Last week, Bitcoin experienced significant selling pressure after Tesla sold its $373 million worth of BTC holdings. Currently, Bitcoin is trading at $26,060 with a market cap of $507 billion. On-chain indicators and technical analysis suggest that the BTC price may continue to decline, potentially dropping to around $20,350.

According to the announcement made by Gyeonggi Province, South Korea today, the revision of the "Behavioral Norms for Gyeonggi Province Public Officials" has been completed. It requires public officials of level 4 or above in Gyeonggi Province to report their holdings of virtual assets such as Bitcoin before September 1st, and if necessary, to verify their relevance to their duties, and take preventive measures based on the information obtained to prevent them from seeking personal gain during their duties.

According to a report by Trust News, HashKey, a licensed virtual asset platform approved by the Hong Kong Securities and Futures Commission earlier this month, will launch a trading platform application for retail investors on August 28. Livio Weng, CEO of HashKey Group, stated in an interview that initially, retail investors can invest in Bitcoin and Ethereum, and investment in virtual assets will be limited to no more than 30% of total assets.

According to blockchain analysis platform Glassnode, since 2023, more than $16 billion in capital has flowed into Bitcoin, but the growth rate is weaker compared to the same period in 2021 and 2022. At the same time, Bitcoin's price volatility has dropped to its lowest point in history.

Gryphon Digital has requested the court to dismiss Sphere 3D's lawsuit, which claims that Sphere 3D suffered a loss of 500,000 US dollars in Bitcoin due to Gryphon Digital's influence. Gryphon Digital claims to be a victim of Sphere 3D because Sphere 3D's negligence led to a hacker attack on its system for fraudulent email sending. In addition to the allegation of asset transfer, Gryphon Digital has also made allegations of breach of contract, negligence, and defamation. 

Billy Markus, co-founder of Dogecoin, recently interacted with the crypto community on social media platform X, revealing his personal preferences for virtual currencies and disclosing the technical foundation of Dogecoin. Markus emphasized the importance of cautious investment and stated that his first principle for investing in cryptocurrencies is to never invest more than you are willing to burn in the fire. In addition, Markus revealed that he favors Bitcoin (BTC) and Ethereum (ETH), the two leading cryptocurrencies in terms of market value. Markus expressed his opinion on Dogecoin straightforwardly, likening it to "Bitcoin wearing a dog costume" and emphasizing the fun spirit of Dogecoin.

Data shows that the Bitcoin hash rate has reached a new 7-day average high of 414 EH/s.

Cointelegraph analyst and writer Marcel Pechman analyzed the impact of the Federal Reserve's balance sheet and how it expanded its assets by $5 trillion between December 2019 and April 2022. Pechman pointed out that the expansion period coincided with a 38% drop in the S&P 500 index. Additionally, as the stock market index hit a historic high of 4800 points, the Federal Reserve's balance sheet surpassed the $8.9 trillion mark. Pechman stated that the problem lies in the massive deficit of the US Treasury, as government spending exceeds income and taxes. Therefore, it needs to start rolling over some of its debt instead of letting it mature, making it likely that it will no longer be able to continue reducing its balance sheet, which has been a huge factor in reducing inflation. Pechman believes that once the Federal Reserve is forced to expand its balance sheet again, inflation will ultimately be most affected. He advises those holding scarce assets such as Apple stocks, land, gold, and Bitcoin to hold on tight and not be deceived by temporary inflation drops.

Joe Burnett, the chief analyst and product manager of BlockwareTeam, stated on social media that Bitcoin may not undergo any significant changes in the next 100 years, and all Layer2 expansion solutions may be ineffective, but it will still become a $10 trillion asset, which is about 20 times higher than $26,000.

Citing people familiar with the matter, the U.S. Securities and Exchange Commission (SEC) may approve multiple Ethereum futures exchange-traded fund (ETF) applications at the same time. Since July, regulatory agencies have received a large number of applications from investment companies, including requests combining futures Bitcoin (BTC) and Ethereum strategies. As of now, the U.S. Securities and Exchange Commission has not instructed these companies to withdraw their applications, which is different from similar applications being instructed to withdraw by companies in 2021. According to sources from The Wall Street Journal, this indicates that regulatory agencies will not prevent the launch of the fund within a few weeks. At least 16 Ethereum or Bitcoin-Ethereum futures ETF applications are waiting for regulatory approval.