Long-term Bitcoin holders took profits at record levels with realized gains hitting $1.7 billion daily as older coins re-entered circulation. The price of Bitcoin will have a challenging road ahead as long as long-term holders continue to take profits, according to analysts. The failure of crypto markets to recover was not due to manipulation, paper Bitcoin, or suppression, “just good old-fashioned sellers,” said analyst James Check on Sunday. Check added that the sheer volume of sell-side pressure from existing Bitcoin (BTC) holders is still not widely appreciated, and that it was “the source of resistance” at the moment. Read more
AI will automate most retail purchases in the future, with blockchain used to finalize payments, Shark Tank co-host and venture capitalist Kevin O’Leary says. AI and blockchain will spark the “next revolution in business,” according to multimillionaire Kevin O’Leary, with AI being able to autonomously make retail purchases and using blockchain to take care of payments. In a three-minute video posted to X Saturday, the Shark Tank co-host and venture capitalist said that blockchain will support an incoming wave of AI-driven transactions, handling everything from orders at Walmart and Target to burger shops and cafes: “So what happens there is the AI analyzes where you are, looks at the geography of what retailer [is nearby] and determines that that’s the one, and then uses a blockchain to actually do a digital payment system for the tall low-fat latte,” explained O’Leary. Read more
NYC mayoral candidate Andrew Cuomo wants to make New York City the world’s leading crypto and tech hub. Former New York governor Andrew Cuomo is reportedly betting big on crypto and AI as part of his bid to return as the city’s next mayor. The New York City mayoral candidate plans to make NYC “the global hub of the future” by coordinating initiatives across the blockchain, AI and biotech industries and modernizing how the city integrates new technology, co-host of Crypto in America, Eleanor Terrett, said on Saturday. Part of this will also involve creating a new chief innovation officer position aimed at attracting more investments and jobs to boost innovation, she said. Read more
Bitcoin and other hard money assets are the only way to fix the economic problems caused by currency debasement, analyst Luke Gromen said. The US dollar’s hegemony is over, as evidenced by China’s recent announcement of export controls on rare earth minerals, a critical component in electronics manufacturing and military defense applications, according to analyst Luke Gromen. China’s rare earth mineral export controls prohibit the sale of the critical minerals to the US military industrial complex, which backs the value of the dollar through military force, Gromen told Marty Bent, founder of Truth For the Commoner (TFTC), on Sunday. The export controls prompted US President Donald Trump to announce additional 100% tariffs on China, and revealed that China “has a lot more leverage than a lot of the Western commentators are admitting,” Gromen said. He added: Read more
Bitcoin's network hashrate hit an all-time high of over 1.2 trillion on Tuesday and remains elevated despite a drop in difficulty. The Bitcoin (BTC) mining difficulty fell to 146.7 trillion on Friday as the network hashrate, the average of the total computing power dedicated to securing the decentralized protocol, hit an all-time high of over 1.2 trillion hashes per second. BTC mining difficulty is down by about 2.7% from the all-time high difficulty level of over 150.8 trillion reached during the previous adjustment period, according to CoinWarz. However, network hashrate hit an all-time high on Tuesday, and remains elevated above 1.2 trillion, despite a small dip from Tuesday’s all-time high, data from CryptoQuant shows. CoinWarz also forecast: Read more
The de-escalation of tensions and growing odds of a trade deal between the US and China are positive price catalysts for cryptocurrencies. United States President Donald Trump confirmed on Sunday that he is meeting with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea, slated to begin on October 31. “We're going to meet in a couple of weeks. We're going to meet in South Korea, with president Xi and other people, too,” Trump told Maria Bartiromo of Fox News, following a de-escalation of trade tensions between China and the US. Trump said on Sunday: Trump previously said there was “no reason” to meet Xi Jinping at the APEC summit in South Korea, followed by an announcement of additional trade tariffs on China, which sent crypto markets into a downward spiral, wiping away 99% of value on some altcoins. Read more