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First Mover Americas: Bitcoin Hits Highest Price in a Month
The latest price moves in crypto markets in context for Oct. 2, 2023.
Updated Oct 3, 2023, 2:07 p.m. Published Oct 2, 2023, 1:21 p.m.
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This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
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Bitcoin rose above the $28,000 mark early Monday to log its highest price in over a month as analysts pointed to ETF optimism and seasonality among the reasons behind the gains. Traders at Japanese exchange Bitbank were already eyeing the $28,000 level for bitcoin last week, as CoinDesk reported. The $28,500 acted as a major support in the previous bull market and could be a key price to watch for in the coming weeks as it potentially flips into a level of resistance. In the past 24 hours, ether bumped over $1,700, bnb and added 3.3%, while rose 5.5%. Solana’s SOL tokens led major gains at 14.5%, mainly on renewed optimism for the network among some traders.
It is officially trial week for FTX founder Sam Bankman-Fried. It’s been exactly nine months and 20 days since the former crypto CEO got arrested at his then-home in the Bahamas. On Tuesday, he is set to start the trial in which he will win back his freedom, or be locked up for what a federal judge says could be a “very long” time. Thousands of pages of evidence, ranging from internal documents to audio recordings, will be presented and fought over in the next six weeks as U.S. prosecutors try to prove that the former FTX founder knowingly defrauded customers and business partners. Arguably the most damning evidence – or lack thereof – could come from the recollections and personal opinions of Bankman-Fried’s former colleagues, friends and housemates.
Deus X Capital, a family office-backed investment firm, launched today with Tim Grant as CEO, the company said in a statement. The company begins with $1 billion of assets, including existing investments and capital to be deployed in private equity, venture capital and fund allocation opportunities in the digital asset, blockchain, fintech and institutional capital markets sectors. Grant was previously head of EMEA at Mike Novogratz’s Galaxy Digital (GLXY.TO). Prior to this he was CEO of SIX Digital Exchange and worked at TradFi giant UBS. Stuart Connolly has been appointed chief investment officer, the firm said.
