Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Pavel Durov Breaks Silence: Telegram founder Pavel Durov addressed his arrest in France, expressing surprise and frustration over the legal action.

2. Trump Doubles Down on Bitcoin: In a speech at the Economic Club of New York, former U.S. President Donald Trump vowed to turn the U.S. into the "world capital of crypto and Bitcoin" if re-elected.

3. 📈Technical Analysis Masterclass - Are you trying to trade Bitcoin? There are possible dips around the $52K–$50K range, with a chance of sliding to $47K–$42K. Watch UseTheBitcoin’s latest Youtube video “Expect Crypto Dips Until October – Here’s Why!” to know when the golden cross appears for a hope of a rebound or join our Official Telegram Channel for more alpha!

4. Vitalik Buterin Bullish: Ethereum co-founder Vitalik Buterin expressed cautious support for Google's automatic sign-in feature, suggesting it could help bridge the gap for crypto adoption, albeit with some reservations regarding security risks.

5. 💡Feature of the Day - ZachXBT Calls for L1 Overhaul: Crypto investigator ZachXBT criticized the poor quality of block explorers on many layer-1 (L1) blockchains, calling for significant improvements.

   
   All this and more in today’s headlines!

📰 News Highlights:

Pavel Durov Breaks Silence [Source][Source][Source]

Telegram founder Pavel Durov, who was arrested in France in August, has publicly addressed the situation for the first time. Currently barred from leaving France and required to report to authorities weekly,

Durov expressed surprise at his arrest, citing that Telegram has a legal representative in France to handle regulatory inquiries.

He also pointed out that he has been a frequent visitor to the French Consulate in Dubai and claimed that the authorities could have reached out without involving law enforcement.

Durov asserted that Telegram remains committed to free speech and is prepared to exit jurisdictions hostile to this mission.

French President Emmanuel Macron denied that the arrest was politically motivated, but the international backlash has intensified, particularly from free speech advocates and tech industry leaders.

Trump Doubles Down on Bitcoin [Source][Source]

In a recent speech at the Economic Club of New York, former U.S. President Donald Trump doubled down on his support for cryptocurrency, promising to make the United States the "world capital of crypto and Bitcoin" if reelected.

He also proposed creating a government efficiency commission to audit federal operations and root out fraud. Tesla CEO Elon Musk, a vocal supporter of Trump, was tapped to lead the commission.

He suggested that Musk, who oversees several high-profile companies, would be perfect for the role if he could spare the time.

 📈Technical Analysis Masterclass:

Expect Crypto Dips Until October – Here’s Why!

• Key Level: Bitcoin is nearing the 50-day Moving Average (MA), which could pull the price down to the $52K–$50K range.

• Potential Support: If Bitcoin holds this level, it could act as temporary support before a rebound.

Weak Support and Further Decline Risks

• Weak Support: The $52K–$50K range is a relatively weak support area, increasing the chance of further drops.

• Stronger Support: If Bitcoin fails to hold, it could slide to the $47K–$42K range, where stronger support is expected.

Golden Cross Formation

• Bullish Signal: A golden cross, where the 100-day MA crosses above the 200-day MA, is forming, which often indicates a shift to an uptrend.

• Potential Rebound: After touching the $52K level, a rebound is possible due to this bullish signal.

How to Prepare

• Cash on Hand: Keep cash ready to buy during dips, especially if you're in for the long term.

• November Catalyst: While September and mid-October may see volatility, November could mark the start of an uptrend due to macroeconomic and crypto-specific factors.

Vitalik Buterin Bullish [Source][Source][Source]

Ethereum co-founder Vitalik Buterin recently made waves on social media after discussing his support for Google’s automatic sign-in feature, albeit with reservations.

While initially skeptical of integrating Google’s authentication services into blockchain and cryptocurrency ecosystems, Buterin acknowledged that under-the-hood account abstraction could bridge the gap securely.

However, it was Buterin’s take on historical duels that grabbed more attention. He argued that dueling through markets could provide the risk of personal loss without the violence.

Meanwhile, Elon Musk joined the dueling conversation, sharing his personal collection of historical dueling pistols.

💡 Feature of the Day: 

ZachXBT Calls for L1 Overhaul [Source][Source][Source]

Crypto investigator ZachXBT has voiced strong criticism regarding the quality of block explorers on layer-1 (L1) blockchains, calling for significant improvements.

In a recent post, ZachXBT grouped these explorers into tiers, ranking most outside the Ethereum ecosystem as subpar and in need of a "complete overhaul" to better track on-chain transactions.

Blockchair, Mempool, and WalletExplorer, which track Bitcoin transactions, were praised as “acceptable,” but many L1 chains, such as Cosmos, Hedera, and Aptos, were deemed inadequate.

According to ZachXBT, some block explorers are so ineffective that it stymies meaningful data tracking, with SuiVision coming in for particular criticism for its inability to filter out spam.

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And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com