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Tether, the world's largest stablecoin launches new synthetic dollar backed by gold.
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Could Bitcoin PUMP Again in September? . . . .. Despite the current price drop, QCP Capital's latest report predicts a Bitcoin price consolidation for two months, followed by a potential bull run starting in September 2024. 🔥 Here are the key points from the report: **Current Price Consolidation**: Bitcoin price might stay limited in the short term due to massive sales of call options expiring next month. ⚖️ **Bullish Outlook**: Despite the current decline, there's aggressive purchasing of call options from September through December, indicating expectations for a major market movement around the US elections. 🏛️‍♂️ **Miners Under Pressure**: Miners are feeling the heat due to high breakeven prices after the Bitcoin halving. This selling pressure might continue, delaying Bitcoin price recovery. 💸 **Miner Holdings at 14-Year Lows**: Miner Bitcoin holdings have fallen to 14-year lows, with total reserves dropping by more than 5,000 BTC since the start of the year. ⬇️ **German Government Sell-Off**: The German government is planning to sell around 3,000 Bitcoins at $47,000, adding to market concerns. **Institutional Players on the Sidelines**: Spot Bitcoin ETFs registered over $500 million in sales last week, showing a lack of confidence among institutional players. They're waiting for Bitcoin to reverse its trajectory before jumping back in. 💸 **Positive Developments**: There have been several positive developments this week that contribute to the bullish outlook for BTC. 🌈 Keep an eye on the charts and stay tuned for further update📊 #Bitcoin #BullRun
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