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There are now more than 17.5 million Bitcoin wallets underwater with little faith in a rebound coming from analysts in the face of a surging dollar. Bitcoin (BTC) hodlers are feeling the squeeze this week as repeated tests of lower levels spark increasing losses. Data from on-chain analytics firm Glassnode shows more wallets are in the red as of Aug. 23 than at any time in the past month. Over 17.5 million wallets in the red BTC/USD has seen five trips below $21,000 since the end of Aug. 19, data from Cointelegraph Markets Pro and TradingView shows, and the quest for support is already making plenty of traders nervous. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Meanwhile, those who bought in in recent weeks are underwater to varying degrees, as Bitcoin is at its lowest since the last week of July. The extent to which investors added or created positions on the way to this month’s $25,200 highs is now becoming clearer — more BTC addresses are at an overall loss than at...

October turned the tables in 2021 as the markets rallied hard making leading cryptos gear up to their all-time highs. October and November 2021 attracted heavy bullish sentiments and the crypto markets reached their peak during this period. However, a year later now in October 2022, investors&rsquo ; mood is dampened due to the harsh and ongoing bear markets. Leading crypto s are down for nine months straight with no signs of returning to normalcy. However, the crypto markets are still lucrative as favorite coins are now down nearly to their two-year lows. Also Read: How Many Days Did Bitcoin Take to Get Its First Use-Case? Top 3 Cryptos to Watch Out For in October 2022 1. Bitcoin (BTC) Source: usa.kaspersky.com Bitcoin is currently hovering around the $19,500 mark and despite being down this year, BTC remains not out. The king crypto is known for its volatility and it can swing both ways proportionally in the indices. BTC is fluctuating between $18,000 to $24,500 f...

The crypto markets did witness some form of an “Uptober” towards the end of last month. However, Arcane Research pointed out that Bitcoin (BTC), the original crypto, grew by only 5.89%. The Bitcoin spot market in October was supported by higher volume and less volatility, while also gaining from a short squeeze that gave the market a small boost. Although the short squeeze provided a much-needed push, it did little to substantially change BTC’s price. The last week of October had the most cryptocurrency short sales since July 26, 2021, according to Arcane Research. The 30-day volatility index is at a two-year low, and BTC spot volume has increased by 46% over the past seven days. Additionally, compared to the yearly average of 3%, the seven-day volatility index is currently lying at 2.2%. Source: Arcane Research Cryptoquant co-founder and CEO, Ki Young Ju, noted that Bitcoin’s (BTC) spot trading volume to derivative has reached a two -year high . Ju ...

Join Our Telegram channel to stay up to date on breaking news coverage The Biden Administration called for a dramatic expansion in the federal government’s ability to seize and keep cryptocurrency in a 61-page recent report by the US Attorney General. If passed, the proposed changes would strengthen both criminal forfeiture, which requires a conviction to permanently confiscate property, and civil forfeiture, which does not require a conviction or even the filing of criminal charges. Notably, the release of the report coincided with the announcement of a new Digital Asset Coordinator Network. More than 150 federal prosecutors will be trained on “drafting civil and criminal forfeiture actions” as part of this nationwide network. Because crypto is pseudonymous, it is sometimes assumed to be immune to government confiscation. The reality, however, is quite different. Last year, the United States Marshals Service—the custodians of Justice Department seizures...

In a recent interview with The Big Whale, FTX Chief Sam Bankman-Fried (SBF) revealed that the popular exchange is working on creating a new stablecoin. Terra’s USTC algorithmic stablecoin was at the heart of the summer 2022 crypto market crash. Ever since regulatory bodies around the world have taken an increased interest in the space. Many agencies are tirelessly trying to bring stablecoins into their fold. JUST IN: FTX CEO Sam Bankman-Fried says the exchange is developing its own stablecoin. — Watcher.Guru (@WatcherGuru) October 27, 2022 FTX seemed to be following the steps of a fellow exchange, Binance. Binance launched its BUSD stablecoin pegged to the dollar in 2019. In its three short years, BUSD has attained a market cap of $20 billion. The other big stablecoin in the market is Tether’s USDT. USDT is the most widely used stablecoin and has the third largest market cap, behind Bitcoin (BTC) and Ethereum (ETH). Thus, given the success some stablecoin issuer...

A crypto rewards platform called Freeway.io has notified users that it decided to reallocate capital in order to “manage exposure to future market fluctuations and volatility.” In doing so, users are unable to withdraw funds from the platform, and the Freeway team explained that amid the reallocation process, the team could not comment further. Crypto Rewards Platform Freeway.io Pauses Withdrawals, Project Accused of Being a Ponzi Scheme The crypto community is dealing with another rewards platform that has decided to halt withdrawals amid a decision to reallocate funds. On October 23, the crypto rewards company Freeway.io, formally called Aubit, published a notice to customers that claims foreign exchange (FX) and crypto markets were experiencing “unprecedented volatility.” In order to protect itself from wild fluctuations , it decided to reallocate the company’s funds in order to ensure “the long term sustainability and profitability of the Freeway Ecosystem.” Freeway.io’s ...

Join Our Telegram channel to stay up to date on breaking news coverage The Financial Stability Board is an international body created by the G20, which has laid out its set of advice and suggestions for crypto regulation worldwide. In its recent set of statements released around 4 days ago, the Financial Stability Board has stated how most stablecoins are not compliant with FSB’s recommendations for maintaining financial stability. This report comes after another 2020 report that involved 10 high-level recommendations.  It featured the regulation, supervision, and oversight of the so-called global stablecoin situation. Coming to 2022, the advisory body aims to understand their previously published recommendations and figure out the gaps found in the existing framework, with respect to current policies . Let us know what high-level recommendations FSB has in mind and what it means for the crypto industry’s future. What Does The FSB’s Report Involve? Th...

The deadly conflict that started with Russia’s assault on Ukraine has increased crypto-related activity in both countries, according to Chainalysis. Fiat inflation and sanctions pressure led to several spikes in transaction volumes this year, the blockchain forensics firm has found, while Eastern Europe as a whole sustained its role in the global crypto ecosystem. Russians and Ukrainians Turn to Crypto Amid Consequences of Escalating Military Clash The Russian invasion of Ukraine and ensuing military conflict that’s currently escalating have affected all aspects of life in the two nations, and cryptocurrency is no exception, Chainalysis said in an excerpt from its upcoming 2022 Geography of Cryptocurrency Report. Citizens of both countries have felt the war’s economic impact and experienced high inflation. Shortly after the hostilities began in late February, Russian and Ukrainian cryptocurrency transfers saw an increase. In the following weeks and months trends diverged, and while ...

Bitcoin, the world’s leading cryptocurrency is hovering around the $19,400 mark on Monday. The king crypto briefly crossed $20,000 last week before falling to the $19K levels again. BTC is facing stiff resistance at $24,900 and is repeatedly being rejected at these levels since August 2022. The crypto is currently unable to push its value above the $20,000 mark and it is mostly trading sideways in October. Also Read: Bitcoin dominance at 2018 support level: Recovery finally? Bitcoin Latest News Today Source: Wallpaperflare.com The progress toward the next Bitcoin halving currently surpassed 60% on Sunday. As per estimates, the complete BTC halving might occur during the second half of 2023. However, many other statistics estimate that the Bitcoin halving might complete only in 2024 and not in 2023. Source: buybitcoinworldwide.com You can read more details about Bitcoin halving hashrate here for a better understanding. BTC Price Prediction The S&P 500 index is...

Bitcoin climbed above the $20,000 level on Wednesday but it may not remain there for long as BTC is repeatedly being rejected at these levels. BTC has been hovering between $18K to $20K for close to a month and could repeat the feat in October. Veteran trader Gareth Soloway who’s been in the stock markets for two decades believes Bitcoin’s troubles are yet to begin. Soloway has given out a doomsday price prediction for Bitcoin that could make investors feel the jitters. If Soloway’s Bitcoin price prediction turns true in the future, the crypto markets would be in the worst possible condition ever recorded. The markets could be turned upside down leaving investors high and dry with nowhere to go. Also Read: Shiba Inu: Will Shibarium Burn 100 Trillion Tokens? Shytoshi Responds Bitcoin Doomsday Price Prediction Source: Twitter Financial analyst Gareth Soloway predicted in a recent interview that the worst-case scenario for Bitcoin would be plummeting to $3.50...

Bitcoin climbed above the $20,000 level on Wednesday but it may not remain there for long as BTC is repeatedly being rejected at these levels. BTC has been hovering between $18K to $20K for close to a month and could repeat the feat in October. Veteran trader Gareth Soloway who’s been in the stock markets for two decades believes Bitcoin’s troubles are yet to begin. Soloway has given out a doomsday price prediction for Bitcoin that could make investors feel the jitters. If Soloway’s Bitcoin price prediction turns true in the future, the crypto markets would be in the worst possible condition ever recorded. The markets could be turned upside down leaving investors high and dry with nowhere to go. Also Read: Shiba Inu: Will Shibarium Burn 100 Trillion Tokens? Shytoshi Responds Bitcoin Doomsday Price Prediction Source: Twitter Financial analyst Gareth Soloway predicted in a recent interview that the worst-case scenario for Bitcoin would be plummeting to $3.50...