1. China's former Deputy Finance Minister Zhu Guangyao: Focus on studying the development of cryptocurrencies

The 2024 Tsinghua Wudaokou Chief Economists' Forum was held in Beijing on September 28. Zhu Guangyao, former Vice Minister of Finance, attended and delivered a speech. Zhu Guangyao called for attention to studying the development of cryptocurrency. “It does have a negative impact. We must fully recognize its risks and harm to the capital market, but we must study the latest international changes and policy adjustments because it is a critical aspect of the development of the digital economy.” Zhu Guangyao reviewed the development of cryptocurrencies. Over the past 10 years, the US has always believed that cryptocurrencies are hugely destructive to international anti-money laundering and international anti-terrorist financing. Furthermore, sharp fluctuations in cryptocurrency value have had a huge impact on international financial markets, but this year, US policy has evolved significantly. Zhu Guangyao explained that the Trump campaign platform clearly included cryptocurrencies, and he also publicly stated, “We must embrace cryptocurrencies, otherwise China will replace us.” The US Securities Regulatory Commission also approved the listing of 11 Bitcoin ETFs on the stock market and futures market. Among the emerging market countries and the BRICS countries, Russia, South Africa, Brazil, and India are also making moves.

2. Data: Today's fear and greed index is 61, in a state of greed

According to the latest alternative data, today's Fear and Greed Index (FGI) is 61, and we are in a state of greed. Note: The panic index threshold is 0-100, including indicators: volatility (25%) +market trading volume (25%) +social media popularity (15%) +market research (15%) +Bitcoin's share of the overall market (10%) +Google trending words analysis (10%).

3. Santiment: The current bullish sentiment in the market is too FOMO, and it may be difficult for BTC to quickly reach a new high

According to data posted by Santiment on social media, after Bitcoin's price rose 22% in 3 weeks, bullish sentiment has quickly replaced bearish sentiment, and traders all expect the price of the currency to reach 0.07 million US dollars soon. If investors are waiting to see Bitcoin reach a new all-time high, they may also need to wait until people lower their expectations. Currently, the number of bullish views far exceeds the bearish ones. However, historically, the market has always evolved in the opposite direction of what people expected.

4. Opinion: Bitcoin and DeFi are already bullish, optimistic about the next 12-18 months

MN Trading founder Michaël van de Poppe wrote on X: “After spending two weeks in Dubai, Singapore, and Thailand, I'm on a flight back to Amsterdam. The market has completely reversed, and Bitcoin and DeFi are already bullish. The first green week has arrived, but compared to the upcoming 12-18 months, it's nothing at all.”

5. September this year is expected to be the best performing September in Bitcoin history

Bitcoin held the key support level of 0.065 million dollars on September 29. If the current rally continues until the end of the month, September 2024 is expected to be the best performing September in Bitcoin's history. The US dollar index (DXY) fell to its lowest level in more than a year, approaching the psychological threshold of 100 points. Market analysts believe that a weak dollar will benefit Bitcoin and other risky assets, or push their prices up further.

6. 10x Research: Bitcoin is expected to hit a new all-time high in the short term

According to the latest report released by 10X Research, since the Federal Reserve cut interest rates in mid-September and the stimulus plan introduced by China, Bitcoin's strong rise has lifted it out of the downward trend. As Bitcoin surpasses $65,000, 10x Research expects it to rapidly rise to $70,000, followed by a record high in the short term. Markus Thielen, founder of 10X Research, said that stablecoin minting increased dramatically after the Federal Reserve's July meeting. At that time, the Federal Reserve announced that interest rates would remain unchanged, but hinted that the policy might be relaxed in September. Over the next few weeks, stablecoin minted close to $10 billion, injecting liquidity into the cryptocurrency market and significantly exceeding spot ETF traffic. Notably, Circle's USDC accounts for 40% of recent stablecoin inflows, which is much higher than normal, as the minting of USDC may indicate an increase in DeFi activity. Markus concluded that it is extremely likely that the market will rise strongly in Q4. Currently, it may be in the early stages of the rise, and a sharp rise may be imminent, triggering more FOMO in the cryptocurrency sector.

7. Data: If Bitcoin falls below 0.064 million dollars, the cumulative liquidation intensity of mainstream CEX multiple orders will reach 0.445 billion

According to Coinglass data, if Bitcoin falls below 0.064 million dollars, the cumulative liquidation intensity of mainstream CEX multiple orders will reach 0.445 billion; conversely, if Bitcoin breaks through 0.066 million dollars, the cumulative liquidation intensity of mainstream CEX empty orders will reach 0.477 billion.

8. Arkham: Tesla and SpaceX's Bitcoin holdings reach $1.3 billion

According to data disclosed by Arkham on the X platform, the combined market value of Elon Musk's Bitcoin holdings, Tesla and SpaceX, has reached 1.3 billion US dollars.

9. Cyvers: The amount of crypto hacking attacks surged to $2.1 billion in the first three quarters of 2024, and CeFi was hit the hardest

Cyvers said in the report that in the first three quarters of 2024, losses caused by cryptocurrency hackers reached 2.114 billion US dollars, exceeding the total losses for the whole of 2023. Compared to the same period last year, this figure is a significant increase of 72%. In 2024, the CeFi platform was hit the hardest, with a 984% increase in cryptocurrency hacking attacks. There were five major incidents in the second quarter of 2024 alone, with losses amounting to $0.401 billion. Most notable was the DMM Bitcoin exchange data breach, which caused a loss of $0.305 billion. Turkey's BTCTurk also suffered losses of 55 million dollars, in addition to losses on other exchanges such as Lykke and FixedFloat. DeFi platform losses have been reduced by 25% compared to the same period in 2023. Despite this, 62 incidents in the second quarter of 2024 resulted in losses of $0.1713 billion, with Ether and BNB Chain continuing to be the main targets of attacks due to their huge ecosystem.

10. Bitcoin miner hash prices have rebounded, and profit prospects are optimistic

The Bitcoin hash price has increased 10.33% over the past 30 days, of which the hash price has increased 8.93% in the past four days alone. The current hash price is $47.42, and the hash price is the estimated daily yield of 1 pH/s of Bitcoin hashing power. Miners' earnings were driven by both a rise in the price of Bitcoin and a 4.6% reduction in difficulty on September 25th.

11. FTX's bankruptcy distribution plan has not yet been approved, and compensation will not begin to be distributed on September 30

According to FTX's bankruptcy administration, compensation payments will not begin on September 30; related rumors are untrue. The restructuring compensation plan has not been approved by the court, and a confirmation hearing is scheduled for October 7, 2024. If the plan is approved, creditors with claims less than $0.05 million are expected to receive compensation by the end of 2024, while creditors with larger claims may have to wait until 2025. Some creditors are demanding compensation in crypto assets rather than cash, and the plan faces some opposition as a result.

12. Crypto Quant founder: Cryptocurrency and Web3 are not scams as long as they are well regulated

CryptoQuant founder Ki Young Ju wrote on X that cryptocurrencies and Web3 are not scams as long as they are well regulated. “Web3 enables borderless collaboration and value creation through token-based incentives, and functions more like a protocol than a company,” said Ki Young Ju. This marks a revolution in the way humans work together. While multinational companies like Google employ hundreds of thousands of people, Web3 agreements could one day involve millions of people. Scams do exist, just like in any field of finance, but that shouldn't overshadow the enormous potential of blockchain technology. Through intelligent regulation, Web3 can be transformed into a stable and trustworthy space. With the right rules, Crypto and Web3 can thrive responsibly. One day, the government will let this happen. The question is, how long will it take? That's why I prefer politicians who are interested in cryptocurrencies, even if some of their opinions are extreme. Without profit, nothing can be done, and regulation will not develop. This is the current situation in Korea. I want politicians to talk freely about cryptocurrencies to drive progress.”

13. Survey: 34% of professional investors in London have invested or plan to invest in digital assets

According to Ledger Insights, Northern Trust shared the results of a recent poll of 100 investment professionals in London, of which 34% have invested in digital assets or are planning to do so soon. The Northern Trust survey found that two-thirds of people think private assets would benefit the most. The next most promising group is commodities and real estate (53%), followed by money market funds (36%). Pete Cherecwich, Northern Trust's new chief operating officer, said: “These findings highlight the dual nature of opportunities and challenges as our customers meet their data needs through the convergence of emerging digital assets and advanced technology.”

14. HSBC issues HK$1 billion digital bonds using distributed ledger technology

According to Ledger Insights, HSBC issued a one-year digital note of HK$1 billion ($0.128 billion), using distributed ledger technology (DLT). The structure of this offering is similar to the $0.756 billion Hong Kong Sovereign Digital Bond issued earlier this year. As a result, the latest digital notes are issued through HSBC Orion DLT, with the local central securities depository (CSD) CMU as the platform operator. According to reports, HSBC Orion, the HSBC blockchain bond tokenization platform, uses Digital Asset's DAML technology combined with Hyperledger Fabric.

15. Binance founder Changpeng Zhao first claimed to invest more in technology after his release

Binance co-founder Changpeng Zhao promised to continue investing in blockchain, artificial intelligence, and biotechnology. This is his first public comment since his release from the US. Zhao Changpengheng posted on social networking platform X over the weekend, “We will continue to invest in blockchain/decentralized technology, artificial intelligence, and biotechnology. I'm a long-term investor who cares about impact rather than return. I'll also spend more time and money on charity (and education). I have a few rough ideas.” Zhao Changpeng said that his new project, called Giggle Academy, is a non-profit online education platform that “will become an important part of my life.”