<ul>
	<li>Solana, Worldcoin, Bittensor and other crypto projects are set to unlock tokens worth more than $400 million this week.&nbsp;</li>
	<li>Murasaki unlocks over 33% of its circulating supply, ApeX over 19% and Metars Genesis nearly 12%.&nbsp;</li>
	<li>Other notable crypto projects with token unlocks include Avalanche, Sei, Near Protocol, Dogecoin, Polkadot, Sui, and Filecoin.&nbsp;</li>
</ul>

<a href="https://www.fxstreet.com/cryptocurrencies/news/solana-price-forecast-sol-gains-2-as-community-discusses-firedancer-validator-for-better-performance-202410181101" target="_blank">Solana (SOL)</a>, <a href="https://www.fxstreet.com/cryptocurrencies/news/crypto-today-bitcoin-ethereum-and-xrp-steady-above-major-support-levels-worldcoin-leads-ai-token-gains-202409271315" target="_blank">Worldcoin (WLD)</a> and <a href="https://www.fxstreet.com/cryptocurrencies/news/bittensor-reveals-cause-of-network-breach-tao-price-suffers-202407042057" target="_blank">Bittensor (TAO)</a> lead among those crypto projects set to unlock millions of dollars worth of coins this week. Data from token unlock tracker Tokenomist.ai shows several projects are lined up to unlock over $400 million in cryptocurrencies.&nbsp;

Crypto token unlocks release coins that were previously out of circulation.Therefore, these events can contribute to selling pressure on exchanges and negatively impact prices once released as they increase the coin’s supply levels.&nbsp;

Traders need to keep an eye on the prices of Murasaki (MURA), ApeX (APEX) and Metars Genesis (MRS), as these three projects will unlock the largest percentage of their circulating supply.&nbsp;

<h2 class="fxs_headline_medium">These projects are set to unlock large volume of crypto tokens</h2>

Solana unlocks 524,030 SOL tokens, worth $88.46 million; Worldcoin 37.23 million WLD tokens, worth $88.23 million; and Bittensor will release 504,000 TAO tokens worth $29.56 million.&nbsp;

Other key unlocks include 10 million MRS, 37.06 million Cardano (ADA), 12.86 million Ethena (ENA), 700,000 Avalanche (AVAX), 35.20 million SEI, 2.97 million Near Protocol (NEAR), 94.47 million Dogecoin (DOGE), 2.81 million Polkadot (DOT), and 2.24 million Filecoin (FIL).&nbsp;

<a href="https://editorial.fxstreet.com/miscelaneous/GaY6OBDaQAAbV64-638650982578156292.jpeg" target="_blank"><img alt="Token" src="https://editorial.fxstreet.com/miscelaneous/GaY6OBDaQAAbV64-638650982578156292.jpeg" style="width: 950px; height: 1031px;"></a>

Token unlocks this week&nbsp;

<h2 class="fxs_headline_medium">MURA, APEX, MRS unlock largest percentage of circulating supply</h2>

MURA, APEX and MRS unlock 33.27%, 19.39% and 11.87% of their circulating supply, respectively. Typically, when token unlock accounts for over 1% of the crypto’s circulating supply, it is likely to negatively impact price.&nbsp;

Therefore, Traders need to watch these three assets for higher volatility <a href="https://www.fxstreet.com/economic-calendar" data-fxs-autoanchor="">this week</a>.&nbsp;

While an increase in a cryptocurrency’s circulating supply is typically bearish, planned unlock schedules may have less of an impact since the community of traders anticipates the unlock and likely positions themselves accordingly.&nbsp;

Crypto tokens unlock over $400 million in coins this week: Solana, Worldcoin, Bittensor among top 3

In a recent conference held in Singapore, Vitalik Buterin, co-founder of the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) blockchain, expressed his positive outlook on the future of cryptocurrencies, despite recent industry challenges. 



What Happened: Buterin highlighted the importance of the &#8220;baptisms of fire&#8221; that the crypto industry has undergone, in an <a href="https://asia.nikkei.com/Spotlight/Cryptocurrencies/Ethereum-s-Buterin-sees-bright-crypto-future-after-baptism-of-fire">interview</a> with Nikkei Asia published on Monday, which has exposed its weaknesses and spurred necessary improvements.



He cited the collapse of FTX as a prominent example of the dangers linked to centralized platforms. The downfall of FTX, under the leadership of Sam Bankman-Fried, revealed vulnerabilities in centralized exchanges, according to Buterin. He advocates for technological advancements, such as multi-signature wallets, to bolster security.



Apart from FTX, the fall of big cryptocurrency hedge funds such as Three Arrows Capital, Voyager Digital created further upheavals in the sector.



&#8220;It [crypto] has actually gone through many baptisms of fire,&#8221; said Buterin. 



&#8220;Now, decentralized exchanges exist, right, and &#8230; the average person uses them and &#8230; that&#8217;s a big improvement that&#8217;s already happened &#8212; but it takes time, right, like technology always takes time.&#8221;



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41411471/dogecoin-killer-shiba-inu-is-the-obvious-catch-up-play-for-those-who-missed-doge-rally-tra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Is The &#8216;Obvious Catch Up Play&#8217; For Those Who Missed DOGE Rally, Trader Touts</a>



Why It Matters: The cryptocurrency market has been experiencing a resurgence, with leading digital currencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum showing bullish momentum. In October, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420178/bitcoin-ethereum-dogecoin-on-the-rise-as-uptober-may-be-finally-here-analysts-predict-bull">Bitcoin surged past $69,000</a>, a level not seen since June, while Ethereum reached $2,750, marking its highest point since August. This rise in value has fueled expectations for new all-time highs.



Additionally, projections from Standard Chartered suggest a <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41237292/bitcoin-ethereum-solana-projected-to-surge-by-2025-regardless-of-election-outcome-report">potential surge in the value</a> of Bitcoin, Ethereum, and Solana by 2025, regardless of political outcomes in the U.S. These predictions highlight the growing confidence in the long-term potential of cryptocurrencies, aligning with Buterin&#8217;s optimistic vision for the future of the crypto industry.



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41410605/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-meme-crypto-heres-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $100 In Dogecoin When Elon Musk First Tweeted About The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>



Photo by Alexey Smyshlyaev on Shutterstock.



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Ethereum Co-Founder Vitalik Buterin Says 'Baptisms Of Fire' In Cryptocurrency Will Catalyze Growth For Bitcoin And Other Digital Assets

Jamie Dimon, the CEO of JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), has not shied away from exhibiting his disdain for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and has used public platforms to target the leading cryptocurrency over the years.



What happened: One of many such attacks came at the Institute of International Finance <a href="https://www.bloomberg.com/news/videos/2021-10-11/jpmorgan-s-jamie-dimon-calls-bitcoin-worthless">event</a> (IIF) in October 2021, during which Dimon questioned the very foundations of Bitcoin technology — its hard cap of 21 million.



"I&#8217;ll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don&#8217;t know, I&#8217;ve always been a skeptic of stuff like that," Dimon said.



The brazen attack riled up the cryptocurrency community on social platforms, though many still tried to address his grievances.



Well-known Bitcoin technologist Jameson Lopp posted a screenshot from Bitcoin source code on X, with the caption, "Bruh it&#8217;s like 5 lines of code."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bruh it&#39;s like 5 lines of code. <a href="https://t.co/DWxPHFsgJs">https://t.co/DWxPHFsgJs</a> <a href="https://t.co/ssripW7tVy">pic.twitter.com/ssripW7tVy</a>&mdash; Jameson Lopp (@lopp) <a href="https://twitter.com/lopp/status/1561238755427614720?ref_src=twsrc%5Etfw">August 21, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



It's worth mentioning that the code doesn't explicitly mention the hard cap. Rather, it is derived by summing all coins the code allows to be brought into circulation over time.



However, even factual responses appeared to have little effect, as Dimon <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36658859/jpmorgan-ceo-jamie-dimon-says-satashi-may-erase-bitcoin-supply-limit-backs-tokenizing-thin">repeated his concerns</a> about the supply limit earlier in January.



&#8220;I think there&#8217;s a good chance, when we get to that 20 million Bitcoins&#8230; Satashi [sic] is going to come on there, laugh hysterically, go quiet, and all Bitcoins [are] going to be erased. How the hell [do] you know it's going to stop at 21?&#8221;



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41373332/donald-trump-backed-world-liberty-financial-off-to-a-slow-start-raises-just-4-of-the-token">Donald Trump-Backed World Liberty Financial Off To A Slow Start — Raises Just 4% Of The Token Fundraising Target</a>



Why It Matters: Dimon&#8217;s criticism of Bitcoin has continued unabated, and he went <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36118823/jp-morgan-ceo-calls-for-a-shut-down-of-bitcoin-and-the-crypto-industry-heres-how-social-me">so far as to ask for a shutdown of the industry</a> during a Congressional testimony in December last year.



He has expressed his displeasure about having to discuss anything about Bitcoin, with an emphatic, &#8220;I don&#8217;t care&#8221; remark at the aforementioned IIF event.



Interestingly, JPMorgan reported holding $42,000 worth of shares of Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>), according to the latest 13F <a href="https://www.sec.gov/Archives/edgar/data/19617/000001961724000501/0000019617-24-000501-index.htm">filing</a> with the SEC.



Price Action: At the time of writing, Bitcoin was exchanging hands at $68,612.40, up 0.34% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;Shares of JPMorgan closed 0.45% lower at $225.43 on Friday.



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Photo courtesy: Flickr

JPMorgan Boss Jamie Dimon Doubts Bitcoin's 21M Supply Cap Despite 5 Lines In Source Code Imposing The Hard Limit: 'You Guys All Believe That?'

ApeCoin surged more than 70% following the launch of ApeChain

Property tokenization was gaining traction among cryptocurrency enthusiasts as a novel way to real estate investment, as the broader narrative of putting real-world assets on blockchain rails gathers steam.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21022746/image-172-1024x585.png" alt="" class="wp-image-604445" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21022746/image-172-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21022746/image-172-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21022746/image-172-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21022746/image-172-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21022746/image-172.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



What Happened: The <a href="https://www.globalpropertyguide.com/most-expensive-cities">high </a>property prices in major cities like London and New York have made direct property investment increasingly unaffordable, paving the way for tokenized real estate as a viable alternative, according to a Financial Times <a href="https://www.ft.com/content/cf036ebf-6f4e-474f-a1ef-ca7179b712b0">report</a>.



Unlike real estate investment trusts (REITs) that own or finance large clusters of commercial and residential buildings, tokenized real estate allows for small-scale investment in individual properties.



In property tokenization, assets such as houses or hotels are divided into digital tokens that signify ownership. These tokens, which contain details like the asset&#8217;s ownership history and regulatory information, are stored on a blockchain, serving as a digital ledger.



When a real estate asset is fractionalized during tokenization, its liquidity increases. So instead of selling the entire property at once, owners of tokenized sections can sell their tokens fast, resulting in a swift change of ownership.



Additionally, due to blockchain technology, the market remains open 24&#215;7 and with comparatively higher levels of transparency.



It's really the question of convenience because the asset becomes liquid, it becomes tradable 24/7, and a global pool of investors have access to it." Max Dilendorf, a New York-based digital assets lawyer, told FT. 



According to Prophecy Market Insights, the real estate tokenization market was valued at $3.8 billion in 2024 and is <a href="https://www.prophecymarketinsights.com/market_insight/Global-Real-Estate-Tokenization-Market-4857">expected </a>to reach $26 billion by 2034 with a compound annual growth rate (CAGR) of 2.90%.



Some of the biggest players in the industry as of this writing were Lofty, RealT, and HouseBit.



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a>



Why It Matters: The rise of property tokenization was part of a larger narrative of real-world asset (RWA) tokenization that has emerged as the hottest cryptocurrency trend this year. 



The world&#8217;s largest asset manager, BlackRock entered the sector with the introduction of its <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39863203/blackrocks-buidl-tokenization-fund-hits-500m-in-assets-under-management">tokenized U.S. Treasury product</a>, BUIDL, built atop Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), earlier this year. The fund <a href="https://app.rwa.xyz/assets/BUIDL">boasted</a> of a market valuation of over $550 million as of this writing, according to Rwa.xyz, a platform that tracks the tokenized asset market.



Anthony Moro, CEO of Provenance Blockchain Labs and a known industry expert, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41330879/tokenization-on-track-to-reach-trillion-dollar-market-by-2030-says-industry-expert">predicted tokenization to become a trillion-dollar market by 2030.</a>



Image generated with DALL_E 3



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Expensive Real Estate Putting You Off From Investing? Blockchain-Backed Property Tokenization Could Be An Alternative — What You Should Know

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) investors were suddenly waking up after years of dormancy to move around their stash as the leading cryptocurrency gathers upward momentum toward all-time highs.



What Happened: On-chain analytics firm Whale Alert reported that a Bitcoin address, dormant for roughly 11 years, transferred 21.87 BTC to another address Sunday overnight. 



The stash was worth $16,252 when it last moved in 2013, Whale Alert added. As of this writing, the total value of the holdings was around $1.5 million, indicating a massive 9159% return. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4a4; A dormant address containing 21 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> (1,516,136 USD) has just been activated after 10.9 years (worth 16,252 USD in 2013)!<a href="https://t.co/nraQNaK8Ho">https://t.co/nraQNaK8Ho</a>&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1848160593011789866?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Similarly, a Satoshi-era whale transferred 20 BTCs to another wallet a little earlier in the day, which at the time of the transfer netted 411596% in return.



"Satoshi Era" is a popular term in cryptocurrency parlance, referring to the phase from 2009 to 2011, when Nakamoto was actively working and promoting the project.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4a4; A dormant address containing 20 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> (1,370,949 USD) has just been activated after 13.4 years (worth 333 USD in 2011)!<a href="https://t.co/kVjmSgEdlf">https://t.co/kVjmSgEdlf</a>&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1848027361616277642?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41406816/dogecoin-sets-the-stage-but-ai-meme-coin-goat-steals-the-show-ripping-from-zero-to-400-mil">Dogecoin Sets The Stage, But AI Meme Coin GOAT Steals The Show, Ripping From Zero To $400 Million In 1 Week</a>



Why It Matters: The movement of <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41223923/bitcoin-market-buzzes-as-satoshi-era-whale-shifts-another-634k-to-crypto-exchange">such old Bitcoins has picked up pace</a> this month. It wasn&#8217;t immediately clear whether the transfer was meant to sell and lock in profits.



The movements of Bitcoin whales, especially those from the Satoshi era, are closely watched by the cryptocurrency community. These whales hold a significant amount of Bitcoin, and their transactions can potentially impact the market.



According to blockchain research firm CryptoQuant, whale inflows to exchanges <a href="https://cryptoquant.com/asset/btc/chart/flow-indicator/exchange-whale-ratio?exchange=all_exchange&amp;window=DAY&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line">lifted</a> significantly last week, sparling fears of sell-offs. 



Bitcoin, the world&#8217;s largest cryptocurrency, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420178/bitcoin-ethereum-dogecoin-on-the-rise-as-uptober-may-be-finally-here-analysts-predict-bull">surged above $69,000 late Sunday evening</a>, the first occurrence since early June. The coin gained over 7% in the last week, with top cryptocurrency analysts projecting a swift return to its all-time highs.



Price Action: At the time of writing, Bitcoin was exchanging hands at 68,773.18, up 0.73% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41410605/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-meme-crypto-heres-h">If You Invested $100 In Dogecoin When Elon Musk First Tweeted About The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Today</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Quiet Bitcoin Whales, Sitting On A Windfall, Spring Back To Activity — Price Retrace Imminent?

Brian Armstrong, CEO of cryptocurrency exchange Coinbase, has publicly endorsed GOP nominee David McCormick for the Pennsylvania senate seat, citing his friendlier stance on cryptocurrency.



What Happened: Armstrong took to X Sunday to back the Senate hopeful. &#8220;If you live in Pennsylvania, you should vote for Dave McCormick. He is the better candidate on crypto (among many other credentials),&#8221; Armstrong wrote.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you live in Pennsylvania you should vote for <a href="https://twitter.com/DaveMcCormickPA?ref_src=twsrc%5Etfw">@DaveMcCormickPA</a> He is the better candidate on crypto (among many other credentials) <a href="https://t.co/BMFIVwB8NO">https://t.co/BMFIVwB8NO</a>&mdash; Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1848082903348965422?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41397551/riding-dogecoins-wave-indicators-point-to-what-could-happen-next?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Riding Dogecoin&#8217;s Wave: Indicators Point To What Could Happen Next</a>



The former CEO of Bridgewater Associates <a href="https://www.benzinga.com/government/23/09/34807903/he-ran-bridgewater-associates-now-hes-running-for-senate-in-pennsylvania-again">announced his candidacy last year</a>, aiming to unseat three-time incumbent Democratic Sen. Bob Casey Jr.



A U.S. Army veteran and former Treasury Department official, McCormick has publicly expressed his pro-cryptocurrency stance. He stated that American <a href="https://www.davemccormickpa.com/2024/03/26/america-must-lead-on-cryptocurrency/">leadership </a>in blockchain and cryptocurrency is important to the country&#8217;s economic and national security.



Interestingly, in May earlier this year, his <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38888214/reddit-co-founder-alexis-ohanian-highlights-democrats-including-chuck-schumer-who-crossed-">rival Casey crossed the party line to support a resolution</a> against the SEC&#8217;s anti-cryptocurrency SAB121. On the other hand, he cosponsored the Digital Asset Anti-Money Laundering Act of 2023, brought forward by anti-cryptocurrency crusader Sen. Elizabeth Warren (D-Mass.)



According to the cryptocurrency-based prediction market Polymarket, Donald Trump&nbsp;had a 57% chance, against Kamala Harris&#8217; 43%, of <a href="https://polymarket.com/event/pennsylvania-presidential-election-winner">winning </a>the popular vote in the key swing state. 



Why It Matters: Armstrong&#8217;s endorsement of McCormick was significant, given his position as the head of one of the world&#8217;s largest digital asset trading platforms. 



The cryptocurrency mogul had previously said that cryptocurrency is a non-partisan issue, with advocates from both sides of the political spectrum <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40123413/coinbase-ceo-brian-armstrong-was-asked-if-another-democratic-administration-would-prove-di">championing its cause</a>.



The company <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40699678/trump-campaign-more-explicit-in-embracing-crypto-says-coinbases-legal-head-but-encouraged-">revealed earlier this year</a> it was engaging with both the&nbsp;Trump&nbsp;campaign and the&nbsp;Harris&nbsp;campaign to push for regulatory clarity for the industry.



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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Coinbase CEO Brian Armstrong Supports Republican Dave Mccormick For Pennsylvania Senate Seat: 'He Is The Better Candidate On Crypto'

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Could BTC reach its ATH of $73,777?

A well-known cryptocurrency analyst issued a bullish prediction for Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), coinciding with a significant jump in the token&#8217;s burn rate over the last 24 hours. 



What Happened: On Sunday, widely followed X personality Kevin observed a &#8220;rounding bottom formation with an inverse head-and-shoulders&#8221; pattern for the popular dog-themed meme coin, prompting a massive 50% price increase projection.



For those unaware, inverse head-and-shoulders is a key chart pattern that signals a potential shift from a bearish to a bullish trend.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw">#ShibaInu</a> has formed a very nice rounding bottom formation with a inverse head n shoulders. Price target is 50% higher from here at the macro golden pocket and .703 Fib. <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://t.co/TfDys7imBT">pic.twitter.com/TfDys7imBT</a>&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1848111840213225502?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Additionally, Shiba Inu&#8217;s Moving Average Convergence Divergence (MACD) indicator flashed a buy signal, <a href="https://in.tradingview.com/symbols/SHIBUSD/technicals/">according </a>to data from charting platform TradingView. 



The MACD is primarily used to gauge an asset's overall trend. When the MACD line crosses above the signal line, it is interpreted as bullish.



In another development, the coin&#8217;s burn rate <a href="https://www.shibburn.com/">spiked </a>389% in the last 24 hours, with nearly 6.3 million SHIBs going up in smoke and exerting more deflationary pressure on the cryptocurrency. 



See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41415299/bitcoin-predicted-to-hit-6-figure-price-in-2025-bitwise-ceo-says-next-year-will-be-">Bitcoin Predicted To Hit 6-Figure Price In 2025, Bitwise CEO Says Next Year Will Be &#8216;Exceptional&#8217; For King Crypto</a>



Why It Matters: The second-largest meme coin by market valuation has been on a roll over the month, gaining over 32%. 



An <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41411471/dogecoin-killer-shiba-inu-is-the-obvious-catch-up-play-for-those-who-missed-doge-rally-tra">unknown whale recently withdrew</a> 105.9 billion SHIB, valued at $1.99 million, from cryptocurrency exchange Coinbase, signaling strong accumulation and anticipation for future price rises.



Kevin&#8217;s prediction aligns with the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420178/bitcoin-ethereum-dogecoin-on-the-rise-as-uptober-may-be-finally-here-analysts-predict-bull">current bullish trend</a> in the cryptocurrency market. Leading cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) have rallied sharply in recent days, boosting expectations for new all-time highs.



Price Action: At the time of writing, SHIB was exchanging hands at $0.00001897, up 1.98% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41411471/dogecoin-killer-shiba-inu-is-the-obvious-catch-up-play-for-those-who-missed-doge-rally-tra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">FBI Arrests Alabama Man Who Allegedly Hacked</a><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41415033/fbi-arrests-alabama-man-who-allegedly-hacked-secs-x-account-to-prematurely-announce-bitcoi"> SEC&#8217;s X Account To Prematurely Announce Bitcoin ETF Approval</a></li>
</ul>

Shiba Inu Ready For A Lift-Off To The Moon? Popular Analyst Predicts 50% Surge For Memecoin As Burn Rate Spikes 389%

Leading cryptocurrencies maintained bullish momentum over the weekend, boosting expectations for new all-time highs.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. EDT)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+1.26%</td><td>$69,123.24</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.79%</td><td>$2,744.10</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.96%</td><td>$0.1444</td></tr></tbody></table></figure>



What Happened: Bitcoin jumped above $69,000 late evening, a level not seen since the first week of June. The world&#8217;s largest cryptocurrency was up 8.9% in October, a month that has historically seen gains of over 21% on average.



Ethereum spiked to $2,750, the highest it has been since the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40203958/what-really-caused-bitcoin-ethereum-to-crash-analyst-has-answers">August meltdown</a>. The second-largest cryptocurrency soared nearly 12% last week.



In the past 24 hours, 56,654 traders were liquidated, with the total liquidations coming in at $134.09 million. More than $805 million in Bitcoin shorts would be wiped out if the leading cryptocurrency hits $72,000, <a href="https://www.coinglass.com/pro/futures/LiquidationMap">according </a>to Coinglass.



Bitcoin's Open Interest rose 2.87% in the last 24 hours, while money locked in Ethereum's futures market soared 8.84%, indicating bullish momentum.



Market sentiment was one of "Greed" as of this writing, according to the Cryptocurrency Fear &amp; Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. EDT)</td></tr><tr><td>Apecoin (APE)</td><td>+62.30%</td><td>$1.42</td></tr><tr><td>dYdX (DYDX)</td><td>+27.87%</td><td>$1.26</td></tr><tr><td>Mog Coin (MOG)</td><td>+11.94%</td><td>$0.00000228</td></tr></tbody></table></figure>



The global cryptocurrency stood at $2.39 trillion, following a jump of 2.20% in the last 24 hours.



Stock futures edged higher Sunday overnight. The Dow Jones Industrial Average Futures was up 53 points, or 0.13%, as of 8:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.12%, while Nasdaq 100 Futures added 0.14%.



The rise followed a lucrative week for blue-chip indexes, with the Dow Jones Industrial Average and the S&amp;P 500 closing at record highs Friday. to close at a new record high of 43,239.05. The Dow was up 2.23% since October began, while the broad-based index lifted 1.77% in the same period.



Tech titans like Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) are all set to report their earnings this week, serving as important market triggers.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Noted cryptocurrency researcher and trader Rekt Capital stated that Bitcoin would break out from the multi-month downtrend channel toward at least $70,000 if it records a weekly close above the red resistance.



With King Crypto managing to do just that, it remains to be seen whether the analyst&#8217;s prediction is correct.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin is mere hours away from a historic Weekly Candle Close If Bitcoin Weekly Closes just like this, it will kickstart the breakout process from this multi-month Downtrending Channel towards at least $70,000<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/0yCvpcqRGC">pic.twitter.com/0yCvpcqRGC</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1848086376119697595?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Widely followed cryptocurrency analyst Ali Martinez drew attention to the bullish pivot of the MVRV Momentum indicator, considered a "go-to" metric to evaluate Bitcoin's trend.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One of my go-to indicators for gauging <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&#39;s trend, the MVRV Momentum, has flipped bullish again!!! <a href="https://t.co/qOtIJgXTWe">pic.twitter.com/qOtIJgXTWe</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1848107926088785969?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Regarding Ethereum, the analyst highlighted the possibility of the coin rising to $3,300 provided the $2,660 holds.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> appears to be breaking out! As long as the $2,660 support holds, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> could rise to $3,300! <a href="https://t.co/6pfcRyyiaP">pic.twitter.com/6pfcRyyiaP</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1848005048548122997?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41372090/anthony-scaramucci-tells-what-percentage-of-his-wealth-is-tied-up-in-bitcoin-i-havent-sold">Anthony Scaramucci Tells What Percentage Of His Wealth Is Tied Up In Bitcoin: &#8216;I Haven&#8217;t Sold Any. Thank God, Knock On Wood!&#8217;</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin On The Rise As 'Uptober' May Be Finally Here: Analysts Predict Bullish Breakout For King Crypto, ETH's Rally To $3,300

This past weekend was a whirlwind of activity in the cryptocurrency world. From a man suing a city council over lost Bitcoins (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to the Coinbase CEO expressing admiration for Elon Musk&#8217;s productivity, the stories were as diverse as they were intriguing. Here&#8217;s a quick recap of the top stories that made headlines.



Bitcoin Landfill Lawsuit: James Howells, a software engineer from Wales, has filed a lawsuit against Newport City Council. Howells is seeking damages of approximately £495.31 million ($647 million) after the council repeatedly denied his requests to excavate a landfill site where he accidentally discarded a hard drive containing around 8,000 units of Bitcoin. The lawsuit is a strategy to persuade the council to allow the excavation, not a reflection of the actual situation. <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla">Read the full article here.</a>



Armstrong&#8217;s Musk Admiration: Brian Armstrong, CEO of Coinbase, expressed his admiration for Elon Musk&#8217;s efficiency and productivity. Armstrong suggested that a rigorous study should be conducted to understand how Musk achieves so much. He believes that understanding Musk&#8217;s productivity could be an important question for civilizational progress. <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306985/coinbase-ceo-brian-armstrong-wants-to-know-how-elon-musk-gets-so-much-done-wants-an-in-dep">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41410605/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-meme-crypto-heres-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $100 In Dogecoin When Elon Musk First Tweeted About The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Today</a>



Scaramucci&#8217;s Bitcoin Investment: Anthony Scaramucci, CEO of SkyBridge Capital, revealed during a podcast that he has significant investments in Bitcoin. Scaramucci shared anecdotes about his conversation with MicroStrategy CEO Michael Saylor, who had a unique perspective on Scaramucci&#8217;s recommendation of a 1-3% allocation to Bitcoin. <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41372090/anthony-scaramucci-tells-what-percentage-of-his-wealth-is-tied-up-in-bitcoin-i-havent-sold">Read the full article here.</a>



Crypto Market Predictions: Cryptocurrency markets were trading higher as of Wednesday, taking 96% of Bitcoin holders into profit. Trader Michaёl van de Poppe now predicts all-time high prices in the &#8216;next 3-4 weeks&#8217;. <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41367220/bitcoin-ethereum-dogecoin-trade-like-no-bear-market-on-the-horizon-trader-predicts-all-tim">Read the full article here.</a>



Warren vs. Deaton: Sen. Elizabeth Warren and her Republican challenger John Deaton exchanged heated words over cryptocurrencies during their first debate. Warren accused Deaton of receiving maximum funding from the big cryptocurrency lobby to win the Massachusetts seat. <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41350336/elizabeth-warren-says-rival-john-deaton-wants-to-go-to-washington-to-fight-for-his-crypto-">Read the full article here.</a>



Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41415966/benzinga-bulls-and-bears-apple-tesla-netflix-oklo-and-dogecoin-meme-coins-outpace-corporat">Benzinga Bulls And Bears: Apple, Tesla, Netflix, Oklo — And Dogecoin, Meme Coins Outpace Corporate Giants</a>



Photo courtesy: Unsplash



 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Bitcoin Landfill Lawsuit, Coinbase CEO's Musk Admiration, Anthony Scaramucci's BTC Investment And More: This Week In Crypto

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



The three major stock indices extended their winning streak to six consecutive weeks, marking the longest stretch of gains for both the Dow Jones and S&amp;P 500 this year. The Dow rose 0.96%, the S&amp;P 500 increased by 0.85%, and the Nasdaq advanced 0.80%.



Retail sales in September exceeded expectations, and a significant drop in jobless claims added to the view that the U.S. economy is still robust. This strong economic momentum has led some analysts to reassess the Federal Reserve&#8217;s future course of action, with many now questioning the likelihood of additional interest rate cuts.



However, rising Treasury yields have impacted the housing market, causing a sharp increase in mortgage rates and a corresponding drop in mortgage applications. Homebuyer demand experienced its steepest decline since April 2020, as potential buyers pulled back due <a href="https://www.benzinga.com/markets/asia/24/10/41411026/bank-earnings-propel-wall-street-to-record-peaks-oil-plunges-below-70-gold-shines-at-all-time-highs">to the higher borrowing costs.</a>



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle">Apple&#8217;s iPhone 16 Powers Record Sales In Q3, Just Behind Samsung In Global Market Share Battle</a>,&#8221; by <a href="https://www.benzinga.com/author/rounak-jain">Rounak Jain</a>, reports that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) achieved record iPhone sales in Q3 2024, securing 18% global market share, just behind Samsung Electronics Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), as the global smartphone market grows by 5% year-over-year.



&#8220;<a href="https://www.benzinga.com/news/24/10/41321236/sam-altmans-oklo-jumps-on-google-nuclear-deal-whats-going-on">Sam Altman&#8217;s Oklo Jumps On Google Nuclear Deal: What&#8217;s Going On?</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports on Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) shares rising after Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) announced plans to use nuclear energy, with speculation that Sam Altman&#8216;s connections may position Oklo for future deals with tech giants.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41374086/dogecoin-shiba-inu-pepe-may-have-overtaken-these-nasdaq-listed-companies-toward-billion-do">Dogecoin, Shiba Inu, Pepe May Have Overtaken These Nasdaq-Listed Companies Toward Billion-Dollar Valuations, But There&#8217;s A Catch</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reports on how meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), and Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) reached billion-dollar valuations faster than traditional companies like Nutanix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) and Nice Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NICE#NASDAQ">NICE</a>).



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406623/netflix-should-continue-to-outperform-6-analysts-on-streaming-stocks-q3-earnings">Netflix &#8216;Should Continue To Outperform&#8217;: 6 Analysts On Streaming Stock&#8217;s Q3 Earnings</a>



<a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41342499/unlikely-s-p-500-stock-leaves-nvidia-behind-with-241-gain-in-2024">Unlikely S&amp;P 500 Stock Leaves Nvidia Behind With 241% Gain In 2024</a>



<a href="https://www.benzinga.com/markets/equities/24/10/41364980/russell-2000-poised-for-major-technical-breakout-analyst-eyes-a-trend-reversal-in-favor-of-small">Russell 2000 Poised For Major Technical Breakout: Analyst Eyes &#8216;A Trend Reversal In Favor Of Small Caps Outperforming&#8217; S&amp;P 500</a>



The Bears



&#8220;<a href="https://www.benzinga.com/general/biotech/24/10/41381861/moderna-hit-with-another-lawsuit-related-to-key-covid-19-vaccine-technology">Moderna Hit With Another Lawsuit Related To Key COVID-19 Vaccine Technology</a>,&#8221; by <a href="https://www.benzinga.com/author/vandana-singh">Vandana Singh</a>, reports that Northwestern University has sued Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) for allegedly using its lipid nanoparticle technology in COVID-19 vaccines like Spikevax without permission, seeking damages for patent infringement.



&#8220;<a href="https://www.benzinga.com/news/24/10/41385546/ftc-click-to-cancel-rule-makes-it-easy-to-end-subscriptions-what-it-means-for-netflix-planet-fitness">FTC &#8216;Click-To-Cancel&#8217; Rule Makes It Easy To End Subscriptions: What It Means For Netflix, Planet Fitness And More</a>,&#8221; by <a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, reports that the Federal Trade Commission&#8217;s new rule aims to simplify canceling subscriptions, impacting companies like Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Planet Fitness Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) by requiring them to make a cancellation as easy as signing up.



&#8220;<a href="https://www.benzinga.com/news/24/10/41393244/tesla-has-a-new-chinese-electric-vehicle-competitor-how-a-company-that-used-to-sell-cheap-tvs-is-ent">Tesla Has A New Chinese Electric Vehicle Competitor: How A Company That Used To Sell Cheap TVs Is Entering EV Race</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports that Chinese company Skywell, known for selling affordable Skyworth TVs, unveiled the Q hatchback EV at the Paris Auto Show, marking its entry into the EV space and potentially challenging Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with competitively priced models.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/news/24/10/41354045/as-boeing-workers-enter-second-month-of-strike-rival-airbus-reportedly-plans-to-cut-2-500-jobs">As Boeing Workers Enter Second Month Of Strike, Rival Airbus Reportedly Plans To Cut 2,500 Jobs</a>



<a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle">Meta Confirms Layoffs Across Instagram, WhatsApp And Reality Labs Amid Strategic Reshuffle</a>



<a href="https://www.benzinga.com/news/24/10/41375886/warren-buffetts-stock-sales-point-to-overvalued-market-says-hedge-fund-manager-david-einhorn-not-a-g">Warren Buffett&#8217;s Stock Sales Point To Overvalued Market, Says Hedge Fund Manager David Einhorn: &#8216;Not A Great Time To Have A Lot Of Equity Exposure&#8217;</a>



Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.



Image created using artificial intelligence via Midjourney.

Benzinga Bulls And Bears: Apple, Tesla, Netflix, Oklo — And Dogecoin, Meme Coins Outpace Corporate Giants

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) enthusiasts have reason to be optimistic as the Chief Investment Officer of Bitwise, Matt Hougan, has projected that the apex crypto could hit a six-figure price by 2025.



What Happened: Hougan cited several factors that could propel Bitcoin&#8217;s price upward, in a recent interview on the Altcoin Daily channel.



He pointed to the recent halving event in April, which slashed miners&#8217; rewards by half, as a significant influence on Bitcoin&#8217;s market dynamics.



"I think it's going to be a new all-time high. I think it's going to be six-figure Bitcoin for sure," said Hougan.



"It's a risky market. You should only invest what you can lose. But the setup for 2025 is really exceptional."



Additionally, Hougan expects spot Bitcoin exchange-traded funds (ETFs) to become more prominent next year. He also highlighted potential Federal Reserve rate cuts as a bullish catalyst for Bitcoin&#8217;s price increase.



Hougan expressed confidence that Bitcoin might reach new all-time highs before the year ends, noting the substantial liquidity available for investment in the crypto market.



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill</a>



Why It Matters: Hougan&#8217;s prediction comes amid a backdrop of increasing institutional interest in Bitcoin.



Recently, MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) founder Michael Saylor <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41396724/microstrategy-boss-michael-saylor-taunts-bitcoin-doubters-challenges-them-to-short-company">challenged Bitcoin skeptics</a> to short the company&#8217;s stock, emphasizing their commitment to holding Bitcoin.



Furthermore, Morgan Stanley, despite previous skepticism from its executive chairman James Gorman, has <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41351925/morgan-stanley-chair-james-gorman-once-said-bitcoins-role-in-wealthy-peoples-financial-fab">actively recommended Bitcoin-related investments</a> to clients this year. This shift indicates a growing acceptance of Bitcoin among traditional financial institutions.



Additionally, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41295451/bitcoin-rises-2-to-break-62k-trader-reports-90-to-100-bullish-signals">recent rise in Bitcoin&#8217;s price</a>, with traders like Astronomer Zero reporting strong bullish signals, further supports the optimistic outlook for Bitcoin&#8217;s future.



<figure class="wp-block-embed is-provider-youtube wp-block-embed-youtube"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#039;All Hell is About To Break Loose In Crypto!&#039; Matt Hougan" width="500" height="281" src="https://www.youtube.com/embed/fRqy2zkflUY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Price Action: At the time of writing, Bitcoin's price was hovering at $68,361, up by 0.31% in the past 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41415033/fbi-arrests-alabama-man-who-allegedly-hacked-secs-x-account-to-prematurely-announce-bitcoi">FBI Arrests Alabama Man Who Allegedly Hacked SEC&#8217;s X Account To Prematurely Announce Bitcoin ETF Approval</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Bitcoin Predicted To Hit 6-Figure Price In 2025, Bitwise CEO Says Next Year Will Be 'Exceptional' For King Crypto

The Federal Bureau of Investigation (FBI) has arrested an Alabama resident for allegedly <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36566797/sec-twitter-hacked-fake-bitcoin-etf-approval-tweet-creates-market-mayhem">hacking</a> the U.S. Securities and Exchange Commission (SEC)&#8216;s social media account on X earlier this year.



What Happened: The FBI <a href="https://www.justice.gov/opa/pr/alabama-man-arrested-role-securities-and-exchange-commission-x-account-hack">apprehended</a> Eric Council Jr. on Thursday, accusing him of conspiring with others to gain unauthorized access to the SEC&#8217;s X account in January.



Council allegedly used the name of SEC Chair Gary Gensler to falsely announce the approval of a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exchange-traded fund (ETF).



This fake announcement caused Bitcoin&#8217;s price to surge by over $1,000 before it plummeted more than $2,000 after the SEC regained control of its account and labeled the announcement a security breach. The SEC did not implement multi-factor authentication for its profile at the time.



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41372090/anthony-scaramucci-tells-what-percentage-of-his-wealth-is-tied-up-in-bitcoin-i-havent-sold?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Tells What Percentage Of His Wealth Is Tied Up In Bitcoin: &#8216;I Haven&#8217;t Sold Any. Thank God, Knock On Wood!'</a>



Council is accused of executing the hack through an unauthorized SIM swap, tricking a cellphone carrier into reassigning a phone number to a SIM card he controlled. This allowed him to access the social media accounts linked to the number and post the premature Bitcoin ETF announcement.



FBI Criminal Investigative Division Assistant Director Chad Yarbrough stated, &#8220;The defendant allegedly deceived the public by impersonating the victim and making fraudulent statements on behalf of the SEC.&#8221;



Council faces charges of conspiracy to commit aggravated identity theft and access device fraud, with a potential five-year prison sentence.



Why It Matters: The incident highlights the vulnerabilities in social media account security, particularly for high-profile organizations.



In January, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36566797/sec-twitter-hacked-fake-bitcoin-etf-approval-tweet-creates-market-mayhem">SEC confirmed</a> that its official Twitter (now X) account was compromised, leading to a false tweet about Bitcoin ETF approvals.



This unauthorized post caused <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36575150/secs-hacked-tweet-on-bitcoin-etfs-causes-massive-trader-losses-over-220m-liquidated">significant market disruption</a>, with over $220 million liquidated and more than 70,000 traders affected.



The SEC, in collaboration with the FBI, <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36583935/sec-confirms-fbi-investigation-into-its-twitter-account-hack-after-false-bitcoin-etf-annou">launched an investigation</a> into the hack, emphasizing that the unauthorized content was not created by the SEC.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41350336/elizabeth-warren-says-rival-john-deaton-wants-to-go-to-washington-to-fight-for-his-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren Says Rival John Deaton Wants To Go To Washington To Fight For His &#8216;Crypto Buddies&#8217;</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

FBI Arrests Alabama Man Who Allegedly Hacked SEC's X Account To Prematurely Announce Bitcoin ETF Approval

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