Bloomberg: Bitcoin and crypto markets have fallen significantly so far in August, while global stocks are returning to all-time highs

Odaily Odaily News: Bitcoin and the broader crypto market have fallen sharply so far this month, but global stock markets are returning to all-time highs after shaking off panic about U.S. economic growth. Bitcoin fell about 10% in August, lagging behind the nearly 1% gain in MSCI Inc.'s global stock index and the performance of gold prices rising to all-time highs. The Bloomberg Global Bond Index rose nearly 2% during the same period. Analysts point to the risk of the U.S. government handling confiscated Bitcoin (its address currently holds about $12 billion worth of cryptocurrency) as one of the challenges facing digital assets. According to an analysis report by Arkham Intelligence, on-chain data shows that the United States transferred $600 million of confiscated Bitcoin to a wallet on an exchange operated by Coinbase Global Inc. last week. Khushboo Khullar, a venture capital partner at Lightning Ventures, which invests in Bitcoin-related companies, said that the U.S. government's possible sale of Bitcoin "has led to this temporary downward price pressure, but we don't expect the impact to last long." (Bloomberg)