#MarketRebound El Salvador will expand BTC purchases in defiance of the IMF deal. El Salvador’s National Bitcoin Office said the country will continue to buy the first cryptocurrency and possibly at an ‘accelerated pace’.

US mining company MARA has launched a second project in Finland to use the heat generated by cryptocurrency mining for home heating. With this latest initiative, 80,000 residents of the country will be provided with heat generated by mining equipment.

#MarketRebound Bitcoin Fell Back to Local Support

Bitcoin is trading around $95.5K, receiving support near the 50-day moving average on Friday and Monday.

Bitcoin’s Holiday Liquidity Crunch May Amplify Price Swings, but Buyers May Step In

The crypto market retreated last week and is in no hurry to recover, remaining at $3.31 trillion, roughly where it was 30 days ago. The sharp dip below $3.2 trillion was also quickly bought back, but a full-blown rebound is yet to be seen. Markets continue to digest the Fed’s tougher tone, reinforced by the accumulated urge to lock in profits after a strong year.

The Crypto Market Sentiment Index is in neutral territory, compared to the shuttling between fear and extreme fear in US stocks.

Bitcoin is trading around $95.5K, receiving support near the 50-day moving average on Friday and Monday. While we expected to see the market decline here, it’s too early to say this is the end of the correction. Further declines in the stock market, of which there are many in Bitcoin and Ethereum, could trigger institutional investors, launching a deeper pullback.

Reduced holiday liquidity has the potential to amplify this amplitude. In a potential shock scenario, they see a dip into the $70K area. However, there are more chances that a pullback to $90K in the next couple of weeks will be attractive enough for buyers to stop the sell-off.

Crypto News
Matrixport expects that the first cryptocurrency could see a strong start in early 2025. Messari predicts that Bitcoin and real-world tokenised assets (RWAs) will be the focus of investor attention in 2025.

The average duration between Bitcoin’s first and last all-time high (ATH) in a cycle is 318 days, K33 Research noted. If the pattern repeats, the next global peak will be reached on 17 January, before the inauguration of US President-elect Donald Trump. Analysts noted an increase in coins available on the market to the highest since 2021 (22% of supply), driven by Mt. Gox proceeds and government sales.

The US SEC approved the first spot ETFs combining Bitcoin and Ethereum.

#ChristmasMarketAnalysis Analysis: Bitcoin's Holiday Performance Contradicts the "Christmas Heist" Hypothesis

ChainCatcher news, according to on-chain analyst Ai Yi's analysis, the performance of Bitcoin during the Christmas & New Year holidays over the past five years shows that from December 20 to January 6, Bitcoin's volatility is significantly larger, but the actual price fluctuation, except for the particularly severe year of 2020, remains within 10% in other years.

Moreover, in 80% of the years, the price performance of cryptocurrencies in the following two months is quite good. If the bottom-fishing time is narrowed down to one week after New Year's Day, the possibility of making a profit is still 60%.

Observing the performance of the Nasdaq index over the past five years, the fluctuations during the Christmas period are quite large; however, the overall price change is not significant. Therefore, it can be inferred that the U.S. stock market will not have a major negative impact on Bitcoin after the holidays.

In summary, although this bull market is significantly influenced by the inflow and outflow of BTC ETFs, the Nasdaq index did not show a noticeable decline during or after the Christmas period, which has little impact on cryptocurrencies. The price performance of Bitcoin itself is contrary to the speculation of the "Christmas massacre."#BinanceAlphaAlert

#ChristmasMarketAnalysis Bitcoin Futures Trading Strategies:

Range Trading: Capitalize on price fluctuations within the $92,000 to $98,000 range. Buy near support and sell near resistance.

Breakout Trading:
Upside Breakout: A convincing break above $98,020 could signal a move towards $102,000 or higher.

Downside Breakout: A break below $92,450 could lead to declines towards $91,720 and $90,170.
Technical Analysis Tips for Bitcoin Futures:

Patience is Key: Don't chase price movements. Wait for Bitcoin to reach key levels and observe market reaction before entering trades.

Volume Confirmation: Look for increased volume to confirm breakouts or reversals.

Risk Management: Always use stop-loss orders to limit potential losses.

The Holiday Season and Bitcoin:

Historically, Bitcoin has shown mixed behavior during the holiday season. While some years have seen a "Santa rally" with increased buying activity, others have experienced declines.

With Christmas Eve tomorrow, it's worth considering the potential impact of holiday trading on Bitcoin's price.

Reduced trading volume and increased volatility are possible, so traders should exercise caution and be prepared for unexpected price swings.

By understanding these key levels, employing sound technical analysis principles, and considering the potential impact of the holiday season, Bitcoin futures traders can gain a significant edge in this volatile market. Remember to manage your risk and trade responsibly.. Always trade bitcoin at your own risk only.

#ChristmasMarketAnalysis Bitcoin Technical Analysis for Christmas #ChristmasMarketAnalysis

Bitcoin's price action during the holiday season can be unpredictable, as past trends show.

Regardless of market direction, we provide you with expertly analyzed key price levels that our algorithm monitors for Bitcoin futures.

Think of this as your ultimate crypto holiday technical roadmap.$BTC

Ho, ho, ho, Bitcoin Technical Analysis: Key BTC Price Levels for Christmas
We Asked Santa to look at Bitcoin Futures

It's worth noting that Bitcoin's price movement during the Christmas season isn't consistently bullish. However, during bullish market cycles, the cryptocurrency often performs well in this period. On the other hand, bear markets have historically brought notable price declines for Bitcoin during the festive season.

According to data from Coinglass, Bitcoin saw a significant rally during Christmas week in previous halving years. For example, in 2020, Bitcoin surged by 25.63% during the 52nd week. Similarly, in 2016, it gained 11.25%, and in 2012, it recorded another impressive double-digit increase.

Bitcoin Futures: Current Trading Range and Key Levels

Bitcoin futures are currently confined within a well-defined range of $92,000 to $98,000. This range is critical because it's framed by key levels that have historically influenced price action. These levels act as potential turning points, where buying or selling pressure can lead to reversals or breakouts.

Critical Resistance Levels (Potential for Price to Stall or Reverse):

$97,350: A significant level where sellers may enter the market, potentially causing a price reversal.

$98,020: Close to $97,350, this strengthens the resistance zone. A decisive break above this confluence zone could signal further upward momentum.

$102,000: If Bitcoin breaks above $98,000, this level is likely to be the next major obstacle.

$105,070: In an extended uptrend, this level could attract profit-taking and potentially trigger a reversal.
Crucial Support Levels (Potential for Price to Hold or Bounce):

#ChristmasMarketAnalysis FED Makes Hawkish Statements: Institutional Investors First Sold, Then Turned to Bitcoin and Surprise Altcoins!

CoinShares reported $308 million in inflows into cryptocurrency products last week.

While the leading cryptocurrency Bitcoin (BTC) closed the week with its first loss since Donald Trump's victory, CoinShares published its weekly cryptocurrency report and said that there was an inflow of $ 308 million last week.

“Inflows into cryptocurrency investment products continued last week, totaling $308 million.”

Inflows Continued in Bitcoin and Some Altcoins!
When looking at crypto funds individually, it was seen that the fund inflows were in Bitcoin.

While BTC saw an inflow of $375 million, Ethereum (ETH) saw an inflow of $51.3 million.

There was also an inflow of $0.4 million in the Bitcoin Short fund, which was indexed to the fall of BTC.

When we look at other altcoins, XRP experienced an inflow of $8.8 million, Polkadot (DOT) $1.9 million, Litecoin (LTC) $0.6 million, Chainlink (LINK) $1.7 million, and Solana (SOL) experienced an outflow of $8.7 million.

“Bitcoin saw net weekly inflows of $375 million, despite outflows during the week.

The most dramatic flows came from multi-asset investment products, which saw outflows of $121 million last week.

While many altcoins like XRP ($8.8M), Horizen ($4.8M), and Polkadot ($1.9M) continue to see inflows, it suggests that investors are choosing to take a more selective approach.

While there was an inflow of $51 million into Ethereum, there was an outflow of $8.7 million in Solana.

When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 567 million dollars.

Brazil came in second after the United States with $16 million.

Against these inflows, Switzerland experienced an outflow of $95.1 million and Germany an outflow of $74.7 million.

#MicroStrategyInNasdaq100 Charles Hoskinson Talked About Bitcoin (BTC), Cardano (ADA) and XRP!

Cardano founder Charles Hoskinson spoke about Cardano, XRP, and Bitcoin.

Having made a major breakthrough in the recent rally, Cardano (ADA) continues to attract the market's attention.

At this point, while it is wondered whether ADA will continue its rally, popular analyst Ali Martinez said that there is $6 for Cardano.

At this point, the analyst noted that ADA is similar to the cycle in 2020, saying that he believes ADA could surpass its $3.09 ATH in 2021 and reach a new high of $6.

2025 Will Be the Year of Cardano (ADA)!
In addition, Cardano founder Charles Hoskinson claimed that Cardano has similarities with XRP and Bitcoin.

Speaking during a live broadcast, Hoskinson stated that Bitcoin, Cardano and XRP have a bright future, saying that the networks are strong and have overcome many obstacles and difficulties.

“XRP, Cardano and Bitcoin have a bright future.”
Stating that Bitcoin, Cardano and XRP have overcome obstacles and difficulties, Hoskinson emphasized that untested projects often collapse when faced with obstacles, and said that the best examples of this are Terra (LUNA) and FTX.

Charles Hoskinson also noted that Cardano could have more partnership opportunities than ever in 2025.

Hoskinson particularly highlighted the network’s recent partnership with Bitcoin smart contract and interoperability solution provider BitcoinOS.

Finally, Hoskinson emphasized that the network is determined to reveal itself in 2025 and added that Cardano will participate in leading crypto conferences such as Bitcoin 2025, Token 2049, Paris Blockchain Week and Consensus 2025.

“Cardano will move forward loud and proud in 2025.”

*This is not investment advice.

#MicroStrategyInNasdaq100 MicroStrategy Announces Weekly Bitcoin (BTC) Purchase, Price Drops!

Michael Saylor announced in his statement that the company purchased 5,262 BTC worth $561 billion.

MicroStrategy has made its weekly Bitcoin (BTC) purchase, purchasing 5,262 Bitcoins for $561 million in cash.

$BTC
MicroStrategy founder Michael Saylor announced in a statement that the company purchased 5,262 BTC worth $561 billion.

“MicroStrategy purchased 5,262 BTC for $561 million at a cost of approximately $106,662 and achieved a BTC return of 47.4% and 73.7% YTD.

As of 12/22/2024, we hold 444,262 BTC purchased at an average price of $62,257 for approximately 27.7 billion.

MicroStrategy has been announcing its new purchases every Monday in recent weeks. While the Bitcoin price reacted to these purchases, the BTC price fell after the purchase news and fell below $95,000.

#BinanceAlphaAlert $BTC
Market Sentiment Swings: Traders Shift Focus from Meme Coins to Bitcoin

Bitcoin’s social dominance rises as meme coin interest fades amid market volatility.

Liquidations spike during Bitcoin rallies, indicating over-leveraged market positions.
BTC’s RSI signals weak momentum, but MACD suggests potential stabilization.

Over the past two weeks, cryptocurrency market sentiment has changed sharply, with traders moving from bullish to bearish. This mood change has brought a significant correction in market caps, particularly among altcoins.

As interest in meme coins like Dogecoin wanes, Bitcoin is experiencing a resurgence in social dominance, suggesting a broader shift in focus back to the top cryptocurrency.

This period of heightened fear, uncertainty, and doubt (FUD) is a natural part of the market cycle. Savvy traders can use this “blood in the streets” environment to position themselves for potential future gains.

Bitcoin’s Social Dominance on the Rise: What it Means for the Market

Santiment data shows a clear trend in the social dominance of Bitcoin.

As Bitcoin’s price continues to capture trader attention, social conversations about the cryptocurrency have increased.

Bitcoin’s social dominance reflects …

The post Market Sentiment Swings: Traders Shift Focus from Meme Coins to Bitcoin appeared first on Coin Edition.

$BNB #MicroStrategyInNasdaq100 Is Litecoin (LTC) merge mining the new trend for tokens?

Litecoin (LTC) merge mining is turning into a tool for both security and exposure for new tokens. A small new family of assets is emerging, aiming to repeat the success of Dogecoin (DOGE).

Litecoin (LTC) merge mining is turning into both a security and a marketing tool for new tokens. A small batch of new assets are trying to ride on the fame of LTC and DOGE, while also gaining exposure from major mining pools. Binance Pool has announced the addition of three new assets to its merged mining program – LKY, PEP, and LKC.

Merge mining is the process of producing other coins and tokens in each block of a minable coin. The new production does not make mining more expensive, but creates a secure new asset at virtually no extra cost.

Every Litecoin block has produced DOGE for years, while ensuring cheap transactions on the Litecoin chain. In 2024, the network added BELLS, Luckycoin (LKY), Pepecoin (PEP), and Junkcoin (JKC).

Additional merged mining arrives at a time when the Litecoin hashrate marked new all-time highs. LTC mining was close to 1.8 PH/s, remaining a staple for some of the large pools. The Litecoin network retained its popularity, adding some stability to the LTC market price. After the latest market drawdown, LTC traded at $103.22, recovering some of its lost ground.

DOGE traded at $0.31 during the latest market drawdown. BELLS retained a level of $0.61. JKC traded around $0.22, while PEP retained the $0.0012 level. All the merged mining coins backtracked during the latest market correction. However, those assets also benefitted from the meme token frenzy.

Litecoin remains the fourth largest mined coin, which has retained its influence in the crypto space. Mining has expanded in 2024, as most corporate pools reinvested in the newest ASIC, increasing the capacity for competition and growing each network’s security. Litecoin mining followed the trend of Bitcoin with constant expansion to new all-time highs as new machines come online.
#BinanceLaunchpoolBIO

#BinanceLaunchpoolBIO DeSci sector sees trading volume growth
DeSci tokens as a whole remain closer to memes than to real scientific or biological projects. The entire collection of DeSci tokens is valued at around $600M, at one point only getting close to $1B.

Origin Trail (TRAC) remains the leading DeSci token, with a total cap of $341M. The two other more active tokens are Rifampicin (RIF) and Urolithin A (URO), which build up their market value based on demand for virtual experiments. The tokens proved resilient despite a recent hack on Pump.science.
#BinanceLaunchpoolBIO
$BNB
BIO is also a minor asset, with fewer than 1,500 holders, though the project has promised overly ambitious reach. Bio Protocol itself will tap the demand for creating new DeSci tokens, by supporting a launchpad for new DeSci DAO projects. Bio Protocol already hosts DAOs attempting to build longevity, mental health, and bioengineering products. The protocol estimates around $40M in tokenized value based on biotechnological ideas.

To this moment, Bio Protocol has carried a total of eight DeSci projects through its platform. The hub also advertises platforms and serves as a marketing and fundraising tool. Bio Protocol may turn into one of the leading fee producers in the Ethereum ecosystem. The biggest issue with citizen science remains the potential quality of the projects and the ability to deliver results.

The BIO token, once it achieves sufficient liquidity, will serve as a governance asset to approve the launch of new DAO and DeSci startups. Holders will also receive priority approval for investing in those startups.

#BinanceLaunchpoolBIO DeSci tokens get a volume boost after Binance Launchpool adds Bio Protocol (BIO)

Bnb

Binance has added to the emerging DeSci hype after it added one of the sector’s projects to its launchpool. As a result, trading volumes for DeSci tokens have grown by more than 31%.

Binance made another statement about its DeSci focus by adding Bio Protocol (BIO) to Binance Launchpool. The DeSci project is the 63rd selection for the launchpool, allowing users to mine rewards after depositing BNB and FDUSD.

Binance Launchpool remains a tool for passive income, in addition to signaling Binance’s interest in coins and tokens.

$BIO is listing on Binance January 3rd!

Let liquid science flow

Bringing DeSci to 100m+ users on the most liquid crypto venue on the planet https://t.co/JxRYGAt9pm pic.twitter.com/KxXKVpd2S5

— BIO Protocol (@bioprotocol) December 23, 2024

Binance will start trading BIO on January 3, 2025. Before that, the exchange will have a 10-day farming period, starting from December 24. BIO farmers will have to lock up their BNB and FDUSD to receive airdrops for the launchpool period. After that, BIO will begin trading with a ‘Seed’ tag for potentially higher risk.

The pool will distribute 99.6M BIO or 3% of the total supply. To avoid unfair allocations to whales, Binance will also introduce hourly caps to BIO received. 85M BIO will be airdropped to stakers with BNB in their wallets, while the remaining 14.9% will go toward FDUSD holders.

BIO tokens have a distribution that will favor early backers and investors. A community auction will distribute 20% of the BIO supply, with another 25% set aside for ecosystem incentives. Early investors will control 13.6% of the tokens. The total supply of 3.2B tokens will unlock over six years, with a one-year cliff unlock.

Binance has expressed its interest in DeSci despite the sector’s relatively underdeveloped status. Binance’s former CEO Changpeng “CZ” Zhao and Ethereum’s Vitalik Buterin have expressed interest in DeSci events.

#BinanceAlphaAlert How Markets Are Reacting to BTC ETF Options Launch

A range of option strategies, from covered calls to protective puts, are available for a variety of Bitcoin-tracking funds

In January, cryptocurrency enthusiasts hailed a milestone event when the Security and Exchange Commission (SEC) approved the purchase and sale of spot Bitcoin exchange traded funds (ETFs). With that, it was only a matter of time before U.S. regulators would permit the trade of derivatives of those funds.

And so, it came to pass: in November, market participants were able to trade options on spot Bitcoin ETFs from the likes of BlackRock, Fidelity, and ARK Invest. Thus, a range of option strategies from covered calls to protective puts were suddenly available for a variety of Bitcoin-tracking funds.

Binance CEO Richard Teng commented on the effects of options trading on crypto markets, “Options trading is poised to enhance liquidity in the crypto ecosystem by providing investors with additional tools for hedging and speculation. Institutional players, who often seek sophisticated risk-management instruments, may find options particularly appealing. By offering new mechanisms to manage exposure, options trading could attract long-term capital, increasing market stability and broadening participation beyond retail investors.”

It’s exciting, sometimes useful to have more trading options, but this doesn’t guarantee a successful outcome or even a positive initial response from the markets. As it turns out, however, these newly available derivatives are largely a welcome addition to the arsenal of today’s sophisticated Bitcoin and Bitcoin-adjacent traders.

Starting Off with a Bang
The ability to trade Bitcoin itself on exchanges such as Binance, and then ETFs tracking Bitcoin’s price moves, represented important steps toward cryptocurrency adoption for both retail investors and institutions. This, though, begged the question of whether traders would line up to give the associated options a try.

#BTCNextMove More Pain Likely, Market Expert Says After Bitcoin's Biggest Loss Since August

BTC may remain on the defensive for some time, presenting a "buy the dip" opportunity to investors, according to Bitwise's Andre Dragosch.

What to know: $BTC
We will likely see more pain in the coming weeks as the Fed is stuck between a rock and a hard place, Andre Dragosch, director and head of research Europe at Bitwise.
Ongoing tailwinds from BTC's supply deficit means extended price dips could be buying opportunities, Dragosch added.
Bitwise's Europe head of research, who has been accurately bullish on bitcoin (BTC) for months, has turned cautious after last week's 8% dip, warning of deeper losses in the coming weeks.

Bitcoin, the leading cryptocurrency by market value, fell 8.8% to nearly $95,000 last week, the biggest percentage drop since August, according to data source TradingView and CoinDesk Indices. The losses came as the Federal Reserve signaled fewer rate cuts for next year while stressing that it prohibited from holding BTC and doesn't seek a change in the law to do so.

The so-called hawkish rate projections also roiled sentiment in traditional markets, leading to a 2% drop in the S&P 500 and a 0.8% gain in the dollar index, lifting it to the highest since October 2022. The yield on the 10-year Treasury note, the so-called risk-free rate, rose 14 basis points, breaking out bullishly from a technical pattern.

The risk-off mood may persist for some time, according to Andre Dragosch, director and head of research Europe at Bitwise.

"The big macro picture is that the Fed is stuck between a rock and a hard place as financial conditions have continued to tighten despite 3 consecutive rate cuts since September. Meanwhile, real-time measures of consumer price inflation have re-accelerated over the past months to new highs as well judging by truflation‘s indicator for U.S. inflation," Dragosch told CoinDesk.

Dragosch is one of the few observers who correctly predicted a massive BTC price rally in late July when the sentiment was hardly bullish.

#BTCOutlook BTC Price Forecast: Can ETF Demand Push Bitcoin Beyond $100K?

Key Points:
BTC closes below $98K as Fed's rate cut, rate path outlook, and ETF outflows pressure demand.
BlackRock’s IBIT anchors BTC ETF inflows, but net outflows on Friday signal investor caution amid Fed rate concerns.
Bitcoin price outlook tied to ETF flows, Fed signals, and potential SBR progress, with $120K highs in sight.

BTC Hovers Below $98k After the Bruising Fed Projections
On Saturday, December 21, BTC declined by 0.63%, reversing Friday’s 0.43% gain to close at $97,505. BTC fell short of $100k for the second successive session, reflecting investor caution.

ETF Inflows Support Market Sentiment but Raise Questions
The US BTC-spot ETF market extended its inflow streak to three weeks in the week ending December 20, with net inflows of $457 million. However, back-to-back daily outflows weighed on BTC demand as investors reacted to Wednesday’s Fed rate cut and projections.

According to Farside Investors:

iShares Bitcoin Trust (IBIT) reported net inflows of $1,447 million in the week ending December 20.
However, Fidelity Wise Origin Bitcoin Fund (FBTC) saw net outflows of $293.
Grayscale Bitcoin Trust (GBTC) had net outflows of $248 million.
Grayscale Bitcoin Mini Trust (BTC) and ARK 21Shares Bitcoin ETF (ARKB) also registered sizeable outflows.
While BlackRock’s (BLK) IBIT remains a market anchor, Friday’s outflows, the first since November 6, caused concern.

On Wednesday, the Fed cut rates but signaled fewer than-expected 2025 rate cuts, impacting demand for riskier assets, including crypto.

Will US Crypto-Spot ETF Launches Boost BTC Demand?
On Friday, the SEC approved BTC/ETH-hybrid-spot ETFs, introducing products with an 80-20 weighting between BTC and ETH. ETF Store President Nate Geraci announced the approval, saying,

“SEC has *approved* both the Hashdex Nasdaq Crypto Index US ETF & Franklin Crypto Index ETF… Will initially hold both BTC & ETH.”

“Will be interesting to see if BlackRock or others attempt to piggyback on this & launch similar ETFs...

#CorePCESignalsShift Tether Takes $775M Stake in Video-Sharing Platform Rumble; RUM Shares Soar 41%

Tether CEO Paolo Ardoino (Bitfinex)
YouTube competitor Rumble (RUM) is in a deal for a $775 million strategic investment from stablecoin giant Tether.

Rumble will use $250 million of the money to support operations and the remainder to fund a tender offer for up to 70 million shares of its common stock at a price of $7.50, according to a Friday evening press release. That $7.50 is the same price per share Tether is paying for its stake.

"I truly believe Tether is the perfect partner that can put a rocket pack on the back of Rumble as we prepare for our next phase of growth," said Rumble CEO Chris Pavlovski.

"Legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative," said Tether CEO Paolo Ardoino. "Beyond our initial shareholder stake, Tether intends to drive towards a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble."

RUM shares have rocketed higher by 41% in after hours action to $10.13.

It is not known if any of the proceeds will be used to put bitcoin (BTC) on the Rumble balance sheet. Pavlovski in November had teased an interest in his company possibly buying bitcoin.#BTCNextMove

#BinanceAlphaAlert Aptos Labs CEO Mo Shaikh Quits; Avery Ching to Take His Place

The Aptos co-founder is sticking around as a strategic adviser, though.

Mo Shaikh, co-founder of Aptos Labs, announced that he's stepping down as CEO of the company.

Aptos is a layer-1 blockchain that claims to offer enhanced scalability, security and transaction speeds. The platform leverages a unique blockchain programming language called Move, which was originally created for Facebook’s shuttered "Diem" project.

In a lengthy post on X, Shaikh, who co-founded Aptos with Avery Ching three years ago, expressed pride in the progress made by the company, which included raising a mammoth $400 million in venture capital funding and building "one of the most robust ecosystems, trusted by over a thousand builders and innovators around the globe."
$BTC
Ching, Shaikh said, will assume the role of CEO and lead the company into its next phase of growth.

In his X post, Shaikh acknowledged the work of Aptos' partners and investors, including firms like BlackRock, Google, Mastercard and PayPal.

"None of this would have been possible without the unwavering support of our incredible investors. I want to extend my deepest gratitude to Dragonfly, Blocktower, Haun Ventures, Hashed, IRONGREY, a16z, Apollo, Coinbase, Parafi, Scribble, PayPal, Franklin Templeton, and the amazing angels who believed in our vision," he wrote.

Shaikh said he will remain with the company as a strategic adviser and plans to take time to reflect on the future of blockchain and financial systems. "I will always remain a champion of Aptos and its mission," he wrote, adding that he will "look forward to continuing to help Aptos maintain its role as the world's leading blockchain."

#WeAreAllSatoshi Hong Kong makes HKVAX third licensed retail crypto exchange

HKVAX  is the first to be licensed under the region’s new licensing regime, as 16 more exchanges wait.

The Hong Kong Virtual Asset Exchange (HKVAX) has become the third cryptocurrency exchange to receive licensing from the Special Administrative Region’s Securities and Futures Commission (SFC) to serve retail customers. It is the third exchange to receive full licensing in Hong Kong.

HKVAX received Type 1 (dealing in securities) and Type 7 (providing automated trading services) virtual asset trading platform (VATP) licenses, as well as an Anti-Money Laundering and Counter-Terrorist Financing license to operate a virtual asset trading platform.

HKVAX is among a select few #BTCUptober

HKVAX’s core service offerings are over-the-counter trading, a trading platform and comprehensive, insured custody. In addition, it specializes in security token offerings (STO) and real-world asset (RWA) tokenization. HKVAX co-founder and CEO Anthony Ng said in a statement: 

"We're part of a financial landscape revolution, aiming to establish Hong Kong as the STO and RWA center for Asia and beyond." 

However, HKVAX cautioned on its website, “Our trading platform and onboarding system are undergoing final preparations.”

Cryptocurrency exchanges OSL and HashKey received licenses in 2020 and 2022, respectively, under an old opt-in system. Retail crypto trading began in Hong Kong in August 2023.

HKVAX received in-principle approval from the SFC in August 2023 and is the first exchange to be licensed under the current licensing regime. Exchanges seeking licenses had until Feb. 29 to file an application and were otherwise closed.

Sixteen companies are awaiting a decision on their VATP applications, 11 of which are already operating as “deemed to licensed,” even though the SFC posts a warning on its website discouraging people from doing business with them.

#BTCUptober Bitcoin decentralization is a matter of national security — Auradine CEO

According to CryptoQuant, the current Bitcoin network difficulty is 88.4 trillion — down from the 92 trillion recorded on Sept. 20, 2024.

Maximizing#U.S.UnemploymentNewLow

Bitcoin BTC$62,171.24 decentralization throughout the entirety of the stack is a matter of national security, Rajiv Khemani, co-founder and CEO of mining chip manufacturer Auradine, told Cointelegraph.

The CEO explained that third-party firmware — which updates and changes over time — could theoretically be used to compromise the energy grid or launch a 51% attack on the Bitcoin network. $BTC

Auradine’s CEO outlined a potential situation where malicious code embedded within this firmware could shut down mining operations within a certain geography. This could cause a drop in hashrate and network difficulty, making a 51% attack easier to execute.
$ETH
Khemani stressed the need for caution when evaluating hardware and software from foreign entities:  "Anytime you have hardware, software, and firmware from a foreign entity connected to your energy infrastructure — which is what Bitcoin has essentially become — you have to make sure that you are doing the proper due diligence and risk mitigation.

"Another attack vector is supply-chain risk, the CEO said during the interview.

If highly specialized mining hardware like application-specific integrated circuits (ASICs) are overwhelmingly manufactured in a single jurisdiction then that country can restrict the export of those products at any time — leaving miners without access to the crucial technology.“

There’s not many ways to spy or steal coins” though mining hardware, the Auradine executive said, dispelling an earlier claim made by US Senator Elizabeth Warren that foreign crypto miners could spy on US military bases.

The reason for this is that mining hardware does not feature robust memory or surveillance capabilities, the CEO told Cointelegraph.#WeAreAllSatoshi

US jobs report signals fewer rate cuts, still bullish for BTC: Grayscale #U.S.UnemploymentNewLow

The bullish jobs report adds fuel to hopes for an “Uptober” and fourth-quarter rally in Bitcoin’s price.

The strong United States September jobs report signals a possible slowdown in interest rate cuts but is still bullish for Bitcoin BTC$62,117.06 as investors warm to riskier assets, Zach Pandl, Grayscale’s head of research, told Cointelegraph.

“Conversation about Fed rate cuts and debate about larger government deficits continue alongside solid economic growth, which should be net-positive for investors’ risk appetite and may reintroduce inflation risk in the medium-term,” Pandl said. $BTC

“Grayscale Research expects Bitcoin to benefit in this risk-positive environment,” he explained.  
The US economy gained approximately 254,000 jobs in September, far ahead of economists’ expectation of some 140,000 new jobs, according to the US Bureau of Labor Statistics (BLS). 

Spot BTC prices moved to an intraday high of more than $62,300 on Oct. 4 following the stronger-than-expected jobs data.

On Sept. 18, the Federal Reserve cut the federal funds rate by 0.5% after a slowdown in inflation and sluggish economic performance in August. 

In August, the BLS printed job additions of less than 160,000 and annualized inflation rates of less than 3%. 

Futures market pricing currently reflects expectations of no more than a quarter of a percent interest rate cut at the Fed’s next meeting in November, according to CME FedWatch. Rates are currently targeted at around 4.75%.

The bullish jobs report and rate cut expectations are contributing to the idea of an “Uptober,” or a fourth-quarter rally for Bitcoin. $BTC

Another possible driver is the continued decline in BTC held on centralized exchanges.

Data from CryptoQuant suggests there are over 2.8 million BTC in total on centralized exchanges, the lowest number since November 2018 and 500,000 less than the amount seen in March.#BTCUptober