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Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

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US stocks rallied on Thursday as the Dow Jones hit record highs, driven by better-than-expected GDP growth. Nvidia's stock fell over 3% due to unimpressive revenue projections, while other semiconductor stocks and ETFs like iShares Semiconductor ETF gained. Major indices and ETFs, including SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series, saw positive movements.

Portfolio Pulse from Piero Cingari

August 29, 2024 | 5:34 pm

Recent data from CryptoQuant shows significant Bitcoin wallet movements, potentially indicating market shifts. Large transfers of dormant bitcoins could signal selling pressure, while altcoin correlations with Bitcoin suggest market alignment. Investors should be cautious of potential volatility.

Portfolio Pulse from Khyathi Dalal

August 29, 2024 | 5:33 pm

Bitcoin has surged to $61,000, with experts analyzing pre-election patterns and ETF flows. Ethereum also saw gains, with notable inflows into Ethereum spot ETFs. In contrast, Bitcoin spot ETFs experienced significant outflows. Analysts highlight historical election-related price patterns for Bitcoin.

Portfolio Pulse from Murtuza Merchant

August 29, 2024 | 4:01 pm

Robinhood has integrated Solana into its Web3 wallet, expanding its cryptocurrency offerings. This move is part of Robinhood's broader strategy to strengthen its presence in the digital asset market, following acquisitions like Bitstamp and Pluto Capital. The expansion comes amid increased regulatory scrutiny.

Portfolio Pulse from Murtuza Merchant

August 29, 2024 | 3:48 pm

Iris Energy Limited (NASDAQ:IREN) shares surged after reporting strong fiscal-year 2024 results, with Bitcoin mining revenue increasing to $184.1 million. The company aims to achieve a 50 EH/s hash rate by 2025. Analysts have mixed price targets, with Canaccord Genuity maintaining a $15 target and HC Wainwright lowering it to $13.

Portfolio Pulse from Erica Kollmann

August 29, 2024 | 3:14 pm

Nvidia's pre-earnings performance has led to significant trading activity, with its ETFs splitting in pre-market. Despite Nvidia's Q2 earnings beat, AI crypto tokens have struggled. Meanwhile, MicroStrategy has outperformed Bitcoin and Ethereum, which have recovered from the FTX collapse.

Portfolio Pulse from Akanksha Bakshi

August 29, 2024 | 2:08 pm

Bitcoin's recent price action mirrors 2019, but analyst Benjamin Cowen suggests this pattern may change as market sentiment shifts. He highlights the potential influence of monetary policy, such as rate cuts, on Bitcoin's future performance.

Portfolio Pulse from Khyathi Dalal

August 29, 2024 | 1:46 pm

Kyle Samani of Multicoin Capital criticizes Ethereum's underperformance compared to Solana, citing issues with Layer-2 interoperability and value capture. He doubts Ethereum's potential as a store of value, suggesting its $300 billion valuation may be hard to justify.

Portfolio Pulse from Khyathi Dalal

August 29, 2024 | 1:24 pm

Iris Energy aims to reach 50 EH/s in Bitcoin mining by 2025, aligning with U.S. giants like CleanSpark, Marathon, and Riot. Despite exiting power trading and losing a partner, Iris is financially strong with $405M cash and no debt, but faces rising expenses.

Portfolio Pulse from Surbhi Jain

August 29, 2024 | 12:35 pm

The digital assets sector has rebounded from the FTX collapse, with MicroStrategy outperforming Bitcoin and Ethereum. The introduction of spot ETFs has driven institutional adoption, but challenges remain.

Portfolio Pulse from Murtuza Merchant

August 29, 2024 | 11:44 am

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