Сьогоднішні новини про криптовалюту та Bitcoin

On October 18, the crypto world saw significant developments. The FBI arrested a hacker responsible for breaching the SEC's X account in January. Aspen Digital reported that 94% of Asian private wealth is invested or considering crypto, highlighting growing interest. Additionally, Vitalik Buterin unveiled his ambitious plan for Ethereum called "The Surge." Meanwhile, Bitcoin's spot ETFs in the U.S. crossed $20 billion in net flows, demonstrating rising investor confidence.   The crypto market remains in the greed territory today, with the Crypto Fear & Greed Index increasing from 71 to 73. Bitcoin (BTC) has shown some positive momentum, trading above $67,993.90 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.    Quick Market Updates  Prices (UTC+8 8:00): BTC: $67,424, -0.29%, ETH: $2,605, -0.22% 24-hour Long/Short: 49.7%/50.3% Yesterday’s Fear and Greed Index: 73 (71 24 hours ago), level: Greed Crypto Fear & Greed Index | Source: Alternative.me   Read More: Trump’s Crypto Platform Raising Only $12 Million (WLFI), Stripe in Talks to Acquire Bridge: Oct 17   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change AIC/USDT      -0.67% BTC/USDT      +0.48% HACHI/USDT  728.22%   Trade now on KuCoin   Quick Take on the Highlights in the Crypto Space for Oct. 18 U.S. retail sales in September grew by 0.4%, surpassing expectations. The European Central Bank cut interest rates by 25 basis points. Aspen Digital reported that 76% of surveyed family offices and wealthy individuals in Asia are investing in digital assets; another 18% plan to join soon. Polymarket predicts a 64% chance of Bitcoin reaching $70,000 this month. The FBI arrested a man for posting fake Bitcoin ETF approval on the SEC's X account. FBI Arrests Hacker Behind SEC's X Account Breach On October 17, the FBI arrested Eric Council Jr. for hacking the SEC’s X account in January. He used a SIM swap attack to gain control of the SEC's social media, posting a fake announcement about a spot Bitcoin ETF approval. This event caused chaos which in turn caused Bitcoin’s price to spike, and investors scrambled. It was a stark reminder of how vulnerable even powerful institutions are to cyberattacks like SIM swapping. U.S. Attorney Matthew Graves highlighted the financial and personal damage such attacks can cause. Council now faces identity theft and fraud charges.   The SEC acted quickly. Chair Gary Gensler stepped in 15 minutes after the post went live, clarifying that no ETF had been approved. But the next day, the SEC did approve 11 spot Bitcoin ETFs. These funds now hold a combined $63.5 billion, underscoring the growing institutional interest in Bitcoin despite the earlier chaos.   Source: X   94% of Asian Private Wealth Investing or Considering Crypto A report from Aspen Digital shows that 94% of private wealth in Asia is either invested in or planning to invest in crypto. Interest has surged, up from 58% in 2022 to 76% already investing, with 18% more planning to. The survey, covering 80 family offices and high-net-worth individuals managing $10 million to $500 million, found most have less than 5% of their portfolios in digital assets. Interest is high in decentralized finance (DeFi), artificial intelligence, and decentralized infrastructure.   Change in blockchain interest in Asia. Source: Aspen Digital   Spot Bitcoin ETFs are also driving interest. 53% of respondents gain exposure through ETFs. This aligns with a global rise in crypto adoption driven by regulatory clarity and the launch of ETFs in the US and Asia. Bitcoin and Ether ETFs launched in Hong Kong in April, while the US started spot Bitcoin ETFs in January 2024.   Many surveyed investors remain optimistic. 31% believe Bitcoin will hit $100,000 by year-end, showing strong bullish sentiment among Asia’s private wealth.   U.S. Spot Bitcoin ETFs Cross $20 Billion in Net Flows On October 17, U.S. spot Bitcoin ETFs hit a milestone—crossing $20 billion in total net flows. This happened in just 10 months, which is incredibly fast compared to gold ETFs, which took five years to reach the same level. This rapid growth points to Bitcoin's increasing legitimacy as a store of value, comparable to traditional assets like gold.   Eric Balchunas, a senior ETF analyst at Bloomberg, called the $20 billion mark the hardest metric to grow for ETFs. The past week alone saw $1.5 billion in inflows, signaling strong investor confidence, especially with improving regulatory clarity around these products. Data from Farside Investors showed that on October 16, Bitcoin ETFs added $458 million worth of BTC, showing continued strong demand.   Source: Eric Balchunas   This growth also reflects a shift in how investors want exposure to Bitcoin. More people want access through regulated financial products, overseen by established institutions. The surge in net flows signals Bitcoin’s growing acceptance among mainstream investors, a positive sign for its long-term prospects.   Read more: Best Spot Bitcoin ETFs to Buy in 2024   Vitalik Buterin's Vision for “The Surge” in Ethereum's Roadmap Vitalik Buterin recently laid out an ambitious plan for Ethereum, called "The Surge." The goal? Scale Ethereum to handle over 100,000 transactions per second (TPS). To do that, Buterin wants to improve both Ethereum's main blockchain and its layer 2 solutions, like rollups. It's not just about speed; it’s about making Ethereum more efficient, accessible, and user-friendly.   Buterin stressed that Layer 2 networks should feel like a unified part of Ethereum, not separate chains. Right now, different L2 solutions can feel fragmented, which can confuse users. Buterin envisions a seamless experience where using an L2 feels just like using the main Ethereum network. This would make it easier for both new users and developers, helping Ethereum grow into a more cohesive and approachable platform.   The other big focus is on cost-cutting. Merging these will optimize computations on Ethereum to ensure a cheaper and highly scalable base layer, enabling the main chain to manage the demand that comes from L2 rollups.This would make the context in which developers have to work much easier, while users will pay lower fees and notice no difference at all.   The goal of "The Surge" is to complete Ethereum’s rollup-centric roadmap while keeping decentralization and security intact. By focusing on scaling, improving user experience, and enhancing interoperability, Buterin wants to make Ethereum a more robust and easy-to-use platform. This is about laying the foundation for Ethereum to continue evolving as a key player in decentralized infrastructure globally.   Read more: Ethereum 2.0 Upgrade   Conclusion The top headlines today underscore the growing adoption of crypto assets and the steps regulators and industry leaders are taking to secure and scale the ecosystem. The arrest related to the SEC hack reminds us of ongoing cybersecurity challenges, while the increased interest in Bitcoin ETFs and Ethereum’s scaling plans reflect the sector's potential. Investors across Asia, coupled with new products like ETFs and technological improvements led by Vitalik Buterin, signal a promising outlook for digital assets in the evolving financial landscape.

BTC$104 640,50-2,50%

ETH$2 516,80-8,16%

The convergence of political dynamics, renewed interest in BTC ETFs, and macroeconomic factors like the debasement trade are all contributing to Bitcoin’s surge toward $68,000. Bitcoin ETFs are playing a pivotal role in this rally, attracting increased inflows and clearing key technical levels as investors seek exposure to Bitcoin in traditional financial markets. Payments processor Stripe is ‘engaged in exclusive negotiations’ regarding the acquisition of the stablecoin fintech platform Bridge and Trump’s WLFI token only raised $12.5 million by the time of writing – much less than his intended goal.   The crypto market remains in the greed territory today, with the Crypto Fear & Greed Index decreasing from 73 to 71. Bitcoin (BTC) has shown positive momentum, trading above $68,000 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.   Quick Market Updates  Prices (UTC+8 8:00): BTC: $67,618, +0.81%; ETH: $2,611, +0.14% 24-hour Long/Short: 50.7% / 49.3% Yesterday’s Fear and Greed Index: 71 (73 24 hours ago), level: Greed Crypto Fear & Greed Index | Source: Alternative.me   Read More: Ethereum’s Future, Bitcoin's Price Surge, and Q3 Insights: Crypto Market Flatlines at $2.3 Trillion: Oct 15   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change AIC/USDT      +16.78% BTC/USDT      +0.52% CRAI/USDT  +7.84%   Trade now on KuCoin   Quick Take on the Highlights in the Crypto Space for Oct. 17 Trump’s probability of being elected president on Polymarket rose to 60.5%, a record high. Musk donated $75 million to support Trump. Trump’s family crypto project $WLFI updated token terms: non-transferable within one year, no plans to create a secondary market currently. Also, Trump’s son will attend the Bitcoin MENA Summit.  Crypto exchange Kraken launched re-staking on the Ethereum-based protocol EigenLayer. Stripe is in advanced talks to acquire Bridge, a fintech company focused on stablecoins Stripe is in talks to acquire Bridge, a Fintech Company Focused on Stablecoins Payments processor Stripe is ‘engaged in exclusive negotiations’ regarding the acquisition of the stablecoin fintech platform Bridge – a move that could signify an even greater foray into the ever-expanding alternative payments technology market.    Last month, Bridge completed a Series A funding round and raised $40M, where Sequoia Capital was the lead investor. The company has developed a platform that allows creation, custody and exchange of stablecoins including GUSD and USDC.   With the increasing use of stablecoins as a means of payment, Stripe had also begun to execute stablecoin transfers. In the previous week, the company revealed that merchants in the USA would be able to process cryptocurrency payments for the USDC stablecoin, having not ventured into the digital tokens market for nearly six years.   Italy Considers Raising Bitcoin Capital Gains Tax to 42% in 2025 The Italian government is contemplating a significant increase in the capital gains tax on Bitcoin, potentially raising it from 26% to a steep 42% by 2025. Deputy Economy Minister Maurizio Leo made the announcement during a press conference at Palazzo Chigi on October 16, where he discussed Italy’s new budget bill recently approved by the Council of Ministers.   According to Leo, this proposal to raise the withholding tax on Bitcoin profits is part of the broader changes included in the budget bill. He also noted the removal of the minimum revenue threshold for Italy's "web tax" or Digital Services Tax (DST), which has applied to companies earning at least 750 million euros annually and 5.5 million euros from digital services in Italy.    This potential tax hike follows Italy's decision in late 2022 to increase the capital gains tax on crypto trades exceeding 2,000 euros to 26%, a move made as part of the 2023 budget.   Trump’s Crypto Platform Token Sale Misses Mark, Raising Only $10 Million World Liberty Financial’s website shows its WLFI token is far under the $300 million goal it set for public sale. Source: World Liberty Financial The Trump family’s new crypto platform, World Liberty Financial (WLFI), faced a rocky start with its token sale on October 15, raising only 3.4% of its $300 million goal on the first day. The WLFI token, priced at 1.5 cents each, had 20 billion tokens available for public sale, but only over 837  million, roughly $12.5 million worth, were sold at the time of writing.   Despite the platform claiming to have 100,000 sign-ups before launch, Etherscan data  revealed only 6,832 unique wallets holding the WLFI token. Compounding the disappointing sales, the platform’s website crashed due to overwhelming traffic, rendering it unavailable for several hours.   Donald Trump, the project’s "Chief Crypto Advocate," took to social media on October 15 to promote the token sale, saying, “Crypto is the future, let’s embrace this incredible technology and lead the world in the digital economy.” His sons, Eric, Barron, and Donald Jr., are also listed as "Web3 Ambassadors" for the project.   Bitcoin Reaches New Record: Market Attention Pushed the Price Up To $68,323. Is a Major Breakout Approaching? The most popular virtual currency in the world, Bitcoin (BTC), unusually increased to $68,323  on 16th October 2024. It has been 80 days since we saw a similar price level on June 7th. So, what’s behind this sudden surge? Most people point to a BlackRock’s Q3 earnings call that took place about 2 days earlier. As Bitcoin price approaches the $70,000 mark, for some experts it is no longer far fetched to consider the possibility of a major breakout soon.   Within the past week, Bitcoin appeared to be on the longer path towards the piece of $68,323  last week it has reached in nearly 3 months. This increase is impressive because this is the first time that there has been such a strong confidence coming from the market given that earlier in the year the market had been a bit shaky. On October 16th, Bitcoin was in a very strong bullish trend mainly fueled by strong growing institutional demand, a healthy state of the economy, and positive structures in the charts.   A majority of such rally appears to be tracing its roots to the BlackRock Q3 earnings report and the recent talk of their intentions to increase towards the crypto market. For quite a number of months, there has been a watchful eye on BlackRock, and their persistent foray into digital assets is ensuring that there is hope.   Source: KuCoin BTC Price Last 24 Hrs    Read More: Crypto Surpasses $67,000, Tesla Moves $770 Million BTC, Bitcoin ETFs Surge and More: Oct 16   Conclusion In summary, the convergence of political events, renewed interest in Bitcoin ETFs, and macroeconomic factors are fueling Bitcoin’s upward trend towards $68,000. Bitcoin ETFs are playing a central role in this rally, with significant inflows pushing prices higher as investors seek traditional market exposure to BTC. Meanwhile, Stripe’s acquisition talks with Bridge underscore the increasing mainstream adoption of crypto payment technologies. Additionally, Trump’s WLFI token sale fell short of expectations, and Italy considers a steep Bitcoin tax hike. These events illustrate the evolving landscape and growing institutional interest in digital assets.

The status of the cryptocurrency market keeps changing very rapidly in October while BTC surpasses $67,000 today. Tesla decided to move $770 million BTC to multiple different wallets today. Milestones have been reached by Bitcoin ETFs, Ripple has ventured into stablecoins, there is increasing institutional demand, and mainstreaming is on the increase. The purpose of this article is to analyze the recent advances in Bitcoin exchange-traded funds, stablecoin initiatives of Ripple, and the growth of the cryptocurrency markets in general. The pace of change that these trends represent suggests adoption and assimilation of cryptocurrencies into mainstream finance.   The crypto market remains in the greed territory today, with the Crypto Fear & Greed Index increasing from 65 to 73. Bitcoin (BTC) has shown positive momentum, trading above $67,000 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.   Quick Market Updates  Prices (UTC+8 8:00): BTC: $67,071, +1.49%; ETH: $2,607, -0.85% 24-hour Long/Short: 50.1% / 49.9% Yesterday’s Fear and Greed Index: 73 (65 24 hours ago), level: Greed Crypto Fear & Greed Index | Source: Alternative.me   Read More: Ethereum’s Future, Bitcoin's Price Surge, and Q3 Insights: Crypto Market Flatlines at $2.3 Trillion: Oct 15   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change HOOK/USDT      +2.81% SUI/USDT      -7.31% AEVO/USDT  +0.41%   Trade now on KuCoin   Industry Highlights Fed’s Bostic: Expected to cut rates by another 25 basis points this year, following the 50 basis points cut in September. Trump family’s crypto project WLFI latest sales: $9.66 million. Tesla transferred all its Bitcoin worth over $770 million to multiple new addresses. Paxos launched a stablecoin payment platform. Ripple announced the first batch of exchanges and platform partners for the RLUSD stablecoin. Tesla Moves $770 Million in BTC to Multiple New Addresses Today Tesla, the electric car manufacturer run by Elon Musk, moved 11509 bitcoins worth around $770 million dollars to new addresses, states onchain data provided by analytics group Arkham Research. This most likely is all that is left from the company’s bitcoin treasury.   In the last hour, the firm which previously made a historical $1.5 billion into bitcoin halfway through February 2021 has transferred around $770 million in bitcoin to approximately 7 new wallets. These movements of tokens were the tracks of what appears to be six bogus transfers, making it the first direct movement from Tesla wallets since it offloaded most of its bitcoin holdings in 2022.   As of Oct. 15, Bitcoin had a cumulative value of approximately 9,720 BTC valued at approximately 650 million dollars, a sharp downturn from the 43,000 BTC it previously held BTC-value. On the other hand, Arkham hive believes that there are up to 11,509 BTC within 68 different Bitcoin addresses worth 770 million at the rate today. Musk's space flight company is expected to have an extra 8,285 Bitcoin assets according to the estimates of BitcoinTreasuries.   Among publicly traded BTC holders organizations, Tesla ranks third after MicroStrategy and MARA (formerly Marathon Digital). Models manufactured by the electric vehicle producer are paid for in bitcoins.   Bitcoin ETFs: A Record-Breaking Surge The cryptocurrency market is evolving rapidly, marked by significant developments in Bitcoin exchange-traded funds (ETFs) and Ripple’s stablecoin initiatives. On October 14, US-based spot Bitcoin ETFs experienced a remarkable surge, recording net inflows of $555.9 million. This influx represents the largest single-day inflow since June, signaling increasing institutional interest in Bitcoin as a viable investment asset. Fidelity's ETF led the charge with $239.3 million in new capital, while Bitwise followed closely with over $100 million. Additionally, Franklin Templeton and Valkyrie reported their first inflows for October, along with the Grayscale Bitcoin Trust (GBTC) and its mini GBTC fund. According to ETF Store President Nate Geraci, this day was a "monster day" for Bitcoin ETFs, with total net inflows approaching $20 billion over the past ten months. This growth not only surpasses pre-launch demand estimates but also indicates a shift in investor behavior toward greater participation from financial advisors and institutional investors. Daily Bitcoin ETF inflows (green) on Oct. 14 were the highest since June. Source: CoinGlass   Read More: MicroStrategy Eyes Trillion-Dollar Valuation, WLFI Token Sale Approaches, and Bitcoin Search Volume Drops to Yearly Low: Oct 14   Ripple’s RLUSD: The Future of Stablecoins In another significant development, Ripple announced partnerships with several prominent exchanges to facilitate the distribution of its upcoming RLUSD stablecoin. Partners include Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Ripple's CEO Brad Garlinghouse emphasized that there has been strong demand from customers for high-quality stablecoins like RLUSD to support various financial applications such as payments, asset tokenization, and decentralized finance (DeFi).    Ripple CEO Brad Garlinghouse, who wrote in an Oct. 15 announcement:   “Customers and partners have been asking for high-quality stablecoins like RLUSD to use across various financial use cases, such as payments, tokenization of real-world assets, and decentralized finance.”   The RLUSD stablecoin is designed to be an enterprise-grade solution that will be overcollateralized, meaning each unit will be backed 1:1 by US dollar reserves or short-term cash equivalents. Ripple has already deployed RLUSD for testing on both the XRP Ledger and Ethereum mainnets since August 9. The company plans to leverage RLUSD alongside its existing XRP token to facilitate faster and more cost-effective cross-border payments.   Conclusion Bitcoin ETFs have pulled in record inflows, Ripple’s RLUSD stable coin is on the rise, and the market continues to mature. Furthermore, Tesla moved 11509 bitcoins worth around $770 million dollars to new addresses. There is definitely rising institutional interest in the space, new innovations are coming forth, and digital assets are becoming embedded within the conventional economy. The situation of cryptocurrency seems favorable, with better chances for investments and greater acceptance in this circle. As always, investors should remain cautious in navigating both opportunities and risks in this dynamic market. Stay tuned to KuCoin news for the latest trends and updates.

The crypto market experienced an upswing today led by major tokens such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The global market capitalization increased by 1.8%, reaching approximately $2.23 trillion. Bitcoin surged past $66,000, showing significant price momentum. Ethereum co-founder Vitalik Buterin also shared insights on Ethereum's progress after the Merge, discussing opportunities for further improvement. These developments reflect growing optimism and positive trends in the crypto market.   The crypto market is in the greed territory today, with the Crypto Fear & Greed Index increasing from 48 to 65.  Bitcoin (BTC) has shown positive momentum, trading above $66,000 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.   Quick Market Updates  Prices (UTC+8 8:00): BTC: $66,087, +5.11%; ETH: $2,630, +6.53% 24-hour Long/Short: 52.1%/47.9% Today’s Fear and Greed Index: 65 (48 24 hours ago), level: Greed   Crypto Fear & Greed Index | Source: Alternative.me   Read More: MicroStrategy Eyes Trillion-Dollar Valuation, WLFI Token Sale Approaches, and Bitcoin Search Volume Drops to Yearly Low: Oct 14   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change SUI/USDT      +0.18% SOS/USDT  +41.07% BTC/USDT  +5.00%   Trade now on KuCoin   Industry Highlights Fed’s Kashkari suggests that additional “moderate” rate cuts are advisable.   Tether is considering offering loans to companies in the commodity trading sector.   Deutsche Bank will offer foreign exchange services to the crypto market maker Keyrock.   Telegram plans to establish an office in Kazakhstan to enhance its regulatory compliance efforts.   HashKey is set to launch a tokenization initiative next year.   The Bitcoin staking platform Solv Protocol has secured $11 million in funding, with investors such as Laser Digital and Blockchain Capital, and is now valued at $200 million.  Vitalik Buterin Reflects on Ethereum’s Post-Merge Future Vitalik Buterin shared thoughts on Ethereum’s potential upgrades in a blog post on Oct. 14. He focused on faster transaction speeds and better access for solo stakers. After the Merge, which moved Ethereum to proof-of-stake, the network still takes up to 15 minutes for transactions. This causes delays and congestion. Due to the current staking barriers, Buterin wants to reduce the staking requirement from 32 ETH to 1 ETH, which could help more people participate in securing the network.     Bitcoin’s Price Surge and Market Movements On Oct. 14, Bitcoin jumped above $64,000, leading to more than $100 million in liquidations. Bitcoin hit a high of $64,173, its best level since late September. This price spike forced the liquidation of over $101.4 million in short positions, including $52.33 million in Bitcoin shorts. Overall, 54,649 traders were liquidated for $166 million.   Bitcoin’s rise reflects growing positive market sentiment. It gained 2.1% in the last 24 hours and reclaimed the $64,000 range after weeks of trading lower. This movement pushed Bitcoin’s dominance back to over 58%, a level not seen since April 2021. Ethereum also saw a boost, hitting a two-week high of $2,540 after gaining 2.9%.   Bitcoin short sellers made up over half of the short liquidations in the past 24 hours. Source: CoinGlass   Coingecko Q3 2024 Report: Key Market Trends Coingecko’s Q3 2024 report showed that the global crypto market cap dropped 1%, losing $95.8 billion. However, decentralized finance (DeFi) and NFTs continued to grow. Prediction markets saw a 565.4% increase, led by Polymarket. Ethereum layer two (L2) networks also grew by 17.2%, with the Base network making up 42.5% of that activity. Memecoins are  the top-performing digital asset sector in 2024, driven by new token creation on Solana, Tron, and most recently, Sui. The Sui memecoin space is among the most trending, following Solana memecoins and Tron memecoins in the crypto market lately.    CoinGecko’s Q3 report emphasizes a market characterized by resilience and changes in dominance. The evolving landscape of exchanges reveals ongoing competition among key players, indicating that innovation and adaptability will shape the future of the cryptocurrency sector.   Source: CoinGecko   Coingecko’s COO and co-founder, Bobby Ong stated, “In the final quarter of 2024, we’ll closely monitor geopolitical and macroeconomic factors—particularly the U.S. Presidential Elections and Fed monetary policy decisions—unfold.”   Read more: Memecoins Surge, Upbit Under Fire for Monopoly Concerns, and More: Oct 11   Conclusion: Bitcoin’s Volatility and Investment Considerations Bitcoin’s rise above $66,000 shows how quickly its price can change. While its performance is impressive, it remains highly volatile. If you plan to invest in Bitcoin, only put in money you’re comfortable losing. Diversifying your investments can help reduce the impact of Bitcoin’s fluctuations.  As detailed in Coingecko's Q3 report, the broader market has faced fluctuations, with a slight decrease in market capitalization alongside notable growth in decentralized finance and NFTs. The changing dynamics within major exchanges also reflect the competitive nature of this space.   In summary, the cryptocurrency landscape is marked by both opportunities and challenges. If you’re looking to invest, stay informed about market trends, and always prioritize risk management by diversifying your portfolio. As always, investors should remain cautious in navigating both opportunities and risks in this dynamic market. Stay tuned to KuCoin news for the latest trends and updates.

Last Friday, the U.S. Producer Price Index (PPI) for September remained flat compared to the previous month, easing concerns triggered by the Consumer Price Index (CPI). This relief sparked gains in both U.S. stocks and the crypto market over the weekend. As we move through this week, there are no significant macroeconomic data releases on the horizon. However, the market will closely watch earnings reports from tech giants TSMC and ASML, which could provide fresh insights into AI developments.   In today’s roundup of crypto news, MicroStrategy sets its sights on a trillion-dollar valuation as part of its plan to become the world’s leading bitcoin bank. Paradigm invests $20 million in a Layer 2 blockchain project, while Arkham prepares for the launch of a crypto derivatives exchange. Bitcoin search volumes have hit their lowest point since the FTX collapse, reflecting waning retail interest, while World Liberty Financial (backed by the Trump family) gears up for its WLFI token sale. Additionally, a massive phishing attack results in a crypto whale losing $35 million, and China’s upcoming fiscal stimulus announcement could bring fresh volatility to the market.   The crypto market remains in neutral territory today, with the Crypto Fear & Greed Index slightly decreasing from 50 to 48. Bitcoin (BTC) has shown positive momentum, trading above $63,800, up by over 2% in the past 24 hours. Despite recent fluctuations, the overall market sentiment remains steady.   Quick Market Updates  Prices (UTC+8 8:00): BTC: $64,359, +2.90%, ETH: $2,531, +3.16% 24-hour Long/Short Ratio: 57.775%/42.25.8% Today’s Fear and Greed Index: 48 (24 hours ago: 50), indicating neutral sentiment Crypto Fear & Greed Index | Source: Alternative.me   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change BRETT/USDT      +13.80% WLD/USDT  +9.58% ENA/USDT  +6.64%   Trade now on KuCoin   Industry Highlights The probability of a 25-basis-point rate cut by the U.S. Federal Reserve in November is now at 95.6%, with just a 4.4% chance of no rate cut. On Polymarket, Donald Trump’s chances of winning the U.S. election have risen to 54.9%, 10 percentage points higher than Kamala Harris. Google searches for Bitcoin have dropped to their lowest levels since the FTX collapse, reflecting declining retail interest. SpaceX’s “Starship” successfully ignited and launched, marking a significant milestone for space exploration. MicroStrategy Targets Trillion-Dollar Valuation in Bitcoin Bank Endgame Michael Saylor, CEO of MicroStrategy, revealed his vision for the company to become the world’s leading bitcoin bank, projecting a potential trillion-dollar valuation. Saylor believes Bitcoin, currently making up just 0.1% of global financial capital, could rise to 7% by 2045, pushing its price to $13 million.   Saylor also highlighted the firm’s strategy of leveraging capital markets to arbitrage between debt and Bitcoin, predicting that the cryptocurrency will grow at an average of 29% annually. MicroStrategy now holds 252,220 BTC, valued at over $15 billion.   "We just keep buying more. Bitcoin is going to go to millions a coin, you know, and then we create a trillion-dollar company," Saylor remarked.   Read more: MicroStrategy's Bitcoin Holdings and Purchase History: A Strategic Overview   China’s Fiscal Stimulus Announcement Could Impact Bitcoin China is set to announce new fiscal stimulus measures this Saturday, which could have a ripple effect on global financial markets, including crypto. Analysts predict that the announcement could bring increased volatility in Bitcoin prices, especially if the stimulus is more aggressive than expected.   "Easing monetary and fiscal conditions puts a bid under risk assets, and crypto is likely to benefit," said Alex Tapscott, Managing Director of Digital Asset Group.   ‘Bitcoin’ Search Volume Drops to a Yearly Low, While ‘Memecoin’ Surges Search interest for Bitcoin drops | Source: Google Trends    Google search volumes for the term “Bitcoin” reached a yearly low during the week of October 12, 2024, with interest dropping to 33 out of 100. Meanwhile, memecoins saw a surge in popularity, with a search volume of 77 out of 100 during the same period.   According to CryptoQuant CEO Ki Young Ju, search volume for memecoins could reclaim its previous all-time high by the end of October as market interest in these assets remains high. Memecoins have been the top-performing digital asset sector in 2024, driven by new token creation on Solana, Tron, and most recently, Sui. The Sui memecoin space is among the most trending, following Solana memecoins and Tron memecoins in the crypto market lately.    On October 9, nearly 20,000 new tokens were minted on the Solana network within 24 hours, many of which were memecoins. The memecoin craze on Solana has been fueled by platforms like Pump.Fun, which provide quick liquidity and low transaction fees on decentralized exchanges like Raydium.   Read more: Memecoins Surge, Upbit Under Fire for Monopoly Concerns, and More: Oct 11   World Liberty Financial to Launch WLFI Token Public Sale Source: Donald Trump on X    World Liberty Financial (WLF), a DeFi project backed by former President Donald Trump and his family, will launch the public sale of its WLFI tokens on October 15. The project, which opened its whitelist in late September, aims to raise $300 million by selling 20% of its token supply at a $1.5 billion valuation.   WLF plans to launch a version of the DeFi lending platform Aave on Ethereum and Layer 2 network Scroll, allowing users to lend and borrow assets like Bitcoin, Ether, and stablecoins. The Trump family’s involvement has drawn both support and criticism from the crypto community.   Read more: Top PolitiFi Coins to Watch in 2024   Uniswap’s New Layer 2 Blockchain Unichain Could Generate $468M Annually for UNI Holders UNI/USDT price chart | Source: KuCoin   Uniswap Labs has launched its new Layer 2 blockchain, Unichain, which could bring in nearly $500 million annually for UNI token holders by redirecting fees that would have previously gone to Ethereum validators. The move allows Uniswap to capture $368 million in transaction fees and up to $100 million in Maximum Extractable Value (MEV), boosting the potential earnings of both tokenholders and liquidity providers through staking.   However, Ethereum holders are expected to lose out due to fewer fees being burned on Ethereum, as Unichain redirects revenue to Uniswap’s ecosystem. Launched on October 10, Unichain aims to provide faster, cheaper transactions and improved interoperability across blockchain networks. While met with mixed reactions, the move is a significant step for Uniswap as it strengthens its position in the DeFi sector.   Conclusion In conclusion, the crypto market continues to navigate a landscape marked by macroeconomic factors, shifting regulatory frameworks, and evolving technological advancements. MicroStrategy’s ambitious goal to become a trillion-dollar bitcoin bank underscores the growing institutional belief in Bitcoin’s potential, while World Liberty Financial’s upcoming token sale highlights the expanding influence of high-profile figures in the DeFi space. Despite the dip in Bitcoin search volume to a yearly low, the surge in memecoin interest shows that certain sectors of the crypto market remain highly active and speculative. As China’s fiscal stimulus announcement looms, market participants will be watching closely for any impact on Bitcoin and broader market volatility. As always, investors should remain cautious in navigating both opportunities and risks in this dynamic market.

In today’s whirlwind of crypto news, the major South Korean exchange, Upbit is in the spotlight as local regulators launch a monopoly investigation, headlines today's Daily on Crypto Brew. U.S. Representative Tom Emmer is calling the recent overturn of the Chevron doctrine, which he implies won't have much impact in the crypto space unless Congress steps in. Furthermore, OpenAI has officially fired back at Elon Musk in a legal filing, accusing the tech mogul of harassment.    The crypto market showed fearful sentiments today as major coins experienced price small decreases. The Crypto Fear & Greed Index decreased from 39 to 32 today leaning more towards the ‘fear’ zone. Bitcoin (BTC) remains volatile this week and has dipped below 60,000 today.   Quick Market Updates Prices (UTC+8 8:00): BTC: $60,319, -0.53%, ETH: $2,386, +0.67% 24-hour Long/Short Ratio: 48.2%/51.8% Yesterday’s Fear and Greed Index: 32 (24 hours ago: 39), indicating fear Crypto Fear and Greed Index | Source: Alternative.me   Trending Tokens of the Day Top 24-Hour Performers   Trading Pair    24H Change UNI/USDT      +11.42% POPCAT/USDT  +10.14% WIF/USDT  +6.72%   Trade now on KuCoin   Industry Highlights for October 11, 2024 US Inflation Surges: September’s Consumer Price Index (CPI) climbed 2.4% year-over-year, outpacing market expectations, while core CPI hit 3.3%, slightly higher than the predicted 3.2%. Jobless Claims Spike: Initial jobless claims in the U.S. reached 258,000 last week, exceeding forecasts and signaling potential shifts in the labor market. Fed Officials Unfazed: Despite rising inflation, several Federal Reserve officials expressed little concern over September’s CPI data. Fed’s Raphael Bostic remains open to the idea of holding off on a rate cut in November. Bitcoin ETF Insight: Glassnode reveals that the cost basis for Bitcoin ETFs from heavyweights like BlackRock and Fidelity ranges between $54,900 and $59,100. Mt. Gox Delay: The long-awaited compensation process for Mt. Gox creditors have been extended by another year, with a new deadline set for October 31, 2025. Puffer Finance Airdrop: Ethereum’s re-staking protocol, Puffer Finance, will release its airdrop, available for claiming on October 14. Fidelity’s Next Move: Fidelity is gearing up to launch a blockchain money market fund, further expanding its presence in the crypto financial space. Crypto heat map | Source: Coin360    Upbit Under Fire for Monopoly Concerns   South Korea’s Financial Services Commission (FSC) is investigating the country’s largest crypto exchange, Upbit, for potential monopoly practices. During a parliamentary audit, lawmaker Lee Kang-il raised concerns about Upbit’s relationship with online bank K-Bank, pointing out the significant portion of K-Bank's deposits tied to Upbit. This connection, he warned, could pose a bank run risk. FSC Chairman Kim Byung-hwan confirmed the commission's awareness of the issue, stating they would assess Upbit’s dominance under the new Electronic Financial Transaction Act, implemented in mid-September.   Memecoins Surge on Ethereum, Solana, and SUI Amid a Growing Supercycle Narrative Memecoins are experiencing a surge of momentum across multiple blockchains, hinting at the possibility of a memecoin supercycle—a phase marked by explosive price increases driven by speculative trading, social media hype, and community-driven support. One notable example is the Solana-based memecoin MARU, which saw a 120% increase in 24 hours, pushing its value to $0.002663. MARU, inspired by the viral MARU CAT, a Guinness World Record-holding feline, has also gained attention for its charitable donations to the Variety Autism Children’s Project, drawing recognition from Own The Doge, the originator of Dogecoin.   Beyond Solana, memecoins on Ethereum and Sui are also gaining traction. On Ethereum, MOODENG, a memecoin inspired by a viral baby pygmy hippo, surged 480% following a charitable sale of tokens by Ethereum co-founder Vitalik Buterin. The sale raised $181,000 for anti-airborne disease research, showcasing how celebrity involvement can rapidly influence the memecoin market. Sui has also seen significant activity, with its own meme tokens like Sudeng rising to a $150 million market cap, contributing to the growing belief in a potential memecoin supercycle.   Read more: Top Sui Memecoins to Watch in 2024-25   The Memecoin Supercycle: FOMO, Hype, and Community Engagement The growing influence of social media, speculative trading, and retail participation are key factors driving this potential memecoin supercycle. Memecoins like MARU thrive in this environment as communities rally around internet jokes and cultural icons. This has led to a surge in interest and trading activity across blockchains like Ethereum, Solana, and SUI, where meme tokens are gaining prominence. Social media platforms such as X (formerly Twitter) and Reddit play a pivotal role in spreading awareness, creating viral moments, and encouraging retail traders to jump in on the action.   The rise of MARU is emblematic of how new memecoins can capture the market’s attention through a blend of virality and community engagement, a pattern seen in other tokens like Dogecoin and Shiba Inu during previous memecoin cycles. This dynamic, coupled with speculative trading strategies, helps fuel the rapid appreciation of these tokens, resulting in massive gains for early investors. However, it also brings with it the risks of volatility and short-term sustainability, as market sentiment can shift quickly.   Celebrity Endorsements and Charitable Contributions: Fuel for the Fire Another key factor contributing to the recent success of memecoins like MARU is the involvement of high-profile figures and charitable efforts. MARU has gained additional visibility through its partnerships and donations, similar to how Dogecoin benefited from Elon Musk’s tweets. These efforts create a narrative that draws in both crypto enthusiasts and casual investors alike, further driving speculative interest and price momentum.   As the concept of a memecoin supercycle continues to develop, traders are keeping a close eye on these emerging projects across blockchains, ready to capitalize on the next wave of viral growth. However, while the potential for short-term gains is enticing, the inherent risks and volatility in the memecoin market remain a crucial consideration for both new and experienced investors alike.   Bitcoin’s Price Slump and Exchange Inflows   In the past 72 hours, over 63,000 BTC—valued at nearly $1.83 billion—was sent to crypto exchanges, raising eyebrows across the market. Although high exchange inflows don’t always mean immediate selling pressure, the sheer volume suggests investors could be preparing to liquidate. As Bitcoin struggled this week, falling from $64,000 to $62,000 and breaking below its 200-day exponential moving average, analysts are split on where the price will head next. Some believe Bitcoin could drop below $50,000 before rebounding, while others think a rally above $60,000 is essential to reignite investor interest.   Current BTC price action. Source: TradingView    The Bitcoin price slump this week has been driven by a combination of macroeconomic factors and internal market movements. After starting the week at over $64,000, Bitcoin experienced a steady decline, falling to around $62,000 by October 7. The downward trend continued, and by October 10, it had slipped below its 200-day exponential moving average (EMA), which is a key technical indicator used to gauge market momentum and trend direction. Breaking below this level is often seen as a bearish signal, indicating that selling pressure could intensify.   Factors Contributing to BTC Price Slump Bitcoin's price is often influenced by global economic conditions, and this week was no exception. Investors were digesting higher-than-expected inflation data in the U.S., which showed that inflation remains stubbornly high, adding uncertainty about the Federal Reserve’s future monetary policy. Rising inflation typically leads to concerns about potential interest rate hikes, which can reduce liquidity in riskier assets like Bitcoin.   In the United States, jobless claims increased, adding to fears that the economy was indeed slowing, a factor contributing to negative action in the cryptocurrency market. While some look to Bitcoin as an inflation hedge, economic uncertainty makes investors flee to the safety of less volatile assets, at least for the short term.   CryptoQuant's Bitcoin Exchange Inflows Data showed that upwards of 63,000 BTC were sent to crypto exchanges between October 7 and October 9, worth about $1.83 billion. This may be an early warning sign of potential sell-offs as investors always move their holdings from cold storage to exchanges if they decide to sell. The significant increase in inflows brings concerns that further selling pressure might still be upcoming, as there would be additional downward pressure on the price of Bitcoin.   Bitcoin has been caught within a sideways trading range for several months, denying the cryptocurrency an upward trajectory back toward its all-time high of roughly $74,000 reached in March 2024. The more prices do not rise, the less confident some investors will become that a rally could take place anytime soon, which could lead to further sell-offs in the market. Besides, falling below the 200-day EMA will make many traders and institutions turn bearish, which may even further dampen market sentiment.   The possible sale of over 69,000 BTC by the U.S. government-seized in the aftermath of the Silk Road raid-has also added to the bearish ambiance. In such a case, investors are afraid that it would lead to a highly supply-heavy market of Bitcoin, which would push down the price further. While the Bitcoin has not moved, the looming uncertainty continues to affect market sentiment.   Bitcoin exchange inflow. Source: CryptoQuant   In summary, the Bitcoin price slump is being driven by a combination of external economic factors, technical market signals, and concerns over potential large-scale sell-offs. While some analysts believe that Bitcoin could experience further declines before finding a new support level, others are waiting for the price to break above key resistance points to reignite bullish momentum.   Silk Road’s Bitcoin Casts Shadows on the Crypto Market Adding to market jitters, the U.S. Supreme Court has cleared the way for the federal government to sell over 69,000 Bitcoin—seized in the Silk Road raid—after declining to hear a lawsuit that sought to block the sale. This potential influx of BTC into the market has investors on edge, fearing further downward price pressure as the crypto community waits for the government's next move.   The confiscated Silk Road holdings. Source: Arkham Intelligence.   Conclusion In summary, today’s crypto landscape is shaped by major developments that extend beyond market prices. South Korea's Upbit faces regulatory scrutiny over potential monopolistic practices, raising questions about the power dynamics within the country’s crypto exchange scene. Meanwhile, U.S. Representative Tom Emmer downplays the potential impact of the overturned Chevron doctrine on the crypto industry, emphasizing that real change will only come through legislative action. Lastly, the escalating legal battle between Elon Musk and OpenAI adds another layer of intrigue, with accusations of harassment and business ethics at the forefront. These unfolding events underscore the crypto industry’s evolving relationship with global regulatory frameworks, institutional power, and the broader tech space, where legal and economic challenges continue to shape its future trajectory.    Read more: Only 12.7% of Crypto Wallets on Polymarket Make Profits, Satoshi Still a Mystery, BTC Dips, and More: Oct 10

In today’s crypto news, OpenAI accuses tech mogul Elon Musk of harassment in a heated legal battle, new data reveals that only 12.7% of Polymarket users have made a profit on bets, and HBO’s controversial Bitcoin documentary claims that Peter Todd is the elusive Satoshi Nakamoto. Furthermore, Bitcoin slips below $61K despite Fed’s dovish outlook.   The crypto market showed neutral sentiments today as major coins experienced price small decreases. The Crypto Fear & Greed Index decreased from 49 to 39  today leaning more towards the ‘fear’ zone. Bitcoin (BTC) remains volatile this week and has dipped below 60,000 today.   Quick Market Updates Prices (UTC+8 8:00): BTC: $60,638, -2.45%, ETH: $2,370, -2.89% 24-Hour Long/Short Ratio: 48.2%/51.8% Fear and Greed Index: 39 (Fear, down from 49)   Crypto Fear and Greed Index | Source: Alternative.me   Federal Reserve Minutes: A Divided Stance on Rate Cuts The recently published Federal Reserve September minutes have exposed a divide among members regarding the anticipated rate cuts, leaving hopes for a 50 basis point reduction unfulfilled. With employment figures remaining robust, the likelihood of rates being maintained in November has surged, especially as inflation data continues to play a more critical role in shaping the Fed's decisions. Rising inflation might slow the pace of rate cuts, as the market awaits the release of today’s US CPI report. Meanwhile, the dollar continues to strengthen, marking its eighth consecutive day of gains, with the Dow and S&P hitting new record highs. In contrast, the crypto market faced an independent correction—Bitcoin dropped 2.45%, while the ETH/BTC exchange rate saw a slight uptick.    Trending Tokens of the Day Top 24-Hour Performers   Trading Pair    24H Change ⬆️ SUIA/USDT  - 4.25% ⬆️ AIC/USDT      +11.41% ⬆️ NEIRO/USDT    +7.00%   Trade now on KuCoin   Industry Highlights for October 10, 2024 Federal Reserve Minutes: While a majority backed a 50 basis point rate cut, this wasn’t viewed as a sign of economic concern or a signal for rapid cuts. SEC Chairman's View on Cryptocurrencies: The SEC Chair expressed doubts that cryptocurrencies will ever reach mainstream currency status. Nigeria’s Financial Boost: The Nigerian government injected $543.5 million into the economy to support the Naira. Brazil’s Stablecoin Release: Bitso, Mercado Bitcoin, and Foxbit have collaborated to launch a stablecoin pegged to the Brazilian Real, known as brl1. Puffer Finance’s Upcoming Tokenomics: The platform is set to release its tokenomics framework in the coming days. Vitalik Buterin: Ethereum’s co-founder has been nominated for the Nobel Prize in Economics, recognized by leading economists for his contributions. Ethereum Foundation Moves: The foundation recently sold another 100 ETH, signaling ongoing shifts within the Ethereum ecosystem. Crypto heat map | Source: Coin360   Elon Musk Accused of Harassment by OpenAI OpenAI, the artificial intelligence powerhouse, has fired back at billionaire Elon Musk, accusing him of harassment in an Oct. 8 court filing. The filing, a motion to dismiss Musk’s lawsuit, claims that Musk is using legal action to intimidate the AI firm after his earlier failed attempts to assert control over the company.   Source: X | Gary Marcus   Musk originally filed the suit in February, questioning OpenAI’s transition from a nonprofit to a profit-driven model, raising concerns about the ethics behind its sudden pivot. Then in August, Musk filed another lawsuit, accusing OpenAI and its CEO, Sam Altman, of manipulating him through his concerns about AI’s potential existential risks.   OpenAI’s response emphasized that while Musk once supported the company, he abandoned the venture when his ambitions to lead it were thwarted.   Only 12.7% of Polymarket Users See Profits New data from Layerhub sheds light on the harsh realities of  Polymarket, a decentralized prediction market where users place crypto bets on real-world events. Shockingly, just 12.7% of the platform's users have turned a profit. Out of 171,113 crypto wallets analyzed, 149,383 failed to generate returns, leaving only 21,730 wallets in the black.   Polymarket wallets by confirmed realized profits. Source: Layerhub    Even among the profitable accounts, earnings are modest—fewer than 2,200 wallets earned over $1,000, while the bulk made less than $100. This data underscores the volatile and unpredictable nature of betting markets in the crypto space, where traders often juggle multiple wallets and take on high-risk bets.   Read more: Polymarket Hits Record $533M in Volume Amid U.S. Election Hype and Potential Token Launch   HBO Documentary Points to Peter Todd Being Bitcoin’s Creator In a bombshell revelation, HBO’s documentary Money Electric: The Bitcoin Mystery points the finger at Peter Todd, a respected Bitcoin core developer, as the mysterious Satoshi Nakamoto, the creator of Bitcoin. The film confronts Todd with what it claims is compelling evidence, including a confrontational moment where Todd sarcastically admits, “Well yeah, I’m Satoshi Nakamoto,” a phrase he often uses to defend the real creator’s anonymity.   However, Todd quickly denied the accusations on social media, responding to the film’s release with a blunt “I am not Satoshi.” Despite this, HBO’s documentary continues to stir controversy by suggesting Todd's involvement, citing an old chat log in which he joked about sacrificing his Bitcoin holdings, a move the film interprets as Todd cutting off access to Nakamoto’s alleged $69.4 billion fortune.   Source: X | Peter Todd   Whether HBO’s claims hold water or not, this documentary has reignited one of crypto’s most enduring mysteries—who is the real Satoshi Nakamoto?   Bitcoin Slips Below $61K Despite Fed’s Dovish Outlook   The FOMC minutes released on Oct. 9 confirmed a 50 basis point rate cut for this year, but Bitcoin failed to follow equities' rally, remaining in the red. Bitcoin (BTC) extended its losses, slipping below the $61,000 mark despite the Federal Reserve’s dovish tone reflected in the Federal Open Market Committee’s (FOMC) minutes released on October 9. At the time of writing, Bitcoin was trading at $60,935, marking a 2% decline over the last 24 hours.   Minutes from the FOMC showed a "substantial majority" of the committee members supported a 50 basis point cut to U.S. interest rates by year's end, which could bring rates to a target range of 4.75%-5.0%. While the minority preferred a more conservative 25 basis point cut, believing that such a rate cut of a larger size would appear premature, the majority thought that a 50-point cut would better reflect recent economic indicators, including inflation trends and the labor market's resiliency.   Supporters of the larger cut emphasized its potential to maintain the strength of both the economy and the job market, while continuing progress toward the Fed’s 2% inflation target.   Major altcoins followed Bitcoin’s downward trend, with Ethereum (ETH) down 1%, Solana (SOL) shedding 2.5%, and Binance Coin (BNB) dropping by 2.3%. Despite the broader crypto market’s subdued performance, futures open interest surged notably in the wake of the FOMC meeting, hinting at heightened anticipation among traders.   BTC/USDT price chart | Source: KuCoin   In contrast, U.S. equities responded positively to the minutes. The S&P 500 rose 0.68%, nearing an all-time high, while the Nasdaq climbed 0.5%, reaching levels not seen since its September slump. Andrew Kang, co-founder of Mechanism Capital, noted that this divergence between equities and crypto reactions to the rate cuts is typical. Equities are more directly impacted by interest rate policies due to their connection to cash flow valuations and corporate debt financing, leading to a surge in stock prices post-announcement. Meanwhile, the crypto market remained sluggish.   Traders in the crypto space appeared cautious, likely awaiting further U.S. economic data expected on October 10 before making any bold moves. The upcoming data could provide clearer signals for the next phase of market action.   Read more: BTC Remains Neutral Amid Market Volatility, Satoshi’s Identity, and More: Oct 9   Conclusion A maelstrom of high drama, from the world of legal wrangling to cryptic data in markets and bold accusations, courses through the crypto world-just about as dynamic and unpredictable as it has ever been. OpenAI's fight with Elon Musk illustrates the tension about the role of AI in tech ramping up, while profit data by Polymarket lays bare a risky game of bets on real-world events. Meanwhile, it gets even weirder with an HBO documentary naming Peter Todd as Satoshi Nakamoto, the controversial creator of Bitcoin. Meanwhile, each of these stories continues to unfold, and the singular thread that actually binds them together is one continuous promise of innovation, matched only by a mirror-image amount of controversy born from technology, finance, and a very human ambition. Keep up with daily KuCoin News for the latest crypto trends!                                                      

BTC has neutral sentiments, and bullish investors should be cautious. Speculation over Bitcoin creator Satoshi Nakamoto intensifies ahead of HBO's new documentary. Meanwhile, Cardi B's WAP token is linked to a crypto scam, the Supreme Court clears the sale of Silk Road Bitcoin, and FTX moves forward with its bankruptcy plan.   The crypto market showed neutral sentiments today as major coins experienced price small decreases. The Crypto Fear & Greed Index stayed at 49 today, still lingering in the 'Neutral' zone. Bitcoin (BTC) remains volatile this week, but showing clear signs of rally potential.   Quick Market Updates ​​Prices (UTC+8 8:00): BTC: $62,163, -0.10%, ETH: $2,440, +0.74% 24-Hour Long/Short Ratio: 49.5%/50.5% Fear and Greed Index: 49 (Neutral, unchanged from 24 hours ago)   Crypto Fear and Greed Index | Source: Alternative.me   Federal Reserve officials have been quite busy in recent times with their number of speeches that show indications of future monetary policy shifts. John Williams, one of the influential FED officials, showed confidence in the US economy and thought it is "prepared for a soft landing." He supports the 25-bps rate cut for November, which is a cautious approach towards economic stability.   Market participants continue to look forward to further details from the coming Fed minutes happening tomorrow. Further, added to this will be the US Consumer Price Index inflation data scheduled for Thursday, which becomes important to interpret the trend of inflation and consequent decisions on rates.   US stocks trended higher in financial markets, and with the comments of the Fed officials, it would seem that their comments were well-received by the markets. The ETH/BTC exchange rate climbed to 0.0395, increasing by about 1% in the past 24 hours and indicating a subtle shift in market dynamics between the two leading cryptocurrencies.   Trending Tokens of the Day Top 24-Hour Performers     Trading Pair    24H Change ⬆️ NEIRO/USDT  +11.68% ⬆️ EIGEN/USDT      +10.53% ⬆️ APTOS/USDT        +6.82%   Trade now on KuCoin   Industry Highlights for October 9, 2024 The HBO documentary “Money Electric: The Bitcoin Mystery” will reveal the identity of Bitcoin’s founder, Satoshi. Google and Twitter trends show a surge in interest in Satoshi Nakamoto. The ban on social media platform X has been lifted, and the Brazilian market for X may restart.  Crypto heat map | Source: Coin360   Debate Over Bitcoin Creator Satoshi Nakamoto Heats Up as HBO Documentary Nears Release Speculation surrounding the identity of Satoshi Nakamoto, Bitcoin's enigmatic creator, is intensifying as HBO prepares to release its documentary Money Electric: The Bitcoin Mystery. Researchers from 10x Research revisited two main theories: one that points to cryptographer Nick Szabo, and another suggesting the involvement of the US National Security Agency (NSA). Szabo's proposed "Bit Gold" in the 1990s closely resembles Bitcoin, making him a prime candidate, while the NSA's expertise in cryptographic technology raises questions about its possible role in Bitcoin's inception.   As the Oct. 8 broadcast date approaches, Polymarket odds shifted, suggesting that Bitcoin pioneer Adam Back might be the focus of HBO's documentary. Whether Szabo, Back, or the NSA is unveiled, the speculation has reinvigorated debate within the crypto community.   Cardi B’s WAP Token Promotion Traced to Crypto Scam On Oct. 8, Cardi B’s official X account shared a promotional post for a cat-themed memecoin called WAP (an acronym for her hit song Wet Ass Pussy). Along with the post, Cardi B shared a wallet address. Blockchain investigators quickly flagged the address, revealing its ties to several fraudulent crypto projects, including rug pulls.   Source: X | Cardi B   According to BubbleMaps, 60% of the WAP token supply was bundled at launch, with $500,000 worth of tokens dumped within hours. Pseudonymous sleuth Wazz and crypto investigation firm PeckShield believe Cardi B’s X account may have been hacked and used by scammers to promote the token. The situation highlights ongoing risks in celebrity-endorsed crypto projects, where scammers leverage star power to attract unwitting investors.   Supreme Court Clears Path for Government to Sell $4.4 Billion in Silk Road Bitcoin The US Supreme Court has declined to hear a case over 69,370 Bitcoin seized from the infamous Silk Road marketplace. The Bitcoin, valued at $4.38 billion, had been claimed by Battle Born Investments, which argued it purchased rights to the crypto through a bankruptcy claim. However, both lower courts ruled against Battle Born, and the Supreme Court’s refusal to hear the case clears the way for the US government to sell the Bitcoin.    With the legal battle over, the government is expected to liquidate the remaining Silk Road-linked Bitcoin, following an earlier sale of $2 billion worth of assets in July.   FTX Bankruptcy Plan Approved, Paving the Way for Creditor Repayments FTX has reached a milestone in its bankruptcy process. On Oct. 7, US Bankruptcy Judge John Dorsey approved the crypto exchange’s liquidation plan, allowing FTX to repay its users and creditors. The plan covers 98% of FTX users, with repayment potentially exceeding the total value of claims for non-governmental creditors.   The approval comes nearly two years after FTX’s collapse, often dubbed the "Lehman moment" for the crypto industry. With this plan, FTX can distribute more than $16 billion to its creditors, bringing closure to one of the largest financial collapses in crypto history.   Bitcoin Price Analysis: Crypto Fear and Greed Index Holds Neutral Amid Market Volatility The Crypto Fear and Greed Index, a barometer for investor sentiment, currently shows a neutral outlook, reflecting uncertainty in the market. Recent fluctuations in Bitcoin’s price have caused concern among investors, but historical data suggests a potential bullish breakout if the price moves beyond key resistance levels. Market watchers are eyeing the $58k to $60k price range for buying opportunities, while a rise beyond $66k could ignite a stronger rally.   The Bitcoin market is at a pivotal point since the Crypto Fear and Greed Index, which measures market sentiment, remains neutral which reflects indecision amongst investors. This balance suggests that traders are waiting for a clear directional signal before making significant moves.   The key support level for Bitcoin currently sits between $58,000 and $60,000. Trading below this level, if the price holds within the above-mentioned range, will indicate stability and can create a good buying opportunity toward lower level entry. On the downside, a downward trend could bring further decline with the next important support being close to $55,000. To the upside, the vital resistance level falls between $66,500 and $67,000. Bitcoin has already tested this resistance level but was rejected previously. A decisive break above this range may generate formidable buying momentum, which could propel the price toward $70,000.   Several indicators give an insight into the present condition of Bitcoin. The RSI is at 52, and conditions are neutral. What that means is that the market isn't overbought or oversold, and no trend has shown its way. If the RSI should happen to rise above 70, this would mean that Bitcoin is in overbought territory, which might result in a price correction.   Source: BTC/USDT on TradingView   On September 18, the midpoint of the descending channel was broken. A rally approached the channel's highs but faced rejection. Since then, the $64,000 zone has turned into a resistance level. The Chaikin Money Flow (CMF) is -0.09, indicating capital outflow from the market. This could be seen as an ominous suggestion that confidence among investors is falling, with increased selling pressure. On-Balance Volume (OBV) showed consistent selling during the past two weeks; in the last few days, however, there has been some slight recovery, so maybe some buying interest is re-returning. However, in their entirety, these indications still point toward caution for investors to stay vigilant.   On the other hand, if the bullish case were to happen, a Bitcoin breakout above $67,000 might trigger a rally that traders can look forward to. This happens because when such a breakout happens, there's normally an increase in buying volume that shoots the price upwards. This would turn into a decline that can drive the price of Bitcoin down to around $55,000 or even lower. While the current indications of the CMF and OBV show weakness, traders should be aware that at any time soon, downward pressure may be applied.   Another measure is the Tether Dominance Index (USDT.D), indicative of money flowing into stablecoins. This normally moves upwards during a bear market, where investors are flowing into stablecoins to reduce risk. The uptrend at present would show that caution is dominating, and until this is broken in the uptrend, traders might need to set more conservative bullish targets.   Read more: Crypto Daily Movers October 7: Bitcoin Breaks $63,000, Technical Analysis of APT, WIF, and FTM   Conclusion With the Satoshi Nakamoto HBO documentary about to drop, there's more speculation from Nick Szabo to the NSA about who he really is. In contrast, Cardi B with her WAP token shows the fallacies of celebrity endorsements in the use case, while it also serves as yet another reminder for investors to do their due diligence. From the Supreme Court's ruling on the Silk Road Bitcoin to the approved bankruptcy plan for FTX, legal sea changes keep coming in waves. While the crypto market will have to sail through such complications, the investor should be quite aware and prepared to understand how the combined influence of celebrities, the regulatory change in laws, and market dynamics shapes this ever-changing layout. Keep up with daily KuCoin News for the latest crypto trends!

Bitcoin's rise above $63,000 signals potential rallies in altcoins like APT, WIF, and FTM. With decreasing exchange-held Bitcoin and the Fed's potential rate cut, the crypto market could see further bullish movement. Explore the key technical patterns driving these markets.   The crypto market showed improving sentiments today as major coins experienced price increases. The Crypto Fear & Greed Index decreased from 61 last week to 50 today, signaling a slight improvement but still lingering in the 'Neutral' zone. Bitcoin (BTC) remains volatile this week, but showing clear signs of rally potential.   Crypto fear and greed index | Source: Alternative.me    Trending Tokens of the Day Top 24-Hour Performers   Trading Pair    24H Change ⬆️ CLH/USDT      +43.45% ⬆️ STORE/USDT        +42.02% ⬆️ ZELIX/USDT     +31.43%   Trade now on KuCoin   Last Friday's U.S. non-farm payrolls report for September showed the strongest job growth in six months, with the unemployment rate unexpectedly declining. This shifted market expectations away from a significant interest rate cut in November. U.S. stocks closed higher on Friday, and Asia-Pacific markets opened positively. Bitcoin surpassed $63,000, while the ETH/BTC exchange rate held steady around 0.039, reflecting optimism for a soft economic landing.   Currently, market narratives are centered on AI, meme coins, and popular public blockchains. Among these, the public chain SUI (+9%), AI-related TAO (+16%), and meme coin NEIRO (+47%) are attracting the most attention. Notably, Sui's on-chain activity reached its second-highest level in history this week. There's also a growing trend of on-chain meme coins, with the hippo-themed HIPPO leading the pack.    This market overview highlights the interconnected nature of traditional finance, cryptocurrency markets, and emerging blockchain trends, showcasing how economic data can influence various sectors of the digital asset space.   Read more: Sui Price Prediction: Can SUI Touch New ATH as TVL Crosses $1 Billion?    Quick Market Updates 1. Price (UTC+8 8:00) BTC:$63,464，+2.41%； ETH:$2,488，+2.95% 2. 24 hours long/short: 52.2%/47.8% 3. Yesterday's Fear & Greed Index: 50 (50 24 hours ago), with a neutral rating Industry Highlights for October 7, 2024 Trump's probability of being elected president rises to 50.8% on Polymarket, Harris drops to 48.4% Vitalik Buterin donated 100 ETH to Roman Storm Legal Defense Fund Tether launches a 10th anniversary documentary about USDT and its impact on the fight against inflation Fractal Bitcoin released its Q4 roadmap to launch a trustless CAT20 marketplace and activate Runes Crypto companies raised $823 million in September 2024 Bitcoin Price Analysis: Rally Toward $66,500? Bitcoin has recently reclaimed the $62,000 price level, showing signs of a continued uptrend. After testing the 50-day Simple Moving Average at $60,589 on October 4, Bitcoin rebounded sharply, indicating that buyers are actively defending key support zones.   If the bullish momentum persists and the price remains above the 20-day Exponential Moving Average, Bitcoin could potentially rise toward the next resistance at $66,500. This level could attract selling pressure; however, a sustained breakout above $66,500 would open the path to a rally toward the $70,000 psychological barrier.   Crypto market data daily view October 6, 2024 Source: Coin360 On the downside, if Bitcoin fails to hold above the 50-day SMA, the price could decline to the $57,500 support level, with the next major support at $54,000. In the 4-hour chart, the price remains above the 20-EMA, suggesting a shift in momentum to the bulls. A close above the 50-SMA would likely increase the probability of a rally toward $65,000.   Failure to hold above the 20-EMA could indicate a short-term reversal, potentially bringing the price back down to $60,000. A break of this level would suggest deeper correction toward $57,500 or even $54,000.   Read more: Bitcoin Market Holds Strong Amid $60K Threat: Traders Remain Optimistic   BTC/USDT daily chart. Source: TradingView   Read More: Bitcoin Could Rally to $90,000 If Trump Wins the US Election: Bernstein   Aptos (APT) Price Analysis: Inverted Head-and-Shoulders Breakout Aptos recently broke out from an inverted head-and-shoulders pattern on September 21. The breakout was confirmed on October 2 when Aptos successfully retested the $7.65 level. The 20-day EMA has turned upwards, and the Relative Strength Index is in positive territory, indicating bullish control.   Aptos is currently poised to reach the pattern's technical target of $11. However, the continuation of this bullish trend depends on the price remaining above the 20-EMA on the 4-hour chart. If it breaks above $9.32, it would confirm the uptrend and signal further gains.   On the downside, a break below the $7.65 support level would invalidate the breakout and signal a potential decline toward $5.66. The bulls need to hold the 20-EMA to prevent profit-taking by early buyers. A failure to do so could lead to a decline to the 50-SMA.   APT/USDT daily chart. Source: TradingView   Dogwifhat (WIF) Price Analysis: Bullish Ascending Triangle Pattern Dogwifhat has been trading within an ascending triangle pattern, signaling a potential bullish continuation. The price has remained above the 20-day EMA at $2.09, with both moving averages sloping upward. The RSI is in positive territory, suggesting that bulls currently have the upper hand.   A decisive breakout above the downtrend line could lead to a rally toward the $2.64 to $2.89 resistance zone. If bulls push through this zone, Dogwifhat could target the next major resistance level at $3.50.   On the other hand, a break below the 20-day EMA would indicate a weakening bullish sentiment and potentially pull the price down to the 50-day SMA at $1.77. On the 4-hour chart, it is currently holding at the breakout level of $2. The ascending triangle pattern has a target objective of $2.93, with a rally to $2.60 being immediate.   If it breaks below $2, it could invalidate this bullish pattern and lead to a drop to its uptrend line.   WIF/USDT daily chart. Source: TradingView   Fantom (FTM) Price Analysis: Inverse Head-and-Shoulders in Play Fantom completed an inverse head-and-shoulders pattern on September 17 by breaking above the $0.55 resistance level. Typically after such a breakout, prices retest this level; Fantom is currently holding support at the 20-day EMA at $0.62.   If it can rebound and break through resistance at $0.70, Fantom could rally toward its technical target of $0.83 with further potential to reach $0.93 if momentum sustains.   However, if Fantom breaks below $0.55, it would invalidate this bullish breakout and signal a potential trend reversal. Bulls need to defend around $0.58 to form a local bottom; breaking above the 50-SMA would confirm buying interest and set up for a rally to $0.76 with a next target at $0.83.   In contrast, failing to maintain these support levels would signal renewed bearish pressure and potentially drive prices down to or below $0.55.   FTM/USDT daily chart. Source: TradingView   Market Outlook: Key Catalysts for Bitcoin and Altcoins Bitcoin's rise above $62,000 is occurring against macroeconomic factors that are favorable for risk assets. The expected rate cut by central banks is boosting risk-on sentiment in financial markets while decreasing amounts of Bitcoin held on centralized exchanges indicate a supply squeeze that could further fuel its price action.   For altcoins like Aptos, Dogwifhat, and Fantom, bullish technical patterns suggest potential rallies in the near term; however much will depend on broader market sentiment and Bitcoin's ability to maintain its current upward trajectory.   Investors should closely watch support levels and moving averages to assess potential reversals or continuations in this uptrend as volatility remains high in crypto markets but technical indicators currently favor bullish action.   Key factors Driving Bitcoin's Current Rally Monetary Policy Expectations: There is growing sentiment that central banks, particularly the Federal Reserve, may be done with interest rate hikes and could potentially cut rates soon. This expectation of looser monetary policy tends to boost riskier assets like Bitcoin. AI-Driven Demand: Some analysts predict that Bitcoin miners accommodating data demands for artificial intelligence could help support Bitcoin's price by providing an alternative revenue stream. Geopolitical Factors: The increasing likelihood of a second Trump presidency is seen as potentially bullish for Bitcoin, given a more crypto-friendly stance compared to previous terms. Technical Factors: Bitcoin has broken through key resistance levels, which often triggers further buying momentum. Seasonal Trends: Historically, October and November have been strong months for Bitcoin performance, which may be influencing investor sentiment. Read more: Crypto Inflows Surge: $1.2 Billion in a Week Amid Rate Cut Hopes   Conclusion In conclusion, the cryptocurrency market is showing signs of bullish momentum as Bitcoin breaks the $62,000 level. This surge is driven by several factors, including favorable macroeconomic conditions, anticipated regulatory approvals, and technical breakouts in various altcoins. The potential for further Federal Reserve rate cuts and decreasing Bitcoin holdings on centralized exchanges are contributing to a positive market outlook.   As the crypto market continues to experience volatility, it's crucial for traders to stay informed and utilize advanced trading tools and strategies. Whether you're a seasoned trader or just starting out, understanding different order types and market dynamics can greatly enhance your trading experience. Read more on KuCoin or trade on KuCoin now to explore the exciting world of cryptocurrency trading and stay ahead in this dynamic market. Stay tuned to KuCoin News for more crypto market updates and insights. Read More: Crypto Daily Movers, October 4: Mixed Sentiments as Market Awaits US Payroll Data

The crypto market showed mixed sentiments today as major coins experienced price fluctuations. The Crypto Fear & Greed Index rose from 37 to 41, signaling a slight improvement but still lingering in the 'Fear' zone. Bitcoin (BTC) remained volatile this week, influenced by increasing tensions in the Middle East and investors' growing focus on traditional safe-haven assets like gold.   Crypto heat map, October 4 | Source: Coin360   Additionally, market participants are closely watching the upcoming US Non-Farm Payroll (NFP) data due on Friday. Recent US economic indicators, such as the ISM Services Index reaching an 18-month high, caused a brief rebound in the S&P and Nasdaq before closing lower due to concerns over potential Israeli attacks on Iran's oil industry. Amidst this uncertainty, BTC has managed a slight uptick, while the ETH/BTC ratio continues to decline.   Trending Tokens of the Day Top 24-Hour Performers     Trading Pair    24H Change ⬆️ ANALOS/USDT +50.38% ⬆️ SAROS/USDT +23.78% ⬆️ BIIS/USDT  +21.21%   Trade now on KuCoin   Quick Market Updates Prices (UTC+8 8:00): BTC: $61,292 (+0.96%); ETH: $2,375 (+0.95%) 24-Hour Long/Short Ratio: 49.5%/50.5% Fear and Greed Index: 41 (Up from 37, still in 'Fear' territory) Industry Highlights for October 4, 2024 Fed’s Rate Cut Expectations: Federal Reserve official Austan Goolsbee suggested that cutting rates by 25 or 50 basis points is less urgent than a more substantial reduction to neutral levels over the next year. Current market sentiment indicates a 62.5% probability of a 25-basis-point rate cut in November. Ethereum Developments: Co-founder Vitalik Buterin proposed increasing bandwidth requirements and lowering the minimum staking threshold to 16 or 24 ETH, reflecting the ongoing evolution of the Ethereum ecosystem. Ripple Expansion: Ripple launched its high-speed payment solution, Ripple Payments, in Brazil, extending its international reach and reinforcing its role in cross-border payments. Crypto Inflows Surge: $1.2 Billion Amid Rate Cut Hopes Last week saw significant inflows into crypto investment products, totaling $1.2 billion – the highest in 10 weeks. Bitcoin led with over $1 billion in inflows, while Ethereum broke its five-week losing streak, gaining $87 million. This surge in inflows is driven by hopes of interest rate cuts in the U.S., enhancing the market's outlook.   Read More: Crypto Inflows Surge: $1.2 Billion in a Week Amid Rate Cut Hopes   XRP Dips 9% as SEC Reignites Legal Battle XRP dropped by 9% after the SEC filed an appeal against a previous court ruling that had determined XRP was not a security when sold to retail investors. Ripple's CEO Brad Garlinghouse and CLO Stuart Alderoty expressed disappointment but hinted at a possible cross-appeal. Despite this setback, Ripple’s XRP Ledger continues to play a vital role in cross-border payments.   Bitcoin's Dominance Climbed Near a Three-Year High Bitcoin dominance spikes to 58% | Source: TradingView    While XRP faced challenges, Bitcoin saw a modest 1% increase, pushing its price close to $61,000. Meanwhile, Ethereum slipped by over 1% to around $2,350, reflecting the broader market's volatility. Bitcoin's dominance climbed near a three-year high, standing at 58%.   Read more: Bitcoin Market Holds Strong Amid $60K Threat: Traders Remain Optimistic   Notable Movers: Aptos Surges, SUI Declines APT/USDT price chart | Source: KuCoin    Aptos (APT) outperformed the market with a 7% gain following the news of Franklin Templeton expanding its tokenized money market fund to the Aptos blockchain. Conversely, SUI dropped after a month-long rally, as some traders rotated profits into Aptos.   U.S. Dollar Strengthening DXY rises above 101 | Source: TradingView   The crypto market's mixed performance coincided with the U.S. dollar surging to its highest level since mid-August due to strong economic data and ongoing geopolitical concerns in the Middle East. A spike in the Secured Overnight Financing Rate (SOFR) has also raised concerns over potential liquidity stress, drawing parallels to the repo crisis of 2019.   What to Watch Next Markets now await Friday's U.S. jobs report, which could serve as a catalyst. A mix of expected rate cuts and strong labor data may drive renewed optimism in risk assets, including cryptocurrencies.   Solana Could Challenge Ethereum’s Dominance Solana vs. Ethereum price performance | Source: TradingView    Recent trends show financial institutions considering Solana for real-world asset tokenization and stablecoins. This shift could position Solana as a serious competitor to Ethereum over the long term, especially with Visa's recent integration of USDC on the Solana network.   Read more: Solana vs. Ethereum: Which Is Better in 2024?   PayPal's First Corporate Payment via PYUSD Stablecoin PayPal completed its first business transaction using its USD-pegged stablecoin, PYUSD, with Ernst & Young through SAP’s digital currency hub. This marks a significant milestone in using stablecoins for instant corporate payments.   Read more: All You Need to Know About PayPal USD (PYUSD) - PayPal’s Stablecoin   Conclusion The crypto market continues to showcase a mix of optimism and caution, driven by global economic developments, regulatory changes, and technological advancements. Bitcoin's resilience above the $60,000 mark, Ethereum's proposed updates, and Solana's potential challenge to Ethereum highlight the dynamic nature of the market. However, factors such as geopolitical tensions, U.S. economic data, and regulatory scrutiny, particularly the ongoing legal battles like the XRP case, add layers of uncertainty.   As always, investors should stay informed and be mindful of the market's inherent risks, understanding that volatility is a constant companion in the crypto space. It's crucial to conduct thorough research and consider risk tolerance before making any investment decisions.   Stay tuned to KuCoin News for more crypto market updates and insights.

Bitcoin (BTC) continues to display strength in the market, despite facing the critical $60,000 support level. Traders are emphasizing a "bullish market structure" that remains intact even after several retests of this key psychological mark.   Quick Take Bitcoin maintains "bullish market structure" despite a $60K retest. Whale buying activity suggests confidence in a future rally. Bitcoin ETFs show signs of recovery with net inflows in late September. Analysts target $85,000–$100,000 for BTC by year-end if demand grows. Market sentiment remains cautious amid geopolitical tensions and regulatory developments. Market analyst Rekt Capital recently stated that while Bitcoin's price hovers around $60K, traders should avoid succumbing to fear. "BTC has revisited the low $60,000s countless times over the past several months," he mentioned, highlighting that each drop generates a new reason for concern. However, the overall market structure continues to lean bullish.   Mixed Sentiment as $60K Support Threatens Breakdown Bitcoin weekly price | Source: CheckOnChain    While the $60,000 mark has provided crucial support in the past, recent market movements have caused concern among investors. Bitcoin experienced a 6% dip over three days after touching a two-month high above $66,000. Despite this decline, some traders see it as a healthy correction in an ongoing bull market.   Popular trader Jelle reinforced the sentiment, suggesting that Bitcoin is executing a crucial resistance-to-support (R/S) flip. "Bitcoin's market structure is bullish again, and we're turning key S/R back into support," he noted. This viewpoint urges investors to avoid being shaken out by temporary volatility.   Read more: Crypto Inflows Surge: $1.2 Billion in a Week Amid Rate Cut Hopes   Bitcoin Whale Accumulation Hints at Future Rally Bitcoin whale behavior analysis | Source: CheckOnChain   Despite market downturns, whale activity indicates strong accumulation at the $60K range. CryptoQuant founder Ki Young-Ju highlighted that influential entities continue buying large amounts of Bitcoin. This whale activity suggests that significant investors are betting on a future bull run.   On-Chain Metrics Signal 'Buy the Dip' Moment Bitcoin short-term holder analysis | Source: CheckOnChain    Short-term holders' behavior offers insights into Bitcoin's current market position. Checkmate, the creator of Checkonchain, analyzed the Short-Term Holder Spent Output Profit Ratio (STH-SOPR). This metric measures the proportion of funds in profit when moved on-chain by speculators who hold Bitcoin for up to 155 days.   Currently, the STH-SOPR is below its center value of 1.0, which some analysts interpret as a "buy the dip" opportunity. When this metric is low, it indicates that holders are not taking profits, suggesting potential market upside.   Can Bitcoin Price Touch $100K? The broader market remains cautious due to various factors, including geopolitical tensions and regulatory uncertainty. Analysts from CryptoQuant project that Bitcoin has a fair chance to reach $85,000–$100,000 by the end of the year, provided demand grows.   However, they caution that external factors, such as the Federal Reserve's monetary policy and geopolitical developments in the Middle East, could impact market dynamics. Institutional interest, particularly from Bitcoin ETFs, could act as a catalyst. Net buying of Bitcoin ETFs surged in late September, reversing previous selling trends.   Read more: Bitcoin Rallies as Crypto Market Reacts to Fed Rate Cut Speculation and Q4 Optimism   Bearish BTC Prediction: Can Bitcoin Price Dip to $57K? Not everyone shares the same optimism. Some analysts predict a further drop if Bitcoin fails to hold the $60K level. Mark Cullen, a crypto enthusiast, recently cautioned traders to prepare for a potential dip to $57,000. He stated, "It's taking time, but Bitcoin still appears to be heading lower." This view adds to a growing chorus calling for a pullback of up to 10% or more if support gives way.   Read more: The Bitcoin Stock-to-Flow (S2F) Model: A Comprehensive Guide   Conclusion Bitcoin’s market structure remains optimistic despite the threat to the $60,000 support. Whale buying activity, bullish market indicators, and potential ETF interest suggest the cryptocurrency could still have a path to higher prices. Yet, caution prevails due to external uncertainties and mixed market signals.   Will Bitcoin hit $100K by year-end? Demand growth and global market conditions will likely be the deciding factors.

Crypto investment products saw significant inflows of $1.2 billion last week, marking the highest inflows in 10 weeks. Bitcoin led the surge with over $1 billion, while Ethereum broke its five-week losing streak. Discover the factors driving this massive growth and the impact this has on the U.S. interest rate outlook.   Quick Take  Crypto investment products led an astonishing inflow of $1.2 billion last week, which set the record for the highest weekly total since July, extending a three-week streak of positive inflows driven by U.S. interest rate cuts. Bitcoin products alone accounted for over $1 billion in inflows, reflecting strong institutional interest, especially with the approval of physically settled options tied to BlackRock’s U.S. Bitcoin ETF. After a five-week losing streak, Ethereum gained $87 million in inflows, signaling a renewed confidence in Ethereum's long-term potential. Crypto Market Update  Source: Coin360    The global crypto market cap has declined to $2.13 trillion, down by 1.37% in the past 24 hours. Trading volume also saw a decrease of 20.45%, totaling $91.53 billion. DeFi accounts for $5.36 billion of this volume, while stablecoins make up 91.45%, amounting to $83.7 billion. Bitcoin’s dominance increased slightly to 56.82%.    Trending Cryptos of the Day  Market leader Bitcoin has faced considerable volatility in the wake of rising geopolitical tensions, slipping down under $61,000 but bouncing back above this key level at the time of writing. Notwithstanding the risk-off sentiment weighing on the king crypto, other leading projects have etched out small gains and are trending the market: TRON Network posted a record high revenue of $577 million in Q3 2024, bringing reason to cheer for TRX investors, while Hamster Kombat price sees a small bounce as the sell-offs following the airdrop ease. Meanwhile, EigenLayer’s newly unlocked token following the airdrop has seen considerable selling pressure, driving double-digit losses for the EIGEN crypto.    Cryptocurrency 24-h Change Hamster Kombat (HMSTR)  +1.% Sui (SUI) +0.95% TRON (TRX) +0.08% Bitcoin (BTC)  -0.67% EigenLayer (EIGEN)  –12.06%   Crypto Inflows Soar Amid U.S. Rate Cut Expectations Last week saw a major shift in the digital asset landscape with crypto investment products raking in a staggering $1.2 billion in net inflows. This marked the largest single-week inflow since mid-July, continuing a three week streak of positive market sentiment. The surge in investment was largely attributed to growing optimism around potential interest-rate cuts in the U.S. as investors shifted their portfolios in anticipation of a more favorable economic environment.   U.S. based funds dominated the inflows, accounting for $1.17 billion of the total. The return of investor confidence is a clear indication that crypto remains resilient, despite ongoing volatility in global markets. The approval of new investment products and the anticipation of economic policy changes have bolstered market sentiment, creating an ample environment for inflows.   Crypto Assets Fund Flows (Source: CoinShares)   Bitcoin's Dominance: A Billion-Dollar Boost Bitcoin products led the way with over $1 billion in inflows, reaffirming its position as the top choice for crypto investors. The approval of physically settled options tied to BlackRock’s U.S. bitcoin ETF (IBIT), the largest spot Bitcoin fund by assets, was a key factor in driving these inflows. With regulatory approvals continuing to shape the market, Bitcoin's status as the premier digital asset has only strengthened.   Interestingly, while the approval of new options boosted market sentiment, trading volumes did not see a comparable increase, declining slightly by 3.1% week-over-week. Despite this, Bitcoin remains the go-to asset for institutions and retail investors alike, particularly in the U.S. market.   Read More: Best Spot Bitcoin ETFs to Buy in 2024   Ethereum's Resurgence: Breaking the Losing Streak Ethereum products also experienced a notable turnaround, attracting $87 million in net inflows after five consecutive weeks of losses. This marked the first measurable inflows for Ethereum since early August, signaling renewed investor confidence in Ethereum's long-term potential. The timing aligns with growing discussions around Ethereum’s scalability and the ecosystem's development, including advancements in staking and Layer 2 solutions.   Ethereum’s ability to attract capital after a difficult period is significant, suggesting that investors are regaining faith in the asset as both a store of value and a functional blockchain for decentralized applications.   Crypto Assets Weekly Flow (Source: CoinShares)   The above image shows that Bitcoin's recent surge to around $65,000 prompted an inflow of $8.8 million into short-Bitcoin products, as some investors anticipated a possible decline following the rally. Regional sentiment, however, varied significantly. The U.S. led with a substantial $1.2 billion in inflows, while Switzerland followed with $84 million. In contrast, Germany and Brazil saw outflows, with $21 million and $3 million, respectively, indicating mixed investor sentiment across global markets.   Read more: Best Ethereum ETFs to Watch in 2024   The U.S. Impact: Regulatory Approvals Drive Sentiment A major driver behind the recent inflows was the U.S. regulatory landscape. The approval of physically settled options for U.S.-based investment products, particularly tied to BlackRock's Bitcoin ETF, had a significant psychological impact on the market. While trading volumes did not spike as much as anticipated, the inflows indicate growing confidence in regulated crypto products, particularly in the U.S.   This regulatory backing is essential as it provides a sense of security for institutional investors who might have been hesitant to dive into the crypto space due to regulatory uncertainty. With clearer rules emerging and new products receiving approval, crypto is poised to capture an even larger share of the traditional investment market.   Conclusion: A Bullish Sign for Crypto Markets? It's a clear indication that investor sentiment is turning bullish. In fact, massive inflows of $1.2 billion into crypto investment products have been recorded. The crypto market seems to get back to momentum, led by Bitcoin and followed by Ethereum. Anticipation of rate cuts in the U.S. and regulatory approvals for new products in the near term will likely keep driving inflows higher.   Large-cap digital assets signaled mixed performances: Litecoin had inflows of USD 2 million, XRP had USD 0.8 million inflows, while Solana lost USD 4.8 million. This indeed shows positive investor interest in the first two assets. However, with Solana losing $4.8 million, this perhaps indicates mixed market sentiment whereby some large-cap altcoins are attracting capital while others-like Solana-are witnessing reduced investor confidence.   As always, the cryptocurrency market is very volatile, but the trend now suggests a growing confidence in digital assets as a viable avenue of investment. Again, Bitcoin and Ethereum are casting themselves as safe havens during times of uncertainty, with this perhaps just the beginning of yet another memorable rally.

Musk X Empire has gained significant traction as one of the most popular tap-to-earn games on Telegram, where users engage in virtual stock investments and challenges to earn cryptocurrency. Today's article provides you with the latest answers for the Daily Combo, Riddle, and Rebus, helping players maximize their rewards before the token launch.   Key Takeaways Stock Exchange Combo Answers (September 18): The correct picks are Blockchain Projects, Real Estate in Nigeria, Game Development. Daily Riddle Answer: "Code that runs automatically and fair, No middleman needed when I’m there." The answer is Liquidity Rebus Answer (September 18): The solution to today’s rebus is Spam. What is X Empire? X Empire is a viral Telegram-based game combining cryptocurrency mining with strategic gameplay elements. Launched in June 2024, it amassed 10 million players within the first month and has over 3.2 million members in its official Telegram community. Players tap to earn coins, upgrade their virtual character inspired by Elon Musk, and invest in a simulated stock exchange. Its partnership with Notcoin, another popular game, offers additional perks to cross-platform players, boosting its popularity. Read Also: What is Musk Empire Telegram Game and How to Play?  1. Today’s Stock Exchange Combo Answers - September 18 For today’s Daily Combo challenge in X Empire, players are tasked with selecting the top three investments from a provided list. The correct answers for September 18 are: Blockchain Projects Real Estate in Nigeria Game Development   Picking these three correctly will grant players significant in-game rewards, allowing them to advance more quickly and efficiently in their gameplay. 2. Daily Riddle of the Day - September 18 Today's riddle in X Empire challenges players with a clever question:"I provide the ease of trade and flow, Enabling assets to move to and fro, What am I?"The answer to this riddle is Liquidity. By solving riddles like this, players can earn extra rewards and enjoy an engaging experience.   3. Rebus of the Day - September 18 The Rebus puzzle for September 18 in X Empire is the word “Spam.” Successfully solving the rebus, along with other puzzles available in the "Quests" section, can earn players additional in-game bonuses, enhancing their overall gameplay experience. These daily tasks and puzzles provide a fun and rewarding way to engage with the game and earn more rewards.    Exciting News! Hamster Kombat (HMSTR) is now available for Pre-Market Trading. Place your buy or sell orders before the official spot market listing and get a head start. Trade HMSTR today before the Hamster airdrop on September 26!     What is X Empire Pre-Market? X Empire has introduced a unique pre-market trading feature ahead of its token airdrop, using custom NFT vouchers. Players can mint and trade these NFTs on the Getgems marketplace to gain early access to X Empire tokens. Unlike traditional pre-market trading on centralized exchanges, X Empire uses NFTs minted on The Open Network (TON) for a decentralized approach, allowing more flexibility and early engagement in the game’s token economy. Get Ready for the X Empire Airdrop With the X token airdrop set to occur shortly after the mining phase ends on September 30, 2024, players are preparing for significant rewards. Currently, the NFT vouchers available for pre-market trading represent only a portion of the total airdrop allocation. Players will receive the remaining tokens during the airdrop, which promises to add an exciting dynamic to X Empire's evolving ecosystem. By participating in these daily challenges and understanding the pre-market opportunities, players can maximize their earnings and prepare for the upcoming airdrop, making the most of their time in the Musk X Empire game. Read more: X Empire Daily Combo, Riddle, and Rebus of the Day for September 17, 2024  

Bitcoin (BTC) and the broader crypto market experienced a brief rally on Tuesday amid speculation that the Federal Open Market Committee (FOMC) could implement a 50-basis-point rate cut during its Wednesday meeting.   Key Takeaways: The crypto market, spearheaded by Bitcoin, has surged in recent hours as investors brace for Wednesday's FOMC meeting.  The CME FedWatch Tool now suggests a higher chance of a 50-basis-point rate cut, a move that has historically aligned with crypto bull runs.  Additionally, Bitcoin has a track record of outperforming in Q4, making this quarter especially promising for potential gains compared to others.   Source: Trading View   In the past, Bitcoin and the broader crypto market have thrived during times of low interest rates. This was especially noticeable in 2017 during the explosive crypto bull run and the ICO boom, when interest rates hovered between 0.75% and 1.25%. The red line indicates BTC’s movement and the blue line is the United States Interest Rate since 2017. Given that history, the current buzz around a potential 50-basis-point rate cut and the positive outlook for Q4 could ignite another strong rally in crypto assets. The combination of these factors suggests a potentially exciting period ahead for the market.   Bitcoin Breaks above $ 61K ahead of the Federal Reserve's Interest Rate Decision    Bitcoin recently surged by 5%, reaching $61,330 ahead of the Federal Reserve's meeting, where uncertainty remains about the rate cut's impact on the market. Other cryptocurrencies like ETH, SOL, XRP, ADA, and AVAX also saw gains between 2% and 4%. However, data from KuCoin may suggest market volatility with the interest cuts. Joel Kruger from LMAX Group emphasized that much of the market's focus is on positioning ahead of the Fed's decision.   Joel Kruger from LMAX Group highlighted that much of the market's focus is now on positioning ahead of tomorrow’s anticipated Federal Reserve event. Significant BTC sell orders between $61,000 and $62,500 may cap further rally since, "A lot of the focus will be around positioning into tomorrow’s highly anticipated Fed event risk," LMAX Group's Joel Kruger said. Bitcoin led the crypto rally, hitting its highest price in September, while ETH, SOL, XRP, ADA and AVAX advanced 2%-4%.   Bitcoin (BTC) surged to $61,000 during the US trading session on Tuesday as cryptocurrencies rallied in anticipation of the Fed's upcoming meeting where it's widely expected that the central bank will reduce its benchmark interest rate for the first time in 4 years.   Leading the digital asset market Bitcoin hit $61,330 marking its highest price in three weeks before retracing some of its gains. It’s currently hovering just below $61,000 still reflecting an impressive 5% increase over the past day. Uncertainty Looms in the Continuation of the BTC Rally   Meanwhile the CoinDesk 20 Index which tracks the broad crypto market gained 3% reaching 1,880 with most altcoin majors like Ethereum (ETH) Solana (SOL) Ripple’s XRP Cardano (ADA) and Avalanche (AVAX) showing more moderate increases of 2% to 4%.   Despite the upward surge, Bitcoin remains trading in a relatively narrow trading range and with the Federal Open Market Committee (FOMC) meeting on the horizon a breakout seems unlikely due to the fact that. Despite the rally, bitcoin continues to trade in a fairly tight range and seems unlikely to break out before Wednesday's meeting of the Fed's Federal Open Market Committee (FOMC). The market is still extremely uncertain on whether the Fed will cut 25 basis points or opt for a larger 50 basis point move. BTC Quarterly Returns | Source: Coinglass   Conclusion As Q4 approaches, crypto investors are hopeful for a rebound from the market lull seen in Q3. Historically, Q4 has been Bitcoin's strongest quarter, with an average gain of 88.84%.As a result, optimism around Q4 and the potential for a 50-basis-point rate cut could trigger a significant bull run in the crypto market.   Read More: Bitcoin Could Rally to $90,000 If Trump Wins the US Election: Bernstein

The 2024 U.S. presidential election is shaping up to be a pivotal event for the cryptocurrency market, with Bitcoin's price trajectory closely tied to the outcome. Analysts predict that a victory for Donald Trump could spark a significant rally, while a win for Vice President Kamala Harris might put downward pressure on the crypto market, creating uncertainty for digital assets like Bitcoin.   Quick Take  Bitcoin price could reach as high as $90,000 if Donald Trump wins the 2024 U.S. presidential election, according to a report on CoinDesk. A Kamala Harris victory could see Bitcoin drop to around $30,000, due to potential regulatory challenges. Polymarket polls show Trump and Harris neck and neck after their first debate, with crypto markets closely watching the outcome. According to a recent investment note from Bernstein, if Trump secures the White House, Bitcoin could surge to $90,000 by the end of the year. Trump’s pro-crypto platform, which includes promises to roll back regulatory barriers and support blockchain innovation, has attracted widespread attention from investors. Conversely, if Harris wins, Bitcoin could potentially dip to $30,000, as her stance on cryptocurrency remains unclear and may align with the more cautious approach of the current Biden administration.   Polymarket Polls Reveal Trump's Chances of Winning at 49%   Donald Trump’s chances of winning the US presidential elections | Source: Polymarket    Prediction market Polymarket, which allows users to bet on political outcomes, saw Trump’s odds of winning the election drop by 3% during the first presidential debate on September 10. This brought him neck and neck with Harris, with both candidates holding roughly a 49% chance of victory. The debate, held in Philadelphia, focused on major topics like the economy, immigration, and foreign policy, but cryptocurrency was notably absent from the discussion.   Despite the drop in Polymarket odds, analysts and industry insiders remain optimistic about Trump’s potential impact on the crypto market. His pledge to end what he calls the Biden administration’s "war on crypto" and his commitment to fostering blockchain development have bolstered hopes for a Bitcoin rally. A Trump win could provide regulatory clarity and reduce the legal pressures that have weighed on crypto firms in recent years.   Trending: Bitcoin Soars on Trump Speculation and ETF Inflows: Can It Break $71,500?   What a Harris Victory Could Mean for Bitcoin On the other hand, a Harris victory could lead to a more challenging environment for the crypto market, according to Bernstein analysts. Analysts fear that without clear support for digital assets, her administration might continue the regulatory policies of the Biden presidency, which has been criticized for its tough stance on the industry. If Harris wins, Bitcoin’s price could face downward pressure, with some experts predicting a drop to $30,000 due to increased uncertainty and potential legal hurdles.   Despite the differing predictions, it’s important to recognize that Bitcoin’s price is influenced by more than just political outcomes. Broader economic conditions, market sentiment, and global regulatory trends will also play a significant role in determining Bitcoin’s performance in the months ahead.   The Impact of Fed Rate Hikes on Bitcoin Price Likelihood of Fed rate cut in upcoming meeting | Source: CME FedWatch    The Federal Reserve's interest rate policies have become a significant driver of Bitcoin’s price movements in 2024. Market participants are closely watching the Fed's next decision, with speculation around whether the central bank will opt for a 25 basis point or a more aggressive 50 basis point cut.   A 25 basis point cut is viewed as a favorable outcome for Bitcoin, as it could ease recession fears and inject liquidity into the financial system. Historically, lower interest rates have created a more conducive environment for riskier assets like Bitcoin, as borrowing costs decrease and investors seek higher returns. Increased liquidity often flows into speculative markets, providing a potential boost for cryptocurrencies​.    However, a 50 basis point cut could trigger market volatility. Analysts, such as those at 10x Research, caution that a larger cut may signal deeper economic concerns, which could spook investors. Rather than interpreting the cut as a sign of economic recovery, markets may see it as a response to a looming recession. This could lead to investors pulling back from risk assets like Bitcoin, causing short-term price declines.    The recent price movements in Bitcoin illustrate the Fed's influence. After a sharp drop to $50,000, Bitcoin has rebounded toward $60,000, as traders await the Fed's decision. However, BlackRock analysts have warned of further volatility, as the central bank is unlikely to cut rates as quickly as some market participants hope. The uncertainty around future Fed moves, combined with broader economic conditions, will continue to weigh heavily on Bitcoin’s price trajectory in the months ahead.    See Also: Bitcoin Price Experiences Slight Dip After Fed Decisions and CPI Data   Conclusion As the 2024 U.S. presidential election approaches, the crypto market is keeping a close watch on political developments. A Trump victory could pave the way for a Bitcoin rally, pushing prices as high as $90,000, while a Harris win might signal a tougher road ahead for digital assets, with Bitcoin potentially falling to $30,000. While platforms like Polymarket provide real-time insights into the candidates' chances, investors should consider the broader landscape when making decisions, as the future of cryptocurrency will be shaped by multiple factors beyond the election alone.

On-chain data analysis by CryptoQuant reveals that Bitcoin's permanent holder addresses have seen a massive influx, accumulating nearly $23 billion worth of BTC in the past month. CryptoQuant founder and CEO Ki Young Ju highlighted this trend in a recent post, indicating significant behind-the-scenes activity.   Quick Take  Bitcoin permanent holder addresses have accumulated nearly $23 billion worth of BTC in the past month, according to CryptoQuant, a renowned on-chain analysis platform . Miner activity shows signs of stabilization with capitulation nearly over and hashrate nearing all-time highs. The Crypto Fear & Greed Index improved from extreme fear to fear, indicating a slight positive shift in market sentiment. Technical analysis identifies $50,000 and $45,000 as critical support levels, while $60,000 and $65,000 are key resistance levels. In his Aug. 7 post, CryptoQuant’s CEO Ki Young Ju pointed out that around 404,448 BTC had moved to permanent holder addresses over the past 30 days, signaling clear accumulation. He speculated that within a year, various entities, including TradFi institutions and governments, might announce their Bitcoin acquisitions, potentially sparking regret among retail investors for not buying during this period.   Ki Young Ju also noted positive signs from Bitcoin miners. "Miner capitulation is nearly over," he stated, with the hashrate nearing all-time highs. He emphasized that U.S. mining costs are around $43,000 per coin, suggesting stability in the hashrate unless prices fall below this level.   Retail investors remain mostly absent, similar to mid-2020. However, there has been a notable reduction in old whale activity, with long-term holders selling between March and June. Currently, there's no significant selling pressure from these old whales, supporting Ki's belief that the bull market remains intact. He plans to reassess if the market doesn't recover in the next two weeks.   Bitcoin Whales Accumulate Over 400K BTC in July  Bitcoin permanent holder addresses 30-day demand change. Source: CryptoQuant   In late July, Ki observed increased flows to permanent holder addresses, including Bitcoin ETFs. He noted that whales are accumulating at unprecedented levels, even amid market slumps. This trend continued as Bitcoin's price crashed to $49,800 on Aug. 5, only to recover 14% to $57,000 on Aug. 6.   Nearly $23 billion of Bitcoin has been accumulated by permanent holder addresses over the past month. A significant amount of Bitcoin, 404,448 BTC, has moved to permanent holder addresses, indicating accumulation.   The Crypto Fear & Greed Index also improved slightly, moving from extreme fear to fear, indicating a shift in market sentiment. However, a key Bitcoin volatility indicator reached its highest level in 20 months, reflecting ongoing market uncertainty.   Divergent Views Among Traders: Expect Further Downsides? Bitcoin Volmex Implied Volatility Index reached a high of 97.14 on Aug. 5. Source: Trading View   While some traders remain cautious, others see potential buying opportunities. Yoddha, a pseudonymous crypto trader, declared this period as potentially the best buying opportunity of 2024. The Bitcoin Volmex Implied Volatility Index hit 97.14 on Aug. 5, the highest since November 2022, when FTX collapsed.   Despite Bitcoin's recovery to the $56,000 level, futures traders remain cautious. Tyr Capital CIO Ed Hindi highlighted a put-to-call volume ratio signaling bearish sentiment, with a ratio of 1.13, indicating traders are hedging against further downside.   Realized Price Indicator Signals Whales Mostly in Green  Ki Young Ju's analysis of the Realized Price indicator provides further insights into Bitcoin's market status. The Realized Price metric tracks the average acquisition cost of specific investor cohorts. Currently, new whales (holding over 1,000 BTC acquired in the past 155 days) have a Realized Price of $65,000, indicating significant losses after the recent crash.   Binance Traders have a cost basis of $55,000, suggesting they are breaking even, while Miner Whales have a Realized Price of $45,000. Historically, dipping below the miners' cost basis has confirmed bear markets, but Bitcoin remains above this level, suggesting the market hasn't fully transitioned to a bear phase.   Long-Term Holder Whales, with a Realized Price of $22,000, have never seen this level breached in Bitcoin's history. This cohort's continued holding pattern reinforces the idea that significant long-term support remains.   BTC Price Analysis: Key Resistance Level at $60,000 BTC/USDT price chart | Source: KuCoin    Bitcoin's technical analysis reveals potential support and resistance levels. The recent price action saw Bitcoin dip to $49,800 on Aug. 5, which acted as a critical support level. The recovery to $57,000 indicates a strong buying interest at lower levels.   Key resistance levels to watch are $60,000 and $65,000. If Bitcoin breaks above $60,000, it could retest the $65,000 level, aligning with the Realized Price of new whales. On the downside, $50,000 remains a crucial support level, with $45,000 as the next major support, corresponding to the Realized Price of Miner Whales.   The Bitcoin Volmex Implied Volatility Index reaching 97.14 suggests heightened market uncertainty, making it essential for traders to monitor volatility indicators. The put-to-call volume ratio of 1.13 further underscores the cautious sentiment in the market.   Conclusion Bitcoin's recent accumulation by permanent holders, coupled with signs of miner stabilization and varying trader sentiment, paints a complex picture. While some analysts predict further declines, others see potential for a major rally. On-chain data and market indicators will be crucial in determining Bitcoin's trajectory in the coming months.  

The financial markets started the day under pressure following the release of stronger-than-expected economic data from the U.S. According to a report on The Block, the second quarter's GDP growth rate came in at an annualized 2.8%, well above the anticipated 2%. This was a significant jump from the 1.4% growth seen in Q1.   Quick Take Q2 GDP surged to 2.8%, surpassing the expected 2%. PCE Price Index rose to 2.9%, above the forecasted 2.7%. FedWatch Tool shows a 100% chance of a September rate cut. Big Tech stocks and cryptocurrencies experienced a sell-off. Bitcoin nears its 50-day moving average as the crypto market dips too.  PCE Price Index Surges to 2.9%, When Will Fed Cut Interest Rates?  Adding to the mix, the Personal Consumption Expenditures (PCE) Price Index, a key inflation metric, rose to 2.9%, exceeding the expected 2.7%. This data is crucial as it influences the Federal Reserve's decisions on interest rate policies. Emma Wall, head of investment analysis at Hargreaves Lansdown, noted that the robust economic growth coupled with slightly higher inflation might reduce the urgency for the Fed to cut rates in the near term.   Could the Fed cut interest rates in November? | Source: CME FedWatch    A recent Reuters poll indicated that economists do not expect the Fed to cut rates until November, maintaining the current range of 5.25-5.5%. The CME FedWatch Tool echoes this sentiment, showing a 60% chance of a November rate cut.   Markets Experience Big Sell-offs, Tech Sector as Alphabet Slides 5% Lower S&P 500, Dow Jones, and NASDAQ experience sell-offs | Source: Yahoo! Finance    As a result, major U.S. stock indices opened negatively but managed to recover slightly. The S&P, Dow, and Nasdaq all clawed back into positive territory later in the day. However, cryptocurrencies and precious metals continued to trade in the red. Bitcoin, for example, dropped to $64,723, a 2.56% decrease over 24 hours. Gold and silver also saw declines, with silver hitting its lowest price since May.   Despite the strong economic data, markets faced a broad sell-off. Investors are re-evaluating the high valuations of Big Tech stocks and the timing of returns on their AI investments. Daniel Van Der Woude, Product Lead at Nuklai, highlighted concerns over Alphabet’s mixed results, despite beating earnings estimates. The stock slid 5% due to weaker ad revenue and higher capital expenditure, although optimism remains for Alphabet's AI and cloud technologies.   Neil Roarty, an analyst at Stocklytics, pointed out that silver’s recent downturn might be due to profit-taking after significant gains earlier in the year. He also mentioned the potential impact of a Donald Trump victory in the upcoming U.S. elections on green energy demand for silver.   Read more: Bitcoin Soars Past $62,000 Following Trump Assassination Attempt: The Trump Effect   Bitcoin Moves Closer to 50-Day MA as Crypto Market Dips  BTC/USDT price chart | Source: TradingView    In the cryptocurrency market, the broader sell-off has also had an impact. According to Alex Kuptsikevich, senior market analyst at FxPro, the pressures from the traditional financial markets have spilled over into cryptocurrencies. The market lost 3.5% in the last 24 hours, with Bitcoin nearing its 50-day moving average, a critical support level.   However, Kuptsikevich noted a glimmer of hope for Bitcoin. The Hash Ribbons indicator, a technical analysis tool, signaled a potential buy opportunity. This indicator, which recently exited a ‘capitulation’ phase, historically precedes substantial price increases.   Ethereum, the second-largest cryptocurrency, has also been affected. It dropped over 9% to $3,150, testing its 200-day moving average. The recent launch of the Ethereum ETF, which coincided with a significant drop in the Nasdaq index, has also contributed to the sell-off.   Read More: What’s the Ethereum Price Prediction After SEC Approves Spot Ether ETFs?   PBOC Cuts Rates to 2.3%, Surprises Markets  Compounding the uncertainty, the People’s Bank of China (PBOC) made a surprise off-schedule rate cut, reducing the one-year medium-term lending facility rate to 2.3% from 2.5%. This move injected 200 billion yuan ($27.5 billion) into the market, raising concerns about economic instability in China.   Conclusion  Despite the market turbulence, some analysts see the economic data as a sign of underlying strength in the U.S. economy. ING Bank economist James Knightly suggested that the PCE data could indicate progress toward the Fed's 2% inflation target, potentially supporting the case for a rate cut later in the year.   Durable goods orders for June presented a mixed picture, with a significant decline in overall orders but a modest rise in orders excluding transportation. These figures reflect ongoing economic uncertainties, which may bolster Bitcoin’s appeal as a hedge against traditional market volatility.   In summary, while strong GDP growth and rising PCE figures have led to increased speculation about future interest rate cuts, the markets have reacted with caution. Big Tech stocks, cryptocurrencies, and precious metals have all experienced sell-offs, influenced by global economic developments and investor sentiment. The coming weeks will be crucial in determining whether these trends will continue or if the markets will stabilize.

Spot Bitcoin exchange-traded funds (ETFs) experienced net outflows of $78 million on Tuesday, marking the end of a 12-day inflow streak. Bitwise's BITB led the outflows with $70 million, followed by Ark’s ARKB at $52 million, and Grayscale’s GBTC at $27 million. In contrast, BlackRock’s IBIT ETF saw a net inflow of $72 million, pushing its assets under management (AUM) above $22 billion for the first time.   Quick Take  Bitcoin ETFs see net outflows of $78 million, ending a 12-day inflow streak. Bitwise's BITB leads outflows with $70 million, while BlackRock's IBIT sees net inflows of $72 million.BTC prices remain steady above $66,000. Ether ETFs launch with $107 million in net inflows. Market awaits potential cryptocurrency regulation updates from U.S. presidential candidates. Leading analyst Willy Woo presents a balanced Bitcoin technical analysis with both bullish and bearish indicators.   The market saw this activity as Ether ETFs launched, garnering $107 million in net inflows and trading volume exceeding $1 billion. Despite the bitcoin ETF outflows, BTC prices remained steady above $66,000, showing a minor decline of 0.5% in the past 24 hours.   Read more: Spot Ethereum ETFs Make a Splash: First-Day Trading Volume Hits $1.08 Billion   Bitcoin to See Low Volatility Ahead of Nashville Bitcoin Conference on July 25 Traders anticipate a continued lull in BTC price action until fresh commentary from U.S. presidential candidates provides more clarity on future cryptocurrency regulations.    Alice Liu, research lead at CoinMarketCap, noted, "The market is in 'wait and see' mode ahead of Trump's speech at the Nashville Conference on July 25th, where it is anticipated that he may announce BTC to be used in the national reserves."   Liu added, "If this does happen, it will trigger a parabolic rise in Bitcoin's price." Meanwhile, Singapore-based QCP Capital mentioned in a Telegram broadcast that prices might remain subdued until momentum builds leading to the elections, citing potential selling pressure from the U.S. Government and Mt. Gox.   Read more: Bitcoin Soars on Trump Speculation and ETF Inflows: Can It Break $71,500?   Mt. Gox Transfers $2.8B of BTC Holdings  The defunct Bitcoin exchange Mt. Gox moved a fresh batch of assets to new wallets on Wednesday, potentially tempering chances of a price rally. Arkham data shows Mt. Gox transferred 37,400 BTC, worth $2.5 billion, from its main wallet to a new wallet "12Gws9E," and another $300 million to an existing cold wallet. An additional $130 million was sent to crypto exchange Bitstamp. Despite these movements, BTC prices remained stable.   Mt. Gox currently holds $6 billion worth of BTC, down from $9 billion earlier in July. These movements mirrored Tuesday’s transfers, where $130 million was moved to Bitstamp, and $2.5 billion was shuffled between wallets. Several creditors on Kraken reported receiving Bitcoin repayments in their personal accounts.   Read more: Will $10 Billion in Bitcoin Repayments from Mt. Gox Weaken BTC Price?   Bitcoin Technical Analysis by Willy Woo: Short Squeeze to $77,000 Expected?  Leading crypto analyst Willy Woo recently provided an in-depth analysis of Bitcoin, highlighting five macro signals that influence his view of the top digital asset. His analysis includes three bullish and bearish indicators that could shape Bitcoin’s trajectory.   Bullish Signals Bitcoin’s bullish signals | Source: Willy Woo on X   End of Miners’ Capitulation: Woo noted that the end of miners’ capitulation is a significant bullish indicator. This phase, where miners cease to sell large amounts of Bitcoin, often precedes a price rally. The Bitcoin hash rate, reflecting the computational power for mining, is surging back, driven by new hardware like the M66s and S21 Pros. Puell Multiple: This indicator measures miners' relative profit to past revenues. Woo explained it as a two-punch macro signal. First, macro bottoms occur when profitability is at its lowest. Second, a signal bottom happens when BTC halving cuts miner earnings by 50%, setting the stage for a bull run. According to Woo, we are currently at the second stage, suggesting that miners will soon be making good profits, potentially leading to a breakout in publicly listed miner stocks. Global Liquidity: The rise in global liquidity underpins market optimism. Increased money supply often leads sectors like Traditional Finance (TradFi) to allocate funds to risk-on assets such as Bitcoin. Preliminary signs suggest a breakout in this department, attracting more investment inflows into Bitcoin and other cryptocurrencies. Bearish Signals Bitcoin Flowing into Spot Exchanges: Woo highlighted a large increase in Bitcoin moving to spot exchanges, a common precursor to sell-offs. Notably, 50,000 BTC was recently transferred to Kraken from Mt. Gox, indicating a potential imminent dump. Ethereum Spot ETF Launch: The launch of an Ethereum spot ETF could temporarily siphon capital away from Bitcoin spot ETFs into Ethereum, posing a bearish development for Bitcoin. Despite these bearish signals, Woo remains optimistic. He stated, "In summary we have a tug-o-war happening on demand and supply. In my opinion, the bullish factors overpower the bearish factors. In the short term, BTC only needs to break $73k to light the fuse to a short squeeze to $77k, above that there’s nothing holding it down for price discovery."   BTC Price Action: Sell-Side Concerns Keep Bitcoin Under $68,000 BTC/USDT price chart | Source: KuCoin    BTC price action remains in a state of flux on lower timeframes after a recovery initially lifted the market past $68,000. However, sell-side concerns persist due to ongoing payouts to Mt. Gox creditors and the market's reception of U.S. spot Ether ETFs. Monitoring resource MiningPoolStats reported Bitcoin hashrate at 676 exahashes per second as of July 22.   While the market remains in anticipation of regulatory updates and potential catalysts, the long-term outlook for BTC appears optimistic, especially with the recent buy signal from the hash ribbons indicator suggesting a potential for significant price increases.   Conclusion The recent outflows in Bitcoin ETFs highlight the market's cautious stance as it awaits crucial regulatory updates from the U.S. political landscape. Despite these outflows, the stability in BTC prices and the promising signals from Willy Woo’s analysis provide a hopeful outlook for Bitcoin's future performance. Investors remain vigilant, watching for key announcements that could propel the market into its next bullish phase.

Bitcoin prices surged on Wednesday, continuing a recent recovery fueled by speculation surrounding a possible Donald Trump presidency and the approval of Ether ETFs. Bitcoin climbed 2% in the past 24 hours to $65,803.3 by 01:41 ET.   Quick Take  Bitcoin price rises above $65,000 amid Trump speculation and institutional inflows. Mt Gox mobilizes $2.8 billion in Bitcoin, but the market absorbs the impact. Spot Bitcoin ETFs see over $1.3 billion in net inflows over the past week.   BlackRock's Bitcoin ETF sees significant inflows of $260 million on July 16, the 8th consecutive day of inflows.  Trump Fuels Optimism While Mt. Gox Moves $2.8B BTC to Exchanges The prospect of Trump winning a second term has injected optimism into the crypto market. Known for his pro-crypto stance, Trump is set to speak at the Bitcoin Conference in Nashville. His recent popularity surge, following a failed assassination attempt, has further bolstered market sentiment. Trump's campaign accepts crypto donations and plans to release more NFTs.   Read more: Trump Plans to Launch His Fourth NFT Collection Even as PolitiFi Coins Remain in the Limelight    Meanwhile, defunct crypto exchange Mt Gox has moved about $2.8 billion worth of Bitcoin to exchanges, likely for planned distributions. This move initially spooked the market, pushing Bitcoin to four-month lows earlier in July. However, the market has since rebounded, recouping all losses over the past four days.   Read more: Will $10 Billion in Bitcoin Repayments from Mt. Gox Weaken BTC Price?   US Spot Bitcoin ETFs See Over $422M Net Inflows on July 16 US spot Bitcoin ETFs inflows and outflows | Source: Glassnode    Institutional interest has also played a crucial role in Bitcoin's recovery. ETF inflows have surged, with Bitcoin investment products logging $1.347 billion in inflows between July 8 and July 12. Data from CoinShares corroborates this, showing substantial weekly inflows. Spot Bitcoin ETFs have seen seven consecutive days of net inflows, with more than $300 million flowing into 11 U.S. ETFs on July 15.   BlackRock’s iShares Bitcoin Trust gathered $260 million from investors on July 16, contributing significantly to spot Bitcoin ETFs' net inflows. This marked the eighth consecutive day of positive net inflows for U.S. spot Bitcoin ETFs, totaling $422.5 million, the best performance since June 5.   Other notable inflows include the Fidelity Wise Origin Bitcoin Fund with $61.1 million and the ARK 21Shares Bitcoin ETF with $29.8 million. Despite significant inflows into these funds, some, like Grayscale and WisdomTree-issued spot Bitcoin ETFs, failed to register any inflow.   Read more: Bitcoin ETF Investors Buy the Dip: Traders Capitalize on Market Dip with $300M Inflows   Bitcoin Breaches $65,000, Next Target $71,500?  Bitcoin technical analysis by Rekt Capital | Source: X    Bitcoin's price is currently at $65,300, according to KuCoin data. Analysts predict that Bitcoin could head toward $71,500 after breaching the $65,000 mark. Historically, breaking this barrier has led to significant upward movements.   Crypto trader Rekt Capital highlighted that breaking $65,000 could see Bitcoin move within the $65,000-$71,500 range. This range has been tested multiple times this year, often leading to further gains.   Read more: Why Is Bitcoin Price Up Today?   Bitcoin Technical Outlook: NVT Golden Cross at -1.8, Suggesting Potential Rally  A recent analysis by CryptoQuant highlights that the Bitcoin Network Value to Transactions (NVT) Golden Cross is currently at a level suggesting BTC might be underpriced. The NVT ratio measures the ratio between Bitcoin’s market cap and its transaction volume. A high value indicates the asset might be overpriced, while a low value suggests it could have room to grow.   The NVT Golden Cross, a modified version of the NVT ratio, compares its short-term trend (10-day moving average) against its long-term trend (30-day moving average). This helps identify potential tops and bottoms. Historically, when the NVT Golden Cross drops below the -1.6 line, Bitcoin is considered undervalued.   The chart below shows the trend in the NVT Golden Cross for Bitcoin over the past few years:   Bitcoin NVT Golden Cross | Source: CryptoQuant    The NVT Golden Cross recently declined into the undervalued zone, similar to the market downturn following the spot ETF approval earlier this year. This decline was followed by a rally to a new all-time high (ATH). The current value of the NVT Golden Cross is -1.8, indicating Bitcoin might still be in an undervalued state and potentially poised for further gains.     $1.47B Short Positions at Risk of Liquidation at $71,500 Bitcoin open interest (OI) | Source: CoinGlass    Despite the bullish sentiment, there is a significant amount of short positions that could be liquidated at $71,500. According to CoinGlass data, approximately $1.47 billion in short positions are at risk, indicating confidence among traders that the price might not reach that level soon. However, Open Interest (OI) has spiked 13% over the past five days, indicating renewed interest among future traders.   On-Chain Data Suggests Sellers Are Exhausted: Glassnode  German government exhausts its Bitcoin supply | Source: Glassnode    Market intelligence firm Glassnode attributes Bitcoin's recent price rally to "complete exhaustion of the German government sell-side pressure." The German government had been a significant seller, depleting their 48.8k BTC balance rapidly. The majority of this selling occurred when Bitcoin was around $54,000, suggesting the market had already priced in this sell-off.   Additionally, declining exchange flows indicate reduced selling pressure. Glassnode reports a significant drop in exchange volumes since the all-time high set in March. Current volumes have stabilized at about $1.5 billion a day, further easing sell-side pressure.   Conclusion Bitcoin's recent price rally is a result of multiple factors, including speculation around Trump’s presidency, institutional inflows, and reduced selling pressure from Mt Gox and the German government. With positive sentiment from institutional investors and potential regulatory changes on the horizon, Bitcoin could see further gains, testing new resistance levels. However, it's essential to remember that the crypto market is highly volatile. Always do your own research and consider the risks before making any investment decisions.  

Donald Trump plans to release a fourth NFT collection, revealing his growing comfort and engagement with the crypto industry. Meanwhile, PolitiFi coins continue to shine in the crypto market following Trump’s assassination attempt during the weekend, after his choosing a crypto-friendly running mate, J.D. Vance.    Quick Take  Former President Donald Trump plans to release a fourth NFT collection. Trump comfort with crypto is increasing, as he continues to accept donations in digital currencies, and raises $3 million in crypto donations for his campaign. Ohio Senator J.D. Vance, a vocal advocate for the industry, was chosen as Trump's running mate, signaling a strong pro-crypto stance. The US crypto scene could witness a potential shift towards a regulated yet integrated crypto economy, with positive market reactions and legislative efforts to support the industry. Trump’s Next NFT Collection Coming Up Soon? In an interview with Bloomberg Businessweek, Trump expressed his satisfaction with the success of his previous NFT collections, which sold out quickly. "The whole thing sold out: 45,000 of the cards. And I did it three times [and] I’m going to do another one, because the people want me to do another one. It’s unbelievable spirit. Beautiful," Trump stated.   The former president had previously hinted at the possibility of another NFT collection during a gala for his mugshot NFT holders at Mar-a-Lago in May. Initially non-committal, Trump now appears more decisive, driven by the principle of supply and demand. "One did great, two did great, three did great. At some point maybe that turns around," he had mentioned back then.   A Look a Trump’s Pro-Crypto Campaign So Far  Trump's campaign began accepting crypto donations in May, and the support from the crypto community has been substantial. A report from the Wall Street Journal highlighted that out of the $331 million raised by Trump's campaign last quarter, $3 million came from crypto donations. This significant sum underscores the growing acceptance and integration of cryptocurrency in political fundraising.   Trump's growing familiarity with the crypto industry is evident from his interactions with major players at his fundraisers. "I’ve gotten to know a lot of people from the crypto industry at my fundraisers, calling them 'top-flight people'," Trump told Bloomberg Businessweek. Once a skeptic, Trump now believes that embracing crypto is essential for the United States to maintain its competitive edge, particularly against countries like China.   Read more: PolitiFi Tokens Gain Traction as Trump Survives Assassination Attempt   Pro-Crypto Running Mate Trump's selection of Ohio Senator J.D. Vance as his running mate is another clear indication of his commitment to the crypto sector. Vance, known for his pro-crypto stance, has been a vocal advocate for the industry. He has criticized the United States' "regulation by enforcement" regime and has been instrumental in drafting crypto-friendly legislation. Vance's involvement in the crypto space is not just political; he has personal investments in Bitcoin, highlighting his belief in the technology.   In 2023, Vance introduced a bill to protect banks from regulatory pressures to sever ties with crypto platforms. He has also been vocal about the SEC's aggressive actions against decentralized finance (DeFi) protocols. His draft Senate legislation is seen as even more crypto-friendly than the House’s Financial Innovation and Technology for the 21st Century Act (FIT21).   Future of U.S. Crypto The significance of a crypto-friendly White House under Trump and Vance cannot be overstated. The current U.S. regulatory environment has often been seen as stifling innovation in the crypto space. A Trump administration with a clear pro-crypto agenda could bring about much-needed regulatory clarity, enabling greater integration of blockchain technology into the financial system.   Historically, U.S. regulators have subjected blockchain protocols to arbitrary and punitive enforcement actions, resulting in a bifurcated system. This has led to a freewheeling ecosystem of unregulated Web3 protocols and slow progress among regulated institutions. The solution lies in regulatory clarity, which a Trump administration is likely to pursue.   The SEC could embrace the issuance of tokenized securities in compliance with existing disclosure requirements, while the Commodity Futures Trading Commission (CFTC) could oversee cryptocurrency spot markets and blockchain networks, including decentralized exchanges. Clear guidelines for safe and transparent dollar-backed stablecoins, like Circle’s USD Coin (USDC), could spark a proliferation of on-chain dollarization, securing America’s lead role in the digital economy.   PolitiFi Coins Continue to Trade Bullish: MAGA (TRUMP) Weekly Gains Over 36%  TRUMP price chart | Source: Coinmarketcap    Trump’s evolving stance on crypto has also impacted the performance of PolitiFi coins, especially the MAGA (TRUMP) token. Following the announcement of Vance as his running mate, these tokens saw a significant surge. The MAGA (TRUMP) token, in particular, has experienced a notable increase in value, reflecting the market’s positive reception to a pro-crypto administration.    Over the past week, the MAGA (TRUMP) token has risen by approximately 36%, currently trading at around $7.79 with a market cap exceeding $367 million. This performance underscores the strong connection between political developments and crypto market dynamics.   Read more: Donald Trump Memecoin MAGA Price Soars 64% Following Assassination Attempt   Conclusion Trump's pivot towards embracing crypto is not just about innovation but also about national security. "If we don’t do it, China is going to pick it up and China’s going to have it – or somebody else, but most likely China," Trump stated, emphasizing the strategic importance of leading in this sector.   Trump's plan to release a fourth NFT collection, his acceptance of crypto donations, and the selection of J.D. Vance as his running mate suggest a shift towards a more crypto-friendly future. With potential regulatory clarity on the horizon, the U.S. crypto industry may be on the verge of increased integration and development. Observers will closely monitor these developments as they could reshape the global crypto landscape.  Read more: Top PolitiFi Tokens to Watch During the US Presidential Elections