According to Foresight News, CryptoQuant reports that during the current bull market cycle, Bitcoin's profit supply has remained above 80% for most of the time. Reflecting on past cycles, Bitcoin's profit supply has generally stayed above this threshold. Although there have been brief periods during the recent summer when this metric dipped below 80%, these moments often presented buying opportunities. This phenomenon suggests that despite recent market adjustments, Bitcoin holders are largely still in a profitable position, which could support the market's future trajectory.

According to Odaily, Matrixport has released a chart indicating that despite Bitcoin's inherent volatility, its funding rates have returned to nearly zero. This suggests that even with the recent rebound in Bitcoin prices, long positions in the futures trading market are not heavily leveraged. This scenario provides traders with an opportunity to increase long positions, potentially driving prices higher. However, the low funding rates also imply that the recent price increase may be driven by spot buying, which is typically more strategic and long-term compared to speculative futures trading. Overall, this is a positive signal, indicating that the market is not overly leveraged and there is potential for further price increases in the future.

According to Cointelegraph, Bitcoin’s price is anticipated to benefit from the upcoming United States presidential election, regardless of the outcome, as per CK Zheng, chief investment officer of ZX Squared Capital. Zheng highlighted that both Republican and Democratic parties have not adequately addressed the increasing US debts and deficits, which could be favorable for Bitcoin, especially after the election. Historically, Bitcoin has seen significant gains in the fourth quarter, particularly during years with Bitcoin halving events. CoinGlass data indicates that Bitcoin has rallied more than 50% six times since 2013 in the fourth quarter. The last halving event in 2020 saw Bitcoin surge 168% in the fourth quarter, coinciding with the US presidential election that year. Zheng expects Bitcoin to reach a new all-time high in Q4 or shortly thereafter. Samantha Yap, CEO and founder of Web3 PR firm YAP, noted that the retail interest surge across the crypto industry following Bitcoin rallies is often more significant than the price increases themselves. Media attention typically follows retail interest, creating a media frenzy. Yap hopes that during these moments, more usable and accessible applications will be available for newcomers to adopt. Zheng also mentioned that the Federal Reserve’s aggressive 50 basis point interest rate cut could be bullish for Bitcoin and other risk-on assets if the US economy achieves a soft landing. Central banks aim to prevent the economy from overheating and experiencing high inflation without causing a downturn. If successful, Zheng expects Bitcoin’s price to correlate closely with the NASDAQ. Currently, Bitcoin is trading at $64,400, down 2% over the last 24 hours.

According to Foresight News, Bitcoin mining pool OCEAN has introduced a decentralized mining protocol named DATUM. This protocol aims to restore miners' control over block template construction, ensuring the Bitcoin network remains secure, decentralized, and resistant to financial censorship and other centralized threats. OCEAN is operated by Bitcoin Ocean, a subsidiary of the decentralized Bitcoin mining project Mummolin. In November 2023, Mummolin completed a $6.2 million seed funding round, led by former Twitter CEO Jack Dorsey.

On Sep 30, 2024, 01:48 AM(UTC). According to Binance Market Data, Bitcoin has dropped below 65,000 USDT and is now trading at 64,915.988281 USDT, with a narrowed 1.37% decrease in 24 hours.

According to Odaily, recent data from Polymarket indicates a 60% probability that Bitcoin (BTC) will achieve a new all-time high in 2024. The total amount wagered on this prediction is approximately $140,000.

On Sep 29, 2024, 20:04 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 66,000 USDT benchmark and is now trading at 66,050.867188 USDT, with a narrowed 0.46% increase in 24 hours.

According to Cointelegraph: Spot Bitcoin exchange-traded funds (ETFs) based in the United States have experienced their largest inflows since mid-July, with over $1.1 billion recorded in the week starting September 23. Leading the charge were Bitcoin products from BlackRock, ARK 21Shares, and Fidelity, which saw inflows of $499 million, $289.5 million, and $206.1 million, respectively, according to Farside Investors.The week's peak was reached on September 27, when spot Bitcoin ETFs recorded $494.4 million in inflows, the best-performing day since June 4. In addition, spot Bitcoin ETFs registered $366 million in inflows on September 26.US spot Bitcoin ETF flows between Sept. 23–27. Source: Farside InvestorsWhile BlackRock, ARK 21Shares, and Fidelity led the way, other Bitcoin ETFs from Invesco, Galaxy, Franklin Templeton, Valkyrie, and VanEck also saw inflows ranging between $5.7 million and $33.3 million. However, WisdomTree's Bitcoin Fund did not report any inflows during the period. Since their launch in January, the cumulative inflows for all 11 spot Bitcoin ETFs have now reached $18.8 billion.In addition to Bitcoin ETFs, US spot Ether ETFs also had a strong week, with $85 million in inflows—marking their largest inflows since August 5-9. Since their launch on July 23, Ethereum ETFs have accumulated a little over $1.1 billion, which factors in $2.9 billion in outflows from the Grayscale Ethereum Trust.The increase in Bitcoin ETF inflows came after the US Federal Reserve's interest rate cut on September 18, which has positively impacted the cryptocurrency market. Since then, Bitcoin has rallied 13.8%, reaching $65,800, according to CoinGecko data. The cryptocurrency now stands just 10.8% below its all-time high of $73,738, which was set on March 14.As the fourth quarter approaches, historical data from CoinGlass indicates that Bitcoin has seen gains of 50% or more in the fourth quarter of five out of the last nine years, highlighting a potential bullish trend.

According to Cointelegraph: Lou Jiwei, former Chinese finance minister, has emphasized the need for China to closely monitor cryptocurrency developments, especially following the recent policy shift in the United States regarding Bitcoin exchange-traded funds (ETFs). Speaking at the 2024 Tsinghua Wudaokou Chief Economists Forum in Beijing, Lou stressed the importance of assessing both the risks and opportunities posed by cryptocurrencies, as reported by Sina Finance.Lou highlighted the potential threats of cryptocurrencies to financial stability, including their volatility and association with money laundering. He also drew attention to the U.S. Securities and Exchange Commission's approval of spot Bitcoin ETFs, which signals a shift in the U.S. regulatory stance toward cryptocurrencies.The former minister warned of the risks that digital currencies pose to global markets, particularly in terms of financial instability due to extreme price fluctuations. He also expressed concerns over the role of cryptocurrencies in anti-money laundering (AML) and anti-terrorism financing.Lou urged Chinese policymakers to pay close attention to these international policy changes, stressing the importance of understanding the evolving global landscape. He noted, “We also need to study the latest international changes and policy adjustments because they are crucial for the development of the digital economy.”Despite China’s ban on Bitcoin mining and trading since 2021, the country still controls over 55% of the global Bitcoin mining network through mining pools. However, this dominance is shifting, with U.S. mining firms now managing around 40% of Bitcoin mining operations, primarily catering to institutional miners, according to CryptoQuant CEO Ki Young Ju.

The global crypto market cap is $2.3T, a 0.04% increase over the last day, according to CoinMarketCap data.Bitcoin (BTC) traded between $65,422 and $65,984 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $65,602, up by 0.13%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include ARK, FTT, and ORN, up by 18%, 16%, and 15%, respectively.Top stories of the day:Fed Rate Cut Expected to Impact Stablecoin Revenue SEC Approves Nasdaq Bitcoin ETF Options Pending Further Approvals  U.S. Bitcoin ETFs Record $1.1 Billion Inflows This Week, Highest Since Mid-JulyMichael Saylor: 99% of Bitcoin to be Mined by 2035Bitwise CIO Predicts Stablecoin Market to Reach $1 Trillion by 2026Remixpoint Invests $5.27 Million in Cryptocurrency to Diversify AssetsBolivia Sees Surge in Crypto Transactions Following New RegulationsBitcoin Viewed As Trust Anchor by Casa Co-FounderBlackRock's iShares Ethereum ETF Reaches $1 Billion in AssetsKey U.S. Economic Events to Watch Next WeekMarket movers:ETH: $2647.63 (-0.61%)BNB: $596.8 (-0.30%)SOL: $156.32 (-0.03%)XRP: $0.6252 (+3.91%)DOGE: $0.12661 (+4.15%)TON: $5.79 (-1.80%)ADA: $0.3969 (+0.23%)TRX: $0.1557 (+0.97%)AVAX: $28.78 (-1.67%)SHIB: $0.0000196 (+0.93%)Top gainers on Binance:ARK/USDT (+18%)FTT/USDT (+16%)ORN/USDT (+15%)

According to a recent report from on-chain analytics firm Santiment, bullish sentiment among Bitcoin traders has seen a sharp increase following a 22% surge in Bitcoin's price over the past three weeks. Traders are showing renewed optimism, with many anticipating Bitcoin's price to reach the $70,000 mark soon.

According to Odaily, MN Trading founder Michaël van de Poppe shared on X that after spending two weeks in Dubai, Singapore, and Thailand, he is now on a flight back to Amsterdam. He noted that the market has completely reversed, with Bitcoin and DeFi showing bullish trends. The first green week has appeared, but he emphasized that this is insignificant compared to what is expected in the next 12-18 months.

According to PANews, BoostVC, Draper Associates, and Thesis have introduced the BitcoinFi Accelerator Program aimed at driving the next wave of innovation in the Bitcoin ecosystem. The initiative invites applications across three core areas: infrastructure, DeFi, and SocialFi. Participants will receive an initial funding of $150,000 in exchange for 5% equity and will have the opportunity to secure further investments from a network of investors. The application process for the accelerator is currently open, with a deadline set for October 23. Following the application period, there will be two selection phases, culminating in the announcement of the final winners on November 1. The first batch of courses is scheduled to commence on November 4 and will run until December 13.

According to Odaily, Bitcoin spot ETFs have increased their holdings by 17,009 BTC this week. During the same period, miners produced only 2,250 BTC, indicating a significant supply shortage in the market.

According to Odaily, Santiment recently posted on X, suggesting that investors waiting for Bitcoin to reach new historical highs might need to lower their expectations. Currently, the ratio of bearish to bullish posts on social media stands at 1:1.8. Historically, the market often moves contrary to public expectations.

According to Odaily, data from Bitcoin Magazine Pro reveals that nearly 94% of Bitcoin addresses are currently in a profitable state.

According to Odaily, monitoring data from Lookonchain reveals that BlackRock has increased its Bitcoin holdings by 1,684 BTC, valued at approximately $110.7 million. Over the past four days, BlackRock's IBIT has added 7,578 BTC, worth around $497.6 million, bringing its total holdings to 365,310 BTC, valued at $24.04 billion.

According to Odaily, a dormant Bitcoin address containing 150 BTC, valued at approximately $9,831,428, has been activated after 10.5 years. The activation was detected by Whale Alert, a service that monitors large cryptocurrency transactions.

According to PANews, Jameson Lopp, co-founder of Bitcoin custody company Casa, shared his perspective on Bitcoin via the X platform on September 28. Lopp emphasized that Bitcoin transcends its common perception as merely digital gold or electronic currency. He described Bitcoin as a 'trust anchor,' suggesting that it serves as a foundational element upon which numerous rule-based, verifiable systems can be constructed.