Bitcoin Bulls Charge and Smash $64K!

BTC jumped past $64K in Asian trading on Monday, fueled by optimism over a potential China stimulus and rising demand for Bitcoin-based assets.

Danielle du Toit
October 14, 2024

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BTC’s move higher came as Chinese stocks ended the morning session higher, buoyed by renewed stimulus hopes.

Bitcoin (BTC) surged above $64,000 in Asian trading on Monday, driven by hopes for a China stimulus and increased demand for Bitcoin-based assets.
Strong Bitcoin ETF inflows on Friday could signal some positive momentum, but patience is necessary before new all-time highs can be reached.
After BTC’s price jump, over $100 million in short positions were liquidated, according to CoinGlass data.

Brad Garlinghouse has thrown his support behind Bitnomial as it sues the SEC over what it describes as regulatory overreach.

Ripple CEO Brad Garlinghouse recently voiced his support for Bitnomial's legal challenge against the SEC, and even called the agency a "renegade" that operates beyond the law.
Ripple itself has also been engaged in a lengthy legal dispute with the SEC over whether XRP should be classified as a security.
Garlinghouse criticized the SEC’s anti-crypto stance and shared that Ripple is closely monitoring the Bitnomial v. SEC lawsuit, and may even consider potential legal actions against the agency’s overreach.

Google search interest for Bitcoin hit a yearly low in mid-October, while meme coin momentum remained high.

Google search volumes for "Bitcoin" hit a one-year low during the week of Oct. 12, while "meme coins" saw much higher search interest.
CryptoQuant CEO Ki Young Ju is very optimistic about the momentum of meme coins, and predicted that meme coin search volume could reach a new peak by the end of October 2024.
Despite the growing interest in meme coins, investors like Mark Cuban have raised some concerns about the tokens, and warned people that these speculative assets are all high-risk and potential "rug pulls."

Buterin converted another $1.6 million worth of meme coins that he was sent into ETH, which he previously promised would be donated to charities.

Vitalik Buterin sold $982,800 worth of Moo Deng (MOODENG), $231,000 of Monsterra (MSTR), and $183,000 of Ethereum Is Good (EBULL), according to Spot On Chain's Oct. 13 report.
Buterin also sold holdings in Popcat (POPCAT), Fwog (FWOG), and Vitalek Buteren (VITALIK).
Over the last nine days, Buterin donated $884,000 worth of meme coins to charities and also suggested that meme coin issuers donate directly instead of sending him tokens.

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