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Tag: Positive

  • Strive Buys $169M Bitcoin in Largest Purchase in Four Months

    Strive Buys $169M Bitcoin in Largest Purchase in Four Months

    Strive Acquires 2,000 Bitcoin in Largest Purchase in Four Months

    Strive, a publicly traded company, significantly expanded its Bitcoin holdings last week, acquiring 2,000 BTC in its largest single purchase in four months. The company disclosed in a filing with the Securities and Exchange Commission (SEC) that it paid an average of approximately $84,422 per coin between September 28 and October 2, amounting to an investment of roughly $169 million.

    This latest acquisition follows a substantial purchase of 2,500 Bitcoin between May 23 and June, which at the time increased Strive’s total holdings to 19,000 BTC. As of October 2, Strive’s total Bitcoin reserves now stand at 29,462 BTC. Valued at an average price of around $86,000 per coin, these holdings represent a market value of approximately $2.5 billion.

    Strive operates as a Bitcoin treasury company, a business model that involves raising capital from investors and allocating it to Bitcoin rather than traditional cash reserves. The company’s significant growth in Bitcoin reserves was further bolstered by its agreement in September 2025 to acquire Semler Scientific, a healthcare technology firm that held approximately 5,000 Bitcoin.

    Shareholders approved this acquisition in January, consolidating a combined Bitcoin stash of about 12,800 BTC. By late April, Strive’s holdings had grown to 14,557 Bitcoin, and by mid-August, this figure had reached 20,246 BTC.

    The cryptocurrency market has seen considerable movement since these acquisitions, largely in a direction favorable to Bitcoin holders. The average price of Bitcoin last week was approximately 41% higher than the figure recorded in July. Consequently, Strive’s Bitcoin holdings have appreciated by 48% in dollar value since July 2.

    While the recent SEC filing does not specify the exact source of funds for last week’s purchase, Strive has primarily raised capital in recent weeks through the sale of SATA, a type of preferred stock. SATA shares offer holders regular dividend payments ahead of ordinary shareholders. In the week ending September 4, SATA accounted for 70% of capital raised, and this figure rose to 85% in the week ending September 25.

    Each SATA share has a stated value of $100, and Strive currently offers an annual dividend rate of approximately 13%. This rate is adjustable, and the company previously announced its intention to begin paying dividends daily starting June 16. In practical terms, investors provide cash to Strive, which in turn pays out roughly $13 annually for every $100 share. As Bitcoin does not generate interest, these dividend payments must be funded from Strive’s existing cash reserves or through further capital raises. The company’s filing indicates $284.7 million in cash and no outstanding debt.

    The filing also notes that Strive’s average cost per Bitcoin at the end of September was $90,170, a figure that is above the approximate $86,000 trading price of Bitcoin on Monday. This means that, on paper, Strive’s current Bitcoin position is valued at less than its acquisition cost.

    For individuals unfamiliar with cryptocurrency, Strive’s structure offers a straightforward way to gain exposure to Bitcoin. Its stock, traded on the Nasdaq, allows investors to speculate on Bitcoin’s price movements through conventional brokerage accounts. The SATA preferred stock, meanwhile, provides a dividend stream from a company holding a substantial Bitcoin portfolio.

    According to Bitcoin Treasuries, Strive ranks fifth among public companies holding Bitcoin. It trails Strategy, Twenty One Capital, Metaplanet, and MARA. Twenty One Capital currently holds 43,514 Bitcoin, with Strive now holding 14,052 fewer coins than that entity.

  • Meta AI Forecasts Double-Digit XRP Price by 2026

    Meta AI Forecasts Double-Digit XRP Price by 2026

    Meta AI, the artificial intelligence developed by Mark Zuckerberg’s company, has projected a significant surge for XRP, predicting it could surpass $10 this year. This forecast, representing an eightfold increase from its current approximate price of $1.50, hinges on a confluence of factors: a robust cryptocurrency bull market, institutional fear of missing out (FOMO), and a truly transformative catalyst.

    A Transformative Scenario

    Meta AI outlines a highly improbable, yet not impossible, scenario for XRP’s ascent. This vision involves Ripple announcing that XRP has been officially designated as a global settlement and bridge asset by a consortium of major banks and payment networks. Crucially, this would signify the commencement of real-world transactions across multiple corridors, moving beyond pilot programs or partnerships to production-level settlement at scale.

    The hypothetical announcement would involve Ripple, several prominent global banks, a leading card or payment network, and potentially a significant initiative related to central bank digital currencies (CBDCs). Such a declaration would effectively confirm XRP’s utilization for cross-border transactions.

    Groundwork for Growth

    Elements of this scenario are not entirely speculative. XRP is already seeing institutional interest through spot ETFs, and Ripple has been actively expanding its regulated payments infrastructure. Furthermore, the XRP Ledger has demonstrated its capability by facilitating a cross-border transaction involving J.P. Morgan’s Kinexys, Mastercard, Ondo, and Ripple, with a tokenized Treasury asset leg settling in under five seconds.

    Technical Outlook

    From a technical standpoint, the outlook for a “moonshot” scenario is considered quite interesting. XRP is currently trading around $1.51, holding above all eight monitored moving averages. The 50-day moving average is above the 200-day, and the daily Relative Strength Index (RSI) hovers around 58, indicating bullish momentum without being excessively overbought.

    Immediate key resistance levels are identified at approximately $1.52 and then around $1.60–$1.66. Support is found near $1.49 and $1.40. A sustained break above the $1.60–$1.70 range would be significant, as $1.70 has historically acted as a strong resistance point. XRP’s previous all-time high stands at around $3.65, suggesting that a move beyond this level would propel the asset into uncharted price discovery territory.

    The technical roadmap for such a significant price increase would progress through stages: $1.70, then $2, $2.50, the all-time high of $3.65, followed by $5, $7.50, and ultimately $10. The most compelling aspect of this projection lies in what transpires above the $3.65 all-time high, where historical price discovery is limited. If XRP breaks this barrier on substantial volume, coupled with a shift in the fundamental narrative, technical resistance would become far less influential.

    While XRP’s institutional event calendar supports a long-term bullish case, near-term gains remain contingent on confirmed news and sustained price momentum. A strong headline can elevate expectations, but it does not guarantee enduring demand.

    Alternative Risk Profiles

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

    One such token is Maxi Doge ($MAXI), an Ethereum ERC-20 meme token centered around a large canine character and a trading community identity that embraces 1000x leverage. Its presale price is set at $0.0002841, with $4.8 million already raised. The project also features a substantial 60% APY in staking rewards, trading competitions exclusively for holders with leaderboard prizes, and a Maxi Fund treasury dedicated to liquidity and partnerships. The project explicitly positions itself as meme-first, rather than claiming established utility, acknowledging the role of memes in attracting individuals to the cryptocurrency sector.

  • OKX and ICE File with SEC for Tokenized Stock Trading Exchange

    OKX and ICE File with SEC for Tokenized Stock Trading Exchange

    OKXICE LLC, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), has filed with the U.S. Securities and Exchange Commission (SEC) to establish a regulated exchange for trading tokenized U.S. stocks. The initial offering is expected to include 63 companies listed on the New York Stock Exchange (NYSE).

    The filing, which occurred on October 4, aims to allow for the trading of tokenized versions of U.S. equities. Companies whose stocks are selected for tokenization will have a 30-day period to opt out before trading can commence. This venture combines OKX’s blockchain infrastructure with ICE’s market technology.

    According to a report by Bloomberg, the SEC introduced its temporary Innovation Exemption in September. This exemption permits certain tokenized securities venues to facilitate secondary trading of tokenized U.S. stocks through permissioned automated makers and liquidity pools, provided specific conditions are met. These conditions include that tokenized shares must carry the same shareholder rights as the underlying securities, smart contracts must be auditable and run on public, permissionless blockchains, and trading must cease if the underlying stock is suspended on its primary exchange.

    As CryptoPotato reported, Coinbase had previously announced in June plans to offer tokenized stocks to customers outside the U.S., with shares backed 1:1 by the underlying assets and carrying shareholder rights. This move predated the SEC’s September exemption and indicated a growing trend among crypto exchanges to explore connections with stock trading infrastructure.

    The filing by OKXICE LLC represents one of the first attempts by a crypto exchange to offer tokenized U.S. stocks through a regulated exchange under the SEC’s temporary regulations. The partnership with ICE, which acquired a stake in OKX in March, provides a foundation for combining exchange infrastructure with blockchain-based trading. This framework could potentially enable round-the-clock trading of U.S.-listed stocks, subject to the SEC’s stipulated conditions.

    However, the launch of OKX’s tokenized stock trading platform is contingent on regulatory processes and the decision of the 63 NYSE-listed companies to participate. The exact date of the launch remains uncertain, depending on the completion of the 30-day notice period and other requirements outlined by the SEC. Whether these companies will opt out of the tokenized stock trading remains a key uncertainty.

    Why This Matters

    The materials describe a narrow update: OKXICE LLC, a joint venture between OKX and ICE, has filed with the SEC to establish a regulated exchange for trading tokenized US stocks. Whether the 63 NYSE-listed companies will opt out of the tokenized stock trading.

    Broader Context

    Source materials place the factual news in this context: The SEC introduced its temporary Innovation Exemption in September, allowing certain tokenized securities venues to facilitate secondary trading of tokenized US stocks through permissioned automated makers and liquidity pools.

  • CFTC Offers Limited-Time Regulatory Path for Crypto Futures to Become True Perpetuals

    CFTC Offers Limited-Time Regulatory Path for Crypto Futures to Become True Perpetuals

    A narrow regulatory window, expiring June 30, 2026, now allows U.S. exchanges to convert existing perpetual-style crypto futures contracts into true perpetuals, provided specific conditions are met. The CFTC’s Division of Market Oversight issued Staff Letter No. 26-19 on June 12, 2026, granting conditional no-action relief to designated contract markets (DCMs).

    This guidance permits DCMs to remove expiration dates from qualifying digital commodity futures contracts, effectively transforming them into true perpetual futures. A no-action letter signifies that the CFTC staff will not recommend enforcement action if certain conditions are followed. This move is not a new rule but rather a written assurance that specific actions will not draw regulatory scrutiny under the outlined circumstances.

    Expedited Conversion Pathway
    The primary benefit of this relief is speed. Ordinarily, altering contract terms can trigger self-certification timing requirements under CFTC Regulation 40.6. Staff Letter No. 26-19 allows DCMs to bypass these usual delays by dropping expiration dates. This action was prompted by requests from Bitnomial Exchange, LLC, and Coinbase Derivatives, LLC, which sought relief for 16 and 22 contracts, respectively.

    Conditions and Eligibility
    However, the relief is conditional. Only contracts tied to digital commodities with “deep, active, and continuous” spot markets are eligible. Bitcoin is cited as a prime example of such an asset. Exchanges must still submit amendments under CFTC Regulation 40.5 or 40.6, certifying compliance before implementing any changes. Furthermore, DCMs are required to solicit market feedback and fulfill risk disclosure obligations.

    Limited Timeframe and Market Impact
    The relief takes effect immediately but expires on June 30, 2026, providing exchanges with a window of under three weeks to act. This limited timeframe suggests a controlled, time-boxed transition rather than an open-ended exemption. Exchanges that miss this window may need to pursue the standard regulatory process.

    This development aligns U.S.-regulated markets with recent CFTC decisions regarding perpetual futures for digital commodities. The approval of KalshiEX LLC’s BTCPERP contract previously set a precedent, making the status of “perpetual-style” contracts with distant expiration dates—some extending up to 25 years—increasingly outdated. Staff Letter No. 26-19 aims to close this gap, allowing exchanges to convert existing products rather than launching entirely new listings.

    For traders, the change offers greater clarity, as a perpetual contract without an expiration date is simpler to understand than one with a distant, regulatory-driven expiry. The eligibility rule is also expected to shape competition, likely concentrating the first wave of true perpetuals around the most established digital commodities, with Bitcoin at the forefront.

    Remaining Uncertainties
    Several uncertainties remain. The exact process Bitnomial and Coinbase Derivatives will employ for contract conversion and how they will handle the required risk disclosures are yet to be detailed. Additionally, it is unclear whether exchanges that do not act before the June 30 deadline will successfully navigate the standard CFTC process.

    Future amendment filings under Regulations 40.5 and 40.6 will provide insight into how quickly exchanges convert their contracts and manage the necessary disclosures.

    Why This Matters

    The materials describe a narrow update: The CFTC’s Division of Market Oversight issued a no-action letter (Staff Letter No. The exact process Bitnomial and Coinbase Derivatives will use to convert their contracts.

    Broader Context

    Source materials place the factual news in this context: The letter aligns US-regulated markets with recent CFTC decisions on how perpetual futures for digital commodities should be treated.

  • Securitize CEO Carlos Domingo Advocates for Blockchain-Based Shareholder Records

    Securitize CEO Carlos Domingo Advocates for Blockchain-Based Shareholder Records

    Securitize CEO Carlos Domingo is advocating for the adoption of blockchain technology to serve as the definitive ledger for public company ownership, a move that would fundamentally alter the current system of shareholder record-keeping reliant on multiple intermediaries.

    The Problem with Traditional Systems

    The core proposition, according to Securitize, is to replace the complex, layered infrastructure involving entities like the Depository Trust Company (DTC) with a blockchain-based register. This onchain ledger would provide issuers with direct insight into their capitalization tables and streamline communication with shareholders, dividend payments, and proxy voting processes.

    Currently, the system is described as akin to a “game of telephone,” where layers of intermediaries obscure beneficial ownership, making direct engagement with shareholders administratively challenging for companies. Securitize’s pitch is that a blockchain ledger cuts through this opacity, offering a clearer, real-time view of ownership.

    Securitize’s Blockchain Proposal

    Securitize, which is an SEC-registered transfer agent, proposes that the blockchain itself become the ledger of record, operating within existing legal and regulatory frameworks. Under this model, shareholders would retain their existing rights, with the primary change being the method of record-keeping. This approach is distinct from freely circulating crypto assets, as it incorporates mandatory Know Your Customer (KYC) checks and whitelisting for all participants, ensuring only verified parties can trade.

    Market Actions and Partnerships

    This initiative aligns with a broader trend in asset tokenization that favors issuer-led structures. Securitize has actively demonstrated this model. On July 2, 2026, the company listed on the New York Stock Exchange under the ticker SECZ, tokenizing approximately $295 million of its common stock on the Solana and Avalanche blockchains. This event marked a significant equity tokenization milestone.

    Further illustrating its commitment to this model, Securitize partnered with Computershare in April 2026 to enable US issuers to create Issuer-Sponsored Tokens (ISTs). A key feature of ISTs is that shareholders maintain their full rights, including dividends and voting, with ownership recorded on the onchain ledger. Securitize currently oversees between $4 and $5 billion in tokenized assets.

    Benefits for Issuers and Investors

    For public companies, a transparent, real-time capitalization table could significantly reduce the administrative burden associated with shareholder communications, dividend disbursements, and proxy voting. For investors, the IST model ensures that dividends and voting rights remain intact, with their ownership position visible on a ledger accessible to the issuer.

    Uncertainties and Future Outlook

    However, the widespread adoption of this blockchain-based system faces uncertainties. Key questions remain regarding how many US issuers will utilize the Computershare partnership to launch ISTs and how Securitize’s own tokenized shares will perform in practice, particularly concerning onchain dividends and voting. These factors will be crucial in observing the evolution of blockchain in corporate governance.

    Why This Matters

    The materials describe a narrow update: Securitize, an SEC-registered transfer agent, proposes using blockchain as the definitive ledger for public company ownership, aiming to provide issuers with direct insight into their capitalization tables and simplify investor communication, dividend payments, and proxy voting. How many US issuers will adopt the Computershare partnership to launch ISTs.

    Broader Context

    Source materials place the factual news in this context: Securitize CEO Carlos Domingo is advocating for companies to communicate with investors digitally, replacing paper forms and mailed proxy votes with blockchain-based shareholder records.

  • SEC, CFTC Joint Guidance Classifies 16 Digital Assets as Commodities, Clarifying Regulatory Path

    SEC, CFTC Joint Guidance Classifies 16 Digital Assets as Commodities, Clarifying Regulatory Path

    The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have jointly issued an interpretive release classifying 16 major digital assets as ‘digital commodities.’ This guidance, unveiled on March 17, 2026, shifts these assets out of the securities classification and places them under the primary oversight of the CFTC in spot markets, according to the guidance. The move clarifies existing law through interpretive rules rather than new legislation, addressing a long-standing debate within the industry.

    Regulatory Landscape Shift

    During a joint presentation, SEC Chairman Paul Atkins and CFTC Chairman Michael S. Selig outlined the guidance, which categorizes digital assets into five groups: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities. Only the last of these buckets is typically treated as a security under U.S. law, according to the guidance. Bitcoin, Ether, Solana, Stellar, Tezos, and XRP were specifically named as digital commodities by the CFTC chairman.

    Context and Precedent

    This classification follows the resolution of significant legal challenges, notably the years-long litigation between Ripple and the SEC over XRP sales. All appeals in that case were dropped in August 2025, and regulators concluded that XRP’s programmatic sales do not constitute securities transactions. The commodity classification for these assets is seen as a direct consequence of this resolution and the agencies’ response to the lack of congressional action on comprehensive digital asset regulation.

    Limitations and Future Outlook

    While digital commodities are now under the CFTC’s anti-fraud and anti-manipulation jurisdiction in spot markets, the guidance emphasizes that this does not mean they are unregulated. Regulators maintain the authority to pursue fraudulent activity across the entire digital asset space. However, the reliance on interpretive rules rather than new legislation introduces inherent uncertainties. Guidance issued by one set of agency heads can be revisited by the next, and comprehensive market structure rules still require congressional action.

    On October 5, 2026, CFTC Chairman Selig announced the agency’s intention to advance new regulations covering leveraged retail trading of digital assets. This indicates a move by the CFTC to expand its regulatory focus beyond asset classification to encompass trading rules. Despite these steps, legislative efforts such as the CLARITY Act have stalled, underscoring the ongoing challenge of establishing a definitive regulatory framework through Congress.

    The guidance effectively moves these assets to the commodity side of the U.S. regulatory divide, supervised by the CFTC. However, the limitations of agency action versus legislative frameworks remain a key uncertainty. The classification provides a degree of regulatory clarity for major digital assets, but the future evolution of these rules may depend on further agency action or eventual congressional legislation.

    Why This Matters

    The materials describe a narrow update: The SEC and CFTC released a joint interpretive release classifying 16 major digital assets as ‘digital commodities’, moving them out of the securities classification. The long-term impact of agency guidance versus congressional action on comprehensive market structure rules.

    Broader Context

    Source materials place the factual news in this context: For an industry that spent years arguing over what its biggest tokens actually are, that is a short sentence with a long backstory.

  • Treasury Backs Down on Crypto Wallet Rules

    Treasury Backs Down on Crypto Wallet Rules

    Treasury Scraps Proposed Rules on Unhosted Crypto Wallets and Mixers

    The U.S. Treasury Department has withdrawn two significant proposed rules that would have imposed new reporting requirements on transactions involving unhosted cryptocurrency wallets and convertible virtual currency mixing services. The decision, announced by the Financial Crimes Enforcement Network (FinCEN), signals a shift in the regulatory approach to digital assets and resolves years of industry uncertainty.

    The first proposal, initially introduced in December 2020, aimed to require banks and money services businesses to maintain records for certain transactions involving unhosted wallets exceeding $3,000 and to report those surpassing $10,000. It also mandated that financial institutions gather and verify customer and counterparty information for specific transactions with private wallets.

    A separate proposal, put forth in 2023 under Section 311 of the USA PATRIOT Act, sought to designate transactions involving convertible virtual currency (CVC) mixers as a primary money laundering concern. This would have compelled financial institutions to collect and report data related to transactions utilizing these privacy-enhancing services.

    FinCEN stated that the withdrawals align with the administration’s objective to develop digital asset regulations that are “fit-for-purpose.” The move has been welcomed by cryptocurrency industry groups that had voiced strong opposition to the proposed measures. The Digital Chamber, for instance, indicated that the withdrawal alleviates regulatory pressure concerning self-custodial wallets.

    With these proposals rescinded, the crypto industry is no longer subject to the two frameworks, while existing anti-money laundering (AML) and financial regulations remain in effect. The withdrawn rules would have imposed additional obligations on regulated financial institutions when customers transferred cryptocurrency to private wallets. The Treasury’s decision means there is no new federal mandate compelling banks or exchanges to identify the owner of a self-hosted wallet solely based on a customer sending funds to it.

  • Bitcoin Treasury Buys 3,342 BTC Amid Liquidity Shift

    Bitcoin Treasury Buys 3,342 BTC Amid Liquidity Shift

    Corporate Treasuries Boost Bitcoin Holdings Amid Shifting Stablecoin Flows

    Public treasuries continued their aggressive accumulation of Bitcoin this past week, adding a combined 3,342 BTC and pushing tracked corporate holdings to a significant 922,971 BTC. This influx, valued at approximately $286.31 million between September 28th and October 4th, underscores a persistent corporate appetite for the digital asset.

    Key Accumulators Emerge

    Among the notable additions, Michael Saylor’s strategy accounted for 334 BTC, bringing its total holdings to 848,000 BTC. Strive Asset Management emerged as the week’s largest purchaser, acquiring 2,000 BTC and raising its reserves to 29,462 BTC. Metaplanet also contributed to the trend, adding 1,000 BTC to reach a cumulative total of 44,000 BTC, while Remixpoint bolstered its reserves by 8 BTC, bringing its holdings to 1,509 BTC. Collectively, these tracked public treasuries now hold 922,971 BTC, currently valued at $79.07 billion based on Bitcoin’s prevailing exchange price. This concentration of corporate exposure was highlighted by data from LookOnChain on X.

    Stablecoin Liquidity Shows Divergent Trends

    In contrast to Bitcoin’s steady accumulation, stablecoin liquidity presented a more complex picture. While the global net stablecoin supply expanded by $715.8 million, Ethereum experienced substantial net outflows totaling $974 million. However, other blockchains demonstrated significant inflows, with Solana absorbing $371 million and Tron attracting $215 million. Base followed with $70.6 million, joined by Arc ($54.2 million) and Arbitrum ($41.7 million). This rotation suggests a selective movement of capital rather than a broad-based surge in risk appetite.

    Decentralized Exchange Volumes Decline, GMX Soars

    Further data indicates a slowdown in decentralized exchange (DEX) activity. Spot volume across DEXs fell 3.92% week-over-week to $59.24 billion, while perpetual volume saw a steeper decline of 9.85%, reaching $138.12 billion. Hyperliquid remained the dominant decentralized perpetual venue, posting $41.53 billion despite a 24.31% decrease. Several other platforms, including Variational, Lighter, and Aster, also experienced weekly contractions. An outlier in this trend was GMX, which surged an impressive 243.76% to $8.22 billion.

    Despite the shifting stablecoin capital across chains and a general cooling of decentralized derivatives activity, Bitcoin treasury accumulation remains a robust trend.

  • Bitcoin’s Golden Cross Strengthens: What Investors Need to Know

    Bitcoin’s Golden Cross Strengthens: What Investors Need to Know

    Bitcoin Starts the Week on Firm Footing as Investors Eye Fed Policy Shift

    Bitcoin is beginning the week with upward momentum, though it has yet to decisively break through a key resistance level. Nevertheless, investors have cause for optimism.

    The leading cryptocurrency was trading around $86,100 on Monday morning, marking a 1.14% increase over the preceding 24 hours and boasting a market capitalization of $1.73 trillion. The broader cryptocurrency market is valued at $2.94 trillion, up 1.36% on the day. The Fear & Greed Index currently stands at 68, remaining in “greed” territory and indicating a stabilization of sentiment following a dip from “extreme greed” readings last month.

    The catalyst for this shift appears to be Friday’s disappointing jobs report, which, while unfavorable for the economy, proved beneficial for risk assets. According to the Bureau of Labor Statistics, U.S. employers added only 29,000 positions in September, a figure roughly one-third of economists’ expectations. The unemployment rate consequently rose to 4.2%.

    Revisions to previous data further exacerbated the negative economic picture. July’s job gains were revised downward from 21,000 to a loss of 10,000 jobs, and August’s figures were cut from 162,000 to 133,000. Annual wage growth also cooled, settling at 3.0%.

    This scenario—bad news for workers translating into good news for risk assets—reflects a peculiar dynamic in the current economic cycle.

    The Federal Reserve had previously raised interest rates by a quarter point to 3.75%-4.00% on September 16, a decision met with unanimous approval. Just a week prior to Friday’s report, bond traders had assigned a 64% probability to an October rate hike. Following the jobs data, those odds plummeted to approximately 16%-22%, depending on the specific market snapshot.

    This situation is a stark contrast to the previous month. On September 4, a robust August jobs report had sent Bitcoin tumbling by more than 2% to near $79,300 as rate hike expectations surged. Bitcoin is now trading approximately 8% above that level.

    Equities also reacted positively. The S&P 500 closed Friday at 7,722.72, up 0.73%, while the Nasdaq gained 1.19% to 27,190.86, and the Dow added 0.49% to 51,176.96. Nvidia reached a new record high, and stock futures saw a slight increase on Sunday night.

    Altcoins presented a mixed performance. Ethereum was trading at $2,711, up 0.59%, and XRP at $1.51, up 0.81%. Solana, however, slipped 0.91% to $120.31. While all of the top 10 altcoins were in positive territory, none had moved more than 1%, with the exception of Hyperliquid, which surged 3.68% on the day to $93.17 and was up 6% for the week.

    Demand for Bitcoin ETFs also remains strong. U.S. spot Bitcoin ETFs recorded net inflows of $189.84 million in the latest daily reading, bringing their total net assets to $101.1 billion, according to data from Decrypt.

    Technical indicators suggest a degree of hesitation. On the daily chart, the high of $87,354 remains a critical level to overcome.

    Momentum, however, appears robust. The Relative Strength Index (RSI), which measures the magnitude of recent price changes to evaluate overbought or oversold conditions, stands at 64.7. While this indicates strong upward movement, it is not yet in the “extremely overbought” territory (above 70). The Average Directional Index (ADX), which gauges trend strength irrespective of direction, is at 43.4, suggesting a strong trend is in place (readings above 25).

    Exponential Moving Averages (EMAs), which give more weight to recent prices, also offer bullish signals. The chart shows the 50-day EMA above the 200-day EMA, a classic “golden cross” formation that occurred in mid-September. This period coincided with Bitcoin’s second-best monthly performance on record.

    An even more significant bullish indicator has recently emerged: the 100-day EMA has now crossed above the 200-day EMA. This development, illustrated by the dotted white line on the accompanying chart, is considered a stronger signal because it is more difficult to achieve. While a sharp short-term rally can push the 50-day EMA above the 200-day EMA, for the slower 100-day EMA to cross the 200-day EMA, Bitcoin’s price must remain elevated for an extended period, indicating a sustained rebuilding of its medium-term trend rather than just a bounce from lower levels.

    The confluence of these two golden crosses suggests that both short-term and medium-term price averages are now above the long-term average, providing a strong confirmation of the prevailing upward trend. It is important to note, however, that EMAs are lagging indicators, confirming past price action rather than predicting future movements.

    On Myriad, a prediction market operated by Decrypt’s parent company Dastan, traders are expressing bullish sentiment for a short-term price increase. In the October highs market, the probability of Bitcoin touching $87,500 is priced at 80%, $90,000 at 59%, $95,000 at 25%, and $100,000 at 12%.

    Looking ahead, the upcoming week’s economic calendar, though brief, is significant. The Federal Reserve is scheduled to release the minutes from its September meeting on Wednesday, October 7, at 2:00 p.m. ET. The Bureau of Labor Statistics will publish September’s Consumer Price Index (CPI) data on October 14. The Fed’s next policy meeting is slated for October 27-28, with a press conference scheduled for October 28 at 2:30 p.m. ET.

  • XRP Surges Past Bitcoin in Korean Trading Volume, Eyes $2

    XRP Surges Past Bitcoin in Korean Trading Volume, Eyes $2

    XRP Surges as South Korean Trading Volume Outpaces Bitcoin

    XRP has seen a significant price jump, climbing over 1.5% to near $1.51 in the past 24 hours, fueled by a surge in trading activity originating from South Korea. The XRP/KRW trading pair on the local cryptocurrency exchange Upbit recorded an impressive $72.3 million in 24-hour volume, surpassing that of Bitcoin’s BTC/KRW pair, which stood at $66.4 million.

    Institutional Demand Continues to Bolster XRP

    This heightened trading activity in South Korea coincides with sustained institutional interest, evidenced by consistent inflows into U.S. spot XRP Exchange Traded Funds (ETFs). These funds have now recorded $4.74 million in weekly net inflows for the twelfth consecutive week. Bitwise, a prominent player in this space, led the latest inflows with $2.11 million, bringing its cumulative net inflows to over $678.4 million.

    Veteran Trader Eyes Key Breakout Level for XRP

    Veteran trader Peter Brandt has identified a potential bullish reversal pattern forming on XRP’s chart, suggesting an inverse head-and-shoulders formation around the $1.55 mark. This level is considered critical, as XRP is currently testing the pattern’s neckline, which could dictate its next significant price movement.

    Brandt’s analysis indicates that a confirmed breakout above the $1.55 area is necessary to validate the pattern and signal increased buying pressure. Should XRP successfully breach this resistance, the next major hurdle is seen near $1.6572. A decisive move above this point could pave the way for price targets of $1.70 and subsequently the $2.00 region. Brandt has also drawn parallels between the current chart setup and historical breakout patterns that preceded XRP’s major rallies in 2017 and late 2024.

    The surge in Korean trading interest may have been further amplified by the recent launch of XRP Asia during Korea Blockchain Week at the Grand Hyatt, potentially increasing local engagement with the cryptocurrency.

    Upcoming XRP Ledger Updates Poised to Enhance Network Functionality

    Looking ahead, two significant updates to the XRP Ledger are anticipated to go live around October 8-9, 2026. The Batch (V1.1) and Permission Delegation updates are designed to enhance network speed and user-friendliness, particularly for large-scale transactions. These improvements are expected to increase the XRP Ledger’s utility for financial institutions and major corporations.