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HBO names Peter Todd as Satoshi, but the market does not react

Peter Todd was named Bitcoin founder "Satoshi Nakamoto" in an HBO documentary, but the virtual currency markets did not react, with BTC, ETH, and XRP showing only modest fluctuations. The market's attention shifted to U.S. economic indicators.

HBO Names Peter Todd as Bitcoin Founder, but Virtual Currency Markets Have No Reaction - BTC, ETH, XRP Little Changed

Table of Contents

1. the HBO documentary and the reaction of the virtual currency market

A new HBO documentary named the identity of Bitcoin founder "Satoshi Nakamoto" as Peter Todd, but it had no significant impact on the virtual currency market. Although the documentary garnered attention, the price of bitcoin (BTC) and other major virtual currencies remained largely unchanged, with interest shifting to U.S. economic indicators.

2. bitcoin (BTC) price fluctuations to remain modest

Bitcoin has fallen just 0.41 TP3T in the past 24 hours, while Ether (ETH) is up 0.31 TP3T and other major tokens have remained virtually unchanged. Meanwhile, Sui Network (SUI) tokens fell 71 TP3T after rising more than 201 TP3T in a few weeks.

3. echoes of the HBO documentary "Money Electric: The Bitcoin Mystery

The HBO documentary named Peter Todd as the founder of Bitcoin, a claim he denied in an interview with CoinDesk. The bitcoin community has also largely ignored the documentary, with a particularly chilling response on X (formerly Twitter).

4. the Peter Todd rebuttal and the bitcoin community's response

Peter Todd denies the online evidence presented by HBO and points out that the virtual currency industry has made numerous unsuccessful attempts to identify "Satoshi Nakamoto" in the past. This documentary was just one of those attempts, and it failed to cause any significant market volatility.

5. betting market trends: the identity of Satoshi Nakamoto

The Polymarket has seen an active market for betting on who is Satoshi Nakamoto, with over $44.3 million in transactions. Len Sassaman and Adam Back are the most popular betting targets, even more so than Peter Todd. There is also a market for predicting whether Satoshi Nakamoto's true identity will be proven in 2024, but there has been little fluctuation in this market since the documentary was released.

6. stagnation in the Chinese market and outflow of funds from Bitcoin ETFs

In the Chinese market, stock prices fell sharply after the holiday and large outflows were reported from bitcoin ETFs: $48 million outflows were reported in Fidelity's FBTC and over $8 million outflows were reported in the ETH ETF. The low volatility has been attributed to the lack of stimulus announced by the Chinese government.

7. future focus: US Federal Reserve meeting and market outlook

Traders in the virtual currency market are paying close attention to the upcoming actions of the U.S. Federal Reserve. In particular, economic indicators released by the Fed on Wednesday and Thursday could affect bitcoin price volatility.

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