The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The answer to why institutional support is growing for bitcoin products and services is fairly simple: Wall Street found the money.

Inflationary pressures have once again come under the spotlight as the U.S. released its latest Producer Price Index (PPI) data on October 11, 2024, for the month of September.

Key Points:

Seasoned trader Peter Brandt is leaning bearish on Bitcoin (BTC) as the benchmark cryptocurrency hovers 17% below its all-time. New signals suggest BTC could be set for a steep downward move.

Bitcoin's (CRYPTO: BTC) recent price fluctuations won't deter crypto trader Astronomer Zero's bullish outlook on the crypto king supported by highly accurate signals. What Happened: Astronomer Zero stated that all his analyses are still valid despite the recent market fluctuations.

The crypto wallets of Mt. Gox still hold 2.8 billion dollars in Bitcoin awaiting distribution.

QCP Capital analysts remain optimistic about a potential "Uptober" rally for bitcoin, provided it maintains support above the $60,000 level.

Bitcoin's price has shown resilience by staying just above the $62,000 mark, despite uncertainty in the market. Minor fluctuations have kept the price within a predictable range, while traders and investors await a potential breakout. The key resistance level remains at $65,000, a psychological threshold that could signal new upward momentum if breached.

A closely followed crypto strategist is issuing a warning about Bitcoin (BTC) after the flagship digital asset dipped below the $60,000 range on Thursday. Pseudonymous analyst Credible Crypto tells his 424,500 followers on the social media platform X that Bitcoin needs to hold $58,000 as support to avoid plummeting much further.

MicroStrategy's Bitcoin bank ambitions could reshape financial markets, influencing corporate strategies and potentially driving Bitcoin's mainstream adoption. The post MicroStrategy stock soars 10% as it pursues Bitcoin bank ambitions appeared first on Crypto Briefing.

Bitcoin is at a crossroads right now, and whales might have something to do with it!

A recent HBO documentary has reignited discussions about Bitcoin's mysterious creator, Satoshi Nakamoto, with speculation that developer Peter Todd may be behind the pseudonym.

What are miners actually planning for going into the near term future?

An unexpected discussion about the title of the most notorious Bitcoin critic emerged today, sparked by Peter Schiff's commentary on a new documentary on HBO. Schiff, a widely recognized figure in the Bitcoin (BTC) community as a main antagonist of the cryptocurrency, was quick to point out his conspicuous absence from the film.

Bitcoin's post-CPI price action has been a remarkable show of strength from the bulls.

Buyers seem that they are not going to give up easily, according to CoinStats.

Mt. Gox now has another full year to repay billions of dollars in Bitcoin to users of the hacked exchange. Here's why BTC is now rising.

Mt. Gox-linked crypto wallets still hold $2.7 billion of bitcoin after having distributed nearly $6 billion worth of assets to creditors earlier this year, Arkham data shows.

As Schiff voiced discontent over his omission, the quest for Nakamoto's true identity grew ever more complex.

American multinational investment giant BlackRock has extended its lead as the world's dominant asset manager with an $11.5 trillion Asset Under Management (AUM) milestone. As revealed in its third-quarter earnings report, the company said its AUM jumped $2.4 trillion year-over-year, driven by net inflows of $456 billion and positive market movements.

MicroStrategy is the largest corporate Bitcoin holder, owning 1.2% of Bitcoin's 21 million supply, with a vision to evolve into a Bitcoin-focused merchant bank.

The price of major cryptocurrency Bitcoin (BTC) is once again the main attraction, as it always is, to be honest. New day, new reason, and this time it is the fact that the price has made its way back above the crucial level of $60,000 per BTC.

Bitcoin as a pillar of the transformation of MicroStrategy into a trillion-dollar company

In a recent interview, MicroStrategy's founder and executive chairman, Michael Saylor, unfolded his audacious vision for the company's future. He wants to make this company the largest Bitcoin bank.

TL;DR $1.61 billion worth of Bitcoin and Ethereum options are set to expire today, potentially causing market volatility. Maximum pain points are set at $62,000 for Bitcoin and $2,450 for Ethereum, indicating possible price movements. Analysts expect increased trading activity and new opportunities amid market uncertainty.

Key Points:

As the trade stepped into the last quarterly trade, the market dynamics were believed to turn bullish. The Bitcoin price was believed to regain $66,000 and further test the crucial resistance at $68,500, which would have paved the way for a new ATH.

Some "components of this cycle, such as altcoin seasons or bull runs, might have different timelines than we're used to seeing," an analyst said.

The recent court ruling affirms that the U.S. government holds rights to 69,370 Bitcoins, valued at approximately $4.38 billion, which were seized from the Silk Road dark web market.

Bitcoin has once again grabbed the spotlight, with exchange-traded funds (ETFs) seeing an extraordinary surge in investments. On October 8, Bitcoin ETFs attracted a remarkable $235.2 million in fresh inflows, signaling a growing appetite for the cryptocurrency.

Michael Saylor, co-founder and executive chairman of MicroStrategy, has taken to his account of the X social media network to issue a regular Bitcoin-themed tweet with an image. This time, however, the topic of his tweet is not only BTC.

The Bitcoin market continues to see a lot of noisy behavior, and this past week was just more of the same. Ultimately, this is a situation where the markets are going to continue to focus more on short-term moves.

Some investors are all-in on this cryptocurrency's potential future. Find out why, and what their bullish arguments mean for ordinary investors.

Crypto Market Today: The crypto industry has shown stability over the previous day, with the global market cap now sitting at $2.14 trillion. While, the investors remain cautious, as the Fear & Greed Index is at 37, signaling the presence of fear.

China to announce fresh fiscal stimulus measures on Saturday that could inject fresh liquidity into risk assets, including bitcoin, analysts said.

Bitcoin appears to take a hot PPI print in its stride after a 4% BTC price recovery.

A total of $1.1 billion worth of Bitcoin ($BTC) options are set to expire today, October 11, 2024, while an additional $510 million worth of Ethereum ($ETH) options contracts are to expire as well, injecting uncertainty into the cryptocurrency market that's already set to deal with a $1.3 billion earthquake.

Bitcoin is at a pivotal moment that could shape its price trajectory for the months ahead. Analysts are raising concerns over the cryptocurrency's current performance, especially as it approaches key support levels.

U.S. spot bitcoin exchange-traded funds (ETFs) faced another tough day, with all 12 funds experiencing outflows totaling $120.76 million. Meanwhile, the nine spot ethereum ETFs saw a different story, pulling in $3.06 million during the trading session.

Recent data from on-chain analytics platform CryptoQuant indicates that Bitcoin whales have accumulated approximately 1.5 million BTC over the past six months.

Cointelegraph spoke with Riot Platforms' Pierre Rochard and Metaplanet's Dylan LeClaire at the Bitcoin Amsterdam 2024 conference.

MicroStrategy, led by founder and executive chairman Michael Saylor, is positioning itself to become a leading player in the Bitcoin banking sector.

The crypto market is going through a turbulent period. Bitcoin is teetering below the $61,000 mark, sowing panic among individual investors.

Bitcoin (BTC)'s meteoric rise set the stage for the explosive growth of other digital assets like Dogecoin, which began as a meme and skyrocketed into a cultural icon. But while Dogecoin may have captured the headlines, market fluctuations are imminent for low-utility tokens.

The analyst suggests Bitcoin's relative inactivity could signal a bearish turn, based on past market cycles.

Bitcoin's (BTC) price movement has failed to excite investors as sideways trading has persisted. While the situation is not too bleak for the coin, it has failed to clear the next resistance levels and target the next highs.