Take Bitcoin profits at $110K, CME tops Binance in BTC futures open interest: Hodler’s Digest, Nov. 5-11 

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CME overtakes Binance to get largest share of Bitcoin futures open interest

” Okay this is fascinating … Does this constitute a market of substantial size now?” Seyffart mentioned in a post on X (previously Twitter).

Bitcoins futures market is revealing an interesting shift as worldwide derivatives marketplace the Chicago Mercantile Exchange (CME) has gone beyond Binance in terms of Bitcoin futures open interest. This modification occurred after Bitcoin went beyond the $37,000 mark for the first time in over 18 months.

Nevertheless, James Seyffart, a research expert at Bloomberg Intelligence focusing on exchange-traded funds, questioned whether the increasing open interest in Bitcoin futures on CME would address historical concerns of the United States Securities and Exchange Commission relating to the depth of Bitcoin markets and the capacity for market manipulation.

Cryptoqueens OneCoin legal chief pleads guilty to fraud

On Nov. 10, millions in crypto assets were moved from an account identified Poloniex 4 on Etherscan. Approximated at $60 million, later assessments revealed the loss exceeded $100 million. CertiK, a blockchain security firm, recommends a “private essential compromise” as the most likely cause and keeps in mind that the funds have actually already been moved to four externally owned accounts, with some transformed into Ether.

Tiago Serôdio, head of neighborhood at Partisia Blockchain.

For more details on crypto costs, make certain to read Cointelegraphs market analysis..

According to Etherscan data, a deal of 1,262 Ether, valued at $2.4 million at existing costs, stemmed from a recognized CoinSpot wallet and got in the wallet connected to the supposed hacker.

In Web3, its not the code thats king, however the neighborhood. Rather of perfecting backend logic, focus on front-end openness.”.

In a current court file, Genesis stated that 3AC needs to be provided a claim of $33 million versus Genesis. This represents 3.3% of the total claims at first made versus Genesis, which totaled up to $1 billion.

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Dilkinska is set up for sentencing on February 14, 2024, facing a potential optimum sentence of 10 years in prison for her function in the OneCoin plan.

Amongst the most significant 100 cryptocurrencies, the top 3 altcoin gainers of the week were FTX Token (FTT) at 250.48%, Kaspa (KAS) at 67.23% and Cronos (CRO) at 52.20%.

I say, Sorry, we are uninteresting. But we are one of the earliest projects. We are really big … We are the one who has the most changes on GitHub, and we have not been down for over 2000 days … Boring sometimes is good.”.

Frederik Gregaard, Cardano Foundation CEO.

Blockchain security firm CertiK shows that the current $2.4 million theft from Australian cryptocurrency exchange CoinSpot hot wallet likely occurred due to a “private crucial compromise.” CoinSpot appears to have experienced a hack, involving the possible compromise of a personal type in one of its hot wallets.

The former head of legal and compliance at OneCoin is looking at a potential 10-year prison term for her participation in the $4 billion cryptocurrency trading scheme. In Manhattan federal court, the ex-compliance chief of OneCoin, Irinia Dilkinska, pleaded guilty to charges of wire scams and cash laundering.

Examining its Terminal Price, Look Into Bitcoin creator Philip Swift described its worth as a “basic” approach of approximating long-term BTC price peaks. Terminal Price is computed from Bitcoins so-called “Transferred Price”– a worth obtained by dividing “Coin Days Destroyed” by the existing supply. Not every all-time high reaches Terminal Price, however BTC/USD did strike the trendline throughout its 2017 preliminary and all-time peak in April 2021. The existing all-time high of $69,000, seen in November of that year, fell short.

Binances Chief Compliance Officer crudely but succinctly summed up this case when he confessed that Binance was operating as a fking unlicensed securities exchange in the USA bro. He was right.”.

Binance to terminate Russian ruble deposits next week.

Matthew Putman, CEO and co-founder of Nanotronics.

As we have actually seen with cryptocurrency, heavy-handed restrictions have actually hindered the exploration of possibly revolutionary applications.”.

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Ordinals assistance to reveal the core values of Bitcoin in a much more friendly method than Bitcoin, which is harsh or too technical for some individuals.”.

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As the price of BTC hovers around its greatest levels in the previous 18 months, analysts are currently speculating about the prospective upward trajectory it might take in the approaching months and years. Bitcoin might next be a “sell” at $110,000 as its new bull cycle plays out, a classic on-chain indication recommends.

The United States Securities and Exchange Commission.

A Lot Of Memorable Quotations.

SafeMoon CEO bail release goes on hold after Feds cite flight risk.

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Poloniex exchange suffers $100M make use of, offers 5% bounty.

Forecast of the week.

The delay follows a New York District Judge, LaShann DeArcy Hall, decided to put a hold on the bail release order provided on Nov. 8 by a Utah Magistrate judge, who had actually allowed Karony to be launched on a $500,000 bail. District attorneys contested this decision, declaring that the release order was made “without consideration of the defendants considerable monetary means and ability to get away,” and they emphasized that his release could be a “continued danger to the community.”.

Top Magazine Pieces of the Week.

Binance users in Russia require to keep in mind: They have a little over 2 months, until Jan. 31, 2024, to withdraw their rubles from the platform. Binance is finishing up its operations in Russia and plans to stop accepting deposits in Russian rubles from November 15, 2023.

Crypto exchange CoinSpot reportedly suffers $2M hot wallet hack.

A crypto wallet linked to the digital exchange Poloniex has experienced suspicious outflows, evident on the blockchain explorer Etherscan. Blockchain security professionals believe a breach, resulting in enemies draining approximately $100 million in crypto..

According to a declaration from the U.S. Department of Justice, U.S. District Judge Edgardo Ramos accepted Dilkinskas guilty plea. She confessed to one count of conspiracy to devote wire scams and one count of conspiracy to devote money laundering. Each charge carries an optimal sentence of five years in prison..

As Terminal Price increases with time, $110,000 might ultimately wind up a conservative target needs to the next all-time high take place just later on in the next cycle.

Bitcoin Terminal Price hints next BTC all-time high is at least $110K.

At the end of the week, Bitcoin (BTC) is at $37,249, Ether (ETH) at $2,078 and XRP (XRP) at $0.67. The total market cap is at $1.42 trillion, according to CoinMarketCap.

Taiwanese district attorneys are seeking to detain Chang Tung-ying, the chief partner at JPEXs Taiwan office, on charges of scams associated to the JPEX cryptocurrency exchange. The scenario surrounding the collapsed exchange is unfolding, with the Taipei District Prosecutors Office (TDPO) apparently recognizing new suspects. According to a report from local television channel TVBS News on November 9, the TDPO has requested the custody of Chang Tung-ying over accusations of scams..

Genesis looks for courts approval to reduce Three Arrows Capital claim from $1B to $33M.

As part of the ongoing JPEX examination, prosecutors in Taipei browsed 9 areas and summoned Chang along with three other individuals believed to be involved. Chang and JPEX speaker Shih Yu-sheng (likewise understood as Shi Yu) are thought about suspects in the event for breaking the Banking Act and the Money Laundering Control Act.

Tom Emmer, United States Republican congressman.

This comes after Binance declared its total exit from Russia by selling its organization to a recently developed crypto exchange called CommEX in September 2023. Theres been limited details about the details of the deal, consisting of the size of the deal and the creators of CommEX, triggering some controversy.

Pseudonymous blockchain detective ZachXBT highlighted two deals on Nov. 8 that entered the wallet belonging to the alleged hacker. Subsequently, the wallets owner moved the funds to the Bitcoin network by means of THORChain and Wan Bridge. CertiK stated that the evident make use of was most likely the outcome of a “probable personal crucial compromise” on a minimum of among CoinSpots hot wallets..

FUD of the Week.

The top 3 altcoin losers of the week are Maker (MKR) at -3.39%, Tether Gold (XAUt) at -2.60% and PAX Gold (PAXG) at -2.51%.

Insolvent cryptocurrency lender Genesis has actually asked the court to authorize its proposed settlement agreement with the collapsed crypto hedge fund Three Arrows Capital (3AC).

Losers and winners.

Special: 2 years after John McAfees death, widow Janice is broke and needs answers.

According to Genesis, 3ACs claims against Genesis were the biggest asserted claims in Chapter 11 cases connected with the collapse of the FTX exchange. Genesis stressed that the 3AC debtor was among Genesiss largest debtors from 2020 to 2022, up till the time of its collapse.

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Wall Street catastrophe professional Bill Noble: Crypto spring is unavoidable.

Lugui Tillier, industrial director for Lumx Studios.

SEC Chair Gensler can not continue to abuse the powers of his company to satisfy a political program of driving the new and promising digital possession market offshore.”.

JPEX scandal: Taiwan determines brand-new suspects in alleged scams– Report.

SafeMoon CEO Braden John Karonys bail release has been postponed by U.S. federal prosecutors, who argue that he may attempt to leave the nation due to his alleged access to connections and funds abroad. The district attorneys revealed concerns that his release could position a flight threat and be a prospective danger to the community.

2 years after John McAfees death, his wife, Janice, is still unable to get closure. “All I want is to see his body for myself and know that truly occurred.”.

Animoca buys Twitch-like platform and Web3 video gaming was a significant talking point at Binance Blockchain Week.

$ 10K JPGs frighten gamers, Animocas crypto video game streaming strategies: Web3 Gamer.

6 Questions for Lugui Tillier about Bitcoin, Ordinals, and the future of crypto.

Lugui Tillier is the business director for Lumx Studios, one of the top cryptocurrency firms in Rio de Janeiro– a city with a blossoming crypto industry.

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Cointelegraph Magazine writers and reporters added to this post.

Analyzing its Terminal Price, Look Into Bitcoin developer Philip Swift explained its worth as a “easy” approach of approximating long-term BTC price peaks. Terminal Price is determined from Bitcoins so-called “Transferred Price”– a worth obtained by dividing “Coin Days Destroyed” by the existing supply. Subsequently, the wallets owner transferred the funds to the Bitcoin network by means of THORChain and Wan Bridge. On Nov. 10, millions in crypto properties were moved from an account labeled Poloniex 4 on Etherscan.$ 10K JPGs scare away gamers, Animocas crypto video game streaming strategies: Web3 Gamer.

Other Questions People Ask

What does it mean to take Bitcoin profits at $110K in the context of CME topping Binance in BTC futures open interest?

Taking Bitcoin profits at $110K refers to the strategy of selling Bitcoin when it reaches this price point, which analysts suggest could be a significant sell signal as the current bull cycle unfolds. The recent shift where CME has surpassed Binance in Bitcoin futures open interest indicates a growing institutional interest and market maturity, potentially validating this price target. Investors should consider market trends and historical data when deciding to take profits, especially in light of regulatory scrutiny and market manipulation concerns.

How does CME's increase in Bitcoin futures open interest affect the decision to take Bitcoin profits at $110K?

The increase in Bitcoin futures open interest at CME, surpassing Binance, suggests a more robust market environment, which could influence the decision to take profits at $110K. This shift may indicate greater institutional confidence in Bitcoin, potentially leading to increased price stability and upward momentum. Investors should monitor these developments closely, as they could provide insights into market behavior and help inform their profit-taking strategies.

What are the implications of CME topping Binance in BTC futures open interest for Bitcoin profit-taking strategies?

CME topping Binance in BTC futures open interest may signal a more mature and regulated Bitcoin market, which could impact profit-taking strategies around the $110K mark. This development suggests that institutional players are becoming more involved, potentially reducing volatility and increasing price predictability. As such, investors might feel more confident in setting profit targets like $110K, knowing that a larger market presence could mitigate risks associated with sudden price swings.

Why is the $110K profit-taking target significant in light of recent market changes like CME's rise?

The $110K profit-taking target is significant as it aligns with historical price patterns and current market dynamics following CME's rise in Bitcoin futures open interest. Analysts suggest that this price point could represent a critical juncture for Bitcoin as it enters a new bull cycle. With increased institutional interest reflected by CME's dominance, investors may find this target more achievable and strategically sound for realizing gains.

What should investors consider when taking Bitcoin profits at $110K amid CME's market changes?

When considering taking Bitcoin profits at $110K, investors should evaluate the implications of CME's recent rise in BTC futures open interest, which indicates a shift towards institutional involvement. This change may enhance market stability and provide a clearer picture of future price movements. Additionally, investors should remain vigilant about regulatory developments and market sentiment, as these factors can significantly influence their profit-taking decisions.