Bitcoin finished the week with growth against the backdrop of declining inflation in the US. The crypto index of fear and greed has left the state of fear. Crypto whales are buying up Ethereum ahead of the September update. Meanwhile, the head of Euro Pacific Capital believes that bitcoin will soon fall below $10,000. Bitcoin has risen by 4.5% over the past week, ending it near $24,300 amid a resumption of growth in stock indices. BTC tested two-month highs around $25,000. The growth of risky assets was facilitated by weak US inflation data released in the middle of the week. Ethereum jumped 12.8% to $1940. The Cryptocurrency Fear and Greed Index rose 17 points in a week to 47 and moved from “fear” to neutral. The EthereumPoW (ETHPow) project announced the readiness of the codebase and the widespread support for the future fork of the Ethereum network from miners, hardware manufacturers and the crypto community. The transition of Ethereum to PoS will take place on September 15 or 16, which is 3-4 days earlier than the previously estimated date. According to Santiment, crypto whales and institutions are buying up ETH ahead of the September update. The ex-head of MicroStrategy, Michael Saylor, said that despite the crisis in the crypto market, bitcoin has outperformed all assets in the long run and in the future the first cryptocurrency will remain reliable. The development of AML and KYC has made it difficult to use cryptocurrencies for illegal transactions and this has attracted new investors to the industry, according to the analytical company Coinfirm. Maximiliano Ince, CEO of Binance Latin America, said that the sharp rise in inflation in the region has pushed people to trade cryptocurrencies. Well-known bitcoin critic Peter Schiff believes that BTC will soon fall below $10,000 and encourages investors to invest in gold. In his opinion, BTC will never again be able to reach the previous record highs of about $69,000. The creators of the anonymous cryptocurrency Monero carried out another hard fork of the network, as a result of which the block size was reduced, and the speed and confidentiality of transactions increased. Cybersecurity firm Netskope has warned digital asset owners of an increase in SEO phishing attacks on Google Sites and Microsoft Azure. The Bank of Russia published a draft of the main directions of the unified state monetary policy for 2023 and the period 2024-2025, where it announced that the introduction of the digital ruble would begin in 2024. Source: FXPro

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