1. Trump: Congratulations on the 16th anniversary of the Bitcoin white paper.
Former U.S. President Trump posted on social media platform X: 'I want to wish our great Bitcoin enthusiasts a happy 16th anniversary of the Bitcoin white paper. We will end Harris's war on cryptocurrency, and Bitcoin will be made in America! Vote for Trump!'
2. If Bitcoin falls below $70,000, the cumulative liquidation intensity of long positions on mainstream CEXs will reach $1.97 billion.
According to Coinglass data, if Bitcoin falls below $70,000, the cumulative liquidation intensity of long positions on mainstream CEXs will reach $1.97 billion; conversely, if Bitcoin breaks above $73,500, the cumulative liquidation intensity of short positions on mainstream CEXs will reach $1.2 billion.
3. CoinShares: The cost of Bitcoin mining has reached $49,500, setting a new record.
According to Bitcoin.com News, citing CoinShares' latest third-quarter mining report, the cost of Bitcoin mining has soared to record levels. If only cash expenditures are considered, the production cost per Bitcoin is approximately $49,500; including additional expenses such as depreciation and stock compensation, the average cost rises to as high as $961,000. Chief researcher James Butterfill pointed out that despite high costs, miners are still expanding infrastructure and planning further investments in anticipation of future price increases. Previously, Bitcoin's total network hash rate briefly exceeded 800 EH/s, reaching 803.75 EH/s, setting a new all-time high; the current average hash rate over the past week is 749.05 EH/s. Due to high interest rates and fluctuations in the crypto market, mining companies' financing channels are limited, often raising funds by issuing stocks.
4. Analysts: The 'minimum retracement point' for Ethereum before setting a new all-time high may be $2,500.
Independent analyst Poseidon stated that Ethereum experienced its 'last drop' over the weekend, falling to $2,382, but rebounded immediately to over $2,500 within 48 hours. The trader explained that ETH recovered the 200-day EMA level within an 8-hour timeframe, and the weekend drop was a 'bear market trap/deviation', with the 'minimum retracement point' before setting a new all-time high possibly being $2,500. The analyst stated, 'If it maintains above $2,600, I will increase more long positions. I still believe this range will eventually break upwards.'
5. Since Gary Gensler took office as chair of the U.S. SEC, the crypto industry has spent over $400 million in response to enforcement actions.
According to data disclosed by the Blockchain Association, since Gary Gensler took office as chair of the U.S. SEC, the American crypto industry has spent over $400 million to respond to the agency's enforcement actions. During this period, the SEC has filed lawsuits against several large crypto companies, including Coinbase, Kraken, and others. Reportedly, the $400 million figure is based on self-reports from Blockchain Association members, reflecting the enormous compliance costs and potential harms to industry innovation and employment caused by SEC enforcement. Association members include companies such as Ripple, Coinbase, Crypto.com, Grayscale, and Kraken.
6. Zhao Changpeng: 2024 may be a 'recovery year'; historically, the year after a 'recovery year' has been a bull market.
Zhao Changpeng, during an interview at the main venue of Binance Blockchain Week in Dubai, stated, 'I cannot predict the future, but I can analyze history. Historically, Bitcoin has gone through very clear four-year cycles. 2013 and 2017 were bull markets. But in fact, 2012 was a 'recovery year', which many people do not trace back that far. 2016 was also a 'recovery year', and 2017 saw a surge. 2020 was similarly a 'recovery year', and 2021 was a bull market. Therefore, based on current analysis, 2024 should also be a 'recovery year'. As for what will happen next year, it is unclear, but in the long run, I remain very optimistic about the entire industry.'
7. Standard Chartered analysts: Trump's victory will boost Bitcoin to reach $125,000 before the end of the year.
Geoff Kendrick, global head of digital asset research at Standard Chartered Bank, stated that Bitcoin prices may experience a pullback before the U.S. presidential election on November 5, and volatility is expected to increase in the coming days. As traders choose to close positions for profit before the election, the likelihood of Bitcoin breaking above the historic high of $73,700 before the U.S. election is decreasing. Geoff Kendrick added that if the Republican Party (Trump) achieves a landslide victory in the U.S. Congress, Bitcoin prices will experience greater volatility, potentially reaching $125,000 before the end of the year and triggering a new wave of altcoin mania.
8. BlackRock CEO: Inflationary pressures will continue to drive up the prices of assets such as Bitcoin.
According to Forbes, BlackRock CEO Larry Fink warned at the Future Investment Initiative Summit in Saudi Arabia that the Federal Reserve's future interest rates will not be significantly lowered as the market expects, anticipating only one 25 basis point rate cut. Inflationary pressures will continue to drive up the prices of assets such as Bitcoin. Fink also noted that on that day, BlackRock's Bitcoin ETF had net inflows reaching $872 million, a new high for the year, benefiting from central bank easing policies and improved liquidity. Meanwhile, SkyBridge Capital founder Anthony Scaramucci predicts that Bitcoin will reach $170,000 by mid-2026, with a market capitalization potentially reaching $3.3 trillion.
