- Analysts have estimated the “painful” breakeven threshold for miners at $18,300. According to Glassnode's calculations, 78,400 BTC could be at risk of liquidation if the price of bitcoin goes below this price, which follows from the mining difficulty regression model. This value is slightly higher than the June low of $17,840.
Against the background of price stability, mining metrics are improving, which is a signal that the situation will improve in the coming months. In particular, the hash rate reached a record 242 EH/s. The growth of computing power is due to the introduction of the most efficient ASIC devices. This confirms the dynamics of revenue per EH/s (4.06 BTC). In dollar terms, it ranges from $78,000-$88,000. The last time such values were observed was after the halving in October 2020, when bitcoin was worth half what it is now (~$10,000).
The balances of miners, which account for 96% of the current hash rate, have 78,400 BTC, the maximum number of coins that can increase sales in case of stress for this category of market participants. At the moment, most of the sales are carried out by miners associated with the Poolin pool. In September, representatives of this company admitted that there were problems with liquidity.
Glassnode experts also noted a growing likelihood of increased volatility after a long period of consolidation in the $18,000-20,000 range.

- McDonald's restaurant chain has started accepting BTC payments in Lugano, Switzerland. Back in March, Lugano authorities announced that they would make digital gold, USDT, and the city's LVGA token "de facto" legal tender. The decision was the development of an initiative to turn the city into the “Bitcoin Capital of Europe”.

- Robert Kiyosaki, the author of the bestseller Rich Dad, Poor Dad, called the strengthening of the US dollar an excellent opportunity to buy the first cryptocurrency and other digital assets. “Buy more. When the Fed turns around and cuts interest rates, you will smile while others cry,” he said.

- George Soros' former Quantum associate, billionaire Stanley Druckenmiller, predicted a revival of digital assets amid the collapse of the fiat-based economy. He said this at the CNBC conference. The financier expects a "hard landing" of the economy in 2023 against the backdrop of an aggressive tightening of the Fed's monetary policy.
In his opinion, quantitative easing and low rates led to bubbles in financial markets. These factors have not only been stopped now, but reversed. The Fed has begun cutting its $9 trillion balance and has already managed to raise the key rate five times to 3.25%, expecting its peak at 4.60%. “You don’t even need to talk about black swans to start worrying,” the billionaire said. In his opinion, if confidence in the actions of central banks is lost, cryptocurrencies “will play a big role in the revival”.

- Unlike global investors, ordinary people look at what is happening a little differently. The collapse in the crypto assets market forced not only the older generation, but also young people to reconsider their attitude towards them. The financial company Bankrate conducted a survey, according to which, the number of Americans who were comfortable investing in digital money has dropped sharply.
Millennials, who had previously been considered most open to new technologies, have lost confidence in cryptocurrencies more than others. The percentage of young people for whom cryptocurrencies were a convenient investment method fell from 49% in 2021 to 29% in 2022. People between the ages of 40 and 55 are losing trust in digital assets as well. Over the year, this figure fell from 37% to 21%. Among the older generation, the figure fell from 21% to 11%.
“It's much easier to invest enthusiastically in something when you see its value constantly increasing,” says Greg McBride, Chief Financial Analyst at Bankrate. “A real test of the faith happens when the market falls, and what you fervently believed until recently ceases to be profitable. Recent movements have forced many to reconsider their attitude towards the digital asset market radically.”

- Some different data was provided by The Block. According to their calculations, despite the global bearish trend, the number of active investors in the bitcoin network continues to grow. This trend is due to the serious economic crisis in Europe, against the background of which retailers are increasingly investing in the main cryptocurrency in order to diversify risks. According to The Block, the number of investors in the bitcoin ecosystem has grown by 4.5 million since January 1, 2022.
It is noteworthy that the number of bitcoin addresses with a balance of at least 0.01 BTC reached an all-time high of 10.7 million this month. About 47% of holders remain in profit, despite the flagship cryptocurrency's prolonged drawdown relative to its historical maximum.

- Galaxy Digital CEO Mike Novogratz suggested that a reversal could form in the stock market in October. The expert also stressed that the Fed's policy is likely to remain aggressive. And there are no clear signs so far that the US department is ready to cut interest rates, as such a drastic move would harm efforts to combat inflation. However, the expert did not rule out that the regulator may re-initiate the quantitative easing procedure at some point in order to stabilize the market situation.
The head of Galaxy Digital believes that bitcoin looks quite stable in the current macroeconomic conditions, and that BTC will still be able to reach $500,000 within a few years.

- Unlike many optimists, cryptocurrency strategist and trader Cantering Clarke expects BTC to crash to five-year lows amid stock market weakness. According to his calculations, bitcoin could fall by almost 40% from current levels if the S&P 500 stock index resumes its bearish trend. “If the S&P 500 drops to the next major area between 3,200-3,400 [pips], I think the correct assumption is that the crypto crash will be 2-3 times greater. This means at least that BTC will re-test the largest protrusion in five years: about $12,000-13,000,” the trader warns.
However, in the short term, he believes bitcoin bulls could bring back some confidence to the market if they manage to gain a foothold above $20,000. “If we can break these local highs, I think BTC will see some momentum,” Cantering Clark predicts.

- Social media users are vigorously discussing the fact that October 7 will be a key day for the cryptocurrency market this week. The fact is that the US authorities will announce updated data on unemployment and wages in the non-agricultural sector of the country this Friday. Employment and CPI data will signal how much the Fed will raise interest rates at its next meeting in November.
Experts are clearly divided on the future of the industry. Some of them predict a rapid growth in the exchange rate of the flagship cryptocurrency and altcoins due to the geopolitical situation in the world. Others, on the contrary, predict a protracted crisis. In their opinion, the industry will face a crypto winter in the next few years, so there is no point in waiting for prices to rise.

- According to US Treasury Secretary Janet Yellen, failure to regulate cryptocurrencies could harm the entire US financial system. According to her, this industry, left without regulation, is fraught with risks, although they do not pose a “real threat” to financial stability so far.
A true cascade of defaults and bankruptcies in the crypto industry has led firms like Celsius, Voyager, and Three Arrows to file for bankruptcy and prevent clients from withdrawing funds. We can recall the fall of the Luna token and the Terra stablecoin associated with it. All this led to the US Securities and Exchange Commission (SEC) deciding to increase its focus on the digital asset market by doubling its crypto division staff in May. And SEC chief Gary Gensler even called this entire industry the “Wild West”.

- Increased regulation of cryptocurrencies is often frowned upon by crypto investors, and the threat of such increased regulation has often been a bearish factor for bitcoin and other cryptocurrencies. However, the Commodity Futures Trading Commission (CFTC), which oversees the US futures market, believes that proper regulation could have a powerful bullish effect on the price of BTC.
CFTC chief Rostin Behnam explained that a clear regulatory framework could help increase the number of institutional investors. According to him, “these incumbent institutions in the crypto space see a huge opportunity for an institutional influx that will only happen if a regulatory structure is put in place around this market.” Behnam also noted that the bill submitted to the US Senate would make the CFTC the main regulator of the crypto industry, expanding the commission's powers and requiring crypto firms to register with the CFTC.

- The founder and CEO of The Birb Nest brand Ardian Zdunczyk shared his thoughts on bitcoin and what cryptocurrency can expect in the last quarter of the year. He noted that historically the fourth quarter was successful for BTC, and it would be interesting to see if the leader of the crypto market can repeat the previous successes. Zdunczyk cited historical data, proving that investors can expect good returns over the next two months. True, he made a reservation that no one would give guarantees.
Another argument in favor of the pre-New Year rally is the fact that the coins have risen slightly compared to their 200-day trends. Unlike fiat currencies that show roller coasters, bitcoin is stable in the range of $19,000 to $20,000. And now all markets are waiting for stability. They are already tired of the recession, the fall in company shares, the IMF's gloomy forecasts, and the ill-conceived policies of the Central Banks. Therefore, against such a background, bitcoin is becoming more and more attractive.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

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