This episode of Markets Daily is sponsored by Cracken.

It's Friday, September 8th, 2020, and this is Markets Daily from CoinDesk.

Hi, I'm Michelle Muso here with your Crypto Markets Roundup.

On today's show, we're talking Bitcoin, FtX political donations, and more.

And just a reminder, CoinDesk is a news source and does not provide investment advice.

Bitcoin showed some signs of stirring from its September stupor late on Thursday.

Bitcoin rose around 3% to $26,400

before dropping back below $26,000 during the European morning. The CoinDisk Market Index,

CMI, also hit its highest point this month, rising over 2% before retreating. Bitcoin has mostly

languished below $26,000 this month as traders

awaited clarity around the big regulatory hotspots. The biggest news traders await is the SEC's

decision on the listing of a spot Bitcoin ETF in the U.S. September is historically a difficult

month for Bitcoin, which has posted negative returns every year since 2016.

And for 2023, it looks so far to be no exception.

The battered crypto market awaits the Bitcoin blockchain's fourth mining reward-having due in April

2024. Positive outlooks hope the halving would kickstart a major run higher, living up to

its past reputation as a major bullish catalyst. Reward halvings kickstart a major run higher, living up to its past reputation as a major bullish

catalyst. Reward halvings refer to already programmed code that reduces Bitcoin's pace of supply

expansion by 50% every four years. Traders, however, should note that previously halvings did not

necessarily catalysts will run single-handedly. Macro likely also played a significant role,

mainly in the form of abundant fiat liquidity conditions,

according to data tracked by Macro Micro.

...