The hashrate of bitcoin has reached a new high of 700 EH/s, showing a 6% increase in the past seven days. The hashprice of bitcoin has also risen to $50 PH/s, which is a two-month high, due to the increase in mining profitability caused by a rise in transaction fees and bitcoin's price. The seven-day moving average of bitcoin's hashrate has reached an all-time high of 703 EH/s, according to Glassnode data.

Title: Electronic Cash Without a Trusted Third Party

Golden Finance reported that QCP released a weekly summary stating that this week was an exciting one for cryptocurrency. BTC rose by 10.48%, reaching a high point of $69,000, and the psychological barrier of $70,000 is now within reach. There are no major macro data as resistance next week.

US prosecutors revealed that two young men were accused of planning one of the largest cryptocurrency thefts in US history. After stealing $230 million worth of Bitcoin, they began to spend extravagantly. However, at least $100 million of the stolen Bitcoin is still missing, according to the judge. Authorities believe that this cryptocurrency theft may be related to another crime.

Golden Finance reported that Bitwise's Chief Investment Officer, Matt Hougan, posted on X platform that 7 factors may drive Bitcoin to reach $100,000, including:

According to a report by Aspen Digital, crypto assets are becoming increasingly popular among Asian private wealth managers, as 76% said they are investing in cryptocurrencies.

The Bitcoin industry could be in for yet another four years of harassment and attacks if Kamala Harris is elected president.

According to the world's largest prediction market, Polymarket, the pro-Bitcoin candidate for the upcoming presidential election, Donald Trump has taken a 13% lead over Kamala Harris.

OKX announced a grant to the Bitcoin developer fund 2140 Foundation. The specific amount of the grant has not been disclosed, and this funding is intended to promote the long-term security, resilience, and maintainability of the Bitcoin network. As part of its ongoing funding program, OKX has provided nearly $2 million in Bitcoin developer grants, with a focus on developing the developer ecosystem, as well as Bitcoin security and adoption.

Bitcoin is approaching its longest period of sideways market range since the April halving, currently at 285 days. Contributing factors include uncertainty surrounding the U.S. election, rising U.S. Treasury yields, and the extension of Mt. Gox's repayment deadline to October 2025. Despite historically bullish trends for Bitcoin in October, the lackluster price action has left bulls disappointed. If there is no bull market in the next two weeks, this will mark the longest post-halving sideways period in Bitcoin's history.