Bitfinex Report: Bitcoin Could Revisit $117,000 to $120,000 if It Holds $110,000
On October 13th, Bitfinex issued a report indicating that last week, the Bitcoin price declined from above $126,000 to below $103,310, representing an 18.1% pullback and triggering the largest liquidation event in the history of the cryptocurrency market in terms of nominal value. Ethereum dropped from $4,750 to $3,500, and various alternative coins witnessed an immediate drop of over 80% in illiquid conditions. Within three hours on October 10th, approximately $1 trillion was wiped out from the entire cryptocurrency market. The total market capitalization temporarily dropped from a high of $4.26 trillion in October to $3.3 trillion, with over $19 billion in liquidation positions on a single day.
This sell-off was triggered by aggressive selling pressure in the spot market. It was exacerbated by the escalating trade tensions on October 10th, resulting in a 2.5x imbalance between sellers and buyers on major exchanges. The futures market intensified the decline. Cumulative volume discre
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Bitcoin Surges Above $115,000
On October 13th, according to HTX market data, Bitcoin has rebounded and is now trading above $115,000, specifically at $115,273, with a 24-hour increase of 3.31%.
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Polymarket Founder Previously Involved in Ethereum ICO
On October 13th, as per Fortune magazine, a competition for the dominant position in the prediction market is currently in progress between Kalshi and Polymarket. The prediction market has been around for many years, but it was not until 2024 that it truly gained momentum under a more lenient regulatory environment. Both companies announced new funding rounds last week. However, Polymarket's valuation reaching tens of billions of dollars has caused even greater commotion.
The product differences between the two startups are almost as insignificant as those between Uber and Lyft. Apart from Kalshi having a slight edge in the regulatory process, the most notable difference is that Polymarket is built on blockchain infrastructure. Kalshi is eager to incorporate crypto features, but it is not easy to catch up with the competition. Polymarket has been conducting transactions on the Polygon Layer 2 network since its establishment, and its founder Shayne Coplan (now 27 years old) even
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The Dogecoin Foundation's official business division, House of Doge, will go public on the Nasdaq through a merger with Brag House.
On October 13th, as per globenewswire, which is the official business arm of the Dogecoin Foundation, House of Doge Inc. announced today that it has entered into a definitive merger agreement with Brag House Holdings, Inc. (NASDAQ: TBH).
Brag House is an interactive platform focused on Gen Z and has business operations in the gaming, college sports, and digital media sectors.
Under the terms of the agreement, Brag House will acquire House of Doge through a reverse merger transaction. This proposed merger has received unanimous approval from both boards of directors and is intended to promote the mainstream adoption of Dogecoin and institutionalize its utility value.
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Source: The White House is set to nominate Mike Selig as the U.S. CFTC Chairman nominee
October 13th. According to Crypto In America, the White House is on the verge of making a decision regarding the nominee to assume the leadership of the U.S. Commodity Futures Trading Commission (CFTC) after Brian Quintenz. Two sources having knowledge of the process declared that Mike Selig, the SEC's Chief Advisor for Cryptocurrency, still stands as the top candidate for the U.S. government.
Meanwhile, the White House has initiated the process of reviewing potential commissioner nominees in order to reconstruct the five-person commission that is currently being led solely by Acting Chair Caroline Pham.
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