#BTC

In addition to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and the stablecoin Tether (USDT), MoonPay users can now add XRP to their portfolios. This expansion aligns with the growing demand for this cryptocurrency and broadens the platform’s capabilities.

On October 10, the U.S. Bureau of Labor Statistics released the inflation data for September, with the year-over-year Consumer Price Index (CPI) dropping from 2.5% to 2.4%, moving closer to the Federal Reserve’s target of 2%.

The U.S. government is poised to significantly increase its funds following a Supreme Court ruling that opens the door for the sale of 69,370 BTC, seized from the notorious Silk Road dark web marketplace.

The International Monetary Fund (IMF) has revised its stance on El Salvador’s Bitcoin adoption. Initially, the IMF had been pressing for a complete ban on BTC’s use as official legal tender since 2021.

As September 2024 comes to a close, Bitcoin seems poised to end the month in the green, showing a 7% gain as of September 30. Historically, September has been a tough month for BTC, but not this time. The last time we saw a back-to-back positive September for Bitcoin was way back in 2015-2016.

Ethena Labs announced the launch of a new stablecoin, UStb, backed by BlackRock's tokenized Treasury fund, BUILD. This coin will operate independently from the existing USDe, which utilizes hedging strategies, including trades involving cryptocurrencies like BTC, ETH, and SOL, to offer users a yield.

On September 20, Michael Saylor’s MicroStrategy revealed that it had purchased another 7,420 BTC, with the acquisition totaling approximately $458.2 million.

“It’s cool to hate Ethereum right now. I bet this ends up looking silly,” Bitwise CIO Matt Hougan remarked as BTC's dominance over ETH rises, with the ETH/BTC ratio dropping below 0.04 for the first time since 2021.

The U.S. Securities and Exchange Commission (SEC) reached a settlement with eToro, a trading platform, resolving allegations that the company failed to register as a broker. eToro has agreed to pay $1.5 million in fines and limit cryptocurrency trading for U.S. users to only BTC, BCH, and ETH.

The latest report from the Bureau of Statistics, published on October 4, shows that 254,000 new jobs were added in September.

In the upcoming HBO documentary Money Electric: The Bitcoin Mystery, premiering on October 8, acclaimed director Cullen Hoback embarks on a deep investigation to uncover the truth behind the creation of Bitcoin (BTC) and the mysterious identity of Satoshi Nakamoto.

Powell’s Speech - Today, on September 30, Federal Reserve Chair Jerome Powell will be delivering his latest briefing.

On September 18, the U.S. Federal Reserve announced a 50 bps reduction in its benchmark interest rate, bringing it down to 5%.

American investment bank Jefferies reports a downturn in mining profitability as BTC continues to trade below $60,000, while the hash rate keeps rising. Analysts indicate that in August 2024, daily mining revenues decreased by 11.8% compared to the previous month.