The digital rupee could squeeze cryptocurrencies in India According to local media reports, Indian regulators are considering banning private decentralized cryptocurrencies such as Bitcoin in favor of central bank digital currency (CBDC). Officials consider CBDC safer for paying subsidies to the public and are wary of private stablecoins, especially those pegged to gold. The digital rupee was launched first in the wholesale and then retail segments in late 2022, and already includes more than 5 million users and 16 participating banks. The decision to ban private cryptocurrencies has not yet been made, but is being actively discussed by the authorities.

🛠 Russia Pushes for BRICS Digital Currency as Trade Shifts: Russia is leading the push for a BRICS digital currency, aiming to facilitate international trade and reduce reliance on traditional financial systems. This move could reshape the global crypto landscape and enhance digital currency adoption in BRICS nations. 💼

⚡ Bitcoin Self-Custody Calls Intensify as Centralization Grows: 'No One Is Ready for the Biggest Hack in History' 💙 With self-custody and third-party custodians becoming hot topics within the crypto community, the founder of timechainindex, an X user known as Sani, recently posted an eye-opening image of onchain data. The snapshot revealed that Coinbase currently holds 11.72% of the total 19.77 million bitcoin (BTC) in circulation. Sani’s data and insights emphasize the risks tied to such a large concentration of bitcoin, pointing out that the massive amount held by the San Francisco-based crypto giant creates an enticing ‘honey pot’ for cyber criminals.

🇺🇦 Bitcoin Technical Analysis: BTC Faces Critical Resistance Above $69.5K 🎁 On Oct. 21, 2024, bitcoin is trading at $68,322, supported by a market cap of $1.35 trillion. The cryptocurrency saw a 24-hour trading range between $68,145 and $69,431, with a trading volume reaching $28.79 billion. Technical indicators from multiple time frames present a mixed picture, highlighting crucial entry and exit points for traders.

🪙 The Next Big Leap for Bitcoin Miners: What it Takes to Reach $100 Hashprice 🎙 Before bitcoin’s fourth halving, the crypto asset soared to a peak of $73,794 on March 14, as recorded on Bitstamp. During the period from March 10 to April 10, bitcoin’s hashprice—representing the estimated daily earnings for 1 petahash per second (PH/s)—fluctuated between $105 and $125 per PH/s. Fast forward to this week, and as BTC hovers around $68.5K to $61.2K, the hashprice has bounced around between $47.88 and $53 per PH/s. Considering the impact of the fourth halving and increased

⚡️Open Interest in #BTC Futures Hits an All-Time High! CryptoRank reports that open interest in BTC futures on exchanges is at a record high. This increase signals growing interest from traders, but it doesn’t necessarily mean that everyone is going long 🙂

🕯 $556M in spot Bitcoin ETF inflows signals major shift in investor sentiment 🔥 Spot Bitcoin exchange-traded funds (ETFs) in the witnessed their most significant single-day inflows in over 120 days on Oct. 14. ☀️ With more than half a billion dollars pouring into the funds, Bitcoin’s $68,444 price topped $67,800 — its highest in more than three months.

🪙 Bitcoin now has $1T ‘market cap lead’ over ETH amid $68K price 🪙 BTC $68,410 market capitalization has reached $1.35 trillion, now over $1 trillion more than the number two cryptocurrency, Ethereum, amid BTC’s price trading just above $68,000. 📂 The 8.9% rise in Bitcoin’s market cap — the total value of all virtual issued money — since Oct. 12 has sparked further speculation that Bitcoin has plenty of upward momentum left.

🌐 Ripple’s XRP Sees Investor Optimism Post-SEC Lawsuit: Ripple’s XRP has jumped 9.1% following the conclusion of its SEC lawsuit ⚖️. Investor sentiment is rising as Ripple develops new projects like the RLUSD stablecoin. 🏦 Analysts expect further gains if regulatory clarity is maintained. 📊

🪙 #Bitcoin ETFs have massively out performed the launch of gold ETFs in their first year. BULLISH! 🚀