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NEW: đČđŸ Malaysian authorities are destroying #Bitcoin mining rigs as part of a wider crackdown on operations illegally siphoning electricity from the national grid. Police officials from the Perak District recently destroyed 985 mining rigs valued at RM1.98 million ($452,500). #Laraxenteam #laraxen #LaraxenFamily
NEW: đČđŸ Malaysian authorities are destroying #Bitcoin mining rigs as part of a wider crackdown on operations illegally siphoning electricity from the national grid. Police officials from the Perak District recently destroyed 985 mining rigs valued at RM1.98 million ($452,500). #Laraxenteam #laraxen #LaraxenFamily
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#### Jerome Powell Hints at Imminent Interest Rate Cuts
**Central Bank's Strategy to Strengthen Labor Market**
Jerome Powell has indicated that the Federal Reserve plans to implement interest rate cuts soon. This move aims to counteract any additional weakening in the U.S. labor market. Powell stated, "We do not seek or welcome further cooling in labor market conditions. The time has come for policy to adjust."
#LaraxenTeam #Laraxen #LaraxenFamily
#### Jerome Powell Hints at Imminent Interest Rate Cuts
**Central Bank's Strategy to Strengthen Labor Market**
Jerome Powell has indicated that the Federal Reserve plans to implement interest rate cuts soon. This move aims to counteract any additional weakening in the U.S. labor market. Powell stated, "We do not seek or welcome further cooling in labor market conditions. The time has come for policy to adjust."
#LaraxenTeam #Laraxen #LaraxenFamily
JPMorgan Lowers Price Targets on Bitcoin Miners, Sees Buying Opportunity
Bitcoin Miners
In light of recent market changes and company-specific events, JPMorgan has cut its price expectations for Bitcoin miners like CleanSpark, Riot Platforms, and Marathon Digital.
JPMorgan revised its price targets for several prominent Bitcoin mining companies on August 23, reflecting recent market shifts and company-specific developments.
Despite the downgrades, the investment bank sees potential buying opportunities in select miners.
Factors Behind JP Morgan Price Downgrades on Bitcoin Minersâ Stock
The investment bank lowered its price targets due to two primary factors. The bank reduced its Bitcoin price prediction from $68,000 to $60,000, accounting for the decline in Bitcoin prices since its last update.
Additionally, the bank considered a higher baseline network hashrate assumption (increased from 600 to 615 exahash per second) and share count dilution in some mining companies.
These factors have led to a reduction in the target gross profit per EH/s estimates for the miners.
Particularly, JPMorgan analysts Reginald L. Smith and Charles Pearce provided updated price targets for several publicly traded Bitcoin miners. #LaraxenFamily #BinanceHODLerBANANA #BlackRockETHOptions
Bitcoin Miners
In light of recent market changes and company-specific events, JPMorgan has cut its price expectations for Bitcoin miners like CleanSpark, Riot Platforms, and Marathon Digital.
JPMorgan revised its price targets for several prominent Bitcoin mining companies on August 23, reflecting recent market shifts and company-specific developments.
Despite the downgrades, the investment bank sees potential buying opportunities in select miners.
Factors Behind JP Morgan Price Downgrades on Bitcoin Minersâ Stock
The investment bank lowered its price targets due to two primary factors. The bank reduced its Bitcoin price prediction from $68,000 to $60,000, accounting for the decline in Bitcoin prices since its last update.
Additionally, the bank considered a higher baseline network hashrate assumption (increased from 600 to 615 exahash per second) and share count dilution in some mining companies.
These factors have led to a reduction in the target gross profit per EH/s estimates for the miners.
Particularly, JPMorgan analysts Reginald L. Smith and Charles Pearce provided updated price targets for several publicly traded Bitcoin miners. #LaraxenFamily #BinanceHODLerBANANA #BlackRockETHOptions
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Saying "The risk of 'short squeeze' has increased in Bitcoin", K33: We can see sharp movements
Crypto research firm K33 Research wrote that open positions have increased sharply while funding rates are hovering at negative levels, creating a favorable ground for a short squeeze.
According to crypto research firm K33 Research, there are signs that the risk of a short squeeze in the derivatives market that could trigger sharp rallies in Bitcoin is increasing.
The company, which tracks the funding rates of Bitcoin-based futures contracts, pointed out that the seven-day average annual funding rate was the lowest since March 2023, when bank bankruptcies in the U.S. shook the market. According to the news of Bloomberg, the note published by company analysts Vetle Lunde and David Zimmerman said, "While the funding rates were at average negative levels over the past week, the open position has increased sharply. This shows that there is an aggressive deficit and that there is a structurally suitable ground for 'short squeeze'.â They commented.
Stating that the open position size increased equivalent to 29 thousand BTC last week, and the average funding rate was minus 2.5 percent yesterday, the analysts said, "In addition to the negative funding rate, such a rapid increase in open positions is a relatively rare situation."
Short squeeze refers to the rush of investors in a short position in that asset to reduce their losses as a result of the rapid rise in the price of an asset in the financial markets. This causes the price of the asset to increase even more.
#Laraxenteam #laraxen #LaraxenFamily
Saying "The risk of 'short squeeze' has increased in Bitcoin", K33: We can see sharp movements
Crypto research firm K33 Research wrote that open positions have increased sharply while funding rates are hovering at negative levels, creating a favorable ground for a short squeeze.
According to crypto research firm K33 Research, there are signs that the risk of a short squeeze in the derivatives market that could trigger sharp rallies in Bitcoin is increasing.
The company, which tracks the funding rates of Bitcoin-based futures contracts, pointed out that the seven-day average annual funding rate was the lowest since March 2023, when bank bankruptcies in the U.S. shook the market. According to the news of Bloomberg, the note published by company analysts Vetle Lunde and David Zimmerman said, "While the funding rates were at average negative levels over the past week, the open position has increased sharply. This shows that there is an aggressive deficit and that there is a structurally suitable ground for 'short squeeze'.â They commented.
Stating that the open position size increased equivalent to 29 thousand BTC last week, and the average funding rate was minus 2.5 percent yesterday, the analysts said, "In addition to the negative funding rate, such a rapid increase in open positions is a relatively rare situation."
Short squeeze refers to the rush of investors in a short position in that asset to reduce their losses as a result of the rapid rise in the price of an asset in the financial markets. This causes the price of the asset to increase even more.
#Laraxenteam #laraxen #LaraxenFamily
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Big news from Celsius! The platform has swiftly distributed over $2.53 billion to around 251,000 creditors, covering about two-thirds of eligible claims and 93% of the total value at January 16 prices.
Hereâs the scoop:
- $1.7 billion (65%) was distributed within the first two weeks.
- $2 billion (80%) was distributed by the end of the first month.
Yet, around 121,000 creditors still need to claim their payouts, averaging $1,500 each. Many are owed less than $100, with others due between $100 and $1,000.
Some delays are due to incomplete claims and missing info, but progress is strong. Make sure to check your status and claim whatâs yours! đđ°
#CelsiusDistribution #CryptoUpdates #Binance #Laraxen #LaraxenFamily
Big news from Celsius! The platform has swiftly distributed over $2.53 billion to around 251,000 creditors, covering about two-thirds of eligible claims and 93% of the total value at January 16 prices.
Hereâs the scoop:
- $1.7 billion (65%) was distributed within the first two weeks.
- $2 billion (80%) was distributed by the end of the first month.
Yet, around 121,000 creditors still need to claim their payouts, averaging $1,500 each. Many are owed less than $100, with others due between $100 and $1,000.
Some delays are due to incomplete claims and missing info, but progress is strong. Make sure to check your status and claim whatâs yours! đđ°
#CelsiusDistribution #CryptoUpdates #Binance #Laraxen #LaraxenFamily
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đ IMPORTANT FACT đ
What you should learn before today's speech by Fed Chairman Jerome PowellMarkets are awaiting Fed Chairman Jerome Powell's speech at Jackson Hole. It is described as "the riskiest speech of the year."
This story will take place in an environment where concerns are growing that the Fed is late in cutting interest rates and this situation is increasing the pressure on the Fed.
According to the Washington Post, Powell will give the riskiest speech of the year. It is no longer a question whether the Fed will cut interest rates in September. What is not known is whether this interest rate reduction will be 25 or 50 basis points. Powell avoided giving important details in his previous speeches at Jackson Hole.
Top Fed officials, on the contrary, have closed the door to this possibility in their speeches so far. Before Powell's speech today, there was a significant development regarding employment data. The Labor Department announced that the US economy created 818,000 fewer jobs than previously announced in the 12-month period through March 2024.
This downward validation of the employment data was recorded as the largest downward revision in the past 15 years. It also increased pressure for the Fed to lower interest rates.
#Laraxenteam #laraxen #LaraxenFamily
What you should learn before today's speech by Fed Chairman Jerome PowellMarkets are awaiting Fed Chairman Jerome Powell's speech at Jackson Hole. It is described as "the riskiest speech of the year."
This story will take place in an environment where concerns are growing that the Fed is late in cutting interest rates and this situation is increasing the pressure on the Fed.
According to the Washington Post, Powell will give the riskiest speech of the year. It is no longer a question whether the Fed will cut interest rates in September. What is not known is whether this interest rate reduction will be 25 or 50 basis points. Powell avoided giving important details in his previous speeches at Jackson Hole.
Top Fed officials, on the contrary, have closed the door to this possibility in their speeches so far. Before Powell's speech today, there was a significant development regarding employment data. The Labor Department announced that the US economy created 818,000 fewer jobs than previously announced in the 12-month period through March 2024.
This downward validation of the employment data was recorded as the largest downward revision in the past 15 years. It also increased pressure for the Fed to lower interest rates.
#Laraxenteam #laraxen #LaraxenFamily
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Chris Pavlovski :
Iâm a little late to this, but for good reason â Iâve just safely departed from Europe.
France has threatened Rumble, and now they have crossed a red line by arresting Telegramâs CEO, Pavel Durov, reportedly for not censoring speech.
Rumble will not stand for this behavior and will use every legal means available to fight for freedom of expression, a universal human right. We are currently fighting in the courts of France, and we hope for Pavel Durovâs immediate release.
#TelegramCEO #Laraxenteam #laraxen #LaraxenFamily
Chris Pavlovski :
Iâm a little late to this, but for good reason â Iâve just safely departed from Europe.
France has threatened Rumble, and now they have crossed a red line by arresting Telegramâs CEO, Pavel Durov, reportedly for not censoring speech.
Rumble will not stand for this behavior and will use every legal means available to fight for freedom of expression, a universal human right. We are currently fighting in the courts of France, and we hope for Pavel Durovâs immediate release.
#TelegramCEO #Laraxenteam #laraxen #LaraxenFamily
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Bitcoin Metrics Signal Weak Demand Dynamics, Growth Slows: CryptoQuant
Growth in total holdings of large Bitcoin investors has also slowed from a monthly pace of 6% to 1%.
Bitcoin demand has slowed since early April and dipped into negative territory this month, according to South Korean data firm CryptoQuant.
On Wednesday, Bitcoin is trading at the $60,700 mark and has failed to hit $70,000.
Growth in the total holdings of large Bitcoin investors has also slowed, from a monthly pace of 6% in March to just 1%, notes the research firm.
âThis slowdown in Bitcoin demand coincided with smaller purchases from spot ETFs in the USA. The average daily purchases from Bitcoin spot ETFs in the USA have declined from 12.5K Bitcoin in March, when Bitcoin was trading above $70K, to an average of 1.3K Bitcoin last week,â said CryptoQuant in its weekly note.
Bitcoin Spot ETF Hype Falters in the U.S.
The significant drop in ETF activity is a reflection of the reduced appetite for Bitcoin in the spot market.
The decline in U.S. spot demand has also been reflected in the reduced price premium for Bitcoin on the Coinbase exchange, a leading U.S.-based cryptocurrency exchange. Lower premiums generally suggest that the demand pressure from buyers has weakened, contributing to the stagnation in Bitcoinâs price momentum. $BTC
#Laraxenteam #laraxen #LaraxenFamily
Bitcoin Metrics Signal Weak Demand Dynamics, Growth Slows: CryptoQuant
Growth in total holdings of large Bitcoin investors has also slowed from a monthly pace of 6% to 1%.
Bitcoin demand has slowed since early April and dipped into negative territory this month, according to South Korean data firm CryptoQuant.
On Wednesday, Bitcoin is trading at the $60,700 mark and has failed to hit $70,000.
Growth in the total holdings of large Bitcoin investors has also slowed, from a monthly pace of 6% in March to just 1%, notes the research firm.
âThis slowdown in Bitcoin demand coincided with smaller purchases from spot ETFs in the USA. The average daily purchases from Bitcoin spot ETFs in the USA have declined from 12.5K Bitcoin in March, when Bitcoin was trading above $70K, to an average of 1.3K Bitcoin last week,â said CryptoQuant in its weekly note.
Bitcoin Spot ETF Hype Falters in the U.S.
The significant drop in ETF activity is a reflection of the reduced appetite for Bitcoin in the spot market.
The decline in U.S. spot demand has also been reflected in the reduced price premium for Bitcoin on the Coinbase exchange, a leading U.S.-based cryptocurrency exchange. Lower premiums generally suggest that the demand pressure from buyers has weakened, contributing to the stagnation in Bitcoinâs price momentum. $BTC
#Laraxenteam #laraxen #LaraxenFamily
How does the biggest employment revision in 15 years affect the Fed?
The employment revision, which the markets are eagerly waiting for, was announced today with a delay of half an hour. Estimates by Goldman Sachs and Wells Fargo, the leading banking institutions of the USA, said that the downward revision would be between 600 thousand and 1 million. The Ministry of Labor reported this figure as 818 thousand.
Accordingly, it turned out that 818 thousand fewer jobs were created than previously announced during the 12-month period until March 2024. Thus, this was the largest downward revision since 2009.
The latest data showed that the labor market was not as strong as the Bureau of Labor Statistics, which is affiliated with the Ministry of Labor, announced. Thus, it put more pressure on the Fed to lower interest rates. âInvestors should expect the Fed to prepare the markets for a rate cut in September,â said Jeffrey Roach, chief economist at LPL Financial.
Navy Federal Credit Union corporate economist Robert Frick commented, âRevisions are not shocking, but this puts additional pressure for the Fed to lower interest rates.â
With today's data, positions that the Fed will lower interest rates next month have increased. Investors expect interest rates to be reduced by 25 basis points next month. On the other hand, the probability of a discount of 50 basis points has also increased. Markets started to price the probability of this scenario at 30 percent.
Eyes are now turned to Fed chairman Jerome Powell's speech at Jackson Hole on Friday. #laraxen #Laraxenteam #LaraxenFamily
The employment revision, which the markets are eagerly waiting for, was announced today with a delay of half an hour. Estimates by Goldman Sachs and Wells Fargo, the leading banking institutions of the USA, said that the downward revision would be between 600 thousand and 1 million. The Ministry of Labor reported this figure as 818 thousand.
Accordingly, it turned out that 818 thousand fewer jobs were created than previously announced during the 12-month period until March 2024. Thus, this was the largest downward revision since 2009.
The latest data showed that the labor market was not as strong as the Bureau of Labor Statistics, which is affiliated with the Ministry of Labor, announced. Thus, it put more pressure on the Fed to lower interest rates. âInvestors should expect the Fed to prepare the markets for a rate cut in September,â said Jeffrey Roach, chief economist at LPL Financial.
Navy Federal Credit Union corporate economist Robert Frick commented, âRevisions are not shocking, but this puts additional pressure for the Fed to lower interest rates.â
With today's data, positions that the Fed will lower interest rates next month have increased. Investors expect interest rates to be reduced by 25 basis points next month. On the other hand, the probability of a discount of 50 basis points has also increased. Markets started to price the probability of this scenario at 30 percent.
Eyes are now turned to Fed chairman Jerome Powell's speech at Jackson Hole on Friday. #laraxen #Laraxenteam #LaraxenFamily
đ Countdown to Victory! đWeâre down to the FINAL 10 DAYS of the event! đ Every vote you cast earns you $5 daily, up to a total of $50! đ”Hereâs how you can boost your earnings:1. Vote daily â earn $5 each day!2. Help me climb the ranks â I need your support to break into the top 50!âš Why it matters: If I hit the top 50, we unlock a Red Box Event with a whopping $10,000 prize! đđ„Donât miss out â click to vote and letâs make this happen together! đThanks for all your support â couldnât do it without you! đ#BinanceSquareFamily #BinanceSquareCreatorAward #LaraxenFamily
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The spike in #Bitcoin transactions fees could be due to Babylonâs Bitcoin Staking protocol going live.
This allows BTC holders to stake their Bitcoin to PoS systems. Bitcoin is locked in a script, earning voting power and staking rewards without involving a third party. đ€
$BTC
#Laraxenteam #LaraxenFamily #laraxen
The spike in #Bitcoin transactions fees could be due to Babylonâs Bitcoin Staking protocol going live.
This allows BTC holders to stake their Bitcoin to PoS systems. Bitcoin is locked in a script, earning voting power and staking rewards without involving a third party. đ€
$BTC
#Laraxenteam #LaraxenFamily #laraxen
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Powell's speech reflected positively on crypto funds: $533 million arrived
Cryptocurrency funds closed last week with a plus of $533 million. Most of the entries into the funds came after Powell's speech on Friday. The biggest investment, as always, received Bitcoin funds.
Cryptocurrency funds had a net inflow of $533 million last week. This figure pointed to the peak of the last 5 weeks. While Bitcoin funds net invested $543 million, the outflows of $35.7 million in Ether funds also drew attention.
Most of the entries are on Friday
The report, prepared by CoinShares analysts, stated that most of the entries were during and after Powell's speech on Friday. As it is known, Powell, in his speech in the town of Jackson Hole on Friday, gave the message that action would be taken on interest rate cuts in September.
Altcoin funds remained low
The performance of altcoin funds, which has serious inflows in recent weeks, has been low last week. While only 100 thousand dollars entered the Solana funds, LTC funds saw 500 thousand dollars, XRP funds 300 thousand dollars and ADA funds 300 thousand dollars.
An investment of 1.7 million dollars came to the "Short Bitcoin" funds that invested in the fall of Bitcoin.
Exits again in Grayscale...
The leader of the week in Bitcoin spot ETFs was BlackRock again. The IBIT fund was at its far peak at $318 million. The closest fund to it was Fidelity's Wise Origin ETF. The Fidelity fund received an investment of $87 million. On a weekly basis, there were 87 million dollar exits from Grayscale's Bitcoin fund and 118 million dollars from the Ether fund.
#laraxen #LaraxenFamily #Laraxenteam $ADA
$XRP
$LTC
Powell's speech reflected positively on crypto funds: $533 million arrived
Cryptocurrency funds closed last week with a plus of $533 million. Most of the entries into the funds came after Powell's speech on Friday. The biggest investment, as always, received Bitcoin funds.
Cryptocurrency funds had a net inflow of $533 million last week. This figure pointed to the peak of the last 5 weeks. While Bitcoin funds net invested $543 million, the outflows of $35.7 million in Ether funds also drew attention.
Most of the entries are on Friday
The report, prepared by CoinShares analysts, stated that most of the entries were during and after Powell's speech on Friday. As it is known, Powell, in his speech in the town of Jackson Hole on Friday, gave the message that action would be taken on interest rate cuts in September.
Altcoin funds remained low
The performance of altcoin funds, which has serious inflows in recent weeks, has been low last week. While only 100 thousand dollars entered the Solana funds, LTC funds saw 500 thousand dollars, XRP funds 300 thousand dollars and ADA funds 300 thousand dollars.
An investment of 1.7 million dollars came to the "Short Bitcoin" funds that invested in the fall of Bitcoin.
Exits again in Grayscale...
The leader of the week in Bitcoin spot ETFs was BlackRock again. The IBIT fund was at its far peak at $318 million. The closest fund to it was Fidelity's Wise Origin ETF. The Fidelity fund received an investment of $87 million. On a weekly basis, there were 87 million dollar exits from Grayscale's Bitcoin fund and 118 million dollars from the Ether fund.
#laraxen #LaraxenFamily #Laraxenteam $ADA
$XRP
$LTC
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Kamala Harris Is âRedefiningâ Democratic Party, Billionaire Mark Cuban Says
Mark Cuban shares his thoughts on Kamala Harris and Democratic Party policies.
Billionaire and long-time crypto investor Mark Cuban has taken to social media to claim Democratic nominee Kamala Harris is âredefiningâ the Democratic party ahead of the November 2024 U.S. presidential election, a Friday X post from the Shark Tank star shows.
Mark Cuban Shares His Thoughts On Kamala Harris
âKamala Harris is not falling in line with Democratic Party Policies,â Cuban posted to X Friday. âKamala Harris is defining her own policies, and the Democratic Party is falling in line with her. She literally is redefining the party.â
#Laraxenteam #laraxen #LaraxenFamily
Kamala Harris Is âRedefiningâ Democratic Party, Billionaire Mark Cuban Says
Mark Cuban shares his thoughts on Kamala Harris and Democratic Party policies.
Billionaire and long-time crypto investor Mark Cuban has taken to social media to claim Democratic nominee Kamala Harris is âredefiningâ the Democratic party ahead of the November 2024 U.S. presidential election, a Friday X post from the Shark Tank star shows.
Mark Cuban Shares His Thoughts On Kamala Harris
âKamala Harris is not falling in line with Democratic Party Policies,â Cuban posted to X Friday. âKamala Harris is defining her own policies, and the Democratic Party is falling in line with her. She literally is redefining the party.â
#Laraxenteam #laraxen #LaraxenFamily
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Upbit Temporarily Halts $NEAR Transactions Ahead of Major Network Upgrade!
Heads up, NEAR holders! Upbit, a top-tier global crypto exchange, is temporarily suspending deposit and withdrawal services for NEAR Protocol (NEAR) due to a significant network upgrade. This is all set to kick off on August 26, 2024, as a precaution to keep your assets safe and secure during the upgrade process.
Important Note: Trading of NEAR will continue as usual, but Upbit strongly advises against making any NEAR deposits during this time. If things go sideways, recovery might be tricky!
Details:
- Suspension Begins: August 26, 2024, at 12:00 KST
- Reason: Scheduled network upgrade aimed at boosting blockchain performance and security
- Resumption: Services will restart once the upgraded network is confirmed stable
Stay tuned and make sure your assets are secure! For more updates, follow me and keep your crypto journey smooth!
#LaraxenTeam #LaraxenFamily #TraderRai #CryptoNewss
Upbit Temporarily Halts $NEAR Transactions Ahead of Major Network Upgrade!
Heads up, NEAR holders! Upbit, a top-tier global crypto exchange, is temporarily suspending deposit and withdrawal services for NEAR Protocol (NEAR) due to a significant network upgrade. This is all set to kick off on August 26, 2024, as a precaution to keep your assets safe and secure during the upgrade process.
Important Note: Trading of NEAR will continue as usual, but Upbit strongly advises against making any NEAR deposits during this time. If things go sideways, recovery might be tricky!
Details:
- Suspension Begins: August 26, 2024, at 12:00 KST
- Reason: Scheduled network upgrade aimed at boosting blockchain performance and security
- Resumption: Services will restart once the upgraded network is confirmed stable
Stay tuned and make sure your assets are secure! For more updates, follow me and keep your crypto journey smooth!
#LaraxenTeam #LaraxenFamily #TraderRai #CryptoNewss