The downward trend in sales for both Bitcoin and altcoins has not concluded. The opening of the CME Bitcoin and equities futures market this Sunday will significantly influence the future direction of the BTC price.
BitMine's President, Tom Lee, characterized the recent market pullback as an anticipated correction. The market has risen 36% since April, leading to today's significant decline, the largest in six months. The VIX, a measure of market fear, experienced a substantial increase, marking a historically significant move. Lee emphasized that this decline was foreseeable given the prior rally. BitMine made considerable investments in Ethereum today, acquiring 41,421 ETH, valued at roughly $158 million. Data from Lookonchain confirmed these substantial purchases within the current market conditions. The firm’s actions suggest a strategic response to the recent market movement. This activity indicates confidence in Ethereum’s future prospects. Despite the recent volatility, Lee anticipates positive returns for the next week or month. He doesn’t believe the market has reached its lowest point currently. Lee suggests that a potential market increase is likely in the coming week. He remains optimistic about the overall market trajectory.
Recent SUI price activity indicates a downward trend. There is a potential for a further decrease of approximately 40%.
Documents from SIA, an Italian payments infrastructure provider, show that Ripple is supported within their private DLT architecture. SIA functions as a connectivity provider, enabling access to Eurosystem services like TARGET2 and T2S through ESMIG. SIAnet offers secure messaging and value-added services, including support for various DLTs like Ripple, Corda, and Ethereum. A key point of contention is the difference between a vendor’s technical capabilities and the Eurosystem’s official adoption. SIA providing Ripple connectivity does not signify formal integration into the Eurosystem’s frameworks. The slides confirm SIA's broader interoperability options, not Ripple's operational inclusion within ESMIG. ESMIG serves as a public interface standard for connecting to central banking services, operated by the Eurosystem. There is no indication within publicly available documents that Ripple is embedded within ESMIG or officially endorsed by the ECB. Official integration would require documentation from Eurosystem authorities.
Bitcoin recently reached a record high, driven by institutional buying and ETF investments. Analysts predict Bitcoin could reach $400,000, with some observing recurring patterns suggesting significant breakouts. Despite a recent correction, Bitcoin remains within a range anticipated by optimistic analysts. The cryptocurrency has seen substantial growth over the past year, indicating ongoing trader confidence. Mutuum Finance (MUTM) is a DeFi platform attracting investor attention during its presale, currently in Phase 6. The presale has sold over 60% of tokens, with more than 16,840 investors committing over $17.1 million. The platform aims to introduce its Version 1 lending and borrowing protocol on Sepolia Testnet in Q4 2025. Mutuum Finance features dynamic Loan-to-Value (LTV) and liquidation terms adjusting to market conditions. The platform’s security is further enhanced through reserve multipliers and a collateral management system designed to optimize lending capacity. ETH and USDT will be available on day one for collateralization.
HSBC is purchasing the remaining 37% stake in Hang Seng Bank for $13.6 billion, solidifying its complete ownership of the Hong Kong-based lender. This investment aims to foster growth within Hong Kong’s leading local bank, aligning with HSBC's strategic focus on the UK and Hong Kong. The acquisition will eliminate a capital buffer reduction related to minority ownership and enhance investment scaling capabilities across brands. HSBC has been strategically restructuring, exiting markets like Europe and Argentina, and concentrating on core regions. Hong Kong currently contributes significantly to HSBC’s profitability, generating 28% of its total pre-tax profit, surpassing the UK. Analysts view this takeover as simplifying HSBC's structure within its most profitable market, and leveraging substantial excess capital. Hang Seng Bank's operations are heavily tied to the local economy and particularly exposed to Hong Kong’s property sector, facing challenges following China's property bubble burst. Recent economic headwinds have resulted in reduced pre-tax profits and an increased non-performing loan ratio for Hang Seng. HSBC has replaced the bank's leadership and is managing the associated risks within the commercial real estate loan portfolio.
The recent XRP price action has displayed a significant “wick,” marking the second-longest recorded. This event suggests substantial selling pressure from large holders, often referred to as “whales.” A crucial support level for XRP remains in the range of $2.70 to $2.80. This area is closely monitored by market participants. Traders are currently observing how the current candlestick closes. They are also awaiting updates for the fourth quarter of the year for further confirmation of market trends.
XRP experienced a significant price correction of over 40% recently, triggered by U.S.-China tariff shocks. The price fell to around $1.77 before stabilizing at approximately $2.30, a key support zone. Technical indicators suggest XRP broke below a bullish formation, currently trading below its 100-day SMA, but lower wicks on daily candles indicate fresh buying pressure. Despite the short-term weakness, market data reveals robust institutional accumulation of XRP at these support levels. This behavior historically precedes significant rallies in Ripple’s native token and suggests a potential turnaround. Optimism surrounding a possible XRP ETF approval by the U.S. SEC is also bolstering investor sentiment. Investors are exploring alternative opportunities like MAGACOIN FINANCE, a fast-growing presale project that has surpassed $15 million in funding. Built on Ethereum, MAGACOIN FINANCE offers transparency and flexibility. Analysts are comparing its presale momentum to previous high-growth altcoins, projecting potential post-listing gains of 20x–100x.
María Corina Machado has been awarded the 2025 Nobel Peace Prize. She has characterized Bitcoin as "resistance money" for Venezuelans. Machado stated that Bitcoin served as a vital lifeline for Venezuelans during periods of hyperinflation. She believes the cryptocurrency has the potential to play a significant role in the future.
The cryptocurrency market is exhibiting renewed activity after substantial Bitcoin liquidation events. Bitcoin and large investors, often referred to as 'shark' investors, are demonstrating resilience and recovering value following recent significant dips. The original content was first published on COINTURK NEWS.
Global risk sentiment and renewed US-China trade tensions have triggered a market plunge, impacting cryptocurrencies. Bitcoin's price fell significantly, now trading near $111,871 after previously testing $125K resistance. Analysts suggest that macroeconomic factors will continue to influence the market's behavior and BTC's price into the year-end, with a potential retest of the $100K support. Despite market doubts, Dogecoin continues to uphold a decade-long ascending channel, showing algorithmic and institutional trader monitoring. It is currently trading within a range of $0.19 to $0.20, with potential upside towards $0.90 if the bullish pattern sustains. Precise trendlines suggest ongoing institutional and algorithmic involvement in Dogecoin’s market. While major cryptocurrencies face challenges, MAGACOIN FINANCE is attracting attention ahead of upcoming exchange listings. Its community-driven approach, fixed supply, and transparent roadmap position it as a promising project. Analysts project a potential 50x upside as broader participation expands, fueled by whale support and early adoption.
Dogecoin's price has reached a key Imbalance Zone (IMB) around $0.24, which analysts are closely monitoring. This zone represents a potential pivot point, deciding whether DOGE rebounds to $0.27 or continues its decline. The zone has historically acted as a liquidity area where inefficiencies are often filled. A bounce from this level could signal a reversal and begin a new upward leg. Recent market activity suggests a deliberate manipulation and structural break, potentially marking the end of a corrective phase. Buyers are actively defending the $0.235 – $0.245 zone, reacting multiple times within this region. To confirm a bullish trend, DOGE needs to break short-term resistance with increasing momentum. Crypto expert Kaleo observes patterns mirroring past Bitcoin halving cycles, predicting a significant upward move for Dogecoin. Historically, DOGE has broken out from descending triangles after halving events, leading to substantial rallies. Based on this historical data, Kaleo projects a long-term price target of $6.9 for Dogecoin.
María Corina Machado, the Venezuelan opposition leader, has been awarded this year's Nobel Peace Prize. Machado has previously discussed Bitcoin, characterizing it as a form of resistance money.
Following the most significant one-day decline in cryptocurrency history, industry participants were attempting to determine the extent of the losses. The focus was on identifying which entities were left with assets that had depreciated in value following the market downturn. The event prompted a period of assessment and analysis across the entire cryptocurrency sector.
Yi Lihua, founder of Liquid Capital, recently assessed the cryptocurrency market’s recent declines on social media. He attributed the downturn to multiple contributing factors, prompting a significant decision regarding his holdings. Lihua announced his complete liquidation of all positions, a departure from his previous leveraged borrowing strategy. Lihua highlighted Bitcoin’s failure to achieve a strong breakout after reaching a peak, indicating a likely pullback. He voiced concerns about artificial inflation in US stock markets, particularly within the AI and semiconductor sectors. Lihua believes this market surge is unsustainable and resembles a “Ponzi game.” Political shifts and rising interest rate risks in Japan were identified as additional negative influences. The recent memecoin surge has reportedly drained liquidity, negatively impacting altcoins. Lihua noted the broader effect of these factors on the market’s performance.
Konstantin Galish, a cryptocurrency investor and social media personality, died in Kyiv. He was found deceased in his Lamborghini amidst a significant market downturn. Local reports suggest a possible suicide, with allegations surrounding a firearm. Galish was widely known as “Kostya Kudo” online. Galish co-founded the crypto investment firm Cryptology, overseeing approximately $65 million in assets. A portion of these funds, roughly $10 million, was reportedly managed by the Ukrainian Military Intelligence (GUR). The firm's recent token project reportedly suffered substantial losses, contributing to the overall situation. High-ranking Kyiv officials and bureaucrats reportedly invested in the fund. Galish reportedly experienced substantial losses in futures trading linked to the recent crypto market decline. This market volatility resulted in losses for investors and added to the pressure he faced. The downturn was reportedly exacerbated by Donald Trump’s tariff announcement related to China.
Cardano's price has experienced a notable decline, dropping by 20% recently. The current price level is testing the $0.66 support mark. Selling pressure is the primary driver of this downward trend. Negative funding rates are also contributing to the situation.
Deutsche Bank analysts have observed striking parallels between gold and Bitcoin, noting their strong performance this year. They highlighted that Bitcoin’s price action is mirroring that of gold, driven by investors seeking protection from macro uncertainty, a trend known as the ‘debasement trade.’ Bitcoin is increasingly being discussed as a potential reserve asset, similar to gold, and analysts predict central bank accumulation by 2030. Analysts have observed Bitcoin following gold's price movements, with BTC hitting new highs recently. This pattern suggests that Bitcoin’s value tends to increase when gold leads, and previous breakouts have been followed by parabolic rises. Predictions indicate potential for Bitcoin to reach $160,000 or even $165,000 based on this correlation. VanEck's research suggests that Bitcoin's market capitalization could reach a substantial portion of gold's, potentially reaching $644,000 after the next halving. This projection is based on gold's current $27 trillion market capitalization and Bitcoin's current $2.2 trillion valuation. Younger consumers in emerging markets are showing a growing preference for Bitcoin as a store of value compared to gold. SkyBridge CEO Anthony Scaramucci believes that a shift in asset allocation from gold to Bitcoin is likely to occur as younger generations gain more influence. This anticipated change reflects a growing acceptance and preference for Bitcoin amongst younger investors. Currently, Bitcoin is trading at around $112,500.
Following a cryptocurrency market downturn, Binance founder Changpeng Zhao (CZ) acknowledged a post from Meta Financial AI (MEFAI). This interaction sparked significant social media attention and coincided with a notable increase in the MEFAI token price. The interaction highlighted speculation surrounding Binance's role in recent market volatility. MEFAI asserted that Binance was the epicenter of the sell-off but not the instigator, promising a detailed documentation of events. Their on-chain analysis revealed no sales from wallets associated with CZ or potentially linked to him. The project refuted market speculation with evidence-based claims about the selling pressure. MEFAI suggested the involvement of certain market makers contributing to price fluctuations. These market makers reportedly profit from short-term price changes through agreements with various projects. The project emphasized the role of these agreements in creating market volatility.
A significant burn of USDe occurred, with $1.9 billion destroyed within a single 24-hour period. This rapid deleveraging event resulted in approximately 13% of the circulating USDe being removed from supply. Simultaneously, Ethereum’s funding rate became negative, indicating widespread liquidation activity.
The crypto market experienced a rapid and dramatic collapse of XRP's price, dropping nearly 70% within minutes. This "flash crash" stunned traders and sparked debate about whether it was a correction or a deliberate attack. The event saw XRP plummet from approximately $2.65 to as low as $0.78 on Binance, significantly more than Bitcoin or Ethereum’s declines. Crypto analyst Egrag Crypto suggests the crash was a targeted liquidation designed to eliminate leveraged XRP long positions. His analysis points to Binance's trading activity as particularly suspicious, noting a dramatic price drop on that exchange. Data indicates large wallet addresses linked to institutional trading desks moved significant volumes to exchanges before the price drop. Egrag had previously identified downside targets for XRP, all of which were met during the crash. While those following his technical projections without leverage could survive, leveraged traders faced devastating liquidations. The analyst describes the event as a "reset," clearing out weaker positions before a potential price recovery.
Significant payouts are expected from collaborations involving AI and High-Performance Computing (HPC). However, substantial investments are required for data center expansion, exemplified by Bitcoin miners seeking billions in debt financing. Companies like HIVE Digital are acquiring data centers to support HPC operations, utilizing a combination of cash and stock. The timeline for these investments to translate into profits remains uncertain, mirroring concerns surrounding AI companies. Bitcoin miners face pressure to achieve rapid profitability due to the time-sensitive nature of their operations. A single data center supporting AI workloads can demand hundreds of millions of dollars. Bitcoin miners possess a structural advantage when shifting to AI support. They already have land, permits, and grid connections, enabling faster conversions compared to building new facilities. This existing infrastructure accelerates the transition to AI capabilities.
Coinbase has introduced a new credit card in collaboration with American Express. The card provides eligible members with up to 4% cashback, which is paid in Bitcoin. A notable feature of the card is the inclusion of data from the Bitcoin Genesis Block.
Ether experienced a significant price drop during Friday’s liquidation event, reaching approximately $3,510. The price subsequently recovered, rising above $3,800. The rebound was influenced by the 200-day Exponential Moving Average (EMA). The current market outlook for Ethereum is mixed.
