News linked to both this project and an event.
Odaily reports: Timothy Wadsworth has been sentenced to 51 months in prison and ordered to pay $810,965.19 in restitution after being convicted of conspiracy to commit wire fraud and money laundering. The U.S. Department of Justice (DOJ) announced the sentencing on October 23. Wadsworth is from Rochester, New York. His fraud scheme involved processing unauthorized credit card payments through Stripe, then transferring part of the funds to Coinbase to purchase Bitcoin and send it to co-conspirators.Between March 10 and May 15, 2020, Wadsworth used account information provided by co-conspirators to attempt to process 310 payments through Stripe totaling approximately $1.6736 million, of which 116 succeeded, amounting to about $730,700. The funds were moved through HSBC and Evolve Federal Credit Union accounts under his control, with some subsequently used to purchase Bitcoin.The judge also ordered the forfeiture of $810,956.19 in wire fraud proceeds. From March 2020 to September 2021, the actual and intended losses caused by the related fraud scheme totaled approximately $2.06 million, and also included disaster loans, Paycheck Protection Program loans, unemployment benefits, and other fraud proceeds targeting victims. (Bitcoin.com News)
Connecticut tax preparer Yuridia Trujillo has been accused of filing false cryptocurrency losses for clients who never held the relevant assets. The U.S. Internal Revenue Service (IRS) alleges that her company, Yuri's LLC, submitted at least 4,335 tax returns between 2017 and 2024, which also allegedly included false claims regarding retirement contributions, dependent care, business and rental property information.The indictment alleges that Trujillo used Form 8888 to divert some clients' tax refunds into her own bank account and that of an accomplice. A federal grand jury indicted her on October 7, and law enforcement arrested her on October 9; she faces 19 counts related to false income tax returns and has been released on $50,000 bail pending trial. (Bitcoin.com News)
Odaily reports: CryptoQuant analyst Darkfost posted on X that as BTC has held above $80,000 for several consecutive weeks, the behavior of retail investors and whales transferring BTC to Binance has diverged significantly. Data shows that the 30-day cumulative retail BTC inflows to Binance have risen from $5.5 billion to $10.75 billion, nearly doubling and hitting a 6-month high. In contrast, whale inflows over the same period have continued to decline, dropping from $5.9 billion at the end of August to the current $3.8 billion.Darkfost believes that some retail investors may be viewing this first rebound as an opportunity to reduce positions or exit, while whales have not yet shown a clear willingness to sell. What is worth watching going forward is whether whales will continue to maintain low exchange inflow levels if BTC prices continue to rise.
according to on-chain analyst Ai Yi, a mysterious entity whose funding source is Tornado has cumulatively bought 3,000.5 ETH worth $7.06 million since October 23, and subsequently swapped it for BTC via the cross-chain protocol THORChain. The entity had previously sold ETH in batches at price highs and bought back near recent lows: it sold at $3,109 in January 2026, sold again at $2,679 in September 2026, and bought back at $2,353 in October 2026.
Trader Killa stated that he currently continues to hold multiple BTC long positions. If Bitcoin drops to $74,000, liquidating his 10x leveraged long position established at $82,800, he plans to reopen a position at the previously set invalidation level, but with a reduced position size.
Odaily reports: Trader Killa posted that he currently still holds Bitcoin long positions, including longs opened at $62,600 and $76,000, as well as a 10x leverage long position opened at $82,800. If BTC wicks down to $74,000, causing the 10x leverage long position to be liquidated, he plans to open another 10x leverage long position at the previously set invalidation level, but with a smaller position size, as he already has significant exposure in that price range.Killa added that if he were not already holding a large number of longs and spot positions, he would actively buy at current levels. He believes investors who are underallocated could consider gradually buying over the coming weeks, and stated he would rather enter early than miss out on a larger subsequent move.
Trader Killa believes the market should not view Bitcoin's previous extreme low as an inevitable target to revisit. He notes that BTC has currently pulled back approximately 9% and recommends investors continue dollar-cost averaging over the coming weeks.
Galaxy Research has published an analysis stating that over the past three weeks, approximately 40 inscriptions composed of random letters have appeared on the Bitcoin network each day, with content that appears to be encrypted text but is not actually cryptographic information. The relevant addresses had previously inscribed the U.S. Constitution onto the Bitcoin network in May. The study found that after analyzing 562 texts, the frequency distribution of the 26 English letters was nearly uniform, clearly differing from normal English and substitution cipher characteristics; metrics such as word length distribution and repeated word frequency also indicated that these texts were likely generated by a random letter generator.Galaxy Research refers to the operator as "Babel Scribe," believing that the activity is more likely testing a data publishing tool on the Bitcoin mainnet rather than attempting to convey hidden messages. The on-chain transaction structure, the continuous use of change addresses, and the regular timing of publications all display characteristics of automated scripts. Related activities also include test texts, random words in different languages, binary data, and the subsequent inscription of the U.S. Declaration of Independence. It is estimated that the project has transferred in approximately 3.33 million satoshis in total, of which about 24% was used to pay miner fees, with the remaining funds still held in the relevant addresses. The researchers suggest that there is no need to interpret these garbled texts as hidden messages.
Odaily reports: CryptoQuant analyst Axel Adler Jr. posted on the X platform that Bitcoin remains in a volatility contraction phase. The spread between the highest and lowest prices over the past 30 days has narrowed from 13% to 6%, and the price has remained within the $80,000 to $86,000 range for the 9th consecutive day. Yesterday, Bitcoin found support near the 365-day simple moving average (SMA 365) and rebounded, closing at $80,500, marking a new low for the past 30 days.He noted that volatility contractions typically end with sharp price movements. The key level above is currently $86,000, while below, attention should be paid to the 365-day moving average.
Chinese national Zheng Zhao has been extradited from the Netherlands to the United States and appeared before a court in the Central District of California on October 23. He is alleged to have participated in an investment fraud and money laundering scheme involving 174 U.S. victims and more than $36.9 million in illicit funds. The U.S. Department of Justice (DOJ) said the fraudulent operations were run by scam centers in Cambodia.Prosecutors allege that more than $36.9 million was transferred through accounts controlled by accomplices into an account at Bahamas-based Deltec Bank, then converted into the stablecoin USDT and sent to digital asset wallets in Cambodia. Eight other co-defendants have already pleaded guilty; Zheng Zhao faces a money laundering conspiracy charge and, if convicted, could be sentenced to up to 20 years in prison. (Bitcoin.com News)
Trader Doctor Profit stated that although Bitcoin faced mockery from some market participants when it pulled back from $84,000 to below $80,000, he has been viewing the $80,000 to $81,000 range as an opportunity to add to Bitcoin long positions for weeks. His current entries focus on long-term trends rather than short-term $4,000 gains. Doctor Profit revealed that he still holds all spot positions established around $60,000, maintaining a next target price of $94,000. If BTC pulls back to around $80,000 again, he will continue adding to long positions.
According to Odaily, on-chain analyst Yu Jin monitored that at 23:00 last night, ETH dropped to a low of $2,282, and a certain whale's ETH long position was about $30 away from its liquidation price. In the early hours of the morning, the whale added $9.21 million in USDC margin, lowering the ETH long position's liquidation price from $2,256 to $2,181. Currently, the whale holds BTC and ETH long positions worth approximately $397 million, including 115,473 ETH valued at about $272 million with the nearest liquidation price at $2,181, and 1,539.5 BTC valued at about $124 million with the nearest liquidation price at $70,396.
According to Onchain Lens monitoring, Bitcoin has dropped below $80,000. Two whales on Hyperliquid had their $8.05 million Bitcoin long positions liquidated, realizing a loss of $278,000.
Bitcoin News posted on X platform that Zack Wainwright, a research analyst at Fidelity Digital Assets, stated that as of October 12, Bitcoin had risen nearly 50% from its bear market low of around $58,000 in June, with a trajectory similar to its 2022 recovery path. He cautioned that Bitcoin's returns have been narrowing each cycle, and past performance does not guarantee future results, but significant upside in dollar terms remains possible; Bitcoin took nearly 16 years to break through $100,000 for the first time, and the move from $100,000 to $200,000 could happen much faster.
Bitcoin News posted on X that after Bitcoin closed below its 50-day moving average, the price is around $80,600, marking the first time since August that it has fallen below this moving average and ending a streak of 66 consecutive days above it; the price is still about 10% above its 200-day moving average. U.S. spot Bitcoin ETFs saw net outflows of $137.9 million on Friday, marking two consecutive trading days of net outflows; the previous day, Thursday, saw net outflows of $635.6 million, the largest single-day outflow since June. The two trading days combined saw net outflows of approximately $773.5 million.
trader Killa has posted that current Bitcoin price action is highly similar to 2023. At that time, after BTC broke out of its consolidation range and posted a higher weekly high, it did not fall back below the previous high, but instead went on to form a higher low. If a similar pattern plays out this time, BTC may hold the upper boundary of its previous range, and the price may not fall back to the previous $74,000 low, but instead bottom out and rebound at a higher level. The current trend remains clearly bullish.
Ali noted that Bitcoin has experienced significant drawdowns during each of the past four U.S. midterm election cycles, with declines reaching 72%, 65%, 52%, and 27% in 2010, 2014, 2018, and 2022, respectively. Additionally, aside from 2010, the fourth quarters of the remaining three midterm election years all recorded negative returns.
Well-known trader Dr Profit posted on X stating that whenever the price of Bitcoin (BTC) reaches the target zone marked on his chart, it presents an opportunity to further increase existing long positions. Dr Profit stated that he is currently employing this strategy, viewing this price zone as a buying opportunity rather than a signal to panic sell.
Meanwhile, Fidelity FBTC saw a net outflow of $116.6 million, ARK Invest's ARKB recorded $99.6 million in net outflows, Grayscale GBTC posted $51.8 million in net outflows, and Bitwise BITB faced $18.5 million in net outflows.
According to on-chain analyst Darkfost, Bitcoin spot ETFs recorded a net inflow of 5,183 BTC this week. Despite the relatively modest inflow, it has pushed the cumulative net inflow since 2026 back into positive territory. Data shows that for most of the period since 2026, Bitcoin spot ETFs have been in a cumulative net outflow. With recent capital returning, the year-to-date cumulative net inflow has reached 10,784 BTC.