💰 Bitcoin miner MARA warns AI mirrors 2000s internet boom, firms risk overbuilding infrastructure: Bernstein
In a recent interview with analysts at research and brokerage firm Bernstein, Fred Thiel, CEO of bitcoin miner MARA (formerly Marathon Digital), said the current AI environment resembles the early 2000s internet boom — and many companies, particularly smaller players, risk overbuilding infrastructure without sufficient demand.
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💰 Bitcoin on track for longest flat market in halving year history
Bitcoin (BTC) is on track to experience its longest period of sideways trading during a halving year if it doesn’t show significant upward movement within the next 14 days. Bitcoin achieved its highest return index during a halving year in 2020, when it hit 4.05 points, while 2016 marked the worst halving year in terms of returns, with the index only reaching 2.26 points.
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💰 Compass Mining Partners With Mindshift to Expand Bitcoin Mining in South Korea
Compass Mining has announced a partnership with Mindshift, a licensed digital asset service provider in South Korea, to extend bitcoin mining services to the region. The collaboration aims to address challenges like high electricity costs while making bitcoin mining more accessible to South Korean residents.
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💰 US spot Bitcoin ETFs log $300 million weekly outflow, reversing three-week trend
US-based spot bitcoin exchange-traded funds logged a modest daily inflow on Friday, but ended the week with a net negative outflow for the first time since Sept. 6. The total net assets held by the funds has declined from $61.21 billion on Sept. 27, one week ago, to $57.73 billion following the week's outflows and bitcoin's decline in price from about $65,000 on Friday the 27th to about $62,000 on Friday, Oct. 4th.
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💰 Bitcoin’s historic ‘Uptober’ trend faces challenges amid high futures interest, cooling spot buys
Bitcoin’s (BTC) usual strong performance in October is threatened by high open interest in futures contracts and flattening buying activity by spot investors, according to the Sept. 30 edition of the “Bitfinex Alpha” report. The report highlighted that October has consistently delivered strong results for Bitcoin, with an average return of 22.9% and a median return of 27.7% since 2013.
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💰 Bitcoin spot ETF options could potentially impact demand for the underlying asset, analysts say
The recent approval by the U.S. Securities and Exchange Commission (SEC) for BlackRock to list and trade options for its spot Bitcoin exchange-traded fund, the iShares Bitcoin Trust ETF (ticker: IBIT), has added a new layer of complexity to the cryptocurrency landscape, analysts say. CryptoQuant analysts have raised a crucial question: Could this shift lead to decreased demand for physical Bitcoin as more institutional traders turn to "paper" derivatives instead of directly investing in spot bitcoin ETFs?
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🪙 #Bitcoin rallies amid positive U.S. jobs data and reports of more China stimulus measures
Bitcoin has rallied above the $65,000 mark over the past 24 hours, buoyed by a broader stock market rally following positive U.S. jobs data and economic stimulus promises from China. The equity markets experienced gains after Chinese leaders pledged to bolster the economy through additional stimulus measures, alongside favorable labor market indicators from the U.S. Last week.
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💰 #Bitcoin finds support near active realized price level mirroring early 2021 bull run
The active realized price serves as a significant indicator of market performance. Over the past five years, it has functioned as a critical support or resistance level, with Bitcoin’s price frequently oscillating around this metric. Key observations from 2019 to 2024 include periods of overvaluation during market peaks, such as in 2021, when Bitcoin’s price surged above the active realized price, reflecting heightened investor energy.
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🇨🇳 China persists as 💰 #Bitcoin mining giant despite crypto ban – CryptoQuant
China continues to control 55% of the global Bitcoin network’s hashrate, despite a ban on crypto mining and trading that has been in effect since 2021. According to CryptoQuant data, the country’s significant presence in Bitcoin mining persists, but its dominance is now being challenged as other countries, such as the US, increase their share of hashrate.
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🇺🇸 Judge dismisses Consensys lawsuit against SEC over MetaMask and Ethereum claims
A U.S. district judge has dismissed a case brought against the Securities and Exchange Commission by blockchain and web3 development company Consensys Software Inc. Judge Reed O'Connor in the U.S. District Court for the Northern District of Texas in the Fort Worth Division dismissed Consensys' claims and sided with the SEC on Thursday.
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💰 KPMG calls for stronger custodial practices to boost Bitcoin adoption
Global accounting firm KPMG believes that strong custodial practices are key to boosting Bitcoin (BTC) adoption among institutions and businesses. According to its recent report titled “The Importance of Custodians in Bitcoin Adoption and Ownership,” custodians play a crucial role in safeguarding Bitcoin holdings and are vital for the industry’s growth.
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💰 BTC Miner Cathedra Shifts Focus to Bitcoin Acquisition Strategy
Cathedra Bitcoin Inc. has announced a significant shift in its corporate strategy, moving away from bitcoin mining to focus on growing its bitcoin holdings. The company aims to increase its shareholders’ bitcoin per share through a strategy similar to that of Microstrategy, which has gained recognition for its bitcoin acquisition policy.
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💰 92% of Bitcoin exchange inflows come from short-term holders
In the past month, the majority of Bitcoin exchange inflows have come from short-term holders, based on CryptoQuant data. According to the data, addresses that held BTC for less than three months made up over 92% of the total exchange inflows on Sep. 12. Over 83% of exchange inflows came from coins held for less than a week.
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💰 Standard Chartered: Bitcoin Could Hit $125K Under Trump, $75K Under Harris
Standard Chartered has reaffirmed its projection that bitcoin will hit new all-time highs by the end of 2024, regardless of the U.S. election outcome. The bank’s digital assets head predicts bitcoin could reach $125,000 under Trump or $75,000 under Harris, with temporary drops under a Harris presidency. Regulatory concerns loom, but other factors, like U.S. Treasury curve movements, provide a positive outlook.
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💰 Bitcoin ETFs records over $800 million inflows in 2 days, Ethereum remains quiet
On Oct. 11, Bitcoin ETF net inflows totaled $253.6 million. Fidelity’s FBTC ETF led the way with $117.1 million in inflows, while Ark’s ARKB ETF added $97.6 million. Bitwise’s BITB ETF posted $38.8 million in inflows, and Invesco’s BTCO said $7.9 million. VanEck’s HODL ETF contributed $14.3 million. Grayscale’s GBTC ETF, however, saw outflows of $22.1 million. Other funds, including those from BlackRock, Franklin, Valkyrie, and WisdomTree, remained flat.
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💰 Bitcoin options show post-US election bullish bets and heightened volatility, analysts say
As the U.S. presidential election approaches, traders are bracing for increased bitcoin price fluctuations — and the options market reflects heightened expectations of volatility. Implied volatility — a gauge of expected future price fluctuations — has increased as derivatives traders are likely speculating on potential price upswings or hedging out possible downside risks for options expiring after the U.S. election on Nov. 5.
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💰 Bitcoin dips into bear market zone though realized price shows room for growth to $127,000
Bitcoin's recent activity has analysts split: are we witnessing the end of the 2024 bull run or merely a temporary pause before an even bigger surge in 2025? While the CryptoQuant indicator shows a shift to a bear phase, historical data suggests a bull peak often occurs much later. The realized price chart, a key predictor, indicates Bitcoin is at the middle of its cycle.
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💰 L2 Scaling Challenges May Undermine Ethereum and Bitcoin’s Long-Term Security
Ethereum and Bitcoin, two of the world’s largest blockchains, are facing significant challenges in scaling their networks. As more users and transactions move to layer two (L2) solutions, these systems could undermine the security and sustainability of the base layer (L1), with fees and rewards for miners and validators dwindling.
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💰 New HBO documentary aims to reveal Bitcoin creator Satoshi Nakamoto's true identity
An upcoming HBO documentary aims to reveal the true identity of the pseudonymous creator of Bitcoin, Satoshi Nakamoto. Nakamoto, the famously anonymous inventor of Bitcoin, apparently vanished in December 2010. Estimates are that if Nakamoto is still around, the Bitcoin creator could control as much as 1.1 million bitcoin, currently worth about $67 billion, at least on paper.
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💰 US Bitcoin ETFs Close In on Satoshi’s BTC Stash, Holding 924,768 BTC
Since Jan. 11, 2024, twelve U.S. spot bitcoin exchange-traded funds (ETFs) have been steadily accumulating bitcoin (BTC). This doesn’t include the hefty BTC stash held by Grayscale’s GBTC, which has experienced a total outflow of $20 billion. Right now, these bitcoin funds hold an impressive 924,768.09 BTC, and if they continue scooping up BTC at their current pace, they could surpass Satoshi Nakamoto’s famous 1 million BTC in just over a month.
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💰 US spot #Bitcoin ETFs continue net inflow streak, reaching $365 million on sixth day
Spot bitcoin exchange-traded funds in the U.S. recorded total daily net inflows of $365.57 million on Thursday, the largest since late July. Thursday’s inflows extended the positive run to its sixth consecutive day, according to Sosolvalue data. Yesterday’s net inflows were led by Ark Invest and 21Shares’ ARKB, which recorded positive flows of $113.82 million, according to SoSoValue data.
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💰 BlackRock’s head of digital assets says #Bitcoin is risky, but still a ‘risk-off’ asset
BlackRock head of digital assets Robbie Mitchnick believes the crypto industry has made a marketing blunder when it comes to Bitcoin (BTC). A risk-on asset, like stocks, is something that investors buy when they are optimistic about the market and are willing to take more risk. Therefore, a “risk-off asset” is where investors move their money when they’re worried about market volatility.
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💰 #Bitcoin ETFs set to attract liquidity and speculation as IBIT options trading gains approval
Last week, the U.S. Securities and Exchange Commission approved BlackRock's proposal to list and trade options for its spot bitcoin exchange-traded fund, the iShares Bitcoin Trust ETF (ticker: IBIT). Firms like Grayscale and Bitwise have also been looking to list and trade options for their spot bitcoin ETFs following the SEC's approval of 11 spot BTC ETFs in January.
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💰 VanEck reports surge in Bitcoin interest amid growing institutional, sovereign adoption
VanEck said interest in Bitcoin (BTC) is significantly higher than 12 months ago as institutions and nations continue to push for adoption. According to a Sept. 19 report, the key reasons behind this surge in interest include growing institutional adoption through exchange-traded products (ETPs) and sovereign involvement in mining and global transactions.
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💰 Analysts predict Bitcoin volatility spike as market aligns like a ‘coiled spring’
Bitcoin’s (BTC) spot volume hit $16 billion on Sept. 18 following the US Federal Reserve confirming a 50 basis point interest rate cut. According to FalconX head of research David Lawant, the high volume paired with the liquidity setup shown in the past six months could be a sign of impending high volatility.
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🔥 BREAKING: 🇺🇸 Federal Reserve cuts interest rates by 50bps for the first time in 4 years.
🤝 @Cryptocurrency_Inside ✅
💰 Bitcoin exchange depositing addresses at lowest level in years, indicating potential relief in selling pressure: CryptoQuant
Bitcoin centralized exchange depositing addresses are at their lowest level since 2016 which could indicate a reduction in selling pressure. The number of bitcoin exchange depositing addresses has dropped to 132,100, a multi-year low, according to a recent CryptoQuant research note. This metric represents the number of addresses sending inflow transactions to exchanges, and the analysis suggests that a multi-year low indicates a decrease in the number of investors selling coins on spot exchanges.
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💰 Bitcoin mining CEOs agree on $250k price target for 2028 halving
Bitcoin mining executives from top firms gathered at the HC Wainwright Bitcoin Mining Panel on Sept. 10 to discuss industry trends, challenges, and the future of Bitcoin. The panel, moderated by Anthony Scaramucci of SkyBridge Capital, featured CEOs from prominent mining companies, including Bit Digital, Bitfarms, CleanSpark, Core Scientific, and Marathon Digital Holdings.
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