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Bitcoin (BTC) recently reached $35,000, sparking optimism in the crypto market. IntoTheBlock has analyzed key factors shaping its future, from institutional interest to cyclical patterns.  Institutional support for Bitcoin Crypto market data Analysis platform IntoTheBlock takes a dive into Bitcoin’s on-chain metrics this week, shedding light on its immediate and long-term prospects . Bitcoin’s resilience is evident, buoyed by both tactical strategies and institutional backing. We analyzed on-chain metrics regarding Bitcoin’s outlook in this week's newsletter. Bitcoin is showing strength both from a tactical and longer-term perspective, with institutional demand reinforcing cyclical tailwinds. Read the article for more detailshttps://t.co/1KpxdAHpcR — IntoTheBlock (@intotheblock) October 28, 2023 According to the report, Bitcoin’s fees have surged by 44.8%, mirroring increased transaction activity during the recent price rally. Meanwhile, Ethereum...

Decentralized Crypto prediction market Polymarket is currently giving Binance a roughly 12% chance of becoming insolvent by the end of the year. And while this number may seem pretty low, the fact that the bet is being taken at all is noteworthy in itself. According to Polymarket ’s website, the bet, which went live on July 17, will resolve to ‘Yes’ “if it is announced by December 31, 2023, 11:59 PM ET that  Binance .com is insolvent or is filing/has filed for any variety of bankruptcy.” It will also resolve to ‘Yes’ if “ Binance.com withdrawals for BTC and/or ETH are suspended for a majority of users for at least 7 full days (168 hours) in a row by December 31, 2023, 11:59 PM ET.” If neither of the above criteria are met, this market will resolve to ‘no’. While Binance US and its performance aren’t taken into account for this wager, it’s worth taking into account that just las...