In the ever-evolving landscape of the crypto world, October has brought forth a wave of noteworthy headlines that underscore the dynamic nature of the industry:
Bitcoin has surged to a remarkable 1-1/2-year high, fueled by growing enthusiasm and confidence in the potential approval of ETFs. The anticipation surrounding these developments has contributed to the cryptocurrency’s impressive rally, marking a significant milestone in its market trajectory.
As we approach the final approval period for Bitcoin ETFs in 2023, the price of BTC is making notable strides, pushing towards the $36,000 mark. The heightened activity and positive market sentiment indicate a collective optimism among investors, highlighting the growing importance of ETFs in shaping the crypto landscape.
The crypto market’s breadth is expanding, signaling a broader and more inclusive bullish momentum. This widening scope suggests a positive outlook for various digital assets, further solidifying the industry’s resilience and potential for sustained growth.
As we delve into these headlines and explore the intricacies of the crypto space, it’s evident that October has been a month of significant movements and promising developments. Stay tuned as we unravel the details of these stories and more in this month’s newsletter, offering valuable insights into the ever-evolving world of blockchain and digital asset investments.
ACROSS THE HEADLINES
Cathie Wood’s Ark Invest Sells $5.8M in Coinbase“Long-time Bitcoin bull Cathie Wood moved to offload almost $5.8 million in Coinbase and Grayscale Bitcoin Trust (GBTC) shares on Monday, as the leading cryptocurrency surged by over 10%.”
FTX Creditors’ Lawyers Promote Deal Giving Investors 90% of What’s Left in SBF’s Empire“A deal was secured to pay those who had money at defunct FTX as much as 90% of the assets that remain, and now the lawyers representing some creditors are trying to get enough of those investors on board to make it happen.”
How Much Will One Bitcoin be Worth After BlackRock ETF Approval?“As potential approval of a spot bitcoin exchange-traded fund (ETF) from BlackRock promises to bring major new sources of demand for the asset, bitcoin investment firms and market analysts are speculating about the price impact.”
Crypto Market Breadth Widens, Signals Bullish Momentum“Bitcoin (BTC), the leading cryptocurrency by market value, has gained nearly 27% this month, registering its most significant single-month percentage rise since January.”
LastPass Breach Linked to Theft of $4.4 Million in Crypto“Hackers have stolen $4.4 million in cryptocurrency on October 25th using private keys and passphrases stored in stolen LastPass databases, according to research by crypto fraud researchers who have been researching similar incidents.”
Why Bitcoin ATMs are Taking Over Malls and Gas Stations Across the U.S.“More and more people are using bitcoin ATMs to send money at lightning speed. A study from Bitcoin Depot, the company with the largest share of BTMs across the U.S., found that two-thirds of their customers use the machines for remittances and online purchases.”
‘Crypto King’ Sam Bankman-Fried Faces Decades in Jail After Guilty Verdict“Sam Bankman-Fried, who once ran one of the world’s biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York.”
U.S. lawmakers establish CLARITY Act to shutdown federal ties to Chinese blockchain“U.S. Representatives Zach Nunn and Abigail Spanberger have introduced the CLARITY Act of 2023, a bill aimed at prohibiting federal officials from transacting with Chinese blockchain companies to safeguard national security interests.”
Bitcoin Soars to 1-1/2-year High on ETF Bets“Oct 23 (Reuters) – Bitcoin soared 10% to 1-1/2 year highs on Monday, and crypto-linked stocks followed it higher as speculation about the possibility of a bitcoin exchange-traded fund drove enthusiasm about the sector and prompted short-sellers to quit positions.”
BTC Price Pushes Towards $36K Ahead of 2023’s Last Approval Period for Bitcoin ETFs“Bitcoin traded slightly higher on Wednesday afternoon, staying well past the $35,000 mark ahead of the start of the period.… The analysts believe that even if the SEC delays its decision another time during this period, there’s still a 90% chance that at least one spot bitcoin ETF gets approved by Jan. 10.” |