On August 9, it was reported that Irish police seized about 7.10 million dollars (about 6.50 million euros) worth of cryptocurrency in a raid in north Dublin. The operation was part of a major investigation into money laundering and illegal transactions in dark web markets, culminating in the arrest of three people, two men suspected of assisting a criminal organization to commit serious crimes, and another woman facing money laundering charges. National Cyber Crime Agency of Ireland Detective S...
Global stock markets continue to recover from the sell-off, with the Bank of Japan unexpectedly "capitulating" and temporarily restraining the strong yen. This round of stock market declines may be a correction to high-priced stocks, or it may be the beginning of a reckoning with easy money... > >
The Bitcoin Miner Surrender Indicator is near the bottom of the market after the FTX crash. CryptoQuant data shows that daily miner revenue has fallen to $29 million from $79 million earlier this year, representing a 7.7% decrease in hashrate since the halving. Bitcoin is currently trading at $60,300, down 13% in the past 30 days. CryptoQuant believes that the market may rebound again to near $70,000 as the selling pressure intensifies. The significant decline in daily miner revenue and hashrate...
Analysts have pointed out that bitcoin prices are expected to rebound only after miners surrender and network hashrate recovers. Willy Woo, an independent analyst, said the key to the current decline in bitcoin prices is the exit of "weak holders", including inefficient miners running outdated hardware and high costs. Wu believes that with the restructuring of the miner industry and hardware upgrades, prices may stabilize and are expected to rise. However, the current capitulation process is lon...