Crypto Daily | Bitcoin Rises to $68,670; Expert Predicts Bitcoin Cycle Bottom Formation in Late September or Early October

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Bitcoin(BTC) Rises to $68,670 with a 0.7% Increase in 24 Hours

Bitcoin rose to $68,670, with a narrowed 0.7% increase in 24 hours.

Block’s Dorsey Outlines AI-Powered Vision to Cut Middle Managers

Jack Dorsey is pitching artificial intelligence as a replacement for middle managers in his reimagined view of how technology companies should function, weeks after Block Inc. announced it was cutting nearly half its staff.

Dorsey outlined his thesis for the future of organizational structures in a blog post co-authored by Sequoia Capital partner Roelof Botha, arguing that AI could replace layers of management that traditionally coordinate work across companies.

The post comes after Block said it was cutting about 4,000 employees in February, describing the decision as a bet on artificial intelligence changing the future of work, even as tech companies more broadly have been trimming roles following years of rapid hiring.

Google Paper Warns Crypto on Quantum Risk Ahead of 2029 Timeline

Google researchers warned that future quantum computers may be able to break some of the cryptography protecting Bitcoin and other digital assets with fewer resources than previously thought, adding urgency to the debate over how the industry should prepare.

The researchers did not indicate such a machine exists today, but said new work suggests the computing power needed to carry out that kind of attack may be lower than many earlier estimates had suggested.

In a Google Research blog post, the researchers said a future quantum computer could break elliptic-curve cryptography, a form of public-key encryption technique used across much of the market.

DeFi Technologies Posts Preliminary 2025 Revenue of $99.1M, Net Income of $62.7M

DeFi Technologies (DEFT) said on Tuesday it reported preliminary unaudited 2025 revenue of $99.1 million and net income of $62.7 million, both record highs.

The company said annual revenue rose 215% from a year earlier, while it swung to a profit from a net loss in 2024.

For the fourth quarter, DeFi reported revenue of $20.0 million and net income of $28.9 million, compared with a loss a year earlier.

Expert Predicts Bitcoin Cycle Bottom Formation in Late September or Early October

Alfractal CEO Joao Wedson has projected that a Bitcoin cycle bottom might emerge between 912 and 922 days following the halving event, suggesting a timeframe of late September or early October this year. According to NS3.AI, Wedson noted that the latest Bitcoin peak occurred 534 days post-halving, which is shorter compared to the previous cycle's 546 days.

Cathie Wood Adds OpenAI to ARK Investment Funds

Cathie Wood has incorporated OpenAI into the ARKK, ARKF, and ARKW funds, according to ChainCatcher. Each fund will hold approximately a 3% stake, allowing retail investors to directly invest in one of the world's most sought-after private companies.

Ark Invest had previously announced its holding in OpenAI through its ARK Venture Fund, a private VC fund, in 2024 and has increased its stake multiple times, including a $250 million investment in October 2024.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Tuesday was $117.63 million. The total net asset value of Bitcoin spot ETFs is $87.46 billion, and the ETF net asset ratio (market value compared to the total Bitcoin market value) is 6.40%.

The Bitcoin spot ETF with the highest net inflow was iShares Bitcoin Trust ETF, with a net inflow of $98.42 million, according to SoSoValue.

SoSoValue