### A Legal Battle in the Crypto Space

Derek Khanna, a **prominent conservative political commentator** and the **general counsel** for the Bitcoin Advocacy Project, has initiated legal proceedings against a **crypto startup** in a Washington, D.C. court. Khanna claims that the startup's executives have **"pocketed large sums of money"** and subsequently **"fell off the face of the earth."**  

In a recent interview, Khanna expressed his frustration, stating, **"I just want my money back."** This situation raises important questions about **accountability** and **transparency** within the rapidly evolving cryptocurrency market. The crypto industry has faced increasing scrutiny, and cases like this highlight the potential risks for investors and advocates alike.

"I just want my money back," said Derek Khanna, who holds several roles and side hustles, including head of policy and general counsel for the Bitcoin Advocacy Project.

Conservative Bitcoin Advocate Takes Legal Action Against Crypto Startup: What Happened?

## The Current Rally

The ongoing **rally of Bitcoin (BTC)**, **Ethereum (ETH)**, and **Solana (SOL)** does not guarantee that all cryptocurrencies will perform well. According to a recent report by **10x Research**, investors should be cautious and selective in their choices.

## Key Insights from 10x Research

- **Selective Investment**: The report advises investors to avoid any coin or token that has not rallied at least **10%** in the past week. It emphasizes focusing on assets that exhibit resilience and growth potential.
- **Solana Proxies**: Notably, Solana-related proxies such as **Jito (JTO)** and **Jupiter (JUP)** saw impressive weekly gains of **24%** and **16%**, respectively, mirroring Solana's strong performance.
- **Ethereum Gains**: Similarly, **Ethena (ENA)**, an Ethereum proxy, reported a **37% increase**, indicating significant interest in Ethereum despite it not being the main focus of this rally.
- **ETF Developments**: There's increasing anticipation for the launch of an **Ethereum ETF**, which could enhance Ethereum's appeal as interest in ETFs rises.

## Market Dynamics

- **Institutional Interest**: The convergence of cryptocurrency with traditional finance is expected to stimulate institutional interest, particularly as regulatory developments unfold in the U.S.
- **Bitcoin's Momentum**: Bitcoin's market activity is noteworthy, with **$1.4 billion** in ETF inflows, totaling over **$25 billion** in inflows this year alone. This trend signals genuine buying interest, primarily from long-only buyers.
- **Retail Trading Trends**: There has been a notable increase in retail trading activity in South Korea, with tokens like **UXLINK** gaining traction. This reflects a renewed interest among retail traders and adds volatility to the market landscape.

## What's Next?

Investors are encouraged to keep an eye on the **Future of Digital Assets** event on **Nov. 19**, which will feature discussions about the future of cryptocurrency investments amidst evolving market conditions and regulatory shifts.

The ongoing rally of Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Solana 

Why Bitcoin, Ethereum, and Solana's Rally Doesn’t Guarantee Success for All Cryptocurrencies

## Bitcoin Touches a New All-Time High Near $77,000

**Bitcoin (BTC)** price rallied and reached a **new all-time high (ATH)** of **$76,849** following the US Federal Reserve’s **25 basis point (bps)** rate cut. This surge has set the stage for a potential move towards the **141.40% Fibonacci extension level** at **$78,777**.

At the time of writing, Bitcoin trades slightly higher, around **$75,900**. The **Moving Average Convergence Divergence (MACD)** indicator supports Bitcoin’s rise, signaling a bullish crossover, although the **Relative Strength Index (RSI)** at 70 suggests a cautious outlook due to overbought conditions.

![BTC/USDT daily chart](https://editorial.fxstreet.com/miscelaneous/BTCUSDT_2024-11-08_09-42-16-638666394349248211.png)

If BTC fails to maintain momentum and closes below **$73,777**, it may decline further to retest the significant level of **$70,000**.

## Ethereum Bulls Show Signs of Strength

**Ethereum (ETH)** also demonstrates strength, breaking above the key resistance level of **$2,820**, trading around **$2,911**. If this level holds, ETH could rally further to retest its weekly resistance at **$3,236**. The MACD indicator signals a bullish trend, while the RSI is trending upward at 68.

![ETH/USDT daily chart](https://editorial.fxstreet.com/miscelaneous/ETHUSDT_2024-11-08_09-51-08-638666394845301175.png)

Should the $2,820 support fail, ETH may decline to **$2,342**.

## Ripple Poised for a Rally

Meanwhile, **Ripple (XRP)** has broken above the **200-day EMA** at **$0.547**, trading slightly down around **$0.550**. If this level holds, XRP could extend its rally by **15%** to retest its daily resistance at **$0.626**. The MACD indicator also indicates a bullish crossover, with the RSI at **58**, suggesting growing bullish momentum.

![XRP/USDT daily chart](https://editorial.fxstreet.com/miscelaneous/XRPUSDT_2024-11-08_10-00-29-638666395418161295.png)

However, if the **200-day EMA** fails, XRP could retest its next key support at **$0.488**.

Bitcoin (BTC) price rallied and reached a new all-time high (ATH) of $76,849 following the US Federal Reserve’s 25 basis point (bps) rate cut. 

Bitcoin Soars to New Heights: Is $78,777 Next After Fed Rate Cut?

### Solana's Remarkable Surge

**Solana (SOL)**, the fourth-largest cryptocurrency by market cap, has surged to **$200** per coin for the first time in seven months, coinciding with **Bitcoin's** new all-time high price. According to [Coinbase](https://decrypt.co/price/solana), this represents a **7% increase** in the last 24 hours.

### Bitcoin's Record-Setting Performance

In comparison, Bitcoin has seen a **9% increase** over the past week, currently priced at **$76,250** after reaching a peak of **$76,872**. This new high breaks Bitcoin's previous record of **$73,737**, set on **Election Day** when **Donald Trump** appeared poised to secure a second term in office.

### Solana's Growth Trend

Despite its recent success, Solana remains approximately **23% down** from its all-time high of about **$260**, achieved in November 2021. Over the past week, SOL has jumped **18%**, making it one of the biggest winners among the top 20 cryptocurrencies.

### What Drives Solana's Rise?

Solana is a **layer-1 blockchain network** that facilitates the creation of tokens and **decentralized applications (dApps)**, including games and **decentralized finance (DeFi)** platforms. The native coin, SOL, is essential for transaction fees within the network.

The recent price surge is attributed in part to confidence that **spot Solana exchange-traded funds (ETFs)** will be approved under a Trump administration, contrasting with the previous SEC stance labeling it as an unregistered security. This optimism has led to increased trading activity and investments in **crypto tokens** this week.

### Political Influence on Cryptocurrency

Trump's return to the White House promises to bolster the digital asset industry, encouraging traders to invest heavily in cryptocurrencies. As the market reacts to these political shifts, Solana's performance continues to outpace that of Bitcoin and other top cryptocurrencies.

*Edited by [Andrew Hayward](https://decrypt.co/author/andrew-hayward)*

Solana is surging on increasing confidence that spot ETFs will be approved under a Trump administration, all while Bitcoin breaks records.

Solana Soars to $200 as Bitcoin Hits New Heights - What This Means for Crypto Investors

## State Police at Reading Warn of Bitcoin Scam

Recently, **state police in Reading** have issued a warning regarding a **Bitcoin scam** that is targeting unsuspecting victims. The scammers instruct their victims to **withdraw cash** from their bank accounts and **deposit it into Bitcoin kiosks**. Once the cash is deposited, the scammers gain access to the funds, leaving victims without their money.

![State Police Warning](https://www.readingeagle.com/wp-content/uploads/2023/02/PAStatePoliceWebstock.jpg?w=620)

Troopers emphasize the importance of being vigilant and aware of such scams, which exploit individuals' trust and lack of knowledge about cryptocurrency transactions. It is crucial for everyone to remain cautious and verify any requests for cash withdrawals and deposits into Bitcoin kiosks.

Originally Published: November 7, 2024 at 3:30 PM EST

The victims are told to withdraw cash from their accounts and deposit it in bitcoins kiosks that the scammers then access, troopers said.

Beware: State Police Issue Warning About Bitcoin Scam Targeting Victims

## A New Wave in Cryptocurrency

Donald Trump's return to the White House has generated excitement throughout the cryptocurrency market. 

![Trump Election Impact on Crypto](https://i.kinja-img.com/image/upload/c_fit,q_60,w_645/8b6d1cf471f608a2cf40abe79ee5a2ec.jpg)
*Photo: JTSorrell (Getty Images)*

### Ethereum's Rally

**Ether**, the second-largest cryptocurrency by market capitalization, has been rallying alongside Bitcoin. On Election Day, Ether was trading around **$2,400**, but it has surged to **$2,800** – a more than **16% bump** in just two days. 

Additionally, **spot Ether ETFs** (exchange-traded funds) have experienced renewed inflows following Trump's victory, reversing a period of sustained outflows. According to data from crypto ETF tracker **Farside**, investors poured **$52 million** into spot Ether ETFs on November 6.

![Ethereum Growth](https://i.kinja-img.com/image/upload/c_fit,q_60,w_645/f604fc9744913ff7f210cdc85d67644a.jpg)
*Illustration: BackyardProduction (Getty Images)*

### Solana's Significant Growth

**Solana**, regarded as a competitor to Ethereum, has experienced significant growth over the years, driven by its speed and efficiency. User activity on the Solana blockchain has surged, making it a popular platform for hosting decentralized applications. 

After Trump’s victory, the price of Solana surged from **$160** to **$196**, marking a **22.5% increase** in just two days.

![Solana Surge](https://i.kinja-img.com/image/upload/c_fit,q_60,w_645/5592f419976399a2b69914c54f860ddf.jpg)
*Illustration: Dennis Diatel Photography (Getty Images)*

Donald Trump's return to the White House has generated excitement throughout the cryptocurrency market.

Trump's Election Win Sparks Altcoin Surge: Discover 3 Rising Stars!

### Key Takeaways
- **Bitcoin** set another **all-time high** last night, rising above **$76,000** for the first time.
- The **Federal Reserve** is expected to **lower interest rates** today, which could further boost **bitcoin prices**.
- Spot bitcoin **ETFs** experienced **$621.9 million** of inflows on Wednesday, following the clear results of the **2024 U.S. presidential election**.

Bitcoin (**BTCUSD**) was briefly back above **$76,000** Thursday as investors await the **rate cut decision** by the U.S. Federal Reserve.

The largest cryptocurrency by market cap jumped to another **all-time high of $76,481** Wednesday amid optimism regarding the election results. Although it stumbled slightly in early trading Thursday, it quickly recovered, coming within striking distance of that level again.

The Fed is **expected** to cut interest rates by a **quarter of a percentage point** today. Historically, rate cuts have had a **positive impact on bitcoin prices**. Lower rates can lead to decreased Treasury and bond yields, making riskier assets like bitcoin more attractive to investors.

### Bitcoin ETF Flows Surge Amid Election Optimism
Donald Trump's victory in the recent presidential election and the promise of **more crypto-friendly regulations** from a pro-crypto Congress have positively influenced bitcoin prices recently. This optimism was reflected in strong inflows into **spot bitcoin exchange-traded funds (ETFs)**.

After the election results were confirmed, bitcoin ETFs saw **$621.9 million in net inflows** on Wednesday, according to data from Farside Investors. Nearly half of those inflows went into the **Fidelity Wise Origin Bitcoin Fund (FBTC)**, while **BlackRock's iShares Bitcoin Trust (IBIT)** experienced its first-ever two-day outflow streak.

Notably, **ether (ETHUSD)** ETFs also saw their fifth-largest day of inflows on Wednesday, totaling **$52.3 million**, though this was small compared to the bitcoin ETF flows.


Bitcoin was briefly back above $76,000 Thursday as investors await the rate cut decision by the U.S. Federal Reserve.

Bitcoin Surges Above $76K: What’s Next with the Fed Rate Cut?

NBA star **Scottie Pippen** recently shared an intriguing **dream encounter** with Bitcoin's creator, **Satoshi Nakamoto**. Pippen, a known advocate for Bitcoin, envisioned that the cryptocurrency would reach **$84,650** on **November 5**, coinciding with election day. However, the reality fell short of this prediction, with Bitcoin only rising to a peak of **$76,460** following **Donald Trump's** victory.

### What Happened
Pippen, widely celebrated as one of the greatest NBA players, has actively promoted Bitcoin through his social media channels. His dream, which stirred excitement in the Bitcoin community, was not intended as financial advice.

### Election Day and Bitcoin's Performance
On election day, Bitcoin experienced a significant rally but did not meet Pippen's forecast. The cryptocurrency's price was halted at **$76,460**, despite the bullish sentiment surrounding Trump's win.

### Market Predictions
Leading up to the elections, various analysts had made bold predictions for Bitcoin's price. For instance, **Standard Chartered** projected that Bitcoin could soar to **$125,000** if Trump won, while **Bernstein** estimated a range of **$80,000 to $90,000**. These predictions were fueled by the increasing expectations surrounding the market.

### Current Price Action
As of the latest update, Bitcoin was trading at **$74,605.01**, reflecting a slight decline of **0.14%** over the past 24 hours.

*Photo courtesy: Unsplash*

NBA star Scottie Pippen's &quot;dream encounter&quot; with Bitcoin (CRYPTO: BTC) creator Satoshi Nakamoto failed to hit the bull&#8217;s eye, as the leading cryptocurrency gained but didn't gain enough on election day.

Conservative Bitcoin Advocate Takes Legal Action Against Crypto Startup: What Happened?

Summary:

A Legal Battle in the Crypto Space

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