Michael Saylor, the executive chairman and co-founder of MicroStrategy, has shared a statistic on BTC price, revealing that Bitcoin is currently trading below its 200 Week Moving Average. This is a rare occurrence and is typically associated with a bullish wave, indicating that the cryptocurrency is trading at a buy zone with potential for upside. Saylor's technical analysis is unusual, as he typically speaks on the potential of the cryptocurrency.

As the bitcoin halving approaches, the hash price for bitcoin has dropped significantly from its yearly high in May. Miners were earning around $127 a day per PH/s on May 8, but as of August 28, they can only expect $59 a day per PH/s. The decline in hash price is due to several factors, including an increase in bitcoin difficulty and fluctuations in the price of bitcoin. <br>

According to an official announcement, HashKey Exchange has opened up deposit, withdrawal, and trading services for Bitcoin (BTC) and Ethereum (ETH) to retail investors. The exchange has also officially opened BTC/USD and ETH/USD trading pairs for retail investors.

According to a popular crypto analyst on social media platform X, Bitcoin is likely to experience a significant drop close to the $20,000 level before a surge above $50,000, marking the end of its downward trend. The analyst, Inmortal, believes that Bitcoin's current price action is similar to that of late 2019, when it fell from $10,000 to $6,000.

Bitcoin's price has remained stable above $26,000 over the past week, leaving investors uncertain about its next move. Some on-chain indicators suggest undervaluation for Bitcoin, but weakness persists on the charts. The NVM ratio, which measures the correlation between Bitcoin's market value and daily active users, has fallen below the threshold for undervaluation.

Today, the crypto market is mostly bearish with Bitcoin and major altcoins trading in the red. The fear and greed index has corrected slightly but remains in the fear zone with a score of 35/100. Bitcoin's price is still below $30,000 at $25,997.91, while Cardano and Solana experienced gains.

CryptoQuant.com summarized the changes in the Bitcoin market over the past year on the X platform (formerly Twitter). The data shows that over the past year, Bitcoin reserves on non-US centralized exchanges (CEX) such as Binance, OKX, and Bitfinex have increased by more than 10%. BTC reserves on US CEX such as Coinbase, Gemini, and Kraken have decreased by at least 30%, with the highest drop even exceeding 50%.

August 28th, according to Glassnode data, the current balance of Bitcoin on trading platforms is 2,256,045, reaching a new low in nearly 5 years.

CryptoQuant.com data shows that over the past year, Bitcoin reserves on non-US exchanges such as Binance, OKX, and Bitfinex have increased by over 10%. Meanwhile, BTC reserves on US exchanges such as Coinbase, Gemini, and Kraken have decreased by at least 30%, with some experiencing a drop of up to 50% or more. Institutions are continuously buying Bitcoin, as evidenced by withdrawal amounts and wallet access records.

The cryptocurrency market has seen some positive movement today, with Bitcoin and several major altcoins trading in the green. Although the fear and greed index remains in the fear zone, the market has increased over the past 24 hours, with a score of 34 out of 100. Bitcoin's price is still below the $30,000 threshold, but has increased by 0.03% since yesterday. While some altcoins have experienced losses, others have seen gains, such as Pepe coin, which is up by more than 6% in the last 24 hours.