### **Market Overview**
Stocks (^DJI, ^IXIC, ^GSPC) are ending the week on a **positive note**, recovering some losses after a turbulent period on Wall Street. 

### **Big Tech Rotation**
Yahoo Finance reporter **Jared Blikre** analyzes the **ongoing market rotation** out of **Big Tech** and into **small caps**. This shift signifies a major change in investor sentiment and strategy, reflecting a desire for more **diversified investment** opportunities. 

### **Japanese Yen Performance**
The **Japanese yen** has also shown notable performance, impacting global market dynamics. Investors are closely monitoring its fluctuations as they can influence various asset classes, including cryptocurrencies.

### **Bitcoin Price Action**
**Bitcoin's (BTC-USD)** recent price action is a focal point of discussion. As the market evolves, Bitcoin continues to capture attention, with analysts predicting potential volatility as investors react to broader market trends. 

For more expert insight and the latest market action, click here to watch this full episode of **Asking For A Trend**.

Stocks (^DJI, ^IXIC, ^GSPC) are ending the week on a positive note, recouping some losses after a turbulent period on Wall Street. Yahoo Finance reporter Jared Blikre analyzes the day's top trading takeaways, examining the ongoing market rotation out of Big Tech and into small caps, the Japanese yen's performance, and bitcoin's (BTC-USD) recent price action. For more expert insight and the latest market action, click here to watch this full episode of Asking For A Trend. This post was written by Angel Smith

Market Shifts: Bitcoin and Tech Stocks on the Rise!

## Bitcoin's Unique Position in the Market

Bitcoin offers **unique convexity potential**, acting as both a **store of value** and a **tech asset**. With the current macroeconomic conditions at a crossroads, it stands out as a compelling investment opportunity.

### Analyst’s Disclosure
**I/we have a beneficial long position in the shares of BTC-USD** either through stock ownership, options, or other derivatives. This article reflects my personal opinions and is not influenced by any business relationships.

### The Current Economic Climate
As the economy faces uncertainty, many investors are looking for **assets that can withstand market volatility**. Bitcoin's dual nature makes it an attractive option for those seeking both security and growth.

### The Bullish Outlook for BTC-USD
Given the unique characteristics of Bitcoin, I am **very bullish on BTC-USD**. The potential for significant returns combined with its role as a hedge against inflation makes it a valuable addition to any investment portfolio.

### Important Considerations
While Bitcoin presents opportunities, it is essential to remember that **wherever there is the potential for profit, there is also the possibility of loss**. Investors should conduct thorough research and consider their risk tolerance before investing in cryptocurrencies.

### Seeking Alpha's Disclosure
Past performance is no guarantee of future results. This article is for educational purposes only and should not be construed as investment advice. Always consult with a financial advisor before making investment decisions.

Bitcoin offers unique convexity potential, acting as both a store of value and a tech asset. Find out why I'm very bullish on BTC-USD.

Why Bitcoin is Poised to Thrive in Today's Economic Landscape

## Metaplanet's Aggressive Bitcoin Strategy

**Tokyo-listed investment firm Metaplanet** has made headlines by more than **doubling its Bitcoin holdings** this October, acquiring over **450 BTC** in just one month. This aggressive acquisition strategy has resulted in a **profit of approximately $581,000** from their Bitcoin investments.

![Metaplanet's Bitcoin Profit](https://cryptoslate.com/wp-content/uploads/2024/10/shinto-tori-gate-bitcoin-768x403.jpg)

On **October 15**, CEO Simon Gerovich announced the purchase of **106.976 BTC** for **1 billion yen** (around **$6.7 million**), averaging **$62,520** per coin. This was part of a broader strategy to accumulate Bitcoin, which began on **October 1** with the acquisition of **107.91 BTC** for **approximately $7 million**. They continued this trend by buying an additional **23.97 BTC** through put options on **October 3**.

Further purchases included **108.786 BTC** on **October 7** and another **108.999 BTC** on **October 11**, each costing about **$6.7 million**. By mid-October, Metaplanet's total Bitcoin holdings reached **855.5 BTC**, valued at over **$56.1 million**.

### Impact on Stock and Market

The surge in Bitcoin purchases has positively affected Metaplanet's stock, which saw a **15% increase** to **1,107 yen**. Year-to-date, the stock has skyrocketed by approximately **500%**. 

As Bitcoin's price rose nearly **2%** recently, reaching **$65,654**, Metaplanet's strategy to adopt Bitcoin as a reserve asset is proving beneficial, especially as they now hold the **second-largest Bitcoin stash** among Asia-listed companies, following **Meitu**.

### Competitive Landscape

Metaplanet's approach mirrors that of **MicroStrategy**, which leads as the largest public holder of Bitcoin globally. As Bitcoin continues to recover from dips below **$60,000**, Metaplanet's proactive strategy places them at the forefront of the cryptocurrency investment wave in Japan.

Japan-based Metaplanet doubles Bitcoin holdings in October, sees stock surge by 15% during the last 24 hours.

Metaplanet's Bitcoin Bonanza: How Japan's Firm Made $581K in Just One Month!

September is typically seen as a challenging month for **Bitcoin (BTC)** and the broader cryptocurrency market. However, this year, Bitcoin managed to defy expectations by **rising over 7%** and maintaining the crucial psychological barrier of **$60,000**. In contrast, a lack of clear market direction led to a significant decline in investor activity and trading volumes across the top 10 largest crypto exchanges, which saw an average drop of **20%**.

## Spot Volume of Leading Crypto Exchanges at Lowest Since November 2023
According to recent analysis by **Finance Magnates Intelligence**, the total spot volume for the ten largest centralized exchanges in September was **$715 billion**, representing a **20% decrease** from over **$909 billion** reported the previous month. This volume is the lowest recorded this year and not seen since November 2023 when it was **$671 billion**, coinciding with Bitcoin's price being nearly half at about **$35,000**.

![Crypto Spot Volumes September 2024](https://images.financemagnates.com/images/Crypto%20spot%20volumes%20September%202024_id_e5bf7964-6bdd-47a1-a133-cd656a5b536d_size50.jpg)

The drop in trading volume aligns with the typical seasonal trends that often see reduced activity during this period, as noted by **CCData** in their latest report.

## Binance Still Dominates, Upbit Jumps into Top Five
Among the exchanges, **Upbit** was the only one to break the downward trend, experiencing a **5% increase** to **$46.5 billion**, thereby surpassing **Coinbase**, which suffered a **31% decline** to **$46.4 billion**. 

![Exchange Volume Comparison](https://images.financemagnates.com/images/Crypto%20spot%20volumes%20September%202024_id_7ce2bb06-2d62-416e-9aae-495edd7b7ef2_size50.jpg)

As for the top three exchanges, the rankings remain unchanged, with **Binance** holding nearly **50% market share**, followed by **ByBit** and **Huobi**.

## Better Results Compared to September 2023
Despite the less-than-optimistic results from September 2024 compared to the previous month and the last 10 months, they show a **68% increase** year-over-year from **$401 billion** recorded the same time last year. Upbit leads this growth with a staggering **250% increase**, rising from **$35 billion** to over **$123 billion**.

![Year-over-Year Growth Comparison](https://images.financemagnates.com/images/Crypto%20spot%20volumes%20September%202024_id_92f3dfca-6184-4b48-895a-f789dd330d7b_size50.jpg)

What lies ahead in October? With Bitcoin rising above **$64,000** and the upcoming **US presidential elections**, we may see increased volatility in the cryptocurrency market. Historically, **Q4** has recorded the highest quarterly volumes in six of the last ten years, suggesting a potential uptick in trading activity and volumes as we move forward. Only time will tell how this will unfold.

Bitcoin defies September trends, rising 7%, but crypto spot volumes hit 10-month lows. Explore the shifting landscape of major exchanges and market activity in this comprehensive analysis.

Bitcoin Defies September Trends: A Surge Amidst Plummeting Crypto Spot Volumes

### A New Approach to Bitcoin
The world of blockchain technology is often seen as highly technical, leaving children overlooked. **Mario Davis** aims to change this narrative with his **Catoshi Nakameowto** children's book series, which introduces Bitcoin to a younger audience in a fun, engaging manner.

### The Catoshi Series
Davis's books combine **humor** and **life skills**, making complex concepts accessible to kids. One of the main characters, **Catoshi Nakameowto**, is described as "the greatest business cat in the world who’s all about blockchain technology." He has even created the world’s first **purr-to-purr electronic catnip system**!

### Sparking Curiosity
While the series doesn’t dive deep into the intricacies of blockchain, it provides a broad overview of this revolutionary technology, aiming to spark curiosity in young minds about the future of technology.

### A Diverse Conference
Davis stood out at the **London Blockchain Conference**, where he mingled with tech visionaries and Bitcoin enthusiasts. In contrast, **Staffan Nordstrand**, another author at the event, focuses on the financial industry and fraud in his books. He noted that his audience typically differs from the tech-savvy crowd at blockchain conferences.

### Engaging with the Audience
Despite the differences in audience, both authors found success at the conference. Nordstrand commented on the unusual setting but managed to sell over **50 books in just three hours**. The event illustrated the diverse ways authors are engaging with the world of blockchain and cryptocurrency.

### Watch the Fun Unfold
Check out the video below to see more about the exciting discussions at the conference!  
<iframe src="https://108.181.11.175/embed/3kbsiJM66bk?feature=oembed" frameborder="0" allowfullscreen></iframe>  

### Another Perspective
For a different take on blockchain, watch Staffan Nordstrand discuss his findings on fraud in the financial industry.  
<iframe src="https://108.181.11.175/embed/-MD_A3PK8VQ?si=TVEEVguELv6rV0D1&controls=0" frameborder="0" allowfullscreen></iframe>

Mario Davis’ Catoshi Nakameowto children’s book series to introduce a younger audience to Bitcoin, combining it with fun, humor, and life skills.

Meet Catoshi Nakameowto: The Fun Way to Introduce Kids to Bitcoin!

Despite recent market struggles, **Bitcoin** has shown remarkable resilience, breaking through **critical resistance levels**. On October 14, Bitcoin reached a **daily high of $66,288**, reigniting optimism among traders regarding the "**Uptober**" thesis.

### Key Metrics Indicate Bullish Momentum

According to the latest **Bitfinex Alpha report**, key on-chain metrics suggest that Bitcoin could continue to rally after clearing the **$63,000 resistance**. Currently, Bitcoin is trading at **$65,854**, reflecting a **4.8% increase** in the last 24 hours.

The **realized price of unspent transaction outputs (UTXO)** is an essential market indicator, used to segment Bitcoin holders by their average acquisition prices. Historically, significant thresholds for short-term and mid-term holders have indicated bullish or bearish trends based on whether Bitcoin can maintain trading above these levels. 

### Market Resilience Amidst Volatility

The recent price movement occurred despite Bitcoin's drop to **$58,943** the previous week. This volatility was largely driven by spot selling on centralized exchanges, particularly **Coinbase**, where the selling pressure intensified as prices dipped below **$59,000**. However, the market demonstrated resilience, leading to a recovery without widespread panic selling.

### Current Market Data

As of **10:55 pm UTC on October 14, 2024**, Bitcoin boasts a market capitalization of **$1.3 trillion** with a 24-hour trading volume of **$42.09 billion**. The overall crypto market is valued at **$2.29 trillion**, with Bitcoin dominance at approximately **56.86%**. 

![Bitcoin Rally](https://cryptoslate.com/wp-content/uploads/2024/10/bitcoin-up-768x403.jpg)  
*Image via CryptoSlate*  

Despite the bullish indicators, it is crucial for Bitcoin to maintain a solid daily close above **$63,000** to encourage further upward momentum. Failing to do so could lead to a drop back to the **$55,000** range, indicating that while the market shows promise, caution remains prudent.

Despite last week's woes, the market showed resilience and propped Bitcoin to break the importante resistance.

Bitcoin Breaks $63,000: Is a Bullish Rally on the Horizon?

### **The Bizarre Case of James Howells**  
**James Howells**, a software engineer from Wales, has found himself in the headlines for a **bizarre incident** that dates back to **2013**. He accidentally discarded a hard drive containing **8,000 Bitcoins**, which is now valued at over **$514 million**.  
  
### **What Happened?**  
In a desperate attempt to recover his lost fortune, Howells has filed a **lawsuit against Newport City Council** for approximately **£495.31 million** (around **$647 million**). His lawsuit stems from the council's repeated refusals to allow an **excavation of the landfill** where the hard drive is believed to be buried.  
  
Howells clarified that this legal action is more of a strategy to persuade the council to permit the excavation rather than a reflection of the actual situation.  
  
### **Plans for Recovery**  
He has organized a team of specialists ready to carry out the excavation at **no cost** to the council, and he has even proposed to share **10% of the recovered Bitcoin's value** with them.  
  
### **Council's Response**  
The Newport Council has labeled the lawsuit as **“weak”** and has expressed concerns about the potential **environmental impacts** of the excavation.  
  
### **Why It Matters**  
This case highlights the **peculiar intersection of technology and law** in the world of cryptocurrency. The incident not only emphasizes the **volatile nature of Bitcoin** but also raises questions about the **responsibility of local councils** in such unique situations.  
  
As of the latest updates, the value of **8,000 Bitcoins** stands at **$514.37 million**, with the market price at **$64,296.34 per unit**.

James Howells, etched in the history books for accidentally discarding Bitcoin (CRYPTO: BTC), which is worth more than half a billion dollars today, took a major step in retrieving them. What Happened: In a last-ditch effort, the Wales-based software engineer filed a lawsuit against Newport City Council for roughly 495.31 million British pounds, or about $647 million, in damages for repeatedly denying his request to excavate the landfill site housing the discarded hard drive, which contains arou

Lost Fortune: Man Sues City Council Over $647 Million Bitcoin Hard Drive in Landfill

### Neel Kashkari's Perspective on Bitcoin
Minneapolis Fed President **Neel Kashkari**, known for his critical stance on Bitcoin, recently expressed his views on the cryptocurrency's relevance after over a decade in existence. Kashkari stated that despite its longevity, Bitcoin remains **useless** in practical terms.

### High Risk Warning
> **High risk warning:** Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

### Advisory Warning
> **Advisory warning:** FOREXLIVE™ is not an investment advisor. It provides references and links to selected news, blogs, and other sources of economic and market information for informational purposes. Clients are advised to carefully consider the opinions and analysis offered in these sources in the context of their individual analysis and decision-making.

### Disclaimer
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Minneapolis Fed President Neel Kashkari (not a BTC fan)

Market Shifts: Bitcoin and Tech Stocks on the Rise!

Summary:

Market Overview

Big Tech Rotation

Japanese Yen Performance

Bitcoin Price Action

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Other Latest News

Why Bitcoin is Poised to Thrive in Today's Economic Landscape

Metaplanet's Bitcoin Bonanza: How Japan's Firm Made $581K in Just One Month!

Bitcoin Defies September Trends: A Surge Amidst Plummeting Crypto Spot Volumes

Meet Catoshi Nakameowto: The Fun Way to Introduce Kids to Bitcoin!

Bitcoin Breaks $63,000: Is a Bullish Rally on the Horizon?

Lost Fortune: Man Sues City Council Over $647 Million Bitcoin Hard Drive in Landfill

Fed's Neel Kashkari Claims Bitcoin is Still Useless After a Decade

Other Latest News

Why Bitcoin is Poised to Thrive in Today's Economic Landscape

Metaplanet's Bitcoin Bonanza: How Japan's Firm Made $581K in Just One Month!

Bitcoin Defies September Trends: A Surge Amidst Plummeting Crypto Spot Volumes

Meet Catoshi Nakameowto: The Fun Way to Introduce Kids to Bitcoin!

Bitcoin Breaks $63,000: Is a Bullish Rally on the Horizon?

Lost Fortune: Man Sues City Council Over $647 Million Bitcoin Hard Drive in Landfill

Fed's Neel Kashkari Claims Bitcoin is Still Useless After a Decade