HBO Doc Claims Peter Todd is Satoshi Nakamoto!

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📅 Today

🔍️ Market Outlook For The Week

• Overall Bias - Cautious 🙏 

• BTC dipped to it’s 200 Daily EMA at ~$60,000

• It is crucial that this EMA should hold as support

• This is a crucial price level. If BTC breaks here, further downside can be expected.

• However, historically, Q4 has been the best-performing quarter for BTC so that we can expect some bullish momentum due to seasonality.

• For the bulls, a clear breakout above $67,500 will take BTC to new all-time highs

• It is wise to not take any new leveraged positions till BTC closes above $67,500, and just DCA in spot instead.

Peter Todd named Satoshi Nakamoto in HBO documentary 👀 

The much anticipated HBO documentary claims that Canadian Bitcoin core developer Peter Todd is Satoshi Nakamoto, based on a chat log where Todd mentioned being “the world’s leading expert on how to sacrifice your Bitcoins” and having done so manually.

Filmmaker Hoback interpreted this as Todd admitting to disabling access to the 1.1 million Bitcoin attributed to Nakamoto, worth $69.4 billion.

Todd, however, has obviously denied these allegations.

Who do you believe Satoshi Nakamoto

Brazil lifts ban on X 🙏 

After paying off a $5.5 million fine, Justice Alexandre de Moraes announced on Oct. 8 that the platform would be live again in Brazil within 24 hours.

The app was banned on Aug. 30 for not following court orders during a fake news investigation. Apparently Brazil’s Supreme Court had ordered the platform to ban Brazilian accounts without explaining why

Around 40 million Brazilians used X before it was banned. The platform is now set to make a comeback once again.

📕 Educational

Sui's net flows this year hit $737.6M, 2nd highest among Alt-L1s after Solana's $1.1B. On a relative basis Sui’s inflows are 18% of its market cap, while Solana's are 2%—a 9x difference!

Ethereum leads outflows across the crypto ecosystem, mainly to L2s, but some capital is spilling over to other L1s. Sui is the top recipient, with 92.9% of its inflows bridged from Ethereum and 5.3% from Solana.

Net flows are akin to a blockchain network's capital account—increasing net flows signals competitiveness and confidence, much like a nation's capital markets.

A tenuous analogy: Ethereum is the US (property rights, the rule of law, deepest capital market), Solana is China (rapid growth, more centralized, degen traders), and Sui is the up-and-coming player, like South Korea or Singapore in the 2000s. It's got the tech but is still building its capital markets and diversifying its economy.

Sui seems to be following Solana’s footsteps from the earlier cycle, and could be a major player for this cycle too.

Source : Jamie Coutts

📊 Stat of the day

📈 Chart of the day

Rationale :

• 525 day accumulation zone

• Trying to break out'

• A weekly close above $2.2 can be a good entry

• Look out for high volumes on the breakout

• For now, some retracement can be expected before the breakout

• Source : Cointraction

🤣 Meme of the day

That concludes our update for today!

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Disclaimer : None of the content shared in the newsletter is financial advise. Always do your own research and analysis before investing.