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Bitcoin plunged after US Treasury Secretary Scott Bessent ruled out government purchases for the Strategic Bitcoin Reserve, sparking over $1 billion in crypto liquidations—and then he backtracked. During a Fox Business interview, Bessent initially said the Treasury would not be buying Bitcoin for its strategic reserve, sending Bitcoin to a 24-hour low of $117,254. “We’ve also started to get into the 21st century, a Bitcoin reserve,” Bessent said during an interview with Fox Business. “ We’re not going to be buying that, but we are going to use confiscated assets and continue to build that up.”  Long positions on Bitcoin and Ethereum were hit hardest, wiping out more than $500 million combined. Sentiment was already vulnerable after a hotter-than-expected Producer Price Index (PPI) inflation. W holesale prices soared 0.9% in July, far above analyst estimates, sparking fears that a potential interest rate cut would be postponed. Then cam...

Cryptocurrency exchange Binance has opened Bitcoin (BTC) options writing access to all users, responding to increased retail demand for strategic trading tools, according to information communicated to Finbold on August 4.  The expansion allows users to express market views, manage risk, earn premiums, and enhance yield through options writing strategies beyond traditional long or short positions. Bitcoin options trading volume has grown significantly, reaching $138.76 billion in June 2025 from $4.11 billion in 2020, a 3200% growth in five years. The increased access enables a broader user base to deploy sophisticated trading strategies using options alongside futures contracts for hedging and profit opportunities. “Users around the world utilize Binance’s derivatives products for liquidity and hedging at highly-competitive prices and our Bitcoin options products will meet the growing retail demand for more and better trading tools,” said Jeff Li, VP of Product at...

Trading activity of Shiba Inu in the ‘buying’ category experienced a double-digit surge on Thursday. SHIB has remained stagnant in the charts for close to three months with little to no price spurts. The development has caused distress to investors as their funds are not moving upward. The price stagnation is making other meme coins lucrative while SHIB remains in the back seat. However, investors are now making use of the relentless price dip on Shiba Inu as the buying activity increases. The move indicates that traders are considering that its price could have bottomed out in the charts. Also, SHIB briefly turned green today as the buyers outpaced the sellers. Also Read: SHIB Whale Activity Rockets 8,866% as Token Risks Adding Another Zero According to the latest SHIB data from the Coinbase exchange, buying activity in Shiba Inu has surged close to 14%. For the first time in a month, buyers outpaced the sellers in SHIB. While 4,500 traders pressed the ‘buy’ but...

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