What Happened in Crypto Today: Will Bitcoin Hit 64K?

Bitcoin’s September stumble is right on schedule.

The crypto king started the month with a 2% drop, now hovering around $58,000.

August was not kind either, closing 8.6% lower. So much for the usual 1.75% monthly gain.

But wait, not all hope is lost. Some analysts are looking at the mid-$60,000 range as a near-term target. A classic case of delulu or do they have something to base this optimism on?

Meanwhile, the derivatives market is giving us the cold shoulder. Funding rates are expected to remain “negative or low.” It seems even risk takers are taking a step back.

And with that in mind, we’ve got a whole collection of news to dig into today.

Here’s your TLDR:

• Bitcoin stumbles in September with a 2% drop. So more pits? What do the experts think? 📉

• Vitalik trades millions in ETH. Is he selling all his ETH? 🤔

• And finally we know how much income Telegram is generated by crypto! 💼

• Coinbase CEO unveils AI crypto traders. But why do we need them? 🧠

• Solana’s meme currency turns into a real church. wait what?? 🤨

Let’s dive in!

Bitcoin’s September Blues

OG Crypto Can’t Catch a Break!

It started September with a stumble, falling more than 2% to $57,273.

August was not kind to Bitcoin either, dropping 8.6%. That’s a far cry from the usual 1.75% monthly gain.

And now we’re in September, historically Bitcoin’s least favorite month, with an average loss of 4.5%.

The CoinGlass liquidation heatmap looks like a bearish firework, with possible short liquidations stretching all the way to $64,000. Traders are betting on more downside, but a price rally could trigger a brief squeeze.

So more pits? What do the experts think? Read the full story!

Vitalik’s $10 million ETH move

Vitalik Buterin just made waves with a $10 million ETH transfer to exchange-linked wallets.

Arkham Intelligence data paints an even bigger picture: Since 2015, Buterin’s address has withdrawn 422,000 ETH ($1.04 billion). In the last two years alone, this number has grown to 840,000 ETH.

With ETH trading 180% above its 2022 low, speculation is rampant. Does Vitalik cash in?

Not so fast, says the man himself.

Buterin took to social media to set the record straight: He hasn’t sold ETH for a profit since 2018.

So what about these transfers? Where does all this money go? Read the full story!

We know about Telegram’s Crypto Stash!

Telegram has more than messages in the vault.

The messaging giant reportedly had $400 million in cryptocurrencies at the end of 2023.

This detail comes from Telegram’s 2023 financial statement, which appears even as the arrest of CEO Pavel Durov.

The story continues

Telegram made $342.5 million in revenue last year, but still came in at $108 million. The interesting part? About 40% of these revenues came from crypto-related activities.

But how did they generate crypto revenue? Read the full story!

Digital money bots are here!

Coinbase CEO Brian Armstrong managed to get AI agents to trade crypto with each other.

An AI bot used crypto tokens to buy more AI tokens from another bot. It’s not just about moving money; it’s AI that evolves through transactions.

But why is this a big deal? Well, AI has hit a wall when it comes to real-world tasks. Booking flights? Not. Hotel reservations? No dice. Paid Social Media Promotions? No chance. Problem? They cannot handle transactions.

Armstrong’s solution? Crypto Wallets for AI. “AI agents can’t get bank accounts, but they can get crypto wallets,” he points out.

Either way, these digital money bots can now use USDC on Coinbase’s core network to deal with people, businesses, and even other AI.

But what does it mean? How can crypto help as a whole? Read the full story!

Solana’s Chicken Fish Church Becomes Legitimate

The Church of Chicken Smoking Fish (SCF) is taking its meme game to the next level.

This Solana-based meme coin is now a bona fide nonprofit with plans to build a real church in Marfa, Texas.

Pastor Kelby, the mastermind behind SCF, lined up $130,000 from “whales” to buy real estate. Talk about faith moving mountains – or at least, buying land.

But why is it suddenly mainstream? And do they have the kind of community support to make them legitimate? Read the full story!

And a quick review…

As you know, the price of Bitcoin fell below $58,000 this week – but don’t hit the panic button just yet. Let’s zoom out and look at the bigger picture.

Bitcoin whales (those holding over 100 BTC) are on a feeding spree, buying over 133,000 coins worth $7.6 billion in the last month alone (you can track that data here). And when the big fish start turning, it’s often a sign of good things to come (NFA).

Now, let’s talk about the general mood in the market.

The Fear and Greed Index sits at 26, firmly in “Fear” territory. The last time we saw numbers this low was in January 2023, right before Bitcoin decided to rocket to $45,000.

When fear is high, it often means we are near rock bottom.

Warren Buffett didn’t say “be greedy when others are fearful” for nothing.

Of course, crypto is not a stock, but market psychology often works the same way.

But it’s not all about Bitcoin. Let’s shift gears and talk about the hottest topic rn: AI.

Nvidia’s recent earnings report showed a 122% increase in revenue, largely driven by AI demand. This isn’t just Silicon Valley hype—there’s real money flowing into AI development.

So what does this mean for crypto?

Well, blockchain and AI are starting to become best friends. You can watch how this report pumped AI coins this week here!

So what should you do?

With these trends in mind, here are some steps to consider:

1. Watch whale movements closely. Tools like CMC Bitcoin Analytics can help you keep track of large wallet activities.

If you see a continued build-up, it could be a sign that the big players are expecting an increase in price.

2. Don’t let fear rule your decisions. Current market sentiment could present buying opportunities, but always invest within your risk tolerance.

3. Research blockchain projects that integrate AI technology. Look for those with solid use cases and partnerships in the AI ​​space. But remember, hype can outpace development, so focus on projects that show real progress.

Remember, the crypto market is known for its volatility. Always do your own research and never invest more than you can afford to lose.