Investing.com — Bitcoin traded above $81,500, struggling to sustain a recovery as conflicting exchange flows and large whale transactions clouded the cryptocurrency’s near-term outlook, while institutional interest in blockchain technology continued to expand. <\/p>\n
Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month’s list \u00bb<\/a> <\/p>\n Bitcoin was trading up 0.08% at $81,689.0 as of 02:29 ET (06:29 GMT), after retreating from a recovery attempt towards $87,333. The decline brought the cryptocurrency closer to the psychologically important $80,000 level. <\/p>\n On-chain data showed mixed signals about potential selling pressure. <\/p>\n According to CryptoQuant, Bitcoin holders who acquired their coins six to twelve months ago significantly reduced the proportion of their transfers directed towards exchanges, from 40.4% in June to 4.4% by October 15. <\/p>\n However, their total 30-day transfer volume increased to 205,400 BTC from 157,700 BTC, suggesting continued movement of holdings despite reduced exchange activity. <\/p>\n Meanwhile, Whale Alert identified two large transactions totalling approximately $307 million. One involved 2,878 BTC transferred between unidentified wallets, while another saw 888 BTC withdrawn from Kraken. <\/p>\n The latter reduced Bitcoin available on the exchange, although the purpose of either transaction remains unclear. <\/p>\n Separately, CoinGlass data showed positive spot exchange netflows of $18.65 million, indicating that overall deposits exceeded withdrawals and potentially increased the supply available for selling. <\/p>\n Beyond Bitcoin’s immediate price movements, Wall Street banks are increasingly exploring tokenisation as a business opportunity. <\/p>\n Goldman Sachs is examining opportunities to expand trading activity through tokenised assets, while Wells Fargo is already processing limited volumes of cross-border payments using tokenised deposits. <\/p>\n Unsure what to buy ahead of earnings? Our AI’s recent pre-earnings calls delivered gains of +77% to +118% after results dropped. See this month’s earnings picks \u00bb<\/a> <\/p>\n Morgan Stanley also identified opportunities for its wealth management business as blockchain-based assets become easier to transfer. <\/p>\n In the stablecoin sector, Circle defended the economics of its USDC business amid growing competition from networks offering distribution partners a greater share of reserve income. <\/p>\n Circle reported approximately $1.4 billion in first-half revenue, with $819 million allocated to distribution and transaction costs. <\/p>\n Regulatory developments also remained in focus after the European Union and eight countries signed an additional protocol to the Warsaw Convention, strengthening cross-border cooperation on cryptocurrency-related financial crime and asset confiscation. <\/p>\n Bitcoin’s near-term direction remains uncertain, with the $80,000 level emerging as a key area to watch amid conflicting supply signals. <\/p>\n Crypto prices today: altcoins mostly edge lower on Sunday <\/p>\n Broader crypto prices were mostly lower on Sunday, based on the latest market snapshot. <\/p>\n World No. 2 cryptocurrency Ether<\/a> fell 0.81% to $2,413.50. <\/p>\n World No. 3 cryptocurrency XRP<\/a> dropped 0.82% to $1.2994. <\/p>\n Solana<\/a> declined 1.11% to $103.78, while BNB<\/a> dropped 0.10% to $721.66. <\/p>\n Cardano<\/a> retreated 1.61% to $0.2204, while Dogecoin<\/a> lost 1.58%. <\/p>\n Among meme coins, TRUMP<\/a> was trading flat for the day, while Shiba Inu<\/a> fell 1.97%. <\/p>\n Original Article <\/p>\n Bitcoin struggles above $80K as whale transfers signal mixed outlook<\/a> <\/p>\n Ledger crypto wallets compromised in hardware attack linked to $90M theft<\/a> <\/p>\n