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The turn signal has arrived: Bitcoin scarcity has begun! The amount of Bitcoin (BTC) on crypto exchanges has fallen to its lowest level of the year, analysts said "bullishness is beginning". Despite the decline in BTC prices, the appetite for buying by large wallets has not diminished. The demand for “accumulation” in BTC, which is traded between $58,000 and $60,000, continued. According to on-chain data analysis platform CryptoQuant, the amount of BTC on exchanges has decreased by approximately 12.9 percent since January 1. Analysts who evaluated the BTC shortage in question predicted that a supply shock could occur in the near future. “Bitcoin reserves reaching their lowest levels of the year on exchanges indicate that selling pressure is decreasing and if demand continues to increase, the bull market can be supported.” CryptoQuant, reporting that there are a total of 2.62 million BTC left on exchanges, reported that asset owners are turning to cold wallets. Whales are withdrawing their assets from exchanges and moving them to their personal wallets in order to wait for the next market rise. “When there is less Bitcoin on exchanges, there is less liquidity for immediate sale,” said Gaah, indicating that a more resilient market environment will emerge. Crypto analyst MartyParty touched on the scarcity of BTC in his post published on August 27. Analyst followers who said, “Something is happening” An analyst using the pseudonym Bitcoin for Freedom stated that 56 thousand BTC has been withdrawn from exchanges since August 22. Expressing bullish expectations, Bitcoin for Freedom said, “The supply shock will come soon.”

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Elon Musk wins Dogecoin lawsuit: What happens now? Elon Musk and electric car company Tesla have won a lawsuit over claims they manipulated the price of Dogecoin. Elon Musk and his electric car company Tesla have won a lawsuit alleging they manipulated the price of Dogecoin. The lawsuit was dismissed in the U.S. District Court for the Southern District of New York on Aug. 29 by U.S. District Judge Alvin Hellerstein. Judge Hellerstein said the defendants misrepresented their tweets about Dogecoin. The defendants also believe Musk will be the official CEO of Dogecoin and could use the real Dogecoin in a SpaceX. A group of DOGE investors filed a lawsuit against Musk and Tesla in June 2022, seeking $258 billion in damages. The investors accused #Musk of driving the price of DOGE “more than 36,000 percent higher in two years, followed by a sharp decline.” They also claimed that Musk “used his position as the richest man in the world to operate and manipulate the Dogecoin Pyramid Scheme.” Musk requested the lawsuit be dismissed on March 31, and his lawyers described the allegations and $258 billion in damages as a fabrication in Manhattan federal court. The price of Dogecoin remained stable after the news of the layoffs, gaining 0.1 percent in the last 24 hours. As of writing, #DOGE is changing hands at $0.10 and has fallen 20 percent in the last month, according to CoinGecko data. The developments have not yet clearly affected the price of DOGE. However, in the future, #ElonMusk integrating DOGE into #Tesla or X could lead to major price changes in the pair. #DOGE investors should pay attention to moves that may come, especially from Musk. $DOGE

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Donald Trump draws attention with new NFT collection The US presidential candidate’s fourth NFT collection, released on August 27, has garnered a lot of attention. Former US President Donald Trump released his fourth series of NFT trading cards, Series 4: The America First Collection, on August 27. On-chain data shows that the collection has sold more than 22,000 units on the Polygon network in the last day, reaching a value of more than $2.17 million at a mint price of $99 per NFT. Moreover, the sales recorded here represent only 6 percent of the 360,000-piece NFT collection. The fourth NFT collection features Trump in various poses and costumes, like the previous three collections. If all NFTs in this collection were to be minted, the total revenue would exceed $35 million. The NFTs here are currently not available for sale on secondary markets because the cards will not be tradable until January 31, 2025. Trump has embraced the crypto community, moving away from his past skepticism. He began accepting donations in crypto during his election campaign and held meetings with industry stakeholders. Trump’s first NFT collection was released in December 2022. The base price of the first collection had a 100 percent performance. However, mint prices had suffered significant losses in the second and third collections. According to the latest statement, Trump has earned more than $7 million in total from NFT collections. The former US president’s future NFT collections are eagerly awaited.

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