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The least favorable locations for Bitcoin mining
Coingecko has just unveiled a report that details the countries where mining 1 BTC could be either a lucrative venture or a costly mistake.
For example, mining a Bitcoin in Lebanon would cost only $266 in electricity, while the same task in Italy would run a shocking $206,000, or 783 times more.
Out of the top 10 nations with the highest electricity costs, 9 are European. 
Overnight descent: BTC at $25,000
Statistics from Coinglass indicate liquidations of $1 billion in the last 12 hours, with $483 million in BTC and $300 million in Ethereum.
Some market analysts are identifying potential incidents that may have instigated this downfall:
The Wall Street Journal has noted that SpaceX liquidated $373 million in Bitcoin across 2021 and 2022, and Tesla has divested more than 30,000 BTC (75% of its stake) for $936 million in Q2 of 2022.
The investment holding company China Evergrande Group has filed for bankruptcy. It was rumored that Tether had backed a portion of its USDT using commercial papers from this entity.
Sellers sprang into action shortly after.
With Bloomberg announcing that the SEC is slated to approve the first-ever Ethereum-based ETF futures by October, Ethereum's market value promptly surged by 11%. Revisiting 2016: Volatility at its lowest!
According to Kaiko, BTC and ETH have recorded their lowest 90-day price volatility compared to oil in many years, a mark last reached in 2016.
Right now, Bitcoin's volatility sits at 35%, Ethereum's at 37%, while oil's is higher at 41%.
Experience tells us that after such periods of quiet , a significant move often follows. Judging by Bitcoin's recent dynamics, it appears such a shift might be kicking off. 
Former SEC Official Doubts Approval of Bitcoin Spot ETF
John Reed Stark, ex-chief of the SEC's Office of Internet Enforcement, believes the current SEC won't approve a Bitcoin spot ETF due to various reasons.
However, Stark suggests that if a Republican wins the 2024 presidential election, the SEC might ease its crypto-enforcement and be more open to a Bitcoin spot ETF.
He also speculates that SEC chair Gary Gensler might resign, potentially paving the way for Hester Peirce, known as "Crypto Mom", to take a leading role. Bitcoin Miners Pivot to AI Amid Halving Concerns
JPMorgan reports that Bitcoin miners are diversifying their operations in anticipation of the upcoming halving event, which will slash their rewards. Miners are now venturing into the booming artificial intelligence (AI) market, offering high-performance computing services. This shift is partly funded by selling newly minted or existing bitcoins. Companies like Applied Digital and Iris Energy are already making strides in AI cloud services. Additionally, post Ethereum's shift from proof-of-work, former Ethereum miners are leveraging GPUs for AI, finding it potentially more profitable than traditional mining. Grayscale vs. SEC: ETF Team Expansion Hints at Hope
Grayscale Investments is gearing up for a potential positive outcome in its lawsuit with the SEC, as it begins hiring for its ETF team. The firm is on the lookout for a "Senior Associate, ETFs" to bolster its ETF business development.
This move comes as the crypto community eagerly awaits a court decision on Grayscale's proposal to convert its GBTC fund into a spot bitcoin ETF.
The outcome could set a precedent for other asset managers seeking approvals for spot bitcoin funds, influencing the future of crypto ETFs. Tether terminates support for multiple blockchain networks
The issuer of USDT has resolved to end support for Kusama, Bitcoin Cash SLP, and Omni Layer. This move follows an in-depth analysis of the functionality, safety, and stability of these particular blockchains.
Notably, Omni Layer, Tether's first transport layer since its inception in 2014, was instrumental during its early days. However, it has witnessed a decline in popularity due to rising competitive solutions.
Though minting of USDT on the aforesaid platforms will be terminated, the redemption process will stay in place for a duration extending at least a year. QBT improves bitcoin mining efficiency
Quantum Blockchain Technologies (QBT), a research company, has unveiled an innovative bitcoin mining method that utilizes artificial intelligence.
According to the company's statement, this new approach to hash verification, as opposed to random selection, boosts the chances of finding a winning hash by approximately 260%. Bloomberg Intelligence: Fed's Role in the "greatest rug pull ever
The current market landscape marks an unprecedented decline in liquidity, according to Bloomberg Intelligence's senior macro strategist, Mike McGlone.
If this pattern holds throughout 2023, he warns of a potential sharp descent in Bitcoin prices, which would ripple through Ethereum, XRP, and the general cryptocurrency domain.
“What should be early indications of recessionary times? The best indication should be bitcoin and that’s where I’m looking for the bleeding occasion from bitcoin and it’s still kind of showing what I expected.”
“Picture December: Recession looms, Fed hesitates on easing due to inflation,” said McGlone. Delphi Digital Foresees New Crypto Market Cycle
Kevin Kelly, Delphi Digital's co-founder, suggests the crypto market is entering a new cycle. He highlights the consistency in crypto market timings, from peak-to-trough bottoms to recovery durations.
Using Bitcoin as a reference, Kelly describes a typical cycle: a new all-time high, an 80% drawdown, a recovery to the previous high in two years, and a rally to a new peak. This cycle aligns with broader business cycles.
Kelly also draws parallels between Bitcoin's price peaks and the ISM Manufacturing Index.
Despite potential short-term setbacks, Kelly remains optimistic about the market's outlook for the next 12-18 months. The first Bitcoin-EFT in Europe launched on Euronext
acobi Asset Management Lists Europe’s First Spot Bitcoin ETF on Euronext Amsterdam Exchange.
“It is exciting to see Europe moving ahead of the US in opening up Bitcoin investing for institutional investors who want safe, secure access to the benefits of digital assets,” says the company’s CEO, Martin Bednall.
Well, now it’s the USA’s turn! Bitcoin finds favor in Argentina's political landscape!
In the Argentine primary elections, Javier Milei, a candidate who supports Bitcoin and vehemently opposes the Central Bank, has garnered most of the votes.
He's not shy about criticizing the Central Bank, dubbing it a conduit for politicians to exploit Argentinians via inflation.
Milei is convinced that the salvation lies in Bitcoin, which can instill privacy back into finances.
Simultaneously, Bitcoin has hit a fresh historical maximum value when measured in Argentine peso. 