Bitcoin’s price behavior is “unusual,” according to recent data on open interest, which is rising despite the price falling. Furthermore, institutions have not rushed in to buy the dip this time, as they did earlier in August, so we could see BTC fall further unless weekend volatility wants to throw a spanner in the works once again. Elsewhere, EigenLayer’s total value locked surged 11% in a week, ZachXBT uncovers a network of North Korean devs making a fortune at crypto projects, and Sotheby’s starts to auction some blue chip art NFTs.

Further reading:

• Bitcoin has room to fall amid ‘unusual’ open interest — CoinGlass
• Institutions not so interested in Bitcoin at $58K, metric shows
• EigenLayer TVL hits $12.9B, climbs 11% in one week — IntoTheBlock
• ZachXBT claims 21 North Korea crypto devs are making $500K a month
• Sotheby’s to sell CryptoPunk and Beeple NFT at digital auction

So, grab yourself a coffee, and let’s get into it!

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