On the occasion of Bitcoin’s 15th anniversary, renowned artist Frédéric Imbert unveils The Bitcoin Masterpiece, an innovative work that fuses art and technology. This limited edition collection consists of 99 pieces. The artwork pushes the boundaries of art while carving its place in the history of the crypto space.
The Bitcoin Masterpiece: An Artwork Reflecting the Bitcoin Revolution
An exceptional piece of art is set to leave its mark on the history of cryptocurrency. Frédéric Imbert, alongside his son Bastien Imbert, is preparing to launch The Bitcoin Masterpiece, a groundbreaking creation inspired by the Bitcoin logo, merging art with cutting-edge technology.
This work stands out with its sleek and sophisticated design. The carbon and aluminum frame, measuring 95 cm x 95 cm x 5 cm and weighing 12.8 kg, incorporates advanced electronic components. Using 146 glass displays and 217 low-pressure neon lamps, the piece lights up the Bitcoin logo second by second, through successive patterns, creating a stunning visual effect. Frédéric Imbert meticulously hand-assembles each piece in his Paris workshop, ensuring exceptional quality.
The artwork offers a dynamic and captivating representation of the Bitcoin universe. It incorporates several interactive elements, making it a living and evolving piece:
● Progressive and random illuminations of the Bitcoin logo
● Real-time display of Bitcoin’s market price, allowing for real-time tracking of its fluctuations
● Presentation of essential Bitcoin-related data, providing an overview of the ecosystem
This fusion of art and technology transforms each piece into a gateway to the crypto world, while maintaining a refined aesthetic worthy of the most prestigious contemporary art pieces.
The Limited Edition for Enthusiasts and Collectors
The Bitcoin Masterpiece collection is available in 99 numbered pieces. Each piece, unique and customizable upon request, receives the artist’s meticulous attention. Its rarity, combined with artisanal quality and technological innovation, makes it a potential investment for art collectors and crypto enthusiasts alike.
Each piece is priced at 1 Bitcoin, reflecting the ambition of the project, its symbolism, and its deep connection to the leading cryptocurrency.
The Bitcoin Masterpiece will debut at an exclusive vernissage held at The Outpost, a private mansion in the heart of Paris’s 17th arrondissement. The event that will take place on October 23rd will mark the official launch of the collection.
To register for the event, visit: https://lu.ma/afep9ro4
The Visionary Artist Behind The Bitcoin Masterpiece
Frédéric Imbert, the creative mind behind The Bitcoin Masterpiece, is a renowned artist and engineer. Born in Monaco and based near Paris, he has distinguished himself for more than two decades by his ability to fuse art and science into unique contemporary creations.
His passion for electronics and intricate watchmaking is reflected in each of his works, which often incorporate rare and iconic electronic components. Imbert’s distinctive style is characterized by the use of vintage and modern parts, creating visual symphonies that celebrate the passage of time and pay homage to technological and architectural icons.
The Collection Backed by Esteemed Partners
The Bitcoin Masterpiece is already supported by several renowned partners in the crypto and digital art industries. These collaborations will help boost the artwork’s visibility and strengthen its position in the world of crypto art.
The Bitcoin Masterpiece represents the convergence of technological innovation and artistic expression. This creation by Frédéric Imbert offers collectors, cryptocurrency enthusiasts, and digital art lovers the chance to own a work that stands at the crossroads of these worlds. The Bitcoin Masterpiece is destined to become a symbol of the crypto era in the art world.
Twitter : @BTC_Masterpiece
Instagram : thebitcoinmasterpiece
Event : https://lu.ma/afep9ro4
James Howells, an IT engineer from Newport, UK, is suing Newport City Council for 495 million British pounds (approximately $647 million) after accidentally discarding a hard drive containing 8,000 Bitcoin.
According to WalesOnline, Howells has repeatedly sought permission from the council to retrieve the hard drive from a local landfill but has faced consistent rejection.
The drive, which was mistakenly thrown out during a household clearout in 2013, now holds Bitcoin valued at nearly half a billion pounds.
Howells has been trying to recover the lost hard drive for over a decade. The hard drive ended up in a landfill after he mistakenly placed it in a bin liner that was sent to a recycling center.
Back in 2013, the 8,000 BTC was worth about 1 million pounds (around $1.3 million), but its value has surged since then.
Howells has assembled a team of legal experts and filed a court claim, which is expected to be heard in December.
Despite offering Newport City Council 10% of the recovered Bitcoin’s value if the hard drive is found, the council has consistently denied his requests, citing environmental concerns.
The landfill in question has been flagged for violations of its environmental permit, including high levels of asbestos, arsenic, and methane. The council argues that excavating the site could cause harm to the surrounding environment and maintains that its operations follow strict protocols.
In 2022, Howells reportedly proposed an $11 million plan to recover the lost hard drive, involving the use of technology to locate it among 110,000 tonnes of garbage. The plan would come at no cost to the council, but Newport City Council continues to refuse, questioning the legality and feasibility of Howells’ efforts.
To avoid losing access to Bitcoin, it’s crucial to securely store hardware wallets, protect private keys offline, and back up recovery phrases in multiple secure locations.
Bitcoin (BTC) climbed to multi-day highs on October 12, as markets mirrored last weekend’s brief upward movement.
Data from Cointelegraph Markets Pro and TradingView showed BTC nearing $63,500, with a 1.5% gain on the day, similar to its behavior the previous weekend.
Bitcoin made strong gains during the October 11 Wall Street trading session after spending much of the week testing the $60,000 support level.
Following U.S. equities, Bitcoin brushed off new inflationary pressures in the U.S., despite markets scaling back expectations for future interest rate cuts.
“Initial low was swept & clearly inability to breakdown so naturally there’s a reversion,” wrote popular trader Skew in his analysis of 4-hour timeframes on X.
Skew pointed to relative strength index (RSI) scores above 50 and spot demand as key indicators for a potential move upward.
“Monthly & Weekly open are always pretty pivotal so very important for buyers to reclaim for another shot at $65K,” he concluded.
The monthly and weekly open levels are $62,850 and $63,330, respectively, making this price range a critical battleground for BTC.
Analyzing liquidity in exchange order books, trading resource Material Indicators identified two additional upside targets for BTC, just below $65,000.
“FireCharts shows Bitcoin support stacking above $63k, and it looks like bulls want to challenge the 200-Day Moving Average,” Material Indicators explained to its X followers.
“If they are successful in clearing the 200-Day MA, they will attempt to R/S flip Technical Resistance at the 2021 Mid-Cycle Top at $64.9k.”
These levels suggest that Bitcoin’s next significant challenge lies just below the $65,000 mark, where market momentum will be tested further.
Bitcoin is on the verge of potentially revisiting long-term range lows before the “full bull” market takes over, according to analyst Cole Garner in his latest analysis released on October 10.
Garner warned that “capitulation is incoming” for Bitcoin markets, which could result in a sharp decline before recovery.
While Bitcoin could still benefit from global liquidity trends, Garner believes that an initial shock may surprise many traders.
He pointed out that on-chain liquidity is tightening, which could impact Bitcoin’s price performance.
“Liquidity on-chain is tightening: I smell capitulation incoming,” he summarized, calling it a “common pre-requisite to full bull.”
Accompanying his analysis were charts displaying the Liquid Vision index, which tracks global central bank liquidity.
Garner wrote, “Liquidity onchain starts at its source, the central banks. Liquid Vision is my lens. It’s primed for a buy signal.” He added that if China doesn’t initiate a liquidity boost, the U.S. Federal Reserve or Japan could, though further downside may come first.
Recent policy shifts from China’s central bank and the U.S. Federal Reserve were referenced in the analysis. Last month, China introduced economic stimulus measures, but risk-asset traders were disappointed this week when the country paused further action.
Additionally, Garner highlighted the decreasing supply of stablecoins like Tether (USDT) and USD Coin (USDC), which could also impact market liquidity.
“Range lows before $100k? Total facepalm,” Garner remarked.
However, he remained optimistic, noting, “We have a higher high in place. Bullish market structure. Even at range lows in peak fear – still bullish structure.”
Garner’s analysis suggests that despite possible short-term declines, the long-term outlook for Bitcoin remains positive.
Bitcoin hovered around the $62,000 support level on October 9 as markets anticipated the release of key U.S. macroeconomic data.
Data from Cointelegraph Markets Pro and TradingView revealed that Bitcoin’s price action remained tightly range-bound, with multiple retests of the $62,000 level heading into the daily close.
With little momentum in either direction, BTC/USD left traders in a holding pattern as they waited for several upcoming U.S. economic reports.
The first major event, scheduled for 2 p.m. ET on October 9, was the release of the minutes from the Federal Reserve’s September meeting, which included a surprising 0.5% interest rate cut.
Following that, the Consumer Price Index (CPI) and Producer Price Index (PPI) reports are expected on October 10 and 11, respectively, with the CPI report also including unemployment data.
“Generally speaking, risk assets haven’t moved much and will likely start to trend again post-CPI & PPI later this week and into the end of October,” noted trader and analyst Skew in a post on X.
Skew also highlighted that the end of October will bring other significant macroeconomic figures, including GDP estimates and the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, which could have a high impact on markets.
Regarding Bitcoin, sentiment remained cautious as more traders began to expect further short-term support tests.
“Many now expect $BTC to sweep the lows around 61,650, which is the most obvious thing it could do,” wrote trader Muro in an October 9 post on X.
Skew described the Bitcoin market as being in a period of “wide market & chop before trend resumes.”
On the demand side, onchain analytics platform CryptoQuant delivered discouraging news for Bitcoin bulls.
The Coinbase premium, a measure of demand by comparing BTC/USD prices on Coinbase to BTC/USDT prices on Binance, had fallen sharply.
As CryptoQuant contributor BQYotube explained, “Coinbase Premium has been falling to negative, accelerating while the price was climbing,” signaling that “the US is not interested in the current rally.”
The United States Supreme Court has declined to hear a case involving the ownership of 69,370 Bitcoin, valued at $4.38 billion, which the US government seized from the dark web marketplace Silk Road.
The request for review was made by Battle Born Investments, a company that claimed it had purchased the rights to the seized Bitcoin through a bankruptcy estate.
The Supreme Court’s decision not to take on the case may pave the way for the US government to sell the Bitcoin.
Battle Born had previously lost its case in both a district court in 2022 and an appeals court in 2023, failing to convince the courts that it had acquired the Bitcoin through a bankruptcy claim following Silk Road’s shutdown in 2013.
A San Francisco appellate court judge dismissed the case, ruling that the company did not have a valid claim to the Bitcoin.
The Supreme Court only accepts about 100 to 150 of the more than 7,000 cases it is asked to review each year.
With the Court’s refusal to review the case, the US government’s civil forfeiture action is more likely to succeed, allowing the sale of the Bitcoin.
On July 29, the US government moved approximately $2 billion worth of Silk Road-linked Bitcoin, with the Marshals Service using Coinbase Prime to hold the seized assets.
Governments selling large amounts of Bitcoin in the past have caused significant market volatility.
For example, when the German government sold almost 50,000 Bitcoin, worth over $3.15 billion, in June and July, the market experienced considerable fluctuations.
It’s unclear what the US plans to do with the seized Bitcoin.
Republican presidential candidate Donald Trump has pledged to build a “strategic Bitcoin stockpile” if he wins the election, while Democrat candidate Kamala Harris has not made any public statements regarding cryptocurrency policy.
Silk Road was founded in 2011 by Ross Ulbricht, who is currently serving a life sentence for money laundering, narcotics distribution, and other charges.
Trump has promised to release Ulbricht from prison if he wins the presidency.
Bloomberg’s senior exchange-traded fund (ETF) analyst, Eric Balchunas, stirred up controversy within the Ethereum community after sharing what many considered “misinformation” in a now-deleted post on X.
On October 7, Balchunas posted an excerpt from Benjamin Hart’s book Bitcoin: Beginner’s Guide, along with a comment stating that Ether “just isn’t the same or as secure” as Bitcoin, in response to a crypto book recommendation request from Nate Geraci, president of ETF Store.
The excerpt from Hart’s book claimed that the U.S. government could “shut down Ethereum” by instructing Amazon Web Services (AWS) to turn off its cloud services.
However, data from Ethernodes shows that only 28.4% of Ethereum nodes use AWS for hosting, which would not be enough to take the entire network offline.
The book also suggested that a rogue state or terrorist organization could kidnap Ethereum co-founder Vitalik Buterin and force him to hand over “all the Ether they want.”
This post received strong backlash, with Ethereum educator Anthony Sassano accusing Balchunas of spreading “absolute blatant misinformation and pretty much complete propaganda.”
Sassano criticized Balchunas further, stating, “You should be utterly ashamed of yourself for even sharing this (and you only deleted it because you didn’t want to deal with people calling you out).”
Consensys product manager Jimmy Ragosa also weighed in, calling the excerpt “the most propaganda-ridden paragraph ever.”
Balchunas’ fellow Bloomberg ETF analyst James Seyffart humorously responded to the situation, predicting that the replies to the post would be “amazing.”
Balchunas, in turn, acknowledged the uproar but indicated he didn’t have time to address the reactions, stating, “Lol I don’t have time today, will just leave up Bitcoin sections.”
Meanwhile, Ethereum developers continue to focus on solo staking and lowering hardware requirements to further decentralize the blockchain.
Bitcoin’s nearly 10% drop last week was seen as a “healthy realignment” that should reduce the risk of sudden price declines in the coming days and weeks, according to analysts from crypto exchange Bitfinex.
In an October 6 report, Bitfinex analysts noted that Bitcoin’s dip to the $60,000 support level, along with other critical technical factors, indicated reduced volatility.
Bitcoin had rallied to $66,600 on September 27, but optimism quickly faded as rising geopolitical tensions in the Middle East and concerns over the U.S. economy dampened the risk appetite.
From September 27 to October 4, Bitcoin experienced a 9.94% decline from peak to trough, which analysts attributed to a “cautious sentiment” among investors at higher price levels.
Bitfinex analysts speculated that buyers might look to accumulate more Bitcoin at lower prices.
“As Bitcoin experienced its first consecutive series of four red days since early August, the market saw a healthy realignment,” they said.
The drop also led to a reduction in open interest, falling from $35 billion to a more stable $31.8 billion.
On October 1, over $450 million worth of long positions were liquidated during the decline, suggesting that the market was biased toward capturing the upside.
“The large amount of liquidations relative to the price decline highlights the long-biased leveraged positioning in the crypto market, especially after crossing the $65,000 technical and psychological level,” the analysts wrote.
The report also noted that positive U.S. labor data in September and October had buoyed the market, with broader optimism expected to return as the Federal Reserve may cut interest rates again in November.
Looking ahead, the analysts pointed to the recent rebound to $62,650, which showed signs of “spot buying aggression.”
However, they cautioned that it’s too early to make “definitive conclusions” about short-term market direction.
“As the market remains reactionary, clues for future direction for BTC and the market in general may emerge from early-week trading sessions, particularly in the U.S.,” the report concluded.
Bitcoin faces potential selling pressure as the dollar value of long-term holders’ (LTH) BTC exposure declines by billions of dollars.
New research from onchain analytics platform CryptoQuant reveals that while speculators are stepping in, seasoned holders are becoming more risk-averse.
Bitcoin long-term holders, who have held BTC for 155 days or more, appear to be taking profits amid growing enthusiasm for Bitcoin reaching all-time highs.
CryptoQuant analyzed the net position change of LTH entities and found a “sharp decrease” in their BTC exposure.
“There has been a recent sharp decrease of $6 billion (from $19 billion to $12 billion) in the LTH realized cap, suggesting that long-term holders are likely taking profits or closing buying positions,” CryptoQuant contributor Amr Taha noted, accompanied by an illustrative chart.
This chart displays the net change in the LTH realized cap, which is the sum price at which long-term holders’ coins last moved.
In contrast, short-term holders (STHs), who have held BTC for up to 155 days, are increasing their positions.
“Conversely, the STH realized cap has seen a recent sharp increase of $6 billion, moving from -$17 billion to -$11 billion, indicating that short-term holders are likely taking on more risk or increasing their buying positions,” Taha continued.
Additional analysis highlights close interaction between the realized price of BTC moving within one day to one week ago — the “hottest” part of the BTC supply — and the Bitcoin spot price.
At the time of writing, the one-day to one-week realized price was $62,080, nearly identical to spot BTC/USD.
Taha concluded, “These rejections could imply that momentum is weakening after these price attempts to stay above the realized price, potentially leading to short-term corrections.”
The strong United States September jobs report signals a possible slowdown in interest rate cuts but remains bullish for Bitcoin (BTC) as investors warm to riskier assets, Zach Pandl, Grayscale’s head of research, told Cointelegraph.
“Conversation about Fed rate cuts and debate about larger government deficits continue alongside solid economic growth, which should be net-positive for investors’ risk appetite and may reintroduce inflation risk in the medium term,” Pandl said.
“Grayscale Research expects Bitcoin to benefit in this risk-positive environment,” he explained.
The US economy gained approximately 254,000 jobs in September, far exceeding economists’ expectations of around 140,000 new jobs, according to the US Bureau of Labor Statistics (BLS).
Spot BTC prices reached an intraday high of more than $62,300 on Oct. 4 following the stronger-than-expected jobs data.
Futures traders expect a standard 0.25% rate reduction following the Fed’s November policy meeting, according to CME Group.
On Sept. 18, the Federal Reserve cut the federal funds rate by 0.5% after a slowdown in inflation and sluggish economic performance in August.
In August, the BLS reported job additions of less than 160,000 and annualized inflation rates of less than 3%.
Current futures market pricing reflects expectations of no more than a quarter of a percent interest rate cut at the Fed’s next meeting in November, with rates currently targeted at around 4.75%.
The bullish jobs report and rate cut expectations contribute to the idea of an “Uptober,” or a fourth-quarter rally for Bitcoin.
Another possible driver is the continued decline in BTC held on centralized exchanges.
Data from CryptoQuant indicates that there are over 2.8 million BTC on centralized exchanges, the lowest number since November 2018, which is 500,000 less than the amount seen in March.
Crypto markets have largely recovered from a sharp pullback on Aug. 5 that saw BTC prices plunge by around 18% in a single day.
Grayscale is the largest crypto asset manager, with over $20 billion in assets under management across its funds, according to the company.