As the sun sets on a bruising day for crypto, the market is still catching its breath. A sharp selloff erased roughly 110 billion dollars in market cap within 24 hours, with Bitcoin and Ethereum sliding and a wave of liquidations rippling across majors and mid caps alike. Macro jitters did not help. Fresh headlines around US China trade tensions and tariff uncertainty weighed on risk assets, and even as President Trump signaled potential reversals, the damage was done. Whales added fuel to the fire, offloading positions in Solana, Aave, and Aster (SOL, AAVE, ASTER), triggering wider de-risking. Technicals reinforced the mood. Many large caps are pinned below key moving averages, momentum indicators point south, and buyers are struggling to reclaim control. Dogecoin (DOGE) is now firmly in a technical bear market, down more than a third since September and hovering near 0.18 dollars. The narrative tug of war around Bitcoin intensified. Economist Peter Schiff resurfaced the gold versus Bitcoin debate, touting gold’s resilience and pointing to Bitcoin’s recent underperformance. Meanwhile, Jack Dorsey and other supporters are nudging Signal to enable Bitcoin (BTC) transactions, a reminder that peer to peer payments remain one of crypto’s most persistent ambitions even during drawdowns. In Florida, lawmakers proposed allowing the state to invest up to 10 percent of public funds in digital assets, including a strategic Bitcoin reserve, a bold experiment in public finance that could inspire copycats if it passes. Ethereum (ETH) sat at the center of both the selloff and the story pipeline. Price wise, it remains volatile after a recent drop to near 3,400 dollars last week, with a tug between calls for a rebound toward 6,800 and warnings of another leg down toward 3,400. Under the hood, Ethereum added more than 16,000 new developers in 2025, defending its spot as the most active blockchain by builder count. Yet Solana’s developer ecosystem is stealing attention with 83 percent growth, and Ethereum’s core contributors are reportedly paid 50 to 60 percent below market, raising retention concerns. The brain drain chatter grew louder as prominent Ethereum researcher Dankrad Feist departed the Ethereum Foundation to join Tempo, a new Layer 1 backed by Stripe and Paradigm. Still, the ETH institutional arc continued to bend upward. Huobi founder Li Lin is working on a 1 billion dollar Ethereum trust aimed at long term accumulation, and strategist Tom Lee stoked debate with a prediction that Ethereum could one day overtake Bitcoin in market cap, even if that flippening remains far off today. On the multichain front, Uniswap expanded its web app to support Solana via Jupiter’s Ultra API, opening trading access to more than a million Solana tokens and tightening the bridge between the Ethereum and Solana (SOL, UNI) communities. DeFi Development Corp added to the SOL treasury with an 86,307 token buy at about 110 dollars each, though warrants diluted its SOL per share by 25 percent. At the same time, whales sold into strength, illustrating just how split this market is between long term conviction and short term fear. Regulation and market plumbing were active across regions. France is ramping up anti money laundering inspections on exchanges including Binance as MiCA takes hold, a sign that heightened compliance will be the new normal in Europe. Ghana’s central bank is fast tracking crypto regulations for 2025 as local participation nears 9 percent of the population. In a different kind of regional milestone, Russia has surged to the front of Europe’s crypto adoption leaderboard during the past year, powered by DeFi expansion and growing institutional use. Japan’s top banks, Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho, are preparing yen and dollar pegged stablecoins to modernize cross border payments and corporate settlement rails, a notable pivot from the country’s historically conservative stance. Stablecoin heavyweight Tether (USDT) was busy on multiple fronts. It nominated Zachary Lyons and Francesco Garino to the board of Juventus after acquiring a 10.7 percent stake, with a vote slated for November 7, and released an open source wallet development kit aimed at seeding more secure, self custodial wallets across Bitcoin, Ethereum, Solana, and other chains. Ripple Labs is seeking to raise 1 billion dollars through a SPAC to establish a digital asset treasury and bolster its XRP footprint amid the uncertainty, underscoring how treasuries and balance sheets have become strategic weapons in crypto. Elsewhere in market structure, Arthur Hayes introduced Maelstrom, a 250 million dollar private equity fund designed to buy mid sized crypto companies with stable cash flow, a consolidation bet that often follows industry drawdowns. OpenSea is reinventing itself as a multi chain marketplace reaching across 22 blockchains and planning a SEA token by 2026, leaning into tokens and memecoins as NFT volumes slump. In the legal column, Switzerland’s gambling regulator filed a criminal complaint against FIFA’s World Cup themed NFT platform, alleging unlicensed lottery like mechanics, a reminder that the line between digital collectibles and regulated products is thin in many jurisdictions. Consumer and creator brands edged further into finance. MrBeast filed a trademark for a financial platform spanning banking, investing, and crypto services, potentially pulling a generation of fans into new fintech habits if regulators sign off. And in private messaging, the push to bring native Bitcoin to Signal is gaining airtime again, which would mark a notable mainstream step for peer to peer crypto if it ever ships. Even on a red day, the builders kept building. But the tape is fragile. Sellers continue to dominate, momentum remains weak, and headlines can swing sentiment quickly. Into tomorrow, watch for stabilization attempts in Bitcoin (BTC) and Ethereum (ETH), follow through on France’s MiCA enforcement, signals from Florida’s proposed crypto reserve, movement on Japan’s stablecoins, and any fresh institutional flows around Ethereum. For now, it was a day when fear did most of the talking, and resilience will have to do the rest.
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📈💰The Federal Reserve announced today that it will maintain its current interest rates, citing a strong job market and moderate economic growth. This decision comes as no surprise to those in the crypto community, as many have been anticipating this outcome for weeks. However, this news may have some investors feeling slightly disappointed, as they were hoping for a rate cut to boost the market.💸💻Crypto tickers such as BTC, ETH, and XRP have been trending upwards in recent weeks, with many investors hoping for a continued bull run. However, with the Fed's decision to keep interest rates steady, some may be wondering if this will have a negative impact on the market. While it's impossible to predict the exact effect on crypto prices, it's important to remember that the Fed's decision is based on a variety of factors and not solely on the crypto market.📉🌎The Fed's decision also has implications for the stock market, with many investors closely watching the anno...
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