BTC short-term peak signal appears, 90 minute cycle alert for pullback risk

BlockBeats news, on August 5th, according to Decrypt, Coinbase CEO Brian Armstrong stated during last Thursday's earnings conference call that the company will continue to offer USDC holding rewards to users, and called the program an important differentiation advantage to attract users. Although the GENIUS Act prohibits stablecoin issuers from paying interest or income, Armstrong clarified that "we are not issuers, nor are we paying interest, but rewards. Coinbase currently offers an annualized yield of 4.1% on USDC deposits to US users. This bill only applies to issuers, such as Circle, the issuer of USDC, and does not prohibit trading platforms from providing rewards. A Senate staff member explained that the bill aims to prevent stablecoins from being seen as traditional deposit tools. In addition, PayPal is also promoting a similar strategy by offering a 3.7% annualized return to users holding its stablecoin PYUSD to attract more customers.

According to a report by Golden Finance, Unitronix Corp, a US listed company, announced that it has invested over $600000 to increase its holdings of 5.5 bitcoins to expand its Bitcoin treasury. In addition, it has also announced the establishment of a strategic Bitcoin mining partnership, using Bitcoin as a long-term macro hedging tool. Unitronix Corp has previously released a cryptocurrency investment portfolio strategy, intending to invest in BTC, ETH, SOL, and Meme coins.

OKX-BTC/USDT is currently trading at $115012, with a 5-minute increase of 0.10%. Please be aware of market fluctuations.

BlockBeats news, on August 5th, according to Bloomberg, the US Securities and Exchange Commission (SEC) is further advancing on the basis of preliminary cryptocurrency accounting rules, issuing a new staff guideline stating that certain stablecoins can be treated as cash. This temporary guidance comes at a time when the SEC is developing regulatory rules for encrypted securities. Under the leadership of SEC Chairman Paul Atkins, the committee has begun to gradually roll back some stricter policies, including accounting guidelines previously believed to hinder traditional lending institutions from entering the cryptocurrency market. According to the latest guidelines, holding certain stablecoins pegged to the US dollar can be classified as cash equivalents if these stablecoins have guaranteed redemption rights and their value is anchored to another type of asset.

According to Forbes, data from Blockforce Capital shows that Bitcoin price volatility dropped to its lowest level in over a year in July. As of July 30th, the 60 day annualized volatility of Bitcoin has dropped to 28.53%, the lowest level since August 2023; The 30 day annualized volatility also fell to 25.26% on July 23, hitting a new low since October 2023. The price of Bitcoin fluctuated between $105000 and $122750 for the month. Market analysis suggests that the decrease in volatility is closely related to the progress of US cryptocurrency regulation: in July, the House of Representatives passed three cryptocurrency regulation bills, among which the stablecoin innovation bill has been signed into effect by the President; The SEC has released new regulations for Exchange Traded Products (ETPs) and expressed support for securities tokenization innovation. The gradual clarification of regulatory environment has reduced market uncertainty.