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Bitcoin's price has seen a notable increase in the past week. The rise has been driven in some part by a dynamic between short and long-term bitcoin holders, according to an analyst.

Bitcoin (BTC-USD) has risen by 4.5% in the past week, now changing hands at $27,602, (22,771) according to CoinGecko data.

This is a retrace from a height of $28,500, that was reached on Monday. The early October high marked a significant price point that has not been reached since August 17, 2023.

Read more: Crypto live prices

"Bitcoin now finds itself in a technical range, confined between the resistance level of $28,500 and the support level of $27,100," CryptoQuant analyst Adam Mourad told Yahoo Finance UK.

The analyst explained the underlying factors that could be at play. Mourad described a market dynamic that has developed between short and long-term bitcoin holders. He referred to on-chain metrics that demonstrated long-term holders acquiring the digital assets that are being sold by short-term holders.

"The supply held by short-term holders has dipped to its lowest point in nearly eight years, a level not seen since November 2015, with a value of 3.8 million bitcoins," the analyst said.

Conversely, the CryptoQuant analyst referred to on-chain data that showed the supply of bitcoin held by long-term holders has reached an all-time high, standing at 15.6 million bitcoins.

He added that long-term holders have a deeper belief in the asset and will hold and accumulate the asset. A dynamic that favours price appreciation.

Long-term holders of bitcoin wait in hopeful anticipation that an approval of a spot bitcoin ETF by US regulators is forthcoming. A spot bitcoin ETF is a financial product that investors hope will open the gateway for mainstream capital to flood the crypto market.

At a conference in London this week, former BlackRock (BLK) managing director Steven Schoenfield said he believed the SEC could approve a spot bitcoin ETF within 3-6 months based on mounting regulatory pressure. This relatively short timeframe marks a shift in Schoenfields outlook. He had previously projected a longer nine to twelve months window.

Read more: Institutional investment brings new momentum to crypto

During a panel discussion on ETFs at CCDatas Digital Asset Summit in London, Schoenfield explained his updated forecast is based on a view that there has been a significant improvement in the dialogue between the Securities and Exchange Commission (SEC) and financial industry figures. The SEC is the US financial regulator that will make the decision whether to approve the multiple spot bitcoin ETF filings that have been filed.

Watch: Crypto bosses pouring millions into anti-aging tech to live longer | The Crypto Mile

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Bitcoin price rally driven by key market dynamic, analyst - Yahoo! Voices

This article is from a special report on the Athens Democracy Forum, which gathered experts last week in the Greek capital to discuss global issues.

Moderator: Liz Alderman, chief European business correspondent, The New York Times

Speaker: Nick Clegg, president, global affairs, Meta

Excerpts from the Rethinking A.I. and Democracy discussion have been edited and condensed.

LIZ ALDERMAN A.I. obviously holds enormous promise and can do all kinds of new things. A.I. can even help us possibly solve some of our hardest problems. But it also comes with risks, including manipulation, disinformation and the existential threat of it being used by bad actors. So Nick, why should the public trust that A.I. will be a boon to democracy, rather than a potential threat against it?

NICK CLEGG I think the public should continue to reserve judgment until we see how things play out. And I think, like any major technological innovation, technology can be used for good and for bad purposes, can be used by good and bad people. Thats been the case from the invention of the car to the internet, from the radio to the bicycle. And I think its natural to fear the worst, to try and anticipate the worst, and to be fearful particularly of technologies which are difficult to comprehend. So I think its not surprising that in recent months, certainly since ChatGPT produced its large language model, a lot of the focus has centered on possible risks. I think some of those risks, or at least the way some of them are being described, are running really quite far ahead of the technology, to be candid. You know, this idea of A.I.s developing a kind of autonomy and an agency of their own, a sort of demonic wish to destroy humanity and turn us all into paper clips and so on, which was quite a lot of the sort of early discussion.

ALDERMAN We havent reached Terminator 2 status.

CLEGG Yeah, exactly. Because these are systems, remember, which dont know anything. They dont have any real meaningful agency or autonomy. They are extremely powerful and sophisticated ways of slicing and dicing vast amounts of data and applying billions of parameters to it to recognize patterns across a dizzying array of data sets and data points.

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Athens Democracy Forum: Are Artificial Intelligence and Democracy Compatible? - The New York Times

The crypto community is buzzing with excitement as October unfolds, heralding the arrival of what many in the digital asset space call Uptober. For years, this month has gained a reputation for fostering positive price momentum for Bitcoin and the broader cryptocurrency market. The resurgence of Uptober has once again ignited hopes and speculations about what lies ahead for the crypto market.

Beyond the immediate implications for Bitcoin, many investors question how this bullish momentum might spill over to other cryptocurrencies, especially XRP, Cardano (ADA), and InQubeta (QUBE).

Drawing parallels to BTCs uptrend, InQubetas approach to crowdfunding has drawn attention from the crypto community, leading to its rapid ascent on the decentralized finance (defi) crypto list.

This article delves into Uptobers significance and explores its potential effects on these top digital assets.

InQubetadistinguishes itself from conventional cryptocurrency ventures by focusing on the artificial intelligence (AI) sector in a tech-driven era.

InQubeta introduces a non-fungible token (NFT) marketplace rooted in equity and powered by blockchain technology and smart contracts.

By engaging in this presale, acquiring QUBE means aligning with the AI revolution and potentially reaping the rewards.

InQubeta employs a unique token vesting approach, gradually releasing tokens over 12 weeks, promoting stability and investor trust.

As Bitcoin enters the bullish month of Uptober, with October historically favoring cryptocurrencies, InQubeta aligns with the trend.

This presale, spanning ten stages, has sold nearly 381 million tokens, amassing over $3.4 million in stage 4.

With the QUBE tokens current value at $0.0133 and its positioning on the defi crypto list, experts foresee InQubeta mirroring BTCs rally.

To join InQubetas presale, investors can acquire QUBE using Ethereum (ETH), BTC, or USDT.

After the presale, buyers will receive airdropped tokens, including attractive bonus tokens.

Uptober, a term coined by the crypto community, signifies the historical bullish trend that often sweeps across Bitcoin and other cryptocurrencies in October. Historical data since 2013 shows October as predominantly positive for Bitcoin, with just two exceptions.

On Oct. 1, Bitcoins price soared past $28,000, marking its highest level since mid-August. This surge, propelling BTC to nearly $28,500 and recording a 4% increase in under 24 hours, rekindles hopes of a sustained uptrend.

This bullish BTC sentiment is rippling across the crypto space, boosting market sentiment for coins like XRP, ADA, and QUBE. As Bitcoin takes the lead, these top defi coins, renowned for innovation, could gain more investor attention, potentially fueling a broader crypto market uptrend in Uptober.

Ripple, a blockchain company, enables fast and cost-effective international money transfers. XRP is a bridge between different fiat currencies, making cross-border transactions swift and efficient. Ripples vision is to revolutionize global financial transactions, making value move as seamlessly as information.

XRP has shown signs of a potential breakout in recent market developments. On-chain transaction volume in profit, as shown by the data from Santiment, reached 3.48 billion XRP on Oct. 1. XRP has not witnessed such profit-taking levels since February 2021, suggesting that the coin may be on the brink of a significant price move.

Cardano is a blockchain platform known for its emphasis on sustainability, scalability, and a research-based approach to development.

Recently, ADA broke above a descending triangle pattern. This formation signals a potential bullish trend reversal that may support prices in the sessions ahead.

Following the breakout, ADA rallied, increasing investors optimism.

Cardanos bullish performance aligns with the prevailing sentiment of optimism this Uptober, suggesting that it might capitalize on improving market sentiment.

Uptober expectations may support Bitcoin and could improve market sentiment. Conversely, XRP, ADA, and QUBE are following suit, gaining momentum and increasing investor interest. InQubeta can be a go-to choice for seasoned investors searching for opportunities in the AI sector in the ongoing QUBE presale.

Visit InQubeta presale

Join the InQubeta communities

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Bitcoin's 'Uptober': possible impact on XRP, Cardano, and InQubeta - crypto.news

Bitcoin minted a profit of 0.91 percent on Thursday, October 5 to trade at the price point of $27,680 (roughly Rs. 23 lakh). This marks the third consecutive day that Bitcoin is trading in the range of $27,000 (roughly Rs. 22.4 lakh). Over the last day, Bitcoin has shown a substantial rise in its value. The asset, that was priced $27,403 (roughly Rs. 22.8 lakhs) yesterday, rose by $277 (roughly Rs. 23,050). As per market experts, October is expected to bring market consolidation and sideways movement, providing opportunities for long-term investors.

Bitcoin's gain follows a market calm-down after Monday's sharp rally, easing traditional market headwinds, Rajagopal Menon, Vice President, WazirX told Gadgets 360.

Ether joined Bitcoin on the profit-side of the crypto chart on Thursday. ETH is presently trading at $1,643 (roughly Rs. 1.36 lakh) after seeing a miniscule gain of 0.8 percent. In the last 24 hours, ETH rose in price by $3 (roughly Rs. 250).

Other cryptocurrencies that registered gains today include Binance Coin, Cardano, Dogecoin, Polygon, Litecoin, and Shiba Inu.

Small profits were also churned by Chainlink, Avalanche, Monero, Cronos, Bitcoin SV, and Elrond.

Avalanche's AVAX, a Layer 1 blockchain, has been a top performer in CoinDCX among major cryptocurrencies, with an impressive eight percent surge in the last 24 hours, the CoinDCX research team told Gadgets 360. This rally in AVAX price comes due to the gaining popularity of its social app Stars Arena, which is a direct competitor of the very popular base chain app Friend.tech.

The overall valuation of the crypto market rose by 0.74 percent in the last 24 hours to sit on the mark of $1.09 trillion (roughly Rs. 90,73,323 crore), as per CoinMarketCap.

A notable number of cryptocurrencies did see losses today. These include Tether, Ripple, USD Coin, Solana, Tron, Polkadot, and Bitcoin Cash.

Industry experts are optimistic that newer developments and upcoming Web3 developments will keep the sector hot and running.

A special focus yesterday remained on the exit of Jayanti Kanani from Polygon, popularly known as JD, the co-founder of India-based layer-2 MATIC (+0.4 percent). According to his post on x.com, Jayanti has embarked on a new journey, which could mean a new venture he might be starting. The overall crypto market seems to be calming down after Monday's sharp rally, Shubham Hudda, Senior Manager, CoinSwitch Markets Desk told Gadgets 360.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Crypto Price Today: Bitcoin and Ether See Profits, Losses Hit Altcoins Like Solana, Tron - Gadgets 360

1. Google packs more artificial intelligence into new Pixel phones, raises prices for devices by $100  Tech Xplore
2. Google Pixel 8 Pro hands-on preview: artificial intelligence is genuinely cool  PhoneArena
3. Google launches Pixel 8, smartwatch with new AI feature  Reuters

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Google packs more artificial intelligence into new Pixel phones, raises prices for devices by $100 - Tech Xplore