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Верховный суд США предоставил федеральным властям разрешение на продажу 69 370 биткоинов, ранее конфискованных у даркнет-площадки Silk Road.

Судья по делам о банкротстве округа Делавэр Джон Дорси одобрил план по распределению выплат кредиторам обанкротившейся криптовалютной биржи FTX.

Аналитики американского банка JPMorgan определили несколько факторов, способных повлиять на рост биткоина. По их мнению, несмотря на слабое начало, октябрь может оказаться бычьим для первой криптовалюты.

Сооснователь Эфириума Виталик Бутерин продал 10 млрд токенов MOODENG за 308,69 ETH (около $762 000) и пожертвовал 260 ETH (около $637 000) биотехнологической благотворительной платформе Kanro для борьбы с заболеваниями, передающимися воздушно-капельным путем.

Миллиардер и владелец баскетбольного клуба «Даллас Маверикс» Марк Кьюбан раскритиковал председателя Комиссии по ценным бумагам и биржам США (SEC) Гэри Генслера за усложнение правил регулирования криптовалют.

Более двадцати жителей города Грэнбери, штат Техас, подали коллективный иск против майнинговой компании Marathon Digital. Истцы жалуются на ухудшение состояния здоровья из-за «невыносимого» шума от ASIC-майнеров.

Positive sentiment around Dogecoin, the largest meme coin has seen notable growth, with a wave of bullish predictions from several crypto experts about its potential to undergo a major price movement on the upside, possibly to new all-time highs.

Impending Major Rally Set To Take Dogecoin To New All-Time Highs

Amidst recent market recovery, a crypto expert and trader with the username Javon Marks on X (formerly Twitter) has forecasted that Dogecoin might be about to experience yet another historic price breakthrough, which could run all the way to new all-time highs. The expert bold prediction is based on past bull run performances, where the dog-themed meme coin saw massive price movements to its previous all-time high point.

Considering these past significant bull runs and their similarities to prior climbs, Javon Marks believes that Dogecoin might be gearing up for another monumental surge that could push it to a new price peak and higher.

It is worth noting that the expert’s predictions imply an over 5X uptick from the current price of DOGE, given that the present all-time high level is about 555% away situated at the $0.73905 mark.

The post read:

Looking at DOGE’s (Dogecoin) previous bull run performances, prices of it, with their similarities to prior climbs, can be getting ready for yet another monumental upside to new all-time highs, and beyond. Current all-time highs are nearly +555% away at $0.73905.

This prediction highlights the strong optimism around Dogecoin, as the meme coin is showing signs of strength following a period of price consolidation. Another crypto analyst and enthusiast, Ali Martinez has also pictured a positive outlook for DOGE in the upcoming months.

After investigating previous trends and a breakout from a multi-year descending triangle pattern, the expert believes that the meme coin could be on the verge of the next big rally. “History often repeats itself, and Dogecoin might be doing just that,” he stated.

Historically, a breakout from the multi-year descending triangle formation is followed by a 200% surge, then a 60% retracement before a bull run. Given that the particular pattern has presently unfolded on the chart and DOGE has retraced by about 65%, Martinez anticipates a massive leg up in the short term similar to previous market cycles, potentially leading to a new all-time high.

Large DOGE Transactions On The Rise

These bullish forecasts for Dogecoin come in the midst of significant growth in the network activity due to a sharp rise in the number of large DOGE transactions, as cited by Ali Martinez. Data shared by Martinez shows that these transactions have been constantly growing, demonstrating heightened interest among whales and institutional investors.

According to the expert, the constant increase in huge transactions indicates that institutional investors and DOGE whales may be preparing for a possible upswing, as the meme coin displays optimistic price trends.

Директор по энергетике и строительству компании Intelion Data Systems Максим Симуткин считает, что предложение Минэнерго о переезде российских майнеров в регионы с избытком мощностей, чрезвычайно сложно реализовать.

Опрошенные изданием «Известия» эксперты заявили, что каждый россиянин, имеющий дело с криптовалютами, может оказаться в поле зрения сотрудников правоохранительных органов.

The upcoming release of an HBO documentary centered on the long-speculated identity of Bitcoin’s (BTC) creator, Satoshi Nakamoto, has ignited a frenzy in the cryptocurrency space, particularly with creating new memecoins. According to a Bloomberg report, these tokens are being launched to capitalize on the renewed interest in Nakamoto’s true identity.

Are Memecoins Back In The Spotlight?

Among the discussed names is Len Sassaman, a cryptographer who died in 2011. According to the report, many believe he could be revealed as Nakamoto’s true identity in the upcoming documentary Money Electric: The Bitcoin Mystery, which is expected to be released this week. 

Current data from the blockchain-based betting platform Polymarket indicates that Sassaman is the leading candidate; however, the implied probability of his being Nakamoto has recently fallen to 21%, down from a peak of 68% on October 3.

Memecoins have experienced a notable surge in popularity and newly created tokens over the past year, dubbed the “memecoin mania,” as investors flock to make quick gains versus established cryptocurrencies such as Bitcoin or Ethereum. 

Over the past year, the growth of these tokens has been significant, particularly as blockchains such as Solana (SOL) have made them easier and cheaper to create and trade. Commenting on the phenomenon, Ben Yorke, Vice President of Ecosystem at crypto exchange WOO X, said: 

Memecoins are acting like decentralized prediction markets, with many variations of a single theme popping up around emerging topics.

However, Yorke cautioned that this environment creates a “negative-sum” situation where insiders and influencers profit while everyday investors struggle to discern genuine trends and tokens.

Bitcoin Mystery Deepens

Adding to the intrigue, Meredith Patterson, Sassaman’s widow, has previously denied claims that her late husband was the creator of Bitcoin. Nevertheless, the interest in Sassaman has led Patterson to engage with the memecoin trend. On October 5, Patterson shared on social media platform X that she received memecoins honoring her cat, stating: 

Right, so, me not knowing really anything about the world of memecoins, I apparently sent a few DMers a Coinbase address. But if people are insisting on sending me memecoins about my cat, I’m not gonna say no.

Over the years, there have been numerous attempts to uncover Nakamoto’s identity, including a controversial article in Newsweek that incorrectly identified Dorian Nakamoto, a Japanese-American engineer, as the creator. Dorian has consistently denied any affiliation with Bitcoin.

It remains to be seen what further information the forthcoming documentary will reveal in this regard, which could lead to the revelation of the true identity behind Satoshi Nakamoto later this week after years of speculation. 

At the time of writing, the largest cryptocurrency on the market has managed to reclaim the $63,740 level after briefly dipping below the $60,000 mark at the end of last week. 

Featured image from DALL-E, chart from TradingView.com 

Japanese investment firm Metaplanet has added another 108.78 Bitcoin (BTC) to its existing holdings, bringing its total reserves to over 639 BTC.

Metaplanet Unfazed By Bitcoin Price Movement

In an announcement made on October 7, 2024, Tokyo-based Metaplanet revealed that it had purchased an additional $6.7 million worth of Bitcoin, adding 108.78 BTC to its existing reserves. 

The development comes at a time when geopolitical tensions in the world are at a rise, putting to test Bitcoin’s “global currency” narrative. However, some experts view this time as a buying opportunity for BTC, and Metaplanet’s actions appear to support this perspective.

It is also worth noting that October – historically a bullish month for BTC prices – has not had the best start this year. Nevertheless, bulls are confident of price gains toward the latter part of the month.

These developments appear to have little effect on Metaplanet’s Bitcoin thesis. Notably, the firm’s stock price surged following the latest BTC purchase, closing the day up 7.86%, with gains of 72 JPY (Japanese yen) or $0.49 USD.

Metaplanet has been on a Bitcoin buying spree this month, as it scooped up more than 107 BTC on October 1. Further, on October 3, the firm disclosed that it had earned around 23.9 BTC – worth almost $1.5 million at the time – by selling Bitcoin put options and collecting premiums. 

Metaplanet’s total Bitcoin holdings now stand at almost 640 BTC, worth over $40 million according to current market price of $63,720. The latest purchase has also elevated Metaplanet to 17th position in the list of publicly-listed companies with Bitcoin holdings.

According to the list, companies with the largest BTC reserves are MicroStrategy, Marathon Digital Holdings, Galaxy Digital Holdings, Tesla, and Coinbase.

Japan Wants To Attract Crypto Capital By Easing Regulations

Japan, known for its receptive attitude toward new and emerging technologies, has not had the best experience with digital assets, particularly following the infamous Mt. Gox hack in 2014.

However, Japan has recently expressed a desire to overhaul its stringent crypto regulatory framework. This is not surprising, as a recent survey found that the majority of Japanese institutional investors are considering entering the crypto space within the next three years.

Earlier this month, Japan’s Financial Service Agency (FSA) shared plans to reform the country’s regulations toward crypto gaming to stimulate growth in the blockchain gaming sector.

On October 2, an insider from the FSA said the financial watchdog is considering reviewing existing digital asset regulations, potentially paving the way for a crypto exchange-traded fund (ETF) and lower taxes on crypto gains. At press time, BTC trades at $63,720, up 1.9% in the last 24 hours.

In a recent opinion article, Ward Roddam, the mayor of a town called Rockdale, Texas, has highlighted the profound impact that Bitcoin (BTC) mining is having on his small town, claiming that it is ushering in a new economic renaissance – a “digital energy boom.” 

$1 Billion Impact On Rockdale’s Economy

Once known for housing one of the largest aluminum processing operations in the country, Rockdale faced significant economic challenges after its Alcoa plant shut down in 2008 due to rising energy prices and new regulations. 

With the loss of “hundreds of jobs,” the town’s population dwindled as families sought better opportunities elsewhere, resulting in a dramatic decline in tax revenue that hampered public services and infrastructure.

Roddam reflects on the despair felt by the community during those difficult years, stating, “It felt like the rug was pulled out from under us.” However, he points out that the closure of the aluminum plant left behind a critical energy infrastructure, positioning Rockdale as an ideal location for Bitcoin mining operations.

Initially skeptical about BTC’s viability and the motives of miners, Roddam’s perspective reportedly changed after he met with industry leaders: “I learned that bitcoin miners are deeply invested in the communities in which they work,” he said. 

Today, these companies reportedly employ “hundreds of local residents,” while creating mid-skill jobs that provide “well-paying” employment without necessitating relocation.

Rockdale’s financial boost from these Bitcoin mining operations is significant. Roddam states that mining companies have invested over $1 billion in the town, becoming significant contributors to the local economy and tax base. 

The mayor further explains that they support public services through taxation and contribute to community initiatives, including scholarships, local law enforcement, youth sports, and various civic events.

Roddam Urges Texas Leaders To Embrace Bitcoin Mining

Despite the positive impact observed in Rockdale, Roddam expresses concern about the “misconceptions” held by some policymakers at the state level. He argues that many underestimate the job creation potential of Bitcoin mining, stating, “My experience as mayor contradicts that.” 

The mayor emphasizes that Rockdale’s story is not isolated; the Bitcoin mining industry rapidly expands across Texas, creating over 22,000 jobs statewide. Roddam highlights the ongoing development in nearby Corsicana, where Riot Platforms is building a “state-of-the-art mining facility” that could become one of Navarro County’s largest employers. 

With projections of $1.4 billion in taxable purchases and over $115 million in wages over the next decade, Corsicana is poised to experience revitalization similar to Rockdale, Roddam noted.

In closing, Roddam urges Texas leaders to recognize and harness the benefits of Bitcoin mining, likening it to a “digital oil well” that can fuel the “economic revival of rural communities.” 

Roddam advocates for policies supporting this industry’s growth, asserting that with the right approach, Bitcoin mining can continue to provide significant economic opportunities for towns like Rockdale and beyond.

At the time of writing, BTC is trading at $63,300, up over 2% in the last 24 hours, after briefly breaching the $60,000 mark late last week.

Featured image from DALL-E, chart from TradingView.com

The latest report from CoinShares, a crypto asset manager, has revealed that digital asset investment products experienced a notable shift last week as $147 million in net outflows were recorded globally, ending a three-week streak of inflows.

CoinShares revealed that this ended inflow streak isn’t ordinary, as it results from a notable trend in the macroeconomic space.

Detailing The Fund Flows: Who’s Leading And Who’s Not?

According to CoinShares, the sudden outflow seen last week impacted major asset managers, including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, following nearly $2 billion in net inflows over the prior three weeks.

The outflows were largely led by Bitcoin-based funds, which accounted for $159 million in net outflows. In contrast, short-Bitcoin investment products attracted $2.8 million in net inflows, indicating that some investors are betting on a further downward price movement for the asset.

Ethereum-based products, on the other hand, which had just ended five weeks of outflows the previous week, resumed their negative trend, recording net outflows of $28.9 million.

James Butterfill, Head of Research at CoinShares, explained this was due to a “lackluster” investor interest in the asset. This indicates that while Ethereum had briefly stabilized in the eyes of investors, confidence in its performance has not been fully restored, resulting in continued outflows.

Meanwhile, multi-asset investment products, which provide diversified exposure across a range of cryptocurrencies, went against the overall trend by attracting net inflows of $29.4 million.

This marked the 16th consecutive week of positive flows for these products, with $431 million flowing into multi-asset funds since June.

Butterfill noted that these products have gained popularity among investors who favor a diversified approach, representing roughly 10% of assets under management (AUM) at global crypto fund managers.

Furthermore, regarding region, the largest negative flows were concentrated in funds based in the US, Germany, and Hong Kong, which lost $209 million, $8.3 million, and $7.3 million, respectively.

However, these losses were partly offset by net inflows into products based in Canada and Switzerland, which saw inflows of $43 million and $34.9 million.

The Real Reason Behind The Outflows?

Notably, the change in market sentiment, which resulted in millions of outflows, has been linked to stronger-than-expected economic data. James Butterfill, attributing the market reversal to this unexpected economic data, wrote in the report:

Higher than expected economic data last week, reducing the probabilities for significant rate cuts are the likely reason for the weaker sentiment amongst investors.

Butterfill added alongside these broader economic developments, noting:

Trading volumes were up marginally by 15% to US$10 for the week in ETP investment products, while we have seen lower volumes in broader crypto markets.

Featured image created with DALL-E, Chart from TradingView

This week, the crypto market is brimming with critical events—from a revealing Bitcoin documentary and a pivotal moment in the FTX withdrawal process to a major network upgrade and key macroeconomic data releases. Here’s what should be on your radar this week.

#1 Bitcoin (BTC): HBO Documentary Claims To Unmask Satoshi Nakamoto

On October 8, 2024, HBO will premiere a documentary that claims to answer one of the most hotly debated questions in crypto: the true identity of Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Titled “Money Electric: The Bitcoin Mystery,” the documentary is directed by Cullen Hoback, an Emmy-nominated filmmaker renowned for his investigative series Q: Into the Storm, which unmasked the creators behind the QAnon conspiracy.

In a teaser posted on X , Hoback cryptically alluded to the project: “A few of you might have wondered why I disappeared. Well, I was tracking down someone else who disappeared. Curious who’s behind Bitcoin?” With these words, Hoback has fueled intense speculation within the crypto community.

Polymarket’s betting odds currently place Len Sassaman—a late cryptographer who was deeply embedded in the digital privacy community—as the leading candidate to be Nakamoto, with 36.5% of the bets. However, the Bitcoin community has great doubts that after more than a decade and numerous attempts, the true identity can now be proven beyond doubt.

#2 FTX Token (FTT): Court Hearing

FTX’s implosion continues to ripple through the crypto landscape, and the next chapter unfolds on October 7, 2024, with a pivotal court hearing. This hearing will determine whether FTX’s $16 billion cash distribution plan, part of its Chapter 11 bankruptcy reorganization, can proceed. If approved, it would allow the exchange to begin repaying creditors in stages.

The current schedule indicates that smaller claimants (those with claims below $50,000) could start receiving payouts within 60 days of the plan’s approval, while larger creditors may need to wait until Q1 2025 at the earliest. Subsequent hearings are set for October 22, November 20, and December 12, which will further clarify the distribution process.

The potential for this settlement to be approved could have major bullish implications for the broader market. If creditors receive a portion of their funds, they might reinvest them in the crypto market.

#3 Stacks (STX): Nakamoto Upgrade Announcement

The Stacks (STX) network, which enables smart contracts and decentralized applications (dApps) on Bitcoin, is gearing up for a major upgrade known as the “Nakamoto Upgrade.” Muneeb Ali, co-creator of Stacks, confirmed on X that the final hard fork date for the upgrade will be announced on October 10, 2024.

3 days ago, on Friday, Ali confirmed “Updates on nakamoto activation: Core devs performed a successful hard fork on testnet last week. Today the stacks-core software release candidate 2 (rc2) shipped. Core devs will use this rc2 to do another testnet hard fork early next week. They’ll pick the adjusted/final hard fork block after testnet hard fork with rc2. We’re so close! buckle up and stay tuned.”

This upgrade introduces significant improvements, including the launch of sBTC, a protocol that enables users to lock Bitcoin (BTC) on the Bitcoin network and mint a corresponding amount of sBTC on Stacks. This would allow BTC to be used within Stacks-based smart contracts and dApps, significantly expanding the utility of both networks.

Additionally, enhancements to the Proof of Transfer (PoX) mechanism aim to increase decentralization and efficiency. The Stacks network will also see improvements in scalability, with reduced transaction latency and increased throughput.

#4 Macro Events Impacting Crypto: FOMC Minutes And US CPI Data

Macroeconomic factors are also expected to play a critical role in shaping the crypto market’s direction this week. On October 9, 2024, the Federal Open Market Committee (FOMC) will release minutes from its most recent meeting. These minutes will offer valuable insights into the Federal Reserve’s stance on future interest rate adjustments, which have a direct impact on risk assets, including Bitcoin and cryptocurrencies.

Fed Chair Jerome Powell has previously indicated that the central bank plans to implement two more rate cuts before the end of the year, reducing rates by a total of 50 basis points if economic conditions align with their projections. However, Powell also left room for flexibility, suggesting that faster cuts could occur if the economy deteriorates.

Adding to this, the US Consumer Price Index (CPI) data for September is set to be released on October 10, 2024. Inflation had cooled to its lowest point since February 2021 by August, following the Fed’s aggressive monetary tightening. Analysts believe that a softer-than-expected CPI print could reignite market speculation about further rate cuts, potentially driving risk-on behavior, which would be beneficial for crypto prices. However, initial jobless claims data, released the same day, will also be crucial in assessing the US economy’s strength.

At press time, BTC traded at $62,943.

Doggy-themed meme coin, Shiba Inu (SHIB) could be on the verge of a major market downturn as recent data reveals a major crash in the cryptocurrency’s whale transaction volume. This sharp decline in whale activity could have far-reaching implications for its price outlook, hinting at a possible decline.

Shiba Inu Whale Transaction Plunge To Shocking Lows

New data from IntoTheBlock has disclosed a significant drop in large volume Shiba Inu transfers, typically made by “Whales,” individuals known for executing large-scale crypto transactions. On October 1, Shiba Inu’s large transaction volume surged to 8.27 trillion, reflecting a positive increase in investors’ sentiment towards the meme coin. 

Currently, these transactions have crashed to shocking lows of around 1.39 trillion, marking a massive 83.2% decline. In USD terms, IntoTheBlock shows that large transaction volumes increased to $135.84 million but have declined to $25.2 million. The decrease in this Shiba Inu metric suggests a possible shift in investors’ confidence from earlier last month, when the price of Shiba Inu had increased to about $0.00002. 

SHIB is currently losing momentum compared to other meme coins like Dogecoin, as whales are showing less interest in engaging in trading and transactions. According to IntoTheBlock’s data, whale activity has seen a steady decline, with large transaction volumes dropping from 5.55 trillion on October 2, to 2.62 trillion on October 3, and then 1.6 trillion on October 6. This means that in just a week, transactions have fallen by an astonishing 6.88 trillion. 

Considering the influence whales have on the price of a cryptocurrency, this unprecedented decrease in large transaction volume could have adverse effects on the price of Shiba Inu. While the meme-based cryptocurrency has witnessed a recent price increase of about 6.94% in the last 24 hours, Shiba Inu has also fallen by 1.43% over the past week. As of writing, the cryptocurrency is also trading at $0.000018, according to CoinMarketCap. 

SHIB Price Decline Signals Potential Buying Opportunity

As Shiba Inu faces market volatility and experiences a decline in whale transactions, an outspoken Shiba Inu supporter identified as ‘SHIB Bezos’ on X (formerly Twitter) continues to express confidence in the meme coin’s future outlook. 

The SHIB supporter has stated that SHIB could eventually enter an oversold territory, where its price would decline lower than its actual value. Following this, he predicts that Shiba Inu may make a strong comeback, rebounding strongly after the selling pressures desist. 

Considering the meme coin’s potential for a rebound, SHIB Bezos has stated that any pullback in Shiba Inu’s price presents an opportunity to buy the meme coin at a discount. He has also recommended investors hold onto their SHIB tokens for at least 5 to 10 years, anticipating potential growth over time. 

Bitcoin is a deflationary asset with a fixed supply, unlike Ethereum, whose supply increases or decreases yearly depending on network use. There will be only 21 million BTC in circulation, and a decent portion, exceeding 4 million, is irrecoverable.

Fewer And Fewer Holders Willing To Sell Bitcoin

Now, recent data shows that fewer and fewer people are willing to part with their BTC. According to on-chain data from the Bitcoin long—and short-term holder supply cycles, less than 10% of holders were eager to sell as of October 2024. This percentage is much lower than the 26% of around mid-2021 and the 64% in 2013.

Interestingly, this trend shows that long-term holders, those who bought their coins over six months ago, and short-term holders, or those who bought their BTC in less than 155 days, are willing to let go of their coins. This position is even though Bitcoin, like any other crypto asset, is volatile, posting sharp price gains or dumps over time.

 

To put this position in perspective, Bitcoin is down 15% from its all-time high of March 2024. However, it is also up nearly 150% year-to-date after rising from around $27,000 in October 2023. 2022 Bitcoin prices plunged to below $16,000 after soaring to nearly $70,000 in November 2021.

The cyclic nature of Bitcoin isn’t, looking at hard data, dissuading traders who sell whenever prices dump, for example. This shift in trend over the years shows that more holders are positive about the coin’s long-term potential and even as a store of value.

Traders Playing Don’t Want To Dump, Institutions Loading Up

There could be multiple factors behind this trend, but among the top is the engagement from institutions, especially after approving the first spot of Bitcoin ETFs in the United States early this year.  

According to Soso Value, spot Bitcoin ETF issuers in the United States manage over $57 billion of BTC. BlackRock controls more than $21.5 billion of user assets, while Grayscale, which is unwinding its GBTC, has seen over $20 billion in outflows since the launch of the derivative product in January.

Meanwhile, Adam Buck, the CEO of Blockstream, observes that there are no options–both call and put–that are longer than a year. The CEO adds that this is because most options traders are unwilling to sell their calls since, if they do, most of them will be bought in a flash.

Some investors have perfected the skill of early identifying tokens that can enjoy a massive price surge in every market cycle. This is the case of the Dogecoin millionaire who invested in the meme coin long before it enjoyed its 26,000% price gain in just a year. This Dogecoin millionaire has bet that the crypto token ETFSwap (ETFS), currently selling at $0.03846, will be the next runner.

ETFSwap (ETFS) Will Surge By 3,555% In 24 Days

The Dogecoin millionaire has asserted that ETFSwap (ETFS) will surge by 3,555% in just 24 days, rising to $1.3 from its current price of $0.03846. This Dogecoin millionaire is confident that this price surge will happen as soon as the crypto token gets listed following the completion of its ongoing presale.

The Dogecoin millionaire cited the imminent launch of the ETFSwap platform as one of the factors that could spark this price surge. Investors are set to experience the amazing offerings in the crypto token’s ecosystem, which could lead to a massive demand for ETFS. According to the ETFSwap team, investors will be able to get a glimpse of the tokenized exchange-traded funds (ETFs) on the decentralized investment platform.

The trading platform will tokenize funds like the Spot Bitcoin and Ethereum ETFs, enabling them to be traded on-chain. Investors will have the opportunity to trade these assets alongside cryptocurrencies as the team is collaborating with MiCA-regulated investment banks to offer both securities and crypto trading.

Users will be able to invest in these assets using the ETFSwap (ETFS) token. They only need to convert the crypto token to their desired asset. The crypto token also bridges traditional finance (TradFi) and the DeFi world as investors can convert their crypto holdings to ETFS and vice versa using ETFS.

The ETFSwap platform simplifies how users invest as they no longer have to go through overwhelming processes while using centralized trading platforms. The decentralized trading platform has no Know-Your-Customer (KYC) requirements, meaning investors can start investing quickly.

Unlike centralized trading platforms, ETFSwap (ETFS) offers 24/7 market coverage, allowing users to buy, sell, and trade their assets anytime. This will enable investors to benefit from the market gains recorded after traditional trading hours. The platform’s market-making services mean users can rest assured that their trades will be settled instantly and with minimal slippage.

Investors will also have the opportunity to make passive income from their investments. For instance, they can stake their ETFs and earn juicy staking rewards. The staking feature also extends to crypto tokens on the platform. Users can stake the ETFSwap (ETFS) crypto token and earn up to 87% annual percentage yield (APY).

This staking feature will be integrated into phase 2 of the beta platform, which will go live shortly after phase 1. Phase 2 will also include the liquidity provision feature, which allows users to provide liquidity to the platform’s liquidity pools and make up to 30% of fees from token swaps.

Furthermore, artificial intelligence (AI) powered tools will be featured in phase 2 of the ETFSwap (ETFS) beta platform. These tools, ETF Screener and ETF Tracker, recommend the best ETFs to invest in and perform predictive analysis.

This Dogecoin Millionaire Hasn’t Been Wrong So Far

This Dogecoin millionaire hasn’t been wrong, as he has always placed the right bets. The Dogecoin millionaire’s most profitable bet to date was his $5,000 investment in DOGE, which eventually ran up to millions.

The Dogecoin millionaire already bought $10,000 worth of ETFSwap (ETFS) in its ongoing presale as he looks to make massive returns from the crypto token once it launches. It is worth mentioning that the 3,555% price surge is just the initial price rally for the crypto token, as analysts say that it could rally by over 20,000% in this bull run.

Conclusion

With Whales like this Dogecoin millionaire bidding ETFSwap (ETFS) in its ongoing presale, you can’t afford to miss out on buying the crypto token while it is still selling at a discount. Early investors stand to gain a 35x return on investment once the 3,555% rally happens in just 24 days after ETFSwap’s (ETFS) launch.

Visit ETFSwap Presale

Join The ETFSwap Community

Bitcoin has been navigating a turbulent landscape of volatility and erratic price action since the Federal Reserve announced an interest rate cut 20 days ago. This pivotal moment has left analysts and investors on edge, with many anticipating a significant rally for BTC in the coming weeks. Favorable macroeconomic conditions combined with the approaching halving cycle suggest that substantial gains could be on the horizon.

Critical data from CryptoQuant indicates a potential increase in Bitcoin demand as leverage trading activity reaches new highs. This surge in leverage trading typically signifies heightened interest and participation in the market, suggesting that traders are positioning themselves for a breakout. 

If BTC can successfully breach its current resistance levels, a massive rally could be imminent, energizing the market and drawing even more participants into the fold. 

The interplay of macroeconomic factors and technical indicators creates an intriguing backdrop for BTC’s price action, making it a focal point for traders and investors as they closely monitor the unfolding dynamics in the cryptocurrency landscape. With anticipation building, all eyes are on Bitcoin as it strives to reclaim bullish momentum.

Bitcoin Investors Seeking High-Risk Bets

Bitcoin appears poised for a massive rally, driven by the cyclical nature of its four-year halving and favorable macroeconomic conditions. According to key data from CryptoQuant, the market is gearing up for this potential surge, as evidenced by the rising demand for leveraged trades on exchanges, which indicates a positive trend.

Top crypto analyst Ali recently shared a valuable CryptoQuant chart on X, highlighting that leverage usage across crypto exchanges is reaching new yearly highs.

The estimated leverage ratio for BTC on these exchanges is currently at 0.21, suggesting a significant increase in high-risk bets as more investors engage in leveraged trading. This uptick in leverage usage typically correlates with a heightened demand for Bitcoin, which can increase prices as traders amplify their positions.

However, it’s essential to recognize the risks associated with leveraged trading. While increased leverage can create a positive feedback loop, enhancing upward price momentum, it can also exacerbate losses if the market turns against traders.

If Bitcoin’s price declines, those holding leveraged positions may be forced to sell, leading to a sell-off that could negate any gains from the initial rally.

As Bitcoin navigates this critical juncture, the dynamics of leverage trading could play a pivotal role in shaping its price action. Investors must remain cautious, balancing the potential rewards of a rally against the inherent risks of leveraging their positions. With the halving cycle and rising leverage, Bitcoin’s path forward promises to be both exciting and volatile.

BTC Testing Key Resistance Level

Bitcoin is trading at $62,900 after struggling to reclaim the historically significant daily 200 moving average (MA) at $63,548. This key indicator is crucial for the bulls, as breaking above it would signal a potential shift in momentum and set the stage for a test of the recent highs around $66,000.

However, if BTC fails to surpass the daily 200 MA, the market sentiment may shift negatively. A drop below the psychologically important $60,000 level could trigger a deeper correction, with support levels around $57,500 coming into focus.

The next few days will be critical for Bitcoin’s price action. A successful break above the 200 MA would indicate bullish momentum and reinvigorate investor confidence in the upward trajectory of BTC. Conversely, a failure to reclaim this level could lead to increased selling pressure and a more significant pullback, testing buyers’ resilience in the market.

As traders closely monitor these levels, the coming sessions will reveal whether BTC can regain its bullish footing or face further challenges.

Featured image from Dall-E, chart from TradingView

The Dogecoin price has been consolidating around the $0.1 mark, experiencing notable price fluctuations. Amidst this market volatility, the cryptocurrency displays a unique historical chart pattern that a crypto analyst has deemed bullish. Should Dogecoin continue to stay above this pattern, its price is expected to witness a massive 300X run to new All-Time Highs (ATHs) at $30. 

Dogecoin Price Pre-Rally Stage Signals Potential Pump

Crypto analyst, Trader Tardigrade has revealed a new technical pattern in the Dogecoin price chart, signaling a potential move upwards to new ATHS. The analyst took to X (formerly Twitter) on October 5 to discuss this price pattern, highlighting that Dogecoin is currently trading above the 200-day Simple Moving Average (SMA).  

The 200 SMA is a key technical indicator used in determining the overall long-term market trend of a cryptocurrency. Based on this price pattern, Trader Tardigrade draws a comparison between Dogecoin’s current price action and its historical movements from 2017 to 2020. 

According to the analyst, Dogecoin is mirroring past moves and could see its price experiencing a similar bullish rally from the past. From 2017 to 2019, Dogecoin witnessed a massive price jump before entering a “pre-rally stage” and pumping again between 2021 and 2023. 

Based on Trader Tardigrade’s analysis, Dogecoin has completed another pre-rally stage and is now ready to move higher. The analyst has predicted the cryptocurrency could experience a significant 300X pump to $30, before spiraling down back towards the $6 mark. 

Historical Patterns Point To Another Major Rally

In another recent X post, crypto analyst Ali Martinez disclosed that Dogecoin’s current price behavior resembles a pattern from the past, specifically a multi-year descending triangle pattern formation. 

At the time, Dogecoin broke out of this critical triangle pattern, triggering a price surge of approximately 200%. After this massive surge, the price of the dog-themed meme coin retraced by about 60%, and then entered an even larger bull run. 

Following Dogecoin’s current price movements, the historical descending triangle pattern can be seen, indicating a potential breakout to the upside. Martinez has revealed that the Dogecoin price has already experienced a 65% pullback, as a result, the analyst projects that Dogecoin could be gearing up for its “next big rally. 

Based on Martinez’s Dogecoin price chart, before 2017, the cryptocurrency saw a 229.58% surge, climbing to $0.00035 after breaking out of the crucial descending triangle pattern. Similarly, between 2018 and 2021, the meme coin broke out of the same triangle pattern, resulting in a 138.04% rally, which pushed its price to $0.00318. 

With Dogecoin’s latest descending triangle pattern, which began forming in 2021, and has continued through 2024, Martinez predicts a 207.85% price pump, pushing the meme coin above $0.15.

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