Crypto analyst Ali Martinez has revealed how the Bitcoin price can rise to as high as $86,600, which would mark a new all-time high (ATH) for the flagship crypto. This comes amid BTC’s impressive price rebound, which has brought renewed optimism that the next leg of the bull run is almost here. Bitcoin Price Could Rise To $86,600 If It Breaks This Level Martinez mentioned in an X post that the Bitcoin price could rise to around $86,600 if it can break past $67,400. He indicated that this price target could mark the next potential local top for the flagship crypto. Bitcoin rose past $67,400 and climbed to almost $68,000 on October 15, its highest level since July. Although the Bitcoin price has retraced, there is the belief that it could again retest the $67,400 price target and successfully break above. This could ultimately pave the way for BTC to reach a new ATH and climb to $86,600, as Ali Martinez predicts. Bitcoin currently boasts a bullish outlook from a technical and fundamentals analysis standpoint. The Bitcoin price’s recent rally led to a break above its 200-day moving average (MA), which was around $65,844. Martinez noted earlier that a break above this moving average has always led to parabolic bull runs. Therefore, a break above this 200-day MA indicates that the flagship crypto is well primed for a massive move to the upside. The crypto analyst also recently revealed that Bitcoin’s open interest across all exchanges just hit a new ATH of $19.75 billion. He mentioned that a spike in this metric often signals big price moves ahead, with more capital on the line. Indeed, Bitcoin investors look to be allocating more capital to the flagship crypto as Martinez revealed that over 400,000 BTC ($24 billion) had been withdrawn from exchanges in the past eight months. Cryptoquant’s CEO Ki Young Ju also suggested that there has been an increased demand for the flagship crypto while stating that Bitcoin’s apparent demand is back. This metric guages the difference BTC mined and the supply that has been inactive for a while. When The Rise To $86,000 Could Happen Martinez didn’t provide a timeline for when the rise to $86,000 could happen. However, crypto analyst Mikybull Crypto has provided insights into when the Bitcoin price could enjoy this parabolic rally. The analyst stated in an X post that the wave 5 expansion is set to begin anytime soon. He added that the 22nd of this month of this month is probably when the “real fun” will start. His accompanying chart showed that wave 5 expansion could send the Bitcoin price to around $90,000, even higher than Martinez predicts. At the time of writing, Bitcoin is trading at around $67,000, up over 2% in the last 24 hours, according to data from CoinMarketCap.

Arthur Hayes, the co-founder and former CEO of BitMEX, published an essay titled “Persistent Weak Layer” on October 16, where he examines the potential impact of escalating tensions between Israel and Iran on the crypto markets. Drawing an analogy from avalanche science, Hayes explores how the geopolitical situation in the Middle East could act as a “persistent weak layer” (PWL) that might trigger significant financial market upheavals, affecting Bitcoin and crypto prices. How Will The Crypto Market React? Hayes begins the essay by recounting his recent skiing trip, stating. “One of the scariest conditions is a persistent weak layer (PWL), which could trigger a persistent slab avalanche when stressed. He parallels this to the Middle East’s geopolitical situation post-World War II, suggesting it serves as a PWL atop which the modern global order rests. “The trigger usually has something to do with Israel,” Hayes observes. He emphasizes that the financial markets’ primary concern is how energy prices will respond, the impact on global supply chains, and the potential for a nuclear exchange if hostilities between Israel and another Middle Eastern nation, particularly Iran or its proxies, escalate. Hayes outlines two scenarios. In the first, the Israel-Iran conflict fizzles into minor, tit-for-tat military actions. “Israel continues assassinating folks and decapitating dicks, and the Iranian response is telegraphed, non-threatening missile strikes,” he describes bluntly. No critical infrastructure is destroyed, and there are no nuclear strikes; thus, the PWL holds. In the second scenario, the conflict escalates dramatically, culminating in the destruction of Middle Eastern oil infrastructure, closure of the Straits of Hormuz, or a nuclear attack, leading to the PWL failing and causing an “avalanche in the financial markets.” Expressing his concerns, Hayes states: “War is uninvestable, as they say.” He faces a strategic choice regarding his investment portfolio: whether to continue converting fiat currency into crypto or to reduce his crypto exposure in favor of cash or US Treasury bonds. “I don’t want to be under-allocated if this truly is the start of the next leg higher in the crypto bull market,” he explains. “Still, I also don’t want to incinerate capital if Bitcoin drops 50% in a day because Israel/Iran triggered a persistent slab financial markets’ avalanche. Forget about Bitcoin; it always bounces back; I’m more worried about some of the utter dogshit I have in my portfolio … meme coins.” Buy Or Sell Now? To navigate this dilemma, Hayes conducts a scenario analysis focusing on how the second, more severe scenario could impact crypto markets, particularly Bitcoin, which he refers to as the “crypto reserve asset.” He considers three primary risks: physical destruction of Bitcoin mining rigs, a dramatic rise in energy prices, and monetary implications resulting from the conflict. Regarding the physical destruction of mining infrastructure, Hayes identifies Iran as the only Middle Eastern country with notable Bitcoin mining operations, accounting for up to 7% of the global hash rate. Reflecting on the 2021 scenario when China banned Bitcoin mining, he concludes that even the complete elimination of Iranian mining capacity would have negligible impact on the Bitcoin network and its price. Addressing the risk of a dramatic rise in energy prices, Hayes considers the potential consequences if Iran retaliated by destroying major oil and natural gas fields or closing the Straits of Hormuz. Such actions would cause oil prices to spike, driving up energy costs globally. Hayes argues that this scenario would actually increase Bitcoin’s value in fiat terms. “Bitcoin is stored energy in digital form. Therefore, if energy prices rise, Bitcoin will be worth more in terms of fiat currency,” he explains. He draws historical parallels to the 1970s oil shocks. During the Arab oil embargo of 1973 and the Iranian Revolution of 1979, oil prices surged significantly. “Oil rose 412%, and gold nearly matched its rise at 380%,” Hayes points out. He illustrates that while gold maintained its purchasing power relative to oil, stocks lost substantial value when measured against energy prices. Hayes suggests that Bitcoin, as a form of “hard money,” would similarly preserve its value or even appreciate relative to rising energy costs. Lastly, Hayes examines the monetary implications, particularly how the United States might respond to the conflict financially. He emphasizes that US support for Israel involves providing weapons, funded through increased government borrowing rather than savings. “The US government purchases goods on credit and not from savings,” he highlights, referencing data that shows US national net savings are negative. He questions who will buy this debt and indicates that the Federal Reserve and the US commercial banking system would likely step in, effectively expanding their balance sheets and printing more money. Hayes notes historical instances where negative national savings corresponded with sharp increases in the Federal Reserve’s balance sheet, such as after the 2008 Global Financial Crisis and during the COVID-19 pandemic. “The Fed and the US commercial banking system will buy this debt by printing money and growing their balance sheets,” he asserts. He suggests that this monetary inflation would significantly bolster Bitcoin’s price. “Bitcoin has outperformed the rise in the Fed’s balance sheet by 25,000%,” Hayes emphasizes, indicating Bitcoin’s strong performance relative to monetary base expansion. However, he cautions investors about the potential for intense price volatility and uneven performance across different crypto assets. “Just because Bitcoin will rise over time doesn’t mean there won’t be intense price volatility, nor does it mean every shitcoin will share in the glory,” he warns. Hayes reveals that he had invested in several meme coins but reduced those positions dramatically after Iran launched missile attacks. “When Iran launched its latest barrage of missiles at Israel, I cut those positions dramatically. My size was too big, given the unpredictability of how crypto assets will react to increased hostilities in the short term,” he admits. Currently, he holds only one meme coin, noting, “The only meme coin I own is the Church of Smoking Chicken Fish (symbol: SCF). R’amen.” At press time, BTC traded at $66,907.

The RWA tokenization sector may grow from $185 billion to $30 trillion by 2030. DeFi advancements enhance capital efficiency and lower transaction costs. The real-world asset (RWA) tokenization sector is expected to grow remarkably, with estimates predicting an increase of up to 50 times by 2030. A recent report by Tren Finance indicates that the market size could soar from its current valuation of approximately $185 billion to between $4 trillion and $30 trillion. This shift could significantly reshape traditional investment practices by integrating blockchain technology into financial systems. Tokenization provides a way to digitize physical assets, such as real estate, commodities, and financial securities. Moreover, this process increases liquidity and accessibility, enabling a broader range of investors to join markets that were historically exclusive. Additionally, by breaking down assets into smaller, tradable units, tokenization could further democratize investment opportunities. The sector is not without challenges. Currently, most value within the RWA market is concentrated in stablecoins, which make up over $170 billion. In contrast, tokenized securities and treasuries account for only $2.2 billion. Moreover, this highlights the need for more robust offerings in tokenized assets. Role of DeFi in RWA Tokenization Advancements in decentralized finance (DeFi) play a crucial role in supporting RWA tokenization. By integrating DeFi with RWA tokenization, stakeholders can enhance capital efficiency, allowing for faster transactions and reduced costs. This synergy could lead to new financial instruments and strategies, further expanding the appeal of tokenization Moreover, regulatory considerations are critical as the sector evolves. Ongoing discussions surrounding digital asset regulations will influence how tokenized assets are adopted and traded. Striking a balance between regulatory compliance and fostering innovation is essential for the sector’s long-term viability. Increased regulatory clarity could encourage institutional investment and broader participation in the market. Furthermore, the integration of traditional finance with blockchain technology may accelerate the adoption of RWA tokenization. Major financial institutions are exploring tokenization solutions, signaling a shift in managing traditional assets. Highlighted Crypto News Today Italy Plans to Raise Bitcoin Capital Gains Tax from 26% to 42%

DOGE trades at $0.1267 after registering 11% gain in the last 24 hours. Dogecoin is approaching a key trend line resistance. The meme coin, Dogecoin (DOGE) has witnessed a steady shift from the downtrend. The ongoing price momentum of DOGE suggests a growing bullish trend. In the last 24 hours, the meme token gained over 11.75%. The current price oscillation might take the DOGE price ahead. Looking at the intra-day trading, the meme coin hit a high of $0.1283, and a low of $0.1105. At the time of writing, DOGE trades at $0.1267 with its daily trading volume increased by 96% to $2.11 billion, as per CMC data. Meanwhile, market analysts suggest that Dogecoin is approaching a key trend line resistance on its daily chart. If the price breaches the resistance, it might push the token towards a crucial bullish rally, and that drives the price up by 100% to 200%. On the other side, an analyst states that DOGE seems to follow the same pattern as the previous cycle. The pump of the asset began with four green weeks followed by two red ones. What Lies Ahead for DOGE? DOGE was in positive momentum over the last thirty days. It rallied over 24%, hitting a high of $0.1309. The meme coin continues to trade upside, gaining 14.60% in the last week. The week started trading in red, the asset slipped to a low of $0.1036. The four-hour technical chart of DOGE shows the Moving Average Convergence Divergence (MACD) line positioned above the signal line, inferring a positive trend in the market. Moreover, the daily relative strength index (RSI) is sitting above 75. The short-term 9-day moving average is found above the long-term 21-day moving average. Meanwhile, DOGE has breached its significant resistance level at $0.1234. If the upside correction persists, the meme coin will likely test the nearby resistance at $0.1289 and might trigger a rally forward. Conversely, if the token fails to withstand the upside momentum, DOGE may slip to its recent low at $0.1177. Highlighted Crypto News Metaplanet Rolls Up Bitcoin Put Options Netting 5.90 BTC in Profit

London, UK, October 16th, 2024, Chainwire Polkadot drives forward ecosystem-wide transformation with 24/7 hacking and masterclasses from industry greats. WebZero, a global event and DevRel force is presenting sub0 reset, the leading developer conference for the Polkadot & Substrate ecosystem from November 9-11, 2024, in Bangkok, Thailand. sub0 reset is the first and only Substrate development conference, bringing together the best developers and builders of Web3 in a spectacular five-floor industrial venue, complete with a rooftop beach and catering and drinks from a private chef. Attendees will have the chance to learn from industry legends, including senior figures from the Web3 Foundation and founders of Polkadot, as well as meet like-minded partners to build next-generation apps and tools with Substrate in our 24/7 hackspace. Attendees can expect to learn about the latest projects building with Substrate, how to build with Substrate’s modular SDK and other emerging components in the Polkadot tech stack, with industry leaders such as Polkadot co-founder Robert Habermeier, Mythical Games founder John Linden and Nova Wallet founder Anton Khvorov taking to the stage and sharing their wisdom with guests throughout the 3-day event. sub0 kicks off with a dedicated education day, ranging from no-holds-barred analysis of the state of Web3, to barcamp deep-dives on building on Substrate. Day two is Modularity Day, with discussions from leading innovators at Avail, R0gue, Midnight and Parity. Day three is JAM & Scalability day, building out Polkadot’s founder Gavin Wood’s vision to transform the ecosystem into the world’s first global computer. The venue’s 24/7 hackerspace will give new teams the chance to co-work and compete for 10k USD in bounties. Practical details Sub0 reset is taking place at 127 Na Ranong Rd, Khlong Toei, Bangkok from 9-11 November, 2024. A limited supply of free tickets for sub0 reset are available here. The event runs from 10 AM until late each day, make sure to subscribe to the WebZero Luma for full scheduling opportunities. The hackerspace runs 24 hours a day, ensuring developers can build at all hours of the night with food and beverages provided free of charge. Media lounge and recording rooms are provided. For any further media enquiries, users can contact [email protected] ABOUT WEebZero WebZero is a developer experience builder that is establishing a hybrid between event production and developer relations, based on its own unique vision and methodology. Contact Comms/PR manager Jonathan Duran Distractive [email protected]

Sinagpore, Singapore, October 16th, 2024, Chainwire Unite, the pioneering Layer 3 blockchain solution built on Base, is excited to announce a strategic partnership with Eigen Labs to incorporate EigenDA, a leading data availability solution provider, into the infrastructure that powers the next generation of mobile games. As the first Layer 3 blockchain tailored specifically for mass-market mobile games, Unite is focused on delivering seamless, high-performance experiences to the nearly 3 billion active mobile players. To achieve this mass-market scale, the partnership with EigenDA will integrate their cutting-edge data availability solutions into Unite’s Layer 3 chain, making launching and operating a web3 mobile game dramatically more efficient at scale. EigenDA’s data availability solution delivers hyper scalability, ensuring high throughput and seamless scaling as demand increases. It’s extremely efficient, and continues to drive gas fees closer to zero. The solution leverages Ethereum’s Layer 1 security via EigenLayer, making it robust and reliable. By aligning with Ethereum’s ecosystem, EigenDA enhances rollup scalability without data availability constraints. These features make EigenDA the ideal partner for Unite, enabling the handling of large transaction volumes and in-game interactions, allowing game developers to focus on innovation and growth. The partnership between Unite and Eigen Labs marks a significant milestone in building the future of blockchain-powered mobile games with the potential to compete with leading web2 mobile games, which serve billions of users, and drive nearly $100B in annual revenue. Bringing together two industry leaders committed to driving innovation and mass adoption of web3. For more information, users can visit Unite.io and Eigenda.xyz. About Unite Unite is on a mission to build the first Layer 3 blockchain solution for mass-market mobile games, targeting the 2.8 billion players and the $90 billion revenue generated from the mobile game market. Focused on enhancing player experience with in-game earning capabilities, Unite offers a comprehensive L3 solution encompassing chain, client, ecosystem and establishing a decentralized physical infrastructure (DePin) built on billions of daily active mobile devices worldwide. Founded by veterans in mobile, gaming and web3 infrastructure who served as founders and executives of some of the biggest names, Unite is leading the innovation to the mobile games. For more information, users can visit Unite’s official website, or follow Unite on X, and join Discord community. About EigenLayer EigenLayer provides developers access to the Ethereum restaked capital base and decentralized validator set. Access to this trust network makes previously impossible mechanism designs possible in the form of Actively Validated Services (AVSs). EigenDA is the first AVS, building the most scalable, secure, and price-performant data availability layer. EigenLayer is backed by top investors including Polychain Capital, Blockchain Capital, Ethereal Ventures, Electrical Capital, and a16z crypto. Contact Di Chen [email protected]

Italy is raising the capital gains tax on Bitcoin and other cryptocurrencies from 26% to 42%. This decision is part of Italy’s 2025 budget plan to generate around 4 billion euros ($4.35 billion) in revenue. As countries all over the world are mulling over imposing stringent digital currency regulations, Italy has decided to increase its capital gains tax on Bitcoin (BTC) from 26% to 42%. Vice Economy Minister Maurizio Leo announced this change during a press conference discussing the country’s budget for 2025. This announcement comes after measures approved by the Council of Ministers on Tuesday evening, which are intended to generate resources to support families, youth, and businesses. Since the 2023 tax year, the government has taxed capital gains from Bitcoin exceeding €2,000 (about $2,180) at 26%. This change shifted the treatment of cryptocurrencies from foreign currency, which had lower tax rates. However, this current tax hike is part of Italy’s broader plan to raise approximately 4 billion euros ($4.35 billion) in 2025, targeting various sectors, including banks and gaming licenses. Economic Pressures Prompt New Tax Strategies in Italy The government is facing economic challenges, highlighted by a recent drop in inflation to below 1% in September. This low inflation rate underscores the urgency for the government to identify new revenue sources to enhance its economy Further, the reports indicate that the UK may also raise capital gains taxes on digital assets. The current rate is 20%, and it could increase to as high as 39%. With this new tax, Italy will now have one of the highest capital gains taxes on cryptocurrencies worldwide. For comparison, Germany taxes Bitcoin gains if sold within a year of acquisition but offers tax-free status for holdings longer than a year up to €600. India enforces a flat 30% tax on realized crypto gains, making it one of the strictest tax regimes globally. Highlighted Crypto News Today Solana Sustains Its Price Above $155 Amid Increased Volatility

Tron Network’s revenue grew 170% year-on-year, reaching $7.28 million. Increased DeFi and stablecoin transactions boosted Tron’s user base and activity. Tron Network has achieved impressive growth in 2024, as reported by monitoring platforms TechFlow and Lookonchain. As of mid-October, the network recorded a revenue of $7.28 million, a significant 170% increase compared to the $2.69 million generated during the same period last year. This surge in revenue reflects the rising adoption of the Tron ecosystem, which is expanding its footprint in the blockchain space. Several factors have been reported to contribute to this growth. Tron has seen a substantial increase in its user base, driven by a stronger focus on decentralized finance (DeFi) and stablecoin transactions, particularly with Tether (USDT). The network’s capacity to process high transaction volumes while maintaining low fees has made it a popular choice for both developers and users. Additionally, Tron has benefited from increased staking participation and token-burning mechanisms, which have bolstered the network’s overall value. Moreover, innovative developments, such as Tron’s engagement with the memecoin market through its SunPump memecoin deployer, have also played a role in boosting its revenue. The network’s growing influence in emerging markets and financial applications further underscores its potential for sustained expansion. What The Future looks like? The Tron community believes this impressive performance highlights Tron’s growing relevance in the blockchain world. It positions it as a major competitor to networks like Ethereum and Bitcoin in terms of both revenue and utility. As blockchain technology continues to evolve, Tron’s ecosystem is well-poised to maintain its upward trajectory. Meanwhile, its native token TRX is trading at $0.1595 with a modest 0.71% surge and the trading volume is up 2.47% in the same timeline. In a week , it is down 0.45%. Highlighted News Of The Day Metaplanet Rolls Up Bitcoin Put Options Netting 5.90 BTC in Profit

Solana has exhibited an additional 2.78% price increase in the last 24 hours. The altcoin momentarily hit a high of $158 since the beginning of October 1. The cryptocurrency market pendulum has prolonged its stay on the bullish end as price actions have continued to remain positive in the past week. Overall crypto market has recorded positive market cap and daily trading volume movements, particularly in the last 24 hours. Similarly, the prominent altcoin Solana has also retained on the bullish end. Meanwhile, other cryptocurrencies such as Bitcoin and Ethereum have shown progressive growth, reaching their previous trading levels. Solana has factored in a price increase of 2.78% in the past day despite strong bull-bear combats at the $155 level. The altcoin had entered a price slump a few weeks ago and slipped out of investor attention. However, in the past few days, the token’s surpassing $150 for the first time in October and its price actions have garnered the sector’s spotlight. In the Asian evening hours of October 15, Solana was trading at $153. As the day progressed, prices moved upward to hit a 16-day high of $158.41. At the time of writing, SOL was trading at $156.33 according to CMC data. On the other hand, when inferring the altcoin’s daily price chart it has shown increased volatility. This is further highlighted by the RVI standing at 54.93 as per TradingView data. Solana’s bulls and bears have staged combats specifically in the past day as prices flitted between $150 and the aforementioned high of $158. Is a Solana Price of $160 on the Horizon? As the bull market continues to set up fort, crypto analysts are expecting higher trading levels for leading cryptocurrencies. On these lines, Solana has begun to show signs of bullish price breakouts in the past few days. The token’s short-term 9-day MA has moved closer to the long-term 21-day MA awaiting a bullish crossover. If the current positive momentum sustains then the altcoin bullish crossover can be expected to occur. Additionally, the recent upward movement has resulted in a buying market sentiment as highlighted by the RSI standing at 60.47, traversing from a recent oversold situation. Finally, on the last day, several Solana-based memecoins such as Book of Meme and Myro had shown significant growth on October 15.

Ethereum surged to $2,684, but now faces potential selling pressure. Increased exchange deposits signal profit-taking and potential price correction. Ethereum surged to a 16-day high of $2,684, bolstered by a wave of bullish momentum over the past week, gaining 8%. The rally mirrors Bitcoin’s recent rise above $68,000, pushing Ethereum to peak levels. However, as of today, Ethereum has pulled back slightly, trading at $2,623, with new signs indicating possible downside risks. On Monday, Ethereum broke through the significant resistance level at $2,579, causing older, long-dormant coins to re-enter the market. Data shows a surge in activity from long-term holders, who have started moving their holdings, with the age consumed metric skyrocketing by over 400%. This renewed activity suggests that many investors are now seeking opportunities to take profits. However, a notable increase in Ethereum’s netflow to exchanges suggests that a significant portion of these moved coins is being sent to trading platforms. This shift in activity often precedes heightened selling pressure. It is as investors typically transfer assets to exchanges when they are preparing to sell. Over 51,000 ETH, worth more than $135 million, was transferred to exchanges on Monday, highlighting this trend. If this selling pressure continues to build, Ethereum’s price could face a correction, potentially falling toward the $2,579 support level. Should this level fail to hold, Ethereum could experience a further decline to around $2,320, representing a 10% drop from current prices. Investors To Remain Cautioned? Additionally, a rise in Ethereum’s exchange supply and reserve levels points toward increasing investor caution, as more ETH is being deposited into exchanges, likely in preparation for sales. This could result in a further price dip if the trend intensifies. Long-term holders, currently facing losses, may contribute to the pressure as they seek to minimize risks. In conclusion, while Ethereum’s recent rally has been strong, rising exchange activity and profit-taking suggest that the cryptocurrency could face short-term corrections. Investors should monitor key support levels as the market adjusts.

John Deaton argued for balanced crypto regulations to support innovation. Elizabeth Warren called for stricter regulations to prevent illegal activities and environmental harm. John Deaton and Elizabeth Warren engaged in a Senate debate on cryptocurrency regulations, showing clear differences in their views. Deaton, a crypto advocate, argued for a balanced approach. He warned that over-regulation could stop innovation in the sector. He pointed to Bitcoin and XRP as examples of crypto’s ability to transform finance. Deaton said clear guidelines, not restrictive policies, would help the U.S. remain competitive. He also argued that too much caution could drive innovation out of the country. Elizabeth Warren held firm in her stance against cryptocurrencies. She raised concerns about the risks they bring. She warned that digital currencies could enable illegal activities like money laundering and fraud. Warren also highlighted the environmental impact of Bitcoin mining. She pointed out its harm to efforts against climate change. Contrasting Crypto Stances Warren said the crypto industry has done little to fix these issues. She called for strict regulations to protect consumers. A significant point of contention in the debate was the funding behind Deaton’s campaign. Warren claimed that 90% of his campaign funding comes from the crypto industry, suggesting a conflict of interest. Deaton responded by stating, “I’ve upset more crypto billionaires than anyone,” emphasizing his independence from the industry’s influence. He further defended his record by pointing to his legal battles against the SEC. Deaton’s view matches those who believe in promoting innovation. He argued that cryptocurrencies can offer financial freedom. He also said they can expand access to banking services. In contrast, Warren’s stance appeals to those concerned about consumer protection. She also worries about the environmental effects of crypto. She warned that rapid crypto growth without oversight could cause financial instability. This debate reflects the larger national argument over how to regulate the industry. As the U.S. elections approach, this debate may shape voters’ opinions. Deaton’s pro-crypto stance might attract tech enthusiasts and the crypto community. On the other hand, Warren’s warnings could appeal to voters who prioritize safety and the environment. Both Deaton and Warren remain key voices in the crypto debate. They each represent a different future for the industry. Their disagreement shows how important cryptocurrency has become in U.S. politics. Highlighted Crypto News Today Metaplanet Rolls Up Bitcoin Put Options Netting 5.90 BTC in Profit

Metaplanet updated the strike price to $66K from $62K. The firm’s total holdings reached 861.387 BTC. Japanese investment firm Metaplanet has increased its Bitcoin put options, adjusting the strike price to $66K from $62K. The maturity date is set for December 27, 2024. Simon Gerovich, CEO of Metaplanet, announced that this move is expected to boost Metaplanet’s option sale yield and generate an additional premium income of 57.9 million yen ($388,123). It brought a total premium income for the year to 272.5 million yen ($1.83 million). In early October, Metaplanet announced that it had entered a Bitcoin put options transaction with Singaporean digital asset trading firm, QCP Capital. It further clarifies that the firm sold 223 Bitcoin put options contracts with a $62,000 strike price expiring by this year’s end. This enables the company to increase the nominal yield by 2.65% to 13.40%. Recent Moves of Metaplanet Metaplanet’s stock price has surged by 7%, suggesting a positive response in the market towards their strategic financial decisions. Meanwhile, the firm has been on a BTC buying spree after adopting Bitcoin as its strategic reserve asset. On Tuesday, the firm announced the purchase of an additional 106.976 BTC worth about 1 billion yen ($6.7 million). The recent transaction generated an additional net income of 5.9095 Bitcoin, emphasizing the firm’s financial position without changing the intended fund usage allocated for potential BTC purchases. It eventually raised the firm’s total holdings to 861.387 BTC with the aggregated amount purchased at 8.022 billion yen. On the other hand, Metaplanet has earned the nickname Asia’s MicroStrategy for its consistent BTC acquisitions. The firm increased its Bitcoin reserves in May 2024 as a strategic response to the economic difficulties of Japan and considering the yen’s volatility. Besides, the largest cryptocurrency Bitcoin (BTC) has recovered from the recent dips, trading at $67.6K with gains of over 2.90%, over the past 24 hours. The assets trading volume has increased by 30.95% to $50.64 billion. Highlighted Crypto News Will These Triggers Propel Bitcoin into an Uptober Rally?

A leading analyst has forecasted that Shiba Inu may surge by 400%, elevating its price to $0.000074. This prospective increase is supported by recent price movements and significant technical indicators. Shiba Inu has experienced a consistent increase, presently trading at $0.00001805 following a brief decline to the $0.000016 area last week. Although its gains have been less substantial than those of other meme tokens, observers believe SHIB is poised for a significant rebound imminently. TradingView expert Without Worries has recommended that this is an opportune moment to initiate a long position in Shiba Inu. Despite a 70% decline in the token since March, numerous positive indicators have surfaced, such as RSI breakouts and trend reversals. Shiba Inu Price: How Big Is The Projected Increase? Shiba Inu might rise 400% to $0.000074, according to the researcher. SHIB made a fourfold increase to $0.000045 early this year, which matches this estimate. Notwithstanding the optimism, the analyst saw the potential for additional corrections regarding Shiba Inu. Investors must remain cognizant of possible obstacles ahead. Resistance Levels Shiba Inu is currently facing resistance at $0.00001865. It has already broken through this level to reach an intraday high of $0.00001893. The next levels of resistance are $0.00001969 and $0.00002094. The present technical analysis for SHIB forecasts a price escalation of 0.74%, aiming for $0.00001802 by November 14, 2024. Strong market mood supports this forecast, as shown by the Fear & Greed Index, which sits at 65 and denotes investor greed. Time To Buy The Meme Coin? In the preceding month, Shiba Inu experienced 15 green days out of 30, resulting in a 50% positive performance rate, and shown a price volatility of 12.02%. These facts indicate that the present may be a favorable opportunity for investors to contemplate acquiring SHIB. The optimistic sentiment and substantial anticipated expansion underscore robust market interest in the meme coin from a technical standpoint. The Fear & Greed Index residing in the greed zone may suggest possibilities for price appreciation, although it also warrants caution for probable corrections. It is crucial for traders to monitor important support levels at $0.000018 and resistance levels at $0.000019 while navigating this volatile market environment. Shiba Inu is a promising investment due to its performance and expectations. Featured image from Getty Images, chart from TradingView

An analyst has explained how this Bitcoin on-chain indicator has been one of the best in terms of short-term trading during the past month. Bitcoin Short-Term Holder Realized Price Has Proven To Be Reliable Recently In a new post on X, CryptoQuant Community Manager Maartunn has discussed about an indicator that’s suited for doing day-to-day BTC trading. The metric in question is the Realized Price of the short-term holders. The “Realized Price” here refers to an indicator that, in short, keeps track of the cost basis of the average investor or address on the Bitcoin network. When the spot price of the coin is greater than this metric, the holders as a whole are in a state of net profit. On the other hand, it being under the indicator suggests the dominance of loss in the market. In the context of the current topic, the Realized Price of only a particular segment of the sector is of interest: the short-term holders (STHs). The STHs are made up of the investors who purchased their coins within the past 155 days. This cohort corresponds to one of the two main divisions of the Bitcoin market done on the basis of holding time, with the other group being known as the long-term holders (LTHs). Now, here is the chart shared by the analyst that shows the trend in the Bitcoin STH Realized Price over the past month: In the above graph, Maartunn has highlighted all the instances where the Bitcoin price made a retest of the STH Realized Price during this window. It would appear that the line has acted as both support and resistance for the asset. The cryptocurrency finding a break above the line has turned it into support, while it falling under has led to the level changing into resistance. This is actually a pattern that the STH Realized Price has displayed throughout history, not just the past month. As for why the indicator shows such interactions with the coin’s price, the answer may lie in investor psychology. The STHs tend to include the most fickle-minded investors in the market and they are particularly sensitive to retests of their cost basis. When Bitcoin retests their Realized Price from above, they may decide to buy more of the asset, as they could believe that the same level would prove to be profitable again in the future. This accumulation provides support to the BTC price. Similarly, the STHs can sell as a reaction to a retest from below, as they may fear that they would go into losses once more in the near term, so exiting at the break-even would at least give them their money back. While the Bitcoin STH Realized Price does tend to carry some reliability, it can also show some deviations. As the analyst has marked in the chart, one such outlier instance occurred just earlier in the month. BTC Price At the time of writing, Bitcoin is floating around $65,700, up more than 5% over the last seven days.

Bitfinex hackers, Lichtenstein and his wife’s prison sentence have come up for discussion. The exchange lost $6 billion worth of Bitcoins in the 2016 hack. In an interesting turn of events, the hackers behind Bitfinex 2016 major hack penalties were discussed by the US government. The 2016 hack was an enormous security breach that caught market attention and has still been discussed. Several other security concerns have also risen in the past few months. Notably, in a Tuesday court filing, the US government has advocated that the hacker Ilya Lichtenstein and his wife Heather Morgan spend five years in prison for their illicit activities. Following this, they recommended three years of supervised release, where the hacker stays under authorities’ patrol. Additionally, the filing also stated that Lichtenstein must spend more time in prison than his rapper-wife. Morgan, who dubbed herself as the “Crocodile of Wall Street” was recommended for an 18-month prison time by prosecutors. The Bitfinex hack witnessed a loss of $6 billion in funds that caused major havoc. In 2023, Liechtenstein and his wife pleaded guilty to money laundering the 120,000 Bitcoin from the hack. They were arrested in 2022, during which time authorities seized 95,000 of the stolen Bitcoins. Following this, the government also recovered an additional $475 million lost in the Bitfinex hack. Additionally, Lichtenstein’s sentence has been reduced due to his cooperation with the government in other cases. How Has Bitfinex Combated Security Issues? Since the hack in 2016, Bitfinex has encountered other security-based challenges. In January 2024, the exchange’s CTO exhibited an XRP-related attack that was prevented. According to CTO Paolo Ardoino, a wallet attempting to transfer $15 billion worth of XRP was rejected, preventing the attack. However, in the more recent May, the exchange once again faced a major data breach. According to reports, sensitive data of more than 40,000 customers were revealed. Despite such mishaps, the exchange has managed to retain its place within the crypto community. The recent recovery of funds from the 2016 hacks has also led to positive sentiments in the market. However, during the hack, the crypto community faced major losses apart from Bitcoin’s price fluctuations caused by the incident. Highlighted Crypto News Today: Trump Leads Harris in Betting Odds for 2024 Presidential Election

Bitcoin has seen a significant price movement today, reaching a high of $67,803, breaking above a descending falling wedge pattern on the daily chart. While this breakout has captured attention, Bitcoin is yet to close a daily candle above this resistance, which would confirm the breakout as successful. Regardless, this development has sparked fresh analyses from prominent crypto commentators, many of whom are now sharing their latest insights on the next target for Bitcoin following this pattern breakout. Analysts Weigh In On Bitcoin Wedge Pattern Breakout A CryptoQuant analyst, known by the pseudonym Papi, referred to the falling wedge pattern as the 2024 “nope zone” in a recent post. Papi stated, “2024’s Nope Zone is undefeated. For now. Will this time be different?” He pointed out that this is the first time Bitcoin has retested the price successfully above the “nope zone” on a four-day chart. The analyst also mentioned that high open interest (OI) and ETF flows showed bullish signals, although net flows on derivative exchanges remained neutral. “Even if we don’t break out this time, we are getting very close,” Papi added, emphasizing the importance of dollar-cost averaging during this period of consolidation. He also highlighted the support levels at $60,000 and the mid-$50,000 range as strong backstops in case of any pullback. Road to $90,000? Despite the initial breakout, Bitcoin has faced a minor correction, trading at $66,047, up by 0.2% in the past 24 hours. This small pullback has not deterred analysts from making bullish predictions. Captain Faibik, another well-known crypto analyst, took to X to comment on Bitcoin’s price movement. He noted, “So far, so good… Bitcoin is once again heading towards the $68k crucial resistance. A successful wedge breakout could send Bitcoin to $88k-$90k in November.” Faibik remains optimistic, anticipating a larger move upwards if BTC can clear this key resistance level. Similarly, another prominent analyst, RektCapital, shared his perspective on the current price action. RektCapital pointed to Bitcoin’s historical rejections from the downtrending channel top, noting that previous pullbacks were progressively deeper. The analyst added: “This current rejection is Bitcoin’s first chance to show that this downtrending channel top resistance is weakening as a point of rejection.” Featured image created with DALL-E, Chart from TradingView

High-frequency trading (HFT) is a term that’s often used in the financial world, especially in stock markets and cryptocurrency trading. It refers to a trading strategy that executes a large number of orders at incredibly fast speeds, often within milliseconds. This type of trading takes advantage of small price differences that occur in the market. It’s all about speed and precision, and this is where trading bots come into play. Trading bots make HFT possible because they can execute trades far faster than any human ever could. In this essay, we’ll explore the role of trading bots in high-frequency trading, how they benefit traders, and why they’re a critical tool in the world of finance. We’ll also introduce ValueZone AI, an advanced platform offering AI-powered trading bots, and explain how you can start using these bots to improve your trading strategy. What Are Trading Bots? Trading bots are automated software programs that can execute trades on your behalf. They are programmed to follow specific strategies and rules, making decisions based on market data and trends. These bots can trade at lightning-fast speeds and can work around the clock without getting tired or emotional. In high-frequency trading, the speed of these bots gives traders a huge advantage. The Basics of High-Frequency Trading (HFT) High-frequency trading is all about taking advantage of very small price movements. These price movements happen in fractions of a second and are often missed by regular traders. But HFT bots can detect these tiny changes and make a profit by buying and selling at just the right moment. For example, imagine a cryptocurrency that is priced at $100. An HFT bot might notice a brief moment when the price drops to $99.95. The bot would instantly buy at $99.95 and sell as soon as the price goes back to $100. This small price difference might not seem like much, but if the bot repeats this process thousands of times in a single day, it can generate significant profits. Why Trading Bots Are Essential for HFT There are several reasons why trading bots are crucial for high-frequency trading: Speed The most obvious advantage is speed. Human traders simply can’t keep up with the rapid changes in the market. Trading bots can react to market movements in milliseconds, which is essential for HFT strategies. Without bots, traders would miss out on profitable opportunities because they couldn’t execute trades quickly enough. Accuracy HFT requires precision. A slight delay in executing a trade can lead to missed opportunities or even losses. Bots are programmed to follow specific instructions to the letter, ensuring that trades are executed exactly as planned. This level of accuracy is impossible for human traders to achieve. Volume High-frequency trading involves making a large number of trades in a very short time. A human trader might be able to execute a few trades per minute, but a bot can execute thousands of trades in the same time period. This high volume of trades allows HFT strategies to be profitable, even if each individual trade only earns a tiny amount. 24/7 Operation Crypto markets are open 24 hours a day, 7 days a week. No human can stay awake and alert for that long, but a trading bot can. Bots can monitor the market continuously and make trades at any time of day or night. This is especially important in HFT, where even a small delay can result in missed opportunities. The Benefits of Using Trading Bots for HFT Trading bots, particularly for high-frequency trading, offer several key benefits: Increased Profit Potential Because trading bots can execute trades faster and more accurately than humans, they can capitalize on market opportunities that would otherwise be missed. This means more profit potential for traders. Reduced Risk of Human Error Human traders are prone to making mistakes, especially when they’re under pressure or tired. Trading bots don’t get tired or stressed, and they don’t make emotional decisions. This reduces the risk of costly errors. Consistency Trading bots follow the same strategy every time. This consistency can be a huge advantage in HFT, where following a well-defined plan is crucial to success. Time-Saving For traders, time is money. Using a trading bot allows traders to focus on other aspects of their life or business while the bot handles the trades. This is especially useful for high-frequency trading, where the bot needs to be working around the clock to maximize profits. Why ValueZone AI Is the Best Choice for HFT When it comes to high-frequency trading, ValueZone AI is one of the best platforms available. ValueZone AI offers powerful AI trading bots that are specifically designed for fast, accurate, and profitable trading. Here are some of the reasons why ValueZone AI stands out: Advanced AI Technology ValueZone AI uses advanced algorithms to make sure its trading bots are as fast and accurate as possible. The AI technology behind these bots allows them to learn from past trades and improve their strategies over time. This means that the longer you use a bot, the smarter and more profitable it becomes. User-Friendly Interface Even though high-frequency trading sounds complex, ValueZone AI makes it easy for anyone to get started. The platform is designed to be user-friendly, so even if you’re new to trading, you can quickly set up a bot and start trading in minutes. Customizable Strategies With ValueZone AI, you can customize your trading bot’s strategy to suit your personal trading goals. Whether you’re looking to trade aggressively or conservatively, the platform gives you the tools to tailor your bot to your needs. Affordable Plans One of the best things about ValueZone AI is that it offers affordable plans for traders at all levels. You don’t need to have a large budget to start trading with a bot. You can try out the AI Crypto Bot Free Experience for just $50, which gives you a day of trading and a daily profit of $1. As you grow more comfortable with the platform, you can upgrade to more advanced plans for higher profits. How to Sign Up for ValueZone AI Signing up for ValueZone AI is quick and easy. Here’s how you can get started: Create an Account : Go to the ValueZone AI website and sign up using your email. The process is simple and takes just a few minutes. Claim Your $50 Free Bonus: New users can enjoy a $50 bonus, which allows you to test the bot without risking your own money Affiliate 3.5% Referral Program: Earn extra by referring friends and family. You’ll get a 3.5% bonus on their trading fees when they sign up using your referral link! Free Experience of Trading Bot Trials: Before making any big commitment, try out the trading bots for free with special trial plans, allowing you to get comfortable with how they work. Choose a Plan : Browse the different plans available on ValueZone AI. If you’re just starting out, you might want to begin with the AI Crypto Bot Free Experience, which is a great option for beginners. AI High-Frequency Trading Strategies: Invest $100 for 2 days and earn $4 daily. AI Statistical Arbitrage Strategies: Invest $500 for 3 days and earn $5.50 daily. AI Cross Market Arbitrage Strategy: Invest $1500 for 7 days and earn $18 daily. AI Short-Term CTA Strategy: Invest $3000 for 10 days and earn $39 daily. AI Short-Term Alpha Strategy: Invest $5000 for 15 days and earn $70 daily. AI Trend Following Strategy: Invest $8000 for 15 days and earn $120 daily. AI Quantitative Hedging Strategy: Invest $15,000 for 25 days and earn $240 daily. AI Dynamic Portfolio Strategy: Invest $23,000 for 25 days and earn $391 daily. AI Capital Weighted Portfolio Strategy: Invest $35,000 for 30 days, earn $630 daily. AI Momentum Investment Strategy: Invest $50,000 for 30 days and earn $950 daily. AI Growth Investment Strategy: Invest $100,000 for 45 days and earn $2000 daily. Link Your Exchange Account After choosing your plan, connect your cryptocurrency exchange account to ValueZone AI using secure API keys. This will allow the bot to trade on your behalf while keeping your funds safe. Set Up Your Bot Once your account is linked, you can set up your trading bot. Customize the settings based on your trading goals and risk tolerance, and let the bot start working for you. Start Trading Once your bot is set up, it will begin trading automatically. You can monitor its performance, make adjustments, and watch your profits grow. Conclusion Trading bots are essential tools in the world of high-frequency trading. They offer speed, accuracy, and volume that human traders simply can’t match. If you’re looking to get into high-frequency trading or just want to automate your trades, ValueZone AI is the perfect platform to help you succeed. With advanced AI technology, customizable strategies, and affordable plans, ValueZone AI makes it easy for anyone to start profiting from high-frequency trading. By using ValueZone AI, you can take your trading to the next level and enjoy the benefits of faster, smarter, and more profitable trades. Sign up today and see how a trading bot can help you achieve your financial goals. Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Trump leads Harris in betting odds for the 2024 election. Traditional polls show Harris ahead, but historical biases affect predictions Former U.S. President Donald Trump has surged ahead in betting odds for the upcoming presidential election, holding a 16% lead over Democratic candidate Kamala Harris on the decentralized prediction market platform, Polymarket. As of Tuesday night, Trump’s odds of winning stood at 57.9%, while Harris’ chances were at 41.8%. This market has seen significant activity, with over $1.92 billion in total volume for bets on the 2024 election winner. Harris held the lead for much of September, but Trump reclaimed the top position at the beginning of October, widening the gap between the two candidates. This shift in betting sentiment contrasts with traditional polling, where Harris leads with an average of 48.5% to Trump’s 46.1%, according to a national poll aggregate from FiveThirtyEight. Analysts at Bernstein caution that historical data suggests polls may have underestimated Trump’s support in the past. Meanwhile, Bernstein analysts also raised questions about potential bias in Polymarket, suggesting that the platform may favor Republican candidates like Trump, who has publicly championed cryptocurrencies. Nonetheless, they emphasized that users on these platforms tend to place bets based on perceived probabilities rather than personal bias. Competing Crypto Strategies In a notable development, Trump announced on Tuesday that World Liberty Financial, a decentralized finance (DeFi) protocol he supports, successfully sold over 610 million tokens during its public sale that commenced the same day. Meanwhile, Harris, who has remained relatively silent on crypto matters, recently expressed her commitment to establishing a regulatory framework aimed at protecting Black men who invest in cryptocurrency. This initiative is part of her broader proposal to enhance wealth-building opportunities for Black communities. As the election race heats up, the intersection of politics and cryptocurrency continues to shape the discourse, with both candidates navigating an evolving landscape of voter sentiment and investment priorities. Highlighted News Of The Day Cosmos Hub Builder AiB Issues Emergency Security Alert For LSM

Coinbase has filed for partial summary judgment against the SEC over its three-year delay in cryptocurrency classification requests. The motion seeks to compel the SEC to disclose documents on its stance regarding cryptocurrencies like Ether. The leading crypto exchangeCoinbase is taking a bold step against the U.S. Securities and Exchange Commission (SEC) by filing for partial summary judgment in an ongoing legal battle. This move follows the SEC’s denial of Coinbase’s requests for information regarding its cryptocurrency classification, particularly concerning whether assets like Ethereum (ETH) are considered securities. Further, the exchange’s legal team has enlisted the help of History Associates Inc. to clarify the SEC’s enforcement strategy, aiming to access internal communications and documents that could shed light on the agency’s approach to crypto regulations. (Source: Ctfassets) In its Oct 15 filing, Coinbase highlights that the SEC has been obstructing its efforts to obtain crucial information through the Freedom of Information Act (FOIA). The SEC is now seeking a three-year period to review the requested documents, which Coinbase argues is an unreasonable delay. Also, major players like Kraken, Binance, and Crypto.com facing increased scrutiny. However, Coinbase’s determination to challenge the SEC could have far-reaching implications for the entire cryptocurrency industry. This legal confrontation is pivotal, not just for Coinbase but for all entities navigating the complex regulatory landscape of digital assets. The outcome could reevaluate how cryptocurrencies are classified and regulated, potentially paving the way for clearer guidelines in the future. Highlighted Crypto News Will These Triggers Propel Bitcoin into an Uptober Rally?

Up to 20% more ASIC performance may be achieved with its specialized Kaspa software. Kaspa’s low energy usage, strong decentralization, and enormous scalability are all intended to promote fair mining. Bitcoin hashing power marketplace NiceHash recently announced the release of the first firmware created exclusively for Kaspa network mining. Up to 20% more ASIC performance may be achieved with its specialized Kaspa software. Kaspa’s low energy usage, strong decentralization, and enormous scalability are all intended to promote fair mining. The network’s distinctive PoW architecture and usage of the GhostDAG protocol, which allows numerous blocks to coexist, have made it a popular option for solo miners who can now optimize their profits by deploying NiceHash firmware. The Antminer KS series of ASICs is compatible with the Kaspa firmware created by NiceHash. By raising hashrate and decreasing power consumption, it enhances performance. Conversely, intelligent thermal protection keeps gadgets from overheating. Antminer KS5 Pro, KS5, KS3 (9.4 TH), and KS3 (8.3 TH) may all utilize the firmware. NiceHash has developed a solution to this problem since the majority of Kaspa Antminer models employ CVITech control boards, which are unable to handle long-term custom firmware installations. Users must first connect the Cracker Card, a hardware add-on that is connected to the CVITech control board, in order to install the Kaspa firmware. Once linked, it makes it possible to use standard firmware to load custom NiceHash firmware for Kaspa over the air on ASIC devices. Depending on their device’s overclock level, miners using NiceHash Firmware for Kaspa are charged a dynamic fee that may range from 1 to 4%. For Kaspa miners, who may mine via NiceHash pools using the specialized Kaspa firmware, this guarantees an equitable price structure. To help Kaspa miners upgrade their ASICs by installing the upgraded firmware, NiceHash has created comprehensive tutorials. Its release comes after the introduction of NiceHash Firmware, which aims to boost Bitcoin miners’ income by enabling ASIC devices to operate more efficiently. NiceHash’s Kaspa solution, its first firmware upgrade that isn’t exclusive to Bitcoin, offers miners more incentives to use its pools in addition to better ASIC performance.