Bitcoin's price plummeted by 3.5% to $107,500, primarily driven by a wave of short-selling that added over $1 billion in bearish bets. This sell-off resulted in approximately $724 million in liquidations, with long positions accounting for 74% of the total wiped out, highlighting a significant shift in market sentiment. In the lead-up to this drop, Bitcoin's open interest increased by 2.3%, adding over $591 million in notional value. Despite the bearish pressure, spot buyers on platforms like Coinbase have been accumulating Bitcoin, indicating a potential divergence in market strategies.
Ripple has made headlines with its $1 billion acquisition of treasury management firm GTreasury, marking its third major purchase this year. This strategic move aims to streamline the management of digital assets for corporate treasuries, positioning Ripple as a key player in the growing market for corporate crypto management. Ripple's CEO emphasized that this acquisition would reduce friction and costs associated with outdated payment systems. The company is also planning to raise an additional $1 billion to bolster its XRP holdings, indicating a robust strategy to enhance its position in the cryptocurrency ecosystem.
Bitcoin's recent decline has been accompanied by a broader market sell-off, with the total market capitalization dropping by 3.1% to $3.85 trillion. Ethereum also faced pressure, falling 1.8% to approximately $4,000, while XRP dropped 4%, reflecting a general risk-off sentiment among investors. Additionally, nearly $6 billion in Bitcoin and Ethereum options are set to expire, further contributing to market jitters. Traders are bracing for potential downside as bearish bets surge, with a put-to-call ratio of 0.83 indicating heightened caution in the derivatives market.
Whale activity has intensified as institutional investors position themselves for potential rebounds. Ethereum whales have reportedly bet $417 million on a price recovery, suggesting confidence in the asset's long-term value despite recent volatility. Moreover, Bitcoin's recent price movements have prompted discussions about potential recovery strategies, with significant purchases totaling $102.5 million being noted. This accumulation by large holders may indicate a strategic response to the current market conditions.
Bitfarms has increased the size of its convertible notes offering to $500 million from $300 million announced a day earlier.
Andreessen Horowitz's crypto wing invested $50 million in key Solana infrastructure provider Jito in a strategic private token sale.
SharpLink’s pivot from online gaming has turned it into one of the largest public Ethereum treasuries, with more than 830,000 ETH.
Framework led the $15 million equity raise with participation from A16z crypto, Lerer Hippeau, M13, and Coinbase Ventures.
Move positions Kraken to launch fully regulated U.S. derivatives markets under CFTC oversight, expanding its onshore reach.
Eric Trump announced that the Trump family's crypto ventures have generated over $1 billion in pre-tax profits, primarily from NFT trading cards, meme coins, and other crypto businesses. This significant financial success comes amidst ongoing scrutiny regarding potential conflicts of interest related to President Trump's involvement in the crypto space. The family's ventures have become a focal point for discussions surrounding the intersection of politics and cryptocurrency, particularly as they coincide with Trump's potential return to the White House.
Dogecoin is experiencing a significant sell-off, with whale wallets offloading approximately 360 million DOGE, valued at around $74 million. This trend coincided with a broader market downturn triggered by external factors, including a recent announcement of a 100% tariff on Chinese imports. Despite this bearish sentiment, Dogecoin has shown resilience by bouncing off a key trend line, currently holding steady at $0.20. Analysts suggest that if DOGE can clear the $0.22 resistance, it may initiate a rally towards $0.45, but continued selling pressure from large holders could push prices down to $0.14 or lower.
Ethereum has seen a surge in developer interest, attracting over 16,000 new developers in the past nine months, indicating a robust ecosystem growth. This influx of talent comes at a time when Ethereum is facing bearish signals, with historical data suggesting potential price drops of 46% to 60% following similar patterns. Meanwhile, Google’s Gemini AI has forecasted that XRP could reach $10 by the end of 2025, reflecting a bullish outlook for the asset as it continues to gain traction in the market.
Florida lawmakers have proposed a bill to integrate Bitcoin into the state's investment strategy, potentially allowing the allocation of up to 10% of specific funds into Bitcoin and other digital assets. This initiative positions Florida as a frontrunner in the U.S. for managing digital assets within public reserves, reflecting a growing trend among states to embrace cryptocurrency as a legitimate investment vehicle. The bill aims to enhance the state's financial strategy by incorporating digital assets, which could lead to increased adoption and market participation.
The Ethereum Foundation has made a significant investment by depositing 2,400 ETH and approximately $6 million in stablecoins into Morpho's yield-bearing vaults. This move underscores the foundation's commitment to supporting open-source and permissionless decentralized finance (DeFi) infrastructure, which is crucial for the ongoing development of the Ethereum ecosystem.
Babylon Labs has launched a new system that allows users to utilize native Bitcoin as collateral for borrowing on Ethereum without relying on centralized intermediaries. This innovative mechanism, powered by BitVM3 technology, aims to secure Bitcoin in cryptographically verified vaults, thereby integrating Bitcoin into the DeFi space more effectively.
Ethereum continues to lead the blockchain development landscape, attracting over 16,000 new developers in 2025, according to data from Electric Capital. This growth reinforces Ethereum's position as the most actively developed blockchain, supported by an expanding network of layer-2 solutions. In contrast, Bitcoin attracted around 7,500 new developers during the same period, indicating a significant disparity in developer engagement across these ecosystems.
The G20's Financial Stability Board has highlighted major regulatory gaps in the cryptocurrency landscape, particularly concerning stablecoins. This warning comes amid a $4 trillion market surge, with Bitcoin trading near $108,700. The call for unified global oversight is seen as a positive step towards establishing clearer standards for cryptocurrency regulation, which could influence market dynamics moving forward.
In 2025, cryptocurrency projects have committed over $1.4 billion to token buybacks, with Hyperliquid leading the charge at approximately $645 million. This trend suggests a growing confidence among projects in their long-term viability and market position, as they seek to enhance token value and reduce circulating supply.
Visa's recent report indicates that stablecoins have facilitated $670 billion in lending over the past five years, with average loan sizes increasing from $76,000 to $121,000. The report emphasizes that USDC and USDT are the dominant players in the stablecoin lending space, reflecting their combined share of the $307 billion total stablecoin market. However, the International Monetary Fund (IMF) has raised concerns about the potential risks associated with the rapid growth of stablecoins, warning that it could lead to excessive risk-taking and vulnerabilities within the financial system.
California has enacted a new law that prevents the immediate sale of abandoned Bitcoin by the state, which may facilitate the recovery of lost assets for individuals and reduce the burden on cryptocurrency exchanges. This legislative change aims to create a more favorable environment for Bitcoin recovery efforts, potentially impacting how lost cryptocurrencies are handled in the state.
Discussions between South Korea and the United States regarding foreign exchange (FX) issues tied to a $350 billion fund remain unresolved. The lack of agreement could have implications for international financial relations and market stability, particularly in the context of global economic conditions.
The US government used an unknown exploit to seize Bitcoin wallets, impacting 220,000 wallets, many of which are still active. The assets seized amounted to $15 billion in Bitcoin, taken from a known heist in 2020. The method of obtaining the private keys was revealed by a DeFi developer, raising concerns that hackers could target these vulnerable addresses.
Five men aged between 21 and 37 were arrested on October 1 on suspicion of conspiracy to commit fraud. Police reported that victims may have lost more than £1 million (approximately $1.3 million) through fake cryptocurrency schemes. The suspects have been bailed pending further enquiries as the investigation continues.
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