On September 27, bitcoin (BTC) reclaimed a trading price of $66,500 for the first time since late July. This surge was accompanied by bullish sentiments from many investors.
Instead of going higher, the leading crypto asset has tanked below $64,000 at press time. Blockchain market intelligence platform Santiment shares insight into a possible reason behind bitcoin’s failure to unlock higher prices.
What Could Drive Bitcoin’s New ATH?
The chart below shows the rapid surge in positive commentary towards BTC after the asset unlocked a local high of $66,500. Santiment’s research showed that there were 1.8 bullish BTC posts for every 1 bearish. Most of these bullish comments leaned on the possibility of bitcoin reaching the $70,000 price mark.

If you’re awaiting Bitcoin’s

In one of the latest collaborations between public and private entities, the world’s largest cryptocurrency exchange, Binance, announced that it helped Indian authorities bust a purported legitimate online gaming app that defrauded users of more than Rs 400 crore ($47.6 million).
According to a blog post, the Binance Financial Intelligence Unit (FIU) provided critical aid that enabled India’s Enforcement Directorate (ED) to trace the funds siphoned by the operators of the gaming app Fiewin and uncover the network.
Binance Helps ED in Fraud Case
Fiewin operators marketed the app as a project that allows users to earn money by playing mini-games. Participants could create accounts and engage in the app’s activities by topping up their balances through various payment

An analysis by market intelligence platform IntoTheBlock has discovered the number of daily active addresses for major cryptocurrencies. This metric offers insights into the intensity of user activity on these networks.
According to data gathered by IntoTheBlock, these crypto assets include large-cap altcoins like Solana (SOL), meme coins like Dogecoin (DOGE), and the largest of the bunch Bitcoin (BTC).
Solana Tops the List
Atop the list is Solana, with a daily active address count of $3.04 million. Its network has been the subject of numerous discussions and trends this year, particularly the meme coin mania, which has led to an influx of more users. The blockchain has seen the launch of new protocols, like Pump.Fun, which has taken meme coin trading on the network to new

The United States spot Bitcoin exchange-traded fund (ETF) market is seeing a new wave of trading alternatives, including the availability of options. This latest move could attract liquidity and longer-term investors to the Bitcoin ecosystem, but it has a downside.
According to a CryptoQuant report, the availability of options for spot Bitcoin ETFs could increase the paper supply of BTC, allowing investors to gain exposure to the leading digital asset without investing through the spot market.
The Approval of Spot ETF Options
CryptoQuant disclosed that the U.S. Securities and Exchange Commission (SEC) recently approved the listing and trading of asset manager BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF in the market.
Options are financial

LINK, the native cryptocurrency of the Ethereum-based decentralized blockchain oracle network Chainlink, has witnessed a price breakout fueled by strong on-chain activity and increasing investor confidence.
An analysis by blockchain intelligence platform Santiment revealed that technical indicators for LINK suggest there is a potential for continued price gains and that the asset’s long-term outlook remains positive.
Positive Sentiment Around Chainlink
According to Santiment, the Chainlink community considers the network a pivotal player in the altcoin market due to its decentralized oracle technology. Community members view the project as one that could drive innovation in the blockchain space and bridge the gap between on-chain smart contracts and off-chain data sources.

Ethereum (ETH), the second largest cryptocurrency, has failed to reclaim the $3,000 price mark since early August. However, things could begin looking positive for the asset once again.
An analyst from the blockchain analytics platform CryptoQuant has shared a chart explaining how a continued cash inflow into the Ethereum futures market could elevate the biggest altcoin.
Source: CryptoQuantFunding Rates to Drive ETH’s Price Rebound
According to the analyst, the perpetual futures market contributes to the price movement of underlying digital assets. More buy actions in the futures market indicate investors’ interest in the crypto asset, hence projecting its value to higher prices. Conversely, more sell actions are subsequently accompanied by a price decrease.
The chart

Sources familiar with the living arrangements of the Metropolitan Detention Center (MDC) in Brooklyn have revealed interesting facts about two popular inmates. The recently arrested American rapper and celebrity Sean Combs, popularly known as Diddy, is in the same cell with Sam Bankman-Fried (SBF), the convicted founder of the bankrupt crypto exchange FTX.
According to a New York Times report, Combs and SBF live in the same unit with other high-profile inmates, including Mexico’s former secretary of public security, García Luna, and former president of Honduras, Juan Orlando Hernández.
Combs in Cell With SBF
SBF has been at the MDC since August 2023 after a judge revoked his bail after he attempted to tamper with witnesses. Earlier this year, he was sentenced to 25 years

Bitcoin’s (BTC) price is currently on an upward momentum, and there is a chance the crypto asset could surge higher, according to on-chain data.
A report from the pseudonymous CryptoQuant analyst Avocado revealed that several on-chain support levels suggest a positive turning point for BTC in the long term, indicating that the cryptocurrency is still in its bull season.
Positive Outlook for Bitcoin
Avocado said these on-chain data points have reached their average support levels, and coupled with recent price movements, these metrics signal positive sentiment from a long-term standpoint.
One of the metrics is the seven-day Simple Moving Average (SMA) of Bitcoin’s Fund Flow Ratio, which suggests that BTC investors have begun to trade on exchanges again. The metric has

While several central banks across the globe are actively exploring the feasibility of launching a Central Bank Digital Currency (CBDC), a recent survey has revealed that cash will not be going away anytime soon as a majority of consumers are not enthusiastic about using those products.
The survey, conducted by Deutsche Bank, Germany’s leading investment bank, polled 4,850 respondents from Europe, the United Kingdom, and the United States. A majority of the respondents stated that they prefer conventional payment methods like cash and debit or credit cards.
Cash Reigns Supreme
According to the study, 59% of the respondents believe cash will always be useful, with 44% stating that they would prefer using cash for payments rather than CBDCs. Only a small percentage of

The Wrapped Bitcoin market is seeing the emergence of new players, like Coinbase, the largest American crypto exchange. Analysts believe the market’s current condition presents an opportunity for higher user engagement, enhanced cross-chain liquidity, and significant growth in the coming years.
However, observations made in the latest CryptoQuant report suggest the race may not be smooth, and investors may be reluctant to use some tokens because of the mechanisms used by the custodians.
The Emergence of New Wrapped Bitcoin Tokens
Wrapped Bitcoin tokens enable holders to use other networks and decentralized finance (DeFi) applications that are not on the Bitcoin network without selling their BTC. They are backed 1:1 with BTC and are mostly found on Ethereum. The first of

German authorities have shut down 47 cryptocurrency exchanges operating in the country for allegedly facilitating large-scale money laundering operations for cybercriminals.
According to an official statement by the Frankfurt main prosecutor’s office, the German office for combating Internet crime, and the federal criminal police office, these exchanges deliberately allowed their users to bypass Know You Customer (KYC) policies.
The KYC policy is a verification process that requires platform users to submit their basic identification details. However, since these exchanges allowed users to complete transactions without this verification, they created a conducive environment for cyber criminals to launder the proceeds of their illegal activities with little to no risk of

Terraform Labs, the company behind TerraUSD (UST) and Luna, has secured court approval to wind down operations in bankruptcy after settling with the United States Securities and Exchange Commission (SEC).
According to a Reuters report, the wind-down plan was approved by US Bankruptcy Judge Brendan Shannon, who called it a “welcome alternative” to further litigation over investors’ losses. The approval marks the final step in Terraform’s bankruptcy proceedings.
Terraform Legal Woes
The development comes three months after Terraform and co-founder Do Kwon reached a $4.47 billion agreement with the SEC to settle fraud charges related to the collapse of the Terra ecosystem.
The agency accused Terraform and the co-founder of deceiving investors about the stability of TerraUSD,

The Open Network (TON) has continued to record outstanding growth as the protocol recently saw its active addresses outperform leading blockchains in the industry.
According to data from the market intelligence platform IntoTheBlock, the number of daily active TON addresses surged to 3 million in the first week of September.
Per the data, this figure exceeded the number of active addresses recorded on major Layer 1 networks, including Bitcoin and Ethereum. TON’s popularity over the past few months has attracted increasing attention from developers, investors, and users alike, further solidifying its position as a rising contender in the blockchain space.
USDT Trading Volume on TON Surges
In addition to the growing number of active addresses, TON has experienced an increase

Anthony Scaramucci, founder of the New York-based investment firm SkyBridge Capital, has revealed that he is working with Democratic presidential candidate Kamala Harris to draft crypto policies for her campaign.
According to a CNBC report, Scaramucci made the revelation at the annual TOKEN2049 crypto conference on Thursday. He told a panel during the conference that several crypto advocates are currently in talks with Harris to draft industry-friendly policies ahead of the elections in November. Scaramucci stated that Harris will be engaging in some of these crypto-related discussions later this week.
The SkyBridge founder pointed out that the crypto advocates are working to distance the Democrats from Senator Elizabeth Warren and SEC chairman Gary Gensler, who are both

A key metric that indicates US investors’ interest in bitcoin turned negative on Friday.
Experts, however, believe that this flip could positively affect BTC’s price.
Coinbase Bitcoin Premium Records Negative Value
According to a report by a CryptoQuant analyst, the Coinbase Premium recently recorded a significant negative value. The Coinbase Premium Index is an indicator that measures the percentage difference between the price of bitcoin on Coinbase Pro and Binance.
Coinbase Pro is popular among crypto traders in the United States as well as several institutional investors while Binance, the largest crypto exchange by trading volume, caters to a more global audience. Thus, the index provides insight into the trading behaviors of users on both platforms.
Historically,

Despite a slowdown in Bitcoin (BTC) whale accumulation, the weekly net flows among these large holders (addresses with at least 1,000 BTC) have remained positive for nearly four months.
Positive net flows indicate that more BTC is entering these wallets than leaving, suggesting potential buying pressure, while negative net flows mean more BTC is flowing out of these entities.
Whales See Consistent Inflow
According to data from IntoTheBlock, the weekly net inflow peaked at 27K BTC (worth approximately $1.7 billion in current prices) in June. Subsequently, whales experienced a weekly inflow of 19K BTC ($1.2 billion) in July, 18K BTC ($1.13 billion) in August, and 9K BTC ($556.9 million) in September.
The last time these wallets experienced negative net flows was in May,

While bitcoin (BTC) faces local resistance levels, the crypto asset is experiencing a rally driven by aggressive spot market activity.
According to a Bitfinex Alpha report, on-chain metrics suggest bitcoin’s momentum is currently bullish. This outlook is also reinforced by rising inflows into the United States spot Bitcoin exchange-traded funds (ETFs), signaling growing confidence among retail and institutional investors.
Spot Activity Drives Bullish Momentum
Bitcoin’s bullish momentum is seen in the Spot Cumulative Volume Delta (CVD) data. This metric measures the net volume from spot market orders across exchanges by subtracting the volume of sell orders from buy orders. The asset’s spot CVD has driven its price upward since the plunge below $53,000 in early September.

The crypto staking landscape is constantly evolving, with new and remarkable shifts coming to light every now and then. A feature that was once primarily attributed to networks with proof-of-stake consensus mechanisms like Ethereum, developers have now brought staking and restaking to the Bitcoin blockchain.
A report by the non-custodial staking services provider P2P.org outlined some major staking trends seen in the market over the past month.
Trends in Ethereum Staking
The Ethereum network has seen steady validator growth despite the current crypto market uncertainty, volatility, and lower rewards. P2P.org discovered that the blockchain witnessed a 1.49% growth in the number of validators and staked amounts of ether (ETH).
“While this growth is consistent with previous

The price of bitcoin (BTC) has entered a bearish phase, stemming from the asset’s constant decline and range-bound movement. As a result, the largest cryptocurrency has decoupled from gold.
According to CryptoQuant analysts, bitcoin’s price has been declining while the yellow metal has rallied to new record highs, causing their correlation to turn negative.
Bitcoin Decouples From Gold
The negative correlation between bitcoin and gold reflects a risk-averse environment where investors prefer traditional safe-haven assets over speculative ones like cryptocurrencies. While BTC is decoupling from the metal, the crypto asset has been moving in the same direction with lower United States stock markets. Analysts said this is a sign that macro headwinds are affecting BTC.
Since

The Solana network is experiencing an increased influx of users and a “break-through moment,” thanks to the introduction of liquid staking on the blockchain.
A new report by the leading cryptocurrency exchange, Bybit, stated that Solana’s liquid staking model, especially the exchange-launched liquid-staked SOL, would mobilize masses and accelerate the onboarding of retail users in the ecosystem.
The State of Liquid Staking on Solana
As a proof-of-stake network, staking is crucial to the security of the Solana ecosystem. While the process involves users delegating their SOL to one or more validators, which participate in network consensus and validate transactions for rewards, liquid staking offers much more.
Liquid staking provides flexibility, liquidity, and potential for

The number of addresses holding Tron’s native token TRX for the long term has skyrocketed over the past 12 months, according to data from the blockchain intelligence firm IntoTheBlock.
A tweet from the market analytics platform revealed that the Tron network currently has nearly 90 million long-term holder addresses, representing a 237% increase in the past year.
TRX Long-term Holders Are Increasing
IntoTheBlock said the increase in TRX’s long-term holder addresses shows strong confidence in the network’s future, as more investors are willing to hold the cryptocurrency for a prolonged period.
The address spike also reflects significant growth and high activity on the Tron network. Over the past few weeks, TRX has been among the top-performing crypto assets in the market.

Within the next six months, the United States arm of the financial services company, eToro, would cease trading almost all crypto assets on its platform due to a new order from the Securities and Exchange Commission (SEC).
According to a press release from the SEC, eToro has violated federal securities laws since at least 2020. As a result, the exchange would pay a fine of $1.5 million and make a limited set of cryptocurrencies available for trading.
SEC Announces Settlement With eToro
The SEC accused eToro of operating as an unregistered broker and clearing agency and facilitating the buying and selling of crypto assets as securities on its online trading platform. While the exchange offered these services, it failed to comply with the registration provisions of the

American singer and dancer Jason Derulo has not provided any updates about his meme coin JASON since July, raising concerns about the cryptocurrency’s fate despite multiple promises about its future and development.
On-chain sleuth ZachXBT brought Derulo’s silence on the project to light in a recent tweet, reprimanding influencers who promoted the token at its launch. Zach insisted that the influencers were wrong to believe that the JASON project would differ from the over 15 scams Derulo had previously promoted.
Derulo’s “Commitment” to JASON
Three months ago, Derulo joined the growing list of celebrities who have launched meme coins to unveil his project on the Solana network. The popular musician made several posts about the coin, created memes around the project, and

The percentage of Bitcoin Unspent Transaction Outputs (UTXOs) in profit has fallen to its lowest level this year, last seen in October 2023. This decline in this metric aligns with the current plunge in bitcoin’s (BTC) price and the downward trajectory of the broader crypto market.
According to a report by CryptoQuant analyst EgyHash, this could be a sign of an incoming massive rally.
Bitcoin UTXOs in Profit Decline
A Bitcoin UTXO refers to the amount of cryptocurrency that remains after a transaction on the network. Analyzing UTXOs is often crucial in understanding investor behavior over different periods.
In June, 99% of Bitcoin UTXOs were in profit; however, that number had declined to 68.5% by September. EgyHash said the plunge suggests that some market participants

The Bitcoin hash price, a metric measuring miner revenue per terahash or computing power, has fallen to its lowest level ever. According to recent data, this is a sign of upcoming bullish momentum.
A Quicktake by CryptoQuant analyst Woominkyu revealed that the current level of the bitcoin hash price indicates a good buying opportunity.
A Buying Opportunity
Woominkyu shared a chart highlighting the relationship between the price of bitcoin and the network’s hash price. The chart showed periods when a drop in hash price corresponded with BTC bottoms; hence, based on historical data, lower hash level periods have occurred simultaneously with BTC price bottoms.
With the hash metric at its lowest level, the price of BTC could be near or already at its bottom, and historical

The iShares Bitcoin Trust (IBIT), issued by BlackRock, the world’s largest asset management firm, just recorded its first day of outflow in almost four months.
Data from Farside Investors shows that IBIT investors withdrew $13.5 million from the fund on Thursday, August 29. The last time the BlackRock spot Bitcoin exchange-traded fund (ETF) recorded a negative flow was on May 1, and the outflow amounted to $36.9 million. Since then, the fund has either witnessed inflows or zero flows.
IBIT Sees First Daily Outflow Since May
BlackRock’s IBIT has been the leading Bitcoin ETF since May when it surpassed the Grayscale Bitcoin Trust (GBTC) after 96 trading days following its launch. At the time, IBIT became the largest spot Bitcoin ETF, with assets under management (AUM)

The Singapore-based cryptocurrency exchange Crypto.com has partnered with Standard Chartered, the leading multinational banking institution, to offer fiat services to retail users worldwide.
According to a press release shared with CryptoPotato, Standard Chartered will provide the exchange with banking and payment solutions to enable the deposits and withdrawals of the United States dollar (USD), the euro (EUR), and the United Arab Emirates Dirham (AED) on the Crypto.com app.
Crypto.com Launches Retail Services
Crypto.com’s new services would initially be available only to retail clients in the United Arab Emirates (UAE). The exchange intends to eventually expand its offerings to global users through its regional hub in Dubai. The firm attributed the possibility of the

The leading Bitcoin layer-2 network, Stacks, has commenced implementing its Nakamoto upgrade, which will enhance functionality and integration with its base blockchain.
According to a press release shared with CryptoPotato, Stacks began the Nakamoto Activation Sequence on August 28. The process has four key steps, including the final code delivery, Cycle 92; the upgrade period for network operators; Cycle 93, which entails core developers selecting the final hard fork; and the Hard Fork Block, which would see the full implementation of Nakamoto rules.
Stacks Begins Nakamoto Upgrade
The Stacks Nakamoto upgrade is named after Satoshi Nakamoto, the pseudonymous creator of the Bitcoin network. It will introduce several improvements to the Stacks protocol, including increased

One of the biggest upgrades on the Cardano network is set to be deployed in the next three days. It will introduce new features and finalize the blockchain’s transition into a community-run network.
The Chang hard fork was initially scheduled to go live on Tuesday, August 27, per an announcement on August 20; however, Cardano founder Charles Hoskinson revealed on August 23 that the launch had been moved to September 1, 2024.
According to Hoskinson, crypto exchanges like Binance and others need more time “to get their houses in order, so the rocket is going to wait on the pad, another epoch for the weather to get better.”
What Is the Chang Hard Fork?
The development of the Cardano network is grouped into five eras: Byron (foundation), Shelley (decentralization), Goguen

The bankrupt cryptocurrency lender Celsius Network has released its first status report on creditor distributions, revealing that affected parties have received over $2.53 billion in liquid crypto and cash.
According to a filing with the United States Bankruptcy Court for the Southern District of New York, the $2.53 billion in crypto and cash was distributed to more than 251,000 creditors at prices set on January 16, 2024. Celsius is in the process of repaying other creditors through their respective distribution agents.
Celsius Repays $2.53B to 251K Creditors
Following the approval of Celsius’ reorganization plan by a bankruptcy court and the U.S. Securities and Exchange Commission earlier this year, the beleaguered crypto firm began distributions around January 31. The