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Bitcoin "whales" are on a feeding frenzy. The number of wallets holding over 100 BTC just hit a 17-month high. This comes as smaller traders lose their nerve and dump their coins. Blockchain analytics firm Santiment dropped some eye-opening stats. In August alone, 283 wallets crossed the 100 BTC threshold. That's no small change. "As crypto prices have let retail traders down, Bitcoin whales are growing in number," Santiment said. The total count of these chunky wallets now sits at 16,120. It's not just the big fish, either. "Shark" wallets, holding 10+ BTC, are also beefing up their stacks. All told, wallets in the 10-10,000 BTC range have scooped up over 133,000 coins in the past month. That's a cool $7.6 billion at current prices. Blockstream CEO Adam Back noticed the trend. He pointed out that whales have been buying 450 BTC daily since a price dip on August 28. "Go ahead sell them cheap corn," he quipped. Why the whale feast? Santiment reckons smaller traders are "impatiently" offloading their holdings. The pressure's on as prices slide. CryptoQuant's Axel Adler Jr. thinks more pain could be coming. He warns the number of folks willing to sell at a loss might double if current trends continue. The market mood isn't great. The Crypto Fear & Greed Index has been stuck in "Fear" territory. It averaged a measly 37 in August. But not everyone's doom and gloom. Bitgrow Lab's Vivek Sen sees a silver lining. He notes that heavy whale buying has often preceded new Bitcoin all-time highs. "The last time whales bought a lot, Bitcoin hit a new ATH," Sen said. Time will tell if history repeats itself.

The hunt for Satoshi Nakamoto, Bitcoin's enigmatic founder, has taken a new turn. Fresh revelations from the FBI have sparked renewed interest in the cryptocurrency mystery. Investigative journalist Dave Troy filed a Freedom of Information Act (FOIA) request. He wanted any FBI records on Satoshi Nakamoto. The request covered all FBI offices and facilities. Troy's FOIA appeal was broad. He asked for "any and all records pertaining to Satoshi Nakamoto". This included documents that might label Nakamoto as an individual, group, or even a government entity. The FBI's response was cryptic. They referred to Nakamoto as a "third party individual". This term is often used for foreign nationals by US intelligence agencies. It hints at possible knowledge while maintaining ambiguity. Troy shared his thoughts on social media platform X. "FBI doubles down on its assertion that 'Satoshi Nakomoto' ... is a 'third party individual,'" he noted. This response, he said, is typical when asking about foreign nationals. The journalist expressed concern about the FBI's interpretation. He suggested two possibilities: either the FBI knows Nakamoto's identity and won't confirm, or the FOIA office misunderstood his request. The FBI used a "Glomar response". This legal tactic neither confirms nor denies the existence of records. It's often used when national security or privacy is at stake. This isn't the first attempt to unmask Nakamoto through official channels. In 2018, Motherboard writer Daniel Oberhaus faced similar roadblocks. He requested emails containing Nakamoto's name from both the FBI and CIA. Meanwhile, Bitcoin ETFs are gaining ground. Bloomberg ETF analyst Eric Balchunas pointed out that US spot Bitcoin ETFs now hold about 921,540 BTC. That's close to Nakamoto's estimated 1.1 million BTC stash. "US spot bitcoin ETFs now have 84% of the Bitcoin that Satoshi has," Balchunas said. At this rate, they could surpass Nakamoto's holdings by Halloween. The saga continues. The FBI's tight-lipped response has only added fuel to the fire. As Bitcoin's influence grows, so does the intrigue surrounding its creator. Will Satoshi Nakamoto ever step out of the shadows? For now, it's anyone's guess.

Stacks, a Layer-2 network built on Bitcoin, has started its Nakamoto upgrade. It's a big deal for Bitcoin fans. The leading crypto lags behind some of its rivals in terms of Layer-2 adoption. The upgrade aims to speed up transactions and enable smart contracts on the world's largest cryptocurrency network. Named after Bitcoin's mysterious creator, the Nakamoto upgrade is shaking things up. It's decoupling Stacks' block production from Bitcoin's schedule. This could be a game-changer for the network's efficiency. Network operators have a two-week window to implement the upgrade. After that, a hard fork will seal the deal. The upgrade introduces a new block production method using a proof-of-transfer consensus algorithm. Here's how it works: users burn bitcoin to mine Stacks blocks and get rewards. It's like killing two birds with one stone. The implementation kicked off in April, with block "signers" coming online to validate transaction "tenures". What are tenures, you ask? They're periods when miners are assigned to produce multiple blocks. These blocks eventually settle on Bitcoin. It's a clever way to boost efficiency. Stacks isn't just about speed, though. Its main goal is to bring more utility to Bitcoin. We're talking smart contracts and other DeFi functions using Bitcoin as a base layer. That's pretty exciting stuff for crypto enthusiasts. As part of this grand plan, Stacks is rolling out sBTC. It's a bridging asset that lets users move their BTC into the Stacks ecosystem. This could open up a whole new world of possibilities for Bitcoin holders. But it's not all sunshine and rainbows in the crypto world. STX, the token that fuels the Stacks network and rewards miners, has taken a hit. It's down over 8% in the last 24 hours. Ouch. To be fair, the broader digital asset market isn't doing great either. The CoinDesk 20 Index has dropped nearly 4%. It's been a rough day for crypto across the board. Now, let's dive a bit deeper into Bitcoin Layer 2 solutions like Stacks. These networks are built on top of the main Bitcoin blockchain. They aim to solve some of Bitcoin's limitations, like slow transaction speeds and limited smart contract capabilities. Layer 2 solutions can process transactions off the main chain, then settle them in batches on the Bitcoin blockchain. This approach can significantly increase transaction throughput and reduce fees. It's like adding an express lane to a crowded highway. Some other popular Bitcoin Layer 2 solutions include the Lightning Network and RSK. Each has its own approach to scaling Bitcoin and adding functionality. But Stacks' Nakamoto upgrade could give it an edge in this competitive space. These Layer 2 solutions could play a crucial role in Bitcoin's future. They might just be the key to making Bitcoin more than just a store of value. Ethereum has the egde in terms of Layer-2 solutions now, but Bitcoin fans would love to see this situation changing. With upgrades like Nakamoto, we might see Bitcoin become a more versatile platform for decentralized applications and finance.

Bitcoin's recent price rally is losing steam. The cryptocurrency is struggling to maintain its gains above $60,000. Popular trader Credible Crypto has sounded the alarm. He warns of a possible "liquidation cascade" towards $50,000. BTC/USD is hovering around $62,403, down 1% from yesterday. It had briefly touched $65,100 on Bitstamp. Market participants are getting jittery. Some argue buyers lack the firepower to keep the short-term uptrend going. "Binance wants blood," Credible Crypto tweeted. He's not mincing words. The trader points to concerning data from Binance. Spot market selling volume is outpacing buying. Open interest on Bitcoin futures remains high. Credible Crypto expects a drop to "range lows". He's been banging this drum for days now. Another trader, Crypto Chase, shares the bearish sentiment. He sees Bitcoin potentially slipping below $60,000. "If we lose 59K~ cleanly, I think we head back towards mid 50K's if not lower," Chase tweeted. Talk about a gut punch for the bulls. But it's not all doom and gloom. Some see potential for a bullish turnaround. QCP Capital, a trading firm, is more optimistic. They're eyeing U.S. interest rate cuts as a potential catalyst for crypto. The firm highlights strong inflows to U.S. spot Bitcoin ETFs. It's been 12 consecutive days of inflows. Not too shabby. This contrasts with outflows from newly-launched Ether ETFs. Bitcoin's dominance in the options market is telling. QCP Capital links this to the "macro-driven nature of the current rate-cut regime". Fancy talk for "Bitcoin might benefit from easier money". So, what's the bottom line? Bitcoin's in for a wild ride.

El Salvador has clinched a $1.6bn deal to revamp its port infrastructure. The investment backs President Nayib Bukele's vision for a Bitcoin City. Turkish-owned Yilport Holdings is footing the bill. They'll modernize two ports: Acajutla and La Unión. It's a record-breaking private investment for the country. Bukele broke the news on social media. He said Yilport would pump over $1.615bn into upgrading the Pacific Port of La Unión and modernizing Acajutla. La Unión's current facilities are a ghost town. Ships rarely dock there due to dated infrastructure. The deal gives Yilport and CEPA, the local port commission, a 50-year lease. It's a long-term play to breathe life into the ports and boost regional logistics. CEPA's president, Federico Anliker, is pumped. "El Salvador is becoming a very important logistics hub in Latin America," he said. He reckons it'll beef up the country's global trade game. The project kicks off late 2024. They're taking it step by step to avoid disrupting operations. This port overhaul ties into a bigger dream: Bitcoin City. Bukele pitched this futuristic metropolis back in 2021. The plan? Zero taxes and Bitcoin mining powered by geothermal energy. The upgraded ports will serve as Bitcoin City's lifeline. They'll handle the logistics and trade needs, aiming to lure more investment. Bitcoin City isn't just about crypto. It's set to be a full-blown urban center with homes, businesses, and leisure spots. Originally, crypto bonds were supposed to fund it. It's a bold move that shows El Salvador's commitment to embracing digital currencies. Crypto buffs are watching closely. They're curious to see if El Salvador can pull off this economic gambit. The $1.6bn project is a big deal for El Salvador. It could turn the country into a regional powerhouse for transit and trade. Plus, teaming up with a Turkish big shot might create jobs and more opportunities. It's a risky bet, no doubt. But if it pays off, El Salvador could be sitting pretty. Only time will tell if Bukele's vision will pan out or if it's just a pipe dream.