Altman Makes a Shocking Return; Bitcoin’s Halving Around the Corner

Written by BTSE

November 23, 2023

As the day got started across Asia today, Bitcoin has recovered from a surprise hit earlier this week that knocked it down to around $36K following the news of Binance founder Changpeng Zhao’s settlement in the US. Now hovering around $37,400, Bitcoin is showing a slight gain for the week, with all eyes on a Bitcoin spot ETF approval – following a reported meeting between the SEC and Blackrock. Ethereum isn’t far behind, bouncing back over $2,000 after dipping to $1,900. The question now is, will positive ETF news come from this meeting and further push the market upwards?

 

What to Watch out for Today

 

  • Sam Altman’s Surprising Comeback at OpenAI: The AI world was taken aback when Sam Altman, the founder of OpenAI, was ousted last week, causing a stir among employees and stakeholders, and led to him taking a job at Microsoft. However, in a surprising twist, an in-principle agreement might see him return as CEO. Altman’s departure had raised many eyebrows, especially since it led to his and other former staff members’ association with Microsoft. The move to bring him back, led by Microsoft CEO Satya Nadella and other major investors, points to the complex dynamics within tech giants and startups. As Worldcoin returns to its monthly high of $2.5 following the news, does this signal a bullish trend for AI tokens?

 

  • Bitcoin’s Hash Rate Hits Record High Ahead of Halving: In a significant development for Bitcoin, its hash rate has soared to a new all-time high, reaching 491 exahashes per second. This increase in computational power strengthens the network’s security and signals robust mining activity – with the next halving event just around the corner, which will reduce the Bitcoin reward for miners, how might the market react to this decrease in supply?

 

  • KyberSwap Falls Victim to $48 Million Hack: The decentralized exchange KyberSwap has suffered a severe attack, resulting in a loss of nearly $50 million. The hack targeted various assets, including Ether and USDC, across multiple chains like Arbitrum, Optimism, and Ethereum. Following these losses, what implications could this have for the market more broadly?

 


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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

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