Bitcoin bears turn ‘giddy’ at prospect of sub-$60K BTC price
Analysts say Bitcoin price pullbacks “will happen” and suggest that traders avoid impulsive trading.
Bitcoin (BTC) price will need to drop around 12% from its current $67,250 level for skeptics to have their bearish outlook confirmed, according to a crypto analyst.
“Bears can only get giddy if BTC breaks below $58.8k,” crypto analyst Matthew Hyland opined in an Oct. 17 X post amid Bitcoin trading at $67,248, up 10.88% over the past seven days, according to TradingView data.
Hyland said that anything less than that “is just noise if we see a pullback.”
Better Know a Crypto Candidate: Kari Lake
As part of its coverage of the 2024 US Elections, Cointelegraph asked several congressional candidates for their positions on cryptocurrency and blockchain.
Kari Lake is running to represent the state of Arizona in the United States Senate. A far-right Republican who refused to concede her loss in the state’s 2022 gubernatorial election, Lake will face off against Democrat Ruben Gallego in November.
In August, Lake updated her campaign platform to include “building a robust but open framework to protect the cryptocurrency economy.”
She claimed to be a “pro-crypto candidate” on X, supporting some of Republican presidential candidate Donald Trump’s statements advocating for Bitcoin (BTC) “as a last line of defense against our foreign adversaries.”
Stripe in talks to acquire stablecoin platform Bridge — report
Stablecoins pegged to the United States dollar have outpaced Bitcoin as a store of value in developing countries with runaway inflation.
Stripe, a payments processing company, is reportedly in talks to acquire stablecoin platform Bridge, according to unnamed sources familiar with the deal.
According to Bloomberg, the deal has not yet been finalized, and either party could still walk away without inking an agreement.
The potential acquisition by Stripe comes amid the payment company’s planned re-entry into the digital asset sector after a six-year break from providing crypto payment services.
Bitcoin price drops under $67K as investors chase profit in stocks
Bitcoin pulled back from its range high as investors moved to greener pastures, but a possible misstep by the SEC could benefit BTC.
Bitcoin (BTC) briefly ventured above $68,000 on Oct. 16, the highest level since August, but holding this level proved harder than anticipated. With Bitcoin price now trading below $67,500, the primary question at hand is whether BTC price can restore its bullish momentum.
Stronger-than-expected economic data in the United States reduced investors’ appetite for alternative hedging instruments, while a strong earnings report by TSMC shifted traders’ attention to the stock market.
The macroeconomic environment played an important role in Bitcoin’s rejection at $68,000, but one event in the cryptocurrency industry in particular has triggered expectations of a more benevolent attitude toward crypto from the current Biden-Harris administration.
HUMBL issued US patent for blockchain payments technology
The company’s CEO described getting a blockchain patent in the US as “a very challenging process.”
Blockchain firm HUMBL recently announced that the United States Patent and Trademark Office (USPTO) formally issued a patent for the company’s blockchain technology.
The patent was issued on Oct. 15 for HUMBL’s nebulously titled “System and Method for Transferring Currency Using Blockchain.”
While this isn’t the first company to receive a US patent for blockchain-related technology, the time frame surrounding the patent’s approval and issuance highlights one of the regulatory difficulties faced by small businesses in the blockchain and cryptocurrency industries.
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Top Trader Issues Warning on Memecoins, Says Trade Idea Already ‘Consensus’ and Getting Saturated
A veteran trader known for timely crypto calls is issuing a warning over memecoins as he suggests the sector may have reached peaked popularity. Pseudonymous trader The Flow Horse tells his Telegram channel that memecoins may soon fade as another crypto sector ascends. “Let me stress this: nothing in this market – or in life, […]
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Bitcoin Adoption Reaches Critical Low in El Salvador Despite Government Push
A new survey has found that bitcoin usage has dropped to critical levels in El Salvador, with less than 10% of its citizens using it to make transactions. The numbers are surprising to analysts, given the push that President Nayib Bukele has made for bitcoin in the country since its adoption as legal tender in […]Cyprus freezes crypto applications ahead of EU-wide MiCA transition
The CySEC has warned crypto asset service providers of coming changes as the continent braces for MiCA.
The European Union will transition from national laws on crypto asset service providers (CASPs) to common Markets in Crypto-Assets (MiCA) regulations by Dec. 30. The Cyprus Securities and Exchange Commission (CySEC) is providing an example of that transition as it freezes CASP applications and warns market participants of changes to come.
The CySEC will no longer accept CASP applications under Cypriote national laws as of Oct. 17, the day of the announcement. CASPs that succeed in registering under the national laws before the Dec. 30 deadline will be able to operate under that jurisdiction until July 1, 2026, unless they are granted or refused authorization under MiCA Article 63 before then.
CASPs will be subject to the European Commission’s Regulatory Technical Standards and the Implementing Technical Standards once MiCA regulations kick in. Those standards have not been published yet, but the CySEC advised interested parties to refer to the Draft Technical Standards issued by the European Securities and Markets Authority (ESMA) in the meantime.
Kraken Unveils a New Wrapped Bitcoin Product—Here’s What It Means for Defi
Kraken has launched KBTC, a wrapped bitcoin product fully backed 1:1 by bitcoin and compatible with multiple networks. KBTC aims to expand bitcoin’s use beyond its native chain and into decentralized finance (defi) ecosystems. Kraken Introduces KBTC to Enhance Bitcoin’s Utility Across Networks Kraken’s KBTC is an ERC20 token that allows bitcoin (BTC) to interact […]
Moo Deng tops list as normies’ favorite meme coin in street survey
Moo Deng tops the meme coin popularity chart in a recent survey, highlighting its appeal among casual crypto enthusiasts.
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Decentralized Social Network Token DEGEN Drops 27% in Days Following New Coinbase Listing
A decentralized social media altcoin is nosediving just days after gaining support from the top US crypto exchange platform. New data reveals that social media token DEGEN went from a weekly high of $0.011 to $0.008 since being adopted by Coinbase on October 15th, a 27% drop. According to DEGEN’s website, the digital asset is […]
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The Big Role Ethena’s USDE Could Play in Hyperliquid’s Upcoming Mainnet
Ethena has proposed integrating its liquidity and hedging engine into Hyperliquid, a layer one (L1) blockchain set to launch its EVM mainnet. The proposal includes adding USDE, Ethena’s stablecoin, within the Hyperliquid ecosystem upon mainnet launch. Ethena Eyes Hyperliquid’s Rapid Growth for Next Phase of USDE Expansion The proposal outlines a cautious approach to integrating […]Sam Altman’s WLD token falls 10% following Worldcoin rebrand
Worldcoin, now ‘World’, sees a 10% token drop after unveiling new tech and expansion plans at San Francisco event.
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QCP Capital Reports Bitcoin Lifted by Spot Demand—What Analysts Are Watching Next
Bitcoin (BTC) enjoyed a 2.20% boost driven by rising spot demand, briefly touching $68,000 before settling at $67,000, according to Singapore-based digital asset trading firm QCP Capital. The firm highlighted strong options activity and inflows into exchange-traded funds (ETFs), with analysts pointing to a growing wave of optimism in the market. Bitcoin Inches Toward Record […]Cosmos Developer Releases ‘Urgent Warning’ About ATOM Liquid Staking Model, Says North Koreans Wrote Code
The developer of interconnected blockchain network Cosmos (ATOM) is warning that the Liquid Staking Module (LSM) of the Cosmos Hub poses serious security risks. In a statement, Cosmos co-founder Jae Kwon says that when developer Zaki Manian began building the LSM in August 2021, Jun Kai and Sarawut Sanit, coders who were later linked to […]
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Trader Justin Bennett Issues Ethereum Alert, Says ETH Potentially Forming Bearish Pattern – Here Are His Targets
A widely followed crypto analyst is issuing an alert about Ethereum (ETH), saying that the top altcoin appears to be forming a bearish pattern. In a new strategy session, crypto trader Justin Bennett tells his 113,200 followers on the social media platform X that the second largest digital asset by market cap could be forming […]
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Ripple CEO says IPO is not a priority but remains possible amid SEC battle
Ripple CEO discusses future strategies, SEC challenges, and offers insights on Ripple’s IPO status and new stablecoin.
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Bank of America Warns $35,751,000,000,000 National Debt Will Surge To ‘Unprecedented Levels’ As US Lender Recommends One Asset To Investors
Bank of America says the $35.751 trillion national debt will rise to “unprecedented levels” in the years ahead, according to a new report. The banks’ analysts just sent a note to clients stating the US will be forced to pay increasing interest on the debt as spending once again ramps up, reports Investing.com. And although […]
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Cryptoquant Data Reveals the Power Behind Bitcoin’s Latest Price Surge
Bitcoin prices have jumped by over 5%, reaching a ten-week peak at $67,800, as demand for the digital asset has climbed steadily. This increased interest comes from spot exchange-traded funds (ETFs) and significant bitcoin accumulation by large investors, commonly known as “whales,” according to research from Cryptoquant. Cryptoquant: Bitcoin Prices Surge as Demand from Spot […]Elon Musk’s Tesla Moves $760,000,000 in Bitcoin to New Wallets for First Time in Two Years: Arkham Intelligence
Electric car maker Tesla just moved its Bitcoin (BTC) holdings that have been untouched for the past two years. Data from blockchain analytics platform Arkham Intelligence shows that the company made a series of on-chain transactions on October 15th, the first time since June 2022. Tesla transferred nearly all of the Bitcoin in its reserve […]
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US-Based Crypto Exchange Announces Launch of New Kraken Wrapped Bitcoin (kBTC)
The second largest US-based crypto exchange by trading volume is launching a new 1:1 Bitcoin (BTC)-pegged token. According to a new announcement, Kraken just dropped Kraken Wrapped Bitcoin (kBTC), a wrapped BTC token fully backed by the exchange. “We are thrilled to launch Kraken Bitcoin (kBTC), a fully backed, cross-network-compatible ERC-20 representation of Bitcoin custodied […]
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Venezuelans Crave USDT as Dollar Exchange Rate Explodes
Venezuelans have ramped up the use of Tether’s USDT, as it has become one of the largest sources of dollar liquidity in national markets. While the government has tried to contain the black market exchange rates by injecting dollars into the banking sector, it has enjoyed limited success, with Tether adoption ramping up as an […]
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Real Vision Crypto Analyst Jamie Coutts Says One Catalyst Could Trigger Bitcoin Explosion to Above $500,000
Real Vision analyst Jamie Coutts believes that one investment trend could be the catalyst that sends Bitcoin (BTC) soaring to six figures. Coutts says that increasing Bitcoin adoption among money managers could cause the flagship crypto asset to increase by more than 643% of its current value before 2030. “Every time a money manager chooses […]
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Is Microstrategy’s Bitcoin Leverage a Bigger Threat Than FTX? Vinny Lingham Suggests It’s Possible
Earlier this week, the well-known entrepreneur and investor Vinny Lingham, originally from South Africa but now based in the U.S., sparked a conversation on X by sharing his thoughts about Microstrategy. This company holds an enormous amount of bitcoin on its balance sheet. Lingham suggested that Microstrategy could potentially cause harm to bitcoin, possibly even […]Pepe Unchained ICO Secures $20M for New Meme Coin Layer-2 Network, Opens Developer Grants
In a market always hunting for the next big thing, Pepe Unchained (PEPU) is standing out. With a huge $20 million now raised in its ICO, this new project is continuing to attract attention from investors and analysts alike. And given the development team’s grand vision, it’s easy to see why investors are jumping on […]
XRP Rival Stellar (XLM) Announces New Partnership With Mastercard To Aid Consumers and Businesses
NO BYLINE, THANK YOU XRP rival Stellar (XLM) is partnering with Mastercard’s crypto payment solution. Mastercard Crypto Credential aims to verify interactions between consumers and businesses using blockchain networks. The product enables payers to send crypto using a recipient’s email address, rather than a long blockchain address. Stellar and Mastercard are partnering to enable remittances […]
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FBI Arrests Alabama Man in Connection With SEC X Account Hack That Spiked Bitcoin Prices
A man from Athens, Alabama, was arrested Thursday for his role in the January 2024 hack of the U.S. Securities and Exchange Commission’s X account. The hack led to a false announcement regarding bitcoin exchange-traded funds (ETFs), temporarily causing bitcoin prices to rise by $1,000. SEC X Account Hacker Has Been Arrested According to the […]FBI arrests man behind SEC twitter hack posting fake Bitcoin ETF approval
The incident highlights the vulnerability of financial markets to misinformation and the critical need for robust cybersecurity measures.
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