Weekly roundup: bitcoin in a zone of uncertainty, miners flee to AI, and hackers master neural networks
The outgoing seven days were eventful: the leading cryptocurrency pulled back to monthly lows, public miners are mass-selling mined coins to pivot toward AI infrastructure, and neural networks are becoming a full-fledged tool for both hackers and defenders. Plus, Moscow law enforcement paid a visit to the legendary "Gorbushka."
Bitcoin: bounce exhausted, market in a "compressed" phase
The July momentum has fizzled out. On August 14, the BTC rate fell below $63,000, erasing all the gains of the previous week. Notably, over the weekend analysts were still drawing bullish scenarios: resistance levels at $67,000 and $72,000, calculated based on the realized price of short-term holders, seemed achievable. BlackRock even declared a shift in sentiment and a decoupling from the stock market.
However, the market structure, according to Glassnode, looks "compressed": the asset is squeezed between the median realized price of $63,000 and the cost basis of short-term investors at $68,700. A break below the lower boundary opens a direct path to $58,500. And judging by the dynamics, the bears are playing out this scenario.
Over the week, bitcoin lost 3.3%, settling near $63,000. Ether fell 2.1% to $1,880. Among major altcoins, only Hyperliquid's HYPE token is in the green (+4.7%). The fear and greed index is stuck in the "fear" zone at 34 points, and the market capitalization shrank from $2.22 trillion to $2.17 trillion. Spot bitcoin ETFs recorded their largest weekly outflow since early July at $398.7 million — institutions are clearly locking in profits.
Miners: a business model shift or a forced measure?
The selling of bitcoins by miners is no longer a crisis-response move. This is a systemic reversal. The former Bitfarms (now Keel Infrastructure) has completely decommissioned its U.S. capacity for AI data centers. Riot Platforms signed a $9.1 billion contract with Anthropic within days, sold 4,300 BTC, and raised up to $573 million for building an AI campus in Texas.
The scale is impressive: MARA sold 23,093 BTC worth $1.6 billion in the first half of the year. The reasons are obvious: fee revenues have fallen to a decade low, and public companies have cut their hash rate by 21.2% over three quarters. The economics of mining no longer justify the costs, and investors demand new growth stories. This is a fundamental shift that will exert pressure on the BTC price in the medium term.
Cybersecurity: AI as both weapon and shield
Neural networks have firmly established themselves on both sides of the barricades. The situation with Bitcoin Red Team is telling: volunteers testing infrastructure lost access to OpenAI and returned to Chinese models. Meanwhile, North Korean hackers from Kimsuky are already actively using local AI systems against crypto companies, and Taiwan has revealed details of a breach of government institutions using AI agents.
I'll separately note the campaign against hardware wallets: at least 1,778.84 BTC ($112.7 million) was stolen from vulnerable Coldcard devices, and new attacks ceased after August 6. But manufacturers are also bearing reputational losses: Trezor and SafePal reported data leaks affecting tens of thousands of users through logistics partners. Anthropic's research showing that multi-agent systems are prone to lying and collusion only confirms: we are entering a new era of cyberwarfare where the stakes are higher and defense is more complex.
Russia: pressure on exchangers and banking compliance
The searches at "Gorbushka" are just the tip of the iceberg. Banks have begun requesting explanations from legal entities regarding USDT transactions, citing a non-existent registry of exchange operators from the Central Bank. This is the logic of self-insurance by credit institutions, driven by Rosfinmonitoring. The situation will become clearer after September 1, when the "On Digital Currency" law takes effect, while the State Duma is simultaneously considering a bill on criminal liability for illegal crypto circulation.
Institutions and regulation
Israel's largest bank is launching bitcoin and ether trading through a partnership with Galaxy Digital, and Norway's sovereign wealth fund has disclosed a stake in BitMine. However, bitcoin treasuries risk being dropped from MSCI indices, and analysts estimate only a 10% probability of the Clarity Act being passed.
My view: the market is in a consolidation phase before a decisive move. ETF outflows and miner sell-offs create a supply overhang, but institutional adoption continues to expand. The key level is $63,000. Holding this mark will offer a chance for recovery toward $68,000, while a break would open the path to $58,500. Watch liquidity and the actions of major players.