Trillion by 2022

The US Federal Reserve is accumulating assets on its balance sheet at lightning speed, with fresh projections from the New York Fed estimating the bank’s portfolio will grow to $9 trillion by the end of 2022.

According to the report, the Fed’s balance sheet could hold near $9 trillion until 2030 or fall as low as $6.6 …

Bitcoin is in corrective territory. This is the baptism of fire every newcomer eventually experiences, and while never a welcomed sight it does get easier to digest over time.

Let’s dig in.

‘Big Short’ investor Michael Burry Bets Against US Treasury Bonds

Legendary investor and trader who called the 2008 financial crash is betting against Tesla and long-term US Treasury bonds, warning of higher inflation figures on the horizon. Dr. Michael Burry is betting against the US Federal Reserve.

The big short investor reorganised his holdings, swapping out the likes of Pfizer and Wells Fargo for Alphabet and Occidental Petroleum. These sweeping portfolio changes came last quarter, as the firm…


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