Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Public miners have turned to debt financing as the cash crunch continues post-halving. Upcoming options expiries may force Bitcoin below a key support level. Meanwhile, the majority leader of the United States Senate has promised to make it his goal to pass pro-crypto legislation if Kamala Harris is elected president this year.
A lot of analysts predicted the 2024 halving event might cause some friction for miners as rewards decreased and their premonitions seem to be coming true. According to data from BlocksBridge Consulting, nine of thirteen listed US mining firms have turned to debt financing as Q2’s woes continued through Q3.
Complicating matters further, Bitcoin’s price has trended south since the halving with brief respite in the form of clawbacks but, so far, the first half of August has seen mostly sub-60K prices.
