Peter Brandt says Bitcoin bottom is in, but prepare for a ‘chopfest’

Bitcoin (BTC) may reach new all-time highs by the end of next year, but crypto investors should brace themselves for a “chopfest” in the meantime, according to veteran trader and analyst Peter Brandt. 

In an Oct. 26 post on X (formerly Twitter), Brandt told his 660,000 followers that Bitcoin had likely already bottomed in Nov. 2022 and that the cryptocurrency is on track to notch new highs by the third quarter of 2024.

Anyone who declares they know the future path of any market is a fool. Markets will ALWAYS surprise.

Yet, with this disclaimer, I believe:1. The $BTC bottom is in2. New ATHs not coming until Q3 20243. Chop fest in the meanwhile

I’ve used this blueprint for approx 2 years…

Read more on Cointelegraph

Crypto donations raised by Hamas ‘remain tiny,’ says Elliptic

Blockchain forensic firm Elliptic says there’s “no evidence” that Hamas is receiving a significant volume of cryptocurrency donations to fund its attacks against Israel.

“There is no evidence to support the assertion that Hamas has received significant volumes of crypto donations,” Elliptic said in an Oct. 25 statement. The amounts raised “remain tiny,” the firm added.

Elliptic’s statement was framed as a rebuttal to recent articles and letters written by The Wall Street Journal and United States lawmakers, which the firm says had misinterpreted data to make the case that cryptocurrency is widely used to fund Hamas’ “terrorist” activities.

As an example, Elliptic…

Read more on Cointelegraph

NEW: Bitcoin Surges Over 25% in a Week, Majority of Holders “In the Money”

Bitcoin (BTC) is on an upswing, surging past $35,000, marking a 25% gain in just a week. Data from IntoTheBlock reveals that a whopping 82% of all Bitcoin wallet addresses are now “In the Money,” enjoying profits. Conversely, only 11% of Bitcoin holders fall under the “Investors” and “Whales” category, signifying significant retail involvement. Additionally, 70% are long-term holders, indicating a strong investor sentiment. Despite potential profit-taking, trend signals suggest the bullish momentum may continue, with Open Interest volume surpassing August levels.

Hashdex sits down with SEC over spot Bitcoin ETF application

Asset manager Hashdex recently held a meeting with the U.S. Securities and Exchange Commission to address the regulator’s concerns about its application to allow the Hashdex Bitcoin Futures exchange-traded fund (ETF) to hold spot Bitcoin, a source familiar with the matter told Cointelegraph. 

As per a memorandum released by the Division of Trading Markets, the meeting took place on Oct. 13, with six SEC officials and representatives of Hashdex, NYSE Arca, Tidal Financial Group, and law firm K&L Gates in attendance.

In the meeting, Hashdex presented its mechanism allowing spot Bitcoin (BTC) to be traded and held in the ETF on the Chicago Mercantile Exchange (CME), which the Commodity…

Read more on Cointelegraph

Recovery firm proposes cracking former Ripple CTO’s $244M Bitcoin hard drive

A company is petitioning former Ripple chief technology officer Stefan Thomas for a hard drive containing more than 7,000 Bitcoin (BTC) that he has been unable to access for years.

In an Oct. 25 open letter, crypto recovery firm Unciphered offered to unlock an IronKey hard drive belonging to Thomas containing 7,002 BTC — roughly $244 million at the time of publication. The former Ripple CTO forgot the information to access the drive, designed to erase its data if an individual enters the incorrect password ten times. So far, the German-born programmer has used eight out of his ten attempts.

According to Unciphered, its teams developed a method to crack the hardware and access the BTC…

Read more on Cointelegraph

Neon Machine raises $20M Series A for blockchain-based Call of Duty competitor ‘Shrapnel’

Web3 gaming developer Neon Machine raised $20 million in series A funding toward the development of its highly-anticipated extraction shooter “Shrapnel.” 

This round follows a $10.5 million seed round completed in June of 2021. It was led by Polychain Capital and included funding from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures.

Shrapnel is an ambitious gaming project touted by Neon Machine as a “AAA game” — a non-standard designation used to indicate a video game with top-tier production value, budgeting, and marketing.

According to gameplay footage shown on Neon Machine’s YouTube page and documentation on the game’s…

Read more on Cointelegraph

FTX and Alameda linked wallets transfer $10M of crypto to exchanges in just 5 hours

Wallets linked to bankrupt crypto firms Alameda Research and FTX transferred over $10 million worth of cryptocurrency to exchange deposit accounts in five hours on October 24-25, according to data from blockchain analytics platform Spot On Chain. The movement of these funds may indicate that the firms plan to sell some assets to pay back creditors.

#FTX and #Alameda related addresses are depositing tokens to exchanges!

Via address 0xde9, #FTX 0x97f and #Alameda 0xf02 have transferred

2,904 $ETH ($5.21M)1,341 $MKR ($2.01M)11,975 $AAVE ($1.02M)198,807 $LINK ($2.27M)

to #Binance and #Coinbase in the past 5 hours.… pic.twitter.com/MQxCySp8g0

— Spot On Chain (@spotonchain) October 25,… Read more on Cointelegraph

LATEST: Bitcoin Gaining Ground Over Gold, Could Replace Bullion

In a recent post, Bloomberg Intelligence’s Chief Commodity Strategist, Mike McGlone, highlighted Bitcoin’s growing superiority over gold. McGlone suggested that Bitcoin’s potential to replace gold bullion is increasing, citing the rising expectations for Bitcoin spot ETFs and the decline in holdings of gold-based exchange-traded funds. However, he noted that Bloomberg Intelligence remains bullish on gold, particularly in the event of a U.S. recession. McGlone emphasized that Bitcoin’s recent strength compared to stocks and bonds demonstrates its maturation and diversification as an asset.

Hold onto your hats! MicroStrategy stock has increased a whopping 28% in just past 5 days

“MicroStrategy Incorporated (MSTR) on NASDAQ is making notable strides in the financial realm. With their stock price at a commendable $432.39 USD, they’ve achieved a 1.77% increase today and a whopping 28.22% over the last five days. This trajectory speaks volumes about the company’s potential in the stock market. A significant factor driving this momentum could be their proactive Bitcoin strategy, positioning them at the forefront of businesses leveraging bitcoin for growth.”