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Tag: Bitcoin

  • Binance Data: Rate-Cut Sell-Off Came From Short-Term Traders

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    Spent Output Age Bands (SOAB) data confirmed that the recent panic selling came from “hot money,” not diamond hands.

    When the U.S. Federal Reserve cut interest rates on October 29, the price of Bitcoin (BTC) dropped sharply, prompting traders to send more than 10,000 BTC to Binance and raising questions about whether it was a “sell the news” event or the start of a new crypto winter.

    But a CryptoQuant analyst has now released new information that shows that most of the selling was done by one group: traders who had only held their Bitcoin for less than a day.

    The Real Story in the Data

    Bitcoin’s price dropped after the Fed announced it would cut rates by 0.25%, going from about $112,000 to a weekly low of around $106,500 per CoinGecko. This reverberated around the whole crypto market, causing more than $1.1 billion in trading positions to be closed.

    The initial evidence pointed to a bearish turn, a feeling made even more believable when data showed that thousands of BTC went into Binance on October 30, something that usually happens before a sale.

    However, market technician CryptoOnchain shared crucial context coming from a specific on-chain metric known as Spent Output Age Bands (SOAB). This tool sorts Bitcoin transactions based on how long they had been sitting still before they were moved. His research showed that 10,009 BTC of the October 30 Binance inflow came only from units that had been held for less than 24 hours.

    “This is the signature of ‘hot money’—short-term traders and speculators reacting instantly to the news,” the expert stated.

    His report went further to emphasize the clear divide with long-term investors, noting:

    “In stark contrast, the inflow from Long-Term Holders (coins aged 6+ months) was negligible. The market’s ‘diamond hands’ stood firm.”

    This divergence proves that the selling pressure did not come from the foundational investor base that has accumulated Bitcoin over the years. Instead, it was driven entirely by the most reactive participants, those who buy and sell based on hourly headlines.

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    A Pattern of Short-Term Panic

    This behavior fits a pattern noted by another analyst, Amr Taha, who pointed out that short-term traders on Binance sold about $1 billion worth of Bitcoin on October 30. Their activity coincided with huge outflows from spot Bitcoin ETFs the day before, including large withdrawals from funds managed by BlackRock and Fidelity.

    According to Taha, this combination of selling from exchange users and ETF investors has historically been a sign of a local market bottom forming from panic, rather than the start of a prolonged downturn.

    At the time of writing, the flagship cryptocurrency was down 0.9% in the last 24 hours to trade at around $109,725. The price also reflects a drop of about 1% for the week and 4% for the month, even though BTC remains up more than 52% in the past year.

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    Wayne Jones

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  • Bitcoin ATMs enable cryptocurrency scams, federal prosecutor alleges

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    Diane Reynolds said she was caught off guard when someone contacted the Maryland retiree online and said access to her computer had been blocked for safety reasons. 

    “There was a voice message that was coming on with this that said, ‘Don’t turn your computer on, don’t turn your computer off,’” she told CBS News. 

    Reynolds was also instructed to call a phone number she was led to believe would provide her with tech support. Instead, she was connected to a scam artist who claimed that hackers had obtained access to her bank account. The only way to protect her money was to convert the funds into bitcoin, the person told Reynolds.

    She withdrew her entire bank account balance, which totaled $13,100, and followed the scammer’s directions to go to a bitcoin ATM at a nearby gas station. The ATM was operated by Athena Bitcoin, which has more than 4,000 such terminals across the U.S. 

    Washington, D.C., Attorney General Brian Schwalb said such incidents highlight the surge in cryptocurrency scams linked to bitcoin ATM providers, resulting in the theft of millions of dollars.

    “Bitcoin ATMs are a tool that scammers, that criminals, are using to separate people, including D.C. residents, from their hard-earned money,” Schwalb told CBS News. “Athena, as a bitcoin operator, knows that its kiosks are being used by this element, and yet [has] failed to put proper anti-fraud prevention systems in place to keep it from happening.”

    He added, “What makes it worse is they are profiting from this because they’re charging very substantial fees.”

    Schwalb in September filed a lawsuit against Athena, alleging that it charges “undisclosed fees on deposits that it knows are often the result of scams, and for failing to implement adequate anti-fraud measures.”

    In a statement to CBS News, Athena Bitcoin said it “strongly disagrees with the allegations” and that it will contest the charges in court.

    “We employ aggressive safety protocols to protect the financial interests of our customers. …Our kiosks employ multiple safeguards, from prominent warnings and daily transaction limits to five separate verification screens designed to stop coerced transactions,” the company said. 

    Reynolds is also suing Athena Bitcoin. Her attorney, Vaught Stewart, accused the company of “not just allowing the fraud to happen — they’re profiting from it.” 

    In Washington, D.C., Athena Bitcoin charged fees of up to 26% per transaction, while 93% of all deposits made through the company’s ATMs are linked to scams, Schwalb alleged in his suit. 

     For her part, Reynolds wants to help others avoid losing their savings. “Now I’m an advocate for just telling people this is real,” she said. “Be aware.”

    Financial scams connected to bitcoin ATMs are on the rise, according to the Federal Trade Commission. 

    The Better Business Bureau, which ranks crypto-related fraud as one of the most common types of financial scams, notes that fraudsters tend to target the senior population. 

    Claims from an unknown source that your computer has been hacked is one major tip-off that someone is trying to swindle you, according to the organization. 

    Edited by

    Alain Sherter

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  • Bitcoin Price Plunges as Crypto Traders Get Nervous About Future

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    Bitcoin plunged over 4% on Thursday, falling as low as $106,290, as crypto traders reacted to signals from both the Federal Reserve and President Donald Trump. In short, crypto world seems nervous about the future.

    Bitcoin hit a record high of $125,245 on Oct. 5, prompting many crypto optimists to make wild predictions that it could just continue to go up forever. But that line of thinking hasn’t worked out in recent weeks, especially after a flash crash two weeks ago that wiped out billions.

    The Federal Reserve announced interest rate cuts Wednesday, setting the benchmark short term rate between 3.75% and 4%, which the Wall Street Journal notes is the lowest in three years. That’s exactly what President Donald Trump had been asking for, as he’s pestered Powell to lower interest rates ever since the president’s second term started back in January.

    Traders liked the cuts, but Federal Reserve chair Jerome Powell made some on Wall Street uneasy when he signaled that another rate cut was no guarantee when the Fed met again in December. “Far from it,” Powell said.

    President Trump’s meeting with Chinese leader Xi Jinping also weighed on crypto sentiment Thursday. Trump announced that tariffs on goods coming to the U.S. from China would be lowered, but they’re coming down just 10% from 57% to 47%.

    Trump has been seen by the crypto community as a positive force, making radical changes that have included scrapping the National Cryptocurrency Enforcement Team (NCET) at the Department of Justice which investigates crypto-related crimes. Typically, any market with honest brokers likes to have a cop on the beat to keep things fair and catch bad actors. But Trump is operating from a different perspective, allowing bad actors to flourish under an operating theory that might be known as “who gives a fuck, get yours.”

    Trump has also pardoned high-profile people convicted of crypto-related crimes, including Silk Road founder Ross Ulbricht and most recently Binance founder Changpeng Zhao. While Zhao had already served his prison sentence, the pardon means that he probably won’t need to pay the $50 million he owes in restitution.

    Bitcoin’s price has recovered somewhat since its low for the day, bouncing back to $107,900 at the time of this writing. But that’s still down over 5% from where it was a month ago. Compared over a longer period of time, it certainly looks better. A year ago, bitcoin was trading at $68,500, a period just before the 2024 presidential election.

    Other cryptocurrencies also plunged Thursday, with Ethereum down 4.3%, BNB down 4%, XRP down 6.7%, and Solana  down 6.3%.

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    Matt Novak

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  • Bitcoin Supply Shock Brewing as Binance Reserves Hit Lows

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    Despite bullish scarcity signs, Binance’s Whale Ratio rose to 0.41, hinting large holders may be preparing to sell.

    Bitcoin’s available supply on the world’s largest crypto exchange is shrinking quickly.

    This deepening scarcity, one of the most pronounced readings in months, comes as data suggests large-scale investors are accumulating the asset, setting the stage for a potential supply squeeze.

    Conflicting Signals from Large Holders

    Data from October shared by Arab Chain shows that Binance’s Bitcoin Scarcity Index moved upward through the month, jumping sharply in late October to exceed a reading of 9. This index is a direct measure of the reduction in Bitcoin supply available for immediate trading on the exchange.

    In simple terms, a rising index means the amount of Bitcoin sitting on Binance that is available for purchase is gradually falling. The analytics platform clarified that this typically points to an accumulation phase, where large investors and whales are buying and withdrawing BTC from Binance, effectively taking them off the market.

    “This is generally considered a positive long-term signal that supports the likelihood of continued upside in the medium term, despite short-term price fluctuations, as buyers appear to be racing to acquire Bitcoin in the market,” noted Arab Chain.

    The assessment also pointed out that such supply drops are often linked to positive news or sudden capital inflows. However, it also presented a critical caveat: scarcity alone cannot push prices higher. For a major price increase to occur, this limited supply must be met with genuine new demand from an increasing number of buyers.

    Still, this positive accumulation signal is not the only story. Another metric tells a different tale. The 7-day average of Binance’s Exchange Whale Ratio has also climbed steeply, rising from around 0.33 on October 12 to approximately 0.41 between October 22 and 25.

    This ratio measures large deposits to the exchange, and such a sustained increase has historically indicated that major holders are preparing to sell, creating a wall of supply that can slow or reverse a price rally. It creates a complex picture where one set of data suggests holding, while another points toward potential selling.

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    Broader Market Trends

    The movement of coins off exchanges is not solely about whales holding in private wallets. A growing trend shows that some large BTC holders are shifting their assets into spot Bitcoin ETFs like those from BlackRock.

    These “in-kind” transfers allow whales to swap their Bitcoin for ETF shares without creating a taxable event, a process that could act as another drain on the liquid supply available on crypto exchanges.

    Meanwhile, in the market, BTC was priced at $110,232 at the time of writing, dipping from the $111,400 level it was trading at yesterday, when the U.S. Federal Reserve announced its second consecutive interest rate cut. While it’s up 1.2% over seven days, the 30-day view shows a 3.4% decline, and it remains more than 12% below the new all-time high past $126,000 it attained in early October.

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    Wayne Jones

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  • Michael Saylor’s Strategy returns to profitability in third quarter | Fortune Crypto

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    Bitcoin accumulator Strategy Inc. returned to profitability in the third quarter, with results bolstered by an unrealized gain tied to the rising value of the company’s roughly $69 billion cryptocurrency stockpile. 

    Net income was $2.8 billion, or $8.42 a share, compared with a loss of $340 million, or $1.72 in the year-ago period, the Tysons Corner, Virginia-based firm said in a statement Thursday. The company, formerly known as MicroStrategy, adopted accounting standards in January that required it to include the fair value of its Bitcoin holdings in its earnings. The change triggered multibillion dollar swings between profits and losses in the the previous two quarters. 

    The company said in the statement that it is “actively laying the groundwork for credit securities in international jurisdictions.” Strategy’s shares fluctuated in after-hours trading. 

    Even though Bitcoin reached a record high during the third quarter and dozens of public firms copied the treasury company model cofounder and chairman Michael Saylor pioneered five years ago, investors have begun to question the tactic. Shares of Strategy have tumbled around 45% since the stock closed at a record high last November, erasing much of the premium the shares long enjoyed over its Bitcoin holdings for the past few years.

    The company was a modest enterprise software firm until 2020, when Saylor jolted Wall Street by shifting money into Bitcoin. The stock ceased trading on earnings potential and began trading on a multiple of its underlying Bitcoin holdings—known as mNAV. After trading at more then two times that multiple at times, the mNAV has shrunk to around 1.3. 

    At the center of the concern is the firm’s financing methods. Strategy’s preferred stock—billed as its main vehicle for future Bitcoin purchases—has drawn tepid demand. Recent sales have fallen well short of Saylor’s ambition for blockbuster capital raising, prompting a slowdown in the pace of Bitcoin purchases in recent weeks. 

    Following the release of second-quarter results in July, Strategy pledged it won’t issue new common shares at less than 2.5 times its net asset value, except to cover debt interest or preferred dividends. At the same time, Saylor said he would keep tapping the market “opportunistically” when the premium is high, turning equity sales into fresh Bitcoin buys. Despite seeking to reassure shareholders, the firm subsequently sold more common shares. 

    Revenue from the company’s legacy enterprise software business rose 11% to $128.7 million, above the $116.8 million average forecast of analysts surveyed by Bloomberg. 

    On the new Fortune Crypto Playbook vodcast, Fortune’s senior crypto experts decode the biggest forces shaping crypto today. Watch or listen now

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    David Pan, Bloomberg

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  • Bitcoin Struggles To Hold Key Support: Could $88,000 Be Next?

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    Bitcoin has struggled to reclaim the short-term holder Realized Price, a key on-chain level. Here’s where the next major support line lies for the asset.

    Bitcoin Has Again Dipped Below STH Realized Price

    In its latest weekly report, on-chain analytics firm Glassnode has discussed about some key Realized Price levels for Bitcoin. The “Realized Price” here refers to an indicator that measures the cost basis of the average investor or address on the BTC network.

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    When the metric is trading above the asset’s price, it means the holders as a whole are sitting on a net unrealized profit. On the other hand, it being below the spot BTC value implies the dominance of loss on the blockchain.

    The Realized Price of the entire network is generally not useful, as often, the cryptocurrency’s price trades significantly over it. The reason behind this lies in the fact that a notable part of the asset’s supply has been dormant for years, possessing a cost basis far below today’s price.

    In fact, a chunk of this dormant supply will never return to circulation, as the wallets holding such tokens have had their keys become permanently inaccessible. To account for this, Glassnode came up with the “Active Realized Price,” a metric that only tracks the cost basis of the supply that can be considered economically active.

    Below is the chart shared by the analytics firm that shows how the Realized Price and Active Realized Price of Bitcoin have changed since the last bull market.

    The price of the coin seems to be above both of these lines at the moment | Source: Glassnode’s The Week Onchain – Week 43, 2025

    As is visible in the graph, Bitcoin last interacted with the Realized Price in 2023. Since finding a rebound at it back then, the coin has only moved away from the line.

    The cryptocurrency has been trading much closer to the Active Realized Price since breaking above it in late 2023, but even in its case, the gap is still notable. A version of the indicator that BTC regularly interacts with, however, is the third type listed on the chart: the short-term holder cost basis.

    Short-term holders (STHs) refer to the Bitcoin investors who purchased their coins within the past 155 days. This cohort represents the recent buyers, who can be reactive to changes in the market.

    The Realized Price of the group, which is often considered a divider between bullish and bearish trends, is currently located at $113,100. Bitcoin first fell below this mark during its crash earlier in the month, but the recovery surge took it back above the line. Though the latest retracement has once again brought the asset under it.

    “Over the past two weeks, Bitcoin has struggled to close a weekly candle above this key level, raising the risk of further weakness ahead,” noted Glassnode. The next on-chain support level is the Active Realized Price, currently valued at $88,000.

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    It now remains to be seen whether BTC can recover above the STH Realized Price, or if a deeper correction is coming.

    BTC Price

    Bitcoin has fallen by nearly 3% during the past day, with its price coming down to the $109,900 level.

    Bitcoin Price Chart
    The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView

    Featured image from Dall-E, Glassnode.com, chart from TradingView.com

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    Keshav Verma

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  • The $460 Billion Quantum Bitcoin Treasure Hunt

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    Earlier this month, researchers claimed a major breakthrough had occurred for quantum computing in terms of proving a verifiable advantage over traditional computers. This was then followed up by Google last week, who claimed to show the first practical application of their quantum technology through the combination of its Willow chip with the Quantum Echoes algorithm.

    Quantum computing is something that can be difficult to grasp, but a key area of importance in terms of this technology’s potential impact on the world is its theoretical ability to break much of the encryption that secures basically everything on the internet today. And yes, that includes Bitcoin.

    In fact, Bitcoin has enabled a massive financial incentive to develop the first sufficiently-powerful quantum computer. Many of the early addresses (basically the equivalent of an account) on the Bitcoin network are secured via encryption that is vulnerable to attack from a quantum computer that is powerful enough, which is why there have already been discussions around how the Bitcoin network more generally can be upgraded to guard against this sort of threat.

    These early Bitcoin addresses, including many that have been connected to Bitcoin creator Satoshi Nakamoto, may also be associated with private keys (passwords to the Bitcoin accounts basically) that are lost or otherwise not accessible to anyone. In other words, they’re sort of like lost digital treasure chests that a quantum computer could potentially unlock at some point in the future.

    Someone with a sufficiently-powerful quantum computer could be able to find the private keys for these addresses by breaking the encryption associated with them. And at current prices, we’re talking about a $460 billion treasure chest of vulnerable bitcoin, according to a previous report from Deloitte.

    Bitcoin itself is not yet vulnerable to quantum computing attacks today, as those computers simply do not yet exist. Additionally, there is already at least one Bitcoin Improvement Proposal (BIP) associated with the quantum threat that would allow bitcoin wallets to preemptively upgrade their software and then quickly push for a soft fork in the case of a security crisis.

    While there is no set-in-stone plan to upgrade Bitcoin to quantum-resistant or completely quantum-secure addresses quite yet, it’s also unclear if or when such an upgrade will actually be necessary. That said, plans and proposals are already being put together to deal with this threat that is still, at this point, strictly theoretical. However, this would be a rare instance where a change to the Bitcoin network’s ruleset is not optional, at least practically speaking, as users would be leaving their coins open to theft by not upgrading.

    In terms of a timeline of when this could become an issue for Bitcoin, experts have generally come to consensus around a timeline of some point in the 2030s.

    For now, the early Bitcoin addresses that are most vulnerable to the quantum threat are referred to as “Satoshi’s Shield” because they could operate as a canary in the coalmine of sorts in terms of the development of a sufficiently powerful quantum computer to break the encryption in Bitcoin and many other online systems.

    https://x.com/cryptoquick/status/1866826898652991844

    Of course, based on bitcoin’s past performance, the current treasure of $460 billion worth of bitcoin could easily grow to more than $1 trillion by the time a sufficiently-powerful quantum computer is built. That said, the way this process would likely unfold would be a large number of smaller treasure chests being unlocked over time rather than a single attacker gaining access to one large chest holding all of that bitcoin. In other words, the cracked bitcoin wouldn’t necessarily all be found at once by the same entity.

    Obviously, it should also be noted that some of this vulnerable bitcoin could be moved to less-vulnerable, already-available address types or yet-to-be-enabled, quantum-resistant addresses by the time the clock strikes midnight on the quantum threat. But again, it’s also likely that the private keys associated with a large amount of early bitcoin are simply forever lost.

    Existing quantum computing startups and projects are obvious candidates for being the ones to crack Satoshi’s early Bitcoin addresses, and some Bitcoin users have even claimed that this is something the U.S. government should get involved with as a sort of new Manhattan Project for the digital age. Notably, the Trump administration is currently in talks related to U.S. government investment in a few quantum computing companies, according to The Wall Street Journal.

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    Rhett Jones

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  • Crypto’s Biggest Wipeout Sends Traders Flocking to Spot Markets

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    Bitcoin’s October spot trading hit $300B, the year’s second-highest, as traders fled leverage after $19B in losses.

    Bitcoin’s spot trading volume in October was over $300 billion, making it the second-highest monthly total of the year, pushed by traders getting out of leveraged positions after the record-breaking liquidation on October 10.

    CryptoQuant analyst Darkfost says the switch from high-risk derivatives to spot trading shows that speculation is cooling off and people are focusing on long-term accumulation again.

    A Costly Lesson in Leverage

    According to the market technician, Binance had the most BTC spot trades this month, with $174 billion, in a show of the exchange’s continued dominance. They also pointed out that the increased activity on the spot side was coming from both retail traders and institutional players.

    The retreat follows the biggest single-day liquidation in crypto history on October 10, when more than $19 billion in leveraged positions were lost. During the crash, Bitcoin dropped from $122,000 to as low as $101,000 (on some exchanges), dragging altcoins into double-digit losses and forcing more than 1.6 million traders to sell.

    It started when U.S. President Donald Trump threatened new tariffs on China, which made geopolitical tensions rise and caused mass liquidations on derivatives exchanges. Data from CoinGlass showed that long traders lost the most money, almost $17 billion. One trader is said to have lost $19 million on Hyperliquid, while a few whales made money by shorting the market just before it crashed.

    The market has been trying to stabilize since then. Bitcoin is now worth $110,800, about 2% less than it was 24 hours ago but 1.2% more than its value from seven days ago. This week, the price of the asset has been tight, moving between $108,000 and $116,000, potentially meaning that things are getting calmer after a month of turmoil.

    Navigating a New Market Reality

    Despite the spot trading revival, analysts are warning that the current bounce may be fragile. As reported by on-chain firm Santiment, retail traders are showing heightened optimism, with many rushing to “buy the dip.” It cautioned that such behavior often comes before more declines, as true accumulation usually occurs when sentiment turns pessimistic.

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    Furthermore, market experts like Ali Martinez have also flagged caution signals. He pointed out that the TD Sequential indicator has flashed another potential sell warning, with concerns persisting over tight global liquidity despite the Federal Reserve’s recent 25-basis-point rate cut. That policy move, rather than lifting markets, caused another $700 million in liquidations.

    Even so, October’s historic shift toward spot trading paints a different picture, one where traders, scarred by leverage-induced losses, are opting for direct Bitcoin ownership and more stable participation. If this trend holds, Darkfost says it could mark the start of a healthier market foundation, where genuine demand rather than excessive leverage shapes crypto’s next phase.

    “A market driven more by spot trading rather than derivatives is generally healthier, more stable, as it less vulnerable to extreme volatility driven by excessive open interest expansion,” wrote the analyst. “It also reflects stronger organic demand and greater overall market resilience.”

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    Wayne Jones

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  • Whale Wars: Bulls and Bears Battle for Control on Hyperliquid

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    Lookonchain data shows whales rapidly reshuffling trades amid heightened volatility across BTC, ETH, and SOL.

    This week, the crypto market saw more selling pressure as Bitcoin (BTC) fell below $115,000, causing a tug-of-war between bullish and bearish traders on Hyperliquid.

    Lookonchain’s new whale data shows that top traders are changing their positions in what looks like one of the most intense battles between bulls and bears this month.

    Whales Shuffle Positions as Market Turns Choppy

    According to the on-chain tracker, a group of well-known investors on Hyperliquid have been actively reshuffling their positions during the downturn. On one side, some traders who have done well in the past are keeping big, positive positions, while others are getting ready for the market to drop even more.

    Lookonchain revealed that 0xc2a3, known for having a perfect win rate, closed 2,186 BTC longs worth about $256 million. Even though the anonymous speculator had a lot of exposure, they only made $1.4 million in profit. Additionally, after weeks of making aggressive long trades, they also cut back on their positions in Ethereum (ETH) and Solana (SOL).

    Meanwhile, Machi Big Brother, who was up $44.8 million in realized gains, is now down $12.5 million after doubling down on new ETH and HYPE longs. Another whale, 0xf625, who made $8.3 million during the market crash on October 11, has started shorting ETH again, adding new 10x positions in two wallets in the last 24 hours.

    Market participant 0xddc7, who has an 80% win rate, is said to be losing more than $3.3 million on paper on his short position. However, influencer and public trader James Wynn may be the most cautionary tale. Lookonchain says that almost every recent position he has had has ended in liquidation, including a 40x short on Bitcoin. The analytics platform teased followers on X to “always take the opposite side of James’s trades,” reflecting how increasingly skeptical the community is becoming of his strategies.

    This flurry of repositioning comes after Bitcoin did well, rising past $115,000 following news of a possible trade breakthrough between the U.S. and China lifted risk sentiment. That jump wiped out more than $370 million in short positions and brought the total market cap of all cryptocurrencies back above $4 trillion.

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    Analysts See a Market Reset Rather Than a Breakdown

    Despite the latest retreat, several analysts remain optimistic about the market’s medium-term outlook. Crypto analyst Michaël van de Poppe previously suggested that the altcoin sector has been in a downtrend for nearly four years, which he described as its longest-ever difficult period. But he and other experts say that technical indicators show this phase may be coming to an end, meaning a big price recovery may be on the way.

    Lookonchain’s whale data backs up this mixed narrative, with some big holders locking in profits or taking defensive short positions, and others, like 0xc2a3, building long orders near key support levels, which suggests that they may be banking on the pullback not lasting for too long.

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    Wayne Jones

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  • Evernorth Has Reached 95% Of Its XRP Treasury Target – Here Are The Numbers

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    Evernorth has emerged as the latest powerhouse in institutional crypto accumulation, closing in on its ambitious XRP treasury goal. In just a few days, the firm has reached 95% of its accumulation target, marking a major milestone in XRP’s journey toward broader institutional adoption. The rapid growth of Evernorth’s reserves and its strategic partnerships has sparked renewed excitement across the XRP community, signaling what could be a pivotal shift in how institutions engage with the cryptocurrency. 

    Evernorth Nears $1 Billion In XRP Holdings

    A new report from CryptoQuant has revealed that Evernorth’s XRP holdings is now nearing the $1 billion funding milestone, positioning it among the top institutional holders of the cryptocurrency. According to JA Maartunn, a community analyst at CryptoQuant, Evernorth currently holds 388,710,606.03 XRP, reaching 95% of its $1 billion target. 

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    The company’s total XRP treasury is now valued at approximately $947,183,571, with unrealized profits of roughly $46 million generated in four days. This figure reflects an average purchase price of $2.44 per XRP, which Maartunn believes could become a defining price level for the cryptocurrency’s market trajectory.

    Source: Chart from Evernorth on X

     Notably, Evernorth’s XRP treasury comes amid a broader trend of institutional diversification toward digital assets. Earlier this year, several major crypto treasury institutions—most notably Strategy, with its aggressive Bitcoin accumulation strategy, and The Ether Machine, with its dedicated focus on Ethereum—set the tone for large-scale crypto accumulation. 

    Evernorth’s expanding holdings signal a decisive shift beyond BTC and ETH, underscoring a maturing institutional demand for alternative layer-1 assets. It also suggests that XRP may become the next frontier for institutional treasuries seeking exposure to high-liquidity, regulated crypto assets.

    Evernorth’s XRP Growth Strategy 

    Asheesh Birla, the CEO of Evernorth, introduced the treasury company last week, on October 20, through an X post. He described it as an institutional vehicle built to propel XRP’s global adoption. The announcement detailed the company’s plans to go public through a SPAC merger with Armada Acquisition Corp II (NASDAQ:AACI), targeting gross proceeds of more than $1 billion.

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    Evernorth’s growth strategy includes acquiring XRP through innovative financial structures designed to maximize XRP per share and expanding internationally into key markets like Japan and South Korea. The company also plans to diversify its yield generation through risk-mitigated treasury deployment. These initiatives reflect a deliberate, structured approach toward building a long-term institutional presence around XRP.

    Ripple CEO Brad Garlinghouse has also praised Birla’s initiative, noting Ripple’s partnership and investment alongside prominent firms such as SBI Holdings, Pantera Capital, Kraken, GSR, and Rippleworks. Garlinghouse said that Evernorth’s participation in institutional lending, liquidity provision, and DeFi yield opportunities will be instrumental in expanding XRP’s utility. Ripple’s CTO, David Schwartz, who joins Evernorth as a strategic advisor, echoed this sentiment, expressing enthusiasm for building scalable opportunities for XRP across DeFi and capital markets.

    XRP
    XRP trading at $2.65 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

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    Scott Matherson

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  • Bitcoin Poised For New Run Beyond $125,000? Nasdaq’s Record Recalls 2021 BTC Pattern

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    The second part of the year has seen a notable surge in the US stock market, while Bitcoin (BTC) and the broader cryptocurrency market has faced its share of uncertainty and significant corrections. 

    With the Nasdaq recently surpassing the 26,000 mark, leading analysts are now suggesting that this milestone could be a clear indicator for Bitcoin to finish the year at new highs.

    What Historical Patterns Indicate

    According to experts at The Bull Theory, the pattern observed with the Nasdaq reaching all-time highs typically suggests a flow of liquidity, an increased risk appetite, and a shift of capital into growth assets. As this phase develops, it often sets the stage for Bitcoin’s next significant movement.

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    Data compiled by the analysts supports this assertion. Historically, in the first 30 days following a Nasdaq all-time high, Bitcoin has averaged a gain of approximately 7%. This return tends to grow, reaching about 14% within 60 days and climbing to an average of 25% by the 90-day mark. 

    The daily chart shows BTC’s price volatility. Source: BTCUSDT on TradingView.com

    This pattern is not merely coincidental; it reflects a capital rotation where liquidity does not disappear but instead shifts from traditional markets into higher-risk assets like Bitcoin. 

    The current situation appears to follow a similar trajectory. The Nasdaq’s rise to 26,000 indicates a wave of liquidity building beneath the surface. With rate cuts beginning and quantitative tightening coming to an end, global capital is once again seeking yield. 

    This scenario mirrors the conditions that contributed to Bitcoin’s significant breakouts in previous years, particularly in 2017, 2020, and 2023.

    As such, the analysts note that the next four to five months may represent an acceleration phase for Bitcoin, coinciding with a potential pause in equities, which could lead to crypto becoming the primary outlet for liquidity. 

    Bitcoin Poised For Breakout Similar To 2020-2021 Cycle

    Analysts like Ash Crypto also noted on social media that the BTC/NASDAQ weekly chart is revealing a repeating pattern reminiscent of the 2020-2021 cycle, during which Bitcoin significantly outperformed traditional tech stocks. In both cycles, the October to March timeframe has historically prompted major upward movements. 

    Related Reading

    After a period of consolidation within a rising wedge, the BTC/NASDAQ pair appears poised for another breakout. Should this pattern repeat, Bitcoin may see substantial gains compared to the Nasdaq in the fourth quarter and into early 2026, Ash Crypto noted. 

    Bitcoin
    BTC/NASDAQ weekly chart showing similar bullish pattern to previous cycles. Source: Ash Crypto on X

    Notably, this sets the stage for a major rally that could see Bitcoin prices surpassing current records of over $126,000. However, the market is still characterized by increased volatility, and there is no clear path ahead for BTC.

    The leading cryptocurrency is trading at $113,350 after a 2% correction in Tuesday’s trading session, following an initial surge above $115,000. This puts BTC 6.5% below record highs. 

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

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    Ronaldo Marquez

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  • Donald Trump’s Truth Social Is Launching a Polymarket Competitor

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    “If you had to point to one reason [crypto prediction markets] are able to come back to the US, you have to point to the Trump administration,” says Zach Hamilton, founder of crypto startup Sarcophagus, in an interview with WIRED. “Donald Trump. I mean, that’s it.”

    Even before the arrival of Truth Predict, the Trump family had a financial interest in the spread of prediction markets in the US.

    In January, Donald Trump Jr. joined Kalshi as a strategic adviser. Then, in August, Polymarket received an investment from 1789 Capital, a venture capital firm where Trump Jr. serves as a partner. As part of the deal, Trump Jr. joined Polymarket’s advisory board.

    The ties between the Trump family and Polymarket, forged just as Polymarket was seeking reentry into the US, have drawn scrutiny from critics who claim the investment could amount to a conflict of interest. The deal creates an opportunity, they allege, for the Trump family to profit from changes in policy instigated by the Trump administration.

    “No one is saying members of the president’s family cannot engage in normal capitalist activities in a capitalist country,” says Jeff Hauser, executive director at the Revolving Door Project, an organization that seeks to scrutinize the behavior of elected officials. “But Polymarket is the subject of heated political controversy. As such, the investment reflects a significant conflict of interest—and an avoidable one.”

    “Neither the president nor his family have ever engaged, or will ever engage, in conflicts of interest,” says White House press secretary Karoline Leavitt, in a statement to WIRED.

    Polymarket, TMTG and 1789 Capital did not respond immediately to requests for comment.

    The Truth Predict launch also tees up a scenario in which separate facets of the Trump family’s business empire could effectively compete against one another.

    “From a venture capital perspective, many of us don’t like to invest in competing projects. We try to avoid that,” says Chris Perkins, managing partner at crypto VC firm CoinFund. “We try to identify category winners.”

    Already, businesses connected to the Trump family are operating competing bitcoin treasuries. In June, a dispute broke out over which corporate entities were permitted to launch an “official” Trump-branded crypto wallet.

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    Joel Khalili

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  • Coinbase Exec Says Big Bitcoin Buyers Have ‘Ghosted’ Since October Crash

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    Corporate Bitcoin buying hits year-to-date lows, and Coinbase warns that only one Ethereum DAT is keeping the institutional demand afloat.

    Coinbase’s Head of Institutional Research, David Duong, observed that Bitcoin digital asset treasury companies (DATs) have “largely ghosted” since the October 10 market drawdown.

    Even during times of brief market recoveries, DATs have shown little sign of re-engagement.

    DATs Have Vanished?

    Over the past two weeks, BTC buying by DATs has fallen to near year-to-date lows, which could be due to limited confidence among large institutional players who typically provide strong market support during periods of conviction. Duong explained that the only consistent buying activity since the correction has come from Ethereum-focused DATs, and even that demand has been narrowly driven by a single player, identified as Bitmine (BMNR), with smaller contributions from other funds.

    Coinbase warned that if BMNR slows or halts purchases, the apparent corporate bid for ETH could quickly fade. Overall, Duong said the muted participation of BTC DATs and the concentration of ETH buying points led to a cautious stance from major balance sheets following the leverage washout. This has left the crypto market fragile at current support levels and warrants a more defensive short-term positioning.

    Even crypto analyst Maartunn echoed similar concerns earlier this week, when he noted that Michael Saylor-led Strategy’s once-aggressive Bitcoin accumulation has slowed dramatically in recent months. After dominating headlines with billion-dollar allocations and weekly purchases exceeding 10,000 BTC at its 2024 peak, the firm briefly reduced its buying pace to just around 200 BTC per week.

    Maartunn added that while the company’s long-term conviction in Bitcoin remains intact, its ability to sustain large-scale purchases has weakened. The analyst emphasized that Strategy “is no longer buying big, but they’re still buying.” However, the company did go on to spend $43.4 million to acquire 390 BTC on Monday.

    Meanwhile, another publicly traded company is making a more assertive move to expand both its crypto and core business operations.

    You may also like:

    Corporate Bitcoin Rush Deepens

    Prenetics Global, a Nasdaq-listed health tech company, has completed a $48 million equity raise that was oversubscribed, in a bid to bolster its Bitcoin treasury reserves and scale up its IM8 supplement brand. The firm revealed on Monday that the offering received strong interest from a range of crypto-focused investors such as Kraken, Exodus, Jihan Wu’s GPTX, DL Holdings, and American Ventures.

    Tennis star Aryna Sabalenka and Hong Kong business magnate Adrian Cheng both deepened their investments, while football legend David Beckham continues to hold shares. Prenetics said that the company may receive up to a total of approximately $216 million if all associated warrants are exercised.

    In a separate development, Nasdaq-listed American Bitcoin Corp., founded by Eric and Donald Trump Jr., has grown its Bitcoin holdings by acquiring 1,414 BTC, which is worth more than $160 million. The company now owns a total of 3,865 BTC, worth close to $450 million as of October 24, sourced from both its mining operations and open-market purchases.

    According to data compiled by BitcoinTreasuries, this latest accumulation places American Bitcoin among the top 26 public holders of the cryptocurrency, ranking just behind Gemini Space Station and ahead of OranjeBTC.

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    Chayanika Deka

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  • November Preview: Will Bitcoin Break The Cycle Or Repeat It?

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    A widely shared seasonality snapshot is making the rounds ahead of month-end: a Coinglass heat map of Bitcoin’s monthly returns, reposted by trader Daan Crypto Trades. The table spans 2013–2025 and shows November as the statistical outlier in Bitcoin’s calendar—both for eye-popping gains and for sharp drawdowns in certain years.

    Bitcoin November Preview

    “November is Bitcoin’s best month based on historical performance. By far,” Daan wrote on X, pointing to an average November change of +46.02% across the dataset. That figure is visibly distorted by November 2013’s +449.35% surge, the single largest monthly move on the board. He added: “The average gain over all these months is +46.02%. But this is heavily skewed by a single monthly gain in November 2013. Bitcoin went up +449.35%!! that month.”

    The raw counts back up the reputation without the hyperbole. Out of the 12 Novembers listed (2013–2024), 8 finished green—2013 (+449.35%), 2014 (+12.82%), 2015 (+19.27%), 2016 (+5.42%), 2017 (+53.48%), 2020 (+42.95%), 2023 (+8.81%), and 2024 (+37.29%)—while 4 were negative—2018 (-36.57%), 2019 (-17.27%), 2021 (-7.11%), and 2022 (-16.23%).

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    The median November change sits at +10.82%, a more conservative central tendency that dampens the 2013 effect. Excluding 2013 entirely, the simple average for November drops to roughly +9.35% across the remaining 11 years, underscoring how one month can skew mean-based seasonality.

    Bitcoin seasonality | Source: X @DaanCrypto

    Context from the broader table matters. November’s average is the highest of any month on Coinglass’s grid, ahead of October’s +20.30% average, while December shows a far more mixed profile with a +4.75% average but a -3.22% median—an imbalance consistent with outlier-driven months.

    September, long maligned by traders, retains a negative average (-3.08%) over the full period. The 2024 row itself captures the push-and-pull of this cycle’s narrative: double-digit gains in February, March, May, October, and November, offset by meaningful drawdowns in April, June, and August, and a negative December print to close the year (-2.85%).

    Lessons From Prior Cycles

    Daan’s framing extends beyond simple seasonality. “November & December is when the 2013, 2017 & 2021 cycles topped out. It’s also where the 2018 & 2022 cycles bottomed out,” he noted. That observation lines up with the historical inflection points most market participants remember: the late-2013 mania and subsequent crash, the December 2017 peak, the November 2021 all-time high, and the December 2018 and November 2022 washouts.

    Related Reading

    The Coinglass grid cannot timestamp intramonth highs or lows, but the clustering of major pivots into the final two months of the year is consistent with the market’s folklore and with the returns pattern that shows both exceptionally strong up months and some of the cycle’s most punishing down months in this window.

    The practical takeaway—again in Daan’s words—is not categorical bullishness, but regime risk: “All in all, an eventful last 2 months of the year generally speaking. Whether it’s on the bullish or bearish side, volatility and big market pivots have been the theme into the end of the year.” The heat map supports that characterization.

    November’s distribution spans the widest extremes on record—from +449.35% at the top to -36.57% on the downside—with a two-thirds hit rate for green months and a median gain in the low double digits. December, by contrast, has produced both cycle tops and cycle bottoms despite a modest average, a reminder that average and median statistics can obscure the path risk that defines Bitcoin’s fourth quarter.

    Seasonality is not destiny, and the sample is limited. Still, the data-backed message is clear: as November approaches, Bitcoin’s historical pattern has been less about quiet trend continuation and more about variance—the kind that has marked both euphoric blow-offs and capitulation lows.

    At press time, BTC traded at $114,487.

    Bitcoin price
    BTC bulls need to reclaim the channel, 1-week chart | Source: BTCUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • Bitcoin Price Could See A New All-Time High Above $126,000 If It Breaks This Critical Level

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    The Bitcoin price is positioning for a potentially explosive move that could take it well beyond its previous all-time highs. Analysts are closely watching a critical resistance level near $116,000, which may serve as the final hurdle before BTC catapults into uncharted territory above $126,000. 

    Analyst Predicts New Bitcoin Price All-Time High

    Crypto analyst Donny Dicey revealed in an X social media post this week that the $116,000 price level is the decisive zone Bitcoin must breach to confirm a breakout toward a new all-time high. His technical analysis suggests that once BTC achieves a clean break above this resistance area, momentum could swiftly carry it above $126,000. 

    Related Reading

    Notably, Bitcoin set a new ATH on October 6, 2025, after breaking through its previous record above $124,000 and climbing past $126,000. Since achieving this level, the price of BTC has fallen dramatically to $115,000. Dicey’s accompanying chart shows the market steadily recovering after testing support near $108,000, marked as a “market structure break” region, with bullish price action consolidating above $109,000. 

    The analyst has emphasized that each day Bitcoin maintains a close above $109,000 strengthens the probability of a strong upward swing as the market heads into November. This period coincides with the Federal Open Market Committee’s (FOMC) next meeting, where investors are anticipating dovish signals such as rate cuts or the formal end of Quantitative Tightening (QT).

    Source: Chart from Donny Dicey on x

    Dicey also notes that bullish S&P 500 earnings, easing global trade tensions from a potential agreement between US President Donald Trump and China’s President Xi Jinping, and improving ISM manufacturing data point to a macro environment supportive of risk assets. A community member commented that whales may have underestimated how much BTC’s demand tends to persist during these conditions. Dicey responded that the same whales might become “exit liquidity” as Bitcoin accelerates higher, possibly missing out on the strongest phase of this cycle. 

    Consolidation Above January Highs Signal Unbreakable Strength

    In a follow-up analysis, Dicey highlighted Bitcoin’s remarkable stability above its January highs, describing its price structure as “unbreakable” amid global macroeconomic uncertainty. He pointed to several converging factors that reinforce BTC’s resilience, including ongoing fiscal and monetary expansion, a weakening US dollar, and renewed confidence in the global business cycle. 

    Related Reading

    The analyst also emphasized that geopolitical tensions tied to US-China relations appear to be subsiding. At the same time, ETF inflows and exponential growth in the Artificial Intelligence (AI) sector contribute to acting as tailwinds for digital assets. He disclosed that despite strong underlying fundamentals, skepticism remains widespread in the market.

    According to him, many still believe in the traditional four-year cycle narrative, while retail enthusiasm has not fully returned. Furthermore, the Russell 2000 index has yet to breakout, and rotation from traditional assets, such as the S&P 500 and gold, into Bitcoin remains limited. With these developments subduing broader market participation, Dicey suggests it creates the perfect setup for a powerful rally in BTC once sentiment shifts decisively.

    Bitcoin
    BTC trading at $115,411 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pixabay, chart from Tradingview.com

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    Scott Matherson

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  • Bitcoin Reserves On Binance Fall To July Lows — What This Means For Price

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    Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

    Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

    In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

    In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

    Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

    Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

    Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

    Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

    Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

    He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

    In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

    His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

    Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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    Semilore Faleti

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  • ‘Money Will Pour In’ – CEO Predicts Bitcoin Will Explode To $180K

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    They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

    Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

    Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

    So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

    Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

    Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

    Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

    Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

    So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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    Christian Encila

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  • Bitcoin ‘True Bull Run’ May Yet To Begin — Analyst Explains Why

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    Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

    Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.

    Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

    When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

    Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
    Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

    Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

    Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

    Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.

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    Opeyemi Sule

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  • Peabody to ban Bitcoin ATMs after residents scammed

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    PEABODY — An ordinance before the City Council would ban Bitcoin machines in the city after Peabody residents have lost well over $100,000 in scams involving these machines.

    Councilors voted unanimously Thursday night to draft and advertise the ordinance change banning all machines that sell virtual currency including but not limited to Bitcoin.


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    By Caroline Enos | Staff Writer

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  • Ethereum Whales Quietly Accumulate As Stablecoin Usage Skyrockets 400%

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    Reports have disclosed a 400% rise in stablecoin transfers on Ethereum over the last 30 days, pushing total transfer volume to $581 billion and more than 12.5 million transfers, according to Token Terminal.

    Related Reading

    The stablecoin market cap on Ethereum now tops $163 billion. At the same time, Ethereum has fallen about 4.50% in the past week, and briefly tested support near $3,738, which some traders called a buying opportunity.

    Whales Step In With Large Buys

    On-chain trackers show heavy buying from large holders. A newly created wallet, 0x86Ed, spent $32 million to pick up 8,491 ETH in roughly three hours, based on Arkham Intelligence records.

    ETHUSD currently trading at $3,987. Chart: TradingView

    Another high-profile account monitored by LookOnChain moved 284K USDC into Hyperliquid after recent liquidations, apparently to maintain long exposure to ETH.

    Reports say October’s stablecoin transaction volume on Ethereum passed $1.91 trillion for the second time on record, a sign that big flows are still moving through the network.

    Institutions Are Increasing Exposure

    CryptoQuant and exchange data point to a rise in institutional interest. CME futures open interest for ETH has climbed, suggesting larger players are setting positions ahead of a potential price move.

    Fundstrat’s Tom Lee was cited saying ETH could head toward $5,000 if the ETH/BTC ratio clears the 0.087 resistance. Matt Sheffield, CIO at Sharplink Gaming, told analysts that past liquidations did not stop real use and that the scale of payments on legacy systems — SWIFT processes about $150T a year — shows how much room exists for stablecoins to grow on Ethereum.

    Technical Setups Show Clear Levels To Watch

    Technical analysis experts have noted a confluence of indicators near today’s prices. Currently, ETH is trading near $3887, just above the significant Fibonacci retracement of 0.618 at $3781.

    The 0.786 retracement is near $3,640 with the level of formal invalidation set at $3443. Some technicians have pointed to a triple bottom trading pattern around $3600, as well as the potential for a new accumulation reading from a Wycoff re-accumulation pattern which could lead to higher targets (notably $5125 at the 1.618 extension.

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    Balance Between Flow And Risk

    In sum, with heavy stablecoin flow, whale buying, and increasing interest in futures, this has created a basis for bullish calls into the $5000 range.

    That said, chart patterns fail, on-chain movements may not lead to changes in price, and traders who remain cognizant of the ETH/BTC ratio, the invalidation line at $3443, and whether large transactions are transferring or being used for longer-term custody, may get more clarity in the coming sessions.

    Featured image from Motion Island, chart from TradingView

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    Christian Encila

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