CoinDesk

Bitcoin has experienced a significant decline over the past month, with its value decreasing by 14% in just four weeks. This downward trend has persisted, as the cryptocurrency market continues to face challenges. Investors and analysts are closely monitoring the situation, as Bitcoin's performance often influences the broader cryptocurrency market.

Data from Bloomberg Intelligence reveals that spot funds experienced net inflows of $790 million, even as the price of bitcoin decreased by 7%. This information suggests that investors continue to show interest in bitcoin-related financial products, despite the cryptocurrency's recent price volatility.

The U.S. Supreme Court has issued a 6-3 ruling that significantly restricts the power of federal regulatory agencies. This decision overturns a 40-year-old legal precedent that had previously granted these agencies considerable latitude in interpreting and enforcing laws within their purview. The ruling represents a major shift in the balance of power between regulatory bodies and the entities they oversee.

Recent polling data indicates that President Joe Biden's likelihood of securing the Democratic nomination for the 2024 presidential election remains steady at 70%. Meanwhile, California Governor Gavin Newsom has seen a significant increase in his chances, now standing at 15%. This development suggests a potential shift in the Democratic primary landscape, with Newsom emerging as a more prominent contender.

A recent report highlights the need for a more robust regulatory framework for Ether and other digital assets. The report suggests that the narrative surrounding these assets is expected to improve as the United States approaches its election season later this year. This development underscores the growing importance of cryptocurrency regulation in the context of national politics and economic policy.

Expectations of lower U.S. interest rates were dashed once again, while a significant decline in the shares of the heavily speculated GameStop stock dampened sentiment in the cryptocurrency markets.

Recent economic data indicating softening inflation, coupled with interest rate cuts by the European Central Bank and the Bank of Canada this week, have led investors to reconsider their expectations regarding the Federal Reserve's monetary policy stance. Market participants are now speculating about the possibility of the Fed adopting a more dovish approach in response to these developments.

A bullish forecast has been released in anticipation of key U.S. economic data that could impact expectations for potential interest rate cuts by the Federal Reserve. The data, set to be unveiled soon, holds significant implications for the monetary policy outlook and market sentiment.

Core Scientific, a leading bitcoin mining company, has rejected an acquisition offer from CoreWeave. The board of directors believes that CoreWeave's proposed purchase price of $5.75 per share significantly undervalues the firm. Core Scientific is a prominent player in the bitcoin mining industry, and the board's decision suggests that they believe the company's long-term prospects justify a higher valuation.

Vitalik Buterin, the co-founder of Ethereum, addressed the recent decision by his firm to file a lawsuit against the U.S. Securities and Exchange Commission (SEC) during his keynote speech at the Consensus 2024 conference. Buterin provided insights into the rationale behind this legal action, which has garnered significant attention within the cryptocurrency and regulatory spheres.