1. Trump proposes repaying $35 trillion in US national debt with Bitcoin or "crypto checks". 2. Bitcoin once plummeted by 10%, global risk aversion

JIN10
2024.08.05 02:39
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Trump proposed repaying $35 trillion in US national debt with Bitcoin or "crypto checks", causing Bitcoin to plummet by 10%. Global risk aversion sentiment has impacted the cryptocurrency market. The value of Trump's cryptocurrency holdings has dropped below $7 million, a decrease of about 80%. The cryptocurrency market typically faces a seasonal downward trend in August. Cryptocurrency industry executives plan to meet with White House advisors. Hong Kong legislator Lin Lin suggested the introduction of a stablecoin pegged to the Hong Kong dollar. 10x Research believes that if the US economy deteriorates, Bitcoin may fall below $50,000. Ripple's second-quarter report shows a 65.6% decrease in transaction volume and a 168% increase in transaction costs

  1. Trump proposes to repay $35 trillion in national debt with Bitcoin or "crypto checks".

  2. Bitcoin once plummeted by 10%, impacting the cryptocurrency market amid global risk aversion.

  3. The value of Trump's cryptocurrency holdings has dropped below $7 million, a decrease of about 80% from the peak in early June.

  4. Coinbase Report: The cryptocurrency market typically faces a seasonal downward trend in August.

  5. Bloomberg: Cryptocurrency industry executives plan to meet with White House advisors this week.

  6. Analysis: ETH holds a "key area", and its next move may affect Bitcoin.

  7. The Bitcoin Strategic Reserve Act has been formally submitted to Congress and referred to the Senate Banking Committee for review.

  8. Hong Kong Legislative Council member Lin Lin: Stablecoins pegged to the Hong Kong dollar and backed by a variety of assets should be implemented expeditiously.

  9. 10x Research: If the U.S. economy deteriorates, Bitcoin may fall below $50,000.

  10. Ripple's second-quarter report: Transaction volume decreased by 65.6% compared to the previous quarter, while transaction costs increased by 168%.

  11. Analysis: Ethereum is currently at a critical support level, breaking below which could lead to a price decline to below $2,800.

  12. The "American Bitcoin Strategic Reserve Act" has been formally submitted to Congress and referred to the Senate Banking Committee for review

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