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Guess what day it is? Humpday! Folks, we thought October was bad for hacks, they continue into November as another big hack has occurred and this time for the largest derivatives platform Deribit! Right on the heels of that, it appears the Lightning Network experienced a critical bug that was immediately fixed. However, MicroStrategy remains focused on Bitcoin - buying and HODLing.

Meanwhile, ahead of the FOMC announcement Bitcoin is still trading under the 20 day SMA on the 4 hour chart with higher volume. Metrics indicate $20K $BTC is extraordinarily cheap and the bulls are defending $20K with a possible short squeeze coming if the fed does anything but a 100 basis point raise; Bitcoin could be decoupling from stocks. 

Podcast of the Day: BTC102: Bitcoin Lightning Network Changing the Energy Sector w/ Austin Mitchell (Bitcoin Fundamentals)

READ

JUST IN

• Fed Announces 75-Basis Point Rate Hike as Markets Reacts Negatively (TB | Blockworks | Cointelegraph | BIC)
• Union Bank of the Philippines launches Bitcoin and Ethereum trading (Cointelegraph)

TRENDING

• Deribit Hot Wallet Hacked For $28 Million In Bitcoin And Ether (EWN | BIC | Cryptoglobe | Cointelegraph | UToday | Coindesk | ZyCrypto | TDH)
• MicroStrategy (Nasdaq: MSTR) CEO: ‘We Seek To Acquire and Hold Bitcoin for the Long-Term’ (Cryptoglobe | Cointelegraph | Blockworks | Bitcoinist)
• Crypto winter ‘only going to get worse,’ blockchain firm CEO says (CNBC | CryptoPotato | UToday | BIC)

     Gaining Traction

• Lightning Network releases emergency update after critical bug on LND nodes (Cointelegraph | Coindesk | TB | BM)

CRYPTO MARKET

• Altcoins lead crypto market decline ahead of FOMC interest rate decision (TB)
• A Quarter of Americans Say Inflation, Economy Woes Sparking Interest in Crypto, Poll Finds (Coindesk)
• Nearly 100% of Institutional Investors Say One Crypto Use Case Will Revolutionize Asset Management: BNY Mellon (TDH)
• Research report outlines why the crypto market might be on the verge of a reversal (Cointelegraph)
• Hong Kong Wants to Be a Crypto Hub Again (Coindesk)
• Crypto Bottom In? Top Technical Analysts Have Their Say (BIC)

BITCOIN

• $BTC: Startup Synonym Launches Possibly World’s Coolest And Most Powerful Bitcoin Wallet (Cryptoglobe)
• McDonald’s, pizza and coffee paid in Bitcoin: The Plan B for crypto payments (Cointelegraph)
• Leading Australian Bitcoin and Ethereum ETFs facing delisting as bear market takes toll (Finbold | BIC)
• Bitcoin Bullish Signal: Whales With 1k-10k BTC Have Been Accumulating (NewsBTC)

     Price

• New Bitcoin Yardstick metric says $20K BTC now 'extraordinarily cheap' (Cointelegraph | UToday)
• Bitcoin Price At Risk Of Further Squeeze, BTC Bulls Defend $20,000 (NewsBTC)
• Macro strategist suggests Bitcoin ‘decoupling’ from stocks would allow it to prosper (Finbold)
• Bitcoin price bottom takes shape as ‘old coins’ hit a record 78% of supply (Cointelegraph)
• Bitcoin bulls aim for a post-FOMC win in Friday’s $640M BTC options expiry (Cointelegraph)

     Lightning Network

• Michael Saylor Explains Why Bitcoin’s Lightning Network Is ‘Very Interesting’ (Cryptoglobe)
• Strike CEO says platform can integrate Bitcoin Lightning payments for Twitter Blue ‘in days’ (Finbold)

     Mining

• Record hash rates may see Big Oil become a major BTC mining player (Cointelegraph | Bitcoinist)
• Bitcoin Miner Stronghold Digital Completes Debt Restructuring (Coindesk)
• Bondholders of Troubled Bitcoin Miner Core Scientific Said to Be Working With Lawyers: Report (Coindesk)
• Bitcoin Miner Argo Blockchain Loses More Wall Street Bulls After Financial Woes (Coindesk)
• Bitcoin mining firm Iris Energy on verge of $103M loan default by Nov. 8th (Cryptoslate | TB | Bitcoinist)
• Bitcoin mining firm Bitdeer could delay public offering to 2023 (Cointelegraph | Coindesk)

ETHEREUM

• Ethereum Price Eyes Fresh Rally Unless ETH Dips Below This Support (NewsBTC)
• Arbitrum Now Responsible for 62% of All Ethereum Transactions (Blockworks)
• Citi Says Ether May Be Moving Toward a Deflationary Future (Coindesk | Cryptoglobe)

USDC

• FIS Subsidiary Worldpay to Enable USDC Settlements on Polygon (Coindesk)
• Singapore Grants Stablecoin Issuer Circle In-Principle License to Offer Payment Products (Coindesk)

CARDANO

• Cardano Moves From ‘Ghost Chain’ to Industry Leader As NFT Volume Skyrockets Amid Bullish ADA Motion (ZyCrypto)

DOGE

• Ancient Dogecoin Address with 2.3 Million of Very First DOGE Activated After 9 Years (UToday)
• Elon Musk Hints at Dogecoin Payments on Twitter, Again (BIC | Cointelegraph)
• Dogecoin Holders to Get New Reward Points from Binance (UToday)
• Revolut Introduces Crypto Card, Customers To Get Cashback In Dogecoin (Bitcoinist | Finbold)
• The Distressing Inevitability of the Upcoming Dogecoin Crash (Blockworks)

LEGISLATION/REGULATION

• Crypto Influencers Could Face Market Manipulation Charges Under MiCA (BIC | Cointelegraph)

LEGAL BATTLES

• Bankruptcy Judge Denies Celsius’ Motion to Pay Employees $3M in Retention Bonuses – At Least Temporarily (Coindesk)

ATTACKS/HACKS/SCAMS

• Solend exploited for $1.26 million in oracle attack (TB | Coindesk)
• As Bankruptcy Fears Mount, Creditors Seek Legal Advice on Bitcoin Miner Core Scientific (BIC)
• Lender Generate Capital to Buy Bankrupt Bitcoin Miner Compute North's Stake in 2 Bitcoin Mining Facilities (TB | Coindesk)

WATCH

LISTEN

• BinanceUS CEO is driving a pricing war among crypto exchanges (The Scoop)
• Jeff Park (Bitwise) on Active Management in Crypto (On The Brink)
• Read_669 - Capital Misallocation, Bitcoin Fixes this - Part 1 [Steven Lubka] (Bitcoin Audible)
• Nov 1: Scathing Criticism of the SEC by the SEC Commissioner (Decrypt Daily)
• Did Macro Kill Crypto? with MacroAlf (Bankless)
• #373: The Energy of Nations with John Constable (TFTC)
• Lightning Network and Transacting with Bitcoin at Pacific Bitcoin Conference with Ry Sterling from Ibex - November 1st, 2022 (Bitcoin Cafe)