S&P 500 is down 1.86% today 📉

$953 billion was wiped out from the US stock market in the last 24 hours 😱

✅ Today, Bitcoin’s foundational document, the white paper written by its creator, Satoshi Nakamoto, has turned 16. This, sadly, doesn't help to push the price above ATH and BTC dipped back to $70k 📉

Daily Digest:

🔸 State Florida CFO says state holds about $800 million in "crypto-related" investments

🔸 Stablecoin issuer Tether posted $2.5 billion in profits in the third quarter of 2024 

🔸 Binance partnered with Amazon Web Services to use Amazon AI for KYC verification 🤝

🔸 Robinhood (HOOD) shares slumped more than 13% after earnings miss

🔸 Trump is flirting with the idea of making crypto tax-free

🔸 Bitcoin and Gold both will win if Trump wins the election, says JP Morgan

🔸 Kraken crypto exchange announced the layoff of 15% of its workers

🔸 Binance founder CZ appeared at the Binance Blockchain Week, his first public event after jail 🕐

🔹 Prices:

🥇 Bitcoin - $70,387 (↓2.8%)
✨ Ethereum - $2,521 (↓5.2%)
🧪 S&P 500 - 5,705 (↓1.86%)
🕗 DXY - 103.90 (↓0.09%)
🌉 Gold - 2,746 (↑0.10%)

BTC holder VS ETH holder this year 😂

Zircuit announced fairdrop for EigenLayer token holders and stakers 🪂

If you held or staked more than 3 $EIGEN tokens on your wallet before the snapshot date of October 8 you are eligible for 749 $ZRC tokens.

ZRC is not yet tradable, but using the premarket price, 749 tokens equals about $60 💰

One EIGEN token is worth $2.75, so by holding just $8.25 in your crypto wallet, you could get a free $60 in ZRC tokens 👍

Another day of easy money in crypto

How do you know if the market is cooked? 📊

Rank of the Coinbase crypto exchange app in the Apple App Store is is a handy metric to monitor retail interest in crypto. A higher rank means more everyday investors are getting involved in crypto 🏃‍♂️

Back in March, Coinbase was ranked top 49 in the App Store when BTC price was the same as it is now. Today, Coinbase is around 354th place. This suggests that retail investors were more active months ago than they are today.

🕯 Despite the lower retail participation, Bitcoin's price remains strong. This means that institutional investors or large players are driving the market through spot BTC ETFs. It's bullish when prices hold or rise without heavy retail involvement 🔍

When Coinbase's app ranking shoots up it can indicate growing market bubble and as a result, upcoming corrections. A lower rank shows that people are disappointed with crypto, a common sight during bear markets.

Track popularity of the Coinbase app here 🌀

#FAQ

📉 US Job Growth Drops Sharply in October

The U.S. added just 12,000 jobs in October, far below the expected 100,000 and down from September's revised 223,000.

Unemployment stayed at 4.1%, while average wages rose 0.3% from last month, up 4% over the year 📊

This weak job growth may increase the chance of a 0.5% interest rate cut from the Federal Reserve, instead of the expected 0.25% cut, as they consider ways to support the economy with some new "cheap money" 😇

Top 5 AI x Crypto Altcoins 🤖

Large institutions are launching funds dedicated to AI investments as this industry is leading tech stock growth this year ↗️

There are so many crypto projects related to artificial intelligence technology. In today's video, we'll dive into the top five of them 👇

https://youtu.be/EMhZvpONv2s

✅ Bitcoin prices dropped to $69k in the last 24 hours triggering $250 million in liquidations 📉

Daily Digest:

🔸 Zircuit announced fairdrop for EigenLayer token holders and stakers

🔸 UBS Asset Management launched the first money fund on the Ethereum blockchain 🤑

🔸 The U.S. added just 12,000 jobs in October, well shy of economist forecasts for 113,000

🔸 Tornado Cash co-founder won’t stand trial for money laundering and sanctions violation charges until April 2025.

🔸 $1.7 billion asset management firm Strive will begin offering Bitcoin under a new wealth management business 💰

🔸 Immutable (IMX) disclosed that it received a letter from the U.S. SEC threatening potential enforcement action ahead.

🔸 The U.S. Department of Justice has indicted the founder and CEO of crypto Gotbit

🔹 Prices:

🥇 Bitcoin - $69,473 (↓1.2%)
✨ Ethereum - $2,515 (↑0.1%)
🧪 S&P 500 - 5,728 (↑0.41%)
🕗 DXY - 104.32 (↑0.33%)
🌉 Gold - 2,736 (↓0.28%)

What it feels like to be a newcomer to crypto 😅

Carpenter made $415 million on Tesla, then lost it all 😐

Christopher DeVocht, a humble carpenter from Vancouver Island, turned an $88,000 portfolio into a $415 million fortune when he went on what has to be one of the hottest hot streaks in the history of financial markets by betting big on Tesla stock options in 2019 🔼

DeVocht claims his advisers at RBC Dominion Securities encouraged him to keep everything in Tesla, applauding his “extraordinary wealth” while failing to warn him of the risks. When Tesla’s stock crashed in 2022, his entire fortune evaporated almost overnight.

Now, he’s suing RBC and Grant Thornton, accusing them of reckless advice that led to his financial ruin ⚖️

Imagine, having hundreds of millions and then losing it all in less than a day 😬

What was the scariest thing that happened on Halloween? 🎃

Hint: It had to do with U.S. fiscal policy

In just one day on Halloween, the U.S. national debt increased by $100,000,000,000 💵

The U.S. government will pay interest on every dollar of that debt at the expense of Americans 😭

Just noticed an interesting pattern: on the first days of every month for the last half year Bitcoin has been falling 😲

Wonder what this pattern could be related to?

A genius market strategy, sell on the 29th of every month and buy back on the 7th of the next month 😄

Donald Trump: "Bitcoin is not threatening the dollar, the behavior of the current US government is really threatening the dollar" 💵

✅ This week we almost reached the old ATH price of Bitcoin, but the bulls failed to push high enough and the market dumped and is now testing the $68k support level 📉

Weekly news digest:

💎 Crypto

🔸 MicroStrategy plans to raise $42B to buy more Bitcoin over the next 3 years

🔸 State Florida CFO says state holds about $800 million in "crypto-related" investments
 
🔸 UBS Asset Management launched the first money fund on the Ethereum blockchain

🔸 Zircuit announced fairdrop for EigenLayer token holders and stakers 🪂
 
🔸 The Trump crypto project World Liberty Financial intends to launch a native stablecoin
 
🏦 Crypto Exchanges
 
🔸 Binance partnered with Amazon Web Services to use Amazon AI for KYC verification

🔸 Crypto exchange Coinbase fell $60 million short of revenue expectations in the third quarter, stock dumps

👋 It was a week of layoffs

🔸 Kraken crypto exchange announced the layoff of 15% of its workers

🔸 Ethereum software company Consensys announced that it has laid off 20% of its global workforce

🔸 dYdx, the company building an on-chain derivatives exchange, fired 35% of its core team

💵 Finances and Economy

🔸 Bitcoin and Gold both will win if Trump wins the election, says JP Morgan
 
🔸 The U.S. added just 12,000 jobs in October, well shy of economist forecasts for 113,000

🔸 Stablecoin issuer Tether posted $2.5 billion in profits in the third quarter of 2024 

🔸 Canary Capital officially filed for a spot Solana ETF

🔸 US Treasury says CBDC should replace stablecoins

⚖️ Law and Order

🔸 Russian court fined Google for two and a half decillion dollars 

🔸 Immutable (IMX) disclosed that it received a letter from the U.S. SEC threatening potential enforcement action ahead.

🔸 The U.S. Department of Justice has indicted the founder and CEO of crypto Gotbit

 🗣 Personalities

🔸 Binance founder CZ appeared at the Binance Blockchain Week, his first public event after jail
 
🔸 Florida’s Chief Financial Officer urges state board to evaluate crypto investments for public pension funds
 
🔸 DWF Labs today dismissed one of its partners shortly after sexual harassment, drugging allegations

🚀 Best performers of the week:

MKR - $1,170 (↑6.5%)
SUI - $1.85 (↑5.2%)
DOGE - $0.148 (↑5.1%)

🇪🇺Europe's largest telecommunications provider, Deutsche Telekom, in partnership with the German bank Bankhaus Metzler, is testing the mining of Bitcoin using the excess energy 💸

Bitcoin price predictions amid the upcoming U.S. presidential election 🇺🇸

Analysts at research and brokerage firm Bernstein predict that if Trump wins the presidential election, the price of Bitcoin will soar above $90,000. But if Kamala Harris wins, the market will see correction to $50,000. Bernstein also predicts $200,000 price later in 2025, regardless of the US election result ↗️

Senior analyst at CoinDesk says that Bitcoin is likely to top $100,000 after the U.S. election, if history is any guide.

Top 7 token unlocks for this week 🔒

The total value of tokens unlocked this week will exceed $58 million, not a big sum at all, so everything is good for the alts 😄

• Neon Labs (NEON) — $19.92M
• Conflux (CFX) — $11.58M
• Galxe (GAL) — $9.18M
• XAI Games (XAI) — $6.34M
• Cellana Finance (CELL) — $4.28M
• Sleepless AI (AI) — $3.51M
• Cetus Protocol (CETUS) — $3.32M

#unlocks

Trump talks about Nancy Pelosi's insider trading: "Honestly, she's a disgrace. They should throw her out of Congress" 😄

The election will be held on Tuesday, November 5, results will be announced a bit later as votes counting may take longer time in some states

The media is overflowing with manipulative polls and fake information regarding the probability of victory of this or that candidate 📊

🇺🇸 The most important fight is taking place in the seven swing states that will decide the outcome of the election. At the moment, the probability on prediction market looks like this:

🟥 Trump - 58% chance
🟦 Harris - 42% chance

✅ The American election is upon us and will take place tomorrow. Experts say that if Trump loses it will likely lead to a significant correction in the market, although we should expect high volatility in any case 🕯

Daily Digest:

🔸 Deutsche Telekom is testing the mining of Bitcoin using the excess energy

🔸 Nvidia and Facebook ask for legal immunity from securities fraud prosecution from the U.S. Supreme Court 😐

🔸 Bernstein raises its Bitcoin price estimate for Harris win to $50k, keeps Trump at $90k

🔸 UK pension specialist reported that an “unnamed scheme” had made a 3% allocation of Bitcoin into its pension fund

🔸 Microsoft risks shareholder lawsuit if it ignores Bitcoin ⚖️

🔸 Paxos launched USDG, a Singapore-compliant stablecoin, partnering with DBS Bank

🔹 Prices:

🥇 Bitcoin - $68,085 (↓0.7%)
✨ Ethereum - $2,407 (↓1.6%)
🧪 S&P 500 - 5,712 (↓0.28%)
🕗 DXY - 103.91 (↑0.05%)
🌉 Gold - 2,735 (↓0.03%)

When it's not your first crypto cycle 🤣