Daily News | A Blue Whale that Has Been Dormant for Over 3 Years Transferred 5000 BTCs, It Was Within 200 Days of the Time of BTC Halving, CYBER Will Face A Large-scale Unlocking

2023-10-09, 03:58

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## Crypto Daily Digest: The US government attempts to control Bitcoin, and 7 tokens face unlocking this week
Recently, Sam Altman, CEO of OpenAI, warned on Joe Rogan's blog that the US government is waging a "war" against cryptocurrencies and hopes to "control" <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>.

Sam Altman said, "I am very concerned about how far national surveillance (implying national control over currency) can go. I am disappointed with the recent actions of the US government, but I believe that we cannot give up on the war against cryptocurrencies. We will control 'Bitcoin and cryptocurrency'. I think the idea of having a global currency that is not controlled by any government is a very logical and important step on the technology tree. Bitcoin ‘is most likely to become a universally viable currency.’

On-chain analysis platform Santiment tweeted that since September 7th, over 10,000 Bitcoins have flowed out of CEX, marking the largest monthly outflow of this year. At the same time, Bitcoin's unique address has fallen to its lowest point in nearly six weeks.

On-chain data shows that a blue whale address that has been dormant for over 3 years was activated on the morning of October 8th, and all 5000 BTCs (approximately $140 million) in the address were transferred multiple times to two new addresses. The address initially received these 5000 Bitcoins in June 2020.

According to the relevant community information on the workplace social media platform, it is suspected that employees from Bitmainland have reported that Bitmainland has salary arrears due to cash <a href="/price/flow-flow" target="_blank" class="blog_inner_link">Flow</a> issues, and the 2022 year-end bonus has not yet been distributed. In September, half of the basic salary of all employees may be deducted, and all performance-based wages may be deducted.

According to the relevant blockchain media report, multiple internal employees of BitContinent have confirmed that BitContinent issued a notice on October 3rd that the company's operating cash flow in September has not yet turned positive, especially the progress of some mines (referring to the entry of mining machines into mines) has seriously not met the standards. EMT has decided to temporarily suspend the payment of partial wages for all employees in September, and will pay them according to the situation after the holiday on October 7th. Bitmainland recently held a conference in Hong Kong and released the latest S21 mining machine.

Bitcoinblockhalf data shows that the current block height is about 200 days away from the time of Bitcoin halving, and the halving time is expected to be April 25, 2024. At that time, the reward for each block will be reduced from 6.25 BTC to 3.125 BTC.

In addition, Token Unlocks data shows that there will be 6 crypto projects unlocking tokens this week (October 9 to October 15), with a total release value of approximately $35 million. Among them:

<a href="/price/moonbeam-glmr" target="_blank" class="blog_inner_link">Moonbeam</a> (GLMR) will unlock 9.68 million tokens (approximately $2.05 million) at 0:00 am (UTC) on October 11th, accounting for 1.29% of the circulating supply;

<a href="/price/1inch-1inch" target="_blank" class="blog_inner_link">1inch</a> (1 INCH) will unlock approximately 210,000 tokens (approximately $55,000) at 12:00 pm (UTC) on October 11, accounting for 0.02% of the circulating supply;

<a href="/price/aptos-apt" target="_blank" class="blog_inner_link">Aptos</a> (APT) will unlock 4.54 million tokens (approximately $23.63 million) at 0:00 am (UTC) on October 12, accounting for 1.9% of the circulating supply;

Euler (EUL) will unlock approximately 150,000 tokens (approximately $390,000) at 09:10 on October 12, accounting for approximately 1% of the circulation supply;

Sweat Economy (SWEAT) will unlock approximately 227 million tokens (approximately $2.32 million) at 8:00 am on October 13, accounting for 2.95% of the circulating supply;

CyberConnect (CYBER) will lock 1.26 million tokens (approximately $6.23 million) at 8:00 on October 15, accounting for 11.43% of the circulating supply.

In addition, X2Y2 (X2Y2) locked 12.5 million tokens (approximately $220000) on October 8 at 23:48 pm (UTC), accounting for 4.05% of the circulating supply.
## Today’s Main Token Trends
### BTC
![](https://gimg2.gateimg.com/image/article/1696833715BTC.png)
As mentioned in last week's live broadcast, the overall structure has formed a bullish head and shoulders pattern, and the key support at $25,200 quickly bounced back. The market is currently in a triangular consolidation pattern, with short-term support holding above $28,125. A conservative strategy for the short term would be to look for a breakthrough above $28,500 with a potential target at the resistance level of $30,203.

### MKR
![](https://gimg2.gateimg.com/image/article/1696833733MKR.png)
 In the long term, MKR is forming a large bullish head and shoulders pattern. The daily chart accurately hit the first target at $1,588 before a significant pullback to the $1,370 support. It's recommended to closely monitor the $1,370 level. In the medium to long term, the targets are set at $1,723, $1,832, $1,940, $2,096, and the ultimate target of $2,294.

### LOOM
![](https://gimg2.gateimg.com/image/article/1696833749LOOM.png)
The daily chart of LOOM has formed the final wave in a five-wave uptrend, reaching the target price of $0.19874. In the short term, it remains below the $0.17969 support, and a larger correction is possible. If a correction occurs, key support levels to watch are $0.14387 and $0.12742. On the other hand, if the correction ends and the uptrend continues, the resistance levels to watch are $0.23838 and $0.29862, followed by $0.33537.
## Macro: Non-farm payrolls exceeding expectations, rising expectations for interest rate hikes, focus on Thursday's US CPI data
Over the past week, the soaring US bond yields have become a sword hanging over the global market, with 10-year and 30-year US bond yields stabilizing after reaching 2007 highs of nearly 4.9% and 5.1%, respectively. According to analysts, this is mainly influenced by the optimistic economic outlook in the United States, the hawkish stance maintained by the Federal Reserve, and the worsening financial difficulties in the United States. On Friday, the number of new non-farm payrolls exceeded expectations, further increasing the probability of the Federal Reserve raising interest rates again within the year.

The new week after the holiday has officially begun. Today, we will focus on some important time points of this week:

At 13:30 pm (UTC) on Monday, 2023 FOMC Voting Committee and Dallas Fed Chairman Logan delivered a speech on the US economic outlook and monetary policy.

At 13:30 pm (UTC) on Tuesday, 2024 FOMC Voting Committee and Atlanta Fed Chairman Bostick delivered a speech on the outlook for the US economy.

At 12:30 pm (UTC) on Wednesday, the annual PPI data for September in the United States was released, with a previous value of 1.6%.

At 19:00 pm (UTC) on Tuesday, the 2023 FOMOC Voting Committee and Minneapolis Fed Chairman Kashkari delivered a speech.

At 12:30 pm (UTC) on Thursday, the quarterly CPI data for September in the United States was released, with a previous value of 3.7% and a forecast of 3.6%.

At 18:00 pm  (UTC) on Wednesday, the Federal Reserve will release the minutes of its September monetary policy meeting.

At 13:00 pm (UTC) on Friday, the FOMC voting committee and Philadelphia Fed Chairman Huck delivered a speech on the economic outlook for 2023.

It is obvious that this week we will focus on Thursday's timeline. Thursday can be used to analyze and judge potential market trends based on CPI and meeting minutes, or serve as another catalyst to change market expectations for interest rate hikes.

The market will also learn about the balance between economic growth and inflation among Federal Reserve officials from the upcoming September meeting minutes, and the intensive speech schedule of nearly 10 policymakers will also provide more clues. In addition, the Q3 earnings season for US stocks will officially kick off.

When the Middle East conflict is ongoing, there are currently no signs of easing the situation. If it continues, it will have a certain impact on the financial market and increase the demand for a safe haven in the market. Currently, gold has shown such momentum, and it will also impact the crude oil market. We will continue to pay attention.

<div class="blog-details-info">
<div>Author:**Byron B.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>