Ah, Dogecoin, the eldest of this trifecta, bearing the weight of its market capitalization like a crown both glorious and burdensome. When it stirs, the earth trembles-or so the tale goes. Gazing upon the daily chart, one observes the price, with a persistence both comical and admirable, transforming the $0.245 resistance into a foundation. 🏰
Padmanabhan even suggested that regulators retreat into closed-door meetings-presumably with dim lighting and strong coffee-to hash out the details of stablecoin regulation. And why not? It’s not like India can afford to ignore what the rest of the world is doing, especially now that the US has decided to flex its e-currency muscles. Oh, America, always setting trends we’re forced to follow.
In the last week, Dogecoin has surged by 16%, and the last 30 days show a respectable 12% increase. The charts, those cryptic little fortune tellers, say that there might be a 50% rally in the air if this ETF hype continues. But hold on-there’s a storm brewing just behind the rainbow.
The PPI reading for August, which came in at -0.1%, was indeed a delightful surprise for the US economy. Analysts had anticipated a modest increase of +0.3%, making this a truly positive development, indicating that the tariffs had yet to exert their full influence. On Thursday, all eyes turn to the Consumer Price Index (CPI) release, where the consensus is also for a +0.3% rise in August. With the Federal Reserve poised to consider raising interest rates next week, it is crucial that this figure does not exceed expectations, lest it cause a stir in the markets and, consequently, in the tender heart of Bitcoin. Should the market suffer from a negative inflation report, Bitcoin is likely to feel the pinch as well. Yet, with the prospect of rate cuts on the horizon, this downturn may prove to be but a fleeting moment of distress. 🌸
Just as Bitcoin’s price now lounges above the $100,000 mark with the nonchalance of a Bright Young Thing at a country house party, the network’s computational prowess has been strutting about the 1 zettahash per second (ZH/s) threshold. Metrics, those tedious but necessary beasts, reveal a peak of 1,027 EH/s, according to the seven-day simple moving average (SMA) tracked by Luxor’s hashrateindex.com. A triumph, no doubt, for the digital proletariat.
How will they do this marvelous labor? Not with oxen or plows, nor even with the sweat of the brow, but by a device so arcane that only learned folk dare discuss it over tea: the smart contract. Under the benevolent gaze of Hong Kong’s Cyberport program-presumably named because someone believed cyber-things must port somewhere-Chainlink’s code shall scurry to and fro, streamlining investor orders and tending to funds as a Russian grandmother sweeps her porch.
Now, on September 10, Linea-this big deal Ethereum Layer 2 scaling solution-finally got listed on Binance, Bybit, and some others. They’re like coming to the cooler kid’s birthday party, hoping for an invite. Ooooh, excitement! 🎉
After months of languishing below 60, this index finally broke free, like a prisoner escaping a 100-year sentence. Though the 75 mark remains a distant dream, other indicators scream: “Funds are fleeing Bitcoin, rushing to altcoins like moths to a flame 🔥.”
The root of this here ruckus, as near as anyone can tell, is Grayscale filin’ for a Litecoin ETF. They’re already messin’ with Bitcoin and Ethereum ETFs, and now they’ve gone and added LTC to the mix. Makes a body wonder what they’re up to…
During the drowsy Asian morning hours – who knew Asia had ‘morning’? – Bitcoin flirted around $114,200, flexing 2.4% over 24 hours, as strong as a martian martini!
