Peter Todd, a Bitcoin Core developer, has strongly refuted recent claims made by an HBO documentary that identified him as Satoshi Nakamoto, the mysterious founder of Bitcoin. In the meantime, Bitcoin's price has dipped below $62K, leading to concerns about the stability of the market. According to reports, Bitcoin short-term holders are likely to be tested if the price falls below $61.6K. Regardless of the present volatility, JPMorgan forecasts a potential market upheaval worth $7.5 Trillion, inspired by Donald Trump and the Federal Reserve. The market also witnessed large-scale trading activity outside the range of $53k-$87k.
Babylon, a Bitcoin staking protocol, has attracted approximately 24,000 BTC in deposits. Despite the volatility,
MicroStrategy has reached a six-month high as Bitcoin grapples with the Key Moving Average. In other news, Coinbase has commenced operations for Bitcoin Taproot transfers. Anticipation in the market suggests big movements for Bitcoin with the turn of the month, potentially fuelled by record stablecoin liquidity and a spike in transactions. Completely contradicting the HBO's claim, an analyst from Bloomberg anticipates Bitcoin ETF options to emerge by Q1 2025. Looking at the broader cryptomarket, Bitcoin's positioning remains crucial for achieving maximum returns in this volatile climate. The present state of the
crypto market remains mixed, with significant Bitcoin movements being observed including a large amount of Bitcoin re-entering the market and triggering the on-chain volume to reach a 7-month high of $37.4 billion. However, the return from short-term holding remains the least beneficial way of Bitcoin investing.
BTC News Analytics from Thu, 03 Oct 2024 10:15:06 GMT to Wed, 09 Oct 2024 20:30:27 GMT -
Rating -3
- Innovation 0
- Information 5
- Rumor 3
