Changpeng Zhao, widely known as CZ, marked his return to social media on September 27 after serving a four-month sentence for failing to maintain an effective Anti-Money Laundering (AML) program at Binance. His brief tweet coincided with a notable uptick in cryptocurrency prices, particularly Bitcoin and #BNB , according to data from CoinMarketCap.
#Bitcoin , the leading cryptocurrency by market capitalization, saw its value climb to $65,000, representing a 3.2% increase over the past 24 hours. Concurrently, Binance’s native token, BNB, experienced a similar surge, rising 3.1% to reach $610. This coordinated price movement underscores the continued influence of key industry figures on market sentiment.
Analysts from 10x Research predict a strong bull rally in Q4 2024, citing Bitcoin’s recent surge above the $65K level, and the increased attention to altcoin speculation. According to Capriole Investment’s Altcoin Speculation Index, the past month has seen a 13% uptick, with Sei, Wormhole, and Shiba Inu leading gains. Potential Federal Reserve rate cuts could further fuel interest in high-beta altcoins, with several analysts anticipating significant growth in the altcoin market over the coming months.