Markets closed on a sour note as crypto slid alongside global stocks. Bitcoin (BTC) dipped below 100,000 and the total market cap shed more than a trillion dollars since October 6, erasing much of 2025s gains. Altcoins felt the heat too. Solana (SOL) fell nearly 20 percent and hovered around 157 after losing key support, while XRP (XRP) slipped toward the 2.16 to 2.25 zone with traders eyeing a possible retest of 2.00 amid whale selling and rising volatility. Inflows told a more nuanced story though. Solana ETFs attracted fresh interest even as Bitcoin (BTC) and Ethereum (ETH) funds saw sizable outflows, hinting at shifting risk appetites beneath the surface. XRP found a little fundamental ballast despite the price pressure. Franklin Templeton updated its spot XRP ETF filing, dropping prior delays and signaling it is ready to launch as soon as this month if the SEC cooperates. Ripple added fuel to the narrative with a 500 million raise that values the company at 40 billion, and a pilot with Mastercard, WebBank, and Gemini to test RLUSD stablecoin settlement for fiat card transactions on a public chain. If regulators sign off, it could compress settlement times and nudge real world utility forward. Bitcoin corporate demand stayed a theme. Strategy Inc., the largest corporate holder of Bitcoin, plans a euro share offering to raise more than 370 million for fresh BTC purchases, leaning into the dip. And according to analyst Willy Woo, Strategy is unlikely to face forced liquidation even in a sharp downturn given its debt profile and stack size. None of this guarantees a floor, but it keeps the buy the dip playbook alive. Policy and market plumbing kept pace. Canada said its 2025 budget will introduce a federal framework for fiat backed stablecoins, with reserve and risk rules that could give institutions more confidence to build. In Asia, Japans crypto market hit about 33 billion dollars in July amid talk of friendlier rules, potential tax relief, and more leverage options, widening the runway for local adoption. On the token design front, ZKsync proposed shifting the ZK token (ZK) from pure governance to real economic utility, a move aimed at boosting network growth. In infrastructure, Chainlink (LINK) had a busy day. It teamed with Dinari to tokenize the SP Digital Markets 50 Index, blending blockchain company equities and crypto into one onchain asset with Chainlink oracles feeding real time data. WisdomTree also tapped Chainlink to publish decentralized, real time NAV for its tokenized CRDT credit fund on Ethereum, a small but notable step toward making traditional assets legible to DeFi rails. The institutions did not sit quietly. Coinbase faced pushback from the Independent Community Bankers of America over its bid for a national trust charter, a reminder that the gulf between banks and crypto still runs deep. Gemini looked beyond trading with plans to launch federally regulated prediction market contracts for elections, sports, and finance, pending green lights from derivatives regulators. And in New York, Zohran Mamdanis mayoral win introduced fresh uncertainty for the citys crypto stance as founders and investors watch for signals on licensing and enforcement. The White House, meanwhile, said the legal review around former President Trumps pardon of Binance founder Changpeng Zhao was serious and thorough. Enforcement headlines were unkind. Hong Kong charged 16 people in the 205 million dollar JPEX fraud case, calling it the largest financial scam in the citys history, and Interpol issued red notices for three more suspects. In Australia, former rugby star Trent Merrin was arrested for allegedly stealing more than 100,000 dollars in crypto through deceptive means. Even with markets under pressure, some operators are finding tailwinds. Robinhoods crypto revenue jumped 339 percent in Q3 to 268 million as international expansion kicked in, helping the company top overall revenue expectations and lifting its stock. Heading into the late hours, watch ETF flows for signs of stabilization, keep an eye on XRP ETF developments, and track whether dip buyers follow through on Bitcoin. Policy steps in Canada and Japan, plus ongoing tokenization and oracle integrations from players like Chainlink, suggest the rails keep building even as prices wobble.
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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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