🔴 Bitcoin on the Verge of Death: Episode 2024

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GM, we`re back on the front lines.

Yet another do-or-die moment for Bitcoin and the rest of crypto markets is here. The Octobear memes are pouring in with every $50 drop in BTC. Spoiler alert: it’s only October 3rd.

To be honest, there’s some legitimate cause for concern here. The dollar index is rallying with a three-day bullish divergence, while equities are clinging to support, printing weekly bearish divergences.

Of course, this situation can change on a dime, and the timeline is currently almost completely flipped from the Uptober vibe into the good old it`s all-over vibe. 

The silver lining? Crypto Capo is calling for a dip to $48K, so we might just end up all right.

Let’s not forget: Uptober’s action usually kicks in a few weeks into the month. Check the stats and stay unleveraged until we get a clearer signal.

On a personal note, I`m not convinced it`s over. What I do see, though, is a need to destroy everyone`s dreams (again) before actually running up the Uptober meme (again). 

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Aura/SOL Raydium 4H Log Chart

Aura is a Zoomer meme with a lot of TikTok attention. If retail is coming back as global liquidity ascends to new highs, we need to be looking out for the coins that resonate with new entrants.

PA is super strong today amidst the market-wide sell-off. Price looks to be building a rising wedge, which should mean we return to the highs and potentially break higher than that as November runs its course. RSI is reclaiming 50, and the Awesome Oscillator is flipping bull—as always, this is a high hit rate signal. 

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

Crypto Mining is Back with Tari

Proof-of-Work chains just hit different, and it’s been a minute since we’ve had fun mining crypto coins. But Tari is bringing it back right now with their user-friendly Tari Universe.

As of today, Tari has launched its first rewarded mining program on testnet. So, how do we participate and get some GEMS rewards plus testnet tXTM coins? 

• Download Tari Universe for Windows or Mac

• Hop into Tari Discord and get an invite code from the community 

• Earn 5000 GEMS instantly at the start of your mining 

• Earn 25 GEMS for every 1 tXTM mined

• Share your invite code from Tari Universe and earn 5000 GEMS for every successful invite

Lastly, if you run into problems and your CPU won`t start mining, it is advised to close all other applications and restart the process. 

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The important bits.

• GenLayer (First intelligent blockchain) - GenLayer Meetup on Oct 16th coming up 

• EOS (L1) - Staked EOS reached new all-time-highs

• Peapods Finance (DeFi) - Introduces Leveraged Volatility Farming (thread)

• Skale (L2) - Partners with Supernova Group

• Hyperliquid (L1) - Reached 3 Billion in Volume in the last 24 hours

• Velo (Crypto data) - Releases live ETF flow dashboard

• Concave (DeFi) - Made 40x on $300k Berachain investment

• Thruster (Blast DeFi) - Announces launch for October 9

Even more important bits.

• Bank of America is down, and customers are reporting seeing $0 balances

• Over $750 Million Stolen in Crypto Last Quarter Despite Drop in Hack

• Total US debt explodes to $35.7 trillion on Oct 1

• XRP weakens as SEC's appeal overshadows Bitwise's ETF application

• Argentina VP asked El Salvador’s President Bukele about Bitcoin

• U.S. congressman Ro Khanna supports establishing a BTC Strategic Reserve

• Saylor: "Bitcoin's the most certain thing in an uncertain world."

• LayerZero Labs and Eigen Labs has teamed up to enhance cross-chain transaction security

Life gets busy so here’s what you’ve missed.

TOP Airdrops for your radar, as picked by us.

Research

Our resident airdrop sleuth, Ollie, has listed some upcoming airdrops to be optimistic about and how to get them.

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To save you doom scrolling.

War isn`t nice (fuck war, actually). But, when it comes to risk assets, we might want to reconsider getting overly bearish for now…

We`re currently at the end of the longest bull market BTC chop-solidation in history. Somehow, it almost feels like this time is different. Did ETFs really break the 4-year Bitcoin cycle?

Or is this just another case of the market, a.k.a, the Operator, making us believe things that aren`t real? If that`s the case, it wouldn`t be the first time this happened. Which means… it`s literally the same as always.

Stay tuned; interesting times ahead.

stay safe homies,

Hix0n 🫡