The recent jump in the spot price of bitcoin (BTC) to $69,000 has encouraged investors, as evidenced by data from analyst firm Glassnode.

The change in sentiment coincided with the cryptocurrency crossing several technical thresholds, including the 200-day and 111-day moving averages, both of which are critical levels associated with price movements.
Net capital inflows into bitcoin have also accelerated, increasing by $21.8 billion (+3.3%) over the past 30 days. This has caused Realized Cap to climb to a new ATH of over $646 billion, suggesting that liquidity across the asset class is on the rise.
Glassnode Onchain Weekly Report #43
Supporting this rally was the bitcoin reserve status of short-term investors, and this is a key indicator for understanding recent market sentiment. According to Glassnode, all age groups in the short-term holders group have unrealized gains, which could boost market confidence.
This circumstance could act as a tailwind for continued upward price movement. On the derivatives side, open interest in bitcoin futures reached a new high of $32.9 billion, with much of that growth attributed to institutional participation, particularly through the Chicago Mercantile Exchange (CME).

Read more

Read more

One of the oldest cryptocurrency exchanges in the world, Kraken, plans to launch a blockchain for decentralized applications early next year that will allow trading, borrowing and lending tokens without intermediaries, similar to Base from the Coinbase (NASDAQ: COIN ) exchange.

The new network has already received the name Ink. According to the developers, the test version of the blockchain will be launched by the end of this year, and the main one in the first quarter of 2025.

By the time of the final launch, the Ink blockchain will support over 10 major applications — decentralized platforms and liquidity aggregators. According to the information provided, the network validators will be controlled only by the Kraken exchange, but later the network is planned to be decentralized. In addition, as the exchange representatives reported, the blockchain will not have a native token, at least for now.

The move marks an attempt by the crypto exchange to further expand its presence in the DeFi ecosystem and provide more decentralized services, joining its rival Coinbase, which has done the same with Base.

So, following the example of its biggest competitors like Binance and Coinbase, Kraken is releasing its blockchain — a move that should increase the number of users on the platform. A similar tactic once paid off for Binance and its BNB Chain.

Read more

Read more

Renowned investor and author of the best-selling personal finance book “Rich Dad, Poor Dad” Robert Kiyosaki shares his opinion on what experienced investors should do during the month of “Uptober.”

Bitcoin's [expected] surge during Uptober signifies an opportunity to acquire more bitcoins, or “go ahead and say goodbye.”
Apparently, Kiyosaki believes the traditional October rise is still to come, and it will be substantial.

Bitcoin began rising on Oct. 10 after briefly falling below $59,000 earlier in the month. This has revived hopes that a rally to a new high near $100,000 is possible. Statistically, October has often been an outstanding month of strong bitcoin performance, with the impact of the bullish momentum extending into May.

Unlike other analysts and financiers, Kiyosaki is consistently optimistic about BTC and sees it, along with gold and silver, as the main safe haven from the devastating effects of the coming economic crisis.

Other experts express their confidence that despite the ups and downs, bitcoin remains in an uptrend and could rise above $85,000 by October 31.

Read more

Read more