Bitcoin (BTC) experienced a favorable week, with its value climbing approximately 10% to touch the psychologically significant milestone of $30,000. As the business week kicks off in Asia, it’s trading slightly above the 30K mark. Following this rally, investors are now grappling with the uncertainty of whether the upward trajectory will persist or if a market reversal is on the horizon.
What to Watch Out for Today
1. Morgan Stanley Signals Bullish Crypto Phase with Bitcoin Halving: Wall Street titan Morgan Stanley perceives the thawing of the crypto winter, with the next Bitcoin halving event as a harbinger for a bullish run. The scoop? A recent report by the bank draws parallels between the four-year crypto cycle and the seasonal cycle, pinpointing the halving event as the kickoff for a ‘crypto summer’. What does this imply? For crypto enthusiasts and investors, the anticipated price surge post-halving could be a golden period for investment. However, it’s wise to monitor market trends and historical halving impacts. Long Bitcoin?
2. Worldcoin Shifting Payment Mode to Foster Token Circulation: The Worldcoin Foundation is transitioning from paying orb operators in USDC to its native WLD tokens, aiming to complete the switch by next month. What’s the buzz? This change comes as the circulating supply of WLD tokens crosses 1% of the total, and loan agreements with market makers extend till December. The takeaway? For market makers and potential investors, keeping tabs on Worldcoin’s token circulation and the impact of this transition could be prudent. Long Worldcoin?
3. Bitcoin Lightning Network’s Vulnerability Sparks Developer Exodus: A recently exposed flaw known as the “replacement cycling attack” on the Lightning Network has triggered a resignation from developer Antoine Riard. What’s alarming? The vulnerability could potentially lead to financial losses for users within a channel. Riard’s exit and call for core network amendments underscore the complex challenges ahead for the Bitcoin community. What to do? For those engaged with the Lightning Network, staying updated on security enhancements and community discussions is crucial.
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