Bitcoin Hits $118K After US Gov Shutdown: What’s Next?

Key takeaways: Yields on US 10-year Treasurys declined, highlighting growing risk aversion and demand for safe-haven assets. Spot Bitcoin ETFs faced $430 million inflows while equities stayed muted, signaling potential decoupling from traditional markets. Bitcoin (BTC) reached a two-week high on Wednesday following the United States federal government shutdown. However, investors remain cautious, recalling that…

Bitcoin Reclaims $118K, Which Altcoins Will Follow?

Key points: Bitcoin has broken above the $117,500 resistance, opening the gates for a retest of the all-time high at $124,474. Several altcoins have started a strong relief rally, signaling solid buying at lower levels. Bitcoin (BTC) closed September with gains of more than 5% and the bulls extended the gains on the first day…

Bitcoin Hits $118K After US Gov Shutdown: What’s Next?

Key takeaways: Yields on US 10-year Treasurys declined, highlighting growing risk aversion and demand for safe-haven assets. Spot Bitcoin ETFs faced $430 million inflows while equities stayed muted, signaling potential decoupling from traditional markets. Bitcoin (BTC) reached a two-week high on Wednesday following the United States federal government shutdown. However, investors remain cautious, recalling that…

How Binance Dollars Became Venezuela’s Currency

Key takeaways:  With inflation at 229%, daily prices in Venezuela are set in USDT “Binance dollars,” usually at live P2P rates. Three dollar rates exist (official, parallel and P2P), but merchants mostly follow the P2P quote. The government tolerates dollar-backed crypto in exchanges, though it hasn’t legalized dollarization. Venezuela is a global crypto hotspot: Stablecoins…

Machi Big Brother’s $44M Profit Turns To $9M Loss On Hyperliquid

Taiwanese music celebrity and high-profile digital asset investor Jeffrey Huang, also known as “Machi Big Brother,” is facing a nearly $9 million floating loss on his Hyperliquid account. Account “0x020c” associated with Huang, who is also a popular Bored Ape Yacht Club collector, is approaching a floating loss of $9 million on decentralized exchange (DEX)…

UK Central Bank Eyes Stablecoins to Reduce Reliance on Banks

Bank of England (BoE) Governor Andrew Bailey suggested that stablecoins could reduce the United Kingdom’s reliance on commercial banks, signaling a potential shift in the central bank’s stance toward digital assets. In a Wednesday article in the Financial Times, Bailey said that the current financial system combines money and credit creation through fractional reserve banking,…

Ether Price Eyes 145% Gains to $10K as ETF Inflows Return

Key takeaways: An ETH price bull flag is in play on the weekly chart, targeting $10,000. Ether ETFs recorded inflows for two straight days totaling $674 million. Strategic Ether reserves and ETF holdings have jumped by 250% since April 1.    Ether’s (ETH) price printed a bull flag pattern on the weekly chart, a technical…

Ether Price Eyes 145% Gains to $10K as ETF Inflows Return

Key takeaways: An ETH price bull flag is in play on the weekly chart, targeting $10,000. Ether ETFs recorded inflows for two straight days totaling $674 million. Strategic Ether reserves and ETF holdings have jumped by 250% since April 1.    Ether’s (ETH) price printed a bull flag pattern on the weekly chart, a technical…

Bitcoin Price Looks Set for Big Gains Toward $138K in ‘Pumptober’

Key takeaways: BTC must clear the next significant resistance level to unlock targets at $127,000–$137,000. On-chain data shows room to run, with $122,000 and $138,000 as the key risk levels. Bitcoin (BTC) closed September with a 5.35% gain, shaking off a late-month correction. Historically, such green Septembers have set the stage for a bullish “Pumptober,”…

Market Rallies, Altcoins Lead Gains; Zcash Hits 16-Month High

The crypto market experienced a boost on Wednesday with majors bitcoin BTC$116,433.23 and ether ETH$4,281.99 rising 2.9% and 3.1% respectively. But the real story was in the altcoin market as several tokens rose by double-digits as investors speculate on another phase of “atlcoin season.” ZEC hit its highest point since May 2022 while a number…