Despite a recent dip in Bitcoin's price due to fake news of a spot Bitcoin ETF approval, Bitcoin is still performing well compared to other cryptocurrencies. The price of Bitcoin is currently up by 1.9%, trading above $28,700, and is expected to rally further due to significant USDT accumulation by top Tether wallets.

According to BlackRock CEO Larry Fink, Bitcoin and other cryptocurrencies are now mature enough to serve as safe-haven assets during times of geopolitical turmoil. Fink believes that the recent rally in Bitcoin is a sign of pent-up interest in crypto and a flight to quality among investors. While bad news stories dominate the headlines, Fink reminds us of the world-changing potential of artificial intelligence and technology, which could create more jobs and factories in the US. Despite erroneous reports of SEC approval, Bitcoin is currently trading at $28,448.

On October 18, the crypto market saw gains in several major cryptocurrencies, indicating that investors have regained their appetite for risk. Bitcoin rose 1.01% to $28,495.60, reflecting renewed optimism among market participants. However, Ethereum and XRP prices declined, while Solana saw slight gains. The global crypto market cap was up 0.29% to $1.09 trillion, with Bitcoin's dominance rising to 51.12%. Meanwhile, Pepe Coin decreased by 5.94%, Toncoin added 9.21%, OKB gained 4.48%, and Sui Coin slumped 8.61% due to an investigation into allegedly false information.

October 18th, BitVol (Bitcoin volatility) index launched by financial index company T3 Index in partnership with Bitcoin options trading platform LedgerX rebounded to 45.67 on the previous day, with a daily increase of 7.21%. BlockBeats 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 the actual option price.

On October 18th, Wizz Wallet, a Bitcoin ecosystem wallet application, announced that a serious incident occurred in the early morning, resulting in the loss of a user's assets. The wallet, which was supposed to protect assets, transferred ATOM during a BTC transaction.

23pds, the Chief Information Security Officer of SlowMist, stated in a post that the malfunction of the Bitcoin ecological wallet application Wizz Wallet today was allegedly caused by a product bug during transfer, resulting in the burning of special tokens, which was not a hacker behavior. Earlier reports stated that the malfunction of Wizz Wallet resulted in the theft of user assets.

Darewise Entertainment has completed a $3.5 million funding round through a presale of its upcoming token launch on Bitcoin. The funds will be used to accelerate the development of the Bitcoin Metaverse Ecosystem, which will include in-game assets and virtual lands. The presale was backed by notable web3 venture capital firms, including Gamefi Ventures, London Real Ventures, Citizen Capital, Blocore, Animoca Ventures, and the Animoca Brands co-founder and executive chairman Yat Siu. The new token will be adopted by Darewise Entertainment's upcoming "AAA" MMO game Life Beyond and is planned for release in early 2024.

Bitcoin mining company Sazmining has opened a new facility in Paraguay that will run on 100% renewable energy from the Itaipu Dam. The facility will operate customer-owned Bitcoin mining rigs on their behalf, with Sazmining taking a 15% commission for the service. The cost of energy is an important consideration for Bitcoin mining companies, and Sazmining's new facility will have mining costs of $0.047 per-kilowatt hour, substantially lower than in the United States. While Paraguay's hash rate production is currently only 0.15% of the entire Bitcoin mining network, Sazmining's President sees it as an opportunity for growth.

Bitcoin's price briefly surged towards $30k on Monday due to heightened volatility caused by a piece of fake news claiming that the SEC had approved BlackRock's spot Bitcoin ETF. However, the news was quickly debunked, and the price has since stabilized around $28.2k. The incident resulted in over $111 million being liquidated from the Bitcoin market in the past 24 hours, causing damage to leverage traders. Despite this, crypto traders are eagerly awaiting a spot ETF approval in the United States, which could open up new investment opportunities for institutional investors.

A trader who accurately predicted the bottom of Bitcoin's 2018 bear market is warning that the cryptocurrency could experience a pullback of over 20%. The analyst, known as Bluntz, believes that Bitcoin's recent rally is part of an ABC corrective move and could drop to $22,376. Bluntz uses the Elliott Wave theory in his technical analysis to predict future price action. Bitcoin briefly surged above $30,000 on Monday but has since retraced and is currently trading at $28,478.