The hashrate of bitcoin has reached a new high of 700 EH/s, showing a 6% increase in the past seven days. The hashprice of bitcoin has also risen to $50 PH/s, which is a two-month high, due to the increase in mining profitability caused by a rise in transaction fees and bitcoin's price. The seven-day moving average of bitcoin's hashrate has reached an all-time high of 703 EH/s, according to Glassnode data.

Title: Electronic Cash Without a Trusted Third Party

Golden Finance reported that QCP released a weekly summary stating that this week was an exciting one for cryptocurrency. BTC rose by 10.48%, reaching a high point of $69,000, and the psychological barrier of $70,000 is now within reach. There are no major macro data as resistance next week.

US prosecutors revealed that two young men were accused of planning one of the largest cryptocurrency thefts in US history. After stealing $230 million worth of Bitcoin, they began to spend extravagantly. However, at least $100 million of the stolen Bitcoin is still missing, according to the judge. Authorities believe that this cryptocurrency theft may be related to another crime.

Golden Finance reported that Bitwise's Chief Investment Officer, Matt Hougan, posted on X platform that 7 factors may drive Bitcoin to reach $100,000, including:

According to a report by Aspen Digital, crypto assets are becoming increasingly popular among Asian private wealth managers, as 76% said they are investing in cryptocurrencies.

The Bitcoin industry could be in for yet another four years of harassment and attacks if Kamala Harris is elected president.

According to the world's largest prediction market, Polymarket, the pro-Bitcoin candidate for the upcoming presidential election, Donald Trump has taken a 13% lead over Kamala Harris.

OKX announced a grant to the Bitcoin developer fund 2140 Foundation. The specific amount of the grant has not been disclosed, and this funding is intended to promote the long-term security, resilience, and maintainability of the Bitcoin network. As part of its ongoing funding program, OKX has provided nearly $2 million in Bitcoin developer grants, with a focus on developing the developer ecosystem, as well as Bitcoin security and adoption.

Bitcoin is approaching its longest period of sideways market range since the April halving, currently at 285 days. Contributing factors include uncertainty surrounding the U.S. election, rising U.S. Treasury yields, and the extension of Mt. Gox's repayment deadline to October 2025. Despite historically bullish trends for Bitcoin in October, the lackluster price action has left bulls disappointed. If there is no bull market in the next two weeks, this will mark the longest post-halving sideways period in Bitcoin's history.

1.VanEck and 21Shares Solana ETF Form 19b-4 Suspected to be Removed from CBOE Website

A federal judge in Brazil has ordered the criminal charges against the late CEO of Mirror Trading International (MTI), Johann Steynberg, for his involvement in a Bitcoin Ponzi scheme to be dropped after police investigations confirmed his death. Steynberg's death certificate has been added to the case file. Following the disclosure of this news, some victims immediately made defamatory remarks about these claims. Some believe that Steynberg may have faked his death. At the time of his death, Steynberg's death certificate showed that he suffered from acute respiratory failure. (Bitcoin.com) In May, the South African National Prosecuting Authority (NPA) was investigating the accomplices of the Bitcoin Ponzi scheme, Mirror Trading International (MTI), which was orchestrated by the late Johann Steynberg. NPA media relations manager Isaac Dludlu said the prosecution is considering several charges against those involved, including fraud and forgery.

On August 17th, Turingbitchain (TBC), a Bitcoin smart contract layer, released the Turingcontract.com smart contract development platform based on the native Bitcoin UTXO model.

IntoTheBlock stated in an article on X that the US government recently seized $600 million worth of Bitcoin from the dark web Silk Road and transferred it to Coinbase Prime. Although depositing to an exchange usually means selling, this transfer may be for custody purposes. Wallets associated with the US government still hold nearly $1.2 billion worth of Bitcoin.

According to Coinglass data, the total Bitcoin futures open interest on the entire network has reached 28.57 billion US dollars, an increase of 1.23% in the past 24 hours.<br>In addition, the total Ethereum futures open interest on the entire network has reached 10.668 billion US dollars, an increase of 2.54% in the past 24 hours.

According to Whale Alert monitoring, 873 BTC (worth $53,228,550) was transferred from Antpool to an unknown wallet.

Glassnode data shows that Bitcoin's MVRV Z-Score indicates that it is closer to being undervalued, reflecting potential buying opportunities. In the past year, this indicator has fluctuated greatly, reflecting the price trend of Bitcoin volatility.

According to Coinglass data, the total liquidation across the entire network in the past 24 hours was $198 million, with long positions liquidated at $161 million and short positions liquidated at $36.83 million. Among them, Bitcoin liquidated at $57.1 million and Ethereum liquidated at $46.25 million.

MicroStrategy is seeking to sell its Class A shares to raise up to $2 billion to purchase more Bitcoin and for general corporate purposes.In regulatory filings filed with the U.S. SEC, MicroStrategy did not disclose a timetable for stock sales or how much proceeds would be used to purchase Bitcoin.Earlier in June this year, MicroStrategy announced the issuance of $500 million unsecured senior convertible notes to purchase more Bitcoin, and one day later raised the issue price to $700 million.

Senator Cynthia Lummis introduced the bill on July 31, which would direct the US government to start a reserve Bitcoin fund.