Canadian MP Honors Bitcoin's 15th Anniversary and Satoshi Nakamoto's Vision
Canadian Member of Parliament Joël Lightbound celebrated Bitcoin's 15th anniversary and praised its anonymous creator, Satoshi Nakamoto, on the Parliament floor. Lightbound also disclosed his personal ownership of Bitcoin and emphasized the importance of understanding the cryptocurrency rather than just investing in it. He acknowledged Bitcoin's roots and its evolution as a beacon of hope for the underbanked and those under oppressive governance. The mention of U.S. SEC chief Gary Gensler's recognition of Nakamoto's creation in reshaping economic frameworks garnered attention, despite his unexpectedly challenging crypto position post his SEC appointment.
Report: 72% of UAE respondents prefer Bitcoin
KuCoin recently released an investigation report, which attracted 597 cryptocurrency investors from the United Arab Emirates. 72% of the respondents prefer Bitcoin. About 48% of UAE cryptocurrency users expressed concerns about the lack of trust in cryptocurrency platforms, and 32% of respondents believe that the lack of cryptocurrency education and awareness is a major challenge in the region. This reflects the urgent need to cultivate trust and strengthen education promotion in the cryptocurrency field.
1,290 BTC transferred from unknown wallet to Binance
According to Whale Alert monitoring, 1290 BTC (about $44,478,571) was transferred from an unknown wallet to Binance.
Pantera Capital executive: Stablecoin providers need to offer money market yields to stay competitive
According to a report by Jinse Finance, a Pantera Capital executive stated that the stablecoin industry will undergo a transformation as providers need to offer currency market returns to remain competitive. While BTC and ETH have been "very successful," they have not met many people's initial expectations for cryptocurrencies. Fifteen years after the release of the BTC white paper, its status as a good alternative currency has been undermined due to its lack of speed and scalability.
2905 BTC transferred from unknown wallet to unknown wallet
According to Whale Alert monitoring, 2905 BTC (approximately $100,351,765) was transferred from an unknown wallet to another unknown wallet.
Gary Gensler: Congratulations on the 15th anniversary of the BTC white paper, which set the course for cryptocurrency
According to Gary Gensler, Chairman of the US SEC, in a post on X platform, he congratulated Satoshi Nakamoto on the 15th anniversary of his famous white paper, which paved the way for cryptocurrencies. Any cryptocurrency company that deceives investors should start complying with securities laws.
Bulgarian football club Botev Plovdiv FC adopts Bitcoin and Lightning Network
Bulgarian football club Botev Plovdiv FC has adopted Bitcoin and the Lightning Network, and has joined the decentralized protocol NOSTR. Fans can use Bitcoin for peer-to-peer payments at the Botev Plovdiv football club's fan shop and during matches of the Bulgarian top league, the Bulgarian Parva League. The club also plans to expand Bitcoin payment methods for ticketing and its online store.
The Bitcoin Wikipedia page was viewed 13,490 times on October 24, a new high since June 2022.
On October 31, The Block reported that the Bitcoin Wikipedia page had reached 13,490 views on October 24, setting a new high since June 2022.
Rebecca Stevens, a researcher at The Block Research, said that the increase in Bitcoin prices last week and news about the possible approval of a physical Bitcoin ETF may have stimulated the increase in page views.
It’s been 15 years since the release of the Bitcoin white paper
15 years ago, Satoshi Nakamoto published the Bitcoin white paper "Bitcoin: A Peer-to-Peer Electronic Cash System" on the P2P Foundation website, which forever changed the financial world. The Bitcoin network was officially launched on January 3, 2009, with an initial trading price of 0.0008 US dollars. Today, Bitcoin has gradually appreciated more than 43 million times since its launch.
Bitcoin Wikipedia page views jump to highest since June 2022
The pageviews of the Bitcoin Wikipedia page surged last week to the highest level since mid-2022. According to data from The Block dashboard, the pageviews of the Bitcoin Wikipedia page on October 24 reached 13,490, the highest since June 2022. The Block Research analysts stated that the increase in pageviews may have been stimulated by the good news of BTC's rise and the possibility of approval for a spot Bitcoin ETF.
Nearly 70% of Bitcoin Supply Has Not Moved in Over a Year
According to Galaxy Research data , 83% of Bitcoin's supply was last transferred when the price was lower than it is now, and nearly 70% of the supply has not been transferred for over a year.
Bitcoin mining difficulty increased by 2.35% to 62.46T, continuing to hit a record high
On October 30th, according to Mempool data, Bitcoin experienced a mining difficulty adjustment at 11:53 today (block height 814,464), with mining difficulty increasing by 2.34% to 62.46T, reaching a new historical high.
1517 BTC were transferred from Bybit address
According to Whale Alert data, 1517 BTC (approximately $52,009,789) was transferred from a Bybit address to an unknown wallet.
The thirty-day correlation coefficient between Bitcoin and the US dollar is -0.31
According to data from Tongbuke, on October 30th, the correlation coefficient between Bitcoin and cross-asset prices is as follows:
The 30-day correlation coefficient between Bitcoin and the S&P 500 is 0.28, with a weekly cumulative decline of 0.02.
The 30-day correlation coefficient between Bitcoin and gold is -0.177, with a weekly cumulative decline of 0.003.
The 30-day correlation coefficient between Bitcoin and the US dollar is -0.31, with a weekly cumulative decline of 0.13.
Note: 1. A positive correlation coefficient value indicates a positive correlation; a negative value indicates a negative correlation. 2. A correlation coefficient value ≤ 0.5 indicates a low degree of correlation; 0.5 to 0.8 indicates a significant correlation; ≥ 0.8 indicates a high degree of correlation.
Pro-BTC El Salvador President Nayib Bukele launches re-election campaign
Nayib Bukele, a Bitcoin advocate and the president of El Salvador, received strong public support after being officially nominated for re-election by his party on October 26th. He has now submitted paperwork to run for president again in the country's upcoming 2024 elections in February. Bukele stated that we need five more years to continue improving our country.
The Bitcoin Volatility Index rose to 56.66 yesterday, a daily increase of 6.52%
On October 30th, the BitVol (Bitcoin Volatility) Index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, rose to 56.66, with a daily increase of 6.52%.
Michael Saylor: No asset can compare to Bitcoin
Michael Saylor, the founder of MicroStrategy, stated in a recent article discussing Bitcoin's dominance that when people examine the cumulative returns brought by Bitcoin, its outstanding performance becomes apparent. In a total asset return table shared by Saylor, Bitcoin's return rate reached an astonishing 1,120,785% from 2011 to 2023, equivalent to an annualized return rate of 147.5%, a staggering number. Compared to traditional asset classes such as the US Nasdaq 100 Index or US large-cap stocks, these numbers are impressive, as both assets, while performing strongly themselves, fall far behind Bitcoin's return rate. According to the shared data, the US Nasdaq 100 Index has risen 613% since 2011, while US large-cap stocks have risen 315%.
Bitcoin whales have purchased more than 30,000 BTC in the past 5 days
Bitcoin News claimed on social media that a Bitcoin whale has purchased over 30,000 BTC (worth $1 billion) in the past 5 days.
S&P 500 down more than 10% from July 31 peak as gold and Bitcoin rally
Due to concerns about an impending recession in the US economy, the S&P 500 index, a major US stock market index, has fallen more than 10% from its peak of 4,577 points on July 31st. The Dow Jones Industrial Average fell 1.7% in the last week of October 2023, slightly below 32,420 points. This week, the 10-year US Treasury yield broke the 5% mark for the first time since 2007.
In addition, more and more investors seem to be turning to gold as a "safe haven" for US Treasury bonds. The commodity rose to $2,000 per ounce for the first time since May, and Bitcoin broke the $35,000 mark for the first time since March 2022.
Economists warn that the rise in US Treasury yields will eventually make them more attractive than stocks. When this happens, it will stimulate capital to flow from stocks to US Treasury bonds, leading to a lack of important investment funds for businesses and contributing to higher borrowing costs.
The Bitcoin Volatility Index fell to 53.19 yesterday, a daily decrease of 2.44%
On October 29th, the BitVol (Bitcoin volatility) index, launched by financial index company T3 Index in partnership with Bitcoin options trading platform LedgerX, dropped to 53.19, a daily decrease of 2.44%.
Note: The BitVol index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility refers to the volatility implied by actual option prices. It is the volatility derived by using the B-S option pricing formula and inputting the actual option price and other parameters except for the volatility σ into the formula.
The actual price of an option is formed by competition among many option traders, so implied volatility represents the market participants' views and expectations of the future market, thus being viewed as the closest to the actual volatility at that time.
