Bitcoin (BTC) continues to hold above $60,000 despite rising geopolitical tensions, while Ethereum (ETH) has dropped 4% to $2,350.
The crypto market is feeling the effects of recent Iranian airstrikes on Israel, which have created uncertainty for riskier investments.
Interestingly, whale investors are actively accumulating Bitcoin, signaling hopes for a future rally, according to Ki Young-Ju, founder of CryptoQuant. In contrast, the broader crypto market has seen a decline of over 1.95%, with Bitcoin ETFs experiencing significant outflows of $91.76 million, while Ethereum ETFs gained $14.45 million, breaking their two-day outflow streak.
Look at how fiercely the new whales are stacking #Bitcoin; this market has never seen such accumulation. pic.twitter.com/o314O54G0a
— Ki Young Ju (@ki_young_ju) October 2, 2024
XRP suffered a major blow, plummeting more than 10% within 24 hours following the SEC’s announcement to appeal a court ruling that had limited its regulatory power over crypto markets.
The biggest losers in the past 24 hours are Ethena (ENA) and Fantom (FTM), losing 18% and 14%, respectively.
Overall, the crypto market sentiment remains cautious as investors deal with the intricate influences of geopolitical events, regulatory shifts, and industry-specific developments.
Robert Kiyosaki, known for his best-seller “Rich Dad Poor Dad,” has become a strong advocate of Bitcoin, despite joining the crypto scene later than many.
New data reveals that Bitcoin long-term holders (LTHs) have significantly increased their supply over the past month.
An upcoming HBO documentary, directed by Cullen Hoback, is set to explore one of the biggest mysteries in the digital world: the identity of Bitcoin’s creator, Satoshi Nakamoto.
XRP, the cryptocurrency associated with Ripple, has seen a notable increase in whale transactions, as highlighted by Santiment.