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Welcome to Thursday Folks! Yesterday, there was good coverage on more countries adopting CBDCs but from the Wholesale perspective for the banks. Today, no news is really trending but it is interesting to see how much Bitcoin is up since inception and that it's outperforming the USD. Many debate if it's a store of value or a safe haven and I continues to believe it is. Bitcoin is trading up at $27,695.40. Let's get on with the lack of news...
SUMMARY
Approximately 50% of crypto users are investing in digital assets to improve their everyday living standards.
Bitcoin is beating inflation better than the U.S. dollar, the Federal Reserve says — unintentionally. Bitcoin sees unprecedented surge in address creations, fueling bullish speculation. However, Bitcoin started the week with an uptick in investor sentiment, but there are three major factors preventing BTC price from recapturing the $30,000 level:
- Macroeconomic forces exert downward pressure on Bitcoin price
- Bitcoin trading metrics show diminished activity for leverage longs
- Investors’ expectation for a spot BTC ETF drops
Pantera Capital Founder Dan Morehead predicts that Bitcoin will more than double every year. Former SEC Chair Jay Clayton on why recent events have made approval of a Spot Bitcoin ETF ‘inevitable.’ Martin Bednall, a former BlackRock executive, said the U.S. SEC will likely approve all spot bitcoin ETF applications at the same time. Bitcoin remains resilient, with Glassnode's Yann Allemann suggesting that a sharp downturn is improbable. Bitcoin miners Marathon, Riot, CleanSpark increase BTC output in September. El Salvador’s first Bitcoin mining pool, Lava Pool, was launched by Volcano Energy and Luxor. Block, co-founded by Twitter CEO Jack Dorsey, is one step closer to launching its Bitcoin hardware wallet, BitKey which aims to provide users full control over their Bitcoin assets with a unique three-key security strategy.
BITCOIN PRICE UP 3.6 BILLION PERCENT SINCE IT WAS FIRST PRICED ABOVE ZERO
Ethereum (ETH) represents an even bigger investment opportunity than Bitcoin (BTC), according to Matt Hougan, the chief investment officer at Bitwise. BNB price is trading within the long-term $210 horizontal support area, bouncing inside it during September 11-18 and the weekly timeframe readings are bearish but the daily timeframe RSI and price action offer hope for a bullish reversal. XRP reaches new horizons after new pro-Ripple decision and XRPL hits historic milestone, potential upsides for XRP.
Central banks will face unfamiliar challenges to achieve CBDC inclusivity, study says.
Binance Will Delist a Whopping 19 Trading Pairs on October 6th.
US crypto legislation could stall amid Republican leadership drama.
FTX exploiter moves $36.8M in Ether as Sam Bankman-Fried’s trial starts. Concordium founder says some level of identity verification needed to prevent crypto scams. Crypto laundered through coin swaps, bridges and DEXs hits $7 billion: Elliptic.
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Podcast of the Day: A Leading Candidate for Next Speaker of the House is One of Crypto's Biggest Allies in D.C. | The Breakdown
THE WEEDS
Crypto Market
- Adoption (Cointelegraph)
Bitcoin
- Vs USD (Cointelegraph)
- Price (Cointelegraph)
- Adoption (ZyCrypto)
- Opinion (Cryptoglobe | Cryptoglobe | TB | UToday | Cryptoglobe)
- Miners (Cointelegraph | TB)
- Wallet (BIC)
Altcoins
- Opinion (TDH)
- BNB (BIC)
- XRP (UToday | UToday)
CBDCs
- Central Banks (Cointelegraph)
Exchanges
- Binance (CryptoPotato)
Legislation/Regulation
- Congress (TB)
Attacks/Hacks/Scams
- FTX (Cointelegraph | CryptoPotato)
- Scam prevention (TB)
- Laundering (TB)
