The FBI responded to a FOIA request regarding Satoshi Nakamoto and caused speculation by not denying or affirmatively stating there are no records of him.
The traded volume of XRP increased by $12 billion, implying more market action with possible institutional demand, even with a slight increase in market cap share.
Arthur Hayes, foresees an altcoin season provided that BTC and ETH hit certain price levels, which might cause the overall crypto asset class to surge.
The FBI has recently released information regarding Satoshi Nakamoto, the unknown person behind the creation of Bitcoin, in response to FOIA. Dave Troy, an investigative journalist, requested information about Nakamoto’s identity or any records in that regard. The reply that has attracted much attention and debate in the cryptosphere is that the FBI could not confirm or deny the existence of such records.
https://twitter.com/davetroy/status/1823331081333928422
Some consider this a normal response that should be generally provided in cases that do not involve non-U. S. persons. Troy has stated that he intends to appeal this decision to gain any information that may be possible beyond Satoshi’s identity while not violating the rules.
XRP Sees Surge in Trading Volume
In another related case, XRP, which has been in the marketplace for quite some time, has seen a rise in trading volumes. This increase might be attributed to massive inflows from institutional investors or large transactions by significant shareholders. This volume is widely considered to signal the direction of the price because more people are participating in buying or selling.
However, XRP’s percentage of the total market cap has only increased to about 1.4% in the surge. Some financial experts suggest that this increase in trading volume may be due to investors’ expectations of further news. Nevertheless, the gross specifics of this increase are still unknown, and the market is waiting for the next clue.
Arthur Hayes Predicts Altcoin Season
On the other hand, Arthur Hayes, the co-founder of BitMex, has provided his thoughts about an expected new altcoin season. Hayes analyzes the connections between the shrinking RRPs and the increase in Bitcoin prices in the essay “Water, Water, Everywhere.” He anticipates that more money will lead to a general rise in asset prices, which should include cryptocurrencies.
Hayes also confirms his positive outlook on Bitcoin, stating that Bitcoin might fasten to $ 100,000 in the short term and $ 1,000,000 in the long term. However, he is optimistic that a full-fledged altcoin season will kick in when Bitcoin and Ethereum embark on crossing $70K and $4,000, respectively. This perspective thus provides a guide for traders and investors by pointing at timing as the key to exploiting an upturn.
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