Bitcoin fails to top $80,000 as analysts debate whether BTC has truly changed its trend or remains in the grasp of the bears. Key points: Bitcoin (BTC) attempted to rise above $79,500, but the bears held their ground. BTC investor and author Michael Terpin told Cointelegraph that BTC risks falling to $57,000 in October 2026, based on a study of the “historical average” drawdown of about 1 year from a market-cycle top. Terpin added that BTC will have to rise above $100,000 for the bull market to resume. Another negative view came from Bitcoin analyst Matthew Hyland, who said in a post on X that the “larger expected consensus outcome for BTC is another leg lower by October.” Veteran trader Peter Brandt also opined in an X post that BTC may form “an investable low” in September or October. Read more
The crypto treasury company continues to buy Ether and earn staking rewards, even as price swings leave billions in unrealized losses on its balance sheet. BitMine Immersion Technologies, the Ether treasury company backed by Fundstrat’s Tom Lee, has expanded its ETH holdings for the second time in as many weeks, even as large unrealized losses underscore the strategy’s risks. The company said Monday it purchased an additional 101,901 Ether last week, bringing its total holdings to roughly 5.08 million ETH. Its combined crypto and cash reserves now stand at about $13.3 billion. Read more
The European Commission made its move in response to Russia's increasing reliance on crypto transactions to circumvent sanctions amid the country's war on Ukraine. The European Commission announced a package of crypto-related sanctions against Russia in response to the country’s military actions against Ukraine. In a Thursday notice, the commission said the sanctions targeted Russia’s energy and financial sectors, including a “total sectorial ban on carrying out exchanges with any Russian crypto asset service provider as well as any decentralised platforms enabling crypto trading” that could be used to circumvent the measures. The EC, composed of 27 member states in the European Union, also prohibited the use of stablecoins pegged to the Russian ruble and the central bank digital currency (CBDC) under development by the Central Bank of Russia. Read more
Bitcoin bulls struggled to maintain gains as the bull market support band became a key reclaim level to flip the BTC price trend. Bitcoin (BTC) fell more than 2% on Monday as US-Iran war nerves again guided macro markets. Key points: Data from TradingView showed BTC/USD hitting local lows of $76,567 on Bitstamp, giving back earlier gains. Read more
As Bitcoin miner IREN shifts toward AI cloud infrastructure, leveraging a Microsoft deal and GPU expansion, analysts expect mining revenue to decline over time. IREN could become the next major Bitcoin miner to transition into AI infrastructure following its multi-billion-dollar deal with Microsoft, underscoring a broader shift in mining economics, according to a new research report from Bernstein. The Bernstein analysts point to IREN’s rapidly expanding AI cloud division, where around 150,000 GPUs are already contracted, supporting an estimated $3.7 billion in annual revenue run rate once fully functional. A significant portion of this capacity is tied to a long-term agreement with Microsoft, which has committed to using GPU capacity for AI workloads over five years. The deal also includes substantial customer prepayments, helping fund the infrastructure buildout. Read more