The recent drop in Bitcoin's value below $30,000 has impacted the profits of Short-Term Holders (STH), with their Spent Output Profit Ratio (SOPR) operating near 1. This means that current sellers are making little to no gains, despite the SOPR range supposed to act as a support zone following a bullish period. However, the relatively low SOPR ratio of 1.38 suggests that BTC could be considered closer to the bottom than the top, and STH are still making relatively close profits to Long-Term Holders (LTH). Additionally, the Market Value to Realized Value (MVRV) long/short difference is positive, indicating that STH will still make more gains than LTH.

Coinbase, the popular US crypto exchange, has announced the complete closure of its Borrow service. This service allowed retail customers to obtain cash loans by using Bitcoin as collateral. Coinbase had already suspended the disbursement of new loans in May and now wants all existing loans to be repaid by 20 November. The exchange claims that the closure is due to a lack of customer interest and that it regularly evaluates its products to prioritize those that customers care about the most. The closure of Borrow does not affect other services offered by Coinbase, such as Coinbase Prime Financing, and the exchange may eliminate other services in the future if they are used only by a few customers.

The couple accused of laundering billions of dollars worth of Bitcoin linked to the 2016 Bitfinex hack have agreed to a plea deal with US authorities. Court records show that Ilya Lichtenstein and Heather Morgan will appear in court on August 3 for an arraignment and hearing as part of the agreement.

Bitcoin's profit-taking led to a decline in the broader market, with tokens from major blockchains like SOL falling up to 8% in the past 24 hours. While traditional markets remained stable, Bitcoin fell below $30,000 during European hours on Friday, and Ether dropped over 3%. The introduction of a new digital assets oversight bill by U.S. House Republicans may have contributed to the selling pressure, as it aims to establish a regulatory framework to protect investors in the crypto sector. The drop in prices caused over $66 million in liquidations in the past 24 hours, with slightly over 70% of these liquidations on long positions.

Charles Edwards, the founder of Capriole Investments, believes that the BlackRock exchange-traded fund (ETF) will greatly benefit Bitcoin. While Bitcoin may be less of a sure bet on shorter timeframes, the overarching narrative of crypto becoming a recognized global asset class remains. Edwards predicts that Bitcoin will continue to steadily rise, but the relative value opportunity is slightly less as a result.

Bitcoin's price has been fluctuating between $29,500 and $32,000 since late June, with investors waiting for a potential upside breakout after multiple institutional spot ETF applications. However, approval of BlackRock's filing for a spot Bitcoin ETF is seen as a long shot by one analyst.

The implementation of Ethereum's proof-of-stake consensus mechanism, The Merge, has led to a significant reduction in its annual carbon footprint, resulting in a decrease of over 99% in carbon footprints and more than 99.9% in annual electricity consumption. In contrast, Bitcoin's carbon footprint has increased significantly over the past three years, with annual emissions estimated to surpass the yearly greenhouse gas emissions of countries like New Zealand and Cambodia.

Tesla has reportedly removed Bitcoin from the source code of its payment page, while Dogecoin remains as a payment option. This comes as a surprise to the crypto community, as Tesla's CEO Elon Musk has been a big supporter of Dogecoin. However, Tesla has not made an official announcement regarding this move. Despite this, Tesla's Bitcoin holdings remain unchanged in Q2 2023.

The crypto mining industry began on January 3, 2009, when Satoshi Nakamoto mined the first 50 Bitcoin. However, the future of miners is uncertain as the supply of Bitcoin is limited and once the cap of 21 million BTC is reached, they will no longer receive rewards. Transaction fees are expected to become the primary incentive for miners, but this shift may take years and the price of BTC in 2140 is unpredictable.

PeckShield Alert has reported an unusual delay in the mining of a Bitcoin block, resulting in unconfirmed transactions. The time difference between the two recent blocks mined by F2pool and Foundry USA was approximately 95 minutes, with Bitcoin's block time typically taking around 10 minutes. This is not the first time such circumstances have occurred, with a similar delay reported in October of last year.