Bitcoin Breaks the $60,000 Mark
On August 9, the first cryptocurrency, Bitcoin, hit the $60,000 mark, rising temporarily to $62,000, followed by a correction. At the time of writing, Bitcoin was trading around $60,800, up 6.5% overnight with a market capitalization of $1.2 trillion. It was followed by other crypto assets such as Ethereum and BNB, which also showed gains.
The market activity was marked by a large volume of position liquidations, reaching $221 million, of which most of it came from short positions. Bitcoin's sharp rise happened after a recent drop to the $49,000 level, which sparked interest from traders pointing to a possible bullish signal. Analysts such as Matthew Hyland and Caleb Franzen point out that Bitcoin could face resistance from its 200-day moving average.
Some experts caution against optimism: charts rarely show a smooth recovery from sharp declines, and upcoming price swings remain likely. Nevertheless, the rise in all financial markets could signal the start of a new rally for cryptocurrencies.
#fuji_venture #digest
On August 9, the first cryptocurrency, Bitcoin, hit the $60,000 mark, rising temporarily to $62,000, followed by a correction. At the time of writing, Bitcoin was trading around $60,800, up 6.5% overnight with a market capitalization of $1.2 trillion. It was followed by other crypto assets such as Ethereum and BNB, which also showed gains.
The market activity was marked by a large volume of position liquidations, reaching $221 million, of which most of it came from short positions. Bitcoin's sharp rise happened after a recent drop to the $49,000 level, which sparked interest from traders pointing to a possible bullish signal. Analysts such as Matthew Hyland and Caleb Franzen point out that Bitcoin could face resistance from its 200-day moving average.
Some experts caution against optimism: charts rarely show a smooth recovery from sharp declines, and upcoming price swings remain likely. Nevertheless, the rise in all financial markets could signal the start of a new rally for cryptocurrencies.
#fuji_venture #digest
Digest: top venture news of the past day
🧫 Halda, a biotech startup developing targeted therapies to treat cancer, has raised $126M.
⚡️ Kazam, an Indian company specializing in electric vehicle charging stations, has attracted $8M.
💼 Hyperbots, a fintech startup creating AI tools for business management, has raised $2M.
🚢 EyeROV, working on autonomous water transportation technologies, has received an investment of $1.2M.
#fuji_venture #digest
🧫 Halda, a biotech startup developing targeted therapies to treat cancer, has raised $126M.
⚡️ Kazam, an Indian company specializing in electric vehicle charging stations, has attracted $8M.
💼 Hyperbots, a fintech startup creating AI tools for business management, has raised $2M.
🚢 EyeROV, working on autonomous water transportation technologies, has received an investment of $1.2M.
#fuji_venture #digest
Risks of bitcoin correction
A "death cross" pattern has formed on the bitcoin chart, which is often seen as a signal of impending price decline. This formation occurs when the 50-day moving average crosses the 200-day moving average from top to bottom, which has historically preceded sell-offs. Sergey Gorev of YouHodler noted that the increased volatility caused by the launch of the BTC-ETF could exacerbate the situation, especially over the weekend, when trading activity on stock markets is down.
Analyst Valentin Fournier of BRN warns that despite bitcoin's potential short-term gains, the market remains vulnerable. He recommends cautiously increasing positions as there is a risk of the price returning to the lower range. Fournier also points to a decline in open interest, suggesting a decline in investor confidence, as well as weak trading activity over the weekend, which could exacerbate volatility.
Additional pressure on the bitcoin market could come from events related to the Fed's monetary policy changes and the upcoming U.S. election. David Lowant of FalconX noted that a possible Fed rate cut in September could increase interest in risk assets, including cryptocurrencies. However, uncertainty surrounding the election and the stance of the candidates could negatively impact the market.
#fuji_venture #digest
A "death cross" pattern has formed on the bitcoin chart, which is often seen as a signal of impending price decline. This formation occurs when the 50-day moving average crosses the 200-day moving average from top to bottom, which has historically preceded sell-offs. Sergey Gorev of YouHodler noted that the increased volatility caused by the launch of the BTC-ETF could exacerbate the situation, especially over the weekend, when trading activity on stock markets is down.
Analyst Valentin Fournier of BRN warns that despite bitcoin's potential short-term gains, the market remains vulnerable. He recommends cautiously increasing positions as there is a risk of the price returning to the lower range. Fournier also points to a decline in open interest, suggesting a decline in investor confidence, as well as weak trading activity over the weekend, which could exacerbate volatility.
Additional pressure on the bitcoin market could come from events related to the Fed's monetary policy changes and the upcoming U.S. election. David Lowant of FalconX noted that a possible Fed rate cut in September could increase interest in risk assets, including cryptocurrencies. However, uncertainty surrounding the election and the stance of the candidates could negatively impact the market.
#fuji_venture #digest
Digest: top venture news of the past day
🚀 Indian instant delivery service from Zepto stores has raised $340M.
💰 Setpoint, a startup building a platform for expediting credit transactions, has attracted $31M.
📊 Encord, developers of a data preparation tool for AI models, has raised $30M.
🚄 Intramotev, a startup that developed TugVolt, an electric rail platform for automated freight sorting, has attracted $14M.
🎮 FRVR, a startup using AI to accelerate video game development, has raised €11.6M.
#fuji_venture #digest
🚀 Indian instant delivery service from Zepto stores has raised $340M.
💰 Setpoint, a startup building a platform for expediting credit transactions, has attracted $31M.
📊 Encord, developers of a data preparation tool for AI models, has raised $30M.
🚄 Intramotev, a startup that developed TugVolt, an electric rail platform for automated freight sorting, has attracted $14M.
🎮 FRVR, a startup using AI to accelerate video game development, has raised €11.6M.
#fuji_venture #digest
Bitcoin Accumulation Intensifies
Following bitcoin's sharp drop in early August, Glassnode analysts have noticed a clear resurgence of accumulation among long-term holders. According to the platform, the Accumulation Trend Score (ATS), which measures the dynamics of balances, has reached its peak, indicating a significant increase in interest in long-term BTC investments.
Large wallets associated with ETFs are particularly active, indicating a strategic approach to accumulation. Despite the volatility, bitcoin has steadily held its price above the average acquisition cost of active coins, which confirms the bullish sentiment in the market.
Also, experts noted that hodlers are in no hurry to part with assets, expecting higher prices. This creates conditions for further growth, as most of the market supply remains frozen in anticipation of new highs.
#fuji_venture #digest
Following bitcoin's sharp drop in early August, Glassnode analysts have noticed a clear resurgence of accumulation among long-term holders. According to the platform, the Accumulation Trend Score (ATS), which measures the dynamics of balances, has reached its peak, indicating a significant increase in interest in long-term BTC investments.
Large wallets associated with ETFs are particularly active, indicating a strategic approach to accumulation. Despite the volatility, bitcoin has steadily held its price above the average acquisition cost of active coins, which confirms the bullish sentiment in the market.
Also, experts noted that hodlers are in no hurry to part with assets, expecting higher prices. This creates conditions for further growth, as most of the market supply remains frozen in anticipation of new highs.
#fuji_venture #digest
Digest: top venture news of the past day
🧑💻 Sahara Labs, a startup creating AI tools for personal and business use, has raised $37M.
💸 Flexiloans, an Indian startup that provides funding to small and medium-sized businesses, has attracted $35M.
💳 FinTech platform Syfe, which helps users manage finances and invest, has raised $27M.
🔋 Flower, a startup focused on making battery stations to stabilize electrical grids, has attracted €25M.
👨💻 CodeRabbit, a platform that uses AI to detect bugs in program code, has raised $16M.
#fuji_venture #digest
🧑💻 Sahara Labs, a startup creating AI tools for personal and business use, has raised $37M.
💸 Flexiloans, an Indian startup that provides funding to small and medium-sized businesses, has attracted $35M.
💳 FinTech platform Syfe, which helps users manage finances and invest, has raised $27M.
🔋 Flower, a startup focused on making battery stations to stabilize electrical grids, has attracted €25M.
👨💻 CodeRabbit, a platform that uses AI to detect bugs in program code, has raised $16M.
#fuji_venture #digest
Binance Resumes Operations in India
Binance has re-entered the Indian market by registering as an "accountable organization" with the Financial Intelligence Unit of India (FIU). The registration underscores the exchange's commitment to adhering to the country's anti-money laundering standards.
Binance's return to India comes after regulators blocked the activities of a number of crypto platforms, including Binance, in January. The exchange also agreed to pay a fine of Rs. 188.2 million (~$2.2 million), reiterating its intention to follow local regulations.
The exchange also agreed to pay a fine of Rs. 188.2 million (~$2.2 million), confirming its intention to follow local regulations. Binance's CEO, Richard Teng, called the registration "an important milestone", which was the 19th global agreement with regulators.
#fuji_venture #digest
Binance has re-entered the Indian market by registering as an "accountable organization" with the Financial Intelligence Unit of India (FIU). The registration underscores the exchange's commitment to adhering to the country's anti-money laundering standards.
Binance's return to India comes after regulators blocked the activities of a number of crypto platforms, including Binance, in January. The exchange also agreed to pay a fine of Rs. 188.2 million (~$2.2 million), reiterating its intention to follow local regulations.
The exchange also agreed to pay a fine of Rs. 188.2 million (~$2.2 million), confirming its intention to follow local regulations. Binance's CEO, Richard Teng, called the registration "an important milestone", which was the 19th global agreement with regulators.
#fuji_venture #digest
Digest: top venture news of the past day
🔬 BioTech company Xaira, which uses AI to develop new synthetic compounds, has raised $1B.
👩⚕️ MedTech startup Caresynta, which created a system to monitor patients during surgeries, has raised $180M.
🩺 HistoSonics, a MedTech startup that has developed a device for non-invasive cancer treatment, has raised $102M
💻 Akeana, a startup working on processors based on RISC-V architecture, has raised $100M.
#fuji_venture #digest
🔬 BioTech company Xaira, which uses AI to develop new synthetic compounds, has raised $1B.
👩⚕️ MedTech startup Caresynta, which created a system to monitor patients during surgeries, has raised $180M.
🩺 HistoSonics, a MedTech startup that has developed a device for non-invasive cancer treatment, has raised $102M
💻 Akeana, a startup working on processors based on RISC-V architecture, has raised $100M.
#fuji_venture #digest
IMF Proposes New Tax on Miners
IMF experts, Shafiq Hebus and Nate Vernon-Lin, have proposed to tax cryptocurrency mining and data center operations at $0.047 per kWh, which would increase the cost of electricity by 85%.
They estimate that by 2025, mining and data centers will consume up to 3.5% of the world's energy, equivalent to Japan's current level. These measures could reduce carbon emissions by 100 million tons and generate $5.2 billion in annual revenue for governments.
However, experts emphasize the need for global coordination of these efforts to avoid businesses migrating to other countries with lower tax rates.
#fuji_venture #digest
IMF experts, Shafiq Hebus and Nate Vernon-Lin, have proposed to tax cryptocurrency mining and data center operations at $0.047 per kWh, which would increase the cost of electricity by 85%.
They estimate that by 2025, mining and data centers will consume up to 3.5% of the world's energy, equivalent to Japan's current level. These measures could reduce carbon emissions by 100 million tons and generate $5.2 billion in annual revenue for governments.
However, experts emphasize the need for global coordination of these efforts to avoid businesses migrating to other countries with lower tax rates.
#fuji_venture #digest
Digest: top venture news of the past day
🔐 Fabric, a startup that has developed a specialized chip to protect and encrypt data, has raised $33M.
⚡️ Electric motorcycle maker E Daddy has attracted $15M.
🩺 MedTech startup Flatiron, which has created a device to continuously monitor glucose levels, has raised $10M.
🌍 German startup Root, which helps food companies reduce emissions, has attracted €8M.
#fuji_venture #digest
🔐 Fabric, a startup that has developed a specialized chip to protect and encrypt data, has raised $33M.
⚡️ Electric motorcycle maker E Daddy has attracted $15M.
🩺 MedTech startup Flatiron, which has created a device to continuously monitor glucose levels, has raised $10M.
🌍 German startup Root, which helps food companies reduce emissions, has attracted €8M.
#fuji_venture #digest