Bitcoin: Luke Dashjr BIP-110 Fork Draws Criticism

Bitcoin developer Luke Dashjr faces sharp rebuke from André Dragosch after plans surfaced for a September 1 proof-of-work hard fork via Bitcoin Knots modifications based on BIP-110, adopting an altcoin mining algorithm to ensure immediate ASIC availability and effectively launching a new chain.

The move echoes past splits like BCH and BSV, raising questions around BTC price prediction models and potential crypto market crash scenarios if miner hash rate fragments, while AI industry impact on protocol governance draws fresh scrutiny.

Price action on the 4h chart shows BTC trading inside Bollinger Bands with upper resistance at $65410.07 and lower support at $64449.71; the bullish EMA structure places concrete support at the 50-EMA of $64545.03 and 200-EMA of $63766.12, yet the MACD death cross at 194.33 signals weakening momentum even as RSI at 59.88 stays neutral, suggesting a probable retracement to EMA50 before any continuation higher.