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Welcome to Thursday Folks! Bitcoin is trading down to $26,734.17. I will continue to update this throughout the day so check back later.
SUMMARY
Yesterday, the Crypto markets lost $40B as Bitcoin price slid to $27K - erasing "Uptober" gains. But, HODLers stashed $BTC worth $1.35B each month, Onchain data show and the economy is refusing to go down. The most covered news was JPMorgan’s Tokenized Collateral Network (TCN) went gone live which is a blockchain-based application that enables JPMorgan clients to utilize tokenized assets as collateral.(4)
Bitcoin extends decline for a fifth day, dropping below $27K to $26.6K. As the morning progresses Bitcoin remains flat despite US CPI number for September being higher than estimated; Ether stable as Jim Cramer pokes bearish calls.(3) The Fed officials lean in favor of a pause in the rate hike cycle, strengthening hopes that the tightening cycle has ended. A similar Fed backdrop in early 2019 saw Bitcoin quadruple to $13,880. Friday is the 13th and Bitcoin has historically performed positively on this dreaded date. Edward Snowden believes Bitcoin ETFs are taming BTC. Bitcoin may lead ‘great reset by going down’, says commodity expert Mike McGlone. Will tomorrow be Bitcoin’s lucky day? Expert discusses odds of BTC ETF approval. Google search volume for Bitcoin returns to 2020 levels.
$XRP shows 6 consecutive days of falling in row. $DOGE daily transactions drop to lowest in 3 months.
USDT Whale activity heating up as exchange deposits rapidly accelerate, according to analytics firm Santiment. Mastercard successfully wraps up CBDC pilot with Reserve Bank of Australia.(2)
Coinbase spot trading volume falls by 52% compared to 2022.(2) Genesis halts withdrawals after court orders to pay $175M to FTX.(3)
Drama in U.S. Congress over Speaker of the House leaves crypto legislation on pause.(2)
Circle admitted by judge as amicus curiae in SEC vs Binance lawsuit. Former Voyager CEO Steve Ehrlich is facing complaints from the Commodity Futures Trading Commission and Federal Trade Commission from his time at defunct Voyager Digital.(5)
Hacker returns 90% of stolen funds to Stars Arena following exploit. Platypus Finance suffers more than $2 million exploit on Avalanche: PeckShield.
WATCH
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Podcast of the Day: Read_770 - The Big Deal with BitVM | Bitcoin Audible & Decrypting Money - A Comprehensive Introduction to Bitcoin | TCC
