Bitcoin news today: Latest BTC news, price, updates, and more

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Bitcoin news today
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As the most popular cryptocurrency, the latest Bitcoin news today will always have large ramifications for the entire market. So let's take a look at what's happening in the world of BTC.

With the largest market cap and a prominent Bitcoin mining community,

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Alongside the latest Shiba Inu news today, and the Ethereum news today, Planet Crypto is bringing the latest on new cryptocurrencies, the Mt Gox Bitcoin payout, and more. But for now, let's take a look at the latest Bitcoin news.

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Bitcoin news today

The latest Bitcoin news today concerns one of the largest Bitcoin mining companies - Marathon Digital Holdings - reporting a loss of $191.6 million in Q2 2022.

While some may initially suspect this is because of the general crypto market, it seems this is only a partial reason. Marathon said it produced only 707 BTC in Q2 compared to over 1250 in Q1, citing various reasons. Marathon CEO Fred Thiel said:

Energisation delays, maintenance and weather issues in Montana, and an approximately 56% decline in the price of bitcoin during the quarter, severely impacted our bitcoin production and financial results.

Elsewhere, NY Times highlighted the "Bitcoin evangelists", more commonly known as Bitcoin maximalists, who are buying the Bitcoin dip, in the hope of extracting profits in the future when Bitcoin regains its former momentum.

One prominent Bitcoin supporter in the news today is Microstrategy's Michael Saylor. Saylor has stepped down from his position as Microstrategy CEO after the company reported losses of over $1 billion. 917 million of this loss came from Bitcoin investments.

However, he will remain at the company as chairman, and will still be in charge of its Bitcoin strategy.

As for more wide-ranging crypto and Bitcoin news, cryptocurrency regulation in the US could perhaps become less chaotic. Two US senators contemplate proposing a legislation bill that would hand responsibility to the Commodity Futures Trading Commission (CFTC).

Recently, a renowned banking platform Galoy has introduced a Bitcoin-backed synthetic dollar with an intention to "solve short-term volatility price risk.

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Bitcoin updates

While many other cryptocurrencies have massive roadmaps and planned upgrades, such as the Ethereum Merge or Cardano Vasil Hard Fork, such major upgrades aren't currently coming for Bitcoin.

However, the Ethereum Merge has moved into Bitcoin discussions. Many are questioning whether the post-Ethereum Merge price will be enough to initiate the Flippening. The Flippening is a long-fabled event in which the Ethereum market cap would overtake Bitcoin.

In terms of updates to Bitcoin Core, the current version is Bitcoin Core 23.0. This latest iteration, worked on by 132 developers, first launched in April 2022.

One of the significant changes to Bitcoin that remains on the horizon is the next Bitcoin Halving date. This is not scheduled to happen until 2024, however.

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Bitcoin price

As of August 9, the Bitcoin price is $23,281. Bitcoin is down 3.4% in 24 hours, with a market cap of $445 billion. Bitcoin is also down 0.3% in the last week, but up 7.8% in the last 30 days.

The present Bitcoin ascent during the bear market has perplexed investors trying to decode the bullish outlook of Bitcoin.

The ascent of Bitcoin to $24,000 was short-lived as the largest crypto by market cap is showing signs of resistance retracting its steps and hovering above $23,000.