FameEX Morning Crypto News Recap | October 18, 2024

Significant Surge in Bitcoin Whale Trading Activity and Social Media Discussions

On October 17, Santiment reported a notable rise in Bitcoin whale trading and social media activity. The data revealed that the number of large transactions, each exceeding $100,000, reached a 10-week high, with 11,697 transactions recorded on Tuesday, highlighting increased interest and activity in the Bitcoin network.

95% of Bitcoin Addresses Show Profitability as Market Sentiment Improves Significantly

IntoTheBlock reported that 95% of Bitcoin addresses are currently profitable, reflecting a significant improvement in market sentiment. Historically, such high profitability levels suggest strong bullish momentum, but they could also indicate a potential risk of market over-extension.

Glassnode Chief Analyst Warns: Price Correction Inevitable, Cautions Against FOMO

On October 17, Glassnode chief analyst James Check advised Bitcoin investors to remain patient and avoid "FOMO," warning that price corrections are inevitable. He highlighted that Bitcoin futures open interest (OI) has hit a record high, suggesting that high leverage could lead to increased market volatility.

BlackRock Acquires 10,126 BTC in Two Days, Total Holdings Reach 380,972

Lookonchain data revealed that BlackRock purchased 5,802 BTC, worth around $390.2 million, yesterday. Over the past two days, the firm acquired a total of 10,126 BTC, valued at $681 million. This brings BlackRock's total Bitcoin holdings to 380,972 BTC, approximately worth $25.62 billion.

Google Reinstates Bitcoin and Ethereum Price Charts

Google temporarily removed Bitcoin and Ethereum price charts from search results over the weekend due to inaccurate data from a third-party provider. The issue has been resolved, and the charts are now restored. Users can continue to access real-time cryptocurrency prices through Google Finance.

EU May Include Musk's Other Business Income in Fines for Social Media Platform 'X'

The EU's Digital Services Act allows fines of up to 6% of annual global revenue for platforms failing to address illegal content, disinformation, or transparency rules. The EU warned that when fining social media platform "X," it might include revenue from Musk's other businesses, such as SpaceX and Neuralink, significantly increasing the potential penalty.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.