IREN Declines 6% on $875M Convertible Note Offering

Bitcoin's price has faced a setback, struggling to break past $126,200 and now consolidating around $122,000. This correction below the $125,000 mark raises concerns about a potential short-term top in the market. With key resistance forming at $123,500 and the possibility of further declines if it dips below $120,500, investors are watching closely. This situation is significant as it could indicate a shift in market sentiment and affect trading strategies.

The Bitcoin Coinbase Premium Gap remains notably positive, indicating strong interest from institutional traders in purchasing Bitcoin. This trend, highlighted by CryptoQuant analyst Maartunn, suggests a bullish sentiment in the market, which could lead to further price increases and greater adoption of cryptocurrency. As more institutions engage with Bitcoin, it reinforces the asset's legitimacy and potential for growth, making it an exciting time for investors.

Hyperliquid (HYPE) has seen a 6% drop to around $45, marking its fifth consecutive session of decline. This downturn follows a significant rejection at a trendline, indicating a shift in near-term momentum to bearish. However, analysts suggest that there are still indicators pointing towards a potential rebound to the $55–$60 range, provided that buyers can stabilize the price above critical support levels. This situation is crucial for investors as it highlights the volatility and potential recovery paths in the cryptocurrency market.

Recent simulations suggest that Bitcoin has a 50% chance of reaching $140,000 by the end of October, based on its historical performance during this month. This potential surge is significant as it aligns with Bitcoin's average gains in October over the years, indicating a promising outlook for investors and enthusiasts alike.

Bitcoin is currently at a crucial juncture, hovering near significant resistance levels, which has traders on alert for a potential major market movement. This situation is further complicated by the rising price of gold, indicating increasing stress in traditional financial systems and a renewed focus on hard assets. Understanding these dynamics is essential for investors as they navigate the evolving landscape of cryptocurrency and traditional markets.

The recent surge in Bitcoin ETF daily trading volume, which has exceeded $7.5 billion, signifies a notable shift towards the integration of cryptocurrency within traditional finance. This increase not only enhances accessibility for investors but also offers greater diversification options, making it an exciting development for the financial landscape.

Bitcoin has surged past $126,000, and Bitwise's Chief Investment Officer, Matt Hougan, is predicting a massive $1 trillion influx into the cryptocurrency market. His optimistic social media post has sparked renewed interest and discussions about the potential growth of Bitcoin-focused funds. This surge in Bitcoin's value and the excitement around it could signal a significant shift in the investment landscape, making it a crucial moment for both investors and the broader financial market.

The European Union is taking steps to restrict the ruble-backed stablecoin A7A5, which has been routing significant amounts of money through Kyrgyzstan into European cryptocurrency markets. However, recent data indicates that this flow accounts for only 2.37% of the total Bitcoin trading volume in the EU. This move highlights the EU's ongoing efforts to regulate cryptocurrency transactions and mitigate potential risks associated with sanctioned assets, but its actual impact on the broader market may be limited.

Bitcoin has reached a significant milestone as the supply on exchanges has dropped to a six-year low of approximately 2.8 million BTC. This decline is seen as a bullish indicator for the cryptocurrency, suggesting that a new all-time high above $130,000 could be on the horizon. The last time the supply was this low was in June 2019, which adds to the excitement among investors as Bitcoin continues to gain momentum.

Recent reports from Glassnode indicate that over 95% of Bitcoin's supply is currently profitable, with prices exceeding $117,000. This surge in profitability could lead to potential sell-offs, which might cause market corrections and affect future price stability. Understanding these dynamics is crucial for investors as they navigate the volatile cryptocurrency landscape.

Bitfinex analysts are optimistic about Bitcoin's performance in the fourth quarter, citing strong structural tailwinds that could drive growth. This positive outlook is significant as it suggests a potential recovery and increased investor confidence in the cryptocurrency market, which has faced volatility in recent months.

OranjeBTC has officially gone public on Brazil's B3 stock exchange, marking a significant milestone for the cryptocurrency landscape in Latin America. This move not only enhances the visibility of Bitcoin in the region but also signals a growing acceptance and integration of digital currencies into mainstream finance. As more investors look towards Bitcoin as a viable asset, OranjeBTC's public listing could inspire other companies to follow suit, potentially accelerating the adoption of cryptocurrencies across Latin America.

Ethereum (ETH) is on a bullish rise, recently surpassing $4,700, driven by expanding global liquidity and increasing institutional interest. This trend suggests that ETH could be heading towards the significant milestone of $5,000. The correlation between Ethereum and the global M2 money supply growth indicates that macroeconomic factors are playing a crucial role in its price movement, making this an exciting time for investors and crypto enthusiasts alike.

A backer of the TRUMP meme coin is seeking up to $1 billion in funding for a digital asset treasury, which could greatly influence the meme coin market's volatility and attract more investors. This move is significant as it highlights the growing interest in meme coins and their potential to reshape the digital asset landscape.

ETF analyst Eric Balchunas has indicated that Canary Capital's filings for spot Litecoin and HBAR funds are nearly complete, but the ongoing government shutdown is expected to delay their launch. This news is significant as it highlights the impact of political events on financial markets, particularly in the cryptocurrency sector, where investor interest in ETFs is growing.

Bitcoin's price has faced a setback, struggling to break past $126,200 and now consolidating around $122,000. This correction below the $125,000 mark raises concerns about a potential short-term top in the market. With key resistance forming at $123,500 and the possibility of further declines if it dips below $120,500, investors are watching closely. This situation is significant as it could indicate a shift in market sentiment and affect trading strategies.

In a recent update, Singapore authorities clarified that the organizer of the Token2049 event is not subject to sanctions imposed on Russia, following the appearance of the Russian group A7A5 at the conference. This clarification is significant as it highlights Singapore's stance on international sanctions and its implications for global events hosted in the city. Understanding these dynamics is crucial for businesses and attendees involved in international conferences.

The Bitcoin Coinbase Premium Gap remains notably positive, indicating strong interest from institutional traders in purchasing Bitcoin. This trend, highlighted by CryptoQuant analyst Maartunn, suggests a bullish sentiment in the market, which could lead to further price increases and greater adoption of cryptocurrency. As more institutions engage with Bitcoin, it reinforces the asset's legitimacy and potential for growth, making it an exciting time for investors.