🏎️ 3 drivers of the current market

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Another Satoshi Nakamoto Reveal HBO's documentary Money Electric: The Bitcoin Mystery claims Canadian Bitcoin developer Peter Todd is Satoshi Nakamoto. In the finale, Todd jokingly responds,  "Well yeah, I'm Satoshi Nakamoto,"  but he's known for using the phrase to defend the real creator's privacy. Todd has repeatedly denied being Bitcoin's inventor, both before and after the documentary, and on social media said, "I am not Satoshi." Who else can be Satoshi? Top Gainers and Biggest Losers DEGEN, NEIRO, and POPCAT emerged as the top gainers in the first half of October, showing impressive growth. Meanwhile, Lido DAO (LDO) took a hit, becoming the biggest loser over the past two weeks with a modest 17% drop. Degen DEGEN $0.010 ▴ 24.11% Get DEGEN Neiro (neiro.lol) NEIRO $0.0072 ▴ 161.66% Get NEIRO Popcat POPCAT $1.36 ▾ -2.55% Get POPCAT Wondering what are the  best & worst performing crypto  on a daily basis? Subscribe to our price alerts here. What Is Pushing the Market? Bitcoin is a top-performing asset this year, with a 49.2% gain. The Nov. 5 US election could impact Q4 performance: bigger gains are expected if Trump wins.  Historically, Q4 is bullish for BTC , and several catalysts could fuel further growth. Now, let's see what else probably drives the market Spot XRP ETF Amid Ripple's Legal Wins. Bitwise and Canary Capital have filed for a spot XRP ETF, with more info coming soon. Ripple's ongoing  battle with the SEC saw a big win  in July 2023 when the court ruled that XRP sales aren't investment contracts. Though the SEC's appeal was shot down, the Ripple team is confident XRP's status is secure. Bitcoin Miners' September Earnings Hit Yearly Low. In September, Bitcoin miners earned $815.7 million, their minimum this year. Fees made up just $13.86 million, the lowest since BRC-20 launched in March. JPMorgan reports  miners' block rewards dropped 6% from August , down to $16,100 per EH/s. Bitcoin Drops Amid Another SEC Suit. Weak US economic data and the SEC suit against Cumberland may have caused a recent Bitcoin drop. Inflation data made a 50bp Fed rate cut in November unlikely,  possibly spooking institutional investors . Bitcoin ETF outflows have continued. Analysts report large transfers to exchanges and whale sales; however, many saw the dip as a buying opportunity. 2 more market drivers Crypto markets have seen a recent uptick, with the market cap rising 8% in September 2024, spurred by lower U.S. interest rates and economic boosts from China. Bitcoin and Solana led the charge, thanks to improved investor sentiment and strategic partnerships. For stability, consider USDT or USDC. If you're open to risk, altcoins like Solana show strong growth potential. Decide for yourself JPMorgan experts highlight key factors set to shape the crypto market, including the Fed's rate cuts, Bitcoin ETFs, and the seasonal "Uptober" effect. Researchers found  October has been profitable  for crypto investors 70% of the time. While past results aren't a guarantee, the "Uptober" buzz could propel positive investor sentiment and lift Bitcoin. Analysts say the crypto market  hasn't fully felt the impact of U.S. rate cuts . While looser monetary policy often boosts risky assets, crypto's correlation with rates remains moderate at 0.46. The recent approval of options  trading on spot Bitcoin ETFs could increase liquidity  and draw new investors. Analysts believe this could improve the market and make crypto more accessible to institutions. Take a look into the future Have you enjoyed this letter? © Changelly 2015—2024 Get access to mobile-only rates Download the app to get exclusive benefits: Download About  |  Privacy Policy Manage Subscription Any information provided in this email does not constitute investment advice or investment recommendation nor does it constitute an offer to buy or sell or a solicitation of an offer to buy or sell digital assets or other financial instruments described in this email. In particular, this information should not be used as a substitute for suitable investment and product-related advice. Unless expressly stated otherwise, all pricing information is non-binding. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information in this email before making any decisions based on such information.