🎧 #MemeCoins are growing, but altcoins are not — let's figure out why

On Friday, meme coins showed the most significant growth compared to the rest of the cryptocurrency market. Leading the way were #WIF, #DOGE, #PEPE, and #SHIB.

🕯 Analysts explain the behavior of meme coins by noting that these projects rely not on complex technologies like #altcoins but on community, emotions, and the potential for quick profits.

📈 Experts predict that if #Bitcoin continues to rise, market conditions could align in such a way that a "meme coin supercycle" may occur, where their growth could far surpass #BTC in the short term.

#CryptoNews #Opinion

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Waiting?

💯 — $100,000 for #BTC by the end of autumn
🗿 — #Bitcoin will correct back to $60,000 again

#HotPicsFromX

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🌍 Weekly #CryptoDigest News:

🪙 BTC.D (Bitcoin Dominance over Altcoins) — 58.36%.

🧭 Fear and Greed Index — 72

🇺🇸 23.10 17:30 USD — Crude Oil Inventories. Previous value — 2,191M.

🇺🇸 24.10 15:30 USD — Initial Jobless Claims. Forecast — 243K. Previous value — 241K.

📌 The #BTC hash rate has reached 769.8 EH/s — this is an all-time high.

🇯🇵 Japanese politicians promise to reduce the cryptocurrency tax by 20%.

📈 Inflows into #Bitcoin #ETF have exceeded $20 billion in 10 months. It took gold 5 years to achieve the same results.

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🇪🇺 Representatives of the European Central Bank stated that #Bitcoin is the cause of division and growing poverty in society

The Director of Market Infrastructure Development, Ulrich Bindseil, and his advisor, Jürgen Schaaf, said that “the rise of Bitcoin leads to the impoverishment of those who do not own it.” ECB representatives called for the implementation of laws that would lead to the complete disappearance of digital gold. In their opinion, even with rising prices, only early technology enthusiasts will benefit, while those who learned about #BTC significantly later will end up paying for this enrichment.

Experts Ulrich and Jürgen also noted that the spread and rise in the value of Bitcoin will cause "discomfort and disappointment" for people who have not invested in the asset. In addition, elections were mentioned, where participants in the cryptocurrency market could influence the results, forcing politicians to fight for these votes, as seen in the U.S.

🤷‍♂️ Unfortunately, ECB representatives did not clarify whether they plan to ban entrepreneurial activity or property ownership, as, similar to Bitcoin, those who do not own them may experience impoverishment, discomfort, and disappointment.

#CryptoNews

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🔼 Republicans Fuel Crypto Market Growth

Despite the decline in prices caused by the movement of nearly 32,000 #BTC and the S&P 500 closing in the red, James Butterfill, an analyst from #CoinShares, believes that the market is clearly showing investor optimism, driven by the high likelihood of a Republican victory in the upcoming U.S. elections on November 5.

🪙 Just last week, the total investment volume reached $2.2 billion. The U.S. leads the inflow into digital assets, followed by Canada and Sweden with shares of $20 million and $18.2 million, respectively.

#Opinion

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🕯 While the market is falling, traders are betting on the rise of #BTC

Options traders on #Bitcoin are mainly betting on the coin’s price rising to $80,000 after November 8 — the conclusion of the elections and the Federal Reserve meeting, where the new rate is expected to be announced.

The market estimates Donald Trump’s victory at 63.5% and the probability of a rate cut at 87%. Both of these events carry bullish potential for cryptocurrencies. Additionally, the possible resignation of Gary Gensler — the head of the #SEC, whose stance on digital assets is considered ineffective not only by industry representatives but even by the U.S. Congress — adds to the positive sentiment.

#CryptoNews

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#Analysis #BTC

🪙 #Bitcoin is consolidating in the retest zone of the $66,500 level, which serves as a support zone for buyers.

Possible scenarios for further price movements:

🕯 Consolidation with a breakout of the upper boundary at $67,941 and a return to the consolidation zone.

🔼 A more optimistic scenario — breaking the $67,941 level into LONG and moving toward the resistance level of $70,000.

this is not financial advice

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🪙 After the scheduled adjustment, the mining difficulty of #BTC increased by 3.94%, which is now an all-time high.

#NumberOfTheDay

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📌 Key points from #CoinDesk's analysis in the regular #HotPicsFromX column:

🕯 There is a correlation between the rise in gold prices and new #ATH for #BTC: for example, gold reached a record high in 2020, which subsequently led to #Bitcoin reaching new price peaks by the end of the same year.

📆 The same pattern is happening now — in the last seven trading days, inflows into #Gold-#ETF have reached record highs for the past two years. Once the growth in gold prices halts, investors may shift their focus to BTC.

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📌 Friday #CryptoDigest News:

🐳 Whale #Bitcoin holdings have reached an all-time high. Currently, they hold around 670,000 coins, and the number of wallets with a balance of over 100 #BTC has increased by nearly 300 addresses over the past two weeks.

🇺🇸 Yesterday, a wallet reportedly belonging to the U.S. government was hacked, resulting in the theft of confiscated assets worth $20 million.

🏎 #Tesla shares rose by 22% following the earnings report. Additionally, the company confirmed that all of its Bitcoins remain on the balance sheet, despite rumors.

📈 Funds continue to accumulate BTC; on Thursday, capital inflows to #ETF exceeded $188 million.

⚠️ Analysts warn: if #Bitcoin does not reach a new ATH by the end of November, it could signal serious issues in the current bull cycle.

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