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๐ŸŽ‰Buckle up, BTC enthusiasts!๐ŸŽ‰ Bitcoin had a rollercoaster ride this week, plunging to a ten-day low and then leaping nearly five grand a day later, though it struggled to maintain its momentum. ๐Ÿ“‰๐Ÿ“ˆ Starting the week, BTC couldn't break past $71,000, leading to a $2,000 drop. It bounced back to $70,000 on Tuesday, but the bears weren't done, pushing it down to $66,000. ๐Ÿป Pressure continued, driving Bitcoin to a ten-day low of around $64,500. This dip came amid news that the US government transferred 2,000 BTC to Coinbase, seized from Silk Road. Fears of a potential sale triggered a significant price drop. ๐Ÿ˜ฑ But Bitcoin bounced back! It surged nearly five grand a day later to just over $69,000. However, this was short-lived, and the asset fell to $66,000 yesterday. At present, BTC is hovering around $68,000, with the bulls back in control. ๐Ÿ‚ The market cap has risen to $1.340 trillion, and BTC's dominance over altcoins stands strong at 50.3%. ๐Ÿ’ช Meanwhile, most altcoins, which suffered earlier this week, are now in the green with minor gains. DOGE is leading the pack with a 5% jump, reclaiming the $0.18 level. ๐Ÿ• The total crypto market cap has increased by about $30 billion since yesterday, reaching $2.665 trillion. ๐Ÿš€ Stay tuned, crypto fans! The ride isn't over yet! ๐ŸŽข

๐ŸŽ‰Buckle up, BTC enthusiasts!๐ŸŽ‰ Bitcoin had a rollercoaster ride this week, plunging to a ten-day low and then leaping nearly five grand a day later, though it struggled to maintain its momentum. ๐Ÿ“‰๐Ÿ“ˆ

Starting the week, BTC couldn't break past $71,000, leading to a $2,000 drop. It bounced back to $70,000 on Tuesday, but the bears weren't done, pushing it down to $66,000. ๐Ÿป

Pressure continued, driving Bitcoin to a ten-day low of around $64,500. This dip came amid news that the US government transferred 2,000 BTC to Coinbase, seized from Silk Road. Fears of a potential sale triggered a significant price drop. ๐Ÿ˜ฑ

But Bitcoin bounced back! It surged nearly five grand a day later to just over $69,000. However, this was short-lived, and the asset fell to $66,000 yesterday. At present, BTC is hovering around $68,000, with the bulls back in control. ๐Ÿ‚

The market cap has risen to $1.340 trillion, and BTC's dominance over altcoins stands strong at 50.3%. ๐Ÿ’ช

Meanwhile, most altcoins, which suffered earlier this week, are now in the green with minor gains. DOGE is leading the pack with a 5% jump, reclaiming the $0.18 level. ๐Ÿ•

The total crypto market cap has increased by about $30 billion since yesterday, reaching $2.665 trillion. ๐Ÿš€

Stay tuned, crypto fans! The ride isn't over yet! ๐ŸŽข

Disclaimer: Includes third-party opinions. No financial advice.ย See T&Cs.
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๐Ÿš€๐Ÿ”ฅ Bitcoin is about to get a major upgrade! Blockchain developers are inching closer to launching rollups on Bitcoin, a move that could unlock "unlimited smart contract functionality" and scaling capabilities previously unheard of in the Bitcoin network. ๐Ÿคฏ On Friday, BitcoinOS released the whitepaper for "BitSNARK and Grail", a system designed to bridge Bitcoin to layer 2 rollups and blockchains in a trust-minimized way. ๐ŸŒ‰ This new rollup system is an evolution of BitVM, a Bitcoin-based computing paradigm discovered by Robin Linus last year. BitVM's most notable application was its ability to verify "Succinct Non-Interactive Arguments of Knowledge" (SNARKs) on Bitcoin. This opened the door for Bitcoin Rollup Bridges and scaling technologies similar to those on Ethereum. ๐Ÿš€ BitSNARK takes BitVM a step further by using a software library optimized for this purpose, enabling bridges that are cheap, efficient, and secure enough for practical use. ๐Ÿ›ก๏ธ Edan Yago, one of the paper's authors, hailed this as a solution to Bitcoin's trilemma of scale, computational expressivity, and decentralization. The best part? No softfork, upgrades, or new op-codes are required. ๐Ÿ’ช The Grail system uses BitSNARK to generate SNARK proofs for Bitcoin and rollup transactions, allowing secure asset transfers between L1 and L2 rollups. The Grail bridge requires at least two operators to function, but theoretically, any number could be supported. ๐Ÿ”„ Yago revealed that the BitcoinOS team is currently aiming to design a bridge with over 100 operators. "The trust assumption works unless all parties collude," he added. "That's what makes it so strong." ๐Ÿ’Ž This news comes hot on the heels of the launch of Runes, a Bitcoin token protocol that's driven up activity and fees substantially on Bitcoin's base layer over the past week. ๐ŸŽ‰ Stay tuned, Bitcoin enthusiasts! The future of Bitcoin looks brighter than ever! ๐ŸŒž๐Ÿš€
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๐Ÿš€Bitcoin enthusiasts, buckle up! ๐Ÿš€ Crypto industry insiders predict a rocky road ahead for Ethereum (ETH) spot ETFs, with a likely denial of public trading approval by regulators next month. ๐Ÿ˜ฑ If this happens, U.S. investors might have to wait until December 2024 or later for such a product, leaving Bitcoin (BTC) miles ahead in the Wall Street adoption race. ๐Ÿ Why the pessimism around Ethereum ETFs? ๐Ÿค” Insiders tell Reuters that the Securities and Exchange Commission (SEC) has been less than forthcoming in discussions with potential Ethereum ETF issuers. Unlike the cooperative approach taken with Bitcoin spot ETF approvals earlier this year, the SEC has been tight-lipped on the specifics of proposed Ethereum products. ๐Ÿค ETF issuers argue that the October listing of Ethereum futures ETFs sets a precedent for ETH-based investment products in public markets. This echoes Grayscale's successful lawsuit against the SEC over Bitcoin spot ETF denials in 2022. However, the SEC isn't biting, suggesting a likely denial of current applications. ๐Ÿ˜ž Will there be another lawsuit? ๐Ÿ›๏ธ Some speculate that ether ETFs might only see the light of day after a lawsuit. But Grayscale may not be keen to fund another legal battle, given the potentially smaller financial reward. ๐Ÿคทโ€โ™‚๏ธ The SEC chairman's personal criticism of crypto, coupled with the agency's potential justification of needing more time to review the product, adds to the uncertainty. ๐Ÿ˜“ So, while the future of Ethereum ETFs remains hazy, Bitcoin continues to shine bright. ๐ŸŒž Stay tuned for more updates! ๐Ÿ“ก
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