Category: Uncategorized

  • UK Financial Leaders Expect Tokenization to Reshape Sector, Lloyds Survey Finds

    UK Financial Leaders Expect Tokenization to Reshape Sector, Lloyds Survey Finds

    A significant majority of senior decision-makers in major UK financial institutions anticipate that tokenization will fundamentally transform the financial services landscape, according to a survey by Lloyds Banking Group. The findings underscore a strong industry expectation that the technology will drive efficiency and innovation.

    Lloyds Banking Group polled 100 senior figures across UK banks, insurers, asset managers, and financial sponsors. The survey revealed that 71% of these leaders expect tokenization to reshape financial services. Faster payments and settlement emerged as the most significant perceived benefit, cited by 60% of respondents as the biggest potential advantage. Improved collateral and liquidity management was also highlighted, with 41% of those surveyed pointing to this as a key benefit.

    These expectations align with a broader strategic push by the UK government and its financial regulators to integrate tokenization into the nation’s financial infrastructure. Policymakers are actively encouraging the move of tokenization beyond pilot projects towards scalable implementation, supported by projections that leadership in this area could significantly boost the UK’s economic output.

    Economic Outlook
    A government-backed industry task force has estimated that by 2035, leadership in tokenized finance could add as much as 33 billion British pounds (approximately $44 billion) to the UK’s annual economic output. The task force has also set a target for the country’s first tokenized government bond by early 2027, signaling a clear roadmap for adoption.

    Government and Regulatory Initiatives
    In line with this strategic direction, the Bank of England proposed in May to extend its core settlement infrastructure towards near-24/7 availability. Following this, a government payments blueprint called for tokenized and traditional forms of money to operate within an interoperable payments system, aiming to create a more integrated financial ecosystem.

    Industry Actions and Collaborations
    Lloyds Banking Group has also engaged directly with tokenization technology. Earlier this year, the bank collaborated with Archax and Canton Network on what was described as the UK’s first public blockchain transaction utilizing tokenized deposits to acquire a tokenized UK government bond. This practical application demonstrates the industry’s commitment to exploring and implementing tokenization solutions.

    Furthermore, the UK has been seeking greater coordination with the United States on tokenized finance. In July, the US and UK treasuries jointly recommended the creation of a private-sector group to test cross-border uses of tokenized assets. They also urged US financial regulators and the Bank of England to identify shared approaches to regulation, indicating a global effort to foster responsible development in this area.

    Rob Hale, co-head of global markets at Lloyds, commented on the next phase of development, stating, “The next phase is about turning those individual use cases into infrastructure that works at scale, with the interoperability and common standards needed to connect digital and traditional markets.” This sentiment reflects the industry’s focus on building robust and interconnected systems for tokenized assets.

    Why This Matters

    The materials describe a narrow update: A survey of 100 senior decision-makers in major UK financial institutions by Lloyds Banking Group revealed that 71% expect tokenization to reshape financial services. Faster payments and settlement emerged as the biggest potential benefit.

    Broader Context

    Source materials place the factual news in this context: The finding comes from an annual survey by Lloyds Banking Group, the UK’s largest financial services provider.

  • Bitcoin Rockets to $86K in October Surge

    Bitcoin Rockets to $86K in October Surge

    Bitcoin traded at $86,757 on Friday, marking a 3% increase over 24 hours and a 2% rise for the week, according to CoinGecko data. This surge follows a September that defied the month’s typical losing streak. However, the cryptocurrency remains approximately 31% below its all-time high set a year ago.

    Inflation Data Fuels Fed Rate Hold Speculation

    The recent price movement comes in the wake of Wednesday’s inflation report. August’s core Personal Consumption Expenditures (PCE) index registered 3.0%, falling short of the 3.3% expectation. The subsequent repricing of market expectations has significantly increased the likelihood of the Federal Reserve holding interest rates steady at its October 28 meeting. CME’s FedWatch tool indicates a 74% probability of a hold, a substantial jump from 35.8% a week prior. Traders on Myriad, a prediction market operated by Dastan, the parent company of Decrypt, are pricing the odds at 75%. Nexo analyst Iliya Kalchev noted to Decrypt that this shift occurred from an even split as recently as September 29.

    Federal Reserve officials have signaled a cautious approach. New York Fed President John Williams stated on Tuesday that there was “no need for urgency” following September’s rate hike, though he still anticipates one more increase later in the year as part of his baseline forecast. Vice Chair Philip Jefferson echoed this sentiment on Thursday, emphasizing the need for policymakers to allow more time and for adjustments to be guided by data and the balance of risks. High Treasury yields had previously acted as a cap on Bitcoin’s price, but Tim Sun of HashKey observed that short covering contributed to buying momentum once the price broke its established range.

    Mixed Economic Signals Emerge

    Earlier in the week, jobless claims fell to 197,000 for the week ending September 26, with continuing claims dropping to 1.7 million, the lowest figures since March 2023. Additionally, ADP private payrolls rose by 90,000, exceeding forecasts.

    However, Friday’s official jobs report presented a weaker picture. The Bureau of Labor Statistics reported that nonfarm payrolls increased by only 29,000 in September, significantly below the 90,000 expected. The unemployment rate also edged up to 4.2%. Revisions to July and August data showed a combined downward adjustment of 60,000 jobs, with July now reflecting a net loss of 10,000. The average monthly job gains over the past year now stand at 45,000. Analysts quoted prior to this report commented that such a soft print strengthens the case for a rate hold, while also raising a question the Fed has been trying to avoid: whether the labor market is showing signs of turning. The September Consumer Price Index (CPI) is scheduled for release on October 14. “Cooling inflation without labor weakness is generally supportive of risk assets, Bitcoin included,” Kalchev stated.

    Spot Bitcoin ETFs See Strong Inflows

    Spot Bitcoin Exchange-Traded Funds (ETFs) attracted $2.65 billion in September, second only to August’s $3.52 billion since October 2025. The third quarter saw total inflows of $6.34 billion, according to SoSoValue. The net assets of these ETFs currently stand at $109.3 billion. Kalchev highlighted that inflows were recorded on 10 of the last 11 trading sessions, totaling approximately $3 billion.

    This strong quarterly performance largely offset earlier losses. The funds experienced outflows of $4.97 billion in the second quarter and $490 million in the first, leaving net inflows for 2026 under $1 billion.

    The significant inflows occurred despite a 25-basis-point rate hike and a 10-year Treasury yield exceeding 5%. Sun noted that this indicates the money is “not merely chasing liquidity, but are rather allocation-driven inflows.” He added that Morgan Stanley’s ETF, which took in over $200 million last month, signals that “major investment banks’ wealth management systems are starting to incorporate Bitcoin into client asset allocation plans.”

    Divergent Views on Market Positioning

    Analysts hold differing views on current market positioning. Kalchev observes that futures open interest has decreased by about 12% from its September 22 peak and is in the bottom decile of its one-year range, suggesting the current advance is not heavily reliant on leverage. Conversely, Sun reports that open interest has risen as the price has climbed. Kalchev’s analysis of options data indicates “a market hedged against a drawdown but positioned for continuation,” with protection at $80,000 and below, and call options ranging from $89,000 to $92,000.

    Historically, October and November have been Bitcoin’s strongest months, a phenomenon traders refer to as “Uptober.” Stephen Wundke of Algoz noted that October has averaged an 18% gain and the fourth quarter has averaged a 46% gain over the past decade. He told Decrypt that “traders feel there is more upside currently than there is downside.” Wundke added, “There is a welter of money sitting on the sidelines waiting for more positive figures. If we get those softer figures and no rate rise, BTC will move very quickly and drag the rest of the quality assets with it.”

    Outlook Remains Dependent on Macro Factors

    The 10-year Treasury yield is at its highest level since 2002, and the Fed still projects another rate hike this year. Consequently, a strong payrolls report or a higher-than-expected CPI could bring December back into play for a potential rate increase. Wundke estimates the chance of an October hike at 40%, a figure considerably higher than the 26% implied by current futures markets.

    Owen Yang, chief executive of payments platform UPay, expressed a more cautious outlook. While ETF flows and the SEC’s work on custody continue to support the institutional case, he told Decrypt that “institutions entering at these price levels could mean less upside momentum.”

    “Whether Uptober lives up to its name will depend on the macroeconomic environment and the Fed,” Kalchev concluded, “and Bitcoin is actively pricing those outcomes.”

  • Hoskinson’s Midnight Surges 159% After Major Crash

    Hoskinson’s Midnight Surges 159% After Major Crash

    Midnight’s NIGHT Token Recovers Sharply Following Network Upgrade and Exploit

    The NIGHT token, associated with Charles Hoskinson’s Midnight project, has experienced a significant rebound, surging 159% through September and early October after a substantial crash. This recovery follows a major network upgrade that went live on October 2nd, enhancing the platform’s utility and developer engagement.

    Permissionless Smart Contracts Go Live

    The primary catalyst for NIGHT’s resurgence is the successful deployment of permissionless smart contract functionality on Midnight’s mainnet. This upgrade, implemented on October 2nd, empowers developers to deploy contracts freely and create them through code, removing a significant barrier to entry. The move is expected to foster the development of new applications on the network, potentially increasing demand for NIGHT, which is utilized for network fees and security.

    This upgrade represents a progression from Midnight’s Devnet to an open public testnet, providing developers with a more robust environment to test its data-protection features.

    Privacy Technology and Market Enthusiasm Drive Gains

    Beyond the technical upgrade, growing interest in Midnight’s privacy technology has also contributed to the token’s rally. The project leverages Zero-Knowledge (ZK) proofs, enabling the protection of private information within smart contracts. This capability positions Midnight for potential applications in sectors like finance and identity management, where both privacy and regulatory compliance are paramount.

    Further fueling enthusiasm, Cardano founder Charles Hoskinson recently suggested that Midnight could surpass Zcash in the realm of private smart contracts. He highlighted Midnight’s features, including selective disclosure, private agents, and a DeFi kernel, in conjunction with its use of ZK, Trusted Execution Environment (TEE), and Multi-Party Computation (MPC) technologies. Hoskinson indicated a target of 2027 for the project’s full delivery, rather than specifying price targets. These remarks have amplified attention on Midnight as NIGHT continues its upward trajectory.

    Technical Outlook for NIGHT Token

    The NIGHT token is currently testing the $0.0485 resistance level following its recent rally. Sustaining a price above $0.044 could enable the token to retest the $0.048 mark. A breakthrough above this level might extend the current momentum, while a fall below $0.044 could lead to a pullback towards $0.040.

    The central question remains whether the increased smart contract activity on Midnight’s network will be sufficient to sustain the strong recovery of the NIGHT token.

  • Crypto Bulls Eye BTC, ETH, XRP, SOL: Analyst

    Crypto Bulls Eye BTC, ETH, XRP, SOL: Analyst

    Market Optimism Fuels Bull Run Expectations for Major Cryptocurrencies

    The cryptocurrency market’s recent recovery, coupled with the arrival of October—a historically strong month for digital assets—has ignited optimism that the bear market’s grip may be loosening, paving the way for a new bull run. Analysts are forecasting significant price surges for several leading cryptocurrencies, suggesting a major rally could be imminent. Prominent analyst Ali Martinez has shared his outlook on Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Solana (SOL).

    Bitcoin (BTC) Poised for Potential Upside

    Martinez observed that Bitcoin has traded within a rising channel for the past two years. He identified the previous all-time high, exceeding $126,000, as a key resistance level. “A decisive break above it could put the channel’s upper boundary near $190,000 in focus as a potential cycle target,” he projected.

    Several indicators support the possibility of a short-term uptrend for BTC. Notably, whale accumulation has been significant, with large investors—holding between 10 and 10,000 BTC—acquiring over 41,000 coins in approximately 10 days. Furthermore, institutional demand remains robust, with spot BTC ETFs attracting over $57.6 billion to date. Last week alone saw nearly $2.4 billion flow into these products, marking the strongest performance since October 2025.

    However, the upcoming U.S. midterm elections could pose a challenge to this bullish outlook. Martinez previously highlighted that historical voting years such as 2010, 2014, 2018, and 2022 were followed by significant market corrections, raising questions about whether history will repeat itself.

    Ethereum (ETH) Targets New Highs

    Turning his attention to Ethereum, Martinez noted that its monthly chart reveals a channel extending over five years. He pinpointed the upper boundary near $5,000 as a critical level. A sustained break above this mark, he suggested, could propel ETH towards a projected target of $8,800.

    Similar to Bitcoin, large Ethereum holders have also been actively accumulating. Last week, these “big ETH holders” amassed approximately 60,000 units, valued at around $162 million. Concurrently, cumulative net inflows into spot ETH ETFs have reached nearly $14 billion, with an additional $700 million invested last week.

    Ripple (XRP) Eyes Significant Gains

    For Ripple’s XRP, Martinez identified the formation of an ascending triangle on its 30-day chart, with resistance situated near $3.66. He posited that a monthly close above this threshold would confirm a breakout and could initiate a substantial bull run, targeting an ambitious $31.87.

    XRP’s recent performance has also fueled optimism. For the first time in its history, the asset closed July, August, and September in positive territory, bolstering hopes for a strong October.

    Solana (SOL) Shows Bullish Pattern

    Finally, Martinez analyzed Solana’s SOL, spotting the development of a classic cup-and-handle pattern. The neckline of this pattern is positioned near $295. “A monthly close above it would strengthen the bullish case, with the pattern projecting a potential target near $2,744,” Martinez stated.

  • Citi Eyes Bitcoin at $113,000

    Citi Eyes Bitcoin at $113,000

    Citigroup Revises Bitcoin Price Target Upward, Citing Macro and Regulatory Shifts

    Citigroup has once again adjusted its outlook on Bitcoin. On September 30, 2026, the banking giant raised its 12-month price target for the cryptocurrency to $113,000, an increase from its previous $82,000 forecast. This latest revision effectively returns Citi’s projection to its earlier stance before a significant downgrade in July.

    The significance of this adjustment stems from Citigroup’s position as one of the largest financial institutions in the United States. The move also comes at a time when Bitcoin’s price remains considerably below its all-time high.

    Bitcoin Price Target Raised

    The headline figure is Citigroup’s revised Bitcoin target. As of October 1, 2026, Bitcoin was trading in the range of $83,900 to $84,100. Against Citi’s new $113,000 projection, this suggests a potential upside of approximately 35% over the coming year.

    Ether Price Target Also Upgraded

    The second-largest cryptocurrency, Ether, received a similar boost. Citigroup increased its 12-month target for Ether to $3,028, up from $2,240, representing a 35% increase in the target itself.

    Inflow Forecast and Underlying Thesis

    Beyond price targets, Citigroup also provided an estimate for anticipated capital flows into the crypto market. The bank forecasts $5 billion in crypto inflows over the next 12 months, expecting the pace to accelerate gradually. This outlook is underpinned by the expectation that financial advisors and brokerages will slowly expand their cryptocurrency allocations.

    Macroeconomic and Regulatory Drivers

    Citigroup attributed the upgrade to a combination of macroeconomic and regulatory factors. On the macro front, concerns regarding currency debasement have been growing, and U.S. Treasury bond buybacks have contributed to a softening of the dollar.

    Regulatory Landscape and Market Sentiment

    The regulatory environment also played a role. While the Senate’s failure to advance the Clarity Act represented a legislative setback for the industry, subsequent rulemaking by the Securities and Exchange Commission (SEC) has provided a lift to market sentiment, according to the research supporting Citigroup’s revision.

    ETF Flows Show Modest Recovery

    Data on exchange-traded fund (ETF) flows indicates a slow but steady recovery. Following a challenging period, inflows into crypto ETFs are estimated to have turned slightly positive by late September 2026, totaling approximately $800 million.

    A Shift from Pessimism

    Citigroup’s renewed optimism is particularly noteworthy given its recent bearish stance. In July 2026, the bank had lowered its Bitcoin target from $112,000 to $82,000, citing stagnant ETF inflows and legislative obstacles. This rapid shift, from $112,000 to $82,000 and then back up to $113,000 within approximately two months, highlights the volatility of market sentiment. It is also important to note that even the upgraded target remains below Bitcoin’s peak of $126,200 reached in October 2025.

    Key Driver: Advisor and Brokerage Allocations

    Perhaps the most crucial element of Citigroup’s analysis lies not in the price targets themselves, but in the projected $5 billion in inflows and the mechanism driving them: the expansion of crypto allocations by financial advisors and brokerages.

    Broader Market Tailwinds for Ether

    The matching 35% increase in Ether’s target suggests that Citigroup’s positive outlook extends beyond Bitcoin. The bank appears to believe that the same macroeconomic and regulatory tailwinds are benefiting the broader cryptocurrency market.

    Challenges and Uncertainties

    Despite the positive outlook, the ETF recovery remains modest. The failure of the Clarity Act leaves the industry more reliant on SEC rulemaking than on legislative action, a situation where agency rules can be more easily altered by future administrations than statutory law. Furthermore, the macroeconomic case hinges on the dollar remaining soft and debasement concerns persisting. Any slowdown in Treasury buybacks or a strengthening of the dollar could undermine key aspects of Citigroup’s thesis.

  • SparkLend Hits 600,000 ETH Deposited, New Record

    SparkLend Hits 600,000 ETH Deposited, New Record

    SparkLend Reaches Record 600,000 ETH in Deposits

    Mid-September 2026 – The decentralized finance lending protocol SparkLend has achieved a significant milestone, reaching an all-time high of 600,000 Ether (ETH) in deposits. This marks a steady ascent for the platform, which held 380,000 ETH in late April 2026 and saw deposits climb to 516,000 ETH by mid-May.

    Growing Balance Sheet and Total Value Locked

    The protocol’s overall financial health has mirrored this deposit growth. As of mid-September 2026, the total market size, representing all assets supplied to SparkLend, stands at $7.39 billion. The total value locked (TVL), a key metric in decentralized finance, is approaching $4.96 billion. TVL is commonly understood as the capital actively secured within the protocol, distinct from funds lent out. Currently, active loans on the platform total approximately $2.4 billion.

    Whale Activity Fuels Growth

    A notable contributor to SparkLend’s deposit surge has been the influx of large holders, often referred to as “whales.” These significant investors funneled an estimated 88,320 ETH into the protocol over the six months leading up to September 2026.

    Spark Ecosystem and Sky Connection

    SparkLend operates as the primary lending protocol within the broader Spark ecosystem. Spark itself is closely linked to Sky, a protocol previously known as MakerDAO, a foundational entity in the decentralized finance landscape.

    USDS Borrowing Hits New Peaks

    Borrowing of the stablecoin USDS on SparkLend has also reached unprecedented levels, fluctuating between $800 million and $900 million. In contrast to many lending markets where interest rates are dictated by market forces, SparkLend employs governance-controlled rates for assets like USDS.

    Focused Collateral and Deployment Strategy

    SparkLend maintains a focused approach, limiting its collateral options primarily to wstETH, a wrapped version of staked ETH, and previously rETH. The protocol also imposes restrictions on high-leverage looping activities when compared to its competitors. In a strategic move to streamline operations, SparkLend fully deprecated its Gnosis Chain deployment on September 14, 2026, concentrating its efforts exclusively on the Ethereum network.

    Investor Shift Towards Conservative DeFi

    The recent growth at SparkLend occurs against a backdrop of increased investor caution in the DeFi space. Following incidents that impacted rival platforms, there has been a discernible shift towards more conservative DeFi protocols. Institutional participants, in particular, are showing a preference for vetted, lower-risk lending solutions.

    Strategic Implications for Sky and USDS Distribution

    For Sky, the substantial USDS borrowing figures on SparkLend are particularly significant. The volume between $800 million and $900 million suggests that SparkLend is effectively serving as a distribution channel for the stablecoin, extending its utility beyond simply being a place to hold ETH.

    However, the reliance on a relatively small number of large holders for significant ETH inflows, approximately 88,320 ETH over six months, presents a potential concentration of risk. Should these whales decide to withdraw their funds, it could have a material impact on the protocol’s deposit figures. The exclusive focus on Ethereum further consolidates this exposure.

  • Ripple Hints at Major Korea Blockchain Week Announcement

    Ripple Hints at Major Korea Blockchain Week Announcement

    XRP Price Hovers Ahead of Key Seoul Announcement

    XRP is trading at $1.52, a 1% increase over the past 24 hours, as anticipation builds for Ripple’s appearance at an event in Seoul on October 3. The upcoming announcement, though undisclosed, is being closely watched as a potential catalyst for the cryptocurrency’s price.

    “Special Announcement” Set for XRP Seoul Event

    The XRP Seoul program includes a 20-minute session titled “Special Announcement: What’s Coming Next for the XRP Ecosystem in Asia,” scheduled from 2:15 p.m. to 2:35 p.m. Ripple ecosystem growth manager Tatsuya Kohrogi and XRP Asia president Sabrina Tachdjian are expected to deliver the announcement.

    Major Financial Institutions to Attend

    This Saturday’s XRP Seoul event will feature speakers from prominent South Korean financial institutions, including Woori Bank, Kakao Bank, Kbank, and Kyobo Securities, alongside Ripple’s president, Monica Long. The presence of these banks suggests an interest in exploring financial infrastructure rather than a typical cryptocurrency meetup.

    Focus on Cross-Border Payments and Institutional Finance

    The “Special Announcement” session follows a panel discussion on cross-border payments and tokenized deposits, featuring representatives from Ripple and South Korean financial firms. Earlier in the day, Ripple President Monica Long is slated to address institutional finance. The conference schedule confirms these timings.

    Catalyst Potential Remains Uncertain

    While the lineup of institutional participants lends significant weight to the event, it does not guarantee a surge in XRP demand. XRP’s price is currently consolidating near the midpoint of its Bollinger Bands, raising questions about whether the announcement will drive the cryptocurrency beyond its current trading range or simply meet existing market expectations.

    Consolidation Continues Amidst Speculation

    At $1.52, XRP’s 1% gain in 24 hours indicates a positive trading session but not a definitive breakout. The price action near the Bollinger-band midpoint suggests consolidation rather than a strong directional trend.

    Event Timing and Market Reaction

    The timing of the announcement is noteworthy, occurring after discussions on cross-border payments and tokenized deposits, and within a broader program that includes institutional blockchain applications. While coverage of the event has emphasized tokenization and XRPL developments, any specific partnership or use case requiring XRP remains unconfirmed. The market’s reaction could be significant if concrete details emerge, as the “special announcement” label alone may not be sufficient to drive sustained interest.

    Follow-Through Key to Sustained Gains

    The critical factor for XRP’s price will be the follow-through after the announcement’s details are revealed. The question remains whether the price will hold any gains. The event itself is considered a catalyst, not a definitive forecast of future performance.

    Long-Term Outlook Supported by Institutional Calendar

    XRP’s institutional event calendar provides support for its long-term investment case. However, near-term price appreciation hinges on confirmed news and sustained price momentum following the announcement. A strong headline can boost expectations, but it cannot guarantee lasting demand.

    Alternative Investment Opportunities

    For traders seeking different risk profiles, early-stage tokens offer exposure to community momentum, albeit with distinct liquidity and execution risks.

    Maxi Doge (MAXI) Meme Token Launches Presale

    Maxi Doge ($MAXI), an Ethereum ERC-20 meme token, has launched its presale with a price of $0.0002841. The project has already raised $4.8 million. Maxi Doge is built around a canine character and a trading community identity, offering a 60% APY staking reward, holder-only trading competitions, and a Maxi Fund for liquidity and partnerships. The project explicitly positions itself as meme-first, acknowledging that memes often serve as an entry point into the cryptocurrency sector. Investors are advised to research Maxi Doge before the presale concludes.

  • Trader Killa: Bitcoin’s $82.5K Low Confirmed, Minor Further Drops Expected

    Trader Killa: Bitcoin’s $82.5K Low Confirmed, Minor Further Drops Expected

    Bitcoin Reaches $86,373 on Binance, Trader Killa Identifies Key Support Level

    Bitcoin surged to $86,373 on Binance on October 2nd, marking a 3.55% increase over the preceding 24 hours. Trader Killa, a prominent figure in the crypto space, posted early on the same day, asserting that Bitcoin had established a solid low at $82,500. He referenced the 2023 bull market, noting that price dips below such established lows had historically been shallow, with the deepest only breaching 8%. Killa suggested that leveraging positions around this previous low with 7x to 10x leverage could be relatively safe, provided robust risk management practices are in place.

    Killa’s Analysis of Bitcoin’s Established Low

    In a post on X (formerly Twitter) at 4:20 AM Taiwan time on October 2nd, Killa declared Bitcoin’s “established low” to be $82,500. He backed this claim by citing historical data from the 2023 bull run, where price “sweeps” below such support levels rarely exceeded an 8% drop, with some instances seeing declines of only 4% to 5%. Based on this historical performance, Killa anticipates any current dip to be minimal. As of 4:25 PM on October 2nd, Bitcoin was trading at $86,373 on Binance BTCUSDT, reflecting a 3.55% gain in the last 24 hours.

    Killa’s tweet stated: “There is no worse feeling than watching $BTC pump without you. Unfortunately, we are at the peak stage of disbelief despite a significant shift in trend. Any downside should be bought aggressively and quickly. Keep leverage low. If you want to make big money, you need to trade…”

    An “established low” refers to a price point that has been confirmed by the market and has previously acted as support. A “sweep” occurs when the price briefly dips below this level before recovering. At the time of reporting, the current price of $86,373 is approximately 4.7% above the $82,500 level, meaning it has not yet revisited this key support.

    Leverage and Risk Management

    Killa emphasized that Bitcoin’s trend has clearly shifted, yet the market remains in a state of peak skepticism. He advised aggressive and swift buying on any downturns, cautioning traders to “Keep leverage low.” He further posited that using 7x to 10x leverage to go long near the previous low is a relatively safe strategy for a rally towards historical highs, contingent on proper risk management. He concluded his point by stating, “It is mathematics.”

    A 10x leverage position would be liquidated if the price moves 10% against the trader. While the deepest 8% drop in the 2023 sample did not reach this threshold, an 8% decline would still result in a 56% loss of margin for a 7x leveraged position and an 80% loss for a 10x leveraged position, leaving only 20% of the initial margin.

    This calculation has two limitations. Firstly, it does not account for trading fees or margin maintenance requirements, which would lead to earlier liquidations in reality. Secondly, the extent of any price sweep must not exceed the 2023 sample range; otherwise, the projection would not apply. In terms of price, a 4% to 8% drop from $82,500 would translate to a range between $79,200 and $75,900.

    Market Indicators and Historical Context

    Binance daily charts indicate that between September 24th and October 1st, six out of eight daily candles had their lowest points within the range of $82,563 to $83,186. This price range is close to Killa’s stated $82,500 low, though he did not specify the exact date from which he derived his figure.

    Bitcoin’s daily high on September 21st reached $87,396, its highest point in nearly 75 days. Based on the closing price of $77,340 on September 2nd, Bitcoin has seen an 11.68% increase over the past 30 days.

    On October 2nd, the open interest for Binance BTCUSDT perpetual contracts, representing the total volume of unsettled contracts, stood at 99,873 BTC. This is an approximately 8.0% increase from the 92,474 BTC recorded on September 30th, indicating a rise in open contract positions in the market over two days. The funding rate for perpetual contracts, a fee paid periodically between long and short traders, was last recorded at 0.01%, which is considered a baseline level, suggesting that long traders are not paying an unusually high premium.

    The Alternative.me Fear & Greed Index registered 72 on October 2nd, falling within the “Greed” zone. The index stood at 74 and 71 respectively on the two preceding days. This contrasts with Killa’s assessment of the market being in a state of skepticism, as the sentiment index has remained above 70 for three consecutive days.

    Broader Economic Factors

    The Federal Reserve raised interest rates by 1 yard (25 basis points) on September 16th, bringing the target range to 3.75% to 4.00%. This was the first rate hike of 2023, with all 12 voting members in favor. The median dot plot indicated that officials anticipate one more rate hike within the year, with the next meeting scheduled for October 27th-28th.

    According to FRED data, the yield on the U.S. 10-year Treasury note rose from 4.96% on September 22nd to 5.29% by September 30th. A yield exceeding 5% implies that an investor buying a 10-year U.S. Treasury bond and holding it to maturity would receive an annual return of over 5%. Killa’s tweet did not directly address interest rates or Treasury yields.

    Killa’s Trading History and Future Outlook

    Killa has approximately 234,000 followers on X. Reports from BlockBeats indicate that on April 14th, he initiated a short position on Bitcoin at $74,688 with a stop-loss set at $80,000, which would be triggered if the weekly closing price exceeded this level. On June 5th, he transitioned to a long position with a stop-loss of $31,950 and a target of $160,000.

    The entry price for his June 5th long position was not disclosed. On that day, Bitcoin traded within a daily range of $59,131 to $63,978. These are his publicly disclosed positions, and his actual profit and loss records are not available.

    In a separate tweet on September 29th, Killa responded to discussions about the depth of price corrections in 2023. Applying logic of diminishing returns and shallower pullbacks, he estimated that the maximum pullback for the current bull market, before reaching previous highs of $126,000, could range between 10% and 15%.

    He calculated a 10% pullback to approximately $78,000 and a 15% pullback to around $74,000. He also stated that deep price sweeps were not part of his strategy, and he remained focused on the $90,000 range.

    A 15% pullback, translating to $74,000, is approximately 10.3% below the $82,500 level, exceeding the deepest 8% drop observed in 2023. The 15% figure represents his projection for the maximum pullback in this bull cycle, while the 8% is the sample he cited from 2023. The 8% and 10.3% figures fall on either side of the 10% liquidation threshold for 10x leverage. Whether a 10x long position near the previous low would be liquidated depends on which of these potential drop magnitudes materializes.

    Frequently Asked Questions

    Where does Killa believe Bitcoin’s established low is?
    Killa stated in his October 2nd post that the established low is $82,500, referring to a price point confirmed by the market and previously acting as support. Binance daily charts from September 24th to October 1st show six days where the lowest price fell between $82,563 and $83,186.

    What was the deepest price drop below an established low during the 2023 bull market for Bitcoin?
    According to Killa’s reference to the 2023 bull market, price sweeps below established lows only breached a maximum of 8%, with some recovering after only 4% to 5% declines. Calculated from $82,500, a 4% to 8% drop would range from approximately $79,200 to $75,900.

  • Tether enables USDT on Bitcoin via private transfers and swaps

    Tether enables USDT on Bitcoin via private transfers and swaps

    Tether’s Flagship Stablecoin Returns to Bitcoin Roots

    Tether is bringing its flagship stablecoin, USDT, back to its origins on the Bitcoin network. The relaunch, slated for October 2026, will introduce private transfers, direct BTC-USDT swaps, and loans collateralized by Bitcoin, all facilitated through an infrastructure project named Utexo. This move marks a significant homecoming for the world’s most prominent stablecoin, which has spent the past decade primarily operating on Ethereum and Tron.

    Tether CEO Paolo Ardoino announced the impending return on X in September 2026 with a concise message: “It’s coming home.”

    Utexo: The Infrastructure for Bitcoin-Native USDT

    Founded in 2025, Utexo secured a commercial license from Tether to issue USDT on the Bitcoin network. The project successfully raised $7.5 million in early 2026 to develop the necessary infrastructure. The technical backbone of Utexo is a combination of the RGB protocol and Bitcoin’s UTXO (unspent transaction output) model. The UTXO model functions akin to tracking individual bills in a wallet rather than a single running balance, offering a granular approach to managing Bitcoin.

    The RGB protocol enables assets to operate on top of Bitcoin through client-side validation. This method allows parties involved in a transaction to verify data themselves, meaning that most transaction details are not broadcast to the public ledger, thereby enhancing privacy.

    Key Features of the Relaunch

    This innovative design underpins the three core features of the Utexo platform:

    • Private USDT Transfers: Users will be able to send USDT with enhanced privacy.
    • Direct BTC-USDT Swaps: The platform will facilitate direct exchanges between Bitcoin and USDT without the need for intermediaries.
    • Bitcoin-Backed Loans: Users can obtain loans using their native Bitcoin as collateral.

    The initial launch is planned for Bitcoin’s mainnet, with support for the Lightning Network, Bitcoin’s scaling solution for faster payments, expected to be integrated at a later stage.

    Addressing Illicit Activity

    The introduction of privacy features in a stablecoin naturally raises concerns about potential misuse by bad actors. Utexo’s approach to this challenge involves maintaining a blacklist of UTXOs associated with illicit activities. This method differs from the account-based freezes common on other blockchains, where an entire address is locked. Instead, it functions more like flagging specific transactions or “bills” rather than freezing an entire account.

    Early Demand and Institutional Interest

    Early indicators suggest significant demand for Utexo’s offerings. Over 450 businesses, including cryptocurrency exchanges and wallet providers, have already expressed interest. Furthermore, there are ongoing discussions with major financial institutions, with Morgan Stanley reportedly among those involved. While these talks are not confirmed deals, they highlight the potential for broad adoption.

    A Return to USDT’s Origins

    The initial launch of USDT in 2014 occurred on the Omni Layer, a protocol built on top of Bitcoin. Over time, Tether migrated its primary issuance to Ethereum and Tron, seeking the faster transaction speeds and lower fees better suited for stablecoin traffic. Omni issuance was fully discontinued in August 2023. In 2025, Tether announced its integration plans with RGB, paving the way for the current Utexo initiative.

    The ability to conduct BTC-USDT swaps and Bitcoin-backed loans natively on Bitcoin could reduce reliance on wrapped tokens like WBTC, which introduce custodial and smart contract risks.

    The phased rollout, beginning with the mainnet launch in October 2026 and followed by Lightning Network support, aims to fully realize this vision. For the more than 450 businesses that have shown early interest, the coming months will be crucial in determining whether this enthusiasm translates into concrete integrations.

  • Bitcoin Surges Past $86K as “Uptober” Rally Ignites

    Bitcoin Surges Past $86K as “Uptober” Rally Ignites

    Bitcoin Reclaims $86,000 as October Rally Gains Momentum

    The cryptocurrency market has begun October with significant upward momentum, as Bitcoin surged over 2% to trade around $86,150. This rally, dubbed “Uptober,” is being fueled by a bullish price target revision from Citi and a resurgence in spot Bitcoin ETF inflows.

    Market Strength and Price Targets

    Bitcoin (BTC) climbed more than 2.2% to approximately $86,150, leading the broader crypto market, which saw a 1.9% gain. The digital asset briefly touched $86,150, pushing back above the critical $85,000 level. This upward movement occurs as Bitcoin enters October, a month historically favorable for the cryptocurrency. In the past 13 Octobers, Bitcoin has closed higher in 10 instances, with an average gain of 18.71%, contributing to the optimistic sentiment surrounding the start of “Uptober.”

    The recent rally has also led to significant liquidations across the market, with approximately 77,543 traders experiencing $324.68 million in liquidations over the past 24 hours.

    Citi’s Bullish Forecast and ETF Inflows

    A primary driver for Bitcoin’s latest surge is a new, optimistic price forecast from Citi. The financial institution has raised its 12-month Bitcoin price target from $82,000 to $113,000. Citi cited increased crypto activity, favorable macroeconomic conditions, and renewed demand for Bitcoin ETFs as key factors supporting this revision. This forecast has bolstered investor confidence as Bitcoin starts the month on a strong footing.

    Adding to the positive sentiment, U.S. spot Bitcoin ETFs recorded net inflows of $102.7 million on October 1. This marks a reversal from the previous day’s outflow of $148.7 million and follows a substantial cumulative inflow streak of $3.1 billion prior to a September 30 outflow.

    Federal Reserve Signals and Market Impact

    Further support for the October rally comes from signals from the Federal Reserve. New York Fed President John Williams indicated that there is “no need for urgency” to raise interest rates again. Following his remarks, data from CME FedWatch showed the probability of an October rate hike falling to approximately 44%. Reduced expectations for an immediate interest rate increase can alleviate pressure on risk assets like Bitcoin.

    Technical Outlook

    Bitcoin’s recent advance has brought its price back towards the upper boundary of its established trading range since its move from $79,500. With BTC trading above $85,957, traders are closely watching to see if it can surpass the recent swing high of $86,837.30. A sustained break above this level could pave the way for further gains, potentially targeting $87,000, $95,000, and $100,000. However, clearing this immediate resistance is crucial for confirming stronger upward momentum. On the downside, a retreat below $85,000 could see Bitcoin retest the $83,000 area.