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.

Polkadot (DOT) has seen a price increase in the daily timeframe as the crypto market soars. Some market watchers suggested the cryptocurrency is gearing up for a breakout, setting new targets for the short and mid-term timeframes. Polkadot Breaks Out Of Falling Wedge Pattern Polkadot has registered a 10.9% increase in the last week following the market’s performance. DOT jumped from the $4.32 support zone to the $4.53 mark before retracing, registering a 4.8% daily surge in the early hours of Tuesday. The cryptocurrency also saw a 56% rise in market activity, recording a $259.3 million daily trading volume. This increase has made DOT retest the upper trendline of a falling wedge pattern. Market analyst CryptoBull360 stated that Polkadot is “getting ready for a massive breakout” from the bullish pattern after a long consolidation period. DOT has been moving within the falling wedge for the past seven months, consolidating between $4-$4.8 since August’s Black Monday. The analyst noted that the token had a strong bounce from the Point of Control (PoC) value zone, surging 11% in the last three days. Today’s jump saw the token break above the pattern’s upper trendline, momentarily sitting above it. CryptoBull360 expects a retest of March highs if the token successfully breaks out of the falling wedge. To him, a 160% surge for the midterm is imminent, which would target the $11.46 yearly high. Is DOT Preparing To Reclaim $20? Crypto analyst Ali Martinez suggested that Polkadot could “be following Fantom’s footsteps.” Per the post, DOT’s chart looks similar to Fantom’s before its March performance. Ahead of the Q1 rally, FTM rose two times to the upper range of its accumulation zone and retraced before its 263% bullish run toward its yearly high. If Polkadot were to follow, and its current pattern holds, DOT’s price could rise to $9.7 in Q4. Following the surge, the cryptocurrency would face a pullback to the $6.5-$6.7 support zone before skyrocketing to $20 by Q1 2025, a level not seen since April 2022. Despite the bullish forecasts, some investors remain cautious about Polkadot. A crypto trader noted that DOT followed Bitcoin’s lead like most of the market. The cryptocurrency surged to its daily high of $4.53 as BTC retested the $67,000 resistance level. However, DOT quickly fell to Monday’s levels as BTC was rejected from its resistance zone. The trader questioned DOT’s 24-hour trend, stating, “BTC stops pumping, DOT rises a few percent, while most things don’t rise, as soon as it gets going, the entire market falls and DOT immediately loses everything it had previously gained.” As of this writing, DOT is trading at $4.42, a 2.2% increase in the daily timeframe.

Bitcoin price enters $67K after gaining 2.59% in the last 24 hours. Crypto analyst anticipates the possible target of BTC could be around $86,600. Bitcoin’s (BTC) substantial surge above $67K has made bullish anticipations within the crypto market. BTC broke through the crucial resistance level to begin trading at the current mark. The largest asset has experienced a modest 2.59% increase over the past 24 hours. Besides, analysts mentioned the recent Bitcoin rally to the US election and MicroStrategy’s gains. As the election is getting closer, Trump leads the race. Also implying that the market will not be volatile until after the election. The connection between Trump’s election odds and the price movement of BTC will be monitored by analysts. Moreover, MicroStrategy holds Bitcoin’s 1.2% of total supply, outperforming with a 191% stock gain in 2024. In addition, Elon Musk’s Tesla has recently transferred all its Bitcoin holdings, worth $765 million to new wallets for the first time in two years. Notably, none of the wallets are associated with exchanges, hints that Tesla may not be planning a sale. On the other side, the Ali chart states that if Bitcoin surpasses $67,400, it could gain momentum and push its price higher. The possible target could be around $86,600. However, the current market volatility might trigger Bitcoin to rally further. Over the past 24 hours, the asset touched the peak of $67,881, and its low is observed at $64.809. At press time, BTC traded at $67,096 with its daily trading volume surged over 20.80% to $49.15 billion, as per CMC data. Consequently, BTC has stepped into the greed zone as the Fear and Greed Index stays at 73. Can BTC Surge Further? BTC has been in bullish sentiment over the past month, rallying over 14.75%. Eventually, the asset continued the momentum, gaining around 7.30% in the past seven days. But BTC has slipped to a low of $59K, later surpassing the nearby resistance levels to break the bearish pressure. In addition, the technical chart of the asset displays the Moving Average Convergence Divergence (MACD) indicator above the signal line, suggesting a positive trend and the increased buying pressure. Notably, the daily relative strength index (RSI) is positioned above 70. BTC price chart (Source: TradingView) Meanwhile, the short-term 50-day moving average is found above the long-term 200-day moving average at $63,028 and $62,568, respectively. Bitcoin’s current price is above the critical resistance level of $66.8K. If this positive trend persists, the asset will likely retest the nearby resistance, and BTC might continue to rally toward the $67.6K mark. However, if BTC fails to hold the ground, it may return to its previous low at the $66,237 range. The asset can further slide below if the downside momentum continues. Highlighted Crypto News Elon Musk’s Tesla Transfers Bitcoin Holdings Worth 765M Dollars

The memecoin landscape has seen dramatic fluctuations throughout the year, with Dogecoin (DOGE) securing its position as the leader in terms of market capitalization. However, DOGE’s recent performance has prompted a wave of investor discontent, leading many to seek alternative options for quicker gains. Frustration Grows Among Dogecoin Investors According to data from blockchain analytics firm Santiment, the number of Dogecoin holders has significantly decreased, with a net drop of 106,600 non-empty wallets since October 8. The firm believes that this decline reflects growing frustration among traders regarding DOGE’s lackluster price performance, which has led them to explore other memecoins that might offer more immediate returns. In the last 24 hours, the Dogecoin price experienced a 1% decline, reflecting broader trends within the memecoin sector. Data from CoinGecko indicates that while Dogecoin struggles, many other tokens in this space are also seeing losses, with the notable exception of TURBO token, which has shown impressive gains. Despite recent challenges, Dogecoin still boasts a 9% increase over the past week, leading the top ten memecoins in this metric. However, TURBO outperformed all competitors in the sector with a significant 76% surge during the same period, establishing itself as the top performer in the crypto market. In addition, the recent bullish performance of Bitcoin (BTC), the largest cryptocurrency by market cap, may have contributed to shifts in Dogecoin sentiment. Analysts predict that Bitcoin could reach between $80,000 and $120,000 by the end of the year, further fueling investor optimism. 84,200% Growth Ahead For DOGE? In a recent social media post on X (formerly Twitter), crypto analyst Ali Martinez has noted a fresh buy signal on Dogecoin’s four-hour chart, suggesting that the token may see additional price gains in the coming days. In his analysis, Martinez also pointed out an uptrend pattern on DOGE’s weekly chart, indicating potential for further growth in the months ahead. He has even speculated that Dogecoin’s price could reach an astonishing $10, representing a staggering 84,200% increase from current price levels. This projection is particularly ambitious given that Dogecoin’s all-time high of $0.7316 was reached in May 2021, leaving the token down over 83% from those peak levels. Despite the challenges posed by declining investor interest and the absence of catalysts to drive the price upward, there remains a bullish sentiment in the market. Dogecoin could thrive during the remainder of the bull cycle, especially as attention is expected to shift back to altcoins. At the time of writing, DOGE was trading at $0.1175. Featured image from DALL-E, chart from TradingView.com

Data shows the Ethereum Open Interest has witnessed some sharp growth recently, a sign that more volatility could be coming for the asset’s price. Ethereum Open Interest Has Now Risen To $9.7 Billion As explained by an analyst in a CryptoQuant Quicktake post, the Ethereum Open Interest has seen a strong rise recently. The “Open Interest” is an indicator that keeps track of the total amount of ETH-related positions currently open on all derivatives platforms. When the value of this metric goes up, it means the investors are opening up new positions on the market right now. As new positions generally come with leverage attached to them, the overall leverage in the market rises when the Open Interest does. So, the asset’s price can become more likely to show volatility. On the other hand, the indicator registering a decline implies the holders are either closing up positions of their own volition or getting liquidated by their platforms. Either way, the reduced leverage can lead to more stability for the cryptocurrency. Now, here is a chart that shows the trend in the Ethereum Open Interest over the past month: As the above graph shows, the Ethereum Open Interest has seen a spike recently as the cryptocurrency’s price has shown its recovery run. This isn’t particularly unusual, as rallies tend to attract a lot of attention and, with such interest, naturally follow a ton of speculation. However, the scale of the increase could be something to watch out for. From the chart, it’s apparent that this latest Open Interest increase has outweighed the September spike. A zoomed-out version of the chart shows that the last time the metric saw a larger 24-hour rise was back in May. As mentioned earlier, an Open Interest increase can lead to more volatility in the price. This is because a mass liquidation event, popularly known as a squeeze, can become more likely to occur if the market is more leveraged. In theory, this volatility can take Ethereum in either direction. However, the quant has pointed out that the funding rates are currently high, which suggests the sector is leaning towards being long-heavy. Thus, most of the new positions that have popped up on exchanges are likely long. Historically, conditions like these have created a ripe environment for a long squeeze. It remains to be seen how the coin develops in the coming future and whether a sharp correction in its price will occur alongside large long liquidations. ETH Price At the time of writing, Ethereum is trading at around $2,600, up more than 8% over the past week.

Cosmos Hub may have major security issues in its LSM as reported by its builder AiB. AiB recommends a complete audit to the Cosmos ecosystem to combat security concerns. The crypto market has sustained its positive momentum as the sector surges with activity. Bitcoin has hit $67,000, mirroring the US spot Bitcoin ETFs, which have shown significant inflows. Meanwhile, All in Bits, the builder of the Cosmos ecosystem, announced a major security alert a few hours ago. According to the DeFi builder’s X post, it has uncovered serious security issues on the Cosmos hub’s Liquidity Staking Module (LSM). All in Bits (AiB) discussed several concerns for raising the emergency security alert. Firstly, the LSM’s code was written by North Korean agents. This has caused concern after recent reports of skepticism and infiltrations surrounding the group. Additionally, AiB pointed out that Cosmos Hub’s LSM is not a standalone module but part of other staking and distribution modules. This would mean that a security threat could affect the entire ecosystem. Furthermore, the builder also highlighted two individuals involved in the projects and their misrepresentations of material. All in Bits has also said that other firms such as Stride Labs and Informal Systems have shown a lack of transparency in the project. Finally, AiB also reported discovering vulnerabilities in the slashing process, that allows validators to evade it persisting. What Upcoming Steps Does AiB Recommend for Cosmos Hub? In order to combat the security concerns, AiB recommends an immediate fix of the major vulnerability surrounding the staking LSM. It also states that the Cosmos Hub should ensure an immediate audit of its various systems within the ecosystem. Notably, before the LSM was incorporated into the hub it underwent a 19-month audit. Despite this, there were some unaudited codes within the LSM. Moreover, the protocol builder also states that involved parties who contributed to the security concerns must be subjected to appropriate actions. Finally, it also has demanded the respective parties to account for their actions in its detailed announcement. In the recent few months, several security concerns and breaches have risen in the cryptocurrency sector. Recently, the Pendle ecosystem encountered a hack in its Penpie protocol, an optimization tool. The Polygon ecosystem’s Discord channel was also hacked in August. Highlighted Crypto News Today: TIA Token Faces Price Drop Amid Celestia’s Shwap Upgrade Launch

TIA token has dropped over 9.52%, from $6.41 to a low of $5.80, now trading around $5.84. Celestia launched its Shwap upgrade on the Arabica and Mocha testnets to boost data sampling speed and storage efficiency. The TIA token has seen a significant price drop of over 9.52% in the past 24 hours, sliding from a high of $6.41 to a low of $5.80. As of now, TIA is priced at approximately $5.84, showing a slight recovery from its intraday low. This decline comes despite the recent launch of Shwap, Celestia’s first data availability (DA) network upgrade, which was activated on the Arabica and Mocha testnets on October 15th. Shwap aims to revolutionize data availability by boosting sampling speed by 12 times while reducing storage needs by 16.5 times. This upgrade designed to support larger blocks and smaller nodes, enhancing DA throughput and making it easier for anyone to run light nodes through browsers or wallets. These improvements not only speed up existing crypto applications but also pave the way for new ones utilizing any virtual machine (VM). Shwap set to enter the mainnet Beta phase in November after further testing. Will Upcoming Token Unlocks Increase Selling Pressure on Celestia TIA)? Celestia (TIA) faces additional challenges as analysts predict increased selling pressure by the end of October. Approximately 175 million TIA tokens, which represent 16.4% of the total supply, are set to be unlocked to coincide with the modular blockchain’s one-year anniversary. Currently, the circulating supply of TIA stands at 214.24 million out of a total of 1.073 billion tokens. To date, a total of 267 million TIA tokens have been unlocked. With TIA’s current market cap hovering around $1.27 billion, the upcoming unlocks could lead to volatility. Historically, tokens with less than 70% of their supply distributed often experience larger fluctuations during such events. Meanwhile, Celestia’s price has also dipped, down 9.52% in the last day, indicating a tough road ahead as it battles against key resistance levels. In terms of technical analysis, TIA’s MACD line is below the signal line, indicating a bearish trend, while the RSI (Relative Strength Index) reading of 61 suggests that the asset is in a relatively strong position but not yet overbought. These technical indicators point to a cautious outlook for TIA as it navigates these market dynamics. Highlighted News Of The Day Grayscale and Canary Capital Spark New Crypto ETF Wave

The bull run that occurred in 2021 was a period of remarkable expansion for the virtual currency market, as it was for one trader in particular. In this instance, this crypto trader is notable for earning below-par performance, as he made a whopping $80 million profit from investing early in Dogecoin. In addition, the same trader has been seen accumulating yet another cryptocurrency this time around called Rexas Finance (RXS), which is being termed the ‘DOGE rival’. Rexas Finance was available for just $0.06 per presale and is increasingly proving popular among traders looking for the trigger for the next big thing. Dogecoin 2021 Bull Run: A Story of Meme Coin Success When it commenced, Dogecoin was primarily viewed as the coin for an impulsive market, a joke for a serious no-coin with future aspirations. However, in the year 2021, using his social media support, community support, and a few high-profile advocates, including Elon Musk, DOGE within the past few years, skyrocketed. A lot of the early users, especially the $80 million advance trader, had all their returns increase astronomically, bringing out the fact that even meme coins have the potential to change one’s life in the sphere of cryptocurrency. With the development of the market, investors’ expectations changed, too. Now they want more than just such a simple hype, but such that will have real-life applications and endurance. This is where the setup of Rexas Finance starts. Why do investors find Rexas Finance to be similar to DOGE? Rexas Finance is principally promoted as a low-cost cryptocurrency where it operates in the same zone as Dogecoin; however, it does set itself apart by its usefulness and orientation towards the emerging market of RWA tokenization. Unlike DOGE, which is tethered to various community activities, Rexas Finance provides a practical purpose for launching the platform. Specifically, it allows users to create and trade tokens of real-world objects such as real estate, artworks, etc. through the blockchain system.This additional layer of utility makes Rexas Finance attractive, especially for those who are after cheap prices with a promise of future earnings. The price, which was only at $0.06 during the presale of Rexas Finance has already attracted the likes of those in the market who, in previous trades, have been noticed to have cratered fortunes with DOGE. Rexas Finance (RXS) The Presale The Market For The Growth Prelude Rexas Finance at the moment is in its presale stage and indicators show there is enough appetite for the investors. In Stage 4 of its presale, RXS is priced at $0.06, whereupon the next stage will see a price hike to $0.07. The presale has moreover collected funds amounting to $2,806,293 involving the sale of 65,938,206 tokens, therefore proving there is interest in the project.For investors who are already acquainted with cryptocurrencies, this presale is a critical decision for them. The price is rather low, which means that lots of room for upside exists, especially at this stage when Rexas Finance is still working on enhancing its platform and growing its presence in the asset tokenization market. The Rexas Millionaire Giveaway: Engagement within the Community To generate even greater interest and encourage participation from the community, Rexas Finance has launched the Rexas Millionaire Giveaway as well. This program brings in an astounding 20 people who will be given $50000 each and it adds to the presale excitement with the approach of investors expecting such prizes in the hundreds of thousands. It is also possible to provide investment services, submit an ERC20 wallet address, and complete activities that promote the community. The giveaway has been timed perfectly with an upward move in token buy pressure as people hurry to invest and spread the word about the project as the token price will be increased in the next phase. How to Buy Rexas Finance (RXS) For anyone who wants to become a professional trader, there is an easy manner to buy units of the presale for Rexas Finance. Step 1: Prepare Your Wallet Before executing this sale, another implementation would be to ensure a compatible wallet with Wallet Connect features. Many people prefer using MetaMask or Trust Wallet but literally almost any decentralized wallet with some connection to Wallet Connect would do. Step 2: Purchase Ethereum (ETH) Please ensure that you have the necessary amount of Ethereum (ETH) in your wallet because this will also be needed to cover network gas fees. It does not matter if you choose to purchase Rexas Finance using USDT; you still need to utilize ETH in your wallet for transaction fees. Step 3: Access to the Rexas Finance DApp To access the Rexas Finance platform, go to rexas.com and click on the “Connect Wallet” button. A prompt will ask you to connect your wallet. When utilizing the wallet, ensure that it is on the Ethereum Chain (ERC20) to prevent any issues with the transactions. Step 4: Select Your Payment Method From Rexas’s dashboard, you can select a payment method, which can be either ETH or USDT. Indicate the amount you want to invest and the platform will indicate how many RXS tokens you will receive after your investment. Step 5: Finish the Transaction When you have entered your investment amount, confirm your purchase. You will receive a request on your wallet to authorize the transaction, and upon completion of the approval, you will see the RXS tokens deposited into your wallet in real time. Two transactions are required upon purchases of USDT; they are one where the USDT contract is approved and another where the actual purchase is completed. For success in buying RXS tokens, these two steps have to be done. Could Rexas Finance Be the Next Big Thing? Naturally, the news that a trader who made an $80 million profit from Dogecoin is now investing in Rexas Finance was of great interest in the cryptocurrency world. It is not just another penny crypto thanks to its real-life usage and ever-growing presale performance. The token aims at utilizing blockchain technologies in the promotion of asset ownership among all demographics, which makes this investment appealing to investors seeking projects with high activity and growth potential.With each subsequent presale rounding up, the price of Rexas Finance goes up, meaning that there is a good opportunity for investors who invest early on to reap a good return. Whether Rexas Finance will live up to the sudden popularity that has been bestowed on Dogecoin is a question yet to be answered; however, for the time being, it remains a bright prospect when viewed from the crypto space. For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research.

Grayscale seeks to convert its fund into a diversified crypto ETF. Canary Capital files for spot Litecoin and XRP ETFs amid growing interest. The race to bring more cryptocurrency-based exchange-traded funds (ETFs) to the U.S. market continues to heat up as Grayscale Investments and Canary Capital make bold moves. Grayscale, the world’s largest crypto asset manager, has filed to convert its Digital Large Cap Fund, which includes Bitcoin, Ethereum, Solana, XRP, and Avalanche, into an ETF. This follows Grayscale’s recent victory in converting its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF after a lawsuit against the U.S. Securities and Exchange Commission (SEC). Meanwhile, Canary Capital is targeting alternative cryptocurrencies. The firm has filed registration documents with the SEC for a spot Litecoin (LTC) ETF, which aims to track the performance of Litecoin, often seen as a faster and cheaper alternative to Bitcoin for small payments. Canary Capital is also pursuing a spot XRP ETF. It filed similar paperwork just days before Bitwise made its own XRP ETF filing. These filings come as institutional interest in cryptocurrencies grows, with Wall Street eager for more diverse crypto ETF products. Political Influence Political factors loom large over these developments. The upcoming U.S. presidential election in November is seen as a potential turning point for crypto regulation. Kamala Harris, the current Vice President, is regarded as more supportive of blockchain technology than President Joe Biden. She has overseen aggressive regulation under SEC Chair Gary Gensler. Donald Trump, Harris’ rival, has promised to fire Gensler if elected, signaling a possible shift in the regulatory environment. Nate Geraci, president of The ETF Store, highlights that the current wave of ETF filings could be influenced by the election, noting that politics “clearly matter in the short-term.” Despite this uncertainty, he believes that the launch of more crypto ETFs is “inevitable.” As the SEC reviews these filings, Grayscale and Canary Capital’s latest moves reflect the increasing demand for sophisticated cryptocurrency products. It signals a new chapter in the mainstream adoption of digital assets. Highlighted News Of The Day Ethereum Breaches Key Resistance: Long Term ETH Holders Move

Tesla moved 11,500 BTC valued at $765 million in October 2024. SpaceX, another Musk-led company, holds over 8,000 BTC. Elon Musk’s Tesla has made its first significant Bitcoin move in over two years, transferring around 11,500 BTC valued at approximately $765 million. The transaction, revealed by Arkham Intelligence, occurred on October 16, 2024, in multiple batches. It has stirred considerable interest in the cryptocurrency world. These Bitcoin transfers were spread across several new, unidentified wallets. Importantly, none of the wallets are associated with crypto exchanges, leading to speculation that Tesla may not be planning an immediate sale of its Bitcoin holdings. The 26 separate transactions included three large transfers totaling over $228 million. The rest of the Bitcoin was dispersed in smaller amounts across multiple wallets. Tesla’s wallet had been inactive since 2022, making this sudden activity unexpected. While no official reason has been provided, some analysts believe the move was a security measure. Perhaps transferring funds to cold wallets to mitigate the risk of hacking. Others speculate the company might be preparing for a sale, which could significantly impact Bitcoin prices if executed on open markets. Tesla’s Bitcoin Holdings and Market Impact Tesla first entered the Bitcoin market in early 2021 with a $1.5 billion investment, sparking widespread attention. It sold 10% of this investment in the first quarter of that year, realizing a profit of $128 million. However, in July 2022, the company sold 75% of its remaining Bitcoin holdings during a market downturn, generating $936 million. Following these sales, Tesla retained 11,500 BTC, which has increased in value as Bitcoin prices have risen. As of October 15, 2024, Tesla held an estimated 9,720 BTC, worth about $650 million, down from its peak holding of 43,000 BTC. Arkham Intelligence believes Tesla may hold as much as 11,509 BTC across 68 wallets, valued at around $770 million at current prices. Despite this major move, the market has shown little reaction so far. Bitcoin was trading at approximately $66,880 at the time of the transaction. Some market analysts suspect that if Tesla were to sell its holdings, it might do so through over-the-counter (OTC) trades. This method would allow Tesla to avoid causing panic or triggering a sharp price drop by offloading its Bitcoin in public markets. Tesla remains one of the largest corporate Bitcoin holders, following MicroStrategy and MARA. The electric vehicle giant also briefly accepted Bitcoin payments for its cars in 2021 before pausing the practice due to environmental concerns. Additionally, Musk’s space venture, SpaceX, is reported to hold 8,285 BTC, further highlighting his company’s involvement in the crypto space. Highlighted Crypto News Today 021 Doubles Down on Avalanche with Strategic Acquisition of Looty

Bitcoin (BTC) has surged past the $65,000 mark, renewing traders’ optimism for an “Uptober” rally that could extend the digital asset’s bullish momentum. Is The Bitcoin “Uptober” Rally Finally Here? In the early hours of October 15, Bitcoin briefly crossed $66,000 before retracing to $65,964 at the time of writing. Over the past 24 hours, BTC has gained 1.4%. According to a report by crypto exchange Bitfinex, Bitcoin’s decisive move past the crucial $63,000 resistance level, combined with encouraging on-chain metrics, points toward further potential upside move. The report mentions that Bitcoin’s realized price of unspent transactions output (UTXO) age bands are a “pivotal on-chain metric for gauging Bitcoin’s market dynamics.” For the uninitiated, Bitcoin’s UTXO age bands refer to the value at which different groups of BTC – based on their holding duration – were last moved. Essentially, it helps track the average purchase price across various age groups of BTC holders, indicating market sentiment and the profitability of specific cohorts. Notably, the average realized prices for short-term (3-6 months) and mid-term (6-12 months) holders have historically been key support or resistance levels. The short-term holder price is around $63,000, while the mid-term holder price is $55,000. When Bitcoin trades below the average purchase price of these groups, it often signals a bearish trend. Conversely, a move above these levels can indicate bullish momentum. Since BTC has surpassed the $63,000 resistance, further gains could be in sight. However, a failure to close above this level could have triggered a potential decline toward $55,000. Market Displays Strong Appetite For Digital Assets The report highlights BTC’s weak price action on October 10, when it fell to $58,943 due to lack of aggressive buying in the spot market. Per the report, the majority of the selling originated on Coinbase. The report mentions the Coinbase Premium Gap Indicator (CPGI) – a metric that shows the difference between the BTC-dollar pair on Coinbase versus other major centralized exchanges. The CPGI decreased by 100 points as BTC’s price declined below $59,000. The report notes that during the past year, anytime the CPGI fell below 50 points, BTC price has witnessed a subsequent recovery. The report adds: This analysis aligns with a separate report by crypto firm QCP Capital, which noted that the shallow sell-off in the crypto market following geopolitical tensions between Iran and Israel indicates sustained demand for risk-on assets. In related news, BTC bulls will be relieved to learn that the defunct crypto exchange Mt. Gox has delayed its repayment until October 2025, potentially easing pressure on spot selling. However, some analysts warn that BTC may face price capitulation due to tightening on-chain liquidity. At the time of writing, Bitcoin trades at $65,964, up 1.4% in the past 24 hours.