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Bitcoin traders take a breather as BTC price metrics hint new highs are incoming

Bitcoin fell short of its all-time high, but multiple Bitcoin price metrics show BTC price on target to hit new all-time highs 

Bitcoin (BTC) surged 9.7% from Oct. 27 to Oct. 29, reaching a peak of $73,575, before paring gains to retest the $71,500 level on Oct. 30. Despite Bitcoin’s price correction, several indicators—including derivatives market activity, onchain metrics, and stablecoin demand—suggest a solid foundation for a sustained rally above $73,000 in the near term.

But, the Bitcoin futures premium—a key gauge of leveraged demand—signals strong conviction from bullish investors.

Bitcoin 2-month futures premium. Source: laevitas.ch

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MicroStrategy stock jumps to record high following $2 billion Bitcoin purchase

Filecoin Creator Protocol Labs Announces Layoffs Amid Crypto Winter and Economic Downturn

Filecoin Creator Protocol Labs Announces Layoffs Amid Crypto Winter and Economic DownturnProtocol Labs CEO Juan Benet published a blog post on Friday announcing that 21% of the company’s staff will be laid off. Protocol Labs is the creator of the blockchain network Filecoin. Benet emphasized in the blog post that it has been an “extremely challenging economic downturn, worldwide, and especially in the crypto industry.” Protocol […]

MicroStrategy stock jumps to record high following $2 billion Bitcoin purchase