- Daily Dispatch
- Posts
- Bitcoin bounces off $57,000 ⛹️♂️
Bitcoin bounces off $57,000 ⛹️♂️
Investors pulled cash out of Bitcoin ETFs last week, while exchange reserves hit a multi-year low.
Stephen Graves
September 02, 2024
IN PARTNERSHIP WITH
📝 What you need to know
Bitcoin tumbled to lows near $57,000 Monday morning, before bouncing back to settle above $58,000.
The decline in Bitcoin’s price over the past weekend came amid market anxiety around the upcoming release of the U.S. non-farm payroll data and its potential impact on the Federal Reserve's monetary policy.
The negative sentiment saw investors pull $319 million out of Bitcoin ETFs over the past week, though crypto exchanges’ BTC reserves hit a multi-year low, pointing to a potentially bullish long-term trend for the cryptocurrency.
From Our Partner
Galaxis's goal is to empower individuals to build an unstoppable community that’s truly their own, freeing them from third-party control. With a no-code platform, users can monetize their creativity, protect their digital spaces from deplatforming, and achieve true digital sovereignty.
Discover the cutting-edge infrastructure behind the iconic Trump NFTs! Explore how our technology powers the future of digital collectibles and stay ahead of the curve.
🎓 LEARN: Getting Started with Institutional Staking
Earn a free NFT by taking our course, “Getting Started with Institutional Staking,” in partnership with Figment. Learn all about how proof of stake blockchains work, how to earn rewards through staking, and the various staking solutions available to retail and institutional investors.
💬 Quote of the Day
“What Cardano has done is one of the greatest technical achievements in human history.”
Looking for a little Gangnam glamor during Korea Blockchain Week? Stop by Rug Radio and Decrypt’s Vibes in Seoul at People the Terrace on September 4. Expect the usual suspects: great cocktails, bites, and candid conversations with some of crypto’s leading minds. We’ll be there from 6pm to midnight.
