Trump’s Early Election Lead Fuels Hopes for Bitcoin Reaching New Heights at $75,000

Bitcoin Price Analysis
The price of Bitcoin (BTC) surged beyond $74,500 with early reports showing Donald Trump gaining traction in the U.S. presidential election, sparking optimism among crypto investors. They hope that Trump’s pro-crypto stance, including his pledge to dismiss SEC Chair Gary Gensler, might ease regulatory pressure on Bitcoin (BTC) and Ripple (XRP). With the overall market sentiment positive, and trading platform Mt. Gox recently moving its BTC assets to cold storage, Bitcoin continues to gain momentum.

BTC and XRP Prices Surge Amid Investor Optimism with Trump’s Rise
Due to Donald Trump’s early lead in the presidential race, his pro-crypto approach has boosted Bitcoin and Ripple. His promise to remove the SEC Chair could impact the ongoing Ripple lawsuit with the SEC, potentially accelerating the approval of an XRP ETF. This development could drive Ripple’s price closer to its July 2023 peak of $0.93.$BTC

In a surprising turn of events, a dormant Bitcoin whale has reactivated after 12 years, raising questions about BTC’s future.

The owner of a crypto wallet holding a substantial Bitcoin (BTC) balance has reactivated after a long period of inactivity spanning 12 years, sparking intrigue among crypto investors and market analysts alike. A significant sum of 159 BTC, valued at approximately $11.75 million, was transferred from this wallet, which had been inactive since 2012. This transaction highlights the wealth amassed by early Bitcoin investors. It is likely that this whale acquired their BTC at just $10.50 per coin, currently holding an unrealized profit of approximately 700,854%.

Naturally, this development has piqued the curiosity of many regarding its potential impacts on the entire sector, along with the motives behind such sudden moves.$BTC

$BTC

Bitcoin’s price dropped by -1.61% in the last 24 hours, reaching $67,677.4, reducing its market capitalization to $1.34 trillion. Bitcoin remains dominant with a 60.7% market share, followed by Ethereum at 13.3%. Over the past week, Bitcoin fell by -2.83% and Ethereum by -3.49%.

Other cryptocurrency prices include:

• Solana: $159.411, -2.0%
• Binance Coin: $551.56, -1.16%
• Ripple: $0.5071, +0.73%
• Dogecoin: $0.158322, +5.46%
• Shiba Inu: $0.00001696, +0.35%
• Cardano: $0.3284, -1.63%

The fluctuations in cryptocurrency prices also impacted related stocks, such as:

• Coinbase Global Inc (COIN): $184.25, +0.8%
• MicroStrategy (MSTR): $221.45, -3.6%
• Marathon Digital Holdings (MARA): $15.50, -3.8%
• PayPal (PYPL): $77.80, +0.7%
• Block (SQ): $72.83, +0.9%

The #U.S . dollar declined on Monday due to political uncertainty ahead of the close presidential election between Donald Trump and Kamala Harris, as well as expectations of a Federal Reserve rate cut. Harris gained an advantage in a recent Iowa poll. Markets anticipate possible volatility in dollar pairs as the election approaches, while Trump’s policies are expected to impact inflation and the dollar. The Fed is also anticipated to cut rates, with economic data showing slowed job growth in October.

There may be a drop ahead of the election news, and that’s good. For those who are feeling afraid and want to exit the market, exiting should happen during an upswing, not at market lows. The entire market is an opportunity.$BTC #CryptoAMA

Title: Cardano (ADA) Faces Continuous Decline in Value Since the Start of the Year. Can It Recover by the New Year?

Cardano (ADA), a prominent altcoin, has faced strong competition from other smart contract networks such as TRON (TRX) and Toncoin (TON). This competition has pushed Cardano down to the 11th position in terms of market capitalization, now standing at $12.8 billion, with TRON taking its place in the top 10 cryptocurrencies, closely followed by Toncoin. Toncoin, developed with contributions from Telegram co-founder Nikolai Durov, has a market capitalization of $12.5 billion.

Yesterday, ADA’s price rose by 1.8% to reach $0.3593, while TRX and TON showed varied performances. Nonetheless, Cardano enthusiasts hope that upcoming blockchain announcements and updates will strengthen its position in the sector.

Price Analysis of Cardano: Will It Decline Further?

In 2017, two years after the launch of the Ethereum blockchain, Cardano’s blockchain was introduced, and its native currency (ADA) held a spot among the top 10 cryptocurrencies by market capitalization for many years, until recently. In addition to shared functionality, technical architecture, and scalability, Cardano and Ethereum also share a notable figure: Charles Hoskinson. One of Ethereum’s co-founders, Hoskinson was sidelined by the Ethereum Foundation team due to differing views on the foundation’s direction. He advocated for a for-profit model, which led to his departure.$ADA

Title: The Power Shift: 81% of Crypto Developers Now Outside the U.S.

Date: November 2, 2024, 09:00 GMT+1

A recent study by Electric Capital reveals a significant drop in the percentage of crypto developers based in the United States over the past decade. While the U.S. still leads globally in crypto developer concentration, this position may be at risk unless policies promoting crypto development are reinforced.

The study analyzed a sample of over 110,000 developers worldwide. According to the findings, the top three countries by developer percentage are the United States, India, and the United Kingdom, with shares of 18.8%, 11.8%, and 4.2%, respectively.

Could #Ripple ’s Price Surge Due to Increased Pressure from Bitcoin’s Price?$XRP

Ripple (XRP) has held steady over the past 24 hours, recording a slight gain of 0.66%, despite a brief dip. At the same time, an analyst suggested that XRP’s price could “create substantial market pressure” as traders with open positions may be forced to close them. Despite XRP’s ongoing struggles, with a 5.29% decline since last Monday, interest in the cryptocurrency is rising. Its trading volume increased by 25.23% to reach $615 million in the past 24 hours.

The renowned trader Crypto Michael highlighted in a September 8, 2024, post on Platform X that there is significant “pressure building” on the XRP/BTC chart, potentially setting up for an upward breakout.

English Translation and Summary:

Crypto Sector Losses Reach $55,138,600 in October Due to Seven Hacks

A recent report from Immunefi—a major security solutions provider and bug bounty platform—reveals that October recorded the second-lowest monthly loss year-to-date (YTD), with the sector losing $55,138,600 to seven hacks. However, these losses represent a 114% increase compared to October 2023, which recorded $25,706,429 in losses, marking a 56.6% monthly decline in losses.

Most of the $55.2 million lost in October stemmed from two major projects: Radiant Capital, a DeFi lending protocol, lost $50 million, while the decentralized autonomous organization Tapioca incurred losses of $4.4 million. Additional incidents impacted protocols and platforms like P719, MorphoLabs, Ramses, HYDT, and Fire, with respective losses of $328,000, $230,000, $93,000, $58,000, and $24,000.

Since the start of the year, hacks and rug pulls have cost the crypto sector a total of $1,400,073,177 over 179 incidents, a 1% decrease compared to the same period in 2023, when losses amounted to $1,414,641,935. Immunefi noted that the highest losses in 2024 were recorded in May ($358 million) and July ($281 million).

All losses in October originated from DeFi protocol breaches, accounting for 100% of the sector’s losses.

Bitcoin’s price surged above $72,000 this week,# marking an 8% increase, driven by growing investor interest and expectations of a Republican victory in the upcoming U.S. presidential election. On October 28, new investments into Bitcoin Spot ETFs totaled $479.4 million, with significant contributions from BlackRock and ARK Invest. BlackRock’s fund alone received over $300 million, pushing #BTC back to $70,000 for the first time since July.$BTC

“Whales,” or large investors, are showing strong demand for Bitcoin, with institutional interest now doubling that of retail investors. Additionally, Bitcoin’s open interest in futures reached a high of $42.6 billion, indicating strong upward momentum.

Bitcoin’s price declined by 1.12% over the past 24 hours, closing the U.S. session at $69,259.8. Bitcoin remains dominant with a 59.0% market share and a total market cap of $1.37 trillion. Ethereum follows with a 12.9% market share. Over the past week, Bitcoin rose by 3.53%, while Ethereum gained 1.49%.

Top cryptocurrency prices:

• #Solana : $166.509, down by 1.25%

• Binance Coin: $572.40, down by 0.14%

• Ripple (XRP): $0.5164, up by 1.56%$

• Dogecoin: $0.160377, up by 0.69%

• Shiba Inu: $0.3551, down by 93%

• Cardano: $0.3551, up by 4.12%

Crypto-related stocks:

• Coinbase Global (COIN): Closed at $182.97, up by 2.1%
• MicroStrategy (MSTR): Closed at $229.71, down by 6.0%
• Marathon Digital Holdings (MARA): Closed at $16.11, down by 4.0%
• PayPal (PYPL): Closed at $77.25, down by 2.6%
• Block (SQ): Closed at $72.17, down by 0.2%$BTC $ETH

$BTC

Cryptocurrency gains faded as Wall Street faced a risk-off sentiment, dragging down tech stocks and the broader market. Bitcoin stalled near $70,600, down about 2.35% over the past 24 hours, while Ethereum fell 4.7% and Polkadot dropped around 5%.

Despite the day’s downturn, Bitcoin has risen over 8% this week. Spot Bitcoin ETFs saw strong inflows, with $893 million added on Wednesday, led mainly by BlackRock’s IBIT fund, which attracted $872 million alone.

Traders are preparing for U.S. presidential elections, major economic data, and upcoming earnings reports, looking for clues on potential rate cuts from the Federal Reserve. Analysts at Vital Knowledge noted that U.S. stocks fell amid tech giants’ disappointing earnings, with Meta and Microsoft issuing cautionary revenue forecasts due to rising costs.

Bitcoin’s price declined by 0.90% by the end of the U.S. session, now trading at $71,909.9. The market cap is at $1.42 trillion, with Bitcoin holding a 58.9% market dominance, followed by Ethereum at 13%. Over the past week, Bitcoin rose by 8.55%, and Ethereum by 6.48%.

Current Prices of Popular Cryptocurrencies:

• Solana : $174.596 (-2.12%)$BTC
• Binance Coin: $596.99 (-1.27%)
• Ripple: $0.5221 (-0.86%)
• Dogecoin: $0.168038 (-1.37%)
• Shiba Inu: $0.00001836 (-2.83%)
• Cardano: $0.3553 (+0.63%)

Stocks Related to Cryptocurrencies:

• Coinbase (COIN): $211.74 (-3.6%)
• MicroStrategy (MSTR): $247.31 (-4.2%)
• Marathon Digital (MARA): $18.28 (-3.5%)
• PayPal (PYPL): $78.22 (-2.6%)
• Block (SQ): $73.29 (+0.1%)
#BinanceTurns7

#MarketDownturn

In a new market shift, Dogecoin (DOGE) surged by 14% over the past 24 hours, reaching a four-month high at $0.1684, with its trading volume up by 119%. This rise comes as Bitcoin surpassed the $71,000 mark, renewing interest in meme coins, with DOGE standing out as a major player.

This impressive performance isn’t limited to Dogecoin alone. Other meme coins have benefited from this trend as well. Shiba Inu (SHIB) rose by 9%, PEPE saw an 8% increase, and coins like Wall Street Inu Finance (WIF) and POPCAT climbed by 9% and 11%, respectively. Another dog-inspired coin, FLOKI, also achieved a 9% gain.

Summary:

Dogecoin jumped 14% to a four-month high, driven by Bitcoin’s rise past $71,000, sparking renewed interest in meme coins. Other meme tokens like Shiba Inu, PEPE, Wall Street Inu Finance, POPCAT, and FLOKI also recorded gains between 8-11%.

Translation to English:

MicroStrategy (NASDAQ: MSTR) shares reached a new record high as Bitcoin surpassed the $71,000 mark. This year, MicroStrategy has shown stronger performance than Bitcoin. With increased investments from BlackRock, MicroStrategy’s stock hit its highest level in 24 years.

Read also: U.S. elections push #Bitcoin toward all-time highs, funds record third-highest inflow.

MicroStrategy shares up 470% in 2024
MicroStrategy shares closed at $258 yesterday, marking a 125% increase in September alone and a 470% rise since the start of the year. While Bitcoin has not yet broken its previous levels, MicroStrategy exceeded its previous peak in early October and continued to rise.

Bitcoin’s price increased by over 8% in the last two sessions, nearing an all-time high of around $74,000, last reached in March. Meanwhile, U.S. exchange-traded funds (ETFs) investing in Bitcoin have seen significant net inflows over recent days.

In recent hours, Bitcoin’s price reached $73,525, nearing a historic peak, while other cryptocurrencies like Ethereum, the second-largest digital currency, and Dogecoin, a favorite among meme fans, have also seen gains.

Summary:

MicroStrategy shares reached a record high, outperforming Bitcoin this year with a 470% gain in 2024. As Bitcoin approaches an all-time high of $74,000, U.S. Bitcoin ETFs are experiencing significant inflows, and other cryptocurrencies like Ethereum and Dogecoin are also gaining.#MarketDownturn

Bitcoin’s price rose by the end of the U.S. session, currently trading at $72,307.7, up +3.70% in the last 24 hours. The market cap now stands at $1.43 trillion, according to Investing data. Bitcoin remains the dominant cryptocurrency with a 58.6% market share, followed by Ethereum at 12.9%. Based on today’s closing price, Bitcoin has risen +6.83% over the past seven days, while the leading altcoin, Ethereum, declined by -0.65% in the same period.

Top Cryptocurrency Prices:

•solana : $178.462, +1.30%
• #Binance_Coin : $603.99, +1.31%
• #Ripple : $0.5247, +1.24%
• #Dogecoin : $0.171694, +8.56%
• #Shiba_Inu : $0.00001862, +4.92%
• #Cardano : $0.3512, +2.66%

Crypto-related Stocks:
The movement in cryptocurrencies has directly impacted the prices of Bitcoin mining stocks and stocks highly exposed to Bitcoin and digital assets.

• Coinbase Global Inc (COIN): $219.66, +1.7%
• MicroStrategy (MSTR): $258.24, +1.1%
• Marathon Digital Holdings (MARA): $18.93, -0.1%
• PayPal (PYPL): $80.28, -4.0%
• Block (SQ): $73.22, -1.7%

Summary:

Bitcoin reached $72,307.7, with a market cap of $1.43 trillion and a weekly rise of +6.83%. Ethereum holds a 12.9% market share but dropped -0.65% over the week. Other notable cryptocurrency price movements include Solana, Binance Coin, and Dogecoin. Stocks like Coinbase and MicroStrategy saw gains, while PayPal and Block declined.$SOL $BTC $DOGE

Solana’s trading volume surged significantly, and its price rose midweek as it outperformed Ethereum in daily fees.

Solana (SOL) saw remarkable activity today after surpassing Ethereum and PayPal (PYPL) in several areas. It was the most popular cryptocurrency earlier in the day and remained among the top three by midday UTC, with a 24-hour trading volume of $4 billion.

Solana’s significant trading volume and price increase midweek coincided with it surpassing Ethereum in daily fees. It also exceeded PayPal’s market cap.

As mentioned earlier, Solana recorded massive 24-hour trading volume, far surpassing its closest competitors like Avalanche (AVAX), Toncoin (TON), Tron (TRX), and Cardano (ADA), none of which reached even half a billion dollars in volume despite trading in the hundreds of millions. Despite a 0.7% drop in Solana’s price over the last 24 hours to $174, it remains up about 5.8% weekly. Meanwhile, Bitcoin (BTC) rose 1.5% overnight to $68,652, while Ethereum (ETH) – its closest competitor in functionality – rose 0.6% to $2,509.

Summary:

Solana’s trading volume and price surged midweek, as it outperformed Ethereum in daily fees and exceeded PayPal’s market cap. Recording a 24-hour trading volume of $4 billion, Solana left its competitors far behind. Despite a 0.7% price drop in the last 24 hours, it is up 5.8% over the week. Bitcoin and Ethereum also saw slight gains.

#MarketDownturn #BinanceTurns7 $BTC

Bitcoin’s price rose by 5% early on Tuesday, boosting U.S.-listed cryptocurrency stocks as investors set their sights on new ambitious targets for the original cryptocurrency.

The leading cryptocurrency broke the $71,000 barrier in early Asian trading, lifting the broader market just days before the U.S. elections—an event many traders view as a bullish catalyst for crypto regardless of the outcome.

MicroStrategy (MSTR), the world’s largest Bitcoin supporter, saw its shares jump nearly 9% to around $255. Coinbase (COIN), the largest U.S. crypto exchange, also experienced a strong boost, rebounding to $205 after recovering from its August lows.

Crypto mining companies had a positive day as well, with Riot Platforms (RIOT) shares up over 6.7%, Marathon Digital (MARA) shares rising by 4%, and CleanSpark (CLSK) shares climbing 5.3%, all riding the wave of positive momentum in the crypto market.

This market movement came as U.S. stock indices closed in positive territory, with the Dow Jones rising by 0.7% and both Nasdaq and the S&P 500 up by 0.3%.

Summary:

Bitcoin surged 5% on Tuesday, reaching above $71,000, which lifted U.S.-listed crypto stocks ahead of the U.S. elections. MicroStrategy shares rose nearly 9%, Coinbase rebounded to $205, and crypto miners such as Riot, Marathon Digital, and CleanSpark also saw gains. Meanwhile, major U.S. indices closed higher, with the Dow Jones up 0.7%.

#BinanceTurns7 #MarketDownturn #BNBToken

The new law will allow Russian regions to force miners to shut down cryptocurrency mining platforms during periods of electricity shortages. Russian President Vladimir Putin has signed a new law that will “transfer control” of the Russian cryptocurrency mining registry to the country’s tax authority.

According to a report from Izvestia, the Federal Tax Service (FTS) will now oversee the registry of cryptocurrency mining companies, while miners operating from home are not required to register, provided they do not exceed their allowed energy consumption limits.

Russian Crypto Mining Laws: Moscow Responds Quickly

It is noteworthy that the new law essentially amends a bill that was quickly passed in the State Duma earlier this year, which granted the Ministry of Digital Development control over the registry. However, it seems that the Federal Tax Service concluded that it needed full control over the registry to successfully carry out its mission of taxing cryptocurrency miners.

Summary:

A new Russian law allows regions to require cryptocurrency miners to shut down during electricity shortages. President Putin signed this law, transferring control of the mining registry to the Federal Tax Service (FTS). While home miners are exempt from registration if they stay within energy limits, the law amends a previously passed bill that gave control to the Ministry of Digital Development. The FTS determined it needs full control to effectively tax miners.

ترجمة إنجليزية مختصرة:

Billy Markus, co-founder of Dogecoin and known as “Shibetoshi Nakamoto,” recently expressed his objections on social media towards the U.S. Department of Justice’s (DOJ) handling of prominent figures like former President Donald Trump and Tesla CEO Elon Musk. Markus suggested that the DOJ’s actions have political motives, likening them to authoritarian tactics. This was in response to a tweet by Vice President Kamala Harris, who claimed Trump would use the DOJ to target his opponents if re-elected. Markus argued that the current administration is already using the DOJ in this way.

Markus further defended Musk, accusing media outlets of intentionally distorting his image to turn public opinion against him. Charles Hoskinson, Cardano founder, also joined the conversation, criticizing Harris’s comments and warning against comparisons that fuel division.

Technical Analysis of DOGE/USD:
Dogecoin’s price is testing a key resistance level at $0.1387, aligned with a downward trend line that may limit further gains. A successful breakout could target resistance at $0.1402 and $0.1419, while failure to break through may bring support at $0.1361, followed by $0.1333 and $0.1310. The 50-day Exponential Moving Average (EMA) at $0.1375 offers additional minor support, and the Relative Strength Index (RSI) at 54 suggests the potential for upward momentum if the resistance is breached.

Summary:
Breaking the $0.1387 resistance could trigger an upward movement, while failure may lead to short-term declines.$DOGE