David - Cryptocurrency Enthusiast
On August 4, Bitcoin experienced a minor uptick during the Wall Street opening as it reacted to mixed US unemployment data, impacting the strength of the US dollar.
BTC/USD reached daily highs of $29,273, while US jobless figures came in slightly below expectations at 3.5%, as opposed to the estimated 3.6%. Additionally, the number of jobs added was lower than forecasted, leading to varied interpretations of the data's implications.
Financial commentator Holger Zschaepitz noted that the data had "no clear message," while The Kobeissi Letter emphasized the labor market's resilience, dubbing it the most robust in history.
Despite the mixed signals, both US stocks and Bitcoin managed to achieve modest gains, whereas the US dollar faced pressure, potentially paving the way for a more pronounced Bitcoin price rebound.
The US Dollar Index (DXY) dropped by 0.6% to 101.8, hitting new lows for August. Michaël van de Poppe, founder and CEO of trading firm Eight, suggested that BTC/USD could see further improvements as the macroeconomic data continues to unfold. He pointed to the upcoming Consumer Price Index inflation print for June, scheduled for August 10, as a key factor to watch.
While some traders noted brief trusted Bitcoin price volatility, the overall market response was deemed "very interesting." On-chain monitoring resource Material Indicators closely monitored liquidity changes on the Binance BTC/USD order book.
Looking ahead, the market expects the Bitcoin price to remain range-bound heading into the weekend. Popular trader Crypto Tony predicted that BTC would likely remain above a specific support zone during this period, suggesting a continuation of the current sideways legal cryptocurrency trading environment.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards