October — Week #3
🤑 Markets
- Bitcoin ETFs Attract $1 Billion in Three Days: Bitcoin ETFs attracted over $1 billion in inflows over three days, driven by strong investor demand, with Fidelity’s FBTC and BlackRock’s IBIT leading the surge with significant inflows. This increased investment in Bitcoin ETFs reflects renewed investor confidence and is influenced by speculation about potential Federal Reserve rate cuts, which are seen as bullish for crypto assets.
- CME Bitcoin Futures Open Interest Hits All-Time High: The open interest in CME Bitcoin futures has reached an all-time high, with a significant increase of 25,125 BTC over the past five trading days, indicating strong bullish sentiment in the market. This growth is driven by active market participants, rather than inflows to futures-based ETFs, highlighting the influence of traditional trading entities on the market.
- Bitcoin ETFs See Record $556M Inflows: Bitcoin ETFs saw a significant daily inflow of $556 million, indicating strong investor interest and potentially signaling a breakout for Bitcoin. This surge highlights the growing institutional and retail investment in Bitcoin, reflecting its increasing appeal as a financial asset.
- Bitcoin Surges Above $68K Amid Renewed Bullishness: Bitcoin has surged above $68,000, driven by renewed bullishness in the cryptocurrency market. This increase has also led to Bitcoin's dominance in the crypto market reaching 58.91%, its highest level in 3.5 years, last seen in April 2021.
- Tesla Transfers $760 Million in Bitcoin: Tesla recently transferred nearly its entire $760 million Bitcoin stash to unknown wallets, sparking speculation about a potential sale, although the motives behind this transfer remain unclear. The move has fueled discussions about a possible connection to Donald Trump's crypto initiatives, given Elon Musk's public support for Trump's campaign.
🌈 Adoption
- Russia's New Plant Solves Bitcoin Mining Energy Issues: Russia is constructing a new power plant in Buryatia to address the high energy demands of Bitcoin mining, aiming to alleviate the strain on local power grids and reinforce the country's position in the global crypto mining industry. This development is part of Russia's broader efforts to legalize and regulate cryptocurrency mining, and to integrate digital assets into its financial systems.
📅 Bitcoin Events Coming Up
Meridian 2024
🗓️ When: October 15-17, 2024
📍 Where: London, United Kingdom
Meridian 2024, hosted by the Stellar Development Foundation, is a significant event focusing on the impact of blockchain and financial technologies. While not exclusively a Bitcoin conference, it includes discussions relevant to Bitcoin and its ecosystem by envisioning the future of financial services.
TABConf 2024 (The Atlanta Bitcoin Conference)
🗓️ When: October 24-25, 2024
📍 Where: Atlanta, GA, USA
TABConf 2024 is a premier Bitcoin conference that gathers leading minds in the Bitcoin world to share insights, knowledge, and experiences about the latest developments in Bitcoin. It offers a platform to connect with like-minded individuals and engage with Bitcoin core developers and contributors.
Lugano Plan ₿ Forum 2024
🗓️ When: October 25-26, 2024
📍 Where: Lugano, Switzerland
The Lugano Plan ₿ Forum is a key Bitcoin conference for discussing nation-state Bitcoin adoption, economics, financial freedom, and freedom of speech. It features notable speakers like Stella Assange, Paolo Ardoino, and Michele Foletti, highlighting the broader implications and future of Bitcoin.
Binance Blockchain Week Dubai 2024 (Focus on Bitcoin aspects)
🗓️ When: October 30, 2024
📍 Where: Dubai, UAE
While a broader blockchain event, it includes significant focus on Bitcoin. Leading industry speakers will discuss future prospects of blockchain and cryptocurrency, offering networking and collaboration opportunities.
🤔🤔 Wanna learn more? Check out the BLOCKTALK!