Из жизни альткоинов

Политическая повестка продолжает играть важную роль в цене криптовалют. Резкий шаг американского президента против китайской торговли помог вызвать обвал крипторынка. Были ли другие причины? И что будет с рынком дальше?

Binance has announced its plans to compensate some users who lost funds during the market-wide crash on Friday, October 10. The world’s largest cryptocurrency exchange by trading volume acknowledged a price depeg incident, which led to forced liquidations for some traders.

Affected Users To Receive Compensation In 3 Days: Binance

In an October 11 post on the X platform, Binance co-founder and chief customer support officer Yi He confirmed that some users encountered issues with their transactions due to significant market fluctuations. While apologizing to customers, the exchange executive asked the affected customers to reach out to the customer service to lodge their complaints.

After Friday’s market bloodbath, some users took to the X platform to complain about the forced closure of their trade positions on the Binance exchange. According to the cryptocurrency exchange’s explanation, these issues were caused by a price depeg involving Ethena’s USDe, BNSOL, and WBETH, as the market fluctuated and users flooded the trading platform.

Binance’s He noted that account activity of each user will be reviewed individually before the compensation will be released accordingly. However, it was also stated that losses due to market fluctuations and unrealized profits are not eligible for compensation.

He wrote on X:

The reason Binance is Binance is that we never shy away from problems. When we fall short, we take responsibility—there are no excuses or justifications. We are committed to serving every user to the best of our ability, and we will manage what we are responsible for.

Binance announced on its website that the affected users will receive their compensation within 72 hours. This reimbursement will reportedly cover the difference between the liquidation price and market price at midnight on October 11.

Trump Slaps China With 100% Tariff, Crypto Market Crashes

As already mentioned, the Binance issue came up due to severe fluctuations in the cryptocurrency market. This increased volatility came after United States President Donald Trump declared plans to impose 100% tariffs on all Chinese goods by November 1.

As a result of this decision, Bitcoin, the largest cryptocurrency by market cap, witnessed a swift crash to around $101,500. Meanwhile, the crypto market recorded nearly $20 billion in long liquidations—the largest single-day liquidation event in history—following the declaration.

As of this writing, the price of Bitcoin is hovering around the $111,000 mark, reflecting an almost 10% decline in the past seven days.

Featured image from Unsplash, chart from TradingView

Динамика курса первой криптовалюты, как и всего крипторынка, в ближайшее время будет определяться переговорами США и КНР по поводу торговых пошлин, предположили аналитики платформы Santiment. По их мнению, есть вероятность падения цены биткоина ниже $100 000.

Автор книги о личных финансах «Богатый папа, бедный папа», предприниматель и инвестор Роберт Кийосаки (Robert Kiyosaki) назвал эфир самым выгодным активом для инвестирования прямо сейчас — не считая серебра.

The October 10 tariff announcement by US President Donald Trump sent shockwaves across the cryptocurrency market, as Bitcoin (BTC) prices crashed to around $102,000 for the first time since August. Recording about $800 billion in market value loss and a $19.2 billion in positions erased, the recent crash holds the record as one of the largest liquidations the market has ever seen. 

However, as the market seems to have found some stability around the $111,000 price zone, recent on-chain data has surfaced that paints a pessimistic picture concerning the asset’s short-term future.

Analyst Says Market Reset Not Yet Complete

In a QuickTake post on the CryptoQuant platform, a crypto education institution by the name XWIN Research Japan put forth reasons to believe the Bitcoin market is yet to see a local bottom.

XWIN Research started with an interesting comparison with previous years, where BTC experienced a psychological reset. According to these market experts, the difference between Bitcoin’s past resets and this current market crash is made apparent upon study of the Bitcoin Net Unrealized Profit/Loss (NUPL) metric.

 

For context, the Bitcoin NUPL metric tracks the overall profitability of BTC holders. It does so by calculating the difference between unrealized profits and losses. As of March 2020, when Bitcoin hit major lows, the NUPL levels fell below zero; the same can be observed in November 2022. 

During these periods, it is clear that investors were holding BTC at net losses. Interestingly, these periods of market capitulation marked the beginnings of strong bull cycles that followed months of hopelessness. What’s notable about the current crash is that Bitcoin’s NUPL still stands at levels close to 0.5, showing that a significant amount of its holders are still in profit.

BTC Calm May Point To Imminent Storm

To shed light on the background mechanics behind Bitcoin’s slowed momentum, XWIN Research used results from the Bitcoin Long Liquidations metric, which functions to measure the total value of leveraged long positions forcibly closed due to wipeouts.

As would be expected, the long positions with too much leverage were wiped out in the previous market dump, but that’s not the only occurrence that took place. According to the crypto research institution, the Open Interest also declined alongside BTC’s price, helping to normalize derivatives metrics.

 

During the 2018-2019 and the 2022 market crashes, the initial dumps cleared leverage, but the real market bottoms came months after the leverage wipeouts in the market, during periods where panic and loss were dominant. Based on this historical data, the current setup seems to suggest that the market is at a pre-capitulation phase, with its stability being too fragile to be relied upon.

As it stands, the sentiment among investors remains intact. However, if the market should become more fearful, and the cryptocurrency’s NUPL falls to levels close to zero, we could see the start of a new and sustainable rally. 

At press time, Bitcoin is valued at about $111,110, reflecting no significant 24-hour growth.

Основатель консалтинговой компании MN Consultancy Михаэль ван де Поппе (Michaël van de Poppe) назвал произошедший обвал крипторынка неизбежной частью цикла Биткоина и призвал инвесторов не поддаваться панике.

Kriptovalūtu tirgus piedzīvoja strauju kritumu pēc tam, kad jaunie ASV tarifu pasākumi pret Ķīnu satricināja riska aktīvus. Bitcoin dienas laikā piedzīvoja strauju kritumu, un Ethereum sekoja tam, kriptovalūtu tirgus vērtība samazinājās par miljardiem, jo pieauga svārstīgums. Ziņas saista šo kustību ar pārsteidzošo 100 % tarifu paziņojumu, kas vērsts pret Ķīnas tehnoloģijām un jaunajiem eksporta kontroles pasākumiem — eskalāciju, kas satricināja ne tikai digitālos aktīvus, bet arī plašākus tirgus.

Šādas lejupslīdes bieži rada iespēju pārskatīt pozīcijas. Tā kā galvenie tirgus dalībnieki ir zem spiediena un noskaņojums ir pasliktinājies, daži investori pāriet uz ļoti pārliecinošiem iepriekšpārdošanas darījumiem, kas vēl nav kotēti — īpaši uz projektiem, kas saistīti ar Bitcoin izaugsmi. Tieši šeit Bitcoin Hyper ir piesaistījis uzmanību: tā iepriekšpārdošanas apjoms tikko pārsniedza 23 miljonus dolāru, un cenas joprojām atrodas iepriekšpārdošanas teritorijā.

Pārdošana: kas patiesībā notika

Vairāki mediji ziņoja par strauju tirgus reakciju pēc tam, kad Baltais nams paziņoja par straujiem tarifiem un stingrākiem programmatūras eksporta kontroles pasākumiem, kas vērsti pret Ķīnu. BTC kritās aptuveni par 8 % zemākajā punktā, bet ETH kritās līdz ar to, ka pasliktinājās globālā riska noskaņojums. Šoks skāra arī tradicionālos tirgus, uzsverot, ka tas bija makroekonomisks notikums, nevis kriptovalūtu specifiska kļūda.

Papildus spot cenām, atvasinājumu spriedze pastiprināja kritumu: izsekošanas sistēmas reģistrēja 7,5–19 miljardu dolāru likvidācijas dažu stundu laikā, kad finansējums mainījās un kredītpleca efekts izlīdzinājās, bet ”Fear & Greed Index” vienā dienā nokritās no Greed (64) līdz Fear (31).

Galvenie notikumi saistīja šo kustību ar ASV 100 % tarifu šoku Ķīnai un jauniem eksporta kontroles pasākumiem; Pekinas reakcija un nepārtraukta retorika padāva augstu svārstīgumu visos riska aktīvos, ne tikai kriptovalūtās. Sagaidāms, ka galveno notikumu risks paliks augsts, līdz politikas skaidrība uzlabosies.

Kāpēc tas var būt priekšnoteikums atlasītiem iepriekšpārdošanas darījumiem

Kritumi ātri maina cenu prognozes: aizņemto līdzekļu izsmelšana, vājo roku iziešana un augsta beta “altcoins” var pārsniegt lejupslīdes robežu. Šajā situācijā iepriekšpārdošanas iespējas dažkārt izskatās salīdzinoši pievilcīgas, jo to tokenu cenas vēl nav sākušas svārstīties biržās. Vēsturiski, kad makroekonomiskās bailes kļūst mazākas, kapitāls meklē stāstus ar skaidru lietderību un tuvumu Bitcoin — mērogu, maksājumus vai infrastruktūru, kas gūst labumu, kad BTC aktivitāte atgūstas.

Divi faktori atbalsta “pirk kvalitatīvu ICO, kad valda bailes” stratēģiju: pirmkārt, makroekonomika — tirgi joprojām neņem vērā 29. oktobra Federālās rezervju sistēmas lēmumu samazināt procentu likmes, kas vēsturiski atvieglo finanšu nosacījumus riska aktīviem; otrkārt, plūsmas — neskatoties uz nestabilitāti, spot BTC ETF nesen ir reģistrējuši ievērojamu neto plūsmu, kas liecina par strukturālu pieprasījumu, kas var atjaunot likviditāti, kad panika samazināsies. Šajā periodā labākās kriptovalūtu iepriekšpārdošanas ar Bitcoin līdzīgu lietderību un skaidriem plāniem bieži vien visātrāk atgūst vērtību.

Bitcoin Hyper: kāpēc pircēji tagad skatās šajā virzienā

Bitcoin Hyper ($HYPER) ir Bitcoin Layer-2 koncepcija, kuras mērķis ir apvienot Bitcoin drošību ar Solana stila ātrumu, izmantojot Solana Virtual Machine (SVM) kā izpildes slāni, vienlaikus nostiprinot norēķinus atpakaļ uz Bitcoin ar kanonisko tiltu. Ideja: bloķēt BTC uz L1, izveidot 1:1 prasību uz L2 gandrīz tūlītējai, zemas komisijas maksas izmantošanai (maksājumi, DeFi, aplikācijas), tad izņemt atpakaļ uz vietējo BTC. Mediju atspoguļojums visā 2025. gadā ir izcēlis šo piedāvājumu, jo BTC cena un izmantošanas tendence ir augstāka.

Jauns finansējuma pagrieziena punkts: Saskaņā ar nesenajiem iepriekšpārdošanas ziņojumiem, Bitcoin Hyper ir sasniedzis aptuveni 23 miljonus dolāru, ar pašreizējo iepriekšpārdošanas cenu apmēram ~0,013065 dolāri. Tas to ierindo starp šī gada lielākajiem pieaugumiem un liecina par nepārtrauktu interesi pat tirgus svārstību laikā.

Kāpēc tas atbilst šodienas situācijai: Ja BTC stabilizējas pēc tarifu šoka, cikli parasti atkal koncentrējas uz caurlaidspēju un komisijas maksām — kā izmantot Bitcoin vairāk, ātrāk un lētāk.

Pircēju ceļvedis norāda, ka jūs varat nopirkt Bitcoin Hyper, izmantojot Ethereum (ETH), Tether (USDT), Binance Coin (BNB) vai bankas karti, izmantojot projekta oficiālo logrīku. Tāpat kā jebkurā iepriekšpārdošanā, veiciet standarta pārbaudes (oficiālās saites, līguma adreses, iegūšanas tiesības) un izvēlieties pozīcijas apjomu piesardzīgi, ņemot vērā paaugstināto makroekonomisko risku.

Обвал биткоин-рынка был спровоцирован целым рядом факторов, а не только заявлением президента США Дональда Трампа о пошлинах в 100% на товары из Китая, считают аналитики инвестиционной компании The Kobeissi Letter.

Стоимость Атаки 51% на Биткоин составляет не более $6 млрд, менее четверти процента от рыночной капитализации первой криптовалюты ($2,2 трлн), заявил профессор финансов Дюкского университета в Северной Каролине Кэмпбелл Харви (Campbell Harvey).

Indian authorities are now reportedly set to investigate 400 Binance traders on the grounds of crypto tax evasion. This development comes following Binance’s reentry into the Asian market, during which it registered itself as a “reporting entity”.

Related Reading: CZ’s Comeback? Trump Weighs Presidential Pardon For Binance Founder India Tax Dep’t Targets Evasion Among Wealthy Binance Traders

According to a recent report by local media, The Economic Times, the Income Tax Department under the Central Board of Direct Taxes (CBDT) in India has been ordered to probe 400 high-net-worth individuals for hiding their crypto trades on the Binance exchange. 

These traders are suspected of evading taxes on their crypto profits between 2022-23 and 2024-25, while also refusing to reveal their investments in various exchange wallets outside the country.  In India, there is a 1% tax on every crypto sale, followed by a total tax ranging from 33% to 38% on every profit, along with 4% fees that could push the effective tax rate to around 42.7%.  

Wealthy traders in India had long relied on foreign exchanges such as Binance to evade the country’s strict crypto tax regime, a strategy that has now backfired amid recent enforcement actions. According to The Economic Times, many of these transactions were facilitated through the transfer of USDT, a stablecoin, to Binance accounts, or via traditional banking channels under the Reserve Bank of India’s Liberalized Remittance Scheme.

Binance was banned in India in 2023 after the country’s Financial Intelligence Unit (FIU) reported that the exchange had failed to comply with anti-money laundering (AML) regulations. However, in August 2024, Binance resolved the issue by meeting all regulatory requirements, paying a $2 million fine, and registering as a reporting entity with the FIU. This arrangement enabled the exchange to share user information with Indian authorities, a move that has now paved the way for the ongoing tax probe.

In addition to evaluating trade profits, the ITD would also be evaluating the peer-to-peer trading activity on the Binance exchange. According to data from Statista, the crypto market in India remains vibrant with projections to reach a revenue size of $9.7 billion in 2025. 

While the Asian nation may be crypto-friendly in that digital assets are recognized investments, there is also much regulatory caution in view of protecting consumers’ interests. For example, the Bombay Stock Exchange recently rejected a company’s public listing due to crypto investment intentions using raised capital.

Crypto Market Overview

At the time of writing, the total crypto market cap is valued at $3.68 trillion, representing a slight 1.67% recovery in the last day. Meanwhile, total daily trading volume is up by 32.40% and valued at $400.72 billion. 

Solana’s momentum is shifting into overdrive. As the network continues to attract the brightest minds in crypto, Umbra and Arcium have emerged as two of its strongest catalysts. Both projects have captured the essence of SOL’s revival execution at scale.

How Two Projects Are Redefining Solana Core

The Solana ecosystem just witnessed history in motion. In an x post, the founder of Sensei Holdings and Namaste Group, Solana Sensei, gave a massive shoutout to Umbra and Arcium, calling them legends for making history on SOL. It’s a moment that captures the pulse of the ecosystem as builders are winning.

Umbra is one of the largest launches in SOL’s history, and it’s all centered around built-in privacy, a native feature the SOL network truly needs. The project raised an astonishing $155 million in its public sale, with more than 200x oversubscription. Those numbers reflect trust in a team and a vision that is deeply aligned with SOL’s next chapter.

However, Umbra is a privacy protocol built natively for SOL, designed to bring confidentiality, composability, and compliance-ready infrastructure into the SOL ecosystem, which is known for speed and scale. Sensei mentioned that he is not surprised by the success, considering the talent and vision behind the teams are Umbra, Arcium, and the MetaDAO, a collective of builders shaping the next frontier of decentralized infrastructure.

A prominent crypto analyst and market commentator, Tom Tucker, has highlighted a growing trend that signals rising institutional conviction in Solana, as big players are loading up on SOL. Companies such as Forward Industries and DeFi Development Corp are now actively building SOL treasuries, together holding over 2.4% of the total supply, worth an estimated $3 billion.

This kind of accumulation is about commitment. By locking up billions in SOL, these companies are signaling confidence in SOL’s long-term future.

SOL Prepares For Its Next Big Move

MANDO CT, a recognized figure in the crypto community, has pointed out that the Solana range breakout is loading. For months, SOL has been quietly building a base between $160 support and range resistance, setting the stage for a major range breakout. Every dip has been absorbed, which is a classic accumulation pattern.

Currently, the range is tightening, as price is pressing against the ceiling, and volume is starting to expand, signaling that energy is building for a potential breakout. With liquidity just above, a clean breakout here might set off a powerful continuation wave.

Also, MANDO noted that he was buying 20,000 SOL at $11, when smart money was accumulating while most looked away. If SOL clears this range with conviction, and $250+ comes into play fast, retail will buy the setup.

US President Donald Trump is reportedly considering a pardon for Binance co-founder and former CEO Changpeng Zhao, commonly known as CZ. This development comes amid heavy liquidations in the crypto market after the Republican president also announced plans for a 100% tariff on Chinese goods.

Could CZ Be Heading Back To Binance? 

In a report on October 10, Fox Business reporter Charles Gasparino shared an inside scoop stating that discussions in the White House had commenced over a potential presidential pardon for Binance’s former boss, CZ. The analyst explains that this motion appeared to have sprung out of a partial belief in Trump’s camp that the fraud case against the Chinese-born Canadian was “weak” and that his felony conviction and prison sentence were disproportionate. In 2023, US authorities charged Changpeng Zhao and Binance with violating the Bank Secrecy Act and failing to maintain adequate anti–money laundering (AML) controls. According to the US Department of Justice, Binance allowed illicit funds to move through its platform, including transactions linked to sanctioned countries and criminal enterprises such as the Lazarus group of North Korea.

CZ personally pleaded guilty to one count of failing to maintain an effective AML program, admitting that he did not implement sufficient safeguards to prevent Binance from being used for unlawful purposes. The plea deal was part of a broader settlement in which Binance agreed to pay over $4.3 billion in penalties,  one of the largest corporate fines in US history.

As part of the agreement, CZ also stepped down as Binance CEO and was sentenced to four months in federal prison in April 2024. Following his conviction, Zhao temporarily relinquished direct control of Binance but continues to retain his ownership stake. A potential presidential pardon could effectively erase CZ’s conviction and restore his legal standing. However, likely, the former Binance boss remains away from the formal leadership of the exchange due to Binance’s agreement with the DOJ under the oversight of a multi-year independent compliance monitor.

Presidential Pardon Still Some Time Away

Amid the positive news for Zhao, Gasparino has also noted that the presidential pardon may take some time as the US government is facing critical issues, including managing the conflict in the Gaza Strip and Ukraine, while also teasing another tariff battle with China.

Notably, Trump has now threatened to impose a 100% tariff on all Chinese goods after the Asian nation announced plans to implement sweeping export controls on almost every product starting from November 1, 2025. In response, the general crypto market is down by 9.63% and is presently valued at around $3.72 trillion. Within this time, Bitcoin, the market leader, has declined by 7.81 with prices now set around $111,900. 

A large stablecoin theft hit the crypto space on Oct 10, 2025, when an attacker drained a single user wallet and moved the proceeds onto Ethereum. Based on reports, the loss is about $21 million. The event has drawn fresh attention to how one leaked secret can wipe out millions.

Stablecoin: Key Details Of The Theft

According to chain trackers and security feeds, the affected address shown on explorers as 0x0cdC…E955 lost roughly $21 million in stablecoins. Reports place about 17.75 million DAI among the stolen assets and about 3.11 million of a second stable token that some trackers list as MSYRUPUSDP.

Security firms including PeckShield flagged the incident as a private key leak, meaning the attacker gained direct control of the wallet’s signing key and moved funds without breaking a platform’s code.

#PeckShieldAlert A victim 0x0cdC…E955 lost ~$21M worth of cryptos on #Hyperliquid due to a private key leak.

The hacker has bridged the stolen funds to #Ethereum, including 17.75M $DAI & 3.11M $MSYRUPUSDP. pic.twitter.com/yZUMM6xL5f

— PeckShieldAlert (@PeckShieldAlert) October 10, 2025

How The Attack Appears To Have Happened

Based on reports, this was not a smart-contract flaw or a bridge bug. The stablecoin wallet’s secret key was exposed or taken. Once that happened, transfers could be signed and broadcast instantly.

Some of the moves were rapid. Large sum transfers were routed through one or more cross-chain bridges before arriving on Ethereum, where funds were shifted across multiple addresses. That routing made tracing harder, but chain monitors followed many of the hops.

Where The Money Traveled

Tracing shows the stolen stablecoins crossed chains and then were shuffled on Ethereum. Observers noted that token labels in explorers did not always match contract names, which can confuse quick summaries.

Using contract addresses is the only precise way to follow funds on chain. Reports say the thief used bridges to obscure origin and then moved assets between a number of addresses, a step which complicates recovery efforts if the funds are not deposited to a centralized service.

Gaps In The Public Record

Reports have disclosed that several outlets republished the same initial feed from chain-security groups, and no public identity for the actor has emerged. Numbers vary slightly across trackers, which is common when tokens are wrapped, rebranded, or shown differently by different explorers.

Security analysts point to broader figures showing over $1 billion in losses tied to private-key and credential-based incidents in recent years, underlining how common and costly these events remain.

Featured image from Bleeping Computer, chart from TradingView

The Bitcoin market has experienced a significant price correction in the last few hours,  with prices dropping to around $110,000 as the trade war between the US and China may yet recommence. Before this decline, the crypto market leader led a strong rally to set a new all-time high of $126,198.17 on October 6, 2025. Interestingly, recent data on the Bitcoin Options market indicated a wave of cautious positioning among institutional investors amid this price surge ahead of the current market downturn.

Institutions Step Back As Bitcoin’s Rally Turns Euphoric – Glassnode

In an X post on October 10, blockchain analytics firm Glassnode lays out some interesting insights in its weekly options market update. Notably, Glassnode analysts report that while Bitcoin prices surged more than 10% in the recent ascent to a new all-time high, institutional traders appear to have maintained a calm market approach, opting to lock in profits and protect downside rather than chase the rally. Despite the steep move higher, implied volatility, i.e., a gauge of expected price swings, barely budged, hovering around 38–40%. Normally, a rally of that size would push volatility higher as traders hurriedly call and amplify their exposure. However, the silent reaction suggests composure from institutional investors who were already positioned for the move or simply unwilling to pay up for additional upside.

Glassnode analysts also draw attention to another subtle but telling sign in option skew. Even at the height of the rally, demand for put options remained strong, keeping the market elevated. This indicates that many large players were selling calls, effectively capping potential upside, through the options market, while maintaining insurance in case the market reversed. In addition, the put-call ratio also reinforces this cautious pattern among institutions. Amidst the option expiry on Friday, October 9, the ratio climbed above 1.0, indicating more puts traded than calls as traders were busy hedging positions ahead of the current downturn rather than chasing momentum and locking in recent gains. Generally, Glassnode describes the Bitcoin market as having adopted a different behavior this cycle, driven by institutional discipline rather than surging volatility and retail exuberance as seen in previous cycles. The dominance of institutional funding driven by spot ETFs and the recent advent of crypto treasury companies may have added a thick layer of maturity to the $2 trillion market.

BTC Market Overview

At the time of writing, Bitcoin is trading at $110,805 after a 7.54% decline in the past 24 hours. Meanwhile, daily trading volume has surged 150.37%, indicating a rise in market activity as traders react to the sharp pullback.

Deutsche Bank analysts have highlighted parallels between gold and Bitcoin, as both assets continue to outperform this year. Other analysts have also made bullish predictions for BTC, noting that the flagship crypto appears to be mirroring the precious metal’s price action as investors jump on the ‘debasement trade.’

Deutsche Bank Draws Parallels Between Gold And Bitcoin

A Deutsche Bank report highlighted how the bank’s analysts argue that the same behavior that central banks exhibited towards gold during the 20th century has similar parallels to the way Bitcoin is now viewed. The analysts also noted that BTC is seeing record-breaking performance this year, just as gold, which topped $4,000 an ounce for the first time this month. 

Furthermore, Deutsche Bank analysts stated that Bitcoin is increasingly being discussed among policymakers as a reserve asset, alongside gold. Interestingly, the bank has predicted that central banks could accumulate BTC as a reserve asset alongside gold by 2030. The analysts noted how BTC has similar characteristics to gold, with it being viewed as a hedge against macro uncertainty. 

This has earned Bitcoin the tag ‘Digital gold,’ while investors continue to pile into BTC as an alternative to gold as part of the ‘debasement trade.’ This trade has become more heightened thanks to the ongoing U.S. government shutdown, which has further sparked macro uncertainty. Analyst Holger Zschaepitz noted that BTC is following its analogue counterpart, having recently hit a new high above $125,000. 

He added that this was a milestone in the ongoing debasement trade, as investors seek protection from currency devaluation. Meanwhile, crypto analyst Merlijn stated that BTC moves when gold leads and that in every previous macro breakout, Bitcoin has followed with parabolic force. In line with this, the analyst predicted that the flagship crypto could rally to $160,000 next if the pattern repeats. This aligns with JPMorgan’s analysis, which finds that BTC remains undervalued relative to gold and could rally to $165,000 by year-end. 

BTC Could Reach $644,000 Based on Gold Correlation

VanEck’s Head of Digital Assets Research, Matthew Sigel, stated that Bitcoin could reach half of gold’s market cap after the next halving in 2028. At the current gold price, he noted that this implies that the flagship crypto could rally to as high $644,000.  Gold currently has a market cap of $27 trillion, while BTC’s market cap stands at just $2.2 trillion. 

Sigel explained that roughly half of gold’s value stems from its use as a store of value rather than from industrial or jewelry demand. He added that surveys show younger consumers in emerging markets increasingly prefer Bitcoin as a store of value over gold. SkyBridge CEO Anthony Scaramucci echoed a similar sentiment, stating that as younger people age into senior positions, there will be a major shift in allocation from gold to BTC. 

At the time of writing, the Bitcoin price is trading at around $112,500, down in the last 24 hours, according to data from CoinMarketCap.

Solana has displayed an impressive performance in the crypto market over the past three months, with its price seeing a sharp growth from around $160 to as high as $230. However, recent on-chain data shows a less optimistic picture underneath the surface.

Solana Network Activity On The Decline

In a Quicktake post on the CryptoQuant platform, pseudonymous analyst CryptoOnchain revealed that there has been an increasing negative divergence between Solana’s price and the number of active addresses working with its network.

The online pundit’s report was based on the Solana Daily Active Addresses Vs Sol Price metric. This metric tracks the relationship between Solana’s market price and the number of unique addresses actively interacting with its network over the past 90 days. 

CryptoOnchain pointed out that as Solana began its rally around July from about $160 to $230, its network activity saw a stark opposite. 

In the chart shared by the on-chain analyst, we see a significant decline in the 7-Day Moving Average (MA) of active addresses. From the beginning of the third quarter, the 7-Day MA dropped from as high as 3.4 million to roughly 2.2 million addresses to end the period.

Adding an important caveat, the crypto analyst mentioned that the evaluation thrived on counting active addresses using the “Signer Method.” This method is important because “only unique addresses that have signed and sent successful transactions (success = true) are included,” thus providing analysts with a precise measure of users actively interacting with the network.

What’s Next For Solana?

CryptoOnchain further explained that the growing negative divergence currently occurring in the Solana market points to something interesting within the blockchain. 

As of recent times, Solana’s price rally seems to be less driven by network adoption and user base activity, and rather by speculative activities, large-volume transactions by whales, or other market factors.

Looking at the bigger picture, it is evident that Solana’s — and any blockchain’s — health depends on consistent network activity. A network of active participants would witness healthy transaction demand, which could further contribute to the growth of the concerned cryptocurrency. 

For now, the SOL price still maintains a healthy bullish structure as it looks to resume its run to the upside. If user activity, however, continues to weaken as its price momentum persists, the market could struggle to keep up once all speculation driving its current growth fades.

As of this writing, Solana is valued at about $186, reflecting an over 15% decline in the past 24 hours. This deep correction comes on the back of the United States President Donald Trump’s declaration of a 100% tariff on Chinese goods.

The Bitcoin price and the entire crypto market suffered one of the biggest crashes in history again in 2025. The premier cryptocurrency, which had been struggling all day on Friday, October 10, eventually succumbed to bearish pressure after United States President Donald Trump announced 100% tariffs on Chinese imports.

The rest of the cryptocurrency market also faced significant downward pressure, with the prices of other large-cap assets nosediving following the US tariff news. According to data from CoinGlass, nearly $10 billion worth of open interest was erased from the crypto market in the largest single-day liquidation event in history.

Trump Imposes 100% Tariff On Chinese Goods

In an October 10 post on the Truth Social platform, Trump declared a 100% trade tariff on Chinese goods, over and above any tariff that they are currently paying. Trump said the tariffs were in response to China’s attempt to place export restrictions on rare earth minerals, which are crucial for creating computer chips.

Trump said:

It has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1, 2025, impose large-scale Export Controls on virtually every product they make, and some not even made by them.

Trump claims that China’s decision to impose these export controls affects all countries and was a plan devised by them years ago. The US will impose Export Controls on any and all critical software on November 1, or sooner, depending on further actions by China, the President wrote on Truth Social.

According to recent reports, Trump later said that he is still open to meeting with Xi Jinping, President of the People’s Republic of China. The US President said he could lift the trade tariff if China walks back on its decision before November 1. 

Trump first announced the imposition of trade tariffs on countries, specifically China, in April 2025, sending shockwaves through cryptocurrency and equities markets. This decision was followed by the downturn of the price of Bitcoin to around $77,000.

Bitcoin Price At A Glance

As of this writing, the price of Bitcoin stands at around $112,581, reflecting a 7.6% decline in the past 24 hours. According to data from CoinGecko, the flagship cryptocurrency is down by over 8% in the last seven days.

Japanese investment company Metaplanet today announced that it is temporarily pausing its stock acquisition rights. According to data from Coingecko, the firm currently holds 30,823 BTC on its balance sheet.

Metaplanet Pauses Stock Sale, Committed To Buying Bitcoin

According to an announcement made earlier today, one of the major Bitcoin treasury firms, Metaplanet, is poised to suspend the exercise of its 20th to 22nd series of stock acquisition rights. These rights, also known as Moving Strike Warrants, will be in suspension from October 20th to November 17th.

For the uninitiated, Moving Strike Warrants are financial instruments that give investors the right, but not the obligation, to buy or sell a company’s stock at a strike price that adjusts over time, usually based on the stock’s market price or other metrics. 

Today’s announcement means that Metaplanet is essentially temporarily halting the sale of common stock to fund additional BTC purchases. Seeing the company’s stock’s recent performance, this should hardly come as a surprise.

Metaplanet’s shares have collapsed a massive 70% from their June highs. The following chart shows how Metaplanet’s stock is down more than 22% over the past month, trading at $550 at the time of writing.

Besides the depressed price action, Metaplanet’s valuation now stands at 1.05x Net Asset Value (NAV), the lowest reading since the firm launched its Bitcoin treasury strategy. Metaplanet’s total share value is now just slightly above the total value of BTC it holds.

The decision to temporarily halt additional share sale is likely taken to avoid further dilution of shareholders’ value. The seemingly incongruent behavior between rising BTC price and falling Metaplanet stock is not out of the ordinary.

For instance, Michael Saylor-led Strategy – despite being the largest public company in terms of BTC held on its balance sheet – has had to struggle over the past few months. MSTR shares have tumbled over 4.5% over the past month.

That said, Metaplanet reiterated that it remains committed to buying more BTC in the future. In its official announcement, the company said:

We remain committed to our mission of expanding Bitcoin holdings and maximizing BTC Yield for the benefit of our shareholders. In support of this mission, we are also developing new financial instruments and advancing the sophistication of our capital policy.

Crypto Adoption Continues To Grow

While Metaplanet temporarily halting stock sales might spook some BTC bulls, the overall trend of corporate adoption of cryptocurrencies continues to grow. For example, NYSE-listed CleanCore recently revealed that its treasury now holds 710 million DOGE.

Similarly, MARA Holding recently increased its corporate treasury by 373 BTC, surpassing $6 billion in holdings. Nation-states appear to be joining the bandwagon too, as Luxembourg stated that its sovereign wealth fund is set to invest in Bitcoin exchange-traded funds (ETFs).

That said, some industry experts argue that the recent surge in corporate adoption of digital assets is not entirely organic. At press time, BTC trades at $117,672, down 2.7% in the past 24 hours.

Brian Armstrong, CEO of Coinbase, has criticized Senate Democrats’ controversial proposal to regulate the DeFi sector, which has reportedly stalled bipartisan talks on the long-awaited crypto market structure legislation.

Coinbase CEO Slams Democrats’ Proposal

In a Friday X post, Coinbase’s CEO warned that the crypto industry “absolutely won’t accept” the Senate Democrats’ proposal on DeFi regulation as it “would set innovation back, and prevent the US from becoming the crypto capital of the world.”

For context, crypto journalist Eleanor Terret reported that Senate Democrats and Republicans were allegedly quarreling behind the scenes over a leaked proposal to regulate DeFi platforms in the upper chamber’s version of the crypto market structure bill, the Responsible Financial Innovation Act (RFIA).

The six-page document, named “Preventing illicit finance and regulatory arbitrage through decentralized finance platforms,” proposed establishing a “clear” regulatory framework for DeFi platforms by “defining accountability, clarifying oversight, and preventing the misuse of decentralized protocols for illicit finance, sanctions evasion, or to bypass market guardrails.”

Jake Chervinsky, Variant CLO, called Democrats’ proposal “deeply unserious,” affirming that the drafted suggestions are “basically a crypto ban,” with many “fundamentally broken and unworkable” aspects.

The lawyer argued that the changes to RIFA’s draft text would effectively kill the bill, as it would make everyone in crypto an intermediary, force front-end providers to apply Know Your Customer (KYC) rules to their users, and give agencies “unchecked power for selective regulation.”

“It lets Treasury regulate anyone with ‘sufficient influence’ in a DeFi protocol and also lets Treasury define ‘sufficient influence’ however it pleases,” Chervinsky explained. “It creates a ‘restricted list’ for protocols and front-ends that Treasury thinks are too risky, and then makes it a crime for anyone to use them. There is no limiting principle, defense, or recourse. Treasury is all-powerful.”

“The RFIA draft got a few key things right,” he stated, a sentiment shared by other industry leaders like Uniswap’s CEO, Hayden Adams. Variant’s CLO highlights that the Senate Banking Committee’s draft protects software developers from unjust regulation and criminal prosecution, “preventing future administrations from returning to the era of Gary Gensler. Without this, there is no bill.”

Crypto Market Structure Bill At Risk?

Coinbase CEO affirmed that legislation is a process and pledged to continue fighting for the rights of investors and developers and to “preserve economic freedom.” He also added that Coinbase leadership is “committed to engaging and helping Congress get it right.”

Amid the backlash, some have debated whether the market structure bill can arrive at President Donald Trump’s desk before the end of the year. Eleanor Terret reported for Crypto In America that Senate Republicans are “frustrated” that Democrats have allegedly offered “little substantive feedback” on the two published discussion drafts on the legislation and have been reluctant to set an official date for the legislation’s markup session.

A Senate Banking Committee Communications Director, Jeff Naft, said that “What was sent to Republicans was not a legislative offer; the document was not written in legislative text, included multiple incoherent policy ideas, and was not a good-faith effort to engage on market structure.” As a result, negotiations have reportedly stalled.

However, anonymous sources told Terret that the leaked proposal was “meant as a starting point for discussions, not a final position,” and Democrats are seemingly frustrated that the document was made public.

Jacques Petit, Director of Communications for Senator Ruben Gallego, stated that “Their demand to set a markup date before text is agreed to is like setting a wedding date before the first date. It’s nonsensical.”

Terret noted that the longer this incident drags on, the more likely the crypto legislation won’t arrive at the President’s desk this year. If it spills over to 2026, it risks losing momentum, as Congress shifts its main focus from digital assets regulation to the midterm elections.

Morgan Stanley, one of the largest investment firms in the US, announced on Friday that it will broaden access to crypto investments for all clients, including those with retirement accounts. 

This shift, reported by CNBC, allows financial advisors to present cryptocurrency funds to any client starting October 15, moving away from the previous restrictions that limited access to individuals with a minimum of $1.5 million in assets and an aggressive risk tolerance.

Morgan Stanley Broadens Crypto Access

This decision marks a notable evolution in the firm’s approach to digital assets, especially following the US government’s changing stance on cryptocurrencies under President Donald Trump’s administration. 

Throughout the year, the Republican Party, spearheaded by Trump’s vision of making America the ‘crypto capital of the world’, has taken significant steps towards this goal. 

These include the passing of the GENIUS Act for stablecoins and the appointment of Paul Atkins as the new US Securities and Exchange Commission (SEC) chair. This has also led to the dropping of several enforcement cases which targeted industry giants like Coinbase, Binance, Uniswap, among others. 

As a result, Morgan Stanley recently indicated that it would enable trading of THE market’s largest cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), through its E-Trade subsidiary.

Furthermore, the firm has consistently demonstrated a willingness to adapt to market trends, particularly as competition from platforms like Coinbase (COIN) and Robinhood (HOOD) intensifies.

As it eliminates eligibility requirements for crypto funds, the bank plans to implement an automated monitoring system to ensure that clients do not become overly concentrated in these investments.

Major Banks Explore Stablecoin Launches

The global investment committee at Morgan Stanley has recommended a cautious approach, suggesting a maximum initial allocation of up to 4% to cryptocurrencies based on individual investment goals ranging from wealth preservation to opportunistic growth. 

Lisa Shalett, the chief investment officer for wealth management, emphasized that while cryptocurrencies are increasingly popular, they remain “speculative assets” that not all investors will choose to pursue.

Currently, advisors are limited to offering Bitcoin funds from established firms like BlackRock and Fidelity. However, Morgan Stanley is actively observing the evolving landscape for potential expansions in its offerings, including broader crypto options. 

This initiative comes as major US banks, such as Bank of America and Citibank, explore the launch of stablecoins, signaling a transformative shift in the financial services sector.

Morgan Stanley is also monitoring developments in the stablecoin market. CFO Sharon Yeshaya has acknowledged the potential applications of stablecoins for their clientele, although she noted that it is still too early to assess their full impact on the firm’s operations. 

Featured image from DALL-E, chart from TradingView.com