Author: Max Bauer
Cryptocurrency markets are watching the US Presidential election closely, but Bitcoin’s price action is showing signs of decoupling from former President Donald Trump’s perceived chances, according to analysis from QCP Capital. While Trump’s recent interview on the Joe Rogan Experience podcast has boosted his odds on prediction markets like Polymarket to over 66%, Bitcoin’s correlation with these odds appears to be weakening. Correlation Between Bitcoin Price and Trump’s Likelihood of Winning the Election is Declining Historically, some analysts have referred to Bitcoin as the “Trump Trade,” suggesting a positive correlation between his political fortunes and the cryptocurrency’s price. However, despite…
Circle CEO Jeremy Allaire reaffirmed the company’s long-standing commitment to going public, stating that this vision remains unchanged despite market fluctuations and regulatory scrutiny. In a recent interview with Bloomberg, Allaire emphasized Circle’s readiness for the public market, asserting that the company doesn’t require further private funding. “We are very committed to the road to listing,” Allaire stated, “and we can become a really interesting company in the public market.” Circle’s journey towards an initial public offering (IPO) has been marked by both progress and setbacks. Earlier this year, the company confidentially submitted a draft registration statement to the U.S.…
Prominent trader Eugene Ng Ah Sio predicts a market upswing following the upcoming November elections, expressing strong optimism for Solana ($SOL) in a recent social media analysis. Ng Ah Sio believes the market has cleared out speculative long positions established in October, paving the way for renewed growth. Ng Ah Sio anticipates that market participants largely intended to reduce risk exposure in the lead-up to the November 5th elections. This de-risking, he notes, occurred slightly earlier than expected, influencing his own defensive positioning in recent days. However, he now sees the market as primed for a continued upward trajectory. Central…
Ethereum community member Ryan Berckmans has outlined five key reasons why he believes Solana cannot achieve the status of a global blockchain backbone, a position he firmly asserts belongs to ETH. Berckmans argues that Ethereum’s focus on Layer 2 (L2) scaling positions it as the foundation of a new global financial system, while Solana’s architectural choices and history present insurmountable obstacles. Berckmans’ argument comes in response to suggestions that Solana could pivot to become a backbone similar to Ethereum. He acknowledges Solana’s recent success in decentralized finance (DeFi) and meme-driven growth, but contends that Solana’s leadership is beginning to recognize…
The cryptocurrency market experienced a volatile week, with Bitcoin (BTC) retesting the July high of $69,500 before retracing to find support around $65,000, according to analysis from QCP Capital. The firm suggests a consolidation pattern is forming. Despite the price fluctuations, institutional demand for Bitcoin remains strong. BTC ETF net inflows reached $997.7 million this week, marking the third consecutive week of positive flows. This sustained institutional interest underscores Bitcoin’s growing acceptance within traditional finance. Bitcoin’s dominance continues to climb, reaching 59.75% this week, while Ethereum (ETH) struggles against its counterpart. The ETH/BTC pair broke key support at 0.03850, sliding…
Bitcoin Core developer Peter Todd has denied claims that he is in hiding following accusations made in the recent HBO documentary “Money Electric: The Bitcoin Mystery” that he is Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Todd’s denial comes after a Wired article suggested he had gone into hiding following the documentary’s release. Todd appeared publicly at a Bitcoin conference in Lugano today, where a statue honoring Nakamoto was unveiled. He is scheduled to speak at five more international events in the coming weeks. This public presence directly contradicts the narrative of him being in hiding. The documentary, directed by…
According to Ryan Rasmussen, Research Director at Bitwise, four key catalysts could propel the cryptocurrency market to new heights. In a recent social media post, Rasmussen outlined these potential drivers, offering a bullish outlook for the future of digital assets. 1. US Election and Regulatory Progress: While uncertainty surrounding the upcoming US election weighs on market sentiment, Rasmussen points to the increased effectiveness of crypto lobbying efforts and bipartisan support in Congress. He anticipates that regardless of the election outcome, legislation favorable to the crypto industry is likely to pass, providing a more stable regulatory environment. 2. Interest Rate Cuts…
The cryptocurrency market continues its downward spiral, with altcoins bearing the brunt of the decline. On-chain data reveals significant Arbitrum (ARB) sales by two prominent market makers, Wintermute and GSR, adding to the bearish sentiment. Wintermute deposited 1.16 million ARB tokens, valued at approximately $2.10 million, onto the Binance exchange a few hours ago. Shortly after, GSR followed suit, transferring 4.71 million ARB, worth around $2.57 million, to the same exchange. These substantial moves come as the total cryptocurrency market capitalization has plummeted by 2.29% in the last day, reaching $2.27 trillion. The altcoin sector has been particularly hard hit,…
In two recent communications, Ethereum co-founder Vitalik Buterin has shed light on the future direction of the Ethereum protocol and addressed concerns regarding recent ETH sales. Buterin’s latest article, titled “Future Development of Ethereum Protocol (Part 5: The Purge),” focuses on tackling the growing complexity and storage requirements of the blockchain. He argues that the inherent nature of blockchain protocols is to expand over time, both in terms of stored historical data and the complexity of its functions. This poses a significant challenge to the long-term sustainability of the network. The solution, according to Buterin, lies in implementing a counter-pressure…
A fake application mimicking the popular decentralized finance (DeFi) platform Curve Finance has gained significant traction on the Apple App Store, ranking among the top 100 financial apps on October 26, according to a report from Cointelegraph. Despite multiple users flagging the app as a scam, it remains popular across regions including Europe, Latin America, New Zealand, the United States, and Southeast Asia, putting unsuspecting users at risk. The fraudulent app, named “Curve defi v3,” was developed by an entity listed as “Tao Duong Van.” It has misled users by replicating the official Curve Finance logo and functionality, creating a…