First Mover Americas: Bitcoin Sits Around $58.5K at Start of Historically Bearish September

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First Mover Americas: Bitcoin Sits Around $58.5K at Start of Historically Bearish September
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Jamie Crawley is a CoinDesk news reporter based in London.

The largest cryptocurrency was trading around $58,600 at the time of writing, about 1% higher in 24 hours. The broader digital asset market has risen 0.9%%, according to CoinDesk Indices data, with ETH and SOL gaining around 1.9% and 0.5%, respectively. U.S.-listed exchange-traded funds tracking BTC posted total net outflows of $175 million on Friday, extending a losing streak to four days.

The chart shows that bitcoin miners' revenue fell in August to the lowest level since September 2023. This was accompanied by an increase in the bitcoin mining difficulty and decrease in the number of BTC mined.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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