Should have bought: Bitcoin above $68,000, greed returns to the market and ânew whalesâ
CryptoQuant experts have noted the growing number and activity of ânew institutional investors.â
âWe are seeing unprecedented buying pressure from a new wave of accumulation. New whales are buying Bitcoin, pushing the price up. They currently hold 1.97 million BTC. It is important to note that this is not just a result of spot Bitcoin ETF activity, as other major players are also involved,â said analyst J.A. Maartunn.
SEC Approves Spot Bitcoin ETF Options Trading on NYSE and CBOE
The US Securities and Exchange Commission (SEC) has approved trading in exchange-traded fund options based on the spot price of the first cryptocurrency on the NYSE and CBOE.
Media: Former WEX CEO Dmitry Vasiliev detained in Poland
Former owner of the WEX cryptocurrency exchange Dmitry Vasiliev was detained in Warsaw, Poland. This was reported by Exved CEO Sergey Mendeleev on his Telegram channel.
"Dima was arrested by Interpol in Warsaw on a US warrant in connection with charges of helping to evade anti-Russian sanctions. The extradition process has been launched," he wrote.
Matrixport Links Bitcoin Growth Above $70,000 to Donald Trump's Victory
Matrixport analysts acknowledged their February forecast of Bitcoin reaching $70,000 by the end of the year as âtoo conservative.â The price could break through this mark amid the US elections.
The company recalled the accuracy of previous estimates. In October 2022, the company's specialists predicted a rally in the first cryptocurrency with an exit to $63,000 by halving. The deviation from the target value was 1%.
Max Keiser predicts Bitcoin will rise to $220,000 "soon"
The expert referred to gold prices reaching a new historical maximum above $2700.
The previous ATH for the precious metal was recorded in 2020, when the world faced a pandemic that required the world's leading central banks to cut interest rates and launch quantitative easing programs.
Arthur Hayes predicts Bitcoin pump in case of escalation around Iran
If tensions between Iran and Israel escalate, Bitcoin should be expected to rise following a jump in oil prices, according to former BitMEX CEO Arthur Hayes in a new essay.
The scenario is possible in the event of an attack on large hydrocarbon deposits in an Islamic country.
According to the entrepreneur, mining profitability is regulated by changing the difficulty, but it decreases when the hash rate drops, âwhich makes it easier for new participants to mine at higher electricity costs.â
Kazakhstan banks will be prohibited from transferring money to foreign crypto exchanges
The ARRFR of Kazakhstan is going to prohibit banks from processing payments to crypto exchanges that are not members of the AIFC. This is stated in the regulator's resolution.
The restrictions will affect transactions in favor of electronic and online casinos. Operators will not be able to accept transfers from persons under 21 years of age, according to the document "On Amendments to Certain Regulatory Legal Acts of the Republic of Kazakhstan on the Regulation of Financial Organizations."
The digital asset market has reached âsignificant maturityâ in 2024, with trading volumes and on-chain activity growing, as well as billions of dollars flowing into crypto ETFs, according to a report from Coinbase and Glassnode.
Experts noted the acceleration of the popularization of stablecoins and L2 for the second largest cryptocurrency by capitalization.
As of the end of Q3 2024, USDT stablecoin is used by 330 million cryptocurrency wallets and on-chain accounts, its issuer Tether reported.
The company compared the figure with the US population and emphasized that the final result does not include USDT users on centralized bitcoin exchanges. Tether estimates the latter at several tens of millions more.
Bernstein Links Bitcoin Rally to Increased Chances of Trump Victory
The jump in the price of Bitcoin is due to the increased chances of Republican representative Donald Trump to win the presidential seat, Bernstein has concluded, The Block writes.
Experts have drawn attention to the high correlation between the first cryptocurrency and the former head of the White House's likelihood of defeating his Democratic rival Kamala Harris.
Justin Sun and his team. How TRON became the main competitor of Ethereum
The TRON (TRX) project started as a token issued on Ethereum, after which it moved to its own blockchain. As part of the ICO in 2017, the TRON Foundation raised 15,200 bitcoins by selling 40 billion TRX at a price of 0.00000038 BTC.
From the very beginning, the project followed the popular narratives of the time, positioning itself as an âEthereum killerâ but based on its code base. It got to the point where Vitalik Buterin publicly accused TRON founder Justin Sun of plagiarism.
SUI Insiders Accused of Selling $400 Million in Coins
The Sui Foundation, the organization behind the SUI cryptocurrency, has denied that insiders, company employees, or Mysten Labs sold $400 million worth of the coins during the recent price surge. âNot a single insider, neither the fundâs employees, nor Mysten Labs (including the founders), nor ML investors sold $400 million worth of tokens during this period, either individually or collectively. Insiders did not engage in any pre-emptive selling or violation of the lockup and circulating supply rules,â the statement reads.
Trump Family Crypto Project Raises $5M in First Hour of Presale
Donald Trump-backed crypto project World Liberty Financial has raised $5 million in a token sale, 1.7% of its target.
Observers noted glitches on the project's website due to the influx of participants.
At the time of writing, ~$4 million worth of Ethereum, ~$1.2 million worth of USDT, and ~$0.25 million worth of USDC have been transferred to the World Liberty Financial wallet.
Bitcoin Surges $64,000 Amid China Stimulus Expectations
On the morning of October 14, the rate of the first cryptocurrency exceeded the $64,000 mark. The reason was the positive dynamics of Asian stock markets due to expectations of the expansion of stimulus measures by the Chinese authorities.
At the time of writing, Bitcoin is trading at $64,100, up 2.1% in the last 24 hours. Ethereum ($2,520) is up 2.6% in the past 24 hours.
HTX Distributes Over 10 Million USDT to Celebrate Exchange's 11th Anniversary
In August 2024, the HTX cryptocurrency exchange launched the âThrough Trials to Triumphâ campaign dedicated to the 11th anniversary of the platform. During the festivities, it distributed prizes worth over 10 million USDT among 300,000 users. This was reported in a press release.
Week in Review: Bitcoin Volatility and HBO's Satoshi
US inflation exceeds expectations, HBO's Bitcoin creator Peter Todd denies claim, Crypto.com files lawsuit against SEC in response to Wells' notice, and other events of the past week.
Bitcoin Price Tests $63,000 The first cryptocurrency started the week with growth to $64,000, after which it went into correction and on Thursday, October 10, it failed the psychological threshold of $60,000. Having recovered, digital gold tested the $63,000 mark.
Former FTX Executive Ryan Salameh Arrives at Prison to Serving Sentence
Former head of the Bahamas branch of the cryptocurrency exchange FTX Ryan Salame arrived at the federal prison in Cumberland (Maryland, USA) to serve his sentence, The Block reports.
The former top manager had previously joked that he was in for an âexciting week,â adding that he hadnât âmade friends at campâ in 20 years. Salameh expects his hacking skills to come in handy.
In October, Buterin sold 10 billion MOODENG meme tokens for 308.7 ETH (~$765,576 at the exchange rate at that time) and transferred 260.15 ETH to charity. Perhaps the proceeds from the sale of the remaining coins will go to the same goals.
Earlier, he donated 100 ETH (~$242,000) to the legal defense fund for Tornado Cash developers Alexey Pertsev and Roman Storm.
Recall that in October, economist Tyler Cowen proposed giving Buterin the Nobel Prize in this scientific discipline. #newscrypto #ETHđ„đ„đ„đ„ $ETH