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Guess what day it is? Humpday! Folks, more hacks are stealing the spotlight in today's brief, followed by Grayscale continued fight against the SEC for an ETF that is obviously NOT going to get approved. Meanwhile, overseas they are approving ETPs left and right, this time 21Shares bringing the first Spot Bitcoin ETP to the middle east.
As the price of Bitcoin goes, it remains in a quiet place (ping ponging in the same range) ahead of the FOMC minutes; calm before the storm? Technical indicators signal a big move with traders ready to "sell volatility" as Bitcoin exchange inflows skyrocket. Finance expert warns Bitcoin likely to correct to $6K amid extended Crypto winter. That said, it appears the price cycles are weakening and the next bear market will only be a 67% drop.
Podcast of the Day: Bankless - Rejecting Bitcoin Fundamentalism | Dan Held
READ
TRENDING
- Hacker steals over $100 million from Mango Markets (TB | Cointelegraph | NewsBTC | Coindesk | Blockworks | Coindesk | Coindesk | Cointelegraph | Decrypt)
- Grayscale Sues SEC Over $12 Billion Bitcoin Trust-ETF Decision (TB | Coindesk | BIC | EWN | Blockworks | TDH)
- 21Shares Brings First Spot Bitcoin ETP to Middle East on Nasdaq Dubai (Cointelegraph | Blockworks | Coindesk | BIC | BM)
Gaining Traction
- Crypto firm Blockchain.com approved by Singapore’s central bank (TB | Coindesk | Cointelegraph | Blockworks)d
- BNB Smart Chain to hard-fork following $100M exploit (Cointelegraph | Coindesk | TB)
- Senator Warren leads the charge against energy consumption claims on Texas crypto miners (Cointelegraph | TB | Coindesk)
- Coin Center sues Treasury over Tornado Cash sanctions (TB | Bitcoinist | Coindesk)
- Bitcoin Miner Crusoe Energy Buys Fellow Flared-Gas Operator GAM (Coindesk | TB | Cointelegraph)
CRYPTO MARKETS
- Over 60% of people don’t understand crypto, global study reveals (Finbold | Bitcoinist)
- Betterment launches crypto product for customers with custody by Gemini (TB | Coindesk)
- Fed governor in charge of financial oversight warns banks about crypto (TB | Cointelegraph)
- Share of Americans invested in cryptocurrency grows by 125% despite crypto winter (Finbold)
- JPMorgan and Visa Team Up on Blockchains To Make International Payments Easier (BIC)
- Custodia Bank founder Caitlin Long has some strong words about the Fed and BNY Mellon (Cointelegraph)
- S&P Global Executive Predicts Turning Point for Crypto, Says Tokenization of Everything Coming to Financial Markets (TDH)
- Cryptos, Stocks Rally on Hope Fed Will Pivot (Blockworks)
- Bankman-Fried: Rescue market is drying up, and we’re all to blame for its existence (Cointelegraph)
- Google’s Partnership With Coinbase Is ‘Validation’ for the Crypto Industry: Oppenheimer (Coindesk)
- Morgan Stanley Says Crypto Ecosystem Is Becoming Less Decentralized (Coindesk)
- Altcoin Market About To Explode After Long Consolidation Period, Says Crypto Analyst Justin Bennett (TDH)
BITCOIN
Price
- Market Wrap: Bitcoin Remains in a Quiet Place Ahead of FOMC Minutes (Coindesk)
- Bitcoin Plays Ping Pong As Price Continues In A Range, Where Is Price Headed? (NewsBTC)
- Bitcoin (BTC) Price Cycles Weakening – The Next Bear Market Will Only Be a 67% Drop in Price (BIC)
- Bitcoin Technical Indicator Signals Big Moves With Some Traders Getting Ready to 'Sell Volatility' (Coindesk | Finbold)
- Volatility Incoming? Bitcoin Exchange Inflows Skyrocket (CryptoPotato)
- BTC price wobbles on US PPI as Bitcoin futures open interest hits peak (Cointelegraph)
- Bitcoin, Ethereum and XRP Price Prediction: On the Brink of a Steep Correction (BIC)
- US Consumer Price Index for September Could Provide Push for Bitcoin to Break Out of Its Recent Range (Coindesk)
- Bitcoin Clings to $19K as Traders Place Bets Ahead of Key Inflation Data (Coindesk)
Analyst/Traders
- Bitcoin Options Traders, Burned by Last Month’s CPI Report, Now Seek Downside Protection (Coindesk)
- Bitcoin analysts and traders say BTC’s low volatility is ‘a calm before the storm’ (Cointelegraph)
- Crypto Strategist Says New Bitcoin Trend Underway, Predicts Next Rally Will Catch Traders off Guard (TDH)
- Here’s a Realistic Worst Case Scenario for Bitcoin and Crypto, According to Analyst Jason Pizzino (TDH)
- Bitcoin likely to correct to $6,000 amid extended crypto winter, warns finance expert (Finbold)
- Greg Foss says Bitcoin is a hedge against monetary inflation: Bitcoin Amsterdam (Cointelegraph)
- Bitcoin Stakeholders With Over $1,490,000,000 in BTC at High Capitulation Risk, Warns Analytics Firm Glassnode (TDH)
Acceptance
- Tap-to-pay Bitcoin Lightning Bolt cards strike El Salvador (Cointelegraph | BM)
Mining
- Bitcoin Mining Difficulty Adjustment May Force Miners To Dump Their BTC (NewsBTC | Bitcoinist)
ETFs
- Valkyrie to Liquidate Bitcoin Balance Sheet ETF After Limited Uptake (Coindesk | Cointelegraph | Finbold)
Exchanges/ATMs
- River Financial Offers Payment Gateway for Bitcoin’s Multi-Asset Upgrade (Coindesk)
- Bitcoin ATM Installations in Europe Reach All-Time High Despite MiCA Regulations (BIC)
ETHEREUM
- Layer-2 Ethereum Ecosystem Growth Could Pose Future Risks (BIC | Coindesk)
- Crypto analyst believes Ethereum will kick-start ‘one of the biggest bull markets’ in history (Finbold)
- Offchain Labs Acquires Ethereum Consensus Client Prysmatic Labs (Blockworks)
XRP
- XRP Can Now Be Easily Bought in Europe Straight from Bank Account, Here's How (UToday)
- Pivotal XRP Indicators Are About to Cross: Crypto Market Review, October 11 (UToday)
- Ripple Gains Another Edge Over SEC, Wins Judges’ Support (UToday)
- Ripple's Major Partner in Europe Joins Digital Pound Foundation: Details (UToday | Bitconist)
- Ripple (XRP) Struggles As Bearish Divergence Emerges, Eyes $0.42 Support (NewsBTC)
CARDANO
- Cardano (ADA) Falls Below $0.4, Is It Time To Buy? (Bitcoinist)
SOLANA
- Solana (SOL): the ‘Bright Spark’ That Keeps Flickering (BIC)
DOGECOIN
- Elon Musk Back To Promoting Doge as a Payment Method for New Cologne (BIC)
LEGISLATION/REGULATION
- Former U.S. bank regulator says Biden officials 'overtly hostile to crypto' (TB)
- US Acting Comptroller urges not to rush with the crypto regulation (Cointelegraph)
- Could a New Crypto Tax Regulatory Framework in India Become the Global Standard? (BIC)
- UK regulator FCA pushes line that crypto investors must be 'prepared to lose all their money' (TB)
- Sam Bankman-Fried: Stablecoins Are ‘Lowest-hanging Fruit’ for Crypto Regulation (Blockworks)
- Regulators Are Targeting Stablecoins Due to ‘Crazy Product Market Fit’: Compound’s Robert Leshner (Decrypt)
- SEC's Hester Peirce voices support for new crypto laws in Congress citing agency focus on enforcement (TB)
- Key US Lawmaker Says Talks Continue Over ‘Ugly Baby’ Bill to Oversee Stablecoins (Coindesk | TB | Cointelegraph)
- Regulators Should Use 'Range of Options' in Fintech, Fed's Barr Says (Coindesk)
- Kazakhstan Legislature Pushes New Crypto Rules Forward: Report (Coindesk)
- Senior House Republican: Biden administration holding up stablecoin bill (TB)
LEGAL BATTLES
- Celsius examiner files preliminary work plan for upcoming investigation (TB | Blockworks)
- Core Scientific wants Celsius to pay its mining bills amid bankruptcy process (TB | Coindesk)
- Ripple vs. SEC — XRP Eyes Monster Rally As Judge Approves Two Firms To Step In (ZyCrypto)
ATTACKS/HACKS/SCAMS
- Hackers Use Fake Solana Phantom Updates to Steal Crypto (Report) (CryptoPotato)
- DeFi Protocol Temple DAO Struck by $2.3M Exploit (Coindesk | TDH)
- The Bug That Took Down Wintermute Is Still at Large (Blockworks)
- BNB Chain Upgrade Restores Cross-Chain Transfers Following Binance Bridge Hack (Decrypt)
WATCH
LISTEN
- TFTC: #365: Luxor Mining and Bitcoin Hashrate Derivatives with Matt Williams
- Bitcoin Fundamentals: BTC099: Michael Saylor's Deep Dive on Bitcoin Energy Misconceptions (Bitcoin Podcast)
- The Wolf Of All Streets: Why S&P Global Is Betting On Crypto | Charles Jansen, Head of DeFi Transformation And Chuck Mounts, Chief DeFi Officer
- Untold Stories: Why Yield is Crypto’s Killer App with Derek Barrera
