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Bitcoin Price Eyes $61K After Promising PPI Numbers, Toncoin Rises 7% (Market Watch)

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Bitcoin’s price has risen by almost two grand since yesterday, following the better-than-expected core PPI numbers in the States.

Several altcoins have produced impressive gains within the same timeframe, led by TON’s jump to over $6.7.

BTC Eyes $61K

The primary cryptocurrency had a positive end to the previous business week as it shot up to almost $63,000 on Friday. This meant that the asset had recovered over $13,000 since its Monday dump to a 6-month low of under $50,000.

However, the bears were quick to intercept the move at this point, and BTC couldn’t maintain its run. It lost some traction during the weekend and further slumped to under $58,000 on Monday.

After some more volatility during that day, bitcoin began to gain value on Tuesday afternoon after the US released the core PPI numbers for July, which had increased less than expected. According to Wedbush Securities’ managing director of equity trading, Michael James, this suggests that the Fed will cut the rates “sooner rather than later.”

BTC topped $61,000 late last night but has fallen to just under that level now. Its market cap is up to $1.2 trillion on CG, while its dominance over the alts has neared 54%.

Bitcoin/Price/Chart 14.08.2024. Source: TradingView
Bitcoin/Price/Chart 14.08.2024. Source: TradingView

TON on the Rise

Most of the altcoins have turned green as well on a daily scale. Ethereum has added nearly 4% of value and now sits well above $2,700. BNB, SOL, XRP, DOGE, ADA, TRX, AVAX, and SHIB have also posted some minor gains.

Toncoin has emerged as today’s top performer following some positive news from Binance. TON is up by 7.5% and now trades close to $6.8. The other notable gainers from the larger-cap alts include UNI, NEAR, STX, and APT.

The total crypto market cap has added $60 billion overnight and is up to $2.235 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Cryptocurrency charts by TradingView.

Cryptocurrency

Capital B Acquires 126 BTC, Total Holdings Top 2,200

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The data & AI technology consulting company, now turned to treasury, has released a financial statement showcasing its most recent Bitcoin procurement.

Meanwhile, the crypto asset posted some gains over the weekend and, at the time of writing, is still riding the bullish wave.

The Acquisition

Listed on the Euronext Growth Paris ($ALCPB), Capital B (formerly the Blockchain Group), announced its most recent purchase via a press release earlier today.

The 126 bitcoins were purchased for approximately €12.4 million (~$ 14.4 M), bringing their total stash to 2,201, with an average purchase price of $106,770 per coin.

This aligns with their plan to have 3,000 BTC by the end of fiscal 2025, which falls on September 27th this year, and their overall goal of owning 1% of all Bitcoin by 2033. They started the acquisitions in early November last year and have achieved a Bitcoin yield of 1,519.5% year-to-date (YTD).

This is a metric that tracks the percentage change in the ratio of total BTC holdings to fully
diluted shares outstanding over a given period, or simply put, how much more of the asset is owned per potential share of stock.

They are currently ranked 24th on Bitcoin Treasuries, neck-and-neck with HIVE Digital Technologies, which also holds 2,201 BTC, and behind the 2,353 BTC that Microcloud Hologram currently holds.

Bitcoin Outlook

The largest cryptocurrency by market capitalization had a green Sunday, opening at $116,490 and closing the day at $119,310, representing a 2.42% increase. The wave continues into Monday, and at press time, the asset remains on the rise.

An interesting week is ahead of us, as per the US economic calendar, with CPI and PPI data being released, along with several other key indicators.

Bitcoin, like other volatile assets, tends to react to macroeconomic data, so its price could fluctuate depending on the numbers. The highly anticipated Fed meeting is also approaching, with just over a month to go until we hear whether a rate cut will be announced, which is another potential catalyst for price moves.

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A Modest One: Saylor’s Strategy Buys 155 BTC for $18 Million

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Strategy – the company founded by Michael Saylor – rarely skips a Monday without announcing a crypto purchase.

Today was no exception as the company revealed it had acquired the modest (for its standards) 155 BTC for roughly $18 million. The average price of the deal was around $116,401 per coin.

Over the past few months, the company has announced several more impressive deals. Towards the end of June, it bought 4,980 BTC for over $530 million, while a few weeks prior, it stunned the community with a multi-billion-dollar purchase. 

Strategy has achieved a BTC yield of 25% YTD 2025. It is the world’s biggest corporate holder of the primary cryptocurrency, and currently it has 628,946 BTC bought for approximately $46.09 billion.

Due to the price increase of the asset, the current value of the holdings now exceeds $75 billion, meaning the company is sitting on a paper profit of almost $30 billion. 

It is worth mentioning that Strategy began accumulating BTC exactly five years ago. Its initial purchase included 21,000 coins, valued at around $250 million. 

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Ethereum Dev Says Turkish Authorities Accused Him of Helping Others Misuse Ethereum

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An Ethereum developer pseudonymously known as “Fede’s Intern” claims to have been detained in Izmir, Turkey.

Authorities accuse him of helping others “misuse” the ETH blockchain network, a charge he strongly denies.

“Very Troubling”

The Argentinian developer, who focuses on ZK and Ethereum projects, said Turkey’s Minister of Interior accused him of facilitating Ethereum misuse and that he was confined to a room.

In posts on social media platform X, he maintained that he and his associates are “just infra builders” working transparently and in the open. Their business operations span more than a dozen industries across Europe and collaborations with governments.

He is linked to projects including Lambda Class and Aligned. According to his account, local authorities told his lawyer he could face charges, which prompted him to limit public comments and urge followers to contact associates who could speak on his behalf.

He claimed to have engaged senior contacts in over 10 countries, including the US, UAE, and various Asian nations, while friends from multiple jurisdictions have contacted Turkish officials.

Fede’s Intern expressed readiness to cooperate with Turkish authorities or any government, while asserting that neither he nor his companies were involved in illicit activity. He also added that he might soon contest the allegations from abroad. His latest update reads:

“I couldn’t leave yet. In theory in 3 hours I’m out. Once I land in Europe I will explain everything we know. Thanks for everyone helping me get out of here. They wanted to take my phone since they considered it a security risk but thanks to some friends calls they didn’t.”

Bankless co-founder Ryan Sean Adams called the situation “very troubling.” He noted that the story was still developing and questioned the optics for the Ethereum community, especially with Istanbul having been floated as a potential location for DevCon 2026.

Compliance and AML Vigilance

Turkey has significantly tightened oversight of its crypto sector. For instance, tougher Anti-Money Laundering (AML) rules came into effect on February 25, 2025. As such, all crypto transactions of more than 15,000 TRY would need user identification, and providers can curb or halt transactions deemed “risky.”

The Capital Markets Board (CMB) was given authority over crypto asset service providers (CASPs), including exchanges, custodians, and wallet services.

Since March 13, 2025, operators must obtain a license, meet capital requirements, which are around $4.1 million for exchanges, $13.7 million for custodians. In addition to that, operators must also integrate risk-management and compliance infrastructure, and submit frequent audits and transaction reports.

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