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

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

Who is Len Sassaman and why the crypto community says the HBO documentary will name him as Satoshi Nakamoto

Sassaman, who took his own life in 2011 after a battle with depression, is believed to be Satoshi due to his long track record of published academic papers on cryptography that often showcased his strong ideological commitment to privacy and decentralization.

Polymarket punters believe Len Sassaman will be the person featured in the documentary.

Adding to the speculation that Sassaman is Satoshi is the date of their respective disappearances. Sassaman took his own life shortly after Satoshi stopped posting on BTCTalk, once the go-to destination for cryptocurrency discussions. #SatoshiNakamoto #HBODocumentarySatoshiRevealed #WeAreAllSatoshi #BinanceSquareFamily #HotTrends $BTC

HBO Documentary on Bitcoin Creator Satoshi Nakamoto Ignites Intense Debate and Speculation

Reports claim that the documentary has unmasked the elusive identity of Bitcoin’s pseudonymous creator, Satoshi Nakamoto.

HBO released a trailer for the documentary on October 3, revealing snippets of interviews and research with some of Bitcoin’s earliest users, including Blockstream founder Adam Back and JAN3 CEO Samson Mow.

Notably, the trailer does not claim with certainty to have found the answer to “the internet’s greatest mystery,” and many believe the question will remain unanswered.

However, a subsequent report from Politico claimed that the documentary had unmasked Satoshi’s identity.
According to Politico, the documentary identifies Satoshi and could reveal links between the Bitcoin creator and criminal activity. While the documentary has yet to air, Politico's report has fueled intense debate and speculation within the crypto industry.
#SatoshiNakamoto #Bitcoin❗ #BTC☀ #HotTrends #BinanceSquareFamily $BTC

Grayscale Launches Aave Fund

Aave has become one of the largest cryptocurrency lending protocols by total value locked.

Grayscale has started a new fund that offers exposure to Aave’s AAVE token, the asset manager said Thursday, in what has been a series of novel products from the crypto asset manager.

Aave is a decentralized lending platform based on the Ethereum blockchain that offers automated cryptocurrency loans using other tokens it owns as collateral. It also allows users to lend out their cryptocurrencies to earn interest.

While the platform’s native token has a market cap of $2.3 billion — a relatively small figure compared to most well-known tokens — the protocol has become the largest cryptocurrency lending protocol by total value locked (TVL), according to data from DeFiLlama.

“Grayscale Aave Trust offers investors exposure to a protocol with the potential to revolutionize traditional finance,” Grayscale head of product and research Rayhaneh Sharif-Askary said in a statement.

“By leveraging blockchain technology and smart contracts, Aave’s decentralized platform aims to streamline lending and borrowing while removing middlemen and reducing reliance on human judgment,” he said.
#AAVEUSDT⚡️⚡️ #AaveProtocol #GRAYSCALE #BinanceSquareFamily #HotTrands $AAVE

Swift to begin live banking trials of digital asset transactions in 2025

Starting next year, Swift said banks in North America, Europe and Asia will begin live testing of digital asset and currency transactions over its global messaging network, which serves more than 11,500 financial institutions.

Swift has previously experimented with blockchain transactions in test environments.
Next year's test, however, will test an advanced version of its infrastructure capable of orchestrating real-world digital asset and currency transactions across networks for the first time, according to a statement from the company on Thursday.

The live tests will leverage Swift's existing global network and interconnect various digital and traditional currency platforms, providing a single system for banks to transact cross-border with digital and fiat currencies, the firm explained.

The tests are designed to demonstrate how financial institutions can transact interchangeably between existing and emerging assets and currencies using their current connection to Swift. “Global financial institutions will have the ability to use Swift’s global platform to conduct pilot transactions for the settlement of digital assets and currencies,” the firm said.

#swift #HotTrens #BinanceSquareFamily #NeiroOnBinance #BTCReboundsAfterFOMC $BTC

FTX estate set to sell $38M worth of locked Worldcoin tokens at discount

FTX's estate is set to auction off 22.3 million locked Worldcoin tokens, currently valued at around $37.7 million, at a significant discount.
The sale is part of the estate's ongoing effort to recover funds for creditors.

Interested buyers must submit their bids for the WLD token sale by 8 p.m. ET on Wednesday, with those parties being notified on Thursday if their bids are accepted.

The discount on WLD tokens could range from 40% to 75% off WLD's current spot market price, which is trading at around $1.69, two people familiar with the negotiations said.

FTX's estate holds a total of 22.3 million WLD tokens, indicating there will be no further auctions for these tokens.

WLD tokens will be unlocked daily until 2028. Specifically, 20,539 WLD tokens will be unlocked daily from December 1, 2024, to July 24, 2026, and 13,689 WLD tokens will be unlocked daily from July 25, 2026, to July 24, 2028, the two sources added.

One of the three sources, along with a separate fourth source, expressed concerns about the length of the lock-up periods for WLD tokens.

#wldspot #WLD🔥🔥🔥 #wordlcoin #FTX #HotTrends $WLD

Bitwise makes XRP ETF plan official with SEC filing

The asset manager’s S-1 comes a day after it registered a trust entity in the state of Delaware.

Bitwise took a big step toward launching an exchange-traded fund tied to XRP (XRP), the Ripple-associated token that is among the largest cryptocurrencies in the world.

On Wednesday, the asset manager filed an S-1 form with the U.S. Securities and Exchange Commission, a requirement for companies looking to issue a new security and list on a public stock exchange.

“Today we filed an S-1 application for a Bitwise XRP ETP!” Bitwise CEO Hunter Horsley wrote in a post on X. “For over a decade, XRP has been an enduring crypto asset that many investors want exposure to.”
#XRP_ETF #Xrp🔥🔥 #Ripple💰 #XRPPredictions #BinanceSquareFamily $XRP

Franklin Templeton Expands Its Tokenized RWA Money Fund to the Aptos Blockchain

Franklin Templeton, the $1.6 trillion asset management firm, is expanding its OnChain US Government Money Fund (FOBXX) to the Aptos blockchain. This launch marks a significant step for the tokenized real-world asset money fund: it will now be available in non-EVM blockchain environments. The announcement follows FOBXX’s recent expansion to the EVM-compatible Avalanche blockchain.

Launched in 2021, the FOBXX tokenized fund features $420 million in assets under management, with each share in the fund represented by a BENJI token, the native token of the Benji Investments platform, Franklin Templeton’s proprietary blockchain-integrated record-keeping system.

Institutional investors will be able to allocate funds using their cryptocurrency wallets on the platform. They will also be able to maintain their wallets on the Aptos blockchain if they choose.

FOBXX is the first and only US-registered fund to use a public blockchain as a system of record to process transactions and record share ownership.

Bashar Lazaar, Director of Grants and Ecosystem at the Aptos Foundation, said in a statement: “Franklin Templeton’s willingness to innovate on behalf of a truly decentralized and accessible financial future is inspiring. To reach that future, we need to connect not only the TradFi and DeFi worlds, but also EVM and non-EVM networks.”
#APTOS #Aptos #BinanceSquareFamily #HotTrens #moonbix $APT

ETH returns historically lag Bitcoin's in October, but analysts see signs that trend could change

Historically, ETH's average returns have lagged Bitcoin's in October. However, QCP Capital analysts have noted bullish indicators suggesting that many derivatives traders believe ETH has the potential to break its underperformance trend.

"Historically, October is a strong month for Bitcoin, with an average gain of 22.9% over 8 of the past 9 years," QCP Capital analysts noted. "ETH also tends to perform well, but its average return for October is about 5%," they added.

Despite the possibility that the second-largest digital asset could lag Bitcoin this month, there are signs of bullishness for ether in the near term. "We saw a significant amount of October ether call options being bought this morning," QCP Capital said, pointing to derivatives market indicators. Looking at the current market structure, there are now over 63,600 ether call option contracts, with a notional value of $167 million, expiring on Oct. 11. Another 26,200 call option contracts, worth $69 million, expire on Oct. 18, according to data from Deribit.

ETH call options with a strike price of $2,800 expiring on Oct. 11 have seen the highest trading volume over the past 24 hours.
Notably, both the Oct. 11 and Oct. 18 expiries show a significantly lower amount of put options
This disparity indicates bullish sentiment among many traders, who appear to be betting on the price of ETH breaking above the $2,800 mark by the expiry date
The increased demand for these call options reflects growing short-term optimism
#ETH🔥🔥🔥🔥 $ETH

Bitcoin ends historic September with a drop, but breakout might not come before US election

Despite October being a historically strong month for cryptoassets, options traders are expecting further declines in the coming weeks.

Options traders expect a further rally to only come after the US election in November, and are therefore positioning for further weakness in the coming weeks, according to Jake Ostrovskis, crypto OTC market maker at Wintermute.

“With spot trading falling below $65,000, the volatility surface indicates a downside bias through late October and November when the market begins to favor calls over put protection,” Ostrovskis said. “Current positioning suggests support for a post-election rally.”
#BTC☀ #Bitcoin❗ #BTCReboundsAfterFOMC #HotTrens #BinanceSquareFamily $BTC

Bitcoin Drops Back Below $64,000 Following Japan’s Unexpected Prime Ministerial Election, Triggering 5% Drop in Nikkei

Overbought conditions surely played a role in Bitcoin’s plunge on Monday as well.

After a rapid surge of roughly 14% following the US Federal Reserve’s 50 basis point rate cut nearly two weeks ago, conditions seemed ripe for something to trigger a sizable BTC sell-off, and the selection of a new prime minister in Japan over the weekend seemed to be the trigger.

In a surprise election, that country’s ruling party chose Shigeru Ishiba as its next prime minister. Without going too much into the internal politics of Japan’s Liberal Democratic Party, Ishiba is commonly believed to support the Bank of Japan’s plan to return to normalcy in monetary policy — namely higher interest rates. Following his election as prime minister, Ishiba called for a snap election for late October.

Recall that it was the BOJ’s very modest rate hike in late July that caused a violent disconnect in the so-called yen carry trade and subsequently a global panic in financial markets, sending bitcoin down from roughly $70,000 to under $50,000 in the space of a few days.

The sell-off was so nasty that the BOJ had to send a former official to try to calm markets by saying the bank would not raise rates again in 2024.
#BTC☀ #Bitcoin❗ #HotTrens #BinanceSquareFamily #NeiroOnBinance $BTC

#Mango Markets agree to destroy tokens #MNGO in agreement with SEC

Mango DAO, Mango Labs and Blockworks Foundation agreed to settle charges with the U.S. Securities and Exchange Commission on Friday.

The U.S. Securities and Exchange Commission (SEC) settled charges against Mango DAO, Mango Labs LLC and Blockworks Foundation alleging that the MNGO token was an unregistered security and that the latter entities offered unregistered brokerage services.

The entities will destroy their MNGO tokens and ask cryptocurrency exchanges to stop trading them, in addition to paying a total of $700,000 as part of the settlement, which is still subject to court approval, the SEC announced Friday in a press release.

The deal comes just over a month after Mango DAO held an open vote on whether to adopt the settlement offer proposal. The DAO also voted on a settlement proposal with the Commodity Futures Trading Commission (CFTC) earlier this week, which was unanimously approved.

It’s unclear what the future of the project will look like without the token.

The SEC press release noted that Mango DAO and Blockworks Foundation (unrelated to the news and events business) sold $70 million worth of MNGO tokens starting in August 2021.

In a statement, acting head of the SEC’s Cryptography and Cybernetics Unit Jorge Tenreiro said that any entity that offers “securities brokerage functions” must register or otherwise be exempt from registration with the SEC.

"Since the beginning of our cryptocurrency monitoring program, our view has been that the 'DAO' label does not change the reality of who is behind a project, what activities they engage in, or whether their activities should be recorded. Engaging in securities intermediation with the help of automated or open-source software also does not change the nature of those activities."