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3x Leveraged ETFs for XRP, SOL, ETH, and Bitcoin Are Coming
The crypto market is heating up again. This time, GraniteShares is taking the stage. The US-based investment company has launched a plan for 3x leveraged exchange-traded funds (ETFs) for XRP, Solana, Ethereum, and Bitcoin. This means investors will now be able to take leveraged positions on both upside and downside of these major crypto assets with up to three times the leverage. 3x leveraged ETFs are coming for four cryptocurrenciesUS-based investment company GraniteShares is taking a new step to whet the appetite of crypto investors. The company has applied to offer 3x leveraged exchange-traded funds (ETFs) based on XRP, Solana, Ethereum, and Bitcoin. These products will be designed for both long (bullish) and short (bearish) positions.GraniteShares already offers similar leveraged products for Bitcoin, Ethereum, and Solana. However, the new application promises investors much higher returns (and, of course, risk) by offering up to 3x leveraged trading, particularly for XRP. Interest in XRP ETFs ContinuesIn recent months, 2X leveraged XRP ETFs have gained significant popularity among investors. GraniteShares aims to take this trend a step further. The company's planned 3x version is designed for risk-averse investors looking to maximize price fluctuations.However, this move comes at a time when the overall outlook for the crypto market is pessimistic. The XRP price has fallen below $2.90, while Bitcoin and Ethereum are also in the red. This has dampened enthusiasm for ETF applications in the short term.Approval Process Stalled by Government ShutdownThe U.S. Securities and Exchange Commission (SEC) has temporarily suspended review of new ETF applications due to the federal government shutdown. This has led to the indefinite postponement of approval for many altcoin products, including XRP ETFs.Nevertheless, GraniteShares' persistence is noteworthy. The company was one of the first institutions to champion crypto ETFs in the past. This move could create a leadership opportunity in the "high risk, high return" segment.Leading XRP lawyer Bill Morgan responded to GraniteShares's application with humor: "I will continue to panic-buy XRP in the face of this overwhelming demand for an XRP ETF," he said. Morgan also emphasized that the application demonstrates that XRP remains among the top four cryptocurrencies, alongside Bitcoin, Ethereum, and Solana.GraniteShares's move signals continued interest in XRP from institutional investors, even as the market declines. Despite regulatory uncertainty and price weakness, leveraged ETF offerings have brought XRP back into the headlines.The market's calm comes amidst a growing influence of traditional finance (TradFi). However, if these 3X leveraged products are approved, a renewed surge of volatility and renewed retail investor interest is expected in the crypto market.In short, if GraniteShares's move is approved, it could usher in a new era for risk-averse investors—a bold step bridging the gap between crypto and traditional finance.
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8 Oct 2025
VanEck Sets $644,000 Target for Bitcoin
Bitcoin's role as "digital gold," long dubbed "digital gold," has once again become a hot topic in the financial world. According to investment giant VanEck, the leading cryptocurrency could reach half the market value of gold by the next halving in 2028. Matthew Sigel, the company's head of digital asset research, predicts that the "equivalent value" for Bitcoin will be $644,000 during this period, when gold is reaching record highs.Gold futures have reached a record high of over $4,000 per ounce. This rise reflects the continued shift towards traditional safe havens. According to Sigel, this record high for gold also demonstrates Bitcoin's long-term potential: "At half the current price of gold, it would translate to a price of $644,000."Bitcoin price is currently trading around $124,000, with a total market capitalization of $2.48 trillion. Market data shows a 12% increase in the past month. However, VanEck analysts emphasize that this target could be achieved gradually over a period of five to 10 years, rather than in the short term. Derek Lim, manager of Caladan Research, said, “Reaching half of gold’s market capitalization requires an increase of approximately 5.6 times from current levels. Bitcoin is no longer parabolic as in the past, but exhibits more consistent growth. Therefore, achieving this target may take several years, not just one cycle.”These predictions coincide with gold outperforming Bitcoin this year. According to TradingView data, gold rose 49 percent through 2025, while Bitcoin’s return remained at 31 percent. However, analysts believe this gap will close in the long term. Ryan McMillin of Merkle Tree Capital said, “Even JPMorgan described gold and Bitcoin as ‘hedges against loss.’ It makes sense to consider the two together; first, half-value, then parity is possible.” VanEck predicts that Bitcoin could conduct 10% of global trade and 5% of local transactions on blockchain in the long term. According to a report published by the company in July 2024, central banks could hold an average of 2.5% of their assets in Bitcoin in the future. In this scenario, Bitcoin's market capitalization could reach $61 trillion and its price $2.9 million by 2050.Will history repeat itself?On the other hand, the market is cautious about whether historical cycles will repeat themselves. In the past, Bitcoin peaked 500–550 days after the halving. However, this cycle could be different. Experts note that spot ETFs and institutional participation have reduced volatility and made growth more sustainable.According to Derek Lim, “This time, we may see a more sustained upward trend, not a short-lived peak like in the past. The Fed's interest rate cut cycle has just begun, meaning Bitcoin has the wind at its back.”
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7 Oct 2025
Record Inflow into Global Crypto Funds: Strong Rise in Bitcoin and 6 Altcoins
Crypto asset investment products saw a record inflow of $5.95 billion last week. According to CoinShares data, this figure marked the highest weekly inflow ever measured for digital asset funds. This surge in investor interest is believed to be driven by the delayed response to the US Federal Reserve's interest rate cut, weak employment data, and concerns about the risk of a government shutdown.US-based products led the week by a large margin with $5 billion in inflows. Switzerland broke its own record with $563 million, while Germany saw its second-highest weekly inflow with $312 million. This strong performance brought the total asset value under management (AUM) of digital asset investment products to an all-time high of $254 billion.Strong inflows led by Bitcoin and EthereumThe lion's share of investment inflows went to Bitcoin. With $3.55 billion in weekly fund inflows, BTC reached its highest level in history. Despite this, investor interest in short-term instruments remained extremely low. This suggests that the overall bullish outlook in the market remains strong. Ethereum saw a strong inflow of $1.48 billion. This brings ETH's total fund inflow since the beginning of the year to $13.7 billion, almost triple the level of 2024. Spot Ethereum ETFs traded in the US reportedly received $1.3 billion, with BlackRock's ETHA product leading the way with an inflow of $691.7 million.Records for Solana and XRPSolana (SOL) saw its highest weekly inflow in history with $706.5 million. This figure brings Solana's total fund inflow for 2025 to $2.58 billion. XRP also attracted attention with a strong inflow of $219.4 million. However, other altcoins did not see the same momentum; Sui saw $3.4 million, Chainlink $1.5 million, and Litecoin $1.2 million. In contrast, multi-asset products saw $23.5 million in outflows. CoinShares data shows that investors preferred to concentrate on specific assets rather than diversify their portfolios during this period.US Dominance of ETF ProvidersAmong fund providers, iShares (BlackRock) ETFs topped the list with a massive inflow of $2.5 billion. Fidelity's Bitcoin fund saw inflows of $692 million, Grayscale's $305 million, and Bitwise's $295 million. CoinShares XBT products experienced a limited outflow of $12 million.Total inflows since the beginning of the year have reached $45.5 billion, with $35.7 billion of these flows coming from iShares products. This chart clearly demonstrates that US-based ETFs clearly dominate the market dynamics.Weakening global employment data has reinforced investors' tendency to reduce risk in traditional markets. This has fueled demand for liquid assets, particularly Bitcoin and Ethereum. According to CoinShares analyst James Butterfill, market movements indicate that the search for a “digital safe haven” has regained momentum due to both the delayed impact of the interest rate cut and political uncertainties in the US.
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6 Oct 2025
Bitcoin Reclaims Its Throne: Breaks New Record at $125,000
Bitcoin is making headlines again. Having reached a new all-time high of $125,750 over the weekend, BTC began the new week with a slight correction and is trading at $123,886.21 according to the latest price data. Following September's volatile run, the rally, which exceeded 9% in October, has gained technical strength as the $120,000 level transitioned from resistance to support. This threshold strengthens the position of buyers while limiting selling pressure for now.US Government Shutdown Impacts BitcoinThe market's story isn't just about the charts. The possibility of a slowdown in data flow due to the US government shutdown has fueled expectations that global central banks will remain cautious, reviving the "safe haven" narrative. Demand for spot Bitcoin ETFs is supporting this narrative on the price side. Indeed, the rally came over the weekend, a day when liquidity is generally shallower; This suggests that the move was fueled by spot demand and ETF inflows rather than a single-day squeeze. The cryptocurrency's total market capitalization rose to approximately $4.07 trillion, while the Fear & Greed Index stood at 64, a region devoid of excessive enthusiasm but still open to risk appetite.The altcoin picture is mixed. While the market retreated, profit-taking was prominent in some majors; however, weekly divergences continue. BNB closed the week on a high note and maintains its momentum; its latest price was $1,212.01. Ethereum is at $4,568.31. While October's performance wasn't as aggressive as Bitcoin's, institutional demand and the staking narrative are keeping ETH strong. Solana is off its yearly lows at $233.68; developer interest in the ecosystem and accelerating DeFi activity are providing support below the price. XRP is at $2.9935; increasing open interest in the derivatives market suggests the search for a catalyst in spot continues. TRX is at $0.3438 and DOGE is at $0.25695; while short-term fluctuations continue on the memecoin side, sharp movements have become intermittent thanks to deep liquidity. The health of the stablecoin front is also noteworthy: USDT is at 0.99992116; USDC is at 0.9995. The approximately $45 billion expansion in stablecoin supply in the last quarter suggests that ammunition is accumulating for new buying waves. In the technical picture for Bitcoin price, the focus is once again on the $125,000 range. This level is no longer merely psychological; it is also a region where long-term investors have been selling from time to time since July. A rapid approach and unsuccessful attempt in the short term signal that supply is still the dominant force; a climb under gradual and calm funding conditions increases the likelihood of a break above the resistance. Below $120,000 remains a current "quality test"; staying above this level is critical for maintaining the trend without tiring. It is beneficial to seek confirmation on volume during the week. From a macroeconomic perspective, two themes stand out: the "expectation of monetary easing" and the "erosion of the dollar's value." The simultaneous rise in the price of gold reinforces this framework; these periods, when risk assets and safe havens rise together, generally coincide with phases where the possibility of easing monetary conditions is priced in. ETF inflows into institutional structures, news of companies adding BTC to their balance sheets, and the recovery in crypto-related stocks are other links in the chain.In summary, there's no clear answer to the question "is the bull run over?"; however, the data suggests the run is taking a break and we're in the early stages of the marathon. $125,000 is a short-term magnet; it's likely to be tested. A break above suggests new exploration territory; a decline below suggests a reactionary force in the $120,000–122,000 range. Within this framework, risk management, leverage discipline, and the direction of stable liquidity flow will again be decisive in portfolio management.
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6 Oct 2025
Samsung and Coinbase Partner to Provide Cryptocurrency Services to 75 Million Galaxy Users
Samsung has announced a partnership with Coinbase, taking one of its biggest steps into the cryptocurrency world. According to the announcement, 75 million Galaxy device users in the US will now have access to Coinbase's premium transaction service through Samsung Wallet. This move marks Coinbase's largest individual user rollout to date and Samsung's strongest move into crypto assets.Samsung Wallet will offer Galaxy owners the Coinbase One service directly from their phones. This service includes zero transaction fees and increased staking rewards. Users will be able to easily buy and sell crypto without having to download a separate app or transfer funds to other platforms. This will unify the crypto experience with smartphone payment and identity management features.Samsung Pay integration will also be implementedAnother aspect of the partnership is Samsung Pay integration. Galaxy users will be able to use their crypto assets directly through Samsung Pay as a payment tool. This will make cryptocurrencies more important not only for investment or staking, but also as a part of everyday life. Users will be able to store their credit cards, public transportation passes, and IDs within the same digital wallet, while also accessing their crypto accounts.Coinbase's Head of Business Development, Shan Aggarwal, stated that their vision is to "transfer over a billion people onto blockchain," emphasizing that the path to achieving this goal is through the devices people already use. Aggarwal emphasized that making it easier to participate in the crypto ecosystem will accelerate global adoption.On the Samsung front, Drew Blackard, Senior Vice President of Mobile Product Management, stated that adding crypto features to Samsung Wallet, which Galaxy users already use securely, will make the experience more functional and engaging. Blackard stated that such collaborations enrich users' digital lives.While the program will initially launch in the US, it will expand to international Galaxy markets in the coming months. This will allow millions of Galaxy users in Europe and Asia to access Coinbase services directly from their devices.
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3 Oct 2025
$4.3 Billion in Options Expiration on Bitcoin and Ethereum: What Awaits the Markets?
The cryptocurrency market is passing a critical juncture on the last day of the week. A total of $4.3 billion worth of Bitcoin and Ethereum options contracts will expire today. This volume has the potential to both increase price volatility and cause investors to reconsider their positions.According to options data, $3.36 billion of the expiring contracts belong to Bitcoin. Ethereum accounts for $974 million in volume. According to information from the Deribit exchange, the "maximum pain" level for Bitcoin is $115,000. This level is known as the point at which the most options contracts become worthless, and market participants are closely monitoring the possibility of a price pullback to this level. Bitcoin is currently trading above $119,000. While this strengthens the position of bullish investors, it also raises the possibility that options sellers will push the price down. A total of 27,962 Bitcoin options contracts are expiring, with a put-call ratio of 1.13. This ratio indicates that there are more put contracts than call contracts, and the market trend is slightly negative.The picture is slightly different for Ethereum. The total value of contracts expiring is $974 million. The maximum pain level in this market, which includes 216,210 contracts, is calculated as $4,200. The put-call ratio of 0.93 indicates a more neutral outlook compared to Bitcoin. However, analysts note that volatility on the Ethereum side has decreased significantly in recent weeks, and investor interest has shifted to Bitcoin.$21 billion was on the agenda last weekLast week, the record $21 billion monthly options expiration significantly shook the markets. While this week's figures remain well below that level, they still have the potential to create volatility. Bitcoin's price, in particular, being just above the critical $120,000 level, indicates that the price is vulnerable to sharp fluctuations in the short term. Options analytics platform Greeks.live describes the current market environment as "extremely volatile and difficult to determine direction." According to analysts, intraday movements exceeding 3% are frequently observed, catching many investors off guard. It has become particularly common for short-term options contracts, which experienced 80% losses in the morning, to reverse course in the afternoon, leaving investors in the wrong position.Ethereum, on the other hand, is notably low in volatility. Consequently, many traders are aiming to capitalize on short-term sideways movements by selling ETH puts and buying Bitcoin calls at $120,000. This strategy is based on the expectation that the market will not make a significant breakout.In short, today's $4.3 billion options expiration will test Bitcoin's ability to sustain the $120,000 level. For Ethereum, the price is expected to remain relatively calm due to low volatility. However, it's important to remember that maximum pain levels for both assets can act as a "center of gravity" in the market.
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3 Oct 2025
JPMorgan's Record Bitcoin Prediction: Is $165,000 Coming?
As cryptocurrency markets enter the final quarter of the year, Wall Street giant JPMorgan has released a striking report. The bank stated that Bitcoin is significantly undervalued compared to gold, setting an ambitious year-end price target of $165,000.Bitcoin and gold comparisonUS banking giant JPMorgan stated that Bitcoin is significantly "cheap" compared to gold, setting a year-end price target of $165,000. The bank's analysts highlighted the volatility-based valuation gap between Bitcoin and gold.In their report, a team led by JPMorgan senior manager Nikolaos Panigirtzoglou highlighted that the Bitcoin-gold volatility ratio has fallen below 2. Accordingly, Bitcoin's risk capital consumption has fallen to 1.85 times that of gold. Analysts stated that Bitcoin's current market capitalization of $2.3 trillion would need to increase by approximately 42% to approach the $6 trillion level of private investment in gold. This theoretically points to a Bitcoin price of $165,000.At the end of last year, the bank calculated that Bitcoin was $36,000 overvalued compared to gold, but now reports that it is $46,000 undervalued. This rapid change, according to analysts, indicates significant upside potential for Bitcoin.The "Debasement Trade" EffectA JPMorgan report stated that investors are increasingly turning to a strategy called "debasement trade." This concept describes a shift to alternative value-preserving instruments due to factors such as inflation, government debt, geopolitical risks, and a decline in confidence in fiat currencies. Significant increases in inflows into both gold and Bitcoin ETFs have been observed in the past year.While spot Bitcoin ETFs saw strong demand, particularly in the first half of 2025, momentum slowed somewhat during the summer months. In contrast, inflows into gold ETFs accelerated, narrowing the gap between the two assets. JPMorgan noted that this process was driven primarily by the participation of individual investors, while institutional investors primarily held positions in CME futures. Rising gold prices may be making Bitcoin more attractiveAccording to analysts, the recent surge in gold prices is making Bitcoin relatively more attractive. JPMorgan, which announced a year-end target of $126,000 in August, revised its new price target upwards for Bitcoin following the gold rally.JPMorgan's forecast comes at a time of increasing bullish expectations in the market. In recent weeks, various analysts and financial institutions have begun talking about a $200,000 price target for Bitcoin. Currently trading around $119,000, Bitcoin's ability to reach $165,000 before the end of the year will depend on continued investor interest and a strengthening of the "debasement trading" trend.
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3 Oct 2025
Bitcoin and Altcoins Rise: Is Uptober Coming?
As the US federal government shutdown continues into its second day, cryptocurrency markets are exhibiting a strong recovery. Historically, government shutdowns have led to a surge in stocks; this time, a similar effect is being seen in Bitcoin and Ethereum. Bitcoin tested $121,000 on Thursday, reaching its highest level since mid-August. Ethereum, meanwhile, traded above $4,500, reaching a three-week high. Experts emphasize that the correlation between crypto assets and stocks will increase significantly by 2025. Since 1990, the rise in the S&P 500 index during every government shutdown has boosted investors' risk appetite. In this context, Bitcoin is reportedly benefiting from the same wind.The record-breaking rise in the gold market is also providing additional support to Bitcoin. Gold has reached an all-time high of over $3,900 per ounce. JPMorgan analysts predict that Bitcoin remains relatively cheap compared to gold at volatility-adjusted valuations and could rise to $165,000 by the end of the year. The recent shift by individual investors toward both gold and Bitcoin suggests that the pursuit of protection against inflation and currency depreciation, known as "debasement trading," is gaining traction.Cryptos Also Have Institutional SupportOn the institutional front, spot Bitcoin ETFs have begun to play a significant role in the market. On October 1st, the daily trading volume of spot Bitcoin ETFs in the US surpassed $5 billion. BlackRock's iShares Bitcoin Trust (IBIT) fund alone attracted $405 million in inflows and currently holds 773,000 BTC, reaching a size of approximately $93 billion. Fidelity also added a $179 million position by purchasing 1,570 BTC in a single day. This brings the total assets under management of spot Bitcoin ETFs to $155.9 billion. This figure corresponds to 6.6 percent of Bitcoin's total market capitalization.Another development that has increased investor interest has come from traditional giants. Vanguard, which has long distanced itself from crypto, is considering offering Bitcoin and Ethereum ETFs to its clients. New CEO Salim Ramji's background at BlackRock signals a possible softening of the company's approach. Even just 1 percent of Vanguard's 50 million clients accessing ETFs could mean half a million new investors entering the market.On the macroeconomic front, the probability of another Fed rate cut at its October meeting is priced at 98 percent. Both stocks and crypto assets began to rally after the first rate cut in September. A new rate cut could reinforce the markets' upward momentum.All these factors combined further strengthen expectations for October, known within the crypto community as "Uptober," historically the strongest month for Bitcoin. Bitcoin, which has risen by over 14 percent on average in October since 2013, may be no exception this year. According to analysts, the technical outlook opens the door for a potential move to $128,000.
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3 Oct 2025
Citigroup Revises Ethereum and Bitcoin Forecast
Global financial giant Citigroup has updated its year-end forecast for the cryptocurrency market. Driven by strong institutional demand and inflows from exchange-traded funds (ETFs), the bank revised its price target for Ether upwards, while making a small downward adjustment to its Bitcoin forecast.Citigroup Releases New Report on Bitcoin and EthereumAccording to Citigroup's new report, the year-end price target for Ether has been raised from $4,300 to $4,500. The bank stated that this increase was driven by increasing institutional demand, particularly through spot ETFs, and strong inflows from digital asset treasuries. This development demonstrates that confidence in the Ethereum ecosystem and liquidity inflows remain vibrant.In contrast, the revision for Bitcoin paints a relatively more cautious picture. Citigroup lowered its year-end price forecast for Bitcoin from $135,000 to $133,000. Bank analysts pointed to the strengthening dollar index and recent weakening gold prices as the reasons for this downward correction. It was stated that these two factors could limit investors' risk appetite.However, we are seeing Bitcoin moving in the opposite direction of Citigroup's prediction. Market data shows that Bitcoin is holding above $118,000, and trading volumes have increased by 32% to over $77 billion. While this outlook indicates continued interest in the market, analysts are debating whether the strong resistance level at $124,000 can be broken. The Latest on the Bitcoin RallySpot Bitcoin ETFs are the primary driver of this rally. Exceeding $150 billion in assets under management and daily inflows of hundreds of millions of dollars are creating a supply-squeeze effect in the market. For example, $741 million inflows were recorded into ETFs on September 11th. Such flows continue to support the Bitcoin price. However, it is emphasized that if inflows slow, the upside potential could be limited.On the macroeconomic front, the US Federal Reserve's (Fed) upcoming interest rate decision is the focus of markets. The unemployment rate rose to 4.3% in August, increasing the likelihood of a 25 basis point interest rate cut at the meeting on October 29th. Lower interest rates generally lead to a weakening of the dollar and increased demand for risky assets. Therefore, many analysts believe the Fed's policy could play a critical role in Bitcoin prices.Meanwhile, on-chain data shows that large investors (whales) continue their purchases. A single wallet was recorded to have accumulated approximately 1,721 BTC (approximately $196 million) in September. Long-term investors are reported to control 67% of the total supply. This trend could reduce market liquidity and push prices higher. However, whales' focus on profit-taking risks increasing volatility, as was the case during the 2021 peak. Ultimately, Citigroup's report suggests a stronger outlook for Ethereum driven by institutional investor interest, while cautious optimism prevails for Bitcoin. For the rest of the year, the Fed's interest rate action, whether ETF inflows slow down, and whale activity will be key factors in determining the crypto market's direction.
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2 Oct 2025
SEC Greenlights Crypto: State Trusts Grant Custody Authority
The U.S. Securities and Exchange Commission (SEC) has made a significant decision regarding digital assets. In a no-action letter, the agency announced that investment advisors can use state-licensed trust companies as "qualified custodians." This decision paves the way for institutional investors to store crypto assets like Bitcoin and Ethereum more securely and legally. A Solution to Long-Term UncertaintyFor years, one of the biggest challenges for investment advisors has been the uncertainty surrounding which institutions can hold digital assets. Traditional regulations have deemed only large federal banks and certain large corporations authorized for custody. The SEC's new approach allows state-licensed trust companies to offer the same custody services, provided they meet strict oversight and security requirements.This step allows advisors under the Investment Advisers Act of 1940 to hold crypto assets under regulated conditions, just as they do with cash and securities. However, companies must adhere to strict requirements such as cold storage, independent auditing, cybersecurity measures, and the separation of client assets from company funds.Initial Industry ReactionsBloomberg Intelligence analyst James Seyffart described the decision as "a textbook example of the clarity expected for the digital asset space." According to Seyffart, the industry has long been demanding this recognition. In the US, banks were indirectly pressured to limit their services to crypto companies in recent years during a process known as "Operation Choke Point 2.0." This new decision demonstrates a softening of the regulator's approach and their intention to integrate crypto into the financial system in more structured ways.Some states, such as Wyoming, had already pioneered similar regulations for crypto assets years ago. Senator Cynthia Lummis welcomed the SEC's move in a social media post, saying, "Wyoming was a pioneer in digital asset oversight in 2020. It's gratifying that the SEC has recognized this approach at this point." New Opportunity for Bitcoin and EthereumThe decision could facilitate institutional investors' access to cryptocurrencies. Bitcoin's positioning as "digital gold," in particular, is further strengthened by this development. Considering that gold is already a standard asset class in regulated funds, a similar inclusion of Bitcoin and Ethereum in portfolios seems more likely.Once the "custodial uncertainty," one of the biggest obstacles for institutions, is eliminated, investment funds and advisors are expected to be more comfortable investing in Bitcoin and Ethereum. This could, in the long run, contribute to accelerating ETF approvals, diversifying institutional strategies, and increasing market confidence.The SEC emphasized that the published letter is not a formal change in the law, but merely reflects the agency's current "enforcement position." Therefore, the decision is subject to revision if circumstances change in the future. Investment advisors are required to disclose risks to their clients and confirm annually that their custodian is authorized.
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1 Oct 2025
Historic Deadlock in the US: Government Shutdown! What's Awaiting Cryptocurrencies?
The US government has officially shut down due to an unresolved budget crisis. Weeks of negotiations between Republicans and Democrats have failed, and federal funding has been cut off as of midnight (6:00 a.m.) on Tuesday, September 30th. This development has created significant uncertainty not only for public services but also for financial markets.The White House Office of Management and Budget confirmed the shutdown in a statement released overnight. The statement alleged that Democrats were responsible, stating, "The duration of this unsustainable stance is uncertain, making it difficult to predict the duration of the shutdown." The Trump administration blames Democrats for the shutdown, while the opposition blames Republicans' failure to back down on health and social security policies as the cause of the crisis.Approximately 800,000 federal employees are expected to be furloughed. Essential services like border security, emergency medical services, air traffic control, and law enforcement will continue to operate. However, national parks, food inspections, student loans, research centers, and some social assistance programs will face cuts. As in previous shutdowns, some employees will be furloughed, while others will continue working without pay.Crypto ETFs in limboIt seems inevitable that this shutdown will impact the crypto markets. The U.S. Securities and Exchange Commission (SEC) accelerated the approval process for spot crypto ETFs in recent weeks. The individual review system previously used for Bitcoin and Ethereum ETFs was eliminated, replaced by "general listing standards." This change had led to expectations that popular altcoin ETF applications like Solana could be approved in October.However, with the government shutdown, the relevant divisions of the SEC suspended their operations. According to the SEC's published operating plan, the review of new applications, requests for comment, and no-action decisions will be suspended during the shutdown. Bitwise Investment Director Matt Hougan stated, "No approvals will be issued during the government shutdown," while Jason Allegrante, chief legal officer at Fireblocks, emphasized that this is a temporary disruption: "The demand is not going away. The process will resume when Washington reopens." US President Donald Trump, in a statement following the shutdown, blamed Democrats and declared, "We will not back down from this crisis." While the Trump administration has not yet provided a specific timeframe for how long the shutdown will last, past examples indicate that shutdowns have lasted an average of eight days.Nevertheless, a prolonged period could also put financial markets under pressure. Major crypto assets like Bitcoin and Ethereum are expected to experience particularly volatility, while the altcoin market could see sharper movements. Delays in the ETF approval process could also cause investors to reshape their short-term strategies.The Latest on Bitcoin and AltcoinsThe crisis in Washington has triggered rapid volatility in crypto markets. Market data at the time of the shutdown was as follows:Bitcoin (BTC): $115,167.64Ethereum (ETH): $4,147.69XRP: $2.85BNB: $1,010.32Solana (SOL): $210.18DOGE: $0.23355TRX: $0.3344 Bitcoin price remained positive or stable immediately after the shutdown announcements, but assets like Ethereum and Solana experienced sharper sideways or slightly negative movements. Previous government shutdowns in the US present different scenarios for the crypto market:In 2013, during a 16-day government shutdown, Bitcoin rose approximately 14%. However, during the longest lockdown, which lasted 35 days between 2018 and 2019, the BTC price was relatively bearish: it fell approximately 6%, from 3,802 to 3,575.These historical examples demonstrate that crypto markets do not follow a fixed direction during lockdowns. In some cases, upward pressure is generated, while in other periods, declines can occur due to risk perception.
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1 Oct 2025
SEC Puts Brakes on Company That Announces Bitcoin, Ethereum, and Solana Acquisition
The U.S. Securities and Exchange Commission (SEC) temporarily suspended trading in QMMM Holdings shares on September 29th following extraordinary price fluctuations. The Hong Kong-based company's announcement that it would create a $100 million cryptocurrency treasury sent its share price soaring; the shares quickly gained over 1,000%, catching regulators' attention.QMMM on SEC's radar: "Suspicious market activity" warningQMMM is traded on Nasdaq through a Cayman Islands-based holding company. The company's announcement of a large-scale investment in Bitcoin, Ethereum, and Solana has generated strong demand from individual investors. Analysts believe this development further demonstrates how the diversification of traditional companies into cryptocurrencies can cause sharp market volatility.The SEC announced that QMMM shares have been suspended until October 10th. The institution stated that manipulations made by "unidentified individuals" on social media unusually inflated share volume and price, increasing the likelihood of creating artificial demand. QMMM's shares, which were below $12 at the beginning of September, skyrocketed to $200 in the last week of the month. Experts say this scenario is reminiscent of manipulation tactics known as "pump and dump." The SEC and other US financial regulatory agencies (especially Finra) note that similar situations have increased recently, with unusual trading observed in some company shares ahead of crypto asset announcements.Investors are uneasy, the company remains silentQMMM has yet to issue an official statement. The company's shift from digital advertising to crypto assets earlier this year was interpreted as the first step in a strategic transformation. However, uncertainty prevails among investors following the trading halt.Market analysts suggest that such developments could temporarily curb the trend of institutional crypto treasury. The shift towards cryptocurrencies by mid-sized companies quickly creates significant individual buying waves; However, this also accelerates regulatory scrutiny.Institutional crypto adoption on the riseDespite this negative outlook, institutional crypto adoption continues to grow. According to current data, approximately 200 publicly traded companies worldwide hold over $112 billion in digital assets on their balance sheets. These companies' Bitcoin reserves exceed 1 million BTC, representing 4.7% of the total supply. Companies' total holdings of altcoins like Ethereum and Solana have also surpassed $10 billion. Analysts agree that while the QMMM example may create uncertainty in the short term, it will likely increase the use of cryptocurrencies in corporate treasuries in the long term. In addition to Bitcoin and Ethereum, alternatives like Solana are also expected to gain a greater presence in institutional portfolios.While the SEC's temporary trading ban on QMMM has caused market volatility, institutional interest is expected to remain strong. With tightening regulatory oversight in the coming period, companies may be required to conduct their crypto investments in a more transparent and controlled manner.
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30 Sep 2025
Bitcoin Whale Awakes After 12 Years, Makes 830x Profit
The resurgence of activity in wallets that have been dormant in the cryptocurrency market for a long time is attracting attention. Most recently, a Bitcoin wallet that had been dormant for 12 years made headlines on Sunday by transferring $44 million worth of assets to other addresses.According to data from the blockchain analysis platform Lookonchain, the wallet in question sent approximately 400 BTC to multiple addresses. Transactions were generally made in equal increments of 15 BTC, leaving the wallet completely empty. Arkham Intelligence's data indicates that this wallet was first funded by miners 15 years ago. However, it is unknown who transferred the funds or what the purpose of the transfer was. These old wallets, opened during Bitcoin's early years, known as the "Satoshi era," are being closely watched within the cryptocurrency ecosystem. This is primarily because these addresses likely belonged to early miners or market-leading investors. During this 12-year period of inactivity, Bitcoin's value increased approximately 830-fold. BTC, which was around $135 in 2012, is currently trading at over $111,000. This brings the value of these assets held in a single wallet to millions of dollars.Bitcoin whales are taking actionSimilar activity has been frequent in recent months. With Bitcoin reaching new record highs, millions of dollars in transfers are coming from wallets that have been dormant for a long time. In July, Galaxy Digital sold more than 80,000 BTC as part of the estate management of a Satoshi-era investor. The value of this sale exceeded $9 billion.A similar development occurred in September. A wallet that had been dormant for about 13 years moved 444 BTC (approximately $50 million). Earlier this month, a major investor flipped their portfolio, converting billions of dollars worth of Bitcoin into Ethereum and accumulating approximately $4 billion worth of ETH.According to experts, there may be different motivations behind these movements. Some believe that previous investors are profit-taking, while others suggest that the assets are being managed as part of inheritance or corporate strategies. However, wallet owners generally keep their identities secret, and the exact reasons behind the transfers remain unknown.While such transfers don't directly exert significant pressure on cryptocurrency prices, they are closely monitored by investors. This is because activity from older wallets can often be interpreted as a signal of a shift in market trends. The repeated activation of Satoshi-era wallets, particularly during periods of peak Bitcoin prices, is no coincidence.
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29 Sep 2025
Bitcoin Drops Below $109,000: All Eyes on US Inflation Data
Bitcoin fell below $109,000 ahead of US inflation data, unsettling investors. The Personal Consumption Expenditures (PCE) price index, which the Fed closely monitors, is seen as particularly important in reshaping market expectations for interest rate cuts. According to a Reuters poll, the data is expected to rise 0.3 percent monthly and 2.7 percent annually in August. The results will be released at 3:30 PM Turkish time.Uncertainty surrounding the US Federal Reserve's (Fed) interest rate decision throughout the week significantly weakened risk appetite in crypto markets. The volatile atmosphere following the FOMC meeting increased selling pressure on Bitcoin. According to market data, BTC fell below $109,000 within 24 hours, approaching a 6 percent weekly loss. Ethereum and many altcoins are also closing out the week with double-digit declines. The situation on the ETF front has also dampened investor spirits. Spot Bitcoin ETFs in the US recorded net outflows of approximately $258 million on September 25th. BlackRock's iShares Bitcoin Trust was the only fund to see limited inflows. Spot Ether ETFs also experienced net outflows of approximately $251 million on the same day, marking the fourth consecutive day of outflows for these funds.The futures market also felt the brunt of this selling wave. According to CoinGlass data, approximately $1 billion worth of crypto positions were liquidated in the last 24 hours. More than 225,000 investors liquidated, with the largest single transaction being a $19.3 million ETH/USDT position. This development revealed that the market is undergoing a significant cleanup process due to leveraged trading.According to experts, Bitcoin broke through short-term support levels, falling to $108,652, before making a limited recovery. While BTC was still up around 4.5% in September, October has historically been a positive month for BTC. However, he points out that a clear recovery cannot be confirmed until the price breaks the $113,500–116,000 range with strong volume.How are investors acting?Meanwhile, on-chain data suggests that institutional and large investors are also on the sell side. Since August 21st, whales have been net sellers, while long-term investors have been focused on profit-taking. This situation is increasing pressure on the spot market, while the daily fluctuation of ETF inflows and outflows has left the market directionless.All eyes are now on PCE data. A deviation from expectations could alter the Fed's year-end interest rate policy expectations, which could set a new direction for risky assets. While analysts emphasize that long-term trends and seasonality remain positive for crypto, they emphasize that caution is more important in the short term than aggressive buying.With this situation, the crypto market is focused on new signals from both macro data and investor behavior. Unless consistent inflows, particularly from ETFs, are seen, it appears unlikely that Bitcoin will mount a strong recovery. The primary strategies for investors appear to be capital preservation and risk management.
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26 Sep 2025
SEC and Finra Scrutinize Stock Transactions Ahead of Crypto Purchases
Financial regulators in the US have begun scrutinizing the stock movements of some publicly traded companies before they announce crypto asset purchases. According to the Wall Street Journal, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (Finra) are investigating unusual trading patterns at companies pursuing a digital asset treasury strategy.Authorities have identified striking trading volumes and price movements, particularly at publicly traded companies known as "Digital Asset Treasury Companies" (DATs), which have added cryptocurrencies to their balance sheets. The fact that these movements occurred shortly before the companies' official public announcements raises suspicions that they may be based on insider trading.The SEC has reportedly issued warnings to some companies about potential violations of Reg FD (Fair Disclosure). This regulation prohibits companies from sharing material, not yet publicly disclosed information only with certain investors. The aim is to ensure equal access to information for market participants. More than 200 companies contactedFinra and the SEC reportedly contacted approximately 200 DAT companies. The investigations focused on unusual trading volumes and sudden increases in share prices immediately preceding crypto acquisition announcements. Regulators believe such transactions could undermine market confidence and lead to manipulation.This development comes as companies are shifting to crypto treasury strategies. This trend, spearheaded by MicroStrategy since 2020, has been increasingly adopted by more companies in recent months. By holding assets like Bitcoin and Ethereum on their balance sheets, companies are diversifying their investments and aiming to capitalize on their long-term value growth.This year alone, DAT companies have attracted more than $20 billion in venture capital investment, demonstrating the institutional interest in crypto. Regulators, however, emphasize that this growth must occur within the framework of transparency and market fairness.MicroStrategy remains the largest institutional player in this space. The company, led by Michael Saylor, recently purchased an additional 850 Bitcoins, bringing its total reserves to 639,835 BTC. The total value of these purchases reached $99.7 million. The investigation launched by the SEC and Finra is seen as a sign that institutional investors' involvement in crypto assets will now be subject to stricter scrutiny, not only from a financial perspective but also from a regulatory perspective. As US companies continue to add crypto to their balance sheets, allegations of insider trading or unfair dealings are expected to increase.Therefore, publicly traded companies investing in crypto assets are expected to be more vigilant about their transparency obligations in the coming period. Otherwise, they could face both serious sanctions and the loss of investor confidence.
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26 Sep 2025