Grayscale recently indicated that Bitcoin’s current bear market might persist until September or October if previous four-year cycles hold true. This insight, shared by Wu Blockchain, underscores concerns about the ongoing market downturn and its alignment with historical trends. For more details, visit the original tweet here.
Bitcoin remains under significant pressure as it revisits critical support levels, with Grayscale’s commentary adding to the growing narrative of a protracted bear market. Historical data suggests that previous downturns typically bottom out about a year following market peaks, which raises questions about the timing of potential recoveries. As institutional interest fluctuates and market dynamics evolve, traders are closely monitoring the situation to gauge future movements.
The broader crypto market is currently exhibiting mixed signals, creating an uncertain environment for Bitcoin and its traders. The ongoing bear market, combined with the lack of significant trading volume, suggests that investors are cautious and waiting for clearer indicators before making substantial moves.
Grayscale has been a pivotal player in the cryptocurrency space, often influencing market sentiment through its insights and forecasts. The company’s analysis of Bitcoin’s historical performance and potential future trends is critical for traders seeking to navigate the current bearish landscape.
Traders are advised to keep a close eye on Bitcoin’s performance over the coming weeks, particularly as it approaches key support levels around $64,000 to $65,000. The outcome of this bear market could hinge on macroeconomic factors and institutional movements, making it imperative for market participants to remain vigilant. Additionally, technical indicators such as Fibonacci levels may provide further insights into potential market shifts.
Cryptocurrency investments are subject to market risks. Readers should perform their own research before making investment decisions.
The post Grayscale Warns: Bitcoin’s Bear Market Could Extend Until Fall appeared first on Coinfomania.
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A White House official accused Moonshot AI of distilling Anthropic’s Fable AI model to develop Kimi K3, which launched last week.In a post on X on Wednesday, White House Office of Science and Technology Policy Director Michael Kratsios alleged the Chinese AI firm developed an internal platform to distill US models at scale, using methods designed to evade detection.“Legitimate AI distillation used to create smaller, more efficient models plays a vital role in this open innovation ecosystem,” he said. “However, large-scale, covert industrial distillation aimed at stealing proprietary U.S. technology and undermining American research is unacceptable.”Kimi K3 has emerged as one of China’s most capable AI models, intensifying Washington’s concerns that American models are being covertly used to accelerate China’s AI progress.However, some AI researchers questioned claims that Anthropic’s latest AI model was used to train Kimi K3. Anthropic’s Fable 5 was re-released on July 1 after it was quickly taken offline due to US export controls, while Kimi K3 launched on July 16, giving a narrow window for distillation attacks to occur.“There are only 15 days between fable 5 ban removal and kimi K3 release,” said Elie Bakouch, a researcher at AI startup Prime Intellect.“I don’t think claiming that K3’s performance comes from fable distillation (even if they did it) makes sense technically.”Dean Ball, OpenAI’s head of strategic futures, said on Friday he didn’t believe the K3 model’s performance could be “explained away by distillation or anything like that.”Related: Anthropic to bring back Fable 5 as US lifts export controlsUS Treasury Secretary Scott Bessent warned that the large-scale distillation attacks could result in sanctions and other restrictions. “We support open-source AI and the innovation it unlocks. But open source is not open season on American IP,” said Bessent.“When PRC firms conduct covert, industrial-scale distillation attacks that cross the line into IP theft, sanctions and Entity List designations will be on the table.”Magazine: Thai scammer’s $122M wallet, Japan embraces crypto credit: Asia Express
XRP whales accumulate 2.8% more tokens over five weeks as small holders capitulate, sending the price back above $1.16.
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