The cryptocurrency market has enjoyed a very positive week, with total capitalization growing by around $140 billion, now exceeding $2.4 trillion. This growth is attributed to strong performances from many cryptocurrencies, starting with Bitcoin.
BTC is attempting to break above $66K, a price level it hasn’t reached since early August. Despite some volatility in the past week, the bulls have managed to take control. It remains to be seen if they can maintain this momentum, especially with the upcoming U.S. presidential elections likely to induce more market fluctuations.
Donald Trump has shown consistent support for the cryptocurrency industry, praising Bitcoin on multiple occasions. Meanwhile, Kamala Harris, who had been silent on the issue, recently stated her commitment to maintaining global leadership in emerging technologies such as AI, quantum computing, and blockchain.
Both presidential candidates now appear to support the crypto industry, though neither has made significant contributions during their respective terms in office—Trump during his presidency and Harris as Vice President.
In other news, Changpeng Zhao, a well-known figure in the crypto world, was released from prison two days earlier than expected, according to a report in Fortune. Zhao had been serving a 4-month sentence.
Interestingly, Bitcoin wasn’t the top performer over the past seven days. That distinction goes to SHIB, the meme coin inspired by dogs, which surged by a staggering 40%, riding the revival wave of meme coins.
The ongoing positive momentum in the market is intriguing, but whether it will continue or the bears have a surprise in store remains to be seen.
Market Data:
– Market Cap: $2.412T | 24H Vol: $115B | BTC Dominance: 53.8%
– BTC: $65,682 (+3.3%) | ETH: $2,654 (+4.2%) | BNB: $608 (+6.6%)
This Week’s Crypto Headlines You Better Not Miss:
**Former Binance Boss Changpeng Zhao to Be Released Early: Report.** Changpeng Zhao was supposed to be released from prison on September 29th. However, according to some reports, he has been set free today.
**Gary Gensler Lambasted as Most ‘Historically Destructive and Lawless’ SEC Chair.** The pro-crypto Republican representative Tom Emmer lambasted the chairman of the US Securities and Exchange Commission – Gary Gensler. He said that Gensler has been the most “historically destructive and lawless” SEC chair.
**BlackRock Sees Highest Monthly ETF Inflow as US Bitcoin Holdings Climb.** Bitcoin holdings in the United States are on the rise. This appears to be primarily driven by demand for spot BTC exchange-traded funds. That said, BlackRock saw the highest monthly ETF inflow so far.
**From Silence to Support: Kamala Harris Advocates for Blockchain in Latest Speech.** The current US Vice President, Kamala Harris, who is also running for President in the upcoming elections in November, has recently endorsed blockchain technology in one of her latest speeches.
**15 Years Later: Satoshi Era Wallet Moves Bitcoin Mined in Early 2009 (Data).** The beauty of the blockchain is that transactions are public. That said, data shows that a Satoshi-era wallet moved Bitcoin mined as early as 2009! That’s almost 15 years of holding.
**Sean ‘Diddy’ Combs Shares the Same Prison Cell With FTX’s Sam Bankman-Fried: Report.** In an interesting and kind of funny twist of events, Sean ‘Diddy’ Combs has reportedly been put in the same dorm-style prison cell as Sam Bankman-Fried, the former boss of FTX.
Charts:
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin – click here for the complete price analysis.
Twitter: Stay updated with the latest in the crypto market! #Bitcoin #ShibaInu
