Bitcoin's recent decline has pushed it towards the critical $60,000 level, raising concerns about potential liquidations in U.S. spot **BTC ETFs**.  **Markus Thielen**, founder of 10x Research, estimates that the average entry price for these ETFs is between $60,000 and $61,000, making a break below this level a trigger for **liquidations**. This is particularly concerning as **institutional investors** haven't yet entered the market in force, despite initial claims from **BlackRock**. Recent **sell-offs** by **miners**, **old wallets**, and **Germany's divestment** of crypto holdings have further amplified downward pressure. Bitcoin's price has **dropped by 14% in four weeks**, trading at $60,200 after dipping below $60,000 earlier Friday morning.

The world's largest crypto has now declined 14% over the past four weeks.

Bitcoin ETF Liquidations Looming as Price Tests $60,000: Analyst

Shares of **Bitcoin** mining stock **CleanSpark Inc (CLSK)** are experiencing a notable increase today following the company's announcement of an approved increase in its authorized shares.

### What Happened?
CleanSpark held a special meeting of shareholders on Friday, where stockholders approved an amendment to increase the number of authorized shares from **300 million to 600 million**. This move is intended to support the company’s growth and operational flexibility.

CleanSpark plans to file this increase with the **Secretary of State of Nevada** once it receives the final voting results from the special meeting.

### Bitcoin's Impact on Mining Stocks
The rise in CleanSpark's shares is not occurring in isolation; it aligns with a broader uptick in **Bitcoin prices**, which rose approximately **2.14%** over the last 24 hours, hovering around **$68,850**. This increase in Bitcoin's value is positively influencing other Bitcoin mining stocks, leading to a healthy market sentiment.

Bitcoin has been trending sideways for some time but has recently started to recover, gaining nearly **10%** over the past month.

### Analyst Insights
**Kevin Svenson**, an analyst, recently shared his thoughts, predicting that Bitcoin could be on the verge of reaching new highs. He noted that historically, Bitcoin takes a significant amount of time to surpass its all-time highs after halving events. Currently, we are in the **35th month** since Bitcoin's last all-time high, suggesting we may be on track for another upward movement.

### Mining Metrics and Performance
Bitcoin mining stocks, including **CleanSpark**, **MARA Holdings Inc (MARA)**, and **Riot Platforms Inc (RIOT)**, are all witnessing gains this morning. Mining companies typically report their metrics monthly, and next week is expected to bring results for October. Last month, CleanSpark reported mining **493 Bitcoin**, an increase from **478 in August**, bringing its total to **5,079 Bitcoin** mined year-to-date, with **8,049 Bitcoin** held as of September 30.

### CleanSpark's Stock Performance
At the time of publication, CleanSpark shares were up **9.66%** at **$12.49**, reflecting the positive sentiment in the market and the company's recent announcements.

Shares of Bitcoin (CRYPTO: BTC) mining stock CleanSpark Inc (NASDAQ:CLSK) are moving higher Monday after the company announced approval for an increase of its authorized shares<

CleanSpark Sees Stock Surge After Major Share Increase Approval: What You Need to Know

### Bitcoin's Recent Surge
**Déjà vu** for Bitcoin as it climbs back above **$69,000** during European trading hours, marking a significant rebound after hitting this level just last week. Currently, Bitcoin sits at a **price of $68,925**, reflecting a **2% increase** on the day according to **CoinGecko**.

### Upcoming Economic Reports
Traders are gearing up for an **extremely busy week** as crucial macroeconomic reports are set to be released. These include:
- A new **Gross Domestic Product (GDP)** report for Q3
- **Personal consumption data** to track inflation
- A **jobs report** due on Friday

BRN analyst **Valentin Fournier** noted that these releases will provide insight into the economy’s strength, inflation trajectory, and employment trends, all of which can significantly influence Bitcoin's price.

### The Impact of the US Election
On **November 5**, Americans will vote in a closely contested presidential election between **Vice President Kamala Harris** and **former President Donald Trump**. Fournier believes that just having the election decided should provide a **boost to Bitcoin's price**.

"Given the current **accumulation phase**, upcoming macroeconomic data, and the **positive sentiment** surrounding the U.S. presidential election, we believe Bitcoin is well-positioned for a strong upward move," Fournier stated, recommending a substantial allocation to Bitcoin over **Ethereum** for maximizing potential gains.

### Trump’s Influence on Bitcoin
Singapore-based crypto trading firm **QCP Capital** observed that a recent **Trump podcast interview** has seemingly enhanced his lead over Harris on the crypto prediction market platform **Polymarket**. The interview on the **Joe Rogan Experience** podcast has gained over **32 million views**, pushing Trump's Polymarket odds above **66%**.

However, both QCP and BRN believe that Bitcoin's bullish momentum is becoming less dependent on Trump's success in the election. Despite being dubbed the **'Trump Trade,'** BTC’s correlation with Trump’s odds appears to be weakening as it aims to break the **$70,000** mark and surpass its **July highs**.

The price of Bitcoin topped $69,000 early Monday for the first time in a week, with key economic reports due ahead of the U.S. election.

Bitcoin Surges Past $69,000: What to Expect Before the US Election

## Bitcoin Technical Analysis

The **Bitcoin market** has experienced a slight rally in the early hours of Monday. Currently, it seems we are making every effort to challenge a significant **resistance barrier**. This environment is likely to remain turbulent, yet short-term pullbacks may present **buying opportunities**.

**Key Support Levels**: 
- The **$66,000** level is identified as short-term support. 
- Following that, the **50-day EMA** is near the **$64,000** mark.

On the upside, breaking above the crucial **$70,000** level would represent a **psychological victory** that traders will closely monitor. If successful, we might be witnessing the formation of a significant rounded bottom, potentially indicating a **continuation pattern**. However, we will need to observe if this scenario materializes.

The Bitcoin markets continue to see a bit of supportive action in the early hours of Monday, as the market continues to see a lot of ETF influence at points in time. Ultimately, this is a market that continues to see a lot of chop, but support at the same

Bitcoin Price Analysis: Is the $70,000 Breakthrough Imminent?

## Metaplanet's Bitcoin Surge

Metaplanet’s total Bitcoin holdings have now **surpassed 1,000** following its latest acquisition on Sunday, marking a significant milestone in its October spending spree in the world’s largest cryptocurrency.

The **Tokyo-based firm** has acquired just over **156 BTC for approximately $10 million**, bringing its total holdings to **1,108 BTC**, valued at **$69 million**.

Dubbed **"Asia's answer to MicroStrategy,"** Metaplanet is positioning itself as the **pioneer in the adoption of digital assets in Japan**. The company began holding Bitcoin on its balance sheet in April, and its recent announcement has fueled an **8% rally** in its stock during early Asian trading hours, with its share price trading at **1,139 JPY ($7.41)**, according to Google Finance.

## Bitcoin Market Reaction

In conjunction with Metaplanet's announcement, Bitcoin experienced a slight **0.8% uptick**, trading at **$67,645**, as per CoinGecko data.

This milestone follows several purchases made this month, totaling more than **600 BTC**. The buying spree began on **October 1**, when Metaplanet added **107 BTC** for **1 billion yen ($6.6 million)** at an average price of **$61,932 per Bitcoin**. Subsequent purchases included **108 BTC for $6.7 million on October 7** and another **108 BTC for $6.5 million on October 11**.

## Following in the Footsteps of Giants

Last week, Metaplanet adopted a metric known as **“BTC Yield,”** modeled after Michael Saylor’s MicroStrategy, the world's largest corporate holder of Bitcoin. This metric aims to provide a more transparent way of assessing whether Bitcoin purchases enhance shareholder value, with October proving particularly bullish for the company.

While Metaplanet’s **1,018 BTC holdings** still trail MicroStrategy’s **252,000 BTC**, the Tokyo-listed company is steadily rising as a **top contender globally in corporate Bitcoin adoption**.

The announcement, made during Asia's early trading hours, has fueled an 8% rally in Metaplanet's stock as its Bitcoin holdings top 1,000.

Metaplanet's Bitcoin Holdings Surge to $69 Million, Stocks Soar 8%!

## Bitcoin's Technical Breakthrough

A significant **technical event** has recently occurred for **Bitcoin (BTC)**: a **crossover** between the **50-day** and **100-day Exponential Moving Averages (EMAs)**. While this isn't the much-hyped **golden cross** (the 50-day crossing the 200-day EMA), it is nonetheless a crucial indicator.

When the **50-EMA** crosses above the **100-EMA**, it often signals a positive market direction and an improvement in the asset's short-term outlook compared to its medium-term trend. This hidden cross could instigate **bullish sentiment** in the market.

## Market Dynamics

Currently, Bitcoin is holding levels above the upper limit of its previous descending price channel, which has now turned into support, consolidating above a critical resistance level near **$65,000**. If Bitcoin can maintain its position above this range, it may initiate a gradual move towards higher targets. The demand for Bitcoin **ETFs** is also increasing globally, contributing to a growing market interest in digital assets. 

Traders are paying close attention to these developments, as the recent **50-100 EMA crossover** indicates an increase in bullish momentum, suggesting a potential rally towards the next resistance level at **$70,000** if Bitcoin continues its upward trajectory with rising trading volume.

## Shiba Inu's Volatility Potential

In the meantime, **Shiba Inu (SHIB)** is showing signs of a potential volatility explosion. The convergence of critical moving averages indicates a tightening of price action, which typically precedes a breakout or breakdown. Currently, SHIB is negotiating an area where the **50, 100**, and **200-day EMAs** are converging. This situation may signal a significant retracement or another rally depending on market dynamics.

With immediate fallback points at **$0.000017** and **$0.0000163**, SHIB may retrace towards lower support levels. However, if it can sustain its current momentum and overcome resistance, it may aim for previous highs.

## Solana's Push Towards $200

**Solana (SOL)** is also making strides, steadily approaching the crucial **$200** mark. After breaking through the **$160 resistance**, SOL is eager to reach **$200**, a significant psychological and technical level. The recent upward momentum is bolstered by the breakthrough of important resistance levels at **$150** and **$160**. 

However, reaching **$200** will not be without challenges. The **$185** level poses a significant barrier, and bulls need to maintain volume and buying interest to overcome it. The convergence of moving averages below the current price level provides a base that could facilitate SOL's potential breakthrough of overhead obstacles.

Bitcoin (BTC) Just Delivered Hidden Cross, Shiba Inu (SHIB) Volatility Explosion Might Be Next, Solana (SOL) Is Tired Being Below $200

Bitcoin's Hidden Cross Sparks Bullish Momentum: Is Shiba Inu Next for Volatility?

## The Pound in Your Pocket: A Historical Context

A British journalistic trope involves the phrase **“The pound in your pocket”**, a derisory reference to the 1960s Prime Minister **Harold Wilson**’s efforts to reassure the public against the impacts of proposed currency devaluation. Fast forward nearly **six decades**, and while fewer Brits carry **physical pounds**, the currency remains a staple in financial discussions.

## The Shift to Digital Currency

The **Governor of the Bank of England** has recently had to reassure everyone that the **pound won’t be replaced** by a proposed **“Britcoin” cryptocurrency**, should it be introduced. This raises important questions about the future of currency and its implications for privacy.

## The Privacy Angle

Although monetary policy typically falls outside Hackaday’s focus, the emergence of tightly regulated cryptocurrencies linked to existing currencies worldwide presents a significant **privacy concern**. Reviewing the justification for the new **digital pound** from the Bank of England reveals a lack of benefits that existing cashless payment systems don't already provide. Moreover, it presents a **blank regulatory slate** for governments to impose new rules that could negatively impact **digital privacy**. 

## A Concern for the Public

The notion that we’ll still be able to see a picture of the **King** (or a dead President) on our currency feels increasingly irrelevant, especially as fewer people handle cash. This shift may lead to cash transactions becoming more of a **protest act** against the increasing digitization of money. Just when we thought we had persuaded our **hackerspaces** to go cashless, the conversation around physical currency takes a new turn.

![Duct Tape Wallet](https://upload.wikimedia.org/wikipedia/commons/thumb/8/8e/Ducttapewallet.JPG/800px-Ducttapewallet.JPG)

A British journalistic trope involves the phrase “The pound in your pocket”, a derisory reference to the 1960s Prime Minister Harold Wilson’s use of it to try to persuade the publ…

Is Your Currency Safe? Exploring the Future of Digital Pounds and Privacy

### Elon Musk's Bold Claim at Trump Rally

At a recent campaign rally for **Donald Trump** in New York, **Elon Musk** made headlines by asserting that he could save the United States **$2 trillion** through the establishment of a **Department of Government Efficiency**. This statement came during a discussion led by **Howard Lutnick**, the CEO of Cantor Fitzgerald, who prompted Musk about cutting waste from the current **$6.5 trillion budget** proposed by the Harris-Biden administration.

Musk responded confidently, stating, "I think we can do at least $2 trillion." He emphasized that government spending equates to taxation, leading to inflation or direct taxation, thus indicating that **your money is being wasted**. He believes the proposed department would alleviate this burden by improving efficiency in government operations.

### Trump's Support for Musk
Musk has been a vocal supporter of Trump's campaign and has discussed potential roles within a second Trump administration. Trump has previously suggested Musk could lead the **Department of Government Efficiency**, humorously referred to as **DOGE** after the popular cryptocurrency.

### Unclear Details on Policy Changes
Despite Musk's ambitious claims, he did not provide any specifics regarding the **policy changes** or **spending cuts** he would implement should he take on a governmental role. Notably, the federal government's spending for the **2024 fiscal year** is projected at **$6.75 trillion**, meaning Musk’s proposed cuts would account for nearly a third of that total.

### Economic Implications
The debate around fiscal policy is ongoing, with both Trump and Vice President **Kamala Harris** proposing various tax reforms. However, experts from the **Committee for a Responsible Federal Budget** have raised concerns that neither candidate has a comprehensive plan to address the long-term viability of **Social Security**.

### Musk's Political Engagement
As the election approaches, Musk's financial influence is apparent, having contributed nearly **$119 million** to his pro-Trump political action committee, **America PAC**. He has also been actively campaigning in swing states and promoting initiatives like a **$1 million daily giveaway** to incentivize voter support.

Recent polls indicate a tight race between Trump and Harris, with both candidates capturing approximately **48%** of the popular vote. With the election only days away, Musk's involvement could significantly impact the outcome.

Musk did not elaborate on policy changes or spending cuts he would implement if he were to join a hypothetical second Trump administration.

Bitcoin ETF Liquidations Looming as Price Tests $60,000: Analyst

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Bitcoin's Hidden Cross Sparks Bullish Momentum: Is Shiba Inu Next for Volatility?

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Bitcoin Price Analysis: Is the $70,000 Breakthrough Imminent?

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Bitcoin's Hidden Cross Sparks Bullish Momentum: Is Shiba Inu Next for Volatility?

Is Your Currency Safe? Exploring the Future of Digital Pounds and Privacy

Elon Musk Claims He Could Cut $2 Trillion from US Government Spending at Trump Rally