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According to BlockBeats, on October 3, Whale Alert reported the activation of a Bitcoin address that had been dormant for 10.7 years. The address contains 99 Bitcoins, which have appreciated significantly in value, now worth over $6 million.

According to Odaily, the Hong Kong Monetary Authority (HKMA) and the Qatar Central Bank held a bilateral meeting on October 3 in Doha (Doha time) to enhance cooperation in the financial services sector. During the meeting, the two institutions discussed various collaborative initiatives aimed at strengthening financial infrastructure. They also shared experiences on capital market connectivity, sustainable finance, bond market development, digital assets, and talent cultivation.

According to BlockBeats, on October 3, CoinMarketCap's (CMC) research division, CMC Research, released its third-quarter market report, indicating that Bitcoin's bull market cycle is accelerating. The report suggests that this bull market is advancing 100 days ahead of the typical four-year cycle. Various factors, including institutional adoption, Bitcoin exchange-traded funds (ETFs), and evolving market dynamics, are driving this potential supercycle.

CMC Research anticipates that the current bull market will peak between mid-May and mid-June 2025. Despite the early acceleration, there are signs that infrastructure growth is slowing, which may indicate broader changes in market dynamics.

On Oct 03, 2024, 11:00 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 61,000 USDT benchmark and is now trading at 61,046 USDT, with a narrowed narrowed 0.24% decrease in 24 hours.

According to Foresight News, on-chain data from SolanaFloor reveals that a trader made a significant profit by investing in the Pochita token. The trader initially spent 20 SOL to purchase the token when its market value was only $200,000. Subsequently, the trader sold the tokens, earning 1064 SOL, which translates to a remarkable return rate of 5220%.

According to Odaily, Standard Chartered Bank analyst Geoff Kendrick has indicated that Bitcoin might fall below $60,000 before the weekend due to concerns over geopolitical risks. However, Kendrick views this potential drop as an opportunity for accumulation. He also highlighted a significant increase in bullish Bitcoin options positions, noting a rise in open interest for options with an $80,000 strike price expiring on December 27.

Kendrick further pointed out that Bitcoin has not emerged as a safe haven against geopolitical tensions. He stated, 'Gold is a geopolitical hedge. Bitcoin is a tool to hedge against traditional financial issues such as bank failures or de-dollarization and sustainability issues of the U.S. Treasury.'

According to Foresight News, Layer has successfully raised $6 million in a seed funding round led by 1kx. The round also saw participation from Fabric Ventures, Arrington Capital, and IOBC. Notable angel investors included Sreeram Kannan from EigenLayer, Rok Kopp and Mike Silagadze from Ether.fi, and former BlackRock employee Paul Taylor.

Layer leverages Web Assembly to enable developers to write applications in languages like Rust that can run anywhere, including on iPhones. The company's upcoming product, 'Layer SDK,' will allow developers to build new layers on top of Ethereum. This will facilitate the creation of full-stack blockchain applications, encompassing smart contracts, consensus mechanisms, user interfaces, and verifiable off-chain services.

According to Cointelegraph, banks across North America, Europe, and Asia are gearing up to participate in new digital asset trials initiated by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). SWIFT announced on October 3 that it will commence a digital asset trial on its network in 2025. The trial will focus on experimenting with transactions involving multiple digital currencies and assets.The primary objective of these trials is to explore how the banking network can offer financial institutions unified access to various digital asset classes and currencies. Initial use cases will concentrate on payments, foreign exchange, securities, and trade, enabling multi-ledger delivery-versus-payment and payment-versus-payment transactions.In its announcement, SWIFT emphasized the rapid growth of unconnected platforms and technologies within the digital asset economy, leading to an increasingly fragmented landscape. This fragmentation, according to SWIFT, poses significant challenges to global adoption by creating a complex web of 'digital islands.'SWIFT aims to leverage its unique position to interlink these disparate networks with each other and with existing fiat currencies. This initiative is intended to enable its global community to seamlessly transact using digital assets and currencies alongside traditional forms of value.Cointelegraph reached out to SWIFT for comments regarding which digital assets are likely to be part of its blockchain trials in 2024 but did not receive a response at the time of publication. This is a developing story, and further information will be added as it becomes available.

According to Odaily, the enigmatic whale known as '7 Siblings,' which holds assets worth $2.2 billion, has made a notable reentry into the cryptocurrency market. During the recent downturn, the whale acquired 28,120 ETH, valued at $66 million, at an average price of $2,350 per ETH. This significant purchase highlights the whale's strategic investment moves amid market fluctuations.

Furthermore, it is noteworthy that on August 5, during a market crash, '7 Siblings' spent 129.3 million USDC to buy 56,093 ETH at an average price of $2,305 per ETH. This substantial acquisition underscores the whale's confidence in Ethereum's potential and its ability to capitalize on market dips.

According to PANews, the Federal Reserve may encounter additional complexities in the October employment report, which is expected to be released before the upcoming meeting on November 6-7. Lydia Boussour, a senior economist at EY, stated that any significant slowdown in wage growth and a substantial rise in the unemployment rate could lead data-dependent Fed policymakers to consider another 50 basis point rate cut. However, Neil Dutta, head of economic research at Renaissance Macro Research, anticipates two significant 50 basis point rate cuts in November and December due to complications arising from strikes and hurricane damage.

The global crypto market cap is $2.11T, a 1.87% decrease over the last day, according to CoinMarketCap data.Bitcoin (BTC) traded between $60,000 and $62,390 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $60,654, down by 1.43%.Most major cryptocurrencies by market cap are trading lower. Market outperformers include ALPINE, SUN, and AXL, up by 19%, 8%, and 8%, respectively.Top stories of the day:Federal Reserve Rate Cut Probabilities for November Revealed Swift to Launch Digital Asset Trials in 2025 Bitcoin Poised for Positive Seasonality in Q4 CryptoQuant Founder: Market Volatility Driven by Futures Fed Chair Powell Signals No Rush to Cut Rates Amid Upcoming Job ReportsFed Official Suggests September Rate Cut Was Justified SEC Appeals Ripple Lawsuit Ruling Fed Faces Potential Challenges Ahead of November Meeting BlackRock and Fidelity Bitcoin ETFs Rank Among Top 10 in AUM ADP Report Shows Broad Rebound in U.S. Job CreationMarket movers:ETH: $2349.1 (-4.79%)BNB: $542.3 (-1.92%)SOL: $137.56 (-6.52%)XRP: $0.5176 (-12.89%)DOGE: $0.10298 (-4.12%)TRX: $0.154 (-0.13%)TON: $5.208 (-4.82%)ADA: $0.338 (-4.79%)AVAX: $24.62 (-6.32%)SHIB: $0.00001595 (-4.49%)Top gainers on Binance:ALPINE/USDT (+19%)SUN/USDT (+8%)AXL/USDT (+8%)

According to Odaily, Federal Reserve Chair Jerome Powell has indicated that the Fed is not in a hurry to lower interest rates and prefers a gradual approach to rate cuts. However, this patience will be tested with a series of highly anticipated employment reports set to be released starting this Friday. If there are any new signs of deterioration in the job market, the Fed may be compelled to make a significant rate cut of 0.5 percentage points initially, followed by another substantial cut, even though policymakers currently expect to reduce rates by 25 basis points in both November and December.The latest employment market data, expected to be released on Friday, is anticipated to reinforce a trend of moderate cooling. Economists predict that 146,000 jobs were created last month, with the unemployment rate remaining steady at 4.2%. This report is largely in line with the creation of 142,000 jobs in August.

According to Cointelegraph, the cryptocurrency market has experienced a significant decline, with artificial intelligence and big data-related tokens losing $4.69 billion in market capitalization over three days. The market, which was valued at $38.82 billion on September 30, fell to $34.13 billion by October 3, casting doubt on the anticipated 'UPtober' trend where investors had hoped for a market recovery.

Despite October's historical reputation as a favorable month for traders, this year appears to be shaping up as 'Octo-bear' rather than 'UPtober.' Among the leading AI and big data tokens, Near Protocol (NEAR) has seen the steepest decline, dropping 14.88% over the past seven days. As of the time of writing, NEAR is priced at $4.61. Other top-performing tokens, such as Bitensor (TAO) and Internet Computer (ICP), also experienced significant price declines, losing 9.37% and 13.35%, respectively, over the same period. This downward trend has impacted the broader AI and big data market, with tokens like Render (RNDR) down 13.64% and Artificial Superintelligence Alliance (FET) down 16.68%.

Historically, October has been a period of strong gains and market stability, with many expecting Bitcoin (BTC) and altcoins to see upward momentum throughout the month. However, 2024 has defied that trend, with nearly $5 billion wiped from the AI and big data token market cap just three days into October. The broader crypto market has also seen a downward trend, influenced by geopolitical factors such as the ongoing conflict in the Middle East, regulatory challenges, and macroeconomic concerns.

Despite the recent downturn, AI tokens are still performing significantly better than in July, when the total market cap was around $20 billion. Considering the shift in pace from three months ago, the AI and big data token market is up over $13 billion, essentially trivializing the recent loss in market cap in October. While the long-term trend for BTC in the fourth quarter and early 2025 seems positive, recent signs indicate there could be some short-term volatility in October.

According to Cointelegraph, Bitcoin (BTC) continues to exhibit a bullish market structure despite a recent retest of the $60,000 support level. Popular trader and analyst Rekt Capital has dismissed the fearful market sentiment surrounding the current BTC price action, emphasizing that Bitcoin's return to the $60,000 level is not a cause for concern.

BTC/USD has experienced a 6% drop over the past three days, following a recent peak above $66,000. Rekt Capital noted that Bitcoin has revisited the low $60,000s multiple times in recent months, and each pullback has been met with different narratives of fear. He maintains that the bullish market structure remains intact.

Fellow trader Jelle shares this optimistic outlook, suggesting that Bitcoin is undergoing a significant resistance/support flip. He reassured his followers that despite the initial red start to the quarter, Bitcoin's market structure is bullish, and key support levels are being reinforced.

Previously, Cointelegraph reported on bearish BTC price predictions, with some analysts forecasting a potential drop below $60,000. Entrepreneur Mark Cullen advised traders to prepare for a possible dip to around $57,000, indicating that Bitcoin might still be heading lower.

Onchain data analysis by Checkmate, the pseudonymous creator of Checkonchain, provides further insights. Using the short-term holder spent output profit ratio (STH-SOPR) metric, Checkmate observed that recent price performance reflects profit-taking by Bitcoin speculators. The STH-SOPR metric, which measures the proportion of funds in profit when moved onchain, has dipped below its center value of 1.0, suggesting a potential 'buy the dip' opportunity.

Checkmate explained that a high STH-SOPR indicates profit-taking and selling pressure, while dips back to 1.0 or brief undercuts in a bull market present opportunities to accumulate Bitcoin at lower prices.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

According to Odaily, Bitcoin mining company Bitfarms has released its monthly production report, revealing that the company has achieved its year-end efficiency target of 21 w/TH over the past three months. In September, Bitfarms mined 217 BTC, a decrease from the 233 BTC mined in August. Additionally, Bitfarms disclosed that it sold 173 BTC in September as part of its regular funding operations, generating total revenue of $10.5 million. The company also announced that it reached a settlement agreement with Riot Platforms Inc. and rescheduled its special shareholder meeting from November 6, 2024, to November 20, 2024.

According to Odaily, Australian police have confiscated $6.4 million worth of cryptocurrency in a crackdown on the encrypted communication network known as Ghost. Authorities described the network as being specifically designed for organized crime groups. The seized cryptocurrency has been transferred to a secure storage managed by the Australian Federal Police (AFP), and efforts are underway to seek its permanent forfeiture.

According to Odaily, data from Ave indicates that the cryptocurrency Goofy has experienced a significant increase of over 50% in the past 24 hours, currently trading at $0.0051. Goofy is an animal-themed meme coin issued on the Solana blockchain.

According to Odaily, Ethereum co-founder Vitalik Buterin recently proposed on social media that developers should consider the possibility that the current 32 ETH staking requirement is a higher barrier for stakers than bandwidth requirements. He suggested that slightly increasing the bandwidth requirement in exchange for lowering the minimum staking deposit to 16 or 24 ETH could benefit both staking accessibility and scale. Buterin further mentioned that once Ethereum completes the peerdas upgrade, bandwidth requirements would decrease, and with the completion of orbit SSF, the minimum deposit could be reduced to as low as 1 ETH.

According to PANews, a cryptocurrency researcher known as @LehmannLorenz on the X platform reported a near-miss incident where his computer was almost compromised by a malicious browser extension. The extension, developed by an unverified source, amassed 1.7 million downloads and a perfect 5/5 star rating within just one day of its release. Upon downloading and examining the extension, everything appeared normal except for an obfuscated 'extension.js' file that ran during installation. Log files indicated that the script eventually encountered an error, relying on PowerShell execution to operate entirely in memory, leaving no traces on the disk.

In response, SlowMist's Yu Jian stated that this incident represents a supply chain phishing attack targeting Solidity smart contract developers. He emphasized that the editor environment is a high-risk area for supply chain attacks. To mitigate risks, he advised isolating usage as much as possible, avoiding unnecessary installations, and adhering to the principle of 'just enough is enough.' He also recommended using separate computers or virtual machines for more complex tasks to ensure security.