Why Bitcoin Miners May Affect Ongoing BTC Rally?

The world's largest cryptocurrency Bitcoin (BTC) has delivered a strong price pump moving closer to $25,000. As of press time, BTC is trading 3% up at a price of $24,678 with a market cap of $472 billion.

Timeline of Bitcoin

Cryptocurrency has given us an option to transfer money safely, quickly, and without excessive verification. It's safe to say that banks are somewhat obsolete in this aspect to those who prefer to perform financial transactions through blockchain technology.

With the start of sales of the world's largest asset manager, BlackRock's Blockchain exchange-traded fund, social media users recalled BlackRock's past anti-Bitcoin moves. They started that BlackRock had suspicions of manipulation.

Bullish start to the day! The crypto market has opened the day on a bullish note as major cryptocurrencies like Bitcoin, Ethereum, Cardano, Solana and others are back on green signal. Bitcoin price has reclaimed the $24,000 price levels and is currently trading at $24,573 after a surge of 2.50% over the last 24hrs.

Popular Japanese bank Shinsei Bank is set to start offering customers rewards in $XRP or $BTC as part of a new campaign that is running from August 10 until October 31. Rewards in the campaign can go up to 8,000 Japanese Yen worth around $60 at the time of writing.

Recently, Bitcoin's [BTC] fight to reach $24,000 has been met with defeat. This was the case when it reached $24,800 on 11 August after an almost 10% uptick from Wednesday (10 August).

Bitcoin (CRYPTO: BTC) bulls regain optimism as the world's largest Investment manager BlackRock announced yesterday that they are launched a private trust offering US-based institutional clients exposure to spot Bitcoin. BlackRock said, "despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities.

A top crypto trader and analyst is revealing how Bitcoin (BTC) could soar by nearly 50%. Crypto analyst Justin Bennett tells his 11,100 YouTube subscribers that if the price of Bitcoin closes above $24,200, the next target is $26,500.

Bitcoin (CRYPTO: BTC) was trading mostly flat during Friday's trading session. The crypto has been unusually quiet over the month of August, trading mostly sideways between about $22,700 and $24,300.

Many people are reacting differently to the current condition of Bitcoin and the global economy. In the past two consecutive quarters, the US has posted negative GDP, leading to a rate spike by the Feds.

Over the past few months, the crypto market witnessed a severe downfall, marking the year's lowest in mid-June. The king of all cryptos' Bitcoin, also could not evade the effects of the crash and touched its 2022 low of $17,700 on 20 June.