Bitcoin’s Next Support at $65K; Sui Launches Dubai Incubator Hub

Bitcoin Weekly

We are in the third week of October, and as many call it, Uptober is here. Since the month's low on October 10th, BTC has soared, gaining a notable 18% from $58,900 to $69,550 yesterday. This brings the price just below the 2021 all-time high of $69,200. Notably, we are now less than 10% away from establishing a new all-time high! This bounce should instill more confidence that if $BTC manages to reclaim and hold above the $67,900 level, we might see further upward movement in the week ahead. 

However, if BTC fails to recover above $67,900 and breaks below Monday's low, we should be prepared for potential further declines, with the DM VAH at $65,720 being the next key level to watch. Economic events this week to monitor include the Unemployment Claims report on Thursday, which could introduce volatility, and the Flash Manufacturing PMI. We are precisely two weeks away from one of the U.S. presidential election, which is bound to stir the market. 

Daily Top Performer — Aptos (APT)

Today's top performer is APT, which surged 11.6% after the celebration of Aptos' 2nd birthday and its impressive milestones.

Aptos (APT), launched in October 2022, is a Layer 1 blockchain developed using the Rust-based Move programming language. It prioritizes scalability, security, reliability, and low transaction costs. Aptos is notable for its origins in Meta’s abandoned Diem project, with former Diem developers working to realize the original vision of a fast, scalable blockchain while incorporating user-friendly features. In just two years, Aptos celebrates its birthday with impressive milestones: 27.7 million active addresses, 1.7 billion total transactions, a single-day record of 326 million transactions, and 250 innovative projects. And the journey is just getting started!

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Talk of the Town

Sui has launched its first global incubator hub in Dubai, in collaboration with Ghaf Group, to support blockchain developers and entrepreneurs. The hub, led by Mysten Labs co-founder Kostas Chalkias, aims to provide rapid solution engineering, including on-the-spot smart contract development. Inspired by Dubai’s clear Web3 regulations, Sui plans to run frequent hackathons and assist the government with digitalization efforts. Sui, developed by former Meta employees, surpassed blockchains like Cardano and Aptos in total value locked earlier this year.

Check Out the Latest Prices, Charts, and Data of SUIUSDT Perp and SUI/USDT Spot  Contracts!

Bitcoin Spot ETF Flows

Yesterday, the BTC Spot ETF data shows a total flow of -$34.7 million, with GBTC accounting for -$4.8 million and non-GBTC products contributing -$29.9 million.

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Airdrop to Watch

Pump.Fun is preparing for a major airdrop, as hinted by its co-founder during an AMA. Users who have interacted with the protocol may be eligible for the airdrop. To participate, users should connect their Solana wallet, create a coin, purchase a small amount of SOL, and then buy and sell meme coins quickly. However, there’s a high risk of losing funds if held for too long, as the snapshot may have already been taken.

Check Out the Latest Prices, Charts, and Data of SOLUSDT Perp and SOL/USDT Spot Contracts!