New HBO documentary claims to have uncovered the true identity of Satoshi Nakamoto, the anonymous creator of Bitcoin 🤑

The documentary is set to go live on October 8 🍿

Any guesses?

✅ The bulls fought desperately all day to hold the support level of $60,000, the price only dipped below it a couple of times, but recovered immediately 🤞

Daily Digest:

🔸  A CryptoPunk NFT just sold for a record price of $56.3 million, likely money laundering

🔸 IMF called El Salvador to limit its public sector exposure to Bitcoin 🇸🇻

🔸 Hamster Kombat and Catizen game tokens are down by > 50% after airdrops

🔸 OpenAI has raised $6.6 billion at a $157 billion valuation

🔸 An early Ethereum investor offloaded 19,000 tokens of ETH accrued from the ICO 🔽

🔸 Banks in North America, Europe, and Asia are preparing to participate in trials involving digital assets by SWIFT

🔸 The FTX estate is preparing to auction off approximately 22 million Worldcoin tokens

🔹 Prices:

🥇 Bitcoin - $60,776 (↑0.3%)
✨ Ethereum - $2,350 (↓0.7%)
🧪 S&P 500 - 5,699 (↓0.17%)
🕗 DXY - 101.94 (↑0.26%)
🌉 Gold - 2,655 (↓0.03%)

Imagine the FOMO 😢

CoinGlass data shows that most October BTC gains appear in the latter part of the month, while the first week is generally bearish, meaning current price action remains in line with historical movements 📊

Lekker Capital chief investment officer says this week’s Bitcoin dip shows a “clear invalidation” when compared to previous price stumbles, adding that buying Bitcoin in its current price range of $61,000 is a “no-brainer” 🤔

Yesterday's record $56 million CryptoPunk NFT sale is more likely just an elaborate marketing stunt for a new memecoin, according to an NFT expert 🫥

Kraken announced that it has obtained the BMA license from the Bermuda Monetary Authority to launch a regulated derivatives trading platform 🇧🇲

🔹 Last 24 hours top 3 gainers:

Aerodrome Finance - $1.16 (↑9.86%)
Beam - $0.016 (↑7.25%)
Monero - $146.5 (↑6.27%)

#GM

Yemen's Houthis hit a British oil tanker with a kamikaze drone boat 🛢

They say their disruption of Red Sea trade will continue until there is a Gaza ceasefire 🇵🇸

Oil prices rise due to instability in the region 📈

The total U.S. debt has risen to $35.7 trillion 📈

There was an increase of $345 billion in just 3 days.

So, that's around 27% of Bitcoin market capitalization added the debt in just a few days 😅

S&P 500 had its highest weekly close in history 👀

✅ The stock market is pumping and the crypto market is slowly recovering after bears failed in several attempts to push the BTC price down and consolidate below the $60,000 level 📈

Daily Digest:

🔸 Tether CEO says that Tether is the best friend of the US government because it holds more US treasury securities than Germany

🔸  Tencent and the Guillemot family are in talks to purchase French games publisher and developer Ubisoft

🔸 EigenLayer announced it's investigating the unapproved selling of 1 million EIGEN tokens 🔍

🔸 U.S. labor market added 251,000 jobs in September, blowing past estimates for 140,000

🔸 Lekker Capital chief investment officer says buying Bitcoin right now is a "no-brainer" 💰

🔸 $56 million CryptoPunk NFT sale is just a marketing stunt for a new memecoin, according to an NFT expert

🔸 Kraken has obtained the BMA license in Bermuda to launch a regulated derivatives trading platform

🔹 Prices:

🥇 Bitcoin - $62,054 (↑2.1%)
✨ Ethereum - $2,412 (↑2.8%)
🧪 S&P 500 - 5,751 (↑0.90%)
🕗 DXY - 102.49 (↑0.49%)
🌉 Gold - 2,653 (↓0.10%)

Magic Internet money doesn't feel real. So losing it doesn't seem so bad 😂

What is QE and QT? 📊

Quantitative easing (QE) is when central banks inject money into the economy by buying financial assets like government bonds. This increases liquidity, lowers interest rates, and encourages borrowing and investment, stimulating economic growth and boosting stock markets 📈

Quantitative tightening (QT) is the opposite. Central banks reduce liquidity by selling assets or not reinvesting in them, leading to higher interest rates. This slows borrowing and can cool down markets and inflation 📉

QE can drive asset prices higher, benefiting markets, while QT often puts downward pressure on prices. Both policies impact inflation, interest rates, and overall economic activity.

The Federal Reserve has been doing QT for the last 4 years and only now, along with the start of the rate cut in September, has the Fed started a QE policy, which is very bullish 🐂

#FAQ

Elon Musk makes his first appearance at a Trump rally calling the Republican presidential nominee the only candidate “to preserve democracy in America” 🇺🇸

“As you can see I am not just MAGA — I am Dark MAGA,” he said

After the event, Trump's odds of winning the election rose by 0.8% to 50.8% vs. 48.4% for Kamala Harris 📊

✅ Bitcoin fell in value by 5% over the week amid investor anxiety over the escalating conflict between Israel, Iran, and Lebanon. Still, at the end of the week, the crypto market did recover slightly 😊

Weekly news digest:

💎 Crypto

🔸 Bitwise registered a trust entity in the state of Delaware to launch the ETF based on XRP
 
🔸 The recent $56 million CryptoPunk NFT sale is just a marketing stunt for a new memecoin, according to an NFT expert

🔸 EigenLayer is investigating the unapproved selling of 1 million EIGEN tokens 🤥

🔸 Tether CEO says that Tether is the best friend of the US government because it holds more US treasury securities than Germany

🏦 Crypto exchanges

🔸 Kraken has obtained the BMA license in Bermuda to launch a regulated derivatives trading platform
 
🔸 The FTX estate is preparing to auction off approximately 22 million Worldcoin tokens 🎎
 
🔸 Bithumb CEX announced that it is considering listing on the Nasdaq in the US

🔸 Robinhood is now offering crypto transfers in and out of its app to customers in the European Union

💵 Finances and Economy

🔸 U.S. labor market added 251,000 jobs in September, blowing past estimates for 140,000
 
🔸 IMF called El Salvador to limit its public sector exposure to Bitcoin

🔸 OpenAI has raised $6.6 billion at a $157 billion valuation 🤖
 
🔸 Banks in North America, Europe, and Asia are preparing to participate in trials involving digital assets by SWIFT

🔸  SoftBank will invest $500 million in OpenAI's latest funding round

⚖️ Law and Order

🔸 SEC files appeal against district court verdict, Ripple case continues

🔸 SEC chief enforcer, Gurbir Grewal, will step down on Oct. 11
 
🔸 The Australian Federal Police has seized $6.4 million in crypto targeting an encrypted communication app Ghost

🗣 Personalities

🔸 Lekker Capital chief investment officer says buying Bitcoin right now is a "no-brainer"

🔸 Elon Musk makes his first appearance at a Trump rally

🚀 Best performers of the week:

Popcat - $1.38 (↑36.6%)
Mantra - $1.36 (↑11.5%)
Wormhole - $0.3404 (↑7.8%)

China's stock market is up 25% thinmonth after the government launched a stimulus blitz. Goldman Sachs believes that if China does not do QE now, the current market rally will crash and burn and the economy will crater 😨

Today marks the 10-year anniversary of Tether, the USDT issuer. The company has announced a documentary about itself 🪀

On-chain sleuth ZachXBT has accused Ansem of pumping and dumping hundreds of meme coins with low market value among his 507k X followers 🔍

Japanese investment adviser Metaplanet has purchased another 1 billion yen ($6.7 million) worth of Bitcoin, pushing its holding to 639.5 BTC 🤑

🔹 Last 24 hours top 3 gainers:

dogwifhat - $2.62 (↑16.35%)
Sui - $1.95 (↑13.48%)
Popcat - $1.43 (↑11.41%)

#GM

Bitcoin is back above $64,000, Ethereum is up 2.8% back above $2,500 📈

The bulls have successfully defended the $60,000 level and seem ready for a rematch 🤔

Top 7 token unlocks for this week 🔒

The total value of tokens unlocked this week will exceed $267 million, Aptos is leading the herd of VCs getting ready to fix their profits 👇

• Aptos (APT) — $97.51M
• Circular Protocol (CIRC) — $91.91M
• Neon Labs (NEON) — $19.14M
• Delysium (AGI) — $17.50M
• Conflux (CFX) — $16.68M
• Moca (MOCA) — $15.73M
• Worldcoin (WLD) — $9.73M

#unlocks

✅ The sudden pumping of the bitcoin price above $64,000 did not last long and by the evening the price corrected back to $63,000 amid fears of a retaliatory strike by Israel against Iran ⚠️

Daily Digest: 

🔸 Judge approves FTX bankruptcy plan to repay crypto customers in cash with interest

🔸 Tether company has announced a documentary about itself

🔸 On-chain sleuth ZachXBT has accused Ansem of pumping and dumping hundreds of meme coins 🫵

🔸 Japanese investment adviser Metaplanet has purchased another $6.7 million worth of Bitcoin

🔸 Bitget promised that it would fully compensate traders of its BGB token after it flash crashed

🔸 Robinhood Chief Legal Officer has emerged as a top choice to run the SEC should Trump become President

🔸 The new Ethereum improvement proposal EIP-7781, would increase throughput by 50% 🤑

🔹 Prices:

🥇 Bitcoin - $63,111 (↑0.9%)
✨ Ethereum - $2,448 (↑0.8%)
🧪 S&P 500 - 5,695 (↓0.98%)
🕗 DXY - 102.49 (↓0.03%)
🌉 Gold - 2,643 (↓0.04%)

Join our chat 💬

What it feels like to roundtrip profits from the pump 😅

Yesterday's pump was fully retraced. The market is trading in a very narrow channel, and many meme coins have started to drop in price, after a week of outperformance

Binance announced that Scroll token $SCR will be launching on Binance Launchpool with pre-market starting October 11. Airdrop soon? 😡

Residents of the small city in Texas, have filed a lawsuit against crypto miner Marathon Digital, claiming its mining site near the city is "unbearably loud" ⛏

A user paid a fee of 288 ETH($700K) in a single transaction on the Ethereum mainnet. Why? That's the problem, nobody knows 😐

The U.S. Supreme Court declined to hear a case concerning the ownership of Bitcoin seized from the dark web marketplace Silk Road, paving the way for the U.S. gov to sell the $4.38 billion stash of BTC in question ⚖️

🔹 Last 24 hours top 3 gainers:

Aptos - $9.22 (↑6.92%)
Fantom - $0.685 (↑4.78%)
Sei - $0.458 (↑5.38%)

#GM

What Is Market Liquidity? 💧

Market liquidity is about how quickly and easily you can buy or sell a crypto asset without causing a big change in its price. When a market is liquid, there's plenty of activity, so you can trade your tokens fast and at fair prices 🕯

In a market with high liquidity, you get more accurate pricing. This means less risk of slippage, which is the difference between the expected price of a trade and the price at which it happens.

💁‍♀️ Low liquidity can be risky. Imagine that you are holding $5 million worth of a memecoin (POPCAT in the example on the screenshot above), but the total liquidity for that coin is only $1.7 million.

If you try to sell all your tokens, you won't get the full $5 million USDT because your sell order will crash the price.

❗️ Always check the liquidity. On some DEXs or obscure trading pairs on CEXs, low liquidity can make trading a nightmare and cost you big time!

#FAQ