Bitcoin [BTC] price action has been a hot topic this week, and new data from Binance and IntoTheBlock has sparked fresh speculation about what’s next for the king of cryptocurrencies.
With a significant portion of market participants shorting and a surge in active addresses, there are a lot of issues that need to be addressed.
Most Bitcoin traders are short
According to Coinglass data, 58.23% of all Binance accounts holding Bitcoin positions are in a short position. This reflects that market participants have very strong expectations for a drop in Bitcoin prices.
However, on the other hand, this short position can also lead to a sudden price surge when Bitcoin moves against the crowd and forces those traders to cover their shorts.

Celestia [TIA] is gaining significant momentum as it continues to work its way out of a prolonged consolidation phase that has kept price action subdued for months.
At press time, the token is trading at $5.95 and is up 6.85% in the past 24 hours, showing bullish potential. Will TIA maintain its upward momentum and move higher, or will resistance levels slow its upward momentum? Let’s find out.
Overview of the scope of TIA integration: Will it break free?
TIA has been caught in a long-term downtrend, as shown by a descending price channel. The coin has been struggling to break above key resistance levels and has remained within this channel for several months.

The entire cryptocurrency market is experiencing significant selling pressure and falling prices. Amid this, the popular Solana-based meme coin Popcat (POPCAT) has surged to become a leader in the cryptocurrency market. Moreover, with its impressive performance, the meme coin has outperformed major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Current Price Momentum
According to CoinMarketCap, POPCAT is currently trading at nearly $1.37, with a price increase of more than 13% in the past 24 hours. Interestingly, this price increase comes at a time when major cryptocurrencies such as BTC, ETH, and SOL are falling.

Bitcoin price remains bullish above the $67,000 resistance area. BTC is currently consolidating and aims to surpass the $68,350 resistance level for further gains.
Bitcoin remained stable and extended its gains above $67,500.
The price is currently above $67,400 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support at $67,400 on the hourly chart of the BTC/USD pair (data source from Kraken).
The pair could rise further if there is a close above the $68,200 resistance area.

Donald Trump’s odds of winning the 2024 US presidential election look higher than ever. On decentralized prediction platform Polymarket, Trump leads Kamala Harris by 16%. With his pro-crypto stance and involvement in decentralized finance (DeFi), Trump’s popularity is growing rapidly, especially among cryptocurrency enthusiasts. So, what’s really behind this surge? And could this be a sign of things to come?
Trump vs. Harris: An unexpected lead

As Bitcoin [BTC] approaches a market top, many altcoins are also expected to surge, driven primarily by investors seeking to diversify their portfolios and reduce risk.
As a result, the cryptocurrency market is excited about the prospects of the upcoming altcoin season, with many tokens expected to capitalize on the recent momentum and, in many cases, outperform BTC.
Altcoin season may have to wait a while longer
In theory, altcoin season begins when 37 of the top 50 altcoins outperform Bitcoin on a 90-day average.

Cryptocurrency Market Update: The cryptocurrency industry continued its upward trend, with its market capitalization increasing by 2.25% in 24 hours to $2.28 trillion. Positive sentiment pushed the Fear & Greed Index reading to a neutral score of 56. As a result, trading volumes surged by 56.06%, bringing the 24-hour trading volume to $90.7 billion.
Bitcoin breaks $65K: Inflows surge as rally continues
Bitcoin price has breached the psychological $65,000 mark and is trading at $65,231.76 following a 2.15% gain in the previous 24 hours. The momentum was driven by massive inflows into Bitcoin ETFs, which totaled $555.86 million as of Oct. 14. Analysts are keeping a close eye on Bitcoin as it maintains strong support and trading volumes are rising, with volumes up 71.99% in the past day.

The cryptocurrency market witnessed Bitcoin prices falling before recovering to their previous levels amid mixed economic data from the United States.
In the new week, there are many economic developments and altcoin events that you can pay attention to.
All times are Turkish time (UTC+3)
Monday, October 14
The second part of the first phase of the Babylon-Mainnet is about to begin.
TAIKO – $23 million worth of tokens will be unlocked.
15:00 – The World Free X Space event will take place, with US presidential candidate Donald Trump in attendance. Elon Musk is also said to be attending the event.

FTX and its sister company Alameda faced the largest crypto-related enforcement by U.S. regulators, with a combined settlement of $12.7 billion.
According to CoinGecko's findings, this amount ranks among the highest penalties imposed on cryptocurrency companies, highlighting the regulator's attention to the now-bankrupt exchange. Meanwhile, Binance's $4 billion settlement is the largest fine ever issued to an operating cryptocurrency company. However, it only ranks fourth.
FTX stepped up its crackdown
The crypto data aggregator revealed in a report released earlier this week that 25 U.S. crypto enforcement actions resulted in settlements of more than $10 million each, with total fines in those cases approaching $32 billion, suggesting a growing crackdown on the industry.

XRP continues to move sideways after encountering resistance at $0.60 multiple times in the last three months. The recent pullback from this level has resulted in an ascending channel breakout on the daily chart, highlighting a possible shift in market sentiment.
At press time, XRP is trading around $0.5328, having gained 1.66% over the past 24 hours.
Can XRP bulls stage a comeback?

XRP has been facing resistance at the $0.60 level, resulting in a long period of consolidation. The recent decline from this level has triggered a classic ascending channel breakout, resulting in a break below the 20-day EMA and the 50-day EMA – these levels are now acting as immediate resistance.

Despite recent volatility, there are several indicators that suggest BTC may be entering a bullish phase.
On the other hand, one important factor suggests that the correction will intensify in the short term.
Is “Uptober” still in the works?
Bitcoin (BTC) has experienced significant volatility since the beginning of October, performing worse than some expected. After all, this month has been a historically positive period for the entire cryptocurrency industry, leading the community to dub it “Uptober.”

Currently, BTC is trading just below $61,000, down 5% in 10 days. However, some important indicators suggest that a recovery may be on the horizon.

What’s new with Ripple (XRP)?
The company recently made headlines for receiving another honor. Juniper Research, an agency specializing in providing in-depth market research and strategic insights in the field of digital technology, awarded Ripple the Platinum Award for Best Cross-Border Payment Platform for 2024.
Previously, Ripple won the PAY360 Award, a major award in the UK payment field, and Fortune magazine listed it as one of the top 50 technology workplaces in 2023.
The company’s upcoming stablecoin, RLUSD, has also made some progress, with Ripple minting and destroying thousands of tokens during its private beta testing phase over the past few weeks.

South Korean law now allows spouses to claim cryptocurrency and Bitcoin during divorce proceedings and treat them as marital property.
Married couples in South Korea can now divide their cryptocurrency holdings during divorce proceedings, according to a law firm specializing in the country’s legal system.
South Korean law firm IPG Legal has clarified the law regarding the consideration of cryptocurrencies among marital assets in divorce cases. In response to a common question from clients, the firm explained that under South Korean law, both tangible and intangible assets can be divided in a divorce:
“According to Article 839-2 of the Korean Civil Code, upon divorce in Korea, either spouse can request the division of marital property accumulated during the marriage.”

Standard Chartered predicts that the price of Solana (SOL) could grow fivefold if Donald Trump wins the upcoming U.S. presidential election. The prediction stems from the growth of Solana’s user base, which recently surpassed 100 million monthly active addresses for the first time.
Elections and Solana (SOL)
In a discussion with the bank’s global head of digital asset research, Geoff Kendrick, Solana was discussed, Bitcoin at $62,301, and Ethereum at $2,451 based on the outcome of the 2024 U.S. presidential election. If Trump is positive about cryptocurrencies during his presidency. According to him, in this case, the price could rise fivefold to four figures.

Bitcoin price corrected gains and tested the $61,850 area. BTC is consolidating and it could aim for fresh gains above the $62,500 resistance.
Bitcoin holds gains above $61,850.
The price is trading below $62,500 and the 100 hourly simple moving average.
There is a connecting bearish trend line forming with resistance at $61,450 on the hourly chart of the BTC/USD pair (data source from Kraken).
Unless there is a close below the $61,700 area, the pair could start another upward move.
Bitcoin price expected to rise again

Recently, the price of Bitcoin has risen sharply, approaching $65,000. Many participants in the market were shocked by this sudden and swift move. But as the value of Bitcoin rose rapidly, selling pressure also followed, causing the price to fall sharply.
The price knife on the chart is a classic example of Bitcoin’s volatility, especially when liquidity is thin. Price action prior to $65,000 looked encouraging, but the subsequent reversal showed that BTC is struggling to maintain its upward momentum. While the initial excitement surrounding this sharp move was exciting, the follow-through was not enough to sustain gains, begging the question if BTC will be able to reach this level of growth again soon.

New York, USA, October 9, 2024 - The Sui Foundation recently announced support for native USDC on the Sui network. As the first and top DeFi and liquidity protocol on Sui, NAVI announced that it will integrate Circle’s native USDC asset on DAY 1.
With $120 million in USDC liquidity, this constitutes the third-largest USDC supply in the industry, behind Aave and Compound. The integration of Circle’s USDC stablecoin directly into the Sui network increases capital efficiency and improves user experience across the ecosystem.
This move strengthens Sui’s position in the blockchain industry, improves user experience, and fully supports native USDC through NAVI, promoting wider adoption of the Sui ecosystem through a set of in-app migration functions and a capital-efficient native USDC liquidity pool, including native USDC liquidity support, flash loan functions and other features.

Anticipation for Bitcoin’s next big rally has been growing in the cryptocurrency community following the start of the current bull run. However, the wait may be over as one cryptocurrency expert predicts that Bitcoin will see a rally in the final quarter of the year.
Bitcoin expected to hit a new all-time high by the end of this year
Author and online economist Timothy Peterson is optimistic about Bitcoin’s prospects in the fourth quarter of 2024, predicting that the crypto asset could be preparing for a short-term price surge and could hit a new all-time high by the end of the year.

Bitcoin faces price correction amid economic uncertainty
In the early hours of September 30, Bitcoin (BTC) price fell 4.1% to retest the $63,500 support level, erasing the gains of the previous five days. The cryptocurrency struggled to maintain its position above $66,000, resulting in the liquidation of less than $40 million in leveraged long futures. This shows that bulls are ready to take action, although the factors that led to the decline are still everywhere.
The impact of the US economic outlook on Bitcoin
U.S. stock futures fell 0.20% as investors awaited comments from Federal Reserve Chairman Jerome Powell on the economic outlook. Growing concerns about service and manufacturing activity coupled with the upcoming September jobs report, which is due on October 4. According to Yahoo Finance, Bank of America U.S. economist Aditya Bhave noted that “the labor market is the biggest risk to our outlook.” Given Bitcoin’s short-term correlation with the stock market, any slowdown in the S&P 500 could have a negative impact on BTC prices.

Bitcoin [BTC] has been experiencing strong upward momentum throughout the month. Historically, September is usually accompanied by a bearish trend. However, this month has seen a dramatic turnaround, with BTC setting higher lows.
In fact, as of this writing, Bitcoin is trading at $65,530. This marks a 10.52% gain on the monthly chart and continues a 4.16% uptrend over the past week.
However, there has been a minor correction over the past 24 hours, with Bitcoin down 0.46%.
Therefore, the current market conditions have everyone talking about the direction of Bitcoin. I believe that the bullish trend will continue based on the bullish RSI divergence.