Bitcoin Price Analysis: BTC Triangle Breakout Reaches $ 11,500
Bitcoin seems to have bottomed out, giving way to gains of up to $ 12,000.
The flagship cryptocurrency eventually burst above the stubborn resistance at $ 11,000. An impressive weekend profit of $ 11,500. However, colossal bullish pressure appears to have stalled in the $ 11,200 to $ 11,500 range. Meanwhile, the bitcoin dollar is hovering at $ 11,360 as bulls pause before resuming their final approach to $ 12,000 highs.
BTC reached $ 11,500
UK Crypto Derivatives Ban Has Limited Impact On Small Market
The UK FCA ruling will prohibit individual investors from speculating in bitcoin and other cryptocurrencies.
Some UK brokerages offering cryptocurrency derivatives products to retail traders may face a drop in earnings, although major crypto exchanges, including Kraken, say the impact is likely to be minimal. While UK individuals can still trade real cryptocurrencies, there may be some traders looking to get around the rules by trading on offshore exchanges.
The ban will take effect in January.
FCA UK decision
Binance Futures Lead As BitMEX Drops 30%
Binance Futures became the largest derivatives exchange by trading volume in September and BitMEX volume fell 30%.
Derivatives and spot volumes declined 17.5% to $ 635 billion and $ 676.6 billion, respectively. Despite the fact that they were lower than in August, it is worth noting that these figures were higher than in the previous two months – June and July.
However, the drop in derivatives on Binance was one of the lowest. Other popular names such as Huobi, OKEx and BitMEX saw more significant declines. As a result, Binance Futures, with a trading volume of $ 165 billion, became the “largest derivatives exchange by volume” in September.
89% of bitcoin addresses in profit, data on the network
The vast majority of Bitcoin addresses are profitable, as shown by on-chain data from intotheblock.
According to analyst firm intotheblock, 89.28% of Bitcoin addresses are currently profitable.
On-chain data shows there are 31.94 million addresses on the Bitcoin blockchain network with balance. This means that a total of 28.5 million
$ 11 Million Satoshi Era Bitcoin Moved
Bitcoin, worth $ 11.4 million, has moved since 2010.
Someone transferred over $ 11 million worth of bitcoin that has been dormant in wallets since it was mined in 2010.
1,000 bitcoins – today they cost $ 11,425,000 – have moved to one address. This move was noted on LinkedIn by professional cryptocurrency trader Kirill K.
SEC will be forced to give instructions on cryptography despite bureaucracy, avoiding risks
SEC Commissioner Hester Pierce said the increased interest in the area will surely force the regulator to move to a more accommodating position.
Pierce blamed the bureaucracy for the SEC’s slowness to respond to financial innovation, saying it discourages change and discourages risk-taking.
10 million euros lost due to crypto scams in Belgium in one year
The Belgians have lost about 10 million euros in cryptocurrency scams.
Belgian citizens have lost almost 10 million euros due to fraudulent investment schemes in cryptocurrency. This was announced by the main financial body of Belgium – the Financial Services and Markets Authority. According to the supervisory authority, these data refer to the period from May 2019 to September 2020.
Monthly Ethereum Futures Volume Reaches Record High in September
The demand for Ethereum futures continues to grow.
According to recent data from Skew and The Block Research, the demand for Ethereum futures continues to grow. The monthly volume of Ethereum futures rose 5.3% in September, from $ 163.1 billion to $ 172.2 billion. In August, this figure broke the previous record. Since the beginning of 2020, the volume of Ethereum futures has grown by almost 320%.
Here’s Another Reason To Be Optimistic About Bitcoin This Year
Bitcoin search results on Google are one of the hottest topics in correlation history.
According to the latest research report from Xangle, interest in Bitcoin fell 27% in September and, accordingly, the price of Bitcoin fell 10% as well. Something similar happened with Ethereum, as DeFi, considered the “latest fad” on the market, lost a lot of fans. In fact, interest in Ethereum plummeted 64%, and the price fell 25% accordingly.
Rarible is the latest DeFi project to reveal its centralization
DeFi Rarible Project Blocks Team Account Due to Potential Terms of Service Violation
According to an October 11 tweet, Rarible, the first decentralized and community-owned digital collectibles marketplace, has temporarily suspended the group account “pending further investigation” due to a breach of terms of service.