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Proceeds funded STRC dividends and repurchases, while $149.1 million was added to Strategy’s US dollar reserve, which reached $4.8 billion.

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BitMine Immersion Technologies (BMNR) has repurchased 1.7 million common shares in the week ending August 16. This is the smallest weekly buyback since the program began on July 1 and the third consecutive weekly decline, while the company’s Ethereum (ETH) treasury grew to 5,815,164 tokens.

Total crypto, cash, and “moonshot” holdings came to $11.4 billion, down from $11.6 billion a week earlier, even though BitMine added 9,926 ETH over the period. The company marked its ETH at $1,893 per token on August 16, against $1,928 a week before. As reported, BitMine purchased a 7,391 ETH batch that took the treasury past 5.8 million tokens last week.

“We are encouraged to see the ETH/BTC ratio at 0.02994 and rising,” stated Thomas “Tom” Lee, Chairman of BitMine, who linked the move to tokenization and agentic-AI applications.

Buyback Slows for Third Week

BitMine’s holdings equal 4.8% of the 120.7 million ETH supply, leaving it 96% of the way to its stated target of owning 5%. Lee said the company has bought ETH every week since the treasury strategy began on June 30, 2025.

BitMine has repurchased 20.8 million common shares since July 1 under a $4 billion authorization. Weekly totals disclosed in its filings peaked at 6.1 million shares in the week to July 26, then fell to 4.5 million, 3 million, and 1.7 million. Lee has called the stock undervalued or attractively valued in each of those three releases, and described the program as the largest ever executed by any crypto digital asset treasury.

Back in July, BitMine cut its weekly ETH buying to 7,430 tokens from more than 30,500, a slowdown Lee attributed at the time to capital redirected toward repurchasing shares.

Cash Falls to $78 Million

Total cash and marketable securities stood at $78 million on August 16, a line that has declined in every weekly disclosure since June 28, when BitMine reported $527 million, passing through $482 million, $385 million, $268 million, $173 million, and $104 million.

Alongside the ETH, the company reported 210 Bitcoin (BTC), a $180 million stake in Beast Industries, and a $73 million stake in Eightco Holdings (ORBS).

BitMine’s board declared seventeen weekly cash dividends on its 9.50% Series A Perpetual Preferred Stock on August 14, most at $0.1847 per share, payable from September 4 through December 28.

That security trades on the NYSE as BMNP against a $100 stated value.

The post BitMine Cuts Weekly Buyback to 1.7M Shares as ETH Treasury Hits 5.82 Million appeared first on CryptoPotato.

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In Bitcoin news today, Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, argued this week that gold remains easier to use for everyday transactions than Bitcoin, reviving a long-running debate over the asset’s real-world utility.

The comments arrived alongside a sharper attack on Michael Saylor’s Strategy Inc. (NASDAQ: MSTR), which Gerber warned could “nuke” Bitcoin if its leveraged accumulation model unwinds, according to a note shared with Benzinga.

Gerber’s utility argument centers on a simple observation: gold can be exchanged in far more physical settings worldwide than Bitcoin, even after years of industry claims about the cryptocurrency’s payment potential.

Trader Scott Melker pushed back on that framing, arguing that crypto-linked Visa and Mastercard cards already allow holders to spend Bitcoin at nearly any point of sale that accepts plastic.

That distinction matters for anyone tracking Bitcoin payments adoption, since card-rail spending routes through a custodian converting BTC to fiat at the point of sale rather than merchants accepting Bitcoin directly on-chain.

Bitcoin News: Saylor’s Leverage Model Draws Fire

Gerber’s more pointed criticism targets Strategy’s approach of selling equity to fund Bitcoin purchases. He questioned why an investor would accept diluted exposure at a premium to the underlying asset, a dynamic visible in Strategy’s stock, which trades at roughly 1.61x its Bitcoin holdings.

“The fact they can sell stock at some inflated valuation to then buy Bitcoin is crazy bad math for the investor. Why would you buy $100 of Bitcoin for $200?”

Gerber said Bitcoin’s periodic hard corrections could force Strategy into selling if its debt-funded structure comes under pressure, calling that scenario the mechanism that could “nuke” the cryptocurrency.

Strategy has countered that its shift toward perpetual preferred stock, which carries no maturity date, insulates the company from forced liquidations even in an 80% drawdown.

The company held 629,376 BTC worth more than $72Bn as of its latest disclosure, after adding 430 BTC for roughly $51.4M, yet its stock has lagged Bitcoin’s own price performance over the same stretch.

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Bitcoin Miners Betting Big on AI

In other Bitcoin news, Gerber also questioned whether Bitcoin’s network foundation is weakening as major miners redirect infrastructure toward artificial intelligence and high-performance computing.

That trend is documented rather than speculative: several listed miners have already converted mining capacity into AI hosting contracts, a shift detailed in coverage of Riot Platforms’ recent AI leasing arrangement.

Core Scientific, for example, has been converting a 300-megawatt Texas facility, once used for Bitcoin mining, into an AI data center campus, with colocation revenue now outpacing its digital-asset self-mining revenue.

CoinShares projections cited in coverage of the trend suggest mining revenue could fall from roughly 85% of total revenue in early 2025 to under 20% by the end of 2026 for miners with significant AI contracts, according to crypto.news.

That reallocation of capital doesn’t signal the disappearance of Bitcoin mining, but it does mean the economics increasingly favor AI hosting over pure hash-rate production, a tension that supports part of Gerber’s broader skepticism without proving his claim that Bitcoin mining AI conversions have permanently capped the network’s upside.

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The post Gerber Warns Strategy’s Bitcoin Leverage Could Trigger a Selloff appeared first on Cryptonews.

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Bitcoin’s dull price movements over the weekend sort of extended as the new business week started, but the asset has managed to decisively reclaim the $63,000 level as of now.

RAIN, ZEC, and HYPE have emerged as today’s top performers from the larger-cap alts, while ETH has neared $1,900 once again.

BTC Above $63K

Bitcoin stood tall at the beginning of the previous business week when it traded comfortably at $65,000 and even tried to break out even higher. However, it was quickly stopped at $65,400 and slipped to $63,800. The bears appeared to be in control for most of the week.

After a couple of failed rebound attempts, both of which were halted at $64,400, BTC went south once again. This time, it dipped to $62,800. Another bounce-off followed, but the bears kept a tight control of the market and drove bitcoin south to a 10-day low on Friday at $62,500.

The cryptocurrency finally reacted positively and jumped by a grand almost immediately. It failed to continue recovering, though, and calmed at $63,000, where it spent the entire weekend without any moves in either direction.

It dipped to $62,600 on Monday morning before it pumped by $1,000 to $63,600. Although it was stopped there, it still trades above $63,000 as of press time.

Its market cap has returned to $1.270 trillion on CG, while its dominance over the alts stands below 57%.

BTW Keeps Pumping

While even most of the mid- and lower-cap alts have remained sideways lately, Bitway (BTW) has stolen the show once again. The asset is up by 16% daily, 80% weekly, and a whopping 460% since this time last month. It currently trades close to $0.35, and it has become the 69th-largest cryptocurrency by market cap.

The most substantial gainers from the larger-cap alts have produced a lot more modest increases. ZEC and RAIN are up by around 4%, while HYPE has jumped by 3% to $59. ETH is close to $1,900, while XRP continues its battle with the key $1.00 level.

The cumulative market cap of all crypto assets has added less than $20 billion daily and remains below $2.250 trillion on CG.

The post Bitway (BTW) Continues to Steal the Show as Bitcoin (BTC) Holds Above $63K: Market Watch appeared first on CryptoPotato.

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Bitcoin price recovered from the $62,700 area as buyers defended a key support zone, but ETF outflows, weak trend signals, and heavy overhead liquidity continue to limit the rebound.

Summary

• Bitcoin price rose 1.2% to about $63,650 after finding buyers near $62,700.
• The 4-hour RSI climbed to 58.76, showing an improvement in short-term momentum.
• Nearly $390 million left US spot Bitcoin ETFs during the previous trading week.
• Liquidity clusters near $64,100 and $64,800 could shape Bitcoin’s next move.

Bitcoin price action today

According to data from crypto.news, Bitcoin (BTC) price traded near $63,650 on Aug. 17, up about 1.2% on the day after recovering from an intraday low of $62,751.

The move followed several unsuccessful attempts by sellers to push BTC below the $62,500–$62,700 region. Bitcoin had fallen from above $65,000 earlier in August, leaving the market vulnerable to a deeper correction before buyers returned near monthly support.

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BTC reached an intraday high of $63,717 during the recovery. The bounce also moved the price above the $63,166 level, which marks the 78.6% Fibonacci retracement of the advance from $57,803 to $82,864.

Holding above that retracement level keeps Bitcoin inside the range formed after its June sell-off. However, the daily chart shows that BTC has not yet reversed the wider decline from its May peak.

The recovery coincided with modest gains in US equity futures. Nasdaq 100 futures rose as technology shares led a broader risk-asset rebound, while lower expectations for another aggressive Federal Reserve rate increase supported demand for Bitcoin.

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The dollar fell to a 10-day low as Treasury yields eased. A weaker dollar can support assets priced in dollars, although elevated bond yields remain a source of competition for capital.

What is driving Bitcoin’s rebound?

Bitcoin’s immediate recovery came from buying pressure around $62,500 rather than a clear improvement in institutional demand. The level has acted as support several times since late July, encouraging short-term traders to buy after the latest decline.

The 4-hour chart shows that momentum improved as BTC moved back toward $63,700. The relative strength index rose to 58.76 from near 40, while its signal average remained lower at 43.57.

An RSI reading above 50 indicates that short-term buying momentum has overtaken selling momentum. Bitcoin still needs to hold the recovery through several 4-hour closes because previous rebounds in August stalled between $64,500 and $65,500.

The Supertrend indicator also shows that the reversal remains incomplete. BTC was trading slightly below the indicator’s resistance line near $63,714 at the time of the chart, while another important level stood near $64,344.

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A sustained move above both levels would give buyers more control and place the early-August highs back in view. Rejection near the same area would leave Bitcoin exposed to another test of $63,000.

US ETF outflows keep Bitcoin bulls cautious

The rebound has developed despite continued withdrawals from US spot Bitcoin exchange-traded funds. According to SoSoValue data, the products recorded $389.71 million in combined net outflows between Aug. 10 and Aug. 14.

Investors withdrew $144.67 million on Monday, followed by further outflows of $61.16 million on Wednesday, $131.13 million on Thursday, and $57.63 million on Friday.

The weekly withdrawals followed the funds’ strongest inflow week since April, suggesting that US institutional demand has not yet established a steady recovery. Continued redemptions could make it harder for Bitcoin to sustain a move above $65,000.

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US regulatory expectations have also weakened. Polymarket traders assigned the CLARITY Act a roughly 20% chance of becoming law in 2026 on Aug. 17, down from above 80% earlier in the year.

The decline followed the Senate’s failure to advance the crypto market structure legislation before its recess. Lower passage odds do not directly determine Bitcoin’s price, but they reflect fading expectations that US lawmakers will provide clear rules for crypto markets this year.

Bitcoin liquidation map points to $64,000 battle

CoinGlass’s one-week liquidation heatmap shows large concentrations of leveraged positions above Bitcoin’s current price.

The nearest major liquidity band sits around $64,000–$64,200. A brighter and larger cluster appears between approximately $64,700 and $64,900, while additional positions are concentrated above $65,000.

Price often moves toward areas with heavy liquidity because those levels contain stop orders and liquidation points. If Bitcoin clears $64,200, forced closures of short positions could accelerate the move toward $64,800 and then $65,500.

The heatmap also shows a large downside cluster near $62,200–$62,300. Failure to hold $62,700 could therefore pull the market toward that liquidity before buyers get another opportunity to defend the broader range.

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Lower liquidity also appears around $61,500, with the daily swing low near $57,800 remaining the larger bearish reference point.

The wide separation between major liquidation zones means BTC could experience sharp price swings even if the overall daily range remains unchanged.

Bitcoin must reclaim $65,500 to change the trend

Analyst Ted Pillows said Bitcoin had held above $62,000 but needed to break $65,500 to develop stronger bullish momentum.

“Bitcoin held above the $62,000 level and is now bouncing back,” Pillows wrote on X.

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He identified $61,900 as the main downside threshold and said a loss of that level could expose the $59,000–$60,000 region.

The daily chart supports a cautious outlook. The Aroon Down reading stood at 42.86%, while Aroon Up was at 0%, showing that the market had not recently established a meaningful new high. Bear Bull Power also remained negative at -834.98, indicating that sellers retained an advantage on the wider timeframe despite the daily gain.

For the bullish case, Bitcoin must first close above $63,700 and $64,344. A break through the liquidation clusters near $64,800 would then allow buyers to challenge $65,500, followed by the June resistance around $67,376.

A daily close above $67,376 would mark a stronger change in market structure and open a possible move toward the 50% Fibonacci level at $70,333.

The bearish case begins with another rejection below $64,000. A drop through $63,166 would weaken the latest recovery, while losses below $62,200 and $61,900 could trigger liquidations toward $60,000.

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Geopolitical and energy-market risks may add to that volatility. Notably, Brent crude rose above $89 as US-Iran negotiations remained stalled and shipping through the Strait of Hormuz slowed.

Only five commodity vessels crossed the strait on Saturday, compared with 31 during the previous weekend. Higher oil prices could renew inflation concerns and keep US interest rates elevated, limiting the amount of capital available for risk assets.

Bitcoin’s rebound has therefore protected the $62,500 floor, but the move remains a recovery inside a broader range. A break above $65,500 would strengthen the bullish case, while a loss of $61,900 would shift attention back to $59,000–$60,000.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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[PRESS RELEASE – Kingstown, Saint Vincent and the Grenadines, August 17th, 2026]

BITmarkets has published a new study, Crypto and Elite Athletes: More Than Just a Sponsorship, exploring what happened when crypto’s rapid rise met the world of elite sport. From NFT collections and fan tokens to equity deals and salaries converted into bitcoin, the study looks behind the headlines at how some of the biggest names in sport became involved with digital assets.

Following its recent analysis of football clubs and competitions, BITmarkets has now shifted the focus from teams to individual athletes across football, basketball, American football, baseball and tennis. Rather than simply asking who signed the biggest deal, the study compares how the partnerships worked, what each athlete brought to them and how the market changed after 2022.

Which Athletes Made the Top 10?

The ranking brings together Cristiano Ronaldo, Lionel Messi, Tom Brady, Stephen Curry, Shohei Ohtani, Serena Williams, Naomi Osaka, Trevor Lawrence and Shaquille O’Neal, together with Klay Thompson and Andre Iguodala. The familiar names, however, are only the start of the story. The full chart shows how differently the deals were built, from multi-year ambassador roles and NFT projects to venture investments, equity stakes and payments converted into crypto assets.

How Big Did Crypto Sponsorship Become?

BITmarkets notes that global crypto sports sponsorship spending exceeded $742 million in 2022 across 230 active contracts. In the NBA, crypto moved from the 43rd-largest corporate sponsorship category to the second-largest within a single season, generating an estimated $100 million to $150 million in annual team and league revenue.

Those figures help explain why athlete deals quickly became more ambitious than standard advertising contracts. Some ambassadors received equity or tokens alongside promotional fees, while others chose direct exposure to crypto through payment conversions. The study traces examples ranging from Russell Okung converting half of his NFL salary into bitcoin to partnerships in which Klay Thompson and Andre Iguodala converted parts of their salaries and supported bitcoin giveaways for fans.

From Hype to a More Cautious Model

The market disruption of 2022 changed that picture. High-profile corporate failures and tighter regulatory scrutiny reduced the appetite for sweeping promotional campaigns. In their place came a more selective model focused on compliant financial infrastructure, clearer disclosure and practical uses for the technology.

That change may be the study’s most revealing finding. Digital collectibles and fan tokens are increasingly being linked to tangible benefits such as physical rewards, stadium privileges and voting rights. The story is therefore not simply one of crypto sponsorships disappearing after the boom. It is one of the market learning what these partnerships need to offer if they are to last.

The complete study shows how every deal in the Top 10 was structured, which partnerships went beyond a traditional endorsement and how the market’s legal and regulatory reckoning changed the playbook. The full chart and supporting sources are available on the BITmarkets website.

About BITmarkets

BITmarkets is a cryptocurrency exchange that offers 24/7 support. Traders can engage in trading over 200 cryptocurrencies, as well as gain access to daily market updates and diverse educational materials. Security is a top priority at BITmarkets, with 99.9% of client funds held in cold storage. BITmarkets continues to reshape the way digital assets are used by both retail and institutional clients, focusing on making cryptocurrency more accessible, straightforward and better connected to the broader financial world. Users can learn more about BITmarkets’ license and regulatory framework, and for general information, visit www.bitmarkets.com or the exchange’s listing on CoinMarketCap.com.

The company values the trust placed in the BITmarkets brand. Users are advised to remain cautious of fraudulent websites, communications or social platforms impersonating BITmarkets or using similar branding, such as its name or logo. URLs should be verified and interactions should take place only through official channels. BITmarkets will never request sensitive information via unofficial or unsolicited messages. If in doubt, users can contact the company through the official support desk.

Crypto assets are unregulated, decentralised and highly volatile assets that entail substantial risks, and investors may lose all invested capital. Past or current performance, including unrealized gains, does not guarantee future results.

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