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Whale Awakes After 14 Years: 4,000 BTC Moved
A wallet from Bitcoin's early years has become active again after a 14-year hiatus. On-chain data showed that a "Satoshi-era" miner, who earned 4,000 BTC in 2009 and remained dormant for a long time, transferred 150 BTC (approximately $16 million).According to data shared by blockchain analysis platform Whale Alert, the owner of the wallet in question mined Bitcoin between April and June 2009, earning approximately 4,000 BTC. This period coincides with the early days of the Bitcoin network and when Satoshi Nakamoto was still active in the community.150 BTC Move After 14 Years of SilenceAccording to Nansen data, the anonymous investor sent 150 BTC to another address in a single transaction. The transfer was recorded on-chain on Thursday. On-chain analysis platform Mempool Space states that this wallet once held 7,850 BTC, was last active in 2011, and that 4,000 BTC were consolidated into a single address during that year. At today's prices, this amount is equivalent to approximately $442 million. Bitcoin was worth only $194 in 2010 when CoinMarketCap began tracking its price. This means this wallet's assets have appreciated millions of times over the past 14 years.Is a sell-off coming?On-chain movements often raise concerns among investors about "selling pressure?" However, analysts emphasize that the movements of such older wallets are often not sales, but rather reorganizations for security or technical reasons.Independent blockchain analyst Emmett Gallic, in a post on his X account, stated that the "whale" in question held up to 8,000 BTC in the past and gradually transferred it to different addresses over the years. Gallic said, “After moving 150 BTC today, he now has 3,850 BTC left. This is an excellent strategy for long-term investors.”Satoshi-era assets in demandSimilarly, in July, another Satoshi-era whale moved a massive 80,201 BTC holding for the first time in 14 years, with some of the transfers appearing to be directed to Galaxy Digital. According to analyst Willy Woo, older investors holding more than 10,000 BTC have been gradually selling since 2017. However, experts caution that such moves should not cause panic in the market.Bitcoin price is currently trading around $111,000. The largest coin has risen from $108,000 to $111,200 in the last 24 hours. With daily trading volume exceeding $20 billion, a 150 BTC transfer is unlikely to have a significant impact on the price.
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24 Oct 2025
Standard Chartered: Bitcoin Could Fall Below $100,000
Bitcoin (BTC) is expected to experience a significant decline this weekend. Geoffrey Kendrick, head of digital assets research at UK-based bank Standard Chartered, stated that it is almost inevitable that Bitcoin will fall below the $100,000 threshold this week.According to Kendrick, this decline could be short-lived and could also present a buying opportunity. In fact, he says such a pullback could be "the last time Bitcoin falls below $100,000."Background on Bitcoin PriceBitcoin surpassed $126,000 on October 6th, reaching new record highs. However, renewed concerns about the US-China trade war on October 10th created selling pressure. Kendrick explains this by saying, "After the surge on October 6th, the sell-off on October 10th halted the rally." The research note states, "The question now is: How much does Bitcoin have to fall before it forms a bottom?" Kendrick highlights three key indicators for a bottom:A shift in capital from gold to Bitcoin (i.e., selling gold turns into buying Bitcoin).The Federal Reserve's (Fed) acknowledgement of a liquidity squeeze or the halting of quantitative tightening (QT).Technical support levels, particularly the 50-week moving average.The gold-to-Bitcoin rotation is particularly noteworthy. This week's sharp sell-off in gold and Bitcoin's intraday recovery are considered signs of such a shift. From a technical perspective, Bitcoin's continued presence above its 50-week moving average since early 2023 underscores the importance of this support.Current Market SituationAccording to data, the Bitcoin price is trading around $109,000 at the time of writing and has risen by approximately 1% in the last 24 hours. Kendrick maintains a target of $200,000 for Bitcoin by the end of the year. In the long term, he predicts it could reach $500,000 by 2028. Some believe this assessment carries a critical message for several prominent investors and analysts:If Bitcoin actually falls to $100,000 and holds there, a buying opportunity could arise at this level. Kendrick suggests, "Be prepared and be on the lookout for buying at the bottom."However, the notion that this decline is inevitable could be a short-term "shock" for the market. Macroeconomic and geopolitical risks appear to have played a role in this decline.This also signals that Bitcoin is sensitive to support levels, liquidity conditions, and outflows from alternative investment instruments (e.g., gold).In other words, Bitcoin's drop below $100,000 should not be interpreted as a sign of panic; on the contrary, analysts believe it represents an opportunity with the potential for a short-term correction and a "final low." However, before making any investment decisions, the macro environment, liquidity, and technical support should be carefully monitored.
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23 Oct 2025
$1.7 Trillion Giant's Crypto ETF Application: Many Altcoins at Stake
T. RowePrice, a traditional investment firm with approximately $1.77 trillion in asset management, has filed paperwork with the SEC for its first cryptocurrency-focused exchange-traded fund (ETF).T. Rowe, which manages $1.7 trillion, has made a move for cryptoAccording to the filing, the firm has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) under the name "TROW Active Crypto ETF." This fund is notable for its actively managed structure; instead of passively tracking a specific index, the management team will be able to make selections based on market conditions. The filing includes the following: The fund will invest in eligible crypto assets; the number of these assets will normally be between 5 and 15, but this number can be increased or decreased as needed. Potential assets include Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Dogecoin, Shiba Inu, Litecoin, and Polkadot. Management has also stated that this fund aims to exceed the FTSECryptoUSListedIndex index annually.This is significant for the company. The move into crypto by an institution founded in 1937 and specialized in mutual funds for many years is considered a milestone. Analyst Nate Geraci described this move as a "surprise from outside the field," as traditional asset managers were still perceived as cautious on the crypto side.This development indicates a shift in the balance of power in the asset management world. Traditional investment giants are now seeking ways to become a part of the crypto market rather than shying away from it. As analyst Nate Geraci put it, "Waiting for crypto to disappear is not a strategy."However, the application's approval process faces a hurdle. Due to the US government shutdown, the Securities and Exchange Commission has limited resources, delaying the processing of new crypto ETF applications. In this case, the process is expected to reopen to allow T. Rowe Price's application to be processed quickly. To summarize, this application represents a significant opportunity for both the institution and its investors. It's a critical step for the institution in diversifying its asset management portfolio. For investors, as with most crypto ETFs, it offers the potential to access crypto through a regulated institution. However, there are some important points to consider: the volatility of crypto assets can be much higher than traditional assets, and active management strategies may not always be successful. Once the application is approved, details such as fee levels, portfolio structure, and risk management should be presented to investors.
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23 Oct 2025
Established US Company Enters Crypto Payments Era in Its 110th Year
Bealls, a well-established US retail chain, has begun accepting crypto payments. Founded in Florida in 1915, the company can now accept payments in more than 99 cryptocurrencies thanks to its partnership with digital payment platform Flexa. This move coincides with Bealls' 110th anniversary and represents a new step in the integration of crypto into daily life in the retail sector.Bealls to Accept Crypto Payments with FlexaThanks to the integration with Flexa, Bealls has integrated the Flexa Payments system into its stores. This system allows payments with popular cryptocurrencies such as Bitcoin, Ethereum, Solana, Dogecoin, and Shiba Inu, as well as various stablecoins. Furthermore, users can conduct transactions through over 300 digital wallets. The company announced that this system will be available in all Bealls, Bealls Florida, and Home Centric stores. Bealls CEO Matt Beall emphasized in a statement that crypto payments are not just innovation but also preparation for the future: “Our partnership with Flexa is about more than just taking payments; it's about preparing for the future of commerce. Our company has kept pace with changing customer expectations for 110 years, and this takes us a step forward.”Flexa co-founder Trevor Filter described Bealls' move as “a milestone in retail history.” Filter said, “Bealls’ 110-year legacy is extraordinary. It’s no surprise that such a long-established brand would embrace the most significant payment technology evolution the world has ever seen.”Interest in crypto payments is growing. According to a study by Carat Global Platform, 16% of Americans have made at least one purchase with crypto. More than half of respondents said they would like to use crypto for online payments, while one-third said they also prefer to pay with crypto in brick-and-mortar stores. However, 25% of users stated that the limited number of businesses accepting crypto is limiting its adoption. Meanwhile, according to early 2025 data, 65 million American adults, or approximately 28% of the country's population, own cryptocurrencies. This rate suggests that crypto assets are no longer viewed solely as investment vehicles but also as a spendable currency. Bealls joins major brands like Shopify, AMC, and Whole Foods that have embraced crypto payments. This move strengthens the company's efforts to make crypto an "everyday spending tool" in the US retail sector. More chain stores are expected to adopt similar systems in the future. Bealls has launched this application in 660 of its stores, marking one of the most comprehensive in-store crypto payment integrations in the US.
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22 Oct 2025
SpaceX's $270 Million Bitcoin Move: First Transfer After 3 Months
Elon Musk's space technology giant, SpaceX, made a notable move regarding its Bitcoin holdings. The company transferred 2,395 BTC, worth approximately $268 million, to two different wallets. According to data from on-chain analytics platform Arkham Intelligence, this transaction occurred just three months after a previous large transfer in July. SpaceX mobilizes Bitcoin holdingsThe transactions were made early Monday morning, with 1,187 BTC sent to the address "bc1q…4sdu" and 1,208 BTC to the address "bc1q…6kqe." Both wallets are currently dormant, meaning there is no sign of the Bitcoin being sold or transferred elsewhere.This development has sparked a new debate about Elon Musk's Bitcoin strategy. Similar moves by SpaceX in the past have generally been related to wallet adjustments rather than selling or inciting panic. A transfer of approximately 1,300 BTC made in July 2025 was later revealed to be a Coinbase Prime Custody account transfer. Experts suggest that the latest transaction may have been a similar internal restructuring.Crypto analysts note that institutional Bitcoin holders like SpaceX occasionally move their assets to different wallets as part of security and custody regulations. Such "cold wallet" transfers are carried out in accordance with multi-signature systems and risk management policies. However, the fact that the transfer occurred at a time when the Bitcoin price had fallen to $107,000 has attracted investor attention.Crypto market prices are decliningThe market is currently under general selling pressure, with many large investors closing positions or shorting to limit losses. Therefore, some investors interpreted SpaceX's move as a potential sell-off. However, current data indicates that the transferred BTC remains untouched.According to Arkham Intelligence data, SpaceX's total Bitcoin reserves stand at 8,285 BTC. The current value of this amount is approximately $894 million. When Tesla's 11,509 BTC holdings are factored in, the total Bitcoin holdings of companies linked to Elon Musk exceed $1.24 billion.As you may recall, SpaceX reduced its Bitcoin reserves by approximately 70% following the Terra-Luna crash and the FTX bankruptcy in 2022. It is known that it has not made any new purchases since then. Therefore, the latest move may be a security-focused restructuring rather than a sell signal.In short, SpaceX's $268 million transfer has not yet created any selling pressure in the market. The current price declines are being linked to tensions between the US and China. As previously reported, Bitcoin has retreated to the $107,500 level. Markets are awaiting US President Donald Trump's meeting with Xi Jinping, the end of the US government shutdown, and upcoming data.
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21 Oct 2025
US-China Tensions Escalate: Bitcoin and Altcoins Fall
Bitcoin retreated to just above $107,000, partly due to tensions between the US and China. This market decline suggests that investors are increasingly risk-averse in the face of uncertain macroeconomic developments and rising tensions between the US and China. Investors are particularly excited ahead of US President Donald Trump's meeting with Chinese President Xi Jinping later this month. Data suggests that crypto investors have begun to reduce their positions.According to market data, Bitcoin price has fallen 2.44 percent in the last 24 hours, falling to $107,830. The largest cryptocurrency by market capitalization has seen a 3.7 percent weekly loss. After a brief recovery at the beginning of the week, BTC has tested the $111,200 level, and is experiencing renewed selling pressure. Some analysts predict this volatility will continue in the short term. For example, according to BTSE COO Jeff Mei, "macro concerns are currently driving the market's daily movements." According to Mei, volatility will continue as trade tensions between the US and China continue. Mei emphasized that the main reason for the decline was investors reducing their positions ahead of the Trump-Xi meeting. The meeting is expected to take place in South Korea at the end of the month. “The possibility of an agreement at the end of the month could temporarily calm the markets, but it is unlikely that the tension will completely disappear,” he added. He also stated, “The biggest risk for crypto markets today is the unpredictability of macro developments. Even a single tweet can move prices up or down. The most logical thing investors can do is diversify their portfolios and hedge against uncertainty.”What's the latest on the crypto market?These macro pressures affected not only Bitcoin but also leading altcoins. Ethereum fell 4.77 percent to $3,855, while BNB traded at a 5.36 percent loss. Solana also fell 4.6 percent. Outflows from spot crypto ETFs also continued. According to market data, there were net outflows of $40.5 million from spot Bitcoin ETFs and $145.7 million from spot Ethereum ETFs. Last week, BTC ETFs had their worst weekly outflow of recent times, with a net outflow of $1.23 billion.The weak performance of both individual and institutional investors indicates a deterioration in market sentiment. The Fear and Greed Index is currently at 29, in "fear" territory. Meanwhile, investors are focusing on the US Consumer Price Index (CPI) data, which will be released this week. This data is critical for understanding the inflation trend. The market believes that if the data is weak, the probability of a 25 basis point interest rate cut by the US Federal Reserve (Fed) this month increases. According to CME Group's FedWatch tool, this probability is priced in at 98.9%.Will trade tensions spill over into geopolitical areas? There's talk that the tensions in US-China relations may not be limited to trade but could spill over into geopolitical areas like the South China Sea and Taiwan. The Trump administration has issued stern warnings against China's imposition of sanctions on companies investing in US-based strategic industries. China's recent restrictions on the US branches of South Korea's Hanwha Ocean have ignited a new economic conflict between the two countries centered on maritime and defense industries.
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21 Oct 2025
Fed Meets Tomorrow: Bitcoin and Stablecoins on the Agenda
The US Federal Reserve (Fed) will hold a "Payments Innovation Conference" on October 21st to discuss the future of new technologies in the payments field. The event will discuss Bitcoin, stablecoins, and blockchain-based payment systems. This development is considered a significant turning point in the US approach to the role of digital assets within the financial system.Fed Discusses CryptocurrenciesAccording to a statement released by the Fed on September 3rd, the conference will bring together regulators, financial institutions, and technology experts on October 21st. The main themes of the event will be the intersection of traditional and decentralized finance, stablecoin use cases, the impact of artificial intelligence on payments, and the tokenization of financial products. Fed official Christopher J. Waller, who will speak at the conference's opening, said, "Innovation in payments has always existed to meet the changing needs of consumers and businesses. Now is the time to examine the opportunities and challenges of these technologies together." This statement signals a shift in the US Federal Reserve's tone toward digital assets, which it has long distanced from. Until now, Bitcoin and stablecoins were largely viewed as speculative investment instruments or elements posing regulatory risks. However, the Fed's decision to address these assets in conjunction with the future of the financial system at an official event is being interpreted as a paradigmatic shift. Clarifying the regulatory framework for the use of stablecoins in payments could pave the way for new opportunities for both financial institutions and technology companies.The crypto community sees this step by the Fed as a hope that, in the long term, digital assets will gain a more institutional footing in the US financial system. The event's agenda is not limited to cryptocurrencies. Tokenization, AI-powered payment systems, and decentralized financial infrastructures will also be among the topics to be discussed. Experts believe these issues could pave the way for the Fed's future steps in the field of digital currencies and payments. The implications regarding the oversight of stablecoins and their role in interbank payments are particularly significant for the sector. Immediately following this meeting, the Federal Open Market Committee (FOMC) meeting, scheduled for October 28-29, will be closely watched by markets. Economists predict the Fed may consider cutting interest rates at this meeting. Chairman Jerome Powell stated last month that the bank has shifted to a "more neutral policy stance." However, there is still no consensus among members on the interest rate range encompassed by "neutral."This softening of the Fed's stance on cryptocurrencies could be a turning point in terms of both regulatory clarity and institutional participation. The official discussion of Bitcoin and stablecoins within payment systems is seen as a signal that a new chapter may be opening in US policies toward digital assets.
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20 Oct 2025
Strategy Continues to Pick Up Bitcoin from Bottom
Strategy, one of the largest institutional investors in Bitcoin, has once again increased its holdings. Between October 13th and 19th, the company purchased 168 Bitcoins at an average price of $112,051. Approximately $18.8 million was spent on this transaction, bringing the company's total Bitcoin holdings to 640,418. This amount represents more than 3% of Bitcoin's maximum supply of 21 million.Strategy Holds a Large Amount of BitcoinStrategy's total Bitcoin holdings are approximately $47.4 billion. According to co-founder and CEO Michael Saylor, these holdings are worth around $71 billion at current prices. This means the company has over $23 billion in paper revenue. These purchases were financed with proceeds from the firm's perpetual preferred stock sales.The company has recently been raising funds through these special types of stock, known as STRK, STRF, and STRD. STRK, a convertible stock with an 8% dividend yield, offers investors higher return potential. STRF offers a more stable structure with a 10% cumulative dividend. STRD, on the other hand, is non-convertible and offers a 10% dividend yield, offering a higher risk-return profile. Furthermore, Strategy aims to raise a total of $84 billion in capital by 2027 with a new strategy it calls the "42/42 plan." This plan is an expanded version of the firm's initial $42 billion "21/21" program.Strategy's aggressive Bitcoin purchase program is still a matter of debate in the traditional finance world. However, Michael Saylor argues that in the long term, Bitcoin will be the digital equivalent of the dollar. Last week, Saylor signaled new purchases in a post on his X account, saying, "The most important orange dot is always the next one." Following this announcement, the company announced another purchase of 220 BTC. According to market data, 190 publicly traded companies currently hold Bitcoin reserves. Strategy is the clear leader in this field, followed by Marathon Digital with 53,250 BTC, Tether-backed Twenty One with 43,514 BTC, Metaplanet with 30,823 BTC, and Bitcoin Standard Treasury Company with 30,021 BTC. Other major institutional holders include Riot Platforms, Trump Media & Technology Group, CleanSpark, and Coinbase. While the number of these companies is growing, their shares have been declining in recent months. Strategy stock is down 36% from its summer peak. Nevertheless, the company continues to view Bitcoin as a long-term store of value. As Michael Saylor has previously noted, Strategy's capital structure is designed to withstand even a 90% drop in Bitcoin's price. However, Saylor acknowledges that "shareholders would suffer" in such a scenario.
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20 Oct 2025
$6 Billion in Options Expires: BTC and ETH Under Pressure
The final trading day of the week in crypto markets is marked by intense stress. With approximately $6 billion in Bitcoin and Ethereum options expiring today, investors have strengthened their defensive positions against the long-anticipated downward wave. According to Deribit data, $4.8 billion worth of contracts are expiring on the Bitcoin side. The put-call ratio is at 0.83, indicating higher demand for put options than for calls.Critical Levels for Bitcoin and ETHBitcoin is trading around $105,000. While the price is struggling to hold just above key support levels, data from the futures and options markets indicate a weak outlook in the short term. The "maximum pain," or the level where investors will face the most losses, is around $116,000. This level confirms that expectations for an upward movement in the market are weak, as it suggests that many contracts will expire worthless. The outlook for Ethereum is similar. ETH is trading around $3,700, while the $4,100 level represents a significant threshold, both technically and from an options perspective. With more than 250,000 ETH contracts expiring, the put-call ratio is at 0.81. This ratio suggests that the majority of investors are opting for downside hedging strategies. One of the main reasons for the recent market unrest is the $50 million loss suffered by Selini Capital. The fund's significant loss due to a failed derivatives transaction has created a cascading anxiety among market makers. The cautious approach of liquidity providers, in particular, has led to a significant decline in trading volumes.Macroeconomic developments are also impacting cryptocurrencies.Global political and economic uncertainties have also added to this picture. The Trump administration's volatile statements on trade and energy policies have almost completely suppressed risk appetite. Investors are turning to hedging positions again as uncertainty grows. This "political noise" is seen as one of the main reasons for the selling pressure on crypto assets. Analysts consider $93,500 a potential bottom for Bitcoin, with $100,000 representing a short-term recovery threshold. However, current data suggests the market will remain sideways and tense for some time before approaching these levels.The negative trend seen in the options market suggests that investors are preparing for increased volatility. Put-heavy trading increases the likelihood of further price declines. However, some investors are aiming to capitalize on short-term rebounds by selling put options near the bottom after this sharp sell-off.The overall picture suggests a cautious approach in the crypto market. As long as the flood crisis subsides and the macroeconomic picture remains clear, a recovery in risk appetite appears unlikely. Options data also suggests that the market's next major move could still be downward.
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17 Oct 2025
Bitcoin at $105,000: JPMorgan Explains Reason for Decrease
A sell-off continues in the cryptocurrency market. The price of Bitcoin fell to $105,000 as of the morning of October 17th, its lowest level since early September. This decline was fueled by both the re-escalation of trade tensions between the US and China and signals of weakness in US regional banks. Ether fell 1.5% to $3,928, while other major cryptocurrencies such as BNB, XRP, and Solana followed suit. The Fear & Greed Index, which measures market sentiment, fell to 22, indicating that investors are in the "extreme fear" zone. This sentiment is also paralleled by the uncertainty in US stock markets.Statements regarding bad loans from regional banks in the US, particularly Zions Bancorp and Western Alliance Bancorp, have brought the fragility of the financial system back into the spotlight. Furthermore, US President Donald Trump's statement, "We are in a trade war with China," has created a new wave in the markets. These statements have created selling pressure on all risk assets, from stocks to crypto. Presto Research analyst Min Jung said, “The market is completely driven by headlines surrounding the US-China trade war. The state of regional banks is also damaging investor confidence.” Vincent Liu, investment director at Kronos Research, commented, “While BTC and ETH are more resilient than stocks, any macro shock can quickly reverse the market due to low liquidity.”JPMorgan explains the reason behind the decline in Bitcoin and altcoinsHowever, according to JPMorgan analysts, the main reason for this sharp decline in recent weeks is crypto-specific investor behavior rather than external developments. The bank's analysts note that last week's liquidations largely came from "crypto-native" traders, while traditional ETF investors and institutional players did not sell heavily during this period.According to JPMorgan data, there was a net outflow of only $220 million from Bitcoin ETFs and $370 million from Ethereum ETFs between October 10-14. These figures represent a very small fraction of total assets under management. In contrast, open interest in the perpetual futures market, which is heavily used by crypto investors, fell by 40% in dollar terms. Analysts describe this data as "a wave of liquidations sharper than price declines."Last week, markets experienced the largest liquidation in history, wiping out more than $20 billion in leveraged positions. The closing of over 1.5 million positions in just one week shook the market. Bitcoin is currently trading around $105,000. JPMorgan predicts that interest rate cuts or new spot ETF approvals could spark a recovery in the fourth quarter, but volatility will remain high in the short term.
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17 Oct 2025
Bitcoin Falls Again: ETF Outflows Pressure Price
Consecutive outflows from spot Bitcoin and Ethereum ETFs in the US have deepened the selling pressure in the crypto market. Bitcoin fell below $112,000 on Tuesday, extending its two-day decline. Analysts say both ETF outflows and the reduction in positions in derivatives markets are dampening investors' risk appetite.Bitcoin Price FallsMarket data shows Bitcoin's daily loss exceeded 3%, with the broader market following a similar pattern. Among the top 10 cryptocurrencies, BNB, linked to the Binance ecosystem, suffered one of the sharpest declines, losing nearly double-digit value. At the beginning of the week, spot Bitcoin and Ether ETFs in the US recorded a total net outflow of $755 million. According to SoSoValue data, $326.5 million came from Bitcoin ETFs and $428.5 million from Ethereum ETFs. Grayscale's GBTC fund withdrew $145 million, Bitwise's BITB fund withdrew $115 million, while funds from Fidelity, Ark&21Shares, and VanEck also suffered losses. BlackRock's IBIT fund alone reported $60 million in inflows. On the Ethereum side, BlackRock's ETHA fund alone saw $310 million outflows—the fund's second-worst performance since launch."Monday's outflows reflect the cautious atmosphere following the massive liquidations," said Vincent Liu, investment director at Kronos Research. "Investors are currently awaiting clearer macro signals. Sentiment and risk perception, rather than fundamentals, are driving pricing."Last weekend, US President Donald Trump's announcement of 100% tariffs on Chinese imports triggered one of the largest crypto liquidations in history. Bitcoin tested below $105,000 as more than $500 billion in market value was wiped out. While prices later saw a partial recovery after Trump softened his rhetoric, institutional investors remain cautious.BRN research director Timothy Misir noted that ETF outflows accelerated and open interest plummeted: "Leverage has decreased, forcing the market to become defensive in the short term." According to DeFiLlama data, total open interest on derivatives exchanges fell from $26 billion to less than $14 billion; DEX trading volume hit a record $177 billion, and lending fees exceeded $20 million in a single day.QCP Capital emphasized that US-China trade tensions played a significant role in the recent decline. In addition to the 100% tariff decision, China's export restrictions also fueled panic selling. According to CoinGlass data, $511 million in long positions were liquidated on October 14th alone, sending Bitcoin down to $110,000.Risk aversion has also become evident in the options market. Derive founder Nick Forster reported that investors are turning to near-term put options, with a surge in put buying for October 31st at $115,000 and $95,000. The prominence of selling in call positions for October 17th at $125,000 suggests a negative outlook in the short term.According to Forster, the most important factor determining the future direction will be whether inflows in spot markets will strengthen again. "The market is currently lacking institutional demand. It's difficult to gain upward momentum without new inflows," he said.China's statement Tuesday morning that "we will fight the trade war to the end" has once again intensified market tensions. Bitcoin fell 3.25 percent to below $112,000, while Ethereum fell 3.39 percent to $4,030.
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14 Oct 2025
Strategy Continues Bitcoin Purchases: Reaches a Total of 640,250 BTC
Institutional Bitcoin investor Strategy (formerly MicroStrategy) continues to grow its Bitcoin holdings with a new acquisition. Between October 6th and 12th, the company spent approximately $27.2 million by purchasing an additional 220 BTC at an average price of $123,561. This brings the company's total Bitcoin holdings to 640,250 BTC.Strategy's Bitcoin AcquisitionMichael Saylor, co-founder and chairman of the board, stated that these acquisitions were made at an average cost of $74,000 per Bitcoin. Strategy's total investment amount is $47.4 billion, and at current prices, this portfolio is worth around $73 billion. This figure represents approximately 3% of the total supply of 21 million Bitcoin. The company carries approximately $25.6 billion in unrealized profits on this holding. The new acquisitions were financed with proceeds from the sale of Strategy's continuously issued preferred stock. These stock series, codenamed STRK, STRF, and STRD, were launched as part of the company's massive Bitcoin acquisition strategy. STRK, a convertible stock yielding 8% dividends, allows investors to share in the stock's growth. STRF, with its 10% dividend and non-convertible structure, offers a more conservative profile. STRD, with its 10% dividend but non-convertible structure, is considered the stock type with the highest risk-reward balance.These shares are part of the company's $84 billion capital increase strategy, known as the "42/42 Plan." Strategy aims to grow its Bitcoin holdings through both stock and bond issuances by 2027.Strategy Leads BTC Treasury CompaniesAccording to market data, 188 publicly traded companies worldwide hold Bitcoin as a reserve asset. Strategy tops this list; It is followed by Marathon Digital (52,850 BTC), Tether-backed Twenty One (43,514 BTC), Metaplanet (30,823 BTC), Bitcoin Standard Treasury (30,021 BTC), and Riot Platforms (24,300 BTC).The company generated $3.89 billion in unrealized profits from its digital asset portfolio in the third quarter. At the end of the same period, it recorded a $1.12 billion deferred tax expense and a total tax liability of $7.43 billion.The price of Bitcoin dipped below $105,000 after a sharp sell-off last week. However, it recovered at the beginning of the week, rising above $114,000. Saylor, in a social media post over the weekend, stated that the buying would continue, saying, "Don't Stop ₿elievin'" (don't stop believing). Strategy shares closed down 4.8 percent at $304.79 on Friday, down 13.1 percent for the week. Despite this, the company remains committed to its long-term strategy, aligning with Bitcoin's price.
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13 Oct 2025
Despite the Crash, $3.17 Billion Inflows into Crypto Funds
Despite last Friday's major market crash, crypto investment products had a strong week. According to CoinShares data, digital asset investment funds recorded a total net inflow of $3.17 billion over the last seven days. This brings the total amount of money entering funds throughout 2025 to $48.7 billion, surpassing last year's record.US President Donald Trump's announcement of new tariffs on China was the driving force behind the sharp market fluctuations. This triggered a global sell-off, quickly liquidating over $20 billion in positions. However, James Butterfill, Head of Research at CoinShares, stated that Friday's panic selling had limited impact on funds: "Despite the sharp market correction, there was only a weak outflow of $159 million on Friday."Trading volumes hit recordsAnother noteworthy piece of data in the report was the record increase in trading volume. Weekly trading volume for crypto investment products reached $53 billion, with $15.3 billion in transactions on Friday alone. This figure is twice the 2025 average. However, total assets under management (AUM) decreased by 7% on a weekly basis, falling from $254 billion to $242 billion.Bitcoin funds took the leadThe highest inflows throughout the week occurred in Bitcoin-focused investment products. $2.67 billion flowed into Bitcoin funds, bringing the total inflow since the beginning of the year to $30.2 billion. However, this figure is still approximately 30% below the $41.7 billion total in 2024. Butterfill also emphasized that trading volumes reached an all-time high of $10.4 billion during Friday's price correction.Ethereum investment products also managed to close the week positively. ETH funds saw $338 million inflows, while Ethereum also experienced the largest individual loss of the week, with a single-day outflow of $172 million on Friday. Butterfill stated that investors considered Ether products "the most vulnerable asset" during the market crash. Altcoin funds slowedA significant slowdown was observed in leading altcoin investment products like Solana and XRP. Solana funds saw inflows of $93.3 million, while XRP funds saw inflows of $61.6 million. These figures were significantly lower than the previous week's massive inflows of $706.5 million and $219 million, respectively. Despite this decline, experts believe that the expected Solana and XRP ETF approvals in the US could generate new momentum in the market. However, as long as the current government shutdown continues, these approvals are likely to be delayed. Currently, at least 16 crypto ETF applications are awaiting approval from the US Securities and Exchange Commission (SEC). According to Nate Geraci, President of NovaDius Wealth Management, "a flood of spot crypto ETFs will be expected" as the government reopens.
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13 Oct 2025
Bitcoin and Altcoins Rebound After Historic $19 Billion Purge
Bitcoin and Ethereum have staged a remarkable recovery after the sharp decline over the weekend. The sell-off that began on Friday led to the largest liquidations in crypto history to date. However, analysts believe the bullish sentiment dubbed "Uptober" hasn't completely faded; the market is regaining its footing after a short-lived shock.$19.1 billion in cryptocurrency positions liquidatedAccording to Coinglass data, more than 1.6 million investors liquidated positions on Friday alone, closing a total of $19.1 billion. Bitcoin briefly fell below $105,000, while Ethereum fell to $3,500. This sharp decline was triggered by macroeconomic developments. China's new restrictions on rare earth exports and the US's retaliatory announcement of 100% tariffs on Chinese technology products have shaken global risk perception. This news, arriving just as markets were closed, combined with low liquidity over the weekend, led to a cascade of liquidations. Presto Research researcher Rick Maeda stated that the crash was “not a crypto-specific panic, but a macro-driven liquidation wave.” According to Maeda, the sell-offs amplified by low trading volumes over the weekend, leading to billions of dollars in forced liquidations. “A purge of this scale has de-leveraged the system. The rise we’re seeing now is a result of this mechanical process,” he said. He added that investors aren’t overly concerned about the US-China tariffs: “Polymarket data only prices in a 15% chance that these tariffs will take effect by November 1st. This suggests the market views these risks as limited.”Bitcoin at $115,000Bitcoin’s price has stabilized after the weekend’s sharp sell-off, trading at $115,220 at the beginning of the week. Ethereum is also trading at $4,163, up 0.3% in the last 24 hours. The rest of the market is also showing signs of a slight recovery; BNB rose 1.9 percent to $1.327, while XRP rose 8.2 percent to $2.59. Solana is trading around $196. The total market capitalization has risen again above $2.3 trillion, with trading volumes reaching $91.9 billion for Bitcoin and $60 billion for Ethereum. Analyst Vincent Liu interpreted this recovery as a sign of "recovering risk appetite following panic selling." According to Kronos Research's investment director, the reduction in leverage and easing of tariff concerns have "re-encouraged the market." Liu said, "Traders are currently monitoring factors such as tariffs, technical trend lines, and dollar strength to test whether Bitcoin can sustain this upward trend."Nassar Achkar, CoinW's strategy director, maintains that the "Uptober" trend is still alive. He believes investors are now focused on macroeconomic indicators, particularly the upcoming US Consumer Price Index (CPI) report and the Fed's interest rate decision, for direction. "ETF flows also indicate continued institutional interest in the market, suggesting a sustained recovery," he added.LVRG Research director Nick Ruck also noted the promising on-chain data. According to Ruck, whales have reaccumulated in many assets, particularly Ethereum. "Technical indicators are signaling a strong reversal from oversold territory. This confirms the bottoms for many altcoins," he said.Despite this, Maeda believes the scars of the market's "trauma" will not fade easily. "We are facing the largest liquidation event in crypto history. This will have a lasting impact on investor psychology. The market is now much more sensitive to macro shocks, especially the US-China trade tension," he warned.Looking at the overall picture, the crypto market is seeking stability again after a period of significant volatility. The "Uptober" sentiment has been dashed, but it hasn't completely faded. Deleveraging, on-chain buying, and institutional inflows from ETFs are creating cautious optimism in the short term. Bitcoin holding steady around $115,000 and Ethereum holding above $4,000 suggest investors are regaining confidence for now.
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13 Oct 2025
$5.6 Billion in Bitcoin and Ethereum Options Expires Today
Volatility in the crypto market could rise again this weekend. According to Deribit data, a total of $5.3 billion worth of Bitcoin and Ethereum options contracts are expiring today. This development both increases uncertainty about price direction and suggests that sharp market movements are possible heading into the weekend.Critical level for Bitcoin: $118,000Bitcoin options account for the majority of this massive expiration volume. A total of $4.7 billion worth of contracts are set to expire today. According to analysts, the "maximum pain" level in the market before this expiration, or the price at which option buyers incur the most losses, is around $118,000. This level is also seen as a key short-term support level for Bitcoin. Deribit data shows that Bitcoin investors' positions are split in two: one group is focused on $110,000 worth of put options, while the other maintains bullish expectations with $120,000 worth of calls. This imbalance could pave the way for sharp price movements heading into the weekend.Bitcoin's put/call ratio in the options market is currently at 1.10. This ratio suggests that investors are seeking some downside protection, but the overall outlook remains balanced.More optimistic sentiment prevails on EthereumThe outlook for Ethereum is slightly more positive. Approximately $944.5 million worth of ETH options will expire today. Ethereum's put/call ratio is at 0.90, meaning there are more buy positions than sell positions. This suggests investors believe in short-term upside potential.The maximum pain level for Ethereum is $4,400. A price hold above this level could bolster market confidence for the weekend. However, a drop below $4,300 could increase the likelihood of a short-term correction.Liquidity decreases and volatility increasesLarge-scale option expirations can cause sudden directional changes in the spot market. This is because many investors are forced to close or rebalance their positions after expiration. This, in turn, increases price volatility with high volumes of transactions on both the buy and sell sides.Glassnode's latest data reveals that Bitcoin is still trading above its short-term investor cost floor. While this suggests continued upward momentum, it also poses the risk of market overheating. According to analysts, it is critical for the price to maintain the $118,000 support level; otherwise, liquidations in leveraged positions may occur.On the Ethereum side, the increase in open interest indicates that institutional and individual investors are reshaping their market expectations. This makes determining the direction in the short term even more difficult.With the expiration of a total of $5.6 billion in options, the price of both Bitcoin and Ethereum may experience short-term sharp price movements. Historically, the market has experienced high volatility for several days following such large expiration periods. Experts predict that Bitcoin could rally back to $120,000 and above if it manages to hold above $118,000, while Ethereum has the potential to rally toward $4,750 as long as it stays above $4,400. However, a breakdown of these support levels could see further selling pressure in the market throughout the weekend.
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10 Oct 2025