Bitcoin Core 28.0 Update Goes Live, BTC Price Looking Up?

The Bitcoin developers say the mainnet has received major bug fixes following the release of Bitcoin Core 28.0. The announcement contains notes explaining the various updates meant to enhance security and functionality.

Major Enhancements in Bitcoin Core 28.0

Notably, the BTC ecosystem relies on Bitcoin Core to maintain its decentralization. According to the team, Bitcoin Core 28.0 has been tested on several operating systems. These include the Linux Kernel 3.17+, macOS 11.0+, and Windows 7 and newer.

The development team does not recommend using Bitcoin Core on other unsupported systems. Version 28.0 includes significant changes, including support for Testnet4. The objective is to phase out Testnet3 in future versions.

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However, users can still access this release through the usual option. Additionally, the team tweaked the Windows data directory and moved it from “Roaming” to “Local.” Meanwhile, Bitcoin Core will first confirm the existence of the old directory and utilize it for backward compatibility where present.

This new version sorted the issue of P2P connections binding to Tor connections even when not needed. In previous versions, Bitcoin Core had no option to switch off Tor nodes if not needed. With this, an “option” to switch off is now available.

Also, Bitcoin Core will not start up if its P2P binds fail. Previously, it only aborts startup if all P2P binds failed. Overall, Bitcoin Core permits up to 125 peer connections with 11 outbound connections by default. This guarantees user integration within the Bitcoin ecosystem and supports its decentralized structure.

Bitcoin Price Struggles Amid Geopolitical Tensions

The release of Bitcoin Core Version 28.0 comes as the asset battles with market volatility and selling pressure. While investors had anticipated a bullish performance at the start of October, geopolitical tensions in the Middle East dashed expectations of a price rally.

The world’s leading digital asset recorded a notable price surge during the last days of September. However, the gains quickly disappeared as Iranian missiles hit targets in Israel. This stunt caused a price crash from approximately $65,000 to around $60,000.

This wiped out the projections of an “Uptober” rally and the expected effect of the Federal Reserve interest rate cut. Additionally, Bitcoin trades suffered massive liquidation overall.

According to current market data, Bitcoin price has recorded a 0.63% uptick and is currently trading at $62,297. This new shift signal restored investors’ confidence in the market.

Optimism for a Future Bitcoin Price Rally

Although the price rebound is below anticipated projections, Analysts remain optimistic about a rally. They insist that the Uptober rally is yet to come as institutional interests have picked up again after continuous outflows.

Data from Farside Investors shows that Bitcoin ETFs recorded a net inflow of $25.6 million on Friday. While inflows were low or zero, only Grayscale (GBTC) suffered an outflow of $13.9 million.

Some market watchers also anticipate Wall Street adoption following the recent move by Bitwise asset managers. They predict that the firm’s new strategy of rotating between crypto and U.S. Treasury exposure will attract more investors. The strategy serves as “plan B” for those averse to the high volatility of the crypto space.