If historical market cycle patterns repeat, a significant final sell-off of altcoins may be imminent. A crypto trader, predicting what could be the ultimate "altcoin reckoning," warns that altcoins may experience further pain before seeing any substantial gains.
"It seems we’re finally seeing the major final showdown for altcoins," said ITC Crypto founder Benjamin Cowen in a post on X on November 4.
Cowen added that the reckoning should conclude by December or by the second week of January 2025 at the latest. "It’s been a long journey, and many have given up, but this process has always been part of the cycle," he said.
Prediction Based on Historical Market Patterns
The forecast is grounded in a significant flush-out of altcoin markets during the bear market of 2019. Currently, the altcoin market capitalization chart is showing a similar pattern.
Altcoins gradually recovered in 2020 before reaching new highs in 2021. According to Cowen, a similar scenario could unfold in 2025.

In a separate post on X, he mentioned that altcoin/Bitcoin pairs have been bleeding for three years in a row, adding that the last two "altseasons" occurred in the years following the halvings of 2017 and 2021.
Anticipation for a New Altseason and Market Movements
Trader "ardizor" made a similar prediction in a post on November 4, stating that altseason patterns from 2017 and 2021 seem to be happening again after three years.
Meanwhile, crypto investor "Sensei" told his 60,000 followers on X that "the biggest altseason ever will begin in less than 10 days."
Bitcoin's Market Dominance Keeps Altcoins in Check
According to TradingView data, Bitcoin’s current market dominance is at its highest since March 2021, standing at 60.5%. Significant altcoin movements are unlikely until BTC's market share drops below 50%.

Over the weekend, crypto markets saw a slight pullback, with total capitalization declining to $2.4 trillion by November 4.
Altcoins bore the brunt of these losses — Ether and Solana fell by 11% from their October 30 highs, while BNB lost 8%. Bitcoin only dropped by 5.8% after briefly surpassing $73,000 at the end of last month, continuing to dominate the crypto market.
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XRP is currently trading in a narrow price range, indicating temporary stability.
Analysts see potential for a rally if XRP can break through the resistance level at $0.55.
Ripple’s progress in DeFi could attract new investments and add bullish potential to XRP’s outlook.
Recent movements in Ripple’s (XRP) price have drawn attention. Ripple’s expansion into cross-border payments and DeFi development offers some hope, even as XRP’s price dropped 3.1% in the past day and 5.4% over the last month.
XRP is currently valued at $0.49, trading between resistance and support levels. Will this lead to a rally, or is a downturn imminent? Let’s analyze the chart’s key signals to find out.

XRP in a Narrow Channel: Stability or Stagnation?
On the hourly chart, XRP moves within a tight price channel from a support level of $0.4977 up to resistance at $0.5111. With most of the Average True Range (ATR) now covered, we may see a quieter trading day ahead.
Limited price fluctuations often indicate temporary stability, but a break from this narrow range could trigger rapid momentum shifts. A break above resistance could signal bullish potential, while a dip below support might indicate bearish signals.
The Daily Chart Points to a Possible Bearish Reversal
The daily chart shows XRP near a support level at $0.4877, where pressure is building. A drop below this level could lead to a decline toward $0.48. For long-term traders, a weekly close below $0.49 could signal a test of the $0.44 level in the coming weeks.
Despite short-term caution, analysts remain cautiously optimistic. If XRP manages to break through the $0.55 resistance, some experts predict a rise to the $1.36 to $1.89 range. This optimism stems from Ripple’s push into DeFi, which could spark renewed interest in XRP.
For now, XRP’s chart tells a mixed story, showing both resistance and support. These levels have the potential to shift market sentiment. As XRP moves within this range, investors should closely monitor these price points to anticipate the next big move.
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Approximately 70% of the 300 Bitcoin art pieces were sold during the five-week “Art of Revolution” Bitcoin exhibition at the Artevistas Gallery in Barcelona’s Gothic Quarter.
Success of the Bitcoin Art Exhibition in Barcelona
Street artist known as "Street" from the Street CY₿ER collective revealed that the Bitcoin art exhibit, “Art of Revolution,” saw major success—drawing thousands of visitors to Barcelona’s Artevistas Gallery, birthplace of the renowned painter and sculptor Joan Miró. According to Street, this exhibit reflects a "growing global fascination with Bitcoin" and a need to understand the traditional financial system.
Exhibition Attracts a Broad Audience and Changes Perceptions of Bitcoin
From September 24 through the end of October, the exhibit attracted as many as 100 visitors daily. It featured a blend of traditional and modern artworks showing how Bitcoin could foster a fairer financial system. During the exhibition, 70% of the 400 Bitcoin art pieces were sold, showcasing interest from a diverse audience—from students and professionals to art curators and collectors.
Exhibition Sparks New Perspectives on Bitcoin for Many Visitors
Street noted that the exhibit encouraged visitors to reconsider their views on Bitcoin and recognize the role it could play in transforming the financial system. “Many left with a newfound appreciation of Bitcoin’s potential to revolutionize the world,” Street explained.

Growing Interest in Bitcoin Art in Spain
Street observed that Spain’s uncertain economic situation may contribute to the rising interest in Bitcoin art but emphasized that their primary goal is to educate and inspire, not to capitalize on economic difficulties.
Extended Exhibit Success and New Opportunities
Originally scheduled to run from September 24 to October 20, the exhibit was extended by a week due to its success. Street also shared that this achievement has caught the interest of other European galleries, which are eager to host similar exhibits.

Street CY₿ER: Promoting Bitcoin Through Street Art
The Street CY₿ER collective, with over 100 educators, enthusiasts, artists, musicians, and activists, is dedicated to promoting #bitcoin☀️ through street art. Their mission is to raise awareness of Bitcoin and encourage viewers to think about issues like financial privacy, inflation, and the impact of money on society.
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Significant Increase in Investment in Solana-Based Applications
In Q3 2024, institutional investment in applications built on the Solana blockchain reached $173 million, marking a significant 54% increase compared to the previous quarter. According to a report by Messari, this amount is the highest since Q2 2022, despite a 37% drop in the number of funding rounds.

Solana Surpasses Ethereum in Generated Fees
According to recent reports, on October 28, Solana generated over $2.54 million in fees, while Ethereum reached $2.07 million. Often referred to as the "Ethereum killer," Solana aims to increase transaction throughput and reduce costs through its monolithic scaling approach, removing the need for layer-2 blockchains. The third quarter showed a rise in generated fees, enhancing the network’s profitability.
Growth in Daily Fee Payers and a Decline in Certain Transactions
The average number of daily fee payers on Solana increased by 109% to 1.9 million, while new fee payers grew by 430% to 1.3 million. However, the average daily transactions unrelated to voting dropped by 12% to 62 million. The average transaction fee rose by 6% to 0.00015 Sol tokens ($0.023), while the median transaction fee saw a decline of over 19%.

Institutions Drive Tokenization Growth on Solana
At the end of Q3, Solana ranked as the third-largest blockchain for tokenized treasuries, with a total value of tokenized treasuries reaching $123 million, compared to $422 million on Stellar and $1.6 billion on Ethereum. With Franklin Templeton planning to launch a money market fund on Solana, further growth is anticipated.
Societe Generale to Support Solana’s Expansion
Solana’s blockchain growth will also be supported by banking conglomerate Societe Generale, which is launching a euro-denominated #stablecoin in preparation for the Markets in Crypto-Assets (MiCA) regulation. The stablecoin, which has already reached a value of over $37 million on #etherreum , is expected to soon bring support to Solana as well.
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Denmark Imposes the Highest Tax on Crypto Gains
In Denmark, crypto holders face the highest tax burden on cryptocurrency earnings globally, as highlighted by a recent study exploring international crypto tax environments. According to research conducted with Coincub and Blockpit, crypto investors in Denmark pay up to a 53% capital gains tax (CGT).
High Tax Rates in Denmark
The study explains that the Danish Tax Agency considers crypto gains as personal income, subjecting them to the same progressive tax rates as other forms of income. This aligns with Denmark’s overall approach to high taxation, placing it among the most heavily taxed countries worldwide.
Other Countries with High Crypto Tax Rates
The second-highest tax rate is in Iceland, with short- and long-term crypto gains taxed at 38.5%. Ireland takes third place, taxing crypto gains at 33%. These countries also implement progressive tax systems.

Crypto-Friendly Destinations with Low or Zero Tax
On the opposite end of the spectrum are crypto-friendly destinations like Bahrain, Bermuda, Switzerland, the Cayman Islands, and the United Arab Emirates, which impose no capital gains tax on digital assets. These jurisdictions offer favorable regulatory environments, attracting individuals and businesses looking to benefit from low tax burdens.
Tax Benefits for Long-Term Crypto Holders in Some European Countries
Some Eurozone countries offer tax breaks for long-term crypto investors. For example, in Germany, capital gains from crypto are tax-free if assets are held for over a year or if profits remain under €1,000. However, short-term transactions incur a 45% tax rate.
Belgium exempts long-term capital gains from tax if considered part of ordinary asset management. Short-term gains, however, are taxed at 33%, while income from professional crypto activities may be even higher.
Similarly, Luxembourg exempts crypto held for over six months, while short-term gains are subject to a progressive tax rate of 42%. Other countries with similar benefits include Malta, Cyprus, and Croatia.
New Global Standards for Crypto Tax Focus on Transparency
The growing use of crypto assets has led to the creation of new tax initiatives: the Crypto-Asset Reporting Framework (CARF) and the Tax Administration for Crypto-Asset Activities (TARKA).
CARF aims to increase transparency and reduce tax evasion by establishing a global standard for reporting crypto transactions. TARKA works alongside CARF to facilitate cooperation among tax authorities from 48 countries.
These initiatives intend to require crypto service providers to enhance their systems to meet expanded reporting obligations. Tax authorities will have new tools to monitor and enforce taxes on hidden crypto gains.
#cryptoregulation , #cryptotax , #CryptoNewss , #bitcoin☀️ , #Cryptocurrencies
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First Cryptocurrency Seizure in Victoria with New Legal Framework
Victoria Police in Australia has successfully seized cryptocurrency worth $142,679 for the first time. This seizure results from a newly implemented legal framework allowing police to take control of digital assets through search warrants.
On October 31, Victoria Police released its annual report for the 2023–24 period, highlighting the grant of "new powers." These powers include Section SECT 92A "Digital Asset Seizure under Search Warrant," added to the Confiscation Act of 1997.
Since August 1, 2023, this law change has empowered Victoria Police to seize cryptocurrencies held by criminals through search warrants.
Investigation Amid Drug Crisis
During a major investigation into drug trafficking, the Victoria Police Cryptocurrency Operations Unit discovered several recovery phrases in seized documents and subsequently requested a search warrant.
Recovery phrases are secret strings of words that allow access to specific crypto wallets and their assets.
According to the report, police recorded the first successful cryptocurrency seizure under the new legislation:
"Victoria Police detectives gained access to six wallets and seized various cryptocurrencies valued at $142,679.10."
New Powers Simplify Cryptocurrency Seizures
The new legislation gives police four methods for seizing digital assets during a search: accessing storage and communication devices, altering or transferring crypto assets, and conducting transactions that lead to exclusive control over the assets.
Victoria Police can seize any device containing cryptocurrency or enabling access to it, such as hardware wallets.
In September, it was reported that Australian regulators are preparing new guidelines requiring crypto exchanges to obtain financial services licenses. Australian Securities and Investments Commission (#ASIC ) Commissioner Alan Kirkland deems the new requirements necessary, as most major cryptocurrencies, like Bitcoin and Ether, fall under corporate law.

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Asia's Rise as a Leader in Cryptocurrency
The geographic distribution of cryptocurrency developers often indicates which regions are poised to lead future blockchain innovations. A recent report showed that Asia has surpassed North America, emerging as a leader in cryptocurrency and blockchain development.
Asia’s share of the crypto developer base grew to 32% in 2024, a significant increase from 13% in 2015. This growth positions Asia as a key region for developer talent in this rapidly evolving industry.
Decline of Developers in North America
Meanwhile, the share of North American developers has effectively halved over the same period, dropping from 44% in 2015 to 24% in 2024. Maria Shen, General Partner at Electric Capital, commented on October 30:
“Asia is now number 1 for crypto developers. The U.S. is losing market share. Crypto affects every state in the U.S. — it should be neutral.”

This growth in Asia’s developer base is a positive indicator of mass blockchain adoption, as it suggests an increasing number of consumer applications built on this technology.
The U.S. Still Leads in the Number of Crypto Developers
Despite 81% of blockchain developers now residing outside the United States, the U.S. still holds the highest number of developers globally. Approximately 18.8% of all crypto developers are based in the U.S., followed by India at 11.8%, with the UK holding the third position at 4.2%.

However, since 2015, the U.S. has seen a decline of over 51% in its share of developers, despite the continued growth of the industry. In the U.S., 22.3% of developers are based in California, and 13.7% in New York, with 64% located outside these two states.

Research on Crypto Data on GitHub
Researchers analyzed over 200 million cryptocurrency-related records on GitHub across 350,000 repositories. Geographic data was drawn from more than 110,000 developer wallets, where developers self-reported their locations.
Growing Institutional Interest in Cryptocurrency in Asia
Institutional interest in cryptocurrency is rising in Asia. In South Korea, the number of crypto investors increased by over 21% in the second half of 2024. This growth pushed the cumulative operational profits of the top 21 local centralized exchanges (CEX) above $4.2 billion, representing a year-over-year increase of 106%.

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Former President Donald Trump recently reignited a debate with his proposal to eliminate capital gains taxes for cryptocurrencies created in the USA. Trump believes that removing these taxes on digital assets, such as Bitcoin and XRP, could encourage everyday use by lowering tax burdens on common transactions.
Trump's proposal has sparked discussions about the role of digital assets in the U.S. economy, with some viewing this change as a way to increase cryptocurrency usage without complex tax requirements that often deter smaller purchases.
Argument Against Capital Gains Taxes on Cryptocurrencies
Trump argues that the current tax structure associated with cryptocurrency transactions is disadvantageous. He points out that during routine purchases, such as buying coffee with Bitcoin, Americans are subject to capital gains tax if Bitcoin's value has risen since it was acquired. This requirement makes routine transactions taxable events, which he believes discourages the use of cryptocurrencies like Bitcoin in daily situations.
Trump suggests that in such cases, Bitcoin should be treated as regular currency, thus exempting it from additional taxes. To support his proposal, he shared an anecdote about a friend who also believes that digital currencies should remain tax-free.
Instead of taxing American cryptocurrencies, Trump proposes imposing a duty on foreign cryptocurrencies, which would affect digital assets from countries outside the U.S., promoting the development of domestic cryptocurrencies and reducing reliance on foreign tokens.
Supporting Innovation in the U.S. Crypto Sector
Trump's proposal favors U.S.-based crypto assets, such as Bitcoin and XRP. Under his plan, transactions involving these American cryptocurrencies would be tax-exempt, potentially attracting more Americans to invest in and use them. This tax advantage would make Bitcoin and XRP more appealing compared to foreign assets, like Ethereum, which would still be subject to taxes.
In addition to supporting domestic digital assets, Trump argues that tax relief would spur growth and innovation in the American cryptocurrency sector. By reducing the tax burden on American cryptocurrencies, he aims to foster an environment where new digital assets can emerge, potentially positioning the U.S. as a leader in cryptocurrency development and adoption on a global scale.
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A crypto analyst has surprisingly predicted a drop in Solana's price despite the ongoing bullish momentum. His analysis suggests a significant decline for Solana, offering a new perspective on this cryptocurrency's development.
According to a cryptocurrency trader on TradingView known as AlanSantana, Solana's trading volume over the past two months indicates that the cryptocurrency may be heading towards a potential crash.
Analyst Predicts a Massive Crash for Solana
AlanSantana noted that Solana's trading volume between September and October 2024 has dropped significantly, which often signals a bearish outlook and may indicate an upcoming downward price impulse. This development suggests a decrease in demand for the cryptocurrency.
The analyst contrasts the current situation with last year’s trading activity, specifically from September to November 2023, when Solana's trading volume was increasing. This growth in trading volume at the time fueled an upward rally that peaked in the first quarter of 2024, with Solana reaching significant highs.
Based on the difference between the two time periods and the current decline in trading volume, the analyst suggests that Solana is more likely to head in a major bearish direction. He highlighted a potential drop in Solana's price below the $50 level, which would effectively erase the gains from the previous year and return the cryptocurrency to its November 2023 price range.

SOL Whales Remain Active
Solana is still partially in a bullish mode, despite the decline in trading volume noted by AlanSantana. According to data from on-chain monitoring firm Lookonchain, crypto whales increased their Solana trading activity over the past week.
In a post on platform X, Lookonchain cited three instances where Solana whale addresses withdrew SOL tokens from crypto exchanges and subsequently staked them. The largest transaction came from the address “AA21…VxH9,” which moved 153,511 SOL tokens worth approximately $26.4 million from Binance to stake them.
Another whale, identified as “EHax...gAUa,” withdrew 35,498 SOL tokens worth $6.12 million from Binance and Kraken over three days and then staked the tokens. Conversely, the whale address “EGzi…mR7g” purchased 13,000 SOL tokens worth $2.3 million from Binance, bringing their total to 95,651 SOL.
Interestingly, another smart whale address recently sold 26,726 SOL worth $3.86 million. Known for its low buys and high sells, this whale currently holds 42,729 SOL, valued at $7.61 million.

At the time of writing, Solana is trading at $178, an 8% increase over the past seven days. The accumulation and momentum are currently bullish, making a drop toward $40 seem unlikely at this moment.
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Bitcoin Halloween: Stories of Loss and Deception
On Halloween and the anniversary of the #bitcoin☀️ whitepaper, Cointelegraph presents six spine-chilling crypto mysteries perfect for sharing around the campfire. The crypto world is filled with tales of disappearance and fraud, from millions lost on hard drives to founders who vanished.
These eerie stories reveal the hidden risks of Bitcoin and #Cryptocurrencies and the lengths people will go to recover their elusive fortunes.
The Lost Bitcoin on the Landfill and James Howells
In the depths of a landfill in Newport, UK, lies a "ghost" of Bitcoin, haunting the piles of trash for over a decade. In 2013, IT technician James Howells mistakenly threw away a hard drive containing 8,000 BTC. At the time, it was worth around $1 million; today, it's valued at more than half a billion dollars.

Howells has planned numerous “expeditions” to reclaim his lost digital fortune, but each attempt has been thwarted by the local council. The landfill, buried under thousands of tons of waste, has become the grave for Howells’ Bitcoin treasure, now worth a fortune but still out of reach. Howells is currently suing the city of Newport for more than £495 million ($643 million), with a decision expected on December 3 on whether he will be allowed to embark on his "Bitcoin ghost hunt."
The Zombie Bitcoin That Won’t Die: Chilling Tales of Lost Digital Wealth
Each lost Bitcoin carries its own story—forgotten passwords, damaged wallets, or cryptographic secrets taken to the grave. Glassnode estimates that around 1.5 million BTC is likely lost forever.

However, some of these forgotten tokens occasionally “wake up.” Old coins dormant for more than a decade are reintroduced to the market, giving patient investors a profitable return. Yet, the majority of these coins will remain inactive forever. Bitcoin enthusiasts sometimes check Satoshi Nakamoto’s dormant wallets, holding over 1 million BTC, to see if they show any signs of movement. As Satoshi once said, “Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.”
USDT in Chains: Tether's Shadowy Whispers
With USDT Tether's growing popularity, its market capitalization now exceeds $120 billion, sparking chilling rumors of unrecorded reserves and suspicious transactions.
Recently, the Wall Street Journal reported that U.S. federal authorities are investigating Tether for alleged money laundering by third parties. Tether's CEO Paolo Ardoino dismissed the report as “old noise,” but fears linger. A collapse of Tether could cause the entire market to plummet, and the idea of reliving such a nightmare hangs ominously over the industry.

The Disappearance of QuadrigaCX's Founder
As CEO of Canada’s crypto exchange QuadrigaCX, Gerald Cotten managed millions in digital assets. In December 2018, however, he suddenly died, losing access to over $190 million worth of cryptocurrencies.
Cotten’s death remains a mystery. Reportedly, he succumbed to complications from Crohn’s disease while visiting India, where he planned to open an orphanage. However, after his death, it emerged that Cotten was the sole manager of QuadrigaCX’s assets, and further investigations revealed suspicious transactions. Some speculate that Cotten faked his own death and absconded with the funds.

The Vanishing Crypto Queen Ruja Ignatova
Ruja Ignatova, also known as the "Crypto Queen," founded OneCoin, which turned out to be a Ponzi scheme. Ignatova disappeared in 2017, just as investigations into her company intensified worldwide.
OneCoin promised huge returns but lacked a genuine blockchain. Ignatova accumulated around $4 billion and has been missing ever since. In 2022, she was added to the FBI’s top ten most wanted list, but her fate remains unknown.

Crypto Exchanges in the Dark
In cryptocurrency trading, fortunes can be made or lost in an instant. But beyond market volatility, traders also face the unsettling risk of sudden exchange outages.
For example, in 2018, a two-hour upgrade on the Kraken exchange turned into a 48-hour outage. In March 2021, Binance faced a surge in trading activity that caused the platform to crash, leaving trades in limbo. Such incidents can quickly turn a trader’s luck—transforming potential gains into losses in the blink of an eye.

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Bitcoin is once again approaching the $70,000 mark, while Ethereum has seen a significant drop to $2,600.
Shifting Dynamics Between the Two Cryptocurrencies
Ethereum has declined each time Bitcoin has reached $70,000, reflecting different trends in market interest and strength for each asset. This development highlights Bitcoin’s stability, while Ethereum faces a decline in investor support. As Bitcoin repeatedly tests the $70,000 threshold, Ethereum’s diminishing value illustrates the changing relationship between these two major #Cryptocurrencies .
History of Bitcoin’s Price Peaks and Ethereum’s Response
When Bitcoin first reached $70,000, Ethereum was trading around $4,000, and both cryptocurrencies enjoyed a period of strong growth and positive market sentiment.

By the second time #bitcoin☀️ reached $70,000, Ethereum had dropped to $3,700, indicating the first noticeable performance gap between the two. While Bitcoin maintained its value, Ethereum began a gradual decline, signaling cooling interest in Ethereum compared to Bitcoin.
At the third peak of $70,000, Bitcoin again showcased its resilience, while Ethereum was trading at an even lower $3,300, further widening the gap between the two assets.
Now, with Bitcoin reaching $70,000 for the fourth time, Ethereum has declined to $2,600, representing a more than 35% drop from when Bitcoin first hit this mark. Bitcoin’s stability at this level has drawn the attention of investors.
Changes in the Crypto Market
This trend highlights a shift in the cryptocurrency market. While Bitcoin holds its position and repeatedly reaches its peak, Ethereum struggles to maintain its previous highs. Bitcoin increasingly asserts itself as a store of value, likely influencing investors' perception of Ethereum’s worth.
Investor Reactions to Market Dynamics
Investors are closely watching the different responses of Bitcoin and Ethereum to market pressures. Bitcoin’s stable value suggests a broader trust in its role as digital gold, while Ethereum is grappling with adapting to new market demands.
Bitcoin’s repeated success at the $70,000 level confirms its resilience, whereas Ethereum’s declining values show shifting market perceptions. Investors are evaluating these differences to anticipate future movements in this dynamic market pair.

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The price of Bitcoin (#BTC☀ ) is nearing its all-time high (ATH), and it’s possible that a new peak could be reached in the coming days. This positive trend has caught the attention of major players—known as Bitcoin whales—who have initiated a strong buying spree. This activity has further fueled Bitcoin’s upward momentum, aiming to close October with a new price high.
Earlier today, a significant transaction of approximately $91 million saw 1,260 BTC withdrawn from Binance, one of the world’s largest cryptocurrency exchanges. The movement was tracked by Whale Alert, a platform monitoring large market transactions, with the bitcoins transferred to an unidentified wallet.
Notable Bitcoin Purchase
This action by a Bitcoin whale, a term for entities holding large amounts of digital currency, is widely seen by analysts as a bullish signal. Large withdrawals from exchanges often indicate investor confidence, as funds are moved to private wallets for long-term holding rather than frequent trading. Such behavior generally suggests expectations of future price growth.
Market analysts believe that massive Bitcoin withdrawals can positively impact BTC’s price by reducing the available supply on exchanges. Lower supply combined with steady or rising demand has the potential to push Bitcoin’s price upward, as fewer coins remain available for trading.
Is a New Bitcoin High Approaching?
At the time of writing, Bitcoin is experiencing a steady upward trend. In the past 24 hours, BTC has risen by 0.2%, bringing its price to $71,622.59. This gradual increase reflects ongoing market enthusiasm, with both small and large traders maintaining a bullish outlook on Bitcoin, supported by positive fundamentals and recent whale activity.
Bitcoin is closing in on its ATH of $73,800, which was reached in March. Considering the current market dynamics and the bullish actions of major investors, it’s highly likely that a new peak is on the horizon. With resilient pricing and growing investor interest, #bitcoin☀️ continues to solidify its position as the leading digital asset.
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While Donald Trump has strong backing from the crypto community, Kamala Harris has also garnered significant support. The 2024 U.S. presidential election has attracted interest from crypto investors, with several key figures and entrepreneurs publicly endorsing both candidates.
Trump Leads in Crypto Support
Donald Trump, known for his cautious stance on Bitcoin, has received more public support from the crypto community than Harris. His advantage may be due to announcing his candidacy back in November 2022, whereas Harris was nominated only in July 2024.

One of the first to publicly back Trump was Jeremy Kauffman from the blockchain platform LBRY in May 2024. Harris received her first crypto-related endorsement in August from former Uphold CEO JP Thieriot, followed by John O’Farrell of Andreessen Horowitz.
Prominent Crypto Figures Backing Trump
Trump has also gained support from other influential figures in the crypto world. For instance, the founders of Gemini, the Winklevoss twins, pledged $2 million in Bitcoin for his re-election. Kraken founder Jesse Powell donated $1 million, calling Trump the “pro-crypto candidate.” Cathie Wood of ARK Invest and Elon Musk, Tesla’s CEO, have also endorsed him.

Other crypto project founders backing Trump include Charles Hoskinson (Cardano), Mike Belshe (BitGo), Justin Sun (Tron), and several key investors.
Harris Gains Crypto Community Support Despite Late Start
Despite her later start, Harris has gained the backing of some significant players in the crypto industry. In September, she broke her silence on crypto policy, supporting the industry while emphasizing consumer protection. Ripple CEO Chris Larsen and Cleve Mesidor from the Blockchain Foundation have expressed support for Harris, organizing fundraisers for her campaign.
One of her most notable supporters is Mark Cuban, who has criticized the potential of a second Trump term. She also has the backing of managers from firms like a16z and SkyBridge Capital, including Anthony Scaramucci, who is actively working on Harris’s crypto policy.

Independent Stances: Crypto Development Independent of Election Outcome
Some crypto representatives remain neutral, believing the growth of crypto does not depend on the election winner. Investor Tim Draper donated to both campaigns, expressing confidence that “both candidates have good intentions.”
Coinbase CEO Brian Armstrong believes the future U.S. government will be open to cryptocurrencies regardless of the election outcome. Mati Greenspan, founder of Quantum Economics, noted that the crypto community understands Bitcoin’s independence, with many people feeling that “voting for Harris poses no threat to crypto.”

On October 27, Michael Saylor of MicroStrategy conducted a survey showing that 90% of 100,000 respondents would choose Trump as the better president for Bitcoin.
#donaldtrump , #kamalaHarris , #Election2024 , #CryptoNews🚀🔥 , #Cryptocurrencies

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According to data from CoinStats, it appears that most cryptocurrencies, including Toncoin (TON), may have reached a local peak.

Current Movement of TON/USD
In the past 24 hours, Toncoin’s price has decreased by 0.66%. On the hourly chart, TON is trading within a local channel, with support at $4.956 and resistance at $5.070. Given that most of the daily ATR range has already been covered, significant price fluctuations by the end of the day are unlikely.

On a larger time frame, the situation has remained unchanged since yesterday. The low trading volume suggests that there is no indication of a major movement from either side of the market.
Therefore, the more probable scenario is consolidation within the price range of $4.95 to $5.150.

Mid-Term View on TON’s Price
From a mid-term perspective, the outlook for TON remains relatively neutral. The price is distant from key levels, indicating a lack of strength from both buyers and sellers. Overall, traders may witness a continuation of sideways movement around the current price.
#CryptoPredictions , #TON , #TonPricePrediction , #CryptoNews🚀🔥 , #Cryptocurrencies
At the time of writing, TON is trading at $5.025.

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The Hong Kong Securities and Futures Commission (SFC) plans to approve more licenses for crypto exchanges by the end of the year. However, these exchanges must undergo stringent checks to ensure full regulatory compliance.
SFC’s Strict Licensing Framework
The SFC introduced a licensing framework that crypto exchanges must adhere to. This framework includes essential requirements such as anti-money laundering (AML) measures, investor protection, and secure asset custody.
Deficiencies Found in Some Companies After Inspection Period
Following a five-month inspection period, the SFC found that some digital asset trading companies going through the approval process failed to meet key requirements, especially regarding client asset custody and security practices.
Based on these reviews, three exchanges – OSL, Hashkey, and HKVAX – received full licenses. Eleven other exchanges, including Crypto.com, received preliminary licenses and must resolve specific deficiencies.
Positive Impact on Hong Kong's Reputation
The new licenses are expected to enhance Hong Kong’s standing as an international hub for #Cryptocurrencies . SFC’s Executive Director for Intermediaries, Dr. Eric Yip, stated that regulatory feedback is beneficial for exchanges, and exchanges are willing to allocate resources to address identified issues. According to Yip, regulation encourages the digital asset market to operate within the law, which supports broader digital asset adoption.
Hong Kong Shifts Toward a Friendly Approach to Digital Assets
Crypto regulation has long been a divisive issue. In the past, Hong Kong was not very welcoming to digital assets due to concerns over their volatility, investor risks, and money laundering.
After the unlicensed crypto exchange JPEX defrauded over 2,600 people of approximately $105 million, the Hong Kong government began taking measures to protect citizens. Currently, Hong Kong is making a strong bid to become a global center for digital assets.
The SFC has become one of the regulators with a comprehensive approach to digital assets, and Hong Kong is positioning itself as a pioneer. One example is the introduction of crypto ETFs, launched in Asia just three months after similar products in the United States.
#cryptoregulation , #HongKongCrypto , #blockchaininnovation , #CryptoNewsCommunity

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Thai immigration authorities have dismantled a cross-border cryptocurrency scam that defrauded a local woman of over $620,000.
According to the local news outlet Khaosod, five suspects were arrested, including citizens of Cambodia, Myanmar, and Thailand. These individuals established a fake investment group to lure victims.
Scam Organized Through Social Media
The fraudsters launched the operation at the end of 2023, using a public Facebook group called “Investor Chat Room” to attract victims, including Ms. Mallika, by promising high returns on investments.
Later, they convinced Ms. Mallika to move the conversation to the LINE app, where they offered her “profitable” investment opportunities in cryptocurrency and stock portfolios, leading her to invest large amounts.
Building Trust and Manipulating the Victim
The suspects assured Ms. Mallika that her investments needed time to yield profit or that more capital was required for leveraged trading. To reinforce her trust, they sent her small returns, creating the illusion of legitimate investing. As a result, the victim transferred a total of 21 million baht (around $621,000) to accounts connected to the fraudsters.
Money Laundering and Investment in Luxury Real Estate
According to immigration officials, the acquired funds were transferred across borders using a Burmese trader who managed a cover company in Thailand. Through this method, the funds were divided across Cambodia, Myanmar, and Thailand. Eventually, the laundered funds were used to purchase a luxury apartment in Bangkok’s Rama 9 area, intended for quick resale.
Authorities’ Action and Arrest of Suspects
Following a detailed investigation, immigration authorities obtained warrants from the Southern Bangkok Criminal Court for the key suspects, who were subsequently arrested. The suspects now face charges of fraud, identity theft, and other crimes.
Other Similar Cryptocurrency Scams
As reported by crypto.news, a similar case involved the EXW-Token scam, where fraudsters defrauded Austrians of 20 million euros, promising high returns but instead using the funds to finance a lavish lifestyle.
In another recent case, the cryptocurrency exchange Binance helped freeze $100,000 USDT linked to Indian scammers, who solicited funds under the guise of investments in renewable energy projects.
#CryptocurrencyScams , #scamalert , #CryptoNews🚀🔥 , #Thailand , #Cryptocurrencies

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According to data from the Kraken exchange, Bitcoin’s price has surpassed the 100,000 Canadian dollar mark for the first time in history, marking a milestone for the cryptocurrency in the Canadian market.
Decline of the Canadian Dollar and Its Impact
This record comes as the Canadian dollar has weakened against the U.S. dollar following a 50 basis point interest rate cut announced by the Bank of Canada on October 23. At the time of writing, the Canadian dollar is trading at 72 U.S. cents. Bitcoin has thus broken past its previous Canadian high of 98,462 CAD set in March.

Bitcoin Has Yet to Break Its All-Time High in U.S. Dollars
Although Bitcoin has reached new record levels in Canadian dollars, its price in U.S. dollars remains below its all-time high. Today, it reached a peak of $72,692 on the Bitstamp exchange, still about 1.5% below its current record of $73,737, achieved due to enthusiasm surrounding the launch of Bitcoin ETFs early in 2024.
Historical Context and Future Expectations
Bitcoin’s highest point of $73,737 was reached on the back of strong bullish sentiment around the success of Bitcoin ETFs, which attracted significant attention and capital at the start of 2024. While the U.S. market is still waiting for this level to be surpassed, the new high in Canada suggests that Bitcoin remains a strong asset, even amid changing macroeconomic conditions.
#Bitcoin❗ , #CryptoNews🚀🔥 , #Cryptocurrencies , #BitcoinPrice2024
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The Bhutanese government recently sold part of its bitcoin holdings as the price surpassed the key $70,000 threshold. Although Bhutan still owns approximately $886 million worth of bitcoin, this sale could add selling pressure to the market, given that the country has been holding and mining bitcoin for over five years.
Bhutan Transfers Bitcoin to Binance
The Bhutanese government’s wallet transferred $66 million in bitcoin to the cryptocurrency exchange Binance, signaling plans to sell on this globally leading platform. According to data from Arkham Intelligence, these funds were moved in two transactions on October 29, shortly after bitcoin’s price crossed the $70,000 mark for the first time since June.

Key Price Levels and Their Impact
Price levels like $70,000 often bring volatility to the market and attract profit-taking. With the significant amount of bitcoin that the Bhutanese government holds, further selling pressure could impact the cryptocurrency’s price.

Bitcoin as a Source of Public Funding
Bitcoin mining has become an essential part of Bhutan’s economy, contributing, among other things, to a 50% pay increase for public sector employees. In 2023, Bhutan's bitcoin reserves accounted for more than 26.9% of its gross domestic product (GDP), which reached $2.9 billion.
According to local reports, revenue from mining by Bhutan’s investment fund, Druk Holding and Investments, was used to finance the wage increase for government employees in 2013. The South Asian country now holds twice as much bitcoin as El Salvador, which adopted bitcoin as legal tender over three years ago.

Macro Factors Driving Bitcoin’s Price Increase
Bitcoin’s price is also being driven by several global macroeconomic factors. These include China’s plan to secure a new $1.4 trillion debt, which, according to BitMEX co-founder Arthur Hayes, could present a “great buying opportunity” for bitcoin.

Analysts from Bitfinex also see the Chinese economic stimulus as a potential driver of demand for bitcoin. History shows that large financial injections can boost risk assets, as seen during the U.S. stimulus in 2020, which spurred bitcoin's growth.
U.S. Presidential Election Significance for Bitcoin
Additionally, bitcoin’s price is being bolstered by anticipation around the upcoming U.S. presidential election on November 5. A victory for former President Donald Trump, whose odds are rising, is seen as a positive signal for risk assets like bitcoin.
#Cryptocurrencies , #BTC☀ , #CryptoNews🚀🔥 , #BitcoinMarket , #bitcointrading

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Ethereum co-founder Vitalik Buterin recently introduced the fifth phase of Ethereum’s development, known as “The Purge.” This phase focuses on more efficient data processing and reducing excessive data storage, aimed at enhancing Ethereum’s performance. Analysts believe this update could be a catalyst for the next Ethereum bull run.
Update Enhances Network Efficiency
The primary goal of the new update is to limit excessive data storage on the network, which will make Ethereum run faster and more efficiently without compromising its security and stability. This step comes at a time when there is speculation about a potential new bull market in the cryptocurrency sector.
Impact on Ethereum’s Performance
While these changes are technical, they may have a direct impact on Ethereum’s market performance. Currently, #ETH🔥🔥🔥🔥 is trading around $2,600, and analysts argue that the timing of this update could align with anticipated growth in the broader cryptocurrency market.
Renowned macro trader Jason Pizzino commented on platform X that Buterin’s move indicates an impending bull phase for Ethereum. According to him, it seems as though Buterin anticipates a bull market and wants to prepare the network for increased usage.
Ethereum’s Lackluster Performance and Potential Reversal
However, Pizzino noted Ethereum’s current price performance, which remains under $2,900, likening it to other stagnating cryptocurrencies such as XRP and Cardano (ADA). Pizzino shared a chart capturing a series of lower highs and lows from April to September. However, he also pointed out recent higher lows, which could be a precursor to a bullish reversal.
He emphasized that regaining the $2,900 level could be crucial for confirming Ethereum’s bullish trend.

Does Ethereum Still Have Its Competitive Edge?
Another analyst, Grey BTC, raised concerns about Ethereum’s slowing pace of development. In a post on X, he expressed worries that Ethereum is relying on rebranding successful projects from other networks, such as Solana, rather than launching new ones. Grey BTC noted that a lack of new projects and issues with meme coins might negatively impact Ethereum’s adaptability in this cycle.
Although Grey #BTC☀ is a fan of Ethereum, he fears it might eventually end up in a similar position relative to Bitcoin as ADA or XRP.
#CryptoAnalysis" , #ETHPrice , #Cryptocurrencies , $ETH

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With the U.S. Congress reconvening after the upcoming elections, it’s expected that cryptocurrency legislation will gain momentum again after a long campaign break.
Post-Election Rush on Cryptocurrency Regulation
Last month, Congress paused its legislative work on #Cryptocurrencies to focus on the campaign. Ron Hammond, Director of Government Relations at the Blockchain Association, highlighted key developments and challenges lawmakers will face upon their return. With only five weeks remaining in the session, the final election results could play a crucial role in shaping the slow session’s agenda.
"If election results are not conclusive when Congress reconvenes, it could derail many plans," Hammond warned, adding that the busy legislative agenda includes financial bills, defense and agricultural laws, disaster relief, and potentially stablecoin regulation.
Stablecoin Regulation: A Tight Timeline
Hammond noted that there’s bipartisan momentum for stablecoin legislation, but no final agreement has been reached. He added that if the legislation doesn’t pass this year, there’s still optimism for 2025.
“The election results will set the stage for what’s possible during this session. If stablecoins don’t make it to the finish line this year, it will likely be due to political factors or a lack of time,” he said, referring to a similar situation two years ago when stablecoin legislation was on the table. Key developments in October included the release of a stablecoin discussion draft by Senator Bill Hagerty, which Hammond cited as a focal point for House leaders.
Rumor has it that Hagerty could be a candidate for Treasury Secretary if Donald Trump wins the election, highlighting the potential for future changes in stablecoin policy.
Tether and Broader Market Concerns
Hammond also addressed recent concerns around Tether following a Wall Street Journal report about a possible investigation by New York authorities. Although Tether’s CEO denied the allegations, Hammond suggested it’s a critical issue to watch, particularly with Howard Lutnick’s role in Trump’s campaign and Cantor Fitzgerald’s influence over Tether.
Confidence in a Pro-Crypto Congress
Looking toward 2024, Hammond expressed confidence in an emerging “pro-crypto Congress.” He pointed to a high success rate of pro-crypto candidates from both parties in the primaries, with pro-crypto candidates from both the Democratic and Republican sides in some races.
“As Politico noted last week, next year’s Congress is set to be the most ‘pro-crypto Congress’ yet,” he said. This shift suggests a greater likelihood that stablecoin legislation will pass, even if not in 2024.
Broader Cryptocurrency Regulations on the Horizon
Hammond emphasized that crypto legislation in 2025 will not be limited to stablecoins. A major tax bill will likely include cryptocurrency provisions, and there is also a push to finalize market structure and #NFT​ regulations. Additionally, decentralized finance (#DEFİ ) is expected to receive increased attention.
#cryptoregulation , #stablecoin

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