### Market Performance Update

In the latest trading session, **Litecoin (LTC)** demonstrated impressive growth, adding **2.4%** to its value, while **Bitcoin Cash (BCH)** also showed strength with a **2%** increase. The **CoinDesk 20 Index** overall gained **0.4%**, reflecting a positive trend in the cryptocurrency market.

### Key Highlights
- **Litecoin (LTC)** up **2.4%**
- **Bitcoin Cash (BCH)** rises **2%**
- The overall **CoinDesk 20 Index** gains **0.4%**

Stay tuned for more updates on the cryptocurrency market's dynamic performance!

Litecoin added 2.4% while Bitcoin Cash rose 2% in overnight trading.

LTC and BCH Surge: CoinDesk 20 Index Sees a 0.4% Gain

### Bitcoin's Recent Climb

Bitcoin **climbed 3%** on Thursday morning, surpassing **$58,000**, driven by investor responses to the **August Consumer Price Index (CPI) report**. The **headline CPI slowed to a 2.5%** annual increase, slightly below the expected **2.6%**, marking its lowest level since **February 2021**. However, core inflation, which excludes food and energy, **rose 0.3%** monthly, surpassing forecasts of **0.2%** and maintaining an elevated year-over-year rate of **3.2%**, well above the **Federal Reserve’s 2% target**.

### Ethereum and Sui's Performance

Ethereum (ETH), the second-largest cryptocurrency by market cap, also saw modest gains with a **1.3% increase** to **$2,360**, according to CoinGecko data. In contrast, Ethereum competitor **Sui**, a Layer 1 blockchain, saw its **SUI token surge 16%**, trading at **$1.03**, after **Grayscale announced the launch of its Grayscale Sui Trust**. Each share of the trust holds **14.95 SUI tokens**, valued at **90 cents**, sparking investor interest.

### ETF Outflows

Bitcoin spot ETFs faced outflows, with investors withdrawing a net total of **$44 million** on **September 11**. Notably, **ARKB** led with **$54 million** in outflows, while Grayscale’s (GBTC) Bitcoin ETF reported an outflow of **$4.5 million**. Conversely, **Fidelity's FBTC ETF** showed an inflow of **$12.5 million**.

### Expert Insights

Peter Chung, Head of Research at Presto Labs, commented on the robust August CPI data, suggesting it triggered a **risk-on trade** that pushed Bitcoin higher. He noted, "This shows the market is now in **'good news is good news' territory**."

However, Illia Otychenko, Lead Analyst at CEX.IO, expressed caution regarding Bitcoin's near-term momentum, stating, "Bitcoin’s **bullish momentum appears to be fading**". He pointed to technical indicators like the **Relative Strength Index (RSI)** and moving averages, indicating a possible **bearish divergence**. Otychenko highlighted the potential for a **death cross** on the daily chart, signaling bear dominance, though he noted that a **MACD crossover** suggests bearish pressure might be short-lived.

### Understanding Technical Indicators

RSI measures the speed and change of price movements, indicating potential overbought or oversold conditions, while moving averages smooth out price data to identify trends and potential support or resistance levels over specific time frames.

*Edited by [Stacy Elliott](https://decrypt.co/author/stacy).*

"Bitcoin’s bullish momentum appears to be fading," one expert told Decrypt.

Bitcoin Surges Past $58,000: Is the Bullish Momentum Fading?

### Massive Crypto Fraud Losses
Fraudsters swindled individuals out of an **astonishing $5.6 billion** using cryptocurrency-related schemes in **2023**, as reported by the **FBI**. This figure represents a **45% increase** from the previous year.

### Most Affected States
According to the **FBI’s Internet Crime Complaint Center (IC3)**, certain states bore the brunt of these losses:

1. **California**: $1.155 billion
   ![California State Capitol](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/09/931/523/California-Legislature-Sacramento-GettyImages-1486073243.jpg?ve=1&tl=1)
2. **Texas**: $411.9 million
   ![Austin, Texas skyline](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2023/10/931/523/Austin-Texas.jpg?ve=1&tl=1)
3. **Florida**: $390.2 million
   ![Tallahassee, Florida](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/01/931/523/Tallahassee-Florida-iStock.jpg?ve=1)
4. **New York**: $317.3 million
   ![Battery Park, New York](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/931/523/battery-park-manhattan.jpg?ve=1)
5. **New Jersey**: $179.4 million
   ![Trenton, New Jersey](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/04/931/523/new-jersey.jpg?ve=1)

### Types of Fraud
The **IC3** highlighted that fraudsters predominantly used schemes related to **investment**, **tech support**, **personal data breaches**, and **extortion** to perpetrate cryptocurrency fraud. The report revealed that California reported the highest losses, with a staggering **$1.155 billion**.

### Insights from the FBI
Michael Nordwall from the **FBI** noted that the **decentralized nature of cryptocurrency**, combined with the **speed of irreversible transactions**, makes it an attractive vehicle for criminals and presents significant challenges in recovering stolen funds. The **IC3** received over **69,000 complaints** specifically about cryptocurrency scams in 2023, which accounted for nearly **50% of total financial fraud losses** despite only representing about **10% of all financial fraud complaints**.

### Overall Internet Crime Statistics
In a broader context, the **IC3** reported more than **880,400 complaints** across all types of internet crime in 2023, leading to **over $12.5 billion** in losses.

Fraudsters swindled people out of billions using cryptocurrency-related schemes in 2023. When it came to such losses in the U.S., the FBI found some states were hit harder than others.

Shocking Surge: $5.6 Billion Lost to Crypto Fraud in 2023 - Find Out Which States Suffered the Most!

### Crypto Adoption Trends in 2024

According to **Chainalysis**, **India**, **Nigeria**, and **Indonesia** have emerged as the top three countries in the **2024 Crypto Adoption Index**. This ranking highlights the growing interest and engagement in cryptocurrency across these nations, driven by factors such as increased internet accessibility and a young, tech-savvy population.

#### Key Insights from the Index
- **India** continues to leverage its massive population and tech infrastructure, fostering a vibrant crypto community.
- **Nigeria** has seen a surge in crypto adoption, with many turning to digital currencies as a hedge against local economic challenges.
- **Indonesia** is also witnessing significant growth in crypto usage, reflecting a broader trend in Southeast Asia.

This index is crucial for understanding global trends in cryptocurrency adoption, showcasing how different regions embrace digital assets in various ways. The rise of these countries in the crypto space could signal shifts in market dynamics and investment opportunities in the upcoming years.

Discover How India, Nigeria, and Indonesia Dominate the 2024 Crypto Adoption Index

## A Deep Dive into NVIDIA and the Crypto Landscape

We recently compiled a list of the **20 Best Cryptocurrency Stocks to Buy According to Hedge Funds**. In this article, we explore **NVIDIA Corporation (NASDAQ: NVDA)** and its standing among other cryptocurrency stocks.

### The Crypto World: Recent Developments

Crypto has become a significant political topic in the U.S. as election campaigns heat up. Alex Thorn from Galaxy Digital noted that August has historically been a challenging month for Bitcoin, with **eight out of eleven** previous Augusts seeing declines. However, political dynamics are shaping the crypto market.

Thorn suggests that many perceive **Trump's** potential victory as **bullish** for crypto, as he aims to position the U.S. as the **'crypto capital of the planet'**. Conversely, a win for **Kamala Harris** is viewed as more **neutral**, given her advisors' ties to the Biden administration's crypto policies.

Looking ahead, while September is typically weak for crypto, **October, November, and December** are historically the most bullish. Despite anticipated Fed interest rate cuts, concerns linger among investors about a potential crypto bull market.

In a CNBC interview, **Anthony Pompliano** highlighted significant market movements, including the German government selling Bitcoin and the Mt. Gox exchange releasing coins. He labeled Bitcoin as **illiquid**, with over **70%** of Bitcoin not moving for over a year, indicating a long-term holding mentality among investors. Pompliano believes time will be the crucial factor for Bitcoin's value rather than political candidates.

### NVIDIA Corporation (NASDAQ: NVDA)

#### Hedge Fund Holders: 179

NVIDIA, a leader in **GPU-accelerated computing**, plays a crucial role in the crypto mining sector due to its advanced GPU technology. Recently, NVIDIA launched the **Blackwell GPU architecture**, boasting **208 billion transistors**—more than 2.5 times that of its predecessor, Hopper GPUs. This innovation is expected to generate substantial revenue.

For Q2, NVIDIA reported an impressive **$30 billion** in revenue, a **122%** increase year-over-year. Data Center revenue alone reached **$26.3 billion**, up **154%** from the previous year, driven by high demand for its **Hopper** and networking products.

NVIDIA also anticipates significant growth in its **AI revenue**, targeting low double-digit billions fueled by AI-driven applications. Their collaboration with Fortune 100 companies further enhances their market position.

As of Q2 2024, NVIDIA ranks **1st** among the best cryptocurrency stocks based on hedge fund holdings. However, some analysts argue that undervalued AI stocks may offer better returns in a shorter timeframe.

![NVIDIA Graphics Card](https://s.yimg.com/ny/api/res/1.2/35OsE6JF1OOSKUMcCGpgIw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUzODtjZj13ZWJw/https://media.zenfs.com/en/insidermonkey.com/aa94e059977d3251b8b0630718e013fc)

### Conclusion

NVIDIA's strong performance and strategic innovations position it as a leading player in the cryptocurrency market, making it a compelling investment choice for those looking to capitalize on the intersection of AI and crypto technology.

We recently compiled a list of the 20 Best Cryptocurrency Stocks to Buy According to Hedge Funds. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against the other cryptocurrency stocks. A Review of the Crypto World: Latest Updates Crypto has emerged as a major political issue in the […]

Is NVIDIA (NVDA) the Ultimate Cryptocurrency Stock to Invest In Right Now?

### Bitcoin Price Movement During the Presidential Debate

As the **presidential debate** commenced, there was a noticeable **decline in Bitcoin's price**. This event has sparked discussions among traders and investors regarding the potential impact of political events on **cryptocurrency markets**.

![Bitcoin Price Chart](https://www.axios.com/favicon.ico)

While the specifics of the debate are still unfolding, many are questioning whether such political events can significantly sway **Bitcoin's performance**. Historically, **market volatility** tends to increase during major political events, leading to fluctuations in asset prices, including cryptocurrencies.

### The Broader Implications

This dip could be reflective of broader **market sentiment** and investor reactions to political rhetoric. As the debate progresses, it will be critical to monitor how these discussions influence not only Bitcoin but also the **overall cryptocurrency market**.

Stay tuned as we continue to track the developments and their implications on **Bitcoin’s** trajectory.

www.axios.com needs to review the security of your connection before proceeding.

Bitcoin Price Dips Amid Presidential Debate: What You Need to Know

### Bitcoin’s Mining Difficulty Soars

On **September 10**, Bitcoin’s mining difficulty increased by **3.58%**, reaching an unprecedented level of **92.67 trillion**. This significant rise poses challenges for miners as they face decreased revenue amidst tougher competition.

### Impact on Miners

The continuous increase in mining difficulty means that miners require more computational power to validate transactions and earn rewards. This situation is exacerbated by the falling revenue, making it harder for many miners to sustain their operations.

### The Bigger Picture

As the network’s difficulty hits new heights, it raises questions about the **sustainability** of Bitcoin mining in the long run. Miners are now forced to adapt to these changing conditions, which could lead to a consolidation in the industry as smaller players may struggle to keep up.

### Conclusion

With the mining landscape evolving rapidly, stakeholders in the Bitcoin ecosystem are watching closely to see how these changes will affect the overall market dynamics and miner profitability.

On Sept. 10, Bitcoin’s mining difficulty rose 3.58% higher bringing the network’s difficulty to a new all-time high of 92.67 trillion.

Bitcoin Mining Difficulty Hits Record High: What It Means for Miners' Revenue

Tech-savvy owners of **Bitcoin** and other digital assets will benefit from greater legal protection thanks to an important clarification to the law.

![UK Parliament](https://assets.publishing.service.gov.uk/media/66e1b72c3b0c9e88544a004b/s300_parliament-at-sunset-960x640.jpg)

### Key Highlights of the New Bill
- **Bitcoin** and other digital assets can be considered **personal property** under the new draft law introduced in Parliament today (11 September 2024).
- Owners will benefit from **increased legal protection** against fraud and scams.
- The changes will help maintain **English and Welsh law** at the forefront of the global tech industry.

The **Property (Digital Assets etc) Bill**, introduced in Parliament today, signifies a historic moment as it allows **digital holdings**, including cryptocurrency, **non-fungible tokens** (NFTs), and carbon credits, to be recognized as personal property under the law.

This legislation ensures that the UK maintains its **lead** in the global crypto race by being among the first countries to legally recognize these assets.

Previously, digital belongings were not explicitly included within the scope of English and Welsh property law, leaving owners vulnerable in legal disputes. The new law will provide **legal protections** for owners and companies, especially in complex cases involving digital assets.

**Justice Minister Heidi Alexander** emphasized the importance of this legislation:
> "Our world-leading legal services form a vital part of our economy, helping to drive forward growth and keep Britain at the heart of the international legal industry."

The UK legal sector will now be better equipped to respond to new technologies, attracting more business and investment to the **£34 billion** legal services industry. With **English law** governing **£250 billion** of global mergers and acquisitions, keeping the law updated is crucial for maintaining the UK's international reputation.

### Notes to Editors
- The term **digital asset** encompasses a wide range of items such as digital files, records, and **cryptotokens**.
- This Bill introduces a **third category of property**, allowing certain digital assets to attract personal property rights.
- The action taken on digital assets responds to the **Law Commission’s report** from 2023, aimed at recognizing digital assets under English and Welsh law.

Published 11 September 2024

Tech-savvy owners of Bitcoin and other digital assets will benefit from greater legal protection thanks to an important clarification to the law.

LTC and BCH Surge: CoinDesk 20 Index Sees a 0.4% Gain

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Bitcoin Surges Past $58,000: Is the Bullish Momentum Fading?

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Is NVIDIA (NVDA) the Ultimate Cryptocurrency Stock to Invest In Right Now?

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Bitcoin Surges Past $58,000: Is the Bullish Momentum Fading?

Shocking Surge: $5.6 Billion Lost to Crypto Fraud in 2023 - Find Out Which States Suffered the Most!

Discover How India, Nigeria, and Indonesia Dominate the 2024 Crypto Adoption Index

Is NVIDIA (NVDA) the Ultimate Cryptocurrency Stock to Invest In Right Now?

Bitcoin Price Dips Amid Presidential Debate: What You Need to Know

Bitcoin Mining Difficulty Hits Record High: What It Means for Miners' Revenue

UK Parliament Moves to Secure Legal Status for Bitcoin and Digital Assets