What happened last night...Cryptocurrency morning news for October 30th

1. Bitcoin, 'Unstoppable' Surge... Only $160 Away from All-Time High
Bitcoin (BTC) surged on the 29th, and around 4 AM on the 30th, it recorded $73,544, just $160 away from the all-time high of $73,700 set in March this year. Due to multiple positive factors such as the successful launch of a Bitcoin spot ETF in the US and the upcoming US presidential election, Bitcoin holders were found to be in a 100% profit state as of early morning on the 30th. The on-chain analysis platform IntoTheBlock reported that all 53.94 million Bitcoin wallets have turned profitable. Based on Bitcoin's recent surge, many experts point to the fact that Bitcoin has broken through major resistance levels on the chart, and predict that a new all-time high will be achieved in the near future.

2. Ripple Co-Founder: "Harris Will Support Crypto Industry Growth"
Chris Larsen, co-founder of Ripple, appeared in an interview with CNBC on the 29th and revealed Vice President Kamala Harris' plans to support cryptocurrencies. He said "the war on crypto is over" and that if Harris is elected president, she will focus on an economic message that encourages technological innovation in the US, particularly supporting the growth of the cryptocurrency industry.

3. $138.5 Billion in Bitcoin Short Positions Liquidated Amid Surge
As Bitcoin surged on the 30th, about $100 million (approximately 138.5 billion won) worth of short-term bearish (short) betting positions in the Bitcoin futures market were liquidated. Crypto media Crypto Potato reported that as of the 30th, about $110 million in short positions remained in the Bitcoin derivatives market after the short betting liquidation.

4. Bhutan Government Sells $66 Million in Bitcoin
The Bhutan government, which has been mining Bitcoin since about 5 years ago and holding it in the government budget, sold $66 million (about 91.4 billion won) worth of Bitcoin on the 29th. Crypto news outlet CryptoNewsWire reported that the Bhutan government wallet transferred about 929 Bitcoin to a Binance wallet on the 29th. The Bitcoin price at the time of the Bhutan government's Bitcoin transfer was around $71,000.

5. Ethereum Developer: "20% Workforce Reduction Planned... Pursuing Decentralization"
Consensys CEO Joe Lubin announced on the 29th that he will lay off 162 employees in line with the company's decentralization plans. In an interview with crypto media CoinTelegraph, Lubin CEO said the layoffs were decided to operate a smaller and more efficient organization. Consensys has recently received a 'Wells Notice' from the US Securities and Exchange Commission (SEC) for alleged securities law violations, and a lawsuit against the SEC was dismissed in September this year.

Reporter Kwon Seung-won ksw@blockstreet.co.kr