Bitcoin miners could liquidate $5 billion in BTC after the halving, according to calculations by 10x Research head Markus Thielen

"The surplus from this sale could last four to six months, which explains why bitcoin could move sideways over the next few months, as it has done after previous halvings."

Thielen said the same thing could happen again: that crypto markets could potentially face "a major challenge in a six-month 'summer' lull."

Thielen also believes that altcoins, in particular, could bear the brunt of this situation. Many of them have pulled back sharply over the past week and many are still a long way from their 2021 highs.

“Even if there is a correlation between the halving and an altcoin rally, as some predict, historical evidence shows that the rally usually begins almost six months later.”

Thielen posited that Marathon, the world's largest bitcoin miner, has built up inventory "that will likely be sold off gradually after the halving to avoid a revenue cliff."

As Marathon (currently) produces between 28 and 30 BTC per day, this could result in 133 days of additional supply hitting the market plus the BTC it produces, which would be 14-15 BTC per day after the halving, he said.

“Other miners are likely to follow a similar strategy to gradually liquidate some of their inventory.”

The researcher concluded that if all miners have a similar strategy for selling post-halving inventory, "it could result in a maximum of USD 104 million of BTC sales per day, reversing the imbalance between supply and demand that caused the rally." of BTC pre-halving"

Marathon CEO Peter Thiel said the company's breakeven rate would be around $46,000 per BTC to remain profitable after the halving, predicting that significant price movements are unlikely in the six months following the event. .

😱🚀😱 SURPRISE YOURSELF😱🚀😱

Will #Solana reach $450?

Solana price $SOL hits 3-month high
These 5 analysts expect a new yearly high

Solana (SOL) price has been rising rapidly since October 13 and is approaching its yearly high.

Solana price also broke an inverse head and shoulders pattern.
How long will it continue to rise?

Analysts are optimistic about Solana
Analysts at #criptomonedas have a predominantly bullish sentiment towards Solana.

Tradermayne believes the price will rise to $40. But his bullish analysis is conditional on a bullish weekly candle close.

Rager and DaanCrypto also noted the importance of the $38 horizontal resistance area, which coincides with the yearly high. This area has been crucial since 2021, supporting and resisting.

Finally, CryptoGodJohn believes that SOL price will eventually reach $250 in the long term and may even reach $450 if it reaches the market cap of #Ethereum

Will it reach the new yearly high?
The daily time frame shows that SOL price has been trading within an inverse head and shoulders (IH&S) pattern since February.
The IH&S is considered a bullish pattern, which usually leads to breakouts.

Today, SOL price is in the process of breaking out of the pattern neckline. A daily close above $26 will confirm the altcoin's breakout.
#crypto2023 #cryptocurrency

The IBIT from BlackRock dominates as spot bitcoin ETFs record $870 million in daily inflows, the highest since June

The 12 spot bitcoin ETFs in the United States reported total daily net inflows of $870 million on Tuesday, the highest since the first week of June. This was mainly due to net inflows of $642.87 million in the IBIT ETF, its largest daily inflow in over seven months.

BlackRock's spot bitcoin ETF, IBIT, recorded a daily trading volume of $3.360 billion, its highest volume since March 14.

Fidelity's FBTC recorded net inflows of $133.86 million, while Bitwise's BITB recorded inflows of $52.49 million. VanEck's HODL recorded inflows of $16.52 million, and Ark's ARKB and 21Shares recorded inflows of $12.39 million. The other five spot bitcoin ETFs did not record any flows.

The total trading volume of the 12 ETFs increased to $4.750 billion on Tuesday, up from $3.000 billion on Monday.

In a post on X, Bloomberg's senior ETF analyst, Eric Balchunas, wrote that the high trading volume of IBIT was "a little strange," as Bitcoin had risen by 4% at that time and "normally ETF volume increases in a recession or crisis".
#BTC☀ #bitcoin☀️ #BlackRock⁩ #BinanceSquareFamily #HotTrens

Bitcoin Analysts Predict Pre-Election Surge, Warn of Possible Post-Election Sell-Off

The price of bitcoin may surge ahead of the US election on November 5, but analysts warn that a sell-off could occur in the days following the election results, regardless of the winner.

“Profit-taking could weigh on the bitcoin price in the days following the announcement of the results, but dip buyers should hold strong support below $60,000,” Tyr Capital chief investment officer Edouard Hindi said. He added that regardless of the election outcome, bitcoin is likely to regain momentum in the medium term and target new highs in 2024.

Bitget Research chief analyst Ryan Lee reiterated this outlook, emphasizing that bitcoin is primed for significant growth in the coming week as Americans prepare to head to the polls next Tuesday.

"Several factors support the potential rise of bitcoin, in particular the expected interest rate cut by the US Federal Reserve. The market generally expects a 25 basis point cut on November 7, which would bring rates down to the 4.5% to 4.75% range, reflecting the need for adjustments to stabilize economic growth," Lee said.

Lee emphasized that the two-day gap between the US election and the Fed's rate decision could significantly influence the price of bitcoin.
"The direction of this impact will depend on whether a pro-bitcoin candidate emerges victorious."
#BTC☀ #Bitcoin❗ #BinanceSquareFamily #HotTrands #btc70k

What was the catalyst for Ape's surge?

ApeCoin's APE led the market growth among mid-caps with a 15% jump in the past 24 hours

The surge was motivated by the debut of its native blockchain network ApeChain.
Expectations among traders are that APE could see increased usage as tokens are issued on the new network, although consistent long-term usage remains to be seen.

$APE #Apeust #BTCSoarsTo68K #BTC☀ #bitcoin☀️ #APE

Bitcoin Nears $70,000 Amid Record $40 Billion Open Interest as Trump-Harris Election Nears

Solana's SOL led gains across major digital assets over the past 24 hours as risk-on sentiment pushed the market higher.

The looming US election is contributing to increased volatility, with some expecting further gains for Bitcoin in the coming days.

Theoretical open interest in US dollar-denominated bitcoin futures across all major exchanges surpassed $40.63 billion over the weekend, marking an all-time high.

In terms of tokens, open interest was 592,000 BTC, the highest since December 2022, when the cryptocurrency traded below $20,000 amid peak bearish sentiment.

Cash-margined open interest hit a new all-time high last week, with futures offered on the Chicago Mercantile Exchange (CME) accounting for 40% of the total, while surpassing $11 billion on the exchange.
Open interest refers to unsettled futures bets and indicates that there is new money entering the market. A rise in the metric, coupled with a price increase, confirms an uptrend.

“The recent breakout of 68k was accompanied by around $2.4 billion in new BTC inflows over the past 6 sessions, along with a corresponding rise in BTC futures OI, which is a constructive indicator for the establishment of new long positions,” said Augustine Fan, chief information officer at crypto wealth management firm SOFA.

Meanwhile, a critical open interest-based ratio tracked by CryptoQuant shows a sudden surge from 0.20 to 0.21 as the BTC price surged by $2000, indicating an increase in leveraged bets on the asset.#BTC☀ #Bitcoin❗ #BinanceSquareFamily #HotTrens $BTC

Trump's WLFI website crashes after token sale goes live with 2,987 holders

A wallet connected to the token holds nearly $4 million in ETH, $1.2 million USDT and around $250,000 in USDC.

The sale went live at 12:40 UTC, with more than 344 million of the platform's $WLFI tokens sold in the first place, blockchain data shows.

World Liberty Financial, backed by the Trump family, reported that it had whitelisted more than 100,000 accredited US investors ahead of its token launch on Tuesday.

Trump is the project's "leading crypto advocate." Two of his sons, Eric and Donald Trump Jr., are "Web3 ambassadors," while Barron holds the title of "DeFi visionary."
#donaldtrump #WLFI #BinanceSquareFamily #HotTrens #BTC☀ $BTC

Bitcoin Futures Funding Rate Hits Multi-Month High, Signaling Bullish Sentiment

Bitcoin’s open interest (OI)-weighted perpetual futures funding rate has hit a multi-month high, signaling potential bullish sentiment in the short to medium term, according to one analyst.

The current OI-weighted funding rate stands at 0.012%, a level not seen since July 27 when bitcoin briefly surged to $68,000.

Ruslan Lienkha, head of markets at YouHodler, explained that while a positive funding rate generally indicates bullish market conditions, it should be interpreted with caution.

“A local spike in the positive funding rate may indicate a bullish trend in the short to medium term, but it should not be relied upon for long-term predictions due to the volatile nature of the cryptocurrency market,” Lienkha told The Block.

According to Lienkha, funding rates in traditional markets such as commodities typically reflect long-term trends due to their link to the real economy, which moves at a slower pace. However, the YouHodler analyst noted that the cryptocurrency market behaves differently.

“Cryptocurrencies lack a direct connection to real economic processes, allowing market sentiment to change much faster,” he said. As a result, funding rates in crypto markets are more prone to fluctuation, making them a less reliable long-term indicator compared to other asset classes, he added.
#BTC☀ #Bitcoin❗ #BinanceSquareFamily #NeiroOnBinance #MemeCoinTrending $BTC

Do you consider World Liberty Financial a token launch by Trump or funding for his election campaign?

A presidential candidate launching a business during an election campaign is certainly unprecedented, but that is exactly what Donald Trump plans to do on Tuesday morning with the launch of his decentralized finance DeFi project World Liberty Financial.

In a Monday X space, the team behind the project said they are looking to raise $300 million with the token sale and have 100,000 accredited investors on the white list.

The launch of the WLFI token comes at a key moment, and its intentions seem to go beyond a simple financial project. This move can be interpreted in several ways

📌 Campaign Financing
📌 Consolidation of Support Base
📌 Reinforcing its Image as an Innovator
📌 Challenging Traditionality

In short, while the World Liberty Financial token can serve as a financing channel, it is also designed to reinforce its image and mobilize its followers. It is certainly a strategic move in the complex electoral landscape today.
#trump #donaldtrump #WLFI #BinanceSquareFamily #HotTrands $BTC

Bitcoin nears $65,000 as Chinese stocks rally

Bitcoin approached $65,000 after Chinese stocks shrugged off mixed reactions to stimulus plans to end the day higher.

The broader digital asset market, as measured by the CD20, is up around 2.9%.

The latest announcements from the Chinese government on stimulus plans fell short of expectations, but the Shanghai Composite Index closed the day up more than 2%. “Chinese stocks have recovered from weekend disappointments, so risk sentiment will likely remain in ‘buy all’ mode until further notice,” said Augustine Fan, head of information at SOFA.
$BTC

Avalanche Foundation to buy back tokens sold to LFG from Terra in 2022 settlement, pending court approval

In April 2022, Luna Foundation Guard, a Singapore-based non-profit that supported the then-collapsed Terra ecosystem with its UST stablecoin and LUNA token, purchased $100 million worth of Avalanche token stock to bolster its reserves.

However, the collapse of the Terra ecosystem in May 2022 put the future of the AVAX tokens it holds into question. Now, the Avalanche Foundation has announced that it has negotiated an agreement to buy back all 1.97 million tokens from the bankrupt Terraform Labs estate.

“This action ensures that LFG will not violate the original agreement’s restrictions on the use of the tokens and protects the tokens from the complexity of a liquidation by a bankruptcy trustee,” the Avalanche Foundation wrote in its announcement post on X.

While the Foundation did not include the financial terms of the deal in its announcement, the current value of 1.97 million Avalanche tokens is approximately $56 million at the list price, a 44% decrease from the stash’s original $100 million value.
#Avalanche #Avax🔥🔥 #NeiroOnBinance #BinanceSquareFamily #moonbix $AVAX

Trump-backed World Liberty Financial to begin public token sale next week

The WLFI token sale will be open to all who have qualified through the project's whitelist.

World Liberty Financial, the nascent decentralized finance (DeFi) protocol backed by Donald Trump and his family, announced plans to begin selling tokens on Tuesday, exactly three weeks before the presidential election for which Donald Trump is the Republican nominee.

"Public sale begins [on] October 15th, open to all who qualify through whitelist," the project's social media account posted on Friday.

The project aims to raise $300 million from token sales, with a valuation of $1.5 billion, according to its roadmap obtained and reported by The Block on Thursday. The upcoming token, called WLFI, serves as the protocol's governance token and would allow users to vote on initiatives regarding the protocol's development, the report added.

Trump family members, including Donald Trump, publicly defended the project on social media, with the former president being dubbed a “Chief Crypto Advocate.” Two of his sons, Eric Trump and Donald Trump Jr., are involved as “Web3 Ambassadors,” while his other son, Barron Trump, is listed as a “DeFi Visionary.”
#donaldtrump #Trump #BinanceSquareFamily #HotTrens #BTC☀ $BTC $AAVE

Mt. Gox Postpones Payment Deadline to 2025, Easing Concerns Over Bitcoin Selling Pressure

Cryptocurrency wallets linked to the defunct exchanges still hold $2.8 billion worth of bitcoin after distributing around $6 billion in assets to creditors earlier this year.

The trustee managing Mt. Gox’s assets has postponed the deadline for distributing the remaining assets to creditors by one year to Oct. 31, 2025, according to a Thursday statement posted on Mt. Gox’s website.

Mt. Gox, once the largest cryptocurrency exchange before it collapsed due to a hack in 2014, began repaying nearly $9 billion of recovered assets to creditors in July this year after many years of delays. However, cryptocurrency wallets linked to Mt. Gox still contain 44,900 bitcoins (BTC) worth $2.8 billion, data from Arkham Intelligence shows.

“Many rehabilitation creditors have not yet received their refunds because they have not completed the necessary procedures,” the Mt. Gox trustee’s statement said. “A considerable number of rehabilitation creditors have not received their refunds due to various reasons, such as issues arising during the refund process.”
#MtGox #BTC60KResistance #HotTrens #BinanceSquareFamily #BTC☀ $BTC

Donald Trump's odds of returning to the White House have risen to a more than two-month high on Polymarket

Traders give the former president a 55.4% chance to Vice President Kamala Harris' 43.7% on the prediction market site, where more than $1.6 billion has been bet on the November election.

Trump's chances have risen to levels last seen days after President Joe Biden said he would not seek re-election, clearing the way for Harris to take office. Another prediction market, Kalshi, which recently gained permission to quote contracts based on the US election, also shows Trump ahead of Harris: 53% to 47%.
#DonaldJTrump #kamalaharis #BTC60KResistance #BinanceSquareFamily #BTC☀ $BTC

Bernstein Reiterates Bitcoin Could Hit $80,000-$90,000 If Trump Wins Presidency Amid Odds Divergence by Polymarket

Analysts at research and brokerage firm Bernstein reiterated their prediction that bitcoin could hit new all-time highs in the $80,000 to $90,000 range if Donald Trump wins the US election next month. The analysis comes amid the largest odds divergence in favor of the former president since Vice President Kamala Harris accepted the Democratic Party nomination.

This year, Trump has repositioned himself as a pro-cryptocurrency candidate.

By contrast, Harris did not address cryptocurrencies in any of her speeches or policy statements until recently, and last month offered broader comments that she would encourage cryptocurrency business while protecting consumers, that the U.S. should become “blockchain dominant,” and that digital assets are part of her vision for an “opportunity economy.”

While Bernstein analysts believe Bitcoin will do well in the long run regardless of the outcome amid low rates, continued U.S. fiscal deficits, and unprecedented debt levels, the short-term reaction to the election could be material.

“A Trump win would be positive for the bitcoin and cryptocurrency markets,” Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia wrote in a note to clients Wednesday. “In the scenario of a Trump win, we expect bitcoin to hit a new high ($80,000 to $90,000) surpassing its previous high of $74,000. In the event of a Harris victory, in the short term, we believe that it could test a new low in the $40,000 range (previously untested in the recent correction).”

#BTC☀ #Bitcoin❗ #HBODocumentarySatoshiRevealed #moonbix #BinanceSquareFamily $BTC

In a move that could shake up the cryptocurrency market, the US government has been given the green light to liquidate thousands of bitcoins seized during the operation against the infamous Silk Road black market.

The US Supreme Court decided not to review the case regarding 69,370 bitcoins seized from the Silk Road marketplace. The Court confirmed that the US government can dispose of the bitcoins, valued at $4.329 billion, seized in 2022.

On October 7, the US Supreme Court declined to hear Battle Born Investments' case regarding the ownership of 69,370 BTC ($4.33 billion) seized from #SilkRoad, giving the government full control over the confiscated funds.

The last time the US government moved BTC was 2 months ago, when it moved 29.8K BTC ($2.02B), of which 10K BTC ($594M) was transferred to CoinbasePrime.

The US government currently holds 203,239 BTC ($12.63B), of which 69,370 BTC ($4.33B) related to SilkRoad 'Individual X' has remained untouched in the 'bc1qa5' wallet for 4 years.

What will the US government do, hold those#BTCor do like the German government, which liquidated all seized Bitcoins?

#SilkRoad #Bitcoin❗ #BTC☀ #HBODocumentarySatoshiRevealed #BTCReboundsAfterFOMC $BTC

Standard Chartered Says Solana Price Could Five-Fold by End of 2025 if Trump Wins Presidency

Based on current prices and the potential implications of Donald Trump winning the US presidential race, Standard Chartered's Geoff Kendrick forecasts that by the end of 2025, solana's price could quintuple, ether's could quadruple, and bitcoin's could triple in value.

"Roughly from current prices under Trump I forecast the following multiples by year-end 2025: SOL 5X, ETH 4X, BTC 3X," Standard Chartered's Global Head of Digital Asset Research said in a note on Tuesday.

He also said that if Kamala Harris were to become president, he expects bitcoin to outperform ethereum, which would, in turn, outperform solana. “In US dollar terms, we expect Ethereum to hit the $7,000 level by the end of 2025 in a scenario where Kamala Harris is president.”

Kendrick expects bitcoin to hit $200,000 by the end of 2025, regardless of the outcome of the November 5 election.

Kendrick outlined the specific conditions needed for his Solana valuation predictions to come to fruition. He believes that a Trump administration would be more favorable to the Solana ecosystem compared to a Harris administration. “The introduction of a Solana exchange-traded fund (ETF) would be more likely under a Trump presidency,” he said.
#SolanaUSTD #solana #Solana_Blockchain #HBODocumentarySatoshiRevealed #BTCUptober $SOL

Ethereum ETFs in the U.S. saw no inflows or outflows of money on Monday for the second time since listing in July.

Bitcoin ETFs, meanwhile, enjoyed their largest inflows since Sept. 27, netting $235.2 million.

Fidelity’s FBTC led the gains with $103.7 million, while BlackRock’s IBIT took in $97.9 million.

In contrast, all nine ethereum ETFs saw zero flows in any direction. The only other time this occurred was Aug. 30.

The figures underscore the differing fortunes of BTC and ETH products in the U.S. Bitcoin ETFs have seen inflows of nearly $18.75 billion since listing in January, while their ethereum equivalents are $500 million in the red since becoming available in July. #Ethereum #BTCUptober #HBODocumentarySatoshiRevealed #EtheruemETF #ETH🔥🔥🔥🔥 $ETH

Bitcoin Falls on Disappointment of China Stimulus Plans

Bitcoin retreated after China's stimulus plans failed to meet expectations.

Risk assets like BTC have been boosted over the past week by the prospect of a massive stimulus package from the People's Bank of China breathing some life into the country's economy.

However, the National Development and Reform Commission (NDRC) briefing appeared to lack urgency or details, putting a dent in market sentiment.

Bitcoin traded around $62,400, down roughly 0.87% over the past 24 hours. The broader digital asset market fell by around 1.45%, as measured by the CD20 index.
#Bitcoin❗ #BTC☀ #BTCUptober #HBODocumentarySatoshiRevealed #BinanceSquareFamily $BTC

US Government Backs Lawsuit Alleging Nvidia Misled Investors About Cryptocurrency Mining Revenue

The SEC and DOJ argued that cryptocurrency mining demand played a much larger role in Nvidia's success than suggested.

The US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have backed a class-action lawsuit against Nvidia, accusing the company of misleading investors.

According to court documents, both agencies filed an amicus brief backing Nvidia investors who allege the company misrepresented the impact of cryptocurrency mining on its 2017/2018 revenue.

The DOJ and SEC have urged the Supreme Court to revive the previously dismissed case. Attorney General Elizabeth Prelogar and SEC lead counsel Theodore Weiman argued that the lawsuit contains sufficient evidence to proceed.

Authorities have also requested 10 minutes to present oral arguments when the case goes to court in November.

According to the lawsuit, investors claim that Nvidia and its CEO, Jensen Huang, misled them about the company’s reliance on revenue from sales related to cryptocurrency mining.

They argue that Nvidia’s leaders downplayed the company’s reliance on cryptocurrency mining despite being fully aware of it. The company’s vulnerability became apparent when its revenue declined after the 2018 cryptocurrency market crash.

In response, Nvidia countered that investors relied on fabricated data about its revenue sources. However, investors maintain that its data, drawn from multiple reliable sources, indicates securities fraud.
#Nvidia's #BNBChainMemecoins #EIGENonBinance #BinanceSquareFamily #HotTrends $BTC