It’s been a very positive week for the cryptocurrency market. The total capitalization managed to add around $140 billion and is currently more than $2.4 trillion. This comes on the back of impressive performances from many coins, but let’s start with Bitcoin.
BTC is currently attempting to push above $66K, a price it hasn’t seen since early August. The past seven days weren’t without volatility, but, at the end of the day, the bulls prevailed and are currently in control. It’s interesting to see if they will be able to maintain this pressure, but given that the presidential elections in the US are approaching, the market is sure to be volatile.
On that note, Donald Trump has already shown his support for the industry and has praised Bitcoin on multiple occasions throughout the past few months. Kamala Harris was silent, but this, too, changed over the past week.
At one of her more recent speeches, Harris said that she “will recommit the nation to global leadership in the sectors that will define the next century […] remain dominant in AI and quantum computing, blockchain, and other emerging technologies.”
With that, both of the running candidates are now seemingly supporting the industry. However, it’s worth noting that neither of them did much for it during their respective terms – Trump when he was president and Harris – while she was VP.
On another note, Changpeng Zhao, who needs no introduction, was set free two days before the official date he was supposed to be released. That’s according to a recent report in Fortune. CZ is now a free man following a 4-month sentence in prison. Bullish!
Interestingly enough, though, Bitcoin is definitely not the best performer over the past seven days. That title belongs to SHIB. The dog-inspired meme coin exploded by a massive 40% during the period, following the revival of the majority of meme coins.
It’s very interesting to see if the ongoing positive momentum will remain or if the bears have prepared a surprise.
Market Data
Market Cap: $2.412T | 24H Vol: $115B | BTC Dominance: 53.8%
BTC: $65,682 (+3.3%) | ETH: $2,654 (+4.2%) | BNB: $608 (+6.6%)
This Week’s Crypto Headlines You Better Not Miss
Former Binance Boss Changpeng Zhao to Be Released Early: Report. Changpeng Zhao was supposed to be released from prison on September 29th. However, according to some reports, he has been set free today.
Gary Gensler Lambasted as Most ‘Historically Destructive and Lawless’ SEC Chair. The pro-crypto Republican representative Tom Emmer lambasted the chairman of the US Securities and Exchange Commission – Gary Gensler. He said that Gensler has been the most “historically destructive and lawless” SEC chair.
BlackRock Sees Highest Monthly ETF Inflow as US Bitcoin Holdings Climb. Bitcoin holdings in the United States are on the rise. This appears to be primarily driven by demand for spot BTC exchange-traded funds. That said, BlackRock saw the highest monthly ETF inflow so far.
From Silence to Support: Kamala Harris Advocates for Blockchain in Latest Speech. The current US Vice President, Kamala Harris, who is also running for President in the upcoming elections in November, has recently endorsed blockchain technology in one of her latest speeches.
15 Years Later: Satoshi Era Wallet Moves Bitcoin Mined in Early 2009 (Data). The beauty of the blockchain is that transactions are public. That said, data shows that a Satoshi-era wallet moved Bitcoin mined as early as 2009! That’s almost 15 years of holding.
Sean ‘Diddy’ Combs Shares the Same Prison Cell With FTX’s Sam Bankman-Fried: Report. In an interesting and kind of funny twist of events, Sean ‘Diddy’ Combs has reportedly been put in the same dorm-style prison cell as Sam Bankman-Fried, the former boss of FTX.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin – click here for the complete price analysis.
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Cryptocurrency charts by TradingView.
