The FASB's recent accounting rule revisions are poised to provide a more favorable outlook for companies holding digital assets, helping them mitigate the unfavorable optics generated by impairment losses, as stated in the report.
A death cross signals a possible enduring shift towards a bearish momentum, while a golden cross implies the contrary.
The SEC was instructed last week to revisit its earlier denial of the Grayscale Bitcoin Trust (GBTC) conversion, with no automatic implication of approval.
Towards the conclusion of August, Bitcoin validated an overextended decline in its monthly stochastic indicator, a warning sign that has historically coincided with market pinnacles.
The regulatory authority has recently confirmed postponements for all six of the pending ETF applications.
The report noted that the news of SpaceX, led by Elon Musk, writing off a portion of its Bitcoin holdings in the previous quarter, played an added role in fueling the correction within the cryptocurrency markets in August.
The cryptocurrency exchange has announced that card services will be discontinued in the Middle East on August 25 and in Latin America on September 21.
The relative strength index of Bitcoin has significantly fallen below 30, marking its most pronounced oversold reading since March 2020.
CoinGecko's data indicates that both Bitcoin and Ether maintained their stability in the past 24 hours, as there were minimal fundamental catalysts driving market fluctuations.
Bitcoin experienced a decline of more than 10% in the previous week due to the surge in the yield of the 10-year inflation-indexed security, marking its highest point since 2009.
Funding rates plummeted across multiple exchanges, signaling a significant markdown in bitcoin perpetual futures.
Bitcoin prices took an abrupt nosedive on Thursday evening following news of massive sell-offs in the hundreds of millions, sparking a widespread downturn in both futures and spot markets.
The crypto markets experienced a significant decline on late Thursday, with Bitcoin (BTC) plummeting to as low as $25,000 on the Binance cryptocurrency exchange.
Customers utilizing Ledger Live, the platform's functionality enabling the purchase of cryptocurrencies using traditional currency, can now seamlessly link their PayPal accounts to the application.
The salary increases arrive just shy of two months following BitGo's decision to abandon its intention of acquiring struggling competitor, Prime Trust.
Jacobi initially gained approval for the fund in October 2021, intending to launch it in 2022. Nonetheless, the company chose to postpone its launch due to unfavorable conditions in other segments of the digital asset market.
The problem, known as 'Milk Sad,' came to light in late July thanks to the findings of cybersecurity company Distrust.
PLUS: The ongoing tragicomedy surrounding Sam Bankman-Fried took another turn on Friday as his bail was revoked. Even prior to this verdict, David Morris, a CoinDesk columnist, had already outlined why the final outcome was easily foreseeable.
The dollar value held within open SHIB futures contracts has exceeded $100 million, marking the first instance of such levels since February.
The regulatory body is currently examining over a dozen applications for spot Bitcoin and Ether futures-based ETFs.