September is just around the corner, and it's historically one of the most unfavorable months for Bitcoin. 🧐

Over the past 6 years, Bitcoin has only seen positive returns in September once (+4% last year in 2023).

When looking at the average daily performance of BTC in September, the overall picture is far from optimistic. 🤷

Will Bitcoin be able to break this negative trend this year, or are we in for another decline?

▪️ This time the trend will be broken after the Fed meeting - 🔥

▪️ We'll fall towards $40,000 - 👎

▪️ September will be boring; the price won't go too far up or down - 👀

▪️ What does it matter? By the end of the year, Bitcoin will be at $100,000 - 🐳

The arrest of Pavel Durov poses a serious threat to Telegram's financial stability, according to the Financial Times.

▪️ Legal charges against Durov in France have significantly affected Telegram's financial prospects.

▪️ The company may face challenges with its IPO plans.

▪️ Telegram's bonds, in which Durov personally invested $64 million, have dropped by 10% in value—some are even calling it a "crash."

▪️ Last year, Telegram reported a net loss of $173 million, taking into account operating expenses and taxes.

▪️ The company has secured around $2.4 billion in debt financing, which is due for repayment in 2026.

Elon Musk says he is the person who wants Tesla to bring back the ability to pay for goods with Dogecoin 😁

🇧🇷 Brazil has officially blocked 𝕏 (Twitter) due to Elon Musk's refusal to appoint a company representative in the country.

👀 Anyone caught using a VPN to access the social network will be fined up to $8,874 per day.

Daily inflows and outflows in Ethereum ETFs amounted to zero dollars 🤔

Over the past week, outflows totaled $12 million, with the total cumulative outflow since the ETF's launch reaching $477 million. 🤷

Vitalik Buterin stated that he has not sold any cryptocurrency for personal profit since 2018. 🚫💰

Instead, all of his sales have been used to support various projects he deems valuable, either within the Ethereum ecosystem or for broader charitable causes, such as biomedical research and development. 🤲

Telegram's balance sheet shows nearly $400 million in cryptocurrency

The Financial Times reports that Telegram had almost $400 million in digital assets, according to the company's filings. 💰

As of December 31, 2023, the value of these tokens was significantly higher than the company's cash and cash equivalents.🧐

The specific assets are not detailed in the documents, but Pavel Durov has publicly stated that he personally holds only Bitcoin and Toncoin. 💪

Bitcoin this summer 🤪

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While people were wondering, "Who’s selling?!", Bitcoin miners offloaded 2,655 BTC over the weekend, totaling around $154 million.

Here's why there was a sell-off: Bitcoin miners' earnings dropped to an 11-month low in August. 📉

The total profits for the month were $851.4 million, marking a $100 million decrease from July. 🧐

At the end of August, Bitcoin decreased by 8.6%, while Ethereum fell by over 22%. 📉

As is often the case, the summer season proved to be a challenging period for the cryptocurrency market. 🤷

According to Santiment, while small traders are in a panic, big players are busy stacking up Bitcoin. 🐳

In August alone, over 283 wallets crossed the 100 BTC threshold.

👀 Currently, there are 16,120 wallets holding more than 100 BTC, setting a new record for the past 17 months. The number of addresses with at least 10 BTC is also rising.

In the last 30 days, wallets with balances between 10 and 10,000 BTC have collectively accumulated more than 133,000 BTC, totaling over $7.6 billion. 🧐

Solana has seen worse declines before, but today’s trading could potentially set a new record with nine consecutive red days. 📉🤷

📊 Polymarket — a hidden gem?!

For August, Polymarket’s trading volume reached $470 million. 💰

Meanwhile, the entire NFT market across all networks totaled $378 million for the same month, falling $92 million short. 🤷

Exchanges are downplaying liquidations to keep traders from leaving 🧐

👀 Vetle Lunde from K33 Research suggests that over the past three years, Binance, Bybit, and other crypto exchanges have altered their liquidation reporting algorithms. This has led to an understatement of real trader losses. 📉

The motive? Fewer reported liquidations attract more traders and boost the exchanges' profits. 💰

Elegant Scam 🕺

🤠 Frontier recently converted their $FRONT tokens to $SLF as part of a rebranding effort.

▪️ The conversion was 1:1, but the total token supply increased fourfold!

Interestingly, only 11 wallets voted on the rebranding proposal, with no votes against it.

A single whale held 99% of the votes 🐳

Ah, the wonders of decentralization! 😁

Normal day in crypto