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Crypto Roundup - September 27

Bitcoin has surged past $66,000, spurred by positive inflation data, drawing increased interest from both institutional and retail investors. Meanwhile, MicroStrategy's 2x leveraged ETF has seen significant inflows, outperforming Bitcoin in its first week of trading, adding to the growing confidence in Bitcoin-related products. Additionally, BlackRock has highlighted Bitcoin's unique qualities, suggesting that in the long term, Bitcoin could serve as a "risk-off" asset, cementing its place in the broader financial landscape.

Top Stories

  • Bitcoin price breaks out above $66,000, driven by favorable inflation data.

  • MicroStrategy’s 2x leveraged ETF experiences massive inflows, outpacing Bitcoin in early trading.

  • BlackRock identifies Bitcoin as a potential long-term "risk-off" asset, emphasizing its unique properties.

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TOP STORIES

Bitcoin price breaks out above $66,000 amid positive inflation data

Bitcoin's price has increased above the $66,000 mark, buoyed by positive inflation data, according to an analyst.

www.theblock.co/post/318484/bitcoin-price-breaks-out-above-66000-amid-positive-inflation-data

MicroStrategy 2X Leveraged ETF Sees Massive Inflows In First Week Of Trading As MSTR Outperforms Bitcoin

The T-REX 2X Long MSTR Daily Target ETF (MSTU) took in $72 million in the first week of trading, according to data by Bloomberg Intelligence.

www.coindesk.com/markets/2024/09/27/microstrategy-2x-leveraged-etf-sees-massive-inflows-in-first-week-of-trading-as-mstr-outperforms-bitcoin

BlackRock Highlights Bitcoin’s Unique Properties as Approved IBIT Options Could Cement Risk-Off Status

BlackRock's latest report shows that bitcoin has a very low correlation to U.S. equities on a trailing six-month basis.

www.coindesk.com/markets/2024/09/27/blackrock-highlights-bitcoins-unique-properties-believes-btc-is-risk-off-in-the-long-term

FUNDRAISING

Mind Network Secures $10 Million in Pre-A Round Funding to Continually Build FHE (Fully Homomorphic…

We are thrilled to announce that Mind Network has successfully raised $10 million in a Pre-A funding round. This significant investment…

mindnetwork.medium.com/mind-network-secures-10-million-in-pre-a-round-funding-to-continually-build-fhe-fully-homomorphic-7f204994c4ba

OTHER HEADLINES

Ethereum transaction fees surge as blockchain activity ramps up: Coinbase

Ethereum transaction fees have surged in the past week due to an uptick in on-chain activity across the blockchain, according to Coinbase.

www.theblock.co/post/318450/ethereum-transaction-fees-surge-as-blockchain-activity-ramps-up-coinbase

Moo Deng Meme Coin Buyer Turns $800 Into $7.5 Million - Decrypt

How high will Moo Deng go before this meme coin inevitably collapses? One Solana trader is still holding onto incredible gains.

decrypt.co/283233/moo-deng-meme-coin-buyer-turns-800-3-5-million

Binance Founder CZ Set for Prison Release - "The Defiant"

Former Binance CEO Changpeng Zhao, also known as CZ, is slated to be released from prison Friday evening after spending the last four months incarcerated in the United States.

thedefiant.io/news/cefi/binance-founder-cz-set-for-prison-release

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