Wallets associated with the defunct exchange Mt Gox, which is set to repay creditors in July, made two small transactions involving bitcoin. One transaction sent a small amount of funds to Bitbank, one of the five exchanges designated for making repayments to creditors. The other transaction sent funds to a new wallet. The transactions involved very small amounts of bitcoin and it is unclear whether they were test transactions for sending larger amounts. It is noteworthy that the bitcoin price has dropped over $10,000 in the last month ahead of the Mt Gox repayments. This drop could be attributed to several factors, including the recent market volatility and the uncertainty surrounding the impact of the repayments on the bitcoin market.

Wallets associated with Mt Gox made two transactions today, including a small movement of funds to an exchange designated for repayments.

Mt Gox Wallets Make Small Bitcoin Moves Ahead of Repayments - The Block

### Turkey as a Key Player in ISIS Funding

The indictment of **Mohammed Azharuddin Chhipa**, a 35-year-old Virginia resident, has uncovered Turkey's pivotal role in facilitating **illicit cryptocurrency transactions** that fund **ISIS operations** in Syria. Chhipa, originally from India, allegedly transferred over **$188,000** to ISIS, utilizing **Turkish intermediaries** and cryptocurrency for these transactions.

### The Cryptocurrency Scheme

According to FBI Special Agent **Gary T. Marosy**, the funds sent to ISIS often flowed through **Turkish brokers**, making use of the **difficult-to-trace nature** of cryptocurrency. The process involved sending cryptocurrency to couriers in Turkey, who then converted it into cash to smuggle into Syria without detection. Intercepted communications indicated that Chhipa was advised to route funds through Turkey to ensure safety and anonymity.

### Chhipa's Radicalization and Activities

Chhipa's radicalization began prior to his arrest, with the FBI flagging him in **2019** due to his social media accounts promoting violent jihadist messages. His communications revealed a strong support for ISIS and a desire to engage in violent acts. After attempting to flee the US in **2019**, he returned and continued his activities, even communicating with **ISIS women** in Syria who were involved in funding operations.

### Financial Transactions and Arrest

From **November 2019**, Chhipa began depositing cash into his bank account and converting it into cryptocurrency through services like **Coinbase** and **Binance**, sending substantial amounts to **ISIS wallets**. The FBI traced **over $18,000** sent to ISIS women in Syria and **$61,000** to Turkish wallets.

Chhipa was arrested on **May 4, 2023**, after the FBI placed him under surveillance due to his suspicious activities. He faces serious charges of providing material support to ISIS, which could lead to a **20-year prison sentence**.

### Turkey's Complicity in ISIS Operations

The case highlights the **Erdogan government's** apparent tolerance of ISIS activities within Turkey, with many suspects released during trials and few facing actual convictions. Reports indicate that during **2015-2016**, the Turkish intelligence agency MIT allegedly collaborated with ISIS to conduct bombings to maintain political power during election cycles. This troubling relationship raises significant concerns about Turkey's role in global terrorism funding.

![Mohammed Azharuddin Chhipa](https://nordicmonitor.com/wp-content/uploads/2024/09/Mohammed_Azharuddin_Chhipa.jpg)

![Allison Fluke-Ekren](https://nordicmonitor.com/wp-content/uploads/2024/09/Allison_Fluke_Ekren.jpg)

Turkey's Role in ISIS Cryptocurrency Funding Exposed: Shocking Indictment Unveils Dark Connections

Bitcoin has recently seen a **strong monthly close**, which may signal a potential rally for several altcoins like **XRP**, **TAO**, **RUNE**, and **SEI**. Despite failing to break above **$65,000**, the bulls have maintained their ground, indicating a strong buying interest.

### Bitcoin Overview
Bitcoin has held above the breakout level of **$65,000**, suggesting that buyers are confident in further price increases. The recent inflow of **$1.1 billion** into U.S.-based spot Bitcoin ETFs showcases a positive sentiment shift. The **Crypto Fear & Greed Index** has also shown a shift into the **greed territory** at **63** as of September 29.

![Bitcoin Price Chart](https://s3.tradingview.com/news/image/cointelegraph:086386b9c094b-ff07634912ac98e5639982cd382dd942-resized.jpeg)

### Bitcoin Price Analysis
The **20-day EMA** at **$62,650** is trending upwards, and the **RSI** indicates bullish momentum. A price increase from current levels could see Bitcoin rally towards **$70,000**, with potential resistance between **$70,000** and **$73,777**. Conversely, a dip below the **20-day EMA** may signal weakening bullish momentum.

### XRP Price Analysis
XRP is forming an **ascending triangle** pattern, with a breakout expected above **$0.64**. Should this resistance hold, XRP may rally towards **$0.74** and potentially reach **$0.90**. A drop below **$0.64** could indicate a bull trap, leading to a decline towards the **20-day EMA** around **$0.58**.

![XRP Price Chart](https://s3.tradingview.com/news/image/cointelegraph:086386b9c094b-d1d62d3ff53d6bf4e4b909108668f977-resized.jpeg)

### TAO Price Analysis
**Bittensor (TAO)** has closed above **$530**, with resistance at **$600**. A break above this level could lead to a rally towards **$640** and **$720**. However, a drop below **$530** may push the price back to **$489**.

![TAO Price Chart](https://s3.tradingview.com/news/image/cointelegraph:086386b9c094-4ffa69a1d136003e7952983182c4e178-resized.jpeg)

### RUNE Price Analysis
**THORChain (RUNE)** has closed above **$5**, suggesting a potential uptrend. A pullback to this breakout level could occur, but a strong rebound may push the price towards **$7**. However, if the price falls below **$4.66**, it could indicate a bear trap.

![RUNE Price Chart](https://s3.tradingview.com/news/image/cointelegraph:086386b9c094-0072bc75ee39d8f4a556b5c5b9630799-resized.jpeg)

### SEI Price Analysis
**Sei (SEI)** has broken above **$0.43**, suggesting bullish momentum. If it sustains above this level, it may rise to **$0.60** and further to **$0.70**. Conversely, a drop below **$0.43** could signal bearish control.

![SEI Price Chart](https://s3.tradingview.com/news/image/cointelegraph:086386b9c094-26bd74a9c710bc31e36ab9ff829ff280-resized.jpeg)

This article does not contain investment advice; readers should conduct their own research before making trading decisions.

Bitcoin BINANCE:BTCUSD has failed to run up following the breakout above $65,000, but a positive sign is that the bulls have not given up much ground. This suggests that the buyers are holding on to their positions as they expect the up move to extend further.The United States-based spot Bitcoin ex…

Could Bitcoin's Momentum Ignite a Surge in XRP, TAO, RUNE, and SEI? Here's What the Charts Say!

### Thai Extends VAT Exemption

Thailand has **extended the VAT exemption** for cryptocurrencies like **Bitcoin**. The new **Royal Decree 788** took effect on **25 September 2024**, and it continues the VAT exemptions for the transfer of digital tokens or cryptocurrencies through **licensed dealers and brokers** supervised by the **Securities & Exchange Commission**. This exemption will be applicable from **1 January 2024**.

Digital investment tokens have been exempt since **August 2023**.

### Thailand Falls in Line with the Rest of the World on VAT

The VAT treatment of cryptocurrencies varies significantly across major economies, reflecting differing views on their legal status:

- **European Union (EU)**: The **European Court of Justice** ruled in **2015** that cryptocurrency exchange services are considered financial transactions and are exempt from VAT. Buying or selling cryptocurrencies is VAT-free, although services like mining or consulting may still be taxable. An **EU VAT cryptocurrency review** is currently underway.

- **United Kingdom**: The UK follows the EU’s VAT exemption for cryptocurrency transactions. While cryptocurrencies used as a payment method for goods or services are subject to VAT based on the underlying value, trading in crypto itself remains VAT-exempt.

- **United States**: The U.S. does not impose a federal VAT, but state-level sales tax may apply. Cryptocurrencies are treated as property, meaning using them for purchases could trigger capital gains tax, but not VAT. Sales tax may still apply to goods and services bought with cryptocurrency.

- **Australia**: Cryptocurrencies are treated as digital property. While transactions involving cryptocurrencies are typically **GST-exempt** (similar to VAT), businesses must charge GST on goods and services bought using crypto.

- **Japan**: Since **2017**, Japan has exempted cryptocurrency transactions from consumption tax (its equivalent of VAT). Trading, buying, and selling cryptocurrencies are tax-free under Japanese consumption tax law.

- **Singapore**: Singapore considers cryptocurrencies as **intangible property**. Cryptocurrencies used as a payment method are exempt from **GST** (Goods and Services Tax), although GST may still apply to goods and services purchased using crypto based on their regular taxable value.

These policies showcase how various governments are adapting to the evolving role of cryptocurrencies in commerce.

Thailand has extended the VAT exemption of cryptocurrencies such as Bitcoin.

Thailand's Bold Move: Extended VAT Exemption for Cryptocurrencies! 

![Cryptocurrencies Rally After First Quarter Slump](https://specials-images.forbesimg.com/imageserve/66a2a4245bd719ddbb370846/Cryptocurrencies-Rally-After-First-Quarter-Slump/960x0.jpg?cropX1=0&cropX2=2977&cropY1=292&cropY2=1688)

When the **SEC** announced the approval of multiple **spot Ether ETF** products in July 2024, market sentiment was overwhelmingly positive. This marked a significant milestone as both **Bitcoin** and **Ether** received ETF approvals within the same year. However, the market response for Ether has been notably **muted** compared to the **dramatic price increases** witnessed by Bitcoin, which has maintained a substantial uptick despite ongoing volatility.

### Outflows and Underperformance

Ether ETFs have faced **substantial outflows**, including an alarming **$80 million outflow** in a single day— the highest since July 2024. In stark contrast, Bitcoin has surged over **50%** in 2024, while Ether has only managed a **15% increase**, failing to reach its previous all-time highs set in 2021. This contrast showcases that the launch of spot Ether ETFs has not generated the expected enthusiasm.

### Bitcoin's Dominance

Despite the rapid expansion of the crypto market, Bitcoin remains the **unquestioned leader** in both media and institutional discussions. **Bitcoin ETFs** have attracted billions, significantly boosting its price, whereas institutional investors continue to prioritize Bitcoin, as seen with companies like **Microstrategy** and **Blackrock** focusing solely on Bitcoin investments.

### The Narrative Gap

The narrative surrounding Bitcoin has remained consistent and compelling, often presented as **digital gold** or a **store of value**. In contrast, Ether has struggled to establish a clear and consistent narrative that resonates with mainstream investors. While Ethereum serves as the backbone for many key applications in the crypto space, its messaging has not captured the same level of institutional interest.

### Price Paradox of Ether

Ether's role as a currency for numerous **Layer 2 applications** brings about a **price paradox**. Serving both as a medium of exchange and an investment asset, Ether faces downward price pressure due to its usage in various applications including **stablecoins**, **DeFi**, **DAOs**, and **NFTs**. This paradox, coupled with the muted market response post-ETF approval, suggests that institutional preference will likely remain skewed towards Bitcoin for the foreseeable future.

Crypto ETFs represent a positive advancement for the sector, yet they do not all yield equal returns.

Not all ETFs have delivered the expected returns 

Why Ether ETFs Are Struggling While Bitcoin Soars: Unveiling the Disparities

### Bitcoin's Recent Surge
The price of the **OG cryptocurrency** has pushed higher in recent weeks, as a perfect storm looks set to hit Bitcoin and the broader crypto market in the near term. BTC broke out of its downtrend this week to reclaim the **$65K** level after the U.S. Federal Reserve’s mid-September rate cut and the world’s largest asset manager winning approval for a new game-changing Bitcoin product.

The BTC price is up **9.4%** over the past 14 days, despite September being a historically negative month for the benchmark crypto. Now, traders are betting on Bitcoin skyrocketing to the coveted **$100,000** mark before the end of the year.

### BTC Poised For Tremendous Upside
Bitcoin is likely heading toward a **six-figure valuation** by the end of 2024. Well-known crypto analyst **Michaël van de Poppe** observed in a recent X post that the price of Bitcoin could appreciate by over **54%** from its current levels to as high as **$100,000**. Van de Poppe believes the lowered interest rates in the US and the subsequent **China stimulus plans** are bullish catalysts for BTC and other cryptocurrencies. This cycle could further strengthen Bitcoin’s appeal as a hedge against the government’s relentless money-printing policies.

He also noted that Bitcoin’s traditional safe-haven rivals, **gold and silver**, have been on a roll recently, suggesting a major surge for BTC is on the horizon. Given historical precedent, Bitcoin should ultimately follow the precious metals higher.

> “Gold continues to push higher, while silver has reached the highest price level in a decade. Global liquidity is significantly increasing and altcoins have barely started,” the crypto trader wrote. “Before the end of the year, we’re likely seeing Bitcoin trading between **$90,000-$100,000**.”

Bitcoin is currently looking to flip the resistance zone at **$65,000**. If $65K can be flipped into support, Bitcoin could be on the path to new lifetime peaks.

### Weakening US Dollar Strengthens Bitcoin Bull Case
In the meantime, Bitcoin seems unperturbed by the escalation of **Middle East hostilities** while the US dollar’s decline gains speed. The **US dollar index (DXY)** recently slumped to its lowest levels in over 12 months, nearly reaching the crucial **100 zone**.

“A major breakout of the Dollar Index multi-year support is happening on the monthly timeframe,” investor and analyst **Titan of Crypto** remarked on X yesterday. “This is highly significant. As you may know, the Dollar Index and risk assets like BTC are inversely correlated. **Crypto is ready to fly soon!**”, 


The price of the OG cryptocurrency has pushed higher in recent weeks as a perfect storm looks set to hit Bitcoin and the broader crypto market in the near term. BTC broke out of its downtrend this week to reclaim the $65K level after the U.S. Federal Reserve’s mid-September rate cut and the world’s…

Why Bitcoin Could Soar to $100,000 by Year-End: Expert Insights and Market Trends

Bitcoin (BTC) whale wallets, some dating back to the era of its creator Satoshi Nakamoto, have recently shown signs of activity. Here’s what you need to know:

### Significant Whale Activity
- **Bitcoin wallet active again after nearly 11 years**: A wallet containing **150 BTC** (approximately **$9.8 million USD**) was activated on **September 28**. This wallet transferred BTC to two different addresses about **22 hours ago**.
- **Bitcoin miner wallet addresses from the Satoshi era** have also resumed activity, either **taking profits** or **transferring funds**.

### Current Market Status
- Bitcoin is trading at **$65,647**, maintaining its position above the crucial **$65,000 support** level as of Sunday.
- Over the past week, **over $16 million** in Bitcoin was moved, indicating active participation from wallets dormant for more than **15.5 years**.

![Bitcoin whale wallet](https://editorial.fxstreet.com/miscelaneous/Screenshot%202024-09-29%20at%209.11.03%20PM-638632219709120398.png)

### Insights from the Blockchain
- **Whale Alert** data reveals that **5 miner wallets** transferred **250 BTC** (around **$15.9 million**) within a single hour. These wallets originally received **50 BTC** (approximately **$3.18 million**) as mining rewards back in **2009**.
- The motivations behind these transactions remain unclear; they could be profit-taking or simply moving funds to different addresses.

### Performance Metrics
- In the past week, Bitcoin has shown a **3.81% gain**, and a **10.79% increase** over the past month, reflecting **bullish** market sentiment.

Bitcoin remains the largest cryptocurrency by market capitalization, serving as a decentralized form of money that is not controlled by any single entity, thus eliminating the need for third-party involvement in transactions.

Bitcoin (BTC) whale wallets from the time when creator Satoshi was still online have recently noted activity. 

Bitcoin Whale Wallet Awakens After 11 Years: What It Means for the Market

Michael Saylor, **co-founder and chairman of MicroStrategy**, has once again made headlines in the cryptocurrency world with a striking prediction regarding Bitcoin. In a recent tweet, he stated that **"99% of Bitcoin will be mined by January 2, 2035."**

Currently, **19,760,384 BTC** has been mined, which is **94.10%** of the total maximum supply of **21 million BTC**. This leaves approximately **1,239,588 BTC** yet to be mined. Saylor's forecast suggests an acceleration in mining activities, indicating that nearly **5% more** of Bitcoin's maximum supply will be mined in the next decade.

If this prediction comes true, it could lead to 99% of Bitcoin's total supply being in circulation much earlier than anticipated. Historically, market analysts believe the last Bitcoin will be generated by **2140**. This scarcity of Bitcoin could significantly impact its market dynamics, potentially driving prices higher as demand outstrips supply. As more Bitcoin is mined, the **economic landscape for miners** may shift, as the rewards for mining new blocks will decrease.

**Bitcoin Price Action**  
Recently, Bitcoin reached a high of **$66,550** in Friday's trading session, marking its highest level since early August. After peaking early Sunday at **$65,988**, it settled at **$65,636**, reflecting a **0.09% increase** over the past 24 hours.  
September has been a promising month for Bitcoin, with prices up more than **11.31%** compared to an average **5.9% loss** seen in previous Septembers over the last decade. Analyst **Ali Martinez** suggests that if Bitcoin ends September positively, the final quarter could witness even more significant gains.

Michael Saylor Epic 99% Bitcoin Prediction Stuns Crypto Community

Mt Gox Wallets Make Small Bitcoin Moves Ahead of Repayments - The Block

Summary:

Comments

Subscribe our Newsletter

BitcoinToday.app

Other Latest News

Turkey's Role in ISIS Cryptocurrency Funding Exposed: Shocking Indictment Unveils Dark Connections

Could Bitcoin's Momentum Ignite a Surge in XRP, TAO, RUNE, and SEI? Here's What the Charts Say!

Thailand's Bold Move: Extended VAT Exemption for Cryptocurrencies!

Why Ether ETFs Are Struggling While Bitcoin Soars: Unveiling the Disparities

Why Bitcoin Could Soar to $100,000 by Year-End: Expert Insights and Market Trends

Bitcoin Whale Wallet Awakens After 11 Years: What It Means for the Market

Michael Saylor's Bold Prediction: 99% of Bitcoin to Be Mined by 2035!

Other Latest News

Turkey's Role in ISIS Cryptocurrency Funding Exposed: Shocking Indictment Unveils Dark Connections

Could Bitcoin's Momentum Ignite a Surge in XRP, TAO, RUNE, and SEI? Here's What the Charts Say!

Thailand's Bold Move: Extended VAT Exemption for Cryptocurrencies!

Why Ether ETFs Are Struggling While Bitcoin Soars: Unveiling the Disparities

Why Bitcoin Could Soar to $100,000 by Year-End: Expert Insights and Market Trends

Bitcoin Whale Wallet Awakens After 11 Years: What It Means for the Market

Michael Saylor's Bold Prediction: 99% of Bitcoin to Be Mined by 2035!