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Bitcoin News
Medium
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Justice on the Digital Frontier: GCC Litigation Takes Aim at Bkchaintop.com Scammers
- Bkchaintop.com, a cryptocurrency trading platform, is exposed as a scam targeting investors.
- Users faced issues with fund withdrawals and pressure tactics from 'account managers' to invest more.
- GCC Litigation is actively investigating the fraudulent activities and supporting the victims.
- The focus includes educating potential investors and taking legal action against the scam operation.
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Altcoinbuzz
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Philippine Agency Trains Youth in Blockchain and NFT Technology
- The Philippine government agency, DOST-ASTI, organized a tech forum to train young Filipinos in blockchain and NFT technology.
- The forum highlighted the potential of blockchain, cryptocurrencies, and the NFT sector and their impact on the public and private sectors.
- The training focused on various use cases of blockchain, including gaming, tracking goods, voting, and managing intellectual property.
- The initiative aims to provide future job opportunities and empower Filipino youth in emerging technology sectors.
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Altcoinbuzz
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BlackRock Bitcoin ETF requires 12-hour BTC withdrawals
- BlackRock submitted an amendment to its physically-backed Bitcoin ETF, requiring Bitcoin withdrawals to be processed within 12 hours.
- The amendment aims to address concerns about Coinbase potentially trading in 'paper BTC' instead of real Bitcoin held for the ETFs.
- Coinbase CEO, Brian Armstrong, assured investors that all transactions are processed on the blockchain and the Bitcoin for the ETFs is real and accounted for.
- There were concerns that the recent slump in Bitcoin's price could be attributed to Coinbase holding Bitcoin in ways that didn't reflect its market value.
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Altcoinbuzz
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Long-term Ethereum Holder Earns $131.7M in 2 Years.
- A long-term Ethereum holder has earned $131.7 million in profit over a span of two years by choosing to stay patient and hold the cryptocurrency.
- The investor purchased 96,639 ETH from Coinbase during the bear market and later transferred 70,000 ETH, worth $214.34 million, to Kraken as the price of Ether rose.
- Despite the transfer, the investor still holds 26,639 ETH valued at approximately $68.81 million in their original wallet.
- This story demonstrates the value of holding assets in a volatile market and emphasizes the long-term benefits of sticking to a strategic investment approach.
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Newsbtc
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XRP Price Remains in Range: Can It Escape the Consolidation?
- XRP price remains in consolidation above the $0.5785 support.
- The price needs to break the $0.5950 and $0.6050 resistance levels to gain bullish momentum.
- XRP is now trading above $0.590 and the 100-hourly Simple Moving Average.
- If the resistance levels are cleared, the price could reach $0.6120 and even $0.6250 or $0.6320.
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TheNewsCrypto
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Is Bitcoin (BTC) Set for a Bullish Breakout Above $66,500?
- Bitcoin is up 2.04%, trading at $64,420.02, showing bullish momentum.
- Whale transactions and ETF inflows signal long-term confidence.
- Analysts predict Bitcoin could move towards $74,000 in the near term, supported by a bull flag pattern.
- Bitcoin is testing resistance at $66,500, with key support at $63,000 and positive technical indicators.
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6 Likes
Coinpedia
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Bitcoin Bull Run 2024: Anthony Pompliano’s Bold Price Prediction!
- Bitcoin bulls aim for the $64K mark, facing pressure to counteract bearish sentiments.
- Successful break above $64K could lead to a new resistance level of around $68K.
- Anthony Pompliano delivers a bullish outlook on Bitcoin's price trajectory, citing macroeconomic trends and growing acceptance.
- Optimism for a bullish shift in the market referred to as 'Uptober'.
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21 Likes
Coinpedia
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Crypto News Today: What’s Driving Bitcoin and Ethereum Price Rally?
- The total cryptocurrency market cap rallied around 2 percent led by Bitcoin and Ethereum.
- Bitcoin price reached a range high of about $64,750, signaling bullish sentiment.
- Spot Bitcoin ETFs registered a net cash inflow of about $800 million, while Spot Ether ETFs have been bleeding.
- The crypto industry is expected to experience a new era of bullish sentiment in the fourth quarter.
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11 Likes
Bitcoinist
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Bitcoin Miner Relief Ahead: Difficulty To Drop By 5% Next
- The difficulty of Bitcoin mining is set to drop by around 5% in the next network adjustment.
- The slower block time in the Bitcoin blockchain has led to a decrease in difficulty.
- The decrease in difficulty will make it easier for miners to find blocks and increase their revenue.
- The drop in difficulty is necessary to prevent miners from increasing their power indefinitely and causing inflation.
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24 Likes
Cryptonews
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Options for Ethereum ETFs Delayed as Analysts Predict Bitcoin ETF Could Trigger Massive Squeeze
- The US Securities and Exchange Commission (SEC) approves options trading for BlackRock's IBIT, improving liquidity and attracting institutional interest.
- The SEC postpones its decision on Ethereum ETF options, causing a delay in their approval process.
- Analysts predict a potential gamma squeeze for Bitcoin ETFs, similar to the GameStop short squeeze, due to the options approval and increased call option purchases.
- The Bitcoin derivatives market shows growth potential but remains significantly smaller than traditional markets, with the Ethereum options market being three times smaller than Bitcoin's.
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25 Likes
Newsbtc
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BNY Mellon Moves Forward With Bitcoin Custody Services Following SEC Exemption
- BNY Mellon is moving forward with its plans to launch custody services for Bitcoin and Ethereum after receiving an exemption from the SEC's Staff Accounting Bulletin (SAB) 121.
- BNY Mellon is the first bank to receive this exemption, which allows it to avoid treating crypto custody as a balance-sheet liability.
- The bank intends to provide custody services for Bitcoin and Ether held by clients of exchange-traded products (ETPs), and is actively engaging with regulators to scale up these services.
- The crypto custody market is expanding rapidly, with estimated worth of $300 million and growing at 30% annually. BNY Mellon aims to tap into this market by offering comprehensive end-to-end solutions for digital asset custody.
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Crypto-News-Flash
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BTC Surge in 2024 Creates 20,000 New Millionaires—Bitcoin Wealth Soars
- Bitcoin's surge in 2024 has created 20,000 new millionaires.
- The total number of Bitcoin wallets holding at least $1 million has increased to approximately 110,388.
- Bitcoin's price has shown significant growth, starting at $42,300 and reaching $63,591.
- The broader market impact includes an increase in wallets holding at least $100, $1,000, $10,000, and $10 million.
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Bitcoinist
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Expert Analysis: Why Ethereum And Bitcoin ETFs Struggle To Gain Traction In Hong Kong
- Hong Kong launched six virtual asset spot ETFs on April 30, initially attracting significant interest with a combined issuance scale of $248 million.
- However, the subsequent market performance of these ETFs has been less than optimistic, with total assets under management reaching approximately HKD 2 billion (around USD 264 million), compared to the US market's $51.4 billion in assets under management for spot Bitcoin ETFs.
- Market activity for Hong Kong's ETFs has shown signs of decline, with daily trading volumes fluctuating downward and net outflows experienced by Bitcoin and Ethereum ETFs.
- The lack of staking support for the Ethereum ETF and challenges regarding fee structures in Hong Kong may be contributing factors to the underperformance of these ETFs.
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Coin Telegraph
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US representative criticizes Gensler as most ‘destructive’ SEC chair during hearing
- SEC Chair Gary Gensler faced criticism from lawmakers and agency members during a House Financial Services Committee hearing over his handling of crypto regulation in the United States.
- US Representative Tom Emmer referred to Gensler as the most 'destructive' and 'lawless' SEC chair in history.
- Emmer criticized Gensler for creating the term 'crypto asset security' without any statutory basis and for initiating an enforcement crusade against the crypto industry based on this term.
- SEC lawyers recently retracted the term in a court footnote, undermining Gensler's previous use of it.
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Newsbtc
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22
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Bitcoin Prediction: Crypto Pundit Reveals Why $100,000 Is The Nominal Price Level For 2025
- Crypto analyst predicts Bitcoin's nominal price could reach $100,000 in 2025 due to inflation.
- Analyst compares projected price leap to Bitcoin's ATH in 2021 and suggests a potential rise to $65,000 soon.
- More money printing and increased inflation could push Bitcoin's price to $95,000 in the next six to eight months.
- Another analyst forecasts Bitcoin's next market peak to reach $400,000 based on the Bitcoin Power Law.
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