According to Cointelegraph, CryptoQuant analysts suggest that Bitcoin is entering a period of positive seasonality, but an increase in demand is necessary for the price of BTC to reach $100,000 in the fourth quarter. Historically, Bitcoin has performed well in October during bull cycles, especially in halving years like 2024. The market intelligence firm noted that in previous halving years—2012, 2016, and 2020—Bitcoin's price increased by 9%, 59%, and 171%, respectively. Analysts highlighted that Bitcoin's performance in 2024 has been similar to 2016 and 2020 up to September. CryptoQuant’s Bull-Bear Market Cycle Indicator shows that Bitcoin remained in the BULL phase between March and August. However, the price has been trading in a BEAR phase for three weeks between August and September and now enters the last quarter positioned between the BULL and BEAR phases. In comparison, Bitcoin entered Q4 in 2020 in a clear bull phase, making this year’s entry into the last quarter relatively weak. The report also emphasizes that Bitcoin’s apparent demand has stopped declining but needs to grow faster to sustain higher prices in Q4. The data reveals that Bitcoin’s apparent demand growth has stalled since July, oscillating between -23,000 and +69,000 BTC on a monthly basis. In contrast, Bitcoin’s apparent demand grew by as much as 496,000 BTC in April when the price was around $70,000. Analysts believe that institutional demand through US-based Bitcoin exchange-traded funds (ETFs) is crucial for further BTC price growth. These investment products shifted from net selling of 5,000 BTC to net buying of 7,000 BTC between Sept. 2 and Sept. 30. If ETF demand continues to accelerate, it could propel prices up in the last quarter of 2024. Data from SoSoValue indicates that spot Bitcoin ETFs saw $1.8 billion in net inflows between Sept. 13 and Sept. 30, suggesting increased institutional demand for these investment products in anticipation of higher BTC prices in Q4. London-based asset manager CoinShares noted that the approval of options for certain US-based investment products likely boosted sentiment, resulting in more than $1 billion in inflows into Bitcoin investment products between Sept. 23 and Sept. 27. CryptoQuant suggests that if demand continues to grow, Bitcoin could target between $85,000 and $100,000 by the end of December. Market participants are now focusing on increasing geopolitical tensions in the Middle East, the health of the US job market, and the Federal Reserve’s future interest rate cuts in 2024 following an aggressive 50 basis point cut on Sept. 18.

A prominent player in the crypto investment space is filing for a new digital asset exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). According to a Fox Business Report, Bitwise Asset Management, the largest crypto index fund manager in the US, has filed to launch a spot ETF for XRP, the native […] source: https://dailyhodl.com/2024/10/02/4500000000-crypto-firm-bitwise-files-for-first-xrp-based-etf-with-sec-report/

History favors Bitcoin’s price prospects for Q4, but CryptoQuant analysts caution that a consistent uptick in demand will be a critical component. source: https://cointelegraph.com/news/100-k-bitcoin-price-depends-on-increasing-demand-and-favorable-seasonality-crypto-quant?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

The Chiliz blockchain is aiming to become "the sports blockchain," its CEO Alexandre Dreyfus told CoinDesk in an interview, while also calling out the disproportionate historical hype around NFTs in comparison to fan tokens. source: https://www.coindesk.com/business/2024/10/02/fan-tokens-have-much-larger-market-than-nfts-says-chiliz-ceo-as-blockchain-prepares-new-memecoin-pepper/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Edward Snowden warns Solana's 'faster, cheaper' approach creates dangerous centralization risks for users. source: https://dailycoin.com/snowden-torches-solanas-centralized-approach-to-blockchain/?utm_source=cryptopanic&utm_medium=rss

According to Odaily, Cathie Wood's ARK Invest is set to invest at least $250 million in OpenAI. This significant investment underscores ARK's commitment to advancing artificial intelligence technologies and supporting innovative companies in the sector.

The long-awaited testnet for Cardano privacy protocol Midnight Network has gone live. This new development, addressed in a note to developers, has placed Cardano in the spotlight. According to the announcement, the Cardano sidechain is ready to welcome blockchain developers interested in building on it. Understanding the Cardano Midnight Testnet The expectation of the testnet […] source: https://www.thecoinrepublic.com/2024/10/02/cardano-midnight-testnet-live-heres-all-you-need-to-know/

Despite the escalation of geopolitical tensions in the Middle East, QCP Capital analysts say market sentiment remains generally positive. source: https://cryptodnes.bg/en/heres-how-low-bitcoin-could-go-if-geopolitical-tensions-escalate-further/

As Iran hits back at Israel’s aggression, Middle East tensions are sending a shockwave through meme coin markets, notably impacting the price of PEPE. At the heart of the latest scare is a retaliatory move by the Iranian regime for the killing of Hezbollah Leader Hassan Nasrallah at his underground headquarters in Beirut. Last night, […] source: https://cryptonews.com/news/pepe-crashes-12-with-rising-middle-east-tensions-why-big-players-arent-panicking-just-yet/

据 The Insider 披露，Cathie Wood 旗下 ARK 方舟基金将向 OpenAI 投资至少 2.5 亿美元。（金十）

ZKsync’s recent airdrop saw nearly half of the top recipients selling their tokens, sharply dropping ZK's price. This led to criticism of ZKsync’s airdrop criteria and network issues, with critics arguing that anti-Sybil attack measures were insufficient. Will the price continue to decline?