Worldcoin’s blockchain World Chain went live in the past day as per reports. The altcoin has factored in a 2.30% price dip in the last 24 hours. The regulatory landscape in crypto has taken a turn for activity today, as several announcements have been made. The US SEC made a last-minute appeal in the Ripple case, while the FBI arrested the regulator’s January 2024 X account hacker. Meanwhile, prices have remained bullish but haven’t shown major upward movements. On the other hand, the Worldcoin Foundation launched its World Chain on Thursday. During yesterday’s World event, Worldcoin rebranded to World, changing its X account handle and announcing several updates. According to the altcoin community’s announcement, all users officially migrated to the World Chain on October 17. Furthermore, the altcoin’s foundation elaborated on the blockchain’s use cases in its announcement. The blockchain aims to hit 1 billion users and has integrated anonymous human verifications along with biometrics. Another important update from the World Foundation included its World App 3.0. This upgrade includes a new feature – Mini apps. The new feature allows third-party apps to run inside the World App and also integrates anonymous World ID verifications. The crypto community has not yet begun actively responding to the recent updates. Moreover, the WLD token showed price drops in the last 24 hours. Worldcoin Recent Price Action Overview In the last 24 hours, Worldcoin sidetracked from its bullish trend to accommodate a brief price dip of 2.30%. The altcoin was trading at a high of $2.24 on October 17 morning, however, it began moving downwards to hit an intraday low of $2.08. At the time of writing, WLD was trading at $2.18 as per CMC data. Zooming out, over the past week the altcoin surged by a significant 27% in prices. Its price movements began from the $1.7 level to a weekly high of $2.64. The altcoin has rendered increasing market attention due to the recent surges. On the other hand, its price dip in light of the recent announcements is intriguing. Meanwhile, the crypto market has turned its attention to Donald Trump’s World Liberty Financial WLFI token. Highlighted Crypto News Today: Kraken Launches New Wrapped Bitcoin kBTC as Competition Heats Up

Kraken has introduced Kraken Wrapped Bitcoin (kBTC), an ERC-20 token backed 1:1 by Bitcoin held in Kraken’s custody. The kBTC token is compatible with Ethereum and OP Mainnet, enabling access to DApps across blockchains. In 2024, the global crypto market has seen significant developments, including the launch of Bitcoin ETFs and growing adoption by both institutions and governments. As we enter Q4, the momentum continues with new projects and innovations. The leading crypto exchange Kraken has joined the action by introducing its own wrapped version of Bitcoin. On October 17, Kraken officially launched Kraken Wrapped Bitcoin (kBTC), an ERC-20 token that is backed 1:1 by Bitcoin held in Kraken’s custody. This move is part of Kraken’s broader effort to bring Bitcoin into more decentralized applications (DApps) and enable cross-chain compatibility. What Makes Kraken’s New kBTC Stand Out in the WBTC Market? kBTC has been designed to operate across multiple networks, including Ethereum and OP Mainnet (formerly Optimism). By leveraging these networks, Kraken ensures that users can use Bitcoin’s value in various blockchain applications beyond its native network. Further, Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution (SPDI), will oversee the custody of the Bitcoin-backed kBTC, ensuring maximum security. This SPDI status gives Kraken a solid regulatory framework and full-reserve backing, adding a layer of trust for users. This launch comes at a time when competition in the wrapped Bitcoin space is heating up. Kraken is joining the ranks of major players like Coinbase and 21Shares, both of which launched their own wrapped Bitcoin tokens—cbBTC and 21BTC—last month. Wrapped assets like these help bridge Bitcoin with other networks, unlocking more functionality for users. Kraken’s approach includes rigorous security measures, including a thorough audit of the kBTC smart contract by the third-party firm Trail of Bits, ensuring user assets remain safe. Meanwhile, Kraken is also facing legal challenges. In 2023, the U.S. SEC filed charges against the exchange for allegedly operating without proper registration as a securities exchange. The lawsuit continues, with a federal judge recently ruling in favor of the SEC’s case proceeding to trial. Despite this, Kraken is pushing forward with innovation, determined to strengthen its place in the market. Highlighted Crypto News Today Orderly Network Successfully Deploys Omnichain Orderbook on Solana

Yet another reason that has given the rocket fuel to the price of Bitcoin is the rapidly approaching US presidential elections. Several analysts are keenly observing whether political dynamics will take their toll on the cryptocurrency in the near future with the election date nearing. QCP Capital believes that the result of the presidential election might have significant influence on the trajectory of Bitcoin. This should be relayed in the current trading patterns as options contracts associated with the election are trading at a 10% premium, thus indicating increased market sensitivity towards political developments. Who Is More Advantageous For Bitcoin: Trump Or Harris? Former President Donald Trump has revealed that he now supports cryptocurrencies. This is a very significant U-turn since he used to outright bash the existence of cryptocurrencies. In his latest speech, he pushed how much it was essential to embrace digital currencies, stating that crypto was moving out of the United States because nobody appreciates it. He advises the creation of a national Bitcoin stockpile and prevent the Federal Reserve from launching a digital currency. This approach aims to attract supporters and contributors of cryptocurrencies, hence maybe raising the value of Bitcoin should he be successful. As for Vice President Kamala Harris, she hasn’t said much about it yet, but she is talking to some in the crypto community. That the campaign would seek to obtain crypto votes signifies that she is willing to reconsider her stance on digital currencies. Although she may not fully embrace crypto as Trump has, her willingness to discuss the matter could indicate a more favorable regulatory environment in the event that she were to win. Market Predictions And Reactions Currently, Bitcoin is trading at approximately $67,685, and some analysts anticipate that it will shortly surpass its all-time high of nearly $74,000. Bitcoin ETFs have registered a decent amount of inflows in the last few weeks, which may have been a major factor to the recent increase in Bitcoin prices. The Bitcoin ETFs experienced a $457 million inflow on October 16, which culminated in four consecutive days of advances. This favorable momentum implies that institutional investors are becoming more optimistic about the potential of Bitcoin. Nevertheless, there is still a degree of uncertainty regarding the crypto market’s future, as the policies of both candidates could result in varying outcomes. Harris’s changing stance throws open possibilities of speculations on the future regulations that are likely to be made and Trump’s pro-crypto stand being seen as a positive for Bitcoin. The Bitcoin market capitalization, which is still a figure of $1.3 trillion, according to some analysts, may make it less susceptible to high volatility by any verdict. Meanwhile, QCP Capital believes this US presidential election will affect Bitcoin. Political changes are already affecting election options contracts, which trade at a 10% premium. As traders await policy changes from any candidate, QCP expects the election to influence Bitcoin’s future. Featured image from Sky News, chart from TradingView

Bitcoin (BTC), the largest cryptocurrency by market capitalization, is showing signs of a potential breakout, according to analyst Miles Deutscher. Historically, October has been a strong month for BTC, and recent trends suggest that the cryptocurrency may be on the verge of a substantial upward movement. Over the past week alone, the Bitcoin price has surged more than 13%, approaching its all-time high of $73,700 set in March of this year. Increased Global Liquidity And Low Supply Deutscher notes that Bitcoin has been consolidating above critical support levels for much of the year, positioning it for potential expansion. Despite numerous failed breakouts in the past, which have led to a general distrust among traders, the analyst believes that this environment may create an opportunity for a significant price increase. Many retail investors remain sidelined, as indicated by Bitcoin’s current ranking on Coinbase and declining Google search interest in the cryptocurrency. This may suggests that the market force known as fear of missing out (FOMO), has yet to set in among investors. The macroeconomic backdrop also supports Bitcoin’s potential for further gains. Increased global liquidity—now at its highest level in three years—has historically influenced Bitcoin’s price positively. Deutscher also emphasizes that as equity markets begin to recover, Bitcoin tends to follow suit, often correlating closely with the S&P 500. Additionally, Bitcoin’s supply on exchanges has reached an all-time low, suggesting that a supply squeeze may be imminent. The analyst contends that this trend indicates that fewer BTC are available for trading, which could drive prices higher as demand increases. October To April As ‘Boom Period’ For Bitcoin Deutscher also emphasized in his analysis the upcoming US presidential election, which he believes adds another layer of complexity to the market. The analyst speculates that a victory for former President Donald Trump could lead to favorable market reactions, with Bitcoin potentially positioned as “a pillar of US financial stability.” The Republican candidate has made a number of promises, the most notable being plans to make Bitcoin a reserve asset for the country, with the aim of using it to reduce the $35 trillion national debt, further supported by pro-crypto Senator Cynthia Lummis. Seasonality also plays a role, according to the analyst. Deutscher explains that the period from October to April 2025 is traditionally seen as a “boom period” for cryptocurrencies. While Bitcoin needs to break out of its current range—potentially facing resistance around $70,000—Deutscher believes this breakout is likely, especially given the substantial short interest in Bitcoin. At the time of writing, BTC is trading at $66,940, down 1.5% in the 24 hour time frame, as it has encountered significant resistance at the $68,000 level, preventing it from tackling the biggest resistance yet at $70,000. Featured image from DALL-E, chart from TradingView.com

Cardano price started a fresh decline below the $0.3565 zone. ADA is consolidating above $0.3420 and might attempt a recovery wave. ADA price started a downward move below the $0.3520 support level. The price is trading below $0.3500 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could attempt a recovery wave if it clears the $0.3520 resistance zone. Cardano Price Consolidates Losses After testing the $0.3700 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, unlike Bitcoin and Ethereum. There was a move below the $0.3550 and $0.3500 support levels. The price even declined below $0.3450 before the bulls appeared. A low was formed at $0.3394 and the price is now consolidating losses. There was a minor move above the $0.3420 level. The price cleared the 23.6% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low. Besides, there was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA/USD pair. Cardano price is now trading below $0.350 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.3515 zone. The first resistance is near $0.3550 or the 50% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low. The next key resistance might be $0.3620. If there is a close above the $0.3620 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3700 region. Any more gains might call for a move toward $0.3880. More Downsides in ADA? If Cardano’s price fails to climb above the $0.350 resistance level, it could start another decline. Immediate support on the downside is near the $0.3420 level. The next major support is near the $0.3400 level. A downside break below the $0.3400 level could open the doors for a test of $0.3220. The next major support is near the $0.3100 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.3400 and $0.3220. Major Resistance Levels – $0.3500 and $0.3550.

October is known for similar bullish patterns in the crypto market. It is always a great time for top altcoins like Shiba Inu (SHIB) and Dogecoin (DOGE). However, an analyst has predicted that the Shiba Inu price will skyrocket after Whale transactions surpass Dogecoin (DOGE). Meanwhile, ETFSwap (ETFS) gains bizarre traction from top whales as it prepares for a 10000% bullish run. Shiba Inu Price Prediction: SHIB Whale Says, “History Will Repeat Itself” “Shiba Inu price is set for something big. History will repeat itself,” an analyst has said. However, the Shiba Inu price prediction is unsurprising because of its recent market performance. Shiba Inu (SHIB) has always had a smooth bull run in October. Based on history, the return for this crypto token in October was 213.2%. In October 2021, Shiba Inu price surged to 833.6%. While the number was outrageous for SHIB whales and enthusiasts, subsequent years have been positive for Shiba Inu (SHIB). 2024 has been a rough start as Shiba Inu Price has gained only 2.6%. However, things are beginning to turn around as SHIB Whale transactions surpass Dogecoin (DOGE). Why ETFSwap (ETFS) Will Lead The Crypto Bull Run By 10000% Now that ETFSwap (ETFS) has launched its beta platform on testnet, a new era has begun. The long-awaited development has been a trendy topic on social media and the crypto community for weeks. As such, experts are certain ETFSwap (ETFS) will lead the bull run by 10,000%, and the presale is the best time to join a potential giant in the altcoin scene. As an early investor, you will have exclusive access to several benefits. It gets more interesting when you invest in the right project like ETFSwap (ETFS). ETFSwap (ETFS) has taken DeFi to the next level. The high-rewarding platform provides numerous trading opportunities that allow investors to make as much money as they want. As seen with SHIB whales, large networks are adding the $0.03846 Ethereum token to their wallet to recover from their past bearish experience. The ETFS token allows holders to enjoy an 87% APR yield on every investment, ETF staking, and 50x marginal capital trading. They can also have first-hand experience with ETF prices and trading to increase their profits, thanks to the live ETF Tracker and Filter. You don’t need any KYC verification to join this crypto community. It offers expert and beginner investors permissionless trading. As a platform that prioritizes optimal safety, ETFSwap (ETFS) underwent detailed KYC verification by “SolidProof” and a thorough smart contract audit from Cyberscope. Hence, there is no worry about the safety of investors’ assets. The network completed the backend development and testing to ensure the beta platform launch runs smoothly. This included detailed testing and optimization to provide access to several liquidity pools, staking tokens for rewards, and participating in popular ETFs. Since the main net is now live on testnet, pundits believe ETFSwap (ETFS) is set to lead a crypto bull run by 10,000%. Now is the best time to join the network, as more SHIB whales are adding ETFSwap (ETFS) to their portfolio. No one wants to miss out on the incoming profits. Investors who seek to partake in the incredible returns offered by this platform can begin by purchasing this token at $0.03846. Can Recent Surge Push Dogecoin (DOGE) To New Heights? Dogecoin (DOGE) is currently trading at less than $1. Similarly, the number of active addresses has increased dramatically and reached the highest level. This means that Dogecoin (DOGE) has been gaining attention from all corners and much more from the whale network. However, SHIB whale transactions are doing bigger numbers because of Shiba Inu (SHIB) history. Dogecoin (DOGE) has received a bold projection to reach $1 soon, but ETFSwap (ETFS) leads the race with a potential 10000% gain. Conclusion SHIB whale sentiments continue to drive Shiba Inu price movements as Dogecoin (DOGE) seeks a path to recovery. Although most crypto tokens currently possess bearish outlooks, ETFSwap (ETFS) is set to lead the crypto bull season. Buy the ETFS token today for a potential 10,000% profit. For more information about the ETFS Presale: Visit ETFSwap Presale Join The ETFSwap Community Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend 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.

On-chain data shows around 95% of all Bitcoin holders are in profit following the latest bullish action that the asset’s price has seen. Very Few Bitcoin Addresses Are Still Underwater In a new post on X, the market intelligence platform IntoTheBlock has shared an update on how the Bitcoin holder’s profitability is currently looking. The analytics firm has made use of on-chain data to determine this. IntoTheBlock has gone through the transaction history of each address on the network to check the average price at which it acquired its coins. Wallets with a cost basis below the current price are assumed to carry some net unrealized profit. Similarly, addresses of the opposite type are considered to be loss holders. The analytics firm terms the former investors “in the money,” while the latter are “out of the money.” Naturally, the wallets with their average acquisition price equal to the latest spot price of the cryptocurrency would be just breaking even on their investment. They would be said to be “at the money.” Now, here is how the address distribution on the Bitcoin network is like right now across these three categories: As is visible above, around 95% of the existing Bitcoin holders currently have a net profit. About 3% of the remaining are at their break-even level, while the rest 2% are underwater. Thus, the market distribution is currently overwhelmingly skewed towards profit holders. The reason behind this is the recent price rally the asset has gone through. “With 95% of Bitcoin addresses now in profit, market sentiment is booming,” notes IntoTheBlock. “Historically, such levels have signaled strong bullish momentum but can also indicate a potential overextension.” Generally, investors in profit are more likely to sell their coins at any point, so a large amount of them being in the green can raise the chances of a mass selloff occurring with the motive of profit-taking. This is why a high profitability ratio can suggest potential overheated conditions. A huge amount of addresses are in the money right now, so it’s possible that another profit-taking event could happen. It remains to be seen whether demand would be enough to absorb the selling or if a top would take place for Bitcoin. On a more bullish note, the Bitcoin inflows to “accumulation addresses” have spiked recently, as CryptoQuant community manager Maartunn has pointed out in an X post. The accumulation addresses refer to the wallets that have no history of selling on the network. These perennial HODLers have just added a massive 56,700 BTC to their wallets, which could suggest they may be starting another phase of accumulation. BTC Price At the time of writing, Bitcoin is trading around $67,400, up more than 11% over the past week.

XRP price is holding gains above the $0.5450 zone. The price seems to be eyeing more gains above the $0.5550 and $0.5650 levels in the near term. XRP price is consolidating above the $0.5400 zone. The price is now trading above $0.5420 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.5465 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.550 and $0.5550 resistance levels. XRP Price Eyes Upside Break XRP price remained stable above the $0.5320 support zone like Bitcoin and Ethereum. The bulls even tried to push the price above the $0.5550 resistance zone. A high was formed at $0.5659 before there was a fresh decline. The price tested the $0.5400 zone. A low was formed at $0.5398 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the downward move from the $0.5659 swing high to the $0.5398 low. The price is now trading above $0.540 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5465 level. There is also a connecting bearish trend line forming with resistance at $0.5465 on the hourly chart of the XRP/USD pair. The first major resistance is near the $0.5550 level or the 61.8% Fib retracement level of the downward move from the $0.5659 swing high to the $0.5398 low. The next key resistance could be $0.5650. A clear move above the $0.5650 resistance might send the price toward the $0.5800 resistance. Any more gains might send the price toward the $0.5880 resistance or even $0.5925 in the near term. The next major hurdle might be $0.6000. Another Drop? If XRP fails to clear the $0.550 resistance zone, it could start another decline. Initial support on the downside is near the $0.540 level. The next major support is near the $0.5345 level. If there is a downside break and a close below the $0.5345 level, the price might continue to decline toward the $0.5280 support in the near term. The next major support sits near the $0.5220 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5400 and $0.5345. Major Resistance Levels – $0.5500 and $0.5550.

Ethereum price is consolidating gains above the $2,580 resistance. ETH could gain pace if it clears the $2,650 resistance zone. Ethereum remained in a positive zone above the $2,550 and $2,580 resistance levels. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,650 and $2,680 resistance levels. Ethereum Price Aims For More Upsides Ethereum price remained stable above the $2,550 pivot level like Bitcoin. ETH corrected some gains and tested the $2,550 support level. Recently, it started a fresh increase above the $2,580 and $2,600 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $2,685 swing high to the $2,538 low. The bulls were able to push the price above the $2,620 resistance zone. Besides, there is a key bullish trend line forming with support near $2,600 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,600 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,650 level. It is near the 76.4% Fib retracement level of the downward move from the $2,685 swing high to the $2,538 low. The first major resistance is near the $2,685 level. A clear move above the $2,685 resistance might send the price toward the $2,750 resistance. An upside break above the $2,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,840 resistance zone in the near term. The next hurdle sits near the $2,880 level or $2,920. Another Drop In ETH? If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near the $2,600 level and the trend line. The first major support sits near the $2,570 zone. A clear move below the $2,570 support might push the price toward $2,550. Any more losses might send the price toward the $2,480 support level in the near term. The next key support sits at $2,420. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,550 Major Resistance Level – $2,650

Recent reports have revealed that Ethereum has had a challenging run, underperforming compared to other major cryptocurrencies. However, despite this, some positive signs may be on the horizon. According to a CryptoQuant analyst, Percival, Ethereum’s open interest has increased significantly, indicating rising investor optimism for a potential rally. Potential For Ethereum Rally And Longs Benefit According to the data shared by Percival, Ethereum’s open interest stands at $9.6 billion, marking a 28.57% increase from August, although it is still below the $13 billion recorded in June. The rise in open interest points to expectations of an upward price movement, with many traders positioning themselves for increased demand. Percival noted that several factors, including potential Federal Reserve interest rate cuts and a growing focus on the future of tokenization on the Ethereum blockchain, may fuel this uptick. This shift could drive more interest toward decentralized finance (DeFi) protocols, making Ethereum more attractive for investors looking for long-term gains. Percival also highlighted that Ethereum’s Relative Strength Index (RSI) is at 61, suggesting that the market is overheated. A “convergence” between open interest and RSI levels indicates that price corrections will likely be short-lived, providing opportunities for traders to position themselves for a market rebound. The analyst estimated that Ethereum may experience a correction of around 7% to 9% before rallying again, favoring long positions as traders await a potential rise in both price and demand. The analyst particularly wrote in a post on the CryptoQuant QuickTake platform: ETH’s Path To A Bullish Breakout At the time of writing, Ethereum trades at $2,611, down slightly by 0.1% in the past 24 hours. This comes after a strong week where the cryptocurrency saw a 9.3% increase and a nearly 15% rise over the past month. According to another prominent crypto analyst, Ali, Ethereum could be on the verge of a significant rally. In a recent post on X, Ali revealed that Ethereum has recently touched the lower boundary of a channel, a level that has historically led to an average 130% price surge. According to Ali, should this pattern continue to hold, Ethereum could potentially climb to $6,000 as long as it maintains its key support level of $2,300. So far, despite ETH’s market’s volatility, the asset has managed to maintain its price above the critical $2,300 support level, which lends credibility to the theory that a bullish breakout could be on the way. Featured image created with DALL-E, Chart from TradingView

Bitcoin price holding gains above the $67,000 resistance zone. BTC is now consolidating and aiming for more gains above the $68,350 resistance. Bitcoin remained stable and extended gains above the $67,500 zone. The price is trading above $67,400 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $67,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally further if there is a close above the $68,200 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin price remained supported above the $67,000 pivot zone. BTC remained in a range and the bulls were active above the $66,500 level. There was a minor pullback from the last high of $68,328. The price declined below the $67,000 level. There was a drop below the 23.6% Fib retracement level of the upward move from the $64,685 swing low to the $68,328 high. However, the bulls were active above the $66,500 level. There is also a key bullish trend line forming with support at $67,400 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $67,200 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $68,000 level. The first key resistance is near the $68,200 level. A clear move above the $68,200 resistance might send the price higher. The next key resistance could be $68,850. A close above the $68,850 resistance might initiate more gains. In the stated case, the price could rise and test the $71,650 resistance level. Any more gains might send the price toward the $72,000 resistance level. Another Drop In BTC? If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support on the downside is near the $67,200 level and the trend line. The first major support is near the $66,500 level and the 50% Fib retracement level of the upward move from the $64,685 swing low to the $68,328 high. The next support is now near the $66,000 zone. Any more losses might send the price toward the $65,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $67,200, followed by $66,500. Major Resistance Levels – $68,000, and $68,200.

London, UK, October 17th, 2024, Chainwire A dynamic shift is unfolding in the world of crypto-powered competitions as MetaWin, known for its thrilling Web3 contests, opens its doors to a new community. In a bold new move, MetaWin is embracing the $DYDX token, bringing together the excitement of decentralized trading with high-stakes entertainment. MetaWin’s $DYDX integration offers a compelling opportunity for $DYDX holders to participate in a unique prize draw as part of the launch. The platform is offering a 5,000 DYDX token prize pool, valued at approximately $4,600, which will be awarded to eligible participants through a free-entry draw. To qualify, participants must hold a minimum of 100 DYDX tokens in their wallets. Launch Prize Draw Details What: A chance to win from a 5,000 DYDX token pool (~$4,600) How to Enter: Hold a minimum of 100 DYDX tokens in a compatible walle Cost: Free entry Purpose: To celebrate DYDX’s acceptance on MetaWin Users can click here to enter the 5,000 DYDX draw for free. Beyond the prize draw, MetaWin offers features designed with Web3 users in mind, including Web3 wallet connectivity, instant withdrawals, L2 support, and seamless swaps in and out. These features aim to enhance the user experience, making it easy for participants to engage with contests, participate in prize draws, and seamlessly manage their tokens. MetaWin has hinted at upcoming competitions, giveaways, and new prize pools, signaling further engagement opportunities for traders and Web3 enthusiasts. As the platform expands, MetaWin remains focused on delivering decentralized entertainment options that resonate with the evolving needs of the crypto community. About MetaWin MetaWin stands as the premier platform for on-chain prize competitions and instant win games, offering a diverse array of entertaining challenges for users. Through the utilisation of cutting-edge blockchain technology, MetaWin ensures a transparent, fair, and secure gaming environment, making it the preferred destination for blockchain enthusiasts and gamers alike. At the forefront of Web3 innovation, MetaWin is supported by a robust community of 250,000 connected wallets. Renowned for its ability to craft impactful digital experiences, MetaWin remains dedicated to pushing the boundaries of the cryptocurrency landscape. For more information, users can visit MetaWin.com. Users can follow MetaWin on social media and join MetaWin’s community: X| Instagram| Telegram | Discord Contact Metawin Metawin [email protected]

BNB price nears $600 resistance, forming ascending triangle pattern. Technical indicators suggest potential bullish breakout. Price targets: $658-$711 short-term, $863 long-term if bullish trend continues. Binance Coin (BNB) is showing signs of potentially breaching the important $600 level. This level has served as a formidable resistance for months, effectively capping BNB’s bullish momentum. The current price action sets the stage for a potential breakout that could redefine BNB’s market trajectory. BNB’s daily chart reveals a rising support trendline that has underpinned the token’s bullish growth. The price has been consistently challenging the crucial resistance zone near $600, forming higher lows in the process. Since June, this resistance has repeatedly repelled BNB’s advances, triggering multiple bearish reversals and confining the price to a sideways trend with support at $464. BNB showing signs of ascending triangle pattern The recent price action has given rise to an ascending triangle pattern, characterized by a series of higher lows against a flat top resistance. Currently, BNB is experiencing a bull cycle within this pattern, marked by three consecutive bullish candles that have pushed the price up by 5.78%. However, an intraday pullback of 0.67% with higher price rejection signals potential resistance at these levels. Technical indicators lend support to the bullish narrative. The 50-day and 200-day Arithmetic Moving Averages (AMAs) maintain a positive alignment, providing dynamic support to the price. Furthermore, the Moving Average Convergence Divergence (MACD) and its signal line have recently produced a bullish crossover, accompanied by a surge in positive histogram values. Looking ahead, Fibonacci retracement levels offer insight into potential price targets. Having surpassed the 50% Fibonacci level at $587, BNB now faces the critical $600 threshold.

Litecoin price breaks above $72, showing increased volatility. Trading volume surged 150% in 24 hours, now stabilizing. Potential targets: $76.5 resistance zone, with possibility of reaching 3-digit figure by year-end. Litecoin (LTC) has emerged as a standout performer in the cryptocurrency market, defying the initial ‘Uptober’ disappointment and rekindling hopes for a bullish close to the month. The token’s price action has shown increased volatility in the second half of October, breaking free from its previous consolidation around $66 and surpassing the $72 mark. The recent surge in Litecoin’s performance coincides with news of Canary Capital seeking SEC approval for a spot Litecoin ETF, potentially fueling bullish expectations for the token. This development, coupled with LTC’s price movements, has positioned it among the top-performing cryptocurrencies in recent days. Litecoin trading volume pumps Litecoin’s upward trajectory has been accompanied by a significant spike in trading volume, which saw a remarkable 150% increase over a 24-hour period. While this volume has since stabilized, the continued price appreciation suggests a strong underlying bullish sentiment among investors. Technical analysis reveals that LTC has successfully tested a pivotal trendline, which previously served as strong support and now represents a key resistance level. The Relative Strength Index (RSI) displays a pattern of higher highs and lows, indicating growing strength in the bullish momentum. Additionally, the Directional Movement Index (DMI) hints at an impending bullish crossover, potentially propelling LTC into the critical resistance zone between $72.61 and $76.5. The recent surge in trading volume has broken above a restrictive range that had constrained LTC for several weeks. This breakout in volume suggests renewed trader interest, which could sustain buying pressure and provide robust support for Litecoin’s rally. Looking ahead, if Litecoin successfully breaches and holds above the $76.5 resistance level, it could set the stage for a major rally.

Willemstad, Curaçao, Netherlands, October 17th, 2024, Chainwire New data from Cloudbet, a leading crypto casino and sportsbook, reveals that the emergence of newer, faster cryptocurrencies like Solana, Polygon, and Tron, are not as popular as mainstream coins for online gambling. The platform data suggests that gamblers prefer established cryptocurrencies such as Tether (USDT), Bitcoin (BTC), and Ethereum (ETH). Year-to-date data shows that USDT accounted for 47.3 percent of the platform’s total turnover, across more than 35 cryptocurrencies. Bitcoin claimed a 28.9 percent share followed by Ethereum at 11.5 percent. Altcoins with speedier transaction times, like Solana (SOL), Litecoin (LTC), Ripple (XRP), and Tron (TRX), are growing in usage but are still lagging behind. In June 2024, Cloudbet released an innovative new rewards program, awarding users in USDT without rollover restrictions. This month, the company released a second iteration of Cloudbet Rewards which now awards users in the cryptocurrency of their choice. For the majority of users, this will still be USDT, but it gives Cloudbet users the financial flexibility to play with more coins. Since its founding in 2013 as the first licensed Bitcoin casino, Cloudbet has had a front-row seat to the evolution of crypto gambling preferences. “After nearly a decade in the space, we’ve seen the market mature,” the spokesperson shares. “Stability is the watchword now for the lion’s share of crypto gamblers.” About Cloudbet Cloudbet is a proud pioneer of crypto betting. Since its launch in 2013, as the world’s first crypto-friendly sportsbook and casino, Cloudbet has served hundreds of thousands of users and taken millions of bets, establishing a reputation as the most trusted, secure, and VIP-friendly brand in crypto gaming. Cloudbet users can bet with 35+ cryptocurrencies, from Bitcoin, Ethereum, and stablecoins like USDC and USDT, to SOL and other popular altcoins. The site is available in 18 languages (including Spanish, German, Italian, French and Japanese). For media inquiries, odds, and insights, users can contact [email protected] or check out media.cloudbet.com. Contact Irene Halcyon Super Holdings B.V. [email protected]

Bitcoin (BTC) is trading slightly lower in South Korea compared to the global cryptocurrency markets due to a reverse ‘kimchi premium,’ not seen since October 2023. Reverse ‘Kimchi Premium’ Makes Bitcoin Cheaper In South Korea According to a report by The Korea Times, there is a price differential of more than $500 between Bitcoin’s price in South Korea and global markets. Analysts attribute this to a negative ‘kimchi premium.’ For the uninitiated, kimchi premium refers to the price difference where BTC trades at a higher price on South Korean exchanges than on global markets. This premium is driven by local demand, regulatory factors, and capital controls in South Korea, leading to occasional price discrepancies. Currently, the kimchi premium stands at -0.74%, leading to a lower market price for BTC on South Korean exchanges than the rest of the world. Notably, the kimchi premium has been negative since October 15. A positive premium indicates strong demand for the underlying digital asset. In contrast, a negative premium might suggest that investors may be looking to trade on foreign exchanges due to South Korea’s stringent regulations surrounding digital assets. A positive Kimchi Premium is common on South Korean exchanges, which often experience high trading volumes. When BTC briefly crossed $72,000 in March 2024, the kimchi premium surged as high as 10%. The report suggests low domestic investor sentiment is a key factor behind the negative premium. While global crypto trading volumes have surged due to the upcoming US presidential elections and a Chinese stimulus package, sentiment in South Korea remains lukewarm. KP Jang, head of Xangle Research, commented: Further, the preference for typically riskier altcoins in hopes of extraordinary profits might influence the local South Korean crypto market, driving attention away from BTC and leading to lower trading volumes. That said, analysts expect the negative kimchi premium to be a temporary phenomenon. Jang explained that, historically, such price discrepancies have only persisted for a short period. Will A Regulatory Overhaul Help South Korea? The crypto regulatory framework in the peninsular country is witnessing several changes to streamline digital asset trading and ensure sufficient customer protection mechanisms are in place. In 2022, South Korea elected pro-crypto Yoon Suk-Yeol as president. As part of his election campaign, Yoon promised to reduce government interference in crypto markets, calling existing regulations “far from reality and absurd.” In contrast, neighboring Japan has openly embraced digital assets amid evolving crypto regulations. For instance, earlier this year, Japan’s Government Investment Pension Fund (GIPF), with $1.5 trillion in assets, expressed a desire to gain exposure to BTC. BTC trades at $67,559 at press time, down 0.4% in the past 24 hours. When writing, the leading cryptocurrency commands a total market cap of $1.33 trillion.

Bitcoin (BTC) has continued its ascent in recent weeks, reclaiming major highs. However, recent analysis suggests that the $57,000 level could be one of the most critical support points for the ongoing bull rally. This insight comes from a CryptoQuant analyst, Burak Kesmeci, who highlighted the role of Bitcoin Spot Exchange-Traded Funds (ETFs) in shaping the market stance. Bitcoin Resilience At The $57,000 Level Spot ETFs have emerged as a major instrument in the Bitcoin ecosystem, offering a regulated entry point for institutional investors. According to Kesmeci, the average cost of Bitcoin Spot ETFs has been a key support level throughout 2024, providing a foundation for the asset’s price stability. This level is pegged at $57,000 and has held firm throughout the year, with only two significant exceptions. The $57,000 price level is significant because of its technical support and the psychological implications for Spot ETF investors. Bitcoin’s price dipped below this support level twice in 2024. The first instance was in early August, driven by Japan’s market turbulence, and the second in September due to a sharp price correction. Despite these market shocks, Spot ETF investors did not react with panic selling. Kesmeci wrote: Foundation Set For Positive Move According to the CryptoQuant analyst, these investors demonstrated resilience by holding onto their investments, even when unrealized losses mounted. Their ability to withstand market pressure contrasts with typical behavior in other speculative sectors, where sudden price drops often lead to mass sell-offs. This suggests that Spot ETF investors have grown more comfortable with Bitcoin’s inherent volatility, recognizing its long-term potential. The analyst highlighted that minor outflows during these turbulent periods were not significant enough to disrupt the broader market. Even during Japan’s “carry trade” crisis, where many expected a stronger market correction, the overall sentiment among Spot ETF investors remained calm. In conclusion, Kesmeci noted: Featured image created with DALL-E, Chart from TradingView

Crypto analysts Amonyx and Egrag Crypto have provided a bullish outlook for the XRP price with “something big” on the horizon. Based on their analysis, the long-awaited price breakout for XRP could soon happen. Something Big Is Coming For XRP Price Crypto analyst Amonyx stated in an X post that something big is coming for the XRP price. His accompanying chart showed that the crypto could enjoy a massive rally to $75. The analyst made this prediction based on XRP replicating a similar run that it enjoyed in the 2017 bull run when its price surged by over 61,000%. The chart showed that XRP consolidated for a year before it broke out and enjoyed that unprecedented rally. In line with this, the analyst highlighted how XRP has been consolidating since then, suggesting another price breakout is imminent. Amonyx has recently been more bullish on the XRP price. Before now, he predicted that the crypto would reach between $50 and $57 at the peak of this bull run. However, his recent prediction offers a more bullish outlook for XRP. Interestingly, he also recently predicted that the crypto could enjoy a “giga pump” to $400. These bullish XRP predictions are believed to be partly because of the recent applications by Bitwise and Canary Capital to offer an XRP ETF. These funds could contribute to a significant rally for XRP since they will attract more institutional investors into the coin’s ecosystem. Therefore, these XRP ETFs will positively impact the XRP price just like the Spot Bitcoin ETFs did for the Bitcoin price. Meanwhile, in the short term, Amonyx also expects that the XRP price could enjoy a significant rally. In a recent X post, he shared an XRP/Bitcoin chart and told XRP holders that a God candle was coming soon. XRP’s Breakout Target To Keep An Eye On Crypto analyst Egrag Crypto highlighted $0.61 and $0.62 as the breakout targets to keep an eye on. He noted that the breakout point is getting lower and added that the XRP has a maximum of 70 days left before it reaches the final pinnacle of the breakout point. Egrag Crypto further remarked that he is convinced that the price breakout could happen sooner than expected, within the next 15 to 30 days. According to him, the pressure is building and won’t stay contained for much longer. Indeed, XRP’s consolidation dates way back to the 2021 bull run when it failed to reach a new all-time high (ATH). The $0.60 price level has also proven to be strong resistance for the coin, as it has retested and failed to break above it multiple times since Judge Analisa Torres delivered her final judgment in the Ripple SEC lawsuit in August. At the time of writing, the XRP price is trading at around $0.55, up over 3% in the last 24 hours, according to data from CoinMarketCap.

On-chain data shows the Bitcoin whale transactions have spiked following the latest rally, a sign that profit-taking may have begun. Bitcoin Whale Transaction Count Now Highest In Over 10 Weeks According to data from the on-chain analytics firm Santiment, the Bitcoin whales have shown an increase in activity recently. The indicator of relevance here is the “Whale Transaction Count,” which keeps track of the total amount of transfers taking place on the BTC blockchain that are carrying a value of at least $100,000. When the value of this metric is high, it means the whales are making a large number of moves on the network right now. Such a trend implies these humongous holders have an active interest in trading the coin. On the other hand, the indicator being low suggests the whales may not currently be paying much attention to the cryptocurrency as they aren’t making too many transactions. Now, here is a chart that shows the trend in the Bitcoin Whale Transaction Count over the last few months: As displayed in the above graph, the Bitcoin Whale Transaction Count has seen a notable spike recently, suggesting that the whales have made a large amount of transfers. More particularly, these humongous entities made a total of 11,697 transfers in the span of 24 hours at the peak of this spike. Generally, it’s hard to say anything about what sort of transfer activity it is exactly that the whales are participating in based off the Whale Transaction Count alone, since both selling and buying transactions look the same from the perspective of the indicator. The accompanying price action, though, can provide some hints. The latest peak in the metric is the highest that the indicator has gotten since early August. Back then, the spike had coincided with a crash in the asset’s price, implying that a lot of the whales’ moves may have had been for selling. The current increase in the Whale Transaction Count has come as Bitcoin has been rallying, so it’s possible that the whales may be participating in profit-taking again. Since the spike occurred, BTC has slid down under $67,000, which may add evidence for this. In the same chart, Santiment has also attached the data for another BTC metric: the Social Dominance. This indicator basically tells us about the share of social media discussions that Bitcoin is occupying as compared to the total for the top 100 assets in the sector. From the graph, it’s apparent that the Social Dominance has spiked to 25.5% for the cryptocurrency, which is the highest value since late July. Thus, Bitcoin’s mindshare is currently high when compared to that of the altcoins. This is usually a sign of fear of missing out (FOMO) among traders. Historically, excessive hype has been a poor sign for BTC, with tops often following it. “Both of these signals are signs that the rally may be on hold due to key stakeholder profit taking and high crowd FOMO,” notes the analytics firm. BTC Price At the time of writing, Bitcoin is trading at around $66,900, up more than 9% over the last week.

Bitcoin is holding strong above $67,000 after setting a new local high of around $68,300, fueling excitement among investors. This bullish momentum is driven by price action and supported by key market data signaling a potential uptrend continuation. Daan, a top crypto analyst, shared crucial insights showing that Bitcoin ETFs have been buying heavily for the past four days. This surge in institutional demand is a positive signal for the market, as it could further propel Bitcoin toward new all-time highs. The next few days will be critical for Bitcoin’s trajectory, with many traders and investors eyeing a potential breakout to historic levels. The anticipation grows as BTC edges closer to these highs, making the upcoming price movements pivotal in shaping the market’s direction. Bitcoin Demand Rising The whole market is buzzing with excitement and volatility, with Bitcoin leading the way by establishing a clear uptrend since early September. Analysts and investors are attributing part of this surge to the Federal Reserve’s recent interest rate cuts, but other significant factors influence Bitcoin’s price action. Key data shared by Daan, a top crypto analyst, reveals that Bitcoin ETFs have seen substantial inflows over the past week. The last four trading days alone have witnessed a combined $1.639 billion in inflows, making this week one of the most successful since the inception of Bitcoin ETFs. This surge in institutional demand signals that traditional investors are increasingly confident in Bitcoin’s future, driving up demand and boosting the price. Despite the current optimism, there is caution among market observers. Historically, periods of heightened excitement and euphoria in the market are often followed by price retracements or consolidation. Bitcoin tends to mark local tops when sentiment peaks, which could signal a cooling-off period before the next major move. Investors are closely watching for signs of a potential pullback or whether Bitcoin will continue to climb toward new all-time highs in the weeks ahead. Key Levels To Watch Bitcoin is trading at $67,000 after a 2% retrace from its recent local top at $68,388. Despite this slight pullback, the price is holding firmly above the previous high of $66,500, signaling a strong consolidation phase that could set the stage for another move higher. For the bullish momentum to continue, BTC must maintain its position above $66,500. If it does, the price could soon push toward new highs. However, if Bitcoin fails to hold above this critical level, a healthy retrace to the daily 200-day moving average (MA) would still indicate strength in the market. The 200-day MA has historically been a reliable support level during uptrends, providing a foundation for further gains. If the price falls below the 200-day MA, a deeper correction to $60,000 is likely. This level represents significant demand and could offer another buying opportunity before the next leg. Featured image from Dall-E, chart from TradingView